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 22,801 3,060,500 SH   SOLE   3,060,500 0 0
AUTONATION INC COM 05329W102 80,050 1,898,717 SH   SOLE   1,898,717 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 10,052,105 59,349,971 SH   SOLE   59,349,971 0 0
CANADIAN NATL RY CO COM 136375102 1,388,133 17,126,874 SH   SOLE   17,126,874 0 0
CATERPILLAR INC DEL COM 149123101 1,210,092 11,260,857 SH   SOLE   11,260,857 0 0
COCA COLA FEMSA S A B DE C V SPON ADR REP L 191241108 526,200 6,214,719 SH   SOLE   6,214,719 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 534,250 5,332,900 SH   SOLE   5,332,900 0 0
ECOLAB INC COM 278865100 579,643 4,366,426 SH   SOLE   4,366,426 0 0
FEDEX CORP COM 31428X106 657,423 3,024,999 SH   SOLE   3,024,999 0 0
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 411,344 16,879,104 SH   SOLE   16,879,104 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 113,475 3,639,349 SH   SOLE   3,639,349 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 68,079 2,119,515 SH   SOLE   2,119,515 0 0
LIBERTY GLOBAL PLC LILAC SHS CL A G5480U138 8,064 370,424 SH   SOLE   370,424 0 0
LIBERTY GLOBAL PLC LILAC SHS CL C G5480U153 13,618 636,044 SH   SOLE   636,044 0 0
MICROSOFT CORP COM 594918104 4,411,520 64,000,000 SH   SOLE   64,000,000 0 0
UNITED PARCEL SERVICE INC CL B 911312106 500,456 4,525,329 SH   SOLE   4,525,329 0 0
WAL-MART STORES INC COM 931142103 878,115 11,603,000 SH   SOLE   11,603,000 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 272,158 3,475,398 SH   SOLE   3,475,398 0 0
WASTE MGMT INC DEL COM 94106L109 1,366,780 18,633,672 SH   SOLE   18,633,672 0 0