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
AAON INC COM 000360206 25,978,264 204,779 SH SOLE 0 0 0
ALPHABET INC CAP STK CL A 02079K305 110,826,870 310,118 SH DFND 0 0 0
ALPHABET INC C CAP STK CL C 02079K107 213,927,182 605,460 SH DFND 0 0 0
AMETEK INC COM 031100100 144,869,075 598,781 SH DFND 0 0 0
AMERICAN EXPRESS CO COM 025816109 15,753,986 46,702 SH SOLE 0 0 0
ANALOG DEVICES INC COM 032654105 37,059,933 93,310 SH DFND 0 0 0
APPLE INC COM 037833100 3,760,233 12,995 SH DFND 0 0 0
ARISTA NETWORKS INC COM SHS 040413205 57,740,853 339,892 SH SOLE 0 0 0
AUTOMATIC DATA PROC INC COM 053015103 146,587,816 654,556 SH DFND 0 0 0
BANK OZK LITTLE ROCK ARK COM 06417N103 62,409,862 1,198,116 SH DFND 0 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 124,320,394 248,447 SH DFND 0 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 6,739,650 9 SH DFND 0 0 0
BOOKING HOLDINGS INC. COM 09857L108 93,159,631 522,664 SH DFND 0 0 0
BRIGHT HORIZONSFAMILY SOLUTION COM 109194100 76,606,608 1,080,793 SH DFND 0 0 0
BROWN & BROWN COM 115236101 48,323,425 753,288 SH DFND 0 0 0
BUILDERS FIRSTSOURCE INC COM 12008R107 8,184,199 91,464 SH SOLE 0 0 0
COPART INC COM 217204106 233,244 8,274 SH SOLE 0 0 0
DISNEY WALT CO COM 254687106 49,623,324 515,567 SH DFND 0 0 0
FERGUSON ENTERPRISES INC COMMON STOCK NEW 31488V107 8,871,395 37,380 SH SOLE 0 0 0
FIVE BELOW INC COM 33829M101 107,536,354 598,122 SH DFND 0 0 0
FLOOR & DECOR HLDGS INC CL A 339750101 13,644,905 229,867 SH DFND 0 0 0
HAWKINS INC COM 420261109 13,492,963 94,954 SH SOLE 0 0 0
HEICO CORP NEW CL A 422806208 189,627,812 735,248 SH DFND 0 0 0
INSTALLED BLDG PRODS INC COM 45780R101 91,398,634 397,662 SH DFND 0 0 0
INVESCO QQQ TR UNIT SER 1 46090E103 287,932 391 SH SOLE 0 0 0
ISHARES TR US HOME CONS ETF 464288752 1,218,446 11,662 SH DFND 0 0 0
JPMORGAN CHASE & CO COM 46625H100 15,671,251 47,876 SH DFND 0 0 0
KEYSIGHT TECHNOLOGIES INC COM 49338L103 50,085,215 143,072 SH DFND 0 0 0
KINSALE CAPITAL GROUP IN COM 49714P108 79,395,491 240,731 SH DFND 0 0 0
LITTELFUSE INC COM 537008104 33,751,336 74,125 SH DFND 0 0 0
LULULEMON ATHLETICA INC COM 550021109 14,706,727 128,803 SH DFND 0 0 0
MARKEL CORP COMMON STOCK 570535104 60,303,090 30,877 SH DFND 0 0 0
MASTERCARD INCORPORATED CL A 57636Q104 14,799,898 28,816 SH DFND 0 0 0
MEDPACE HOLDINGS INC COM 58506Q109 134,479,318 253,931 SH DFND 0 0 0
META PLATFORMS INC CL A 30303M102 170,613,782 302,888 SH DFND 0 0 0
MICROSOFT CORP COM 594918104 666,587 1,787 SH DFND 0 0 0
MSA SAFETY INC COM 553498106 29,033,527 166,305 SH DFND 0 0 0
NVR INC COM 62944T105 90,195,789 13,238 SH DFND 0 0 0
NEW YORK TIMES CO-A- CL A 650111107 33,899,992 484,424 SH DFND 0 0 0
PROGRESSIVE CORP COM 743315103 118,463,687 542,292 SH DFND 0 0 0
RESMED INC COM 761152107 75,548,155 387,665 SH DFND 0 0 0
SCHWAB CHARLES CORP COM 808513105 155,158,187 1,681,567 SH DFND 0 0 0
SPDR GOLD TR GOLD SHS 78463V107 25,033,146 3,876 SH SOLE 0 0 0
SPDR S&P 500 ETF ETF 78462F103 1,713,090 2,294 SH DFND 0 0 0
SUNBELT RENTALS HOLDINGS SHS 866966104 21,593,757 246,369 SH SOLE 0 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 1,745,518 3,655 SH DFND 0 0 0
TWFG INC COM CL A 87318A101 15,691,471 652,452 SH DFND 0 0 0
VISA INC COM CL A 92826C839 133,770,791 389,900 SH DFND 0 0 0
VEEVA SYSTEMS INC CL-A CLASS A COM 922475108 16,851,841 94,956 SH DFND 0 0 0
WATSCO INC COM 942622200 27,493,762 65,975 SH SOLE 0 0 0
YUM CHINA HLDGS INC COM 98850P109 1,472,791 36,036 SH SOLE 0 0 0