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
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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 CL-A CL A 02079K305 7,166 6,346 SH   DFND   6,346 0 0
ALPHABET INC CL-C CL C 02079K107 40,102 35,945 SH   DFND   35,945 0 0
AMETEK INC COM 031100100 60,215 834,467 SH   DFND   834,467 0 0
BALCHEM CORP COM 057665200 222 2,266 SH   DFND   2,266 0 0
BANK OF THE OZARKS INC COM 063904106 66,683 1,480,528 SH   DFND   1,480,528 0 0
BERKSHIRE HATHAWAY-A-NEW CL A 084670108 1,692 6 SH   DFND   6 0 0
BERKSHIRE HATHAWAY-B-NEW CL B 084670702 163,834 877,758 SH   DFND   877,758 0 0
BROOKFIELD ASSET MGT-A LV CL A 112585104 536 13,223 SH   DFND   13,223 0 0
CARMAX INC COM 143130102 92,536 1,269,874 SH   DFND   1,269,874 0 0
CREDIT ACCEP CORP MICH COM 225310101 351 992 SH   DFND   992 0 0
DISNEY WALT COMPANY COM 254687106 35,291 336,712 SH   DFND   336,712 0 0
EDWARDS LIFESCIENCES CORP COM 28176E108 28,843 198,137 SH   DFND   198,137 0 0
FACEBOOK INC CL-A CL A 30303M102 23,402 120,428 SH   DFND   120,428 0 0
FIVE BELOW INC COM 33829M101 1,076 11,009 SH   DFND   11,009 0 0
FORTUNE BRNDS HME&SEC COM 34964C106 20,786 387,156 SH   DFND   387,156 0 0
HANESBRANDS INC COM 410345102 270 12,264 SH   DFND   12,264 0 0
HEICO CORP CLASS A CL A 422806208 32,372 531,120 SH   DFND   531,120 0 0
JP MORGAN CHASE & CO COM 46625H100 1,538 14,757 SH   DFND   14,757 0 0
LIBERTY MEDIA-C LIB FORM CL C 531229854 28,470 766,753 SH   DFND   766,753 0 0
LITTELFUSE INC COM 537008104 23,953 104,973 SH   SOLE   104,973 0 0
LKQ CORP COM 501889208 14,451 453,020 SH   DFND   453,020 0 0
LULULEMON ATHLETICA INC CO COM 550021109 574 4,600 SH   SOLE   4,600 0 0
M & T BANK CORP COM 55261F104 22,229 130,646 SH   DFND   130,646 0 0
MARKEL CORP HOLDING COM 570535104 40,829 37,653 SH   DFND   37,653 0 0
MASTERCARD INC CL-A CL A 57636Q104 942 4,794 SH   DFND   4,794 0 0
MOHAWK INDS INC COM 608190104 27,346 127,622 SH   DFND   127,622 0 0
O'REILLY AUTOMOTIVE COM 67103H107 30,303 110,770 SH   DFND   110,770 0 0
RYANAIR HLDGS PLC COM 783513203 286 2,500 SH   SOLE   2,500 0 0
SOUTHWEST AIRLINES CO COM 844741108 202 3,961 SH   DFND   3,961 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,428 5,264 SH   DFND   5,264 0 0
STANTEC INC COM 85472N109 547 21,329 SH   SOLE   21,329 0 0
UNION PACIFIC CORP COM 907818108 45,009 317,678 SH   DFND   317,678 0 0
VISA INC CLASS-A CL A 92826C839 52,529 396,592 SH   DFND   396,592 0 0
WELLS FARGO CO COM 949746101 22,118 398,950 SH   DFND   398,950 0 0
BOOKING HOLDINGS INC COM 09857L108 203 100 SH   DFND   100 0 0
TJX COMPANIES INC CM COM 872540109 680 7,148 SH   DFND   7,148 0 0