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    <issuerName>Visa</issuerName>
    <cusip>92826C839</cusip>
    <meetingDate>01/27/2026</meetingDate>
    <voteDescription>Approval, on an advisory basis, the compensation paid to our named executive officers.</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>62729</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>62729</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Deere</issuerName>
    <cusip>244199105</cusip>
    <meetingDate>02/25/2026</meetingDate>
    <voteDescription>Approve the compensation of Deere&#146;s named executive officers on an advisory basis (&#147;say-on-pay&#148;)</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>1172015</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>1172015</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>Moody's</issuerName>
    <cusip>615369105</cusip>
    <meetingDate>04/14/2026</meetingDate>
    <voteDescription>To vote on an advisory resolution approving executive compensation</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>1081186</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>1081186</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Texas Instruments</issuerName>
    <cusip>882508104</cusip>
    <meetingDate>04/16/2026</meetingDate>
    <voteDescription>advisory approval of the company&#146;s executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>1260079</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>1260079</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>Charter Communications</issuerName>
    <cusip>16119P108</cusip>
    <meetingDate>04/21/2026</meetingDate>
    <voteDescription>To hold an advisory vote on executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>546215</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>546215</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>Berkshire Hathaway</issuerName>
    <cusip>084670702</cusip>
    <meetingDate>05/02/2026</meetingDate>
    <voteDescription>To hold an advisory vote on executive compensation as disclosed in the materials.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>1364054</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>1364054</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>American Express</issuerName>
    <cusip>025816109</cusip>
    <meetingDate>05/05/2026</meetingDate>
    <voteDescription>Advisory resolution to approve executive compensation (Say-on-Pay)</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>2746597</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>2746597</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Canadian Pacific Kansas City</issuerName>
    <cusip>13646K108</cusip>
    <meetingDate>04/29/2026</meetingDate>
    <voteDescription>Have a say on our approach to executive pay at CPKC</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>5082492</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>5082492</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Canadian National</issuerName>
    <cusip>136375102</cusip>
    <meetingDate>05/01/2026</meetingDate>
    <voteDescription>Considering and approving, in an advisory, non-binding capacity, a resolution (the full text of which is set out on page 15 of the accompanying management information circular) accepting our approach to executive compensation as disclosed in the &#147;Statement of Executive Compensation&#148; section of the accompanying management information circular</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>69208</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>69208</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>S&amp;P Global</issuerName>
    <cusip>78409V104</cusip>
    <meetingDate>05/20/2026</meetingDate>
    <voteDescription>Approve, on an advisory basis, the executive compensation program for the Company&#146;s named executive officers, as described in this Proxy Statement.</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>1303039</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>1303039</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Wayfair</issuerName>
    <cusip>94419L101</cusip>
    <meetingDate>05/21/2026</meetingDate>
    <voteDescription>to hold an advisory vote to approve our executive compensation (Proposal No. 3)</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>273044</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>273044</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Cable One</issuerName>
    <cusip>12685J105</cusip>
    <meetingDate>05/14/2026</meetingDate>
    <voteDescription>To approve, on a non-binding advisory basis, the compensation of the Company&#146;s named executive officers for 2025.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>271808</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>271808</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Booking Holdings</issuerName>
    <cusip>09857L108</cusip>
    <meetingDate>05/02/2026</meetingDate>
    <voteDescription>Advisory vote on 2025 executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>4187713</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>4187713</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Comcast</issuerName>
    <cusip>20030N101</cusip>
    <meetingDate>06/10/2026</meetingDate>
    <voteDescription>Advisory vote to approve executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>11187963</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>11187963</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Mastercard</issuerName>
    <cusip>57636Q104</cusip>
    <meetingDate>06/16/2026</meetingDate>
    <voteDescription>Advisory approval of Mastercard's executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>1319491</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>1319491</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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