Q3 2025 Holdings
Filed 2025-11-12 | 57 holdings | $9.5B | 13F-HR | View on SEC ↗ · Holdings Table ↗
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| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Microsoft Corp(MSFT) | COM | 594918104 | $429.8M | 829,810 | 4.5% |
| Gallagher Arthur J & Co(AJG) | COM | 363576109 | $331.4M | 1,069,901 | 3.5% |
| Live Nation Entertainment in(LYV) | COM | 538034109 | $330.5M | 2,022,600 | 3.5% |
| Intuit(INTU) | COM | 461202103 | $305.6M | 447,545 | 3.2% |
| Liberty Media Corp del(FWONK) | COM LBTY ONE S C | 531229755 | $297.1M | 2,844,413 | 3.1% |
| CRH PLC(CRH) | ORD | G25508105 | $290.5M | 2,422,811 | 3.1% |
| Mastercard Incorporated(MA) | CL A | 57636Q104 | $287.8M | 505,890 | 3.0% |
| Accenture PLC Ireland(ACN) | SHS CLASS A | G1151C101 | $286.4M | 1,161,298 | 3.0% |
| S&P Global Inc(SPGI) | COM | 78409V104 | $279.4M | 574,120 | 2.9% |
| API Group Corp(APG) | COM STK | 00187Y100 | $259.2M | 7,540,068 | 2.7% |
| Royal Gold Inc(RGLD) | COM | 780287108 | $235.9M | 1,176,330 | 2.5% |
| Canadian Pacific Kansas City(CP) | COM | 13646K108 | $231.1M | 3,102,796 | 2.4% |
| Berkshire Hathaway Inc del(BRK/B) | CL B NEW | 084670702 | $216.6M | 430,836 | 2.3% |
| Texas Instrs Inc(TXN) | COM | 882508104 | $216.2M | 1,176,631 | 2.3% |
| Marsh & Mclennan COS Inc(MRSH) | COM | 571748102 | $214.8M | 1,065,967 | 2.3% |
| West Pharmaceutical Svsc Inc(WST) | COM | 955306105 | $210.4M | 802,106 | 2.2% |
| Schwab Charles Corp(SCHW) | COM | 808513105 | $200.0M | 2,095,269 | 2.1% |
| Agilent Technologies Inc(A) | COM | 00846U101 | $199.0M | 1,550,548 | 2.1% |
| XPO Inc(XPO) | COM | 983793100 | $192.7M | 1,490,400 | 2.0% |
| EOG RES Inc(EOG) | COM | 26875P101 | $185.4M | 1,653,409 | 1.9% |
| Steris PLC(STE) | SHS USD | G8473T100 | $184.9M | 747,152 | 1.9% |
| United Rentals Inc(URI) | COM | 911363109 | $183.7M | 192,436 | 1.9% |
| Waters Corp(WAT) | COM | 941848103 | $165.2M | 551,069 | 1.7% |
| Conocophillips(COP) | COM | 20825C104 | $164.5M | 1,739,071 | 1.7% |
| Sherwin Williams Co(SHW) | COM | 824348106 | $163.8M | 472,912 | 1.7% |
| Intercontinental Exchange in(ICE) | COM | 45866F104 | $163.7M | 971,869 | 1.7% |
| Medpace Hldgs Inc(MEDP) | COM | 58506Q109 | $155.4M | 302,300 | 1.6% |
| Thermo Fisher Scientific Inc(TMO) | COM | 883556102 | $153.6M | 316,620 | 1.6% |
| KLA Corp(KLAC) | COM NEW | 482480100 | $153.0M | 141,882 | 1.6% |
| Ferguson Enterprises Inc(FERG) | COMMON STOCK NEW | 31488V107 | $145.4M | 647,510 | 1.5% |
| Canadian Natl RY Co(CNI) | COM | 136375102 | $138.0M | 1,463,768 | 1.4% |
| Martin Marietta Matls Inc(MLM) | COM | 573284106 | $136.8M | 217,042 | 1.4% |
| Equifax Inc(EFX) | COM | 294429105 | $135.9M | 529,600 | 1.4% |
| ITT Inc(ITT) | COM | 45073V108 | $134.8M | 754,200 | 1.4% |
| Aecom(ACM) | COM | 00766T100 | $131.5M | 1,008,027 | 1.4% |
| Hilton Worldwide Hldgs Inc(HLT) | COM | 43300A203 | $128.9M | 496,874 | 1.4% |
| Waste Connections Inc(WCN) | COM | 94106B101 | $126.9M | 721,958 | 1.3% |
| Cooper COS Inc(COO) | COM | 216648501 | $122.3M | 1,783,400 | 1.3% |
| Teledyne Technologies Inc(TDY) | COM | 879360105 | $121.3M | 206,939 | 1.3% |
| Keysight Technologies Inc(KEYS) | COM | 49338L103 | $118.8M | 679,452 | 1.2% |
| Ecolab Inc(ECL) | COM | 278865100 | $118.4M | 432,484 | 1.2% |
| Applied Matls Inc(AMAT) | COM | 038222105 | $113.5M | 554,500 | 1.2% |
| Marketaxess Hldgs Inc(MKTX) | COM | 57060D108 | $112.3M | 644,700 | 1.2% |
| Msci Inc(MSCI) | COM | 55354G100 | $111.1M | 195,800 | 1.2% |
| Danaher Corporation(DHR) | COM | 235851102 | $109.9M | 554,500 | 1.2% |
| Autodesk Inc(ADSK) | COM | 052769106 | $101.9M | 320,699 | 1.1% |
| Cbre Group Inc(CBRE) | CL A | 12504L109 | $98.1M | 622,516 | 1.0% |
| Spotify Technology S A(SPOT) | SHS | L8681T102 | $84.4M | 120,900 | 0.9% |
| Analog Devices Inc(ADI) | COM | 032654105 | $78.6M | 319,918 | 0.8% |
| Etsy Inc(ETSY) | COM | 29786A106 | $77.8M | 1,171,500 | 0.8% |