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
ALPHABET INC CAP STK CL A 02079K305   726,110 7,000 SH   DFND 1 0 7,000 0
ALPHABET INC CAP STK CL A 02079K305   256,850,002 2,476,140 SH   DFND 1 0 2,476,140 0
ALPHABET INC CAP STK CL C 02079K107   178,412,000 1,715,500 SH   DFND 1 0 1,715,500 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108   139,680,000 300 SH   DFND 1 0 300 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   9,812,711 31,780 SH   DFND 1 0 31,780 0
BIONTECH SE SPONSORED ADS 09075V102   373,710 3,000 SH   DFND 1 0 3,000 0
CARVANA CO CL A 146869102   4,160,750 425,000 SH   DFND 1 0 425,000 0
CREDIT ACCEP CORP MICH COM 225310101   50,671,336 116,208 SH   DFND 1 0 116,208 0
FERGUSON PLC NEW SHS G3421J106   5,350,000 40,000 SH   DFND 1 0 40,000 0
INTERACTIVE BROKERS GROUP IN COM CL A 45841N107   12,384,000 150,000 SH   DFND 1 0 150,000 0
INTERACTIVE BROKERS GROUP IN COM CL A 45841N107   996,829 12,074 SH   DFND 1 0 12,074 0
MARKEL CORP COM 570535104   2,969,978 2,325 SH   DFND 1 0 2,325 0
MERCADOLIBRE INC COM 58733R102   922,642 700 SH   DFND 1 0 700 0
MERCADOLIBRE INC COM 58733R102   2,570,217 1,950 SH   DFND 1 0 1,950 0
META PLATFORMS INC CL A 30303M102   36,877,560 174,000 SH   DFND 1 0 174,000 0
MICROSOFT CORP COM 594918104   223,000,050 773,500 SH   DFND 1 0 773,500 0
MICROSOFT CORP COM 594918104   1,066,710 3,700 SH   DFND 1 0 3,700 0
NU HLDGS LTD ORD SHS CL A G6683N103   571,200 120,000 SH   DFND 1 0 120,000 0
PAYPAL HLDGS INC COM 70450Y103   1,898,500 25,000 SH   DFND 1 0 25,000 0
SALESFORCE INC COM 79466L302   29,073,584 145,528 SH   DFND 1 0 145,528 0
SPOTIFY TECHNOLOGY S A SHS L8681T102   2,471,970 18,500 SH   DFND 1 0 18,500 0
SPOTIFY TECHNOLOGY S A SHS L8681T102   1,670,250 12,500 SH   DFND 1 0 12,500 0
STONECO LTD COM CL A G85158106   810,900 85,000 SH   DFND 1 0 85,000 0
TUCOWS INC COM NEW 898697206   2,914,500 150,000 SH   DFND 1 0 150,000 0
TUCOWS INC COM NEW 898697206   3,108,800 160,000 SH   DFND 1 0 160,000 0
TUCOWS INC COM NEW 898697206   1,245,463 64,100 SH   DFND 1 0 64,100 0
TUCOWS INC COM NEW 898697206   27,463,120 1,413,439 SH   DFND 1 0 1,413,439 0
WIX COM LTD SHS M98068105   24,950,000 250,000 SH   DFND 1 0 250,000 0