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 | 8,351 | 87,306 | SH | DFND | 1 | 87,306 | 0 | 0 | |
| AMERICAN FINL GROUP INC OHIO | COM | 025932104 | 8,343 | 67,868 | SH | DFND | 1 | 67,868 | 0 | 0 | |
| ANSYS INC | COM | 03662Q105 | 3,052 | 13,765 | SH | DFND | 1 | 13,765 | 0 | 0 | |
| AON PLC | SHS CL A | G0403H108 | 5,604 | 20,919 | SH | DFND | 1 | 20,919 | 0 | 0 | |
| CANADIAN PAC RY LTD | COM | 13645T100 | 8,243 | 123,474 | SH | DFND | 1 | 123,474 | 0 | 0 | |
| CARLISLE COS INC | COM | 142339100 | 8,401 | 29,961 | SH | DFND | 1 | 29,961 | 0 | 0 | |
| DANAHER CORPORATION | COM | 235851102 | 8,351 | 32,331 | SH | DFND | 1 | 32,331 | 0 | 0 | |
| DESCARTES SYS GROUP INC | COM | 249906108 | 2,283 | 35,938 | SH | DFND | 1 | 35,938 | 0 | 0 | |
| FIRSTSERVICE CORP NEW | COM | 33767E202 | 2,367 | 19,887 | SH | DFND | 1 | 19,887 | 0 | 0 | |
| GALLAGHER ARTHUR J & CO | COM | 363576109 | 5,646 | 32,974 | SH | DFND | 1 | 32,974 | 0 | 0 | |
| ICON PLC | SHS | G4705A100 | 6,693 | 36,417 | SH | DFND | 1 | 36,417 | 0 | 0 | |
| INTUIT | COM | 461202103 | 3,583 | 9,250 | SH | DFND | 1 | 9,250 | 0 | 0 | |
| IQVIA HLDGS INC | COM | 46266C105 | 3,532 | 19,496 | SH | DFND | 1 | 19,496 | 0 | 0 | |
| MARSH & MCLENNAN COS INC | COM | 571748102 | 5,609 | 37,571 | SH | DFND | 1 | 37,571 | 0 | 0 | |
| MASTERCARD INCORPORATED | CL A | 57636Q104 | 4,555 | 16,018 | SH | DFND | 1 | 16,018 | 0 | 0 | |
| MICROSOFT CORP | COM | 594918104 | 9,062 | 38,911 | SH | DFND | 1 | 38,911 | 0 | 0 | |
| MSCI INC | COM | 55354G100 | 3,669 | 8,699 | SH | DFND | 1 | 8,699 | 0 | 0 | |
| S&P GLOBAL INC | COM | 78409V104 | 8,305 | 27,198 | SH | DFND | 1 | 27,198 | 0 | 0 | |
| SHERWIN WILLIAMS CO | COM | 824348106 | 901 | 4,400 | SH | DFND | 1 | 4,400 | 0 | 0 | |
| SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 6,441 | 18,032 | SH | DFND | 1 | 18,032 | 0 | 0 | |
| STERICYCLE INC | COM | 858912108 | 2,090 | 49,639 | SH | DFND | 1 | 49,639 | 0 | 0 | |
| THOMSON REUTERS CORP. | COM NEW | 884903709 | 2,331 | 22,711 | SH | DFND | 1 | 22,711 | 0 | 0 | |
| TYLER TECHNOLOGIES INC | COM | 902252105 | 1,187 | 3,415 | SH | DFND | 1 | 3,415 | 0 | 0 | |
| UNION PAC CORP | COM | 907818108 | 2,157 | 11,072 | SH | DFND | 1 | 11,072 | 0 | 0 | |
| VANGUARD INDEX FDS | S&P 500 ETF SHS | 922908363 | 11,357 | 34,592 | SH | DFND | 1 | 34,592 | 0 | 0 | |
| VISA INC | COM CL A | 92826C839 | 3,780 | 21,275 | SH | DFND | 1 | 21,275 | 0 | 0 | |
| WASTE CONNECTIONS INC | COM | 94106B101 | 8,364 | 61,893 | SH | DFND | 1 | 61,893 | 0 | 0 | |