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 43,428 6,414,737 SH   SOLE 0 6,414,737 0 0
ALLERGAN PLC SHS G0177J108 43,510 258,540 SH   SOLE 0 258,540 0 0
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 29,249 1,532,155 SH   SOLE 0 1,532,155 0 0
AMERICAN EXPRESS CO COM 025816109 28,068 300,896 SH   SOLE 0 300,896 0 0
ANDERSONS INC COM 034164103 2,843 85,885 SH   SOLE 0 85,885 0 0
APPLE INC COM 037833100 225 1,338 SH   SOLE 0 1,338 0 0
ARDMORE SHIPPING CORP COM Y0207T100 4,757 625,968 SH   SOLE 0 625,968 0 0
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 16,836 375,392 SH   SOLE 0 375,392 0 0
AUTONATION INC COM 05329W102 26,920 575,452 SH   SOLE 0 575,452 0 0
AUTOZONE INC COM 053332102 34,643 53,404 SH   SOLE 0 53,404 0 0
BANK AMER CORP COM 060505104 353 11,760 SH   SOLE 0 11,760 0 0
BANK NEW YORK MELLON CORP COM 064058100 17,201 333,806 SH   SOLE 0 333,806 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 9,272 31 SH   SOLE 0 31 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 57,183 286,660 SH   SOLE 0 286,660 0 0
BLACKROCK LTD DURATION INC T COM SHS 09249W101 2,183 144,759 SH   SOLE 0 144,759 0 0
BRIGHTHOUSE FINL INC COM 10922N103 3,386 65,869 SH   SOLE 0 65,869 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 23,137 593,249 SH   SOLE 0 593,249 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 11,854 606,043 SH   SOLE 0 606,043 0 0
CHEMOURS CO COM 163851108 26,581 545,695 SH   SOLE 0 545,695 0 0
CNA FINL CORP COM 126117100 47,503 962,582 SH   SOLE 0 962,582 0 0
CNO FINL GROUP INC COM 12621E103 6,648 306,770 SH   SOLE 0 306,770 0 0
COLFAX CORP COM 194014106 255 8,006 SH   SOLE 0 8,006 0 0
COLONY NORTHSTAR INC CL A COM 19625W104 53,223 9,470,370 SH   SOLE 0 9,470,370 0 0
COMCAST CORP NEW CL A 20030N101 676 19,795 SH   SOLE 0 19,795 0 0
CONSOLIDATED COMM HLDGS INC COM 209034107 25,280 2,306,607 SH   SOLE 0 2,306,607 0 0
CROWN HOLDINGS INC COM 228368106 13,721 270,356 SH   SOLE 0 270,356 0 0
DARLING INGREDIENTS INC COM 237266101 16,211 937,061 SH   SOLE 0 937,061 0 0
DIAMOND OFFSHORE DRILLING IN COM 25271C102 4,811 328,170 SH   SOLE 0 328,170 0 0
DISCOVERY COMMUNICATNS NEW COM SER C 25470F302 46,108 2,362,085 SH   SOLE 0 2,362,085 0 0
DORIAN LPG LTD SHS USD Y2106R110 3,239 432,449 SH   SOLE 0 432,449 0 0
FRANKLIN STREET PPTYS CORP COM 35471R106 13,089 1,556,411 SH   SOLE 0 1,556,411 0 0
GABELLI GLB SML & MD CP VAL COM 36249W104 867 72,484 SH   SOLE 0 72,484 0 0
GRAMERCY PPTY TR COM NEW 385002308 38,134 1,754,917 SH   SOLE 0 1,754,917 0 0
GREAT LAKES DREDGE & DOCK CO COM 390607109 7,366 1,601,319 SH   SOLE 0 1,601,319 0 0
GREEN PLAINS INC COM 393222104 21,840 1,300,009 SH   SOLE 0 1,300,009 0 0
HAWAIIAN TELCOM HOLDCO INC COM 420031106 11,644 436,427 SH   SOLE 0 436,427 0 0
ISHARES TR NASDAQ BIOTECH 464287556 8,948 83,826 SH   SOLE 0 83,826 0 0
ISHARES TR RUS MID CAP ETF 464287499 1,154 5,590 SH   SOLE 0 5,590 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 628 4,135 SH   SOLE 0 4,135 0 0
ISTAR INC COM 45031U101 15,134 1,488,106 SH   SOLE 0 1,488,106 0 0
JBG SMITH PPTYS COM 46590V100 21,099 625,903 SH   SOLE 0 625,903 0 0
JOHNSON & JOHNSON COM 478160104 347 2,707 SH   SOLE 0 2,707 0 0
JPMORGAN CHASE & CO COM 46625H100 50,958 463,383 SH   SOLE 0 463,383 0 0
KCAP FINL INC COM 48668E101 7,781 2,478,088 SH   SOLE 0 2,478,088 0 0
KIMCO RLTY CORP COM 49446R109 54,960 3,816,669 SH   SOLE 0 3,816,669 0 0
KROGER CO COM 501044101 30,895 1,290,510 SH   SOLE 0 1,290,510 0 0
LEUCADIA NATL CORP COM 527288104 40,353 1,775,328 SH   SOLE 0 1,775,328 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 387 4,511 SH   SOLE 0 4,511 0 0
LIBERTY GLOBAL PLC LILAC SHS CL C DELETED G5480U153 11,703 613,049 SH   SOLE 0 613,049 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 39 1,248 SH   SOLE 0 1,248 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 12,633 415,163 SH   SOLE 0 415,163 0 0
LIBERTY MEDIA CORP DELAWARE COM C SIRIUSXM 531229607 465 11,374 SH   SOLE 0 11,374 0 0
LOEWS CORP COM 540424108 24,875 500,197 SH   SOLE 0 500,197 0 0
MERCK & CO INC COM 58933Y105 2,353 43,206 SH   SOLE 0 43,206 0 0
METLIFE INC COM 59156R108 34,735 756,920 SH   SOLE 0 756,920 0 0
MICROSOFT CORP COM 594918104 563 6,168 SH   SOLE 0 6,168 0 0
NAVISTAR INTL CORP NEW NOTE 4.500%10/1 63934EAQ1 8,023 7,818,000 SH   SOLE 0 7,818,000 0 0
NII HLDGS INC COM PAR 62913F508 2,730 1,293,889 SH   SOLE 0 1,293,889 0 0
NN INC COM 629337106 16,995 708,139 SH   SOLE 0 708,139 0 0
NORTHSTAR REALTY EUROPE CORP COM 66706L101 21,208 1,628,891 SH   SOLE 0 1,628,891 0 0
NUVEEN CR STRATEGIES INCM FD COM SHS 67073D102 16,999 2,140,972 SH   SOLE 0 2,140,972 0 0
NUVEEN GLOBAL HIGH INCOME FD SHS 67075G103 13,399 831,225 SH   SOLE 0 831,225 0 0
OAKTREE SPECIALTY LENDING CO COM 67401P108 19,068 4,529,124 SH   SOLE 0 4,529,124 0 0
OAKTREE STRATEGIC INCOME COR COM 67402D104 2,480 314,371 SH   SOLE 0 314,371 0 0
OLD NATL BANCORP IND COM 680033107 21,408 1,266,746 SH   SOLE 0 1,266,746 0 0
OWENS ILL INC COM NEW 690768403 46,065 2,126,713 SH   SOLE 0 2,126,713 0 0
PARK OHIO HLDGS CORP COM 700666100 24,832 639,181 SH   SOLE 0 639,181 0 0
PBF ENERGY INC CL A 69318G106 29,200 861,346 SH   SOLE 0 861,346 0 0
PENSKE AUTOMOTIVE GRP INC COM 70959W103 24,090 543,417 SH   SOLE 0 543,417 0 0
PEOPLES BANCORP INC COM 709789101 14,069 396,861 SH   SOLE 0 396,861 0 0
PIEDMONT OFFICE REALTY TR IN COM CL A 720190206 10,334 587,489 SH   SOLE 0 587,489 0 0
PLATFORM SPECIALTY PRODS COR COM 72766Q105 19,671 2,042,703 SH   SOLE 0 2,042,703 0 0
PROSPECT CAPITAL CORPORATION NOTE 4.750% 4/1 74348TAQ5 28 28,000 SH   SOLE 0 28,000 0 0
PROSPERITY BANCSHARES INC COM 743606105 11,615 159,916 SH   SOLE 0 159,916 0 0
REDWOOD TR INC COM 758075402 19,451 1,257,314 SH   SOLE 0 1,257,314 0 0
REDWOOD TR INC NOTE 4.625% 4/1 758075AB1 3,323 3,323,000 SH   SOLE 0 3,323,000 0 0
RENEWABLE ENERGY GROUP INC COM NEW 75972A301 7,794 608,883 SH   SOLE 0 608,883 0 0
RENEWABLE ENERGY GROUP INC NOTE 2.750% 6/1 75972AAA1 26,538 23,860,000 SH   SOLE 0 23,860,000 0 0
RESOLUTE FST PRODS INC COM 76117W109 1,112 133,957 SH   SOLE 0 133,957 0 0
ROYCE GLOBAL VALUE TR INC COM 78081T104 1,865 169,968 SH   SOLE 0 169,968 0 0
RUSH ENTERPRISES INC CL A 781846209 6,228 146,580 SH   SOLE 0 146,580 0 0
RUSH ENTERPRISES INC CL B 781846308 15,643 387,406 SH   SOLE 0 387,406 0 0
SEABOARD CORP COM 811543107 23,888 5,601 SH   SOLE 0 5,601 0 0
SEACOR HOLDINGS INC COM 811904101 3,973 77,740 SH   SOLE 0 77,740 0 0
SEACOR MARINE HLDGS INC COM 78413P101 19,959 1,049,388 SH   SOLE 0 1,049,388 0 0
SIERRA BANCORP COM 82620P102 11,020 413,648 SH   SOLE 0 413,648 0 0
SUPERVALU INC COM NEW 868536301 13,789 905,411 SH   SOLE 0 905,411 0 0
TEGNA INC COM 87901J105 13,965 1,226,042 SH   SOLE 0 1,226,042 0 0
TELEPHONE & DATA SYS INC COM NEW 879433829 16,872 601,912 SH   SOLE 0 601,912 0 0
TEMPLETON GLOBAL INCOME FD COM 880198106 11,140 1,743,352 SH   SOLE 0 1,743,352 0 0
TENET HEALTHCARE CORP COM NEW 88033G407 18,688 770,620 SH   SOLE 0 770,620 0 0
TENNECO INC COM 880349105 13,009 237,085 SH   SOLE 0 237,085 0 0
TEVA PHARMACEUTICAL INDS LTD SPONSORED ADR 881624209 15,226 890,956 SH   SOLE 0 890,956 0 0
TIER REIT INC COM NEW 88650V208 20,659 1,117,892 SH   SOLE 0 1,117,892 0 0
TRAVELERS COMPANIES INC COM 89417E109 23,716 170,790 SH   SOLE 0 170,790 0 0
U S GEOTHERMAL INC COM NEW 90338S201 3,918 731,038 SH   SOLE 0 731,038 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 19,835 1,245,919 SH   SOLE 0 1,245,919 0 0
VALERO ENERGY CORP NEW COM 91913Y100 37,759 407,014 SH   SOLE 0 407,014 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 36,662 766,675 SH   SOLE 0 766,675 0 0
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308 13,065 469,610 SH   SOLE 0 469,610 0 0
VORNADO RLTY TR SH BEN INT 929042109 10,261 152,469 SH   SOLE 0 152,469 0 0
WASHINGTON PRIME GROUP NEW COM 93964W108 33,467 5,017,550 SH   SOLE 0 5,017,550 0 0
WELLS FARGO CO NEW COM 949746101 10,152 193,712 SH   SOLE 0 193,712 0 0
WESCO AIRCRAFT HLDGS INC COM 950814103 5,008 488,624 SH   SOLE 0 488,624 0 0
WESTERN ASSET HGH YLD DFNDFD COM 95768B107 12,359 846,534 SH   SOLE 0 846,534 0 0
WESTROCK CO COM 96145D105 24,644 384,048 SH   SOLE 0 384,048 0 0
WIDEOPENWEST INC COM 96758W101 15,872 2,219,839 SH   SOLE 0 2,219,839 0 0
XL GROUP LTD COM G98294104 45,748 827,870 SH   SOLE 0 827,870 0 0