Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
PM	Philip Morris International	203,750	$36.86M	4.9%	—	—	COM	718172109
—	Alphabet, Inc Voting Class	88,504	$31.63M	4.2%	—	—	COM	02079k305
MSFT	Microsoft Corp.	83,928	$31.31M	4.2%	—	—	COM	594918104
GLW	Corning Inc	110,261	$28.16M	3.8%	—	—	COM	219350105
—	UnitedHealth Group Inc.	63,119	$26.23M	3.5%	—	—	COM	91324p102
BK	Bank of New York Mellon Corp	147,002	$21.26M	2.9%	—	—	COM	064058100
KR	Kroger Co.	340,972	$18.93M	2.5%	—	—	COM	501044101
JNJ	Johnson & Johnson	69,837	$17.74M	2.4%	—	—	COM	478160104
BAC	Bank of America Corp	295,568	$16.84M	2.3%	—	—	COM	060505104
WMT	Wal Mart Stores	134,439	$15.23M	2.0%	—	—	COM	931142103
—	Mastercard Inc.	29,266	$15.03M	2.0%	—	—	COM	57636q104
—	Merck & Co.Inc. New	115,776	$14.88M	2.0%	—	—	COM	58933y105
ELV	Elevance Health Inc.	35,687	$13.8M	1.9%	—	—	COM	036752103
BTI	British American Tobacco	220,447	$13.61M	1.8%	—	—	FOR	110448107
AFL	AFLAC Inc.	114,618	$13.44M	1.8%	—	—	COM	001055102
—	Valero Energy Corp.	51,483	$13.41M	1.8%	—	—	COM	91913y100
—	The Travelers Companies Inc.	39,601	$13.07M	1.8%	—	—	COM	89417e109
—	Visa, Inc.	34,487	$11.83M	1.6%	—	—	COM	92826c839
BRK/B	Berkshire Hathaway Inc. Class	23,200	$11.61M	1.6%	—	—	COM	084670702
—	Medtronic PLC	142,037	$11.11M	1.5%	—	—	FOR	g5960L103
PEP	Pepsico Inc.	77,533	$10.5M	1.4%	—	—	COM	713448108
—	Altria Group Inc.	145,362	$10.46M	1.4%	—	—	COM	02209s103
LINC	Lincoln Educational	209,006	$10.43M	1.4%	—	—	COM	533535100
CVS	CVS Health Corp.	98,981	$10.24M	1.4%	—	—	COM	126650100
C	Citigroup Inc.	68,456	$9.581M	1.3%	—	—	COM	172967424
BKNG	Booking Holdings Inc.	53,195	$9.481M	1.3%	—	—	COM	09857L108
AIG	American International Group	123,250	$9.186M	1.2%	—	—	COM	026874784
LOW	Lowes Companies	41,192	$9.082M	1.2%	—	—	COM	548661107
—	Meta Platforms, Inc.	15,744	$8.868M	1.2%	—	—	COM	30303m102
HD	Home Depot Inc.	22,850	$8.059M	1.1%	—	—	COM	437076102
AAPL	Apple, Inc.	26,997	$7.812M	1.0%	—	—	COM	037833100
—	AbbVie, Inc.	30,625	$7.706M	1.0%	—	—	COM	00287y109
KO	Coca-Cola Company	86,821	$7.056M	0.9%	—	—	COM	191216100
—	Monster Beverage Corp.	71,600	$6.882M	0.9%	—	—	COM	61174x109
—	RTX Corp.	34,238	$6.496M	0.9%	—	—	COM	75513e101
—	Zimmer Biomet Holdings	69,490	$5.982M	0.8%	—	—	COM	98956p102
ABT	Abbott Laboratories	65,472	$5.941M	0.8%	—	—	COM	002824100
—	Costco Wholesale Corp	6,280	$5.875M	0.8%	—	—	COM	22160k105
BP	BP p.l.c.	158,060	$5.84M	0.8%	—	—	FOR	055622104
UL	Unilever PLC ADR	92,574	$5.566M	0.7%	—	—	FOR	904767803
MRSH	Marsh	32,132	$5.355M	0.7%	—	—	COM	571748102
DGX	Quest Diagnostics Inc.	25,018	$5.303M	0.7%	—	—	COM	74834L100
CSCO	Cisco Sys Inc.	44,644	$5.244M	0.7%	—	—	COM	17275R102
—	Unum Group	54,502	$4.872M	0.7%	—	—	COM	91529y106
CI	The Cigna Group	17,218	$4.747M	0.6%	—	—	COM	125523100
—	Gates Industrial Corporation P	165,211	$4.621M	0.6%	—	—	COM	g39104107
CTVA	Corteva, Inc.	52,299	$4.429M	0.6%	—	—	COM	22052L104
CVX	Chevron Corp.	25,613	$4.246M	0.6%	—	—	COM	166764100
—	Molson Coors Brewing Co	103,625	$4.037M	0.5%	—	—	COM	60871r209
AMZN	Amazon.com, Inc.	16,357	$3.899M	0.5%	—	—	COM	023135106
—	Qnity Electronics Inc.	22,887	$3.738M	0.5%	—	—	COM	74743l100
PAYX	Paychex Inc.	37,097	$3.648M	0.5%	—	—	COM	704326107
—	Keurig Dr. Pepper Inc.	110,920	$3.63M	0.5%	—	—	COM	49271v100
—	Arcos Dorados Hldgs.	419,059	$3.378M	0.5%	—	—	FOR	g0457f107
AMGN	Amgen Inc.	8,785	$3.181M	0.4%	—	—	COM	031162100
CPF	Central Pacific Financial Corp	83,010	$3.171M	0.4%	—	—	COM	154760409
CAT	Caterpillar Inc.	2,951	$3.143M	0.4%	—	—	COM	149123101
WAFD	Washington Federal	77,725	$2.982M	0.4%	—	—	COM	938824109
FISV	Fiserv Inc.	59,940	$2.94M	0.4%	—	—	COM	337738108
BA	Boeing Company	13,444	$2.91M	0.4%	—	—	COM	097023105
—	ConocoPhillips	27,984	$2.909M	0.4%	—	—	COM	20825c104
—	DR Horton, Inc	17,200	$2.802M	0.4%	—	—	COM	23331a109
PSX	Phillips 66	16,174	$2.734M	0.4%	—	—	COM	718546104
—	Trane Technologies PLC	5,487	$2.695M	0.4%	—	—	FOR	g8994e103
BDX	Becton Dickinson & Co	17,719	$2.681M	0.4%	—	—	COM	075887109
TSM	Taiwan Semiconductor Manufactu	5,587	$2.668M	0.4%	—	—	FOR	874039100
FDX	Fedex Corp	8,501	$2.662M	0.4%	—	—	COM	31428X106
PG	Procter & Gamble Co.	17,566	$2.576M	0.3%	—	—	COM	742718109
MCD	McDonalds Corp	9,497	$2.567M	0.3%	—	—	COM	580135101
WFC	Wells Fargo & Co.	30,119	$2.489M	0.3%	—	—	COM	949746101
INTC	Intel Corp.	17,816	$2.488M	0.3%	—	—	COM	458140100
—	Grand Canyon Education, Inc.	17,370	$2.486M	0.3%	—	—	COM	38526m106
—	Alphabet, Inc Non-Voting Class	6,750	$2.385M	0.3%	—	—	COM	02079k107
—	General Motors Company	30,804	$2.374M	0.3%	—	—	COM	37045v100
—	Ameriprise Financial Inc.	4,988	$2.288M	0.3%	—	—	COM	03076c106
—	LyondellBasell Industries N.V.	42,093	$2.216M	0.3%	—	—	FOR	n53745100
AXP	American Express Co.	6,261	$2.118M	0.3%	—	—	COM	025816109
KLAC	KLA Corporation	7,000	$2.112M	0.3%	—	—	COM	482480100
—	DuPont de Nemours, Inc	15,023	$2.038M	0.3%	—	—	COM	26614n201
PH	Parker-Hannifin Corp.	2,057	$2.012M	0.3%	—	—	COM	701094104
—	Comcast Corp Cl A	80,092	$1.966M	0.3%	—	—	COM	20030n101
—	America Movil ADR	75,030	$1.95M	0.3%	—	—	FOR	02390a101
—	Biogen Inc.	8,684	$1.876M	0.3%	—	—	COM	09062x103
UNP	Union Pacific Corp	6,890	$1.874M	0.3%	—	—	COM	907818108
WBD	Warner Bros. Discovery, Inc.	67,336	$1.795M	0.2%	—	—	COM	934423104
—	Celsius Holdings, Inc.	59,963	$1.756M	0.2%	—	—	COM	15118v207
MDLZ	Mondelez International, Inc.	30,283	$1.752M	0.2%	—	—	COM	609207105
ORCL	Oracle Corp	11,767	$1.724M	0.2%	—	—	COM	68389X105
BEN	Franklin Resources Inc.	49,505	$1.647M	0.2%	—	—	COM	354613101
—	AON Plc	4,922	$1.633M	0.2%	—	—	FOR	g0403h108
YUM	Yum! Brands, Inc.	10,193	$1.629M	0.2%	—	—	COM	988498101
—	FTAI Aviation Ltd.	6,000	$1.623M	0.2%	—	—	COM	G3730v105
HRB	H&R Block Inc.	42,211	$1.607M	0.2%	—	—	COM	093671105
UPS	United Parcel Service Inc.	14,809	$1.592M	0.2%	—	—	COM	911312106
—	ExxonMobil Holdings Corporatio	11,551	$1.579M	0.2%	—	—	COM	30233q108
—	The Mosaic Company	70,188	$1.487M	0.2%	—	—	COM	61945c103
PFE	Pfizer Inc.	60,974	$1.468M	0.2%	—	—	COM	717081103
GSK	Glaxo SmithKline ADS	27,181	$1.425M	0.2%	—	—	FOR	37733W204
—	ASML Holding N.V.	708	$1.409M	0.2%	—	—	FOR	n07059210
DIS	The Walt Disney Co.	13,852	$1.333M	0.2%	—	—	COM	254687106
HSY	Hershey Company	7,560	$1.326M	0.2%	—	—	COM	427866108
ADP	Automatic Data Processing	5,823	$1.304M	0.2%	—	—	COM	053015103
VZ	Verizon Communications	30,111	$1.275M	0.2%	—	—	COM	92343V104
CAE	CAE Inc.	50,830	$1.274M	0.2%	—	—	FOR	124765108
—	Sally Beauty Holdings Inc.	89,137	$1.26M	0.2%	—	—	COM	79546e104
—	Arch Capital Group Ltd	12,905	$1.253M	0.2%	—	—	FOR	g0450a105
BMY	Bristol Myers Squibb Co.	21,671	$1.249M	0.2%	—	—	COM	110122108
SHEL	Shell PLC	16,098	$1.248M	0.2%	—	—	FOR	780259305
GILD	Gilead Sciences Inc.	8,611	$1.088M	0.1%	—	—	COM	375558103
—	FirstService Corp Voting Share	6,873	$977K	0.1%	—	—	FOR	33767e202
USB	US Bancorp Delaware New	16,050	$969K	0.1%	—	—	COM	902973304
AMAT	Applied Materials Inc Delaware	1,283	$928K	0.1%	—	—	COM	038222105
—	Alibaba Group Holding Limited	9,506	$912K	0.1%	—	—	FOR	01609w102
—	Micron Technology Inc.	790	$912K	0.1%	—	—	COM	595112AB9
SBUX	Starbucks Corp	8,874	$907K	0.1%	—	—	COM	855244109
WAT	Waters Corp.	2,388	$896K	0.1%	—	—	COM	941848103
—	Diageo PLC ADR	11,133	$895K	0.1%	—	—	FOR	25243q205
TPR	Tapestry Inc.	5,945	$870K	0.1%	—	—	COM	876030107
GE	GE Aerospace	2,145	$802K	0.1%	—	—	COM	369604301
CTSH	Cognizant Technology Solutions	20,118	$779K	0.1%	—	—	COM	192446102
—	Wal-Mart de Mexico SA DE	24,928	$733K	0.1%	—	—	FOR	93114w107
LLY	Eli Lilly & Co	599	$718K	0.1%	—	—	COM	532457108
GEV	GE Vernova Inc.	593	$697K	0.1%	—	—	COM	36828A101
PGR	Progressive Corp	3,167	$692K	0.1%	—	—	COM	743315103
CIGI	Colliers International Group	7,160	$672K	0.1%	—	—	FOR	194693107
SCHW	Charles Schwab Corp	6,993	$645K	0.1%	—	—	COM	808513105
FDXF	FedEx Freight Holding Company	4,234	$639K	0.1%	—	—	COM	314352105
LMT	Lockheed Martin Corp	1,250	$637K	0.1%	—	—	COM	539830109
—	Nvidia Corp	3,121	$624K	0.1%	—	—	COM	67066g104
DECK	Deckers Outdoor Corp	6,262	$622K	0.1%	—	—	COM	243537107
TELFY	Telefonica S.A. ADR	150,122	$594K	0.1%	—	—	FOR	879382208
—	Johnson Controls Intl. PLC	3,922	$573K	0.1%	—	—	FOR	g51502105
NKE	Nike Inc Class B	13,746	$564K	0.1%	—	—	COM	654106103
QCOM	Qualcomm Inc	3,032	$560K	0.1%	—	—	COM	747525103
CE	Celanese Corp	11,637	$535K	0.1%	—	—	COM	150870103
DOW	Dow Inc.	19,291	$528K	0.1%	—	—	COM	260557103
DAL	Delta Airlines - New	5,547	$520K	0.1%	—	—	COM	247361702
—	Domino's Pizza Inc.	1,737	$514K	0.1%	—	—	COM	25754a201
GPC	Genuine Parts Co	4,340	$512K	0.1%	—	—	COM	372460105
—	Allegion PLC	3,323	$467K	0.1%	—	—	FOR	g0176j109
—	Kenvue Inc.	23,571	$450K	0.1%	—	—	COM	49177j102
—	Public Storage. Inc.	1,405	$447K	0.1%	—	—	COM	74460d109
—	Hewlett Packard Enterprise Co.	9,584	$432K	0.1%	—	—	COM	42824c109
UTI	Universal Technical Institute	10,000	$428K	0.1%	—	—	COM	913915104
—	Devon Energy Corp.	10,350	$428K	0.1%	—	—	COM	25179m103
—	Ingersoll Rand Inc.	5,067	$415K	0.1%	—	—	COM	45687v106
—	Vertiv Holdings Co.	1,190	$398K	0.1%	—	—	COM	92537n108
AGCO	AGCO Corp	3,226	$386K	0.1%	—	—	COM	001084102
—	AT & T, Inc. New	18,584	$385K	0.1%	—	—	COM	00206r102
ALK	Alaska Air Group Inc.	7,332	$383K	0.1%	—	—	COM	011659109
—	Magnum Ice Cream Company NV	21,933	$382K	0.1%	—	—	FOR	n5505d105
—	Verisk Analytics, Inc.	2,100	$377K	0.1%	—	—	COM	92345y106
—	Yum China Holdings, Inc.	9,027	$369K	0.0%	—	—	FOR	98850p109
—	Alkermes PLC	6,883	$361K	0.0%	—	—	FOR	g01767105
WY	Weyerhaeuser Co.	15,060	$361K	0.0%	—	—	COM	962166104
CSX	CSX Corp	7,566	$360K	0.0%	—	—	COM	126408103
AMD	Advanced Micro Devices	595	$346K	0.0%	—	—	COM	007903107
NUE	Nucor Corp	1,541	$343K	0.0%	—	—	COM	670346105
HLN	Haleon PLC	36,442	$340K	0.0%	—	—	FOR	405552100
GD	General Dynamics	952	$337K	0.0%	—	—	COM	369550108
WM	Waste Management Inc. Del	1,480	$330K	0.0%	—	—	COM	94106L109
—	J P Morgan Chase & Co.	1,003	$328K	0.0%	—	—	COM	46625h100
—	Capital One Financial	1,625	$326K	0.0%	—	—	COM	14040h105
SPGI	S&P Global Inc.	750	$305K	0.0%	—	—	COM	78409V104
OXY	Occidental Petroleum Corp	5,879	$286K	0.0%	—	—	COM	674599105
CAG	ConAgra Foods Inc.	18,770	$253K	0.0%	—	—	COM	205887102
ITW	Illinois Tool Works Inc.	930	$252K	0.0%	—	—	COM	452308109
—	Principal Financial Group	2,322	$250K	0.0%	—	—	COM	74251v102
LH	Labcorp Holdings Inc.	890	$249K	0.0%	—	—	COM	504922105
—	Ferguson Enterprises	1,050	$249K	0.0%	—	—	COM	31488v107
—	Enbridge Inc.	4,534	$246K	0.0%	—	—	FOR	29250n105
ANDE	Andersons Inc.	3,492	$239K	0.0%	—	—	COM	034164103
—	Tenet Healthcare Corp.	1,250	$234K	0.0%	—	—	COM	88033g107
BIDU	Baidu Inc. ADR	2,030	$232K	0.0%	—	—	FOR	056752108
—	Eaton Corp PLC	544	$232K	0.0%	—	—	FOR	g29183103
PPIH	Perma-Pipe International Holdi	8,400	$229K	0.0%	—	—	COM	714167103
THG	The Hanover Insurance Group	1,000	$214K	0.0%	—	—	COM	410867105
TM	Toyota Motor Corp ADR	1,249	$210K	0.0%	—	—	FOR	892331307
—	3M Company	1,285	$208K	0.0%	—	—	COM	88579y101
—	Paramount Skydance Corp Class	15,915	$157K	0.0%	—	—	COM	69932a204
NOK	Nokia Corp Sponsored ADR	10,107	$134K	0.0%	—	—	FOR	654902204
WU	Western Union Company	14,236	$110K	0.0%	—	—	COM	959802109
—	Rithm Capital Corp. REIT	11,000	$103K	0.0%	—	—	COM	64828t201
—	DHI Group Inc.	10,000	$37,100	0.0%	—	—	COM	23331s100