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 HLDGS I Common Stock 01973R101 4,700 147,157 SH   SOLE   0 0 0
ANTHEM INC Common Stock 036752103 16,814 108,890 SH   SOLE   0 0 0
BLUEROCK RESIDENT GR REIT IN Common Stock 09627J102 2,133 160,000 SH   SOLE   0 0 0
HILTON WORLDWIDE HLDGS INC Common Stock 43300A104 12,901 435,561 SH   SOLE   0 0 0
HOWARD HUGHES CORP/THE Common Stock 44267D107 17,914 115,557 SH   SOLE   0 0 0
MCGRAW HILL FINL INC Common Stock 580645109 7,904 76,445 SH   SOLE   0 0 0
MICROSOFT CORP Common Stock 594918104 15,829 389,338 SH   SOLE   0 0 0
NVR INC Common Stock 62944T105 14,173 10,667 SH   SOLE   0 0 0
PROGRESSIVE CORP OHIO Common Stock 743315103 12,331 453,339 SH   SOLE   0 0 0
SYNCHRONY FINL Common Stock 87165B103 14,029 462,228 SH   SOLE   0 0 0
TESSERA TECHNOLOGIES INC Common Stock 88164L100 11,279 280,003 SH   SOLE   0 0 0
VAIL RESORTS INC Common Stock 91879Q109 15,628 151,113 SH   SOLE   0 0 0
WELLS FARGO & CO Common Stock 949746101 14,990 275,559 SH   SOLE   0 0 0