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

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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
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107 24,637 3,060,500 SH   SOLE   3,060,500 0 0
AUTONATION INC COM 05329W102 80,297 1,898,717 SH   SOLE   1,898,717 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 10,725,853 64,349,971 SH   SOLE   64,349,971 0 0
CANADIAN NATL RY CO COM 136375102 1,266,190 17,126,874 SH   SOLE   17,126,874 0 0
CATERPILLAR INC DEL COM 149123101 1,044,557 11,260,857 SH   SOLE   11,260,857 0 0
COCA COLA FEMSA S A B DE C V SPON ADR REP L 191241108 445,595 6,214,719 SH   SOLE   6,214,719 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 503,692 5,332,900 SH   SOLE   5,332,900 0 0
ECOLAB INC COM 278865100 547,288 4,366,426 SH   SOLE   4,366,426 0 0
FEDEX CORP COM 31428X106 590,329 3,024,999 SH   SOLE   3,024,999 0 0
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 437,844 16,879,104 SH   SOLE   16,879,104 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 76,027 2,119,515 SH   SOLE   2,119,515 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 127,523 3,639,349 SH   SOLE   3,639,349 0 0
LIBERTY GLOBAL PLC LILAC SHS CL A G5480U138 8,238 370,424 SH   SOLE   370,424 0 0
LIBERTY GLOBAL PLC LILAC SHS CL C G5480U153 14,654 636,044 SH   SOLE   636,044 0 0
UNITED PARCEL SERVICE INC CL B 911312106 485,568 4,525,329 SH   SOLE   4,525,329 0 0
WAL-MART STORES INC COM 931142103 836,344 11,603,000 SH   SOLE   11,603,000 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 288,632 3,475,398 SH   SOLE   3,475,398 0 0
WASTE MGMT INC DEL COM 94106L109 1,358,767 18,633,672 SH   SOLE   18,633,672 0 0