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 18,247 483,487 SH   SOLE   483,487 0 0
AMERICAN TOWER CORP NEW COM 03027X100 1,025,550 7,056,211 SH   SOLE   7,056,211 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 57,393 287,713 SH   SOLE   287,713 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 12,562 42 SH   SOLE   42 0 0
BOSTON OMAHA CORP COM 101044105 7,651 350,000 SH   SOLE   350,000 0 0
CARMAX INC COM 143130102 319,745 5,162,166 SH   SOLE   5,162,166 0 0
DANAHER CORP DEL COM 235851102 162,070 1,655,300 SH   SOLE   1,655,300 0 0
DIAMOND HILL INVESTMENT GROU COM NEW 25264R207 30,054 145,500 SH   SOLE   145,500 0 0
DOLLAR TREE INC COM 256746108 459,018 4,836,865 SH   SOLE   4,836,865 0 0
ENSTAR GROUP LIMITED SHS G3075P101 295,377 1,404,884 SH   SOLE   1,404,884 0 0
KKR & CO L P DEL COM UNITS 48248M102 97,440 4,800,000 SH   SOLE   4,800,000 0 0
LKQ CORP COM 501889208 119,542 3,150,000 SH   SOLE   3,150,000 0 0
LAMAR ADVERTISING CO CL A 512816109 3,089 48,530 SH   SOLE   48,530 0 0
MARKEL CORP COM 570535104 600,655 513,271 SH   SOLE   513,271 0 0
MASTERCARD INC CL A 57636Q104 932,338 5,322,781 SH   SOLE   5,322,781 0 0
MOODYS CORP COM 615369105 916,959 5,684,806 SH   SOLE   5,684,806 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 468,453 1,893,659 SH   SOLE   1,893,659 0 0
PRIMO WTR CORP COM 74165N105 22,404 1,913,220 SH   SOLE   1,913,220 0 0
ROPER INDS INC NEW COM 776696106 436,731 1,555,919 SH   SOLE   1,555,919 0 0
SBA COMMUNICATIONS CORP COM 78388J106 421,318 2,465,000 SH   SOLE   2,465,000 0 0
TD AMERITRADE HLDG CORP COM 87236Y108 176,777 2,984,578 SH   SOLE   2,984,578 0 0
UBIQUITI NETWORKS INC COM 90347A100 184,384 2,680,000 SH   SOLE   2,680,000 0 0
VERISK ANALYTICS INC CL A 92345Y106 267,273 2,569,932 SH   SOLE   2,569,932 0 0
VISA INC COM CL A 92826C839 584,615 4,887,270 SH   SOLE   4,887,270 0 0