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
ACTIVISION BLIZZARD INC COM 00507V109 1,814 30,524 SH   SOLE   0 0 30,524
ALERUS FINL CORP COM 01446U103 459 20,100 SH   SOLE   0 0 20,100
ALLEGHANY CORP DEL COM 017175100 9,468 11,841 SH   SOLE   0 0 11,841
ALPHABET INC CAP STK CL C 02079K107 1,941 1,452 SH   SOLE   0 0 1,452
ALTRIA GROUP INC COM 02209S103 448 8,973 SH   SOLE   0 0 8,973
AMAZON COM INC COM 023135106 346 187 SH   SOLE   0 0 187
AMERICAN EXPRESS CO COM 025816109 249 2,000 SH   SOLE   0 0 2,000
APPLE INC COM 037833100 5,248 17,873 SH   SOLE   0 0 17,873
AT&T INC COM 00206R102 774 19,804 SH   SOLE   0 0 19,804
AUTOMATIC DATA PROCESSING IN COM 053015103 215 1,260 SH   SOLE   0 0 1,260
AUTOZONE INC COM 053332102 523 439 SH   SOLE   0 0 439
AVALONBAY CMNTYS INC COM 053484101 283 1,350 SH   SOLE   0 0 1,350
BANK AMER CORP COM 060505104 2,282 64,806 SH   SOLE   0 0 64,806
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 29,980 132,363 SH   SOLE   0 0 132,363
BOOKING HLDGS INC COM 09857L108 1,429 696 SH   SOLE   0 0 696
BOSTON PROPERTIES INC COM 101121101 307 2,225 SH   SOLE   0 0 2,225
CABLE ONE INC COM 12685J105 4,284 2,878 SH   SOLE   0 0 2,878
CHEVRON CORP NEW COM 166764100 612 5,078 SH   SOLE   0 0 5,078
COCA COLA CO COM 191216100 4,504 81,378 SH   SOLE   0 0 81,378
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 638 10,284 SH   SOLE   0 0 10,284
COLFAX CORP COM 194014106 6,224 171,085 SH   SOLE   0 0 171,085
CORNING INC COM 219350105 5,034 172,927 SH   SOLE   0 0 172,927
COSTCO WHSL CORP NEW COM 22160K105 581 1,976 SH   SOLE   0 0 1,976
DELTA AIR LINES INC DEL COM NEW 247361702 4,021 68,756 SH   SOLE   0 0 68,756
DIAGEO P L C SPON ADR NEW 25243Q205 2,940 17,454 SH   SOLE   0 0 17,454
DIAMOND OFFSHORE DRILLING IN COM 25271C102 149 20,788 SH   SOLE   0 0 20,788
DISCOVERY INC COM SER A 25470F104 7,388 225,663 SH   SOLE   0 0 225,663
DISNEY WALT CO COM DISNEY 254687106 6,619 45,767 SH   SOLE   0 0 45,767
DOVER MOTORSPORTS INC COM 260174107 218 117,260 SH   SOLE   0 0 117,260
EXXON MOBIL CORP COM 30231G102 4,601 65,936 SH   SOLE   0 0 65,936
FACEBOOK INC CL A 30303M102 2,212 10,779 SH   SOLE   0 0 10,779
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 277 2,150 SH   SOLE   0 0 2,150
FEDEX CORP COM 31428X106 572 3,780 SH   SOLE   0 0 3,780
GENERAL ELECTRIC CO COM 369604103 121 10,870 SH   SOLE   0 0 10,870
GENUINE PARTS CO COM 372460105 4,899 46,115 SH   SOLE   0 0 46,115
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 1,346 28,650 SH   SOLE   0 0 28,650
GRAHAM HLDGS CO COM 384637104 1,597 2,500 SH   SOLE   0 0 2,500
HASBRO INC COM 418056107 3,568 33,782 SH   SOLE   0 0 33,782
HONEYWELL INTL INC COM 438516106 384 2,172 SH   SOLE   0 0 2,172
INGERSOLL-RAND PLC SHS G47791101 242 1,822 SH   SOLE   0 0 1,822
INTEL CORP COM 458140100 4,041 67,521 SH   SOLE   0 0 67,521
INTERNATIONAL BUSINESS MACHS COM 459200101 4,057 30,269 SH   SOLE   0 0 30,269
ISHARES TR MSCI EAFE ETF 464287465 213 3,072 SH   SOLE   0 0 3,072
JEFFERIES FINL GROUP INC COM 47233W109 7,697 360,196 SH   SOLE   0 0 360,196
JOHNSON & JOHNSON COM 478160104 5,517 37,818 SH   SOLE   0 0 37,818
JOHNSON CTLS INTL PLC SHS G51502105 4,599 112,963 SH   SOLE   0 0 112,963
JPMORGAN CHASE & CO COM 46625H100 2,918 20,931 SH   SOLE   0 0 20,931
LIBERTY MEDIA CORP DELAWARE COM SER C FRMLA 531229854 363 7,900 SH   SOLE   0 0 7,900
LOCKHEED MARTIN CORP COM 539830109 2,223 5,710 SH   SOLE   0 0 5,710
LOEWS CORP COM 540424108 7,551 143,850 SH   SOLE   0 0 143,850
LOWES COS INC COM 548661107 303 2,530 SH   SOLE   0 0 2,530
MADISON SQUARE GARDEN CO NEW CL A 55825T103 8,384 28,499 SH   SOLE   0 0 28,499
MARKEL CORP COM 570535104 22,222 19,439 SH   SOLE   0 0 19,439
MARRIOTT INTL INC NEW CL A 571903202 521 3,442 SH   SOLE   0 0 3,442
MARSH & MCLENNAN COS INC COM 571748102 2,900 26,030 SH   SOLE   0 0 26,030
MCDONALDS CORP COM 580135101 439 2,221 SH   SOLE   0 0 2,221
MICROSOFT CORP COM 594918104 6,599 41,844 SH   SOLE   0 0 41,844
MOHAWK INDS INC COM 608190104 4,608 33,785 SH   SOLE   0 0 33,785
NORFOLK SOUTHERN CORP COM 655844108 6,662 34,319 SH   SOLE   0 0 34,319
NORWEGIAN CRUISE LINE HLDG L SHS G66721104 9,016 154,360 SH   SOLE   0 0 154,360
PARKER HANNIFIN CORP COM 701094104 905 4,396 SH   SOLE   0 0 4,396
PAYCHEX INC COM 704326107 8,130 95,585 SH   SOLE   0 0 95,585
PENTAIR PLC SHS G7S00T104 598 13,039 SH   SOLE   0 0 13,039
PEPSICO INC COM 713448108 6,128 44,834 SH   SOLE   0 0 44,834
PFIZER INC COM 717081103 650 16,594 SH   SOLE   0 0 16,594
PHILIP MORRIS INTL INC COM 718172109 385 4,524 SH   SOLE   0 0 4,524
PRICE T ROWE GROUP INC COM 74144T108 9,506 78,019 SH   SOLE   0 0 78,019
PROGRESSIVE CORP OHIO COM 743315103 8,674 119,817 SH   SOLE   0 0 119,817
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 444 7,530 SH   SOLE   0 0 7,530
RYANAIR HLDGS PLC SPONSORED ADS 783513203 6,366 72,668 SH   SOLE   0 0 72,668
SANDY SPRING BANCORP INC COM 800363103 4,012 105,909 SH   SOLE   0 0 105,909
SEI INVESTMENTS CO COM 784117103 1,170 17,869 SH   SOLE   0 0 17,869
SPDR S&P 500 ETF TR TR UNIT 78462F103 436 1,356 SH   SOLE   0 0 1,356
STARBUCKS CORP COM 855244109 1,802 20,499 SH   SOLE   0 0 20,499
TD AMERITRADE HLDG CORP COM 87236Y108 2,311 46,501 SH   SOLE   0 0 46,501
TRIPADVISOR INC COM 896945201 812 26,715 SH   SOLE   0 0 26,715
TRUIST FINL CORP COM 89832Q109 363 6,439 SH   SOLE   0 0 6,439
ULTA BEAUTY INC COM 90384S303 1,033 4,082 SH   SOLE   0 0 4,082
UNILEVER PLC SPON ADR NEW 904767704 234 4,090 SH   SOLE   0 0 4,090
VERIZON COMMUNICATIONS INC COM 92343V104 446 7,264 SH   SOLE   0 0 7,264
WALGREENS BOOTS ALLIANCE INC COM 931427108 5,999 101,747 SH   SOLE   0 0 101,747
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 377 12,935 SH   SOLE   0 0 12,935
WELLS FARGO CO NEW COM 949746101 5,398 100,340 SH   SOLE   0 0 100,340
WHIRLPOOL CORP COM 963320106 2,010 13,623 SH   SOLE   0 0 13,623