The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AMERICAN AIRLINES GROUP INC COMMON STOCK 02376R102   836,924 73,868 SH   SOLE   73,868 0 0
APPLE INC COMMON STOCK 037833100   25,619,185 121,637 SH   DFND   121,637 0 0
ABBVIE INC COMMON STOCK 00287Y109   2,499,561 14,573 SH   SOLE   14,573 0 0
ABBOTT LABORATORIES COMMON STOCK 002824100   2,174,213 20,924 SH   SOLE   20,924 0 0
ACCENTURE PLC COMMON STOCK G1151C101   755,794 2,491 SH   SOLE   2,491 0 0
ANALOG DEVICES INC COMMON STOCK 032654105   3,273,705 14,342 SH   SOLE   14,342 0 0
AUTOMATIC DATA PROCESSING INC COMMON STOCK 053015103   3,585,124 15,020 SH   SOLE   15,020 0 0
ARTHUR J GALLAGHER & CO COMMON STOCK 363576109   149,624,981 577,012 SH   DFND   577,012 0 0
APPLIED MATERIALS INC COMMON STOCK 038222105   1,501,368 6,362 SH   SOLE   6,362 0 0
ADVANCED MICRO DEVICES INC COMMON STOCK 007903107   775,526 4,781 SH   SOLE   4,781 0 0
AMGEN INC COMMON STOCK 031162100   408,372 1,307 SH   SOLE   1,307 0 0
AMERIPRISE FINANCIAL INC COMMON STOCK 03076C106   1,334,969 3,125 SH   SOLE   3,125 0 0
AMAZON.COM INC COMMON STOCK 023135106   5,270,894 27,275 SH   SOLE   27,275 0 0
ARISTA NETWORKS INC COMMON STOCK 040413106   670,118 1,912 SH   SOLE   1,912 0 0
AMPHENOL CORP COMMON STOCK 032095101   676,395 10,040 SH   SOLE   10,040 0 0
ASML HOLDING NV NY REG SHRS N07059210   22,611,538 22,109 SH   DFND   22,109 0 0
BROADCOM INC COMMON STOCK 11135F101   6,422,120 4,000 SH   SOLE   4,000 0 0
AUTOZONE INC COMMON STOCK 053332102   62,649,219 21,136 SH   DFND   21,136 0 0
BANK OF AMERICA CORP COMMON STOCK 060505104   224,581 5,647 SH   SOLE   5,647 0 0
BOOZ ALLEN HAMILTON HOLDING CO COMMON STOCK 099502106   26,330,597 171,089 SH   DFND   171,089 0 0
BALL CORP COMMON STOCK 058498106   10,235,331 170,532 SH   DFND   170,532 0 0
ATLANTA BRAVES HOLDINGS INC COMMON STOCK 047726302   2,063,028 52,308 SH   SOLE   52,308 0 0
BJ'S WHOLESALE CLUB HOLDINGS INC COMMON STOCK 05550J101   2,849,442 32,439 SH   DFND   32,439 0 0
BLACKROCK INC COMMON STOCK 09247X101   1,917,912 2,436 SH   SOLE   2,436 0 0
BRISTOL-MYERS SQUIBB CO COMMON STOCK 110122108   399,975 9,631 SH   SOLE   9,631 0 0
BERKSHIRE HATHAWAY INC COMMON STOCK 084670702   44,744,745 109,992 SH   DFND   109,992 0 0
BROWN & BROWN INC COMMON STOCK 115236101   65,214,671 729,389 SH   DFND   729,389 0 0
BLACKSTONE INC COMMON STOCK 09260D107   17,898,880 144,579 SH   SOLE   144,579 0 0
BLACKSTONE SECURED LENDING FUND COMMON STOCK 09261X102   1,036,181 33,840 SH   SOLE   33,840 0 0
CACI INTERNATIONAL INC COMMON STOCK 127190304   216,786 504 SH   SOLE   504 0 0
CHUBB LTD COMMON STOCK H1467J104   238,500 935 SH   SOLE   935 0 0
CDW CORP COMMON STOCK 12514G108   5,673,001 25,344 SH   DFND   25,344 0 0
CLEAN HARBORS INC COMMON STOCK 184496107   5,467,176 24,175 SH   DFND   24,175 0 0
CME GROUP INC COMMON STOCK 12572Q105   265,213 1,349 SH   SOLE   1,349 0 0
CORE & MAIN INC COMMON STOCK 21874C102   4,265,904 87,166 SH   DFND   87,166 0 0
COCA-COLA CONSOLIDATED INC COMMON STOCK 191098102   3,441,620 3,172 SH   DFND   3,172 0 0
CONOCOPHILLIPS COMMON STOCK 20825C104   404,448 3,536 SH   SOLE   3,536 0 0
COSTCO WHOLESALE CORP COMMON STOCK 22160K105   326,946,103 384,647 SH   DFND   384,647 0 0
CANADIAN PACIFIC KANSAS CITY LTD COMMON STOCK 13646K108   137,354,169 1,744,623 SH   DFND   1,744,623 0 0
COPART INC COMMON STOCK 217204106   18,374,159 339,257 SH   DFND   339,257 0 0
CSX CORP COMMON STOCK 126408103   59,084,307 1,766,347 SH   DFND   1,766,347 0 0
CINTAS CORP COMMON STOCK 172908105   138,047,856 197,138 SH   DFND   197,138 0 0
CURTISS-WRIGHT CORP COMMON STOCK 231561101   2,048,880 7,561 SH   DFND   7,561 0 0
DEERE & CO COMMON STOCK 244199105   44,049,483 117,896 SH   DFND   117,896 0 0
DIAGEO PLC ADR 25243Q205   557,904 4,425 SH   SOLE   4,425 0 0
DANAHER CORP COMMON STOCK 235851102   868,728 3,477 SH   SOLE   3,477 0 0
DOMINO'S PIZZA INC COMMON STOCK 25754A201   858,657 1,663 SH   SOLE   1,663 0 0
DARDEN RESTAURANTS INC COMMON STOCK 237194105   5,469,462 36,145 SH   DFND   36,145 0 0
ISHARES MSCI EAFE ETF ETP 464287465   257,001 3,281 SH   SOLE   3,281 0 0
ENTERPRISE PRODUCTS PARTNERS LP MLP 293792107   1,878,310 64,814 SH   SOLE   64,814 0 0
EATON CORP PLC COMMON STOCK G29183103   37,311,509 118,997 SH   DFND   118,997 0 0
ETSY INC COMMON STOCK 29786A106   3,410,636 57,827 SH   DFND   57,827 0 0
FASTENAL CO COMMON STOCK 311900104   1,003,555 15,970 SH   SOLE   15,970 0 0
FISERV INC COMMON STOCK 337738108   1,695,330 11,375 SH   SOLE   11,375 0 0
FIVE BELOW INC COMMON STOCK 33829M101   5,536,874 50,811 SH   DFND   50,811 0 0
FIRST LONG IS CORP COMMON STOCK 320734106   1,357,119 135,441 SH   SOLE   135,441 0 0
FLOWSERVE CORP COMMON STOCK 34354P105   564,598 11,738 SH   SOLE   11,738 0 0
GENERAL DYNAMICS CORP COMMON STOCK 369550108   582,311 2,007 SH   SOLE   2,007 0 0
ALPHABET INC COMMON STOCK 02079K107   10,262,349 55,950 SH   SOLE   55,950 0 0
ALPHABET INC COMMON STOCK 02079K305   31,598,107 173,473 SH   DFND   173,473 0 0
HASBRO INC COMMON STOCK 418056107   2,336,549 39,941 SH   SOLE   39,941 0 0
HUNTINGTON BANCSHARES INC COMMON STOCK 446150104   615,941 46,733 SH   SOLE   46,733 0 0
HOME DEPOT INC COMMON STOCK 437076102   203,109,517 590,023 SH   DFND   590,023 0 0
HONEYWELL INTERNATIONAL INC COMMON STOCK 438516106   375,403 1,758 SH   SOLE   1,758 0 0
HERSHEY CO COMMON STOCK 427866108   3,962,456 21,555 SH   SOLE   21,555 0 0
HUBSPOT INC COMMON STOCK 443573100   1,131,807 1,919 SH   DFND   1,919 0 0
INTERNATIONAL BUSINESS MACHINES CORP COMMON STOCK 459200101   77,463,267 447,894 SH   DFND   447,894 0 0
ICF INTERNATIONAL INC COMMON STOCK 44925C103   400,397 2,697 SH   SOLE   2,697 0 0
IDEXX LABORATORIES INC COMMON STOCK 45168D104   11,803,394 24,227 SH   SOLE   24,227 0 0
INTUIT INC COMMON STOCK 461202103   3,940,631 5,996 SH   SOLE   5,996 0 0
ILLINOIS TOOL WORKS INC COMMON STOCK 452308109   353,781 1,493 SH   SOLE   1,493 0 0
ISHARES S&P 500 VALUE ETF ETP 464287408   531,287 2,919 SH   SOLE   2,919 0 0
ISHARES CORE S&P 500 ETF ETP 464287200   234,214 428 SH   SOLE   428 0 0
ISHARES RUSSELL 1000 ETF ETP 464287622   7,304,607 24,550 SH   SOLE   24,550 0 0
ISHARES RUSSELL 1000 GROWTH ETF ETP 464287614   612,377 1,680 SH   SOLE   1,680 0 0
JOHNSON & JOHNSON COMMON STOCK 478160104   968,895 6,629 SH   SOLE   6,629 0 0
JPMORGAN CHASE & CO COMMON STOCK 46625H100   3,133,007 15,490 SH   SOLE   15,490 0 0
KINSALE CAPITAL GROUP INC COMMON STOCK 49714P108   2,101,702 5,455 SH   DFND   5,455 0 0
COCA COLA CO COMMON STOCK 191216100   542,298 8,520 SH   SOLE   8,520 0 0
KROGER CO COMMON STOCK 501044101   18,759,500 375,716 SH   DFND   375,716 0 0
LAZARD INC COMMON STOCK 52110M109   7,895,548 206,798 SH   DFND   206,798 0 0
LABCORP HOLDINGS INC COMMON STOCK 504922105   222,233 1,092 SH   SOLE   1,092 0 0
LINDE PLC COMMON STOCK G54950103   2,846,122 6,486 SH   SOLE   6,486 0 0
ELI LILLY & CO COMMON STOCK 532457108   2,871,865 3,172 SH   SOLE   3,172 0 0
LOCKHEED MARTIN CORP COMMON STOCK 539830109   3,459,343 7,406 SH   SOLE   7,406 0 0
LOWE'S COS INC COMMON STOCK 548661107   744,493 3,377 SH   SOLE   3,377 0 0
LAM RESEARCH CORP COMMON STOCK 512807108   3,501,227 3,288 SH   SOLE   3,288 0 0
MASTERCARD INC COMMON STOCK 57636Q104   169,863,364 385,038 SH   DFND   385,038 0 0
MCDONALD'S CORP COMMON STOCK 580135101   11,175,244 43,852 SH   SOLE   43,852 0 0
MOODY'S CORP COMMON STOCK 615369105   90,180,464 214,241 SH   DFND   214,241 0 0
MISTER CAR WASH INC COMMON STOCK 60646V105   3,750,261 526,722 SH   DFND   526,722 0 0
MONGODB INC COMMON STOCK 60937P106   343,195 1,373 SH   SOLE   1,373 0 0
MEDTRONIC PLC COMMON STOCK G5960L103   15,900,522 202,014 SH   SOLE   202,014 0 0
META PLATFORMS INC COMMON STOCK 30303M102   245,051 486 SH   SOLE   486 0 0
MARTIN MARIETTA MATERIALS INC COMMON STOCK 573284106   1,993,824 3,680 SH   SOLE   3,680 0 0
MARSH & MCLENNAN COS INC COMMON STOCK 571748102   613,617 2,912 SH   SOLE   2,912 0 0
MERCK & CO INC COMMON STOCK 58933Y105   3,585,743 28,964 SH   SOLE   28,964 0 0
MORGAN STANLEY COMMON STOCK 617446448   51,574,942 530,661 SH   DFND   530,661 0 0
MSCI INC COMMON STOCK 55354G100   255,328 530 SH   SOLE   530 0 0
MICROSOFT CORP COMMON STOCK 594918104   388,258,314 868,684 SH   DFND   868,684 0 0
METTLER-TOLEDO INTERNATIONAL COMMON STOCK 592688105   74,912,221 53,601 SH   DFND   53,601 0 0
MURPHY USA INC COMMON STOCK 626755102   69,617,163 148,292 SH   DFND   148,292 0 0
DUCKHORN PORTFOLIO INC COMMON STOCK 26414D106   858,915 120,974 SH   DFND   120,974 0 0
NEXTERA ENERGY INC COMMON STOCK 65339F101   705,409 9,962 SH   SOLE   9,962 0 0
NEW MOUNTAIN FINANCE CORP COMMON STOCK 647551100   697,925 57,020 SH   SOLE   57,020 0 0
SERVICENOW INC COMMON STOCK 81762P102   44,412,241 56,456 SH   DFND   56,456 0 0
NORFOLK SOUTHERN CORP COMMON STOCK 655844108   671,765 3,129 SH   SOLE   3,129 0 0
NVIDIA CORP COMMON STOCK 67066G104   3,749,439 30,350 SH   SOLE   30,350 0 0
NOVO NORDISK A/S ADR 670100205   1,433,110 10,040 SH   SOLE   10,040 0 0
NVR INC COMMON STOCK 62944T105   1,563,243 206 SH   SOLE   206 0 0
NOVARTIS AG ADR 66987V109   244,858 2,300 SH   SOLE   2,300 0 0
NVENT ELECTRIC PLC COMMON STOCK G6700G107   2,472,205 32,270 SH   DFND   32,270 0 0
BLUE OWL CAPITAL CORP COMMON STOCK 69121K104   271,918 17,703 SH   SOLE   17,703 0 0
OLD DOMINION FREIGHT LINE INC COMMON STOCK 679580100   17,306,271 97,997 SH   DFND   97,997 0 0
O'REILLY AUTOMOTIVE INC COMMON STOCK 67103H107   33,256,385 31,491 SH   DFND   31,491 0 0
PEPSICO INC COMMON STOCK 713448108   6,598,355 40,007 SH   SOLE   40,007 0 0
PROCTER AND GAMBLE CO COMMON STOCK 742718109   3,015,727 18,286 SH   SOLE   18,286 0 0
PROGRESSIVE CORP COMMON STOCK 743315103   96,603,220 465,087 SH   DFND   465,087 0 0
PARKER-HANNIFIN CORP COMMON STOCK 701094104   335,858 664 SH   SOLE   664 0 0
PNC FINANCIAL SERVICES GROUP INC COMMON STOCK 693475105   593,312 3,816 SH   SOLE   3,816 0 0
PPG INDUSTRIES INC COMMON STOCK 693506107   322,908 2,565 SH   SOLE   2,565 0 0
PROFOUND MEDICAL CORP COMMON STOCK 74319B502   335,600 40,000 SH   SOLE   40,000 0 0
QUALCOMM INC COMMON STOCK 747525103   2,360,881 11,853 SH   SOLE   11,853 0 0
ROPER TECHNOLOGIES INC COMMON STOCK 776696106   462,201 820 SH   SOLE   820 0 0
RELIANCE STEEL & ALUMINUM CO COMMON STOCK 759509102   253,613 888 SH   SOLE   888 0 0
REPUBLIC SERVICES INC COMMON STOCK 760759100   253,907,542 1,306,512 SH   DFND   1,306,512 0 0
INVESCO S&P 500 EQUAL WEIGHT ETF ETP 46137V357   246,420 1,500 SH   SOLE   1,500 0 0
RTX CORP COMMON STOCK 75513E101   461,192 4,594 SH   SOLE   4,594 0 0
SABINE ROYALTY TRUST ROYALTY TRST 785688102   586,544 9,067 SH   SOLE   9,067 0 0
SHERWIN WILLIAMS CO COMMON STOCK 824348106   275,263,178 922,371 SH   DFND   922,371 0 0
SKYWARD SPECIALTY INSURANCE GROUP COMMON STOCK 830940102   3,254,427 89,951 SH   DFND   89,951 0 0
SKYLINE CHAMPION CORP COMMON STOCK 830830105   12,966,131 191,382 SH   DFND   191,382 0 0
S&P GLOBAL INC COMMON STOCK 78409V104   1,687,664 3,784 SH   SOLE   3,784 0 0
SPDR S&P 500 ETF TRUST ETP 78462F103   1,444,360 2,654 SH   SOLE   2,654 0 0
STRYKER CORP COMMON STOCK 863667101   1,020,410 2,999 SH   SOLE   2,999 0 0
TELEDYNE TECHNOLOGIES INC COMMON STOCK 879360105   5,312,998 13,694 SH   DFND   13,694 0 0
TRUIST FINANCIAL CORP COMMON STOCK 89832Q109   503,108 12,950 SH   SOLE   12,950 0 0
TJX COS INC COMMON STOCK 872540109   4,243,254 38,540 SH   SOLE   38,540 0 0
THERMO FISHER SCIENTIFIC INC COMMON STOCK 883556102   24,538,269 44,373 SH   SOLE   44,373 0 0
TRIMBLE INC COMMON STOCK 896239100   252,702 4,519 SH   SOLE   4,519 0 0
TRACTOR SUPPLY CO COMMON STOCK 892356106   11,030,310 40,853 SH   DFND   40,853 0 0
TORO CO COMMON STOCK 891092108   339,067 3,626 SH   SOLE   3,626 0 0
THE TRADE DESK INC COMMON STOCK 88339J105   5,080,599 52,018 SH   DFND   52,018 0 0
TEXAS INSTRUMENTS INC COMMON STOCK 882508104   4,751,590 24,426 SH   SOLE   24,426 0 0
UNITEDHEALTH GROUP INC COMMON STOCK 91324P102   25,681,982 50,430 SH   SOLE   50,430 0 0
UNION PACIFIC CORP COMMON STOCK 907818108   11,490,388 50,784 SH   SOLE   50,784 0 0
US BANCORP COMMON STOCK 902973304   381,279 9,604 SH   SOLE   9,604 0 0
VISA INC COMMON STOCK 92826C839   32,119,766 122,375 SH   DFND   122,375 0 0
VANGUARD FTSE DEVELOPED MARKETS ETF ETP 921943858   270,970 5,483 SH   SOLE   5,483 0 0
VANGUARD S&P 500 ETF ETP 922908363   477,624 955 SH   SOLE   955 0 0
VERISK ANALYTICS INC COMMON STOCK 92345Y106   456,348 1,693 SH   SOLE   1,693 0 0
VERTIV HOLDINGS CO COMMON STOCK 92537N108   729,006 8,421 SH   SOLE   8,421 0 0
VISTRA CORP COMMON STOCK 92840M102   1,723,469 20,045 SH   SOLE   20,045 0 0
VANGUARD TOTAL STOCK MARKET ETF ETP 922908769   12,175,985 45,516 SH   SOLE   45,516 0 0
WATERS CORP COMMON STOCK 941848103   273,293 942 SH   SOLE   942 0 0
WASTE CONNECTIONS INC COMMON STOCK 94106B101   3,382,776 19,289 SH   DFND   19,289 0 0
WELLS FARGO & CO COMMON STOCK 949746101   680,906 11,465 SH   SOLE   11,465 0 0
WELLS FARGO CO PERP CONV PFD A PREFERRED STOCK 949746804   284,164 239 SH   SOLE   239 0 0
WASTE MANAGEMENT INC COMMON STOCK 94106L109   6,013,201 28,186 SH   SOLE   28,186 0 0
WALMART INC COMMON STOCK 931142103   611,895 9,037 SH   SOLE   9,037 0 0
W R BERKLEY CORP COMMON STOCK 084423102   63,719,501 810,887 SH   DFND   810,887 0 0
SELECT SECTOR SPDR INT-FINL ETP 81369Y605   966,085 23,500 SH   SOLE   23,500 0 0
SELECT SECTOR SPDR INT-UTILS ETP 81369Y886   1,465,010 21,500 SH   SOLE   21,500 0 0
YUM! BRANDS INC COMMON STOCK 988498101   481,360 3,634 SH   SOLE   3,634 0 0
ZOETIS INC COMMON STOCK 98978V103   3,033,973 17,501 SH   SOLE   17,501 0 0