Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
KO	COCA-COLA	13,054,733	$524M	9.1%	$29.82	-3.3%	COM	191216100
MSFT	MICROSOFT	8,699,439	$385M	6.7%	$31.22	+24.7%	COM	594918104
BRK/B	BERKSHIRE HATHAWAY B	2,781,672	$363M	6.3%	$134.98	+1.5%	COM	084670702
—	MICHAEL KORS	8,151,185	$344M	6.0%	$62.24	—	COM	G60754101
—	GOOGLE - CLASS A	523,205	$334M	5.8%	$545.84	—	COM	38259P508
JNJ	JOHNSON & JOHNSON	3,504,870	$327M	5.7%	$70.50	+2.8%	COM	478160104
PG	PROCTER & GAMBLE	4,062,563	$292M	5.1%	$58.05	-3.0%	COM	742718109
MMM	3M	1,972,720	$280M	4.9%	$89.63	-2.4%	COM	88579Y101
QCOM	QUALCOMM	4,567,890	$245M	4.3%	$51.69	-14.6%	COM	747525103
AAPL	APPLE	2,122,104	$234M	4.1%	$28.57	-8.0%	COM	037833100
PM	PHILIP MORRIS INTL.	2,311,393	$183M	3.2%	$49.61	-1.4%	COM	718172109
AMGN	AMGEN	1,257,402	$174M	3.0%	$110.67	+5.0%	COM	031162100
ABT	ABBOTT LABORATORIES	4,164,806	$168M	2.9%	$37.96	+2.2%	COM	002824100
—	UNITED TECHNOLOGIES	1,860,646	$166M	2.9%	$103.29	—	COM	913017109
EMR	EMERSON ELECTRIC	3,496,292	$154M	2.7%	$42.49	-12.1%	COM	291011104
DHR	DANAHER	1,663,207	$142M	2.5%	$35.62	+1.1%	COM	235851102
MA	MASTERCARD	1,463,159	$132M	2.3%	$79.32	+11.3%	COM	57636Q104
MDT	MEDTRONIC	1,721,390	$115M	2.0%	$58.10	-1.9%	COM	G5960L103
—	PRICELINE GROUP	81,899	$101M	1.8%	$1158.37	—	COM	741503403
PEP	PEPSICO	823,480	$77.65M	1.4%	$61.54	+13.0%	COM	713448108
PYPL	PAYPAL	2,434,745	$75.57M	1.3%	$35.85	0.0%	COM	70450Y103
PFE	PFIZER	2,018,400	$63.4M	1.1%	$19.25	+7.0%	COM	717081103
CSCO	CISCO SYSTEMS	2,003,360	$52.59M	0.9%	$19.43	+0.7%	COM	17275R102
IBM	IBM	317,720	$46.06M	0.8%	$107.88	-11.6%	COM	459200101
ORCL	ORACLE	1,261,805	$45.58M	0.8%	$30.16	+9.1%	COM	68389X105
—	COACH	1,188,780	$34.39M	0.6%	$41.15	—	COM	189754104
UNP	UNION PACIFIC	374,300	$33.09M	0.6%	$79.46	-9.2%	COM	907818108
TJX	TJX COMPANIES	456,865	$32.63M	0.6%	$25.91	+17.1%	COM	872540109
V	VISA - CLASS A	449,500	$31.31M	0.5%	$66.38	0.0%	COM	92826C839
BIDU	BAIDU ADR	221,210	$30.4M	0.5%	$186.64	—	COM	056752108
ABEV	AMBEV ADR	6,008,500	$29.44M	0.5%	$5.90	—	COM	02319V103
—	0,350% PRICELINE 15.06.2020	24,500,000	$28.88M	0.5%	$1.12	—	NOTE	741503AS5
—	NATIONAL OILWELL VARCO	728,900	$27.44M	0.5%	$65.27	—	COM	637071101
CL	COLGATE-PALMOLIVE	418,870	$26.58M	0.5%	$51.46	-0.3%	COM	194162103
XOM	EXXON MOBIL	318,670	$23.69M	0.4%	$57.32	-14.4%	COM	30231G102
—	CHINA MOBILE ADR	391,750	$23.31M	0.4%	$52.64	—	COM	16941M109
VZ	VERIZON COMMUNICATIONS	521,389	$22.69M	0.4%	$27.16	-0.6%	COM	92343V104
—	SEAGATE TECHNOLOGY	482,500	$21.62M	0.4%	$54.36	—	COM	G7945M107
DDS	DILLARDS	234,150	$20.46M	0.4%	$81.65	-11.9%	COM	254067101
SYK	STRYKER	214,500	$20.18M	0.4%	$59.59	+47.5%	COM	863667101
MU	MICRON TECHNOLOGY	1,182,500	$17.71M	0.3%	$27.63	-39.3%	COM	595112103
MCD	MCDONALDS	172,125	$16.96M	0.3%	$80.18	-6.0%	COM	580135101
—	POTASH CORP SASKATCHEWAN	810,500	$16.66M	0.3%	$37.29	—	COM	73755L107
—	EMC	655,300	$15.83M	0.3%	$24.98	—	COM	268648102
INTC	INTEL	442,150	$13.33M	0.2%	$25.12	-10.0%	COM	458140100
—	QIAGEN	499,900	$12.87M	0.2%	$23.37	—	COM	N72482107
EBAY	EBAY	514,500	$12.57M	0.2%	$19.57	+22.3%	COM	278642103
—	BARRICK GOLD	1,880,640	$11.96M	0.2%	$16.11	—	COM	067901108
COP	CONOCOPHILLIPS	242,500	$11.63M	0.2%	$55.81	-34.1%	COM	20825C104
WFC	WELLS FARGO	214,000	$10.99M	0.2%	$40.24	+2.1%	COM	949746101
NEM	NEWMONT MINING	657,630	$10.57M	0.2%	$25.01	-44.0%	COM	651639106
—	XEROX	1,039,610	$10.12M	0.2%	$9.94	—	COM	984121103
—	1,375% LIBERTY MEDIA 15.10.2023	10,000,000	$9.559M	0.2%	$0.99	—	NOTE	531229AB8
SLB	SCHLUMBERGER	120,350	$8.301M	0.1%	$79.40	-25.8%	COM	806857108
—	YAHOO!	281,999	$8.153M	0.1%	$35.08	—	COM	984332106
—	LIBERTY INTERACTIVE A	302,000	$7.921M	0.1%	$27.52	—	COM	53071M104
ZBH	ZIMMER BIOMET HOLDINGS	84,100	$7.9M	0.1%	$66.24	+38.9%	COM	98956P102
—	JOHNSON & JOHNSON CALL	800	$7.468M	0.1%	—	—	Call	478160904
—	2,950% INTEL 15.12.2035	6,000,000	$7.367M	0.1%	$1.14	—	NOTE	458140AD2
WDC	WESTERN DIGITAL	81,000	$6.435M	0.1%	$48.98	+3.9%	COM	958102105
TMO	THERMO FISHER SCIENTIFIC	50,830	$6.215M	0.1%	$101.58	+24.4%	COM	883556102
—	0,500% TOLL BROTHERS 15.09.2032	6,000,000	$6.185M	0.1%	$1.06	—	NOTE	88947EAM2
WU	WESTERN UNION	335,500	$6.16M	0.1%	$17.33	—	COM	959802109
—	0,625% VIAVI SOLUTIONS 15.08.2033	6,000,000	$5.632M	0.1%	$1.01	—	NOTE	46612JAF8
ABBV	ABBVIE	95,500	$5.196M	0.1%	$22.34	+90.3%	COM	00287Y109
HON	HONEYWELL INTERNATIONAL	51,250	$4.853M	0.1%	$74.72	-1.9%	COM	438516106
—	MICROSOFT CALL	1,000	$4.426M	0.1%	—	—	Call	594918904
—	3,000% MICRON TECHNOLOGY 15.11.2043	5,000,000	$4.302M	0.1%	$1.20	—	NOTE	595112AY9
—	1,000% SINA 01.12.2018	4,500,000	$4.268M	0.1%	$0.92	—	NOTE	82922RAD5
WMT	WAL-MART STORES	64,400	$4.176M	0.1%	$21.78	-13.2%	COM	931142103
—	0,500% SANDISK 15.10.2020	4,000,000	$3.88M	0.1%	$1.10	—	NOTE	80004CAF8
—	CISCO SYSTEMS CALL	1,300	$3.413M	0.1%	—	—	Call	17275R902
GLD	SPDR GOLD TRUST	30,000	$3.206M	0.1%	$139.15	—	GOLD SHS	78463V107
—	0,500% CITRIX SYSTEMS 15.04.2019	3,000,000	$3.164M	0.1%	$1.06	—	NOTE	177376AD2
TSM	TAIWAN SEMICONDUCTOR ADR	137,500	$2.853M	0.0%	$21.90	—	COM	874039100
—	MASTERCARD CALL	300	$2.704M	0.0%	—	—	Call	57636Q904
BAX	BAXTER INTERNATIONAL	73,000	$2.398M	0.0%	$29.52	+8.6%	COM	071813109
—	L BRANDS	24,750	$2.231M	0.0%	$80.77	—	COM	501797104
OXY	OCCIDENTAL PETROLEUM	24,300	$1.607M	0.0%	$56.57	-9.3%	COM	674599105
ROST	ROSS STORES	27,900	$1.352M	0.0%	$37.42	+23.2%	COM	778296103
—	MICHAEL KORS HOLDINGS CALL	300	$1.267M	0.0%	—	—	Call	G60754901
RDY	DR REDDY'S LABORATORIES ADR	18,000	$1.15M	0.0%	$49.94	—	COM	256135203
UGP	ULTRAPAR ADR	67,500	$1.129M	0.0%	$18.56	—	COM	90400P101
—	GRUPO SANTANDER MEXICO ADR	152,500	$1.119M	0.0%	$10.00	—	COM	40053C105
—	MARATHON OIL	72,000	$1.109M	0.0%	$15.40	—	COM	565849106
YUM	YUM! BRANDS	12,750	$1.019M	0.0%	$57.10	-12.7%	COM	988498101
BAP	CREDICORP	9,000	$957K	0.0%	$114.39	-18.5%	COM	G2519Y108
IFF	INTL FLAVORS & FRAGRANCES	7,500	$774K	0.0%	$80.81	+6.1%	COM	459506101
GWW	WW GRAINGER	3,550	$763K	0.0%	$204.46	-7.0%	COM	384802104
HDB	HDFC BANK ADR	11,200	$684K	0.0%	$61.07	—	COM	40415F101
—	KELLOGG	9,350	$622K	0.0%	$41.26	+4.9%	COM	487836108
NBIS	YANDEX	57,000	$612K	0.0%	$17.96	—	COM	N97284108
—	GOOGLE - CLASS C	1,002	$610K	0.0%	$575.23	—	COM	38259P706
BRK/A	BERKSHIRE HATHAWAY A	3	$586K	0.0%	$176616.40	+16.7%	COM	084670108
—	GOLDCORP	40,600	$508K	0.0%	$15.28	—	COM	380956409
—	GRUPO PAO DE ACUCAR ADR	38,000	$477K	0.0%	$38.33	—	COM	20440T201
—	BAXALTA	13,000	$410K	0.0%	$31.54	—	COM	07177M103
DE	DEERE & CO.	3,600	$266K	0.0%	$69.76	+5.2%	COM	244199105
T	AT & T	7,150	$233K	0.0%	$11.81	+3.9%	COM	00206R102