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Filing Details

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
830122	Pico Holdings Inc W	PICO	Real Estate (6500)	942723335

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1427289	Gregory Bylinsky	C/O Bandera Partners Llc 50 Broad Street, Suite 1820 New York NY 10004		Yes	No	No	No

Reported Non-Derivative Transactions

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2019-08-13	875	$9.54	1,000,307	No	4	P	Indirect	See footnote
Common Stock	Acquisiton	2019-08-13	1,730	$9.55	1,002,037	No	4	P	Indirect	See footnote
Common Stock	Acquisiton	2019-08-14	47,395	$9.48	1,049,432	No	4	P	Indirect	See footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See footnote
No	4	P	Indirect	See footnote
No	4	P	Indirect	See footnote

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	15,011	Direct

Footnotes

Consists of securities directly held by Bandera Master Fund L.P. ("Bandera Master Fund"). Bandera Master Fund has delegated to Bandera Partners LLC ("Bandera Partners"), its investment manager, the sole and exclusive authority to vote and dispose of the securities held by Bandera Master Fund. Mr. Bylinsky, solely by virtue of his position as a Managing Partner, Managing Director and Portfolio Manager of Bandera Partners, may be deemed to beneficially own the securities held by Bandera Master Fund. Mr. Bylinsky expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.