The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
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hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABM Industries COM 000957100 38,050 1,303,974 SH   SOLE   1,303,974 0 0
AO Smith Corp. COM 831865209 2,339 39,544 SH   SOLE   39,544 0 0
Adamas Pharma Inc. COM 00548A106 542 21,000 SH   SOLE   21,000 0 0
American Int'l Group COM 026874784 52,117 982,971 SH   SOLE   982,971 0 0
Ametek Inc. COM 031100100 2,453 33,999 SH   SOLE   33,999 0 0
Analog Devices COM 032654105 2,125 22,154 SH   SOLE   22,154 0 0
Aon plc COM G0408V102 27,057 197,250 SH   SOLE   197,250 0 0
Bank of America Corp. COM 060505104 2,064 73,200 SH   SOLE   73,200 0 0
Beacon Roofing Supply COM 073685109 32,161 754,610 SH   SOLE   754,610 0 0
Biogen, Inc. COM 09062X103 580 2,000 SH   SOLE   2,000 0 0
Crane Co. COM 224399105 2,136 26,657 SH   SOLE   26,657 0 0
D.R. Horton Inc. COM 23331A109 30,260 738,050 SH   SOLE   738,050 0 0
Ecolab Inc. COM 278865100 21,823 155,510 SH   SOLE   155,510 0 0
First Data Corp. COM 32008D106 40,685 1,943,865 SH   SOLE   1,943,865 0 0
Fiserv Inc. COM 337738108 26,462 357,160 SH   SOLE   357,160 0 0
General Electric Co COM 369604103 1,108 81,400 SH   SOLE   81,400 0 0
Hanesbrands Inc. COM 410345102 32,379 1,470,446 SH   SOLE   1,470,446 0 0
Hovnanian Entr. COM 442487203 1,811 1,111,000 SH   SOLE   1,111,000 0 0
Iridium Comm. COM 46269C102 1,594 99,000 SH   SOLE   99,000 0 0
MRC Global Inc. COM 55345K103 1,300 60,000 SH   SOLE   60,000 0 0
Microsoft Corp. COM 594918104 8,402 85,201 SH   SOLE   85,201 0 0
NVR Inc. COM 62944T105 1,224 412 SH   SOLE   412 0 0
NexGen Energy Ltd. COM 65340P106 1,547 837,500 SH   SOLE   837,500 0 0
Roper Technologies COM 776696106 2,779 10,072 SH   SOLE   10,072 0 0
Ross Stores, Inc. COM 778296103 4,131 48,742 SH   SOLE   48,742 0 0
Royal Dutch Shell COM 780259206 16,543 238,960 SH   SOLE   238,960 0 0
SEI Investments COM 784117103 15,066 240,980 SH   SOLE   240,980 0 0
SM Energy Company COM 78454L100 2,787 108,500 SH   SOLE   108,500 0 0
SP Plus Corp. COM 78469C103 25,278 679,515 SH   SOLE   679,515 0 0
Service Corp. Int'l COM 817565104 25,199 704,075 SH   SOLE   704,075 0 0
ServiceMaster Global COM 81761R109 30,660 515,550 SH   SOLE   515,550 0 0
The TJX Companies COM 872540109 4,015 42,186 SH   SOLE   42,186 0 0
Toll Brothers, Inc. COM 889478103 25,294 683,800 SH   SOLE   683,800 0 0
Visa Inc. COM 92826C839 2,941 22,201 SH   SOLE   22,201 0 0
WABTEC Corp. COM 929740108 2,722 27,610 SH   SOLE   27,610 0 0
Watsco, Inc. COM 942622200 232 1,300 SH   SOLE   1,300 0 0
Welbilt Inc. COM 949090104 28,030 1,256,375 SH   SOLE   1,256,375 0 0