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 4,297 30,000 SH   SOLE   30,000 0 0
3M Company COM 88579y101 24,924 174,000 SH   DFND 1 174,000 0 0
Aaron's Inc COM 002535300 4,455 125,000 SH   DFND 1 125,000 0 0
Accenture COM G1151C101 808 10,000 SH   SOLE   10,000 0 0
Accenture COM G1151C101 8,569 106,000 SH   DFND 1 106,000 0 0
Alleghany Corporation COM 017175100 1,896 4,328 SH   SOLE   4,328 0 0
American Express COM 025816109 949 10,000 SH   SOLE   10,000 0 0
American Express COM 025816109 32,161 339,000 SH   DFND 1 339,000 0 0
Anheuser Busch COM 035229103 1,149 10,000 SH   DFND 1 10,000 0 0
Anheuser-Busch Inbev ADR COM 03524A108 47,700 415,000 SH   DFND 1 415,000 0 0
Apollo Global Management - A COM 037612306 6,126 221,000 SH   DFND 1 221,000 0 0
Archer Daniels COM 039483102 60,695 1,376,000 SH   DFND 1 1,376,000 0 0
Automatic Data Processing COM 053015103 41,836 527,700 SH   DFND 1 527,700 0 0
Berkshire Hathaway Class B COM 084670702 61,394 485,100 SH   SOLE   485,100 0 0
Berkshire Hathaway Class B COM 084670702 129,915 1,026,507 SH   DFND 1 1,026,507 0 0
Berkshire Hathaway, Inc. COM 084670108 52,223 275 SH   SOLE   275 0 0
Berkshire Hathaway, Inc. COM 084670108 152,490 803 SH   DFND 1 803 0 0
Blackrock Inc COM 09247X101 28,444 89,000 SH   DFND 1 89,000 0 0
Blackstone Group COM 09253U108 11,804 353,000 SH   DFND 1 353,000 0 0
Brookfield Asset Management COM 112585104 18,929 430,000 SH   SOLE   430,000 0 0
Brookfield Asset Management COM 112585104 124,777 2,834,548 SH   DFND 1 2,834,548 0 0
Brown & Brown COM 115236101 11,228 365,628 SH   DFND 1 365,628 0 0
Brown Forman Class A COM 115637100 38,921 421,500 SH   DFND 1 421,500 0 0
Brown-Forman Class B COM 115637209 9,923 105,375 SH   DFND 1 105,375 0 0
CME Group Inc COM 12572q105 1,703 24,000 SH   DFND 1 24,000 0 0
CVS Corporation COM 126650100 14,848 197,000 SH   DFND 1 197,000 0 0
Carlyle Group COM 14309L102 8,728 257,000 SH   DFND 1 257,000 0 0
Carmax COM 143130102 12,222 235,000 SH   SOLE   235,000 0 0
Carmax COM 143130102 245,907 4,728,070 SH   DFND 1 4,728,070 0 0
Caterpillar Inc COM 149123101 26,189 241,000 SH   DFND 1 241,000 0 0
Charles Schwab COM 808513105 28,465 1,057,000 SH   DFND 1 1,057,000 0 0
Chubb Corp COM 171232101 15,853 172,000 SH   DFND 1 172,000 0 0
Cisco COM 17275R102 572 23,000 SH   DFND 1 23,000 0 0
Coca Cola Co COM 191216100 5,507 130,000 SH   DFND 1 130,000 0 0
Colfax Corporation COM 194014106 80,881 1,085,070 SH   SOLE   1,085,070 0 0
Copart Inc COM 217204106 22,655 630,000 SH   DFND 1 630,000 0 0
Core Labs NV COM N22717107 1,671 10,000 SH   DFND 1 10,000 0 0
Costco COM 22160K105 576 5,000 SH   SOLE   5,000 0 0
Costco COM 22160K105 3,915 34,000 SH   DFND 1 34,000 0 0
Culp Inc COM 230215105 526 30,227 SH   DFND 1 30,227 0 0
Deere & Co COM 214199105 17,204 190,000 SH   DFND 1 190,000 0 0
Diageo PLC COM 25243Q205 41,808 328,500 SH   SOLE   328,500 0 0
Diageo PLC COM 25243Q205 112,952 887,500 SH   DFND 1 887,500 0 0
Disney COM 254687106 128,567 1,499,500 SH   DFND 1 1,499,500 0 0
Ecolab COM 278865100 9,798 88,000 SH   DFND 1 88,000 0 0
Emerson Electric COM 291011104 10,485 158,000 SH   DFND 1 158,000 0 0
Expeditors Int'l Wash Inc COM 302130109 6,050 137,000 SH   DFND 1 137,000 0 0
Exxon Corporation COM 30231G102 20,116 199,800 SH   SOLE   199,800 0 0
Exxon Corporation COM 30231G102 67,355 669,000 SH   DFND 1 669,000 0 0
Factset Research COM 303075105 12,389 103,000 SH   DFND 1 103,000 0 0
Fairfax Financial Holdings Ltd COM 303901102 93,132 197,104 SH   SOLE   197,104 0 0
Fairfax Financial Holdings Ltd COM 303901102 38,913 82,355 SH   DFND 1 82,355 0 0
Federated Investors COM 314211103 309 10,000 SH   SOLE   10,000 0 0
Federated Investors COM 314211103 65,674 2,124,000 SH   DFND 1 2,124,000 0 0
General Dynamics COM 369550108 45,105 387,000 SH   DFND 1 387,000 0 0
General Electric COM 369604103 74,004 2,816,000 SH   DFND 1 2,816,000 0 0
Google Class A COM 38259P508 7,308 12,500 SH   DFND 1 12,500 0 0
Google Class C COM 38259P706 7,191 12,500 SH   DFND 1 12,500 0 0
Graham Holdings Co COM 384637104 3,734 5,200 SH   DFND 1 5,200 0 0
Hasbro, Inc COM 418056107 12,944 244,000 SH   DFND 1 244,000 0 0
Heritage Crystal Clean Inc COM 42726M106 903 46,003 SH   DFND 1 46,003 0 0
Home Depot COM 437076102 1,619 20,000 SH   SOLE   20,000 0 0
Home Depot COM 437076102 72,864 900,000 SH   DFND 1 900,000 0 0
Illinois Tool Works COM 452308109 20,139 230,000 SH   DFND 1 230,000 0 0
Intel COM 458140100 1,854 60,000 SH   SOLE   60,000 0 0
Intel COM 458140100 28,768 931,000 SH   DFND 1 931,000 0 0
International Game Technology COM 459902102 3,977 250,000 SH   SOLE   250,000 0 0
International Game Technology COM 459902102 10,580 665,000 SH   DFND 1 665,000 0 0
Investors Title Company COM 461804106 14,372 213,300 SH   DFND 1 213,300 0 0
Johnson and Johnson COM 478160104 5,754 55,000 SH   SOLE   55,000 0 0
Johnson and Johnson COM 478160104 54,319 519,200 SH   DFND 1 519,200 0 0
KKR & Co LLC COM 48248M102 8,710 358,000 SH   DFND 1 358,000 0 0
Laboratory Corp of America COM 50540R409 1,536 15,000 SH   DFND 1 15,000 0 0
Liberty Media COM 531229102 33,623 246,000 SH   DFND 1 246,000 0 0
Lowes COM 548661107 4,559 95,000 SH   SOLE   95,000 0 0
Lowes COM 548661107 21,356 445,000 SH   DFND 1 445,000 0 0
MSCI COM 55354g100 2,659 58,000 SH   DFND 1 58,000 0 0
Marriott International COM 571903202 83,706 1,305,869 SH   DFND 1 1,305,869 0 0
Marsh & McLennan COM 571748102 7,307 141,000 SH   DFND 1 141,000 0 0
Mastercard, Inc COM 57636Q104 5,878 80,000 SH   DFND 1 80,000 0 0
Mattel COM 577081102 9,781 251,000 SH   DFND 1 251,000 0 0
McDonalds COM 580135101 18,234 181,000 SH   DFND 1 181,000 0 0
McGraw Hill Financial COM 580645109 6,642 80,000 SH   DFND 1 80,000 0 0
Microsoft Corp COM 594918104 34,111 818,000 SH   DFND 1 818,000 0 0
Monsanto Co COM 61166W101 4,116 33,000 SH   DFND 1 33,000 0 0
Moody's Corp COM 615369105 19,899 227,000 SH   DFND 1 227,000 0 0
National Oilwell COM 637071101 32,364 393,000 SH   DFND 1 393,000 0 0
Nike COM 654106103 10,159 131,000 SH   DFND 1 131,000 0 0
Norfolk Southern COM 655844108 9,479 92,000 SH   DFND 1 92,000 0 0
Northern Trust Corp COM 665859104 8,989 140,000 SH   DFND 1 140,000 0 0
Novo-Nordisk A/S COM 670100205 49,654 1,075,000 SH   DFND 1 1,075,000 0 0
Now Inc COM 67011P100 3,386 93,500 SH   DFND 1 93,500 0 0
Oracle Corp COM 68389x105 25,858 638,000 SH   DFND 1 638,000 0 0
Patterson Companies Inc. COM 703395103 6,124 155,000 SH   DFND 1 155,000 0 0
Paychex COM 704326107 6,234 150,000 SH   DFND 1 150,000 0 0
Pepsico COM 713448108 11,998 134,300 SH   DFND 1 134,300 0 0
Philip Morris International COM 718172109 9,653 114,500 SH   DFND 1 114,500 0 0
Procter & Gamble COM 742718109 9,981 127,000 SH   DFND 1 127,000 0 0
RLI Corporation COM 749607107 54,811 1,197,272 SH   DFND 1 1,197,272 0 0
Rent-A-Center COM 76009N100 3,155 110,000 SH   DFND 1 110,000 0 0
Ritchie Bros COM 767744105 246 10,000 SH   DFND 1 10,000 0 0
Rollins, Inc. COM 775711104 2,610 87,000 SH   DFND 1 87,000 0 0
Ross Stores, Inc COM 778296103 1,521 23,000 SH   DFND 1 23,000 0 0
SEI Investments Co COM 784117103 7,766 237,000 SH   DFND 1 237,000 0 0
Schlumberger COM 806857108 36,564 310,000 SH   DFND 1 310,000 0 0
Sigma Aldrich COM 826552101 609 6,000 SH   DFND 1 6,000 0 0
Starz Liberty Capital COM 85571Q102 357 12,000 SH   DFND 1 12,000 0 0
Synalloy Corporation COM 871565107 7,969 485,343 SH   SOLE   485,343 0 0
Synalloy Corporation COM 871565107 4,926 300,000 SH   DFND 1 300,000 0 0
T.Rowe Price COM 74144T108 929 11,000 SH   SOLE   11,000 0 0
T.Rowe Price COM 74144T108 20,174 239,000 SH   DFND 1 239,000 0 0
Target COM 87612E106 1,912 33,000 SH   DFND 1 33,000 0 0
Teva Pharmaceuticals COM 881624209 36,379 694,000 SH   DFND 1 694,000 0 0
The Travelers Companies Inc COM 89417e109 15,992 170,000 SH   DFND 1 170,000 0 0
Unilever PLC ADR COM 904767704 41,323 912,000 SH   DFND 1 912,000 0 0
United Health Group Inc COM 91324P102 51,257 627,000 SH   DFND 1 627,000 0 0
United Parcel Service COM 911312106 73,453 715,500 SH   DFND 1 715,500 0 0
United Technologies COM 913017109 6,119 53,000 SH   DFND 1 53,000 0 0
Universal Technical Institute COM 913915104 410 33,800 SH   DFND 1 33,800 0 0
Visa COM 92826C839 34,662 164,500 SH   DFND 1 164,500 0 0
W.P. Carey COM 92936U109 2,898 45,000 SH   SOLE   45,000 0 0
W.P. Carey COM 92936U109 58,295 905,200 SH   DFND 1 905,200 0 0
Wal-Mart Stores COM 931142103 82,427 1,098,000 SH   DFND 1 1,098,000 0 0
Walgreen COM 931422109 158,268 2,135,000 SH   DFND 1 2,135,000 0 0
Wellpoint Inc COM 94973V107 20,231 188,000 SH   DFND 1 188,000 0 0