Name,Ticker,Title of class,Class,Change,CUSIP,Value,Shares or principal amount,Weighting FedEx Corporation,FDX,,Sell,31428X106,1915841000.0,13325734.0,9.379 Chesapeake Energy Corporation,CHK,,Sell,165167107,1863884000.0,68676612.0,9.124 Loews Corporation,L,,Sell,540424108,1687666000.0,34984792.0,8.262 Level 3 Communications Inc.,LVLT,,Sell,52729N308,1608147000.0,48481997.0,7.872 DIRECTV,A309PS,,Sell,25490A309,1499318000.0,21710357.0,7.34 Bank of New York Mellon Corpor,BK,,Sell,064058100,1375575000.0,39369655.0,6.734 Mondelez International Inc,MDLZ,,Sell,609207105,1239973000.0,35126712.0,6.07 Murphy Oil Corporation,MUR,,Sell,626717102,972413000.0,14987872.0,4.76 The Travelers Companies Inc.,TRV,,Sell,89417E109,871263000.0,9622959.0,4.265 Aon PLC,AON,,Sell,G0408V102,867349000.0,10339122.0,4.246 CONSOL Energy Inc.,CNX,,Buy,20854P109,863177000.0,22691279.0,4.226 Everest Re Group Ltd.,RE,,Buy,G3223R108,648146000.0,4158249.0,3.173 Royal Philips ADR,PHG,,Sell,500472303,560545000.0,15162171.0,2.744 Texas Industries Inc.,TXI,,Sell,882491103,554378000.0,8060157.0,2.714 Abbott Laboratories,ABT,,Sell,002824100,515360000.0,13445344.0,2.523 Berkshire Hathaway Inc. Class,BRKB,,Sell,084670702,502701000.0,4240058.0,2.461 News Corporation - Class B,NWS,,Buy,65249B208,450848000.0,25285898.0,2.207 Graham Holdings Company,GHC,,New,384637104,360322000.0,543210.0,1.764 tw telecom inc.,TWTC,,Sell,87311L104,335364000.0,11006337.0,1.642 Vulcan Materials Company,VMC,,Sell,929160109,296074000.0,4982724.0,1.449 Vail Resorts Inc.,MTN,,Sell,91879Q109,192353000.0,2556858.0,0.942 Scripps Networks Interactive,SNI,, ,811065101,192093000.0,2223049.0,0.94 Empire State Realty Trust Inc.,ESRT,,New,292104106,189961000.0,12415753.0,0.93 News Corporation - Class A,NWSA,,Buy,65249B109,138174000.0,7667791.0,0.676 CNH Industrial NV,CNHI,,Sell,N20944109,136901000.0,12061806.0,0.67 Legg Mason Inc.,LM,,Sell,524901105,135566000.0,3117887.0,0.664 Vodafone Group Plc ADR,VOD,,Sell,92857W209,118068000.0,3003503.0,0.578 DineEquity Inc,DIN,,Sell,254423106,109868000.0,1315000.0,0.538 Martin Marietta Materials Inc.,MLM,,Sell,573284106,103918000.0,1039807.0,0.509 Wendy's Company,WEN,,Sell,95058W100,96397000.0,11054728.0,0.472 Vornado Realty Trust,VNO,, ,929042109,20617000.0,232202.0,0.101 Rayonier Inc.,RYN,,New,754907103,3896000.0,92553.0,0.019 Berkshire Hathaway Inc. Class,BRKA,, ,084670108,1245000.0,7.0,0.006 Mosaic Company,MOS,,Exit,61945C103,0.0,-539600.0,-0.116 The Washington Post Company,WPO,,Exit,939640108,0.0,-543610.0,-1.658 CEMEX S.A.B. de C.V. ADR,CX,,Exit,151290889,0.0,-35375663.0,-1.973