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
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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
Adams Express COM 006212104 2,244 177,114 SH   SOLE   177,114 0 0
American Express Company COM 025816109 14,886 245,000 SH   SOLE   245,000 0 0
Anadarko Petroleum Corporation COM 032511107 11,609 218,000 SH   SOLE   218,000 0 0
Aon plc COM G0408V102 17,354 158,877 SH   SOLE   158,877 0 0
Apache Corporation COM 037411105 11,184 200,900 SH   SOLE   200,900 0 0
Apple Inc. COM 037833100 17,590 184,000 SH   SOLE   184,000 0 0
Applied DNA Sciences, Inc. - W COM 03815U110 322 281,409 SH   SOLE   281,409 0 0
Arantana Therapeutics, Inc. COM 03874P101 2,604 412,101 SH   SOLE   412,101 0 0
Arch Capital Group Ltd. COM G0450A105 48,643 675,600 SH   SOLE   675,600 0 0
Ariad Pharmaceuticals, Inc. COM 04033A100 8,868 1,200,000 SH   SOLE   1,200,000 0 0
ASML Holding N.V. COM N07059210 19,926 200,850 SH   SOLE   200,850 0 0
Axis Capital Holdings Limited COM G0692U109 10,313 187,500 SH   SOLE   187,500 0 0
Berkshire Hathaway Inc. Class COM 084670108 23,867 110 SH   SOLE   110 0 0
Cameco Corporation COM 13321L108 17,254 1,572,819 SH   SOLE   1,572,819 0 0
Celgene Corporation COM 151020104 18,740 190,000 SH   SOLE   190,000 0 0
Cempra, Inc. COM 15130J109 8,483 514,409 SH   SOLE   514,409 0 0
Charter Communications Inc COM 16119P108 4,573 20,000 SH   SOLE   20,000 0 0
Chipotle Mexican Grill Inc. COM 169656105 8,458 21,000 SH   SOLE   21,000 0 0
Cisco Systems, Inc. COM 17275R102 29,823 1,039,500 SH   SOLE   1,039,500 0 0
Costco Wholesale Corporation COM 22160K105 26,505 168,781 SH   SOLE   168,781 0 0
Diageo plc ADR COM 25243Q205 22,847 202,400 SH   SOLE   202,400 0 0
Eaton Corporation PLC COM 278058102 13,089 219,131 SH   SOLE   219,131 0 0
EMC Corporation COM 268648102 11,140 410,000 SH   SOLE   410,000 0 0
Ensco plc Class A COM G3157S106 6,409 660,000 SH   SOLE   660,000 0 0
Everest Re Group, Ltd. COM G3223R108 22,834 125,000 SH   SOLE   125,000 0 0
Ford Motor Company COM 345370860 15,889 1,264,063 SH   SOLE   1,264,063 0 0
General Electric Company COM 369604103 26,443 840,000 SH   SOLE   840,000 0 0
Gilead Sciences, Inc. COM 375558103 36,588 438,600 SH   SOLE   438,600 0 0
Gulf Coast Ultra Deep Royalty COM 40222T104 276 3,830,440 SH   SOLE   3,830,440 0 0
Halliburton Company COM 406216101 24,230 535,000 SH   SOLE   535,000 0 0
Helix Energy Solutions Group I COM 42330P107 11,695 1,730,000 SH   SOLE   1,730,000 0 0
Hertz Global Holdings, Inc. COM 42805T105 10,462 945,064 SH   SOLE   945,064 0 0
Huntsman Corporation COM 447011107 13,200 981,422 SH   SOLE   981,422 0 0
Intel Corporation COM 458140100 10,840 330,500 SH   SOLE   330,500 0 0
Intra-Cellular Therapies Inc. COM 46116X010 7,665 197,442 SH   SOLE   197,442 0 0
JPMorgan Chase & Co. COM 46625H100 17,710 285,000 SH   SOLE   285,000 0 0
Keysight Technologies, Inc. COM 49338L103 1,929 66,300 SH   SOLE   66,300 0 0
Liberty Interactive Corporatio COM 53071M880 11,095 299,300 SH   SOLE   299,300 0 0
M&T Bank Corporation COM 55261F104 16,552 140,000 SH   SOLE   140,000 0 0
Macy's Inc. COM 55616P104 12,605 375,026 SH   SOLE   375,026 0 0
Merck & Co., Inc. COM 58933Y105 24,610 427,191 SH   SOLE   427,191 0 0
MetLife, Inc. COM 59156R108 14,538 365,000 SH   SOLE   365,000 0 0
Microsoft Corporation COM 594918104 34,831 680,686 SH   SOLE   680,686 0 0
Nelnet, Inc. COM 64031N108 17,375 500,000 SH   SOLE   500,000 0 0
Nordstrom, Inc COM 655664100 3,805 100,000 SH   SOLE   100,000 0 0
Paratek Pharmaceuticals Inc COM 699374302 6,636 477,076 SH   SOLE   477,076 0 0
PepsiCo, Inc. COM 713448108 20,658 195,000 SH   SOLE   195,000 0 0
Pfizer Inc. COM 717081103 16,225 460,808 SH   SOLE   460,808 0 0
QUALCOMM Incorporated COM 747525103 24,706 461,200 SH   SOLE   461,200 0 0
Regal Entertainment Group COM 758766109 8,333 378,100 SH   SOLE   378,100 0 0
Repros Therapeutics Inc. COM 76028H209 638 396,123 SH   SOLE   396,123 0 0
Republic Services, Inc. COM 760759100 49,914 972,800 SH   SOLE   972,800 0 0
Royce Value Trust, Inc. COM 780910105 2,625 222,985 SH   SOLE   222,985 0 0
Synchronoss Technologies, Inc. COM 87157B103 12,044 378,034 SH   SOLE   378,034 0 0
TJX Companies, Inc./The COM 872540109 74,123 959,768 SH   SOLE   959,768 0 0
United Technologies Corporatio COM 913017109 30,765 300,000 SH   SOLE   300,000 0 0
Vodafone Group plc ADR COM 92857W308 21,124 683,852 SH   SOLE   683,852 0 0