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 9,757 26,222 SH   SOLE   26,222 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210 1,258 12,450 SH   SOLE   12,450 0 0
BANK AMER CORP COM 060505104 9,258 601,527 SH   SOLE   601,527 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 14,790 68 SH   SOLE   68 0 0
BIO RAD LABS INC CL A 090572207 12,869 95,197 SH   SOLE   95,197 0 0
COMPANIA CERVECERIAS UNIDAS SPONSORED ADR 204429104 6,470 311,680 SH   SOLE   311,680 0 0
CAPELLA EDUCATION COMPANY COM 139594105 2,557 39,416 SH   SOLE   39,416 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 10,449 55,591 SH   SOLE   55,591 0 0
GOOGLE INC CL A 38259P508 6,980 12,583 SH   SOLE   12,583 0 0
GOOGLE INC CL C 38259P706 3,199 5,853 SH   SOLE   5,853 0 0
ISHARES TR MSCI INDIA ETF 46429B598 726 22,700 SH   SOLE   22,700 0 0
LPL FINL HLDGS INC COM 50212V100 386 8,791 SH   SOLE   8,791 0 0
NATIONAL INSTRS CORP COM 636518102 14,899 465,000 SH   SOLE   465,000 0 0
NICE SYS LTD SPONSORED ADR 653656108 14,090 231,250 SH   SOLE   231,250 0 0
QAD INC CL A 74727D306 23,573 974,086 SH   SOLE   974,086 0 0
QAD INC CL B 74727D207 1,609 80,445 SH   SOLE   80,445 0 0
QIAGEN NV REG SHS N72482107 9,310 369,425 SH   SOLE   369,425 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 36,628 177,434 SH   SOLE   177,434 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 2,338 57,210 SH   SOLE   57,210 0 0