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 304 1,383 SH   SOLE   1,383 0 0
ABBOTT LABORATORIES COM 002824100 439 7,328 SH   SOLE   7,328 0 0
ABBVIE INC COM 00287y109 572 6,048 SH   SOLE   6,048 0 0
AFFILIATED MANAGERS GRP COM 008252108 28,798 151,902 SH   SOLE   151,502 400 0
ALLERGAN PLC F COM g0177j108 2,426 14,415 SH   SOLE   14,415 0 0
ALPHABET INC SHS CL A COM 02079k305 16,807 16,205 SH   SOLE   16,205 0 0
ALPHABET INC SHS CL C COM 02079k107 23,909 23,172 SH   SOLE   23,132 40 0
AMAZON.COM INC COM 023135106 18,891 13,052 SH   SOLE   13,012 40 0
AMERICAN EXPRESS CO COM 025816109 23,340 250,211 SH   SOLE   249,236 975 0
AMERICAN TOWER CORP COM 03027x100 3,533 24,309 SH   SOLE   24,309 0 0
ANNALY CAP MGMT INC COM 035710409 330 31,650 SH   SOLE   31,650 0 0
APPLE INC COM 037833100 9,860 58,766 SH   SOLE   58,766 0 0
ASSOCIATED CAPITAL GP COM 045528106 243 6,500 SH   SOLE   6,500 0 0
AUTOMATIC DATA PROCESS COM 053015103 311 2,737 SH   SOLE   2,737 0 0
BANK OF AMERICA CORP COM 060505104 267 8,900 SH   SOLE   8,900 0 0
BECTON DICKINSON & CO COM 075887109 203 938 SH   SOLE   938 0 0
BERKSHIRE HATHAWAY A COM 084670108 11,366 38 SH   SOLE   38 0 0
BERKSHIRE HATHAWAY B COM 084670702 137,451 689,046 SH   SOLE   686,046 3,000 0
BLACKSTONE GROUP LP COM 09253u108 27,883 872,696 SH   SOLE   870,796 1,900 0
BOEING CO COM 097023105 515 1,572 SH   SOLE   1,572 0 0
BROOKFIELD ASSET MGMT COM 112585104 14,949 385,589 SH   SOLE   385,589 0 0
CARMAX INC COM 143130102 20,644 333,295 SH   SOLE   332,945 350 0
CHEVRON CORPORATION COM 166764100 1,999 17,527 SH   SOLE   17,527 0 0
CHURCHILL DOWNS COM 171484108 2,683 10,993 SH   SOLE   10,993 0 0
COCA COLA COM COM 191216100 15,678 360,999 SH   SOLE   359,999 1,000 0
COSTCO WHOLESALE CO COM 22160k105 583 3,096 SH   SOLE   3,096 0 0
DIAMOND HILL INVT CL A COM 25264r207 11,161 54,034 SH   SOLE   54,034 0 0
DOUGLAS EMMETT INC COM 25960p109 16,987 462,098 SH   SOLE   460,098 2,000 0
ENSTAR GROUP LTD COM g3075p101 25,130 119,524 SH   SOLE   119,124 400 0
ESTEE LAUDER INC COM 518439104 19,181 128,115 SH   SOLE   127,615 500 0
EXXON MOBIL CORP COM 30231g102 25,176 337,431 SH   SOLE   335,423 2,008 0
FACEBOOK INC CL A COM 30303m102 494 3,094 SH   SOLE   3,094 0 0
FAIRFAX FINL HLDGS LTD COM 303901102 2,692 5,312 SH   SOLE   5,312 0 0
FARMERS CAP BK CORP COM 309562106 229 5,738 SH   SOLE   5,738 0 0
FEDEX CORPORATION COM 31428x106 303 1,260 SH   SOLE   1,260 0 0
GAMCO INVS INC COM 361438104 13,237 533,112 SH   SOLE   531,512 1,600 0
GAMING & LEISURE INC COM 36467j108 25,528 762,703 SH   SOLE   762,203 500 0
GENERAL GROWTH PPTYS INC COM 370023103 516 25,225 SH   SOLE   25,225 0 0
GOLDMAN SACHS INC COM 38141g104 41,359 164,216 SH   SOLE   163,966 250 0
HALIBURTON CO COM 406216101 204 4,337 SH   SOLE   4,337 0 0
HOME BANCSHARES INC COM 436893200 37,290 1,634,788 SH   SOLE   1,630,788 4,000 0
HOWARD HUGHES CORP COM 44267d107 1,452 10,436 SH   SOLE   10,436 0 0
HUMANA INC COM 444859102 941 3,500 SH   SOLE   3,500 0 0
ILLINOIS TOOL WORKS INC COM 452308109 341 2,176 SH   SOLE   2,176 0 0
INTUIT COM 461202103 343 1,979 SH   SOLE   1,979 0 0
JBG SMITH PROP COM 46590V100 1,810 53,682 SH   SOLE   53,682 0 0
JOHNSON AND JOHNSON COM 478160104 34,783 271,426 SH   SOLE   270,926 500 0
JPMORGAN CHASE & CO COM 46625h100 20,679 188,043 SH   SOLE   185,591 2,452 0
KIMBERLY-CLARK CORP COM 494368103 201 1,829 SH   SOLE   1,829 0 0
LAS VEGAS SANDS CORP COM 517834107 3,028 42,110 SH   SOLE   42,110 0 0
LEUCADIA NATL CORP COM 527288104 9,883 434,782 SH   SOLE   433,282 1,500 0
LIVE NATION ENTMT COM 538034109 4,578 108,628 SH   SOLE   108,628 0 0
MARKEL CORP COM COM 570535104 79,951 68,320 SH   SOLE   68,070 250 0
MC DONALDS CORP COM 580135101 1,078 6,895 SH   SOLE   6,895 0 0
MERCK & CO INC COM 58933y105 334 6,133 SH   SOLE   6,133 0 0
MICROSOFT CORP COM 594918104 693 7,592 SH   SOLE   7,592 0 0
MICROVISION INC WASH COM 594960304 14 12,000 SH   SOLE   12,000 0 0
MONDELEZ INTL CLASS A COM 609207105 270 6,481 SH   SOLE   6,481 0 0
MOODY'S CORP COM 615369105 1,028 6,371 SH   SOLE   6,371 0 0
NETFLIX COM INC COM 64110L106 295 1,000 SH   SOLE   1,000 0 0
NIKE INC CL B COM 654106103 18,005 270,997 SH   SOLE   270,997 0 0
O'REILLY AUTOMOTIVE INC COM 67103h107 5,856 23,673 SH   SOLE   23,673 0 0
OAKTREE CAP GRP CL A COM 674001201 1,166 29,450 SH   SOLE   29,450 0 0
OCCIDENTAL PETROL CO COM 674599105 1,765 27,164 SH   SOLE   27,164 0 0
PACWEST BANCORP COM 695263103 7,086 143,059 SH   SOLE   143,059 0 0
PEPSICO INC COM 713448108 22,473 205,892 SH   SOLE   205,492 400 0
PFIZER INCORPORATED COM 717081103 530 14,930 SH   SOLE   14,930 0 0
PHILIP MORRIS INTL INC COM 718172109 579 5,828 SH   SOLE   5,828 0 0
PIMCO ENHAN SHRT MATURITY COM 72201R833 330 3,250 SH   SOLE   3,250 0 0
PNC FINANCIAL SRVCS COM 693475105 1,278 8,449 SH   SOLE   7,349 1,100 0
PROCTER & GAMBLE COM 742718109 2,891 36,466 SH   SOLE   36,466 0 0
REALOGY HLDGS CORP COM 75605y106 8,052 295,150 SH   SOLE   295,150 0 0
SCHLUMBERGER LTD COM 806857108 9,469 146,166 SH   SOLE   146,166 0 0
SEACOAST BK CORP FLA COM 811707801 1,155 43,650 SH   SOLE   43,650 0 0
SOUTHERN NATL BANCORP COM 843395104 8,144 514,124 SH   SOLE   514,124 0 0
SPDR S&P 500 ETF COM 78462f103 766 2,912 SH   SOLE   2,912 0 0
T ROWE PRICE GROUP INC COM 74144t108 10,879 100,761 SH   SOLE   100,561 200 0
TIFFANY & CO NEW COM 886547108 19,588 200,569 SH   SOLE   200,169 400 0
UNITED PARCEL SRVC CL B COM 911312106 994 9,493 SH   SOLE   9,493 0 0
UNITED TECHNOLOGIES COM 913017109 833 6,620 SH   SOLE   6,620 0 0
US BANCORP DEL COM 902973304 693 13,722 SH   SOLE   13,722 0 0
VISA INC COM CLASS A COM 92826C839 233 1,945 SH   SOLE   1,945 0 0
VORNADO REALTY TRUST COM 929042109 22,074 328,000 SH   SOLE   327,250 750 0
WAL-MART STORES INC COM 931142103 463 5,200 SH   SOLE   5,200 0 0
WALT DISNEY CO COM 254687106 3,592 35,759 SH   SOLE   35,759 0 0
WELLS FARGO & CO COM 949746101 26,685 509,165 SH   SOLE   506,415 2,750 0
WINTRUST FINANCIAL COM 97650w108 1,902 22,104 SH   SOLE   22,104 0 0
WYNN RESORTS LTD COM 983134107 30,336 166,355 SH   SOLE   165,830 525 0