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
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
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107 21,270 3,060,500 SH   SOLE   3,060,500 0 0
AUTONATION INC COM 05329W102 92,240 1,898,717 SH   SOLE   1,898,717 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 9,998,835 53,569,972 SH   SOLE   53,569,972 0 0
CANADIAN NATL RY CO COM 136375102 1,400,122 17,126,874 SH   SOLE   17,126,874 0 0
CATERPILLAR INC DEL COM 149123101 1,527,760 11,260,857 SH   SOLE   11,260,857 0 0
COCA COLA FEMSA S A B DE C V SPON ADR REP L 191241108 350,697 6,214,719 SH   SOLE   6,214,719 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 574,993 5,332,900 SH   SOLE   5,332,900 0 0
ECOLAB INC COM 278865100 612,741 4,366,426 SH   SOLE   4,366,426 0 0
FEDEX CORP COM 31428X106 686,856 3,024,999 SH   SOLE   3,024,999 0 0
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 319,859 16,879,104 SH   SOLE   16,879,104 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 58,371 2,119,515 SH   SOLE   2,119,515 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 96,843 3,639,349 SH   SOLE   3,639,349 0 0
LIBERTY LATIN AMERICA LTD COM CL A G9001E102 7,083 370,424 SH   SOLE   370,424 0 0
LIBERTY LATIN AMERICA LTD COM CL C G9001E128 12,327 636,044 SH   SOLE   636,044 0 0
MICROSOFT CORP COM 594918104 3,155,520 32,000,000 SH   SOLE   32,000,000 0 0
UNITED PARCEL SERVICE INC CL B 911312106 480,726 4,525,329 SH   SOLE   4,525,329 0 0
WALMART INC COM 931142103 993,797 11,603,000 SH   SOLE   11,603,000 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 208,576 3,475,398 SH   SOLE   3,475,398 0 0
WASTE MGMT INC DEL COM 94106L109 1,515,663 18,633,672 SH   SOLE   18,633,672 0 0