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
AMAZON INC COM 023135106 573 1,120 SH   DFND 1 0 1,120 0
BAIDU INC SPON ADR REP A 056752108 9,619 70,000 SH   DFND 1 0 70,000 0
BAIDU INC SPON ADR REP A 056752108 11,680 85,000 SH   DFND 1 0 85,000 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 9,762 50 SH   DFND 1 0 50 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 91,958 471 SH   DFND 1 0 471 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 4,144 31,780 SH   DFND 1 0 31,780 0
CREDIT ACCEP CORP MICH COM 225310101 10,927 55,503 SH   DFND 1 0 55,503 0
DANAHER CORP DEL COM 235851102 937 11,000 SH   DFND 1 0 11,000 0
DEERE & CO COM 244199105 8,880 120,000 SH   DFND 1 0 120,000 0
DOLBY LABORATORIES INC COM 25659T107 4,430 135,886 SH   DFND 1 0 135,886 0
DOLBY LABORATORIES INC COM 25659T107 391 12,000 SH   DFND 1 0 12,000 0
GOOGLE INC CL A 38259P508 19,151 30,000 SH   DFND 1 0 30,000 0
GOOGLE INC CL A 38259P508 1,149 1,800 SH   DFND 1 0 1,800 0
GOOGLE INC CL A 38259P508 1,468 2,300 SH   DFND 1 0 2,300 0
GOOGLE INC CL A 38259P508 25,331 39,680 SH   DFND 1 0 39,680 0
GOOGLE INC CL C 38259P706 21,158 34,775 SH   DFND 1 0 34,775 0
LEUCADIA NATL CORP COM 527288104 1,114 55,000 SH   DFND 1 0 55,000 0
LEUCADIA NATL CORP COM 527288104 466 23,000 SH   DFND 1 0 23,000 0
MARKEL CORP COM 570535104 1,864 2,325 SH   DFND 1 0 2,325 0
MICROSOFT CORP COM 594918104 974 22,000 SH   DFND 1 0 22,000 0
MICROSOFT CORP COM 594918104 443 10,000 SH   DFND 1 0 10,000 0
MICROSOFT CORP COM 594918104 27,884 630,000 SH   DFND 1 0 630,000 0
MORNINGSTAR INC COM 617700109 401 5,000 SH   DFND 1 0 5,000 0
NATIONAL OILWELL VARCO INC COM 637071101 1,092 29,000 SH   DFND 1 0 29,000 0
NATIONAL OILWELL VARCO INC COM 637071101 772 20,500 SH   DFND 1 0 20,500 0
NOW INC COM 67011P100 740 50,000 SH   DFND 1 0 50,000 0
NOW INC COM 67011P100 740 50,000 SH   DFND 1 0 50,000 0
NOW INC COM 67011P100 9,894 668,500 SH   DFND 1 0 668,500 0
TRUPANION INC COM 898202106 2,265 300,000 SH   DFND 1 0 300,000 0
VERISIGN INC COM 93243E102 706 10,000 SH   DFND 1 0 10,000 0
VERISIGN INC COM 93243E102 28,224 400,000 SH   DFND 1 0 400,000 0