Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	UnitedHealth Group Inc.	118,200	$18.92M	4.1%	—	—	COM	91324p102
PM	Philip Morris International	201,358	$18.42M	4.0%	—	—	COM	718172109
BK	Bank of New York Mellon Corp	310,679	$14.72M	3.2%	—	—	COM	064058100
PEP	Pepsico Inc.	139,239	$14.57M	3.2%	—	—	COM	713448108
KR	Kroger Co.	401,713	$13.86M	3.0%	—	—	COM	501044101
JNJ	Johnson & Johnson	104,076	$11.99M	2.6%	—	—	COM	478160104
MSFT	Microsoft Corp.	189,646	$11.79M	2.6%	—	—	COM	594918104
—	Molson Coors Brewing Co	117,449	$11.43M	2.5%	—	—	COM	60871r209
—	Medtronic PLC	146,923	$10.46M	2.3%	—	—	COM	g5960l103
—	The Travelers Companies Inc.	81,502	$9.977M	2.2%	—	—	COM	89417e109
—	Altria Group Inc.	146,504	$9.907M	2.2%	—	—	COM	02209s103
—	Merck & Co.Inc. New	153,453	$9.034M	2.0%	—	—	COM	58933y105
—	Zimmer Biomet Holdings	86,514	$8.928M	1.9%	—	—	COM	98956p102
BP	BP p.l.c.	217,286	$8.122M	1.8%	—	—	COM	055622104
BAC	Bank of America Corp	359,715	$7.95M	1.7%	—	—	COM	060505104
ELV	Anthem, Inc.	54,694	$7.863M	1.7%	—	—	COM	036752103
—	Biogen Inc.	25,305	$7.176M	1.6%	—	—	COM	09062x103
—	Mastercard Inc.	68,360	$7.058M	1.5%	—	—	COM	57636q104
GLW	Corning Inc	288,001	$6.99M	1.5%	—	—	COM	219350105
—	Dr. Pepper Snapple Group	75,237	$6.822M	1.5%	—	—	COM	26138e109
BEN	Franklin Resources Inc.	156,765	$6.205M	1.3%	—	—	COM	354613101
WMT	Wal Mart Stores	85,517	$5.911M	1.3%	—	—	COM	931142103
—	Express Scripts Inc.	84,995	$5.847M	1.3%	—	—	COM	30219g108
—	Discovery Communications Serie	207,836	$5.697M	1.2%	—	—	COM	25470f104
KO	Coca-Cola Company	136,125	$5.644M	1.2%	—	—	COM	191216100
—	America Movil ADR	442,219	$5.559M	1.2%	—	—	COM	02364W105
AFL	AFLAC Inc.	77,920	$5.423M	1.2%	—	—	COM	001055102
—	Dow Chemical Company	94,172	$5.389M	1.2%	—	—	COM	260543103
—	LyondellBasell Industries N.V.	58,121	$4.986M	1.1%	—	—	FOR	n53745100
—	Quest Diagnostics Inc.	53,995	$4.962M	1.1%	—	—	COM	74834l100
—	Valero Energy Corp.	71,951	$4.916M	1.1%	—	—	COM	91913y100
CVS	CVS Health Corp.	62,049	$4.896M	1.1%	—	—	COM	126650100
—	Unilever NV New York Shs	118,428	$4.863M	1.1%	—	—	COM	904784709
—	E. I. Du Pont De Nemours	64,725	$4.751M	1.0%	—	—	COM	263534109
—	Comcast Corp Cl A	67,255	$4.644M	1.0%	—	—	COM	20030n101
ORCL	Oracle Corp	118,237	$4.546M	1.0%	—	—	COM	68389X105
C	Citigroup Inc.	75,970	$4.515M	1.0%	—	—	COM	172967424
BDX	Becton Dickinson & Co	26,225	$4.342M	0.9%	—	—	COM	075887109
TELFY	Telefonica S.A. ADR	449,626	$4.137M	0.9%	—	—	FOR	879382208
CAG	ConAgra Foods Inc.	103,985	$4.113M	0.9%	—	—	COM	205887102
PG	Procter & Gamble Co.	46,703	$3.927M	0.9%	—	—	COM	742718109
HD	Home Depot Inc.	28,021	$3.757M	0.8%	—	—	COM	437076102
BRK/B	Berkshire Hathaway Inc. Class	23,005	$3.749M	0.8%	—	—	COM	084670702
WU	Western Union Company	171,822	$3.732M	0.8%	—	—	COM	959802109
CVX	Chevron Corp.	30,021	$3.533M	0.8%	—	—	COM	166764100
HRB	H & R Block Inc.	153,202	$3.522M	0.8%	—	—	COM	093671105
—	Visa, Inc.	44,228	$3.451M	0.8%	—	—	COM	92826c839
—	Unum Group	78,357	$3.442M	0.7%	—	—	COM	91529y106
—	Glaxo SmithKline PLC	89,247	$3.437M	0.7%	—	—	COM	37733W105
CPF	Central Pacific Financial Co	104,047	$3.269M	0.7%	—	—	COM	154760409
ABT	Abbott Laboratories	78,664	$3.021M	0.7%	—	—	COM	002824100
—	Credit Suisse Group ADR	208,468	$2.983M	0.6%	—	—	COM	225401108
MRSH	Marsh & McLennan Co.	44,087	$2.98M	0.6%	—	—	COM	571748102
—	American International Group	44,600	$2.913M	0.6%	—	—	COM	026874107
PAYX	Paychex Inc.	47,485	$2.891M	0.6%	—	—	COM	704326107
PFE	Pfizer Inc.	85,493	$2.777M	0.6%	—	—	COM	717081103
LOW	Lowes Companies	36,470	$2.594M	0.6%	—	—	COM	548661107
—	St. Jude Medical Inc.	31,525	$2.528M	0.5%	—	—	COM	790849103
—	The Mosaic Company	84,431	$2.476M	0.5%	—	—	COM	61945c103
CE	Celanese Corp	30,250	$2.382M	0.5%	—	—	COM	150870103
BTI	British American Tobacco	20,250	$2.282M	0.5%	—	—	COM	110448107
VZ	Verizon Communications	42,439	$2.265M	0.5%	—	—	COM	92343V104
—	Twenty-First Century Fox Cl A	77,012	$2.159M	0.5%	—	—	COM	90130a101
BA	Boeing Company	12,747	$1.984M	0.4%	—	—	COM	097023105
—	CST Brands, Inc.	40,064	$1.929M	0.4%	—	—	COM	12646r105
—	Raytheon Company	13,500	$1.917M	0.4%	—	—	COM	755111507
MCD	McDonalds Corp	15,580	$1.896M	0.4%	—	—	COM	580135101
—	Diageo PLC ADR	18,194	$1.891M	0.4%	—	—	COM	25243q205
—	Costco Wholesale Corp	11,393	$1.824M	0.4%	—	—	COM	22160k105
MDLZ	Mondelez International, Inc.	41,144	$1.824M	0.4%	—	—	COM	609207105
CTSH	Cognizant Technology Solutions	32,023	$1.794M	0.4%	—	—	COM	192446102
—	ConocoPhillips	33,975	$1.704M	0.4%	—	—	COM	20825c104
—	Cerner Corporation	35,975	$1.704M	0.4%	—	—	COM	156782104
SJM	J.M. Smucker Co.	13,030	$1.669M	0.4%	—	—	COM	832696405
—	Allergan PLC	7,840	$1.646M	0.4%	—	—	COM	g0177j108
—	Monster Beverage Corp.	36,300	$1.61M	0.4%	—	—	COM	611740101
—	Time Warner Inc.	16,660	$1.608M	0.3%	—	—	COM	887317303
—	Intel Corp.	44,165	$1.602M	0.3%	—	—	COM	458140101
UPS	United Parcel Service Inc.	13,338	$1.529M	0.3%	—	—	COM	911312106
PSX	Phillips 66	17,318	$1.496M	0.3%	—	—	COM	718546104
—	Alkermes PLC	26,751	$1.487M	0.3%	—	—	COM	g01767105
CSCO	Cisco Sys Inc.	48,023	$1.451M	0.3%	—	—	COM	17275R102
XOM	Exxon Mobil Corp	15,409	$1.391M	0.3%	—	—	COM	30231G102
LW	Lamb Weston Holdings	34,656	$1.312M	0.3%	—	—	COM	513272104
—	AbbVie, Inc.	20,825	$1.304M	0.3%	—	—	COM	00287y109
ADP	Automatic Data Processing	12,102	$1.244M	0.3%	—	—	COM	053015103
—	AT & T, Inc. New	29,095	$1.237M	0.3%	—	—	COM	00206r102
—	General Motors Company	35,167	$1.225M	0.3%	—	—	COM	37045v100
—	Manitex Intl	177,273	$1.216M	0.3%	—	—	COM	563420108
UNP	Union Pacific Corp	11,434	$1.185M	0.3%	—	—	COM	907818108
—	Legg Mason Inc.	39,545	$1.183M	0.3%	—	—	COM	524901105
KHC	The Kraft Heinz Company	13,350	$1.166M	0.3%	—	—	COM	500754106
—	Apollo Education Group, Inc.	107,521	$1.064M	0.2%	—	—	COM	037604105
NKE	Nike Inc Class B	20,500	$1.042M	0.2%	—	—	COM	654106103
—	Viacom Inc. Class B	28,045	$984K	0.2%	—	—	COM	92553p201
DIS	Walt Disney Holding Co.	9,357	$975K	0.2%	—	—	COM	254687106
—	Vitamin Shoppe, Inc.	39,610	$941K	0.2%	—	—	COM	92849E101
AAPL	Apple Computer Inc.	8,055	$933K	0.2%	—	—	COM	037833100
—	Ingersoll Rand Co	11,500	$863K	0.2%	—	—	COM	g47791101
YUM	Yum! Brands, Inc.	13,337	$845K	0.2%	—	—	COM	988498101
WAFD	Washington Federal	23,939	$822K	0.2%	—	—	COM	938824109
—	Red Robin Gourment Burgers Inc	14,200	$801K	0.2%	—	—	COM	75689m101
—	Royal Dutch Shell PLC	14,503	$789K	0.2%	—	—	FOR	780259206
—	Textainer Group Holdings Limit	93,600	$697K	0.2%	—	—	COM	g8766e109
—	Waddell & Reed Financial	34,858	$680K	0.1%	—	—	COM	930059100
—	AETNA Inc.	5,316	$659K	0.1%	—	—	COM	00817y108
KELYA	Kelly Services,Inc.	28,428	$652K	0.1%	—	—	COM	488152208
USB	US Bancorp Delaware New	11,660	$599K	0.1%	—	—	COM	902973304
AXP	American Express Co.	8,018	$594K	0.1%	—	—	COM	025816109
—	Weight Watchers Intl. Inc.	49,220	$564K	0.1%	—	—	COM	948626106
—	Coach Inc.	15,395	$539K	0.1%	—	—	COM	189754104
—	Zynerba Pharmaceuticals Inc.	32,699	$510K	0.1%	—	—	COM	98986x109
—	Apache Corp	8,015	$509K	0.1%	—	—	COM	037411105
—	Wells Fargo & Co.	9,110	$502K	0.1%	—	—	COM	949974610
—	Arcos Dorados Hldgs.	92,398	$499K	0.1%	—	—	FOR	g0457f107
—	ManpowerGroup Inc.	5,350	$475K	0.1%	—	—	COM	56418h100
LINC	Lincoln Educational	232,207	$446K	0.1%	—	—	COM	533535100
—	Alliance One International	22,636	$435K	0.1%	—	—	COM	018772301
—	Alphabet, Inc Voting Class	525	$416K	0.1%	—	—	COM	02076k305
—	General Electric Co.	12,768	$403K	0.1%	—	—	COM	369604103
—	Interpublic Group	16,968	$397K	0.1%	—	—	COM	460690100
GILD	Gilead Sciences Inc.	5,477	$392K	0.1%	—	—	COM	375558103
SBUX	Starbucks Corp	7,054	$392K	0.1%	—	—	COM	855244109
AGCO	AGCO Corp	6,705	$388K	0.1%	—	—	COM	001084102
ALK	Alaska Air Group Inc.	4,320	$383K	0.1%	—	—	COM	011659109
—	Laboratory Corp. of America	2,880	$370K	0.1%	—	—	COM	50540r409
—	Hewlett Packard Enterprise Co.	15,724	$364K	0.1%	—	—	COM	42824c109
WM	Waste Management Inc. Del	5,030	$357K	0.1%	—	—	COM	94106L109
WY	Weyerhaeuser Co.	11,692	$352K	0.1%	—	—	COM	962166104
—	Yum China Holdings, Inc.	13,337	$348K	0.1%	—	—	COM	98850p109
—	FirstService Corp Voting Share	7,160	$340K	0.1%	—	—	COM	33767e103
CALM	Cal-Maine Foods Inc.	7,001	$309K	0.1%	—	—	COM	128030202
—	Shire PLC	1,705	$290K	0.1%	—	—	COM	82481r106
—	Ameriprise Financial Inc.	2,498	$277K	0.1%	—	—	COM	03076c106
BMY	Bristol Myers Squibb Co.	4,693	$274K	0.1%	—	—	COM	110122108
ANDE	Andersons Inc.	5,890	$263K	0.1%	—	—	COM	034164103
CIGI	Colliers International Group	7,160	$263K	0.1%	—	—	COM	194693107
—	CDK Global, Inc.	4,272	$255K	0.1%	—	—	COM	12508e101
—	Dunkin Brands Group, Inc.	4,800	$252K	0.1%	—	—	COM	265504100
—	Spectra Energy Corp.	6,071	$249K	0.1%	—	—	COM	847560109
BRK/A	Berkshire Hathaway Inc. Class	1	$244K	0.1%	—	—	COM	084670108
—	Allegion PLC	3,802	$243K	0.1%	—	—	COM	0176j1097
TM	Toyota Motor Corp ADR	1,975	$231K	0.1%	—	—	FOR	892331307
—	Discovery Communications Serie	8,598	$230K	0.1%	—	—	COM	25470F302
HPQ	HP Inc.	14,974	$222K	0.0%	—	—	COM	40434L105
GVA	Granite Construction Inc.	3,700	$203K	0.0%	—	—	COM	387328107
—	SK Telecom ADR	9,733	$203K	0.0%	—	—	FOR	78440p108
NOK	Nokia Corp Sponsored ADR	13,117	$63,000	0.0%	—	—	FOR	654902204
—	Ideal Power, Inc. (Restricted)	14,383	$47,000	0.0%	—	—	COM	451622104
—	Willbros Group, Inc	12,175	$39,000	0.0%	—	—	COM	969203108
—	IsoRay, Inc.	14,218	$8,000	0.0%	—	—	COM	46489v104