FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
AEP Industries Inc. COM 001031103 25284 935400 SH SOLE 935400
AGCO Corporation COM 001084102 7540 325000 SH SOLE 325000
AOL Time Warner COM 00184A105 5850 500000 SH SOLE 500000
ASA Ltd. COM 002050102 11617 360000 SH SOLE 360000
AT&T Corporation COM 001957109 6005 500000 SH SOLE 500000
AT&T Wireless Services COM 00209A106 2060 500000 SH SOLE 500000
Advanced Micro Devices, Inc. COM 007903107 6408 1200000 SH SOLE 1200000
Airborne Inc. COM 009269101 5386 475000 SH SOLE 475000
Alberto Culver Co. CL-A COM 013068200 6915 150000 SH SOLE 150000
Alcoa Inc. COM 013817101 2412 125000 SH SOLE 125000
Alleghany Corporation COM 017175100 4657 24576 SH SOLE 24576
Anadarko Pete Corp. COM 032511107 4454 100000 SH SOLE 100000
Anglogold Limited Sponsored AD COM 035128206 38518 1445312 SH SOLE 1445312
Apache Corporation COM 037411105 27347 460000 SH SOLE 460000
Archer-Daniels-Midland COM 039483102 6255 500000 SH SOLE 500000
BJ's Wholesale Club Inc. COM 05548J106 950 50000 SH SOLE 50000
Barrick Gold Corp COM 067901108 10772 692750 SH SOLE 692750
Berkshire Hathaway Inc. Cl B COM 084670207 49300 20000 SH SOLE 20000
Boeing Company COM 097023105 15358 450000 SH SOLE 450000
Bowne & Company COM 103043105 9650 965000 SH SOLE 965000
Bristol-Myers Squibb COM 110122108 26180 1100000 SH SOLE 1100000
Brookstone Inc. COM 114537103 1107 90000 SH SOLE 90000
Burlington Northern Santa Fe COM 12189t104 5980 250000 SH SOLE 250000
Carpenter Technology COM 144285103 6175 475000 SH SOLE 475000
Cleveland-Cliffs Inc. COM 185896107 7215 300000 SH SOLE 300000
Coca-Cola Company COM 191216100 5995 125000 SH SOLE 125000
Coeur D Alene Mines Corp. COM 192108108 411 260181 SH SOLE 260181
ConAgra Inc. COM 205887102 17395 700000 SH SOLE 700000
ConocoPhillips COM 20825C104 39279 849470 SH SOLE 849470
Corn Products International In COM 219023108 7187 250000 SH SOLE 250000
Corning Incorporated COM 219350105 2400 1500000 SH SOLE 1500000
Cott Corporation COM 22163n106 4545 300000 SH SOLE 300000
Cummins Engine COM 231021106 5078 215000 SH SOLE 215000
Dow Jones & Company, Inc. COM 260561105 7682 200000 SH SOLE 200000
Du Pont (E. I.) de Nemours COM 263534109 13526 375000 SH SOLE 375000
Eastman Kodak Corp. COM 277461109 5448 200000 SH SOLE 200000
Esg Re Limited COM g31215109 201 255000 SH SOLE 255000
Exxon Mobil Corporation COM 30231G102 5582 175000 SH SOLE 175000
Fairfax Financial Holdings, Lt COM 303901102 5227 70000 SH SOLE 70000
Flowers Foods Inc. COM 343498101 2273 100000 SH SOLE 100000
GEHL Company COM 368483103 773 75300 SH SOLE 75300
Gannett Company COM 364730101 36090 500000 SH SOLE 500000
Gatx Corp COM 361448103 2475 125000 SH SOLE 125000
General Motors Corp. Cl H COM 370442832 3660 400000 SH SOLE 400000
Germany Fund COM 374143105 1462 325000 SH SOLE 325000
Gold Field Limited New, ADR COM 38059t106 7360 575000 SH SOLE 575000
Grainger, W.W. Inc. COM 384802104 12765 300000 SH SOLE 300000
Grupo TMM-SP ADR A COM 40051D105 47771 7818515 SH SOLE 7818515
Halliburton COM 406216101 1614 125000 SH SOLE 125000
Hecla Mining Co. COM 422704106 2276 637600 SH SOLE 637600
Helmerich & Payne Inc. COM 423452101 13692 400000 SH SOLE 400000
Hubbell Inc. Cl B COM 443510201 18169 625000 SH SOLE 625000
IMC Global, Inc. COM 449669100 15665 1300000 SH SOLE 1300000
Intermet COM 45881K104 192 40000 SH SOLE 40000
Interpublic Group of COS Inc COM 460690100 4755 300000 SH SOLE 300000
Kellogg Company COM 487836108 6650 200000 SH SOLE 200000
Kerr McGee Corp. COM 492386107 22589 520000 SH SOLE 520000
Kinross Gold Corp. COM 496902107 398 181618 SH SOLE 181618
LSI Logic Corp COM 502161102 4127 650000 SH SOLE 650000
La-Z-Boy Inc. COM 505336107 5220 225000 SH SOLE 225000
Lancaster Colony Corp COM 513847103 3580 85000 SH SOLE 85000
Leucadia National Corp COM 527288104 6800 200000 SH SOLE 200000
Loew's Corporation COM 540424108 26806 625000 SH SOLE 625000
Longview Fibre Company COM 543213102 2602 375000 SH SOLE 375000
Louisiana-Pacific Corporation COM 546347105 7764 1200000 SH SOLE 1200000
Marathon Oil Corp COM 565849106 21546 950000 SH SOLE 950000
Markel Corporation COM 570535104 11951 60000 SH SOLE 60000
Mattel Inc. COM 577081102 5403 300000 SH SOLE 300000
McDonald's Corporation COM 580135101 7947 450000 SH SOLE 450000
Merck & Co. COM 589331107 35425 775000 SH SOLE 775000
Meridian Gold Inc. COM 589975101 4117 225000 SH SOLE 225000
Mesabi Trust COM 590672101 664 200000 SH SOLE 200000
Newmont Mining Corp. COM 651639106 42444 1542869 SH SOLE 1542869
Old Republic International COM 680223104 9223 325000 SH SOLE 325000
Park Place Entertainment COM 700690100 9957 1252500 SH SOLE 1252500
Phelps Dodge COM 717265102 5126 200000 SH SOLE 200000
Phillip Morris Cos. COM 718154107 38800 1000000 SH SOLE 1000000
Placer Dome, Inc. COM 725906101 14151 1550000 SH SOLE 1550000
Pope & Talbot COM 732827100 4883 380000 SH SOLE 380000
Potlatch Corp COM 737628107 1463 51000 SH SOLE 51000
Procter & Gamble COM 742718109 2681 30000 SH SOLE 30000
RPM Inc. (Ohio) COM 749685103 2812 200000 SH SOLE 200000
Railamerica Inc. COM 750753105 15973 2203162 SH SOLE 2203162
Royal Gold Inc. COM 780287108 9535 500000 SH SOLE 500000
Ruddick Corporation COM 781258108 3494 230000 SH SOLE 230000
San Juan Basin Rty Trust Unit COM 798241105 1170 100000 SH SOLE 100000
Saul Centers Inc. COM 804395101 4644 200000 SH SOLE 200000
Schering-Plough Corp COM 806605101 23985 1125000 SH SOLE 1125000
Schlumberger Ltd. COM 806857108 2500 65000 SH SOLE 65000
Schweitzer-Mauduit Intl. Inc. COM 808541106 2669 125000 SH SOLE 125000
Sherwin-Williams Co. COM 824348106 14208 600000 SH SOLE 600000
Smithfield Foods, Inc. COM 832248108 2355 150000 SH SOLE 150000
Tenneco Automotive Inc. COM 880349105 3767 894700 SH SOLE 894700
The Walt Disney Company COM 254687106 10976 725000 SH SOLE 725000
Thomas & Betts Corp. COM 884315102 5284 375000 SH SOLE 375000
Timken Company COM 887389104 9631 575000 SH SOLE 575000
Transocean Sedco Forex Inc. COM G90078109 7280 350000 SH SOLE 350000
Triarc Companies Inc. COM 895927101 18152 800000 SH SOLE 800000
Tyco International LTD COM 902124106 7050 500000 SH SOLE 500000
Tyson Foods Inc-Cl A COM 902494103 13956 1200000 SH SOLE 1200000
UST Inc. COM 902911106 5642 200000 SH SOLE 200000
Union Pacific Corp COM 907818108 7523 130000 SH SOLE 130000
United States Steel Corp COM 912909108 2945 253700 SH SOLE 253700
Volvo AB ADR COM 928856400 1437 100000 SH SOLE 100000
Washington Post - Cl B COM 939640108 14278 22000 SH SOLE 22000
Weyerhaeuser Co. COM 962166104 4377 100000 SH SOLE 100000
White Mountains Insurance Grou COM G9618E107 6479 22000 SH SOLE 22000