| Fund | Previous Shares | Current Shares ▲▼ | Change in Shares ▲▼ | Previous Portfolio Weightage (%) | Current Portfolio Weightage (%) ▲▼ | Change in Weight (%) ▲▼ | Type |
|---|---|---|---|---|---|---|---|
| BERKSHIRE HATHAWAY INC | 24,669,778 | 24,669,778 | 0 | 4.40 | 4.60 | +0.20 | hold |
| VANGUARD GROUP INC | 15,170,285 | 15,272,967 | +102,682 | 0.11 | 0.11 | +0.00 | buy |
| BlackRock, Inc. | 14,653,100 | 14,029,797 | -623,303 | 0.12 | 0.12 | -0.00 | sell |
| TCI Fund Management Ltd | 13,308,479 | 13,308,479 | 0 | 12.03 | 12.67 | +0.64 | hold |
| STATE STREET CORP | 7,139,934 | 7,134,082 | -5,852 | 0.12 | 0.12 | +0.00 | sell |
| FMR LLC | 5,688,895 | 5,476,294 | -212,601 | 0.14 | 0.14 | +0.00 | sell |
| GEODE CAPITAL MANAGEMENT, LLC | 3,922,514 | 3,965,480 | +42,966 | 0.12 | 0.12 | +0.01 | buy |
| PineStone Asset Management Inc. | 2,264,043 | 2,375,768 | +111,725 | 6.71 | 7.54 | +0.83 | buy |
| Fiera Capital Corp | 2,485,136 | 2,371,939 | -113,197 | 3.83 | 3.84 | +0.01 | sell |
| MORGAN STANLEY | 2,307,803 | 2,370,601 | +62,798 | 0.07 | 0.07 | +0.01 | buy |
| Bank of New York Mellon Corp | 2,391,864 | 2,277,238 | -114,626 | 0.20 | 0.20 | +0.00 | sell |
| NORGES BANK | 0 | 2,147,599 | +2,147,599 | 0.00 | 0.12 | +0.12 | buy |
| AKRE CAPITAL MANAGEMENT LLC | 2,118,949 | 1,735,231 | -383,718 | 10.07 | 9.72 | -0.35 | sell |
| PRICE T ROWE ASSOCIATES INC /MD/ | 989,333 | 1,716,304 | +726,971 | 0.05 | 0.09 | +0.04 | buy |
| NORTHERN TRUST CORP | 1,707,801 | 1,685,201 | -22,600 | 0.10 | 0.11 | +0.01 | sell |
| GOLDMAN SACHS GROUP INC | 1,591,159 | 1,486,143 | -105,016 | 0.11 | 0.11 | -0.00 | sell |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 1,379,879 | 1,400,658 | +20,779 | 0.14 | 0.15 | +0.01 | buy |
| Valley Forge Capital Management, LP | 1,314,144 | 1,317,292 | +3,148 | 15.06 | 15.25 | +0.19 | buy |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | 1,474,449 | 1,310,605 | -163,844 | 0.22 | 0.22 | -0.00 | sell |
| Legal & General Group Plc | 1,447,105 | 1,202,111 | -244,994 | 0.15 | 0.14 | -0.02 | sell |
| BARCLAYS PLC | 956,603 | 1,149,939 | +193,336 | 0.17 | 0.24 | +0.07 | buy |
| WINDACRE PARTNERSHIP LLC | 1,164,900 | 1,118,900 | -46,000 | 6.94 | 6.13 | -0.81 | sell |
| Rothschild & Co Wealth Management UK Ltd | 1,122,423 | 1,117,251 | -5,172 | 8.60 | 8.98 | +0.37 | sell |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 1,089,172 | 1,111,130 | +21,958 | 0.08 | 0.09 | +0.01 | buy |
| Invesco Ltd. | 995,496 | 1,008,844 | +13,348 | 0.07 | 0.06 | -0.01 | buy |
| Longview Partners (Guernsey) LTD | 1,018,194 | 966,467 | -51,727 | 5.07 | 5.16 | +0.09 | sell |
| Amundi | 757,365 | 907,375 | +150,010 | 0.12 | 0.13 | +0.01 | buy |
| Ninety One UK Ltd | 853,453 | 835,862 | -17,591 | 0.88 | 0.92 | +0.04 | sell |
| DIMENSIONAL FUND ADVISORS LP | 817,109 | 823,852 | +6,743 | 0.08 | 0.09 | +0.00 | buy |
| ALTAROCK PARTNERS LP | 948,735 | 814,503 | -134,232 | 8.27 | 8.16 | -0.11 | sell |
| BANK OF AMERICA CORP /DE/ | 659,618 | 792,749 | +133,131 | 0.02 | 0.03 | +0.01 | buy |
| ROYAL BANK OF CANADA | 710,258 | 789,838 | +79,580 | 0.06 | 0.07 | +0.01 | buy |
| Egerton Capital (UK) LLP | 0 | 773,409 | +773,409 | 0.00 | 4.29 | +4.29 | buy |
| AKO CAPITAL LLP | 767,143 | 736,568 | -30,575 | 5.20 | 5.73 | +0.53 | sell |
| Allen Investment Management, LLC | 728,862 | 719,920 | -8,942 | 3.86 | 4.07 | +0.22 | sell |
| Nuveen, LLC | 702,202 | 709,525 | +7,323 | 0.09 | 0.09 | +0.01 | buy |
| DEUTSCHE BANK AG\ | 808,460 | 701,008 | -107,452 | 0.13 | 0.12 | -0.01 | sell |
| BAILLIE GIFFORD & CO | 738,640 | 687,046 | -51,594 | 0.26 | 0.29 | +0.03 | sell |
| JANUS HENDERSON GROUP PLC | 414,645 | 675,076 | +260,431 | 0.09 | 0.15 | +0.06 | buy |
| Evergreen Quality Fund GP, Ltd. | 674,400 | 674,400 | 0 | 7.13 | 6.80 | -0.33 | hold |
| STIFEL FINANCIAL CORP | 708,968 | 673,495 | -35,473 | 0.31 | 0.31 | +0.00 | sell |
| Neuberger Berman Group LLC | 687,145 | 663,473 | -23,672 | 0.24 | 0.25 | +0.01 | sell |
| PRINCIPAL FINANCIAL GROUP INC | 647,711 | 627,123 | -20,588 | 0.16 | 0.16 | +0.01 | sell |
| Russell Investments Group, Ltd. | 666,876 | 574,017 | -92,859 | 0.36 | 0.32 | -0.04 | sell |
| APG Asset Management N.V. | 229,004 | 568,997 | +339,993 | 0.26 | 0.70 | +0.44 | buy |
| SCHRODER INVESTMENT MANAGEMENT GROUP | 498,844 | 564,572 | +65,728 | 0.19 | 0.22 | +0.03 | buy |
| MARSHFIELD ASSOCIATES | 537,128 | 563,557 | +26,429 | 4.43 | 5.05 | +0.62 | buy |
| NORDEA INVESTMENT MANAGEMENT AB | 590,112 | 552,736 | -37,376 | 0.25 | 0.24 | -0.00 | sell |
| National Pension Service | 370,862 | 514,377 | +143,515 | 0.14 | 0.19 | +0.06 | buy |
| JPMORGAN CHASE & CO | 1,034,134 | 495,596 | -538,538 | 0.03 | 0.02 | -0.01 | sell |
| HSBC HOLDINGS PLC | 497,288 | 451,710 | -45,578 | 0.14 | 0.13 | -0.01 | sell |
| CANTILLON CAPITAL MANAGEMENT LLC | 442,005 | 445,400 | +3,395 | 0.58 | 1.23 | +0.65 | buy |
| TD ASSET MANAGEMENT INC | 616,209 | 440,704 | -175,505 | 0.24 | 0.18 | -0.06 | sell |
| VOYA INVESTMENT MANAGEMENT LLC | 425,598 | 428,936 | +3,338 | 0.20 | 0.22 | +0.01 | buy |
| Canoe Financial LP | 412,142 | 425,922 | +13,780 | 2.80 | 2.96 | +0.15 | buy |
| FIRST TRUST ADVISORS LP | 100,537 | 417,782 | +317,245 | 0.04 | 0.16 | +0.12 | buy |
| UBS Group AG | 575,156 | 414,028 | -161,128 | 0.05 | 0.04 | -0.01 | sell |
| Sarasin & Partners LLP | 427,259 | 412,752 | -14,507 | 2.02 | 2.19 | +0.17 | sell |
| ENVESTNET ASSET MANAGEMENT INC | 483,745 | 402,958 | -80,787 | 0.07 | 0.06 | -0.01 | sell |
| Sumitomo Mitsui Trust Group, Inc. | 378,495 | 364,487 | -14,008 | 0.10 | 0.11 | +0.01 | sell |
| DF DENT & CO INC | 401,205 | 351,928 | -49,277 | 2.47 | 2.59 | +0.12 | sell |
| Skye Global Management LP | 324,500 | 346,500 | +22,000 | 3.11 | 3.58 | +0.46 | buy |
| Mitsubishi UFJ Asset Management Co., Ltd. | 316,969 | 330,018 | +13,049 | 0.11 | 0.11 | +0.00 | buy |
| ACADIAN ASSET MANAGEMENT LLC | 431,581 | 307,920 | -123,661 | 0.36 | 0.26 | -0.10 | sell |
| RHUMBLINE ADVISERS | 316,401 | 306,522 | -9,879 | 0.12 | 0.13 | +0.01 | sell |
| AVIVA PLC | 288,802 | 299,729 | +10,927 | 0.25 | 0.26 | +0.01 | buy |
| AMERIPRISE FINANCIAL INC | 147,048 | 296,093 | +149,045 | 0.02 | 0.03 | +0.02 | buy |
| CITADEL ADVISORS LLC | 882,135 | 295,473 | -586,662 | 0.34 | 0.10 | -0.23 | sell |
| CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM | 298,104 | 294,153 | -3,951 | 0.09 | 0.09 | +0.00 | sell |
| Point72 Asset Management, L.P. | 345,071 | 288,878 | -56,193 | 0.36 | 0.23 | -0.13 | sell |
| Newport Trust Company, LLC | 283,572 | 277,462 | -6,110 | 0.31 | 0.34 | +0.03 | sell |
| NATIONAL BANK OF CANADA /FI/ | 218,906 | 271,923 | +53,017 | 0.12 | 0.14 | +0.02 | buy |
| Qube Research & Technologies Ltd | 197,032 | 270,786 | +73,754 | 0.13 | 0.20 | +0.07 | buy |
| BLS CAPITAL FONDSMAEGLERSELSKAB A/S | 291,449 | 270,049 | -21,400 | 4.78 | 4.68 | -0.10 | sell |
| CANADA PENSION PLAN INVESTMENT BOARD | 285,900 | 269,054 | -16,846 | 0.10 | 0.09 | -0.00 | sell |
| KING LUTHER CAPITAL MANAGEMENT CORP | 259,637 | 263,396 | +3,759 | 0.51 | 0.55 | +0.04 | buy |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | 251,161 | 245,477 | -5,684 | 0.12 | 0.13 | +0.00 | sell |
| CAISSE DE DEPOT ET PLACEMENT DU QUEBEC | 88,190 | 243,276 | +155,086 | 0.08 | 0.21 | +0.14 | buy |
| Holocene Advisors, LP | 283,744 | 241,557 | -42,187 | 0.31 | 0.26 | -0.05 | sell |
| MANNING & NAPIER ADVISORS LLC | 258,461 | 238,629 | -19,832 | 1.59 | 1.60 | +0.01 | sell |
| HighTower Advisors, LLC | 247,347 | 238,004 | -9,343 | 0.13 | 0.13 | -0.00 | sell |
| BRISTOL JOHN W & CO INC /NY/ | 237,297 | 233,042 | -4,255 | 1.78 | 1.83 | +0.05 | sell |
| SEI INVESTMENTS CO | 401,396 | 230,129 | -171,267 | 0.21 | 0.12 | -0.09 | sell |
| GENERATION INVESTMENT MANAGEMENT LLP | 254,169 | 225,909 | -28,260 | 0.80 | 0.80 | -0.00 | sell |
| Assenagon Asset Management S.A. | 170,603 | 218,843 | +48,240 | 0.12 | 0.17 | +0.05 | buy |
| CONGRESS ASSET MANAGEMENT CO | 221,975 | 217,729 | -4,246 | 0.70 | 0.78 | +0.08 | sell |
| MARKEL GROUP INC. | 213,890 | 213,890 | 0 | 0.83 | 0.87 | +0.04 | hold |
| CHILTON INVESTMENT CO INC. | 260,746 | 211,023 | -49,723 | 2.53 | 2.25 | -0.28 | sell |
| RAYMOND JAMES FINANCIAL INC | 222,095 | 209,863 | -12,232 | 0.03 | 0.03 | -0.00 | sell |
| TWO SIGMA INVESTMENTS, LP | 324,251 | 209,262 | -114,989 | 0.24 | 0.16 | -0.08 | sell |
| FRANKLIN RESOURCES INC | 285,087 | 208,491 | -76,596 | 0.03 | 0.03 | -0.01 | sell |
| NEW YORK STATE COMMON RETIREMENT FUND | 209,911 | 198,358 | -11,553 | 0.13 | 0.14 | +0.01 | sell |
| BNP PARIBAS FINANCIAL MARKETS | 152,522 | 190,915 | +38,393 | 0.06 | 0.06 | +0.01 | buy |
| Universal- Beteiligungs- und Servicegesellschaft mbH | 202,364 | 189,370 | -12,994 | 0.16 | 0.16 | -0.00 | sell |
| Mitsubishi UFJ Trust & Banking Corp | 168,419 | 184,215 | +15,796 | 0.18 | 0.22 | +0.05 | buy |
| YCG, LLC | 184,431 | 181,005 | -3,426 | 6.60 | 6.98 | +0.38 | sell |
| Robeco Institutional Asset Management B.V. | 149,649 | 168,023 | +18,374 | 0.10 | 0.12 | +0.02 | buy |
| NATIXIS ADVISORS, LLC | 169,278 | 167,984 | -1,294 | 0.12 | 0.12 | +0.00 | sell |
| D. E. Shaw & Co., Inc. | 9,247 | 166,858 | +157,611 | 0.00 | 0.06 | +0.06 | buy |
| CI INVESTMENTS INC. | 130,751 | 166,006 | +35,255 | 0.23 | 0.37 | +0.15 | buy |