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
MOODYS CORP COM 615369105 92,466,405 181,005 SH SOLE 70,832 0 110,173
MASTERCARD INCORPORATED CL A 57636Q104 91,932,232 161,036 SH SOLE 57,685 0 103,351
MICROSOFT CORP COM 594918104 84,097,393 173,891 SH SOLE 59,753 0 114,138
FAIR ISAAC CORP COM 303250104 71,322,312 42,187 SH SOLE 15,344 0 26,843
ALPHABET INC CAP STK CL C 02079K107 63,982,251 203,895 SH SOLE 60,760 0 143,135
MSCI INC COM 55354G100 63,274,387 110,286 SH SOLE 41,877 0 68,409
COPART INC COM 217204106 57,952,062 1,480,257 SH SOLE 558,180 0 922,077
WASTE MGMT INC DEL COM 94106L109 53,947,594 245,540 SH SOLE 96,947 0 148,593
AON PLC SHS CL A G0403H108 53,441,206 151,443 SH SOLE 61,134 0 90,309
AMAZON COM INC COM 023135106 45,713,921 198,050 SH SOLE 70,187 0 127,863
S&P GLOBAL INC COM 78409V104 44,864,875 85,851 SH SOLE 34,240 0 51,611
MARSH & MCLENNAN COS INC COM 571748102 44,653,366 240,693 SH SOLE 98,033 0 142,660
REPUBLIC SVCS INC COM 760759100 44,593,040 210,414 SH SOLE 92,256 0 118,158
INTUIT COM 461202103 41,921,913 63,286 SH SOLE 26,583 0 36,703
VERISK ANALYTICS INC COM 92345Y106 41,699,843 186,418 SH SOLE 57,409 0 129,009
CME GROUP INC COM 12572Q105 34,196,443 125,225 SH SOLE 62,097 0 63,128
LINDE PLC SHS G54950103 33,866,026 79,425 SH SOLE 40,809 0 38,616
TRANSDIGM GROUP INC COM 893641100 30,969,547 23,288 SH SOLE 10,934 0 12,354
CANADIAN NATL RY CO COM 136375102 28,978,076 293,152 SH SOLE 115,269 0 177,883
CBRE GROUP INC CL A 12504L109 28,907,631 179,785 SH SOLE 60,591 0 119,194
CANADIAN PACIFIC KANSAS CITY COM 13646K108 28,692,875 389,690 SH SOLE 151,484 0 238,206
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 24,592,654 48,926 SH SOLE 0 0 48,926
COSTAR GROUP INC COM 22160N109 24,154,289 359,225 SH SOLE 156,574 0 202,651
FERRARI N V COM N3167Y103 23,787,469 64,367 SH SOLE 26,240 0 38,127
VISA INC COM CL A 92826C839 21,437,149 61,125 SH SOLE 27,652 0 33,473
META PLATFORMS INC CL A 30303M102 17,071,908 25,863 SH SOLE 9,339 0 16,524
PROCTER AND GAMBLE CO COM 742718109 16,774,006 117,047 SH SOLE 42,509 0 74,538
COLGATE PALMOLIVE CO COM 194162103 16,506,251 208,887 SH SOLE 82,613 0 126,274
ADOBE INC COM 00724F101 16,125,790 46,075 SH SOLE 15,675 0 30,400
APPLE INC COM 037833100 15,675,257 57,659 SH SOLE 20,321 0 37,338
PROGRESSIVE CORP COM 743315103 14,608,011 64,149 SH SOLE 26,092 0 38,057
CRH PLC ORD G25508105 14,263,892 114,294 SH SOLE 35,193 0 79,101
VULCAN MATLS CO COM 929160109 12,849,161 45,050 SH SOLE 16,075 0 28,975
MARTIN MARIETTA MATLS INC COM 573284106 12,770,134 20,509 SH SOLE 6,038 0 14,471
COCA COLA CO COM 191216100 5,317,804 76,066 SH SOLE 0 0 76,066
ISHARES TR 0-3 MNTH TREASRY 46436E718 1,640,712 16,345 SH SOLE 0 0 16,345
BERKSHIRE HATHAWAY INC DEL CL A 084670108 1,509,600 2 SH SOLE 0 0 2
STRYKER CORPORATION COM 863667101 1,379,872 3,926 SH SOLE 0 0 3,926
EQUIFAX INC COM 294429105 1,301,880 6,000 SH SOLE 0 0 6,000
JOHNSON & JOHNSON COM 478160104 898,163 4,340 SH SOLE 0 0 4,340
AMGEN INC COM 031162100 523,042 1,598 SH SOLE 0 0 1,598
CATERPILLAR INC COM 149123101 341,431 596 SH SOLE 0 0 596
OREILLY AUTOMOTIVE INC COM 67103H107 239,427 2,625 SH SOLE 0 0 2,625
SCHWAB CHARLES CORP COM 808513105 208,613 2,088 SH SOLE 0 0 2,088