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
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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   314,765,898 4,965,545 SH   SOLE   4,965,545 0 0
Visa CL A 92826C839   191,406,973 848,962 SH   SOLE   848,962 0 0
S&P Global COM 78409V104   211,527,083 613,531 SH   SOLE   613,531 0 0
Starbucks COM 855244109   152,910,532 1,468,458 SH   SOLE   1,468,458 0 0
Otis Worldwide COM 68902V107   483,506,669 5,728,752 SH   SOLE   5,728,752 0 0
Nike CL B 654106103   312,152,526 2,545,275 SH   SOLE   2,545,275 0 0
Microsoft COM 594918104   394,495,882 1,368,352 SH   SOLE   1,368,352 0 0
Moody's COM 615369105   336,251,716 1,098,790 SH   SOLE   1,098,790 0 0
Mastercard CL A 57636Q104   263,587,814 725,318 SH   SOLE   725,318 0 0
Coca-Cola COM 191216100   186,203,391 3,001,828 SH   SOLE   3,001,828 0 0
Expeditors COM 302130109   245,956,984 2,233,536 SH   SOLE   2,233,536 0 0
Estee Lauder CL A 518439104   259,842,285 1,054,298 SH   SOLE   1,054,298 0 0
Autozone COM 053332102   154,391,485 62,808 SH   SOLE   62,808 0 0
Automatic Data Processing COM 053015103   391,211,002 1,757,225 SH   SOLE   1,757,225 0 0