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 5,041,220 52,430,790 SH   SOLE   52,430,790 0 0
ALPHABET INC CAP STK CL A 02079K305 1,526,710 15,961,420 SH   SOLE   15,961,420 0 0
BOSTON PROPERTIES INC COM 101121101 391,418 5,220,997 SH   SOLE   5,220,997 0 0
CANADIAN NATL RY CO COM 136375102 3,960,442 36,699,825 SH   SOLE   36,699,825 0 0
CANADIAN PAC RY LTD COM 13645T100 3,725,245 55,860,385 SH   SOLE   55,860,385 0 0
MICROSOFT CORP COM 594918104 4,629,511 19,877,677 SH   SOLE   19,877,677 0 0
MOODYS CORP COM 615369105 2,004,735 8,246,207 SH   SOLE   8,246,207 0 0
S&P GLOBAL INC COM 78409V104 2,677,407 8,768,321 SH   SOLE   8,768,321 0 0
UNION PAC CORP COM 907818108 1,078,153 5,534,098 SH   SOLE   5,534,098 0 0
VISA INC COM CL A 92826C839 3,541,776 19,936,821 SH   SOLE   19,936,821 0 0