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
Expires: July 31, 2015
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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
ARCH CAP GROUP LTD ORD G0450A105 323,319,956 3,331,135 SH SOLE 2,968,079 0 363,056
AUTOZONE INC COM 053332102 435,840,725 136,373 SH SOLE 117,727 0 18,646
DISNEY WALT CO COM 254687106 124,945,168 1,298,132 SH SOLE 1,186,074 0 112,058
DOMINOS PIZZA INC COM 25754A201 189,033,792 638,541 SH SOLE 568,989 0 69,552
EXPEDITORS INTL WASH INC COM 302130109 253,265,083 1,553,964 SH SOLE 1,352,967 0 200,997
FASTENAL CO COM 311900104 123,668,417 2,574,816 SH SOLE 2,196,880 0 377,936
MASTERCARD INCORPORATED CL A 57636Q104 293,927,923 572,290 SH SOLE 497,684 0 74,606
MOODYS CORP COM 615369105 191,497,359 422,806 SH SOLE 371,393 0 51,413
NIKE INC CL B 654106103 178,313,647 4,343,816 SH SOLE 3,879,827 0 463,989
NVR INC COM 62944T105 137,228,689 20,141 SH SOLE 17,778 0 2,363
OREILLY AUTOMOTIVE INC COM 67103H107 252,368,685 2,740,457 SH SOLE 2,355,357 0 385,100
PROGRESSIVE CORP COM 743315103 470,363,489 2,153,186 SH SOLE 1,918,062 0 235,124
ROSS STORES INC COM 778296103 126,795,641 595,704 SH SOLE 522,393 0 73,311
STRATEGIC ED INC COM 86272C103 42,831,474 559,012 SH SOLE 486,117 0 72,895
TJX COS INC NEW COM 872540109 132,224,596 872,770 SH SOLE 771,688 0 101,082
UNITEDHEALTH GROUP INC COM 91324P102 634,316,697 1,526,157 SH SOLE 1,364,082 0 162,075
VISA INC COM CL A 92826C839 354,903,450 1,034,433 SH SOLE 915,858 0 118,575