Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY CLASS B	106,488	$18.04M	13.3%	$169.36	$110.48	+50.5%	COM	084670702
—	LIBERTY MEDIA CORP SERIES C LI	206,458	$7.56M	5.6%	$36.62	$18.97	—	COM	531229854
MSFT	MICROSOFT CORP	92,551	$6.379M	4.7%	$68.92 *	$26.70	+133.4%	COM	594918104
MKL	MARKEL CORP	6,300	$6.147M	4.5%	$975.71	$526.07	+84.5%	COM	570535104
BAC	BANK OF AMERICA CORP	247,725	$6.009M	4.4%	$24.26 *	$10.31	+85.3%	COM	060505104
—	HOWARD HUGHES CORP	47,843	$5.877M	4.3%	$122.84	$114.41	—	COM	44267d107
—	SPDR GOLD SHARES ETF	47,822	$5.643M	4.1%	$118.00	$121.14	—	UIUS	78463v107
—	ABBVIE INC	74,073	$5.371M	3.9%	$72.51	$46.39	—	COM	00287y109
—	CISCO SYSTEMS INC	171,436	$5.365M	3.9%	$31.29	$24.33	—	COM	17275r102
—	ALLEGHANY CORP DEL	8,390	$4.99M	3.7%	$594.76	$472.15	—	COM	017175100
—	VALUESHARES U S QUANTITATIVE V	187,695	$4.791M	3.5%	$25.53	$21.37	—	COM	02072l102
AIG	AMERICAN INTL GROUP	75,458	$4.717M	3.5%	$62.51 *	$32.60	+52.7%	COM	026874784
—	VODAFONE GROUP F SPONSORED ADR	161,482	$4.639M	3.4%	$28.73	$34.15	—	COM	92857w308
—	LIBERTY MEDIA CORP SERIES C LI	108,854	$4.539M	3.3%	$41.70	$30.86	—	COM	531229607
GLW	CORNING INC	143,490	$4.311M	3.2%	$30.04 *	$10.49	+117.1%	COM	219350105
—	ALPHABET INC. CLASS C	4,607	$4.186M	3.1%	$908.62	$572.35	—	COM	02079k107
—	ALPHABET INC. CLASS A	4,230	$3.932M	2.9%	$929.55	$875.83	—	COM	02079k305
GVAL	CAMBRIA GLOBAL VALUE ETF	161,691	$3.815M	2.8%	$23.59	$22.58	—	UIUS	132061409
AAPL	APPLE INC	26,058	$3.752M	2.8%	$143.99 *	$18.53	+85.2%	COM	037833100
—	PROSHARES SHORT S&P 500 ETF NE	101,954	$3.415M	2.5%	$33.50	$39.65	—	COM	74347b425
—	WISDOMTREE EMRG MRKT HG DIV ET	75,910	$3.111M	2.3%	$40.98	$40.85	—	UIUS	97717w315
—	DISCOVERY COMM INC CLASS C	115,960	$2.923M	2.1%	$25.21	$26.78	—	COM	25470f302
—	VANECK VECTORS GOLD MINERS ETF	105,900	$2.338M	1.7%	$22.08	$27.71	—	UIUS	92189f106
ABT	ABBOTT LABORATORIES	47,978	$2.332M	1.7%	$48.61 *	$28.85	+34.9%	COM	002824100
—	NEW RESIDENTIAL INVE REIT	138,710	$2.158M	1.6%	$15.56	$16.97	—	COM	64828t201
IGSB	ISHARES 1-3 YEAR CREDIT BOND E	18,720	$1.971M	1.4%	$105.29	$104.99	—	UHUS	464288646
—	SPDR NUVEEN BARCLAYS XXX REVER	36,646	$1.777M	1.3%	$48.49	$24.69	—	UHUS	78464a425
—	TESLA INC	2,525	$913K	0.7%	$361.58	$129.86	—	COM	88160r101
—	VALUESHARES INTRNTNL QNTV VAL	24,880	$747K	0.5%	$30.02	$23.82	—	COM	02072l201
IGIB	ISHARES INTERM CREDIT BOND ETF	5,615	$616K	0.5%	$109.71	$107.60	—	UHUS	464288638
—	BLACKROCK CALIFORNIA MUN	37,370	$563K	0.4%	$15.07	$15.03	—	UHUS	09249c105
—	COHEN STEERS REIT PREFER	19,938	$414K	0.3%	$20.76	$20.32	—	COM	19247x100
—	WISDOMTREE FUNDAMENTAL US SHOR	7,370	$371K	0.3%	$50.34	$49.94	—	COM	97717x149
SCHO	SCHWAB SHORT TERM US TREASURY	7,015	$353K	0.3%	$50.32	$50.30	—	UHUS	808524862
—	SOLAR SENIOR CAPITAL	20,590	$344K	0.3%	$16.71	$18.28	—	COM	83416m105
—	BANK OF AMERIC 7.25 PFD SER L	214	$270K	0.2%	$1261.68	$1191.59	—	CPUS	060505682
—	LIBERTY MEDIA CORP SERIES C LI	10,630	$254K	0.2%	$23.89	$14.59	—	COM	531229888
—	NORTHWEST NATURAL GA	4,000	$239K	0.2%	$59.75	$50.50	—	COM	667655104
—	DUFF & PHELPS UTILITY &	25,065	$230K	0.2%	$9.18	$9.17	—	COM	26432k108
—	MOMNTMSHRS US QUNTITATV MOMNTM	8,170	$202K	0.1%	$24.72	$25.58	—	COM	02072l409
—	CRIMSON WINE GROUP	12,905	$138K	0.1%	$10.69	$8.50	—	COM	22662x100
—	VEREIT INC REIT	12,787	$104K	0.1%	$8.13	$8.06	—	COM	92339v100
—	NEW YORK REIT INC REIT	10,632	$91,000	0.1%	$8.56	$9.88	—	COM	64976l109
ARAY	ACCURAY INC	10,000	$47,000	0.0%	$4.70 *	$5.05	-13.1%	COM	004397105