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 | 2,524 | 5,500,452 | SH | DFND | 1 | 5,500,452 | 0 | 0 | |
| AMERICAN FINL GROUP INC OHIO | COM | 025932104 | 40,398 | 5,607,646 | SH | DFND | 1 | 5,607,646 | 0 | 0 | |
| ANSYS INC | COM | 03662Q105 | 9,621 | 2,302,209 | SH | DFND | 1 | 2,302,209 | 0 | 0 | |
| AON PLC | SHS CL A | G0403H108 | 13,961 | 3,765,002 | SH | DFND | 1 | 3,765,002 | 0 | 0 | |
| CANADIAN PAC RY LTD | COM | 13645T100 | 77,602 | 5,442,213 | SH | DFND | 1 | 5,442,213 | 0 | 0 | |
| CARLISLE COS INC | COM | 142339100 | 22,818 | 5,444,603 | SH | DFND | 1 | 5,444,603 | 0 | 0 | |
| DANAHER CORPORATION | COM | 235851102 | 15,601 | 3,955,166 | SH | DFND | 1 | 3,955,166 | 0 | 0 | |
| DESCARTES SYS GROUP INC | COM | 249906108 | 41,549 | 2,578,531 | SH | DFND | 1 | 2,578,531 | 0 | 0 | |
| GALLAGHER ARTHUR J & CO | COM | 363576109 | 22,862 | 3,727,420 | SH | DFND | 1 | 3,727,420 | 0 | 0 | |
| ICON PLC | SHS | G4705A100 | 28,866 | 6,255,262 | SH | DFND | 1 | 6,255,262 | 0 | 0 | |
| INTUIT | COM | 461202103 | 11,837 | 4,562,453 | SH | DFND | 1 | 4,562,453 | 0 | 0 | |
| IQVIA HLDGS INC | COM | 46266C105 | 18,667 | 4,050,552 | SH | DFND | 1 | 4,050,552 | 0 | 0 | |
| MARSH & MCLENNAN COS INC | COM | 571748102 | 23,935 | 3,715,909 | SH | DFND | 1 | 3,715,909 | 0 | 0 | |
| MASTERCARD INCORPORATED | CL A | 57636Q104 | 15,500 | 4,889,940 | SH | DFND | 1 | 4,889,940 | 0 | 0 | |
| MICROSOFT CORP | COM | 594918104 | 21,263 | 5,460,976 | SH | DFND | 1 | 5,460,976 | 0 | 0 | |
| MSCI INC | COM | 55354G100 | 9,508 | 3,918,722 | SH | DFND | 1 | 3,918,722 | 0 | 0 | |
| S&P GLOBAL INC | COM | 78409V104 | 16,528 | 5,570,928 | SH | DFND | 1 | 5,570,928 | 0 | 0 | |
| SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 21,161 | 7,982,987 | SH | DFND | 1 | 7,982,987 | 0 | 0 | |
| THOMSON REUTERS CORP. | COM NEW | 884903709 | 25,280 | 2,634,429 | SH | DFND | 1 | 2,634,429 | 0 | 0 | |
| TYLER TECHNOLOGIES INC | COM | 902252105 | 7,028 | 2,336,669 | SH | DFND | 1 | 2,336,669 | 0 | 0 | |
| UNION PAC CORP | COM | 907818108 | 11,963 | 2,551,469 | SH | DFND | 1 | 2,551,469 | 0 | 0 | |
| VISA INC | COM CL A | 92826C839 | 25,556 | 5,031,721 | SH | DFND | 1 | 5,031,721 | 0 | 0 | |
| WASTE CONNECTIONS INC | COM | 94106B101 | 44,612 | 5,530,104 | SH | DFND | 1 | 5,530,104 | 0 | 0 | |