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
ALARM COM HLDGS INC COM 011642105 18,072 400,000 SH   SOLE   400,000 0 0
AMERICAN TOWER CORP NEW COM 03027X100 928,129 6,790,527 SH   SOLE   6,790,527 0 0
AMERICAN TOWER CORP NEW PFD CONV SER B 03027X407 38,389 314,457 SH   SOLE   314,457 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 52,687 287,403 SH   SOLE   287,403 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 11,539 42 SH   SOLE   42 0 0
BOSTON OMAHA CORP COM 101044105 5,425 350,000 SH   SOLE   350,000 0 0
CARMAX INC COM 143130102 390,764 5,154,513 SH   SOLE   5,154,513 0 0
CSX CORP COM 126408103 266 4,899 SH   SOLE   4,899 0 0
DANAHER CORP DEL COM 235851102 141,992 1,655,300 SH   SOLE   1,655,300 0 0
DIAMOND HILL INVESTMENT GROU COM NEW 25264R207 30,897 145,500 SH   SOLE   145,500 0 0
DOLLAR TREE INC COM 256746108 420,017 4,837,794 SH   SOLE   4,837,794 0 0
ENSTAR GROUP LIMITED SHS G3075P101 321,362 1,445,300 SH   SOLE   1,445,300 0 0
LKQ CORP COM 501889208 113,368 3,150,000 SH   SOLE   3,150,000 0 0
LAMAR ADVERTISING CO CL A 512816109 3,326 48,530 SH   SOLE   48,530 0 0
MARKEL CORP COM 570535104 548,245 513,348 SH   SOLE   513,348 0 0
MASTERCARD INC CL A 57636Q104 751,902 5,325,084 SH   SOLE   5,325,084 0 0
MONRO MUFFLER BRAKE INC COM 610236101 89,680 1,600,000 SH   SOLE   1,600,000 0 0
MOODYS CORP COM 615369105 791,309 5,684,286 SH   SOLE   5,684,286 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 407,830 1,893,626 SH   SOLE   1,893,626 0 0
PRIMO WTR CORP COM 74165N105 20,215 1,705,868 SH   SOLE   1,705,868 0 0
ROPER INDS INC NEW COM 776696106 378,333 1,554,366 SH   SOLE   1,554,366 0 0
SBA COMMUNICATIONS CORP COM 78388J106 355,083 2,465,000 SH   SOLE   2,465,000 0 0
TD AMERITRADE HLDG CORP COM 87236Y108 144,814 2,967,500 SH   SOLE   2,967,500 0 0
UBIQUITI NETWORKS INC COM 90347A100 150,134 2,680,000 SH   SOLE   2,680,000 0 0
VERISK ANALYTICS INC CL A 92345Y106 214,709 2,580,946 SH   SOLE   2,580,946 0 0
VISA INC COM CL A 92826C839 514,520 4,889,020 SH   SOLE   4,889,020 0 0