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
AUTONATION INC COM 05329W102 4,534 104,500 SH   SOLE   0 0 104,500
BERKSHIRE HATHAWAY INC DEL CL B 084670702 5,300 47,355 SH   SOLE   0 0 47,355
BROOKFIELD ASSET MGMT INC CL A 112585104 2,917 66,594 SH   SOLE   0 0 66,594
BROOKFIELD RESIDENTIAL PPTYS COM 11283W104 2,969 134,575 SH   SOLE   0 0 134,575
BURGER KING WORLDWIDE INC COM 121220107 1,546 63,950 SH   SOLE   0 0 63,950
CBOE HLDGS INC COM 12503M108 2,162 46,350 SH   SOLE   0 0 46,350
CONTINENTAL RESOURCES INC COM 212015101 2,873 33,385 SH   SOLE   0 0 33,385
DISH NETWORK CORP CL A 25470M109 1,855 43,625 SH   SOLE   0 0 43,625
DREAMWORKS ANIMATION SKG INC CL A 26153C103 4,745 184,900 SH   SOLE   0 0 184,900
HOWARD HUGHES CORP COM 44267D107 10,902 97,259 SH   SOLE   0 0 97,259
IAC INTERACTIVECORP COM 44919P508 1,381 29,025 SH   SOLE   0 0 29,025
ICAHN ENTERPRISES LP DPU 451100101 7,757 106,598 SH   SOLE   0 0 106,598
JARDEN CORP COM 471109108 1,873 42,812 SH   SOLE   0 0 42,812
LAS VEGAS SANDS CORP COM 517834107 1,827 34,510 SH   SOLE   0 0 34,510
LENNAR CORP CL A 526057104 1,027 28,500 SH   SOLE   0 0 28,500
LEUCADIA NATL CORP COM 527288104 3,481 132,778 SH   SOLE   0 0 132,778
LIBERTY INTERACTIVE CORP COM A 53071M104 3,714 161,425 SH   SOLE   0 0 161,425
LIBERTY INTERACTIVE/VENTURES COM A 53071M880 6,023 70,855 SH   SOLE   0 0 70,855
LIBERTY MEDIA CORP DELAWARE CL A 531229102 10,794 85,150 SH   SOLE   0 0 85,150
LIVE NATION ENTERTAINMENT IN COM 538034109 2,064 133,175 SH   SOLE   0 0 133,175
MCEWEN MNG INC COM 58039P107 347 206,477 SH   SOLE   0 0 206,477
NOVO-NORDISK A S ADR 670100205 1,636 10,560 SH   SOLE   0 0 10,560
NUVEEN MUN MKT OPPORTUNITY F COM 67062W103 134 10,300 SH   SOLE   0 0 10,300
OAKTREE CAP GROUP LLC UNIT 674001201 1,365 25,975 SH   SOLE   0 0 25,975
PENNEY J C INC COM 708160106 1,223 71,625 SH   SOLE   0 0 71,625
ROUSE PPTYS INC COM 779287101 7,297 371,913 SH   SOLE   0 0 371,913
SEARS HLDGS CORP COM 812350106 3,822 90,820 SH   SOLE   0 0 90,820
SEARS HOMETOWN & OUTLET STOR COM 812362101 2,546 58,242 SH   SOLE   0 0 58,242
STARZ COM 85571Q102 1,854 83,881 SH   SOLE   0 0 83,881
TEXAS PAC LD TR CTF 882610108 2,932 34,724 SH   SOLE   0 0 34,724
WENDYS CO COM 95058W100 5,095 873,850 SH   SOLE   0 0 873,850
WINTHROP RLTY TR SH 976391300 2,316 192,525 SH   SOLE   0 0 192,525
WYNN RESORTS LTD COM 983134107 1,108 8,660 SH   SOLE   0 0 8,660
GREENLIGHT CAPITAL RE LTD CL A G4095J109 2,544 103,700 SH   SOLE   0 0 103,700