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| Name | Ticker | Class | Shares | Change | Value | Change | Date |
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AMERICAN TOWER CORP /MA/
| AMT | Common | 1,069,609 | -15,435 | 47,598,000 | 1,364,000 | 06/30/2010 |
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MARKEL CORP
| MKL | Common | 115,206 | 7,845 | 39,170,000 | -1,054,000 | 06/30/2010 |
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LAMAR ADVERTISING CO/NEW
| LAMR | Common | 1,138,320 | 252,882 | 27,912,000 | -2,503,000 | 06/30/2010 |
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ENSTAR GROUP INC
| ESGR | Common | 396,470 | 67,320 | 26,341,000 | 3,577,000 | 06/30/2010 |
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DOLLAR TREE INC
| DLTR | COM | 611,097 | 461,097 | 25,440,000 | 16,557,000 | 06/30/2010 |
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ROSS STORES INC
| ROST | Common | 429,285 | 208,911 | 22,877,000 | 11,094,000 | 06/30/2010 |
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O REILLY AUTOMOTIVE INC
| ORLY | Common | 472,781 | -3,575 | 22,485,000 | 2,616,000 | 06/30/2010 |
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HARTFORD FINANCIAL SERVICES GROUP INC/DE
| HIG/PA | COMMON | 758,045 | 758,045 | 17,541,000 | 17,541,000 | 06/30/2010 |
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FACTSET RESEARCH SYSTEMS INC
| FDS | Common | 164,000 | -61,275 | 10,986,000 | -5,542,000 | 06/30/2010 |
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TJX COMPANIES INC /DE/
| TJX | Common | 233,500 | 0 | 9,795,000 | -133,000 | 06/30/2010 |
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BERKSHIRE HATHAWAY INC
| BRK.A | Common | 77 | -2 | 9,240,000 | -382,000 | 06/30/2010 |
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CARMAX INC
| KMX | Common | 457,140 | -66,181 | 9,097,000 | -4,049,000 | 06/30/2010 |
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PENN NATIONAL GAMING INC
| PENN | Common | 371,045 | -387,624 | 8,571,000 | -12,528,000 | 06/30/2010 |
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WMS INDUSTRIES INC /DE/
| WMS | Common | 200,000 | 0 | 7,850,000 | -538,000 | 06/30/2010 |
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TRANSATLANTIC HOLDINGS INC
| TRH | Common | 150,000 | -59,950 | 7,194,000 | -3,891,000 | 06/30/2010 |
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optionsXpress Holdings, Inc.
| OXPS | Common | 400,000 | 0 | 6,296,000 | -220,000 | 06/30/2010 |
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TD AMERITRADE HOLDING CORP
| AMTD | Common | 400,000 | 100,000 | 6,120,000 | 402,000 | 06/30/2010 |
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MASTERCARD INC
| MA | CL A | 30,000 | 21,000 | 5,986,000 | 3,700,000 | 06/30/2010 |
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MSCI Inc.
| MXB | Cl A | 150,000 | 0 | 4,110,000 | -1,305,000 | 06/30/2010 |
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PRICE T ROWE GROUP INC
| TROW | Common | 82,800 | -76,094 | 3,675,000 | -5,059,000 | 06/30/2010 |
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VISA INC.
| V | CL A | 50,000 | 26,000 | 3,537,000 | 1,352,000 | 06/30/2010 |
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99 CENTS ONLY STORES
| NDN | Common | 235,352 | -35,723 | 3,483,000 | -936,000 | 06/30/2010 |
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BECTON DICKINSON & CO
| BDX | Common | 50,000 | 50,000 | 3,381,000 | 3,381,000 | 06/30/2010 |
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BERKLEY W R CORP
| BER | Common | 100,000 | 100,000 | 2,646,000 | 2,646,000 | 06/30/2010 |
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TRADESTATION GROUP INC
| TRAD | Common | 300,000 | 185,800 | 2,025,000 | 1,224,000 | 06/30/2010 |
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ENSCO INTERNATIONAL INC
| ESV | ADR | 50,000 | 50,000 | 1,964,000 | 1,964,000 | 06/30/2010 |
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MIDDLEBURG FINANCIAL CORP
| MBRG | COM | 134,280 | -1,800 | 1,868,000 | -181,000 | 06/30/2010 |
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White River Capital Inc
| RVR | Common | 93,273 | 0 | 1,272,000 | -6,000 | 06/30/2010 |
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HARTFORD FINANCIAL SERVICES GROUP INC/DE
| HIG | Common | 50,000 | -175,070 | 1,106,000 | -5,290,000 | 06/30/2010 |
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Fox Chase Bancorp Inc
| FXCB | COMMON | 100,000 | 100,000 | 957,000 | 957,000 | 06/30/2010 |
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CSX CORP
| CSX | Common | 17,768 | 0 | 882,000 | -22,000 | 06/30/2010 |
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Greenlight Capital Re, Ltd.
| GLRE | Common | 26,910 | 26,910 | 678,000 | 678,000 | 06/30/2010 |
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Enterprise GP Holdings L.P.
| EPE | UNIT LP INT | 8,805 | 0 | 418,000 | 40,000 | 06/30/2010 |
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NASHUA CORP
| NSH | UNIT RESTG LLC | 13,340 | 0 | 410,000 | 15,000 | 06/30/2010 |
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ANNALY CAPITAL MANAGEMENT INC
| NLY | Common | 22,100 | 0 | 379,000 | -1,000 | 06/30/2010 |
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