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
Amazon.com Inc COMMON 023135106 91,371 48,282 SH   SOLE   33,736 0 14,546
Alleghany Corp COMMON 017175100 54,536 80,079 SH   SOLE   56,292 0 23,787
Barrick Gold Corp COMMON 067901108 133,381 8,455,964 SH   SOLE   1,882,062 0 6,573,902
American Express Co COMMON 025816109 136,664 1,107,110 SH   SOLE   776,207 0 330,903
Aflac Inc COMMON 001055102 88,951 1,622,926 SH   SOLE   1,141,132 0 481,794
Analog Devices Inc COMMON 032654105 74,829 663,062 SH   SOLE   464,814 0 198,248
Applied Materials Inc COMMON 038222105 86,671 1,929,880 SH   SOLE   1,353,629 0 576,251
Archer-Daniels-Midland Co. COMMON 039483102 122,018 2,990,631 SH   SOLE   2,102,714 0 887,917
Autozone Inc COMMON 053332102 55,014 50,046 SH   SOLE   35,086 0 14,960
Berkshire Hathaway Inc COMMON 084670702 119,830 562,165 SH   SOLE   393,914 0 168,251
Bancolombia Sa -Pref COMMON 05968L102 38,633 752,007 SH   SOLE   529,918 0 222,089
Baxter International Inc COMMON 071813109 52,096 634,464 SH   SOLE   446,083 0 188,381
Brookfield Asset Manage-CL A COMMON 112585104 143,793 2,998,061 SH   SOLE   2,131,413 0 866,648
Pricesmart Inc COMMON 741511109 14,603 285,677 SH   SOLE   206,747 0 78,930
Taiwan Semiconductor Manufacturing Co Ltd COMMON 874039100 6,174 152,686 SH   SOLE   0 0 152,686
C H Robinson Worldwide Inc COMMON 12541W209 59,888 710,006 SH   SOLE   497,719 0 212,287
Rogers Communications Inc COMMON 775109200 19,673 363,527 SH   SOLE   260,882 0 102,645
Canadian Natural Resources COMMON 136385101 110,200 4,034,605 SH   SOLE   2,913,996 0 1,120,609
Coca Cola Co COMMON 191216100 112,437 2,191,456 SH   SOLE   1,540,581 0 650,875
Ctrip.com International ADR COMMON 22943F100 35,514 962,175 SH   SOLE   681,278 0 280,897
Colgate Palmolive Co COMMON 194162103 79,806 1,113,618 SH   SOLE   780,309 0 333,309
CIA De Minas Buenaventura ADR COMMON 204448104 17,142 1,028,302 SH   SOLE   0 0 1,028,302
CIA Cervecerias Unidas ADR COMMON 204429104 235 8,330 SH   SOLE   0 0 8,330
Gildan Activewear Inc COMMON 375916103 45,555 1,174,639 SH   SOLE   832,173 0 342,466
Omnicom Group COMMON 681919106 68,652 831,298 SH   SOLE   583,718 0 247,580
Electronic Arts Inc COMMON 285512109 32,156 317,563 SH   SOLE   221,897 0 95,666
Expeditors Intl Wash Inc COMMON 302130109 64,931 855,933 SH   SOLE   600,038 0 255,895
Fastenal Co COMMON 311900104 57,081 1,751,542 SH   SOLE   1,223,900 0 527,642
M & T Bank Corp COMMON 55261F104 20,756 122,047 SH   SOLE   85,289 0 36,758
Ritchie Bros Auctioneers COMMON 767744105 58,470 1,753,526 SH   SOLE   1,246,102 0 507,424
Entercom Communications Corp COMMON 293639100 21,256 3,666,330 SH   SOLE   2,577,758 0 1,088,572
Grupo Televisa Sa-Spons Adr COMMON 40049J206 13,152 1,558,336 SH   SOLE   0 0 1,558,336
Harley Davidson Inc COMMON 412822108 41,019 1,144,942 SH   SOLE   890,429 0 254,513
Kt Corp Spon ADR COMMON 48268K101 52,630 4,254,564 SH   SOLE   0 0 4,254,564
The Hershey Company COMMON 427866108 134,308 1,002,212 SH   SOLE   702,377 0 299,835
Intel Corp COMMON 458140100 170,043 3,552,186 SH   SOLE   2,494,039 0 1,058,147
Rayonier Inc COMMON 754907103 51,301 1,693,034 SH   SOLE   1,113,217 0 579,817
Johnson and Johnson COMMON 478160104 285,059 2,047,022 SH   SOLE   1,435,723 0 611,299
Hartford Financial SVCS GRP COMMON 416515104 126,476 2,258,312 SH   SOLE   1,584,589 0 673,723
Kimberly-Clark Corp COMMON 494368103 44,609 332,195 SH   SOLE   232,131 0 100,064
Lincoln Electric Holdings COMMON 533900106 23,936 289,117 SH   SOLE   202,510 0 86,607
United Parcel Services Cl B COMMON 911312106 82,037 794,412 SH   SOLE   557,360 0 237,052
Loews Corp COMMON 540424108 130,224 2,382,046 SH   SOLE   1,674,599 0 707,447
Magna International Inc COMMON 559222401 19,433 389,689 SH   SOLE   279,438 0 110,251
Markel Corp COMMON 570535104 49,838 45,767 SH   SOLE   31,982 0 13,785
Maxim Integrated Products COMMON 57772K101 68,377 1,143,088 SH   SOLE   801,472 0 341,616
Activision Blizzard COMMON 00507V109 28,048 594,240 SH   SOLE   415,255 0 178,985
3M Co COMMON 88579Y101 82,954 478,319 SH   SOLE   335,309 0 143,010
National Oilwell Varco COMMON 637071101 47,834 2,151,888 SH   SOLE   1,512,807 0 639,081
Wells Fargo Co COMMON 949746101 214,745 4,538,378 SH   SOLE   3,185,922 0 1,352,456
Oracle Corp COMMON 68389X105 265,927 4,669,094 SH   SOLE   3,275,345 0 1,393,749
Paccar Inc COMMON 693718108 30,910 431,346 SH   SOLE   301,425 0 129,921
Paychex Inc COMMON 704326107 72,227 877,709 SH   SOLE   615,296 0 262,413
Pepsico Inc COMMON 713448108 43,530 331,985 SH   SOLE   231,979 0 100,006
PPG Industries Inc COMMON 693506107 81,233 696,071 SH   SOLE   487,848 0 208,223
IPG Photonics Corp COMMON 44980X109 20,345 131,897 SH   SOLE   92,481 0 39,416
Costco Wholesale Corp COMMON 22160K105 61,470 232,625 SH   SOLE   163,560 0 69,065
Price T Rowe Group COMMON 74144T108 20,059 182,839 SH   SOLE   128,211 0 54,628
Procter & Gamble COMMON 742718109 190,098 1,734,031 SH   SOLE   1,216,585 0 517,446
US Bancorp COMMON 902973304 183,412 3,476,699 SH   SOLE   2,438,084 0 1,038,615
Royal Bank of Canada COMMON 780087102 26,474 332,300 SH   SOLE   238,287 0 94,013
Travelers Cos Inc COMMON 89417E109 201,970 1,350,779 SH   SOLE   946,213 0 404,566
Merck & Co Inc COMMON 58933Y105 195,858 2,321,040 SH   SOLE   1,629,746 0 691,294
Bunge Ltd COMMON G16962105 104,211 1,870,751 SH   SOLE   1,315,410 0 555,341
Canadian Pacific Railway Ltd COMMON 13645T100 46,353 195,879 SH   SOLE   140,445 0 55,434
Tanger Factory Outlet Center COMMON 875465106 37,902 2,338,177 SH   SOLE   1,536,797 0 801,380
Texas Instruments Inc COMMON 882508104 191,185 1,666,299 SH   SOLE   1,167,565 0 498,734
Toronto-Dominion Bank COMMON 891160509 28,116 480,072 SH   SOLE   344,259 0 135,813
Union Pacific Corp COMMON 907818108 78,114 461,914 SH   SOLE   323,881 0 138,033
United Technologies Corp COMMON 913017109 67,496 518,445 SH   SOLE   377,235 0 141,210
Waters Corp COMMON 941848103 102,329 475,437 SH   SOLE   332,979 0 142,458
Weyerhaeuser Co COMMON 962166104 45,047 1,710,414 SH   SOLE   1,124,677 0 585,737
Williams-Sonoma Inc COMMON 969904101 26,233 403,577 SH   SOLE   283,740 0 119,837
Wolverine World Wide Inc COMMON 978097103 22,941 830,127 SH   SOLE   583,623 0 246,504
Carmax Inc COMMON 143130102 98,186 1,130,844 SH   SOLE   792,584 0 338,260
Xilinx Inc COMMON 983919101 15,450 131,020 SH   SOLE   91,543 0 39,477
TJX Companies Inc COMMON 872540109 60,383 1,141,959 SH   SOLE   797,988 0 343,971
Marketaxess Holdings COMMON 57060D108 44,474 138,367 SH   SOLE   96,685 0 41,682
Dolby Laboratories Inc-CL A COMMON 25659T107 44,209 684,400 SH   SOLE   478,228 0 206,172
Baidu Inc - Spon ADR COMMON 056752108 132,987 1,133,149 SH   SOLE   800,893 0 332,256
Bce Inc COMMON 05534B760 24,778 536,343 SH   SOLE   384,605 0 151,738
Bank of New York Mellon Corp COMMON 064058100 68,439 1,550,270 SH   SOLE   1,086,781 0 463,489
Genpact Ltd COMMON G3922B107 42,300 1,110,582 SH   SOLE   953,658 0 156,924
Ulta Beauty Inc COMMON 90384S303 35,123 101,252 SH   SOLE   70,750 0 30,502
Franco-Nevada Corp COMMON 351858105 22,487 264,209 SH   SOLE   189,453 0 74,756
Chubb Ltd COMMON H1467J104 91,127 615,623 SH   SOLE   431,595 0 184,028
Accenture Plc COMMON G1151C101 44,087 238,614 SH   SOLE   167,306 0 71,308
Visteon Corp COMMON 92839U206 37,219 635,353 SH   SOLE   446,759 0 188,594
First Republic Bank/CA COMMON 33616C100 47,838 490,018 SH   SOLE   358,787 0 131,231
TE Connectivity Ltd COMMON H84989104 71,893 750,622 SH   SOLE   527,776 0 222,846
Globus Medical Inc A COMMON 379577208 32,464 767,432 SH   SOLE   536,249 0 231,183
Facebook Inc A COMMON 30303M102 160,287 830,514 SH   SOLE   582,115 0 248,399
Priceline.com Inc COMMON 09857L108 186,273 99,369 SH   SOLE   69,640 0 29,729
Now Inc COMMON 67011P100 16,732 1,133,661 SH   SOLE   792,111 0 341,550
Axalta Coating Systems Ltd COMMON G0750C108 43,238 1,452,354 SH   SOLE   1,020,922 0 431,432
Coca-Cola European Partners COMMON G25839104 71,196 1,261,021 SH   SOLE   931,050 0 329,971
Alphabet Inc. - Class A COMMON 02079K305 167,788 154,972 SH   SOLE   108,765 0 46,207
PayPal Holdings Inc. COMMON 70450Y103 64,850 566,588 SH   SOLE   398,392 0 168,196
Yum China Holdings Inc COMMON 98850P109 106,644 2,308,352 SH   SOLE   1,635,107 0 673,245
Alphabet Inc. - Class C COMMON 02079K107 121,352 112,272 SH   SOLE   78,566 0 33,706
Univar Inc COMMON 91336L107 31,920 1,448,183 SH   SOLE   1,018,242 0 429,941
Linde PLC COMMON G5494J103 70,488 351,035 SH   SOLE   245,590 0 105,445