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 3,176,645 2,661,688 SH   SOLE   2,661,688 0 0
ALPHABET INC CAP STK CL A 02079K305 459,415 380,600 SH   SOLE   380,600 0 0
CANADIAN NATL RY CO COM 136375102 159,088 1,772,000 SH   SOLE   1,772,000 0 0
CANADIAN PAC RY LTD COM 13645T100 1,040,233 4,911,693 SH   SOLE   4,911,693 0 0
CHARTER COMMUNICATIONS INC N CL A 16119P108 4,423,443 13,573,841 SH   SOLE   13,573,841 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C FRMLA 531229854 9,855 264,987 SH   SOLE   264,987 0 0
MICROSOFT CORP COM 594918104 1,511,069 13,212,107 SH   SOLE   13,212,107 0 0
MOODYS CORP COM 615369105 339,448 2,030,192 SH   SOLE   2,030,192 0 0
NORFOLK SOUTHERN CORP COM 655844108 677,498 3,753,454 SH   SOLE   3,753,454 0 0
PG&E CORP COM 69331C108 64,442 1,400,611 SH   SOLE   1,400,611 0 0
S&P GLOBAL INC COM 78409V104 86,874 444,619 SH   SOLE   444,619 0 0
TWENTY FIRST CENTY FOX INC CL A 90130A101 5,304,923 114,502,969 SH   SOLE   114,502,969 0 0
TWENTY FIRST CENTY FOX INC CL B 90130A200 1,016,737 22,189,801 SH   SOLE   22,189,801 0 0
UNION PAC CORP COM 907818108 828,597 5,088,727 SH   SOLE   5,088,727 0 0