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
Infosys Ltd ADR 456788108 16,510 1,599,789 SH   SOLE   1,599,789 0 0
Spark Networks SE ADR 846517100 997 220,000 SH   SOLE   220,000 0 0
Unilever N.V. ADR 904784709 14,893 259,197 SH   SOLE   198,197 0 61,000
ARCOSA INC COM 039653100 18,780 421,554 SH   SOLE   421,554 0 0
Alphabet Inc. COM 02079K107 242,398 181,297 SH   SOLE   181,297 0 0
Altria Group Inc. COM 02209S103 1,123 22,500 SH   SOLE   0 0 22,500
Amerco COM 023586100 66,723 177,540 SH   SOLE   177,540 0 0
America's CAR MART Inc COM 03062T105 362 3,300 SH   SOLE   3,300 0 0
Anthem Inc. COM 036752103 192,729 638,112 SH   SOLE   638,112 0 0
BNY Mellon Corp. COM 064058100 181,368 3,603,582 SH   SOLE   3,603,582 0 0
Berkshire Hath A COM 084670108 21,394 63 SH   SOLE   33 0 30
Berkshire Hath B COM 084670702 30,031 132,589 SH   SOLE   107,659 0 24,930
Booking Hldgs Inc. Com COM 09857L108 435,723 212,162 SH   SOLE   212,162 0 0
CH Robinson WW COM 12541W209 289 3,700 SH   SOLE   0 0 3,700
Charles Schwab Corp COM 808513105 1,627 34,200 SH   SOLE   0 0 34,200
Cisco Systems Inc. COM 17275R102 215,095 4,484,881 SH   SOLE   4,439,481 0 45,400
Clorox Company COM 189054109 9,074 59,097 SH   SOLE   34,275 0 24,822
Coca-Cola Co. COM 191216100 521,106 9,414,745 SH   SOLE   9,295,845 0 118,900
Cognizant Technology Solutions COM 192446102 167,827 2,706,022 SH   SOLE   2,706,022 0 0
Colgate-Palmolive COM 194162103 86,525 1,256,900 SH   SOLE   1,200,000 0 56,900
Comcast Cl A COM 20030N101 67,693 1,505,300 SH   SOLE   1,451,000 0 54,300
ConocoPhillips COM 20825C104 92,967 1,429,605 SH   SOLE   1,428,855 0 750
Corning Inc. COM 219350105 35,514 1,219,987 SH   SOLE   1,219,987 0 0
Exxon Mobil Corp. COM 30231G102 89,977 1,289,440 SH   SOLE   1,289,040 0 400
Fox Corp A COM 35137L105 153,291 4,135,190 SH   SOLE   4,086,828 0 48,362
Fox Corp B COM 35137L204 305,022 8,379,718 SH   SOLE   8,336,487 0 43,231
Goldman Sachs Grp COM 38141G104 51,527 224,100 SH   SOLE   224,100 0 0
Graftech International LTD COM 384313508 26,460 2,277,100 SH   SOLE   2,277,100 0 0
Hershey Co. COM 427866108 1,352 9,200 SH   SOLE   0 0 9,200
Johnson & Johnson COM 478160104 542,670 3,720,231 SH   SOLE   3,690,061 0 30,170
MSC Industrial Direct Co. COM 553530106 14,468 184,377 SH   SOLE   184,377 0 0
Macy's Inc. COM 55616P104 415,582 24,445,989 SH   SOLE   24,445,989 0 0
Micron Technology Inc COM 595112103 26,341 489,787 SH   SOLE   489,787 0 0
Microsoft Corp. COM 594918104 411,845 2,611,570 SH   SOLE   2,565,160 0 46,410
News Corp Cl A COM 65249B109 245,810 17,384,012 SH   SOLE   17,384,012 0 0
Oracle Corporation COM 68389X105 399,846 7,547,120 SH   SOLE   7,547,120 0 0
Otelco Inc. COM 688823301 341 34,031 SH   SOLE   34,031 0 0
PepsiCo, Inc. COM 713448108 607,248 4,443,169 SH   SOLE   4,374,019 0 69,150
PepsiCo, Inc. COM 713448108 246 1,800 SH   OTR   0 0 1,800
Philip Morris Intl COM 718172109 2,000 23,501 SH   SOLE   0 0 23,501
Philip Morris Intl COM 718172109 113 1,325 SH   OTR   0 0 1,325
Procter & Gamble COM 742718109 621,947 4,979,559 SH   SOLE   4,898,009 0 81,550
Reading International, Inc. COM 755408101 3,558 318,000 SH   SOLE   308,000 0 10,000
SPDR S&P 500 ETF COM 78462F103 2,255 7,007 SH   SOLE   7,007 0 0
State Street Corp COM 857477103 314,586 3,977,073 SH   SOLE   3,977,073 0 0
Stryker Corporation COM 863667101 5,403 25,734 SH   SOLE   25,734 0 0
Sysco Corporation COM 871829107 325,364 3,803,650 SH   SOLE   3,738,950 0 64,700
U.S. Bancorp COM 902973304 267,492 4,511,591 SH   SOLE   4,498,292 0 13,299
Walt Disney Company COM 254687106 547,677 3,786,745 SH   SOLE   3,729,200 0 57,545
Wells Fargo & Co COM 949746101 108,543 2,017,531 SH   SOLE   1,973,231 0 44,300