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      <Sole>392357</Sole>
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    <cusip>H01301128</cusip>
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    <titleOfClass>COM</titleOfClass>
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      <Sole>983828</Sole>
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    <nameOfIssuer>ALLIANCE LAUNDRY HLDGS INC</nameOfIssuer>
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      <Sole>566185</Sole>
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      <Sole>173900</Sole>
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    <nameOfIssuer>ALPHABET INC</nameOfIssuer>
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    <nameOfIssuer>ALPHABET INC</nameOfIssuer>
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    <cusip>02079K305</cusip>
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    <nameOfIssuer>AMAZON COM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>023135106</cusip>
    <value>67946213</value>
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      <Sole>312726</Sole>
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      <None>13515</None>
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    <nameOfIssuer>AMPHENOL CORP</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>032095101</cusip>
    <value>151612798</value>
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      <Sole>1199716</Sole>
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    <nameOfIssuer>API GROUP CORP</nameOfIssuer>
    <titleOfClass>COM STK</titleOfClass>
    <cusip>00187Y100</cusip>
    <value>29499573</value>
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    <otherManager>N/A</otherManager>
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      <Sole>437305</Sole>
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    <nameOfIssuer>APOLLO GLOBAL MGMT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03769M106</cusip>
    <value>101836209</value>
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    <otherManager>N/A</otherManager>
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      <Sole>796530</Sole>
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      <None>117455</None>
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    <nameOfIssuer>ARCOSA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>039653100</cusip>
    <value>15536879</value>
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      <Sole>146381</Sole>
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      <None>0</None>
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    <nameOfIssuer>ARES MANAGEMENT CORPORATION</nameOfIssuer>
    <titleOfClass>CL A COM STK</titleOfClass>
    <cusip>03990B101</cusip>
    <value>16051883</value>
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    <otherManager>N/A</otherManager>
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      <Sole>88393</Sole>
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      <None>58737</None>
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    <nameOfIssuer>BADGER METER INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>056525108</cusip>
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      <Sole>91720</Sole>
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      <None>104</None>
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    <nameOfIssuer>BIO RAD LABS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>090572207</cusip>
    <value>13501535</value>
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      <sshPrnamt>48436</sshPrnamt>
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    <otherManager>N/A</otherManager>
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      <Sole>48430</Sole>
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      <None>6</None>
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    <nameOfIssuer>BIO-TECHNE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09073M104</cusip>
    <value>37095559</value>
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    <otherManager>N/A</otherManager>
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      <Sole>709809</Sole>
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      <None>18</None>
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    <nameOfIssuer>BLACKLINE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09239B109</cusip>
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    <otherManager>N/A</otherManager>
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      <Sole>112252</Sole>
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      <None>0</None>
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    <nameOfIssuer>BLOOM ENERGY CORP</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>093712107</cusip>
    <value>71240642</value>
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      <sshPrnamt>525800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
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    <otherManager>N/A</otherManager>
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      <Sole>525800</Sole>
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      <None>0</None>
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    <nameOfIssuer>BLOOM ENERGY CORP</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>093712107</cusip>
    <value>2439</value>
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    <otherManager>N/A</otherManager>
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      <None>18</None>
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    <nameOfIssuer>BOOT BARN HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>099406100</cusip>
    <value>13512833</value>
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      <Sole>92313</Sole>
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      <None>13</None>
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    <nameOfIssuer>BROADCOM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>11135F101</cusip>
    <value>62361313</value>
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      <Sole>192796</Sole>
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      <None>8688</None>
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    <nameOfIssuer>BROOKFIELD CORP</nameOfIssuer>
    <titleOfClass>CL A LTD VT SH</titleOfClass>
    <cusip>11271J107</cusip>
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      <Sole>738067</Sole>
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      <None>27774</None>
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    <nameOfIssuer>BROOKFIELD INFRASTRUCTURE PA</nameOfIssuer>
    <titleOfClass>LP INT UNIT</titleOfClass>
    <cusip>G16252101</cusip>
    <value>2273790</value>
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    <otherManager>N/A</otherManager>
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      <Sole>62951</Sole>
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      <None>0</None>
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    <nameOfIssuer>BROWN &amp; BROWN INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>115236101</cusip>
    <value>523122641</value>
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      <Sole>7785412</Sole>
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      <None>236711</None>
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    <nameOfIssuer>BUILDERS FIRSTSOURCE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12008R107</cusip>
    <value>7055681</value>
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    <putCall>Call</putCall>
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      <Sole>85700</Sole>
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      <None>0</None>
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    <nameOfIssuer>BWX TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05605H100</cusip>
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    <nameOfIssuer>C H ROBINSON WORLDWIDE IN</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>12541W209</cusip>
    <value>325919682</value>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <None>10</None>
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    <nameOfIssuer>CADRE HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12763L105</cusip>
    <value>22963919</value>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <None>0</None>
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    <nameOfIssuer>CAE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>124765108</cusip>
    <value>214163769</value>
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      <sshPrnamt>8251691</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <Sole>8251691</Sole>
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      <None>0</None>
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    <nameOfIssuer>CANADIAN PACIFIC KANSAS CITY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>13646K108</cusip>
    <value>388761383</value>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <None>68925</None>
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    <nameOfIssuer>CARGURUS INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>141788109</cusip>
    <value>15638007</value>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
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      <Sole>459173</Sole>
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      <None>93</None>
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    <nameOfIssuer>CASELLA WASTE SYS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>147448104</cusip>
    <value>31099217</value>
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    <nameOfIssuer>CASEYS GEN STORES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>147528103</cusip>
    <value>5062994</value>
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    <investmentDiscretion>SOLE</investmentDiscretion>
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      <None>0</None>
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    <nameOfIssuer>CDW CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12514G108</cusip>
    <value>144711238</value>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
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    <nameOfIssuer>CELLEBRITE DI LTD</nameOfIssuer>
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    <cusip>M2197Q107</cusip>
    <value>11084536</value>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>804393</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CERTARA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>15687V109</cusip>
    <value>3499430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>613935</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>613935</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHEFS WHSE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>163086101</cusip>
    <value>32797733</value>
    <shrsOrPrnAmt>
      <sshPrnamt>551686</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>551686</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>CIENA CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>171779309</cusip>
    <value>1012504</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2608</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>2598</Sole>
      <Shared>0</Shared>
      <None>10</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CINCINNATI FINL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>172062101</cusip>
    <value>19806431</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125875</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>125875</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CINTAS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>172908105</cusip>
    <value>26632954</value>
    <shrsOrPrnAmt>
      <sshPrnamt>157461</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>157461</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CLEAN HARBORS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>184496107</cusip>
    <value>324464241</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1131602</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1131602</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CLOUDFLARE INC</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>18915M107</cusip>
    <value>64130472</value>
    <shrsOrPrnAmt>
      <sshPrnamt>310800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>310800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CLOUDFLARE INC</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>18915M107</cusip>
    <value>176405018</value>
    <shrsOrPrnAmt>
      <sshPrnamt>854924</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>854924</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CNH INDL N V</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>N20944109</cusip>
    <value>8657825</value>
    <shrsOrPrnAmt>
      <sshPrnamt>787075</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>787075</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COHERENT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>19247G107</cusip>
    <value>1544554</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6484</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>6484</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CORE &amp; MAIN INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>21874C102</cusip>
    <value>358357826</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7254207</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>7254207</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COREWEAVE INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>21873S108</cusip>
    <value>53934614</value>
    <shrsOrPrnAmt>
      <sshPrnamt>696200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>696200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CORPAY INC</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>219948106</cusip>
    <value>309597647</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1063946</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1048191</Sole>
      <Shared>0</Shared>
      <None>15755</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COSTAR GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22160N109</cusip>
    <value>13114534</value>
    <shrsOrPrnAmt>
      <sshPrnamt>325100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>325100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COSTAR GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22160N109</cusip>
    <value>30941</value>
    <shrsOrPrnAmt>
      <sshPrnamt>767</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>767</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CRANE COMPANY</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>224408104</cusip>
    <value>105305391</value>
    <shrsOrPrnAmt>
      <sshPrnamt>615821</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>615699</Sole>
      <Shared>0</Shared>
      <None>122</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CREDO TECHNOLOGY GROUP HOLDI</nameOfIssuer>
    <titleOfClass>ORDINARY SHARES</titleOfClass>
    <cusip>G25457105</cusip>
    <value>1874584</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19970</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>19938</Sole>
      <Shared>0</Shared>
      <None>32</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CRH PLC</nameOfIssuer>
    <titleOfClass>ORD</titleOfClass>
    <cusip>G25508105</cusip>
    <value>510619139</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4857488</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>4798539</Sole>
      <Shared>0</Shared>
      <None>58949</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CSW INDUSTRIALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>126402106</cusip>
    <value>29563062</value>
    <shrsOrPrnAmt>
      <sshPrnamt>113451</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>113451</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DANAHER CORP DEL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>235851102</cusip>
    <value>47699189</value>
    <shrsOrPrnAmt>
      <sshPrnamt>251578</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>150943</Sole>
      <Shared>0</Shared>
      <None>100635</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DESCARTES SYS GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>249906108</cusip>
    <value>77121310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1080155</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1080155</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DICKS SPORTING GOODS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>253393102</cusip>
    <value>110430279</value>
    <shrsOrPrnAmt>
      <sshPrnamt>556913</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>492017</Sole>
      <Shared>0</Shared>
      <None>64896</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ELI LILLY &amp; CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>532457108</cusip>
    <value>3035241</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ELI LILLY &amp; CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>532457108</cusip>
    <value>12877</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>14</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EMCOR GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29084Q100</cusip>
    <value>410388875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>555849</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>555849</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENERGY RECOVERY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29270J100</cusip>
    <value>3969675</value>
    <shrsOrPrnAmt>
      <sshPrnamt>394208</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>394208</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENTEGRIS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29362U104</cusip>
    <value>7350948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>62700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENTEGRIS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29362U104</cusip>
    <value>119686799</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1020870</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1020852</Sole>
      <Shared>0</Shared>
      <None>18</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ESCO TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>296315104</cusip>
    <value>13296139</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47255</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>47229</Sole>
      <Shared>0</Shared>
      <None>26</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EVERUS CONSTR GROUP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>300426103</cusip>
    <value>13447742</value>
    <shrsOrPrnAmt>
      <sshPrnamt>113906</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>113882</Sole>
      <Shared>0</Shared>
      <None>24</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FORGENT POWER SOLUTIONS INC</nameOfIssuer>
    <titleOfClass>COM SHS CL A</titleOfClass>
    <cusip>34631F102</cusip>
    <value>10780931</value>
    <shrsOrPrnAmt>
      <sshPrnamt>368327</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>368327</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FORMFACTOR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>346375108</cusip>
    <value>24966584</value>
    <shrsOrPrnAmt>
      <sshPrnamt>257414</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>257388</Sole>
      <Shared>0</Shared>
      <None>26</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FORTIVE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>34959J108</cusip>
    <value>94686514</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1712853</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1335715</Sole>
      <Shared>0</Shared>
      <None>377138</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FORTUNE BRANDS INNOVATIONS I</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>34964C106</cusip>
    <value>26499600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>680000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>680000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FORTUNE BRANDS INNOVATIONS I</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>34964C106</cusip>
    <value>34854534</value>
    <shrsOrPrnAmt>
      <sshPrnamt>894394</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>894394</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FRANCO NEV CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>351858105</cusip>
    <value>102559738</value>
    <shrsOrPrnAmt>
      <sshPrnamt>415524</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>415524</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FRANKLIN ELEC INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>353514102</cusip>
    <value>19468793</value>
    <shrsOrPrnAmt>
      <sshPrnamt>211227</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>211134</Sole>
      <Shared>0</Shared>
      <None>93</None>
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    <nameOfIssuer>GARMIN LTD</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>H2906T109</cusip>
    <value>83897136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>361610</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>361591</Sole>
      <Shared>0</Shared>
      <None>19</None>
    </votingAuthority>
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    <nameOfIssuer>GE AEROSPACE</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>369604301</cusip>
    <value>11142229</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39265</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>34968</Sole>
      <Shared>0</Shared>
      <None>4297</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GFL ENVIRONMENTAL INC</nameOfIssuer>
    <titleOfClass>SUB VTG SHS</titleOfClass>
    <cusip>36168Q104</cusip>
    <value>11293145</value>
    <shrsOrPrnAmt>
      <sshPrnamt>270689</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>270689</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>GLOBALFOUNDRIES INC</nameOfIssuer>
    <titleOfClass>ORDINARY SHARES</titleOfClass>
    <cusip>G39387108</cusip>
    <value>8539226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>191979</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>191979</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>HUBBELL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>443510607</cusip>
    <value>183702139</value>
    <shrsOrPrnAmt>
      <sshPrnamt>374337</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>374337</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>IDEXX LABS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45168D104</cusip>
    <value>9622928</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17126</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>16315</Sole>
      <Shared>0</Shared>
      <None>811</None>
    </votingAuthority>
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    <nameOfIssuer>INTEL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>458140100</cusip>
    <value>63512955</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1439224</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1439224</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>INTUIT</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>461202103</cusip>
    <value>60823327</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140671</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>134292</Sole>
      <Shared>0</Shared>
      <None>6379</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>IRIDIUM COMMUNICATIONS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46269C102</cusip>
    <value>26145477</value>
    <shrsOrPrnAmt>
      <sshPrnamt>942519</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>942344</Sole>
      <Shared>0</Shared>
      <None>175</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>IRON MTN INC DEL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46284V101</cusip>
    <value>181758130</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1779500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1779500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUSSELL 2000 ETF</titleOfClass>
    <cusip>464287655</cusip>
    <value>89280000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>360000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>360000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>RUS MID CAP ETF</titleOfClass>
    <cusip>464287499</cusip>
    <value>73214</value>
    <shrsOrPrnAmt>
      <sshPrnamt>753</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>753</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ITT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45073V108</cusip>
    <value>745636488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3913486</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>3913406</Sole>
      <Shared>0</Shared>
      <None>80</None>
    </votingAuthority>
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    <nameOfIssuer>KADANT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>48282T104</cusip>
    <value>25905718</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88612</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>88612</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>KARMAN HLDGS INC</nameOfIssuer>
    <titleOfClass>COMMON STOCK</titleOfClass>
    <cusip>485924104</cusip>
    <value>2906215</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36305</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>36305</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>KIRBY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>497266106</cusip>
    <value>49949193</value>
    <shrsOrPrnAmt>
      <sshPrnamt>375897</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>375880</Sole>
      <Shared>0</Shared>
      <None>17</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>KKR &amp; CO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>48251W104</cusip>
    <value>2459390</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26588</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>26588</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>LABCORP HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>504922105</cusip>
    <value>580254386</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2174785</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>2174785</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>LAMAR ADVERTISING CO</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>512816109</cusip>
    <value>59730196</value>
    <shrsOrPrnAmt>
      <sshPrnamt>471579</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>471579</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>LATTICE SEMICONDUCTOR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>518415104</cusip>
    <value>1046426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11281</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>11281</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>LEMAITRE VASCULAR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>525558201</cusip>
    <value>10968310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100470</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>100470</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>LIBERTY MEDIA CORP DEL</nameOfIssuer>
    <titleOfClass>COM LBTY ONE S C</titleOfClass>
    <cusip>531229755</cusip>
    <value>107354329</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1262695</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1262695</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>LINDBLAD EXPEDITIONS HLDGS I</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>535219109</cusip>
    <value>18304352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1058055</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1058055</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>LIQUIDITY SVCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>53635B107</cusip>
    <value>14131502</value>
    <shrsOrPrnAmt>
      <sshPrnamt>462267</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>462267</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LIVE NATION ENTERTAINMENT IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>538034109</cusip>
    <value>815082832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5344455</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>5318400</Sole>
      <Shared>0</Shared>
      <None>26055</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>LOAR HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM SHS</titleOfClass>
    <cusip>53947R105</cusip>
    <value>11666364</value>
    <shrsOrPrnAmt>
      <sshPrnamt>203637</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>203637</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MARKEL GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>570535104</cusip>
    <value>722835137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>377643</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>373285</Sole>
      <Shared>0</Shared>
      <None>4358</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MARTIN MARIETTA MATLS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>573284106</cusip>
    <value>608353686</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1033420</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1033420</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MERCURY SYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>589378108</cusip>
    <value>6085506</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83466</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>83466</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MESA LABS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>59064R109</cusip>
    <value>20856952</value>
    <shrsOrPrnAmt>
      <sshPrnamt>235885</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>235885</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>META PLATFORMS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>30303M102</cusip>
    <value>16479060</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28803</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>27396</Sole>
      <Shared>0</Shared>
      <None>1407</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>METTLER TOLEDO INTERNATIONAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>592688105</cusip>
    <value>12821359</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10166</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>10152</Sole>
      <Shared>0</Shared>
      <None>14</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MICROSOFT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>594918104</cusip>
    <value>77578378</value>
    <shrsOrPrnAmt>
      <sshPrnamt>209575</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>200336</Sole>
      <Shared>0</Shared>
      <None>9239</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MIDDLEBY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>596278101</cusip>
    <value>198931915</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500467</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1500467</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MIRION TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>60471A101</cusip>
    <value>19621150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1055468</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1055468</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MOODYS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>615369105</cusip>
    <value>21619678</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49558</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>47237</Sole>
      <Shared>0</Shared>
      <None>2321</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MOOG INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>615394202</cusip>
    <value>29490503</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100774</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>100745</Sole>
      <Shared>0</Shared>
      <None>29</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MORNINGSTAR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>617700109</cusip>
    <value>107807073</value>
    <shrsOrPrnAmt>
      <sshPrnamt>637723</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>637714</Sole>
      <Shared>0</Shared>
      <None>9</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MSCI INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55354G100</cusip>
    <value>21156142</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>37371</Sole>
      <Shared>0</Shared>
      <None>1879</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MYR GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55405W104</cusip>
    <value>14444056</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51162</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>51162</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NASDAQ INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>631103108</cusip>
    <value>472253766</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5563126</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>5400667</Sole>
      <Shared>0</Shared>
      <None>162459</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEPTUNE INS HLDGS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>64073B103</cusip>
    <value>6258534</value>
    <shrsOrPrnAmt>
      <sshPrnamt>258724</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>258724</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEWMONT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>651639106</cusip>
    <value>31544050</value>
    <shrsOrPrnAmt>
      <sshPrnamt>291400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>291400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NIKE INC</nameOfIssuer>
    <titleOfClass>CL B</titleOfClass>
    <cusip>654106103</cusip>
    <value>23761711</value>
    <shrsOrPrnAmt>
      <sshPrnamt>449862</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>428942</Sole>
      <Shared>0</Shared>
      <None>20920</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NIQ GLOBAL INTELLIGENCE PLC</nameOfIssuer>
    <titleOfClass>ORDINARY SHARES</titleOfClass>
    <cusip>G63755105</cusip>
    <value>27198109</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2392094</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1579534</Sole>
      <Shared>0</Shared>
      <None>812560</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NVIDIA CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67066G104</cusip>
    <value>157568656</value>
    <shrsOrPrnAmt>
      <sshPrnamt>903490</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>862446</Sole>
      <Shared>0</Shared>
      <None>41044</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OKLO INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>02156V109</cusip>
    <value>32099607</value>
    <shrsOrPrnAmt>
      <sshPrnamt>647300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>647300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ON HLDG AG</nameOfIssuer>
    <titleOfClass>NAMEN AKT A</titleOfClass>
    <cusip>H5919C104</cusip>
    <value>13465116</value>
    <shrsOrPrnAmt>
      <sshPrnamt>395800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>395800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ON HLDG AG</nameOfIssuer>
    <titleOfClass>NAMEN AKT A</titleOfClass>
    <cusip>H5919C104</cusip>
    <value>83903220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2466291</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>2466291</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ONESPAWORLD HOLDINGS LIMITED</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>P73684113</cusip>
    <value>38194905</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1664266</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1664078</Sole>
      <Shared>0</Shared>
      <None>188</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>OUTFRONT MEDIA INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>69007J304</cusip>
    <value>12210299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>460766</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>460766</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PACKAGING CORP AMER</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>695156109</cusip>
    <value>217109761</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1023041</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1023041</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PAYCHEX INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>704326107</cusip>
    <value>338087125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3670073</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>3640182</Sole>
      <Shared>0</Shared>
      <None>29891</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PELOTON INTERACTIVE INC</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>70614W100</cusip>
    <value>7758353</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1808474</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1806682</Sole>
      <Shared>0</Shared>
      <None>1792</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>POLARIS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>731068102</cusip>
    <value>1258950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>23100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>POLARIS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>731068102</cusip>
    <value>16950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>311</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>311</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PORTILLOS INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>73642K106</cusip>
    <value>6101486</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1153400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1153400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QUALCOMM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>747525103</cusip>
    <value>1715994</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13325</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>13325</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QUANTA SVCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74762E102</cusip>
    <value>144844103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>263823</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>259316</Sole>
      <Shared>0</Shared>
      <None>4507</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QXO INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>82846H405</cusip>
    <value>50433468</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2596986</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>2596986</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROBINHOOD MKTS INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>770700102</cusip>
    <value>44421300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>641000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>641000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROBLOX CORP</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>771049103</cusip>
    <value>37782080</value>
    <shrsOrPrnAmt>
      <sshPrnamt>668000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>668000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROBLOX CORP</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>771049103</cusip>
    <value>735</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>13</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROLLINS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>775711104</cusip>
    <value>254611986</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4767122</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>4767122</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>S&amp;P GLOBAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78409V104</cusip>
    <value>44899741</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105562</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>105531</Sole>
      <Shared>0</Shared>
      <None>31</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SALESFORCE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>79466L302</cusip>
    <value>27981833</value>
    <shrsOrPrnAmt>
      <sshPrnamt>149900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>149900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SALESFORCE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>79466L302</cusip>
    <value>93669139</value>
    <shrsOrPrnAmt>
      <sshPrnamt>501790</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>445720</Sole>
      <Shared>0</Shared>
      <None>56070</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SAP SE</nameOfIssuer>
    <titleOfClass>SPON ADR</titleOfClass>
    <cusip>803054204</cusip>
    <value>2635436</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15393</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>15393</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SERVICE CORP INTL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>817565104</cusip>
    <value>504445595</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6113751</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>6113740</Sole>
      <Shared>0</Shared>
      <None>11</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SERVICENOW INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>81762P102</cusip>
    <value>23567870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>225422</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>214328</Sole>
      <Shared>0</Shared>
      <None>11094</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SHOPIFY INC</nameOfIssuer>
    <titleOfClass>CL A SUB VTG SHS</titleOfClass>
    <cusip>82509L107</cusip>
    <value>27960395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>235714</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>229042</Sole>
      <Shared>0</Shared>
      <None>6672</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SIGNET JEWELERS LIMITED</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G81276100</cusip>
    <value>277180426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3274816</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>3274816</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SIMPSON MFG INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>829073105</cusip>
    <value>21017958</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122468</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>122468</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SKYWORKS SOLUTIONS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>83088M102</cusip>
    <value>822046</value>
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      <sshPrnamt>15351</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
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      <Sole>15238</Sole>
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      <None>113</None>
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    <nameOfIssuer>SOMNIGROUP INTERNATIONAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88023U101</cusip>
    <value>685527279</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9273908</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>9273908</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>SPOTIFY TECHNOLOGY S A</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>L8681T102</cusip>
    <value>177416931</value>
    <shrsOrPrnAmt>
      <sshPrnamt>365876</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>361167</Sole>
      <Shared>0</Shared>
      <None>4709</None>
    </votingAuthority>
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    <nameOfIssuer>SPS COMM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78463M107</cusip>
    <value>2333853</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41923</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>41910</Sole>
      <Shared>0</Shared>
      <None>13</None>
    </votingAuthority>
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    <nameOfIssuer>ST JOE CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>790148100</cusip>
    <value>80069246</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1274988</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1274988</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>STERIS PLC</nameOfIssuer>
    <titleOfClass>SHS USD</titleOfClass>
    <cusip>G8473T100</cusip>
    <value>473965398</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2143379</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>2143379</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>STRATEGY INC</nameOfIssuer>
    <titleOfClass>CL A NEW</titleOfClass>
    <cusip>594972408</cusip>
    <value>2907840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>23300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>TAIWAN SEMICONDUCTOR MANUFAC</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>874039100</cusip>
    <value>347387592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1027926</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>1000636</Sole>
      <Shared>0</Shared>
      <None>27290</None>
    </votingAuthority>
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    <nameOfIssuer>TELEDYNE TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>879360105</cusip>
    <value>120370370</value>
    <shrsOrPrnAmt>
      <sshPrnamt>198956</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>198942</Sole>
      <Shared>0</Shared>
      <None>14</None>
    </votingAuthority>
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    <nameOfIssuer>TELEFLEX INCORPORATED</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>879369106</cusip>
    <value>1556006</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13009</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>13009</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>THERMO FISHER SCIENTIFIC INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>883556102</cusip>
    <value>147213235</value>
    <shrsOrPrnAmt>
      <sshPrnamt>299500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>261472</Sole>
      <Shared>0</Shared>
      <None>38028</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>TRACTOR SUPPLY CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>892356106</cusip>
    <value>602329819</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13296464</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>13296464</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>TRANSDIGM GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>893641100</cusip>
    <value>55564019</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47943</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>47942</Sole>
      <Shared>0</Shared>
      <None>1</None>
    </votingAuthority>
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    <nameOfIssuer>TRANSUNION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89400J107</cusip>
    <value>8729979</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126174</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>75737</Sole>
      <Shared>0</Shared>
      <None>50437</None>
    </votingAuthority>
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    <nameOfIssuer>TRIMBLE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>896239100</cusip>
    <value>365670770</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5605868</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>5570643</Sole>
      <Shared>0</Shared>
      <None>35225</None>
    </votingAuthority>
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    <nameOfIssuer>UBER TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>90353T100</cusip>
    <value>8290364</value>
    <shrsOrPrnAmt>
      <sshPrnamt>115256</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>115256</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>UNION PAC CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>907818108</cusip>
    <value>30188479</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124427</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>118397</Sole>
      <Shared>0</Shared>
      <None>6030</None>
    </votingAuthority>
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    <nameOfIssuer>UNITED STS LIME &amp; MINERALS I</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>911922102</cusip>
    <value>52985995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>405681</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>405681</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>V F CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>918204108</cusip>
    <value>2951163</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>173700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>V F CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>918204108</cusip>
    <value>8461</value>
    <shrsOrPrnAmt>
      <sshPrnamt>498</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>498</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>VEEVA SYS INC</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>922475108</cusip>
    <value>1570927</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8943</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
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      <Sole>8860</Sole>
      <Shared>0</Shared>
      <None>83</None>
    </votingAuthority>
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    <nameOfIssuer>VERISK ANALYTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92345Y106</cusip>
    <value>79859703</value>
    <shrsOrPrnAmt>
      <sshPrnamt>420868</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>410317</Sole>
      <Shared>0</Shared>
      <None>10551</None>
    </votingAuthority>
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    <nameOfIssuer>VERRA MOBILITY CORP</nameOfIssuer>
    <titleOfClass>CL A COM STK</titleOfClass>
    <cusip>92511U102</cusip>
    <value>13592062</value>
    <shrsOrPrnAmt>
      <sshPrnamt>951159</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>951159</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>VIKING HOLDINGS LTD</nameOfIssuer>
    <titleOfClass>ORD SHS</titleOfClass>
    <cusip>G93A5A101</cusip>
    <value>793745876</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10802203</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>10705793</Sole>
      <Shared>0</Shared>
      <None>96410</None>
    </votingAuthority>
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    <nameOfIssuer>VISA INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>92826C839</cusip>
    <value>230802554</value>
    <shrsOrPrnAmt>
      <sshPrnamt>763640</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>673439</Sole>
      <Shared>0</Shared>
      <None>90201</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>WABTEC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>929740108</cusip>
    <value>730647622</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2923643</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>2894650</Sole>
      <Shared>0</Shared>
      <None>28993</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>WAYSTAR HLDG CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>946784105</cusip>
    <value>22259341</value>
    <shrsOrPrnAmt>
      <sshPrnamt>923241</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>923112</Sole>
      <Shared>0</Shared>
      <None>129</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>WHITE MTNS INS GROUP LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G9618E107</cusip>
    <value>23199898</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>10560</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>WILLIAMS SONOMA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>969904101</cusip>
    <value>42494377</value>
    <shrsOrPrnAmt>
      <sshPrnamt>233063</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>233063</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>WINMARK CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>974250102</cusip>
    <value>13001368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30409</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>30409</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>WORKDAY INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>98138H101</cusip>
    <value>84837500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>652998</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>576556</Sole>
      <Shared>0</Shared>
      <None>76442</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ZURN ELKAY WATER SOLNS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98983L108</cusip>
    <value>19244655</value>
    <shrsOrPrnAmt>
      <sshPrnamt>429185</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <otherManager>N/A</otherManager>
    <votingAuthority>
      <Sole>428438</Sole>
      <Shared>0</Shared>
      <None>747</None>
    </votingAuthority>
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</informationTable>
