Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	Berkshire Hath. Cl B	3,037,017	$647M	5.3%	$124.90	+63.8%	COM	084670702
—	Booking Holdings Inc	305,072	$522M	4.3%	$1688.65	—	COM	09857l108
MAS	Masco Corp	9,190,112	$507M	4.2%	$31.48	+62.1%	COM	574599106
DG	Dollar General Corp	2,379,216	$499M	4.1%	$66.68	+173.1%	COM	256677105
DGX	Quest Diagnostics	3,907,349	$447M	3.7%	$89.18	+19.5%	COM	74834L100
CB	Chubb Corp	3,647,367	$424M	3.5%	$121.29	-4.5%	COM	H1467J104
—	Unilever PLC ADR	6,425,680	$396M	3.3%	$49.18	—	COM	904767704
—	Comcast Corp.	8,155,239	$377M	3.1%	$40.07	—	COM	20030n101
UNH	UnitedHealth Group	1,181,965	$369M	3.0%	$72.33	+288.8%	COM	91324P102
DLTR	Dollar Tree	4,031,639	$368M	3.0%	$90.72	+3.7%	COM	256746108
—	HD Supply Holdings	8,623,528	$356M	2.9%	$39.92	—	COM	40416M105
SONY	Sony Corp ADR	4,628,998	$355M	2.9%	$69.13	—	COM	835699307
EXPD	Expeditors Int'l.	3,544,294	$321M	2.6%	$37.42	+113.7%	COM	302130109
PHG	Koninklijke Philips NV	6,737,164	$318M	2.6%	$40.76	—	COM	500472303
HON	Honeywell Int'l. Inc.	1,908,155	$314M	2.6%	$74.99	+77.7%	COM	438516106
ETN	Eaton Corp	3,012,979	$307M	2.5%	$80.88	+10.3%	COM	G29183103
TJX	TJX Companies Inc.	5,385,384	$300M	2.5%	$37.57	+33.2%	COM	872540109
PCAR	Paccar Inc.	3,432,151	$293M	2.4%	$24.22	+89.8%	COM	693718108
—	Accenture Plc.	1,274,360	$288M	2.4%	$76.86	—	COM	g1151c101
NSRGY	Nestle SA ADR	2,305,496	$275M	2.3%	$75.34	—	COM	641069406
PEP	PepsiCo Inc.	1,960,661	$272M	2.2%	$82.76	+39.2%	COM	713448108
PPG	PPG Industries Inc	2,224,298	$272M	2.2%	$91.69	+14.8%	COM	693506107
JPM	JPMorgan Chase	2,802,947	$270M	2.2%	$89.26	-4.3%	COM	46625H100
SCHW	Charles Schwab Corp	7,424,974	$269M	2.2%	$38.19	-15.2%	COM	808513105
PGR	Progressive Corp.	2,703,421	$256M	2.1%	$66.35	+15.3%	COM	743315103
NTRS	Northern Trust Corp	3,137,088	$245M	2.0%	$76.30	-10.9%	COM	665859104
SNN	Smith & Nephew PLC	5,899,114	$231M	1.9%	$38.18	—	COM	83175M205
OMC	Omnicom Group	4,293,919	$213M	1.8%	$51.79	-15.0%	COM	681919106
SLB	Schlumberger Ltd.	10,249,277	$159M	1.3%	$47.28	-65.0%	COM	806857108
AVY	Avery Dennison Corp.	1,167,912	$149M	1.2%	$67.86	+58.8%	COM	053611109
EMR	Emerson Electric Co.	1,810,851	$119M	1.0%	$57.76	+1.8%	COM	291011104
G	Genpact Ltd.	3,008,997	$117M	1.0%	$28.60	+28.9%	COM	G3922B107
CSL	Carlisle Cos. Inc.	886,948	$109M	0.9%	$82.84	+39.1%	COM	142339100
—	FirstCash Inc.	1,727,106	$98.81M	0.8%	$77.16	—	COM	33767D105
RHI	Robert Half Int'l. Inc.	1,682,109	$89.05M	0.7%	$52.24	+1.9%	COM	770323103
ARW	Arrow Electronics Inc.	1,072,454	$84.36M	0.7%	$57.23	+29.1%	COM	042735100
HLI	Houlihan Lokey Inc.	1,368,439	$80.81M	0.7%	$45.54	+13.7%	COM	441593100
TRS	TriMas Corp.	3,119,141	$71.12M	0.6%	$22.55	+8.0%	COM	896215209
—	Interpublic Group	4,091,701	$68.21M	0.6%	$13.42	+8.2%	COM	460690100
WRB	W.R. Berkley Corp.	1,092,251	$66.79M	0.6%	$15.78	+53.7%	COM	084423102
AOS	A.O. Smith Corp.	1,248,040	$65.9M	0.5%	$38.29	+18.4%	COM	831865209
ZION	Zions Bancorporation	2,178,899	$63.67M	0.5%	$38.92	-17.2%	COM	989701107
R	Ryder System Inc.	1,413,938	$59.73M	0.5%	$58.85	-31.3%	COM	783549108
KW	Kennedy-Wilson Hld.	4,079,551	$59.23M	0.5%	$19.93	-25.4%	COM	489398107
XRAY	Dentsply Sirona Inc.	1,331,026	$58.21M	0.5%	$49.93	-11.4%	COM	24906P109
TIGO	Millicom International	1,900,000	$57.53M	0.5%	$61.15	-52.8%	COM	L6388F110
GHC	Graham Holdings Co.	142,111	$57.43M	0.5%	$463.71	-18.1%	COM	384637104
TRN	Trinity Industries	2,886,210	$56.28M	0.5%	$17.70	-6.8%	COM	896522109
FCN	FTI Consulting Inc	517,156	$54.8M	0.5%	$113.65	0.0%	COM	302941109
DCI	Donaldson Co. Inc.	1,176,243	$54.6M	0.5%	$43.60	+2.4%	COM	257651109
PAG	Penske Automotive	1,129,492	$53.83M	0.4%	$47.12	-1.5%	COM	70959W103
WTM	White Mountains Ins.	63,431	$49.41M	0.4%	$881.73	-1.9%	COM	G9618E107
WWD	Woodward Inc.	607,744	$48.72M	0.4%	$46.49	+67.2%	COM	980745103
NSIT	Insight Enterprises Inc.	839,637	$47.51M	0.4%	$56.21	-4.6%	COM	45765U103
HSIC	Henry Schein Inc.	795,967	$46.79M	0.4%	$61.54	+4.2%	COM	806407102
—	Howard Hughes Corp.	782,960	$45.1M	0.4%	$107.27	—	COM	44267D107
PLXS	Plexus Corp	620,838	$43.85M	0.4%	$66.42	+10.4%	COM	729132100
—	Armstrong World Ind.	585,358	$40.28M	0.3%	$50.97	—	COM	04247x102
MAN	Manpowergroup Inc.	509,021	$37.33M	0.3%	$84.99	-15.5%	COM	56418H100
—	Applied Ind. Tech.	624,824	$34.43M	0.3%	$45.72	—	COM	03820c105
—	Flowserve Corp	1,222,005	$33.35M	0.3%	$25.39	—	COM	34354p105
NPO	EnPro Industries, Inc.	565,736	$31.91M	0.3%	$72.23	-25.3%	COM	29355X107
TV	Grupo Televisa SA	4,677,900	$28.91M	0.2%	$14.88	—	COM	40049J206
MSM	MSC Industrial Direct	356,711	$22.57M	0.2%	$78.31	-15.3%	COM	553530106
—	Primerica Inc.	185,464	$20.98M	0.2%	$113.14	—	COM	74164m108
HII	Huntington Ingalls	139,472	$19.63M	0.2%	$160.20	-11.3%	COM	446413106
PAHC	Phibro Animal Health	872,451	$15.18M	0.1%	$29.43	-27.5%	COM	71742Q106
IVV	iShares S&P 500	860	$289K	0.0%	$311.73	—	COM	464287200