Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	Hostess Brands, Inc. Class A	11,375,042	$165M	2.6%	$14.30	—	COM	44109J106
—	Premier Inc. Class A	4,248,141	$161M	2.5%	$35.77	—	COM	74051N102
CMCSA	Comcast Corporation Class A	3,205,499	$144M	2.3%	$31.75	+19.3%	COM	20030N101
CNNE	Cannae Holdings, Inc.	3,709,717	$138M	2.2%	$20.05	+56.0%	COM	13765N107
KMI	Kinder Morgan Inc Class P	6,295,927	$133M	2.1%	$12.18	+15.4%	COM	49456B101
TFC	Truist Financial Corporation	2,340,163	$132M	2.1%	$40.89	0.0%	COM	89832Q109
—	GCI Liberty, Inc. Class A	1,739,527	$123M	1.9%	$55.57	—	COM	36164V305
—	Discovery, Inc. Class C	4,009,178	$122M	1.9%	$26.52	—	COM	25470F302
LBRDK	Liberty Broadband Corp. Class	920,486	$116M	1.8%	$80.26	+35.9%	COM	530307305
USB	U.S. Bancorp	1,821,744	$108M	1.7%	$27.37	+62.0%	COM	902973304
BRK/B	Berkshire Hathaway Inc. Class	471,309	$107M	1.7%	$195.36	+11.2%	COM	084670702
—	Extended Stay America, Inc.	6,884,446	$102M	1.6%	$17.45	—	COM	30224P200
—	Air Transport Services Group,	4,281,560	$100M	1.6%	$20.93	—	COM	00922R105
LKQ	LKQ Corporation	2,764,990	$98.71M	1.6%	$24.64	+23.7%	COM	501889208
SABR	Sabre Corp.	4,396,992	$98.67M	1.6%	$22.49	-1.4%	COM	78573M104
VYX	NCR Corporation	2,797,658	$98.37M	1.6%	$18.20	+6.9%	COM	62886E108
EXPE	Expedia Group, Inc.	844,374	$91.31M	1.4%	$120.15	-3.7%	COM	30212P303
MPC	Marathon Petroleum Corporation	1,493,137	$89.96M	1.4%	$40.76	+26.7%	COM	56585A102
AES	AES Corporation	4,458,902	$88.73M	1.4%	$12.98	+10.6%	COM	00130H105
LILAK	Liberty Latin America Ltd. Cla	4,511,467	$87.79M	1.4%	$18.54	-8.2%	COM	G9001E128
WTM	White Mountains Insurance Grou	74,072	$82.63M	1.3%	$742.32	+46.9%	COM	G9618E107
—	CDK Global Inc	1,390,032	$76.01M	1.2%	$49.60	—	COM	12508E101
—	Cubic Corporation	1,161,957	$73.87M	1.2%	$59.72	—	COM	229669106
EPD	Enterprise Products Partners L	2,604,329	$73.34M	1.2%	$26.81	—	COM	293792107
TGT	Target Corporation	558,082	$71.55M	1.1%	$49.50	+101.7%	COM	87612E106
BMY	Bristol-Myers Squibb Company	1,111,927	$71.38M	1.1%	$39.26	+15.1%	COM	110122108
NVRI	Harsco Corporation	3,060,276	$70.42M	1.1%	$21.36	-2.1%	COM	415864107
—	Six Flags Entertainment Corpor	1,554,699	$70.13M	1.1%	$46.79	—	COM	83001A102
GLW	Corning Inc	2,359,042	$68.67M	1.1%	$15.46	+58.1%	COM	219350105
VZ	Verizon Communications Inc.	1,084,822	$66.61M	1.1%	$29.69	+44.1%	COM	92343V104
—	Brookfield Asset Management In	1,125,761	$65.07M	1.0%	$44.68	—	COM	112585104
CNK	Cinemark Holdings, Inc.	1,902,933	$64.41M	1.0%	$30.06	+13.7%	COM	17243V102
AXS	Axis Capital Holdings Limited	1,072,850	$63.77M	1.0%	$46.69	+8.8%	COM	G0692U109
PRSU	Viad Corp	940,196	$63.46M	1.0%	$55.24	+16.9%	COM	92552R406
PGR	Progressive Corporation	859,803	$62.24M	1.0%	$59.30	0.0%	COM	743315103
—	Walgreens Boots Alliance Inc	1,052,688	$62.07M	1.0%	$59.07	—	COM	931427108
CSCO	Cisco Systems, Inc.	1,235,108	$59.24M	0.9%	$30.71	+25.6%	COM	17275R102
UNH	UnitedHealth Group Incorporate	201,343	$59.19M	0.9%	$219.82	+7.6%	COM	91324P102
FAST	Fastenal Company	1,576,795	$58.26M	0.9%	$9.67	+58.1%	COM	311900104
BJ	BJ's Wholesale Club Holdings,	2,542,691	$57.82M	0.9%	$24.81	-0.4%	COM	05550J101
KMB	Kimberly-Clark Corporation	419,839	$57.75M	0.9%	$79.14	+37.5%	COM	494368103
D	Dominion Energy Inc	690,328	$57.17M	0.9%	$55.55	+12.3%	COM	25746U109
MSM	MSC Industrial Direct Co., Inc	687,478	$53.95M	0.9%	$81.43	-9.3%	COM	553530106
UNF	UniFirst Corporation	266,986	$53.93M	0.9%	$113.60	+71.6%	COM	904708104
VTR	Ventas, Inc.	925,499	$53.44M	0.8%	$44.00	+11.7%	COM	92276F100
PNC	PNC Financial Services Group,	331,494	$52.92M	0.8%	$69.57	+72.7%	COM	693475105
FNF	Fidelity National Financial, I	1,152,750	$52.28M	0.8%	$28.17	+19.4%	COM	31620R303
IRM	Iron Mountain, Inc.	1,635,549	$52.13M	0.8%	$19.61	+22.2%	COM	46284V101
—	Avaya Holdings Corp.	3,857,746	$52.08M	0.8%	$17.10	—	COM	05351X101
YELP	Yelp Inc	1,489,878	$51.89M	0.8%	$33.93	0.0%	COM	985817105
AGX	Argan, Inc.	1,291,263	$51.83M	0.8%	$33.47	-3.3%	COM	04010E109
AMGN	Amgen Inc.	207,871	$50.11M	0.8%	$116.17	+57.3%	COM	031162100
OMC	Omnicom Group Inc	614,971	$49.83M	0.8%	$52.02	+20.2%	COM	681919106
UPS	United Parcel Service, Inc. Cl	420,801	$49.26M	0.8%	$63.97	+45.1%	COM	911312106
—	Colfax Corporation	1,286,473	$46.8M	0.7%	$26.14	—	COM	194014106
FIX	Comfort Systems USA, Inc.	909,989	$45.36M	0.7%	$42.76	+9.8%	COM	199908104
PEP	PepsiCo, Inc.	325,522	$44.49M	0.7%	$64.51	+74.8%	COM	713448108
—	Liberty Media Corp. Series C L	920,482	$44.31M	0.7%	$39.54	—	COM	531229607
—	FGL Holdings Class A	4,137,068	$44.06M	0.7%	$8.75	—	COM	G3402M102
—	Unilever PLC Sponsored ADR	764,207	$43.69M	0.7%	$43.06	—	COM	904767704
LYB	LyondellBasell Industries NV	458,669	$43.34M	0.7%	$51.98	+17.6%	COM	N53745100
—	Interpublic Group of Companies	1,838,752	$42.48M	0.7%	$16.72	+2.9%	COM	460690100
WMB	Williams Companies, Inc.	1,764,855	$41.86M	0.7%	$19.01	-14.4%	COM	969457100
IMKTA	Ingles Markets, Incorporated C	866,289	$41.16M	0.6%	$30.56	+30.6%	COM	457030104
ABBV	AbbVie, Inc.	458,829	$40.63M	0.6%	$52.58	+22.9%	COM	00287Y109
NVT	nVent Electric plc	1,521,543	$38.92M	0.6%	$20.01	+2.9%	COM	G6700G107
ITW	Illinois Tool Works Inc.	212,061	$38.09M	0.6%	$110.50	+32.4%	COM	452308109
AWI	Armstrong World Industries, In	401,475	$37.73M	0.6%	$51.59	+74.0%	COM	04247X102
—	MSG Networks Inc. Class A	2,147,658	$37.37M	0.6%	$19.96	—	COM	553573106
PBF	PBF Energy, Inc. Class A	1,190,242	$37.34M	0.6%	$29.89	+2.9%	COM	69318G106
QCOM	QUALCOMM Incorporated	422,074	$37.24M	0.6%	$50.84	+43.3%	COM	747525103
MUSA	Murphy USA, Inc.	316,864	$37.07M	0.6%	$64.80	+61.8%	COM	626755102
—	GrafTech International Ltd.	3,071,953	$35.7M	0.6%	$12.45	—	COM	384313508
WFC	Wells Fargo & Company	656,454	$35.32M	0.6%	$39.85	+12.2%	COM	949746101
PFE	Pfizer Inc.	892,891	$34.98M	0.6%	$26.71	0.0%	COM	717081103
—	Lazard Ltd Class A	869,582	$34.75M	0.5%	$36.91	—	COM	G54050102
MCK	McKesson Corporation	249,450	$34.5M	0.5%	$123.12	+10.1%	COM	58155Q103
XOM	Exxon Mobil Corporation	475,444	$33.18M	0.5%	$51.07	+2.0%	COM	30231G102
—	Atlantica Yield plc	1,184,857	$31.27M	0.5%	$26.39	—	COM	G0751N103
—	Oaktree Specialty Lending Corp	5,551,343	$30.31M	0.5%	$5.03	—	COM	67401P108
—	Nielsen Holdings Plc	1,483,484	$30.11M	0.5%	$29.15	—	COM	G6518L108
RHP	Ryman Hospitality Properties,	340,562	$29.51M	0.5%	$63.22	—	COM	78377T107
—	Thomson Reuters Corporation	406,571	$29.11M	0.5%	$48.31	—	COM	884903709
—	Magellan Midstream Partners, L	451,388	$28.38M	0.4%	$67.81	—	COM	559080106
CNA	CNA Financial Corporation	622,283	$27.89M	0.4%	$21.42	+34.8%	COM	126117100
TBRG	Computer Programs and Systems,	1,052,182	$27.78M	0.4%	$25.17	-2.2%	COM	205306103
VLO	Valero Energy Corporation	286,257	$26.81M	0.4%	$51.35	+43.4%	COM	91913Y100
CVX	Chevron Corporation	220,972	$26.63M	0.4%	$72.10	+24.4%	COM	166764100
WKC	World Fuel Services Corporatio	610,647	$26.51M	0.4%	$30.36	+37.8%	COM	981475106
INTC	Intel Corporation	431,915	$25.85M	0.4%	$18.10	+172.1%	COM	458140100
WBS	Webster Financial Corporation	475,998	$25.4M	0.4%	$48.34	-0.5%	COM	947890109
SBRA	Sabra Health Care REIT, Inc.	1,106,937	$23.62M	0.4%	$24.11	—	COM	78573L106
—	Cedar Fair, L.P.	420,927	$23.34M	0.4%	$57.46	—	COM	150185106
REZI	Resideo Technologies, Inc.	1,817,424	$21.68M	0.3%	$18.90	-39.8%	COM	76118Y104
—	Vonage Holdings Corp.	2,789,783	$20.67M	0.3%	$9.21	—	COM	92886T201
IWM	iShr Russell 2000 Index	123,000	$20.38M	0.3%	$165.67	—	COM	464287655
ATI	Allegheny Technologies Incorpo	962,205	$19.88M	0.3%	$21.39	+1.3%	COM	01741R102
ACA	Arcosa Inc	445,382	$19.84M	0.3%	$37.52	+0.4%	COM	039653100
MPAA	Motorcar Parts of America, Inc	893,153	$19.68M	0.3%	$28.83	-33.0%	COM	620071100
CNDT	Conduent, Inc.	3,117,947	$19.33M	0.3%	$12.86	-51.4%	COM	206787103
—	Core-Mark Holding Company, Inc	690,413	$18.77M	0.3%	$27.19	—	COM	218681104
VRRM	Verra Mobility Corp. Class A	1,309,393	$18.32M	0.3%	$12.07	+18.9%	COM	92511U102
TRIP	TripAdvisor, Inc.	599,748	$18.22M	0.3%	$33.37	-5.9%	COM	896945201
LILA	Liberty Latin America Ltd. Cla	926,360	$17.88M	0.3%	$18.05	-5.2%	COM	G9001E102
ITRN	Ituran Location and Control Lt	703,072	$17.67M	0.3%	$24.36	+0.4%	COM	M6158M104
—	Kansas City Southern	115,108	$17.63M	0.3%	$99.87	—	COM	485170302
NMRK	Newmark Group, Inc. Class A	1,295,565	$17.43M	0.3%	$11.31	-3.7%	COM	65158N102
WSBC	WesBanco, Inc.	451,240	$17.05M	0.3%	$35.25	+5.9%	COM	950810101
RGP	Resources Connection, Inc.	1,039,727	$16.98M	0.3%	$15.93	-4.6%	COM	76122Q105
—	Forward Air Corporation	223,427	$15.63M	0.2%	$42.66	—	COM	349853101
OPLN	KAR Auction Services, Inc.	704,068	$15.34M	0.2%	$16.35	+39.5%	COM	48238T109
—	Health Insurance Innovations,	784,978	$15.14M	0.2%	$23.92	—	COM	42225K106
—	Tech Data Corporation	104,988	$15.08M	0.2%	$83.93	—	COM	878237106
RPM	RPM International Inc.	182,975	$14.04M	0.2%	$50.15	+44.6%	COM	749685103
ATKR	Atkore International Group Inc	338,334	$13.69M	0.2%	$24.12	+47.9%	COM	047649108
BFH	Alliance Data Systems Corporat	118,016	$13.24M	0.2%	$93.12	-14.9%	COM	018581108
—	Meredith Corporation	397,679	$12.91M	0.2%	$53.80	—	COM	589433101
—	PICO Holdings, Inc.	1,089,890	$12.12M	0.2%	$17.57	—	COM	693366205
GNW	Genworth Financial, Inc. Class	2,491,929	$10.96M	0.2%	$3.54	+18.7%	COM	37247D106
—	SP Plus Corporation	247,676	$10.51M	0.2%	$26.65	—	COM	78469C103
BBSI	Barrett Business Services, Inc	114,230	$10.33M	0.2%	$13.12	+55.1%	COM	068463108
FCNCA	First Citizens BancShares, Inc	18,511	$9.852M	0.2%	$256.44	+93.2%	COM	31946M103
—	QEP Resources, Inc.	2,176,118	$9.793M	0.2%	$5.80	—	COM	74733V100
—	American National Insurance Co	76,590	$9.013M	0.1%	$100.77	—	COM	028591105
—	Liberty TripAdvisor Holdings I	1,188,724	$8.737M	0.1%	$8.51	—	COM	531465102
SYBT	Stock Yards Bancorp, Inc.	211,274	$8.675M	0.1%	$32.57	+21.9%	COM	861025104
AAP	Advance Auto Parts, Inc.	52,229	$8.365M	0.1%	$116.91	+20.8%	COM	00751Y106
DXC	DXC Technology Co.	209,788	$7.886M	0.1%	$31.87	0.0%	COM	23355L106
—	Callon Petroleum Company	1,594,211	$7.7M	0.1%	$4.83	—	COM	13123X102
—	J. Alexander's Holdings, Inc.	795,425	$7.604M	0.1%	$10.44	—	COM	46609J106
EPM	Evolution Petroleum Corporatio	1,233,759	$6.749M	0.1%	$4.55	-22.0%	COM	30049A107
MOD	Modine Manufacturing Company	783,302	$6.031M	0.1%	$11.30	-20.7%	COM	607828100
—	Patterson Companies, Inc.	293,986	$6.021M	0.1%	$21.99	—	COM	703395103
DIS	Walt Disney Company	28,710	$4.152M	0.1%	$132.94	+2.1%	COM	254687106
DLTR	Dollar Tree, Inc.	40,689	$3.827M	0.1%	$104.85	+0.1%	COM	256746108
TPICQ	TPI Composites, Inc.	199,621	$3.695M	0.1%	$18.35	0.0%	COM	87266J104
BH/A	Biglari Holdings, Inc. Class A	5,596	$3.358M	0.1%	$989.83	-46.8%	COM	08986R408
—	Gran Tierra Energy Inc.	2,464,412	$3.179M	0.1%	$2.10	—	COM	38500T101
GOOG	Alphabet Inc. Class C	2,369	$3.167M	0.0%	$56.12	+14.1%	COM	02079K107
BH	Biglari Holdings Inc. Class B	21,509	$2.461M	0.0%	$226.63	-55.0%	COM	08986R309
TAP	Molson Coors Beverage Company	43,516	$2.346M	0.0%	$46.61	-1.4%	COM	60871R209
—	Liberty Global Plc Class C	80,120	$1.746M	0.0%	$24.36	—	COM	G5480U120
—	General Electric Company	118,740	$1.325M	0.0%	$8.87	—	COM	369604103
IWD	iShares Russell 1000 Value ETF	6,229	$850K	0.0%	$136.46	—	COM	464287598
SEB	Seaboard Corporation	166	$706K	0.0%	$4146.76	-0.7%	COM	811543107
—	Texas Pacific Land Trust	897	$701K	0.0%	$774.64	—	COM	882610108
—	United Technologies Corporatio	4,565	$684K	0.0%	$141.09	—	COM	913017109
KKR	KKR & Co. Inc. Class A	23,433	$684K	0.0%	$25.16	+6.4%	COM	48251W104
ALEX	Alexander & Baldwin, Inc.	26,370	$553K	0.0%	$20.97	—	COM	014491104
MMM	3M Company	2,597	$458K	0.0%	$110.63	+1.0%	COM	88579Y101
PAA	Plains All American Pipeline,	21,285	$391K	0.0%	$18.37	—	COM	726503105
SAP	SAP SE Sponsored ADR	1,631	$219K	0.0%	$134.27	—	COM	803054204
—	Ingersoll-Rand Plc	1,635	$217K	0.0%	$88.57	—	COM	G47791101
—	America Movil SAB de CV Sponso	10,559	$169K	0.0%	$14.83	—	COM	02364W105
MUFG	Mitsubishi UFJ Financial Group	18,557	$101K	0.0%	$5.44	—	COM	606822104