The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||||||
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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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 | (x$1000) | PRN AMT | PRN | CALL | DISCRETION | MANAGER | SOLE | SHARED | NONE |
| ALPHABET INC | CAP STK CL A | 02079K305 | 16,825 | 11,865 | SH | DFND | 1 | 11,865 | 0 | 0 | |
| AON PLC | SHS CL A | G0408V102 | 17,052 | 88,535 | SH | DFND | 1 | 88,535 | 0 | 0 | |
| BLACK KNIGHT INC | COM | 09215C105 | 16,951 | 233,615 | SH | DFND | 1 | 233,615 | 0 | 0 | |
| CANADIAN PAC RY LTD | COM | 13645T100 | 11,935 | 46,923 | SH | DFND | 1 | 46,923 | 0 | 0 | |
| DESCARTES SYS GROUP INC | COM | 249906108 | 2,133 | 40,312 | SH | DFND | 1 | 40,312 | 0 | 0 | |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 | 3,353 | 25,009 | SH | DFND | 1 | 25,009 | 0 | 0 | |
| FISERV INC | COM | 337738108 | 10,469 | 107,240 | SH | DFND | 1 | 107,240 | 0 | 0 | |
| HENRY JACK & ASSOC INC | COM | 426281101 | 17,197 | 93,449 | SH | DFND | 1 | 93,449 | 0 | 0 | |
| IHS MARKIT LTD | SHS | G47567105 | 4,051 | 53,660 | SH | DFND | 1 | 53,660 | 0 | 0 | |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 | 17,148 | 187,207 | SH | DFND | 1 | 187,207 | 0 | 0 | |
| LENNOX INTL INC | COM | 526107107 | 9,999 | 42,915 | SH | DFND | 1 | 42,915 | 0 | 0 | |
| MARSH & MCLENNAN COS INC | COM | 571748102 | 17,186 | 160,065 | SH | DFND | 1 | 160,065 | 0 | 0 | |
| MASTERCARD INCORPORATED | CL A | 57636Q104 | 22,501 | 76,094 | SH | DFND | 1 | 76,094 | 0 | 0 | |
| MSCI INC | COM | 55354G100 | 11,996 | 35,937 | SH | DFND | 1 | 35,937 | 0 | 0 | |
| ROLLINS INC | COM | 775711104 | 12,449 | 293,678 | SH | DFND | 1 | 293,678 | 0 | 0 | |
| ROPER TECHNOLOGIES INC | COM | 776696106 | 9,533 | 25,494 | SH | DFND | 1 | 25,494 | 0 | 0 | |
| S&P GLOBAL INC | COM | 78409V104 | 20,209 | 61,336 | SH | DFND | 1 | 61,336 | 0 | 0 | |
| SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 29,108 | 94,396 | SH | DFND | 1 | 94,396 | 0 | 0 | |
| TORO CO | COM | 891092108 | 5,452 | 82,180 | SH | DFND | 1 | 82,180 | 0 | 0 | |
| TRANSUNION | COM | 89400J107 | 12,069 | 138,664 | SH | DFND | 1 | 138,664 | 0 | 0 | |
| TYLER TECHNOLOGIES INC | COM | 902252105 | 2,336 | 6,734 | SH | DFND | 1 | 6,734 | 0 | 0 | |
| UNION PAC CORP | COM | 907818108 | 12,065 | 71,363 | SH | DFND | 1 | 71,363 | 0 | 0 | |
| VISA INC | COM CL A | 92826C839 | 22,490 | 116,427 | SH | DFND | 1 | 116,427 | 0 | 0 | |