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
AGNICO EAGLE MINES LTD COM 008474108 18,775 519,212 SH   SOLE   519,212 0 0
ALLEGHENY TECHNOLOGIES INC COM 01741R102 41,697 2,558,099 SH   SOLE   2,558,099 0 0
ALLIANCE DATA SYSTEMS CORP COM 018581108 8,302 37,737 SH   SOLE   37,737 0 0
ALTRA INDL MOTION CORP COM 02208R106 1,088 39,155 SH   SOLE   39,155 0 0
AMERICAN EXPRESS CO COM 025816109 230 3,750 SH   SOLE   3,750 0 0
AMERICAN VANGUARD CORP COM 030371108 293 18,538 SH   SOLE   18,538 0 0
APACHE CORP COM 037411105 15,703 321,711 SH   SOLE   321,711 0 0
ARDMORE SHIPPING CORP COM Y0207T100 579 68,545 SH   SOLE   68,545 0 0
ASANKO GOLD INC COM 04341Y105 861 404,380 SH   SOLE   404,380 0 0
ATWOOD OCEANICS INC COM 050095108 10,808 1,178,601 SH   SOLE   1,178,601 0 0
AVID TECHNOLOGY INC COM 05367P100 19,629 2,903,716 SH   SOLE   2,903,716 0 0
AXALTA COATING SYS LTD COM G0750C108 640 21,910 SH   SOLE   21,910 0 0
B2GOLD CORP COM 11777Q209 425 255,800 SH   SOLE   255,800 0 0
BANRO CORP COM 066800103 166 652,000 SH   SOLE   652,000 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 42,127 296,923 SH   SOLE   296,923 0 0
BARRETT BILL CORP COM 06846N104 408 65,605 SH   SOLE   65,605 0 0
BRADY CORP CL A 104674106 908 33,848 SH   SOLE   33,848 0 0
CHASE CORP COM 16150R104 457 8,695 SH   SOLE   8,695 0 0
CISCO SYS INC COM 17275R102 891 31,281 SH   SOLE   31,281 0 0
CLOUD PEAK ENERGY INC COM 18911Q102 661 339,020 SH   SOLE   339,020 0 0
COCA COLA CO COM 191216100 2,656 57,260 SH   SOLE   57,260 0 0
COLFAX CORP COM 194014106 31,698 1,108,723 SH   SOLE   1,108,723 0 0
COMSTOCK MNG INC COM 205750102 11,536 31,179,455 SH   SOLE   31,179,455 0 0
CUI GLOBAL INC COM NEW 126576206 623 77,055 SH   SOLE   77,055 0 0
CVR PARTNERS LP COM 126633106 830 99,316 SH   SOLE   99,316 0 0
DAVITA HEALTHCARE PARTNERS I COM 23918K108 31,017 422,694 SH   SOLE   422,694 0 0
DAWSON GEOPHYSICAL CO NEW COM 239360100 2,119 463,596 SH   SOLE   463,596 0 0
DENBURY RES INC COM NEW 247916208 173 77,755 SH   SOLE   77,755 0 0
DEVON ENERGY CORP NEW COM 25179M103 7,174 261,440 SH   SOLE   261,440 0 0
DIAMOND OFFSHORE DRILLING IN COM 25271C102 913 42,022 SH   SOLE   42,022 0 0
DISCOVERY COMMUNICATNS NEW COM SER C 25470F302 42,091 1,558,939 SH   SOLE   1,558,939 0 0
DYNAMIC MATLS CORP COM 267888105 5,941 916,799 SH   SOLE   916,799 0 0
ELDORADO GOLD CORP NEW COM 284902103 42 13,405 SH   SOLE   13,405 0 0
EMERSON ELEC CO COM 291011104 13,437 247,087 SH   SOLE   247,087 0 0
ENSCO PLC SHS CLASS A G3157S106 6,475 624,419 SH   SOLE   624,419 0 0
ENSTAR GROUP LIMITED SHS G3075P101 34,021 209,256 SH   SOLE   209,256 0 0
ERA GROUP INC COM 26885G109 13,334 1,421,500 SH   SOLE   1,421,500 0 0
ESTERLINE TECHNOLOGIES CORP COM 297425100 263 4,101 SH   SOLE   4,101 0 0
EXXON MOBIL CORP COM 30231G102 208 2,484 SH   SOLE   2,484 0 0
GENERAL MTRS CO COM 37045V100 35,059 1,115,470 SH   SOLE   1,115,470 0 0
GOLDCORP INC NEW COM 380956409 2,172 133,853 SH   SOLE   133,853 0 0
HALLIBURTON CO COM 406216101 10,039 281,050 SH   SOLE   281,050 0 0
HERITAGE CRYSTAL CLEAN INC COM 42726M106 403 40,500 SH   SOLE   40,500 0 0
INTERGROUP CORP COM 458685104 3,644 145,397 SH   SOLE   145,397 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 14,792 97,669 SH   SOLE   97,669 0 0
ISHARES MSCI HONG KG ETF 464286871 8,177 413,619 SH   SOLE   413,619 0 0
JACOBS ENGR GROUP INC DEL COM 469814107 20,823 478,129 SH   SOLE   478,129 0 0
KEY ENERGY SVCS INC COM 492914106 1,299 3,515,783 SH   SOLE   3,515,783 0 0
KINROSS GOLD CORP COM NO PAR 496902404 693 203,740 SH   SOLE   203,740 0 0
LAYNE CHRISTENSEN CO COM 521050104 17,420 2,422,793 SH   SOLE   2,422,793 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C 531229300 16,044 421,208 SH   SOLE   421,208 0 0
LOEWS CORP COM 540424108 374 9,786 SH   SOLE   9,786 0 0
LYDALL INC DEL COM 550819106 675 20,755 SH   SOLE   20,755 0 0
MARKEL CORP COM 570535104 720 808 SH   SOLE   808 0 0
MARKET VECTORS ETF TR JR GOLD MINERS E 57061R544 25,401 912,077 SH   SOLE   912,077 0 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 13,042 653,081 SH   SOLE   653,081 0 0
MAXWELL TECHNOLOGIES INC COM 577767106 10,825 1,822,356 SH   SOLE   1,822,356 0 0
MCKESSON CORP COM 58155Q103 13,769 87,564 SH   SOLE   87,564 0 0
NEWPARK RES INC COM PAR $.01NEW 651718504 232 53,750 SH   SOLE   53,750 0 0
ORION MARINE GROUP INC COM 68628V308 10,113 1,952,378 SH   SOLE   1,952,378 0 0
PATTERSON UTI ENERGY INC COM 703481101 1,280 72,630 SH   SOLE   72,630 0 0
PICO HLDGS INC COM NEW 693366205 14,755 1,442,350 SH   SOLE   1,442,350 0 0
PIONEER ENERGY SVCS CORP COM 723664108 2,072 941,911 SH   SOLE   941,911 0 0
POWELL INDS INC COM 739128106 8,386 281,323 SH   SOLE   281,323 0 0
PROFIRE ENERGY INC COM 74316X101 187 192,601 SH   SOLE   192,601 0 0
RANDGOLD RES LTD ADR 752344309 518 5,705 SH   SOLE   5,705 0 0
READING INTERNATIONAL INC CL A 755408101 2,111 176,205 SH   SOLE   176,205 0 0
REAL IND INC COM 75601W104 684 78,637 SH   SOLE   78,637 0 0
SEABRIDGE GOLD INC COM 811916105 26,098 2,381,225 SH   SOLE   2,381,225 0 0
SECOND SIGHT MED PRODS INC COM 81362J100 66 13,600 SH   SOLE   13,600 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464a730 31,769 1,046,764 SH   SOLE   1,046,764 0 0
STONE ENERGY CORP COM 861642106 87 109,885 SH   SOLE   109,885 0 0
SUPERIOR INDS INTL INC COM 868168105 1,590 72,010 SH   SOLE   72,010 0 0
SYNALLOY CP DEL COM 871565107 4,109 518,844 SH   SOLE   518,844 0 0
TOTAL S A SPONSORED ADR 89151E109 522 11,483 SH   SOLE   11,483 0 0
US BANCORP DEL COM NEW 902973304 23,128 569,804 SH   SOLE   569,804 0 0
UNIT CORP COM 909218109 15,218 1,727,362 SH   SOLE   1,727,362 0 0
WELLS FARGO & CO NEW COM 949746101 31,084 642,764 SH   SOLE   642,764 0 0
WHITE MTNS INS GROUP LTD COM G9618E107 1,207 1,504 SH   SOLE   1,504 0 0
YAMANA GOLD INC COM 98462Y100 19,741 6,493,613 SH   SOLE   6,493,613 0 0