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
AMERICAN EXPRESS CO. CMN Common Stock 025816109 22,006 242,542 SH   SOLE   0 0 0
CABELA'S INCORPORATED CMN CLASS A Common Stock 126804301 9,628 144,429 SH   SOLE   0 0 0
CBS CORPORATION CMN CLASS B Common Stock 124857202 16,663 261,425 SH   SOLE   0 0 0
DOLLAR GENERAL CORPORATION CMN Common Stock 256677105 8,205 136,032 SH   SOLE   0 0 0
GRAHAM HOLDINGS CO CMN-CSFA Common Stock 384637104 9,771 14,731 SH   SOLE   0 0 0
INTUIT INC CMN Common Stock 461202103 11,843 155,170 SH   SOLE   0 0 0
KRAFT FOODS GROUP, INC. CMN Common Stock 50076Q106 10,956 203,234 SH   SOLE   0 0 0
KRISPY KREME DOUGHNUTS INC CMN Common Stock 501014104 403 20,867 SH   SOLE   0 0 0
MARRIOTT INTERNATIONAL, INC. CMN CLASS A Common Stock 571903202 15,679 317,696 SH   SOLE   0 0 0
MASTERCARD INCORPORATED CMN CLASS A Common Stock 57636Q104 6,213 7,437 SH   SOLE   0 0 0
MICROSOFT CORPORATION CMN Common Stock 594918104 9,628 257,363 SH   SOLE   0 0 0
MOTOROLA SOLUTIONS INC CMN Common Stock 620076307 10,585 156,810 SH   SOLE   0 0 0
N V R INC CMN Common Stock 62944T105 13,973 13,619 SH   SOLE   0 0 0
SIRIUS XM HOLDINGS INC CMN Common Stock 82968B103 9,659 2,767,660 SH   SOLE   0 0 0
THE HOWARD HUGHES CORP CMN Common Stock 44267D107 20,847 173,580 SH   SOLE   0 0 0
TWENTY-FIRST CENTURY FOX, INC. CMN CLASS A Common Stock 90130A101 14,129 401,746 SH   SOLE   0 0 0
U.S. BANCORP CMN Common Stock 902973304 14,966 370,435 SH   SOLE   0 0 0
VIVUS INC CMN Common Stock 928551100 6,267 690,197 SH   SOLE   0 0 0
WELLS FARGO & CO (NEW) CMN Common Stock 949746101 20,733 456,672 SH   SOLE   0 0 0
WILLIS GROUP HOLDINGS PLC CMN Common Stock G96666105 7,253 161,865 SH   SOLE   0 0 0