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
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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
Accenture PLC Ireland SHS CLASS A G1151C101 389,946 3,731,540 SH   SOLE None 3,731,540 0 0
Alleghany Corp Del COM 017175100 116,187 243,105 SH   SOLE None 243,105 0 0
American Tower Corp New COM 03027X100 273,037 2,816,262 SH   SOLE None 2,816,262 0 0
Amerisourcebergen Corp COM 03073E105 199,642 1,925,000 SH   SOLE None 1,925,000 0 0
Arrow Electrs Inc COM 042735100 74,989 1,384,077 SH   SOLE None 1,384,077 0 0
Avis Budget Group COM 053774105 47,177 1,300,000 SH   SOLE None 1,300,000 0 0
Bank New York Mellon Corp COM 064058100 68,047 1,650,824 SH   SOLE None 1,650,824 0 0
Becton Dickinson & Co COM 075887109 193,239 1,254,063 SH   SOLE None 1,254,063 0 0
Berkshire Hathaway Inc Del CL B NEW 084670702 297,874 2,255,936 SH   SOLE None 2,255,936 0 0
Brookdale SR Living Inc COM 112463104 31,382 1,700,000 SH   SOLE None 1,700,000 0 0
Brown & Brown Inc COM 115236101 74,514 2,321,295 SH   SOLE None 2,321,295 0 0
Bard C R Inc COM 067383109 383,616 2,025,000 SH   SOLE None 2,025,000 0 0
Cemex SAB DE CV SPON ADR NEW 151290889 19,985 3,588,000 SH   SOLE None 3,588,000 0 0
Cheesecake Factory Inc COM 163072101 1,692 36,695 SH   SOLE None 36,695 0 0
Cisco Sys Inc COM 17275R102 275,120 10,131,466 SH   SOLE None 10,131,466 0 0
Citigroup Inc COM NEW 172967424 118,497 2,289,790 SH   SOLE None 2,289,790 0 0
Coca Cola Co COM 191216100 277,477 6,458,956 SH   SOLE None 6,458,956 0 0
Comcast Corp New CL A 20030N101 345,548 6,123,475 SH   SOLE None 6,123,475 0 0
Covanta Hldg Corp COM 22282E102 106,107 6,850,000 SH   SOLE None 6,850,000 0 0
Credicorp Ltd COM G2519Y108 15,863 163,000 SH   SOLE None 163,000 0 0
Danaher Corp Del COM 235851102 310,633 3,344,460 SH   SOLE None 3,344,460 0 0
Delta Air Lines Inc Del COM NEW 247361702 41,499 818,690 SH   SOLE None 818,690 0 0
Eagle Materials Inc COM 26969P108 51,785 856,939 SH   SOLE None 856,939 0 0
Equifax Inc COM 294429105 192,113 1,725,000 SH   SOLE None 1,725,000 0 0
Fiserv Inc COM 337738108 320,567 3,505,000 SH   SOLE None 3,505,000 0 0
Fleetcor Technologies Inc COM 339041105 103,624 725,000 SH   SOLE None 725,000 0 0
Flowers Foods Inc COM 343498101 47,453 2,208,149 SH   SOLE None 2,208,149 0 0
Goldman Sachs Group Inc COM 38141G104 86,510 480,000 SH   SOLE None 480,000 0 0
Grupo Aval Acciones Y Valore SPONSORED ADS 40053W101 10,693 1,640,000 SH   SOLE None 1,640,000 0 0
Grupo Financiero Santander M SPON ADR SHS B 40053C105 45,904 5,294,628 SH   SOLE None 5,294,628 0 0
Grupo Televisa SA SPON ADR REP ORD 40049J206 952 35,000 SH   SOLE None 35,000 0 0
Schein Henry Inc COM 806407102 51,136 323,260 SH   SOLE None 323,260 0 0
Hilton Worldwide Hldgs Inc COM 43300A104 32,532 1,520,173 SH   SOLE None 1,520,173 0 0
Home Depot Inc COM 437076102 195,730 1,480,000 SH   SOLE None 1,480,000 0 0
Itau Unibanco Hldg SA SPON ADR REP PFD 465562106 14,961 2,298,200 SH   SOLE None 2,298,200 0 0
JPMorgan Chase & Co COM 46625H100 54,013 818,000 SH   SOLE None 818,000 0 0
KKR & Co L P Del COM UNITS 48248M102 183,183 11,750,000 SH   SOLE None 11,750,000 0 0
Linear Technology Corp COM 535678106 15,087 355,240 SH   SOLE None 355,240 0 0
Martin Marietta Matls Inc COM 573284106 265,066 1,940,740 SH   SOLE None 1,940,740 0 0
Mastercard Inc CL A 57636Q104 92,492 950,000 SH   SOLE None 950,000 0 0
Medtronic PLC SHS G5960L103 246,144 3,200,000 SH   SOLE None 3,200,000 0 0
Microsoft Corp COM 594918104 413,659 7,456,000 SH   SOLE None 7,456,000 0 0
National Instrs Corp COM 636518102 77,463 2,700,000 SH   SOLE None 2,700,000 0 0
Oracle Corp COM 68389X105 86,958 2,380,456 SH   SOLE None 2,380,456 0 0
PPG Inds Inc COM 693506107 150,466 1,522,630 SH   SOLE None 1,522,630 0 0
Procter & Gamble Co COM 742718109 110,288 1,388,839 SH   SOLE None 1,388,839 0 0
Sabre Corp COM 78573M104 172,177 6,155,760 SH   SOLE None 6,155,760 0 0
Schlumberger Ltd COM 806857108 86,988 1,247,135 SH   SOLE None 1,247,135 0 0
Sherwin Williams Co COM 824348106 112,161 432,053 SH   SOLE None 432,053 0 0
Snap On Inc COM 833034101 34,286 200,000 SH   SOLE None 200,000 0 0
Spirit Aerosystems Hldgs Inc COM CL A 848574109 107,651 2,150,000 SH   SOLE None 2,150,000 0 0
State Str Corp COM 857477103 72,337 1,090,062 SH   SOLE None 1,090,062 0 0
Suncor Energy Inc New COM 867224107 206,400 8,000,000 SH   SOLE None 8,000,000 0 0
Texas Instrs Inc COM 882508104 86,780 1,583,280 SH   SOLE None 1,583,280 0 0
Thermo Fisher Scientific Inc COM 883556102 107,806 760,000 SH   SOLE None 760,000 0 0
Time Warner Cable Inc COM 88732J207 165,029 889,211 SH   SOLE None 889,211 0 0
US Bancorp Del COM NEW 902973304 55,569 1,302,285 SH   SOLE None 1,302,285 0 0
Union Pac Corp COM 907818108 85,200 1,089,518 SH   SOLE None 1,089,518 0 0
United Parcel Service Inc CL B 911312106 108,710 1,129,690 SH   SOLE None 1,129,690 0 0
Universal Hlth Svcs Inc CL B 913903100 102,427 857,200 SH   SOLE None 857,200 0 0
Visa Inc COM CL A 92826C839 192,243 2,478,959 SH   SOLE None 2,478,959 0 0
Vulcan Matls Co COM 929160109 53,340 561,654 SH   SOLE None 561,654 0 0
Wabco Hldgs Inc COM 92927K102 153,690 1,502,933 SH   SOLE None 1,502,933 0 0
Waste Connections Inc COM 941053100 207,220 3,679,324 SH   SOLE None 3,679,324 0 0
Wells Fargo & Co New COM 949746101 140,017 2,575,740 SH   SOLE None 2,575,740 0 0
Wabtec Corp COM 929740108 32,004 450,000 SH   SOLE None 450,000 0 0