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
AMERICAN TOWER CORP NEW COM 03027X100 397,088 4,017,081 SH   SOLE   4,017,081 0 0
AMERICAN TOWER CORP NEW PFD CONV SER A 03027X308 11,496 100,000 SH   SOLE   100,000 0 0
ANNALY CAP MGMT INC COM 035710409 217 20,044 SH   SOLE   20,044 0 0
ANSYS INC COM 03662Q105 8,225 100,300 SH   SOLE   100,300 0 0
ARLINGTON ASSET INVT CORP CL A NEW 041356205 266 10,000 SH   SOLE   10,000 0 0
BANK OF AMERICA CORPORATION *W EXP 01/16/201 060505146 4,928 700,000 SH   SOLE   700,000 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 45,522 303,175 SH   SOLE   303,175 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 11,526 51 SH   SOLE   51 0 0
CARMAX INC COM 143130102 113,186 1,700,000 SH   SOLE   1,700,000 0 0
COLFAX CORP COM 194014106 299,212 5,802,065 SH   SOLE   5,802,065 0 0
CROWN CASTLE INTL CORP CNV PFD STK SR A 22822V200 2,052 20,000 SH   SOLE   20,000 0 0
CSX CORP COM 126408103 1,554 42,899 SH   SOLE   42,899 0 0
DANAHER CORP DEL COM 235851102 128,565 1,500,000 SH   SOLE   1,500,000 0 0
DIAMOND HILL INVESTMENT GROU COM NEW 25264R207 20,085 145,500 SH   SOLE   145,500 0 0
DISCOVERY COMMUNICATNS NEW COM SER A 25470F302 193,807 5,747,540 SH   SOLE   5,747,540 0 0
DOLLAR TREE INC COM 256746108 246,269 3,499,138 SH   SOLE   3,499,138 0 0
ENSTAR GROUP LIMITED SHS G3075P101 78,188 511,402 SH   SOLE   511,402 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 2,116 50,761 SH   SOLE   50,761 0 0
LAMAR ADVERTISING CO CL A 512816109 3,599 67,100 SH   SOLE   67,100 0 0
LIVE NATION ENTERTAINMENT IN COM 538034109 165,798 6,350,000 SH   SOLE   6,350,000 0 0
LPL FINL HLDGS INC COM 50212V100 76,403 1,715,000 SH   SOLE   1,715,000 0 0
MARKEL CORP COM 570535104 348,251 510,004 SH   SOLE   510,004 0 0
MARKWEST ENERGY PARTNERS L P UNIT LTD PARTN 570759100 468 6,965 SH   SOLE   6,965 0 0
MASTERCARD INC CL A 57636Q104 367,616 4,266,670 SH   SOLE   4,266,670 0 0
MONRO MUFFLER BRAKE INC COM 610236101 86,989 1,505,003 SH   SOLE   1,505,003 0 0
MOODYS CORP COM 615369105 337,173 3,519,180 SH   SOLE   3,519,180 0 0
NUSTAR GP HOLDINGS LLC UNIT RESTG LLC 67059L102 956 27,775 SH   SOLE   27,775 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 157,310 816,688 SH   SOLE   816,688 0 0
PRIMO WTR CORP COM 74165N105 7,111 1,650,000 SH   SOLE   1,650,000 0 0
ROPER INDS INC NEW COM 776696106 179,238 1,146,390 SH   SOLE   1,146,390 0 0
SBA COMMUNICATIONS CORP COM 78388J106 132,912 1,200,000 SH   SOLE   1,200,000 0 0
TD AMERITRADE HLDG CORP COM 87236Y108 113,025 3,158,900 SH   SOLE   3,158,900 0 0
UBIQUITI NETWORKS INC COM 90347A100 54,834 1,850,000 SH   SOLE   1,850,000 0 0
VERISK ANALYTICS INC CL A 92345Y106 51,240 800,000 SH   SOLE   800,000 0 0
VISA INC COM CL A 92826C839 149,666 570,810 SH   SOLE   570,810 0 0
WILLIAMS COS INC DEL COM 969457100 819 18,230 SH   SOLE   18,230 0 0