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
ALLISON TRANSMISSION HLDG INC. CMN Common Stock 01973R101 10,080 353,800 SH   SOLE   0 0 0
AMERICAN EXPRESS CO. CMN Common Stock 025816109 18,612 212,613 SH   SOLE   0 0 0
CABELA'S INCORPORATED CMN CLASS A Common Stock 126804301 18,607 315,900 SH   SOLE   0 0 0
CBS CORPORATION CMN CLASS B Common Stock 124857202 14,327 267,790 SH   SOLE   0 0 0
DISCOVERY COMMUNICATIONS, INC. CMN SERIES A Common Stock 25470F104 13,776 364,445 SH   SOLE   0 0 0
FIDELITY NATIONAL FINANCIAL, INC. CMN Common Stock 31620R402 3,860 280,527 SH   SOLE   0 0 0
THE HOWARD HUGHES CORP CMN Common Stock 44267D107 21,559 143,725 SH   SOLE   0 0 0
HERTZ GLOBAL HOLDINGS, INC. CMN Common Stock 42805T105 7,709 303,640 SH   SOLE   0 0 0
MARRIOTT INTERNATIONAL, INC. CMN CLASS A Common Stock 571903202 8,530 122,030 SH   SOLE   0 0 0
MICROSOFT CORPORATION CMN Common Stock 594918104 28,310 610,648 SH   SOLE   0 0 0
MOTOROLA SOLUTIONS INC CMN Common Stock 620076307 7,527 118,950 SH   SOLE   0 0 0
VAIL RESORTS, INC. CMN Common Stock 91879Q109 11,330 130,595 SH   SOLE   0 0 0
N V R INC CMN Common Stock 62944T105 14,816 13,111 SH   SOLE   0 0 0
PROGRESSIVE CORPORATION (THE) CMN Common Stock 743315103 15,246 603,079 SH   SOLE   0 0 0
TESSERA TECHNOLOGIES, INC. CMN Common Stock 88164L100 7,393 278,155 SH   SOLE   0 0 0
WELLS FARGO & CO (NEW) CMN Common Stock 949746101 23,634 455,638 SH   SOLE   0 0 0
WELLPOINT, INC. CMN Common Stock 94973V107 15,869 132,665 SH   SOLE   0 0 0