Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY INC DEL	116,765	$16.85M	16.5%	$144.32	$115.63	+24.8%	CL B NEW	084670702
AAPL	APPLE INC	53,447	$6.65M	6.5%	$124.42 *	$18.34	+51.0%	COM	037833100
WFC	WELLS FARGO & CO NEW	103,775	$5.645M	5.5%	$54.40 *	$30.76	+30.7%	COM	949746101
BRK/A	BERKSHIRE HATHAWAY INC DEL	21	$4.567M	4.5%	$217476.19	$173485.66	+25.4%	CL A	084670108
QSR	RESTAURANT BRANDS INTL INC	108,621	$4.172M	4.1%	$38.41	$38.08	+0.9%	COM	76131D103
—	LEUCADIA NATL CORP	183,336	$4.087M	4.0%	$22.29	$27.55	—	COM	527288104
—	LIBERTY MEDIA CORP DELAWARE	100,600	$3.878M	3.8%	$38.55	$35.27	—	CL A	531229102
—	PRECISION CASTPARTS CORP	16,575	$3.481M	3.4%	$210.02	$210.02	—	COM	740189105
—	WYNDHAM WORLDWIDE CORP	37,300	$3.375M	3.3%	$90.48	$73.23	—	COM	98310W108
JNJ	JOHNSON & JOHNSON	33,255	$3.345M	3.3%	$100.59 *	$65.75	+13.4%	COM	478160104
VZ	VERIZON COMMUNICATIONS INC	67,750	$3.295M	3.2%	$48.63 *	$27.50	+1.2%	COM	92343V104
AXP	AMERICAN EXPRESS CO	40,200	$3.14M	3.1%	$78.11 *	$69.27	-3.3%	COM	025816109
—	ALLEGHANY CORP DEL	6,385	$3.109M	3.0%	$486.92	$461.77	—	COM	017175100
AIG	AMERICAN INTL GROUP INC	55,675	$3.05M	3.0%	$54.78 *	$37.86	+11.4%	COM NEW	026874784
UPS	UNITED PARCEL SERVICE INC	30,200	$2.928M	2.9%	$96.95 *	$64.45	+2.1%	CL B	911312106
GM	GENERAL MTRS CO	70,900	$2.659M	2.6%	$37.50 *	$28.17	+3.6%	COM	37045V100
MDLZ	MONDELEZ INTL INC	70,807	$2.555M	2.5%	$36.08 *	$25.52	+11.3%	CL A	609207105
PSMT	PRICESMART INC	29,702	$2.524M	2.5%	$84.98 *	$97.68	-23.5%	COM	741511109
—	DISCOVERY COMMUNICATNS NEW	77,675	$2.389M	2.3%	$30.76	$34.45	—	COM SER A	25470F104
COST	COSTCO WHSL CORP NEW	15,437	$2.339M	2.3%	$151.52 *	$95.15	+32.9%	COM	22160K105
—	HRG GROUP INC	173,700	$2.168M	2.1%	$12.48	$12.48	—	COM	40434J100
PEP	PEPSICO INC	17,350	$1.659M	1.6%	$95.62 *	$57.75	+19.8%	COM	713448108
—	JOHNSON CTLS INC	26,500	$1.337M	1.3%	$50.45	$51.30	—	COM	478366107
—	PANHANDLE OIL AND GAS INC	66,936	$1.325M	1.3%	$19.80	$28.53	—	CL A	698477106
—	UNILEVER PLC	30,492	$1.272M	1.2%	$41.72	$41.21	—	SPON ADR NEW	904767704
MA	MASTERCARD INC	13,200	$1.14M	1.1%	$86.36 *	$72.48	+11.6%	CL A	57636Q104
CNI	CANADIAN NATL RY CO	12,350	$826K	0.8%	$66.88 *	$44.31	+24.1%	COM	136375102
—	WELLS FARGO & CO NEW	33,700	$691K	0.7%	$20.50	$20.18	—	*W EXP 10/28/201	949746119
POST	POST HLDGS INC	14,600	$684K	0.7%	$46.85 *	$32.29	-5.1%	COM	737446104
VRSK	VERISK ANALYTICS INC	9,300	$664K	0.7%	$71.40 *	$62.76	+8.7%	CL A	92345Y106
—	PLATFORM SPECIALTY PRODS COR	24,500	$629K	0.6%	$25.67	$28.03	—	COM	72766Q105
—	KRAFT FOODS GROUP INC	5,986	$521K	0.5%	$87.04	$53.96	—	COM	50076q106
—	WPX ENERGY INC	39,600	$433K	0.4%	$10.93	$20.38	—	COM	98212B103
NSC	NORFOLK SOUTHERN CORP	4,150	$427K	0.4%	$102.89 *	$65.71	+23.6%	COM	655844108
GNW	GENWORTH FINL INC	58,130	$425K	0.4%	$7.31	$14.45	-49.4%	COM CL A	37247D106
KMX	CARMAX INC	6,000	$414K	0.4%	$69.00	$49.02	+40.8%	COM	143130102
—	CEDAR FAIR L P	6,200	$356K	0.3%	$57.42	$49.52	—	DEPOSITRY UNIT	150185106
—	GENERAL ELECTRIC CO	11,843	$294K	0.3%	$24.82	$24.82	—	COM	369604103
—	U S G CORP	10,962	$293K	0.3%	$26.73	$28.37	—	COM NEW	903293405
FMX	FOMENTO ECONOMICO MEXICANO S	3,090	$289K	0.3%	$93.53	$94.03	-0.6%	SPON ADR UNITS	344419106
WMT	WAL-MART STORES INC	3,400	$280K	0.3%	$82.35 *	$20.35	+9.9%	COM	931142103
—	GOOGLE INC	510	$279K	0.3%	$547.06	$564.32	—	CL C	38259P706
TSBK	TIMBERLAND BANCORP INC	25,000	$267K	0.3%	$10.68 *	$6.31	+20.5%	COM	887098101
DVA	DAVITA HEALTHCARE PARTNERS I	3,200	$260K	0.3%	$81.25	$76.74	+5.9%	COM	23918K108
META	FACEBOOK INC	3,000	$247K	0.2%	$82.33	$61.09	+33.7%	CL A	30303M102
—	GOOGLE INC	400	$222K	0.2%	$555.00	$1120.00	—	CL A	38259P508
ACN	ACCENTURE PLC IRELAND	2,300	$215K	0.2%	$93.48 *	$61.54	+27.2%	SHS CLASS A	G1151C101
KO	COCA COLA CO	5,020	$204K	0.2%	$40.64 *	$26.95	+7.2%	COM	191216100
UAL	UNITED CONTL HLDGS INC	3,000	$202K	0.2%	$67.33	$55.38	+21.4%	COM	910047109