Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NSRGY	Nestle SA-Spons ADR	14,688,902	$1.138B	10.5%	$65.99	—	COM	641069406
BRK/A	Berkshire Hathaway Inc Cl A	5,072	$963M	8.9%	$165329.39	+14.8%	COM	084670108
PM	Philip Morris International In	10,224,197	$862M	8.0%	$49.56	-2.7%	COM	718172109
WFC	Wells Fargo	14,645,771	$770M	7.1%	$27.64	+31.3%	COM	949746101
—	Compagnie Financiere Richemont	7,031,752	$738M	6.8%	$100.12	—	COM	h25662182
—	Mastercard Inc Cl A	9,889,730	$727M	6.7%	$125.30	—	COM	57636q104
—	Heineken Holding NV	10,367,125	$682M	6.3%	$56.54	—	COM	n39338194
—	SABMiller PLC	11,489,132	$666M	6.1%	$48.17	—	COM	g77395104
—	Pernod Ricard	4,949,160	$594M	5.5%	$111.93	—	COM	f72027109
—	Anheuser-Busch InBev ADR	5,037,319	$579M	5.3%	$91.31	—	COM	03524a108
—	Unilever NV ADR	12,911,330	$565M	5.2%	$39.53	—	COM	904784709
BRK/B	Berkshire Hathaway Inc Cl B	2,432,159	$308M	2.8%	$110.64	+14.4%	COM	084670702
—	Altria Group Inc	7,133,191	$299M	2.8%	$35.00	—	COM	02209s103
—	British American Tobacco PLC	4,764,040	$283M	2.6%	$51.25	—	COM	g1510j102
—	Diageo PLC	8,470,105	$270M	2.5%	$28.91	—	COM	g42089113
BF/A	Brown-Forman Corp Cl A	2,847,496	$263M	2.4%	$17.20	+28.2%	COM	115637100
MLM	Martin Marietta Materials	1,972,412	$260M	2.4%	$92.95	+22.9%	COM	573284106
—	Comcast Corp Special Cl A	4,729,744	$252M	2.3%	$39.71	—	COM	20030n200
—	Scripps Networks Interactive C	1,279,458	$104M	1.0%	$66.76	—	COM	811065101
—	JC Decaux SA ACT	1,461,150	$54.52M	0.5%	$27.49	—	COM	f5333n100
—	Diageo PLC Sponsored ADR	423,984	$53.96M	0.5%	$115.21	—	COM	25243q205
GHC	Graham Holdings Co	68,283	$49.03M	0.5%	$339.79	+8.3%	COM	384637104
BF/B	Brown-Forman Corp Cl B	432,258	$40.71M	0.4%	$22.79	+31.4%	COM	115637209
—	The Swatch Group AG-BR	61,816	$37.33M	0.3%	$552.61	—	COM	h83949141
—	Visa Inc Cl A	112,151	$23.63M	0.2%	$184.49	—	COM	92826c839
—	Exxon Mobil Corp	154,166	$15.52M	0.1%	$90.35	—	COM	30231g102
—	Crane	169,852	$12.63M	0.1%	$59.92	—	COM	224399105
AXP	American Express	129,770	$12.31M	0.1%	$60.27	+26.8%	COM	025816109
MKL	Markel Corp	18,502	$12.13M	0.1%	$523.59	+20.3%	COM	570535104
—	Swedish Match AB	339,362	$11.78M	0.1%	$35.28	—	COM	w92277115
MLKN	Herman Miller Inc	346,886	$10.49M	0.1%	$19.62	+19.6%	COM	600544100
FMX	Fomento Economico Mex Sp ADR	110,560	$10.35M	0.1%	$102.70	—	COM	344419106
PG	Procter & Gamble	121,787	$9.571M	0.1%	$55.04	+5.9%	COM	742718109
KO	Coca-Cola	208,377	$8.827M	0.1%	$27.70	+1.5%	COM	191216100
DOV	Dover Corp	78,630	$7.151M	0.1%	$39.99	+42.0%	COM	260003108
—	Berner Gruppen	116,554	$6.648M	0.1%	$52.40	—	COM	r10549104
—	Royal Dutch Shell PLC ADR A	78,605	$6.475M	0.1%	$64.41	—	COM	780259206
—	Goldman Sachs Group Inc	38,125	$6.384M	0.1%	$151.25	—	COM	38141g104
CVX	Chevron Corp	47,777	$6.237M	0.1%	$71.30	+6.5%	COM	166764100
HRL	Hormel Foods Corp	110,731	$5.465M	0.1%	$15.25	+21.0%	COM	440452100
ABBV	AbbVie Inc	86,777	$4.898M	0.0%	$26.55	+24.2%	COM	00287Y109
PEP	Pepsico Inc	44,239	$3.952M	0.0%	$56.00	+8.8%	COM	713448108
—	Wells Fargo WTS Exp 10/28/18	177,750	$3.836M	0.0%	$13.67	—	WTS	949746119
—	Heineken NV	52,191	$3.747M	0.0%	$63.62	—	COM	n39427211
ABT	Abbott Labs	86,503	$3.538M	0.0%	$28.85	+9.2%	COM	002824100
—	Nestle SA-REG	41,310	$3.2M	0.0%	$65.77	—	COM	h57312649
MKC	McCormick Inc	42,580	$3.048M	0.0%	$28.19	+1.3%	COM	579780206
—	BIC	21,450	$2.934M	0.0%	$101.97	—	COM	f10080103
—	JP Morgan Chase & Co WTS Exp 1	150,750	$2.914M	0.0%	$15.60	—	WTS	46634e114
DANOY	Danone ADR	190,810	$2.834M	0.0%	$14.99	—	COM	23636T100
—	Precision Castparts Corp	11,175	$2.821M	0.0%	$226.16	—	COM	740189105
DE	Deere & Co	28,415	$2.573M	0.0%	$66.85	+10.9%	COM	244199105
MSFT	Microsoft Corp	61,244	$2.554M	0.0%	$26.70	+27.2%	COM	594918104
—	M&T Bank Corp Wts Exp 12/23/1	50,000	$2.509M	0.0%	$42.75	—	WTS	55261f112
—	Reckitt Benckiser Group PLC	26,860	$2.342M	0.0%	$74.65	—	COM	g74079107
—	Du Pont E I De Nemours	33,335	$2.181M	0.0%	$52.65	—	COM	263534109
—	Pargesa Holding AG - B	23,950	$2.151M	0.0%	$66.63	—	COM	h60477207
—	Lindt & Spruengli AG - Reg	34	$2.1M	0.0%	$43512.82	—	COM	h49983176
IBM	I B M	11,555	$2.095M	0.0%	$118.74	-5.4%	COM	459200101
—	Praxair Inc	15,750	$2.092M	0.0%	$115.15	—	COM	74005p104
—	Comcast Corp New Cl A	35,949	$1.93M	0.0%	$41.76	—	COM	20030n101
PNC	PNC Bank Corp	21,544	$1.918M	0.0%	$47.34	+26.3%	COM	693475105
HEINY	Heineken NV Spons ADR	53,012	$1.903M	0.0%	$32.39	—	COM	423012301
—	Eaton Vance Sr Income TR SF	272,234	$1.854M	0.0%	$7.52	—	SH BEN INT	27826s103
CFRUY	CIE Financiere Richemont-Unsp	172,625	$1.811M	0.0%	$8.92	—	COM	204319107
—	SABMiller PLC Sponsored ADR	30,285	$1.754M	0.0%	$48.28	—	COM	78572m105
—	Anheuser-Busch InBev	15,000	$1.723M	0.0%	$88.87	—	COM	b6399c107
BTI	British Amern Tob PLC ADR	13,799	$1.643M	0.0%	$105.29	—	COM	110448107
—	BB&T Corp	41,336	$1.63M	0.0%	$33.89	—	COM	054937107
WMT	Wal Mart Stores Inc	21,009	$1.577M	0.0%	$19.98	+2.7%	COM	931142103
—	Unilever NV	35,500	$1.553M	0.0%	$39.65	—	COM	n8981f271
—	Pernod-Ricard SA-Unspon ADR	63,025	$1.514M	0.0%	$22.44	—	COM	714264207
—	A P Moller-Maersk A/S	589	$1.386M	0.0%	$3208.82	—	COM	k0514g135
—	Loreal SA	7,120	$1.227M	0.0%	$170.96	—	COM	f58149133
—	Lamar Advertising Cl A	21,785	$1.155M	0.0%	$43.88	—	COM	512815101
—	NHST Media Group	19,772	$1.128M	0.0%	$65.50	—	COM	r4700l117
—	Swiss Helvetia FD Inc	71,097	$1.036M	0.0%	$12.89	—	COM	870875101
FULT	Fulton Finl Corp	80,298	$995K	0.0%	$7.19	+10.8%	COM	360271100
—	Conocophillips	10,373	$889K	0.0%	$60.52	—	COM	20825c104
—	Chicago Bridge & Iron Co NV	12,775	$871K	0.0%	$67.80	—	COM	167250109
CSL	Carlisle Inc	9,100	$788K	0.0%	$55.89	+28.5%	COM	142339100
BAC	Bank Amer Corp	49,500	$761K	0.0%	$10.03	+22.1%	COM	060505104
—	Costco Whsl Corp	5,655	$651K	0.0%	$110.68	—	COM	22160k105
—	Pioneer Nat Res	2,700	$620K	0.0%	$144.67	—	COM	723787107
—	Google Inc Cl A	1,026	$600K	0.0%	$880.01	—	COM	38259p508
—	Google Inc Cl C	1,011	$582K	0.0%	$575.67	—	COM	38259p706
DIS	Disney Walt Productions	6,600	$566K	0.0%	$57.16	+28.5%	COM	254687106
PGR	Progressive Corp Ohio	20,133	$511K	0.0%	$17.34	+2.5%	COM	743315103
BP	BP PLC ADR	7,923	$418K	0.0%	$41.74	—	COM	055622104
—	Oracle Corp	10,000	$405K	0.0%	$30.70	—	COM	68389x105
MCD	McDonalds Corp	3,670	$370K	0.0%	$71.80	+4.2%	COM	580135101
GD	General Dynamics Corp	3,000	$350K	0.0%	$56.44	+56.9%	COM	369550108
SLB	Schlumberger LTD	2,825	$333K	0.0%	$52.90	+41.5%	COM	806857108
AIG	American Intl Group Inc	6,000	$327K	0.0%	$32.51	+24.3%	COM	026874784
—	Schibsted A/S	6,150	$320K	0.0%	$42.93	—	COM	r75677105
HTLD	Heartland Express Inc	14,499	$309K	0.0%	$13.77	+57.1%	COM	422347104
—	General Electric	10,663	$280K	0.0%	$23.19	—	COM	369604103
NTRS	Northern Trust Corp	4,334	$278K	0.0%	$40.35	+12.7%	COM	665859104
UNP	Union Pac Corp	2,730	$272K	0.0%	$74.77	0.0%	COM	907818108
TGBAX	Templeton Global Bond FD	19,684	$262K	0.0%	$13.05	—	SH BEN INT	880208400
—	Groupe Danone	3,500	$260K	0.0%	$74.93	—	COM	f12033134
MAT	Mattel Inc	6,625	$258K	0.0%	$44.76	-13.3%	COM	577081102
MRK	Merck Inc	4,386	$254K	0.0%	$30.02	+26.5%	COM	58933Y105
—	Nielsen NV	4,600	$223K	0.0%	$44.57	—	COM	n63218106
PSX	Phillips 66	2,720	$219K	0.0%	$43.41	+24.8%	COM	718546104
—	Monsanto	1,700	$212K	0.0%	$124.71	—	COM	61166w101
—	Cir SPA	125,000	$188K	0.0%	$1.13	—	COM	t28980125
—	Susquehanna Bancshrs Inc	16,965	$179K	0.0%	$12.85	—	COM	869099101
—	Hanjaya Mandala Sampoerna	30,000	$170K	0.0%	$5.48	—	COM	y7121z146
—	Centerstate BKS FLA Inc	11,004	$123K	0.0%	$9.72	—	COM	15201p109
PHIYX	Pimco High Yield Fun-Instl	11,116	$109K	0.0%	$9.45	—	SH BEN INT	693390841
—	PZ Cussons PLC	15,000	$89,000	0.0%	$5.27	—	COM	g6850s109
—	LT Group Inc	75,000	$25,000	0.0%	$0.33	—	COM	y5342m100