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
TELEDYNE TECHNOLOGIES INC COM 879360105 277,363,043 415,899 SH SOLE 415,899 0 0
ITT INC COM 45073V108 276,394,913 1,397,628 SH SOLE 1,397,628 0 0
API GROUP CORP COM STK 00187Y100 276,236,260 6,522,698 SH SOLE 6,522,698 0 0
CRH PLC ORD G25508105 263,756,177 2,465,011 SH SOLE 2,465,011 0 0
XPO INC COM 983793100 236,104,029 1,150,100 SH SOLE 1,150,100 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 234,540,799 468,716 SH SOLE 468,716 0 0
WOODWARD INC COM 980745103 231,958,397 545,220 SH SOLE 545,220 0 0
CANADIAN NATL RY CO COM 136375102 217,740,348 1,826,068 SH SOLE 1,826,068 0 0
WASTE CONNECTIONS INC COM 94106B101 214,331,502 1,285,809 SH SOLE 1,285,809 0 0
WEST PHARMACEUTICAL SVSC INC COM 955306105 214,195,914 596,646 SH SOLE 596,646 0 0
APPLIED MATLS INC COM 038222105 200,892,780 277,860 SH SOLE 277,860 0 0
KLA CORP COM NEW 482480100 197,273,084 653,850 SH SOLE 653,850 0 0
LIVE NATION ENTERTAINMENT IN COM 538034109 195,781,212 1,069,200 SH SOLE 1,069,200 0 0
TEXAS INSTRS INC COM 882508104 193,575,898 649,431 SH SOLE 649,431 0 0
CANADIAN PACIFIC KANSAS CITY COM 13646K108 193,515,098 2,233,296 SH SOLE 2,233,296 0 0
LIBERTY MEDIA CORP DEL COM LBTY ONE S C 531229755 189,295,967 1,989,657 SH SOLE 1,989,657 0 0
UNITED RENTALS INC COM 911363109 180,070,600 158,948 SH SOLE 158,948 0 0
ENTEGRIS INC COM 29362U104 174,410,242 969,700 SH SOLE 969,700 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 174,281,328 1,312,063 SH SOLE 1,312,063 0 0
EOG RES INC COM 26875P101 172,503,149 1,329,709 SH SOLE 1,329,709 0 0
WATERS CORP COM 941848103 169,489,952 451,925 SH SOLE 451,925 0 0
MASTERCARD INCORPORATED CL A 57636Q104 158,009,040 307,650 SH SOLE 307,650 0 0
KEYSIGHT TECHNOLOGIES INC COM 49338L103 157,136,621 448,872 SH SOLE 448,872 0 0
STANDARDAERO INC COM 85423L103 150,522,763 5,032,523 SH SOLE 5,032,523 0 0
FERGUSON ENTERPRISES INC COMMON STOCK NEW 31488V107 146,862,177 618,810 SH SOLE 618,810 0 0
MICROSOFT CORP COM 594918104 144,146,119 386,430 SH SOLE 386,430 0 0
BECTON DICKINSON & CO COM 075887109 143,945,096 951,200 SH SOLE 951,200 0 0
CISCO SYS INC COM 17275R102 141,797,712 1,207,200 SH SOLE 1,207,200 0 0
STERIS PLC SHS USD G8473T100 138,494,626 657,713 SH SOLE 657,713 0 0
S&P GLOBAL INC COM 78409V104 127,325,766 312,640 SH SOLE 312,640 0 0
CONOCOPHILLIPS COM 20825C104 126,433,137 1,216,171 SH SOLE 1,216,171 0 0
MARTIN MARIETTA MATLS INC COM 573284106 119,527,995 207,262 SH SOLE 207,262 0 0
ECOLAB INC COM 278865100 115,674,414 415,184 SH SOLE 415,184 0 0
CORE & MAIN INC CL A 21874C102 115,599,956 2,395,854 SH SOLE 2,395,854 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 111,819,072 338,374 SH SOLE 338,374 0 0
ROYAL GOLD INC COM 780287108 111,392,361 558,050 SH SOLE 558,050 0 0
SCHWAB CHARLES CORP COM 808513105 110,942,588 1,202,369 SH SOLE 1,202,369 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 101,094,116 821,169 SH SOLE 821,169 0 0
WYNDHAM HOTELS & RESORTS INC COM 98311A105 100,647,792 1,195,200 SH SOLE 1,195,200 0 0
COOPER COS INC COM 216648501 92,075,640 1,284,000 SH SOLE 1,284,000 0 0
DANAHER CORP DEL COM 235851102 87,925,568 461,600 SH SOLE 461,600 0 0
ANALOG DEVICES INC COM 032654105 80,505,565 202,698 SH SOLE 202,698 0 0
WATSCO INC COM 942622200 78,695,293 188,840 SH SOLE 188,840 0 0
IDEX CORP COM 45167R104 72,918,808 321,299 SH SOLE 321,299 0 0
ETSY INC COM 29786A106 66,169,872 878,400 SH SOLE 878,400 0 0
CDW CORP COM 12514G108 45,767,913 325,426 SH SOLE 325,426 0 0
SHERWIN WILLIAMS CO COM 824348106 37,879,332 110,012 SH SOLE 110,012 0 0
POOL CORP COM 73278L105 37,584,936 174,895 SH SOLE 174,895 0 0
LIBERTY LIVE HOLDINGS INC COM SHS SER C 530909308 2,849,533 26,974 SH SOLE 26,974 0 0