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
AON PLC SHS CL A G0403H108 77,441 366,550 SH   SOLE   366,550 0 0
AXALTA COATING SYS LTD COM G0750C108 20,941 733,500 SH   SOLE   733,500 0 0
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 26,905 103,000 SH   SOLE   103,000 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 49,807 2,106,000 SH   SOLE   2,106,000 0 0
LINDE PLC SHS G5494J103 26,087 99,000 SH   SOLE   99,000 0 0
LIBERTY LATIN AMERICA LTD COM CL C G9001E128 20,477 1,846,395 SH   SOLE   1,846,395 0 0
ACI WORLDWIDE INC COM 004498101 27,731 721,600 SH   SOLE   721,600 0 0
ALPHABET INC CAP STK CL C 02079K107 112,593 64,270 SH   SOLE   64,270 0 0
AMAZON COM INC COM 023135106 42,340 13,000 SH   SOLE   13,000 0 0
ANALOG DEVICES INC COM 032654105 37,302 252,500 SH   SOLE   252,500 0 0
APPLE INC COM 037833100 74 560 SH   SOLE   0 0 560
AUTOZONE INC COM 053332102 2,075 1,750 SH   SOLE   1,750 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 194,081 558 SH   SOLE   153 0 405
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 145,271 626,521 SH   SOLE   621,751 0 4,770
BLACK KNIGHT INC COM 09215C105 34,722 393,000 SH   SOLE   393,000 0 0
BOX INC CL A 10316T104 18,934 1,049,000 SH   SOLE   1,049,000 0 0
CARMAX INC COM 143130102 68,498 725,156 SH   SOLE   725,156 0 0
CHARTER COMMUNICATIONS INC N CL A 16119P108 3,308 5,000 SH   SOLE   5,000 0 0
COMCAST CORP NEW CL A 20030N101 31,178 595,000 SH   SOLE   595,000 0 0
COSTAR GROUP INC COM 22160N109 73,896 79,950 SH   SOLE   79,950 0 0
DANAHER CORPORATION COM 235851102 37,764 170,000 SH   SOLE   170,000 0 0
DIAGEO PLC SPON ADR NEW 25243Q205 22,964 144,600 SH   SOLE   144,600 0 0
DOLBY LABORATORIES INC COM CL A 25659T107 4,857 50,000 SH   SOLE   50,000 0 0
DUPONT DE NEMOURS INC COM 26614N102 13 185 SH   SOLE   0 0 185
FACEBOOK INC CL A 30303M102 69,355 253,900 SH   SOLE   253,900 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 45,267 320,000 SH   SOLE   320,000 0 0
FIRST HAWAIIAN INC COM 32051X108 4,716 200,000 SH   SOLE   200,000 0 0
FIRST REP BK SAN FRANCISCO C COM 33616C100 14,553 99,050 SH   SOLE   99,050 0 0
FORTIVE CORP COM 34959J108 1,771 25,000 SH   SOLE   25,000 0 0
GUIDEWIRE SOFTWARE INC COM 40171V100 24,240 188,300 SH   SOLE   188,300 0 0
HEICO CORP NEW CL A 422806208 20,544 175,500 SH   SOLE   175,500 0 0
HONEYWELL INTL INC COM 438516106 2,340 11,000 SH   SOLE   11,000 0 0
IDEX CORP COM 45167R104 13,884 69,700 SH   SOLE   69,700 0 0
INGERSOLL RAND INC COM 45687V106 6,834 150,000 SH   SOLE   150,000 0 0
INTELLIGENT SYS CORP NEW COM 45816D100 30,083 750,000 SH   SOLE   750,000 0 0
ISHARES TR RUS 1000 ETF 464287622 349 1,648 SH   SOLE   0 0 1,648
JPMORGAN CHASE & CO COM 46625H100 27,955 220,000 SH   SOLE   220,000 0 0
LKQ CORP COM 501889208 22,448 637,000 SH   SOLE   637,000 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 92,900 456,400 SH   SOLE   456,400 0 0
LIBERTY BROADBAND CORP COM SER A 530307107 21,076 133,750 SH   SOLE   133,750 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 96,229 607,620 SH   SOLE   607,620 0 0
LIBERTY MEDIA CORP DEL COM A SIRIUSXM 531229409 18,140 420,000 SH   SOLE   420,000 0 0
LIBERTY MEDIA CORP DEL COM C SIRIUSXM 531229607 81,895 1,882,200 SH   SOLE   1,882,200 0 0
LIBERTY MEDIA CORP DEL COM A BRAVES GRP 531229706 274 11,000 SH   SOLE   11,000 0 0
LIBERTY MEDIA CORP DEL COM C BRAVES GRP 531229888 2,612 105,000 SH   SOLE   105,000 0 0
MARKEL CORP COM 570535104 58,846 56,950 SH   SOLE   56,950 0 0
MARTIN MARIETTA MATLS INC COM 573284106 20,006 70,450 SH   SOLE   70,450 0 0
MASTERCARD INCORPORATED CL A 57636Q104 86,046 241,065 SH   SOLE   241,065 0 0
MICROSOFT CORP COM 594918104 3,892 17,500 SH   SOLE   17,500 0 0
ORACLE CORP COM 68389X105 47,515 734,500 SH   SOLE   734,500 0 0
QURATE RETAIL INC COM SER A 74915M100 17,552 1,600,000 SH   SOLE   1,600,000 0 0
RWT HLDGS INC NOTE 5.750%10/0 749772AD1 3,338 3,500,000 PRN   SOLE   3,500,000 0 0
REDWOOD TR INC NOTE 4.750% 8/1 758075AC9 10,285 10,850,000 PRN   SOLE   10,850,000 0 0
REDWOOD TR INC NOTE 5.625% 7/1 758075AD7 8,558 9,000,000 PRN   SOLE   9,000,000 0 0
REDWOOD TR INC COM 758075402 4,995 568,850 SH   SOLE   568,850 0 0
S&P GLOBAL INC COM 78409V104 22,518 68,500 SH   SOLE   68,500 0 0
SALESFORCE COM INC COM 79466L302 26,704 120,000 SH   SOLE   120,000 0 0
SCHWAB CHARLES CORP COM 808513105 88,206 1,663,000 SH   SOLE   1,663,000 0 0
SUMMIT MATLS INC CL A 86614U100 34,588 1,722,500 SH   SOLE   1,722,500 0 0
TEXAS INSTRS INC COM 882508104 36,191 220,500 SH   SOLE   220,500 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 37,961 81,500 SH   SOLE   81,500 0 0
VANGUARD BD INDEX FDS INTERMED TERM 921937819 220 2,371 SH   SOLE   0 0 2,371
VANGUARD BD INDEX FDS SHORT TRM BOND 921937827 389 4,692 SH   SOLE   0 0 4,692
VANGUARD TAX-MANAGED INTL FD FTSE DEV MKT ETF 921943858 782 16,555 SH   SOLE   0 0 16,555
VANGUARD INDEX FDS TOTAL STK MKT 922908769 1,570 8,068 SH   SOLE   0 0 8,068
VISA INC COM CL A 92826C839 90,948 415,800 SH   SOLE   415,800 0 0
VULCAN MATLS CO COM 929160109 68,030 458,700 SH   SOLE   458,700 0 0