Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	UnitedHealth Group Inc.	81,762	$41.29M	8.0%	—	—	COM	91324p102
MSFT	Microsoft Corp.	118,424	$27.58M	5.3%	—	—	COM	594918104
ELV	Elevance Health Inc.	46,569	$21.15M	4.1%	—	—	COM	036752103
PM	Philip Morris International	204,112	$16.94M	3.3%	—	—	COM	718172109
KR	Kroger Co.	373,957	$16.36M	3.2%	—	—	COM	501044101
PEP	Pepsico Inc.	84,259	$13.76M	2.7%	—	—	COM	713448108
—	Mastercard Inc.	46,830	$13.32M	2.6%	—	—	COM	57636q104
JNJ	Johnson & Johnson	76,850	$12.55M	2.4%	—	—	COM	478160104
—	Medtronic PLC	143,107	$11.56M	2.2%	—	—	FOR	g5960L103
—	Merck & Co.Inc. New	125,917	$10.84M	2.1%	—	—	COM	58933y105
CVS	CVS Health Corp.	108,401	$10.34M	2.0%	—	—	COM	126650100
BAC	Bank of America Corp	340,006	$10.27M	2.0%	—	—	COM	060505104
BK	Bank of New York Mellon Corp	235,374	$9.067M	1.7%	—	—	COM	064058100
—	Alphabet, Inc Voting Class	85,480	$8.176M	1.6%	—	—	COM	02079k305
—	The Travelers Companies Inc.	52,090	$7.98M	1.5%	—	—	COM	89417e109
—	Visa, Inc.	42,607	$7.569M	1.5%	—	—	COM	92826c839
ABT	Abbott Laboratories	75,338	$7.29M	1.4%	—	—	COM	002824100
AFL	AFLAC Inc.	128,002	$7.194M	1.4%	—	—	COM	001055102
HD	Home Depot Inc.	25,828	$7.127M	1.4%	—	—	COM	437076102
CI	Cigna Corp	25,661	$7.12M	1.4%	—	—	COM	125523100
BRK/B	Berkshire Hathaway Inc. Class	25,498	$6.808M	1.3%	—	—	COM	084670702
WMT	Wal Mart Stores	51,732	$6.71M	1.3%	—	—	COM	931142103
LOW	Lowes Companies	35,378	$6.644M	1.3%	—	—	COM	548661107
—	Valero Energy Corp.	60,947	$6.512M	1.3%	—	—	COM	91913y100
—	Zimmer Biomet Holdings	62,034	$6.486M	1.2%	—	—	COM	98956p102
—	Altria Group Inc.	160,226	$6.47M	1.2%	—	—	COM	02209s103
—	Biogen Inc.	23,700	$6.328M	1.2%	—	—	COM	09062x103
BP	BP p.l.c.	202,264	$5.775M	1.1%	—	—	FOR	055622104
KO	Coca-Cola Company	100,678	$5.64M	1.1%	—	—	COM	191216100
—	Molson Coors Brewing Co	112,216	$5.385M	1.0%	—	—	COM	60871r209
MRSH	Marsh & McLennan Co.	34,759	$5.189M	1.0%	—	—	COM	571748102
—	LyondellBasell Industries N.V.	67,853	$5.108M	1.0%	—	—	FOR	n53745100
AIG	American International Group	105,497	$5.009M	1.0%	—	—	COM	026874784
GLW	Corning Inc	165,626	$4.806M	0.9%	—	—	COM	219350105
—	AbbVie, Inc.	35,388	$4.749M	0.9%	—	—	COM	00287y109
PAYX	Paychex Inc.	42,091	$4.723M	0.9%	—	—	COM	704326107
AAPL	Apple, Inc.	31,563	$4.362M	0.8%	—	—	COM	037833100
—	Costco Wholesale Corp	9,077	$4.287M	0.8%	—	—	COM	22160k105
—	Unilever PCL ADR	94,663	$4.15M	0.8%	—	—	FOR	904767704
DGX	Quest Diagnostics Inc.	31,097	$3.815M	0.7%	—	—	COM	74834L100
BTI	British American Tobacco	105,260	$3.737M	0.7%	—	—	FOR	110448107
CVX	Chevron Corp.	25,119	$3.609M	0.7%	—	—	COM	166764100
BKNG	Booking Holdings Inc.	2,170	$3.566M	0.7%	—	—	COM	09857L108
CTVA	Corteva, Inc.	57,353	$3.278M	0.6%	—	—	COM	22052L104
C	Citigroup Inc.	76,175	$3.174M	0.6%	—	—	COM	172967424
—	Monster Beverage Corp.	35,800	$3.113M	0.6%	—	—	COM	61174x109
—	The Mosaic Company	63,881	$3.087M	0.6%	—	—	COM	61945c103
—	ConocoPhillips	29,224	$2.991M	0.6%	—	—	COM	20825c104
BDX	Becton Dickinson & Co	13,345	$2.974M	0.6%	—	—	COM	075887109
PFE	Pfizer Inc.	67,866	$2.97M	0.6%	—	—	COM	717081103
—	Comcast Corp Cl A	96,755	$2.838M	0.5%	—	—	COM	20030n101
BEN	Franklin Resources Inc.	129,673	$2.791M	0.5%	—	—	COM	354613101
MCD	McDonalds Corp	11,904	$2.747M	0.5%	—	—	COM	580135101
—	Unum Group	68,317	$2.651M	0.5%	—	—	COM	91529y106
CE	Celanese Corp	29,325	$2.649M	0.5%	—	—	COM	150870103
PG	Procter & Gamble Co.	20,970	$2.647M	0.5%	—	—	COM	742718109
UPS	United Parcel Service Inc.	16,110	$2.602M	0.5%	—	—	COM	911312106
—	DuPont de Nemours, Inc	50,796	$2.56M	0.5%	—	—	COM	26614n102
—	Raytheon Technologies	31,116	$2.547M	0.5%	—	—	COM	75513e101
DOW	Dow Inc.	57,186	$2.512M	0.5%	—	—	COM	260557103
—	Arcos Dorados Hldgs.	341,547	$2.49M	0.5%	—	—	FOR	g0457f107
CTSH	Cognizant Technology Solutions	41,893	$2.406M	0.5%	—	—	COM	192446102
HRB	H&R Block Inc.	54,182	$2.305M	0.4%	—	—	COM	093671105
WBD	Warner Bros. Discovery, Inc.	190,983	$2.196M	0.4%	—	—	COM	934423104
—	Textainer Group Holdings Limit	78,275	$2.102M	0.4%	—	—	FOR	g8766e109
BMY	Bristol Myers Squibb Co.	29,247	$2.079M	0.4%	—	—	COM	110122108
FDX	Fedex Corp	13,935	$2.069M	0.4%	—	—	COM	31428X106
MDLZ	Mondelez International, Inc.	37,077	$2.033M	0.4%	—	—	COM	609207105
—	Diageo PLC ADR	11,949	$2.029M	0.4%	—	—	FOR	25243q205
AMGN	Amgen Inc.	8,908	$2.008M	0.4%	—	—	COM	031162100
CSCO	Cisco Sys Inc.	50,131	$2.005M	0.4%	—	—	COM	17275R102
—	Meta Platforms, Inc.	14,760	$2.003M	0.4%	—	—	COM	30303m102
UNP	Union Pacific Corp	9,693	$1.888M	0.4%	—	—	COM	907818108
BA	Boeing Company	15,506	$1.877M	0.4%	—	—	COM	097023105
—	America Movil ADR	112,431	$1.852M	0.4%	—	—	FOR	02364W105
CPF	Central Pacific Financial Co	88,000	$1.821M	0.4%	—	—	COM	154760409
ADP	Automatic Data Processing	8,042	$1.819M	0.4%	—	—	COM	053015103
DIS	The Walt Disney Co.	15,878	$1.498M	0.3%	—	—	COM	254687106
WFC	Wells Fargo & Co.	36,567	$1.471M	0.3%	—	—	COM	949746101
PSX	Phillips 66	17,812	$1.438M	0.3%	—	—	COM	718546104
WAFD	Washington Federal	44,963	$1.348M	0.3%	—	—	COM	938824109
VZ	Verizon Communications	35,031	$1.33M	0.3%	—	—	COM	92343V104
—	Gates Industrial Corporation P	133,699	$1.305M	0.3%	—	—	COM	g39108108
NKE	Nike Inc Class B	15,440	$1.283M	0.2%	—	—	COM	654106103
YUM	Yum! Brands, Inc.	11,730	$1.247M	0.2%	—	—	COM	988498101
LINC	Lincoln Educational	228,374	$1.242M	0.2%	—	—	COM	533535100
—	General Motors Company	38,674	$1.241M	0.2%	—	—	COM	37045v100
—	Grand Canyon Education, Inc.	14,455	$1.189M	0.2%	—	—	COM	38526m106
—	DR Horton, Inc	17,220	$1.16M	0.2%	—	—	COM	23331a109
—	Alibaba Group Holding Limited	14,495	$1.159M	0.2%	—	—	FOR	01609w102
—	Ameriprise Financial Inc.	4,538	$1.143M	0.2%	—	—	COM	03076c106
—	Organon & Co.	48,510	$1.135M	0.2%	—	—	COM	68622v106
XOM	Exxon Mobil Corp	12,866	$1.123M	0.2%	—	—	COM	30231G102
SBUX	Starbucks Corp	13,253	$1.117M	0.2%	—	—	COM	855244109
—	Manitex Intl	182,681	$1.047M	0.2%	—	—	COM	563420108
GSK	Glaxo SmithKline ADS	35,461	$1.044M	0.2%	—	—	FOR	37733W204
—	Sally Beauty Holdings Inc.	79,236	$998K	0.2%	—	—	COM	79546e104
AXP	American Express Co.	7,288	$983K	0.2%	—	—	COM	025816109
—	Trane Technologies PLC	6,705	$971K	0.2%	—	—	FOR	g8994e103
SHEL	Shell PLC	17,496	$871K	0.2%	—	—	FOR	780259305
—	FirstService Corp Voting Share	7,123	$848K	0.2%	—	—	FOR	33767e103
CAG	ConAgra Foods Inc.	25,460	$831K	0.2%	—	—	COM	205887102
GILD	Gilead Sciences Inc.	13,238	$817K	0.2%	—	—	COM	375558103
ORCL	Oracle Corp	12,618	$771K	0.1%	—	—	COM	68389X105
—	AON Plc	2,852	$764K	0.1%	—	—	FOR	g0403h108
FORR	Forrester Research Inc.	19,050	$686K	0.1%	—	—	COM	346563109
INTC	Intel Corp.	26,111	$673K	0.1%	—	—	COM	458140100
CIGI	Colliers International Group	7,160	$656K	0.1%	—	—	FOR	194693107
LW	Lamb Weston Holdings	8,334	$645K	0.1%	—	—	COM	513272104
TELFY	Telefonica S.A. ADR	189,934	$615K	0.1%	—	—	FOR	879382208
—	Paramount Global B	31,680	$603K	0.1%	—	—	COM	92556h206
AMZN	Amazon.com, Inc.	5,320	$601K	0.1%	—	—	COM	023135106
LMT	Lockheed Martin Corp	1,520	$587K	0.1%	—	—	COM	539830109
CAT	Caterpillar Inc.	3,540	$581K	0.1%	—	—	COM	149123101
—	AT & T, Inc. New	34,559	$530K	0.1%	—	—	COM	00206r102
—	Yum China Holdings, Inc.	10,645	$504K	0.1%	—	—	FOR	98850p109
PH	Parker-Hannifin Corp.	2,060	$499K	0.1%	—	—	COM	701094104
CAE	CAE Inc.	30,935	$474K	0.1%	—	—	FOR	124765108
—	Keurig Dr. Pepper Inc.	12,924	$463K	0.1%	—	—	COM	49271v100
—	Alphabet, Inc Non-Voting Class	4,620	$444K	0.1%	—	—	COM	02079k107
AGCO	AGCO Corp	4,150	$399K	0.1%	—	—	COM	001084102
KHC	The Kraft Heinz Company	11,979	$399K	0.1%	—	—	COM	500754106
ALK	Alaska Air Group Inc.	9,845	$385K	0.1%	—	—	COM	011659109
USB	US Bancorp Delaware New	9,535	$384K	0.1%	—	—	COM	902973304
IFF	International Flavors & Fragra	4,152	$377K	0.1%	—	—	COM	459506101
WY	Weyerhaeuser Co.	13,172	$376K	0.1%	—	—	COM	962166104
TSM	Taiwan Semiconductor Manufactu	5,487	$376K	0.1%	—	—	FOR	874039100
WU	Western Union Company	26,122	$353K	0.1%	—	—	COM	959802109
QCOM	Qualcomm Inc	3,042	$344K	0.1%	—	—	COM	747525103
—	Alkermes PLC	14,741	$329K	0.1%	—	—	FOR	g01767105
—	Allegion PLC	3,605	$323K	0.1%	—	—	FOR	g0176j109
—	Credit Suisse Group ADR	79,903	$313K	0.1%	—	—	FOR	225401108
HPQ	HP Inc.	11,324	$282K	0.1%	—	—	COM	40434L105
WM	Waste Management Inc. Del	1,757	$281K	0.1%	—	—	COM	94106L109
HLN	Haleon PLC	44,731	$272K	0.1%	—	—	FOR	405552100
—	ManpowerGroup Inc.	4,115	$266K	0.1%	—	—	COM	56418h100
—	Ingersoll Rand Inc.	6,055	$262K	0.1%	—	—	COM	45687v106
KLAC	Kla-Tencor Corp	835	$253K	0.0%	—	—	COM	482480100
—	Laboratory Corp. of America	1,195	$245K	0.0%	—	—	COM	50540r409
SM	SM Energy Company	6,290	$237K	0.0%	—	—	COM	78454L100
LLY	Eli Lilly & Co	726	$235K	0.0%	—	—	COM	532457108
TPR	Tapestry Inc.	8,155	$232K	0.0%	—	—	COM	876030107
—	Interpublic Group	8,912	$228K	0.0%	—	—	COM	460690100
NUE	Nucor Corp	1,960	$210K	0.0%	—	—	COM	670346105
LUMN	Lumen Technologies, Inc.	28,550	$208K	0.0%	—	—	COM	550241103
TM	Toyota Motor Corp ADR	1,590	$207K	0.0%	—	—	FOR	892331307
CSX	CSX Corp	7,566	$202K	0.0%	—	—	COM	126408103
F	Ford Motor Co.- New	14,882	$167K	0.0%	—	—	COM	345370860
—	Hewlett Packard Enterprise Co.	11,821	$142K	0.0%	—	—	COM	42824c109
—	Global Medical REIT, Inc.	12,000	$102K	0.0%	—	—	COM	37954a204
—	Viatris Inc.	10,088	$86,000	0.0%	—	—	COM	92556v106
NOK	Nokia Corp Sponsored ADR	15,457	$66,000	0.0%	—	—	FOR	654902204
—	WW International, Inc.	14,102	$55,000	0.0%	—	—	COM	98262p101
LYG	Lloyds TSB Group	16,500	$30,000	0.0%	—	—	COM	539439109
—	IsoRay, Inc.	14,218	$3,000	0.0%	—	—	COM	46489v104