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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M CO COM 88579Y101 11,464 77,000 SH   SOLE   77,000 0 0
3M CO COM 88579Y101 28,697 192,750 SH   DFND 1 192,750 0 0
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 22,628 67,100 SH   SOLE   67,100 0 0
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 31,126 92,300 SH   DFND 1 92,300 0 0
ACTIVISION BLIZZARD INC COM 00507V109 144 1,800 SH   SOLE   1,800 0 0
ACTIVISION BLIZZARD INC COM 00507V109 36,194 451,800 SH   DFND 1 451,800 0 0
ALLEGHANY CORP MD COM 017175100 3,666 4,328 SH   SOLE   4,328 0 0
ALLSTATE CORP COM 020002101 16,074 116,050 SH   DFND 1 116,050 0 0
ALPHABET INC CAP STK CL A 02079K305 9,178 3,300 SH   SOLE   3,300 0 0
ALPHABET INC CAP STK CL A 02079K305 33,932 12,200 SH   DFND 1 12,200 0 0
ALPHABET INC CAP STK CL C 02079K107 129,173 46,249 SH   SOLE   46,249 0 0
ALPHABET INC CAP STK CL C 02079K107 254,844 91,244 SH   DFND 1 91,244 0 0
AMAZON COM INC COM 023135106 108,882 33,400 SH   SOLE   33,400 0 0
AMAZON COM INC COM 023135106 214,074 65,668 SH   DFND 1 65,668 0 0
AMERICAN EXPRESS CO COM 025816109 1,870 10,000 SH   SOLE   10,000 0 0
AMERICAN EXPRESS CO COM 025816109 88,685 474,250 SH   DFND 1 474,250 0 0
AMERICAN TOWER CORP NEW COM 03027X100 251 1,000 SH   SOLE   1,000 0 0
AMERICAN TOWER CORP NEW COM 03027X100 12,790 50,910 SH   DFND 1 50,910 0 0
ANALOG DEVICES INC COM 032654105 40,909 247,665 SH   SOLE   247,665 0 0
ANALOG DEVICES INC COM 032654105 137,125 830,156 SH   DFND 1 830,156 0 0
AON PLC SHS CL A G0403H108 21,150 64,950 SH   DFND 1 64,950 0 0
APOLLO GLOBAL MGMT INC COM 03769M106 1,395 22,500 SH   SOLE   22,500 0 0
APOLLO GLOBAL MGMT INC COM 03769M106 61,370 990,000 SH   DFND 1 990,000 0 0
APPLE INC COM 037833100 8,416 48,200 SH   SOLE   48,200 0 0
APPLE INC COM 037833100 202,336 1,158,790 SH   DFND 1 1,158,790 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 53,614 594,000 SH   SOLE   594,000 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 78,463 869,300 SH   DFND 1 869,300 0 0
AXALTA COATING SYS LTD COM G0750C108 507 20,626 SH   DFND 1 20,626 0 0
BALL CORP COM 058498106 4,140 46,000 SH   DFND 1 46,000 0 0
BANK NEW YORK MELLON CORP COM 064058100 17,755 357,750 SH   DFND 1 357,750 0 0
BERKLEY W R CORP COM 084423102 2,697 40,500 SH   DFND 1 40,500 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 370,245 700 SH   SOLE   700 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 218,973 414 SH   DFND 1 414 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 389,775 1,104,460 SH   SOLE   1,104,460 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 150,873 427,511 SH   DFND 1 427,511 0 0
BLACKROCK INC COM 09247X101 9,170 12,000 SH   SOLE   12,000 0 0
BLACKROCK INC COM 09247X101 159,100 208,200 SH   DFND 1 208,200 0 0
BLACKSTONE INC COM 09260D107 4,379 34,500 SH   SOLE   34,500 0 0
BLACKSTONE INC COM 09260D107 151,630 1,194,500 SH   DFND 1 1,194,500 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 278,852 4,929,329 SH   SOLE   4,929,329 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 214,197 3,786,412 SH   DFND 1 3,786,412 0 0
BROOKFIELD ASSET MGMT REINS CL A EXCH LT VTG G16169107 1,411 24,674 SH   SOLE   24,674 0 0
BROOKFIELD ASSET MGMT REINS CL A EXCH LT VTG G16169107 2,026 35,427 SH   DFND 1 35,427 0 0
BROWN FORMAN CORP CL A 115637100 30,906 492,600 SH   SOLE   492,600 0 0
BROWN FORMAN CORP CL A 115637100 21,984 350,400 SH   DFND 1 350,400 0 0
BROWN FORMAN CORP CL B 115637209 15,197 226,750 SH   SOLE   226,750 0 0
BROWN FORMAN CORP CL B 115637209 16,583 247,437 SH   DFND 1 247,437 0 0
CABLE ONE INC COM 12685J105 7,614 5,200 SH   DFND 1 5,200 0 0
CARLYLE GROUP INC COM 14316J108 2,176 44,500 SH   SOLE   44,500 0 0
CARLYLE GROUP INC COM 14316J108 58,325 1,192,500 SH   DFND 1 1,192,500 0 0
CARRIER GLOBAL CORPORATION COM 14448C104 2,505 54,600 SH   SOLE   54,600 0 0
CARRIER GLOBAL CORPORATION COM 14448C104 8,275 180,400 SH   DFND 1 180,400 0 0
CATERPILLAR INC COM 149123101 42,224 189,500 SH   SOLE   189,500 0 0
CATERPILLAR INC COM 149123101 21,836 98,000 SH   DFND 1 98,000 0 0
CELANESE CORP DEL COM 150870103 686 4,800 SH   DFND 1 4,800 0 0
CISCO SYS INC COM 17275R102 8,252 148,000 SH   SOLE   148,000 0 0
CISCO SYS INC COM 17275R102 10,817 194,000 SH   DFND 1 194,000 0 0
COLFAX CORP COM 194014106 43,175 1,085,070 SH   SOLE   1,085,070 0 0
COLFAX CORP COM 194014106 1,990 50,000 SH   DFND 1 50,000 0 0
COMCAST CORP NEW CL A 20030N101 4,822 103,000 SH   SOLE   103,000 0 0
COMCAST CORP NEW CL A 20030N101 24,703 527,612 SH   DFND 1 527,612 0 0
COSTAR GROUP INC COM 22160N109 1,172 17,600 SH   DFND 1 17,600 0 0
COSTCO WHSL CORP NEW COM 22160K105 21,393 37,150 SH   SOLE   37,150 0 0
COSTCO WHSL CORP NEW COM 22160K105 1,152 2,000 SH   DFND 1 2,000 0 0
CROWN HLDGS INC COM 228368106 14,510 116,000 SH   DFND 1 116,000 0 0
CVS HEALTH CORP COM 126650100 202 2,000 SH   SOLE   2,000 0 0
CVS HEALTH CORP COM 126650100 33,399 330,000 SH   DFND 1 330,000 0 0
DEERE & CO COM 244199105 314,005 755,800 SH   DFND 1 755,800 0 0
DIAGEO PLC SPON ADR NEW 25243Q205 174,796 860,472 SH   SOLE   860,472 0 0
DIAGEO PLC SPON ADR NEW 25243Q205 99,485 489,736 SH   DFND 1 489,736 0 0
DISNEY WALT CO COM 254687106 117,153 854,133 SH   SOLE   854,133 0 0
DISNEY WALT CO COM 254687106 146,560 1,068,532 SH   DFND 1 1,068,532 0 0
DOLLAR GEN CORP NEW COM 256677105 27,996 125,750 SH   DFND 1 125,750 0 0
DUCK CREEK TECHNOLOGIES INC SHS 264120106 205 9,250 SH   DFND 1 9,250 0 0
EASTMAN CHEM CO COM 277432100 1,955 17,450 SH   DFND 1 17,450 0 0
ECOLAB INC COM 278865100 4,061 23,000 SH   SOLE   23,000 0 0
ECOLAB INC COM 278865100 50,549 286,300 SH   DFND 1 286,300 0 0
ELECTRONIC ARTS INC COM 285512109 2,138 16,900 SH   DFND 1 16,900 0 0
EQUIFAX INC COM 294429105 29,673 125,150 SH   DFND 1 125,150 0 0
FACTSET RESH SYS INC COM 303075105 9,985 23,000 SH   SOLE   23,000 0 0
FACTSET RESH SYS INC COM 303075105 40,689 93,720 SH   DFND 1 93,720 0 0
FEDEX CORP COM 31428X106 13,536 58,500 SH   DFND 1 58,500 0 0
GARTNER INC COM 366651107 744 2,500 SH   DFND 1 2,500 0 0
GENERAL DYNAMICS CORP COM 369550108 10,612 44,000 SH   SOLE   44,000 0 0
GENERAL DYNAMICS CORP COM 369550108 83,569 346,500 SH   DFND 1 346,500 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 16,242 49,204 SH   SOLE   49,204 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 97,266 294,656 SH   DFND 1 294,656 0 0
GRAHAM HLDGS CO COM CL B 384637104 3,180 5,200 SH   DFND 1 5,200 0 0
HANOVER INS GROUP INC COM 410867105 7,027 47,000 SH   DFND 1 47,000 0 0
HEALTHCARE SVCS GROUP INC COM 421906108 7,781 419,000 SH   SOLE   419,000 0 0
HEALTHCARE SVCS GROUP INC COM 421906108 14,512 781,500 SH   DFND 1 781,500 0 0
HEICO CORP NEW CL A 422806208 977 7,702 SH   SOLE   7,702 0 0
HEICO CORP NEW CL A 422806208 42,544 335,442 SH   DFND 1 335,442 0 0
HEXCEL CORP NEW COM 428291108 2,260 38,000 SH   SOLE   38,000 0 0
HEXCEL CORP NEW COM 428291108 8,980 151,000 SH   DFND 1 151,000 0 0
HOME DEPOT INC COM 437076102 124,850 417,098 SH   SOLE   417,098 0 0
HOME DEPOT INC COM 437076102 150,534 502,902 SH   DFND 1 502,902 0 0
ILLINOIS TOOL WKS INC COM 452308109 17,799 85,000 SH   SOLE   85,000 0 0
ILLINOIS TOOL WKS INC COM 452308109 50,780 242,500 SH   DFND 1 242,500 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 676 5,120 SH   DFND 1 5,120 0 0
INTERNATIONAL FLAVORS&FRAGRA COM 459506101 3,021 23,000 SH   DFND 1 23,000 0 0
INTUIT COM 461202103 1,308 2,720 SH   DFND 1 2,720 0 0
INVESTORS TITLE CO NC COM 461804106 43,345 213,300 SH   DFND 1 213,300 0 0
JOHNSON & JOHNSON COM 478160104 20,240 114,200 SH   SOLE   114,200 0 0
JOHNSON & JOHNSON COM 478160104 88,012 496,600 SH   DFND 1 496,600 0 0
JPMORGAN CHASE & CO COM 46625H100 29,520 216,550 SH   DFND 1 216,550 0 0
KKR & CO INC COM 48251W104 3,625 62,000 SH   SOLE   62,000 0 0
KKR & CO INC COM 48251W104 79,440 1,358,650 SH   DFND 1 1,358,650 0 0
LAMAR ADVERTISING CO NEW CL A 512816109 988 8,500 SH   DFND 1 8,500 0 0
LIBERTY BROADBAND CORP COM SER A 530307107 2,851 21,750 SH   SOLE   21,750 0 0
LIBERTY BROADBAND CORP COM SER A 530307107 24,050 183,500 SH   DFND 1 183,500 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 5,528 40,853 SH   SOLE   40,853 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 17,762 131,260 SH   DFND 1 131,260 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 77 3,000 SH   SOLE   3,000 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 4,490 176,000 SH   DFND 1 176,000 0 0
LIBERTY MEDIA CORP DEL COM A SIRIUSXM 531229409 2,377 52,000 SH   SOLE   52,000 0 0
LIBERTY MEDIA CORP DEL COM A SIRIUSXM 531229409 17,096 374,000 SH   DFND 1 374,000 0 0
LIBERTY MEDIA CORP DEL COM C SIRIUSXM 531229607 6,128 134,000 SH   SOLE   134,000 0 0
LIBERTY MEDIA CORP DEL COM C SIRIUSXM 531229607 17,743 388,000 SH   DFND 1 388,000 0 0
LINDE PLC SHS G5494J103 1,885 5,900 SH   SOLE   5,900 0 0
LINDE PLC SHS G5494J103 28,270 88,500 SH   DFND 1 88,500 0 0
LOCKHEED MARTIN CORP COM 539830109 4,574 10,363 SH   DFND 1 10,363 0 0
LOWES COS INC COM 548661107 51,963 257,000 SH   SOLE   257,000 0 0
LOWES COS INC COM 548661107 67,123 331,980 SH   DFND 1 331,980 0 0
MACOM TECH SOLUTIONS HLDGS I COM 55405Y100 3,532 59,000 SH   DFND 1 59,000 0 0
MARSH & MCLENNAN COS INC COM 571748102 2,982 17,500 SH   SOLE   17,500 0 0
MARSH & MCLENNAN COS INC COM 571748102 102,474 601,300 SH   DFND 1 601,300 0 0
MARVELL TECHNOLOGY INC COM 573874104 5,378 75,000 SH   DFND 1 75,000 0 0
MASTERCARD INCORPORATED CL A 57636Q104 12,866 36,000 SH   SOLE   36,000 0 0
MASTERCARD INCORPORATED CL A 57636Q104 61,305 171,540 SH   DFND 1 171,540 0 0
META PLATFORMS INC CL A 30303M102 4,138 18,610 SH   SOLE   18,610 0 0
META PLATFORMS INC CL A 30303M102 32,196 144,790 SH   DFND 1 144,790 0 0
MICROSOFT CORP COM 594918104 26,206 85,000 SH   SOLE   85,000 0 0
MICROSOFT CORP COM 594918104 121,776 394,980 SH   DFND 1 394,980 0 0
MOODYS CORP COM 615369105 35,091 104,000 SH   SOLE   104,000 0 0
MOODYS CORP COM 615369105 36,774 108,990 SH   DFND 1 108,990 0 0
MSCI INC COM 55354G100 503 1,000 SH   SOLE   1,000 0 0
MSCI INC COM 55354G100 70,755 140,700 SH   DFND 1 140,700 0 0
NIKE INC CL B 654106103 21,799 162,000 SH   SOLE   162,000 0 0
NIKE INC CL B 654106103 27,450 204,000 SH   DFND 1 204,000 0 0
NORFOLK SOUTHN CORP COM 655844108 20,821 73,000 SH   SOLE   73,000 0 0
NORFOLK SOUTHN CORP COM 655844108 44,637 156,500 SH   DFND 1 156,500 0 0
NOVO-NORDISK A S ADR 670100205 119,379 1,075,000 SH   SOLE   1,075,000 0 0
NVR INC COM 62944T105 447 100 SH   SOLE   100 0 0
NVR INC COM 62944T105 42,167 9,439 SH   DFND 1 9,439 0 0
O-I GLASS INC COM 67098H104 6,036 458,000 SH   DFND 1 458,000 0 0
OTIS WORLDWIDE CORP COM 68902V107 2,101 27,300 SH   SOLE   27,300 0 0
OTIS WORLDWIDE CORP COM 68902V107 6,719 87,320 SH   DFND 1 87,320 0 0
PAYCHEX INC COM 704326107 9,553 70,000 SH   SOLE   70,000 0 0
PAYCHEX INC COM 704326107 10,918 80,000 SH   DFND 1 80,000 0 0
PAYPAL HLDGS INC COM 70450Y103 1,220 10,551 SH   DFND 1 10,551 0 0
PEPSICO INC COM 713448108 16,104 96,210 SH   DFND 1 96,210 0 0
PHILIP MORRIS INTL INC COM 718172109 10,756 114,500 SH   DFND 1 114,500 0 0
PRICE T ROWE GROUP INC COM 74144T108 4,838 32,000 SH   SOLE   32,000 0 0
PRICE T ROWE GROUP INC COM 74144T108 42,636 282,000 SH   DFND 1 282,000 0 0
PROGRESSIVE CORP COM 743315103 6,839 60,000 SH   SOLE   60,000 0 0
PROGRESSIVE CORP COM 743315103 78,739 690,750 SH   DFND 1 690,750 0 0
RAYTHEON TECHNOLOGIES CORP COM 75513E101 5,409 54,600 SH   SOLE   54,600 0 0
RAYTHEON TECHNOLOGIES CORP COM 75513E101 16,782 169,400 SH   DFND 1 169,400 0 0
REGENERON PHARMACEUTICALS COM 75886F107 56,083 80,300 SH   DFND 1 80,300 0 0
RLI CORP COM 749607107 41,708 377,000 SH   SOLE   377,000 0 0
RLI CORP COM 749607107 90,747 820,272 SH   DFND 1 820,272 0 0
ROCKWELL AUTOMATION INC COM 773903109 2,212 7,900 SH   SOLE   7,900 0 0
ROCKWELL AUTOMATION INC COM 773903109 40,604 145,000 SH   DFND 1 145,000 0 0
ROLLINS INC COM 775711104 1,927 54,975 SH   SOLE   54,975 0 0
ROLLINS INC COM 775711104 41,825 1,193,300 SH   DFND 1 1,193,300 0 0
S&P GLOBAL INC COM 78409V104 410 1,000 SH   SOLE   1,000 0 0
S&P GLOBAL INC COM 78409V104 61,031 148,790 SH   DFND 1 148,790 0 0
SCHWAB CHARLES CORP COM 808513105 10,370 123,000 SH   SOLE   123,000 0 0
SCHWAB CHARLES CORP COM 808513105 81,975 972,300 SH   DFND 1 972,300 0 0
SCOTTS MIRACLE-GRO CO CL A 810186106 799 6,500 SH   DFND 1 6,500 0 0
SEI INVTS CO COM 784117103 3,552 59,000 SH   SOLE   59,000 0 0
SEI INVTS CO COM 784117103 23,253 386,200 SH   DFND 1 386,200 0 0
SHERWIN WILLIAMS CO COM 824348106 23,507 94,172 SH   DFND 1 94,172 0 0
SHOPIFY INC CL A 82509L107 1,859 2,750 SH   DFND 1 2,750 0 0
SONY GROUP CORPORATION SPONSORED ADR 835699307 1,643 16,000 SH   DFND 1 16,000 0 0
SPOTIFY TECHNOLOGY S A SHS L8681T102 1,948 12,900 SH   DFND 1 12,900 0 0
STARBUCKS CORP COM 855244109 3,684 40,500 SH   SOLE   40,500 0 0
STARBUCKS CORP COM 855244109 44,468 488,818 SH   DFND 1 488,818 0 0
STERICYCLE INC COM 858912108 1,473 25,000 SH   SOLE   25,000 0 0
STERICYCLE INC COM 858912108 35,747 606,700 SH   DFND 1 606,700 0 0
TEXAS INSTRS INC COM 882508104 32,292 176,000 SH   SOLE   176,000 0 0
TEXAS INSTRS INC COM 882508104 100,547 548,000 SH   DFND 1 548,000 0 0
TEXAS PACIFIC LAND CORPORATI COM 88262P102 10,682 7,900 SH   DFND 1 7,900 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 1,152 1,950 SH   DFND 1 1,950 0 0
TRANSUNION COM 89400J107 310 3,000 SH   SOLE   3,000 0 0
TRANSUNION COM 89400J107 9,616 93,050 SH   DFND 1 93,050 0 0
TRUPANION INC COM 898202106 446 5,000 SH   SOLE   5,000 0 0
TRUPANION INC COM 898202106 11,443 128,400 SH   DFND 1 128,400 0 0
TYSON FOODS INC CL A 902494103 448 5,000 SH   SOLE   5,000 0 0
TYSON FOODS INC CL A 902494103 34,015 379,500 SH   DFND 1 379,500 0 0
UNION PAC CORP COM 907818108 3,033 11,100 SH   SOLE   11,100 0 0
UNION PAC CORP COM 907818108 20,403 74,678 SH   DFND 1 74,678 0 0
VERISK ANALYTICS INC COM 92345Y106 215 1,000 SH   SOLE   1,000 0 0
VERISK ANALYTICS INC COM 92345Y106 16,205 75,500 SH   DFND 1 75,500 0 0
VISA INC COM CL A 92826C839 41,271 186,100 SH   SOLE   186,100 0 0
VISA INC COM CL A 92826C839 171,873 775,005 SH   DFND 1 775,005 0 0
WATSCO INC COM 942622200 8,256 27,100 SH   SOLE   27,100 0 0
WATSCO INC COM 942622200 119,312 391,650 SH   DFND 1 391,650 0 0
WELLS FARGO CO NEW COM 949746101 1,551 32,000 SH   SOLE   32,000 0 0
WELLS FARGO CO NEW COM 949746101 7,921 163,450 SH   DFND 1 163,450 0 0
WHIRLPOOL CORP COM 963320106 904 5,230 SH   SOLE   5,230 0 0
WHIRLPOOL CORP COM 963320106 47,829 276,819 SH   DFND 1 276,819 0 0
WILLIS TOWERS WATSON PLC LTD SHS G96629103 484 2,050 SH   DFND 1 2,050 0 0