13F-HR 1 form13fhr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 12/31/2009 Check here if Amendment []; Amendment Number: ------- This Amendment (Check only one.): [] is a restatement. [] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Elkhorn Partners Limited Partnership Address: 2222 Skyline Drive Elkhorn, NE 68022 Form 13F File Number: 28-12336 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Persons Signing this Report on Behalf of Reporting Manager: Name: Alan S. Parsow Title: Sole Manager of Parsow Management LLC, the General Partner of Reporting Manager Phone: (402) 289-3217 Signature, Place, and Date of Signing: /s/ Alan S. Parsow Elkhorn, Nebraska 3/16/2010 --------------------------------- --------------------------------- ---------- [Signature] [City, State] [Date] Report Type (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 57 Form 13F Information Table Value Total: $ 106,164 -------------- (In Thousands) List of Other Included Managers: Provide a numbered list of the name(s) and 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. NONE (1) The Reporting Manager's holdings in Kennedy Wilson, Inc. common stock were not reportable on Form 13F for the quarter ended September 30, 2009; however, the Reporting Manager received common stock of Kennedy-Wilson Holdings, Inc. in connection with the merger dated November 13, 2009 by and among Prospect Acquisition Corp (now known as Kennedy-Wilson Holdings, Inc.), Kennedy Wilson, Inc. and KW Merger Sub Corp. The Reporting Manager's holdings in Kennedy-Wilson Holdings, Inc. common stock are reportable on Form 13F for the year ended December 31, 2009.
FORM 13F INFORMATION TABLE 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 MANAGERS SOLE SHARED NONE ---------------------------- -------------- --------- -------- --------- --- ---- ---------- -------- --------- ------ ---- American Express Co COM 25816109 232 5,700 SH SOLE 5,700 0 0 Berkshire Hathaway Inc. Del CL A 84670108 6,160 50 SH SOLE 50 0 0 Berkshire Hathaway Inc. Del CL B 84670207 8,208 99,800 SH SOLE 99,800 0 0 BMP Sunstone Corporation COM 05569C105 458 81,000 SH SOLE 81,000 0 0 Breeze-Eastern Corp. COM 106764103 434 68,100 SH SOLE 68,100 0 0 Bristol Myers Squibb Co. COM 110122108 401 15,500 SH SOLE 15,500 0 0 Cadiz Inc. COM 127537207 2,313 176,400 SH SOLE 176,400 0 0 CAE Inc. COM 124765108 241 26,000 SH SOLE 26,000 0 0 CBS Corp. New CL B 124857202 451 30,900 SH SOLE 30,900 0 0 CME Group Inc. COM 12572Q105 566 1,800 SH SOLE 1,800 0 0 Columbia Laboratories Inc. COM 197779101 36 32,500 SH SOLE 32,500 0 0 Comarco Inc. COM 200080109 1,963 615,461 SH SOLE 615,461 0 0 Comcast Corp. New CL A SPL 20030N200 1,690 101,500 SH SOLE 101,500 0 0 Dow Chem Co. COM 260543103 254 8,500 SH SOLE 8,500 0 0 Enerplus Resources Fund UNIT 29274D604 883 37,500 SH SOLE 37,500 0 0 Fairfax Financial Hldgs Ltd COM 303901102 7,464 20,256 SH SOLE 20,256 0 0 Gencorp Inc COM 368682100 70 15,000 SH SOLE 15,000 0 0 General Electric Co COM 369604103 617 36,200 SH SOLE 36,200 0 0 Google Inc CL A 38259P508 275 475 SH SOLE 475 0 0 Healthcare Rlty TR REIT 421946104 666 28,900 SH SOLE 28,900 0 0 Hollywood Media Corp COM 436233100 426 351,882 SH SOLE 351,882 0 0 Imergent Inc COM 45247Q100 496 72,034 SH SOLE 72,034 0 0 Innodata Isogen Inc COM 457642205 86 19,500 SH SOLE 19,500 0 0 International Business Mach COM 459200101 345 2,700 SH SOLE 2,700 0 0 Kennedy-Wilson Hldgs(1) COM 489398107 36,230 3,655,948 SH SOLE 3,655,948 0 0 KKR Finl Hldgs LLC reit 48248A306 113 14,500 SH SOLE 14,500 0 0 K Sea Transn Partners LP ltdp 48268Y101 1,023 111,900 SH SOLE 111,900 0 0 Level 3 Communications Inc COM 52729N100 83 52,500 SH SOLE 52,500 0 0 Lowe's Cos Inc COM 548661107 334 13,400 SH SOLE 13,400 0 0 Martha Stewart Living CL A 573083102 238 42,500 SH SOLE 42,500 0 0 MDC Partners Inc COM 552697104 858 77,614 SH SOLE 77,614 0 0 Microsoft Corp. COM 594918104 474 16,200 SH SOLE 16,200 0 0 Mortons Restaurant Grp Inc COM 619430101 117 22,000 SH SOLE 22,000 0 0 New Frontier Media Inc COM 644398109 69 31,500 SH SOLE 31,500 0 0 NGas Resources Inc COM 62912T103 402 270,000 SH SOLE 270,000 0 0 NYSE Euronext COM 629491101 1,233 42,800 SH SOLE 42,800 0 0 Orbit Intl Corp COM New 685559304 2,193 593,500 SH SOLE 593,500 0 0 Osteotech Inc COM 688582105 169 40,800 SH SOLE 40,800 0 0 Penn West Energy Trust UNIT 707885109 1,287 59,800 SH SOLE 59,800 0 0 Perma-Fix Environmental Svcs COM 714157104 57 25,000 SH SOLE 25,000 0 0 Playboy Enterprises Inc CL A 728117201 418 102,000 SH SOLE 102,000 0 0 Playboy Enterprises Inc CL B 728117300 320 93,500 SH SOLE 93,500 0 0 Polymet Mining Corp. COM 731916102 178 68,500 SH SOLE 68,500 0 0 Proshares Short Dow 30 ETF 74347R701 294 5,800 SH SOLE 5,800 0 0 Proshares Short S&P 500 ETF 74347R883 908 18,000 SH SOLE 18,000 0 0 Reading International Inc CL A 755408101 183 41,403 SH SOLE 41,403 0 0 Rewards Network Inc COM 761557107 8,366 618,771 SH SOLE 618,771 0 0 SLM Corp COM 78442P106 181 14,800 SH SOLE 14,800 0 0 SMF Energy Corp COM 78453M208 32 24,445 SH SOLE 24,445 0 0 Student Loan Corp COM 863902102 1,554 41,200 SH SOLE 41,200 0 0 Taylor Devices Inc COM 877163105 295 49,701 SH SOLE 49,701 0 0 Time Warner Inc COM 887317105 360 11,800 SH SOLE 11,800 0 0 USG Corp COM 903293405 388 25,500 SH SOLE 25,500 0 0 Viacom Inc - Class B CL B 92553P201 1,969 62,800 SH SOLE 62,800 0 0 Wal Mart Stores Inc COM 931142103 383 7,100 SH SOLE 7,100 0 0 White Mtns Ins Group Ltd COM G9618E107 10,555 29,900 SH SOLE 29,900 0 0 Yahoo Inc COM 984332106 165 10,100 SH SOLE 10,100 0 0