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 55,261 280,910 SH   SOLE NONE 1,250 0 279,660
ABBOTT LABORATORIES COM 002824100 391,191 6,414,025 SH   SOLE NONE 5,000,000 0 1,414,025
ACTIVISION BLIZZARD COM 00507V109 90,893 1,190,950 SH   SOLE NONE 1,187,000 0 3,950
ADOBE SYSTEMS COM 00724F101 13,291 54,515 SH   SOLE NONE 0 0 54,515
AGNICO EAGLE MINES COM 008474108 71,412 1,558,200 SH   SOLE NONE 1,439,800 0 118,400
ALIBABA COM 01609W102 18,367 99,000 SH   SOLE NONE 53,000 0 46,000
ALPHABET - CLASS A COM 02079K305 848,252 751,204 SH   SOLE NONE 583,960 0 167,244
ALTRIA GROUP COM 02209S103 3,010 53,000 SH   SOLE NONE 53,000 0 0
AMAZON.COM COM 023135106 61,817 36,367 SH   SOLE NONE 0 0 36,367
AMBEV ADR COM 02319V103 579 125,000 SH   SOLE NONE 125,000 0 0
AMETEK COM 031100100 3,435 47,605 SH   SOLE NONE 0 0 47,605
AMGEN COM 031162100 12,092 65,508 SH   SOLE NONE 0 0 65,508
ANHEUSER-BUSCH INBEV ADR COM 03524A108 302 3,000 SH   SOLE NONE 0 0 3,000
APPLE COM 037833100 20,025 108,180 SH   SOLE NONE 0 0 108,180
AUTOMATIC DATA PROCESSING COM 053015103 483 3,600 SH   SOLE NONE 0 0 3,600
BAIDU ADR COM 056752108 1,166 4,800 SH   SOLE NONE 0 0 4,800
BARRICK GOLD COM 067901108 635,457 48,397,134 SH   SOLE NONE 39,701,349 0 8,695,785
BARRICK GOLD CALL COM 067901908 3,676 2,800 SH Call SOLE NONE 0 0 0
BECTON DICKINSON COM 075887109 2,300 9,600 SH   SOLE NONE 9,500 0 100
BERKSHIRE HATHAWAY A COM 084670108 1,128 4 SH   SOLE NONE 0 0 4
BERKSHIRE HATHAWAY B COM 084670702 1,084,049 5,807,925 SH   SOLE NONE 4,920,434 0 887,491
BOOKING HOLDINGS COM 09857L108 264,028 130,250 SH   SOLE NONE 113,637 0 16,613
CHECK POINT SOFTWARE COM M22465104 242,921 2,486,903 SH   SOLE NONE 1,923,763 0 563,140
CHINA MOBILE ADR COM 16941M109 903 20,340 SH   SOLE NONE 0 0 20,340
CHURCH & DWIGHT COM 171340102 2,408 45,300 SH   SOLE NONE 0 0 45,300
CISCO SYSTEMS COM 17275R102 237 5,510 SH   SOLE NONE 0 0 5,510
COCA-COLA COM 191216100 33,856 771,900 SH   SOLE NONE 30,000 0 741,900
COGNIZANT TECH SOLUTIONS COM 192446102 115,718 1,464,966 SH   SOLE NONE 455,700 0 1,009,266
COLGATE-PALMOLIVE COM 194162103 114,003 1,759,030 SH   SOLE NONE 750,000 0 1,009,030
CONOCOPHILLIPS COM 20825C104 10,617 152,500 SH   SOLE NONE 0 0 152,500
CREDICORP COM G2519Y108 788 3,500 SH   SOLE NONE 3,500 0 0
DANAHER COM 235851102 547,655 5,549,805 SH   SOLE NONE 4,268,240 0 1,281,565
DICK'S SPORTING GOODS COM 253393102 215 6,090 SH   SOLE NONE 0 0 6,090
DISCOVERY COMMUNICATIONS-A COM 25470F104 223 8,110 SH   SOLE NONE 0 0 8,110
EBAY COM 278642103 627 17,290 SH   SOLE NONE 0 0 17,290
ELECTRONIC ARTS COM 285512109 237,959 1,687,410 SH   SOLE NONE 959,350 0 728,060
EMERSON ELECTRIC COM 291011104 16,362 236,650 SH   SOLE NONE 0 0 236,650
EXPEDIA CALL COM 30212P903 7,812 650 SH Call SOLE NONE 0 0 0
EXPEDIA GROUP COM 30212P303 61,767 513,915 SH   SOLE NONE 89,800 0 424,115
EXXON MOBIL COM 30231G102 73,968 894,095 SH   SOLE NONE 292,500 0 601,595
FACEBOOK COM 30303M102 357,245 1,838,435 SH   SOLE NONE 1,377,500 0 460,935
FEMSA ADR COM 344419106 1,317 15,000 SH   SOLE NONE 15,000 0 0
FORTIVE COM 34959J108 6,208 80,504 SH   SOLE NONE 0 0 80,504
GENERAL ELECTRIC COM 369604103 186 13,655 SH   SOLE NONE 0 0 13,655
GENERAL MILLS COM 370334104 24,766 559,553 SH   SOLE NONE 532,053 0 27,500
GILEAD SCIENCES COM 375558103 267 3,770 SH   SOLE NONE 0 0 3,770
GOLDCORP COM 380956409 35,592 2,596,040 SH   SOLE NONE 828,000 0 1,768,040
HDFC BANK ADR COM 40415F101 56,031 533,530 SH   SOLE NONE 175,000 0 358,530
HONEYWELL INTERNATIONAL COM 438516106 232 1,610 SH   SOLE NONE 0 0 1,610
INTL. BUSINESS MACHINES COM 459200101 118,985 851,718 SH   SOLE NONE 91,600 0 760,118
JD.COM ADR COM 47215P106 974 25,000 SH   SOLE NONE 25,000 0 0
JOHNSON & JOHNSON COM 478160104 431,198 3,553,636 SH   SOLE NONE 2,592,825 0 960,811
L BRANDS COM 501797104 59,852 1,622,890 SH   SOLE NONE 367,000 0 1,255,890
LOWE'S COS COM 548661107 6,351 66,450 SH   SOLE NONE 34,100 0 32,350
MARATHON OIL COM 565849106 13,315 638,300 SH   SOLE NONE 150,000 0 488,300
MASTERCARD COM 57636Q104 77,592 394,830 SH   SOLE NONE 11,300 0 383,530
MCDONALDS COM 580135101 6,805 43,428 SH   SOLE NONE 0 0 43,428
MEDTRONIC COM G5960L103 182,201 2,128,271 SH   SOLE NONE 277,850 0 1,850,421
MERCADOLIBRE COM 58733R102 1,046 3,500 SH   SOLE NONE 3,500 0 0
MICHAEL KORS COM G60754101 6,707 100,700 SH   SOLE NONE 0 0 100,700
MICROSOFT COM 594918104 154,295 1,564,695 SH   SOLE NONE 200,500 0 1,364,195
NATIONAL OILWELL VARCO COM 637071101 13,187 303,850 SH   SOLE NONE 0 0 303,850
NETEASE ADR COM 64110W102 1,074 4,250 SH   SOLE NONE 4,250 0 0
NEWMONT MINING COM 651639106 384,253 10,189,687 SH   SOLE NONE 8,784,725 0 1,404,962
NEWMONT MINING CALL COM 651639906 4,148 1,100 SH Call SOLE NONE 0 0 0
NIKE COM 654106103 21,263 266,850 SH   SOLE NONE 0 0 266,850
NXSTAGE MEDICAL COM 67072V103 76,234 2,732,413 SH   SOLE NONE 2,732,413 0 0
OCCIDENTAL PETROLEUM COM 674599105 108,111 1,291,958 SH   SOLE NONE 575,200 0 716,758
ORACLE COM 68389X105 147,024 3,336,895 SH   SOLE NONE 778,000 0 2,558,895
PALO ALTO NETWORKS COM 697435105 32,789 159,581 SH   SOLE NONE 0 0 159,581
PAYPAL COM 70450Y103 13,206 158,590 SH   SOLE NONE 2,000 0 156,590
PEPSICO COM 713448108 2,571 23,615 SH   SOLE NONE 20,600 0 3,015
PHILIP MORRIS INTERNAT. COM 718172109 1,147,533 14,212,696 SH   SOLE NONE 12,357,000 0 1,855,696
PROCTER & GAMBLE COM 742718109 201,255 2,578,215 SH   SOLE NONE 2,052,700 0 525,515
PROCTER & GAMBLE CALL COM 742718909 5,464 700 SH Call SOLE NONE 0 0 0
QUALCOMM COM 747525103 21,326 380,000 SH   SOLE NONE 0 0 380,000
ROSS STORES COM 778296103 49,231 580,902 SH   SOLE NONE 510,312 0 70,590
SCHLUMBERGER COM 806857108 87,219 1,301,200 SH   SOLE NONE 256,050 0 1,045,150
TAIWAN SEMICONDUCTOR ADR COM 874039100 7,604 208,000 SH   SOLE NONE 208,000 0 0
TAPESTRY COM 876030107 15,388 329,430 SH   SOLE NONE 4,150 0 325,280
THERMO FISHER SCIENTIFIC COM 883556102 7,666 37,010 SH   SOLE NONE 0 0 37,010
TJX COMPANIES COM 872540109 205,932 2,163,602 SH   SOLE NONE 1,474,550 0 689,052
UBS GROUP COM H42097107 181,927 11,755,850 SH   SOLE NONE 11,670,100 0 85,750
ULTRAPAR ADR COM 90400P101 829 70,000 SH   SOLE NONE 70,000 0 0
UNION PACIFIC COM 907818108 36,434 257,155 SH   SOLE NONE 0 0 257,155
UNITED TECHNOLOGIES COM 913017109 76,847 614,630 SH   SOLE NONE 105,300 0 509,330
VERIZON COMMUNICATIONS COM 92343V104 58,892 1,170,585 SH   SOLE NONE 7,200 0 1,163,385
VISA - CLASS A COM 92826C839 67,793 511,840 SH   SOLE NONE 27,250 0 484,590
WALMART COM 931142103 14,978 174,880 SH   SOLE NONE 6,550 0 168,330
WALT DISNEY COM 254687106 5,345 51,000 SH   SOLE NONE 0 0 51,000
WELLS FARGO COM 949746101 7,973 143,810 SH   SOLE NONE 0 0 143,810
WORLDPAY COM 981558109 532,195 6,507,637 SH   SOLE NONE 4,948,654 0 1,558,983
YUM! BRANDS COM 988498101 813 10,400 SH   SOLE NONE 0 0 10,400
0,250 TEVA PHARMA 01.02.2026 NOTE 88163VAE9 651 700,000 PRN   SOLE NONE 0 0 0
0,350 BOOKING HOLDINGS 15.06.2020 NOTE 741503AS5 2,016 1,300,000 PRN   SOLE NONE 0 0 0
0,750 NABORS INDUSTRIES 15.01.2024 NOTE 62957HAB1 5,153 6,500,000 PRN   SOLE NONE 0 0 0
0,900 BOOKING HOLDINGS 15.09.2021 NOTE 741503AX4 6,005 5,000,000 PRN   SOLE NONE 0 0 0
1,000 CTRIP.COM 01.07.2020 NOTE 22943FAF7 2,128 2,000,000 PRN   SOLE NONE 0 0 0
1,000 LIBERTY MEDIA 30.01.2023 NOTE 531229AF9 7,781 6,600,000 PRN   SOLE NONE 0 0 0
1,000 NUANCE COMMUNICATIONS 15.12.2035 NOTE 67020YAK6 10,489 11,700,000 PRN   SOLE NONE 0 0 0
1,250 CTRIP.COM 15.09.2022 NOTE 22943FAM2 11,900 11,500,000 PRN   SOLE NONE 0 0 0
1,250 NUANCE COMMUNICATIONS 01.04.2025 NOTE 67020YAN0 2,361 2,500,000 PRN   SOLE NONE 0 0 0
1,375 LIBERTY MEDIA 15.10.2023 NOTE 531229AB8 6,246 5,000,000 PRN   SOLE NONE 0 0 0
1,625 ON SEMICONDUCTOR 15.10.2023 NOTE 682189AP0 4,209 3,300,000 PRN   SOLE NONE 0 0 0
2,000 MACQUARIE INFRASTRUCTURE 01.10.2023 NOTE 55608BAB1 3,799 4,250,000 PRN   SOLE NONE 0 0 0
2,250 LIBERTY MEDIA 30.09.2046 NOTE 531229AE2 8,171 21,800,000 PRN   SOLE NONE 0 0 0