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
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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
Mastercard Inc CL A 57636Q104 48,106 177,141 SH   SOLE   177,141 0 0
Moodys Corp COM 615369105 43,940 214,518 SH   SOLE   214,518 0 0
CBRE Group Inc CL A 12504L109 42,370 799,282 SH   SOLE   799,282 0 0
Colgate Palmolive Co COM 194162103 32,844 446,800 SH   SOLE   446,800 0 0
AON Plc SHS CL A G0408V102 39,861 205,926 SH   SOLE   205,926 0 0
The Charles Schwab Corporation COM 808513105 37,922 906,565 SH   SOLE   906,565 0 0
MSCI Inc. COM 55354G100 30,696 140,967 SH   SOLE   140,967 0 0
Alphabet Inc CAP STK CL C 02079K107 38,068 31,229 SH   SOLE   31,229 0 0
Nike Inc CL B 654106103 36,930 393,206 SH   SOLE   393,206 0 0
Wells Fargo & Co New COM 949746101 34,370 681,401 SH   SOLE   681,401 0 0
Copart Inc COM 217204106 30,797 383,382 SH   SOLE   383,382 0 0
Facebook Inc CL A 30303M102 26,775 150,352 SH   SOLE   150,352 0 0
Unilever N V N Y SHS NEW 904784709 23,184 386,205 SH   SOLE   386,205 0 0
Verisk Analytics Inc COM 92345Y106 24,468 154,726 SH   SOLE   154,726 0 0
Marsh & McLennan Cos Inc COM 571748102 26,509 264,957 SH   SOLE   264,957 0 0
Pepsico Inc COM 713448108 21,819 159,144 SH   SOLE   159,144 0 0
Lauder Estee Cos Inc CL A 518439104 17,945 90,200 SH   SOLE   90,200 0 0
Booking Hldgs Inc COM 09857L108 17,773 9,056 SH   SOLE   9,056 0 0
Procter & Gamble Co COM 742718109 16,707 134,325 SH   SOLE   134,325 0 0
Microsoft Corp COM 594918104 14,926 107,360 SH   SOLE   107,360 0 0
Disney Walt Co COM DISNEY 254687106 7,147 54,842 SH   SOLE   54,842 0 0
Berkshire Hathaway Inc Del CL B NEW 084670702 5,948 28,593 SH   SOLE   28,593 0 0
JPMorgan Chase & Co COM 46625H100 12,607 107,119 SH   SOLE   107,119 0 0
Coca Cola Co COM 191216100 5,865 107,727 SH   SOLE   107,727 0 0
Visa Inc COM CL A 92826C839 4,653 27,049 SH   SOLE   27,049 0 0
U S Bancorp Del COM NEW 902973304 3,780 68,312 SH   SOLE   68,312 0 0
Berkshire Hathaway Inc Del CL A 084670108 3,430 11 SH   SOLE   11 0 0
Bank Amer Corp COM 060505104 12,947 443,832 SH   SOLE   443,832 0 0
Equifax Inc COM 294429105 1,969 14,000 SH   SOLE   14,000 0 0
Stryker Corp COM 863667101 1,851 8,559 SH   SOLE   8,559 0 0
Johnson & Johnson COM 478160104 1,441 11,140 SH   SOLE   11,140 0 0
Becton Dickinson & Co COM 075887109 1,521 6,012 SH   SOLE   6,012 0 0
TJX COS INC NEW COM 872540109 557 10,000 SH   SOLE   10,000 0 0
Markel Corp COM 570535104 473 400 SH   SOLE   400 0 0
Bank New York Mellon Corp COM 064058100 294 6,494 SH   SOLE   6,494 0 0
Scully Royalty Ltd COM SHS G7T96K107 254 21,789 SH   SOLE   21,789 0 0
C H Robinson Worldwide Inc COM NEW 12541W209 254 3,000 SH   SOLE   3,000 0 0
Sysco Corp COM 871829107 278 3,500 SH   SOLE   3,500 0 0
Cognizant Technology Solutio CL A 192446102 218 3,611 SH   SOLE   3,611 0 0
Globe Life Inc COM 37959E102 215 2,250 SH   SOLE   2,250 0 0