Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	UnitedHealth Group Inc.	87,934	$30.84M	5.7%	—	—	COM	91324p102
MSFT	Microsoft Corp.	125,144	$27.84M	5.2%	—	—	COM	594918104
—	Mastercard Inc.	52,505	$18.74M	3.5%	—	—	COM	57636q104
PM	Philip Morris International	209,331	$17.33M	3.2%	—	—	COM	718172109
—	Medtronic PLC	143,882	$16.85M	3.1%	—	—	FOR	g5960L103
PEP	Pepsico Inc.	105,493	$15.64M	2.9%	—	—	COM	713448108
ELV	Anthem, Inc.	48,569	$15.6M	2.9%	—	—	COM	036752103
JNJ	Johnson & Johnson	89,948	$14.16M	2.6%	—	—	COM	478160104
KR	Kroger Co.	378,261	$12.01M	2.2%	—	—	COM	501044101
—	Zimmer Biomet Holdings	68,664	$10.58M	2.0%	—	—	COM	98956p102
—	Merck & Co.Inc. New	127,131	$10.4M	1.9%	—	—	COM	58933y105
BAC	Bank of America Corp	340,373	$10.32M	1.9%	—	—	COM	060505104
BK	Bank of New York Mellon Corp	239,654	$10.17M	1.9%	—	—	COM	064058100
—	Visa, Inc.	43,107	$9.429M	1.7%	—	—	COM	92826c839
ABT	Abbott Laboratories	85,793	$9.393M	1.7%	—	—	COM	002824100
—	The Travelers Companies Inc.	60,948	$8.555M	1.6%	—	—	COM	89417e109
WMT	Wal Mart Stores	53,537	$7.717M	1.4%	—	—	COM	931142103
—	Alphabet, Inc Voting Class	4,305	$7.545M	1.4%	—	—	COM	02079k305
CVS	CVS Health Corp.	103,448	$7.065M	1.3%	—	—	COM	126650100
HD	Home Depot Inc.	26,503	$7.04M	1.3%	—	—	COM	437076102
KO	Coca-Cola Company	121,031	$6.637M	1.2%	—	—	COM	191216100
—	Altria Group Inc.	159,534	$6.541M	1.2%	—	—	COM	02209s103
—	LyondellBasell Industries N.V.	70,918	$6.5M	1.2%	—	—	FOR	n53745100
—	Cerner Corporation	80,815	$6.342M	1.2%	—	—	COM	156782104
BRK/B	Berkshire Hathaway Inc. Class	26,098	$6.051M	1.1%	—	—	COM	084670702
GLW	Corning Inc	168,051	$6.05M	1.1%	—	—	COM	219350105
—	Biogen Inc.	24,387	$5.971M	1.1%	—	—	COM	09062x103
—	Discovery,Inc. Series A	193,650	$5.827M	1.1%	—	—	COM	25470f104
AFL	AFLAC Inc.	129,935	$5.778M	1.1%	—	—	COM	001055102
—	Unilever PCL ADR	92,548	$5.586M	1.0%	—	—	FOR	904784709
LOW	Lowes Companies	34,590	$5.552M	1.0%	—	—	COM	548661107
—	Comcast Corp Cl A	99,767	$5.228M	1.0%	—	—	COM	20030n101
AAPL	Apple, Inc.	38,695	$5.134M	1.0%	—	—	COM	037833100
—	Molson Coors Brewing Co	112,826	$5.099M	0.9%	—	—	COM	60871r209
CI	Cigna Corp	23,712	$4.936M	0.9%	—	—	COM	125523100
BKNG	Booking Holdings Inc.	2,202	$4.904M	0.9%	—	—	COM	09857L108
C	Citigroup Inc.	77,116	$4.755M	0.9%	—	—	COM	172967424
BDX	Becton Dickinson & Co	18,790	$4.702M	0.9%	—	—	COM	075887109
DGX	Quest Diagnostics Inc.	36,965	$4.405M	0.8%	—	—	COM	74834L100
MRSH	Marsh & McLennan Co.	36,637	$4.287M	0.8%	—	—	COM	571748102
BP	BP p.l.c.	204,279	$4.192M	0.8%	—	—	FOR	055622104
—	DuPont de Nemours, Inc	57,643	$4.099M	0.8%	—	—	COM	26614n102
PAYX	Paychex Inc.	43,700	$4.072M	0.8%	—	—	COM	704326107
—	AbbVie, Inc.	37,182	$3.984M	0.7%	—	—	COM	00287y109
AIG	American International Group	103,967	$3.936M	0.7%	—	—	COM	026874784
PG	Procter & Gamble Co.	28,045	$3.902M	0.7%	—	—	COM	742718109
CE	Celanese Corp	29,765	$3.868M	0.7%	—	—	COM	150870103
—	Facebook, Inc.	13,865	$3.787M	0.7%	—	—	COM	30303m102
FDX	Fedex Corp	14,405	$3.74M	0.7%	—	—	COM	31428X106
—	Costco Wholesale Corp	9,617	$3.623M	0.7%	—	—	COM	22160k105
CTSH	Cognizant Technology Solutions	43,943	$3.601M	0.7%	—	—	COM	192446102
—	Valero Energy Corp.	61,957	$3.505M	0.7%	—	—	COM	91913y100
—	Monster Beverage Corp.	35,800	$3.311M	0.6%	—	—	COM	61174x109
BEN	Franklin Resources Inc.	132,168	$3.303M	0.6%	—	—	COM	354613101
BA	Boeing Company	15,186	$3.251M	0.6%	—	—	COM	097023105
DOW	Dow Inc.	58,443	$3.244M	0.6%	—	—	COM	260557103
BTI	British American Tobacco	84,635	$3.173M	0.6%	—	—	FOR	110448107
PFE	Pfizer Inc.	85,026	$3.13M	0.6%	—	—	COM	717081103
DIS	The Walt Disney Co.	16,562	$3.001M	0.6%	—	—	COM	254687106
—	America Movil ADR	193,194	$2.809M	0.5%	—	—	FOR	02364W105
UPS	United Parcel Service Inc.	16,569	$2.79M	0.5%	—	—	COM	911312106
—	Credit Suisse Group ADR	213,123	$2.728M	0.5%	—	—	FOR	225401108
MCD	McDonalds Corp	12,073	$2.591M	0.5%	—	—	COM	580135101
CSCO	Cisco Sys Inc.	53,896	$2.412M	0.4%	—	—	COM	17275R102
CVX	Chevron Corp.	27,699	$2.339M	0.4%	—	—	COM	166764100
NKE	Nike Inc Class B	16,030	$2.268M	0.4%	—	—	COM	654106103
CTVA	Corteva, Inc.	58,387	$2.261M	0.4%	—	—	COM	22052L104
VZ	Verizon Communications	37,446	$2.2M	0.4%	—	—	COM	92343V104
MDLZ	Mondelez International, Inc.	37,511	$2.193M	0.4%	—	—	COM	609207105
—	Raytheon Technologies	30,516	$2.182M	0.4%	—	—	COM	75513e101
UNP	Union Pacific Corp	10,477	$2.182M	0.4%	—	—	COM	907818108
—	Glaxo SmithKline PLC	56,106	$2.065M	0.4%	—	—	FOR	37733W105
BMY	Bristol Myers Squibb Co.	32,009	$1.986M	0.4%	—	—	COM	110122108
—	Diageo PLC ADR	12,479	$1.982M	0.4%	—	—	FOR	25243q205
—	Arcos Dorados Hldgs.	386,664	$1.945M	0.4%	—	—	FOR	g0457f107
CPF	Central Pacific Financial Co	101,597	$1.931M	0.4%	—	—	COM	154760409
—	Unum Group	71,072	$1.63M	0.3%	—	—	COM	91529y106
—	General Motors Company	38,799	$1.616M	0.3%	—	—	COM	37045v100
—	Textainer Group Holdings Limit	79,950	$1.533M	0.3%	—	—	FOR	g8766e109
—	The Mosaic Company	66,106	$1.521M	0.3%	—	—	COM	61945c103
—	Trane Technologies PLC	10,305	$1.496M	0.3%	—	—	FOR	g8994e103
SBUX	Starbucks Corp	13,852	$1.482M	0.3%	—	—	COM	855244109
ADP	Automatic Data Processing	8,187	$1.443M	0.3%	—	—	COM	053015103
YUM	Yum! Brands, Inc.	13,137	$1.426M	0.3%	—	—	COM	988498101
LINC	Lincoln Educational	213,567	$1.388M	0.3%	—	—	COM	533535100
INTC	Intel Corp.	27,001	$1.345M	0.2%	—	—	COM	458140100
PSX	Phillips 66	18,962	$1.326M	0.2%	—	—	COM	718546104
—	ConocoPhillips	29,844	$1.193M	0.2%	—	—	COM	20825c104
WAFD	Washington Federal	46,212	$1.189M	0.2%	—	—	COM	938824109
AMGN	Amgen Inc.	5,128	$1.179M	0.2%	—	—	COM	031162100
—	DR Horton, Inc	16,900	$1.165M	0.2%	—	—	COM	23331a109
WFC	Wells Fargo & Co.	37,189	$1.122M	0.2%	—	—	COM	949746101
—	Sally Beauty Holdings Inc.	85,686	$1.117M	0.2%	—	—	COM	79546e104
—	AT & T, Inc. New	37,331	$1.074M	0.2%	—	—	COM	00206r102
TELFY	Telefonica S.A. ADR	265,527	$1.073M	0.2%	—	—	FOR	879382208
AXP	American Express Co.	8,558	$1.035M	0.2%	—	—	COM	025816109
—	FirstService Corp Voting Share	7,410	$1.013M	0.2%	—	—	FOR	33767e103
HRB	H & R Block Inc.	62,917	$998K	0.2%	—	—	COM	093671105
—	Manitex Intl	188,506	$973K	0.2%	—	—	COM	563420108
CAG	ConAgra Foods Inc.	26,475	$960K	0.2%	—	—	COM	205887102
—	Ameriprise Financial Inc.	4,638	$901K	0.2%	—	—	COM	03076c106
CAE	CAE Inc.	30,135	$836K	0.2%	—	—	FOR	124765108
GILD	Gilead Sciences Inc.	14,098	$821K	0.2%	—	—	COM	375558103
ORCL	Oracle Corp	12,653	$819K	0.2%	—	—	COM	68389X105
FORR	Forrester Research Inc.	19,050	$798K	0.1%	—	—	COM	346563109
LW	Lamb Weston Holdings	9,484	$747K	0.1%	—	—	COM	513272104
—	Yum China Holdings, Inc.	12,102	$691K	0.1%	—	—	FOR	98850p109
—	Royal Dutch Shell PLC A	18,503	$650K	0.1%	—	—	FOR	780259206
CAT	Caterpillar Inc.	3,540	$644K	0.1%	—	—	COM	149123101
—	AON Plc	3,027	$640K	0.1%	—	—	FOR	g0403h108
CIGI	Colliers International Group	7,160	$638K	0.1%	—	—	FOR	194693107
WU	Western Union Company	27,531	$604K	0.1%	—	—	COM	959802109
TSM	Taiwan Semiconductor Manufactu	5,487	$598K	0.1%	—	—	FOR	874039100
XOM	Exxon Mobil Corp	13,735	$566K	0.1%	—	—	COM	30231G102
—	Alkermes PLC	27,366	$546K	0.1%	—	—	FOR	g01767105
AMZN	Amazon.com, Inc.	166	$541K	0.1%	—	—	COM	023135106
ALK	Alaska Air Group Inc.	10,145	$528K	0.1%	—	—	COM	011659109
—	Gates Industrial Corporation P	37,957	$484K	0.1%	—	—	COM	g39108108
QCOM	Qualcomm Inc	3,060	$466K	0.1%	—	—	COM	747525103
—	ViacomCBS Inc. B	12,236	$456K	0.1%	—	—	COM	92556h206
WY	Weyerhaeuser Co.	13,272	$445K	0.1%	—	—	COM	962166104
USB	US Bancorp Delaware New	9,535	$444K	0.1%	—	—	COM	902973304
AGCO	AGCO Corp	4,150	$428K	0.1%	—	—	COM	001084102
KHC	The Kraft Heinz Company	12,349	$428K	0.1%	—	—	COM	500754106
—	Keurig Dr. Pepper Inc.	13,249	$424K	0.1%	—	—	COM	49271v100
—	Allegion PLC	3,637	$423K	0.1%	—	—	FOR	g0176j109
—	Ingersoll Rand Inc.	9,163	$417K	0.1%	—	—	COM	45687v106
ADBE	Adobe Systems Inc	806	$403K	0.1%	—	—	COM	00724F101
—	Alphabet, Inc Non-Voting Class	225	$394K	0.1%	—	—	COM	02079k107
—	ManpowerGroup Inc.	4,325	$390K	0.1%	—	—	COM	56418h100
LUMN	Lumen Technologies, Inc.	39,950	$390K	0.1%	—	—	COM	550241103
—	PayPal Holdings, Inc.	1,567	$367K	0.1%	—	—	COM	70450y103
—	WW International, Inc.	14,497	$354K	0.1%	—	—	COM	98262p101
DAL	Delta Airlines - New	8,500	$342K	0.1%	—	—	COM	247361702
—	Alibaba Group Holding Limited	1,431	$333K	0.1%	—	—	FOR	01609w102
TPR	Tapestry Inc.	9,505	$295K	0.1%	—	—	COM	876030107
HPQ	HP Inc.	11,984	$295K	0.1%	—	—	COM	40434L105
GIS	General Mills	4,821	$283K	0.1%	—	—	COM	370334104
—	Laboratory Corp. of America	1,375	$280K	0.1%	—	—	COM	50540r409
PH	Parker-Hannifin Corp.	995	$271K	0.1%	—	—	COM	701094104
DLR	Digital Realty Trust	1,943	$271K	0.1%	—	—	COM	253868103
TM	Toyota Motor Corp ADR	1,670	$258K	0.0%	—	—	FOR	892331307
CSX	CSX Corp	2,722	$247K	0.0%	—	—	COM	126408103
—	General Electric Co.	22,433	$242K	0.0%	—	—	COM	369604103
ITW	Illinois Tool Works Inc.	1,121	$229K	0.0%	—	—	COM	452308109
—	Compass Minerals Intl.	3,620	$223K	0.0%	—	—	COM	20451n101
—	Discovery,Inc. Series C	8,211	$215K	0.0%	—	—	COM	25470F302
ALGN	Align Technology, Inc.	400	$214K	0.0%	—	—	COM	016255101
—	Interpublic Group	9,067	$213K	0.0%	—	—	COM	460690100
WM	Waste Management Inc. Del	1,782	$210K	0.0%	—	—	COM	94106L109
—	Waddell & Reed Financial	7,958	$203K	0.0%	—	—	COM	930059100
—	Viatris Inc.	10,453	$196K	0.0%	—	—	COM	92556v106
—	Hewlett Packard Enterprise Co.	12,481	$148K	0.0%	—	—	COM	42824c109
F	Ford Motor Co.- New	11,932	$105K	0.0%	—	—	COM	345370860
NOK	Nokia Corp Sponsored ADR	17,037	$67,000	0.0%	—	—	FOR	654902204
LYG	Lloyds TSB Group	16,500	$32,000	0.0%	—	—	COM	539439109
—	IsoRay, Inc.	14,218	$6,000	0.0%	—	—	COM	46489v104