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 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
CIMPRESS N V SHS EURO N20146101 118,346 1,406,200 SH   DFND 1 1,406,200 0 0
COLLIERS INTL GROUP INC SUB VTG SHS 194693107 93,849 2,453,036 SH   DFND 1 2,453,036 0 0
ECHO GLOBAL LOGISTICS INC COM 27875T101 35,926 1,100,000 SH   DFND 1 1,100,000 0 0
FIRSTSERVICE CORP NEW SUB VTG SH 33767E103 68,168 2,453,036 SH   DFND 1 2,453,036 0 0
INSTALLED BLDG PRODS INC COM 45780R101 41,875 1,710,600 SH   DFND 1 1,710,600 0 0
SPARK NETWORKS INC COM 84651P100 6,677 2,175,000 SH   DFND 1 2,175,000 0 0
STOCK BLDG SUPPLY HLDGS INC COM 86101X104 11,730 600,000 SH   DFND 1 600,000 0 0
WORLD ACCEP CORP DEL COM 981419104 19,991 325,000 SH   DFND 1 325,000 0 0
XPO LOGISTICS INC COM 983793100 110,393 2,443,400 SH   DFND 1 2,443,400 0 0