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
TETRA TECHNOLOGIES INC DEL COM 88162F105 13 15,000 SH   SOLE   15,000 0 0
SEMPRA ENERGY COM 816851109 292 2,292 SH   SOLE   2,292 0 0
ISHARES GOLD TRUST ISHARES 464285105 921 50,823 SH   SOLE   50,823 0 0
EBAY INC. COM 278642103 543 10,806 SH   SOLE   10,806 0 0
CENTRAL SECS CORP COM 155123102 223 6,840 SH   SOLE   6,840 0 0
JOHNSON & JOHNSON COM 478160104 3,125 19,855 SH   SOLE   19,855 0 0
DISCOVERY INC COM SER C 25470F302 1,232 47,041 SH   SOLE   47,041 0 0
COVANTA HLDG CORP COM 22282E102 528 40,250 SH   SOLE   40,250 0 0
VANGUARD WHITEHALL FDS INTL DVD ETF 921946810 905 11,118 SH   SOLE   11,118 0 0
COSTCO WHSL CORP NEW COM 22160K105 359 952 SH   SOLE   952 0 0
CLEVELAND-CLIFFS INC NEW COM 185899101 191 13,120 SH   SOLE   13,120 0 0
CROSS TIMBERS RTY TR TR UNIT 22757R109 869 105,777 SH   SOLE   105,777 0 0
MESA RTY TR UNIT BEN INT 590660106 42 10,371 SH   SOLE   10,371 0 0
SABINE ROYALTY TR UNIT BEN INT 785688102 863 30,642 SH   SOLE   30,642 0 0
LIBERTY MEDIA CORP DEL COM C BRAVES GRP 531229888 204 8,199 SH   SOLE   8,199 0 0
OCCIDENTAL PETE CORP COM 674599105 832 48,044 SH   SOLE   48,044 0 0
INTEL CORP COM 458140100 460 9,232 SH   SOLE   9,232 0 0
AMERCO COM 023586100 3,123 6,880 SH   SOLE   6,880 0 0
ISHARES SILVER TR ISHARES 46428Q109 226 9,213 SH   SOLE   9,213 0 0
TIDEWATER INC NEW COM 88642R109 379 43,870 SH   SOLE   43,870 0 0
MERCK & CO. INC COM 58933Y105 213 2,606 SH   SOLE   2,606 0 0
EMERSON ELEC CO COM 291011104 1,435 17,855 SH   SOLE   17,855 0 0
AMERICAN NATIONAL GROUP INC COM NEW 02772A109 775 8,059 SH   SOLE   8,059 0 0
ANNALY CAPITAL MANAGEMENT IN COM 035710409 110 13,000 SH   SOLE   13,000 0 0
NVR INC COM 62944T105 1,758 431 SH   SOLE   431 0 0
CORNING INC COM 219350105 509 14,144 SH   SOLE   14,144 0 0
CONTURA ENERGY INC COM 21241B100 195 17,168 SH   SOLE   17,168 0 0
BANK NEW YORK MELLON CORP COM 064058100 3,532 83,216 SH   SOLE   83,216 0 0
TEGNA INC COM 87901J105 1,052 75,380 SH   SOLE   75,380 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 306 5,202 SH   SOLE   5,202 0 0
NEXTIER OILFIELD SOLUTIONS COM 65290C105 52 15,037 SH   SOLE   15,037 0 0
RAMACO RES INC COM 75134P303 72 25,000 SH   SOLE   25,000 0 0
BLACK STONE MINERALS L P COM UNIT 09225M101 102 15,200 SH   SOLE   15,200 0 0
US BANCORP DEL COM NEW 902973304 597 12,808 SH   SOLE   12,808 0 0
BRIGHTHOUSE FINL INC COM 10922N103 234 6,476 SH   SOLE   6,476 0 0
DUPONT DE NEMOURS INC COM 26614N102 897 12,610 SH   SOLE   12,610 0 0
SOUTHERN CO COM 842587107 423 6,890 SH   SOLE   6,890 0 0
BROADRIDGE FINL SOLUTIONS IN COM 11133T103 2,028 13,240 SH   SOLE   13,240 0 0
CARS COM INC COM 14575E105 241 21,306 SH   SOLE   21,306 0 0
NUTRIEN LTD COM 67077M108 327 6,794 SH   SOLE   6,794 0 0
PATTERSON-UTI ENERGY INC COM 703481101 138 26,253 SH   SOLE   26,252 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 50,715 218,723 SH   SOLE   218,723 0 0
WEYERHAEUSER CO MTN BE COM NEW 962166104 608 18,119 SH   SOLE   18,119 0 0
SOLAR CAP LTD COM 83413U100 204 11,663 SH   SOLE   11,663 0 0
COMCAST CORP NEW CL A 20030N101 446 8,511 SH   SOLE   8,511 0 0
MICROSOFT CORP COM 594918104 5,913 26,586 SH   SOLE   26,586 0 0
CANADIAN NAT RES LTD COM 136385101 1,733 72,051 SH   SOLE   72,051 0 0
SCHLUMBERGER LTD COM 806857108 651 29,836 SH   SOLE   29,836 0 0
CVS HEALTH CORP COM 126650100 631 9,240 SH   SOLE   9,240 0 0
JEFFERIES FINL GROUP INC COM 47233W109 14,557 591,733 SH   SOLE   591,732 0 0
V F CORP COM 918204108 641 7,500 SH   SOLE   7,500 0 0
SPECTRUM BRANDS HLDGS INC NE COM 84790A105 860 10,883 SH   SOLE   10,882 0 0
ST JOE CO COM 790148100 1,431 33,701 SH   SOLE   33,701 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 595 34,325 SH   SOLE   34,325 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 2,435 7 SH   SOLE   7 0 0
ROYCE MICRO-CAP TR INC COM 780915104 1,326 130,982 SH   SOLE   130,982 0 0
VANGUARD SCOTTSDALE FDS SHORT TERM TREAS 92206C102 681 11,049 SH   SOLE   11,049 0 0
SOUTHWESTERN ENERGY CO COM 845467109 302 101,400 SH   SOLE   101,400 0 0
MACERICH CO COM 554382101 218 20,413 SH   SOLE   20,413 0 0
ISTAR INC COM 45031U101 1,251 84,256 SH   SOLE   84,256 0 0
TEJON RANCH CO COM 879080109 157 10,862 SH   SOLE   10,862 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 371 6,165 SH   SOLE   6,165 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 1,474 35,721 SH   SOLE   35,721 0 0
DOW INC COM 260557103 700 12,616 SH   SOLE   12,615 0 0
GENERAL AMERN INVS CO INC COM 368802104 3,125 84,038 SH   SOLE   84,038 0 0
DIAMOND S SHIPPING INC COM Y20676105 204 30,617 SH   SOLE   30,617 0 0
SPROTT PHYSICAL SILVER TR TR UNIT 85207K107 1,029 110,210 SH   SOLE   110,210 0 0
GOLUB CAP BDC INC COM 38173M102 387 27,364 SH   SOLE   27,364 0 0
CORTEVA INC COM 22052L104 496 12,812 SH   SOLE   12,811 0 0
BORR DRILLING LTD SHS G1466R207 15 18,754 SH   SOLE   18,754 0 0
GRINDROD SHIPPING HOLDINGS L SHS Y28895103 103 24,445 SH   SOLE   24,445 0 0
AIR PRODS & CHEMS INC COM 009158106 1,018 3,727 SH   SOLE   3,726 0 0
AMERICAN CENTY ETF TR US SML CP VALU 025072877 587 10,319 SH   SOLE   10,319 0 0
VANGUARD SCOTTSDALE FDS VNG RUS1000VAL 92206C714 776 6,475 SH   SOLE   6,475 0 0
AMERICAN CENTY ETF TR INTL SMCP VLU 025072802 707 12,374 SH   SOLE   12,374 0 0
VANGUARD SCOTTSDALE FDS VNG RUS2000VAL 92206C649 238 2,057 SH   SOLE   2,057 0 0
PICO HLDGS INC COM NEW 693366205 1,165 124,592 SH   SOLE   124,592 0 0
UNITED SEC BANCSHARES CALIF COM 911460103 148 21,049 SH   SOLE   21,049 0 0
OAK VY BANCORP OAKDALE CALIF COM 671807105 236 14,215 SH   SOLE   14,215 0 0
SOURCE CAP INC COM 836144105 1,520 38,087 SH   SOLE   38,087 0 0
RPC INC COM 749660106 1,186 376,553 SH   SOLE   376,553 0 0
FREEPORT-MCMORAN INC CL B 35671D857 1,205 46,317 SH   SOLE   46,316 0 0
ENTERGY CORP NEW COM 29364G103 277 2,772 SH   SOLE   2,772 0 0
CATHAY GEN BANCORP COM 149150104 305 9,460 SH   SOLE   9,460 0 0
EURONAV NV SHS B38564108 653 81,571 SH   SOLE   81,571 0 0
CALIFORNIA RES CORP COMMON STOCK 13057Q305 437 18,517 SH   SOLE   18,517 0 0
CREDIT ACCEP CORP MICH COM 225310101 1,780 5,141 SH   SOLE   5,141 0 0
ABERDEEN EMRG MRKTS EQT INM COM 00301W105 589 72,218 SH   SOLE   72,217 0 0
ROYCE VALUE TR INC COM 780910105 1,402 86,843 SH   SOLE   86,842 0 0
TRINITY PL HLDGS INC COM 89656D101 15 12,050 SH   SOLE   12,050 0 0
GEOSPACE TECHNOLOGIES CORP COM 37364X109 262 30,570 SH   SOLE   30,570 0 0
METLIFE INC COM 59156R108 299 6,362 SH   SOLE   6,362 0 0
NOVARTIS AG SPONSORED ADR 66987V109 590 6,245 SH   SOLE   6,245 0 0
TOTAL SE SPONSORED ADS 89151E109 270 6,450 SH   SOLE   6,450 0 0
CIMAREX ENERGY CO COM 171798101 1,092 29,120 SH   SOLE   29,120 0 0
WHITE MTNS INS GROUP LTD COM G9618E107 24,428 24,412 SH   SOLE   24,412 0 0
MOHAWK INDS INC COM 608190104 2,084 14,785 SH   SOLE   14,785 0 0
ENBRIDGE INC COM 29250N105 292 9,133 SH   SOLE   9,133 0 0
GENCO SHIPPING & TRADING LTD SHS Y2685T131 185 25,188 SH   SOLE   25,188 0 0
TEEKAY CORPORATION COM Y8564W103 56 25,880 SH   SOLE   25,880 0 0
W & T OFFSHORE INC COM 92922P106 22 10,000 SH   SOLE   10,000 0 0
CUSTOMERS BANCORP INC COM 23204G100 527 29,000 SH   SOLE   29,000 0 0
ZOETIS INC CL A 98978V103 359 2,170 SH   SOLE   2,170 0 0
BLACKSTONE GROUP INC COM CL A 09260D107 704 10,870 SH   SOLE   10,870 0 0
HALLADOR ENERGY COMPANY COM 40609P105 18 12,500 SH   SOLE   12,500 0 0
OFG BANCORP COM 67103X102 325 17,550 SH   SOLE   17,550 0 0
QUALCOMM INC COM 747525103 300 1,970 SH   SOLE   1,970 0 0
AMBAC FINL GROUP INC COM NEW 023139884 325 21,100 SH   SOLE   21,100 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100 377 13,700 SH   SOLE   13,700 0 0
GENERAL DYNAMICS CORP COM 369550108 302 2,028 SH   SOLE   2,028 0 0
EQT CORP COM 26884L109 150 11,814 SH   SOLE   11,814 0 0
CISCO SYS INC COM 17275R102 396 8,857 SH   SOLE   8,857 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 658 27,816 SH   SOLE   27,816 0 0
LENNAR CORP CL B 526057302 1,883 30,760 SH   SOLE   30,760 0 0
AT&T INC COM 00206R102 501 17,432 SH   SOLE   17,432 0 0
CONTANGO OIL & GAS CO COM NEW 21075N204 408 178,207 SH   SOLE   178,207 0 0
WELLS FARGO CO NEW COM 949746101 438 14,505 SH   SOLE   14,505 0 0
DORCHESTER MINERALS LP COM UNIT 25820R105 635 58,176 SH   SOLE   58,176 0 0
WESTAMERICA BANCORPORATION COM 957090103 732 13,236 SH   SOLE   13,236 0 0
INTERNATIONAL PAPER CO COM 460146103 440 8,850 SH   SOLE   8,850 0 0
CHEVRON CORP NEW COM 166764100 895 10,598 SH   SOLE   10,598 0 0
CONOCOPHILLIPS COM 20825C104 799 19,991 SH   SOLE   19,991 0 0
MARKEL CORP COM 570535104 17,601 17,034 SH   SOLE   17,034 0 0
VANGUARD TAX-MANAGED INTL FD FTSE DEV MKT ETF 921943858 338 7,165 SH   SOLE   7,165 0 0
GANNETT CO INC COM 36472T109 40 11,908 SH   SOLE   11,908 0 0
AMERICAN EXPRESS CO COM 025816109 907 7,505 SH   SOLE   7,505 0 0
AMGEN INC COM 031162100 1,205 5,241 SH   SOLE   5,240 0 0
APPLIED MATLS INC COM 038222105 828 9,600 SH   SOLE   9,600 0 0
ALLY FINL INC COM 02005N100 256 7,190 SH   SOLE   7,190 0 0
TCW STRATEGIC INCOME FD INC COM 872340104 223 39,233 SH   SOLE   39,233 0 0
SAN JUAN BASIN RTY TR UNIT BEN INT 798241105 610 228,536 SH   SOLE   228,535 0 0
WILLIAMS COS INC COM 969457100 243 12,100 SH   SOLE   12,100 0 0
NOW INC COM 67011P100 778 108,418 SH   SOLE   108,418 0 0
VANGUARD SPECIALIZED FUNDS DIV APP ETF 921908844 2,208 15,638 SH   SOLE   15,638 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 373 9,554 SH   SOLE   9,554 0 0
ENSTAR GROUP LIMITED SHS G3075P101 17,106 83,489 SH   SOLE   83,489 0 0
ANTERO RESOURCES CORP COM 03674X106 435 79,906 SH   SOLE   79,906 0 0
LIBERTY MEDIA CORP DEL COM SER C FRMLA 531229854 578 13,566 SH   SOLE   13,566 0 0
ORION ENGINEERED CARBONS S A COM L72967109 366 21,380 SH   SOLE   21,380 0 0
DAILY JOURNAL CORP COM 233912104 359 889 SH   SOLE   889 0 0
LIBERTY BROADBAND CORP COM SER A 530307107 325 2,065 SH   SOLE   2,065 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 983 6,210 SH   SOLE   6,210 0 0
CNA FINL CORP COM 126117100 1,038 26,637 SH   SOLE   26,637 0 0
CORE LABORATORIES N V COM N22717107 675 25,445 SH   SOLE   25,445 0 0
HELMERICH & PAYNE INC COM 423452101 590 25,480 SH   SOLE   25,480 0 0
PNC FINL SVCS GROUP INC COM 693475105 231 1,550 SH   SOLE   1,550 0 0
GRAHAM HLDGS CO COM CL B 384637104 1,784 3,344 SH   SOLE   3,344 0 0
BERKLEY W R CORP COM 084423102 18,318 275,789 SH   SOLE   275,788 0 0
LOEWS CORP COM 540424108 13,762 305,676 SH   SOLE   305,675 0 0
SPROTT FOCUS TR INC COM 85208J109 116 16,837 SH   SOLE   16,837 0 0
SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208R101 274 14,167 SH   SOLE   14,167 0 0
CABLE ONE INC COM 12685J105 780 350 SH   SOLE   350 0 0
PAYPAL HLDGS INC COM 70450Y103 763 3,257 SH   SOLE   3,257 0 0
SCHWAB CHARLES CORP COM 808513105 2,511 47,335 SH   SOLE   47,334 0 0
APPLE INC COM 037833100 2,412 18,175 SH   SOLE   18,175 0 0
ABBOTT LABS COM 002824100 1,242 11,343 SH   SOLE   11,343 0 0
CSW INDUSTRIALS INC COM 126402106 313 2,800 SH   SOLE   2,800 0 0
VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF 922042742 410 4,427 SH   SOLE   4,427 0 0
ALLEGHANY CORP DEL COM 017175100 20,274 33,583 SH   SOLE   33,583 0 0
FAIRFAX FINL HLDGS LTD SUB VTG Stock 303901102 11,120 32,599 SH   SOLE   32,599 0 0