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
Affiliated Managers Group Com 008252108 25,571 175,990 SH   SOLE N/A 154,514 0 21,476
American Cap Ltd Com 02503Y103 1,281 71,493 SH   SOLE N/A 56,961 0 14,532
American Tower Corp New Com 03027X100 31,202 295,246 SH   SOLE N/A 260,902 0 34,344
AmerisourceBergen Corp Com 03073E105 9,539 121,996 SH   SOLE N/A 108,891 0 13,105
Ares Cap Corp Com 04010L103 30,809 1,868,336 SH   SOLE N/A 1,658,926 0 209,410
AutoNation Inc. Com 05329W102 18,492 380,106 SH   SOLE N/A 333,308 0 46,798
Berkshire Hathaway Inc Del Cl B New 084670702 28,542 175,128 SH   SOLE N/A 155,912 0 19,216
Brookfield Asset Mgmt Inc Cl A Ltd Vt Sh 112585104 39,427 1,194,408 SH   SOLE N/A 1,055,596 0 138,812
Care Cap Pptys Inc Com 141624106 2,345 93,782 SH   SOLE N/A 83,291 0 10,491
Discover Finl Svcs Com 254709108 29,420 408,106 SH   SOLE N/A 360,166 0 47,940
Discovery Communicatns New Com Ser C 25470F302 16,831 628,499 SH   SOLE N/A 552,617 0 75,882
Express Scripts Hldg Co Com 30219G108 23,397 340,124 SH   SOLE N/A 299,898 0 40,226
Fluor Corp New Com 343412102 17,527 333,714 SH   SOLE N/A 294,390 0 39,324
Harman Intl Inds Inc Com 413086109 22,806 205,162 SH   SOLE N/A 180,160 0 25,002
Kinder Morgan Inc Del Com 49456B101 23,542 1,136,758 SH   SOLE N/A 1,006,094 0 130,664
Kroger Co Com 501044101 21,324 617,894 SH   SOLE N/A 549,872 0 68,022
Level 3 Communications Inc Com New 52729N308 33,243 589,841 SH   SOLE N/A 519,163 0 70,678
Omega Healthcare Invs Inc Com 681936100 419 13,400 SH   SOLE N/A 11,040 0 2,360
Penske Automotive Grp Inc Com 70959W103 8,232 158,788 SH   SOLE N/A 139,840 0 18,948
Price T Rowe Group Inc Com 74144T108 3,226 42,870 SH   SOLE N/A 39,408 0 3,462
Qualcomm Inc Com 747525103 19,490 298,919 SH   SOLE N/A 264,937 0 33,982
Radian Group Inc Com 750236101 42,574 2,367,854 SH   SOLE N/A 2,088,954 0 278,900
Ryman Hospitality Pptys Inc Com 78377T107 33,467 531,130 SH   SOLE N/A 469,579 0 61,551
Taiwan Semiconductor Mfg Ltd Sponsored ADR 874039100 26,807 932,406 SH   SOLE N/A 824,112 0 108,294
U S Silica Hldgs Inc Com 90346E103 23,054 406,741 SH   SOLE N/A 356,823 0 49,918
Ventas Inc Com 92276F100 16,581 265,215 SH   SOLE N/A 235,715 0 29,500