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
AMPIO PHARMACEUTICALS INC COM 03209T109 84 10,000 SH   SOLE   10,000 0 0
AVX CORP NEW COM 002444107 2,909 219,022 SH   SOLE   219,022 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 16,331 86 SH   SOLE   86 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 26,525 209,585 SH   SOLE   209,585 0 0
CHUBB CORP COM 171232101 922 10,000 SH   SOLE   10,000 0 0
CNA FINL CORP COM 126117100 1,542 38,155 SH   SOLE   38,155 0 0
COCA COLA CO COM 191216100 2,118 50,000 SH   SOLE   50,000 0 0
COSTCO WHSL CORP NEW COM 22160K105 2,361 20,502 SH   SOLE   20,502 0 0
EXXON MOBIL CORP COM 30231G102 25,828 256,532 SH   SOLE   256,532 0 0
GENERAL ELECTRIC CO COM 369604103 3,951 150,325 SH   SOLE   150,325 0 0
GOLDCORP INC NEW COM 380956409 5,918 212,050 SH   SOLE   212,050 0 0
INTEL CORP COM 458140100 5,903 191,030 SH   SOLE   191,030 0 0
JOHNSON & JOHNSON COM 478160104 6,063 57,955 SH   SOLE   57,955 0 0
KINROSS GOLD CORP COM NO PAR 496902404 3,496 844,528 SH   SOLE   844,528 0 0
LEUCADIA NATL CORP COM 527288104 8,272 315,475 SH   SOLE   315,475 0 0
MEDTRONIC INC COM 585055106 319 5,000 SH   SOLE   5,000 0 0
MERCK & CO INC NEW COM 58933Y105 5,655 97,754 SH   SOLE   97,754 0 0
MERCURY GENL CORP NEW COM 589400100 12,266 260,762 SH   SOLE   260,762 0 0
MICROSOFT CORP COM 594918104 6,109 146,505 SH   SOLE   146,505 0 0
NEWMONT MINING CORP COM 651639106 7,686 302,138 SH   SOLE   302,138 0 0
PEPSICO INC COM 713448108 4,438 49,680 SH   SOLE   49,680 0 0
RITCHIE BROS AUCTIONEERS COM 767744105 2,355 95,550 SH   SOLE   95,550 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 401 4,868 SH   SOLE   4,868 0 0
SANOFI SPONSORED ADR 80105N105 4,705 88,490 SH   SOLE   88,490 0 0
STATOIL ASA SPONSORED ADR 85771P102 4,000 129,755 SH   SOLE   129,755 0 0
TRAVELERS COMPANIES INC COM 89417E109 1,881 20,000 SH   SOLE   20,000 0 0
VALIDUS HOLDINGS LTD COM SHS G9319H102 2,200 57,531 SH   SOLE   57,531 0 0
VICAL INC COM 925602104 498 408,421 SH   SOLE   408,421 0 0
WASHINGTON FED INC COM 938824109 5,497 245,090 SH   SOLE   245,090 0 0