Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
PEP	Pepsico Inc.	184,447	$15.09M	3.6%	—	—	COM	713448108
—	Molson Coors Brewing Co	296,339	$14.18M	3.4%	—	—	COM	60871r209
PM	Philip Morris International	155,834	$13.5M	3.3%	—	—	COM	718172109
—	Hospira Inc.	278,504	$10.67M	2.6%	—	—	COM	441060100
BK	Bank of New York Mellon Corp	353,254	$9.909M	2.4%	—	—	COM	064058100
BP	BP p.l.c.	233,192	$9.733M	2.4%	—	—	COM	055622104
—	America Movil ADR	414,119	$9.007M	2.2%	—	—	COM	02364W105
MSFT	Microsoft Corp.	259,637	$8.969M	2.2%	—	—	COM	594918104
HRB	H & R Block Inc.	312,500	$8.672M	2.1%	—	—	COM	093671105
—	Health Mgmt Assoc.	544,342	$8.557M	2.1%	—	—	COM	421933102
KR	Kroger Co.	246,234	$8.505M	2.1%	—	—	COM	501044101
JNJ	Johnson & Johnson	97,577	$8.378M	2.0%	—	—	COM	478160104
—	Unitedhealth Group Inc.	126,905	$8.31M	2.0%	—	—	COM	91324p102
—	Merck & Co.Inc. New	171,149	$7.95M	1.9%	—	—	COM	58933y105
—	Medtronic Inc.	153,770	$7.915M	1.9%	—	—	COM	585055106
WMT	Wal Mart Stores	101,034	$7.526M	1.8%	—	—	COM	931142103
PG	Procter & Gamble Co.	97,641	$7.517M	1.8%	—	—	COM	742718109
TELFY	Telefonica S.A. ADR	573,100	$7.341M	1.8%	—	—	FOR	879382208
—	Zimmer Holdings	97,852	$7.333M	1.8%	—	—	COM	98956p102
BEN	Franklin Resources Inc.	53,425	$7.267M	1.8%	—	—	COM	354613101
—	The Travelers Companies Inc.	88,779	$7.095M	1.7%	—	—	COM	89417e109
WU	Western Union Company	365,587	$6.255M	1.5%	—	—	COM	959802109
—	Unilever NV New York Shs	151,834	$5.969M	1.4%	—	—	COM	904784709
MRSH	Marsh & McLennan Co.	141,471	$5.648M	1.4%	—	—	COM	571748102
—	Glaxo SmithKline PLC	112,870	$5.64M	1.4%	—	—	COM	37733W105
CVS	CVS Caremark Corp	98,522	$5.633M	1.4%	—	—	COM	126650100
GLW	Corning Inc	384,951	$5.478M	1.3%	—	—	COM	219350105
—	Wellpoint Inc.	63,471	$5.194M	1.3%	—	—	COM	94973v107
—	Altria Group Inc.	147,798	$5.171M	1.2%	—	—	COM	02209s103
KO	Coca-Cola Company	124,864	$5.008M	1.2%	—	—	COM	191216100
—	Mastercard Inc.	8,511	$4.89M	1.2%	—	—	COM	57636q104
—	Express Scripts Inc.	78,174	$4.826M	1.2%	—	—	COM	30219g108
—	Avon Products Inc.	223,066	$4.691M	1.1%	—	—	COM	054303102
PFE	Pfizer Inc.	166,874	$4.674M	1.1%	—	—	COM	717081103
—	Weight Watchers Intl. Inc.	98,302	$4.522M	1.1%	—	—	COM	948626106
—	Dr. Pepper Snapple Group	96,587	$4.436M	1.1%	—	—	COM	26138e109
BDX	Becton Dickinson & Co	44,100	$4.358M	1.1%	—	—	COM	075887109
—	Apollo Group	231,904	$4.109M	1.0%	—	—	COM	037604105
AFL	AFLAC Inc.	68,620	$3.988M	1.0%	—	—	COM	001055102
—	Coach Inc.	68,750	$3.925M	0.9%	—	—	COM	189754104
CVX	Chevron Corp.	32,128	$3.802M	0.9%	—	—	COM	166764100
CPF	Central Pacific Financial Co	208,572	$3.754M	0.9%	—	—	COM	154760409
BAC	Bank of America Corp	290,038	$3.73M	0.9%	—	—	COM	060505104
PAYX	Paychex Inc.	101,093	$3.691M	0.9%	—	—	COM	704326107
—	Alliance One International	968,204	$3.679M	0.9%	—	—	COM	018772103
—	AbbVie, Inc.	80,440	$3.325M	0.8%	—	—	COM	00287y109
—	Dow Chemical Company	99,472	$3.2M	0.8%	—	—	COM	260543103
XOM	Exxon Mobil Corp	34,487	$3.116M	0.8%	—	—	COM	30231G102
—	Comcast Corp Cl A	69,093	$2.885M	0.7%	—	—	COM	20030n101
ABT	Abbott Laboratories	80,490	$2.807M	0.7%	—	—	COM	002824100
HD	Home Depot Inc.	35,676	$2.764M	0.7%	—	—	COM	437076102
VZ	Verizon Communications	54,508	$2.744M	0.7%	—	—	COM	92343V104
—	E. I. Du Pont De Nemours	51,800	$2.719M	0.7%	—	—	COM	263534109
—	Precision Castparts Corp	11,416	$2.58M	0.6%	—	—	COM	740189105
—	Valero Energy Corp.	72,600	$2.524M	0.6%	—	—	COM	91913y100
—	Berkshire Hathaway Inc. Class	21,900	$2.451M	0.6%	—	—	COM	084670207
AGCO	AGCO Corp	48,165	$2.417M	0.6%	—	—	COM	001084102
—	Visa, Inc.	12,942	$2.365M	0.6%	—	—	COM	92826c839
—	Intel Corp.	93,984	$2.277M	0.6%	—	—	COM	458140101
—	Arcos Dorados Hldgs.	192,400	$2.247M	0.5%	—	—	FOR	g0457f107
—	Diageo PLC ADR	19,214	$2.209M	0.5%	—	—	COM	25243q205
—	ConocoPhillips	35,060	$2.121M	0.5%	—	—	COM	20825c104
BTI	British American Tobacco	20,450	$2.105M	0.5%	—	—	COM	110448107
—	Textainer Group Holdings Limit	53,800	$2.068M	0.5%	—	—	COM	g8766e109
LOW	Lowes Companies	50,170	$2.052M	0.5%	—	—	COM	548661107
—	American International Group	45,544	$2.036M	0.5%	—	—	COM	026874107
MCD	McDonalds Corp	19,704	$1.951M	0.5%	—	—	COM	580135101
MDLZ	Mondelez International, Inc.	60,545	$1.727M	0.4%	—	—	COM	609207105
—	DirecTV	27,473	$1.693M	0.4%	—	—	COM	25459a309
UPS	United Parcel Service Inc.	19,415	$1.679M	0.4%	—	—	COM	911312106
BAX	Baxter International Inc.	22,981	$1.592M	0.4%	—	—	COM	071813109
—	AT & T, Inc. New	43,835	$1.552M	0.4%	—	—	COM	00206r102
—	Waddell & Reed Financial	35,008	$1.523M	0.4%	—	—	COM	930059100
LINC	Lincoln Educational	280,095	$1.476M	0.4%	—	—	COM	533535100
BA	Boeing Company	14,147	$1.449M	0.4%	—	—	COM	097023105
—	Alkermes PLC	48,751	$1.398M	0.3%	—	—	COM	g01767105
—	Costco Wholesale Corp	12,394	$1.37M	0.3%	—	—	COM	22160k105
NKE	Nike Inc Class B	21,122	$1.345M	0.3%	—	—	COM	654106103
RIG	Transocean LTD.	27,471	$1.317M	0.3%	—	—	COM	H8817H100
NWL	Newell Rubbermaid Inc.	46,450	$1.219M	0.3%	—	—	COM	651229106
—	Oi SA Preferred ADR	666,763	$1.2M	0.3%	—	—	FOR	670851203
ORCL	Oracle Corp	38,745	$1.19M	0.3%	—	—	COM	68389X105
—	Unum Group	38,604	$1.134M	0.3%	—	—	COM	91529y106
ADP	Automatic Data Processing	16,295	$1.122M	0.3%	—	—	COM	053015103
YUM	Yum! Brands, Inc.	15,472	$1.073M	0.3%	—	—	COM	988498101
PSX	Phillips 66	17,477	$1.03M	0.2%	—	—	COM	718546104
—	SK Telecom ADR	48,690	$990K	0.2%	—	—	FOR	78440p108
—	Time Warner Inc.	16,959	$981K	0.2%	—	—	COM	887317303
—	Kraft Foods Group, Inc	17,464	$976K	0.2%	—	—	COM	50076q106
—	General Electric Co.	41,753	$968K	0.2%	—	—	COM	369604103
—	Monster Beverage Corp.	15,600	$949K	0.2%	—	—	COM	611740101
—	Raytheon Company	13,800	$912K	0.2%	—	—	COM	755111507
—	Viacom Inc. Class B	12,550	$854K	0.2%	—	—	COM	92553p201
—	PRGX Global Inc	129,729	$712K	0.2%	—	—	COM	69357c503
—	LyondellBasell Industries N.V.	10,500	$696K	0.2%	—	—	FOR	n53745100
MCY	Mercury General Corp	15,245	$670K	0.2%	—	—	COM	589400100
—	Ingersoll Rand Co	11,950	$663K	0.2%	—	—	COM	g47791101
—	Bridgepoint Education Inc.	53,506	$652K	0.2%	—	—	COM	10807m105
—	Apache Corp	7,700	$645K	0.2%	—	—	COM	037411105
—	Quest Diagnostics Inc.	10,550	$640K	0.2%	—	—	COM	74834l100
AXP	American Express Co.	8,268	$618K	0.1%	—	—	COM	025816109
USB	US Bancorp Delaware New	16,960	$613K	0.1%	—	—	COM	902973304
—	Legg Mason Inc.	19,520	$605K	0.1%	—	—	COM	524901105
—	Gruma SA ADR	32,587	$594K	0.1%	—	—	FOR	400131306
—	Interpublic Group	38,856	$565K	0.1%	—	—	COM	460690100
—	Manpower Inc.	10,250	$562K	0.1%	—	—	COM	56418h100
WM	Waste Management Inc. Del	13,780	$556K	0.1%	—	—	COM	94106L109
NEM	Newmont Mining Corp	18,275	$547K	0.1%	—	—	COM	651639106
KELYA	Kelley Services,Inc.	28,428	$497K	0.1%	—	—	COM	488152208
WAFD	Washington Federal	24,826	$469K	0.1%	—	—	COM	938824109
ANDE	Andersons Inc.	8,627	$459K	0.1%	—	—	COM	034164103
—	Hewlett Packard	17,933	$445K	0.1%	—	—	COM	428236103
—	News Corp Class A	13,290	$433K	0.1%	—	—	COM	65248e104
AAPL	Apple Computer Inc.	1,075	$426K	0.1%	—	—	COM	037833100
—	PetroChina Company Limited ADR	3,350	$371K	0.1%	—	—	FOR	71646e100
UTI	Universal Technical Institute	35,883	$371K	0.1%	—	—	COM	913915104
SBUX	Starbucks Corp	5,477	$359K	0.1%	—	—	COM	855244109
COLM	Columbia Sportswear Co.	5,504	$345K	0.1%	—	—	COM	198516106
—	Plum Creek Timber Company	7,285	$340K	0.1%	—	—	COM	729251108
—	AETNA Inc.	5,239	$333K	0.1%	—	—	COM	00817y108
DIS	Walt Disney Holding Co.	5,231	$330K	0.1%	—	—	COM	254687106
—	Coca-Cola Hellenic Btlng. ADR	13,200	$309K	0.1%	—	—	FOR	1912ep104
—	Citigroup Inc.	6,159	$295K	0.1%	—	—	COM	172967101
CSCO	Cisco Sys Inc.	11,644	$283K	0.1%	—	—	COM	17275R102
—	Discovery Communications Serie	3,616	$279K	0.1%	—	—	COM	25470f104
VALU	Value Line Inc.	30,813	$262K	0.1%	—	—	COM	920437100
BMY	Bristol Myers Squibb Co.	5,782	$258K	0.1%	—	—	COM	110122108
—	Discovery Communications Serie	3,616	$252K	0.1%	—	—	COM	25470F302
—	Petroleo Brasileiro SA	18,700	$251K	0.1%	—	—	COM	71654v408
—	CST Brands, Inc.	8,006	$247K	0.1%	—	—	COM	12646r105
—	ITT Educational Services	10,000	$244K	0.1%	—	—	COM	45068b109
—	Nordstrom Inc.	3,934	$236K	0.1%	—	—	COM	655664100
QCOM	Qualcomm Inc	3,871	$236K	0.1%	—	—	COM	747525103
—	FirstService Corporation	7,460	$233K	0.1%	—	—	COM	33761N109
GVA	Granite Construction Inc.	7,400	$220K	0.1%	—	—	COM	387328107
—	Spectra Energy Corp.	6,146	$212K	0.1%	—	—	COM	847560109
—	Bioscrip, Inc.	12,578	$208K	0.1%	—	—	COM	09069n108
—	Ameriprise Financial Inc.	2,498	$202K	0.0%	—	—	COM	03076c106
—	Vale S.A.	14,000	$184K	0.0%	—	—	FOR	91912e105
—	Janus Capital Group Inc.	20,100	$171K	0.0%	—	—	COM	47102X105
—	Dell Corp	11,927	$159K	0.0%	—	—	COM	24702r101
—	Oi SA ADR	55,371	$109K	0.0%	—	—	FOR	670851104
—	Willbros Group, Inc	17,625	$108K	0.0%	—	—	COM	969203108
NOK	Nokia Corp Sponsored ADR	13,960	$52,000	0.0%	—	—	FOR	654902204