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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALIBABAGROUPHLDGLTD SPONSOREDADS 01609W102   434,047 5,004 SH   DFND   0 0 0
ALPHABETINC CAPSTKCLA 02079K305   30,637,467 234,124 SH   DFND   0 0 0
ALPHABETINC CAPSTKCLC 02079K107   119,498,819 906,324 SH   DFND   0 0 0
AMETEKINC COM 031100100   132,548,995 897,056 SH   DFND   0 0 0
ANALOGDEVICESINC COM 032654105   32,586,525 186,113 SH   DFND   0 0 0
APPLEINC COM 037833100   2,456,692 14,349 SH   DFND   0 0 0
ARISTANETWORKSINC COM 040413106   18,153,891 98,700 SH   SOLE   0 0 0
AUTOHOMEINC SPADSRPCLA 05278C107   10,414,208 343,137 SH   DFND   0 0 0
BANKOZKLITTLEROCKARK COM 06417N103   8,745,777 235,926 SH   DFND   0 0 0
BERKSHIREHATHAWAYINCDEL CLA 084670108   3,188,862 6 SH   DFND   0 0 0
BERKSHIREHATHAWAYINCDEL CLBNEW 084670702   166,844,387 476,290 SH   DFND   0 0 0
BANKAMERICACORP COM 060505104   28,130,322 1,027,404 SH   DFND   0 0 0
BOOTBARNHLDGSINC COM 099406100   670,061 8,253 SH   DFND   0 0 0
BROOKFIELDCORP CLALTDVTSH 11271J107   458,762 14,671 SH   DFND   0 0 0
CARMAXINC COM 143130102   107,540,580 1,520,438 SH   DFND   0 0 0
CGIINC CLASUBVTG 12532H104   224,651 1,678 SH   DFND   0 0 0
CIENACORP COMNEW 171779309   30,031,981 635,463 SH   DFND   0 0 0
COHERENTCORP COM 19247G107   23,099,654 707,710 SH   SOLE   0 0 0
COPARTINC COM 217204106   1,184,286 27,484 SH   DFND   0 0 0
CREDITACCEPCORPMICH COM 225310101   10,170,492 22,104 SH   SOLE   0 0 0
DISNEYWALTCO COM 254687106   18,707,799 230,818 SH   DFND   0 0 0
EDWARDSLIFESCIENCESCORP COM 28176E108   30,524,907 440,602 SH   DFND   0 0 0
FASTENALCO COM 311900104   489,247 8,954 SH   DFND   0 0 0
FERGUSONPLCNEWF COM G3421J106   4,306,647 26,185 SH   SOLE   0 0 0
FISERVINC COM 337738108   36,044,858 319,094 SH   DFND   0 0 0
FIVEBELOWINC COM 33829M101   103,710,669 644,566 SH   DFND   0 0 0
FLOOR&DECORHLDGSINC CLA 339750101   25,652,678 283,455 SH   DFND   0 0 0
FORTUNEBRANDSHOME&SECIN COM 34964C106   55,972,469 900,458 SH   DFND   0 0 0
HEICOCORPNEW CLA 422806208   92,063,177 712,453 SH   DFND   0 0 0
INSTALLEDBLDGPRODSINC COM 45780R101   54,064,631 432,898 SH   DFND   0 0 0
ISHARESSILVERTR ISHARES 46428Q109   467,820 23,000 SH   SOLE   0 0 0
ISHARESTR U.S.FINLSETF 464287788   209,552 2,803 SH   DFND   0 0 0
ISHARESTR USHOMECONSETF 464288752   1,095,877 13,962 SH   DFND   0 0 0
JPMORGANCHASE&CO COM 46625H100   5,308,602 36,606 SH   DFND   0 0 0
KEYSIGHTTECHNOLOGIESINC COM 49338L103   62,170,881 469,888 SH   DFND   0 0 0
KINSALECAPITALGROUPINC COM 49714P108   1,058,102 2,555 SH   DFND   0 0 0
KNIGHT-SWIFTTRANSNHLDGSIN CLA 499049104   390,618 7,789 SH   DFND   0 0 0
LITTELFUSEINC COM 537008104   18,800,772 76,018 SH   DFND   0 0 0
LULULEMONATHLETICAINC COM 550021109   46,500,324 120,589 SH   DFND   0 0 0
M&TBKCORP COM 55261F104   43,260,948 342,119 SH   DFND   0 0 0
MARKELCORP COMMONSTOCK 570535104   124,462,217 84,525 SH   DFND   0 0 0
MASTERBRANDINC COM 57638P104   11,048,943 909,378 SH   DFND   0 0 0
MASTERCARDINCORPORATED CLA 57636Q104   8,219,092 20,760 SH   DFND   0 0 0
MEDPACEHOLDINGSINC COM 58506Q109   910,409 3,760 SH   DFND   0 0 0
METAPLATFORMSINC CLA 30303M102   84,794,014 282,449 SH   DFND   0 0 0
MICROSOFTCORP COM 594918104   1,136,700 3,600 SH   DFND   0 0 0
NOVO-NORDISKAS ADR 670100205   1,127,656 12,400 SH   DFND   0 0 0
NVRINC COM 62944T105   75,578,864 12,674 SH   DFND   0 0 0
OLDDOMINIONFREIGHTLINEIN COM 679580100   1,663,972 4,067 SH   DFND   0 0 0
PROGRESSIVECORP COM 743315103   69,849,338 501,431 SH   DFND   0 0 0
ROPERTECHNOLOGIESINC COM 776696106   646,514 1,335 SH   DFND   0 0 0
SCHWABCHARLESCORP COM 808513105   44,170,399 804,561 SH   DFND   0 0 0
SITEONELANDSCAPESUPPLYINC COM 82982L103   613,428 3,753 SH   DFND   0 0 0
SPDRGOLDTR GOLDSHS 78463V107   721,119 4,206 SH   DFND   0 0 0
SPDRS&P500ETFTR TRUNIT 78462F103   2,031,385 4,752 SH   DFND   0 0 0
STARBUCKSCORP COM 855244109   567,061 6,213 SH   DFND   0 0 0
TAIWANSEMICONDUCTORMFGLTD SPONSOREDADS 874039100   716,056 8,240 SH   DFND   0 0 0
TJXCOSINCNEW COM 872540109   772,989 8,697 SH   DFND   0 0 0
VISAINC COMCLA 92826C839   85,418,814 371,370 SH   DFND   0 0 0