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
ADVANCE AUTO PARTS INC COM 00751Y106 1,272 8,500 SH   DFND 1,2,3 8,500 0 0
AMAZON COM INC COM 023135106 91,909 247,000 SH   DFND 1,2,3 247,000 0 0
AMEDICA CORP COM 023435100 70 200,000 SH   DFND 1,2,3 200,000 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 54,522 1,033,000 SH   DFND 1,2,3 1,033,000 0 0
AMERICAN EXPRESS CO COM 025816109 562 7,200 SH   DFND 1,2,3 7,200 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 548 10,000 SH   DFND 1,2,3 10,000 0 0
ANALOGIC CORP COM PAR $0.05 032657207 909 10,000 SH   DFND 1,2,3 10,000 0 0
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 1,051 112,500 SH   DFND 1,2,3 112,500 0 0
ANTHEM INC COM 036752103 2,316 15,000 SH   DFND 1,2,3 15,000 0 0
APPLE INC COM 037833100 41,985 337,420 SH   DFND 1,2,3 337,420 0 0
AUTOZONE INC COM 053332102 2,217 3,250 SH   DFND 1,2,3 3,250 0 0
BAKER HUGHES INC COM 057224107 3,065 48,200 SH   DFND 1,2,3 48,200 0 0
BANK AMER CORP COM 060505104 17,545 1,140,000 SH   DFND 1,2,3 1,140,000 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 18,950 131,304 SH   DFND 1,2,3 131,304 0 0
BRIGGS & STRATTON CORP COM 109043109 8,639 420,608 SH   DFND 1,2,3 420,608 0 0
CADIZ INC COM NEW 127537207 23,457 2,287,367 SH   DFND 1,2,3 2,287,367 0 0
CELGENE CORP COM 151020104 1,383 12,000 SH   DFND 1,2,3 12,000 0 0
CF INDS HLDGS INC COM 125269100 77,536 273,322 SH   DFND 1,2,3 273,322 0 0
CIRRUS LOGIC INC COM 172755100 18,127 545,000 SH   DFND 1,2,3 545,000 0 0
CISCO SYS INC COM 17275R102 3,165 115,000 SH   DFND 1,2,3 115,000 0 0
CIT GROUP INC COM NEW 125581801 37,692 835,368 SH   DFND 1,2,3 835,368 0 0
CITIGROUP INC COM NEW 172967424 48,343 938,331 SH   DFND 1,2,3 938,331 0 0
COMCAST CORP NEW CL A 20030N101 3,953 70,000 SH   DFND 1,2,3 70,000 0 0
CONTROL4 CORP COM 21240D107 16,544 1,381,000 SH   DFND 1,2,3 1,381,000 0 0
CORE LABORATORIES N V COM N22717107 1,515 14,500 SH   DFND 1,2,3 14,500 0 0
COSTCO WHSL CORP NEW COM 22160K105 1,515 10,000 SH   DFND 1,2,3 10,000 0 0
D R HORTON INC COM 23331A109 149,351 5,244,057 SH   DFND 1,2,3 5,244,057 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 94,576 2,103,559 SH   DFND 1,2,3 2,103,559 0 0
DHT HOLDINGS INC SHS NEW Y2065G121 16,462 2,358,500 SH   DFND 1,2,3 2,358,500 0 0
DISCOVER FINL SVCS COM 254709108 4,492 79,720 SH   DFND 1,2,3 79,720 0 0
DISNEY WALT CO COM DISNEY 254687106 8,391 80,000 SH   DFND 1,2,3 80,000 0 0
DOLLAR TREE INC COM 256746108 5,031 62,000 SH   DFND 1,2,3 62,000 0 0
ELECTRONIC ARTS INC COM 285512109 8,058 137,000 SH   DFND 1,2,3 137,000 0 0
EOG RES INC COM 26875P101 24,894 271,501 SH   DFND 1,2,3 271,501 0 0
ETHAN ALLEN INTERIORS INC COM 297602104 55,114 1,994,000 SH   DFND 1,2,3 1,994,000 0 0
FACEBOOK INC CL A 30303M102 5,024 61,100 SH   DFND 1,2,3 61,100 0 0
FACTSET RESH SYS INC COM 303075105 3,502 22,000 SH   DFND 1,2,3 22,000 0 0
FIRST AMERN FINL CORP COM 31847R102 81,169 2,274,915 SH   DFND 1,2,3 2,274,915 0 0
FORTUNE BRANDS HOME & SEC IN COM 34964C106 475 10,000 SH   DFND 1,2,3 10,000 0 0
FRONTLINE LTD SHS G3682E127 2,507 1,119,259 SH   DFND 1,2,3 1,119,259 0 0
GILEAD SCIENCES INC COM 375558103 2,944 30,000 SH   DFND 1,2,3 30,000 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 160,434 853,507 SH   DFND 1,2,3 853,507 0 0
HALLIBURTON CO COM 406216101 2,672 60,900 SH   DFND 1,2,3 60,900 0 0
HEWLETT PACKARD CO COM 428236103 65,027 2,086,882 SH   DFND 1,2,3 2,086,882 0 0
HOME DEPOT INC COM 437076102 3,806 33,500 SH   DFND 1,2,3 33,500 0 0
INTERNATIONAL FLAVORS&FRAGRA COM 459506101 3,651 31,100 SH   DFND 1,2,3 31,100 0 0
IPG PHOTONICS CORP COM 44980X109 35,084 378,471 SH   DFND 1,2,3 378,471 0 0
JOHNSON & JOHNSON COM 478160104 402 4,000 SH   DFND 1,2,3 4,000 0 0
KB HOME COM 48666K109 47,016 3,010,000 SH   DFND 1,2,3 3,010,000 0 0
LENNAR CORP CL A 526057104 81,193 1,567,128 SH   DFND 1,2,3 1,567,128 0 0
MASTERCARD INC CL A 57636Q104 648 7,500 SH   DFND 1,2,3 7,500 0 0
MEADWESTVACO CORP COM 583334107 598 12,000 SH   DFND 1,2,3 12,000 0 0
MICHAEL KORS HLDGS LTD SHS G60754101 2,959 45,000 SH   DFND 1,2,3 45,000 0 0
MICROSOFT CORP COM 594918104 5,434 133,650 SH   DFND 1,2,3 133,650 0 0
MOODYS CORP COM 615369105 3,218 31,000 SH   DFND 1,2,3 31,000 0 0
NATIONAL BK HLDGS CORP CL A 633707104 4,043 214,949 SH   DFND 1,2,3 214,949 0 0
NEWELL RUBBERMAID INC COM 651229106 7,938 203,182 SH   DFND 1,2,3 203,182 0 0
NIKE INC CL B 654106103 6,321 63,000 SH   DFND 1,2,3 63,000 0 0
PACCAR INC COM 693718108 34,727 550,000 SH   DFND 1,2,3 550,000 0 0
PALO ALTO NETWORKS INC COM 697435105 2,922 20,000 SH   DFND 1,2,3 20,000 0 0
PATTERSON UTI ENERGY INC COM 703481101 1,416 75,400 SH   DFND 1,2,3 75,400 0 0
PRICELINE GRP INC COM NEW 741503403 1,513 1,300 SH   DFND 1,2,3 1,300 0 0
PULTE GROUP INC COM 745867101 41,335 1,859,429 SH   DFND 1,2,3 1,859,429 0 0
QUANEX BUILDING PRODUCTS COR COM 747619104 59,033 2,990,520 SH   DFND 1,2,3 2,990,520 0 0
RYLAND GROUP INC COM 783764103 63,628 1,305,454 SH   DFND 1,2,3 1,305,454 0 0
SCHWAB CHARLES CORP NEW COM 808513105 7,306 240,000 SH   DFND 1,2,3 240,000 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 3,240 25,000 SH   DFND 1,2,3 25,000 0 0
SIGNET JEWELERS LIMITED SHS G81276100 12,769 92,002 SH   DFND 1,2,3 92,002 0 0
SILVER WHEATON CORP COM 828336107 5,858 308,000 SH   DFND 1,2,3 308,000 0 0
SMUCKER J M CO COM NEW 832696405 3,472 30,000 SH   DFND 1,2,3 30,000 0 0
STOCK BLDG SUPPLY HLDGS INC COM 86101X104 34,771 1,925,300 SH   DFND 1,2,3 1,925,300 0 0
SWIFT TRANSN CO CL A 87074U101 40,598 1,560,274 SH   DFND 1,2,3 1,560,274 0 0
UNITED CONTL HLDGS INC COM 910047109 5,313 79,000 SH   DFND 1,2,3 79,000 0 0
V F CORP COM 918204108 3,389 45,000 SH   DFND 1,2,3 45,000 0 0
VIMPELCOM LTD SPONSORED ADR 92719A106 629 120,000 SH   DFND 1,2,3 120,000 0 0
WHIRLPOOL CORP COM 963320106 51,002 252,408 SH   DFND 1,2,3 252,408 0 0
YUM BRANDS INC COM 988498101 1,574 20,000 SH   DFND 1,2,3 20,000 0 0