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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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
ALARM COM HLDGS INC COM 011642105 6,672 400,000 SH   SOLE   400,000 0 0
AMERICAN INTL GROUP INC W EXP 01/19/202 026874156 3,500 147,295 SH   SOLE   147,295 0 0
AMERICAN TOWER CORP NEW COM 03027X100 611,659 6,309,016 SH   SOLE   6,309,016 0 0
AMERICAN TOWER CORP NEW PFD CONV SER A 03027X308 10,226 100,000 SH   SOLE   100,000 0 0
AMERICAN TOWER CORP NEW PFD CONV SER B 03027X407 52,114 515,984 SH   SOLE   515,984 0 0
ANSYS INC COM 03662Q105 9,278 100,300 SH   SOLE   100,300 0 0
ARLINGTON ASSET INVT CORP CL A NEW 041356205 132 10,000 SH   SOLE   10,000 0 0
BANK OF AMERICA CORPORATION *W EXP 01/16/201 060505146 4,265 732,890 SH   SOLE   732,890 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 50,973 386,043 SH   SOLE   386,043 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 10,286 52 SH   SOLE   52 0 0
CARMAX INC COM 143130102 184,435 3,417,359 SH   SOLE   3,417,359 0 0
COLFAX CORP COM 194014106 171,527 7,345,908 SH   SOLE   7,345,908 0 0
CROWN CASTLE INTL CORP CNV PFD STK SR A 22822V200 2,145 20,000 SH   SOLE   20,000 0 0
CSX CORP COM 126408103 1,056 40,695 SH   SOLE   40,695 0 0
DANAHER CORP DEL COM 235851102 139,320 1,500,000 SH   SOLE   1,500,000 0 0
DIAMOND HILL INVESTMENT GROU COM NEW 25264R207 27,499 145,500 SH   SOLE   145,500 0 0
DOLLAR TREE INC COM 256746108 323,119 4,184,400 SH   SOLE   4,184,400 0 0
DULUTH HLDGS INC COM CL B 26443V101 5,106 350,000 SH   SOLE   350,000 0 0
ENSTAR GROUP LIMITED SHS G3075P101 176,488 1,176,274 SH   SOLE   1,176,274 0 0
LKQ CORP COM 501889208 94,019 3,173,100 SH   SOLE   3,173,100 0 0
LAMAR ADVERTISING CO CL A 512816109 3,299 55,000 SH   SOLE   55,000 0 0
MARKEL CORP COM 570535104 455,329 515,457 SH   SOLE   515,457 0 0
MASTERCARD INC CL A 57636Q104 458,471 4,709,033 SH   SOLE   4,709,033 0 0
MONRO MUFFLER BRAKE INC COM 610236101 99,855 1,507,930 SH   SOLE   1,507,930 0 0
MOODYS CORP COM 615369105 367,188 3,659,439 SH   SOLE   3,659,439 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 209,772 827,766 SH   SOLE   827,766 0 0
PRIMO WTR CORP COM 74165N105 13,435 1,679,313 SH   SOLE   1,679,313 0 0
ROPER INDS INC NEW COM 776696106 256,220 1,350,018 SH   SOLE   1,350,018 0 0
SBA COMMUNICATIONS CORP COM 78388J106 189,126 1,800,000 SH   SOLE   1,800,000 0 0
TD AMERITRADE HLDG CORP COM 87236Y108 103,002 2,967,500 SH   SOLE   2,967,500 0 0
UBIQUITI NETWORKS INC COM 90347A100 84,929 2,680,000 SH   SOLE   2,680,000 0 0
VERISK ANALYTICS INC CL A 92345Y106 198,472 2,581,579 SH   SOLE   2,581,579 0 0
VISA INC COM CL A 92826C839 177,065 2,283,240 SH   SOLE   2,283,240 0 0
WMIH Corp COM 92936P100 3,885 1,500,000 SH   SOLE   1,500,000 0 0