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   4,188,263 22,125 SH   SOLE   22,125 0 0
AMBEV SA ADR REP 1 COM SHS 02319V103   14,203,741 7,677,698 SH   SOLE   4,837,998 0 2,839,700
AMERICAN EXPRESS CO COMMON 025816109   18,459,448 62,197 SH   SOLE   62,197 0 0
BECTON DICKINSON COMMON 075887109   12,616,014 55,609 SH   SOLE   55,609 0 0
BERKSHIRE HATHAWAY CLASS B 084670702   34,372,222 75,830 SH   SOLE   75,830 0 0
BIOGEN INC COMMON 09062X103   14,963,987 97,855 SH   SOLE   97,855 0 0
BORG WARNER INC COMMON 099724106   19,786,954 622,427 SH   SOLE   622,427 0 0
BROWN FORMAN CORP CLASS B 115637209   9,487,404 249,800 SH   SOLE   249,800 0 0
C H ROBINSON WLDWIDE COMMON 12541W209   19,409,489 187,858 SH   SOLE   187,858 0 0
COMMERCIAL INTL BK GDR REP 1 ORD EGP10 201712205   43,047,894 29,047,162 SH   SOLE   29,047,162 0 0
COPA HOLDINGS CLASS A P31076105   293,482,906 3,339,587 SH   SOLE   2,146,283 0 1,193,304
CULLEN FROST BANKERS COMMON 229899109   21,987,062 163,777 SH   SOLE   163,777 0 0
DONALDSON INC COMMON 257651109   20,705,478 307,431 SH   SOLE   307,431 0 0
EXXON MOBIL CORP COMMON 30231G102   3,237,857 30,100 SH   SOLE   30,100 0 0
GENTEX CORP COMMON 371901109   14,045,005 488,862 SH   SOLE   488,862 0 0
GILEAD SCIENCES INC COMMON 375558103   24,844,389 268,966 SH   SOLE   268,966 0 0
HENRY SCHEIN INC COM 806407102   28,333,317 409,441 SH   SOLE   409,441 0 0
INTEL CORP COMMON 458140100   12,656,442 631,244 SH   SOLE   631,244 0 0
JOHNSON & JOHNSON COMMON 478160104   15,783,104 109,135 SH   SOLE   109,135 0 0
MARKEL GROUP INC COMMON 570535104   31,227,501 18,090 SH   SOLE   18,090 0 0
META PLATFORMS INC COM USD0.000006 CL A 30303M102   26,167,613 44,692 SH   SOLE   44,692 0 0
MSC INDL DIRECT INC CLASS A 553530106   17,927,094 240,020 SH   SOLE   240,020 0 0
PRICE T ROWE GROUP COM 74144T108   25,569,875 226,102 SH   SOLE   226,102 0 0
QUALCOMM INC COMMON 747525103   22,296,100 145,138 SH   SOLE   145,138 0 0
RTX CORPORATION COM USD1 75513E101   23,088,802 199,523 SH   SOLE   199,523 0 0
RYANAIR HLDGS PLC ADR EACH REPR 5 ORD 783513203   368,627,553 8,456,700 SH   SOLE   4,408,327 0 4,048,373
SAMSUNG ELECTRONIC GDR REP 1/2 ORD REGS 796050888   185,125,850 203,435 SH   SOLE   128,846 0 74,589
SNAP-ON INC COMMON 833034101   7,502,508 22,100 SH   SOLE   22,100 0 0
WALT DISNEY CO COM 254687106   26,967,745 242,189 SH   SOLE   242,189 0 0
WELLS FARGO & CO COMMON 949746101   21,607,720 307,627 SH   SOLE   307,627 0 0
STATE BK OF INDIA GDR(2 INR10 REG S) 856552203   10,890,223 117,605 SH   SOLE   117,605 0 0
TAIWAN SEMICONDUCTOR SP ADR (5 ORD) 874039100   3,693,063 18,700 SH   SOLE   18,700 0 0