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
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
BED BATH & BEYOND INC COM 075896100 31,234 647,338 SH   SOLE 647,338 0 0
CARDINAL HEALTH INC COM 14149Y108 62,802 703,508 SH   SOLE 703,508 0 0
COMCAST CORP NEW CL A 20030n101 64,127 1,136,391 SH   SOLE 1,136,391 0 0
CORE LABORATORIES N V COM N22717107 33,558 308,606 SH   SOLE 308,606 0 0
ECOLAB INC COM 278865100 100,646 879,925 SH   SOLE 879,925 0 0
EXPEDITORS INTL WASH INC COM 302130109 82,294 1,824,703 SH   SOLE 1,824,703 0 0
FASTENAL CO COM 311900104 85,570 2,096,278 SH   SOLE 2,096,278 0 0
NEKTAR THERAPEUTICS COM 640268108 270 16,000 SH   SOLE 16,000 0 0
NIKE INC CL B 654106103 78,006 1,248,090 SH   SOLE 1,248,090 0 0
PAYCHEX INC COM 704326107 109,480 2,069,949 SH   SOLE 2,069,949 0 0
PEPCO HOLDINGS INC COM 713291102 221 8,500 SH   SOLE 8,500 0 0
PRECISION CASTPARTS CORP COM 740189105 406 1,750 SH   SOLE 1,750 0 0
PROGRESSIVE CORP OHIO COM 743315103 110,290 3,468,236 SH   SOLE 3,468,236 0 0
PROSHARES TR PSHS ULTSH 20YRS 74347b201 822 18,650 SH   SOLE 18,650 0 0
PROSHARES TR SHRT 20+YR TRE 74347X849 260 10,500 SH   SOLE 10,500 0 0
RYDEX ETF TRUST GUG S&P500 EQ WT 78355w106 295 3,850 SH   SOLE 3,850 0 0
STERICYCLE INC COM 858912108 21,999 182,410 SH   SOLE 182,410 0 0
UNION PAC CORP COM 907818108 48,821 624,315 SH   SOLE 624,315 0 0
US BANCORP DEL COM NEW 902973304 412 9,649 SH   SOLE 9,649 0 0
WATERS CORP COM 941848103 21,039 156,333 SH   SOLE 156,333 0 0
WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 1,229 60,000 SH   SOLE 60,000 0 0
WELLS FARGO & CO NEW COM 949746101 106,417 1,957,638 SH   SOLE 1,957,638 0 0