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
AGILENT TECHNOLOGIES INC COM 00846U101 144,445 1,797,028 SH   DFND 1,354,253 0 442,775
AGILENT TECHNOLOGIES INC COM 00846U101 140,070 1,742,597 SH   DFND 1 1,417,676 0 324,921
ALPHABET INC CAP STK CL A 02079K305 210,908 179,208 SH   DFND 135,103 0 44,105
ALPHABET INC CAP STK CL A 02079K305 204,431 173,704 SH   DFND 1 141,311 0 32,393
ALPHABET INC CAP STK CL C 02079K107 122,440 104,354 SH   DFND 78,662 0 25,692
ALPHABET INC CAP STK CL C 02079K107 119,008 101,429 SH   DFND 1 82,562 0 18,867
AMERICAN TOWER CORP NEW COM 03027X100 218,176 1,107,154 SH   DFND 834,532 0 272,622
AMERICAN TOWER CORP NEW COM 03027X100 211,794 1,074,768 SH   DFND 1 874,802 0 199,966
ANALOG DEVICES INC COM 032654105 269,228 2,557,499 SH   DFND 1 2,081,331 0 476,168
ANALOG DEVICES INC COM 032654105 277,722 2,638,185 SH   DFND 1,989,010 0 649,175
AON PLC SHS CL A G0408V102 127,175 745,021 SH   DFND 562,371 0 182,650
AON PLC SHS CL A G0408V102 123,640 724,310 SH   DFND 1 589,950 0 134,360
ARMSTRONG WORLD INDS INC NEW COM 04247X102 53,888 678,520 SH   DFND 511,262 0 167,258
ARMSTRONG WORLD INDS INC NEW COM 04247X102 52,219 657,504 SH   DFND 1 535,253 0 122,251
BECTON DICKINSON & CO COM 075887109 132,430 530,292 SH   DFND 399,613 0 130,679
BECTON DICKINSON & CO COM 075887109 128,220 513,436 SH   DFND 1 417,621 0 95,815
BROADCOM INC COM 11135F101 149,057 495,685 SH   DFND 1 403,442 0 92,243
BROADCOM INC COM 11135F101 153,690 511,089 SH   DFND 385,168 0 125,921
CBRE GROUP INC CL A 12504L109 177,795 3,595,457 SH   DFND 2,710,184 0 885,273
CBRE GROUP INC CL A 12504L109 172,326 3,484,854 SH   DFND 1 2,835,839 0 649,015
CME GROUP INC COM CL A 12572Q105 156,066 948,269 SH   DFND 1 771,821 0 176,448
CME GROUP INC COM CL A 12572Q105 161,047 978,535 SH   DFND 737,758 0 240,777
CREDIT ACCEP CORP MICH COM 225310101 69,957 154,797 SH   DFND 116,711 0 38,086
CREDIT ACCEP CORP MICH COM 225310101 67,924 150,297 SH   DFND 1 122,334 0 27,963
ECOLAB INC COM 278865100 207,997 1,178,189 SH   DFND 888,217 0 289,972
ECOLAB INC COM 278865100 201,986 1,144,137 SH   DFND 1 931,508 0 212,629
EQUIFAX INC COM 294429105 144,974 1,223,412 SH   DFND 921,910 0 301,502
EQUIFAX INC COM 294429105 140,791 1,188,113 SH   DFND 1 966,966 0 221,147
FACEBOOK INC CL A 30303M102 91,222 547,253 SH   DFND 412,467 0 134,786
FACEBOOK INC CL A 30303M102 88,290 529,663 SH   DFND 1 430,980 0 98,683
FASTENAL CO COM 311900104 105,424 1,639,302 SH   DFND 1,235,899 0 403,403
FASTENAL CO COM 311900104 102,332 1,591,223 SH   DFND 1 1,294,969 0 296,254
FIDELITY NATL INFORMATION SV COM 31620M106 237,265 2,097,835 SH   DFND 1 1,706,730 0 391,105
FIDELITY NATL INFORMATION SV COM 31620M106 244,698 2,163,552 SH   DFND 1,631,014 0 532,538
INTEL CORP COM 458140100 113,642 2,116,232 SH   DFND 1,595,015 0 521,217
INTEL CORP COM 458140100 110,352 2,054,979 SH   DFND 1 1,672,086 0 382,893
INTERACTIVE BROKERS GROUP IN COM CL A 45841N107 69,007 1,330,135 SH   DFND 1,002,520 0 327,615
INTERACTIVE BROKERS GROUP IN COM CL A 45841N107 66,848 1,288,503 SH   DFND 1 1,047,957 0 240,546
INTERCONTINENTAL EXCHANGE IN COM 45866F104 180,338 2,368,499 SH   DFND 1,785,233 0 583,266
INTERCONTINENTAL EXCHANGE IN COM 45866F104 174,936 2,297,551 SH   DFND 1 1,869,999 0 427,552
MOODYS CORP COM 615369105 55,768 307,955 SH   DFND 1 250,709 0 57,246
MOODYS CORP COM 615369105 57,494 317,490 SH   DFND 239,309 0 78,181
PRIMERICA INC COM 74164M108 58,320 477,445 SH   DFND 359,929 0 117,516
PRIMERICA INC COM 74164M108 56,595 463,320 SH   DFND 1 377,229 0 86,091
S&P GLOBAL INC COM 78409V104 299,272 1,421,381 SH   DFND 1 1,156,605 0 264,776
S&P GLOBAL INC COM 78409V104 308,573 1,465,555 SH   DFND 1,104,829 0 360,726
SENSATA TECHNOLOGIES HLDNG P SHS G8060N102 103,719 2,303,839 SH   DFND 1,736,598 0 567,241
SENSATA TECHNOLOGIES HLDNG P SHS G8060N102 100,446 2,231,139 SH   DFND 1 1,815,128 0 416,011
SS&C TECHNOLOGIES HLDGS INC COM 78467J100 114,761 1,801,864 SH   DFND 1,358,172 0 443,692
SS&C TECHNOLOGIES HLDGS INC COM 78467J100 111,411 1,749,277 SH   DFND 1 1,423,531 0 325,746
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 82,701 2,019,078 SH   DFND 1,522,472 0 496,606
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 80,072 1,954,879 SH   DFND 1 1,591,036 0 363,843
THERMO FISHER SCIENTIFIC INC COM 883556102 137,746 503,238 SH   DFND 1 409,729 0 93,509
THERMO FISHER SCIENTIFIC INC COM 883556102 141,926 518,507 SH   DFND 390,835 0 127,672
TRINET GROUP INC COM 896288107 128,610 2,152,829 SH   DFND 1,622,375 0 530,454
TRINET GROUP INC COM 896288107 124,834 2,089,624 SH   DFND 1 1,700,197 0 389,427
VERISIGN INC COM 92343E102 143,499 790,366 SH   DFND 595,893 0 194,473
VERISIGN INC COM 92343E102 139,135 766,328 SH   DFND 1 623,833 0 142,495
VISA INC COM CL A 92826C839 215,754 1,381,353 SH   DFND 1,041,321 0 340,032
VISA INC COM CL A 92826C839 209,466 1,341,097 SH   DFND 1 1,091,779 0 249,318
WILLIS TOWERS WATSON PUB LTD SHS G96629103 219,883 1,251,824 SH   DFND 943,835 0 307,989
WILLIS TOWERS WATSON PUB LTD SHS G96629103 213,556 1,215,803 SH   DFND 1 989,709 0 226,094
ZOETIS INC CL A 98978V103 187,693 1,864,443 SH   DFND 1 1,517,111 0 347,332
ZOETIS INC CL A 98978V103 193,184 1,918,982 SH   DFND 1,446,388 0 472,594