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
AUTOMATIC DATA PROCESSING IN COM 053015103 410 4,000 SH   SOLE   4,000 0 0
AMERICAN EXPRESS CO COM 025816109 1,902 22,576 SH   SOLE   17,538 0 5,038
BUILD A BEAR WORKSHOP COM 120076104 3,425 327,789 SH   SOLE   49,000 0 278,789
BERKSHIRE HATHAWAY CL A COM 084670108 4,075 16 SH   SOLE   13 0 3
BERKSHIRE HATHAWAY CL B COM 084670702 38,479 227,191 SH   SOLE   85,200 0 141,991
CNA FINL CORP COM 126117100 9,915 203,388 SH   SOLE   85,888 0 117,500
FIVE BELOW INC COM 33829M101 23,010 466,079 SH   SOLE   79,620 0 386,459
FOSSIL GROUP INC COM 34988V106 12,629 1,220,167 SH   SOLE   212,440 0 1,007,727
GOLDMAN SACHS GROUP INC COM 38141G104 23,877 107,604 SH   SOLE   25,637 0 81,967
INTERNATIONAL BUSINESS MACHS COM 459200101 277 1,800 SH   SOLE   0 0 1,800
LEUCADIA NATL CORP COM 527288104 21,094 806,363 SH   SOLE   107,250 0 699,113
M D C HLDGS INC COM 552676108 11,269 318,953 SH   SOLE   45,390 0 273,563
MARKEL CORP COM 570535104 651 667 SH   SOLE   667 0 0
STARBUCKS CORP COM 855244109 30,406 521,456 SH   SOLE   281,124 0 240,332
STAPLES INC COM 855030102 7,824 776,923 SH   SOLE   158,100 0 618,823
US BANCORP DEL COM 902973304 2,219 42,738 SH   SOLE   25,162 0 17,576
WELLS FARGO & CO COM 949746101 3,558 64,211 SH   SOLE   9,323 0 54,888