Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	UnitedHealth Group Inc.	88,854	$26.12M	4.9%	—	—	COM	91324p102
MSFT	Microsoft Corp.	129,610	$20.44M	3.8%	—	—	COM	594918104
PM	Philip Morris International	206,301	$17.55M	3.3%	—	—	COM	718172109
—	Mastercard Inc.	56,590	$16.9M	3.1%	—	—	COM	57636q104
—	Medtronic PLC	144,718	$16.42M	3.1%	—	—	FOR	g5960L103
PEP	Pepsico Inc.	108,773	$14.87M	2.8%	—	—	COM	713448108
ELV	Anthem, Inc.	48,609	$14.68M	2.7%	—	—	COM	036752103
JNJ	Johnson & Johnson	93,570	$13.65M	2.5%	—	—	COM	478160104
BK	Bank of New York Mellon Corp	244,059	$12.28M	2.3%	—	—	COM	064058100
BAC	Bank of America Corp	341,001	$12.01M	2.2%	—	—	COM	060505104
—	Merck & Co.Inc. New	127,886	$11.63M	2.2%	—	—	COM	58933y105
KR	Kroger Co.	393,013	$11.39M	2.1%	—	—	COM	501044101
—	Zimmer Biomet Holdings	70,529	$10.56M	2.0%	—	—	COM	98956p102
ABT	Abbott Laboratories	97,451	$8.465M	1.6%	—	—	COM	002824100
—	The Travelers Companies Inc.	61,450	$8.416M	1.6%	—	—	COM	89417e109
—	Visa, Inc.	44,228	$8.31M	1.5%	—	—	COM	92826c839
BP	BP p.l.c.	216,479	$8.17M	1.5%	—	—	FOR	055622104
—	Biogen Inc.	27,417	$8.135M	1.5%	—	—	COM	09062x103
—	Altria Group Inc.	156,729	$7.822M	1.5%	—	—	COM	02209s103
—	Discovery,Inc. Series A	206,522	$6.762M	1.3%	—	—	COM	25470f104
—	LyondellBasell Industries N.V.	71,423	$6.748M	1.3%	—	—	FOR	n53745100
AFL	AFLAC Inc.	126,635	$6.699M	1.2%	—	—	COM	001055102
CVS	CVS Health Corp.	89,032	$6.614M	1.2%	—	—	COM	126650100
KO	Coca-Cola Company	119,091	$6.592M	1.2%	—	—	COM	191216100
WMT	Wal Mart Stores	53,612	$6.371M	1.2%	—	—	COM	931142103
—	Cerner Corporation	86,690	$6.362M	1.2%	—	—	COM	156782104
ORCL	Oracle Corp	117,362	$6.218M	1.2%	—	—	COM	68389X105
C	Citigroup Inc.	77,583	$6.198M	1.2%	—	—	COM	172967424
HD	Home Depot Inc.	27,556	$6.018M	1.1%	—	—	COM	437076102
—	Valero Energy Corp.	63,231	$5.922M	1.1%	—	—	COM	91913y100
—	Molson Coors Brewing Co	107,476	$5.793M	1.1%	—	—	COM	60871r209
BRK/B	Berkshire Hathaway Inc. Class	25,060	$5.676M	1.1%	—	—	COM	084670702
BDX	Becton Dickinson & Co	20,815	$5.661M	1.1%	—	—	COM	075887109
—	Unilever NV New York Shs	97,713	$5.615M	1.0%	—	—	FOR	904784709
AIG	American International Group	103,787	$5.327M	1.0%	—	—	COM	026874784
—	Alphabet, Inc Voting Class	3,822	$5.119M	1.0%	—	—	COM	02079k305
—	America Movil ADR	315,619	$5.05M	0.9%	—	—	FOR	02364W105
GLW	Corning Inc	172,251	$5.014M	0.9%	—	—	COM	219350105
BA	Boeing Company	15,199	$4.951M	0.9%	—	—	COM	097023105
—	Comcast Corp Cl A	107,920	$4.853M	0.9%	—	—	COM	20030n101
BKNG	Booking Holdings Inc.	2,222	$4.563M	0.8%	—	—	COM	09857L108
CI	Cigna Corp	22,300	$4.56M	0.8%	—	—	COM	125523100
LOW	Lowes Companies	36,155	$4.33M	0.8%	—	—	COM	548661107
MRSH	Marsh & McLennan Co.	37,362	$4.163M	0.8%	—	—	COM	571748102
DGX	Quest Diagnostics Inc.	38,045	$4.063M	0.8%	—	—	COM	74834L100
PAYX	Paychex Inc.	44,760	$3.807M	0.7%	—	—	COM	704326107
—	DuPont de Nemours, Inc	58,254	$3.74M	0.7%	—	—	COM	26614n102
CE	Celanese Corp	30,025	$3.697M	0.7%	—	—	COM	150870103
PG	Procter & Gamble Co.	28,377	$3.544M	0.7%	—	—	COM	742718109
BEN	Franklin Resources Inc.	134,378	$3.491M	0.6%	—	—	COM	354613101
CVX	Chevron Corp.	27,499	$3.314M	0.6%	—	—	COM	166764100
DOW	Dow Inc.	58,825	$3.219M	0.6%	—	—	COM	260557103
CPF	Central Pacific Financial Co	98,797	$2.922M	0.5%	—	—	COM	154760409
PFE	Pfizer Inc.	74,165	$2.906M	0.5%	—	—	COM	717081103
—	Credit Suisse Group ADR	215,343	$2.896M	0.5%	—	—	FOR	225401108
—	Facebook, Inc.	14,005	$2.875M	0.5%	—	—	COM	30303m102
CTSH	Cognizant Technology Solutions	46,333	$2.874M	0.5%	—	—	COM	192446102
—	Costco Wholesale Corp	9,767	$2.871M	0.5%	—	—	COM	22160k105
BTI	British American Tobacco	65,785	$2.793M	0.5%	—	—	FOR	110448107
AAPL	Apple, Inc.	9,500	$2.79M	0.5%	—	—	COM	037833100
—	Raytheon Company	12,500	$2.747M	0.5%	—	—	COM	755111507
—	Glaxo SmithKline PLC	56,951	$2.676M	0.5%	—	—	FOR	37733W105
CSCO	Cisco Sys Inc.	55,141	$2.645M	0.5%	—	—	COM	17275R102
—	AbbVie, Inc.	28,510	$2.524M	0.5%	—	—	COM	00287y109
MCD	McDonalds Corp	12,220	$2.415M	0.4%	—	—	COM	580135101
DIS	The Walt Disney Co.	16,446	$2.379M	0.4%	—	—	COM	254687106
FDX	Fedex Corp	15,105	$2.284M	0.4%	—	—	COM	31428X106
TELFY	Telefonica S.A. ADR	318,650	$2.221M	0.4%	—	—	FOR	879382208
—	Monster Beverage Corp.	34,800	$2.212M	0.4%	—	—	COM	61174x109
—	Diageo PLC ADR	13,099	$2.206M	0.4%	—	—	FOR	25243q205
VZ	Verizon Communications	34,900	$2.143M	0.4%	—	—	COM	92343V104
MDLZ	Mondelez International, Inc.	38,860	$2.14M	0.4%	—	—	COM	609207105
—	Unum Group	73,237	$2.136M	0.4%	—	—	COM	91529y106
PSX	Phillips 66	19,067	$2.124M	0.4%	—	—	COM	718546104
INTC	Intel Corp.	33,426	$2.001M	0.4%	—	—	COM	458140100
—	ConocoPhillips	30,419	$1.978M	0.4%	—	—	COM	20825c104
UPS	United Parcel Service Inc.	16,710	$1.956M	0.4%	—	—	COM	911312106
UNP	Union Pacific Corp	10,565	$1.91M	0.4%	—	—	COM	907818108
CTVA	Corteva, Inc.	59,009	$1.744M	0.3%	—	—	COM	22052L104
—	Arcos Dorados Hldgs.	213,245	$1.727M	0.3%	—	—	FOR	g0457f107
WAFD	Washington Federal	46,512	$1.705M	0.3%	—	—	COM	938824109
NKE	Nike Inc Class B	16,400	$1.661M	0.3%	—	—	COM	654106103
ADP	Automatic Data Processing	9,522	$1.624M	0.3%	—	—	COM	053015103
—	Allergan PLC	8,440	$1.613M	0.3%	—	—	FOR	g0177j108
—	Sally Beauty Holdings Inc.	86,986	$1.587M	0.3%	—	—	COM	79546e104
WFC	Wells Fargo & Co.	29,066	$1.564M	0.3%	—	—	COM	949746101
HRB	H & R Block Inc.	65,567	$1.54M	0.3%	—	—	COM	093671105
—	AT & T, Inc. New	39,137	$1.529M	0.3%	—	—	COM	00206r102
AMGN	Amgen Inc.	6,158	$1.485M	0.3%	—	—	COM	031162100
—	The Mosaic Company	67,081	$1.452M	0.3%	—	—	COM	61945c103
—	Ingersoll Rand Co	10,400	$1.382M	0.3%	—	—	FOR	g47791101
YUM	Yum! Brands, Inc.	13,137	$1.323M	0.2%	—	—	COM	988498101
LW	Lamb Weston Holdings	15,174	$1.305M	0.2%	—	—	COM	513272104
SJM	J.M. Smucker Co.	12,233	$1.274M	0.2%	—	—	COM	832696405
—	General Motors Company	34,399	$1.259M	0.2%	—	—	COM	37045v100
—	Manitex Intl	195,431	$1.163M	0.2%	—	—	COM	563420108
AXP	American Express Co.	9,033	$1.125M	0.2%	—	—	COM	025816109
—	Royal Dutch Shell PLC A	18,703	$1.103M	0.2%	—	—	FOR	780259206
SBUX	Starbucks Corp	11,418	$1.004M	0.2%	—	—	COM	855244109
XOM	Exxon Mobil Corp	13,911	$971K	0.2%	—	—	COM	30231G102
CAG	ConAgra Foods Inc.	26,775	$917K	0.2%	—	—	COM	205887102
—	DR Horton, Inc	17,050	$899K	0.2%	—	—	COM	23331a109
—	Textainer Group Holdings Limit	82,350	$882K	0.2%	—	—	FOR	g8766e109
ALK	Alaska Air Group Inc.	11,965	$811K	0.2%	—	—	COM	011659109
DAL	Delta Airlines - New	13,400	$784K	0.1%	—	—	COM	247361702
—	Ameriprise Financial Inc.	4,688	$781K	0.1%	—	—	COM	03076c106
WU	Western Union Company	29,105	$779K	0.1%	—	—	COM	959802109
—	FirstService Corp Voting Share	7,410	$689K	0.1%	—	—	FOR	33767e103
GILD	Gilead Sciences Inc.	9,950	$647K	0.1%	—	—	COM	375558103
—	Yum China Holdings, Inc.	13,337	$640K	0.1%	—	—	FOR	98850p109
—	CenturyLink Inc.	45,150	$596K	0.1%	—	—	COM	156700106
—	WW International, Inc.	15,042	$575K	0.1%	—	—	COM	98262p101
USB	US Bancorp Delaware New	9,635	$571K	0.1%	—	—	COM	902973304
CAT	Caterpillar Inc.	3,865	$571K	0.1%	—	—	COM	149123101
—	Alkermes PLC	27,491	$561K	0.1%	—	—	FOR	g01767105
CIGI	Colliers International Group	7,160	$558K	0.1%	—	—	FOR	194693107
LINC	Lincoln Educational	204,261	$552K	0.1%	—	—	COM	533535100
—	ViacomCBS Inc. B	12,545	$526K	0.1%	—	—	COM	92556h206
—	Allegion PLC	3,637	$453K	0.1%	—	—	FOR	g0176j109
—	ManpowerGroup Inc.	4,650	$452K	0.1%	—	—	COM	56418h100
—	Keurig Dr. Pepper Inc.	15,148	$439K	0.1%	—	—	COM	49271v100
KHC	The Kraft Heinz Company	12,985	$417K	0.1%	—	—	COM	500754106
BMY	Bristol Myers Squibb Co.	6,380	$410K	0.1%	—	—	COM	110122108
WY	Weyerhaeuser Co.	13,472	$407K	0.1%	—	—	COM	962166104
—	Gates Industrial Corporation P	29,357	$404K	0.1%	—	—	COM	g39108108
—	Sundial Growers Inc.	128,170	$386K	0.1%	—	—	FOR	86730L109
AGCO	AGCO Corp	4,680	$362K	0.1%	—	—	COM	001084102
BRK/A	Berkshire Hathaway Inc. Class	1	$340K	0.1%	—	—	COM	084670108
TSM	Taiwan Semiconductor Manufactu	5,487	$319K	0.1%	—	—	FOR	874039100
ADBE	Adobe Systems Inc	926	$305K	0.1%	—	—	COM	00724F101
—	Dunkin Brands Group, Inc.	4,025	$304K	0.1%	—	—	COM	265504100
—	Alphabet, Inc Non-Voting Class	225	$301K	0.1%	—	—	COM	02079k107
GIS	General Mills	5,521	$296K	0.1%	—	—	COM	370334104
—	58.com Inc.	4,400	$285K	0.1%	—	—	FOR	31680q104
PH	Parker-Hannifin Corp.	1,370	$282K	0.1%	—	—	COM	701094104
TPR	Tapestry Inc.	10,145	$274K	0.1%	—	—	COM	876030107
QCOM	Qualcomm Inc	3,060	$270K	0.1%	—	—	COM	747525103
HPQ	HP Inc.	13,128	$270K	0.1%	—	—	COM	40434L105
—	General Electric Co.	23,504	$262K	0.0%	—	—	COM	369604103
AMZN	Amazon.com, Inc.	141	$261K	0.0%	—	—	COM	023135106
—	Discovery,Inc. Series C	8,391	$256K	0.0%	—	—	COM	25470F302
—	Laboratory Corp. of America	1,435	$243K	0.0%	—	—	COM	50540r409
FAST	Fastenal Co.	6,500	$240K	0.0%	—	—	COM	311900104
—	Interpublic Group	10,268	$237K	0.0%	—	—	COM	460690100
TM	Toyota Motor Corp ADR	1,670	$235K	0.0%	—	—	FOR	892331307
—	Enbridge Inc.	5,823	$232K	0.0%	—	—	FOR	29250n105
FOXA	Fox Corporation Class A	6,262	$232K	0.0%	—	—	COM	35137L105
—	Hewlett Packard Enterprise Co.	14,600	$232K	0.0%	—	—	COM	42824c109
—	Cypress Semiconductor	9,900	$231K	0.0%	—	—	COM	232806109
DLR	Digital Realty Trust	1,900	$228K	0.0%	—	—	COM	253868103
VALU	Value Line Inc.	7,740	$224K	0.0%	—	—	COM	920437100
—	Compass Minerals Intl.	3,665	$223K	0.0%	—	—	COM	20451n101
—	CDK Global, Inc.	3,967	$217K	0.0%	—	—	COM	12508e101
—	AON Plc	1,012	$211K	0.0%	—	—	FOR	g0408v102
ETR	Entergy Corp	1,750	$210K	0.0%	—	—	COM	29364G103
ITW	Illinois Tool Works Inc.	1,161	$209K	0.0%	—	—	COM	452308109
WM	Waste Management Inc. Del	1,782	$203K	0.0%	—	—	COM	94106L109
GAMI	GAMCO Investors Inc.	10,000	$195K	0.0%	—	—	COM	361438104
—	Waddell & Reed Financial	10,108	$169K	0.0%	—	—	COM	930059100
LYG	Lloyds TSB Group	39,000	$129K	0.0%	—	—	COM	539439109
—	Pyxus International Inc.	13,655	$122K	0.0%	—	—	COM	74737v106
F	Ford Motor Co.- New	12,682	$118K	0.0%	—	—	COM	345370860
—	RumbleOn, Inc.	64,009	$53,000	0.0%	—	—	COM	781386206
NOK	Nokia Corp Sponsored ADR	13,117	$49,000	0.0%	—	—	FOR	654902204
—	IsoRay, Inc.	14,218	$9,000	0.0%	—	—	COM	46489v104