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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AFLAC Inc. COM 001055102   8,822,162 126,392 SH   SOLE   126,392 0 0
AGCO Corp COM 001084102   545,393 4,150 SH   SOLE   4,150 0 0
AT & T, Inc. New COM 00206r102   532,227 33,368 SH   SOLE   33,368 0 0
AbbVie, Inc. COM 00287y109   5,022,061 37,275 SH   SOLE   37,275 0 0
Abbott Laboratories COM 002824100   8,148,426 74,742 SH   SOLE   74,742 0 0
Adobe Systems Inc COM 00724F101   334,469 684 SH   SOLE   684 0 0
Alaska Air Group Inc. COM 011659109   514,251 9,670 SH   SOLE   9,670 0 0
Alphabet, Inc Non-Voting Class COM 02079k107   570,978 4,720 SH   SOLE   4,720 0 0
Alphabet, Inc Voting Class COM 02079k305   10,544,971 88,095 SH   SOLE   88,095 0 0
Altria Group Inc. COM 02209s103   7,240,344 159,831 SH   SOLE   159,831 0 0
Amazon.com, Inc. COM 023135106   689,604 5,290 SH   SOLE   5,290 0 0
American Express Co. COM 025816109   1,266,957 7,273 SH   SOLE   7,273 0 0
American International Group COM 026874784   6,055,049 105,232 SH   SOLE   105,232 0 0
Ameriprise Financial Inc. COM 03076c106   1,507,342 4,538 SH   SOLE   4,538 0 0
Amgen Inc. COM 031162100   2,088,764 9,408 SH   SOLE   9,408 0 0
Andersons Inc. COM 034164103   207,167 4,489 SH   SOLE   4,489 0 0
Apple, Inc. COM 037833100   5,925,008 30,546 SH   SOLE   30,546 0 0
Automatic Data Processing COM 053015103   1,704,471 7,755 SH   SOLE   7,755 0 0
Bank of America Corp COM 060505104   9,903,789 345,200 SH   SOLE   345,200 0 0
Bank of New York Mellon Corp COM 064058100   10,451,471 234,759 SH   SOLE   234,759 0 0
Becton Dickinson & Co COM 075887109   3,486,252 13,205 SH   SOLE   13,205 0 0
Berkshire Hathaway Inc. Class COM 084670702   8,657,990 25,390 SH   SOLE   25,390 0 0
Biogen Inc. COM 09062x103   6,205,457 21,785 SH   SOLE   21,785 0 0
Boeing Company COM 097023105   3,155,997 14,946 SH   SOLE   14,946 0 0
Booking Holdings Inc. COM 09857L108   5,848,915 2,166 SH   SOLE   2,166 0 0
Bristol Myers Squibb Co. COM 110122108   1,846,425 28,873 SH   SOLE   28,873 0 0
CSX Corp COM 126408103   258,001 7,566 SH   SOLE   7,566 0 0
CVS Health Corp. COM 126650100   8,237,239 119,156 SH   SOLE   119,156 0 0
Caterpillar Inc. COM 149123101   843,951 3,430 SH   SOLE   3,430 0 0
Celanese Corp COM 150870103   3,370,359 29,105 SH   SOLE   29,105 0 0
Central Pacific Financial Corp COM 154760409   1,376,981 87,650 SH   SOLE   87,650 0 0
Chevron Corp. COM 166764100   4,138,148 26,299 SH   SOLE   26,299 0 0
Cigna Corp COM 125523100   7,218,716 25,726 SH   SOLE   25,726 0 0
Cisco Sys Inc. COM 17275R102   2,530,396 48,906 SH   SOLE   48,906 0 0
Citigroup Inc. COM 172967424   3,400,514 73,860 SH   SOLE   73,860 0 0
Coca-Cola Company COM 191216100   5,982,125 99,338 SH   SOLE   99,338 0 0
Cognizant Technology Solutions COM 192446102   2,723,351 41,718 SH   SOLE   41,718 0 0
Comcast Corp Cl A COM 20030n101   4,032,469 97,051 SH   SOLE   97,051 0 0
ConAgra Foods Inc. COM 205887102   815,012 24,170 SH   SOLE   24,170 0 0
ConocoPhillips COM 20825c104   3,019,610 29,144 SH   SOLE   29,144 0 0
Corning Inc COM 219350105   5,770,247 164,676 SH   SOLE   164,676 0 0
Corteva, Inc. COM 22052L104   3,279,967 57,242 SH   SOLE   57,242 0 0
Costco Wholesale Corp COM 22160k105   4,835,657 8,982 SH   SOLE   8,982 0 0
DR Horton, Inc COM 23331a109   2,072,381 17,030 SH   SOLE   17,030 0 0
Deere & Co COM 244199105   247,166 610 SH   SOLE   610 0 0
Delta Airlines - New COM 247361702   318,518 6,700 SH   SOLE   6,700 0 0
Domino's Pizza Inc. COM 25754a201   539,184 1,600 SH   SOLE   1,600 0 0
Dow Inc. COM 260557103   3,043,330 57,141 SH   SOLE   57,141 0 0
DuPont de Nemours, Inc COM 26614n102   3,625,651 50,751 SH   SOLE   50,751 0 0
Elevance Health Inc. COM 036752103   20,598,617 46,363 SH   SOLE   46,363 0 0
Eli Lilly & Co COM 532457108   340,479 726 SH   SOLE   726 0 0
Equifax Inc. COM 294429105   235,300 1,000 SH   SOLE   1,000 0 0
Exxon Mobil Corp COM 30231G102   1,379,923 12,866 SH   SOLE   12,866 0 0
Fedex Corp COM 31428X106   3,437,237 13,865 SH   SOLE   13,865 0 0
Ford Motor Co.- New COM 345370860   222,139 14,682 SH   SOLE   14,682 0 0
Forrester Research Inc. COM 346563109   1,015,706 34,916 SH   SOLE   34,916 0 0
Franklin Resources Inc. COM 354613101   2,931,770 109,763 SH   SOLE   109,763 0 0
GBT Technologies Inc COM 361548308   30 150,000 SH   SOLE   150,000 0 0
Gates Industrial Corporation P COM g39108108   2,121,065 157,349 SH   SOLE   157,349 0 0
General Dynamics COM 369550108   400,179 1,860 SH   SOLE   1,860 0 0
General Electric Co. COM 369604103   272,208 2,478 SH   SOLE   2,478 0 0
General Motors Company COM 37045v100   1,487,413 38,574 SH   SOLE   38,574 0 0
Genuine Parts Co COM 372460105   218,307 1,290 SH   SOLE   1,290 0 0
Gilead Sciences Inc. COM 375558103   986,727 12,803 SH   SOLE   12,803 0 0
Global Medical REIT, Inc. COM 37954a204   109,560 12,000 SH   SOLE   12,000 0 0
Grand Canyon Education, Inc. COM 38526m106   1,491,901 14,455 SH   SOLE   14,455 0 0
H&R Block Inc. COM 093671105   1,712,917 53,747 SH   SOLE   53,747 0 0
HP Inc. COM 40434L105   367,722 11,974 SH   SOLE   11,974 0 0
Hewlett Packard Enterprise Co. COM 42824c109   218,753 13,021 SH   SOLE   13,021 0 0
Home Depot Inc. COM 437076102   8,040,374 25,883 SH   SOLE   25,883 0 0
Illinois Tool Works Inc. COM 452308109   276,177 1,104 SH   SOLE   1,104 0 0
Ingersoll Rand Inc. COM 45687v106   395,755 6,055 SH   SOLE   6,055 0 0
Intel Corp. COM 458140100   860,946 25,746 SH   SOLE   25,746 0 0
International Flavors & Fragra COM 459506101   328,309 4,125 SH   SOLE   4,125 0 0
Interpublic Group COM 460690100   339,967 8,812 SH   SOLE   8,812 0 0
Johnson & Johnson COM 478160104   13,120,108 79,266 SH   SOLE   79,266 0 0
Keurig Dr. Pepper Inc. COM 49271v100   1,237,010 39,559 SH   SOLE   39,559 0 0
KLA Corp COM 482480100   404,992 835 SH   SOLE   835 0 0
Kroger Co. COM 501044101   17,729,199 377,217 SH   SOLE   377,217 0 0
Laboratory Corp. of America COM 50540r409   235,297 975 SH   SOLE   975 0 0
Lamb Weston Holdings COM 513272104   466,812 4,061 SH   SOLE   4,061 0 0
Lincoln Educational COM 533535100   1,572,941 233,374 SH   SOLE   233,374 0 0
Lloyds TSB Group COM 539439109   25,300 11,500 SH   SOLE   11,500 0 0
Lockheed Martin Corp COM 539830109   699,778 1,520 SH   SOLE   1,520 0 0
Lowes Companies COM 548661107   9,199,081 40,758 SH   SOLE   40,758 0 0
Manitex Intl COM 563420108   942,186 175,781 SH   SOLE   175,781 0 0
ManpowerGroup Inc. COM 56418h100   324,746 4,090 SH   SOLE   4,090 0 0
Marsh & McLennan Co. COM 571748102   6,834,827 36,340 SH   SOLE   36,340 0 0
Mastercard Inc. COM 57636q104   15,767,397 40,090 SH   SOLE   40,090 0 0
McDonalds Corp COM 580135101   3,504,229 11,743 SH   SOLE   11,743 0 0
Merck & Co.Inc. New COM 58933y105   14,312,168 124,033 SH   SOLE   124,033 0 0
Meta Platforms, Inc. COM 30303m102   4,240,129 14,775 SH   SOLE   14,775 0 0
Microsoft Corp. COM 594918104   39,369,853 115,610 SH   SOLE   115,610 0 0
Molson Coors Brewing Co COM 60871r209   7,444,820 113,074 SH   SOLE   113,074 0 0
Mondelez International, Inc. COM 609207105   2,699,582 37,011 SH   SOLE   37,011 0 0
Monster Beverage Corp. COM 61174x109   4,112,704 71,600 SH   SOLE   71,600 0 0
Nike Inc Class B COM 654106103   1,642,306 14,880 SH   SOLE   14,880 0 0
Nucor Corp COM 670346105   319,269 1,947 SH   SOLE   1,947 0 0
Occidental Petroleum Corp COM 674599105   224,440 3,817 SH   SOLE   3,817 0 0
Oracle Corp COM 68389X105   1,556,387 13,069 SH   SOLE   13,069 0 0
Organon & Co. COM 68622v106   1,002,397 48,169 SH   SOLE   48,169 0 0
Paramount Global B COM 92556h206   388,681 24,430 SH   SOLE   24,430 0 0
Parker-Hannifin Corp. COM 701094104   879,540 2,255 SH   SOLE   2,255 0 0
Paychex Inc. COM 704326107   4,645,514 41,526 SH   SOLE   41,526 0 0
Pepsico Inc. COM 713448108   15,353,071 82,891 SH   SOLE   82,891 0 0
Perspective Therapeutics COM 46489v104   6,826 10,218 SH   SOLE   10,218 0 0
Pfizer Inc. COM 717081103   2,653,782 72,350 SH   SOLE   72,350 0 0
Philip Morris International COM 718172109   20,212,904 207,057 SH   SOLE   207,057 0 0
Phillips 66 COM 718546104   1,698,909 17,812 SH   SOLE   17,812 0 0
Procter & Gamble Co. COM 742718109   3,092,461 20,380 SH   SOLE   20,380 0 0
Qualcomm Inc COM 747525103   362,120 3,042 SH   SOLE   3,042 0 0
Quest Diagnostics Inc. COM 74834L100   4,001,040 28,465 SH   SOLE   28,465 0 0
Raytheon Technologies COM 75513e101   3,057,919 31,216 SH   SOLE   31,216 0 0
Sally Beauty Holdings Inc. COM 79546e104   961,892 77,886 SH   SOLE   77,886 0 0
Starbucks Corp COM 855244109   1,264,798 12,768 SH   SOLE   12,768 0 0
Stryker Corporation COM 863667101   230,343 755 SH   SOLE   755 0 0
Tapestry Inc. COM 876030107   339,404 7,930 SH   SOLE   7,930 0 0
The Kraft Heinz Company COM 500754106   409,705 11,541 SH   SOLE   11,541 0 0
The Mosaic Company COM 61945c103   2,217,738 63,364 SH   SOLE   63,364 0 0
The Travelers Companies Inc. COM 89417e109   8,626,560 49,675 SH   SOLE   49,675 0 0
The Walt Disney Co. COM 254687106   1,385,268 15,516 SH   SOLE   15,516 0 0
US Bancorp Delaware New COM 902973304   380,257 11,509 SH   SOLE   11,509 0 0
Union Pacific Corp COM 907818108   1,935,705 9,460 SH   SOLE   9,460 0 0
United Parcel Service Inc. COM 911312106   2,853,368 15,918 SH   SOLE   15,918 0 0
UnitedHealth Group Inc. COM 91324p102   38,184,058 79,444 SH   SOLE   79,444 0 0
Unum Group COM 91529y106   2,854,320 59,839 SH   SOLE   59,839 0 0
Valero Energy Corp. COM 91913y100   7,125,023 60,742 SH   SOLE   60,742 0 0
Verizon Communications COM 92343V104   1,282,534 34,486 SH   SOLE   34,486 0 0
Visa, Inc. COM 92826c839   10,089,813 42,487 SH   SOLE   42,487 0 0
WW International, Inc. COM 98262p101   78,469 11,677 SH   SOLE   11,677 0 0
Wal Mart Stores COM 931142103   8,061,133 51,286 SH   SOLE   51,286 0 0
Warner Bros. Discovery, Inc. COM 934423104   2,350,535 187,443 SH   SOLE   187,443 0 0
Washington Federal COM 938824109   1,134,154 42,766 SH   SOLE   42,766 0 0
Waste Management Inc. Del COM 94106L109   287,357 1,657 SH   SOLE   1,657 0 0
Wells Fargo & Co. COM 949746101   1,624,700 38,067 SH   SOLE   38,067 0 0
Western Union Company COM 959802109   291,268 24,831 SH   SOLE   24,831 0 0
Weyerhaeuser Co. COM 962166104   422,762 12,616 SH   SOLE   12,616 0 0
Yum! Brands, Inc. COM 988498101   1,618,264 11,680 SH   SOLE   11,680 0 0
Zimmer Biomet Holdings COM 98956p102   9,006,670 61,859 SH   SOLE   61,859 0 0
AON Plc FOR g0403h108   982,784 2,847 SH   SOLE   2,847 0 0
ASML Holding N.V. FOR n07059178   200,756 277 SH   SOLE   277 0 0
Alibaba Group Holding Limited FOR 01609w102   1,078,132 12,935 SH   SOLE   12,935 0 0
Alkermes PLC FOR g01767105   422,268 13,491 SH   SOLE   13,491 0 0
Allegion PLC FOR g0176j109   432,672 3,605 SH   SOLE   3,605 0 0
America Movil ADR FOR 02390a101   1,821,352 84,166 SH   SOLE   84,166 0 0
Arcos Dorados Hldgs. FOR g0457f107   3,319,883 323,891 SH   SOLE   323,891 0 0
BP p.l.c. FOR 055622104   7,104,548 201,319 SH   SOLE   201,319 0 0
British American Tobacco FOR 110448107   5,362,132 161,510 SH   SOLE   161,510 0 0
CAE Inc. FOR 124765108   692,325 30,935 SH   SOLE   30,935 0 0
Colliers International Group FOR 194693107   928,877 9,460 SH   SOLE   9,460 0 0
Diageo PLC ADR FOR 25243q205   2,061,636 11,884 SH   SOLE   11,884 0 0
Ferguson PLC FOR g3421j106   361,813 2,300 SH   SOLE   2,300 0 0
FirstService Corp Voting Share FOR 33767e202   1,059,061 6,873 SH   SOLE   6,873 0 0
Glaxo SmithKline ADS FOR 37733W204   1,264,365 35,476 SH   SOLE   35,476 0 0
Haleon PLC FOR 405552100   376,731 44,956 SH   SOLE   44,956 0 0
LyondellBasell Industries N.V. FOR n53745100   6,206,882 67,591 SH   SOLE   67,591 0 0
Medtronic PLC FOR g5960L103   12,983,033 147,367 SH   SOLE   147,367 0 0
Nokia Corp Sponsored ADR FOR 654902204   53,860 12,947 SH   SOLE   12,947 0 0
Shell PLC FOR 780259305   1,112,864 18,431 SH   SOLE   18,431 0 0
Taiwan Semiconductor Manufactu FOR 874039100   553,748 5,487 SH   SOLE   5,487 0 0
Telefonica S.A. ADR FOR 879382208   671,269 166,568 SH   SOLE   166,568 0 0
Textainer Group Holdings Limit FOR g8766e109   2,938,339 74,615 SH   SOLE   74,615 0 0
Toyota Motor Corp ADR FOR 892331307   255,592 1,590 SH   SOLE   1,590 0 0
Trane Technologies PLC FOR g8994e103   1,274,748 6,665 SH   SOLE   6,665 0 0
Unilever PCL ADR FOR 904767704   5,499,871 105,503 SH   SOLE   105,503 0 0
Yum China Holdings, Inc. FOR 98850p109   600,030 10,620 SH   SOLE   10,620 0 0