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

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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
ALPHABET INC Class A 02079K305 142,948,000 400,000 SH SOLE 400,000 0 0
AMAZON COM INC Common 023135106 61,968,400 260,000 SH SOLE 260,000 0 0
AMERICAN EXPRESS CO Common 025816109 47,355,000 140,000 SH SOLE 140,000 0 0
ANALOG DEVICES INC Common 032654105 139,009,500 350,000 SH SOLE 350,000 0 0
BRADY CORP Class A 104674106 18,314,000 200,000 SH SOLE 200,000 0 0
CAPITAL ONE FINL CORP Common 14040H105 70,217,000 350,000 SH SOLE 350,000 0 0
CELLEBRITE DI LTD Ordinary Shares M2197Q107 18,980,000 1,300,000 SH SOLE 1,300,000 0 0
CHEVRON CORPORATION Common 166764100 42,476,000 256,250 SH SOLE 256,250 0 0
EQUIFAX INC Common 294429105 23,014,400 145,000 SH SOLE 145,000 0 0
GALLAGHER ARTHUR J & CO Common 363576109 58,540,350 255,000 SH SOLE 255,000 0 0
JOHNSON & JOHNSON Common 478160104 17,777,900 70,000 SH SOLE 70,000 0 0
JPMORGAN CHASE & CO Common 46625H100 45,826,200 140,000 SH SOLE 140,000 0 0
KEYSIGHT TECHNOLOGIES INC Common 49338L103 70,014,000 200,000 SH SOLE 200,000 0 0
MEDTRONIC PLC Common G5960L103 19,557,500 250,000 SH SOLE 250,000 0 0
MERCADOLIBRE INC Common 58733R102 30,553,020 18,000 SH SOLE 18,000 0 0
MERCK & CO INC Common 58933Y105 19,275,000 150,000 SH SOLE 150,000 0 0
META PLATFORMS INC Class A 30303M102 50,696,100 90,000 SH SOLE 90,000 0 0
MICROSOFT CORP Common 594918104 29,841,600 80,000 SH SOLE 80,000 0 0
MOTOROLA SOLUTIONS INC Common 620076307 58,140,600 140,000 SH SOLE 140,000 0 0
NIKE INC Common 654106103 20,525,000 500,000 SH SOLE 500,000 0 0
PROGRESSIVE CORP Common 743315103 87,380,000 400,000 SH SOLE 400,000 0 0
RAYONIER INC Common 754907103 26,815,567 1,260,130 SH SOLE 1,260,130 0 0
ROPER TECHNOLOGIES INC Common 776696106 16,919,500 50,000 SH SOLE 50,000 0 0
SCHWAB CHARLES CORP Common 808513105 64,589,000 700,000 SH SOLE 700,000 0 0
SUNBELT RENTALS HOLDINGS INC Common 866966104 37,405,000 500,000 SH SOLE 500,000 0 0
TAIWAN SEMICONDUCTOR MANUFAC ADR 874039100 38,205,600 80,000 SH SOLE 80,000 0 0
TELEDYNE TECHNOLOGIES INC Common 879360105 46,683,000 70,000 SH SOLE 70,000 0 0
TWFG INC Class A 87318A101 12,025,000 500,000 SH SOLE 500,000 0 0
VISA INC Common Class A 92826C839 25,731,750 75,000 SH SOLE 75,000 0 0