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
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AFLAC Inc. COM 001055102 6,673 128,002 SH   SOLE   128,002 0 0
AGCO Corp COM 001084102 508 4,150 SH   SOLE   4,150 0 0
AT & T, Inc. New COM 00206r102 991 36,679 SH   SOLE   36,679 0 0
AbbVie, Inc. COM 00287y109 3,867 35,853 SH   SOLE   35,853 0 0
Abbott Laboratories COM 002824100 9,635 81,562 SH   SOLE   81,562 0 0
Adobe Systems Inc COM 00724F101 444 771 SH   SOLE   771 0 0
Alaska Air Group Inc. COM 011659109 583 9,945 SH   SOLE   9,945 0 0
Align Technology, Inc. COM 016255101 266 400 SH   SOLE   400 0 0
Alphabet, Inc Non-Voting Class COM 02079k107 600 225 SH   SOLE   225 0 0
Alphabet, Inc Voting Class COM 02079k305 11,413 4,269 SH   SOLE   4,269 0 0
Altria Group Inc. COM 02209s103 7,309 160,561 SH   SOLE   160,561 0 0
Amazon.com, Inc. COM 023135106 742 226 SH   SOLE   226 0 0
American Express Co. COM 025816109 1,392 8,308 SH   SOLE   8,308 0 0
American International Group COM 026874784 5,780 105,302 SH   SOLE   105,302 0 0
Ameriprise Financial Inc. COM 03076c106 1,199 4,538 SH   SOLE   4,538 0 0
Amgen Inc. COM 031162100 1,851 8,704 SH   SOLE   8,704 0 0
Anthem, Inc. COM 036752103 17,833 47,836 SH   SOLE   47,836 0 0
Apple, Inc. COM 037833100 5,399 38,155 SH   SOLE   38,155 0 0
Automatic Data Processing COM 053015103 1,628 8,142 SH   SOLE   8,142 0 0
Bank of America Corp COM 060505104 14,507 341,747 SH   SOLE   341,747 0 0
Bank of New York Mellon Corp COM 064058100 12,276 236,799 SH   SOLE   236,799 0 0
Becton Dickinson & Co COM 075887109 4,239 17,245 SH   SOLE   17,245 0 0
Berkshire Hathaway Inc. Class COM 084670702 7,054 25,843 SH   SOLE   25,843 0 0
Biogen Inc. COM 09062x103 6,788 23,985 SH   SOLE   23,985 0 0
Boeing Company COM 097023105 3,422 15,558 SH   SOLE   15,558 0 0
Booking Holdings Inc. COM 09857L108 5,170 2,178 SH   SOLE   2,178 0 0
Bristol Myers Squibb Co. COM 110122108 1,835 31,019 SH   SOLE   31,019 0 0
CSX Corp COM 126408103 243 8,166 SH   SOLE   8,166 0 0
CVS Health Corp. COM 126650100 9,238 108,859 SH   SOLE   108,859 0 0
Caterpillar Inc. COM 149123101 680 3,540 SH   SOLE   3,540 0 0
Celanese Corp COM 150870103 4,418 29,325 SH   SOLE   29,325 0 0
Central Pacific Financial Co COM 154760409 2,492 97,025 SH   SOLE   97,025 0 0
Cerner Corporation COM 156782104 5,243 74,345 SH   SOLE   74,345 0 0
Charter Communications COM 16119p108 220 302 SH   SOLE   302 0 0
Chevron Corp. COM 166764100 2,795 27,549 SH   SOLE   27,549 0 0
Cigna Corp COM 125523100 5,010 25,030 SH   SOLE   25,030 0 0
Cisco Sys Inc. COM 17275R102 2,739 50,321 SH   SOLE   50,321 0 0
Citigroup Inc. COM 172967424 5,366 76,455 SH   SOLE   76,455 0 0
Coca-Cola Company COM 191216100 5,686 108,366 SH   SOLE   108,366 0 0
Cognizant Technology Solutions COM 192446102 3,183 42,893 SH   SOLE   42,893 0 0
Comcast Corp Cl A COM 20030n101 5,507 98,457 SH   SOLE   98,457 0 0
Compass Minerals Intl. COM 20451n101 238 3,695 SH   SOLE   3,695 0 0
ConAgra Foods Inc. COM 205887102 863 25,485 SH   SOLE   25,485 0 0
ConocoPhillips COM 20825c104 1,982 29,244 SH   SOLE   29,244 0 0
Corning Inc COM 219350105 6,111 167,476 SH   SOLE   167,476 0 0
Corteva, Inc. COM 22052L104 2,419 57,478 SH   SOLE   57,478 0 0
Costco Wholesale Corp COM 22160k105 4,223 9,398 SH   SOLE   9,398 0 0
DR Horton, Inc COM 23331a109 1,446 17,220 SH   SOLE   17,220 0 0
Delta Airlines - New COM 247361702 290 6,800 SH   SOLE   6,800 0 0
Digital Realty Trust COM 253868103 264 1,829 SH   SOLE   1,829 0 0
Discovery, Inc. Series A COM 25470f104 4,434 174,705 SH   SOLE   174,705 0 0
Dow Inc. COM 260557103 3,289 57,144 SH   SOLE   57,144 0 0
DuPont de Nemours, Inc COM 26614n102 3,467 50,988 SH   SOLE   50,988 0 0
Exxon Mobil Corp COM 30231G102 795 13,511 SH   SOLE   13,511 0 0
Facebook, Inc. COM 30303m102 5,086 14,985 SH   SOLE   14,985 0 0
Fedex Corp COM 31428X106 3,124 14,245 SH   SOLE   14,245 0 0
Ford Motor Co.- New COM 345370860 177 12,482 SH   SOLE   12,482 0 0
Forrester Research Inc. COM 346563109 938 19,050 SH   SOLE   19,050 0 0
Fox Corporation Class A COM 35137L105 219 5,453 SH   SOLE   5,453 0 0
Franklin Resources Inc. COM 354613101 3,869 130,178 SH   SOLE   130,178 0 0
GAMCO Investors Inc. COM 361438104 208 7,900 SH   SOLE   7,900 0 0
Gates Industrial Corporation P COM g39108108 1,170 71,904 SH   SOLE   71,904 0 0
General Electric Co. COM 369604103 285 2,765 SH   SOLE   2,765 0 0
General Mills COM 370334104 258 4,321 SH   SOLE   4,321 0 0
General Motors Company COM 37045v100 2,039 38,674 SH   SOLE   38,674 0 0
Gilead Sciences Inc. COM 375558103 974 13,948 SH   SOLE   13,948 0 0
Global Medical REIT, Inc. COM 37954a204 176 12,000 SH   SOLE   12,000 0 0
Grand Canyon Education, Inc. COM 38526m106 745 8,475 SH   SOLE   8,475 0 0
H&R Block Inc. COM 093671105 1,540 61,602 SH   SOLE   61,602 0 0
HP Inc. COM 40434L105 310 11,324 SH   SOLE   11,324 0 0
Hewlett Packard Enterprise Co. COM 42824c109 168 11,821 SH   SOLE   11,821 0 0
Home Depot Inc. COM 437076102 8,513 25,933 SH   SOLE   25,933 0 0
Illinois Tool Works Inc. COM 452308109 228 1,104 SH   SOLE   1,104 0 0
Ingersoll Rand Inc. COM 45687v106 305 6,055 SH   SOLE   6,055 0 0
Intel Corp. COM 458140100 1,454 27,281 SH   SOLE   27,281 0 0
International Flavors & Fragra COM 459506101 549 4,102 SH   SOLE   4,102 0 0
Interpublic Group COM 460690100 332 9,067 SH   SOLE   9,067 0 0
IsoRay, Inc. COM 46489v104 9 14,218 SH   SOLE   14,218 0 0
Johnson & Johnson COM 478160104 13,824 85,595 SH   SOLE   85,595 0 0
Keurig Dr. Pepper Inc. COM 49271v100 449 13,149 SH   SOLE   13,149 0 0
Kla-Tencor Corp COM 482480100 263 785 SH   SOLE   785 0 0
Kroger Co. COM 501044101 15,147 374,653 SH   SOLE   374,653 0 0
Laboratory Corp. of America COM 50540r409 338 1,200 SH   SOLE   1,200 0 0
Lamb Weston Holdings COM 513272104 519 8,455 SH   SOLE   8,455 0 0
Lincoln Educational COM 533535100 1,482 221,567 SH   SOLE   221,567 0 0
Lloyds TSB Group COM 539439109 40 16,500 SH   SOLE   16,500 0 0
Lockheed Martin Corp COM 539830109 523 1,515 SH   SOLE   1,515 0 0
Lowes Companies COM 548661107 6,921 34,115 SH   SOLE   34,115 0 0
Lumen Technologies, Inc. COM 550241103 431 34,750 SH   SOLE   34,750 0 0
Manitex Intl COM 563420108 1,323 184,281 SH   SOLE   184,281 0 0
ManpowerGroup Inc. COM 56418h100 446 4,115 SH   SOLE   4,115 0 0
Marsh & McLennan Co. COM 571748102 5,327 35,177 SH   SOLE   35,177 0 0
Mastercard Inc. COM 57636q104 16,282 46,830 SH   SOLE   46,830 0 0
McDonalds Corp COM 580135101 2,895 12,006 SH   SOLE   12,006 0 0
Merck & Co.Inc. New COM 58933y105 9,824 130,792 SH   SOLE   130,792 0 0
Microsoft Corp. COM 594918104 34,682 123,020 SH   SOLE   123,020 0 0
Molson Coors Brewing Co COM 60871r209 5,225 112,651 SH   SOLE   112,651 0 0
Mondelez International, Inc. COM 609207105 2,158 37,097 SH   SOLE   37,097 0 0
Monster Beverage Corp. COM 61174x109 3,180 35,800 SH   SOLE   35,800 0 0
Nike Inc Class B COM 654106103 2,249 15,485 SH   SOLE   15,485 0 0
Nucor Corp COM 670346105 266 2,700 SH   SOLE   2,700 0 0
Oracle Corp COM 68389X105 1,099 12,618 SH   SOLE   12,618 0 0
Organon & Co. COM 68622v106 689 21,000 SH   SOLE   21,000 0 0
Parker-Hannifin Corp. COM 701094104 236 845 SH   SOLE   845 0 0
PayPal Holdings, Inc. COM 70450y103 408 1,567 SH   SOLE   1,567 0 0
Paychex Inc. COM 704326107 4,762 42,345 SH   SOLE   42,345 0 0
Pepsico Inc. COM 713448108 12,891 85,708 SH   SOLE   85,708 0 0
Pfizer Inc. COM 717081103 3,259 75,771 SH   SOLE   75,771 0 0
Philip Morris International COM 718172109 19,393 204,590 SH   SOLE   204,590 0 0
Phillips 66 COM 718546104 1,289 18,412 SH   SOLE   18,412 0 0
Procter & Gamble Co. COM 742718109 3,239 23,170 SH   SOLE   23,170 0 0
Qualcomm Inc COM 747525103 401 3,110 SH   SOLE   3,110 0 0
Quest Diagnostics Inc. COM 74834L100 5,199 35,780 SH   SOLE   35,780 0 0
Raytheon Technologies COM 75513e101 2,718 31,616 SH   SOLE   31,616 0 0
Sally Beauty Holdings Inc. COM 79546e104 1,337 79,336 SH   SOLE   79,336 0 0
Starbucks Corp COM 855244109 1,462 13,253 SH   SOLE   13,253 0 0
Tapestry Inc. COM 876030107 313 8,455 SH   SOLE   8,455 0 0
The Kraft Heinz Company COM 500754106 441 11,979 SH   SOLE   11,979 0 0
The Mosaic Company COM 61945c103 2,289 64,081 SH   SOLE   64,081 0 0
The Travelers Companies Inc. COM 89417e109 9,080 59,734 SH   SOLE   59,734 0 0
The Walt Disney Co. COM 254687106 2,679 15,837 SH   SOLE   15,837 0 0
US Bancorp Delaware New COM 902973304 567 9,535 SH   SOLE   9,535 0 0
Union Pacific Corp COM 907818108 2,009 10,252 SH   SOLE   10,252 0 0
United Parcel Service Inc. COM 911312106 3,006 16,506 SH   SOLE   16,506 0 0
UnitedHealth Group Inc. COM 91324p102 33,930 86,834 SH   SOLE   86,834 0 0
Unum Group COM 91529y106 1,727 68,932 SH   SOLE   68,932 0 0
Valero Energy Corp. COM 91913y100 4,326 61,307 SH   SOLE   61,307 0 0
Verizon Communications COM 92343V104 1,922 35,581 SH   SOLE   35,581 0 0
ViacomCBS Inc. B COM 92556h206 1,133 28,677 SH   SOLE   28,677 0 0
Viatris Inc. COM 92556v106 143 10,519 SH   SOLE   10,519 0 0
Visa, Inc. COM 92826c839 9,602 43,107 SH   SOLE   43,107 0 0
WW International, Inc. COM 98262p101 262 14,332 SH   SOLE   14,332 0 0
Wal Mart Stores COM 931142103 7,292 52,317 SH   SOLE   52,317 0 0
Washington Federal COM 938824109 1,554 45,300 SH   SOLE   45,300 0 0
Waste Management Inc. Del COM 94106L109 266 1,782 SH   SOLE   1,782 0 0
Wells Fargo & Co. COM 949746101 1,710 36,841 SH   SOLE   36,841 0 0
Western Union Company COM 959802109 538 26,614 SH   SOLE   26,614 0 0
Weyerhaeuser Co. COM 962166104 490 13,772 SH   SOLE   13,772 0 0
Yum! Brands, Inc. COM 988498101 1,459 11,930 SH   SOLE   11,930 0 0
Zimmer Biomet Holdings COM 98956p102 8,963 61,239 SH   SOLE   61,239 0 0
AON Plc FOR g0403h108 844 2,952 SH   SOLE   2,952 0 0
Alibaba Group Holding Limited FOR 01609w102 2,158 14,575 SH   SOLE   14,575 0 0
Alkermes PLC FOR g01767105 599 19,416 SH   SOLE   19,416 0 0
Allegion PLC FOR g0176j109 477 3,605 SH   SOLE   3,605 0 0
America Movil ADR FOR 02364W105 2,831 160,204 SH   SOLE   160,204 0 0
Arcos Dorados Hldgs. FOR g0457f107 2,080 406,236 SH   SOLE   406,236 0 0
BP p.l.c. FOR 055622104 5,539 202,664 SH   SOLE   202,664 0 0
British American Tobacco FOR 110448107 3,581 101,498 SH   SOLE   101,498 0 0
CAE Inc. FOR 124765108 924 30,935 SH   SOLE   30,935 0 0
Colliers International Group FOR 194693107 914 7,160 SH   SOLE   7,160 0 0
Credit Suisse Group ADR FOR 225401108 1,959 198,633 SH   SOLE   198,633 0 0
Diageo PLC ADR FOR 25243q205 2,308 11,959 SH   SOLE   11,959 0 0
Enbridge Inc. FOR 29250n105 212 5,330 SH   SOLE   5,330 0 0
FirstService Corp Voting Share FOR 33767e103 1,286 7,123 SH   SOLE   7,123 0 0
Glaxo SmithKline PLC FOR 37733W105 1,984 51,936 SH   SOLE   51,936 0 0
LyondellBasell Industries N.V. FOR n53745100 6,497 69,223 SH   SOLE   69,223 0 0
Medtronic PLC FOR g5960L103 17,677 141,022 SH   SOLE   141,022 0 0
Nokia Corp Sponsored ADR FOR 654902204 88 16,157 SH   SOLE   16,157 0 0
Royal Dutch Shell PLC A FOR 780259206 699 15,693 SH   SOLE   15,693 0 0
Taiwan Semiconductor Manufactu FOR 874039100 613 5,487 SH   SOLE   5,487 0 0
Telefonica S.A. ADR FOR 879382208 1,095 232,401 SH   SOLE   232,401 0 0
Textainer Group Holdings Limit FOR g8766e109 2,768 79,300 SH   SOLE   79,300 0 0
Toyota Motor Corp ADR FOR 892331307 283 1,590 SH   SOLE   1,590 0 0
Trane Technologies PLC FOR g8994e103 1,158 6,705 SH   SOLE   6,705 0 0
Unilever PCL ADR FOR 904767704 5,262 97,053 SH   SOLE   97,053 0 0
Yum China Holdings, Inc. FOR 98850p109 633 10,895 SH   SOLE   10,895 0 0