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 231 1,111 SH   SOLE   1,111 0 0
ABBOTT LABORATORIES COM 002824100 482 6,024 SH   SOLE   6,024 0 0
ABBVIE INC COM 00287y109 541 6,717 SH   SOLE   6,717 0 0
AFFILIATED MANAGERS GRP COM 008252108 17,286 161,382 SH   SOLE   160,832 550 0
ALLERGAN PLC F COM g0177j108 1,870 12,775 SH   SOLE   12,775 0 0
ALPHABET INC SHS CL A COM 02079k305 18,746 15,928 SH   SOLE   15,928 0 0
ALPHABET INC SHS CL C COM 02079k107 33,254 28,342 SH   SOLE   28,272 70 0
AMAZON.COM INC COM 023135106 25,846 14,514 SH   SOLE   14,474 40 0
AMERICAN EXPRESS CO COM 025816109 23,368 213,797 SH   SOLE   212,822 975 0
AMERICAN TOWER CORP COM 03027x100 4,526 22,968 SH   SOLE   22,968 0 0
ANNALY CAP MGMT INC COM 035710409 250 25,000 SH   SOLE   25,000 0 0
APPLE INC COM 037833100 12,115 63,782 SH   SOLE   63,782 0 0
AUTOMATIC DATA PROCESS COM 053015103 252 1,575 SH   SOLE   1,575 0 0
BAXTER INTL COM 071813109 215 2,648 SH   SOLE   2,648 0 0
BECTON DICKINSON & CO COM 075887109 234 938 SH   SOLE   938 0 0
BERKSHIRE HATHAWAY A COM 084670108 11,145 37 SH   SOLE   37 0 0
BERKSHIRE HATHAWAY B COM 084670702 139,575 694,783 SH   SOLE   691,783 3,000 0
BLACKSTONE GROUP LP COM 09253u108 30,768 879,828 SH   SOLE   877,928 1,900 0
BOEING CO COM 097023105 619 1,622 SH   SOLE   1,622 0 0
BROOKFIELD ASSET MGMT COM 112585104 27,089 580,680 SH   SOLE   579,280 1,400 0
CARMAX INC COM 143130102 23,035 330,009 SH   SOLE   329,659 350 0
CHEVRON CORPORATION COM 166764100 1,351 10,968 SH   SOLE   10,968 0 0
CHURCHILL DOWNS COM 171484108 2,947 32,654 SH   SOLE   32,654 0 0
CINTAS CORP COM 172908105 202 1,000 SH   SOLE   1,000 0 0
COCA COLA COM COM 191216100 8,118 173,238 SH   SOLE   172,738 500 0
COSTCO WHOLESALE CO COM 22160k105 766 3,164 SH   SOLE   3,164 0 0
DIAMOND HILL INVT CL A COM 25264r207 11,696 83,542 SH   SOLE   83,367 175 0
DOUGLAS EMMETT INC COM 25960p109 17,940 443,847 SH   SOLE   442,097 1,750 0
ENSTAR GROUP LTD COM g3075p101 18,115 104,110 SH   SOLE   103,760 350 0
ESTEE LAUDER INC COM 518439104 20,268 122,428 SH   SOLE   121,928 500 0
EXXON MOBIL CORP COM 30231g102 9,284 114,896 SH   SOLE   113,596 1,300 0
FACEBOOK INC CL A COM 30303m102 279 1,672 SH   SOLE   1,672 0 0
GAMCO INVS INC COM 361438104 5,260 256,564 SH   SOLE   255,564 1,000 0
GAMING & LEISURE INC COM 36467j108 18,392 476,848 SH   SOLE   476,348 500 0
GOLDMAN SACHS INC COM 38141g104 36,107 188,067 SH   SOLE   187,592 475 0
HOME BANCSHARES INC COM 436893200 34,903 1,986,513 SH   SOLE   1,981,263 5,250 0
HOME DEPOT INC COM 437076102 220 1,147 SH   SOLE   1,147 0 0
HOWARD HUGHES CORP COM 44267d107 897 8,154 SH   SOLE   8,154 0 0
HUMANA INC COM 444859102 606 2,280 SH   SOLE   2,280 0 0
ILLINOIS TOOL WORKS INC COM 452308109 233 1,626 SH   SOLE   1,626 0 0
INTUIT COM 461202103 517 1,979 SH   SOLE   1,979 0 0
JEFFERIES FINANCIAL GROUP INC COM 47233W109 9,584 510,073 SH   SOLE   508,573 1,500 0
JOHNSON AND JOHNSON COM 478160104 37,040 264,970 SH   SOLE   264,470 500 0
JPMORGAN CHASE & CO COM 46625h100 19,172 189,387 SH   SOLE   186,935 2,452 0
KOHLBERG KRAVIS ROBERTS & CO. COM 48251W104 778 33,100 SH   SOLE   33,100 0 0
LAS VEGAS SANDS CORP COM 517834107 1,478 24,242 SH   SOLE   24,242 0 0
LILLY ELI & CO COM 532457108 287 2,212 SH   SOLE   2,212 0 0
LIVE NATION ENTMT COM 538034109 6,427 101,153 SH   SOLE   101,153 0 0
MARKEL CORP COM COM 570535104 74,404 74,685 SH   SOLE   74,435 250 0
MASTERCARD INC. COM 57636q104 229 973 SH   SOLE   973 0 0
MC DONALDS CORP COM 580135101 1,393 7,333 SH   SOLE   7,333 0 0
MERCK & CO INC COM 58933y105 444 5,344 SH   SOLE   5,344 0 0
MGM MIRAGE COM 552953101 7,241 282,175 SH   SOLE   282,175 0 0
MICROSOFT CORP COM 594918104 1,180 10,008 SH   SOLE   10,008 0 0
MICROVISION INC WASH COM 594960304 12 12,000 SH   SOLE   12,000 0 0
MONDELEZ INTL CLASS A COM 609207105 336 6,740 SH   SOLE   6,740 0 0
MOODY'S CORP COM 615369105 33,041 182,455 SH   SOLE   181,880 575 0
NIKE INC CL B COM 654106103 21,772 258,539 SH   SOLE   258,539 0 0
O'REILLY AUTOMOTIVE INC COM 67103h107 5,509 14,188 SH   SOLE   14,188 0 0
PACWEST BANCORP COM 695263103 16,172 429,991 SH   SOLE   429,991 0 0
PEPSICO INC COM 713448108 23,136 188,790 SH   SOLE   188,390 400 0
PFIZER INCORPORATED COM 717081103 577 13,590 SH   SOLE   13,590 0 0
PHILIP MORRIS INTL INC COM 718172109 345 3,900 SH   SOLE   3,900 0 0
PNC FINANCIAL SRVCS COM 693475105 1,017 8,294 SH   SOLE   7,194 1,100 0
PROCTER & GAMBLE COM 742718109 3,203 30,785 SH   SOLE   30,785 0 0
SCHWAB CHARLES CORP COM 808513105 22,267 520,744 SH   SOLE   519,844 900 0
SEACOAST BK CORP FLA COM 811707801 1,150 43,650 SH   SOLE   43,650 0 0
SPDR S&P 500 ETF COM 78462f103 383 1,357 SH   SOLE   1,357 0 0
STARBUCKS CORP COM 855244109 218 2,927 SH   SOLE   2,927 0 0
T ROWE PRICE GROUP INC COM 74144t108 13,521 135,051 SH   SOLE   134,851 200 0
TIFFANY & CO NEW COM 886547108 21,041 199,346 SH   SOLE   198,946 400 0
TJX COS INC NEW COM 872540109 227 4,265 SH   SOLE   4,265 0 0
UNION PAC CORP COM 907818108 202 1,210 SH   SOLE   1,210 0 0
UNITED PARCEL SRVC CL B COM 911312106 906 8,105 SH   SOLE   8,105 0 0
UNITED TECHNOLOGIES COM 913017109 865 6,715 SH   SOLE   6,715 0 0
US BANCORP DEL COM 902973304 527 10,936 SH   SOLE   10,936 0 0
VISA INC COM CLASS A COM 92826C839 305 1,951 SH   SOLE   1,951 0 0
VORNADO REALTY TRUST COM 929042109 21,329 316,274 SH   SOLE   315,524 750 0
WAL-MART STORES INC COM 931142103 228 2,334 SH   SOLE   2,334 0 0
WALT DISNEY CO COM 254687106 3,893 35,061 SH   SOLE   35,061 0 0
WELLS FARGO & CO COM 949746101 24,560 508,268 SH   SOLE   505,518 2,750 0
WINTRUST FINANCIAL COM 97650w108 1,372 20,379 SH   SOLE   20,379 0 0
WYNN RESORTS LTD COM 983134107 27,961 234,336 SH   SOLE   233,611 725 0