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 6,478 5,737 SH   DFND   6,478 0 0
ALPHABET INC CL-C CL C 02079K107 34,271 30,718 SH   DFND   34,271 0 0
AMETEK INC COM 031100100 52,026 720,986 SH   DFND   52,026 0 0
BALCHEM CORP COM 057665200 222 2,266 SH   DFND   222 0 0
BANK OF THE OZARKS INC COM 063904106 57,709 1,281,286 SH   DFND   57,709 0 0
BERKSHIRE HATHAWAY-A-NEW CL A 084670108 846 3 SH   DFND   846 0 0
BERKSHIRE HATHAWAY-B-NEW CL B 084670702 142,121 761,430 SH   DFND   142,121 0 0
BROOKFIELD ASSET MGT-A LV CL A 112585104 690 12,938 SH   DFND   690 0 0
CARMAX INC COM 143130102 80,733 1,107,901 SH   DFND   80,733 0 0
CREDIT ACCEP CORP MICH COM 225310101 351 992 SH   DFND   351 0 0
DISNEY WALT COMPANY COM 254687106 30,423 290,271 SH   DFND   30,423 0 0
EDWARDS LIFESCIENCES CORP COM 28176E108 25,112 172,508 SH   DFND   25,112 0 0
FACEBOOK INC CL-A CL A 30303M102 20,340 104,672 SH   DFND   20,340 0 0
FIVE BELOW INC COM 33829M101 1,076 11,009 SH   DFND   1,076 0 0
FORTUNE BRNDS HME&SEC COM 34964C106 17,913 333,639 SH   DFND   17,913 0 0
HANESBRANDS INC COM 410345102 270 12,264 SH   DFND   270 0 0
HEICO CORP CLASS A CL A 422806208 27,969 458,891 SH   DFND   27,969 0 0
JP MORGAN CHASE & CO COM 46625H100 1,538 14,757 SH   DFND   1,538 0 0
LIBERTY MEDIA-C LIB FORM CL C 531229854 24,386 656,785 SH   DFND   24,386 0 0
LITTELFUSE INC COM 537008104 20,842 91,338 SH   SOLE   20,842 0 0
LKQ CORP COM 501889208 12,210 382,743 SH   DFND   12,210 0 0
LULULEMON ATHLETICA INC CO COM 550021109 574 4,600 SH   SOLE   574 0 0
M & T BANK CORP COM 55261F104 19,093 112,212 SH   DFND   19,093 0 0
MARKEL CORP HOLDING COM 570535104 35,045 32,319 SH   DFND   35,045 0 0
MASTERCARD INC CL-A CL A 57636Q104 619 3,149 SH   DFND   619 0 0
MOHAWK INDS INC COM 608190104 23,481 109,587 SH   DFND   23,481 0 0
O'REILLY AUTOMOTIVE COM 67103H107 26,120 95,478 SH   DFND   26,120 0 0
RYANAIR HLDGS PLC COM 783513203 286 2,500 SH   SOLE   286 0 0
SOUTHWEST AIRLINES CO COM 844741108 202 3,961 SH   DFND   202 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,428 5,264 SH   DFND   1,428 0 0
STANTEC INC COM 85472N109 721 21,329 SH   SOLE   721 0 0
UNION PACIFIC CORP COM 907818108 38,667 272,920 SH   DFND   38,667 0 0
VISA INC CLASS-A CL A 92826C839 45,538 343,809 SH   DFND   45,538 0 0
WELLS FARGO CO COM 949746101 18,937 341,577 SH   DFND   18,937 0 0
BOOKING HOLDINGS INC COM 09857L108 101 50 SH   DFND   101 0 0
TJX COMPANIES INC CM COM 872540109 520 5,467 SH   DFND   520 0 0