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
CHURCHILL DOWNS INC COM 171484108 BBG001S67Z80 120,804,116 865,359 SH   SOLE   865,359 0 0
GILDAN ACTIVEWEAR INC COM 375916103 BBG001S7JJL6 32,025,829 844,563 SH   SOLE   844,563 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 BBG0058KMH49 36,350,374 166,592 SH   SOLE   166,592 0 0
INTERACTIVE BROKERS GROUP IN COM CL A 45841N107 BBG001SQ4YC7 50,153,453 409,082 SH   SOLE   409,082 0 0
KBR INC COM 48242W106 BBG001SP11V3 45,057,901 702,493 SH   SOLE   702,493 0 0
KKR & CO INC COM 48251W104 BBG001S6PW05 120,855,406 1,148,379 SH   SOLE   1,148,379 0 0
PROGRESSIVE CORP COM 743315103 BBG001S5V509 31,465,988 151,490 SH   SOLE   151,490 0 0
S&P GLOBAL INC COM 78409V104 BBG001S5T5M8 47,390,176 106,256 SH   SOLE   106,256 0 0
SPOTIFY TECHNOLOGY S A SHS L8681T102 BBG003T4VFD1 18,011,232 57,399 SH   SOLE   57,399 0 0
SS&C TECHNOLOGIES HLDGS INC COM 78467J100 BBG001STPPK8 46,384,574 740,140 SH   SOLE   740,140 0 0
TEMPUR SEALY INTL INC COM 88023U101 BBG001SH81D4 49,888,312 1,053,830 SH   SOLE   1,053,830 0 0
TRANSDIGM GROUP INC COM 893641100 BBG001SPV1C1 68,021,234 53,241 SH   SOLE   53,241 0 0
TYLER TECHNOLOGIES INC COM 902252105 BBG001S5WZB0 33,602,296 66,833 SH   SOLE   66,833 0 0
VISA INC COM CL A 92826C839 BBG001SRCFY3 24,329,132 92,693 SH   SOLE   92,693 0 0