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
ALLEGION PUB LTD CO ORD SHS G0176J109 59,370 746,227 SH   SOLE   746,227 0 0
ALPHABET INC CAP STK CL C 02079K107 59,488 56,850 SH   SOLE   56,850 0 0
AMBEV SA SPONSORED ADR 02319V103 339 5,379,268 SH   SOLE   5,379,268 0 0
ANSYS INC COM 03662Q105 43,379 293,914 SH   SOLE   293,914 0 0
CME GROUP INV COM CL A 12572Q105 42,512 291,077 SH   SOLE   291,077 0 0
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 54,199 763,152 SH   SOLE   763,152 0 0
COLGATE PALMOLIVE CO COM 194162103 45,826 607,372 SH   SOLE   607,372 0 0
ECOLAB INC COM 278865100 27,549 205,311 SH   SOLE   205,311 0 0
LAUDER ESTEE COS INC CL A 518439104 83,028 652,529 SH   SOLE   652,529 0 0
FAIR ISAAC CORP COM 303250104 54,148 353,446 SH   SOLE   353,446 0 0
FERRARI N V COM N3167Y103 434,095 4,245,476 SH   SOLE   4,245,476 0 0
GRIFOLS S A SP ADR REP B NVT 398438408 15,622 11,352,661 SH   SOLE   11,352,661 0 0
MARRIOTT INTL INC NEW CL A 571903202 62,299 458,992 SH   SOLE   458,992 0 0
MOODYS CORP COM 615369105 46,120 312,447 SH   SOLE   312,447 0 0
NIKE INC CL B 654106103 30,066 480,674 SH   SOLE   480,674 0 0
PRAXAIR INC COM 74005P104 65,633 424,312 SH   SOLE   424,312 0 0
UNITED TECHNOLOGIES CORP COM 913017109 41,734 327,146 SH   SOLE   327,146 0 0
US BANCORP DEL COM NEW 902973304 52,480 979,476 SH   SOLE   979,476 0 0
VISA INC COM CL A 92826C839 70,291 616,476 SH   SOLE   616,476 0 0