Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY CLASS B	106,933	$15.48M	13.2%	$144.78	$110.48	+29.4%	COM	084670702
MKL	MARKEL CORP	6,407	$6.104M	5.2%	$952.71 *	$526.07	+77.0%	COM	570535104
—	SPDR GOLD SHARES ETF	46,924	$5.934M	5.0%	$126.46	$121.22	—	UIUS	78463v107
—	MEDTRONIC PLC F	66,890	$5.804M	4.9%	$86.77	$53.51	—	COM	g5960l103
—	HOWARD HUGHES CORP	47,931	$5.479M	4.7%	$114.31	$114.31	—	COM	44267d107
—	ALLEGHANY CORP DEL	9,175	$5.042M	4.3%	$549.54	$472.15	—	COM	017175100
—	CISCO SYSTEMS INC	171,320	$4.915M	4.2%	$28.69	$24.33	—	COM	17275r102
MSFT	MICROSOFT CORP	93,972	$4.808M	4.1%	$51.16 *	$26.70	+72.2%	COM	594918104
—	VODAFONE GROUP F ADR 1 ADR REP	155,661	$4.808M	4.1%	$30.89	$34.50	—	COM	92857w308
—	ABBVIE INC	75,701	$4.686M	4.0%	$61.90	$46.39	—	COM	00287y109
BAC	BANK OF AMERICA CORP	332,370	$4.41M	3.7%	$13.27 *	$10.31	+10.0%	COM	060505104
AIG	AMERICAN INTL GROUP	76,708	$4.057M	3.4%	$52.89 *	$32.60	+32.8%	COM	026874784
—	PROSHARES SHORT S&P 500 ETF NE	101,954	$4.042M	3.4%	$39.65	$39.65	—	COM	74347b425
—	VALUESHARES U S QUANTITATIVE V	188,060	$4.019M	3.4%	$21.37	$21.37	—	COM	02072l102
—	LIBERTY MEDIA CORP SERIES C LI	210,432	$3.991M	3.4%	$18.97	$18.97	—	COM	531229854
—	LIBERTY MEDIA CORP SERIES C LI	109,879	$3.391M	2.9%	$30.86	$30.86	—	COM	531229607
—	ALPHABET INC. CLASS C	4,617	$3.195M	2.7%	$692.01	$566.24	—	COM	02079k107
GLW	CORNING INC	146,475	$2.999M	2.5%	$20.47 *	$10.49	+47.9%	COM	219350105
GVAL	CAMBRIA GLOBAL VALUE ETF IV	163,986	$2.993M	2.5%	$18.25	$22.57	—	UIUS	132061409
—	ALPHABET INC. CLASS A	4,251	$2.99M	2.5%	$703.36	$875.83	—	COM	02079k305
—	VANECK VECTORS GOLD MINERS ETF	107,475	$2.978M	2.5%	$27.71	$27.71	—	UIUS	92189f106
AAPL	APPLE INC	25,807	$2.467M	2.1%	$95.59 *	$18.34	+23.3%	COM	037833100
QCOM	QUALCOMM INC	44,360	$2.376M	2.0%	$53.56 *	$50.31	-19.9%	COM	747525103
IGSB	ISHARES 1-3 YEAR CREDIT BOND E	18,720	$1.986M	1.7%	$106.09	$104.99	—	UHUS	464288646
—	SPDR NUVEEN BARCLAYS XXX REVER	40,261	$1.976M	1.7%	$49.08	$24.34	—	UHUS	78464a425
ABT	ABBOTT LABORATORIES	48,742	$1.916M	1.6%	$39.31 *	$28.85	+15.6%	COM	002824100
IGIB	ISHARES INTERM CREDIT BOND ETF	5,660	$629K	0.5%	$111.13	$107.60	—	UHUS	464288638
—	TESLA MOTORS INC	2,690	$571K	0.5%	$212.27	$129.86	—	COM	88160r101
—	BLACKROCK CALIFORNIA MUN	33,770	$512K	0.4%	$15.16	$15.02	—	UHUS	09249c105
—	VALUESHARES INTRNTNL QNTV VAL	16,160	$353K	0.3%	$21.84	$21.84	—	COM	02072l201
TNET	TRINET GROUP INC	16,100	$334K	0.3%	$20.75 *	$13.83	+29.0%	COM	896288107
—	SOLAR SENIOR CAPITAL	19,540	$314K	0.3%	$16.07	$18.36	—	COM	83416m105
—	WISDOMTREE FUNDAMENTAL US SHOR	5,720	$285K	0.2%	$49.83	$49.83	—	COM	97717x149
—	GUGGENHEIM S&P 500 EQL WEIGHT	3,350	$269K	0.2%	$80.30	$78.51	—	COM	78355w106
—	DUFF & PHELPS UTILITY &	27,245	$265K	0.2%	$9.73	$9.17	—	COM	26432k108
—	NORTHWEST NATURAL GA	4,000	$259K	0.2%	$64.75	$50.50	—	COM	667655104
—	ISHARES CORE 1 5 YEAR USD BOND	2,500	$253K	0.2%	$101.20	$100.00	—	UHUS	46432f859
—	COHEN STEERS REIT PREFER	10,278	$211K	0.2%	$20.53	$20.53	—	COM	19247x100
—	LIBERTY MEDIA CORP SERIES C LI	10,969	$160K	0.1%	$14.59	$14.59	—	COM	531229888
—	VEREIT INC REIT	12,787	$129K	0.1%	$10.09	$8.06	—	COM	92339v100
ARAY	ACCURAY INC	22,000	$114K	0.1%	$5.18 *	$5.05	+8.1%	COM	004397105
—	CRIMSON WINE GROUP	13,169	$110K	0.1%	$8.35	$8.50	—	COM	22662x100
—	NEW YORK REIT INC REIT	10,632	$98,000	0.1%	$9.22	$9.88	—	COM	64976l109