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 199,655 10,676,761 SH   SOLE 1 10,200,108 0 476,653
BANK AMER CORP *W EXP 01/16/201 060505146 65,333 16,795,103 SH   SOLE 1,2 15,430,703 0 1,364,400
BANK AMER CORP *W EXP 10/28/201 060505153 291 1,455,701 SH   SOLE 2 1,455,701 0 0
BANK AMER CORP COM 060505104 115,884 8,571,303 SH   SOLE 1 5,563,000 0 3,008,303
LANDS END INC NEW COM 51509F105 74,421 2,917,327 SH   SOLE 1 2,606,127 0 311,200
LEUCADIA NATL CORP COM 527288104 1,067 66,000 SH   SOLE   0 0 66,000
NOW INC COM 67011P100 120,168 6,781,500 SH   SOLE 1 6,262,400 0 519,100
SEARS CDA INC COM 81234D109 53,002 18,929,417 SH   SOLE 1,2 16,828,571 0 2,100,846
SEARS HLDGS CORP COM 812350106 407,228 26,598,848 SH   SOLE 1,2 21,412,673 0 5,186,175
SEARS HLDGS CORP *W EXP 12/15/201 812350155 29,683 6,746,177 SH   SOLE 1,2 6,034,848 0 711,329
SEARS HOMETOWN & OUTLET STOR COM 812362101 4,984 776,300 SH   SOLE 1 640,300 0 136,000
SERITAGE GROWTH PPTYS CL A 81752R100 172,289 3,447,850 SH   SOLE 1 3,433,750 0 14,100
ST JOE CO COM 790148100 411,312 23,983,197 SH   SOLE 1 23,211,102 0 772,095