Historical Stock Holdings

Bill & Melinda Gates Foundation Trust

PeriodPortfolio ValueTop 20 holdings history (left to right)
2023   Q4$42.3 B MSFT
Microsoft Corp.
33.98% of portfolio
 		BRK.B
Berkshire Hathaway CL B
16.80% of portfolio
 		CNI
Canadian Natl Railway Co.
16.29% of portfolio
 		WM
Waste Management Inc.
14.92% of portfolio
 		CAT
Caterpillar Inc.
5.14% of portfolio
 		DE
Deere & Co.
3.36% of portfolio
 		ECL
Ecolab Inc.
2.45% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.39% of portfolio
 		WMT
Walmart Inc.
1.13% of portfolio
 		FDX
FedEx Corp.
0.92% of portfolio
 		WCN
Waste Connections
0.76% of portfolio
 		SDGR
SCHRODINGER Inc.
0.59% of portfolio
 		CCI
Crown Castle International Corp.
0.39% of portfolio
 		CPNG
Coupang Inc.
0.35% of portfolio
 		UPS
United Parcel Service
0.28% of portfolio
 		BUD
Anheuser-Busch InBev
0.26% of portfolio
 		MSGS
Madison Square Garden Sports Corp.
0.25% of portfolio
 		KHC
Kraft Heinz Co.
0.23% of portfolio
 		DHR
Danaher Corp.
0.20% of portfolio
 		HRL
Hormel Foods Corp.
0.17% of portfolio
2023   Q3$38.9 B MSFT
Microsoft Corp.
31.88% of portfolio
 		BRK.B
Berkshire Hathaway CL B
20.28% of portfolio
 		CNI
Canadian Natl Railway Co.
15.26% of portfolio
 		WM
Waste Management Inc.
13.80% of portfolio
 		CAT
Caterpillar Inc.
5.16% of portfolio
 		DE
Deere & Co.
3.80% of portfolio
 		ECL
Ecolab Inc.
2.27% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.25% of portfolio
 		WMT
Walmart Inc.
1.25% of portfolio
 		FDX
FedEx Corp.
1.04% of portfolio
 		WCN
Waste Connections
0.74% of portfolio
 		SDGR
SCHRODINGER Inc.
0.51% of portfolio
 		CPNG
Coupang Inc.
0.40% of portfolio
 		CCI
Crown Castle International Corp.
0.34% of portfolio
 		UPS
United Parcel Service
0.30% of portfolio
 		MSGS
Madison Square Garden Sports Corp.
0.27% of portfolio
 		DHR
Danaher Corp.
0.24% of portfolio
 		BUD
Anheuser-Busch InBev
0.24% of portfolio
 		KHC
Kraft Heinz Co.
0.23% of portfolio
 		HRL
Hormel Foods Corp.
0.21% of portfolio
2023   Q2$42.1 B MSFT
Microsoft Corp.
31.79% of portfolio
 		BRK.B
Berkshire Hathaway CL B
20.38% of portfolio
 		CNI
Canadian Natl Railway Co.
15.78% of portfolio
 		WM
Waste Management Inc.
14.53% of portfolio
 		CAT
Caterpillar Inc.
4.30% of portfolio
 		DE
Deere & Co.
3.77% of portfolio
 		ECL
Ecolab Inc.
2.32% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.23% of portfolio
 		WMT
Walmart Inc.
1.13% of portfolio
 		FDX
FedEx Corp.
0.90% of portfolio
 		SDGR
SCHRODINGER Inc.
0.83% of portfolio
 		WCN
Waste Connections
0.73% of portfolio
 		CPNG
Coupang Inc.
0.38% of portfolio
 		CCI
Crown Castle International Corp.
0.38% of portfolio
 		UPS
United Parcel Service
0.32% of portfolio
 		MSGS
Madison Square Garden Sports Corp.
0.26% of portfolio
 		BUD
Anheuser-Busch InBev
0.23% of portfolio
 		KHC
Kraft Heinz Co.
0.22% of portfolio
 		DHR
Danaher Corp.
0.21% of portfolio
 		HRL
Hormel Foods Corp.
0.21% of portfolio
2023   Q1$36.5 B MSFT
Microsoft Corp.
31.05% of portfolio
 		CNI
Canadian Natl Railway Co.
17.74% of portfolio
 		BRK.B
Berkshire Hathaway CL B
16.67% of portfolio
 		WM
Waste Management Inc.
15.77% of portfolio
 		CAT
Caterpillar Inc.
4.62% of portfolio
 		DE
Deere & Co.
4.44% of portfolio
 		ECL
Ecolab Inc.
2.37% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.37% of portfolio
 		WMT
Walmart Inc.
1.22% of portfolio
 		FDX
FedEx Corp.
0.96% of portfolio
 		WCN
Waste Connections
0.82% of portfolio
 		CCI
Crown Castle International Corp.
0.52% of portfolio
 		SDGR
SCHRODINGER Inc.
0.50% of portfolio
 		CPNG
Coupang Inc.
0.41% of portfolio
 		UPS
United Parcel Service
0.39% of portfolio
 		MSGS
Madison Square Garden Sports Corp.
0.32% of portfolio
 		KHC
Kraft Heinz Co.
0.28% of portfolio
 		DHR
Danaher Corp.
0.26% of portfolio
 		HRL
Hormel Foods Corp.
0.24% of portfolio
 		ONON
On Holding AG
0.04% of portfolio
2022   Q4$35.7 B MSFT
Microsoft Corp.
26.36% of portfolio
 		BRK.B
Berkshire Hathaway CL B
21.35% of portfolio
 		CNI
Canadian Natl Railway Co.
18.24% of portfolio
 		WM
Waste Management Inc.
15.47% of portfolio
 		CAT
Caterpillar Inc.
4.93% of portfolio
 		DE
Deere & Co.
4.70% of portfolio
 		ECL
Ecolab Inc.
2.13% of portfolio
 		WMT
Walmart Inc.
1.20% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.18% of portfolio
 		WCN
Waste Connections
0.80% of portfolio
 		FDX
FedEx Corp.
0.74% of portfolio
 		CCI
Crown Castle International Corp.
0.54% of portfolio
 		CPNG
Coupang Inc.
0.38% of portfolio
 		SDGR
SCHRODINGER Inc.
0.37% of portfolio
 		UPS
United Parcel Service
0.36% of portfolio
 		MSGS
Madison Square Garden Sports Corp.
0.30% of portfolio
 		KHC
Kraft Heinz Co.
0.30% of portfolio
 		DHR
Danaher Corp.
0.28% of portfolio
 		HRL
Hormel Foods Corp.
0.28% of portfolio
 		WEBR-OLD
Weber Inc.
0.06% of portfolio
2022   Q3$34 B MSFT
Microsoft Corp.
26.91% of portfolio
 		BRK.B
Berkshire Hathaway CL B
23.32% of portfolio
 		CNI
Canadian Natl Railway Co.
17.42% of portfolio
 		WM
Waste Management Inc.
16.61% of portfolio
 		DE
Deere & Co.
3.85% of portfolio
 		CAT
Caterpillar Inc.
3.55% of portfolio
 		ECL
Ecolab Inc.
2.07% of portfolio
 		WMT
Walmart Inc.
1.15% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.07% of portfolio
 		WCN
Waste Connections
0.85% of portfolio
 		FDX
FedEx Corp.
0.67% of portfolio
 		CCI
Crown Castle International Corp.
0.60% of portfolio
 		SDGR
SCHRODINGER Inc.
0.51% of portfolio
 		CPNG
Coupang Inc.
0.45% of portfolio
 		UPS
United Parcel Service
0.35% of portfolio
 		KHC
Kraft Heinz Co.
0.26% of portfolio
 		MSGS
Madison Square Garden Sports Corp.
0.24% of portfolio
 		WEBR-OLD
Weber Inc.
0.05% of portfolio
 		CVNA
Carvana Co.
0.03% of portfolio
 		ONON
On Holding AG
0.02% of portfolio
2022   Q2$17.7 B BRK.B
Berkshire Hathaway CL B
53.56% of portfolio
 		WM
Waste Management Inc.
16.12% of portfolio
 		CAT
Caterpillar Inc.
7.43% of portfolio
 		CNI
Canadian Natl Railway Co.
6.54% of portfolio
 		ECL
Ecolab Inc.
3.80% of portfolio
 		WMT
Walmart Inc.
2.08% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.94% of portfolio
 		DE
Deere & Co.
1.52% of portfolio
 		MSFT
Microsoft Corp.
1.37% of portfolio
 		CCI
Crown Castle International Corp.
1.35% of portfolio
 		SDGR
SCHRODINGER Inc.
1.04% of portfolio
 		UPS
United Parcel Service
0.76% of portfolio
 		FDX
FedEx Corp.
0.69% of portfolio
 		SAFM-OLD
Sanderson Farms
0.64% of portfolio
 		MSGS
Madison Square Garden Sports Corp.
0.51% of portfolio
 		CPNG
Coupang Inc.
0.41% of portfolio
 		WEBR-OLD
Weber Inc.
0.10% of portfolio
 		CVNA
Carvana Co.
0.07% of portfolio
 		ONON
On Holding AG
0.05% of portfolio
 		VRM
Vroom Inc.
0.02% of portfolio
2022   Q1$19.8 B BRK.B
Berkshire Hathaway CL B
51.22% of portfolio
 		WM
Waste Management Inc.
14.94% of portfolio
 		CNI
Canadian Natl Railway Co.
8.87% of portfolio
 		CAT
Caterpillar Inc.
8.29% of portfolio
 		ECL
Ecolab Inc.
3.90% of portfolio
 		WMT
Walmart Inc.
2.28% of portfolio
 		DE
Deere & Co.
1.89% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.73% of portfolio
 		MSFT
Microsoft Corp.
1.47% of portfolio
 		CCI
Crown Castle International Corp.
1.33% of portfolio
 		SDGR
SCHRODINGER Inc.
1.21% of portfolio
 		UPS
United Parcel Service
0.80% of portfolio
 		FDX
FedEx Corp.
0.63% of portfolio
 		CPNG
Coupang Inc.
0.51% of portfolio
 		SAFM-OLD
Sanderson Farms
0.50% of portfolio
 		MSGS
Madison Square Garden Sports Corp.
0.25% of portfolio
 		WEBR-OLD
Weber Inc.
0.12% of portfolio
 		ONON
On Holding AG
0.06% of portfolio
2021   Q4$23 B BRK.B
Berkshire Hathaway CL B
43.85% of portfolio
 		WM
Waste Management Inc.
13.54% of portfolio
 		CAT
Caterpillar Inc.
8.72% of portfolio
 		CNI
Canadian Natl Railway Co.
6.99% of portfolio
 		ECL
Ecolab Inc.
4.46% of portfolio
 		WMT
Walmart Inc.
4.36% of portfolio
 		CCI
Crown Castle International Corp.
4.15% of portfolio
 		MSFT
Microsoft Corp.
2.84% of portfolio
 		UPS
United Parcel Service
2.13% of portfolio
 		FDX
FedEx Corp.
1.68% of portfolio
 		DE
Deere & Co.
1.54% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.48% of portfolio
 		SDGR
SCHRODINGER Inc.
1.06% of portfolio
 		CP
Canadian Pacific Kansas City
0.78% of portfolio
 		CPNG
Coupang Inc.
0.73% of portfolio
 		SAFM-OLD
Sanderson Farms
0.44% of portfolio
 		TV
Grupo Televisa SA
0.29% of portfolio
 		GOOG
Alphabet Inc. CL C
0.27% of portfolio
 		GOOGL
Alphabet Inc.
0.27% of portfolio
 		MSGS
Madison Square Garden Sports Corp.
0.21% of portfolio
2021   Q3$23.2 B BRK.B
Berkshire Hathaway CL B
45.53% of portfolio
 		WM
Waste Management Inc.
12.00% of portfolio
 		CAT
Caterpillar Inc.
8.02% of portfolio
 		CNI
Canadian Natl Railway Co.
6.52% of portfolio
 		WMT
Walmart Inc.
4.16% of portfolio
 		ECL
Ecolab Inc.
3.93% of portfolio
 		MSFT
Microsoft Corp.
3.57% of portfolio
 		CCI
Crown Castle International Corp.
3.41% of portfolio
 		KSU
Kansas City Southern
2.56% of portfolio
 		UPS
United Parcel Service
1.79% of portfolio
 		SDGR
SCHRODINGER Inc.
1.65% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.51% of portfolio
 		DE
Deere & Co.
1.49% of portfolio
 		FDX
FedEx Corp.
1.41% of portfolio
 		TV
Grupo Televisa SA
0.77% of portfolio
 		CPNG
Coupang Inc.
0.69% of portfolio
 		GOOG
Alphabet Inc. CL C
0.25% of portfolio
 		GOOGL
Alphabet Inc.
0.25% of portfolio
 		MSGS
Madison Square Garden Sports Corp.
0.22% of portfolio
 		WEBR-OLD
Weber Inc.
0.19% of portfolio
2021   Q2$23.9 B BRK.B
Berkshire Hathaway CL B
50.87% of portfolio
 		WM
Waste Management Inc.
10.94% of portfolio
 		CAT
Caterpillar Inc.
9.26% of portfolio
 		CNI
Canadian Natl Railway Co.
6.15% of portfolio
 		WMT
Walmart Inc.
4.49% of portfolio
 		CCI
Crown Castle International Corp.
4.16% of portfolio
 		ECL
Ecolab Inc.
3.77% of portfolio
 		UPS
United Parcel Service
2.44% of portfolio
 		SDGR
SCHRODINGER Inc.
2.21% of portfolio
 		FDX
FedEx Corp.
1.87% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.38% of portfolio
 		TV
Grupo Televisa SA
1.01% of portfolio
 		CPNG
Coupang Inc.
1.00% of portfolio
 		GOOG
Alphabet Inc. CL C
0.23% of portfolio
 		GOOGL
Alphabet Inc.
0.22% of portfolio
2021   Q1$21 B BRK.B
Berkshire Hathaway CL B
45.23% of portfolio
 		WM
Waste Management Inc.
11.47% of portfolio
 		CAT
Caterpillar Inc.
11.24% of portfolio
 		CNI
Canadian Natl Railway Co.
7.70% of portfolio
 		WMT
Walmart Inc.
4.93% of portfolio
 		ECL
Ecolab Inc.
4.46% of portfolio
 		CCI
Crown Castle International Corp.
4.18% of portfolio
 		SDGR
SCHRODINGER Inc.
2.54% of portfolio
 		UPS
United Parcel Service
2.27% of portfolio
 		FDX
FedEx Corp.
2.02% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.37% of portfolio
 		CPNG
Coupang Inc.
1.35% of portfolio
 		TV
Grupo Televisa SA
0.71% of portfolio
 		GOOGL
Alphabet Inc.
0.21% of portfolio
 		GOOG
Alphabet Inc. CL C
0.21% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.06% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.05% of portfolio
2020   Q4$22.3 B BRK.B
Berkshire Hathaway CL B
43.71% of portfolio
 		WM
Waste Management Inc.
9.84% of portfolio
 		CAT
Caterpillar Inc.
9.18% of portfolio
 		CNI
Canadian Natl Railway Co.
8.35% of portfolio
 		WMT
Walmart Inc.
7.49% of portfolio
 		ECL
Ecolab Inc.
4.23% of portfolio
 		CCI
Crown Castle International Corp.
3.80% of portfolio
 		FDX
FedEx Corp.
3.52% of portfolio
 		UPS
United Parcel Service
3.41% of portfolio
 		SDGR
SCHRODINGER Inc.
2.47% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.28% of portfolio
 		TV
Grupo Televisa SA
0.62% of portfolio
 		AAPL
Apple Inc.
0.60% of portfolio
 		AMZN
Amazon.com Inc.
0.44% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.39% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.23% of portfolio
 		GOOGL
Alphabet Inc.
0.17% of portfolio
 		GOOG
Alphabet Inc. CL C
0.17% of portfolio
 		TWTR-OLD
Twitter Inc.
0.07% of portfolio
 		LILAK
Liberty LiLAC Group C
0.03% of portfolio
2020   Q3$22.1 B BRK.B
Berkshire Hathaway CL B
45.43% of portfolio
 		WM
Waste Management Inc.
9.55% of portfolio
 		CNI
Canadian Natl Railway Co.
8.26% of portfolio
 		CAT
Caterpillar Inc.
7.61% of portfolio
 		WMT
Walmart Inc.
7.35% of portfolio
 		CCI
Crown Castle International Corp.
4.02% of portfolio
 		ECL
Ecolab Inc.
3.95% of portfolio
 		FDX
FedEx Corp.
3.45% of portfolio
 		UPS
United Parcel Service
3.42% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.15% of portfolio
 		SDGR
SCHRODINGER Inc.
1.07% of portfolio
 		AAPL
Apple Inc.
1.05% of portfolio
 		AMZN
Amazon.com Inc.
0.86% of portfolio
 		BABA
Alibaba Group Holdings
0.74% of portfolio
 		TV
Grupo Televisa SA
0.47% of portfolio
 		BXP
Boston Properties
0.40% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.34% of portfolio
 		GOOGL
Alphabet Inc.
0.29% of portfolio
 		GOOG
Alphabet Inc. CL C
0.29% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.20% of portfolio
2020   Q2$17.9 B BRK.B
Berkshire Hathaway CL B
39.88% of portfolio
 		WM
Waste Management Inc.
11.05% of portfolio
 		CNI
Canadian Natl Railway Co.
8.49% of portfolio
 		CAT
Caterpillar Inc.
7.97% of portfolio
 		WMT
Walmart Inc.
7.78% of portfolio
 		CCI
Crown Castle International Corp.
5.00% of portfolio
 		ECL
Ecolab Inc.
4.86% of portfolio
 		SDGR
SCHRODINGER Inc.
3.58% of portfolio
 		UPS
United Parcel Service
2.82% of portfolio
 		FDX
FedEx Corp.
2.37% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.53% of portfolio
 		AAPL
Apple Inc.
1.02% of portfolio
 		AMZN
Amazon.com Inc.
0.93% of portfolio
 		BABA
Alibaba Group Holdings
0.67% of portfolio
 		TV
Grupo Televisa SA
0.50% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.44% of portfolio
 		GOOGL
Alphabet Inc.
0.34% of portfolio
 		GOOG
Alphabet Inc. CL C
0.34% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.26% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.07% of portfolio
2020   Q1$17.4 B BRK.B
Berkshire Hathaway CL B
47.32% of portfolio
 		WM
Waste Management Inc.
9.94% of portfolio
 		CNI
Canadian Natl Railway Co.
7.66% of portfolio
 		WMT
Walmart Inc.
7.60% of portfolio
 		CAT
Caterpillar Inc.
7.53% of portfolio
 		CCI
Crown Castle International Corp.
4.44% of portfolio
 		ECL
Ecolab Inc.
3.92% of portfolio
 		UPS
United Parcel Service
2.44% of portfolio
 		FDX
FedEx Corp.
2.11% of portfolio
 		SDGR
SCHRODINGER Inc.
1.73% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.44% of portfolio
 		AAPL
Apple Inc.
0.73% of portfolio
 		AMZN
Amazon.com Inc.
0.68% of portfolio
 		BABA
Alibaba Group Holdings
0.62% of portfolio
 		TV
Grupo Televisa SA
0.56% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.33% of portfolio
 		GOOGL
Alphabet Inc.
0.29% of portfolio
 		GOOG
Alphabet Inc. CL C
0.29% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.20% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.06% of portfolio
2019   Q4$21.4 B BRK.B
Berkshire Hathaway CL B
52.94% of portfolio
 		WM
Waste Management Inc.
9.94% of portfolio
 		CAT
Caterpillar Inc.
7.79% of portfolio
 		CNI
Canadian Natl Railway Co.
7.25% of portfolio
 		WMT
Walmart Inc.
6.46% of portfolio
 		ECL
Ecolab Inc.
3.95% of portfolio
 		CCI
Crown Castle International Corp.
3.55% of portfolio
 		UPS
United Parcel Service
2.48% of portfolio
 		FDX
FedEx Corp.
2.14% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.76% of portfolio
 		TV
Grupo Televisa SA
0.93% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.37% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.23% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.12% of portfolio
 		LILAK
Liberty LiLAC Group C
0.06% of portfolio
 		LILA
Liberty LiLAC Group A
0.03% of portfolio
2019   Q3$21.2 B BRK.B
Berkshire Hathaway CL B
53.82% of portfolio
 		WM
Waste Management Inc.
10.10% of portfolio
 		CNI
Canadian Natl Railway Co.
7.25% of portfolio
 		CAT
Caterpillar Inc.
6.70% of portfolio
 		WMT
Walmart Inc.
6.49% of portfolio
 		ECL
Ecolab Inc.
4.07% of portfolio
 		CCI
Crown Castle International Corp.
3.49% of portfolio
 		UPS
United Parcel Service
2.55% of portfolio
 		FDX
FedEx Corp.
2.07% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.77% of portfolio
 		TV
Grupo Televisa SA
0.78% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.41% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.25% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.10% of portfolio
 		BYND
Beyond Meat Inc.
0.07% of portfolio
 		LILAK
Liberty LiLAC Group C
0.05% of portfolio
 		LILA
Liberty LiLAC Group A
0.03% of portfolio
 		CNR-OLD
Cornerstone Building Brands Inc.
0.00% of portfolio
2019   Q2$19.8 B BRK.B
Berkshire Hathaway CL B
50.61% of portfolio
 		WM
Waste Management Inc.
10.84% of portfolio
 		CNI
Canadian Natl Railway Co.
7.99% of portfolio
 		CAT
Caterpillar Inc.
7.74% of portfolio
 		WMT
Walmart Inc.
6.47% of portfolio
 		ECL
Ecolab Inc.
4.35% of portfolio
 		CCI
Crown Castle International Corp.
3.51% of portfolio
 		FDX
FedEx Corp.
2.50% of portfolio
 		UPS
United Parcel Service
2.36% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.95% of portfolio
 		TV
Grupo Televisa SA
0.72% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.49% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.29% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.11% of portfolio
 		LILAK
Liberty LiLAC Group C
0.06% of portfolio
 		LILA
Liberty LiLAC Group A
0.03% of portfolio
2019   Q1$20.9 B BRK.B
Berkshire Hathaway CL B
50.09% of portfolio
 		WM
Waste Management Inc.
9.27% of portfolio
 		CNI
Canadian Natl Railway Co.
7.34% of portfolio
 		CAT
Caterpillar Inc.
7.30% of portfolio
 		WMT
Walmart Inc.
5.42% of portfolio
 		MSFT
Microsoft Corp.
4.52% of portfolio
 		ECL
Ecolab Inc.
3.69% of portfolio
 		CCI
Crown Castle International Corp.
3.27% of portfolio
 		FDX
FedEx Corp.
2.63% of portfolio
 		UPS
United Parcel Service
2.42% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.96% of portfolio
 		TV
Grupo Televisa SA
0.89% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.42% of portfolio
 		AN
AutoNation Inc.
0.32% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.25% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.11% of portfolio
 		LILAK
Liberty LiLAC Group C
0.06% of portfolio
 		LILA
Liberty LiLAC Group A
0.03% of portfolio
2018   Q4$21.9 B BRK.B
Berkshire Hathaway CL B
53.15% of portfolio
 		WM
Waste Management Inc.
7.56% of portfolio
 		MSFT
Microsoft Corp.
7.41% of portfolio
 		CAT
Caterpillar Inc.
6.53% of portfolio
 		CNI
Canadian Natl Railway Co.
5.79% of portfolio
 		WMT
Walmart Inc.
4.93% of portfolio
 		ECL
Ecolab Inc.
2.93% of portfolio
 		CCI
Crown Castle International Corp.
2.64% of portfolio
 		FDX
FedEx Corp.
2.23% of portfolio
 		UPS
United Parcel Service
2.01% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.72% of portfolio
 		WBA
Walgreens Boots Alliance
1.08% of portfolio
 		TV
Grupo Televisa SA
0.97% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.34% of portfolio
 		AN
AutoNation Inc.
0.31% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.21% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.11% of portfolio
 		LILAK
Liberty LiLAC Group C
0.04% of portfolio
 		LILA
Liberty LiLAC Group A
0.02% of portfolio
2018   Q3$25.8 B BRK.B
Berkshire Hathaway CL B
51.49% of portfolio
 		MSFT
Microsoft Corp.
10.63% of portfolio
 		CAT
Caterpillar Inc.
6.65% of portfolio
 		WM
Waste Management Inc.
6.52% of portfolio
 		CNI
Canadian Natl Railway Co.
5.96% of portfolio
 		WMT
Walmart Inc.
4.22% of portfolio
 		FDX
FedEx Corp.
2.82% of portfolio
 		ECL
Ecolab Inc.
2.65% of portfolio
 		CCI
Crown Castle International Corp.
2.30% of portfolio
 		UPS
United Parcel Service
2.05% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.47% of portfolio
 		TV
Grupo Televisa SA
1.16% of portfolio
 		WBA
Walgreens Boots Alliance
0.98% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.40% of portfolio
 		AN
AutoNation Inc.
0.31% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.24% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.07% of portfolio
 		LILAK
Liberty LiLAC Group C
0.05% of portfolio
 		LILA
Liberty LiLAC Group A
0.03% of portfolio
2018   Q2$22.1 B BRK.B
Berkshire Hathaway CL B
45.21% of portfolio
 		MSFT
Microsoft Corp.
14.27% of portfolio
 		CAT
Caterpillar Inc.
6.91% of portfolio
 		WM
Waste Management Inc.
6.85% of portfolio
 		CNI
Canadian Natl Railway Co.
6.33% of portfolio
 		WMT
Walmart Inc.
4.49% of portfolio
 		FDX
FedEx Corp.
3.11% of portfolio
 		ECL
Ecolab Inc.
2.77% of portfolio
 		CCI
Crown Castle International Corp.
2.60% of portfolio
 		UPS
United Parcel Service
2.17% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.59% of portfolio
 		TV
Grupo Televisa SA
1.45% of portfolio
 		WBA
Walgreens Boots Alliance
0.94% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.44% of portfolio
 		AN
AutoNation Inc.
0.42% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.26% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.10% of portfolio
 		LILAK
Liberty LiLAC Group C
0.06% of portfolio
 		LILA
Liberty LiLAC Group A
0.03% of portfolio
2018   Q1$24.5 B BRK.B
Berkshire Hathaway CL B
47.78% of portfolio
 		MSFT
Microsoft Corp.
14.93% of portfolio
 		CAT
Caterpillar Inc.
6.79% of portfolio
 		WM
Waste Management Inc.
6.41% of portfolio
 		CNI
Canadian Natl Railway Co.
5.12% of portfolio
 		WMT
Walmart Inc.
4.22% of portfolio
 		FDX
FedEx Corp.
2.97% of portfolio
 		ECL
Ecolab Inc.
2.45% of portfolio
 		CCI
Crown Castle International Corp.
2.39% of portfolio
 		UPS
United Parcel Service
1.94% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.69% of portfolio
 		TV
Grupo Televisa SA
1.10% of portfolio
 		WBA
Walgreens Boots Alliance
0.93% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.45% of portfolio
 		AN
AutoNation Inc.
0.36% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.27% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.11% of portfolio
 		LILAK
Liberty LiLAC Group C
0.05% of portfolio
 		LILA
Liberty LiLAC Group A
0.03% of portfolio
2017   Q4$26.5 B BRK.B
Berkshire Hathaway CL B
47.61% of portfolio
 		MSFT
Microsoft Corp.
15.51% of portfolio
 		CAT
Caterpillar Inc.
6.70% of portfolio
 		WM
Waste Management Inc.
6.08% of portfolio
 		CNI
Canadian Natl Railway Co.
5.34% of portfolio
 		WMT
Walmart Inc.
4.33% of portfolio
 		FDX
FedEx Corp.
2.85% of portfolio
 		CCI
Crown Castle International Corp.
2.24% of portfolio
 		ECL
Ecolab Inc.
2.21% of portfolio
 		UPS
United Parcel Service
2.04% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.63% of portfolio
 		TV
Grupo Televisa SA
1.19% of portfolio
 		WBA
Walgreens Boots Alliance
0.95% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.47% of portfolio
 		AN
AutoNation Inc.
0.37% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.29% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.12% of portfolio
 		LILAK
Liberty LiLAC Group C
0.05% of portfolio
 		LILA
Liberty LiLAC Group A
0.03% of portfolio
2017   Q3$25.8 B BRK.B
Berkshire Hathaway CL B
48.82% of portfolio
 		MSFT
Microsoft Corp.
16.20% of portfolio
 		WM
Waste Management Inc.
5.66% of portfolio
 		CNI
Canadian Natl Railway Co.
5.51% of portfolio
 		CAT
Caterpillar Inc.
5.45% of portfolio
 		WMT
Walmart Inc.
3.52% of portfolio
 		FDX
FedEx Corp.
2.65% of portfolio
 		ECL
Ecolab Inc.
2.18% of portfolio
 		UPS
United Parcel Service
2.11% of portfolio
 		CCI
Crown Castle International Corp.
2.07% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.86% of portfolio
 		TV
Grupo Televisa SA
1.62% of portfolio
 		WBA
Walgreens Boots Alliance
1.04% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.46% of portfolio
 		AN
AutoNation Inc.
0.35% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.28% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.12% of portfolio
 		LILAK
Liberty LiLAC Group C
0.06% of portfolio
 		LILA
Liberty LiLAC Group A
0.03% of portfolio
2017   Q2$23.1 B BRK.B
Berkshire Hathaway CL B
43.53% of portfolio
 		MSFT
Microsoft Corp.
19.10% of portfolio
 		CNI
Canadian Natl Railway Co.
6.01% of portfolio
 		WM
Waste Management Inc.
5.92% of portfolio
 		CAT
Caterpillar Inc.
5.24% of portfolio
 		WMT
Walmart Inc.
3.80% of portfolio
 		FDX
FedEx Corp.
2.85% of portfolio
 		ECL
Ecolab Inc.
2.51% of portfolio
 		CCI
Crown Castle International Corp.
2.31% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.28% of portfolio
 		UPS
United Parcel Service
2.17% of portfolio
 		TV
Grupo Televisa SA
1.78% of portfolio
 		WBA
Walgreens Boots Alliance
1.18% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.49% of portfolio
 		AN
AutoNation Inc.
0.35% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.29% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.10% of portfolio
 		LILAK
Liberty LiLAC Group C
0.06% of portfolio
 		LILA
Liberty LiLAC Group A
0.03% of portfolio
2017   Q1$18.9 B BRK.B
Berkshire Hathaway CL B
56.86% of portfolio
 		WM
Waste Management Inc.
7.20% of portfolio
 		CNI
Canadian Natl Railway Co.
6.71% of portfolio
 		CAT
Caterpillar Inc.
5.54% of portfolio
 		WMT
Walmart Inc.
4.43% of portfolio
 		FDX
FedEx Corp.
3.13% of portfolio
 		ECL
Ecolab Inc.
2.90% of portfolio
 		CCI
Crown Castle International Corp.
2.67% of portfolio
 		UPS
United Parcel Service
2.57% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.36% of portfolio
 		TV
Grupo Televisa SA
2.32% of portfolio
 		WBA
Walgreens Boots Alliance
1.53% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.68% of portfolio
 		AN
AutoNation Inc.
0.43% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.40% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.13% of portfolio
 		LILAK
Liberty LiLAC Group C
0.08% of portfolio
 		LILA
Liberty LiLAC Group A
0.04% of portfolio
2016   Q4$19 B BRK.B
Berkshire Hathaway CL B
59.43% of portfolio
 		WM
Waste Management Inc.
6.95% of portfolio
 		CNI
Canadian Natl Railway Co.
6.07% of portfolio
 		CAT
Caterpillar Inc.
5.49% of portfolio
 		WMT
Walmart Inc.
4.22% of portfolio
 		FDX
FedEx Corp.
2.96% of portfolio
 		UPS
United Parcel Service
2.73% of portfolio
 		ECL
Ecolab Inc.
2.69% of portfolio
 		CCI
Crown Castle International Corp.
2.43% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.08% of portfolio
 		TV
Grupo Televisa SA
1.85% of portfolio
 		WBA
Walgreens Boots Alliance
1.51% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.57% of portfolio
 		AN
AutoNation Inc.
0.49% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.34% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.09% of portfolio
 		LILAK
Liberty LiLAC Group C
0.07% of portfolio
 		LILA
Liberty LiLAC Group A
0.04% of portfolio
2016   Q3$18.5 B BRK.B
Berkshire Hathaway CL B
58.21% of portfolio
 		WM
Waste Management Inc.
6.44% of portfolio
 		CNI
Canadian Natl Railway Co.
6.07% of portfolio
 		CAT
Caterpillar Inc.
5.42% of portfolio
 		WMT
Walmart Inc.
4.53% of portfolio
 		ECL
Ecolab Inc.
2.88% of portfolio
 		FDX
FedEx Corp.
2.86% of portfolio
 		CCI
Crown Castle International Corp.
2.72% of portfolio
 		UPS
United Parcel Service
2.68% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.53% of portfolio
 		TV
Grupo Televisa SA
2.35% of portfolio
 		WBA
Walgreens Boots Alliance
1.52% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.65% of portfolio
 		AN
AutoNation Inc.
0.50% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.39% of portfolio
 		LILAK
Liberty LiLAC Group C
0.10% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.09% of portfolio
 		LILA
Liberty LiLAC Group A
0.06% of portfolio
2016   Q2$16.8 B BRK.B
Berkshire Hathaway CL B
55.42% of portfolio
 		WM
Waste Management Inc.
7.34% of portfolio
 		CNI
Canadian Natl Railway Co.
6.01% of portfolio
 		CAT
Caterpillar Inc.
5.08% of portfolio
 		WMT
Walmart Inc.
5.04% of portfolio
 		CCI
Crown Castle International Corp.
3.22% of portfolio
 		ECL
Ecolab Inc.
3.08% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
3.07% of portfolio
 		UPS
United Parcel Service
2.90% of portfolio
 		FDX
FedEx Corp.
2.73% of portfolio
 		TV
Grupo Televisa SA
2.61% of portfolio
 		WBA
Walgreens Boots Alliance
1.72% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.62% of portfolio
 		AN
AutoNation Inc.
0.53% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.37% of portfolio
 		LILAK
Liberty LiLAC Group C
0.12% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.09% of portfolio
 		LILA
Liberty LiLAC Group A
0.07% of portfolio
2016   Q1$17.2 B BRK.B
Berkshire Hathaway CL B
57.27% of portfolio
 		WM
Waste Management Inc.
6.40% of portfolio
 		CNI
Canadian Natl Railway Co.
6.22% of portfolio
 		CAT
Caterpillar Inc.
5.01% of portfolio
 		WMT
Walmart Inc.
4.62% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
3.00% of portfolio
 		FDX
FedEx Corp.
2.86% of portfolio
 		ECL
Ecolab Inc.
2.83% of portfolio
 		UPS
United Parcel Service
2.78% of portfolio
 		TV
Grupo Televisa SA
2.70% of portfolio
 		CCI
Crown Castle International Corp.
2.68% of portfolio
 		WBA
Walgreens Boots Alliance
1.70% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.80% of portfolio
 		AN
AutoNation Inc.
0.52% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.47% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.07% of portfolio
 		LILAK
Liberty LiLAC Group C
0.04% of portfolio
 		LILA
Liberty LiLAC Group A
0.02% of portfolio
2015   Q4$16.7 B BRK.B
Berkshire Hathaway CL B
58.94% of portfolio
 		WM
Waste Management Inc.
5.97% of portfolio
 		CNI
Canadian Natl Railway Co.
5.74% of portfolio
 		CAT
Caterpillar Inc.
4.59% of portfolio
 		WMT
Walmart Inc.
4.27% of portfolio
 		ECL
Ecolab Inc.
3.00% of portfolio
 		CCI
Crown Castle International Corp.
2.77% of portfolio
 		TV
Grupo Televisa SA
2.76% of portfolio
 		FDX
FedEx Corp.
2.70% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.64% of portfolio
 		UPS
United Parcel Service
2.61% of portfolio
 		WBA
Walgreens Boots Alliance
1.78% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.89% of portfolio
 		AN
AutoNation Inc.
0.68% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.54% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.06% of portfolio
 		LILAK
Liberty LiLAC Group C
0.05% of portfolio
 		LILA
Liberty LiLAC Group A
0.03% of portfolio
2015   Q3$17.2 B BRK.B
Berkshire Hathaway CL B
60.05% of portfolio
 		CNI
Canadian Natl Railway Co.
5.64% of portfolio
 		WM
Waste Management Inc.
5.38% of portfolio
 		WMT
Walmart Inc.
4.36% of portfolio
 		CAT
Caterpillar Inc.
4.27% of portfolio
 		ECL
Ecolab Inc.
2.78% of portfolio
 		UPS
United Parcel Service
2.59% of portfolio
 		TV
Grupo Televisa SA
2.55% of portfolio
 		FDX
FedEx Corp.
2.53% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.50% of portfolio
 		CCI
Crown Castle International Corp.
2.44% of portfolio
 		WBA
Walgreens Boots Alliance
1.68% of portfolio
 		BP
BP plc
1.09% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.87% of portfolio
 		AN
AutoNation Inc.
0.64% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.53% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.05% of portfolio
 		LILAK
Liberty LiLAC Group C
0.04% of portfolio
 		LILA
Liberty LiLAC Group A
0.02% of portfolio
2015   Q2$17 B BRK.B
Berkshire Hathaway CL B
54.87% of portfolio
 		CNI
Canadian Natl Railway Co.
5.81% of portfolio
 		CAT
Caterpillar Inc.
5.61% of portfolio
 		WM
Waste Management Inc.
5.07% of portfolio
 		WMT
Walmart Inc.
4.83% of portfolio
 		TV
Grupo Televisa SA
3.85% of portfolio
 		FDX
FedEx Corp.
3.03% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.90% of portfolio
 		ECL
Ecolab Inc.
2.90% of portfolio
 		UPS
United Parcel Service
2.58% of portfolio
 		CCI
Crown Castle International Corp.
2.52% of portfolio
 		BP
BP plc
1.76% of portfolio
 		WBA
Walgreens Boots Alliance
1.72% of portfolio
 		LBTYK
Liberty Global Ltd CL C
1.08% of portfolio
 		AN
AutoNation Inc.
0.70% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.67% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.09% of portfolio
2015   Q1$18.6 B BRK.B
Berkshire Hathaway CL B
57.02% of portfolio
 		CNI
Canadian Natl Railway Co.
6.15% of portfolio
 		WM
Waste Management Inc.
5.42% of portfolio
 		WMT
Walmart Inc.
5.12% of portfolio
 		CAT
Caterpillar Inc.
4.84% of portfolio
 		TV
Grupo Televisa SA
2.99% of portfolio
 		FDX
FedEx Corp.
2.69% of portfolio
 		ECL
Ecolab Inc.
2.68% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.66% of portfolio
 		CCI
Crown Castle International Corp.
2.36% of portfolio
 		UPS
United Parcel Service
2.35% of portfolio
 		WBA
Walgreens Boots Alliance
1.58% of portfolio
 		BP
BP plc
1.55% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.97% of portfolio
 		AN
AutoNation Inc.
0.66% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.59% of portfolio
 		RSG
Republic Services
0.29% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.08% of portfolio
2014   Q4$20 B BRK.B
Berkshire Hathaway CL B
59.04% of portfolio
 		CNI
Canadian Natl Railway Co.
5.90% of portfolio
 		CAT
Caterpillar Inc.
5.15% of portfolio
 		WMT
Walmart Inc.
4.98% of portfolio
 		WM
Waste Management Inc.
4.78% of portfolio
 		TV
Grupo Televisa SA
2.88% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.69% of portfolio
 		FDX
FedEx Corp.
2.63% of portfolio
 		UPS
United Parcel Service
2.52% of portfolio
 		ECL
Ecolab Inc.
2.28% of portfolio
 		CCI
Crown Castle International Corp.
2.10% of portfolio
 		BP
BP plc
1.41% of portfolio
 		WBA
Walgreens Boots Alliance
1.32% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.85% of portfolio
 		AN
AutoNation Inc.
0.57% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.53% of portfolio
 		RSG
Republic Services
0.27% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.08% of portfolio
 		DMND
Diamond Foods Inc.
0.00% of portfolio
2014   Q3$21.7 B BRK.B
Berkshire Hathaway CL B
53.21% of portfolio
 		CNI
Canadian Natl Railway Co.
5.60% of portfolio
 		CAT
Caterpillar Inc.
5.14% of portfolio
 		MCD
McDonald's Corp.
4.75% of portfolio
 		KO
Coca Cola Co.
4.21% of portfolio
 		WMT
Walmart Inc.
4.09% of portfolio
 		WM
Waste Management Inc.
4.08% of portfolio
 		XOM
Exxon Mobil Corp.
3.53% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.88% of portfolio
 		TV
Grupo Televisa SA
2.63% of portfolio
 		ECL
Ecolab Inc.
2.31% of portfolio
 		FDX
FedEx Corp.
2.25% of portfolio
 		CCI
Crown Castle International Corp.
1.98% of portfolio
 		BP
BP plc
1.50% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.67% of portfolio
 		AN
AutoNation Inc.
0.44% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.42% of portfolio
 		RSG
Republic Services
0.24% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.08% of portfolio
2014   Q2$20 B BRK.B
Berkshire Hathaway CL B
45.66% of portfolio
 		KO
Coca Cola Co.
7.21% of portfolio
 		CAT
Caterpillar Inc.
6.13% of portfolio
 		CNI
Canadian Natl Railway Co.
5.58% of portfolio
 		MCD
McDonald's Corp.
5.48% of portfolio
 		WMT
Walmart Inc.
4.36% of portfolio
 		WM
Waste Management Inc.
4.17% of portfolio
 		XOM
Exxon Mobil Corp.
4.11% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
3.54% of portfolio
 		TV
Grupo Televisa SA
2.90% of portfolio
 		ECL
Ecolab Inc.
2.43% of portfolio
 		FDX
FedEx Corp.
2.29% of portfolio
 		CCI
Crown Castle International Corp.
1.98% of portfolio
 		BP
BP plc
1.93% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.75% of portfolio
 		AN
AutoNation Inc.
0.57% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.47% of portfolio
 		RSG
Republic Services
0.26% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.17% of portfolio
 		TTF
Thai Fund Inc.
0.01% of portfolio
2014   Q1$19.8 B BRK.B
Berkshire Hathaway CL B
48.61% of portfolio
 		KO
Coca Cola Co.
6.64% of portfolio
 		CAT
Caterpillar Inc.
5.65% of portfolio
 		MCD
McDonald's Corp.
5.38% of portfolio
 		CNI
Canadian Natl Railway Co.
4.86% of portfolio
 		WMT
Walmart Inc.
4.48% of portfolio
 		XOM
Exxon Mobil Corp.
4.02% of portfolio
 		WM
Waste Management Inc.
3.96% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
3.31% of portfolio
 		TV
Grupo Televisa SA
2.84% of portfolio
 		ECL
Ecolab Inc.
2.38% of portfolio
 		FDX
FedEx Corp.
2.02% of portfolio
 		CCI
Crown Castle International Corp.
1.99% of portfolio
 		BP
BP plc
1.78% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.73% of portfolio
 		AN
AutoNation Inc.
0.51% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.45% of portfolio
 		RSG
Republic Services
0.23% of portfolio
 		ARCO
Arcos Dorados Holdings Inc.
0.16% of portfolio
 		TTF
Thai Fund Inc.
0.01% of portfolio
2013   Q4$20.1 B BRK.B
Berkshire Hathaway CL B
48.51% of portfolio
 		KO
Coca Cola Co.
7.01% of portfolio
 		MCD
McDonald's Corp.
5.26% of portfolio
 		CAT
Caterpillar Inc.
5.10% of portfolio
 		CNI
Canadian Natl Railway Co.
4.87% of portfolio
 		WMT
Walmart Inc.
4.55% of portfolio
 		WM
Waste Management Inc.
4.17% of portfolio
 		XOM
Exxon Mobil Corp.
4.11% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
3.77% of portfolio
 		TV
Grupo Televisa SA
2.55% of portfolio
 		ECL
Ecolab Inc.
2.27% of portfolio
 		FDX
FedEx Corp.
2.17% of portfolio
 		CCI
Crown Castle International Corp.
1.95% of portfolio
 		BP
BP plc
1.77% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.94% of portfolio
 		AN
AutoNation Inc.
0.47% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.30% of portfolio
 		RSG
Republic Services
0.22% of portfolio
2013   Q3$19.5 B BRK.B
Berkshire Hathaway CL B
50.75% of portfolio
 		KO
Coca Cola Co.
6.62% of portfolio
 		MCD
McDonald's Corp.
4.88% of portfolio
 		CAT
Caterpillar Inc.
4.61% of portfolio
 		CNI
Canadian Natl Railway Co.
4.46% of portfolio
 		WMT
Walmart Inc.
4.22% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
4.02% of portfolio
 		WM
Waste Management Inc.
3.95% of portfolio
 		XOM
Exxon Mobil Corp.
3.38% of portfolio
 		TV
Grupo Televisa SA
2.42% of portfolio
 		ECL
Ecolab Inc.
2.22% of portfolio
 		CCI
Crown Castle International Corp.
2.00% of portfolio
 		FDX
FedEx Corp.
1.77% of portfolio
 		BP
BP plc
1.56% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.86% of portfolio
 		PG
Procter & Gamble
0.58% of portfolio
 		APD
Air Products & Chemicals
0.53% of portfolio
 		AN
AutoNation Inc.
0.51% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.27% of portfolio
 		RSG
Republic Services
0.23% of portfolio
2013   Q2$17.8 B BRK.B
Berkshire Hathaway CL B
46.90% of portfolio
 		KO
Coca Cola Co.
7.66% of portfolio
 		MCD
McDonald's Corp.
5.49% of portfolio
 		CAT
Caterpillar Inc.
4.99% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
4.90% of portfolio
 		CNI
Canadian Natl Railway Co.
4.68% of portfolio
 		WMT
Walmart Inc.
4.65% of portfolio
 		WM
Waste Management Inc.
4.22% of portfolio
 		XOM
Exxon Mobil Corp.
3.88% of portfolio
 		TV
Grupo Televisa SA
2.36% of portfolio
 		CCI
Crown Castle International Corp.
2.17% of portfolio
 		ECL
Ecolab Inc.
2.09% of portfolio
 		FDX
FedEx Corp.
1.68% of portfolio
 		BP
BP plc
1.67% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.88% of portfolio
 		PG
Procter & Gamble
0.65% of portfolio
 		AN
AutoNation Inc.
0.46% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.27% of portfolio
 		RSG
Republic Services
0.26% of portfolio
 		TM
Toyota Motor Corp.
0.10% of portfolio
2013   Q1$18.1 B BRK.B
Berkshire Hathaway CL B
46.48% of portfolio
 		KO
Coca Cola Co.
7.59% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
5.62% of portfolio
 		MCD
McDonald's Corp.
5.43% of portfolio
 		CAT
Caterpillar Inc.
4.93% of portfolio
 		CNI
Canadian Natl Railway Co.
4.74% of portfolio
 		WMT
Walmart Inc.
4.59% of portfolio
 		WM
Waste Management Inc.
4.03% of portfolio
 		XOM
Exxon Mobil Corp.
3.80% of portfolio
 		TV
Grupo Televisa SA
2.48% of portfolio
 		CCI
Crown Castle International Corp.
2.05% of portfolio
 		ECL
Ecolab Inc.
1.93% of portfolio
 		BP
BP plc
1.67% of portfolio
 		FDX
FedEx Corp.
1.64% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.86% of portfolio
 		PG
Procter & Gamble
0.64% of portfolio
 		AN
AutoNation Inc.
0.46% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.27% of portfolio
 		RSG
Republic Services
0.25% of portfolio
 		FMX
Fomento Economico Mexicano
0.14% of portfolio
2012   Q4$16.8 B BRK.B
Berkshire Hathaway CL B
46.53% of portfolio
 		KO
Coca Cola Co.
7.34% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
5.52% of portfolio
 		CAT
Caterpillar Inc.
5.47% of portfolio
 		MCD
McDonald's Corp.
5.19% of portfolio
 		CNI
Canadian Natl Railway Co.
4.64% of portfolio
 		WMT
Walmart Inc.
4.51% of portfolio
 		XOM
Exxon Mobil Corp.
3.94% of portfolio
 		WM
Waste Management Inc.
3.74% of portfolio
 		TV
Grupo Televisa SA
2.67% of portfolio
 		CCI
Crown Castle International Corp.
2.29% of portfolio
 		ECL
Ecolab Inc.
1.87% of portfolio
 		BP
BP plc
1.77% of portfolio
 		FDX
FedEx Corp.
1.65% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.80% of portfolio
 		PG
Procter & Gamble
0.61% of portfolio
 		AN
AutoNation Inc.
0.45% of portfolio
 		LBTYK
Liberty Global Ltd CL C
0.25% of portfolio
 		RSG
Republic Services
0.24% of portfolio
 		FMX
Fomento Economico Mexicano
0.13% of portfolio
2012   Q3$17.3 B BRK.B
Berkshire Hathaway CL B
47.49% of portfolio
 		MCD
McDonald's Corp.
5.23% of portfolio
 		KO
Coca Cola Co.
5.11% of portfolio
 		CAT
Caterpillar Inc.
5.09% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
4.63% of portfolio
 		WMT
Walmart Inc.
4.51% of portfolio
 		CNI
Canadian Natl Railway Co.
4.36% of portfolio
 		XOM
Exxon Mobil Corp.
4.03% of portfolio
 		COST
Costco Co.
3.54% of portfolio
 		WM
Waste Management Inc.
3.45% of portfolio
 		TV
Grupo Televisa SA
2.29% of portfolio
 		CCI
Crown Castle International Corp.
1.97% of portfolio
 		BP
BP plc
1.74% of portfolio
 		ECL
Ecolab Inc.
1.63% of portfolio
 		FDX
FedEx Corp.
1.48% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.74% of portfolio
 		CSX
CSX Corp.
0.57% of portfolio
 		AN
AutoNation Inc.
0.48% of portfolio
 		EXPD
Expeditors Int'l
0.39% of portfolio
 		CX
Cemex
0.32% of portfolio
2012   Q2$15.6 B BRK.B
Berkshire Hathaway CL B
43.26% of portfolio
 		KO
Coca Cola Co.
5.84% of portfolio
 		MCD
McDonald's Corp.
5.59% of portfolio
 		CAT
Caterpillar Inc.
5.48% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
5.20% of portfolio
 		WMT
Walmart Inc.
4.73% of portfolio
 		CNI
Canadian Natl Railway Co.
4.62% of portfolio
 		XOM
Exxon Mobil Corp.
4.18% of portfolio
 		WM
Waste Management Inc.
3.98% of portfolio
 		COST
Costco Co.
3.72% of portfolio
 		TV
Grupo Televisa SA
2.32% of portfolio
 		CCI
Crown Castle International Corp.
2.00% of portfolio
 		ECL
Ecolab Inc.
1.91% of portfolio
 		BP
BP plc
1.85% of portfolio
 		FDX
FedEx Corp.
1.77% of portfolio
 		CSX
CSX Corp.
0.69% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.67% of portfolio
 		AN
AutoNation Inc.
0.54% of portfolio
 		EXPD
Expeditors Int'l
0.46% of portfolio
 		CX
Cemex
0.28% of portfolio
2012   Q1$15.8 B BRK.B
Berkshire Hathaway CL B
44.33% of portfolio
 		CAT
Caterpillar Inc.
6.81% of portfolio
 		MCD
McDonald's Corp.
6.14% of portfolio
 		KO
Coca Cola Co.
5.48% of portfolio
 		CNI
Canadian Natl Railway Co.
4.31% of portfolio
 		XOM
Exxon Mobil Corp.
4.20% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
4.17% of portfolio
 		WM
Waste Management Inc.
4.13% of portfolio
 		WMT
Walmart Inc.
3.78% of portfolio
 		COST
Costco Co.
3.53% of portfolio
 		TV
Grupo Televisa SA
2.25% of portfolio
 		BP
BP plc
2.03% of portfolio
 		CCI
Crown Castle International Corp.
1.80% of portfolio
 		FDX
FedEx Corp.
1.76% of portfolio
 		ECL
Ecolab Inc.
1.71% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.67% of portfolio
 		CSX
CSX Corp.
0.65% of portfolio
 		EXPD
Expeditors Int'l
0.54% of portfolio
 		AN
AutoNation Inc.
0.52% of portfolio
 		CX
Cemex
0.31% of portfolio
2011   Q4$15.3 B BRK.B
Berkshire Hathaway CL B
45.36% of portfolio
 		MCD
McDonald's Corp.
6.46% of portfolio
 		CAT
Caterpillar Inc.
5.96% of portfolio
 		KO
Coca Cola Co.
5.33% of portfolio
 		CNI
Canadian Natl Railway Co.
4.39% of portfolio
 		XOM
Exxon Mobil Corp.
4.22% of portfolio
 		WM
Waste Management Inc.
3.97% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
3.86% of portfolio
 		WMT
Walmart Inc.
3.80% of portfolio
 		COST
Costco Co.
3.33% of portfolio
 		TV
Grupo Televisa SA
2.32% of portfolio
 		BP
BP plc
1.99% of portfolio
 		FDX
FedEx Corp.
1.65% of portfolio
 		ECL
Ecolab Inc.
1.65% of portfolio
 		CCI
Crown Castle International Corp.
1.56% of portfolio
 		AN
AutoNation Inc.
1.22% of portfolio
 		CSX
CSX Corp.
0.66% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.57% of portfolio
 		EXPD
Expeditors Int'l
0.49% of portfolio
 		RSG
Republic Services
0.24% of portfolio
2011   Q3$14.7 B BRK.B
Berkshire Hathaway CL B
46.61% of portfolio
 		MCD
McDonald's Corp.
5.91% of portfolio
 		KO
Coca Cola Co.
5.38% of portfolio
 		CAT
Caterpillar Inc.
5.08% of portfolio
 		WM
Waste Management Inc.
4.14% of portfolio
 		CNI
Canadian Natl Railway Co.
3.89% of portfolio
 		XOM
Exxon Mobil Corp.
3.79% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
3.76% of portfolio
 		WMT
Walmart Inc.
3.45% of portfolio
 		COST
Costco Co.
3.43% of portfolio
 		AN
AutoNation Inc.
2.41% of portfolio
 		TV
Grupo Televisa SA
2.12% of portfolio
 		BP
BP plc
1.75% of portfolio
 		CCI
Crown Castle International Corp.
1.48% of portfolio
 		ECL
Ecolab Inc.
1.46% of portfolio
 		FDX
FedEx Corp.
1.40% of portfolio
 		CSX
CSX Corp.
0.61% of portfolio
 		AMX
America Movil SAB de CV
0.60% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.52% of portfolio
 		EXPD
Expeditors Int'l
0.51% of portfolio
2011   Q2$15.2 B BRK.B
Berkshire Hathaway CL B
41.80% of portfolio
 		CAT
Caterpillar Inc.
6.74% of portfolio
 		MCD
McDonald's Corp.
5.49% of portfolio
 		KO
Coca Cola Co.
5.19% of portfolio
 		WM
Waste Management Inc.
4.58% of portfolio
 		CNI
Canadian Natl Railway Co.
4.52% of portfolio
 		XOM
Exxon Mobil Corp.
4.10% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
3.81% of portfolio
 		WMT
Walmart Inc.
3.42% of portfolio
 		COST
Costco Co.
3.29% of portfolio
 		TV
Grupo Televisa SA
2.74% of portfolio
 		AN
AutoNation Inc.
2.61% of portfolio
 		BP
BP plc
2.08% of portfolio
 		FDX
FedEx Corp.
1.89% of portfolio
 		ECL
Ecolab Inc.
1.62% of portfolio
 		CCI
Crown Castle International Corp.
1.44% of portfolio
 		CSX
CSX Corp.
0.83% of portfolio
 		AMX
America Movil SAB de CV
0.71% of portfolio
 		LBTYA
Liberty Global Ltd CL A
0.63% of portfolio
 		EXPD
Expeditors Int'l
0.62% of portfolio
2011   Q1$15.5 B BRK.B
Berkshire Hathaway CL B
46.06% of portfolio
 		CAT
Caterpillar Inc.
6.87% of portfolio
 		KO
Coca Cola Co.
4.99% of portfolio
 		MCD
McDonald's Corp.
4.83% of portfolio
 		WM
Waste Management Inc.
4.48% of portfolio
 		CNI
Canadian Natl Railway Co.
4.15% of portfolio
 		XOM
Exxon Mobil Corp.
4.14% of portfolio
 		WMT
Walmart Inc.
3.27% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
3.08% of portfolio
 		COST
Costco Co.
2.89% of portfolio
 		TV
Grupo Televisa SA
2.58% of portfolio
 		AN
AutoNation Inc.
2.46% of portfolio
 		BP
BP plc
2.03% of portfolio
 		FDX
FedEx Corp.
1.82% of portfolio
 		CCI
Crown Castle International Corp.
1.46% of portfolio
 		ECL
Ecolab Inc.
1.43% of portfolio
 		CSX
CSX Corp.
0.81% of portfolio
 		AMX
America Movil SAB de CV
0.75% of portfolio
 		EXPD
Expeditors Int'l
0.60% of portfolio
 		MTB
M&T Bank Corp.
0.28% of portfolio
2010   Q4$15.1 B BRK.B
Berkshire Hathaway CL B
47.28% of portfolio
 		CAT
Caterpillar Inc.
5.93% of portfolio
 		KO
Coca Cola Co.
5.07% of portfolio
 		MCD
McDonald's Corp.
5.01% of portfolio
 		WM
Waste Management Inc.
4.54% of portfolio
 		CNI
Canadian Natl Railway Co.
3.76% of portfolio
 		XOM
Exxon Mobil Corp.
3.69% of portfolio
 		WMT
Walmart Inc.
3.47% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
3.06% of portfolio
 		COST
Costco Co.
2.92% of portfolio
 		TV
Grupo Televisa SA
2.81% of portfolio
 		BP
BP plc
2.08% of portfolio
 		AN
AutoNation Inc.
2.01% of portfolio
 		FDX
FedEx Corp.
1.86% of portfolio
 		CCI
Crown Castle International Corp.
1.54% of portfolio
 		ECL
Ecolab Inc.
1.42% of portfolio
 		AMX
America Movil SAB de CV
0.76% of portfolio
 		CSX
CSX Corp.
0.68% of portfolio
 		EXPD
Expeditors Int'l
0.67% of portfolio
 		MTB
M&T Bank Corp.
0.29% of portfolio
2010   Q3$14.6 B BRK.B
Berkshire Hathaway CL B
51.85% of portfolio
 		CAT
Caterpillar Inc.
5.15% of portfolio
 		MCD
McDonald's Corp.
4.77% of portfolio
 		WM
Waste Management Inc.
4.30% of portfolio
 		KO
Coca Cola Co.
4.07% of portfolio
 		CNI
Canadian Natl Railway Co.
3.74% of portfolio
 		WMT
Walmart Inc.
3.38% of portfolio
 		XOM
Exxon Mobil Corp.
3.01% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
3.00% of portfolio
 		COST
Costco Co.
2.70% of portfolio
 		TV
Grupo Televisa SA
2.02% of portfolio
 		BP
BP plc
2.00% of portfolio
 		AN
AutoNation Inc.
1.71% of portfolio
 		CCI
Crown Castle International Corp.
1.61% of portfolio
 		FDX
FedEx Corp.
1.47% of portfolio
 		ECL
Ecolab Inc.
0.96% of portfolio
 		AMX
America Movil SAB de CV
0.73% of portfolio
 		CSX
CSX Corp.
0.60% of portfolio
 		EXPD
Expeditors Int'l
0.52% of portfolio
 		GS
Goldman Sachs Group
0.49% of portfolio
2010   Q2$11.9 B BRK.B
Berkshire Hathaway CL B
49.75% of portfolio
 		MCD
McDonald's Corp.
5.21% of portfolio
 		CAT
Caterpillar Inc.
4.86% of portfolio
 		KO
Coca Cola Co.
4.31% of portfolio
 		WM
Waste Management Inc.
4.15% of portfolio
 		CNI
Canadian Natl Railway Co.
4.07% of portfolio
 		WMT
Walmart Inc.
3.75% of portfolio
 		XOM
Exxon Mobil Corp.
3.44% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.97% of portfolio
 		COST
Costco Co.
2.83% of portfolio
 		TV
Grupo Televisa SA
2.29% of portfolio
 		AN
AutoNation Inc.
1.78% of portfolio
 		BP
BP plc
1.74% of portfolio
 		CCI
Crown Castle International Corp.
1.68% of portfolio
 		FDX
FedEx Corp.
1.49% of portfolio
 		ECL
Ecolab Inc.
0.95% of portfolio
 		AMX
America Movil SAB de CV
0.80% of portfolio
 		CSX
CSX Corp.
0.67% of portfolio
 		GS
Goldman Sachs Group
0.55% of portfolio
 		MTB
M&T Bank Corp.
0.54% of portfolio
2010   Q1$12.7 B BRK.B
Berkshire Hathaway CL B
49.09% of portfolio
 		MCD
McDonald's Corp.
4.94% of portfolio
 		CAT
Caterpillar Inc.
4.76% of portfolio
 		KO
Coca Cola Co.
4.42% of portfolio
 		WM
Waste Management Inc.
4.27% of portfolio
 		WMT
Walmart Inc.
4.06% of portfolio
 		CNI
Canadian Natl Railway Co.
4.02% of portfolio
 		XOM
Exxon Mobil Corp.
3.32% of portfolio
 		BP
BP plc
3.21% of portfolio
 		COST
Costco Co.
2.89% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.77% of portfolio
 		TV
Grupo Televisa SA
2.59% of portfolio
 		FDX
FedEx Corp.
1.86% of portfolio
 		CCI
Crown Castle International Corp.
1.61% of portfolio
 		AN
AutoNation Inc.
1.54% of portfolio
 		AMX
America Movil SAB de CV
0.80% of portfolio
 		CSX
CSX Corp.
0.64% of portfolio
 		MTB
M&T Bank Corp.
0.63% of portfolio
 		EXPD
Expeditors Int'l
0.48% of portfolio
 		XTO
XTO Energy Inc.
0.45% of portfolio
2009   Q4$10.5 B BRK.B
Berkshire Hathaway CL B
49.61% of portfolio
 		WM
Waste Management Inc.
5.08% of portfolio
 		MCD
McDonald's Corp.
4.40% of portfolio
 		CNI
Canadian Natl Railway Co.
4.36% of portfolio
 		CAT
Caterpillar Inc.
4.13% of portfolio
 		KO
Coca Cola Co.
3.64% of portfolio
 		COST
Costco Co.
3.46% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.86% of portfolio
 		XOM
Exxon Mobil Corp.
2.79% of portfolio
 		BP
BP plc
2.57% of portfolio
 		WMT
Walmart Inc.
2.43% of portfolio
 		TV
Grupo Televisa SA
2.22% of portfolio
 		CCI
Crown Castle International Corp.
1.99% of portfolio
 		AN
AutoNation Inc.
1.97% of portfolio
 		FDX
FedEx Corp.
1.22% of portfolio
 		CSX
CSX Corp.
0.70% of portfolio
 		AMX
America Movil SAB de CV
0.67% of portfolio
 		MTB
M&T Bank Corp.
0.64% of portfolio
 		EXPD
Expeditors Int'l
0.55% of portfolio
 		XTO
XTO Energy Inc.
0.54% of portfolio
2009   Q3$10.1 B BRK.B
Berkshire Hathaway CL B
53.39% of portfolio
 		WM
Waste Management Inc.
4.62% of portfolio
 		MCD
McDonald's Corp.
4.14% of portfolio
 		CNI
Canadian Natl Railway Co.
4.06% of portfolio
 		CAT
Caterpillar Inc.
3.84% of portfolio
 		KO
Coca Cola Co.
3.54% of portfolio
 		COST
Costco Co.
3.41% of portfolio
 		XOM
Exxon Mobil Corp.
2.90% of portfolio
 		BP
BP plc
2.43% of portfolio
 		WMT
Walmart Inc.
2.30% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.16% of portfolio
 		AN
AutoNation Inc.
1.83% of portfolio
 		CCI
Crown Castle International Corp.
1.65% of portfolio
 		TV
Grupo Televisa SA
1.59% of portfolio
 		FDX
FedEx Corp.
1.13% of portfolio
 		AMX
America Movil SAB de CV
0.65% of portfolio
 		CSX
CSX Corp.
0.62% of portfolio
 		MTB
M&T Bank Corp.
0.61% of portfolio
 		EXPD
Expeditors Int'l
0.57% of portfolio
 		XTO
XTO Energy Inc.
0.49% of portfolio
2009   Q2$7.49 B BRK.B
Berkshire Hathaway CL B
48.36% of portfolio
 		MCD
McDonald's Corp.
5.27% of portfolio
 		CNI
Canadian Natl Railway Co.
4.82% of portfolio
 		XOM
Exxon Mobil Corp.
4.00% of portfolio
 		COST
Costco Co.
3.74% of portfolio
 		KO
Coca Cola Co.
3.64% of portfolio
 		CAT
Caterpillar Inc.
3.35% of portfolio
 		WMT
Walmart Inc.
3.07% of portfolio
 		BP
BP plc
2.95% of portfolio
 		WM
Waste Management Inc.
2.94% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.44% of portfolio
 		AN
AutoNation Inc.
2.38% of portfolio
 		TV
Grupo Televisa SA
1.97% of portfolio
 		CCI
Crown Castle International Corp.
1.71% of portfolio
 		FDX
FedEx Corp.
1.13% of portfolio
 		EXPD
Expeditors Int'l
0.73% of portfolio
 		CSX
CSX Corp.
0.69% of portfolio
 		MTB
M&T Bank Corp.
0.68% of portfolio
 		XTO
XTO Energy Inc.
0.62% of portfolio
 		TSCO
Tractor Supply
0.55% of portfolio
2009   Q1$8.12 B BRK.B
Berkshire Hathaway CL B
45.20% of portfolio
 		SGP
Schering-Plough
4.34% of portfolio
 		MCD
McDonald's Corp.
4.28% of portfolio
 		CNI
Canadian Natl Railway Co.
3.67% of portfolio
 		XOM
Exxon Mobil Corp.
3.59% of portfolio
 		COST
Costco Co.
3.50% of portfolio
 		KO
Coca Cola Co.
3.08% of portfolio
 		WMT
Walmart Inc.
3.05% of portfolio
 		MRK
Merck & Co.
2.66% of portfolio
 		CAT
Caterpillar Inc.
2.61% of portfolio
 		WM
Waste Management Inc.
2.47% of portfolio
 		BP
BP plc
2.29% of portfolio
 		ABT
Abbott Labs
2.08% of portfolio
 		WYE
Wyeth
1.98% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.91% of portfolio
 		AN
AutoNation Inc.
1.76% of portfolio
 		JNJ
Johnson & Johnson
1.63% of portfolio
 		CCI
Crown Castle International Corp.
1.34% of portfolio
 		BAX
Baxter International Inc.
1.29% of portfolio
 		TV
Grupo Televisa SA
1.21% of portfolio
2008   Q4$9.08 B BRK.B
Berkshire Hathaway CL B
47.83% of portfolio
 		MCD
McDonald's Corp.
4.36% of portfolio
 		XOM
Exxon Mobil Corp.
3.77% of portfolio
 		COST
Costco Co.
3.54% of portfolio
 		CNI
Canadian Natl Railway Co.
3.40% of portfolio
 		WMT
Walmart Inc.
2.93% of portfolio
 		WM
Waste Management Inc.
2.85% of portfolio
 		KO
Coca Cola Co.
2.83% of portfolio
 		SGP
Schering-Plough
2.81% of portfolio
 		MRK
Merck & Co.
2.70% of portfolio
 		CAT
Caterpillar Inc.
2.50% of portfolio
 		BP
BP plc
2.39% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.19% of portfolio
 		ABT
Abbott Labs
2.04% of portfolio
 		JNJ
Johnson & Johnson
1.66% of portfolio
 		WYE
Wyeth
1.54% of portfolio
 		BAX
Baxter International Inc.
1.18% of portfolio
 		AN
AutoNation Inc.
1.11% of portfolio
 		TV
Grupo Televisa SA
1.10% of portfolio
 		FDX
FedEx Corp.
1.08% of portfolio
2008   Q3$11.2 B BRK.B
Berkshire Hathaway CL B
53.97% of portfolio
 		CNI
Canadian Natl Railway Co.
3.35% of portfolio
 		COST
Costco Co.
3.26% of portfolio
 		MCD
McDonald's Corp.
2.68% of portfolio
 		XOM
Exxon Mobil Corp.
2.62% of portfolio
 		WMT
Walmart Inc.
2.54% of portfolio
 		SGP
Schering-Plough
2.47% of portfolio
 		MRK
Merck & Co.
2.27% of portfolio
 		CAT
Caterpillar Inc.
2.15% of portfolio
 		BP
BP plc
2.07% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.05% of portfolio
 		WM
Waste Management Inc.
1.92% of portfolio
 		ABT
Abbott Labs
1.78% of portfolio
 		JNJ
Johnson & Johnson
1.55% of portfolio
 		CCI
Crown Castle International Corp.
1.38% of portfolio
 		KO
Coca Cola Co.
1.27% of portfolio
 		WYE
Wyeth
1.23% of portfolio
 		TV
Grupo Televisa SA
1.21% of portfolio
 		BAX
Baxter International Inc.
1.17% of portfolio
 		FDX
FedEx Corp.
1.08% of portfolio
2008   Q2$9.17 B BRK.B
Berkshire Hathaway CL B
41.58% of portfolio
 		CNI
Canadian Natl Railway Co.
4.12% of portfolio
 		COST
Costco Co.
3.92% of portfolio
 		XOM
Exxon Mobil Corp.
3.64% of portfolio
 		BP
BP plc
3.52% of portfolio
 		MRK
Merck & Co.
3.31% of portfolio
 		SGP
Schering-Plough
3.21% of portfolio
 		MCD
McDonald's Corp.
2.99% of portfolio
 		WMT
Walmart Inc.
2.91% of portfolio
 		WM
Waste Management Inc.
2.81% of portfolio
 		CAT
Caterpillar Inc.
2.53% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.53% of portfolio
 		CCI
Crown Castle International Corp.
2.25% of portfolio
 		ABT
Abbott Labs
2.01% of portfolio
 		WYE
Wyeth
1.95% of portfolio
 		JNJ
Johnson & Johnson
1.77% of portfolio
 		TV
Grupo Televisa SA
1.60% of portfolio
 		BAX
Baxter International Inc.
1.40% of portfolio
 		FDX
FedEx Corp.
1.31% of portfolio
 		KO
Coca Cola Co.
1.24% of portfolio
2008   Q1$9.48 B BRK.B
Berkshire Hathaway CL B
46.00% of portfolio
 		CNI
Canadian Natl Railway Co.
3.80% of portfolio
 		COST
Costco Co.
3.51% of portfolio
 		XOM
Exxon Mobil Corp.
3.38% of portfolio
 		MRK
Merck & Co.
3.23% of portfolio
 		BP
BP plc
2.96% of portfolio
 		WMT
Walmart Inc.
2.64% of portfolio
 		CAT
Caterpillar Inc.
2.59% of portfolio
 		MCD
McDonald's Corp.
2.54% of portfolio
 		WM
Waste Management Inc.
2.41% of portfolio
 		SGP
Schering-Plough
2.27% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.25% of portfolio
 		ABT
Abbott Labs
2.02% of portfolio
 		CCI
Crown Castle International Corp.
1.94% of portfolio
 		ADM
Archer-Daniels-Midland
1.89% of portfolio
 		JNJ
Johnson & Johnson
1.72% of portfolio
 		WYE
Wyeth
1.64% of portfolio
 		TV
Grupo Televisa SA
1.58% of portfolio
 		KO
Coca Cola Co.
1.40% of portfolio
 		FDX
FedEx Corp.
1.25% of portfolio
2007   Q4$10.1 B BRK.B
Berkshire Hathaway CL B
45.65% of portfolio
 		MRK
Merck & Co.
4.63% of portfolio
 		SGP
Schering-Plough
3.94% of portfolio
 		COST
Costco Co.
3.54% of portfolio
 		XOM
Exxon Mobil Corp.
3.51% of portfolio
 		CNI
Canadian Natl Railway Co.
3.46% of portfolio
 		BP
BP plc
3.35% of portfolio
 		CAT
Caterpillar Inc.
2.25% of portfolio
 		WM
Waste Management Inc.
2.20% of portfolio
 		WMT
Walmart Inc.
2.12% of portfolio
 		MCD
McDonald's Corp.
2.07% of portfolio
 		CCI
Crown Castle International Corp.
2.06% of portfolio
 		ADM
Archer-Daniels-Midland
2.00% of portfolio
 		ABT
Abbott Labs
1.93% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.84% of portfolio
 		JNJ
Johnson & Johnson
1.66% of portfolio
 		WYE
Wyeth
1.63% of portfolio
 		TV
Grupo Televisa SA
1.45% of portfolio
 		KO
Coca Cola Co.
1.32% of portfolio
 		BAX
Baxter International Inc.
1.15% of portfolio
2007   Q3$9.12 B BRK.B
Berkshire Hathaway CL B
42.23% of portfolio
 		SGP
Schering-Plough
5.19% of portfolio
 		MRK
Merck & Co.
4.57% of portfolio
 		CNI
Canadian Natl Railway Co.
3.69% of portfolio
 		XOM
Exxon Mobil Corp.
3.59% of portfolio
 		BP
BP plc
3.52% of portfolio
 		COST
Costco Co.
3.28% of portfolio
 		WM
Waste Management Inc.
2.61% of portfolio
 		CCI
Crown Castle International Corp.
2.23% of portfolio
 		ABT
Abbott Labs
2.04% of portfolio
 		CAT
Caterpillar Inc.
1.84% of portfolio
 		WYE
Wyeth
1.82% of portfolio
 		JNJ
Johnson & Johnson
1.81% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
1.74% of portfolio
 		TV
Grupo Televisa SA
1.59% of portfolio
 		ADM
Archer-Daniels-Midland
1.58% of portfolio
 		KO
Coca Cola Co.
1.37% of portfolio
 		FDX
FedEx Corp.
1.32% of portfolio
 		BAX
Baxter International Inc.
1.23% of portfolio
 		PFE
Pfizer Inc.
0.91% of portfolio
2007   Q2$6.64 B BRK.B
Berkshire Hathaway CL B
27.14% of portfolio
 		SGP
Schering-Plough
5.05% of portfolio
 		BP
BP plc
5.03% of portfolio
 		MRK
Merck & Co.
4.75% of portfolio
 		XOM
Exxon Mobil Corp.
4.46% of portfolio
 		CNI
Canadian Natl Railway Co.
4.45% of portfolio
 		COST
Costco Co.
4.30% of portfolio
 		WM
Waste Management Inc.
3.72% of portfolio
 		WYE
Wyeth
3.22% of portfolio
 		ABT
Abbott Labs
2.80% of portfolio
 		CCI
Crown Castle International Corp.
2.73% of portfolio
 		TV
Grupo Televisa SA
2.47% of portfolio
 		TYC
Tyco International
2.44% of portfolio
 		CAT
Caterpillar Inc.
2.35% of portfolio
 		KOF
Coca-Cola FEMSA S A CV
2.19% of portfolio
 		ADM
Archer-Daniels-Midland
2.17% of portfolio
 		FDX
FedEx Corp.
1.92% of portfolio
 		BAX
Baxter International Inc.
1.70% of portfolio
 		KO
Coca Cola Co.
1.52% of portfolio
 		DDAIF
Daimler AG
1.39% of portfolio