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		<nameOfIssuer>API GROUP CORP</nameOfIssuer>
		<titleOfClass>COM STK</titleOfClass>
		<cusip>00187Y100</cusip>
		<value>20139789</value>
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			<None>0</None>
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		<nameOfIssuer>COMPASS INC</nameOfIssuer>
		<titleOfClass>CL A</titleOfClass>
		<cusip>20464U100</cusip>
		<value>1667028</value>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<Sole>207600</Sole>
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			<None>0</None>
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		<nameOfIssuer>FERRARI N V</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>N3167Y103</cusip>
		<value>27074791</value>
		<shrsOrPrnAmt>
			<sshPrnamt>55799</sshPrnamt>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>55799</Sole>
			<Shared>0</Shared>
			<None>0</None>
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		<nameOfIssuer>HEICO CORP NEW</nameOfIssuer>
		<titleOfClass>CL A</titleOfClass>
		<cusip>422806208</cusip>
		<value>20531742</value>
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			<sshPrnamt>80805</sshPrnamt>
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		<investmentDiscretion>SOLE</investmentDiscretion>
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			<None>0</None>
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		<nameOfIssuer>INTERACTIVE BROKERS GROUP IN</nameOfIssuer>
		<titleOfClass>COM CL A</titleOfClass>
		<cusip>45841N107</cusip>
		<value>23256748</value>
		<shrsOrPrnAmt>
			<sshPrnamt>337985</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>337985</Sole>
			<Shared>0</Shared>
			<None>0</None>
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		<nameOfIssuer>MOODYS CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>615369105</cusip>
		<value>11085307</value>
		<shrsOrPrnAmt>
			<sshPrnamt>23265</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>23265</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>ROPER TECHNOLOGIES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>776696106</cusip>
		<value>14917314</value>
		<shrsOrPrnAmt>
			<sshPrnamt>29913</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>29913</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>TRANSUNION</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>89400J107</cusip>
		<value>17323107</value>
		<shrsOrPrnAmt>
			<sshPrnamt>206769</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>206769</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>ZOETIS INC</nameOfIssuer>
		<titleOfClass>CL A</titleOfClass>
		<cusip>98978V103</cusip>
		<value>1837048</value>
		<shrsOrPrnAmt>
			<sshPrnamt>12555</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>12555</Sole>
			<Shared>0</Shared>
			<None>0</None>
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