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
ALPHABET INC CLASS A 02079K305   2,771,310 19,839 SH   SOLE   19,839 0 0
AMBEV SA ADR REP 1 COM SHS 02319V103   201,876,002 72,098,572 SH   SOLE   45,965,172 0 26,133,400
AMERICAN EXPRESS CO COMMON 025816109   10,471,744 55,897 SH   SOLE   55,897 0 0
BANCO BRADESCO S A ADR (1 PFD) 059460303   272,107,315 77,744,947 SH   SOLE   47,156,671 0 30,588,276
BECTON DICKINSON COMMON 075887109   3,415,814 14,009 SH   SOLE   14,009 0 0
BERKSHIRE HATHAWAY CLASS B 084670702   25,184,833 70,613 SH   SOLE   70,613 0 0
BIOGEN INC COMMON 09062X103   16,239,111 62,755 SH   SOLE   62,755 0 0
BORG WARNER INC COMMON 099724106   13,831,898 385,827 SH   SOLE   385,827 0 0
C H ROBINSON WLDWIDE COMMON 12541W209   15,939,646 184,508 SH   SOLE   184,508 0 0
COMMERCIAL INTL BK GDR REP 1 ORD EGP10 201712205   38,754,230 30,276,742 SH   SOLE   30,276,742 0 0
COPA HOLDINGS CLASS A P31076105   282,948,211 2,661,539 SH   SOLE   1,683,810 0 977,729
CRH PLC ORD EUR0.32 G25508105   395,583,374 5,719,829 SH   SOLE   2,744,608 0 2,975,221
CULLEN FROST BANKERS COMMON 229899109   16,694,116 153,877 SH   SOLE   153,877 0 0
DONALDSON INC COMMON 257651109   9,484,311 145,131 SH   SOLE   145,131 0 0
EAGLE MATERIALS COMMON 26969P108   7,701,835 37,970 SH   SOLE   37,970 0 0
EXXON MOBIL CORP COMMON 30231G102   4,079,184 40,800 SH   SOLE   40,800 0 0
GENTEX CORP COMMON 371901109   7,879,617 241,262 SH   SOLE   241,262 0 0
GILEAD SCIENCES INC COMMON 375558103   7,126,126 87,966 SH   SOLE   87,966 0 0
HENRY SCHEIN INC COM 806407102   16,693,374 220,491 SH   SOLE   220,491 0 0
INTEL CORP COMMON 458140100   19,006,761 378,244 SH   SOLE   378,244 0 0
IPG PHOTONICS CORP COMMON 44980X109   12,015,812 110,704 SH   SOLE   110,704 0 0
JOHNSON & JOHNSON COMMON 478160104   8,547,816 54,535 SH   SOLE   54,535 0 0
MARKEL GROUP INC COMMON 570535104   16,990,523 11,966 SH   SOLE   11,966 0 0
MARTIN MARIETTA MATL COMMON 573284106   4,377,935 8,775 SH   SOLE   8,775 0 0
META PLATFORMS INC COM USD0.000006 CL A 30303M102   21,349,451 60,316 SH   SOLE   60,316 0 0
MSC INDL DIRECT INC CLASS A 553530106   15,474,553 152,820 SH   SOLE   152,820 0 0
PRICE T ROWE GROUP COM 74144T108   16,207,560 150,502 SH   SOLE   150,502 0 0
QUALCOMM INC COMMON 747525103   8,321,721 57,538 SH   SOLE   57,538 0 0
RTX CORPORATION COM USD1 75513E101   14,936,785 177,523 SH   SOLE   177,523 0 0
RYANAIR HLDGS PLC ADR EACH REPR 5 ORD 783513203   365,121,276 2,737,862 SH   SOLE   1,455,412 0 1,282,450
SAMSUNG ELECTRONIC GDR REP 1/2 ORD REGS 796050888   337,367,576 225,212 SH   SOLE   139,493 0 85,719
TORONTO DOMINION BK COMMON 891160509   65,634,534 1,015,700 SH   SOLE   503,800 0 511,900
WALGREENS BOOTS ALNC COMMON 931427108   10,416,793 398,958 SH   SOLE   398,958 0 0
WALT DISNEY CO COM 254687106   18,508,457 204,989 SH   SOLE   204,989 0 0
WELLS FARGO & CO COMMON 949746101   9,033,199 183,527 SH   SOLE   183,527 0 0
STATE BK OF INDIA GDR(2 INR10 REG S) 856552203   10,507,692 136,110 SH   SOLE   136,110 0 0
TAIWAN SEMICONDUCTOR SP ADR (5 ORD) 874039100   2,142,400 20,600 SH   SOLE   20,600 0 0