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 34 10,000 SH   SOLE   10,000 0 0
AVX CORP NEW COM 002444107 3,058 218,397 SH   SOLE   218,397 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 19,436 86 SH   SOLE   86 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 29,540 196,735 SH   SOLE   196,735 0 0
CHICAGO BRIDGE & IRON CO N V COM 167250109 1,398 33,305 SH   SOLE   33,305 0 0
CHUBB CORP COM 171232101 1,035 10,000 SH   SOLE   10,000 0 0
CNA FINL CORP COM 126117100 1,477 38,155 SH   SOLE   38,155 0 0
COCA COLA CO COM 191216100 2,111 50,000 SH   SOLE   50,000 0 0
COSTCO WHSL CORP NEW COM 22160K105 2,892 20,402 SH   SOLE   20,402 0 0
EXXON MOBIL CORP COM 30231G102 23,596 255,232 SH   SOLE   255,232 0 0
GENERAL ELECTRIC CO COM 369604103 3,799 150,329 SH   SOLE   150,329 0 0
GOLDCORP INC NEW COM 380956409 9,191 496,260 SH   SOLE   496,260 0 0
INTEL CORP COM 458140100 4,542 125,156 SH   SOLE   125,156 0 0
JOHNSON & JOHNSON COM 478160104 2,129 20,363 SH   SOLE   20,363 0 0
KINROSS GOLD CORP COM NO PAR 496902404 1,555 551,378 SH   SOLE   551,378 0 0
LEUCADIA NATL CORP COM 527288104 7,030 313,575 SH   SOLE   313,575 0 0
MEDTRONIC INC COM 585055106 361 5,000 SH   SOLE   5,000 0 0
MERCK & CO INC NEW COM 58933Y105 4,870 85,754 SH   SOLE   85,754 0 0
MERCURY GENL CORP NEW COM 589400100 11,246 198,443 SH   SOLE   198,443 0 0
MICROSOFT CORP COM 594918104 3,970 85,475 SH   SOLE   85,475 0 0
NEWMONT MINING CORP COM 651639106 1,595 84,393 SH   SOLE   84,393 0 0
PEPSICO INC COM 713448108 2,141 22,643 SH   SOLE   22,643 0 0
RITCHIE BROS AUCTIONEERS COM 767744105 2,555 95,000 SH   SOLE   95,000 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 326 4,868 SH   SOLE   4,868 0 0
SANOFI SPONSORED ADR 80105N105 4,020 88,140 SH   SOLE   88,140 0 0
STATOIL ASA SPONSORED ADR 85771P102 2,278 129,355 SH   SOLE   129,355 0 0
TRAVELERS COMPANIES INC COM 89417E109 2,117 20,000 SH   SOLE   20,000 0 0
VALIDUS HOLDINGS LTD COM SHS G9319H102 2,387 57,431 SH   SOLE   57,431 0 0
VICAL INC COM 925602104 427 406,821 SH   SOLE   406,821 0 0
WASHINGTON FED INC COM 938824109 5,386 243,173 SH   SOLE   243,173 0 0