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 12,017 57,250 SH   SOLE   39,800 0 17,450
ALPHABET INC CLASS A 02079K305 30,254 31,071 SH   SOLE   21,968 0 9,103
AMERICAN EXPRESS CO COMMON 025816109 24,687 272,900 SH   SOLE   196,400 0 76,500
APACHE CORP COMMON 037411105 16,213 354,000 SH   SOLE   240,800 0 113,200
BANCO BRADESCO S A ADR (1 PFD) 059460303 253,219 22,874,310 SH   SOLE   17,457,845 0 5,416,465
BECTON DICKINSON COMMON 075887109 12,237 62,450 SH   SOLE   39,700 0 22,750
BEMIS INC COMMON 081437105 4,128 90,580 SH   SOLE   47,480 0 43,100
BERKSHIRE HATHAWAY CLASS B 084670702 35,515 193,734 SH   SOLE   122,070 0 71,664
BUCKLE INC COMMON 118440106 7,441 441,600 SH   SOLE   305,500 0 136,100
CARLISLE COS INC COMMON 142339100 20,790 207,300 SH   SOLE   143,400 0 63,900
CARNIVAL CORP COMMON 143658300 15,422 238,842 SH   SOLE   167,542 0 71,300
CARS.COM INC COMMON STOCK 14575E105 5,458 205,093 SH   SOLE   142,293 0 62,800
COCA-COLA CO COMMON 191216100 6,932 154,000 SH   SOLE   101,200 0 52,800
COPA HOLDINGS CLASS A P31076105 80,902 649,657 SH   SOLE   496,857 0 152,800
CULLEN FROST BANKERS COMMON 229899109 17,446 183,800 SH   SOLE   129,400 0 54,400
DENBURY RES INC COMMON 247916208 7,230 5,395,300 SH   SOLE   3,718,800 0 1,676,500
DENTSPLY SIRONA INC COM USD0.01 24906P109 7,171 119,889 SH   SOLE   69,789 0 50,100
EAGLE MATERIALS COMMON 26969P108 13,903 130,300 SH   SOLE   90,200 0 40,100
EMERSON ELEC CO COMMON 291011104 6,378 101,500 SH   SOLE   57,000 0 44,500
FLIR SYS INC COMMON 302445101 13,996 359,700 SH   SOLE   245,200 0 114,500
GENERAL DYNAMICS COMMON 369550108 6,014 29,255 SH   SOLE   16,955 0 12,300
GENTEX CORP COMMON 371901109 23,905 1,207,300 SH   SOLE   869,500 0 337,800
HARLEY DAVIDSON INC COMMON 412822108 4,840 100,400 SH   SOLE   76,600 0 23,800
HEARTLAND EXPRESS IN COMMON 422347104 2,621 104,500 SH   SOLE   3,300 0 101,200
INFOSYS LIMITED ADR 456788108 122,999 8,430,380 SH   SOLE   6,406,380 0 2,024,000
INTEL CORP COMMON 458140100 18,230 478,740 SH   SOLE   331,040 0 147,700
JACOBS ENGR GROUP COMMON 469814107 21,003 360,439 SH   SOLE   268,939 0 91,500
JOHNSON & JOHNSON COMMON 478160104 28,849 221,900 SH   SOLE   151,200 0 70,700
MARKEL CORP COMMON 570535104 63,873 59,807 SH   SOLE   40,434 0 19,373
MATTEL INC COMMON 577081102 15,605 1,008,100 SH   SOLE   696,100 0 312,000
MDU RES GROUP INC COMMON 552690109 16,504 636,000 SH   SOLE   434,400 0 201,600
MEDTRONIC PLC SHS G5960L103 12,235 157,322 SH   SOLE   109,280 0 48,042
MERCK & CO INC COMMON 58933Y105 7,556 118,000 SH   SOLE   78,400 0 39,600
MICROSOFT CORP COMMON 594918104 7,957 106,821 SH   SOLE   74,100 0 32,721
MSC INDL DIRECT INC CLASS A 553530106 8,532 112,900 SH   SOLE   78,000 0 34,900
OCEANEERING INTL INC COMMON 675232102 19,135 728,400 SH   SOLE   522,200 0 206,200
POSCO ADR (0.25 ORD) 693483109 235,118 3,387,866 SH   SOLE   2,594,966 0 792,900
PROCTER & GAMBLE CO COMMON 742718109 21,671 238,200 SH   SOLE   165,300 0 72,900
QUALCOMM INC COMMON 747525103 17,066 329,200 SH   SOLE   227,800 0 101,400
ROCKWELL COLLINS INC COMMON 774341101 19,659 150,400 SH   SOLE   104,800 0 45,600
SAMSUNG ELECTRS LTD GDR 144A (0.5 ORD) 796050888 302,776 270,503 SH   SOLE   205,363 0 65,140
SCHLUMBERGER LTD COMMON 806857108 18,186 260,700 SH   SOLE   180,300 0 80,400
STATE BK OF INDIA GDR(2 INR10 REG S) 856552203 16,942 441,200 SH   SOLE   193,190 0 248,010
T ROWE PRICE GRP COMMON 74144T108 20,668 228,000 SH   SOLE   157,900 0 70,100
TEGNA INC COMMON 87901J105 8,202 615,280 SH   SOLE   426,880 0 188,400
TELEDYNE TECH INC COMMON 879360105 7,975 50,100 SH   SOLE   37,000 0 13,100
TIFFANY & CO COMMON 886547108 12,243 133,400 SH   SOLE   94,700 0 38,700
UNITED TECHNOLOGIES COMMON 913017109 30,750 264,900 SH   SOLE   189,800 0 75,100
VALLEY NATL BANCORP COMMON 919794107 12,683 1,052,500 SH   SOLE   694,500 0 358,000
VALMONT INDS INC COMMON 920253101 11,684 73,900 SH   SOLE   55,000 0 18,900
WALGREENS BOOTS ALNC COMMON 931427108 7,753 100,400 SH   SOLE   64,000 0 36,400
WALT DISNEY CO COMMON 254687106 5,145 52,200 SH   SOLE   27,500 0 24,700
WASHINGTON FEDERAL COMMON 938824109 17,195 510,995 SH   SOLE   346,395 0 164,600
WELLS FARGO & CO COMMON 949746101 33,678 610,660 SH   SOLE   406,460 0 204,200
WESTAMERICA BANCORP COMMON 957090103 9,068 152,300 SH   SOLE   106,200 0 46,100
WORLD FUEL SVCS CORP COMMON 981475106 1,770 52,200 SH   SOLE   1,400 0 50,800