Holdings
| AIG AMERICAN INTERNATIONAL GROUP | $4.07B | 41.9% | 79,752,186 | −5,179,644 | −6.1% | Reduced |
| BAC BANK OF AMERICA CORP | $1.55B | 16.0% | 99,742,115 | +45,400 | +0.0% | Added |
| SHLDEUR SEARS HOLDINGS CORP | $1.05B | 10.8% | 21,331,673 | +573,500 | +2.8% | Added |
| FNMA V8.25 PERP S FANNIE MAE | $516.7M | 5.3% | 59,049,119 | +59,049,119 | — | New |
| LEUCADIA NATL CORP | $508.9M | 5.2% | 17,957,927 | −646,839 | −3.5% | Reduced |
| AMERICAN INTL GROUP INC | $491.1M | 5.1% | 24,250,009 | −11,429 | −0.0% | Reduced |
| JOE ST JOE CO | $477.1M | 4.9% | 24,863,504 | −147,129 | −0.6% | Reduced |
| FMCC V8.375 PERP Z FREDDIE MAC | $357.9M | 3.7% | 39,901,900 | +39,901,900 | — | New |
| FNMA F PERP O FANNIE MAE | $90.0M | 0.9% | 6,339,843 | +6,339,843 | — | New |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | $84.2M | 0.9% | 710,225 | −5,900 | −0.8% | Reduced |
| FNMA FANNIE MAE | $78.2M | 0.8% | 25,990,900 | +25,990,900 | — | New |
| BANK OF AMERICA CORPORATION | $64.1M | 0.7% | 9,904,428 | — | — | Held |
| FMCC FREDDIE MAC | $56.2M | 0.6% | 19,386,300 | +19,386,300 | — | New |
| FMCC 5.57 PERP V FREDDIE MAC | $40.8M | 0.4% | 5,799,175 | +5,799,175 | — | New |
| FMCC 6.55 PERP Y FREDDIE MAC | $29.8M | 0.3% | 4,196,108 | +4,196,108 | — | New |
| CHKEUR CHESAPEAKE ENERGY CORP | $25.2M | 0.3% | 928,000 | +133,600 | +16.8% | Added |
| FNMA F PERP P FANNIE MAE | $25.0M | 0.3% | 3,672,127 | +3,672,127 | — | New |
| FMCC 0 PERP M FREDDIE MAC | $23.0M | 0.2% | 1,699,250 | +1,699,250 | — | New |
| WELLS FARGO & CO NEW | $21.3M | 0.2% | 1,346,665 | — | — | Held |
| FMCC F PERP B FREDDIE MAC | $18.6M | 0.2% | 1,377,829 | +1,377,829 | — | New |
| FMCC 5.1 PERP H FREDDIE MAC | $17.9M | 0.2% | 1,339,572 | +1,339,572 | — | New |
| GNW GENWORTH FINANCIAL INC | $16.6M | 0.2% | 1,071,500 | — | — | Held |
| HARTFORD FINL SVCS GROUP INC | $15.2M | 0.2% | 553,900 | — | — | Held |
| JPMORGAN CHASE & CO | $14.6M | 0.2% | 753,300 | — | — | Held |
| FNMA 7.625 PERP R FANNIE MAE | $11.8M | 0.1% | 1,500,000 | +1,500,000 | — | New |
| FNMA 6.75 PERP Q FANNIE MAE | $11.1M | 0.1% | 1,580,000 | +1,580,000 | — | New |
| LNC/WS LINCOLN NATIONAL CORP-CW19 | $8.7M | 0.1% | 205,810 | — | — | Held |
| FMCC V0 PERP L FREDDIE MAC | $7.3M | 0.1% | 546,542 | +546,542 | — | New |
| WFC WELLS FARGO & CO | $6.8M | 0.1% | 149,600 | — | — | Held |
| FNMA V0 PERP +G FANNIE MAE | $3.7M | 0.0% | 269,500 | +269,500 | — | New |
| FMCC 5.9 PERP U FREDDIE MAC | $3.6M | 0.0% | 517,900 | +517,900 | — | New |
| FMCC 5.66 PERP W FREDDIE MAC | $3.1M | 0.0% | 447,940 | +447,940 | — | New |
| C CITIGROUP INC | $2.8M | 0.0% | 54,560 | — | — | Held |
| FMCC 5 PERP F FREDDIE MAC | $2.8M | 0.0% | 203,000 | +203,000 | — | New |
| LNC LINCOLN NATIONAL CORP | $2.3M | 0.0% | 44,400 | — | — | Held |
| FMCC 5.81 PERP O FREDDIE MAC | $2.1M | 0.0% | 157,500 | +157,500 | — | New |
| HIG HARTFORD INSURANCE GROUP INC | $1.9M | 0.0% | 52,000 | — | — | Held |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | $1.1M | 0.0% | 6 | — | — | Held |
| FMCC F PERP S FREDDIE MAC | $804K | 0.0% | 60,900 | +60,900 | — | New |
| FMCC 6 PERP P FREDDIE MAC | $594K | 0.0% | 45,000 | +45,000 | — | New |
| FMCC 6.02 PERP X FREDDIE MAC | $333K | 0.0% | 45,500 | +45,500 | — | New |
| FMCC 5.79 PERP +++K FREDDIE MAC | $132K | 0.0% | 9,400 | +9,400 | — | New |
| FMCC 6.42 PERP T FREDDIE MAC | $127K | 0.0% | 9,200 | +9,200 | — | New |
| FMCC 5.7 PERP R FREDDIE MAC | $107K | 0.0% | 8,400 | +8,400 | — | New |
| FNMA 5.375 PERP +I FANNIE MAE | $62K | 0.0% | 4,400 | +4,400 | — | New |
Holdings reflect long positions disclosed in 13F filings only and exclude short positions, cash, and other non-13F assets. Holdings data sourced from SEC EDGAR. Not investment advice. Full disclaimer.