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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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
AES CORP COM 00130H105 20,511 1,529,500 SH   SOLE 1 1,529,500 0 0
ALLIANCE DATA SYSTEMS CORP COM 018581108 1,418,473 6,082,646 SH   SOLE 1 6,082,646 0 0
ARMSTRONG FLOORING INC COM 04238R106 64,792 4,614,787 SH   SOLE 1 4,614,787 0 0
ARMSTRONG WORLD INDS INC NEW COM 04247X102 433,085 6,852,612 SH   SOLE 1 6,852,612 0 0
CBRE GROUP INC CL A 12504L109 950,834 19,916,923 SH   SOLE 1 19,916,923 0 0
CITIGROUP COM NEW 172967424 1,684,744 25,175,500 SH   SOLE 1 25,175,500 0 0
ENVIVA PARTNERS LP COM UNIT 29414J107 19,947 685,453 SH   SOLE 1 685,453 0 0
KKR & CO LP COM UNITS 48251W104 1,235,045 49,700,000 SH   SOLE 1 49,700,000 0 0
LINDBLAD EXPEDITIONS HOLDINGS INC COM 535219109 22,409 1,691,300 SH   SOLE 1 1,691,300 0 0
MORGAN STANLEY COM NEW 617446448 886,836 18,709,620 SH   SOLE 1 18,709,620 0 0
SEAGATE TECHNOLOGY PLC SHS G7945M107 1,265,194 22,404,700 SH   SOLE 1 22,404,700 0 0
SLM CORP COM 78442P106 430,582 37,605,408 SH   SOLE 1 37,605,408 0 0
STRAYER EDUCATION COM 863236105 21,862 193,457 SH   SOLE 1 193,457 0 0
TRINITY INDS INC COM 896522109 733,435 21,407,891 SH   SOLE 1 21,407,891 0 0
TWENTY-FIRST CENTURY FOX INC CL B 90130A200 1,410,419 28,626,334 SH   SOLE 1 28,626,334 0 0
UNIFI, INC. COM NEW 904677200 29,323 925,000 SH   SOLE 1 925,000 0 0
VALEANT PHARMACEUTICALS INTE COM 91911K102 419,090 18,033,149 SH   SOLE 1 18,033,149 0 0