Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NSRGY	Nestle SA-Spons ADR	13,192,876	$864M	10.1%	$65.48	—	COM	641069406
BRK/A	Berkshire Hathaway Inc Cl A	4,891	$825M	9.6%	$165023.42	0.0%	COM	084670108
PM	Philip Morris International In	9,191,748	$796M	9.3%	$49.85	0.0%	COM	718172109
—	Compagnie Financiere Richemont	6,797,657	$600M	7.0%	$88.31	—	COM	h25662158
—	Mastercard Inc Cl A	979,977	$563M	6.6%	$574.50	—	COM	57636q104
WFC	Wells Fargo	13,532,418	$558M	6.5%	$27.36	0.0%	COM	949746101
—	Heineken Holding NV	9,723,445	$545M	6.4%	$56.03	—	COM	n39338194
—	SABMiller PLC	10,083,853	$482M	5.6%	$47.81	—	COM	g77395104
—	Pernod Ricard	4,146,182	$459M	5.4%	$110.73	—	COM	f72027109
—	Anheuser-Busch InBev ADR	4,573,748	$413M	4.8%	$90.26	—	COM	03524a108
—	Unilever NV ADR	10,066,606	$396M	4.6%	$39.31	—	COM	904784709
—	Altria Group Inc	7,554,679	$264M	3.1%	$34.99	—	COM	02209s103
BRK/B	Berkshire Hathaway Inc Cl B	2,232,596	$250M	2.9%	$110.02	0.0%	COM	084670702
—	British American Tobacco PLC	4,722,175	$241M	2.8%	$51.07	—	COM	g1510j102
—	Diageo PLC	7,487,269	$213M	2.5%	$28.51	—	COM	g42089113
BF/A	Brown-Forman Corp Cl A	2,826,950	$191M	2.2%	$17.20	0.0%	COM	115637100
—	Comcast Corp Special Cl A	4,697,779	$186M	2.2%	$39.67	—	COM	20030n200
MLM	Martin Marietta Materials	1,737,505	$171M	2.0%	$93.00	0.0%	COM	573284106
—	Scripps Networks Interactive C	1,401,230	$93.55M	1.1%	$66.76	—	COM	811065101
—	Diageo PLC Sponsored ADR	411,642	$47.32M	0.6%	$114.95	—	COM	25243q205
—	Washington Post Cl B	86,602	$41.9M	0.5%	$483.78	—	COM	939640108
—	JC Decaux SA ACT	1,445,810	$39.38M	0.5%	$27.24	—	COM	f5333n100
—	The Swatch Group AG-BR	57,048	$31.17M	0.4%	$546.42	—	COM	h83949141
HAS	Hasbro Inc	657,633	$29.48M	0.3%	$30.22	0.0%	COM	418056107
BF/B	Brown-Forman Corp Cl B	350,679	$23.69M	0.3%	$22.68	0.0%	COM	115637209
—	Exxon Mobil Corp	227,061	$20.52M	0.2%	$90.35	—	COM	30231g102
—	Visa Inc Cl A	108,933	$19.91M	0.2%	$182.75	—	COM	92826c839
—	Swedish Match AB	376,579	$13.29M	0.2%	$35.28	—	COM	w92277115
FMX	Fomento Economico Mex Sp ADR	110,595	$11.41M	0.1%	$103.19	—	COM	344419106
PG	Procter & Gamble	142,105	$10.94M	0.1%	$55.00	0.0%	COM	742718109
—	Crane	180,652	$10.82M	0.1%	$59.92	—	COM	224399105
MKL	Markel Corp	19,956	$10.52M	0.1%	$523.59	0.0%	COM	570535104
MLKN	Herman Miller Inc	379,870	$10.28M	0.1%	$19.62	0.0%	COM	600544100
AXP	American Express	116,165	$8.684M	0.1%	$59.62	0.0%	COM	025816109
—	Goldman Sachs Group Inc	57,225	$8.655M	0.1%	$151.25	—	COM	38141g104
CVX	Chevron Corp	65,471	$7.748M	0.1%	$71.30	0.0%	COM	166764100
KO	Coca-Cola	181,303	$7.272M	0.1%	$27.85	0.0%	COM	191216100
DOV	Dover Corp	85,045	$6.605M	0.1%	$39.99	0.0%	COM	260003108
—	Berner Gruppen	116,554	$6.107M	0.1%	$52.40	—	COM	r10549104
PEP	Pepsico Inc	60,852	$4.977M	0.1%	$56.00	0.0%	COM	713448108
HRL	Hormel Foods Corp	125,784	$4.853M	0.1%	$15.25	0.0%	COM	440452100
—	Royal Dutch Shell PLC ADR A	74,810	$4.773M	0.1%	$63.80	—	COM	780259206
ABBV	AbbVie Inc	87,127	$3.602M	0.0%	$26.55	0.0%	COM	00287Y109
—	Heineken NV	54,588	$3.473M	0.0%	$63.62	—	COM	n39427211
—	Praxair Inc	29,675	$3.417M	0.0%	$115.15	—	COM	74005p104
MKC	McCormick Inc	48,430	$3.408M	0.0%	$28.19	0.0%	COM	579780206
DANOY	Danone ADR	208,050	$3.119M	0.0%	$14.99	—	COM	23636T100
IBM	I B M	16,231	$3.102M	0.0%	$118.94	0.0%	COM	459200101
ABT	Abbott Labs	86,303	$3.01M	0.0%	$28.85	0.0%	COM	002824100
—	Nestle SA-REG	40,000	$2.619M	0.0%	$65.47	—	COM	h57312649
—	Wells Fargo WTS Exp 10/28/18	177,750	$2.43M	0.0%	$13.67	—	WTS	949746119
—	JP Morgan Chase & Co WTS Exp 1	150,750	$2.352M	0.0%	$15.60	—	WTS	46634e114
—	Precision Castparts Corp	10,250	$2.317M	0.0%	$226.05	—	COM	740189105
PGR	Progressive Corp Ohio	89,811	$2.283M	0.0%	$17.04	0.0%	COM	743315103
—	BIC	22,750	$2.277M	0.0%	$100.09	—	COM	f10080103
—	Comcast Corp New Cl A	53,933	$2.252M	0.0%	$41.76	—	COM	20030n101
—	Du Pont E I De Nemours	42,825	$2.248M	0.0%	$52.49	—	COM	263534109
MSFT	Microsoft Corp	64,267	$2.22M	0.0%	$26.70	0.0%	COM	594918104
—	Eaton Vance Sr Income TR SF	277,308	$2.085M	0.0%	$7.52	—	SH BEN INT	27826s103
PNC	PNC Bank Corp	26,551	$1.936M	0.0%	$47.34	0.0%	COM	693475105
—	Pargesa Holding AG - B	27,675	$1.844M	0.0%	$66.63	—	COM	h60477207
—	Lindt & Spruengli AG - Reg	39	$1.697M	0.0%	$43512.82	—	COM	h49983176
WMT	Wal Mart Stores Inc	22,684	$1.69M	0.0%	$19.98	0.0%	COM	931142103
CFRUY	CIE Financiere Richemont-Unsp	159,150	$1.405M	0.0%	$8.83	—	COM	204319107
—	BB&T Corp	41,281	$1.399M	0.0%	$33.89	—	COM	054937107
HEINY	Heineken NV Spons ADR	43,346	$1.379M	0.0%	$31.81	—	COM	423012301
—	Anheuser-Busch InBev	15,000	$1.333M	0.0%	$88.87	—	COM	b6399c107
—	NHST Media Group	19,772	$1.295M	0.0%	$65.50	—	COM	r4700l117
—	SABMiller PLC Sponsored ADR	25,450	$1.217M	0.0%	$47.82	—	COM	78572m105
—	Unilever NV	30,000	$1.18M	0.0%	$39.33	—	COM	n8981f271
—	General Electric	50,501	$1.171M	0.0%	$23.19	—	COM	369604103
—	M&T Bank Corp Wts Exp 12/23/1	30,000	$1.14M	0.0%	$38.00	—	WTS	55261f112
—	Pernod-Ricard SA-Unspon ADR	48,100	$1.065M	0.0%	$22.14	—	COM	714264207
BP	BP PLC ADR	25,301	$1.056M	0.0%	$41.74	—	COM	055622104
DE	Deere & Co	12,775	$1.038M	0.0%	$68.04	0.0%	COM	244199105
—	Conocophillips	16,044	$971K	0.0%	$60.52	—	COM	20825c104
—	A P Moller-Maersk A/S	140	$943K	0.0%	$6735.71	—	COM	k0514g135
FULT	Fulton Finl Corp	81,113	$931K	0.0%	$7.19	0.0%	COM	360271100
—	Lamar Advertising Cl A	21,025	$912K	0.0%	$43.38	—	COM	512815101
—	Google Inc Cl A	897	$790K	0.0%	$880.71	—	COM	38259p508
—	Reckitt Benckiser Group PLC	11,200	$790K	0.0%	$70.54	—	COM	g74079107
BTI	British Amern Tob PLC ADR	6,600	$679K	0.0%	$102.88	—	COM	110448107
CSL	Carlisle Inc	10,384	$647K	0.0%	$55.89	0.0%	COM	142339100
—	Costco Whsl Corp	5,855	$647K	0.0%	$110.50	—	COM	22160k105
BAC	Bank Amer Corp	49,500	$637K	0.0%	$10.03	0.0%	COM	060505104
—	Swiss Helvetia FD Inc	51,025	$629K	0.0%	$12.33	—	COM	870875101
MAT	Mattel Inc	11,625	$527K	0.0%	$44.76	0.0%	COM	577081102
MCD	McDonalds Corp	5,185	$513K	0.0%	$71.80	0.0%	COM	580135101
—	Leucadia Natl Corp	19,100	$501K	0.0%	$26.23	—	COM	527288104
DIS	Disney Walt Productions	7,100	$448K	0.0%	$56.11	0.0%	COM	254687106
—	Loreal SA	2,665	$437K	0.0%	$163.98	—	COM	f58149133
—	Pioneer Nat Res	3,000	$434K	0.0%	$144.67	—	COM	723787107
—	Oracle Corp	13,125	$403K	0.0%	$30.70	—	COM	68389x105
BA	Boeing	3,257	$334K	0.0%	$80.37	0.0%	COM	097023105
—	Roche Holding AG	1,325	$329K	0.0%	$248.30	—	COM	001203204
—	Groupe Danone	3,750	$281K	0.0%	$74.93	—	COM	f12033134
—	SPDR Trust Series 1	1,700	$273K	0.0%	$160.59	—	COM	78462f103
AIG	American Intl Group Inc	6,000	$268K	0.0%	$32.51	0.0%	COM	026874784
MRK	Merck Inc	5,736	$266K	0.0%	$30.02	0.0%	COM	58933Y105
—	Schibsted A/S	6,150	$264K	0.0%	$42.93	—	COM	r75677105
DHR	Danaher Corp	4,151	$263K	0.0%	$25.01	0.0%	COM	235851102
NTRS	Northern Trust Corp	4,500	$261K	0.0%	$40.35	0.0%	COM	665859104
GD	General Dynamics Corp	3,225	$253K	0.0%	$56.44	0.0%	COM	369550108
SLB	Schlumberger LTD	3,425	$245K	0.0%	$52.90	0.0%	COM	806857108
—	Syngenta AG	600	$234K	0.0%	$390.00	—	COM	h84140112
—	Imperial Tobacco Group PLC	6,750	$233K	0.0%	$34.52	—	COM	g4721w102
—	Susquehanna Bancshrs Inc	17,429	$224K	0.0%	$12.85	—	COM	869099101
—	Dominion Res Inc	3,632	$206K	0.0%	$56.72	—	COM	25746u109
HTLD	Heartland Express Inc	14,699	$204K	0.0%	$13.77	0.0%	COM	422347104
—	Cir SPA	125,000	$141K	0.0%	$1.13	—	COM	t28980125
PTTRX	Pimco Total Return Fund-Inst	10,397	$112K	0.0%	$10.77	—	SH BEN INT	693390700
PHIYX	Pimco High Yield Fun-Instl	11,116	$105K	0.0%	$9.45	—	SH BEN INT	693390841
—	PZ Cussons PLC	15,000	$79,000	0.0%	$5.27	—	COM	g6850s109
—	Lonrho PLC	500,000	$75,000	0.0%	$0.15	—	COM	g56357109
—	Wal-Mart De Mexico S A	10,000	$28,000	0.0%	$2.80	—	COM	p98180105