The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AT&T Corp. (New) COM 00206R102   1,063,214 57,752 SH   SOLE   57,752 0 0
AbbVie, Inc. COM 00287Y109   5,718,247 35,383 SH   SOLE   35,383 0 0
Abbott Laboratories COM 002824100   1,552,540 14,141 SH   SOLE   14,141 0 0
American Express COM 025816109   2,356,613 15,950 SH   SOLE   15,950 0 0
Amgen Inc. COM 031162100   3,126,614 11,905 SH   SOLE   11,905 0 0
Anheuser Busch InBev COM 03524a108   1,113,742 18,550 SH   SOLE   18,550 0 0
Apple Computer COM 037833100   1,097,389 8,446 SH   SOLE   8,446 0 0
Atlassian Corporation COM G06242104   392,474 3,050 SH   SOLE   3,050 0 0
Avista (formerly Washington Wa COM 05379B107   208,398 4,700 SH   SOLE   4,700 0 0
Bristol-Myers Squibb COM 110122108   1,835,157 25,506 SH   SOLE   25,506 0 0
Bunge Ltd. COM G16962105   2,883,353 28,900 SH   SOLE   28,900 0 0
CSX Corp. COM 126408103   3,080,187 99,425 SH   SOLE   99,425 0 0
Camping World Holdings,Inc. COM 13462K109   419,616 18,800 SH   SOLE   18,800 0 0
Cardinal Health COM 14149Y108   368,976 4,800 SH   SOLE   4,800 0 0
Carrier Global Corporation COM 14448c104   321,379 7,791 SH   SOLE   7,791 0 0
Caterpillar Inc. COM 149123101   251,538 1,050 SH   SOLE   1,050 0 0
Chevron Corporation (fmly. Che COM 166764100   3,251,282 18,114 SH   SOLE   18,114 0 0
Clorox Co. COM 189054109   1,944,974 13,860 SH   SOLE   13,860 0 0
ConocoPhillips COM 20825C104   1,706,988 14,466 SH   SOLE   14,466 0 0
Copart Inc. COM 217204106   2,295,553 37,700 SH   SOLE   37,700 0 0
DNP Select Income Fund (fmly. COM 23325p104   721,496 64,133 SH   SOLE   64,133 0 0
Direxion Daily S&P 500 Bear 1X COM 25460e869   1,525,524 92,400 SH   SOLE   92,400 0 0
Duke Energy COM 264399106   264,839 2,571 SH   SOLE   2,571 0 0
Equinor ASA (formerly Statoil COM 29446m102   916,736 25,600 SH   SOLE   25,600 0 0
Essex Property Trust COM 297178105   1,318,354 6,221 SH   SOLE   6,221 0 0
Gilead Sciences, Inc. COM 375558103   1,473,701 17,166 SH   SOLE   17,166 0 0
Hawaiian Electric COM 419870100   1,741,462 41,612 SH   SOLE   41,612 0 0
Healthpeak Properties Inc (frm COM 42250P103   487,210 19,434 SH   SOLE   19,434 0 0
Intel Corp. COM 458140100   983,989 37,230 SH   SOLE   37,230 0 0
Johnson & Johnson COM 478160104   1,338,300 7,576 SH   SOLE   7,576 0 0
Kellogg Co. COM 487836108   920,706 12,924 SH   SOLE   12,924 0 0
Kimberly-Clark COM 494368103   1,370,804 10,098 SH   SOLE   10,098 0 0
Leggett & Platt, Inc. COM 524660107   460,889 14,300 SH   SOLE   14,300 0 0
Lilly, Eli COM 532457108   2,668,071 7,293 SH   SOLE   7,293 0 0
Lockheed Martin Corp. COM 539830109   3,344,627 6,875 SH   SOLE   6,875 0 0
Medical Marijuana, Inc. COM 58463A105   122 20,000 SH   SOLE   20,000 0 0
Merck & Co. COM 589331107   3,783,395 34,100 SH   SOLE   34,100 0 0
Microchip Technology, Inc. COM 595017104   2,915,375 41,500 SH   SOLE   41,500 0 0
Microsoft COM 594918104   3,429,447 14,300 SH   SOLE   14,300 0 0
NetApp, Inc. COM 64110d104   288,288 4,800 SH   SOLE   4,800 0 0
Nucor Corporation COM 670346105   1,496,044 11,350 SH   SOLE   11,350 0 0
Occidental Petroleum COM 674599105   1,579,915 25,082 SH   SOLE   25,082 0 0
Open Joint Stock Co. Gazprom COM 368287207   0 128,500 SH   SOLE   128,500 0 0
Oracle Corp. COM 68389X105   621,224 7,600 SH   SOLE   7,600 0 0
Otis Worldwide Corp. COM 68902v107   309,951 3,958 SH   SOLE   3,958 0 0
Pepsico Inc. COM 713448108   2,122,394 11,748 SH   SOLE   11,748 0 0
Petroleo Brasileiro S.A. COM 71654v408   594,270 55,800 SH   SOLE   55,800 0 0
Phillips 66 COM 718546104   634,888 6,100 SH   SOLE   6,100 0 0
ProLogis (New) COM 74340w103   508,525 4,511 SH   SOLE   4,511 0 0
ProShares Short S&P 500 COM 74347R503   6,995,075 436,374 SH   SOLE   436,374 0 0
Procter & Gamble COM 742718109   24,147,145 159,324 SH   SOLE   159,324 0 0
Public Storage COM 74460D109   1,774,443 6,333 SH   SOLE   6,333 0 0
Qualcomm Inc. COM 747525103   560,694 5,100 SH   SOLE   5,100 0 0
Rayonier Inc. COM 754907103   487,808 14,800 SH   SOLE   14,800 0 0
Raytheon Technologies (frmly U COM 913017109   222,024 2,200 SH   SOLE   2,200 0 0
Realty Income Corp. COM 756109104   218,834 3,450 SH   SOLE   3,450 0 0
Regeneron Pharmaceuticals, Inc COM 75886f107   909,077 1,260 SH   SOLE   1,260 0 0
Regions Financial Corporation COM 7591EP100   310,464 14,400 SH   SOLE   14,400 0 0
Sanofi-Aventis SA COM 80105N105   1,162,078 23,995 SH   SOLE   23,995 0 0
Schlumberger, Ltd. COM 806857108   604,098 11,300 SH   SOLE   11,300 0 0
Shell plc (formerly Royal Dutc COM 780259305   367,328 6,450 SH   SOLE   6,450 0 0
Southern Company COM 842587107   1,932,783 27,066 SH   SOLE   27,066 0 0
Target Stores COM 87612E106   1,006,020 6,750 SH   SOLE   6,750 0 0
The Gabelli Healthcare and Wel COM 36246K103   1,698,256 165,200 SH   SOLE   165,200 0 0
TotalEnergies SE (frmly Total COM 89151E109   3,065,697 49,383 SH   SOLE   49,383 0 0
Transocean, Ltd. COM 893817106   414,139 90,820 SH   SOLE   90,820 0 0
Trimble Navigation Ltd. COM 896239100   206,689 4,088 SH   SOLE   4,088 0 0
Unilever PLC COM 904767704   1,051,006 20,874 SH   SOLE   20,874 0 0
Verizon Corporation COM 92343V104   1,374,942 34,897 SH   SOLE   34,897 0 0
Vestas Wind Systems A/S COM 925458101   844,844 88,000 SH   SOLE   88,000 0 0
W.P. Carey, Inc. COM 92936u109   1,500,089 19,195 SH   SOLE   19,195 0 0
Weyerhaeuser Co. COM 962166104   1,073,592 34,632 SH   SOLE   34,632 0 0
Invesco PureBeta 0-5 Yr US TIP COM 46138e495   1,968,273 80,700 SH   SOLE   80,700 0 0
Pimco 1-5 Year U.S. TIPS Index COM 72201R205   7,920,603 158,825 SH   SOLE   158,825 0 0
Pimco Enhanced Short Maturity COM 72201R833   1,881,749 19,075 SH   SOLE   19,075 0 0
Schwab US TIPS ETF COM 808524870   1,006,124 19,427 SH   SOLE   19,427 0 0
ASA (Bermuda) Limited COM G3156P103   565,317 39,505 SH   SOLE   39,505 0 0
Agnico Eagle Miners Limited COM 008474108   3,602,803 69,298 SH   SOLE   69,298 0 0
Alamos Gold Inc COM 011532108   648,051 64,100 SH   SOLE   64,100 0 0
AngloGold Ashanti Ltd. COM 035128206   229,739 11,830 SH   SOLE   11,830 0 0
BHP Billiton Ltd. COM 088606108   827,747 13,340 SH   SOLE   13,340 0 0
Barrick Gold Corporation COM 067901108   220,763 12,850 SH   SOLE   12,850 0 0
Franco-Nevada Corp. COM 351858105   4,138,483 30,323 SH   SOLE   30,323 0 0
Freeport McMoRan Inc. COM 35671D857   2,215,400 58,300 SH   SOLE   58,300 0 0
Hecla Mining COM 422704106   171,148 30,782 SH   SOLE   30,782 0 0
IAMGOLD Corporation COM 450913108   130,117 50,433 SH   SOLE   50,433 0 0
Kinross Gold Corporation COM 496902404   348,124 85,116 SH   SOLE   85,116 0 0
Market Vectors Gold Miners ETF COM 57060U100   298,064 10,400 SH   SOLE   10,400 0 0
Newcrest Mining Limited COM Q6651B114   165,939 11,795 SH   SOLE   11,795 0 0
Newmont Goldcorp (fmly.Newmo COM 651639106   5,820,374 123,313 SH   SOLE   123,313 0 0
Norilsk Nickel Mining & Metall COM 55315J102   0 31,900 SH   SOLE   31,900 0 0
NovaGold Resources Inc. COM 66987E206   142,922 23,900 SH   SOLE   23,900 0 0
Pan American Silver Corp. COM 697900108   1,781,567 109,031 SH   SOLE   109,031 0 0
Sprott Physical Gold & Silver COM 85208R101   4,312,653 240,527 SH   SOLE   240,527 0 0
Sprott Physical Gold Trust COM 85207H104   2,531,049 179,507 SH   SOLE   179,507 0 0
Sprott Physical Silver Trust COM 852075107   1,636,876 198,650 SH   SOLE   198,650 0 0
Vale S.A. COM 91912E105   884,137 52,100 SH   SOLE   52,100 0 0
Wheaton Precious Metals (Silve COM 828336107   2,540,825 65,016 SH   SOLE   65,016 0 0
Yamana Gold, Inc. COM 98462Y100   2,278,941 410,620 SH   SOLE   410,620 0 0