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 195,265 3,888,383 SH   OTR 1 2,278,121 71,808 1,538,454
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 100,340 850,224 SH   OTR 1 338,086 196,066 316,072
ADOBE SYS INC COM 00724F101 26,910 190,260 SH   SOLE 0 0 190,260
AIR LEASE CORP CL A 00912X302 33,425 894,642 SH   SOLE 0 0 894,642
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 1,505,700 10,513,778 SH   OTR 1 3,510,074 3,645,818 3,357,886
ALIGN TECHNOLOGY INC COM 016255101 19,310 128,637 SH   SOLE 0 0 128,637
ALPHABET INC CAP STK CL C 02079K107 520,175 558,500 SH   OTR 1 337,108 10,923 210,469
ALTRIA GROUP INC COM 02209S103 212,035 2,840,099 SH   OTR 1 1,606,033 58,365 1,175,701
AMAZON COM INC COM 023135106 407,255 410,272 SH   OTR 1 246,251 7,927 156,094
AMBEV SA SPONSORED ADR 02319V103 942,525 168,685,140 SH   OTR 1 53,407,189 62,114,598 53,163,353
AMERICAN TOWER CORP NEW COM 03027X100 182,845 1,350,794 SH   OTR 1 741,352 24,477 584,965
AMPHENOL CORP NEW CL A 032095101 4,480 60,694 SH   SOLE 0 0 60,694
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 4,755 43,087 SH   SOLE 43,087 0 0
AUTOHOME INC SP ADR RP CL A 05278C107 206,105 4,470,974 SH   OTR 1 1,043,425 1,771,082 1,656,467
BECTON DICKINSON & CO COM 075887109 29,100 149,145 SH   SOLE 0 0 149,145
BERKSHIRE HATHAWAY INC DEL CL A 084670108 66,985 263 SH   SOLE 0 0 263
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 242,115 1,388,228 SH   OTR 1 1,015,123 32,412 340,693
BOSTON SCIENTIFIC CORP COM 101137107 18,205 656,681 SH   SOLE 0 0 656,681
BRITISH AMERN TOB PLC SPONSORED ADR 110448107 4,950 72,247 SH   SOLE 72,247 0 0
CASEYS GEN STORES INC COM 147528103 159,950 1,457,092 SH   OTR 1 781,034 24,924 651,134
CHINA BIOLOGIC PRODS INC COM 16938C106 5,750 50,861 SH   SOLE 0 0 50,861
CME GROUP INC COM 12572Q105 14,735 117,668 SH   SOLE 0 0 117,668
COCA COLA CO COM 191216100 164,020 3,575,773 SH   OTR 1 1,979,046 63,793 1,532,934
COCA COLA FEMSA S A B DE C V SPON ADR REP L 191241108 6,445 76,118 SH   SOLE 76,118 0 0
CREDICORP LTD COM G2519Y108 192,225 1,053,748 SH   OTR 1 252,882 437,653 363,213
ETSY INC COM 29786A106 3,525 235,100 SH   SOLE 0 0 235,100
FACEBOOK INC CL A 30303M102 258,375 1,671,606 SH   OTR 1 969,945 31,297 670,364
FIRST REP BK SAN FRANCISCO C COM 33616C100 4,520 45,171 SH   SOLE 0 0 45,171
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 922,320 9,205,465 SH   OTR 1 3,096,136 3,260,091 2,849,238
GENUINE PARTS CO COM 372460105 1,110 11,947 SH   SOLE 0 0 11,947
GRUPO FINANCIERO SANTANDER M SPON ADR SHS B 40053C105 276,410 28,200,118 SH   OTR 1 7,100,476 11,483,272 9,616,370
HDFC BANK LTD ADR REPS 3 SHS 40415F101 193,355 2,045,955 SH   SOLE 1,815,677 0 230,278
HOME DEPOT INC COM 437076102 17,505 114,129 SH   SOLE 0 0 114,129
INDIA FD INC COM 454089103 4,265 158,181 SH   SOLE 158,181 0 0
INTERNATIONAL FLAVORS&FRAGRA COM 459506101 9,600 71,108 SH   SOLE 0 0 71,108
KRAFT HEINZ CO COM 500754106 47,585 555,629 SH   SOLE 0 0 555,629
LAS VEGAS SANDS CORP COM 517834107 349,535 5,391,340 SH   OTR 1 1,027,614 1,918,294 2,445,432
LAUDER ESTEE COS INC CL A 518439104 39,495 411,482 SH   SOLE 0 0 411,482
M & T BK CORP COM 55261F104 79,235 477,463 SH   OTR 1 278,131 9,132 190,200
MARTIN MARIETTA MATLS INC COM 573284106 103,350 453,469 SH   OTR 1 258,021 8,548 186,900
MASTERCARD INCORPORATED CL A 57636Q104 620,645 5,017,513 SH   OTR 1 2,946,102 545,340 1,526,071
MEDTRONIC PLC SHS G5960L103 222,580 2,437,033 SH   OTR 1 1,374,784 43,895 1,018,354
MICROSOFT CORP COM 594918104 40,190 583,032 SH   SOLE 0 0 583,032
MOODYS CORP COM 615369105 18,750 154,080 SH   SOLE 0 0 154,080
NETEASE INC SPONSORED ADR 64110W102 525,460 1,720,984 SH   OTR 1 407,182 685,124 628,678
NIELSEN HLDGS PLC SHS EUR G6518L108 177,700 4,489,666 SH   OTR 1 2,611,837 84,150 1,793,679
NIKE INC CL B 654106103 303,885 5,028,879 SH   OTR 1 3,028,676 98,125 1,902,078
O REILLY AUTOMOTIVE INC NEW COM 67103H107 119,025 532,930 SH   OTR 1 271,100 8,981 252,849
PAYPAL HLDGS INC COM 70450Y103 259,975 4,732,675 SH   OTR 1 2,730,985 87,905 1,913,785
PEPSICO INC COM 713448108 62,995 545,458 SH   SOLE 0 0 545,458
PHILIP MORRIS INTL INC COM 718172109 513,965 4,428,286 SH   OTR 1 2,302,775 497,110 1,628,401
PNC FINL SVCS GROUP INC COM 693475105 94,825 744,303 SH   OTR 1 356,297 11,730 376,276
PRICELINE GRP INC COM NEW 741503403 371,955 198,938 SH   OTR 1 101,874 22,110 74,954
RELX PLC SPONSORED ADR 759530108 1,330 60,742 SH   SOLE 60,742 0 0
REYNOLDS AMERICAN INC COM 761713106 45,470 699,093 SH   SOLE 0 0 699,093
SAP SE SPON ADR 803054204 5,665 54,132 SH   SOLE 54,132 0 0
SCHEIN HENRY INC COM 806407102 18,175 99,315 SH   SOLE 0 0 99,315
STARBUCKS CORP COM 855244109 191,555 3,208,329 SH   OTR 1 1,806,554 57,735 1,344,040
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 513,720 14,342,431 SH   OTR 1 6,040,158 4,094,045 4,208,228
TJX COS INC NEW COM 872540109 156,730 2,121,368 SH   OTR 1 1,189,997 39,430 891,941
UNITEDHEALTH GROUP INC COM 91324P102 298,815 1,570,823 SH   OTR 1 917,678 29,153 623,992
VIPSHOP HLDGS LTD SPONSORED ADR 92763W103 4,650 440,607 SH   SOLE 0 0 440,607
VISA INC COM CL A 92826C839 530,630 5,543,018 SH   OTR 1 3,242,965 384,952 1,915,101
WELLS FARGO CO NEW COM 949746101 246,000 4,335,642 SH   OTR 1 2,528,301 81,696 1,725,645
ZOETIS INC CL A 98978V103 37,175 595,932 SH   SOLE 0 0 595,932
ZTO EXPRESS CAYMAN INC SPONSORED ADR 98980A105 5,005 358,351 SH   SOLE 0 0 358,351