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
3M CO COM 88579Y101 290,146 1,659,969 SH   SOLE   1,541,694 0 118,275
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 4,105 15,717 SH   SOLE   15,717 0 0
AGNICO EAGLE MINES LTD COM 008474108 481,298 6,838,305 SH   SOLE   6,559,758 0 278,547
ALAMOS GOLD INC NEW COM CL A 011532108 79,593 9,110,996 SH   SOLE   9,110,996 0 0
ALLEGHANY CORP DEL COM 017175100 378,433 626,867 SH   SOLE   581,751 0 45,116
ALPHABET INC CAP STK CL C 02079K107 502,868 287,045 SH   SOLE   259,103 0 27,942
ALPHABET INC CAP STK CL A 02079K305 348,069 198,597 SH   SOLE   191,452 0 7,145
AMBEV SA SPONSORED ADR 02319V103 669,758 218,875,028 SH   SOLE   206,449,673 0 12,425,355
AMERICAN EXPRESS CO COM 025816109 621,450 5,139,776 SH   SOLE   4,734,006 0 405,770
ANALOG DEVICES INC COM 032654105 589,860 3,992,822 SH   SOLE   3,730,804 0 262,018
ANGLOGOLD ASHANTI LIMITED SPONSORED ADR 035128206 29,095 1,286,240 SH   SOLE   1,286,240 0 0
ANTHEM INC COM 036752103 652,569 2,032,355 SH   SOLE   1,885,173 0 147,182
B2GOLD CORP COM 11777Q209 98,654 17,612,461 SH   SOLE   17,612,461 0 0
BANK NEW YORK MELLON CORP COM 064058100 774,998 18,261,038 SH   SOLE   16,903,818 0 1,357,220
BARRICK GOLD CORP COM 067901108 610,805 26,813,211 SH   SOLE   25,626,919 0 1,186,292
BECTON DICKINSON & CO COM 075887109 63,220 252,658 SH   SOLE   237,297 0 15,361
BERKLEY W R CORP COM 084423102 378,887 5,704,411 SH   SOLE   5,302,307 0 402,104
BERKSHIRE HATHAWAY INC DEL CL A 084670108 383,292 1,102 SH   SOLE   1,023 0 79
BOOKING HOLDINGS INC COM 09857L108 524,257 235,381 SH   SOLE   217,171 0 18,210
BOSTON PROPERTIES INC COM 101121101 236,377 2,500,553 SH   SOLE   2,317,953 0 182,600
BRITISH AMERN TOB PLC SPONSORED ADR 110448107 31 835 SH   SOLE   835 0 0
BROWN & BROWN INC COM 115236101 396,098 8,354,734 SH   SOLE   7,753,150 0 601,584
C H ROBINSON WORLDWIDE INC COM NEW 12541W209 991,140 10,558,642 SH   SOLE   9,732,757 0 825,885
COLGATE PALMOLIVE CO COM 194162103 1,023,146 11,965,225 SH   SOLE   11,141,100 0 824,125
COMCAST CORP NEW CL A 20030N101 1,592,035 30,382,352 SH   SOLE   27,993,171 0 2,389,181
COMPANIA CERVECERIAS UNIDAS SPONSORED ADR 204429104 213,637 14,533,116 SH   SOLE   14,338,186 0 194,930
CRH PLC ADR 12626K203 6 148 SH   SOLE   148 0 0
CUMMINS INC COM 231021106 476,257 2,097,125 SH   SOLE   1,929,467 0 167,658
CUMULUS MEDIA INC COM CL A 231082801 124 14,221 SH   SOLE   14,221 0 0
DEERE & CO COM 244199105 691,900 2,571,641 SH   SOLE   2,367,325 0 204,316
DENTSPLY SIRONA INC COM 24906P109 379,035 7,239,020 SH   SOLE   6,706,879 0 532,141
DIAGEO PLC SPON ADR NEW 25243Q205 6 38 SH   SOLE   38 0 0
DOUGLAS EMMETT INC COM 25960P109 159,489 5,465,697 SH   SOLE   5,065,015 0 400,682
ENTERPRISE PRODS PARTNERS L COM 293792107 55,971 2,857,106 SH   SOLE   2,857,106 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 358,359 6,045,194 SH   SOLE   5,607,532 0 437,662
EXPEDITORS INTL WASH INC COM 302130109 237,146 2,493,391 SH   SOLE   2,300,956 0 192,435
EXXON MOBIL CORP COM 30231G102 1,104,063 26,784,640 SH   SOLE   25,413,543 0 1,371,097
FACEBOOK INC CL A 30303M102 890,827 3,261,191 SH   SOLE   3,037,321 0 223,870
FLOWSERVE CORP COM 34354P105 410,509 11,140,003 SH   SOLE   10,307,155 0 832,848
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 454,652 6,000,426 SH   SOLE   5,652,304 0 348,122
FRANCO NEV CORP COM 351858105 238,640 1,903,285 SH   SOLE   1,828,144 0 75,141
FTS INTERNATIONAL INC COM NEW CL A 30283W302 424 22,101 SH   SOLE   22,101 0 0
GENERAL DYNAMICS CORP COM 369550108 46,112 309,854 SH   SOLE   283,707 0 26,147
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 12 324 SH   SOLE   324 0 0
HCA HEALTHCARE INC COM 40412C101 389,402 2,367,761 SH   SOLE   2,210,529 0 157,232
HOME DEPOT INC COM 437076102 11,546 43,467 SH   SOLE   43,467 0 0
IMPERIAL OIL LTD COM NEW 453038408 499,471 26,315,230 SH   SOLE   24,818,507 0 1,496,723
IPG PHOTONICS CORP COM 44980X109 359,543 1,606,609 SH   SOLE   1,488,178 0 118,431
J JILL INC COM 46620W201 425 113,967 SH   SOLE   113,967 0 0
KINROSS GOLD CORP COM 496902404 16,702 2,275,478 SH   SOLE   2,275,478 0 0
KIRKLAND LAKE GOLD LTD COM 49741E100 104,245 2,522,700 SH   SOLE   2,522,700 0 0
KRAFT HEINZ CO COM 500754106 252,034 7,271,606 SH   SOLE   6,813,026 0 458,580
LINDE PLC SHS G5494J103 839,621 3,210,139 SH   SOLE   3,006,668 0 203,471
LLOYDS BANKING GROUP PLC SPONSORED ADR 539439109 10 5,102 SH   SOLE   5,102 0 0
MAG SILVER CORP COM 55903Q104 67,171 3,280,988 SH   SOLE   3,280,988 0 0
MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 27,421 646,119 SH   SOLE   646,119 0 0
MEDTRONIC PLC SHS G5960L103 26,591 226,999 SH   SOLE   226,999 0 0
MICROSOFT CORP COM 594918104 663,461 2,982,918 SH   SOLE   2,762,955 0 219,963
NATIONAL OILWELL VARCO INC COM 637071101 460,837 33,564,211 SH   SOLE   30,860,573 0 2,703,638
NEWMONT CORP COM 651639106 1,099,960 18,366,344 SH   SOLE   17,582,448 0 783,896
NOVAGOLD RES INC COM NEW 66987E206 96,369 9,965,761 SH   SOLE   9,965,761 0 0
NUTRIEN LTD COM 67077M108 1,053,504 21,875,093 SH   SOLE   20,566,621 0 1,308,472
ORACLE CORP COM 68389X105 1,826,629 28,236,658 SH   SOLE   26,087,251 0 2,149,407
ORLA MNG LTD NEW COM 68634K106 21,532 3,995,382 SH   SOLE   3,995,382 0 0
PEPSICO INC COM 713448108 25,841 174,249 SH   SOLE   174,249 0 0
PHILIP MORRIS INTL INC COM 718172109 863,375 10,428,496 SH   SOLE   9,640,736 0 787,760
PPG INDS INC COM 693506107 166,698 1,155,857 SH   SOLE   1,072,121 0 83,736
ROSS STORES INC COM 778296103 31,460 256,167 SH   SOLE   256,167 0 0
ROYAL GOLD INC COM 780287108 282,392 2,655,061 SH   SOLE   2,571,212 0 83,849
S&P GLOBAL INC COM 78409V104 3,270 9,946 SH   SOLE   9,946 0 0
SALESFORCE COM INC COM 79466L302 378,356 1,700,247 SH   SOLE   1,572,794 0 127,453
SAN JUAN BASIN RTY TR UNIT BEN INT 798241105 10,944 4,098,935 SH   SOLE   3,991,037 0 107,898
SANOFI SPONSORED ADR 80105N105 18 368 SH   SOLE   368 0 0
SCHLUMBERGER LTD COM 806857108 619,843 28,394,078 SH   SOLE   26,104,719 0 2,289,359
SCHWAB CHARLES CORP COM 808513105 301,156 5,677,898 SH   SOLE   5,275,138 0 402,760
SCOTTS MIRACLE GRO CO CL A 810186106 157,730 792,055 SH   SOLE   733,848 0 58,207
SHERWIN WILLIAMS CO COM 824348106 11,652 15,855 SH   SOLE   15,855 0 0
SPDR GOLD TR GOLD SHS 78463V107 692,929 3,885,000 SH   SOLE   1,542,447 0 2,342,553
STARBUCKS CORP COM 855244109 11,972 111,909 SH   SOLE   111,909 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 1,073,312 9,843,287 SH   SOLE   9,274,875 0 568,412
TE CONNECTIVITY LTD REG SHS H84989104 17,041 140,752 SH   SOLE   140,752 0 0
TERADATA CORP DEL COM 88076W103 306,295 13,631,268 SH   SOLE   12,670,425 0 960,843
TEXAS INSTRS INC COM 882508104 656,666 4,000,887 SH   SOLE   3,754,172 0 246,715
TRAVELERS COMPANIES INC COM 89417E109 530,386 3,778,486 SH   SOLE   3,500,632 0 277,854
TRUIST FINL CORP COM 89832Q109 351,889 7,341,728 SH   SOLE   6,775,051 0 566,677
UGI CORP NEW COM 902681105 254,852 7,289,826 SH   SOLE   6,799,296 0 490,530
UNILEVER PLC SPON ADR NEW 904767704 20 335 SH   SOLE   335 0 0
UNION PAC CORP COM 907818108 418,435 2,009,581 SH   SOLE   1,850,109 0 159,472
UNITEDHEALTH GROUP INC COM 91324P102 37,610 107,250 SH   SOLE   107,250 0 0
UNIVERSAL HLTH SVCS INC CL B 913903100 414,956 3,017,862 SH   SOLE   2,795,930 0 221,932
US BANCORP DEL COM NEW 902973304 464,930 9,979,175 SH   SOLE   9,262,464 0 716,711
VISA INC COM CL A 92826C839 16,384 74,904 SH   SOLE   74,904 0 0
WELLS FARGO CO NEW COM 949746101 325,373 10,781,068 SH   SOLE   10,016,935 0 764,133
WEYERHAEUSER CO MTN BE COM NEW 962166104 731,212 21,807,696 SH   SOLE   20,115,547 0 1,692,149
WHEATON PRECIOUS METALS CORP COM 962879102 676,198 16,200,231 SH   SOLE   15,444,969 0 755,262
WILLIS TOWERS WATSON PLC LTD SHS G96629103 413,366 1,962,058 SH   SOLE   1,844,270 0 117,788