The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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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 | (x$1000) | PRN AMT | PRN | CALL | DISCRETION | MANAGER | SOLE | SHARED | NONE |
| 3M Co. | COM | 88579Y101 | 1,402 | 10,000 | SH | SOLE | 10,000 | 0 | 0 | ||
| Altria Group Inc. | COM | 02209S103 | 770 | 20,048 | SH | SOLE | 20,048 | 0 | 0 | ||
| American Homes 4 Rent | COM | 02665T306 | 57,398 | 3,543,097 | SH | SOLE | 2,470,070 | 0 | 1,073,027 | ||
| American Homes 4 Rent | CALL | 02665T504 | 5,660 | 226,400 | SH | Call | SOLE | 222,000 | 0 | 4,400 | |
| AmerisourceBergen Corp. | COM | 03073E105 | 139,229 | 1,980,221 | SH | SOLE | 1,950,415 | 0 | 29,806 | ||
| Apple Inc. | COM | 037833100 | 192,897 | 345,162 | SH | SOLE | 341,214 | 0 | 3,948 | ||
| Ares Capital Corp. | COM | 04010L103 | 70,280 | 3,954,983 | SH | SOLE | 2,619,812 | 0 | 1,335,171 | ||
| Argo Group International Holdings Ltd. | COM | 002499543 | 5,750 | 123,692 | SH | SOLE | 120,193 | 0 | 3,499 | ||
| Arthur J. Gallagher & Co. | COM | 363576109 | 71,574 | 1,525,113 | SH | SOLE | 996,538 | 0 | 528,575 | ||
| Bank of Montreal | COM | 063671101 | 999 | 15,000 | SH | SOLE | 15,000 | 0 | 0 | ||
| Bank of Nova Scotia | COM | 064149107 | 204,509 | 3,274,371 | SH | SOLE | 3,228,480 | 0 | 45,891 | ||
| Barrick Gold Corp. | COM | 067901108 | 206 | 11,700 | SH | SOLE | 11,700 | 0 | 0 | ||
| Baxter International Inc. | COM | 071813109 | 123,187 | 1,773,283 | SH | SOLE | 1,752,303 | 0 | 20,980 | ||
| BB&T Corp. | COM | 054937107 | 209,281 | 5,616,436 | SH | SOLE | 5,560,204 | 0 | 56,232 | ||
| Becton, Dickinson & Co. | COM | 075887109 | 103,896 | 940,316 | SH | SOLE | 925,869 | 0 | 14,447 | ||
| Berkshire Hathaway Inc. | CL A | 084670108 | 48,389 | 272 | SH | SOLE | 270 | 0 | 2 | ||
| Berkshire Hathaway Inc. | CL B | 084670702 | 5,978 | 50,418 | SH | SOLE | 42,231 | 0 | 8,187 | ||
| Booz Allen Hamilton Holding Corp. | COM | 099502106 | 40,771 | 2,129,037 | SH | SOLE | 1,477,011 | 0 | 652,026 | ||
| Brookfield Infrastructure Partners LP | COM | G16252101 | 18,821 | 480,638 | SH | SOLE | 430,137 | 0 | 50,501 | ||
| Brown & Brown Inc. | COM | 115236101 | 53,554 | 1,706,098 | SH | SOLE | 1,117,865 | 0 | 588,233 | ||
| Canadian National Railway Co. | COM | 136375102 | 159,239 | 2,796,676 | SH | SOLE | 2,769,376 | 0 | 27,300 | ||
| Canadian Natural Resources Ltd. | COM | 136385101 | 208,151 | 6,159,996 | SH | SOLE | 6,137,028 | 0 | 22,968 | ||
| CARBO Ceramics Inc. | COM | 140781105 | 47,940 | 411,400 | SH | SOLE | 280,710 | 0 | 130,690 | ||
| CBIZ Inc. | COM | 124805102 | 44,832 | 4,915,782 | SH | SOLE | 3,323,161 | 0 | 1,592,621 | ||
| Cenovus Energy Inc. | COM | 15135U109 | 194,819 | 6,816,110 | SH | SOLE | 6,789,960 | 0 | 26,150 | ||
| Cisco Systems Inc. | COM | 17275R102 | 188,546 | 8,419,024 | SH | SOLE | 8,321,967 | 0 | 97,057 | ||
| Coastal Contacts Inc. | COM | 19044R207 | 19,937 | 2,420,703 | SH | SOLE | 2,420,703 | 0 | 0 | ||
| Coca-Cola Femsa S.A.B. de C.V. | SPONSORED ADR | 191241108 | 6,003 | 49,298 | SH | SOLE | 49,298 | 0 | 0 | ||
| Copart Inc. | COM | 217204106 | 4,383 | 119,579 | SH | SOLE | 116,300 | 0 | 3,279 | ||
| Corporate Executive Board Co. | COM | 21988R102 | 71,358 | 921,587 | SH | SOLE | 596,068 | 0 | 325,519 | ||
| DeVry Education Group Inc. | COM | 251893103 | 81,636 | 2,299,593 | SH | SOLE | 1,556,953 | 0 | 742,640 | ||
| Diageo PLC | SPONSORED ADR | 25243Q205 | 627 | 4,736 | SH | SOLE | 4,736 | 0 | 0 | ||
| Dun & Bradstreet Corp. | COM | 26483E100 | 3,333 | 27,152 | SH | SOLE | 26,411 | 0 | 741 | ||
| Eaton Vance Variable Rate Income Trust | COM | 278279104 | 10,350 | 677,790 | SH | SOLE | 677,790 | 0 | 0 | ||
| Emerson Electric Co. | COM | 291011104 | 105,385 | 1,501,633 | SH | SOLE | 1,477,937 | 0 | 23,696 | ||
| Enbridge Inc. | COM | 29250N105 | 629 | 14,421 | SH | SOLE | 14,421 | 0 | 0 | ||
| EnCana Corp. | COM | 292505104 | 996 | 55,254 | SH | SOLE | 54,254 | 0 | 1,000 | ||
| Entercom Communications Corp. | CL A | 293639100 | 6,519 | 620,241 | SH | SOLE | 620,241 | 0 | 0 | ||
| Equifax Inc. | COM | 294429105 | 202,002 | 2,923,746 | SH | SOLE | 2,460,203 | 0 | 463,543 | ||
| Expedia Inc. | COM | 30212P303 | 52,418 | 752,485 | SH | SOLE | 526,835 | 0 | 225,650 | ||
| Federated Investors Inc. | CL B | 314211103 | 46,189 | 1,603,769 | SH | SOLE | 1,095,954 | 0 | 507,815 | ||
| FirstService Corp. | SUB VTG SH | 33761N109 | 7,502 | 174,400 | SH | SOLE | 174,400 | 0 | 0 | ||
| FXCM Inc. | CL A | 302693106 | 52,949 | 2,967,994 | SH | SOLE | 1,982,621 | 0 | 985,373 | ||
| General Electric Co. | COM | 369604103 | 1,402 | 50,000 | SH | SOLE | 50,000 | 0 | 0 | ||
| Gentex Corp. | COM | 371901109 | 102,073 | 3,094,063 | SH | SOLE | 2,133,173 | 0 | 960,890 | ||
| GlaxoSmithKline PLC | SPONSORED ADR | 37733W105 | 473 | 8,867 | SH | SOLE | 8,867 | 0 | 0 | ||
| Google Inc. | CL A | 38259P508 | 99,294 | 88,599 | SH | SOLE | 87,188 | 0 | 1,411 | ||
| Graco Inc. | COM | 384109104 | 41,784 | 534,874 | SH | SOLE | 355,572 | 0 | 179,302 | ||
| Harris Corp. | COM | 413875105 | 10,040 | 143,815 | SH | SOLE | 140,251 | 0 | 3,564 | ||
| HCC Insurance Holdings Inc. | COM | 404132102 | 68,679 | 1,488,490 | SH | SOLE | 932,263 | 0 | 556,227 | ||
| Hilltop Holdings Inc. | COM | 432748101 | 107,675 | 4,655,202 | SH | SOLE | 2,953,642 | 0 | 1,701,560 | ||
| Humana Inc. | COM | 444859102 | 100,328 | 971,984 | SH | SOLE | 956,470 | 0 | 15,514 | ||
| Imperial Oil Ltd. | COM | 453038408 | 90,554 | 2,047,491 | SH | SOLE | 2,039,391 | 0 | 8,100 | ||
| Jacobs Engineering Group Inc. | COM | 469814107 | 4,695 | 74,536 | SH | SOLE | 72,495 | 0 | 2,041 | ||
| Johnson & Johnson | COM | 478160104 | 241,133 | 2,627,893 | SH | SOLE | 2,599,906 | 0 | 27,987 | ||
| JTH Holding Inc. | CL A | 46637N103 | 379 | 15,586 | SH | SOLE | 15,586 | 0 | 0 | ||
| Kayne Anderson Energy Development Co. | COM | 48660Q102 | 25,575 | 914,362 | SH | SOLE | 593,579 | 0 | 320,783 | ||
| Kraft Foods Group Inc. | COM | 50076Q106 | 809 | 15,000 | SH | SOLE | 15,000 | 0 | 0 | ||
| Laboratory Corporation of America Holdings | COM | 50540R409 | 2,613 | 28,596 | SH | SOLE | 27,827 | 0 | 769 | ||
| Leucadia National Corp. | COM | 527288104 | 162,382 | 5,729,787 | SH | SOLE | 4,907,479 | 0 | 822,308 | ||
| LoJack Corp. | COM | 539451104 | 392 | 108,469 | SH | SOLE | 108,469 | 0 | 0 | ||
| Lorillard Inc. | COM | 544147101 | 112,112 | 2,212,156 | SH | SOLE | 2,174,961 | 0 | 37,195 | ||
| M&T Bank Corp. | COM | 55261F104 | 213 | 1,831 | SH | SOLE | 1,831 | 0 | 0 | ||
| Madison Square Garden Co. | COM | 55826P100 | 41,130 | 714,309 | SH | SOLE | 494,701 | 0 | 219,608 | ||
| MarketAxess Holdings Inc. | COM | 57060D108 | 105,261 | 1,574,110 | SH | SOLE | 952,564 | 0 | 621,546 | ||
| McCormick & Co., Inc. | COM | 579780206 | 3,808 | 55,258 | SH | SOLE | 55,258 | 0 | 0 | ||
| McDonald's Corp. | COM | 580135101 | 2,684 | 27,657 | SH | SOLE | 27,657 | 0 | 0 | ||
| Merck & Co., Inc. | COM | 58933Y105 | 480 | 9,589 | SH | SOLE | 9,589 | 0 | 0 | ||
| MICROS Systems Inc. | COM | 594901100 | 54,906 | 957,045 | SH | SOLE | 677,602 | 0 | 279,443 | ||
| Microsoft Corp. | COM | 594918104 | 104,457 | 2,790,733 | SH | SOLE | 2,751,732 | 0 | 39,001 | ||
| Mondelez International Inc. | COM | 609207105 | 530 | 15,000 | SH | SOLE | 15,000 | 0 | 0 | ||
| Moody's Corp. | COM | 615369105 | 3,370 | 42,947 | SH | SOLE | 41,850 | 0 | 1,097 | ||
| Morgan Stanley | COM | 617446448 | 618 | 19,694 | SH | SOLE | 19,694 | 0 | 0 | ||
| MSCI Inc. | COM | 55354G100 | 74,582 | 1,705,892 | SH | SOLE | 1,160,020 | 0 | 545,872 | ||
| Northern Trust Corp. | COM | 665859104 | 110,688 | 1,788,458 | SH | SOLE | 1,762,494 | 0 | 25,964 | ||
| Novartis AG | SPONSORED ADR | 66987V109 | 648 | 8,060 | SH | SOLE | 8,060 | 0 | 0 | ||
| Nutraceutical International Corp. | COM | 67060Y101 | 28,178 | 1,052,207 | SH | SOLE | 673,029 | 0 | 379,178 | ||
| Occidental Petroleum Corp. | COM | 674599105 | 197,710 | 2,082,795 | SH | SOLE | 2,060,860 | 0 | 21,935 | ||
| Oracle Corp. | COM | 68389X105 | 212,936 | 5,577,626 | SH | SOLE | 5,516,920 | 0 | 60,706 | ||
| Penske Auto Group Inc. | COM | 70959W103 | 102,278 | 2,168,738 | SH | SOLE | 1,411,301 | 0 | 757,437 | ||
| PepsiCo Inc. | COM | 713448108 | 151,430 | 1,825,914 | SH | SOLE | 1,807,490 | 0 | 18,424 | ||
| Pfizer Inc. | COM | 717081103 | 870 | 28,400 | SH | SOLE | 284,003 | 0 | 0 | ||
| Philip Morris International Inc. | COM | 718172109 | 226,234 | 2,600,578 | SH | SOLE | 2,568,036 | 0 | 32,542 | ||
| Potash Corporation of Saskatchewan Inc. | COM | 73755L107 | 229,725 | 6,977,049 | SH | SOLE | 6,885,749 | 0 | 91,300 | ||
| Primerica Inc. | COM | 74164M108 | 84,572 | 1,970,914 | SH | SOLE | 1,350,273 | 0 | 620,641 | ||
| Procter & Gamble Co. | COM | 742718109 | 86,312 | 1,060,215 | SH | SOLE | 1,044,455 | 0 | 15,760 | ||
| Qualcomm Inc. | COM | 747525103 | 116,983 | 1,575,534 | SH | SOLE | 1,550,434 | 0 | 25,100 | ||
| RE/MAX Holdings Inc. | COM | 75524W108 | 22,426 | 699,284 | SH | SOLE | 472,137 | 0 | 227,147 | ||
| Ritchie Bros. Auctioneers Inc. | COM | 767744105 | 247,771 | 10,805,554 | SH | SOLE | 10,691,025 | 0 | 114,529 | ||
| Rogers Communications Inc. | CL B | 775109200 | 100,821 | 2,230,782 | SH | SOLE | 2,198,742 | 0 | 32,040 | ||
| Royal Bank of Canada | COM | 780087102 | 196,366 | 2,924,741 | SH | SOLE | 2,882,641 | 0 | 42,100 | ||
| Shaw Communications Inc. | CL B | 82028K200 | 157,736 | 6,490,067 | SH | SOLE | 6,409,567 | 0 | 80,500 | ||
| Solera Holdings Inc. | COM | 83421A104 | 42,859 | 605,702 | SH | SOLE | 397,993 | 0 | 207,709 | ||
| SS&C Technologies Holdings Inc. | COM | 78467J100 | 27,591 | 623,383 | SH | SOLE | 456,247 | 0 | 167,136 | ||
| Strayer Education Inc. | COM | 863236105 | 15,714 | 455,875 | SH | SOLE | 346,559 | 0 | 109,316 | ||
| Synnex Corp. | COM | 87162W100 | 70,811 | 1,050,606 | SH | SOLE | 722,632 | 0 | 327,974 | ||
| Talisman Energy Inc. | COM | 87425E103 | 187 | 16,100 | SH | SOLE | 16,100 | 0 | 0 | ||
| Tech Data Corp. | COM | 878237106 | 46,353 | 898,310 | SH | SOLE | 539,029 | 0 | 359,281 | ||
| Teleflex Inc. | COM | 879369106 | 51,587 | 549,612 | SH | SOLE | 369,274 | 0 | 180,338 | ||
| TeleTech Holdings Inc. | COM | 879939106 | 3,672 | 153,392 | SH | SOLE | 149,085 | 0 | 4,307 | ||
| Thomson Reuters Corp. | COM | 884903105 | 211,754 | 5,606,719 | SH | SOLE | 5,544,633 | 0 | 62,086 | ||
| Toronto-Dominion Bank | COM | 891160509 | 189,575 | 2,014,106 | SH | SOLE | 1,984,383 | 0 | 29,723 | ||
| Tronox Ltd. | CL A | Q9235V101 | 29,849 | 1,293,860 | SH | SOLE | 1,171,126 | 0 | 122,734 | ||
| U.S. Concrete Inc. | COM | 90333L201 | 411 | 18,161 | SH | SOLE | 18,161 | 0 | 0 | ||
| Union Pacific Corp. | COM | 907818108 | 179,925 | 1,075,293 | SH | SOLE | 1,063,960 | 0 | 11,333 | ||
| United Technologies Corp. | COM | 913017109 | 184,967 | 1,629,928 | SH | SOLE | 1,611,617 | 0 | 18,311 | ||
| Valassis Communications Inc. | COM | 918866104 | 51,694 | 1,509,308 | SH | SOLE | 1,013,324 | 0 | 495,984 | ||
| Walgreen Co. | COM | 931422109 | 72,296 | 1,258,634 | SH | SOLE | 1,238,805 | 0 | 19,829 | ||
| Wal-Mart Stores Inc. | COM | 931142103 | 1,180 | 15,000 | SH | SOLE | 15,000 | 0 | 0 | ||
| Weight Watchers International Inc. | COM | 948626106 | 34,531 | 1,048,605 | SH | SOLE | 730,906 | 0 | 317,699 | ||
| Western Union Co. | COM | 959802109 | 100,305 | 5,814,778 | SH | SOLE | 5,722,350 | 0 | 92,428 | ||
| White Mountains Insurance Group, Ltd. | COM | G9618E107 | 3,994 | 6,623 | SH | SOLE | 6,440 | 0 | 183 | ||