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
ALPHABET INC CAP STK CL C 02079K107 4,340,787 2,953,720 SH   SOLE   2,953,720 0 0
ALPHABET INC CAP STK CL A 02079K305 905,772 618,021 SH   SOLE   618,021 0 0
AMAZON COM INC COM 023135106 8,816 2,800 SH   SOLE   2,800 0 0
BOSTON PROPERTIES INC COM 101121101 416,500 5,186,802 SH   SOLE   5,186,802 0 0
CANADIAN NATL RY CO COM 136375102 2,214,569 20,802,265 SH   SOLE   20,802,265 0 0
CANADIAN PAC RY LTD COM 13645T100 3,398,174 11,172,077 SH   SOLE   11,172,077 0 0
CHARTER COMMUNICATIONS INC N CL A 16119P108 6,499,820 10,410,705 SH   SOLE   10,410,705 0 0
MICROSOFT CORP COM 594918104 3,010,769 14,314,499 SH   SOLE   14,314,499 0 0
MOODYS CORP COM 615369105 1,899,529 6,553,490 SH   SOLE   6,553,490 0 0
S&P GLOBAL INC COM 78409V104 851,843 2,362,294 SH   SOLE   2,362,294 0 0
UNION PAC CORP COM 907818108 1,184,476 6,016,539 SH   SOLE   6,016,539 0 0
VISA INC COM CL A 92826C839 2,811,156 14,057,890 SH   SOLE   14,057,890 0 0
VORNADO RLTY TR SH BEN INT 929042109 334,623 9,926,516 SH   SOLE   9,926,516 0 0