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
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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 Co. COM 88579Y101 1,357 10,000 SH   SOLE   10,000 0 0
Altria Group Inc. COM 02209S103 750 20,048 SH   SOLE   20,048 0 0
American Homes 4 Rent Real Estate Investment Trust COM 02665T306 59,054 3,534,074 SH   SOLE   2,461,047 0 1,073,027
AmerisourceBergen Corp. COM 03073E105 134,347 2,048,285 SH   SOLE   2,018,540 0 29,745
Apple Inc. COM 037833100 191,250 356,348 SH   SOLE   352,408 0 3,940
Ares Capital Corp. COM 04010L103 69,050 3,918,859 SH   SOLE   2,583,688 0 1,335,171
Argo Group International Holdings Ltd. COM G0464B107 5,372 117,031 SH   SOLE   113,532 0 3,499
Arthur J. Gallagher & Co. COM 363576109 73,298 1,540,512 SH   SOLE   1,011,589 0 528,923
Bank of Montreal COM 063671101 1,004 15,000 SH   SOLE   15,000 0 0
Bank of Nova Scotia COM 064149107 191,261 3,302,078 SH   SOLE   3,256,187 0 45,891
Barrick Gold Corp. COM 067901108 208 11,700 SH   SOLE   11,700 0 0
Baxter International Inc. COM 071813109 140,052 1,909,307 SH   SOLE   1,888,368 0 20,939
BB&T Corp. COM 054937107 233,095 5,821,705 SH   SOLE   5,765,577 0 56,128
Becton, Dickinson & Co. COM 075887109 113,418 968,724 SH   SOLE   954,306 0 14,418
Berkshire Hathaway Inc. CL A 084670108 49,460 264 SH   SOLE   262 0 2
Berkshire Hathaway Inc. CL B 084670702 6,330 50,652 SH   SOLE   42,484 0 8,168
Booz Allen Hamilton Holding Corp. COM 099502106 47,458 2,157,179 SH   SOLE   1,504,862 0 652,317
Brookfield Infrastructure Partners LP COM G16252101 19,067 484,438 SH   SOLE   433,937 0 50,501
Brown & Brown Inc. COM 115236101 51,748 1,682,301 SH   SOLE   1,094,068 0 588,233
Canadian National Railway Co. COM 136375102 158,899 2,828,160 SH   SOLE   2,800,860 0 27,300
Canadian Natural Resources Ltd. COM 136385101 213,168 5,561,696 SH   SOLE   5,541,428 0 20,268
CARBO Ceramics Inc. COM 140781105 31,346 227,165 SH   SOLE   148,198 0 78,967
CBIZ Inc. COM 124805102 45,183 4,932,639 SH   SOLE   3,340,018 0 1,592,621
Cenovus Energy Inc. COM 15135U109 211,652 7,318,525 SH   SOLE   7,292,475 0 26,050
Cisco Systems Inc. COM 17275R102 196,715 8,784,700 SH   SOLE   8,687,832 0 96,868
Coastal Contacts Inc. COM 19044R207 26,930 2,400,803 SH   SOLE   2,400,803 0 0
Coca-Cola Femsa S.A.B. de C.V. SPONSORED ADR 191241108 6,319 59,889 SH   SOLE   59,889 0 0
Copart Inc. COM 217204106 4,991 137,140 SH   SOLE   133,185 0 3,955
Corporate Executive Board Co. COM 21988R102 68,444 922,048 SH   SOLE   596,529 0 325,519
DeVry Education Group Inc. COM 251893103 96,377 2,273,577 SH   SOLE   1,530,937 0 742,640
Diageo PLC SPONSORED ADR 25243Q205 590 4,736 SH   SOLE   4,736 0 0
Dun & Bradstreet Corp. COM 26483E100 2,751 27,693 SH   SOLE   26,897 0 796
Eaton Vance Variable Rate Income Trust COM 278279104 10,641 677,790 SH   SOLE   677,790 0 0
Emerson Electric Co. COM 291011104 102,830 1,539,367 SH   SOLE   1,515,720 0 23,647
Enbridge Inc. COM 29250N105 655 14,421 SH   SOLE   14,421 0 0
EnCana Corp. COM 292505104 1,808 84,654 SH   SOLE   83,754 0 900
Entercom Communications Corp. CL A 293639100 6,246 620,241 SH   SOLE   620,241 0 0
Equifax Inc. COM 294429105 203,745 2,994,932 SH   SOLE   2,531,436 0 463,496
Expedia Inc. COM 30212P303 51,081 704,570 SH   SOLE   480,272 0 224,298
Expeditors International of Washington, Inc. COM 302130109 962 24,265 SH   SOLE   23,563 0 702
Federated Investors Inc. CL B 314211103 49,223 1,611,756 SH   SOLE   1,103,739 0 508,017
FirstService Corp. SUB VTG SH 33761N109 8,083 170,200 SH   SOLE   170,200 0 0
FXCM Inc. CL A 302693106 43,948 2,975,463 SH   SOLE   1,990,090 0 985,373
General Electric Co. COM 369604103 1,295 50,000 SH   SOLE   50,000 0 0
Gentex Corp. COM 371901109 97,617 3,096,013 SH   SOLE   2,135,123 0 960,890
GlaxoSmithKline PLC SPONSORED ADR 37733W105 474 8,867 SH   SOLE   8,867 0 0
Google Inc. CL A 38259P508 101,359 90,945 SH   SOLE   89,537 0 1,408
Graco Inc. COM 384109104 39,724 531,492 SH   SOLE   352,096 0 179,396
Harris Corp. COM 413875105 10,074 137,697 SH   SOLE   134,141 0 3,556
HCC Insurance Holdings Inc. COM 404132102 67,546 1,484,849 SH   SOLE   928,622 0 556,227
Hilltop Holdings Inc. COM 432748101 110,498 4,644,735 SH   SOLE   2,943,175 0 1,701,560
Humana Inc. COM 444859102 112,386 997,034 SH   SOLE   981,552 0 15,482
Imperial Oil Ltd. COM 453038408 95,945 2,060,291 SH   SOLE   2,052,191 0 8,100
Jacobs Engineering Group Inc. COM 469814107 4,983 78,475 SH   SOLE   76,211 0 2,264
Johnson & Johnson COM 478160104 273,875 2,793,896 SH   SOLE   2,765,963 0 27,933
JTH Holding Inc. CL A 46637N103 432 15,586 SH   SOLE   15,586 0 0
Kayne Anderson Energy Development Co. COM 48660Q102 28,119 909,719 SH   SOLE   588,936 0 320,783
Kraft Foods Group Inc. COM 50076Q106 842 15,000 SH   SOLE   15,000 0 0
Laboratory Corporation of America Holdings COM 50540R409 6,591 67,107 SH   SOLE   65,184 0 1,923
Leucadia National Corp. COM 527288104 163,398 5,835,626 SH   SOLE   5,013,233 0 822,393
LoJack Corp. COM 539451104 618 108,469 SH   SOLE   108,469 0 0
Lorillard Inc. COM 544147101 123,169 2,277,541 SH   SOLE   2,240,422 0 37,119
M&T Bank Corp. COM 55261F104 222 1,831 SH   SOLE   1,831 0 0
Madison Square Garden Co. COM 55826P100 40,506 713,392 SH   SOLE   673,808 0 39,584
MarketAxess Holdings Inc. COM 57060D108 92,838 1,567,675 SH   SOLE   946,042 0 621,633
McCormick & Co., Inc. COM 579780206 3,820 53,243 SH   SOLE   53,243 0 0
McDonald's Corp. COM 580135101 2,711 27,657 SH   SOLE   27,657 0 0
Merck & Co., Inc. COM 58933Y105 544 9,589 SH   SOLE   9,589 0 0
MICROS Systems Inc. COM 594901100 50,575 955,498 SH   SOLE   676,055 0 279,443
Microsoft Corp. COM 594918104 115,171 2,809,739 SH   SOLE   2,770,818 0 38,921
Mondelez International Inc. COM 609207105 518 15,000 SH   SOLE   15,000 0 0
Moody's Corp. COM 615369105 3,279 41,337 SH   SOLE   40,240 0 1,097
Morgan Stanley COM 617446448 614 19,694 SH   SOLE   19,694 0 0
MSCI Inc. COM 55354G100 73,344 1,704,874 SH   SOLE   1,159,002 0 545,872
Northern Trust Corp. COM 665859104 121,419 1,852,028 SH   SOLE   1,826,117 0 25,911
Novartis AG SPONSORED ADR 66987V109 685 8,060 SH   SOLE   8,060 0 0
Nutraceutical International Corp. COM 67060Y101 27,011 1,039,276 SH   SOLE   660,098 0 379,178
Occidental Petroleum Corp. COM 674599105 212,078 2,223,720 SH   SOLE   2,201,752 0 21,968
Oracle Corp. COM 68389X105 229,166 5,658,881 SH   SOLE   5,598,291 0 60,590
Penske Auto Group Inc. COM 70959W103 92,753 2,169,150 SH   SOLE   1,411,713 0 757,437
PepsiCo Inc. COM 713448108 165,026 1,980,859 SH   SOLE   1,962,470 0 18,389
Pfizer Inc. COM 717081103 741 23,070 SH   SOLE   23,070 0 0
Philip Morris International Inc. COM 718172109 232,815 2,852,560 SH   SOLE   2,819,842 0 32,718
Potash Corporation of Saskatchewan Inc. COM 73755L107 266,137 7,356,949 SH   SOLE   7,265,049 0 91,900
Primerica Inc. COM 74164M108 90,704 1,925,374 SH   SOLE   1,304,733 0 620,641
Procter & Gamble Co. COM 742718109 88,552 1,098,664 SH   SOLE   1,082,936 0 15,728
Qualcomm Inc. COM 747525103 127,476 1,616,479 SH   SOLE   1,591,430 0 25,049
RE/MAX Holdings Inc. COM 75524W108 20,241 702,069 SH   SOLE   474,922 0 227,147
Ritchie Bros. Auctioneers Inc. COM 767744105 237,851 9,857,075 SH   SOLE   9,751,046 0 106,029
Rogers Communications Inc., CL B 775109200 94,134 2,271,594 SH   SOLE   2,239,554 0 32,040
Royal Bank of Canada COM 780087102 196,083 2,973,822 SH   SOLE   2,931,722 0 42,100
Shaw Communications Inc. CL B 82028K200 156,744 6,563,404 SH   SOLE   6,483,004 0 80,400
Solera Holdings Inc. COM 83421A104 38,352 605,488 SH   SOLE   397,779 0 207,709
SS&C Technologies Holdings Inc. COM 78467J100 25,127 627,859 SH   SOLE   460,043 0 167,816
Strayer Education Inc. COM 863236105 21,169 455,944 SH   SOLE   346,628 0 109,316
Synnex Corp. COM 87162W100 63,667 1,050,437 SH   SOLE   722,463 0 327,974
Talisman Energy Inc. COM 87425E103 160 16,100 SH   SOLE   16,100 0 0
Tech Data Corp. COM 878237106 51,738 848,720 SH   SOLE   490,721 0 357,999
Teleflex Inc. COM 879369106 58,917 549,397 SH   SOLE   369,059 0 180,338
TeleTech Holdings Inc. COM 879939106 3,972 162,053 SH   SOLE   157,264 0 4,789
Thomson Reuters Corp. COM 884903105 192,582 5,633,538 SH   SOLE   5,571,552 0 61,986
Toronto-Dominion Bank COM 891160509 191,802 4,090,872 SH   SOLE   4,031,526 0 59,346
Tronox Ltd. CL A Q9235V101 30,492 1,282,778 SH   SOLE   1,160,044 0 122,734
U.S. Concrete Inc. COM 90333L201 427 18,161 SH   SOLE   18,161 0 0
Union Pacific Corp. COM 907818108 207,570 1,112,152 SH   SOLE   1,100,840 0 11,312
United Technologies Corp. COM 913017109 197,346 1,698,026 SH   SOLE   1,679,750 0 18,276
Walgreen Co. COM 931422109 85,088 1,288,620 SH   SOLE   1,268,831 0 19,789
Wal-Mart Stores Inc. COM 931142103 1,146 15,000 SH   SOLE   15,000 0 0
Weight Watchers International Inc. COM 948626106 21,644 1,053,756 SH   SOLE   735,873 0 317,883
Western Union Co. COM 959802109 97,911 5,984,774 SH   SOLE   5,892,536 0 92,238
White Mountains Insurance Group Ltd. COM G9618E107 4,165 6,943 SH   SOLE   6,743 0 200