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
Affiliated Managers Group Com 008252108 20,632 95,129 SH   SOLE N/A 81,581 0 13,548
American Cap Ltd Com 02503Y103 2,037 130,226 SH   SOLE N/A 100,785 0 29,441
Ares Cap Corp Com 04010L103 16,759 943,105 SH   SOLE N/A 817,085 0 126,020
Berkshire Hathaway Inc Del Cl B New 084670702 22,892 193,085 SH   SOLE N/A 164,959 0 28,126
Brookfield Asset Mgmt Inc Cl A Ltd Vt Sh 112585104 29,133 750,282 SH   SOLE N/A 642,182 0 108,100
Canadian Natl Ry Co Com 136375102 11,450 200,806 SH   SOLE N/A 171,916 0 28,890
Discovery Communicatns New Com Ser C 25470F302 19,398 231,317 SH   SOLE N/A 197,957 0 33,360
Express Scripts Hldg Co Com 30219G108 28,171 401,062 SH   SOLE N/A 343,432 0 57,630
Exxon Mobile Corp Com 30231G102 3,166 31,281 SH   SOLE N/A 26,764 0 4,517
HCC Ins Hldgs Inc Com 404132102 32,135 696,474 SH   SOLE N/A 595,999 0 100,475
Helmerich & Payne Inc Com 423452101 21,628 257,229 SH   SOLE N/A 219,279 0 37,950
Illinois Tool Wks Inc Com 452308109 3,938 46,836 SH   SOLE N/A 39,306 0 7,530
Intel Corp Com 458140100 14,403 554,916 SH   SOLE N/A 473,966 0 80,950
International Business Machs Com 459200101 20,568 109,654 SH   SOLE N/A 93,758 0 15,896
Johnson & Johnson Com 478160104 4,083 44,576 SH   SOLE N/A 38,186 0 6,390
JP Morgan Chase & Co Com 46625H100 18,792 321,348 SH   SOLE N/A 274,173 0 47,175
Kinder Morgan Inc Del Com 49456B101 30,896 858,222 SH   SOLE N/A 734,822 0 123,400
Kroger Co Com 501044101 20,287 513,211 SH   SOLE N/A 438,391 0 74,820
Level 3 Communications Inc Com New 52729N308 15,490 466,980 SH   SOLE N/A 402,671 0 64,309
McDonalds Corp Com 580135101 591 6,088 SH   SOLE N/A 5,078 0 1,010
National Oilwell Varco Inc Com 637071101 7,289 91,656 SH   SOLE N/A 78,956 0 12,700
Parker Hannifin Corp Com 701094104 9,256 71,953 SH   SOLE N/A 61,441 0 10,512
Qualcomm Inc Com 747525103 13,036 175,568 SH   SOLE N/A 149,698 0 25,870
Radian Group Inc Com 750236101 29,176 2,066,309 SH   SOLE N/A 1,769,039 0 297,270
Reliance Steel & Aluminum Co Com 759509102 21,803 287,483 SH   SOLE N/A 245,023 0 42,460
Rouse Pptys Inc Com 779287101 22,308 1,005,305 SH   SOLE N/A 860,714 0 144,591
Taiwan Semiconductor Mfg Ltd Sponsored ADR 874039100 10,710 614,111 SH   SOLE N/A 524,187 0 89,924
TJX Cos Inc New Com 872540109 27,480 431,195 SH   SOLE N/A 368,363 0 62,832
United Parcel Service Inc Cl B 911312106 933 8,876 SH   SOLE N/A 7,383 0 1,493
United Technologies Corp Com 913017109 22,463 197,386 SH   SOLE N/A 168,136 0 29,250
Vanguard Bd Index Fd Inc Total Bnd Mrkt 921937835 437 5,460 SH   SOLE N/A 1,850 0 3,610
Wells Fargo & Co New Com 949746101 19,804 436,214 SH   SOLE N/A 372,254 0 63,960