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
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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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Grupo Aeroportuario Del Centro ADR 400501102 996 28,837 SH   SOLE 0 4,401 0 24,436
Grupo Aeroportuario Del Pacifi ADR 400506101 1,149 13,928 SH   SOLE 0 2,153 0 11,775
Grupo Aeroportuario Del Surest ADR 40051E202 932 6,480 SH   SOLE 0 1,005 0 5,475
Activision Blizzard Inc COM 00507V109 3,338 92,427 SH   SOLE 0 14,277 0 78,150
Adobe Systems, Inc. COM 00724F101 11,847 115,075 SH   SOLE 0 45,975 0 69,100
Aflac Inc. COM 001055102 12,728 182,875 SH   SOLE 0 73,025 0 109,850
Agilent Technologies Inc. COM 00846U101 6,050 132,800 SH   SOLE 0 53,075 0 79,725
Akamai Technologies, Inc. COM 00971T101 1,890 28,338 SH   SOLE 0 4,388 0 23,950
Alliance Data Systems COM 018581108 13,413 58,700 SH   SOLE 0 23,425 0 35,275
Alphabet Inc. COM 02079K305 21,588 27,242 SH   SOLE 0 10,725 0 16,517
Amazon.com Inc. COM 023135106 13,416 17,891 SH   SOLE 0 7,096 0 10,795
Amerco COM 023586100 1,065 2,881 SH   SOLE 0 431 0 2,450
American Express COM 025816109 206 2,775 SH   SOLE 0 2,775 0 0
Amgen Inc COM 031162100 10,761 73,600 SH   SOLE 0 29,425 0 44,175
Anthem, Inc. COM 036752103 10,988 76,425 SH   SOLE 0 30,550 0 45,875
Apple Inc. COM 037833100 25,816 222,894 SH   SOLE 0 88,098 0 134,796
Baxter International COM 071813109 12,606 284,300 SH   SOLE 0 113,600 0 170,700
Becton Dickinson & Co. COM 075887109 11,574 69,912 SH   SOLE 0 27,937 0 41,975
BioMarin Pharmaceutical COM 09061G101 8,013 96,725 SH   SOLE 0 38,575 0 58,150
Blackhawk Network Holdings COM 09238E104 1,126 29,889 SH   SOLE 0 4,589 0 25,300
Boeing Co COM 097023105 13,437 86,309 SH   SOLE 0 34,509 0 51,800
CBS Corp. - Cl. B COM 124857202 12,902 202,800 SH   SOLE 0 80,950 0 121,850
CSRA Inc. COM 12650T104 1,977 62,086 SH   SOLE 0 9,586 0 52,500
Cabot Oil & Gas Corp. COM 127097103 3,084 132,037 SH   SOLE 0 20,412 0 111,625
Campbell Soup Co. COM 134429109 12,694 209,925 SH   SOLE 0 83,750 0 126,175
CarMax Inc. COM 143130102 7,294 113,275 SH   SOLE 0 45,225 0 68,050
Celanese Corp. COM 150870103 503 6,389 SH   SOLE 0 989 0 5,400
Celgene Corp. COM 151020104 12,834 110,875 SH   SOLE 0 44,250 0 66,625
Cigna Corp. COM 125509109 3,496 26,207 SH   SOLE 0 4,032 0 22,175
Citizens Financial Group Inc. COM 174610105 229 6,425 SH   SOLE 0 6,425 0 0
Coach Inc. COM 189754104 916 26,158 SH   SOLE 0 4,033 0 22,125
Coca-Cola Co. COM 191216100 6,175 148,950 SH   SOLE 0 59,450 0 89,500
Commercial Metals Co. COM 201723103 939 43,117 SH   SOLE 0 6,642 0 36,475
Constellation Brands, Inc. COM 21036P108 11,391 74,300 SH   SOLE 0 29,700 0 44,600
Deere & Company COM 244199105 6,157 59,750 SH   SOLE 0 23,900 0 35,850
Devon Energy Corp. COM 25179M103 202 4,425 SH   SOLE 0 4,425 0 0
Dish Network Corp. Cl. A COM 25470M109 14,138 244,050 SH   SOLE 0 97,475 0 146,575
Dow Chemical Company COM 260543103 14,417 251,950 SH   SOLE 0 100,725 0 151,225
Edgewell Personal Care Co. COM 28035Q102 3,773 51,686 SH   SOLE 0 7,986 0 43,700
FMC Corp. COM 302491303 1,939 34,275 SH   SOLE 0 5,300 0 28,975
Facebook, Inc. COM 30303M102 15,343 133,359 SH   SOLE 0 53,425 0 79,934
Fidelity National Info Srv COM 31620M106 11,580 153,100 SH   SOLE 0 61,175 0 91,925
FleetCor Technologies, Inc. COM 339041105 1,741 12,302 SH   SOLE 0 1,902 0 10,400
General Dynamics COM 369550108 3,326 19,266 SH   SOLE 0 2,966 0 16,300
General Electric Co. COM 369604103 12,518 396,127 SH   SOLE 0 158,125 0 238,002
Gray Television COM 389375106 2,600 239,601 SH   SOLE 0 36,851 0 202,750
Halliburton Company COM 406216101 250 4,625 SH   SOLE 0 4,625 0 0
Hanesbrands Inc COM 410345102 1,908 88,475 SH   SOLE 0 13,500 0 74,975
Harsco Corp COM 415864107 540 39,725 SH   SOLE 0 6,200 0 33,525
Hasbro Inc COM 418056107 1,957 25,154 SH   SOLE 0 3,879 0 21,275
Hershey Co. COM 427866108 2,101 20,318 SH   SOLE 0 3,143 0 17,175
Hilton Worldwide Holdings Inc. COM 43300A203 13,884 510,450 SH   SOLE 0 203,775 0 306,675
Home Depot Inc COM 437076102 13,871 103,454 SH   SOLE 0 41,329 0 62,125
Illumina, Inc. COM 452327109 1,054 8,233 SH   SOLE 0 1,283 0 6,950
Investors Bancorp COM 46146L101 1,004 71,977 SH   SOLE 0 11,127 0 60,850
J.C. Penney Company Inc, COM 708160106 1,936 232,947 SH   SOLE 0 35,997 0 196,950
Juniper Networks Inc. COM 48203R104 12,755 451,350 SH   SOLE 0 175,650 0 275,700
Kansas City Southern COM 485170302 12,621 148,750 SH   SOLE 0 54,175 0 94,575
Knowles Corp. COM 49926D109 1,452 86,875 SH   SOLE 0 13,375 0 73,500
Kroger Co. COM 501044101 2,012 58,299 SH   SOLE 0 8,999 0 49,300
Mallinckrodt plc COM G5785G107 1,548 31,075 SH   SOLE 0 4,750 0 26,325
MartketAxess COM 57060D108 428 2,913 SH   SOLE 0 438 0 2,475
Masco Corp. COM 574599106 11,899 376,300 SH   SOLE 0 150,200 0 226,100
Mastercard Incorporated COM 57636Q104 12,477 120,841 SH   SOLE 0 48,266 0 72,575
Mattel Inc. COM 577081102 1,788 64,891 SH   SOLE 0 10,016 0 54,875
Maxim Integrated Products COM 57772K101 1,848 47,904 SH   SOLE 0 7,379 0 40,525
McDonald's Corp. COM 580135101 12,817 105,300 SH   SOLE 0 41,925 0 63,375
Microsoft Corp. COM 594918104 25,115 404,160 SH   SOLE 0 159,350 0 244,810
Morgan Stanley COM 617446448 244 5,775 SH   SOLE 0 5,775 0 0
NXP Semiconductor COM N6596X109 1,375 14,030 SH   SOLE 0 2,155 0 11,875
Norwegian Cruise Line Holdings COM G66721104 1,497 35,203 SH   SOLE 0 5,428 0 29,775
PNC Financial Services COM 693475105 14,483 123,825 SH   SOLE 0 49,425 0 74,400
PayPal Holdings, Inc. COM 70450Y103 15,692 397,566 SH   SOLE 0 139,441 0 258,125
Perrigo Company COM G97822103 2,940 35,327 SH   SOLE 0 5,452 0 29,875
Pfizer Inc. COM 717081103 11,527 354,900 SH   SOLE 0 141,775 0 213,125
Proctor & Gamble Co. COM 742718109 10,481 124,650 SH   SOLE 0 49,800 0 74,850
Rite Aid Corp. COM 767754104 3,867 469,296 SH   SOLE 0 72,546 0 396,750
Ross Stores Inc. COM 778296103 13,198 201,192 SH   SOLE 0 79,392 0 121,800
Royal Caribbean Cruises Ltd COM V7780T103 1,698 20,694 SH   SOLE 0 3,194 0 17,500
SS&C Technologies COM 78467J100 959 33,548 SH   SOLE 0 5,173 0 28,375
Scripps Networks COM 811065101 8,166 114,417 SH   SOLE 0 38,192 0 76,225
Sealed Air COM 81211K100 1,863 41,089 SH   SOLE 0 6,339 0 34,750
Southwest Airlines COM 844741108 16,604 333,140 SH   SOLE 0 122,765 0 210,375
Southwestern Energy Co. COM 845467109 2,896 267,670 SH   SOLE 0 41,370 0 226,300
Splunk Inc. COM 848637104 5,100 99,700 SH   SOLE 0 39,825 0 59,875
State Street Corp. COM 857477103 200 2,575 SH   SOLE 0 2,575 0 0
Target Corp COM 87612E106 12,371 171,275 SH   SOLE 0 67,525 0 103,750
Tegna COM 87901J105 2,727 127,500 SH   SOLE 0 19,450 0 108,050
Tesoro Corp. COM 881609101 6,515 74,500 SH   SOLE 0 29,700 0 44,800
Texas Instruments, Inc. COM 882508104 12,803 175,450 SH   SOLE 0 70,075 0 105,375
Twitter, Inc. COM 90184L102 12,657 776,514 SH   SOLE 0 279,664 0 496,850
Verisk Analytics, Inc COM 92345Y106 1,960 24,150 SH   SOLE 0 3,700 0 20,450
W.R. Grace & Co. COM 38388F108 2,035 30,090 SH   SOLE 0 4,640 0 25,450
Walgreens Boots Alliance, Inc. COM 931427108 11,905 143,850 SH   SOLE 0 57,425 0 86,425
Zimmer Biomet Holdings COM 98956P102 3,915 37,934 SH   SOLE 0 5,859 0 32,075
Zoetis Inc. COM 98978V103 11,850 221,375 SH   SOLE 0 83,875 0 137,500
Extra Space Storage Inc. REIT 30225T102 989 12,802 SH   SOLE 0 1,977 0 10,825
Paramount Group, Inc. REIT 69924R108 968 60,532 SH   SOLE 0 9,332 0 51,200
Simon Property Group REIT 828806109 9,887 55,650 SH   SOLE 0 22,200 0 33,450
Taubman Centers Inc. REIT 876664103 1,967 26,607 SH   SOLE 0 4,107 0 22,500
Ventas, Inc. REIT 92276F100 10,380 166,025 SH   SOLE 0 66,375 0 99,650