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
Expires:	Oct 31, 2018
Estimated average burden
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
AbbVie, Inc.	COM	00287Y109	19,548,022	120,958	SH		SOLE		102,167	0	18,791
ACI Worldwide, Inc.	COM	004498101	81,598,319	3,547,753	SH		SOLE		3,475,667	0	72,086
Advance Auto Parts, Inc.	COM	00751Y106	120,423,598	819,041	SH		SOLE		769,985	0	49,056
AES Corporation	COM	00130H105	74,843,385	2,602,343	SH		SOLE		2,022,766	0	579,577
Air Transport Services Group,	COM	00922R105	217,480,399	8,371,070	SH		SOLE		8,002,487	0	368,583
Alight, Inc. Class A	COM	01626W101	74,666,287	8,931,374	SH		SOLE		8,746,316	0	185,058
Alphabet Inc. Class C	COM	02079K107	45,281,758	510,332	SH		SOLE		510,181	0	151
American Equity Investment Lif	COM	025676206	90,681,702	1,987,762	SH		SOLE		1,945,675	0	42,087
American Tower Corporation	COM	03027X100	23,075,156	108,917	SH		SOLE		91,766	0	17,151
Amgen Inc.	COM	031162100	19,083,685	72,661	SH		SOLE		61,151	0	11,510
Api Group Corporation	COM	00187Y100	7,873,377	418,574	SH		SOLE		418,574	0	0
Apollo Global Management Inc.	COM	03769M106	6,933,718	108,696	SH		SOLE		108,696	0	0
AptarGroup, Inc.	COM	038336103	5,769,661	52,461	SH		SOLE		52,461	0	0
Ares Management Corporation	COM	03990B101	8,845,528	129,245	SH		SOLE		129,245	0	0
Argan, Inc.	COM	04010E109	65,150,991	1,766,567	SH		SOLE		1,729,641	0	36,926
Armstrong World Industries, In	COM	04247X102	96,951,142	1,413,488	SH		SOLE		1,386,640	0	26,848
Asbury Automotive Group, Inc.	COM	043436104	97,856,518	545,922	SH		SOLE		496,202	0	49,720
Atkore Inc	COM	047649108	130,494,133	1,150,539	SH		SOLE		1,127,473	0	23,066
Axalta Coating Systems Ltd.	COM	G0750C108	54,729,019	2,148,764	SH		SOLE		2,094,788	0	53,976
Axis Capital Holdings Limited	COM	G0692U109	99,261,975	1,832,416	SH		SOLE		1,751,696	0	80,720
Barrett Business Services, Inc	COM	068463108	6,755,804	72,425	SH		SOLE		67,230	0	5,195
Bath & Body Works, Inc.	COM	070830104	4,905,686	116,414	SH		SOLE		116,414	0	0
Bausch Lomb Corporation	COM	071705107	25,625,095	1,652,166	SH		SOLE		1,652,166	0	0
Baxter International Inc.	COM	071813109	35,341,732	693,383	SH		SOLE		554,135	0	139,248
Berkshire Hathaway Inc. Class	COM	084670702	150,017,903	485,652	SH		SOLE		430,988	0	54,664
BJ's Wholesale Club Holdings,	COM	05550J101	153,974,896	2,327,311	SH		SOLE		2,162,456	0	164,855
Black Hills Corporation	COM	092113109	14,650,134	208,276	SH		SOLE		175,637	0	32,639
Blackstone Inc.	COM	09260D107	37,888,685	510,698	SH		SOLE		510,698	0	0
Bristol-Myers Squibb Company	COM	110122108	27,570,161	383,185	SH		SOLE		321,004	0	62,181
Cable One, Inc.	COM	12685J105	42,255,298	59,359	SH		SOLE		56,122	0	3,237
Caci International Inc Class A	COM	127190304	4,299,038	14,302	SH		SOLE		14,302	0	0
Cannae Holdings, Inc.	COM	13765N107	117,903,178	5,709,597	SH		SOLE		5,598,133	0	111,464
Carlisle Companies Incorporate	COM	142339100	84,430,096	358,286	SH		SOLE		333,460	0	24,826
Centene Corporation	COM	15135B101	7,663,014	93,440	SH		SOLE		93,440	0	0
Check Point Software Technolog	COM	M22465104	275,155	2,181	SH		SOLE		1,944	0	237
Chesapeake Energy Corporation	COM	165167735	22,059,365	233,754	SH		SOLE		233,754	0	0
Chubb Limited	COM	H1467J104	25,180,166	114,144	SH		SOLE		102,951	0	11,193
Cisco Systems, Inc.	COM	17275R102	18,279,516	383,701	SH		SOLE		341,069	0	42,632
CNA Financial Corporation	COM	126117100	43,406,688	1,026,648	SH		SOLE		999,936	0	26,712
Cogent Communications Holdings	COM	19239V302	17,566,427	307,751	SH		SOLE		259,462	0	48,289
Comcast Corporation Class A	COM	20030N101	52,869,674	1,511,858	SH		SOLE		1,213,860	0	297,998
Comfort Systems USA, Inc.	COM	199908104	68,172,126	592,389	SH		SOLE		578,772	0	13,617
Computer Programs and Systems,	COM	205306103	33,763,879	1,240,407	SH		SOLE		1,187,002	0	53,405
CoreCivic, Inc.	COM	21871N101	99,285,268	8,588,691	SH		SOLE		8,395,048	0	193,643
Corning Inc	COM	219350105	46,290,259	1,449,288	SH		SOLE		1,169,150	0	280,138
CSG Systems International, Inc	COM	126349109	7,531,753	131,674	SH		SOLE		111,213	0	20,461
CVS Health Corporation	COM	126650100	46,137,717	495,093	SH		SOLE		494,818	0	275
D.R. Horton, Inc.	COM	23331A109	5,694,531	63,883	SH		SOLE		63,883	0	0
Devon Energy Corporation	COM	25179M103	3,049,666	49,580	SH		SOLE		49,580	0	0
Dollar Tree, Inc.	COM	256746108	4,589,162	32,446	SH		SOLE		32,446	0	0
Dun & Bradstreet Holdings Inc	COM	26484T106	52,685,597	4,297,357	SH		SOLE		4,297,357	0	0
DXC Technology Co.	COM	23355L106	40,884,677	1,542,818	SH		SOLE		1,504,938	0	37,880
Enovis Corporation	COM	194014502	6,808,761	127,219	SH		SOLE		118,402	0	8,817
Enterprise Products Partners L	COM	293792107	10,031,074	415,882	SH		SOLE		410,589	0	5,293
EOG Resources, Inc.	COM	26875P101	40,358,173	311,598	SH		SOLE		311,598	0	0
ePlus inc.	COM	294268107	84,152,325	1,900,459	SH		SOLE		1,860,523	0	39,936
ESAB Corporation	COM	29605J106	28,273,570	602,591	SH		SOLE		587,535	0	15,056
Evercore Inc. Class A	COM	29977A105	16,432,357	150,645	SH		SOLE		147,464	0	3,181
EVERTEC, Inc.	COM	30040P103	65,922,312	2,035,896	SH		SOLE		1,984,301	0	51,595
Evolution Petroleum Corporatio	COM	30049A107	8,934,368	1,183,360	SH		SOLE		1,089,202	0	94,158
Expedia Group, Inc.	COM	30212P303	4,176,242	47,674	SH		SOLE		47,674	0	0
Expeditors International Of Wa	COM	302130109	4,954,282	47,674	SH		SOLE		47,674	0	0
Ferguson Plc	COM	G3421J106	58,846,913	463,471	SH		SOLE		463,471	0	0
Fidelity National Financial, I	COM	31620R303	8,613,400	228,958	SH		SOLE		192,876	0	36,082
Fidelity National Information	COM	31620M106	8,800,891	129,711	SH		SOLE		109,137	0	20,574
Fiserv, Inc.	COM	337738108	84,226,482	833,348	SH		SOLE		749,379	0	83,969
FS KKR Capital Corp.	COM	302635206	32,026,120	1,830,064	SH		SOLE		1,767,001	0	63,063
Genuine Parts Company	COM	372460105	5,394,252	31,089	SH		SOLE		26,249	0	4,840
Genworth Financial, Inc. Class	COM	37247D106	94,689,524	17,899,721	SH		SOLE		17,483,661	0	416,060
GMS, Inc.	COM	36251C103	19,550,534	392,581	SH		SOLE		365,711	0	26,870
Hagerty Inc Class A	COM	405166109	1,427,328	169,718	SH		SOLE		169,718	0	0
HF Sinclair Corporation	COM	403949100	28,389,330	547,106	SH		SOLE		547,106	0	0
Hostess Brands, Inc. Class A	COM	44109J106	5,379,048	239,708	SH		SOLE		222,852	0	16,856
Howard Hughes Corporation	COM	44267D107	4,809,034	62,929	SH		SOLE		62,929	0	0
IAA, Inc.	COM	449253103	49,063,720	1,226,593	SH		SOLE		1,226,593	0	0
ICU Medical, Inc.	COM	44930G107	45,995,499	292,072	SH		SOLE		285,919	0	6,153
IDACORP, Inc.	COM	451107106	15,941,524	147,812	SH		SOLE		126,954	0	20,858
Ingles Markets, Incorporated C	COM	457030104	74,412,138	771,430	SH		SOLE		750,321	0	21,109
Interpublic Group of Companies	COM	460690100	12,767,365	383,289	SH		SOLE		322,932	0	60,357
iShares Russell 1000 Value ETF	COM	464287598	212,462	1,401	SH		SOLE		1,401	0	0
Itau Unibanco Holding S.A. Spo	COM	465562106	160,277	34,029	SH		SOLE		30,327	0	3,702
Ituran Location and Control Lt	COM	M6158M104	18,739,415	886,863	SH		SOLE		849,885	0	36,978
J.M. Smucker Company	COM	832696405	11,384,400	71,844	SH		SOLE		60,513	0	11,331
Kelly Services, Inc. Class A	COM	488152208	15,112,825	894,250	SH		SOLE		831,588	0	62,662
Keurig Dr Pepper Inc.	COM	49271V100	34,545,910	968,758	SH		SOLE		968,758	0	0
Kimberly-Clark Corporation	COM	494368103	22,213,723	163,637	SH		SOLE		138,190	0	25,447
Kinder Morgan Inc Class P	COM	49456B101	28,485,148	1,575,506	SH		SOLE		1,336,076	0	239,430
KKR & Co Inc	COM	48251W104	50,543,674	1,088,834	SH		SOLE		1,088,834	0	0
Kroger Co.	COM	501044101	60,447,939	1,355,943	SH		SOLE		1,103,106	0	252,837
Latham Group Inc	COM	51819L107	4,236,271	1,315,612	SH		SOLE		1,223,900	0	91,712
Leslie's, Inc.	COM	527064109	59,605,789	4,881,719	SH		SOLE		4,766,814	0	114,905
Liberty Latin America Ltd. Cla	COM	G9001E102	12,423,604	1,649,881	SH		SOLE		1,649,881	0	0
Liberty Latin America Ltd. Cla	COM	G9001E128	16,268,355	2,140,573	SH		SOLE		2,076,432	0	64,141
Liberty Media Corp. Series C L	COM	531229607	12,435,044	317,788	SH		SOLE		317,213	0	575
Lithia Motors, Inc.	COM	536797103	8,199,018	40,046	SH		SOLE		40,046	0	0
LKQ Corporation	COM	501889208	233,802,008	4,377,495	SH		SOLE		4,192,684	0	184,811
Lockheed Martin Corporation	COM	539830109	5,916,691	12,162	SH		SOLE		10,072	0	2,090
M&T Bank Corporation	COM	55261F104	14,015,842	96,621	SH		SOLE		81,243	0	15,378
M.D.C. Holdings, Inc.	COM	552676108	5,001,838	158,286	SH		SOLE		133,408	0	24,878
Madison Square Garden Sports C	COM	55825T103	40,060,905	218,518	SH		SOLE		218,518	0	0
McGrath RentCorp	COM	580589109	68,910,152	697,895	SH		SOLE		665,640	0	32,255
MDU Resources Group Inc	COM	552690109	58,221,246	1,918,960	SH		SOLE		1,918,960	0	0
Merck & Co., Inc.	COM	58933Y105	9,816,190	88,474	SH		SOLE		77,686	0	10,788
MGM Resorts International	COM	552953101	6,042,307	180,206	SH		SOLE		180,206	0	0
Micron Technology, Inc.	COM	595112103	10,802,077	216,128	SH		SOLE		182,068	0	34,060
Molson Coors Beverage Company	COM	60871R209	95,734,206	1,858,195	SH		SOLE		1,667,560	0	190,635
MSC Industrial Direct Co., Inc	COM	553530106	11,666,842	142,801	SH		SOLE		132,806	0	9,995
Murphy USA, Inc.	COM	626755102	82,671,719	295,742	SH		SOLE		288,199	0	7,543
NCR Corporation	COM	62886E108	76,262,289	3,257,680	SH		SOLE		3,189,877	0	67,803
Newmark Group, Inc. Class A	COM	65158N102	29,765,774	3,734,727	SH		SOLE		3,686,540	0	48,187
NMI Holdings, Inc. Class A	COM	629209305	42,374,395	2,027,483	SH		SOLE		1,981,817	0	45,666
NVR, Inc.	COM	62944T105	33,805,599	7,329	SH		SOLE		7,329	0	0
Oracle Corporation	COM	68389X105	71,550,619	875,344	SH		SOLE		696,138	0	179,206
Ovintiv Inc	COM	69047Q102	17,271,217	340,588	SH		SOLE		340,588	0	0
Owens Corning	COM	690742101	5,937,136	69,603	SH		SOLE		69,603	0	0
Park Aerospace Corp.	COM	70014A104	15,798,817	1,178,137	SH		SOLE		1,093,361	0	84,776
Patterson Companies Incorporat	COM	703395103	78,911,738	2,815,260	SH		SOLE		2,442,421	0	372,839
Pediatrix Medical Group, Inc.	COM	58502B106	34,740,362	2,337,844	SH		SOLE		2,288,311	0	49,533
PepsiCo, Inc.	COM	713448108	16,158,411	89,441	SH		SOLE		75,608	0	13,833
Permian Resources Corporation	COM	71424F105	79,361,756	8,442,740	SH		SOLE		8,249,650	0	193,090
Petco Health & Wellness Compan	COM	71601V105	2,422,424	255,530	SH		SOLE		255,530	0	0
Pfizer Inc.	COM	717081103	65,978,725	1,287,641	SH		SOLE		1,017,989	0	269,652
PNC Financial Services Group,	COM	693475105	11,831,127	74,909	SH		SOLE		63,158	0	11,751
Polaris Inc.	COM	731068102	46,700,582	462,382	SH		SOLE		462,382	0	0
Pool Corporation	COM	73278L105	2,306,173	7,628	SH		SOLE		7,628	0	0
Premier, Inc. Class A	COM	74051N102	196,200,371	5,608,930	SH		SOLE		5,183,389	0	425,541
Progressive Corporation	COM	743315103	29,733,034	229,227	SH		SOLE		193,476	0	35,751
Qualcomm Incorporated	COM	747525103	26,155,850	237,910	SH		SOLE		181,598	0	56,312
Radian Group Inc.	COM	750236101	48,013,245	2,517,737	SH		SOLE		2,467,284	0	50,453
Royal Gold, Inc.	COM	780287108	5,593,505	49,623	SH		SOLE		49,623	0	0
SEI Investments Company	COM	784117103	7,310,412	125,393	SH		SOLE		125,393	0	0
Sk Telecom Co Ltd Sponsored AD	COM	78440P306	204,294	9,922	SH		SOLE		8,843	0	1,079
Sleep Number Corporation	COM	83125X103	16,223,601	624,465	SH		SOLE		608,363	0	16,102
SM Energy Company	COM	78454L100	72,424,875	2,079,382	SH		SOLE		1,877,979	0	201,403
Southwest Gas Holdings, Inc.	COM	844895102	52,628,940	850,500	SH		SOLE		826,816	0	23,684
SP Plus Corporation	COM	78469C103	59,478,520	1,713,091	SH		SOLE		1,640,212	0	72,879
SS&C Technologies Holdings, In	COM	78467J100	7,718,364	148,259	SH		SOLE		148,259	0	0
St. Joe Company	COM	790148100	3,906,278	101,068	SH		SOLE		101,068	0	0
Starbucks Corporation	COM	855244109	7,318,282	73,773	SH		SOLE		73,483	0	290
STORE Capital Corporation	COM	862121100	7,165,442	223,501	SH		SOLE		188,762	0	34,739
Summit Materials, Inc. Class A	COM	86614U100	19,877,514	700,159	SH		SOLE		649,960	0	50,199
Suncor Energy Inc.	COM	867224107	30,651,021	965,995	SH		SOLE		965,995	0	0
Sysco Corporation	COM	871829107	15,675,614	205,044	SH		SOLE		172,960	0	32,084
T-Mobile US, Inc.	COM	872590104	47,342,260	338,159	SH		SOLE		338,159	0	0
Target Corporation	COM	87612E106	26,474,273	177,632	SH		SOLE		155,062	0	22,570
TD SYNNEX Corporation	COM	87162W100	122,016,503	1,288,317	SH		SOLE		1,208,181	0	80,136
Texas Instruments Incorporated	COM	882508104	14,071,457	85,168	SH		SOLE		71,629	0	13,539
Texas Pacific Land Corporation	COM	88262P102	2,259,838	964	SH		SOLE		964	0	0
TIM SA (Brazil) Sponsored ADR	COM	88706T108	273,227	23,453	SH		SOLE		20,904	0	2,549
TransUnion	COM	89400J107	53,272,019	938,714	SH		SOLE		938,714	0	0
Trimas Corporation	COM	896215209	40,778,244	1,470,016	SH		SOLE		1,418,804	0	51,212
Truist Financial Corporation	COM	89832Q109	21,525,714	500,249	SH		SOLE		421,177	0	79,072
U.S. Bancorp	COM	902973304	97,465,210	2,234,928	SH		SOLE		1,958,277	0	276,651
UniFirst Corporation	COM	904708104	181,115,518	938,471	SH		SOLE		886,586	0	51,885
Unilever PLC Sponsored ADR	COM	904767704	46,689,505	927,299	SH		SOLE		695,082	0	232,217
United Parcel Service, Inc. Cl	COM	911312106	59,945,943	344,834	SH		SOLE		269,623	0	75,211
UnitedHealth Group Incorporate	COM	91324P102	15,103,238	28,487	SH		SOLE		28,487	0	0
Univar Solutions Inc.	COM	91336L107	79,694,711	2,506,123	SH		SOLE		2,457,848	0	48,275
Valaris Ltd.	COM	G9460G101	4,762,882	70,436	SH		SOLE		70,436	0	0
Verizon Communications Inc.	COM	92343V104	24,743,515	628,008	SH		SOLE		527,110	0	100,898
Verra Mobility Corp. Class A	COM	92511U102	8,716,261	630,243	SH		SOLE		620,202	0	10,041
Viad Corp	COM	92552R406	31,678,610	1,298,836	SH		SOLE		1,254,605	0	44,231
Visa Inc. Class A	COM	92826C839	37,602,690	180,991	SH		SOLE		180,991	0	0
Vistra Corp.	COM	92840M102	100,340,348	4,325,015	SH		SOLE		3,891,948	0	433,067
Vontier Corp	COM	928881101	65,684,616	3,398,066	SH		SOLE		3,321,219	0	76,847
Watsco, Inc.	COM	942622200	15,164,268	60,803	SH		SOLE		51,268	0	9,535
Weatherford International Plc	COM	G48833118	2,718,822	53,394	SH		SOLE		53,394	0	0
WEX Inc.	COM	96208T104	91,514,553	559,209	SH		SOLE		509,736	0	49,473
White Mountains Insurance Grou	COM	G9618E107	197,190,132	139,423	SH		SOLE		133,156	0	6,267
Williams Companies, Inc.	COM	969457100	29,172,825	886,712	SH		SOLE		751,072	0	135,640
Willis Towers Watson Public Li	COM	G96629103	97,329,877	397,947	SH		SOLE		359,417	0	38,530
World Fuel Services Corporatio	COM	981475106	33,230,328	1,215,892	SH		SOLE		1,193,845	0	22,047
Yelp Inc	COM	985817105	55,031,073	2,012,841	SH		SOLE		1,971,869	0	40,972