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    <issuerName>Mastercard</issuerName>
    <cusip>57636Q104</cusip>
    <meetingDate>06/16/2026</meetingDate>
    <voteDescription>Advisory approval of Mastercard's executivecompensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>87650</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>87650</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>Visa</issuerName>
    <cusip>92826C839</cusip>
    <meetingDate>01/27/2026</meetingDate>
    <voteDescription>To approve, on an advisory basis, thecompensation paid to our named executiveofficers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>40489</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>40489</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>Transdigm</issuerName>
    <cusip>893641100</cusip>
    <meetingDate>03/05/2026</meetingDate>
    <voteDescription>Approval, on an advisory basis, of thecompensation of our named executiveofficers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>58464</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>58464</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>Tucows</issuerName>
    <cusip>898697206</cusip>
    <meetingDate>06/02/2026</meetingDate>
    <voteDescription>To approve on a non-binding basis, theExecutive compensation for the NamedExecutive Officers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>1091985</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>1091985</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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