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 CAP STK CL A 02079K305 30,397 25,828 SH   SOLE 0 25,828 0 0
ALPHABET INC CAP STK CL C 02079K107 30,386 25,898 SH   SOLE 0 25,898 0 0
AMAZON COM INC COM 023135106 62,326 35,000 SH   SOLE 0 35,000 0 0
APPLE INC COM 037833100 75,980 400,000 SH   SOLE 0 400,000 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 20,089 100,000 SH   SOLE 0 100,000 0 0
BOEING CO COM 097023105 3,814 10,000 SH   SOLE 0 10,000 0 0
BOOKING HLDGS INC COM 09857L108 2,617 1,500 SH   SOLE 0 1,500 0 0
COSTCO WHSL CORP NEW COM 22160K105 60,535 250,000 SH   SOLE 0 250,000 0 0
DISNEY WALT CO COM DISNEY 254687106 11,103 100,000 SH   SOLE 0 100,000 0 0
FACEBOOK INC CL A 30303M102 75,011 450,000 SH   SOLE 0 450,000 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 2,880 15,000 SH   SOLE 0 15,000 0 0
MARKEL CORP COM 570535104 32,164 32,285 SH   SOLE 0 32,285 0 0
MICROSOFT CORP COM 594918104 9,435 80,000 SH   SOLE 0 80,000 0 0
PAYPAL HLDGS INC COM 70450Y103 51,920 500,000 SH   SOLE 0 500,000 0 0
PULTE GROUP INC COM 745867101 27,960 1,000,000 SH   SOLE 0 1,000,000 0 0
SOUTHWEST AIRLS CO COM 844741108 65,407 1,260,000 SH   SOLE 0 1,260,000 0 0
VALHI INC NEW COM 918905100 796 344,790 SH   SOLE 0 344,790 0 0