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
APPLE INC COM 037833100 3,782 14,873 SH   SOLE   0 0 14,873
BOSTON PROPERTIES INC COM 101121101 205 2,225 SH   SOLE   0 0 2,225
CHEVRON CORP NEW COM 166764100 371 5,126 SH   SOLE   0 0 5,126
DELTA AIR LINES INC DEL COM NEW 247361702 1,714 60,094 SH   SOLE   0 0 60,094
INTEL CORP COM 458140100 3,646 67,369 SH   SOLE   0 0 67,369
LOWES COS INC COM 548661107 788 9,156 SH   SOLE   0 0 9,156
MICROSOFT CORP COM 594918104 5,235 33,193 SH   SOLE   0 0 33,193
PAYCHEX INC COM 704326107 5,392 85,696 SH   SOLE   0 0 85,696
PFIZER INC COM 717081103 537 16,464 SH   SOLE   0 0 16,464
PHILIP MORRIS INTL INC COM 718172109 309 4,231 SH   SOLE   0 0 4,231
SANDY SPRING BANCORP INC COM 800363103 2,359 104,182 SH   SOLE   0 0 104,182
STARBUCKS CORP COM 855244109 1,794 27,292 SH   SOLE   0 0 27,292
AT&T INC COM 00206R102 490 16,813 SH   SOLE   0 0 16,813
ALTRIA GROUP INC COM 02209S103 334 8,638 SH   SOLE   0 0 8,638
VERIZON COMMUNICATIONS INC COM 92343V104 259 4,813 SH   SOLE   0 0 4,813
ALLEGHANY CORP DEL COM 017175100 6,439 11,658 SH   SOLE   0 0 11,658
AMAZON COM INC COM 023135106 628 322 SH   SOLE   0 0 322
AUTOZONE INC COM 053332102 1,028 1,215 SH   SOLE   0 0 1,215
BK OF AMERICA CORP COM 060505104 1,379 64,977 SH   SOLE   0 0 64,977
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 24,403 133,471 SH   SOLE   0 0 133,471
COCA COLA CO COM 191216100 3,596 81,264 SH   SOLE   0 0 81,264
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 431 9,266 SH   SOLE   0 0 9,266
COLFAX CORP COM 194014106 3,363 169,860 SH   SOLE   0 0 169,860
CORNING INC COM 219350105 3,564 173,499 SH   SOLE   0 0 173,499
DISNEY WALT CO COM DISNEY 254687106 4,537 46,964 SH   SOLE   0 0 46,964
DOVER MOTORSPORTS INC COM 260174107 147 117,476 SH   SOLE   0 0 117,476
GENERAL ELECTRIC CO COM 369604103 85 10,701 SH   SOLE   0 0 10,701
GENUINE PARTS CO COM 372460105 3,425 50,867 SH   SOLE   0 0 50,867
GRAHAM HLDGS CO COM CL B 384637104 861 2,525 SH   SOLE   0 0 2,525
HASBRO INC COM 418056107 2,601 36,355 SH   SOLE   0 0 36,355
HONEYWELL INTL INC COM 438516106 297 2,219 SH   SOLE   0 0 2,219
INTERNATIONAL BUSINESS MACHS COM 459200101 3,265 29,435 SH   SOLE   0 0 29,435
JOHNSON & JOHNSON COM 478160104 4,849 36,982 SH   SOLE   0 0 36,982
LOCKHEED MARTIN CORP COM 539830109 2,990 8,821 SH   SOLE   0 0 8,821
LOEWS CORP COM 540424108 4,813 138,179 SH   SOLE   0 0 138,179
MARKEL CORP COM 570535104 17,725 19,103 SH   SOLE   0 0 19,103
MARSH & MCLENNAN COS INC COM 571748102 2,233 25,833 SH   SOLE   0 0 25,833
MARRIOTT INTL INC NEW CL A 571903202 270 3,606 SH   SOLE   0 0 3,606
MCDONALDS CORP COM 580135101 267 1,613 SH   SOLE   0 0 1,613
MOHAWK INDS INC COM 608190104 2,659 34,881 SH   SOLE   0 0 34,881
NIKE INC CL B 654106103 824 9,959 SH   SOLE   0 0 9,959
NORFOLK SOUTHERN CORP COM 655844108 5,227 35,802 SH   SOLE   0 0 35,802
PARKER HANNIFIN CORP COM 701094104 656 5,058 SH   SOLE   0 0 5,058
PEPSICO INC COM 713448108 5,233 43,574 SH   SOLE   0 0 43,574
PROGRESSIVE CORP OHIO COM 743315103 8,650 117,141 SH   SOLE   0 0 117,141
RYANAIR HOLDINGS PLC SPONSORED ADS 783513203 3,741 70,474 SH   SOLE   0 0 70,474
SEI INVESTMENTS CO COM 784117103 828 17,869 SH   SOLE   0 0 17,869
UNILEVER PLC SPON ADR NEW 904767704 207 4,090 SH   SOLE   0 0 4,090
WALGREENS BOOTS ALLIANCE INC COM 931427108 4,673 102,138 SH   SOLE   0 0 102,138
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 237 9,911 SH   SOLE   0 0 9,911
WELLS FARGO CO NEW COM 949746101 2,885 100,534 SH   SOLE   0 0 100,534
WHIRLPOOL CORP COM 963320106 1,108 12,911 SH   SOLE   0 0 12,911
ACTIVISION BLIZZARD INC COM 00507V109 1,827 30,712 SH   SOLE   0 0 30,712
ALERUS FINL CORP COM 01446U103 332 20,100 SH   SOLE   0 0 20,100
ALPHABET INC CAP STK CL C 02079K107 1,983 1,705 SH   SOLE   0 0 1,705
BOOKING HLDGS INC COM 09857L108 1,609 1,196 SH   SOLE   0 0 1,196
CABLE ONE INC COM 12685J105 4,214 2,563 SH   SOLE   0 0 2,563
COSTCO WHSL CORP NEW COM 22160K105 568 1,992 SH   SOLE   0 0 1,992
DIAGEO P L C SPON ADR NEW 25243Q205 2,870 22,576 SH   SOLE   0 0 22,576
DIAMOND OFFSHORE DRILLING IN COM 25271C102 38 20,788 SH   SOLE   0 0 20,788
DISCOVERY INC COM SER A 25470F104 4,234 217,780 SH   SOLE   0 0 217,780
EXXON MOBIL CORP COM 30231G102 2,343 61,703 SH   SOLE   0 0 61,703
FACEBOOK INC CL A 30303M102 1,920 11,510 SH   SOLE   0 0 11,510
FEDEX CORP COM 31428X106 458 3,780 SH   SOLE   0 0 3,780
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 1,086 28,650 SH   SOLE   0 0 28,650
JPMORGAN CHASE & CO COM 46625H100 1,902 21,130 SH   SOLE   0 0 21,130
JEFFERIES FINL GROUP INC COM 47233W109 4,145 303,197 SH   SOLE   0 0 303,197
MADISON SQUARE GARDEN CO NEW CL A 55825T103 6,055 28,642 SH   SOLE   0 0 28,642
PRICE T ROWE GROUP INC COM 74144T108 7,528 77,093 SH   SOLE   0 0 77,093
SPDR S&P 500 ETF TR TR UNIT 78462F103 352 1,366 SH   SOLE   0 0 1,366
SPDR GOLD TRUST GOLD SHS 78463V107 202 1,367 SH   SOLE   0 0 1,367
TD AMERITRADE HLDG CORP COM 87236Y108 1,696 48,926 SH   SOLE   0 0 48,926
ULTA BEAUTY INC COM 90384S303 946 5,383 SH   SOLE   0 0 5,383
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 405 2,483 SH   SOLE   0 0 2,483
JOHNSON CTLS INTL PLC SHS G51502105 2,928 108,602 SH   SOLE   0 0 108,602
NORWEGIAN CRUISE LINE HLDG L SHS G66721104 676 61,715 SH   SOLE   0 0 61,715
PENTAIR PLC SHS G7S00T104 385 12,921 SH   SOLE   0 0 12,921