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
3M CO COM 88579Y101 242 2,215 SH   DFND 1 2,215 0 0
AMERICAN NATL INS CO COM 028591105 169 1,700 SH   DFND 1 1,700 0 0
BAIDU INC SPON ADR REP A 056752108 3,781 40,000 SH   DFND 2 40,000 0 0
BAIDU INC SPON ADR REP A 056752108 7,090 75,000 SH   SOLE   75,000 0 0
BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 239 38,345 SH   DFND 1 38,345 0 0
BAXTER INTL INC COM 071813109 240 3,465 SH   DFND 1 3,465 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 5,901 35 SH   DFND 2 35 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 77,725 461 SH   SOLE   461 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 1,349 8 SH   DFND 2 8 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 337 2 SH   DFND 1 2 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 3,402 30,400 SH   SOLE   30,400 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 154 1,380 SH   DFND 1 1,380 0 0
BIGLARI HLDGS INC COM 08986R101 1,031 2,513 SH   DFND 2 2,513 0 0
BANK NEW YORK MELLON CORP COM 064058100 438 15,630 SH   DFND 1 15,630 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 1,659 43,900 SH   DFND 2 43,900 0 0
BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTN G16249107 37 1,727 SH   DFND 1 1,727 0 0
CISCO SYS INC COM 17275R102 417 17,150 SH   DFND 1 17,150 0 0
CONOCOPHILLIPS COM 20825C104 168 2,775 SH   DFND 1 2,775 0 0
DANAHER CORP DEL COM 235851102 696 11,000 SH   DFND 2 11,000 0 0
DEVON ENERGY CORP NEW COM 25179M103 377 7,260 SH   DFND 1 7,260 0 0
DOLBY LABORATORIES INC COM 25659T107 12,377 370,000 SH   SOLE   370,000 0 0
EMERSON ELEC CO COM 291011104 204 3,745 SH   DFND 1 3,745 0 0
GENERAL ELECTRIC CO COM 369604103 1,542 66,500 SH   DFND 2 66,500 0 0
GOOGLE INC CL A 38259P508 5,282 6,000 SH   DFND 2 6,000 0 0
GOOGLE INC CL A 38259P508 26,411 30,000 SH   SOLE   30,000 0 0
GOOGLE INC CL A 38259P508 198 225 SH   DFND 1 225 0 0
HALLIBURTON CO COM 406216101 357 8,565 SH   DFND 1 8,565 0 0
JOHNSON & JOHNSON COM 478160104 182 2,120 SH   DFND 1 2,120 0 0
JOY GLOBAL INC COM 481165108 180 3,700 SH   DFND 1 3,700 0 0
MARKEL CORP COM 570535104 1,225 2,325 SH   DFND 2 2,325 0 0
MORNINGSTAR INC COM 617700109 155 2,000 SH   SOLE   2,000 0 0
NATIONAL OILWELL VARCO INC COM 637071101 723 10,500 SH   DFND 2 10,500 0 0
NATIONAL WESTN LIFE INS CO CL A 638522102 200 1,055 SH   DFND 1 1,055 0 0
PHILIP MORRIS INTL INC COM 718172109 226 2,610 SH   DFND 1 2,610 0 0
PHILLIPS 66 COM 718546104 82 1,387 SH   DFND 1 1,387 0 0
ST JOE CO COM 790148100 886 42,100 SH   DFND 2 42,100 0 0
UNIFIRST CORP MASS COM 904708104 163 1,790 SH   DFND 1 1,790 0 0
UNION PAC CORP COM 907818108 272 1,760 SH   DFND 1 1,760 0 0
WELLS FARGO & CO NEW COM 949746101 434 10,515 SH   DFND 1 10,515 0 0
WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 1,165 85,200 SH   DFND 2 85,200 0 0