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
ADOBE INC COM 00724F101 727,254 1,529,870 SH   SOLE   1,529,870 0 0
ALARM COM HLDGS INC COM 011642105 171,193 1,981,858 SH   SOLE   1,981,858 0 0
ALPHABET INC CAP STK CL C 02079K107 83 40 SH   SOLE   40 0 0
AMERICAN TOWER CORP NEW COM 03027X100 1,703,084 7,124,087 SH   SOLE   7,124,087 0 0
ANSYS INC COM 03662Q105 207,051 609,764 SH   SOLE   609,764 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 4,700 18,399 SH   SOLE   18,399 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 1,157 3 SH   SOLE   3 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 580,284 13,040,095 SH   SOLE   13,040,095 0 0
CARMAX INC COM 143130102 943,684 7,113,557 SH   SOLE   7,113,557 0 0
COLONY CAP INC NEW CL A COM 19626G108 69,432 10,714,800 SH   SOLE   10,714,800 0 0
COSTAR GROUP INC COM 22160N109 803,024 977,045 SH   SOLE   977,045 0 0
DANAHER CORP DEL COM 235851102 372,575 1,655,300 SH   SOLE   1,655,300 0 0
DOLLAR TREE INC COM 256746108 410,964 3,590,456 SH   SOLE   3,590,456 0 0
GOOSEHEAD INS INC COM CL A 38267D109 26,084 243,366 SH   SOLE   243,366 0 0
KKR & CO L P DEL COM UNITS 48251W104 719,747 14,733,824 SH   SOLE   14,733,824 0 0
LAMAR ADVERTISING CO CL A 512816109 4,558 48,530 SH   SOLE   48,530 0 0
LIVE NATION ENTERTAINMENT IN COM 538034109 462,985 5,469,400 SH   SOLE   5,469,400 0 0
MARKEL CORP COM 570535104 15,878 13,933 SH   SOLE   13,933 0 0
MASTERCARD INC CL A 57636Q104 2,090,779 5,872,150 SH   SOLE   5,872,150 0 0
MOODYS CORP COM 615369105 1,680,355 5,627,255 SH   SOLE   5,627,255 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 802,956 1,582,959 SH   SOLE   1,582,959 0 0
OLLIES BARGAIN OUTLT HLDGS I COM 681116109 43,500 500,000 SH   SOLE   500,000 0 0
PAYPAL HLDGS INC COM 70450Y103 1,214 5,000 SH   SOLE   5,000 0 0
ROPER INDS INC NEW COM 776696106 700,377 1,736,443 SH   SOLE   1,736,443 0 0
SBA COMMUNICATIONS CORP COM 78410G104 634,237 2,285,126 SH   SOLE   2,285,126 0 0
THE TRADE DESK INC COM CL A 88339J105 290 445 SH   SOLE   445 0 0
THREDUP INC CL A 88556E102 4,666 200,000 SH   SOLE   200,000 0 0
VERISK ANALYTICS INC CL A 92345Y106 432,604 2,448,376 SH   SOLE   2,448,376 0 0
VISA INC COM CL A 92826C839 1,112,586 5,254,738 SH   SOLE   5,254,738 0 0