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
AON PLC SHS CL A G0403H108   44,390,706 147,900 SH   SOLE   147,900 0 0
AXALTA COATING SYS LTD COM G0750C108   13,269,870 521,000 SH   SOLE   521,000 0 0
ACCENTURE PLC IRELAND SHS CLASS A G1151C101   23,855,496 89,400 SH   SOLE   89,400 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120   33,244,730 1,711,000 SH   SOLE   1,711,000 0 0
LINDE PLC SHS G5494J103   19,163,075 58,750 SH   SOLE   58,750 0 0
LIBERTY LATIN AMERICA LTD COM CL C G9001E128   11,865,880 1,561,300 SH   SOLE   1,561,300 0 0
ACI WORLDWIDE INC COM 004498101   4,055,705 176,335 SH   SOLE   176,335 0 0
ADOBE SYSTEMS INC COM 00724F101   21,874,450 65,000 SH   SOLE   65,000 0 0
ALPHABET INC CAP STK CL C 02079K107   101,201,889 1,140,560 SH   SOLE   1,140,560 0 0
AMAZON COM INC COM 023135106   33,600,000 400,000 SH   SOLE   400,000 0 0
ANALOG DEVICES INC COM 032654105   39,432,812 240,400 SH   SOLE   240,400 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   117,521,005 380,450 SH   SOLE   380,450 0 0
BLACK KNIGHT INC COM 09215C105   20,562,750 333,000 SH   SOLE   333,000 0 0
CARMAX INC COM 143130102   51,178,045 840,500 SH   SOLE   840,500 0 0
CHARTER COMMUNICATIONS INC CL A 16119P108   1,695,500 5,000 SH   SOLE   5,000 0 0
COMCAST CORP NEW CL A 20030N101   2,259,062 64,600 SH   SOLE   64,600 0 0
COSTAR GROUP INC COM 22160N109   85,456,224 1,105,800 SH   SOLE   1,105,800 0 0
DANAHER CORPORATION COM 235851102   63,889,248 240,710 SH   SOLE   240,710 0 0
DIAGEO PLC SPON ADR NEW 25243Q205   2,084,823 11,700 SH   SOLE   11,700 0 0
DOLBY LABORATORIES INC COM CL A 25659T107   5,607,930 79,500 SH   SOLE   79,500 0 0
META PLATFORMS INC CL A 30303M102   59,303,552 492,800 SH   SOLE   492,800 0 0
FIDELITY NATL INFORMATION SV COM 31620M106   45,859,815 675,900 SH   SOLE   675,900 0 0
FIRST REP BK SAN FRANCISCO C COM 33616C100   14,315,981 117,450 SH   SOLE   117,450 0 0
FORTIVE CORP COM 34959J108   2,621,400 40,800 SH   SOLE   40,800 0 0
GARTNER INC COM 366651107   47,022,625 139,890 SH   SOLE   139,890 0 0
GUIDEWIRE SOFTWARE INC COM 40171V100   13,544,240 216,500 SH   SOLE   216,500 0 0
HEICO CORP NEW CL A 422806208   21,992,475 183,500 SH   SOLE   183,500 0 0
HONEYWELL INTL INC COM 438516106   2,464,450 11,500 SH   SOLE   11,500 0 0
IDEX CORP COM 45167R104   15,320,943 67,100 SH   SOLE   67,100 0 0
INGERSOLL RAND INC COM 45687V106   4,180,000 80,000 SH   SOLE   80,000 0 0
CORECARD CORPORATION COM 45816D100   16,881,485 582,723 SH   SOLE   582,723 0 0
JPMORGAN CHASE & CO COM 46625H100   2,682,000 20,000 SH   SOLE   20,000 0 0
LKQ CORP COM 501889208   22,095,717 413,700 SH   SOLE   413,700 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409   62,084,302 263,650 SH   SOLE   263,650 0 0
LIBERTY BROADBAND CORP COM SER A 530307107   14,411,500 190,000 SH   SOLE   190,000 0 0
LIBERTY BROADBAND CORP COM SER C 530307305   57,179,619 749,700 SH   SOLE   749,700 0 0
LIBERTY MEDIA CORP DEL COM A SIRIUSXM 531229409   12,186,100 310,000 SH   SOLE   310,000 0 0
LIBERTY MEDIA CORP DEL COM C SIRIUSXM 531229607   63,281,036 1,617,200 SH   SOLE   1,617,200 0 0
MARKEL CORP COM 570535104   49,260,951 37,390 SH   SOLE   37,390 0 0
MARKETAXESS HLDGS INC COM 57060D108   5,020,020 18,000 SH   SOLE   18,000 0 0
MARTIN MARIETTA MATLS INC COM 573284106   22,322,919 66,050 SH   SOLE   66,050 0 0
MASTERCARD INCORPORATED CL A 57636Q104   77,908,907 224,050 SH   SOLE   224,050 0 0
MICROSOFT CORP COM 594918104   14,509,110 60,500 SH   SOLE   60,500 0 0
ORACLE CORP COM 68389X105   35,597,770 435,500 SH   SOLE   435,500 0 0
PERIMETER SOLUTIONS SA COM L7579L106   18,280,000 2,000,000 SH   SOLE   2,000,000 0 0
QURATE RETAIL INC COM SER A 74915M100   489,000 300,000 SH   SOLE   300,000 0 0
RWT HLDGS INC NOTE 5.750%10/0 749772AD1   2,970,625 3,500,000 PRN   SOLE   3,500,000 0 0
REDWOOD TR INC NOTE 4.750% 8/1 758075AC9   5,768,160 5,856,000 PRN   SOLE   5,856,000 0 0
REDWOOD TR INC NOTE 5.625% 7/1 758075AD7   8,235,000 9,000,000 PRN   SOLE   9,000,000 0 0
REDWOOD TR INC COM 758075402   848,279 125,485 SH   SOLE   125,485 0 0
ROPER TECHNOLOGIES INC COM 776696106   39,881,907 92,300 SH   SOLE   92,300 0 0
S&P GLOBAL INC COM 78409V104   24,743,693 73,875 SH   SOLE   73,875 0 0
SALESFORCE COM INC COM 79466L302   18,562,600 140,000 SH   SOLE   120,000 0 0
SCHWAB CHARLES CORP COM 808513105   60,482,229 726,426 SH   SOLE   726,426 0 0
TEXAS INSTRS INC COM 882508104   29,938,029 181,201 SH   SOLE   181,201 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102   37,424,892 67,960 SH   SOLE   67,960 0 0
VISA INC COM CL A 92826C839   80,112,256 385,600 SH   SOLE   385,600 0 0
VULCAN MATLS CO COM 929160109   58,416,696 333,600 SH   SOLE   333,600 0 0