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
BAIDU INC SPON ADR REP A 056752108 9,119 40,000 SH   DFND 1 0 40,000 0
BAIDU INC SPON ADR REP A 056752108 17,098 75,000 SH   DFND 1 0 75,000 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 9,040 40 SH   DFND 1 0 40 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 106,446 471 SH   DFND 1 0 471 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 4,772 31,780 SH   DFND 1 0 31,780 0
CREDIT ACCEP CORP MICH COM 225310101 6,889 50,503 SH   DFND 1 0 50,503 0
DANAHER CORP DEL COM 235851102 943 11,000 SH   DFND 1 0 11,000 0
DOLBY LABORATORIES INC COM 25659T107 15,954 370,000 SH   DFND 1 0 370,000 0
GOOGLE INC CL A 38259P508 4,245 8,000 SH   DFND 1 0 8,000 0
GOOGLE INC CL A 38259P508 18,403 34,680 SH   DFND 1 0 34,680 0
GOOGLE INC CL C 38259P508 4,211 8,000 SH   DFND 1 0 8,000 0
GOOGLE INC CL C 38259P508 18,256 34,680 SH   DFND 1 0 34,680 0
MRC Global INC COM 55345K103 8,333 550,000 SH   DFND 1 0 550,000 0
MARKEL CORP COM 570535104 1,588 2,325 SH   DFND 1 0 2,325 0
NOW INC COM 67011P100 3,373 131,100 SH   DFND 1 0 131,100 0
VERISIGN INC COM 93243E102 22,800 400,000 SH   DFND 1 0 400,000 0