Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	UnitedHealth Group Inc.	92,004	$22.57M	4.5%	—	—	COM	91324p102
PM	Philip Morris International	206,766	$16.69M	3.3%	—	—	COM	718172109
MSFT	Microsoft Corp.	159,045	$15.68M	3.1%	—	—	COM	594918104
BK	Bank of New York Mellon Corp	273,904	$14.77M	3.0%	—	—	COM	064058100
—	Medtronic PLC	159,098	$13.62M	2.7%	—	—	FOR	g5960L103
PEP	Pepsico Inc.	117,199	$12.76M	2.6%	—	—	COM	713448108
JNJ	Johnson & Johnson	99,360	$12.06M	2.4%	—	—	COM	478160104
ELV	Anthem, Inc.	49,746	$11.84M	2.4%	—	—	COM	036752103
—	DowDuPont Inc.	172,918	$11.4M	2.3%	—	—	COM	26078j100
—	Mastercard Inc.	57,590	$11.32M	2.3%	—	—	COM	57636q104
KR	Kroger Co.	397,813	$11.32M	2.3%	—	—	COM	501044101
BP	BP p.l.c.	216,164	$9.87M	2.0%	—	—	FOR	055622104
—	Zimmer Biomet Holdings	86,654	$9.657M	1.9%	—	—	COM	98956p102
BAC	Bank of America Corp	337,594	$9.517M	1.9%	—	—	COM	060505104
—	Merck & Co.Inc. New	153,531	$9.319M	1.9%	—	—	COM	58933y105
—	The Travelers Companies Inc.	72,300	$8.845M	1.8%	—	—	COM	89417e109
—	Altria Group Inc.	150,054	$8.522M	1.7%	—	—	COM	02209s103
—	Biogen Inc.	28,157	$8.172M	1.6%	—	—	COM	09062x103
—	LyondellBasell Industries N.V.	72,718	$7.988M	1.6%	—	—	FOR	n53745100
—	Molson Coors Brewing Co	108,214	$7.363M	1.5%	—	—	COM	60871r209
—	Valero Energy Corp.	64,026	$7.096M	1.4%	—	—	COM	91913y100
—	Express Scripts Holding Co.	84,740	$6.543M	1.3%	—	—	COM	30219g108
ABT	Abbott Laboratories	101,856	$6.212M	1.2%	—	—	COM	002824100
GLW	Corning Inc	223,951	$6.161M	1.2%	—	—	COM	219350105
—	America Movil ADR	359,269	$5.985M	1.2%	—	—	FOR	02364W105
—	Visa, Inc.	44,228	$5.858M	1.2%	—	—	COM	92826c839
—	Discovery Communications Serie	210,849	$5.798M	1.2%	—	—	COM	25470f104
BDX	Becton Dickinson & Co	24,075	$5.767M	1.2%	—	—	COM	075887109
—	Unilever NV New York Shs	103,303	$5.756M	1.2%	—	—	FOR	904784709
AFL	AFLAC Inc.	132,010	$5.679M	1.1%	—	—	COM	001055102
AIG	American International Group	106,274	$5.635M	1.1%	—	—	COM	026874784
—	Cerner Corporation	93,630	$5.598M	1.1%	—	—	COM	156782104
KO	Coca-Cola Company	126,279	$5.539M	1.1%	—	—	COM	191216100
HD	Home Depot Inc.	27,751	$5.414M	1.1%	—	—	COM	437076102
C	Citigroup Inc.	78,995	$5.286M	1.1%	—	—	COM	172967424
WMT	Wal Mart Stores	61,142	$5.237M	1.0%	—	—	COM	931142103
ORCL	Oracle Corp	117,787	$5.19M	1.0%	—	—	COM	68389X105
BRK/B	Berkshire Hathaway Inc. Class	24,555	$4.583M	0.9%	—	—	COM	084670702
BEN	Franklin Resources Inc.	141,023	$4.52M	0.9%	—	—	COM	354613101
CVS	CVS Health Corp.	69,499	$4.472M	0.9%	—	—	COM	126650100
DGX	Quest Diagnostics Inc.	40,420	$4.444M	0.9%	—	—	COM	74834L100
BA	Boeing Company	12,549	$4.21M	0.8%	—	—	COM	097023105
TELFY	Telefonica S.A. ADR	435,965	$3.719M	0.7%	—	—	FOR	879382208
—	Comcast Corp Cl A	112,188	$3.681M	0.7%	—	—	COM	20030n101
LOW	Lowes Companies	36,420	$3.481M	0.7%	—	—	COM	548661107
CE	Celanese Corp	30,135	$3.347M	0.7%	—	—	COM	150870103
—	Credit Suisse Group ADR	220,318	$3.278M	0.7%	—	—	FOR	225401108
CVX	Chevron Corp.	25,859	$3.269M	0.7%	—	—	COM	166764100
PG	Procter & Gamble Co.	41,032	$3.203M	0.6%	—	—	COM	742718109
MRSH	Marsh & McLennan Co.	38,937	$3.192M	0.6%	—	—	COM	571748102
PAYX	Paychex Inc.	45,685	$3.123M	0.6%	—	—	COM	704326107
—	Dr. Pepper Snapple Group	25,088	$3.061M	0.6%	—	—	COM	26138e109
CTSH	Cognizant Technology Solutions	38,298	$3.025M	0.6%	—	—	COM	192446102
—	Alphabet, Inc Voting Class	2,633	$2.973M	0.6%	—	—	COM	02079k305
CPF	Central Pacific Financial Co	101,847	$2.918M	0.6%	—	—	COM	154760409
HRB	H & R Block Inc.	124,802	$2.843M	0.6%	—	—	COM	093671105
—	Unum Group	75,751	$2.802M	0.6%	—	—	COM	91529y106
UPS	United Parcel Service Inc.	26,118	$2.774M	0.6%	—	—	COM	911312106
PFE	Pfizer Inc.	76,180	$2.764M	0.6%	—	—	COM	717081103
—	Glaxo SmithKline PLC	62,772	$2.53M	0.5%	—	—	FOR	37733W105
—	Manitex Intl	200,181	$2.498M	0.5%	—	—	COM	563420108
FDX	Fedex Corp	10,890	$2.473M	0.5%	—	—	COM	31428X106
—	The Mosaic Company	86,331	$2.422M	0.5%	—	—	COM	61945c103
—	Raytheon Company	12,500	$2.415M	0.5%	—	—	COM	755111507
LW	Lamb Weston Holdings	34,314	$2.351M	0.5%	—	—	COM	513272104
—	ConocoPhillips	31,210	$2.173M	0.4%	—	—	COM	20825c104
MCD	McDonalds Corp	13,730	$2.151M	0.4%	—	—	COM	580135101
BTI	British American Tobacco	41,615	$2.099M	0.4%	—	—	FOR	110448107
—	AbbVie, Inc.	22,575	$2.092M	0.4%	—	—	COM	00287y109
—	Costco Wholesale Corp	9,777	$2.043M	0.4%	—	—	COM	22160k105
—	Weight Watchers Intl. Inc.	20,057	$2.028M	0.4%	—	—	COM	948626106
—	Monster Beverage Corp.	35,300	$2.023M	0.4%	—	—	COM	61174x109
—	Diageo PLC ADR	14,024	$2.02M	0.4%	—	—	FOR	25243q205
—	Twenty-First Century Fox Cl A	39,895	$1.982M	0.4%	—	—	COM	90130a101
PSX	Phillips 66	16,961	$1.905M	0.4%	—	—	COM	718546104
VZ	Verizon Communications	36,424	$1.832M	0.4%	—	—	COM	92343V104
CSCO	Cisco Sys Inc.	42,216	$1.817M	0.4%	—	—	COM	17275R102
—	Allergan PLC	10,250	$1.709M	0.3%	—	—	FOR	g0177j108
MDLZ	Mondelez International, Inc.	40,795	$1.673M	0.3%	—	—	COM	609207105
WFC	Wells Fargo & Co.	29,860	$1.655M	0.3%	—	—	COM	949746101
UNP	Union Pacific Corp	11,259	$1.595M	0.3%	—	—	COM	907818108
WAFD	Washington Federal	48,413	$1.583M	0.3%	—	—	COM	938824109
INTC	Intel Corp.	30,219	$1.502M	0.3%	—	—	COM	458140100
AAPL	Apple, Inc.	7,725	$1.43M	0.3%	—	—	COM	037833100
—	Textainer Group Holdings Limit	88,975	$1.415M	0.3%	—	—	FOR	g8766e109
—	Sally Beauty Holdings Inc.	87,259	$1.399M	0.3%	—	—	COM	79546e104
—	General Motors Company	34,749	$1.369M	0.3%	—	—	COM	37045v100
SJM	J.M. Smucker Co.	12,658	$1.36M	0.3%	—	—	COM	832696405
ADP	Automatic Data Processing	10,122	$1.358M	0.3%	—	—	COM	053015103
NKE	Nike Inc Class B	16,300	$1.299M	0.3%	—	—	COM	654106103
—	Royal Dutch Shell PLC A	18,353	$1.271M	0.3%	—	—	FOR	780259206
—	AETNA Inc.	6,743	$1.237M	0.2%	—	—	COM	00817y108
CAG	ConAgra Foods Inc.	34,175	$1.221M	0.2%	—	—	COM	205887102
XOM	Exxon Mobil Corp	13,945	$1.154M	0.2%	—	—	COM	30231G102
WU	Western Union Company	56,349	$1.146M	0.2%	—	—	COM	959802109
—	AT & T, Inc. New	35,362	$1.135M	0.2%	—	—	COM	00206r102
AMGN	Amgen Inc.	6,128	$1.131M	0.2%	—	—	COM	031162100
—	Alkermes PLC	26,651	$1.097M	0.2%	—	—	FOR	g01767105
—	DR Horton, Inc	25,900	$1.062M	0.2%	—	—	COM	23331a109
YUM	Yum! Brands, Inc.	13,237	$1.035M	0.2%	—	—	COM	988498101
—	CenturyLink Inc.	53,000	$988K	0.2%	—	—	COM	156700106
—	Arcos Dorados Hldgs.	142,085	$987K	0.2%	—	—	FOR	g0457f107
DIS	The Walt Disney Co.	9,332	$978K	0.2%	—	—	COM	254687106
—	Ingersoll Rand Co	10,512	$943K	0.2%	—	—	FOR	g47791101
AXP	American Express Co.	9,393	$921K	0.2%	—	—	COM	025816109
KHC	The Kraft Heinz Company	13,278	$834K	0.2%	—	—	COM	500754106
ALK	Alaska Air Group Inc.	12,515	$756K	0.2%	—	—	COM	011659109
—	Viacom Inc. Class B	24,795	$748K	0.1%	—	—	COM	92553p201
TPR	Tapestry Inc.	14,845	$693K	0.1%	—	—	COM	876030107
DAL	Delta Airlines - New	13,670	$677K	0.1%	—	—	COM	247361702
USB	US Bancorp Delaware New	12,660	$633K	0.1%	—	—	COM	902973304
GILD	Gilead Sciences Inc.	8,475	$600K	0.1%	—	—	COM	375558103
SBUX	Starbucks Corp	11,668	$570K	0.1%	—	—	COM	855244109
—	FirstService Corp Voting Share	7,410	$563K	0.1%	—	—	FOR	33767e103
CIGI	Colliers International Group	7,160	$542K	0.1%	—	—	FOR	194693107
—	Legg Mason Inc.	15,395	$535K	0.1%	—	—	COM	524901105
—	Yum China Holdings, Inc.	13,387	$515K	0.1%	—	—	FOR	98850p109
—	ManpowerGroup Inc.	5,350	$460K	0.1%	—	—	COM	56418h100
WY	Weyerhaeuser Co.	12,552	$458K	0.1%	—	—	COM	962166104
—	Waddell & Reed Financial	25,208	$453K	0.1%	—	—	COM	930059100
WM	Waste Management Inc. Del	5,057	$411K	0.1%	—	—	COM	94106L109
BMY	Bristol Myers Squibb Co.	7,269	$402K	0.1%	—	—	COM	110122108
—	Ameriprise Financial Inc.	2,818	$394K	0.1%	—	—	COM	03076c106
LINC	Lincoln Educational	217,653	$379K	0.1%	—	—	COM	533535100
HPQ	HP Inc.	14,595	$331K	0.1%	—	—	COM	40434L105
—	Apache Corp	7,015	$328K	0.1%	—	—	COM	037411105
—	Facebook, Inc.	1,635	$318K	0.1%	—	—	COM	30303m102
—	Dunkin Brands Group, Inc.	4,400	$304K	0.1%	—	—	COM	265504100
—	General Electric Co.	22,104	$301K	0.1%	—	—	COM	369604103
—	Compass Minerals Intl.	4,565	$300K	0.1%	—	—	COM	20451n101
GIS	General Mills	6,496	$288K	0.1%	—	—	COM	370334104
—	Allegion PLC	3,670	$284K	0.1%	—	—	FOR	g0176j109
AGCO	AGCO Corp	4,680	$284K	0.1%	—	—	COM	001084102
—	Laboratory Corp. of America	1,575	$283K	0.1%	—	—	COM	50540r409
BRK/A	Berkshire Hathaway Inc. Class	1	$282K	0.1%	—	—	COM	084670108
—	CDK Global, Inc.	4,224	$275K	0.1%	—	—	COM	12508e101
GAMI	GAMCO Investors Inc.	10,000	$268K	0.1%	—	—	COM	361438104
—	Alliance One International	16,260	$258K	0.1%	—	—	COM	018772301
—	Alphabet, Inc Non-Voting Class	225	$251K	0.1%	—	—	COM	02079k107
—	Interpublic Group	10,538	$247K	0.0%	—	—	COM	460690100
ADBE	Adobe Systems Inc	957	$233K	0.0%	—	—	COM	00724F101
—	SK Telecom ADR	9,458	$221K	0.0%	—	—	FOR	78440p108
—	Hewlett Packard Enterprise Co.	14,965	$219K	0.0%	—	—	COM	42824c109
—	Discovery Communications Serie	8,472	$216K	0.0%	—	—	COM	25470F302
TM	Toyota Motor Corp ADR	1,670	$215K	0.0%	—	—	FOR	892331307
—	Enbridge Inc.	5,780	$206K	0.0%	—	—	FOR	29250n105
AMZN	Amazon.com,Inc.	121	$206K	0.0%	—	—	COM	023135106
GVA	Granite Construction Inc.	3,700	$206K	0.0%	—	—	COM	387328107
TSM	Taiwan Semiconductor Manufactu	5,487	$201K	0.0%	—	—	FOR	874039100
LYG	Lloyds TSB Group	43,000	$143K	0.0%	—	—	COM	539439109
NOK	Nokia Corp Sponsored ADR	13,117	$75,000	0.0%	—	—	FOR	654902204
—	IsoRay, Inc.	14,218	$6,000	0.0%	—	—	COM	46489v104