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 323 1,550 SH   SOLE   1,550 0 0
ABBOTT LABORATORIES COM 002824100 267 5,500 SH   SOLE   5,500 0 0
ABBVIE INC COM 00287y109 416 5,739 SH   SOLE   5,739 0 0
AFFILIATED MANAGERS GRP COM 008252108 25,356 152,875 SH   SOLE   152,475 400 0
ALPHABET INC SHS CL A COM 02079k305 15,217 16,368 SH   SOLE   16,368 0 0
ALPHABET INC SHS CL C COM 02079k107 21,850 24,044 SH   SOLE   24,004 40 0
ALTRIA GROUP INC COM 02209s103 294 3,951 SH   SOLE   3,951 0 0
AMAZON.COM INC COM 023135106 12,772 13,194 SH   SOLE   13,154 40 0
AMERICAN EXPRESS CO COM 025816109 24,379 289,396 SH   SOLE   288,096 1,300 0
AMERICAN TOWER CORP COM 03027x100 3,217 24,309 SH   SOLE   24,309 0 0
ANNALY CAP MGMT INC COM 035710409 381 31,650 SH   SOLE   31,650 0 0
APPLE INC COM 037833100 8,822 61,258 SH   SOLE   61,258 0 0
ASSOCIATED CAPITAL GP COM 045528106 245 7,200 SH   SOLE   7,200 0 0
AUTOMATIC DATA PROCESS COM 053015103 225 2,200 SH   SOLE   2,200 0 0
BANK OF AMERICA CORP COM 060505104 235 9,696 SH   SOLE   9,696 0 0
BERKSHIRE HATHAWAY A COM 084670108 9,679 38 SH   SOLE   38 0 0
BERKSHIRE HATHAWAY B COM 084670702 123,422 728,712 SH   SOLE   725,712 3,000 0
BLACKSTONE GROUP LP COM 09253u108 28,786 863,162 SH   SOLE   861,262 1,900 0
BOEING CO COM 097023105 277 1,399 SH   SOLE   1,399 0 0
BP PLC COM 055622104 297 8,585 SH   SOLE   8,585 0 0
BROOKFIELD ASSET MGMT COM 112585104 14,103 359,318 SH   SOLE   359,318 0 0
CARMAX INC COM 143130102 17,496 277,456 SH   SOLE   277,106 350 0
CHEVRON CORPORATION COM 166764100 1,771 16,971 SH   SOLE   16,971 0 0
CHURCHILL DOWNS COM 171484108 6,707 36,593 SH   SOLE   36,593 0 0
COCA COLA COM COM 191216100 19,388 432,279 SH   SOLE   431,279 1,000 0
COSTCO WHOLESALE CO COM 22160k105 482 3,015 SH   SOLE   3,015 0 0
DIAMOND HILL INVT CL A COM 25264r207 1,107 5,550 SH   SOLE   5,550 0 0
DOUGLAS EMMETT INC COM 25960p109 18,387 481,205 SH   SOLE   479,205 2,000 0
ENBRIDGE INC COM 29250n105 263 6,610 SH   SOLE   6,610 0 0
ENSTAR GROUP LTD COM g3075p101 27,584 138,855 SH   SOLE   138,455 400 0
ESTEE LAUDER INC COM 518439104 12,974 135,173 SH   SOLE   134,673 500 0
EXXON MOBIL CORP COM 30231g102 28,282 350,332 SH   SOLE   348,324 2,008 0
FACEBOOK INC CL A COM 30303m102 395 2,614 SH   SOLE   2,614 0 0
FAIRFAX FINL HLDGS LTD COM 303901102 2,623 6,052 SH   SOLE   6,052 0 0
FARMERS CAP BK CORP COM 309562106 221 5,738 SH   SOLE   5,738 0 0
FEDEX CORPORATION COM 31428x106 261 1,200 SH   SOLE   1,200 0 0
GAMCO INVS INC COM 361438104 15,666 529,250 SH   SOLE   527,650 1,600 0
GAMING & LEISURE INC COM 36467j108 25,583 679,124 SH   SOLE   678,624 500 0
GENERAL ELECTRIC CO COM 369604103 290 10,752 SH   SOLE   10,752 0 0
GENERAL GROWTH PPTYS INC COM 370023103 813 34,500 SH   SOLE   34,500 0 0
GOLDMAN SACHS INC COM 38141g104 37,353 168,334 SH   SOLE   168,084 250 0
HOME BANCSHARES INC COM 436893200 5,389 216,420 SH   SOLE   215,920 500 0
HOWARD HUGHES CORP COM 44267d107 1,291 10,511 SH   SOLE   10,511 0 0
HUMANA INC COM 444859102 1,011 4,200 SH   SOLE   4,200 0 0
INTUIT COM 461202103 263 1,979 SH   SOLE   1,979 0 0
JOHNSON AND JOHNSON COM 478160104 35,664 269,589 SH   SOLE   269,089 500 0
JPMORGAN CHASE & CO COM 46625h100 17,541 191,912 SH   SOLE   189,460 2,452 0
LAS VEGAS SANDS CORP COM 517834107 3,006 47,050 SH   SOLE   47,050 0 0
LEUCADIA NATL CORP COM 527288104 15,253 583,064 SH   SOLE   581,564 1,500 0
LIVE NATION ENTMT COM 538034109 3,942 113,125 SH   SOLE   113,125 0 0
MARKEL CORP COM COM 570535104 68,403 70,095 SH   SOLE   69,845 250 0
MC DONALDS CORP COM 580135101 956 6,239 SH   SOLE   6,239 0 0
MERCK & CO INC COM 58933y105 399 6,231 SH   SOLE   6,231 0 0
MICROSOFT CORP COM 594918104 338 4,902 SH   SOLE   4,902 0 0
MICROVISION INC WASH COM 594960304 25 12,000 SH   SOLE   12,000 0 0
MONDELEZ INTL CLASS A COM 609207105 279 6,457 SH   SOLE   6,457 0 0
MOODY'S CORP COM 615369105 775 6,371 SH   SOLE   6,371 0 0
NIKE INC CL B COM 654106103 16,708 283,184 SH   SOLE   283,184 0 0
O'REILLY AUTOMOTIVE INC COM 686091109 1,559 7,126 SH   SOLE   7,126 0 0
OAKTREE CAP GRP CL A COM 674001201 1,810 38,850 SH   SOLE   38,850 0 0
OCCIDENTAL PETROL CO COM 674599105 1,854 30,965 SH   SOLE   30,965 0 0
PACWEST BANCORP COM 695263103 6,306 135,035 SH   SOLE   135,035 0 0
PEPSICO INC COM 713448108 24,874 215,376 SH   SOLE   214,976 400 0
PFIZER INCORPORATED COM 717081103 478 14,218 SH   SOLE   14,218 0 0
PHILIP MORRIS INTL INC COM 718172109 677 5,762 SH   SOLE   5,762 0 0
PNC FINANCIAL SRVCS COM 693475105 1,042 8,346 SH   SOLE   7,246 1,100 0
PROCTER & GAMBLE COM 742718109 3,492 40,074 SH   SOLE   40,074 0 0
REALOGY HLDGS CORP COM 75605y106 9,862 303,908 SH   SOLE   303,908 0 0
SCHLUMBERGER LTD COM 806857108 20,946 318,128 SH   SOLE   317,528 600 0
SEACOAST BK CORP FLA COM 811707801 1,112 46,150 SH   SOLE   46,150 0 0
SOUTHERN NATL BANCORP COM 843395104 11,090 630,135 SH   SOLE   630,135 0 0
SPDR GOLD TRUST COM 78463v107 236 2,000 SH   SOLE   2,000 0 0
SPDR S&P 500 ETF COM 78462f103 419 1,734 SH   SOLE   1,734 0 0
STONEGATE BK FT LAUDERDALE FL COM 861811107 10,413 225,494 SH   SOLE   224,594 900 0
T ROWE PRICE GROUP INC COM 74144t108 7,963 107,303 SH   SOLE   107,103 200 0
TAUBMAN CTRS INC COM 876664103 533 8,950 SH   SOLE   8,950 0 0
TIFFANY & CO NEW COM 886547108 19,640 209,226 SH   SOLE   208,826 400 0
UNITED PARCEL SRVC CL B COM 911312106 1,157 10,459 SH   SOLE   10,459 0 0
UNITED TECHNOLOGIES COM 913017109 795 6,507 SH   SOLE   6,507 0 0
US BANCORP DEL COM 902973304 728 14,020 SH   SOLE   14,020 0 0
VORNADO REALTY TRUST COM 929042109 23,943 254,987 SH   SOLE   254,237 750 0
WAL-MART STORES INC COM 931142103 394 5,200 SH   SOLE   5,200 0 0
WALT DISNEY CO COM 254687106 3,722 35,033 SH   SOLE   35,033 0 0
WELLS FARGO & CO COM 949746101 29,245 527,787 SH   SOLE   525,037 2,750 0
WINTRUST FINANCIAL COM 97650w108 1,819 23,790 SH   SOLE   23,790 0 0
WYNN RESORTS LTD COM 983134107 32,827 244,757 SH   SOLE   244,057 700 0