Instuitional Investor - Gfi Investment Counsel Ltd.

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Apple Inc.	AAPL	335,652	$84,054	9.64%
2.	Visa Inc.	V	254,190	$80,334	9.22%
3.	Microsoft Corp	MSFT	187,372	$78,977	9.06%
4.	Moodys Corp	MCO	161,376	$76,391	8.76%
5.	Msci Inc.	MSCI	116,611	$69,968	8.03%