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
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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
Moodys Corp COM 615369105 67,323 189,585 SH   SOLE   72,598 0 116,987
Microsoft Corp COM 594918104 66,702 236,601 SH   SOLE   91,684 0 144,917
MSCI Inc. COM 55354G100 65,859 108,259 SH   SOLE   41,877 0 66,382
Mastercard Incorporated CL A 57636Q104 60,461 173,898 SH   SOLE   57,685 0 116,213
Alphabet Inc CAP STK CL C 02079K107 56,862 21,334 SH   SOLE   9,564 0 11,770
Nike Inc CL B 654106103 48,176 331,721 SH   SOLE   121,659 0 210,062
AON Plc SHS CL A G0403H108 47,325 165,604 SH   SOLE   66,807 0 98,797
Facebook Inc CL A 30303M102 44,555 131,281 SH   SOLE   50,331 0 80,950
Copart Inc COM 217204106 43,671 314,814 SH   SOLE   120,695 0 194,119
CBRE Group Inc CL A 12504L109 42,451 436,022 SH   SOLE   165,570 0 270,452
Verisk Analytics Inc COM 92345Y106 41,965 209,542 SH   SOLE   85,668 0 123,874
Amazon Com Inc COM 023135106 36,112 10,993 SH   SOLE   8,080 0 2,913
Marsh & McLennan Cos Inc COM 571748102 34,861 230,210 SH   SOLE   100,424 0 129,786
Progressive Corp COM 743315103 34,007 376,228 SH   SOLE   168,897 0 207,331
CoStar Group Inc COM 22160N109 30,351 352,673 SH   SOLE   159,944 0 192,729
Intuit COM 461202103 29,381 54,459 SH   SOLE   17,911 0 36,548
Lauder Estee Cos Inc CL A 518439104 27,973 93,263 SH   SOLE   39,548 0 53,715
Adobe Systems Incorporated COM 00724F101 25,182 43,740 SH   SOLE   12,828 0 30,912
Schwab Charles Corp COM 808513105 24,676 338,769 SH   SOLE   75,044 0 263,725
Wells Fargo Co New COM 949746101 24,174 520,873 SH   SOLE   144,300 0 376,573
Pepsico Inc COM 713448108 22,395 148,896 SH   SOLE   56,870 0 92,026
Procter and Gamble Co COM 742718109 20,330 145,419 SH   SOLE   60,754 0 84,665
S&P Global Inc COM 78409V104 19,040 44,812 SH   SOLE   19,003 0 25,809
Booking Holdings Inc COM 09857L108 17,814 7,504 SH   SOLE   3,294 0 4,210
Unilever PLC SPON ADR NEW 904767704 17,735 327,088 SH   SOLE   143,369 0 183,719
Colgate Palmolive Co COM 194162103 16,371 216,611 SH   SOLE   99,311 0 117,300
Apple Inc COM 037833100 16,022 113,232 SH   SOLE   41,807 0 71,425
JPMorgan Chase & Co COM 46625H100 12,611 77,042 SH   SOLE   35,532 0 41,510
HDFC Bank LTD SPONSORED ADS 40415F101 9,947 136,095 SH   SOLE   69,216 0 66,879
Visa Inc COM CL A 92826C839 9,346 41,956 SH   SOLE   13,925 0 28,031
BK of America Corp COM 060505104 9,214 217,047 SH   SOLE   127,297 0 89,750
Berkshire Hathaway Inc Del CL B NEW 084670702 7,397 27,100 SH   SOLE   0 0 27,100
Ferrari N V COM N3167Y103 7,191 34,385 SH   SOLE   22,928 0 11,457
Coca Cola Co COM 191216100 4,928 93,920 SH   SOLE   0 0 93,920
Alibaba Group Hldg Ltd SPONSORED ADS 01609W102 4,338 29,304 SH   SOLE   17,184 0 12,120
Berkshire Hathaway Inc Del CL A 084670108 2,880 7 SH   SOLE   0 0 7
Equifax Inc COM 294429105 2,788 11,000 SH   SOLE   0 0 11,000
PayPal Holdings Inc COM 70450Y103 1,947 7,482 SH   SOLE   4,876 0 2,606
Stryker Corporation COM 863667101 1,837 6,964 SH   SOLE   0 0 6,964
Johnson & Johnson COM 478160104 1,367 8,465 SH   SOLE   0 0 8,465
Becton Dickinson & Co COM 075887109 1,073 4,364 SH   SOLE   0 0 4,364
Fair Isaac Corp COM 303250104 306 769 SH   SOLE   0 0 769
US Bancorp Del COM NEW 902973304 300 5,052 SH   SOLE   0 0 5,052
Sysco Corp COM 871829107 275 3,500 SH   SOLE   0 0 3,500
Globe Life Inc COM 37959E102 200 2,250 SH   SOLE   0 0 2,250