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 925 16,441 SH   SOLE 0 16,441 0 0
APOLLO GLOBAL MANAGEMENT - A CL A SHS 37612306 1,978 83,897 SH   SOLE 0 83,897 0 0
ASBURY AUTOMOTIVE GROUP COM 043436104 418 5,500 SH   SOLE 0 0 0 5,500
ATLAS FINANCIAL HOLDINGS, INC SHS NEW G06207115 166 10,150 SH   SOLE 0 0 0 10,150
BERKSHIRE HATHAWAY CLASS B CL B NEW 84670702 24,158 160,893 SH   SOLE 0 159,293 0 1,600
BLACKBERRY LTD COM 09228F103 165 15,000 SH   SOLE 0 0 0 15,000
BRISTOL-MYERS SQUIBB CO COM 110122108 436 7,388 SH   SOLE 0 0 0 7,388
CARTERS INC COM 146229109 262 3,000 SH   SOLE 0 0 0 3,000
CELANESE CORP-SERIES A COM SER A 150870103 3,563 59,429 SH   SOLE 0 59,395 0 34
CHESAPEAKE ENERGY CORP COM 165167107 13,196 674,313 SH   SOLE 0 674,313 0 0
FISERV INC COM 337738108 426 6,000 SH   SOLE 0 0 0 6,000
FORTRESS INVESTMENT GRP-CL A CL A 34958B106 2,367 295,096 SH   SOLE 0 295,096 0 0
GOOGLE INC CLASS A CL A 38259P508 7,090 13,360 SH   SOLE 0 13,010 0 350
GOOGLE INC CLASS C CL C 38259P706 6,866 13,044 SH   SOLE 0 12,694 0 350
GRACE W R & CO COM 38388F108 472 4,950 SH   SOLE 0 0 0 4,950
HARBINGER GROUP INC COM 41146A106 5,682 401,304 SH   SOLE 0 401,304 0 0
ING US INC COM 45685E106 13,277 313,290 SH   SOLE 0 313,290 0 0
INSTALLED BUILDING PRODUCTS COM 45780R101 1,857 104,211 SH   SOLE 0 104,211 0 0
KIRBY CORPORATION COM 497266106 283 3,500 SH   SOLE 0 0 0 3,500
KKR & CO LP COM UNITS 48248M102 3,212 138,378 SH   SOLE 0 138,378 0 0
LEVEL 3 COMMUNICATIONS INC COM 52729N308 36,997 749,233 SH   SOLE 0 741,188 0 8,045
LHC GROUP COM 50187A107 468 15,000 SH   SOLE 0 0 0 15,000
LIBERTY INTERACTIVE CORP-A INT COM SER A 53071M104 4,569 155,318 SH   SOLE 0 142,745 0 12,573
LIVE NATION ENTERTAINMENT INC COM 538034109 444 17,000 SH   SOLE 0 0 0 17,000
MDC PARTNERS INC-A COM 552697104 508 22,344 SH   SOLE 0 22,344 0 0
MELCO CROWN ENTERTAINMENT LTD DEPOSITRY RCPT 585464100 10,663 419,801 SH   SOLE 0 419,801 0 0
MONSANTO CO NEW DEL COM 61166W101 308 2,574 SH   SOLE 0 0 0 2,574
MOTOROLA SOLUTIONS INC COM NEW 620076307 369 5,500 SH   SOLE 0 0 0 5,500
OWENS CORNING COM 690742101 208 5,800 SH   SOLE 0 0 0 5,800
PARAGON OFFSHORE PLC SHS G6S01W108 215 77,726 SH   SOLE 0 77,726 0 0
PGT INC COM 69336V101 96 10,000 SH   SOLE 0 0 0 10,000
POPE RESOURCES DEPOSITRY RCPT 732857107 1,272 19,991 SH   SOLE 0 19,991 0 0
REVLON INC-CLASS A CL A NEW 761525609 1,990 58,268 SH   SOLE 0 58,203 0 65
RICE ENERGY INC COM 762760106 582 27,764 SH   SOLE 0 27,764 0 0
ROCK TENN COMPANY -CL A CL A 772739207 8,912 146,149 SH   SOLE 0 146,149 0 0
SFX ENTERTAINMENT INC COM 784178303 284 62,649 SH   SOLE 0 62,649 0 0
SIGNET JEWELERS LTD SHS G81276100 592 4,500 SH   SOLE 0 0 0 4,500
TE CONNECTIVITY LTD REG SHS H84989104 538 8,500 SH   SOLE 0 0 0 8,500
TRANSOCEAN LTD REG SHS H8817H100 199 10,843 SH   SOLE 0 10,843 0 0
TWENTY FIRST CENTURY FOX INC CL A 90130A101 3,473 90,426 SH   SOLE 0 77,426 0 13,000
UNITED CONTINENTAL HOLDINGS, INC. COM 910047109 268 4,000 SH   SOLE 0 0 0 4,000
VALERO ENERGY CORP COM 91913Y100 6,742 136,200 SH   SOLE 0 129,800 0 6,400
WABCO HOLDINGS INC COM 92927K102 461 4,400 SH   SOLE 0 0 0 4,400
XO GROUP INC COM 983772104 1,639 90,020 SH   SOLE 0 90,020 0 0