The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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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 |
| Allied World Assurance Co Hldg | COM | H01531104 | 74,365 | 1,999,599 | SH | SOLE | 1,997,194 | 0 | 2,270 | ||
| Arch Capital Group Ltd | COM | G0450A105 | 122,765 | 1,760,066 | SH | SOLE | 1,757,651 | 0 | 2,415 | ||
| Berkshire Hathaway Class A | COM | 084670108 | 6,923 | 35 | SH | SOLE | 35 | 0 | 0 | ||
| Berkshire Hathaway Class B | COM | 084670702 | 20,059 | 151,917 | SH | SOLE | 151,627 | 0 | 290 | ||
| Crimson Wine Group Ltd | COM | 22662X100 | 1,563 | 177,596 | SH | SOLE | 177,596 | 0 | 0 | ||
| Cummins Inc | COM | 231021106 | 59,115 | 671,685 | SH | SOLE | 671,180 | 0 | 455 | ||
| Deere & Co. | COM | 244199105 | 67,704 | 887,693 | SH | SOLE | 886,523 | 0 | 1,105 | ||
| Expeditors International of Washington | COM | 302130109 | 52,936 | 1,173,742 | SH | SOLE | 1,172,347 | 0 | 1,330 | ||
| Fastenal Co | COM | 311900104 | 78,179 | 1,915,219 | SH | SOLE | 1,912,829 | 0 | 2,265 | ||
| Goldman Sachs Group Inc | COM | 38141G104 | 96,310 | 534,372 | SH | SOLE | 533,677 | 0 | 670 | ||
| Leucadia National Corporation | COM | 527288104 | 34,982 | 2,011,636 | SH | SOLE | 2,009,471 | 0 | 2,165 | ||
| Mastercard Inc Class A | COM | 57636Q104 | 61,992 | 636,728 | SH | SOLE | 636,083 | 0 | 645 | ||
| Moody's Corp. | COM | 615369105 | 123,208 | 1,227,901 | SH | SOLE | 1,226,116 | 0 | 1,715 | ||
| NVR Inc. | COM | 62944T105 | 83,041 | 50,542 | SH | SOLE | 50,458 | 0 | 84 | ||
| Ross Stores Inc | COM | 778296103 | 49,189 | 914,127 | SH | SOLE | 912,972 | 0 | 1,095 | ||
| Strayer Education Inc | COM | 863236105 | 30,408 | 505,794 | SH | SOLE | 505,074 | 0 | 680 | ||
| Toll Brothers Inc | COM | 889478103 | 62,625 | 1,880,637 | SH | SOLE | 1,877,989 | 0 | 2,648 | ||
| US Bancorp | COM | 902973304 | 56,074 | 1,314,142 | SH | SOLE | 1,312,917 | 0 | 1,225 | ||
| Union Pacific Corporation | COM | 907818108 | 20,979 | 268,277 | SH | SOLE | 267,737 | 0 | 540 | ||
| Visa Inc Cl A | COM | 92826C839 | 59,591 | 768,421 | SH | SOLE | 767,481 | 0 | 940 | ||
| Waters Corp | COM | 941848103 | 18,897 | 140,418 | SH | SOLE | 140,418 | 0 | 0 | ||
| Wells Fargo & Company | COM | 949746101 | 103,218 | 1,898,783 | SH | SOLE | 1,896,369 | 0 | 2,414 | ||
| YUM! Brands Inc | COM | 988498101 | 75,916 | 1,039,239 | SH | SOLE | 1,037,195 | 0 | 2,022 | ||