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 9,065 43,500 SH   DFND 1 0 43,500 0
BAIDU INC SPON ADR REP A 056752108 15,630 75,000 SH   DFND 1 0 75,000 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 8,700 40 SH   DFND 1 0 40 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 102,443 471 SH   DFND 1 0 471 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 4,586 31,780 SH   DFND 1 0 31,780 0
CREDIT ACCEP CORP MICH COM 225310101 10,823 55,503 SH   DFND 1 0 55,503 0
DANAHER CORP DEL COM 235851102 934 11,000 SH   DFND 1 0 11,000 0
DOLBY LABORATORIES INC COM 25659T107 6,487 170,000 SH   DFND 1 0 170,000 0
GOOGLE INC CL A 38259P508 8,875 16,000 SH   DFND 1 0 16,000 0
GOOGLE INC CL A 38259P508 19,237 34,680 SH   DFND 1 0 34,680 0
GOOGLE INC CL C 38259P508 19,005 34,680 SH   DFND 1 0 34,680 0
MRC Global INC COM 55345K103 6,518 550,000 SH   DFND 1 0 550,000 0
MARKEL CORP COM 570535104 1,788 2,325 SH   DFND 1 0 2,325 0
NOW INC COM 67011P100 4,728 218,500 SH   DFND 1 0 218,500 0
VERISIGN INC COM 93243E102 26,788 400,000 SH   DFND 1 0 400,000 0
Microsoft CORP COM 594918104 8,132 200,000 SH   DFND 1 0 200,000 0