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 | 15,957 | 5,737 | SH | DFND | 1 | 5,737 | 0 | 0 | |
| AMERICAN FINL GROUP INC OHIO | COM | 025932104 | 15,630 | 107,331 | SH | DFND | 1 | 107,331 | 0 | 0 | |
| ANSYS INC | COM | 03662Q105 | 7,828 | 24,644 | SH | DFND | 1 | 24,644 | 0 | 0 | |
| AON PLC | SHS CL A | G0403H108 | 14,657 | 45,012 | SH | DFND | 1 | 45,012 | 0 | 0 | |
| CANADIAN PAC RY LTD | COM | 13645T100 | 12,122 | 146,855 | SH | DFND | 1 | 146,855 | 0 | 0 | |
| CDW CORP | COM | 12514G108 | 2,836 | 15,854 | SH | DFND | 1 | 15,854 | 0 | 0 | |
| DANAHER CORPORATION | COM | 235851102 | 8,252 | 28,132 | SH | DFND | 1 | 28,132 | 0 | 0 | |
| DESCARTES SYS GROUP INC | COM | 249906108 | 6,079 | 82,984 | SH | DFND | 1 | 82,984 | 0 | 0 | |
| ICON PLC | SHS | G4705A100 | 15,958 | 65,612 | SH | DFND | 1 | 65,612 | 0 | 0 | |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 | 14,343 | 108,558 | SH | DFND | 1 | 108,558 | 0 | 0 | |
| INTUIT | COM | 461202103 | 7,903 | 16,436 | SH | DFND | 1 | 16,436 | 0 | 0 | |
| IQVIA HLDGS INC | COM | 46266C105 | 6,393 | 27,650 | SH | DFND | 1 | 27,650 | 0 | 0 | |
| LENNOX INTL INC | COM | 526107107 | 3,954 | 15,333 | SH | DFND | 1 | 15,333 | 0 | 0 | |
| MARSH & MCLENNAN COS INC | COM | 571748102 | 14,570 | 85,496 | SH | DFND | 1 | 85,496 | 0 | 0 | |
| MASTERCARD INCORPORATED | CL A | 57636Q104 | 5,408 | 15,133 | SH | DFND | 1 | 15,133 | 0 | 0 | |
| MICROSOFT CORP | COM | 594918104 | 14,597 | 47,346 | SH | DFND | 1 | 47,346 | 0 | 0 | |
| MSCI INC | COM | 55354G100 | 10,373 | 20,627 | SH | DFND | 1 | 20,627 | 0 | 0 | |
| NASDAQ INC | COM | 631103108 | 2,861 | 16,056 | SH | DFND | 1 | 16,056 | 0 | 0 | |
| ROPER TECHNOLOGIES INC | COM | 776696106 | 2,895 | 6,131 | SH | DFND | 1 | 6,131 | 0 | 0 | |
| S&P GLOBAL INC | COM | 78409V104 | 14,700 | 35,839 | SH | DFND | 1 | 35,839 | 0 | 0 | |
| SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 12,983 | 28,747 | SH | DFND | 1 | 28,747 | 0 | 0 | |
| THOMSON REUTERS CORP. | COM NEW | 884903709 | 2,911 | 26,746 | SH | DFND | 1 | 26,746 | 0 | 0 | |
| TORO CO | COM | 891092108 | 2,504 | 29,288 | SH | DFND | 1 | 29,288 | 0 | 0 | |
| TYLER TECHNOLOGIES INC | COM | 902252105 | 3,966 | 8,915 | SH | DFND | 1 | 8,915 | 0 | 0 | |
| UNION PAC CORP | COM | 907818108 | 8,913 | 32,623 | SH | DFND | 1 | 32,623 | 0 | 0 | |
| VERISK ANALYTICS INC | COM | 92345Y106 | 3,283 | 15,298 | SH | DFND | 1 | 15,298 | 0 | 0 | |
| VISA INC | COM CL A | 92826C839 | 5,388 | 24,296 | SH | DFND | 1 | 24,296 | 0 | 0 | |
| WASTE CONNECTIONS INC | COM | 94106B101 | 14,893 | 106,609 | SH | DFND | 1 | 106,609 | 0 | 0 | |