Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
PM	Philip Morris International	187,494	$19.07M	4.4%	—	—	COM	718172109
—	Unitedhealth Group Inc.	119,075	$16.81M	3.8%	—	—	COM	91324p102
PEP	Pepsico Inc.	140,339	$14.87M	3.4%	—	—	COM	713448108
KR	Kroger Co.	401,563	$14.77M	3.4%	—	—	COM	501044101
—	Molson Coors Brewing Co	129,199	$13.07M	3.0%	—	—	COM	60871r209
JNJ	Johnson & Johnson	105,126	$12.75M	2.9%	—	—	COM	478160104
BK	Bank of New York Mellon Corp	315,829	$12.27M	2.8%	—	—	COM	064058100
—	Medtronic PLC	139,173	$12.08M	2.8%	—	—	COM	g5960l103
—	Zimmer Biomet Holdings	83,814	$10.09M	2.3%	—	—	COM	98956p102
—	Altria Group Inc.	146,050	$10.07M	2.3%	—	—	COM	02209s103
—	The Travelers Companies Inc.	84,498	$10.06M	2.3%	—	—	COM	89417e109
MSFT	Microsoft Corp.	191,619	$9.805M	2.2%	—	—	COM	594918104
—	Merck & Co.Inc. New	153,303	$8.832M	2.0%	—	—	COM	58933y105
BP	BP p.l.c.	218,552	$7.761M	1.8%	—	—	COM	055622104
ELV	Anthem, Inc.	56,044	$7.361M	1.7%	—	—	COM	036752103
—	Dr. Pepper Snapple Group	75,487	$7.294M	1.7%	—	—	COM	26138e109
WMT	Wal Mart Stores	90,967	$6.642M	1.5%	—	—	COM	931142103
GLW	Corning Inc	314,751	$6.446M	1.5%	—	—	COM	219350105
KO	Coca-Cola Company	134,874	$6.114M	1.4%	—	—	COM	191216100
—	Mastercard Inc.	69,410	$6.112M	1.4%	—	—	COM	57636q104
—	Quest Diagnostics Inc.	69,955	$5.695M	1.3%	—	—	COM	74834l100
—	Express Scripts Inc.	74,035	$5.612M	1.3%	—	—	COM	30219g108
—	Unilever NV New York Shs	118,728	$5.573M	1.3%	—	—	COM	904784709
—	America Movil ADR	448,769	$5.502M	1.3%	—	—	COM	02364W105
BEN	Franklin Resources Inc.	161,515	$5.39M	1.2%	—	—	COM	354613101
CAG	ConAgra Foods Inc.	108,535	$5.189M	1.2%	—	—	COM	205887102
—	Discovery Communications Serie	205,511	$5.185M	1.2%	—	—	COM	25470f104
AFL	AFLAC Inc.	70,220	$5.067M	1.2%	—	—	COM	001055102
CVS	CVS Health Corp.	52,349	$5.012M	1.1%	—	—	COM	126650100
ORCL	Oracle Corp	119,337	$4.884M	1.1%	—	—	COM	68389X105
BAC	Bank of America Corp	367,469	$4.876M	1.1%	—	—	COM	060505104
—	Glaxo SmithKline PLC	110,732	$4.799M	1.1%	—	—	COM	37733W105
—	Dow Chemical Company	95,372	$4.741M	1.1%	—	—	COM	260543103
PG	Procter & Gamble Co.	54,753	$4.636M	1.1%	—	—	COM	742718109
TELFY	Telefonica S.A. ADR	480,973	$4.56M	1.0%	—	—	FOR	879382208
BDX	Becton Dickinson & Co	26,225	$4.447M	1.0%	—	—	COM	075887109
—	Comcast Corp Cl A	67,405	$4.394M	1.0%	—	—	COM	20030n101
—	Biogen Inc.	17,985	$4.349M	1.0%	—	—	COM	09062x103
—	E. I. Du Pont De Nemours	66,075	$4.282M	1.0%	—	—	COM	263534109
WU	Western Union Company	201,848	$3.871M	0.9%	—	—	COM	959802109
—	Valero Energy Corp.	72,360	$3.69M	0.8%	—	—	COM	91913y100
HD	Home Depot Inc.	28,171	$3.597M	0.8%	—	—	COM	437076102
—	LyondellBasell Industries N.V.	48,321	$3.596M	0.8%	—	—	FOR	n53745100
HRB	H & R Block Inc.	154,502	$3.554M	0.8%	—	—	COM	093671105
MRSH	Marsh & McLennan Co.	48,837	$3.343M	0.8%	—	—	COM	571748102
BRK/B	Berkshire Hathaway Inc. Class	23,055	$3.338M	0.8%	—	—	COM	084670702
CVX	Chevron Corp.	31,743	$3.328M	0.8%	—	—	COM	166764100
—	Visa, Inc.	44,248	$3.282M	0.8%	—	—	COM	92826c839
C	Citigroup Inc.	77,170	$3.271M	0.7%	—	—	COM	172967424
ABT	Abbott Laboratories	78,672	$3.093M	0.7%	—	—	COM	002824100
PFE	Pfizer Inc.	85,899	$3.025M	0.7%	—	—	COM	717081103
—	Unum Group	92,733	$2.948M	0.7%	—	—	COM	91529y106
LOW	Lowes Companies	36,820	$2.915M	0.7%	—	—	COM	548661107
PAYX	Paychex Inc.	48,785	$2.903M	0.7%	—	—	COM	704326107
BTI	British American Tobacco	20,250	$2.622M	0.6%	—	—	COM	110448107
—	St. Jude Medical Inc.	31,973	$2.494M	0.6%	—	—	COM	790849103
CPF	Central Pacific Financial Co	103,947	$2.453M	0.6%	—	—	COM	154760409
VZ	Verizon Communications	42,602	$2.379M	0.5%	—	—	COM	92343V104
—	American International Group	44,650	$2.362M	0.5%	—	—	COM	026874107
—	Credit Suisse Group ADR	211,518	$2.263M	0.5%	—	—	COM	225401108
—	Twenty-First Century Fox Cl A	78,426	$2.121M	0.5%	—	—	COM	90130a101
—	Diageo PLC ADR	18,224	$2.057M	0.5%	—	—	COM	25243q205
SJM	J.M. Smucker Co.	13,480	$2.054M	0.5%	—	—	COM	832696405
—	Monster Beverage Corp.	12,100	$1.945M	0.4%	—	—	COM	611740101
MCD	McDonalds Corp	16,145	$1.943M	0.4%	—	—	COM	580135101
MDLZ	Mondelez International, Inc.	40,484	$1.842M	0.4%	—	—	COM	609207105
—	Raytheon Company	13,500	$1.835M	0.4%	—	—	COM	755111507
—	CST Brands, Inc.	42,512	$1.831M	0.4%	—	—	COM	12646r105
—	Costco Wholesale Corp	11,552	$1.814M	0.4%	—	—	COM	22160k105
—	The Mosaic Company	64,525	$1.689M	0.4%	—	—	COM	61945c103
BA	Boeing Company	12,847	$1.668M	0.4%	—	—	COM	097023105
XOM	Exxon Mobil Corp	16,334	$1.531M	0.4%	—	—	COM	30231G102
—	ConocoPhillips	34,591	$1.508M	0.3%	—	—	COM	20825c104
—	Intel Corp.	45,487	$1.492M	0.3%	—	—	COM	458140101
UPS	United Parcel Service Inc.	13,335	$1.436M	0.3%	—	—	COM	911312106
—	Apollo Education Group, Inc.	153,650	$1.401M	0.3%	—	—	COM	037604105
CSCO	Cisco Sys Inc.	47,895	$1.374M	0.3%	—	—	COM	17275R102
PSX	Phillips 66	17,293	$1.372M	0.3%	—	—	COM	718546104
NKE	Nike Inc Class B	23,340	$1.288M	0.3%	—	—	COM	654106103
—	AbbVie, Inc.	20,672	$1.28M	0.3%	—	—	COM	00287y109
—	Time Warner Inc.	16,876	$1.241M	0.3%	—	—	COM	887317303
—	Vitamin Shoppe, Inc.	39,860	$1.219M	0.3%	—	—	COM	92849E101
—	Viacom Inc. Class B	29,395	$1.219M	0.3%	—	—	COM	92553p201
—	AT & T, Inc. New	28,155	$1.217M	0.3%	—	—	COM	00206r102
KHC	The Kraft Heinz Company	13,130	$1.162M	0.3%	—	—	COM	500754106
—	Alkermes PLC	26,751	$1.156M	0.3%	—	—	COM	g01767105
ADP	Automatic Data Processing	12,452	$1.144M	0.3%	—	—	COM	053015103
YUM	Yum! Brands, Inc.	13,337	$1.106M	0.3%	—	—	COM	988498101
UNP	Union Pacific Corp	11,634	$1.015M	0.2%	—	—	COM	907818108
—	General Motors Company	35,817	$1.014M	0.2%	—	—	COM	37045v100
—	Legg Mason Inc.	32,270	$952K	0.2%	—	—	COM	524901105
—	Royal Dutch Shell PLC	15,778	$871K	0.2%	—	—	FOR	780259206
—	Ingersoll Rand Co	11,500	$732K	0.2%	—	—	COM	g47791101
DIS	Walt Disney Holding Co.	7,387	$723K	0.2%	—	—	COM	254687106
AAPL	Apple Computer Inc.	7,505	$717K	0.2%	—	—	COM	037833100
—	Textainer Group Holdings Limit	63,600	$709K	0.2%	—	—	COM	g8766e109
—	AETNA Inc.	5,315	$649K	0.1%	—	—	COM	00817y108
—	Coach Inc.	15,670	$638K	0.1%	—	—	COM	189754104
—	Waddell & Reed Financial	34,908	$601K	0.1%	—	—	COM	930059100
—	Weight Watchers Intl. Inc.	50,270	$585K	0.1%	—	—	COM	948626106
WAFD	Washington Federal	23,939	$581K	0.1%	—	—	COM	938824109
KELYA	Kelly Services,Inc.	28,428	$539K	0.1%	—	—	COM	488152208
—	Apache Corp	9,501	$529K	0.1%	—	—	COM	037411105
AXP	American Express Co.	8,018	$487K	0.1%	—	—	COM	025816109
USB	US Bancorp Delaware New	11,660	$470K	0.1%	—	—	COM	902973304
—	Alliance One International	29,122	$448K	0.1%	—	—	COM	018772301
—	Arcos Dorados Hldgs.	93,298	$445K	0.1%	—	—	FOR	g0457f107
SBUX	Starbucks Corp	7,554	$431K	0.1%	—	—	COM	855244109
—	Laboratory Corp. of America	3,180	$414K	0.1%	—	—	COM	50540r409
—	Interpublic Group	17,188	$397K	0.1%	—	—	COM	460690100
—	General Electric Co.	12,585	$396K	0.1%	—	—	COM	369604103
LINC	Lincoln Educational	261,100	$392K	0.1%	—	—	COM	533535100
AGCO	AGCO Corp	8,005	$377K	0.1%	—	—	COM	001084102
—	Alphabet, Inc Voting Class	525	$369K	0.1%	—	—	COM	02076k305
BMY	Bristol Myers Squibb Co.	4,993	$367K	0.1%	—	—	COM	110122108
WY	Weyerhaeuser Co.	11,779	$351K	0.1%	—	—	COM	962166104
—	ManpowerGroup Inc.	5,450	$351K	0.1%	—	—	COM	56418h100
—	Zynerba Pharmaceuticals Inc.	50,556	$346K	0.1%	—	—	COM	98986x109
WM	Waste Management Inc. Del	5,180	$343K	0.1%	—	—	COM	94106L109
—	FirstService Corp Voting Share	7,460	$342K	0.1%	—	—	COM	33767e103
CYH	Community Health Systems, Inc.	26,134	$315K	0.1%	—	—	COM	203668108
—	Shire PLC	1,712	$315K	0.1%	—	—	COM	82481r106
—	Hewlett Packard Enterprise Co.	15,804	$289K	0.1%	—	—	COM	42824c109
ALK	Alaska Air Group Inc.	4,920	$287K	0.1%	—	—	COM	011659109
NWL	Newell Rubbermaid Inc.	5,850	$284K	0.1%	—	—	COM	651229106
CALM	Cal-Maine Foods Inc.	6,001	$266K	0.1%	—	—	COM	128030202
—	Allegion PLC	3,802	$264K	0.1%	—	—	COM	0176j1097
CIGI	Colliers International Group	7,460	$255K	0.1%	—	—	COM	194693107
GILD	Gilead Sciences Inc.	2,982	$249K	0.1%	—	—	COM	375558103
—	Allergan PLC	1,050	$243K	0.1%	—	—	COM	g0177j108
—	CDK Global, Inc.	4,288	$238K	0.1%	—	—	COM	12508e101
TM	Toyota Motor Corp ADR	2,275	$227K	0.1%	—	—	FOR	892331307
—	Ameriprise Financial Inc.	2,498	$224K	0.1%	—	—	COM	03076c106
—	Spectra Energy Corp.	6,071	$222K	0.1%	—	—	COM	847560109
—	Principal Financial Group	5,322	$219K	0.1%	—	—	COM	74251v102
BRK/A	Berkshire Hathaway Inc. Class	1	$217K	0.0%	—	—	COM	084670108
—	Wells Fargo & Co.	4,460	$211K	0.0%	—	—	COM	949974610
ANDE	Andersons Inc.	5,890	$209K	0.0%	—	—	COM	034164103
—	Dunkin Brands Group, Inc.	4,800	$209K	0.0%	—	—	COM	265504100
—	Discovery Communications Serie	8,598	$205K	0.0%	—	—	COM	25470F302
—	SK Telecom ADR	9,808	$205K	0.0%	—	—	FOR	78440p108
HPQ	HP Inc.	15,129	$190K	0.0%	—	—	COM	40434L105
NOK	Nokia Corp Sponsored ADR	13,117	$75,000	0.0%	—	—	FOR	654902204
—	Ideal Power, Inc. (Restricted)	14,383	$71,000	0.0%	—	—	COM	451622104
—	Willbros Group, Inc	12,175	$31,000	0.0%	—	—	COM	969203108
—	IsoRay, Inc.	14,218	$12,000	0.0%	—	—	COM	46489v104