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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
2U Inc CS 90214j101   13 10,550 SH   SOLE   10,550 0 0
3M Corp. CS 88579Y101   374 3,420 SH   SOLE   3,420 0 0
AAR Corp. CS 000361105   1,070 17,150 SH   SOLE   17,150 0 0
ACM Research CS 00108j109   450 23,050 SH   SOLE   23,050 0 0
AMN Healthcare Services CS 001744101   396 5,290 SH   SOLE   5,290 0 0
AbbVie Inc. CS 00287y109   779 5,027 SH   SOLE   5,027 0 0
Abbott Labs CS 002824100   2,044 18,574 SH   SOLE   18,574 0 0
Accenture Ltd CS g1151c101   425 1,210 SH   SOLE   1,210 0 0
Advanced Micro Devices CS 007903107   2,569 17,425 SH   SOLE   17,425 0 0
Air Prod.& Chem. CS 009158106   2,205 8,055 SH   SOLE   8,055 0 0
Airbnb, Inc. CS 009066101   419 3,075 SH   SOLE   3,075 0 0
AllianceBernstein Holdings CS 01881G106   327 10,550 SH   SOLE   10,550 0 0
Allstate CS 020002101   280 2,000 SH   SOLE   2,000 0 0
Alphabet Inc Class A CS 02079k305   5,163 36,961 SH   SOLE   36,961 0 0
Alphabet Inc Class C CS 02079k107   1,620 11,494 SH   SOLE   11,494 0 0
Amazon, Inc. CS 023135106   1,350 8,888 SH   SOLE   8,888 0 0
Amgen CS 031162100   1,671 5,800 SH   SOLE   5,800 0 0
Analog Devices CS 032654105   1,638 8,250 SH   SOLE   8,250 0 0
Apple Computer CS 037833100   5,922 30,761 SH   SOLE   30,761 0 0
Applied Materials CS 038222105   896 5,530 SH   SOLE   5,530 0 0
Astrazeneca CS 046353108   428 6,350 SH   SOLE   6,350 0 0
Avnet CS 053807103   418 8,300 SH   SOLE   8,300 0 0
Ball CS 058498106   460 8,005 SH   SOLE   8,005 0 0
Berkshire Hathaway B CS 084670702   2,812 7,885 SH   SOLE   7,885 0 0
Blackrock CS 09247X101   345 425 SH   SOLE   425 0 0
Boeing CS 097023105   652 2,503 SH   SOLE   2,503 0 0
Bristol Myers Squibb CS 110122108   2,327 45,352 SH   SOLE   45,352 0 0
CSX Corp CS 126408103   4,058 117,047 SH   SOLE   117,047 0 0
Canadian Natl Rail CS 136375102   503 4,000 SH   SOLE   4,000 0 0
Canadian Pacific Kansas City L CS 13646k108   2,379 30,097 SH   SOLE   30,097 0 0
Carrier Global CS 14448c104   358 6,225 SH   SOLE   6,225 0 0
Charles Schwab CS 808513105   2,374 34,505 SH   SOLE   34,505 0 0
Chevron Corporation CS 166764100   634 4,250 SH   SOLE   4,250 0 0
Church and Dwight CS 171340102   5,484 58,000 SH   SOLE   58,000 0 0
Cisco Systems CS 17275R102   844 16,714 SH   SOLE   16,714 0 0
Citizens Financial Group CS 174610105   469 14,155 SH   SOLE   14,155 0 0
Coca-Cola CS 191216100   2,802 47,543 SH   SOLE   47,543 0 0
Colgate-Palmolive CS 194162103   661 8,288 SH   SOLE   8,288 0 0
Columbus McKinnon Corporation CS 199333105   907 23,255 SH   SOLE   23,255 0 0
Comcast Corp Cl A CS 20030n101   303 6,900 SH   SOLE   6,900 0 0
ConAgra Foods CS 205887102   469 16,350 SH   SOLE   16,350 0 0
ConocoPhillips CS 20825C104   1,054 9,085 SH   SOLE   9,085 0 0
Danaher CS 235851102   905 3,910 SH   SOLE   3,910 0 0
Darden Restaurants CS 237194105   261 1,591 SH   SOLE   1,591 0 0
Darling Ingredients Inc. CS 237266101   269 5,400 SH   SOLE   5,400 0 0
Devon Energy CS 25179M103   203 4,475 SH   SOLE   4,475 0 0
DexCom, Inc. CS 252131107   366 2,950 SH   SOLE   2,950 0 0
Dynatrace, Inc. CS 268150109   491 8,975 SH   SOLE   8,975 0 0
EOG Resources CS 26875p101   423 3,500 SH   SOLE   3,500 0 0
Elevance Health Inc. CS 036752103   896 1,900 SH   SOLE   1,900 0 0
Eli Lilly CS 532457108   1,594 2,735 SH   SOLE   2,735 0 0
Emerson Electric CS 291011104   462 4,750 SH   SOLE   4,750 0 0
Enbridge Inc CS 29250N105   221 6,125 SH   SOLE   6,125 0 0
EnerSys CS 29275Y102   1,252 12,400 SH   SOLE   12,400 0 0
Equinor ASA CS 29446M102   266 8,395 SH   SOLE   8,395 0 0
Estee Lauder CS 518439104   1,558 10,650 SH   SOLE   10,650 0 0
Exxon Mobil CS 30231G102   1,976 19,761 SH   SOLE   19,761 0 0
Fortinet CS 34959e109   672 11,475 SH   SOLE   11,475 0 0
GE HealthCare Technologies Inc CS 36266G107   1,597 20,653 SH   SOLE   20,653 0 0
GXO Logistics CS 36262g101   583 9,525 SH   SOLE   9,525 0 0
General Electric CS 369604301   377 2,953 SH   SOLE   2,953 0 0
General Mills CS 370334104   725 11,125 SH   SOLE   11,125 0 0
Gilead Sciences CS 375558103   448 5,525 SH   SOLE   5,525 0 0
GlaxoSmithKline ADS CS 37733W204   802 21,630 SH   SOLE   21,630 0 0
Honeywell Int'l. CS 438516106   3,243 15,465 SH   SOLE   15,465 0 0
Hyatt Hotels Corp CS 448579102   1,689 12,950 SH   SOLE   12,950 0 0
Idexx Laboratories CS 45168D104   988 1,780 SH   SOLE   1,780 0 0
Independent Bank CS 453836108   933 14,183 SH   SOLE   14,183 0 0
Ingersoll-Rand CS 45687V106   934 12,075 SH   SOLE   12,075 0 0
Installed Building Products In CS 45780r101   352 1,925 SH   SOLE   1,925 0 0
Int'l Bus. Mach. CS 459200101   1,328 8,119 SH   SOLE   8,119 0 0
Intuit Inc. CS 461202103   359 575 SH   SOLE   575 0 0
Invitation Homes Inc. CS 46187w107   1,231 36,094 SH   SOLE   36,094 0 0
Jacobs Solutions Inc. CS 46982l108   2,956 22,775 SH   SOLE   22,775 0 0
Johnson & Johnson CS 478160104   4,685 29,893 SH   SOLE   29,893 0 0
Kellanova CS 487836108   1,221 21,835 SH   SOLE   21,835 0 0
Keysight Technologies CS 49338l103   262 1,650 SH   SOLE   1,650 0 0
Kimberly Clark CS 494368103   2,637 21,704 SH   SOLE   21,704 0 0
L3Harris Technologies CS 502431109   1,162 5,515 SH   SOLE   5,515 0 0
Lam Research CS 512807108   862 1,100 SH   SOLE   1,100 0 0
Lennar CS 526057104   2,482 16,650 SH   SOLE   16,650 0 0
Live Nation Entertainment CS 538034109   583 6,225 SH   SOLE   6,225 0 0
Lockheed Martin CS 539830109   818 1,804 SH   SOLE   1,804 0 0
M.D.C. Holdings, Inc. CS 552676108   1,438 26,021 SH   SOLE   26,021 0 0
Martin Marietta Materials, Inc CS 573284106   499 1,000 SH   SOLE   1,000 0 0
Marvell Technologies CS 573874104   783 12,975 SH   SOLE   12,975 0 0
Masco Corp CS 574599106   700 10,450 SH   SOLE   10,450 0 0
McDonald's CS 580135101   1,314 4,432 SH   SOLE   4,432 0 0
Medtronic PLC CS g5960l103   1,486 18,034 SH   SOLE   18,034 0 0
Merck CS 58933y105   1,671 15,324 SH   SOLE   15,324 0 0
Meta Platforms Inc. CS 30303m102   389 1,100 SH   SOLE   1,100 0 0
Microchip Technology CS 595017104   780 8,650 SH   SOLE   8,650 0 0
Microsoft CS 594918104   5,189 13,798 SH   SOLE   13,798 0 0
MongoDB CS 60937p106   421 1,030 SH   SOLE   1,030 0 0
Morgan Stanley CS 617446448   1,916 20,542 SH   SOLE   20,542 0 0
Netflix CS 64110l106   1,190 2,445 SH   SOLE   2,445 0 0
Newmont Mining CS 651639106   266 6,425 SH   SOLE   6,425 0 0
NextEra Energy Inc. CS 65339f101   900 14,825 SH   SOLE   14,825 0 0
Nike Inc Class B CS 654106103   2,275 20,952 SH   SOLE   20,952 0 0
Northrop Grumman CS 666807102   364 777 SH   SOLE   777 0 0
Novartis AG ADS CS 66987V109   272 2,695 SH   SOLE   2,695 0 0
Nucor CS 670346105   901 5,175 SH   SOLE   5,175 0 0
ON Semiconductor CS 682189105   898 10,750 SH   SOLE   10,750 0 0
Oracle CS 68389X105   2,727 25,870 SH   SOLE   25,870 0 0
Organon CS 68622v106   267 18,521 SH   SOLE   18,521 0 0
PPG Industries CS 693506107   1,286 8,600 SH   SOLE   8,600 0 0
Parker Hannifin CS 701094104   1,055 2,290 SH   SOLE   2,290 0 0
Patrick Industries CS 703343103   620 6,175 SH   SOLE   6,175 0 0
PayPal CS 70450y103   654 10,655 SH   SOLE   10,655 0 0
Pentair CS g7s00t104   320 4,400 SH   SOLE   4,400 0 0
Pepsico CS 713448108   1,680 9,893 SH   SOLE   9,893 0 0
Pfizer CS 717081103   2,100 72,950 SH   SOLE   72,950 0 0
Procter & Gamble CS 742718109   1,355 9,246 SH   SOLE   9,246 0 0
Prudential Financial CS 744320102   1,228 11,839 SH   SOLE   11,839 0 0
Quanta Services CS 74762e102   2,650 12,281 SH   SOLE   12,281 0 0
Restaurant Brands Int'l CS 76131d103   1,283 16,424 SH   SOLE   16,424 0 0
Rexford Industrial Realty, Inc CS 76169C100   216 3,850 SH   SOLE   3,850 0 0
Roche Holdings Ltd CS 771195104   546 15,075 SH   SOLE   15,075 0 0
Rockwell Automation CS 773903109   331 1,065 SH   SOLE   1,065 0 0
Rollins CS 775711104   673 15,400 SH   SOLE   15,400 0 0
Schlumberger CS 806857108   249 4,792 SH   SOLE   4,792 0 0
Sherwin-Williams CS 824348106   382 1,225 SH   SOLE   1,225 0 0
Simon Property Group CS 828806109   1,501 10,525 SH   SOLE   10,525 0 0
Sonoco Products Company CS 835495102   559 10,010 SH   SOLE   10,010 0 0
Sony Group Corporation CS 835699307   563 5,950 SH   SOLE   5,950 0 0
Stanley Black & Decker CS 854502101   964 9,825 SH   SOLE   9,825 0 0
Starbucks CS 855244109   664 6,920 SH   SOLE   6,920 0 0
Stryker CS 863667101   1,403 4,685 SH   SOLE   4,685 0 0
Super Micro Computer CS 86800u104   533 1,875 SH   SOLE   1,875 0 0
Synopsys, Inc CS 871607107   283 550 SH   SOLE   550 0 0
Sysco Corp CS 871829107   1,926 26,334 SH   SOLE   26,334 0 0
Target CS 87612E106   1,321 9,275 SH   SOLE   9,275 0 0
Teradyne CS 880770102   1,959 18,050 SH   SOLE   18,050 0 0
Tesla, Inc. CS 88160R101   475 1,911 SH   SOLE   1,911 0 0
The FRS Company CS aci076053   0 114,324 SH   SOLE   114,324 0 0
Timken CS 887389104   978 12,200 SH   SOLE   12,200 0 0
TransDigm Group Incorporated CS 893641100   561 555 SH   SOLE   555 0 0
Trinity Industries CS 896522109   273 10,250 SH   SOLE   10,250 0 0
Truist Financial Corp CS 89832q109   1,267 34,312 SH   SOLE   34,312 0 0
UPS CS 911312106   3,295 20,959 SH   SOLE   20,959 0 0
Ulta Beauty CS 90384s303   355 725 SH   SOLE   725 0 0
Union Pacific CS 907818108   2,115 8,611 SH   SOLE   8,611 0 0
United Rentals, Inc. CS 911363109   3,876 6,760 SH   SOLE   6,760 0 0
United Therapeutics Corporatio CS 91307C102   1,767 8,035 SH   SOLE   8,035 0 0
UnitedHealth Group CS 91324P102   553 1,050 SH   SOLE   1,050 0 0
Veeva Systems Inc CS 922475108   501 2,600 SH   SOLE   2,600 0 0
Verizon Comm. CS 92343V104   623 16,524 SH   SOLE   16,524 0 0
Walmart Inc. CS 931142103   479 3,041 SH   SOLE   3,041 0 0
Walt Disney CS 254687106   1,382 15,302 SH   SOLE   15,302 0 0
Washington Trust CS 940610108   1,302 40,224 SH   SOLE   40,224 0 0
Waste Management Inc. CS 94106l109   1,151 6,425 SH   SOLE   6,425 0 0
Workday, Inc. CS 98138H101   772 2,795 SH   SOLE   2,795 0 0
Xylem Inc CS 98419m100   314 2,744 SH   SOLE   2,744 0 0
Yum Brands Inc. CS 988498101   1,731 13,251 SH   SOLE   13,251 0 0
Zoetis Inc CS 98978v103   4,652 23,568 SH   SOLE   23,568 0 0