Dudley & Shanley 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

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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
ABM Industries	COM	000957100	7,390	257,950	SH		SOLE		257,950	0	0
Aon plc	COM	G0408V102	30,817	324,975	SH		SOLE		324,975	0	0
Beacon Roofing Supply	COM	073685109	22,241	800,040	SH		SOLE		800,040	0	0
Broadsoft, Inc.	COM	11133B409	2,217	76,400	SH		SOLE		76,400	0	0
CSX Corp.	COM	126408103	21,541	594,575	SH		SOLE		594,575	0	0
Ecolab Inc.	COM	278865100	17,633	168,700	SH		SOLE		168,700	0	0
Enersys	COM	29275Y102	19,383	314,045	SH		SOLE		314,045	0	0
Fastenal Co.	COM	311900104	22,372	470,400	SH		SOLE		470,400	0	0
Fiserv Inc.	COM	337738108	25,198	355,050	SH		SOLE		355,050	0	0
General Electric Co	COM	369604103	1,054	41,700	SH		SOLE		41,700	0	0
Hovnanian Entr.	COM	442487203	8,268	2,002,000	SH		SOLE		2,002,000	0	0
Intel Corp	COM	458140100	24,561	676,800	SH		SOLE		676,800	0	0
Intuit, Inc.	COM	461202103	17,776	192,820	SH		SOLE		192,820	0	0
Knight Transportation	COM	499064103	29,382	872,900	SH		SOLE		872,900	0	0
Linear Technology	COM	535678106	28,380	622,365	SH		SOLE		622,365	0	0
MetLife, Inc.	COM	59156R108	19,648	363,250	SH		SOLE		363,250	0	0
Mettler-Toledo Int'l	COM	592688105	24,555	81,185	SH		SOLE		81,185	0	0
NexGen Energy Ltd.	COM	65340P106	82	250,000	SH		SOLE		250,000	0	0
Paccar Inc.	COM	693718108	27,456	403,700	SH		SOLE		403,700	0	0
Quanta Services	COM	74762E102	20,612	726,025	SH		SOLE		726,025	0	0
Robert Half Int'l	COM	770323103	24,320	416,575	SH		SOLE		416,575	0	0
SM Energy Company	COM	78454L100	8,628	223,647	SH		SOLE		223,647	0	0
Toll Brothers, Inc.	COM	889478103	23,903	697,490	SH		SOLE		697,490	0	0
USG Corp	COM	903293405	27,047	966,300	SH		SOLE		966,300	0	0
Waters Corporation	COM	941848103	22,293	197,771	SH		SOLE		197,771	0	0
Watsco, Inc.	COM	942622200	235	2,200	SH		SOLE		2,200	0	0
Xylem Inc.	COM	98419M100	20,289	532,950	SH		SOLE		532,950	0	0