13F-HR 1 wsc123112.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2012 Check here if Amendment [ ]; Amendment Number: This amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: WS MANAGEMENT, LLLP Address: 4306 PABLO OAKS COURT JACKSONVILLE, FL. 32224 13 File Number: 28-02927 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct, and complete, and and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form Person Signing this Report on Behalf of Reporting Manager: Name: GILCHRIST B. BERG Title: GENERAL PARTNER Phone: 904-355-9989 Signature, Place and Date of Signing: GILCHRIST B. BERG January 14, 2013 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934 FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 78 Form 13F Information Table Value Total: 2742930 FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP x($1000) PRN AMT PRN CALL DISCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- -------- --------- -------- -------- -------- D ABERCROMBIE & FITCH CO CL A CO OPTIONS - PUTS 002896207 19189 400000 SH PUT SOLE 400000 0 0 D AGNICO-EAGLE MINES LTD CAD CO COMMON STOCK 008474108 22300 425085 SH SOLE 425085 0 0 D AMER EXPRESS CO COM COMMON STOCK 025816109 35425 616300 SH SOLE 616300 0 0 D ANADARKO PETE CORP COM STK COMMON STOCK 032511107 58348 785200 SH SOLE 785200 0 0 D ANADARKO PETE CORP COM STK OPTIONS - CALLS 032511107 11148 150000 SH CALL SOLE 150000 0 0 D ANADARKO PETE CORP COM STK OPTIONS - PUTS 032511107 7431 100000 SH PUT SOLE 100000 0 0 D AOL INC OPTIONS - PUTS 00184X105 11844 400000 SH PUT SOLE 400000 0 0 D APOLLO GROUP INC CL A COM STK COMMON STOCK 037604105 6161 294500 SH SOLE 294500 0 0 D APPLE INC COM STK OPTIONS - PUTS 037833100 5322 10000 SH PUT SOLE 10000 0 0 D ARROW ELECTRS INC COM STK COMMON STOCK 042735100 26005 682900 SH SOLE 682900 0 0 D ASA GOLD AND PRECIOU METALS LI COMMON STOCK G3156P103 23532 1093000 SH SOLE 1093000 0 0 D ATHENAHEALTH INC COM STK OPTIONS - PUTS 04685W103 6318 86200 SH PUT SOLE 86200 0 0 D BARRICK GOLD CORP COM COMMON STOCK 067901108 17095 488300 SH SOLE 488300 0 0 D BERKSHIRE HATHAWAY CL A INC DE COMMON STOCK 084670108 252837 1886 SH SOLE 1886 0 0 D BERKSHIRE HATHAWAY INC CLASS B COMMON STOCK 084670702 259937 2897848 SH SOLE 2897848 0 0 D BERKSHIRE HATHAWAY INC CLASS B OPTIONS - CALLS 084670702 98671 1100000 SH CALL SOLE 1100000 0 0 D BIG LOTS INC COM STK OPTIONS - PUTS 089302103 8538 300000 SH PUT SOLE 300000 0 0 D CANADIAN NATURAL RES OURCES CA COMMON STOCK 136385101 15373 532494 SH SOLE 532494 0 0 D CARMAX INC COM STK COMMON STOCK 143130102 110525 2944200 SH SOLE 2944200 0 0 D CISCO SYSTEMS INC COM STK COMMON STOCK 17275R102 89063 4532600 SH SOLE 4532600 0 0 D CONOCOPHILLIPS COM STK COMMON STOCK 20825C104 75206 1296876 SH SOLE 1296876 0 0 D COSTCO WHSL CORP NEW COM STK COMMON STOCK 22160K105 13585 137600 SH SOLE 137600 0 0 D CSX CORP COM COMMON STOCK 126408103 27614 1399600 SH SOLE 1399600 0 0 D Chemtura Corp. Commo N STOCK COMMON STOCK 163893209 83469 3926100 SH SOLE 3926100 0 0 D DECKERS OUTDOOR CORP COM STK COMMON STOCK 243537107 21995 546200 SH SOLE 546200 0 0 D DECKERS OUTDOOR CORP COM STK OPTIONS - CALLS 243537107 6041 150000 SH CALL SOLE 150000 0 0 D DECKERS OUTDOOR CORP COM STK OPTIONS - PUTS 243537107 2014 50000 SH PUT SOLE 50000 0 0 D DELTA AIRLINES INC COMMON STOCK 247361702 14951 1259600 SH SOLE 1259600 0 0 D DEVON ENERGY CORP COM STK COMMON STOCK 25179M103 5069 97400 SH SOLE 97400 0 0 D ETHAN ALLEN INTERIOR S INC COM COMMON STOCK 297602104 10976 426900 SH SOLE 426900 0 0 D EVEREST REINSURANCE GROUP LTD COMMON STOCK G3223R108 16909 153792 SH SOLE 153792 0 0 D EXPRESS SCRIPTS HOLDING COMPAN OPTIONS - PUTS 30219G108 16200 300000 SH PUT SOLE 300000 0 0 D EXXON MOBIL CORP COM STK COMMON STOCK 30231G102 26186 302550 SH SOLE 302550 0 0 D FIRST SOLAR INC COMMON STOCK 336433107 7297 236500 SH SOLE 236500 0 0 D FIRST SOLAR INC OPTIONS - CALLS 336433107 31186 1010700 SH CALL SOLE 1010700 0 0 D FIRST SOLAR INC OPTIONS - PUTS 336433107 29314 950000 SH PUT SOLE 950000 0 0 D FORD MOTOR COMPANY COM STK COMMON STOCK 345370860 7626 588900 SH SOLE 588900 0 0 D GOLDCORP INC NEW CAD NPV CL A COMMON STOCK 380956409 13895 378600 SH SOLE 378600 0 0 D GOLDMAN SACHS GROUP INC COM ST COMMON STOCK 38141G104 43804 343400 SH SOLE 343400 0 0 D GOLDMAN SACHS GROUP INC COM ST OPTIONS - PUTS 38141G104 12756 100000 SH PUT SOLE 100000 0 0 D GREEN MOUNTAIN COFFE E ROASTER COMMON STOCK 393122106 60464 1462600 SH SOLE 1462600 0 0 D GREEN MOUNTAIN COFFE E ROASTER OPTIONS - CALLS 393122106 127758 3090400 SH CALL SOLE 3090400 0 0 D GREEN MOUNTAIN COFFE E ROASTER OPTIONS - PUTS 393122106 67178 1625000 SH PUT SOLE 1625000 0 0 D HARRIS CORP DEL COM STK COMMON STOCK 413875105 16818 343500 SH SOLE 343500 0 0 D HECKMANN CORP COM STK COMMON STOCK 422680108 746 185000 SH SOLE 185000 0 0 D HIGHER ONE HLDGS INC COM STK COMMON STOCK 42983D104 1581 150000 SH SOLE 150000 0 0 D HORNBECK OFFSHORE SERVICES INC COMMON STOCK 440543106 50879 1481626 SH SOLE 1481626 0 0 D JC PENNEY CO INC COM STK COMMON STOCK 708160106 1591 80700 SH SOLE 80700 0 0 D JC PENNEY CO INC COM STK OPTIONS - CALLS 708160106 1971 100000 SH CALL SOLE 100000 0 0 D LAMAR ADVERTISING CO CL A COM COMMON STOCK 512815101 35852 925200 SH SOLE 925200 0 0 D LENDER PRC SR COMMON STOCK 52602E102 24160 981300 SH SOLE 981300 0 0 D LyondellBasell Indus tries NV COMMON STOCK N53745100 69501 1217400 SH SOLE 1217400 0 0 D LyondellBasell Indus tries NV OPTIONS - CALLS N53745100 8564 150000 SH CALL SOLE 150000 0 0 D MACYS INC COM STK COMMON STOCK 55616P104 15612 400100 SH SOLE 400100 0 0 D MELLANOX TECHNOLOGIE S LTD COMMON STOCK M51363113 3503 59000 SH SOLE 59000 0 0 D MGIC INVT CORP COM STK COMMON STOCK 552848103 3977 1495300 SH SOLE 1495300 0 0 D MORGAN STANLEY COM STK COMMON STOCK 617446448 30428 1591400 SH SOLE 1591400 0 0 D NEWMONT MINING CORP COM STK COMMON STOCK 651639106 50863 1095250 SH SOLE 1095250 0 0 D NORFOLK SOUTHN CORP COM STK COMMON STOCK 655844108 21551 348500 SH SOLE 348500 0 0 D OM GROUP INC COM STK COMMON STOCK 670872100 13409 604000 SH SOLE 604000 0 0 D PETROLOGISTICS LP COMMON STOCK 71672U101 20573 1519400 SH SOLE 1519400 0 0 D PHILIP MORRIS INTL COMMON STOCK 718172109 57469 687100 SH SOLE 687100 0 0 D PHILLIPS 66 WI COMMON STOCK 718546104 34437 648537 SH SOLE 648537 0 0 D SENSATA TECHNOLOGIES HOLDINGS COMMON STOCK N7902X106 37631 1158600 SH SOLE 1158600 0 0 D SMITH & WESSON HLDG CORP COM S COMMON STOCK 831756101 4239 502200 SH SOLE 502200 0 0 D SOUTHWEST AIRLINES C O COM STK COMMON STOCK 844741108 18773 1833300 SH SOLE 1833300 0 0 D SPDR GOLD TRUST US ETF'S - US TR 78463V107 103769 640468 SH SOLE 640468 0 0 D SPDR GOLD TRUST OPTIONS - PUTS 78463V107 32404 200000 SH PUT SOLE 200000 0 0 D TIMKEN CO COM STK COMMON STOCK 887389104 7983 166900 SH SOLE 166900 0 0 D TJX COS INC NEW COM STK COMMON STOCK 872540109 49993 1177700 SH SOLE 1177700 0 0 D TJX COS INC NEW COM STK OPTIONS - CALLS 872540109 4245 100000 SH CALL SOLE 100000 0 0 D TRANSOCEAN LTD COMMON STOCK H8817H100 13096 293300 SH SOLE 293300 0 0 D VERA BRADLEY COMMON STOCK 92335C106 2510 100000 SH SOLE 100000 0 0 D WALGREEN CO COM STK COMMON STOCK 931422109 59508 1607900 SH SOLE 1607900 0 0 D WELLS FARGO COMPANY COMMON STOCK 949746101 124171 3632849 SH SOLE 3632849 0 0 D WEST MARINE INC COM STK COMMON STOCK 954235107 1056 98200 SH SOLE 98200 0 0 D WESTPORT INNOVATIONS INC COM COMMON STOCK 960908309 3005 112500 SH SOLE 112500 0 0 D XYLEM INC COM STK COMMON STOCK 98419M100 10507 387700 SH SOLE 387700 0 0 S REPORT SUMMARY 78 DATA RECORDS 2742930 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED