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

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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
ALPHABET INC CAP STK CL A 02079K305 26,989 25,828 SH   SOLE 0 25,828 0 0
ALPHABET INC CAP STK CL C 02079K107 26,820 25,898 SH   SOLE 0 25,898 0 0
AMAZON COM INC COM 023135106 52,569 35,000 SH   SOLE 0 35,000 0 0
APPLE INC COM 037833100 63,096 400,000 SH   SOLE 0 400,000 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 20,418 100,000 SH   SOLE 0 100,000 0 0
BOOKING HLDGS INC COM 09857L108 2,584 1,500 SH   SOLE 0 1,500 0 0
COSTCO WHSL CORP NEW COM 22160K105 50,928 250,000 SH   SOLE 0 250,000 0 0
DISNEY WALT CO COM DISNEY 254687106 10,965 100,000 SH   SOLE 0 100,000 0 0
FACEBOOK INC CL A 30303M102 65,545 500,000 SH   SOLE 0 500,000 0 0
MARKEL CORP COM 570535104 33,513 32,285 SH   SOLE 0 32,285 0 0
MICROSOFT CORP COM 594918104 5,079 50,000 SH   SOLE 0 50,000 0 0
PAYPAL HLDGS INC COM 70450Y103 42,045 500,000 SH   SOLE 0 500,000 0 0
PULTE GROUP INC COM 745867101 25,990 1,000,000 SH   SOLE 0 1,000,000 0 0
SOUTHWEST AIRLS CO COM 844741108 58,565 1,260,000 SH   SOLE 0 1,260,000 0 0
VALHI INC NEW COM 918905100 665 344,790 SH   SOLE 0 344,790 0 0