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

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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
AUTOZONE INC COM 053332102 101,373 47,328 SH   SOLE   47,328 0 0
NIKE INC COM CL B 654106103 136,731 1,644,985 SH   SOLE   1,644,985 0 0
ANHEUSER-BUSCH INBEV-SPN ADR SPONSORED ADR 03524A108 248,712 5,507,354 SH   SOLE   5,507,354 0 0
S&P GLOBAL INC COM 78409V104 152,050 497,954 SH   SOLE   497,954 0 0
MOODY'S CORP COM 615369105 192,178 790,497 SH   SOLE   790,497 0 0
EXPEDITORS INTL WASH INC COM 302130109 151,132 1,711,383 SH   SOLE   1,711,383 0 0
OTIS WORLDWIDE CORP COM 68902V107 308,023 4,827,950 SH   SOLE   4,827,950 0 0
AUTOMATIC DATA PROCESSING COM 053015103 208,151 920,248 SH   SOLE   920,248 0 0
YUM CHINA HOLDINGS INC COM 98850P109 225,879 4,772,418 SH   SOLE   4,772,418 0 0
MASTERCARD INC - A COM CL A 57636Q104 147,374 518,302 SH   SOLE   518,302 0 0
VISA INC-CLASS A SHARES COM CL A 92826C839 99,100 557,839 SH   SOLE   557,839 0 0
STARBUCKS CORP COM 855244109 278,737 3,308,061 SH   SOLE   3,308,061 0 0
THE ESTEE LAUDER COMPANIES INC COM 518439104 111,135 514,751 SH   SOLE   514,751 0 0