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
ABBOTT LABORATORIES COM 002824100 454 5,399 SH   SOLE   5,399 0 0
ABBVIE INC COM 00287y109 448 6,167 SH   SOLE   6,167 0 0
AFFILIATED MANAGERS GRP COM 008252108 16,328 177,206 SH   SOLE   176,656 550 0
ALPHABET INC SHS CL A COM 02079k305 17,084 15,778 SH   SOLE   15,778 0 0
ALPHABET INC SHS CL C COM 02079k107 33,877 31,341 SH   SOLE   31,271 70 0
AMAZON.COM INC COM 023135106 27,153 14,339 SH   SOLE   14,299 40 0
AMERICAN EXPRESS CO COM 025816109 25,761 208,692 SH   SOLE   207,717 975 0
AMERICAN TOWER CORP COM 03027x100 4,670 22,843 SH   SOLE   22,843 0 0
ANNALY CAP MGMT INC COM 035710409 228 25,000 SH   SOLE   25,000 0 0
APPLE INC COM 037833100 12,125 61,263 SH   SOLE   61,263 0 0
AUTOMATIC DATA PROCESS COM 053015103 260 1,575 SH   SOLE   1,575 0 0
BAXTER INTL COM 071813109 217 2,648 SH   SOLE   2,648 0 0
BECTON DICKINSON & CO COM 075887109 236 938 SH   SOLE   938 0 0
BERKSHIRE HATHAWAY A COM 084670108 11,779 37 SH   SOLE   37 0 0
BERKSHIRE HATHAWAY B COM 084670702 146,726 688,307 SH   SOLE   685,307 3,000 0
BLACKSTONE GROUP INC COM 09260d107 37,527 844,831 SH   SOLE   842,931 1,900 0
BOEING CO COM 097023105 563 1,547 SH   SOLE   1,547 0 0
BOOKING HOLDING INC COM 09857L108 23,818 12,705 SH   SOLE   12,670 35 0
BROOKFIELD ASSET MGMT COM 112585104 27,195 569,176 SH   SOLE   567,776 1,400 0
CARMAX INC COM 143130102 27,956 321,959 SH   SOLE   321,609 350 0
CHEVRON CORPORATION COM 166764100 1,351 10,859 SH   SOLE   10,859 0 0
CHURCHILL DOWNS COM 171484108 1,671 14,525 SH   SOLE   14,525 0 0
CINTAS CORP COM 172908105 237 1,000 SH   SOLE   1,000 0 0
COCA COLA COM COM 191216100 1,951 38,319 SH   SOLE   38,319 0 0
COSTCO WHOLESALE CO COM 22160k105 836 3,164 SH   SOLE   3,164 0 0
DIAMOND HILL INVT CL A COM 25264r207 12,654 89,286 SH   SOLE   89,111 175 0
DOUGLAS EMMETT INC COM 25960p109 17,493 439,084 SH   SOLE   437,334 1,750 0
ENSTAR GROUP LTD COM g3075p101 16,291 93,478 SH   SOLE   93,128 350 0
ESTEE LAUDER INC COM 518439104 22,148 120,953 SH   SOLE   120,453 500 0
EXXON MOBIL CORP COM 30231g102 3,795 49,520 SH   SOLE   48,220 1,300 0
FACEBOOK INC CL A COM 30303m102 289 1,500 SH   SOLE   1,500 0 0
GAMCO INVS INC COM 361438104 3,506 182,905 SH   SOLE   181,905 1,000 0
GAMING & LEISURE INC COM 36467j108 11,246 288,514 SH   SOLE   288,014 500 0
GOLDMAN SACHS INC COM 38141g104 38,180 186,607 SH   SOLE   186,132 475 0
HOME BANCSHARES INC COM 436893200 46,732 2,426,357 SH   SOLE   2,421,107 5,250 0
HOME DEPOT INC COM 437076102 239 1,147 SH   SOLE   1,147 0 0
HOWARD HUGHES CORP COM 44267d107 522 4,214 SH   SOLE   4,214 0 0
HUMANA INC COM 444859102 605 2,280 SH   SOLE   2,280 0 0
ILLINOIS TOOL WORKS INC COM 452308109 208 1,376 SH   SOLE   1,376 0 0
INTUIT COM 461202103 517 1,979 SH   SOLE   1,979 0 0
JEFFERIES FINANCIAL GROUP INC COM 47233W109 6,649 345,746 SH   SOLE   344,246 1,500 0
JOHNSON AND JOHNSON COM 478160104 36,017 258,595 SH   SOLE   258,095 500 0
JPMORGAN CHASE & CO COM 46625h100 21,056 188,337 SH   SOLE   185,885 2,452 0
KOHLBERG KRAVIS ROBERTS & CO. COM 48251W104 941 37,225 SH   SOLE   37,225 0 0
LAS VEGAS SANDS CORP COM 517834107 1,382 23,392 SH   SOLE   23,392 0 0
LIBERTY MEDIA CORP SERIES C LI COM 531229607 9,171 241,461 SH   SOLE   241,461 0 0
LILLY ELI & CO COM 532457108 245 2,212 SH   SOLE   2,212 0 0
LIVE NATION ENTMT COM 538034109 6,563 99,058 SH   SOLE   99,058 0 0
MARKEL CORP COM COM 570535104 80,734 74,095 SH   SOLE   73,845 250 0
MASTERCARD INC. COM 57636q104 257 973 SH   SOLE   973 0 0
MC DONALDS CORP COM 580135101 1,523 7,333 SH   SOLE   7,333 0 0
MERCK & CO INC COM 58933y105 436 5,194 SH   SOLE   5,194 0 0
MGM MIRAGE COM 552953101 8,685 303,985 SH   SOLE   303,985 0 0
MICROSOFT CORP COM 594918104 1,337 9,978 SH   SOLE   9,978 0 0
MICROVISION INC WASH COM 594960304 10 12,000 SH   SOLE   12,000 0 0
MONDELEZ INTL CLASS A COM 609207105 363 6,740 SH   SOLE   6,740 0 0
MOODY'S CORP COM 615369105 35,214 180,300 SH   SOLE   179,725 575 0
NIKE INC CL B COM 654106103 21,551 256,709 SH   SOLE   256,709 0 0
O'REILLY AUTOMOTIVE INC COM 67103h107 4,920 13,323 SH   SOLE   13,323 0 0
PACWEST BANCORP COM 695263103 16,462 423,956 SH   SOLE   423,956 0 0
PEPSICO INC COM 713448108 23,528 179,427 SH   SOLE   179,027 400 0
PFIZER INCORPORATED COM 717081103 573 13,232 SH   SOLE   13,232 0 0
PHILIP MORRIS INTL INC COM 718172109 306 3,900 SH   SOLE   3,900 0 0
PNC FINANCIAL SRVCS COM 693475105 1,136 8,272 SH   SOLE   7,172 1,100 0
PROCTER & GAMBLE COM 742718109 3,322 30,299 SH   SOLE   30,299 0 0
SCHWAB CHARLES CORP COM 808513105 25,402 632,035 SH   SOLE   631,135 900 0
SEACOAST BK CORP FLA COM 811707801 1,136 44,650 SH   SOLE   44,650 0 0
SPDR S&P 500 ETF COM 78462f103 347 1,184 SH   SOLE   1,184 0 0
STARBUCKS CORP COM 855244109 237 2,827 SH   SOLE   2,827 0 0
T ROWE PRICE GROUP INC COM 74144t108 14,878 135,611 SH   SOLE   135,411 200 0
TIFFANY & CO NEW COM 886547108 18,384 196,331 SH   SOLE   195,931 400 0
UNION PAC CORP COM 907818108 205 1,210 SH   SOLE   1,210 0 0
UNITED PARCEL SRVC CL B COM 911312106 774 7,492 SH   SOLE   7,492 0 0
UNITED TECHNOLOGIES COM 913017109 757 5,813 SH   SOLE   5,813 0 0
US BANCORP DEL COM 902973304 547 10,436 SH   SOLE   10,436 0 0
VISA INC COM CLASS A COM 92826C839 339 1,951 SH   SOLE   1,951 0 0
VORNADO REALTY TRUST COM 929042109 20,315 316,934 SH   SOLE   316,184 750 0
WAL-MART STORES INC COM 931142103 258 2,334 SH   SOLE   2,334 0 0
WALT DISNEY CO COM 254687106 4,700 33,661 SH   SOLE   33,661 0 0
WELLS FARGO & CO COM 949746101 21,465 453,616 SH   SOLE   451,616 2,000 0
WINTRUST FINANCIAL COM 97650w108 1,491 20,379 SH   SOLE   20,379 0 0
WYNN RESORTS LTD COM 983134107 28,355 228,691 SH   SOLE   227,966 725 0