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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
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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
CROSS TIMBERS RTY TR TR UNIT 22757R109 8,361,638 924,960 SH SOLE 924,960 0 0
ISHARES TR 20 YR TR BD ETF 464287432 19,183,080 222,800 SH Call SOLE 222,800 0 0
PERMIAN BASIN RTY TR UNIT BEN INT 714236106 155,676,359 6,217,107 SH SOLE 6,217,107 0 0
SPDR SERIES TRUST SP O&G EXPL PRO 78468R556 27,766,800 180,000 SH Put SOLE 180,000 0 0
STATE STR SPDR S&P 500 ETF T TR UNIT 78462F103 13,815,245 18,500 SH Put SOLE 18,500 0 0
TEXAS PACIFIC LAND CORPORATI COM 88262P102 464,817,006 1,062,099 SH SOLE 1,062,099 0 0
TEXAS PACIFIC LAND CORPORATI COM 88262P102 210,154,728 480,200 SH Put SOLE 480,200 0 0
UNITED STS OIL FD LP UNITS 91232N207 15,966,000 150,000 SH Put SOLE 150,000 0 0
UNITED STS OIL FD LP UNITS 91232N207 5,322,000 50,000 SH Call SOLE 50,000 0 0