Cheviot Value Management, LLC Activity Q4 2007-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
BRKB	Sell	Berkshire Hathaway	$91,087,108	+2.1%	260,026	-0.7%	20.16%	+3.7%
GOOGL	Sell	Alphabet Inc. Class A	$28,929,874	+8.4%	221,075	-0.8%	6.40%	+10.2%
AEM	Buy	Agnico Eagle Mines	$21,414,858	-5.8%	471,174	+3.6%	4.74%	-4.3%
MSFT	Sell	Microsoft Corp	$20,742,694	-10.0%	65,693	-3.0%	4.59%	-8.6%
JNJ	Sell	Johnson & Johnson	$20,507,399	-6.5%	131,669	-0.6%	4.54%	-5.0%
XOM	Sell	Exxon Mobil Corp	$16,563,777	+8.6%	140,872	-1.0%	3.67%	+10.3%
UN	Sell	Unilever	$15,599,567	-10.1%	315,781	-5.1%	3.45%	-8.6%
V	Buy	Visa Inc	$15,330,208	-2.9%	66,650	+0.2%	3.39%	-1.3%
CVX	Sell	Chevron Corp	$14,412,703	+6.9%	85,474	-0.3%	3.19%	+8.6%
	Buy	Barrick Gold Corp	$14,178,873	-12.3%	974,493	+2.0%	3.14%	-10.9%
FB	Sell	Meta Platforms, Inc.	$14,012,902	+2.0%	46,677	-2.4%	3.10%	+3.7%
NEM	Sell	Newmont Corp	$12,902,638	-15.3%	349,192	-2.3%	2.86%	-14.0%
CEF	Buy	Sprott Physical Gold & Silver	$12,409,711	-3.9%	716,496	+0.0%	2.75%	-2.3%
COP	Sell	Conocophillips	$12,231,958	+15.1%	102,103	-0.5%	2.71%	+16.9%
MRK	Sell	Merck & Co. Inc.	$12,166,220	-10.8%	118,176	-0.0%	2.69%	-9.4%
LBRDK	Sell	Liberty Broadband	$11,704,576	+13.1%	128,171	-0.7%	2.59%	+15.0%
CMCSA	Sell	Comcast Corp	$10,873,172	+4.2%	245,223	-2.4%	2.41%	+5.9%
PFE	Buy	Pfizer Inc	$10,141,754	-6.4%	305,751	+3.5%	2.24%	-4.8%
AMZN	Sell	Amazon	$9,214,420	-3.0%	72,486	-0.5%	2.04%	-1.4%
MKL	Buy	Markel Corp	$8,191,462	+8.5%	5,563	+1.9%	1.81%	+10.3%
AAPL	Sell	Apple Inc	$7,956,280	-19.0%	46,471	-8.3%	1.76%	-17.7%
FISV	Sell	Fiserv Inc	$7,799,436	-14.6%	69,046	-4.7%	1.73%	-13.3%
MDT	Buy	Medtronic Plc	$5,375,102	-8.1%	68,595	+3.4%	1.19%	-6.5%
ABBV	Sell	Abbvie Inc	$5,128,879	+9.9%	34,408	-0.7%	1.14%	+11.6%
QQQ	Sell	Invesco Qqq Trust	$4,744,279	-3.2%	13,242	-0.1%	1.05%	-1.6%
DEM	Buy	Wisdomtree Emerging Markets Hi	$4,638,625	-0.8%	123,763	+1.3%	1.03%	+0.8%
CVS	Buy	Cvs Health Corp	$4,476,565	+1.2%	64,116	+0.2%	0.99%	+2.9%
PAAS	Sell	Pan American Silver Corp	$3,867,405	-1.4%	267,086	-0.8%	0.86%	+0.1%
DVN	Buy	Devon Energy Corporation	$3,590,761	+0.1%	75,278	+1.5%	0.80%	+1.8%
FNDE	Buy	Schwab Fundamental Emerging Ma	$3,349,543	+0.6%	127,748	+2.7%	0.74%	+2.2%
VZ	Buy	Verizon	$2,626,949	-8.9%	81,054	+4.6%	0.58%	-7.5%
PSX	Sell	Phillips 66	$2,507,421	+25.7%	20,869	-0.3%	0.56%	+27.6%
GDX	Buy	Vaneck Vectors Gold Miners	$1,721,998	-9.8%	63,991	+1.0%	0.38%	-8.4%
ABT	Sell	Abbott Laboratories	$1,590,099	-18.6%	16,418	-8.4%	0.35%	-17.2%
JPM	Sell	J P Morgan Chase & Co	$1,311,126	-3.5%	9,041	-3.2%	0.29%	-2.0%
OXY	Buy	Occidental Petrol Co	$1,124,760	+54.1%	17,336	+39.7%	0.25%	+56.6%
PM	Sell	Philip Morris Intl	$1,039,027	-5.5%	11,223	-0.4%	0.23%	-3.8%
PID	Buy	Invesco International Dividend	$1,010,280	-1.3%	60,460	+6.6%	0.22%	+0.4%
DIS	Sell	Walt Disney Co	$965,349	-16.1%	11,911	-7.6%	0.21%	-14.7%
COST	Sell	Costco Wholesale Co	$754,357	+4.4%	1,335	-0.5%	0.17%	+6.4%
NSRGY	Sell	Nestle	$534,389	-8.1%	4,722	-2.3%	0.12%	-7.1%
NVDA	Buy	Nvidia Corp Com	$510,681	+3.5%	1,174	+0.7%	0.11%	+5.6%
UNH	Buy	Unitedhealth Grp Inc	$496,627	+7.5%	985	+2.5%	0.11%	+8.9%
BAC	Sell	Bank Of America Corp	$472,962	-10.3%	17,274	-6.0%	0.10%	-8.7%
MO	Buy	Altria Group Inc	$412,329	-7.1%	9,806	+0.1%	0.09%	-6.2%
HD	Sell	Home Depot Inc	$360,779	-3.0%	1,194	-0.3%	0.08%	-1.2%
BMY	Sell	Bristol-Myers Squibb	$356,482	-14.0%	6,142	-5.2%	0.08%	-12.2%
CSCO	Buy	Cisco Systems Inc	$319,733	+5.9%	5,947	+1.9%	0.07%	+7.6%
SPY	Buy	Spdr S&p 500	$318,123	-0.6%	744	+3.0%	0.07%	0.0%
CAT	Sell	Caterpillar Inc	$277,914	+2.4%	1,018	-7.7%	0.06%	+5.1%
BA	Sell	Boeing Co	$249,567	-10.3%	1,302	-1.1%	0.06%	-9.8%
RTX	Buy	Raytheon Technologies Co	$222,597	-26.1%	3,093	+0.5%	0.05%	-25.8%
NFLX	Sell	Netflix Inc	$203,526	-15.2%	539	-1.1%	0.04%	-13.5%
ESBS	Buy	Es Bancshares Inc Com	$86,147	+102.2%	15,749	+31.2%	0.02%	+111.1%
VGT	Exit	Vanguard Information Technolog	$0	–	-461	–	-0.04%	–

Q2 2023

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway	$89,257,091	–	261,751	–	19.44%	–
GOOGL	New	Alphabet Inc. Class A	$26,682,447	–	222,911	–	5.81%	–
MSFT	New	Microsoft Corp	$23,055,194	–	67,702	–	5.02%	–
AEM	New	Agnico Eagle Mines	$22,733,403	–	454,850	–	4.95%	–
JNJ	New	Johnson & Johnson	$21,932,392	–	132,506	–	4.78%	–
UN	New	Unilever	$17,342,860	–	332,685	–	3.78%	–
	New	Barrick Gold Corp	$16,171,638	–	955,206	–	3.52%	–
V	New	Visa Inc	$15,789,032	–	66,486	–	3.44%	–
XOM	New	Exxon Mobil Corpene	$15,255,556	–	142,243	–	3.32%	–
NEM	New	Newmont Corp	$15,240,993	–	357,267	–	3.32%	–
FB	New	Meta Platforms, Inc.	$13,731,706	–	47,849	–	2.99%	–
MRK	New	Merck & Co. Inc.	$13,640,958	–	118,216	–	2.97%	–
CVX	New	Chevron Corpene	$13,488,546	–	85,723	–	2.94%	–
CEF	New	Sprott Physical Gold & Silver	$12,909,546	–	716,401	–	2.81%	–
PFE	New	Pfizer Inc	$10,831,562	–	295,299	–	2.36%	–
COP	New	Conocophillipsene	$10,629,319	–	102,590	–	2.32%	–
CMCSA	New	Comcast Corp	$10,434,636	–	251,134	–	2.27%	–
LBRDK	New	Liberty Broadband	$10,344,444	–	129,128	–	2.25%	–
AAPL	New	Apple Inc	$9,828,206	–	50,669	–	2.14%	–
AMZN	New	Amazon	$9,496,596	–	72,849	–	2.07%	–
FISV	New	Fiserv Inc	$9,136,918	–	72,429	–	1.99%	–
MKL	New	Markel Corp	$7,548,013	–	5,457	–	1.64%	–
MDT	New	Medtronic Plc	$5,845,873	–	66,355	–	1.27%	–
QQQ	New	Invesco Qqq Trust	$4,898,663	–	13,260	–	1.07%	–
DEM	New	Wisdomtree Emerging Markets Hi	$4,677,456	–	122,223	–	1.02%	–
ABBV	New	Abbvie Inc	$4,668,779	–	34,653	–	1.02%	–
CVS	New	Cvs Health Corp	$4,423,034	–	63,981	–	0.96%	–
PAAS	New	Pan American Silver Corp	$3,923,872	–	269,127	–	0.86%	–
DVN	New	Devon Energy Corporationene	$3,585,716	–	74,177	–	0.78%	–
FNDE	New	Schwab Fundamental Emerging Ma	$3,329,670	–	124,381	–	0.72%	–
VZ	New	Verizon	$2,882,718	–	77,513	–	0.63%	–
PSX	New	Phillips 66ene	$1,995,496	–	20,922	–	0.44%	–
ABT	New	Abbott Laboratories	$1,953,220	–	17,916	–	0.42%	–
GDX	New	Vaneck Vectors Gold Miners	$1,908,101	–	63,371	–	0.42%	–
JPM	New	J P Morgan Chase & Co	$1,358,555	–	9,341	–	0.30%	–
DIS	New	Walt Disney Co	$1,150,778	–	12,890	–	0.25%	–
PM	New	Philip Morris Intl	$1,099,581	–	11,264	–	0.24%	–
PID	New	Invesco International Dividend	$1,023,342	–	56,695	–	0.22%	–
AMGN	New	Amgen Inc.	$887,414	–	3,997	–	0.19%	–
AMAT	New	Applied Materials	$802,342	–	5,551	–	0.18%	–
	New	Sprott Fds Tr Uranium Miners Eene	$796,616	–	23,730	–	0.17%	–
OXY	New	Occidental Petrol Coene	$729,884	–	12,413	–	0.16%	–
COST	New	Costco Wholesale Co	$722,631	–	1,342	–	0.16%	–
CHTR	New	Charter Communicatn Class A	$685,512	–	1,866	–	0.15%	–
AGI	New	Alamos Gold Inc	$607,050	–	50,927	–	0.13%	–
NSRGY	New	Nestle	$581,652	–	4,833	–	0.13%	–
BAC	New	Bank Of America Corp	$527,093	–	18,372	–	0.12%	–
CHK	New	Chesapeake Energy Corporationene	$524,255	–	6,265	–	0.11%	–
	New	Berkshire Hathaway Class A	$517,810	–	1	–	0.11%	–
NVDA	New	Nvidia Corp Com	$493,244	–	1,166	–	0.11%	–
LLY	New	Lilly Eli & Co	$480,236	–	1,024	–	0.10%	–
UNH	New	Unitedhealth Grp Inc	$461,895	–	961	–	0.10%	–
MO	New	Altria Group Inc	$443,655	–	9,794	–	0.10%	–
BMY	New	Bristol-Myers Squibb	$414,524	–	6,482	–	0.09%	–
MA	New	Mastercard Inc Class A	$406,672	–	1,034	–	0.09%	–
HD	New	Home Depot Inc	$371,836	–	1,197	–	0.08%	–
VEA	New	Vanguard Ftse Developed Market	$348,659	–	7,550	–	0.08%	–
VT	New	Vanguard Total World Stock Ind	$346,316	–	3,571	–	0.08%	–
NKE	New	Nike Inc	$323,494	–	2,931	–	0.07%	–
SPY	New	Spdr S&p 500	$320,070	–	722	–	0.07%	–
RTX	New	Raytheon Technologies Co	$301,406	–	3,077	–	0.07%	–
CSCO	New	Cisco Systems Inc	$302,008	–	5,837	–	0.07%	–
BA	New	Boeing Co	$278,098	–	1,317	–	0.06%	–
CAT	New	Caterpillar Inc	$271,393	–	1,103	–	0.06%	–
GOOG	New	Alphabet Inc Cl C	$267,102	–	2,208	–	0.06%	–
ORCL	New	Oracle Corp	$266,649	–	2,239	–	0.06%	–
KO	New	The Coca-Cola Co	$245,938	–	4,084	–	0.05%	–
LMT	New	Lockheed Martin Corp	$238,016	–	517	–	0.05%	–
NFLX	New	Netflix Inc	$240,067	–	545	–	0.05%	–
NOC	New	Northrop Grumman Co	$227,900	–	500	–	0.05%	–
ROST	New	Ross Stores Inc	$224,260	–	2,000	–	0.05%	–
VGT	New	Vanguard Information Technolog	$203,836	–	461	–	0.04%	–
ESBS	New	Es Bancshares Inc Com	$42,600	–	12,000	–	0.01%	–
NGD	New	New Gold Inc F	$23,312	–	21,585	–	0.01%	–
BLIAQ	New	Bb Liquidating Inc Cl A	$35	–	10,000	–	0.00%	–

Q4 2022

			Value		Shares		↓ Weighting
BLIAQ	Exit	Bb Liquidating Inc Cl A	$0	–	-10,000	–	0.00%	–
NGD	Exit	New Gold Inc F	$0	–	-27,085	–	-0.01%	–
CSCO	Exit	Cisco Systems Inc	$0	–	-5,048	–	-0.06%	–
NKE	Exit	Nike Inc	$0	–	-2,641	–	-0.06%	–
HD	Exit	Home Depot Inc	$0	–	-792	–	-0.06%	–
GOOG	Exit	Alphabet Inc Cl C	$0	–	-2,352	–	-0.06%	–
KO	Exit	The Coca-Cola Co	$0	–	-4,084	–	-0.06%	–
RTX	Exit	Raytheon Technologies Co	$0	–	-2,868	–	-0.06%	–
NOC	Exit	Northrop Grumman Co	$0	–	-500	–	-0.06%	–
VEA	Exit	Vanguard Ftse Developed Market	$0	–	-7,550	–	-0.08%	–
VT	Exit	Vanguard Total World Stock Ind	$0	–	-3,571	–	-0.08%	–
TWTR	Exit	Twitter Inc Com	$0	–	-6,500	–	-0.08%	–
SPY	Exit	Spdr S&p 500	$0	–	-830	–	-0.08%	–
UNH	Exit	Unitedhealth Grp Inc	$0	–	-646	–	-0.09%	–
LLY	Exit	Lilly Eli & Co	$0	–	-1,024	–	-0.09%	–
MO	Exit	Altria Group Inc	$0	–	-9,530	–	-0.10%	–
	Exit	Berkshire Hathaway Class A	$0	–	-1	–	-0.11%	–
AGI	Exit	Alamos Gold Inc	$0	–	-58,464	–	-0.12%	–
NSRGY	Exit	Nestle	$0	–	-4,224	–	-0.12%	–
AMAT	Exit	Applied Materials	$0	–	-5,651	–	-0.13%	–
BMY	Exit	Bristol-Myers Squibb	$0	–	-6,758	–	-0.13%	–
COST	Exit	Costco Wholesale Co	$0	–	-1,114	–	-0.14%	–
USO	Exit	United Sts Oil Fd Lp Units	$0	–	-8,180	–	-0.15%	–
BAC	Exit	Bank Of America Corp	$0	–	-17,972	–	-0.15%	–
PID	Exit	Invesco International Dividend	$0	–	-42,645	–	-0.18%	–
UNG	Exit	United States Natl Gas Unit Pa	$0	–	-28,235	–	-0.18%	–
	Exit	Sprott Fds Tr Uranium Miners E	$0	–	-11,865	–	-0.21%	–
GDX	Exit	Vaneck Vectors Gold Miners	$0	–	-33,873	–	-0.22%	–
AMGN	Exit	Amgen Inc.	$0	–	-3,692	–	-0.23%	–
PM	Exit	Philip Morris Intl	$0	–	-10,552	–	-0.24%	–
JPM	Exit	J P Morgan Chase & Co	$0	–	-8,516	–	-0.24%	–
DIS	Exit	Walt Disney Co	$0	–	-15,844	–	-0.41%	–
FNDE	Exit	Schwab Fundamental Emerging Ma	$0	–	-68,313	–	-0.44%	–
PSX	Exit	Phillips 66	$0	–	-20,466	–	-0.45%	–
QQQ	Exit	Invesco Qqq Trust	$0	–	-7,817	–	-0.57%	–
DVN	Exit	Devon Energy Corporation	$0	–	-37,701	–	-0.62%	–
VZ	Exit	Verizon	$0	–	-60,744	–	-0.63%	–
DEM	Exit	Wisdomtree Emerging Markets Hi	$0	–	-88,655	–	-0.79%	–
ABT	Exit	Abbott Laboratories	$0	–	-30,976	–	-0.82%	–
Y	Exit	Alleghany Corp Del Com	$0	–	-4,152	–	-0.95%	–
MDT	Exit	Medtronic Plc	$0	–	-47,664	–	-1.05%	–
ABBV	Exit	Abbvie Inc	$0	–	-34,298	–	-1.26%	–
PAAS	Exit	Pan American Silver Corp	$0	–	-307,244	–	-1.33%	–
MKL	Exit	Markel Corp	$0	–	-4,765	–	-1.41%	–
CVS	Exit	Cvs Health Corp	$0	–	-56,499	–	-1.47%	–
FB	Exit	Meta Platforms, Inc.	$0	–	-48,987	–	-1.82%	–
AAPL	Exit	Apple Inc	$0	–	-49,070	–	-1.85%	–
FISV	Exit	Fiserv Inc	$0	–	-77,077	–	-1.97%	–
AMZN	Exit	Amazon	$0	–	-64,081	–	-1.98%	–
LBRDK	Exit	Liberty Broadband	$0	–	-123,402	–	-2.49%	–
CMCSA	Exit	Comcast Corp	$0	–	-333,409	–	-2.67%	–
MRK	Exit	Merck & Co. Inc.	$0	–	-119,718	–	-2.82%	–
COP	Exit	Conocophillips	$0	–	-101,342	–	-2.83%	–
CEF	Exit	Sprott Physical Gold & Silver	$0	–	-676,392	–	-2.88%	–
V	Exit	Visa Inc	$0	–	-61,190	–	-2.97%	–
CVX	Exit	Chevron Corp	$0	–	-81,065	–	-3.18%	–
PFE	Exit	Pfizer Inc	$0	–	-268,024	–	-3.20%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-141,588	–	-3.38%	–
UN	Exit	Unilever	$0	–	-306,435	–	-3.67%	–
	Exit	Barrick Gold Corp	$0	–	-898,019	–	-3.80%	–
MSFT	Exit	Microsoft Corp	$0	–	-63,312	–	-4.03%	–
NEM	Exit	Newmont Corp	$0	–	-356,270	–	-4.09%	–
AEM	Exit	Agnico Eagle Mines	$0	–	-416,064	–	-4.80%	–
JNJ	Exit	Johnson & Johnson	$0	–	-126,430	–	-5.64%	–
GOOGL	Exit	Alphabet Inc. Class A	$0	–	-223,715	–	-5.85%	–
BRKB	Exit	Berkshire Hathaway	$0	–	-250,622	–	-18.29%	–

Q3 2022

			Value		Shares		↓ Weighting
BRKB	Buy	Berkshire Hathaway	$66,921,000	-0.4%	250,622	+1.8%	18.29%	+9.0%
GOOGL	Buy	Alphabet Inc. Class A	$21,398,000	-3.2%	223,715	+2105.0%	5.85%	+6.0%
JNJ	Buy	Johnson & Johnson	$20,654,000	-7.9%	126,430	+0.1%	5.64%	+0.9%
AEM	Buy	Agnico Eagle Mines	$17,570,000	+3.2%	416,064	+11.8%	4.80%	+13.0%
NEM	Buy	Newmont Corp	$14,974,000	-29.3%	356,270	+0.3%	4.09%	-22.6%
MSFT	Sell	Microsoft Corp	$14,745,000	-10.7%	63,312	-1.5%	4.03%	-2.2%
	Buy	Barrick Gold Corp	$13,919,000	-4.8%	898,019	+8.7%	3.80%	+4.3%
UN	Buy	Unilever	$13,434,000	-1.9%	306,435	+2.5%	3.67%	+7.4%
XOM	Sell	Exxon Mobil Corp	$12,362,000	+1.3%	141,588	-0.6%	3.38%	+11.0%
PFE	Buy	Pfizer Inc	$11,729,000	-16.0%	268,024	+0.7%	3.20%	-8.0%
CVX	Buy	Chevron Corp	$11,647,000	-0.5%	81,065	+0.3%	3.18%	+9.0%
V	Buy	Visa Inc	$10,870,000	-8.6%	61,190	+1.3%	2.97%	+0.1%
CEF	Buy	Sprott Physical Gold & Silver	$10,531,000	-7.4%	676,392	+0.0%	2.88%	+1.4%
COP	Sell	Conocophillips	$10,371,000	+13.3%	101,342	-0.6%	2.83%	+24.1%
MRK	Sell	Merck & Co. Inc.	$10,310,000	-7.0%	119,718	-1.5%	2.82%	+1.9%
CMCSA	Buy	Comcast Corp	$9,779,000	-21.1%	333,409	+5.6%	2.67%	-13.5%
LBRDK	Buy	Liberty Broadband	$9,107,000	-35.3%	123,402	+1.4%	2.49%	-29.2%
AMZN	Buy	Amazon	$7,241,000	+9.3%	64,081	+2.7%	1.98%	+19.7%
FISV	Sell	Fiserv Inc	$7,212,000	-2.4%	77,077	-7.2%	1.97%	+6.9%
AAPL	Sell	Apple Inc	$6,781,000	+0.9%	49,070	-0.2%	1.85%	+10.6%
FB	Buy	Meta Platforms, Inc.	$6,647,000	-15.7%	48,987	+0.1%	1.82%	-7.7%
CVS	Sell	Cvs Health Corp	$5,388,000	+2.4%	56,499	-0.5%	1.47%	+12.2%
MKL	Buy	Markel Corp	$5,166,000	-15.4%	4,765	+0.9%	1.41%	-7.3%
PAAS	Buy	Pan American Silver Corp	$4,879,000	-18.9%	307,244	+0.4%	1.33%	-11.2%
ABBV	Sell	Abbvie Inc	$4,603,000	-13.3%	34,298	-1.1%	1.26%	-5.1%
MDT	Buy	Medtronic Plc	$3,849,000	-9.2%	47,664	+0.9%	1.05%	-0.6%
Y	Buy	Alleghany Corp Del Com	$3,485,000	+39.8%	4,152	+38.8%	0.95%	+53.1%
ABT	Sell	Abbott Laboratories	$2,997,000	-13.6%	30,976	-3.0%	0.82%	-5.3%
DEM	Sell	Wisdomtree Emerging Markets Hi	$2,884,000	-16.6%	88,655	-5.1%	0.79%	-8.7%
VZ	Buy	Verizon	$2,306,000	-22.6%	60,744	+3.5%	0.63%	-15.2%
DVN	Buy	Devon Energy Corporation	$2,267,000	+157.0%	37,701	+135.5%	0.62%	+181.4%
QQQ	Sell	Invesco Qqq Trust	$2,089,000	-9.5%	7,817	-5.1%	0.57%	-0.9%
PSX	Sell	Phillips 66	$1,652,000	-2.0%	20,466	-0.5%	0.45%	+7.1%
FNDE	Sell	Schwab Fundamental Emerging Ma	$1,601,000	-10.8%	68,313	-1.3%	0.44%	-2.5%
DIS	Sell	Walt Disney Co	$1,495,000	-0.6%	15,844	-0.5%	0.41%	+9.1%
JPM	Sell	J P Morgan Chase & Co	$890,000	-7.6%	8,516	-0.5%	0.24%	+1.2%
PM	Buy	Philip Morris Intl	$876,000	-15.0%	10,552	+1.2%	0.24%	-7.0%
GDX	Sell	Vaneck Vectors Gold Miners	$817,000	-17.0%	33,873	-5.7%	0.22%	-9.0%
PID	Sell	Invesco International Dividend	$650,000	-12.0%	42,645	-1.2%	0.18%	-3.3%
COST	Sell	Costco Wholesale Co	$526,000	-9.6%	1,114	-8.2%	0.14%	-0.7%
NSRGY	Buy	Nestle	$455,000	-7.3%	4,224	+0.1%	0.12%	+1.6%
AGI	Buy	Alamos Gold Inc	$433,000	+22.7%	58,464	+16.3%	0.12%	+34.1%
MO	Buy	Altria Group Inc	$385,000	-3.3%	9,530	+0.1%	0.10%	+6.1%
SPY	Buy	Spdr S&p 500	$296,000	-0.3%	830	+5.3%	0.08%	+9.5%
RTX	Buy	Raytheon Technologies Co	$235,000	-14.2%	2,868	+0.5%	0.06%	-5.9%
GOOG	Buy	Alphabet Inc Cl C	$226,000	-31.9%	2,352	+1447.4%	0.06%	-25.3%
CSCO	Sell	Cisco Systems Inc	$202,000	-7.3%	5,048	-1.4%	0.06%	+1.9%
CAT	Exit	Caterpillar Inc	$0	–	-1,128	–	-0.05%	–
MA	Exit	Mastercard Inc Class A	$0	–	-650	–	-0.05%	–
LMT	Exit	Lockheed Martin Corp	$0	–	-484	–	-0.05%	–
PG	Exit	Procter & Gamble	$0	–	-1,813	–	-0.06%	–
CNNE	Exit	Cannae Holdings, Inc.	$0	–	-96,857	–	-0.47%	–
BDX	Exit	Becton Dickinson	$0	–	-8,955	–	-0.55%	–
PEP	Exit	Pepsico Inc	$0	–	-18,838	–	-0.78%	–

Q2 2022

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway	$67,219,000	–	246,205	–	16.77%	–
JNJ	New	Johnson & Johnson	$22,430,000	–	126,361	–	5.60%	–
GOOGL	New	Alphabet Inc. Class A	$22,111,000	–	10,146	–	5.52%	–
NEM	New	Newmont Corp	$21,190,000	–	355,122	–	5.29%	–
AEM	New	Agnico Eagle Mines	$17,027,000	–	372,093	–	4.25%	–
MSFT	New	Microsoft Corp	$16,504,000	–	64,260	–	4.12%	–
	New	Barrick Gold Corp	$14,615,000	–	826,180	–	3.65%	–
LBRDK	New	Liberty Broadband	$14,077,000	–	121,727	–	3.51%	–
PFE	New	Pfizer Inc	$13,961,000	–	266,271	–	3.48%	–
UN	New	Unilever	$13,701,000	–	298,960	–	3.42%	–
CMCSA	New	Comcast Corp	$12,387,000	–	315,668	–	3.09%	–
XOM	New	Exxon Mobil Corp	$12,199,000	–	142,450	–	3.04%	–
V	New	Visa Inc	$11,893,000	–	60,402	–	2.97%	–
CVX	New	Chevron Corp	$11,704,000	–	80,837	–	2.92%	–
CEF	New	Sprott Physical Gold & Silver	$11,373,000	–	676,148	–	2.84%	–
MRK	New	Merck & Co. Inc.	$11,082,000	–	121,550	–	2.76%	–
COP	New	Conocophillips	$9,155,000	–	101,932	–	2.28%	–
FB	New	Meta Platforms, Inc.	$7,889,000	–	48,921	–	1.97%	–
FISV	New	Fiserv Inc	$7,391,000	–	83,072	–	1.84%	–
AAPL	New	Apple Inc	$6,719,000	–	49,145	–	1.68%	–
AMZN	New	Amazon	$6,624,000	–	62,367	–	1.65%	–
MKL	New	Markel Corp	$6,108,000	–	4,723	–	1.52%	–
PAAS	New	Pan American Silver Corp	$6,018,000	–	305,965	–	1.50%	–
ABBV	New	Abbvie Inc	$5,309,000	–	34,665	–	1.32%	–
CVS	New	Cvs Health Corp	$5,260,000	–	56,762	–	1.31%	–
MDT	New	Medtronic Plc	$4,241,000	–	47,257	–	1.06%	–
ABT	New	Abbott Laboratories	$3,468,000	–	31,920	–	0.86%	–
DEM	New	Wisdomtree Emerging Markets Hi	$3,460,000	–	93,438	–	0.86%	–
PEP	New	Pepsico Inc	$3,140,000	–	18,838	–	0.78%	–
VZ	New	Verizon	$2,979,000	–	58,698	–	0.74%	–
Y	New	Alleghany Corp Del Com	$2,492,000	–	2,991	–	0.62%	–
QQQ	New	Invesco Qqq Trust	$2,309,000	–	8,238	–	0.58%	–
BDX	New	Becton Dickinson	$2,208,000	–	8,955	–	0.55%	–
CNNE	New	Cannae Holdings, Inc.	$1,873,000	–	96,857	–	0.47%	–
FNDE	New	Schwab Fundamental Emerging Ma	$1,794,000	–	69,197	–	0.45%	–
PSX	New	Phillips 66	$1,686,000	–	20,562	–	0.42%	–
DIS	New	Walt Disney Co	$1,504,000	–	15,928	–	0.38%	–
PM	New	Philip Morris Intl	$1,030,000	–	10,431	–	0.26%	–
GDX	New	Vaneck Vectors Gold Miners	$984,000	–	35,928	–	0.24%	–
JPM	New	J P Morgan Chase & Co	$963,000	–	8,556	–	0.24%	–
AMGN	New	Amgen Inc.	$898,000	–	3,692	–	0.22%	–
DVN	New	Devon Energy Corporation	$882,000	–	16,007	–	0.22%	–
PID	New	Invesco International Dividend	$739,000	–	43,164	–	0.18%	–
	New	Sprott Fds Tr Uranium Miners E	$678,000	–	11,865	–	0.17%	–
USO	New	United Sts Oil Fd Lp Units	$657,000	–	8,180	–	0.16%	–
COST	New	Costco Wholesale Co	$582,000	–	1,214	–	0.14%	–
BAC	New	Bank Of America Corp	$559,000	–	17,972	–	0.14%	–
UNG	New	United States Natl Gas Unit Pa	$537,000	–	28,235	–	0.13%	–
BMY	New	Bristol-Myers Squibb	$520,000	–	6,758	–	0.13%	–
AMAT	New	Applied Materials	$514,000	–	5,651	–	0.13%	–
NSRGY	New	Nestle	$491,000	–	4,218	–	0.12%	–
	New	Berkshire Hathaway Class A	$409,000	–	1	–	0.10%	–
MO	New	Altria Group Inc	$398,000	–	9,519	–	0.10%	–
AGI	New	Alamos Gold Inc	$353,000	–	50,264	–	0.09%	–
LLY	New	Lilly Eli & Co	$332,000	–	1,024	–	0.08%	–
GOOG	New	Alphabet Inc Cl C	$332,000	–	152	–	0.08%	–
UNH	New	Unitedhealth Grp Inc	$332,000	–	646	–	0.08%	–
VEA	New	Vanguard Ftse Developed Market	$308,000	–	7,550	–	0.08%	–
VT	New	Vanguard Total World Stock Ind	$305,000	–	3,571	–	0.08%	–
SPY	New	Spdr S&p 500	$297,000	–	788	–	0.07%	–
RTX	New	Raytheon Technologies Co	$274,000	–	2,854	–	0.07%	–
NKE	New	Nike Inc	$270,000	–	2,641	–	0.07%	–
PG	New	Procter & Gamble	$261,000	–	1,813	–	0.06%	–
KO	New	The Coca-Cola Co	$257,000	–	4,084	–	0.06%	–
TWTR	New	Twitter Inc Com	$243,000	–	6,500	–	0.06%	–
NOC	New	Northrop Grumman Co	$239,000	–	500	–	0.06%	–
CSCO	New	Cisco Systems Inc	$218,000	–	5,118	–	0.05%	–
HD	New	Home Depot Inc	$217,000	–	792	–	0.05%	–
LMT	New	Lockheed Martin Corp	$208,000	–	484	–	0.05%	–
MA	New	Mastercard Inc Class A	$205,000	–	650	–	0.05%	–
CAT	New	Caterpillar Inc	$202,000	–	1,128	–	0.05%	–
NGD	New	New Gold Inc F	$29,000	–	27,085	–	0.01%	–
BLIAQ	New	Bb Liquidating Inc Cl A	$0	–	10,000	–	0.00%	–

Q4 2021

			Value		Shares		↓ Weighting
BLIAQ	Exit	Bb Liquidating Inc Cl A	$0	–	-10,000	–	0.00%	–
NGD	Exit	New Gold Inc F	$0	–	-27,085	–	-0.01%	–
PVG	Exit	Pretium Res Inc	$0	–	-10,485	–	-0.03%	–
TREB	Exit	Trebia Acquisition Cor Com Cl	$0	–	-14,000	–	-0.04%	–
WMT	Exit	Walmart Inc	$0	–	-1,471	–	-0.05%	–
ADBE	Exit	Adobe Inc	$0	–	-366	–	-0.05%	–
CAT	Exit	Caterpillar Inc	$0	–	-1,133	–	-0.06%	–
DHR	Exit	Danaher Corp	$0	–	-744	–	-0.06%	–
SPY	Exit	Spdr S&p 500	$0	–	-525	–	-0.06%	–
OGN	Exit	Organon & Co.	$0	–	-6,848	–	-0.06%	–
MA	Exit	Mastercard Inc Class A	$0	–	-669	–	-0.06%	–
LLY	Exit	Lilly Eli & Co	$0	–	-1,024	–	-0.06%	–
KO	Exit	The Coca-Cola Co	$0	–	-4,609	–	-0.06%	–
HD	Exit	Home Depot Inc	$0	–	-750	–	-0.06%	–
UNH	Exit	Unitedhealth Grp Inc	$0	–	-663	–	-0.07%	–
RTX	Exit	Raytheon Technologies Co	$0	–	-3,124	–	-0.07%	–
NVDA	Exit	Nvidia Corp Com	$0	–	-1,329	–	-0.07%	–
AGI	Exit	Alamos Gold Inc	$0	–	-40,520	–	-0.08%	–
ROST	Exit	Ross Stores Inc	$0	–	-3,000	–	-0.08%	–
KL	Exit	Kirkland Lake Gold	$0	–	-8,055	–	-0.09%	–
CSCO	Exit	Cisco Systems Inc	$0	–	-6,811	–	-0.10%	–
VEA	Exit	Vanguard Ftse Developed Market	$0	–	-7,550	–	-0.10%	–
BA	Exit	Boeing Co	$0	–	-1,772	–	-0.10%	–
TWTR	Exit	Twitter Inc Com	$0	–	-6,500	–	-0.10%	–
BMY	Exit	Bristol-Myers Squibb	$0	–	-6,758	–	-0.10%	–
GOOG	Exit	Alphabet Inc Cl C	$0	–	-152	–	-0.10%	–
NKE	Exit	Nike Inc	$0	–	-2,819	–	-0.10%	–
	Exit	Berkshire Hathaway Class A	$0	–	-1	–	-0.10%	–
AMGN	Exit	Amgen Inc.	$0	–	-1,987	–	-0.11%	–
MO	Exit	Altria Group Inc	$0	–	-10,249	–	-0.12%	–
PG	Exit	Procter & Gamble	$0	–	-3,780	–	-0.14%	–
COST	Exit	Costco Wholesale Co	$0	–	-1,314	–	-0.15%	–
NSRGY	Exit	Nestle	$0	–	-4,920	–	-0.15%	–
AMAT	Exit	Applied Materials	$0	–	-5,776	–	-0.19%	–
BAC	Exit	Bank Of America Corp	$0	–	-18,172	–	-0.20%	–
V	Exit	Visa Inc	$0	–	-3,835	–	-0.22%	–
PM	Exit	Philip Morris Intl	$0	–	-9,344	–	-0.23%	–
AMZN	Exit	Amazon.Com Inc	$0	–	-318	–	-0.27%	–
PID	Exit	Invesco International Dividend	$0	–	-61,020	–	-0.28%	–
VZ	Exit	Verizon	$0	–	-22,988	–	-0.32%	–
GDX	Exit	Vaneck Vectors Gold Miners	$0	–	-43,894	–	-0.33%	–
PSX	Exit	Phillips 66	$0	–	-20,479	–	-0.37%	–
JPM	Exit	J P Morgan Chase & Co	$0	–	-8,975	–	-0.38%	–
FNDE	Exit	Schwab Fundamental Emerging Ma	$0	–	-63,230	–	-0.52%	–
VTRS	Exit	Viatris Inc	$0	–	-164,595	–	-0.57%	–
DIS	Exit	Walt Disney Co	$0	–	-15,720	–	-0.68%	–
QQQ	Exit	Invesco Qqq Trust	$0	–	-8,412	–	-0.77%	–
MCD	Exit	Mcdonalds Corp	$0	–	-13,546	–	-0.84%	–
BDX	Exit	Becton Dickinson	$0	–	-13,366	–	-0.84%	–
ABBV	Exit	Abbvie Inc	$0	–	-32,883	–	-0.91%	–
PEP	Exit	Pepsico Inc	$0	–	-24,700	–	-0.95%	–
ABT	Exit	Abbott Laboratories	$0	–	-36,202	–	-1.10%	–
DEM	Exit	Wisdomtree Emerging Markets Hi	$0	–	-101,633	–	-1.14%	–
MDT	Exit	Medtronic Plc	$0	–	-37,706	–	-1.21%	–
CVS	Exit	Cvs Health Corp	$0	–	-59,289	–	-1.29%	–
MKL	Exit	Markel Corp	$0	–	-5,187	–	-1.59%	–
COP	Exit	Conocophillips	$0	–	-97,830	–	-1.70%	–
CNNE	Exit	Cannae Holdings, Inc.	$0	–	-214,491	–	-1.71%	–
SYK	Exit	Stryker Corp	$0	–	-25,737	–	-1.74%	–
BABA	Exit	Alibaba Group Hldg Ltd	$0	–	-46,598	–	-1.77%	–
PAAS	Exit	Pan American Silver Corp	$0	–	-309,919	–	-1.85%	–
FISV	Exit	Fiserv Inc	$0	–	-67,547	–	-1.88%	–
MRK	Exit	Merck & Co. Inc.	$0	–	-104,564	–	-2.01%	–
CVX	Exit	Chevron Corp	$0	–	-77,782	–	-2.02%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-136,839	–	-2.06%	–
AAPL	Exit	Apple Inc	$0	–	-70,343	–	-2.55%	–
PFE	Exit	Pfizer Inc	$0	–	-253,568	–	-2.80%	–
CEF	Exit	Sprott Physical Gold & Silver	$0	–	-672,501	–	-2.95%	–
FB	Exit	Meta Platforms, Inc.	$0	–	-34,129	–	-2.97%	–
UN	Exit	Unilever	$0	–	-217,079	–	-3.02%	–
CMCSA	Exit	Comcast Corp	$0	–	-210,988	–	-3.03%	–
	Exit	Barrick Gold Corp	$0	–	-718,102	–	-3.32%	–
AEM	Exit	Agnico Eagle Mines	$0	–	-285,711	–	-3.80%	–
LBRDK	Exit	Liberty Broadband	$0	–	-86,549	–	-3.83%	–
NEM	Exit	Newmont Corp	$0	–	-321,471	–	-4.48%	–
JNJ	Exit	Johnson & Johnson	$0	–	-122,444	–	-5.07%	–
MSFT	Exit	Microsoft Corp	$0	–	-70,614	–	-5.10%	–
GOOGL	Exit	Alphabet Inc. Class A	$0	–	-8,431	–	-5.78%	–
BRKB	Exit	Berkshire Hathaway	$0	–	-239,585	–	-16.77%	–

Q3 2021

			Value		Shares		↓ Weighting
BRKB	Buy	Berkshire Hathaway	$65,392,000	-1.6%	239,585	+0.2%	16.77%	+2.8%
GOOGL	Buy	Alphabet Inc. Class A	$22,540,000	+10.1%	8,431	+0.6%	5.78%	+15.0%
MSFT	Sell	Microsoft Corp	$19,908,000	-1.8%	70,614	-5.6%	5.10%	+2.6%
JNJ	Sell	Johnson & Johnson	$19,775,000	-2.1%	122,444	-0.1%	5.07%	+2.2%
NEM	Buy	Newmont Corp	$17,456,000	-6.1%	321,471	+9.6%	4.48%	-1.9%
LBRDK	Buy	Liberty Broadband	$14,947,000	+2.4%	86,549	+2.9%	3.83%	+6.9%
AEM	Buy	Agnico Eagle Mines	$14,814,000	-4.1%	285,711	+11.8%	3.80%	+0.2%
	Buy	Barrick Gold Corp	$12,962,000	-3.7%	718,102	+10.3%	3.32%	+0.6%
CMCSA	Buy	Comcast Corp	$11,801,000	-1.4%	210,988	+0.6%	3.03%	+3.0%
UN	Buy	Unilever	$11,770,000	-2.7%	217,079	+4.9%	3.02%	+1.6%
FB	Buy	Meta Platforms, Inc.	$11,583,000	-2.1%	34,129	+0.3%	2.97%	+2.2%
CEF	Buy	Sprott Physical Gold & Silver	$11,520,000	-7.4%	672,501	+1.0%	2.95%	-3.3%
PFE	Buy	Pfizer Inc	$10,906,000	+11.8%	253,568	+1.8%	2.80%	+16.8%
AAPL	Sell	Apple Inc	$9,954,000	-0.2%	70,343	-3.4%	2.55%	+4.2%
XOM	Buy	Exxon Mobil Corp	$8,049,000	-0.2%	136,839	+7.0%	2.06%	+4.2%
CVX	Buy	Chevron Corp	$7,891,000	+6.0%	77,782	+9.4%	2.02%	+10.7%
MRK	Buy	Merck & Co. Inc.	$7,854,000	+8.3%	104,564	+12.1%	2.01%	+13.1%
FISV	Buy	Fiserv Inc	$7,329,000	+4.7%	67,547	+3.1%	1.88%	+9.4%
PAAS	Buy	Pan American Silver Corp	$7,212,000	-13.9%	309,919	+5.7%	1.85%	-10.1%
BABA	Buy	Alibaba Group Hldg Ltd	$6,899,000	-33.7%	46,598	+1.6%	1.77%	-30.7%
SYK	Sell	Stryker Corp	$6,787,000	+0.2%	25,737	-1.3%	1.74%	+4.6%
CNNE	Buy	Cannae Holdings, Inc.	$6,673,000	-2.8%	214,491	+6.0%	1.71%	+1.5%
COP	Buy	Conocophillips	$6,630,000	+49.6%	97,830	+34.4%	1.70%	+56.2%
MKL	Buy	Markel Corp	$6,199,000	+2.5%	5,187	+1.8%	1.59%	+7.1%
CVS	Buy	Cvs Health Corp	$5,031,000	+3.4%	59,289	+1.7%	1.29%	+7.9%
MDT	Sell	Medtronic Plc	$4,726,000	-1.7%	37,706	-2.7%	1.21%	+2.6%
DEM	Buy	Wisdomtree Emerging Markets Hi	$4,434,000	-2.7%	101,633	+1.9%	1.14%	+1.6%
ABT	Sell	Abbott Laboratories	$4,277,000	-0.7%	36,202	-2.6%	1.10%	+3.8%
PEP	Sell	Pepsico Inc	$3,715,000	+1.1%	24,700	-0.4%	0.95%	+5.7%
ABBV	Sell	Abbvie Inc	$3,547,000	-4.3%	32,883	-0.1%	0.91%	0.0%
BDX	Sell	Becton Dickinson	$3,286,000	-1.6%	13,366	-2.7%	0.84%	+2.8%
MCD	Sell	Mcdonalds Corp	$3,266,000	+2.4%	13,546	-1.9%	0.84%	+7.0%
QQQ	Sell	Invesco Qqq Trust	$3,011,000	-1.9%	8,412	-2.8%	0.77%	+2.5%
DIS	Buy	Walt Disney Co	$2,659,000	-3.5%	15,720	+0.3%	0.68%	+0.7%
VTRS	Sell	Viatris Inc	$2,230,000	-50.2%	164,595	-47.5%	0.57%	-48.0%
FNDE	Buy	Schwab Fundamental Emerging Ma	$2,038,000	+7.7%	63,230	+7.7%	0.52%	+12.5%
JPM	Sell	J P Morgan Chase & Co	$1,469,000	+5.1%	8,975	-0.1%	0.38%	+9.9%
PSX	Sell	Phillips 66	$1,434,000	-18.7%	20,479	-0.4%	0.37%	-15.0%
GDX	Sell	Vaneck Vectors Gold Miners	$1,294,000	-15.3%	43,894	-2.3%	0.33%	-11.5%
VZ	Buy	Verizon	$1,242,000	+12.3%	22,988	+16.4%	0.32%	+17.3%
PID	Sell	Invesco International Dividend	$1,072,000	-4.4%	61,020	-3.8%	0.28%	0.0%
PM	Sell	Philip Morris Intl	$886,000	-5.5%	9,344	-1.3%	0.23%	-1.3%
V	Buy	Visa Inc	$854,000	-4.5%	3,835	+0.3%	0.22%	0.0%
BAC	Sell	Bank Of America Corp	$771,000	+1.3%	18,172	-1.5%	0.20%	+5.9%
AMAT	Sell	Applied Materials	$744,000	-16.8%	5,776	-8.0%	0.19%	-12.8%
COST	Buy	Costco Wholesale Co	$591,000	+13.7%	1,314	+0.1%	0.15%	+18.8%
NSRGY	Buy	Nestle	$591,000	-1.3%	4,920	+2.4%	0.15%	+3.4%
PG	Sell	Procter & Gamble	$528,000	-2.9%	3,780	-6.2%	0.14%	+0.7%
MO	Buy	Altria Group Inc	$467,000	-1.1%	10,249	+3.5%	0.12%	+3.4%
AMGN	Sell	Amgen Inc.	$423,000	-12.8%	1,987	-0.2%	0.11%	-9.2%
NKE	Sell	Nike Inc	$409,000	-9.3%	2,819	-3.5%	0.10%	-5.4%
BA	Sell	Boeing Co	$390,000	-9.1%	1,772	-1.1%	0.10%	-4.8%
CSCO	Sell	Cisco Systems Inc	$371,000	-3.1%	6,811	-5.8%	0.10%	+1.1%
KL	Buy	Kirkland Lake Gold	$335,000	+38.4%	8,055	+28.4%	0.09%	+45.8%
ROST	Sell	Ross Stores Inc	$327,000	-34.1%	3,000	-25.0%	0.08%	-31.1%
AGI	Buy	Alamos Gold Inc	$292,000	+0.3%	40,520	+6.4%	0.08%	+5.6%
NVDA	Buy	Nvidia Corp Com	$275,000	+10.0%	1,329	+324.6%	0.07%	+16.4%
RTX	Sell	Raytheon Technologies Co	$269,000	-5.3%	3,124	-6.0%	0.07%	-1.4%
HD	Sell	Home Depot Inc	$246,000	-10.2%	750	-12.8%	0.06%	-6.0%
KO	Buy	The Coca-Cola Co	$242,000	-0.8%	4,609	+2.2%	0.06%	+3.3%
MA	Buy	Mastercard Inc Class A	$233,000	-3.7%	669	+1.1%	0.06%	+1.7%
SPY	Sell	Spdr S&p 500	$225,000	-3.4%	525	-3.3%	0.06%	+1.8%
DHR	New	Danaher Corp	$227,000	–	744	–	0.06%	–
OGN	Sell	Organon & Co.	$225,000	-17.0%	6,848	-23.7%	0.06%	-13.4%
ADBE	Buy	Adobe Inc	$211,000	+5.0%	366	+6.7%	0.05%	+10.2%
WMT	Buy	Walmart Inc	$205,000	-0.5%	1,471	+1.0%	0.05%	+3.9%
TREB	Sell	Trebia Acquisition Cor Com Cl	$139,000	-21.9%	14,000	-22.2%	0.04%	-18.2%
PVG	New	Pretium Res Inc	$101,000	–	10,485	–	0.03%	–
NGD	Sell	New Gold Inc F	$29,000	-61.8%	27,085	-35.8%	0.01%	-63.2%
BAYRY	Exit	Bayer	$0	–	-60,289	–	-0.23%	–
PSTH	Exit	Pershing Square Tontine Holdin	$0	–	-432,127	–	-2.42%	–

Q2 2021

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway	$66,424,000	–	239,004	–	16.31%	–
GOOGL	New	Alphabet Inc. Class A	$20,472,000	–	8,384	–	5.03%	–
MSFT	New	Microsoft Corp	$20,266,000	–	74,810	–	4.98%	–
JNJ	New	Johnson & Johnson	$20,202,000	–	122,627	–	4.96%	–
NEM	New	Newmont Corp	$18,597,000	–	293,420	–	4.57%	–
AEM	New	Agnico Eagle Mines	$15,451,000	–	255,596	–	3.79%	–
LBRDK	New	Liberty Broadband	$14,599,000	–	84,069	–	3.58%	–
	New	Barrick Gold Corp	$13,461,000	–	650,908	–	3.30%	–
CEF	New	Sprott Physical Gold & Silver	$12,444,000	–	666,161	–	3.06%	–
UN	New	Unilever	$12,101,000	–	206,849	–	2.97%	–
CMCSA	New	Comcast Corp	$11,964,000	–	209,816	–	2.94%	–
FB	New	Facebook Inc	$11,835,000	–	34,036	–	2.91%	–
BABA	New	Alibaba Group Hldg Ltd	$10,402,000	–	45,867	–	2.55%	–
AAPL	New	Apple Inc	$9,975,000	–	72,832	–	2.45%	–
PSTH	New	Pershing Square Tontine Holdin	$9,835,000	–	432,127	–	2.42%	–
PFE	New	Pfizer Inc	$9,754,000	–	249,089	–	2.40%	–
PAAS	New	Pan American Silver Corp	$8,378,000	–	293,254	–	2.06%	–
XOM	New	Exxon Mobil Corp	$8,065,000	–	127,848	–	1.98%	–
CVX	New	Chevron Corp	$7,446,000	–	71,088	–	1.83%	–
MRK	New	Merck & Co. Inc.	$7,253,000	–	93,268	–	1.78%	–
FISV	New	Fiserv Inc	$7,000,000	–	65,491	–	1.72%	–
CNNE	New	Cannae Holdings, Inc.	$6,863,000	–	202,387	–	1.68%	–
SYK	New	Stryker Corp	$6,776,000	–	26,089	–	1.66%	–
MKL	New	Markel Corp	$6,049,000	–	5,097	–	1.48%	–
CVS	New	CVS Health Corp	$4,866,000	–	58,313	–	1.20%	–
MDT	New	Medtronic Plc	$4,810,000	–	38,752	–	1.18%	–
DEM	New	Wisdomtree Emerging Markets Hi	$4,558,000	–	99,773	–	1.12%	–
VTRS	New	Viatris Inc	$4,476,000	–	313,242	–	1.10%	–
COP	New	Conocophillips	$4,433,000	–	72,790	–	1.09%	–
ABT	New	Abbott Laboratories	$4,307,000	–	37,156	–	1.06%	–
ABBV	New	Abbvie Inc	$3,707,000	–	32,910	–	0.91%	–
PEP	New	Pepsico Inc	$3,674,000	–	24,797	–	0.90%	–
BDX	New	Becton Dickinson	$3,340,000	–	13,735	–	0.82%	–
MCD	New	Mcdonalds Corp	$3,189,000	–	13,804	–	0.78%	–
QQQ	New	Invesco Qqq Trust	$3,068,000	–	8,657	–	0.75%	–
DIS	New	Walt Disney Co	$2,756,000	–	15,679	–	0.68%	–
FNDE	New	Schwab Fundamental Emerging Ma	$1,893,000	–	58,695	–	0.46%	–
PSX	New	Phillips 66	$1,764,000	–	20,556	–	0.43%	–
GDX	New	Vaneck Vectors Gold Miners	$1,527,000	–	44,943	–	0.38%	–
JPM	New	J P Morgan Chase & Co	$1,398,000	–	8,985	–	0.34%	–
PID	New	Invesco International Dividend	$1,121,000	–	63,439	–	0.28%	–
VZ	New	Verizon	$1,106,000	–	19,746	–	0.27%	–
AMZN	New	Amazon.Com Inc	$1,094,000	–	318	–	0.27%	–
PM	New	Philip Morris Intl	$938,000	–	9,467	–	0.23%	–
BAYRY	New	Bayer	$919,000	–	60,289	–	0.23%	–
V	New	Visa Inc	$894,000	–	3,823	–	0.22%	–
AMAT	New	Applied Materials	$894,000	–	6,276	–	0.22%	–
BAC	New	Bank Of America Corp	$761,000	–	18,447	–	0.19%	–
NSRGY	New	Nestle	$599,000	–	4,805	–	0.15%	–
PG	New	Procter & Gamble	$544,000	–	4,032	–	0.13%	–
COST	New	Costco Wholesale Co	$520,000	–	1,313	–	0.13%	–
ROST	New	Ross Stores Inc	$496,000	–	4,000	–	0.12%	–
AMGN	New	Amgen Inc.	$485,000	–	1,991	–	0.12%	–
MO	New	Altria Group Inc	$472,000	–	9,905	–	0.12%	–
NKE	New	Nike Inc	$451,000	–	2,922	–	0.11%	–
BMY	New	Bristol-Myers Squibb	$452,000	–	6,758	–	0.11%	–
TWTR	New	Twitter Inc Com	$447,000	–	6,500	–	0.11%	–
BA	New	Boeing Co	$429,000	–	1,792	–	0.10%	–
	New	Berkshire Hathaway Class A	$419,000	–	1	–	0.10%	–
VEA	New	Vanguard Ftse Developed Market	$389,000	–	7,550	–	0.10%	–
CSCO	New	Cisco Systems Inc	$383,000	–	7,228	–	0.09%	–
GOOG	New	Alphabet Inc Cl C	$381,000	–	152	–	0.09%	–
AGI	New	Alamos Gold Inc	$291,000	–	38,095	–	0.07%	–
RTX	New	Raytheon Technologies Co	$284,000	–	3,324	–	0.07%	–
OGN	New	Organon & Co.	$271,000	–	8,970	–	0.07%	–
HD	New	Home Depot Inc	$274,000	–	860	–	0.07%	–
UNH	New	Unitedhealth Grp Inc	$265,000	–	663	–	0.06%	–
NVDA	New	Nvidia Corp Com	$250,000	–	313	–	0.06%	–
CAT	New	Caterpillar Inc	$247,000	–	1,133	–	0.06%	–
KO	New	The Coca-Cola Co	$244,000	–	4,509	–	0.06%	–
MA	New	Mastercard Inc Class A	$242,000	–	662	–	0.06%	–
KL	New	Kirkland Lake Gold	$242,000	–	6,275	–	0.06%	–
LLY	New	Lilly Eli & Co	$235,000	–	1,024	–	0.06%	–
SPY	New	Spdr S&p 500	$233,000	–	543	–	0.06%	–
WMT	New	Walmart Inc	$206,000	–	1,457	–	0.05%	–
ADBE	New	Adobe Inc	$201,000	–	343	–	0.05%	–
TREB	New	Trebia Acquisition Cor Com Cl	$178,000	–	18,000	–	0.04%	–
NGD	New	New Gold Inc F	$76,000	–	42,185	–	0.02%	–
BLIAQ	New	Bb Liquidating Inc Cl A	$0	–	10,000	–	0.00%	–

Q4 2020

			Value		Shares		↓ Weighting
ADP	Exit	Auto Data Processing	$0	–	-1,474	–	-0.07%	–
BMY	Exit	Bristol-Myers Squibb	$0	–	-3,458	–	-0.07%	–
RTX	Exit	Raytheon Technologies Co	$0	–	-3,682	–	-0.07%	–
INTC	Exit	Intel Corp	$0	–	-4,508	–	-0.08%	–
CSCO	Exit	Cisco Systems Inc	$0	–	-6,240	–	-0.08%	–
KL	Exit	Kirkland Lake Gold	$0	–	-5,920	–	-0.10%	–
	Exit	Berkshire Hathaway Class A	$0	–	-1	–	-0.11%	–
MO	Exit	Altria Group Inc	$0	–	-8,577	–	-0.12%	–
VEA	Exit	Vanguard Ftse Developed Market	$0	–	-8,550	–	-0.12%	–
COST	Exit	Costco Wholesale Co	$0	–	-1,015	–	-0.12%	–
ROST	Exit	Ross Stores Inc	$0	–	-4,000	–	-0.13%	–
AMAT	Exit	Applied Materials	$0	–	-6,441	–	-0.13%	–
AMGN	Exit	Amgen Inc.	$0	–	-1,631	–	-0.14%	–
PG	Exit	Procter & Gamble	$0	–	-3,105	–	-0.15%	–
V	Exit	Visa Inc	$0	–	-2,494	–	-0.17%	–
NSRGY	Exit	Nestle	$0	–	-5,261	–	-0.22%	–
JPM	Exit	J P Morgan Chase & Co	$0	–	-6,948	–	-0.23%	–
PM	Exit	Philip Morris Intl	$0	–	-9,061	–	-0.24%	–
VZ	Exit	Verizon	$0	–	-13,102	–	-0.27%	–
AMZN	Exit	Amazon.Com Inc	$0	–	-287	–	-0.31%	–
BAYRY	Exit	Bayer	$0	–	-61,774	–	-0.32%	–
FNDE	Exit	Schwab Fundamental Emerging Ma	$0	–	-40,877	–	-0.34%	–
PID	Exit	Invesco International Dividend	$0	–	-81,911	–	-0.36%	–
CVS	Exit	Cvs Health Corp	$0	–	-27,715	–	-0.56%	–
DIS	Exit	Walt Disney Co	$0	–	-15,424	–	-0.66%	–
GDX	Exit	Vaneck Vectors Gold Miners	$0	–	-52,895	–	-0.72%	–
ABBV	Exit	Abbvie Inc	$0	–	-30,030	–	-0.91%	–
MRK	Exit	Merck & Co. Inc.	$0	–	-33,982	–	-0.98%	–
MCD	Exit	Mcdonalds Corp	$0	–	-13,594	–	-1.04%	–
MKL	Exit	Markel Corp	$0	–	-3,092	–	-1.04%	–
DEM	Exit	Wisdomtree Emerging Markets Hi	$0	–	-87,577	–	-1.07%	–
QQQ	Exit	Invesco Qqq Trust	$0	–	-11,348	–	-1.09%	–
BDX	Exit	Becton Dickinson	$0	–	-14,322	–	-1.16%	–
PEP	Exit	Pepsico Inc	$0	–	-25,507	–	-1.23%	–
ABT	Exit	Abbott Laboratories	$0	–	-40,457	–	-1.53%	–
MDT	Exit	Medtronic Plc	$0	–	-45,285	–	-1.63%	–
CNNE	Exit	Cannae Holdings, Inc.	$0	–	-132,402	–	-1.71%	–
UN	Exit	Unilever	$0	–	-87,643	–	-1.84%	–
SYK	Exit	Stryker Corp	$0	–	-26,935	–	-1.95%	–
FISV	Exit	Fiserv Inc	$0	–	-60,391	–	-2.16%	–
PFE	Exit	Pfizer Inc	$0	–	-213,053	–	-2.71%	–
FB	Exit	Facebook Inc	$0	–	-30,102	–	-2.74%	–
PAAS	Exit	Pan American Silver Corp	$0	–	-266,107	–	-2.97%	–
CMCSA	Exit	Comcast Corp	$0	–	-205,753	–	-3.30%	–
AAPL	Exit	Apple Inc	$0	–	-85,624	–	-3.44%	–
LBRDK	Exit	Liberty Broadband	$0	–	-80,475	–	-3.99%	–
GOOGL	Exit	Alphabet Inc. Class A	$0	–	-8,641	–	-4.39%	–
CEF	Exit	Sprott Physical Gold & Silver	$0	–	-708,486	–	-4.51%	–
	Exit	Barrick Gold Corp	$0	–	-564,364	–	-5.50%	–
NEM	Exit	Newmont Corp	$0	–	-261,663	–	-5.76%	–
JNJ	Exit	Johnson & Johnson	$0	–	-113,347	–	-5.85%	–
MSFT	Exit	Microsoft Corp	$0	–	-81,095	–	-5.92%	–
AEM	Exit	Agnico Eagle Mines	$0	–	-228,161	–	-6.30%	–
BRKB	Exit	Berkshire Hathaway	$0	–	-235,315	–	-17.38%	–

Q3 2020

			Value		Shares		↓ Weighting
BRKB	Buy	Berkshire Hathaway	$50,108,000	+24.9%	235,315	+4.7%	17.38%	+11.1%
AEM	Buy	Agnico Eagle Mines	$18,164,000	+24.3%	228,161	+0.0%	6.30%	+10.5%
MSFT	Sell	Microsoft Corp	$17,057,000	+0.7%	81,095	-2.6%	5.92%	-10.4%
JNJ	Buy	Johnson & Johnson	$16,875,000	+8.9%	113,347	+2.8%	5.85%	-3.2%
NEM	Sell	Newmont Corp	$16,602,000	+1.2%	261,663	-1.6%	5.76%	-10.0%
	Buy	Barrick Gold Corp	$15,864,000	+5.6%	564,364	+1.2%	5.50%	-6.1%
CEF	Sell	Sprott Physical Gold & Silver	$12,994,000	+5.9%	708,486	-2.4%	4.51%	-5.9%
GOOGL	Buy	Alphabet Inc. Class A	$12,664,000	+4.8%	8,641	+1.4%	4.39%	-6.8%
LBRDK	Buy	Liberty Broadband	$11,497,000	+21.2%	80,475	+5.2%	3.99%	+7.8%
AAPL	Buy	Apple Inc	$9,916,000	+29.8%	85,624	+308.8%	3.44%	+15.4%
CMCSA	Buy	Comcast Corp	$9,518,000	+21.9%	205,753	+2.8%	3.30%	+8.4%
PAAS	Buy	Pan American Silver Corp	$8,555,000	+6.7%	266,107	+0.9%	2.97%	-5.1%
FB	Buy	Facebook Inc	$7,884,000	+16.8%	30,102	+1.3%	2.74%	+3.9%
PFE	Buy	Pfizer Inc	$7,819,000	+15.6%	213,053	+3.0%	2.71%	+2.8%
FISV	New	Fiserv Inc	$6,223,000	–	60,391	–	2.16%	–
SYK	Buy	Stryker Corp	$5,612,000	+18.3%	26,935	+2.3%	1.95%	+5.2%
UN	Buy	Unilever	$5,294,000	+19.9%	87,643	+5.7%	1.84%	+6.6%
CNNE	New	Cannae Holdings, Inc.	$4,933,000	–	132,402	–	1.71%	–
MDT	Buy	Medtronic Plc	$4,706,000	+13.5%	45,285	+0.1%	1.63%	+0.9%
ABT	Sell	Abbott Laboratories	$4,403,000	+18.5%	40,457	-0.4%	1.53%	+5.4%
PEP	Buy	Pepsico Inc	$3,535,000	+5.6%	25,507	+0.8%	1.23%	-6.1%
BDX	Sell	Becton Dickinson	$3,332,000	-2.9%	14,322	-0.1%	1.16%	-13.7%
QQQ	Sell	Invesco Qqq Trust	$3,153,000	+3.1%	11,348	-8.1%	1.09%	-8.3%
DEM	Buy	Wisdomtree Emerging Markets Hi	$3,086,000	+12.1%	87,577	+14.9%	1.07%	-0.4%
MKL	Buy	Markel Corp	$3,011,000	+13.9%	3,092	+8.0%	1.04%	+1.3%
MCD	Sell	Mcdonalds Corp	$2,984,000	+18.5%	13,594	-0.5%	1.04%	+5.3%
MRK	Buy	Merck & Co. Inc.	$2,819,000	+10.2%	33,982	+2.7%	0.98%	-2.0%
ABBV	Sell	Abbvie Inc	$2,630,000	-11.1%	30,030	-0.3%	0.91%	-21.0%
GDX	Sell	Vaneck Vectors Gold Miners	$2,071,000	-1.5%	52,895	-7.7%	0.72%	-12.4%
DIS	Sell	Walt Disney Co	$1,914,000	+8.0%	15,424	-3.0%	0.66%	-4.0%
CVS	Sell	Cvs Health Corp	$1,619,000	-10.3%	27,715	-0.2%	0.56%	-20.2%
PID	Buy	Invesco International Dividend	$1,039,000	+24.6%	81,911	+19.5%	0.36%	+10.8%
FNDE	Buy	Schwab Fundamental Emerging Ma	$970,000	+63.9%	40,877	+61.8%	0.34%	+45.5%
BAYRY	Sell	Bayer	$924,000	-20.3%	61,774	-0.8%	0.32%	-29.0%
VZ	Sell	Verizon	$779,000	+2.1%	13,102	-5.4%	0.27%	-9.4%
PM	Buy	Philip Morris Intl	$680,000	+9.7%	9,061	+2.4%	0.24%	-2.5%
JPM	Buy	J P Morgan Chase & Co	$669,000	+4.7%	6,948	+2.3%	0.23%	-6.8%
NSRGY	Buy	Nestle	$627,000	+7.9%	5,261	+0.0%	0.22%	-4.4%
AMGN	Sell	Amgen Inc.	$415,000	+4.8%	1,631	-2.8%	0.14%	-6.5%
COST	Sell	Costco Wholesale Co	$360,000	+16.1%	1,015	-0.6%	0.12%	+3.3%
MO	Buy	Altria Group Inc	$331,000	-0.3%	8,577	+1.4%	0.12%	-11.5%
KL	Sell	Kirkland Lake Gold	$288,000	+17.1%	5,920	-0.7%	0.10%	+4.2%
CSCO	Sell	Cisco Systems Inc	$246,000	-18.8%	6,240	-3.8%	0.08%	-28.0%
INTC	Sell	Intel Corp	$233,000	-18.8%	4,508	-5.9%	0.08%	-27.7%
RTX	New	Raytheon Technologies Co	$212,000	–	3,682	–	0.07%	–
BMY	Sell	Bristol-Myers Squibb	$208,000	-4.1%	3,458	-6.1%	0.07%	-15.3%
ADP	Sell	Auto Data Processing	$206,000	-20.2%	1,474	-15.0%	0.07%	-29.7%
BA	Exit	Boeing Co	$0	–	-1,273	–	-0.09%	–
COP	Exit	Conocophillips	$0	–	-22,597	–	-0.37%	–
PSX	Exit	Phillips 66	$0	–	-17,266	–	-0.48%	–
CVX	Exit	Chevron Corp	$0	–	-41,779	–	-1.45%	–
XOM	Exit	Exxon Mobil Corp	$0	–	-96,079	–	-1.68%	–

Q2 2020

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway	$40,104,000	–	224,658	–	15.64%	–
MSFT	New	Microsoft Corp	$16,937,000	–	83,225	–	6.61%	–
NEM	New	Newmont Corp	$16,410,000	–	265,794	–	6.40%	–
JNJ	New	Johnson & Johnson	$15,500,000	–	110,218	–	6.05%	–
	New	Barrick Gold Corp	$15,029,000	–	557,872	–	5.86%	–
AEM	New	Agnico Eagle Mines	$14,614,000	–	228,129	–	5.70%	–
CEF	New	Sprott Physical Gold & Silver	$12,274,000	–	726,258	–	4.79%	–
GOOGL	New	Alphabet Inc. Class A	$12,086,000	–	8,523	–	4.72%	–
LBRDK	New	Liberty Broadband	$9,483,000	–	76,499	–	3.70%	–
PAAS	New	Pan American Silver Corp	$8,017,000	–	263,791	–	3.13%	–
CMCSA	New	Comcast Corp	$7,805,000	–	200,238	–	3.04%	–
AAPL	New	Apple Inc	$7,640,000	–	20,943	–	2.98%	–
PFE	New	Pfizer Inc	$6,765,000	–	206,893	–	2.64%	–
FB	New	Facebook Inc	$6,749,000	–	29,720	–	2.63%	–
SYK	New	Stryker Corp	$4,745,000	–	26,331	–	1.85%	–
UN	New	Unilever	$4,416,000	–	82,892	–	1.72%	–
XOM	New	Exxon Mobil Corp	$4,297,000	–	96,079	–	1.68%	–
MDT	New	Medtronic Plc	$4,148,000	–	45,234	–	1.62%	–
CVX	New	Chevron Corp	$3,728,000	–	41,779	–	1.45%	–
ABT	New	Abbott Laboratories	$3,715,000	–	40,628	–	1.45%	–
BDX	New	Becton Dickinson	$3,432,000	–	14,343	–	1.34%	–
PEP	New	Pepsico Inc	$3,347,000	–	25,305	–	1.31%	–
QQQ	New	Invesco Qqq Trust	$3,057,000	–	12,345	–	1.19%	–
ABBV	New	Abbvie Inc	$2,957,000	–	30,120	–	1.15%	–
DEM	New	Wisdomtree Emerging Markets Hi	$2,753,000	–	76,209	–	1.07%	–
MKL	New	Markel Corp	$2,644,000	–	2,864	–	1.03%	–
MRK	New	Merck & Co. Inc.	$2,558,000	–	33,077	–	1.00%	–
MCD	New	Mcdonalds Corp	$2,519,000	–	13,656	–	0.98%	–
GDX	New	Vaneck Vectors Gold Miners	$2,102,000	–	57,317	–	0.82%	–
CVS	New	CVS Health Corp	$1,805,000	–	27,777	–	0.70%	–
DIS	New	Walt Disney Co	$1,773,000	–	15,904	–	0.69%	–
PSX	New	Phillips 66	$1,241,000	–	17,266	–	0.48%	–
BAYRY	New	Bayer	$1,159,000	–	62,250	–	0.45%	–
COP	New	Conocophillips	$950,000	–	22,597	–	0.37%	–
PID	New	Invesco International Dividend	$834,000	–	68,540	–	0.32%	–
AMZN	New	Amazon.Com Inc	$792,000	–	287	–	0.31%	–
VZ	New	Verizon	$763,000	–	13,845	–	0.30%	–
JPM	New	J P Morgan Chase & Co	$639,000	–	6,793	–	0.25%	–
PM	New	Philip Morris Intl	$620,000	–	8,851	–	0.24%	–
FNDE	New	Schwab Fundamental Emerging Ma	$592,000	–	25,271	–	0.23%	–
NSRGY	New	Nestle	$581,000	–	5,259	–	0.23%	–
V	New	Visa Inc	$482,000	–	2,494	–	0.19%	–
AMGN	New	Amgen Inc.	$396,000	–	1,678	–	0.15%	–
AMAT	New	Applied Materials	$389,000	–	6,441	–	0.15%	–
PG	New	Procter & Gamble	$371,000	–	3,105	–	0.14%	–
ROST	New	Ross Stores Inc	$341,000	–	4,000	–	0.13%	–
MO	New	Altria Group Inc	$332,000	–	8,459	–	0.13%	–
VEA	New	Vanguard Ftse Developed Market	$332,000	–	8,550	–	0.13%	–
COST	New	Costco Wholesale Co	$310,000	–	1,021	–	0.12%	–
CSCO	New	Cisco Systems Inc	$303,000	–	6,488	–	0.12%	–
INTC	New	Intel Corp	$287,000	–	4,792	–	0.11%	–
	New	Berkshire Hathaway Class A	$267,000	–	1	–	0.10%	–
ADP	New	Auto Data Processing	$258,000	–	1,734	–	0.10%	–
KL	New	Kirkland Lake Gold	$246,000	–	5,960	–	0.10%	–
BA	New	Boeing Co	$233,000	–	1,273	–	0.09%	–
BMY	New	Bristol-Myers Squibb	$217,000	–	3,682	–	0.08%	–

Q4 2019

			Value		Shares		↓ Weighting
BMY	Exit	Bristol-Myers Squibb Co	$0	–	-3,982	–	-0.09%	–
NKE	Exit	Nike Inc	$0	–	-2,308	–	-0.09%	–
AMAT	Exit	Applied Materials Inc.	$0	–	-5,000	–	-0.11%	–
CAT	Exit	Caterpillar Inc	$0	–	-1,967	–	-0.11%	–
COST	Exit	Costco	$0	–	-882	–	-0.11%	–
BAC	Exit	Bank Of America Corp	$0	–	-9,013	–	-0.11%	–
BRKA	Exit	Berkshire Hathaway-A	$0	–	-1	–	-0.13%	–
CSCO	Exit	Cisco Systems Inc	$0	–	-6,538	–	-0.14%	–
WFC	Exit	Wells Fargo New	$0	–	-6,426	–	-0.14%	–
ADP	Exit	Automatic Data Processing	$0	–	-2,113	–	-0.14%	–
AMGN	Exit	Amgen Incorporated	$0	–	-1,824	–	-0.15%	–
VEA	Exit	Vanguard Tax Managed I Ftse De	$0	–	-8,550	–	-0.15%	–
WY	Exit	Weyerhaeuser Co	$0	–	-14,990	–	-0.18%	–
ROST	Exit	Ross Stores Inc Com	$0	–	-4,000	–	-0.19%	–
PG	Exit	Procter & Gamble	$0	–	-3,564	–	-0.19%	–
FNDE	Exit	Schwab Fundamental Emerg Mkts	$0	–	-16,172	–	-0.19%	–
PM	Exit	Philip Morris Intl Inc	$0	–	-6,205	–	-0.20%	–
V	Exit	Visa Inc	$0	–	-2,908	–	-0.21%	–
AMZN	Exit	Amazon Com Inc	$0	–	-290	–	-0.21%	–
NSRGY	Exit	Nestle Sa	$0	–	-5,285	–	-0.24%	–
INTC	Exit	Intel Corp	$0	–	-11,163	–	-0.24%	–
UN	Exit	Unilever	$0	–	-10,211	–	-0.26%	–
BA	Exit	Boeing Co	$0	–	-2,079	–	-0.34%	–
JPM	Exit	J. P. Morgan	$0	–	-7,385	–	-0.37%	–
CTVA	Exit	Corteva Inc	$0	–	-32,154	–	-0.38%	–
VZ	Exit	Verizon Communications	$0	–	-15,910	–	-0.41%	–
PID	Exit	Powershares Intl Dividend Achi	$0	–	-74,195	–	-0.51%	–
T	Exit	A T & T Corp	$0	–	-33,537	–	-0.54%	–
HEDJ	Exit	Wisdomtree Europe Hedged Equit	$0	–	-19,268	–	-0.55%	–
KO	Exit	Coca Cola Company	$0	–	-23,900	–	-0.55%	–
COP	Exit	Conocophillips	$0	–	-23,220	–	-0.56%	–
DOW	Exit	Dow Chemical Co	$0	–	-31,691	–	-0.64%	–
GDX	Exit	Market Vectors Gold Miners Etf	$0	–	-65,854	–	-0.75%	–
BAYRY	Exit	Bayer A G Sponsored Adr	$0	–	-100,667	–	-0.76%	–
PSX	Exit	Phillips 66	$0	–	-18,158	–	-0.79%	–
CVS	Exit	Cvs Caremark Corp.	$0	–	-33,037	–	-0.89%	–
FRFHF	Exit	Fairfax Financial Holdings Lim	$0	–	-5,485	–	-1.03%	–
AIG	Exit	American International Group	$0	–	-44,045	–	-1.04%	–
ABBV	Exit	Abbvie Inc	$0	–	-32,471	–	-1.05%	–
DD	Exit	Dupont	$0	–	-34,793	–	-1.06%	–
XOM	Exit	Exxon Mobil Corporation	$0	–	-40,376	–	-1.22%	–
MRK	Exit	Merck & Co Inc	$0	–	-34,439	–	-1.24%	–
DEM	Exit	Wisdomtree Emerging Markets Hi	$0	–	-80,842	–	-1.42%	–
DIS	Exit	Disney Walt Co	$0	–	-26,066	–	-1.45%	–
ABT	Exit	Abbott Laboratories	$0	–	-43,739	–	-1.56%	–
MCD	Exit	Mcdonalds Corp	$0	–	-17,128	–	-1.57%	–
CVX	Exit	Chevron Corporation	$0	–	-32,073	–	-1.62%	–
PEP	Exit	Pepsico	$0	–	-27,920	–	-1.63%	–
BDX	Exit	Becton Dickinson & Co Com	$0	–	-15,473	–	-1.67%	–
PAAS	Exit	Pan American Silver Corp	$0	–	-257,929	–	-1.72%	–
BUD	Exit	Anheuser Busch	$0	–	-44,850	–	-1.82%	–
MKL	Exit	Markel Corp Holding Company	$0	–	-3,809	–	-1.92%	–
QQQ	Exit	Nasdaq 100 Tr Unit Ser 1	$0	–	-24,000	–	-1.93%	–
FB	Exit	Facebook Inc	$0	–	-30,494	–	-2.31%	–
MDT	Exit	Medtronic Inc	$0	–	-52,263	–	-2.42%	–
GOOGL	Exit	Alphabet Inc Cl A	$0	–	-5,237	–	-2.72%	–
	Exit	Barrick Gold Corp	$0	–	-401,228	–	-2.96%	–
AAPL	Exit	Apple Inc	$0	–	-32,337	–	-3.09%	–
PFE	Exit	Pfizer Incorporated	$0	–	-202,716	–	-3.10%	–
LBRDK	Exit	Liberty Broadband Corporation	$0	–	-75,455	–	-3.36%	–
AEM	Exit	Agnico-Eagle Mines Ltd	$0	–	-189,743	–	-4.33%	–
NEM	Exit	Newmont Mining Corp	$0	–	-286,231	–	-4.62%	–
CEF	Exit	Central Fund Of Canada	$0	–	-775,868	–	-4.68%	–
MSFT	Exit	Microsoft Corp	$0	–	-98,388	–	-5.83%	–
JNJ	Exit	Johnson & Johnson	$0	–	-106,428	–	-5.87%	–
BRKB	Exit	Berkshire Hathaway-B	$0	–	-204,598	–	-18.13%	–

Q3 2019

			Value		Shares		↓ Weighting
BRKB	Buy	Berkshire Hathaway-B	$42,560,000	+2.0%	204,598	+4.5%	18.13%	+0.4%
JNJ	Buy	Johnson & Johnson	$13,770,000	-0.6%	106,428	+7.0%	5.87%	-2.2%
MSFT	Sell	Microsoft Corp	$13,679,000	+1.7%	98,388	-2.0%	5.83%	+0.1%
CEF	Sell	Central Fund Of Canada	$10,994,000	+4.7%	775,868	-2.3%	4.68%	+3.0%
NEM	Buy	Newmont Mining Corp	$10,854,000	-1.4%	286,231	+0.0%	4.62%	-2.9%
AEM	Buy	Agnico-Eagle Mines Ltd	$10,172,000	+5.7%	189,743	+1.0%	4.33%	+4.1%
LBRDK	Buy	Liberty Broadband Corporation	$7,898,000	+1.0%	75,455	+0.6%	3.36%	-0.6%
PFE	Buy	Pfizer Incorporated	$7,284,000	-16.9%	202,716	+0.2%	3.10%	-18.2%
AAPL	Sell	Apple Inc	$7,243,000	+11.8%	32,337	-1.2%	3.09%	+10.1%
	New	Barrick Gold Corp	$6,953,000	–	401,228	–	2.96%	–
GOOGL	Buy	Alphabet Inc Cl A	$6,395,000	+17.2%	5,237	+3.9%	2.72%	+15.4%
MDT	Sell	Medtronic Inc	$5,677,000	+11.1%	52,263	-0.4%	2.42%	+9.3%
FB	Buy	Facebook Inc	$5,430,000	-3.6%	30,494	+4.4%	2.31%	-5.2%
QQQ	Sell	Nasdaq 100 Tr Unit Ser 1	$4,531,000	-13.6%	24,000	-14.5%	1.93%	-14.9%
MKL	Buy	Markel Corp Holding Company	$4,502,000	+9.2%	3,809	+0.7%	1.92%	+7.5%
BUD	Sell	Anheuser Busch	$4,267,000	+4.9%	44,850	-2.4%	1.82%	+3.3%
PAAS	Buy	Pan American Silver Corp	$4,044,000	+24.0%	257,929	+2.1%	1.72%	+22.1%
BDX	Sell	Becton Dickinson & Co Com	$3,914,000	0.0%	15,473	-0.4%	1.67%	-1.6%
PEP	Buy	Pepsico	$3,828,000	+8.0%	27,920	+3.2%	1.63%	+6.3%
CVX	Sell	Chevron Corporation	$3,804,000	-7.1%	32,073	-2.5%	1.62%	-8.5%
MCD	Sell	Mcdonalds Corp	$3,677,000	-0.5%	17,128	-3.7%	1.57%	-2.1%
ABT	Sell	Abbott Laboratories	$3,660,000	-1.0%	43,739	-0.5%	1.56%	-2.6%
DIS	Buy	Disney Walt Co	$3,397,000	-2.7%	26,066	+4.3%	1.45%	-4.2%
DEM	Buy	Wisdomtree Emerging Markets Hi	$3,340,000	-2.3%	80,842	+5.6%	1.42%	-3.9%
MRK	Sell	Merck & Co Inc	$2,899,000	-0.2%	34,439	-0.6%	1.24%	-1.8%
XOM	Buy	Exxon Mobil Corporation	$2,851,000	+6.5%	40,376	+15.6%	1.22%	+4.8%
DD	Buy	Dupont	$2,481,000	-1.8%	34,793	+3.4%	1.06%	-3.3%
ABBV	Sell	Abbvie Inc	$2,459,000	+3.5%	32,471	-0.6%	1.05%	+1.9%
AIG	Sell	American International Group	$2,453,000	+3.9%	44,045	-0.6%	1.04%	+2.3%
FRFHF	Buy	Fairfax Financial Holdings Lim	$2,420,000	-4.1%	5,485	+6.7%	1.03%	-5.6%
PSX	Sell	Phillips 66	$1,859,000	+9.2%	18,158	-0.3%	0.79%	+7.5%
BAYRY	Sell	Bayer A G Sponsored Adr	$1,781,000	-2.1%	100,667	-3.4%	0.76%	-3.6%
GDX	Sell	Market Vectors Gold Miners Etf	$1,759,000	+4.2%	65,854	-0.3%	0.75%	+2.5%
DOW	Sell	Dow Chemical Co	$1,510,000	-5.4%	31,691	-2.1%	0.64%	-6.9%
COP	Buy	Conocophillips	$1,323,000	-6.6%	23,220	+0.0%	0.56%	-8.0%
KO	Sell	Coca Cola Company	$1,301,000	+5.1%	23,900	-1.7%	0.55%	+3.4%
HEDJ	Sell	Wisdomtree Europe Hedged Equit	$1,297,000	-3.2%	19,268	-4.9%	0.55%	-4.7%
T	Sell	A T & T Corp	$1,269,000	+9.6%	33,537	-3.0%	0.54%	+8.0%
PID	Sell	Powershares Intl Dividend Achi	$1,190,000	-6.3%	74,195	-4.5%	0.51%	-7.8%
VZ	Sell	Verizon Communications	$960,000	+1.3%	15,910	-4.2%	0.41%	-0.2%
CTVA	Sell	Corteva Inc	$900,000	-7.3%	32,154	-2.1%	0.38%	-8.8%
JPM	Buy	J. P. Morgan	$869,000	+7.0%	7,385	+1.7%	0.37%	+5.4%
BA	Sell	Boeing Co	$791,000	+2.1%	2,079	-2.3%	0.34%	+0.6%
UN	Buy	Unilever	$613,000	+97.1%	10,211	+99.3%	0.26%	+93.3%
INTC	Buy	Intel Corp	$575,000	+7.9%	11,163	+0.3%	0.24%	+6.1%
NSRGY	Buy	Nestle Sa	$573,000	+6.7%	5,285	+1.8%	0.24%	+5.2%
V	Buy	Visa Inc	$500,000	+9.9%	2,908	+11.0%	0.21%	+8.1%
PM	Buy	Philip Morris Intl Inc	$471,000	+51.9%	6,205	+57.0%	0.20%	+50.0%
FNDE	Buy	Schwab Fundamental Emerg Mkts	$443,000	+28.8%	16,172	+34.9%	0.19%	+26.8%
PG	Sell	Procter & Gamble	$443,000	-15.6%	3,564	-25.6%	0.19%	-16.7%
WY	Sell	Weyerhaeuser Co	$415,000	+3.0%	14,990	-2.0%	0.18%	+1.7%
VEA	New	Vanguard Tax Managed I Ftse De	$351,000	–	8,550	–	0.15%	–
WFC	Buy	Wells Fargo New	$324,000	+9.1%	6,426	+2.4%	0.14%	+7.0%
CSCO	Buy	Cisco Systems Inc	$323,000	-9.8%	6,538	+0.1%	0.14%	-11.0%
BAC	Buy	Bank Of America Corp	$263,000	+3.5%	9,013	+2.8%	0.11%	+1.8%
COST	Buy	Costco	$254,000	+9.0%	882	+0.1%	0.11%	+6.9%
CAT	Sell	Caterpillar Inc	$248,000	-11.4%	1,967	-4.1%	0.11%	-12.4%
NKE	New	Nike Inc	$217,000	–	2,308	–	0.09%	–
BMY	New	Bristol-Myers Squibb Co	$202,000	–	3,982	–	0.09%	–
LDSYF	Exit	Lifestyle Delivery Sys Com	$0	–	-19,473	–	-0.00%	–
ICSH	Exit	Ishares Tr Ultr Sh Trm Bd	$0	–	-41,633	–	-0.91%	–
GOLD	Exit	Barrick Gold Corp	$0	–	-383,692	–	-2.62%	–

Q2 2019

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway-B	$41,734,000	–	195,778	–	18.06%	–
JNJ	New	Johnson & Johnson	$13,851,000	–	99,445	–	6.00%	–
MSFT	New	Microsoft Corp	$13,450,000	–	100,405	–	5.82%	–
NEM	New	Newmont Mining Corp	$11,008,000	–	286,138	–	4.76%	–
CEF	New	Central Fund Of Canada	$10,504,000	–	793,990	–	4.55%	–
AEM	New	Agnico-Eagle Mines Ltd	$9,622,000	–	187,774	–	4.16%	–
PFE	New	Pfizer Incorporated	$8,764,000	–	202,306	–	3.79%	–
LBRDK	New	Liberty Broadband Corporation	$7,818,000	–	75,013	–	3.38%	–
AAPL	New	Apple Inc	$6,479,000	–	32,734	–	2.80%	–
GOLD	New	Barrick Gold Corp	$6,051,000	–	383,692	–	2.62%	–
FB	New	Facebook Inc	$5,635,000	–	29,196	–	2.44%	–
GOOGL	New	Alphabet Inc Cl A	$5,456,000	–	5,039	–	2.36%	–
QQQ	New	Nasdaq 100 Tr Unit Ser 1	$5,243,000	–	28,079	–	2.27%	–
MDT	New	Medtronic Inc	$5,110,000	–	52,472	–	2.21%	–
MKL	New	Markel Corp Holding Company	$4,121,000	–	3,782	–	1.78%	–
CVX	New	Chevron Corporation	$4,095,000	–	32,909	–	1.77%	–
BUD	New	Anheuser Busch	$4,067,000	–	45,950	–	1.76%	–
BDX	New	Becton Dickinson & Co Com	$3,914,000	–	15,533	–	1.69%	–
ABT	New	Abbott Laboratories	$3,698,000	–	43,968	–	1.60%	–
MCD	New	Mcdonalds Corp	$3,695,000	–	17,793	–	1.60%	–
PEP	New	Pepsico	$3,546,000	–	27,046	–	1.54%	–
DIS	New	Disney Walt Co	$3,490,000	–	24,992	–	1.51%	–
DEM	New	Wisdomtree Emerging Markets Hi	$3,420,000	–	76,569	–	1.48%	–
PAAS	New	Pan American Silver Corp	$3,260,000	–	252,517	–	1.41%	–
MRK	New	Merck & Co Inc	$2,906,000	–	34,660	–	1.26%	–
XOM	New	Exxon Mobil Corporation	$2,677,000	–	34,933	–	1.16%	–
DD	New	Dupont	$2,526,000	–	33,646	–	1.09%	–
FRFHF	New	Fairfax Financial Holdings Lim	$2,524,000	–	5,140	–	1.09%	–
ABBV	New	Abbvie Inc	$2,375,000	–	32,656	–	1.03%	–
AIG	New	American International Group	$2,361,000	–	44,316	–	1.02%	–
ICSH	New	Ishares Tr Ultr Sh Trm Bd	$2,098,000	–	41,633	–	0.91%	–
BAYRY	New	Bayer A G Sponsored Adr	$1,819,000	–	104,239	–	0.79%	–
CVS	New	Cvs Caremark Corp.	$1,800,000	–	33,037	–	0.78%	–
PSX	New	Phillips 66	$1,703,000	–	18,205	–	0.74%	–
GDX	New	Market Vectors Gold Miners Etf	$1,688,000	–	66,048	–	0.73%	–
DOW	New	Dow Chemical Co	$1,596,000	–	32,370	–	0.69%	–
COP	New	Conocophillips	$1,416,000	–	23,213	–	0.61%	–
HEDJ	New	Wisdomtree Europe Hedged Equit	$1,340,000	–	20,255	–	0.58%	–
PID	New	Powershares Intl Dividend Achi	$1,270,000	–	77,695	–	0.55%	–
KO	New	Coca Cola Company	$1,238,000	–	24,311	–	0.54%	–
T	New	A T & T Corp	$1,158,000	–	34,560	–	0.50%	–
CTVA	New	Corteva Inc	$971,000	–	32,851	–	0.42%	–
VZ	New	Verizon Communications	$948,000	–	16,601	–	0.41%	–
JPM	New	J. P. Morgan	$812,000	–	7,265	–	0.35%	–
BA	New	Boeing Co	$775,000	–	2,128	–	0.34%	–
AMZN	New	Amazon Com Inc	$549,000	–	290	–	0.24%	–
NSRGY	New	Nestle Sa	$537,000	–	5,191	–	0.23%	–
INTC	New	Intel Corp	$533,000	–	11,132	–	0.23%	–
PG	New	Procter & Gamble	$525,000	–	4,789	–	0.23%	–
V	New	Visa Inc	$455,000	–	2,620	–	0.20%	–
WY	New	Weyerhaeuser Co	$403,000	–	15,290	–	0.17%	–
ROST	New	Ross Stores Inc Com	$396,000	–	4,000	–	0.17%	–
CSCO	New	Cisco Systems Inc	$358,000	–	6,532	–	0.16%	–
ADP	New	Automatic Data Processing	$349,000	–	2,113	–	0.15%	–
FNDE	New	Schwab Fundamental Emerg Mkts	$344,000	–	11,986	–	0.15%	–
AMGN	New	Amgen Incorporated	$336,000	–	1,824	–	0.14%	–
BRKA	New	Berkshire Hathaway-A	$318,000	–	1	–	0.14%	–
UN	New	Unilever	$311,000	–	5,124	–	0.14%	–
PM	New	Philip Morris Intl Inc	$310,000	–	3,953	–	0.13%	–
WFC	New	Wells Fargo New	$297,000	–	6,274	–	0.13%	–
CAT	New	Caterpillar Inc	$280,000	–	2,052	–	0.12%	–
BAC	New	Bank Of America Corp	$254,000	–	8,764	–	0.11%	–
COST	New	Costco	$233,000	–	881	–	0.10%	–
AMAT	New	Applied Materials Inc.	$225,000	–	5,000	–	0.10%	–
LDSYF	New	Lifestyle Delivery Sys Com	$5,000	–	19,473	–	0.00%	–

Q4 2018

			Value		Shares		↓ Weighting
LDSYF	Exit	Lifestyle Delivery Sys Com	$0	–	-13,000	–	-0.00%	–
EVLV	Exit	Evine Live Inc	$0	–	-11,648	–	-0.01%	–
HYG	Exit	Ishares Iboxx $ High Yield Cor	$0	–	-2,497	–	-0.10%	–
NKE	Exit	Nike Inc	$0	–	-2,590	–	-0.10%	–
BMY	Exit	Bristol-Myers Squibb Co	$0	–	-3,592	–	-0.10%	–
QDF	Exit	Flexshares Quality Dividend	$0	–	-5,070	–	-0.11%	–
V	Exit	Visa Inc	$0	–	-1,866	–	-0.13%	–
WFC	Exit	Wells Fargo New	$0	–	-5,995	–	-0.15%	–
PM	Exit	Philip Morris Intl Inc	$0	–	-3,867	–	-0.15%	–
BRKA	Exit	Berkshire Hathaway-A	$0	–	-1	–	-0.15%	–
CAT	Exit	Caterpillar Inc	$0	–	-2,192	–	-0.16%	–
AMGN	Exit	Amgen Incorporated	$0	–	-1,659	–	-0.16%	–
VWO	Exit	Vanguard Intl Eqty Idx Ftse Em	$0	–	-8,518	–	-0.16%	–
GOOG	Exit	Alphabet Inc Cl C	$0	–	-293	–	-0.16%	–
VIS	Exit	Vanguard World Fds Industrial	$0	–	-2,479	–	-0.17%	–
NSRGY	Exit	Nestle Sa	$0	–	-4,501	–	-0.18%	–
ROST	Exit	Ross Stores Inc Com	$0	–	-4,000	–	-0.19%	–
VEA	Exit	Vanguard Tax Managed I Ftse De	$0	–	-9,990	–	-0.20%	–
GOOGL	Exit	Alphabet Inc Cl A	$0	–	-386	–	-0.22%	–
VIG	Exit	Vanguard Dividend Appreciation	$0	–	-4,240	–	-0.22%	–
VCR	Exit	Vanguard World Fds Consum Dis	$0	–	-2,620	–	-0.22%	–
GOLD	Exit	Barrick Gold Corp	$0	–	-48,050	–	-0.25%	–
VHT	Exit	Vanguard World Fds Health Car	$0	–	-3,048	–	-0.26%	–
WY	Exit	Weyerhaeuser Co	$0	–	-18,264	–	-0.28%	–
VFH	Exit	Vanguard World Fds Financials	$0	–	-9,089	–	-0.30%	–
GE	Exit	General Electric Company	$0	–	-56,981	–	-0.30%	–
JPM	Exit	J. P. Morgan	$0	–	-5,780	–	-0.31%	–
INTC	Exit	Intel Corp	$0	–	-16,310	–	-0.36%	–
VZ	Exit	Verizon Communications	$0	–	-14,897	–	-0.37%	–
BA	Exit	Boeing Co	$0	–	-2,305	–	-0.40%	–
VGT	Exit	Vanguard World Fds Inf Tech Et	$0	–	-4,995	–	-0.48%	–
PID	Exit	Powershares Intl Dividend Achi	$0	–	-69,995	–	-0.52%	–
T	Exit	A T & T Corp	$0	–	-36,447	–	-0.58%	–
HEDJ	Exit	Wisdomtree Europe Hedged Equit	$0	–	-20,568	–	-0.61%	–
KO	Exit	Coca Cola Company	$0	–	-30,127	–	-0.65%	–
COP	Exit	Conocophillips	$0	–	-23,851	–	-0.87%	–
GDX	Exit	Market Vectors Gold Miners Etf	$0	–	-112,787	–	-0.98%	–
PSX	Exit	Phillips 66	$0	–	-18,714	–	-0.99%	–
DIS	Exit	Disney Walt Co	$0	–	-22,151	–	-1.22%	–
CVS	Exit	Cvs Caremark Corp.	$0	–	-34,423	–	-1.27%	–
AIG	Exit	American International Group	$0	–	-51,045	–	-1.28%	–
XOM	Exit	Exxon Mobil Corporation	$0	–	-32,296	–	-1.29%	–
DEM	Exit	Wisdomtree Emerging Markets Hi	$0	–	-63,449	–	-1.30%	–
PEP	Exit	Pepsico	$0	–	-25,645	–	-1.35%	–
FRFHF	Exit	Fairfax Financial Holdings Lim	$0	–	-5,855	–	-1.50%	–
MRK	Exit	Merck & Co Inc	$0	–	-45,901	–	-1.53%	–
GG	Exit	Goldcorp Inc	$0	–	-338,005	–	-1.62%	–
PAAS	Exit	Pan American Silver Corp	$0	–	-240,104	–	-1.66%	–
MCD	Exit	Mcdonalds Corp	$0	–	-21,637	–	-1.70%	–
ABT	Exit	Abbott Laboratories	$0	–	-50,143	–	-1.73%	–
BUD	Exit	Anheuser Busch	$0	–	-44,432	–	-1.83%	–
ABBV	Exit	Abbvie Inc	$0	–	-43,545	–	-1.93%	–
CVX	Exit	Chevron Corporation	$0	–	-34,137	–	-1.96%	–
FB	Exit	Facebook Inc	$0	–	-25,611	–	-1.98%	–
BDX	Exit	Becton Dickinson & Co Com	$0	–	-16,892	–	-2.07%	–
MKL	Exit	Markel Corp Holding Company	$0	–	-3,922	–	-2.19%	–
BAYRY	Exit	Bayer A G Sponsored Adr	$0	–	-220,252	–	-2.29%	–
NEM	Exit	Newmont Mining Corp	$0	–	-175,934	–	-2.50%	–
MDT	Exit	Medtronic Inc	$0	–	-58,032	–	-2.68%	–
AEM	Exit	Agnico-Eagle Mines Ltd	$0	–	-168,717	–	-2.71%	–
LBRDK	Exit	Liberty Broadband Corporation	$0	–	-75,101	–	-2.97%	–
AAPL	Exit	Apple Inc	$0	–	-36,294	–	-3.85%	–
PFE	Exit	Pfizer Incorporated	$0	–	-220,649	–	-4.57%	–
CEF	Exit	Central Fund Of Canada	$0	–	-922,403	–	-5.06%	–
MSFT	Exit	Microsoft Corp	$0	–	-123,338	–	-6.63%	–
JNJ	Exit	Johnson & Johnson	$0	–	-102,516	–	-6.65%	–
BRKB	Exit	Berkshire Hathaway-B	$0	–	-190,286	–	-19.14%	–

Q3 2018

			Value		Shares		↓ Weighting
BRKB	Sell	Berkshire Hathaway-B	$40,742,000	+13.7%	190,286	-0.9%	19.14%	+8.9%
JNJ	Sell	Johnson & Johnson	$14,165,000	+12.9%	102,516	-0.9%	6.65%	+8.2%
MSFT	Sell	Microsoft Corp	$14,106,000	+12.0%	123,338	-3.4%	6.63%	+7.4%
CEF	Sell	Central Fund Of Canada	$10,774,000	-8.9%	922,403	-2.3%	5.06%	-12.7%
PFE	Sell	Pfizer Incorporated	$9,724,000	+18.1%	220,649	-2.8%	4.57%	+13.2%
AAPL	Sell	Apple Inc	$8,193,000	+17.3%	36,294	-3.8%	3.85%	+12.4%
LBRDK	Sell	Liberty Broadband Corporation	$6,331,000	+10.2%	75,101	-1.0%	2.97%	+5.6%
AEM	Buy	Agnico-Eagle Mines Ltd	$5,770,000	-25.1%	168,717	+0.3%	2.71%	-28.2%
MDT	Sell	Medtronic Inc	$5,709,000	+13.0%	58,032	-1.6%	2.68%	+8.4%
NEM	Sell	Newmont Mining Corp	$5,313,000	-21.6%	175,934	-2.2%	2.50%	-24.9%
BAYRY	Sell	Bayer A G Sponsored Adr	$4,876,000	-20.0%	220,252	-0.4%	2.29%	-23.4%
MKL	Sell	Markel Corp Holding Company	$4,661,000	+9.2%	3,922	-0.4%	2.19%	+4.6%
BDX	Sell	Becton Dickinson & Co Com	$4,409,000	+7.2%	16,892	-1.6%	2.07%	+2.7%
FB	New	Facebook Inc	$4,212,000	–	25,611	–	1.98%	–
CVX	Sell	Chevron Corporation	$4,174,000	-3.7%	34,137	-0.4%	1.96%	-7.7%
ABBV	Sell	Abbvie Inc	$4,118,000	-1.8%	43,545	-3.8%	1.93%	-5.8%
BUD	Sell	Anheuser Busch	$3,891,000	-15.3%	44,432	-2.6%	1.83%	-18.8%
ABT	Sell	Abbott Laboratories	$3,678,000	+15.5%	50,143	-4.0%	1.73%	+10.8%
MCD	Sell	Mcdonalds Corp	$3,620,000	+3.7%	21,637	-2.9%	1.70%	-0.6%
PAAS	Sell	Pan American Silver Corp	$3,544,000	-19.4%	240,104	-2.3%	1.66%	-22.7%
GG	Buy	Goldcorp Inc	$3,448,000	-22.4%	338,005	+4.3%	1.62%	-25.6%
MRK	Sell	Merck & Co Inc	$3,256,000	+13.6%	45,901	-2.8%	1.53%	+8.8%
FRFHF	Sell	Fairfax Financial Holdings Lim	$3,184,000	-3.8%	5,855	-0.7%	1.50%	-7.8%
PEP	Sell	Pepsico	$2,867,000	+2.1%	25,645	-0.6%	1.35%	-2.2%
DEM	Sell	Wisdomtree Emerging Markets Hi	$2,771,000	+1.7%	63,449	-0.2%	1.30%	-2.5%
XOM	Sell	Exxon Mobil Corporation	$2,746,000	+1.3%	32,296	-1.5%	1.29%	-2.9%
AIG	Sell	American International Group	$2,718,000	+0.1%	51,045	-0.3%	1.28%	-4.0%
CVS	Sell	Cvs Caremark Corp.	$2,710,000	+21.4%	34,423	-0.8%	1.27%	+16.4%
DIS	Sell	Disney Walt Co	$2,590,000	+9.2%	22,151	-2.1%	1.22%	+4.7%
PSX	Sell	Phillips 66	$2,109,000	-1.2%	18,714	-1.6%	0.99%	-5.3%
GDX	Sell	Market Vectors Gold Miners Etf	$2,089,000	-23.0%	112,787	-7.3%	0.98%	-26.2%
COP	Sell	Conocophillips	$1,846,000	+10.5%	23,851	-0.6%	0.87%	+6.0%
KO	Sell	Coca Cola Company	$1,392,000	+3.6%	30,127	-1.6%	0.65%	-0.6%
HEDJ	Sell	Wisdomtree Europe Hedged Equit	$1,300,000	-5.7%	20,568	-5.8%	0.61%	-9.5%
T	Sell	A T & T Corp	$1,224,000	+4.4%	36,447	-0.1%	0.58%	+0.2%
PID	Sell	Powershares Intl Dividend Achi	$1,102,000	-0.3%	69,995	-1.1%	0.52%	-4.4%
VGT	Buy	Vanguard World Fds Inf Tech Et	$1,012,000	+32.1%	4,995	+18.4%	0.48%	+26.7%
BA	Sell	Boeing Co	$857,000	+8.9%	2,305	-1.7%	0.40%	+4.4%
VZ	Sell	Verizon Communications	$795,000	+4.2%	14,897	-1.8%	0.37%	-0.3%
INTC	Sell	Intel Corp	$772,000	-8.0%	16,310	-3.4%	0.36%	-11.7%
GE	Sell	General Electric Company	$643,000	-31.0%	56,981	-16.8%	0.30%	-33.9%
VFH	Buy	Vanguard World Fds Financials	$631,000	+7.7%	9,089	+4.6%	0.30%	+3.1%
WY	Sell	Weyerhaeuser Co	$589,000	-13.0%	18,264	-1.6%	0.28%	-16.6%
VHT	Buy	Vanguard World Fds Health Car	$550,000	+36.8%	3,048	+20.7%	0.26%	+31.0%
GOLD	Sell	Barrick Gold Corp	$532,000	-22.7%	48,050	-8.2%	0.25%	-25.8%
VCR	Buy	Vanguard World Fds Consum Dis	$473,000	+28.2%	2,620	+20.5%	0.22%	+22.7%
VIG	Sell	Vanguard Dividend Appreciation	$469,000	+4.2%	4,240	-4.4%	0.22%	-0.5%
GOOGL	Buy	Alphabet Inc Cl A	$466,000	+11.0%	386	+3.8%	0.22%	+6.3%
VEA	Buy	Vanguard Tax Managed I Ftse De	$432,000	+1.4%	9,990	+0.5%	0.20%	-2.9%
NSRGY	Sell	Nestle Sa	$374,000	-1.8%	4,501	-8.5%	0.18%	-5.9%
VIS	Buy	Vanguard World Fds Industrial	$366,000	+33.6%	2,479	+22.7%	0.17%	+28.4%
GOOG	Sell	Alphabet Inc Cl C	$350,000	-20.6%	293	-25.8%	0.16%	-24.1%
VWO	Buy	Vanguard Intl Eqty Idx Ftse Em	$349,000	-0.3%	8,518	+2.6%	0.16%	-4.7%
AMGN	Sell	Amgen Incorporated	$344,000	+11.3%	1,659	-0.9%	0.16%	+7.3%
CAT	Buy	Caterpillar Inc	$334,000	+12.5%	2,192	+0.0%	0.16%	+7.5%
WFC	Sell	Wells Fargo New	$315,000	-6.8%	5,995	-1.6%	0.15%	-10.8%
PM	Buy	Philip Morris Intl Inc	$315,000	+3.6%	3,867	+2.8%	0.15%	-0.7%
QDF	Sell	Flexshares Quality Dividend	$240,000	-3.6%	5,070	-7.8%	0.11%	-7.4%
BMY	New	Bristol-Myers Squibb Co	$223,000	–	3,592	–	0.10%	–
NKE	Buy	Nike Inc	$219,000	+6.8%	2,590	+0.8%	0.10%	+3.0%
HYG	Sell	Ishares Iboxx $ High Yield Cor	$216,000	-11.1%	2,497	-12.5%	0.10%	-15.1%
EVLV	Sell	Evine Live Inc	$13,000	-35.0%	11,648	-27.0%	0.01%	-40.0%
SDY	Exit	Spdr Series Trust S&p Divid Et	$0	–	-2,264	–	-0.10%	–
AMAT	Exit	Applied Materials Inc.	$0	–	-5,000	–	-0.11%	–
KR	Exit	Kroger Co	$0	–	-8,763	–	-0.12%	–
SPY	Exit	S&p Depository Receipt Trust U	$0	–	-2,419	–	-0.32%	–

Q2 2018

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway-B	$35,846,000	–	192,049	–	17.57%	–
MSFT	New	Microsoft Corp	$12,592,000	–	127,694	–	6.17%	–
JNJ	New	Johnson & Johnson	$12,551,000	–	103,435	–	6.15%	–
CEF	New	Central Fund Of Canada	$11,832,000	–	944,283	–	5.80%	–
PFE	New	Pfizer Incorporated	$8,237,000	–	227,048	–	4.04%	–
AEM	New	Agnico-Eagle Mines Ltd	$7,706,000	–	168,136	–	3.78%	–
AAPL	New	Apple Inc	$6,986,000	–	37,742	–	3.42%	–
NEM	New	Newmont Mining Corp	$6,781,000	–	179,807	–	3.32%	–
BAYRY	New	Bayer A G Sponsored Adr	$6,098,000	–	221,097	–	2.99%	–
LBRDK	New	Liberty Broadband Corporation	$5,745,000	–	75,871	–	2.82%	–
MDT	New	Medtronic Inc	$5,051,000	–	59,005	–	2.48%	–
BUD	New	Anheuser Busch	$4,596,000	–	45,611	–	2.25%	–
GG	New	Goldcorp Inc	$4,444,000	–	324,175	–	2.18%	–
PAAS	New	Pan American Silver Corp	$4,398,000	–	245,691	–	2.16%	–
CVX	New	Chevron Corporation	$4,333,000	–	34,271	–	2.12%	–
MKL	New	Markel Corp Holding Company	$4,270,000	–	3,938	–	2.09%	–
ABBV	New	Abbvie Inc	$4,192,000	–	45,244	–	2.05%	–
BDX	New	Becton Dickinson & Co Com	$4,113,000	–	17,167	–	2.02%	–
MCD	New	Mcdonalds Corp	$3,491,000	–	22,281	–	1.71%	–
FRFHF	New	Fairfax Financial Holdings Lim	$3,309,000	–	5,899	–	1.62%	–
ABT	New	Abbott Laboratories	$3,184,000	–	52,207	–	1.56%	–
MRK	New	Merck & Co Inc	$2,867,000	–	47,231	–	1.40%	–
PEP	New	Pepsico	$2,809,000	–	25,801	–	1.38%	–
DEM	New	Wisdomtree Emerging Markets Hi	$2,726,000	–	63,584	–	1.34%	–
GDX	New	Market Vectors Gold Miners Etf	$2,713,000	–	121,615	–	1.33%	–
AIG	New	American International Group	$2,714,000	–	51,180	–	1.33%	–
XOM	New	Exxon Mobil Corporation	$2,712,000	–	32,787	–	1.33%	–
DIS	New	Disney Walt Co	$2,372,000	–	22,634	–	1.16%	–
CVS	New	Cvs Caremark Corp.	$2,233,000	–	34,705	–	1.09%	–
PSX	New	Phillips 66	$2,135,000	–	19,014	–	1.05%	–
COP	New	Conocophillips	$1,670,000	–	23,991	–	0.82%	–
HEDJ	New	Wisdomtree Europe Hedged Equit	$1,378,000	–	21,824	–	0.68%	–
KO	New	Coca Cola Company	$1,343,000	–	30,610	–	0.66%	–
T	New	A T & T Corp	$1,172,000	–	36,490	–	0.57%	–
PID	New	Powershares Intl Dividend Achi	$1,105,000	–	70,784	–	0.54%	–
GE	New	General Electric Company	$932,000	–	68,491	–	0.46%	–
INTC	New	Intel Corp	$839,000	–	16,877	–	0.41%	–
BA	New	Boeing Co	$787,000	–	2,345	–	0.39%	–
VGT	New	Vanguard World Fds Inf Tech Et	$766,000	–	4,220	–	0.38%	–
VZ	New	Verizon Communications	$763,000	–	15,169	–	0.37%	–
GOLD	New	Barrick Gold Corp	$688,000	–	52,367	–	0.34%	–
WY	New	Weyerhaeuser Co	$677,000	–	18,564	–	0.33%	–
SPY	New	S&p Depository Receipt Trust U	$656,000	–	2,419	–	0.32%	–
JPM	New	J. P. Morgan	$602,000	–	5,780	–	0.30%	–
VFH	New	Vanguard World Fds Financials	$586,000	–	8,692	–	0.29%	–
VIG	New	Vanguard Dividend Appreciation	$450,000	–	4,433	–	0.22%	–
GOOG	New	Alphabet Inc Cl C	$441,000	–	395	–	0.22%	–
VEA	New	Vanguard Tax Managed I Ftse De	$426,000	–	9,940	–	0.21%	–
GOOGL	New	Alphabet Inc Cl A	$420,000	–	372	–	0.21%	–
VHT	New	Vanguard World Fds Health Car	$402,000	–	2,525	–	0.20%	–
NSRGY	New	Nestle Sa	$381,000	–	4,918	–	0.19%	–
VCR	New	Vanguard World Fds Consum Dis	$369,000	–	2,174	–	0.18%	–
VWO	New	Vanguard Intl Eqty Idx Ftse Em	$350,000	–	8,302	–	0.17%	–
ROST	New	Ross Stores Inc Com	$339,000	–	4,000	–	0.17%	–
WFC	New	Wells Fargo New	$338,000	–	6,090	–	0.17%	–
AMGN	New	Amgen Incorporated	$309,000	–	1,674	–	0.15%	–
PM	New	Philip Morris Intl Inc	$304,000	–	3,760	–	0.15%	–
CAT	New	Caterpillar Inc	$297,000	–	2,191	–	0.15%	–
BRKA	New	Berkshire Hathaway-A	$282,000	–	1	–	0.14%	–
VIS	New	Vanguard World Fds Industrial	$274,000	–	2,021	–	0.13%	–
QDF	New	Flexshares Quality Dividend	$249,000	–	5,500	–	0.12%	–
KR	New	Kroger Co	$249,000	–	8,763	–	0.12%	–
V	New	Visa Inc	$247,000	–	1,866	–	0.12%	–
HYG	New	Ishares Iboxx $ High Yield Cor	$243,000	–	2,853	–	0.12%	–
AMAT	New	Applied Materials Inc.	$231,000	–	5,000	–	0.11%	–
SDY	New	Spdr Series Trust S&p Divid Et	$210,000	–	2,264	–	0.10%	–
NKE	New	Nike Inc	$205,000	–	2,570	–	0.10%	–
EVLV	New	Evine Live Inc	$20,000	–	15,947	–	0.01%	–
LDSYF	New	Lifestyle Delivery Sys Com	$8,000	–	13,000	–	0.00%	–

Q4 2017

			Value		Shares		↓ Weighting
LDSYF	Exit	Lifestyle Delivery Sys Com	$0	–	-13,000	–	-0.00%	–
EVLV	Exit	Evine Live Inc	$0	–	-17,988	–	-0.01%	–
PG	Exit	Procter & Gamble	$0	–	-2,234	–	-0.11%	–
GS	Exit	Goldman Sachs Group Com	$0	–	-886	–	-0.11%	–
BMY	Exit	Bristol-Myers Squibb Co	$0	–	-3,367	–	-0.12%	–
QDF	Exit	Flexshares Quality Dividend	$0	–	-5,635	–	-0.13%	–
GOOGL	Exit	Alphabet Inc Cl A	$0	–	-263	–	-0.14%	–
CAT	Exit	Caterpillar Inc	$0	–	-2,184	–	-0.15%	–
BRKA	Exit	Berkshire Hathaway-A	$0	–	-1	–	-0.15%	–
PM	Exit	Philip Morris Intl Inc	$0	–	-2,743	–	-0.16%	–
SDY	Exit	Spdr Series Trust S&p Divid Et	$0	–	-3,389	–	-0.17%	–
AMGN	Exit	Amgen Incorporated	$0	–	-1,674	–	-0.17%	–
WFC	Exit	Wells Fargo New	$0	–	-6,484	–	-0.20%	–
AMAT	Exit	Applied Materials Inc.	$0	–	-7,000	–	-0.20%	–
PID	Exit	Powershares Intl Div Achiev Et	$0	–	-26,256	–	-0.23%	–
INTC	Exit	Intel Corp	$0	–	-11,950	–	-0.25%	–
TGT	Exit	Target Corp.	$0	–	-7,718	–	-0.25%	–
JPM	Exit	J. P. Morgan	$0	–	-5,242	–	-0.27%	–
SPY	Exit	S&p Depository Receipt Trust U	$0	–	-2,319	–	-0.32%	–
WY	Exit	Weyerhaeuser Co	$0	–	-18,726	–	-0.35%	–
BA	Exit	Boeing Co	$0	–	-3,000	–	-0.42%	–
VZ	Exit	Verizon Communications	$0	–	-16,225	–	-0.44%	–
HEDJ	Exit	Wisdomtree Europe Hedged Equit	$0	–	-14,230	–	-0.50%	–
COP	Exit	Conocophillips	$0	–	-24,790	–	-0.68%	–
KO	Exit	Coca Cola Company	$0	–	-30,835	–	-0.76%	–
T	Exit	A T & T Corp	$0	–	-41,035	–	-0.87%	–
WMT	Exit	Wal-Mart Stores Inc	$0	–	-20,671	–	-0.88%	–
GG	Exit	Goldcorp Inc	$0	–	-131,415	–	-0.93%	–
PSX	Exit	Phillips 66	$0	–	-19,071	–	-0.95%	–
XOM	Exit	Exxon Mobil Corporation	$0	–	-25,003	–	-1.11%	–
PEP	Exit	Pepsico	$0	–	-22,681	–	-1.37%	–
FRFHF	Exit	Fairfax Financial Holdings Lim	$0	–	-5,421	–	-1.53%	–
CVS	Exit	Cvs Caremark Corp.	$0	–	-36,958	–	-1.63%	–
GE	Exit	General Electric Company	$0	–	-127,376	–	-1.67%	–
ABT	Exit	Abbott Laboratories	$0	–	-60,791	–	-1.76%	–
MRK	Exit	Merck & Co Inc	$0	–	-54,348	–	-1.89%	–
AIG	Exit	American International Group	$0	–	-61,398	–	-2.05%	–
BDX	Exit	Becton Dickinson & Co Com	$0	–	-19,425	–	-2.07%	–
GDX	Exit	Market Vectors Gold Miners Etf	$0	–	-174,283	–	-2.18%	–
CVX	Exit	Chevron Corporation	$0	–	-35,067	–	-2.24%	–
PAAS	Exit	Pan American Silver Corp	$0	–	-246,523	–	-2.28%	–
MKL	Exit	Markel Corp Holding Company	$0	–	-4,063	–	-2.36%	–
MCD	Exit	Mcdonalds Corp	$0	–	-28,170	–	-2.40%	–
MDT	Exit	Medtronic Inc	$0	–	-66,552	–	-2.81%	–
ABBV	Exit	Abbvie Inc	$0	–	-60,872	–	-2.94%	–
AEM	Exit	Agnico-Eagle Mines Ltd	$0	–	-131,854	–	-3.24%	–
AAPL	Exit	Apple Inc	$0	–	-40,951	–	-3.43%	–
BAYRY	Exit	Bayer A G Sponsored Adr	$0	–	-195,534	–	-3.64%	–
NEM	Exit	Newmont Mining Corp	$0	–	-207,717	–	-4.24%	–
PFE	Exit	Pfizer Incorporated	$0	–	-230,459	–	-4.47%	–
MSFT	Exit	Microsoft Corp	$0	–	-148,415	–	-6.01%	–
CEF	Exit	Central Fund Of Canada	$0	–	-926,427	–	-6.38%	–
JNJ	Exit	Johnson & Johnson	$0	–	-103,886	–	-7.34%	–
BRKB	Exit	Berkshire Hathaway-B	$0	–	-191,233	–	-19.06%	–

Q3 2017

			Value		Shares		↓ Weighting
BRKB	Buy	Berkshire Hathaway-B	$35,057,000	+8.4%	191,233	+0.2%	19.06%	+1.2%
JNJ	Buy	Johnson & Johnson	$13,506,000	-1.4%	103,886	+0.3%	7.34%	-8.0%
CEF	Buy	Central Fund Of Canada	$11,738,000	+4.9%	926,427	+2.1%	6.38%	-2.1%
MSFT	Sell	Microsoft Corp	$11,055,000	-1.7%	148,415	-9.0%	6.01%	-8.3%
PFE	Buy	Pfizer Incorporated	$8,227,000	+8.7%	230,459	+2.3%	4.47%	+1.4%
NEM	Buy	Newmont Mining Corp	$7,791,000	+18.8%	207,717	+2.6%	4.24%	+10.8%
BAYRY	Buy	Bayer A G Sponsored Adr	$6,691,000	+8.7%	195,534	+312.5%	3.64%	+1.4%
AAPL	Buy	Apple Inc	$6,311,000	+10.0%	40,951	+2.8%	3.43%	+2.7%
AEM	Buy	Agnico-Eagle Mines Ltd	$5,961,000	+22.9%	131,854	+22.7%	3.24%	+14.6%
ABBV	Sell	Abbvie Inc	$5,409,000	+20.4%	60,872	-1.8%	2.94%	+12.3%
MDT	Sell	Medtronic Inc	$5,176,000	-12.8%	66,552	-0.5%	2.81%	-18.6%
MCD	Buy	Mcdonalds Corp	$4,414,000	+3.4%	28,170	+1.1%	2.40%	-3.5%
MKL	Sell	Markel Corp Holding Company	$4,339,000	+8.9%	4,063	-0.5%	2.36%	+1.6%
PAAS	Buy	Pan American Silver Corp	$4,203,000	+4.2%	246,523	+2.8%	2.28%	-2.8%
CVX	Sell	Chevron Corporation	$4,120,000	+12.6%	35,067	-0.0%	2.24%	+5.1%
GDX	Sell	Market Vectors Gold Miners Etf	$4,002,000	-34.7%	174,283	-37.2%	2.18%	-39.1%
BDX	Sell	Becton Dickinson & Co Com	$3,806,000	-1.8%	19,425	-2.2%	2.07%	-8.3%
AIG	Sell	American International Group	$3,769,000	-8.3%	61,398	-6.6%	2.05%	-14.4%
MRK	Sell	Merck & Co Inc	$3,480,000	-0.6%	54,348	-0.5%	1.89%	-7.2%
ABT	Buy	Abbott Laboratories	$3,244,000	+10.5%	60,791	+0.7%	1.76%	+3.1%
GE	Buy	General Electric Company	$3,080,000	+1178.0%	127,376	+1328.1%	1.67%	+1095.7%
CVS	Sell	Cvs Caremark Corp.	$3,005,000	+0.3%	36,958	-0.7%	1.63%	-6.4%
FRFHF	Buy	Fairfax Financial Holdings Lim	$2,813,000	+26.1%	5,421	+5.2%	1.53%	+17.7%
PEP	Buy	Pepsico	$2,527,000	-2.2%	22,681	+1.4%	1.37%	-8.8%
XOM	Buy	Exxon Mobil Corporation	$2,050,000	+3.2%	25,003	+1.7%	1.11%	-3.7%
PSX	Buy	Phillips 66	$1,747,000	+13.1%	19,071	+2.1%	0.95%	+5.6%
GG	Buy	Goldcorp Inc	$1,703,000	+222.5%	131,415	+221.2%	0.93%	+200.6%
WMT	Sell	Wal-Mart Stores Inc	$1,615,000	+0.9%	20,671	-2.3%	0.88%	-5.9%
T	Buy	A T & T Corp	$1,607,000	+6.3%	41,035	+2.4%	0.87%	-0.8%
KO	Buy	Coca Cola Company	$1,388,000	+1.2%	30,835	+0.8%	0.76%	-5.5%
COP	Buy	Conocophillips	$1,241,000	+14.6%	24,790	+0.6%	0.68%	+7.0%
HEDJ	Buy	Wisdomtree Europe Hedged Equit	$921,000	+40.4%	14,230	+35.3%	0.50%	+31.2%
VZ	Buy	Verizon Communications	$803,000	+14.9%	16,225	+3.6%	0.44%	+7.4%
BA	Sell	Boeing Co	$763,000	+24.3%	3,000	-3.3%	0.42%	+15.9%
WY	Sell	Weyerhaeuser Co	$637,000	-0.3%	18,726	-1.8%	0.35%	-7.0%
JPM	Buy	J. P. Morgan	$501,000	+13.1%	5,242	+8.1%	0.27%	+5.4%
INTC	Buy	Intel Corp	$455,000	+19.4%	11,950	+5.7%	0.25%	+11.3%
TGT	Sell	Target Corp.	$455,000	+2.5%	7,718	-9.0%	0.25%	-4.6%
PID	Buy	Powershares Intl Div Achiev Et	$424,000	+53.1%	26,256	+45.5%	0.23%	+42.9%
AMAT	Sell	Applied Materials Inc.	$365,000	+10.6%	7,000	-12.5%	0.20%	+3.1%
WFC	Buy	Wells Fargo New	$358,000	-0.3%	6,484	+0.1%	0.20%	-6.7%
PM	Buy	Philip Morris Intl Inc	$304,000	+3.8%	2,743	+9.8%	0.16%	-3.5%
CAT	Buy	Caterpillar Inc	$272,000	+17.7%	2,184	+1.4%	0.15%	+9.6%
GOOGL	Buy	Alphabet Inc Cl A	$256,000	+14.3%	263	+9.1%	0.14%	+6.1%
QDF	Sell	Flexshares Quality Dividend	$239,000	-3.2%	5,635	-6.2%	0.13%	-9.7%
BMY	Sell	Bristol-Myers Squibb Co	$215,000	+2.4%	3,367	-10.7%	0.12%	-4.1%
GS	New	Goldman Sachs Group Com	$210,000	–	886	–	0.11%	–
PG	New	Procter & Gamble	$203,000	–	2,234	–	0.11%	–
LDSYF	New	Lifestyle Delivery Sys Com	$4,000	–	13,000	–	0.00%	–
MO	Exit	Altria Group Inc	$0	–	-2,928	–	-0.13%	–

Q2 2017

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway-B	$32,329,000	–	190,876	–	18.84%	–
JNJ	New	Johnson & Johnson	$13,700,000	–	103,561	–	7.98%	–
MSFT	New	Microsoft Corp	$11,248,000	–	163,178	–	6.55%	–
CEF	New	Central Fund Of Canada	$11,189,000	–	907,477	–	6.52%	–
PFE	New	Pfizer Incorporated	$7,568,000	–	225,312	–	4.41%	–
NEM	New	Newmont Mining Corp	$6,558,000	–	202,464	–	3.82%	–
BAYRY	New	Bayer A G Sponsored Adr	$6,156,000	–	47,400	–	3.59%	–
GDX	New	Market Vectors Gold Miners Etf	$6,132,000	–	277,721	–	3.57%	–
MDT	New	Medtronic Inc	$5,937,000	–	66,901	–	3.46%	–
AAPL	New	Apple Inc	$5,736,000	–	39,826	–	3.34%	–
AEM	New	Agnico-Eagle Mines Ltd	$4,850,000	–	107,485	–	2.83%	–
ABBV	New	Abbvie Inc	$4,493,000	–	61,967	–	2.62%	–
MCD	New	Mcdonalds Corp	$4,269,000	–	27,875	–	2.49%	–
AIG	New	American International Group	$4,111,000	–	65,760	–	2.40%	–
PAAS	New	Pan American Silver Corp	$4,035,000	–	239,898	–	2.35%	–
MKL	New	Markel Corp Holding Company	$3,985,000	–	4,084	–	2.32%	–
BDX	New	Becton Dickinson & Co Com	$3,874,000	–	19,853	–	2.26%	–
CVX	New	Chevron Corporation	$3,659,000	–	35,075	–	2.13%	–
MRK	New	Merck & Co Inc	$3,500,000	–	54,611	–	2.04%	–
CVS	New	Cvs Caremark Corp.	$2,995,000	–	37,220	–	1.74%	–
ABT	New	Abbott Laboratories	$2,935,000	–	60,385	–	1.71%	–
PEP	New	Pepsico	$2,584,000	–	22,376	–	1.51%	–
FRFHF	New	Fairfax Financial Holdings Lim	$2,230,000	–	5,153	–	1.30%	–
XOM	New	Exxon Mobil Corporation	$1,986,000	–	24,596	–	1.16%	–
WMT	New	Wal-Mart Stores Inc	$1,601,000	–	21,161	–	0.93%	–
PSX	New	Phillips 66	$1,544,000	–	18,675	–	0.90%	–
T	New	A T & T Corp	$1,512,000	–	40,078	–	0.88%	–
KO	New	Coca Cola Company	$1,372,000	–	30,588	–	0.80%	–
COP	New	Conocophillips	$1,083,000	–	24,637	–	0.63%	–
VZ	New	Verizon Communications	$699,000	–	15,658	–	0.41%	–
HEDJ	New	Wisdomtree Europe Hedged Equit	$656,000	–	10,520	–	0.38%	–
WY	New	Weyerhaeuser Co	$639,000	–	19,061	–	0.37%	–
BA	New	Boeing Co	$614,000	–	3,103	–	0.36%	–
SPY	New	S&p Depository Receipt Trust U	$561,000	–	2,319	–	0.33%	–
GG	New	Goldcorp Inc	$528,000	–	40,910	–	0.31%	–
TGT	New	Target Corp.	$444,000	–	8,483	–	0.26%	–
JPM	New	J. P. Morgan	$443,000	–	4,848	–	0.26%	–
INTC	New	Intel Corp	$381,000	–	11,303	–	0.22%	–
WFC	New	Wells Fargo New	$359,000	–	6,478	–	0.21%	–
AMAT	New	Applied Materials Inc.	$330,000	–	8,000	–	0.19%	–
SDY	New	Spdr Series Trust S&p Divid Et	$301,000	–	3,389	–	0.18%	–
PM	New	Philip Morris Intl Inc	$293,000	–	2,498	–	0.17%	–
AMGN	New	Amgen Incorporated	$288,000	–	1,674	–	0.17%	–
PID	New	Powershares Intl Div Achiev Et	$277,000	–	18,041	–	0.16%	–
BRKA	New	Berkshire Hathaway-A	$255,000	–	1	–	0.15%	–
QDF	New	Flexshares Quality Dividend	$247,000	–	6,010	–	0.14%	–
GE	New	General Electric Company	$241,000	–	8,919	–	0.14%	–
CAT	New	Caterpillar Inc	$231,000	–	2,153	–	0.14%	–
GOOGL	New	Alphabet Inc Cl A	$224,000	–	241	–	0.13%	–
MO	New	Altria Group Inc	$218,000	–	2,928	–	0.13%	–
BMY	New	Bristol-Myers Squibb Co	$210,000	–	3,769	–	0.12%	–
EVLV	New	Evine Live Inc	$18,000	–	17,988	–	0.01%	–

Q4 2016

			Value		Shares		↓ Weighting
EVLV	Exit	Evine Live Inc	$0	–	-16,471	–	-0.02%	–
QDF	Exit	Flexshares Quality Dividend	$0	–	-6,880	–	-0.16%	–
VZ	Exit	Verizon Communications	$0	–	-5,072	–	-0.16%	–
SDY	Exit	SPDR Series Trust S&p Divid Et	$0	–	-3,239	–	-0.17%	–
QCOM	Exit	Qualcomm Inc	$0	–	-4,410	–	-0.19%	–
GG	Exit	Goldcorp Inc	$0	–	-20,335	–	-0.21%	–
HEDJ	Exit	Wisdomtree Europe Hedged Equit	$0	–	-7,162	–	-0.24%	–
BRKA	Exit	Berkshire Hathaway-A	$0	–	-2	–	-0.27%	–
SPY	Exit	S&p Depository Receipt Trust U	$0	–	-2,319	–	-0.31%	–
WY	Exit	Weyerhaeuser Co	$0	–	-17,549	–	-0.35%	–
CBI	Exit	Chicago Bridge & Iron Company	$0	–	-29,922	–	-0.52%	–
COP	Exit	Conocophillips	$0	–	-27,165	–	-0.73%	–
PSX	Exit	Phillips 66	$0	–	-15,383	–	-0.77%	–
KO	Exit	Coca Cola Company	$0	–	-29,630	–	-0.78%	–
T	Exit	A T & T Corp	$0	–	-39,369	–	-0.99%	–
XOM	Exit	Exxon Mobil Corporation	$0	–	-21,127	–	-1.14%	–
PEP	Exit	Pepsico	$0	–	-22,406	–	-1.51%	–
ABT	Exit	Abbott Laboratories	$0	–	-62,285	–	-1.64%	–
FRFHF	Exit	Fairfax Financial Holdings Lim	$0	–	-5,091	–	-1.85%	–
MRK	Exit	Merck & Co Inc	$0	–	-50,662	–	-1.96%	–
CVX	Exit	Chevron Corporation	$0	–	-32,428	–	-2.07%	–
CVS	Exit	CVS Caremark Corp.	$0	–	-39,812	–	-2.20%	–
AAPL	Exit	Apple Inc	$0	–	-31,389	–	-2.20%	–
MCD	Exit	Mcdonalds Corp	$0	–	-31,737	–	-2.27%	–
BDX	Exit	Becton Dickinson & Co Com	$0	–	-20,787	–	-2.32%	–
MKL	Exit	Markel Corp Holding Company	$0	–	-4,176	–	-2.41%	–
PAAS	Exit	Pan American Silver Corp	$0	–	-249,158	–	-2.72%	–
ABBV	Exit	Abbvie Inc	$0	–	-71,147	–	-2.78%	–
AEM	Exit	Agnico-Eagle Mines Ltd	$0	–	-88,993	–	-2.99%	–
AIG	Exit	American International Group	$0	–	-84,392	–	-3.11%	–
MDT	Exit	Medtronic Inc	$0	–	-72,703	–	-3.90%	–
WMT	Exit	Wal-Mart Stores Inc	$0	–	-93,451	–	-4.18%	–
PFE	Exit	Pfizer Incorporated	$0	–	-211,251	–	-4.44%	–
GDX	Exit	Market Vectors Gold Miners Etf	$0	–	-306,549	–	-5.03%	–
NEM	Exit	Newmont Mining Corp	$0	–	-217,564	–	-5.31%	–
MSFT	Exit	Microsoft Corp	$0	–	-174,449	–	-6.24%	–
CEF	Exit	Central Fund Of Canada	$0	–	-857,511	–	-7.36%	–
JNJ	Exit	Johnson & Johnson	$0	–	-104,568	–	-7.67%	–
BRKB	Exit	Berkshire Hathaway-B	$0	–	-187,325	–	-16.80%	–

Q3 2016

			Value		Shares		↓ Weighting
BRKB	Sell	Berkshire Hathaway-B	$27,063,000	-1.8%	187,325	-1.5%	16.80%	+2.1%
JNJ	Sell	Johnson & Johnson	$12,353,000	-4.4%	104,568	-1.9%	7.67%	-0.7%
CEF	Sell	Central Fund Of Canada	$11,859,000	-1.9%	857,511	-1.4%	7.36%	+1.9%
MSFT	Sell	Microsoft Corp	$10,048,000	+5.0%	174,449	-6.7%	6.24%	+9.1%
NEM	Sell	Newmont Mining Corp	$8,548,000	-14.0%	217,564	-14.4%	5.31%	-10.7%
GDX	Sell	Market Vectors Gold Miners Etf	$8,102,000	-12.9%	306,549	-8.7%	5.03%	-9.5%
PFE	Sell	Pfizer Incorporated	$7,155,000	-5.1%	211,251	-1.3%	4.44%	-1.4%
WMT	Sell	Wal-Mart Stores Inc	$6,740,000	-5.0%	93,451	-3.8%	4.18%	-1.3%
MDT	Sell	Medtronic Inc	$6,282,000	-2.3%	72,703	-1.9%	3.90%	+1.5%
AIG	Sell	American International Group	$5,008,000	+6.4%	84,392	-5.2%	3.11%	+10.5%
AEM	Sell	Agnico-Eagle Mines Ltd	$4,822,000	-0.1%	88,993	-1.4%	2.99%	+3.7%
ABBV	Sell	Abbvie Inc	$4,487,000	-0.8%	71,147	-2.6%	2.78%	+3.0%
PAAS	Sell	Pan American Silver Corp	$4,390,000	+3.5%	249,158	-3.4%	2.72%	+7.5%
MKL	Sell	Markel Corp Holding Company	$3,879,000	-3.5%	4,176	-1.0%	2.41%	+0.2%
BDX	Sell	Becton Dickinson & Co Com	$3,736,000	+5.9%	20,787	-0.0%	2.32%	+10.0%
MCD	Sell	Mcdonalds Corp	$3,661,000	-7.8%	31,737	-3.8%	2.27%	-4.2%
AAPL	Sell	Apple Inc	$3,549,000	+12.8%	31,389	-4.6%	2.20%	+17.2%
CVS	Sell	CVS Caremark Corp.	$3,543,000	-9.4%	39,812	-2.6%	2.20%	-5.9%
CVX	Sell	Chevron Corporation	$3,338,000	-3.2%	32,428	-1.5%	2.07%	+0.5%
MRK	Sell	Merck & Co Inc	$3,162,000	-35.9%	50,662	-40.9%	1.96%	-33.4%
FRFHF	Sell	Fairfax Financial Holdings Lim	$2,984,000	+4.4%	5,091	-4.0%	1.85%	+8.4%
ABT	Sell	Abbott Laboratories	$2,634,000	+5.5%	62,285	-1.9%	1.64%	+9.6%
PEP	Sell	Pepsico	$2,437,000	-1.0%	22,406	-3.6%	1.51%	+2.9%
XOM	Sell	Exxon Mobil Corporation	$1,844,000	-11.1%	21,127	-4.5%	1.14%	-7.6%
T	Sell	A T & T Corp	$1,599,000	-9.4%	39,369	-3.6%	0.99%	-5.9%
KO	Sell	Coca Cola Company	$1,254,000	-7.4%	29,630	-0.8%	0.78%	-3.8%
PSX	Buy	Phillips 66	$1,239,000	+1.9%	15,383	+0.4%	0.77%	+5.8%
COP	Sell	Conocophillips	$1,181,000	-4.5%	27,165	-4.2%	0.73%	-0.8%
CBI	Sell	Chicago Bridge & Iron Company	$839,000	-23.0%	29,922	-4.9%	0.52%	-20.0%
WY	Sell	Weyerhaeuser Co	$561,000	+5.5%	17,549	-1.8%	0.35%	+9.4%
SPY	Sell	S&p Depository Receipt Trust U	$502,000	+2.2%	2,319	-1.1%	0.31%	+6.5%
HEDJ	Sell	Wisdomtree Europe Hedged Equit	$385,000	-28.6%	7,162	-32.9%	0.24%	-25.8%
GG	Buy	Goldcorp Inc	$336,000	+57.7%	20,335	+82.5%	0.21%	+64.6%
QCOM	New	Qualcomm Inc	$302,000	–	4,410	–	0.19%	–
SDY	New	SPDR Series Trust S&p Divid Et	$273,000	–	3,239	–	0.17%	–
VZ	Sell	Verizon Communications	$264,000	-18.8%	5,072	-12.9%	0.16%	-15.5%
QDF	New	Flexshares Quality Dividend	$260,000	–	6,880	–	0.16%	–
EVLV	New	Evine Live Inc	$38,000	–	16,471	–	0.02%	–
GSS	Exit	Golden Star Resources Ltd	$0	–	-11,000	–	-0.00%	–
PHYS	Exit	Sprott Physical Gold Trust	$0	–	-13,427	–	-0.09%	–
NKE	Exit	Nike Inc	$0	–	-3,648	–	-0.12%	–
WBA	Exit	Walgreens Boots Alliance Inc	$0	–	-2,550	–	-0.13%	–

Q2 2016

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway-B	$27,549,000	–	190,267	–	16.46%	–
JNJ	New	Johnson & Johnson	$12,924,000	–	106,550	–	7.72%	–
CEF	New	Central Fund Of Canada	$12,091,000	–	869,873	–	7.22%	–
NEM	New	Newmont Mining Corp	$9,938,000	–	254,036	–	5.94%	–
MSFT	New	Microsoft Corp	$9,568,000	–	186,983	–	5.72%	–
GDX	New	Market Vectors Gold Miners Etf	$9,300,000	–	335,610	–	5.56%	–
PFE	New	Pfizer Incorporated	$7,538,000	–	214,077	–	4.50%	–
WMT	New	Wal-Mart Stores Inc	$7,092,000	–	97,129	–	4.24%	–
MDT	New	Medtronic Inc	$6,428,000	–	74,078	–	3.84%	–
MRK	New	Merck & Co Inc	$4,935,000	–	85,665	–	2.95%	–
AEM	New	Agnico-Eagle Mines Ltd	$4,829,000	–	90,263	–	2.89%	–
AIG	New	American International Group	$4,708,000	–	89,016	–	2.81%	–
ABBV	New	Abbvie Inc	$4,524,000	–	73,068	–	2.70%	–
PAAS	New	Pan American Silver Corp	$4,243,000	–	257,958	–	2.54%	–
MKL	New	Markel Corp Holding Company	$4,020,000	–	4,219	–	2.40%	–
MCD	New	Mcdonalds Corp	$3,971,000	–	32,996	–	2.37%	–
CVS	New	CVS Caremark Corp.	$3,911,000	–	40,855	–	2.34%	–
BDX	New	Becton Dickinson & Co Com	$3,527,000	–	20,797	–	2.11%	–
CVX	New	Chevron Corporation	$3,450,000	–	32,913	–	2.06%	–
AAPL	New	Apple Inc	$3,146,000	–	32,903	–	1.88%	–
FRFHF	New	Fairfax Financial Holdings Lim	$2,859,000	–	5,304	–	1.71%	–
ABT	New	Abbott Laboratories	$2,496,000	–	63,485	–	1.49%	–
PEP	New	Pepsico	$2,461,000	–	23,233	–	1.47%	–
XOM	New	Exxon Mobil Corporation	$2,074,000	–	22,126	–	1.24%	–
T	New	A T & T Corp	$1,765,000	–	40,850	–	1.06%	–
KO	New	Coca Cola Company	$1,354,000	–	29,870	–	0.81%	–
COP	New	Conocophillips	$1,237,000	–	28,370	–	0.74%	–
PSX	New	Phillips 66	$1,216,000	–	15,324	–	0.73%	–
CBI	New	Chicago Bridge & Iron Company	$1,089,000	–	31,457	–	0.65%	–
HEDJ	New	Wisdomtree Europe Hedged Equit	$539,000	–	10,667	–	0.32%	–
WY	New	Weyerhaeuser Co	$532,000	–	17,869	–	0.32%	–
SPY	New	S&p Depository Receipt Trust U	$491,000	–	2,345	–	0.29%	–
BRKA	New	Berkshire Hathaway-A	$434,000	–	2	–	0.26%	–
VZ	New	Verizon Communications	$325,000	–	5,822	–	0.19%	–
WBA	New	Walgreens Boots Alliance Inc	$212,000	–	2,550	–	0.13%	–
GG	New	Goldcorp Inc	$213,000	–	11,145	–	0.13%	–
NKE	New	Nike Inc	$201,000	–	3,648	–	0.12%	–
PHYS	New	Sprott Physical Gold Trust	$147,000	–	13,427	–	0.09%	–
GSS	New	Golden Star Resources Ltd	$7,000	–	11,000	–	0.00%	–

Q4 2015

			Value		Shares		↓ Weighting
GSS	Exit	Golden Star Resources Ltd	$0	–	-11,000	–	-0.00%	–
HEDJ	Exit	WisdomTree Europe Hedged Equit	$0	–	-5,467	–	-0.20%	–
BRKA	Exit	Berkshire Hathaway-A	$0	–	-2	–	-0.26%	–
PCL	Exit	Plum Creek Timber Reit	$0	–	-12,110	–	-0.32%	–
PSX	Exit	Phillips 66	$0	–	-14,795	–	-0.76%	–
COP	Exit	Conocophillips	$0	–	-30,217	–	-0.96%	–
XOM	Exit	Exxon Mobil Corporation	$0	–	-19,633	–	-0.97%	–
AEM	Exit	Agnico-Eagle Mines Ltd	$0	–	-62,370	–	-1.05%	–
CBI	Exit	Chicago Bridge & Iron Company	$0	–	-41,322	–	-1.09%	–
T	Exit	A T & T Corp	$0	–	-56,938	–	-1.23%	–
PEP	Exit	Pepsico	$0	–	-22,930	–	-1.44%	–
ABT	Exit	Abbott Laboratories	$0	–	-62,606	–	-1.67%	–
CVX	Exit	Chevron Corporation	$0	–	-32,916	–	-1.72%	–
KO	Exit	Coca Cola Company	$0	–	-66,405	–	-1.77%	–
PAAS	Exit	Pan American Silver Corp	$0	–	-420,558	–	-1.78%	–
FRFHF	Exit	Fairfax Financial Holdings Lim	$0	–	-6,050	–	-1.83%	–
PCP	Exit	Precision Castparts Corp	$0	–	-12,025	–	-1.84%	–
BDX	Exit	Becton Dickinson & Co Com	$0	–	-22,182	–	-1.96%	–
AAPL	Exit	Apple Inc	$0	–	-29,262	–	-2.14%	–
MKL	Exit	Markel Corp Holding Company	$0	–	-4,512	–	-2.40%	–
CVS	Exit	CVS Caremark Corp.	$0	–	-41,219	–	-2.64%	–
ABBV	Exit	AbbVie Inc	$0	–	-74,921	–	-2.71%	–
MRK	Exit	Merck & Co Inc	$0	–	-90,249	–	-2.96%	–
NEM	Exit	Newmont Mining Corp	$0	–	-284,525	–	-3.04%	–
PFE	Exit	Pfizer Incorporated	$0	–	-202,876	–	-4.24%	–
MCD	Exit	Mcdonalds Corp	$0	–	-64,800	–	-4.24%	–
WMT	Exit	Wal-Mart Stores Inc	$0	–	-99,565	–	-4.29%	–
MDT	Exit	Medtronic Inc	$0	–	-103,557	–	-4.61%	–
AIG	Exit	American International Group	$0	–	-128,609	–	-4.86%	–
GDX	Exit	Market Vectors Gold Miners Etf	$0	–	-540,500	–	-4.94%	–
MSFT	Exit	Microsoft Corp	$0	–	-206,110	–	-6.06%	–
CEF	Exit	Central Fund Of Canada	$0	–	-862,248	–	-6.07%	–
JNJ	Exit	Johnson & Johnson	$0	–	-112,446	–	-6.98%	–
BRKB	Exit	Berkshire Hathaway-B	$0	–	-195,886	–	-16.98%	–

Q3 2015

			Value		Shares		↓ Weighting
BRKB	Buy	Berkshire Hathaway-B	$25,544,000	-4.2%	195,886	+0.0%	16.98%	+7.8%
JNJ	Sell	Johnson & Johnson	$10,497,000	-4.7%	112,446	-0.5%	6.98%	+7.3%
CEF	Sell	Central Fund Of Canada	$9,131,000	-10.0%	862,248	-0.9%	6.07%	+1.2%
MSFT	Sell	Microsoft Corp	$9,122,000	-14.3%	206,110	-14.5%	6.06%	-3.6%
GDX	Sell	Market Vectors Gold Miners Etf	$7,426,000	-24.3%	540,500	-2.1%	4.94%	-14.9%
AIG	Sell	American International Group	$7,308,000	-13.3%	128,609	-5.6%	4.86%	-2.5%
MDT	Sell	Medtronic Inc	$6,932,000	-12.5%	103,557	-3.2%	4.61%	-1.6%
WMT	Sell	Wal-Mart Stores Inc	$6,456,000	-10.5%	99,565	-2.1%	4.29%	+0.7%
MCD	Sell	Mcdonalds Corp	$6,385,000	-2.6%	64,800	-6.1%	4.24%	+9.5%
PFE	Sell	Pfizer Incorporated	$6,372,000	-6.9%	202,876	-0.6%	4.24%	+4.7%
NEM	Buy	Newmont Mining Corp	$4,572,000	-17.3%	284,525	+20.2%	3.04%	-7.0%
MRK	Sell	Merck & Co Inc	$4,457,000	-14.7%	90,249	-1.6%	2.96%	-4.0%
ABBV	Sell	AbbVie Inc	$4,076,000	-20.8%	74,921	-2.2%	2.71%	-10.9%
CVS	Sell	CVS Caremark Corp.	$3,977,000	-10.9%	41,219	-3.2%	2.64%	+0.2%
MKL	Sell	Markel Corp Holding Company	$3,618,000	-6.3%	4,512	-6.5%	2.40%	+5.4%
AAPL	Buy	Apple Inc	$3,228,000	-10.8%	29,262	+1.4%	2.14%	+0.3%
BDX	Sell	Becton Dickinson & Co Com	$2,943,000	-8.8%	22,182	-2.6%	1.96%	+2.6%
PCP	Sell	Precision Castparts Corp	$2,762,000	+14.6%	12,025	-0.3%	1.84%	+28.9%
FRFHF	Sell	Fairfax Financial Holdings Lim	$2,756,000	-9.5%	6,050	-1.8%	1.83%	+1.8%
PAAS	Sell	Pan American Silver Corp	$2,671,000	-29.1%	420,558	-4.1%	1.78%	-20.3%
KO	Sell	Coca Cola Company	$2,664,000	-7.0%	66,405	-9.1%	1.77%	+4.6%
CVX	Buy	Chevron Corporation	$2,596,000	-4.7%	32,916	+16.5%	1.72%	+7.1%
ABT	Sell	Abbott Laboratories	$2,518,000	-26.4%	62,606	-10.2%	1.67%	-17.2%
PEP	Buy	Pepsico	$2,162,000	+3.8%	22,930	+2.8%	1.44%	+16.7%
T	New	A T & T Corp	$1,855,000	–	56,938	–	1.23%	–
CBI	Buy	Chicago Bridge & Iron Company	$1,639,000	-20.6%	41,322	+0.2%	1.09%	-10.7%
XOM	New	Exxon Mobil Corporation	$1,460,000	–	19,633	–	0.97%	–
COP	Sell	Conocophillips	$1,449,000	-23.0%	30,217	-1.3%	0.96%	-13.3%
PSX	Sell	Phillips 66	$1,137,000	-6.2%	14,795	-1.6%	0.76%	+5.6%
PCL	Sell	Plum Creek Timber Reit	$478,000	-4.0%	12,110	-1.4%	0.32%	+8.2%
HEDJ	Buy	WisdomTree Europe Hedged Equit	$299,000	+23.0%	5,467	+38.6%	0.20%	+38.2%
CHK	Exit	Chesapeake Energy Corporation	$0	–	-142,119	–	-0.94%	–
A309PS	Exit	DirecTV	$0	–	-31,793	–	-1.74%	–

Q2 2015

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway-B	$26,659,000	–	195,867	–	15.75%	–
JNJ	New	Johnson & Johnson	$11,009,000	–	112,960	–	6.50%	–
MSFT	New	Microsoft Corp	$10,644,000	–	241,081	–	6.29%	–
CEF	New	Central Fund Of Canada	$10,149,000	–	870,428	–	6.00%	–
GDX	New	Market Vectors Gold Miners Etf	$9,809,000	–	552,293	–	5.80%	–
AIG	New	American International Group	$8,426,000	–	136,297	–	4.98%	–
MDT	New	Medtronic Inc	$7,924,000	–	106,930	–	4.68%	–
WMT	New	Wal-Mart Stores Inc	$7,212,000	–	101,675	–	4.26%	–
PFE	New	Pfizer Incorporated	$6,843,000	–	204,090	–	4.04%	–
MCD	New	Mcdonalds Corp	$6,558,000	–	68,986	–	3.88%	–
NEM	New	Newmont Mining Corp	$5,531,000	–	236,761	–	3.27%	–
MRK	New	Merck & Co Inc	$5,224,000	–	91,763	–	3.09%	–
ABBV	New	AbbVie Inc	$5,146,000	–	76,585	–	3.04%	–
CVS	New	CVS Caremark Corp.	$4,466,000	–	42,581	–	2.64%	–
MKL	New	Markel Corp Holding Company	$3,862,000	–	4,824	–	2.28%	–
PAAS	New	Pan American Silver Corp	$3,768,000	–	438,673	–	2.23%	–
AAPL	New	Apple Inc	$3,619,000	–	28,853	–	2.14%	–
ABT	New	Abbott Laboratories	$3,421,000	–	69,704	–	2.02%	–
BDX	New	Becton Dickinson & Co Com	$3,226,000	–	22,773	–	1.91%	–
FRFHF	New	Fairfax Financial Holdings Lim	$3,045,000	–	6,163	–	1.80%	–
A309PS	New	DirecTV	$2,950,000	–	31,793	–	1.74%	–
KO	New	Coca Cola Company	$2,866,000	–	73,055	–	1.69%	–
CVX	New	Chevron Corporation	$2,725,000	–	28,248	–	1.61%	–
PCP	New	Precision Castparts Corp	$2,410,000	–	12,060	–	1.42%	–
PEP	New	Pepsico	$2,083,000	–	22,313	–	1.23%	–
CBI	New	Chicago Bridge & Iron Company	$2,064,000	–	41,247	–	1.22%	–
COP	New	Conocophillips	$1,881,000	–	30,630	–	1.11%	–
AEM	New	Agnico-Eagle Mines Ltd	$1,769,000	–	62,370	–	1.04%	–
CHK	New	Chesapeake Energy Corporation	$1,587,000	–	142,119	–	0.94%	–
PSX	New	Phillips 66	$1,212,000	–	15,042	–	0.72%	–
PCL	New	Plum Creek Timber Reit	$498,000	–	12,277	–	0.29%	–
BRKA	New	Berkshire Hathaway-A	$410,000	–	2	–	0.24%	–
HEDJ	New	WisdomTree Europe Hedged Equit	$243,000	–	3,945	–	0.14%	–
GSS	New	Golden Star Resources Ltd	$4,000	–	11,000	–	0.00%	–

Q4 2014

			Value		Shares		↓ Weighting
GSS	Exit	Golden Star Resources Ltd	$0	–	-11,000	–	-0.00%	–
SSEIQ	Exit	Seventy Seven Energy Inc	$0	–	-10,679	–	-0.15%	–
BRKA	Exit	Berkshire Hathaway-A	$0	–	-2	–	-0.24%	–
PCL	Exit	Plum Creek Timber Reit	$0	–	-13,390	–	-0.30%	–
PSX	Exit	Phillips 66	$0	–	-15,106	–	-0.71%	–
RIG	Exit	Transocean Inc Ord	$0	–	-38,747	–	-0.72%	–
LH	Exit	Laboratory Corporation of Amer	$0	–	-15,674	–	-0.93%	–
CVX	Exit	Chevron Corporation	$0	–	-14,497	–	-1.00%	–
AEM	Exit	Agnico-Eagle Mines Ltd	$0	–	-64,820	–	-1.09%	–
COP	Exit	Conocophillips	$0	–	-31,546	–	-1.40%	–
FRFHF	Exit	Fairfax Financial Holdings Lim	$0	–	-5,685	–	-1.47%	–
CBI	Exit	Chicago Bridge & Iron Company	$0	–	-45,110	–	-1.51%	–
BDX	Exit	Becton Dickinson & Co Com	$0	–	-23,338	–	-1.54%	–
MCD	Exit	Mcdonalds Corp	$0	–	-28,707	–	-1.58%	–
AAPL	Exit	Apple Inc	$0	–	-27,734	–	-1.62%	–
A309PS	Exit	DirecTV	$0	–	-35,965	–	-1.81%	–
KO	Exit	Coca Cola Company	$0	–	-74,280	–	-1.84%	–
MKL	Exit	Markel Corp Holding Company	$0	–	-5,120	–	-1.89%	–
CVS	Exit	CVS Caremark Corp.	$0	–	-43,946	–	-2.03%	–
CHK	Exit	Chesapeake Energy Corporation	$0	–	-155,118	–	-2.07%	–
ABT	Exit	Abbott Laboratories	$0	–	-93,283	–	-2.25%	–
ABBV	Exit	AbbVie Inc	$0	–	-78,276	–	-2.62%	–
PAAS	Exit	Pan American Silver Corp	$0	–	-476,218	–	-3.03%	–
MRK	Exit	Merck & Co Inc	$0	–	-93,614	–	-3.22%	–
PFE	Exit	Pfizer Incorporated	$0	–	-203,615	–	-3.49%	–
MDT	Exit	Medtronic Inc	$0	–	-118,119	–	-4.25%	–
AIG	Exit	American International Group	$0	–	-141,210	–	-4.43%	–
WMT	Exit	Wal-Mart Stores Inc	$0	–	-103,597	–	-4.60%	–
NEM	Exit	Newmont Mining Corp	$0	–	-367,288	–	-4.91%	–
CEF	Exit	Central Fund Of Canada	$0	–	-873,368	–	-6.24%	–
MSFT	Exit	Microsoft Corp	$0	–	-251,224	–	-6.76%	–
JNJ	Exit	Johnson & Johnson	$0	–	-115,918	–	-7.17%	–
GDX	Exit	Market Vectors Gold Miners Etf	$0	–	-579,235	–	-7.18%	–
BRKB	Exit	Berkshire Hathaway-B	$0	–	-198,900	–	-15.94%	–

Q3 2014

			Value		Shares		↓ Weighting
BRKB	Sell	Berkshire Hathaway-B	$27,476,000	+4.5%	198,900	-4.3%	15.94%	+13.5%
GDX	Sell	Market Vectors Gold Miners Etf	$12,371,000	-21.8%	579,235	-3.1%	7.18%	-15.0%
JNJ	Sell	Johnson & Johnson	$12,356,000	-2.8%	115,918	-4.6%	7.17%	+5.7%
MSFT	Sell	Microsoft Corp	$11,647,000	+3.6%	251,224	-6.8%	6.76%	+12.5%
CEF	Sell	Central Fund Of Canada	$10,751,000	-17.0%	873,368	-2.0%	6.24%	-9.8%
NEM	Sell	Newmont Mining Corp	$8,466,000	-18.1%	367,288	-9.7%	4.91%	-11.1%
WMT	Sell	Wal-Mart Stores Inc	$7,922,000	-1.7%	103,597	-3.5%	4.60%	+6.8%
AIG	Sell	American International Group	$7,628,000	-7.0%	141,210	-6.1%	4.43%	+1.0%
MDT	Sell	Medtronic Inc	$7,317,000	-6.3%	118,119	-3.6%	4.25%	+1.8%
PFE	Buy	Pfizer Incorporated	$6,021,000	+2.8%	203,615	+3.2%	3.49%	+11.7%
MRK	Sell	Merck & Co Inc	$5,549,000	+0.2%	93,614	-2.2%	3.22%	+8.9%
PAAS	Sell	Pan American Silver Corp	$5,229,000	-30.4%	476,218	-2.7%	3.03%	-24.3%
ABBV	Sell	AbbVie Inc	$4,521,000	-2.2%	78,276	-4.4%	2.62%	+6.3%
ABT	Sell	Abbott Laboratories	$3,880,000	-7.5%	93,283	-9.0%	2.25%	+0.5%
CHK	Sell	Chesapeake Energy Corporation	$3,566,000	-32.6%	155,118	-8.8%	2.07%	-26.7%
CVS	Sell	CVS Caremark Corp.	$3,498,000	+1.3%	43,946	-4.1%	2.03%	+10.1%
MKL	Sell	Markel Corp Holding Company	$3,257,000	-13.3%	5,120	-10.6%	1.89%	-5.8%
KO	Sell	Coca Cola Company	$3,169,000	-0.9%	74,280	-1.6%	1.84%	+7.7%
A309PS	Sell	DirecTV	$3,112,000	-3.6%	35,965	-5.3%	1.81%	+4.8%
AAPL	Sell	Apple Inc	$2,794,000	+5.8%	27,734	-2.4%	1.62%	+14.9%
MCD	Buy	Mcdonalds Corp	$2,722,000	-3.4%	28,707	+2.6%	1.58%	+5.0%
BDX	Sell	Becton Dickinson & Co Com	$2,656,000	-10.4%	23,338	-6.9%	1.54%	-2.7%
CBI	New	Chicago Bridge & Iron Company	$2,610,000	–	45,110	–	1.51%	–
FRFHF	Sell	Fairfax Financial Holdings Lim	$2,537,000	-7.2%	5,685	-1.7%	1.47%	+0.8%
COP	Sell	Conocophillips	$2,414,000	-15.8%	31,546	-5.7%	1.40%	-8.5%
AEM	Buy	Agnico-Eagle Mines Ltd	$1,882,000	-23.2%	64,820	+1.3%	1.09%	-16.6%
CVX	Sell	Chevron Corporation	$1,730,000	-14.9%	14,497	-6.9%	1.00%	-7.6%
LH	Sell	Laboratory Corporation of Amer	$1,595,000	-6.9%	15,674	-6.3%	0.93%	+1.2%
RIG	Sell	Transocean Inc Ord	$1,239,000	-31.1%	38,747	-3.0%	0.72%	-25.2%
PSX	Sell	Phillips 66	$1,228,000	-10.9%	15,106	-11.9%	0.71%	-3.1%
PCL	Sell	Plum Creek Timber Reit	$522,000	-17.0%	13,390	-4.0%	0.30%	-9.8%
SSEIQ	Sell	Seventy Seven Energy Inc	$254,000	-9.3%	10,679	-10.3%	0.15%	-2.0%
CWGL	Exit	Crimson Wine	$0	–	-10,734	–	-0.05%	–
LUK	Exit	Leucadia National Corp	$0	–	-91,104	–	-1.28%	–

Q2 2014

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway-B	$26,305,000	–	207,847	–	14.05%	–
GDX	New	Market Vectors Gold Miners Etf	$15,810,000	–	597,720	–	8.44%	–
CEF	New	Central Fund Of Canada	$12,957,000	–	891,108	–	6.92%	–
JNJ	New	Johnson & Johnson	$12,708,000	–	121,467	–	6.79%	–
MSFT	New	Microsoft Corp	$11,246,000	–	269,680	–	6.00%	–
NEM	New	Newmont Mining Corp	$10,343,000	–	406,556	–	5.52%	–
AIG	New	American International Group	$8,204,000	–	150,305	–	4.38%	–
WMT	New	Wal-Mart Stores Inc	$8,061,000	–	107,380	–	4.30%	–
MDT	New	Medtronic Inc	$7,812,000	–	122,516	–	4.17%	–
PAAS	New	Pan American Silver Corp	$7,510,000	–	489,263	–	4.01%	–
PFE	New	Pfizer Incorporated	$5,857,000	–	197,355	–	3.13%	–
MRK	New	Merck & Co Inc	$5,537,000	–	95,720	–	2.96%	–
CHK	New	Chesapeake Energy Corporation	$5,288,000	–	170,152	–	2.82%	–
ABBV	New	AbbVie Inc	$4,622,000	–	81,894	–	2.47%	–
ABT	New	Abbott Laboratories	$4,194,000	–	102,542	–	2.24%	–
MKL	New	Markel Corp Holding Company	$3,756,000	–	5,729	–	2.01%	–
CVS	New	CVS Caremark Corp.	$3,453,000	–	45,819	–	1.84%	–
A309PS	New	DirecTV	$3,228,000	–	37,975	–	1.72%	–
KO	New	Coca Cola Company	$3,199,000	–	75,526	–	1.71%	–
BDX	New	Becton Dickinson & Co Com	$2,965,000	–	25,063	–	1.58%	–
COP	New	Conocophillips	$2,867,000	–	33,444	–	1.53%	–
MCD	New	Mcdonalds Corp	$2,817,000	–	27,966	–	1.50%	–
FRFHF	New	Fairfax Financial Holdings Lim	$2,734,000	–	5,786	–	1.46%	–
AAPL	New	Apple Inc	$2,642,000	–	28,429	–	1.41%	–
AEM	New	Agnico-Eagle Mines Ltd	$2,452,000	–	64,015	–	1.31%	–
LUK	New	Leucadia National Corp	$2,389,000	–	91,104	–	1.28%	–
CVX	New	Chevron Corporation	$2,034,000	–	15,578	–	1.09%	–
RIG	New	Transocean Inc Ord	$1,799,000	–	39,962	–	0.96%	–
LH	New	Laboratory Corporation of Amer	$1,713,000	–	16,729	–	0.92%	–
PSX	New	Phillips 66	$1,379,000	–	17,151	–	0.74%	–
PCL	New	Plum Creek Timber Reit	$629,000	–	13,950	–	0.34%	–
BRKA	New	Berkshire Hathaway-A	$380,000	–	2	–	0.20%	–
SSEIQ	New	Seventy Seven Energy Inc	$280,000	–	11,904	–	0.15%	–
CWGL	New	Crimson Wine	$97,000	–	10,734	–	0.05%	–
GSS	New	Golden Star Resources Ltd	$6,000	–	11,000	–	0.00%	–

Q4 2013

			Value		Shares		↓ Weighting
GSS	Exit	Golden Star Resources Ltd	$0	–	-11,000	–	-0.00%	–
CWGL	Exit	Crimson Wine	$0	–	-12,484	–	-0.07%	–
PCL	Exit	Plum Creek Timber Reit	$0	–	-14,495	–	-0.38%	–
PSX	Exit	Phillips 66	$0	–	-20,401	–	-0.65%	–
AEM	Exit	Agnico-Eagle Mines Ltd	$0	–	-48,310	–	-0.71%	–
WW	Exit	Weight Watchers Intl Com	$0	–	-37,145	–	-0.77%	–
RIG	Exit	Transocean Inc Ord	$0	–	-42,675	–	-1.05%	–
LH	Exit	Laboratory Corporation of Amer	$0	–	-19,586	–	-1.07%	–
CVX	Exit	Chevron Corporation	$0	–	-16,484	–	-1.10%	–
A309PS	Exit	DirecTV	$0	–	-41,375	–	-1.36%	–
FRFHF	Exit	Fairfax Financial Holdings Lim	$0	–	-6,198	–	-1.39%	–
COP	Exit	Conocophillips	$0	–	-36,539	–	-1.40%	–
CVS	Exit	CVS Caremark Corp.	$0	–	-50,543	–	-1.58%	–
MKL	Exit	Markel Corp Holding Company	$0	–	-6,094	–	-1.74%	–
BDX	Exit	Becton Dickinson & Co Com	$0	–	-32,093	–	-1.77%	–
LUK	Exit	Leucadia National Corp	$0	–	-123,383	–	-1.85%	–
ABT	Exit	Abbott Laboratories	$0	–	-116,343	–	-2.13%	–
ABBV	Exit	AbbVie Inc	$0	–	-103,753	–	-2.56%	–
MRK	Exit	Merck & Co Inc	$0	–	-103,050	–	-2.71%	–
CHK	Exit	Chesapeake Energy Corporation	$0	–	-208,221	–	-2.97%	–
PAAS	Exit	Pan American Silver Corp	$0	–	-533,867	–	-3.11%	–
PFE	Exit	Pfizer Incorporated	$0	–	-215,933	–	-3.42%	–
MDT	Exit	Medtronic Inc	$0	–	-138,103	–	-4.06%	–
AIG	Exit	American International Group	$0	–	-170,110	–	-4.56%	–
WMT	Exit	Wal-Mart Stores Inc	$0	–	-116,947	–	-4.77%	–
JNJ	Exit	Johnson & Johnson	$0	–	-133,621	–	-6.39%	–
MSFT	Exit	Microsoft Corp	$0	–	-375,113	–	-6.89%	–
CEF	Exit	Central Fund Of Canada	$0	–	-944,132	–	-7.66%	–
NEM	Exit	Newmont Mining Corp	$0	–	-531,290	–	-8.24%	–
GDX	Exit	Market Vectors Gold Miners Etf	$0	–	-700,834	–	-9.67%	–
BRKB	Exit	Berkshire Hathaway-B	$0	–	-223,088	–	-13.97%	–

Q3 2013

			Value		Shares		↓ Weighting
BRKB	Sell	Berkshire Hathaway-B	$25,323,000	-0.1%	223,088	-1.5%	13.97%	+0.9%
GDX	Sell	Market Vectors Gold Miners Etf	$17,535,000	-0.7%	700,834	-2.8%	9.67%	+0.3%
NEM	Sell	Newmont Mining Corp	$14,929,000	-8.3%	531,290	-2.3%	8.24%	-7.4%
CEF	Sell	Central Fund Of Canada	$13,879,000	+6.0%	944,132	-2.0%	7.66%	+7.1%
MSFT	Sell	Microsoft Corp	$12,484,000	-5.7%	375,113	-2.1%	6.89%	-4.7%
JNJ	Sell	Johnson & Johnson	$11,584,000	-0.9%	133,621	-1.8%	6.39%	+0.2%
WMT	Sell	Wal-Mart Stores Inc	$8,649,000	-1.4%	116,947	-0.7%	4.77%	-0.3%
AIG	Sell	American International Group	$8,272,000	+7.1%	170,110	-1.6%	4.56%	+8.2%
MDT	Sell	Medtronic Inc	$7,354,000	-0.9%	138,103	-4.2%	4.06%	+0.2%
PFE	Sell	Pfizer Incorporated	$6,203,000	+0.6%	215,933	-1.9%	3.42%	+1.6%
PAAS	Sell	Pan American Silver Corp	$5,632,000	-10.4%	533,867	-1.1%	3.11%	-9.4%
CHK	Sell	Chesapeake Energy Corporation	$5,389,000	+20.8%	208,221	-4.9%	2.97%	+22.1%
MRK	Sell	Merck & Co Inc	$4,906,000	+1.1%	103,050	-1.4%	2.71%	+2.2%
ABBV	Sell	AbbVie Inc	$4,641,000	+3.7%	103,753	-4.2%	2.56%	+4.7%
ABT	Sell	Abbott Laboratories	$3,861,000	-7.7%	116,343	-3.0%	2.13%	-6.7%
LUK	Sell	Leucadia National Corp	$3,361,000	-1.3%	123,383	-5.0%	1.85%	-0.2%
BDX	Sell	Becton Dickinson & Co Com	$3,210,000	-7.3%	32,093	-8.4%	1.77%	-6.3%
MKL	Sell	Markel Corp Holding Company	$3,155,000	-2.0%	6,094	-0.3%	1.74%	-1.0%
CVS	Sell	CVS Caremark Corp.	$2,868,000	-3.1%	50,543	-2.4%	1.58%	-2.1%
COP	Sell	Conocophillips	$2,540,000	+11.7%	36,539	-2.8%	1.40%	+12.9%
FRFHF	Buy	Fairfax Financial Holdings Lim	$2,526,000	+4.5%	6,198	+0.0%	1.39%	+5.7%
A309PS	Sell	DirecTV	$2,473,000	-4.1%	41,375	-1.1%	1.36%	-3.1%
CVX	Sell	Chevron Corporation	$2,003,000	-1.2%	16,484	-3.8%	1.10%	-0.2%
LH	Sell	Laboratory Corporation of Amer	$1,942,000	-3.1%	19,586	-2.2%	1.07%	-2.1%
RIG	Sell	Transocean Inc Ord	$1,899,000	-8.3%	42,675	-1.1%	1.05%	-7.3%
WW	Sell	Weight Watchers Intl Com	$1,388,000	-19.6%	37,145	-1.0%	0.77%	-18.7%
AEM	Buy	Agnico-Eagle Mines Ltd	$1,279,000	-3.3%	48,310	+0.6%	0.71%	-2.2%
PSX	Sell	Phillips 66	$1,180,000	-5.2%	20,401	-3.4%	0.65%	-4.3%
PCL	Sell	Plum Creek Timber Reit	$679,000	-2.3%	14,495	-2.7%	0.38%	-1.1%
CWGL	Sell	Crimson Wine	$119,000	+5.3%	12,484	-6.2%	0.07%	+6.5%

Q2 2013

			Value		Shares		↓ Weighting
BRKB	New	Berkshire Hathaway-B	$25,354,000	–	226,535	–	13.84%	–
GDX	New	Market Vectors Gold Miners Etf	$17,662,000	–	721,202	–	9.64%	–
NEM	New	Newmont Mining Corp	$16,286,000	–	543,763	–	8.89%	–
MSFT	New	Microsoft Corp	$13,234,000	–	383,095	–	7.22%	–
CEF	New	Central Fund Of Canada	$13,097,000	–	963,010	–	7.15%	–
JNJ	New	Johnson & Johnson	$11,686,000	–	136,108	–	6.38%	–
WMT	New	Wal-Mart Stores Inc	$8,770,000	–	117,729	–	4.79%	–
AIG	New	American International Group	$7,727,000	–	172,855	–	4.22%	–
MDT	New	Medtronic Inc	$7,418,000	–	144,123	–	4.05%	–
PAAS	New	Pan American Silver Corp	$6,285,000	–	539,937	–	3.43%	–
PFE	New	Pfizer Incorporated	$6,168,000	–	220,198	–	3.37%	–
MRK	New	Merck & Co Inc	$4,855,000	–	104,517	–	2.65%	–
ABBV	New	AbbVie Inc	$4,477,000	–	108,300	–	2.44%	–
CHK	New	Chesapeake Energy Corporation	$4,461,000	–	218,896	–	2.44%	–
ABT	New	Abbott Laboratories	$4,182,000	–	119,895	–	2.28%	–
BDX	New	Becton Dickinson & Co Com	$3,464,000	–	35,048	–	1.89%	–
LUK	New	Leucadia National Corp	$3,404,000	–	129,823	–	1.86%	–
MKL	New	Markel Corp Holding Company	$3,220,000	–	6,110	–	1.76%	–
CVS	New	CVS Caremark Corp.	$2,960,000	–	51,770	–	1.62%	–
A309PS	New	DirecTV	$2,579,000	–	41,845	–	1.41%	–
FRFHF	New	Fairfax Financial Holdings Lim	$2,417,000	–	6,197	–	1.32%	–
COP	New	Conocophillips	$2,274,000	–	37,584	–	1.24%	–
RIG	New	Transocean Inc Ord	$2,070,000	–	43,165	–	1.13%	–
CVX	New	Chevron Corporation	$2,028,000	–	17,139	–	1.11%	–
LH	New	Laboratory Corporation of Amer	$2,005,000	–	20,028	–	1.09%	–
WW	New	Weight Watchers Intl Com	$1,726,000	–	37,515	–	0.94%	–
AEM	New	Agnico-Eagle Mines Ltd	$1,322,000	–	48,020	–	0.72%	–
PSX	New	Phillips 66	$1,245,000	–	21,128	–	0.68%	–
PCL	New	Plum Creek Timber Reit	$695,000	–	14,895	–	0.38%	–
CWGL	New	Crimson Wine	$113,000	–	13,306	–	0.06%	–
GSS	New	Golden Star Resources Ltd	$5,000	–	11,000	–	0.00%	–

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Export Cheviot Value Management, LLC's holdings