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
AUTOMATIC DATA PROCESSING IN COM 053015103 410 4,000 SH   SOLE   4,000 0 0
AMERICAN EXPRESS CO COM 025816109 2,542 32,135 SH   SOLE   20,186 0 11,949
BUILD A BEAR WORKSHOP COM 120076104 2,412 272,490 SH   SOLE   39,700 0 232,790
BERKSHIRE HATHAWAY CL A COM 084670108 3,998 16 SH   SOLE   13 0 3
BERKSHIRE HATHAWAY CL B COM 084670702 38,173 229,017 SH   SOLE   85,200 0 143,817
CNA FINL CORP COM 126117100 12,641 286,179 SH   SOLE   100,900 0 185,279
FIVE BELOW INC COM 33829M101 20,387 470,729 SH   SOLE   79,620 0 391,109
FOSSIL GROUP INC COM 34988V106 10,886 623,821 SH   SOLE   132,265 0 491,556
GOLDMAN SACHS GROUP INC COM 38141G104 25,006 108,854 SH   SOLE   25,637 0 83,217
INTERNATIONAL BUSINESS MACHS COM 459200101 313 1,800 SH   SOLE   0 0 1,800
LEUCADIA NATL CORP COM 527288104 21,301 819,253 SH   SOLE   107,250 0 712,003
M D C HLDGS INC COM 552676108 9,711 323,175 SH   SOLE   45,390 0 277,785
MARKEL CORP COM 570535104 651 667 SH   SOLE   667 0 0
STARBUCKS CORP COM 855244109 30,935 529,806 SH   SOLE   281,124 0 248,682
STAPLES INC COM 855030102 6,936 790,923 SH   SOLE   157,100 0 633,823
US BANCORP DEL COM 902973304 2,201 42,738 SH   SOLE   25,162 0 17,576
WELLS FARGO & CO COM 949746101 3,820 68,631 SH   SOLE   9,823 0 58,808