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 311 2,215 SH   DFND 1 2,215 0 0
AMERICAN NATL INS CO COM 028591105 195 1,700 SH   DFND 1 1,700 0 0
BAIDU INC SPON ADR REP A 056752108 7,115 40,000 SH   DFND 2 40,000 0 0
BAIDU INC SPON ADR REP A 056752108 13,341 75,000 SH   SOLE   75,000 0 0
BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 304 49,800 SH   DFND 1 49,800 0 0
BAXTER INTL INC COM 071813109 241 3,465 SH   DFND 1 3,465 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 7,116 40 SH   DFND 2 40 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 82,012 461 SH   SOLE   461 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 1,423 8 SH   DFND 2 8 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 356 2 SH   DFND 1 2 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 3,604 30,400 SH   SOLE   30,400 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 164 1,380 SH   DFND 1 1,380 0 0
BIGLARI HLDGS INC COM 08986R101 1,558 3,076 SH   DFND 2 3,076 0 0
BANK NEW YORK MELLON CORP COM 064058100 546 15,630 SH   DFND 1 15,630 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 2,240 57,700 SH   DFND 2 57,700 0 0
BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTN G16249107 34 1,727 SH   DFND 1 1,727 0 0
CISCO SYS INC COM 17275R102 385 17,150 SH   DFND 1 17,150 0 0
CONOCOPHILLIPS COM 20825C104 196 2,775 SH   DFND 1 2,775 0 0
DANAHER CORP DEL COM 235851102 849 11,000 SH   DFND 2 11,000 0 0
DEVON ENERGY CORP NEW COM 25179M103 449 7,260 SH   DFND 1 7,260 0 0
DOLBY LABORATORIES INC COM 25659T107 18,123 470,000 SH   SOLE   470,000 0 0
EMERSON ELEC CO COM 291011104 263 3,745 SH   DFND 1 3,745 0 0
GENERAL ELECTRIC CO COM 369604103 1,864 66,500 SH   DFND 2 66,500 0 0
GOOGLE INC CL A 38259P508 8,966 8,000 SH   DFND 2 8,000 0 0
GOOGLE INC CL A 38259P508 38,664 34,500 SH   SOLE   34,500 0 0
GOOGLE INC CL A 38259P508 202 180 SH   DFND 1 180 0 0
HALLIBURTON CO COM 406216101 435 8,565 SH   DFND 1 8,565 0 0
JOHNSON & JOHNSON COM 478160104 194 2,120 SH   DFND 1 2,120 0 0
JOY GLOBAL INC COM 481165108 216 3,700 SH   DFND 1 3,700 0 0
KINDER MORGAN INC DEL *W EXP 05/25/201 49456B119 1,015 250,000 SH   DFND 2 250,000 0 0
MARKEL CORP COM 570535104 1,349 2,325 SH   DFND 2 2,325 0 0
MORNINGSTAR INC COM 617700109 156 2,000 SH   SOLE   2,000 0 0
NATIONAL OILWELL VARCO INC COM 637071101 835 10,500 SH   DFND 2 10,500 0 0
NATIONAL WESTN LIFE INS CO CL A 638522102 236 1,055 SH   DFND 1 1,055 0 0
PHILIP MORRIS INTL INC COM 718172109 227 2,610 SH   DFND 1 2,610 0 0
PHILLIPS 66 COM 718546104 107 1,387 SH   DFND 1 1,387 0 0
ST JOE CO COM 790148100 808 42,100 SH   DFND 2 42,100 0 0
UNIFIRST CORP MASS COM 904708104 192 1,790 SH   DFND 1 1,790 0 0
UNION PAC CORP COM 907818108 200 1,190 SH   DFND 1 1,190 0 0
WELLS FARGO & CO NEW COM 949746101 477 10,515 SH   DFND 1 10,515 0 0
WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 1,355 85,200 SH   DFND 2 85,200 0 0