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

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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 17,618 466,698 SH   SOLE   466,698 0 0
AMERICAN TOWER CORP NEW COM 03027X100 969,041 6,792,187 SH   SOLE   6,792,187 0 0
AMERICAN TOWER CORP NEW PFD CONV SER B 03027X407 39,458 313,782 SH   SOLE   313,782 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 57,115 288,137 SH   SOLE   288,137 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 12,499 42 SH   SOLE   42 0 0
BOSTON OMAHA CORP COM 101044105 11,336 350,000 SH   SOLE   350,000 0 0
CARMAX INC COM 143130102 330,520 5,153,910 SH   SOLE   5,153,910 0 0
DANAHER CORP DEL COM 235851102 153,645 1,655,300 SH   SOLE   1,655,300 0 0
DIAMOND HILL INVESTMENT GROU COM NEW 25264R207 30,069 145,500 SH   SOLE   145,500 0 0
DOLLAR TREE INC COM 256746108 519,447 4,840,619 SH   SOLE   4,840,619 0 0
ENSTAR GROUP LIMITED SHS G3075P101 290,484 1,446,996 SH   SOLE   1,446,996 0 0
LKQ CORP COM 501889208 128,110 3,150,000 SH   SOLE   3,150,000 0 0
LAMAR ADVERTISING CO CL A 512816109 3,603 48,530 SH   SOLE   48,530 0 0
MARKEL CORP COM 570535104 585,425 513,923 SH   SOLE   513,923 0 0
MASTERCARD INC CL A 57636Q104 806,606 5,329,057 SH   SOLE   5,329,057 0 0
MOODYS CORP COM 615369105 839,453 5,686,967 SH   SOLE   5,686,967 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 455,726 1,894,595 SH   SOLE   1,894,595 0 0
PRIMO WTR CORP COM 74165N105 24,049 1,913,220 SH   SOLE   1,913,220 0 0
ROPER INDS INC NEW COM 776696106 402,859 1,555,441 SH   SOLE   1,555,441 0 0
SBA COMMUNICATIONS CORP COM 78388J106 402,682 2,465,000 SH   SOLE   2,465,000 0 0
TD AMERITRADE HLDG CORP COM 87236Y108 151,728 2,967,500 SH   SOLE   2,967,500 0 0
UBIQUITI NETWORKS INC COM 90347A100 190,334 2,680,000 SH   SOLE   2,680,000 0 0
VERISK ANALYTICS INC CL A 92345Y106 247,686 2,580,065 SH   SOLE   2,580,065 0 0
VISA INC COM CL A 92826C839 557,446 4,889,020 SH   SOLE   4,889,020 0 0