Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY INC DEL	3,340,476	$379M	13.1%	—	—	CL B NEW	084670702
BRK/A	BERKSHIRE HATHAWAY INC DEL	1,909	$325M	11.3%	—	—	CL A	084670108
WFC	WELLS FARGO & CO NEW	4,273,249	$177M	6.1%	—	—	COM	949746101
CSCO	CISCO SYS INC	5,500,000	$129M	4.5%	—	—	COM	17275R102
KMX	CARMAX INC	2,412,500	$117M	4.0%	—	—	COM	143130102
—	GREEN MTN COFFEE ROASTERS IN	1,453,000	$109M	3.8%	—	—	COM	393122106
LYB	LYONDELLBASELL INDUSTRIES N	1,450,200	$106M	3.7%	—	—	SHS - A -	N53745100
—	CHEMTURA CORP	3,995,800	$91.86M	3.2%	—	—	COM NEW	163893209
—	WALGREEN CO	1,645,100	$88.51M	3.1%	—	—	COM	931422109
—	HORNBECK OFFSHORE SVCS INC N	1,266,026	$72.72M	2.5%	—	—	COM	440543106
TJX	TJX COS INC NEW	1,205,000	$67.95M	2.4%	—	—	COM	872540109
DAL	DELTA AIR LINES INC DEL	2,523,900	$59.54M	2.1%	—	—	COM NEW	247361702
GLD	SPDR GOLD TRUST	455,268	$58.36M	2.0%	—	—	GOLD SHS	78463V107
MU	MICRON TECHNOLOGY INC	3,034,900	$53.02M	1.8%	—	—	COM	595112103
CSCO	CISCO SYS INC	2,150,000	$50.38M	1.7%	—	—	Call	17275R102
SLB	SCHLUMBERGER LTD	557,000	$49.22M	1.7%	—	—	COM	806857108
AXP	AMERICAN EXPRESS CO	632,600	$47.77M	1.7%	—	—	COM	025816109
CNQ	CANADIAN NAT RES LTD	1,466,000	$46.09M	1.6%	—	—	COM	136385101
—	SENSATA TECHNOLOGIES HLDG BV	1,185,400	$45.37M	1.6%	—	—	SHS	N7902X106
—	LAMAR ADVERTISING CO	946,600	$44.52M	1.5%	—	—	CL A	512815101
PM	PHILIP MORRIS INTL INC	500,800	$43.36M	1.5%	—	—	COM	718172109
—	ANADARKO PETE CORP	445,800	$41.45M	1.4%	—	—	COM	032511107
—	EXPRESS SCRIPTS HLDG CO	650,000	$40.17M	1.4%	—	—	Put	30219G108
—	VODAFONE GROUP PLC NEW	1,095,400	$38.54M	1.3%	—	—	SPONS ADR NEW	92857W209
BRK/B	BERKSHIRE HATHAWAY INC DEL	315,000	$35.76M	1.2%	—	—	Call	084670702
COP	CONOCOPHILLIPS	500,000	$34.76M	1.2%	—	—	COM	20825C104
NEM	NEWMONT MINING CORP	1,120,550	$31.49M	1.1%	—	—	COM	651639106
WMT	WAL-MART STORES INC	410,000	$30.32M	1.0%	—	—	COM	931142103
IWM	ISHARES	265,000	$28.25M	1.0%	—	—	RUSSELL 2000 ETF	464287655
—	KAPSTONE PAPER & PACKAGING C	655,000	$28.03M	1.0%	—	—	COM	48562P103
MS	MORGAN STANLEY	1,021,500	$27.53M	1.0%	—	—	COM NEW	617446448
LUV	SOUTHWEST AIRLS CO	1,875,900	$27.31M	0.9%	—	—	COM	844741108
XOM	EXXON MOBIL CORP	310,550	$26.72M	0.9%	—	—	COM	30231G102
—	MEAD JOHNSON NUTRITION CO	339,000	$25.17M	0.9%	—	—	COM	582839106
GS	GOLDMAN SACHS GROUP INC	154,700	$24.48M	0.8%	—	—	COM	38141G104
BIGGQ	BIG LOTS INC	650,000	$24.11M	0.8%	—	—	Put	089302103
PSX	PHILLIPS 66	413,637	$23.92M	0.8%	—	—	COM	718546104
—	VANTIV INC	850,000	$23.75M	0.8%	—	—	CL A	92210H105
—	PETROLOGISTICS LP	1,934,765	$23.14M	0.8%	—	—	UNIT LTD PTH INT	71672U101
ANF	ABERCROMBIE & FITCH CO	550,000	$19.45M	0.7%	—	—	Call	002896207
M	MACYS INC	410,300	$17.75M	0.6%	—	—	COM	55616P104
COST	COSTCO WHSL CORP NEW	140,800	$16.22M	0.6%	—	—	COM	22160K105
WMT	WAL-MART STORES INC	200,000	$14.79M	0.5%	—	—	Put	931142103
—	ASA GOLD AND PRECIOUS MTLS L	1,093,000	$14.48M	0.5%	—	—	SHS	G3156P103
AEM	AGNICO EAGLE MINES LTD	435,785	$11.54M	0.4%	—	—	COM	008474108
SU	SUNCOR ENERGY INC NEW	300,000	$10.73M	0.4%	—	—	COM	867224107
ANF	ABERCROMBIE & FITCH CO	300,000	$10.61M	0.4%	—	—	Put	002896207
F	FORD MTR CO DEL	602,500	$10.16M	0.4%	—	—	COM PAR $0.01	345370860
—	GOLDCORP INC NEW	389,400	$10.13M	0.4%	—	—	COM	380956409
—	BARRICK GOLD CORP	501,200	$9.332M	0.3%	—	—	COM	067901108
LQDT	LIQUIDITY SERVICES INC	250,040	$8.376M	0.3%	—	—	COM	53635B107
ETD	ETHAN ALLEN INTERIORS INC	286,800	$7.993M	0.3%	—	—	COM	297602104
—	WESTPORT INNOVATIONS INC	300,000	$7.257M	0.3%	—	—	Call	960908309
HCA	HCA HOLDINGS INC	100,000	$4.275M	0.1%	—	—	COM	40412C101
—	SMITH & WESSON HLDG CORP	383,300	$4.212M	0.1%	—	—	COM	831756101
FSLR	FIRST SOLAR INC	100,000	$4.021M	0.1%	—	—	Put	336433107
—	EXPRESS SCRIPTS HLDG CO	50,000	$3.09M	0.1%	—	—	Call	30219G108
—	WESTPORT INNOVATIONS INC	100,000	$2.419M	0.1%	—	—	Put	960908309
—	ATHENAHEALTH INC	20,000	$2.172M	0.1%	—	—	Put	04685W103
DECK	DECKERS OUTDOOR CORP	31,900	$2.103M	0.1%	—	—	COM	243537107
—	THE ADT CORPORATION	30,000	$1.22M	0.0%	—	—	Put	00101J106
—	WEST MARINE INC	100,500	$1.218M	0.0%	—	—	COM	954235107