Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NSRGY	Nestle SA-Spons ADR	14,576,827	$1.098B	10.6%	$65.99	—	COM	641069406
BRK/A	Berkshire Hathaway Inc Cl A	5,109	$957M	9.2%	$165329.39	+6.2%	COM	084670108
PM	Philip Morris International In	10,191,037	$834M	8.1%	$49.56	-9.7%	COM	718172109
—	Mastercard Inc Cl A	9,827,537	$734M	7.1%	$125.30	—	COM	57636q104
WFC	Wells Fargo	14,689,097	$731M	7.1%	$27.64	+20.9%	COM	949746101
—	Heineken Holding NV	10,406,630	$672M	6.5%	$56.54	—	COM	n39338194
—	Compagnie Financiere Richemont	7,027,196	$671M	6.5%	$100.12	—	COM	h25662182
—	SABMiller PLC	11,499,390	$574M	5.5%	$48.17	—	COM	g77395104
—	Pernod Ricard	4,917,307	$573M	5.5%	$111.93	—	COM	f72027109
—	Anheuser-Busch InBev ADR	5,019,738	$529M	5.1%	$91.31	—	COM	03524a108
—	Unilever NV ADR	12,654,600	$520M	5.0%	$39.44	—	COM	904784709
BRK/B	Berkshire Hathaway Inc Cl B	2,405,629	$301M	2.9%	$110.46	+5.8%	COM	084670702
—	British American Tobacco PLC	4,831,214	$269M	2.6%	$51.25	—	COM	g1510j102
—	Altria Group Inc	7,148,952	$268M	2.6%	$35.00	—	COM	02209s103
—	Diageo PLC	8,279,868	$257M	2.5%	$28.84	—	COM	g42089113
BF/A	Brown-Forman Corp Cl A	2,876,559	$256M	2.5%	$17.20	+14.6%	COM	115637100
MLM	Martin Marietta Materials	1,992,602	$256M	2.5%	$92.95	+12.2%	COM	573284106
—	Comcast Corp Special Cl A	4,769,644	$233M	2.2%	$39.71	—	COM	20030n200
—	Scripps Networks Interactive C	1,381,079	$105M	1.0%	$66.76	—	COM	811065101
—	JC Decaux SA ACT	1,468,195	$64.34M	0.6%	$27.49	—	COM	f5333n100
—	Diageo PLC Sponsored ADR	425,185	$52.97M	0.5%	$115.21	—	COM	25243q205
GHC	Graham Holdings Co	73,068	$51.42M	0.5%	$339.79	+5.7%	COM	384637104
BF/B	Brown-Forman Corp Cl B	433,949	$38.92M	0.4%	$22.79	+17.4%	COM	115637209
—	The Swatch Group AG-BR	59,811	$37.51M	0.4%	$550.89	—	COM	h83949141
—	Visa Inc Cl A	110,677	$23.89M	0.2%	$184.14	—	COM	92826c839
—	Exxon Mobil Corp	180,151	$17.6M	0.2%	$90.35	—	COM	30231g102
—	Crane	170,552	$12.13M	0.1%	$59.92	—	COM	224399105
AXP	American Express	129,435	$11.65M	0.1%	$60.27	+25.3%	COM	025816109
MLKN	Herman Miller Inc	355,670	$11.43M	0.1%	$19.62	+10.5%	COM	600544100
MKL	Markel Corp	18,927	$11.28M	0.1%	$523.59	+8.8%	COM	570535104
—	Swedish Match AB	341,362	$11.14M	0.1%	$35.28	—	COM	w92277115
FMX	Fomento Economico Mex Sp ADR	110,800	$10.33M	0.1%	$102.70	—	COM	344419106
PG	Procter & Gamble	127,297	$10.26M	0.1%	$55.04	+2.7%	COM	742718109
—	Goldman Sachs Group Inc	55,875	$9.155M	0.1%	$151.25	—	COM	38141g104
KO	Coca-Cola	207,713	$8.03M	0.1%	$27.70	-4.1%	COM	191216100
—	Berner Gruppen	116,554	$6.813M	0.1%	$52.40	—	COM	r10549104
CVX	Chevron Corp	54,107	$6.434M	0.1%	$71.30	-1.3%	COM	166764100
DOV	Dover Corp	78,630	$6.428M	0.1%	$39.99	+25.8%	COM	260003108
—	Royal Dutch Shell PLC ADR A	78,980	$5.77M	0.1%	$64.41	—	COM	780259206
HRL	Hormel Foods Corp	114,763	$5.654M	0.1%	$15.25	+14.9%	COM	440452100
ABBV	AbbVie Inc	86,777	$4.46M	0.0%	$26.55	+18.6%	COM	00287Y109
PEP	Pepsico Inc	45,098	$3.766M	0.0%	$56.00	+1.5%	COM	713448108
—	Heineken NV	52,191	$3.634M	0.0%	$63.62	—	COM	n39427211
—	Praxair Inc	27,150	$3.556M	0.0%	$115.15	—	COM	74005p104
ABT	Abbott Labs	86,503	$3.331M	0.0%	$28.85	+6.5%	COM	002824100
—	Wells Fargo WTS Exp 10/28/18	177,750	$3.313M	0.0%	$13.67	—	WTS	949746119
MKC	McCormick Inc	45,080	$3.234M	0.0%	$28.19	-5.0%	COM	579780206
—	JP Morgan Chase & Co WTS Exp 1	150,750	$3.045M	0.0%	$15.60	—	WTS	46634e114
—	Nestle SA-REG	40,310	$3.037M	0.0%	$65.47	—	COM	h57312649
—	Precision Castparts Corp	11,325	$2.863M	0.0%	$226.16	—	COM	740189105
DANOY	Danone ADR	195,400	$2.765M	0.0%	$14.99	—	COM	23636T100
—	BIC	20,725	$2.724M	0.0%	$100.75	—	COM	f10080103
IBM	I B M	13,615	$2.621M	0.0%	$118.74	-8.0%	COM	459200101
DE	Deere & Co	28,415	$2.58M	0.0%	$66.85	+4.9%	COM	244199105
MSFT	Microsoft Corp	61,244	$2.51M	0.0%	$26.70	+17.1%	COM	594918104
—	Du Pont E I De Nemours	36,291	$2.435M	0.0%	$52.65	—	COM	263534109
PNC	PNC Bank Corp	25,644	$2.231M	0.0%	$47.34	+20.0%	COM	693475105
—	Pargesa Holding AG - B	23,950	$2.074M	0.0%	$66.63	—	COM	h60477207
—	Reckitt Benckiser Group PLC	25,435	$2.072M	0.0%	$73.95	—	COM	g74079107
—	Lindt & Spruengli AG - Reg	34	$2.003M	0.0%	$43512.82	—	COM	h49983176
—	Eaton Vance Sr Income TR SF	270,514	$1.867M	0.0%	$7.52	—	SH BEN INT	27826s103
HEINY	Heineken NV Spons ADR	52,062	$1.813M	0.0%	$32.32	—	COM	423012301
—	Comcast Corp New Cl A	36,166	$1.81M	0.0%	$41.76	—	COM	20030n101
—	BB&T Corp	41,077	$1.65M	0.0%	$33.89	—	COM	054937107
CFRUY	CIE Financiere Richemont-Unsp	169,275	$1.617M	0.0%	$8.89	—	COM	204319107
WMT	Wal Mart Stores Inc	21,009	$1.606M	0.0%	$19.98	-0.4%	COM	931142103
—	Anheuser-Busch InBev	15,000	$1.573M	0.0%	$88.87	—	COM	b6399c107
—	M&T Bank Corp Wts Exp 12/23/1	32,500	$1.554M	0.0%	$38.76	—	WTS	55261f112
BTI	British Amern Tob PLC ADR	13,699	$1.526M	0.0%	$105.29	—	COM	110448107
—	SABMiller PLC Sponsored ADR	29,935	$1.495M	0.0%	$48.17	—	COM	78572m105
—	Pernod-Ricard SA-Unspon ADR	62,125	$1.447M	0.0%	$22.42	—	COM	714264207
—	Unilever NV	34,250	$1.408M	0.0%	$39.50	—	COM	n8981f271
—	A P Moller-Maersk A/S	115	$1.327M	0.0%	$6735.71	—	COM	k0514g135
—	NHST Media Group	19,772	$1.321M	0.0%	$65.50	—	COM	r4700l117
—	Knowles Corp	38,564	$1.217M	0.0%	$31.56	—	COM	49926d109
—	Google Inc Cl A	1,016	$1.132M	0.0%	$880.01	—	COM	38259p508
—	Chicago Bridge & Iron Co NV	12,875	$1.122M	0.0%	$67.80	—	COM	167250109
—	Lamar Advertising Cl A	21,110	$1.077M	0.0%	$43.59	—	COM	512815101
FULT	Fulton Finl Corp	80,298	$1.01M	0.0%	$7.19	+13.5%	COM	360271100
—	Swiss Helvetia FD Inc	67,543	$971K	0.0%	$12.80	—	COM	870875101
—	Conocophillips	12,887	$907K	0.0%	$60.52	—	COM	20825c104
BAC	Bank Amer Corp	49,500	$851K	0.0%	$10.03	+32.2%	COM	060505104
—	Loreal SA	4,990	$823K	0.0%	$170.37	—	COM	f58149133
—	Costco Whsl Corp	6,855	$766K	0.0%	$110.68	—	COM	22160k105
CSL	Carlisle Inc	9,100	$722K	0.0%	$55.89	+19.9%	COM	142339100
BP	BP PLC ADR	13,950	$671K	0.0%	$41.74	—	COM	055622104
—	General Electric	22,759	$589K	0.0%	$23.19	—	COM	369604103
CL	Colgate Palmolive	8,900	$577K	0.0%	$47.90	0.0%	COM	194162103
—	Pioneer Nat Res	2,700	$505K	0.0%	$144.67	—	COM	723787107
DIS	Disney Walt Productions	6,200	$496K	0.0%	$56.11	+24.2%	COM	254687106
—	Oracle Corp	10,000	$409K	0.0%	$30.70	—	COM	68389x105
MCD	McDonalds Corp	3,960	$388K	0.0%	$71.80	-2.1%	COM	580135101
—	Schibsted A/S	6,150	$382K	0.0%	$42.93	—	COM	r75677105
HTLD	Heartland Express Inc	14,499	$329K	0.0%	$13.77	+51.8%	COM	422347104
GD	General Dynamics Corp	3,000	$327K	0.0%	$56.44	+41.9%	COM	369550108
SLB	Schlumberger LTD	3,100	$302K	0.0%	$52.90	+23.8%	COM	806857108
AIG	American Intl Group Inc	6,000	$300K	0.0%	$32.51	+16.5%	COM	026874784
PGR	Progressive Corp Ohio	11,800	$286K	0.0%	$17.04	+0.6%	COM	743315103
NTRS	Northern Trust Corp	4,334	$284K	0.0%	$40.35	+12.9%	COM	665859104
TGBAX	Templeton Global Bond FD	21,000	$274K	0.0%	$13.05	—	SH BEN INT	880208400
MAT	Mattel Inc	6,625	$266K	0.0%	$44.76	-11.3%	COM	577081102
MRK	Merck Inc	4,536	$258K	0.0%	$30.02	+19.1%	COM	58933Y105
—	Groupe Danone	3,500	$248K	0.0%	$74.93	—	COM	f12033134
PSX	Phillips 66	2,720	$210K	0.0%	$43.41	+14.8%	COM	718546104
—	Nielsen Holdings	4,600	$205K	0.0%	$44.57	—	COM	n63218106
—	Berner Gruppen PFD	3,501	$205K	0.0%	$58.55	—	PFD	r10549112
—	Susquehanna Bancshrs Inc	17,429	$198K	0.0%	$12.85	—	COM	869099101
—	Cir SPA	125,000	$189K	0.0%	$1.13	—	COM	t28980125
—	Hanjaya Mandala Sampoerna	30,000	$182K	0.0%	$5.48	—	COM	y7121z146
—	Centerstate BKS FLA Inc	11,004	$120K	0.0%	$9.72	—	COM	15201p109
PHIYX	Pimco High Yield Fun-Instl	11,116	$108K	0.0%	$9.45	—	SH BEN INT	693390841
—	PZ Cussons PLC	15,000	$88,000	0.0%	$5.27	—	COM	g6850s109