# EDGAR Filing Document

**Accession Number:** 0000909151
**File Stem:** 0001398344-23-002884
**Filing Date:** 2023-2
**Character Count:** 17185
**Document Hash:** 4c7f260681b75a32b513cdeab8ec421d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-23-002884.hdr.sgml**: 20230213

**ACCESSION NUMBER**: 0001398344-23-002884

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230213

**DATE AS OF CHANGE**: 20230213

**EFFECTIVENESS DATE**: 20230213

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SCHWARTZ INVESTMENT COUNSEL INC
- **CENTRAL INDEX KEY:** 0000909151
- **IRS NUMBER:** 382325495
- **STATE OF INCORPORATION:** MI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-05434
- **FILM NUMBER:** 23616104

**BUSINESS ADDRESS:**
- **STREET 1:** 801 W. ANN ARBOR TRAIL
- **STREET 2:** SUITE 244
- **CITY:** PLYMOUTH
- **STATE:** MI
- **ZIP:** 48170
- **BUSINESS PHONE:** 734-455-7777

**MAIL ADDRESS:**
- **STREET 1:** 801 W. ANN ARBOR TRAIL
- **STREET 2:** SUITE 244
- **CITY:** PLYMOUTH
- **STATE:** MI
- **ZIP:** 48170

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** SCHWARTZ INVESTMENT COUNSEL INC<br>**Address:** 801 W. ANN ARBOR TRAIL<br>SUITE 244<br>PLYMOUTH, MI 48170

**Form 13F File Number:** 028-05434

**CRD Number (if applicable):** 000104693

**SEC File Number (if applicable):** 801-32773

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** George P. Schwartz<br>**Title:** Chief Executive Officer<br>**Phone:** 734-455-7777

**Signature, Place, and Date of Signing:**

/s/ George P. Schwartz  Plymouth, MI  02-13-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 137

**Form 13F Information Table Value Total:** $2202296313

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ALLEGION PLC | ORD SHS | G0176J109 |  | 3947250 | 37500 | SH |  | SOLE |  | 37500 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CL A | G1151C101 |  | 52087168 | 195200 | SH |  | SOLE |  | 195200 | 0 | 0 |
| BROOKFIELD REINS LTD | CL A EXCH LT VTG | G16250105 |  | 2244682 | 71738 | SH |  | SOLE |  | 71738 | 0 | 0 |
| COCA COLA EUROPEAN PARTNERS | SHS | G25839104 |  | 28213200 | 510000 | SH |  | SOLE |  | 510000 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 2696558 | 17181 | SH |  | SOLE |  | 17181 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 30784892 | 396100 | SH |  | SOLE |  | 396100 | 0 | 0 |
| RICE ACQUISITION CORP II | SHS CL A | G75529100 |  | 1480711 | 145596 | SH |  | SOLE |  | 145596 | 0 | 0 |
| SAPIENS INTL CORP N V | SHS | G7T16G103 |  | 474049 | 25652 | SH |  | SOLE |  | 25652 | 0 | 0 |
| STONECO LTD | COM CL A | G85158106 |  | 704224 | 74600 | SH |  | SOLE |  | 74600 | 0 | 0 |
| ALCON INC | ORD SHS | H01301128 |  | 9424460 | 137483 | SH |  | SOLE |  | 137483 | 0 | 0 |
| CHUBB LIMITED | COM | H1467J104 |  | 45388450 | 205750 | SH |  | SOLE |  | 205750 | 0 | 0 |
| GARMIN LTD | SHS | H2906T109 |  | 230725 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| TE CONNECTIVITY LTD | SHS | H84989104 |  | 1819580 | 15850 | SH |  | SOLE |  | 15850 | 0 | 0 |
| ARDAGH METAL PACKAGING S A | SHS | L02235106 |  | 18385629 | 3822376 | SH |  | SOLE |  | 3822376 | 0 | 0 |
| ORION ENGINEERED CARBONS S A | COM | L72967109 |  | 2246856 | 126157 | SH |  | SOLE |  | 126157 | 0 | 0 |
| CORE LABORATORIES N V | COM | N22717107 |  | 6447887 | 318100 | SH |  | SOLE |  | 318100 | 0 | 0 |
| STEVANATO GROUP S P A | ORD SHS | T9224W109 |  | 2021284 | 112481 | SH |  | SOLE |  | 112481 | 0 | 0 |
| KAROOOOO LTD | ORD SHS | Y4600W108 |  | 857626 | 36808 | SH |  | SOLE |  | 36808 | 0 | 0 |
| AMMO INC | COM | 00175J107 |  | 870190 | 503000 | SH |  | SOLE |  | 503000 | 0 | 0 |
| API GROUP CORP | COM STK | 00187Y100 |  | 39185161 | 2083209 | SH |  | SOLE |  | 2083209 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 298332 | 1846 | SH |  | SOLE |  | 1846 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 22021800 | 340000 | SH |  | SOLE |  | 340000 | 0 | 0 |
| U HAUL HOLDING COMPANY | COM | 023586100 |  | 710242 | 11800 | SH |  | SOLE |  | 11800 | 0 | 0 |
| U HAUL HOLDING COMPANY | COM SER N | 023586506 |  | 5838876 | 106200 | SH |  | SOLE |  | 106200 | 0 | 0 |
| ANSYS INC | COM | 03662Q105 |  | 26981254 | 111682 | SH |  | SOLE |  | 111682 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 812063 | 6250 | SH |  | SOLE |  | 6250 | 0 | 0 |
| APTARGROUP INC | COM | 038336103 |  | 35743500 | 325000 | SH |  | SOLE |  | 325000 | 0 | 0 |
| BARRICK GOLD CORPORATION | COM | 067901108 |  | 3612954 | 210300 | SH |  | SOLE |  | 210300 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 937422 | 2 | SH |  | SOLE |  | 2 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 1919814 | 6215 | SH |  | SOLE |  | 6215 | 0 | 0 |
| BOOKING HLDGS INC | COM | 09857L108 |  | 8061120 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| BOWLERO CORP | CL A COM | 10258P102 |  | 6599458 | 489574 | SH |  | SOLE |  | 489574 | 0 | 0 |
| BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 |  | 37214369 | 277450 | SH |  | SOLE |  | 277450 | 0 | 0 |
| BROOKFIELD CORP | CL A LTD VT SH | 11271J107 |  | 37091309 | 1178999 | SH |  | SOLE |  | 1178999 | 0 | 0 |
| BROOKFIELD ASSET MANAGMT LTD | CL A LMT VTG SHS | 113004105 |  | 10233728 | 356949 | SH |  | SOLE |  | 356949 | 0 | 0 |
| BROWN  BROWN INC | COM | 115236101 |  | 19794227 | 347450 | SH |  | SOLE |  | 347450 | 0 | 0 |
| BROWN FORMAN CORP | CL B | 115637209 |  | 356314 | 5425 | SH |  | SOLE |  | 5425 | 0 | 0 |
| CDW CORP | COM | 12514G108 |  | 6669963 | 37350 | SH |  | SOLE |  | 37350 | 0 | 0 |
| CME GROUP INC | COM | 12572Q105 |  | 8811584 | 52400 | SH |  | SOLE |  | 52400 | 0 | 0 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 1188800 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| CHEMED CORP NEW | COM | 16359R103 |  | 57472376 | 112596 | SH |  | SOLE |  | 112596 | 0 | 0 |
| CHESAPEAKE ENERGY CORP | COM | 165167735 |  | 35039581 | 371300 | SH |  | SOLE |  | 371300 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 67159055 | 374166 | SH |  | SOLE |  | 374166 | 0 | 0 |
| COPART INC | COM | 217204106 |  | 52554159 | 863100 | SH |  | SOLE |  | 863100 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 235818 | 550 | SH |  | SOLE |  | 550 | 0 | 0 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 1242502 | 20200 | SH |  | SOLE |  | 20200 | 0 | 0 |
| DIGITALBRIDGE GROUP INC | CL A COM | 25401T603 |  | 4828271 | 441341 | SH |  | SOLE |  | 441341 | 0 | 0 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 1466160 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| EQUINIX INC | COM | 29444U700 |  | 52160039 | 79630 | SH |  | SOLE |  | 79630 | 0 | 0 |
| F ANNUITIES  LIFE INC | COMMON STOCK | 30190A104 |  | 1806583 | 90284 | SH |  | SOLE |  | 90284 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 11664225 | 105750 | SH |  | SOLE |  | 105750 | 0 | 0 |
| FASTENAL CO | COM | 311900104 |  | 14290640 | 302000 | SH |  | SOLE |  | 302000 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 |  | 536920 | 3100 | SH |  | SOLE |  | 3100 | 0 | 0 |
| FIDELITY NATIONAL FINANCIAL | FNF GROUP COM | 31620R303 |  | 32840379 | 872950 | SH |  | SOLE |  | 872950 | 0 | 0 |
| FIRST HORIZON NATL CORP | COM | 320517105 |  | 8293250 | 338500 | SH |  | SOLE |  | 338500 | 0 | 0 |
| FIRSTSERVICE CORP NEW | COM | 33767E202 |  | 919125 | 7500 | SH |  | SOLE |  | 7500 | 0 | 0 |
| FRANCO NEVADA CORP | COM | 351858105 |  | 16567307 | 121390 | SH |  | SOLE |  | 121390 | 0 | 0 |
| GFL ENVIRONMENTAL INC | SUB VTG SHS | 36168Q104 |  | 7333690 | 250896 | SH |  | SOLE |  | 250896 | 0 | 0 |
| GENTEX CORP | COM | 371901109 |  | 5421276 | 198800 | SH |  | SOLE |  | 198800 | 0 | 0 |
| GENUINE PARTS CO | COM | 372460105 |  | 33157761 | 191100 | SH |  | SOLE |  | 191100 | 0 | 0 |
| GRACO INC | COM | 384109104 |  | 230298 | 3424 | SH |  | SOLE |  | 3424 | 0 | 0 |
| GREEN PLAINS INC | COM | 393222104 |  | 2284328 | 74896 | SH |  | SOLE |  | 74896 | 0 | 0 |
| HDFC BANK LTD | SPONSORED ADS | 40415F101 |  | 2000993 | 29250 | SH |  | SOLE |  | 29250 | 0 | 0 |
| HAEMONETICS CORP | COM | 405024100 |  | 14471600 | 184000 | SH |  | SOLE |  | 184000 | 0 | 0 |
| HEICO CORP NEW | CL A | 422806208 |  | 57108165 | 476497 | SH |  | SOLE |  | 476497 | 0 | 0 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 29555526 | 168350 | SH |  | SOLE |  | 168350 | 0 | 0 |
| HINGHAM INSTN SVGS MASS | COM | 433323102 |  | 9382640 | 34000 | SH |  | SOLE |  | 34000 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 12762196 | 124400 | SH |  | SOLE |  | 124400 | 0 | 0 |
| INTERNATIONAL MNY EXPRESS IN | COM | 46005L101 |  | 1742455 | 71500 | SH |  | SOLE |  | 71500 | 0 | 0 |
| IQVIA HLDGS INC | COM | 46266C105 |  | 31392221 | 153215 | SH |  | SOLE |  | 153215 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 576409 | 3263 | SH |  | SOLE |  | 3263 | 0 | 0 |
| KROGER CO | COM | 501044101 |  | 356640 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM SER C FRMLA | 531229854 |  | 4782400 | 80000 | SH |  | SOLE |  | 80000 | 0 | 0 |
| LISTED FD TR | HORIZON KINETICS | 53656F623 |  | 440720 | 14000 | SH |  | SOLE |  | 14000 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 44392213 | 91250 | SH |  | SOLE |  | 91250 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 55209404 | 277100 | SH |  | SOLE |  | 277100 | 0 | 0 |
| MADISON SQUARE GARDEN CO NEW | CL A | 55825T103 |  | 3923262 | 21400 | SH |  | SOLE |  | 21400 | 0 | 0 |
| MARKEL CORP | COM | 570535104 |  | 7094684 | 5385 | SH |  | SOLE |  | 5385 | 0 | 0 |
| MASCO CORP | COM | 574599106 |  | 1302093 | 27900 | SH |  | SOLE |  | 27900 | 0 | 0 |
| MASTERCARD INC | CL A | 57636Q104 |  | 83567865 | 240324 | SH |  | SOLE |  | 240324 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 76297774 | 318146 | SH |  | SOLE |  | 318146 | 0 | 0 |
| MIRION TECHNOLOGIES INC | COM CL A | 60471A101 |  | 9848900 | 1490000 | SH |  | SOLE |  | 1490000 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 506540 | 7600 | SH |  | SOLE |  | 7600 | 0 | 0 |
| MOODYS CORP | COM | 615369105 |  | 35308120 | 126725 | SH |  | SOLE |  | 126725 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 1416000 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| NORFOLK SOUTHERN CORP | COM | 655844108 |  | 334885 | 1359 | SH |  | SOLE |  | 1359 | 0 | 0 |
| NVIDIA CORP | COM | 67066G104 |  | 18267500 | 125000 | SH |  | SOLE |  | 125000 | 0 | 0 |
| O REILLY AUTOMOTIVE INC NEW | COM | 67103H107 |  | 43045530 | 51000 | SH |  | SOLE |  | 51000 | 0 | 0 |
| OTIS WORLDWIDE CORP | COM | 68902V107 |  | 7596070 | 97000 | SH |  | SOLE |  | 97000 | 0 | 0 |
| PAN AMERN SILVER CORP | COM | 697900108 |  | 923210 | 56500 | SH |  | SOLE |  | 56500 | 0 | 0 |
| PAYCHEX INC | COM | 704326107 |  | 217137 | 1879 | SH |  | SOLE |  | 1879 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 569760 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| PERMIAN BASIN RTY TR | UNIT BEN INT | 714236106 |  | 2315704 | 91893 | SH |  | SOLE |  | 91893 | 0 | 0 |
| PIONEER NAT RES CO | COM | 723787107 |  | 65401760 | 286360 | SH |  | SOLE |  | 286360 | 0 | 0 |
| POLARIS INC | COM | 731068102 |  | 14200600 | 140600 | SH |  | SOLE |  | 140600 | 0 | 0 |
| PULTE GROUP INC | COM | 745867101 |  | 252692 | 5550 | SH |  | SOLE |  | 5550 | 0 | 0 |
| PURPLE INNOVATION INC | COM | 74640Y106 |  | 7946562 | 1658990 | SH |  | SOLE |  | 1658990 | 0 | 0 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 15028565 | 96066 | SH |  | SOLE |  | 96066 | 0 | 0 |
| RH | COM | 74967X103 |  | 38922903 | 145675 | SH |  | SOLE |  | 145675 | 0 | 0 |
| RADIUS GLOBAL INFRASTRCTRE I | COM CL A | 750481103 |  | 2221285 | 187926 | SH |  | SOLE |  | 187926 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 523080 | 725 | SH |  | SOLE |  | 725 | 0 | 0 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 40270788 | 93200 | SH |  | SOLE |  | 93200 | 0 | 0 |
| ROSS STORES INC | COM | 778296103 |  | 858918 | 7400 | SH |  | SOLE |  | 7400 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 44145092 | 131800 | SH |  | SOLE |  | 131800 | 0 | 0 |
| SBA COMMUNICATIONS CORP NEW | CL A | 78410G104 |  | 21303560 | 76000 | SH |  | SOLE |  | 76000 | 0 | 0 |
| SPDR GOLD TRUST | GOLD SHS | 78463V107 |  | 4299356 | 25344 | SH |  | SOLE |  | 25344 | 0 | 0 |
| SS TECHNOLOGIES HLDGS INC | COM | 78467J100 |  | 22125500 | 425000 | SH |  | SOLE |  | 425000 | 0 | 0 |
| SPDR SER TR | S OILGAS EXP | 78468R556 |  | 298936 | 2200 | SH |  | SOLE |  | 2200 | 0 | 0 |
| ST JOE CO | COM | 790148100 |  | 5859340 | 151600 | SH |  | SOLE |  | 151600 | 0 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 18908802 | 353700 | SH |  | SOLE |  | 353700 | 0 | 0 |
| SHOPIFY INC | CL A | 82509L107 |  | 324539 | 9350 | SH |  | SOLE |  | 9350 | 0 | 0 |
| SITIME CORP | COM | 82982T106 |  | 6097200 | 60000 | SH |  | SOLE |  | 60000 | 0 | 0 |
| SMITH A O CORP | COM | 831865209 |  | 17465813 | 305133 | SH |  | SOLE |  | 305133 | 0 | 0 |
| STRYKER CORP | COM | 863667101 |  | 584820 | 2392 | SH |  | SOLE |  | 2392 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 24274020 | 304950 | SH |  | SOLE |  | 304950 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 1564290 | 21000 | SH |  | SOLE |  | 21000 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 88747923 | 537150 | SH |  | SOLE |  | 537150 | 0 | 0 |
| TEXAS PACIFIC LAND CORPORATI | COM | 88262P102 |  | 153992469 | 65690 | SH |  | SOLE |  | 65690 | 0 | 0 |
| THOR INDS INC | COM | 885160101 |  | 11738695 | 155500 | SH |  | SOLE |  | 155500 | 0 | 0 |
| TRACTOR SUPPLY CO | COM | 892356106 |  | 17885115 | 79500 | SH |  | SOLE |  | 79500 | 0 | 0 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 33223248 | 772095 | SH |  | SOLE |  | 772095 | 0 | 0 |
| TYLER TECHNOLOGIES INC | COM | 902252105 |  | 1411189 | 4377 | SH |  | SOLE |  | 4377 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 21987631 | 126482 | SH |  | SOLE |  | 126482 | 0 | 0 |
| VALVOLINE INC | COM | 92047W101 |  | 36776862 | 1126397 | SH |  | SOLE |  | 1126397 | 0 | 0 |
| VANECK VECTORS ETF TR | GOLD MINERS ETF | 92189F106 |  | 520179 | 18150 | SH |  | SOLE |  | 18150 | 0 | 0 |
| VANECK VECTORS ETF TR | JUNIOR GOLD MINE | 92189F791 |  | 249550 | 7000 | SH |  | SOLE |  | 7000 | 0 | 0 |
| VANGUARD BD INDEX FDS | SHORT TRM BOND | 921937827 |  | 2313731 | 30735 | SH |  | SOLE |  | 30735 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 698511 | 17920 | SH |  | SOLE |  | 17920 | 0 | 0 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 577560 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 280476 | 1350 | SH |  | SOLE |  | 1350 | 0 | 0 |
| VONTIER CORPORATION | COM | 928881101 |  | 11458863 | 592802 | SH |  | SOLE |  | 592802 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 290670 | 2050 | SH |  | SOLE |  | 2050 | 0 | 0 |
| WATERS CORP | COM | 941848103 |  | 205548 | 600 | SH |  | SOLE |  | 600 | 0 | 0 |
| WATSCO INC | COM | 942622200 |  | 5985600 | 24000 | SH |  | SOLE |  | 24000 | 0 | 0 |
| WINMARK CORP | COM | 974250102 |  | 5589171 | 23700 | SH |  | SOLE |  | 23700 | 0 | 0 |
| WORKDAY INC | CL A | 98138H101 |  | 259362 | 1550 | SH |  | SOLE |  | 1550 | 0 | 0 |
| YETI HLDGS INC | COM | 98585X104 |  | 6605469 | 159900 | SH |  | SOLE |  | 159900 | 0 | 0 |

---