Monthly Portfolio Holdings

Portfolio holdings sorted alphabetically
as of June 30, 2010

Security Description Symbol Security Description Symbol
ABB Limited ADR ABB Iron Mountain, Inc. IRM
Activision Blizzard, Inc. ATVI Johnson & Johnson JNJ
Agilent Technologies, Inc. A JPMorgan Chase & Co. JPM
Amazon.Com, Inc. AMZN Julius Baer Group Ltd. BAER VX
America Movil SAB de C.V. ADR AMX Kuehne & Nagel International AG KNIN VX
American Express Co. AXP Level 3 Communications - Conv. Bond 52729NBM1
Ameriprise Financial, Inc. AMP Liberty Media Interactive Series A LINTA
Bank of New York Mellon Corp. BK Liberty Media-Starz Series A LSTZA
Baxter International, Inc. BAX LLX Logistica S.A. LLXL3 BZ
Becton, Dickinson and Company BDX Loews Corp. L
Bed Bath & Beyond, Inc. BBBY Markel Corp. MKL
Berkshire Hathaway, Inc. Class A BRK A Martin Marietta Materials, Inc. MLM
BHP Billiton PLC BLT LN Mead Johnson Nutrition Co. MJN
Brookfield Asset Management Inc., Class A BAM Merck & Co., Inc. MRK
Canadian Natural Resources, Ltd. CNQ Microsoft Corp. MSFT
Cardinal Health, Inc. CAH Monsanto Co. MON
CareFusion Corp. CFN Moody's Corp. MCO
CarMax, Inc. KMX Natura Cosmeticos SA NATU3 BZ
China Coal Energy Co. 1898 HK Nestle SA NESN VX
China Merchants Holding Int'l Co. Ltd. 144 HK News Corp. Class A NWSA
China Shipping Development Co. Ltd. 1138 HK Occidental Petroleum Corp. OXY
Coca-Cola Company KO OGX Petroleo e Gas Participacoes SA OGXP3 BZ
ConocoPhillips COP Pfizer Inc. PFE
Cosco Pacific Limited 1199 HK Philip Morris International, Inc. PM
Costco Wholesale Corp. COST Potash Corporation of Saskatchewan, Inc. POT
CVS Caremark Corp. CVS Procter & Gamble Co. PG
D & B Corp. DNB Progressive Corp. PGR
Devon Energy Corp. DVN Rio Tinto PLC RIO LN
Diageo PLC DGE LN Schlumberger Ltd. SLB
EOG Resources, Inc. EOG Sealed Air Corp. SEE
Express Scripts, Inc. ESRX Sealed Air Corp. - Corporate Bond 81211KAL4
Fairfax Financial Holdings Ltd. FRFHF Sino-Forest Corp. TRE CN
Gam Holdings Ltd. GAM VX Sino-Forest Corp. - Conv. Bond 82934HAB7
Goldman Sachs Group, Inc. GS Texas Instruments, Inc. TXN
Google Inc., Class A GOOG Transatlantic Holdings, Inc. TRH
Grupo Televisa S.A. ADR TV Transocean Ltd. RIG
H & R Block, Inc. HRB Tyco International Ltd. TYC
Hang Lung Group Ltd. 10 HK Unilever NV UN
Harley-Davidson, Inc. HOG United Parcel Service, Inc. Class B UPS
Harley-Davidson, Inc. - Corporate Bond 412822AC2 Visa, Inc. Class A V
Heineken Holding NV HEIO NA Vulcan Materials Corp. VMC
Hershey Company HSY Walt Disney Company DIS
Hewlett Packard Co. HPQ Wells Fargo & Co. WFC
Hunter Douglas NV HDG NA



Portfolio holdings are subject to change. The holdings above may not represent the entire portfolio. For a complete listing of portfolio holdings review the most recent Annual Report, Semi-Annual report, or Form N-Q.

 














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