Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	UnitedHealth Group Inc.	84,959	$43.64M	7.8%	—	—	COM	91324p102
MSFT	Microsoft Corp.	118,487	$30.43M	5.4%	—	—	COM	594918104
ELV	Elevance Health Inc.	46,583	$22.48M	4.0%	—	—	COM	036752103
PM	Philip Morris International	204,317	$20.17M	3.6%	—	—	COM	718172109
KR	Kroger Co.	373,957	$17.7M	3.2%	—	—	COM	501044101
—	Mastercard Inc.	46,830	$14.77M	2.6%	—	—	COM	57636q104
PEP	Pepsico Inc.	84,321	$14.05M	2.5%	—	—	COM	713448108
JNJ	Johnson & Johnson	78,921	$14.01M	2.5%	—	—	COM	478160104
—	Medtronic PLC	143,407	$12.87M	2.3%	—	—	FOR	g5960L103
—	Merck & Co.Inc. New	126,069	$11.49M	2.1%	—	—	COM	58933y105
BAC	Bank of America Corp	340,106	$10.59M	1.9%	—	—	COM	060505104
CVS	CVS Health Corp.	109,109	$10.11M	1.8%	—	—	COM	126650100
BK	Bank of New York Mellon Corp	235,444	$9.82M	1.8%	—	—	COM	064058100
—	Alphabet, Inc Voting Class	4,276	$9.319M	1.7%	—	—	COM	02079k305
—	The Travelers Companies Inc.	52,177	$8.825M	1.6%	—	—	COM	89417e109
—	Visa, Inc.	42,607	$8.389M	1.5%	—	—	COM	92826c839
ABT	Abbott Laboratories	76,288	$8.289M	1.5%	—	—	COM	002824100
HD	Home Depot Inc.	25,863	$7.094M	1.3%	—	—	COM	437076102
AFL	AFLAC Inc.	128,002	$7.082M	1.3%	—	—	COM	001055102
BRK/B	Berkshire Hathaway Inc. Class	25,543	$6.974M	1.2%	—	—	COM	084670702
CI	Cigna Corp	25,680	$6.767M	1.2%	—	—	COM	125523100
—	Altria Group Inc.	160,384	$6.699M	1.2%	—	—	COM	02209s103
—	Zimmer Biomet Holdings	62,064	$6.52M	1.2%	—	—	COM	98956p102
—	Valero Energy Corp.	60,982	$6.481M	1.2%	—	—	COM	91913y100
KO	Coca-Cola Company	100,693	$6.335M	1.1%	—	—	COM	191216100
WMT	Wal Mart Stores	51,957	$6.317M	1.1%	—	—	COM	931142103
LOW	Lowes Companies	35,378	$6.179M	1.1%	—	—	COM	548661107
—	Molson Coors Brewing Co	112,216	$6.117M	1.1%	—	—	COM	60871r209
—	LyondellBasell Industries N.V.	67,853	$5.934M	1.1%	—	—	FOR	n53745100
BP	BP p.l.c.	202,264	$5.734M	1.0%	—	—	FOR	055622104
—	AbbVie, Inc.	35,638	$5.458M	1.0%	—	—	COM	00287y109
MRSH	Marsh & McLennan Co.	34,829	$5.407M	1.0%	—	—	COM	571748102
AIG	American International Group	105,297	$5.384M	1.0%	—	—	COM	026874784
GLW	Corning Inc	165,626	$5.219M	0.9%	—	—	COM	219350105
AAPL	Apple, Inc.	35,665	$4.876M	0.9%	—	—	COM	037833100
—	Biogen Inc.	23,740	$4.842M	0.9%	—	—	COM	09062x103
PAYX	Paychex Inc.	42,116	$4.796M	0.9%	—	—	COM	704326107
BTI	British American Tobacco	105,410	$4.523M	0.8%	—	—	FOR	110448107
—	Costco Wholesale Corp	9,104	$4.363M	0.8%	—	—	COM	22160k105
—	Unilever PCL ADR	94,163	$4.315M	0.8%	—	—	FOR	904767704
DGX	Quest Diagnostics Inc.	31,310	$4.164M	0.7%	—	—	COM	74834L100
—	Comcast Corp Cl A	96,767	$3.797M	0.7%	—	—	COM	20030n101
BKNG	Booking Holdings Inc.	2,170	$3.795M	0.7%	—	—	COM	09857L108
CVX	Chevron Corp.	25,144	$3.64M	0.7%	—	—	COM	166764100
PFE	Pfizer Inc.	69,428	$3.64M	0.7%	—	—	COM	717081103
C	Citigroup Inc.	76,535	$3.52M	0.6%	—	—	COM	172967424
CE	Celanese Corp	29,325	$3.449M	0.6%	—	—	COM	150870103
—	Monster Beverage Corp.	35,800	$3.319M	0.6%	—	—	COM	61174x109
BDX	Becton Dickinson & Co	13,345	$3.29M	0.6%	—	—	COM	075887109
FDX	Fedex Corp	14,235	$3.227M	0.6%	—	—	COM	31428X106
CTVA	Corteva, Inc.	57,386	$3.107M	0.6%	—	—	COM	22052L104
BEN	Franklin Resources Inc.	130,148	$3.034M	0.5%	—	—	COM	354613101
—	The Mosaic Company	63,881	$3.017M	0.5%	—	—	COM	61945c103
PG	Procter & Gamble Co.	20,970	$3.015M	0.5%	—	—	COM	742718109
—	Raytheon Technologies	31,116	$2.991M	0.5%	—	—	COM	75513e101
DOW	Dow Inc.	57,186	$2.951M	0.5%	—	—	COM	260557103
MCD	McDonalds Corp	11,942	$2.948M	0.5%	—	—	COM	580135101
UPS	United Parcel Service Inc.	16,108	$2.94M	0.5%	—	—	COM	911312106
CTSH	Cognizant Technology Solutions	41,893	$2.827M	0.5%	—	—	COM	192446102
—	DuPont de Nemours, Inc	50,796	$2.823M	0.5%	—	—	COM	26614n102
—	ConocoPhillips	29,244	$2.626M	0.5%	—	—	COM	20825c104
WBD	Warner Bros. Discovery, Inc.	191,136	$2.565M	0.5%	—	—	COM	934423104
—	Meta Platforms, Inc.	15,035	$2.424M	0.4%	—	—	COM	30303m102
—	Unum Group	68,717	$2.338M	0.4%	—	—	COM	91529y106
—	Arcos Dorados Hldgs.	345,482	$2.329M	0.4%	—	—	FOR	g0457f107
BMY	Bristol Myers Squibb Co.	30,096	$2.317M	0.4%	—	—	COM	110122108
—	America Movil ADR	112,781	$2.304M	0.4%	—	—	FOR	02364W105
MDLZ	Mondelez International, Inc.	37,097	$2.303M	0.4%	—	—	COM	609207105
AMGN	Amgen Inc.	8,908	$2.167M	0.4%	—	—	COM	031162100
—	Textainer Group Holdings Limit	78,275	$2.146M	0.4%	—	—	FOR	g8766e109
CSCO	Cisco Sys Inc.	50,246	$2.142M	0.4%	—	—	COM	17275R102
HRB	H&R Block Inc.	60,252	$2.128M	0.4%	—	—	COM	093671105
BA	Boeing Company	15,506	$2.12M	0.4%	—	—	COM	097023105
—	Diageo PLC ADR	11,949	$2.081M	0.4%	—	—	FOR	25243q205
UNP	Union Pacific Corp	9,697	$2.068M	0.4%	—	—	COM	907818108
CPF	Central Pacific Financial Co	95,125	$2.04M	0.4%	—	—	COM	154760409
—	Glaxo SmithKline PLC	45,921	$1.999M	0.4%	—	—	FOR	37733W105
VZ	Verizon Communications	35,191	$1.786M	0.3%	—	—	COM	92343V104
ADP	Automatic Data Processing	8,062	$1.693M	0.3%	—	—	COM	053015103
—	Alibaba Group Holding Limited	14,595	$1.659M	0.3%	—	—	FOR	01609w102
—	Organon & Co.	48,350	$1.632M	0.3%	—	—	COM	68622v106
NKE	Nike Inc Class B	15,440	$1.578M	0.3%	—	—	COM	654106103
DIS	The Walt Disney Co.	15,898	$1.501M	0.3%	—	—	COM	254687106
PSX	Phillips 66	17,912	$1.469M	0.3%	—	—	COM	718546104
WFC	Wells Fargo & Co.	36,817	$1.442M	0.3%	—	—	COM	949746101
—	Gates Industrial Corporation P	133,199	$1.44M	0.3%	—	—	COM	g39108108
LINC	Lincoln Educational	221,567	$1.398M	0.2%	—	—	COM	533535100
WAFD	Washington Federal	45,163	$1.356M	0.2%	—	—	COM	938824109
YUM	Yum! Brands, Inc.	11,730	$1.331M	0.2%	—	—	COM	988498101
—	General Motors Company	38,674	$1.228M	0.2%	—	—	COM	37045v100
—	Manitex Intl	183,481	$1.191M	0.2%	—	—	COM	563420108
—	DR Horton, Inc	17,220	$1.14M	0.2%	—	—	COM	23331a109
XOM	Exxon Mobil Corp	12,986	$1.112M	0.2%	—	—	COM	30231G102
—	Ameriprise Financial Inc.	4,538	$1.079M	0.2%	—	—	COM	03076c106
—	Grand Canyon Education, Inc.	11,405	$1.074M	0.2%	—	—	COM	38526m106
SBUX	Starbucks Corp	13,253	$1.012M	0.2%	—	—	COM	855244109
AXP	American Express Co.	7,288	$1.01M	0.2%	—	—	COM	025816109
INTC	Intel Corp.	26,561	$994K	0.2%	—	—	COM	458140100
TELFY	Telefonica S.A. ADR	191,011	$980K	0.2%	—	—	FOR	879382208
—	Sally Beauty Holdings Inc.	80,336	$958K	0.2%	—	—	COM	79546e104
SHEL	Shell PLC	17,496	$915K	0.2%	—	—	FOR	780259305
FORR	Forrester Research Inc.	19,050	$911K	0.2%	—	—	COM	346563109
ORCL	Oracle Corp	12,618	$882K	0.2%	—	—	COM	68389X105
CAG	ConAgra Foods Inc.	25,460	$872K	0.2%	—	—	COM	205887102
—	Trane Technologies PLC	6,705	$871K	0.2%	—	—	FOR	g8994e103
—	FirstService Corp Voting Share	7,123	$863K	0.2%	—	—	FOR	33767e103
GILD	Gilead Sciences Inc.	13,308	$823K	0.1%	—	—	COM	375558103
CIGI	Colliers International Group	7,160	$786K	0.1%	—	—	FOR	194693107
—	Paramount Global B	31,680	$782K	0.1%	—	—	COM	92556h206
—	AON Plc	2,852	$769K	0.1%	—	—	FOR	g0403h108
CAE	CAE Inc.	30,935	$762K	0.1%	—	—	FOR	124765108
—	AT & T, Inc. New	35,322	$740K	0.1%	—	—	COM	00206r102
LMT	Lockheed Martin Corp	1,520	$654K	0.1%	—	—	COM	539830109
CAT	Caterpillar Inc.	3,540	$633K	0.1%	—	—	COM	149123101
LW	Lamb Weston Holdings	8,334	$596K	0.1%	—	—	COM	513272104
—	Credit Suisse Group ADR	104,853	$595K	0.1%	—	—	FOR	225401108
AMZN	Amazon.com, Inc.	5,320	$565K	0.1%	—	—	COM	023135106
—	Yum China Holdings, Inc.	10,645	$516K	0.1%	—	—	FOR	98850p109
PH	Parker-Hannifin Corp.	2,010	$495K	0.1%	—	—	COM	701094104
IFF	International Flavors & Fragra	4,102	$489K	0.1%	—	—	COM	459506101
—	Alphabet, Inc Non-Voting Class	221	$483K	0.1%	—	—	COM	02079k107
KHC	The Kraft Heinz Company	11,979	$457K	0.1%	—	—	COM	500754106
—	Keurig Dr. Pepper Inc.	12,924	$457K	0.1%	—	—	COM	49271v100
TSM	Taiwan Semiconductor Manufactu	5,487	$449K	0.1%	—	—	FOR	874039100
—	Alkermes PLC	14,741	$439K	0.1%	—	—	FOR	g01767105
USB	US Bancorp Delaware New	9,535	$439K	0.1%	—	—	COM	902973304
WY	Weyerhaeuser Co.	13,172	$436K	0.1%	—	—	COM	962166104
WU	Western Union Company	26,122	$430K	0.1%	—	—	COM	959802109
AGCO	AGCO Corp	4,150	$410K	0.1%	—	—	COM	001084102
ALK	Alaska Air Group Inc.	9,845	$394K	0.1%	—	—	COM	011659109
QCOM	Qualcomm Inc	3,042	$389K	0.1%	—	—	COM	747525103
HPQ	HP Inc.	11,324	$371K	0.1%	—	—	COM	40434L105
—	Allegion PLC	3,605	$353K	0.1%	—	—	FOR	g0176j109
GIS	General Mills	4,321	$326K	0.1%	—	—	COM	370334104
LUMN	Lumen Technologies, Inc.	29,500	$322K	0.1%	—	—	COM	550241103
—	ManpowerGroup Inc.	4,115	$314K	0.1%	—	—	COM	56418h100
VALU	Value Line Inc.	4,339	$287K	0.1%	—	—	COM	920437100
—	Laboratory Corp. of America	1,195	$280K	0.1%	—	—	COM	50540r409
WM	Waste Management Inc. Del	1,757	$269K	0.0%	—	—	COM	94106L109
SWK	Stanley Black & Decker Inc.	2,556	$268K	0.0%	—	—	COM	854502101
KLAC	Kla-Tencor Corp	835	$266K	0.0%	—	—	COM	482480100
ADBE	Adobe Systems Inc	701	$257K	0.0%	—	—	COM	00724F101
—	Ingersoll Rand Inc.	6,055	$255K	0.0%	—	—	COM	45687v106
TPR	Tapestry Inc.	8,205	$250K	0.0%	—	—	COM	876030107
—	Interpublic Group	8,912	$245K	0.0%	—	—	COM	460690100
TM	Toyota Motor Corp ADR	1,590	$245K	0.0%	—	—	FOR	892331307
SM	SM Energy Company	7,040	$241K	0.0%	—	—	COM	78454L100
LLY	Eli Lilly & Co	726	$235K	0.0%	—	—	COM	532457108
—	Enbridge Inc.	5,257	$222K	0.0%	—	—	FOR	29250n105
CSX	CSX Corp	7,566	$220K	0.0%	—	—	COM	126408103
NUE	Nucor Corp	1,960	$205K	0.0%	—	—	COM	670346105
DLR	Digital Realty Trust	1,569	$204K	0.0%	—	—	COM	253868103
ITW	Illinois Tool Works Inc.	1,104	$201K	0.0%	—	—	COM	452308109
F	Ford Motor Co.- New	14,882	$166K	0.0%	—	—	COM	345370860
—	Hewlett Packard Enterprise Co.	11,821	$157K	0.0%	—	—	COM	42824c109
—	Global Medical REIT, Inc.	12,000	$135K	0.0%	—	—	COM	37954a204
—	Viatris Inc.	10,390	$109K	0.0%	—	—	COM	92556v106
—	WW International, Inc.	14,102	$90,000	0.0%	—	—	COM	98262p101
NOK	Nokia Corp Sponsored ADR	15,757	$73,000	0.0%	—	—	FOR	654902204
LYG	Lloyds TSB Group	16,500	$34,000	0.0%	—	—	COM	539439109
—	IsoRay, Inc.	14,218	$4,000	0.0%	—	—	COM	46489v104