The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
|
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
|
||||||||||||||||
| COLUMN 1 | COLUMN 2 | COLUMN 3 | COLUMN 4 | COLUMN 5 | COLUMN 6 | COLUMN 7 | COLUMN 8 | ||||
| VALUE | SHRS OR | SH/ | PUT/ | INVESTMENT | OTHER | VOTING AUTHORITY | |||||
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | (x$1000) | PRN AMT | PRN | CALL | DISCRETION | MANAGER | SOLE | SHARED | NONE |
| Apple, Inc. | COM | 037833100 | 111,373,550 | 207,500 | SH | SOLE | None | 207,500 | 0 | 0 | |
| Berkshire Hathaway Inc. Class A | CLA | 084670108 | 38,781,450 | 207 | SH | SOLE | None | 207 | 0 | 0 | |
| Biglari Holdings Inc. | COM | 08986R101 | 9,237,936 | 18,950 | SH | SOLE | None | 18,950 | 0 | 0 | |
| Boardwalk Pipeline Partners, LP | UT LTD PART | 096627104 | 4,559,400 | 340,000 | SH | SOLE | None | 340,000 | 0 | 0 | |
| Brandywine Realty Trust | SH BEN | 105368203 | 45,852,660 | 3,171,000 | SH | SOLE | None | 3,171,000 | 0 | 0 | |
| Cabela's Inc. | COM | 126804301 | 59,286,550 | 905,000 | SH | SOLE | None | 905,000 | 0 | 0 | |
| Caterpillar, Inc. | COM | 149123101 | 31,798,400 | 320,000 | SH | SOLE | None | 320,000 | 0 | 0 | |
| Devon Energy Corporation | COM | 25179M103 | 17,067,150 | 255,000 | SH | SOLE | None | 255,000 | 0 | 0 | |
| East West Bancorp, Inc. | COM | 27579R104 | 24,637,500 | 675,000 | SH | SOLE | None | 675,000 | 0 | 0 | |
| FedEx Corporation | COM | 31428X106 | 40,099,400 | 302,500 | SH | SOLE | None | 302,500 | 0 | 0 | |
| Goldman Sachs Group, Inc. | COM | 38141G104 | 40,552,875 | 247,500 | SH | SOLE | None | 247,500 | 0 | 0 | |
| Google, Inc. | CLA | 38259P508 | 37,336,085 | 33,500 | SH | SOLE | None | 33,500 | 0 | 0 | |
| Halliburton Co. | COM | 406216101 | 23,114,325 | 392,500 | SH | SOLE | None | 392,500 | 0 | 0 | |
| JM Smucker Co. | COM | 832696405 | 8,994,700 | 92,500 | SH | SOLE | None | 92,500 | 0 | 0 | |
| JP Morgan Chase & Co | COM | 46625H100 | 40,614,990 | 669,000 | SH | SOLE | None | 128,000 | 0 | 0 | |
| JP Morgan Chase & Co. | W EXP | 46634E114 | 2,585,600 | 128,000 | SH | SOLE | None | 669,000 | 0 | 0 | |
| K12, Inc. | COM | 48273U102 | 3,057,750 | 135,000 | SH | SOLE | None | 135,000 | 0 | 0 | |
| KKR & Co. LP | COM | 48248M102 | 38,976,460 | 1,706,500 | SH | SOLE | None | 1,706,500 | 0 | 0 | |
| Kansas City Southern | COM | 485170302 | 17,452,260 | 171,000 | SH | SOLE | None | 171,000 | 0 | 0 | |
| Kelly Services, Inc. | CLB | 488152307 | 260,044 | 10,940 | SH | SOLE | None | 10,940 | 0 | 0 | |
| Kelly Services, Inc. | CLA | 488152208 | 20,170,500 | 850,000 | SH | SOLE | None | 850,000 | 0 | 0 | |
| Kinder Morgan Inc. Warrant | W EXP | 49456B119 | 230,912 | 131,200 | SH | SOLE | None | 131,200 | 0 | 0 | |
| Kinder Morgan, Inc. | COM | 49456B101 | 5,523,300 | 170,000 | SH | SOLE | None | 170,000 | 0 | 0 | |
| Mastercard Inc. | CLA | 57636Q104 | 38,470,500 | 515,000 | SH | SOLE | None | 515,000 | 0 | 0 | |
| Polaris Industries, Inc. | COM | 731068102 | 41,074,740 | 294,000 | SH | SOLE | None | 294,000 | 0 | 0 | |
| Scripps Networks Interactive, Inc | COM | 811065101 | 39,093,650 | 515,000 | SH | SOLE | None | 515,000 | 0 | 0 | |
| Telefonica SA | ADR | 879382208 | 40,264,500 | 2,550,000 | SH | SOLE | None | 2,550,000 | 0 | 0 | |
| The Fresh Market, Inc. | COM | 35804H106 | 3,208,800 | 95,500 | SH | SOLE | None | 95,500 | 0 | 0 | |
| The PNC Financial Services Group, Inc. | COM | 693475105 | 13,485,000 | 155,000 | SH | SOLE | None | 155,000 | 0 | 0 | |