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
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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
Abbott Labs COM 002824100 1,181,732 11,510 SH SOLE 11,510 0 0
AbbVie Inc COM 00287Y109 2,699,051 12,410 SH SOLE 12,410 0 0
Alphabet Inc Cl A COM 02079K305 3,338,572 11,610 SH SOLE 8,880 0 2,730
Alphabet Inc Cl C COM 02079K107 961,077,672 3,350,337 SH SOLE 3,256,419 0 93,918
Altria Group Inc COM 02209S103 10,852,779 164,461 SH SOLE 164,461 0 0
Amazon.com Inc COM 023135106 216,601 1,040 SH SOLE 1,040 0 0
American Express COM 025816109 1,961,583 6,485 SH SOLE 5,922 0 563
Apple Inc COM 037833100 1,205,756 4,751 SH SOLE 3,901 0 850
Berkshire Hathaway Inc Cl A COM 084670108 1,048,484,400 1,460 SH SOLE 1,375 0 85
Berkshire Hathaway Inc Cl B COM 084670702 532,117,577 1,110,429 SH SOLE 1,065,788 0 44,641
Brown-Forman Corp Cl A COM 115637100 44,146,665 1,647,878 SH SOLE 1,617,470 0 30,409
Brown-Forman Corp Cl B COM 115637209 17,442,308 659,694 SH SOLE 606,187 0 53,507
Caterpillar Inc COM 149123101 318,807 450 SH SOLE 450 0 0
Chevron Corp COM 166764100 511,043 2,470 SH SOLE 2,470 0 0
Coca-Cola COM 191216100 990,551 13,025 SH SOLE 13,025 0 0
Comcast Corp New Cl A COM 20030N101 64,686,661 2,253,106 SH SOLE 2,157,346 0 95,760
Costco Whsl Corp COM 22160K105 4,607,417 4,624 SH SOLE 4,499 0 125
Crane Company COM 224408104 7,973,046 46,626 SH SOLE 42,924 0 3,702
Disney Walt Productions COM 254687106 242,592 2,517 SH SOLE 2,499 0 18
Doordash Inc Cl A COM 25809K105 150,329,429 1,001,195 SH SOLE 975,516 0 25,679
Dover Corp COM 260003108 3,986,815 19,126 SH SOLE 16,176 0 2,950
Exxon Mobil Corp COM 30231G102 32,905,526 193,950 SH SOLE 192,350 0 1,600
FB Bancorp Inc COM 31425A109 687,000 50,000 SH SOLE 50,000 0 0
Fulton Finl Corp COM 360271100 995,643 48,950 SH SOLE 5,950 0 43,000
Generac Holdings Inc COM 368736104 439,493 2,250 SH SOLE 2,250 0 0
Herc Holdings Inc COM 42704l104 642,098 6,450 SH SOLE 6,450 0 0
Hormel Foods Corp COM 440452100 430,350 19,000 SH SOLE 13,000 0 6,000
J.P. Morgan Chase COM 46625H100 43,770,420 148,798 SH SOLE 145,218 0 3,580
JBT Marel Corp COM 477839104 927,058 7,250 SH SOLE 7,250 0 0
Johnson & Johnson COM 478160104 318,750 1,304 SH SOLE 1,304 0 0
Lamar Advertising Co-A COM 512816109 679,911 5,368 SH SOLE 5,368 0 0
Levi Strauss & Co Cl A COM 52736r102 1,529,585 82,725 SH SOLE 82,725 0 0
Markel Corp COM 570535104 9,482,303 4,954 SH SOLE 4,229 0 725
Martin Marietta Materials COM 573284106 421,148,042 715,411 SH SOLE 680,672 0 34,739
Mastercard Inc Cl A COM 57636Q104 777,041,820 1,555,141 SH SOLE 1,487,476 0 67,665
McCormick Inc COM 579780206 1,946,026 38,581 SH SOLE 34,981 0 3,600
McDonalds Corp COM 580135101 294,318 947 SH SOLE 947 0 0
Merck Inc COM 58933Y105 257,536 2,141 SH SOLE 2,141 0 0
Microsoft Corp COM 594918104 1,311,882 3,544 SH SOLE 3,169 0 375
Nestle SA Sponsored ADR COM 641069406 543,237,880 5,481,714 SH SOLE 5,289,005 0 192,709
Netflix Inc COM 64110L106 539,465,536 5,610,666 SH SOLE 5,467,428 0 143,238
Oracle Corp COM 68389X105 529,596 3,600 SH SOLE 3,600 0 0
Outfront Media Inc COM 69007J304 360,082 13,588 SH SOLE 13,588 0 0
Pepsico Inc COM 713448108 1,429,383 9,205 SH SOLE 9,205 0 0
Philip Morris International In COM 718172109 761,402,140 4,605,069 SH SOLE 4,448,486 0 156,583
Procter & Gamble COM 742718109 1,333,037 9,229 SH SOLE 8,613 0 616
Sunbelt Rentals Holdings Inc COM 866966104 393,738,067 6,049,133 SH SOLE 5,885,231 0 163,902
Uber Technologies Inc COM 90353T100 372,122,950 5,173,404 SH SOLE 5,016,941 0 156,463
Union Pac Corp COM 907818108 6,705,519 27,638 SH SOLE 27,638 0 0
Unum Group COM 91529Y106 277,514 3,800 SH SOLE 3,800 0 0
Visa Inc Cl A COM 92826C839 28,353,739 93,812 SH SOLE 84,658 0 9,154
Vulcan Materials COM 929160109 1,977,715 7,263 SH SOLE 6,832 0 431
Wal Mart Stores Inc COM 931142103 1,210,487 9,740 SH SOLE 9,740 0 0
Warby Parker Inc Cl A COM 93403j106 1,685,600 80,000 SH SOLE 80,000 0 0
Wells Fargo COM 949746101 593,115 7,450 SH SOLE 7,450 0 0
Yeti Holdings Inc COM 98585x104 878,160 24,000 SH SOLE 24,000 0 0
ALK Abello A/S COM k03294137 1,558,886 50,000 SH SOLE 50,000 0 0
Anheuser-Busch InBev SA COM B639CJ108 12,661,615 184,010 SH SOLE 172,252 0 11,758
Carlsberg B A/S COM K36628137 1,222,622 9,872 SH SOLE 9,407 0 465
Cofide SPA COM T19404101 195,985 251,250 SH SOLE 251,250 0 0
Compagnie Financiere Richemont COM H25662182 594,389,414 3,447,287 SH SOLE 3,328,913 0 118,374
Davide Campari-Milano NV COM N24565108 1,426,815 202,013 SH SOLE 194,388 0 7,625
De'Longhi COM t3508h102 1,347,175 39,000 SH SOLE 39,000 0 0
Demant A/S COM k3008m105 1,225,815 41,000 SH SOLE 41,000 0 0
Electrolux Professional COM w2457w116 1,216,848 230,000 SH SOLE 230,000 0 0
Eurofins Scientific COM L31839134 223,550,621 3,096,404 SH SOLE 3,006,495 0 89,909
Fielmann COM d2617n114 1,655,884 33,000 SH SOLE 33,000 0 0
Fluidra COM e52619108 1,594,530 70,000 SH SOLE 70,000 0 0
H&M COM w41422101 1,176,706 64,000 SH SOLE 64,000 0 0
Hanjaya Mandala Sampoerna COM Y7121Z146 213,305 5,000,000 SH SOLE 5,000,000 0 0
Heineken Holding NV COM N39338194 643,363,987 9,101,528 SH SOLE 8,855,323 0 246,205
Heineken NV COM N39427211 1,155,870 15,131 SH SOLE 12,231 0 2,900
Kalmar Oyj B COM x4s8se108 1,348,904 27,000 SH SOLE 27,000 0 0
Konecranes COM x4550j108 1,690,105 52,500 SH SOLE 52,500 0 0
Lindt & Spruengli AG - Reg COM H49983176 2,131,790 15 SH SOLE 15 0 0
Loreal SA COM F58149133 1,491,341 3,705 SH SOLE 3,705 0 0
Lotus Bakeries COM b5783h102 1,290,579 115 SH SOLE 115 0 0
LT Group Inc COM Y5342M100 428,337 1,775,000 SH SOLE 1,775,000 0 0
Nestle SA-REG COM H57312649 1,086,198 11,130 SH SOLE 11,130 0 0
Pernod Ricard COM F72027109 183,480,370 2,479,656 SH SOLE 2,421,210 0 58,446
Puig Brands COM e8s64t107 1,323,325 68,000 SH SOLE 68,000 0 0
Rational AG COM d6349p107 1,576,670 2,200 SH SOLE 2,200 0 0
SSP Group COM g8402n125 1,614,484 700,000 SH SOLE 700,000 0 0
Sunbelt Rentals Holdings ORD COM crest6610 1,138,638 18,178 SH SOLE 18,178 0 0
Zalando SE COM d98423102 662,976 28,000 SH SOLE 28,000 0 0
Total Return Securities Fund COM 870875101 579,163 97,667 SH SOLE 97,667 0 0