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 75,413 250,907 SH   SOLE   250,907 0 0
AXALTA COATING SYS LTD COM G0750C108 24,294 733,500 SH   SOLE   733,500 0 0
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 36,577 88,232 SH   SOLE   88,232 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 57,472 2,046,000 SH   SOLE   2,046,000 0 0
LINDE PLC SHS G5494J103 29,234 84,386 SH   SOLE   84,386 0 0
LIBERTY LATIN AMERICA LTD COM CL C G9001E128 20,162 1,768,620 SH   SOLE   1,768,620 0 0
ACI WORLDWIDE INC COM 004498101 11,649 335,700 SH   SOLE   335,700 0 0
ALPHABET INC CAP STK CL C 02079K107 170,658 58,978 SH   SOLE   58,978 0 0
AMAZON COM INC COM 023135106 48,348 14,500 SH   SOLE   14,500 0 0
ANALOG DEVICES INC COM 032654105 40,185 228,621 SH   SOLE   228,621 0 0
AUTOZONE INC COM 053332102 69,267 33,041 SH   SOLE   33,041 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 151,240 505,819 SH   SOLE   505,819 0 0
BLACK KNIGHT INC COM 09215C105 34,234 413,000 SH   SOLE   413,000 0 0
CARMAX INC COM 143130102 74,882 575,000 SH   SOLE   575,000 0 0
COMCAST CORP NEW CL A 20030N101 28,328 562,843 SH   SOLE   562,843 0 0
COSTAR GROUP INC COM 22160N109 89,256 1,129,400 SH   SOLE   1,129,400 0 0
DANAHER CORPORATION COM 235851102 51,181 155,561 SH   SOLE   155,561 0 0
DIAGEO PLC SPON ADR NEW 25243Q205 3,061 13,905 SH   SOLE   13,905 0 0
DOLBY LABORATORIES INC COM CL A 25659T107 4,761 50,000 SH   SOLE   50,000 0 0
DUN & BRADSTREET HLDGS INC COM 26484T106 37,620 1,836,000 SH   SOLE   1,836,000 0 0
META PLATFORMS INC CL A 30303M102 103,226 306,900 SH   SOLE   306,900 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 63,734 583,909 SH   SOLE   583,909 0 0
FIRST REP BK SAN FRANCISCO C COM 33616C100 20,455 99,050 SH   SOLE   99,050 0 0
FORTIVE CORP COM 34959J108 2,512 32,921 SH   SOLE   32,921 0 0
GUIDEWIRE SOFTWARE INC COM 40171V100 20,526 180,800 SH   SOLE   180,800 0 0
HEICO CORP NEW CL A 422806208 22,555 175,500 SH   SOLE   175,500 0 0
HONEYWELL INTL INC COM 438516106 2,490 11,944 SH   SOLE   11,944 0 0
IDEX CORP COM 45167R104 16,647 70,444 SH   SOLE   70,444 0 0
INGERSOLL RAND INC COM 45687V106 8,043 130,000 SH   SOLE   130,000 0 0
CORECARD CORPORATION COM 45816D100 23,862 615,000 SH   SOLE   615,000 0 0
JPMORGAN CHASE & CO COM 46625H100 14,578 92,065 SH   SOLE   92,065 0 0
LKQ CORP COM 501889208 33,737 562,000 SH   SOLE   562,000 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 90,923 289,369 SH   SOLE   289,369 0 0
LIBERTY BROADBAND CORP COM SER A 530307107 26,347 163,750 SH   SOLE   163,750 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 105,427 654,421 SH   SOLE   654,421 0 0
LIBERTY MEDIA CORP DEL COM A SIRIUSXM 531229409 21,357 420,000 SH   SOLE   420,000 0 0
LIBERTY MEDIA CORP DEL COM C SIRIUSXM 531229607 93,167 1,832,200 SH   SOLE   1,832,200 0 0
LIBERTY MEDIA CORP DEL COM A BRAVES GRP 531229706 316 11,000 SH   SOLE   11,000 0 0
LIBERTY MEDIA CORP DEL COM C BRAVES GRP 531229888 2,951 105,000 SH   SOLE   105,000 0 0
MARKEL CORP COM 570535104 69,558 56,368 SH   SOLE   56,368 0 0
MARKETAXESS HLDGS INC COM 57060D108 17,602 42,800 SH   SOLE   42,800 0 0
MARTIN MARIETTA MATLS INC COM 573284106 29,154 66,182 SH   SOLE   66,182 0 0
MASTERCARD INCORPORATED CL A 57636Q104 92,666 257,892 SH   SOLE   257,892 0 0
MICROSOFT CORP COM 594918104 6,061 18,021 SH   SOLE   18,021 0 0
ORACLE CORP COM 68389X105 31,582 362,142 SH   SOLE   362,142 0 0
PERIMETER SOLUTIONS SA COM L7579L106 27,919 2,010,000 SH   SOLE   2,010,000 0 0
QURATE RETAIL INC COM SER A 74915M100 8,360 1,100,000 SH   SOLE   1,100,000 0 0
RWT HLDGS INC NOTE 5.750%10/0 749772AD1 3,606 3,500,000 PRN   SOLE   3,500,000 0 0
REDWOOD TR INC NOTE 4.750% 8/1 758075AC9 11,190 10,850,000 PRN   SOLE   10,850,000 0 0
REDWOOD TR INC NOTE 5.625% 7/1 758075AD7 9,088 9,000,000 PRN   SOLE   9,000,000 0 0
REDWOOD TR INC COM 758075402 1,655 125,485 SH   SOLE   125,485 0 0
ROPER TECHNOLOGIES INC COM 776696106 32,602 66,284 SH   SOLE   66,284 0 0
S&P GLOBAL INC COM 78409V104 32,468 68,799 SH   SOLE   68,799 0 0
SALESFORCE COM INC COM 79466L302 30,496 120,000 SH   SOLE   120,000 0 0
SCHWAB CHARLES CORP COM 808513105 104,453 1,242,013 SH   SOLE   1,242,013 0 0
TEXAS INSTRS INC COM 882508104 35,093 186,201 SH   SOLE   186,201 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 52,273 78,342 SH   SOLE   78,342 0 0
VISA INC COM CL A 92826C839 96,245 444,121 SH   SOLE   444,121 0 0
VULCAN MATLS CO COM 929160109 70,200 338,185 SH   SOLE   338,185 0 0