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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
ALPHABET C CL C 02079K107 61,338 54,980 SH   SOLE   54,980 0 0
AMERICAN EXPRESS CO COM 025816109 39,202 400,024 SH   SOLE   400,024 0 0
AUTOZONE INC COM 053332102 53,197 79,288 SH   SOLE   79,288 0 0
ESTEE LAUDER COMPANIES-CL A COM 518439104 32,469 227,550 SH   SOLE   227,550 0 0
EXPEDITORS INTL WASH INC COM 302130109 152,306 2,083,526 SH   SOLE   2,083,526 0 0
MASTERCARD INC - A CL A 57636Q104 118,587 603,435 SH   SOLE   603,435 0 0
S&P GLOBAL INC COM 78409V104 55,718 273,277 SH   SOLE   273,277 0 0
MOODY'S CORP COM 615369105 61,141 358,473 SH   SOLE   358,473 0 0
STARBUCKS CORP COM 855244109 114,370 2,341,252 SH   SOLE   2,341,252 0 0
VISA INC-CLASS A SHARES COM CL A 92826C839 37,266 281,360 SH   SOLE   281,360 0 0
Procter & Gamble COM 742718109 66,082 846,550 SH   SOLE   846,550 0 0
NIKE INC -CL B CL B 654106103 58,493 734,097 SH   SOLE   734,097 0 0