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 198,475 4,537,309 SH   OTR 1 2,776,428 77,816 1,683,065
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 119,720 1,010,246 SH   OTR 1 483,676 251,408 275,162
AIR LEASE CORP CL A 00912X302 39,270 1,373,979 SH   SOLE 0 0 1,373,979
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 1,286,940 11,979,422 SH   OTR 1 3,439,280 3,735,724 4,804,418
ALIGN TECHNOLOGY INC COM 016255101 16,845 179,703 SH   SOLE 0 0 179,703
ALPHABET INC CAP STK CL C 02079K107 574,840 721,053 SH   OTR 1 451,725 69,259 200,069
ALTRIA GROUP INC COM 02209S103 401,840 6,190,823 SH   OTR 1 3,875,373 112,712 2,202,738
AMAZON COM INC COM 023135106 391,090 452,060 SH   OTR 1 289,474 8,142 154,444
AMBEV SA SPONSORED ADR 02319V103 762,040 123,275,990 SH   OTR 1 32,175,400 46,869,454 44,231,136
AMERICAN TOWER CORP NEW COM 03027X100 198,760 1,696,478 SH   OTR 1 1,079,348 30,905 586,225
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 1,120 8,541 SH   SOLE 8,541 0 0
APPLE INC COM 037833100 15,255 134,961 SH   SOLE 0 0 134,961
AUTOHOME INC SP ADR RP CL A 05278C107 5,200 214,411 SH   SOLE 0 0 214,411
BECTON DICKINSON & CO COM 075887109 26,805 149,145 SH   SOLE 0 0 149,145
BERKSHIRE HATHAWAY INC DEL CL A 084670108 53,190 246 SH   SOLE 0 0 246
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 250,205 1,664,607 SH   OTR 1 1,269,036 35,004 360,567
BRISTOL MYERS SQUIBB CO COM 110122108 135,745 2,437,436 SH   OTR 1 1,571,116 43,288 823,032
BRITISH AMERN TOB PLC SPONSORED ADR 110448107 5,635 44,133 SH   SOLE 44,133 0 0
CASEYS GEN STORES INC COM 147528103 153,090 1,239,978 SH   OTR 1 648,837 18,586 572,555
CELGENE CORP COM 151020104 208,650 1,931,014 SH   OTR 1 1,261,597 35,138 634,279
CME GROUP INC COM 12572Q105 15,810 151,280 SH   SOLE 0 0 151,280
COCA COLA CO COM 191216100 282,985 6,462,158 SH   OTR 1 4,115,357 114,363 2,232,438
COCA COLA FEMSA S A B DE C V SPON ADR REP L 191241108 45,495 606,618 SH   SOLE 26,100 0 580,518
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 167,550 3,405,381 SH   OTR 1 2,087,540 57,843 1,259,998
DIAGEO P L C SPON ADR NEW 25243Q205 22,950 197,781 SH   SOLE 0 0 197,781
DOLLAR TREE INC COM 256746108 124,190 1,524,185 SH   OTR 1 940,396 26,984 556,805
DR REDDYS LABS LTD ADR 256135203 58,760 1,251,478 SH   OTR 1 435,116 360,312 456,050
ETSY INC COM 29786A106 3,355 235,100 SH   SOLE 0 0 235,100
FACEBOOK INC CL A 30303M102 160,980 1,215,471 SH   OTR 1 753,739 21,184 440,548
FIRST REP BK SAN FRANCISCO C COM 33616C100 16,080 208,527 SH   SOLE 0 0 208,527
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 715,750 7,642,007 SH   OTR 1 1,993,909 2,896,456 2,751,642
GRUPO FINANCIERO SANTANDER M SPON ADR SHS B 40053C105 250,470 28,091,090 SH   OTR 1 6,488,760 9,816,747 11,785,583
HDFC BANK LTD ADR REPS 3 SHS 40415F101 258,575 3,469,812 SH   OTR 1 1,763,112 568,695 1,138,005
INTERNATIONAL FLAVORS&FRAGRA COM 459506101 16,140 112,887 SH   SOLE 0 0 112,887
KRAFT HEINZ CO COM 500754106 46,380 518,150 SH   SOLE 0 0 518,150
LAS VEGAS SANDS CORP COM 517834107 363,695 6,233,310 SH   OTR 1 1,253,886 2,103,223 2,876,201
LAUDER ESTEE COS INC CL A 518439104 13,940 157,415 SH   SOLE 0 0 157,415
M & T BK CORP COM 55261F104 163,010 1,360,850 SH   OTR 1 832,762 23,695 504,393
MARTIN MARIETTA MATLS INC COM 573284106 163,605 884,105 SH   OTR 1 570,076 15,786 298,243
MASTERCARD INCORPORATED CL A 57636Q104 503,390 4,817,661 SH   OTR 1 3,093,873 434,513 1,289,275
MEDTRONIC PLC SHS G5960L103 192,315 2,150,565 SH   OTR 1 1,285,807 36,027 828,731
NETEASE INC SPONSORED ADR 64110W102 564,610 2,315,348 SH   OTR 1 477,109 695,364 1,142,875
NEW ORIENTAL ED & TECH GRP I SPON ADR 647581107 243,720 5,189,717 SH   OTR 1 1,073,279 1,610,838 2,505,600
NIKE INC CL B 654106103 193,225 3,552,726 SH   OTR 1 2,217,906 63,465 1,271,355
PAYPAL HLDGS INC COM 70450Y103 213,760 5,059,698 SH   OTR 1 3,079,459 85,113 1,895,126
PEPSICO INC COM 713448108 23,395 215,100 SH   SOLE 0 0 215,100
PHILIP MORRIS INTL INC COM 718172109 656,660 6,709,752 SH   OTR 1 3,997,400 883,174 1,829,178
PNC FINL SVCS GROUP INC COM 693475105 35,245 391,195 SH   SOLE 0 0 391,195
PRICELINE GRP INC COM NEW 741503403 328,805 222,243 SH   OTR 1 121,411 23,911 76,921
RANDGOLD RES LTD ADR 752344309 2,435 27,236 SH   OTR 1 0 900 26,336
REYNOLDS AMERICAN INC COM 761713106 259,020 5,356,319 SH   OTR 1 3,283,334 93,886 1,979,099
SAP SE SPON ADR 803054204 4,785 52,321 SH   SOLE 52,321 0 0
SCHEIN HENRY INC COM 806407102 19,085 117,093 SH   SOLE 0 0 117,093
STARBUCKS CORP COM 855244109 196,385 3,517,590 SH   OTR 1 2,128,486 59,665 1,329,439
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 358,210 11,480,216 SH   OTR 1 2,044,685 3,146,244 6,289,287
TJX COS INC NEW COM 872540109 150,200 1,942,463 SH   OTR 1 1,240,106 35,486 666,871
UNITEDHEALTH GROUP INC COM 91324P102 270,250 1,867,387 SH   OTR 1 1,162,521 31,754 673,112
VIPSHOP HLDGS LTD SPONSORED ADR 92763W103 8,105 552,600 SH   SOLE 0 0 552,600
VISA INC COM CL A 92826C839 387,655 4,535,999 SH   OTR 1 2,906,286 81,651 1,548,062
WELLS FARGO & CO NEW COM 949746101 374,985 8,199,051 SH   OTR 1 5,197,975 147,596 2,853,480
ZOETIS INC CL A 98978V103 30,995 595,932 SH   SOLE 0 0 595,932