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 COM NEW 026874784 8,190 183,214 SH   SOLE   183,214 0 0
AVIS BUDGET GROUP COM 053774105 5,399 187,791 SH   SOLE   187,791 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 3,541 21 SH   SOLE   21 0 0
CENTRAL FD CDA LTD CL A 153501101 685 50,383 SH   SOLE   50,383 0 0
CHESAPEAKE ENERGY CORP COM 165167107 6,045 296,602 SH   SOLE   296,602 0 0
CHESAPEAKE ENERGY CORP CALL 165167107 185 322 SH Call SOLE   322 0 0
CHESAPEAKE ENERGY CORP CALL 165167107 367 552 SH Call SOLE   552 0 0
CITIGROUP INC COM NEW 172967424 9,887 206,108 SH   SOLE   206,108 0 0
DELTA AIR LINES, INC DEL COM NEW 247361702 3,085 164,893 SH   SOLE   164,893 0 0
FREIGHTCAR AMER INC COM 357023100 623 36,641 SH   SOLE   36,641 0 0
GREEN DOT CORP CL A 39304D102 1,307 65,498 SH   SOLE   65,498 0 0
HALLIBURTON CO COM 406216101 14,144 339,022 SH   SOLE   339,022 0 0
HILLENBRAND INC COM 431571108 11,437 482,370 SH   SOLE   482,370 0 0
ISHARES GOLD TRUST ISHARES 464285105 2,998 250,000 SH   SOLE   250,000 0 0
ISHARES SILVER TRUST ISHARES 46428Q109 1,469 77,433 SH   SOLE   77,433 0 0
JAKKS PAC INC COM 47012E106 24 2,107 SH   SOLE   2,107 0 0
LEUCADIA NATL CORP COM 527288104 2,762 105,345 SH   SOLE   105,345 0 0
LOCKHEED MARTIN CORP COM 539830109 14,903 137,407 SH   SOLE   137,407 0 0
MFC INDL LTD COM 55278T105 2,698 334,349 SH   SOLE   334,349 0 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 2,413 98,531 SH   SOLE   98,531 0 0
MCDERMOTT INTL INC COM 580037109 1,198 146,515 SH   SOLE   146,515 0 0
MORGAN STANLEY COM NEW 617446448 5,707 233,590 SH   SOLE   233,590 0 0
ONEOK PARTNERS LP UNIT LTD PARTN 68268N103 394 7,956 SH   SOLE   7,956 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 834 7,000 SH   SOLE   7,000 0 0
SOUTHWEST AIRLS CO COM 844741108 7,983 619,354 SH   SOLE   619,354 0 0
SPROTT PHYSICAL GOLD TRUST ETF UNIT 85207H104 4,745 463,352 SH   SOLE   463,352 0 0
SPROTT PHYSICAL SILVER TRUST ETF TR UNIT 85207K107 162 21,049 SH   SOLE   21,049 0 0
TRAVELERS COMPANIES INC COM 89417E109 4,916 61,506 SH   SOLE   61,506 0 0
US BANCORP DEL COM NEW 902973304 7,140 197,519 SH   SOLE   197,519 0 0
WELLPOINT INC COM 94973V107 7,687 93,926 SH   SOLE   93,926 0 0
WESTERN DIGITAL CORP COM 958102105 903 14,541 SH   SOLE   14,541 0 0