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 7,194 128,002 SH   SOLE   128,002 0 0
AGCO Corp COM 001084102 399 4,150 SH   SOLE   4,150 0 0
AT & T, Inc. New COM 00206r102 530 34,559 SH   SOLE   34,559 0 0
AbbVie, Inc. COM 00287y109 4,749 35,388 SH   SOLE   35,388 0 0
Abbott Laboratories COM 002824100 7,290 75,338 SH   SOLE   75,338 0 0
Alaska Air Group Inc. COM 011659109 385 9,845 SH   SOLE   9,845 0 0
Alphabet, Inc Non-Voting Class COM 02079k107 444 4,620 SH   SOLE   4,620 0 0
Alphabet, Inc Voting Class COM 02079k305 8,176 85,480 SH   SOLE   85,480 0 0
Altria Group Inc. COM 02209s103 6,470 160,226 SH   SOLE   160,226 0 0
Amazon.com, Inc. COM 023135106 601 5,320 SH   SOLE   5,320 0 0
American Express Co. COM 025816109 983 7,288 SH   SOLE   7,288 0 0
American International Group COM 026874784 5,009 105,497 SH   SOLE   105,497 0 0
Ameriprise Financial Inc. COM 03076c106 1,143 4,538 SH   SOLE   4,538 0 0
Amgen Inc. COM 031162100 2,008 8,908 SH   SOLE   8,908 0 0
Apple, Inc. COM 037833100 4,362 31,563 SH   SOLE   31,563 0 0
Automatic Data Processing COM 053015103 1,819 8,042 SH   SOLE   8,042 0 0
Bank of America Corp COM 060505104 10,268 340,006 SH   SOLE   340,006 0 0
Bank of New York Mellon Corp COM 064058100 9,067 235,374 SH   SOLE   235,374 0 0
Becton Dickinson & Co COM 075887109 2,974 13,345 SH   SOLE   13,345 0 0
Berkshire Hathaway Inc. Class COM 084670702 6,808 25,498 SH   SOLE   25,498 0 0
Biogen Inc. COM 09062x103 6,328 23,700 SH   SOLE   23,700 0 0
Boeing Company COM 097023105 1,877 15,506 SH   SOLE   15,506 0 0
Booking Holdings Inc. COM 09857L108 3,566 2,170 SH   SOLE   2,170 0 0
Bristol Myers Squibb Co. COM 110122108 2,079 29,247 SH   SOLE   29,247 0 0
CSX Corp COM 126408103 202 7,566 SH   SOLE   7,566 0 0
CVS Health Corp. COM 126650100 10,338 108,401 SH   SOLE   108,401 0 0
Caterpillar Inc. COM 149123101 581 3,540 SH   SOLE   3,540 0 0
Celanese Corp COM 150870103 2,649 29,325 SH   SOLE   29,325 0 0
Central Pacific Financial Co COM 154760409 1,821 88,000 SH   SOLE   88,000 0 0
Chevron Corp. COM 166764100 3,609 25,119 SH   SOLE   25,119 0 0
Cigna Corp COM 125523100 7,120 25,661 SH   SOLE   25,661 0 0
Cisco Sys Inc. COM 17275R102 2,005 50,131 SH   SOLE   50,131 0 0
Citigroup Inc. COM 172967424 3,174 76,175 SH   SOLE   76,175 0 0
Coca-Cola Company COM 191216100 5,640 100,678 SH   SOLE   100,678 0 0
Cognizant Technology Solutions COM 192446102 2,406 41,893 SH   SOLE   41,893 0 0
Comcast Corp Cl A COM 20030n101 2,838 96,755 SH   SOLE   96,755 0 0
ConAgra Foods Inc. COM 205887102 831 25,460 SH   SOLE   25,460 0 0
ConocoPhillips COM 20825c104 2,991 29,224 SH   SOLE   29,224 0 0
Corning Inc COM 219350105 4,806 165,626 SH   SOLE   165,626 0 0
Corteva, Inc. COM 22052L104 3,278 57,353 SH   SOLE   57,353 0 0
Costco Wholesale Corp COM 22160k105 4,287 9,077 SH   SOLE   9,077 0 0
DR Horton, Inc COM 23331a109 1,160 17,220 SH   SOLE   17,220 0 0
Dow Inc. COM 260557103 2,512 57,186 SH   SOLE   57,186 0 0
DuPont de Nemours, Inc COM 26614n102 2,560 50,796 SH   SOLE   50,796 0 0
Elevance Health Inc. COM 036752103 21,154 46,569 SH   SOLE   46,569 0 0
Eli Lilly & Co COM 532457108 235 726 SH   SOLE   726 0 0
Exxon Mobil Corp COM 30231G102 1,123 12,866 SH   SOLE   12,866 0 0
Fedex Corp COM 31428X106 2,069 13,935 SH   SOLE   13,935 0 0
Ford Motor Co.- New COM 345370860 167 14,882 SH   SOLE   14,882 0 0
Forrester Research Inc. COM 346563109 686 19,050 SH   SOLE   19,050 0 0
Franklin Resources Inc. COM 354613101 2,791 129,673 SH   SOLE   129,673 0 0
Gates Industrial Corporation P COM g39108108 1,305 133,699 SH   SOLE   133,699 0 0
General Motors Company COM 37045v100 1,241 38,674 SH   SOLE   38,674 0 0
Gilead Sciences Inc. COM 375558103 817 13,238 SH   SOLE   13,238 0 0
Global Medical REIT, Inc. COM 37954a204 102 12,000 SH   SOLE   12,000 0 0
Grand Canyon Education, Inc. COM 38526m106 1,189 14,455 SH   SOLE   14,455 0 0
H&R Block Inc. COM 093671105 2,305 54,182 SH   SOLE   54,182 0 0
HP Inc. COM 40434L105 282 11,324 SH   SOLE   11,324 0 0
Hewlett Packard Enterprise Co. COM 42824c109 142 11,821 SH   SOLE   11,821 0 0
Home Depot Inc. COM 437076102 7,127 25,828 SH   SOLE   25,828 0 0
Ingersoll Rand Inc. COM 45687v106 262 6,055 SH   SOLE   6,055 0 0
Intel Corp. COM 458140100 673 26,111 SH   SOLE   26,111 0 0
International Flavors & Fragra COM 459506101 377 4,152 SH   SOLE   4,152 0 0
Interpublic Group COM 460690100 228 8,912 SH   SOLE   8,912 0 0
IsoRay, Inc. COM 46489v104 3 14,218 SH   SOLE   14,218 0 0
Johnson & Johnson COM 478160104 12,554 76,850 SH   SOLE   76,850 0 0
Keurig Dr. Pepper Inc. COM 49271v100 463 12,924 SH   SOLE   12,924 0 0
Kla-Tencor Corp COM 482480100 253 835 SH   SOLE   835 0 0
Kroger Co. COM 501044101 16,361 373,957 SH   SOLE   373,957 0 0
Laboratory Corp. of America COM 50540r409 245 1,195 SH   SOLE   1,195 0 0
Lamb Weston Holdings COM 513272104 645 8,334 SH   SOLE   8,334 0 0
Lincoln Educational COM 533535100 1,242 228,374 SH   SOLE   228,374 0 0
Lloyds TSB Group COM 539439109 30 16,500 SH   SOLE   16,500 0 0
Lockheed Martin Corp COM 539830109 587 1,520 SH   SOLE   1,520 0 0
Lowes Companies COM 548661107 6,644 35,378 SH   SOLE   35,378 0 0
Lumen Technologies, Inc. COM 550241103 208 28,550 SH   SOLE   28,550 0 0
Manitex Intl COM 563420108 1,047 182,681 SH   SOLE   182,681 0 0
ManpowerGroup Inc. COM 56418h100 266 4,115 SH   SOLE   4,115 0 0
Marsh & McLennan Co. COM 571748102 5,189 34,759 SH   SOLE   34,759 0 0
Mastercard Inc. COM 57636q104 13,316 46,830 SH   SOLE   46,830 0 0
McDonalds Corp COM 580135101 2,747 11,904 SH   SOLE   11,904 0 0
Merck & Co.Inc. New COM 58933y105 10,844 125,917 SH   SOLE   125,917 0 0
Meta Platforms, Inc. COM 30303m102 2,003 14,760 SH   SOLE   14,760 0 0
Microsoft Corp. COM 594918104 27,581 118,424 SH   SOLE   118,424 0 0
Molson Coors Brewing Co COM 60871r209 5,385 112,216 SH   SOLE   112,216 0 0
Mondelez International, Inc. COM 609207105 2,033 37,077 SH   SOLE   37,077 0 0
Monster Beverage Corp. COM 61174x109 3,113 35,800 SH   SOLE   35,800 0 0
Nike Inc Class B COM 654106103 1,283 15,440 SH   SOLE   15,440 0 0
Nucor Corp COM 670346105 210 1,960 SH   SOLE   1,960 0 0
Oracle Corp COM 68389X105 771 12,618 SH   SOLE   12,618 0 0
Organon & Co. COM 68622v106 1,135 48,510 SH   SOLE   48,510 0 0
Paramount Global B COM 92556h206 603 31,680 SH   SOLE   31,680 0 0
Parker-Hannifin Corp. COM 701094104 499 2,060 SH   SOLE   2,060 0 0
Paychex Inc. COM 704326107 4,723 42,091 SH   SOLE   42,091 0 0
Pepsico Inc. COM 713448108 13,756 84,259 SH   SOLE   84,259 0 0
Pfizer Inc. COM 717081103 2,970 67,866 SH   SOLE   67,866 0 0
Philip Morris International COM 718172109 16,943 204,112 SH   SOLE   204,112 0 0
Phillips 66 COM 718546104 1,438 17,812 SH   SOLE   17,812 0 0
Procter & Gamble Co. COM 742718109 2,647 20,970 SH   SOLE   20,970 0 0
Qualcomm Inc COM 747525103 344 3,042 SH   SOLE   3,042 0 0
Quest Diagnostics Inc. COM 74834L100 3,815 31,097 SH   SOLE   31,097 0 0
Raytheon Technologies COM 75513e101 2,547 31,116 SH   SOLE   31,116 0 0
SM Energy Company COM 78454L100 237 6,290 SH   SOLE   6,290 0 0
Sally Beauty Holdings Inc. COM 79546e104 998 79,236 SH   SOLE   79,236 0 0
Starbucks Corp COM 855244109 1,117 13,253 SH   SOLE   13,253 0 0
Tapestry Inc. COM 876030107 232 8,155 SH   SOLE   8,155 0 0
The Kraft Heinz Company COM 500754106 399 11,979 SH   SOLE   11,979 0 0
The Mosaic Company COM 61945c103 3,087 63,881 SH   SOLE   63,881 0 0
The Travelers Companies Inc. COM 89417e109 7,980 52,090 SH   SOLE   52,090 0 0
The Walt Disney Co. COM 254687106 1,498 15,878 SH   SOLE   15,878 0 0
US Bancorp Delaware New COM 902973304 384 9,535 SH   SOLE   9,535 0 0
Union Pacific Corp COM 907818108 1,888 9,693 SH   SOLE   9,693 0 0
United Parcel Service Inc. COM 911312106 2,602 16,110 SH   SOLE   16,110 0 0
UnitedHealth Group Inc. COM 91324p102 41,293 81,762 SH   SOLE   81,762 0 0
Unum Group COM 91529y106 2,651 68,317 SH   SOLE   68,317 0 0
Valero Energy Corp. COM 91913y100 6,512 60,947 SH   SOLE   60,947 0 0
Verizon Communications COM 92343V104 1,330 35,031 SH   SOLE   35,031 0 0
Viatris Inc. COM 92556v106 86 10,088 SH   SOLE   10,088 0 0
Visa, Inc. COM 92826c839 7,569 42,607 SH   SOLE   42,607 0 0
WW International, Inc. COM 98262p101 55 14,102 SH   SOLE   14,102 0 0
Wal Mart Stores COM 931142103 6,710 51,732 SH   SOLE   51,732 0 0
Warner Bros. Discovery, Inc. COM 934423104 2,196 190,983 SH   SOLE   190,983 0 0
Washington Federal COM 938824109 1,348 44,963 SH   SOLE   44,963 0 0
Waste Management Inc. Del COM 94106L109 281 1,757 SH   SOLE   1,757 0 0
Wells Fargo & Co. COM 949746101 1,471 36,567 SH   SOLE   36,567 0 0
Western Union Company COM 959802109 353 26,122 SH   SOLE   26,122 0 0
Weyerhaeuser Co. COM 962166104 376 13,172 SH   SOLE   13,172 0 0
Yum! Brands, Inc. COM 988498101 1,247 11,730 SH   SOLE   11,730 0 0
Zimmer Biomet Holdings COM 98956p102 6,486 62,034 SH   SOLE   62,034 0 0
AON Plc FOR g0403h108 764 2,852 SH   SOLE   2,852 0 0
Alibaba Group Holding Limited FOR 01609w102 1,159 14,495 SH   SOLE   14,495 0 0
Alkermes PLC FOR g01767105 329 14,741 SH   SOLE   14,741 0 0
Allegion PLC FOR g0176j109 323 3,605 SH   SOLE   3,605 0 0
America Movil ADR FOR 02364W105 1,852 112,431 SH   SOLE   112,431 0 0
Arcos Dorados Hldgs. FOR g0457f107 2,490 341,547 SH   SOLE   341,547 0 0
BP p.l.c. FOR 055622104 5,775 202,264 SH   SOLE   202,264 0 0
British American Tobacco FOR 110448107 3,737 105,260 SH   SOLE   105,260 0 0
CAE Inc. FOR 124765108 474 30,935 SH   SOLE   30,935 0 0
Colliers International Group FOR 194693107 656 7,160 SH   SOLE   7,160 0 0
Credit Suisse Group ADR FOR 225401108 313 79,903 SH   SOLE   79,903 0 0
Diageo PLC ADR FOR 25243q205 2,029 11,949 SH   SOLE   11,949 0 0
FirstService Corp Voting Share FOR 33767e103 848 7,123 SH   SOLE   7,123 0 0
Glaxo SmithKline ADS FOR 37733W204 1,044 35,461 SH   SOLE   35,461 0 0
Haleon PLC FOR 405552100 272 44,731 SH   SOLE   44,731 0 0
LyondellBasell Industries N.V. FOR n53745100 5,108 67,853 SH   SOLE   67,853 0 0
Medtronic PLC FOR g5960L103 11,556 143,107 SH   SOLE   143,107 0 0
Nokia Corp Sponsored ADR FOR 654902204 66 15,457 SH   SOLE   15,457 0 0
Shell PLC FOR 780259305 871 17,496 SH   SOLE   17,496 0 0
Taiwan Semiconductor Manufactu FOR 874039100 376 5,487 SH   SOLE   5,487 0 0
Telefonica S.A. ADR FOR 879382208 615 189,934 SH   SOLE   189,934 0 0
Textainer Group Holdings Limit FOR g8766e109 2,102 78,275 SH   SOLE   78,275 0 0
Toyota Motor Corp ADR FOR 892331307 207 1,590 SH   SOLE   1,590 0 0
Trane Technologies PLC FOR g8994e103 971 6,705 SH   SOLE   6,705 0 0
Unilever PCL ADR FOR 904767704 4,150 94,663 SH   SOLE   94,663 0 0
Yum China Holdings, Inc. FOR 98850p109 504 10,645 SH   SOLE   10,645 0 0