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 20,567 3,060,500 SH   SOLE   3,060,500 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 11,422,903 54,912,525 SH   SOLE   54,912,525 0 0
BEYOND MEAT INC COM 08862E109 14,348 96,542 SH   SOLE   96,542 0 0
CANADIAN NATL RY CO COM 136375102 1,539,021 17,126,874 SH   SOLE   17,126,874 0 0
CATERPILLAR INC DEL COM 149123101 1,422,359 11,260,857 SH   SOLE   11,260,857 0 0
COCA COLA FEMSA S A B DE C V SPONSORD ADR REP 191241108 376,736 6,214,719 SH   SOLE   6,214,719 0 0
CORNERSTONE BLDG BRANDS INC COM 21925D109 83 13,731 SH   SOLE   13,731 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 741,326 5,332,900 SH   SOLE   5,332,900 0 0
ECOLAB INC COM 278865100 864,727 4,366,426 SH   SOLE   4,366,426 0 0
FEDEX CORP COM 31428X106 440,349 3,024,999 SH   SOLE   3,024,999 0 0
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 165,078 16,879,104 SH   SOLE   16,879,104 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 52,458 2,119,515 SH   SOLE   2,119,515 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 86,580 3,639,349 SH   SOLE   3,639,349 0 0
LIBERTY LATIN AMERICA LTD COM CL A G9001E102 6,323 370,424 SH   SOLE   370,424 0 0
LIBERTY LATIN AMERICA LTD COM CL C G9001E128 10,873 636,044 SH   SOLE   636,044 0 0
UNITED PARCEL SERVICE INC CL B 911312106 542,225 4,525,329 SH   SOLE   4,525,329 0 0
WALMART INC COM 931142103 1,377,044 11,603,000 SH   SOLE   11,603,000 0 0
WASTE MGMT INC DEL COM 94106L109 2,142,872 18,633,672 SH   SOLE   18,633,672 0 0