The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M COM 88579Y101 279,673 1,972,720 SH   SOLE NONE 1,757,176 0 215,544
ABBOTT LABORATORIES COM 002824100 167,508 4,164,806 SH   SOLE NONE 3,617,776 0 547,030
ABBVIE COM 00287Y109 5,196 95,500 SH   SOLE NONE 0 0 95,500
AMBEV ADR COM 02319V103 29,442 6,008,500 SH   SOLE NONE 1,050,000 0 4,958,500
AMGEN COM 031162100 173,924 1,257,402 SH   SOLE NONE 964,200 0 293,202
APPLE COM 037833100 234,068 2,122,104 SH   SOLE NONE 1,730,004 0 392,100
AT & T COM 00206R102 233 7,150 SH   SOLE NONE 0 0 7,150
BAIDU ADR COM 056752108 30,396 221,210 SH   SOLE NONE 11,500 0 209,710
BARRICK GOLD COM 067901108 11,961 1,880,640 SH   SOLE NONE 750,000 0 1,130,640
BAXALTA COM 07177M103 410 13,000 SH   SOLE NONE 0 0 13,000
BAXTER INTERNATIONAL COM 071813109 2,398 73,000 SH   SOLE NONE 0 0 73,000
BERKSHIRE HATHAWAY A COM 084670108 586 3 SH   SOLE NONE 0 0 3
BERKSHIRE HATHAWAY B COM 084670702 362,730 2,781,672 SH   SOLE NONE 2,586,512 0 195,160
CHINA MOBILE ADR COM 16941M109 23,309 391,750 SH   SOLE NONE 273,400 0 118,350
CISCO SYSTEMS COM 17275R102 52,588 2,003,360 SH   SOLE NONE 1,172,000 0 831,360
CISCO SYSTEMS CALL COM 17275R902 3,413 1,300 SH Call SOLE NONE 0 0 0
COACH COM 189754104 34,391 1,188,780 SH   SOLE NONE 90,000 0 1,098,780
COCA-COLA COM 191216100 523,756 13,054,733 SH   SOLE NONE 11,182,443 0 1,872,290
COLGATE-PALMOLIVE COM 194162103 26,581 418,870 SH   SOLE NONE 24,000 0 394,870
CONOCOPHILLIPS COM 20825C104 11,630 242,500 SH   SOLE NONE 23,000 0 219,500
CREDICORP COM G2519Y108 957 9,000 SH   SOLE NONE 3,250 0 5,750
DANAHER COM 235851102 141,722 1,663,207 SH   SOLE NONE 1,546,777 0 116,430
DEERE & CO. COM 244199105 266 3,600 SH   SOLE NONE 0 0 3,600
DILLARDS COM 254067101 20,462 234,150 SH   SOLE NONE 147,300 0 86,850
DR REDDY'S LABORATORIES ADR COM 256135203 1,150 18,000 SH   SOLE NONE 6,500 0 11,500
EBAY COM 278642103 12,574 514,500 SH   SOLE NONE 0 0 514,500
EMC COM 268648102 15,832 655,300 SH   SOLE NONE 170,000 0 485,300
EMERSON ELECTRIC COM 291011104 154,431 3,496,292 SH   SOLE NONE 3,220,542 0 275,750
EXXON MOBIL COM 30231G102 23,693 318,670 SH   SOLE NONE 50,000 0 268,670
GOLDCORP COM 380956409 508 40,600 SH   SOLE NONE 0 0 40,600
GOOGLE - CLASS A COM 38259P508 333,998 523,205 SH   SOLE NONE 367,150 0 156,055
GOOGLE - CLASS C COM 38259P706 610 1,002 SH   SOLE NONE 0 0 1,002
GRUPO PAO DE ACUCAR ADR COM 20440T201 477 38,000 SH   SOLE NONE 12,500 0 25,500
GRUPO SANTANDER MEXICO ADR COM 40053C105 1,119 152,500 SH   SOLE NONE 55,000 0 97,500
HDFC BANK ADR COM 40415F101 684 11,200 SH   SOLE NONE 4,000 0 7,200
HONEYWELL INTERNATIONAL COM 438516106 4,853 51,250 SH   SOLE NONE 0 0 51,250
IBM COM 459200101 46,060 317,720 SH   SOLE NONE 25,000 0 292,720
INTEL COM 458140100 13,326 442,150 SH   SOLE NONE 0 0 442,150
INTL FLAVORS & FRAGRANCES COM 459506101 774 7,500 SH   SOLE NONE 0 0 7,500
JOHNSON & JOHNSON COM 478160104 327,180 3,504,870 SH   SOLE NONE 2,362,200 0 1,142,670
JOHNSON & JOHNSON CALL COM 478160904 7,468 800 SH Call SOLE NONE 0 0 0
KELLOGG COM 487836108 622 9,350 SH   SOLE NONE 0 0 9,350
L BRANDS COM 501797104 2,231 24,750 SH   SOLE NONE 0 0 24,750
LIBERTY INTERACTIVE A COM 53071M104 7,921 302,000 SH   SOLE NONE 0 0 302,000
MARATHON OIL COM 565849106 1,109 72,000 SH   SOLE NONE 72,000 0 0
MASTERCARD COM 57636Q104 131,860 1,463,159 SH   SOLE NONE 356,300 0 1,106,859
MASTERCARD CALL COM 57636Q904 2,704 300 SH Call SOLE NONE 0 0 0
MCDONALDS COM 580135101 16,959 172,125 SH   SOLE NONE 0 0 172,125
MEDTRONIC COM G5960L103 115,230 1,721,390 SH   SOLE NONE 483,200 0 1,238,190
MICHAEL KORS COM G60754101 344,306 8,151,185 SH   SOLE NONE 7,150,735 0 1,000,450
MICHAEL KORS HOLDINGS CALL COM G60754901 1,267 300 SH Call SOLE NONE 0 0 0
MICRON TECHNOLOGY COM 595112103 17,714 1,182,500 SH   SOLE NONE 388,300 0 794,200
MICROSOFT COM 594918104 385,037 8,699,439 SH   SOLE NONE 5,584,124 0 3,115,315
MICROSOFT CALL COM 594918904 4,426 1,000 SH Call SOLE NONE 0 0 0
NATIONAL OILWELL VARCO COM 637071101 27,443 728,900 SH   SOLE NONE 281,300 0 447,600
NEWMONT MINING COM 651639106 10,568 657,630 SH   SOLE NONE 0 0 657,630
OCCIDENTAL PETROLEUM COM 674599105 1,607 24,300 SH   SOLE NONE 17,000 0 7,300
ORACLE COM 68389X105 45,576 1,261,805 SH   SOLE NONE 351,300 0 910,505
PAYPAL COM 70450Y103 75,574 2,434,745 SH   SOLE NONE 80,500 0 2,354,245
PEPSICO COM 713448108 77,654 823,480 SH   SOLE NONE 737,700 0 85,780
PFIZER COM 717081103 63,398 2,018,400 SH   SOLE NONE 803,700 0 1,214,700
PHILIP MORRIS INTL. COM 718172109 183,363 2,311,393 SH   SOLE NONE 1,899,313 0 412,080
POTASH CORP SASKATCHEWAN COM 73755L107 16,656 810,500 SH   SOLE NONE 0 0 810,500
PRICELINE GROUP COM 741503403 101,298 81,899 SH   SOLE NONE 17,245 0 64,654
PROCTER & GAMBLE COM 742718109 292,261 4,062,563 SH   SOLE NONE 3,595,893 0 466,670
QIAGEN COM N72482107 12,871 499,900 SH   SOLE NONE 82,000 0 417,900
QUALCOMM COM 747525103 245,433 4,567,890 SH   SOLE NONE 3,009,600 0 1,558,290
ROSS STORES COM 778296103 1,352 27,900 SH   SOLE NONE 0 0 27,900
SCHLUMBERGER COM 806857108 8,301 120,350 SH   SOLE NONE 40,000 0 80,350
SEAGATE TECHNOLOGY COM G7945M107 21,616 482,500 SH   SOLE NONE 27,000 0 455,500
STRYKER COM 863667101 20,184 214,500 SH   SOLE NONE 124,700 0 89,800
TAIWAN SEMICONDUCTOR ADR COM 874039100 2,853 137,500 SH   SOLE NONE 50,000 0 87,500
THERMO FISHER SCIENTIFIC COM 883556102 6,215 50,830 SH   SOLE NONE 0 0 50,830
TJX COMPANIES COM 872540109 32,629 456,865 SH   SOLE NONE 0 0 456,865
ULTRAPAR ADR COM 90400P101 1,129 67,500 SH   SOLE NONE 25,000 0 42,500
UNION PACIFIC COM 907818108 33,092 374,300 SH   SOLE NONE 0 0 374,300
UNITED TECHNOLOGIES COM 913017109 165,579 1,860,646 SH   SOLE NONE 1,742,326 0 118,320
VERIZON COMMUNICATIONS COM 92343V104 22,686 521,389 SH   SOLE NONE 85,000 0 436,389
VISA - CLASS A COM 92826C839 31,312 449,500 SH   SOLE NONE 25,000 0 424,500
WAL-MART STORES COM 931142103 4,176 64,400 SH   SOLE NONE 0 0 64,400
WELLS FARGO COM 949746101 10,989 214,000 SH   SOLE NONE 0 0 214,000
WESTERN DIGITAL COM 958102105 6,435 81,000 SH   SOLE NONE 0 0 81,000
WESTERN UNION COM 959802109 6,160 335,500 SH   SOLE NONE 100,000 0 235,500
WW GRAINGER COM 384802104 763 3,550 SH   SOLE NONE 0 0 3,550
XEROX COM 984121103 10,115 1,039,610 SH   SOLE NONE 0 0 1,039,610
YAHOO! COM 984332106 8,153 281,999 SH   SOLE NONE 0 0 281,999
YANDEX COM N97284108 612 57,000 SH   SOLE NONE 20,000 0 37,000
YUM! BRANDS COM 988498101 1,019 12,750 SH   SOLE NONE 0 0 12,750
ZIMMER BIOMET HOLDINGS COM 98956P102 7,900 84,100 SH   SOLE NONE 33,000 0 51,100
SPDR GOLD TRUST GOLD SHS 78463V107 3,206 30,000 SH   SOLE NONE 0 0 0
0,350% PRICELINE 15.06.2020 NOTE 741503AS5 28,883 24,500,000 PRN   SOLE NONE 0 0 0
0,500% CITRIX SYSTEMS 15.04.2019 NOTE 177376AD2 3,164 3,000,000 PRN   SOLE NONE 0 0 0
0,500% SANDISK 15.10.2020 NOTE 80004CAF8 3,880 4,000,000 PRN   SOLE NONE 0 0 0
0,500% TOLL BROTHERS 15.09.2032 NOTE 88947EAM2 6,185 6,000,000 PRN   SOLE NONE 0 0 0
0,625% VIAVI SOLUTIONS 15.08.2033 NOTE 46612JAF8 5,632 6,000,000 PRN   SOLE NONE 0 0 0
1,000% SINA 01.12.2018 NOTE 82922RAD5 4,268 4,500,000 PRN   SOLE NONE 0 0 0
1,375% LIBERTY MEDIA 15.10.2023 NOTE 531229AB8 9,559 10,000,000 PRN   SOLE NONE 0 0 0
2,950% INTEL 15.12.2035 NOTE 458140AD2 7,367 6,000,000 PRN   SOLE NONE 0 0 0
3,000% MICRON TECHNOLOGY 15.11.2043 NOTE 595112AY9 4,302 5,000,000 PRN   SOLE NONE 0 0 0