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    <nameOfIssuer>BROOKFIELD ASSET MGMT INC</nameOfIssuer>
    <titleOfClass>CL A LTD VT SH</titleOfClass>
    <cusip>112585104</cusip>
    <value>25809669</value>
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      <Sole>446800</Sole>
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    <nameOfIssuer>CANADIAN NATL RY CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>136375102</cusip>
    <value>21982836</value>
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      <Sole>243065</Sole>
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    <nameOfIssuer>ALPHABET INC</nameOfIssuer>
    <titleOfClass>CAP STK CL A</titleOfClass>
    <cusip>02079K305</cusip>
    <value>19259390</value>
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      <Sole>14380</Sole>
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      <None>0</None>
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    <nameOfIssuer>APPLE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>037833100</cusip>
    <value>10512104</value>
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      <sshPrnamt>35800</sshPrnamt>
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    <nameOfIssuer>BERKSHIRE HATHAWAY INC DEL</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>084670108</cusip>
    <value>679143</value>
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      <sshPrnamt>2</sshPrnamt>
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      <Sole>2</Sole>
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    <nameOfIssuer>SCHWAB CHARLES CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>808513105</cusip>
    <value>36264448</value>
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      <sshPrnamt>762540</sshPrnamt>
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      <Sole>762540</Sole>
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      <None>0</None>
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    <nameOfIssuer>COSTCO WHSL CORP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22160K105</cusip>
    <value>367380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1250</sshPrnamt>
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    <votingAuthority>
      <Sole>1250</Sole>
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      <None>0</None>
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    <nameOfIssuer>LAS VEGAS SANDS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>517834107</cusip>
    <value>12104476</value>
    <shrsOrPrnAmt>
      <sshPrnamt>175335</sshPrnamt>
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      <Sole>175335</Sole>
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      <None>0</None>
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    <nameOfIssuer>MASTERCARD INCORPORATED</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>57636Q104</cusip>
    <value>29444464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>98617</sshPrnamt>
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      <Sole>98617</Sole>
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      <None>0</None>
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    <nameOfIssuer>MOODYS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>615369105</cusip>
    <value>24058545</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101343</sshPrnamt>
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    <votingAuthority>
      <Sole>101343</Sole>
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      <None>0</None>
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    <nameOfIssuer>LAUDER ESTEE COS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>518439904</cusip>
    <value>33729263</value>
    <shrsOrPrnAmt>
      <sshPrnamt>163315</sshPrnamt>
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      <Sole>163315</Sole>
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      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>UNION PAC CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>907818108</cusip>
    <value>402236</value>
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      <sshPrnamt>2225</sshPrnamt>
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      <Sole>2225</Sole>
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    <nameOfIssuer>VISA INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>92826C839</cusip>
    <value>43886378</value>
    <shrsOrPrnAmt>
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      <Sole>233575</Sole>
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    <nameOfIssuer>DIAGEO P L C</nameOfIssuer>
    <titleOfClass>SPON ADR NEW</titleOfClass>
    <cusip>25243Q205</cusip>
    <value>12191267</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72390</sshPrnamt>
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      <Sole>72390</Sole>
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      <None>0</None>
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    <nameOfIssuer>FOMENTO ECONOMICO MEXICANO S</nameOfIssuer>
    <titleOfClass>SPON ADR UNITS</titleOfClass>
    <cusip>344419106</cusip>
    <value>7135309</value>
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      <sshPrnamt>75502</sshPrnamt>
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    <votingAuthority>
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      <None>0</None>
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