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	27,776	173,403	SH		SOLE		141,969	0	31,434
AbbVie, Inc.	COM	00287Y109	35,981	410,791	SH		SOLE		336,608	0	74,183
ACI Worldwide, Inc.	COM	004498101	52,941	2,026,057	SH		SOLE		1,945,903	0	80,154
Advance Auto Parts, Inc.	COM	00751Y106	111,481	726,261	SH		SOLE		457,884	0	268,377
AES Corporation	COM	00130H105	106,397	5,875,034	SH		SOLE		3,278,161	0	2,596,873
Air Transport Services Group,	COM	00922R105	167,850	6,697,908	SH		SOLE		5,698,450	0	999,458
Alphabet Inc. Class C	COM	02079K107	57,746	39,294	SH		SOLE		16,742	0	22,552
America Movil SAB de CV Sponso	COM	02364W105	160	12,811	SH		SOLE		12,811	0	0
American Express Company	COM	025816109	1,706	17,014	SH		SOLE		17,014	0	0
American Financial Group, Inc.	COM	025932104	2,892	43,184	SH		SOLE		43,184	0	0
Amgen Inc.	COM	031162100	42,173	165,932	SH		SOLE		136,153	0	29,779
Anthem, Inc.	COM	036752103	577	2,150	SH		SOLE		2,150	0	0
Argan, Inc.	COM	04010E109	67,828	1,618,418	SH		SOLE		1,556,529	0	61,889
Armstrong World Industries, In	COM	04247X102	118,507	1,722,236	SH		SOLE		1,201,621	0	520,615
Atkore International Group Inc	COM	047649108	21,263	935,461	SH		SOLE		888,329	0	47,132
Atlantica Sustainable Infrastr	COM	G0751N103	31,715	1,108,541	SH		SOLE		912,389	0	196,152
Avaya Holdings Corp.	COM	05351X101	67,496	4,440,523	SH		SOLE		4,285,897	0	154,626
Axalta Coating Systems Ltd.	COM	G0750C108	23,088	1,041,388	SH		SOLE		998,422	0	42,966
Axis Capital Holdings Limited	COM	G0692U109	118,083	2,681,256	SH		SOLE		2,006,498	0	674,758
Barrett Business Services, Inc	COM	068463108	7,330	139,782	SH		SOLE		123,514	0	16,268
Berkshire Hathaway Inc. Class	COM	084670702	162,984	765,399	SH		SOLE		342,972	0	422,427
BJ's Wholesale Club Holdings,	COM	05550J101	92,924	2,236,450	SH		SOLE		2,148,412	0	88,038
Black Hills Corporation	COM	092113109	19,741	369,056	SH		SOLE		302,102	0	66,954
Bristol-Myers Squibb Company	COM	110122108	123,572	2,049,621	SH		SOLE		1,212,670	0	836,951
Cannae Holdings, Inc.	COM	13765N107	154,339	4,142,213	SH		SOLE		3,428,361	0	713,852
Carlisle Companies Incorporate	COM	142339100	508	4,155	SH		SOLE		4,155	0	0
Cass Information Systems, Inc.	COM	14808P109	7,723	191,916	SH		SOLE		138,897	0	53,019
Cboe Global Markets Inc	COM	12503M108	566	6,455	SH		SOLE		6,455	0	0
CDK Global Inc	COM	12508E101	57,974	1,329,995	SH		SOLE		1,267,389	0	62,606
Centene Corporation	COM	15135B101	336	5,766	SH		SOLE		5,766	0	0
Chubb Limited	COM	H1467J104	84,218	725,268	SH		SOLE		395,956	0	329,312
Cinemark Holdings, Inc.	COM	17243V102	8,233	823,280	SH		SOLE		792,784	0	30,496
Cisco Systems, Inc.	COM	17275R102	106,879	2,713,352	SH		SOLE		1,577,023	0	1,136,329
CNA Financial Corporation	COM	126117100	19,852	661,943	SH		SOLE		538,051	0	123,892
Colfax Corporation	COM	194014106	22,154	706,429	SH		SOLE		679,040	0	27,389
Comcast Corporation Class A	COM	20030N101	182,496	3,945,004	SH		SOLE		2,228,110	0	1,716,894
Comfort Systems USA, Inc.	COM	199908104	61,339	1,190,808	SH		SOLE		1,140,838	0	49,970
Computer Programs and Systems,	COM	205306103	31,356	1,135,658	SH		SOLE		1,070,759	0	64,899
Core-Mark Holding Company, Inc	COM	218681104	8,217	284,015	SH		SOLE		272,824	0	11,191
Corning Inc	COM	219350105	65,134	2,009,674	SH		SOLE		1,647,615	0	362,059
CSG Systems International, Inc	COM	126349109	11,340	276,912	SH		SOLE		227,665	0	49,247
Cubic Corporation	COM	229669106	124,589	2,141,804	SH		SOLE		1,705,052	0	436,752
Cushman & Wakefield Plc	COM	G2717B108	9,038	859,984	SH		SOLE		754,447	0	105,537
CVS Health Corporation	COM	126650100	2,444	41,843	SH		SOLE		41,843	0	0
Discovery, Inc. Class C	COM	25470F302	87,951	4,487,318	SH		SOLE		3,045,887	0	1,441,431
Dollar Tree, Inc.	COM	256746108	3,387	37,084	SH		SOLE		37,084	0	0
Dominion Energy Inc	COM	25746U109	22,803	288,898	SH		SOLE		236,256	0	52,642
DXC Technology Co.	COM	23355L106	23,984	1,343,656	SH		SOLE		1,281,155	0	62,501
Enterprise Products Partners L	COM	293792107	20,246	1,282,211	SH		SOLE		1,044,629	0	237,582
ePlus inc.	COM	294268107	54,397	743,127	SH		SOLE		700,219	0	42,908
EVERTEC, Inc.	COM	30040P103	4,216	121,465	SH		SOLE		106,419	0	15,046
Evolution Petroleum Corporatio	COM	30049A107	2,858	1,275,778	SH		SOLE		1,096,277	0	179,501
Extended Stay America, Inc.	COM	30224P200	64,974	5,437,140	SH		SOLE		5,228,529	0	208,611
Fidelity National Financial, I	COM	31620R303	146,099	4,666,220	SH		SOLE		3,382,805	0	1,283,415
Forward Air Corporation	COM	349853101	16,063	279,942	SH		SOLE		261,748	0	18,194
GCI Liberty, Inc. Class A	COM	36164V305	214,211	2,613,604	SH		SOLE		1,931,861	0	681,743
General Dynamics Corporation	COM	369550108	19,549	141,223	SH		SOLE		117,509	0	23,714
Genuine Parts Company	COM	372460105	24,440	256,804	SH		SOLE		210,780	0	46,024
GMS Inc.	COM	36251C103	7,122	295,533	SH		SOLE		259,365	0	36,168
GrafTech International Ltd.	COM	384313508	49,376	7,218,733	SH		SOLE		6,933,604	0	285,129
Grupo Aeroportuario del Centro	COM	400501102	380	10,329	SH		SOLE		10,329	0	0
Harsco Corporation	COM	415864107	34,098	2,451,355	SH		SOLE		2,366,994	0	84,361
Hawaiian Electric Industries,	COM	419870100	456	13,713	SH		SOLE		13,713	0	0
HollyFrontier Corporation	COM	436106108	29,603	1,501,904	SH		SOLE		1,442,132	0	59,772
Home Depot, Inc.	COM	437076102	20,746	74,705	SH		SOLE		61,278	0	13,427
Hostess Brands, Inc. Class A	COM	44109J106	167,314	13,569,678	SH		SOLE		9,778,536	0	3,791,142
Huntington Ingalls Industries,	COM	446413106	56,627	402,323	SH		SOLE		276,413	0	125,910
IAC/InteractiveCorp.	COM	44891N109	468	3,906	SH		SOLE		3,906	0	0
IDACORP, Inc.	COM	451107106	25,583	320,188	SH		SOLE		262,796	0	57,392
Illinois Tool Works Inc.	COM	452308109	15,745	81,493	SH		SOLE		66,858	0	14,635
Ingles Markets, Incorporated C	COM	457030104	31,229	820,964	SH		SOLE		772,009	0	48,955
Insperity, Inc.	COM	45778Q107	73,034	1,115,188	SH		SOLE		1,048,413	0	66,775
Interpublic Group of Companies	COM	460690100	17,761	1,065,428	SH		SOLE		899,712	0	165,716
Iron Mountain, Inc.	COM	46284V101	34,581	1,290,828	SH		SOLE		1,064,395	0	226,433
Ituran Location and Control Lt	COM	M6158M104	12,103	869,503	SH		SOLE		799,449	0	70,054
J. Alexander's Holdings, Inc.	COM	46609J106	4,506	866,544	SH		SOLE		751,823	0	114,721
Jones Lang LaSalle Incorporate	COM	48020Q107	29,511	308,499	SH		SOLE		308,499	0	0
Kimberly-Clark Corporation	COM	494368103	45,395	307,430	SH		SOLE		251,647	0	55,783
Kinder Morgan Inc Class P	COM	49456B101	35,277	2,861,083	SH		SOLE		2,342,836	0	518,247
KKR & Co. Inc.	COM	48251W104	568	16,537	SH		SOLE		16,537	0	0
Lazard Ltd Class A	COM	G54050102	11,880	359,462	SH		SOLE		304,114	0	55,348
Liberty Broadband Corp. Class	COM	530307305	141,010	986,981	SH		SOLE		598,226	0	388,755
Liberty Latin America Ltd. Cla	COM	G9001E102	10,744	1,302,280	SH		SOLE		1,302,280	0	0
Liberty Latin America Ltd. Cla	COM	G9001E128	32,285	3,966,245	SH		SOLE		3,744,636	0	221,609
Liberty Media Corp. Series C L	COM	531229888	519	24,688	SH		SOLE		24,688	0	0
Liberty Media Corp. Series C L	COM	531229607	54,082	1,634,885	SH		SOLE		748,674	0	886,211
Liberty TripAdvisor Holdings I	COM	531465102	1,192	688,999	SH		SOLE		598,729	0	90,270
LKQ Corporation	COM	501889208	123,909	4,468,425	SH		SOLE		3,223,860	0	1,244,565
Madison Square Garden Entertai	COM	55826T102	34,517	503,973	SH		SOLE		243,382	0	260,591
Madison Square Garden Sports C	COM	55825T103	1,402	9,320	SH		SOLE		9,320	0	0
Magellan Midstream Partners, L	COM	559080106	7,002	204,741	SH		SOLE		162,668	0	42,073
Marathon Petroleum Corporation	COM	56585A102	14,771	503,446	SH		SOLE		414,016	0	89,430
Marcus & Millichap, Inc.	COM	566324109	5,456	198,261	SH		SOLE		175,103	0	23,158
McKesson Corporation	COM	58155Q103	58,505	392,834	SH		SOLE		170,211	0	222,623
Medtronic PLC	COM	G5960L103	20,956	201,654	SH		SOLE		162,036	0	39,618
Merck & Co., Inc.	COM	58933Y105	19,169	231,086	SH		SOLE		193,593	0	37,493
Molson Coors Beverage Company	COM	60871R209	237	7,053	SH		SOLE		7,053	0	0
MSC Industrial Direct Co., Inc	COM	553530106	26,619	420,661	SH		SOLE		398,471	0	22,190
Murphy USA, Inc.	COM	626755102	23,955	186,754	SH		SOLE		177,264	0	9,490
NCR Corporation	COM	62886E108	98,043	4,428,317	SH		SOLE		3,423,817	0	1,004,500
Newmark Group, Inc. Class A	COM	65158N102	7,996	1,851,023	SH		SOLE		1,781,484	0	69,539
Nielsen Holdings Plc	COM	G6518L108	26,767	1,887,657	SH		SOLE		1,887,657	0	0
NortonLifeLock Inc.	COM	668771108	19,125	917,715	SH		SOLE		750,020	0	167,695
nVent Electric plc	COM	G6700G107	20,533	1,160,716	SH		SOLE		1,115,201	0	45,515
Oaktree Specialty Lending Corp	COM	67401P108	31,611	6,531,298	SH		SOLE		6,144,956	0	386,342
Oracle Corporation	COM	68389X105	26,720	447,576	SH		SOLE		367,298	0	80,278
ORBCOMM Inc.	COM	68555P100	8,415	2,475,025	SH		SOLE		2,167,498	0	307,527
Park Aerospace Corp.	COM	70014A104	7,994	732,018	SH		SOLE		645,156	0	86,862
PBF Energy, Inc. Class A	COM	69318G106	6,823	1,199,198	SH		SOLE		1,150,059	0	49,139
PepsiCo, Inc.	COM	713448108	35,675	257,397	SH		SOLE		211,786	0	45,611
Perspecta, Inc.	COM	715347100	16,599	853,430	SH		SOLE		809,842	0	43,588
Pfizer Inc.	COM	717081103	35,553	968,756	SH		SOLE		796,252	0	172,504
Pilgrim's Pride Corporation	COM	72147K108	13,838	924,703	SH		SOLE		901,830	0	22,873
PNC Financial Services Group,	COM	693475105	29,067	264,459	SH		SOLE		217,386	0	47,073
Premier Inc. Class A	COM	74051N102	205,562	6,261,413	SH		SOLE		4,656,250	0	1,605,163
Progressive Corporation	COM	743315103	59,842	632,107	SH		SOLE		283,259	0	348,848
QUALCOMM Incorporated	COM	747525103	30,694	260,824	SH		SOLE		214,348	0	46,476
Quest Diagnostics Incorporated	COM	74834L100	17,309	151,185	SH		SOLE		126,215	0	24,970
Sabre Corp.	COM	78573M104	14,250	2,188,910	SH		SOLE		2,113,060	0	75,850
Sandstorm Gold Ltd.	COM	80013R206	339	40,115	SH		SOLE		40,115	0	0
SAP SE Sponsored ADR	COM	803054204	241	1,547	SH		SOLE		1,547	0	0
Sensient Technologies Corporat	COM	81725T100	18,476	319,984	SH		SOLE		269,836	0	50,148
SP Plus Corporation	COM	78469C103	16,539	921,374	SH		SOLE		867,917	0	53,457
Starbucks Corporation	COM	855244109	2,433	28,314	SH		SOLE		28,314	0	0
Stock Yards Bancorp, Inc.	COM	861025104	5,926	174,080	SH		SOLE		132,519	0	41,561
Target Corporation	COM	87612E106	61,861	392,965	SH		SOLE		320,965	0	72,000
Texas Pacific Land Trust	COM	882610108	369	818	SH		SOLE		818	0	0
TPI Composites, Inc.	COM	87266J104	43,079	1,487,523	SH		SOLE		1,420,744	0	66,779
Trimas Corporation	COM	896215209	21,801	956,180	SH		SOLE		889,148	0	67,032
TriNet Group, Inc.	COM	896288107	13,502	227,613	SH		SOLE		220,795	0	6,818
Truist Financial Corporation	COM	89832Q109	42,807	1,125,026	SH		SOLE		919,113	0	205,913
U.S. Bancorp	COM	902973304	37,948	1,058,508	SH		SOLE		872,900	0	185,608
UniFirst Corporation	COM	904708104	157,045	829,305	SH		SOLE		607,762	0	221,543
Unilever PLC Sponsored ADR	COM	904767704	51,592	836,446	SH		SOLE		687,603	0	148,843
United Parcel Service, Inc. Cl	COM	911312106	69,158	415,041	SH		SOLE		339,300	0	75,741
UnitedHealth Group Incorporate	COM	91324P102	52,149	167,269	SH		SOLE		74,726	0	92,543
US Ecology, Inc.	COM	91734M103	30,419	931,104	SH		SOLE		884,797	0	46,307
Valero Energy Corporation	COM	91913Y100	9,826	226,814	SH		SOLE		192,581	0	34,233
Verizon Communications Inc.	COM	92343V104	60,469	1,016,459	SH		SOLE		827,901	0	188,558
Viad Corp	COM	92552R406	28,595	1,372,772	SH		SOLE		1,320,852	0	51,920
Vonage Holdings Corp.	COM	92886T201	38,650	3,778,152	SH		SOLE		3,624,543	0	153,609
Walgreens Boots Alliance Inc	COM	931427108	12,012	334,420	SH		SOLE		275,932	0	58,488
Webster Financial Corporation	COM	947890109	3,253	123,177	SH		SOLE		107,895	0	15,282
White Mountains Insurance Grou	COM	G9618E107	96,670	124,095	SH		SOLE		119,221	0	4,874
Whole Earth Brands Inc Class A	COM	96684W100	21,402	2,566,196	SH		SOLE		2,376,981	0	189,215
Williams Companies, Inc.	COM	969457100	27,229	1,385,690	SH		SOLE		1,151,868	0	233,822
World Fuel Services Corporatio	COM	981475106	56,983	2,689,159	SH		SOLE		1,748,353	0	940,806
Yelp Inc	COM	985817105	30,034	1,494,968	SH		SOLE		1,428,748	0	66,220