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
ALARM COM HLDGS INC COM 011642105 63,796 1,367,840 SH   SOLE   1,367,840 0 0
AMERICAN TOWER CORP NEW COM 03027X100 1,589,149 7,186,492 SH   SOLE   7,191,492 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 59,578 286,407 SH   SOLE   286,857 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 13,097 42 SH   SOLE   45 0 0
BOSTON OMAHA CORP COM 101044105 426 21,483 SH   SOLE   21,483 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 282,663 5,324,225 SH   SOLE   5,324,225 0 0
CARMAX INC COM 143130102 553,111 6,285,351 SH   SOLE   6,285,351 0 0
COLONY CAP INC NEW CL A COM 19626G108 60 10,000 SH   SOLE   10,000 0 0
DANAHER CORP DEL COM 235851102 239,075 1,655,300 SH   SOLE   1,655,300 0 0
DESCARTES SYS GROUP INC COM 249906108 2,015 50,000 SH   SOLE   50,000 0 0
DOLLAR TREE INC COM 256746108 580,608 5,085,911 SH   SOLE   5,085,911 0 0
ENSTAR GROUP LIMITED SHS G3075P101 549 2,890 SH   SOLE   5,780 0 0
GOOSEHEAD INS INC COM CL A 38267D109 5,009 101,490 SH   SOLE   101,490 0 0
KKR & CO L P DEL COM UNITS 48251W104 342,467 12,754,820 SH   SOLE   12,754,820 0 0
LAMAR ADVERTISING CO CL A 512816109 3,976 48,530 SH   SOLE   97,060 0 0
MARKEL CORP COM 570535104 606,273 512,965 SH   SOLE   513,080 0 0
MASTERCARD INC CL A 57636Q104 1,446,692 5,327,144 SH   SOLE   5,327,144 0 0
MOODYS CORP COM 615369105 1,163,804 5,681,803 SH   SOLE   5,681,803 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 752,018 1,887,074 SH   SOLE   1,887,074 0 0
OLLIES BARGAIN OUTLT HLDGS I COM 681116109 5,864 100,000 SH   SOLE   100,000 0 0
PRIMO WTR CORP COM 74165N105 37,541 3,057,100 SH   SOLE   3,057,100 0 0
ROPER INDS INC NEW COM 776696106 558,864 1,567,202 SH   SOLE   1,567,202 0 0
SBA COMMUNICATIONS CORP COM 78410G104 594,435 2,465,000 SH   SOLE   2,465,000 0 0
VERISK ANALYTICS INC CL A 92345Y106 402,340 2,544,202 SH   SOLE   2,544,202 0 0
VISA INC COM CL A 92826C839 840,659 4,887,270 SH   SOLE   4,887,270 0 0