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
AMERICAN INTL GROUP INC COM NEW 026874784 7,134 159,600 SH   DFND   0 159,600 0
BAZAARVOICE INC COM 073271108 5,922 628,086 SH   DFND   0 628,086 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 7,913 70,700 SH   DFND   0 70,700 0
CSX CORP COM 126408103 3,599 155,200 SH   DFND   0 155,200 0
CAL DIVE INTL INC DEL COM 12802T101 3,452 1,836,068 SH   DFND   0 1,836,068 0
CORINTHIAN COLLEGES INC COM 218868107 1,827 815,450 SH   DFND   0 815,450 0
DELTA AIR LINES INC DEL COM NEW 247361702 7,834 418,700 SH   DFND   0 418,700 0
DIRECTV COM 25490A309 7,508 121,800 SH   DFND   0 121,800 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 3,038 49,200 SH   DFND   0 49,200 0
EXTERRAN PARTNERS LP COM UNITS 30225N105 4,535 150,200 SH   DFND   0 150,200 0
GULFPORT ENERGY CORP COM NEW 402635304 3,485 74,000 SH   DFND   0 74,000 0
HOSPIRA INC COM 441060100 4,573 119,380 SH   DFND   0 119,380 0
LEE ENTERPRISES COM 523768109 4,777 2,341,548 SH   DFND   0 2,341,548 0
MICROS SYS INC COM 594901100 5,743 133,100 SH   DFND   0 133,100 0
PDC ENERGY INC COM 69327R101 8,070 156,756 SH   DFND   0 156,756 0
WELLS FARGO & CO NEW COM 949746101 6,170 149,500 SH   DFND   0 149,500 0
WUXI PHARMATECH CAYMAN INC SPONS ADR SHS 929352102 6,504 309,732 SH   DFND   0 309,732 0