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
ALPHABET CL A ORD CAP STK CL A 02079K305   31,913,189 192,422 SH   DFND 1, 2 192,422 0 0
ALPHABET CL A ORD CAP STK CL A 02079K305   39,086,035 235,671 SH   DFND 1 235,671 0 0
AMAZON COM ORD COM 023135106   40,055,733 214,972 SH   DFND 1, 2 214,972 0 0
AMAZON COM ORD COM 023135106   51,296,649 275,300 SH   DFND 1 275,300 0 0
BERKSHIRE HATHAWAY CL B ORD CL B NEW 084670702   21,688,372 47,122 SH   DFND 1, 2 47,122 0 0
BERKSHIRE HATHAWAY CL B ORD CL B NEW 084670702   27,466,936 59,677 SH   DFND 1 59,677 0 0
COMCAST CL A ORD CL A 20030N101   33,896,313 811,499 SH   DFND 1, 2 811,499 0 0
COMCAST CL A ORD CL A 20030N101   50,054,996 1,198,348 SH   DFND 1 1,198,348 0 0
CVS HEALTH ORD COM 126650100   28,437,228 452,246 SH   DFND 1, 2 452,246 0 0
CVS HEALTH ORD COM 126650100   42,720,672 679,400 SH   DFND 1 679,400 0 0
GE AEROSPACE ORD COM NEW 369604301   33,782,410 179,141 SH   DFND 1, 2 179,141 0 0
GE AEROSPACE ORD COM NEW 369604301   41,004,458 217,438 SH   DFND 1 217,438 0 0
INTEL ORD COM 458140100   37,223,630 1,586,685 SH   DFND 1, 2 1,586,685 0 0
INTEL ORD COM 458140100   65,976,300 2,812,289 SH   DFND 1 2,812,289 0 0
MERCK & CO ORD COM 58933Y105   66,671,871 587,107 SH   DFND 1, 2 587,107 0 0
MERCK & CO ORD COM 58933Y105   80,664,621 710,326 SH   DFND 1 710,326 0 0
MICROSOFT ORD COM 594918104   156,910,616 364,654 SH   DFND 1, 2 364,654 0 0
MICROSOFT ORD COM 594918104   165,266,612 384,073 SH   DFND 1 384,073 0 0
PROCTER & GAMBLE ORD COM 742718109   21,818,870 125,975 SH   DFND 1, 2 125,975 0 0
PROCTER & GAMBLE ORD COM 742718109   26,809,108 154,787 SH   DFND 1 154,787 0 0
RELIANCE ORD COM 759509102   29,655,883 102,541 SH   DFND 1, 2 102,541 0 0
RELIANCE ORD COM 759509102   38,330,158 132,534 SH   DFND 1 132,534 0 0
RENAISSANCERE ORD COM G7496G103   23,348,766 85,715 SH   DFND 1, 2 85,715 0 0
RENAISSANCERE ORD COM G7496G103   97,556,246 358,136 SH   DFND 1 358,136 0 0
SAFETY INSURANCE GROUP ORD COM 78648T100   83,967,697 1,026,751 SH   DFND 1, 2 1,026,751 0 0
SAFETY INSURANCE GROUP ORD COM 78648T100   66,694,289 815,533 SH   DFND 1 815,533 0 0
SHERWIN WILLIAMS ORD COM 824348106   42,087,514 110,272 SH   DFND 1, 2 110,272 0 0
SHERWIN WILLIAMS ORD COM 824348106   54,650,564 143,188 SH   DFND 1 143,188 0 0
TOYOTA MOTOR ADR REP 10 ORD ADS 892331307   25,816,936 144,576 SH   DFND 1, 2 144,576 0 0
TOYOTA MOTOR ADR REP 10 ORD ADS 892331307   43,994,648 246,372 SH   DFND 1 246,372 0 0
VANGUARD INFOTCH IDX ETF INF TECH ETF 92204A702   28,382,876 48,392 SH   DFND 1, 2 48,392 0 0
VANGUARD INFOTCH IDX ETF INF TECH ETF 92204A702   50,005,522 85,258 SH   DFND 1 85,258 0 0
WALMART ORD COM 931142103   27,826,289 344,598 SH   DFND 1, 2 344,598 0 0
WALMART ORD COM 931142103   34,149,498 422,904 SH   DFND 1 422,904 0 0
WW GRAINGER ORD COM 384802104   32,015,085 30,819 SH   DFND 1, 2 30,819 0 0
WW GRAINGER ORD COM 384802104   42,797,933 41,199 SH   DFND 1 41,199 0 0