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

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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
ALARM COM HLDGS INC COM 011642105 32,141 600,770 SH   SOLE   600,770 0 0
AMERICAN TOWER CORP NEW COM 03027X100 1,469,286 7,186,528 SH   SOLE   7,186,528 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 60,994 286,129 SH   SOLE   286,129 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 13,371 42 SH   SOLE   42 0 0
BOSTON OMAHA CORP COM 101044105 5,611 242,396 SH   SOLE   242,396 0 0
CARMAX INC COM 143130102 527,751 6,077,981 SH   SOLE   6,077,981 0 0
DANAHER CORP DEL COM 235851102 236,575 1,655,300 SH   SOLE   1,655,300 0 0
DIAMOND HILL INVESTMENT GROU COM NEW 25264R207 8,035 56,694 SH   SOLE   56,694 0 0
DOLLAR TREE INC COM 256746108 546,228 5,086,395 SH   SOLE   5,086,395 0 0
ENSTAR GROUP LIMITED SHS G3075P101 23,772 136,400 SH   SOLE   136,400 0 0
GOOSEHEAD INS INC COM CL A 38267D109 4,851 101,490 SH   SOLE   101,490 0 0
KKR & CO L P DEL COM UNITS 48251W104 322,283 12,753,600 SH   SOLE   12,753,600 0 0
LAMAR ADVERTISING CO CL A 512816109 3,917 48,530 SH   SOLE   48,530 0 0
MARKEL CORP COM 570535104 559,032 513,062 SH   SOLE   513,062 0 0
MASTERCARD INC CL A 57636Q104 1,409,310 5,327,599 SH   SOLE   5,327,599 0 0
MOODYS CORP COM 615369105 1,109,782 5,682,156 SH   SOLE   5,682,156 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 696,995 1,887,238 SH   SOLE   1,887,238 0 0
PRIMO WTR CORP COM 74165N105 37,504 3,049,100 SH   SOLE   3,049,100 0 0
ROPER INDS INC NEW COM 776696106 574,044 1,567,314 SH   SOLE   1,567,314 0 0
SBA COMMUNICATIONS CORP COM 78388J106 554,231 2,465,000 SH   SOLE   2,465,000 0 0
TD AMERITRADE HLDG CORP COM 87236Y108 167,232 3,350,000 SH   SOLE   3,350,000 0 0
UBIQUITI NETWORKS INC COM 90347A100 277,646 2,111,375 SH   SOLE   2,111,375 0 0
VERISK ANALYTICS INC CL A 92345Y106 372,545 2,543,662 SH   SOLE   2,543,662 0 0
VISA INC COM CL A 92826C839 848,186 4,887,270 SH   SOLE   4,887,270 0 0