Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
WMB	WILLIAMS COS INC DEL	41,682,960	$2.307B	27.8%	$55.35 *	$19.97	+51.4%	COM	969457100
SIG	SIGNET JEWELERS LIMITED	5,510,911	$628M	7.6%	$113.91 *	$69.55	+29.1%	SHS	G81276100
FNF	FIDELITY NATIONAL FINANCIAL	20,241,370	$561M	6.8%	$27.74 *	$12.73	0.0%	FNF GROUP COM	31620R303
—	ANADARKO PETE CORP	3,688,030	$374M	4.5%	$101.44	$96.32	—	COM	032511107
—	MONSANTO CO NEW	3,308,484	$372M	4.5%	$112.51	$123.31	—	COM	61166W101
ICE	INTERCONTINENTAL EXCHANGE IN	1,900,000	$371M	4.5%	$195.05 *	$33.54	-1.2%	Call	45866F104
—	ACTAVIS PLC	1,396,803	$337M	4.1%	$241.28	$211.42	—	SHS	G0083B108
—	TW TELECOM INC	7,660,595	$319M	3.8%	$41.61	$28.14	—	COM	87311L104
—	CROWN CASTLE INTL CORP	3,518,108	$283M	3.4%	$80.53	$73.45	—	COM	228227104
ICE	INTERCONTINENTAL EXCHANGE IN	1,350,213	$263M	3.2%	$195.05 *	$33.54	-1.2%	COM	45866F104
—	TIME WARNER INC	3,495,995	$263M	3.2%	$75.21	$70.30	—	COM NEW	887317303
—	CROWN CASTLE INTL CORP	2,500,000	$201M	2.4%	$80.53	$73.45	—	Call	228227104
—	LAMAR ADVERTISING CO	3,923,762	$193M	2.3%	$49.25	$49.63	—	CL A	512815101
BUD	ANHEUSER BUSCH INBEV SA/NV	1,418,986	$157M	1.9%	$110.85	$109.41	—	SPONSORED ADR	03524A108
CLX	CLOROX CO DEL	1,515,300	$146M	1.8%	$96.04	—	—	Call	189054109
DG	DOLLAR GEN CORP NEW	2,197,029	$134M	1.6%	$61.11 *	$48.02	+8.4%	COM	256677105
—	ALLERGAN INC	750,000	$134M	1.6%	$178.19	$174.30	—	COM	018490102
DHR	DANAHER CORP DEL	1,560,000	$119M	1.4%	$75.98 *	$31.17	0.0%	COM	235851102
TAP	MOLSON COORS BREWING CO	1,500,000	$112M	1.3%	$74.44 *	$55.38	0.0%	Call	60871R209
—	CBS CORP NEW	1,900,497	$102M	1.2%	$53.50	$50.96	—	CL B	124857202
—	EQUITY COMWLTH	3,942,046	$101M	1.2%	$25.71	$25.71	—	COM SH BEN INT	294628102
—	ALLERGAN INC	500,000	$89.09M	1.1%	$178.19	$174.30	—	Put	018490102
—	B/E AEROSPACE INC	800,000	$67.15M	0.8%	$83.94	$83.94	—	COM	073302101
OII	OCEANEERING INTL INC	921,333	$60.04M	0.7%	$65.17 *	$69.09	0.0%	COM	675232102
—	SOTHEBYS	1,500,000	$53.58M	0.6%	$35.72	—	—	Call	835898107
VYX	NCR CORP NEW	1,557,396	$52.03M	0.6%	$33.41 *	$21.25	-4.5%	COM	62886E108
—	NATIONSTAR MTG HLDGS INC	1,500,000	$51.36M	0.6%	$34.24	—	—	Call	63861C109
CAG	CONAGRA FOODS INC	1,546,555	$51.1M	0.6%	$33.04 *	$16.74	0.0%	COM	205887102
—	ACTAVIS PLC	200,000	$48.26M	0.6%	$241.28	$211.42	—	Call	G0083B108
AMAT	APPLIED MATLS INC	2,054,429	$44.4M	0.5%	$21.61 *	$19.16	0.0%	COM	038222105
—	E M C CORP MASS	1,470,000	$43.01M	0.5%	$29.26	$29.26	—	COM	268648102
HUM	HUMANA INC	275,406	$35.88M	0.4%	$130.29 *	$116.07	0.0%	COM	444859102
—	SBA COMMUNICATIONS CORP	298,693	$33.13M	0.4%	$110.90	$81.96	—	COM	78388J106
—	FIDELITY NATIONAL FINANCIAL	2,389,080	$32.87M	0.4%	$13.76	$13.76	—	FNFV GROUP COM	31620R402
—	SALIX PHARMACEUTICALS INC	180,000	$28.12M	0.3%	$156.24	$156.24	—	COM	795435106
SPY	SPDR S&P 500 ETF TR	124,500	$24.53M	0.3%	$197.02	$197.02	—	TR UNIT	78462F103
—	RIVERBED TECHNOLOGY INC	1,239,802	$22.99M	0.3%	$18.54	$18.54	—	COM	768573107
EVTC	EVERTEC INC	943,000	$21.07M	0.3%	$22.34 *	$18.59	+9.5%	COM	30040P103
MCD	MCDONALDS CORP	200,000	$18.96M	0.2%	$94.81 *	$71.25	0.0%	COM	580135101
TAP	MOLSON COORS BREWING CO	180,000	$13.4M	0.2%	$74.44 *	$55.38	0.0%	CL B	60871R209
LADR	LADDER CAP CORP	288,486	$5.452M	0.1%	$18.90	$18.90	—	CL A	505743104
—	CLOVIS ONCOLOGY INC	93,586	$4.245M	0.1%	$45.36	$45.36	—	COM	189464100
—	CROWN CASTLE INTL CORP	35,000	$3.671M	0.0%	$104.89	$100.11	—	CNV PFD STK SR A	228227500
DHR	DANAHER CORP DEL	48,000	$3.647M	0.0%	$75.98 *	$31.17	0.0%	Call	235851102
—	VIVUS INC	909,970	$3.512M	0.0%	$3.86	$10.75	—	COM	928551100
AZN	ASTRAZENECA PLC	20,600	$1.472M	0.0%	$71.46	$74.31	—	Call	046353108
—	ARIAD PHARMACEUTICALS INC	100,000	$540K	0.0%	$5.40	$6.82	—	COM	04033A100