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
Estimated average burden
hours per response: 23.8
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 376,146 4,017,371 SH   SOLE   4,017,371 0 0
AMERICAN TOWER CORP NEW PFD CONV SER A 03027X308 10,850 100,000 SH   SOLE   100,000 0 0
ANNALY CAP MGMT INC COM 035710409 534 50,044 SH   SOLE   50,044 0 0
ANSYS INC COM 03662Q105 7,590 100,300 SH   SOLE   100,300 0 0
APPLE INC COM 037833100 64,212 637,338 SH   SOLE   637,338 0 0
ARLINGTON ASSET INVT CORP CL A NEW 041356205 254 10,000 SH   SOLE   10,000 0 0
BANK OF AMERICA CORPORATION *W EXP 01/16/201 060505146 5,250 700,000 SH   SOLE   700,000 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 42,572 308,180 SH   SOLE   308,180 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 10,759 52 SH   SOLE   52 0 0
CARMAX INC COM 143130102 55,508 1,195,000 SH   SOLE   1,195,000 0 0
COLFAX CORP COM 194014106 294,183 5,163,820 SH   SOLE   5,163,820 0 0
CROWN CASTLE INTL CORP CNV PFD STK SR A 228227500 2,104 20,000 SH   SOLE   20,000 0 0
CSX CORP COM 126408103 1,375 42,899 SH   SOLE   42,899 0 0
DANAHER CORP DEL COM 235851102 144,362 1,900,000 SH   SOLE   1,900,000 0 0
DIAMOND HILL INVESTMENT GROU COM NEW 25264R207 17,904 145,500 SH   SOLE   145,500 0 0
DISCOVERY COMMUNICATNS NEW COM SER A 25470F302 213,702 5,732,340 SH   SOLE   5,732,340 0 0
DOLLAR TREE INC COM 256746108 195,381 3,484,598 SH   SOLE   3,484,598 0 0
ENSTAR GROUP LIMITED SHS G3075P101 67,544 495,484 SH   SOLE   495,484 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 11,402 306,101 SH   SOLE   306,101 0 0
LAMAR ADVERTISING CO CL A 512815101 3,305 67,100 SH   SOLE   67,100 0 0
LEUCADIA NATL CORP COM 527288104 2,372 99,500 SH   SOLE   99,500 0 0
LIVE NATION ENTERTAINMENT IN COM 538034109 152,527 6,350,000 SH   SOLE   6,350,000 0 0
LPL FINL HLDGS INC COM 50212V100 78,976 1,715,000 SH   SOLE   1,715,000 0 0
MARKEL CORP COM 570535104 323,701 508,844 SH   SOLE   508,844 0 0
MARKWEST ENERGY PARTNERS L P UNIT LTD PARTN 570759100 535 6,965 SH   SOLE   6,965 0 0
MASTERCARD INC CL A 57636Q104 315,873 4,273,180 SH   SOLE   4,273,180 0 0
MONRO MUFFLER BRAKE INC COM 610236101 61,148 1,260,000 SH   SOLE   1,260,000 0 0
MOODYS CORP COM 615369105 328,912 3,480,545 SH   SOLE   3,480,545 0 0
NUSTAR GP HOLDINGS LLC UNIT RESTG LLC 67059L102 1,208 27,775 SH   SOLE   27,775 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 122,934 817,598 SH   SOLE   817,598 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 159,222 1,088,400 SH   SOLE   1,088,400 0 0
SBA COMMUNICATIONS CORP COM 78388J106 133,080 1,200,000 SH   SOLE   1,200,000 0 0
TD AMERITRADE HLDG CORP COM 87236Y108 105,412 3,158,900 SH   SOLE   3,158,900 0 0
TRANSDIGM GROUP INC COM 893641100 1,843 10,000 SH   SOLE   10,000 0 0
UBIQUITI NETWORKS INC COM 90347A100 33,777 900,000 SH   SOLE   900,000 0 0
VERISK ANALYTICS INC CL A 92345Y106 48,712 800,000 SH   SOLE   800,000 0 0
VISA INC COM CL A 92826C839 121,713 570,430 SH   SOLE   570,430 0 0
WILLIAMS COS INC DEL COM 969457100 1,009 18,230 SH   SOLE   18,230 0 0