Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	UnitedHealth Group Inc.	87,814	$32.67M	5.6%	—	—	COM	91324p102
MSFT	Microsoft Corp.	123,610	$29.14M	5.0%	—	—	COM	594918104
—	Mastercard Inc.	52,105	$18.55M	3.2%	—	—	COM	57636q104
PM	Philip Morris International	208,111	$18.47M	3.2%	—	—	COM	718172109
ELV	Anthem, Inc.	48,469	$17.4M	3.0%	—	—	COM	036752103
—	Medtronic PLC	143,582	$16.96M	2.9%	—	—	FOR	g5960L103
JNJ	Johnson & Johnson	89,758	$14.75M	2.5%	—	—	COM	478160104
PEP	Pepsico Inc.	103,153	$14.59M	2.5%	—	—	COM	713448108
KR	Kroger Co.	377,536	$13.59M	2.3%	—	—	COM	501044101
BAC	Bank of America Corp	343,893	$13.3M	2.3%	—	—	COM	060505104
BK	Bank of New York Mellon Corp	239,304	$11.32M	1.9%	—	—	COM	064058100
ABT	Abbott Laboratories	85,145	$10.2M	1.8%	—	—	COM	002824100
—	Merck & Co.Inc. New	130,126	$10.03M	1.7%	—	—	COM	58933y105
—	Zimmer Biomet Holdings	61,984	$9.922M	1.7%	—	—	COM	98956p102
—	The Travelers Companies Inc.	60,831	$9.149M	1.6%	—	—	COM	89417e109
—	Visa, Inc.	43,107	$9.127M	1.6%	—	—	COM	92826c839
—	Alphabet, Inc Voting Class	4,301	$8.871M	1.5%	—	—	COM	02079k305
—	Altria Group Inc.	159,389	$8.154M	1.4%	—	—	COM	02209s103
CVS	CVS Health Corp.	108,218	$8.141M	1.4%	—	—	COM	126650100
HD	Home Depot Inc.	26,508	$8.092M	1.4%	—	—	COM	437076102
—	LyondellBasell Industries N.V.	70,868	$7.374M	1.3%	—	—	FOR	n53745100
GLW	Corning Inc	167,776	$7.3M	1.3%	—	—	COM	219350105
—	Discovery, Inc. Series A	167,815	$7.293M	1.3%	—	—	COM	25470f104
WMT	Wal Mart Stores	53,487	$7.265M	1.2%	—	—	COM	931142103
—	Biogen Inc.	24,367	$6.817M	1.2%	—	—	COM	09062x103
BRK/B	Berkshire Hathaway Inc. Class	26,043	$6.653M	1.1%	—	—	COM	084670702
AFL	AFLAC Inc.	129,835	$6.645M	1.1%	—	—	COM	001055102
LOW	Lowes Companies	34,535	$6.568M	1.1%	—	—	COM	548661107
KO	Coca-Cola Company	120,540	$6.354M	1.1%	—	—	COM	191216100
—	Cerner Corporation	80,415	$5.78M	1.0%	—	—	COM	156782104
—	Molson Coors Brewing Co	112,351	$5.747M	1.0%	—	—	COM	60871r209
CI	Cigna Corp	23,712	$5.732M	1.0%	—	—	COM	125523100
C	Citigroup Inc.	76,995	$5.601M	1.0%	—	—	COM	172967424
—	Comcast Corp Cl A	98,867	$5.35M	0.9%	—	—	COM	20030n101
—	Unilever PCL ADR	93,148	$5.2M	0.9%	—	—	FOR	904767704
BKNG	Booking Holdings Inc.	2,195	$5.114M	0.9%	—	—	COM	09857L108
BP	BP p.l.c.	204,599	$4.982M	0.9%	—	—	FOR	055622104
AIG	American International Group	104,762	$4.841M	0.8%	—	—	COM	026874784
DGX	Quest Diagnostics Inc.	36,940	$4.741M	0.8%	—	—	COM	74834L100
AAPL	Apple, Inc.	38,050	$4.648M	0.8%	—	—	COM	037833100
BDX	Becton Dickinson & Co	18,770	$4.564M	0.8%	—	—	COM	075887109
CE	Celanese Corp	29,765	$4.459M	0.8%	—	—	COM	150870103
—	Facebook, Inc.	15,100	$4.447M	0.8%	—	—	COM	30303m102
MRSH	Marsh & McLennan Co.	36,512	$4.447M	0.8%	—	—	COM	571748102
—	Valero Energy Corp.	61,907	$4.433M	0.8%	—	—	COM	91913y100
PAYX	Paychex Inc.	43,550	$4.269M	0.7%	—	—	COM	704326107
FDX	Fedex Corp	14,395	$4.089M	0.7%	—	—	COM	31428X106
—	DuPont de Nemours, Inc	51,700	$3.995M	0.7%	—	—	COM	26614n102
BA	Boeing Company	15,608	$3.976M	0.7%	—	—	COM	097023105
—	AbbVie, Inc.	36,332	$3.932M	0.7%	—	—	COM	00287y109
BEN	Franklin Resources Inc.	131,813	$3.902M	0.7%	—	—	COM	354613101
DOW	Dow Inc.	58,212	$3.722M	0.6%	—	—	COM	260557103
PG	Procter & Gamble Co.	26,929	$3.647M	0.6%	—	—	COM	742718109
BTI	British American Tobacco	93,273	$3.613M	0.6%	—	—	FOR	110448107
CTSH	Cognizant Technology Solutions	43,518	$3.4M	0.6%	—	—	COM	192446102
—	Costco Wholesale Corp	9,432	$3.325M	0.6%	—	—	COM	22160k105
—	Monster Beverage Corp.	35,800	$3.261M	0.6%	—	—	COM	61174x109
DIS	The Walt Disney Co.	16,377	$3.022M	0.5%	—	—	COM	254687106
CVX	Chevron Corp.	27,549	$2.887M	0.5%	—	—	COM	166764100
PFE	Pfizer Inc.	79,351	$2.875M	0.5%	—	—	COM	717081103
UPS	United Parcel Service Inc.	16,579	$2.818M	0.5%	—	—	COM	911312106
CSCO	Cisco Sys Inc.	53,071	$2.744M	0.5%	—	—	COM	17275R102
CTVA	Corteva, Inc.	58,246	$2.715M	0.5%	—	—	COM	22052L104
CPF	Central Pacific Financial Co	101,597	$2.711M	0.5%	—	—	COM	154760409
MCD	McDonalds Corp	12,079	$2.707M	0.5%	—	—	COM	580135101
—	America Movil ADR	190,504	$2.587M	0.4%	—	—	FOR	02364W105
—	Raytheon Technologies	31,616	$2.443M	0.4%	—	—	COM	75513e101
UNP	Union Pacific Corp	10,477	$2.309M	0.4%	—	—	COM	907818108
—	Textainer Group Holdings Limit	79,900	$2.289M	0.4%	—	—	FOR	g8766e109
—	Credit Suisse Group ADR	213,333	$2.261M	0.4%	—	—	FOR	225401108
—	General Motors Company	38,799	$2.229M	0.4%	—	—	COM	37045v100
MDLZ	Mondelez International, Inc.	37,391	$2.188M	0.4%	—	—	COM	609207105
VZ	Verizon Communications	37,171	$2.161M	0.4%	—	—	COM	92343V104
NKE	Nike Inc Class B	16,010	$2.128M	0.4%	—	—	COM	654106103
—	The Mosaic Company	65,331	$2.065M	0.4%	—	—	COM	61945c103
—	Diageo PLC ADR	12,479	$2.049M	0.4%	—	—	FOR	25243q205
BMY	Bristol Myers Squibb Co.	31,607	$1.995M	0.3%	—	—	COM	110122108
—	Arcos Dorados Hldgs.	391,551	$1.993M	0.3%	—	—	FOR	g0457f107
—	Unum Group	70,937	$1.974M	0.3%	—	—	COM	91529y106
—	Glaxo SmithKline PLC	54,406	$1.942M	0.3%	—	—	FOR	37733W105
—	Alibaba Group Holding Limited	8,130	$1.843M	0.3%	—	—	FOR	01609w102
INTC	Intel Corp.	26,081	$1.669M	0.3%	—	—	COM	458140100
—	Sally Beauty Holdings Inc.	80,586	$1.622M	0.3%	—	—	COM	79546e104
—	ConocoPhillips	29,844	$1.581M	0.3%	—	—	COM	20825c104
ADP	Automatic Data Processing	8,162	$1.538M	0.3%	—	—	COM	053015103
PSX	Phillips 66	18,662	$1.522M	0.3%	—	—	COM	718546104
SBUX	Starbucks Corp	13,867	$1.515M	0.3%	—	—	COM	855244109
—	DR Horton, Inc	16,920	$1.508M	0.3%	—	—	COM	23331a109
—	Manitex Intl	187,681	$1.481M	0.3%	—	—	COM	563420108
YUM	Yum! Brands, Inc.	13,137	$1.421M	0.2%	—	—	COM	988498101
WFC	Wells Fargo & Co.	35,839	$1.4M	0.2%	—	—	COM	949746101
WAFD	Washington Federal	45,410	$1.399M	0.2%	—	—	COM	938824109
LINC	Lincoln Educational	213,567	$1.369M	0.2%	—	—	COM	533535100
HRB	H & R Block Inc.	62,702	$1.367M	0.2%	—	—	COM	093671105
AMGN	Amgen Inc.	5,248	$1.306M	0.2%	—	—	COM	031162100
TELFY	Telefonica S.A. ADR	283,756	$1.285M	0.2%	—	—	FOR	879382208
AXP	American Express Co.	8,558	$1.21M	0.2%	—	—	COM	025816109
—	Trane Technologies PLC	6,705	$1.11M	0.2%	—	—	FOR	g8994e103
—	AT & T, Inc. New	36,541	$1.106M	0.2%	—	—	COM	00206r102
—	FirstService Corp Voting Share	7,410	$1.098M	0.2%	—	—	FOR	33767e103
—	Ameriprise Financial Inc.	4,538	$1.055M	0.2%	—	—	COM	03076c106
CAG	ConAgra Foods Inc.	25,960	$976K	0.2%	—	—	COM	205887102
GILD	Gilead Sciences Inc.	14,098	$911K	0.2%	—	—	COM	375558103
ORCL	Oracle Corp	12,653	$888K	0.2%	—	—	COM	68389X105
CAE	CAE Inc.	30,935	$881K	0.2%	—	—	FOR	124765108
CAT	Caterpillar Inc.	3,540	$821K	0.1%	—	—	COM	149123101
FORR	Forrester Research Inc.	19,050	$809K	0.1%	—	—	COM	346563109
—	Gates Industrial Corporation P	48,107	$769K	0.1%	—	—	COM	g39108108
XOM	Exxon Mobil Corp	13,735	$767K	0.1%	—	—	COM	30231G102
—	Yum China Holdings, Inc.	12,102	$717K	0.1%	—	—	FOR	98850p109
CIGI	Colliers International Group	7,160	$703K	0.1%	—	—	FOR	194693107
ALK	Alaska Air Group Inc.	10,145	$702K	0.1%	—	—	COM	011659109
AMZN	Amazon.com, Inc.	226	$699K	0.1%	—	—	COM	023135106
—	AON Plc	2,952	$679K	0.1%	—	—	FOR	g0403h108
—	Royal Dutch Shell PLC A	17,303	$678K	0.1%	—	—	FOR	780259206
WU	Western Union Company	27,047	$667K	0.1%	—	—	COM	959802109
LW	Lamb Weston Holdings	8,530	$661K	0.1%	—	—	COM	513272104
TSM	Taiwan Semiconductor Manufactu	5,487	$649K	0.1%	—	—	FOR	874039100
AGCO	AGCO Corp	4,150	$596K	0.1%	—	—	COM	001084102
IFF	International Flavors & Fragra	4,156	$580K	0.1%	—	—	COM	459506101
—	ViacomCBS Inc. B	12,236	$552K	0.1%	—	—	COM	92556h206
LUMN	Lumen Technologies, Inc.	40,500	$541K	0.1%	—	—	COM	550241103
USB	US Bancorp Delaware New	9,535	$527K	0.1%	—	—	COM	902973304
WY	Weyerhaeuser Co.	13,772	$490K	0.1%	—	—	COM	962166104
KHC	The Kraft Heinz Company	12,193	$488K	0.1%	—	—	COM	500754106
—	Alphabet, Inc Non-Voting Class	225	$465K	0.1%	—	—	COM	02079k107
—	Alkermes PLC	24,466	$457K	0.1%	—	—	FOR	g01767105
—	Keurig Dr. Pepper Inc.	13,224	$455K	0.1%	—	—	COM	49271v100
—	Allegion PLC	3,605	$453K	0.1%	—	—	FOR	g0176j109
—	WW International, Inc.	14,497	$453K	0.1%	—	—	COM	98262p101
—	ManpowerGroup Inc.	4,315	$427K	0.1%	—	—	COM	56418h100
QCOM	Qualcomm Inc	3,110	$412K	0.1%	—	—	COM	747525103
DAL	Delta Airlines - New	8,500	$410K	0.1%	—	—	COM	247361702
TPR	Tapestry Inc.	9,405	$388K	0.1%	—	—	COM	876030107
ADBE	Adobe Systems Inc	806	$383K	0.1%	—	—	COM	00724F101
—	PayPal Holdings, Inc.	1,567	$381K	0.1%	—	—	COM	70450y103
HPQ	HP Inc.	11,824	$375K	0.1%	—	—	COM	40434L105
—	Laboratory Corp. of America	1,365	$348K	0.1%	—	—	COM	50540r409
—	Discovery,Inc. Series C	8,211	$303K	0.1%	—	—	COM	25470F302
—	Ingersoll Rand Inc.	6,055	$298K	0.1%	—	—	COM	45687v106
GIS	General Mills	4,821	$296K	0.1%	—	—	COM	370334104
—	General Electric Co.	22,433	$295K	0.1%	—	—	COM	369604103
PH	Parker-Hannifin Corp.	845	$267K	0.0%	—	—	COM	701094104
—	Interpublic Group	9,067	$265K	0.0%	—	—	COM	460690100
CSX	CSX Corp	2,722	$262K	0.0%	—	—	COM	126408103
TM	Toyota Motor Corp ADR	1,630	$254K	0.0%	—	—	FOR	892331307
KLAC	Kla-Tencor Corp	755	$249K	0.0%	—	—	COM	482480100
ITW	Illinois Tool Works Inc.	1,121	$248K	0.0%	—	—	COM	452308109
DLR	Digital Realty Trust	1,714	$241K	0.0%	—	—	COM	253868103
WM	Waste Management Inc. Del	1,782	$230K	0.0%	—	—	COM	94106L109
—	Compass Minerals Intl.	3,620	$227K	0.0%	—	—	COM	20451n101
NUE	Nucor Corp	2,735	$220K	0.0%	—	—	COM	670346105
ALGN	Align Technology, Inc.	400	$217K	0.0%	—	—	COM	016255101
—	Enbridge Inc.	5,723	$208K	0.0%	—	—	FOR	29250n105
FOXA	Fox Corporation Class A	5,623	$203K	0.0%	—	—	COM	35137L105
—	Hewlett Packard Enterprise Co.	12,321	$194K	0.0%	—	—	COM	42824c109
—	Viatris Inc.	10,713	$150K	0.0%	—	—	COM	92556v106
F	Ford Motor Co.- New	11,482	$141K	0.0%	—	—	COM	345370860
NOK	Nokia Corp Sponsored ADR	17,037	$67,000	0.0%	—	—	FOR	654902204
—	CytoDyn, Inc	14,300	$39,000	0.0%	—	—	COM	28383m101
LYG	Lloyds TSB Group	16,500	$38,000	0.0%	—	—	COM	539439109
—	IsoRay, Inc.	14,218	$15,000	0.0%	—	—	COM	46489v104