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
AGCO CORP COM 001084102 1,649 36,284 SH   SOLE   36,284 0 0
AIR LEASE CORP CL A 00912X302 1,096 33,726 SH   SOLE   33,726 0 0
AMERICAN DOCUMENT SOLUTIONS INC COM 00191G103 156 19,339 SH   SOLE   19,339 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 880 16,302 SH   SOLE   16,302 0 0
AUTONATION INC COM 05329W102 5,481 108,950 SH   SOLE   108,950 0 0
BANK AMER CORP COM 060505104 7,467 437,959 SH   SOLE   437,959 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 948 6,868 SH   SOLE   6,868 0 0
BLACK DIAMOND INC COM 09202G101 385 51,053 SH   SOLE   51,053 0 0
BOULDER BRANDS INC COM 101405108 490 35,980 SH   SOLE   35,980 0 0
CHESAPEAKE ENERGY CORP COM 165167107 6,447 280,462 SH   SOLE   280,462 0 0
CINTAS CORP COM 172908105 1,096 15,537 SH   SOLE   15,537 0 0
COLFAX CORP COM 194014106 5,074 89,075 SH   SOLE   89,075 0 0
DIRECTV COM 25490A309 1,489 17,213 SH   SOLE   17,213 0 0
EMERSON ELEC CO COM 291011104 822 13,147 SH   SOLE   13,147 0 0
EOG RES INC COM 26875P101 1,069 10,800 SH   SOLE   10,800 0 0
EXCO RESOURCES INC COM 269279402 840 251,530 SH   SOLE   251,530 0 0
FIFTH STREET FINANCE CORP COM 31678A103 688 75,000 SH   SOLE   75,000 0 0
FREEPORT MCMORAN INC CL B 35671D857 8,402 257,356 SH   SOLE   257,356 0 0
GAP INC DEL COM 364760108 770 18,493 SH   SOLE   18,493 0 0
GENERAL ELECTRIC CO COM 369604103 5,259 205,305 SH   SOLE   205,305 0 0
HALCON RES CORP COM NEW 40537Q209 374 94,522 SH   SOLE   94,522 0 0
HANSEN MEDICAL INC COM 411307101 256 217,167 SH   SOLE   217,167 0 0
HERBALIFE LTD COM USD SHS G4412G101 573 13,101 SH   SOLE   13,101 0 0
HOLOGIC INC COM 436440101 1,010 41,517 SH   SOLE   41,517 0 0
HOMEFED CORP COM 43739D307 1,300 25,000 SH   SOLE   25,000 0 0
HORNBECK OFFSHORE SVCS INC N COM 440543106 704 21,525 SH   SOLE   21,525 0 0
INTREXON CORP COM 46122T102 236 12,702 SH   SOLE   12,702 0 0
KALOBIOS PHARMACEUTICALS INC COM 48344T100 91 59,140 SH   SOLE   59,140 0 0
KERYX BIOPHARMACEUTICALS INC COM 492515101 261 18,998 SH   SOLE   18,998 0 0
KYTHERA BIOPHARMACEUTICALS I COM 501570105 340 10,408 SH   SOLE   10,408 0 0
LAMAR ADVERTISING CO CL A 512815101 542 11,009 SH   SOLE   11,009 0 0
LANDS END INC NEW COM 51509F105 2,452 59,646 SH   SOLE   59,646 0 0
LEGG MASON INC COM 524901105 1,441 28,186 SH   SOLE   28,186 0 0
LENNAR CORP CL A 526057104 497 12,815 SH   SOLE   12,815 0 0
LEUCADIA NATL CORP COM 527288104 13,543 568,084 SH   SOLE   568,084 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 1,295 31,596 SH   SOLE   31,596 0 0
LIBERTY MEDIA CORP DELAWARE CL A 531229102 2,385 50,558 SH   SOLE   50,558 0 0
LIBERTY MEDIA CORP DELAWARE COM SER 531229300 4,578 97,434 SH   SOLE   97,434 0 0
LIVE NATION ENTERTAINMENT IN COM 538034109 5,565 231,709 SH   SOLE   231,709 0 0
MAGNUM HUNTER RES CORP DEL COM 55973B102 620 111,341 SH   SOLE   111,341 0 0
MANNKIND CORP COM 56400P201 1,575 266,566 SH   SOLE   266,566 0 0
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 834 61,931 SH   SOLE   61,931 0 0
MASCO CORP COM 574599106 701 29,340 SH   SOLE   29,340 0 0
MCEWEN MNG INC COM 58039P107 3,472 1,771,765 SH   SOLE   1,771,765 0 0
MICROSOFT CORP COM 594918104 7,506 161,917 SH   SOLE   161,917 0 0
MURPHY OIL CORP COM 626717102 1,051 18,474 SH   SOLE   18,474 0 0
NEW GOLD INC CDA COM 644535106 2,150 425,902 SH   SOLE   425,902 0 0
NMI HLDGS INC CL A 629209305 4,445 513,875 SH   SOLE   513,875 0 0
OAKTREE CAP GROUP LLC UNIT CL A 674001201 1,022 20,000 SH   SOLE   20,000 0 0
OPKO HEALTH INC COM 68375N103 703 82,669 SH   SOLE   82,669 0 0
PACIFIC MERCANTILE BANCORP COM 694552100 538 77,276 SH   SOLE   77,276 0 0
POST HLDGS INC COM 737446104 560 16,892 SH   SOLE   16,892 0 0
POTASH CORP SASK INC COM 73755l107 2,725 78,861 SH   SOLE   78,861 0 0
PROSPECT CAPITAL CORPORATION COM 74348T102 1,386 140,000 SH   SOLE   140,000 0 0
REMY INTL INC COM 759663107 3,370 164,153 SH   SOLE   164,153 0 0
SANDRIDGE ENERGY INC COM 80007P307 426 99,360 SH   SOLE   99,360 0 0
SEARS HLDGS CORP COM 812350106 8,859 351,142 SH   SOLE   351,142 0 0
SEARS HOMETOWN AND OUTLET STOR COM 812362101 4,226 272,681 SH   SOLE   272,681 0 0
SEVENTY SEVEN ENERGY INC COM 818097107 462 19,470 SH   SOLE   19,470 0 0
SKILLED HEALTHCARE GROUP INC CL A 83066R107 1,276 193,403 SH   SOLE   193,403 0 0
SONIC AUTOMOTIVE INC CL A 83545G102 625 25,517 SH   SOLE   25,517 0 0
SPX CORP COM 784635104 924 9,845 SH   SOLE   9,845 0 0
ST JOE CO COM 790148100 525 26,385 SH   SOLE   26,385 0 0
STARWOOD PPTY TR INC COM 85571B105 1,098 50,000 SH   SOLE   50,000 0 0
THERAVANCE BIOPHARMA INC COM G8807B106 252 10,961 SH   SOLE   10,961 0 0
THERAVANCE INC COM 88338T104 248 14,530 SH   SOLE   14,530 0 0
TRI POINTE HOMES INC COM 87265H109 903 69,859 SH   SOLE   69,859 0 0
U S G CORP COM NEW 903293405 1,510 54,963 SH   SOLE   54,963 0 0
VIASAT INC COM 92552V100 458 8,325 SH   SOLE   8,325 0 0
WAL MART STORES INC COM 931142103 3,014 39,423 SH   SOLE   39,423 0 0
YAMANA GOLD INC COM 98462Y100 813 135,559 SH   SOLE   135,559 0 0
VALE S A ADR 91912E105 955 86,811 SH   SOLE   86,811 0 0
BOARDWALK PIPELINE PARTNERS UT LTD PARTNER 096627104 968 51,778 SH   SOLE   51,778 0 0
CALUMET SPECIALTY PRODS PTNR UT LTD PARTNER 131476103 1,290 47,000 SH   SOLE   47,000 0 0
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 767 12,000 SH   SOLE   12,000 0 0
NUSTAR ENERGY LP UNIT COM 67058H102 1,318 20,000 SH   SOLE   20,000 0 0
WESTERN GAS PARTNERS LP COM UNIT LP IN 958254104 1,275 17,000 SH   SOLE   17,000 0 0
HATTERAS FINL CORP UNIT 41902R103 538 30,000 SH   SOLE   30,000 0 0
PENNYMAC MTG INVT TR COM 70931T103 428 20,000 SH   SOLE   20,000 0 0
WINTHROP RLTY TR SH BEN INT NEW 976391300 1,104 73,265 SH   SOLE   73,265 0 0
BROOKFIELD PPTY PARTNERS L P UNIT LTD PARTN G16249107 2,212 105,000 SH   SOLE   105,000 0 0
BP PRUDHOE BAY RTY TR UNIT BEN INT 055630107 1,601 17,000 SH   SOLE   17,000 0 0