Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
KR	Kroger Co.	408,988	$17.11M	3.9%	—	—	COM	501044101
PM	Philip Morris International	188,119	$16.54M	3.7%	—	—	COM	718172109
PEP	Pepsico Inc.	140,489	$14.04M	3.2%	—	—	COM	713448108
—	Unitedhealth Group Inc.	119,275	$14.03M	3.2%	—	—	COM	91324p102
—	Molson Coors Brewing Co	140,399	$13.19M	3.0%	—	—	COM	60871r209
BK	Bank of New York Mellon Corp	317,279	$13.08M	3.0%	—	—	COM	064058100
MSFT	Microsoft Corp.	214,594	$11.91M	2.7%	—	—	COM	594918104
JNJ	Johnson & Johnson	105,426	$10.83M	2.5%	—	—	COM	478160104
—	Medtronic PLC	139,273	$10.71M	2.4%	—	—	COM	g5960l103
—	The Travelers Companies Inc.	84,803	$9.571M	2.2%	—	—	COM	89417e109
—	Zimmer Biomet Holdings	83,964	$8.614M	2.0%	—	—	COM	98956p102
—	Altria Group Inc.	146,650	$8.536M	1.9%	—	—	COM	02209s103
—	Merck & Co.Inc. New	153,403	$8.103M	1.8%	—	—	COM	58933y105
ELV	Anthem, Inc.	56,244	$7.843M	1.8%	—	—	COM	036752103
—	Precision Castparts Corp	32,831	$7.617M	1.7%	—	—	COM	740189105
—	Dr. Pepper Snapple Group	75,737	$7.059M	1.6%	—	—	COM	26138e109
BP	BP p.l.c.	219,702	$6.868M	1.6%	—	—	COM	055622104
—	Mastercard Inc.	69,310	$6.748M	1.5%	—	—	COM	57636q104
—	Express Scripts Inc.	73,997	$6.468M	1.5%	—	—	COM	30219g108
—	America Movil ADR	448,919	$6.312M	1.4%	—	—	COM	02364W105
GLW	Corning Inc	340,451	$6.223M	1.4%	—	—	COM	219350105
BAC	Bank of America Corp	365,119	$6.145M	1.4%	—	—	COM	060505104
MRSH	Marsh & McLennan Co.	110,037	$6.102M	1.4%	—	—	COM	571748102
BEN	Franklin Resources Inc.	159,415	$5.87M	1.3%	—	—	COM	354613101
KO	Coca-Cola Company	134,924	$5.796M	1.3%	—	—	COM	191216100
WMT	Wal Mart Stores	91,342	$5.599M	1.3%	—	—	COM	931142103
HRB	H & R Block Inc.	166,137	$5.534M	1.3%	—	—	COM	093671105
—	Glaxo SmithKline PLC	136,032	$5.489M	1.2%	—	—	COM	37733W105
TELFY	Telefonica S.A. ADR	485,065	$5.365M	1.2%	—	—	FOR	879382208
—	Valero Energy Corp.	72,810	$5.148M	1.2%	—	—	COM	91913y100
—	Unilever NV New York Shs	118,728	$5.143M	1.2%	—	—	COM	904784709
CVS	CVS Health Corp.	52,499	$5.133M	1.2%	—	—	COM	126650100
—	Discovery Communications Serie	188,611	$5.032M	1.1%	—	—	COM	25470f104
—	Quest Diagnostics Inc.	70,270	$4.999M	1.1%	—	—	COM	74834l100
—	Dow Chemical Company	95,652	$4.924M	1.1%	—	—	COM	260543103
CAG	ConAgra Foods Inc.	109,385	$4.612M	1.0%	—	—	COM	205887102
—	Credit Suisse Group ADR	205,918	$4.466M	1.0%	—	—	COM	225401108
—	E. I. Du Pont De Nemours	66,900	$4.456M	1.0%	—	—	COM	263534109
PG	Procter & Gamble Co.	55,878	$4.437M	1.0%	—	—	COM	742718109
ORCL	Oracle Corp	119,337	$4.359M	1.0%	—	—	COM	68389X105
AFL	AFLAC Inc.	70,220	$4.206M	1.0%	—	—	COM	001055102
BDX	Becton Dickinson & Co	26,225	$4.041M	0.9%	—	—	COM	075887109
C	Citigroup Inc.	74,659	$3.864M	0.9%	—	—	COM	172967424
WU	Western Union Company	214,002	$3.833M	0.9%	—	—	COM	959802109
—	Comcast Corp Cl A	67,105	$3.787M	0.9%	—	—	COM	20030n101
HD	Home Depot Inc.	28,191	$3.728M	0.8%	—	—	COM	437076102
ABT	Abbott Laboratories	78,922	$3.544M	0.8%	—	—	COM	002824100
—	Visa, Inc.	44,048	$3.416M	0.8%	—	—	COM	92826c839
CVX	Chevron Corp.	36,643	$3.296M	0.7%	—	—	COM	166764100
—	Unum Group	93,821	$3.123M	0.7%	—	—	COM	91529y106
—	Berkshire Hathaway Inc. Class	21,705	$2.866M	0.6%	—	—	COM	084670207
LOW	Lowes Companies	36,820	$2.8M	0.6%	—	—	COM	548661107
PFE	Pfizer Inc.	86,224	$2.783M	0.6%	—	—	COM	717081103
—	American International Group	44,464	$2.755M	0.6%	—	—	COM	026874107
—	AT & T, Inc. New	77,892	$2.68M	0.6%	—	—	COM	00206r102
PAYX	Paychex Inc.	49,235	$2.604M	0.6%	—	—	COM	704326107
MCD	McDonalds Corp	21,154	$2.499M	0.6%	—	—	COM	580135101
CPF	Central Pacific Financial Co	104,947	$2.311M	0.5%	—	—	COM	154760409
BTI	British American Tobacco	20,250	$2.237M	0.5%	—	—	COM	110448107
—	Biogen Inc.	7,195	$2.204M	0.5%	—	—	COM	09062x103
—	Alkermes PLC	26,851	$2.131M	0.5%	—	—	COM	g01767105
—	Twenty-First Century Fox Cl A	75,026	$2.038M	0.5%	—	—	COM	90130a101
—	Diageo PLC ADR	18,274	$1.993M	0.5%	—	—	COM	25243q205
VZ	Verizon Communications	43,002	$1.988M	0.5%	—	—	COM	92343V104
BA	Boeing Company	12,947	$1.872M	0.4%	—	—	COM	097023105
—	Costco Wholesale Corp	11,450	$1.849M	0.4%	—	—	COM	22160k105
MDLZ	Mondelez International, Inc.	40,516	$1.817M	0.4%	—	—	COM	609207105
—	Monster Beverage Corp.	12,100	$1.802M	0.4%	—	—	COM	611740101
—	Intel Corp.	52,037	$1.793M	0.4%	—	—	COM	458140101
—	CST Brands, Inc.	43,312	$1.695M	0.4%	—	—	COM	12646r105
SJM	J.M. Smucker Co.	13,630	$1.681M	0.4%	—	—	COM	832696405
—	Raytheon Company	13,500	$1.681M	0.4%	—	—	COM	755111507
—	ConocoPhillips	34,641	$1.617M	0.4%	—	—	COM	20825c104
ALL	Allstate Corp	23,965	$1.488M	0.3%	—	—	COM	020002101
NKE	Nike Inc Class B	23,340	$1.459M	0.3%	—	—	COM	654106103
CSCO	Cisco Sys Inc.	52,895	$1.436M	0.3%	—	—	COM	17275R102
PSX	Phillips 66	17,243	$1.41M	0.3%	—	—	COM	718546104
—	St. Jude Medical Inc.	22,019	$1.36M	0.3%	—	—	COM	790849103
—	Legg Mason Inc.	32,870	$1.289M	0.3%	—	—	COM	524901105
UPS	United Parcel Service Inc.	13,331	$1.283M	0.3%	—	—	COM	911312106
XOM	Exxon Mobil Corp	16,334	$1.273M	0.3%	—	—	COM	30231G102
—	General Motors Company	35,817	$1.218M	0.3%	—	—	COM	37045v100
—	AbbVie, Inc.	20,272	$1.201M	0.3%	—	—	COM	00287y109
—	Weight Watchers Intl. Inc.	50,620	$1.154M	0.3%	—	—	COM	948626106
—	Vitamin Shoppe, Inc.	33,660	$1.101M	0.2%	—	—	COM	92849E101
—	Time Warner Inc.	16,876	$1.091M	0.2%	—	—	COM	887317303
ADP	Automatic Data Processing	12,452	$1.055M	0.2%	—	—	COM	053015103
—	Apollo Education Group, Inc.	130,929	$1.004M	0.2%	—	—	COM	037604105
—	Waddell & Reed Financial	35,008	$1.003M	0.2%	—	—	COM	930059100
AGCO	AGCO Corp	22,005	$999K	0.2%	—	—	COM	001084102
YUM	Yum! Brands, Inc.	13,347	$975K	0.2%	—	—	COM	988498101
CYH	Community Health Systems, Inc.	36,436	$967K	0.2%	—	—	COM	203668108
KHC	The Kraft Heinz Company	13,224	$962K	0.2%	—	—	COM	500754106
—	Viacom Inc. Class B	22,795	$938K	0.2%	—	—	COM	92553p201
—	Baxalta, Inc.	23,931	$934K	0.2%	—	—	COM	07177m103
—	LyondellBasell Industries N.V.	10,500	$912K	0.2%	—	—	FOR	n53745100
—	Textainer Group Holdings Limit	63,600	$897K	0.2%	—	—	COM	g8766e109
BAX	Baxter International Inc.	20,831	$795K	0.2%	—	—	COM	071813109
AAPL	Apple Computer Inc.	7,070	$744K	0.2%	—	—	COM	037833100
—	Royal Dutch Shell PLC	15,978	$732K	0.2%	—	—	FOR	780259206
DIS	Walt Disney Holding Co.	6,207	$652K	0.1%	—	—	COM	254687106
—	Ingersoll Rand Co	11,500	$636K	0.1%	—	—	COM	g47791101
LINC	Lincoln Educational	309,157	$615K	0.1%	—	—	COM	533535100
—	General Electric Co.	19,435	$605K	0.1%	—	—	COM	369604103
—	AETNA Inc.	5,315	$575K	0.1%	—	—	COM	00817y108
WAFD	Washington Federal	24,020	$572K	0.1%	—	—	COM	938824109
AXP	American Express Co.	8,018	$558K	0.1%	—	—	COM	025816109
—	Coach Inc.	15,820	$518K	0.1%	—	—	COM	189754104
USB	US Bancorp Delaware New	11,660	$498K	0.1%	—	—	COM	902973304
—	ManpowerGroup Inc.	5,450	$459K	0.1%	—	—	COM	56418h100
KELYA	Kelly Services,Inc.	28,428	$459K	0.1%	—	—	COM	488152208
SBUX	Starbucks Corp	7,554	$453K	0.1%	—	—	COM	855244109
—	Apache Corp	9,501	$423K	0.1%	—	—	COM	037411105
—	Laboratory Corp. of America	3,330	$412K	0.1%	—	—	COM	50540r409
—	Michael Kors Holdings, Ltd.	10,100	$405K	0.1%	—	—	COM	G60754101
—	Alphabet, Inc Voting Class	515	$401K	0.1%	—	—	COM	02076k305
—	Interpublic Group	17,188	$400K	0.1%	—	—	COM	460690100
—	Alliance One International	34,587	$397K	0.1%	—	—	COM	018772103
BMY	Bristol Myers Squibb Co.	4,943	$340K	0.1%	—	—	COM	110122108
CIGI	Colliers International Group	7,460	$332K	0.1%	—	—	COM	194693107
—	FirstService Corp Voting Share	7,460	$302K	0.1%	—	—	COM	33767e103
—	Plum Creek Timber Company	6,235	$298K	0.1%	—	—	COM	729251108
CCHGY	Coca-Cola HBC AG ADR Unsponsor	13,200	$277K	0.1%	—	—	FOR	191223205
WM	Waste Management Inc. Del	5,180	$276K	0.1%	—	—	COM	94106L109
—	Ameriprise Financial Inc.	2,498	$266K	0.1%	—	—	COM	03076c106
NWL	Newell Rubbermaid Inc.	5,850	$258K	0.1%	—	—	COM	651229106
TM	Toyota Motor Corp ADR	2,075	$255K	0.1%	—	—	FOR	892331307
—	Allegion PLC	3,835	$253K	0.1%	—	—	COM	0176j1097
—	Wells Fargo & Co.	4,460	$242K	0.1%	—	—	COM	949974610
—	Hewlett Packard Enterprise Co.	15,904	$242K	0.1%	—	—	COM	42824c109
—	Principal Financial Group	5,322	$239K	0.1%	—	—	COM	74251v102
GILD	Gilead Sciences Inc.	2,282	$231K	0.1%	—	—	COM	375558103
—	Discovery Communications Serie	8,598	$217K	0.0%	—	—	COM	25470F302
—	SK Telecom ADR	10,408	$210K	0.0%	—	—	FOR	78440p108
—	Arcos Dorados Hldgs.	66,798	$208K	0.0%	—	—	FOR	g0457f107
FAST	Fastenal Co.	5,100	$208K	0.0%	—	—	COM	311900104
—	Daimler A G	2,459	$206K	0.0%	—	—	COM	d1668r123
—	CDK Global, Inc.	4,288	$204K	0.0%	—	—	COM	12508e101
—	Nordstrom Inc.	4,078	$203K	0.0%	—	—	COM	655664100
HPQ	HP Inc.	15,904	$188K	0.0%	—	—	COM	40434L105
—	Zynerba Pharmaceuticals Inc.	17,857	$180K	0.0%	—	—	COM	98986x109
—	Ideal Power, Inc. (Restricted)	14,383	$115K	0.0%	—	—	COM	451622104
NOK	Nokia Corp Sponsored ADR	13,110	$92,000	0.0%	—	—	FOR	654902204
—	Willbros Group, Inc	12,175	$33,000	0.0%	—	—	COM	969203108
—	IsoRay, Inc.	14,218	$13,000	0.0%	—	—	COM	46489v104