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 9,450 44,850 SH   SOLE   30,000 0 14,850
ALPHABET INC CLASS A 02079K305 27,053 22,412 SH   SOLE   15,369 0 7,043
AMERICAN EXPRESS CO COMMON 025816109 20,095 188,700 SH   SOLE   129,800 0 58,900
BANCO BRADESCO S A ADR (1 PFD) 059460303 190,093 26,849,286 SH   SOLE   15,267,830 0 11,581,456
BECTON DICKINSON COMMON 075887109 9,748 37,350 SH   SOLE   25,900 0 11,450
BERKSHIRE HATHAWAY CLASS B 084670702 32,728 152,854 SH   SOLE   91,740 0 61,114
BUCKLE INC COMMON 118440106 12,493 542,000 SH   SOLE   371,000 0 171,000
CARLISLE COS INC COMMON 142339100 24,470 200,900 SH   SOLE   137,000 0 63,900
CARNIVAL CORP COMMON 143658300 12,183 191,042 SH   SOLE   130,242 0 60,800
COPA HOLDINGS CLASS A P31076105 67,102 840,457 SH   SOLE   480,500 0 359,957
CULLEN FROST BANKERS COMMON 229899109 15,520 148,600 SH   SOLE   102,200 0 46,400
DENTSPLY SIRONA INC COM USD0.01 24906P109 9,389 248,789 SH   SOLE   168,489 0 80,300
EAGLE MATERIALS COMMON 26969P108 16,093 188,800 SH   SOLE   127,700 0 61,100
EMERSON ELEC CO COMMON 291011104 4,350 56,800 SH   SOLE   32,100 0 24,700
FLIR SYS INC COMMON 302445101 12,810 208,400 SH   SOLE   140,400 0 68,000
GENERAL DYNAMICS COMMON 369550108 3,184 15,555 SH   SOLE   8,755 0 6,800
GENTEX CORP COMMON 371901109 24,196 1,127,500 SH   SOLE   821,800 0 305,700
HARLEY DAVIDSON INC COMMON 412822108 4,263 94,100 SH   SOLE   72,600 0 21,500
HEARTLAND EXPRESS IN COMMON 422347104 1,997 101,200 SH   SOLE   0 0 101,200
INFOSYS LIMITED ADR 456788108 154,032 15,145,760 SH   SOLE   8,171,900 0 6,973,860
INTEL CORP COMMON 458140100 26,967 570,240 SH   SOLE   388,740 0 181,500
JACOBS ENGR GROUP COMMON 469814107 9,573 125,139 SH   SOLE   84,339 0 40,800
JOHNSON & JOHNSON COMMON 478160104 23,959 173,400 SH   SOLE   119,500 0 53,900
MARKEL CORP COMMON 570535104 42,021 35,357 SH   SOLE   23,804 0 11,553
MARTIN MARIETTA MATL COMMON 573284106 10,280 56,500 SH   SOLE   38,200 0 18,300
MDU RES GROUP INC COMMON 552690109 10,726 417,500 SH   SOLE   274,200 0 143,300
MEDTRONIC PLC SHS G5960L103 13,440 136,622 SH   SOLE   95,680 0 40,942
MICROSOFT CORP COMMON 594918104 8,580 75,021 SH   SOLE   47,100 0 27,921
MSC INDL DIRECT INC CLASS A 553530106 12,283 139,400 SH   SOLE   94,600 0 44,800
OCEANEERING INTL INC COMMON 675232102 28,207 1,022,000 SH   SOLE   691,500 0 330,500
POSCO ADR (0.25 ORD) 693483109 194,770 2,951,066 SH   SOLE   1,633,200 0 1,317,866
PROCTER & GAMBLE CO COMMON 742718109 14,723 176,900 SH   SOLE   117,200 0 59,700
QUALCOMM INC COMMON 747525103 25,138 349,000 SH   SOLE   236,300 0 112,700
SAMSUNG ELECTRS LTD GDR REP 25 ORD SHS 796050888 231,983 221,595 SH   SOLE   122,439 0 99,156
SCHLUMBERGER LTD COMMON 806857108 24,392 400,400 SH   SOLE   271,400 0 129,000
STATE BK OF INDIA GDR(2 INR10 REG S) 856552203 24,003 649,620 SH   SOLE   370,770 0 278,850
T ROWE PRICE GRP COMMON 74144T108 25,668 235,100 SH   SOLE   158,600 0 76,500
TEGNA INC COMMON 87901J105 8,762 732,580 SH   SOLE   507,880 0 224,700
TELEDYNE TECH INC COMMON 879360105 10,632 43,100 SH   SOLE   31,200 0 11,900
TIFFANY & CO COMMON 886547108 14,625 113,400 SH   SOLE   80,400 0 33,000
UNITED TECHNOLOGIES COMMON 913017109 36,518 261,200 SH   SOLE   175,200 0 86,000
VALLEY NATL BANCORP COMMON 919794107 6,707 596,200 SH   SOLE   338,700 0 257,500
VALMONT INDS INC COMMON 920253101 8,933 64,500 SH   SOLE   47,400 0 17,100
WALGREENS BOOTS ALNC COMMON 931427108 24,917 341,800 SH   SOLE   231,900 0 109,900
WALT DISNEY CO COMMON 254687106 19,576 167,400 SH   SOLE   113,300 0 54,100
WASHINGTON FEDERAL COMMON 938824109 9,958 311,195 SH   SOLE   177,595 0 133,600
WELLS FARGO & CO COMMON 949746101 29,568 562,560 SH   SOLE   377,760 0 184,800
WESTAMERICA BANCORP COMMON 957090103 7,670 127,500 SH   SOLE   88,200 0 39,300