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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Yum China COM 98850P109   346,172,368 8,158,670 SH   SOLE   8,158,670 0 0
Visa CL A 92826C839   260,927,196 1,002,217 SH   SOLE   1,002,217 0 0
S&P Global COM 78409V104   241,784,248 548,861 SH   SOLE   548,861 0 0
Starbucks COM 855244109   250,857,136 2,612,823 SH   SOLE   2,612,823 0 0
Otis Worldwide COM 68902V107   493,849,348 5,519,720 SH   SOLE   5,519,720 0 0
Nike CL B 654106103   380,910,897 3,508,436 SH   SOLE   3,508,436 0 0
Moody's COM 615369105   213,768,720 547,339 SH   SOLE   547,339 0 0
Mastercard CL A 57636Q104   336,006,284 787,804 SH   SOLE   787,804 0 0
Coca-Cola COM 191216100   300,147,698 5,093,292 SH   SOLE   5,093,292 0 0
Estee Lauder CL A 518439104   306,813,926 2,097,873 SH   SOLE   2,097,873 0 0
Autozone COM 053332102   300,341,872 116,159 SH   SOLE   116,159 0 0
Automatic Data Processing COM 053015103   565,524,191 2,427,455 SH   SOLE   2,427,455 0 0