Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
KO	COCA-COLA	5,925,930	$253M	5.5%	$31.23	-7.6%	COM	191216100
—	PETSMART	3,522,900	$247M	5.4%	$65.71	—	COM	716768106
MSFT	MICROSOFT	5,177,825	$240M	5.2%	$26.74	+40.8%	COM	594918104
EBAY	EBAY	4,200,085	$238M	5.2%	$19.57	+1.1%	COM	278642103
QCOM	QUALCOMM	3,034,260	$227M	4.9%	$52.32	+5.9%	COM	747525103
—	MICHAEL KORS	3,147,510	$225M	4.9%	$77.46	—	COM	G60754101
PG	PROCTER & GAMBLE	2,331,197	$195M	4.2%	$58.34	+2.4%	COM	742718109
JNJ	JOHNSON & JOHNSON	1,693,270	$180M	3.9%	$65.78	+14.9%	COM	478160104
—	YAHOO!	4,205,810	$171M	3.7%	$35.32	—	COM	984332106
IBM	IBM	796,265	$151M	3.3%	$108.55	+5.3%	COM	459200101
—	NATIONAL OILWELL VARCO	1,887,352	$144M	3.1%	$72.58	—	COM	637071101
EMR	EMERSON ELECTRIC	2,248,950	$141M	3.1%	$46.51	+2.7%	COM	291011104
—	UNITED TECHNOLOGIES	1,322,160	$140M	3.0%	$104.92	—	COM	913017109
BRK/B	BERKSHIRE HATHAWAY B	995,500	$138M	3.0%	$119.51	+11.5%	COM	084670702
SLB	SCHLUMBERGER	1,351,793	$137M	3.0%	$79.40	+0.1%	COM	806857108
ABT	ABBOTT LABORATORIES	2,920,160	$121M	2.6%	$37.26	-8.5%	COM	002824100
MCD	MCDONALDS	1,275,975	$121M	2.6%	$80.18	-11.1%	COM	580135101
PM	PHILIP MORRIS INTL.	1,358,400	$113M	2.5%	$50.37	-4.9%	COM	718172109
—	MEDTRONIC	1,794,271	$111M	2.4%	$50.79	—	COM	585055106
BAX	BAXTER INTERNATIONAL	1,514,250	$109M	2.4%	$29.36	+13.9%	COM	071813109
ROST	ROSS STORES	1,429,138	$108M	2.3%	$30.87	+0.8%	COM	778296103
AMGN	AMGEN	755,661	$106M	2.3%	$74.95	+26.1%	COM	031162100
—	GOOGLE - CLASS A	129,600	$76.26M	1.7%	$587.59	—	COM	38259P508
PFE	PFIZER	2,326,680	$68.8M	1.5%	$19.19	-9.1%	COM	717081103
PEP	PEPSICO	688,100	$64.06M	1.4%	$58.96	+10.1%	COM	713448108
XOM	EXXON MOBIL	469,870	$44.19M	1.0%	$57.55	+6.9%	COM	30231G102
ORCL	ORACLE	1,100,210	$42.12M	0.9%	$28.64	+19.5%	COM	68389X105
CVX	CHEVRON	331,100	$39.51M	0.9%	$72.28	+8.6%	COM	166764100
—	BARRICK GOLD	2,447,650	$35.88M	0.8%	$18.00	—	COM	067901108
MMM	3M	229,770	$32.55M	0.7%	$86.62	-3.6%	COM	88579Y101
CSCO	CISCO SYSTEMS	1,290,740	$32.49M	0.7%	$17.77	-0.4%	COM	17275R102
—	POTASH CORP SASKATCHEWAN	864,500	$29.88M	0.6%	$37.29	—	COM	73755L107
—	COACH	820,530	$29.22M	0.6%	$43.75	—	COM	189754104
WU	WESTERN UNION	1,707,530	$27.39M	0.6%	$14.32	—	COM	959802109
TJX	TJX COMPANIES	439,200	$25.99M	0.6%	$24.12	0.0%	COM	872540109
MA	MASTERCARD	331,250	$24.49M	0.5%	$69.81	+1.8%	COM	57636Q104
CL	COLGATE-PALMOLIVE	353,050	$23.03M	0.5%	$50.83	-0.3%	COM	194162103
—	CHINA MOBILE ADR	388,150	$22.8M	0.5%	$48.61	—	COM	16941M109
GIS	GENERAL MILLS	450,910	$22.75M	0.5%	$35.46	0.0%	COM	370334104
UNP	UNION PACIFIC	202,500	$21.95M	0.5%	$76.12	+5.5%	COM	907818108
—	XEROX	1,613,910	$21.35M	0.5%	$9.94	—	COM	984121103
—	QIAGEN	884,662	$20.15M	0.4%	$23.25	—	COM	N72482107
SYK	STRYKER	237,000	$19.14M	0.4%	$55.30	+30.1%	COM	863667101
—	SEAGATE TECHNOLOGY	313,500	$17.95M	0.4%	$56.82	—	COM	G7945M107
—	L BRANDS	263,000	$17.62M	0.4%	$58.09	—	COM	501797104
AAPL	APPLE	169,169	$17.04M	0.4%	$42.60	-49.2%	COM	037833100
COP	CONOCOPHILLIPS	186,800	$14.29M	0.3%	$61.71	-8.1%	COM	20825C104
WDC	WESTERN DIGITAL	146,200	$14.23M	0.3%	$47.49	+31.4%	COM	958102105
MU	MICRON TECHNOLOGY	402,200	$13.78M	0.3%	$30.73	+2.8%	COM	595112103
NEM	NEWMONT MINING	593,130	$13.67M	0.3%	$25.96	-23.4%	COM	651639106
—	EMC	455,540	$13.33M	0.3%	$24.93	—	COM	268648102
—	COCA COLA CALL	2,500	$10.66M	0.2%	—	—	Call	191216900
ZBH	ZIMMER HOLDINGS	104,000	$10.46M	0.2%	$55.90	+60.3%	COM	98956P102
—	KELLOGG	155,030	$9.55M	0.2%	$38.80	+4.4%	COM	487836108
—	1,625% NEWMONT MINING 15.07.2017	8,500,000	$8.736M	0.2%	$1.36	—	NOTE	651639AJ5
—	COVIDIEN	98,000	$8.478M	0.2%	$90.18	—	COM	G2554F113
WMT	WAL-MART STORES	109,650	$8.385M	0.2%	$24.00	-15.4%	COM	931142103
NTES	NETEASE ADR	95,000	$8.138M	0.2%	$78.36	—	COM	64110W102
—	2,750% NUANCE 01.11.2031	7,500,000	$7.506M	0.2%	$1.04	—	NOTE	67020YAF7
ABBV	ABBVIE	126,500	$7.307M	0.2%	$22.34	+57.4%	COM	00287Y109
—	2,950% INTEL 15.12.2035	5,000,000	$6.442M	0.1%	$1.08	—	NOTE	458140AD2
—	0,500% TOLL BROTHERS 15.09.2032	6,000,000	$6.068M	0.1%	$1.06	—	NOTE	88947EAM2
—	0,625% JDS UNIPHASE 15.08.2033	6,000,000	$6.053M	0.1%	$1.01	—	NOTE	46612JAF8
—	ADT CALL	1,500	$5.319M	0.1%	—	—	Call	00101J906
VZ	VERIZON COMMUNICATIONS	100,389	$5.018M	0.1%	$25.87	+7.4%	COM	92343V104
SFL 3.25 02/01/18	3,250% SHIP FINANCE 01.02.2018	4,500,000	$4.918M	0.1%	$1.15	—	NOTE	G81075AE6
—	GOOGLE - CLASS C	6,500	$3.753M	0.1%	$575.23	—	COM	38259P706
GLD	SPDR GOLD TRUST	30,000	$3.486M	0.1%	$139.15	—	GOLD SHS	78463V107
MDLZ	MONDELEZ INT.	100,000	$3.427M	0.1%	$23.20	+22.1%	COM	609207105
—	0,350% PRICELINE 15.06.2020	3,000,000	$3.368M	0.1%	$1.12	—	NOTE	741503AS5
—	NUANCE COMMUNICATIONS	185,000	$2.852M	0.1%	$18.40	—	COM	67020Y100
DDS	DILLARDS	22,000	$2.398M	0.1%	$71.44	+20.7%	COM	254067101
—	MICHAEL KORS HOLDINGS CALL	300	$2.142M	0.0%	—	—	Call	G60754901
TMO	THERMO FISHER SCIENTIFIC	14,640	$1.782M	0.0%	$52.42	+123.9%	COM	883556102
YUM	YUM! BRANDS	12,750	$918K	0.0%	$57.10	-24.8%	COM	988498101
OXY	OCCIDENTAL PETROLEUM	9,100	$875K	0.0%	$82.45	-17.5%	COM	674599105
PSX	PHILLIPS 66	10,000	$813K	0.0%	$33.24	+65.8%	COM	718546104
ABEV	AMBEV ADR	80,000	$524K	0.0%	$6.95	—	COM	02319V103
TSM	TAIWAN SEMICONDUCTOR ADR	25,000	$505K	0.0%	$21.26	—	COM	874039100
GWW	WW GRAINGER	2,000	$503K	0.0%	$203.85	0.0%	COM	384802104
DE	DEERE & CO.	5,600	$459K	0.0%	$69.76	-0.5%	COM	244199105
BRK/A	BERKSHIRE HATHAWAY A	2	$414K	0.0%	$161908.78	+23.4%	COM	084670108
CCU	CERVECERIAS UNIDAS ADR	15,500	$341K	0.0%	$23.16	—	COM	204429104
GILD	GILEAD SCIENCES	3,000	$319K	0.0%	$54.08	+25.8%	COM	375558103
BAP	CREDICORP	2,000	$307K	0.0%	$114.42	+1.9%	COM	G2519Y108
—	GRUPO PAO DE ACUCAR ADR	7,000	$305K	0.0%	$46.38	—	COM	20440T201
UGP	ULTRAPAR ADR	13,500	$285K	0.0%	$22.95	—	COM	90400P101
—	GRUPO SANTANDER MEXICO ADR	19,000	$257K	0.0%	$13.28	—	COM	40053C105
—	GENERAL ELECTRIC	10,000	$256K	0.0%	$26.30	—	COM	369604103
—	KRAFT FOODS GROUP	4,400	$248K	0.0%	$56.36	—	COM	50076Q106
—	STAPLES	19,470	$236K	0.0%	$12.76	—	COM	855030102
DB	DEUTSCHE BANK	6,330	$222K	0.0%	$26.07	0.0%	COM	D18190898
RDY	DR REDDY'S LABORATORIES ADR	4,000	$210K	0.0%	$43.17	—	COM	256135203
VALE	VALE ADR	17,000	$187K	0.0%	$13.24	—	COM	91912E105
CNH	CNH INDUSTRIAL	22,500	$179K	0.0%	$7.73	-19.4%	COM	N20944109