Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	Berkshire Hath. Cl B	3,174,628	$567M	4.8%	$124.90	+46.2%	COM	084670702
—	Booking Holdings Inc	325,724	$519M	4.4%	$1688.65	—	COM	09857l108
CB	Chubb Corp	3,845,739	$487M	4.1%	$121.29	-12.4%	COM	H1467J104
MAS	Masco Corp	9,649,850	$485M	4.1%	$31.48	+25.1%	COM	574599106
DG	Dollar General Corp	2,484,607	$473M	4.0%	$66.68	+150.7%	COM	256677105
DGX	Quest Diagnostics	4,100,941	$467M	3.9%	$89.18	+6.7%	COM	74834L100
—	Unilever PLC ADR	6,726,294	$369M	3.1%	$49.18	—	COM	904767704
UNH	UnitedHealth Group	1,232,831	$364M	3.1%	$72.33	+261.0%	COM	91324P102
—	Accenture Plc.	1,599,360	$343M	2.9%	$76.86	—	COM	g1151c101
DLTR	Dollar Tree	3,698,449	$343M	2.9%	$90.41	-7.7%	COM	256746108
SONY	Sony Corp ADR	4,819,686	$333M	2.8%	$69.13	—	COM	835699307
—	Comcast Corp.	8,495,040	$331M	2.8%	$40.07	—	COM	20030n101
PHG	Koninklijke Philips NV	6,973,070	$327M	2.7%	$40.76	—	COM	500472303
—	HD Supply Holdings	9,078,707	$315M	2.6%	$39.92	—	COM	40416M105
HON	Honeywell Int'l. Inc.	2,001,637	$289M	2.4%	$74.99	+57.2%	COM	438516106
EXPD	Expeditors Int'l.	3,766,683	$286M	2.4%	$37.42	+82.5%	COM	302130109
TJX	TJX Companies Inc.	5,648,493	$286M	2.4%	$37.57	+24.1%	COM	872540109
JPM	JPMorgan Chase	2,961,038	$279M	2.3%	$89.26	-8.4%	COM	46625H100
ETN	Eaton Corp	3,164,203	$277M	2.3%	$80.88	-7.6%	COM	G29183103
PEP	PepsiCo Inc.	2,035,063	$269M	2.3%	$82.76	+33.9%	COM	713448108
PCAR	Paccar Inc.	3,576,336	$268M	2.2%	$24.22	+57.5%	COM	693718108
NSRGY	Nestle SA ADR	2,398,282	$265M	2.2%	$75.34	—	COM	641069406
SCHW	Charles Schwab Corp	7,762,429	$262M	2.2%	$38.19	-13.1%	COM	808513105
NTRS	Northern Trust Corp	3,287,218	$261M	2.2%	$76.30	-12.7%	COM	665859104
PPG	PPG Industries Inc	2,336,786	$248M	2.1%	$91.69	-5.8%	COM	693506107
OMC	Omnicom Group	4,509,435	$246M	2.1%	$51.79	-14.5%	COM	681919106
SNN	Smith & Nephew PLC	6,191,395	$236M	2.0%	$38.18	—	COM	83175M205
PGR	Progressive Corp.	2,757,267	$221M	1.9%	$66.35	0.0%	COM	743315103
SLB	Schlumberger Ltd.	10,953,233	$201M	1.7%	$47.28	-67.3%	COM	806857108
AVY	Avery Dennison Corp.	1,257,814	$144M	1.2%	$67.86	+47.1%	COM	053611109
G	Genpact Ltd.	3,497,499	$128M	1.1%	$28.60	+10.2%	COM	G3922B107
EMR	Emerson Electric Co.	1,849,694	$115M	1.0%	$57.76	-13.0%	COM	291011104
CSL	Carlisle Cos. Inc.	934,850	$112M	0.9%	$82.84	+35.7%	COM	142339100
—	FirstCash Inc.	1,490,014	$101M	0.8%	$80.33	—	COM	33767D105
RHI	Robert Half Int'l. Inc.	1,786,091	$94.36M	0.8%	$52.24	-9.1%	COM	770323103
WTM	White Mountains Ins.	102,811	$91.29M	0.8%	$881.73	+2.2%	COM	G9618E107
TRS	TriMas Corp.	3,313,773	$79.36M	0.7%	$22.55	+1.9%	COM	896215209
ZION	Zions Bancorporation	2,324,372	$79.03M	0.7%	$38.92	-18.6%	COM	989701107
ARW	Arrow Electronics Inc.	1,147,852	$78.85M	0.7%	$57.23	+10.4%	COM	042735100
—	Interpublic Group	4,403,578	$75.56M	0.6%	$13.42	-1.4%	COM	460690100
WRB	W.R. Berkley Corp.	1,170,000	$67.03M	0.6%	$15.78	+37.2%	COM	084423102
KW	Kennedy-Wilson Hld.	4,359,889	$66.36M	0.6%	$19.93	-27.8%	COM	489398107
TRN	Trinity Industries	3,091,591	$65.82M	0.6%	$17.70	-12.6%	COM	896522109
AOS	A.O. Smith Corp.	1,327,225	$62.54M	0.5%	$38.29	+3.1%	COM	831865209
XRAY	Dentsply Sirona Inc.	1,392,030	$61.33M	0.5%	$49.93	-15.3%	COM	24906P109
HLI	Houlihan Lokey Inc.	1,061,331	$59.05M	0.5%	$43.74	+19.7%	COM	441593100
DCI	Donaldson Co. Inc.	1,236,517	$57.52M	0.5%	$43.60	-7.4%	COM	257651109
R	Ryder System Inc.	1,527,319	$57.29M	0.5%	$58.85	-43.6%	COM	783549108
GHC	Graham Holdings Co.	152,406	$52.23M	0.4%	$463.71	-28.5%	COM	384637104
TIGO	Millicom International	1,995,475	$52.18M	0.4%	$61.15	-57.6%	COM	L6388F110
WWD	Woodward Inc.	646,300	$50.12M	0.4%	$46.49	+35.7%	COM	980745103
HSIC	Henry Schein Inc.	838,458	$48.96M	0.4%	$61.54	-9.2%	COM	806407102
—	Armstrong World Ind.	611,879	$47.7M	0.4%	$50.97	—	COM	04247x102
PAG	Penske Automotive	1,218,267	$47.16M	0.4%	$47.12	-26.0%	COM	70959W103
—	Howard Hughes Corp.	828,574	$43.04M	0.4%	$107.27	—	COM	44267D107
MSM	MSC Industrial Direct	586,777	$42.72M	0.4%	$78.31	-17.7%	COM	553530106
—	Applied Ind. Tech.	667,071	$41.62M	0.3%	$45.72	—	COM	03820c105
MAN	Manpowergroup Inc.	542,289	$37.28M	0.3%	$84.99	-19.7%	COM	56418H100
—	Flowserve Corp	1,279,632	$36.49M	0.3%	$25.39	—	COM	34354p105
NSIT	Insight Enterprises Inc.	716,804	$35.27M	0.3%	$56.65	-13.1%	COM	45765U103
TV	Grupo Televisa SA	6,717,425	$35.2M	0.3%	$14.88	—	COM	40049J206
NPO	EnPro Industries, Inc.	622,360	$30.68M	0.3%	$72.23	-38.8%	COM	29355X107
VMI	Valmont Industries	262,494	$29.82M	0.3%	$140.95	-21.2%	COM	920253101
PLXS	Plexus Corp	380,995	$26.88M	0.2%	$62.07	0.0%	COM	729132100
PAHC	Phibro Animal Health	895,288	$23.52M	0.2%	$29.43	-15.6%	COM	71742Q106
HII	Huntington Ingalls	119,502	$20.85M	0.2%	$163.22	0.0%	COM	446413106
IVV	iShares S&P 500	1,675	$519K	0.0%	$311.73	—	COM	464287200
IWV	iShares TR Russell 3000	2,475	$446K	0.0%	$180.20	—	COM	464287689
—	TE Connectivity Ltd.	2,758	$225K	0.0%	$56.56	—	COM	H84989104