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
Coach, Inc. COM 189754104 10,863 218,753 SH   DFND 1 218,753 0 0
Coach, Inc. COM 189754104 18,255 367,608 SH   DFND 1, 2 367,608 0 0
Intel Corporation COM 458140100 35,082 1,359,239 SH   DFND 1 1,359,239 0 0
Intel Corporation COM 458140100 56,215 2,178,026 SH   DFND 1, 2 2,178,026 0 0
Merck & Co., Inc. COM 58933Y105 29,545 520,434 SH   DFND 1 520,434 0 0
Merck & Co., Inc. COM 58933Y105 52,483 924,480 SH   DFND 1, 2 924,480 0 0
Microsoft Corporation COM 594918104 27,431 669,214 SH   DFND 1 669,214 0 0
Microsoft Corporation COM 594918104 49,801 1,214,957 SH   DFND 1, 2 1,214,957 0 0
Northeast Bancorp COM NEW 663904209 3,342 357,041 SH   DFND 1 357,041 0 0
The Procter & Gamble Company COM 742718109 2,748 34,090 SH   DFND 1 34,090 0 0
Safety Insurance Group, Inc. COM 78648T100 26,315 488,668 SH   DFND 1 488,668 0 0
Safety Insurance Group, Inc. COM 78648T100 51,486 956,097 SH   DFND 1, 2 956,097 0 0
Target Corporation COM 87612E106 31,058 513,275 SH   DFND 1 513,275 0 0
Target Corporation COM 87612E106 51,025 843,250 SH   DFND 1, 2 843,250 0 0
Verisk Analytics, Inc. Class A CL A 92345Y106 13,800 230,150 SH   DFND 1 230,150 0 0
Exxon Mobil Corporation COM 30231G102 23,517 240,757 SH   DFND 1 240,757 0 0
Exxon Mobil Corporation COM 30231G102 15,905 162,824 SH   DFND 1, 2 162,824 0 0
Enterprise Products Partners L.P. COM 293792107 7,981 115,071 SH   DFND 1 115,071 0 0
Enterprise Products Partners L.P. COM 293792107 7,546 108,794 SH   DFND 1 108,794 0 0
Kinder Morgan Energy Partners, L.P. UT LTD PARTNER 494550106 10,370 140,224 SH   DFND 1 140,224 0 0
Kinder Morgan Energy Partners, L.P. UT LTD PARTNER 494550106 18,355 248,206 SH   DFND 1, 2 248,206 0 0
Plains All American Pipeline, L.P. UNIT LTD PARTN 726503105 8,858 160,699 SH   DFND 1 160,699 0 0
Plains All American Pipeline, L.P. UNIT LTD PARTN 726503105 14,201 257,645 SH   DFND 1, 2 257,645 0 0
Partnerre LTD COM G6852T105 19,647 191,756 SH   DFND 1 191,756 0 0
Partnerre LTD COM G6852T105 24,533 240,906 SH   DFND 1, 2 240,906 0 0