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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Yum China COM 98850P109   331,484,966 5,949,120 SH   SOLE   5,949,120 0 0
Visa CL A 92826C839   228,985,075 995,544 SH   SOLE   995,544 0 0
S&P Global COM 78409V104   282,580,323 773,324 SH   SOLE   773,324 0 0
Starbucks COM 855244109   165,470,502 1,812,978 SH   SOLE   1,812,978 0 0
Otis Worldwide COM 68902V107   443,121,749 5,517,641 SH   SOLE   5,517,641 0 0
Nike CL B 654106103   334,581,647 3,499,076 SH   SOLE   3,499,076 0 0
Moody's COM 615369105   361,392,427 1,143,032 SH   SOLE   1,143,032 0 0
Mastercard CL A 57636Q104   312,020,234 788,109 SH   SOLE   788,109 0 0
Coca-Cola COM 191216100   250,086,507 4,467,426 SH   SOLE   4,467,426 0 0
Expeditors COM 302130109   150,309,734 1,311,260 SH   SOLE   1,311,260 0 0
Estee Lauder CL A 518439104   303,263,644 2,097,404 SH   SOLE   2,097,404 0 0
Autozone COM 053332102   288,702,883 113,663 SH   SOLE   113,663 0 0
Automatic Data Processing COM 053015103   575,344,424 2,391,489 SH   SOLE   2,391,489 0 0