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
ALTISOURCE ASSET MGMT CORP COM 02153X108 245 459 SH   DFND 1 459 0 0
ALTISOURCE ASSET MGMT CORP COM 02153X108 248 466 SH   SOLE   466 0 0
ALTISOURCE RESIDENTIAL CORP CL B 02153W100 8,811 383,414 SH   DFND 1 383,414 0 0
ALTISOURCE RESIDENTIAL CORP CL B 02153W100 8,992 391,276 SH   SOLE   391,276 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 9,875 203,058 SH   DFND 1 203,058 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 10,074 207,160 SH   SOLE   207,160 0 0
AMERICAN INTL GROUP INC *W EXP 1/19/202 026874156 649 34,254 SH   DFND 1 34,254 0 0
AMERICAN INTL GROUP INC *W EXP 1/19/202 026874156 662 34,946 SH   SOLE   34,946 0 0
AMERICAN RLTY CAP PPTYS INC COM 02917T104 15,451 1,266,516 SH   DFND 1 1,266,516 0 0
AMERICAN RLTY CAP PPTYS INC COM 02917T104 15,767 1,292,339 SH   SOLE   1,292,339 0 0
AVIS BUDGET GROUP COM 053774105 14,658 508,426 SH   DFND 1 508,426 0 0
AVIS BUDGET GROUP COM 053774105 14,956 518,771 SH   SOLE   518,771 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 7,329 64,570 SH   DFND 1 64,570 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 7,477 65,874 SH   SOLE   65,874 0 0
CBS CORP NEW CL B 124857202 7,219 130,867 SH   DFND 1 130,867 0 0
CBS CORP NEW CL B 124857202 7,364 133,511 SH   SOLE   133,511 0 0
CHARTER COMMUNICATIONS INC D CL A NEW 16117M305 12,088 89,698 SH   DFND 1 89,698 0 0
CHARTER COMMUNICATIONS INC D CL A NEW 16117M305 12,334 91,527 SH   SOLE   91,527 0 0
CHEMED CORP NEW COM 16359R103 5,550 77,626 SH   DFND 1 77,626 0 0
CHEMED CORP NEW COM 16359R103 5,662 79,194 SH   SOLE   79,194 0 0
DAVITA HEALTHCARE PARTNERS I COM 23918K108 5,569 97,876 SH   DFND 1 97,876 0 0
DAVITA HEALTHCARE PARTNERS I COM 23918K108 5,682 99,854 SH   SOLE   99,854 0 0
E HOUSE CHINA HLDGS LTD ADR 26852W103 9,544 1,040,745 SH   DFND 1 1,040,745 0 0
E HOUSE CHINA HLDGS LTD ADR 26852W103 9,745 1,062,734 SH   SOLE   1,062,734 0 0
ENVISION HEALTHCARE HLDGS IN COM 29413U103 10,572 406,150 SH   DFND 1 406,150 0 0
ENVISION HEALTHCARE HLDGS IN COM 29413U103 10,786 414,384 SH   SOLE   414,384 0 0
EZCHIP SEMICONDUCTOR LIMITED ORD M4146Y108 1,797 72,942 SH   DFND 1 72,942 0 0
EZCHIP SEMICONDUCTOR LIMITED ORD M4146Y108 1,835 74,484 SH   SOLE   74,484 0 0
FLEETCOR TECHNOLOGIES INC COM 339041105 12,589 114,280 SH   DFND 1 114,280 0 0
FLEETCOR TECHNOLOGIES INC COM 339041105 12,846 116,610 SH   SOLE   116,610 0 0
FUSION-IO INC COM 36112J107 3,460 258,392 SH   DFND 1 258,392 0 0
FUSION-IO INC COM 36112J107 3,530 263,611 SH   SOLE   263,611 0 0
GENPACT LIMITED SHS G3922B107 12,447 659,251 SH   DFND 1 659,251 0 0
GENPACT LIMITED SHS G3922B107 12,700 672,670 SH   SOLE   672,670 0 0
GRACE W R & CO DEL NEW COM 38388F108 3,193 36,531 SH   DFND 1 36,531 0 0
GRACE W R & CO DEL NEW COM 38388F108 3,260 37,299 SH   SOLE   37,299 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 12,467 157,110 SH   DFND 1 157,110 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 12,719 160,288 SH   SOLE   160,288 0 0
LIN MEDIA LLC CL A COM 532771102 5,255 258,978 SH   DFND 1 258,978 0 0
LIN MEDIA LLC CL A COM 532771102 5,365 264,416 SH   SOLE   264,416 0 0
LORAL SPACE & COMMUNICATNS I COM 543881106 1,995 29,448 SH   DFND 1 29,448 0 0
LORAL SPACE & COMMUNICATNS I COM 543881106 2,035 30,052 SH   SOLE   30,052 0 0
MASTERCARD INC CL A 57636Q104 9,972 14,822 SH   DFND 1 14,822 0 0
MASTERCARD INC CL A 57636Q104 10,174 15,123 SH   SOLE   15,123 0 0
NEWCASTLE INVT CORP COM 65105M108 12,053 2,144,589 SH   DFND 1 2,144,589 0 0
NEWCASTLE INVT CORP COM 65105M108 12,297 2,188,147 SH   SOLE   2,188,147 0 0
OCWEN FINL CORP COM NEW 675746309 12,350 221,442 SH   DFND 1 221,442 0 0
OCWEN FINL CORP COM NEW 675746309 12,599 225,915 SH   SOLE   225,915 0 0
QIWI PLC SPON ADR REP B 74735M108 7,671 245,403 SH   DFND 1 245,403 0 0
QIWI PLC SPON ADR REP B 74735M108 7,827 250,388 SH   SOLE   250,388 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 4,788 138,730 SH   DFND 1 138,730 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 4,885 141,541 SH   SOLE   141,541 0 0
SEALED AIR CORP NEW COM 81211K100 1,345 49,485 SH   DFND 1 49,485 0 0
SEALED AIR CORP NEW COM 81211K100 1,374 50,535 SH   SOLE   50,535 0 0
SHUTTERSTOCK INC COM 825690100 5,259 72,320 SH   DFND 1 72,320 0 0
SHUTTERSTOCK INC COM 825690100 5,365 73,780 SH   SOLE   73,780 0 0
SOLARCITY CORP COM 83416T100 8,508 245,900 SH   DFND 1 245,900 0 0
SOLARCITY CORP COM 83416T100 8,688 251,100 SH   SOLE   251,100 0 0
SPECTRUM BRANDS HLDGS INC COM 84763R101 9,430 143,230 SH   DFND 1 143,230 0 0
SPECTRUM BRANDS HLDGS INC COM 84763R101 9,621 146,125 SH   SOLE   146,125 0 0
TATA MTRS LTD SPONSORED ADR 876568502 6,348 238,479 SH   DFND 1 238,479 0 0
TATA MTRS LTD SPONSORED ADR 876568502 6,477 243,303 SH   SOLE   243,303 0 0
TWENTY FIRST CENTY FOX INC CL A 90130A101 11,189 333,899 SH   DFND 1 333,899 0 0
TWENTY FIRST CENTY FOX INC CL A 90130A101 11,417 340,701 SH   SOLE   340,701 0 0
ULTA SALON COSMETICS & FRAG I COM 90384S303 7,241 60,615 SH   DFND 1 60,615 0 0
ULTA SALON COSMETICS & FRAG I COM 90384S303 7,394 61,895 SH   SOLE   61,895 0 0
URS CORP NEW COM 903236107 4,627 86,084 SH   DFND 1 86,084 0 0
URS CORP NEW COM 903236107 4,724 87,891 SH   SOLE   87,891 0 0
WESTLAKE CHEM CORP COM 960413102 7,278 69,541 SH   DFND 1 69,541 0 0
WESTLAKE CHEM CORP COM 960413102 7,425 70,946 SH   SOLE   70,946 0 0