Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NSRGY	Nestle SA-Spons ADR	15,842,688	$1.144B	10.1%	$66.55	—	COM	641069406
BRK/A	Berkshire Hathaway Inc Cl A	5,102	$1.045B	9.2%	$165329.39	+29.8%	COM	084670108
—	Mastercard Inc Cl A	10,032,175	$938M	8.2%	$125.30	—	COM	57636q104
PM	Philip Morris International In	10,428,329	$836M	7.3%	$49.47	-2.3%	COM	718172109
WFC	Wells Fargo	14,675,054	$825M	7.3%	$27.64	+49.7%	COM	949746101
—	Heineken Holding NV	10,903,597	$765M	6.7%	$56.93	—	COM	n39338194
—	Compagnie Financiere Richemont	8,378,806	$682M	6.0%	$97.78	—	COM	h25662182
—	Pernod Ricard	5,573,710	$643M	5.7%	$112.24	—	COM	f72027109
—	SABMiller PLC	12,110,171	$629M	5.5%	$48.32	—	COM	g77395104
—	Anheuser-Busch InBev ADR	5,205,103	$628M	5.5%	$91.53	—	COM	03524a108
—	Unilever NV ADR	14,334,418	$600M	5.3%	$39.56	—	COM	904784709
BRK/B	Berkshire Hathaway Inc Cl B	2,472,536	$337M	3.0%	$110.87	+28.6%	COM	084670702
—	Altria Group Inc	6,500,066	$318M	2.8%	$35.00	—	COM	02209s103
BF/A	Brown-Forman Corp Cl A	2,718,726	$303M	2.7%	$17.20	+43.5%	COM	115637100
MLM	Martin Marietta Materials	2,096,408	$297M	2.6%	$93.85	+43.0%	COM	573284106
—	Diageo PLC	9,276,448	$269M	2.4%	$28.85	—	COM	g42089113
—	British American Tobacco PLC	4,983,288	$268M	2.4%	$51.36	—	COM	g1510j102
—	Comcast Corp Special Cl A	4,164,417	$250M	2.2%	$39.71	—	COM	20030n200
—	JC Decaux SA ACT	2,870,395	$120M	1.1%	$32.03	—	COM	f5333n100
—	Scripps Networks Interactive C	1,265,716	$82.74M	0.7%	$66.79	—	COM	811065101
—	Diageo PLC Sponsored ADR	464,807	$53.94M	0.5%	$114.93	—	COM	25243q205
BF/B	Brown-Forman Corp Cl B	517,433	$51.84M	0.5%	$24.18	+30.2%	COM	115637209
—	The Swatch Group AG-BR	105,010	$40.91M	0.4%	$493.36	—	COM	h83949141
—	Visa Inc Cl A	543,124	$36.47M	0.3%	$91.07	—	COM	92826c839
—	Exxon Mobil Corp	163,466	$13.6M	0.1%	$90.42	—	COM	30231g102
MKL	Markel Corp	16,128	$12.91M	0.1%	$523.59	+48.5%	COM	570535104
AXP	American Express	153,088	$11.9M	0.1%	$61.55	+10.6%	COM	025816109
FMX	Fomento Economico Mex Sp ADR	127,035	$11.32M	0.1%	$100.63	—	COM	344419106
—	Crane	165,742	$9.734M	0.1%	$59.92	—	COM	224399105
MLKN	Herman Miller Inc	319,577	$9.245M	0.1%	$19.62	+11.9%	COM	600544100
—	Swedish Match AB	314,674	$8.942M	0.1%	$35.28	—	COM	w92277115
KO	Coca-Cola	227,487	$8.924M	0.1%	$27.86	+4.2%	COM	191216100
PG	Procter & Gamble	103,172	$8.072M	0.1%	$55.04	+8.9%	COM	742718109
—	Precision Castparts Corp	31,465	$6.289M	0.1%	$227.33	—	COM	740189105
DANOY	Danone ADR	471,330	$6.091M	0.1%	$13.77	—	COM	23636T100
HRL	Hormel Foods Corp	105,769	$5.962M	0.1%	$15.25	+44.2%	COM	440452100
ABBV	AbbVie Inc	86,718	$5.827M	0.1%	$26.55	+59.4%	COM	00287Y109
DOV	Dover Corp	72,206	$5.067M	0.0%	$39.99	+23.3%	COM	260003108
—	JP Morgan Chase & Co WTS Exp 1	200,750	$4.969M	0.0%	$17.19	—	WTS	46634e114
—	Wells Fargo WTS Exp 10/28/18	202,750	$4.56M	0.0%	$14.76	—	WTS	949746119
ABT	Abbott Labs	85,400	$4.191M	0.0%	$28.85	+36.4%	COM	002824100
—	Royal Dutch Shell PLC ADR A	71,385	$4.07M	0.0%	$64.36	—	COM	780259206
CVX	Chevron Corp	41,973	$4.049M	0.0%	$71.30	-6.8%	COM	166764100
—	Heineken NV	49,991	$3.792M	0.0%	$63.62	—	COM	n39427211
PEP	Pepsico Inc	39,892	$3.723M	0.0%	$56.00	+23.8%	COM	713448108
—	M&T Bank Corp Wts Exp 12/23/1	67,600	$3.519M	0.0%	$45.09	—	WTS	55261f112
MKC	McCormick Inc	42,505	$3.441M	0.0%	$28.19	+12.8%	COM	579780206
—	BIC	20,000	$3.187M	0.0%	$101.97	—	COM	f10080103
—	Nestle SA-REG	41,310	$2.984M	0.0%	$67.33	—	COM	h57312649
—	Reckitt Benckiser Group PLC	30,917	$2.668M	0.0%	$76.19	—	COM	g74079107
MSFT	Microsoft Corp	54,450	$2.404M	0.0%	$26.70	+47.1%	COM	594918104
—	Du Pont E I De Nemours	37,048	$2.369M	0.0%	$54.50	—	COM	263534109
—	Outfront Media Inc	89,847	$2.268M	0.0%	$25.62	—	COM	69007j106
—	Goldman Sachs Group Inc	10,393	$2.17M	0.0%	$151.25	—	COM	38141g104
—	Lindt & Spruengli AG - Reg	33	$2.065M	0.0%	$43512.82	—	COM	h49983176
—	Comcast Corp New Cl A	31,926	$1.92M	0.0%	$41.76	—	COM	20030n101
HEINY	Heineken NV Spons ADR	50,337	$1.909M	0.0%	$32.53	—	COM	423012301
—	Anheuser-Busch InBev	15,000	$1.797M	0.0%	$88.87	—	COM	b6399c107
—	Eaton Vance Sr Income TR SF	279,947	$1.738M	0.0%	$7.52	—	SH BEN INT	27826s103
PNC	PNC Bank Corp	17,944	$1.716M	0.0%	$47.34	+43.0%	COM	693475105
—	BB&T Corp	42,408	$1.709M	0.0%	$33.89	—	COM	054937107
—	SABMiller PLC Sponsored ADR	30,600	$1.59M	0.0%	$48.61	—	COM	78572m105
CFRUY	CIE Financiere Richemont-Unsp	192,350	$1.565M	0.0%	$8.82	—	COM	204319107
—	Unilever NV	37,500	$1.561M	0.0%	$39.64	—	COM	n8981f271
IBM	I B M	9,524	$1.549M	0.0%	$118.74	-13.3%	COM	459200101
—	Pernod-Ricard SA-Unspon ADR	63,275	$1.461M	0.0%	$22.48	—	COM	714264207
—	Praxair Inc	11,575	$1.384M	0.0%	$115.15	—	COM	74005p104
WMT	Wal Mart Stores Inc	19,474	$1.381M	0.0%	$19.98	+4.5%	COM	931142103
—	Pargesa Holding AG - B	20,250	$1.363M	0.0%	$66.63	—	COM	h60477207
—	Loreal SA	6,400	$1.141M	0.0%	$170.79	—	COM	f58149133
LAMR	Lamar Advertising Co-A	17,285	$994K	0.0%	$54.56	—	COM	512816109
—	A P Moller-Maersk A/S	554	$972K	0.0%	$3208.82	—	COM	k0514g135
BAC	Bank Amer Corp	51,100	$870K	0.0%	$10.11	+29.9%	COM	060505104
—	Costco Whsl Corp	5,655	$764K	0.0%	$110.68	—	COM	22160k105
BTI	British Amern Tob PLC ADR	6,925	$750K	0.0%	$105.40	—	COM	110448107
—	Google Inc Cl A	1,233	$666K	0.0%	$781.69	—	COM	38259p508
—	Google Inc Cl C	1,168	$608K	0.0%	$562.94	—	COM	38259p706
DIS	Disney Walt Productions	4,850	$554K	0.0%	$57.16	+74.9%	COM	254687106
—	Chicago Bridge & Iron Co NV	10,575	$529K	0.0%	$67.80	—	COM	167250109
FULT	Fulton Finl Corp	37,030	$484K	0.0%	$7.19	+18.5%	COM	360271100
—	Conocophillips	7,288	$448K	0.0%	$60.52	—	COM	20825c104
—	Mylan NV	5,850	$397K	0.0%	$59.32	—	COM	n59465109
—	Pioneer Nat Res	2,700	$374K	0.0%	$144.67	—	COM	723787107
AIG	American Intl Group Inc	6,000	$371K	0.0%	$32.51	+40.0%	COM	026874784
CSL	Carlisle Inc	3,500	$350K	0.0%	$55.89	+53.4%	COM	142339100
MCD	McDonalds Corp	3,645	$347K	0.0%	$71.80	+3.3%	COM	580135101
BP	BP PLC ADR	7,814	$312K	0.0%	$41.74	—	COM	055622104
—	Oracle Corp	7,500	$302K	0.0%	$30.70	—	COM	68389x105
—	General Electric	10,546	$280K	0.0%	$23.40	—	COM	369604103
HTLD	Heartland Express Inc	12,499	$253K	0.0%	$13.77	+55.8%	COM	422347104
—	Nielsen NV	5,450	$244K	0.0%	$44.57	—	COM	n63218106
—	Groupe Danone	3,700	$239K	0.0%	$74.51	—	COM	f12033134
UNP	Union Pac Corp	2,510	$239K	0.0%	$74.77	+9.6%	COM	907818108
GD	General Dynamics Corp	1,600	$227K	0.0%	$56.44	+95.4%	COM	369550108
GHC	Graham Holdings Co	203	$218K	0.0%	$339.79	+67.2%	COM	384637104
SLB	Schlumberger LTD	2,525	$218K	0.0%	$53.36	+25.1%	COM	806857108
MRK	Merck Inc	3,836	$218K	0.0%	$30.02	+34.0%	COM	58933Y105
—	WABCO Holdings Inc	1,703	$211K	0.0%	$122.93	—	COM	92927k102
—	Spectrum Brands Hldgs Inc	2,000	$204K	0.0%	$102.00	—	COM	84763r101
—	Susquehanna Bancshrs Inc	14,000	$198K	0.0%	$12.85	—	COM	869099101
—	Hanjaya Mandala Sampoerna	34,500	$186K	0.0%	$5.47	—	COM	y7121z146
—	Bollore	30,000	$160K	0.0%	$4.57	—	COM	f10659260
—	Centerstate BKS FLA Inc	11,004	$149K	0.0%	$9.72	—	COM	15201p109
TGBAX	Templeton Global Bond FD	11,714	$143K	0.0%	$13.05	—	SH BEN INT	880208400
—	Cir SPA	125,000	$133K	0.0%	$1.13	—	COM	t28980125
—	Indivior PLC	28,907	$102K	0.0%	$2.34	—	COM	g4766e108
PHIYX	Pimco High Yield Fun-Instl	11,116	$101K	0.0%	$9.45	—	SH BEN INT	693390841
—	PZ Cussons PLC	15,000	$85,000	0.0%	$5.27	—	COM	g6850s109
—	LT Group Inc	150,000	$46,000	0.0%	$0.34	—	COM	y5342m100