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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Aflac Inc COMMON 001055102   41,306 1,206,327 SH   SOLE   1,158,497 0 47,830
Abiomed Inc COMMON 003654100   15,472 106,616 SH   SOLE   102,563 0 4,053
Albemarle Corp COMMON 012653101   20,268 357,903 SH   SOLE   344,354 0 13,549
Alleghany Corp COMMON 017175100   37,083 67,105 SH   SOLE   64,463 0 2,642
Amazon.com Inc COMMON 023135106   71,737 36,812 SH   SOLE   35,418 0 1,394
American Express Co COMMON 025816109   79,310 926,411 SH   SOLE   890,552 0 35,859
Analog Devices Inc COMMON 032654105   52,047 580,642 SH   SOLE   559,766 0 20,876
Applied Materials Inc COMMON 038222105   50,595 1,104,210 SH   SOLE   1,061,372 0 42,838
Archer-Daniels-Midland Co COMMON 039483102   132,632 3,770,352 SH   SOLE   3,623,048 0 147,304
Automatic Data Processing COMMON 053015103   19,786 144,765 SH   SOLE   139,541 0 5,224
Autozone Inc COMMON 053332102   37,116 43,823 SH   SOLE   42,248 0 1,575
Baidu Inc - Spon ADR COMMON 056752108   150,747 1,495,674 SH   SOLE   0 0 1,495,674
Bank of New York Mellon Corp COMMON 064058100   45,738 1,358,008 SH   SOLE   1,309,166 0 48,842
Barrick Gold Corporation COMMON 067901108   125,714 6,858,066 SH   SOLE   2,640,568 0 4,217,498
Baxter International Inc COMMON 071813109   66,519 817,285 SH   SOLE   785,065 0 32,220
Berkshire Hathaway Inc COMMON 084670702   141,809 775,681 SH   SOLE   745,542 0 30,139
Brookfield Asset Management-CL A COMMON 112585104   117,859 2,688,594 SH   SOLE   2,509,991 0 178,603
Canadian Natural Resources COMMON 136385101   27,397 1,943,651 SH   SOLE   1,774,943 0 168,708
Carmax Inc COMMON 143130102   51,949 965,060 SH   SOLE   927,561 0 37,499
Citigroup Inc COMMON 172967424   34,474 818,557 SH   SOLE   789,102 0 29,455
Coca Cola Co COMMON 191216100   81,917 1,834,877 SH   SOLE   1,762,500 0 72,377
Colgate Palmolive Co COMMON 194162103   48,354 728,677 SH   SOLE   702,375 0 26,302
Compania De Minas Buenaventura Spon ADR COMMON 204448104   7,294 1,000,493 SH   SOLE   0 0 1,000,493
Electronic Arts Inc COMMON 285512109   50,468 503,862 SH   SOLE   485,225 0 18,637
Entercom Communications - CL A COMMON 293639100   6,188 3,628,608 SH   SOLE   3,486,671 0 141,937
Expeditors Intl Wash Inc COMMON 302130109   58,840 881,899 SH   SOLE   850,206 0 31,693
Fastenal Co COMMON 311900104   45,725 1,463,471 SH   SOLE   1,408,195 0 55,276
Franco-Nevada Corp COMMON 351858105   24,746 250,473 SH   SOLE   228,730 0 21,743
Gildan Activewear Inc COMMON 375916103   29,972 2,351,075 SH   SOLE   2,226,775 0 124,300
Globus Medical Inc A COMMON 379577208   27,263 641,198 SH   SOLE   616,996 0 24,202
Harley Davidson Inc COMMON 412822108   20,086 1,061,126 SH   SOLE   1,019,921 0 41,205
Hartford Financial SVCS Group Inc COMMON 416515104   69,382 1,951,164 SH   SOLE   1,879,030 0 72,134
The Hershey Company COMMON 427866108   21,515 162,386 SH   SOLE   154,508 0 7,878
Intel Corp COMMON 458140100   164,329 3,036,384 SH   SOLE   2,921,595 0 114,789
Johnson and Johnson COMMON 478160104   228,897 1,745,803 SH   SOLE   1,680,077 0 65,726
Kimberly-Clark Corp COMMON 494368103   33,559 260,191 SH   SOLE   250,327 0 9,864
Lincoln Electric Holdings COMMON 533900106   16,781 241,487 SH   SOLE   232,341 0 9,146
Loews Corp COMMON 540424108   53,556 1,537,997 SH   SOLE   1,476,954 0 61,043
Magna International Inc COMMON 559222401   11,658 369,429 SH   SOLE   337,362 0 32,067
Markel Corp COMMON 570535104   38,250 41,223 SH   SOLE   39,660 0 1,563
National Oilwell Varco COMMON 637071101   31,766 3,232,263 SH   SOLE   3,104,105 0 128,158
Omnicom Group COMMON 681919106   33,234 597,058 SH   SOLE   574,011 0 23,047
PPG Industries Inc COMMON 693506107   53,312 637,702 SH   SOLE   613,026 0 24,676
Paccar Inc COMMON 693718108   22,033 360,437 SH   SOLE   346,836 0 13,601
Paychex Inc COMMON 704326107   53,645 852,486 SH   SOLE   821,811 0 30,675
Pepsico Inc COMMON 713448108   30,421 253,316 SH   SOLE   243,726 0 9,590
Pricesmart Inc COMMON 741511109   16,035 305,153 SH   SOLE   267,963 0 37,190
Procter & Gamble COMMON 742718109   72,206 656,411 SH   SOLE   632,760 0 23,651
Rayonier Inc COMMON 754907103   36,611 1,555,070 SH   SOLE   1,507,299 0 47,771
Ritchie Bros Auctioneers COMMON 767744105   53,218 1,570,679 SH   SOLE   1,467,575 0 103,104
Rogers Communications Inc COMMON 775109200   17,316 415,463 SH   SOLE   378,869 0 36,594
TJX Companies Inc COMMON 872540109   42,392 886,675 SH   SOLE   853,063 0 33,612
Taiwan Semiconductor Manufacturing Co Ltd COMMON 874039100   5,802 120,440 SH   SOLE   110,734 0 9,706
Tanger Factory Outlet Center COMMON 875465106   11,017 2,204,136 SH   SOLE   2,136,387 0 67,749
Texas Instruments Inc COMMON 882508104   112,183 1,122,629 SH   SOLE   1,081,592 0 41,037
US Bancorp COMMON 902973304   74,802 2,145,856 SH   SOLE   2,068,742 0 77,114
Union Pacific Corp COMMON 907818108   57,032 404,448 SH   SOLE   389,913 0 14,535
United Parcel Services Cl B COMMON 911312106   62,108 664,829 SH   SOLE   638,965 0 25,864
United Technologies Corp COMMON 913017109   41,333 438,175 SH   SOLE   431,423 0 6,752
Wabtec Corp COMMON 929740108   22,442 466,289 SH   SOLE   447,790 0 18,499
Waters Corp COMMON 941848103   74,788 410,817 SH   SOLE   395,838 0 14,979
Wells Fargo COMMON 949746101   137,379 4,787,093 SH   SOLE   4,607,138 0 179,955
Weyerhaeuser Co COMMON 962166104   33,665 1,986,481 SH   SOLE   1,925,461 0 61,020
Eventbrite Inc - Class A COMMON 29975E109   9,281 1,271,320 SH   SOLE   1,223,134 0 48,186
Travelers Companies Inc COMMON 89417E109   95,999 966,271 SH   SOLE   930,999 0 35,272
Activision Blizzard COMMON 00507V109   27,465 461,760 SH   SOLE   444,255 0 17,505
Alphabet Inc - Class C COMMON 02079K107   79,155 68,081 SH   SOLE   65,504 0 2,577
Alphabet Inc - Class A COMMON 02079K305   199,131 171,377 SH   SOLE   164,921 0 6,456
Bce Inc COMMON 05534B760   20,910 508,461 SH   SOLE   464,330 0 44,131
Bancolombia Sa -Pref COMMON 05968L102   18,708 727,774 SH   SOLE   656,555 0 71,219
Blackberry Ltd COMMON 09228F103   19,465 4,801,608 SH   SOLE   4,377,077 0 424,531
Booking Holdings Inc COMMON 09857L108   146,498 108,897 SH   SOLE   104,911 0 3,986
C H Robinson Worldwide Inc COMMON 12541W209   85,047 1,284,892 SH   SOLE   1,237,794 0 47,098
Canadian Pacific Railway Ltd COMMON 13645T100   40,617 185,688 SH   SOLE   169,565 0 16,123
Costco Wholesale Corp COMMON 22160K105   55,509 194,678 SH   SOLE   186,990 0 7,688
Dolby Laboratories Inc COMMON 25659T107   30,999 571,823 SH   SOLE   550,239 0 21,584
Facebook Inc A COMMON 30303M102   108,570 650,907 SH   SOLE   625,735 0 25,172
First Republic Bank COMMON 33616C100   36,882 448,268 SH   SOLE   431,286 0 16,982
Freeport-McMoran Inc COMMON 35671D857   16,827 2,493,063 SH   SOLE   2,199,669 0 293,394
Grupo Televisa Sa-Spons Adr COMMON 40049J206   8,773 1,512,706 SH   SOLE   0 0 1,512,706
Kt Corp Spon ADR COMMON 48268K101   28,922 3,717,495 SH   SOLE   0 0 3,717,495
M & T Bank Corp COMMON 55261F104   15,077 145,781 SH   SOLE   140,254 0 5,527
Marketaxess Holdings Inc COMMON 57060D108   25,808 77,605 SH   SOLE   74,661 0 2,944
Maxim Integrated Products COMMON 57772K101   48,656 1,000,965 SH   SOLE   964,994 0 35,971
Merck & Co Inc COMMON 58933Y105   147,251 1,898,256 SH   SOLE   1,826,256 0 72,000
Now Inc COMMON 67011P100   541 105,009 SH   SOLE   100,771 0 4,238
Oracle Corp COMMON 68389X105   216,757 4,484,938 SH   SOLE   4,315,109 0 169,829
PayPal Holdings Inc COMMON 70450Y103   45,368 473,894 SH   SOLE   455,202 0 18,692
Price T Rowe Group COMMON 74144T108   15,634 160,117 SH   SOLE   154,327 0 5,790
S&P Global Inc COMMON 78409V104   5,307 21,657 SH   SOLE   20,885 0 772
3M Co COMMON 88579Y101   32,769 240,051 SH   SOLE   231,383 0 8,668
Ctrip.com International ADR COMMON 89677Q107   20,437 871,493 SH   SOLE   0 0 871,493
Ulta Beauty Inc COMMON 90384S303   11,255 64,061 SH   SOLE   61,635 0 2,426
Univar Solutions Inc COMMON 91336L107   4,134 385,733 SH   SOLE   370,489 0 15,244
Visteon Corp COMMON 92839U206   25,515 531,965 SH   SOLE   510,991 0 20,974
Yum China Holdings Inc COMMON 98850P109   98,125 2,301,787 SH   SOLE   2,093,252 0 208,535
Aon Plc COMMON G0408V102   6,860 41,563 SH   SOLE   40,096 0 1,467
Axalta Coating Systems Ltd COMMON G0750C108   25,969 1,503,783 SH   SOLE   1,444,459 0 59,324
Accenture Plc COMMON G1151C101   34,126 209,012 SH   SOLE   201,515 0 7,497
Bunge Ltd COMMON G16962105   99,851 2,434,074 SH   SOLE   2,337,505 0 96,569
Coca-Cola European Partners COMMON G25839104   67,900 1,810,291 SH   SOLE   1,669,045 0 141,246
Genpact Ltd COMMON G3922B107   42,248 1,446,860 SH   SOLE   1,311,588 0 135,272
Linde PLC COMMON G5494J103   28,775 166,319 SH   SOLE   160,023 0 6,296
Chubb Ltd COMMON H1467J104   34,449 304,864 SH   SOLE   293,851 0 11,013
TE Connectivity Ltd COMMON H84989104   39,543 627,876 SH   SOLE   603,035 0 24,841