AUXIER ASSET MANAGEMENT LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WAT	Waters Corp.	2,401	$715	0.1%	$367.10	0.0%	COM	941848103
—	Wal-Mart de Mexico SA DE	16,828	$547	0.1%	$32.53	—	FOR	93114w107
—	Public Storage. Inc.	1,405	$381	0.1%	$270.88	—	COM	74460d109
UTI	Universal Technical Institute	10,000	$361	0.1%	$28.59	0.0%	COM	913915104
—	Vertiv Holdings Co.	1,190	$298	0.0%	$250.58	—	COM	92537n108
DLR	Digital Realty Trust	1,167	$210	0.0%	$155.03	0.0%	COM	253868103
—	DHI Group Inc.	10,000	$28	0.0%	$2.81	—	COM	23331s100

Increased Positions (24)

AIG American International Group 1.3%

Value ($000) $9,387 (-8.3%) Shares 124,740 (+4.2%) Est. Cost $54.15 Unrealized +41.0%

— Zimmer Biomet Holdings 0.9%

Value ($000) $6,231 (+10.8%) Shares 68,911 (+10.2%) Est. Cost $78.85 Unrealized —

BDX Becton Dickinson & Co 0.4%

Value ($000) $2,802 (-17.7%) Shares 17,819 (+1.6%) Est. Cost $113.71 Unrealized +47.6%

— Arcos Dorados Hldgs. 0.5%

Value ($000) $3,461 (+18.2%) Shares 419,547 (+5.2%) Est. Cost $6.12 Unrealized —

AMZN Amazon.com, Inc. 0.5%

Value ($000) $3,432 (-8.7%) Shares 16,477 (+1.2%) Est. Cost $190.10 Unrealized +19.3%

— The Mosaic Company 0.2%

Value ($000) $1,690 (+18.3%) Shares 66,264 (+11.8%) Est. Cost $25.11 Unrealized —

— Domino's Pizza Inc. 0.1%

Value ($000) $502 (+100.8%) Shares 1,400 (+133.3%) Est. Cost $349.45 Unrealized —

PFE Pfizer Inc. 0.2%

Value ($000) $1,734 (+14.3%) Shares 61,759 (+1.4%) Est. Cost $19.24 Unrealized +36.1%

FISV Fiserv Inc. 0.5%

Value ($000) $3,374 (+4.7%) Shares 60,465 (+26.1%) Est. Cost $92.96 Unrealized -31.2%

CSCO Cisco Sys Inc. 0.5%

Value ($000) $3,651 (+4.2%) Shares 47,050 (+3.4%) Est. Cost $26.81 Unrealized +190.6%

— Keurig Dr. Pepper Inc. 0.4%

Value ($000) $2,798 (+5.4%) Shares 106,256 (+12.1%) Est. Cost $29.11 Unrealized —

GEV GE Vernova Inc. 0.1%

Value ($000) $505 (+35.9%) Shares 579 (+1.8%) Est. Cost $421.52 Unrealized +74.8%

— Capital One Financial 0.0%

Value ($000) $296 (-23.1%) Shares 1,625 (+2.2%) Est. Cost $241.07 Unrealized —

PGR Progressive Corp 0.1%

Value ($000) $628 (-10.8%) Shares 3,167 (+2.4%) Est. Cost $223.71 Unrealized -7.6%

— Micron Technology Inc. 0.0%

Value ($000) $301 (+32.5%) Shares 890 (+11.9%) Est. Cost $291.01 Unrealized —

LLY Eli Lilly & Co 0.1%

Value ($000) $533 (-12.0%) Shares 579 (+2.8%) Est. Cost $269.52 Unrealized +288.5%

— Enbridge Inc. 0.0%

Value ($000) $258 (+18.9%) Shares 4,766 (+5.0%) Est. Cost $41.25 Unrealized —

GE GE Aerospace 0.1%

Value ($000) $592 (-6.4%) Shares 2,086 (+1.6%) Est. Cost $119.60 Unrealized +166.0%

— AON Plc 0.2%

Value ($000) $1,363 (-2.8%) Shares 4,222 (+6.3%) Est. Cost $245.48 Unrealized —

— Sally Beauty Holdings Inc. 0.2%

Value ($000) $1,235 (-1.8%) Shares 89,190 (+1.1%) Est. Cost $16.94 Unrealized —

SCHW Charles Schwab Corp 0.1%

Value ($000) $655 (-2.9%) Shares 6,968 (+3.2%) Est. Cost $65.67 Unrealized +52.5%

— J P Morgan Chase & Co. 0.0%

Value ($000) $298 (-4.2%) Shares 1,013 (+5.0%) Est. Cost $204.75 Unrealized —

USB US Bancorp Delaware New 0.1%

Value ($000) $820 (-1.5%) Shares 15,769 (+1.0%) Est. Cost $31.21 Unrealized +81.5%

— Nvidia Corp 0.1%

Value ($000) $545 (+1.2%) Shares 3,125 (+8.2%) Est. Cost $184.33 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AIG	American International Group	124,740 (+4.2%)	$9,387 (-8.3%)	1.3%	$54.15	+41.0%	COM	026874784
—	Zimmer Biomet Holdings	68,911 (+10.2%)	$6,231 (+10.8%)	0.9%	$78.85	—	COM	98956p102
BDX	Becton Dickinson & Co	17,819 (+1.6%)	$2,802 (-17.7%)	0.4%	$113.71	+47.6%	COM	075887109
—	Arcos Dorados Hldgs.	419,547 (+5.2%)	$3,461 (+18.2%)	0.5%	$6.12	—	FOR	g0457f107
AMZN	Amazon.com, Inc.	16,477 (+1.2%)	$3,432 (-8.7%)	0.5%	$190.10	+19.3%	COM	023135106
—	The Mosaic Company	66,264 (+11.8%)	$1,690 (+18.3%)	0.2%	$25.11	—	COM	61945c103
—	Domino's Pizza Inc.	1,400 (+133.3%)	$502 (+100.8%)	0.1%	$349.45	—	COM	25754a201
PFE	Pfizer Inc.	61,759 (+1.4%)	$1,734 (+14.3%)	0.2%	$19.24	+36.1%	COM	717081103
FISV	Fiserv Inc.	60,465 (+26.1%)	$3,374 (+4.7%)	0.5%	$92.96	-31.2%	COM	337738108
CSCO	Cisco Sys Inc.	47,050 (+3.4%)	$3,651 (+4.2%)	0.5%	$26.81	+190.6%	COM	17275R102
—	Keurig Dr. Pepper Inc.	106,256 (+12.1%)	$2,798 (+5.4%)	0.4%	$29.11	—	COM	49271v100
GEV	GE Vernova Inc.	579 (+1.8%)	$505 (+35.9%)	0.1%	$421.52	+74.8%	COM	36828A101
—	Capital One Financial	1,625 (+2.2%)	$296 (-23.1%)	0.0%	$241.07	—	COM	14040h105
PGR	Progressive Corp	3,167 (+2.4%)	$628 (-10.8%)	0.1%	$223.71	-7.6%	COM	743315103
—	Micron Technology Inc.	890 (+11.9%)	$301 (+32.5%)	0.0%	$291.01	—	COM	595112AB9
LLY	Eli Lilly & Co	579 (+2.8%)	$533 (-12.0%)	0.1%	$269.52	+288.5%	COM	532457108
—	Enbridge Inc.	4,766 (+5.0%)	$258 (+18.9%)	0.0%	$41.25	—	FOR	29250n105
GE	GE Aerospace	2,086 (+1.6%)	$592 (-6.4%)	0.1%	$119.60	+166.0%	COM	369604301
—	AON Plc	4,222 (+6.3%)	$1,363 (-2.8%)	0.2%	$245.48	—	FOR	g0403h108
—	Sally Beauty Holdings Inc.	89,190 (+1.1%)	$1,235 (-1.8%)	0.2%	$16.94	—	COM	79546e104
SCHW	Charles Schwab Corp	6,968 (+3.2%)	$655 (-2.9%)	0.1%	$65.67	+52.5%	COM	808513105
—	J P Morgan Chase & Co.	1,013 (+5.0%)	$298 (-4.2%)	0.0%	$204.75	—	COM	46625h100
USB	US Bancorp Delaware New	15,769 (+1.0%)	$820 (-1.5%)	0.1%	$31.21	+81.5%	COM	902973304
—	Nvidia Corp	3,125 (+8.2%)	$545 (+1.2%)	0.1%	$184.33	—	COM	67066g104

Exited Positions (8)

ADBE Adobe Systems Inc 0.0%

Value ($000) $223 Shares 636 Est. Cost $319.83 Unrealized -9.4%

FOXA Fox Corporation Class A 0.0%

Value ($000) $222 Shares 3,041 Est. Cost $65.34 Unrealized +2.8%

EFX Equifax Inc. 0.0%

Value ($000) $217 Shares 1,000 Est. Cost $199.85 Unrealized +2.2%

— 3M Company 0.0%

Value ($000) $213 Shares 1,330 Est. Cost $136.70 Unrealized —

— Builders FirstSource Inc. 0.0%

Value ($000) $206 Shares 2,000 Est. Cost $102.89 Unrealized —

HPQ HP Inc. 0.0%

Value ($000) $205 Shares 9,210 Est. Cost $11.61 Unrealized +70.3%

— Zoetis Inc 0.0%

Value ($000) $201 Shares 1,600 Est. Cost $125.82 Unrealized —

OMC Omnicom Group Inc. 0.0%

Value ($000) $200 Shares 2,480 Est. Cost $75.76 Unrealized +1.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ADBE	Adobe Systems Inc	636	$223	0.0%	$319.83	-9.4%	—	00724F101
FOXA	Fox Corporation Class A	3,041	$222	0.0%	$65.34	+2.8%	—	35137L105
EFX	Equifax Inc.	1,000	$217	0.0%	$199.85	+2.2%	—	294429105
—	3M Company	1,330	$213	0.0%	$136.70	—	—	88579y101
—	Builders FirstSource Inc.	2,000	$206	0.0%	$102.89	—	—	12008r107
HPQ	HP Inc.	9,210	$205	0.0%	$11.61	+70.3%	—	40434L105
—	Zoetis Inc	1,600	$201	0.0%	$125.82	—	—	98978v103
OMC	Omnicom Group Inc.	2,480	$200	0.0%	$75.76	+1.0%	—	681919106

Decreased Positions (34)

MSFT Microsoft Corp. 4.5%

Value ($000) $31,439 (-33.8%) Shares 84,932 (-13.5%) Est. Cost $26.70 Unrealized +1527.5%

— Mastercard Inc. 2.0%

Value ($000) $14,251 (-23.2%) Shares 28,521 (-12.3%) Est. Cost $124.81 Unrealized —

BK Bank of New York Mellon Corp 2.8%

Value ($000) $19,413 (-14.1%) Shares 163,641 (-15.9%) Est. Cost $21.22 Unrealized +466.2%

— Visa, Inc. 1.5%

Value ($000) $10,545 (-22.7%) Shares 34,888 (-10.3%) Est. Cost $94.87 Unrealized —

LINC Lincoln Educational 1.3%

Value ($000) $8,803 (+54.1%) Shares 216,406 (-8.5%) Est. Cost $5.40 Unrealized +407.8%

KR Kroger Co. 3.5%

Value ($000) $24,612 (+10.4%) Shares 340,137 (-4.7%) Est. Cost $22.12 Unrealized +192.1%

WMT Wal Mart Stores 2.4%

Value ($000) $16,990 (+10.3%) Shares 136,706 (-1.2%) Est. Cost $43.97 Unrealized +177.5%

AAPL Apple, Inc. 1.0%

Value ($000) $6,877 (-12.2%) Shares 27,096 (-5.9%) Est. Cost $98.35 Unrealized +167.2%

CTSH Cognizant Technology Solutions 0.3%

Value ($000) $1,886 (-32.2%) Shares 30,743 (-8.3%) Est. Cost $51.12 Unrealized +50.2%

HSY Hershey Company 0.2%

Value ($000) $1,592 (-35.0%) Shares 7,660 (-43.1%) Est. Cost $177.33 Unrealized +15.5%

CI The Cigna Group 0.7%

Value ($000) $4,647 (-13.7%) Shares 17,421 (-11.0%) Est. Cost $193.86 Unrealized +44.8%

HRB H&R Block Inc. 0.2%

Value ($000) $1,372 (-30.5%) Shares 43,212 (-4.6%) Est. Cost $18.22 Unrealized +103.8%

XOM Exxon Mobil Corp 0.3%

Value ($000) $2,029 (+37.7%) Shares 11,961 (-2.3%) Est. Cost $55.22 Unrealized +151.2%

DGX Quest Diagnostics Inc. 0.7%

Value ($000) $4,988 (+10.9%) Shares 25,451 (-1.8%) Est. Cost $80.65 Unrealized +136.3%

WAFD Washington Federal 0.4%

Value ($000) $2,449 (-13.3%) Shares 77,992 (-11.6%) Est. Cost $29.89 Unrealized +8.9%

CAT Caterpillar Inc. 0.3%

Value ($000) $2,091 (+20.4%) Shares 2,951 (-2.6%) Est. Cost $120.29 Unrealized +468.9%

ADP Automatic Data Processing 0.2%

Value ($000) $1,222 (-22.3%) Shares 6,016 (-1.6%) Est. Cost $49.26 Unrealized +388.9%

BA Boeing Company 0.4%

Value ($000) $2,706 (-9.3%) Shares 13,595 (-1.0%) Est. Cost $135.04 Unrealized +76.6%

DIS The Walt Disney Co. 0.2%

Value ($000) $1,360 (-16.4%) Shares 14,114 (-1.3%) Est. Cost $91.32 Unrealized +19.9%

LMT Lockheed Martin Corp 0.1%

Value ($000) $762 (+23.0%) Shares 1,260 (-1.6%) Est. Cost $320.77 Unrealized +87.3%

INTC Intel Corp. 0.1%

Value ($000) $893 (+17.7%) Shares 20,234 (-1.6%) Est. Cost $38.86 Unrealized +19.5%

GILD Gilead Sciences Inc. 0.2%

Value ($000) $1,201 (+11.3%) Shares 8,616 (-2.0%) Est. Cost $57.38 Unrealized +141.2%

— Costco Wholesale Corp 0.9%

Value ($000) $6,350 (-1.8%) Shares 6,373 (-15.0%) Est. Cost $165.36 Unrealized —

ALK Alaska Air Group Inc. 0.0%

Value ($000) $278 (-28.8%) Shares 7,555 (-2.6%) Est. Cost $62.65 Unrealized -16.2%

— Paramount Skydance Corp Class 0.0%

Value ($000) $144 (-36.2%) Shares 15,915 (-5.2%) Est. Cost $18.92 Unrealized —

ANDE Andersons Inc. 0.0%

Value ($000) $268 (+32.3%) Shares 3,727 (-2.0%) Est. Cost $48.74 Unrealized +26.2%

— AT & T, Inc. New 0.1%

Value ($000) $539 (+13.1%) Shares 18,584 (-3.1%) Est. Cost $34.21 Unrealized —

FORR Forrester Research Inc. 0.0%

Value ($000) $74 (-34.3%) Shares 13,076 (-5.8%) Est. Cost $26.26 Unrealized -72.2%

ITW Illinois Tool Works Inc. 0.0%

Value ($000) $243 (-10.2%) Shares 934 (-15.0%) Est. Cost $197.94 Unrealized +38.0%

AGCO AGCO Corp 0.1%

Value ($000) $380 (+7.8%) Shares 3,276 (-3.0%) Est. Cost $41.52 Unrealized +191.7%

KLAC KLA Corporation 0.1%

Value ($000) $1,031 (+1.6%) Shares 700 (-16.2%) Est. Cost $292.61 Unrealized +399.7%

— Hewlett Packard Enterprise Co. 0.0%

Value ($000) $237 (-4.2%) Shares 9,959 (-3.4%) Est. Cost $15.46 Unrealized —

NUE Nucor Corp 0.0%

Value ($000) $294 (-0.5%) Shares 1,741 (-4.0%) Est. Cost $56.08 Unrealized +218.2%

LH Labcorp Holdings Inc. 0.0%

Value ($000) $237 (-0.4%) Shares 890 (-6.3%) Est. Cost $216.29 Unrealized +25.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MSFT	Microsoft Corp.	84,932 (-13.5%)	$31,439 (-33.8%)	4.5%	$26.70	+1527.5%	COM	594918104
—	Mastercard Inc.	28,521 (-12.3%)	$14,251 (-23.2%)	2.0%	$124.81	—	COM	57636q104
BK	Bank of New York Mellon Corp	163,641 (-15.9%)	$19,413 (-14.1%)	2.8%	$21.22	+466.2%	COM	064058100
—	Visa, Inc.	34,888 (-10.3%)	$10,545 (-22.7%)	1.5%	$94.87	—	COM	92826c839
LINC	Lincoln Educational	216,406 (-8.5%)	$8,803 (+54.1%)	1.3%	$5.40	+407.8%	COM	533535100
KR	Kroger Co.	340,137 (-4.7%)	$24,612 (+10.4%)	3.5%	$22.12	+192.1%	COM	501044101
WMT	Wal Mart Stores	136,706 (-1.2%)	$16,990 (+10.3%)	2.4%	$43.97	+177.5%	COM	931142103
AAPL	Apple, Inc.	27,096 (-5.9%)	$6,877 (-12.2%)	1.0%	$98.35	+167.2%	COM	037833100
CTSH	Cognizant Technology Solutions	30,743 (-8.3%)	$1,886 (-32.2%)	0.3%	$51.12	+50.2%	COM	192446102
HSY	Hershey Company	7,660 (-43.1%)	$1,592 (-35.0%)	0.2%	$177.33	+15.5%	COM	427866108
CI	The Cigna Group	17,421 (-11.0%)	$4,647 (-13.7%)	0.7%	$193.86	+44.8%	COM	125523100
HRB	H&R Block Inc.	43,212 (-4.6%)	$1,372 (-30.5%)	0.2%	$18.22	+103.8%	COM	093671105
XOM	Exxon Mobil Corp	11,961 (-2.3%)	$2,029 (+37.7%)	0.3%	$55.22	+151.2%	COM	30231G102
DGX	Quest Diagnostics Inc.	25,451 (-1.8%)	$4,988 (+10.9%)	0.7%	$80.65	+136.3%	COM	74834L100
WAFD	Washington Federal	77,992 (-11.6%)	$2,449 (-13.3%)	0.4%	$29.89	+8.9%	COM	938824109
CAT	Caterpillar Inc.	2,951 (-2.6%)	$2,091 (+20.4%)	0.3%	$120.29	+468.9%	COM	149123101
ADP	Automatic Data Processing	6,016 (-1.6%)	$1,222 (-22.3%)	0.2%	$49.26	+388.9%	COM	053015103
BA	Boeing Company	13,595 (-1.0%)	$2,706 (-9.3%)	0.4%	$135.04	+76.6%	COM	097023105
DIS	The Walt Disney Co.	14,114 (-1.3%)	$1,360 (-16.4%)	0.2%	$91.32	+19.9%	COM	254687106
LMT	Lockheed Martin Corp	1,260 (-1.6%)	$762 (+23.0%)	0.1%	$320.77	+87.3%	COM	539830109
INTC	Intel Corp.	20,234 (-1.6%)	$893 (+17.7%)	0.1%	$38.86	+19.5%	COM	458140100
GILD	Gilead Sciences Inc.	8,616 (-2.0%)	$1,201 (+11.3%)	0.2%	$57.38	+141.2%	COM	375558103
—	Costco Wholesale Corp	6,373 (-15.0%)	$6,350 (-1.8%)	0.9%	$165.36	—	COM	22160k105
ALK	Alaska Air Group Inc.	7,555 (-2.6%)	$278 (-28.8%)	0.0%	$62.65	-16.2%	COM	011659109
—	Paramount Skydance Corp Class	15,915 (-5.2%)	$144 (-36.2%)	0.0%	$18.92	—	COM	69932a204
ANDE	Andersons Inc.	3,727 (-2.0%)	$268 (+32.3%)	0.0%	$48.74	+26.2%	COM	034164103
—	AT & T, Inc. New	18,584 (-3.1%)	$539 (+13.1%)	0.1%	$34.21	—	COM	00206r102
FORR	Forrester Research Inc.	13,076 (-5.8%)	$74 (-34.3%)	0.0%	$26.26	-72.2%	COM	346563109
ITW	Illinois Tool Works Inc.	934 (-15.0%)	$243 (-10.2%)	0.0%	$197.94	+38.0%	COM	452308109
AGCO	AGCO Corp	3,276 (-3.0%)	$380 (+7.8%)	0.1%	$41.52	+191.7%	COM	001084102
KLAC	KLA Corporation	700 (-16.2%)	$1,031 (+1.6%)	0.1%	$292.61	+399.7%	COM	482480100
—	Hewlett Packard Enterprise Co.	9,959 (-3.4%)	$237 (-4.2%)	0.0%	$15.46	—	COM	42824c109
NUE	Nucor Corp	1,741 (-4.0%)	$294 (-0.5%)	0.0%	$56.08	+218.2%	COM	670346105
LH	Labcorp Holdings Inc.	890 (-6.3%)	$237 (-0.4%)	0.0%	$216.29	+25.3%	COM	504922105

Unchanged Positions (111)

GLW Corning Inc 2.5%

Value ($000) $17,225 Shares 126,681 Est. Cost $10.49 Unrealized +965.1%

— Valero Energy Corp. 1.8%

Value ($000) $12,839 Shares 51,962 Est. Cost $34.97 Unrealized —

— UnitedHealth Group Inc. 2.5%

Value ($000) $17,301 Shares 63,937 Est. Cost $68.77 Unrealized —

JNJ Johnson & Johnson 2.5%

Value ($000) $17,283 Shares 70,703 Est. Cost $63.96 Unrealized +256.3%

BKNG Booking Holdings Inc. 1.3%

Value ($000) $8,989 Shares 2,135 Est. Cost $1766.98 Unrealized +170.6%

— Alphabet, Inc Voting Class 3.7%

Value ($000) $25,717 Shares 89,432 Est. Cost $148.01 Unrealized —

— LyondellBasell Industries N.V. 0.7%

Value ($000) $4,764 Shares 59,140 Est. Cost $76.36 Unrealized —

ELV Elevance Health Inc. 1.5%

Value ($000) $10,646 Shares 36,367 Est. Cost $118.58 Unrealized +196.5%

BP BP p.l.c. 1.2%

Value ($000) $8,317 Shares 176,962 Est. Cost $41.74 Unrealized —

BAC Bank of America Corp 2.2%

Value ($000) $15,115 Shares 310,053 Est. Cost $11.12 Unrealized +382.7%

— Merck & Co.Inc. New 2.0%

Value ($000) $14,103 Shares 117,242 Est. Cost $48.49 Unrealized —

ABT Abbott Laboratories 1.0%

Value ($000) $6,821 Shares 66,433 Est. Cost $33.37 Unrealized +245.8%

CVX Chevron Corp. 0.8%

Value ($000) $5,351 Shares 25,863 Est. Cost $83.35 Unrealized +106.2%

— Meta Platforms, Inc. 1.3%

Value ($000) $8,818 Shares 15,412 Est. Cost $223.10 Unrealized —

— Medtronic PLC 1.7%

Value ($000) $11,999 Shares 138,479 Est. Cost $80.85 Unrealized —

— Altria Group Inc. 1.4%

Value ($000) $9,604 Shares 145,533 Est. Cost $36.36 Unrealized —

— ConocoPhillips 0.5%

Value ($000) $3,756 Shares 28,451 Est. Cost $60.36 Unrealized —

CTVA Corteva, Inc. 0.6%

Value ($000) $4,435 Shares 52,986 Est. Cost $26.51 Unrealized +174.5%

PSX Phillips 66 0.4%

Value ($000) $3,030 Shares 16,633 Est. Cost $43.89 Unrealized +235.2%

PEP Pepsico Inc. 1.7%

Value ($000) $12,185 Shares 78,464 Est. Cost $57.34 Unrealized +169.9%

UL Unilever PLC ADR 0.8%

Value ($000) $5,588 Shares 98,086 Est. Cost $65.40 Unrealized —

PM Philip Morris International 4.9%

Value ($000) $34,002 Shares 205,647 Est. Cost $53.25 Unrealized +230.4%

CVS CVS Health Corp. 1.0%

Value ($000) $7,196 Shares 100,195 Est. Cost $52.58 Unrealized +48.3%

PAYX Paychex Inc. 0.5%

Value ($000) $3,491 Shares 37,893 Est. Cost $25.02 Unrealized +307.6%

— Qnity Electronics Inc. 0.4%

Value ($000) $2,669 Shares 23,134 Est. Cost $81.65 Unrealized —

CE Celanese Corp 0.3%

Value ($000) $1,745 Shares 26,533 Est. Cost $54.73 Unrealized -9.5%

ORCL Oracle Corp 0.3%

Value ($000) $1,744 Shares 11,852 Est. Cost $29.49 Unrealized +475.2%

FDX Fedex Corp 0.4%

Value ($000) $3,028 Shares 8,501 Est. Cost $205.26 Unrealized +65.1%

KO Coca-Cola Company 1.0%

Value ($000) $6,713 Shares 88,272 Est. Cost $28.55 Unrealized +161.9%

BRK/B Berkshire Hathaway Inc. Class 1.6%

Value ($000) $11,218 Shares 23,409 Est. Cost $149.52 Unrealized +230.0%

BTI British American Tobacco 1.9%

Value ($000) $12,907 Shares 220,744 Est. Cost $45.04 Unrealized —

AXP American Express Co. 0.3%

Value ($000) $1,954 Shares 6,461 Est. Cost $64.14 Unrealized +455.3%

MRSH Marsh 0.8%

Value ($000) $5,701 Shares 32,870 Est. Cost $37.46 Unrealized +384.2%

— Molson Coors Brewing Co 0.7%

Value ($000) $4,539 Shares 105,416 Est. Cost $49.30 Unrealized —

WFC Wells Fargo & Co. 0.4%

Value ($000) $2,453 Shares 30,815 Est. Cost $42.19 Unrealized +113.4%

— AbbVie, Inc. 1.0%

Value ($000) $6,754 Shares 31,054 Est. Cost $72.08 Unrealized —

DOW Dow Inc. 0.1%

Value ($000) $828 Shares 19,883 Est. Cost $36.30 Unrealized -20.0%

— America Movil ADR 0.3%

Value ($000) $1,918 Shares 75,280 Est. Cost $21.05 Unrealized —

HD Home Depot Inc. 1.1%

Value ($000) $7,700 Shares 23,412 Est. Cost $56.05 Unrealized +572.6%

— RTX Corp. 0.9%

Value ($000) $6,605 Shares 34,238 Est. Cost $64.74 Unrealized —

SHEL Shell PLC 0.2%

Value ($000) $1,505 Shares 16,188 Est. Cost $55.41 Unrealized —

— Monster Beverage Corp. 0.7%

Value ($000) $5,188 Shares 71,600 Est. Cost $58.55 Unrealized —

— Unum Group 0.6%

Value ($000) $4,076 Shares 55,814 Est. Cost $32.51 Unrealized —

VZ Verizon Communications 0.2%

Value ($000) $1,549 Shares 30,847 Est. Cost $28.29 Unrealized +54.9%

— FTAI Aviation Ltd. 0.2%

Value ($000) $1,470 Shares 6,000 Est. Cost $111.03 Unrealized —

CIGI Colliers International Group 0.1%

Value ($000) $765 Shares 7,160 Est. Cost $52.10 Unrealized +157.8%

— DuPont de Nemours, Inc 0.3%

Value ($000) $2,097 Shares 45,782 Est. Cost $75.02 Unrealized —

— Ameriprise Financial Inc. 0.3%

Value ($000) $2,217 Shares 4,988 Est. Cost $147.75 Unrealized —

C Citigroup Inc. 1.1%

Value ($000) $7,872 Shares 69,416 Est. Cost $36.09 Unrealized +221.9%

— General Motors Company 0.3%

Value ($000) $2,300 Shares 30,879 Est. Cost $33.14 Unrealized —

CAE CAE Inc. 0.2%

Value ($000) $1,337 Shares 51,330 Est. Cost $17.74 Unrealized +79.3%

AMGN Amgen Inc. 0.5%

Value ($000) $3,135 Shares 8,910 Est. Cost $172.39 Unrealized +102.8%

— Gates Industrial Corporation P 0.5%

Value ($000) $3,735 Shares 165,211 Est. Cost $13.90 Unrealized —

LOW Lowes Companies 1.4%

Value ($000) $9,691 Shares 41,015 Est. Cost $71.39 Unrealized +280.3%

— Alibaba Group Holding Limited 0.2%

Value ($000) $1,226 Shares 9,769 Est. Cost $225.05 Unrealized —

— Alphabet, Inc Non-Voting Class 0.3%

Value ($000) $1,954 Shares 6,810 Est. Cost $145.05 Unrealized —

TSM Taiwan Semiconductor Manufactu 0.3%

Value ($000) $1,888 Shares 5,587 Est. Cost $39.84 Unrealized —

— ASML Holding N.V. 0.1%

Value ($000) $935 Shares 708 Est. Cost $840.59 Unrealized —

GSK Glaxo SmithKline ADS 0.2%

Value ($000) $1,519 Shares 27,532 Est. Cost $29.56 Unrealized —

— Trane Technologies PLC 0.4%

Value ($000) $2,509 Shares 6,020 Est. Cost $82.60 Unrealized —

NKE Nike Inc Class B 0.1%

Value ($000) $733 Shares 13,876 Est. Cost $44.70 Unrealized +43.1%

— Diageo PLC ADR 0.1%

Value ($000) $864 Shares 11,600 Est. Cost $118.36 Unrealized —

BMY Bristol Myers Squibb Co. 0.2%

Value ($000) $1,325 Shares 21,851 Est. Cost $46.44 Unrealized +23.7%

OXY Occidental Petroleum Corp 0.1%

Value ($000) $382 Shares 5,879 Est. Cost $59.56 Unrealized -23.7%

QCOM Qualcomm Inc 0.1%

Value ($000) $390 Shares 3,032 Est. Cost $63.78 Unrealized +141.3%

GPC Genuine Parts Co 0.1%

Value ($000) $776 Shares 7,340 Est. Cost $145.05 Unrealized -8.0%

— DR Horton, Inc 0.3%

Value ($000) $2,360 Shares 17,200 Est. Cost $44.62 Unrealized —

— FirstService Corp Voting Share 0.1%

Value ($000) $955 Shares 6,873 Est. Cost $154.09 Unrealized —

AMAT Applied Materials Inc Delaware 0.1%

Value ($000) $439 Shares 1,283 Est. Cost $157.45 Unrealized +107.4%

MDLZ Mondelez International, Inc. 0.3%

Value ($000) $1,761 Shares 30,552 Est. Cost $23.55 Unrealized +147.0%

WBD Warner Bros. Discovery, Inc. 0.3%

Value ($000) $1,926 Shares 70,141 Est. Cost $18.34 Unrealized +53.9%

— Devon Energy Corp. 0.1%

Value ($000) $370 Shares 7,350 Est. Cost $37.40 Unrealized —

— Comcast Corp Cl A 0.3%

Value ($000) $2,319 Shares 80,785 Est. Cost $39.92 Unrealized —

AFL AFLAC Inc. 1.8%

Value ($000) $12,614 Shares 114,978 Est. Cost $27.90 Unrealized +298.6%

UNP Union Pacific Corp 0.2%

Value ($000) $1,709 Shares 7,044 Est. Cost $65.85 Unrealized +269.5%

TPR Tapestry Inc. 0.1%

Value ($000) $839 Shares 5,945 Est. Cost $22.37 Unrealized +524.1%

CPF Central Pacific Financial Corp 0.4%

Value ($000) $2,668 Shares 83,480 Est. Cost $11.30 Unrealized +189.7%

SBUX Starbucks Corp 0.2%

Value ($000) $1,092 Shares 12,184 Est. Cost $44.01 Unrealized +112.7%

— Biogen Inc. 0.2%

Value ($000) $1,626 Shares 8,869 Est. Cost $276.68 Unrealized —

— Alkermes PLC 0.0%

Value ($000) $271 Shares 7,652 Est. Cost $29.17 Unrealized —

MCD McDonalds Corp 0.4%

Value ($000) $2,958 Shares 9,517 Est. Cost $77.78 Unrealized +307.9%

— Grand Canyon Education, Inc. 0.4%

Value ($000) $2,450 Shares 14,410 Est. Cost $86.17 Unrealized —

— Allegion PLC 0.1%

Value ($000) $494 Shares 3,401 Est. Cost $79.56 Unrealized —

YUM Yum! Brands, Inc. 0.2%

Value ($000) $1,685 Shares 10,836 Est. Cost $38.97 Unrealized +303.8%

— Johnson Controls Intl. PLC 0.1%

Value ($000) $514 Shares 3,922 Est. Cost $54.57 Unrealized —

TELFY Telefonica S.A. ADR 0.1%

Value ($000) $655 Shares 150,998 Est. Cost $11.36 Unrealized —

CSX CSX Corp 0.0%

Value ($000) $311 Shares 7,566 Est. Cost $29.58 Unrealized +30.2%

PH Parker-Hannifin Corp. 0.3%

Value ($000) $1,985 Shares 2,217 Est. Cost $223.76 Unrealized +328.0%

CAG ConAgra Foods Inc. 0.0%

Value ($000) $304 Shares 19,351 Est. Cost $16.35 Unrealized +10.2%

BEN Franklin Resources Inc. 0.2%

Value ($000) $1,190 Shares 50,387 Est. Cost $29.18 Unrealized -9.7%

DECK Deckers Outdoor Corp 0.1%

Value ($000) $687 Shares 6,862 Est. Cost $98.36 Unrealized +11.4%

— The Travelers Companies Inc. 1.7%

Value ($000) $11,858 Shares 40,655 Est. Cost $81.10 Unrealized —

— Magnum Ice Cream Company NV 0.0%

Value ($000) $330 Shares 22,086 Est. Cost $15.85 Unrealized —

UPS United Parcel Service Inc. 0.2%

Value ($000) $1,490 Shares 15,150 Est. Cost $73.04 Unrealized +50.4%

DAL Delta Airlines - New 0.1%

Value ($000) $369 Shares 5,547 Est. Cost $32.72 Unrealized +113.5%

NOK Nokia Corp Sponsored ADR 0.0%

Value ($000) $81 Shares 10,107 Est. Cost $3.58 Unrealized —

— Rithm Capital Corp. REIT 0.0%

Value ($000) $104 Shares 11,000 Est. Cost $11.45 Unrealized —

WM Waste Management Inc. Del 0.0%

Value ($000) $340 Shares 1,480 Est. Cost $101.34 Unrealized +123.1%

— Tenet Healthcare Corp. 0.0%

Value ($000) $236 Shares 1,250 Est. Cost $198.72 Unrealized —

— Ferguson Enterprises 0.0%

Value ($000) $245 Shares 1,050 Est. Cost $217.75 Unrealized —

— Yum China Holdings, Inc. 0.1%

Value ($000) $475 Shares 9,729 Est. Cost $26.61 Unrealized —

TM Toyota Motor Corp ADR 0.0%

Value ($000) $257 Shares 1,249 Est. Cost $123.95 Unrealized —

WY Weyerhaeuser Co. 0.1%

Value ($000) $373 Shares 15,284 Est. Cost $20.70 Unrealized +15.0%

WU Western Union Company 0.0%

Value ($000) $130 Shares 14,851 Est. Cost $17.07 Unrealized —

PG Procter & Gamble Co. 0.4%

Value ($000) $2,577 Shares 17,840 Est. Cost $55.24 Unrealized +174.7%

— Arch Capital Group Ltd 0.2%

Value ($000) $1,239 Shares 12,905 Est. Cost $89.68 Unrealized —

GD General Dynamics 0.0%

Value ($000) $327 Shares 952 Est. Cost $206.00 Unrealized +72.1%

HLN Haleon PLC 0.1%

Value ($000) $369 Shares 36,876 Est. Cost $6.13 Unrealized —

— Ingersoll Rand Inc. 0.1%

Value ($000) $440 Shares 5,490 Est. Cost $24.77 Unrealized —

— Principal Financial Group 0.0%

Value ($000) $209 Shares 2,322 Est. Cost $88.21 Unrealized —

— Kenvue Inc. 0.1%

Value ($000) $411 Shares 23,828 Est. Cost $20.32 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GLW	Corning Inc	126,681	$17,225	2.5%	$10.49	+965.1%	COM	219350105
—	Valero Energy Corp.	51,962	$12,839	1.8%	$34.97	—	COM	91913y100
—	UnitedHealth Group Inc.	63,937	$17,301	2.5%	$68.77	—	COM	91324p102
JNJ	Johnson & Johnson	70,703	$17,283	2.5%	$63.96	+256.3%	COM	478160104
BKNG	Booking Holdings Inc.	2,135	$8,989	1.3%	$1766.98	+170.6%	COM	09857L108
—	Alphabet, Inc Voting Class	89,432	$25,717	3.7%	$148.01	—	COM	02079k305
—	LyondellBasell Industries N.V.	59,140	$4,764	0.7%	$76.36	—	FOR	n53745100
ELV	Elevance Health Inc.	36,367	$10,646	1.5%	$118.58	+196.5%	COM	036752103
BP	BP p.l.c.	176,962	$8,317	1.2%	$41.74	—	FOR	055622104
BAC	Bank of America Corp	310,053	$15,115	2.2%	$11.12	+382.7%	COM	060505104
—	Merck & Co.Inc. New	117,242	$14,103	2.0%	$48.49	—	COM	58933y105
ABT	Abbott Laboratories	66,433	$6,821	1.0%	$33.37	+245.8%	COM	002824100
CVX	Chevron Corp.	25,863	$5,351	0.8%	$83.35	+106.2%	COM	166764100
—	Meta Platforms, Inc.	15,412	$8,818	1.3%	$223.10	—	COM	30303m102
—	Medtronic PLC	138,479	$11,999	1.7%	$80.85	—	FOR	g5960L103
—	Altria Group Inc.	145,533	$9,604	1.4%	$36.36	—	COM	02209s103
—	ConocoPhillips	28,451	$3,756	0.5%	$60.36	—	COM	20825c104
CTVA	Corteva, Inc.	52,986	$4,435	0.6%	$26.51	+174.5%	COM	22052L104
PSX	Phillips 66	16,633	$3,030	0.4%	$43.89	+235.2%	COM	718546104
PEP	Pepsico Inc.	78,464	$12,185	1.7%	$57.34	+169.9%	COM	713448108
UL	Unilever PLC ADR	98,086	$5,588	0.8%	$65.40	—	FOR	904767803
PM	Philip Morris International	205,647	$34,002	4.9%	$53.25	+230.4%	COM	718172109
CVS	CVS Health Corp.	100,195	$7,196	1.0%	$52.58	+48.3%	COM	126650100
PAYX	Paychex Inc.	37,893	$3,491	0.5%	$25.02	+307.6%	COM	704326107
—	Qnity Electronics Inc.	23,134	$2,669	0.4%	$81.65	—	COM	74743l100
CE	Celanese Corp	26,533	$1,745	0.3%	$54.73	-9.5%	COM	150870103
ORCL	Oracle Corp	11,852	$1,744	0.3%	$29.49	+475.2%	COM	68389X105
FDX	Fedex Corp	8,501	$3,028	0.4%	$205.26	+65.1%	COM	31428X106
KO	Coca-Cola Company	88,272	$6,713	1.0%	$28.55	+161.9%	COM	191216100
BRK/B	Berkshire Hathaway Inc. Class	23,409	$11,218	1.6%	$149.52	+230.0%	COM	084670702
BTI	British American Tobacco	220,744	$12,907	1.9%	$45.04	—	FOR	110448107
AXP	American Express Co.	6,461	$1,954	0.3%	$64.14	+455.3%	COM	025816109
MRSH	Marsh	32,870	$5,701	0.8%	$37.46	+384.2%	COM	571748102
—	Molson Coors Brewing Co	105,416	$4,539	0.7%	$49.30	—	COM	60871r209
WFC	Wells Fargo & Co.	30,815	$2,453	0.4%	$42.19	+113.4%	COM	949746101
—	AbbVie, Inc.	31,054	$6,754	1.0%	$72.08	—	COM	00287y109
DOW	Dow Inc.	19,883	$828	0.1%	$36.30	-20.0%	COM	260557103
—	America Movil ADR	75,280	$1,918	0.3%	$21.05	—	FOR	02390a101
HD	Home Depot Inc.	23,412	$7,700	1.1%	$56.05	+572.6%	COM	437076102
—	RTX Corp.	34,238	$6,605	0.9%	$64.74	—	COM	75513e101
SHEL	Shell PLC	16,188	$1,505	0.2%	$55.41	—	FOR	780259305
—	Monster Beverage Corp.	71,600	$5,188	0.7%	$58.55	—	COM	61174x109
—	Unum Group	55,814	$4,076	0.6%	$32.51	—	COM	91529y106
VZ	Verizon Communications	30,847	$1,549	0.2%	$28.29	+54.9%	COM	92343V104
—	FTAI Aviation Ltd.	6,000	$1,470	0.2%	$111.03	—	COM	G3730v105
CIGI	Colliers International Group	7,160	$765	0.1%	$52.10	+157.8%	FOR	194693107
—	DuPont de Nemours, Inc	45,782	$2,097	0.3%	$75.02	—	COM	26614n102
—	Ameriprise Financial Inc.	4,988	$2,217	0.3%	$147.75	—	COM	03076c106
C	Citigroup Inc.	69,416	$7,872	1.1%	$36.09	+221.9%	COM	172967424
—	General Motors Company	30,879	$2,300	0.3%	$33.14	—	COM	37045v100
CAE	CAE Inc.	51,330	$1,337	0.2%	$17.74	+79.3%	FOR	124765108
AMGN	Amgen Inc.	8,910	$3,135	0.5%	$172.39	+102.8%	COM	031162100
—	Gates Industrial Corporation P	165,211	$3,735	0.5%	$13.90	—	COM	g39108108
LOW	Lowes Companies	41,015	$9,691	1.4%	$71.39	+280.3%	COM	548661107
—	Alibaba Group Holding Limited	9,769	$1,226	0.2%	$225.05	—	FOR	01609w102
—	Alphabet, Inc Non-Voting Class	6,810	$1,954	0.3%	$145.05	—	COM	02079k107
TSM	Taiwan Semiconductor Manufactu	5,587	$1,888	0.3%	$39.84	—	FOR	874039100
—	ASML Holding N.V.	708	$935	0.1%	$840.59	—	FOR	n07059210
GSK	Glaxo SmithKline ADS	27,532	$1,519	0.2%	$29.56	—	FOR	37733W204
—	Trane Technologies PLC	6,020	$2,509	0.4%	$82.60	—	FOR	g8994e103
NKE	Nike Inc Class B	13,876	$733	0.1%	$44.70	+43.1%	COM	654106103
—	Diageo PLC ADR	11,600	$864	0.1%	$118.36	—	FOR	25243q205
BMY	Bristol Myers Squibb Co.	21,851	$1,325	0.2%	$46.44	+23.7%	COM	110122108
OXY	Occidental Petroleum Corp	5,879	$382	0.1%	$59.56	-23.7%	COM	674599105
QCOM	Qualcomm Inc	3,032	$390	0.1%	$63.78	+141.3%	COM	747525103
GPC	Genuine Parts Co	7,340	$776	0.1%	$145.05	-8.0%	COM	372460105
—	DR Horton, Inc	17,200	$2,360	0.3%	$44.62	—	COM	23331a109
—	FirstService Corp Voting Share	6,873	$955	0.1%	$154.09	—	FOR	33767e202
AMAT	Applied Materials Inc Delaware	1,283	$439	0.1%	$157.45	+107.4%	COM	038222105
MDLZ	Mondelez International, Inc.	30,552	$1,761	0.3%	$23.55	+147.0%	COM	609207105
WBD	Warner Bros. Discovery, Inc.	70,141	$1,926	0.3%	$18.34	+53.9%	COM	934423104
—	Devon Energy Corp.	7,350	$370	0.1%	$37.40	—	COM	25179m103
—	Comcast Corp Cl A	80,785	$2,319	0.3%	$39.92	—	COM	20030n101
AFL	AFLAC Inc.	114,978	$12,614	1.8%	$27.90	+298.6%	COM	001055102
UNP	Union Pacific Corp	7,044	$1,709	0.2%	$65.85	+269.5%	COM	907818108
TPR	Tapestry Inc.	5,945	$839	0.1%	$22.37	+524.1%	COM	876030107
CPF	Central Pacific Financial Corp	83,480	$2,668	0.4%	$11.30	+189.7%	COM	154760409
SBUX	Starbucks Corp	12,184	$1,092	0.2%	$44.01	+112.7%	COM	855244109
—	Biogen Inc.	8,869	$1,626	0.2%	$276.68	—	COM	09062x103
—	Alkermes PLC	7,652	$271	0.0%	$29.17	—	FOR	g01767105
MCD	McDonalds Corp	9,517	$2,958	0.4%	$77.78	+307.9%	COM	580135101
—	Grand Canyon Education, Inc.	14,410	$2,450	0.4%	$86.17	—	COM	38526m106
—	Allegion PLC	3,401	$494	0.1%	$79.56	—	FOR	g0176j109
YUM	Yum! Brands, Inc.	10,836	$1,685	0.2%	$38.97	+303.8%	COM	988498101
—	Johnson Controls Intl. PLC	3,922	$514	0.1%	$54.57	—	FOR	g51502105
TELFY	Telefonica S.A. ADR	150,998	$655	0.1%	$11.36	—	FOR	879382208
CSX	CSX Corp	7,566	$311	0.0%	$29.58	+30.2%	COM	126408103
PH	Parker-Hannifin Corp.	2,217	$1,985	0.3%	$223.76	+328.0%	COM	701094104
CAG	ConAgra Foods Inc.	19,351	$304	0.0%	$16.35	+10.2%	COM	205887102
BEN	Franklin Resources Inc.	50,387	$1,190	0.2%	$29.18	-9.7%	COM	354613101
DECK	Deckers Outdoor Corp	6,862	$687	0.1%	$98.36	+11.4%	COM	243537107
—	The Travelers Companies Inc.	40,655	$11,858	1.7%	$81.10	—	COM	89417e109
—	Magnum Ice Cream Company NV	22,086	$330	0.0%	$15.85	—	FOR	n5505d105
UPS	United Parcel Service Inc.	15,150	$1,490	0.2%	$73.04	+50.4%	COM	911312106
DAL	Delta Airlines - New	5,547	$369	0.1%	$32.72	+113.5%	COM	247361702
NOK	Nokia Corp Sponsored ADR	10,107	$81	0.0%	$3.58	—	FOR	654902204
—	Rithm Capital Corp. REIT	11,000	$104	0.0%	$11.45	—	COM	64828t201
WM	Waste Management Inc. Del	1,480	$340	0.0%	$101.34	+123.1%	COM	94106L109
—	Tenet Healthcare Corp.	1,250	$236	0.0%	$198.72	—	COM	88033g107
—	Ferguson Enterprises	1,050	$245	0.0%	$217.75	—	COM	31488v107
—	Yum China Holdings, Inc.	9,729	$475	0.1%	$26.61	—	FOR	98850p109
TM	Toyota Motor Corp ADR	1,249	$257	0.0%	$123.95	—	FOR	892331307
WY	Weyerhaeuser Co.	15,284	$373	0.1%	$20.70	+15.0%	COM	962166104
WU	Western Union Company	14,851	$130	0.0%	$17.07	—	COM	959802109
PG	Procter & Gamble Co.	17,840	$2,577	0.4%	$55.24	+174.7%	COM	742718109
—	Arch Capital Group Ltd	12,905	$1,239	0.2%	$89.68	—	FOR	g0450a105
GD	General Dynamics	952	$327	0.0%	$206.00	+72.1%	COM	369550108
HLN	Haleon PLC	36,876	$369	0.1%	$6.13	—	FOR	405552100
—	Ingersoll Rand Inc.	5,490	$440	0.1%	$24.77	—	COM	45687v106
—	Principal Financial Group	2,322	$209	0.0%	$88.21	—	COM	74251v102
—	Kenvue Inc.	23,828	$411	0.1%	$20.32	—	COM	49177j102