Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	Berkshire Hath. Cl B	2,827,270	$656M	5.0%	$124.90	+76.3%	COM	084670702
—	Booking Holdings Inc	243,807	$543M	4.1%	$1688.65	—	COM	09857l108
MAS	Masco Corp	9,505,645	$522M	4.0%	$32.10	+56.7%	COM	574599106
CB	Chubb Corp	3,304,125	$509M	3.9%	$121.29	+7.2%	COM	H1467J104
—	Comcast Corp.	9,236,666	$484M	3.7%	$41.51	—	COM	20030n101
DG	Dollar General Corp	2,185,275	$460M	3.5%	$66.68	+197.0%	COM	256677105
SONY	Sony Corp ADR	4,521,043	$457M	3.5%	$69.13	—	COM	835699307
DLTR	Dollar Tree	4,011,281	$433M	3.3%	$90.72	+10.7%	COM	256746108
DGX	Quest Diagnostics	3,634,203	$433M	3.3%	$89.18	+23.9%	COM	74834L100
UNH	UnitedHealth Group	1,096,587	$385M	2.9%	$72.33	+326.1%	COM	91324P102
SCHW	Charles Schwab Corp	6,934,616	$368M	2.8%	$38.19	+10.9%	COM	808513105
—	Unilever PLC ADR	6,002,694	$362M	2.7%	$49.18	—	COM	904767704
PHG	Koninklijke Philips NV	6,649,279	$360M	2.7%	$40.76	—	COM	500472303
HON	Honeywell Int'l. Inc.	1,643,204	$350M	2.6%	$74.99	+118.3%	COM	438516106
JPM	JPMorgan Chase	2,700,361	$343M	2.6%	$89.26	+9.9%	COM	46625H100
TJX	TJX Companies Inc.	4,981,906	$340M	2.6%	$37.57	+50.3%	COM	872540109
ETN	Eaton Corp	2,810,649	$338M	2.6%	$80.88	+28.4%	COM	G29183103
PPG	PPG Industries Inc	2,079,606	$300M	2.3%	$91.69	+37.4%	COM	693506107
PCAR	Paccar Inc.	3,184,986	$275M	2.1%	$24.22	+99.6%	COM	693718108
NTRS	Northern Trust Corp	2,941,078	$274M	2.1%	$76.30	-1.3%	COM	665859104
MU	Micron Technology Inc	3,443,939	$259M	2.0%	$58.84	0.0%	COM	595112103
SNN	Smith & Nephew PLC	6,098,296	$257M	1.9%	$38.31	—	COM	83175M205
—	Accenture Plc.	963,099	$252M	1.9%	$76.86	—	COM	g1151c101
PGR	Progressive Corp.	2,498,360	$247M	1.9%	$66.35	+21.5%	COM	743315103
OMC	Omnicom Group	3,915,241	$244M	1.8%	$51.79	-8.1%	COM	681919106
EXPD	Expeditors Int'l.	2,564,431	$244M	1.8%	$37.42	+129.0%	COM	302130109
PEP	PepsiCo Inc.	1,560,952	$231M	1.8%	$82.76	+46.5%	COM	713448108
NSRGY	Nestle SA ADR	1,772,977	$209M	1.6%	$75.34	—	COM	641069406
SLB	Schlumberger Ltd.	9,088,371	$198M	1.5%	$47.28	-64.3%	COM	806857108
AVY	Avery Dennison Corp.	986,150	$153M	1.2%	$67.86	+95.7%	COM	053611109
CSL	Carlisle Cos. Inc.	893,286	$140M	1.1%	$82.84	+59.9%	COM	142339100
EMR	Emerson Electric Co.	1,672,666	$134M	1.0%	$57.76	+15.7%	COM	291011104
—	FirstCash Inc.	1,855,947	$130M	1.0%	$76.66	—	COM	33767D105
G	Genpact Ltd.	3,077,740	$127M	1.0%	$28.79	+28.7%	COM	G3922B107
RHI	Robert Half Int'l. Inc.	1,739,927	$109M	0.8%	$52.48	+13.7%	COM	770323103
ARW	Arrow Electronics Inc.	1,069,410	$104M	0.8%	$57.23	+54.6%	COM	042735100
TRS	TriMas Corp.	3,177,614	$101M	0.8%	$22.64	+20.9%	COM	896215209
—	Interpublic Group	4,150,752	$97.63M	0.7%	$13.47	+28.4%	COM	460690100
HLI	Houlihan Lokey Inc.	1,446,176	$97.23M	0.7%	$46.26	+27.3%	COM	441593100
ZION	Zions Bancorporation	2,109,965	$91.66M	0.7%	$38.92	-5.0%	COM	989701107
R	Ryder System Inc.	1,422,353	$87.84M	0.7%	$58.85	-5.4%	COM	783549108
TRN	Trinity Industries	2,980,875	$78.67M	0.6%	$17.73	+4.1%	COM	896522109
WRB	W.R. Berkley Corp.	1,124,806	$74.71M	0.6%	$16.06	+59.1%	COM	084423102
GHC	Graham Holdings Co.	138,890	$74.08M	0.6%	$463.71	-9.2%	COM	384637104
XRAY	Dentsply Sirona Inc.	1,366,074	$71.53M	0.5%	$49.92	-1.2%	COM	24906P109
KW	Kennedy-Wilson Hld.	3,965,434	$70.94M	0.5%	$19.93	-21.5%	COM	489398107
TIGO	Millicom International	1,766,500	$68.5M	0.5%	$61.15	-42.4%	COM	L6388F110
DCI	Donaldson Co. Inc.	1,225,816	$68.5M	0.5%	$43.81	+11.0%	COM	257651109
NSIT	Insight Enterprises Inc.	887,697	$67.55M	0.5%	$56.82	+18.6%	COM	45765U103
HSIC	Henry Schein Inc.	992,516	$66.36M	0.5%	$62.13	+3.9%	COM	806407102
FCN	FTI Consulting Inc	574,486	$64.18M	0.5%	$113.05	-4.8%	COM	302941109
—	Flowserve Corp	1,728,743	$63.7M	0.5%	$28.75	—	COM	34354p105
—	CDK Global	1,160,536	$60.15M	0.5%	$51.83	—	COM	12508E101
—	Howard Hughes Corp.	755,756	$59.65M	0.5%	$107.27	—	COM	44267D107
WWD	Woodward Inc.	485,458	$59M	0.4%	$46.49	+111.2%	COM	980745103
—	Applied Ind. Tech.	734,162	$57.26M	0.4%	$50.53	—	COM	03820c105
PLXS	Plexus Corp	697,860	$54.58M	0.4%	$67.32	+10.8%	COM	729132100
NVT	nVent Electric PLC	2,156,342	$50.22M	0.4%	$19.34	0.0%	COM	G6700G107
MAN	Manpowergroup Inc.	499,633	$45.06M	0.3%	$84.99	-3.3%	COM	56418H100
—	Primerica Inc.	314,376	$42.1M	0.3%	$121.66	—	COM	74164m108
—	Armstrong World Ind.	564,313	$41.98M	0.3%	$50.97	—	COM	04247x102
NPO	EnPro Industries, Inc.	550,390	$41.56M	0.3%	$72.23	-7.1%	COM	29355X107
WTM	White Mountains Ins.	41,118	$41.15M	0.3%	$881.73	+6.7%	COM	G9618E107
TV	Grupo Televisa SA	4,109,400	$33.86M	0.3%	$14.88	—	COM	40049J206
HII	Huntington Ingalls	193,353	$32.96M	0.2%	$154.96	-8.8%	COM	446413106
AOS	A.O. Smith Corp.	553,347	$30.33M	0.2%	$38.29	+31.4%	COM	831865209
BRC	Brady Corp Cl A	526,577	$27.81M	0.2%	$40.57	0.0%	COM	104674106
PAG	Penske Automotive	468,244	$27.81M	0.2%	$47.12	+19.6%	COM	70959W103
PAHC	Phibro Animal Health	950,264	$18.45M	0.1%	$28.53	-35.5%	COM	71742Q106
IVE	iShares S&P 500 Value ETF	47,231	$6.047M	0.0%	$128.03	—	COM	464287408
IJS	iShares S&P 600 Val.	6,783	$552K	0.0%	$81.38	—	COM	464287879
VONV	Vanguard Russell 1000 Value	4,060	$486K	0.0%	$119.70	—	COM	92206C714
IWD	iShares Russell 1000 Value	1,515	$207K	0.0%	$136.63	—	COM	464287598