Chapter IV Investors

Chapter IV Investors as of March 31, 2012

Portfolio Holdings for Chapter IV Investors

Chapter IV Investors holds 0 positions in its portfolio as reported in the March 2012 quarterly 13F filing

                COLUMN 1               COLUMN 2  COLUMN 3  COLUMN 4           COLUMN 5           COLUMN 6    COLUMN 7        COLUMN 8
---------------------  --------  --------  ---------  -------------------------  ----------  --------  ---------------------
                       TITLE OF             VALUE     SHARES OR                  INVESTMENT  OTHER        VOTING AUTHORITY
NAME OF ISSUER           CLASS    CUSIP    (X $1000)   PRN AMT  SH/PRN PUT/CALL  DISCRETION  MANAGERS  SOLE      SHARED NONE
---------------------  --------  --------  ---------  --------- ------ --------  ----------  --------  --------- ------ ----
{S}                    {C}       {C}       {C}        {C}       {C}    {C}       {C}         {C}       {C}       {C}    {C}
Cabot Oil and Gas Corp  CL A	 127097103 $   7,769  249,256 sh		 SOLE		       249,256
Clear Channel Outdoor  CL A	 18451C109 $   7,980  1,000,000 sh		 SOLE		       1,000,000
EQT Corporation COM	 26884L109 $   9,334  193,605	Sh		 SOLE		       193,605
Lamar Advertising      CL A      512815101 $  31,963    986,203 Sh               SOLE                    986,203
Martin Marietta Matls  COM       573284106 $  42,000    490,488 Sh               SOLE                    490,488
Packaging Corp of America        COM       695156109 $  14,276  482,446 Sh               SOLE                  482,446
Range Resources Corp  COM       75281A109 $  25,582    440,000 Sh               SOLE                    440,000
Rock-Tenn Company      CL A      772739207 $  50,945    754,069 Sh               SOLE                    754,069
Scripps Networks Interactive      CL A      811065101 $   8,554    175,691 Sh               SOLE                    175,691
Vulcan Matls Co        COM       929160109 $   9,311    217,905 Sh               SOLE                    217,905

                                           ---------
Total Value:                               $ 207,714
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