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 377,316 4,007,606 SH   SOLE   4,007,606 0 0
AMERICAN TOWER CORP NEW PFD CONV SER A 03027X308 10,319 100,000 SH   SOLE   100,000 0 0
ANNALY CAP MGMT INC COM 035710409 208 20,044 SH   SOLE   20,044 0 0
ANSYS INC COM 03662Q105 8,845 100,300 SH   SOLE   100,300 0 0
ARLINGTON ASSET INVT CORP CL A NEW 041356205 241 10,000 SH   SOLE   10,000 0 0
BANK OF AMERICA CORPORATION *W EXP 01/16/201 060505146 4,198 715,101 SH   SOLE   715,101 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 42,912 297,340 SH   SOLE   297,340 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 11,310 52 SH   SOLE   52 0 0
CARMAX INC COM 143130102 117,317 1,700,000 SH   SOLE   1,700,000 0 0
COLFAX CORP COM 194014106 280,440 5,875,560 SH   SOLE   5,875,560 0 0
CROWN CASTLE INTL CORP CNV PFD STK SR A 22822V200 2,097 20,000 SH   SOLE   20,000 0 0
CSX CORP COM 126408103 1,421 42,899 SH   SOLE   42,899 0 0
DANAHER CORP DEL COM 235851102 127,350 1,500,000 SH   SOLE   1,500,000 0 0
DIAMOND HILL INVESTMENT GROU COM NEW 25264R207 23,280 145,500 SH   SOLE   145,500 0 0
DISCOVERY COMMUNICATNS NEW COM SER A 25470F302 177,418 6,019,258 SH   SOLE   6,019,258 0 0
DOLLAR TREE INC COM 256746108 283,521 3,494,004 SH   SOLE   3,494,004 0 0
ENSTAR GROUP LIMITED SHS G3075P101 73,763 519,970 SH   SOLE   519,970 0 0
LAMAR ADVERTISING CO CL A 512816109 3,977 67,100 SH   SOLE   67,100 0 0
LIVE NATION ENTERTAINMENT IN COM 538034109 157,544 6,244,313 SH   SOLE   6,244,313 0 0
LPL FINL HLDGS INC COM 50212V100 64,263 1,465,185 SH   SOLE   1,465,185 0 0
MARKEL CORP COM 570535104 391,372 508,963 SH   SOLE   508,963 0 0
MARKWEST ENERGY PARTNERS L P UNIT LTD PARTN 570759100 213 3,215 SH   SOLE   3,215 0 0
MASTERCARD INC CL A 57636Q104 368,145 4,261,426 SH   SOLE   4,261,426 0 0
MONRO MUFFLER BRAKE INC COM 610236101 97,900 1,505,003 SH   SOLE   1,505,003 0 0
MOODYS CORP COM 615369105 364,684 3,513,336 SH   SOLE   3,513,336 0 0
NUSTAR GP HOLDINGS LLC UNIT RESTG LLC 67059L102 694 19,595 SH   SOLE   19,595 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 175,215 810,279 SH   SOLE   810,279 0 0
PRIMO WTR CORP COM 74165N105 8,814 1,685,330 SH   SOLE   1,685,330 0 0
ROPER INDS INC NEW COM 776696106 215,289 1,251,680 SH   SOLE   1,251,680 0 0
SBA COMMUNICATIONS CORP COM 78388J106 140,520 1,200,000 SH   SOLE   1,200,000 0 0
TD AMERITRADE HLDG CORP COM 87236Y108 117,701 3,158,900 SH   SOLE   3,158,900 0 0
UBIQUITI NETWORKS INC COM 90347A100 74,570 2,523,530 SH   SOLE   2,523,530 0 0
VERISK ANALYTICS INC CL A 92345Y106 69,415 972,200 SH   SOLE   972,200 0 0
VISA INC COM CL A 92826C839 149,347 2,283,240 SH   SOLE   2,283,240 0 0
WILLIAMS COS INC DEL COM 969457100 922 18,230 SH   SOLE   18,230 0 0