| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 4,260 | 2,130 | 0 | 2,130 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ANSYS INC | 347,622 | 638,680 |
| AMERICAN TOWER CORP CL A | 128,061 | 568,882 |
| ANADARKO PET CORP | 106,367 | 195,150 |
| APPLIED MINERALS INC | 42,850 | 46,400 |
| BIOGEN INC | 177,036 | 212,069 |
| BLACK BAUD INC | 131,463 | 170,850 |
| CARMAX INC | 127,045 | 122,488 |
| CAREFUSION CORP | 0 | 0 |
| CELGENE CORP COM | 87,439 | 347,205 |
| CHIPOTLE MEXICAN GRILL | 201,510 | 181,497 |
| CONCHO RESOURCES INC | 0 | 0 |
| CONCUR TECHNOLOGIES INC | 0 | 0 |
| COSTAR GROUP INC | 75,594 | 316,984 |
| DEALERTRACK HLDGS INC | 0 | 0 |
| DISCOVER FINANCIAL SERV | 294,414 | 302,505 |
| ECOLAB INC | 183,823 | 339,210 |
| EXPEDITORS INTL WASH INC | 315,750 | 355,008 |
| FASTENAL COMPANY | 517,415 | 442,890 |
| FINL ENGINES INC | 247,576 | 396,126 |
| FREEPRT-MCMRAN CPR & GLD | 63,272 | 137,416 |
| HESS CORP | 0 | 0 |
| IMAX CORP | 293,374 | 442,970 |
| INTUITIVE SURGICAL INC | 323,262 | 363,375 |
| JACOBS ENGN GRP INC DELA | 0 | 0 |
| LKQ CORP | 326,621 | 406,795 |
| LYNAS CORP LTD | 9,292 | 1,958 |
| MARKEL CORP COM | 236,716 | 468,398 |
| MASTERCARD INC | 250,864 | 257,070 |
| MCGRAW HILL FINANCIAL | 207,992 | 200,900 |
| MOODY'S CORP | 223,238 | 334,676 |
| POTASH CORP SASKATECHEWAN | 356,475 | 310,474 |
| PRA GROUP INC | 369,924 | 405,015 |
| PRICESMART INC | 0 | 0 |
| QUALCOMM INC | 304,858 | 325,676 |
| QUALYS INC | 125,096 | 127,103 |
| RANGE RESOURCES CORP DEL | 185,816 | 148,140 |
| RED HAT INC | 267,472 | 417,615 |
| RENAISSANCERE HLDGS LTD | 0 | 0 |
| SCHLUMBERGER LTD | 0 | 0 |
| SEI INVT CO | 153,761 | 367,725 |
| SIGNET JEWELERS LTD | 273,752 | 359,072 |
| SILVER WHEATON CORP | 117,850 | 260,100 |
| SOUTHWESTERN ENERGY CO | 0 | 0 |
| STERICYCLE INC COM | 65,886 | 174,083 |
| TANGOE INC | 210,731 | 153,476 |
| THREE D SYSTEMS NEW | 0 | 0 |
| TRIMBLE NAV LTD | 176,930 | 177,123 |
| VERISK ANALYTICS INC. | 299,919 | 352,886 |
| WAGEWORKS INC | 318,259 | 317,533 |
| WASTE CONNECTIONS INC | 193,166 | 259,160 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| BANK SERVICE CHARGES | 85 | 43 | 0 | 42 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAX PAID | 2,645 | 2,645 | 0 | 0 |
| 2013 FEDERAL TAX | 7,319 | 0 | 0 | 0 |