Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	Molson Coors Brewing Co	296,339	$16.64M	3.5%	—	—	COM	60871r209
PM	Philip Morris International	177,424	$15.46M	3.3%	—	—	COM	718172109
PEP	Pepsico Inc.	172,847	$14.34M	3.0%	—	—	COM	713448108
BK	Bank of New York Mellon Corp	355,754	$12.43M	2.6%	—	—	COM	064058100
BP	BP p.l.c.	234,042	$11.38M	2.4%	—	—	COM	055622104
—	America Movil ADR	480,019	$11.22M	2.4%	—	—	COM	02364W105
TELFY	Telefonica S.A. ADR	674,200	$11.02M	2.3%	—	—	FOR	879382208
—	Unitedhealth Group Inc.	139,495	$10.5M	2.2%	—	—	COM	91324p102
KR	Kroger Co.	245,934	$9.722M	2.0%	—	—	COM	501044101
MSFT	Microsoft Corp.	254,422	$9.518M	2.0%	—	—	COM	594918104
BEN	Franklin Resources Inc.	160,275	$9.253M	1.9%	—	—	COM	354613101
—	Zimmer Holdings	97,802	$9.114M	1.9%	—	—	COM	98956p102
HRB	H & R Block Inc.	311,340	$9.041M	1.9%	—	—	COM	093671105
—	Hospira Inc.	218,080	$9.002M	1.9%	—	—	COM	441060100
JNJ	Johnson & Johnson	97,452	$8.926M	1.9%	—	—	COM	478160104
—	Medtronic Inc.	151,720	$8.707M	1.8%	—	—	COM	585055106
—	Merck & Co.Inc. New	170,849	$8.551M	1.8%	—	—	COM	58933y105
—	The Travelers Companies Inc.	88,570	$8.019M	1.7%	—	—	COM	89417e109
WMT	Wal Mart Stores	101,134	$7.958M	1.7%	—	—	COM	931142103
CVS	CVS Caremark Corp	98,472	$7.048M	1.5%	—	—	COM	126650100
—	Health Mgmt Assoc.	536,042	$7.022M	1.5%	—	—	COM	421933102
PG	Procter & Gamble Co.	85,091	$6.927M	1.5%	—	—	COM	742718109
GLW	Corning Inc	384,951	$6.86M	1.4%	—	—	COM	219350105
—	Mastercard Inc.	8,011	$6.693M	1.4%	—	—	COM	57636q104
WU	Western Union Company	375,014	$6.469M	1.4%	—	—	COM	959802109
—	Weight Watchers Intl. Inc.	194,348	$6.4M	1.3%	—	—	COM	948626106
—	Apollo Education Group, Inc.	229,854	$6.28M	1.3%	—	—	COM	037604105
MRSH	Marsh & McLennan Co.	129,721	$6.273M	1.3%	—	—	COM	571748102
—	Unilever NV New York Shs	151,834	$6.108M	1.3%	—	—	COM	904784709
—	Glaxo SmithKline PLC	112,170	$5.989M	1.3%	—	—	COM	37733W105
—	Wellpoint Inc.	63,471	$5.864M	1.2%	—	—	COM	94973v107
—	Altria Group Inc.	150,998	$5.797M	1.2%	—	—	COM	02209s103
—	Express Scripts Inc.	78,174	$5.491M	1.2%	—	—	COM	30219g108
ORCL	Oracle Corp	137,045	$5.243M	1.1%	—	—	COM	68389X105
KO	Coca-Cola Company	123,864	$5.117M	1.1%	—	—	COM	191216100
PFE	Pfizer Inc.	159,324	$4.88M	1.0%	—	—	COM	717081103
BDX	Becton Dickinson & Co	44,100	$4.873M	1.0%	—	—	COM	075887109
AFL	AFLAC Inc.	68,620	$4.584M	1.0%	—	—	COM	001055102
BAC	Bank of America Corp	290,538	$4.524M	1.0%	—	—	COM	060505104
—	Dow Chemical Company	98,722	$4.383M	0.9%	—	—	COM	260543103
—	Quest Diagnostics Inc.	80,350	$4.302M	0.9%	—	—	COM	74834l100
—	Dr. Pepper Snapple Group	86,337	$4.206M	0.9%	—	—	COM	26138e109
CPF	Central Pacific Financial Co	208,572	$4.188M	0.9%	—	—	COM	154760409
—	AbbVie, Inc.	78,440	$4.142M	0.9%	—	—	COM	00287y109
CVX	Chevron Corp.	32,128	$4.013M	0.8%	—	—	COM	166764100
—	Coach Inc.	68,750	$3.859M	0.8%	—	—	COM	189754104
—	Valero Energy Corp.	72,600	$3.659M	0.8%	—	—	COM	91913y100
—	Comcast Corp Cl A	69,043	$3.588M	0.8%	—	—	COM	20030n101
—	Avon Products Inc.	207,216	$3.568M	0.8%	—	—	COM	054303102
PAYX	Paychex Inc.	75,743	$3.449M	0.7%	—	—	COM	704326107
—	E. I. Du Pont De Nemours	51,800	$3.365M	0.7%	—	—	COM	263534109
XOM	Exxon Mobil Corp	33,067	$3.346M	0.7%	—	—	COM	30231G102
ABT	Abbott Laboratories	80,490	$3.085M	0.6%	—	—	COM	002824100
—	Precision Castparts Corp	11,416	$3.074M	0.6%	—	—	COM	740189105
—	Alliance One International	958,954	$2.925M	0.6%	—	—	COM	018772103
—	CST Brands, Inc.	78,608	$2.886M	0.6%	—	—	COM	12646r105
AGCO	AGCO Corp	47,595	$2.817M	0.6%	—	—	COM	001084102
—	Visa, Inc.	12,342	$2.748M	0.6%	—	—	COM	92826c839
HD	Home Depot Inc.	32,377	$2.666M	0.6%	—	—	COM	437076102
—	Berkshire Hathaway Inc. Class	21,900	$2.596M	0.5%	—	—	COM	084670207
—	Diageo PLC ADR	19,214	$2.544M	0.5%	—	—	COM	25243q205
—	ConocoPhillips	35,060	$2.477M	0.5%	—	—	COM	20825c104
LOW	Lowes Companies	49,970	$2.476M	0.5%	—	—	COM	548661107
—	Intel Corp.	94,684	$2.458M	0.5%	—	—	COM	458140101
—	American International Group	45,544	$2.325M	0.5%	—	—	COM	026874107
—	Waddell & Reed Financial	35,008	$2.28M	0.5%	—	—	COM	930059100
BTI	British American Tobacco	20,450	$2.197M	0.5%	—	—	COM	110448107
VZ	Verizon Communications	44,258	$2.175M	0.5%	—	—	COM	92343V104
—	Textainer Group Holdings Limit	52,300	$2.104M	0.4%	—	—	COM	g8766e109
UPS	United Parcel Service Inc.	19,320	$2.03M	0.4%	—	—	COM	911312106
MDLZ	Mondelez International, Inc.	57,445	$2.028M	0.4%	—	—	COM	609207105
BA	Boeing Company	14,147	$1.931M	0.4%	—	—	COM	097023105
MCD	McDonalds Corp	19,704	$1.912M	0.4%	—	—	COM	580135101
—	DirecTV	27,473	$1.897M	0.4%	—	—	COM	25459a309
BAX	Baxter International Inc.	25,981	$1.807M	0.4%	—	—	COM	071813109
—	Arcos Dorados Hldgs.	148,800	$1.803M	0.4%	—	—	FOR	g0457f107
—	Legg Mason Inc.	38,520	$1.675M	0.4%	—	—	COM	524901105
—	Apache Corp	18,600	$1.598M	0.3%	—	—	COM	037411105
NKE	Nike Inc Class B	20,076	$1.579M	0.3%	—	—	COM	654106103
—	AT & T, Inc. New	43,735	$1.538M	0.3%	—	—	COM	00206r102
—	Costco Wholesale Corp	12,395	$1.475M	0.3%	—	—	COM	22160k105
LINC	Lincoln Educational	287,295	$1.431M	0.3%	—	—	COM	533535100
RIG	Transocean LTD.	27,471	$1.358M	0.3%	—	—	COM	H8817H100
—	Unum Group	38,604	$1.354M	0.3%	—	—	COM	91529y106
PSX	Phillips 66	17,477	$1.348M	0.3%	—	—	COM	718546104
—	Alkermes PLC	31,851	$1.295M	0.3%	—	—	COM	g01767105
—	Raytheon Company	13,800	$1.252M	0.3%	—	—	COM	755111507
—	Credit Suisse Group ADR	38,500	$1.195M	0.3%	—	—	COM	225401108
—	General Electric Co.	42,172	$1.182M	0.2%	—	—	COM	369604103
—	Time Warner Inc.	16,926	$1.18M	0.2%	—	—	COM	887317303
CAG	Conagra Foods Inc.	34,800	$1.173M	0.2%	—	—	COM	205887102
YUM	Yum! Brands, Inc.	15,472	$1.17M	0.2%	—	—	COM	988498101
—	Viacom Inc. Class B	12,550	$1.096M	0.2%	—	—	COM	92553p201
CSCO	Cisco Sys Inc.	48,044	$1.078M	0.2%	—	—	COM	17275R102
NWL	Newell Rubbermaid Inc.	32,630	$1.058M	0.2%	—	—	COM	651229106
—	Monster Beverage Corp.	15,600	$1.057M	0.2%	—	—	COM	611740101
—	Oi SA Preferred ADR	621,743	$989K	0.2%	—	—	FOR	670851203
ADP	Automatic Data Processing	12,245	$989K	0.2%	—	—	COM	053015103
BRC	Brady Corp	29,900	$925K	0.2%	—	—	COM	104674106
—	PRGX Global Inc	129,729	$872K	0.2%	—	—	COM	69357c503
—	LyondellBasell Industries N.V.	10,500	$843K	0.2%	—	—	FOR	n53745100
—	ManpowerGroup Inc.	9,700	$833K	0.2%	—	—	COM	56418h100
MCY	Mercury General Corp	15,245	$758K	0.2%	—	—	COM	589400100
AXP	American Express Co.	8,268	$750K	0.2%	—	—	COM	025816109
—	Kraft Foods Group, Inc	13,844	$746K	0.2%	—	—	COM	50076q106
—	Ingersoll Rand Co	11,950	$736K	0.2%	—	—	COM	g47791101
KELYA	Kelley Services,Inc.	28,428	$709K	0.1%	—	—	COM	488152208
USB	US Bancorp Delaware New	16,960	$685K	0.1%	—	—	COM	902973304
NEM	Newmont Mining Corp	28,775	$663K	0.1%	—	—	COM	651639106
WM	Waste Management Inc. Del	13,780	$618K	0.1%	—	—	COM	94106L109
AAPL	Apple Computer Inc.	1,075	$603K	0.1%	—	—	COM	037833100
—	Interpublic Group	33,331	$590K	0.1%	—	—	COM	460690100
WAFD	Washington Federal	24,826	$578K	0.1%	—	—	COM	938824109
—	Bridgepoint Education Inc.	29,824	$528K	0.1%	—	—	COM	10807m105
—	Hewlett Packard	17,208	$481K	0.1%	—	—	COM	428236103
—	Twenty-First Century Fox Cl A	13,290	$467K	0.1%	—	—	COM	90130a101
UTI	Universal Technical Institute	30,883	$430K	0.1%	—	—	COM	913915104
SBUX	Starbucks Corp	5,477	$429K	0.1%	—	—	COM	855244109
DIS	Walt Disney Holding Co.	5,231	$400K	0.1%	—	—	COM	254687106
—	Gruma SA ADR	12,987	$396K	0.1%	—	—	FOR	400131306
—	Coca-Cola Hellenic Btlng. ADR	13,200	$385K	0.1%	—	—	FOR	1912ep104
—	PetroChina Company Limited ADR	3,350	$368K	0.1%	—	—	FOR	71646e100
ANDE	Andersons Inc.	4,077	$364K	0.1%	—	—	COM	034164103
—	AETNA Inc.	5,239	$359K	0.1%	—	—	COM	00817y108
—	SK Telecom ADR	13,674	$337K	0.1%	—	—	FOR	78440p108
—	Plum Creek Timber Company	7,035	$327K	0.1%	—	—	COM	729251108
—	FirstService Corporation	7,460	$321K	0.1%	—	—	COM	33761N109
—	Citigroup Inc.	6,159	$321K	0.1%	—	—	COM	172967101
BMY	Bristol Myers Squibb Co.	5,782	$307K	0.1%	—	—	COM	110122108
—	Ameriprise Financial Inc.	2,498	$287K	0.1%	—	—	COM	03076c106
QCOM	Qualcomm Inc	3,827	$284K	0.1%	—	—	COM	747525103
—	Petroleo Brasileiro SA	19,300	$266K	0.1%	—	—	COM	71654v408
—	Discovery Communications Serie	2,866	$259K	0.1%	—	—	COM	25470f104
—	Nordstrom Inc.	4,097	$253K	0.1%	—	—	COM	655664100
—	Google Inc.	215	$241K	0.1%	—	—	COM	38259p508
—	Discovery Communications Serie	2,866	$240K	0.1%	—	—	COM	25470F302
—	Spectra Energy Corp.	6,121	$218K	0.0%	—	—	COM	847560109
—	Liberty Media Corp A	1,474	$216K	0.0%	—	—	COM	531229102
—	Vale S.A.	14,000	$213K	0.0%	—	—	FOR	91912e105
—	Royal Dutch Shell PLC	2,903	$207K	0.0%	—	—	FOR	780259206
—	Safeway Inc.	6,241	$203K	0.0%	—	—	COM	786514208
—	Wells Fargo & Co.	4,460	$202K	0.0%	—	—	COM	949974610
DE	Deere & Co	2,200	$201K	0.0%	—	—	COM	244199105
—	Willbros Group, Inc	17,625	$166K	0.0%	—	—	COM	969203108
VALU	Value Line Inc.	11,453	$133K	0.0%	—	—	COM	920437100
NOK	Nokia Corp Sponsored ADR	13,960	$113K	0.0%	—	—	FOR	654902204
—	Oi SA ADR	47,355	$78,000	0.0%	—	—	FOR	670851104