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   311,277,993 5,509,345 SH   SOLE   5,509,345 0 0
Visa CL A 92826C839   238,029,529 1,002,314 SH   SOLE   1,002,314 0 0
S&P Global COM 78409V104   299,422,336 746,894 SH   SOLE   746,894 0 0
Starbucks COM 855244109   180,404,902 1,821,168 SH   SOLE   1,821,168 0 0
Otis Worldwide COM 68902V107   513,753,259 5,771,860 SH   SOLE   5,771,860 0 0
Nike CL B 654106103   321,035,537 2,908,721 SH   SOLE   2,908,721 0 0
Moody's COM 615369105   400,807,108 1,152,672 SH   SOLE   1,152,672 0 0
Mastercard CL A 57636Q104   312,553,150 794,694 SH   SOLE   794,694 0 0
Coca-Cola COM 191216100   263,841,886 4,381,300 SH   SOLE   4,381,300 0 0
Expeditors COM 302130109   267,908,551 2,211,744 SH   SOLE   2,211,744 0 0
Estee Lauder CL A 518439104   414,601,187 2,111,219 SH   SOLE   2,111,219 0 0
Autozone COM 053332102   269,926,167 108,258 SH   SOLE   108,258 0 0
Automatic Data Processing COM 053015103   531,290,455 2,417,264 SH   SOLE   2,417,264 0 0