The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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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 | 1,159 | 400 | SH | DFND | 1 | 0 | 400 | 0 | |
| ALPHABET INC | CAP STK CL A | 02079K305 | 358,674 | 123,807 | SH | DFND | 1 | 0 | 123,807 | 0 | |
| ALPHABET INC | CAP STK CL C | 02079K107 | 248,198 | 85,775 | SH | DFND | 1 | 0 | 85,775 | 0 | |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 | 135,199 | 300 | SH | DFND | 1 | 0 | 300 | 0 | |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | 9,502 | 31,780 | SH | DFND | 1 | 0 | 31,780 | 0 | |
| CARVANA CO | CL A | 146869102 | 28,974 | 125,000 | SH | DFND | 1 | 0 | 125,000 | 0 | |
| CREDIT ACCEP CORP MICH | COM | 225310101 | 101,232 | 147,208 | SH | DFND | 1 | 0 | 147,208 | 0 | |
| CRESUD S A C I F Y A | SPONSORED ADR | 226406106 | 283 | 60,000 | SH | DFND | 1 | 0 | 60,000 | 0 | |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 | 2,150 | 27,074 | SH | DFND | 1 | 0 | 27,074 | 0 | |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 | 4,765 | 60,000 | SH | DFND | 1 | 0 | 60,000 | 0 | |
| MARKEL CORP | COM | 570535104 | 2,869 | 2,325 | SH | DFND | 1 | 0 | 2,325 | 0 | |
| MERCADOLIBRE INC | COM | 58733R102 | 1,753 | 1,300 | SH | DFND | 1 | 0 | 1,300 | 0 | |
| MERCADOLIBRE INC | COM | 58733R102 | 2,157 | 1,600 | SH | DFND | 1 | 0 | 1,600 | 0 | |
| META PLATFORMS INC | CL A | 30303M102 | 58,861 | 175,000 | SH | DFND | 1 | 0 | 175,000 | 0 | |
| MICROSOFT CORP | COM | 594918104 | 260,144 | 773,500 | SH | DFND | 1 | 0 | 773,500 | 0 | |
| MICROSOFT CORP | COM | 594918104 | 2,691 | 8,000 | SH | DFND | 1 | 0 | 8,000 | 0 | |
| SALESFORCE COM INC | COM | 79466L302 | 53,501 | 210,528 | SH | DFND | 1 | 0 | 210,528 | 0 | |
| STONECO LTD | COM CL A | G85158106 | 843 | 50,000 | SH | DFND | 1 | 0 | 50,000 | 0 | |
| STONECO LTD | COM CL A | G85158106 | 506 | 30,000 | SH | DFND | 1 | 0 | 30,000 | 0 | |
| TUCOWS INC | COM NEW | 898697206 | 8,382 | 100,000 | SH | DFND | 1 | 0 | 100,000 | 0 | |
| TUCOWS INC | COM NEW | 898697206 | 10,478 | 125,000 | SH | DFND | 1 | 0 | 125,000 | 0 | |
| TUCOWS INC | COM NEW | 898697206 | 2,934 | 35,000 | SH | DFND | 1 | 0 | 35,000 | 0 | |
| TUCOWS INC | COM NEW | 898697206 | 118,474 | 1,413,439 | SH | DFND | 1 | 0 | 1,413,439 | 0 | |
| WIX COM LTD | SHS | M98068105 | 41,025 | 260,000 | SH | DFND | 1 | 0 | 260,000 | 0 | |