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

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COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
AIR PRODS & CHEMS INCCOM009158106810,0537,601,140SH OTR207,601,1400
AIR PRODS & CHEMS INCCOM009158106963,5449,041,423SH SOLE 9,041,42300
AIR PRODS & CHEMS INCCOM009158106415,9133,902,721SH OTR103,902,7210
BEAM INCCOM073730103471,7787,297,424SH OTR107,297,4240
BEAM INCCOM073730103874,14013,521,121SH SOLE 13,521,12100
BURGER KING WORLDWIDE INCCOM121220107262,51613,448,570SH OTR1013,448,5700
BURGER KING WORLDWIDE INCCOM121220107486,50824,923,550SH SOLE 24,923,55000
CANADIAN PAC RY LTDCOM13645T1001,853,99315,036,442SH SOLE 15,036,44200
CANADIAN PAC RY LTDCOM13645T100997,3438,088,750SH OTR108,088,7500
GENERAL GROWTH PPTYS INC NEWCOM370023103447,49923,198,511SH SOLE 23,198,51100
GENERAL GROWTH PPTYS INC NEWCOM370023103240,79112,482,671SH OTR1012,482,6710
HOWARD HUGHES CORPCOM44267D107194,6191,731,947SH OTR101,731,9470
HOWARD HUGHES CORPCOM44267D107206,3191,836,070SH SOLE 1,836,07000
PROCTER & GAMBLE COCOM7427181091,227,59716,240,200SHCallSOLE 16,240,20000
PROCTER & GAMBLE COCOM74271810955,152729,625SH OTR10729,6250
PROCTER & GAMBLE COCOM742718109105,3931,394,268SH SOLE 1,394,26800
PROCTER & GAMBLE COCOM742718109662,1538,759,800SHCallOTR108,759,8000