Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GWW	GRAINGER WW INC	22,786	$6.433M	3.0%	$201.89	+34.0%	COM	384802104
SBUX	STARBUCKS CORP	94,399	$6.079M	2.9%	$32.51	+65.0%	COM	855244109
—	LINDE PLC COM	33,652	$5.251M	2.5%	$156.04	—	COM	G5494J103
MA	MASTERCARD INC	27,531	$5.193M	2.5%	$70.62	+170.3%	COM	57636Q104
XOM	EXXON MOBIL CORP	62,121	$4.236M	2.0%	$54.15	+4.2%	COM	30231G102
ADP	AUTO DATA PROCESSING	30,724	$4.028M	1.9%	$46.19	+162.3%	COM	053015103
HSY	HERSHEY FOODS CORP	37,470	$4.016M	1.9%	$65.77	+36.9%	COM	427866108
APD	AIR PRODUCTS & CHEMICALS	24,717	$3.955M	1.9%	$65.22	+104.2%	COM	009158106
JNJ	JOHNSON & JOHNSON	29,623	$3.822M	1.8%	$59.93	+90.5%	COM	478160104
PEP	PEPSICO INCORPORATED	33,637	$3.716M	1.8%	$56.24	+61.2%	COM	713448108
CVX	CHEVRONTEXACO CORP	34,141	$3.714M	1.8%	$73.81	+14.8%	COM	166764100
IFF	INTL FLAVOR & FRAGRANCES	27,051	$3.632M	1.7%	$58.56	+95.6%	COM	459506101
TSCO	TRACTOR SUPPLY COMPANY	41,440	$3.457M	1.6%	$9.94	+61.6%	COM	892356106
TXN	TEXAS INSTRUMENTS INC	36,526	$3.451M	1.6%	$25.31	+212.6%	COM	882508104
SYY	SYSCO CORP.	53,371	$3.344M	1.6%	$24.48	+127.7%	COM	871829107
ABBV	ABBVIE INC COM	34,480	$3.178M	1.5%	$26.65	+143.2%	COM	00287Y109
A	AGILENT TECHNOLOGIES	45,351	$3.059M	1.4%	$28.57	+123.7%	COM	00846U101
MKC	MC CORMICK & CO NEW VT	21,090	$2.936M	1.4%	$29.12	+114.9%	COM	579780206
EMR	EMERSON ELECTRIC	49,105	$2.934M	1.4%	$41.26	+38.2%	COM	291011104
BR	BROADRIDGE FINANCIAL	28,875	$2.779M	1.3%	$20.36	+370.4%	COM	11133T103
MSFT	MICROSOFT CORP	27,156	$2.758M	1.3%	$27.57	+262.7%	COM	594918104
ABT	ABBOTT LABORATORIES	36,972	$2.674M	1.3%	$28.96	+114.6%	COM	002824100
UNP	UNION PACIFIC CORP	19,301	$2.667M	1.3%	$67.70	+86.7%	COM	907818108
BF/B	BROWN FORMAN CORP CL B	54,374	$2.587M	1.2%	$31.39	+34.1%	COM	115637209
KMB	KIMBERLY-CLARK CORP	22,527	$2.566M	1.2%	$63.26	+36.6%	COM	494368103
SON	SONOCO PRODUCTS INC	42,353	$2.25M	1.1%	$27.12	+58.0%	COM	835495102
FIS	FIDELITY NATL INFO SVCS	21,840	$2.239M	1.1%	$35.22	+158.6%	COM	31620M106
—	INGERSOLL-RAND COMPANY	24,410	$2.226M	1.1%	$56.45	—	COM	G47791101
DRI	DARDEN RESTURANTS INC	21,150	$2.112M	1.0%	$33.70	+160.5%	COM	237194105
MIDD	MIDDLEBY CORP THE	20,525	$2.108M	1.0%	$73.60	+54.7%	COM	596278101
DIS	DISNEY WALT HOLDING CO	18,873	$2.069M	1.0%	$59.07	+84.7%	COM	254687106
GRC	GORMAN-RUPP CO COM	63,372	$2.053M	1.0%	$25.45	+31.3%	COM	383082104
CPK	CHESAPEAKE UTIL CORP	24,351	$1.979M	0.9%	$30.46	+139.9%	COM	165303108
EL	LAUDER ESTEE CORP CL A	14,222	$1.85M	0.9%	$58.38	+112.5%	COM	518439104
—	WESTROCK CO COM	48,771	$1.841M	0.9%	$50.84	—	COM	96145D105
ASIX	ADVANSIX INC COM	73,276	$1.783M	0.8%	$16.41	+54.5%	COM	00773T101
AAPL	APPLE, INC	11,111	$1.752M	0.8%	$19.39	+137.3%	COM	037833100
MMM	3M COMPANY	9,010	$1.716M	0.8%	$61.68	+107.9%	COM	88579Y101
DE	DEERE & CO	11,250	$1.678M	0.8%	$69.76	+88.9%	COM	244199105
—	VERSUM MATLS INC COM	59,990	$1.662M	0.8%	$28.07	—	COM	92532W103
KEYS	KEYSIGHT TECHNOLOGIES INC COM	25,524	$1.584M	0.7%	$31.97	+88.2%	COM	49338L103
KEX	KIRBY CORP	23,233	$1.564M	0.7%	$77.91	-5.0%	COM	497266106
NSC	NORFOLK SOUTHERN CORP	10,355	$1.548M	0.7%	$57.67	+146.8%	COM	655844108
VLO	VALERO ENERGY	20,650	$1.548M	0.7%	$25.07	+161.4%	COM	91913Y100
—	BUNGE	28,892	$1.543M	0.7%	$69.85	—	COM	G16962105
CASY	CASEYS GENERAL STORES INC	11,960	$1.532M	0.7%	$64.27	+88.4%	COM	147528103
KO	COCA-COLA COMPANY	32,228	$1.525M	0.7%	$27.91	+37.6%	COM	191216100
HD	HOME DEPOT INC	8,618	$1.48M	0.7%	$56.73	+165.1%	COM	437076102
—	STERIS PLC	13,126	$1.402M	0.7%	$55.99	—	COM	859152100
AIN	ALBANY INT'L CORP.	22,400	$1.398M	0.7%	$31.74	+101.3%	COM	012348108
MSA	MINE SAFTEY APPLIANCE CO	14,650	$1.381M	0.7%	$54.90	+86.0%	COM	553498106
GT	GOODYEAR TIRE & RUBBER	66,340	$1.353M	0.6%	$20.13	+7.6%	COM	382550101
AVT	AVNET INC	37,425	$1.351M	0.6%	$25.85	+32.4%	COM	053807103
—	EATON CORPORATION	19,529	$1.34M	0.6%	$66.81	—	COM	278058102
HON	HONEYWELL INC.	9,947	$1.314M	0.6%	$54.09	+117.6%	COM	438516106
COST	COSTCO WHOLSALE CORP NEW	6,041	$1.23M	0.6%	$88.47	+128.3%	COM	22160K105
OLN	OLIN CORP NEW	61,175	$1.23M	0.6%	$16.92	+3.1%	COM	680665205
AIT	APPLIED INDL. TECH.	22,800	$1.229M	0.6%	$40.43	+46.6%	COM	03820C105
MPC	MARATHON PETE CORP COM	20,819	$1.228M	0.6%	$44.97	+20.6%	COM	56585A102
CTAS	CINTAS CORP	7,251	$1.218M	0.6%	$9.70	+329.3%	COM	172908105
—	NEENAH PAPER INC	20,676	$1.218M	0.6%	$32.13	—	COM	640079109
GIS	GENERAL MILLS INC	30,690	$1.195M	0.6%	$32.05	+2.9%	COM	370334104
ATO	ATMOS ENERGY CORP	12,826	$1.189M	0.6%	$32.40	+148.3%	COM	049560105
PH	PARKER-HANNIFIN CORP	7,900	$1.178M	0.6%	$107.64	+35.1%	COM	701094104
AXP	AMERICAN EXPRESS CO.	12,360	$1.178M	0.6%	$62.75	+51.4%	COM	025816109
GAP	GAP INC	44,750	$1.152M	0.5%	$25.95	-20.1%	COM	364760108
CE	CELANESE CORP.	12,700	$1.142M	0.5%	$46.08	+85.6%	COM	150870103
LOW	LOWES COMPANIES INC	12,304	$1.136M	0.5%	$32.55	+160.0%	COM	548661107
NTRS	NORTHERN TRUST CORP	13,583	$1.135M	0.5%	$40.63	+85.4%	COM	665859104
ADI	ANALOG DEVICES INC	12,584	$1.08M	0.5%	$34.29	+121.1%	COM	032654105
CAT	CATERPILLAR INC	8,453	$1.074M	0.5%	$63.39	+75.9%	COM	149123101
COP	CONOCOPHILLIPS	17,187	$1.071M	0.5%	$42.93	+24.4%	COM	20825C104
—	OWENS ILLINOIS INC NEW	59,800	$1.03M	0.5%	$18.07	—	COM	690768403
SR	SPIRE	13,900	$1.029M	0.5%	$70.79	—	COM	84857L101
OKE	ONEOK, INC	18,649	$1.006M	0.5%	$19.60	+100.4%	COM	682680103
NEM	NEWMONT MINING	27,826	$964K	0.5%	$21.31	+22.2%	COM	651639106
BMY	BRISTOL MYERS SQUIBB CO	18,233	$947K	0.4%	$29.05	+41.1%	COM	110122108
TKR	TIMKEN COMPANY	25,300	$944K	0.4%	$39.59	+2.2%	COM	887389104
VZ	VERIZON COMM	16,718	$939K	0.4%	$27.54	+40.2%	COM	92343V104
MET	METLIFE INC	22,682	$931K	0.4%	$26.65	+26.3%	COM	59156R108
—	CHUBB CORPORATION	6,942	$896K	0.4%	$91.28	—	COM	171232101
SYK	STRYKER CORP	5,600	$877K	0.4%	$60.41	+156.2%	COM	863667101
FELE	FRANKLIN ELEC CO INC	20,200	$866K	0.4%	$28.98	+38.7%	COM	353514102
—	DOWDUPONT INC COM	15,962	$853K	0.4%	$67.79	—	COM	26078J100
—	21ST CENT FOX Cl A	17,300	$832K	0.4%	$33.49	—	COM	90130A101
D	DOMINION RESOURCES INC.	11,600	$828K	0.4%	$35.34	+50.6%	COM	25746U109
SWK	STANLEY BLACK & DECKER INC.	6,790	$813K	0.4%	$57.30	+77.2%	COM	854502101
—	UNITED TECHNOLOGIES CORP	7,615	$810K	0.4%	$94.12	—	COM	913017109
MRK	MERCK & CO INC	10,272	$784K	0.4%	$30.79	+83.5%	COM	58933Y105
GLW	CORNING INC.	25,925	$783K	0.4%	$10.87	+140.8%	COM	219350105
—	ROWAN COMPANIES	91,129	$764K	0.4%	$33.61	—	COM	779382100
—	DUKE ENERGY CORPORATION	8,857	$764K	0.4%	$67.96	—	COM	26441C105
NGVT	INGEVITY CORP COM	8,679	$726K	0.3%	$33.11	+173.5%	COM	45688C107
MUR	MURPHY OIL CORP	30,970	$724K	0.3%	$34.50	-31.5%	COM	626717102
HP	HELMERICH & PAYNE INC	15,000	$719K	0.3%	$63.04	-2.6%	COM	423452101
CVGW	CALAVO GROWERS INC	9,800	$715K	0.3%	$25.96	+212.4%	COM	128246105
AMAT	APPLIED MATERIALS INC	21,150	$692K	0.3%	$12.71	+149.5%	COM	038222105
DOV	DOVER CORPORATION	9,425	$668K	0.3%	$41.67	+76.2%	COM	260003108
BHF	BRIGHTHOUSE FINL INC COM	21,836	$665K	0.3%	$59.13	-34.0%	COM	10922N103
MUSA	MURPHY USA INC.	8,593	$658K	0.3%	$40.01	+91.6%	COM	626755102
ENB	ENBRIDGE INC.	21,003	$652K	0.3%	$24.58	-17.6%	COM	29250N105
BK	BANK OF NEW YORK CO INC	13,700	$644K	0.3%	$21.22	+86.8%	COM	064058100
ATI	ALLEGHENY TECH INC	29,000	$631K	0.3%	$16.62	+56.0%	COM	01741R102
PFE	PFIZER INC	14,449	$630K	0.3%	$17.19	+74.7%	COM	717081103
CSX	CSX CORP	9,900	$615K	0.3%	$6.91	+202.4%	COM	126408103
ALLE	ALLEGION PUBLIC LTD. CO.	7,401	$589K	0.3%	$39.31	+100.7%	COM	G0176J109
—	AMERITRADE HLDNG CORP CL A	11,850	$580K	0.3%	$24.54	—	COM	87236Y108
GPC	GENUINE PARTS CO COM	5,960	$572K	0.3%	$55.02	+46.3%	COM	372460105
—	CDK GLOBAL HOLDINGS LLC COM	11,502	$550K	0.3%	$41.70	—	COM	12508E101
INTC	INTEL	11,338	$532K	0.3%	$17.42	+130.7%	COM	458140100
—	CREE INC	12,300	$526K	0.2%	$63.79	—	COM	225447101
SLB	SCHLUMBERGER LTD F	14,230	$513K	0.2%	$53.97	-25.5%	COM	806857108
PSX	PHILLIPS 66 COM	5,731	$493K	0.2%	$40.67	+80.2%	COM	718546104
AWR	AMERICAN STATES WATER CO	7,100	$475K	0.2%	$21.56	+160.4%	COM	029899101
—	KANSAS CITY SOUTHERN NEW	4,800	$458K	0.2%	$106.53	—	COM	485170302
ICE	INTERCONTINENTAL EXCHANGE	6,000	$451K	0.2%	$46.42	+50.5%	COM	45866F104
SHW	SHERWIN WILLIAMS CO	1,100	$432K	0.2%	$53.48	+136.7%	COM	824348106
WFC	WELLS FARGO & CO NEW	8,942	$412K	0.2%	$27.89	+50.7%	COM	949746101
—	MEREDITH CORP.	7,500	$389K	0.2%	$47.73	—	COM	589433101
ARTNA	ARTESIAN RES CORP CLA	11,100	$387K	0.2%	$15.52	+88.5%	COM	043113208
PAG	PENSKE AUTOMOTIVE GROUP	9,300	$374K	0.2%	$31.60	+36.8%	COM	70959W103
NTR	NUTRIEN LTD CO COM	7,960	$374K	0.2%	$38.37	+6.5%	COM	67077M108
OGS	ONE GAS INC COM	4,608	$366K	0.2%	$38.82	+112.4%	COM	68235P108
—	DENNYS CORP	22,500	$364K	0.2%	$5.70	—	COM	24869P104
BP	BP PLC	9,320	$353K	0.2%	$41.74	—	COM	055622104
CPB	CAMPBELL SOUP COMPANY	10,000	$329K	0.2%	$30.19	-1.1%	COM	134429109
IP	INTERNATIONAL PAPER CO	8,175	$329K	0.2%	$27.17	+12.1%	COM	460146103
FARM	FARMER BROS. CO.	14,100	$328K	0.2%	$33.02	-26.7%	COM	307675108
AMGN	AMGEN INC	1,680	$327K	0.2%	$79.04	+98.4%	COM	031162100
PCAR	PACCAR INC	5,700	$325K	0.2%	$22.31	+34.2%	COM	693718108
AEP	AMER ELECTRIC PWR CO INC	4,320	$322K	0.2%	$30.99	+88.4%	COM	025537101
FLR	FLUOR CORPORATION	9,800	$315K	0.1%	$52.93	-22.1%	COM	343412102
CMA	COMERICA INC.	4,393	$301K	0.1%	$34.93	+61.8%	COM	200340107
AZN	ASTRAZENECA PLC ADR	7,900	$300K	0.1%	$43.84	—	COM	046353108
IBM	INTL BUSINESS MACHINES	2,586	$293K	0.1%	$118.79	-26.0%	COM	459200101
—	AEROJET ROCKETDYNE HLDGS INC C OM	8,200	$288K	0.1%	$35.00	—	COM	007800105
HBAN	HUNTINGTON BANCSHARES INC	23,726	$282K	0.1%	$4.90	+103.2%	COM	446150104
CFR	CULLEN FROST BANKERS	3,100	$272K	0.1%	$53.82	+45.6%	COM	229899109
—	NUVEEN TX QLTY INCM MUN	21,300	$263K	0.1%	$13.61	—	COM	670983105
—	ANGLOGOLD LTD	20,940	$262K	0.1%	$14.30	—	COM	035128206
—	TWENTY FIRST CENTURY FOX INC CLASS B COM	5,400	$258K	0.1%	$33.29	—	COM	90130A200
—	FERRO CORP	16,426	$257K	0.1%	$7.54	—	COM	315405100
VVV	VALVOLINE INC.	13,301	$257K	0.1%	$23.39	-14.6%	COM	92047W101
BDX	BECTON DICKINSON & CO	1,140	$256K	0.1%	$138.32	+50.5%	COM	075887109
USB	US BANCORP DEL	5,600	$255K	0.1%	$22.41	+70.8%	COM	902973304
LLY	LILLY ELI & COMPANY	2,203	$254K	0.1%	$90.28	+12.3%	COM	532457108
—	HOLLYFRONTIER CORP COM	4,956	$253K	0.1%	$51.15	—	COM	435758305
—	ROYAL DUTCH SHELL ADR F	4,316	$251K	0.1%	$66.50	—	COM	780259206
AEM	AGNICO-EAGLE MINES LTD	6,200	$250K	0.1%	$36.93	-14.5%	COM	008474108
—	BANCORP SOUTH CM	9,500	$248K	0.1%	$22.44	—	COM	059692103
NEE	NEXTERA ENERGY INC	1,430	$248K	0.1%	$27.54	+33.1%	COM	65339F101
PNC	PNC BANK CORP	2,110	$246K	0.1%	$63.28	+56.4%	COM	693475105
—	NOBLE ENERGY INC.	13,150	$246K	0.1%	$54.08	—	COM	655044105
HAL	HALLIBURTON COMPANY	9,161	$243K	0.1%	$33.14	-12.1%	COM	406216101
AVY	AVERY DENNISON CORP	2,700	$242K	0.1%	$66.26	+25.2%	COM	053611109
OXY	OCCIDENTAL PETE CORP	3,918	$240K	0.1%	$57.79	+3.0%	COM	674599105
KEY	KEYCORP	16,166	$238K	0.1%	$6.55	+91.0%	COM	493267108
—	MARATHON OIL CO.	16,380	$234K	0.1%	$31.90	—	COM	565849106
—	ASHLAND INC	3,200	$227K	0.1%	$119.62	—	COM	044209104
—	XEROX CORP	11,458	$226K	0.1%	$10.63	—	COM	984121103
—	ANADARKO PETROLEUM CORP	5,081	$222K	0.1%	$78.53	—	COM	032511107
ZION	ZIONS BANCORPORATION COM	5,300	$215K	0.1%	$41.18	+13.2%	COM	989701107
AGI	ALAMOS GOLD INC.	58,862	$211K	0.1%	$6.15	-40.0%	COM	011532108
—	HESS CORPORATION	5,100	$206K	0.1%	$48.50	—	COM	42809H107
F	FORD MOTOR COMPANY	26,650	$203K	0.1%	$7.77	-20.1%	COM	345370860
FANG	DIAMONDBACK ENERGY	2,187	$202K	0.1%	$86.64	0.0%	COM	25278X109
MATX	MATSON INC COM	6,300	$201K	0.1%	$29.41	+11.7%	COM	57686G105
CNMD	CONNECTICUT WTR SVCS INC	3,000	$200K	0.1%	$72.38	-11.3%	COM	207410101
NRT	NO EUROPEAN OIL TR	32,300	$187K	0.1%	$17.28	—	COM	659310106
RIG	TRANSOCEAN SEDCO FOREX	26,183	$181K	0.1%	$48.22	-78.9%	COM	H8817H100
MWA	MUELLER WATER PRODUCTS	19,000	$172K	0.1%	$5.84	+58.9%	COM	624758108
RF	REGIONS FINANCIAL CP NEW	12,769	$170K	0.1%	$6.02	+99.4%	COM	7591EP100
—	BARRICK GOLD	10,281	$139K	0.1%	$14.45	—	COM	067901108
PBR	PETROLEO BRASILERIO ADRF	10,575	$137K	0.1%	$13.47	—	COM	71654V408
KGC	KINROSS GOLD CORP NEW	39,773	$128K	0.1%	$3.92	-28.7%	COM	496902404
PBT	PERMIAN BASIN ROYALTY TR	19,900	$117K	0.1%	$12.16	—	COM	714236106
—	INTEVAC INC	19,400	$101K	0.0%	$12.12	—	COM	461148108
MTUS	TIMKENSTEEL CORP COM	11,500	$100K	0.0%	$35.63	-67.8%	COM	887399103
IAG	IAMGOLD CORPORATION	16,760	$61,000	0.0%	$3.61	-2.9%	COM	450913108
—	ENSCO INTERNATIONAL INC	16,700	$59,000	0.0%	$3.53	—	COM	G3157S106
XPL	SOLITARIO EXPLORATION	203,000	$47,000	0.0%	$1.31	-76.9%	COM	8342EP107
HL	HECLA MINING	12,500	$29,000	0.0%	$2.97	-17.0%	COM	422704106
—	PDL BIOPHARMA INC	10,300	$29,000	0.0%	$2.82	—	COM	69329Y104
—	YAMANA GOLD INC	11,000	$25,000	0.0%	$5.52	—	COM	98462Y100
—	NABORS INDUSTRIES INC	11,100	$22,000	0.0%	$1.98	—	COM	G6359F103
—	STEIN MART INC	10,800	$11,000	0.0%	$1.61	—	COM	858375108