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 300 2,215 SH   DFND 1 2,215 0 0
AMERICAN NATL INS CO COM 028591105 192 1,700 SH   DFND 1 1,700 0 0
BAIDU INC SPON ADR REP A 056752108 6,095 40,000 SH   DFND 2 40,000 0 0
BAIDU INC SPON ADR REP A 056752108 11,429 75,000 SH   SOLE   75,000 0 0
BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 317 56,975 SH   DFND 1 56,975 0 0
BAXTER INTL INC COM 071813109 255 3,465 SH   DFND 1 3,465 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 7,494 40 SH   DFND 2 40 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 86,368 461 SH   SOLE   461 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 1,499 8 SH   DFND 2 8 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 375 2 SH   DFND 1 2 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 3,799 30,400 SH   SOLE   30,400 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 172 1,380 SH   DFND 1 1,380 0 0
BIGLARI HLDGS INC COM 08986R101 1,500 3,076 SH   DFND 2 3,076 0 0
BANK NEW YORK MELLON CORP COM 064058100 552 15,630 SH   DFND 1 15,630 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 2,868 70,200 SH   DFND 2 70,200 0 0
BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTN G16249107 32 1,727 SH   DFND 1 1,727 0 0
CISCO SYS INC COM 17275R102 384 17,150 SH   DFND 1 17,150 0 0
CONOCOPHILLIPS COM 20825C104 195 2,775 SH   DFND 1 2,775 0 0
DANAHER CORP DEL COM 235851102 825 11,000 SH   DFND 2 11,000 0 0
DEVON ENERGY CORP NEW COM 25179M103 486 7,260 SH   DFND 1 7,260 0 0
DOLBY LABORATORIES INC COM 25659T107 20,915 470,000 SH   SOLE   470,000 0 0
EMERSON ELEC CO COM 291011104 250 3,745 SH   DFND 1 3,745 0 0
GENERAL ELECTRIC CO COM 369604103 1,722 66,500 SH   DFND 2 66,500 0 0
GOOGLE INC CL A 38259P508 8,916 8,000 SH   DFND 2 8,000 0 0
GOOGLE INC CL A 38259P508 38,451 34,500 SH   SOLE   34,500 0 0
GOOGLE INC CL A 38259P508 201 180 SH   DFND 1 180 0 0
HALLIBURTON CO COM 406216101 504 8,565 SH   DFND 1 8,565 0 0
JOHNSON & JOHNSON COM 478160104 208 2,120 SH   DFND 1 2,120 0 0
JOY GLOBAL INC COM 481165108 215 3,700 SH   DFND 1 3,700 0 0
KINDER MORGAN INC DEL *W EXP 05/25/201 49456B119 443 250,000 SH   DFND 2 250,000 0 0
MRC Global INC COM 55345K103 1,348 50,000 SH   SOLE   50,000 0 0
MARKEL CORP COM 570535104 1,386 2,325 SH   DFND 2 2,325 0 0
MORNINGSTAR INC COM 617700109 158 2,000 SH   SOLE   2,000 0 0
NATIONAL OILWELL VARCO INC COM 637071101 818 10,500 SH   DFND 2 10,500 0 0
NATIONAL WESTN LIFE INS CO CL A 638522102 258 1,055 SH   DFND 1 1,055 0 0
PHILIP MORRIS INTL INC COM 718172109 214 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 810 42,100 SH   DFND 2 42,100 0 0
UNIFIRST CORP MASS COM 904708104 187 1,700 SH   DFND 1 1,700 0 0
UNION PAC CORP COM 907818108 223 1,190 SH   DFND 1 1,190 0 0
WELLS FARGO & CO NEW COM 949746101 523 10,515 SH   DFND 1 10,515 0 0
WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 1,588 85,200 SH   DFND 2 85,200 0 0