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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Intercontinental Exchange In COM 45866F104   240,621,927 1,750,869 SH   SOLE   1,750,869 0 0
Waste Connections Inc COM 94106B101   222,487,711 1,293,458 SH   SOLE   1,293,458 0 0
Alphabet Inc CAP STK CL C 02079K107   185,500,794 1,218,316 SH   SOLE   1,218,316 0 0
T-Mobile US Inc COM 872590104   307,279,115 1,882,607 SH   SOLE   1,882,607 0 0
S&P Global Inc COM 78409V104   260,766,814 612,920 SH   SOLE   612,920 0 0
CBRE Group Inc CL A 12504L109   133,346,768 1,371,316 SH   SOLE   1,371,316 0 0
Keysight Technologies Inc COM 49338L103   139,702,386 893,352 SH   SOLE   893,352 0 0
Mastercard Incorporated CL A 57636Q104   340,128,075 706,290 SH   SOLE   706,290 0 0
TopBuild Corp COM 89055F103   337,734,484 766,307 SH   SOLE   766,307 0 0
Ferguson PLC New SHS G3421J106   128,657,454 589,010 SH   SOLE   589,010 0 0
Aecom COM 00766T100   251,214,952 2,561,327 SH   SOLE   2,561,327 0 0
Airbnb Inc COM CL A 009066101   109,849,173 665,914 SH   SOLE   665,914 0 0
Accenture PLC Ireland SHS CLASS A G1151C101   224,671,909 648,198 SH   SOLE   648,198 0 0
Alcon AG ORD SHS H01301128   96,244,427 1,155,534 SH   SOLE   1,155,534 0 0
CDW Corp COM 12514G108   124,392,464 486,326 SH   SOLE   486,326 0 0
Hilton Worldwide Hldgs Inc COM 43300A203   111,363,605 522,074 SH   SOLE   522,074 0 0
Steris PLC SHS USD G8473T100   133,644,699 594,452 SH   SOLE   594,452 0 0
Api Group Corp COM STK 00187Y100   203,958,484 5,193,748 SH   SOLE   5,193,748 0 0
Elevance Health Inc COM 036752103   152,632,768 294,351 SH   SOLE   294,351 0 0
Live Nation Entertainment In COM 538034109   309,832,061 2,929,300 SH   SOLE   2,929,300 0 0
CANADIAN PACIFIC KANSAS CITY COM 13646K108   230,070,445 2,609,396 SH   SOLE   2,609,396 0 0
LIBERTY MEDIA CORP DEL COM LBTY LIV S C 531229722   1,677,167 38,274 SH   SOLE   38,274 0 0
LIBERTY MEDIA CORP DEL COM LBTY ONE S C 531229755   233,700,853 3,562,513 SH   SOLE   3,562,513 0 0
Canadian Natl Ry Co COM 136375102   180,451,656 1,370,068 SH   SOLE   1,370,068 0 0
Conocophillips COM 20825C104   274,119,245 2,153,671 SH   SOLE   2,153,671 0 0
West Pharmaceutical Svsc Inc COM 955306105   236,280,815 597,106 SH   SOLE   597,106 0 0
Marsh & Mclennan Cos Inc COM 571748102   239,795,119 1,164,167 SH   SOLE   1,164,167 0 0
Martin Marietta Matls Inc COM 573284106   239,953,537 390,842 SH   SOLE   390,842 0 0
Schwab Charles Corp COM 808513105   207,506,422 2,868,488 SH   SOLE   2,868,488 0 0
Analog Devices Inc COM 032654105   144,983,630 733,018 SH   SOLE   733,018 0 0
Gartner Inc COM 366651107   323,239,937 678,121 SH   SOLE   678,121 0 0
Sherwin Williams Co COM 824348106   121,604,401 350,112 SH   SOLE   350,112 0 0
KLA Corp COM NEW 482480100   211,514,422 302,782 SH   SOLE   302,782 0 0
Teledyne Technologies Inc COM 879360105   95,755,103 223,039 SH   SOLE   223,039 0 0
Agilent Technologies Inc COM 00846U101   142,644,908 980,310 SH   SOLE   980,310 0 0
Royal Gold Inc COM 780287108   151,778,914 1,246,030 SH   SOLE   1,246,030 0 0
Texas Instrs Inc COM 882508104   54,289,237 311,631 SH   SOLE   311,631 0 0
Berkshire Hathaway Inc Del CL B NEW 084670702   57,878,691 137,636 SH   SOLE   137,636 0 0
Tractor Supply Co COM 892356106   64,211,955 245,346 SH   SOLE   245,346 0 0
Gallagher Arthur J & Co COM 363576109   322,551,850 1,290,001 SH   SOLE   1,290,001 0 0
WATERS CORP COM 941848103   104,428,711 303,369 SH   SOLE   303,369 0 0
Microsoft Corp COM 594918104   709,085,695 1,685,410 SH   SOLE   1,685,410 0 0
Thermo Fisher Scientific Inc COM 883556102   168,620,645 290,120 SH   SOLE   290,120 0 0
EOG Res Inc COM 26875P101   273,259,151 2,137,509 SH   SOLE   2,137,509 0 0
United Rentals Inc COM 911363109   234,026,155 324,536 SH   SOLE   324,536 0 0
Intuit COM 461202103   259,119,250 398,645 SH   SOLE   398,645 0 0
Autodesk Inc COM 052769106   146,251,612 561,599 SH   SOLE   561,599 0 0
Unitedhealth Group Inc COM 91324P102   281,991,862 570,026 SH   SOLE   570,026 0 0
Ecolab Inc COM 278865100   104,340,016 451,884 SH   SOLE   451,884 0 0
Pool Corp COM 73278L105   101,671,913 251,975 SH   SOLE   251,975 0 0
Nvidia Corporation COM 67066G104   484,767,168 536,508 SH   SOLE   536,508 0 0
MEDPACE HLDGS INC COM 58506Q109   90,246,695 223,300 SH   SOLE   223,300 0 0
GFL ENVIRONMENTAL INC SUB VTG SHS 36168Q104   35,686,283 1,034,385 SH   SOLE   1,034,385 0 0
CRH PLC ORD G25508105   141,838,267 1,644,311 SH   SOLE   1,644,311 0 0
MSCI Inc COM 55354G100   114,836,205 204,900 SH   SOLE   204,900 0 0
ILLUMINA INC COM 452327109   100,120,012 729,100 SH   SOLE   729,100 0 0