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
AMTRUST FINANCIAL SERVICES COM 32359309 1,108 27,831 SH   OTR 0 27,831 0 0
APOLLO GLOBAL MANAGEMENT - A CL A SHS 37612306 1,756 73,647 SH   OTR 0 73,647 0 0
ASBURY AUTOMOTIVE GROUP COM 043436104 354 5,500 SH   OTR 0 0 0 5,500
ATLAS FINANCIAL HOLDINGS, INC SHS NEW G06207115 138 10,000 SH   OTR 0 0 0 10,000
BERKSHIRE HATHAWAY CLASS B CL B NEW 84670702 23,091 167,153 SH   OTR 0 165,553 0 1,600
BLACKBERRY LTD COM 09228F103 149 15,000 SH   OTR 0 0 0 15,000
BRISTOL-MYERS SQUIBB CO COM 110122108 377 7,373 SH   OTR 0 0 0 7,373
CARTERS INC COM 146229109 233 3,000 SH   OTR 0 0 0 3,000
CELANESE CORP-SERIES A COM SER A 150870103 3,133 53,540 SH   OTR 0 53,540 0 0
CHESAPEAKE ENERGY CORP COM 165167107 14,740 641,145 SH   OTR 0 641,145 0 0
FISERV INC COM 337738108 388 6,000 SH   OTR 0 0 0 6,000
FORTRESS INVESTMENT GRP-CL A CL A 34958B106 1,842 267,711 SH   OTR 0 267,711 0 0
GOOGLE INC CLASS A CL A 38259P508 7,861 13,360 SH   OTR 0 13,010 0 350
GOOGLE INC CLASS C CL C 38259P706 7,714 13,360 SH   OTR 0 13,010 0 350
GRACE W R & CO COM 38388F108 450 4,950 SH   OTR 0 0 0 4,950
GULFPORT ENERGY CORP COM NEW 402635304 368 6,892 SH   OTR 0 6,892 0 0
HARBINGER GROUP INC COM 41146A106 4,687 357,209 SH   OTR 0 357,209 0 0
ING US INC COM 45685E106 12,250 313,290 SH   OTR 0 313,290 0 0
INSTALLED BUILDING PRODUCTS COM 45780R101 719 51,144 SH   OTR 0 51,144 0 0
JASON INDUSTRIES INC COM 471172106 166 16,000 SH   OTR 0 16,000 0 0
KIRBY CORPORATION COM 497266106 412 3,500 SH   OTR 0 0 0 3,500
KKR & CO LP COM UNITS 48248M102 3,086 138,378 SH   OTR 0 138,378 0 0
LEVEL 3 COMMUNICATIONS INC COM 52729N308 31,172 681,661 SH   OTR 0 681,661 0 0
LHC GROUP COM 50187A107 348 15,000 SH   OTR 0 0 0 15,000
LIBERTY INTERACTIVE CORP INT COM SER A 53071M104 4,164 145,995 SH   OTR 0 133,495 0 12,500
LIVE NATION ENTERTAINMENT INC COM 538034109 408 17,000 SH   OTR 0 0 0 17,000
MDC PARTNERS INC-A COM 552697104 374 19,506 SH   OTR 0 19,506 0 0
MELCO CROWN ENTERTAINMENT LTD DEPOSITRY RCPT 585464100 6,036 229,600 SH   OTR 0 229,600 0 0
MONSANTO CO NEW DEL COM 61166W101 289 2,570 SH   OTR 0 0 0 2,570
MOTOROLA SOLUTIONS INC COM NEW 620076307 348 5,500 SH   OTR 0 0 0 5,500
PGT INC COM 69336V101 93 10,000 SH   OTR 0 0 0 10,000
PLATFORM SPECIALTY PRODUCTS COM 72766Q105 1,119 44,726 SH   OTR 0 44,726 0 0
POPE RESOURCES DEPOSITRY RCPT 732857107 1,339 19,991 SH   OTR 0 19,991 0 0
REVLON INC-CLASS A CL A NEW 761525609 1,844 58,203 SH   OTR 0 58,203 0 0
RICE ENERGY INC COM 762760106 453 17,043 SH   OTR 0 17,043 0 0
ROCK TENN COMPANY -CL A CL A 772739207 7,298 153,380 SH   OTR 0 153,380 0 0
SIGNET JEWELERS LTD SHS G81276100 513 4,500 SH   OTR 0 0 0 4,500
SPECTRUM BRANDS HOLDINGS INC COM 84763R101 2,225 24,580 SH   OTR 0 24,580 0 0
TE CONNECTIVITY LTD REG SHS H84989104 470 8,500 SH   OTR 0 0 0 8,500
TWENTY FIRST CENTURY FOX INC CL A 90130A101 3,101 90,426 SH   OTR 0 77,426 0 13,000
URS CORP NEW COM 903236107 230 4,000 SH   OTR 0 0 0 4,000
VALERO ENERGY CORP COM 91913Y100 8,269 178,720 SH   OTR 0 172,320 0 6,400
WABCO HOLDINGS INC COM 92927K102 400 4,400 SH   OTR 0 0 0 4,400
WILLIAMS COS INC COM 969457100 3,085 55,740 SH   OTR 0 55,740 0 0
XO GROUP INC COM 983772104 1,009 90,020 SH   OTR 0 90,020 0 0