Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
MSFT	Microsoft Corp.	2,107,285	$497M	5.2%	$235.77 *	$51.21	+335.2%	COM	594918104
GOOG	Alphabet Inc.	234,968	$486M	5.1%	$2068.63 *	$58.90	+67.2%	COM	02079K107
PEP	PepsiCo, Inc.	3,316,568	$469M	4.9%	$141.45 *	$58.29	+102.3%	COM	713448108
SYY	Sysco Corporation	5,924,134	$466M	4.9%	$78.74 *	$38.88	+75.1%	COM	871829107
PG	Procter & Gamble	3,216,634	$436M	4.6%	$135.43 *	$59.13	+95.6%	COM	742718109
DIS	Walt Disney Company	2,264,873	$418M	4.4%	$184.52 *	$108.54	+66.0%	COM	254687106
NWSA	News Corp Cl A	16,297,702	$414M	4.3%	$25.43 *	$12.50	+71.6%	COM	65249B109
BKNG	Booking Hldgs Inc. Com	165,728	$386M	4.0%	$2329.84 *	$1760.50	+24.1%	COM	09857L108
JNJ	Johnson & Johnson	2,198,411	$361M	3.8%	$164.35 *	$62.06	+126.9%	COM	478160104
CTSH	Cognizant Technology Solutions	4,418,032	$345M	3.6%	$78.12 *	$57.06	+25.5%	COM	192446102
KO	Coca-Cola Co.	6,518,232	$344M	3.6%	$52.71 *	$28.43	+52.6%	COM	191216100
FOX	Fox Corp B	8,639,787	$302M	3.2%	$34.93 *	$32.36	-3.3%	COM	35137L204
STT	State Street Corp	3,550,416	$298M	3.1%	$84.01 *	$49.74	+32.8%	COM	857477103
USB	U.S. Bancorp	4,736,604	$262M	2.7%	$55.31 *	$23.66	+70.4%	COM	902973304
INGR	Ingredion Inc	2,642,505	$238M	2.5%	$89.92 *	$79.47	+7.6%	COM	457187102
SCHW	Charles Schwab Corp	3,498,306	$228M	2.4%	$65.18 *	$42.46	+34.1%	COM	808513105
BRK/B	Berkshire Hathaway B	824,243	$211M	2.2%	$255.47 *	$230.83	+5.2%	COM	084670702
CNQ	Canadian Natural Resources Ltd	6,698,614	$207M	2.2%	$30.87 *	$10.80	0.0%	COM	136385101
TSN	Tyson Foods Inc	2,730,960	$203M	2.1%	$74.30 *	$53.54	+11.1%	COM	902494103
HUN	Huntsman Corporation	6,749,558	$195M	2.0%	$28.83 *	$19.53	+43.4%	COM	447011107
BK	BNY Mellon Corp.	3,847,468	$182M	1.9%	$47.29 *	$23.02	+66.3%	COM	064058100
WFC	Wells Fargo & Co	4,600,092	$180M	1.9%	$39.07 *	$32.36	-2.3%	COM	949746101
UHAL	Amerco	254,121	$156M	1.6%	$612.60 *	$35.20	+51.1%	COM	023586100
M	Macy's Inc.	9,295,192	$150M	1.6%	$16.19 *	$16.85	-9.4%	COM	55616P104
CSCO	Cisco Systems Inc.	2,877,221	$149M	1.6%	$51.71 *	$15.66	+159.3%	COM	17275R102
ELV	Anthem Inc.	406,639	$146M	1.5%	$358.95 *	$114.74	+162.2%	COM	036752103
NOC	Northrop Grumman Corp	432,680	$140M	1.5%	$323.64 *	$278.19	0.0%	COM	666807102
LMT	Lockheed Martin Corp.	375,276	$139M	1.4%	$369.50 *	$299.96	0.0%	COM	539830109
LHX	L3Harris Technologies	679,431	$138M	1.4%	$202.68 *	$169.70	0.0%	COM	502431109
ORCL	Oracle Corporation	1,958,751	$137M	1.4%	$70.17 *	$30.41	+99.3%	COM	68389X105
MSM	MSC Industrial Direct Co.	1,286,337	$116M	1.2%	$90.19 *	$66.35	+28.4%	COM	553530106
CL	Colgate-Palmolive	1,328,300	$105M	1.1%	$78.83 *	$46.44	+50.7%	COM	194162103
AWI	Armstrong World Industries	1,114,106	$100M	1.0%	$90.09 *	$80.81	0.0%	COM	04247X102
FOXA	Fox Corp A	2,771,315	$100M	1.0%	$36.11 *	$31.83	+3.2%	COM	35137L105
RL	Ralph Lauren Corp	799,976	$98.53M	1.0%	$123.16 *	$91.77	+12.3%	COM	751212101
GS	Goldman Sachs Grp	264,009	$86.33M	0.9%	$327.00 *	$156.24	+77.2%	COM	38141G104
CMCSA	Comcast Cl A	1,524,200	$82.47M	0.9%	$54.11 *	$28.04	+64.6%	COM	20030N101
COP	ConocoPhillips	1,551,872	$82.2M	0.9%	$52.97 *	$39.59	+4.6%	COM	20825C104
FHB	First Hawaiian Inc.	2,949,180	$80.72M	0.8%	$27.37 *	$18.92	+13.9%	COM	32051X108
XOM	Exxon Mobil Corp.	1,384,208	$77.28M	0.8%	$55.83 *	$51.88	-16.5%	COM	30231G102
—	Graftech International LTD	5,316,354	$65.02M	0.7%	$12.23	$9.63	—	COM	384313508
MU	Micron Technology Inc	702,991	$62.01M	0.6%	$88.21 *	$44.84	+84.6%	COM	595112103
GLW	Corning Inc.	1,204,500	$52.41M	0.5%	$43.51 *	$10.83	+210.1%	COM	219350105
—	Firstcash Inc. Com	632,951	$41.57M	0.4%	$65.67	$66.45	—	COM	33767D105
ACA	Arcosa Inc.	471,371	$30.68M	0.3%	$65.09 *	$30.45	+98.8%	COM	039653100
BRK/A	Berkshire Hathaway A	58	$22.37M	0.2%	$385706.90 *	$244748.08	+49.8%	COM	084670108
ABEV	Ambev SSA	7,000,000	$19.18M	0.2%	$2.74	$2.64	—	ADR	02319V103
—	Unilever PLC ADR	253,011	$14.13M	0.1%	$55.83	$60.17	—	ADR	904767704
NWS	News Corp CL B	569,526	$13.36M	0.1%	$23.46 *	$12.14	+70.8%	COM	65249B208
—	Trecora Resources	948,100	$7.367M	0.1%	$7.77	$6.85	—	COM	894648104
SYK	Stryker Corporation	23,017	$5.606M	0.1%	$243.56 *	$57.94	+293.1%	COM	863667101
RDI	Reading International, Inc.	741,100	$4.113M	0.0%	$5.55 *	$10.45	-36.2%	COM	755408101
CLX	Clorox Company	19,225	$3.708M	0.0%	$192.87 *	$62.45	+164.3%	COM	189054109
MA	Mastercard Inc.	9,280	$3.304M	0.0%	$356.03 *	$287.82	+18.0%	COM	57636Q104
VMI	Valmont Industries Inc.	12,195	$2.898M	0.0%	$237.64 *	$129.69	+71.0%	COM	920253101
PM	Philip Morris Intl	23,501	$2.085M	0.0%	$88.72 *	$50.39	+32.6%	COM	718172109
TLYS	Tilly's, Inc.	150,000	$1.698M	0.0%	$11.32 *	$5.99	+57.7%	COM	886885102
HSY	Hershey Co.	10,200	$1.613M	0.0%	$158.14 *	$82.43	+62.6%	COM	427866108
LEGH	Legacy Housing Corporation	82,800	$1.468M	0.0%	$17.73 *	$12.05	+32.5%	COM	52472M101
MO	Altria Group Inc.	22,500	$1.151M	0.0%	$51.16 *	$16.28	+86.8%	COM	02209S103
CATO	Cato Corp	91,998	$1.104M	0.0%	$12.00 *	$8.96	0.0%	COM	149205106
—	Spark Networks SE	86,000	$641K	0.0%	$7.45	$5.53	—	ADR	846517100
EPM	Evolution Petroleum Corporatio	165,000	$558K	0.0%	$3.38 *	$1.75	+37.2%	COM	30049A107
AMPY	Amplify Energy Corp	170,000	$473K	0.0%	$2.78 *	$2.66	0.0%	COM	03212B103
—	Otelco Inc.	34,031	$400K	0.0%	$11.75	$13.34	—	COM	688823301
INFY	Infosys Ltd	15,000	$281K	0.0%	$18.73	$12.54	—	ADR	456788108