Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
KO	COCA-COLA	12,226,890	$480M	9.3%	$29.89	-2.9%	COM	191216100
MSFT	MICROSOFT	8,502,149	$375M	7.3%	$31.04	+26.6%	COM	594918104
BRK/B	BERKSHIRE HATHAWAY B	2,521,240	$343M	6.6%	$134.77	+5.8%	COM	084670702
—	MICHAEL KORS	7,715,720	$325M	6.3%	$63.37	—	COM	G60754101
JNJ	JOHNSON & JOHNSON	3,315,460	$323M	6.2%	$70.39	+5.8%	COM	478160104
—	GOOGLE - CLASS A	535,980	$289M	5.6%	$545.84	—	COM	38259P508
QCOM	QUALCOMM	4,405,965	$276M	5.3%	$51.96	-3.2%	COM	747525103
PG	PROCTER & GAMBLE	2,558,058	$200M	3.9%	$59.06	+1.5%	COM	742718109
—	UNITED TECHNOLOGIES	1,542,312	$171M	3.3%	$106.24	—	COM	913017109
AMGN	AMGEN	1,084,670	$167M	3.2%	$109.79	+7.1%	COM	031162100
PM	PHILIP MORRIS INTL.	1,972,318	$158M	3.1%	$49.73	-2.9%	COM	718172109
AAPL	APPLE	1,089,568	$137M	2.6%	$30.73	-7.1%	COM	037833100
EMR	EMERSON ELECTRIC	2,284,250	$127M	2.4%	$45.22	-2.2%	COM	291011104
MMM	3M	811,445	$125M	2.4%	$92.66	+2.3%	COM	88579Y101
MA	MASTERCARD	1,302,144	$122M	2.4%	$78.21	+10.1%	COM	57636Q104
EBAY	EBAY	1,996,445	$120M	2.3%	$19.57	+13.4%	COM	278642103
MDT	MEDTRONIC	1,566,590	$116M	2.2%	$58.21	+1.0%	COM	G5960L103
ABT	ABBOTT LABORATORIES	2,270,610	$111M	2.2%	$37.26	+5.6%	COM	002824100
—	PRICELINE GROUP	77,229	$88.92M	1.7%	$1153.62	—	COM	741503403
IBM	IBM	526,801	$85.69M	1.7%	$107.88	-4.5%	COM	459200101
PEP	PEPSICO	810,980	$75.7M	1.5%	$61.42	+12.9%	COM	713448108
PFE	PFIZER	1,935,880	$64.91M	1.3%	$19.19	+8.3%	COM	717081103
CSCO	CISCO SYSTEMS	1,759,610	$48.32M	0.9%	$19.41	+6.3%	COM	17275R102
DHR	DANAHER	560,407	$47.97M	0.9%	$34.86	0.0%	COM	235851102
ORCL	ORACLE	1,066,905	$43M	0.8%	$29.66	+24.7%	COM	68389X105
—	COACH	1,085,380	$37.56M	0.7%	$42.31	—	COM	189754104
ABEV	AMBEV ADR	5,938,500	$36.23M	0.7%	$5.91	—	COM	02319V103
BIDU	BAIDU ADR	176,580	$35.15M	0.7%	$199.08	—	COM	056752108
—	NATIONAL OILWELL VARCO	628,950	$30.37M	0.6%	$69.66	—	COM	637071101
TJX	TJX COMPANIES	451,750	$29.89M	0.6%	$25.86	+11.0%	COM	872540109
UNP	UNION PACIFIC	307,150	$29.29M	0.6%	$81.05	+1.1%	COM	907818108
XOM	EXXON MOBIL	337,560	$28.09M	0.5%	$57.32	-5.3%	COM	30231G102
—	BARRICK GOLD	2,575,640	$27.46M	0.5%	$16.11	—	COM	067901108
—	0,350% PRICELINE 15.06.2020	24,500,000	$27.37M	0.5%	$1.12	—	NOTE	741503AS5
CL	COLGATE-PALMOLIVE	397,120	$25.98M	0.5%	$51.47	+2.9%	COM	194162103
—	POTASH CORP SASKATCHEWAN	809,500	$25.07M	0.5%	$37.29	—	COM	73755L107
—	CHINA MOBILE ADR	349,250	$22.38M	0.4%	$51.81	—	COM	16941M109
—	SEAGATE TECHNOLOGY	456,000	$21.66M	0.4%	$54.91	—	COM	G7945M107
SYK	STRYKER	215,800	$20.62M	0.4%	$59.59	+40.6%	COM	863667101
MU	MICRON TECHNOLOGY	1,026,300	$19.34M	0.4%	$29.28	-11.2%	COM	595112103
MCD	MCDONALDS	195,330	$18.57M	0.4%	$80.18	-7.5%	COM	580135101
—	KELLOGG	261,976	$16.43M	0.3%	$41.26	-0.3%	COM	487836108
VZ	VERIZON COMMUNICATIONS	350,179	$16.32M	0.3%	$27.24	+4.0%	COM	92343V104
—	QIAGEN	658,500	$16.17M	0.3%	$23.37	—	COM	N72482107
NEM	NEWMONT MINING	651,950	$15.23M	0.3%	$25.01	-21.8%	COM	651639106
—	EMC	564,690	$14.9M	0.3%	$25.12	—	COM	268648102
SLB	SCHLUMBERGER	162,700	$14.02M	0.3%	$79.40	-15.9%	COM	806857108
DDS	DILLARDS	127,950	$13.46M	0.3%	$89.72	+1.7%	COM	254067101
—	XEROX	1,214,710	$12.93M	0.2%	$9.94	—	COM	984121103
COP	CONOCOPHILLIPS	185,000	$11.36M	0.2%	$61.71	-24.8%	COM	20825C104
WFC	WELLS FARGO	195,000	$10.97M	0.2%	$40.16	+3.0%	COM	949746101
—	YAHOO!	271,599	$10.67M	0.2%	$35.32	—	COM	984332106
INTC	INTEL	327,150	$9.95M	0.2%	$26.00	-3.5%	COM	458140100
—	1,375% LIBERTY MEDIA 15.10.2023	10,000,000	$9.514M	0.2%	$0.99	—	NOTE	531229AB8
WDC	WESTERN DIGITAL	117,600	$9.222M	0.2%	$48.98	+23.0%	COM	958102105
ZBH	ZIMMER BIOMET HOLDINGS	84,100	$9.186M	0.2%	$66.24	+53.2%	COM	98956P102
—	JOHNSON & JOHNSON CALL	800	$7.797M	0.2%	—	—	Call	478160904
—	LIBERTY INTERACTIVE A	257,000	$7.132M	0.1%	$27.75	—	COM	53071M104
—	2,950% INTEL 15.12.2035	5,500,000	$6.624M	0.1%	$1.13	—	NOTE	458140AD2
ABBV	ABBVIE	95,500	$6.417M	0.1%	$22.34	+89.5%	COM	00287Y109
—	0,500% TOLL BROTHERS 15.09.2032	6,000,000	$6.268M	0.1%	$1.06	—	NOTE	88947EAM2
—	0,625% JDS UNIPHASE 15.08.2033	6,000,000	$5.879M	0.1%	$1.01	—	NOTE	46612JAF8
NTES	NETEASE ADR	38,900	$5.635M	0.1%	$78.36	—	COM	64110W102
TMO	THERMO FISHER SCIENTIFIC	41,680	$5.408M	0.1%	$96.15	+31.3%	COM	883556102
HON	HONEYWELL INTERNATIONAL	50,000	$5.099M	0.1%	$74.76	0.0%	COM	438516106
—	3,000% MICRON TECHNOLOGY 15.11.2043	5,000,000	$4.557M	0.1%	$1.20	—	NOTE	595112AY9
—	MICROSOFT CALL	1,000	$4.415M	0.1%	—	—	Call	594918904
—	1,000% SINA 01.12.2018	4,500,000	$4.295M	0.1%	$0.92	—	NOTE	82922RAD5
—	0,500% CITRIX SYSTEMS 15.04.2019	4,000,000	$4.237M	0.1%	$1.06	—	NOTE	177376AD2
MDLZ	MONDELEZ INT.	100,000	$4.114M	0.1%	$23.20	+33.0%	COM	609207105
—	0,500% SANDISK 15.10.2020	4,000,000	$3.89M	0.1%	$1.10	—	NOTE	80004CAF8
—	CISCO SYSTEMS CALL	1,300	$3.57M	0.1%	—	—	Call	17275R902
—	1,125% YANDEX 15.12.2018	4,000,000	$3.461M	0.1%	$0.83	—	NOTE	98474TAB3
GLD	SPDR GOLD TRUST	30,000	$3.371M	0.1%	$139.15	—	GOLD SHS	78463V107
BAX	BAXTER INTERNATIONAL	75,500	$2.868M	0.1%	$29.52	+6.6%	COM	071813109
—	MASTERCARD CALL	300	$2.804M	0.1%	—	—	Call	57636Q904
WMT	WAL-MART STORES	36,900	$2.617M	0.1%	$23.92	-12.7%	COM	931142103
ROST	ROSS STORES	53,400	$2.596M	0.1%	$37.42	+21.0%	COM	778296103
TSM	TAIWAN SEMICONDUCTOR ADR	105,000	$2.385M	0.0%	$22.26	—	COM	874039100
—	1,000% NVIDIA 01.12.2018	2,000,000	$2.303M	0.0%	$1.15	—	NOTE	67066GAC8
—	GOOGLE - CLASS C	3,502	$1.823M	0.0%	$575.23	—	COM	38259P706
WU	WESTERN UNION	85,500	$1.738M	0.0%	$14.32	—	COM	959802109
RDY	DR REDDY'S LABORATORIES ADR	23,000	$1.272M	0.0%	$49.94	—	COM	256135203
—	MICHAEL KORS HOLDINGS CALL	300	$1.263M	0.0%	—	—	Call	G60754901
CCU	CERVECERIAS UNIDAS ADR	57,000	$1.207M	0.0%	$19.61	—	COM	204429104
—	7,500% WELLS FARGO 15.12.2049	1,000	$1.175M	0.0%	$1220.00	—	NOTE	949746804
YUM	YUM! BRANDS	12,750	$1.149M	0.0%	$57.10	-9.0%	COM	988498101
—	GRUPO SANTANDER MEXICO ADR	122,500	$1.121M	0.0%	$10.66	—	COM	40053C105
BAP	CREDICORP	7,250	$1.007M	0.0%	$119.49	-5.8%	COM	G2519Y108
—	GRUPO PAO DE ACUCAR ADR	38,000	$899K	0.0%	$38.33	—	COM	20440T201
UGP	ULTRAPAR ADR	41,500	$872K	0.0%	$19.70	—	COM	90400P101
NBIS	YANDEX	57,000	$868K	0.0%	$17.96	—	COM	N97284108
GWW	WW GRAINGER	3,550	$840K	0.0%	$204.46	-0.1%	COM	384802104
IFF	INTL FLAVORS & FRAGRANCES	7,500	$820K	0.0%	$80.81	+10.5%	COM	459506101
—	L BRANDS	9,500	$814K	0.0%	$65.72	—	COM	501797104
PSX	PHILLIPS 66	10,000	$806K	0.0%	$33.24	+61.5%	COM	718546104
—	DIAMOND OFFSH. DRILLING	20,000	$516K	0.0%	$25.80	—	COM	25271C102
BRK/A	BERKSHIRE HATHAWAY A	2	$410K	0.0%	$161908.78	+32.5%	COM	084670108
—	GOLDCORP	22,600	$366K	0.0%	$17.48	—	COM	380956409
DE	DEERE & CO.	3,600	$349K	0.0%	$69.76	+8.0%	COM	244199105
OXY	OCCIDENTAL PETROLEUM	4,100	$319K	0.0%	$82.45	-31.0%	COM	674599105
PH	PARKER HANNIFIN	2,500	$291K	0.0%	$102.00	-0.5%	COM	701094104
T	AT & T	7,150	$254K	0.0%	$11.81	+3.4%	COM	00206R102