Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	UnitedHealth Group Inc.	88,129	$27.48M	5.7%	—	—	COM	91324p102
MSFT	Microsoft Corp.	125,422	$26.38M	5.5%	—	—	COM	594918104
—	Mastercard Inc.	52,505	$17.76M	3.7%	—	—	COM	57636q104
PM	Philip Morris International	206,131	$15.46M	3.2%	—	—	COM	718172109
—	Medtronic PLC	144,015	$14.97M	3.1%	—	—	FOR	g5960L103
PEP	Pepsico Inc.	106,083	$14.7M	3.1%	—	—	COM	713448108
JNJ	Johnson & Johnson	90,215	$13.43M	2.8%	—	—	COM	478160104
ELV	Anthem, Inc.	48,629	$13.06M	2.7%	—	—	COM	036752103
KR	Kroger Co.	378,276	$12.83M	2.7%	—	—	COM	501044101
—	Merck & Co.Inc. New	126,291	$10.48M	2.2%	—	—	COM	58933y105
—	Zimmer Biomet Holdings	69,849	$9.509M	2.0%	—	—	COM	98956p102
ABT	Abbott Laboratories	86,208	$9.382M	2.0%	—	—	COM	002824100
—	Visa, Inc.	43,228	$8.644M	1.8%	—	—	COM	92826c839
BK	Bank of New York Mellon Corp	240,104	$8.245M	1.7%	—	—	COM	064058100
BAC	Bank of America Corp	339,887	$8.188M	1.7%	—	—	COM	060505104
WMT	Wal Mart Stores	53,667	$7.509M	1.6%	—	—	COM	931142103
HD	Home Depot Inc.	26,556	$7.375M	1.5%	—	—	COM	437076102
—	Biogen Inc.	24,267	$6.884M	1.4%	—	—	COM	09062x103
—	The Travelers Companies Inc.	61,058	$6.606M	1.4%	—	—	COM	89417e109
—	Alphabet, Inc Voting Class	4,307	$6.312M	1.3%	—	—	COM	02079k305
—	Altria Group Inc.	154,934	$5.987M	1.3%	—	—	COM	02209s103
KO	Coca-Cola Company	121,153	$5.981M	1.3%	—	—	COM	191216100
—	Cerner Corporation	80,865	$5.846M	1.2%	—	—	COM	156782104
LOW	Lowes Companies	34,645	$5.746M	1.2%	—	—	COM	548661107
—	Unilever NV New York Shs	92,698	$5.599M	1.2%	—	—	FOR	904784709
BRK/B	Berkshire Hathaway Inc. Class	26,208	$5.581M	1.2%	—	—	COM	084670702
CVS	CVS Health Corp.	95,198	$5.56M	1.2%	—	—	COM	126650100
GLW	Corning Inc	171,201	$5.549M	1.2%	—	—	COM	219350105
—	LyondellBasell Industries N.V.	71,118	$5.013M	1.0%	—	—	FOR	n53745100
—	Comcast Corp Cl A	100,112	$4.631M	1.0%	—	—	COM	20030n101
AFL	AFLAC Inc.	126,235	$4.589M	1.0%	—	—	COM	001055102
AAPL	Apple, Inc.	38,705	$4.482M	0.9%	—	—	COM	037833100
BDX	Becton Dickinson & Co	18,790	$4.372M	0.9%	—	—	COM	075887109
—	Discovery,Inc. Series A	195,332	$4.252M	0.9%	—	—	COM	25470f104
DGX	Quest Diagnostics Inc.	36,995	$4.236M	0.9%	—	—	COM	74834L100
MRSH	Marsh & McLennan Co.	36,787	$4.219M	0.9%	—	—	COM	571748102
CI	Cigna Corp	23,612	$4M	0.8%	—	—	COM	125523100
PG	Procter & Gamble Co.	28,067	$3.901M	0.8%	—	—	COM	742718109
BKNG	Booking Holdings Inc.	2,204	$3.77M	0.8%	—	—	COM	09857L108
—	Molson Coors Brewing Co	110,126	$3.696M	0.8%	—	—	COM	60871r209
FDX	Fedex Corp	14,473	$3.64M	0.8%	—	—	COM	31428X106
—	Facebook, Inc.	13,865	$3.631M	0.8%	—	—	COM	30303m102
BP	BP p.l.c.	205,654	$3.591M	0.8%	—	—	FOR	055622104
PAYX	Paychex Inc.	43,925	$3.504M	0.7%	—	—	COM	704326107
—	Costco Wholesale Corp	9,710	$3.447M	0.7%	—	—	COM	22160k105
C	Citigroup Inc.	77,020	$3.32M	0.7%	—	—	COM	172967424
CE	Celanese Corp	29,925	$3.215M	0.7%	—	—	COM	150870103
—	DuPont de Nemours, Inc	57,885	$3.211M	0.7%	—	—	COM	26614n102
—	AbbVie, Inc.	36,562	$3.202M	0.7%	—	—	COM	00287y109
PFE	Pfizer Inc.	85,126	$3.124M	0.7%	—	—	COM	717081103
CTSH	Cognizant Technology Solutions	44,613	$3.097M	0.6%	—	—	COM	192446102
—	Monster Beverage Corp.	35,800	$2.871M	0.6%	—	—	COM	61174x109
AIG	American International Group	103,467	$2.848M	0.6%	—	—	COM	026874784
DOW	Dow Inc.	58,576	$2.756M	0.6%	—	—	COM	260557103
UPS	United Parcel Service Inc.	16,471	$2.745M	0.6%	—	—	COM	911312106
BTI	British American Tobacco	75,660	$2.735M	0.6%	—	—	FOR	110448107
BEN	Franklin Resources Inc.	133,388	$2.714M	0.6%	—	—	COM	354613101
—	Valero Energy Corp.	62,059	$2.688M	0.6%	—	—	COM	91913y100
MCD	McDonalds Corp	12,095	$2.655M	0.6%	—	—	COM	580135101
BA	Boeing Company	15,186	$2.51M	0.5%	—	—	COM	097023105
—	America Movil ADR	197,419	$2.466M	0.5%	—	—	FOR	02364W105
VZ	Verizon Communications	37,650	$2.24M	0.5%	—	—	COM	92343V104
MDLZ	Mondelez International, Inc.	38,254	$2.198M	0.5%	—	—	COM	609207105
CSCO	Cisco Sys Inc.	54,121	$2.132M	0.4%	—	—	COM	17275R102
—	Credit Suisse Group ADR	213,723	$2.131M	0.4%	—	—	FOR	225401108
—	Glaxo SmithKline PLC	56,246	$2.117M	0.4%	—	—	FOR	37733W105
NKE	Nike Inc Class B	16,550	$2.078M	0.4%	—	—	COM	654106103
UNP	Union Pacific Corp	10,490	$2.065M	0.4%	—	—	COM	907818108
DIS	The Walt Disney Co.	16,612	$2.061M	0.4%	—	—	COM	254687106
CVX	Chevron Corp.	27,699	$1.994M	0.4%	—	—	COM	166764100
—	Raytheon Technologies	30,516	$1.756M	0.4%	—	—	COM	75513e101
—	Diageo PLC ADR	12,554	$1.728M	0.4%	—	—	FOR	25243q205
CTVA	Corteva, Inc.	58,593	$1.688M	0.4%	—	—	COM	22052L104
INTC	Intel Corp.	26,931	$1.394M	0.3%	—	—	COM	458140100
CPF	Central Pacific Financial Co	98,597	$1.338M	0.3%	—	—	COM	154760409
AMGN	Amgen Inc.	5,128	$1.303M	0.3%	—	—	COM	031162100
—	DR Horton, Inc	16,900	$1.278M	0.3%	—	—	COM	23331a109
—	Trane Technologies PLC	10,355	$1.256M	0.3%	—	—	FOR	g8994e103
—	Arcos Dorados Hldgs.	300,824	$1.233M	0.3%	—	—	FOR	g0457f107
—	The Mosaic Company	66,206	$1.21M	0.3%	—	—	COM	61945c103
—	Unum Group	71,351	$1.201M	0.3%	—	—	COM	91529y106
YUM	Yum! Brands, Inc.	13,137	$1.199M	0.3%	—	—	COM	988498101
SBUX	Starbucks Corp	13,793	$1.185M	0.2%	—	—	COM	855244109
ADP	Automatic Data Processing	8,337	$1.163M	0.2%	—	—	COM	053015103
—	General Motors Company	38,799	$1.148M	0.2%	—	—	COM	37045v100
—	Textainer Group Holdings Limit	80,100	$1.134M	0.2%	—	—	FOR	g8766e109
LINC	Lincoln Educational	204,061	$1.126M	0.2%	—	—	COM	533535100
—	AT & T, Inc. New	38,167	$1.088M	0.2%	—	—	COM	00206r102
BMY	Bristol Myers Squibb Co.	17,439	$1.051M	0.2%	—	—	COM	110122108
HRB	H & R Block Inc.	63,667	$1.037M	0.2%	—	—	COM	093671105
TELFY	Telefonica S.A. ADR	299,386	$1.03M	0.2%	—	—	FOR	879382208
—	ConocoPhillips	30,044	$987K	0.2%	—	—	COM	20825c104
PSX	Phillips 66	18,962	$983K	0.2%	—	—	COM	718546104
—	FirstService Corp Voting Share	7,410	$977K	0.2%	—	—	FOR	33767e103
GILD	Gilead Sciences Inc.	15,453	$976K	0.2%	—	—	COM	375558103
WAFD	Washington Federal	46,512	$970K	0.2%	—	—	COM	938824109
CAG	ConAgra Foods Inc.	26,575	$949K	0.2%	—	—	COM	205887102
AXP	American Express Co.	8,658	$868K	0.2%	—	—	COM	025816109
WFC	Wells Fargo & Co.	35,564	$836K	0.2%	—	—	COM	949746101
—	Manitex Intl	188,506	$786K	0.2%	—	—	COM	563420108
ORCL	Oracle Corp	12,653	$755K	0.2%	—	—	COM	68389X105
—	Sally Beauty Holdings Inc.	85,686	$745K	0.2%	—	—	COM	79546e104
—	Ameriprise Financial Inc.	4,638	$715K	0.1%	—	—	COM	03076c106
—	Yum China Holdings, Inc.	12,102	$641K	0.1%	—	—	FOR	98850p109
LW	Lamb Weston Holdings	9,509	$630K	0.1%	—	—	COM	513272104
FORR	Forrester Research Inc.	19,050	$625K	0.1%	—	—	COM	346563109
WU	Western Union Company	27,835	$597K	0.1%	—	—	COM	959802109
CAT	Caterpillar Inc.	3,540	$528K	0.1%	—	—	COM	149123101
XOM	Exxon Mobil Corp	13,973	$480K	0.1%	—	—	COM	30231G102
CIGI	Colliers International Group	7,160	$478K	0.1%	—	—	FOR	194693107
—	Royal Dutch Shell PLC A	18,503	$466K	0.1%	—	—	FOR	780259206
—	Alkermes PLC	27,366	$453K	0.1%	—	—	FOR	g01767105
TSM	Taiwan Semiconductor Manufactu	5,487	$445K	0.1%	—	—	FOR	874039100
AMZN	Amazon.com, Inc.	141	$444K	0.1%	—	—	COM	023135106
CAE	CAE Inc.	30,135	$441K	0.1%	—	—	FOR	124765108
ALK	Alaska Air Group Inc.	11,495	$421K	0.1%	—	—	COM	011659109
LUMN	Lumen Technologies, Inc.	41,150	$415K	0.1%	—	—	COM	550241103
—	Dunkin Brands Group, Inc.	4,825	$395K	0.1%	—	—	COM	265504100
ADBE	Adobe Systems Inc	806	$395K	0.1%	—	—	COM	00724F101
DAL	Delta Airlines - New	12,650	$387K	0.1%	—	—	COM	247361702
WY	Weyerhaeuser Co.	13,272	$379K	0.1%	—	—	COM	962166104
KHC	The Kraft Heinz Company	12,457	$373K	0.1%	—	—	COM	500754106
—	Keurig Dr. Pepper Inc.	13,399	$370K	0.1%	—	—	COM	49271v100
—	Allegion PLC	3,637	$360K	0.1%	—	—	FOR	g0176j109
QCOM	Qualcomm Inc	3,060	$360K	0.1%	—	—	COM	747525103
AGCO	AGCO Corp	4,650	$345K	0.1%	—	—	COM	001084102
USB	US Bancorp Delaware New	9,535	$342K	0.1%	—	—	COM	902973304
—	ViacomCBS Inc. B	12,095	$339K	0.1%	—	—	COM	92556h206
—	Alphabet, Inc Non-Voting Class	225	$331K	0.1%	—	—	COM	02079k107
—	Ingersoll Rand Inc.	9,163	$326K	0.1%	—	—	COM	45687v106
—	Gates Industrial Corporation P	29,357	$326K	0.1%	—	—	COM	g39108108
—	ManpowerGroup Inc.	4,400	$323K	0.1%	—	—	COM	56418h100
—	PayPal Holdings, Inc.	1,567	$309K	0.1%	—	—	COM	70450y103
GIS	General Mills	4,821	$297K	0.1%	—	—	COM	370334104
DLR	Digital Realty Trust	1,900	$279K	0.1%	—	—	COM	253868103
—	WW International, Inc.	14,597	$275K	0.1%	—	—	COM	98262p101
—	AON Plc	1,327	$274K	0.1%	—	—	FOR	g0403h108
—	Laboratory Corp. of America	1,380	$260K	0.1%	—	—	COM	50540r409
PH	Parker-Hannifin Corp.	1,195	$242K	0.1%	—	—	COM	701094104
HPQ	HP Inc.	12,368	$235K	0.0%	—	—	COM	40434L105
TM	Toyota Motor Corp ADR	1,670	$221K	0.0%	—	—	FOR	892331307
ITW	Illinois Tool Works Inc.	1,121	$217K	0.0%	—	—	COM	452308109
—	Compass Minerals Intl.	3,620	$215K	0.0%	—	—	COM	20451n101
WM	Waste Management Inc. Del	1,782	$202K	0.0%	—	—	COM	94106L109
—	General Electric Co.	22,591	$141K	0.0%	—	—	COM	369604103
—	Hewlett Packard Enterprise Co.	13,365	$125K	0.0%	—	—	COM	42824c109
F	Ford Motor Co.- New	11,932	$79,000	0.0%	—	—	COM	345370860
NOK	Nokia Corp Sponsored ADR	17,037	$67,000	0.0%	—	—	FOR	654902204
LYG	Lloyds TSB Group	19,500	$25,000	0.0%	—	—	COM	539439109
—	IsoRay, Inc.	14,218	$8,000	0.0%	—	—	COM	46489v104