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 280 1,327 SH   SOLE   1,327 0 0
ABBOTT LABORATORIES COM 002824100 509 6,945 SH   SOLE   6,945 0 0
ABBVIE INC COM 00287y109 553 5,848 SH   SOLE   5,848 0 0
AFFILIATED MANAGERS GRP COM 008252108 25,670 187,758 SH   SOLE   187,208 550 0
ALLERGAN PLC F COM g0177j108 2,508 13,165 SH   SOLE   13,165 0 0
ALPHABET INC SHS CL A COM 02079k305 19,552 16,198 SH   SOLE   16,198 0 0
ALPHABET INC SHS CL C COM 02079k107 28,545 23,918 SH   SOLE   23,878 40 0
AMAZON.COM INC COM 023135106 25,885 12,923 SH   SOLE   12,883 40 0
AMERICAN EXPRESS CO COM 025816109 25,668 241,039 SH   SOLE   240,064 975 0
AMERICAN TOWER CORP COM 03027x100 3,479 23,943 SH   SOLE   23,943 0 0
ANNALY CAP MGMT INC COM 035710409 317 31,000 SH   SOLE   31,000 0 0
APPLE INC COM 037833100 12,754 56,499 SH   SOLE   56,499 0 0
ASSOCIATED CAPITAL GP COM 045528106 277 6,500 SH   SOLE   6,500 0 0
AUTOMATIC DATA PROCESS COM 053015103 407 2,700 SH   SOLE   2,700 0 0
BANK OF AMERICA CORP COM 060505104 236 8,000 SH   SOLE   8,000 0 0
BAXTER INTL COM 071813109 204 2,648 SH   SOLE   2,648 0 0
BECTON DICKINSON & CO COM 075887109 245 938 SH   SOLE   938 0 0
BERKSHIRE HATHAWAY A COM 084670108 12,160 38 SH   SOLE   38 0 0
BERKSHIRE HATHAWAY B COM 084670702 144,512 674,942 SH   SOLE   671,942 3,000 0
BLACKSTONE GROUP LP COM 09253u108 33,024 867,221 SH   SOLE   865,321 1,900 0
BOEING CO COM 097023105 585 1,572 SH   SOLE   1,572 0 0
BROOKFIELD ASSET MGMT COM 112585104 17,136 384,914 SH   SOLE   384,914 0 0
CARMAX INC COM 143130102 24,487 327,930 SH   SOLE   327,580 350 0
CHEVRON CORPORATION COM 166764100 1,853 15,154 SH   SOLE   15,154 0 0
CHURCHILL DOWNS COM 171484108 3,032 10,918 SH   SOLE   10,918 0 0
COCA COLA COM COM 191216100 14,657 317,310 SH   SOLE   316,310 1,000 0
COSTCO WHOLESALE CO COM 22160k105 727 3,096 SH   SOLE   3,096 0 0
DIAMOND HILL INVT CL A COM 25264r207 13,442 81,272 SH   SOLE   81,097 175 0
DOUGLAS EMMETT INC COM 25960p109 16,824 446,020 SH   SOLE   444,270 1,750 0
ENSTAR GROUP LTD COM g3075p101 22,407 107,470 SH   SOLE   107,120 350 0
ESTEE LAUDER INC COM 518439104 18,339 126,197 SH   SOLE   125,697 500 0
EXXON MOBIL CORP COM 30231g102 27,065 318,340 SH   SOLE   316,540 1,800 0
FACEBOOK INC CL A COM 30303m102 509 3,094 SH   SOLE   3,094 0 0
FAIRFAX FINL HLDGS LTD COM 303901102 1,938 3,568 SH   SOLE   3,568 0 0
FEDEX CORPORATION COM 31428x106 255 1,060 SH   SOLE   1,060 0 0
GAMCO INVS INC COM 361438104 11,580 494,464 SH   SOLE   493,464 1,000 0
GAMING & LEISURE INC COM 36467j108 27,053 767,464 SH   SOLE   766,964 500 0
GOLDMAN SACHS INC COM 38141g104 41,796 186,390 SH   SOLE   185,915 475 0
HOME BANCSHARES INC COM 436893200 41,140 1,878,560 SH   SOLE   1,873,310 5,250 0
HOWARD HUGHES CORP COM 44267d107 1,272 10,236 SH   SOLE   10,236 0 0
HUMANA INC COM 444859102 958 2,830 SH   SOLE   2,830 0 0
ILLINOIS TOOL WORKS INC COM 452308109 272 1,926 SH   SOLE   1,926 0 0
INTUIT COM 461202103 450 1,979 SH   SOLE   1,979 0 0
JEFFERIES FINANCIAL GROUP INC COM 47233W109 15,536 707,468 SH   SOLE   704,968 2,500 0
JOHNSON AND JOHNSON COM 478160104 37,793 273,526 SH   SOLE   273,026 500 0
JPMORGAN CHASE & CO COM 46625h100 20,968 185,824 SH   SOLE   183,372 2,452 0
LAS VEGAS SANDS CORP COM 517834107 1,968 33,165 SH   SOLE   33,165 0 0
LILLY ELI & CO COM 532457108 232 2,162 SH   SOLE   2,162 0 0
LIVE NATION ENTMT COM 538034109 5,764 105,828 SH   SOLE   105,828 0 0
MARKEL CORP COM COM 570535104 81,696 68,739 SH   SOLE   68,489 250 0
MASTERCARD INC. COM 57636q104 217 973 SH   SOLE   973 0 0
MC DONALDS CORP COM 580135101 1,154 6,901 SH   SOLE   6,901 0 0
MERCK & CO INC COM 58933y105 437 6,158 SH   SOLE   6,158 0 0
MGM MIRAGE COM 552953101 7,744 277,475 SH   SOLE   277,475 0 0
MICROSOFT CORP COM 594918104 840 7,345 SH   SOLE   7,345 0 0
MICROVISION INC WASH COM 594960304 15 12,000 SH   SOLE   12,000 0 0
MONDELEZ INTL CLASS A COM 609207105 280 6,508 SH   SOLE   6,508 0 0
MOODY'S CORP COM 615369105 1,065 6,371 SH   SOLE   6,371 0 0
NETFLIX COM INC COM 64110L106 299 800 SH   SOLE   800 0 0
NIKE INC CL B COM 654106103 22,660 267,466 SH   SOLE   267,466 0 0
O'REILLY AUTOMOTIVE INC COM 67103h107 6,537 18,822 SH   SOLE   18,822 0 0
OAKTREE CAP GRP CL A COM 674001201 286 6,900 SH   SOLE   6,900 0 0
OCCIDENTAL PETROL CO COM 674599105 1,240 15,089 SH   SOLE   15,089 0 0
PACWEST BANCORP COM 695263103 13,315 279,429 SH   SOLE   279,429 0 0
PEPSICO INC COM 713448108 22,556 201,753 SH   SOLE   201,353 400 0
PFIZER INCORPORATED COM 717081103 659 14,962 SH   SOLE   14,962 0 0
PHILIP MORRIS INTL INC COM 718172109 326 4,000 SH   SOLE   4,000 0 0
PNC FINANCIAL SRVCS COM 693475105 1,148 8,427 SH   SOLE   7,327 1,100 0
PROCTER & GAMBLE COM 742718109 2,875 34,545 SH   SOLE   34,545 0 0
REALOGY HLDGS CORP COM 75605y106 5,654 273,925 SH   SOLE   273,925 0 0
RED ROCK RESORTS INC COM 75700L108 308 11,550 SH   SOLE   11,550 0 0
SCHLUMBERGER LTD COM 806857108 7,733 126,932 SH   SOLE   126,932 0 0
SEACOAST BK CORP FLA COM 811707801 1,275 43,650 SH   SOLE   43,650 0 0
SELECT BANCORP INC COM 81617L108 174 14,000 SH   SOLE   14,000 0 0
SOUTHERN NATL BANCORP COM 843395104 3,927 242,423 SH   SOLE   242,423 0 0
SPDR S&P 500 ETF COM 78462f103 621 2,136 SH   SOLE   2,136 0 0
T ROWE PRICE GROUP INC COM 74144t108 10,466 95,861 SH   SOLE   95,661 200 0
TIFFANY & CO NEW COM 886547108 22,593 175,178 SH   SOLE   174,778 400 0
UNION PAC CORP COM 907818108 205 1,258 SH   SOLE   1,258 0 0
UNITED PARCEL SRVC CL B COM 911312106 1,030 8,818 SH   SOLE   8,818 0 0
UNITED TECHNOLOGIES COM 913017109 926 6,620 SH   SOLE   6,620 0 0
US BANCORP DEL COM 902973304 690 13,072 SH   SOLE   13,072 0 0
VISA INC COM CLASS A COM 92826C839 283 1,885 SH   SOLE   1,885 0 0
VORNADO REALTY TRUST COM 929042109 23,757 325,440 SH   SOLE   324,690 750 0
WAL-MART STORES INC COM 931142103 439 4,670 SH   SOLE   4,670 0 0
WALT DISNEY CO COM 254687106 4,026 34,427 SH   SOLE   34,427 0 0
WELLS FARGO & CO COM 949746101 28,783 547,631 SH   SOLE   544,881 2,750 0
WESBANCO INC COM 950810101 263 5,896 SH   SOLE   5,896 0 0
WINTRUST FINANCIAL COM 97650w108 1,854 21,833 SH   SOLE   21,833 0 0
WYNN RESORTS LTD COM 983134107 29,090 228,950 SH   SOLE   228,225 725 0