The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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
ACCENTURE PLC IRELAND SHS CLASS A G1151C101   39,591,630 160,550 SH   SOLE   160,550 0 0
ACI WORLDWIDE INC COM 004498101   19,356,036 366,800 SH   SOLE   366,800 0 0
ALPHABET INC CAP STK CL C 02079K107   107,308,130 440,600 SH   SOLE   440,600 0 0
AMAZON COM INC COM 023135106   48,854,325 222,500 SH   SOLE   222,500 0 0
ANALOG DEVICES INC COM 032654105   34,226,010 139,300 SH   SOLE   139,300 0 0
AON PLC SHS CL A G0403H108   76,112,001 213,450 SH   SOLE   213,450 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   144,210,969 286,850 SH   SOLE   286,850 0 0
BIO-TECHNE CORP COM 09073M104   44,623,605 802,150 SH   SOLE   802,150 0 0
CARMAX INC COM 143130102   29,138,578 649,400 SH   SOLE   649,400 0 0
CDW CORP COM 12514G108   5,678,332 35,650 SH   SOLE   35,650 0 0
CHARTER COMMUNICATIONS INC CL A 16119P108   28,227,149 102,605 SH   SOLE   102,605 0 0
COMCAST CORP NEW CL A 20030N101   14,186,130 451,500 SH   SOLE   451,500 0 0
CORECARD CORPORATION COM 45816D100   13,863,800 515,000 SH   SOLE   515,000 0 0
COSTAR GROUP INC COM 22160N109   60,733,745 719,850 SH   SOLE   719,850 0 0
DANAHER CORPORATION COM 235851102   104,473,107 526,950 SH   SOLE   526,950 0 0
DIAGEO PLC SPON ADR NEW 25243Q205   2,700,669 28,300 SH   SOLE   28,300 0 0
EQUIFAX INC COM 294429105   55,051,338 214,600 SH   SOLE   214,600 0 0
FORTIVE CORP COM 34959J108   2,273,136 46,400 SH   SOLE   46,400 0 0
GARTNER INC COM 366651107   28,225,666 107,375 SH   SOLE   107,375 0 0
GCI LIBERTY INC COM SER A 36164V602   1,051,540 28,000 SH   SOLE   28,000 0 0
GCI LIBERTY INC COM SER C 36164V800   3,730,727 100,100 SH   SOLE   100,100 0 0
GLOBAL PMTS INC COM 37940X102   45,694,000 550,000 SH   SOLE   550,000 0 0
HEICO CORP NEW CL A 422806208   41,360,516 162,779 SH   SOLE   162,779 0 0
IDEX CORP COM 45167R104   66,157,871 406,475 SH   SOLE   406,475 0 0
IDEXX LABS INC COM 45168D104   36,288,952 56,800 SH   SOLE   56,800 0 0
LABCORP HOLDINGS INC COM SHS 504922105   40,116,635 139,750 SH   SOLE   139,750 0 0
LIBERTY BROADBAND CORP COM SER A 530307107   8,866,200 140,000 SH   SOLE   140,000 0 0
LIBERTY BROADBAND CORP COM SER C 530307305   31,801,770 500,500 SH   SOLE   500,500 0 0
LINDE PLC SHS G54950103   3,277,500 6,900 SH   SOLE   6,900 0 0
LKQ CORP COM 501889208   16,308,360 534,000 SH   SOLE   534,000 0 0
MARTIN MARIETTA MATLS INC COM 573284106   26,014,807 41,275 SH   SOLE   41,275 0 0
MASTERCARD INCORPORATED CL A 57636Q104   88,677,479 155,900 SH   SOLE   155,900 0 0
MERCADOLIBRE INC COM 58733R102   8,646,678 3,700 SH   SOLE   3,700 0 0
META PLATFORMS INC CL A 30303M102   79,834,450 108,710 SH   SOLE   108,710 0 0
MICROSOFT CORP COM 594918104   79,751,351 153,975 SH   SOLE   153,975 0 0
OLD DOMINION FREIGHT LINE IN COM 679580100   29,352,630 208,500 SH   SOLE   208,500 0 0
ORACLE CORP COM 68389X105   19,686,800 70,000 SH   SOLE   70,000 0 0
PERIMETER SOLUTIONS INC COM 71385M107   16,679,923 744,972 SH   SOLE   744,972 0 0
ROPER TECHNOLOGIES INC COM 776696106   15,671,333 31,425 SH   SOLE   31,425 0 0
RWT HLDGS INC NOTE 5.750%10/0 749772AD1   3,507,000 3,500,000 SH   SOLE   3,500,000 0 0
S&P GLOBAL INC COM 78409V104   3,475,109 7,140 SH   SOLE   7,140 0 0
SALESFORCE COM INC COM 79466L302   20,737,500 87,500 SH   SOLE   87,500 0 0
SIRIUSXM HOLDINGS INC COMMON STOCK 829933100   32,212,600 1,384,000 SH   SOLE   1,384,000 0 0
TEXAS INSTRS INC COM 882508104   30,237,365 164,575 SH   SOLE   164,575 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102   72,971,259 150,450 SH   SOLE   150,450 0 0
VERALTO CORP COM SHS 92338C103   3,997,875 37,500 SH   SOLE   37,500 0 0
VISA INC COM CL A 92826C839   92,370,600 270,580 SH   SOLE   270,580 0 0
VULCAN MATLS CO COM 929160109   65,430,774 212,700 SH   SOLE   212,700 0 0