| Security | Market Valueª | Shares or Principal | Investment
Discretion | Other
Managersº | Voting Authority |
|---|
| Issuer Name | Issue Class | Opt. | CUSIP/CINS | $1000s | Weight | Amount | S/P | Price | Sole | Shared | None |
|---|
 | | | | | | | | | ↓List | (S/P Amounts or For All) |
|---|
|
| ADOBE INC | COM | – | 00724F·10·1 | 713,998 | 4.93% | 1,567,090 | Sh. | 455.62 | Sole | – | Sole | – | – |
| ALARM COM HLDGS INC | COM | – | 011642·10·5 | 64,396 | 0.45% | 968,939 | Sh. | 66.46 | Sole | – | Sole | – | – |
| AMERICAN TOWER CORP NEW | COM | – | 03027X·10·0 | 1,758,132 | 12.15% | 6,998,377 | Sh. | 251.22 | Sole | – | Sole | – | – |
| ANSYS INC | COM | – | 03662Q·10·5 | 193,692 | 1.34% | 609,764 | Sh. | 317.65 | Sole | – | Sole | – | – |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | – | 084670·70·2 | 5,793 | 0.04% | 16,414 | Sh. | 352.93 | Sole | – | Sole | – | – |
| BROOKFIELD ASSET MGMT INC | CL A LTD VT SH | – | 112585·10·4 | 742,634 | 5.13% | 13,127,694 | Sh. | 56.57 | Sole | – | Sole | – | – |
| CARMAX INC | COM | – | 143130·10·2 | 708,159 | 4.89% | 7,339,952 | Sh. | 96.48 | Sole | – | Sole | – | – |
| COSTAR GROUP INC | COM | – | 22160N·10·9 | 643,997 | 4.45% | 9,668,180 | Sh. | 66.61 | Sole | – | Sole | – | – |
| DANAHER CORP DEL | COM | – | 235851·10·2 | 485,549 | 3.36% | 1,655,300 | Sh. | 293.33 | Sole | – | Sole | – | – |
| DIGITALBRIDGE GROUP INC | CL A COM | – | 25401T·10·8 | 75,635 | 0.52% | 10,504,800 | Sh. | 7.20 | Sole | – | Sole | – | – |
| DOLLAR TREE INC | COM | – | 256746·10·8 | 5,193 | 0.04% | 32,427 | Sh. | 160.14 | Sole | – | Sole | – | – |
| GOOSEHEAD INS INC | COM CL A | – | 38267D·10·9 | 23,050 | 0.16% | 293,366 | Sh. | 78.57 | Sole | – | Sole | – | – |
| KKR & CO L P DEL | COM UNITS | – | 48251W·10·4 | 869,175 | 6.01% | 14,865,320 | Sh. | 58.47 | Sole | – | Sole | – | – |
| MASTERCARD INC | CALL | Call | 57636Q·10·4 | 21,900a | 0.15% | 1,000,000 | Sh. | 21.90 | Sole | – | Sole | – | – |
| MASTERCARD INC | CL A | – | 57636Q·10·4 | 2,092,514 | 14.46% | 5,855,151 | Sh. | 357.38 | Sole | – | Sole | – | – |
| MOODYS CORP | COM | – | 615369·10·5 | 1,909,643 | 13.20% | 5,659,712 | Sh. | 337.41 | Sole | – | Sole | – | – |
| O REILLY AUTOMOTIVE INC NEW | COM | – | 67103H·10·7 | 1,080,278 | 7.47% | 1,577,141 | Sh. | 684.96 | Sole | – | Sole | – | – |
| ROPER INDS INC NEW | COM | – | 776696·10·6 | 784,247 | 5.42% | 1,660,730 | Sh. | 472.23 | Sole | – | Sole | – | – |
| SALESFORCE COM INC | COM | – | 79466L·30·2 | 602,396 | 4.16% | 2,837,210 | Sh. | 212.32 | Sole | – | Sole | – | – |
| THREDUP INC | CL A | – | 88556E·10·2 | 173 | 0.00% | 22,500 | Sh. | 7.69 | Sole | – | Sole | – | – |
| VERISK ANALYTICS INC | CL A | – | 92345Y·10·6 | 524,617 | 3.63% | 2,444,286 | Sh. | 214.63 | Sole | – | Sole | – | – |
| VISA INC | COM CL A | – | 92826C·83·9 | 1,163,126 | 8.04% | 5,244,738 | Sh. | 221.77 | Sole | – | Sole | – | – |
| — 21 Issuers — | — 22 Issues — | — 22 Holdings: $14,468,297,000ª — | — Sole Manager — |
____________
ª The market value of one Holding (usually Options) was adjusted (a), due to conflicting security prices in other Filings. [ Show Data As Filed ]
º Other Included Managers with whom investment discretion is shared as to any Holding: No Other Included Managers [ 1 Not Allocated Above ] |
|
