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
3M CO COM 88579Y101 13,678 77,000 SH   SOLE   77,000 0 0
3M CO COM 88579Y101 31,298 176,200 SH   DFND 1 176,200 0 0
ACCENTURE PLC IRELAN SHS CLASS A G1151C101 27,816 67,100 SH   SOLE   67,100 0 0
ACCENTURE PLC IRELAN SHS CLASS A G1151C101 38,263 92,300 SH   DFND 1 92,300 0 0
ACTIVISION BLIZZARD COM 00507V109 120 1,800 SH   SOLE   1,800 0 0
ACTIVISION BLIZZARD COM 00507V109 30,058 451,800 SH   DFND 1 451,800 0 0
ALBEMARLE CORP COM 012653101 17,767 76,000 SH   DFND 1 76,000 0 0
ALLEGHANY CORP MD COM 017175100 2,889 4,328 SH   SOLE   4,328 0 0
ALLSTATE CORP COM 020002101 4,682 39,800 SH   DFND 1 39,800 0 0
ALPHABET INC CAP STK CL A 02079K305 9,560 3,300 SH   SOLE   3,300 0 0
ALPHABET INC CAP STK CL A 02079K305 28,826 9,950 SH   DFND 1 9,950 0 0
ALPHABET INC CAP STK CL C 02079K107 133,826 46,249 SH   SOLE   46,249 0 0
ALPHABET INC CAP STK CL C 02079K107 264,023 91,244 SH   DFND 1 91,244 0 0
AMAZON COM INC COM 023135106 111,367 33,400 SH   SOLE   33,400 0 0
AMAZON COM INC COM 023135106 217,126 65,118 SH   DFND 1 65,118 0 0
AMERICAN EXPRESS CO COM 025816109 1,636 10,000 SH   SOLE   10,000 0 0
AMERICAN EXPRESS CO COM 025816109 77,587 474,250 SH   DFND 1 474,250 0 0
AMERICAN TOWER CORP COM 03027X100 293 1,000 SH   SOLE   1,000 0 0
AMERICAN TOWER CORP COM 03027X100 14,891 50,910 SH   DFND 1 50,910 0 0
ANALOG DEVICES INC COM 032654105 43,532 247,665 SH   SOLE   247,665 0 0
ANALOG DEVICES INC COM 032654105 143,254 815,006 SH   DFND 1 815,006 0 0
AON PLC SHS CL A G0403H108 17,463 58,100 SH   DFND 1 58,100 0 0
APOLLO GLOBAL MGMT I COM CL A 03768E105 1,630 22,500 SH   SOLE   22,500 0 0
APOLLO GLOBAL MGMT I COM CL A 03768E105 71,706 990,000 SH   DFND 1 990,000 0 0
APPLE INC COM 037833100 8,559 48,200 SH   SOLE   48,200 0 0
APPLE INC COM 037833100 204,266 1,150,340 SH   DFND 1 1,150,340 0 0
ARCHER DANIELS MIDLA COM 039483102 40,148 594,000 SH   SOLE   594,000 0 0
ARCHER DANIELS MIDLA COM 039483102 58,756 869,300 SH   DFND 1 869,300 0 0
BALL CORP COM 058498106 4,428 46,000 SH   DFND 1 46,000 0 0
BANK NEW YORK MELLON COM 064058100 20,778 357,750 SH   DFND 1 357,750 0 0
BERKLEY W R CORP COM 084423102 2,225 27,000 SH   DFND 1 27,000 0 0
BERKSHIRE HATHAWAY I CL A 084670108 315,463 700 SH   SOLE   700 0 0
BERKSHIRE HATHAWAY I CL A 084670108 186,574 414 SH   DFND 1 414 0 0
BERKSHIRE HATHAWAY I CL B NEW 084670702 330,234 1,104,460 SH   SOLE   1,104,460 0 0
BERKSHIRE HATHAWAY I CL B NEW 084670702 127,826 427,511 SH   DFND 1 427,511 0 0
BLACKROCK INC COM 09247X101 10,987 12,000 SH   SOLE   12,000 0 0
BLACKROCK INC COM 09247X101 190,620 208,200 SH   DFND 1 208,200 0 0
BLACKSTONE INC COM 09260D107 4,464 34,500 SH   SOLE   34,500 0 0
BLACKSTONE INC COM 09260D107 154,556 1,194,500 SH   DFND 1 1,194,500 0 0
BROOKFIELD ASSET MGM CL A EXCH LT VTG G16169107 1,545 24,674 SH   SOLE   24,674 0 0
BROOKFIELD ASSET MGM CL A EXCH LT VTG G16169107 2,219 35,427 SH   DFND 1 35,427 0 0
BROOKFIELD ASSET MGM CL A LTD VT SH 112585104 297,633 4,929,329 SH   SOLE   4,929,329 0 0
BROOKFIELD ASSET MGM CL A LTD VT SH 112585104 228,624 3,786,412 SH   DFND 1 3,786,412 0 0
BROWN FORMAN CORP CL A 115637100 33,393 492,600 SH   SOLE   492,600 0 0
BROWN FORMAN CORP CL A 115637100 23,754 350,400 SH   DFND 1 350,400 0 0
BROWN FORMAN CORP CL B 115637209 16,521 226,750 SH   SOLE   226,750 0 0
BROWN FORMAN CORP CL B 115637209 18,028 247,437 SH   DFND 1 247,437 0 0
CABLE ONE INC COM 12685J105 9,170 5,200 SH   DFND 1 5,200 0 0
CARLYLE GROUP INC COM 14316J108 2,443 44,500 SH   SOLE   44,500 0 0
CARLYLE GROUP INC COM 14316J108 65,468 1,192,500 SH   DFND 1 1,192,500 0 0
CARRIER GLOBAL CORPO COM 14448C104 2,962 54,600 SH   SOLE   54,600 0 0
CARRIER GLOBAL CORPO COM 14448C104 9,785 180,400 SH   DFND 1 180,400 0 0
CATERPILLAR INC COM 149123101 39,177 189,500 SH   SOLE   189,500 0 0
CATERPILLAR INC COM 149123101 20,261 98,000 SH   DFND 1 98,000 0 0
CELANESE CORP DEL COM 150870103 807 4,800 SH   DFND 1 4,800 0 0
CISCO SYS INC COM 17275R102 9,379 148,000 SH   SOLE   148,000 0 0
CISCO SYS INC COM 17275R102 12,294 194,000 SH   DFND 1 194,000 0 0
COLFAX CORP COM 194014106 49,881 1,085,070 SH   SOLE   1,085,070 0 0
COLFAX CORP COM 194014106 2,299 50,000 SH   DFND 1 50,000 0 0
COMCAST CORP NEW CL A 20030N101 5,184 103,000 SH   SOLE   103,000 0 0
COMCAST CORP NEW CL A 20030N101 21,606 429,280 SH   DFND 1 429,280 0 0
COSTAR GROUP INC COM 22160N109 245 3,100 SH   DFND 1 3,100 0 0
COSTCO WHSL CORP NEW COM 22160K105 21,090 37,150 SH   SOLE   37,150 0 0
COSTCO WHSL CORP NEW COM 22160K105 1,135 2,000 SH   DFND 1 2,000 0 0
CROWN HLDGS INC COM 228368106 12,832 116,000 SH   DFND 1 116,000 0 0
CVS HEALTH CORP COM 126650100 206 2,000 SH   SOLE   2,000 0 0
CVS HEALTH CORP COM 126650100 34,043 330,000 SH   DFND 1 330,000 0 0
DEERE & CO COM 244199105 259,156 755,800 SH   DFND 1 755,800 0 0
DIAGEO PLC SPON ADR NEW 25243Q205 189,424 860,472 SH   SOLE   860,472 0 0
DIAGEO PLC SPON ADR NEW 25243Q205 107,810 489,736 SH   DFND 1 489,736 0 0
DISNEY WALT CO COM 254687106 132,297 854,133 SH   SOLE   854,133 0 0
DISNEY WALT CO COM 254687106 158,922 1,026,032 SH   DFND 1 1,026,032 0 0
DOLLAR GEN CORP NEW COM 256677105 16,449 69,750 SH   DFND 1 69,750 0 0
EASTMAN CHEM CO COM 277432100 2,110 17,450 SH   DFND 1 17,450 0 0
ECOLAB INC COM 278865100 5,396 23,000 SH   SOLE   23,000 0 0
ECOLAB INC COM 278865100 67,163 286,300 SH   DFND 1 286,300 0 0
EQUIFAX INC COM 294429105 35,750 122,100 SH   DFND 1 122,100 0 0
FACEBOOK INC CL A 30303M102 6,259 18,610 SH   SOLE   18,610 0 0
FACEBOOK INC CL A 30303M102 43,454 129,193 SH   DFND 1 129,193 0 0
FACTSET RESH SYS INC COM 303075105 11,178 23,000 SH   SOLE   23,000 0 0
FACTSET RESH SYS INC COM 303075105 45,549 93,720 SH   DFND 1 93,720 0 0
FEDEX CORP COM 31428X106 4,526 17,500 SH   DFND 1 17,500 0 0
GENERAL DYNAMICS COR COM 369550108 9,173 44,000 SH   SOLE   44,000 0 0
GENERAL DYNAMICS COR COM 369550108 71,505 343,000 SH   DFND 1 343,000 0 0
GOLDMAN SACHS GROUP COM 38141G104 18,823 49,204 SH   SOLE   49,204 0 0
GOLDMAN SACHS GROUP COM 38141G104 112,721 294,656 SH   DFND 1 294,656 0 0
GRAHAM HLDGS CO COM CL B 384637104 3,275 5,200 SH   DFND 1 5,200 0 0
HEALTHCARE SVCS GROU COM 421906108 7,454 419,000 SH   SOLE   419,000 0 0
HEALTHCARE SVCS GROU COM 421906108 12,622 709,500 SH   DFND 1 709,500 0 0
HEICO CORP NEW CL A 422806208 990 7,702 SH   SOLE   7,702 0 0
HEICO CORP NEW CL A 422806208 43,111 335,442 SH   DFND 1 335,442 0 0
HEXCEL CORP NEW COM 428291108 1,968 38,000 SH   SOLE   38,000 0 0
HEXCEL CORP NEW COM 428291108 7,822 151,000 SH   DFND 1 151,000 0 0
HOME DEPOT INC COM 437076102 173,100 417,098 SH   SOLE   417,098 0 0
HOME DEPOT INC COM 437076102 208,709 502,902 SH   DFND 1 502,902 0 0
ILLINOIS TOOL WKS IN COM 452308109 20,978 85,000 SH   SOLE   85,000 0 0
ILLINOIS TOOL WKS IN COM 452308109 59,849 242,500 SH   DFND 1 242,500 0 0
INTERCONTINENTAL EXC COM 45866F104 700 5,120 SH   DFND 1 5,120 0 0
INTERNATIONAL FLAVOR COM 459506101 3,465 23,000 SH   DFND 1 23,000 0 0
INTUIT COM 461202103 1,750 2,720 SH   DFND 1 2,720 0 0
INVESTORS TITLE CO N COM 461804106 42,052 213,300 SH   DFND 1 213,300 0 0
JOHNSON & JOHNSON COM 478160104 19,536 114,200 SH   SOLE   114,200 0 0
JOHNSON & JOHNSON COM 478160104 84,953 496,600 SH   DFND 1 496,600 0 0
JPMORGAN CHASE & CO COM 46625H100 34,291 216,550 SH   DFND 1 216,550 0 0
KKR & CO INC COM 48251W104 4,619 62,000 SH   SOLE   62,000 0 0
KKR & CO INC COM 48251W104 100,970 1,355,300 SH   DFND 1 1,355,300 0 0
LAMAR ADVERTISING CO CL A 512816109 1,031 8,500 SH   DFND 1 8,500 0 0
LIBERTY BROADBAND CO COM SER A 530307107 3,500 21,750 SH   SOLE   21,750 0 0
LIBERTY BROADBAND CO COM SER A 530307107 29,525 183,500 SH   DFND 1 183,500 0 0
LIBERTY BROADBAND CO COM SER C 530307305 6,581 40,853 SH   SOLE   40,853 0 0
LIBERTY BROADBAND CO COM SER C 530307305 21,146 131,260 SH   DFND 1 131,260 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 83 3,000 SH   SOLE   3,000 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 4,882 176,000 SH   DFND 1 176,000 0 0
LIBERTY MEDIA CORP D COM A SIRIUSXM 531229409 2,644 52,000 SH   SOLE   52,000 0 0
LIBERTY MEDIA CORP D COM A SIRIUSXM 531229409 19,018 374,000 SH   DFND 1 374,000 0 0
LIBERTY MEDIA CORP D COM C SIRIUSXM 531229607 6,814 134,000 SH   SOLE   134,000 0 0
LIBERTY MEDIA CORP D COM C SIRIUSXM 531229607 19,730 388,000 SH   DFND 1 388,000 0 0
LINDE PLC SHS G5494J103 2,044 5,900 SH   SOLE   5,900 0 0
LINDE PLC SHS G5494J103 30,659 88,500 SH   DFND 1 88,500 0 0
LOCKHEED MARTIN CORP COM 539830109 3,239 9,113 SH   DFND 1 9,113 0 0
LOWES COS INC COM 548661107 66,429 257,000 SH   SOLE   257,000 0 0
LOWES COS INC COM 548661107 85,810 331,980 SH   DFND 1 331,980 0 0
MACOM TECH SOLUTIONS COM 55405Y100 4,620 59,000 SH   DFND 1 59,000 0 0
MARSH & MCLENNAN COS COM 571748102 3,042 17,500 SH   SOLE   17,500 0 0
MARSH & MCLENNAN COS COM 571748102 102,901 592,000 SH   DFND 1 592,000 0 0
MARVELL TECHNOLOGY I COM 573874104 6,037 69,000 SH   DFND 1 69,000 0 0
MASTERCARD INCORPORA CL A 57636Q104 12,936 36,000 SH   SOLE   36,000 0 0
MASTERCARD INCORPORA CL A 57636Q104 61,638 171,540 SH   DFND 1 171,540 0 0
MICROCHIP TECHNOLOGY COM 595017104 9,751 112,000 SH   DFND 1 112,000 0 0
MICROSOFT CORP COM 594918104 28,587 85,000 SH   SOLE   85,000 0 0
MICROSOFT CORP COM 594918104 132,840 394,980 SH   DFND 1 394,980 0 0
MOHAWK INDS INC COM 608190104 911 5,000 SH   SOLE   5,000 0 0
MOHAWK INDS INC COM 608190104 39,351 216,000 SH   DFND 1 216,000 0 0
MOODYS CORP COM 615369105 40,620 104,000 SH   SOLE   104,000 0 0
MOODYS CORP COM 615369105 41,886 107,240 SH   DFND 1 107,240 0 0
MSCI INC COM 55354G100 613 1,000 SH   SOLE   1,000 0 0
MSCI INC COM 55354G100 83,326 136,000 SH   DFND 1 136,000 0 0
NIKE INC CL B 654106103 27,001 162,000 SH   SOLE   162,000 0 0
NIKE INC CL B 654106103 34,001 204,000 SH   DFND 1 204,000 0 0
NORFOLK SOUTHN CORP COM 655844108 21,733 73,000 SH   SOLE   73,000 0 0
NORFOLK SOUTHN CORP COM 655844108 46,592 156,500 SH   DFND 1 156,500 0 0
NOVO-NORDISK A S ADR 670100205 120,400 1,075,000 SH   SOLE   1,075,000 0 0
NVR INC COM 62944T105 591 100 SH   SOLE   100 0 0
NVR INC COM 62944T105 55,774 9,439 SH   DFND 1 9,439 0 0
O-I GLASS INC COM 67098H104 2,887 240,000 SH   DFND 1 240,000 0 0
OTIS WORLDWIDE CORP COM 68902V107 2,377 27,300 SH   SOLE   27,300 0 0
OTIS WORLDWIDE CORP COM 68902V107 7,603 87,320 SH   DFND 1 87,320 0 0
PAYCHEX INC COM 704326107 9,555 70,000 SH   SOLE   70,000 0 0
PAYCHEX INC COM 704326107 10,920 80,000 SH   DFND 1 80,000 0 0
PEPSICO INC COM 713448108 16,713 96,210 SH   DFND 1 96,210 0 0
PHILIP MORRIS INTL I COM 718172109 10,878 114,500 SH   DFND 1 114,500 0 0
PRICE T ROWE GROUP I COM 74144T108 6,292 32,000 SH   SOLE   32,000 0 0
PRICE T ROWE GROUP I COM 74144T108 55,452 282,000 SH   DFND 1 282,000 0 0
PROGRESSIVE CORP COM 743315103 6,159 60,000 SH   SOLE   60,000 0 0
PROGRESSIVE CORP COM 743315103 67,852 661,000 SH   DFND 1 661,000 0 0
RAYTHEON TECHNOLOGIE COM 75513E101 4,699 54,600 SH   SOLE   54,600 0 0
RAYTHEON TECHNOLOGIE COM 75513E101 14,579 169,400 SH   DFND 1 169,400 0 0
REGENERON PHARMACEUT COM 75886F107 50,080 79,300 SH   DFND 1 79,300 0 0
RLI CORP COM 749607107 42,262 377,000 SH   SOLE   377,000 0 0
RLI CORP COM 749607107 91,952 820,272 SH   DFND 1 820,272 0 0
ROCKWELL AUTOMATION COM 773903109 2,756 7,900 SH   SOLE   7,900 0 0
ROCKWELL AUTOMATION COM 773903109 49,886 143,000 SH   DFND 1 143,000 0 0
ROLLINS INC COM 775711104 1,881 54,975 SH   SOLE   54,975 0 0
ROLLINS INC COM 775711104 40,652 1,188,300 SH   DFND 1 1,188,300 0 0
S&P GLOBAL INC COM 78409V104 472 1,000 SH   SOLE   1,000 0 0
S&P GLOBAL INC COM 78409V104 69,629 147,540 SH   DFND 1 147,540 0 0
SCHWAB CHARLES CORP COM 808513105 10,344 123,000 SH   SOLE   123,000 0 0
SCHWAB CHARLES CORP COM 808513105 81,770 972,300 SH   DFND 1 972,300 0 0
SEI INVTS CO COM 784117103 3,595 59,000 SH   SOLE   59,000 0 0
SEI INVTS CO COM 784117103 22,682 372,200 SH   DFND 1 372,200 0 0
SHAKE SHACK INC CL A 819047101 216 3,000 SH   SOLE   3,000 0 0
SHAKE SHACK INC CL A 819047101 1,992 27,600 SH   DFND 1 27,600 0 0
SHERWIN WILLIAMS CO COM 824348106 33,164 94,172 SH   DFND 1 94,172 0 0
SPOTIFY TECHNOLOGY S SHS L8681T102 679 2,900 SH   DFND 1 2,900 0 0
STARBUCKS CORP COM 855244109 4,737 40,500 SH   SOLE   40,500 0 0
STARBUCKS CORP COM 855244109 57,060 487,818 SH   DFND 1 487,818 0 0
STERICYCLE INC COM 858912108 1,491 25,000 SH   SOLE   25,000 0 0
STERICYCLE INC COM 858912108 33,917 568,700 SH   DFND 1 568,700 0 0
TEXAS INSTRS INC COM 882508104 33,171 176,000 SH   SOLE   176,000 0 0
TEXAS INSTRS INC COM 882508104 103,282 548,000 SH   DFND 1 548,000 0 0
TEXAS PACIFIC LAND C COM 88262P102 9,866 7,900 SH   DFND 1 7,900 0 0
THERMO FISHER SCIENT COM 883556102 200 300 SH   DFND 1 300 0 0
TRANSUNION COM 89400J107 356 3,000 SH   SOLE   3,000 0 0
TRANSUNION COM 89400J107 10,850 91,500 SH   DFND 1 91,500 0 0
TRUPANION INC COM 898202106 660 5,000 SH   SOLE   5,000 0 0
TRUPANION INC COM 898202106 16,953 128,400 SH   DFND 1 128,400 0 0
TYSON FOODS INC CL A 902494103 436 5,000 SH   SOLE   5,000 0 0
TYSON FOODS INC CL A 902494103 32,380 371,500 SH   DFND 1 371,500 0 0
UNION PAC CORP COM 907818108 2,796 11,100 SH   SOLE   11,100 0 0
UNION PAC CORP COM 907818108 18,814 74,678 SH   DFND 1 74,678 0 0
VERISK ANALYTICS INC COM 92345Y106 229 1,000 SH   SOLE   1,000 0 0
VERISK ANALYTICS INC COM 92345Y106 16,697 73,000 SH   DFND 1 73,000 0 0
VISA INC COM CL A 92826C839 40,330 186,100 SH   SOLE   186,100 0 0
VISA INC COM CL A 92826C839 167,287 771,940 SH   DFND 1 771,940 0 0
WATSCO INC COM 942622200 8,479 27,100 SH   SOLE   27,100 0 0
WATSCO INC COM 942622200 122,539 391,650 SH   DFND 1 391,650 0 0
WELLS FARGO CO NEW COM 949746101 1,535 32,000 SH   SOLE   32,000 0 0
WELLS FARGO CO NEW COM 949746101 7,842 163,450 SH   DFND 1 163,450 0 0
WHIRLPOOL CORP COM 963320106 1,227 5,230 SH   SOLE   5,230 0 0
WHIRLPOOL CORP COM 963320106 64,958 276,819 SH   DFND 1 276,819 0 0