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
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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
AMAZON COM INC COM 023135106 13,423 26,222 SH   SOLE   26,222 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210 1,095 12,450 SH   SOLE   12,450 0 0
BANK AMER CORP COM 060505104 9,372 601,527 SH   SOLE   601,527 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 13,276 68 SH   SOLE   68 0 0
BIO RAD LABS INC CL A 090572207 14,654 109,107 SH   SOLE   109,107 0 0
CAPELLA EDUCATION COMPANY COM 139594105 1,952 39,416 SH   SOLE   39,416 0 0
COMPANIA CERVECERIAS UNIDAS SPONSORED ADR 204429104 8,938 403,529 SH   SOLE   403,529 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 9,659 55,591 SH   SOLE   55,591 0 0
GOOGLE INC CL A 38259P508 8,033 12,583 SH   SOLE   12,583 0 0
GOOGLE INC CL C 38259P706 3,571 5,869 SH   SOLE   5,869 0 0
ISHARES TR MSCI INDIA ETF 46429B598 649 22,700 SH   SOLE   22,700 0 0
LPL FINL HLDGS INC COM 50212V100 350 8,791 SH   SOLE   8,791 0 0
NATIONAL INSTRS CORP COM 636518102 18,635 670,555 SH   SOLE   670,555 0 0
NICE SYS LTD SPONSORED ADR 653656108 13,026 231,250 SH   SOLE   231,250 0 0
QAD INC CL A 74727D306 24,937 974,086 SH   SOLE   974,086 0 0
QAD INC CL B 74727D207 1,740 80,445 SH   SOLE   80,445 0 0
QIAGEN NV REG SHS N72482107 9,531 369,425 SH   SOLE   369,425 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 24,832 129,584 SH   SOLE   129,584 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 1,893 57,210 SH   SOLE   57,210 0 0