Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
MSFT	MICROSOFT CORP	10,020,534	$2.574B	11.4%	$256.83 *	$117.79	+123.6%	COM	594918104
PM	PHILIP MORRIS INTERNATIONAL	16,478,425	$1.627B	7.2%	$98.74 *	$58.91	+45.0%	COM	718172109
EL	ESTEE LAUDER COMPANIES CL A	5,951,296	$1.516B	6.7%	$254.67 *	$116.85	+104.1%	CL A	518439104
MKC	MCCORMICK & CO NON VTG SHRS	15,492,883	$1.29B	5.7%	$83.25 *	$75.63	+15.1%	COM NON VTG	579780206
IDXX	IDEXX LABORATORIES INC	3,618,875	$1.269B	5.6%	$350.73 *	$140.18	+190.9%	COM	45168D104
WAT	WATERS CORP	3,689,225	$1.221B	5.4%	$330.98 *	$164.82	+92.6%	COM	941848103
SYK	STRYKER CORP	6,049,848	$1.203B	5.3%	$198.93 *	$117.22	+92.7%	COM	863667101
PEP	PEPSICO INC	7,137,026	$1.189B	5.2%	$166.66 *	$85.96	+74.3%	COM	713448108
ADP	AUTOMATIC DATA PROCESSING	5,565,378	$1.169B	5.2%	$210.04 *	$91.18	+122.1%	COM	053015103
V	VISA INC CLASS A SHARES	5,630,342	$1.109B	4.9%	$196.89 *	$90.88	+121.3%	COM CL A	92826C839
INTU	INTUIT INC	2,371,428	$914M	4.0%	$385.44 *	$154.76	+161.4%	COM	461202103
META	META PLATFORMS INC-CLASS A	5,477,481	$883M	3.9%	$161.25 *	$185.23	+3.4%	CL A	30303M102
BF/B	BROWN FORMAN CORP CLASS B	12,213,131	$857M	3.8%	$70.16 *	$57.74	+8.3%	CL B	115637209
CHD	CHURCH AND DWIGHT ORD	8,444,261	$782M	3.5%	$92.66 *	$82.47	+9.7%	COM	171340102
ADBE	ADOBE ORD	2,108,848	$772M	3.4%	$366.06 *	$474.58	-14.2%	COM	00724F101
AMZN	AMAZON COM ORD	6,779,020	$720M	3.2%	$106.21 *	$127.49	-1.8%	COM	023135106
NKE	NIKE INC CL B	6,727,737	$688M	3.0%	$102.20 *	$91.18	+22.1%	CL B	654106103
PYPL	PAYPAL HOLDINGS INC	9,651,818	$674M	3.0%	$69.84 *	$80.54	+7.5%	COM	70450Y103
MTD	METTLER TOLEDO ORD	540,452	$621M	2.7%	$1148.77 *	$1399.11	-10.2%	COM	592688105
SABR	SABRE CORP	22,469,835	$131M	0.6%	$5.83 *	$13.68	-38.9%	COM	78573M104
FTNT	FORTINET ORD	2,289,070	$130M	0.6%	$56.58 *	$52.54	+13.0%	COM	34959E109
QLYS	QUALYS INC	930,206	$117M	0.5%	$126.14 *	$105.36	+24.3%	COM	74758T303
VRSN	VERISIGN INC	667,498	$112M	0.5%	$167.33 *	$181.83	+0.0%	COM	92343E102
MASI	MASIMO CORP	756,313	$98.83M	0.4%	$130.67 *	$148.22	-9.7%	COM	574795100
VRSK	VERISK ANALYTICS INC	524,820	$90.84M	0.4%	$173.09 *	$131.06	+38.9%	COM	92345Y106
—	ANSYS INC	379,135	$90.72M	0.4%	$239.29	$210.15	—	COM	03662Q105
EFX	EQUIFAX INC	490,113	$89.58M	0.4%	$182.78 *	$112.00	+74.0%	COM	294429105
CGNX	COGNEX CORP	2,037,105	$86.62M	0.4%	$42.52 *	$48.06	+13.6%	COM	192422103
MSCI	MSCI INC	209,104	$86.18M	0.4%	$412.15	$154.86	+169.8%	COM	55354G100
IPGP	IPG PHOTONICS CORP	845,311	$79.57M	0.4%	$94.13 *	$150.19	-34.2%	COM	44980X109
PAYC	PAYCOM SOFTWARE INC	255,722	$71.63M	0.3%	$280.12 *	$182.12	+58.8%	COM	70432V102
ROL	ROLLINS ORD	1,879,272	$65.62M	0.3%	$34.92 *	$33.49	-2.1%	COM	775711104
WING	WINGSTOP ORD	825,464	$61.72M	0.3%	$74.77 *	$141.46	-38.4%	COM	974155103
JNJ	JOHNSON & JOHNSON	273,454	$48.54M	0.2%	$177.51 *	$104.20	+53.5%	COM	478160104
PG	PROCTER & GAMBLE ORD	312,618	$44.95M	0.2%	$143.79 *	$122.57	+12.0%	COM	742718109
HD	HOME DEPOT ORD	151,505	$41.55M	0.2%	$274.27	$296.00	-9.1%	COM	437076102
GOOGL	ALPHABET CL A ORD	381,252	$41.54M	0.2%	$108.96 *	$142.94	-18.3%	CAP STK CL A	02079K305
ZTS	ZOETIS CL A ORD	222,053	$38.17M	0.2%	$171.89 *	$162.21	+2.8%	CL A	98978V103
MELI	MERCADOLIBRE	24,225	$15.43M	0.1%	$636.86 *	$433.52	+101.1%	COM	58733R102
—	WNS HOLDINGS - ADR	193,179	$14.42M	0.1%	$74.64	$80.75	—	SPONSORED ADS	92932M101
G	Genpact Ltd	317,337	$13.44M	0.1%	$42.36 *	$46.94	-14.0%	SHS	G3922B107
TSM	Taiwan Semiconductor Manufacturing US ADR	155,558	$12.72M	0.1%	$81.75	$108.32	—	SPONSORED ADS	874039100
XP	XP CLASS A	253,367	$4.55M	0.0%	$17.96 *	$33.80	-31.9%	CL A	G98239109