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
AGILENT TECHNOLOGIES INC COMMON 00846U101 1,708 10,700 SH   SOLE   10,700 0 0
BERKSHIRE HATHAWAY INC DEL COMMON 084670702 748 2,501 SH   SOLE   2,501 0 0
CITIGROUP INC COMMON 172967424 273,394 4,527,140 SH   SOLE   1,051,080 3,476,060 0
D R HORTON INC COMMON 23331A109 79,959 737,285 SH   SOLE   13,500 723,785 0
General Motors Co (GM) COMMON 35045V100 770,805 13,146,934 SH   SOLE   2,995,107 10,151,827 0
GOLDMAN SACHS GROUP INC COMMON 38141G104 774,727 2,025,165 SH   SOLE   425,187 1,599,978 0
INTERNATIONAL PAPER CO COMMON 460146103 79,288 1,687,700 SH   SOLE   401,900 1,285,800 0
JPMORGAN CHASE & CO COMMON 46625H100 792 5,000 SH   SOLE   5,000 0 0
LEAR CORP COMMON 521865204 27,591 150,810 SH   SOLE   0 150,810 0
LENNAR CORP COMMON 526057104 835,806 7,195,302 SH   SOLE   1,528,116 5,667,186 0
LENNAR CORP COMMON 526057302 43,129 451,048 SH   SOLE   290,136 160,912 0
M D C HLDGS INC COMMON 552676108 1,396 25,000 SH   SOLE   25,000 0 0
3M CO COMMON 88579Y101 444 2,500 SH   SOLE   2,500 0 0
MORGAN STANLEY COMMON 617446448 982 10,000 SH   SOLE   10,000 0 0
PERKINELMER INC COMMON 714046109 201 1,000 SH   SOLE   1,000 0 0
PROSHARES TR COMMON 74347B714 10,884 1,005,000 SH   SOLE   605,000 400,000 0
SCHWAB CHARLES CORP COMMON 808513105 1,892 22,500 SH   SOLE   22,500 0 0
PROSHARES TR COMMON 74347B425 9,466 695,000 SH   SOLE   550,000 145,000 0
TOLL BROTHERS INC COMMON 889478103 375,907 5,192,796 SH   SOLE   1,981,027 3,211,769 0
UNION PAC CORP COMMON 907818108 512 2,032 SH   SOLE   2,032 0 0
WHIRLPOOL CORP COMMON 963320106 665,150 2,834,525 SH   SOLE   891,945 1,942,580 0