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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M CO COM 88579Y101 32,182 206,310 SH   SOLE NONE 206,310 0 0
58.COM INC ADR 31680Q104 432 8,000 SH   SOLE NONE 8,000 0 0
ACCENTURE PLC CLASS A G1151C101 386,028 1,797,822 SH   OTR 1 1,791,122 6,700 0
ADOBE INC COM 00724F101 14,470 33,240 SH   SOLE NONE 33,240 0 0
ALAMO GROUP INC COM 011311107 24,551 239,200 SH   SOLE NONE 239,200 0 0
ALIBABA GROUP HOLDING-SP ADR 01609W102 213,011 987,533 SH   SOLE NONE 987,533 0 0
ALLEGION PLC COM G0176J109 48,466 474,134 SH   SOLE NONE 474,134 0 0
ALPHABET INC CLASS A 02079K305 12,484 8,820 SH   SOLE NONE 8,820 0 0
ALPHABET INC CLASS C 02079K107 605,772 428,572 SH   OTR 1 427,499 1,073 0
AMAZON.COM INC COM 023135106 483,789 175,361 SH   OTR 1 174,851 510 0
AMERISOURCEBERGEN CORP COM 03073E105 31,763 315,198 SH   SOLE NONE 315,198 0 0
AMETEK INC COM 031100100 327,719 3,667,372 SH   OTR 1 3,658,322 9,050 0
AMPHENOL CORP CLASS A 032095101 272,618 2,845,404 SH   OTR 1 2,837,404 8,000 0
ANHEUSER-BUSCH INBEV-SPN ADR 03524A108 1,109 22,505 SH   SOLE NONE 22,505 0 0
ANSYS INC COM 03662Q105 151,444 519,783 SH   SOLE NONE 519,783 0 0
AON PLC CLASS A G0403H108 1,048,001 5,441,334 SH   OTR 1 5,431,684 9,650 0
APTARGROUP INC COM 038336103 123,726 1,105,414 SH   SOLE NONE 1,105,414 0 0
ARTHUR J GALLAGHER & CO COM 363576109 35,927 368,515 SH   SOLE NONE 368,515 0 0
AUTOHOME INC ADR 05278C107 574 7,600 SH   SOLE NONE 7,600 0 0
BAXTER INTERNATIONAL INC COM 071813109 293,741 3,411,621 SH   OTR 1 3,401,021 10,600 0
BECTON DICKINSON AND CO COM 075887109 145,243 607,540 SH   SOLE NONE 607,540 0 0
BLACKROCK INC COM 09247X101 124,527 228,872 SH   OTR 1 228,222 650 0
BOOKING HOLDINGS INC COM 09857L108 37,692 23,671 SH   SOLE NONE 23,671 0 0
BROOKFIELD ASSET MANAGE CLASS A 112585104 24,182 735,019 SH   SOLE NONE 735,019 0 0
Canadian Pacific Railway Limited COM 13645T100 7,535 30,101 SH   SOLE NONE 30,101 0 0
CARRIER GLOBAL CORP COM 14448C104 22,808 1,026,452 SH   SOLE NONE 1,026,452 0 0
CBIZ INC COM 124805102 57,300 2,390,500 SH   SOLE NONE 2,390,500 0 0
CBOE GLOBAL MARKETS INC COM 12503M108 28,814 308,895 SH   SOLE NONE 308,895 0 0
CDW CORP/DE COM 12514G108 180,613 1,554,600 SH   OTR 1 1,548,200 6,400 0
CHASE CORP COM 16150R104 33,056 322,500 SH   SOLE NONE 322,500 0 0
CIA CERVECERIAS UNI-SPON ADR 204429104 55,263 3,859,174 SH   OTR 1 3,851,229 7,945 0
CINEMARK HOLDINGS INC COM 17243V102 6,704 580,398 SH   SOLE NONE 580,398 0 0
CME GROUP INC COM 12572Q105 115,744 712,120 SH   SOLE NONE 712,120 0 0
COGNIZANT TECH SOLUTION CLASS A 192446102 98,173 1,727,798 SH   SOLE NONE 1,727,798 0 0
COMCAST CORP CLASS A 20030N101 254,642 6,532,590 SH   OTR 1 6,520,440 12,150 0
CSX CORP COM 126408103 126,670 1,816,312 SH   OTR 1 1,810,612 5,700 0
DANAHER CORP COM 235851102 34,655 195,980 SH   SOLE NONE 195,980 0 0
DENTSPLY SIRONA INC COM 24906P109 8,298 188,344 SH   SOLE NONE 188,344 0 0
DOUGLAS DYNAMICS INC COM 25960R105 14,934 425,231 SH   SOLE NONE 425,231 0 0
ECOLAB INC COM 278865100 55,496 278,945 SH   SOLE NONE 278,945 0 0
FASTENAL CO COM 311900104 50,669 1,182,750 SH   SOLE NONE 1,182,750 0 0
GILEAD SCIENCES INC COM 375558103 53,268 692,327 SH   SOLE NONE 692,327 0 0
HEADHUNTER GROUP PLC ADR 42207L106 877 37,500 SH   SOLE NONE 37,500 0 0
HERSHEY CO/THE COM 427866108 74,121 571,835 SH   SOLE NONE 571,835 0 0
HOLOGIC INC COM 436440101 70,559 1,237,880 SH   SOLE NONE 1,237,880 0 0
IAA INC COM 449253103 84,063 2,179,752 SH   SOLE NONE 2,179,752 0 0
IHS MARKIT LTD COM G47567105 246,217 3,261,156 SH   OTR 1 3,254,856 6,300 0
INFOSYS LTD-SP ADR 456788108 997 103,200 SH   SOLE NONE 103,200 0 0
INSPERITY INC COM 45778Q107 74,990 1,158,500 SH   OTR 1 1,156,100 2,400 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 475,617 5,192,326 SH   OTR 1 5,176,126 16,200 0
INTERCONTINENTAL HOTELS ADR 45857P806 807 18,199 SH   SOLE NONE 18,199 0 0
INTUIT INC COM 461202103 108,276 366,031 SH   SOLE NONE 366,031 0 0
JOHNSON & JOHNSON COM 478160104 476,213 3,386,574 SH   OTR 1 3,376,744 9,830 0
JPMORGAN CHASE & CO COM 46625H100 254,999 2,711,395 SH   OTR 1 2,703,345 8,050 0
LINDE PLC COM G5494J103 254,266 1,198,744 SH   OTR 1 1,194,894 3,850 0
MARSH & MCLENNAN COS COM 571748102 470,246 4,380,799 SH   OTR 1 4,371,699 9,100 0
MASTERCARD INC - A COM 57636Q104 98,820 334,191 SH   SOLE NONE 334,191 0 0
MICROSOFT CORP COM 594918104 819,939 4,029,892 SH   OTR 1 4,018,542 11,350 0
MORNINGSTAR INC COM 617700109 81,481 578,000 SH   SOLE NONE 578,000 0 0
NETEASE INC ADR 64110W102 165,037 384,361 SH   SOLE NONE 384,361 0 0
NIKE INC CLASS B 654106103 106,689 1,088,748 SH   SOLE NONE 1,088,748 0 0
NOVARTIS AG-SPONSORED ADR 66987V109 693,916 7,944,991 SH   OTR 1 7,928,541 16,450 0
ORACLE CORP COM 68389X105 10,362 187,483 SH   SOLE NONE 187,483 0 0
OTIS WORLDWIDE CORP COM 68902V107 10,702 188,214 SH   SOLE NONE 188,214 0 0
PAYCHEX INC COM 704326107 91,274 1,204,943 SH   SOLE NONE 1,204,943 0 0
PAYPAL HOLDINGS INC COM 70450Y103 35,148 201,734 SH   SOLE NONE 201,734 0 0
PC CONNECTION INC COM 69318J100 22,869 493,287 SH   SOLE NONE 493,287 0 0
PEPSICO INC COM 713448108 200,145 1,513,443 SH   OTR 1 1,509,343 4,100 0
PROCTER & GAMBLE CO/THE COM 742718109 163,662 1,369,183 SH   SOLE NONE 1,369,183 0 0
RAYTHEON TECHNOLOGIES CORP COM 75513E101 11,326 183,809 SH   SOLE NONE 183,809 0 0
ROGERS COMMUNICATIONS IN CLASS B 775109200 2,287 56,917 SH   SOLE NONE 56,917 0 0
RPM INTERNATIONAL INC COM 749685103 57,380 764,452 SH   SOLE NONE 764,452 0 0
S&P GLOBAL INC COM 78409V104 534,603 1,622,565 SH   OTR 1 1,617,248 5,317 0
SHENANDOAH TELECOMMUNICATION COM 82312B106 10,701 217,107 SH   SOLE NONE 217,107 0 0
SHERWIN-WILLIAMS CO/THE COM 824348106 40,814 70,631 SH   SOLE NONE 70,631 0 0
SMITH (A.O.) CORP COM 831865209 53,090 1,126,708 SH   SOLE NONE 1,126,708 0 0
SQUARE INC - A COM 852234103 16,981 161,821 SH   OTR 1 161,166 655 0
STATE STREET CORP COM 857477103 44,961 707,495 SH   SOLE NONE 707,495 0 0
TAIWAN SEMICONDUCTOR-SP ADR 874039100 69,587 1,225,764 SH   OTR 1 1,217,564 8,200 0
TEXAS INSTRUMENTS INC COM 882508104 29,237 230,264 SH   SOLE NONE 230,264 0 0
TORONTO-DOMINION BANK COM 891160509 30,156 676,000 SH   SOLE NONE 676,000 0 0
TRIMAS CORP COM 896215209 34,125 1,424,858 SH   SOLE NONE 1,424,858 0 0
UNION PACIFIC CORP COM 907818108 288,503 1,706,414 SH   OTR 1 1,700,434 5,980 0
UNITEDHEALTH GROUP INC COM 91324P102 37,700 127,819 SH   SOLE NONE 127,819 0 0
VERISIGN INC COM 92343E102 12,994 62,825 SH   SOLE NONE 62,825 0 0
VERISK ANALYTICS INC COM 92345Y106 305,662 1,797,175 SH   OTR 1 1,795,035 2,140 0
VERIZON COMMUNICATIONS INC COM 92343V104 289,615 5,253,305 SH   OTR 1 5,240,355 12,950 0
VIPSHOP HOLDINGS LTD - ADR 92763W103 336 16,900 SH   SOLE NONE 16,900 0 0
VISA INC-CLASS A SHARES COM 92826C839 599,125 3,101,858 SH   OTR 1 3,094,008 7,850 0
WATERS CORP COM 941848103 109,059 604,825 SH   SOLE NONE 604,825 0 0
WELLS FARGO & CO COM 949746101 45,983 1,795,897 SH   SOLE NONE 1,795,897 0 0
WEST PHARMACEUTICAL SERVICES COM 955306105 36,008 158,509 SH   SOLE NONE 158,509 0 0
WILLIS TOWERS WATSON PLC COM G96629103 87,786 445,729 SH   SOLE NONE 445,729 0 0
WINMARK CORP COM 974250102 83,147 485,557 SH   OTR 1 484,923 634 0