Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	UnitedHealth Group Inc.	88,129	$25.99M	5.7%	—	—	COM	91324p102
MSFT	Microsoft Corp.	125,650	$25.57M	5.6%	—	—	COM	594918104
—	Mastercard Inc.	53,575	$15.84M	3.5%	—	—	COM	57636q104
PM	Philip Morris International	205,831	$14.42M	3.2%	—	—	COM	718172109
PEP	Pepsico Inc.	106,148	$14.04M	3.1%	—	—	COM	713448108
—	Medtronic PLC	144,080	$13.21M	2.9%	—	—	FOR	g5960L103
KR	Kroger Co.	378,651	$12.82M	2.8%	—	—	COM	501044101
ELV	Anthem, Inc.	48,549	$12.77M	2.8%	—	—	COM	036752103
JNJ	Johnson & Johnson	90,460	$12.72M	2.8%	—	—	COM	478160104
—	Merck & Co.Inc. New	126,311	$9.768M	2.2%	—	—	COM	58933y105
BK	Bank of New York Mellon Corp	240,579	$9.298M	2.1%	—	—	COM	064058100
—	Visa, Inc.	43,228	$8.35M	1.8%	—	—	COM	92826c839
—	Zimmer Biomet Holdings	69,959	$8.35M	1.8%	—	—	COM	98956p102
BAC	Bank of America Corp	339,972	$8.074M	1.8%	—	—	COM	060505104
ABT	Abbott Laboratories	87,945	$8.041M	1.8%	—	—	COM	002824100
—	The Travelers Companies Inc.	61,088	$6.967M	1.5%	—	—	COM	89417e109
HD	Home Depot Inc.	26,556	$6.653M	1.5%	—	—	COM	437076102
—	Biogen Inc.	24,312	$6.505M	1.4%	—	—	COM	09062x103
WMT	Wal Mart Stores	53,692	$6.431M	1.4%	—	—	COM	931142103
—	Altria Group Inc.	154,999	$6.084M	1.3%	—	—	COM	02209s103
CVS	CVS Health Corp.	92,912	$6.036M	1.3%	—	—	COM	126650100
—	Cerner Corporation	82,240	$5.638M	1.2%	—	—	COM	156782104
—	Alphabet, Inc Voting Class	3,854	$5.465M	1.2%	—	—	COM	02079k305
KO	Coca-Cola Company	121,253	$5.418M	1.2%	—	—	COM	191216100
—	Unilever NV New York Shs	92,813	$4.944M	1.1%	—	—	FOR	904784709
BP	BP p.l.c.	207,229	$4.833M	1.1%	—	—	FOR	055622104
BRK/B	Berkshire Hathaway Inc. Class	26,320	$4.698M	1.0%	—	—	COM	084670702
LOW	Lowes Companies	34,645	$4.681M	1.0%	—	—	COM	548661107
—	LyondellBasell Industries N.V.	71,118	$4.674M	1.0%	—	—	FOR	n53745100
AFL	AFLAC Inc.	126,235	$4.548M	1.0%	—	—	COM	001055102
BDX	Becton Dickinson & Co	18,790	$4.496M	1.0%	—	—	COM	075887109
GLW	Corning Inc	171,201	$4.434M	1.0%	—	—	COM	219350105
CI	Cigna Corp	22,727	$4.265M	0.9%	—	—	COM	125523100
DGX	Quest Diagnostics Inc.	37,045	$4.222M	0.9%	—	—	COM	74834L100
—	Discovery,Inc. Series A	197,397	$4.165M	0.9%	—	—	COM	25470f104
MRSH	Marsh & McLennan Co.	36,862	$3.958M	0.9%	—	—	COM	571748102
C	Citigroup Inc.	77,120	$3.941M	0.9%	—	—	COM	172967424
—	Comcast Corp Cl A	100,527	$3.919M	0.9%	—	—	COM	20030n101
—	Valero Energy Corp.	62,459	$3.674M	0.8%	—	—	COM	91913y100
—	Molson Coors Brewing Co	106,801	$3.67M	0.8%	—	—	COM	60871r209
AAPL	Apple, Inc.	9,680	$3.531M	0.8%	—	—	COM	037833100
BKNG	Booking Holdings Inc.	2,210	$3.519M	0.8%	—	—	COM	09857L108
—	AbbVie, Inc.	35,542	$3.49M	0.8%	—	—	COM	00287y109
PG	Procter & Gamble Co.	28,177	$3.369M	0.7%	—	—	COM	742718109
PAYX	Paychex Inc.	44,060	$3.338M	0.7%	—	—	COM	704326107
AIG	American International Group	103,532	$3.228M	0.7%	—	—	COM	026874784
—	Facebook, Inc.	14,085	$3.198M	0.7%	—	—	COM	30303m102
—	DuPont de Nemours, Inc	57,918	$3.077M	0.7%	—	—	COM	26614n102
—	Costco Wholesale Corp	9,720	$2.947M	0.7%	—	—	COM	22160k105
BEN	Franklin Resources Inc.	133,848	$2.807M	0.6%	—	—	COM	354613101
BA	Boeing Company	15,206	$2.787M	0.6%	—	—	COM	097023105
PFE	Pfizer Inc.	84,673	$2.769M	0.6%	—	—	COM	717081103
CTSH	Cognizant Technology Solutions	46,933	$2.667M	0.6%	—	—	COM	192446102
CE	Celanese Corp	29,925	$2.584M	0.6%	—	—	COM	150870103
BTI	British American Tobacco	66,210	$2.57M	0.6%	—	—	FOR	110448107
CSCO	Cisco Sys Inc.	54,291	$2.532M	0.6%	—	—	COM	17275R102
—	America Movil ADR	198,469	$2.519M	0.6%	—	—	FOR	02364W105
—	Monster Beverage Corp.	35,800	$2.482M	0.5%	—	—	COM	61174x109
CVX	Chevron Corp.	27,699	$2.472M	0.5%	—	—	COM	166764100
DOW	Dow Inc.	58,476	$2.383M	0.5%	—	—	COM	260557103
—	Glaxo SmithKline PLC	56,546	$2.307M	0.5%	—	—	FOR	37733W105
MCD	McDonalds Corp	12,120	$2.236M	0.5%	—	—	COM	580135101
—	Credit Suisse Group ADR	213,868	$2.205M	0.5%	—	—	FOR	225401108
FDX	Fedex Corp	15,098	$2.117M	0.5%	—	—	COM	31428X106
VZ	Verizon Communications	37,960	$2.093M	0.5%	—	—	COM	92343V104
MDLZ	Mondelez International, Inc.	38,254	$1.956M	0.4%	—	—	COM	609207105
—	Raytheon Technologies	30,516	$1.88M	0.4%	—	—	COM	75513e101
DIS	The Walt Disney Co.	16,732	$1.866M	0.4%	—	—	COM	254687106
UPS	United Parcel Service Inc.	16,645	$1.851M	0.4%	—	—	COM	911312106
UNP	Union Pacific Corp	10,515	$1.778M	0.4%	—	—	COM	907818108
—	Diageo PLC ADR	12,554	$1.687M	0.4%	—	—	FOR	25243q205
NKE	Nike Inc Class B	16,550	$1.623M	0.4%	—	—	COM	654106103
INTC	Intel Corp.	26,981	$1.614M	0.4%	—	—	COM	458140100
CPF	Central Pacific Financial Co	98,797	$1.584M	0.3%	—	—	COM	154760409
CTVA	Corteva, Inc.	58,593	$1.57M	0.3%	—	—	COM	22052L104
TELFY	Telefonica S.A. ADR	307,138	$1.48M	0.3%	—	—	FOR	879382208
ADP	Automatic Data Processing	9,447	$1.407M	0.3%	—	—	COM	053015103
PSX	Phillips 66	19,007	$1.367M	0.3%	—	—	COM	718546104
—	ConocoPhillips	30,519	$1.282M	0.3%	—	—	COM	20825c104
—	Arcos Dorados Hldgs.	301,118	$1.262M	0.3%	—	—	FOR	g0457f107
WAFD	Washington Federal	46,512	$1.248M	0.3%	—	—	COM	938824109
AMGN	Amgen Inc.	5,158	$1.217M	0.3%	—	—	COM	031162100
—	Unum Group	72,187	$1.198M	0.3%	—	—	COM	91529y106
—	AT & T, Inc. New	38,490	$1.164M	0.3%	—	—	COM	00206r102
YUM	Yum! Brands, Inc.	13,137	$1.142M	0.3%	—	—	COM	988498101
—	Sally Beauty Holdings Inc.	86,486	$1.084M	0.2%	—	—	COM	79546e104
SBUX	Starbucks Corp	13,893	$1.022M	0.2%	—	—	COM	855244109
—	General Motors Company	38,799	$982K	0.2%	—	—	COM	37045v100
BMY	Bristol Myers Squibb Co.	16,206	$953K	0.2%	—	—	COM	110122108
—	Manitex Intl	190,006	$944K	0.2%	—	—	COM	563420108
—	DR Horton, Inc	17,000	$943K	0.2%	—	—	COM	23331a109
CAG	ConAgra Foods Inc.	26,625	$936K	0.2%	—	—	COM	205887102
HRB	H & R Block Inc.	65,017	$928K	0.2%	—	—	COM	093671105
—	Trane Technologies PLC	10,355	$921K	0.2%	—	—	FOR	g8994e103
GILD	Gilead Sciences Inc.	11,750	$904K	0.2%	—	—	COM	375558103
WFC	Wells Fargo & Co.	34,739	$889K	0.2%	—	—	COM	949746101
AXP	American Express Co.	8,803	$838K	0.2%	—	—	COM	025816109
—	The Mosaic Company	66,406	$831K	0.2%	—	—	COM	61945c103
LINC	Lincoln Educational	204,261	$797K	0.2%	—	—	COM	533535100
—	FirstService Corp Voting Share	7,410	$747K	0.2%	—	—	FOR	33767e103
ORCL	Oracle Corp	12,653	$699K	0.2%	—	—	COM	68389X105
—	Ameriprise Financial Inc.	4,638	$696K	0.2%	—	—	COM	03076c106
—	Textainer Group Holdings Limit	80,150	$656K	0.1%	—	—	FOR	g8766e109
XOM	Exxon Mobil Corp	13,973	$625K	0.1%	—	—	COM	30231G102
LW	Lamb Weston Holdings	9,509	$608K	0.1%	—	—	COM	513272104
WU	Western Union Company	27,984	$605K	0.1%	—	—	COM	959802109
—	Royal Dutch Shell PLC A	18,503	$605K	0.1%	—	—	FOR	780259206
—	Yum China Holdings, Inc.	12,102	$582K	0.1%	—	—	FOR	98850p109
—	Alkermes PLC	27,391	$532K	0.1%	—	—	FOR	g01767105
—	58.com Inc.	9,400	$507K	0.1%	—	—	FOR	31680q104
CAT	Caterpillar Inc.	3,865	$489K	0.1%	—	—	COM	149123101
FORR	Forrester Research Inc.	14,000	$449K	0.1%	—	—	COM	346563109
ALK	Alaska Air Group Inc.	11,965	$434K	0.1%	—	—	COM	011659109
—	CenturyLink Inc.	41,800	$419K	0.1%	—	—	COM	156700106
CIGI	Colliers International Group	7,160	$410K	0.1%	—	—	FOR	194693107
KHC	The Kraft Heinz Company	12,557	$400K	0.1%	—	—	COM	500754106
AMZN	Amazon.com, Inc.	141	$389K	0.1%	—	—	COM	023135106
—	Keurig Dr. Pepper Inc.	13,449	$382K	0.1%	—	—	COM	49271v100
—	WW International, Inc.	14,787	$375K	0.1%	—	—	COM	98262p101
—	Allegion PLC	3,637	$372K	0.1%	—	—	FOR	g0176j109
DAL	Delta Airlines - New	13,250	$372K	0.1%	—	—	COM	247361702
USB	US Bancorp Delaware New	9,635	$355K	0.1%	—	—	COM	902973304
ADBE	Adobe Systems Inc	806	$351K	0.1%	—	—	COM	00724F101
—	Dunkin Brands Group, Inc.	5,125	$334K	0.1%	—	—	COM	265504100
GIS	General Mills	5,221	$322K	0.1%	—	—	COM	370334104
—	Alphabet, Inc Non-Voting Class	225	$318K	0.1%	—	—	COM	02079k107
TSM	Taiwan Semiconductor Manufactu	5,487	$311K	0.1%	—	—	FOR	874039100
WY	Weyerhaeuser Co.	13,472	$303K	0.1%	—	—	COM	962166104
—	ManpowerGroup Inc.	4,400	$302K	0.1%	—	—	COM	56418h100
—	Gates Industrial Corporation P	29,357	$302K	0.1%	—	—	COM	g39108108
—	ViacomCBS Inc. B	12,409	$289K	0.1%	—	—	COM	92556h206
QCOM	Qualcomm Inc	3,060	$279K	0.1%	—	—	COM	747525103
—	PayPal Holdings, Inc.	1,567	$273K	0.1%	—	—	COM	70450y103
DLR	Digital Realty Trust	1,900	$270K	0.1%	—	—	COM	253868103
PH	Parker-Hannifin Corp.	1,420	$260K	0.1%	—	—	COM	701094104
—	Ingersoll Rand Inc.	9,163	$258K	0.1%	—	—	COM	45687v106
AGCO	AGCO Corp	4,650	$258K	0.1%	—	—	COM	001084102
—	Laboratory Corp. of America	1,385	$230K	0.1%	—	—	COM	50540r409
HPQ	HP Inc.	12,638	$220K	0.0%	—	—	COM	40434L105
TM	Toyota Motor Corp ADR	1,670	$210K	0.0%	—	—	FOR	892331307
—	General Electric Co.	23,246	$159K	0.0%	—	—	COM	369604103
—	Hewlett Packard Enterprise Co.	14,210	$138K	0.0%	—	—	COM	42824c109
F	Ford Motor Co.- New	12,282	$75,000	0.0%	—	—	COM	345370860
NOK	Nokia Corp Sponsored ADR	17,037	$75,000	0.0%	—	—	FOR	654902204
LYG	Lloyds TSB Group	39,000	$58,000	0.0%	—	—	COM	539439109
—	Sundial Growers Inc.	36,000	$29,000	0.0%	—	—	FOR	86730L109
—	IsoRay, Inc.	14,218	$8,000	0.0%	—	—	COM	46489v104