River Road Asset Management 13F-HR Quarterly holdings report by institutional manager

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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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
3M Company	COM	88579Y101	767	4,665	SH		SOLE		4,665	0	0
AbbVie, Inc.	COM	00287Y109	35,468	468,405	SH		SOLE		405,470	0	62,935
Advance Auto Parts, Inc.	COM	00751Y106	5,582	33,749	SH		SOLE		33,749	0	0
AES Corporation	COM	00130H105	64,937	3,974,141	SH		SOLE		3,036,265	0	937,876
Air Transport Services Group,	COM	00922R105	68,225	3,245,710	SH		SOLE		3,007,182	0	238,528
Aircastle Limited	COM	G0129K104	34,079	1,519,358	SH		SOLE		1,256,833	0	262,525
Allegheny Technologies Incorpo	COM	01741R102	10,685	527,630	SH		SOLE		484,806	0	42,824
Alliance Data Systems Corporat	COM	018581108	8,559	66,796	SH		SOLE		66,796	0	0
Alphabet Inc. Class C	COM	02079K107	4,770	3,913	SH		SOLE		3,913	0	0
America Movil SAB de CV Sponso	COM	02364W105	159	10,725	SH		SOLE		10,725	0	0
American National Insurance Co	COM	028591105	9,389	75,880	SH		SOLE		62,706	0	13,174
Amgen Inc.	COM	031162100	50,426	260,588	SH		SOLE		225,993	0	34,595
Anixter International Inc.	COM	035290105	28,648	414,471	SH		SOLE		375,589	0	38,882
Aramark	COM	03852U106	10,538	241,819	SH		SOLE		241,819	0	0
Arcosa Inc	COM	039653100	654	19,118	SH		SOLE		17,566	0	1,552
Argan, Inc.	COM	04010E109	35,257	897,353	SH		SOLE		823,254	0	74,099
Armstrong Flooring, Inc.	COM	04238R106	1,766	276,432	SH		SOLE		225,894	0	50,538
Armstrong World Industries, In	COM	04247X102	30,844	318,965	SH		SOLE		286,608	0	32,357
Atkore International Group Inc	COM	047649108	28,309	932,737	SH		SOLE		851,065	0	81,672
Avaya Holdings Corp.	COM	05351X101	26,928	2,632,236	SH		SOLE		2,412,310	0	219,926
Axis Capital Holdings Limited	COM	G0692U109	60,800	911,271	SH		SOLE		825,930	0	85,341
Barrett Business Services, Inc	COM	068463108	10,252	115,430	SH		SOLE		96,442	0	18,988
BB&T Corporation	COM	054937107	122,702	2,299,077	SH		SOLE		1,771,514	0	527,563
Berkshire Hathaway Inc. Class	COM	084670702	92,634	445,311	SH		SOLE		287,499	0	157,812
Biglari Holdings Inc. Class B	COM	08986R309	2,352	21,579	SH		SOLE		19,251	0	2,328
Biglari Holdings, Inc. Class A	COM	08986R408	3,264	5,816	SH		SOLE		5,478	0	338
BJ's Wholesale Club Holdings,	COM	05550J101	33,960	1,312,729	SH		SOLE		1,205,864	0	106,865
Bristol-Myers Squibb Company	COM	110122108	46,537	917,717	SH		SOLE		795,056	0	122,661
Brookfield Asset Management In	COM	112585104	62,634	1,179,765	SH		SOLE		767,308	0	412,457
Brookfield Property Partners L	COM	G16249107	698	34,377	SH		SOLE		34,377	0	0
Camping World Holdings, Inc. C	COM	13462K109	4,818	541,364	SH		SOLE		450,058	0	91,306
Cannae Holdings, Inc.	COM	13765N107	86,325	3,142,528	SH		SOLE		2,857,811	0	284,717
CDK Global Inc	COM	12508E101	54,605	1,135,473	SH		SOLE		875,739	0	259,734
Cedar Fair, L.P.	COM	150185106	18,749	321,263	SH		SOLE		256,158	0	65,105
Chevron Corporation	COM	166764100	26,750	225,547	SH		SOLE		190,460	0	35,087
Cinemark Holdings, Inc.	COM	17243V102	42,367	1,096,466	SH		SOLE		953,678	0	142,788
Cisco Systems, Inc.	COM	17275R102	56,293	1,139,304	SH		SOLE		986,327	0	152,977
CNA Financial Corporation	COM	126117100	31,254	634,599	SH		SOLE		536,567	0	98,032
Colfax Corporation	COM	194014106	31,311	1,077,473	SH		SOLE		988,259	0	89,214
Comcast Corporation Class A	COM	20030N101	129,162	2,865,167	SH		SOLE		2,150,872	0	714,295
Comfort Systems USA, Inc.	COM	199908104	34,222	773,720	SH		SOLE		710,310	0	63,410
Computer Programs and Systems,	COM	205306103	19,043	842,254	SH		SOLE		745,229	0	97,025
Conduent, Inc.	COM	206787103	13,011	2,091,817	SH		SOLE		1,936,520	0	155,297
Corning Inc	COM	219350105	58,299	2,044,129	SH		SOLE		1,770,686	0	273,443
CSG Systems International, Inc	COM	126349109	9,517	184,149	SH		SOLE		160,274	0	23,875
Cubic Corporation	COM	229669106	24,193	343,502	SH		SOLE		308,622	0	34,880
Diageo plc Sponsored ADR	COM	25243Q205	240	1,465	SH		SOLE		1,465	0	0
Discovery, Inc. Class C	COM	25470F302	63,400	2,575,128	SH		SOLE		1,986,700	0	588,428
Dollar Tree, Inc.	COM	256746108	1,486	13,018	SH		SOLE		13,018	0	0
Dominion Energy Inc	COM	25746U109	57,115	704,774	SH		SOLE		610,082	0	94,692
Enterprise Products Partners L	COM	293792107	36,342	1,271,592	SH		SOLE		1,051,598	0	219,994
Evolution Petroleum Corporatio	COM	30049A107	6,603	1,130,630	SH		SOLE		940,353	0	190,277
Expedia Group, Inc.	COM	30212P303	68,221	507,559	SH		SOLE		399,656	0	107,903
Extended Stay America, Inc.	COM	30224P200	82,183	5,613,599	SH		SOLE		5,025,176	0	588,423
Exxon Mobil Corporation	COM	30231G102	34,450	487,893	SH		SOLE		412,529	0	75,364
Fastenal Company	COM	311900104	61,620	1,886,131	SH		SOLE		1,632,721	0	253,410
FedEx Corporation	COM	31428X106	558	3,830	SH		SOLE		3,830	0	0
FGL Holdings Class A	COM	G3402M102	46,789	5,863,278	SH		SOLE		5,471,472	0	391,806
Fidelity National Financial, I	COM	31620R303	52,636	1,185,223	SH		SOLE		1,027,061	0	158,162
First Citizens BancShares, Inc	COM	31946M103	9,045	19,181	SH		SOLE		16,040	0	3,141
Forward Air Corporation	COM	349853101	19,177	300,963	SH		SOLE		273,190	0	27,773
GCI Liberty, Inc. Class A	COM	36164V305	104,949	1,690,809	SH		SOLE		1,466,688	0	224,121
General Electric Company	COM	369604103	1,062	118,740	SH		SOLE		118,740	0	0
Genworth Financial, Inc. Class	COM	37247D106	7,526	1,710,469	SH		SOLE		1,564,021	0	146,448
GrafTech International Ltd.	COM	384313508	57,590	4,499,222	SH		SOLE		3,509,326	0	989,896
Gran Tierra Energy Inc.	COM	38500T101	2,347	1,877,532	SH		SOLE		1,603,983	0	273,549
Harsco Corporation	COM	415864107	52,734	2,781,327	SH		SOLE		2,138,889	0	642,438
Health Insurance Innovations,	COM	42225K106	12,492	501,098	SH		SOLE		453,069	0	48,029
Hostess Brands, Inc. Class A	COM	44109J106	131,894	9,431,101	SH		SOLE		7,569,199	0	1,861,902
Illinois Tool Works Inc.	COM	452308109	39,505	252,444	SH		SOLE		218,718	0	33,726
Ingersoll-Rand Plc	COM	G47791101	204	1,659	SH		SOLE		1,659	0	0
Ingles Markets, Incorporated C	COM	457030104	35,765	920,344	SH		SOLE		832,218	0	88,126
Intel Corporation	COM	458140100	22,707	440,652	SH		SOLE		370,947	0	69,705
Interpublic Group of Companies	COM	460690100	36,409	1,688,723	SH		SOLE		1,504,892	0	183,831
Iron Mountain, Inc.	COM	46284V101	53,414	1,649,081	SH		SOLE		1,443,613	0	205,468
Ituran Location and Control Lt	COM	M6158M104	11,983	483,387	SH		SOLE		398,333	0	85,054
J. Alexander's Holdings, Inc.	COM	46609J106	8,880	757,685	SH		SOLE		626,034	0	131,651
JPMorgan Chase & Co.	COM	46625H100	38,155	324,196	SH		SOLE		205,011	0	119,185
Kansas City Southern	COM	485170302	19,823	149,032	SH		SOLE		149,032	0	0
KAR Auction Services, Inc.	COM	48238T109	17,658	719,281	SH		SOLE		631,169	0	88,112
Kimberly-Clark Corporation	COM	494368103	60,279	424,354	SH		SOLE		368,268	0	56,086
Kinder Morgan Inc Class P	COM	49456B101	116,269	5,641,378	SH		SOLE		4,265,539	0	1,375,839
KKR & Co. Inc. Class A	COM	48251W104	484	18,022	SH		SOLE		18,022	0	0
L Brands, Inc.	COM	501797104	217	11,053	SH		SOLE		11,053	0	0
Lazard Ltd Class A	COM	G54050102	31,236	892,456	SH		SOLE		790,883	0	101,573
Liberty Broadband Corp. Class	COM	530307305	91,365	872,889	SH		SOLE		636,423	0	236,466
Liberty Global Plc Class C	COM	G5480U120	2,810	118,098	SH		SOLE		118,098	0	0
Liberty Latin America Ltd. Cla	COM	G9001E102	9,669	566,445	SH		SOLE		566,445	0	0
Liberty Latin America Ltd. Cla	COM	G9001E128	60,887	3,561,658	SH		SOLE		3,266,237	0	295,421
Liberty Media Corp. Series C L	COM	531229607	35,461	845,125	SH		SOLE		564,669	0	280,456
Liberty TripAdvisor Holdings I	COM	531465102	6,290	668,402	SH		SOLE		552,971	0	115,431
Linde PLC	COM	G5494J103	16,585	85,612	SH		SOLE		74,108	0	11,504
LKQ Corporation	COM	501889208	89,729	2,853,077	SH		SOLE		2,232,929	0	620,148
LyondellBasell Industries NV	COM	N53745100	41,953	468,902	SH		SOLE		410,418	0	58,484
Magellan Midstream Partners, L	COM	559080106	31,243	471,443	SH		SOLE		394,814	0	76,629
Marathon Petroleum Corporation	COM	56585A102	82,483	1,357,745	SH		SOLE		1,011,455	0	346,290
McKesson Corporation	COM	58155Q103	46,242	338,370	SH		SOLE		212,537	0	125,833
Meredith Corporation	COM	589433101	14,967	408,263	SH		SOLE		354,041	0	54,222
Millicom International Cellula	COM	L6388F110	348	7,152	SH		SOLE		7,152	0	0
Modine Manufacturing Company	COM	607828100	7,167	630,309	SH		SOLE		518,342	0	111,967
Molson Coors Brewing Company C	COM	60871R209	2,502	43,516	SH		SOLE		43,516	0	0
Motorcar Parts of America, Inc	COM	620071100	13,217	782,044	SH		SOLE		688,371	0	93,673
MSC Industrial Direct Co., Inc	COM	553530106	57,097	787,214	SH		SOLE		699,130	0	88,084
MSG Networks Inc. Class A	COM	553573106	24,683	1,521,748	SH		SOLE		1,404,967	0	116,781
Murphy USA, Inc.	COM	626755102	36,882	432,374	SH		SOLE		391,978	0	40,396
NCR Corporation	COM	62886E108	64,420	2,041,204	SH		SOLE		1,586,571	0	454,633
Newmark Group, Inc. Class A	COM	65158N102	9,933	1,096,349	SH		SOLE		998,430	0	97,919
Nielsen Holdings Plc	COM	G6518L108	17,928	843,648	SH		SOLE		843,648	0	0
Novartis AG Sponsored ADR	COM	66987V109	206	2,375	SH		SOLE		2,375	0	0
nVent Electric plc	COM	G6700G107	23,303	1,057,284	SH		SOLE		960,663	0	96,621
Oaktree Specialty Lending Corp	COM	67401P108	22,579	4,358,893	SH		SOLE		3,866,551	0	492,342
Omnicom Group Inc	COM	681919106	49,170	627,973	SH		SOLE		543,981	0	83,992
Patterson Companies, Inc.	COM	703395103	9,430	529,159	SH		SOLE		478,049	0	51,110
PBF Energy, Inc. Class A	COM	69318G106	24,097	886,262	SH		SOLE		812,602	0	73,660
PepsiCo, Inc.	COM	713448108	45,582	332,474	SH		SOLE		287,089	0	45,385
PICO Holdings, Inc.	COM	693366205	9,618	953,234	SH		SOLE		830,563	0	122,671
PNC Financial Services Group,	COM	693475105	47,427	338,377	SH		SOLE		293,128	0	45,249
Premier Inc. Class A	COM	74051N102	102,147	3,532,059	SH		SOLE		2,820,006	0	712,053
QEP Resources, Inc.	COM	74733V100	2,026	547,572	SH		SOLE		448,260	0	99,312
QUALCOMM Incorporated	COM	747525103	32,867	430,873	SH		SOLE		374,061	0	56,812
Resideo Technologies, Inc.	COM	76118Y104	22,565	1,572,490	SH		SOLE		1,451,241	0	121,249
Resources Connection, Inc.	COM	76122Q105	15,839	932,257	SH		SOLE		823,203	0	109,054
RPM International Inc.	COM	749685103	25,256	367,039	SH		SOLE		317,654	0	49,385
Ryman Hospitality Properties,	COM	78377T107	28,450	347,761	SH		SOLE		306,100	0	41,661
Sabra Health Care REIT, Inc.	COM	78573L106	26,376	1,148,772	SH		SOLE		996,131	0	152,641
Sabre Corp.	COM	78573M104	76,531	3,417,325	SH		SOLE		2,638,507	0	778,818
Seaboard Corporation	COM	811543107	726	166	SH		SOLE		166	0	0
Six Flags Entertainment Corpor	COM	83001A102	29,089	572,724	SH		SOLE		496,757	0	75,967
Sleep Number Corporation	COM	83125X103	4,050	98,024	SH		SOLE		81,373	0	16,651
SP Plus Corporation	COM	78469C103	9,449	255,376	SH		SOLE		209,046	0	46,330
Stock Yards Bancorp, Inc.	COM	861025104	7,895	215,194	SH		SOLE		174,881	0	40,313
Sykes Enterprises, Incorporate	COM	871237103	8,031	262,114	SH		SOLE		219,226	0	42,888
Target Corporation	COM	87612E106	81,842	765,526	SH		SOLE		662,728	0	102,798
Tech Data Corporation	COM	878237106	45,153	433,165	SH		SOLE		393,042	0	40,123
Texas Pacific Land Trust	COM	882610108	334	514	SH		SOLE		514	0	0
Thomson Reuters Corporation	COM	884903709	27,988	418,485	SH		SOLE		363,328	0	55,157
TripAdvisor, Inc.	COM	896945201	8,088	209,104	SH		SOLE		209,104	0	0
U.S. Bancorp	COM	902973304	111,342	2,011,963	SH		SOLE		1,558,280	0	453,683
UniFirst Corporation	COM	904708104	48,104	246,538	SH		SOLE		222,847	0	23,691
Unilever PLC Sponsored ADR	COM	904767704	46,902	780,404	SH		SOLE		676,084	0	104,320
United Parcel Service, Inc. Cl	COM	911312106	51,496	429,780	SH		SOLE		372,047	0	57,733
United Technologies Corporatio	COM	913017109	409	2,996	SH		SOLE		2,996	0	0
UnitedHealth Group Incorporate	COM	91324P102	37,696	173,458	SH		SOLE		116,589	0	56,869
Valero Energy Corporation	COM	91913Y100	25,147	295,013	SH		SOLE		258,822	0	36,191
Ventas, Inc.	COM	92276F100	46,316	634,204	SH		SOLE		551,101	0	83,103
Verizon Communications Inc.	COM	92343V104	60,099	995,678	SH		SOLE		863,363	0	132,315
Verra Mobility Corp. Class A	COM	92511U102	13,830	963,783	SH		SOLE		875,016	0	88,767
Viad Corp	COM	92552R406	33,675	501,488	SH		SOLE		457,947	0	43,541
Vonage Holdings Corp.	COM	92886T201	14,494	1,282,646	SH		SOLE		1,167,838	0	114,808
Walgreens Boots Alliance Inc	COM	931427108	56,716	1,025,413	SH		SOLE		751,004	0	274,409
Walmart Inc.	COM	931142103	24,081	202,907	SH		SOLE		175,681	0	27,226
Walt Disney Company	COM	254687106	697	5,345	SH		SOLE		5,345	0	0
Webster Financial Corporation	COM	947890109	13,949	297,613	SH		SOLE		279,737	0	17,876
Wells Fargo & Company	COM	949746101	28,324	561,547	SH		SOLE		483,502	0	78,045
WesBanco, Inc.	COM	950810101	17,179	459,692	SH		SOLE		367,431	0	92,261
White Mountains Insurance Grou	COM	G9618E107	68,075	63,032	SH		SOLE		57,057	0	5,975
Williams Companies, Inc.	COM	969457100	43,820	1,821,285	SH		SOLE		1,581,439	0	239,846
World Fuel Services Corporatio	COM	981475106	43,515	1,089,517	SH		SOLE		843,444	0	246,073