The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AEGON N V NY REGISTRY SH 007924103 39,400 5,253,305 SH   SOLE 0 5,253,305 0 0
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 45,172 2,036,595 SH   SOLE 0 2,036,595 0 0
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 36,963 844,489 SH   SOLE 0 844,489 0 0
BANK NEW YORK MELLON CORP COM 064058100 26,810 660,825 SH   SOLE 0 660,825 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 4,520 20 SH   SOLE 0 20 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 50,929 339,190 SH   SOLE 0 339,190 0 0
BP PLC SPONSORED ADR 055622104 29,701 779,140 SH   SOLE 0 779,140 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 14,348 286,221 SH   SOLE 0 286,221 0 0
CENTERSTATE BANKS INC COM 15201P109 17,349 1,456,655 SH   SOLE 0 1,456,655 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 10,318 931,260 SH   SOLE 0 931,260 0 0
CENVEO INC COM 15670S105 8,148 3,879,904 SH   SOLE 0 3,879,904 0 0
CHAMBERS STR PPTYS COM 157842105 45,018 5,585,389 SH   SOLE 0 5,585,389 0 0
CNA FINL CORP COM 126117100 50,582 1,306,692 SH   SOLE 0 1,306,692 0 0
CNO FINL GROUP INC COM 12621E103 35,884 2,083,854 SH   SOLE 0 2,083,854 0 0
COMCAST CORP NEW CL A 20030N101 5,508 94,946 SH   SOLE 0 94,946 0 0
COMCAST CORP NEW CL A SPL 20030N200 22,117 384,212 SH   SOLE 0 384,212 0 0
CONAGRA FOODS INC COM 205887102 16,917 466,282 SH   SOLE 0 466,282 0 0
CROWN HOLDINGS INC COM 228368106 5,641 110,818 SH   SOLE 0 110,818 0 0
DARLING INGREDIENTS INC COM 237266101 10,220 562,760 SH   SOLE 0 562,760 0 0
EXCEL TR INC COM 30068C109 40,107 2,995,318 SH   SOLE 0 2,995,318 0 0
FRANKLIN STREET PPTYS CORP COM 35471R106 28,828 2,349,492 SH   SOLE 0 2,349,492 0 0
GENERAL COMMUNICATION INC CL A 369385109 41,354 3,007,590 SH   SOLE 0 3,007,590 0 0
GRAFTECH INTL LTD COM 384313102 11,012 2,176,302 SH   SOLE 0 2,176,302 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 36,980 887,027 SH   SOLE 0 887,027 0 0
HAWAIIAN TELCOM HOLDCO INC COM 420031106 1,182 42,879 SH   SOLE 0 42,879 0 0
HERITAGE FINL CORP WASH COM 42722X106 7,252 413,216 SH   SOLE 0 413,216 0 0
HUDSON PAC PPTYS INC COM 444097109 210 7,000 SH   SOLE 0 7,000 0 0
ISTAR FINL INC COM 45031U101 343 25,130 SH   SOLE 0 25,130 0 0
JEFFERIES GROUP INC NEW DBCV 3.875%11/0 472319AG7 2,070 2,001,000 SH   SOLE 0 2,001,000 0 0
JOHNSON & JOHNSON COM 478160104 9,628 92,070 SH   SOLE 0 92,070 0 0
JPMORGAN CHASE & CO COM 46625H100 56,027 895,288 SH   SOLE 0 895,288 0 0
LEUCADIA NATL CORP COM 527288104 34,376 1,533,257 SH   SOLE 0 1,533,257 0 0
LIBERTY BROADBAND CORP COM SER A ADDED 530307107 399 7,968 SH   SOLE 0 7,968 0 0
LIBERTY BROADBAND CORP COM SER C ADDED 530307305 824 16,531 SH   SOLE 0 16,531 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 183 3,653 SH   SOLE 0 3,653 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 15,092 312,406 SH   SOLE 0 312,406 0 0
LIBERTY MEDIA CORP DELAWARE CL A 531229102 1,124 31,857 SH   SOLE 0 31,857 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C 531229300 2,325 66,380 SH   SOLE 0 66,380 0 0
LOEWS CORP COM 540424108 30,261 720,148 SH   SOLE 0 720,148 0 0
MERCK & CO INC NEW COM 58933Y105 21,933 386,211 SH   SOLE 0 386,211 0 0
METLIFE INC COM 59156R108 47,832 884,303 SH   SOLE 0 884,303 0 0
MICROSOFT CORP COM 594918104 17,373 374,021 SH   SOLE 0 374,021 0 0
NAVISTAR INTL CORP NEW COM 63934E108 5,747 171,651 SH   SOLE 0 171,651 0 0
NORTHSTAR ASSET MGMT GROUP I COM 66705Y104 24,959 1,105,831 SH   SOLE 0 1,105,831 0 0
NORTHSTAR RLTY FIN CORP COM NEW 66704R704 36,537 2,078,355 SH   SOLE 0 2,078,355 0 0
NUVEEN CA SELECT TAX FREE PR SH BEN INT 67063R103 259 16,792 SH   SOLE 0 16,792 0 0
NUVEEN CAL AMT-FREE MUN INC COM 670651108 5,421 367,807 SH   SOLE 0 367,807 0 0
NUVEEN CR STRATEGIES INCM FD COM SHS 67073D102 16,504 1,881,842 SH   SOLE 0 1,881,842 0 0
NUVEEN GLOBAL HIGH INCOME FD SHS ADDED 67075G103 12,218 708,308 SH   SOLE 0 708,308 0 0
OLD NATL BANCORP IND COM 680033107 35,486 2,384,797 SH   SOLE 0 2,384,797 0 0
OWENS ILL INC COM NEW 690768403 43,680 1,618,376 SH   SOLE 0 1,618,376 0 0
PARK OHIO HLDGS CORP COM 700666100 22,370 354,914 SH   SOLE 0 354,914 0 0
PEABODY ENERGY CORP SDCV 4.750%12/1 704549AG9 11,955 23,034,000 SH   SOLE 0 23,034,000 0 0
PENSKE AUTOMOTIVE GRP INC COM 70959W103 23,581 480,552 SH   SOLE 0 480,552 0 0
PEOPLES BANCORP INC COM 709789101 5,203 200,671 SH   SOLE 0 200,671 0 0
PEOPLES UNITED FINANCIAL INC COM 712704105 30,970 2,040,176 SH   SOLE 0 2,040,176 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206 42,643 2,263,408 SH   SOLE 0 2,263,408 0 0
REDWOOD TR INC COM 758075402 1,188 60,318 SH   SOLE 0 60,318 0 0
RENEWABLE ENERGY GROUP INC COM NEW 75972A301 1,174 120,914 SH   SOLE 0 120,914 0 0
RENEWABLE ENERGY GROUP INC MTNF 2.750% 6/1 75972AAA1 21,737 22,654,000 SH   SOLE 0 22,654,000 0 0
ROCK-TENN CO CL A 772739207 41,034 672,914 SH   SOLE 0 672,914 0 0
SAFEWAY INC COM NEW 786514208 24,454 696,306 SH   SOLE 0 696,306 0 0
SANDRIDGE ENERGY INC COM 80007P307 1,677 921,470 SH   SOLE 0 921,470 0 0
SEABOARD CORP COM 811543107 42,336 10,085 SH   SOLE 0 10,085 0 0
SIERRA BANCORP COM 82620P102 16,246 925,186 SH   SOLE 0 925,186 0 0
SUPERVALU INC COM 868536103 449 46,250 SH   SOLE 0 46,250 0 0
TITAN MACHY INC NOTE 3.750% 5/0 88830RAB7 14,745 18,974,000 SH   SOLE 0 18,974,000 0 0
TRADE STR RESIDENTIAL INC COM NEW 89255N203 15,109 1,964,777 SH   SOLE 0 1,964,777 0 0
TRAVELERS COMPANIES INC COM 89417E109 49,927 471,681 SH   SOLE 0 471,681 0 0
U S GEOTHERMAL INC COM 90338S102 1,703 3,699,851 SH   SOLE 0 3,699,851 0 0
VALERO ENERGY CORP NEW COM 91913Y100 57,020 1,151,926 SH   SOLE 0 1,151,926 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 19,374 414,142 SH   SOLE 0 414,142 0 0
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR 92857W308 20,792 608,487 SH   SOLE 0 608,487 0 0
WELLS FARGO & CO NEW COM 949746101 27,107 494,475 SH   SOLE 0 494,475 0 0
XL GROUP PLC SHS G98290102 39,070 1,136,741 SH   SOLE 0 1,136,741 0 0