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 INC CAP STK CL A 02079K305   837,900 7,000 SH   DFND 1 0 7,000 0
ALPHABET INC CAP STK CL A 02079K305   296,393,958 2,476,140 SH   DFND 1 0 2,476,140 0
ALPHABET INC CAP STK CL C 02079K107   207,524,035 1,715,500 SH   DFND 1 0 1,715,500 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108   155,343,000 300 SH   DFND 1 0 300 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   10,836,980 31,780 SH   DFND 1 0 31,780 0
BIONTECH SE SPONSORED ADS 09075V102   1,187,230 11,000 SH   DFND 1 0 11,000 0
CARVANA CO CL A 146869102   11,016,000 425,000 SH   DFND 1 0 425,000 0
CREDIT ACCEP CORP MICH COM 225310101   59,025,529 116,208 SH   DFND 1 0 116,208 0
FERGUSON PLC NEW SHS G3421J106   6,292,400 40,000 SH   DFND 1 0 40,000 0
FERGUSON PLC NEW SHS G3421J106   5,112,575 32,500 SH   DFND 1 0 32,500 0
INTERACTIVE BROKERS GROUP IN COM CL A 45841N107   16,614,000 200,000 SH   DFND 1 0 200,000 0
MARKEL CORP COM 570535104   3,215,894 2,325 SH   DFND 1 0 2,325 0
MERCADOLIBRE INC COM 58733R102   592,300 500 SH   DFND 1 0 500 0
MERCADOLIBRE INC COM 58733R102   2,013,820 1,700 SH   DFND 1 0 1,700 0
META PLATFORMS INC CL A 30303M102   49,934,520 174,000 SH   DFND 1 0 174,000 0
MICROSOFT CORP COM 594918104   263,407,690 773,500 SH   DFND 1 0 773,500 0
MICROSOFT CORP COM 594918104   1,157,836 3,400 SH   DFND 1 0 3,400 0
NU HLDGS LTD ORD SHS CL A G6683N103   828,450 105,000 SH   DFND 1 0 105,000 0
PAYPAL HLDGS INC COM 70450Y103   800,760 12,000 SH   DFND 1 0 12,000 0
PAYPAL HLDGS INC COM 70450Y103   487,129 7,300 SH   DFND 1 0 7,300 0
SALESFORCE INC COM 79466L302   30,744,245 145,528 SH   DFND 1 0 145,528 0
SPOTIFY TECHNOLOGY S A SHS L8681T102   2,488,525 15,500 SH   DFND 1 0 15,500 0
TUCOWS INC COM NEW 898697206   4,854,639 175,005 SH   DFND 1 0 175,005 0
TUCOWS INC COM NEW 898697206   6,380,200 230,000 SH   DFND 1 0 230,000 0
TUCOWS INC COM NEW 898697206   2,776,774 100,100 SH   DFND 1 0 100,100 0
TUCOWS INC COM NEW 898697206   39,208,798 1,413,439 SH   DFND 1 0 1,413,439 0
WIX COM LTD SHS M98068105   19,560,000 250,000 SH   DFND 1 0 250,000 0