PICO Holdings, Inc. (PICO), incorporated on January 15, 1981, is a diversified holding company. As of December 31, 2012, the Company operated in four segments: Water Resource and Water Storage Operations, Real Estate Operations, Agribusiness Operations and Corporate. As of December 31, 2012, its subsidiaries include Vidler Water Company, Inc. (Vidler), which acquires and develops water resources and water storage operations in the southwestern United States, with assets and operations in Nevada, Arizona, Idaho, Colorado and New Mexico; UCP, LLC (UCP), which acquires and develops partially developed and finished residential housing lots in selected markets in California and Washington, and PICO Northstar Hallock, LLC doing business as Northstar Agri Industries (Northstar). During the year ended December 31, 2012, the Company closed the sale of its insurance segment.