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
GANNETT CO INC COM 36473H104 541 51,325 SH   SOLE   51,325 0 0
SEMPRA ENERGY COM 816851109 431 3,422 SH   SOLE   3,422 0 0
NAVIOS MARITIME PARTNERS L P UNIT LPI Y62267102 31 33,693 SH   SOLE   33,693 0 0
EBAY INC COM 278642103 236 6,365 SH   SOLE   6,365 0 0
AMERICAS CAR MART INC COM 03062T105 277 3,030 SH   SOLE   3,030 0 0
JOHNSON & JOHNSON COM 478160104 3,164 22,631 SH   SOLE   22,631 0 0
DISCOVERY INC COM SER C 25470F302 1,001 39,398 SH   SOLE   39,398 0 0
COVANTA HLDG CORP COM 22282E102 697 40,250 SH   SOLE   40,250 0 0
VANGUARD WHITEHALL FDS INC INTL DVD ETF 921946810 311 4,820 SH   SOLE   4,820 0 0
COSTCO WHSL CORP NEW COM 22160K105 600 2,479 SH   SOLE   2,479 0 0
CROSS TIMBERS RTY TR TR UNIT 22757R109 1,486 130,386 SH   SOLE   130,385 0 0
PERMIAN BASIN RTY TR UNIT BEN INT 714236106 508 67,543 SH   SOLE   67,543 0 0
SABINE ROYALTY TR UNIT BEN INT 785688102 1,723 37,140 SH   SOLE   37,139 0 0
LIBERTY MEDIA CORP DELAWARE COM C BRAVES GRP 531229888 272 9,794 SH   SOLE   9,794 0 0
PROCTER AND GAMBLE CO COM 742718109 433 4,164 SH   SOLE   4,163 0 0
OCCIDENTAL PETE CORP COM 674599105 686 10,357 SH   SOLE   10,357 0 0
INTEL CORP COM 458140100 521 9,702 SH   SOLE   9,702 0 0
CLOROX CO DEL COM 189054109 241 1,500 SH   SOLE   1,500 0 0
AMERCO COM 023586100 1,798 4,841 SH   SOLE   4,841 0 0
TIDEWATER INC NEW COM 88642R109 1,439 62,060 SH   SOLE   62,060 0 0
EAGLE BULK SHIPPING INC SHS NEW Y2187A143 87 18,654 SH   SOLE   18,654 0 0
SANOFI SPONSORED ADR 80105N105 226 5,100 SH   SOLE   5,100 0 0
MERCK & CO INC COM 58933Y105 323 3,882 SH   SOLE   3,882 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 429 1,519 SH   SOLE   1,519 0 0
EMERSON ELEC CO COM 291011104 1,666 24,331 SH   SOLE   24,330 0 0
AMERICAN NATL INS CO COM 028591105 1,431 11,843 SH   SOLE   11,843 0 0
ANNALY CAP MGMT INC COM 035710409 160 16,000 SH   SOLE   16,000 0 0
ALASKA AIR GROUP INC COM 011659109 230 4,100 SH   SOLE   4,100 0 0
CORNING INC COM 219350105 500 15,120 SH   SOLE   15,120 0 0
CONTURA ENERGY INC COM 21241B100 508 8,768 SH   SOLE   8,768 0 0
BANK NEW YORK MELLON CORP COM 064058100 4,313 85,522 SH   SOLE   85,522 0 0
TEGNA INC COM 87901J105 1,670 118,405 SH   SOLE   118,405 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 316 5,352 SH   SOLE   5,352 0 0
PEPSICO INC COM 713448108 353 2,878 SH   SOLE   2,878 0 0
RAMACO RES INC COM 75134P303 64 11,100 SH   SOLE   11,100 0 0
C&J ENERGY SVCS INC NEW COM 12674R100 467 30,095 SH   SOLE   30,095 0 0
US BANCORP DEL COM NEW 902973304 456 9,463 SH   SOLE   9,463 0 0
BRIGHTHOUSE FINL INC COM 10922N103 402 11,076 SH   SOLE   11,076 0 0
DOWDUPONT INC COM 26078J100 2,017 37,830 SH   SOLE   37,830 0 0
SOUTHERN CO COM 842587107 356 6,890 SH   SOLE   6,890 0 0
BROADRIDGE FINL SOLUTIONS IN COM 11133T103 1,975 19,050 SH   SOLE   19,050 0 0
SCHWAB STRATEGIC TR US BRD MKT ETF 808524102 590 8,671 SH   SOLE   8,671 0 0
CENTURYLINK INC COM 156700106 645 53,801 SH   SOLE   53,801 0 0
CENOVUS ENERGY INC COM 15135U109 316 36,395 SH   SOLE   36,395 0 0
CARS COM INC COM 14575E105 909 39,872 SH   SOLE   39,872 0 0
PATTERSON UTI ENERGY INC COM 703481101 492 35,125 SH   SOLE   35,125 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 52,242 260,053 SH   SOLE   260,053 0 0
WEYERHAEUSER CO COM 962166104 625 23,739 SH   SOLE   23,739 0 0
SOLAR CAP LTD COM 83413U100 245 11,763 SH   SOLE   11,763 0 0
COMCAST CORP NEW CL A 20030N101 385 9,618 SH   SOLE   9,617 0 0
MICROSOFT CORP COM 594918104 6,760 57,319 SH   SOLE   57,319 0 0
CANADIAN NAT RES LTD COM 136385101 1,334 48,519 SH   SOLE   48,519 0 0
JEFFERIES FINL GROUP INC COM 47233W109 10,900 580,110 SH   SOLE   580,109 0 0
V F CORP COM 918204108 661 7,600 SH   SOLE   7,600 0 0
SOLITARIO ZINC CORP COM 8342EP107 6 14,300 SH   SOLE   14,300 0 0
ST JOE CO COM 790148100 602 36,501 SH   SOLE   36,501 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 756 57,340 SH   SOLE   57,340 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 2,410 8 SH   SOLE   8 0 0
ROYCE MICRO-CAP TR INC COM 780915104 1,197 143,713 SH   SOLE   143,712 0 0
ARGO GROUP INTL HLDGS LTD COM G0464B107 332 4,700 SH   SOLE   4,700 0 0
ISTAR INC COM 45031U101 891 105,820 SH   SOLE   105,820 0 0
TEJON RANCH CO COM 879080109 196 11,112 SH   SOLE   11,112 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 331 6,165 SH   SOLE   6,165 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 987 21,151 SH   SOLE   21,151 0 0
METHANEX CORP COM 59151K108 500 8,800 SH   SOLE   8,800 0 0
GENERAL AMERN INVS INC COM 368802104 3,611 108,405 SH   SOLE   108,405 0 0
GOLUB CAP BDC INC COM 38173M102 516 28,864 SH   SOLE   28,864 0 0
INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT 46137V357 239 2,291 SH   SOLE   2,291 0 0
AIR PRODS & CHEMS INC COM 009158106 707 3,703 SH   SOLE   3,703 0 0
MEDLEY CAP CORP COM 58503F106 108 34,828 SH   SOLE   34,828 0 0
PICO HLDGS INC COM NEW 693366205 1,388 140,186 SH   SOLE   140,185 0 0
UNITED SECURITY BANCSHARES C COM 911460103 223 21,049 SH   SOLE   21,049 0 0
OAK VALLEY BANCORP OAKDALE C COM 671807105 399 22,600 SH   SOLE   22,600 0 0
AERCAP HOLDINGS NV SHS N00985106 382 8,217 SH   SOLE   8,217 0 0
SOURCE CAP INC COM 836144105 2,042 56,713 SH   SOLE   56,712 0 0
RPC INC COM 749660106 4,840 424,210 SH   SOLE   424,209 0 0
FREEPORT-MCMORAN INC CL B 35671D857 184 14,256 SH   SOLE   14,256 0 0
SYSCO CORP COM 871829107 694 10,400 SH   SOLE   10,400 0 0
ENTERGY CORP NEW COM 29364G103 585 6,122 SH   SOLE   6,122 0 0
CATHAY GEN BANCORP COM 149150104 356 10,500 SH   SOLE   10,500 0 0
EURONAV NV ANTWERPEN SHS B38564108 325 39,899 SH   SOLE   39,899 0 0
OAKTREE CAP GROUP LLC UNIT CL A 674001201 730 14,702 SH   SOLE   14,701 0 0
ABERDEEN EMRG MRKTS EQT INM COM 00301W105 606 83,310 SH   SOLE   83,310 0 0
ROYCE VALUE TR INC COM 780910105 1,298 94,357 SH   SOLE   94,356 0 0
CONSOLIDATED TOMOKA LD CO COM 210226106 1,744 29,541 SH   SOLE   29,540 0 0
ENZO BIOCHEM INC COM 294100102 49 18,100 SH   SOLE   18,100 0 0
CELGENE CORP COM 151020104 292 3,100 SH   SOLE   3,100 0 0
GEOSPACE TECHNOLOGIES CORP COM 37364X109 480 37,095 SH   SOLE   37,095 0 0
CAPITAL PRODUCT PARTNERS L P COM UNIT LP Y11082107 53 23,118 SH   SOLE   23,118 0 0
METLIFE INC COM 59156R108 275 6,462 SH   SOLE   6,462 0 0
TECHNIPFMC PLC COM G87110105 230 9,800 SH   SOLE   9,800 0 0
NOVARTIS A G SPONSORED ADR 66987V109 702 7,306 SH   SOLE   7,306 0 0
TOTAL S A SPONSORED ADS 89151E109 462 8,301 SH   SOLE   8,301 0 0
MCDERMOTT INTL INC COM 580037703 383 51,426 SH   SOLE   51,426 0 0
CIMAREX ENERGY CO COM 171798101 2,880 41,205 SH   SOLE   41,204 0 0
WHITE MTNS INS GROUP LTD COM G9618E107 26,015 28,110 SH   SOLE   28,110 0 0
MOHAWK INDS INC COM 608190104 2,130 16,885 SH   SOLE   16,885 0 0
ENBRIDGE INC COM 29250N105 381 10,504 SH   SOLE   10,504 0 0
GENCO SHIPPING & TRADING LTD SHS Y2685T131 188 25,184 SH   SOLE   25,184 0 0
ZOETIS INC CL A 98978V103 252 2,500 SH   SOLE   2,500 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 497 14,200 SH   SOLE   14,200 0 0
HALLADOR ENERGY COMPANY COM 40609P105 88 16,660 SH   SOLE   16,660 0 0
OFG BANCORP COM 67103X102 426 21,550 SH   SOLE   21,550 0 0
AMBAC FINL GROUP INC COM NEW 023139884 364 20,100 SH   SOLE   20,100 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100 535 15,475 SH   SOLE   15,475 0 0
GENERAL DYNAMICS CORP COM 369550108 609 3,600 SH   SOLE   3,600 0 0
CISCO SYS INC COM 17275R102 807 14,948 SH   SOLE   14,948 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 284 11,737 SH   SOLE   11,737 0 0
APACHE CORP COM 037411105 412 11,889 SH   SOLE   11,889 0 0
LENNAR CORP CL B 526057302 1,421 36,322 SH   SOLE   36,322 0 0
AT&T INC COM 00206R102 680 21,681 SH   SOLE   21,681 0 0
CONTANGO OIL & GAS COMPANY COM NEW 21075N204 111 35,093 SH   SOLE   35,093 0 0
NOBLE CORP PLC SHS USD G65431101 137 47,775 SH   SOLE   47,775 0 0
SCORPIO BULKERS INC COM Y7546A122 143 37,150 SH   SOLE   37,150 0 0
DIAMOND OFFSHORE DRILLING IN COM 25271C102 803 76,511 SH   SOLE   76,511 0 0
WELLS FARGO CO NEW COM 949746101 776 16,053 SH   SOLE   16,053 0 0
UNION PACIFIC CORP COM 907818108 202 1,210 SH   SOLE   1,209 0 0
DORCHESTER MINERALS LP COM UNIT 25820R105 1,240 67,901 SH   SOLE   67,901 0 0
JPMORGAN CHASE & CO COM 46625H100 202 1,998 SH   SOLE   1,998 0 0
WESTAMERICA BANCORPORATION COM 957090103 3,846 62,233 SH   SOLE   62,233 0 0
INTL PAPER CO COM 460146103 613 13,250 SH   SOLE   13,250 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 384 7,727 SH   SOLE   7,727 0 0
CHEVRON CORP NEW COM 166764100 1,468 11,916 SH   SOLE   11,916 0 0
CONOCOPHILLIPS COM 20825C104 1,693 25,373 SH   SOLE   25,372 0 0
MARKEL CORP COM 570535104 18,325 18,394 SH   SOLE   18,394 0 0
BANK AMER CORP COM 060505104 338 12,233 SH   SOLE   12,233 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 1,007 7,139 SH   SOLE   7,138 0 0
PFIZER INC COM 717081103 417 9,823 SH   SOLE   9,823 0 0
3M CO COM 88579Y101 208 1,000 SH   SOLE   1,000 0 0
AMERICAN EXPRESS CO COM 025816109 887 8,113 SH   SOLE   8,113 0 0
AMGEN INC COM 031162100 1,043 5,488 SH   SOLE   5,487 0 0
APPLIED MATLS INC COM 038222105 485 12,234 SH   SOLE   12,234 0 0
ALLY FINL INC COM 02005N100 304 11,057 SH   SOLE   11,057 0 0
TCW STRATEGIC INCOME FUND IN COM 872340104 217 39,433 SH   SOLE   39,433 0 0
SAN JUAN BASIN RTY TR UNIT BEN INT 798241105 825 153,092 SH   SOLE   153,092 0 0
NOW INC COM 67011P100 2,869 205,523 SH   SOLE   205,523 0 0
VANGUARD GROUP DIV APP ETF 921908844 1,891 17,249 SH   SOLE   17,249 0 0
ENSTAR GROUP LIMITED SHS G3075P101 13,090 75,231 SH   SOLE   75,231 0 0
ANTERO RES CORP COM 03674X106 436 49,330 SH   SOLE   49,330 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C FRMLA 531229854 542 15,451 SH   SOLE   15,451 0 0
ORION ENGINEERED CARBONS S A COM L72967109 286 15,080 SH   SOLE   15,080 0 0
LIBERTY BROADBAND CORP COM SER A 530307107 206 2,247 SH   SOLE   2,247 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 613 6,681 SH   SOLE   6,681 0 0
CALIFORNIA RES CORP COM NEW 13057Q206 2,341 91,042 SH   SOLE   91,042 0 0
CNA FINL CORP COM 126117100 1,395 32,181 SH   SOLE   32,181 0 0
HELMERICH & PAYNE INC COM 423452101 2,141 38,530 SH   SOLE   38,530 0 0
PNC FINL SVCS GROUP INC COM 693475105 681 5,550 SH   SOLE   5,550 0 0
GRAHAM HLDGS CO COM 384637104 427 625 SH   SOLE   625 0 0
BERKLEY W R CORP COM 084423102 17,856 210,760 SH   SOLE   210,759 0 0
LOEWS CORP COM 540424108 16,082 335,532 SH   SOLE   335,532 0 0
SPROTT FOCUS TR INC COM 85208J109 115 16,837 SH   SOLE   16,837 0 0
EXXON MOBIL CORP COM 30231G102 679 8,404 SH   SOLE   8,404 0 0
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308 302 16,615 SH   SOLE   16,615 0 0
CABLE ONE INC COM 12685J105 613 625 SH   SOLE   625 0 0
CHEMOURS CO COM 163851108 219 5,882 SH   SOLE   5,882 0 0
PAYPAL HLDGS INC COM 70450Y103 693 6,673 SH   SOLE   6,673 0 0
THE CHARLES SCHWAB CORPORATI COM 808513105 2,024 47,335 SH   SOLE   47,334 0 0
APPLE INC COM 037833100 1,966 10,351 SH   SOLE   10,351 0 0
ABBOTT LABS COM 002824100 2,336 29,221 SH   SOLE   29,220 0 0
ALLEGHANY CORP DEL COM 017175100 23,307 38,059 SH   SOLE   38,059 0 0
FAIRFAX FINL HLDGS LTD SUB VTG Stock 303901102 12,588 27,146 SH   SOLE   27,146 0 0