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
Expires: July 31, 2015
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
ACUITY INC COMMON 00508Y102 119,336 400 SH SOLE 400 0 0
ALPHABET INC CLASS A 02079K305 11,186,023 63,474 SH SOLE 63,474 0 0
AMERICAN EXPRESS CO COMMON 025816109 14,350,910 44,990 SH SOLE 44,990 0 0
AXOS FINANCIAL COMMON 05465C100 98,852 1,300 SH SOLE 1,300 0 0
BECTON DICKINSON COMMON 075887109 9,141,308 53,070 SH SOLE 53,070 0 0
BERKSHIRE HATHAWAY CLASS B 084670702 21,674,086 44,618 SH SOLE 44,618 0 0
BIOGEN INC COMMON 09062X103 1,671,603 13,310 SH SOLE 13,310 0 0
BOK FINL CORP COMMON 05561Q201 126,919 1,300 SH SOLE 1,300 0 0
BORG WARNER INC COMMON 099724106 2,793,236 83,430 SH SOLE 83,430 0 0
BROWN FORMAN CORP CLASS B 115637209 12,276,880 456,220 SH SOLE 456,220 0 0
C H ROBINSON WLDWIDE COMMON 12541W209 14,640,243 152,582 SH SOLE 152,582 0 0
COGNEX CORP COMMON 192422103 117,364 3,700 SH SOLE 3,700 0 0
COMMERCIAL INTL BK GDR REP 1 ORD EGP10 201712205 35,637,457 21,212,772 SH SOLE 21,212,772 0 0
COPA HOLDINGS CLASS A P31076105 278,634,948 2,533,736 SH SOLE 1,838,719 0 695,017
CULLEN FROST BANKERS COMMON 229899109 16,148,480 125,630 SH SOLE 125,630 0 0
DOLLAR GEN CORP COMMON 256677105 4,430,052 38,731 SH SOLE 38,731 0 0
DONALDSON INC COMMON 257651109 19,124,025 275,761 SH SOLE 275,761 0 0
EAGLE MATERIALS COMMON 26969P108 121,266 600 SH SOLE 600 0 0
EXXON MOBIL CORP COMMON 30231G102 11,069,982 102,690 SH SOLE 102,690 0 0
FMC CORP COMMON 302491303 66,800 1,600 SH SOLE 1,600 0 0
GENTEX CORP COMMON 371901109 13,008,404 591,560 SH SOLE 591,560 0 0
GILEAD SCIENCES INC COMMON 375558103 20,574,146 185,570 SH SOLE 185,570 0 0
GRACO INC COMMON 384109104 60,179 700 SH SOLE 700 0 0
HENRY SCHEIN INC COM 806407102 21,760,865 297,890 SH SOLE 297,890 0 0
JOHNSON & JOHNSON COMMON 478160104 12,539,248 82,090 SH SOLE 82,090 0 0
LANDSTAR SYS INC COMMON 515098101 97,314 700 SH SOLE 700 0 0
LITTELFUSE INC COM USD0.01 537008104 158,711 700 SH SOLE 700 0 0
MARKEL GROUP INC COMMON 570535104 24,345,821 12,189 SH SOLE 12,189 0 0
META PLATFORMS INC COM USD0.000006 CL A 30303M102 21,476,943 29,098 SH SOLE 29,098 0 0
MSC INDL DIRECT INC CLASS A 553530106 16,120,642 189,610 SH SOLE 189,610 0 0
PRICE T ROWE GROUP COM 74144T108 17,048,462 176,668 SH SOLE 176,668 0 0
QUALCOMM INC COMMON 747525103 17,114,080 107,460 SH SOLE 107,460 0 0
RTX CORPORATION COM USD1 75513E101 14,693,993 100,630 SH SOLE 100,630 0 0
RYANAIR HLDGS PLC ADR EACH REPR 5 ORD 783513203 346,666,308 6,011,207 SH SOLE 3,338,184 0 2,673,023
SAMSUNG ELECTRONIC GDR REP 1/2 ORD REGS 796050888 183,397,974 166,574 SH SOLE 119,927 0 46,647
SIMPSON MANUFACTURIN COMMON 829073105 62,124 400 SH SOLE 400 0 0
SNAP-ON INC COMMON 833034101 14,650,354 47,080 SH SOLE 47,080 0 0
TORO CO COMMON 891092108 4,424,568 62,600 SH SOLE 62,600 0 0
WAFD INC COMMON 938824109 102,480 3,500 SH SOLE 3,500 0 0
WALT DISNEY CO COM 254687106 22,082,461 178,070 SH SOLE 178,070 0 0
WELLS FARGO & CO COMMON 949746101 20,478,992 255,604 SH SOLE 255,604 0 0
XPEL INC COMMON 98379L100 4,275,690 119,100 SH SOLE 119,100 0 0
STATE BK OF INDIA GDR(2 INR10 REG S) 856552203 9,096,385 95,450 SH SOLE 0 0 95,450