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 79,037 45,512 SH   SOLE   42,819 0 2,693
Abiomed Inc COMMON 003654100 21,408 120,343 SH   SOLE   113,175 0 7,168
Alleghany Corp COMMON 017175100 60,341 75,655 SH   SOLE   70,981 0 4,674
Barrick Gold Corporation COMMON 067901108 105,200 6,067,931 SH   SOLE   2,101,905 0 3,966,026
American Express Co COMMON 025816109 123,607 1,045,070 SH   SOLE   981,768 0 63,302
Aflac Inc COMMON 001055102 61,662 1,178,586 SH   SOLE   1,105,917 0 72,669
Analog Devices Inc COMMON 032654105 72,560 649,439 SH   SOLE   612,258 0 37,181
Applied Materials Inc COMMON 038222105 91,935 1,842,384 SH   SOLE   1,732,546 0 109,838
Archer-Daniels-Midland Co COMMON 039483102 125,767 3,062,337 SH   SOLE   2,873,516 0 188,821
Autozone Inc COMMON 053332102 53,160 49,019 SH   SOLE   46,214 0 2,805
Berkshire Hathaway Inc COMMON 084670702 163,899 787,816 SH   SOLE   739,970 0 47,846
Bancolombia Sa -Pref COMMON 05968L102 37,043 744,113 SH   SOLE   0 0 744,113
Baxter International Inc COMMON 071813109 52,568 599,467 SH   SOLE   562,450 0 37,017
Brookfield Asset Management Inc Cl A COMMON 112585104 145,156 2,731,496 SH   SOLE   2,518,037 0 213,459
Pricesmart Inc COMMON 741511109 19,926 280,250 SH   SOLE   270,481 0 9,769
Taiwan Semiconductor Manufacturing Co Ltd COMMON 874039100 7,137 152,686 SH   SOLE   0 0 152,686
C H Robinson Worldwide Inc COMMON 12541W209 102,679 1,211,135 SH   SOLE   1,141,020 0 70,115
Rogers Communications Inc COMMON 775109200 15,799 321,140 SH   SOLE   291,144 0 29,996
Canadian Natural Resources Co COMMON 136385101 99,096 3,680,321 SH   SOLE   3,461,484 0 218,837
Coca Cola Co COMMON 191216100 113,491 2,069,065 SH   SOLE   1,941,294 0 127,771
Ctrip.com International ADR COMMON 22943F100 26,942 919,850 SH   SOLE   0 0 919,850
Colgate Palmolive Co COMMON 194162103 80,173 1,090,657 SH   SOLE   1,028,100 0 62,557
Compania De Minas Buenaventura Spon ADR COMMON 204448104 15,434 1,016,780 SH   SOLE   0 0 1,016,780
Compania Cervecerias Unidas ADR COMMON 204429104 129 5,823 SH   SOLE   0 0 5,823
Gildan Activewear Inc COMMON 375916103 38,483 1,083,344 SH   SOLE   1,005,494 0 77,850
Omnicom Group Inc COMMON 681919106 62,980 797,604 SH   SOLE   749,851 0 47,753
Electronic Arts Inc COMMON 285512109 29,282 299,360 SH   SOLE   281,660 0 17,700
Expeditors Intl Wash Inc COMMON 302130109 73,279 986,447 SH   SOLE   930,023 0 56,424
Fastenal Co COMMON 311900104 53,938 1,651,054 SH   SOLE   1,553,412 0 97,642
M & T Bank Corp COMMON 55261F104 18,179 115,077 SH   SOLE   108,253 0 6,824
Ritchie Bros Auctioneers COMMON 767744105 63,885 1,600,838 SH   SOLE   1,476,457 0 124,381
Freeport-McMoran Inc COMMON 35671D857 16,785 1,753,957 SH   SOLE   1,690,630 0 63,327
Entercom Communications Corp Cl A COMMON 293639100 17,418 5,214,918 SH   SOLE   4,893,426 0 321,492
Grupo Televisa Sa-Spons Adr COMMON 40049J206 15,026 1,536,363 SH   SOLE   0 0 1,536,363
Harley Davidson Inc COMMON 412822108 38,575 1,072,465 SH   SOLE   1,000,035 0 72,430
Kt Corp Spon ADR COMMON 48268K101 45,276 4,003,204 SH   SOLE   0 0 4,003,204
The Hershey Company COMMON 427866108 39,935 257,675 SH   SOLE   242,393 0 15,282
Intel Corp COMMON 458140100 175,754 3,410,794 SH   SOLE   3,207,309 0 203,485
Rayonier Inc COMMON 754907103 44,046 1,561,737 SH   SOLE   1,491,191 0 70,546
Johnson and Johnson COMMON 478160104 253,820 1,961,786 SH   SOLE   1,845,287 0 116,499
Hartford Financial SVCS Group Inc COMMON 416515104 133,262 2,187,880 SH   SOLE   2,059,710 0 128,170
Kimberly-Clark Corp COMMON 494368103 44,812 313,126 SH   SOLE   294,625 0 18,501
Lincoln Electric Holdings Inc COMMON 533900106 23,781 272,545 SH   SOLE   256,373 0 16,172
United Parcel Services Cl B COMMON 911312106 89,824 749,682 SH   SOLE   704,043 0 45,639
Loews Corp COMMON 540424108 115,835 2,250,095 SH   SOLE   2,111,125 0 138,970
Magna International Inc COMMON 559222401 18,379 344,533 SH   SOLE   312,466 0 32,067
Markel Corp COMMON 570535104 50,982 43,142 SH   SOLE   40,591 0 2,551
Maxim Integrated Products Inc COMMON 57772K101 64,835 1,119,602 SH   SOLE   1,055,534 0 64,068
Activision Blizzard Inc COMMON 00507V109 29,644 560,187 SH   SOLE   527,068 0 33,119
3M Co COMMON 88579Y101 77,013 468,493 SH   SOLE   441,672 0 26,821
National Oilwell Varco Inc COMMON 637071101 49,474 2,333,691 SH   SOLE   2,189,796 0 143,895
Wells Fargo COMMON 949746101 271,170 5,376,096 SH   SOLE   5,057,111 0 318,985
Oracle Corp COMMON 68389X105 255,876 4,649,860 SH   SOLE   4,372,003 0 277,857
Paccar Inc COMMON 693718108 28,467 406,608 SH   SOLE   382,588 0 24,020
Paychex Inc COMMON 704326107 71,153 859,671 SH   SOLE   810,478 0 49,193
Pepsico Inc COMMON 713448108 42,902 312,923 SH   SOLE   294,433 0 18,490
PPG Industries Inc COMMON 693506107 77,847 656,898 SH   SOLE   617,194 0 39,704
IPG Photonics Corp COMMON 44980X109 17,519 129,198 SH   SOLE   121,757 0 7,441
Costco Wholesale Corp COMMON 22160K105 63,283 219,650 SH   SOLE   206,091 0 13,559
Price T Rowe Group COMMON 74144T108 20,459 179,069 SH   SOLE   168,785 0 10,284
Procter & Gamble Co COMMON 742718109 173,980 1,398,801 SH   SOLE   1,316,176 0 82,625
US Bancorp COMMON 902973304 182,129 3,266,155 SH   SOLE   3,075,402 0 190,753
Royal Bank of Canada COMMON 780087102 23,857 293,796 SH   SOLE   266,454 0 27,342
Travelers Companies Inc COMMON 89417E109 187,189 1,258,881 SH   SOLE   1,186,292 0 72,589
Merck & Co Inc COMMON 58933Y105 188,959 2,229,827 SH   SOLE   2,096,974 0 132,853
Bunge Ltd COMMON G16962105 109,492 1,933,600 SH   SOLE   1,814,376 0 119,224
Canadian Pacific Railway Ltd COMMON 13645T100 38,612 173,172 SH   SOLE   157,049 0 16,123
Tanger Factory Outlet Center COMMON 875465106 38,494 2,486,925 SH   SOLE   2,374,689 0 112,236
Texas Instruments Inc COMMON 882508104 209,118 1,618,059 SH   SOLE   1,524,806 0 93,253
Toronto-Dominion Bank COMMON 891160509 24,769 424,446 SH   SOLE   384,947 0 39,499
Union Pacific Corp COMMON 907818108 73,283 452,422 SH   SOLE   426,534 0 25,888
United Technologies Corp COMMON 913017109 66,674 488,392 SH   SOLE   475,260 0 13,132
Waters Corp COMMON 941848103 102,823 460,613 SH   SOLE   434,000 0 26,613
Weyerhaeuser Co COMMON 962166104 43,697 1,577,598 SH   SOLE   1,506,331 0 71,267
Williams-Sonoma Inc COMMON 969904101 25,912 381,162 SH   SOLE   357,630 0 23,532
Wolverine World Wide Inc COMMON 978097103 22,240 784,177 SH   SOLE   735,678 0 48,499
Carmax Inc COMMON 143130102 89,744 1,019,805 SH   SOLE   958,010 0 61,795
Xilinx Inc COMMON 983919101 11,849 123,558 SH   SOLE   116,220 0 7,338
TJX Companies Inc COMMON 872540109 51,875 930,657 SH   SOLE   875,414 0 55,243
Marketaxess Holdings Inc COMMON 57060D108 35,416 108,145 SH   SOLE   101,728 0 6,417
Dolby Laboratories Inc COMMON 25659T107 41,699 645,101 SH   SOLE   606,981 0 38,120
Baidu Inc - Spon ADR COMMON 056752108 155,529 1,513,513 SH   SOLE   0 0 1,513,513
Bce Inc COMMON 05534B760 23,231 474,196 SH   SOLE   430,065 0 44,131
Bank of New York Mellon Corp COMMON 064058100 68,635 1,518,172 SH   SOLE   1,431,185 0 86,987
Genpact Ltd COMMON G3922B107 40,348 1,041,248 SH   SOLE   957,243 0 84,005
Ulta Beauty Inc COMMON 90384S303 18,123 72,302 SH   SOLE   68,010 0 4,292
Franco-Nevada Corp COMMON 351858105 21,301 233,591 SH   SOLE   211,848 0 21,743
Chubb Ltd COMMON H1467J104 97,812 602,978 SH   SOLE   568,463 0 34,515
Accenture Plc COMMON G1151C101 44,941 233,649 SH   SOLE   220,287 0 13,362
Visteon Corp COMMON 92839U206 49,540 600,203 SH   SOLE   563,153 0 37,050
First Republic Bank COMMON 33616C100 44,533 460,539 SH   SOLE   431,943 0 28,596
TE Connectivity Ltd COMMON H84989104 65,994 708,242 SH   SOLE   664,536 0 43,706
Globus Medical Inc A COMMON 379577208 36,978 723,367 SH   SOLE   680,622 0 42,745
Facebook Inc A COMMON 30303M102 139,529 783,518 SH   SOLE   736,200 0 47,318
Booking Holdings Inc COMMON 09857L108 188,722 96,163 SH   SOLE   90,594 0 5,569
Eventbrite Inc - Class A COMMON 29975E109 16,284 919,618 SH   SOLE   864,830 0 54,788
Now Inc COMMON 67011P100 12,261 1,068,990 SH   SOLE   1,005,590 0 63,400
Axalta Coating Systems Ltd COMMON G0750C108 41,358 1,371,742 SH   SOLE   1,287,006 0 84,736
Coca-Cola European Partners COMMON G25839104 66,270 1,195,515 SH   SOLE   1,106,025 0 89,490
Alphabet Inc. - Class A COMMON 02079K305 182,520 149,473 SH   SOLE   140,637 0 8,836
PayPal Holdings Inc. COMMON 70450Y103 55,386 534,665 SH   SOLE   501,672 0 32,993
Yum China Holdings Inc COMMON 98850P109 99,539 2,191,066 SH   SOLE   2,043,163 0 147,903
Alphabet Inc - Class C COMMON 02079K107 129,007 105,835 SH   SOLE   99,514 0 6,321
Univar Solutions Inc COMMON 91336L107 28,400 1,368,022 SH   SOLE   1,283,563 0 84,459
Linde PLC COMMON G5494J103 36,365 187,730 SH   SOLE   176,590 0 11,140