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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALLEGION PUB LTD CO ORD SHS G0176J109 74,936 968,660 SH   SOLE   968,660 0 0
ALPHABET INC CAP STK CL C 02079K107 67,820 60,790 SH   SOLE   60,790 0 0
AMBEV SA SPONSORED ADR 02319V103 34,059 7,356,066 SH   SOLE   7,356,066 0 0
ANSYS INC COM 03662Q105 54,107 310,638 SH   SOLE   310,638 0 0
CME GROUP INV COM CL A 12572Q105 63,601 387,999 SH   SOLE   387,999 0 0
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 74,223 939,647 SH   SOLE   939,647 0 0
COLGATE PALMOLIVE CO COM 194162103 48,884 754,259 SH   SOLE   754,259 0 0
EDWARDS LIFESCIENCES CORP COM 28176E108 35,422 243,336 SH   SOLE   243,336 0 0
LAUDER ESTEE COS INC CL A 518439104 102,374 717,459 SH   SOLE   717,459 0 0
FAIR ISAAC CORP COM 303250104 78,097 403,978 SH   SOLE   403,978 0 0
FERRARI N V COM N3167Y103 496,400 3,657,381 SH   SOLE   3,657,381 0 0
GRIFOLS S A SP ADR REP B NVT 398438408 231,332 10,759,637 SH   SOLE   10,759,637 0 0
MARRIOTT INTL INC NEW CL A 571903202 69,800 551,342 SH   SOLE   551,342 0 0
MOODYS CORP COM 615369105 45,704 267,966 SH   SOLE   267,966 0 0
NIKE INC CL B 654106103 72,064 904,412 SH   SOLE   904,412 0 0
PRAXAIR INC COM 74005P104 80,721 510,405 SH   SOLE   510,405 0 0
UNITED TECHNOLOGIES CORP COM 913017109 70,669 565,220 SH   SOLE   565,220 0 0
US BANCORP DEL COM NEW 902973304 50,074 1,001,075 SH   SOLE   1,001,075 0 0
VISA INC COM CL A 92826C839 98,053 740,305 SH   SOLE   740,305 0 0