Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY INC DEL	122,883	$18.45M	17.4%	$150.15	$115.63	+29.8%	CL B NEW	084670702
AAPL	APPLE INC	62,722	$6.923M	6.5%	$110.38 *	$18.34	+33.4%	COM	037833100
WFC	WELLS FARGO & CO NEW	112,525	$6.169M	5.8%	$54.82 *	$30.76	+30.8%	COM	949746101
BRK/A	BERKSHIRE HATHAWAY INC DEL	21	$4.746M	4.5%	$226000.00	$173485.66	+30.3%	CL A	084670108
QSR	RESTAURANT BRANDS INTL INC	118,721	$4.635M	4.4%	$39.04	$38.08	+2.5%	COM	76131D103
—	LEUCADIA NATL CORP	190,235	$4.265M	4.0%	$22.42	$27.55	—	COM	527288104
AXP	AMERICAN EXPRESS CO	44,800	$4.168M	3.9%	$93.04 *	$69.27	+14.5%	COM	025816109
UPS	UNITED PARCEL SERVICE INC	35,550	$3.952M	3.7%	$111.17 *	$64.45	+16.3%	CL B	911312106
JNJ	JOHNSON & JOHNSON	35,655	$3.728M	3.5%	$104.56 *	$65.75	+17.1%	COM	478160104
—	LIBERTY MEDIA CORP DELAWARE	103,900	$3.665M	3.4%	$35.27	$35.27	—	CL A	531229102
—	WYNDHAM WORLDWIDE CORP	40,300	$3.456M	3.3%	$85.76	$73.23	—	COM	98310W108
VZ	VERIZON COMMUNICATIONS INC	73,250	$3.427M	3.2%	$46.78 *	$27.50	-3.7%	COM	92343V104
AIG	AMERICAN INTL GROUP INC	59,675	$3.342M	3.1%	$56.00 *	$37.86	+13.6%	COM NEW	026874784
PSMT	PRICESMART INC	31,789	$2.9M	2.7%	$91.23 *	$97.68	-18.3%	COM	741511109
—	DISCOVERY COMMUNICATNS NEW	83,475	$2.876M	2.7%	$34.45	$34.45	—	COM SER A	25470F104
MDLZ	MONDELEZ INTL INC	78,307	$2.845M	2.7%	$36.33 *	$25.52	+11.5%	CL A	609207105
GM	GENERAL MTRS CO	76,900	$2.685M	2.5%	$34.92 *	$28.17	-4.3%	COM	37045V100
—	HARBINGER GROUP INC	173,700	$2.46M	2.3%	$14.16	$12.70	—	COM	41146a106
COST	COSTCO WHSL CORP NEW	15,590	$2.21M	2.1%	$141.76 *	$95.15	+20.1%	COM	22160K105
—	PANHANDLE OIL AND GAS INC	76,936	$1.791M	1.7%	$23.28	$28.53	—	CL A	698477106
PEP	PEPSICO INC	18,650	$1.764M	1.7%	$94.58 *	$57.75	+17.7%	COM	713448108
—	JOHNSON CTLS INC	27,900	$1.349M	1.3%	$48.35	$51.30	—	COM	478366107
—	UNILEVER PLC	30,492	$1.234M	1.2%	$40.47	$41.21	—	SPON ADR NEW	904767704
MA	MASTERCARD INC	13,000	$1.12M	1.1%	$86.15 *	$72.35	+11.3%	CL A	57636Q104
GNW	GENWORTH FINL INC	124,130	$1.055M	1.0%	$8.50	$14.45	-41.2%	COM CL A	37247D106
KO	COCA COLA CO	24,350	$1.028M	1.0%	$42.22 *	$26.95	+10.7%	COM	191216100
—	ALLEGHANY CORP DEL	1,935	$897K	0.8%	$463.57	$403.93	—	COM	017175100
VRSK	VERISK ANALYTICS INC	13,300	$852K	0.8%	$64.06 *	$62.76	-2.5%	CL A	92345Y106
CNI	CANADIAN NATL RY CO	12,350	$851K	0.8%	$68.91 *	$44.31	+27.4%	COM	136375102
—	PLATFORM SPECIALTY PRODS COR	32,000	$743K	0.7%	$23.22	$28.03	—	COM	72766Q105
—	WELLS FARGO & CO NEW	33,700	$720K	0.7%	$21.36	$20.18	—	*W EXP 10/28/201	949746119
POST	POST HLDGS INC	14,600	$612K	0.6%	$41.92 *	$32.29	-15.1%	COM	737446104
—	WPX ENERGY INC	49,600	$577K	0.5%	$11.63	$20.38	—	COM	98212B103
PG	PROCTER & GAMBLE CO	5,872	$535K	0.5%	$91.11 *	$58.01	+15.5%	COM	742718109
KMX	CARMAX INC	7,000	$466K	0.4%	$66.57	$49.02	+35.8%	COM	143130102
NSC	NORFOLK SOUTHERN CORP	4,150	$455K	0.4%	$109.64 *	$65.71	+30.9%	COM	655844108
—	KRAFT FOODS GROUP INC	5,986	$375K	0.4%	$62.65	$53.96	—	COM	50076q106
—	U S G CORP	10,862	$304K	0.3%	$27.99	$28.37	—	COM NEW	903293405
—	CEDAR FAIR L P	6,200	$297K	0.3%	$47.90	$49.52	—	DEPOSITRY UNIT	150185106
WMT	WAL-MART STORES INC	3,400	$292K	0.3%	$85.88 *	$20.35	+14.1%	COM	931142103
FMX	FOMENTO ECONOMICO MEXICANO S	3,090	$272K	0.3%	$88.03	$94.03	-6.4%	SPON ADR UNITS	344419106
—	GOOGLE INC	510	$268K	0.3%	$525.49	$564.32	—	CL C	38259P706
TSBK	TIMBERLAND BANCORP INC	25,000	$265K	0.2%	$10.60 *	$6.31	+19.4%	COM	887098101
META	FACEBOOK INC	3,000	$234K	0.2%	$78.00	$61.09	+26.8%	CL A	30303M102
BP	BP PLC	5,956	$227K	0.2%	$38.11	$45.52	-16.3%	SPONSORED ADR	055622104
—	GOOGLE INC	400	$212K	0.2%	$530.00	$1120.00	—	CL A	38259P508
ACN	ACCENTURE PLC IRELAND	2,300	$205K	0.2%	$89.13 *	$61.54	+21.3%	SHS CLASS A	G1151C101
UAL	UNITED CONTL HLDGS INC	3,000	$201K	0.2%	$67.00	$55.38	+20.8%	COM	910047109
—	EXCO RESOURCES INC	66,000	$143K	0.1%	$2.17	$5.20	—	COM	269279402