Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ROST	Ross Stores Inc.	1,106,527	$79.19M	4.4%	$28.26	+11.6%	COM	778296103
MD	Mednax Inc.	1,167,186	$72.34M	4.0%	$49.20	+18.2%	COM	58502B106
MKL	Markel Corp	113,871	$67.88M	3.8%	$523.59	+8.8%	COM	570535104
IEX	Idex Corporation	891,888	$65.01M	3.6%	$45.08	+38.1%	COM	45167R104
BRO	Brown & Brown Inc.	2,089,183	$64.26M	3.6%	$13.97	-2.1%	COM	115236101
EOG	EOG Resources Inc.	325,024	$63.76M	3.5%	$46.52	+39.3%	COM	26875P101
ZBRA	Zebra Technologies A	864,201	$59.98M	3.3%	$45.53	+34.7%	COM	989207105
SYK	Stryker Corp	652,827	$53.19M	2.9%	$56.92	+21.3%	COM	863667101
—	Brookfield Asset Management	1,298,263	$53.03M	2.9%	$36.02	—	COM	112585104
WTM	White Mtns Insurance	86,922	$52.15M	2.9%	$583.58	-0.0%	COM	G9618E107
DCI	Donaldson Co., Inc.	1,097,982	$46.55M	2.6%	$29.53	+17.0%	COM	257651109
BEN	Franklin Resources	820,753	$44.47M	2.5%	$29.22	+10.0%	COM	354613101
ITW	Illinois Tool Works	522,793	$42.52M	2.4%	$49.85	+22.9%	COM	452308109
CDW	CDW Corp.	1,487,689	$40.82M	2.3%	$21.69	0.0%	COM	12514G108
WAT	Waters Corp.	371,772	$40.3M	2.2%	$95.76	+13.2%	COM	941848103
KMX	Carmax	853,677	$39.95M	2.2%	$45.40	+2.9%	COM	143130102
BRK/A	Berkshire Hathaway A	207	$38.78M	2.1%	$165023.42	+6.4%	COM	084670108
—	Xilinx Inc	677,434	$36.76M	2.0%	$39.61	—	COM	983919101
—	FLIR Systems, Inc.	1,011,219	$36.4M	2.0%	$27.51	—	COM	302445101
YUM	Yum Brands	454,407	$34.26M	1.9%	$38.97	+7.9%	COM	988498101
—	Bed Bath and Beyond	489,471	$33.68M	1.9%	$70.95	—	COM	075896100
—	Knight Transportation Inc.	1,440,055	$33.31M	1.8%	$16.82	—	COM	499064103
MGRC	McGrath Rentcorp	933,096	$32.62M	1.8%	$31.91	+12.4%	COM	580589109
MCHP	Microchip Technology Inc.	679,710	$32.46M	1.8%	$14.52	+22.3%	COM	595017104
—	First Financial Holdings, Inc.	492,435	$30.84M	1.7%	$55.16	—	COM	32023e105
—	Forward Air	668,276	$30.81M	1.7%	$38.28	—	COM	349853101
L	Loews Corp	697,521	$30.73M	1.7%	$42.08	+0.3%	COM	540424108
AZO	Autozone Inc	55,901	$30.02M	1.7%	$409.85	+26.6%	COM	053332102
—	Interpublic Group of Companies	1,634,750	$28.02M	1.5%	$9.16	+23.1%	COM	460690100
MTB	M & T Bank Corp	227,505	$27.6M	1.5%	$73.94	+12.5%	COM	55261F104
GGG	Graco	340,643	$25.46M	1.4%	$16.98	+25.1%	COM	384109104
—	Starwood Hotels Resorts	301,801	$24.02M	1.3%	$66.64	—	COM	85590a401
—	Bank of the Ozarks, Inc.	349,350	$23.78M	1.3%	$44.37	—	COM	063904106
—	Aqua America Inc	908,140	$22.77M	1.3%	$29.99	—	COM	03836W103
—	Protective Life Corp.	432,100	$22.72M	1.3%	$38.41	—	COM	743674103
—	Patterson Companies Inc.	541,000	$22.59M	1.2%	$37.60	—	COM	703395103
MHK	Mohawk Industries	147,509	$20.06M	1.1%	$112.71	+27.0%	COM	608190104
BRK/B	Berkshire Hathaway B	140,520	$17.56M	1.0%	$110.02	+6.2%	COM	084670702
—	VCA Antech, Inc.	513,300	$16.54M	0.9%	$26.09	—	COM	918194101
—	Biglari Holdings Inc.	32,340	$15.77M	0.9%	$415.76	—	COM	08986r101
DLR	Digital Realty Trust Inc.	283,175	$15.03M	0.8%	$36.33	-8.8%	COM	253868103
—	Pinnacle Financial Partners	396,100	$14.85M	0.8%	$25.71	—	COM	72346Q104
AJG	Arthur J Gallagher & Co.	298,230	$14.19M	0.8%	$33.49	+10.5%	COM	363576109
MAT	Mattel Inc.	349,484	$14.02M	0.8%	$43.69	-9.1%	COM	577081102
WLY	John Wiley & Sons	225,350	$12.99M	0.7%	$27.09	+45.5%	COM	968223206
—	Winthrop Realty Trust	1,106,158	$12.82M	0.7%	$11.85	—	COM	976391300
—	Forest City Enterprises Class	603,700	$11.53M	0.6%	$19.04	—	COM	345550107
—	Sigma Aldrich Corp.	110,000	$10.27M	0.6%	$80.42	—	COM	826552101
—	OneBeacon	652,077	$10.08M	0.6%	$14.48	—	COM	G67742109
—	Questar Corp	353,550	$8.407M	0.5%	$23.85	—	COM	748356102
—	Southwestern Energy Co	178,000	$8.19M	0.5%	$36.53	—	COM	845467109
—	Fabrinet	373,156	$7.75M	0.4%	$15.29	—	COM	g3323l100
—	Physicians Realty Trust	493,900	$6.875M	0.4%	$12.52	—	COM	71943u104
EPM	Evolution Petroleum Corporatio	537,171	$6.838M	0.4%	$5.23	+23.8%	COM	30049A107
FLO	Flowers Foods	292,850	$6.282M	0.3%	$13.81	-2.7%	COM	343498101
—	US Ecology, Inc.	166,369	$6.176M	0.3%	$27.44	—	COM	91732j102
—	American Eagle Outfitters	483,122	$5.913M	0.3%	$12.24	—	COM	02553e106
—	First NBC Bank Holding Company	150,600	$5.25M	0.3%	$27.59	—	COM	32115d106
—	Patriot Transportation Holding	132,998	$4.795M	0.3%	$33.06	—	COM	70337B102
—	Rosetta Stone	420,750	$4.721M	0.3%	$14.87	—	COM	777780107
—	Destination Maternity	167,400	$4.587M	0.3%	$26.65	—	COM	25065d100
—	Tupperware Brands Corp.	50,000	$4.188M	0.2%	$78.91	—	COM	899896104
WHG	Westwood Holdings Group, Inc.	63,596	$3.987M	0.2%	$44.47	+31.8%	COM	961765104
—	Echo Global Logistics, Inc.	213,100	$3.904M	0.2%	$19.56	—	COM	27875t101
—	Infinity Property & Casualty C	56,135	$3.796M	0.2%	$66.49	—	COM	45665q103
—	Hallmark Financial Services, I	440,925	$3.664M	0.2%	$8.31	—	COM	40624q203
—	National Instruments	122,000	$3.5M	0.2%	$27.94	—	COM	636518102
—	Amerisafe, Inc.	70,900	$3.113M	0.2%	$32.38	—	COM	03071h100
CNXN	PC Connection, Inc.	151,225	$3.073M	0.2%	$18.86	0.0%	COM	69318J100
JBTM	John Bean Technologies Corpora	97,000	$2.997M	0.2%	$19.54	+46.8%	COM	477839104
—	Altera Corp	81,000	$2.935M	0.2%	$32.87	—	COM	021441100
—	Houston Wire & Cable Company	205,725	$2.701M	0.1%	$13.65	—	COM	44244K109
HOMB	Home Bancshares, Inc.	78,103	$2.688M	0.1%	$10.30	+63.2%	COM	436893200
—	U.S. Physical Therapy Inc.	61,045	$2.11M	0.1%	$27.95	—	COM	90337l108
—	Hudson Valley Holding Corp	107,822	$2.054M	0.1%	$19.05	—	COM	444172100
XOM	Exxon Mobil Corporation	20,395	$1.992M	0.1%	$53.91	+7.7%	COM	30231G102
MKC	McCormick & Co.	27,250	$1.955M	0.1%	$28.19	-5.0%	COM	579780206
—	Mistras Group, Inc.	77,375	$1.762M	0.1%	$21.66	—	COM	60649t107
—	Actavis, PLC	8,400	$1.729M	0.1%	$167.98	—	COM	g0083b108
WU	Western Union	100,000	$1.636M	0.1%	$17.11	—	COM	959802109
IBM	International Business Machine	8,110	$1.561M	0.1%	$114.11	-4.3%	COM	459200101
BANX	Stonecastle Financial Corp.	50,426	$1.239M	0.1%	$8.54	0.0%	COM	861780104
—	Landauer Inc	20,000	$907K	0.1%	$48.30	—	COM	51476K103
—	MTS Systems	11,050	$757K	0.0%	$61.82	—	COM	553777103
—	General Electric Company	22,985	$595K	0.0%	$25.02	—	COM	369604103
UNP	Union Pacific Corp	2,837	$532K	0.0%	$57.06	+19.6%	COM	907818108
CVX	Chevron Corporation	3,663	$436K	0.0%	$71.11	-1.1%	COM	166764100
—	Dr. Pepper Snapple Group Inc.	7,376	$402K	0.0%	$46.37	—	COM	26138E109
—	Clarcor Inc	6,424	$368K	0.0%	$52.15	—	COM	179895107
—	Newlink Genetics Corp	12,321	$350K	0.0%	$19.72	—	COM	651511107
PFE	Pfizer Incorporated	10,299	$331K	0.0%	$16.52	+10.2%	COM	717081103
NBTB	NBT Bancorp Inc	13,000	$318K	0.0%	$22.35	+8.2%	COM	628778102
USB	US Bancorp	7,331	$314K	0.0%	$22.41	+22.0%	COM	902973304
—	A T & T Inc New	8,865	$311K	0.0%	$35.37	—	COM	00206r102
CNMD	Conmed Corp	7,087	$308K	0.0%	$27.74	+39.3%	COM	207410101
—	Gordmans Stores, Inc.	52,400	$286K	0.0%	$13.61	—	COM	38269P100
—	SY Bancorp Inc	8,626	$273K	0.0%	$24.53	—	COM	785060104
AMGN	Amgen Incorporated	1,914	$236K	0.0%	$76.98	+12.9%	COM	031162100
—	Glenville Bank Hldg Co	2,756	$226K	0.0%	$81.64	—	COM	37908p109
PG	Procter & Gamble	2,608	$210K	0.0%	$58.01	-2.6%	COM	742718109
—	Trustco Bank Corp	20,533	$145K	0.0%	$5.45	—	COM	898349105