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
AGNICO EAGLE MINES LTD COM 008474108 363 12,500 SH   DFND 1,2,3 12,500 0 0
ALON USA PARTNERS LP UT LTDPART INT 02052T109 8,678 490,000 SH   DFND 1,2,3 490,000 0 0
AMAZON COM INC COM 023135106 645 2,000 SH   DFND 1,2,3 2,000 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 7,262 204,668 SH   DFND 1,2,3 204,668 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 1,405 26,000 SH   DFND 1,2,3 26,000 0 0
APPLE INC COM 037833100 29,501 292,809 SH   DFND 1,2,3 292,809 0 0
AUTOZONE INC COM 053332102 1,274 2,500 SH   DFND 1,2,3 2,500 0 0
AVIS BUDGET GROUP COM 053774105 104,571 1,905,100 SH   DFND 1,2,3 1,905,100 0 0
BANK AMER CORP COM 060505104 44,932 2,635,327 SH   DFND 1,2,3 2,635,327 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 17,033 123,300 SH   DFND 1,2,3 123,300 0 0
BEST BUY INC COM 086516101 10,006 297,875 SH   DFND 1,2,3 297,875 0 0
BRIGGS & STRATTON CORP COM 109043109 27,097 1,503,716 SH   DFND 1,2,3 1,503,716 0 0
CADIZ INC COM NEW 127537207 21,811 2,099,200 SH   DFND 1,2,3 2,099,200 0 0
CAPITAL ONE FINL CORP COM 14040H105 490 6,000 SH   DFND 1,2,3 6,000 0 0
CF INDS HLDGS INC COM 125269100 161,710 579,148 SH   DFND 1,2,3 579,148 0 0
CHEVRON CORP NEW COM 166764100 1,193 10,000 SH   DFND 1,2,3 10,000 0 0
CIRRUS LOGIC INC COM 172755100 36,488 1,750,000 SH   DFND 1,2,3 1,750,000 0 0
CIT GROUP INC COM NEW 125581801 37,107 807,373 SH   DFND 1,2,3 807,373 0 0
CITIGROUP INC COM NEW 172967424 28,792 555,625 SH   DFND 1,2,3 555,625 0 0
COMCAST CORP NEW CL A 20030N101 2,958 55,000 SH   DFND 1,2,3 55,000 0 0
CONTROL4 CORP COM 21240D107 6,400 495,000 SH   DFND 1,2,3 495,000 0 0
CUMMINS INC COM 231021106 5,084 38,524 SH   DFND 1,2,3 38,524 0 0
DANA HLDG CORP COM 235825205 47,844 2,495,789 SH   DFND 1,2,3 2,495,789 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 207,179 5,731,097 SH   DFND 1,2,3 5,731,097 0 0
DISCOVER FINL SVCS COM 254709108 5,004 77,720 SH   DFND 1,2,3 77,720 0 0
D R HORTON INC COM 23331A109 233,534 11,380,819 SH   DFND 1,2,3 11,380,819 0 0
E M C CORP MASS COM 268648102 2,048 70,000 SH   DFND 1,2,3 70,000 0 0
EOG RES INC COM 26875P101 34,342 346,821 SH   DFND 1,2,3 346,821 0 0
ETHAN ALLEN INTERIORS INC COM 297602104 46,227 2,027,482 SH   DFND 1,2,3 2,027,482 0 0
EXXON MOBIL CORP COM 30231G102 4,703 50,000 SH   DFND 1,2,3 50,000 0 0
FIRST AMERN FINL CORP COM 31847R102 86,077 3,173,916 SH   DFND 1,2,3 3,173,916 0 0
FORTUNE BRANDS HOME & SEC IN COM 34964C106 822 20,000 SH   DFND 1,2,3 20,000 0 0
GOOGLE INC CL A 38259P508 103,311 175,577 SH   DFND 1,2,3 175,577 0 0
GRIFOLS S A SP ADR REP B NVT 398438408 1,757 50,000 SH   DFND 1,2,3 50,000 0 0
HESS CORP COM 42809H107 1,320 14,000 SH   DFND 1,2,3 14,000 0 0
HEWLETT PACKARD CO COM 428236103 709 20,000 SH   DFND 1,2,3 20,000 0 0
ICICI BK LTD ADR 45104G104 5,270 107,342 SH   DFND 1,2,3 107,342 0 0
IPG PHOTONICS CORP COM 44980X109 5,596 81,363 SH   DFND 1,2,3 81,363 0 0
KB HOME COM 48666K109 39,785 2,663,000 SH   DFND 1,2,3 2,663,000 0 0
KNIGHT TRANSN INC COM 499064103 35,091 1,281,165 SH   DFND 1,2,3 1,281,165 0 0
LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 3,401 74,363 SH   DFND 1,2,3 74,363 0 0
LOUISIANA PAC CORP COM 546347105 408 30,000 SH   DFND 1,2,3 30,000 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 136,773 1,258,729 SH   DFND 1,2,3 1,258,729 0 0
METHANEX CORP COM 59151K108 14,329 214,500 SH   DFND 1,2,3 214,500 0 0
MGM RESORTS INTERNATIONAL COM 552953101 3,417 150,000 SH   DFND 1,2,3 150,000 0 0
MICROSOFT CORP COM 594918104 5,640 121,650 SH   DFND 1,2,3 121,650 0 0
NATIONAL BK HLDGS CORP CL A 633707104 3,883 203,101 SH   DFND 1,2,3 203,101 0 0
NAVISTAR INTL CORP NEW COM 63934E108 16,278 494,631 SH   DFND 1,2,3 494,631 0 0
NEWELL RUBBERMAID INC COM 651229106 6,571 190,954 SH   DFND 1,2,3 190,954 0 0
NVR INC COM 62944T105 6,711 5,939 SH   DFND 1,2,3 5,939 0 0
PACCAR INC COM 693718108 178,035 3,130,280 SH   DFND 1,2,3 3,130,280 0 0
PALO ALTO NETWORKS INC COM 697435105 1,962 20,000 SH   DFND 1,2,3 20,000 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 639 45,000 SH   DFND 1,2,3 45,000 0 0
PFIZER INC COM 717081103 828 28,000 SH   DFND 1,2,3 28,000 0 0
PIONEER NAT RES CO COM 723787107 35,760 181,553 SH   DFND 1,2,3 181,553 0 0
PLATINUM GROUP METALS LTD COM NEW 72765Q205 1,099 1,240,139 SH   DFND 1,2,3 1,240,139 0 0
POLYONE CORP COM 73179P106 2,999 84,288 SH   DFND 1,2,3 84,288 0 0
PULTE GROUP INC COM 745867101 81,249 4,600,757 SH   DFND 1,2,3 4,600,757 0 0
QUANEX BUILDING PRODUCTS COR COM 747619104 80,203 4,433,559 SH   DFND 1,2,3 4,433,559 0 0
SANCHEZ ENERGY CORP COM 79970Y105 58,743 2,236,987 SH   DFND 1,2,3 2,236,987 0 0
SCHLUMBERGER LTD COM 806857108 2,796 27,500 SH   DFND 1,2,3 27,500 0 0
SIGNET JEWELERS LIMITED SHS G81276100 238,225 2,091,340 SH   DFND 1,2,3 2,091,340 0 0
SILVER WHEATON CORP COM 828336107 2,471 124,000 SH   DFND 1,2,3 124,000 0 0
STOCK BLDG SUPPLY HLDGS INC COM 86101X104 19,612 1,248,388 SH   DFND 1,2,3 1,248,388 0 0
SWIFT TRANSN CO CL A 87074U101 30,551 1,456,199 SH   DFND 1,2,3 1,456,199 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 53,746 292,780 SH   DFND 1,2,3 292,780 0 0
HOME DEPOT INC COM 437076102 3,073 33,500 SH   DFND 1,2,3 33,500 0 0
RYLAND GROUP INC COM 783764103 45,860 1,379,667 SH   DFND 1,2,3 1,379,667 0 0
DISNEY WALT CO COM DISNEY 254687106 6,677 75,000 SH   DFND 1,2,3 75,000 0 0
UNITED CONTL HLDGS INC COM 910047109 25,525 545,533 SH   DFND 1,2,3 545,533 0 0
UNITED PARCEL SERVICE INC CL B 911312106 3,047 31,000 SH   DFND 1,2,3 31,000 0 0
UNITED RENTALS INC COM 911363109 90,658 816,003 SH   DFND 1,2,3 816,003 0 0
UNITED STATES STL CORP NEW COM 912909108 3,134 80,000 SH   DFND 1,2,3 80,000 0 0
UNITED TECHNOLOGIES CORP COM 913017109 2,904 27,500 SH   DFND 1,2,3 27,500 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 23,091 461,914 SH   DFND 1,2,3 461,914 0 0
WELLPOINT INC COM 94973V107 5,981 50,000 SH   DFND 1,2,3 50,000 0 0
WELLS FARGO & CO NEW COM 949746101 161,036 3,104,602 SH   DFND 1,2,3 3,104,602 0 0
WHIRLPOOL CORP COM 963320106 73,712 506,093 SH   DFND 1,2,3 506,093 0 0