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 92,612 4,368,490 SH   SOLE 1 3,969,737 0 398,753
BANK AMER CORP *W EXP 01/16/201 060505146 60,170 13,023,864 SH   SOLE 1,2 11,708,964 0 1,314,900
BANK AMER CORP *W EXP 10/28/201 060505153 146 1,455,701 SH   SOLE 2 1,455,701 0 0
BANK AMER CORP COM 060505104 26,812 1,713,203 SH   SOLE   303,600 0 1,409,603
LANDS END INC NEW COM 51509F105 48,613 3,352,627 SH   SOLE 1 2,820,427 0 532,200
LEUCADIA NATL CORP COM 527288104 1,257 66,000 SH   SOLE   0 0 66,000
SEARS CDA INC COM 81234D109 49,747 20,222,179 SH   SOLE 1,2 17,525,771 0 2,696,408
SEARS HLDGS CORP COM 812350106 319,040 27,839,448 SH   SOLE 1,2 21,671,473 0 6,167,975
SEARS HLDGS CORP *W EXP 12/15/201 812350155 23,017 6,730,093 SH   SOLE 1,2 6,034,848 0 695,245
SEARS HOMETOWN & OUTLET STOR COM 812362101 3,830 776,850 SH   SOLE 1 640,300 0 136,550
SERITAGE GROWTH PPTYS CL A 81752R100 174,022 3,433,750 SH   SOLE 1 3,433,750 0 0
ST JOE CO COM 790148100 449,305 24,445,297 SH   SOLE 1 23,299,802 0 1,145,495