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
3M CO COM 88579Y101 32,364 196,860 SH   SOLE NONE 196,860 0 0
ACCENTURE PLC CLASS A G1151C101 5,451 28,339 SH   SOLE NONE 28,339 0 0
ALAMO GROUP INC COM 011311107 41,744 354,600 SH   SOLE NONE 354,600 0 0
ALIBABA GROUP HOLDING-SP ADR 01609W102 2,224 13,300 SH   SOLE NONE 13,300 0 0
ALLEGION PLC COM G0176J109 45,873 442,578 SH   SOLE NONE 442,578 0 0
ALLERGAN PLC COM G0177J108 18,618 110,632 SH   SOLE NONE 110,632 0 0
ALPHABET INC CLASS A 02079K305 14,237 11,652 SH   SOLE NONE 11,652 0 0
ALPHABET INC CLASS C 02079K107 480,298 393,984 SH   OTR 1 392,951 1,033 0
AMAZON.COM INC COM 023135106 44,273 25,504 SH   SOLE NONE 25,504 0 0
AMERISOURCEBERGEN CORP COM 03073E105 18,796 228,305 SH   SOLE NONE 228,305 0 0
AMETEK INC COM 031100100 304,648 3,318,044 SH   OTR 1 3,309,794 8,250 0
AMPHENOL CORP CLASS A 032095101 242,505 2,513,005 SH   OTR 1 2,505,705 7,300 0
ANHEUSER-BUSCH INBEV-SPN ADR 03524A108 2,974 31,258 SH   SOLE NONE 31,258 0 0
ANSYS INC COM 03662Q105 128,782 582,217 SH   SOLE NONE 582,217 0 0
AON PLC COM G0408V102 1,116,708 5,769,016 SH   OTR 1 5,759,266 9,750 0
APTARGROUP INC COM 038336103 108,453 915,540 SH   SOLE NONE 915,540 0 0
BAXTER INTERNATIONAL INC COM 071813109 276,264 3,158,391 SH   OTR 1 3,148,691 9,700 0
BECTON DICKINSON AND CO COM 075887109 365,784 1,446,472 SH   OTR 1 1,442,912 3,560 0
BLACKROCK INC COM 09247X101 99,706 223,737 SH   OTR 1 223,137 600 0
BOOKING HOLDINGS INC COM 09857L108 60,572 30,863 SH   SOLE NONE 30,863 0 0
BROOKFIELD ASSET MANAGE CLASS A 112585104 26,586 500,780 SH   SOLE NONE 500,780 0 0
CANADIAN NATURAL RESOURCES COM 136385101 1,960 73,600 SH   SOLE NONE 73,600 0 0
CBIZ INC COM 124805102 38,224 1,626,557 SH   SOLE NONE 1,626,557 0 0
CERNER CORP COM 156782104 16,775 246,071 SH   SOLE NONE 246,071 0 0
CHASE CORP COM 16150R104 32,719 299,100 SH   SOLE NONE 299,100 0 0
CHINA MOBILE LTD-SPON ADR 16941M109 840 20,290 SH   SOLE NONE 20,290 0 0
CIA CERVECERIAS UNI-SPON ADR 204429104 78,956 3,558,174 SH   OTR 1 3,550,229 7,945 0
CINEMARK HOLDINGS INC COM 17243V102 20,268 524,539 SH   SOLE NONE 524,539 0 0
CME GROUP INC COM 12572Q105 149,412 706,751 SH   SOLE NONE 706,751 0 0
COMCAST CORP CLASS A 20030N101 295,553 6,556,957 SH   OTR 1 6,544,907 12,050 0
CSX CORP COM 126408103 184,420 2,662,335 SH   OTR 1 2,652,835 9,500 0
DANAHER CORP COM 235851102 11,318 78,365 SH   SOLE NONE 78,365 0 0
DENTSPLY SIRONA INC COM 24906P109 28,578 536,078 SH   SOLE NONE 536,078 0 0
DOUGLAS DYNAMICS INC COM 25960R105 19,251 431,931 SH   SOLE NONE 431,931 0 0
ECOLAB INC COM 278865100 45,278 228,630 SH   SOLE NONE 228,630 0 0
FACTSET RESEARCH SYSTEMS INC COM 303075105 19,743 81,256 SH   SOLE NONE 81,256 0 0
GILEAD SCIENCES INC COM 375558103 58,478 922,653 SH   SOLE NONE 922,653 0 0
HERSHEY CO/THE COM 427866108 78,533 506,695 SH   SOLE NONE 506,695 0 0
HOLOGIC INC COM 436440101 30,669 607,418 SH   SOLE NONE 607,418 0 0
IAA INC COM 449253103 191,807 4,593,806 SH   OTR 1 4,582,914 10,892 0
IHS MARKIT LTD COM G47567105 206,586 3,088,900 SH   OTR 1 3,083,100 5,800 0
INFOSYS LTD-SP ADR 456788108 2,001 176,000 SH   SOLE NONE 176,000 0 0
INSPERITY INC COM 45778Q107 28,136 285,300 SH   SOLE NONE 285,300 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 88,077 954,553 SH   SOLE NONE 954,553 0 0
INTERCONTINENTAL HOTELS ADR 45857P806 1,405 22,559 SH   SOLE NONE 22,559 0 0
INTL SPEEDWAY CORP CLASS A 460335201 33,990 755,170 SH   SOLE NONE 755,170 0 0
INTUIT INC COM 461202103 88,526 333,072 SH   SOLE NONE 333,072 0 0
ITAU UNIBANCO H-SPON PRF ADR 465562106 154 18,350 SH   OTR 1 0 18,350 0
JOHNSON & JOHNSON COM 478160104 279,614 2,161,371 SH   OTR 1 2,155,341 6,030 0
JPMORGAN CHASE & CO COM 46625H100 500,547 4,253,066 SH   OTR 1 4,239,316 13,750 0
KAR AUCTION SERVICES INC COM 48238T109 94,365 3,843,792 SH   OTR 1 3,832,500 11,292 0
LINDE PLC COM G5494J103 218,956 1,130,269 SH   OTR 1 1,126,819 3,450 0
LKQ CORP COM 501889208 19,936 633,882 SH   SOLE NONE 633,882 0 0
MARSH & MCLENNAN COS COM 571748102 340,694 3,405,411 SH   OTR 1 3,399,611 5,800 0
MASTERCARD INC - A COM 57636Q104 90,305 332,531 SH   SOLE NONE 332,531 0 0
MICROSOFT CORP COM 594918104 443,734 3,192,048 SH   OTR 1 3,183,098 8,950 0
MORNINGSTAR INC COM 617700109 75,058 513,600 SH   SOLE NONE 513,600 0 0
NIELSEN HOLDINGS PLC COM G6518L108 12,020 565,625 SH   SOLE NONE 565,625 0 0
NIKE INC CLASS B 654106103 104,697 1,115,428 SH   SOLE NONE 1,115,428 0 0
NOVARTIS AG-SPONSORED ADR 66987V109 520,565 5,990,387 SH   OTR 1 5,981,337 9,050 0
ORACLE CORP COM 68389X105 15,676 284,865 SH   SOLE NONE 284,865 0 0
PAYCHEX INC COM 704326107 74,626 901,611 SH   SOLE NONE 901,611 0 0
PAYPAL HOLDINGS INC COM 70450Y103 20,002 193,089 SH   SOLE NONE 193,089 0 0
PEPSICO INC COM 713448108 190,396 1,389,053 SH   OTR 1 1,385,253 3,800 0
PPG INDUSTRIES INC COM 693506107 97,163 819,870 SH   OTR 1 816,970 2,900 0
PROCTER & GAMBLE CO/THE COM 742718109 140,241 1,127,445 SH   SOLE NONE 1,127,445 0 0
ROGERS COMMUNICATIONS IN CLASS B 775109200 2,808 57,617 SH   SOLE NONE 57,617 0 0
ROYAL BANK OF CANADA COM 780087102 6,582 81,100 SH   SOLE NONE 81,100 0 0
RPM INTERNATIONAL INC COM 749685103 38,509 559,639 SH   SOLE NONE 559,639 0 0
S&P GLOBAL INC COM 78409V104 366,675 1,496,756 SH   OTR 1 1,491,839 4,917 0
SHENANDOAH TELECOMMUNICATION COM 82312B106 16,248 511,417 SH   SOLE NONE 511,417 0 0
SHERWIN-WILLIAMS CO/THE COM 824348106 41,710 75,855 SH   SOLE NONE 75,855 0 0
SMITH (A.O.) CORP COM 831865209 36,244 759,680 SH   SOLE NONE 759,680 0 0
STATE STREET CORP COM 857477103 77,593 1,310,915 SH   SOLE NONE 1,310,915 0 0
SUNCOR ENERGY INC COM 867224107 2,280 72,200 SH   SOLE NONE 72,200 0 0
TAIWAN SEMICONDUCTOR-SP ADR 874039100 51,987 1,118,474 SH   OTR 1 1,110,874 7,600 0
TEXAS INSTRUMENTS INC COM 882508104 26,642 206,143 SH   SOLE NONE 206,143 0 0
TORONTO-DOMINION BANK COM 891160509 32,643 560,300 SH   SOLE NONE 560,300 0 0
TRIMAS CORP COM 896215209 39,376 1,284,683 SH   SOLE NONE 1,284,683 0 0
UNILEVER PLC-SPONSORED ADR 904767704 281 4,683 SH   SOLE NONE 4,683 0 0
UNION PACIFIC CORP COM 907818108 307,198 1,896,519 SH   OTR 1 1,889,739 6,780 0
UNITED TECHNOLOGIES CORP COM 913017109 54,583 399,817 SH   SOLE NONE 399,817 0 0
VERISK ANALYTICS INC COM 92345Y106 287,237 1,817,052 SH   OTR 1 1,814,812 2,240 0
VERIZON COMMUNICATIONS INC COM 92343V104 279,216 4,625,845 SH   OTR 1 4,613,895 11,950 0
VISA INC-CLASS A SHARES COM 92826C839 486,881 2,829,966 SH   OTR 1 2,822,816 7,150 0
WABTEC CORP COM 929740108 15,792 219,755 SH   SOLE NONE 219,755 0 0
WATERS CORP COM 941848103 121,223 543,084 SH   SOLE NONE 543,084 0 0
WELLS FARGO & CO COM 949746101 82,473 1,634,682 SH   SOLE NONE 1,634,682 0 0
WEST PHARMACEUTICAL SERVICES COM 955306105 31,875 224,758 SH   SOLE NONE 224,758 0 0
WILLIS TOWERS WATSON PLC COM G96629103 97,867 507,160 SH   SOLE NONE 507,160 0 0
WPP PLC-SPONSORED ADR 92937A102 923 14,750 SH   SOLE NONE 14,750 0 0