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
AT&T Pfd PFD 00206R409 326 12,000 SH   SOLE   12,000 0 0
Bank of America Pfd PFD 06055H400 255 10,000 SH   SOLE   10,000 0 0
Public Storage Pfd PFD 74460w594 317 12,000 SH   SOLE   12,000 0 0
US Bancorp Pfd PFD 902973718 302 12,000 SH   SOLE   12,000 0 0
3M Company COM 88579y101 11,136 62,694 SH   SOLE   62,694 0 0
AbbVie Inc. COM 00287y109 13,782 101,791 SH   SOLE   101,791 0 0
Adobe Systems COM 00724F101 13,675 24,116 SH   SOLE   24,116 0 0
Allstate COM 020002101 13,279 112,871 SH   SOLE   112,871 0 0
Alphabet Inc. Class A COM 02079k305 27,539 9,506 SH   SOLE   9,506 0 0
Amazon.Com Inc. COM 023135106 23,447 7,032 SH   SOLE   7,032 0 0
Amgen COM 031162100 209 930 SH   SOLE   930 0 0
Apple Inc. COM 037833100 29,951 168,674 SH   SOLE   168,674 0 0
Applied Materials Inc. COM 038222105 15,233 96,804 SH   SOLE   96,804 0 0
Automatic Data Proc COM 053015103 15,507 62,889 SH   SOLE   62,889 0 0
Bank Of America Corp COM 060505104 16,067 361,157 SH   SOLE   361,157 0 0
Booking Holdings Inc. COM 09857L108 12,514 5,216 SH   SOLE   5,216 0 0
Bristol Myers Squibb COM 110122108 9,764 156,613 SH   SOLE   156,613 0 0
Broadcom Inc COM 11135F101 19,524 29,342 SH   SOLE   29,342 0 0
CVS Health Corp COM 126650100 16,084 155,917 SH   SOLE   155,917 0 0
Capital One Financial COM 14040h105 13,332 91,891 SH   SOLE   91,891 0 0
Caterpillar Inc Del COM 149123101 14,893 72,039 SH   SOLE   72,039 0 0
Cerner Corp. COM 156782104 656 7,065 SH   SOLE   7,065 0 0
Chevron Corp COM 166764100 10,336 88,084 SH   SOLE   88,084 0 0
Chubb Limited COM h1467j104 12,575 65,055 SH   SOLE   65,055 0 0
Cisco Systems COM 17275R102 16,445 259,512 SH   SOLE   259,512 0 0
Comcast Corp Class A COM 20030N101 12,730 252,944 SH   SOLE   252,944 0 0
Constellation Brands Inc-A COM 21036p108 10,853 43,245 SH   SOLE   43,245 0 0
Digital Realty Trust Inc. COM 253868103 807 4,565 SH   SOLE   4,565 0 0
Eaton Corp. COM G29183103 17,400 100,688 SH   SOLE   100,688 0 0
Eli Lilly & Co COM 532457108 968 3,505 SH   SOLE   3,505 0 0
Evercore Inc. COM 29977a105 12,365 91,020 SH   SOLE   91,020 0 0
Fiserv Inc. COM 337738108 12,457 120,025 SH   SOLE   120,025 0 0
Gilead Sciences Inc. COM 375558103 11,307 155,728 SH   SOLE   155,728 0 0
Healthpeak Properties Inc. COM 42250P103 16,711 463,040 SH   SOLE   463,040 0 0
Home Depot Inc. COM 437076102 21,727 52,353 SH   SOLE   52,353 0 0
Honeywell Inc. COM 438516106 13,734 65,871 SH   SOLE   65,871 0 0
Humana Inc. COM 444859102 533 1,150 SH   SOLE   1,150 0 0
Intel Corp. COM 458140100 9,741 189,155 SH   SOLE   189,155 0 0
International Paper COM 460146103 7,605 161,888 SH   SOLE   161,888 0 0
Ishares Trust GR Index Fund COM 464287648 336 1,148 SH   SOLE   1,148 0 0
J. P. Morgan COM 46625H100 15,728 99,325 SH   SOLE   99,325 0 0
J.M. Smucker Co. COM 832696405 770 5,670 SH   SOLE   5,670 0 0
Jabil Circuit, Inc. COM 466313103 16,382 232,873 SH   SOLE   232,873 0 0
Johnson & Johnson COM 478160104 11,529 67,396 SH   SOLE   67,396 0 0
Lam Research COM 512807108 19,982 27,785 SH   SOLE   27,785 0 0
Lowe's Companies Inc. COM 548661107 643 2,490 SH   SOLE   2,490 0 0
MDU Resources Group COM 552690109 16,307 528,763 SH   SOLE   528,763 0 0
Medtronic PLC COM G5960L103 11,112 107,422 SH   SOLE   107,422 0 0
Merck & Co. COM 58933y105 12,174 158,850 SH   SOLE   158,850 0 0
Meta Platforms Inc. COM 30303m102 17,433 51,830 SH   SOLE   51,830 0 0
Microsoft Corp. COM 594918104 26,110 77,635 SH   SOLE   77,635 0 0
NVR Inc. COM 62944T105 200 34 SH   SOLE   34 0 0
O'Reilly Automotive Inc. COM 67103H107 17,496 24,774 SH   SOLE   24,774 0 0
PNC Financial Services Group COM 693475105 14,024 69,941 SH   SOLE   69,941 0 0
Pepsico Inc. COM 713448108 12,951 74,561 SH   SOLE   74,561 0 0
Phillips 66 COM 718546104 7,586 104,698 SH   SOLE   104,698 0 0
Procter & Gamble COM 742718109 12,771 78,076 SH   SOLE   78,076 0 0
Seagate Technology Holdings COM G7997r103 15,689 138,867 SH   SOLE   138,867 0 0
Sherwin-Williams Co. COM 824348106 14,466 41,079 SH   SOLE   41,079 0 0
Standard & Poors Depository Re COM 78462F103 224 473 SH   SOLE   473 0 0
TJX Cos. Inc. COM 872540109 16,494 217,264 SH   SOLE   217,264 0 0
Thermo Fisher Scientific COM 883556102 18,193 27,266 SH   SOLE   27,266 0 0
Tyson Foods, Inc. COM 902494103 13,006 149,226 SH   SOLE   149,226 0 0
United Parcel Service COM 911312106 13,597 63,440 SH   SOLE   63,440 0 0
UnitedHealth Group Inc. COM 91324P102 18,076 35,998 SH   SOLE   35,998 0 0
Visa Inc. COM 92826c839 15,444 71,267 SH   SOLE   71,267 0 0
Wal Mart Stores COM 931142103 12,070 83,420 SH   SOLE   83,420 0 0
Walt Disney Co. COM 254687106 14,314 92,417 SH   SOLE   92,417 0 0
Zebra Technologies Corp COM 989207105 3,589 6,030 SH   SOLE   6,030 0 0