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
ALPHABET INC CL-A CL A 02079K305 6,124 5,814 SH   DFND   5,814 0 0
ALPHABET INC CL-C CL C 02079K107 29,127 27,835 SH   DFND   27,835 0 0
AMETEK INC COM 031100100 49,497 682,995 SH   DFND   682,995 0 0
BALCHEM CORP COM 057665200 183 2,266 SH   SOLE   2,266 0 0
BANK OF THE OZARKS INC COM 063904106 58,907 1,215,840 SH   DFND   1,215,840 0 0
BERKSHIRE HATHAWAY-B-NEW CL B 084670702 141,968 716,216 SH   DFND   716,216 0 0
BERKSHIRE HATHAWAY-A-NEW CL A 084670108 893 3 SH   DFND   3 0 0
BROOKFIELD ASSET MGT-A LV CL A 112585104 563 12,938 SH   DFND   12,938 0 0
CARMAX INC COM 143130102 66,237 1,032,850 SH   DFND   1,032,850 0 0
CREDIT ACCEP CORP MICH COM 225310101 19,223 59,426 SH   DFND   59,426 0 0
DISNEY WALT COMPANY COM 254687106 28,719 267,127 SH   DFND   267,127 0 0
EDWARDS LIFESCIENCES CORP COM 28176E108 18,211 161,571 SH   DFND   161,571 0 0
FASTENAL CO COM 311900104 223 4,077 SH   SOLE   4,077 0 0
FIVE BELOW INC COM 33829M101 730 11,009 SH   SOLE   11,009 0 0
FORTUNE BRNDS HME&SEC COM 34964C106 21,043 307,472 SH   DFND   307,472 0 0
HANESBRANDS INC COM 410345102 256 12,264 SH   SOLE   12,264 0 0
HEICO CORP CLASS A CL A 422806208 23,265 294,313 SH   DFND   294,313 0 0
JP MORGAN CHASE & CO COM 46625H100 1,578 14,757 SH   SOLE   14,757 0 0
LIBERTY MEDIA-C LIB FORM CL C 531229854 21,791 637,915 SH   DFND   637,915 0 0
LITTELFUSE INC COM 537008104 301 1,523 SH   SOLE   1,523 0 0
LKQ CORP COM 501889208 37,274 916,503 SH   DFND   916,503 0 0
LULULEMON ATHLETICA INC CO COM 550021109 362 4,600 SH   SOLE   4,600 0 0
M & T BANK CORP COM 55261F104 18,959 110,876 SH   DFND   110,876 0 0
MARKEL CORP HOLDING COM 570535104 35,002 30,727 SH   DFND   30,727 0 0
MASTERCARD INC CL-A CL A 57636Q104 485 3,204 SH   DFND   3,204 0 0
MOHAWK INDS INC COM 608190104 28,662 103,885 SH   DFND   103,885 0 0
O'REILLY AUTOMOTIVE COM 67103H107 22,322 92,798 SH   DFND   92,798 0 0
RYANAIR HLDGS PLC COM 783513203 260 2,500 SH   SOLE   2,500 0 0
SOUTHWEST AIRLINES CO COM 844741108 259 3,961 SH   SOLE   3,961 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,426 5,344 SH   DFND   5,344 0 0
STANTEC INC COM 85472N109 596 21,329 SH   SOLE   21,329 0 0
TJX COMPANIES INC CM COM 872540109 164 2,141 SH   DFND   2,141 0 0
UNION PACIFIC CORP COM 907818108 35,876 267,529 SH   DFND   267,529 0 0
VISA INC CLASS-A CL A 92826C839 38,164 334,714 SH   DFND   334,714 0 0
WELLS FARGO CO COM 949746101 20,262 333,964 SH   DFND   333,964 0 0