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
Expires: July 31, 2015
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
ALIGN TECHNOLOGY INC COM 016255101 8,776,960 46,358 SH DFND 0 0 0
ALPHABET INC CAP STK CL A 02079K305 66,899,904 379,617 SH DFND 0 0 0
ALPHABET INC C CAP STK CL C 02079K107 115,962,859 653,717 SH DFND 0 0 0
AMAZON COM INC COM 023135106 257,564 1,174 SH DFND 0 0 0
AMETEK INC COM 031100100 180,298,410 996,344 SH DFND 0 0 0
ANALOG DEVICES INC COM 032654105 41,917,940 176,111 SH DFND 0 0 0
APPLE INC COM 037833100 3,482,966 16,976 SH DFND 0 0 0
ARISTA NETWORKS INC COM 040413205 49,370,816 482,561 SH SOLE 0 0 0
BANK AMERICA CORP COM 060505104 47,514,911 1,004,119 SH DFND 0 0 0
BANK OZK LITTLE ROCK ARK COM 06417N103 59,248,352 1,258,996 SH DFND 0 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 8,016,800 11 SH DFND 0 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 248,609,314 511,784 SH DFND 0 0 0
BIRKENSTOCK HLDG PLC COM M2029K104 1,347,139 27,392 SH SOLE 0 0 0
BOOKING HOLDINGS INC. COM 09857L108 123,252,920 21,290 SH DFND 0 0 0
BROWN & BROWN COM 115236101 35,659,894 321,637 SH DFND 0 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 10,189,021 87,317 SH SOLE 0 0 0
CAPITAL ONE FC COM 14040H105 1,973,136 9,274 SH SOLE 0 0 0
CARMAX INC COM 143130102 111,295,055 1,655,930 SH DFND 0 0 0
COPART INC COM 217204106 1,348,640 27,484 SH SOLE 0 0 0
COSTCO WHSL CORP NEW COM 22160K105 237,586 240 SH SOLE 0 0 0
CREDIT ACCEP CORP MICH COM 225310101 15,538,124 30,501 SH SOLE 0 0 0
DISNEY WALT CO COM 254687106 32,301,505 260,475 SH DFND 0 0 0
DREAM FINDERS HOMES COM 26154D100 809,236 32,202 SH SOLE 0 0 0
FERGUSON ENTERPRISES INC COM 31488V107 7,769,102 35,679 SH SOLE 0 0 0
FISERV INC COM 337738108 111,820,643 648,574 SH DFND 0 0 0
FIVE BELOW INC COM 33829M101 82,101,758 625,871 SH DFND 0 0 0
FLOOR & DECOR HLDGS INC CL A 339750101 17,913,723 235,831 SH DFND 0 0 0
HEICO CORP NEW CL A 422806208 193,931,055 749,492 SH DFND 0 0 0
INSTALLED BLDG PRODS INC COM 45780R101 92,767,247 514,459 SH DFND 0 0 0
INTUITIVE SURGICAL INC COM NEW 46120E602 220,081 405 SH SOLE 0 0 0
ISHARES TR US HOME CONS ETF 464288752 1,073,132 11,518 SH DFND 0 0 0
JPMORGAN CHASE & CO COM 46625H100 14,770,915 50,950 SH DFND 0 0 0
KEYSIGHT TECHNOLOGIES INC COM 49338L103 54,661,238 333,585 SH DFND 0 0 0
KINSALE CAPITAL GROUP IN COM 49714P108 86,692,137 179,153 SH DFND 0 0 0
LITTELFUSE INC COM 537008104 18,390,524 81,112 SH DFND 0 0 0
LULULEMON ATHLETICA INC COM 550021109 34,206,056 143,977 SH DFND 0 0 0
M & T BK CORP COM 55261F104 1,462,685 7,540 SH DFND 0 0 0
MARKEL CORP COMMON STOCK 570535104 87,276,643 43,696 SH DFND 0 0 0
MASTERCARD INCORPORATED CL A 57636Q104 15,644,972 27,841 SH DFND 0 0 0
MEDPACE HOLDINGS INC COM 58506Q109 82,154,424 261,755 SH DFND 0 0 0
META PLATFORMS INC CL A 30303M102 235,378,377 318,902 SH DFND 0 0 0
MICROSOFT CORP COM 594918104 1,145,535 2,303 SH DFND 0 0 0
NOVO-NORDISK A S ADR 670100205 855,848 12,400 SH SOLE 0 0 0
NVR INC COM 62944T105 103,679,895 14,038 SH DFND 0 0 0
OLD DOMINION FREIGHT LINE IN COM 679580100 852,887 5,255 SH SOLE 0 0 0
PROGRESSIVE CORP COM 743315103 138,865,138 520,367 SH DFND 0 0 0
SCHWAB CHARLES CORP COM 808513105 143,018,244 1,567,495 SH DFND 0 0 0
SITEONE LANDSCAPE SUPPLY INC COM 82982L103 453,888 3,753 SH SOLE 0 0 0
SPDR GOLD TR GOLD SHS 78463V107 1,181,521 3,876 SH SOLE 0 0 0
SPDR S&P 500 ETF ETF 78462F103 1,528,561 2,474 SH SOLE 0 0 0
STARBUCKS CORP COM 855244109 68,745,224 750,248 SH DFND 0 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 2,615,960 11,550 SH DFND 0 0 0
TWFG INC COM CL A 87318A101 6,224,680 177,848 SH DFND 0 0 0
VISA INC COM CL A 92826C839 142,480,500 401,297 SH DFND 0 0 0
YUM CHINA HLDGS INC COM 98850P109 1,611,170 36,036 SH SOLE 0 0 0