Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	Molson Coors Brewing Co	296,339	$14.86M	3.4%	—	—	COM	60871r209
PEP	Pepsico Inc.	177,947	$14.15M	3.3%	—	—	COM	713448108
PM	Philip Morris International	158,439	$13.72M	3.2%	—	—	COM	718172109
BK	Bank of New York Mellon Corp	355,754	$10.74M	2.5%	—	—	COM	064058100
KR	Kroger Co.	246,234	$9.933M	2.3%	—	—	COM	501044101
BP	BP p.l.c.	233,992	$9.835M	2.3%	—	—	COM	055622104
TELFY	Telefonica S.A. ADR	632,400	$9.79M	2.3%	—	—	FOR	879382208
—	Unitedhealth Group Inc.	130,405	$9.338M	2.2%	—	—	COM	91324p102
—	Hospira Inc.	232,930	$9.136M	2.1%	—	—	COM	441060100
—	America Movil ADR	460,019	$9.113M	2.1%	—	—	COM	02364W105
MSFT	Microsoft Corp.	254,422	$8.467M	2.0%	—	—	COM	594918104
JNJ	Johnson & Johnson	97,577	$8.459M	2.0%	—	—	COM	478160104
HRB	H & R Block Inc.	311,400	$8.302M	1.9%	—	—	COM	093671105
—	Merck & Co.Inc. New	171,049	$8.143M	1.9%	—	—	COM	58933y105
BEN	Franklin Resources Inc.	160,275	$8.102M	1.9%	—	—	COM	354613101
—	Medtronic Inc.	151,720	$8.079M	1.9%	—	—	COM	585055106
—	Zimmer Holdings	97,852	$8.038M	1.9%	—	—	COM	98956p102
—	The Travelers Companies Inc.	88,716	$7.52M	1.7%	—	—	COM	89417e109
WMT	Wal Mart Stores	101,134	$7.48M	1.7%	—	—	COM	931142103
PG	Procter & Gamble Co.	95,141	$7.192M	1.7%	—	—	COM	742718109
—	Health Mgmt Assoc.	544,342	$6.968M	1.6%	—	—	COM	421933102
—	Weight Watchers Intl. Inc.	182,898	$6.835M	1.6%	—	—	COM	948626106
WU	Western Union Company	365,587	$6.822M	1.6%	—	—	COM	959802109
MRSH	Marsh & McLennan Co.	131,971	$5.747M	1.3%	—	—	COM	571748102
—	Unilever NV New York Shs	151,834	$5.727M	1.3%	—	—	COM	904784709
—	Glaxo SmithKline PLC	112,720	$5.655M	1.3%	—	—	COM	37733W105
GLW	Corning Inc	384,951	$5.616M	1.3%	—	—	COM	219350105
CVS	CVS Caremark Corp	98,522	$5.591M	1.3%	—	—	COM	126650100
—	Mastercard Inc.	8,011	$5.39M	1.2%	—	—	COM	57636q104
—	Wellpoint Inc.	63,471	$5.307M	1.2%	—	—	COM	94973v107
—	Altria Group Inc.	151,098	$5.19M	1.2%	—	—	COM	02209s103
—	Express Scripts Inc.	78,174	$4.831M	1.1%	—	—	COM	30219g108
—	Apollo Group	231,904	$4.826M	1.1%	—	—	COM	037604105
PFE	Pfizer Inc.	166,874	$4.793M	1.1%	—	—	COM	717081103
KO	Coca-Cola Company	123,864	$4.692M	1.1%	—	—	COM	191216100
BDX	Becton Dickinson & Co	44,100	$4.411M	1.0%	—	—	COM	075887109
—	Avon Products Inc.	211,266	$4.352M	1.0%	—	—	COM	054303102
—	Dr. Pepper Snapple Group	96,587	$4.329M	1.0%	—	—	COM	26138e109
AFL	AFLAC Inc.	68,620	$4.254M	1.0%	—	—	COM	001055102
ORCL	Oracle Corp	127,045	$4.214M	1.0%	—	—	COM	68389X105
BAC	Bank of America Corp	290,538	$4.009M	0.9%	—	—	COM	060505104
CVX	Chevron Corp.	32,128	$3.904M	0.9%	—	—	COM	166764100
—	Dow Chemical Company	98,772	$3.793M	0.9%	—	—	COM	260543103
—	Quest Diagnostics Inc.	61,050	$3.772M	0.9%	—	—	COM	74834l100
—	Coach Inc.	68,750	$3.749M	0.9%	—	—	COM	189754104
PAYX	Paychex Inc.	91,093	$3.702M	0.9%	—	—	COM	704326107
CPF	Central Pacific Financial Co	208,572	$3.692M	0.9%	—	—	COM	154760409
—	AbbVie, Inc.	80,440	$3.598M	0.8%	—	—	COM	00287y109
—	Comcast Corp Cl A	69,093	$3.117M	0.7%	—	—	COM	20030n101
—	E. I. Du Pont De Nemours	51,800	$3.033M	0.7%	—	—	COM	263534109
AGCO	AGCO Corp	47,765	$2.886M	0.7%	—	—	COM	001084102
XOM	Exxon Mobil Corp	33,467	$2.88M	0.7%	—	—	COM	30231G102
—	Alliance One International	967,854	$2.816M	0.7%	—	—	COM	018772103
ABT	Abbott Laboratories	80,490	$2.671M	0.6%	—	—	COM	002824100
—	Precision Castparts Corp	11,416	$2.594M	0.6%	—	—	COM	740189105
HD	Home Depot Inc.	33,376	$2.532M	0.6%	—	—	COM	437076102
—	Berkshire Hathaway Inc. Class	21,900	$2.486M	0.6%	—	—	COM	084670207
—	Valero Energy Corp.	72,600	$2.479M	0.6%	—	—	COM	91913y100
—	Visa, Inc.	12,942	$2.473M	0.6%	—	—	COM	92826c839
—	Diageo PLC ADR	19,214	$2.442M	0.6%	—	—	COM	25243q205
—	ConocoPhillips	35,060	$2.437M	0.6%	—	—	COM	20825c104
LOW	Lowes Companies	50,170	$2.389M	0.6%	—	—	COM	548661107
—	Arcos Dorados Hldgs.	192,400	$2.28M	0.5%	—	—	FOR	g0457f107
—	American International Group	45,544	$2.215M	0.5%	—	—	COM	026874107
—	Intel Corp.	95,184	$2.182M	0.5%	—	—	COM	458140101
BTI	British American Tobacco	20,450	$2.15M	0.5%	—	—	COM	110448107
VZ	Verizon Communications	44,258	$2.066M	0.5%	—	—	COM	92343V104
—	Textainer Group Holdings Limit	53,800	$2.037M	0.5%	—	—	COM	g8766e109
MDLZ	Mondelez International, Inc.	60,545	$1.902M	0.4%	—	—	COM	609207105
MCD	McDonalds Corp	19,704	$1.896M	0.4%	—	—	COM	580135101
—	Waddell & Reed Financial	35,008	$1.802M	0.4%	—	—	COM	930059100
UPS	United Parcel Service Inc.	19,318	$1.765M	0.4%	—	—	COM	911312106
BA	Boeing Company	14,147	$1.662M	0.4%	—	—	COM	097023105
—	DirecTV	27,473	$1.642M	0.4%	—	—	COM	25459a309
—	CST Brands, Inc.	52,608	$1.568M	0.4%	—	—	COM	12646r105
BAX	Baxter International Inc.	22,981	$1.51M	0.3%	—	—	COM	071813109
—	AT & T, Inc. New	43,735	$1.479M	0.3%	—	—	COM	00206r102
NKE	Nike Inc Class B	20,076	$1.458M	0.3%	—	—	COM	654106103
—	Costco Wholesale Corp	12,395	$1.427M	0.3%	—	—	COM	22160k105
LINC	Lincoln Educational	288,095	$1.328M	0.3%	—	—	COM	533535100
—	Legg Mason Inc.	38,520	$1.288M	0.3%	—	—	COM	524901105
NWL	Newell Rubbermaid Inc.	46,450	$1.277M	0.3%	—	—	COM	651229106
—	Alkermes PLC	37,951	$1.276M	0.3%	—	—	COM	g01767105
—	Oi SA Preferred ADR	666,763	$1.227M	0.3%	—	—	FOR	670851203
RIG	Transocean LTD.	27,471	$1.222M	0.3%	—	—	COM	H8817H100
—	Unum Group	38,604	$1.175M	0.3%	—	—	COM	91529y106
—	Time Warner Inc.	16,959	$1.116M	0.3%	—	—	COM	887317303
YUM	Yum! Brands, Inc.	15,472	$1.105M	0.3%	—	—	COM	988498101
—	Raytheon Company	13,800	$1.064M	0.2%	—	—	COM	755111507
—	Viacom Inc. Class B	12,550	$1.049M	0.2%	—	—	COM	92553p201
PSX	Phillips 66	17,477	$1.011M	0.2%	—	—	COM	718546104
—	General Electric Co.	42,172	$1.007M	0.2%	—	—	COM	369604103
—	Kraft Foods Group, Inc	17,464	$917K	0.2%	—	—	COM	50076q106
ADP	Automatic Data Processing	12,295	$890K	0.2%	—	—	COM	053015103
—	Monster Beverage Corp.	15,600	$815K	0.2%	—	—	COM	611740101
—	PRGX Global Inc	129,729	$812K	0.2%	—	—	COM	69357c503
NEM	Newmont Mining Corp	28,775	$809K	0.2%	—	—	COM	651639106
—	Ingersoll Rand Co	11,950	$776K	0.2%	—	—	COM	g47791101
—	LyondellBasell Industries N.V.	10,500	$769K	0.2%	—	—	FOR	n53745100
—	ManpowerGroup Inc.	10,250	$746K	0.2%	—	—	COM	56418h100
MCY	Mercury General Corp	15,245	$736K	0.2%	—	—	COM	589400100
—	Apache Corp	8,100	$690K	0.2%	—	—	COM	037411105
—	Bridgepoint Education Inc.	37,024	$668K	0.2%	—	—	COM	10807m105
—	Interpublic Group	38,331	$659K	0.2%	—	—	COM	460690100
—	SK Telecom ADR	28,040	$637K	0.1%	—	—	FOR	78440p108
AXP	American Express Co.	8,268	$624K	0.1%	—	—	COM	025816109
USB	US Bancorp Delaware New	16,960	$620K	0.1%	—	—	COM	902973304
WM	Waste Management Inc. Del	13,780	$568K	0.1%	—	—	COM	94106L109
KELYA	Kelley Services,Inc.	28,428	$553K	0.1%	—	—	COM	488152208
AAPL	Apple Computer Inc.	1,075	$513K	0.1%	—	—	COM	037833100
WAFD	Washington Federal	24,826	$513K	0.1%	—	—	COM	938824109
—	Gruma SA ADR	22,887	$508K	0.1%	—	—	FOR	400131306
—	Twenty-First Century Fox Cl A	13,290	$445K	0.1%	—	—	COM	90130a101
UTI	Universal Technical Institute	35,883	$435K	0.1%	—	—	COM	913915104
SBUX	Starbucks Corp	5,477	$422K	0.1%	—	—	COM	855244109
—	Coca-Cola Hellenic Btlng. ADR	13,200	$394K	0.1%	—	—	FOR	1912ep104
—	Hewlett Packard	17,758	$373K	0.1%	—	—	COM	428236103
—	PetroChina Company Limited ADR	3,350	$368K	0.1%	—	—	FOR	71646e100
DIS	Walt Disney Holding Co.	5,231	$337K	0.1%	—	—	COM	254687106
—	AETNA Inc.	5,239	$335K	0.1%	—	—	COM	00817y108
—	Plum Creek Timber Company	7,135	$334K	0.1%	—	—	COM	729251108
ANDE	Andersons Inc.	4,577	$320K	0.1%	—	—	COM	034164103
—	ITT Educational Services	10,000	$310K	0.1%	—	—	COM	45068b109
—	Petroleo Brasileiro SA	19,700	$305K	0.1%	—	—	COM	71654v408
COLM	Columbia Sportswear Co.	5,004	$301K	0.1%	—	—	COM	198516106
—	Citigroup Inc.	6,159	$299K	0.1%	—	—	COM	172967101
—	FirstService Corporation	7,460	$289K	0.1%	—	—	COM	33761N109
CSCO	Cisco Sys Inc.	11,644	$273K	0.1%	—	—	COM	17275R102
BMY	Bristol Myers Squibb Co.	5,782	$268K	0.1%	—	—	COM	110122108
QCOM	Qualcomm Inc	3,827	$258K	0.1%	—	—	COM	747525103
VALU	Value Line Inc.	28,690	$253K	0.1%	—	—	COM	920437100
—	Discovery Communications Serie	2,866	$242K	0.1%	—	—	COM	25470f104
—	Nordstrom Inc.	4,097	$230K	0.1%	—	—	COM	655664100
—	Ameriprise Financial Inc.	2,498	$228K	0.1%	—	—	COM	03076c106
—	Discovery Communications Serie	2,866	$224K	0.1%	—	—	COM	25470F302
—	Vale S.A.	14,000	$219K	0.1%	—	—	FOR	91912e105
—	Liberty Media Corp A	1,474	$217K	0.1%	—	—	COM	531229102
—	Spectra Energy Corp.	6,146	$210K	0.0%	—	—	COM	847560109
—	Safeway Inc.	6,516	$208K	0.0%	—	—	COM	786514208
—	Janus Capital Group Inc.	20,100	$171K	0.0%	—	—	COM	47102X105
—	Willbros Group, Inc	17,625	$162K	0.0%	—	—	COM	969203108
—	Oi SA ADR	55,371	$107K	0.0%	—	—	FOR	670851104
NOK	Nokia Corp Sponsored ADR	13,960	$91,000	0.0%	—	—	FOR	654902204