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
ACTIVISION BLIZZARD INC COM 00507v109 4 84 SH   DFND 01 02 84 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524a108 5,510 65,622 SH   DFND 01 02 65,622 0 0
APPLE INC COM 037833100 25,081 132,039 SH   DFND 01 02 132,039 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 11,114 55,322 SH   DFND 01 02 55,322 0 0
C H ROBINSON WORLDWIDE INC COM NEW 12541w209 13,057 150,093 SH   DFND 01 02 150,093 0 0
CAMPING WORLD HLDGS INC CL A 13462k109 376 27,020 SH   DFND 01 02 27,020 0 0
CARMAX INC COM 143130102 114 1,640 SH   DFND 01 02 1,640 0 0
COSTAR GROUP INC COM 22160n109 89 190 SH   DFND 01 02 190 0 0
COSTCO WHSL CORP NEW COM 22160k105 5,112 21,110 SH   DFND 01 02 21,110 0 0
FACTSET RESH SYS INC COM 303075105 130 525 SH   DFND 01 02 525 0 0
LANDSTAR SYS INC COM 515098101 4,869 44,515 SH   DFND 01 02 44,515 0 0
MARRIOTT INTL INC NEW CL A 571903202 21,525 172,075 SH   DFND 01 02 172,075 0 0
MICROSOFT CORP COM 594918104 23,738 201,268 SH   DFND 01 02 201,268 0 0
PROGRESSIVE CORP OHIO COM 743315103 21,518 298,493 SH   DFND 01 02 298,493 0 0
QUALCOMM INC COM 747525103 13,011 228,140 SH   DFND 01 02 228,140 0 0
RAVEN INDS INC COM 754212108 9,645 251,374 SH   DFND 01 02 251,374 0 0
RITCHIE BROS AUCTIONEERS COM 767744105 17,668 519,651 SH   DFND 01 02 519,651 0 0
ROPER TECHNOLOGIES INC COM 776696106 2 5 SH   DFND 01 02 5 0 0
SPDR S&P 500 ETF TR TR UNIT 78462f103 191 676 SH   DFND 01 02 676 0 0
STURM RUGER & CO INC COM 864159108 571 10,778 SH   DFND 01 02 10,778 0 0
WELLCARE HEALTH PLANS INC COM 94946t106 1 5 SH   DFND 01 02 5 0 0
AEGEAN MARINE PETE NETWORKINC NOTE 4.000%11/0 y0020qaa9 1 3,000 PRN   DFND 01 02 3,000 0 0