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
Expires: July 31, 2015
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
ABRAXAS PETE CORP COM 003830106 584,000 100,000 SH SOLE 100,000 0 0
ANADARKO PETE CORP COM 032511107 1,802,240 22,000 SH SOLE 22,000 0 0
ATP OIL & GAS CORP PREF 00208J702 626,250 6,000 SH SOLE 6,000 0 0
BARRICK GOLD CORP COM 067901108 519,100 10,000 SH SOLE 10,000 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 109,530,211 1,309,700 SH SOLE 1,309,700 0 0
BP PLC SPONSORED ADR 055622104 507,610 11,500 SH SOLE 11,500 0 0
CALLON PETE CO DEL COM 13123X102 621,600 80,000 SH SOLE 80,000 0 0
DEVON ENERGY CORP NEW COM 25179M103 1,468,320 16,000 SH SOLE 16,000 0 0
EL PASO PIPELINE PARTNERS L COM UNIT LPI 283702108 724,600 20,000 SH SOLE 20,000 0 0
ENBRIDGE ENERGY PARTNERS L P COM 29250R106 2,261,700 35,000 SH SOLE 35,000 0 0
ENTERPRISE PRODS PARTNERS LP COM 293792107 3,728,996 86,600 SH SOLE 86,600 0 0
GOLD FIELDS LTD SPONSORED ADR 38059T106 354,438 20,300 SH SOLE 20,300 0 0
GULFPORT ENERGY CORP COM NEW 402635304 578,080 16,000 SH SOLE 16,000 0 0
HYPERDYNAMICS CORP COM 448954107 92,400 20,000 SH SOLE 20,000 0 0
KINROSS GOLD CORP COM 496902404 425,250 27,000 SH SOLE 27,000 0 0
LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 2,940,000 2,000,000 SH SOLE 2,000,000 0 0
MARKET VECTORS ETF TR ETF 57060U100 492,820 8,200 SH SOLE 8,200 0 0
MARKET VECTORS ETF TR JR ETF 57060Y589 490,250 12,500 SH SOLE 12,500 0 0
OCCIDENTAL PETE CORP COM 674599105 757,553 7,250 SH SOLE 7,250 0 0
PAA NAT GAS STORAGE L P COM UNIT LTD 693139107 6,359,425 270,154 SH SOLE 270,154 0 0
PLAINS ALL AMERN PIPELINE LP UNIT LTD PARTN 726503105 32,502,300 510,000 SH SOLE 510,000 0 0
POWERSHARES DB CMDTY IDX TRA UNIT BEN INT 73935S105 512,568 16,800 SH SOLE 16,800 0 0
POWERSHS DB MULTI SECT COMM DB BASE METALS 73936B705 505,494 20,700 SH SOLE 20,700 0 0
POWERSHS DB MULTI SECT COMM PS DB AGRICUL FD 73936B408 503,181 14,700 SH SOLE 14,700 0 0
REGENCY ENERGY PARTNERS L P COM UNITS L P 75885Y107 1,365,500 50,000 SH SOLE 50,000 0 0
TARGA RESOURCES PARTNERS LP COM UNIT 87611X105 1,109,760 32,000 SH SOLE 32,000 0 0
US BANCORP DEL COM NEW 902973304 44,005,950 1,665,000 SH SOLE 1,665,000 0 0
WARREN RES INC COM 93564A100 509,000 100,000 SH SOLE 100,000 0 0
WILLIAMS PARTNERS L P COM UNIT L P 96950F104 1,217,300 3,133 SH SOLE 3,133 0 0
YAMANA GOLD INC COM 98462Y100 492,400 40,000 SH SOLE 40,000 0 0