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 7,474 128,002 SH   SOLE   128,002 0 0
AGCO Corp COM 001084102 481 4,150 SH   SOLE   4,150 0 0
AT & T, Inc. New COM 00206r102 885 35,990 SH   SOLE   35,990 0 0
AbbVie, Inc. COM 00287y109 4,837 35,727 SH   SOLE   35,727 0 0
Abbott Laboratories COM 002824100 10,880 77,306 SH   SOLE   77,306 0 0
Adobe Systems Inc COM 00724F101 437 771 SH   SOLE   771 0 0
Alaska Air Group Inc. COM 011659109 518 9,945 SH   SOLE   9,945 0 0
Align Technology, Inc. COM 016255101 263 400 SH   SOLE   400 0 0
Alphabet, Inc Non-Voting Class COM 02079k107 639 221 SH   SOLE   221 0 0
Alphabet, Inc Voting Class COM 02079k305 12,350 4,263 SH   SOLE   4,263 0 0
Altria Group Inc. COM 02209s103 7,614 160,657 SH   SOLE   160,657 0 0
Amazon.com, Inc. COM 023135106 787 236 SH   SOLE   236 0 0
American Express Co. COM 025816109 1,358 8,298 SH   SOLE   8,298 0 0
American International Group COM 026874784 5,987 105,297 SH   SOLE   105,297 0 0
Ameriprise Financial Inc. COM 03076c106 1,369 4,538 SH   SOLE   4,538 0 0
Amgen Inc. COM 031162100 2,004 8,908 SH   SOLE   8,908 0 0
Anthem, Inc. COM 036752103 22,099 47,674 SH   SOLE   47,674 0 0
Apple, Inc. COM 037833100 6,688 37,665 SH   SOLE   37,665 0 0
Applied Materials Inc Delaware COM 038222105 202 1,283 SH   SOLE   1,283 0 0
Automatic Data Processing COM 053015103 1,995 8,092 SH   SOLE   8,092 0 0
Bank of America Corp COM 060505104 15,139 340,283 SH   SOLE   340,283 0 0
Bank of New York Mellon Corp COM 064058100 13,734 236,469 SH   SOLE   236,469 0 0
Becton Dickinson & Co COM 075887109 4,337 17,245 SH   SOLE   17,245 0 0
Berkshire Hathaway Inc. Class COM 084670702 7,715 25,803 SH   SOLE   25,803 0 0
Biogen Inc. COM 09062x103 5,712 23,810 SH   SOLE   23,810 0 0
Boeing Company COM 097023105 3,126 15,528 SH   SOLE   15,528 0 0
Booking Holdings Inc. COM 09857L108 5,221 2,176 SH   SOLE   2,176 0 0
Bristol Myers Squibb Co. COM 110122108 1,934 31,020 SH   SOLE   31,020 0 0
CSX Corp COM 126408103 307 8,166 SH   SOLE   8,166 0 0
CVS Health Corp. COM 126650100 11,269 109,234 SH   SOLE   109,234 0 0
Caterpillar Inc. COM 149123101 732 3,540 SH   SOLE   3,540 0 0
Celanese Corp COM 150870103 4,928 29,325 SH   SOLE   29,325 0 0
Central Pacific Financial Co COM 154760409 2,725 96,725 SH   SOLE   96,725 0 0
Cerner Corporation COM 156782104 6,904 74,345 SH   SOLE   74,345 0 0
Chevron Corp. COM 166764100 3,233 27,549 SH   SOLE   27,549 0 0
Cigna Corp COM 125523100 5,897 25,680 SH   SOLE   25,680 0 0
Cisco Sys Inc. COM 17275R102 3,241 51,151 SH   SOLE   51,151 0 0
Citigroup Inc. COM 172967424 4,608 76,305 SH   SOLE   76,305 0 0
Coca-Cola Company COM 191216100 6,275 105,971 SH   SOLE   105,971 0 0
Cognizant Technology Solutions COM 192446102 3,805 42,893 SH   SOLE   42,893 0 0
Comcast Corp Cl A COM 20030n101 4,950 98,357 SH   SOLE   98,357 0 0
ConAgra Foods Inc. COM 205887102 870 25,485 SH   SOLE   25,485 0 0
ConocoPhillips COM 20825c104 2,111 29,244 SH   SOLE   29,244 0 0
Corning Inc COM 219350105 6,222 167,126 SH   SOLE   167,126 0 0
Corteva, Inc. COM 22052L104 2,713 57,386 SH   SOLE   57,386 0 0
Costco Wholesale Corp COM 22160k105 5,237 9,226 SH   SOLE   9,226 0 0
DR Horton, Inc COM 23331a109 1,868 17,220 SH   SOLE   17,220 0 0
Delta Airlines - New COM 247361702 266 6,800 SH   SOLE   6,800 0 0
Digital Realty Trust COM 253868103 321 1,814 SH   SOLE   1,814 0 0
Discovery, Inc. Series A COM 25470f104 4,108 174,505 SH   SOLE   174,505 0 0
Dow Inc. COM 260557103 3,244 57,202 SH   SOLE   57,202 0 0
DuPont de Nemours, Inc COM 26614n102 4,105 50,812 SH   SOLE   50,812 0 0
Eli Lilly & Co COM 532457108 201 726 SH   SOLE   726 0 0
Exxon Mobil Corp COM 30231G102 795 12,986 SH   SOLE   12,986 0 0
Fastenal Co. COM 311900104 207 3,235 SH   SOLE   3,235 0 0
Fedex Corp COM 31428X106 3,684 14,245 SH   SOLE   14,245 0 0
Ford Motor Co.- New COM 345370860 265 12,782 SH   SOLE   12,782 0 0
Forrester Research Inc. COM 346563109 1,119 19,050 SH   SOLE   19,050 0 0
Fox Corporation Class A COM 35137L105 201 5,453 SH   SOLE   5,453 0 0
Franklin Resources Inc. COM 354613101 4,359 130,148 SH   SOLE   130,148 0 0
Gates Industrial Corporation P COM g39108108 1,759 110,549 SH   SOLE   110,549 0 0
General Electric Co. COM 369604103 228 2,415 SH   SOLE   2,415 0 0
General Mills COM 370334104 291 4,321 SH   SOLE   4,321 0 0
General Motors Company COM 37045v100 2,267 38,674 SH   SOLE   38,674 0 0
Gilead Sciences Inc. COM 375558103 977 13,458 SH   SOLE   13,458 0 0
Global Medical REIT, Inc. COM 37954a204 213 12,000 SH   SOLE   12,000 0 0
Grand Canyon Education, Inc. COM 38526m106 1,061 12,380 SH   SOLE   12,380 0 0
H&R Block Inc. COM 093671105 1,444 61,302 SH   SOLE   61,302 0 0
HP Inc. COM 40434L105 427 11,324 SH   SOLE   11,324 0 0
Hewlett Packard Enterprise Co. COM 42824c109 186 11,821 SH   SOLE   11,821 0 0
Home Depot Inc. COM 437076102 10,700 25,783 SH   SOLE   25,783 0 0
Illinois Tool Works Inc. COM 452308109 272 1,104 SH   SOLE   1,104 0 0
Ingersoll Rand Inc. COM 45687v106 375 6,055 SH   SOLE   6,055 0 0
Intel Corp. COM 458140100 1,400 27,181 SH   SOLE   27,181 0 0
International Flavors & Fragra COM 459506101 618 4,102 SH   SOLE   4,102 0 0
Interpublic Group COM 460690100 334 8,912 SH   SOLE   8,912 0 0
IsoRay, Inc. COM 46489v104 6 14,218 SH   SOLE   14,218 0 0
Johnson & Johnson COM 478160104 14,266 83,390 SH   SOLE   83,390 0 0
Keurig Dr. Pepper Inc. COM 49271v100 476 12,924 SH   SOLE   12,924 0 0
Kla-Tencor Corp COM 482480100 359 835 SH   SOLE   835 0 0
Kroger Co. COM 501044101 16,935 374,161 SH   SOLE   374,161 0 0
Laboratory Corp. of America COM 50540r409 377 1,200 SH   SOLE   1,200 0 0
Lamb Weston Holdings COM 513272104 528 8,334 SH   SOLE   8,334 0 0
Lincoln Educational COM 533535100 1,655 221,567 SH   SOLE   221,567 0 0
Lloyds TSB Group COM 539439109 42 16,500 SH   SOLE   16,500 0 0
Lockheed Martin Corp COM 539830109 540 1,520 SH   SOLE   1,520 0 0
Lowes Companies COM 548661107 8,783 33,980 SH   SOLE   33,980 0 0
Lumen Technologies, Inc. COM 550241103 370 29,500 SH   SOLE   29,500 0 0
Manitex Intl COM 563420108 1,172 184,281 SH   SOLE   184,281 0 0
ManpowerGroup Inc. COM 56418h100 401 4,115 SH   SOLE   4,115 0 0
Marsh & McLennan Co. COM 571748102 6,074 34,944 SH   SOLE   34,944 0 0
Mastercard Inc. COM 57636q104 16,827 46,830 SH   SOLE   46,830 0 0
McDonalds Corp COM 580135101 3,222 12,018 SH   SOLE   12,018 0 0
Merck & Co.Inc. New COM 58933y105 10,008 130,591 SH   SOLE   130,591 0 0
Meta Platforms, Inc. COM 30303m102 5,057 15,035 SH   SOLE   15,035 0 0
Microsoft Corp. COM 594918104 41,067 122,106 SH   SOLE   122,106 0 0
Molson Coors Brewing Co COM 60871r209 5,185 111,866 SH   SOLE   111,866 0 0
Mondelez International, Inc. COM 609207105 2,460 37,097 SH   SOLE   37,097 0 0
Monster Beverage Corp. COM 61174x109 3,438 35,800 SH   SOLE   35,800 0 0
NextEra Energy, Inc. COM 65339f101 211 2,262 SH   SOLE   2,262 0 0
Nike Inc Class B COM 654106103 2,581 15,485 SH   SOLE   15,485 0 0
Nucor Corp COM 670346105 305 2,675 SH   SOLE   2,675 0 0
Oracle Corp COM 68389X105 1,100 12,618 SH   SOLE   12,618 0 0
Organon & Co. COM 68622v106 1,472 48,351 SH   SOLE   48,351 0 0
Parker-Hannifin Corp. COM 701094104 269 845 SH   SOLE   845 0 0
PayPal Holdings, Inc. COM 70450y103 314 1,667 SH   SOLE   1,667 0 0
Paychex Inc. COM 704326107 5,760 42,195 SH   SOLE   42,195 0 0
Pepsico Inc. COM 713448108 14,857 85,529 SH   SOLE   85,529 0 0
Pfizer Inc. COM 717081103 4,439 75,173 SH   SOLE   75,173 0 0
Philip Morris International COM 718172109 19,421 204,427 SH   SOLE   204,427 0 0
Phillips 66 COM 718546104 1,331 18,362 SH   SOLE   18,362 0 0
Procter & Gamble Co. COM 742718109 3,631 22,195 SH   SOLE   22,195 0 0
Qualcomm Inc COM 747525103 556 3,042 SH   SOLE   3,042 0 0
Quest Diagnostics Inc. COM 74834L100 5,879 33,980 SH   SOLE   33,980 0 0
Raytheon Technologies COM 75513e101 2,721 31,616 SH   SOLE   31,616 0 0
SM Energy Company COM 78454L100 213 7,240 SH   SOLE   7,240 0 0
Sally Beauty Holdings Inc. COM 79546e104 1,465 79,336 SH   SOLE   79,336 0 0
Starbucks Corp COM 855244109 1,550 13,253 SH   SOLE   13,253 0 0
Stryker Corporation COM 863667101 202 755 SH   SOLE   755 0 0
Tapestry Inc. COM 876030107 343 8,455 SH   SOLE   8,455 0 0
The Kraft Heinz Company COM 500754106 430 11,979 SH   SOLE   11,979 0 0
The Mosaic Company COM 61945c103 2,514 63,981 SH   SOLE   63,981 0 0
The Travelers Companies Inc. COM 89417e109 9,123 58,323 SH   SOLE   58,323 0 0
The Walt Disney Co. COM 254687106 2,437 15,733 SH   SOLE   15,733 0 0
US Bancorp Delaware New COM 902973304 536 9,535 SH   SOLE   9,535 0 0
Union Pacific Corp COM 907818108 2,576 10,227 SH   SOLE   10,227 0 0
United Parcel Service Inc. COM 911312106 3,538 16,506 SH   SOLE   16,506 0 0
UnitedHealth Group Inc. COM 91324p102 43,508 86,645 SH   SOLE   86,645 0 0
Unum Group COM 91529y106 1,688 68,717 SH   SOLE   68,717 0 0
Valero Energy Corp. COM 91913y100 4,581 60,992 SH   SOLE   60,992 0 0
Value Line Inc. COM 920437100 203 4,339 SH   SOLE   4,339 0 0
Verizon Communications COM 92343V104 1,838 35,381 SH   SOLE   35,381 0 0
ViacomCBS Inc. B COM 92556h206 944 31,269 SH   SOLE   31,269 0 0
Viatris Inc. COM 92556v106 141 10,439 SH   SOLE   10,439 0 0
Visa, Inc. COM 92826c839 9,342 43,107 SH   SOLE   43,107 0 0
WW International, Inc. COM 98262p101 230 14,282 SH   SOLE   14,282 0 0
Wal Mart Stores COM 931142103 7,526 52,012 SH   SOLE   52,012 0 0
Washington Federal COM 938824109 1,512 45,300 SH   SOLE   45,300 0 0
Waste Management Inc. Del COM 94106L109 293 1,757 SH   SOLE   1,757 0 0
Wells Fargo & Co. COM 949746101 1,767 36,837 SH   SOLE   36,837 0 0
Western Union Company COM 959802109 473 26,517 SH   SOLE   26,517 0 0
Weyerhaeuser Co. COM 962166104 567 13,772 SH   SOLE   13,772 0 0
Yum! Brands, Inc. COM 988498101 1,629 11,730 SH   SOLE   11,730 0 0
Zimmer Biomet Holdings COM 98956p102 7,761 61,089 SH   SOLE   61,089 0 0
AON Plc FOR g0403h108 857 2,852 SH   SOLE   2,852 0 0
ASML Holding N.V. FOR n07059178 213 267 SH   SOLE   267 0 0
Alibaba Group Holding Limited FOR 01609w102 1,734 14,600 SH   SOLE   14,600 0 0
Alkermes PLC FOR g01767105 398 17,091 SH   SOLE   17,091 0 0
Allegion PLC FOR g0176j109 477 3,605 SH   SOLE   3,605 0 0
America Movil ADR FOR 02364W105 3,252 154,044 SH   SOLE   154,044 0 0
Arcos Dorados Hldgs. FOR g0457f107 2,368 406,236 SH   SOLE   406,236 0 0
BP p.l.c. FOR 055622104 5,389 202,364 SH   SOLE   202,364 0 0
British American Tobacco FOR 110448107 3,898 104,198 SH   SOLE   104,198 0 0
CAE Inc. FOR 124765108 781 30,935 SH   SOLE   30,935 0 0
Colliers International Group FOR 194693107 1,064 7,160 SH   SOLE   7,160 0 0
Credit Suisse Group ADR FOR 225401108 1,626 168,633 SH   SOLE   168,633 0 0
Diageo PLC ADR FOR 25243q205 2,633 11,959 SH   SOLE   11,959 0 0
Enbridge Inc. FOR 29250n105 205 5,257 SH   SOLE   5,257 0 0
FirstService Corp Voting Share FOR 33767e103 1,399 7,123 SH   SOLE   7,123 0 0
Glaxo SmithKline PLC FOR 37733W105 2,284 51,801 SH   SOLE   51,801 0 0
LyondellBasell Industries N.V. FOR n53745100 6,375 69,123 SH   SOLE   69,123 0 0
Medtronic PLC FOR g5960L103 14,570 140,837 SH   SOLE   140,837 0 0
Nokia Corp Sponsored ADR FOR 654902204 100 16,157 SH   SOLE   16,157 0 0
Royal Dutch Shell PLC A FOR 780259206 681 15,693 SH   SOLE   15,693 0 0
Taiwan Semiconductor Manufactu FOR 874039100 660 5,487 SH   SOLE   5,487 0 0
Telefonica S.A. ADR FOR 879382208 789 186,071 SH   SOLE   186,071 0 0
Textainer Group Holdings Limit FOR g8766e109 2,799 78,375 SH   SOLE   78,375 0 0
Toyota Motor Corp ADR FOR 892331307 295 1,590 SH   SOLE   1,590 0 0
Trane Technologies PLC FOR g8994e103 1,355 6,705 SH   SOLE   6,705 0 0
Unilever PCL ADR FOR 904767704 5,248 97,563 SH   SOLE   97,563 0 0
Yum China Holdings, Inc. FOR 98850p109 531 10,645 SH   SOLE   10,645 0 0