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
ATHENE HLDG LTD CL A G0684D107 5,167 120,000 SH   SOLE   120,000 0 0
AXALTA COATING SYS LTD COM G0750C108 3,031 101,800 SH   SOLE   101,800 0 0
ACCENTURE PLC IRELAND SHS CL A G1151C101 27,716 150,000 SH   SOLE   150,000 0 0
COCA COLA EUROPEAN PARTNERS SHS G25839104 4,972 88,000 SH   SOLE   88,000 0 0
EATON CORP PLC SHS G29183103 26,083 313,200 SH   SOLE   313,200 0 0
MEDTRONIC PLC COM G5960L103 67,225 690,264 SH   SOLE   690,264 0 0
WILLIS TOWERS WATSON PUB LTD SHS G96629103 2,576 13,450 SH   SOLE   13,450 0 0
CHUBB LIMITED COM H1467J104 35,622 241,850 SH   SOLE   241,850 0 0
GARMIN LTD SHS H2906T109 2,793 35,000 SH   SOLE   35,000 0 0
TE CONNECTIVITY LTD REG SHS H84989104 28,667 299,300 SH   SOLE   299,300 0 0
INTERXION HOLDING N.V SHS N47279109 9,930 130,500 SH   SOLE   130,500 0 0
ALLEGHANY CORP DEL COM 017175100 7,415 10,886 SH   SOLE   10,886 0 0
AMERCO COM 023586100 6,435 17,000 SH   SOLE   17,000 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 5,598 171,650 SH   SOLE   171,650 0 0
AMETEK INC NEW COM 031100100 19,712 217,000 SH   SOLE   217,000 0 0
ANADARKO PETE CORP COM 032511107 265 3,750 SH   SOLE   3,750 0 0
ANSYS INC COM 03662Q105 32,177 157,100 SH   SOLE   157,100 0 0
APACHE CORP COM 037411105 290 10,000 SH   SOLE   10,000 0 0
APPLE INC COM 037833100 689 3,480 SH   SOLE   3,480 0 0
ARROW ELECTRS INC COM 042735100 5,595 78,500 SH   SOLE   78,500 0 0
AVID BIOSERVICES INC COM 05368M106 2,016 360,000 SH   SOLE   360,000 0 0
AVNET INC COM 053807103 3,169 70,000 SH   SOLE   70,000 0 0
BB&T CORP COM 054937107 21,691 441,500 SH   SOLE   441,500 0 0
BANK NEW YORK MELLON CORP COM 064058100 243 5,500 SH   SOLE   5,500 0 0
BARRICK GOLD CORPORATION COM 067901108 1,262 80,000 SH   SOLE   80,000 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 955 3 SH   SOLE   3 0 0
BERKSHIRE HATHAWAY INC DEL CL B 084670702 1,828 8,575 SH   SOLE   8,575 0 0
BLACKROCK INC COM 09247X101 26,304 56,050 SH   SOLE   56,050 0 0
BOOKING HLDGS INC COM 09857L108 45,452 24,245 SH   SOLE   24,245 0 0
BROADRIDGE FINL SOLUTIONS IN COM 11133T103 55,643 435,800 SH   SOLE   435,800 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 44,077 922,500 SH   SOLE   922,500 0 0
BROWN FORMAN CORP CL B 115637209 2,848 51,375 SH   SOLE   51,375 0 0
CANADIAN NATL RY CO COM 136375102 1,017 11,000 SH   SOLE   11,000 0 0
CISCO SYS INC COM 17275R102 25,504 466,000 SH   SOLE   466,000 0 0
CITIGROUP INC COM NEW 172967424 2,150 30,700 SH   SOLE   30,700 0 0
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 25,673 405,000 SH   SOLE   405,000 0 0
COPART INC COM 217204106 46,264 619,000 SH   SOLE   619,000 0 0
CORTEVA INC COM 22052L104 3,307 111,829 SH   SOLE   111,829 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 32,404 571,000 SH   SOLE   571,000 0 0
DEVON ENERGY CORP NEW COM 25179M103 513 18,000 SH   SOLE   18,000 0 0
DIAGEO P L C SPON ADR NEW 25243Q205 3,843 22,300 SH   SOLE   22,300 0 0
DISNEY WALT CO COM DISNEY 254687106 230 1,650 SH   SOLE   1,650 0 0
DISCOVER FINL SVCS COM 254709108 25,884 333,600 SH   SOLE   333,600 0 0
DOW INC COM 260557103 735 14,897 SH   SOLE   14,897 0 0
DUPONT DE NEMOURS INC COM 26614N102 6,177 82,279 SH   SOLE   82,279 0 0
ECOLAB INC COM 278865100 29,764 150,750 SH   SOLE   150,750 0 0
ELECTRONIC ARTS INC COM 285512109 1,316 13,000 SH   SOLE   13,000 0 0
ELEMENT SOLUTIONS INC COM 28618M106 3,681 356,000 SH   SOLE   356,000 0 0
EQUINIX INC COM NEW 29444U700 1,440 2,855 SH   SOLE   2,855 0 0
EXPEDITORS INTL WASH INC COM 302130109 8,345 110,000 SH   SOLE   110,000 0 0
EXXON MOBIL CORP COM 30231G102 5,302 69,188 SH   SOLE   69,188 0 0
FASTENAL CO COM 311900104 27,539 845,000 SH   SOLE   845,000 0 0
FEDERATED INVS INC PA CL B 314211103 215 6,600 SH   SOLE   6,600 0 0
FEDEX CORP COM 31428X106 36,401 221,700 SH   SOLE   221,700 0 0
FIRST HORIZON NATL CORP COM 320517105 3,815 255,500 SH   SOLE   255,500 0 0
FORTIVE CORP COM 34959J108 16,304 200,000 SH   SOLE   200,000 0 0
FRONTDOOR INC COM 35905A109 5,444 125,000 SH   SOLE   125,000 0 0
GENERAL DYNAMICS CORP COM 369550108 345 1,900 SH   SOLE   1,900 0 0
GENUINE PARTS CO COM 372460105 26,454 255,400 SH   SOLE   255,400 0 0
GILDAN ACTIVEWEAR INC COM 375916103 8,316 215,000 SH   SOLE   215,000 0 0
GRACO INC COM 384109104 41,271 822,450 SH   SOLE   822,450 0 0
GRAHAM HLDGS CO COM 384637104 3,450 5,000 SH   SOLE   5,000 0 0
HEICO CORP NEW COM 422806109 294 2,200 SH   SOLE   2,200 0 0
HEICO CORP NEW CL A 422806208 50,893 492,335 SH   SOLE   492,335 0 0
HEXCEL CORP NEW COM 428291108 58,234 720,000 SH   SOLE   720,000 0 0
IAA INC COM 449253103 4,848 125,000 SH   SOLE   125,000 0 0
ILLINOIS TOOL WKS INC COM 452308109 31,851 211,200 SH   SOLE   211,200 0 0
INTERACTIVE BROKERS GROUP IN COM 45841N107 4,336 80,000 SH   SOLE   80,000 0 0
IQVIA HLDGS INC COM 46266C105 2,027 12,600 SH   SOLE   12,600 0 0
ISHARES GOLD TRUST I SHARES 464285105 302 22,380 SH   SOLE   22,380 0 0
JOHNSON & JOHNSON COM 478160104 752 5,400 SH   SOLE   5,400 0 0
KAR AUCTION SVCS INC COM 48238T109 3,125 125,000 SH   SOLE   125,000 0 0
KKR & CO INC CL A 48251W104 1,928 76,300 SH   SOLE   76,300 0 0
KONINKLIJKE PHILIPS N V NY REG SH NEW 500472303 2,269 52,064 SH   SOLE   52,064 0 0
KROGER CO COM 501044101 646 29,750 SH   SOLE   29,750 0 0
LAMAR ADVERTISING CO NEW CL A 512816109 4,843 60,000 SH   SOLE   60,000 0 0
LIBERTY MEDIA CORP DELAWARE COM A BRAVES GRP 531229706 890 32,000 SH   SOLE   32,000 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C FRMLA 531229854 6,846 183,000 SH   SOLE   183,000 0 0
LIBERTY MEDIA CORP DELAWARE COM C BRAVES GRP 531229888 2,182 78,000 SH   SOLE   78,000 0 0
LOWES COS INC COM 548661107 57,604 570,850 SH   SOLE   570,850 0 0
MADISON SQUARE GARDEN CO NEW CL A 55825T103 15,117 54,000 SH   SOLE   54,000 0 0
MARKEL CORP COM 570535104 4,941 4,535 SH   SOLE   4,535 0 0
MASTERCARD INC CL A 57636Q104 41,174 155,650 SH   SOLE   155,650 0 0
MICROSOFT CORP COM 594918104 1,520 11,350 SH   SOLE   11,350 0 0
MOODYS CORP COM 615369105 51,850 265,475 SH   SOLE   265,475 0 0
NOBLE ENERGY INC COM 655044105 3,143 140,300 SH   SOLE   140,300 0 0
NORFOLK SOUTHERN CORP COM 655844108 9,628 48,300 SH   SOLE   48,300 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 23,267 63,000 SH   SOLE   63,000 0 0
PNC FINL SVCS GROUP INC COM 693475105 28,431 207,100 SH   SOLE   207,100 0 0
PAN AMERICAN SILVER CORP COM 697900108 452 35,000 SH   SOLE   35,000 0 0
PAYCHEX INC COM 704326107 313 3,800 SH   SOLE   3,800 0 0
PAYPAL HLDGS INC COM 70450Y103 343 3,000 SH   SOLE   3,000 0 0
PIONEER NAT RES CO COM 723787107 2,031 13,200 SH   SOLE   13,200 0 0
PULTE GROUP INC COM 745867101 269 8,500 SH   SOLE   8,500 0 0
QUALCOMM INC COM 747525103 308 4,050 SH   SOLE   4,050 0 0
QURATE RETAIL INC COM SER A 74915M100 3,952 318,991 SH   SOLE   318,991 0 0
RPM INTL INC COM 749685103 28,355 464,000 SH   SOLE   464,000 0 0
ROCKWELL AUTOMATION INC COM 773903109 22,936 140,000 SH   SOLE   140,000 0 0
ROPER TECHNOLOGIES INC COM 776696106 37,560 102,550 SH   SOLE   102,550 0 0
ROSETTA STONE INC COM 777780107 13,941 609,309 SH   SOLE   609,309 0 0
ROSS STORES INC COM 778296103 823 8,300 SH   SOLE   8,300 0 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 36,630 557,200 SH   SOLE   557,200 0 0
S&P GLOBAL INC COM 78409V104 26,424 116,000 SH   SOLE   116,000 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104 37,773 168,000 SH   SOLE   168,000 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 3,426 25,720 SH   SOLE   25,720 0 0
THE CHARLES SCHWAB CORPORATI COM 808513105 25,320 630,000 SH   SOLE   630,000 0 0
SMITH A O CORP COM 831865209 22,151 469,700 SH   SOLE   469,700 0 0
SPECTRUM BRANDS HLDGS INC NE COM 84790A105 5,565 103,500 SH   SOLE   103,500 0 0
STRYKER CORP COM 863667101 555 2,700 SH   SOLE   2,700 0 0
TJX COS INC NEW COM 872540109 17,049 322,400 SH   SOLE   322,400 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 1,508 38,500 SH   SOLE   38,500 0 0
TEXAS INSTRS INC COM 882508104 66,056 575,600 SH   SOLE   575,600 0 0
TEXAS PAC LD TR SUB CTF PROP I T 882610108 28,434 36,130 SH   SOLE   36,130 0 0
3M CO COM 88579Y101 260 1,500 SH   SOLE   1,500 0 0
TRACTOR SUPPLY CO COM 892356106 21,760 200,000 SH   SOLE   200,000 0 0
US BANCORP DEL COM NEW 902973304 21,620 412,600 SH   SOLE   412,600 0 0
UNITED PARCEL SERVICE INC CL B 911312106 22,151 214,500 SH   SOLE   214,500 0 0
V F CORP COM 918204108 38,386 439,450 SH   SOLE   439,450 0 0
VALVOLINE INC COM 92047W101 8,203 420,000 SH   SOLE   420,000 0 0
VANECK VECTORS ETF TR COM 92189F106 622 24,350 SH   SOLE   24,350 0 0
VISA INC COM CL A 92826C839 65,055 374,850 SH   SOLE   374,850 0 0
WALMART INC COM 931142103 227 2,050 SH   SOLE   2,050 0 0
WATSCO INC COM 942622200 29,027 177,500 SH   SOLE   177,500 0 0
WESTERN UN CO COM 959802109 1,591 80,000 SH   SOLE   80,000 0 0
WORKDAY INC CL A 98138H101 686 3,336 SH   SOLE   3,336 0 0
ZIMMER BIOMET HLDGS INC COM 98956P102 55,968 475,350 SH   SOLE   475,350 0 0