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
Estimated average burden
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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
AFFILIATED MANAGERS GROUP IN COM 008252108   14,524,546 91,678 SH   SOLE   91,678 0 0
ALLSTATE CORP COM 020002101   10,854,780 80,050 SH   SOLE   80,050 0 0
AMERICAN EXPRESS CO COM 025816109   8,222,731 55,653 SH   SOLE   55,653 0 0
AMERICAN FINL GROUP INC OHIO COM 025932104   292,269 2,129 SH   SOLE   2,129 0 0
AMERICAN INTL GROUP INC COM NEW 026874784   80,574,210 1,274,102 SH   SOLE   1,274,102 0 0
AMERIPRISE FINL INC COM 03076C106   9,241,462 29,680 SH   SOLE   29,680 0 0
AON PLC SHS CL A G0403H108   23,052,253 76,805 SH   SOLE   76,805 0 0
APOLLO GLOBAL MGMT INC COM 03769M106   3,305,534 51,819 SH   SOLE   51,819 0 0
ARES MANAGEMENT CORPORATION CL A COM STK 03990B101   5,831,430 85,205 SH   SOLE   85,205 0 0
BANK AMERICA CORP COM 060505104   51,105,419 1,543,038 SH   SOLE   1,543,038 0 0
BANK NEW YORK MELLON CORP COM 064058100   19,746,485 433,798 SH   SOLE   433,798 0 0
BGC PARTNERS INC CL A 05541T101   357,950 94,947 SH   SOLE   94,947 0 0
BILL COM HLDGS INC COM 090043100   371,554 3,410 SH   SOLE   3,410 0 0
BLACK KNIGHT INC COM 09215C105   1,766,544 28,608 SH   SOLE   28,608 0 0
BLACKROCK INC COM 09247X101   47,001,302 66,327 SH   SOLE   66,327 0 0
BLOCK INC CL A 852234103   2,128,642 33,874 SH   SOLE   33,874 0 0
BROADRIDGE FINL SOLUTIONS IN COM 11133T103   4,332,801 32,303 SH   SOLE   32,303 0 0
BROWN & BROWN INC COM 115236101   27,413,793 481,197 SH   SOLE   481,197 0 0
CAPITAL ONE FINL CORP COM 14040H105   2,508,619 26,986 SH   SOLE   26,986 0 0
CARLYLE GROUP INC COM 14316J108   2,088,651 69,995 SH   SOLE   69,995 0 0
CBOE GLOBAL MKTS INC COM 12503M108   22,179,332 176,770 SH   SOLE   176,770 0 0
CENTENE CORP DEL COM 15135B101   17,354,710 211,617 SH   SOLE   211,617 0 0
CHUBB LIMITED COM H1467J104   1,492,359 6,765 SH   SOLE   6,765 0 0
CIGNA CORP NEW COM 125523100   7,437,589 22,447 SH   SOLE   22,447 0 0
CITIGROUP INC COM NEW 172967424   17,770,596 392,894 SH   SOLE   392,894 0 0
CITIZENS FINL GROUP INC COM 174610105   17,395,792 441,854 SH   SOLE   441,854 0 0
CME GROUP INC COM 12572Q105   12,777,469 75,984 SH   SOLE   75,984 0 0
CNA FINL CORP COM 126117100   977,218 23,113 SH   SOLE   23,113 0 0
COMERICA INC COM 200340107   3,578,681 53,533 SH   SOLE   53,533 0 0
COREBRIDGE FINL INC COM 21871X109   12,213,732 608,860 SH   SOLE   608,860 0 0
COSTAR GROUP INC COM 22160N109   341,037 4,413 SH   SOLE   4,413 0 0
CVS HEALTH CORP COM 126650100   12,629,482 135,524 SH   SOLE   135,524 0 0
DANAHER CORPORATION COM 235851102   575,165 2,167 SH   SOLE   2,167 0 0
DUN & BRADSTREET HLDGS INC COM 26484T106   386,349 31,513 SH   SOLE   31,513 0 0
ECOLAB INC COM 278865100   645,995 4,438 SH   SOLE   4,438 0 0
ELEVANCE HEALTH INC COM 036752103   29,234,673 56,991 SH   SOLE   56,991 0 0
EQUITABLE HLDGS INC COM 29452E101   9,622,967 335,295 SH   SOLE   335,295 0 0
EVEREST RE GROUP LTD COM G3223R108   51,535,343 155,569 SH   SOLE   155,569 0 0
FACTSET RESH SYS INC COM 303075105   4,350,721 10,844 SH   SOLE   10,844 0 0
FEDERATED HERMES INC CL B 314211103   655,432 18,051 SH   SOLE   18,051 0 0
FIDELITY NATL INFORMATION SV COM 31620M106   1,746,934 25,747 SH   SOLE   25,747 0 0
FLEETCOR TECHNOLOGIES INC COM 339041105   17,646,138 96,070 SH   SOLE   96,070 0 0
FRANKLIN RESOURCES INC COM 354613101   5,123,840 194,232 SH   SOLE   194,232 0 0
GLOBAL PMTS INC COM 37940X102   14,084,569 141,810 SH   SOLE   141,810 0 0
GLOBE LIFE INC COM 37959E102   16,605,401 137,747 SH   SOLE   137,747 0 0
GUIDEWIRE SOFTWARE INC COM 40171V100   1,582,017 25,288 SH   SOLE   25,288 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104   24,093,769 317,734 SH   SOLE   317,734 0 0
HENRY JACK & ASSOC INC COM 426281101   6,353,165 36,188 SH   SOLE   36,188 0 0
HOULIHAN LOKEY INC CL A 441593100   2,823,374 32,393 SH   SOLE   32,393 0 0
INTERACTIVE BROKERS GROUP IN COM CL A 45841N107   28,155,581 389,158 SH   SOLE   389,158 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104   35,511,323 346,148 SH   SOLE   346,148 0 0
INTUIT COM 461202103   20,919,407 53,747 SH   SOLE   53,747 0 0
JONES LANG LASALLE INC COM 48020Q107   9,009,027 56,529 SH   SOLE   56,529 0 0
KEYCORP COM 493267108   59,592,723 3,420,937 SH   SOLE   3,420,937 0 0
LOWES COS INC COM 548661107   9,613,330 48,250 SH   SOLE   48,250 0 0
MARKEL CORP COM 570535104   13,776,993 10,457 SH   SOLE   10,457 0 0
MEDTRONIC PLC SHS G5960L103   241,631 3,109 SH   SOLE   3,109 0 0
MOODYS CORP COM 615369105   18,832,204 67,591 SH   SOLE   67,591 0 0
NASDAQ INC COM 631103108   1,123,871 18,319 SH   SOLE   18,319 0 0
NORTHERN TR CORP COM 665859104   2,089,603 23,614 SH   SOLE   23,614 0 0
PAYCHEX INC COM 704326107   10,261,266 88,796 SH   SOLE   88,796 0 0
PAYPAL HLDGS INC COM 70450Y103   11,089,310 155,705 SH   SOLE   155,705 0 0
PJT PARTNERS INC COM CL A 69343T107   824,444 11,188 SH   SOLE   11,188 0 0
PRIMERICA INC COM 74164M108   660,030 4,654 SH   SOLE   4,654 0 0
PULTE GROUP INC COM 745867101   24,601,453 540,335 SH   SOLE   540,335 0 0
REINSURANCE GRP OF AMERICA I COM NEW 759351604   21,508,447 151,372 SH   SOLE   151,372 0 0
RENAISSANCERE HLDGS LTD COM G7496G103   10,936,261 59,362 SH   SOLE   59,362 0 0
ROCKET COS INC COM CL A 77311W101   2,046,107 292,301 SH   SOLE   292,301 0 0
S&P GLOBAL INC COM 78409V104   13,513,824 40,347 SH   SOLE   40,347 0 0
SCHWAB CHARLES CORP COM 808513105   9,893,703 118,829 SH   SOLE   118,829 0 0
SERVICENOW INC COM 81762P102   916,705 2,361 SH   SOLE   2,361 0 0
SIMON PPTY GROUP INC NEW COM 828806109   7,291,749 62,068 SH   SOLE   62,068 0 0
STATE STR CORP COM 857477103   10,869,031 140,119 SH   SOLE   140,119 0 0
TARGET CORP COM 87612E106   1,491,890 10,010 SH   SOLE   10,010 0 0
THOMSON REUTERS CORP. COM NEW 884903709   12,765,117 111,906 SH   SOLE   111,906 0 0
TOAST INC CL A 888787108   398,409 22,097 SH   SOLE   22,097 0 0
TRADEWEB MKTS INC CL A 892672106   11,010,635 169,577 SH   SOLE   169,577 0 0
TRANSUNION COM 89400J107   9,946,402 175,267 SH   SOLE   175,267 0 0
TRINET GROUP INC COM 896288107   7,701,673 113,594 SH   SOLE   113,594 0 0
TRUIST FINL CORP COM 89832Q109   89,168,961 2,072,251 SH   SOLE   2,072,251 0 0
UNION PAC CORP COM 907818108   848,573 4,098 SH   SOLE   4,098 0 0
UNUM GROUP COM 91529Y106   2,447,152 59,643 SH   SOLE   59,643 0 0
US BANCORP DEL COM NEW 902973304   66,730,365 1,530,162 SH   SOLE   1,530,162 0 0
VERISK ANALYTICS INC COM 92345Y106   31,006,697 175,755 SH   SOLE   175,755 0 0
VISA INC COM CL A 92826C839   33,992,029 163,612 SH   SOLE   163,612 0 0
VOYA FINANCIAL INC COM 929089100   24,213,840 393,785 SH   SOLE   393,785 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108   10,511,498 281,357 SH   SOLE   281,357 0 0
WELLS FARGO CO NEW COM 949746101   14,885,251 360,505 SH   SOLE   360,505 0 0
WILLIS TOWERS WATSON PLC LTD SHS G96629103   34,158,777 139,663 SH   SOLE   139,663 0 0
WORKDAY INC CL A 98138H101   412,468 2,465 SH   SOLE   2,465 0 0