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
ABBOTT LABS COM 002824100 BBG001S5N9M6 722,362,862 5,971,126 SH   DFND 2 3,093,868 0 2,877,258
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 BBG001SCXK90 58,106,625 167,846 SH   DFND 2 22,055 0 145,791
ADOBE INC COM 00724F101 BBG001S5NCQ5 520,275,238 975,076 SH   DFND 2 577,804 0 397,272
ALPHABET INC CAP STK CL A 02079K305 BBG009S39JY5 141,821,232 896,170 SH   DFND 2 676,960 0 219,210
ALPHABET INC CAP STK CL C 02079K107 BBG009S3NB21 665,095,964 4,116,159 SH   DFND 2 2,314,675 0 1,801,484
AMAZON COM INC COM 023135106 BBG001S5PQL7 1,264,193,186 6,585,762 SH   DFND 2 3,519,095 0 3,066,667
AMERICAN TOWER CORP NEW COM 03027X100 BBG001S5NPQ6 162,981,214 789,121 SH   DFND 2 586,825 0 202,296
AMPHENOL CORP NEW CL A 032095101 BBG001S5NSK6 189,306,221 1,569,501 SH   DFND 2 1,167,341 0 402,160
AON PLC SHS CL A G0403H108 BBG00SSQFPR9 18,690,990 56,008 SH   DFND 2 7,051 0 48,957
APPLE INC COM 037833100 BBG001S5N8V8 20,738,448 120,938 SH   DFND 2 0 0 120,938
BAIDU INC SPON ADR REP A 056752108 BBG001SNBKD5 13,835,205 132,953 SH   DFND 2 54,584 0 78,369
BECTON DICKINSON & CO COM 075887109 BBG001S5P374 598,139,229 2,278,192 SH   DFND 2 1,271,979 0 1,006,213
BERKSHIRE HATHAWAY INC DEL CL A 084670108 BBG001S902J2 111,071,569 162 SH   DFND 2 125 0 37
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 BBG001S90346 46,795,871 113,906 SH   DFND 2 72,520 0 41,386
BOOKING HOLDINGS INC COM 09857L108 BBG001S89N72 264,193,785 68,458 SH   DFND 2 35,020 0 33,438
BOSTON SCIENTIFIC CORP COM 101137107 BBG001S63L94 728,449,847 9,982,924 SH   DFND 2 5,114,567 0 4,868,357
BROOKFIELD INFRAST PARTNERS LP INT UNIT G16252101 BBG001S5P686 767,984 24,607 SH   DFND 2 24,607 0 0
CASEYS GEN STORES INC COM 147528103 BBG001S5PHZ2 326,849,518 981,614 SH   DFND 2 728,148 0 253,466
CME GROUP INC COM 12572Q105 BBG001S86547 787,782,520 3,441,197 SH   DFND 2 1,830,212 0 1,610,985
COCA COLA CO COM 191216100 BBG001S5SMQ8 915,383,716 14,050,874 SH   DFND 2 7,243,756 0 6,807,118
COMCAST CORP NEW CL A 20030N101 BBG001S5PXL2 143,065,677 3,156,482 SH   DFND 2 2,345,193 0 811,289
COPART INC COM 217204106 BBG001S7MTB1 136,350,978 2,251,653 SH   DFND 2 1,672,793 0 578,860
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 BBG001S5W9K8 53,044,162 415,696 SH   DFND 2 191,305 0 224,391
FRANKLIN TEMPLETON ETF TR FTSE JAPAN ETF 35473P744 BBG00J3MDYR8 2,522,739 81,300 SH   DFND 2 0 0 81,300
FRANKLIN TEMPLETON ETF TR FTSE UNTD KGDM 35473P678 BBG00J3PQZ12 2,814,201 107,700 SH   DFND 2 0 0 107,700
GENUINE PARTS CO COM 372460105 BBG001S5RNH7 552,635 3,567 SH   DFND 2 3,567 0 0
GRACO INC COM 384109104 BBG001S5RK56 107,563,056 1,100,818 SH   DFND 2 817,282 0 283,536
HDFC BANK LTD SPONSORED ADS 40415F101 BBG001SJB7J7 110,227,560 1,472,494 SH   DFND 2 0 0 1,472,494
HERSHEY CO COM 427866108 BBG001S5S148 106,380,092 522,196 SH   DFND 2 384,079 0 138,117
HOME DEPOT INC COM 437076102 BBG001S5RTW7 109,111,882 272,052 SH   DFND 2 202,549 0 69,503
INTERCONTINENTAL EXCHANGE IN COM 45866F104 BBG001SDJ4R0 468,594,050 3,260,069 SH   DFND 2 2,444,829 0 815,240
INTUIT COM 461202103 BBG001S6TWR2 341,664,415 503,275 SH   DFND 2 378,444 0 124,831
INTUITIVE SURGICAL INC COM NEW 46120E602 BBG001S7XR78 67,650,869 158,834 SH   DFND 2 80,001 0 78,833
INVESCO EXCH TRADED FD TR II NASDAQ 100 ETF 46138G649 BBG00XS6PBW6 5,444,162 29,800 SH   DFND 2 0 0 29,800
JOHNSON & JOHNSON COM 478160104 BBG001S5SHQ9 605,551 3,828 SH   DFND 2 3,828 0 0
KEYSIGHT TECHNOLOGIES INC COM 49338L103 BBG0059FN820 134,603,201 828,927 SH   DFND 2 650,289 0 178,638
KLA CORP COM NEW 482480100 BBG001S5SLM4 204,523,923 285,254 SH   DFND 2 192,707 0 92,547
M & T BK CORP COM 55261F104 BBG001S7S2B4 260,483 1,791 SH   DFND 2 1,791 0 0
MASTERCARD INCORPORATED CL A 57636Q104 BBG001SKNNS6 921,231,555 1,802,915 SH   DFND 2 931,650 0 871,265
MEDTRONIC PLC SHS G5960L103 BBG001S5T2S9 532,312 6,108 SH   DFND 2 6,108 0 0
MERCADOLIBRE INC COM 58733R102 BBG001SM32G3 37,708,586 25,483 SH   DFND 2 11,881 0 13,602
METTLER TOLEDO INTERNATIONAL COM 592688105 BBG001SB87G1 31,166,830 23,411 SH   DFND 2 2,452 0 20,959
MICROSOFT CORP COM 594918104 BBG001S5TD05 1,449,980,955 3,239,587 SH   DFND 2 1,734,847 0 1,504,740
MONDELEZ INTL INC CL A 609207105 BBG001SHHZJ3 718,915,507 9,670,506 SH   DFND 2 5,451,004 0 4,219,502
NIKE INC CL B 654106103 BBG001S6NTK2 210,073,600 2,102,548 SH   DFND 2 1,126,728 0 975,820
NU HLDGS LTD CALL G6683N903   30,291,092 2,585,155 SH   DFND 2 1,141,880 0 1,443,275
NVIDIA CORPORATION COM 67066G104 BBG001S5TZJ6 17,346,545 19,198 SH   DFND 2 4,291 0 14,907
PDD HOLDINGS INC SPONSORED ADS 722304102 BBG00LBLDFH8 26,752,968 232,802 SH   DFND 2 98,002 0 134,800
PEPSICO INC COM 713448108 BBG001S695T1 250,650,578 1,366,682 SH   DFND 2 996,582 0 370,100
PNC FINL SVCS GROUP INC COM 693475105 BBG001S5V947 260,661 1,613 SH   DFND 2 1,613 0 0
PROGRESSIVE CORP COM 743315103 BBG001S5V509 208,636,357 964,252 SH   DFND 2 712,054 0 252,198
RB GLOBAL INC COM 74935Q107 BBG001SBQWW8 538,274,272 6,662,538 SH   DFND 2 3,502,208 0 3,160,330
SCHLUMBERGER LTD COM STK 806857108 BBG001S5W4C8 7,953,698 145,114 SH   DFND 2 16,462 0 128,652
SERVICENOW INC COM 81762P102 BBG001T4JFC0 283,509,886 351,134 SH   DFND 2 194,475 0 156,659
SHERWIN WILLIAMS CO COM 824348106 BBG001S5W2F9 258,200,209 698,068 SH   DFND 2 361,659 0 336,409
SPDR INDEX SHS FDS EURO STOXX 50 78463X202 BBG001SLBK12 3,089,940 58,800 SH   DFND 2 0 0 58,800
SPDR S&P 500 ETF TR TR UNIT 78462F103 BBG001S72SM3 6,717,788 12,843 SH   DFND 2 0 0 12,843
STARBUCKS CORP COM 855244109 BBG001S72KH6 149,754,147 1,567,361 SH   DFND 2 1,164,620 0 402,741
SYNOPSYS INC COM 871607107 BBG001S5VTR8 392,912,404 649,504 SH   DFND 2 350,746 0 298,758
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 BBG001S5WWW4 355,550,943 2,397,222 SH   DFND 2 939,741 0 1,457,481
THERMO FISHER SCIENTIFIC INC COM 883556102 BBG001S5WS08 443,173,732 718,886 SH   DFND 2 409,107 0 309,779
TJX COS INC NEW COM 872540109 BBG001S5WQ93 314,199 3,098 SH   DFND 2 3,098 0 0
UNION PAC CORP COM 907818108 BBG001S5X2M0 161,068,827 626,519 SH   DFND 2 465,593 0 160,926
UNITEDHEALTH GROUP INC COM 91324P102 BBG001S6WCJ1 769,117,413 1,459,759 SH   DFND 2 763,931 0 695,828
VISA INC COM CL A 92826C839 BBG001SRCFY3 472,978,673 1,596,100 SH   DFND 2 875,263 0 720,837
VULCAN MATLS CO COM 929160109 BBG001S5X8R2 365,536,980 1,256,915 SH   DFND 2 635,422 0 621,493
WALMART INC COM 931142103 BBG001S5XH92 148,805,832 2,380,979 SH   DFND 2 1,419,266 0 961,713
WELLS FARGO CO NEW COM 949746101 BBG001S5XF23 442,698 7,638 SH   DFND 2 7,638 0 0
YUM CHINA HLDGS INC COM 98850P109 BBG00B8N0HH0 135,300,947 3,168,519 SH   DFND 2 1,240,013 0 1,928,506
ZOETIS INC CL A 98978V103 BBG0039320P7 130,394,392 737,226 SH   DFND 2 548,163 0 189,063