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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 YWHVSI03KDTBUdMrbMovyg==

<SEC-DOCUMENT>0001209191-10-004112.txt : 20100121
<SEC-HEADER>0001209191-10-004112.hdr.sgml : 20100121
<ACCEPTANCE-DATETIME>20100121093609
ACCESSION NUMBER:		0001209191-10-004112
CONFORMED SUBMISSION TYPE:	5
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20091231
FILED AS OF DATE:		20100121
DATE AS OF CHANGE:		20100121

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Leslie Kristina M
		CENTRAL INDEX KEY:			0001307207

	FILING VALUES:
		FORM TYPE:		5
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-36383
		FILM NUMBER:		10537768

	MAIL ADDRESS:	
		STREET 1:		DREAMWORKS ANIMATION SKG, INC.
		STREET 2:		1000 FLOWER STREET
		CITY:			GLENDALE
		STATE:			CA
		ZIP:			91201

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PICO HOLDINGS INC /NEW
		CENTRAL INDEX KEY:			0000830122
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE [6500]
		IRS NUMBER:				942723335
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		875 PROSPECT ST
		STREET 2:		STE 301
		CITY:			LA JOLLA
		STATE:			CA
		ZIP:			92037
		BUSINESS PHONE:		6194566022

	MAIL ADDRESS:	
		STREET 1:		875 PROSPECT ST
		STREET 2:		STE 301
		CITY:			LA JOLLA
		STATE:			CA
		ZIP:			92037

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CITATION INSURANCE GROUP
		DATE OF NAME CHANGE:	19940527
</SEC-HEADER>
<DOCUMENT>
<TYPE>5
<SEQUENCE>1
<FILENAME>doc5.xml
<DESCRIPTION>FORM 5 SUBMISSION
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>5</documentType>

    <periodOfReport>2009-12-31</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <form3HoldingsReported>0</form3HoldingsReported>

    <form4TransactionsReported>0</form4TransactionsReported>

    <issuer>
        <issuerCik>0000830122</issuerCik>
        <issuerName>PICO HOLDINGS INC /NEW</issuerName>
        <issuerTradingSymbol>[PICO]</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001307207</rptOwnerCik>
            <rptOwnerName>Leslie Kristina M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>875 PROSPECT STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 301</rptOwnerStreet2>
            <rptOwnerCity>LA JOLLA</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>92037 426</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common</value>
                <footnoteId id="F1"/>
            </securityTitle>
            <transactionCoding>
                <transactionFormType></transactionFormType>
            </transactionCoding>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>543</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">(1)  Represents 543 shares of restricted stock awards which vest on August 11, 2010.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Kristina M. Leslie by James F. Mosier per Power of Attorney dated August 6, 2009.</signatureName>
        <signatureDate>2010-01-21</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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