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
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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
AIR PRODUCTS AND CHEMICALS I COM 009158106 162,234 553,359 SH SOLE 553,359 0 0
ALCON AG ORD SHS H01301128 651,941 9,683,004 SH SOLE 9,683,004 0 0
AMAZON COM INC COM 023135106 272,145 1,141,835 SH SOLE 1,141,835 0 0
ANALOG DEVICES INC COM 032654105 245,007 616,881 SH SOLE 616,881 0 0
CANADIAN PACIFIC KANSAS CITY COM 13646K108 210,215 2,426,027 SH SOLE 2,426,027 0 0
CARLISLE COS INC COM 142339100 69,435 191,414 SH SOLE 191,414 0 0
CISCO SYS INC COM 17275R102 231,587 1,971,628 SH SOLE 1,971,628 0 0
COPART INC COM 217204106 18,509 656,567 SH SOLE 656,567 0 0
EQUIFAX INC COM 294429105 21,338 134,439 SH SOLE 134,439 0 0
FAIR ISAAC CORP COM 303250104 123,802 103,619 SH SOLE 103,619 0 0
FERRARI N V COM N3167Y103 328,940 886,360 SH SOLE 886,360 0 0
GE AEROSPACE COM NEW 369604301 288,302 771,417 SH SOLE 771,417 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 123,542 1,003,510 SH SOLE 1,003,510 0 0
LINDE PLC SHS G54950103 33,622 64,789 SH SOLE 64,789 0 0
MASTERCARD INCORPORATED CL A 57636Q104 97,554 189,941 SH SOLE 189,941 0 0
MICROSOFT CORP COM 594918104 234,340 628,224 SH SOLE 628,224 0 0
MOODYS CORP COM 615369105 193,814 427,920 SH SOLE 427,920 0 0
STRYKER CORPORATION COM 863667101 6,493 20,624 SH SOLE 20,624 0 0
SUNBELT RENTALS HOLDINGS INC SHS 866966104 454,457 6,074,817 SH SOLE 6,074,817 0 0
WILLIAMS COS INC COM 969457100 110,478 1,486,116 SH SOLE 1,486,116 0 0
VISA INC COM CL A 92826C839 337,987 985,126 SH SOLE 985,126 0 0
WATERS CORP COM 941848103 76,267 203,356 SH SOLE 203,356 0 0