Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	Molson Coors Brewing Co	262,964	$19.5M	4.0%	—	—	COM	60871r209
PM	Philip Morris International	178,479	$15.05M	3.1%	—	—	COM	718172109
PEP	Pepsico Inc.	165,229	$14.76M	3.0%	—	—	COM	713448108
BK	Bank of New York Mellon Corp	353,154	$13.24M	2.7%	—	—	COM	064058100
BP	BP p.l.c.	232,092	$12.24M	2.5%	—	—	COM	055622104
KR	Kroger Co.	245,834	$12.15M	2.5%	—	—	COM	501044101
TELFY	Telefonica S.A. ADR	681,490	$11.69M	2.4%	—	—	FOR	879382208
—	Unitedhealth Group Inc.	137,995	$11.28M	2.3%	—	—	COM	91324p102
MSFT	Microsoft Corp.	253,682	$10.58M	2.2%	—	—	COM	594918104
—	America Movil ADR	493,019	$10.23M	2.1%	—	—	COM	02364W105
HRB	H & R Block Inc.	295,240	$9.896M	2.0%	—	—	COM	093671105
JNJ	Johnson & Johnson	94,101	$9.845M	2.0%	—	—	COM	478160104
—	Zimmer Holdings	93,417	$9.702M	2.0%	—	—	COM	98956p102
—	Medtronic Inc.	149,320	$9.521M	1.9%	—	—	COM	585055106
BEN	Franklin Resources Inc.	162,581	$9.404M	1.9%	—	—	COM	354613101
—	Hospira Inc.	181,463	$9.322M	1.9%	—	—	COM	441060100
—	Merck & Co.Inc. New	149,734	$8.662M	1.8%	—	—	COM	58933y105
GLW	Corning Inc	383,951	$8.428M	1.7%	—	—	COM	219350105
—	The Travelers Companies Inc.	88,426	$8.318M	1.7%	—	—	COM	89417e109
WMT	Wal Mart Stores	105,834	$7.945M	1.6%	—	—	COM	931142103
CVS	CVS Caremark Corp	98,449	$7.42M	1.5%	—	—	COM	126650100
—	Apollo Education Group, Inc.	229,054	$7.158M	1.5%	—	—	COM	037604105
WU	Western Union Company	399,126	$6.921M	1.4%	—	—	COM	959802109
—	Wellpoint Inc.	63,396	$6.822M	1.4%	—	—	COM	94973v107
MRSH	Marsh & McLennan Co.	128,421	$6.655M	1.4%	—	—	COM	571748102
—	Unilever NV New York Shs	148,384	$6.493M	1.3%	—	—	COM	904784709
—	Altria Group Inc.	149,537	$6.272M	1.3%	—	—	COM	02209s103
—	Glaxo SmithKline PLC	108,620	$5.809M	1.2%	—	—	COM	37733W105
—	Credit Suisse Group ADR	198,678	$5.636M	1.2%	—	—	COM	225401108
PG	Procter & Gamble Co.	70,103	$5.509M	1.1%	—	—	COM	742718109
ORCL	Oracle Corp	134,195	$5.439M	1.1%	—	—	COM	68389X105
—	Express Scripts Inc.	77,896	$5.401M	1.1%	—	—	COM	30219g108
—	Mastercard Inc.	72,510	$5.327M	1.1%	—	—	COM	57636q104
KO	Coca-Cola Company	123,987	$5.252M	1.1%	—	—	COM	191216100
CVX	Chevron Corp.	39,706	$5.184M	1.1%	—	—	COM	166764100
—	Dow Chemical Company	98,722	$5.08M	1.0%	—	—	COM	260543103
—	Dr. Pepper Snapple Group	83,337	$4.882M	1.0%	—	—	COM	26138e109
BDX	Becton Dickinson & Co	39,950	$4.726M	1.0%	—	—	COM	075887109
—	Quest Diagnostics Inc.	79,000	$4.637M	0.9%	—	—	COM	74834l100
BAC	Bank of America Corp	300,963	$4.626M	0.9%	—	—	COM	060505104
AFL	AFLAC Inc.	70,170	$4.368M	0.9%	—	—	COM	001055102
PFE	Pfizer Inc.	145,656	$4.323M	0.9%	—	—	COM	717081103
—	AbbVie, Inc.	73,421	$4.144M	0.8%	—	—	COM	00287y109
CPF	Central Pacific Financial Co	208,472	$4.138M	0.8%	—	—	COM	154760409
CAG	ConAgra Foods Inc.	138,205	$4.102M	0.8%	—	—	COM	205887102
—	Weight Watchers Intl. Inc.	196,073	$3.955M	0.8%	—	—	COM	948626106
—	Comcast Corp Cl A	68,886	$3.698M	0.8%	—	—	COM	20030n101
—	Valero Energy Corp.	73,500	$3.682M	0.8%	—	—	COM	91913y100
C	Citigroup Inc.	72,399	$3.41M	0.7%	—	—	COM	172967424
—	E. I. Du Pont De Nemours	51,600	$3.377M	0.7%	—	—	COM	263534109
XOM	Exxon Mobil Corp	33,122	$3.335M	0.7%	—	—	COM	30231G102
ABT	Abbott Laboratories	79,671	$3.259M	0.7%	—	—	COM	002824100
—	Intel Corp.	96,877	$2.993M	0.6%	—	—	COM	458140101
—	ConocoPhillips	34,675	$2.973M	0.6%	—	—	COM	20825c104
—	CST Brands, Inc.	84,619	$2.919M	0.6%	—	—	COM	12646r105
—	Precision Castparts Corp	11,416	$2.881M	0.6%	—	—	COM	740189105
—	Berkshire Hathaway Inc. Class	21,900	$2.772M	0.6%	—	—	COM	084670207
AGCO	AGCO Corp	47,555	$2.674M	0.5%	—	—	COM	001084102
—	Avon Products Inc.	176,661	$2.581M	0.5%	—	—	COM	054303102
HD	Home Depot Inc.	31,191	$2.525M	0.5%	—	—	COM	437076102
—	American International Group	45,539	$2.486M	0.5%	—	—	COM	026874107
BTI	British American Tobacco	20,400	$2.429M	0.5%	—	—	COM	110448107
—	Diageo PLC ADR	18,624	$2.37M	0.5%	—	—	COM	25243q205
—	Visa, Inc.	11,242	$2.369M	0.5%	—	—	COM	92826c839
—	Alliance One International	934,504	$2.336M	0.5%	—	—	COM	018772103
—	DirecTV	27,373	$2.327M	0.5%	—	—	COM	25459a309
—	Coach Inc.	67,400	$2.304M	0.5%	—	—	COM	189754104
—	Waddell & Reed Financial	35,008	$2.191M	0.4%	—	—	COM	930059100
—	Apache Corp	21,445	$2.158M	0.4%	—	—	COM	037411105
PAYX	Paychex Inc.	51,691	$2.148M	0.4%	—	—	COM	704326107
VZ	Verizon Communications	43,427	$2.125M	0.4%	—	—	COM	92343V104
LOW	Lowes Companies	43,470	$2.086M	0.4%	—	—	COM	548661107
—	Textainer Group Holdings Limit	52,300	$2.02M	0.4%	—	—	COM	g8766e109
—	Legg Mason Inc.	36,020	$1.848M	0.4%	—	—	COM	524901105
BAX	Baxter International Inc.	25,331	$1.831M	0.4%	—	—	COM	071813109
MCD	McDonalds Corp	17,704	$1.784M	0.4%	—	—	COM	580135101
BA	Boeing Company	13,147	$1.673M	0.3%	—	—	COM	097023105
CSCO	Cisco Sys Inc.	64,603	$1.605M	0.3%	—	—	COM	17275R102
MDLZ	Mondelez International, Inc.	42,563	$1.601M	0.3%	—	—	COM	609207105
CYH	Community Health Systems, Inc.	35,081	$1.592M	0.3%	—	—	COM	203668108
—	AT & T, Inc. New	43,123	$1.525M	0.3%	—	—	COM	00206r102
—	Arcos Dorados Hldgs.	132,800	$1.487M	0.3%	—	—	FOR	g0457f107
—	Alkermes PLC	28,851	$1.452M	0.3%	—	—	COM	g01767105
—	Costco Wholesale Corp	12,397	$1.428M	0.3%	—	—	COM	22160k105
PSX	Phillips 66	17,235	$1.386M	0.3%	—	—	COM	718546104
UPS	United Parcel Service Inc.	13,323	$1.368M	0.3%	—	—	COM	911312106
—	Unum Group	38,604	$1.342M	0.3%	—	—	COM	91529y106
LINC	Lincoln Educational	287,095	$1.289M	0.3%	—	—	COM	533535100
—	Raytheon Company	13,800	$1.273M	0.3%	—	—	COM	755111507
YUM	Yum! Brands, Inc.	15,472	$1.256M	0.3%	—	—	COM	988498101
RIG	Transocean LTD.	27,471	$1.237M	0.3%	—	—	COM	H8817H100
—	Time Warner Inc.	16,926	$1.189M	0.2%	—	—	COM	887317303
—	General Electric Co.	43,672	$1.148M	0.2%	—	—	COM	369604103
—	General Motors Company	30,330	$1.101M	0.2%	—	—	COM	37045v100
—	Viacom Inc. Class B	12,550	$1.088M	0.2%	—	—	COM	92553p201
—	LyondellBasell Industries N.V.	10,500	$1.025M	0.2%	—	—	FOR	n53745100
ADP	Automatic Data Processing	11,950	$947K	0.2%	—	—	COM	053015103
—	Monster Beverage Corp.	13,100	$930K	0.2%	—	—	COM	611740101
BRC	Brady Corp	29,150	$871K	0.2%	—	—	COM	104674106
—	Kraft Foods Group, Inc	13,611	$816K	0.2%	—	—	COM	50076q106
NKE	Nike Inc Class B	10,326	$801K	0.2%	—	—	COM	654106103
AXP	American Express Co.	8,268	$784K	0.2%	—	—	COM	025816109
—	Ingersoll Rand Co	11,950	$747K	0.2%	—	—	COM	g47791101
USB	US Bancorp Delaware New	16,810	$728K	0.1%	—	—	COM	902973304
MCY	Mercury General Corp	14,795	$696K	0.1%	—	—	COM	589400100
NEM	Newmont Mining Corp	26,875	$684K	0.1%	—	—	COM	651639106
—	Interpublic Group	33,226	$648K	0.1%	—	—	COM	460690100
—	Vitamin Shoppe, Inc.	13,960	$601K	0.1%	—	—	COM	92849E101
—	Hewlett Packard	17,208	$580K	0.1%	—	—	COM	428236103
AAPL	Apple Computer Inc.	6,125	$569K	0.1%	—	—	COM	037833100
WAFD	Washington Federal	24,826	$557K	0.1%	—	—	COM	938824109
—	Royal Dutch Shell PLC	6,153	$507K	0.1%	—	—	FOR	780259206
—	ManpowerGroup Inc.	5,750	$488K	0.1%	—	—	COM	56418h100
KELYA	Kelley Services,Inc.	28,428	$488K	0.1%	—	—	COM	488152208
—	Laboratory Corp. of America	4,630	$474K	0.1%	—	—	COM	50540r409
—	Twenty-First Century Fox Cl A	13,290	$467K	0.1%	—	—	COM	90130a101
DIS	Walt Disney Holding Co.	5,231	$449K	0.1%	—	—	COM	254687106
—	AETNA Inc.	5,239	$425K	0.1%	—	—	COM	00817y108
SBUX	Starbucks Corp	5,477	$424K	0.1%	—	—	COM	855244109
—	PetroChina Company Limited ADR	3,250	$408K	0.1%	—	—	FOR	71646e100
—	Gruma SA ADR	8,328	$398K	0.1%	—	—	FOR	400131306
—	FirstService Corporation	7,460	$377K	0.1%	—	—	COM	33761N109
ANDE	Andersons Inc.	6,115	$315K	0.1%	—	—	COM	034164103
—	SK Telecom ADR	11,674	$303K	0.1%	—	—	FOR	78440p108
QCOM	Qualcomm Inc	3,827	$303K	0.1%	—	—	COM	747525103
—	Plum Creek Timber Company	6,710	$303K	0.1%	—	—	COM	729251108
—	Ameriprise Financial Inc.	2,498	$300K	0.1%	—	—	COM	03076c106
—	Coca-Cola Hellenic Btlng. ADR	13,200	$300K	0.1%	—	—	FOR	1912ep104
TM	Toyota Motor Corp ADR	2,500	$299K	0.1%	—	—	FOR	892331307
—	Petroleo Brasileiro SA	19,300	$282K	0.1%	—	—	COM	71654v408
—	Nordstrom Inc.	4,097	$278K	0.1%	—	—	COM	655664100
—	Spectra Energy Corp.	6,121	$260K	0.1%	—	—	COM	847560109
WM	Waste Management Inc. Del	5,780	$259K	0.1%	—	—	COM	94106L109
BMY	Bristol Myers Squibb Co.	5,043	$245K	0.1%	—	—	COM	110122108
—	Wells Fargo & Co.	4,460	$234K	0.0%	—	—	COM	949974610
—	Allegion PLC	3,968	$225K	0.0%	—	—	COM	0176j1097
—	Anadarko Petroleum Corp.	2,000	$219K	0.0%	—	—	COM	032511107
—	Willbros Group, Inc	17,625	$218K	0.0%	—	—	COM	969203108
—	Safeway Inc.	6,241	$214K	0.0%	—	—	COM	786514208
—	Discovery Communications Serie	2,866	$213K	0.0%	—	—	COM	25470f104
—	Discovery Communications Serie	2,866	$208K	0.0%	—	—	COM	25470F302
—	Liberty Media Corp A	1,474	$201K	0.0%	—	—	COM	531229102
VALU	Value Line Inc.	10,952	$189K	0.0%	—	—	COM	920437100
—	Vale S.A.	14,000	$185K	0.0%	—	—	FOR	91912e105
UTI	Universal Technical Institute	10,225	$124K	0.0%	—	—	COM	913915104
—	Oi SA Preferred ADR	133,720	$115K	0.0%	—	—	FOR	670851203
—	PRGX Global Inc	17,100	$109K	0.0%	—	—	COM	69357c503
NOK	Nokia Corp Sponsored ADR	13,760	$104K	0.0%	—	—	FOR	654902204
—	IsoRay, Inc.	14,218	$44,000	0.0%	—	—	COM	46489v104
—	Community Health CVR Series A	522,092	$35,000	0.0%	—	—	COM	203668116
—	Distil PLC	30,000	$1,000	0.0%	—	—	FOR	g2769h102