The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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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 |
| 3M Company | COM | 88579y101 | 4,250 | 30,000 | SH | SOLE | 30,000 | 0 | 0 | ||
| 3M Company | COM | 88579y101 | 24,652 | 174,000 | SH | DFND | 1 | 174,000 | 0 | 0 | |
| Aaron's Inc | COM | 002535300 | 4,961 | 204,000 | SH | DFND | 1 | 204,000 | 0 | 0 | |
| Accenture | COM | G1151C101 | 813 | 10,000 | SH | SOLE | 10,000 | 0 | 0 | ||
| Accenture | COM | G1151C101 | 9,596 | 118,000 | SH | DFND | 1 | 118,000 | 0 | 0 | |
| Alleghany Corporation | COM | 017175100 | 1,810 | 4,328 | SH | SOLE | 4,328 | 0 | 0 | ||
| American Express | COM | 025816109 | 875 | 10,000 | SH | SOLE | 10,000 | 0 | 0 | ||
| American Express | COM | 025816109 | 29,676 | 339,000 | SH | DFND | 1 | 339,000 | 0 | 0 | |
| Anheuser-Busch Inbev ADR | COM | 03524A108 | 47,111 | 425,000 | SH | DFND | 1 | 425,000 | 0 | 0 | |
| Apollo Global Management - A | COM | 037612306 | 6,556 | 275,000 | SH | DFND | 1 | 275,000 | 0 | 0 | |
| Archer Daniels | COM | 039483102 | 70,314 | 1,376,000 | SH | DFND | 1 | 1,376,000 | 0 | 0 | |
| Automatic Data Processing | COM | 053015103 | 44,091 | 530,700 | SH | DFND | 1 | 530,700 | 0 | 0 | |
| Berkshire Hathaway Class B | COM | 084670702 | 67,012 | 485,100 | SH | SOLE | 485,100 | 0 | 0 | ||
| Berkshire Hathaway Class B | COM | 084670702 | 141,802 | 1,026,507 | SH | DFND | 1 | 1,026,507 | 0 | 0 | |
| Berkshire Hathaway, Inc. | COM | 084670108 | 56,897 | 275 | SH | SOLE | 275 | 0 | 0 | ||
| Berkshire Hathaway, Inc. | COM | 084670108 | 166,141 | 803 | SH | DFND | 1 | 803 | 0 | 0 | |
| Blackrock Inc | COM | 09247X101 | 33,817 | 103,000 | SH | DFND | 1 | 103,000 | 0 | 0 | |
| Blackstone Group | COM | 09253U108 | 12,151 | 386,000 | SH | DFND | 1 | 386,000 | 0 | 0 | |
| Brookfield Asset Management | COM | 112585104 | 19,333 | 430,000 | SH | SOLE | 430,000 | 0 | 0 | ||
| Brookfield Asset Management | COM | 112585104 | 128,430 | 2,856,548 | SH | DFND | 1 | 2,856,548 | 0 | 0 | |
| Brown & Brown | COM | 115236101 | 11,755 | 365,628 | SH | DFND | 1 | 365,628 | 0 | 0 | |
| Brown Forman Class A | COM | 115637100 | 37,594 | 421,500 | SH | DFND | 1 | 421,500 | 0 | 0 | |
| Brown-Forman Class B | COM | 115637209 | 9,507 | 105,375 | SH | DFND | 1 | 105,375 | 0 | 0 | |
| CME Group Inc | COM | 12572q105 | 3,598 | 45,000 | SH | DFND | 1 | 45,000 | 0 | 0 | |
| CVS Corporation | COM | 126650100 | 17,351 | 218,000 | SH | DFND | 1 | 218,000 | 0 | 0 | |
| Carlyle Group | COM | 14309L102 | 8,833 | 290,000 | SH | DFND | 1 | 290,000 | 0 | 0 | |
| Carmax | COM | 143130102 | 10,916 | 235,000 | SH | SOLE | 235,000 | 0 | 0 | ||
| Carmax | COM | 143130102 | 219,619 | 4,728,070 | SH | DFND | 1 | 4,728,070 | 0 | 0 | |
| Caterpillar Inc | COM | 149123101 | 23,866 | 241,000 | SH | DFND | 1 | 241,000 | 0 | 0 | |
| Charles Schwab | COM | 808513105 | 31,065 | 1,057,000 | SH | DFND | 1 | 1,057,000 | 0 | 0 | |
| Chubb Corp | COM | 171232101 | 20,402 | 224,000 | SH | DFND | 1 | 224,000 | 0 | 0 | |
| Cisco | COM | 17275R102 | 579 | 23,000 | SH | DFND | 1 | 23,000 | 0 | 0 | |
| Coca Cola Co | COM | 191216100 | 5,546 | 130,000 | SH | DFND | 1 | 130,000 | 0 | 0 | |
| Colfax Corporation | COM | 194014106 | 61,816 | 1,085,070 | SH | SOLE | 1,085,070 | 0 | 0 | ||
| Copart Inc | COM | 217204106 | 22,328 | 713,000 | SH | DFND | 1 | 713,000 | 0 | 0 | |
| Core Labs NV | COM | N22717107 | 1,463 | 10,000 | SH | DFND | 1 | 10,000 | 0 | 0 | |
| Costco | COM | 22160K105 | 627 | 5,000 | SH | SOLE | 5,000 | 0 | 0 | ||
| Costco | COM | 22160K105 | 4,261 | 34,000 | SH | DFND | 1 | 34,000 | 0 | 0 | |
| Culp Inc | COM | 230215105 | 549 | 30,227 | SH | DFND | 1 | 30,227 | 0 | 0 | |
| Diageo PLC | COM | 25243Q205 | 37,909 | 328,500 | SH | SOLE | 328,500 | 0 | 0 | ||
| Diageo PLC | COM | 25243Q205 | 104,033 | 901,500 | SH | DFND | 1 | 901,500 | 0 | 0 | |
| Disney | COM | 254687106 | 134,836 | 1,514,500 | SH | DFND | 1 | 1,514,500 | 0 | 0 | |
| Ecolab | COM | 278865100 | 11,598 | 101,000 | SH | DFND | 1 | 101,000 | 0 | 0 | |
| Emerson Electric | COM | 291011104 | 9,888 | 158,000 | SH | DFND | 1 | 158,000 | 0 | 0 | |
| Expeditors Int'l Wash Inc | COM | 302130109 | 5,559 | 137,000 | SH | DFND | 1 | 137,000 | 0 | 0 | |
| Exxon Corporation | COM | 30231G102 | 18,791 | 199,800 | SH | SOLE | 199,800 | 0 | 0 | ||
| Exxon Corporation | COM | 30231G102 | 62,919 | 669,000 | SH | DFND | 1 | 669,000 | 0 | 0 | |
| Factset Research | COM | 303075105 | 14,097 | 116,000 | SH | DFND | 1 | 116,000 | 0 | 0 | |
| Fairfax Financial Holdings Ltd | COM | 303901102 | 87,950 | 197,104 | SH | SOLE | 197,104 | 0 | 0 | ||
| Fairfax Financial Holdings Ltd | COM | 303901102 | 36,748 | 82,355 | SH | DFND | 1 | 82,355 | 0 | 0 | |
| Federated Investors | COM | 314211103 | 294 | 10,000 | SH | SOLE | 10,000 | 0 | 0 | ||
| Federated Investors | COM | 314211103 | 62,361 | 2,124,000 | SH | DFND | 1 | 2,124,000 | 0 | 0 | |
| General Dynamics | COM | 369550108 | 49,184 | 387,000 | SH | DFND | 1 | 387,000 | 0 | 0 | |
| General Electric | COM | 369604103 | 73,632 | 2,874,000 | SH | DFND | 1 | 2,874,000 | 0 | 0 | |
| Google Class A | COM | 38259P508 | 7,355 | 12,500 | SH | DFND | 1 | 12,500 | 0 | 0 | |
| Google Class C | COM | 38259P706 | 7,217 | 12,500 | SH | DFND | 1 | 12,500 | 0 | 0 | |
| Graham Holdings Co | COM | 384637104 | 3,638 | 5,200 | SH | DFND | 1 | 5,200 | 0 | 0 | |
| Hasbro, Inc | COM | 418056107 | 15,454 | 281,000 | SH | DFND | 1 | 281,000 | 0 | 0 | |
| Home Depot | COM | 437076102 | 1,835 | 20,000 | SH | SOLE | 20,000 | 0 | 0 | ||
| Home Depot | COM | 437076102 | 82,566 | 900,000 | SH | DFND | 1 | 900,000 | 0 | 0 | |
| Illinois Tool Works | COM | 452308109 | 19,417 | 230,000 | SH | DFND | 1 | 230,000 | 0 | 0 | |
| Intel | COM | 458140100 | 2,089 | 60,000 | SH | SOLE | 60,000 | 0 | 0 | ||
| Intel | COM | 458140100 | 32,417 | 931,000 | SH | DFND | 1 | 931,000 | 0 | 0 | |
| International Game Technology | COM | 459902102 | 3,627 | 215,000 | SH | DFND | 1 | 215,000 | 0 | 0 | |
| Investors Title Company | COM | 461804106 | 15,614 | 213,300 | SH | DFND | 1 | 213,300 | 0 | 0 | |
| John Deere | COM | 244199105 | 44,275 | 540,000 | SH | DFND | 1 | 540,000 | 0 | 0 | |
| Johnson and Johnson | COM | 478160104 | 5,862 | 55,000 | SH | SOLE | 55,000 | 0 | 0 | ||
| Johnson and Johnson | COM | 478160104 | 55,342 | 519,200 | SH | DFND | 1 | 519,200 | 0 | 0 | |
| KKR & Co LLC | COM | 48248M102 | 8,898 | 399,000 | SH | DFND | 1 | 399,000 | 0 | 0 | |
| Laboratory Corp of America | COM | 50540R409 | 1,526 | 15,000 | SH | DFND | 1 | 15,000 | 0 | 0 | |
| Liberty Media | COM | 531229102 | 13,824 | 293,000 | SH | DFND | 1 | 293,000 | 0 | 0 | |
| Liberty Media Corp Class C | COM | 531229300 | 24,247 | 516,000 | SH | DFND | 1 | 516,000 | 0 | 0 | |
| Lowes | COM | 548661107 | 5,027 | 95,000 | SH | SOLE | 95,000 | 0 | 0 | ||
| Lowes | COM | 548661107 | 23,549 | 445,000 | SH | DFND | 1 | 445,000 | 0 | 0 | |
| MSCI | COM | 55354g100 | 4,044 | 86,000 | SH | DFND | 1 | 86,000 | 0 | 0 | |
| Marriott International | COM | 571903202 | 93,028 | 1,330,869 | SH | DFND | 1 | 1,330,869 | 0 | 0 | |
| Marsh & McLennan | COM | 571748102 | 12,091 | 231,000 | SH | DFND | 1 | 231,000 | 0 | 0 | |
| Mastercard, Inc | COM | 57636Q104 | 5,914 | 80,000 | SH | DFND | 1 | 80,000 | 0 | 0 | |
| Mattel | COM | 577081102 | 8,766 | 286,000 | SH | DFND | 1 | 286,000 | 0 | 0 | |
| McDonalds | COM | 580135101 | 17,161 | 181,000 | SH | DFND | 1 | 181,000 | 0 | 0 | |
| McGraw Hill Financial | COM | 580645109 | 8,361 | 99,000 | SH | DFND | 1 | 99,000 | 0 | 0 | |
| Microsoft Corp | COM | 594918104 | 37,922 | 818,000 | SH | DFND | 1 | 818,000 | 0 | 0 | |
| Monsanto Co | COM | 61166W101 | 5,851 | 52,000 | SH | DFND | 1 | 52,000 | 0 | 0 | |
| Moody's Corp | COM | 615369105 | 22,869 | 242,000 | SH | DFND | 1 | 242,000 | 0 | 0 | |
| National Oilwell | COM | 637071101 | 32,266 | 424,000 | SH | DFND | 1 | 424,000 | 0 | 0 | |
| Nicholas Financial | COM | 65373j209 | 116 | 10,000 | SH | DFND | 1 | 10,000 | 0 | 0 | |
| Nike | COM | 654106103 | 12,756 | 143,000 | SH | DFND | 1 | 143,000 | 0 | 0 | |
| Norfolk Southern | COM | 655844108 | 10,267 | 92,000 | SH | DFND | 1 | 92,000 | 0 | 0 | |
| Novo-Nordisk A/S | COM | 670100205 | 51,191 | 1,075,000 | SH | DFND | 1 | 1,075,000 | 0 | 0 | |
| Now Inc | COM | 67011P100 | 2,843 | 93,500 | SH | DFND | 1 | 93,500 | 0 | 0 | |
| Oaktree Capital Group LLC | COM | 674001201 | 1,788 | 35,000 | SH | DFND | 1 | 35,000 | 0 | 0 | |
| Oracle Corp | COM | 68389x105 | 24,423 | 638,000 | SH | DFND | 1 | 638,000 | 0 | 0 | |
| Patterson Companies Inc. | COM | 703395103 | 6,422 | 155,000 | SH | DFND | 1 | 155,000 | 0 | 0 | |
| Paychex | COM | 704326107 | 6,630 | 150,000 | SH | DFND | 1 | 150,000 | 0 | 0 | |
| Pepsico | COM | 713448108 | 12,502 | 134,300 | SH | DFND | 1 | 134,300 | 0 | 0 | |
| Philip Morris International | COM | 718172109 | 9,549 | 114,500 | SH | DFND | 1 | 114,500 | 0 | 0 | |
| Procter & Gamble | COM | 742718109 | 10,635 | 127,000 | SH | DFND | 1 | 127,000 | 0 | 0 | |
| RLI Corporation | COM | 749607107 | 51,830 | 1,197,272 | SH | DFND | 1 | 1,197,272 | 0 | 0 | |
| Rent-A-Center | COM | 76009N100 | 5,281 | 174,000 | SH | DFND | 1 | 174,000 | 0 | 0 | |
| Ritchie Bros | COM | 767744105 | 1,119 | 50,000 | SH | DFND | 1 | 50,000 | 0 | 0 | |
| Rollins, Inc. | COM | 775711104 | 2,547 | 87,000 | SH | DFND | 1 | 87,000 | 0 | 0 | |
| Ross Stores, Inc | COM | 778296103 | 1,738 | 23,000 | SH | DFND | 1 | 23,000 | 0 | 0 | |
| SEI Investments Co | COM | 784117103 | 8,570 | 237,000 | SH | DFND | 1 | 237,000 | 0 | 0 | |
| Schlumberger | COM | 806857108 | 33,253 | 327,000 | SH | DFND | 1 | 327,000 | 0 | 0 | |
| Sigma Aldrich | COM | 826552101 | 2,448 | 18,000 | SH | DFND | 1 | 18,000 | 0 | 0 | |
| Starz Liberty Capital | COM | 85571Q102 | 397 | 12,000 | SH | DFND | 1 | 12,000 | 0 | 0 | |
| Synalloy Corporation | COM | 871565107 | 8,445 | 485,343 | SH | SOLE | 485,343 | 0 | 0 | ||
| Synalloy Corporation | COM | 871565107 | 5,220 | 300,000 | SH | DFND | 1 | 300,000 | 0 | 0 | |
| T.Rowe Price | COM | 74144T108 | 862 | 11,000 | SH | SOLE | 11,000 | 0 | 0 | ||
| T.Rowe Price | COM | 74144T108 | 18,738 | 239,000 | SH | DFND | 1 | 239,000 | 0 | 0 | |
| Target | COM | 87612E106 | 2,068 | 33,000 | SH | DFND | 1 | 33,000 | 0 | 0 | |
| Teva Pharmaceuticals | COM | 881624209 | 23,865 | 444,000 | SH | DFND | 1 | 444,000 | 0 | 0 | |
| The Travelers Companies Inc | COM | 89417e109 | 20,103 | 214,000 | SH | DFND | 1 | 214,000 | 0 | 0 | |
| Unilever PLC ADR | COM | 904767704 | 50,154 | 1,197,000 | SH | DFND | 1 | 1,197,000 | 0 | 0 | |
| United Health Group Inc | COM | 91324P102 | 55,545 | 644,000 | SH | DFND | 1 | 644,000 | 0 | 0 | |
| United Parcel Service | COM | 911312106 | 71,408 | 726,500 | SH | DFND | 1 | 726,500 | 0 | 0 | |
| United Technologies | COM | 913017109 | 5,597 | 53,000 | SH | DFND | 1 | 53,000 | 0 | 0 | |
| Visa | COM | 92826C839 | 38,087 | 178,500 | SH | DFND | 1 | 178,500 | 0 | 0 | |
| W.P. Carey | COM | 92936U109 | 2,870 | 45,000 | SH | SOLE | 45,000 | 0 | 0 | ||
| W.P. Carey | COM | 92936U109 | 57,725 | 905,200 | SH | DFND | 1 | 905,200 | 0 | 0 | |
| Wal-Mart Stores | COM | 931142103 | 83,964 | 1,098,000 | SH | DFND | 1 | 1,098,000 | 0 | 0 | |
| Walgreen | COM | 931422109 | 126,541 | 2,135,000 | SH | DFND | 1 | 2,135,000 | 0 | 0 | |
| Wellpoint Inc | COM | 94973V107 | 24,522 | 205,000 | SH | DFND | 1 | 205,000 | 0 | 0 | |