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 COMPANY COMMON 88579Y101 25,524 144,833 SH   SOLE   97,983 0 46,850
ALPHABET INC CLASS A CLASS A 02079K305 45,293 56,330 SH   SOLE   39,984 0 16,346
ALPHABET INC CLASS C CLASS C 02079K107 9,258 11,911 SH   SOLE   9,562 0 2,349
AMERICAN EXPRESS CO COMMON 025816109 38,952 608,250 SH   SOLE   444,350 0 163,900
APACHE CORP COMMON 037411105 51,855 811,890 SH   SOLE   584,990 0 226,900
AUSTRAL&NEW ZEAL BKG BKG SP ADR (1 052528304 2,447 115,150 SH   SOLE   115,150 0 0
BANCO BRADESCO S A ADR (1 PFD) 059460303 177,028 19,517,974 SH   SOLE   15,206,286 0 4,311,688
BECTON DICKINSON COMMON 075887109 24,991 139,050 SH   SOLE   95,100 0 43,950
BEMIS INC COMMON 081437105 9,783 191,780 SH   SOLE   119,480 0 72,300
BERKSHIRE HATHAWAY CLASS B 084670702 61,127 423,114 SH   SOLE   288,440 0 134,674
CARLISLE COS INC COMMON 142339100 28,925 282,000 SH   SOLE   201,700 0 80,300
CARNIVAL CORP COMMON 143658300 26,858 550,148 SH   SOLE   380,242 0 169,906
COCA-COLA CO COMMON 191216100 14,355 339,200 SH   SOLE   237,900 0 101,300
COPA HOLDINGS CLASS A P31076105 116,706 1,327,257 SH   SOLE   1,007,157 0 320,100
CULLEN FROST BANKERS COMMON 229899109 28,949 402,400 SH   SOLE   288,900 0 113,500
DENBURY RES INC COMMON 247916208 35,837 11,095,000 SH   SOLE   7,930,900 0 3,164,100
DENTSPLY SIRONA INC COM USD0.01 24906P109 13,668 229,989 SH   SOLE   149,189 0 80,800
EAGLE MATERIALS COMMON 26969P108 21,845 282,600 SH   SOLE   207,700 0 74,900
EMERSON ELEC CO COMMON 291011104 10,858 199,200 SH   SOLE   130,800 0 68,400
FLIR SYS INC COMMON 302445101 23,794 757,298 SH   SOLE   537,498 0 219,800
GENERAL DYNAMICS COMMON 369550108 10,172 65,555 SH   SOLE   42,855 0 22,700
GENTEX CORP COMMON 371901109 30,440 1,733,500 SH   SOLE   1,271,300 0 462,200
GRANITE CONSTR INC COMMON 387328107 6,068 122,004 SH   SOLE   85,800 0 36,204
HARLEY DAVIDSON INC COMMON 412822108 10,623 202,000 SH   SOLE   155,500 0 46,500
HEARTLAND EXPRESS IN COMMON 422347104 2,545 134,773 SH   SOLE   30,073 0 104,700
INFOSYS LIMITED ADR 456788108 116,511 7,383,480 SH   SOLE   5,407,180 0 1,976,300
INTEL CORP COMMON 458140100 29,176 772,880 SH   SOLE   511,560 0 261,320
JACOBS ENGR GROUP COMMON 469814107 38,213 738,839 SH   SOLE   549,439 0 189,400
JOHNSON & JOHNSON COMMON 478160104 55,557 470,300 SH   SOLE   334,700 0 135,600
MARKEL CORP COMMON 570535104 125,050 134,640 SH   SOLE   94,970 0 39,670
MATTEL INC COMMON 577081102 41,747 1,378,700 SH   SOLE   989,200 0 389,500
MDU RES GROUP INC COMMON 552690109 62,727 2,465,700 SH   SOLE   1,771,200 0 694,500
MEDTRONIC PLC SHS G5960L103 16,932 195,967 SH   SOLE   135,903 0 60,064
MERCK & CO INC COMMON 58933Y105 16,264 260,600 SH   SOLE   184,600 0 76,000
MICROSOFT CORP COMMON 594918104 20,536 356,521 SH   SOLE   259,000 0 97,521
NATL AUSTRALIA BK SP ADR (1 ORD 632525408 1,166 109,166 SH   SOLE   109,166 0 0
OCEANEERING INTL INC COMMON 675232102 26,264 954,700 SH   SOLE   683,700 0 271,000
PFIZER INC COMMON 717081103 321 9,480 SH   SOLE   9,480 0 0
POSCO ADR (0.25 ORD 693483109 200,366 3,922,586 SH   SOLE   3,035,066 0 887,520
PROCTER & GAMBLE CO COMMON 742718109 58,607 653,000 SH   SOLE   456,200 0 196,800
QUALCOMM INC COMMON 747525103 45,758 668,000 SH   SOLE   474,800 0 193,200
ROCKWELL COLLINS INC COMMON 774341101 20,258 240,200 SH   SOLE   171,500 0 68,700
SAMSUNG ELECTRS LTD GDR 144A (0.5 796050888 354,069 488,052 SH   SOLE   368,988 0 119,064
STATE BK OF INDIA GDR(2 INR10 R 856552203 23,268 624,650 SH   SOLE   325,360 0 299,290
SYSCO CORP COMMON 871829107 10,498 214,200 SH   SOLE   148,600 0 65,600
TEGNA INC COMMON 87901J105 14,424 659,820 SH   SOLE   452,230 0 207,590
TELEDYNE TECH INC COMMON 879360105 10,340 95,800 SH   SOLE   70,500 0 25,300
TIDEWATER INC COMMON 886423102 9,147 3,243,453 SH   SOLE   2,315,187 0 928,266
TIFFANY & CO COMMON 886547108 19,988 275,200 SH   SOLE   201,100 0 74,100
UNITED TECHNOLOGIES COMMON 913017109 51,897 510,800 SH   SOLE   372,500 0 138,300
VALLEY NATL BANCORP COMMON 919794107 20,354 2,091,900 SH   SOLE   1,459,100 0 632,800
VALMONT INDS INC COMMON 920253101 22,742 169,000 SH   SOLE   128,000 0 41,000
WALGREENS BOOTS ALNC COMMON 931427108 20,260 251,300 SH   SOLE   169,500 0 81,800
WALT DISNEY CO COMMON 254687106 10,112 108,900 SH   SOLE   69,500 0 39,400
WASHINGTON FEDERAL COMMON 938824109 44,051 1,651,075 SH   SOLE   1,180,995 0 470,080
WELLS FARGO & CO COMMON 949746101 58,576 1,322,850 SH   SOLE   934,650 0 388,200
WESTAMERICA BANCORP COMMON 957090103 18,754 368,600 SH   SOLE   280,300 0 88,300
WORLD FUEL SVCS CORP COMMON 981475106 2,961 64,017 SH   SOLE   12,817 0 51,200