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
Expires: July 31, 2015
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
AUTOMATIC DATA PROCESSING IN COM 053015103 256,081,002 1,143,474 SH SOLE 1,143,474 0 0
AUTOZONE INC COM 053332102 259,992,915 81,351 SH SOLE 81,351 0 0
GALLAGHER ARTHUR J & CO COM 363576109 151,495,080 659,908 SH SOLE 659,908 0 0
MASTERCARD INCORPORATED CL A 57636Q104 248,817,115 484,457 SH SOLE 484,457 0 0
MOODYS CORP COM 615369105 210,418,932 464,583 SH SOLE 464,583 0 0
OTIS WORLDWIDE CORP COM 68902V107 278,197,862 3,885,445 SH SOLE 3,885,445 0 0
S&P GLOBAL INC COM 78409V104 320,326,280 786,540 SH SOLE 786,540 0 0
SALESFORCE INC COM 79466L302 116,999,171 746,835 SH SOLE 746,835 0 0
VISA INC COM CL A 92826C839 179,282,366 522,552 SH SOLE 522,552 0 0
YUM CHINA HLDGS INC COM 98850P109 442,841,245 10,835,362 SH SOLE 10,835,362 0 0
ZOETIS INC CL A 98978V103 131,538,868 1,830,488 SH SOLE 1,830,488 0 0