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
ACTIVE POWER INC COM NEW 00504W308 549 200,000 SH   SOLE   200,000 0 0
AMERICAN CAPITAL AGENCY CORP COM 02503X105 21,397 927,667 SH   SOLE   927,667 0 0
AMERICAN INTL GROUP W EXP 2021 026874156 285 10,678 SH   SOLE   10,678 0 0
ANNALY CAP MGMT INC COM 035710409 24,140 2,142,793 SH   SOLE   2,142,793 0 0
APPLE INC COM 037833100 715 7,665 SH   SOLE   7,665 0 0
ARCH CAP GROUP LTD ORD G0450A105 741 12,810 SH   SOLE   12,810 0 0
ATMEL CORP COM 049513104 181,271 19,221,537 SH   SOLE   19,221,537 0 0
AVON PRODS INC COM 054303102 1,740 120,000 SH   SOLE   120,000 0 0
BAIDU INC SPON ADR REP A 056752108 4,771 25,000 SH   SOLE   25,000 0 0
BANCORP INC DEL COM 05969A105 2,022 170,403 SH   SOLE   170,403 0 0
BARRICK GOLD CORP COM 067901108 140,830 7,764,084 SH   SOLE   7,764,084 0 0
BEACON ROOFING SUPPLY INC COM 073685109 2,678 80,000 SH   SOLE   80,000 0 0
BERKSHIRE HATHAWAY INC DEL CL B 084670207 1,858 14,650 SH   SOLE   14,650 0 0
BANK OF AMERICA CORP WEXP10/28/201 060505153 694 933,618 SH   SOLE   933,618 0 0
C&J ENERGY SVCS INC COM 12467B304 2,314 70,000 SH   SOLE   70,000 0 0
CALLAWAY GOLF CO COM 131193104 2,489 288,277 SH   SOLE   288,277 0 0
CANADIAN SOLAR INC COM 136635109 21,560 703,733 SH   SOLE   703,733 0 0
CAREFUSION CORP COM 14170T101 1,806 40,000 SH   SOLE   40,000 0 0
CARNIVAL PLC ADR 14365C300 40,890 1,092,199 SH   SOLE   1,092,199 0 0
CHIMERA INVT CORP COM 16934Q109 3,729 1,181,185 SH   SOLE   1,181,185 0 0
CHINA LODGING GRP LTD SPON ADR 16949N109 6,253 250,000 SH   SOLE   250,000 0 0
CISCO SYS INC COM 17275R102 5,534 221,258 SH   SOLE   221,258 0 0
CIT GROUP INC COM NEW 047294037 2,065 45,000 SH   SOLE   45,000 0 0
CLEAN DIESEL TECH COM PAR 18449C401 88 32,622 SH   SOLE   32,622 0 0
COWEN GROUP INC NEW CL A 223622101 2,047 477,720 SH   SOLE   477,720 0 0
DAQO NEW ENERGY CORP SPNSRD ADR NEW 23703Q203 1,232 40,000 SH   SOLE   40,000 0 0
DR PEPPER SNAPPLE GROUP INC COM 26138E109 1,510 25,669 SH   SOLE   25,669 0 0
DRDGOLD LIMITED SPON ADR NEW 26152H301 98 34,015 SH   SOLE   34,015 0 0
E2OPEN INC COM 29788A104 2,863 135,000 SH   SOLE   135,000 0 0
EXXON MOBIL CORP COM 30231G102 536 5,305 SH   SOLE   5,305 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 103,341 2,811,998 SH   SOLE   2,811,998 0 0
GENERAL DYNAMICS COM 369550108 213,550 1,838,632 SH   SOLE   1,838,632 0 0
GENERAL ELECTRIC CO COM 369604103 2,821 107,151 SH   SOLE   107,151 0 0
Gold Fields Ltd SPONS ADR 38059T106 568 155,050 SH   SOLE   155,050 0 0
GOOGLE INC CL A 38259P508 37,518 63,593 SH   SOLE   63,593 0 0
GOOGLE INC CL C 38259P706 24,047 41,377 SH   SOLE   41,377 0 0
HACKETT GROUP INC COM 404609109 142 23,400 SH   SOLE   23,400 0 0
HARMONY GOLD MNG LTD SPONS ADR 413216300 89 30,000 SH   SOLE   30,000 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 186,684 1,003,939 SH   SOLE   1,003,939 0 0
JOHNSON & JOHNSON COM 478160104 24,641 233,377 SH   SOLE   233,377 0 0
JPMORGAN CHASE & CO COM 46625H100 237,886 4,143,121 SH   SOLE   4,143,121 0 0
KINROSS GOLD CORP COM NO PAR 496902404 39,323 9,482,979 SH   SOLE   9,482,979 0 0
KKR FINL HLDGS LLC COM 48248M102 440 18,000 SH   SOLE   18,000 0 0
LEUCADIA NATL CORP COM 527288104 158,279 6,088,132 SH   SOLE   6,088,132 0 0
LOCKHEED MARTIN CORP COM 539830109 368,748 2,301,544 SH   SOLE   2,301,544 0 0
LOEWS CORP COM 540424108 4,427 100,000 SH   SOLE   100,000 0 0
M & T BK CORP COM 55261F104 18,001 144,426 SH   SOLE   144,426 0 0
MANITEX INTL INC COM 563420108 1,658 100,000 SH   SOLE   100,000 0 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 731 27,928 SH   SOLE   27,928 0 0
MARKET VECTORS ETF TR JR GOLD MINERS E 57061R544 12,830 310,112 SH   SOLE   310,112 0 0
MARSH & MCLENNAN COS INC COM 571748102 517 9,950 SH   SOLE   9,950 0 0
MCDONALDS CORP COM 580135101 312 3,101 SH   SOLE   3,101 0 0
MEDIVATION COM 58501V101 3,521 45,000 SH   SOLE   45,000 0 0
MERCK & CO INC NEW COM 58933Y105 3,653 62,616 SH   SOLE   62,616 0 0
MICROSOFT CORP COM 594918104 286,129 6,853,038 SH   SOLE   6,853,038 0 0
MITSUBISHI UFJ FINL GROUP IN SPONSORED ADR 606822104 77 12,300 SH   SOLE   12,300 0 0
MIZUHO FINL GROUP INC SPONSORED ADR 60687Y109 73 17,800 SH   SOLE   17,800 0 0
MONDELEZ INTL INC CL A 609207105 4,736 125,391 SH   SOLE   125,391 0 0
MOSAIC CO NEW COM 61945C103 3,938 80,000 SH   SOLE   80,000 0 0
MRC GLOBAL INC COM 55345K103 7,233 256,905 SH   SOLE   256,905 0 0
MSC INDL DIRECT INC CL A 553530106 2,356 25,000 SH   SOLE   25,000 0 0
NEWMONT MINING CORP COM 651639106 20,370 814,462 SH   SOLE   814,462 0 0
NOVARTIS A G SPONSORED ADR 66987V109 32,535 356,994 SH   SOLE   356,994 0 0
OASIS PETE INC NEW COM 674215108 3,906 70,000 SH   SOLE   70,000 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 7,690 75,000 SH   SOLE   75,000 0 0
ORACLE CORP COM 68389X105 240,458 5,915,293 SH   SOLE   5,915,293 0 0
PEPSICO INC COM 713448108 2,711 30,500 SH   SOLE   30,500 0 0
PFIZER INC COM 717081103 213 7,100 SH   SOLE   7,100 0 0
PHILIP MORRIS INTL INC COM 718172109 231 2,750 SH   SOLE   2,750 0 0
PROCERA NETWORKS INC COM NEW 74269U203 2,371 230,410 SH   SOLE   230,410 0 0
QUALCOMM INC COM 747525103 280,193 3,524,427 SH   SOLE   3,524,427 0 0
RACKSPACE HOSTING COM 750086100 606 18,000 SH   SOLE   18,000 0 0
REPUBLIC SVCS INC COM 760759100 1,521 40,000 SH   SOLE   40,000 0 0
ROCKET FUEL INC COM 773111109 1,565 53,000 SH   SOLE   53,000 0 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 524 6,000 SH   SOLE   6,000 0 0
SANOFI RIGHT 12/31/2020 80105N113 7 14,000 SH   SOLE   14,000 0 0
SCIENCE APPLICATNS INTL CP N COM 808625107 641 14,285 SH   SOLE   14,285 0 0
SEACOR HOLDINGS INC COM 811904101 2,046 25,000 SH   SOLE   25,000 0 0
SEARS HLDGS CORP COM 812350106 604 15,000 SH   SOLE   15,000 0 0
STILLWATER MNG CO NOTE 1.750%10/1 86074QAL6 82 55,000 SH   SOLE   55,000 0 0
STILLWATER MNG CO COM 86074Q102 5,881 328,405 SH   SOLE   328,405 0 0
STYKER CORP COM 863667101 1,535 18,000 SH   SOLE   18,000 0 0
TEXAS INSTRS INC COM 882508104 147,630 3,053,335 SH   SOLE   3,053,335 0 0
TREX CO INC Com 89531P105 1,561 54,000 SH   SOLE   54,000 0 0
ULTRATECH INC COM 904034105 2,050 90,000 SH   SOLE   90,000 0 0
UNITED CONTL HLDGS INC COM 910047109 1,264 30,000 SH   SOLE   30,000 0 0
BANCORP DEL COM NEW 902973304 7,814 180,730 SH   SOLE   180,730 0 0
U S SILICA HLDGS INC COM 90346E103 1,931 35,000 SH   SOLE   35,000 0 0
VALE S A ADR 91912E105 22,365 1,665,307 SH   SOLE   1,665,307 0 0
VALERO ENERGY CORP NEW COM 91913Y100 271 5,400 SH   SOLE   5,400 0 0
VEECO INSTRS INC DEL COM 922417100 1,670 45,000 SH   SOLE   45,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 13,880 282,085 SH   SOLE   282,085 0 0
VIACOM INC NEW CL B 92553P201 17,526 202,289 SH   SOLE   202,289 0 0
WAL MART STORES INC COM 931142103 28,040 373,512 SH   SOLE   373,512 0 0