| Alphabet Inc. (GOOG) | $937.0M | 7.30% | 2,749,860 | 0 | Held |
| Berkshire Hathaway Inc. Del | $832.2M | 6.48% | 1,114 | 0 | Held |
| Berkshire Hathaway Inc. Class B (BRKB) | $762.8M | 5.94% | 1,531,971 | 0 | Held |
| Deere & Co. (DE) | $578.3M | 4.50% | 861,150 | -16,750 | Trimmed |
| Amazon.com Inc. (AMZN) | $506.0M | 3.94% | 2,030,760 | 0 | Held |
| Brookfield Corporation (BN) | $476.7M | 3.71% | 13,073,609 | 0 | Held |
| Apple Inc. (AAPL) | $408.7M | 3.18% | 1,227,290 | 0 | Held |
| Analog Devices Inc. (ADI) | $396.6M | 3.09% | 999,671 | 0 | Held |
| Visa Inc. (V) | $364.3M | 2.84% | 1,013,912 | 0 | Held |
| Goldman Sachs Group Inc. (GS) | $323.6M | 2.52% | 359,360 | 0 | Held |
| Microsoft Corp. (MSFT) | $275.8M | 2.15% | 537,630 | 0 | Held |
| Caterpillar Inc. (CAT) | $266.5M | 2.08% | 328,650 | 0 | Held |
| Home Depot, Inc. (HD) | $265.1M | 2.06% | 932,000 | +9,500 | Added |
| BlackRock, Inc. (BLK) | $233.0M | 1.81% | 220,200 | 0 | Held |
| Walt Disney Co. (DIS) | $213.9M | 1.67% | 2,039,165 | +7,500 | Added |
| Texas Instruments Inc. (TXN) | $202.8M | 1.58% | 724,000 | 0 | Held |
| Watsco Inc. (WSO) | $188.6M | 1.47% | 623,010 | +25,260 | Added |
| Franco Nev Corp. (FNV) | $187.4M | 1.46% | 787,000 | +13,500 | Added |
| Alphabet Inc. (GOOGL) | $178.9M | 1.39% | 519,975 | -52,025 | Trimmed |
| LPL Financial Holdings Inc. (LPLA) | $173.1M | 1.35% | 566,132 | +6,181 | Added |
| Johnson & Johnson (JNJ) | $161.7M | 1.26% | 610,800 | 0 | Held |
| Progressive Corp. (PGR) | $156.3M | 1.22% | 753,750 | 0 | Held |
| Meta Platforms, Inc. (META) | $151.7M | 1.18% | 209,163 | -25,000 | Trimmed |
| American Express Co. (AXP) | $149.1M | 1.16% | 490,450 | 0 | Held |
| Lowe's Companies Inc. (LOW) | $140.3M | 1.09% | 761,480 | +9,500 | Added |
| Blackstone Inc. (BX) | $137.8M | 1.07% | 1,229,000 | 0 | Held |
| Charles Schwab Corp. (SCHW) | $136.3M | 1.06% | 1,394,800 | 0 | Held |
| RLI Corp. (RLI) | $134.0M | 1.04% | 2,421,922 | +27,378 | Added |
| KKR & Co. Inc. (KKR) | $132.5M | 1.03% | 1,451,800 | 0 | Held |
| Marsh & McLennan Companies, Inc. (MRSH) | $130.4M | 1.01% | 763,500 | 0 | Held |
| General Dynamics Corp. (GD) | $129.7M | 1.01% | 391,000 | 0 | Held |
| Archer-Daniels-Midland Co. (ADM) | $119.5M | 0.93% | 1,505,800 | 0 | Held |
| Apollo Global Management, Inc. (APO) | $117.5M | 0.92% | 1,012,500 | 0 | Held |
| Diageo plc (DEO) | $117.5M | 0.92% | 1,372,208 | 0 | Held |
| Mastercard Inc. (MA) | $114.5M | 0.89% | 207,540 | 0 | Held |
| Novo Nordisk A/S (NVO) | $108.8M | 0.85% | 2,869,774 | 0 | Held |
| Linde plc (LIN) | $104.7M | 0.82% | 220,600 | +5,000 | Added |
| Dollar General Corp. (DG) | $103.9M | 0.81% | 869,250 | 0 | Held |
| Moody's Corp. (MCO) | $97.1M | 0.76% | 213,890 | 0 | Held |
| Brookfield Asset Management Ltd. (BAM) | $96.9M | 0.76% | 2,173,953 | -20,000 | Trimmed |
| Norfolk Southern Corp. (NSC) | $87.3M | 0.68% | 282,500 | 0 | Held |
| Heico Corp. New (HEIA) | $86.7M | 0.68% | 379,644 | 0 | Held |
| Illinois Tool Works Inc. (ITW) | $84.3M | 0.66% | 327,500 | 0 | Held |
| JPMorgan Chase & Co. (JPM) | $83.6M | 0.65% | 252,550 | 0 | Held |
| MSCI Inc. (MSCI) | $76.9M | 0.60% | 142,850 | 0 | Held |
| Ecolab Inc. (ECL) | $75.3M | 0.59% | 274,300 | 0 | Held |
| NVR Inc. (NVR) | $74.9M | 0.58% | 12,167 | +70 | Added |
| Old Dominion Freight Line, Inc. (ODFL) | $74.6M | 0.58% | 429,150 | 0 | Held |
| Sunbelt Rentals Holdings, Inc. (SUNB) | $72.0M | 0.56% | 983,207 | +8,846 | Added |
| Rockwell Automation, Inc. (ROK) | $67.4M | 0.53% | 154,900 | 0 | Held |
| Investors Title Co. (ITIC) | $60.3M | 0.47% | 213,300 | 0 | Held |
| Hanover Insurance Group, Inc. (THG) | $60.2M | 0.47% | 281,000 | 0 | Held |
| Starbucks Corp. (SBUX) | $58.6M | 0.46% | 623,818 | 0 | Held |
| Carlyle Group Inc. (CG) | $52.6M | 0.41% | 1,327,000 | 0 | Held |
| Thermo Fisher Scientific Inc. (TMO) | $50.0M | 0.39% | 74,100 | +1,000 | Added |
| Rollins Inc. (ROL) | $47.6M | 0.37% | 1,581,025 | +64,500 | Added |
| S&P Global Inc. (SPGI) | $46.4M | 0.36% | 117,690 | 0 | Held |
| Tyson Foods, Inc. (TSN) | $46.2M | 0.36% | 913,500 | 0 | Held |
| Union Pacific Corp. (UNP) | $45.2M | 0.35% | 166,028 | +5,000 | Added |
| Hagerty, Inc. (HGTY) | $41.8M | 0.33% | 3,108,000 | 0 | Held |
| MercadoLibre, Inc. (MELI) | $41.8M | 0.33% | 24,200 | +200 | Added |
| RTX Corp. (RTX) | $41.6M | 0.32% | 224,000 | 0 | Held |
| Ferguson Enterprises Inc. (FERG) | $41.0M | 0.32% | 184,200 | +4,000 | Added |
| Cisco Systems, Inc. (CSCO) | $38.3M | 0.30% | 355,500 | 0 | Held |
| Aon plc (AON) | $37.6M | 0.29% | 135,800 | 0 | Held |
| Factset Research Systems Inc. (FDS) | $36.5M | 0.28% | 135,376 | 0 | Held |
| HCA Healthcare, Inc. (HCA) | $36.3M | 0.28% | 84,972 | +606 | Added |
| Marriott International Inc. (MAR) | $35.5M | 0.28% | 99,750 | +250 | Added |
| Allstate Corp. (ALL) | $34.3M | 0.27% | 154,550 | 0 | Held |
| Lockheed Martin Corp. (LMT) | $33.2M | 0.26% | 65,213 | 0 | Held |
| T. Rowe Price Group, Inc. (TROW) | $32.7M | 0.25% | 314,000 | 0 | Held |
| United Rentals, Inc. (URI) | $31.2M | 0.24% | 31,150 | 0 | Held |
| Costco Wholesale Corp. (COST) | $30.7M | 0.24% | 33,748 | -5,402 | Trimmed |
| Sherwin Williams Co. (SHW) | $30.4M | 0.24% | 94,172 | 0 | Held |
| Zoetis Inc. (ZTS) | $29.7M | 0.23% | 425,296 | +359,101 | Added |
| Accenture plc (ACN) | $29.2M | 0.23% | 159,400 | 0 | Held |
| Lamar Advertising Co. (LAMR) | $27.8M | 0.22% | 193,000 | 0 | Held |
| CSX Corp. (CSX) | $27.8M | 0.22% | 597,500 | +13,000 | Added |
| Verisk Analytics, Inc. (VRSK) | $26.2M | 0.20% | 155,950 | 0 | Held |
| Air Products & Chemicals, Inc. (APD) | $25.8M | 0.20% | 92,750 | +4,250 | Added |
| Crown Holdings, Inc. (CCK) | $23.2M | 0.18% | 220,000 | 0 | Held |
| Brown Forman Corp. (BFA) | $22.6M | 0.18% | 843,000 | 0 | Held |
| Renaissancere Holdings Ltd. (RNR) | $22.3M | 0.17% | 70,000 | 0 | Held |
| Philip Morris International Inc. (PM) | $21.8M | 0.17% | 114,500 | 0 | Held |
| Enterprise Products Partners L.P. (EPD) | $21.8M | 0.17% | 612,000 | +43,000 | Added |
| Comfort Systems USA Inc. (FIX) | $21.5M | 0.17% | 13,000 | 0 | Held |
| Yum! Brands, Inc. (YUM) | $19.4M | 0.15% | 142,059 | -103,154 | Trimmed |
| Applied Materials Inc. (AMAT) | $18.6M | 0.14% | 36,350 | 0 | Held |
| Bank of New York Mellon Corp. (BNY) | $18.0M | 0.14% | 124,500 | 0 | Held |
| SEI Investments Co. (SEIC) | $17.8M | 0.14% | 173,200 | 0 | Held |
| Capital One Financial Corp. (COF) | $17.6M | 0.14% | 91,000 | 0 | Held |
| Wells Fargo & Company (WFC) | $16.4M | 0.13% | 204,450 | 0 | Held |
| Hexcel Corp. (HXL) | $15.9M | 0.12% | 189,000 | 0 | Held |
| Nike, Inc. (NKE) | $15.8M | 0.12% | 447,400 | 0 | Held |
| Shopify Inc. (SHOP) | $15.2M | 0.12% | 102,750 | 0 | Held |
| Paychex Inc. (PAYX) | $14.8M | 0.12% | 150,000 | 0 | Held |
| Carrier Global Corp. (CARR) | $13.2M | 0.10% | 240,000 | +5,000 | Added |
| CME Group Inc. (CME) | $13.0M | 0.10% | 49,750 | 0 | Held |
| Spotify Technology S.A. (SPOT) | $12.6M | 0.10% | 25,900 | 0 | Held |
| IQVIA Holdings Inc. (IQV) | $12.6M | 0.10% | 46,900 | 0 | Held |