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

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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
CREDIT ACCEP CORP MICH COM 225310101 24,441 112,369 SH   SOLE   112,369 0 0
EPLUS INC COM 294268107 21,080 182,983 SH   SOLE   182,983 0 0
ITURAN LOCATION AND CONTROL LTD SHS M6158M104 18,785 708,872 SH   SOLE   708,872 0 0
MCKESSON CORP COM 58155Q103 6,067 43,195 SH   SOLE   43,195 0 0
MICROSOFT CORP COM 594918104 1,757 28,278 SH   SOLE   28,278 0 0
NETEASE INC SPONS ADR 64110W102 7,347 34,120 SH   SOLE   34,120 0 0
OLD DOMINION FREIGHT LINE INC COM 679580100 10,358 120,741 SH   SOLE   120,741 0 0
RMR GROUP INC CL A 74967R106 16,779 424,794 SH   SOLE   424,794 0 0
WAYSIDE TECHNOLOGY GROUP INC COM 946760105 2,699 144,327 SH   SOLE   144,327 0 0