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 6,249 36,050 SH   SOLE   22,900 0 13,150
ALPHABET INC CLASS A 02079K305 18,421 17,012 SH   SOLE   10,769 0 6,243
AMERICAN EXPRESS CO COMMON 025816109 15,405 124,800 SH   SOLE   79,800 0 45,000
APPLE INC COMMON 037833100 9,916 50,100 SH   SOLE   32,600 0 17,500
BANCO BRADESCO S A ADR (1 PFD) 059460303 259,958 26,472,278 SH   SOLE   14,762,232 0 11,710,046
BECTON DICKINSON COMMON 075887109 6,766 26,850 SH   SOLE   17,800 0 9,050
BERKSHIRE HATHAWAY CLASS B 084670702 26,636 124,954 SH   SOLE   70,540 0 54,414
BORG WARNER INC COMMON 099724106 13,039 310,600 SH   SOLE   201,700 0 108,900
BUCKLE INC COMMON 118440106 11,354 655,900 SH   SOLE   426,700 0 229,200
CARLISLE COS INC COMMON 142339100 24,895 177,300 SH   SOLE   113,400 0 63,900
CARNIVAL CORP COMMON 143658300 7,967 171,142 SH   SOLE   110,342 0 60,800
COPA HOLDINGS CLASS A P31076105 103,420 1,059,957 SH   SOLE   610,100 0 449,857
CULLEN FROST BANKERS COMMON 229899109 12,344 131,800 SH   SOLE   85,400 0 46,400
DENTSPLY SIRONA INC COM 24906P109 16,113 276,089 SH   SOLE   183,889 0 92,200
EAGLE MATERIALS COMMON 26969P108 22,331 240,900 SH   SOLE   156,600 0 84,300
FLIR SYS INC COMMON 302445101 8,256 152,600 SH   SOLE   99,100 0 53,500
GENERAL DYNAMICS COMMON 369550108 5,610 30,855 SH   SOLE   20,055 0 10,800
GENTEX CORP COMMON 371901109 23,296 946,600 SH   SOLE   674,300 0 272,300
HEARTLAND EXPRESS IN COMMON 422347104 1,829 101,200 SH   SOLE   0 0 101,200
INFOSYS LIMITED ADR 456788108 151,710 14,178,460 SH   SOLE   7,339,300 0 6,839,160
INTEL CORP COMMON 458140100 24,473 511,240 SH   SOLE   329,740 0 181,500
IPG PHOTONICS CORP COMMON 44980X109 5,090 33,000 SH   SOLE   21,400 0 11,600
JOHNSON & JOHNSON COMMON 478160104 15,850 113,800 SH   SOLE   73,200 0 40,600
MARKEL CORP COMMON 570535104 28,664 26,307 SH   SOLE   17,174 0 9,133
MARTIN MARIETTA MATL COMMON 573284106 19,766 85,900 SH   SOLE   56,200 0 29,700
MEDTRONIC PLC SHS G5960L103 10,491 107,722 SH   SOLE   71,580 0 36,142
MICROSOFT CORP COMMON 594918104 5,281 39,421 SH   SOLE   26,400 0 13,021
MSC INDL DIRECT INC CLASS A 553530106 12,988 174,900 SH   SOLE   113,500 0 61,400
OCEANEERING INTL INC COMMON 675232102 22,578 1,107,300 SH   SOLE   724,300 0 383,000
POSCO ADR (0.25 ORD) 693483109 160,096 3,017,266 SH   SOLE   1,685,700 0 1,331,566
PROCTER & GAMBLE CO COMMON 742718109 12,445 113,500 SH   SOLE   75,100 0 38,400
QUALCOMM INC COMMON 747525103 22,791 299,600 SH   SOLE   186,900 0 112,700
SAMSUNG ELECTRS LTD GDR 144A / REG S 796050888 246,016 241,755 SH   SOLE   136,329 0 105,426
SCHLUMBERGER LTD COMMON 806857108 22,465 565,300 SH   SOLE   367,600 0 197,700
STATE BK OF INDIA GDR(2 INR10 REG S) 856552203 41,203 795,430 SH   SOLE   491,860 0 303,570
T ROWE PRICE GRP COMMON 74144T108 27,954 254,800 SH   SOLE   167,500 0 87,300
TELEDYNE TECH INC COMMON 879360105 7,778 28,400 SH   SOLE   19,000 0 9,400
TIFFANY & CO COMMON 886547108 8,194 87,500 SH   SOLE   58,300 0 29,200
UNITED TECHNOLOGIES COMMON 913017109 31,040 238,400 SH   SOLE   152,400 0 86,000
VALMONT INDS INC COMMON 920253101 6,886 54,300 SH   SOLE   39,200 0 15,100
WALGREENS BOOTS ALNC COMMON 931427108 23,410 428,200 SH   SOLE   278,300 0 149,900
WALT DISNEY CO COMMON 254687106 37,116 265,800 SH   SOLE   172,200 0 93,600
WASHINGTON FEDERAL COMMON 938824109 10,004 286,395 SH   SOLE   167,395 0 119,000
WELLS FARGO & CO COMMON 949746101 26,469 559,360 SH   SOLE   361,160 0 198,200
WESTAMERICA BANCORP COMMON 957090103 6,679 108,400 SH   SOLE   69,100 0 39,300