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

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COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
ALPHABET INCCAP STK CL C02079K1075,172,0882,952,307SH SOLE 2,952,30700
ALPHABET INCCAP STK CL A02079K3051,083,168618,021SH SOLE 618,02100
AMAZON COM INCCOM0231351069,1192,800SH SOLE 2,80000
BOSTON PROPERTIES INCCOM101121101790,4638,362,038SH SOLE 8,362,03800
CANADIAN NATL RY COCOM1363751022,282,52020,773,418SH SOLE 20,773,41800
CANADIAN PAC RY LTDCOM13645T1003,873,60411,172,077SH SOLE 11,172,07700
CHARTER COMMUNICATIONS INC NCL A16119P1086,887,20210,410,705SH SOLE 10,410,70500
MICROSOFT CORPCOM5949181043,183,83114,314,499SH SOLE 14,314,49900
MOODYS CORPCOM6153691051,902,0856,553,490SH SOLE 6,553,49000
S&P GLOBAL INCCOM78409V104776,5572,362,294SH SOLE 2,362,29400
UNION PAC CORPCOM9078181081,252,7646,016,539SH SOLE 6,016,53900
VISA INCCOM CL A92826C8393,074,88214,057,890SH SOLE 14,057,89000
VORNADO RLTY TRSH BEN INT929042109183,1444,904,776SH SOLE 4,904,77600