Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	UnitedHealth Group Inc.	86,645	$43.51M	6.8%	—	—	COM	91324p102
MSFT	Microsoft Corp.	122,106	$41.07M	6.4%	—	—	COM	594918104
ELV	Anthem, Inc.	47,674	$22.1M	3.4%	—	—	COM	036752103
PM	Philip Morris International	204,427	$19.42M	3.0%	—	—	COM	718172109
KR	Kroger Co.	374,161	$16.93M	2.6%	—	—	COM	501044101
—	Mastercard Inc.	46,830	$16.83M	2.6%	—	—	COM	57636q104
BAC	Bank of America Corp	340,283	$15.14M	2.4%	—	—	COM	060505104
PEP	Pepsico Inc.	85,529	$14.86M	2.3%	—	—	COM	713448108
—	Medtronic PLC	140,837	$14.57M	2.3%	—	—	FOR	g5960L103
JNJ	Johnson & Johnson	83,390	$14.27M	2.2%	—	—	COM	478160104
BK	Bank of New York Mellon Corp	236,469	$13.73M	2.1%	—	—	COM	064058100
—	Alphabet, Inc Voting Class	4,263	$12.35M	1.9%	—	—	COM	02079k305
CVS	CVS Health Corp.	109,234	$11.27M	1.7%	—	—	COM	126650100
ABT	Abbott Laboratories	77,306	$10.88M	1.7%	—	—	COM	002824100
HD	Home Depot Inc.	25,783	$10.7M	1.7%	—	—	COM	437076102
—	Merck & Co.Inc. New	130,591	$10.01M	1.6%	—	—	COM	58933y105
—	Visa, Inc.	43,107	$9.342M	1.5%	—	—	COM	92826c839
—	The Travelers Companies Inc.	58,323	$9.123M	1.4%	—	—	COM	89417e109
LOW	Lowes Companies	33,980	$8.783M	1.4%	—	—	COM	548661107
—	Zimmer Biomet Holdings	61,089	$7.761M	1.2%	—	—	COM	98956p102
BRK/B	Berkshire Hathaway Inc. Class	25,803	$7.715M	1.2%	—	—	COM	084670702
—	Altria Group Inc.	160,657	$7.614M	1.2%	—	—	COM	02209s103
WMT	Wal Mart Stores	52,012	$7.526M	1.2%	—	—	COM	931142103
AFL	AFLAC Inc.	128,002	$7.474M	1.2%	—	—	COM	001055102
—	Cerner Corporation	74,345	$6.904M	1.1%	—	—	COM	156782104
AAPL	Apple, Inc.	37,665	$6.688M	1.0%	—	—	COM	037833100
—	LyondellBasell Industries N.V.	69,123	$6.375M	1.0%	—	—	FOR	n53745100
KO	Coca-Cola Company	105,971	$6.275M	1.0%	—	—	COM	191216100
GLW	Corning Inc	167,126	$6.222M	1.0%	—	—	COM	219350105
MRSH	Marsh & McLennan Co.	34,944	$6.074M	0.9%	—	—	COM	571748102
AIG	American International Group	105,297	$5.987M	0.9%	—	—	COM	026874784
CI	Cigna Corp	25,680	$5.897M	0.9%	—	—	COM	125523100
DGX	Quest Diagnostics Inc.	33,980	$5.879M	0.9%	—	—	COM	74834L100
PAYX	Paychex Inc.	42,195	$5.76M	0.9%	—	—	COM	704326107
—	Biogen Inc.	23,810	$5.712M	0.9%	—	—	COM	09062x103
BP	BP p.l.c.	202,364	$5.389M	0.8%	—	—	FOR	055622104
—	Unilever PCL ADR	97,563	$5.248M	0.8%	—	—	FOR	904767704
—	Costco Wholesale Corp	9,226	$5.237M	0.8%	—	—	COM	22160k105
BKNG	Booking Holdings Inc.	2,176	$5.221M	0.8%	—	—	COM	09857L108
—	Molson Coors Brewing Co	111,866	$5.185M	0.8%	—	—	COM	60871r209
—	Meta Platforms, Inc.	15,035	$5.057M	0.8%	—	—	COM	30303m102
—	Comcast Corp Cl A	98,357	$4.95M	0.8%	—	—	COM	20030n101
CE	Celanese Corp	29,325	$4.928M	0.8%	—	—	COM	150870103
—	AbbVie, Inc.	35,727	$4.837M	0.8%	—	—	COM	00287y109
C	Citigroup Inc.	76,305	$4.608M	0.7%	—	—	COM	172967424
—	Valero Energy Corp.	60,992	$4.581M	0.7%	—	—	COM	91913y100
PFE	Pfizer Inc.	75,173	$4.439M	0.7%	—	—	COM	717081103
BEN	Franklin Resources Inc.	130,148	$4.359M	0.7%	—	—	COM	354613101
BDX	Becton Dickinson & Co	17,245	$4.337M	0.7%	—	—	COM	075887109
—	Discovery, Inc. Series A	174,505	$4.108M	0.6%	—	—	COM	25470f104
—	DuPont de Nemours, Inc	50,812	$4.105M	0.6%	—	—	COM	26614n102
BTI	British American Tobacco	104,198	$3.898M	0.6%	—	—	FOR	110448107
CTSH	Cognizant Technology Solutions	42,893	$3.805M	0.6%	—	—	COM	192446102
FDX	Fedex Corp	14,245	$3.684M	0.6%	—	—	COM	31428X106
PG	Procter & Gamble Co.	22,195	$3.631M	0.6%	—	—	COM	742718109
UPS	United Parcel Service Inc.	16,506	$3.538M	0.5%	—	—	COM	911312106
—	Monster Beverage Corp.	35,800	$3.438M	0.5%	—	—	COM	61174x109
—	America Movil ADR	154,044	$3.252M	0.5%	—	—	FOR	02364W105
DOW	Dow Inc.	57,202	$3.244M	0.5%	—	—	COM	260557103
CSCO	Cisco Sys Inc.	51,151	$3.241M	0.5%	—	—	COM	17275R102
CVX	Chevron Corp.	27,549	$3.233M	0.5%	—	—	COM	166764100
MCD	McDonalds Corp	12,018	$3.222M	0.5%	—	—	COM	580135101
BA	Boeing Company	15,528	$3.126M	0.5%	—	—	COM	097023105
—	Textainer Group Holdings Limit	78,375	$2.799M	0.4%	—	—	FOR	g8766e109
CPF	Central Pacific Financial Co	96,725	$2.725M	0.4%	—	—	COM	154760409
—	Raytheon Technologies	31,616	$2.721M	0.4%	—	—	COM	75513e101
CTVA	Corteva, Inc.	57,386	$2.713M	0.4%	—	—	COM	22052L104
—	Diageo PLC ADR	11,959	$2.633M	0.4%	—	—	FOR	25243q205
NKE	Nike Inc Class B	15,485	$2.581M	0.4%	—	—	COM	654106103
UNP	Union Pacific Corp	10,227	$2.576M	0.4%	—	—	COM	907818108
—	The Mosaic Company	63,981	$2.514M	0.4%	—	—	COM	61945c103
MDLZ	Mondelez International, Inc.	37,097	$2.46M	0.4%	—	—	COM	609207105
DIS	The Walt Disney Co.	15,733	$2.437M	0.4%	—	—	COM	254687106
—	Arcos Dorados Hldgs.	406,236	$2.368M	0.4%	—	—	FOR	g0457f107
—	Glaxo SmithKline PLC	51,801	$2.284M	0.4%	—	—	FOR	37733W105
—	General Motors Company	38,674	$2.267M	0.4%	—	—	COM	37045v100
—	ConocoPhillips	29,244	$2.111M	0.3%	—	—	COM	20825c104
AMGN	Amgen Inc.	8,908	$2.004M	0.3%	—	—	COM	031162100
ADP	Automatic Data Processing	8,092	$1.995M	0.3%	—	—	COM	053015103
BMY	Bristol Myers Squibb Co.	31,020	$1.934M	0.3%	—	—	COM	110122108
—	DR Horton, Inc	17,220	$1.868M	0.3%	—	—	COM	23331a109
VZ	Verizon Communications	35,381	$1.838M	0.3%	—	—	COM	92343V104
WFC	Wells Fargo & Co.	36,837	$1.767M	0.3%	—	—	COM	949746101
—	Gates Industrial Corporation P	110,549	$1.759M	0.3%	—	—	COM	g39108108
—	Alibaba Group Holding Limited	14,600	$1.734M	0.3%	—	—	FOR	01609w102
—	Unum Group	68,717	$1.688M	0.3%	—	—	COM	91529y106
LINC	Lincoln Educational	221,567	$1.655M	0.3%	—	—	COM	533535100
YUM	Yum! Brands, Inc.	11,730	$1.629M	0.3%	—	—	COM	988498101
—	Credit Suisse Group ADR	168,633	$1.626M	0.3%	—	—	FOR	225401108
SBUX	Starbucks Corp	13,253	$1.55M	0.2%	—	—	COM	855244109
WAFD	Washington Federal	45,300	$1.512M	0.2%	—	—	COM	938824109
—	Organon & Co.	48,351	$1.472M	0.2%	—	—	COM	68622v106
—	Sally Beauty Holdings Inc.	79,336	$1.465M	0.2%	—	—	COM	79546e104
HRB	H&R Block Inc.	61,302	$1.444M	0.2%	—	—	COM	093671105
INTC	Intel Corp.	27,181	$1.4M	0.2%	—	—	COM	458140100
—	FirstService Corp Voting Share	7,123	$1.399M	0.2%	—	—	FOR	33767e103
—	Ameriprise Financial Inc.	4,538	$1.369M	0.2%	—	—	COM	03076c106
AXP	American Express Co.	8,298	$1.358M	0.2%	—	—	COM	025816109
—	Trane Technologies PLC	6,705	$1.355M	0.2%	—	—	FOR	g8994e103
PSX	Phillips 66	18,362	$1.331M	0.2%	—	—	COM	718546104
—	Manitex Intl	184,281	$1.172M	0.2%	—	—	COM	563420108
FORR	Forrester Research Inc.	19,050	$1.119M	0.2%	—	—	COM	346563109
ORCL	Oracle Corp	12,618	$1.1M	0.2%	—	—	COM	68389X105
CIGI	Colliers International Group	7,160	$1.064M	0.2%	—	—	FOR	194693107
—	Grand Canyon Education, Inc.	12,380	$1.061M	0.2%	—	—	COM	38526m106
GILD	Gilead Sciences Inc.	13,458	$977K	0.2%	—	—	COM	375558103
—	ViacomCBS Inc. B	31,269	$944K	0.1%	—	—	COM	92556h206
—	AT & T, Inc. New	35,990	$885K	0.1%	—	—	COM	00206r102
CAG	ConAgra Foods Inc.	25,485	$870K	0.1%	—	—	COM	205887102
—	AON Plc	2,852	$857K	0.1%	—	—	FOR	g0403h108
XOM	Exxon Mobil Corp	12,986	$795K	0.1%	—	—	COM	30231G102
TELFY	Telefonica S.A. ADR	186,071	$789K	0.1%	—	—	FOR	879382208
AMZN	Amazon.com, Inc.	236	$787K	0.1%	—	—	COM	023135106
CAE	CAE Inc.	30,935	$781K	0.1%	—	—	FOR	124765108
CAT	Caterpillar Inc.	3,540	$732K	0.1%	—	—	COM	149123101
—	Royal Dutch Shell PLC A	15,693	$681K	0.1%	—	—	FOR	780259206
TSM	Taiwan Semiconductor Manufactu	5,487	$660K	0.1%	—	—	FOR	874039100
—	Alphabet, Inc Non-Voting Class	221	$639K	0.1%	—	—	COM	02079k107
IFF	International Flavors & Fragra	4,102	$618K	0.1%	—	—	COM	459506101
WY	Weyerhaeuser Co.	13,772	$567K	0.1%	—	—	COM	962166104
QCOM	Qualcomm Inc	3,042	$556K	0.1%	—	—	COM	747525103
LMT	Lockheed Martin Corp	1,520	$540K	0.1%	—	—	COM	539830109
USB	US Bancorp Delaware New	9,535	$536K	0.1%	—	—	COM	902973304
—	Yum China Holdings, Inc.	10,645	$531K	0.1%	—	—	FOR	98850p109
LW	Lamb Weston Holdings	8,334	$528K	0.1%	—	—	COM	513272104
ALK	Alaska Air Group Inc.	9,945	$518K	0.1%	—	—	COM	011659109
AGCO	AGCO Corp	4,150	$481K	0.1%	—	—	COM	001084102
—	Allegion PLC	3,605	$477K	0.1%	—	—	FOR	g0176j109
—	Keurig Dr. Pepper Inc.	12,924	$476K	0.1%	—	—	COM	49271v100
WU	Western Union Company	26,517	$473K	0.1%	—	—	COM	959802109
ADBE	Adobe Systems Inc	771	$437K	0.1%	—	—	COM	00724F101
KHC	The Kraft Heinz Company	11,979	$430K	0.1%	—	—	COM	500754106
HPQ	HP Inc.	11,324	$427K	0.1%	—	—	COM	40434L105
—	ManpowerGroup Inc.	4,115	$401K	0.1%	—	—	COM	56418h100
—	Alkermes PLC	17,091	$398K	0.1%	—	—	FOR	g01767105
—	Laboratory Corp. of America	1,200	$377K	0.1%	—	—	COM	50540r409
—	Ingersoll Rand Inc.	6,055	$375K	0.1%	—	—	COM	45687v106
LUMN	Lumen Technologies, Inc.	29,500	$370K	0.1%	—	—	COM	550241103
KLAC	Kla-Tencor Corp	835	$359K	0.1%	—	—	COM	482480100
TPR	Tapestry Inc.	8,455	$343K	0.1%	—	—	COM	876030107
—	Interpublic Group	8,912	$334K	0.1%	—	—	COM	460690100
DLR	Digital Realty Trust	1,814	$321K	0.0%	—	—	COM	253868103
—	PayPal Holdings, Inc.	1,667	$314K	0.0%	—	—	COM	70450y103
CSX	CSX Corp	8,166	$307K	0.0%	—	—	COM	126408103
NUE	Nucor Corp	2,675	$305K	0.0%	—	—	COM	670346105
TM	Toyota Motor Corp ADR	1,590	$295K	0.0%	—	—	FOR	892331307
WM	Waste Management Inc. Del	1,757	$293K	0.0%	—	—	COM	94106L109
GIS	General Mills	4,321	$291K	0.0%	—	—	COM	370334104
ITW	Illinois Tool Works Inc.	1,104	$272K	0.0%	—	—	COM	452308109
PH	Parker-Hannifin Corp.	845	$269K	0.0%	—	—	COM	701094104
DAL	Delta Airlines - New	6,800	$266K	0.0%	—	—	COM	247361702
F	Ford Motor Co.- New	12,782	$265K	0.0%	—	—	COM	345370860
ALGN	Align Technology, Inc.	400	$263K	0.0%	—	—	COM	016255101
—	WW International, Inc.	14,282	$230K	0.0%	—	—	COM	98262p101
—	General Electric Co.	2,415	$228K	0.0%	—	—	COM	369604103
—	Global Medical REIT, Inc.	12,000	$213K	0.0%	—	—	COM	37954a204
SM	SM Energy Company	7,240	$213K	0.0%	—	—	COM	78454L100
—	ASML Holding N.V.	267	$213K	0.0%	—	—	FOR	n07059178
—	NextEra Energy, Inc.	2,262	$211K	0.0%	—	—	COM	65339f101
FAST	Fastenal Co.	3,235	$207K	0.0%	—	—	COM	311900104
—	Enbridge Inc.	5,257	$205K	0.0%	—	—	FOR	29250n105
VALU	Value Line Inc.	4,339	$203K	0.0%	—	—	COM	920437100
SYK	Stryker Corporation	755	$202K	0.0%	—	—	COM	863667101
AMAT	Applied Materials Inc Delaware	1,283	$202K	0.0%	—	—	COM	038222105
LLY	Eli Lilly & Co	726	$201K	0.0%	—	—	COM	532457108
FOXA	Fox Corporation Class A	5,453	$201K	0.0%	—	—	COM	35137L105
—	Hewlett Packard Enterprise Co.	11,821	$186K	0.0%	—	—	COM	42824c109
—	Viatris Inc.	10,439	$141K	0.0%	—	—	COM	92556v106
NOK	Nokia Corp Sponsored ADR	16,157	$100K	0.0%	—	—	FOR	654902204
LYG	Lloyds TSB Group	16,500	$42,000	0.0%	—	—	COM	539439109
—	IsoRay, Inc.	14,218	$6,000	0.0%	—	—	COM	46489v104