COOKE & BIELER LP Diversified Active

Name: COOKE & BIELER LP Q3 2026 13F Filing | 13F Explorer
Creator: COOKE & BIELER LP
Published: 2026-10-21

Location: Philadelphia, PA

CIK: 0000024386 · Show all filings

Period: Q3 2026 (← Previous)

Filing Date: Oct 21, 2026

Total Value: $6.356B (100.0% shares, 0.0% debt)

Holdings (100)

New Positions (4)

ABG Asbury Automotive Group Inc 1.0%

Value $65.17M Shares 378,221 Share Price $172.30 Est. Cost/Share $209.57 Unrealized @ Report Date -17.8%

MFP Midera Food Processing, Inc. 0.3%

Value $19.64M Shares 481,199 Share Price $40.82 Est. Cost/Share $44.38 Unrealized @ Report Date -8.0%

LPX Louisiana Pacific Corp 0.2%

Value $12.54M Shares 194,210 Share Price $64.55 Est. Cost/Share $71.53 Unrealized @ Report Date -9.8%

GTES Gates Industrial Corporation P 0.1%

Value $9.255M Shares 353,250 Share Price $26.20 Est. Cost/Share $26.20 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
ABG	Asbury Automotive Group Inc	378,221	$65.17M	1.0%	$172.30	$209.57	-17.8%	COM	043436104
MFP	Midera Food Processing, Inc.	481,199	$19.64M	0.3%	$40.82	$44.38	-8.0%	COM	59739R104
LPX	Louisiana Pacific Corp	194,210	$12.54M	0.2%	$64.55	$71.53	-9.8%	COM	546347105
GTES	Gates Industrial Corporation P	353,250	$9.255M	0.1%	$26.20	$26.20	—	COM	G39104107

Increased Positions (11)

AWI Armstrong World Industries Inc 1.0%

Value $63.54M (+72.7%) Shares 392,406 (+71.1%) Share Price $161.93 Est. Cost/Share $130.58 Unrealized @ Report Date +24.0%

MKSI MKS Inc. 0.8%

Value $48.05M (-34.6%) Shares 181,089 (+9.6%) Share Price $265.36 Est. Cost/Share $124.28 Unrealized @ Report Date +113.5%

IFF International Flavors & Fragra 0.8%

Value $53.91M (+74.5%) Shares 645,778 (+65.6%) Share Price $83.48 Est. Cost/Share $74.14 Unrealized @ Report Date +12.6%

ESAB ESAB Corporation 2.3%

Value $145M (+15.8%) Shares 2,200,682 (+73.3%) Share Price $65.88 Est. Cost/Share $81.03 Unrealized @ Report Date -18.7%

MIDD Middleby Corp 1.5%

Value $96.59M (-11.1%) Shares 932,553 (+47.6%) Share Price $103.58 Est. Cost/Share $135.38 Unrealized @ Report Date -23.5%

RUSHA Rush Enterprises Inc. Class A 0.2%

Value $14.92M (-30.1%) Shares 325,633 (+11.4%) Share Price $45.81 Est. Cost/Share $43.28 Unrealized @ Report Date +5.8%

EPAM EPAM Systems Inc. 0.3%

Value $17.83M (+52.0%) Shares 164,523 (+11.3%) Share Price $108.36 Est. Cost/Share $105.44 Unrealized @ Report Date +2.8%

APG APi Group 1.2%

Value $78.39M (+3.5%) Shares 2,030,753 (+13.6%) Share Price $38.60 Est. Cost/Share $24.39 Unrealized @ Report Date +58.3%

WTM White Mountains Insurance Grou 2.8%

Value $175M (-0.9%) Shares 87,203 (+2.4%) Share Price $2006.49 Est. Cost/Share $1841.80 Unrealized @ Report Date +8.9%

SSD Simpson Manufacturing Co Inc 0.2%

Value $12.78M (-9.6%) Shares 74,794 (+10.8%) Share Price $170.88 Est. Cost/Share $175.68 Unrealized @ Report Date -2.7%

EPAC Enerpac Tool Group Corp 0.7%

Value $45.54M (-1.1%) Shares 1,305,296 (+1.6%) Share Price $34.89 Est. Cost/Share $30.55 Unrealized @ Report Date +14.2%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
AWI	Armstrong World Industries Inc	392,406 (+71.1%)	$63.54M (+72.7%)	1.0%	$161.93	$130.58	+24.0%	COM	04247X102
MKSI	MKS Inc.	181,089 (+9.6%)	$48.05M (-34.6%)	0.8%	$265.36	$124.28	+113.5%	COM	55306N104
IFF	International Flavors & Fragra	645,778 (+65.6%)	$53.91M (+74.5%)	0.8%	$83.48	$74.14	+12.6%	COM	459506101
ESAB	ESAB Corporation	2,200,682 (+73.3%)	$145M (+15.8%)	2.3%	$65.88	$81.03	-18.7%	COM	29605J106
MIDD	Middleby Corp	932,553 (+47.6%)	$96.59M (-11.1%)	1.5%	$103.58	$135.38	-23.5%	COM	596278101
RUSHA	Rush Enterprises Inc. Class A	325,633 (+11.4%)	$14.92M (-30.1%)	0.2%	$45.81	$43.28	+5.8%	COM	781846209
EPAM	EPAM Systems Inc.	164,523 (+11.3%)	$17.83M (+52.0%)	0.3%	$108.36	$105.44	+2.8%	COM	29414B104
APG	APi Group	2,030,753 (+13.6%)	$78.39M (+3.5%)	1.2%	$38.60	$24.39	+58.3%	COM	00187Y100
WTM	White Mountains Insurance Grou	87,203 (+2.4%)	$175M (-0.9%)	2.8%	$2006.49	$1841.80	+8.9%	COM	G9618E107
SSD	Simpson Manufacturing Co Inc	74,794 (+10.8%)	$12.78M (-9.6%)	0.2%	$170.88	$175.68	-2.7%	COM	829073105
EPAC	Enerpac Tool Group Corp	1,305,296 (+1.6%)	$45.54M (-1.1%)	0.7%	$34.89	$30.55	+14.2%	COM	292765104

Exited Positions (7)

FUL H.B. Fuller Company 1.0%

Value $64.41M Shares 1,105,022 Share Price $58.29 * Est. Cost/Share $58.51 Unrealized @ Report Date -15.4%

AJG Arthur J. Gallagher & Co. 0.6%

Value $40.4M Shares 176,000 Share Price $229.57 Est. Cost/Share $227.41 Unrealized @ Report Date +0.3%

JNJ Johnson & Johnson 0.5%

Value $31.35M Shares 123,440 Share Price $253.97 * Est. Cost/Share $110.06 Unrealized @ Report Date +140.5%

MKTX MarketAxess Holdings Inc 0.4%

Value $27.1M Shares 238,755 Share Price $113.49 * Est. Cost/Share $170.77 Unrealized @ Report Date -4.0%

IFF International Flavors & Fragra 0.3%

Value $16.79M Shares 212,000 Share Price $79.22 * Est. Cost/Share $74.14 Unrealized @ Report Date +12.6%

IDT IDT Corporation Cl B 0.2%

Value $14.08M Shares 242,039 Share Price $58.16 * Est. Cost/Share $50.09 Unrealized @ Report Date +59.7%

AESI Atlas Energy Solutions Inc 0.0%

Value $348K Shares 20,930 Share Price $16.61 * Est. Cost/Share $17.15 Unrealized @ Report Date -30.0%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
FUL	H.B. Fuller Company	1,105,022	$64.41M	1.0%	$58.29 *	$58.51	-15.4%	—	359694106
AJG	Arthur J. Gallagher & Co.	176,000	$40.4M	0.6%	$229.57	$227.41	+0.3%	COM	363576109
JNJ	Johnson & Johnson	123,440	$31.35M	0.5%	$253.97 *	$110.06	+140.5%	COM	478160104
MKTX	MarketAxess Holdings Inc	238,755	$27.1M	0.4%	$113.49 *	$170.77	-4.0%	—	57060D108
IFF	International Flavors & Fragra	212,000	$16.79M	0.3%	$79.22 *	$74.14	+12.6%	COM	459506101
IDT	IDT Corporation Cl B	242,039	$14.08M	0.2%	$58.16 *	$50.09	+59.7%	—	448947507
AESI	Atlas Energy Solutions Inc	20,930	$348K	0.0%	$16.61 *	$17.15	-30.0%	—	642045108

Decreased Positions (78)

GIL Gildan Activewear 3.5%

Value $222M (-34.1%) Shares 5,200,323 (-20.3%) Share Price $42.63 Est. Cost/Share $26.00 Unrealized @ Report Date +64.0%

RBA RB Global Inc 3.1%

Value $198M (-31.5%) Shares 2,431,967 (-1.9%) Share Price $81.39 Est. Cost/Share $58.16 Unrealized @ Report Date +39.9%

FNF Fidelity National Financial In 2.2%

Value $137M (-39.1%) Shares 3,543,952 (-25.7%) Share Price $38.65 Est. Cost/Share $32.19 Unrealized @ Report Date +20.1%

CCI Crown Castle Inc 2.2%

Value $137M (-33.5%) Shares 2,060,322 (-24.5%) Share Price $66.65 Est. Cost/Share $91.89 Unrealized @ Report Date —

PPG PPG Industries 2.0%

Value $129M (-33.4%) Shares 1,231,884 (-22.6%) Share Price $104.33 Est. Cost/Share $114.23 Unrealized @ Report Date -8.7%

WAT Waters Corp 0.3%

Value $15.97M (-79.7%) Shares 36,335 (-82.7%) Share Price $439.39 Est. Cost/Share $342.06 Unrealized @ Report Date +28.5%

RNR RenaissanceRe 2.9%

Value $184M (-25.2%) Shares 578,315 (-25.5%) Share Price $318.23 Est. Cost/Share $207.01 Unrealized @ Report Date +53.7%

UNH UnitedHealth Group 1.2%

Value $78.25M (-43.4%) Shares 213,174 (-35.9%) Share Price $367.08 Est. Cost/Share $455.38 Unrealized @ Report Date -19.4%

BN Brookfield Corp 1.4%

Value $91.03M (-38.5%) Shares 2,496,727 (-28.2%) Share Price $36.46 Est. Cost/Share $29.96 Unrealized @ Report Date +21.7%

WWD Woodward 1.2%

Value $79.38M (-41.2%) Shares 241,568 (-23.8%) Share Price $328.59 Est. Cost/Share $109.60 Unrealized @ Report Date +199.8%

ACGL Arch Capital Group 2.7%

Value $169M (-21.5%) Shares 1,831,651 (-17.5%) Share Price $92.36 Est. Cost/Share $89.88 Unrealized @ Report Date +2.8%

FISV Fiserv Inc 1.6%

Value $101M (-30.7%) Shares 2,237,022 (-24.8%) Share Price $45.18 Est. Cost/Share $86.56 Unrealized @ Report Date -47.8%

CB Chubb Limited 1.1%

Value $72.48M (-38.1%) Shares 222,836 (-35.2%) Share Price $325.25 Est. Cost/Share $183.00 Unrealized @ Report Date +77.7%

SUNB Sunbelt Rentals Holdings Inc 2.4%

Value $153M (-22.4%) Shares 2,094,665 (-21.1%) Share Price $73.21 Est. Cost/Share $70.19 Unrealized @ Report Date +4.3%

OMC Omnicom Group 1.9%

Value $121M (-26.7%) Shares 1,642,016 (-27.5%) Share Price $73.63 Est. Cost/Share $62.83 Unrealized @ Report Date +17.2%

CRL Charles River Laboratories 2.0%

Value $127M (-25.6%) Shares 432,121 (-42.8%) Share Price $295.01 Est. Cost/Share $183.26 Unrealized @ Report Date +61.0%

CSL Carlisle Companies Incorporate 1.2%

Value $74.72M (-36.8%) Shares 231,937 (-28.9%) Share Price $322.17 Est. Cost/Share $354.41 Unrealized @ Report Date -9.1%

DIS The Walt Disney Company 1.6%

Value $102M (-29.7%) Shares 976,217 (-35.5%) Share Price $104.90 Est. Cost/Share $106.45 Unrealized @ Report Date -1.5%

BAC Bank of America 1.0%

Value $62.5M (-40.4%) Shares 1,148,262 (-37.6%) Share Price $54.43 Est. Cost/Share $36.16 Unrealized @ Report Date +50.5%

VVV Valvoline Inc 1.5%

Value $95.13M (-30.7%) Shares 3,156,308 (-9.1%) Share Price $30.14 Est. Cost/Share $34.64 Unrealized @ Report Date -13.0%

ARMK Aramark 1.4%

Value $90.5M (-31.7%) Shares 1,690,085 (-27.4%) Share Price $53.55 Est. Cost/Share $38.18 Unrealized @ Report Date +40.2%

AER AerCap Holdings N.V. 1.5%

Value $93.53M (-30.9%) Shares 651,665 (-29.8%) Share Price $143.52 Est. Cost/Share $49.43 Unrealized @ Report Date +190.3%

NXPI NXP Semiconductors N.V. 0.4%

Value $28.17M (-58.2%) Shares 118,611 (-50.6%) Share Price $237.53 Est. Cost/Share $212.32 Unrealized @ Report Date +11.9%

CBRE CBRE Group Inc. Cl A 1.5%

Value $94.8M (-29.2%) Shares 737,916 (-25.7%) Share Price $128.47 Est. Cost/Share $106.95 Unrealized @ Report Date +20.1%

KHC The Kraft Heinz Company 0.8%

Value $49.94M (-43.0%) Shares 2,197,947 (-40.7%) Share Price $22.72 Est. Cost/Share $31.23 Unrealized @ Report Date -27.2%

ADP Automatic Data Processing Inc. 0.6%

Value $36.34M (-50.7%) Shares 140,819 (-57.2%) Share Price $258.06 Est. Cost/Share $228.14 Unrealized @ Report Date +13.1%

LH Labcorp Holdings 2.4%

Value $151M (-19.3%) Shares 490,641 (-26.7%) Share Price $308.11 Est. Cost/Share $199.75 Unrealized @ Report Date +54.2%

LKQ LKQ Corp 0.9%

Value $59.76M (-37.7%) Shares 2,617,610 (-28.2%) Share Price $22.83 Est. Cost/Share $43.72 Unrealized @ Report Date -47.8%

LAD Lithia Motors Inc 0.8%

Value $53.22M (-40.2%) Shares 182,353 (-40.5%) Share Price $291.83 Est. Cost/Share $297.04 Unrealized @ Report Date -1.8%

C Citigroup 0.4%

Value $24.36M (-59.4%) Shares 188,156 (-56.1%) Share Price $129.48 Est. Cost/Share $66.43 Unrealized @ Report Date +94.9%

VZ Verizon Communications 0.7%

Value $46.71M (-42.2%) Shares 1,018,273 (-46.7%) Share Price $45.87 Est. Cost/Share $37.97 Unrealized @ Report Date +20.8%

WMG Warner Music Group Corp Cl A 1.4%

Value $91.3M (-27.0%) Shares 3,306,697 (-28.4%) Share Price $27.61 Est. Cost/Share $27.28 Unrealized @ Report Date +1.2%

UL Unilever PLC ADR 0.6%

Value $40.91M (-44.7%) Shares 673,584 (-45.3%) Share Price $60.73 Est. Cost/Share $63.28 Unrealized @ Report Date -4.0%

AVY Avery Dennison Corp Com 1.4%

Value $85.87M (-26.5%) Shares 503,132 (-30.1%) Share Price $170.67 Est. Cost/Share $169.92 Unrealized @ Report Date +0.4%

COP ConocoPhillips 1.5%

Value $96.93M (-23.6%) Shares 774,526 (-36.6%) Share Price $125.15 Est. Cost/Share $98.81 Unrealized @ Report Date +26.7%

BAM Brookfield Asset Management - 1.7%

Value $108M (-21.6%) Shares 2,417,157 (-21.1%) Share Price $44.58 Est. Cost/Share $43.13 Unrealized @ Report Date +3.4%

XRAY Dentsply Sirona Inc 0.7%

Value $45.09M (-38.7%) Shares 5,089,385 (-26.5%) Share Price $8.86 Est. Cost/Share $39.60 Unrealized @ Report Date -77.6%

GBCI Glacier Bancorp Inc 1.4%

Value $90.3M (-23.6%) Shares 2,090,366 (-8.8%) Share Price $43.20 Est. Cost/Share $35.71 Unrealized @ Report Date +21.0%

SCHW Charles Schwab Corporation 0.6%

Value $36.4M (-42.5%) Shares 372,462 (-45.7%) Share Price $97.74 Est. Cost/Share $53.27 Unrealized @ Report Date +83.5%

ALLE Allegion PLC 1.6%

Value $104M (-18.8%) Shares 678,670 (-25.8%) Share Price $153.77 Est. Cost/Share $139.33 Unrealized @ Report Date +10.4%

INGR Ingredion Incorporated 1.2%

Value $75.29M (-23.4%) Shares 785,849 (-24.2%) Share Price $95.81 Est. Cost/Share $102.09 Unrealized @ Report Date -6.2%

EOG EOG Resources Inc 1.0%

Value $64.09M (-25.6%) Shares 465,218 (-30.0%) Share Price $137.76 Est. Cost/Share $105.80 Unrealized @ Report Date +30.2%

MDT Medtronic PLC 0.6%

Value $41.16M (-34.2%) Shares 477,037 (-40.3%) Share Price $86.29 Est. Cost/Share $86.32 Unrealized @ Report Date -0.0%

AJG Arthur J. Gallagher & Co. 1.8%

Value $115M (-15.3%) Shares 506,205 (-14.7%) Share Price $228.11 Est. Cost/Share $227.41 Unrealized @ Report Date +0.3%

ESNT Essent Group Ltd 1.4%

Value $86.16M (-18.8%) Shares 1,487,879 (-9.8%) Share Price $57.91 Est. Cost/Share $48.24 Unrealized @ Report Date +20.0%

RHP Ryman Hospitality Properties 1.8%

Value $116M (-14.5%) Shares 966,928 (-8.0%) Share Price $119.53 Est. Cost/Share $98.56 Unrealized @ Report Date —

BDX Becton Dickinson and Company 2.4%

Value $153M (-11.1%) Shares 854,452 (-24.8%) Share Price $179.00 Est. Cost/Share $213.61 Unrealized @ Report Date -16.2%

PGR Progressive Corporation 0.5%

Value $31.1M (-37.6%) Shares 150,023 (-34.2%) Share Price $207.31 Est. Cost/Share $206.34 Unrealized @ Report Date +0.5%

HAS Hasbro 1.2%

Value $78.82M (-18.7%) Shares 898,957 (-23.4%) Share Price $87.68 Est. Cost/Share $61.96 Unrealized @ Report Date +41.5%

DFH Dream Finders Homes Inc - A 0.3%

Value $16.25M (-49.7%) Shares 1,518,544 (-18.8%) Share Price $10.70 Est. Cost/Share $23.19 Unrealized @ Report Date -53.9%

TFX Teleflex Incorporated 1.8%

Value $113M (-12.2%) Shares 900,561 (-11.0%) Share Price $125.04 Est. Cost/Share $208.31 Unrealized @ Report Date -40.0%

HCA HCA Healthcare Inc. 0.4%

Value $22.57M (-39.9%) Shares 52,882 (-45.0%) Share Price $426.74 Est. Cost/Share $235.23 Unrealized @ Report Date +81.4%

COLB Columbia Banking System 0.5%

Value $34.75M (-27.8%) Shares 1,214,867 (-19.1%) Share Price $28.60 Est. Cost/Share $23.46 Unrealized @ Report Date +21.9%

TKR The Timken Company 0.6%

Value $35.97M (-26.7%) Shares 308,070 (-8.8%) Share Price $116.75 Est. Cost/Share $71.66 Unrealized @ Report Date +62.9%

MBC MasterBrand Inc. 0.2%

Value $13.29M (-49.4%) Shares 1,898,489 (-25.6%) Share Price $7.00 Est. Cost/Share $11.51 Unrealized @ Report Date -39.2%

IPAR Inter Parfums Inc. 0.2%

Value $13.27M (-49.3%) Shares 119,580 (-48.9%) Share Price $110.96 Est. Cost/Share $94.34 Unrealized @ Report Date +17.6%

WGO Winnebago 0.4%

Value $27.37M (-31.4%) Shares 1,037,909 (-18.7%) Share Price $26.37 Est. Cost/Share $46.60 Unrealized @ Report Date -43.4%

BV BrightView Holdings Inc 0.4%

Value $23.11M (-35.0%) Shares 2,310,933 (-7.9%) Share Price $10.00 Est. Cost/Share $13.50 Unrealized @ Report Date -25.9%

JNJ Johnson & Johnson 0.3%

Value $21.31M (-36.4%) Shares 80,499 (-39.0%) Share Price $264.74 Est. Cost/Share $110.06 Unrealized @ Report Date +140.5%

JBI Janus International Group 0.3%

Value $16.4M (-42.0%) Shares 4,010,765 (-21.4%) Share Price $4.09 Est. Cost/Share $11.82 Unrealized @ Report Date -65.4%

MKL Markel Group 0.7%

Value $44.31M (-20.9%) Shares 25,877 (-9.7%) Share Price $1712.45 Est. Cost/Share $1481.01 Unrealized @ Report Date +15.6%

OXY Occidental Petroleum 1.5%

Value $97.59M (-9.5%) Shares 1,764,179 (-20.5%) Share Price $55.32 Est. Cost/Share $55.29 Unrealized @ Report Date +0.0%

MBUU Malibu Boats Inc - A 0.3%

Value $21.79M (-28.0%) Shares 950,881 (-13.9%) Share Price $22.92 Est. Cost/Share $47.94 Unrealized @ Report Date -52.2%

MTB M&T Bank Corporation 1.0%

Value $64.19M (-9.9%) Shares 295,000 (-1.5%) Share Price $217.60 Est. Cost/Share $155.65 Unrealized @ Report Date +39.8%

STC Stewart Information Services 0.3%

Value $17.37M (-28.9%) Shares 349,448 (-5.6%) Share Price $49.71 Est. Cost/Share $51.25 Unrealized @ Report Date -3.0%

VREX Varex Imaging Corporation 0.3%

Value $17.43M (+67.2%) Shares 944,511 (-5.5%) Share Price $18.45 Est. Cost/Share $23.46 Unrealized @ Report Date -21.4%

TTEK Tetra Tech Inc 0.7%

Value $44.59M (-13.6%) Shares 1,353,243 (-24.2%) Share Price $32.95 Est. Cost/Share $29.35 Unrealized @ Report Date +12.3%

CNMD CONMED Corporation 0.4%

Value $25.04M (+33.4%) Shares 541,608 (-5.6%) Share Price $46.23 Est. Cost/Share $69.43 Unrealized @ Report Date -33.4%

MSA MSA Safety 1.9%

Value $121M (-4.7%) Shares 678,102 (-6.5%) Share Price $177.88 Est. Cost/Share $175.69 Unrealized @ Report Date +1.2%

BUR Burford Capital Limited 0.2%

Value $11.29M (-27.2%) Shares 2,880,725 (-23.8%) Share Price $3.92 Est. Cost/Share $12.34 Unrealized @ Report Date -68.2%

HNI HNI Corporation 0.4%

Value $28.32M (-12.3%) Shares 624,881 (-21.8%) Share Price $45.32 Est. Cost/Share $45.94 Unrealized @ Report Date -1.4%

CBSH Commerce Bancshares 0.5%

Value $30.6M (-10.4%) Shares 558,940 (-5.5%) Share Price $54.74 Est. Cost/Share $43.71 Unrealized @ Report Date +25.2%

PRGO Perrigo Co PLC 0.2%

Value $15.31M (+23.9%) Shares 1,037,041 (-12.8%) Share Price $14.76 Est. Cost/Share $41.51 Unrealized @ Report Date -64.4%

WSFS WSFS Financial 0.4%

Value $23.65M (-6.7%) Shares 313,020 (-5.2%) Share Price $75.57 Est. Cost/Share $51.20 Unrealized @ Report Date +47.6%

ITGR Integer Holdings Corporation 0.5%

Value $34.71M (+5.1%) Shares 274,743 (-22.3%) Share Price $126.35 Est. Cost/Share $85.79 Unrealized @ Report Date +47.3%

STT State Street 0.0%

Value $906K (-26.8%) Shares 5,191 (-28.9%) Share Price $174.59 Est. Cost/Share $59.91 Unrealized @ Report Date +191.4%

GOOGL Alphabet Inc CL A 0.0%

Value $769K (-6.4%) Shares 2,236 (-2.8%) Share Price $344.08 Est. Cost/Share $99.47 Unrealized @ Report Date +245.9%

JPM JP Morgan Chase 0.0%

Value $587K (-4.2%) Shares 1,775 (-5.2%) Share Price $330.83 Est. Cost/Share $77.36 Unrealized @ Report Date +327.6%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
GIL	Gildan Activewear	5,200,323 (-20.3%)	$222M (-34.1%)	3.5%	$42.63	$26.00	+64.0%	COM	375916103
RBA	RB Global Inc	2,431,967 (-1.9%)	$198M (-31.5%)	3.1%	$81.39	$58.16	+39.9%	COM	74935Q107
FNF	Fidelity National Financial In	3,543,952 (-25.7%)	$137M (-39.1%)	2.2%	$38.65	$32.19	+20.1%	COM	31620R303
CCI	Crown Castle Inc	2,060,322 (-24.5%)	$137M (-33.5%)	2.2%	$66.65	$91.89	—	COM	22822V101
PPG	PPG Industries	1,231,884 (-22.6%)	$129M (-33.4%)	2.0%	$104.33	$114.23	-8.7%	COM	693506107
WAT	Waters Corp	36,335 (-82.7%)	$15.97M (-79.7%)	0.3%	$439.39	$342.06	+28.5%	COM	941848103
RNR	RenaissanceRe	578,315 (-25.5%)	$184M (-25.2%)	2.9%	$318.23	$207.01	+53.7%	COM	G7496G103
UNH	UnitedHealth Group	213,174 (-35.9%)	$78.25M (-43.4%)	1.2%	$367.08	$455.38	-19.4%	COM	91324P102
BN	Brookfield Corp	2,496,727 (-28.2%)	$91.03M (-38.5%)	1.4%	$36.46	$29.96	+21.7%	COM	11271J107
WWD	Woodward	241,568 (-23.8%)	$79.38M (-41.2%)	1.2%	$328.59	$109.60	+199.8%	COM	980745103
ACGL	Arch Capital Group	1,831,651 (-17.5%)	$169M (-21.5%)	2.7%	$92.36	$89.88	+2.8%	COM	G0450A105
FISV	Fiserv Inc	2,237,022 (-24.8%)	$101M (-30.7%)	1.6%	$45.18	$86.56	-47.8%	COM	337738108
CB	Chubb Limited	222,836 (-35.2%)	$72.48M (-38.1%)	1.1%	$325.25	$183.00	+77.7%	COM	H1467J104
SUNB	Sunbelt Rentals Holdings Inc	2,094,665 (-21.1%)	$153M (-22.4%)	2.4%	$73.21	$70.19	+4.3%	COM	866966104
OMC	Omnicom Group	1,642,016 (-27.5%)	$121M (-26.7%)	1.9%	$73.63	$62.83	+17.2%	COM	681919106
CRL	Charles River Laboratories	432,121 (-42.8%)	$127M (-25.6%)	2.0%	$295.01	$183.26	+61.0%	COM	159864107
CSL	Carlisle Companies Incorporate	231,937 (-28.9%)	$74.72M (-36.8%)	1.2%	$322.17	$354.41	-9.1%	COM	142339100
DIS	The Walt Disney Company	976,217 (-35.5%)	$102M (-29.7%)	1.6%	$104.90	$106.45	-1.5%	COM	254687106
BAC	Bank of America	1,148,262 (-37.6%)	$62.5M (-40.4%)	1.0%	$54.43	$36.16	+50.5%	COM	060505104
VVV	Valvoline Inc	3,156,308 (-9.1%)	$95.13M (-30.7%)	1.5%	$30.14	$34.64	-13.0%	COM	92047W101
ARMK	Aramark	1,690,085 (-27.4%)	$90.5M (-31.7%)	1.4%	$53.55	$38.18	+40.2%	COM	03852U106
AER	AerCap Holdings N.V.	651,665 (-29.8%)	$93.53M (-30.9%)	1.5%	$143.52	$49.43	+190.3%	COM	N00985106
NXPI	NXP Semiconductors N.V.	118,611 (-50.6%)	$28.17M (-58.2%)	0.4%	$237.53	$212.32	+11.9%	COM	N6596X109
CBRE	CBRE Group Inc. Cl A	737,916 (-25.7%)	$94.8M (-29.2%)	1.5%	$128.47	$106.95	+20.1%	COM	12504L109
KHC	The Kraft Heinz Company	2,197,947 (-40.7%)	$49.94M (-43.0%)	0.8%	$22.72	$31.23	-27.2%	COM	500754106
ADP	Automatic Data Processing Inc.	140,819 (-57.2%)	$36.34M (-50.7%)	0.6%	$258.06	$228.14	+13.1%	COM	053015103
LH	Labcorp Holdings	490,641 (-26.7%)	$151M (-19.3%)	2.4%	$308.11	$199.75	+54.2%	COM	504922105
LKQ	LKQ Corp	2,617,610 (-28.2%)	$59.76M (-37.7%)	0.9%	$22.83	$43.72	-47.8%	COM	501889208
LAD	Lithia Motors Inc	182,353 (-40.5%)	$53.22M (-40.2%)	0.8%	$291.83	$297.04	-1.8%	COM	536797103
C	Citigroup	188,156 (-56.1%)	$24.36M (-59.4%)	0.4%	$129.48	$66.43	+94.9%	COM	172967424
VZ	Verizon Communications	1,018,273 (-46.7%)	$46.71M (-42.2%)	0.7%	$45.87	$37.97	+20.8%	COM	92343V104
WMG	Warner Music Group Corp Cl A	3,306,697 (-28.4%)	$91.3M (-27.0%)	1.4%	$27.61	$27.28	+1.2%	COM	934550203
UL	Unilever PLC ADR	673,584 (-45.3%)	$40.91M (-44.7%)	0.6%	$60.73	$63.28	-4.0%	ADR	904767803
AVY	Avery Dennison Corp Com	503,132 (-30.1%)	$85.87M (-26.5%)	1.4%	$170.67	$169.92	+0.4%	COM	053611109
COP	ConocoPhillips	774,526 (-36.6%)	$96.93M (-23.6%)	1.5%	$125.15	$98.81	+26.7%	COM	20825C104
BAM	Brookfield Asset Management -	2,417,157 (-21.1%)	$108M (-21.6%)	1.7%	$44.58	$43.13	+3.4%	COM	113004105
XRAY	Dentsply Sirona Inc	5,089,385 (-26.5%)	$45.09M (-38.7%)	0.7%	$8.86	$39.60	-77.6%	COM	24906P109
GBCI	Glacier Bancorp Inc	2,090,366 (-8.8%)	$90.3M (-23.6%)	1.4%	$43.20	$35.71	+21.0%	COM	37637Q105
SCHW	Charles Schwab Corporation	372,462 (-45.7%)	$36.4M (-42.5%)	0.6%	$97.74	$53.27	+83.5%	COM	808513105
ALLE	Allegion PLC	678,670 (-25.8%)	$104M (-18.8%)	1.6%	$153.77	$139.33	+10.4%	COM	G0176J109
INGR	Ingredion Incorporated	785,849 (-24.2%)	$75.29M (-23.4%)	1.2%	$95.81	$102.09	-6.2%	COM	457187102
EOG	EOG Resources Inc	465,218 (-30.0%)	$64.09M (-25.6%)	1.0%	$137.76	$105.80	+30.2%	COM	26875P101
MDT	Medtronic PLC	477,037 (-40.3%)	$41.16M (-34.2%)	0.6%	$86.29	$86.32	-0.0%	COM	G5960L103
AJG	Arthur J. Gallagher & Co.	506,205 (-14.7%)	$115M (-15.3%)	1.8%	$228.11	$227.41	+0.3%	COM	363576109
ESNT	Essent Group Ltd	1,487,879 (-9.8%)	$86.16M (-18.8%)	1.4%	$57.91	$48.24	+20.0%	COM	G3198U102
RHP	Ryman Hospitality Properties	966,928 (-8.0%)	$116M (-14.5%)	1.8%	$119.53	$98.56	—	COM	78377T107
BDX	Becton Dickinson and Company	854,452 (-24.8%)	$153M (-11.1%)	2.4%	$179.00	$213.61	-16.2%	COM	075887109
PGR	Progressive Corporation	150,023 (-34.2%)	$31.1M (-37.6%)	0.5%	$207.31	$206.34	+0.5%	COM	743315103
HAS	Hasbro	898,957 (-23.4%)	$78.82M (-18.7%)	1.2%	$87.68	$61.96	+41.5%	COM	418056107
DFH	Dream Finders Homes Inc - A	1,518,544 (-18.8%)	$16.25M (-49.7%)	0.3%	$10.70	$23.19	-53.9%	COM	26154D100
TFX	Teleflex Incorporated	900,561 (-11.0%)	$113M (-12.2%)	1.8%	$125.04	$208.31	-40.0%	COM	879369106
HCA	HCA Healthcare Inc.	52,882 (-45.0%)	$22.57M (-39.9%)	0.4%	$426.74	$235.23	+81.4%	COM	40412C101
COLB	Columbia Banking System	1,214,867 (-19.1%)	$34.75M (-27.8%)	0.5%	$28.60	$23.46	+21.9%	COM	197236102
TKR	The Timken Company	308,070 (-8.8%)	$35.97M (-26.7%)	0.6%	$116.75	$71.66	+62.9%	COM	887389104
MBC	MasterBrand Inc.	1,898,489 (-25.6%)	$13.29M (-49.4%)	0.2%	$7.00	$11.51	-39.2%	COM	57638P104
IPAR	Inter Parfums Inc.	119,580 (-48.9%)	$13.27M (-49.3%)	0.2%	$110.96	$94.34	+17.6%	COM	458334109
WGO	Winnebago	1,037,909 (-18.7%)	$27.37M (-31.4%)	0.4%	$26.37	$46.60	-43.4%	COM	974637100
BV	BrightView Holdings Inc	2,310,933 (-7.9%)	$23.11M (-35.0%)	0.4%	$10.00	$13.50	-25.9%	COM	10948C107
JNJ	Johnson & Johnson	80,499 (-39.0%)	$21.31M (-36.4%)	0.3%	$264.74	$110.06	+140.5%	COM	478160104
JBI	Janus International Group	4,010,765 (-21.4%)	$16.4M (-42.0%)	0.3%	$4.09	$11.82	-65.4%	COM	47103N106
MKL	Markel Group	25,877 (-9.7%)	$44.31M (-20.9%)	0.7%	$1712.45	$1481.01	+15.6%	COM	570535104
OXY	Occidental Petroleum	1,764,179 (-20.5%)	$97.59M (-9.5%)	1.5%	$55.32	$55.29	+0.0%	COM	674599105
MBUU	Malibu Boats Inc - A	950,881 (-13.9%)	$21.79M (-28.0%)	0.3%	$22.92	$47.94	-52.2%	COM	56117J100
MTB	M&T Bank Corporation	295,000 (-1.5%)	$64.19M (-9.9%)	1.0%	$217.60	$155.65	+39.8%	COM	55261F104
STC	Stewart Information Services	349,448 (-5.6%)	$17.37M (-28.9%)	0.3%	$49.71	$51.25	-3.0%	COM	860372101
VREX	Varex Imaging Corporation	944,511 (-5.5%)	$17.43M (+67.2%)	0.3%	$18.45	$23.46	-21.4%	COM	92214X106
TTEK	Tetra Tech Inc	1,353,243 (-24.2%)	$44.59M (-13.6%)	0.7%	$32.95	$29.35	+12.3%	COM	88162G103
CNMD	CONMED Corporation	541,608 (-5.6%)	$25.04M (+33.4%)	0.4%	$46.23	$69.43	-33.4%	COM	207410101
MSA	MSA Safety	678,102 (-6.5%)	$121M (-4.7%)	1.9%	$177.88	$175.69	+1.2%	COM	553498106
BUR	Burford Capital Limited	2,880,725 (-23.8%)	$11.29M (-27.2%)	0.2%	$3.92	$12.34	-68.2%	COM	G17977110
HNI	HNI Corporation	624,881 (-21.8%)	$28.32M (-12.3%)	0.4%	$45.32	$45.94	-1.4%	COM	404251100
CBSH	Commerce Bancshares	558,940 (-5.5%)	$30.6M (-10.4%)	0.5%	$54.74	$43.71	+25.2%	COM	200525103
PRGO	Perrigo Co PLC	1,037,041 (-12.8%)	$15.31M (+23.9%)	0.2%	$14.76	$41.51	-64.4%	COM	G97822103
WSFS	WSFS Financial	313,020 (-5.2%)	$23.65M (-6.7%)	0.4%	$75.57	$51.20	+47.6%	COM	929328102
ITGR	Integer Holdings Corporation	274,743 (-22.3%)	$34.71M (+5.1%)	0.5%	$126.35	$85.79	+47.3%	COM	45826H109
STT	State Street	5,191 (-28.9%)	$906K (-26.8%)	0.0%	$174.59	$59.91	+191.4%	COM	857477103
GOOGL	Alphabet Inc CL A	2,236 (-2.8%)	$769K (-6.4%)	0.0%	$344.08	$99.47	+245.9%	COM	02079K305
JPM	JP Morgan Chase	1,775 (-5.2%)	$587K (-4.2%)	0.0%	$330.83	$77.36	+327.6%	COM	46625H100

Unchanged Positions (7)

TGLS Tecnoglass Holdings Inc 0.3%

Value $19.54M Shares 550,039 Share Price $35.52 Est. Cost/Share $46.81 Unrealized @ Report Date —

TJX TJX COS INC NEW COM 0.0%

Value $331K Shares 2,500 Share Price $132.31 Est. Cost/Share $76.14 Unrealized @ Report Date +73.8%

ATO Atmos Energy 0.0%

Value $431K Shares 2,752 Share Price $156.44 Est. Cost/Share $96.55 Unrealized @ Report Date +62.0%

TEL TE Connectivity 0.0%

Value $882K Shares 4,180 Share Price $211.08 Est. Cost/Share $146.90 Unrealized @ Report Date +43.7%

PM Philip Morris Int'l 0.0%

Value $522K Shares 2,733 Share Price $190.82 Est. Cost/Share $77.89 Unrealized @ Report Date +145.0%

GOOG Alphabet Inc CL C 0.0%

Value $545K Shares 1,600 Share Price $340.74 Est. Cost/Share $129.05 Unrealized @ Report Date +164.0%

BRK/B Berkshire Hathaway Cl B 0.0%

Value $1.14M Shares 2,290 Share Price $497.95 Est. Cost/Share $217.21 Unrealized @ Report Date +129.2%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
TGLS	Tecnoglass Holdings Inc	550,039	$19.54M	0.3%	$35.52	$46.81	—	COM	87877F103
TJX	TJX COS INC NEW COM	2,500	$331K	0.0%	$132.31	$76.14	+73.8%	COM	872540109
ATO	Atmos Energy	2,752	$431K	0.0%	$156.44	$96.55	+62.0%	COM	049560105
TEL	TE Connectivity	4,180	$882K	0.0%	$211.08	$146.90	+43.7%	COM	G87052109
PM	Philip Morris Int'l	2,733	$522K	0.0%	$190.82	$77.89	+145.0%	COM	718172109
GOOG	Alphabet Inc CL C	1,600	$545K	0.0%	$340.74	$129.05	+164.0%	COM	02079K107
BRK/B	Berkshire Hathaway Cl B	2,290	$1.14M	0.0%	$497.95	$217.21	+129.2%	COM	084670702