Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
KHC	KRAFT HEINZ CO	325,634,818	$29.57B	18.3%	$90.81	—	—	COM	500754106
WFC	WELLS FARGO & CO NEW	479,704,270	$26.7B	16.5%	$55.66	—	—	COM	949746101
AAPL	APPLE INC	129,357,106	$18.58B	11.5%	$143.66	—	—	COM	037833100
KO	COCA COLA CO	400,000,000	$16.98B	10.5%	$42.44	—	—	COM	191216100
AXP	AMERICAN EXPRESS CO	151,610,700	$11.99B	7.4%	$79.11	—	—	COM	025816109
IBM	INTERNATIONAL BUSINESS MACHS	64,561,955	$11.24B	6.9%	$174.14	—	—	COM	459200101
PSX	PHILLIPS 66	80,689,892	$6.392B	3.9%	$79.22	—	—	COM	718546104
USB	US BANCORP DEL	85,063,167	$4.381B	2.7%	$51.50	—	—	COM NEW	902973304
CHTR	CHARTER COMMUNICATIONS INC N	9,443,491	$3.091B	1.9%	$327.32	—	—	CL A	16119P108
MCO	MOODYS CORP	24,669,778	$2.764B	1.7%	$112.04	—	—	COM	615369105
DVA	DAVITA HEALTHCARE PARTNERS I	38,565,570	$2.621B	1.6%	$67.97	—	—	COM	23918K108
LUV	SOUTHWEST AIRLS CO	47,659,456	$2.562B	1.6%	$53.76	—	—	COM	844741108
DAL	DELTA AIR LINES INC DEL	55,025,995	$2.529B	1.6%	$45.96	—	—	COM NEW	247361702
GS	GOLDMAN SACHS GROUP INC	10,959,519	$2.518B	1.6%	$229.72	—	—	COM	38141G104
AAL	AMERICAN AIRLS GROUP INC	49,278,854	$2.084B	1.3%	$42.30	—	—	COM	02376R102
UAL	UNITED CONTL HLDGS INC	28,951,353	$2.045B	1.3%	$70.64	—	—	COM	910047109
GM	GENERAL MTRS CO	50,000,000	$1.768B	1.1%	$35.36	—	—	COM	37045V100
BK	BANK OF NEW YORK MELLON CORP	33,012,059	$1.559B	1.0%	$47.23	—	—	COM	064058100
—	U S G CORP	39,002,016	$1.24B	0.8%	$31.80	—	—	COM NEW	903293405
VRSN	VERISIGN INC	12,952,745	$1.128B	0.7%	$87.11	—	—	COM	92343E102
V	VISA INC	10,562,460	$939M	0.6%	$88.87	—	—	COM CL A	92826C839
—	MOSANTO CO NEW	8,041,784	$910M	0.6%	$113.20	—	—	COM	61166W101
—	SIRIUS XM HLDGS INC	172,325,353	$887M	0.5%	$5.15	—	—	COM	82968B103
—	LIBERTY MEDIA CORP DELAWARE	22,307,109	$865M	0.5%	$38.78	—	—	COM C SIRIUSXM	531229607
MTB	M & T BK CORP	5,382,040	$833M	0.5%	$154.73	—	—	COM	55261F104
AXTA	AXALTA COATING SYS LTD	23,324,000	$751M	0.5%	$32.20	—	—	COM	G0750C108
COST	COSTCO WHSL CORP NEW	4,333,363	$727M	0.4%	$167.69	—	—	COM	22160K105
LBTYAUSD	LIBERTY GLOBAL PLC	20,180,897	$724M	0.4%	$35.87	—	—	SHS CL A	G5480U104
MA	MASTERCARD INC	4,934,756	$555M	0.3%	$112.47	—	—	CL A	57636Q104
—	TORCHMARK CORP	6,353,727	$489M	0.3%	$77.04	—	—	COM	891027104
QSR	RESTAURANT BRANDS INTL INC	8,438,225	$470M	0.3%	$55.74	—	—	COM	76131D103
—	LIBERTY MEDIA CORP DELAWARE	10,247,800	$399M	0.2%	$38.92	—	—	COM A SIRIUSXM	531229409
—	WABCO HLDGS INC	2,908,554	$342M	0.2%	$117.42	—	—	COM	92927K102
—	GENERAL ELECTRIC CO	10,585,502	$315M	0.2%	$29.80	—	—	COM	369604103
—	LIBERTY GLOBAL PLC	7,346,968	$257M	0.2%	$35.04	—	—	SHS CL C	G5480U120
SNY	SANOFI	3,905,875	$177M	0.1%	$45.25	—	—	SPONSORED ADR	80105N105
VRSK	VERISK ANALYTICS INC	1,563,434	$127M	0.1%	$81.14	—	—	CL A	92345Y106
WMT	WAL MART STORES INC	1,393,513	$100M	0.1%	$72.08	—	—	COM	931142103
GHC	GRAHAM HLDGS CO	107,575	$64.5M	0.0%	$599.54	—	—	COM	384637104
—	LIBERTY GLOBAL PLC	2,714,854	$60.38M	0.0%	$22.24	—	—	LILAC SHS CL A	G5480U138
JNJ	JOHNSON & JOHNSON	327,100	$40.74M	0.0%	$124.55	—	—	COM	478160104
—	LIBERTY GLOBAL PLC	1,284,020	$29.58M	0.0%	$23.04	—	—	LILAC SHS CL C	G5480U153
PG	PROCTER & GAMBLE CO	315,400	$28.34M	0.0%	$89.85	—	—	COM	742718109
MDLZ	MONDELEZ INTL INC	578,000	$24.9M	0.0%	$43.08	—	—	CL A	609207105
UPS	UNITED PARCEL SERVICE INC	59,400	$6.374M	0.0%	$107.31	—	—	CL B	911312106
VZ	VERIZON COMMUNICATIONS INC	928	$45,000	0.0%	$48.49	—	—	COM	92343V104