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
AETNA Inc. COM 00817y108 575 5,315 SH   SOLE   5,315 0 0
AFLAC Inc. COM 001055102 4,206 70,220 SH   SOLE   70,220 0 0
AGCO Corp COM 001084102 999 22,005 SH   SOLE   22,005 0 0
AT & T, Inc. New COM 00206r102 2,680 77,892 SH   SOLE   77,892 0 0
AbbVie, Inc. COM 00287y109 1,201 20,272 SH   SOLE   20,272 0 0
Abbott Laboratories COM 002824100 3,544 78,922 SH   SOLE   78,922 0 0
Alkermes PLC COM g01767105 2,131 26,851 SH   SOLE   26,851 0 0
Allegion PLC COM 0176j1097 253 3,835 SH   SOLE   3,835 0 0
Alliance One International COM 018772103 397 34,587 SH   SOLE   34,587 0 0
Allstate Corp COM 020002101 1,488 23,965 SH   SOLE   23,965 0 0
Alphabet, Inc Voting Class COM 02076k305 401 515 SH   SOLE   515 0 0
Altria Group Inc. COM 02209s103 8,536 146,650 SH   SOLE   146,650 0 0
America Movil ADR COM 02364W105 6,312 448,919 SH   SOLE   448,919 0 0
American Express Co. COM 025816109 558 8,018 SH   SOLE   8,018 0 0
American International Group COM 026874107 2,755 44,464 SH   SOLE   44,464 0 0
Ameriprise Financial Inc. COM 03076c106 266 2,498 SH   SOLE   2,498 0 0
Anthem, Inc. COM 036752103 7,843 56,244 SH   SOLE   56,244 0 0
Apache Corp COM 037411105 423 9,501 SH   SOLE   9,501 0 0
Apollo Education Group, Inc. COM 037604105 1,004 130,929 SH   SOLE   130,929 0 0
Apple Computer Inc. COM 037833100 744 7,070 SH   SOLE   7,070 0 0
Automatic Data Processing COM 053015103 1,055 12,452 SH   SOLE   12,452 0 0
BP p.l.c. COM 055622104 6,868 219,702 SH   SOLE   219,702 0 0
Bank of America Corp COM 060505104 6,145 365,119 SH   SOLE   365,119 0 0
Bank of New York Mellon Corp COM 064058100 13,078 317,279 SH   SOLE   317,279 0 0
Baxalta, Inc. COM 07177m103 934 23,931 SH   SOLE   23,931 0 0
Baxter International Inc. COM 071813109 795 20,831 SH   SOLE   20,831 0 0
Becton Dickinson & Co COM 075887109 4,041 26,225 SH   SOLE   26,225 0 0
Berkshire Hathaway Inc. Class COM 084670207 2,866 21,705 SH   SOLE   21,705 0 0
Biogen Inc. COM 09062x103 2,204 7,195 SH   SOLE   7,195 0 0
Boeing Company COM 097023105 1,872 12,947 SH   SOLE   12,947 0 0
Bristol Myers Squibb Co. COM 110122108 340 4,943 SH   SOLE   4,943 0 0
British American Tobacco COM 110448107 2,237 20,250 SH   SOLE   20,250 0 0
CDK Global, Inc. COM 12508e101 204 4,288 SH   SOLE   4,288 0 0
CST Brands, Inc. COM 12646r105 1,695 43,312 SH   SOLE   43,312 0 0
CVS Health Corp. COM 126650100 5,133 52,499 SH   SOLE   52,499 0 0
Central Pacific Financial Co COM 154760409 2,311 104,947 SH   SOLE   104,947 0 0
Chevron Corp. COM 166764100 3,296 36,643 SH   SOLE   36,643 0 0
Cisco Sys Inc. COM 17275R102 1,436 52,895 SH   SOLE   52,895 0 0
Citigroup Inc. COM 172967424 3,864 74,659 SH   SOLE   74,659 0 0
Coach Inc. COM 189754104 518 15,820 SH   SOLE   15,820 0 0
Coca-Cola Company COM 191216100 5,796 134,924 SH   SOLE   134,924 0 0
Colliers International Group COM 194693107 332 7,460 SH   SOLE   7,460 0 0
Comcast Corp Cl A COM 20030n101 3,787 67,105 SH   SOLE   67,105 0 0
Community Health Systems, Inc. COM 203668108 967 36,436 SH   SOLE   36,436 0 0
ConAgra Foods Inc. COM 205887102 4,612 109,385 SH   SOLE   109,385 0 0
ConocoPhillips COM 20825c104 1,617 34,641 SH   SOLE   34,641 0 0
Corning Inc COM 219350105 6,223 340,451 SH   SOLE   340,451 0 0
Costco Wholesale Corp COM 22160k105 1,849 11,450 SH   SOLE   11,450 0 0
Credit Suisse Group ADR COM 225401108 4,466 205,918 SH   SOLE   205,918 0 0
Daimler A G COM d1668r123 206 2,459 SH   SOLE   2,459 0 0
Diageo PLC ADR COM 25243q205 1,993 18,274 SH   SOLE   18,274 0 0
Discovery Communications Serie COM 25470f104 5,032 188,611 SH   SOLE   188,611 0 0
Discovery Communications Serie COM 25470F302 217 8,598 SH   SOLE   8,598 0 0
Dow Chemical Company COM 260543103 4,924 95,652 SH   SOLE   95,652 0 0
Dr. Pepper Snapple Group COM 26138e109 7,059 75,737 SH   SOLE   75,737 0 0
E. I. Du Pont De Nemours COM 263534109 4,456 66,900 SH   SOLE   66,900 0 0
Express Scripts Inc. COM 30219g108 6,468 73,997 SH   SOLE   73,997 0 0
Exxon Mobil Corp COM 30231G102 1,273 16,334 SH   SOLE   16,334 0 0
Fastenal Co. COM 311900104 208 5,100 SH   SOLE   5,100 0 0
FirstService Corp Voting Share COM 33767e103 302 7,460 SH   SOLE   7,460 0 0
Franklin Resources Inc. COM 354613101 5,870 159,415 SH   SOLE   159,415 0 0
General Electric Co. COM 369604103 605 19,435 SH   SOLE   19,435 0 0
General Motors Company COM 37045v100 1,218 35,817 SH   SOLE   35,817 0 0
Gilead Sciences Inc. COM 375558103 231 2,282 SH   SOLE   2,282 0 0
Glaxo SmithKline PLC COM 37733W105 5,489 136,032 SH   SOLE   136,032 0 0
H & R Block Inc. COM 093671105 5,534 166,137 SH   SOLE   166,137 0 0
HP Inc. COM 40434L105 188 15,904 SH   SOLE   15,904 0 0
Hewlett Packard Enterprise Co. COM 42824c109 242 15,904 SH   SOLE   15,904 0 0
Home Depot Inc. COM 437076102 3,728 28,191 SH   SOLE   28,191 0 0
Ideal Power, Inc. (Restricted) COM 451622104 115 14,383 SH   SOLE   14,383 0 0
Ingersoll Rand Co COM g47791101 636 11,500 SH   SOLE   11,500 0 0
Intel Corp. COM 458140101 1,793 52,037 SH   SOLE   52,037 0 0
Interpublic Group COM 460690100 400 17,188 SH   SOLE   17,188 0 0
IsoRay, Inc. COM 46489v104 13 14,218 SH   SOLE   14,218 0 0
J.M. Smucker Co. COM 832696405 1,681 13,630 SH   SOLE   13,630 0 0
Johnson & Johnson COM 478160104 10,829 105,426 SH   SOLE   105,426 0 0
Kelly Services,Inc. COM 488152208 459 28,428 SH   SOLE   28,428 0 0
Kroger Co. COM 501044101 17,108 408,988 SH   SOLE   408,988 0 0
Laboratory Corp. of America COM 50540r409 412 3,330 SH   SOLE   3,330 0 0
Legg Mason Inc. COM 524901105 1,289 32,870 SH   SOLE   32,870 0 0
Lincoln Educational COM 533535100 615 309,157 SH   SOLE   309,157 0 0
Lowes Companies COM 548661107 2,800 36,820 SH   SOLE   36,820 0 0
ManpowerGroup Inc. COM 56418h100 459 5,450 SH   SOLE   5,450 0 0
Marsh & McLennan Co. COM 571748102 6,102 110,037 SH   SOLE   110,037 0 0
Mastercard Inc. COM 57636q104 6,748 69,310 SH   SOLE   69,310 0 0
McDonalds Corp COM 580135101 2,499 21,154 SH   SOLE   21,154 0 0
Medtronic PLC COM g5960l103 10,713 139,273 SH   SOLE   139,273 0 0
Merck & Co.Inc. New COM 58933y105 8,103 153,403 SH   SOLE   153,403 0 0
Michael Kors Holdings, Ltd. COM G60754101 405 10,100 SH   SOLE   10,100 0 0
Microsoft Corp. COM 594918104 11,906 214,594 SH   SOLE   214,594 0 0
Molson Coors Brewing Co COM 60871r209 13,186 140,399 SH   SOLE   140,399 0 0
Mondelez International, Inc. COM 609207105 1,817 40,516 SH   SOLE   40,516 0 0
Monster Beverage Corp. COM 611740101 1,802 12,100 SH   SOLE   12,100 0 0
Newell Rubbermaid Inc. COM 651229106 258 5,850 SH   SOLE   5,850 0 0
Nike Inc Class B COM 654106103 1,459 23,340 SH   SOLE   23,340 0 0
Nordstrom Inc. COM 655664100 203 4,078 SH   SOLE   4,078 0 0
Oracle Corp COM 68389X105 4,359 119,337 SH   SOLE   119,337 0 0
Paychex Inc. COM 704326107 2,604 49,235 SH   SOLE   49,235 0 0
Pepsico Inc. COM 713448108 14,038 140,489 SH   SOLE   140,489 0 0
Pfizer Inc. COM 717081103 2,783 86,224 SH   SOLE   86,224 0 0
Philip Morris International COM 718172109 16,538 188,119 SH   SOLE   188,119 0 0
Phillips 66 COM 718546104 1,410 17,243 SH   SOLE   17,243 0 0
Plum Creek Timber Company COM 729251108 298 6,235 SH   SOLE   6,235 0 0
Precision Castparts Corp COM 740189105 7,617 32,831 SH   SOLE   32,831 0 0
Principal Financial Group COM 74251v102 239 5,322 SH   SOLE   5,322 0 0
Procter & Gamble Co. COM 742718109 4,437 55,878 SH   SOLE   55,878 0 0
Quest Diagnostics Inc. COM 74834l100 4,999 70,270 SH   SOLE   70,270 0 0
Raytheon Company COM 755111507 1,681 13,500 SH   SOLE   13,500 0 0
St. Jude Medical Inc. COM 790849103 1,360 22,019 SH   SOLE   22,019 0 0
Starbucks Corp COM 855244109 453 7,554 SH   SOLE   7,554 0 0
Textainer Group Holdings Limit COM g8766e109 897 63,600 SH   SOLE   63,600 0 0
The Kraft Heinz Company COM 500754106 962 13,224 SH   SOLE   13,224 0 0
The Travelers Companies Inc. COM 89417e109 9,571 84,803 SH   SOLE   84,803 0 0
Time Warner Inc. COM 887317303 1,091 16,876 SH   SOLE   16,876 0 0
Twenty-First Century Fox Cl A COM 90130a101 2,038 75,026 SH   SOLE   75,026 0 0
US Bancorp Delaware New COM 902973304 498 11,660 SH   SOLE   11,660 0 0
Unilever NV New York Shs COM 904784709 5,143 118,728 SH   SOLE   118,728 0 0
United Parcel Service Inc. COM 911312106 1,283 13,331 SH   SOLE   13,331 0 0
Unitedhealth Group Inc. COM 91324p102 14,032 119,275 SH   SOLE   119,275 0 0
Unum Group COM 91529y106 3,123 93,821 SH   SOLE   93,821 0 0
Valero Energy Corp. COM 91913y100 5,148 72,810 SH   SOLE   72,810 0 0
Verizon Communications COM 92343V104 1,988 43,002 SH   SOLE   43,002 0 0
Viacom Inc. Class B COM 92553p201 938 22,795 SH   SOLE   22,795 0 0
Visa, Inc. COM 92826c839 3,416 44,048 SH   SOLE   44,048 0 0
Vitamin Shoppe, Inc. COM 92849E101 1,101 33,660 SH   SOLE   33,660 0 0
Waddell & Reed Financial COM 930059100 1,003 35,008 SH   SOLE   35,008 0 0
Wal Mart Stores COM 931142103 5,599 91,342 SH   SOLE   91,342 0 0
Walt Disney Holding Co. COM 254687106 652 6,207 SH   SOLE   6,207 0 0
Washington Federal COM 938824109 572 24,020 SH   SOLE   24,020 0 0
Waste Management Inc. Del COM 94106L109 276 5,180 SH   SOLE   5,180 0 0
Weight Watchers Intl. Inc. COM 948626106 1,154 50,620 SH   SOLE   50,620 0 0
Wells Fargo & Co. COM 949974610 242 4,460 SH   SOLE   4,460 0 0
Western Union Company COM 959802109 3,833 214,002 SH   SOLE   214,002 0 0
Willbros Group, Inc COM 969203108 33 12,175 SH   SOLE   12,175 0 0
Yum! Brands, Inc. COM 988498101 975 13,347 SH   SOLE   13,347 0 0
Zimmer Biomet Holdings COM 98956p102 8,614 83,964 SH   SOLE   83,964 0 0
Zynerba Pharmaceuticals Inc. COM 98986x109 180 17,857 SH   SOLE   17,857 0 0
Arcos Dorados Hldgs. FOR g0457f107 208 66,798 SH   SOLE   66,798 0 0
Coca-Cola HBC AG ADR Unsponsor FOR 191223205 277 13,200 SH   SOLE   13,200 0 0
LyondellBasell Industries N.V. FOR n53745100 912 10,500 SH   SOLE   10,500 0 0
Nokia Corp Sponsored ADR FOR 654902204 92 13,110 SH   SOLE   13,110 0 0
Royal Dutch Shell PLC FOR 780259206 732 15,978 SH   SOLE   15,978 0 0
SK Telecom ADR FOR 78440p108 210 10,408 SH   SOLE   10,408 0 0
Telefonica S.A. ADR FOR 879382208 5,365 485,065 SH   SOLE   485,065 0 0
Toyota Motor Corp ADR FOR 892331307 255 2,075 SH   SOLE   2,075 0 0