The Securities and Exchange Commission has not necessarily
reviewed the information in this filing and has not determined
if it is accurate and complete.
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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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 |
| ALPHABET INC | CAP STK CL C | 02079K107 | 715,261,645 | 2,099,142 | SH | DFND | 1 | 2,099,142 | 0 | 0 | |
| AMAZON COM INC | COM | 023135106 | 1,174,524,742 | 4,714,127 | SH | DFND | 1 | 4,714,127 | 0 | 0 | |
| AMPHENOL CORP | CL A | 032095101 | 902,744,506 | 10,708,713 | SH | DFND | 1 | 10,708,713 | 0 | 0 | |
| ARMSTRONG WORLD INDS INC NEW | COM | 04247X102 | 160,852,194 | 993,344 | SH | DFND | 1 | 993,344 | 0 | 0 | |
| CRH PLC | ORD | G25508105 | 300,666,010 | 3,631,232 | SH | DFND | 1 | 3,631,232 | 0 | 0 | |
| DEVON ENERGY CORP NEW | COM | 25179M103 | 498,585,208 | 10,829,392 | SH | DFND | 1 | 10,829,392 | 0 | 0 | |
| DISNEY WALT CO | COM | 254687106 | 97,879,358 | 933,073 | SH | DFND | 1 | 933,073 | 0 | 0 | |
| EMBRAER S.A. | SPONSORED ADS | 29082A107 | 244,197,834 | 3,242,138 | SH | DFND | 1 | 3,242,138 | 0 | 0 | |
| FERGUSON ENTERPRISES INC | COMMON STOCK NEW | 31488V107 | 236,022,392 | 1,060,203 | SH | DFND | 1 | 1,060,203 | 0 | 0 | |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 | 269,987,336 | 3,160,704 | SH | DFND | 1 | 3,160,704 | 0 | 0 | |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 | 223,100,072 | 1,467,474 | SH | DFND | 1 | 1,467,474 | 0 | 0 | |
| LAMAR ADVERTISING CO | CL A | 512816109 | 125,028,539 | 867,591 | SH | DFND | 1 | 867,591 | 0 | 0 | |
| LINDE PLC | SHS | G54950103 | 190,777,024 | 401,932 | SH | DFND | 1 | 401,932 | 0 | 0 | |
| MASTERCARD INCORPORATED | CL A | 57636Q104 | 191,741,707 | 347,692 | SH | DFND | 1 | 347,692 | 0 | 0 | |
| MEDLINE INC | COM CL A | 58507V107 | 460,920,690 | 13,283,017 | SH | DFND | 1 | 13,283,017 | 0 | 0 | |
| META PLATFORMS INC | CL A | 30303M102 | 139,858,215 | 192,860 | SH | DFND | 1 | 192,860 | 0 | 0 | |
| MOODYS CORP | COM | 615369105 | 743,522,526 | 1,637,246 | SH | DFND | 1 | 1,637,246 | 0 | 0 | |
| NVIDIA CORPORATION | COM | 67066G104 | 854,591,337 | 3,741,971 | SH | DFND | 1 | 3,741,971 | 0 | 0 | |
| S&P GLOBAL INC | COM | 78409V104 | 311,774,887 | 790,364 | SH | DFND | 1 | 790,364 | 0 | 0 | |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 | 133,813,136 | 198,227 | SH | DFND | 1 | 198,227 | 0 | 0 | |
| VISA INC | COM CL A | 92826C839 | 1,465,788,279 | 4,079,226 | SH | DFND | 1 | 4,079,226 | 0 | 0 | |
| VISTRA CORP | COM | 92840M102 | 131,572,372 | 951,011 | SH | DFND | 1 | 951,011 | 0 | 0 | |
| VULCAN MATLS CO | COM | 929160109 | 246,565,513 | 1,007,912 | SH | DFND | 1 | 1,007,912 | 0 | 0 | |