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
ALLERGAN PLC SHS G0177J108 61,303 196,170 SH   SOLE   192,520 0 3,650
AON PLC SHS CL A G0408V102 61,129 662,933 SH   SOLE   648,593 0 14,340
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 22,002 210,545 SH   SOLE   210,545 0 0
ENDO INTL PLC SHS G30401106 41,931 684,923 SH   SOLE   673,823 0 11,100
LIBERTY GLOBAL PLC SHS CL C G5480U120 220,500 5,408,393 SH   SOLE   5,323,993 0 84,400
LIBERTY GLOBAL PLC LILAC SHS CL C G5480U153 11,773 273,780 SH   SOLE   273,780 0 0
WILLIS GROUP HOLDINGS PUBLIC SHS G96666105 30,890 635,992 SH   SOLE   617,392 0 18,600
CORE LABORATORIES N V COM N22717107 1,087 10,000 SH   SOLE   10,000 0 0
THE ADT CORPORATION COM 00101J106 42,065 1,275,483 SH   SOLE   1,252,648 0 22,835
ACI WORLDWIDE INC COM 004498101 1,984 92,696 SH   SOLE   92,696 0 0
ALLISON TRANSMISSION HLDGS I COM 01973R101 30,975 1,196,422 SH   SOLE   1,164,122 0 32,300
ALPHABET INC CAP STK CL C 02079K107 81,467 107,352 SH   SOLE   105,652 0 1,700
ALPHABET INC CAP STK CL A 02079K305 159 205 SH   SOLE   205 0 0
AMAZON COM INC COM 023135106 338 500 SH   SOLE   500 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 1,875 15,000 SH   SOLE   15,000 0 0
AVON PRODS INC COM 054303102 28,424 7,018,220 SH   SOLE   6,843,220 0 175,000
BERKSHIRE HATHAWAY INC DEL CL A 084670108 100,878 510 SH   SOLE   260 0 250
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 204,337 1,547,537 SH   SOLE   1,520,436 0 27,101
BROWN & BROWN INC COM 115236101 33,652 1,048,360 SH   SOLE   1,020,860 0 27,500
COLFAX CORP COM 194014106 45,651 1,955,069 SH   SOLE   1,912,569 0 42,500
COLUMBIA PIPELINE GROUP INC COM 198280109 245 12,250 SH   SOLE   12,250 0 0
COMCAST CORP NEW CL A 20030N101 367 6,500 SH   SOLE   6,500 0 0
DIAGEO P L C SPON ADR NEW 25243Q205 14,426 132,265 SH   SOLE   132,265 0 0
DISCOVERY COMMUNICATNS NEW COM SER A 25470F104 58,500 2,192,659 SH   SOLE   2,192,659 0 0
DISCOVERY COMMUNICATNS NEW COM SER C 25470F302 21,473 851,409 SH   SOLE   803,409 0 48,000
EOG RES INC COM 26875P101 21,243 300,080 SH   SOLE   300,080 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 16,305 588,000 SH   SOLE   588,000 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 92,520 1,058,456 SH   SOLE   1,039,656 0 18,800
FLIR SYS INC COM 302445101 30,010 1,069,115 SH   SOLE   1,032,115 0 37,000
FOSSIL GROUP INC COM 34988V106 46,203 1,263,758 SH   SOLE   1,232,758 0 31,000
HALLIBURTON CO COM 406216101 9,986 293,367 SH   SOLE   293,367 0 0
ICONIX BRAND GROUP INC COM 451055107 15,219 2,228,265 SH   SOLE   2,172,865 0 55,400
INTELLIGENT SYS CORP NEW COM 45816D100 7,332 2,270,000 SH   SOLE   2,270,000 0 0
INTERVAL LEISURE GROUP INC COM 46113M108 47,850 3,065,336 SH   SOLE   2,990,336 0 75,000
ISHARES TR RUSSELL 3000 ETF 464287689 4,995 41,515 SH   SOLE   41,515 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 86,553 700,037 SH   SOLE   687,137 0 12,900
LIBERTY BROADBAND CORP COM SER A 530307107 20,781 402,351 SH   SOLE   402,351 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 87,798 1,692,987 SH   SOLE   1,662,640 0 30,347
LIBERTY INTERACTIVE CORP QVC GP COM SER A 53071M104 122,442 4,481,769 SH   SOLE   4,406,769 0 75,000
LIBERTY INTERACTIVE CORP LBT VENT COM A 53071M880 42,713 946,856 SH   SOLE   946,856 0 0
LIBERTY MEDIA CORP DELAWARE CL A 531229102 24,316 619,523 SH   SOLE   619,523 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C 531229300 166,680 4,377,106 SH   SOLE   4,304,606 0 72,500
LIVE NATION ENTERTAINMENT IN COM 538034109 3,686 150,000 SH   SOLE   150,000 0 0
MRC GLOBAL INC COM 55345K103 304 23,530 SH   SOLE   23,530 0 0
MASTERCARD INC CL A 57636Q104 38,542 395,874 SH   SOLE   395,874 0 0
MICROSOFT CORP COM 594918104 1,387 25,000 SH   SOLE   25,000 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 159 15,200 SH   SOLE   15,200 0 0
MONSANTO CO NEW COM 61166W101 39,392 399,838 SH   SOLE   399,838 0 0
MOTOROLA SOLUTIONS INC COM NEW 620076307 57,344 837,746 SH   SOLE   821,946 0 15,800
MURPHY USA INC COM 626755102 9,415 155,000 SH   SOLE   155,000 0 0
NATIONAL CINEMEDIA INC COM 635309107 35,766 2,276,632 SH   SOLE   2,276,632 0 0
OMNICOM GROUP INC COM 681919106 21,432 283,273 SH   SOLE   283,273 0 0
ORACLE CORP COM 68389X105 15,617 427,498 SH   SOLE   395,298 0 32,200
PIONEER NAT RES CO COM 723787107 54,208 432,348 SH   SOLE   424,938 0 7,410
PRAXAIR INC COM 74005P104 16,659 162,686 SH   SOLE   162,686 0 0
PRECISION CASTPARTS CORP COM 740189105 99,498 428,851 SH   SOLE   421,051 0 7,800
RANGE RES CORP COM 75281A109 79,378 3,225,425 SH   SOLE   3,174,125 0 51,300
REDWOOD TR INC NOTE 4.625% 4/1 758075AB1 30,732 32,825,000 PRN   SOLE   32,825,000 0 0
REDWOOD TR INC COM 758075402 82,234 6,229,870 SH   SOLE   6,102,470 0 127,400
TEXAS INSTRS INC COM 882508104 55,001 1,003,480 SH   SOLE   978,480 0 25,000
TRANSDIGM GROUP INC COM 893641100 86,144 377,079 SH   SOLE   373,179 0 3,900
TWENTY FIRST CENTY FOX INC CL A 90130A101 45,990 1,693,300 SH   SOLE   1,693,300 0 0
TWENTY FIRST CENTY FOX INC CL B 90130A200 57,278 2,103,476 SH   SOLE   2,038,161 0 65,315
UNITED PARCEL SERVICE INC CL B 911312106 20,173 209,629 SH   SOLE   209,629 0 0
WELLS FARGO & CO NEW COM 949746101 64,496 1,186,467 SH   SOLE   1,167,467 0 19,000
WESCO AIRCRAFT HLDGS INC COM 950814103 38,806 3,241,900 SH   SOLE   3,241,900 0 0
XO GROUP INC COM 983772104 22,917 1,426,958 SH   SOLE   1,426,958 0 0