Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	Microsoft Corp.	112,053	$47.14M	7.2%	—	—	COM	594918104
—	UnitedHealth Group Inc.	67,235	$33.26M	5.1%	—	—	COM	91324p102
ELV	Elevance Health Inc.	43,734	$22.68M	3.4%	—	—	COM	036752103
KR	Kroger Co.	373,128	$21.32M	3.2%	—	—	COM	501044101
PM	Philip Morris International	220,212	$20.18M	3.1%	—	—	COM	718172109
—	Mastercard Inc.	38,826	$18.7M	2.8%	—	—	COM	57636q104
—	Merck & Co.Inc. New	120,597	$15.91M	2.4%	—	—	COM	58933y105
PEP	Pepsico Inc.	80,581	$14.1M	2.1%	—	—	COM	713448108
—	Alphabet, Inc Voting Class	89,617	$13.53M	2.1%	—	—	COM	02079k305
BAC	Bank of America Corp	339,179	$12.86M	2.0%	—	—	COM	060505104
BK	Bank of New York Mellon Corp	222,719	$12.83M	2.0%	—	—	COM	064058100
—	Medtronic PLC	147,140	$12.82M	2.0%	—	—	FOR	g5960L103
JNJ	Johnson & Johnson	74,630	$11.81M	1.8%	—	—	COM	478160104
—	Visa, Inc.	41,682	$11.63M	1.8%	—	—	COM	92826c839
—	The Travelers Companies Inc.	47,081	$10.84M	1.6%	—	—	COM	89417e109
BRK/B	Berkshire Hathaway Inc. Class	24,963	$10.5M	1.6%	—	—	COM	084670702
LOW	Lowes Companies	40,660	$10.36M	1.6%	—	—	COM	548661107
AFL	AFLAC Inc.	119,269	$10.24M	1.6%	—	—	COM	001055102
—	Valero Energy Corp.	59,953	$10.23M	1.6%	—	—	COM	91913y100
HD	Home Depot Inc.	25,019	$9.597M	1.5%	—	—	COM	437076102
CI	The Cigna Group	25,647	$9.315M	1.4%	—	—	COM	125523100
WMT	Wal Mart Stores	147,798	$8.893M	1.4%	—	—	COM	931142103
CVS	CVS Health Corp.	110,191	$8.789M	1.3%	—	—	COM	126650100
AIG	American International Group	104,324	$8.155M	1.2%	—	—	COM	026874784
ABT	Abbott Laboratories	71,100	$8.081M	1.2%	—	—	COM	002824100
—	Zimmer Biomet Holdings	60,960	$8.046M	1.2%	—	—	COM	98956p102
BKNG	Booking Holdings Inc.	2,150	$7.8M	1.2%	—	—	COM	09857L108
—	Molson Coors Brewing Co	110,761	$7.449M	1.1%	—	—	COM	60871r209
MRSH	Marsh & McLennan Co.	35,613	$7.336M	1.1%	—	—	COM	571748102
BP	BP p.l.c.	193,614	$7.295M	1.1%	—	—	FOR	055622104
—	Meta Platforms, Inc.	14,585	$7.082M	1.1%	—	—	COM	30303m102
—	LyondellBasell Industries N.V.	66,011	$6.752M	1.0%	—	—	FOR	n53745100
—	Altria Group Inc.	153,013	$6.674M	1.0%	—	—	COM	02209s103
—	AbbVie, Inc.	33,689	$6.135M	0.9%	—	—	COM	00287y109
—	Unilever PLC ADR	119,543	$6M	0.9%	—	—	FOR	904767704
KO	Coca-Cola Company	95,574	$5.847M	0.9%	—	—	COM	191216100
—	Costco Wholesale Corp	7,549	$5.531M	0.8%	—	—	COM	22160k105
PAYX	Paychex Inc.	41,119	$5.049M	0.8%	—	—	COM	704326107
AAPL	Apple, Inc.	28,986	$4.971M	0.8%	—	—	COM	037833100
BTI	British American Tobacco	160,996	$4.91M	0.7%	—	—	FOR	110448107
CE	Celanese Corp	28,109	$4.831M	0.7%	—	—	COM	150870103
GLW	Corning Inc	143,851	$4.741M	0.7%	—	—	COM	219350105
C	Citigroup Inc.	70,596	$4.464M	0.7%	—	—	COM	172967424
CVX	Chevron Corp.	28,187	$4.446M	0.7%	—	—	COM	166764100
—	Monster Beverage Corp.	71,600	$4.244M	0.6%	—	—	COM	61174x109
—	Comcast Corp Cl A	94,236	$4.085M	0.6%	—	—	COM	20030n101
FDX	Fedex Corp	13,521	$3.918M	0.6%	—	—	COM	31428X106
—	RTX Corp.	39,295	$3.832M	0.6%	—	—	COM	75513e101
—	DuPont de Nemours, Inc	49,777	$3.816M	0.6%	—	—	COM	26614n102
DGX	Quest Diagnostics Inc.	28,215	$3.756M	0.6%	—	—	COM	74834L100
—	ConocoPhillips	28,577	$3.637M	0.6%	—	—	COM	20825c104
—	Biogen Inc.	16,605	$3.581M	0.5%	—	—	COM	09062x103
—	Arcos Dorados Hldgs.	306,931	$3.413M	0.5%	—	—	FOR	g0457f107
CTVA	Corteva, Inc.	57,285	$3.304M	0.5%	—	—	COM	22052L104
BDX	Becton Dickinson & Co	13,165	$3.258M	0.5%	—	—	COM	075887109
PG	Procter & Gamble Co.	19,924	$3.233M	0.5%	—	—	COM	742718109
DOW	Dow Inc.	55,519	$3.216M	0.5%	—	—	COM	260557103
MCD	McDonalds Corp	11,301	$3.186M	0.5%	—	—	COM	580135101
—	Unum Group	58,697	$3.15M	0.5%	—	—	COM	91529y106
—	Gates Industrial Corporation P	167,249	$2.962M	0.5%	—	—	COM	g39108108
CTSH	Cognizant Technology Solutions	40,011	$2.932M	0.4%	—	—	COM	192446102
PSX	Phillips 66	17,480	$2.855M	0.4%	—	—	COM	718546104
BA	Boeing Company	14,375	$2.774M	0.4%	—	—	COM	097023105
—	DR Horton, Inc	16,700	$2.748M	0.4%	—	—	COM	23331a109
AMGN	Amgen Inc.	9,015	$2.563M	0.4%	—	—	COM	031162100
MDLZ	Mondelez International, Inc.	35,859	$2.51M	0.4%	—	—	COM	609207105
HRB	H&R Block Inc.	49,555	$2.434M	0.4%	—	—	COM	093671105
LINC	Lincoln Educational	233,324	$2.41M	0.4%	—	—	COM	533535100
—	Keurig Dr. Pepper Inc.	76,949	$2.36M	0.4%	—	—	COM	49271v100
UPS	United Parcel Service Inc.	15,520	$2.307M	0.4%	—	—	COM	911312106
UNP	Union Pacific Corp	9,365	$2.303M	0.4%	—	—	COM	907818108
CSCO	Cisco Sys Inc.	46,004	$2.296M	0.3%	—	—	COM	17275R102
HSY	Hershey Company	11,510	$2.239M	0.3%	—	—	COM	427866108
—	Trane Technologies PLC	6,683	$2.006M	0.3%	—	—	FOR	g8994e103
—	Grand Canyon Education, Inc.	14,455	$1.969M	0.3%	—	—	COM	38526m106
—	The Mosaic Company	60,595	$1.967M	0.3%	—	—	COM	61945c103
—	Diageo PLC ADR	13,184	$1.961M	0.3%	—	—	FOR	25243q205
WFC	Wells Fargo & Co.	33,752	$1.956M	0.3%	—	—	COM	949746101
ADP	Automatic Data Processing	7,777	$1.942M	0.3%	—	—	COM	053015103
—	Ameriprise Financial Inc.	4,401	$1.93M	0.3%	—	—	COM	03076c106
PFE	Pfizer Inc.	68,535	$1.902M	0.3%	—	—	COM	717081103
DIS	The Walt Disney Co.	15,219	$1.862M	0.3%	—	—	COM	254687106
CPF	Central Pacific Financial Corp	87,400	$1.726M	0.3%	—	—	COM	154760409
WBD	Warner Bros. Discovery, Inc.	189,959	$1.658M	0.3%	—	—	COM	934423104
AXP	American Express Co.	7,188	$1.637M	0.2%	—	—	COM	025816109
BEN	Franklin Resources Inc.	57,895	$1.627M	0.2%	—	—	COM	354613101
ORCL	Oracle Corp	12,583	$1.581M	0.2%	—	—	COM	68389X105
YUM	Yum! Brands, Inc.	11,370	$1.576M	0.2%	—	—	COM	988498101
—	America Movil ADR	82,191	$1.534M	0.2%	—	—	FOR	02390a101
XOM	Exxon Mobil Corp	12,821	$1.49M	0.2%	—	—	COM	30231G102
—	General Motors Company	32,609	$1.479M	0.2%	—	—	COM	37045v100
GPC	Genuine Parts Co	9,308	$1.442M	0.2%	—	—	COM	372460105
VZ	Verizon Communications	32,825	$1.377M	0.2%	—	—	COM	92343V104
BMY	Bristol Myers Squibb Co.	25,170	$1.365M	0.2%	—	—	COM	110122108
GSK	Glaxo SmithKline ADS	31,712	$1.359M	0.2%	—	—	FOR	37733W204
NKE	Nike Inc Class B	14,001	$1.316M	0.2%	—	—	COM	654106103
PH	Parker-Hannifin Corp.	2,262	$1.257M	0.2%	—	—	COM	701094104
CAE	CAE Inc.	58,230	$1.202M	0.2%	—	—	FOR	124765108
CAT	Caterpillar Inc.	3,230	$1.184M	0.2%	—	—	COM	149123101
—	Manitex Intl	166,651	$1.143M	0.2%	—	—	COM	563420108
WAFD	Washington Federal	39,294	$1.141M	0.2%	—	—	COM	938824109
—	FirstService Corp Voting Share	6,873	$1.14M	0.2%	—	—	FOR	33767e202
SBUX	Starbucks Corp	12,424	$1.135M	0.2%	—	—	COM	855244109
—	Sally Beauty Holdings Inc.	90,377	$1.122M	0.2%	—	—	COM	79546e104
SHEL	Shell PLC	16,346	$1.096M	0.2%	—	—	FOR	780259305
INTC	Intel Corp.	24,686	$1.09M	0.2%	—	—	COM	458140100
AMZN	Amazon.com, Inc.	5,690	$1.026M	0.2%	—	—	COM	023135106
CIGI	Colliers International Group	7,660	$936K	0.1%	—	—	FOR	194693107
—	AON Plc	2,742	$915K	0.1%	—	—	FOR	g0403h108
GILD	Gilead Sciences Inc.	11,835	$867K	0.1%	—	—	COM	375558103
—	Alphabet, Inc Non-Voting Class	4,954	$754K	0.1%	—	—	COM	02079k107
FORR	Forrester Research Inc.	34,783	$750K	0.1%	—	—	COM	346563109
TSM	Taiwan Semiconductor Manufactu	5,487	$747K	0.1%	—	—	FOR	874039100
TELFY	Telefonica S.A. ADR	166,394	$734K	0.1%	—	—	FOR	879382208
—	Alibaba Group Holding Limited	9,784	$708K	0.1%	—	—	FOR	01609w102
—	Organon & Co.	37,638	$708K	0.1%	—	—	COM	68622v106
CAG	ConAgra Foods Inc.	23,600	$700K	0.1%	—	—	COM	205887102
—	Domino's Pizza Inc.	1,400	$696K	0.1%	—	—	COM	25754a201
LMT	Lockheed Martin Corp	1,498	$681K	0.1%	—	—	COM	539830109
GD	General Dynamics	2,382	$673K	0.1%	—	—	COM	369550108
—	Kenvue Inc.	27,357	$587K	0.1%	—	—	COM	49177j102
KLAC	KLA Corporation	835	$583K	0.1%	—	—	COM	482480100
—	Ingersoll Rand Inc.	6,055	$575K	0.1%	—	—	COM	45687v106
LLY	Eli Lilly & Co	700	$545K	0.1%	—	—	COM	532457108
QCOM	Qualcomm Inc	3,042	$515K	0.1%	—	—	COM	747525103
USB	US Bancorp Delaware New	11,509	$514K	0.1%	—	—	COM	902973304
AGCO	AGCO Corp	4,170	$513K	0.1%	—	—	COM	001084102
—	Allegion PLC	3,605	$486K	0.1%	—	—	FOR	g0176j109
—	Devon Energy Corp.	9,400	$472K	0.1%	—	—	COM	25179m103
—	Arch Capital Group Ltd	5,100	$471K	0.1%	—	—	FOR	g0450a105
—	Ferguson PLC	2,000	$437K	0.1%	—	—	FOR	g3421j106
LW	Lamb Weston Holdings	4,005	$427K	0.1%	—	—	COM	513272104
—	Johnson Controls Intl. PLC	6,522	$426K	0.1%	—	—	FOR	g51502105
TSCO	Tractor Supply Co.	1,600	$419K	0.1%	—	—	COM	892356106
GE	General Electric Co.	2,353	$413K	0.1%	—	—	COM	369604301
—	AT & T, Inc. New	23,298	$410K	0.1%	—	—	COM	00206r102
—	Yum China Holdings, Inc.	10,268	$409K	0.1%	—	—	FOR	98850p109
KHC	The Kraft Heinz Company	10,564	$390K	0.1%	—	—	COM	500754106
WY	Weyerhaeuser Co.	10,796	$388K	0.1%	—	—	COM	962166104
NUE	Nucor Corp	1,953	$386K	0.1%	—	—	COM	670346105
ALK	Alaska Air Group Inc.	8,795	$378K	0.1%	—	—	COM	011659109
HPQ	HP Inc.	12,162	$368K	0.1%	—	—	COM	40434L105
TM	Toyota Motor Corp ADR	1,429	$360K	0.1%	—	—	FOR	892331307
HLN	Haleon PLC	41,865	$355K	0.1%	—	—	FOR	405552100
TPR	Tapestry Inc.	7,270	$345K	0.1%	—	—	COM	876030107
WM	Waste Management Inc. Del	1,607	$343K	0.1%	—	—	COM	94106L109
WU	Western Union Company	23,590	$330K	0.1%	—	—	COM	959802109
ADBE	Adobe Systems Inc	653	$330K	0.1%	—	—	COM	00724F101
—	Alkermes PLC	11,891	$322K	0.0%	—	—	FOR	g01767105
IFF	International Flavors & Fragra	3,684	$317K	0.0%	—	—	COM	459506101
—	ManpowerGroup Inc.	3,932	$305K	0.0%	—	—	COM	56418h100
ITW	Illinois Tool Works Inc.	1,119	$300K	0.0%	—	—	COM	452308109
DAL	Delta Airlines - New	6,125	$293K	0.0%	—	—	COM	247361702
—	Interpublic Group	8,612	$281K	0.0%	—	—	COM	460690100
CSX	CSX Corp	7,566	$280K	0.0%	—	—	COM	126408103
DE	Deere & Co	660	$271K	0.0%	—	—	COM	244199105
SYK	Stryker Corporation	755	$270K	0.0%	—	—	COM	863667101
—	ASML Holding N.V.	277	$269K	0.0%	—	—	FOR	n07059178
EFX	Equifax Inc.	1,000	$268K	0.0%	—	—	COM	294429105
AMAT	Applied Materials Inc Delaware	1,283	$265K	0.0%	—	—	COM	038222105
SM	SM Energy Company	5,190	$259K	0.0%	—	—	COM	78454L100
ANDE	Andersons Inc.	4,489	$258K	0.0%	—	—	COM	034164103
OXY	Occidental Petroleum Corp	3,717	$242K	0.0%	—	—	COM	674599105
—	Nvidia Corp	263	$238K	0.0%	—	—	COM	67066g104
—	Hewlett Packard Enterprise Co.	13,359	$237K	0.0%	—	—	COM	42824c109
—	J P Morgan Chase & Co.	1,163	$233K	0.0%	—	—	COM	46625h100
—	Paramount Global B	19,301	$227K	0.0%	—	—	COM	92556h206
—	Laboratory Corp. of America	955	$209K	0.0%	—	—	COM	50540r409
—	Principal Financial Group	2,322	$200K	0.0%	—	—	COM	74251v102
F	Ford Motor Co.- New	13,666	$181K	0.0%	—	—	COM	345370860
NOK	Nokia Corp Sponsored ADR	11,847	$41,938	0.0%	—	—	FOR	654902204
—	Perspective Therapeutics	10,218	$12,159	0.0%	—	—	COM	46489v104