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 32,339 236,895 SH   SOLE NONE 236,895 0 0
58.COM INC ADR 31680Q104 390 8,000 SH   SOLE NONE 8,000 0 0
ACCENTURE PLC CLASS A G1151C101 283,864 1,738,725 SH   OTR 1 1,731,825 6,900 0
ALAMO GROUP INC COM 011311107 21,352 240,500 SH   SOLE NONE 240,500 0 0
ALIBABA GROUP HOLDING-SP ADR 01609W102 79,006 406,244 SH   SOLE NONE 406,244 0 0
ALLEGION PLC COM G0176J109 43,665 474,513 SH   SOLE NONE 474,513 0 0
ALLERGAN PLC COM G0177J108 21,675 122,387 SH   SOLE NONE 122,387 0 0
ALPHABET INC CLASS A 02079K305 13,860 11,650 SH   SOLE NONE 11,650 0 0
ALPHABET INC CLASS C 02079K107 496,659 426,470 SH   OTR 1 425,297 1,173 0
AMAZON.COM INC COM 023135106 332,895 170,740 SH   OTR 1 170,220 520 0
AMERISOURCEBERGEN CORP COM 03073E105 29,883 337,664 SH   SOLE NONE 337,664 0 0
AMETEK INC COM 031100100 257,651 3,567,873 SH   OTR 1 3,558,623 9,250 0
AMPHENOL CORP CLASS A 032095101 200,695 2,753,774 SH   OTR 1 2,745,574 8,200 0
ANHEUSER-BUSCH INBEV-SPN ADR 03524A108 1,315 29,794 SH   SOLE NONE 29,794 0 0
ANSYS INC COM 03662Q105 126,977 544,368 SH   SOLE NONE 544,368 0 0
AON PLC COM G0408V102 884,972 5,362,167 SH   OTR 1 5,352,317 9,850 0
APTARGROUP INC COM 038336103 110,570 1,108,749 SH   SOLE NONE 1,108,749 0 0
ARTHUR J GALLAGHER & CO COM 363576109 16,463 201,975 SH   SOLE NONE 201,975 0 0
AUTOHOME INC ADR 05278C107 540 7,600 SH   SOLE NONE 7,600 0 0
BAXTER INTERNATIONAL INC COM 071813109 271,214 3,340,481 SH   OTR 1 3,329,681 10,800 0
BECTON DICKINSON AND CO COM 075887109 143,983 625,023 SH   SOLE NONE 625,023 0 0
BLACKROCK INC COM 09247X101 101,845 231,482 SH   OTR 1 230,832 650 0
BOOKING HOLDINGS INC COM 09857L108 34,661 25,764 SH   SOLE NONE 25,764 0 0
BROOKFIELD ASSET MANAGE CLASS A 112585104 21,775 492,080 SH   SOLE NONE 492,080 0 0
CANADIAN PACIFIC RAILWAY LTD COM 13645T100 7,565 31,969 SH   SOLE NONE 31,969 0 0
CBIZ INC COM 124805102 45,928 2,195,400 SH   SOLE NONE 2,195,400 0 0
CBOE GLOBAL MARKETS INC COM 12503M108 30,935 346,610 SH   SOLE NONE 346,610 0 0
CERNER CORP COM 156782104 10,047 159,496 SH   SOLE NONE 159,496 0 0
CHASE CORP COM 16150R104 24,308 295,400 SH   SOLE NONE 295,400 0 0
CIA CERVECERIAS UNI-SPON ADR 204429104 50,709 3,789,874 SH   OTR 1 3,781,929 7,945 0
CINEMARK HOLDINGS INC COM 17243V102 5,922 581,124 SH   SOLE NONE 581,124 0 0
CME GROUP INC COM 12572Q105 130,314 748,607 SH   SOLE NONE 748,607 0 0
COGNIZANT TECH SOLUTION CLASS A 192446102 79,631 1,713,605 SH   SOLE NONE 1,713,605 0 0
COMCAST CORP CLASS A 20030N101 233,925 6,775,275 SH   OTR 1 6,762,125 13,150 0
CSX CORP COM 126408103 105,069 1,833,670 SH   OTR 1 1,827,970 5,700 0
DANAHER CORP COM 235851102 12,041 86,995 SH   SOLE NONE 86,995 0 0
DENTSPLY SIRONA INC COM 24906P109 14,728 379,290 SH   SOLE NONE 379,290 0 0
DOUGLAS DYNAMICS INC COM 25960R105 15,192 427,831 SH   SOLE NONE 427,831 0 0
ECOLAB INC COM 278865100 46,183 296,370 SH   SOLE NONE 296,370 0 0
FASTENAL CO COM 311900104 36,994 1,183,795 SH   SOLE NONE 1,183,795 0 0
GILEAD SCIENCES INC COM 375558103 72,516 969,982 SH   SOLE NONE 969,982 0 0
HEADHUNTER GROUP PLC ADR 42207L106 599 37,500 SH   SOLE NONE 37,500 0 0
HERSHEY CO/THE COM 427866108 74,719 563,915 SH   SOLE NONE 563,915 0 0
HOLOGIC INC COM 436440101 43,473 1,238,537 SH   SOLE NONE 1,238,537 0 0
IAA INC COM 449253103 68,042 2,235,995 SH   SOLE NONE 2,235,995 0 0
IHS MARKIT LTD COM G47567105 191,557 3,192,620 SH   OTR 1 3,186,120 6,500 0
INFOSYS LTD-SP ADR 456788108 847 103,200 SH   SOLE NONE 103,200 0 0
INSPERITY INC COM 45778Q107 36,492 978,340 SH   OTR 1 975,940 2,400 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 322,216 3,990,288 SH   OTR 1 3,977,688 12,600 0
INTERCONTINENTAL HOTELS ADR 45857P806 830 19,690 SH   SOLE NONE 19,690 0 0
INTUIT INC COM 461202103 85,169 365,634 SH   SOLE NONE 365,634 0 0
JOHNSON & JOHNSON COM 478160104 431,754 3,289,841 SH   OTR 1 3,279,811 10,030 0
JPMORGAN CHASE & CO COM 46625H100 252,816 2,796,776 SH   OTR 1 2,788,526 8,250 0
KAR AUCTION SERVICES INC COM 48238T109 4,167 347,255 SH   SOLE NONE 347,255 0 0
LINDE PLC COM G5494J103 203,466 1,176,104 SH   OTR 1 1,172,154 3,950 0
MARSH & MCLENNAN COS COM 571748102 370,124 4,265,831 SH   OTR 1 4,256,431 9,400 0
MASTERCARD INC - A COM 57636Q104 80,940 335,074 SH   SOLE NONE 335,074 0 0
MICROSOFT CORP COM 594918104 633,279 4,011,322 SH   OTR 1 3,999,272 12,050 0
MORNINGSTAR INC COM 617700109 59,288 510,000 SH   SOLE NONE 510,000 0 0
NETEASE INC ADR 64110W102 98,940 308,262 SH   SOLE NONE 308,262 0 0
NEW ORIENTAL EDUCATIO-SP ADR 647581107 249 2,300 SH   SOLE NONE 2,300 0 0
NIKE INC CLASS B 654106103 96,870 1,166,050 SH   SOLE NONE 1,166,050 0 0
NOVARTIS AG-SPONSORED ADR 66987V109 636,623 7,721,327 SH   OTR 1 7,704,877 16,450 0
ORACLE CORP COM 68389X105 9,084 187,949 SH   SOLE NONE 187,949 0 0
PAYCHEX INC COM 704326107 71,037 1,129,008 SH   SOLE NONE 1,129,008 0 0
PAYPAL HOLDINGS INC COM 70450Y103 20,600 215,169 SH   SOLE NONE 215,169 0 0
PEPSICO INC COM 713448108 178,324 1,480,539 SH   OTR 1 1,476,239 4,300 0
PROCTER & GAMBLE CO/THE COM 742718109 140,242 1,271,049 SH   SOLE NONE 1,271,049 0 0
ROGERS COMMUNICATIONS IN CLASS B 775109200 2,380 57,317 SH   SOLE NONE 57,317 0 0
RPM INTERNATIONAL INC COM 749685103 47,578 799,631 SH   SOLE NONE 799,631 0 0
S&P GLOBAL INC COM 78409V104 388,639 1,585,957 SH   OTR 1 1,580,440 5,517 0
SHENANDOAH TELECOMMUNICATION COM 82312B106 26,124 530,442 SH   SOLE NONE 530,442 0 0
SHERWIN-WILLIAMS CO/THE COM 824348106 32,439 70,593 SH   SOLE NONE 70,593 0 0
SMITH (A.O.) CORP COM 831865209 42,639 1,127,712 SH   SOLE NONE 1,127,712 0 0
STATE STREET CORP COM 857477103 43,057 808,270 SH   SOLE NONE 808,270 0 0
TAIWAN SEMICONDUCTOR-SP ADR 874039100 56,043 1,172,689 SH   OTR 1 1,164,489 8,200 0
TEXAS INSTRUMENTS INC COM 882508104 23,121 231,368 SH   SOLE NONE 231,368 0 0
TORONTO-DOMINION BANK COM 891160509 23,751 560,300 SH   SOLE NONE 560,300 0 0
TRIMAS CORP COM 896215209 32,994 1,428,313 SH   SOLE NONE 1,428,313 0 0
UNITED TECHNOLOGIES CORP COM 913017109 35,560 376,972 SH   SOLE NONE 376,972 0 0
UNION PACIFIC CORP COM 907818108 239,804 1,700,254 SH   OTR 1 1,694,074 6,180 0
VANGUARD TOTAL INTL STOCK ETF 921909768 1,221 29,100 SH   SOLE NONE 29,100 0 0
VERISK ANALYTICS INC COM 92345Y106 250,180 1,786,146 SH   OTR 1 1,784,006 2,140 0
VERIZON COMMUNICATIONS INC COM 92343V104 281,510 5,239,343 SH   OTR 1 5,225,993 13,350 0
VISA INC-CLASS A SHARES COM 92826C839 488,276 3,022,031 SH   OTR 1 3,013,881 8,150 0
WATERS CORP COM 941848103 109,270 598,217 SH   SOLE NONE 598,217 0 0
WELLS FARGO & CO COM 949746101 52,342 1,800,797 SH   SOLE NONE 1,800,797 0 0
WEST PHARMACEUTICAL SERVICES COM 955306105 27,638 181,532 SH   SOLE NONE 181,532 0 0
WILLIS TOWERS WATSON PLC COM G96629103 80,152 471,900 SH   SOLE NONE 471,900 0 0
WINMARK CORP COM 974250102 21,748 170,682 SH   OTR 1 170,513 169 0