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 19,128 3,060,500 SH   SOLE   3,060,500 0 0
AUTONATION INC COM 05329W102 78,892 1,898,717 SH   SOLE   1,898,717 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 13,291,729 62,078,974 SH   SOLE   62,078,974 0 0
CANADIAN NATL RY CO COM 136375102 1,537,993 17,126,874 SH   SOLE   17,126,874 0 0
CATERPILLAR INC DEL COM 149123101 1,717,168 11,260,857 SH   SOLE   11,260,857 0 0
COCA COLA FEMSA S A B DE C V SPON ADR REP L 191241108 380,589 6,214,719 SH   SOLE   6,214,719 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 593,712 5,332,900 SH   SOLE   5,332,900 0 0
ECOLAB INC COM 278865100 684,568 4,366,426 SH   SOLE   4,366,426 0 0
FEDEX CORP COM 31428X106 728,390 3,024,999 SH   SOLE   3,024,999 0 0
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 299,435 16,879,104 SH   SOLE   16,879,104 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 61,318 2,119,515 SH   SOLE   2,119,515 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 102,484 3,639,349 SH   SOLE   3,639,349 0 0
LIBERTY LATIN AMERICA LTD COM CL A G9001E102 7,720 370,424 SH   SOLE   370,424 0 0
LIBERTY LATIN AMERICA LTD COM CL C G9001E128 13,122 636,044 SH   SOLE   636,044 0 0
MICROSOFT CORP COM 594918104 2,744,880 24,000,000 SH   SOLE   24,000,000 0 0
UNITED PARCEL SERVICE INC CL B 911312106 528,332 4,525,329 SH   SOLE   4,525,329 0 0
WALMART INC COM 931142103 1,089,638 11,603,000 SH   SOLE   11,603,000 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 253,357 3,475,398 SH   SOLE   3,475,398 0 0
WASTE MGMT INC DEL COM 94106L109 1,683,739 18,633,672 SH   SOLE   18,633,672 0 0