The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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
ALLEGHANY CORP DEL COM 017175100 6,837 14,750 SH   SOLE   14,750 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 2,628 17,500 SH   SOLE   17,500 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 1,201 8,000 SH Call SOLE   0 0 0
BLUCORA INC NOTE 4.250% 4/0 095229AB6 237 2,500,000 SH   SOLE   2,500,000 0 0
BLUCORA INC COM 095229100 970 70,000 SH   SOLE   70,000 0 0
CAPITAL SOUTHWEST CORP COM 140501107 2,777 73,250 SH   SOLE   73,250 0 0
CHARTER FINL CORP MD COM 16122W108 1,288 112,500 SH   SOLE   112,500 0 0
CLIFTON BANCORP INC COM 186873105 1,767 130,000 SH   SOLE   130,000 0 0
CRYOLIFE INC COM 228903100 889 78,500 SH   SOLE   78,500 0 0
E M C CORP MASS COM 268648102 1,784 60,000 SH   SOLE   60,000 0 0
E M C CORP MASS COM 268648102 2,677 90,000 SH Call SOLE   0 0 0
EBAY INC COM 278642103 2,806 50,000 SH   SOLE   50,000 0 0
ELLIS PERRY INTL INC COM 288853104 3,436 132,500 SH   SOLE   132,500 0 0
FIFTH STR ASSET MGMT INC CL A COM 31679P109 227 16,300 SH   SOLE   16,300 0 0
FIFTH STREET FINANCE CORP COM 31678A103 2,163 270,000 SH   SOLE   270,000 0 0
HARVARD BIOSCIENCE INC COM 416906105 284 50,000 SH   SOLE   50,000 0 0
ICONIX BRAND GROUP INC COM 451055107 3,379 100,000 SH   SOLE   100,000 0 0
INTERNATIONAL SPEEDWAY CORP CL A 460335201 4,115 130,000 SH   SOLE   130,000 0 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 2,704 130,000 SH   SOLE   130,000 0 0
KULICKE & SOFFA INDS INC COM 501242101 5,495 380,000 SH   SOLE   380,000 0 0
LEUCADIA NATL CORP COM 527288104 1,009 45,000 SH Call SOLE   0 0 0
PNC FINL SVCS GROUP INC *W EXP 12/31/201 693475121 2,183 87,500 SH   SOLE   87,500 0 0
SPEEDWAY MOTORSPORTS INC COM 847788106 2,296 105,000 SH   SOLE   105,000 0 0
TETRA TECH INC NEW COM 88162G103 3,767 141,100 SH   SOLE   141,100 0 0
TRINITY BIOTECH PLC SPON ADR NEW 896438306 2,364 135,000 SH   SOLE   135,000 0 0
VECTOR GROUP LTD COM 92240M108 1,897 89,000 SH   SOLE   89,000 0 0
VIAD CORP COM NEW 92552R406 866 32,500 SH   SOLE   32,500 0 0