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

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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 11,544 400,000 SH   SOLE   400,000 0 0
AMERICAN INTL GROUP INC W EXP 01/19/202 026874156 2,197 103,628 SH   SOLE   103,628 0 0
AMERICAN TOWER CORP NEW COM 03027X100 714,074 6,300,836 SH   SOLE   6,300,836 0 0
AMERICAN TOWER CORP NEW PFD CONV SER A 03027X308 11,148 100,000 SH   SOLE   100,000 0 0
AMERICAN TOWER CORP NEW PFD CONV SER B 03027X407 56,409 514,732 SH   SOLE   514,732 0 0
BANK OF AMERICA CORPORATION *W EXP 01/16/201 060505146 3,386 732,890 SH   SOLE   732,890 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 55,681 385,414 SH   SOLE   385,414 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 11,243 52 SH   SOLE   52 0 0
CARMAX INC COM 143130102 264,523 4,958,266 SH   SOLE   4,958,266 0 0
COLFAX CORP COM 194014106 191,723 6,100,000 SH   SOLE   6,100,000 0 0
CROWN CASTLE INTL CORP CNV PFD STK SR A 22822V200 2,260 20,000 SH   SOLE   20,000 0 0
CSX CORP COM 126408103 1,182 38,781 SH   SOLE   38,781 0 0
DANAHER CORP DEL COM 235851102 117,585 1,500,000 SH   SOLE   1,500,000 0 0
DIAMOND HILL INVESTMENT GROU COM NEW 25264R207 26,887 145,500 SH   SOLE   145,500 0 0
DOLLAR TREE INC COM 256746108 330,395 4,185,925 SH   SOLE   4,185,925 0 0
DULUTH HLDGS INC COM CL B 26443V101 9,278 350,000 SH   SOLE   350,000 0 0
ENSTAR GROUP LIMITED SHS G3075P101 238,543 1,450,375 SH   SOLE   1,450,375 0 0
FORTIVE CORP COM 34959J108 38,175 750,000 SH   SOLE   750,000 0 0
LKQ CORP COM 501889208 125,883 3,550,000 SH   SOLE   3,550,000 0 0
LAMAR ADVERTISING CO CL A 512816109 3,220 49,297 SH   SOLE   49,297 0 0
MARKEL CORP COM 570535104 478,232 514,909 SH   SOLE   514,909 0 0
MASTERCARD INC CL A 57636Q104 479,040 4,707,088 SH   SOLE   4,707,088 0 0
MONRO MUFFLER BRAKE INC COM 610236101 92,240 1,507,930 SH   SOLE   1,507,930 0 0
MOODYS CORP COM 615369105 437,440 4,039,894 SH   SOLE   4,039,894 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 231,552 826,648 SH   SOLE   826,648 0 0
PRIMO WTR CORP COM 74165N105 20,370 1,679,313 SH   SOLE   1,679,313 0 0
ROPER INDS INC NEW COM 776696106 284,827 1,560,952 SH   SOLE   1,560,952 0 0
SBA COMMUNICATIONS CORP COM 78388J106 209,178 1,865,000 SH   SOLE   1,865,000 0 0
TD AMERITRADE HLDG CORP COM 87236Y108 104,575 2,967,500 SH   SOLE   2,967,500 0 0
UBIQUITI NETWORKS INC COM 90347A100 143,380 2,680,000 SH   SOLE   2,680,000 0 0
VERISK ANALYTICS INC CL A 92345Y106 210,183 2,585,913 SH   SOLE   2,585,913 0 0
VISA INC COM CL A 92826C839 298,967 3,615,080 SH   SOLE   3,615,080 0 0
WMIH Corp COM 92936P100 3,510 1,500,000 SH   SOLE   1,500,000 0 0