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
AON PLC SHS CL A G0408V102 56,850 648,450 SH   SOLE   634,110 0 14,340
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 18,736 230,400 SH   SOLE   230,400 0 0
ENDO INTL PLC SHS G30401106 49,338 721,950 SH   SOLE   721,950 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 203,363 4,958,258 SH   SOLE   4,889,858 0 68,400
WILLIS GROUP HOLDINGS PUBLIC SHS G96666105 24,373 588,720 SH   SOLE   570,120 0 18,600
THE ADT CORPORATION COM 00101J106 61,093 1,722,865 SH   SOLE   1,701,365 0 21,500
ACI WORLDWIDE INC COM 004498101 12,063 643,000 SH   SOLE   643,000 0 0
ALLISON TRANSMISSION HLDGS I COM 01973R101 427 15,000 SH   SOLE   15,000 0 0
ANGIES LIST INC COM 034754101 23,398 3,673,102 SH   SOLE   3,673,102 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 1,441 13,000 SH   SOLE   13,000 0 0
APACHE CORP COM 037411105 67,719 721,408 SH   SOLE   704,408 0 17,000
ASCENT CAP GROUP INC COM SER A 043632108 8,428 140,000 SH   SOLE   140,000 0 0
AVON PRODS INC COM 054303102 61,847 4,908,498 SH   SOLE   4,853,498 0 55,000
BERKSHIRE HATHAWAY INC DEL CL A 084670108 14,276 69 SH   SOLE   69 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 196,038 1,419,123 SH   SOLE   1,399,623 0 19,500
BROWN & BROWN INC COM 115236101 33,675 1,047,446 SH   SOLE   1,026,746 0 20,700
CACI INTL INC CL A 127190304 22,407 314,400 SH   SOLE   314,400 0 0
CATAMARAN CORP COM 148887102 42,208 1,001,377 SH   SOLE   980,277 0 21,100
CUMULUS MEDIA INC CL A 231082108 13,335 3,308,963 SH   SOLE   3,308,963 0 0
DIAGEO P L C SPON ADR NEW 25243Q205 15,186 131,595 SH   SOLE   131,595 0 0
DISCOVERY COMMUNICATNS NEW COM SER C 25470F302 23,453 629,100 SH   SOLE   629,100 0 0
DIRECTV COM 25490A309 140,544 1,624,412 SH   SOLE   1,597,912 0 26,500
DISNEY WALT CO COM DISNEY 254687106 25,200 283,050 SH   SOLE   283,050 0 0
EBAY INC COM 278642103 37,545 662,990 SH   SOLE   662,990 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 125,503 1,776,907 SH   SOLE   1,744,407 0 32,500
FLIR SYS INC COM 302445101 28,108 896,885 SH   SOLE   863,385 0 33,500
FTI CONSULTING INC COM 302941109 315 9,000 SH   SOLE   9,000 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 32,377 575,080 SH   SOLE   560,880 0 14,200
GOOGLE INC CL A 38259P508 31,568 53,650 SH   SOLE   53,650 0 0
GOOGLE INC CL C 38259P706 38,874 67,331 SH   SOLE   65,091 0 2,240
HEWLETT PACKARD CO COM 428236103 372 10,500 SH   SOLE   10,500 0 0
ICONIX BRAND GROUP INC COM 451055107 85,797 2,322,615 SH   SOLE   2,277,615 0 45,000
INTELLIGENT SYS CORP NEW COM 45816D100 3,110 2,270,000 SH   SOLE   2,270,000 0 0
INTERVAL LEISURE GROUP INC COM 46113M108 60,921 3,197,964 SH   SOLE   3,134,464 0 63,500
LABORATORY CORP AMER HLDGS COM NEW 50540R409 100,620 988,891 SH   SOLE   976,391 0 12,500
LIBERTY INTERACTIVE CORP INT COM SER A 53071M104 148,818 5,218,030 SH   SOLE   5,149,030 0 69,000
LIBERTY INTERACTIVE CORP LBT VENT COM A 53071M880 17,841 470,000 SH   SOLE   470,000 0 0
LIBERTY MEDIA CORP DELAWARE CL A 531229102 69,524 1,473,581 SH   SOLE   1,450,381 0 23,200
LIBERTY MEDIA CORP DELAWARE COM SER C 531229300 144,757 3,080,597 SH   SOLE   3,032,697 0 47,900
LIBERTY TRIPADVISOR HLDGS IN COM SER A 531465102 14,577 430,000 SH   SOLE   430,000 0 0
LIVE NATION ENTERTAINMENT IN COM 538034109 66,158 2,754,295 SH   SOLE   2,723,595 0 30,700
MARTIN MARIETTA MATLS INC COM 573284106 98,028 760,263 SH   SOLE   749,663 0 10,600
MICROSOFT CORP COM 594918104 66,916 1,443,400 SH   SOLE   1,412,900 0 30,500
MONMOUTH REAL ESTATE INVT CO CL A 609720107 69 6,800 SH   SOLE   6,800 0 0
NATIONAL CINEMEDIA INC COM 635309107 41,420 2,854,615 SH   SOLE   2,854,615 0 0
OMNICOM GROUP INC COM 681919106 20,058 291,280 SH   SOLE   291,280 0 0
ORACLE CORP COM 68389X105 78,382 2,047,605 SH   SOLE   2,015,905 0 31,700
PIONEER NAT RES CO COM 723787107 14,247 72,330 SH   SOLE   72,330 0 0
POST HLDGS INC COM 737446104 8,063 243,000 SH   SOLE   243,000 0 0
PRAXAIR INC COM 74005P104 16,208 125,645 SH   SOLE   125,645 0 0
PRECISION CASTPARTS CORP COM 740189105 30,210 127,535 SH   SOLE   127,535 0 0
PRESTIGE BRANDS HLDGS INC COM 74112D101 5,179 160,000 SH   SOLE   160,000 0 0
PROSHARES TR SHRT 20+YR TRE 74347X849 19,418 700,000 SH   SOLE   700,000 0 0
RANGE RES CORP COM 75281A109 75,538 1,113,967 SH   SOLE   1,098,367 0 15,600
REDWOOD TR INC NOTE 4.625% 4/1 758075AB1 28,609 28,825,000 SH   SOLE   28,825,000 0 0
REDWOOD TR INC COM 758075402 98,244 5,925,435 SH   SOLE   5,828,435 0 97,000
SAPIENT CORP COM 803062108 7,701 550,100 SH   SOLE   550,100 0 0
TEXAS INSTRS INC COM 882508104 109,256 2,290,955 SH   SOLE   2,251,955 0 39,000
TRANSDIGM GROUP INC COM 893641100 108,877 590,666 SH   SOLE   586,766 0 3,900
UNITED PARCEL SERVICE INC CL B 911312106 23,506 239,150 SH   SOLE   239,150 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 221,928 1,691,525 SH   SOLE   1,670,425 0 21,100
WELLS FARGO & CO NEW COM 949746101 118,859 2,291,485 SH   SOLE   2,257,485 0 34,000
WESCO AIRCRAFT HLDGS INC COM 950814103 39,556 2,273,340 SH   SOLE   2,273,340 0 0
WORLD FUEL SVCS CORP COM 981475106 14,854 372,100 SH   SOLE   372,100 0 0
XO GROUP INC COM 983772104 31,572 2,816,429 SH   SOLE   2,761,429 0 55,000