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
3M COMPANY COM 88579y101 297 1,550 SH   SOLE   1,550 0 0
ABBOTT LABORATORIES COM 002824100 244 5,500 SH   SOLE   5,500 0 0
ABBVIE INC COM 00287y109 367 5,626 SH   SOLE   5,626 0 0
AFFILIATED MANAGERS GRP COM 008252108 25,241 153,964 SH   SOLE   153,564 400 0
ALPHABET INC SHS CL A COM 02079k305 13,996 16,509 SH   SOLE   16,509 0 0
ALPHABET INC SHS CL C COM 02079k107 20,306 24,478 SH   SOLE   24,438 40 0
ALTRIA GROUP INC COM 02209s103 290 4,057 SH   SOLE   4,057 0 0
AMAZON.COM INC COM 023135106 11,777 13,284 SH   SOLE   13,244 40 0
AMERICAN EXPRESS CO COM 025816109 23,965 302,928 SH   SOLE   301,628 1,300 0
AMERICAN TOWER CORP COM 03027x100 2,955 24,309 SH   SOLE   24,309 0 0
ANNALY CAP MGMT INC COM 035710409 352 31,650 SH   SOLE   31,650 0 0
APPLE INC COM 037833100 8,948 62,283 SH   SOLE   62,283 0 0
ASSOCIATED CAPITAL GP COM 045528106 260 7,200 SH   SOLE   7,200 0 0
AUTOMATIC DATA PROCESS COM 053015103 215 2,100 SH   SOLE   2,100 0 0
BANK OF AMERICA CORP COM 060505104 229 9,696 SH   SOLE   9,696 0 0
BERKSHIRE HATHAWAY A COM 084670108 9,494 38 SH   SOLE   38 0 0
BERKSHIRE HATHAWAY B COM 084670702 123,283 739,638 SH   SOLE   736,638 3,000 0
BLACKSTONE GROUP LP COM 09253u108 25,602 862,037 SH   SOLE   860,137 1,900 0
BOEING CO COM 097023105 247 1,399 SH   SOLE   1,399 0 0
BP PLC COM 055622104 465 13,481 SH   SOLE   13,481 0 0
BROOKFIELD ASSET MGMT COM 112585104 13,137 361,198 SH   SOLE   361,198 0 0
CARMAX INC COM 143130102 15,912 268,688 SH   SOLE   268,338 350 0
CHEVRON CORPORATION COM 166764100 1,822 16,971 SH   SOLE   16,971 0 0
CHURCHILL DOWNS COM 171484108 4,853 30,550 SH   SOLE   30,550 0 0
COCA COLA COM COM 191216100 19,173 451,777 SH   SOLE   450,777 1,000 0
CONOCOPHILLIPS COM 20825C104 292 5,859 SH   SOLE   5,859 0 0
COSTCO WHOLESALE CO COM 22160k105 506 3,015 SH   SOLE   3,015 0 0
DIAMOND HILL INVT CL A COM 25264r207 516 2,650 SH   SOLE   2,650 0 0
DOUGLAS EMMETT INC COM 25960p109 18,709 487,215 SH   SOLE   485,215 2,000 0
ENBRIDGE INC COM 29250n105 277 6,610 SH   SOLE   6,610 0 0
ENSTAR GROUP LTD COM g3075p101 27,177 142,064 SH   SOLE   141,664 400 0
ESTEE LAUDER INC COM 518439104 11,523 135,898 SH   SOLE   135,398 500 0
EXXON MOBIL CORP COM 30231g102 29,055 354,288 SH   SOLE   352,280 2,008 0
FACEBOOK INC CL A COM 30303m102 364 2,564 SH   SOLE   2,564 0 0
FAIRFAX FINL HLDGS LTD COM 303901102 2,749 6,052 SH   SOLE   6,052 0 0
FARMERS CAP BK CORP COM 309562106 323 8,000 SH   SOLE   8,000 0 0
FEDEX CORPORATION COM 31428x106 234 1,200 SH   SOLE   1,200 0 0
GAMCO INVS INC COM 361438104 15,387 520,013 SH   SOLE   518,413 1,600 0
GAMING & LEISURE INC COM 36467j108 22,922 685,885 SH   SOLE   685,385 500 0
GENERAL ELECTRIC CO COM 369604103 392 13,156 SH   SOLE   13,156 0 0
GOLDMAN SACHS INC COM 38141g104 38,287 166,669 SH   SOLE   166,419 250 0
HOME BANCSHARES INC COM 436893200 5,926 218,920 SH   SOLE   218,420 500 0
HOWARD HUGHES CORP COM 44267d107 1,232 10,511 SH   SOLE   10,511 0 0
HUMANA INC COM 444859102 1,154 5,600 SH   SOLE   5,600 0 0
INTUIT COM 461202103 230 1,979 SH   SOLE   1,979 0 0
ISHARES CORE S&P MID CAP ETF COM 464287507 215 1,257 SH   SOLE   1,257 0 0
JOHNSON AND JOHNSON COM 478160104 34,049 273,375 SH   SOLE   272,875 500 0
JPMORGAN CHASE & CO COM 46625h100 16,931 192,745 SH   SOLE   190,293 2,452 0
LAS VEGAS SANDS CORP COM 517834107 3,239 56,750 SH   SOLE   56,750 0 0
LEUCADIA NATL CORP COM 527288104 16,434 632,092 SH   SOLE   630,592 1,500 0
LIVE NATION ENTMT COM 538034109 3,442 113,325 SH   SOLE   113,325 0 0
MARKEL CORP COM COM 570535104 69,180 70,891 SH   SOLE   70,641 250 0
MC DONALDS CORP COM 580135101 809 6,239 SH   SOLE   6,239 0 0
MERCK & CO INC COM 58933y105 361 5,683 SH   SOLE   5,683 0 0
MICROSOFT CORP COM 594918104 309 4,696 SH   SOLE   4,696 0 0
MICROVISION INC WASH COM 594960304 30 12,000 SH   SOLE   12,000 0 0
MONDELEZ INTL CLASS A COM 609207105 302 7,003 SH   SOLE   7,003 0 0
MOODY'S CORP COM 615369105 714 6,371 SH   SOLE   6,371 0 0
NIKE INC CL B COM 654106103 15,807 283,634 SH   SOLE   283,634 0 0
OAKTREE CAP GRP CL A COM 674001201 1,814 40,050 SH   SOLE   40,050 0 0
OCCIDENTAL PETROL CO COM 674599105 2,124 33,527 SH   SOLE   33,527 0 0
PACWEST BANCORP COM 695263103 7,229 135,735 SH   SOLE   135,735 0 0
PEPSICO INC COM 713448108 24,639 220,269 SH   SOLE   219,869 400 0
PFIZER INCORPORATED COM 717081103 486 14,218 SH   SOLE   14,218 0 0
PHILIP MORRIS INTL INC COM 718172109 661 5,859 SH   SOLE   5,859 0 0
PNC FINANCIAL SRVCS COM 693475105 1,007 8,376 SH   SOLE   7,276 1,100 0
PROCTER & GAMBLE COM 742718109 4,329 48,184 SH   SOLE   48,184 0 0
REALOGY HLDGS CORP COM 75605y106 9,123 306,258 SH   SOLE   306,258 0 0
SCHLUMBERGER LTD COM 806857108 24,817 317,763 SH   SOLE   317,163 600 0
SEACOAST BK CORP FLA COM 811707801 1,167 48,650 SH   SOLE   48,650 0 0
SOUTHERN NATL BANCORP COM 843395104 10,825 639,401 SH   SOLE   639,401 0 0
SPDR GOLD TRUST COM 78463v107 237 2,000 SH   SOLE   2,000 0 0
SPDR S&P 500 ETF COM 78462f103 409 1,734 SH   SOLE   1,734 0 0
T ROWE PRICE GROUP INC COM 74144t108 7,132 104,646 SH   SOLE   104,446 200 0
TIFFANY & CO NEW COM 886547108 20,178 211,736 SH   SOLE   211,336 400 0
UNITED PARCEL SRVC CL B COM 911312106 1,221 11,375 SH   SOLE   11,375 0 0
UNITED TECHNOLOGIES COM 913017109 736 6,555 SH   SOLE   6,555 0 0
US BANCORP DEL COM 902973304 722 14,020 SH   SOLE   14,020 0 0
VORNADO REALTY TRUST COM 929042109 22,640 225,702 SH   SOLE   224,952 750 0
WAL-MART STORES INC COM 931142103 389 5,400 SH   SOLE   5,400 0 0
WALT DISNEY CO COM 254687106 3,972 35,033 SH   SOLE   35,033 0 0
WELLS FARGO & CO COM 949746101 29,682 533,282 SH   SOLE   530,532 2,750 0
WHOLE FOODS MKT INC COM 966837106 8,681 292,083 SH   SOLE   292,083 0 0
WINTRUST FINANCIAL COM 97650w108 1,679 24,290 SH   SOLE   24,290 0 0
WYNN RESORTS LTD COM 983134107 28,536 248,982 SH   SOLE   248,282 700 0