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 | 17,656 | 6,604 | SH | DFND | 1 | 6,604 | 0 | 0 | |
| AMERICAN FINL GROUP INC OHIO | COM | 025932104 | 15,428 | 122,612 | SH | DFND | 1 | 122,612 | 0 | 0 | |
| ANSYS INC | COM | 03662Q105 | 8,331 | 24,472 | SH | DFND | 1 | 24,472 | 0 | 0 | |
| AON PLC | SHS CL A | G0403H108 | 16,547 | 57,904 | SH | DFND | 1 | 57,904 | 0 | 0 | |
| AUTODESK INC | COM | 052769106 | 4,738 | 16,615 | SH | DFND | 1 | 16,615 | 0 | 0 | |
| BLACK KNIGHT INC | COM | 09215C105 | 5,546 | 77,034 | SH | DFND | 1 | 77,034 | 0 | 0 | |
| CANADIAN PAC RY LTD | COM | 13645T100 | 11,023 | 170,861 | SH | DFND | 1 | 170,861 | 0 | 0 | |
| DESCARTES SYS GROUP INC | COM | 249906108 | 16,214 | 199,533 | SH | DFND | 1 | 199,533 | 0 | 0 | |
| FISERV INC | COM | 337738108 | 3,733 | 34,403 | SH | DFND | 1 | 34,403 | 0 | 0 | |
| HDFC BANK LTD | SPONSORED ADS | 40415F101 | 2,890 | 39,546 | SH | DFND | 1 | 39,546 | 0 | 0 | |
| ICON PLC | SHS | G4705A100 | 11,342 | 43,287 | SH | DFND | 1 | 43,287 | 0 | 0 | |
| IHS MARKIT LTD | SHS | G47567105 | 3,446 | 29,546 | SH | DFND | 1 | 29,546 | 0 | 0 | |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 | 13,879 | 120,878 | SH | DFND | 1 | 120,878 | 0 | 0 | |
| INTUIT | COM | 461202103 | 10,204 | 18,913 | SH | DFND | 1 | 18,913 | 0 | 0 | |
| IQVIA HLDGS INC | COM | 46266C105 | 7,638 | 31,885 | SH | DFND | 1 | 31,885 | 0 | 0 | |
| LENNOX INTL INC | COM | 526107107 | 4,052 | 13,774 | SH | DFND | 1 | 13,774 | 0 | 0 | |
| MARSH & MCLENNAN COS INC | COM | 571748102 | 16,088 | 106,240 | SH | DFND | 1 | 106,240 | 0 | 0 | |
| MASTERCARD INCORPORATED | CL A | 57636Q104 | 5,935 | 17,071 | SH | DFND | 1 | 17,071 | 0 | 0 | |
| MICROSOFT CORP | COM | 594918104 | 15,894 | 56,379 | SH | DFND | 1 | 56,379 | 0 | 0 | |
| MSCI INC | COM | 55354G100 | 11,531 | 18,955 | SH | DFND | 1 | 18,955 | 0 | 0 | |
| NASDAQ INC | COM | 631103108 | 4,392 | 22,752 | SH | DFND | 1 | 22,752 | 0 | 0 | |
| ROLLINS INC | COM | 775711104 | 2,413 | 68,300 | SH | DFND | 1 | 68,300 | 0 | 0 | |
| ROPER TECHNOLOGIES INC | COM | 776696106 | 5,081 | 11,388 | SH | DFND | 1 | 11,388 | 0 | 0 | |
| S&P GLOBAL INC | COM | 78409V104 | 15,837 | 37,274 | SH | DFND | 1 | 37,274 | 0 | 0 | |
| SOTERA HEALTH CO | COM | 83601L102 | 3,293 | 125,945 | SH | DFND | 1 | 125,945 | 0 | 0 | |
| SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 22,736 | 52,981 | SH | DFND | 1 | 52,981 | 0 | 0 | |
| THOMSON REUTERS CORP. | COM NEW | 884903709 | 2,932 | 26,535 | SH | DFND | 1 | 26,535 | 0 | 0 | |
| TORO CO | COM | 891092108 | 4,346 | 44,618 | SH | DFND | 1 | 44,618 | 0 | 0 | |
| TRANSUNION | COM | 89400J107 | 5,838 | 51,980 | SH | DFND | 1 | 51,980 | 0 | 0 | |
| TYLER TECHNOLOGIES INC | COM | 902252105 | 7,961 | 17,357 | SH | DFND | 1 | 17,357 | 0 | 0 | |
| UNION PAC CORP | COM | 907818108 | 2,761 | 14,085 | SH | DFND | 1 | 14,085 | 0 | 0 | |
| VERISK ANALYTICS INC | COM | 92345Y106 | 7,400 | 36,952 | SH | DFND | 1 | 36,952 | 0 | 0 | |
| VISA INC | COM CL A | 92826C839 | 5,806 | 26,064 | SH | DFND | 1 | 26,064 | 0 | 0 | |
| WASTE CONNECTIONS INC | COM | 94106B101 | 16,238 | 128,948 | SH | DFND | 1 | 128,948 | 0 | 0 | |