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
Abiomed Inc COMMON 003654100 49,602 158,930 SH   SOLE   155,353 0 3,577
Alleghany Corp COMMON 017175100 27,479 41,194 SH   SOLE   40,059 0 1,135
Barrick Gold Corp COMMON 067901108 75,385 3,645,096 SH   SOLE   2,773,807 0 871,289
American Express Co COMMON 025816109 153,156 926,919 SH   SOLE   904,016 0 22,903
Analog Devices Inc COMMON 032654105 75,353 437,695 SH   SOLE   427,288 0 10,407
Archer-Daniels-Midland Co. COMMON 039483102 123,227 2,033,482 SH   SOLE   1,980,868 0 52,614
Automatic Data Processing COMMON 053015103 49,257 246,889 SH   SOLE   241,028 0 5,861
Autozone Inc COMMON 053332102 181,035 121,326 SH   SOLE   118,380 0 2,946
Berkshire Hathaway Inc COMMON 084670702 182,219 655,688 SH   SOLE   640,080 0 15,608
Bank of Nova Scotia COMMON 064149107 39,914 613,075 SH   SOLE   416,075 0 197,000
Bancolombia Sa -Pref COMMON 05968L102 19,451 673,863 SH   SOLE   596,910 0 76,953
Brookfield Asset Manage-CL A COMMON 112585104 148,970 2,916,112 SH   SOLE   2,073,157 0 842,955
Pricesmart Inc COMMON 741511109 22,141 243,280 SH   SOLE   213,936 0 29,344
Taiwan Semiconductor Manufacturing Co Ltd COMMON 874039100 17,761 147,371 SH   SOLE   144,277 0 3,094
C H Robinson Worldwide Inc COMMON 12541W209 109,046 1,159,021 SH   SOLE   1,131,729 0 27,292
Rogers Communications Inc COMMON 775109200 25,034 467,877 SH   SOLE   317,633 0 150,244
Canadian Natural Resources COMMON 136385101 118,857 3,254,298 SH   SOLE   2,553,985 0 700,313
Colgate Palmolive Co COMMON 194162103 41,436 509,376 SH   SOLE   497,258 0 12,118
Fomento Economico Mexicano Spon ADR COMMON 344419106 68,912 815,436 SH   SOLE   0 0 815,436
Gildan Activewear Inc COMMON 375916103 73,749 1,996,820 SH   SOLE   1,729,068 0 267,752
Omnicom Group COMMON 681919106 33,631 416,935 SH   SOLE   406,996 0 9,939
Citigroup Inc COMMON 172967424 48,726 688,728 SH   SOLE   672,562 0 16,166
Electronic Arts Inc COMMON 285512109 137,627 956,876 SH   SOLE   933,630 0 23,246
Expeditors Intl Wash Inc COMMON 302130109 61,163 483,138 SH   SOLE   471,640 0 11,498
Fastenal Co COMMON 311900104 96,175 1,849,576 SH   SOLE   1,807,386 0 42,190
M & T Bank Corp COMMON 55261F104 75,256 517,897 SH   SOLE   506,215 0 11,682
Ritchie Bros Auctioneers COMMON 767744105 73,849 1,244,349 SH   SOLE   925,467 0 318,882
FTI Consulting Inc COMMON 302941109 118,502 867,451 SH   SOLE   845,433 0 22,018
Freeport-McMoran Inc COMMON 35671D857 20,347 548,304 SH   SOLE   484,626 0 63,678
Grupo Televisa Sa-Spons Adr COMMON 40049J206 26,490 1,855,066 SH   SOLE   0 0 1,855,066
Healthcare Services Group COMMON 421906108 49,081 1,554,624 SH   SOLE   1,513,813 0 40,811
KT Corp ADR COMMON 48268K101 19,507 1,398,364 SH   SOLE   0 0 1,398,364
The Hershey Company COMMON 427866108 166,999 958,778 SH   SOLE   936,859 0 21,919
Intel Corp COMMON 458140100 56,263 1,002,224 SH   SOLE   978,322 0 23,902
Rayonier Inc COMMON 754907103 33,569 934,308 SH   SOLE   919,760 0 14,548
Johnson and Johnson COMMON 478160104 251,563 1,527,037 SH   SOLE   1,489,996 0 37,041
Hartford Financial SVCS Group Inc COMMON 416515104 72,903 1,170,115 SH   SOLE   1,142,281 0 27,834
Kimberly-Clark Corp COMMON 494368103 127,826 951,658 SH   SOLE   928,143 0 23,515
United Parcel Services Cl B COMMON 911312106 105,561 507,574 SH   SOLE   495,032 0 12,542
Loews Corp COMMON 540424108 39,774 727,797 SH   SOLE   708,050 0 19,747
Magna International Inc COMMON 559222401 38,488 415,260 SH   SOLE   282,146 0 133,114
Markel Corp COMMON 570535104 93,537 78,820 SH   SOLE   76,946 0 1,874
Marsh & Mclennan COMMON 571748102 66,923 475,713 SH   SOLE   464,363 0 11,350
Maxim Integrated Products COMMON 57772K101 76,047 721,779 SH   SOLE   704,585 0 17,194
Activision Blizzard COMMON 00507V109 97,633 1,022,977 SH   SOLE   1,000,906 0 22,071
3M Co COMMON 88579Y101 30,062 151,351 SH   SOLE   147,775 0 3,576
Wells Fargo COMMON 949746101 80,925 1,786,851 SH   SOLE   1,744,275 0 42,576
Oracle Corp COMMON 68389X105 305,474 3,924,422 SH   SOLE   3,829,010 0 95,412
Paccar Inc COMMON 693718108 73,056 818,559 SH   SOLE   798,333 0 20,226
Paychex Inc COMMON 704326107 68,808 641,288 SH   SOLE   625,990 0 15,298
Pepsico Inc COMMON 713448108 103,849 700,903 SH   SOLE   683,584 0 17,319
Procter & Gamble COMMON 742718109 76,098 563,991 SH   SOLE   550,612 0 13,379
Progressive Corp COMMON 743315103 102,724 1,045,967 SH   SOLE   1,020,122 0 25,845
Travelers Companies Inc COMMON 89417E109 179,691 1,200,258 SH   SOLE   1,172,255 0 28,003
Merck & Co Inc COMMON 58933Y105 172,887 2,205,162 SH   SOLE   2,151,481 0 53,681
Bunge Ltd COMMON G16962105 52,644 673,630 SH   SOLE   654,648 0 18,982
Canadian Pacific Railway Ltd COMMON 13645T100 80,515 1,043,977 SH   SOLE   709,330 0 334,647
Tanger Factory Outlet Center COMMON 875465106 22,260 1,180,918 SH   SOLE   1,161,460 0 19,458
Texas Instruments Inc COMMON 882508104 239,842 1,247,250 SH   SOLE   1,217,042 0 30,208
Union Pacific Corp COMMON 907818108 62,110 282,416 SH   SOLE   275,702 0 6,714
Waters Corp COMMON 941848103 148,721 430,356 SH   SOLE   420,042 0 10,314
Wabtec Corp COMMON 929740108 10,538 128,049 SH   SOLE   123,212 0 4,837
Weyerhaeuser Co COMMON 962166104 3,384 98,329 SH   SOLE   90,615 0 7,714
CME Group Inc COMMON 12572Q105 45,471 213,807 SH   SOLE   208,733 0 5,074
Carmax Inc COMMON 143130102 138,149 1,069,676 SH   SOLE   1,043,245 0 26,431
TJX Companies Inc COMMON 872540109 146,838 2,177,959 SH   SOLE   2,124,143 0 53,816
Marketaxess Holdings COMMON 57060D108 57,385 123,785 SH   SOLE   121,013 0 2,772
Dolby Laboratories Inc-CL A COMMON 25659T107 58,091 591,017 SH   SOLE   576,760 0 14,257
Dexcom Inc COMMON 252131107 58,112 136,094 SH   SOLE   132,732 0 3,362
Baidu Inc - Spon ADR COMMON 056752108 185,928 911,874 SH   SOLE   0 0 911,874
Bce Inc COMMON 05534B760 28,499 571,490 SH   SOLE   388,309 0 183,181
Bank of New York Mellon Corp COMMON 064058100 59,220 1,155,983 SH   SOLE   1,128,606 0 27,377
Genpact Ltd COMMON G3922B107 82,615 1,818,508 SH   SOLE   1,697,792 0 120,716
Franco-Nevada Corp COMMON 351858105 52,323 360,175 SH   SOLE   244,462 0 115,713
Chubb Ltd COMMON H1467J104 37,867 237,057 SH   SOLE   231,405 0 5,652
Visteon Corp. COMMON 92839U206 24,571 203,197 SH   SOLE   197,646 0 5,551
First Republic Bank COMMON 33616C100 129,427 691,538 SH   SOLE   675,467 0 16,071
Kar Auction Services Inc COMMON 48238T109 72,389 4,124,745 SH   SOLE   4,017,110 0 107,635
TE Connectivity Ltd COMMON H84989104 2,101 15,536 SH   SOLE   13,819 0 1,717
Globus Medical Inc A COMMON 379577208 61,151 788,749 SH   SOLE   769,813 0 18,936
Facebook Inc A COMMON 30303M102 237,472 682,961 SH   SOLE   666,086 0 16,875
Booking Holdings Inc. COMMON 09857L108 299,782 137,017 SH   SOLE   133,684 0 3,333
Huya Inc COMMON 44852D108 160 9,038 SH   SOLE   9,038 0 0
Eventbrite Inc - Class A COMMON 29975E109 34,430 1,812,425 SH   SOLE   1,769,581 0 42,844
Autohome Inc - Class A COMMON 05278C107 213 3,330 SH   SOLE   3,330 0 0
Ctrip.com International ADR COMMON 89677Q107 23,638 666,613 SH   SOLE   0 0 666,613
Inmode Ltd COMMON M5425M103 367 3,871 SH   SOLE   3,871 0 0
Organon & Co COMMON 68622V106 4,216 139,315 SH   SOLE   135,782 0 3,533
Aon Plc COMMON G0403H108 60,336 252,719 SH   SOLE   246,705 0 6,014
National Oilwell Varco COMMON 62955J103 12,476 814,382 SH   SOLE   783,227 0 31,155
Arista Networks Inc COMMON 040413106 53,382 147,342 SH   SOLE   143,711 0 3,631
Axalta Coating Systems Ltd COMMON G0750C108 9,047 296,732 SH   SOLE   286,355 0 10,377
MOMO Inc ADR COMMON 60879B107 55 3,598 SH   SOLE   0 0 3,598
Coca-Cola Europacific Partners plc COMMON G25839104 107,668 1,815,705 SH   SOLE   1,676,281 0 139,424
Alphabet Inc. - Class A COMMON 02079K305 260,355 106,632 SH   SOLE   104,010 0 2,622
Yum China Holdings Inc COMMON 98850P109 150,896 2,277,674 SH   SOLE   2,176,242 0 101,432
Alphabet Inc. - Class C COMMON 02079K107 241,429 96,330 SH   SOLE   93,991 0 2,339
Linde PLC COMMON G5494J103 118,308 409,239 SH   SOLE   399,127 0 10,112