| 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 SYSTEMS INCORPORATED | COM | – | 00724F·10·1 | 458,454 | 4.05% | 1,665,895 | Sh. | 275.20 | Sole | – | Sole | – | – |
| ALARM COM HLDGS INC | COM | – | 011642·10·5 | 17,119 | 0.15% | 263,939 | Sh. | 64.86 | Sole | – | Sole | – | – |
| ALPHABET INC | COM | Call | 02079K·10·7 | 9,615 | 0.08% | 100,000 | Sh. | 96.15 | Sole | – | Sole | – | – |
| AMERICAN TOWER CORP NEW | COM | – | 03027X·10·0 | 1,497,143 | 13.21% | 6,973,187 | Sh. | 214.70 | Sole | – | Sole | – | – |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | – | 084670·70·2 | 4,570 | 0.04% | 17,114 | Sh. | 267.03 | Sole | – | Sole | – | – |
| BROOKFIELD ASSET MGMT INC | CL A LTD VT SH | – | 112585·10·4 | 546,567 | 4.82% | 13,366,753 | Sh. | 40.89 | Sole | – | Sole | – | – |
| CARMAX INC | COM | – | 143130·10·2 | 485,447 | 4.28% | 7,353,022 | Sh. | 66.02 | Sole | – | Sole | – | – |
| COSTAR GROUP INC | COM | – | 22160N·10·9 | 495,311 | 4.37% | 7,111,430 | Sh. | 69.65 | Sole | – | Sole | – | – |
| DANAHER CORPORATION | COM | – | 235851·10·2 | 427,547 | 3.77% | 1,655,300 | Sh. | 258.29 | Sole | – | Sole | – | – |
| DIGITALBRIDGE GROUP INC | CL A COM | – | 25401T·60·3 | 57,842 | 0.51% | 4,623,651 | Sh. | 12.51 | Sole | – | Sole | – | – |
| DOLLAR TREE INC | COM | – | 256746·10·8 | 4,479 | 0.04% | 32,912 | Sh. | 136.09 | Sole | – | Sole | – | – |
| GOOSEHEAD INS INC | COM CL A | – | 38267D·10·9 | 8,684 | 0.08% | 243,672 | Sh. | 35.64 | Sole | – | Sole | – | – |
| KKR & CO L P DEL | COM UNITS | – | 48251W·10·4 | 664,475 | 5.86% | 15,452,918 | Sh. | 43.00 | Sole | – | Sole | – | – |
| MASTERCARD INCORPORATED | CL A | – | 57636Q·10·4 | 1,675,111 | 14.78% | 5,891,226 | Sh. | 284.34 | Sole | – | Sole | – | – |
| MASTERCARD INCORPORATED | COM | Call | 57636Q·10·4 | 284a | 0.00% | 10,000 | Sh. | 28.43 | Sole | – | Sole | – | – |
| MOODYS CORP | COM | – | 615369·10·5 | 1,386,647 | 12.23% | 5,703,785 | Sh. | 243.11 | Sole | – | Sole | – | – |
| OREILLY AUTOMOTIVE INC | COM | – | 67103H·10·7 | 1,035,012 | 9.13% | 1,471,546 | Sh. | 703.35 | Sole | – | Sole | – | – |
| ROPER TECHNOLOGIES INC | COM | – | 776696·10·6 | 595,442 | 5.25% | 1,655,660 | Sh. | 359.64 | Sole | – | Sole | – | – |
| SALESFORCE COM INC | COM | – | 79466L·30·2 | 445,257 | 3.93% | 3,095,500 | Sh. | 143.84 | Sole | – | Sole | – | – |
| SNOWFLAKE INC | CL A | – | 833445·10·9 | 169,960 | 1.50% | 1,000,000 | Sh. | 169.96 | Sole | – | Sole | – | – |
| VERISK ANALYTICS INC | CL A | – | 92345Y·10·6 | 416,824 | 3.68% | 2,444,286 | Sh. | 170.53 | Sole | – | Sole | – | – |
| VISA INC | COM CL A | – | 92826C·83·9 | 931,728 | 8.22% | 5,244,738 | Sh. | 177.65 | Sole | – | Sole | – | – |
| — 21 Issuers — | — 22 Issues — | — 22 Holdings: $11,333,518,300ª — | — 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 ] |
|
