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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
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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALPHABET INC CAP STK CL A 02079K305   38,507,518 294,265 SH   SOLE   294,265 0 0
ALPHABET INC CAP STK CL C 02079K107   365,884 2,775 SH   SOLE   2,775 0 0
AMAZON COM INC COM 023135106   77,890,238 612,730 SH   SOLE   612,730 0 0
ARGO GROUP INTL HLDGS LTD COM G0464B107   654,242 21,925 SH   SOLE   21,925 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   130,407,933 372,275 SH   SOLE   372,275 0 0
BROOKFIELD ASSET MANAGMT LTD CL A LMT VTG SHS 113004105   13,745,282 412,276 SH   SOLE   412,276 0 0
BROOKFIELD CORP CL A LTD VT SH 11271J107   68,051,400 2,176,252 SH   SOLE   2,176,252 0 0
COMCAST CORP NEW CL A 20030N101   50,799,185 1,145,674 SH   SOLE   1,145,674 0 0
ECOLAB INC COM 278865100   59,633,882 352,030 SH   SOLE   352,030 0 0
ELEVANCE HEALTH INC COM 036752103   60,609,593 139,198 SH   SOLE   139,198 0 0
EXPEDITORS INTL WASH INC COM 302130109   2,300,051 20,065 SH   SOLE   20,065 0 0
FASTENAL CO COM 311900104   62,268,509 1,139,614 SH   SOLE   1,139,614 0 0
JPMORGAN CHASE & CO COM 46625H100   36,756,334 253,457 SH   SOLE   253,457 0 0
MARTIN MARIETTA MATLS INC COM 573284106   44,661,045 108,802 SH   SOLE   108,802 0 0
NETFLIX INC COM 64110L106   87,932,090 232,871 SH   SOLE   232,871 0 0
NIKE INC CL B 654106103   41,074,718 429,562 SH   SOLE   429,562 0 0
PAYCHEX INC COM 704326107   112,758,602 977,704 SH   SOLE   977,704 0 0
PROGRESSIVE CORP COM 743315103   191,805,095 1,376,921 SH   SOLE   1,376,921 0 0
REGENERON PHARMACEUTICALS COM 75886F107   120,250,092 146,119 SH   SOLE   146,119 0 0
UNION PAC CORP COM 907818108   39,043,405 191,737 SH   SOLE   191,737 0 0
US BANCORP DEL COM NEW 902973304   318,996 9,649 SH   SOLE   9,649 0 0
WELLS FARGO CO NEW COM 949746101   41,636,340 1,019,000 SH   SOLE   1,019,000 0 0