NPORT-EX 2 nport-ex.htm SCHEDULE OF INVESTMENTS

Industry

Common Stock (79.5% of total investments)

Industry										LEVEL ONE
Advertising		Shares				Cost				Market Value				% Total Inv.
Alphabet, Inc. A			12,000				763,247				2,917,200
										$	2,917,200				(5.9	%)
Brokerage
Charles Schwab Corp.			10,000				337,286				954,700
										$	954,700				(1.9	%)
Conglomerate
Berkshire Hathaway Inc. B*			12,500				1,489,340				6,284,250
										$	6,284,250				(12.7	%)
Consumer
Colgate-Palmolive Company			12,000				72,938				959,280
Procter & Gamble Company			2,000				145,879				307,300
										$	1,266,580				(2.6	%)
Credit Card
Mastercard Inc			1000				219636.1				568,810
Visa Inc.			1500				225957.45				512,070
										$	1,080,880				(2.2	%)
Data Processing
Automatic Data Processing, Inc.			3000				82774.56				880,500
Paychex, Inc.			6000				140074.91				760,560
										$	1,641,060				(3.3	%)
Drug/Medical Device
Johnson & Johnson			3071				34932.62				569,425
Stryker Corp.			4500				19054.69				1,663,515
										$	2,232,940				(4.5	%)
Food
Kraft Heinz Company			29,000				772,000				755,160
PepsiCo, Inc.			10,000				168,296				1,404,400
										$	2,159,560				(4.4	%)
Industrial
Danaher Corporation			1,000				225,262				198,260
Illinois Tool Works Inc.			7,000				295,051				1,825,320
Veralto Corporation			333				29,705				35,501
										$	2,059,081				(4.2	%)
Insurance
Markel Corp.*			3,170				4,169,168				6,059,011
White Mountains Insurance Group Ltd.			300				526,542				501,456
										$	6,560,467				(13.2	%)
Mutual Fund Management
Diamond Hill Investment Group, Inc.			9,576				1,338,331				1,340,736
Franklin Resources, Inc.			50,000				1,183,351				1,156,500
T. Rowe Price Group, Inc.			22,400				2,362,870				2,299,136
										$	4,796,372				(9.7	%)
Restaurant
Starbucks Corp.			12,000				588,432				1,015,200
										$	1,015,200				(2.0	%)
Retail
AutoZone Inc.*			500				265,855				2,145,120
eBay Inc.			3,000				68,886				272,850
O’Reilly Automotive Inc.*			19,125				259,704				2,061,866
										$	4,479,836				(9.0	%)
Technology Services
Amazon.com Inc.*			9,000				915,707				1,976,130
										$	1,976,130				(4.0	%)
Total common stock investments										$	39,424,256
Money Market Funds (20.5% of total investments)										LEVEL ONE
Morgan Stanley Inst. Liquidity Fund, Treasury, 4.04%											10,178,680				(20.5	%)
Total investments										$	49,602,937
All other assets less liabilities											43,953
Total net assets										$	49,646,890

*Non-dividend paying security