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 262 1,333 SH   SOLE   1,333 0 0
ABBOTT LABORATORIES COM 002824100 442 7,245 SH   SOLE   7,245 0 0
ABBVIE INC COM 00287y109 560 6,048 SH   SOLE   6,048 0 0
AFFILIATED MANAGERS GRP COM 008252108 24,721 166,281 SH   SOLE   165,881 400 0
ALLERGAN PLC F COM g0177j108 2,367 14,200 SH   SOLE   14,200 0 0
ALPHABET INC SHS CL A COM 02079k305 18,299 16,205 SH   SOLE   16,205 0 0
ALPHABET INC SHS CL C COM 02079k107 26,779 24,003 SH   SOLE   23,963 40 0
AMAZON.COM INC COM 023135106 22,148 13,030 SH   SOLE   12,990 40 0
AMERICAN EXPRESS CO COM 025816109 24,346 248,425 SH   SOLE   247,450 975 0
AMERICAN TOWER CORP COM 03027x100 3,523 24,434 SH   SOLE   24,434 0 0
ANNALY CAP MGMT INC COM 035710409 326 31,650 SH   SOLE   31,650 0 0
APPLE INC COM 037833100 10,795 58,316 SH   SOLE   58,316 0 0
ASSOCIATED CAPITAL GP COM 045528106 247 6,500 SH   SOLE   6,500 0 0
AUTOMATIC DATA PROCESS COM 053015103 362 2,700 SH   SOLE   2,700 0 0
BANK OF AMERICA CORP COM 060505104 251 8,900 SH   SOLE   8,900 0 0
BECTON DICKINSON & CO COM 075887109 225 938 SH   SOLE   938 0 0
BERKSHIRE HATHAWAY A COM 084670108 10,718 38 SH   SOLE   38 0 0
BERKSHIRE HATHAWAY B COM 084670702 129,218 692,301 SH   SOLE   689,301 3,000 0
BLACKSTONE GROUP LP COM 09253u108 28,205 876,746 SH   SOLE   874,846 1,900 0
BOEING CO COM 097023105 527 1,572 SH   SOLE   1,572 0 0
BROOKFIELD ASSET MGMT COM 112585104 15,403 385,064 SH   SOLE   385,064 0 0
CARMAX INC COM 143130102 24,194 332,020 SH   SOLE   331,670 350 0
CHEVRON CORPORATION COM 166764100 2,159 17,076 SH   SOLE   17,076 0 0
CHURCHILL DOWNS COM 171484108 3,237 10,918 SH   SOLE   10,918 0 0
COCA COLA COM COM 191216100 14,988 341,729 SH   SOLE   340,729 1,000 0
COSTCO WHOLESALE CO COM 22160k105 647 3,096 SH   SOLE   3,096 0 0
DIAMOND HILL INVT CL A COM 25264r207 12,076 62,112 SH   SOLE   62,012 100 0
DOUGLAS EMMETT INC COM 25960p109 18,493 460,248 SH   SOLE   458,248 2,000 0
ENSTAR GROUP LTD COM g3075p101 23,866 115,127 SH   SOLE   114,727 400 0
ESTEE LAUDER INC COM 518439104 18,082 126,722 SH   SOLE   126,222 500 0
EXXON MOBIL CORP COM 30231g102 27,573 333,290 SH   SOLE   331,282 2,008 0
FACEBOOK INC CL A COM 30303m102 601 3,094 SH   SOLE   3,094 0 0
FAIRFAX FINL HLDGS LTD COM 303901102 2,693 4,807 SH   SOLE   4,807 0 0
FARMERS CAP BK CORP COM 309562106 292 5,600 SH   SOLE   5,600 0 0
FEDEX CORPORATION COM 31428x106 241 1,060 SH   SOLE   1,060 0 0
GAMCO INVS INC COM 361438104 13,871 518,330 SH   SOLE   516,730 1,600 0
GAMING & LEISURE INC COM 36467j108 27,238 760,839 SH   SOLE   760,339 500 0
GENERAL GROWTH PPTYS INC COM 370023103 474 23,225 SH   SOLE   23,225 0 0
GOLDMAN SACHS INC COM 38141g104 36,754 166,632 SH   SOLE   166,382 250 0
HOME BANCSHARES INC COM 436893200 39,829 1,765,471 SH   SOLE   1,760,471 5,000 0
HOWARD HUGHES CORP COM 44267d107 1,363 10,286 SH   SOLE   10,286 0 0
HUMANA INC COM 444859102 952 3,200 SH   SOLE   3,200 0 0
ILLINOIS TOOL WORKS INC COM 452308109 267 1,926 SH   SOLE   1,926 0 0
INTUIT COM 461202103 404 1,979 SH   SOLE   1,979 0 0
JBG SMITH PROP COM 46590V100 1,341 36,761 SH   SOLE   36,761 0 0
JEFFERIES FINANCIAL GROUP INC COM 47233W109 14,398 633,175 SH   SOLE   630,675 2,500 0
JOHNSON AND JOHNSON COM 478160104 33,256 274,071 SH   SOLE   273,571 500 0
JPMORGAN CHASE & CO COM 46625h100 19,594 188,043 SH   SOLE   185,591 2,452 0
LAS VEGAS SANDS CORP COM 517834107 2,857 37,410 SH   SOLE   37,410 0 0
LIVE NATION ENTMT COM 538034109 5,261 108,328 SH   SOLE   108,328 0 0
MARKEL CORP COM COM 570535104 75,235 69,383 SH   SOLE   69,133 250 0
MC DONALDS CORP COM 580135101 1,080 6,895 SH   SOLE   6,895 0 0
MERCK & CO INC COM 58933y105 372 6,133 SH   SOLE   6,133 0 0
MGM MIRAGE COM 552953101 4,288 147,700 SH   SOLE   147,700 0 0
MICROSOFT CORP COM 594918104 749 7,592 SH   SOLE   7,592 0 0
MICROVISION INC WASH COM 594960304 13 12,000 SH   SOLE   12,000 0 0
MONDELEZ INTL CLASS A COM 609207105 266 6,481 SH   SOLE   6,481 0 0
MOODY'S CORP COM 615369105 1,087 6,371 SH   SOLE   6,371 0 0
NETFLIX COM INC COM 64110L106 391 1,000 SH   SOLE   1,000 0 0
NIKE INC CL B COM 654106103 21,528 270,177 SH   SOLE   270,177 0 0
O'REILLY AUTOMOTIVE INC COM 67103h107 6,155 22,498 SH   SOLE   22,498 0 0
OAKTREE CAP GRP CL A COM 674001201 616 15,150 SH   SOLE   15,150 0 0
OCCIDENTAL PETROL CO COM 674599105 1,512 18,072 SH   SOLE   18,072 0 0
PACWEST BANCORP COM 695263103 7,077 143,209 SH   SOLE   143,209 0 0
PEPSICO INC COM 713448108 22,274 204,592 SH   SOLE   204,192 400 0
PFIZER INCORPORATED COM 717081103 542 14,930 SH   SOLE   14,930 0 0
PHILIP MORRIS INTL INC COM 718172109 457 5,662 SH   SOLE   5,662 0 0
PNC FINANCIAL SRVCS COM 693475105 1,141 8,449 SH   SOLE   7,349 1,100 0
PROCTER & GAMBLE COM 742718109 2,773 35,520 SH   SOLE   35,520 0 0
REALOGY HLDGS CORP COM 75605y106 6,878 301,675 SH   SOLE   301,675 0 0
RED ROCK RESORTS INC COM 75700L108 543 16,200 SH   SOLE   16,200 0 0
SCHLUMBERGER LTD COM 806857108 9,674 144,316 SH   SOLE   144,316 0 0
SEACOAST BK CORP FLA COM 811707801 1,378 43,650 SH   SOLE   43,650 0 0
SOUTHERN NATL BANCORP COM 843395104 6,295 352,871 SH   SOLE   352,871 0 0
SPDR S&P 500 ETF COM 78462f103 647 2,386 SH   SOLE   2,386 0 0
T ROWE PRICE GROUP INC COM 74144t108 11,425 98,411 SH   SOLE   98,211 200 0
TIFFANY & CO NEW COM 886547108 25,344 192,586 SH   SOLE   192,186 400 0
UNITED PARCEL SRVC CL B COM 911312106 940 8,846 SH   SOLE   8,846 0 0
UNITED TECHNOLOGIES COM 913017109 828 6,620 SH   SOLE   6,620 0 0
US BANCORP DEL COM 902973304 686 13,722 SH   SOLE   13,722 0 0
VISA INC COM CLASS A COM 92826C839 248 1,875 SH   SOLE   1,875 0 0
VORNADO REALTY TRUST COM 929042109 24,459 330,890 SH   SOLE   330,140 750 0
WAL-MART STORES INC COM 931142103 445 5,200 SH   SOLE   5,200 0 0
WALT DISNEY CO COM 254687106 3,748 35,759 SH   SOLE   35,759 0 0
WELLS FARGO & CO COM 949746101 30,527 550,631 SH   SOLE   547,881 2,750 0
WINTRUST FINANCIAL COM 97650w108 1,909 21,933 SH   SOLE   21,933 0 0
WYNN RESORTS LTD COM 983134107 27,759 165,885 SH   SOLE   165,360 525 0