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 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALPHABET INC Class A 02079K305   104,533,000 430,000 SH   SOLE   430,000 0 0
AMAZON COM INC Common 023135106   57,088,200 260,000 SH   SOLE   260,000 0 0
AMERICAN EXPRESS CO Common 025816109   46,502,400 140,000 SH   SOLE   140,000 0 0
ANALOG DEVICES INC Common 032654105   88,452,000 360,000 SH   SOLE   360,000 0 0
AON PLC Class A G0403H108   35,658,000 100,000 SH   SOLE   100,000 0 0
BRADY CORP Class A 104674106   15,606,000 200,000 SH   SOLE   200,000 0 0
CAPITAL ONE FINL CORP Common 14040H105   71,214,300 335,000 SH   SOLE   335,000 0 0
CHEVRON CORP NEW Common 166764100   39,793,063 256,250 SH   SOLE   256,250 0 0
COHERENT CORP Common 19247G107   21,544,000 200,000 SH   SOLE   200,000 0 0
GALLAGHER ARTHUR J & CO Common 363576109   32,522,700 105,000 SH   SOLE   105,000 0 0
JOHNSON & JOHNSON Common 478160104   14,833,600 80,000 SH   SOLE   80,000 0 0
JPMORGAN CHASE & CO. Common 46625H100   44,160,200 140,000 SH   SOLE   140,000 0 0
KEYSIGHT TECHNOLOGIES INC Common 49338L103   34,984,000 200,000 SH   SOLE   200,000 0 0
MEDTRONIC PLC Common G5960L103   23,810,000 250,000 SH   SOLE   250,000 0 0
MERCADOLIBRE INC Common 58733R102   30,380,220 13,000 SH   SOLE   13,000 0 0
MERCK & CO INC Common 58933Y105   12,589,500 150,000 SH   SOLE   150,000 0 0
META PLATFORMS INC Class A 30303M102   66,094,200 90,000 SH   SOLE   90,000 0 0
MICROSOFT CORP Common 594918104   41,436,000 80,000 SH   SOLE   80,000 0 0
MOTOROLA SOLUTIONS INC Common 620076307   64,020,600 140,000 SH   SOLE   140,000 0 0
NIKE INC Common 654106103   31,378,500 450,000 SH   SOLE   450,000 0 0
PROGRESSIVE CORP Common 743315103   98,780,000 400,000 SH   SOLE   400,000 0 0
RAYONIER INC Common 754907103   31,887,120 1,201,474 SH   SOLE   1,201,474 0 0
ROPER TECHNOLOGIES INC Common 776696106   24,934,500 50,000 SH   SOLE   50,000 0 0
SCHWAB CHARLES CORP Common 808513105   76,376,000 800,000 SH   SOLE   800,000 0 0
TAIWAN SEMICONDUCTOR MFG LTD ADR 874039100   22,343,200 80,000 SH   SOLE   80,000 0 0
TELEDYNE TECHNOLOGIES INC common 879360105   41,022,800 70,000 SH   SOLE   70,000 0 0
TWFG INC Class A 87318A101   12,348,000 450,000 SH   SOLE   450,000 0 0
VISA INC Common Class A 92826C839   25,603,500 75,000 SH   SOLE   75,000 0 0
WILLSCOT HLDGS CORP Common 971378104   4,749,750 225,000 SH   SOLE   225,000 0 0