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
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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
Abbott Laboratories COM 002824100 163,265 3,991,801 SH   SOLE   3,402,837 0 588,964
Abbott Laboratories COM 002824100 396,570 9,696,076 SH   DFND 1 9,696,076 0 0
Aon PLC COM G0408V102 756,304 8,394,987 SH   SOLE   6,394,262 0 2,000,725
Aon PLC COM G0408V102 69,805 774,841 SH   DFND 1 774,841 0 0
Bank of New York Mellon Corpor COM 064058100 862,379 23,009,045 SH   SOLE   18,118,563 0 4,890,482
Bank of New York Mellon Corpor COM 064058100 432,410 11,537,094 SH   DFND 1 11,537,094 0 0
Berkshire Hathaway Inc. Class COM 084670108 1,329 7 SH   SOLE   7 0 0
Berkshire Hathaway Inc. Class COM 084670702 197,663 1,561,809 SH   SOLE   1,268,593 0 293,216
Berkshire Hathaway Inc. Class COM 084670702 346,815 2,740,320 SH   DFND 1 2,740,320 0 0
Chesapeake Energy Corporation COM 165167107 1,410,531 45,383,889 SH   SOLE   36,133,467 0 9,250,422
Chesapeake Energy Corporation COM 165167107 588,053 18,920,627 SH   DFND 1 18,920,627 0 0
CONSOL Energy Inc. COM 20854P109 507,808 11,022,540 SH   SOLE   8,935,501 0 2,087,039
CONSOL Energy Inc. COM 20854P109 538,650 11,692,000 SH   DFND 1 11,692,000 0 0
DineEquity Inc COM 254423106 644 8,100 SH   SOLE   8,100 0 0
DineEquity Inc COM 254423106 16,288 204,900 SH   DFND 1 204,900 0 0
Empire State Realty Trust Inc. COM 292104106 2,391 144,903 SH   SOLE   0 0 144,903
Empire State Realty Trust Inc. COM 292104106 202,469 12,270,850 SH   DFND 1 12,270,850 0 0
Everest Re Group Ltd. COM G3223R108 437,225 2,724,316 SH   SOLE   1,938,988 0 785,328
Everest Re Group Ltd. COM G3223R108 235,327 1,466,304 SH   DFND 1 1,466,304 0 0
FedEx Corporation COM 31428X106 1,249,614 8,254,816 SH   SOLE   6,609,059 0 1,645,757
FedEx Corporation COM 31428X106 629,350 4,157,419 SH   DFND 1 4,157,419 0 0
Graham Holdings Company COM 384637104 124,500 173,372 SH   SOLE   168,472 0 4,900
Graham Holdings Company COM 384637104 307,351 428,000 SH   DFND 1 428,000 0 0
Level 3 Communications Inc. COM 52729N308 1,011,879 23,044,395 SH   SOLE   19,333,618 0 3,710,777
Level 3 Communications Inc. COM 52729N308 1,056,523 24,061,092 SH   DFND 1 24,061,092 0 0
Loews Corporation COM 540424108 935,779 21,262,879 SH   SOLE   17,432,743 0 3,830,136
Loews Corporation COM 540424108 617,778 14,037,215 SH   DFND 1 14,037,215 0 0
Mondelez International Inc COM 609207105 765,557 20,355,140 SH   SOLE   15,769,127 0 4,586,013
Mondelez International Inc COM 609207105 425,340 11,309,218 SH   DFND 1 11,309,218 0 0
Murphy Oil Corporation COM 626717102 614,769 9,247,421 SH   SOLE   7,415,346 0 1,832,075
Murphy Oil Corporation COM 626717102 348,058 5,235,537 SH   DFND 1 5,235,537 0 0
News Corporation - Class A COM 65249B109 281,250 15,677,230 SH   SOLE   12,128,437 0 3,548,793
News Corporation - Class A COM 65249B109 9,567 533,300 SH   DFND 1 533,300 0 0
News Corporation - Class B COM 65249B208 367,192 21,042,527 SH   SOLE   17,721,627 0 3,320,900
News Corporation - Class B COM 65249B208 86,222 4,941,100 SH   DFND 1 4,941,100 0 0
Rayonier Inc. COM 754907103 644 18,104 SH   SOLE   0 0 18,104
Rayonier Inc. COM 754907103 47,061 1,323,796 SH   DFND 1 1,323,796 0 0
Royal Philips ADR COM 500472303 415,470 13,081,559 SH   SOLE   10,793,618 0 2,287,941
Royal Philips ADR COM 500472303 86,847 2,734,493 SH   DFND 1 2,734,493 0 0
Scripps Networks Interactive COM 811065101 59,285 730,649 SH   SOLE   613,049 0 117,600
Scripps Networks Interactive COM 811065101 166,548 2,052,600 SH   DFND 1 2,052,600 0 0
Texas Industries Inc. COM 882491103 28,666 310,371 SH   SOLE   277,871 0 32,500
Texas Industries Inc. COM 882491103 253,944 2,749,499 SH   DFND 1 2,749,499 0 0
The Travelers Companies Inc. COM 89417E109 571,556 6,075,856 SH   SOLE   5,355,890 0 719,966
The Travelers Companies Inc. COM 89417E109 300,167 3,190,885 SH   DFND 1 3,190,885 0 0
tw telecom inc. COM 87311L104 395,818 9,819,344 SH   SOLE   7,193,644 0 2,625,700
tw telecom inc. COM 87311L104 216,948 5,382,000 SH   DFND 1 5,382,000 0 0
Vail Resorts Inc. COM 91879Q109 6,163 79,858 SH   SOLE   51,158 0 28,700
Vail Resorts Inc. COM 91879Q109 191,175 2,477,000 SH   DFND 1 2,477,000 0 0
ViaSat Inc. COM 92552V100 1,414 24,400 SH   SOLE   0 0 24,400
ViaSat Inc. COM 92552V100 38,278 660,428 SH   DFND 1 660,428 0 0
Vodafone Group Plc ADR COM 92857W308 35,719 1,069,738 SH   DFND 1 1,069,738 0 0