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 | 14,900 | 7,224 | SH | DFND | 1 | 7,224 | 0 | 0 | |
| AMERICAN FINL GROUP INC OHIO | COM | 025932104 | 3,576 | 31,341 | SH | DFND | 1 | 31,341 | 0 | 0 | |
| ANSYS INC | COM | 03662Q105 | 3,199 | 9,422 | SH | DFND | 1 | 9,422 | 0 | 0 | |
| AON PLC | SHS CL A | G0403H108 | 14,601 | 63,453 | SH | DFND | 1 | 63,453 | 0 | 0 | |
| AUTODESK INC | COM | 052769106 | 2,572 | 9,281 | SH | DFND | 1 | 9,281 | 0 | 0 | |
| BLACK KNIGHT INC | COM | 09215C105 | 3,116 | 42,117 | SH | DFND | 1 | 42,117 | 0 | 0 | |
| CANADIAN PAC RY LTD | COM | 13645T100 | 15,184 | 31,634 | SH | DFND | 1 | 31,634 | 0 | 0 | |
| DESCARTES SYS GROUP INC | COM | 249906108 | 11,098 | 182,205 | SH | DFND | 1 | 182,205 | 0 | 0 | |
| FISERV INC | COM | 337738108 | 9,305 | 78,170 | SH | DFND | 1 | 78,170 | 0 | 0 | |
| HDFC BANK LTD | SPONSORED ADS | 40415F101 | 2,464 | 31,713 | SH | DFND | 1 | 31,713 | 0 | 0 | |
| IHS MARKIT LTD | SHS | G47567105 | 5,414 | 55,940 | SH | DFND | 1 | 55,940 | 0 | 0 | |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 | 15,202 | 136,120 | SH | DFND | 1 | 136,120 | 0 | 0 | |
| LENNOX INTL INC | COM | 526107107 | 10,896 | 34,970 | SH | DFND | 1 | 34,970 | 0 | 0 | |
| MARSH & MCLENNAN COS INC | COM | 571748102 | 15,583 | 127,942 | SH | DFND | 1 | 127,942 | 0 | 0 | |
| MASTERCARD INCORPORATED | CL A | 57636Q104 | 21,834 | 61,323 | SH | DFND | 1 | 61,323 | 0 | 0 | |
| MSCI INC | COM | 55354G100 | 11,037 | 26,324 | SH | DFND | 1 | 26,324 | 0 | 0 | |
| ROLLINS INC | COM | 775711104 | 696 | 20,214 | SH | DFND | 1 | 20,214 | 0 | 0 | |
| ROPER TECHNOLOGIES INC | COM | 776696106 | 3,768 | 9,343 | SH | DFND | 1 | 9,343 | 0 | 0 | |
| S&P GLOBAL INC | COM | 78409V104 | 12,445 | 35,267 | SH | DFND | 1 | 35,267 | 0 | 0 | |
| SOTERA HEALTH CO | COM | 83601L102 | 8,662 | 332,900 | SH | DFND | 1 | 332,900 | 0 | 0 | |
| SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 21,125 | 53,302 | SH | DFND | 1 | 53,302 | 0 | 0 | |
| THOMSON REUTERS CORP. | COM NEW | 884903709 | 2,440 | 27,860 | SH | DFND | 1 | 27,860 | 0 | 0 | |
| TORO CO | COM | 891092108 | 11,534 | 111,830 | SH | DFND | 1 | 111,830 | 0 | 0 | |
| TRANSUNION | COM | 89400J107 | 15,705 | 162,908 | SH | DFND | 1 | 162,908 | 0 | 0 | |
| TYLER TECHNOLOGIES INC | COM | 902252105 | 2,568 | 6,050 | SH | DFND | 1 | 6,050 | 0 | 0 | |
| UNION PAC CORP | COM | 907818108 | 10,852 | 49,237 | SH | DFND | 1 | 49,237 | 0 | 0 | |
| VERISK ANALYTICS INC | COM | 92345Y106 | 7,980 | 45,163 | SH | DFND | 1 | 45,163 | 0 | 0 | |
| VISA INC | COM CL A | 92826C839 | 21,795 | 102,936 | SH | DFND | 1 | 102,936 | 0 | 0 | |
| WASTE CONNECTIONS INC | COM | 94106B101 | 14,892 | 137,919 | SH | DFND | 1 | 137,919 | 0 | 0 | |