Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	Molson Coors Brewing Co	273,839	$16.12M	3.4%	—	—	COM	60871r209
PM	Philip Morris International	179,359	$14.68M	3.1%	—	—	COM	718172109
PEP	Pepsico Inc.	172,847	$14.43M	3.1%	—	—	COM	713448108
BK	Bank of New York Mellon Corp	355,754	$12.55M	2.7%	—	—	COM	064058100
—	Unitedhealth Group Inc.	139,445	$11.43M	2.4%	—	—	COM	91324p102
BP	BP p.l.c.	234,042	$11.26M	2.4%	—	—	COM	055622104
TELFY	Telefonica S.A. ADR	689,500	$10.89M	2.3%	—	—	FOR	879382208
KR	Kroger Co.	245,834	$10.73M	2.3%	—	—	COM	501044101
MSFT	Microsoft Corp.	254,422	$10.43M	2.2%	—	—	COM	594918104
—	America Movil ADR	488,219	$9.706M	2.1%	—	—	COM	02364W105
JNJ	Johnson & Johnson	97,237	$9.552M	2.0%	—	—	COM	478160104
—	Merck & Co.Inc. New	164,199	$9.322M	2.0%	—	—	COM	58933y105
—	Medtronic Inc.	150,720	$9.275M	2.0%	—	—	COM	585055106
—	Zimmer Holdings	95,527	$9.035M	1.9%	—	—	COM	98956p102
HRB	H & R Block Inc.	295,940	$8.934M	1.9%	—	—	COM	093671105
—	Hospira Inc.	205,530	$8.889M	1.9%	—	—	COM	441060100
BEN	Franklin Resources Inc.	160,675	$8.705M	1.9%	—	—	COM	354613101
WMT	Wal Mart Stores	107,034	$8.181M	1.7%	—	—	COM	931142103
GLW	Corning Inc	383,951	$7.994M	1.7%	—	—	COM	219350105
—	Apollo Education Group, Inc.	229,754	$7.867M	1.7%	—	—	COM	037604105
—	The Travelers Companies Inc.	88,426	$7.525M	1.6%	—	—	COM	89417e109
CVS	CVS Caremark Corp	98,799	$7.396M	1.6%	—	—	COM	126650100
WU	Western Union Company	397,114	$6.497M	1.4%	—	—	COM	959802109
PG	Procter & Gamble Co.	79,591	$6.415M	1.4%	—	—	COM	742718109
MRSH	Marsh & McLennan Co.	129,721	$6.395M	1.4%	—	—	COM	571748102
—	Wellpoint Inc.	63,446	$6.316M	1.3%	—	—	COM	94973v107
—	Unilever NV New York Shs	151,834	$6.243M	1.3%	—	—	COM	904784709
—	Mastercard Inc.	79,910	$5.969M	1.3%	—	—	COM	57636q104
—	Express Scripts Inc.	78,139	$5.867M	1.2%	—	—	COM	30219g108
—	Glaxo SmithKline PLC	109,170	$5.833M	1.2%	—	—	COM	37733W105
—	Altria Group Inc.	150,978	$5.651M	1.2%	—	—	COM	02209s103
ORCL	Oracle Corp	137,045	$5.607M	1.2%	—	—	COM	68389X105
BDX	Becton Dickinson & Co	43,450	$5.087M	1.1%	—	—	COM	075887109
BAC	Bank of America Corp	290,538	$4.997M	1.1%	—	—	COM	060505104
—	Dow Chemical Company	98,722	$4.797M	1.0%	—	—	COM	260543103
KO	Coca-Cola Company	123,987	$4.793M	1.0%	—	—	COM	191216100
CVX	Chevron Corp.	40,190	$4.779M	1.0%	—	—	COM	166764100
PFE	Pfizer Inc.	145,881	$4.686M	1.0%	—	—	COM	717081103
—	Quest Diagnostics Inc.	80,350	$4.654M	1.0%	—	—	COM	74834l100
—	Dr. Pepper Snapple Group	83,337	$4.539M	1.0%	—	—	COM	26138e109
—	Weight Watchers Intl. Inc.	217,398	$4.465M	1.0%	—	—	COM	948626106
AFL	AFLAC Inc.	68,620	$4.326M	0.9%	—	—	COM	001055102
CPF	Central Pacific Financial Co	208,572	$4.213M	0.9%	—	—	COM	154760409
—	AbbVie, Inc.	78,440	$4.032M	0.9%	—	—	COM	00287y109
—	Valero Energy Corp.	72,500	$3.85M	0.8%	—	—	COM	91913y100
—	E. I. Du Pont De Nemours	51,800	$3.476M	0.7%	—	—	COM	263534109
—	Comcast Corp Cl A	69,043	$3.455M	0.7%	—	—	COM	20030n101
—	Coach Inc.	68,750	$3.414M	0.7%	—	—	COM	189754104
XOM	Exxon Mobil Corp	33,122	$3.235M	0.7%	—	—	COM	30231G102
ABT	Abbott Laboratories	80,490	$3.1M	0.7%	—	—	COM	002824100
—	Avon Products Inc.	205,416	$3.007M	0.6%	—	—	COM	054303102
—	Precision Castparts Corp	11,416	$2.886M	0.6%	—	—	COM	740189105
—	Alliance One International	956,254	$2.792M	0.6%	—	—	COM	018772103
—	CST Brands, Inc.	87,819	$2.743M	0.6%	—	—	COM	12646r105
—	Berkshire Hathaway Inc. Class	21,900	$2.737M	0.6%	—	—	COM	084670207
—	Visa, Inc.	12,342	$2.664M	0.6%	—	—	COM	92826c839
AGCO	AGCO Corp	47,595	$2.625M	0.6%	—	—	COM	001084102
—	Waddell & Reed Financial	35,008	$2.577M	0.5%	—	—	COM	930059100
PAYX	Paychex Inc.	59,643	$2.541M	0.5%	—	—	COM	704326107
HD	Home Depot Inc.	31,303	$2.477M	0.5%	—	—	COM	437076102
—	ConocoPhillips	35,060	$2.466M	0.5%	—	—	COM	20825c104
—	Intel Corp.	94,684	$2.444M	0.5%	—	—	COM	458140101
—	Diageo PLC ADR	19,214	$2.394M	0.5%	—	—	COM	25243q205
—	American International Group	45,539	$2.277M	0.5%	—	—	COM	026874107
BTI	British American Tobacco	20,400	$2.273M	0.5%	—	—	COM	110448107
LOW	Lowes Companies	43,470	$2.126M	0.5%	—	—	COM	548661107
VZ	Verizon Communications	44,670	$2.125M	0.5%	—	—	COM	92343V104
—	DirecTV	27,473	$2.099M	0.4%	—	—	COM	25459a309
—	Textainer Group Holdings Limit	52,300	$2.002M	0.4%	—	—	COM	g8766e109
MDLZ	Mondelez International, Inc.	57,445	$1.985M	0.4%	—	—	COM	609207105
MCD	McDonalds Corp	19,704	$1.932M	0.4%	—	—	COM	580135101
—	Credit Suisse Group ADR	59,600	$1.93M	0.4%	—	—	COM	225401108
BAX	Baxter International Inc.	25,981	$1.912M	0.4%	—	—	COM	071813109
—	Legg Mason Inc.	38,520	$1.889M	0.4%	—	—	COM	524901105
—	Apache Corp	22,500	$1.866M	0.4%	—	—	COM	037411105
BA	Boeing Company	14,147	$1.775M	0.4%	—	—	COM	097023105
UPS	United Parcel Service Inc.	17,321	$1.687M	0.4%	—	—	COM	911312106
—	AT & T, Inc. New	45,135	$1.583M	0.3%	—	—	COM	00206r102
CAG	ConAgra Foods Inc.	49,105	$1.524M	0.3%	—	—	COM	205887102
CSCO	Cisco Sys Inc.	67,103	$1.504M	0.3%	—	—	COM	17275R102
—	Arcos Dorados Hldgs.	148,800	$1.5M	0.3%	—	—	FOR	g0457f107
CYH	Community Health Systems, Inc.	36,221	$1.419M	0.3%	—	—	COM	203668108
—	Costco Wholesale Corp	12,396	$1.384M	0.3%	—	—	COM	22160k105
—	Unum Group	38,604	$1.363M	0.3%	—	—	COM	91529y106
—	Raytheon Company	13,800	$1.363M	0.3%	—	—	COM	755111507
PSX	Phillips 66	17,427	$1.343M	0.3%	—	—	COM	718546104
—	Alkermes PLC	29,851	$1.316M	0.3%	—	—	COM	g01767105
NKE	Nike Inc Class B	17,576	$1.298M	0.3%	—	—	COM	654106103
YUM	Yum! Brands, Inc.	15,472	$1.166M	0.2%	—	—	COM	988498101
—	General Electric Co.	44,072	$1.141M	0.2%	—	—	COM	369604103
RIG	Transocean LTD.	27,471	$1.136M	0.2%	—	—	COM	H8817H100
—	Time Warner Inc.	16,926	$1.106M	0.2%	—	—	COM	887317303
LINC	Lincoln Educational	287,295	$1.083M	0.2%	—	—	COM	533535100
—	Viacom Inc. Class B	12,550	$1.067M	0.2%	—	—	COM	92553p201
ADP	Automatic Data Processing	12,245	$946K	0.2%	—	—	COM	053015103
—	LyondellBasell Industries N.V.	10,500	$934K	0.2%	—	—	FOR	n53745100
—	Monster Beverage Corp.	13,100	$910K	0.2%	—	—	COM	611740101
—	Oi SA Preferred ADR	620,975	$826K	0.2%	—	—	FOR	670851203
BRC	Brady Corp	29,900	$812K	0.2%	—	—	COM	104674106
—	Kraft Foods Group, Inc	13,844	$777K	0.2%	—	—	COM	50076q106
AXP	American Express Co.	8,268	$744K	0.2%	—	—	COM	025816109
USB	US Bancorp Delaware New	16,960	$727K	0.2%	—	—	COM	902973304
MCY	Mercury General Corp	15,245	$687K	0.1%	—	—	COM	589400100
—	ManpowerGroup Inc.	8,700	$686K	0.1%	—	—	COM	56418h100
—	Ingersoll Rand Co	11,950	$684K	0.1%	—	—	COM	g47791101
KELYA	Kelley Services,Inc.	28,428	$675K	0.1%	—	—	COM	488152208
NEM	Newmont Mining Corp	28,775	$674K	0.1%	—	—	COM	651639106
NWL	Newell Rubbermaid Inc.	20,230	$605K	0.1%	—	—	COM	651229106
WAFD	Washington Federal	24,826	$578K	0.1%	—	—	COM	938824109
AAPL	Apple Computer Inc.	1,075	$577K	0.1%	—	—	COM	037833100
—	Interpublic Group	33,226	$569K	0.1%	—	—	COM	460690100
—	Hewlett Packard	17,208	$557K	0.1%	—	—	COM	428236103
—	Laboratory Corp. of America	4,780	$469K	0.1%	—	—	COM	50540r409
—	Royal Dutch Shell PLC	6,403	$468K	0.1%	—	—	FOR	780259206
—	Twenty-First Century Fox Cl A	13,290	$425K	0.1%	—	—	COM	90130a101
DIS	Walt Disney Holding Co.	5,231	$419K	0.1%	—	—	COM	254687106
SBUX	Starbucks Corp	5,477	$402K	0.1%	—	—	COM	855244109
UTI	Universal Technical Institute	30,883	$400K	0.1%	—	—	COM	913915104
—	AETNA Inc.	5,239	$393K	0.1%	—	—	COM	00817y108
—	Citigroup Inc.	8,159	$388K	0.1%	—	—	COM	172967101
—	PetroChina Company Limited ADR	3,350	$363K	0.1%	—	—	FOR	71646e100
ANDE	Andersons Inc.	6,115	$362K	0.1%	—	—	COM	034164103
—	General Motors Company	10,430	$359K	0.1%	—	—	COM	37045v100
—	FirstService Corporation	7,460	$354K	0.1%	—	—	COM	33761N109
—	PRGX Global Inc	47,629	$330K	0.1%	—	—	COM	69357c503
—	Coca-Cola Hellenic Btlng. ADR	13,200	$328K	0.1%	—	—	FOR	1912ep104
QCOM	Qualcomm Inc	3,827	$302K	0.1%	—	—	COM	747525103
BMY	Bristol Myers Squibb Co.	5,782	$300K	0.1%	—	—	COM	110122108
—	Plum Creek Timber Company	7,035	$296K	0.1%	—	—	COM	729251108
—	Gruma SA ADR	8,328	$275K	0.1%	—	—	FOR	400131306
—	Ameriprise Financial Inc.	2,498	$275K	0.1%	—	—	COM	03076c106
—	SK Telecom ADR	11,674	$263K	0.1%	—	—	FOR	78440p108
—	Nordstrom Inc.	4,097	$256K	0.1%	—	—	COM	655664100
—	Petroleo Brasileiro SA	19,300	$254K	0.1%	—	—	COM	71654v408
WM	Waste Management Inc. Del	5,780	$243K	0.1%	—	—	COM	94106L109
—	Google Inc. Class C	215	$240K	0.1%	—	—	COM	38259p508
—	Discovery Communications Serie	2,866	$237K	0.1%	—	—	COM	25470f104
—	Safeway Inc.	6,241	$231K	0.0%	—	—	COM	786514208
—	Spectra Energy Corp.	6,121	$226K	0.0%	—	—	COM	847560109
—	Wells Fargo & Co.	4,460	$222K	0.0%	—	—	COM	949974610
—	Willbros Group, Inc	17,625	$222K	0.0%	—	—	COM	969203108
—	Discovery Communications Serie	2,866	$221K	0.0%	—	—	COM	25470F302
—	Allegion PLC	3,968	$207K	0.0%	—	—	COM	0176j1097
—	Vale S.A.	14,000	$194K	0.0%	—	—	FOR	91912e105
VALU	Value Line Inc.	11,453	$171K	0.0%	—	—	COM	920437100
NOK	Nokia Corp Sponsored ADR	13,960	$102K	0.0%	—	—	FOR	654902204
—	Community Health CVR Series A	523,342	$32,000	0.0%	—	—	COM	203668116
—	IsoRay, Inc.	14,218	$31,000	0.0%	—	—	COM	46489v104
—	Oi SA ADR	14,288	$21,000	0.0%	—	—	FOR	670851104