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
AMERICAN INTL GROUP INC *W EXP 01/19/202 026874156 99,439 5,320,453 SH   SOLE 1 4,909,853 0 410,600
BANK AMER CORP *W EXP 01/16/201 060505146 54,966 15,794,903 SH   SOLE 1,2 14,480,003 0 1,314,900
BANK AMER CORP *W EXP 10/28/201 060505153 121 1,455,701 SH   SOLE 2 1,455,701 0 0
BANK AMER CORP COM 060505104 172,152 12,973,003 SH   SOLE 1 10,168,200 0 2,804,803
LANDS END INC NEW COM 51509F105 49,251 2,999,427 SH   SOLE 1 2,628,127 0 371,300
LEUCADIA NATL CORP COM 527288104 1,144 66,000 SH   SOLE   0 0 66,000
SEARS CDA INC COM 81234D109 59,375 19,924,663 SH   SOLE 1,2 17,525,771 0 2,398,892
SEARS HLDGS CORP COM 812350106 379,223 27,863,548 SH   SOLE 1,2 21,671,473 0 6,192,075
SEARS HLDGS CORP *W EXP 12/15/201 812350155 26,122 6,732,415 SH   SOLE 1,2 6,034,848 0 697,567
SEARS HOMETOWN & OUTLET STOR COM 812362101 5,236 776,850 SH   SOLE 1 640,300 0 136,550
SERITAGE GROWTH PPTYS CL A 81752R100 171,138 3,433,750 SH   SOLE 1 3,433,750 0 0
ST JOE CO COM 790148100 433,261 24,450,397 SH   SOLE 1 23,299,802 0 1,150,595