# EDGAR Filing Document

**Accession Number:** 0001538449
**File Stem:** 0000945621-26-000636
**Filing Date:** 2026-5
**Character Count:** 18004
**Document Hash:** fbc3c273744e09619321984eadf92db2
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000945621-26-000636.hdr.sgml**: 20260506

**ACCESSION NUMBER**: 0000945621-26-000636

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260506

**DATE AS OF CHANGE**: 20260506

**EFFECTIVENESS DATE**: 20260506

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Mawer Investment Management Ltd.
- **CENTRAL INDEX KEY:** 0001538449

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-14623
- **FILM NUMBER:** 26947070

**BUSINESS ADDRESS:**
- **STREET 1:** 517 10TH AVENUE S. W.
- **STREET 2:** SUITE 600
- **CITY:** CALGARY
- **STATE:** A0
- **ZIP:** T2R 0A8
- **BUSINESS PHONE:** 403-262-4673

**MAIL ADDRESS:**
- **STREET 1:** 517 10TH AVENUE S. W.
- **STREET 2:** SUITE 600
- **CITY:** CALGARY
- **STATE:** A0
- **ZIP:** T2R 0A8

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**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:** Mawer Investment Management Ltd.<br>**Address:** 517 10TH AVENUE S. W.<br>SUITE 600<br>CALGARY, A0 T2R 0A8

**Form 13F File Number:** 028-14623

**CRD Number (if applicable):** 000159100

**SEC File Number (if applicable):** 801-74336

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:** Marie-Claude Lepage<br>**Title:** Head Risk Management and Chief Compliance Officer (USA)<br>**Phone:** 833-776-0552

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

/s/ Marie-Claude Lepage  Toronto, A6  05-05-2026<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:** 126

**Form 13F Information Table Value Total:** $15445748560

      (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 |
| AAON INC | COM PAR $0.004 | 000360206 | BBG000C2LZP3 | 70220243 | 848583 | SH |  | SOLE |  | 848583 | 0 | 0 |
| ABBOTT LABORATORIES | COM | 002824100 | BBG000B9ZXB4 | 128719330 | 1253719 | SH |  | SOLE |  | 1253719 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 | BBG0025Y4RY4 | 67395801 | 309880 | SH |  | SOLE |  | 309880 | 0 | 0 |
| ADVANCED DRAIN SYS INC DEL | COM | 00790R104 | BBG000G7CDN9 | 7396107 | 53935 | SH |  | SOLE |  | 53935 | 0 | 0 |
| AERCAP HOLDINGS NV | SHS | N00985106 | BBG000Q9FZL4 | 367623332 | 2679861 | SH |  | SOLE |  | 2624064 | 0 | 55797 |
| AIRBNB INC | COM CL A | 009066101 | BBG001Y2XS07 | 108056154 | 855687 | SH |  | SOLE |  | 835851 | 0 | 19836 |
| ALPHABET INC | CAP STK CL C | 02079K107 | BBG009S3NB30 | 936979998 | 3266332 | SH |  | SOLE |  | 3201499 | 0 | 64833 |
| ALPHABET INC | CAP STK CL A | 02079K305 | BBG009S39JX6 | 5341139 | 18574 | SH |  | SOLE |  | 18574 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 | BBG000BVPV84 | 760194039 | 3650041 | SH |  | SOLE |  | 3579130 | 0 | 70911 |
| AMENTUM HOLDINGS INC | COM | 023939101 | BBG01NY7B734 | 8705243 | 333790 | SH |  | SOLE |  | 333790 | 0 | 0 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 | BBG000BB9KF2 | 174925211 | 1334492 | SH |  | SOLE |  | 1326292 | 0 | 8200 |
| AMETEK INC | COM | 031100100 | BBG000B9XG87 | 42637705 | 198907 | SH |  | SOLE |  | 198907 | 0 | 0 |
| AMPHENOL CORP | CL A | 032095101 | BBG000B9YJ35 | 503727252 | 3986761 | SH |  | SOLE |  | 3938648 | 0 | 48113 |
| AON PLC | SHS CL A | G0403H108 | BBG00SSQFPK6 | 412218465 | 1277088 | SH |  | SOLE |  | 1252249 | 0 | 24839 |
| APPLE INC | COM | 037833100 | BBG000B9XRY4 | 972777 | 3833 | SH |  | SOLE |  | 3833 | 0 | 0 |
| APTARGROUP INC | COM | 038336103 | BBG000BGX2S0 | 82829543 | 657273 | SH |  | SOLE |  | 657273 | 0 | 0 |
| ATOUR LIFESTYLE HLDGS LTD | SPONSORED ADS | 04965M106 | BBG011C6KJG8 | 23857592 | 648128 | SH |  | SOLE |  | 648128 | 0 | 0 |
| BARRETT BUSINESS SVCS INC | COM | 068463108 | BBG000BHJSC4 | 49658874 | 1701812 | SH |  | SOLE |  | 1701812 | 0 | 0 |
| BECTON DICKINSON  CO | COM | 075887109 | BBG000BCZYD3 | 55851398 | 355221 | SH |  | SOLE |  | 355221 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 | BBG000DWCFL4 | 365533260 | 509 | SH |  | SOLE |  | 509 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 | BBG000DWG505 | 26195947 | 54666 | SH |  | SOLE |  | 32427 | 0 | 22239 |
| BIO RAD LABS INC | CL A | 090572207 | BBG000DY28W5 | 52623540 | 188784 | SH |  | SOLE |  | 188784 | 0 | 0 |
| BK TECHNOLOGIES CORPORATION | COM NEW | 05587G203 | BBG00NKSM4N7 | 8724546 | 116904 | SH |  | SOLE |  | 116904 | 0 | 0 |
| BLOCK INC | CL A | 852234103 | BBG0018SLC07 | 10715470 | 178057 | SH |  | SOLE |  | 178057 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 | BBG000BLBVN4 | 238733565 | 56702 | SH |  | SOLE |  | 55377 | 0 | 1325 |
| BORGWARNER INC | COM | 099724106 | BBG000BJ49H3 | 45267707 | 834274 | SH |  | SOLE |  | 834274 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 | BBG000C0LW92 | 37001102 | 589659 | SH |  | SOLE |  | 578759 | 0 | 10900 |
| BRINKS CO | COM | 109696104 | BBG000DR5QP5 | 1514449 | 14614 | SH |  | SOLE |  | 14614 | 0 | 0 |
| BWX TECHNOLOGIES INC | COM | 05605H100 | BBG000D86F25 | 150128787 | 734162 | SH |  | SOLE |  | 734162 | 0 | 0 |
| CACI INTL INC | CL A | 127190304 | BBG000KQY8Y7 | 121939461 | 224207 | SH |  | SOLE |  | 224207 | 0 | 0 |
| CARLISLE COS INC | COM | 142339100 | BBG000BGGBT8 | 5416988 | 16237 | SH |  | SOLE |  | 16237 | 0 | 0 |
| CDW CORP | COM | 12514G108 | BBG001P63B80 | 127251925 | 1051495 | SH |  | SOLE |  | 1023502 | 0 | 27993 |
| CENCORA INC | COM | 03073E105 | BBG000MDCQC2 | 323929545 | 1031163 | SH |  | SOLE |  | 1020328 | 0 | 10835 |
| CHORD ENERGY CORPORATION | COM NEW | 674215207 | BBG00Y7BLHL9 | 3303410 | 23234 | SH |  | SOLE |  | 23234 | 0 | 0 |
| CME GROUP INC | COM | 12572Q105 | BBG000BHLYP4 | 304594160 | 1031299 | SH |  | SOLE |  | 1018909 | 0 | 12390 |
| COGNEX CORP | COM | 192422103 | BBG000BPBVW5 | 58141920 | 1186812 | SH |  | SOLE |  | 1186812 | 0 | 0 |
| COMFORT SYS USA INC | COM | 199908104 | BBG000BWN2Y9 | 7165232 | 5196 | SH |  | SOLE |  | 5196 | 0 | 0 |
| CORPAY INC | COM SHS | 219948106 | BBG000GPXKX9 | 149412889 | 513464 | SH |  | SOLE |  | 501454 | 0 | 12010 |
| CSW INDUSTRIALS INC | COM | 126402106 | BBG007NLG4L3 | 4929392 | 18917 | SH |  | SOLE |  | 18917 | 0 | 0 |
| DANAHER CORP DEL | COM | 235851102 | BBG000BH3JF8 | 64239703 | 338817 | SH |  | SOLE |  | 338817 | 0 | 0 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 | BBG002PHSYX9 | 11878081 | 60054 | SH |  | SOLE |  | 60054 | 0 | 0 |
| DONNELLEY FINL SOLUTIONS INC | COM | 25787G100 | BBG009R0CT58 | 19973407 | 423704 | SH |  | SOLE |  | 423704 | 0 | 0 |
| DORMAN PRODS INC | COM | 258278100 | BBG000BM22F5 | 26631628 | 255190 | SH |  | SOLE |  | 255190 | 0 | 0 |
| ELEVANCE HEALTH INC FORMERLY | COM | 036752103 | BBG000BCG930 | 55330043 | 189001 | SH |  | SOLE |  | 189001 | 0 | 0 |
| ENSIGN GROUP INC | COM | 29358P101 | BBG000K1T9L0 | 34038589 | 168926 | SH |  | SOLE |  | 168926 | 0 | 0 |
| EOG RES INC | COM | 26875P101 | BBG000BZ9223 | 1612100 | 11151 | SH |  | SOLE |  | 11151 | 0 | 0 |
| ESQUIRE FINL HLDGS INC | COM | 29667J101 | BBG003BCFHX4 | 77960505 | 725214 | SH |  | SOLE |  | 725214 | 0 | 0 |
| FERGUSON ENTERPRISES INC | COMMON STOCK NEW | 31488V107 | BBG01NMRD768 | 156757951 | 672031 | SH |  | SOLE |  | 661545 | 0 | 10486 |
| FTI CONSULTING INC | COM | 302941109 | BBG000K88H58 | 231749889 | 1311025 | SH |  | SOLE |  | 1297134 | 0 | 13891 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 | BBG000BBHXQ3 | 125892756 | 581276 | SH |  | SOLE |  | 581276 | 0 | 0 |
| GARRETT MOTION INC | COM | 366505105 | BBG00HY28P97 | 3262605 | 179560 | SH |  | SOLE |  | 179560 | 0 | 0 |
| HDFC BANK LTD | SPONSORED ADS | 40415F101 | BBG000NWKS18 | 66801058 | 2684930 | SH |  | SOLE |  | 2684930 | 0 | 0 |
| HERSHEY CO | COM | 427866108 | BBG000BLHRS2 | 55200408 | 265527 | SH |  | SOLE |  | 265527 | 0 | 0 |
| INSPERITY INC | COM | 45778Q107 | BBG000BJ41X2 | 20197339 | 746943 | SH |  | SOLE |  | 746943 | 0 | 0 |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 | BBG000LV0836 | 24781158 | 369482 | SH |  | SOLE |  | 366782 | 0 | 2700 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 | BBG000C1FB75 | 327230634 | 2080561 | SH |  | SOLE |  | 2047036 | 0 | 33525 |
| INTERPARFUMS INC | COM | 458334109 | BBG000GCSWR5 | 28237977 | 310854 | SH |  | SOLE |  | 310854 | 0 | 0 |
| ITT INC | COM | 45073V108 | BBG00CVQZQ96 | 86543108 | 454223 | SH |  | SOLE |  | 454223 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 | BBG000BMHYD1 | 88514168 | 362110 | SH |  | SOLE |  | 362110 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 | BBG000DMBXR2 | 327570399 | 1113579 | SH |  | SOLE |  | 1092655 | 0 | 20924 |
| KASPI KZ JSC | SPONSORED ADS | 48581R205 | BBG00NNN9QQ8 | 5391629 | 72791 | SH |  | SOLE |  | 72791 | 0 | 0 |
| KINSALE CAP GROUP INC | COM | 49714P108 | BBG00D8JD9Z9 | 20442201 | 59832 | SH |  | SOLE |  | 59832 | 0 | 0 |
| KKR  CO INC | COM | 48251W104 | BBG000BCQ6J8 | 19502608 | 210839 | SH |  | SOLE |  | 210839 | 0 | 0 |
| KLA CORP | COM NEW | 482480100 | BBG000BMTFR4 | 13864213 | 9416 | SH |  | SOLE |  | 9416 | 0 | 0 |
| LEGENCE CORP | CL A | 52476L109 | BBG01WRYRPZ1 | 7576085 | 134185 | SH |  | SOLE |  | 134185 | 0 | 0 |
| LPL FINL HLDGS INC | COM | 50212V100 | BBG000P2TYL8 | 14657340 | 48723 | SH |  | SOLE |  | 48723 | 0 | 0 |
| LUMENTUM HLDGS INC | COM | 55024U109 | BBG0073F9RT7 | 6242617 | 8883 | SH |  | SOLE |  | 8883 | 0 | 0 |
| MARSH  MCLENNAN COS INC | COM | 571748102 | BBG000BP4MH0 | 602841086 | 3475590 | SH |  | SOLE |  | 3402119 | 0 | 73471 |
| MARTIN MARIETTA MATLS INC | COM | 573284106 | BBG000BGYMH7 | 150512525 | 255678 | SH |  | SOLE |  | 255678 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 | BBG000F1ZSQ2 | 225953247 | 452214 | SH |  | SOLE |  | 446784 | 0 | 5430 |
| MCCORMICK  CO INC | COM NON VTG | 579780206 | BBG000G6Y5W4 | 20073859 | 397975 | SH |  | SOLE |  | 397975 | 0 | 0 |
| MCEWEN INC. | COM NEW | 58039P305 | BBG000BW6CN8 | 14433897 | 706851 | SH |  | SOLE |  | 706851 | 0 | 0 |
| MCKESSON CORP | COM | 58155Q103 | BBG000DYGNW7 | 74144045 | 85680 | SH |  | SOLE |  | 83680 | 0 | 2000 |
| MEDLINE INC | COM CL A | 58507V107 | BBG01Y6778L4 | 16344672 | 367296 | SH |  | SOLE |  | 367296 | 0 | 0 |
| MEDPACE HLDGS INC | COM | 58506Q109 | BBG0065B7K59 | 214214680 | 446104 | SH |  | SOLE |  | 437891 | 0 | 8213 |
| META PLATFORMS INC | CL A | 30303M102 | BBG000MM2P62 | 350602980 | 612803 | SH |  | SOLE |  | 596022 | 0 | 16781 |
| MICROSOFT CORP | COM | 594918104 | BBG000BPH459 | 857027949 | 2315228 | SH |  | SOLE |  | 2268343 | 0 | 46885 |
| MURPHY USA INC | COM | 626755102 | BBG001Z0Q6T5 | 2985555 | 6044 | SH |  | SOLE |  | 6044 | 0 | 0 |
| NETEASE COM INC | SPONSORED ADS | 64110W102 | BBG000BX72V8 | 58418464 | 521873 | SH |  | SOLE |  | 511997 | 0 | 9876 |
| NEWMONT CORP | COM | 651639106 | BBG000BPWXK1 | 3437479 | 31755 | SH |  | SOLE |  | 31755 | 0 | 0 |
| NIKE INC | CL B | 654106103 | BBG000C5HS04 | 56491888 | 1069517 | SH |  | SOLE |  | 1069517 | 0 | 0 |
| NORTHROP GRUMMAN CORP | COM | 666807102 | BBG000BQ2C28 | 466216891 | 683362 | SH |  | SOLE |  | 669857 | 0 | 13505 |
| NOVANTA INC | COM | 67000B104 | BBG000JB24Q5 | 56950634 | 482183 | SH |  | SOLE |  | 482183 | 0 | 0 |
| NU HLDGS LTD | ORD SHS CL A | G6683N103 | BBG0136WM1M4 | 110700387 | 7703576 | SH |  | SOLE |  | 7587076 | 0 | 116500 |
| NVIDIA CORPORATION | COM | 67066G104 | BBG000BBJQV0 | 165943693 | 951512 | SH |  | SOLE |  | 929718 | 0 | 21794 |
| OPENLANE INC | COM | 48238T109 | BBG000VZHLL9 | 31618276 | 1084675 | SH |  | SOLE |  | 1084675 | 0 | 0 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 | BBG000BGYWY6 | 3241466 | 35115 | SH |  | SOLE |  | 35115 | 0 | 0 |
| OSI SYSTEMS INC | COM | 671044105 | BBG000BWPR54 | 175935953 | 662634 | SH |  | SOLE |  | 662634 | 0 | 0 |
| PATHWARD FINANCIAL INC | COM | 59100U108 | BBG000BKLTP8 | 23962092 | 268543 | SH |  | SOLE |  | 268543 | 0 | 0 |
| PDD HOLDINGS INC | SPONSORED ADS | 722304102 | BBG00LBLDDR2 | 3513970 | 34390 | SH |  | SOLE |  | 34390 | 0 | 0 |
| PROCTER  GAMBLE CO | COM | 742718109 | BBG000BR2TH3 | 122952095 | 851233 | SH |  | SOLE |  | 851233 | 0 | 0 |
| RB GLOBAL INC | COM | 74935Q107 | BBG000C1DF05 | 9555382 | 99691 | SH |  | SOLE |  | 99691 | 0 | 0 |
| RESMED INC | COM | 761152107 | BBG000L4M7F1 | 18857891 | 84007 | SH |  | SOLE |  | 84007 | 0 | 0 |
| ROYAL BK CDA | COM | 780087102 | BBG000BSSC44 | 241861 | 1495 | SH |  | SOLE |  | 1495 | 0 | 0 |
| RYAN SPECIALTY HOLDINGS INC | CL A | 78351F107 | BBG011K4W134 | 16910286 | 501194 | SH |  | SOLE |  | 501194 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 | BBG000BP1Q11 | 162952433 | 383111 | SH |  | SOLE |  | 377096 | 0 | 6015 |
| SAIA INC | COM | 78709Y105 | BBG000P5LMQ0 | 6619520 | 18844 | SH |  | SOLE |  | 18844 | 0 | 0 |
| SANDISK CORP | COM | 80004C200 | BBG01R388JG1 | 19402013 | 30538 | SH |  | SOLE |  | 30538 | 0 | 0 |
| SEA LTD | SPONSORD ADS | 81141R100 | BBG00HTBWMG5 | 1403381 | 16947 | SH |  | SOLE |  | 16947 | 0 | 0 |
| SHARKNINJA INC | COM SHS | G8068L108 | BBG01HN2K357 | 19282272 | 182080 | SH |  | SOLE |  | 182080 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 | BBG0147BN6G2 | 662191248 | 7120336 | SH |  | SOLE |  | 6982066 | 0 | 138270 |
| SHERWIN WILLIAMS CO | COM | 824348106 | BBG000BSXQV7 | 33194555 | 103555 | SH |  | SOLE |  | 103555 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 | BBG000BT9DW0 | 330267986 | 3421757 | SH |  | SOLE |  | 3365557 | 0 | 56200 |
| SPROTT INC | COM NEW | 852066208 | BBG000VX8S02 | 193083908 | 1351182 | SH |  | SOLE |  | 1351182 | 0 | 0 |
| SPROUTS FMRS MKT INC | COM | 85208M102 | BBG001KFKQM7 | 9606233 | 124546 | SH |  | SOLE |  | 124546 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MANUFAC | SPONSORED ADS | 874039100 | BBG000BD8ZK0 | 45382968 | 134289 | SH |  | SOLE |  | 134289 | 0 | 0 |
| TENCENT MUSIC ENTMT GROUP | SPON ADS | 88034P109 | BBG00LDC5RK5 | 66952871 | 7214749 | SH |  | SOLE |  | 7102879 | 0 | 111870 |
| TEXAS INSTRS INC | COM | 882508104 | BBG000BVV7G1 | 84963235 | 437639 | SH |  | SOLE |  | 437639 | 0 | 0 |
| TOWER SEMICONDUCTOR LTD | SHS NEW | M87915274 | BBG000BH91G0 | 169344342 | 965035 | SH |  | SOLE |  | 949835 | 0 | 15200 |
| TRADEWEB MKTS INC | CL A | 892672106 | BBG00NK8H8T2 | 73719991 | 626551 | SH |  | SOLE |  | 626551 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 | BBG002B04MT8 | 159236908 | 2213776 | SH |  | SOLE |  | 2162807 | 0 | 50969 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 | BBG000CH5208 | 39653882 | 146546 | SH |  | SOLE |  | 146546 | 0 | 0 |
| VALVOLINE INC | COM | 92047W101 | BBG003DNHV56 | 36582340 | 1086174 | SH |  | SOLE |  | 1086174 | 0 | 0 |
| VEEVA SYS INC | CL A COM | 922475108 | BBG001CGB489 | 965076 | 5494 | SH |  | SOLE |  | 5494 | 0 | 0 |
| VENTURE GLOBAL INC | COM CL A | 92333F101 | BBG01RGY23K6 | 12141740 | 770415 | SH |  | SOLE |  | 770415 | 0 | 0 |
| VERISK ANALYTICS INC | COM | 92345Y106 | BBG000BCZL41 | 54142696 | 285337 | SH |  | SOLE |  | 285337 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 | BBG000HS77T5 | 137085959 | 2730796 | SH |  | SOLE |  | 2730796 | 0 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 | BBG00L2B8KW8 | 8218272 | 32797 | SH |  | SOLE |  | 32797 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 | BBG000PSKYX7 | 585363622 | 1936751 | SH |  | SOLE |  | 1900313 | 0 | 36438 |
| WARNER MUSIC GROUP CORP | COM CL A | 934550203 | BBG00RP2T9T6 | 8717441 | 341325 | SH |  | SOLE |  | 341325 | 0 | 0 |
| WATERS CORP | COM | 941848103 | BBG000FQRVM3 | 418000121 | 1403627 | SH |  | SOLE |  | 1383736 | 0 | 19891 |
| WAYSTAR HLDG CORP | COM | 946784105 | BBG01JRQSDB9 | 10925905 | 453169 | SH |  | SOLE |  | 453169 | 0 | 0 |
| WELLS FARGO  CO | COM | 949746101 | BBG000BWQFY7 | 371793348 | 4670184 | SH |  | SOLE |  | 4564933 | 0 | 105251 |
| WILLSCOT HLDGS CORP | COM CL A | 971378104 | BBG00B0FS947 | 3089715 | 177979 | SH |  | SOLE |  | 177979 | 0 | 0 |
| XPO INC | COM | 983793100 | BBG000L5CJF3 | 6422096 | 33010 | SH |  | SOLE |  | 33010 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 | BBG0039320N9 | 89045583 | 753283 | SH |  | SOLE |  | 744283 | 0 | 9000 |

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