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
ABBOTT LABS COM 002824100 186,055 4,554,305 SH   OTR 1 2,899,324 78,616 1,576,365
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 128,525 1,164,107 SH   OTR 1 606,977 260,588 296,542
AIR LEASE CORP CL A 00912X302 29,415 1,098,379 SH   SOLE 0 0 1,098,379
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 783,980 9,750,216 SH   OTR 1 1,735,613 3,332,022 4,682,581
ALIGN TECHNOLOGY INC COM 016255101 14,475 179,703 SH   SOLE 0 0 179,703
ALPHABET INC CAP STK CL C 02079K107 548,240 770,119 SH   OTR 1 500,504 70,246 199,369
ALTRIA GROUP INC COM 02209S103 466,645 6,565,953 SH   OTR 1 4,205,423 115,560 2,244,970
AMAZON COM INC COM 023135106 299,390 403,115 SH   OTR 1 261,958 7,046 134,111
AMBEV SA SPONSORED ADR 02319V103 757,975 126,832,028 SH   OTR 1 32,240,476 48,032,054 46,559,498
AMERICAN TOWER CORP NEW COM 03027X100 219,580 1,861,816 SH   OTR 1 1,214,471 33,531 613,814
APPLE INC COM 037833100 172,560 1,741,715 SH   OTR 1 1,103,429 30,013 608,273
AUTOHOME INC SP ADR RP CL A 05278C107 4,340 215,811 SH   SOLE 0 0 215,811
BECTON DICKINSON & CO COM 075887109 39,880 235,145 SH   SOLE 0 0 235,145
BERKSHIRE HATHAWAY INC DEL CL A 084670108 49,905 230 SH   SOLE 0 0 230
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 265,040 1,750,402 SH   OTR 1 1,346,839 35,596 367,967
BRISTOL MYERS SQUIBB CO COM 110122108 145,640 1,905,800 SH   OTR 1 1,314,837 34,677 556,286
BRITISH AMERN TOB PLC SPONSORED ADR 110448107 5,715 44,133 SH   SOLE 44,133 0 0
CASEYS GEN STORES INC COM 147528103 42,720 324,831 SH   SOLE 0 0 324,831
CELGENE CORP COM 151020104 263,125 2,566,119 SH   OTR 1 1,768,929 45,680 751,510
CME GROUP INC COM 12572Q105 162,690 1,605,142 SH   OTR 1 1,110,156 30,425 464,561
COCA COLA CO COM 191216100 343,025 7,276,241 SH   OTR 1 4,782,415 126,751 2,367,075
COCA COLA FEMSA S A B DE C V SPON ADR REP L 191241108 38,885 468,698 SH   SOLE 0 0 468,698
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 178,355 3,014,419 SH   OTR 1 1,773,702 45,753 1,194,964
DIAGEO P L C SPON ADR NEW 25243Q205 24,920 220,781 SH   SOLE 0 0 220,781
DR REDDYS LABS LTD ADR 256135203 65,765 1,270,516 SH   OTR 1 436,595 360,312 473,609
DUNKIN BRANDS GROUP INC COM 265504100 17,075 391,425 SH   SOLE 0 0 391,425
ETSY INC COM 29786A106 2,255 235,100 SH   SOLE 0 0 235,100
FACEBOOK INC CL A 30303M102 151,260 1,276,410 SH   OTR 1 809,978 21,384 445,048
FIRST REP BK SAN FRANCISCO C COM 33616C100 14,595 208,527 SH   SOLE 0 0 208,527
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 660,220 7,024,067 SH   OTR 1 1,814,194 2,563,115 2,646,758
GRUPO FINANCIERO SANTANDER M SPON ADR SHS B 40053C105 63,395 6,895,974 SH   OTR 1 1,646,726 2,351,668 2,897,580
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 217,505 8,276,107 SH   OTR 1 1,794,485 2,631,763 3,849,859
HDFC BANK LTD ADR REPS 3 SHS 40415F101 264,000 3,812,712 SH   OTR 1 1,923,753 583,495 1,305,464
HERSHEY CO COM 427866108 24,035 211,781 SH   SOLE 0 0 211,781
INFOSYS LTD SPONSORED ADR 456788108 251,045 13,854,103 SH   OTR 1 2,475,476 5,847,907 5,530,720
INTERNATIONAL FLAVORS&FRAGRA COM 459506101 14,230 112,887 SH   SOLE 0 0 112,887
ISHARES TR MSCI INDIA ETF 46429B598 4,330 115,462 SH   SOLE 115,462 0 0
KRAFT HEINZ CO COM 500754106 25,990 293,750 SH   SOLE 0 0 293,750
LAS VEGAS SANDS CORP COM 517834107 211,055 4,798,536 SH   OTR 1 932,101 1,510,055 2,356,380
LAUDER ESTEE COS INC CL A 518439104 14,330 157,415 SH   SOLE 0 0 157,415
M & T BK CORP COM 55261F104 22,870 193,419 SH   SOLE 0 0 193,419
MARTIN MARIETTA MATLS INC COM 573284106 182,280 915,109 SH   OTR 1 597,480 15,986 301,643
MASTERCARD INC CL A 57636Q104 433,685 4,770,891 SH   OTR 1 3,149,293 317,523 1,304,075
MEDTRONIC PLC SHS G5960L103 206,095 2,283,396 SH   OTR 1 1,401,739 37,001 844,656
NETEASE INC SPONSORED ADR 64110W102 470,640 2,412,679 SH   OTR 1 507,586 712,664 1,192,429
NIKE INC CL B 654106103 175,750 3,067,176 SH   OTR 1 1,983,217 54,059 1,029,900
PAYPAL HLDGS INC COM 70450Y103 271,375 7,248,441 SH   OTR 1 4,601,716 733,499 1,913,226
PEPSICO INC COM 713448108 15,105 142,600 SH   SOLE 0 0 142,600
PHILIP MORRIS INTL INC COM 718172109 794,670 7,725,557 SH   OTR 1 4,829,318 911,499 1,984,740
PNC FINL SVCS GROUP INC COM 693475105 29,180 358,495 SH   SOLE 0 0 358,495
PRICELINE GRP INC COM NEW 741503403 305,530 242,594 SH   OTR 1 137,194 24,859 80,541
PROGRESSIVE CORP OHIO COM 743315103 116,820 3,357,377 SH   OTR 1 2,185,709 58,401 1,113,267
RANDGOLD RES LTD ADR 752344309 208,315 1,879,745 SH   OTR 1 415,456 797,037 667,252
REYNOLDS AMERICAN INC COM 761713106 312,075 5,618,217 SH   OTR 1 3,524,132 94,886 1,999,199
SAP SE SPON ADR 803054204 3,925 52,321 SH   SOLE 52,321 0 0
SCHEIN HENRY INC COM 806407102 14,410 81,493 SH   SOLE 0 0 81,493
STARBUCKS CORP COM 855244109 23,805 416,719 SH   SOLE 0 0 416,719
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 316,075 11,829,327 SH   OTR 1 2,160,951 3,146,244 6,522,132
TJX COS INC NEW COM 872540109 175,260 2,186,290 SH   OTR 1 1,423,665 38,313 724,312
UNITEDHEALTH GROUP INC COM 91324P102 284,725 1,942,242 SH   OTR 1 1,246,776 32,054 663,412
VISA INC COM CL A 92826C839 367,485 4,774,281 SH   OTR 1 3,124,574 84,345 1,565,362
WELLS FARGO & CO NEW COM 949746101 365,875 7,450,407 SH   OTR 1 4,851,771 129,044 2,469,592
ZOETIS INC CL A 98978V103 21,470 452,432 SH   SOLE 0 0 452,432