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

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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 156,014 4,051,268 SH   SOLE   3,462,304 0 588,964
Abbott Laboratories COM 002824100 373,396 9,696,076 SH   DFND 1 9,696,076 0 0
Aon PLC COM G0408V102 783,168 9,292,457 SH   SOLE   7,273,432 0 2,019,025
Aon PLC COM G0408V102 65,304 774,841 SH   DFND 1 774,841 0 0
Bank of New York Mellon Corpor COM 064058100 883,323 25,030,410 SH   SOLE   20,100,128 0 4,930,282
Bank of New York Mellon Corpor COM 064058100 407,144 11,537,094 SH   DFND 1 11,537,094 0 0
Berkshire Hathaway Inc. Class COM 084670108 1,311 7 SH   SOLE   7 0 0
Berkshire Hathaway Inc. Class COM 084670702 199,099 1,593,176 SH   SOLE   1,294,160 0 299,016
Berkshire Hathaway Inc. Class COM 084670702 342,458 2,740,320 SH   DFND 1 2,740,320 0 0
Chesapeake Energy Corporation COM 165167107 1,266,607 49,438,213 SH   SOLE   40,143,921 0 9,294,292
Chesapeake Energy Corporation COM 165167107 484,746 18,920,627 SH   DFND 1 18,920,627 0 0
CNH Industrial NV COM N20944109 111,114 9,662,058 SH   SOLE   9,662,058 0 0
CNH Industrial NV COM N20944109 1,378 119,861 SH   DFND 1 119,861 0 0
CONSOL Energy Inc. COM 20854P109 453,850 11,360,441 SH   SOLE   9,273,402 0 2,087,039
CONSOL Energy Inc. COM 20854P109 467,095 11,692,000 SH   DFND 1 11,692,000 0 0
DineEquity Inc COM 254423106 4,165 53,346 SH   SOLE   33,246 0 20,100
DineEquity Inc COM 254423106 98,497 1,261,654 SH   DFND 1 1,261,654 0 0
Empire State Realty Trust Inc. COM 292104106 2,189 144,903 SH   SOLE   0 0 144,903
Empire State Realty Trust Inc. COM 292104106 185,413 12,270,850 SH   DFND 1 12,270,850 0 0
Everest Re Group Ltd. COM G3223R108 460,438 3,008,416 SH   SOLE   2,209,788 0 798,628
Everest Re Group Ltd. COM G3223R108 224,418 1,466,304 SH   DFND 1 1,466,304 0 0
FedEx Corporation COM 31428X106 1,183,686 8,929,433 SH   SOLE   7,271,876 0 1,657,557
FedEx Corporation COM 31428X106 551,107 4,157,419 SH   DFND 1 4,157,419 0 0
Graham Holdings Company COM 384637104 76,716 109,010 SH   SOLE   104,110 0 4,900
Graham Holdings Company COM 384637104 301,205 428,000 SH   DFND 1 428,000 0 0
Level 3 Communications Inc. COM 52729N308 969,815 24,778,115 SH   SOLE   21,042,205 0 3,735,910
Level 3 Communications Inc. COM 52729N308 941,751 24,061,092 SH   DFND 1 24,061,092 0 0
Loews Corporation COM 540424108 1,005,237 22,820,369 SH   SOLE   18,960,933 0 3,859,436
Loews Corporation COM 540424108 616,635 13,998,515 SH   DFND 1 13,998,515 0 0
Mondelez International Inc COM 609207105 770,227 22,293,103 SH   SOLE   17,677,390 0 4,615,713
Mondelez International Inc COM 609207105 407,404 11,791,718 SH   DFND 1 11,791,718 0 0
Murphy Oil Corporation COM 626717102 614,261 9,771,895 SH   SOLE   7,939,820 0 1,832,075
Murphy Oil Corporation COM 626717102 329,106 5,235,537 SH   DFND 1 5,235,537 0 0
News Corporation - Class A COM 65249B109 288,249 16,739,198 SH   SOLE   13,190,405 0 3,548,793
News Corporation - Class A COM 65249B109 9,183 533,300 SH   DFND 1 533,300 0 0
News Corporation - Class B COM 65249B208 396,684 23,753,527 SH   SOLE   20,432,627 0 3,320,900
News Corporation - Class B COM 65249B208 80,556 4,823,700 SH   DFND 1 4,823,700 0 0
Rayonier Inc. COM 754907103 273 5,943 SH   SOLE   0 0 5,943
Rayonier Inc. COM 754907103 19,052 414,995 SH   DFND 1 414,995 0 0
Royal Philips ADR COM 500472303 441,214 12,548,747 SH   SOLE   10,455,155 0 2,093,592
Royal Philips ADR COM 500472303 92,942 2,643,400 SH   DFND 1 2,643,400 0 0
Scripps Networks Interactive COM 811065101 49,724 655,044 SH   SOLE   589,649 0 65,395
Scripps Networks Interactive COM 811065101 155,813 2,052,600 SH   DFND 1 2,052,600 0 0
Texas Industries Inc. COM 882491103 49,237 549,400 SH   SOLE   485,900 0 63,500
Texas Industries Inc. COM 882491103 673,114 7,510,757 SH   DFND 1 7,510,757 0 0
The Travelers Companies Inc. COM 89417E109 556,873 6,543,750 SH   SOLE   5,812,984 0 730,766
The Travelers Companies Inc. COM 89417E109 271,544 3,190,885 SH   DFND 1 3,190,885 0 0
tw telecom inc. COM 87311L104 170,455 5,452,803 SH   SOLE   4,787,003 0 665,800
tw telecom inc. COM 87311L104 168,241 5,382,000 SH   DFND 1 5,382,000 0 0
Vail Resorts Inc. COM 91879Q109 5,566 79,858 SH   SOLE   51,158 0 28,700
Vail Resorts Inc. COM 91879Q109 172,647 2,477,000 SH   DFND 1 2,477,000 0 0
Vodafone Group Plc ADR COM 92857W308 39,377 1,069,738 SH   DFND 1 1,069,738 0 0
Vornado Realty Trust COM 929042109 22,738 230,700 SH   SOLE   225,100 0 5,600