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
3M CO COM 88579Y101 26,180 149,779 SH   SOLE None 149,779 0 0
ACCENTURE PLC CLASS A G1151C101 554,487 2,122,763 SH   OTR 1 2,116,263 6,500 0
ADOBE INC COM 00724F101 24,943 49,874 SH   SOLE None 49,874 0 0
ALAMO GROUP INC COM 011311107 18,127 131,400 SH   SOLE None 131,400 0 0
ALIBABA GROUP HOLDING-SP ADR 01609W102 266,196 1,143,796 SH   SOLE None 1,143,796 0 0
ALLEGION PLC COM G0176J109 54,074 464,635 SH   SOLE None 464,635 0 0
ALPHABET INC CLASS A 02079K305 7,671 4,389 SH   SOLE None 4,389 0 0
ALPHABET INC CLASS C 02079K107 796,637 454,762 SH   OTR 1 453,709 1,053 0
AMAZON.COM INC COM 023135106 488,751 150,065 SH   OTR 1 149,690 375 0
AMERISOURCEBERGEN CORP COM 03073E105 28,141 287,863 SH   SOLE None 287,863 0 0
AMETEK INC COM 031100100 469,904 3,885,734 SH   OTR 1 3,876,984 8,750 0
AMPHENOL CORP CLASS A 032095101 453,546 3,468,455 SH   OTR 1 3,460,655 7,800 0
ANSYS INC COM 03662Q105 146,405 402,523 SH   SOLE None 402,523 0 0
AON PLC CLASS A G0403H108 1,184,354 5,605,878 SH   OTR 1 5,597,328 8,550 0
APTARGROUP INC COM 038336103 149,445 1,091,825 SH   SOLE None 1,091,825 0 0
ARTHUR J GALLAGHER & CO COM 363576109 101,330 819,094 SH   SOLE None 819,094 0 0
ASPEN TECHNOLOGY INC COM 045327103 55,950 429,556 SH   SOLE None 429,556 0 0
AUTOHOME INC ADR 05278C107 3,337 33,500 SH   SOLE None 33,500 0 0
BAXTER INTERNATIONAL INC COM 071813109 73,924 921,290 SH   SOLE None 921,290 0 0
BECTON DICKINSON AND CO COM 075887109 148,231 592,684 SH   SOLE None 592,684 0 0
BIO-RAD LABORATORIE CLASS A 090572207 18,725 32,121 SH   SOLE None 32,121 0 0
BLACKROCK INC COM 09247X101 157,751 218,631 SH   OTR 1 217,981 650 0
BOOKING HOLDINGS INC COM 09857L108 44,401 19,935 SH   SOLE None 19,935 0 0
BROOKFIELD RENEWABLE PARTNER COM G16258108 227 5,250 SH   SOLE None 5,250 0 0
Canadian Pacific Railway Limited COM 13645T100 9,688 27,796 SH   SOLE None 27,796 0 0
CARRIER GLOBAL CORP COM 14448C104 86,757 2,300,031 SH   SOLE None 2,300,031 0 0
CBIZ INC COM 124805102 63,021 2,368,338 SH   SOLE None 2,368,338 0 0
CBOE GLOBAL MARKETS INC COM 12503M108 26,439 283,921 SH   SOLE None 283,921 0 0
CDW CORP/DE COM 12514G108 375,333 2,847,959 SH   OTR 1 2,837,759 10,200 0
CHARTER COMMUNICATIONS IN CLASS A 16119P108 47,823 72,289 SH   SOLE None 72,289 0 0
CHASE CORP COM 16150R104 40,394 399,900 SH   SOLE None 399,900 0 0
CIA CERVECERIAS UNI-SPON ADR 204429104 88,205 6,000,338 SH   OTR 1 5,987,625 12,713 0
CME GROUP INC COM 12572Q105 475,002 2,609,493 SH   OTR 1 2,603,193 6,300 0
COGNIZANT TECH SOLUTION CLASS A 192446102 146,066 1,782,374 SH   SOLE None 1,782,374 0 0
COMCAST CORP CLASS A 20030N101 165,152 3,154,397 SH   SOLE None 3,154,397 0 0
CSW INDUSTRIALS INC COM 126402106 86,276 770,944 SH   SOLE None 770,944 0 0
CSX CORP COM 126408103 43,533 479,700 SH   SOLE None 479,700 0 0
DANAHER CORP COM 235851102 43,727 196,844 SH   SOLE None 196,844 0 0
DOUGLAS DYNAMICS INC COM 25960R105 17,986 420,531 SH   SOLE None 420,531 0 0
ECOLAB INC COM 278865100 45,816 211,758 SH   SOLE None 211,758 0 0
ELASTIC NV COM N14506104 144,347 987,798 SH   OTR 1 984,598 3,200 0
FASTENAL CO COM 311900104 43,510 891,052 SH   SOLE None 891,052 0 0
FINANCIAL SELECT SECTOR SPDR ETF 81369Y605 2,495 84,650 SH   SOLE None 84,650 0 0
FLEETCOR TECHNOLOGIES INC COM 339041105 291,196 1,067,317 SH   OTR 1 1,063,817 3,500 0
HEADHUNTER GROUP PLC ADR 42207L106 3,261 107,800 SH   SOLE None 107,800 0 0
HERSHEY CO/THE COM 427866108 80,994 531,700 SH   SOLE None 531,700 0 0
HOLOGIC INC COM 436440101 84,194 1,156,037 SH   SOLE None 1,156,037 0 0
IAA INC COM 449253103 131,926 2,030,370 SH   SOLE None 2,030,370 0 0
IHS MARKIT LTD COM G47567105 240,137 2,673,239 SH   OTR 1 2,670,139 3,100 0
INFOSYS LTD-SP ADR 456788108 4,036 238,100 SH   SOLE None 238,100 0 0
INSPERITY INC COM 45778Q107 175,538 2,155,957 SH   OTR 1 2,151,757 4,200 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 673,955 5,845,736 SH   OTR 1 5,828,736 17,000 0
INTERCONTINENTAL HOTELS ADR 45857P806 1,117 17,146 SH   SOLE None 17,146 0 0
INTUIT INC COM 461202103 464,603 1,223,334 SH   OTR 1 1,220,834 2,500 0
JOHNSON & JOHNSON COM 478160104 574,490 3,650,608 SH   OTR 1 3,641,078 9,530 0
JPMORGAN CHASE & CO COM 46625H100 362,120 2,850,298 SH   OTR 1 2,842,848 7,450 0
LINDE PLC COM G5494J103 310,818 1,179,529 SH   OTR 1 1,176,179 3,350 0
MARSH & MCLENNAN COS COM 571748102 697,144 5,959,581 SH   OTR 1 5,945,581 14,000 0
MASTERCARD INC - A COM 57636Q104 115,193 322,725 SH   SOLE None 322,725 0 0
MICROSOFT CORP COM 594918104 845,859 3,803,147 SH   OTR 1 3,793,897 9,250 0
MORNINGSTAR INC COM 617700109 84,436 364,625 SH   SOLE None 364,625 0 0
NETEASE INC ADR 64110W102 219,530 2,292,258 SH   SOLE None 2,292,258 0 0
NEW ORIENTAL EDUCATIO-SP ADR 647581107 4,850 26,100 SH   SOLE None 26,100 0 0
NIKE INC CLASS B 654106103 127,813 903,477 SH   SOLE None 903,477 0 0
NOVARTIS AG-SPONSORED ADR 66987V109 625,655 6,625,594 SH   OTR 1 6,613,644 11,950 0
PAYCHEX INC COM 704326107 114,274 1,226,381 SH   SOLE None 1,226,381 0 0
PAYPAL HOLDINGS INC COM 70450Y103 43,330 185,014 SH   SOLE None 185,014 0 0
PC CONNECTION INC COM 69318J100 78,252 1,654,725 SH   SOLE None 1,654,725 0 0
PEPSICO INC COM 713448108 76,031 512,837 SH   SOLE None 512,837 0 0
PROCTER & GAMBLE CO/THE COM 742718109 370,293 2,661,618 SH   OTR 1 2,656,918 4,700 0
RPM INTERNATIONAL INC COM 749685103 65,325 719,600 SH   SOLE None 719,600 0 0
S&P GLOBAL INC COM 78409V104 504,083 1,533,426 SH   OTR 1 1,529,009 4,417 0
SHERWIN-WILLIAMS CO/THE COM 824348106 83,426 113,518 SH   SOLE None 113,518 0 0
SMITH (A.O.) CORP COM 831865209 62,378 1,137,872 SH   SOLE None 1,137,872 0 0
SQUARE INC - A COM 852234103 48,169 221,322 SH   OTR 1 220,451 871 0
STATE STREET CORP COM 857477103 41,404 568,891 SH   SOLE None 568,891 0 0
SYSTEMAX INC COM 871851101 18,309 510,129 SH   SOLE None 510,129 0 0
TAIWAN SEMICONDUCTOR-SP ADR 874039100 160,959 1,476,150 SH   OTR 1 1,465,850 10,300 0
TEXAS INSTRUMENTS INC COM 882508104 41,725 254,219 SH   SOLE None 254,219 0 0
TORONTO-DOMINION BANK COM 891160509 54,603 967,800 SH   SOLE None 967,800 0 0
TRADEWEB MARKETS INC CLASS A 892672106 29,064 465,397 SH   SOLE None 465,397 0 0
TRIMAS CORP COM 896215209 32,455 1,024,772 SH   SOLE None 1,024,772 0 0
UNION PACIFIC CORP COM 907818108 102,401 491,794 SH   OTR 1 490,214 1,580 0
UNITEDHEALTH GROUP INC COM 91324P102 92,605 264,073 SH   SOLE None 264,073 0 0
VERISIGN INC COM 92343E102 18,178 84,002 SH   SOLE None 84,002 0 0
VERISK ANALYTICS INC COM 92345Y106 338,743 1,632,154 SH   OTR 1 1,630,314 1,840 0
VERIZON COMMUNICATIONS INC COM 92343V104 115,369 1,963,726 SH   SOLE None 1,963,726 0 0
VIPSHOP HOLDINGS LTD - ADR 92763W103 2,881 102,500 SH   SOLE None 102,500 0 0
VISA INC-CLASS A SHARES COM 92826C839 716,686 3,276,692 SH   OTR 1 3,269,142 7,550 0
WATERS CORP COM 941848103 147,489 596,235 SH   SOLE None 596,235 0 0
WELLS FARGO & CO COM 949746101 46,177 1,530,044 SH   SOLE None 1,530,044 0 0
WEST PHARMACEUTICAL SERVICES COM 955306105 37,775 133,335 SH   SOLE None 133,335 0 0
WILLIS TOWERS WATSON PLC COM G96629103 77,882 369,670 SH   SOLE None 369,670 0 0
WINMARK CORP COM 974250102 102,075 549,383 SH   OTR 1 548,617 766 0