Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	Microsoft Corp.	101,376	$38.06M	5.7%	—	—	COM	594918104
PM	Philip Morris International	211,453	$33.56M	5.0%	—	—	COM	718172109
—	UnitedHealth Group Inc.	63,896	$33.47M	5.0%	—	—	COM	91324p102
KR	Kroger Co.	359,885	$24.36M	3.6%	—	—	COM	501044101
—	Mastercard Inc.	37,004	$20.28M	3.0%	—	—	COM	57636q104
BK	Bank of New York Mellon Corp	218,276	$18.31M	2.7%	—	—	COM	064058100
ELV	Elevance Health Inc.	36,072	$15.69M	2.3%	—	—	COM	036752103
—	Visa, Inc.	40,193	$14.09M	2.1%	—	—	COM	92826c839
—	Alphabet, Inc Voting Class	88,417	$13.67M	2.0%	—	—	COM	02079k305
BAC	Bank of America Corp	326,336	$13.62M	2.0%	—	—	COM	060505104
AFL	AFLAC Inc.	117,697	$13.09M	2.0%	—	—	COM	001055102
BRK/B	Berkshire Hathaway Inc. Class	24,377	$12.98M	1.9%	—	—	COM	084670702
—	Medtronic PLC	141,144	$12.68M	1.9%	—	—	FOR	g5960L103
WMT	Wal Mart Stores	144,231	$12.66M	1.9%	—	—	COM	931142103
JNJ	Johnson & Johnson	72,369	$12M	1.8%	—	—	COM	478160104
PEP	Pepsico Inc.	78,584	$11.78M	1.8%	—	—	COM	713448108
—	The Travelers Companies Inc.	43,409	$11.48M	1.7%	—	—	COM	89417e109
—	Merck & Co.Inc. New	119,379	$10.72M	1.6%	—	—	COM	58933y105
AIG	American International Group	113,886	$9.901M	1.5%	—	—	COM	026874784
BKNG	Booking Holdings Inc.	2,145	$9.882M	1.5%	—	—	COM	09857L108
HD	Home Depot Inc.	24,842	$9.104M	1.4%	—	—	COM	437076102
ABT	Abbott Laboratories	68,557	$9.094M	1.4%	—	—	COM	002824100
BTI	British American Tobacco	219,326	$9.074M	1.4%	—	—	FOR	110448107
—	Altria Group Inc.	150,852	$9.054M	1.3%	—	—	COM	02209s103
LOW	Lowes Companies	38,201	$8.91M	1.3%	—	—	COM	548661107
MRSH	Marsh & McLennan Co.	33,973	$8.29M	1.2%	—	—	COM	571748102
—	Meta Platforms, Inc.	14,118	$8.137M	1.2%	—	—	COM	30303m102
—	Costco Wholesale Corp	7,990	$7.557M	1.1%	—	—	COM	22160k105
—	Valero Energy Corp.	57,055	$7.535M	1.1%	—	—	COM	91913y100
—	Zimmer Biomet Holdings	63,999	$7.243M	1.1%	—	—	COM	98956p102
CVS	CVS Health Corp.	102,572	$6.949M	1.0%	—	—	COM	126650100
—	AbbVie, Inc.	33,006	$6.915M	1.0%	—	—	COM	00287y109
—	Unilever PLC ADR	112,018	$6.671M	1.0%	—	—	FOR	904767704
KO	Coca-Cola Company	92,210	$6.604M	1.0%	—	—	COM	191216100
AAPL	Apple, Inc.	29,522	$6.558M	1.0%	—	—	COM	037833100
—	Molson Coors Brewing Co	107,500	$6.544M	1.0%	—	—	COM	60871r209
CI	The Cigna Group	19,878	$6.54M	1.0%	—	—	COM	125523100
BP	BP p.l.c.	181,118	$6.12M	0.9%	—	—	FOR	055622104
PAYX	Paychex Inc.	39,580	$6.106M	0.9%	—	—	COM	704326107
GLW	Corning Inc	129,226	$5.916M	0.9%	—	—	COM	219350105
C	Citigroup Inc.	70,318	$4.992M	0.7%	—	—	COM	172967424
—	Unum Group	57,727	$4.702M	0.7%	—	—	COM	91529y106
—	RTX Corp.	34,945	$4.629M	0.7%	—	—	COM	75513e101
—	LyondellBasell Industries N.V.	64,707	$4.555M	0.7%	—	—	FOR	n53745100
DGX	Quest Diagnostics Inc.	26,902	$4.552M	0.7%	—	—	COM	74834L100
CVX	Chevron Corp.	26,101	$4.366M	0.7%	—	—	COM	166764100
—	Monster Beverage Corp.	71,600	$4.19M	0.6%	—	—	COM	61174x109
LINC	Lincoln Educational	236,994	$3.761M	0.6%	—	—	COM	533535100
WAFD	Washington Federal	131,223	$3.75M	0.6%	—	—	COM	938824109
BDX	Becton Dickinson & Co	16,189	$3.708M	0.6%	—	—	COM	075887109
MCD	McDonalds Corp	11,309	$3.533M	0.5%	—	—	COM	580135101
—	DuPont de Nemours, Inc	47,293	$3.532M	0.5%	—	—	COM	26614n102
CTVA	Corteva, Inc.	54,232	$3.413M	0.5%	—	—	COM	22052L104
PG	Procter & Gamble Co.	18,980	$3.235M	0.5%	—	—	COM	742718109
—	Comcast Corp Cl A	85,401	$3.151M	0.5%	—	—	COM	20030n101
—	Gates Industrial Corporation P	166,611	$3.067M	0.5%	—	—	COM	g39108108
CTSH	Cognizant Technology Solutions	39,451	$3.018M	0.4%	—	—	COM	192446102
—	ConocoPhillips	28,500	$2.993M	0.4%	—	—	COM	20825c104
AMGN	Amgen Inc.	9,235	$2.877M	0.4%	—	—	COM	031162100
CSCO	Cisco Sys Inc.	45,118	$2.784M	0.4%	—	—	COM	17275R102
—	Arcos Dorados Hldgs.	317,793	$2.561M	0.4%	—	—	FOR	g0457f107
HRB	H&R Block Inc.	46,437	$2.55M	0.4%	—	—	COM	093671105
—	Grand Canyon Education, Inc.	14,410	$2.493M	0.4%	—	—	COM	38526m106
—	Ameriprise Financial Inc.	5,081	$2.46M	0.4%	—	—	COM	03076c106
—	Keurig Dr. Pepper Inc.	71,845	$2.459M	0.4%	—	—	COM	49271v100
BA	Boeing Company	13,636	$2.326M	0.3%	—	—	COM	097023105
MDLZ	Mondelez International, Inc.	33,940	$2.303M	0.3%	—	—	COM	609207105
HSY	Hershey Company	13,435	$2.298M	0.3%	—	—	COM	427866108
CPF	Central Pacific Financial Corp	84,945	$2.297M	0.3%	—	—	COM	154760409
WFC	Wells Fargo & Co.	31,787	$2.282M	0.3%	—	—	COM	949746101
—	Trane Technologies PLC	6,663	$2.245M	0.3%	—	—	FOR	g8994e103
—	DR Horton, Inc	17,200	$2.187M	0.3%	—	—	COM	23331a109
FDX	Fedex Corp	8,721	$2.126M	0.3%	—	—	COM	31428X106
PSX	Phillips 66	17,017	$2.101M	0.3%	—	—	COM	718546104
UNP	Union Pacific Corp	8,735	$2.064M	0.3%	—	—	COM	907818108
ADP	Automatic Data Processing	6,620	$2.023M	0.3%	—	—	COM	053015103
AXP	American Express Co.	7,093	$1.908M	0.3%	—	—	COM	025816109
DOW	Dow Inc.	54,148	$1.891M	0.3%	—	—	COM	260557103
—	Biogen Inc.	13,547	$1.854M	0.3%	—	—	COM	09062x103
ORCL	Oracle Corp	12,460	$1.742M	0.3%	—	—	COM	68389X105
UPS	United Parcel Service Inc.	15,675	$1.724M	0.3%	—	—	COM	911312106
YUM	Yum! Brands, Inc.	10,845	$1.707M	0.3%	—	—	COM	988498101
PFE	Pfizer Inc.	65,058	$1.649M	0.2%	—	—	COM	717081103
AMZN	Amazon.com, Inc.	8,585	$1.633M	0.2%	—	—	COM	023135106
—	The Mosaic Company	60,427	$1.632M	0.2%	—	—	COM	61945c103
—	AON Plc	3,967	$1.583M	0.2%	—	—	FOR	g0403h108
CE	Celanese Corp	27,339	$1.552M	0.2%	—	—	COM	150870103
XOM	Exxon Mobil Corp	12,889	$1.533M	0.2%	—	—	COM	30231G102
—	General Motors Company	31,387	$1.476M	0.2%	—	—	COM	37045v100
BMY	Bristol Myers Squibb Co.	23,702	$1.446M	0.2%	—	—	COM	110122108
VZ	Verizon Communications	31,673	$1.437M	0.2%	—	—	COM	92343V104
DIS	The Walt Disney Co.	14,523	$1.433M	0.2%	—	—	COM	254687106
PH	Parker-Hannifin Corp.	2,249	$1.367M	0.2%	—	—	COM	701094104
CAE	CAE Inc.	51,830	$1.274M	0.2%	—	—	FOR	124765108
—	Diageo PLC ADR	12,116	$1.27M	0.2%	—	—	FOR	25243q205
—	Alibaba Group Holding Limited	9,459	$1.251M	0.2%	—	—	FOR	01609w102
SBUX	Starbucks Corp	12,374	$1.214M	0.2%	—	—	COM	855244109
SHEL	Shell PLC	16,201	$1.187M	0.2%	—	—	FOR	780259305
—	FirstService Corp Voting Share	6,873	$1.141M	0.2%	—	—	FOR	33767e202
GSK	Glaxo SmithKline ADS	28,847	$1.118M	0.2%	—	—	FOR	37733W204
—	America Movil ADR	76,615	$1.089M	0.2%	—	—	FOR	02390a101
—	Alphabet, Inc Non-Voting Class	6,904	$1.079M	0.2%	—	—	COM	02079k107
CAT	Caterpillar Inc.	3,230	$1.065M	0.2%	—	—	COM	149123101
BEN	Franklin Resources Inc.	53,932	$1.038M	0.2%	—	—	COM	354613101
GILD	Gilead Sciences Inc.	9,198	$1.031M	0.2%	—	—	COM	375558103
TSM	Taiwan Semiconductor Manufactu	5,587	$927K	0.1%	—	—	FOR	874039100
—	Arch Capital Group Ltd	9,430	$907K	0.1%	—	—	FOR	g0450a105
NKE	Nike Inc Class B	14,051	$892K	0.1%	—	—	COM	654106103
GPC	Genuine Parts Co	7,340	$874K	0.1%	—	—	COM	372460105
CIGI	Colliers International Group	7,160	$869K	0.1%	—	—	FOR	194693107
WBD	Warner Bros. Discovery, Inc.	75,160	$806K	0.1%	—	—	COM	934423104
—	Sally Beauty Holdings Inc.	88,767	$802K	0.1%	—	—	COM	79546e104
TELFY	Telefonica S.A. ADR	157,746	$735K	0.1%	—	—	FOR	879382208
—	FTAI Aviation Ltd.	6,000	$666K	0.1%	—	—	COM	G3730v105
LMT	Lockheed Martin Corp	1,468	$656K	0.1%	—	—	COM	539830109
—	AT & T, Inc. New	21,187	$599K	0.1%	—	—	COM	00206r102
CAG	ConAgra Foods Inc.	22,414	$598K	0.1%	—	—	COM	205887102
—	Kenvue Inc.	24,381	$585K	0.1%	—	—	COM	49177j102
KLAC	KLA Corporation	835	$568K	0.1%	—	—	COM	482480100
USB	US Bancorp Delaware New	13,009	$549K	0.1%	—	—	COM	902973304
SCHW	Charles Schwab Corp	6,850	$536K	0.1%	—	—	COM	808513105
—	Organon & Co.	35,929	$535K	0.1%	—	—	COM	68622v106
INTC	Intel Corp.	22,997	$522K	0.1%	—	—	COM	458140100
LLY	Eli Lilly & Co	615	$508K	0.1%	—	—	COM	532457108
—	Yum China Holdings, Inc.	9,743	$507K	0.1%	—	—	FOR	98850p109
—	Ingersoll Rand Inc.	6,055	$485K	0.1%	—	—	COM	45687v106
—	Allegion PLC	3,605	$470K	0.1%	—	—	FOR	g0176j109
QCOM	Qualcomm Inc	3,042	$467K	0.1%	—	—	COM	747525103
TPR	Tapestry Inc.	6,315	$445K	0.1%	—	—	COM	876030107
OXY	Occidental Petroleum Corp	8,767	$433K	0.1%	—	—	COM	674599105
—	ASML Holding N.V.	642	$425K	0.1%	—	—	FOR	n07059210
GE	GE Aerospace	2,078	$416K	0.1%	—	—	COM	369604301
HLN	Haleon PLC	38,749	$399K	0.1%	—	—	FOR	405552100
—	Alkermes PLC	11,816	$390K	0.1%	—	—	FOR	g01767105
ALK	Alaska Air Group Inc.	7,605	$374K	0.1%	—	—	COM	011659109
WM	Waste Management Inc. Del	1,607	$372K	0.1%	—	—	COM	94106L109
—	Johnson Controls Intl. PLC	3,922	$314K	0.0%	—	—	FOR	g51502105
AGCO	AGCO Corp	3,376	$313K	0.0%	—	—	COM	001084102
HPQ	HP Inc.	11,262	$312K	0.0%	—	—	COM	40434L105
FORR	Forrester Research Inc.	33,412	$309K	0.0%	—	—	COM	346563109
WY	Weyerhaeuser Co.	9,890	$290K	0.0%	—	—	COM	962166104
—	Nvidia Corp	2,665	$289K	0.0%	—	—	COM	67066g104
SYK	Stryker Corporation	755	$281K	0.0%	—	—	COM	863667101
—	Devon Energy Corp.	7,450	$279K	0.0%	—	—	COM	25179m103
ITW	Illinois Tool Works Inc.	1,119	$278K	0.0%	—	—	COM	452308109
—	Domino's Pizza Inc.	600	$276K	0.0%	—	—	COM	25754a201
—	J P Morgan Chase & Co.	1,115	$274K	0.0%	—	—	COM	46625h100
IFF	International Flavors & Fragra	3,464	$269K	0.0%	—	—	COM	459506101
DAL	Delta Airlines - New	6,125	$267K	0.0%	—	—	COM	247361702
—	Celsius Holdings, Inc.	7,475	$266K	0.0%	—	—	COM	15118v207
GD	General Dynamics	952	$259K	0.0%	—	—	COM	369550108
ADBE	Adobe Systems Inc	644	$247K	0.0%	—	—	COM	00724F101
—	3M Company	1,679	$247K	0.0%	—	—	COM	88579y101
EFX	Equifax Inc.	1,000	$244K	0.0%	—	—	COM	294429105
TM	Toyota Motor Corp ADR	1,374	$243K	0.0%	—	—	FOR	892331307
KHC	The Kraft Heinz Company	7,853	$239K	0.0%	—	—	COM	500754106
CSX	CSX Corp	7,566	$223K	0.0%	—	—	COM	126408103
—	ManpowerGroup Inc.	3,832	$222K	0.0%	—	—	COM	56418h100
LH	Labcorp Holdings Inc.	950	$221K	0.0%	—	—	COM	504922105
NUE	Nucor Corp	1,814	$218K	0.0%	—	—	COM	670346105
WU	Western Union Company	20,475	$217K	0.0%	—	—	COM	959802109
—	Enbridge Inc.	4,788	$212K	0.0%	—	—	FOR	29250n105
DE	Deere & Co	450	$211K	0.0%	—	—	COM	244199105
LW	Lamb Weston Holdings	3,829	$204K	0.0%	—	—	COM	513272104
XMIOX	Pioneer Municipal High Income	17,208	$203K	0.0%	—	—	COM	723760104
—	Interpublic Group	7,442	$202K	0.0%	—	—	COM	460690100
SPGI	S&P Global Inc.	397	$202K	0.0%	—	—	COM	78409V104
—	Paramount Global B	16,359	$196K	0.0%	—	—	COM	92556h206
—	Hewlett Packard Enterprise Co.	12,387	$191K	0.0%	—	—	COM	42824c109
—	Rithm Capital Corp. REIT	11,000	$126K	0.0%	—	—	COM	64828t201
F	Ford Motor Co.- New	11,311	$113K	0.0%	—	—	COM	345370860
NOK	Nokia Corp Sponsored ADR	11,747	$61,907	0.0%	—	—	FOR	654902204