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
3M CO COM 88579Y101 1,918,738 10,070 SH   SOLE   7,570 0 2,500
ABB LTD-REG COM 007108899 974,575 51,390 SH   SOLE   0 0 51,390
ABBOTT LABS COM 002824100 1,215,144 16,800 SH   SOLE   12,700 0 4,100
ABBVIE INC. COM 00287Y109 921,900 10,000 SH   SOLE   8,100 0 1,900
ACTIVISION BLIZZARD COM 00507V109 412,610 8,860 SH   SOLE   6,660 0 2,200
ADECCO GROUP AG-REG COM 007110720 381,585 8,190 SH   SOLE   0 0 8,190
AEON MALL CO LTD COM 650034202 360,273 22,600 SH   SOLE   0 0 22,600
AES CORP COM 00130H105 1,311,522 90,700 SH   SOLE   68,400 0 22,300
AGNC INVESTMENT CORP COM 00123Q104 941,898 53,700 SH   SOLE   40,900 0 12,800
AIA GROUP LTD COM 00B4TX8S1 7,472 900 SH   SOLE   0 0 900
AIR LIQUIDE SA COM 00B1YXBJ7 419,654 3,385 SH   SOLE   0 0 3,385
AIR PROD & CHEM. COM 009158106 184,058 1,150 SH   SOLE   1,150 0 0
AKZO NOBEL COM 005458314 522,864 6,497 SH   SOLE   0 0 6,497
ALEXION PHARM. COM 015351109 43,812 450 SH   SOLE   450 0 0
ALLETE INC COM COM 018522300 384,911 5,050 SH   SOLE   3,850 0 1,200
ALLIANCE DATA SYSTEMS COM 018581108 45,024 300 SH   SOLE   300 0 0
ALLIANZ SE-REG COM 005231485 340,760 1,702 SH   SOLE   0 0 1,702
ALLSTATE CORP. COM 020002101 161,129 1,950 SH   SOLE   1,950 0 0
ALLY FINANCIAL INC COM 02005N100 1,068,872 47,170 SH   SOLE   35,570 0 11,600
ALPHABET INC. CL A COM 02079K305 1,776,432 1,700 SH   SOLE   1,300 0 400
ALPHABET INC. CL C COM 02079K107 1,315,225 1,270 SH   SOLE   1,020 0 250
ALTRIA GROUP COM 02209S103 1,918,802 38,850 SH   SOLE   29,300 0 9,550
AMADEUS IT GROUP SA COM 00B3MSM28 416,391 5,987 SH   SOLE   0 0 5,987
AMAZON COM COM 023135106 1,021,340 680 SH   SOLE   580 0 100
AMCOR LIMITED COM 006066608 541,966 58,101 SH   SOLE   0 0 58,101
AMERICAN TOWER CORP. COM 03027X100 2,257,371 14,270 SH   SOLE   11,170 0 3,100
AMERICAN WTR WKS CO COM 030420103 172,463 1,900 SH   SOLE   1,900 0 0
AMERIPRISE FINANCIAL COM 03076C106 1,117,803 10,710 SH   SOLE   8,060 0 2,650
AMERISAFE INC COM 03071H100 31,180 550 SH   SOLE   550 0 0
AMGEN INC. COM 031162100 467,208 2,400 SH   SOLE   1,900 0 500
AMN HEALTHCARE SVC COM 001744101 25,497 450 SH   SOLE   450 0 0
ANADARKO PETE CORP. COM 032511107 59,184 1,350 SH   SOLE   1,350 0 0
ANTHEM INC. COM 036752103 170,710 650 SH   SOLE   650 0 0
AON CORP ADR G0408V102 1,250,096 8,600 SH   SOLE   0 0 8,600
APACHE CORP. COM 037411105 525,525 20,020 SH   SOLE   15,120 0 4,900
APPLE INC. COM 037833100 1,389,689 8,810 SH   SOLE   7,410 0 1,400
APPLIED INDL TECH COM 03820C105 97,092 1,800 SH   SOLE   1,800 0 0
APPLIED MATLS INC. COM 038222105 308,738 9,430 SH   SOLE   7,530 0 1,900
APTIV PLC ADR G6095L109 347,871 5,650 SH   SOLE   0 0 5,650
ARCH CAPITAL GP LTD. ADR G0450A105 961,920 36,000 SH   SOLE   0 0 36,000
ARES CAP CORP COM 04010L103 1,128,833 72,454 SH   SOLE   54,654 0 17,800
ASPEN TECHNOLOGY COM 045327103 53,417 650 SH   SOLE   650 0 0
AT&T INC. COM 00206R102 3,768,707 132,050 SH   SOLE   100,850 0 31,200
ATHENAHEALTH INC COM 04685W103 19,790 150 SH   SOLE   150 0 0
AUST & NZ BNKG ADR 052528304 530,255 31,100 SH   SOLE   0 0 31,100
AUTOLIV INC-SWED DEP RECE COM 005247374 218,296 3,073 SH   SOLE   0 0 3,073
AXIS CAPITAL HDS ADR G0692U109 841,732 16,300 SH   SOLE   0 0 16,300
BAE SYS PLC ADR 05523R107 889,960 38,000 SH   SOLE   0 0 38,000
BAIDU COM INC ADR 056752108 237,900 1,500 SH   SOLE   0 0 1,500
BAKER HUGHES A GE COM 05722G100 523,525 24,350 SH   SOLE   18,950 0 5,400
BANCO BILBAO VIZCAYA ARGE COM 005501906 313,859 59,229 SH   SOLE   0 0 59,229
BANDAI NAMCO HOLDINGS INC COM 00B0JDQD4 1,131,204 25,200 SH   SOLE   0 0 25,200
BANK OF AMERICA COM 060505104 3,939,936 159,900 SH   SOLE   121,900 0 38,000
BANK OZK COM 06417N103 23,972 1,050 SH   SOLE   1,050 0 0
BAXTER INTL INC. COM 071813109 401,502 6,100 SH   SOLE   4,600 0 1,500
BAYER AG-REG COM 005069211 784,782 11,336 SH   SOLE   0 0 11,336
BEAZER HOMES USA COM 07556Q881 7,868 830 SH   SOLE   830 0 0
BECTON DICKINSON & CO COM 075887109 2,045,906 9,080 SH   SOLE   9,080 0 0
BEIERSDORF AG COM 005107401 503,124 4,828 SH   SOLE   0 0 4,828
BERKSHIRE HATH. B COM 084670702 2,981,028 14,600 SH   SOLE   11,200 0 3,400
BERKSHIRE HATHAWAY A COM 084670108 2,754,000 9 SH   SOLE   7 0 2
BEST BUY INC. COM 086516101 421,032 7,950 SH   SOLE   6,050 0 1,900
BIO-TECHNE CORP COM 09073M104 43,416 300 SH   SOLE   300 0 0
BLACK HILLS CORP COM 092113109 411,209 6,550 SH   SOLE   4,950 0 1,600
BLACKSTONE MORTGAGE TRU-C COM 09257W100 400,799 12,580 SH   SOLE   9,480 0 3,100
BOEING CO. COM 097023105 764,325 2,370 SH   SOLE   1,870 0 500
BOOKING HOLDINGS INC. COM 09857L108 86,121 50 SH   SOLE   50 0 0
BRISTOL MYERS SQUIBB COM 110122108 1,210,614 23,290 SH   SOLE   17,790 0 5,500
BRITISH AMERICAN TOBACCO COM 000287580 14,360 451 SH   SOLE   0 0 451
BROADCOM INC. COM 11135F101 2,326,662 9,150 SH   SOLE   2,950 0 6,200
CABOT OIL & GAS COM 127097103 351,789 15,740 SH   SOLE   11,840 0 3,900
CANADIAN NATL RAILWAY CO COM 002180632 703,284 9,500 SH   SOLE   0 0 9,500
CANADIAN PACIFIC RAILWAY COM 002793115 478,875 2,700 SH   SOLE   0 0 2,700
CAPITAL ONE FINL COM 14040H105 75,590 1,000 SH   SOLE   1,000 0 0
CARDINAL HEALTH INC COM 14149Y108 53,520 1,200 SH   SOLE   1,200 0 0
CARLSBERG AS-B COM 004169219 508,420 4,792 SH   SOLE   0 0 4,792
CASEYS GEN STORES COM 147528103 96,105 750 SH   SOLE   750 0 0
CATALENT INC COM 148806102 341,733 10,960 SH   SOLE   8,260 0 2,700
CATERPILLAR TRACTOR COM 149123101 57,182 450 SH   SOLE   450 0 0
CATHAY GENERAL BANCORP COM 149150104 306,800 9,150 SH   SOLE   6,850 0 2,300
CAVCO INDS INC COM 149568107 19,557 150 SH   SOLE   150 0 0
CBOE HOLDINGS INC COM 12503M108 390,342 3,990 SH   SOLE   3,040 0 950
CBS CORP. COM 124857202 1,173,882 26,850 SH   SOLE   20,250 0 6,600
CELGENE CORP COM 151020104 57,681 900 SH   SOLE   900 0 0
CENTERPOINT ENERGY INC COM 15189T107 131,270 4,650 SH   SOLE   4,650 0 0
CENTURYLINK INC. COM 156700106 683,720 45,130 SH   SOLE   34,030 0 11,100
CGI GROUP INC - CL A COM 002159740 972,068 15,900 SH   SOLE   0 0 15,900
CHARLES SCHWAB COM 808513105 89,290 2,150 SH   SOLE   2,150 0 0
CHARTER PLC COM 16119P108 669,680 2,350 SH   SOLE   1,850 0 500
CHASE CORP COM 16150R104 25,013 250 SH   SOLE   250 0 0
CHEFS' WAREHOUSE INC COM 163086101 31,980 1,000 SH   SOLE   1,000 0 0
CHEVRON CORP COM 166764100 2,779,585 25,550 SH   SOLE   19,450 0 6,100
CHIPOTLE MEXICAN GRILL COM 169656105 43,179 100 SH   SOLE   100 0 0
CIGNA CORP. COM 125509109 1,994,160 10,500 SH   SOLE   7,900 0 2,600
CINTAS CORP COM 172908105 100,794 600 SH   SOLE   600 0 0
CISCO SYSTEMS COM 17275R102 3,282,248 75,750 SH   SOLE   57,850 0 17,900
CITIGROUP INC. COM 172967424 3,386,503 65,050 SH   SOLE   49,450 0 15,600
CITIZENS FINANCIAL GROUP COM 174610105 2,138,479 71,930 SH   SOLE   54,280 0 17,650
CME GROUP COM 12572Q105 84,654 450 SH   SOLE   450 0 0
COCA COLA COMPANY COM 191216100 75,760 1,600 SH   SOLE   1,600 0 0
COGNIZANT TECH. COM 192446102 904,590 14,250 SH   SOLE   10,750 0 3,500
COLGATE PALMOLIVE COM 194162103 169,632 2,850 SH   SOLE   2,850 0 0
COMCAST CORP-Cl A COM 20030N101 2,007,929 58,970 SH   SOLE   58,970 0 0
COMPASS GROUP PLC COM 00BD6K457 1,196,497 56,937 SH   SOLE   0 0 56,937
CONAGRA INC. COM 205887102 288,787 13,520 SH   SOLE   10,220 0 3,300
CONCHO RESOURCES COM 20605P101 263,142 2,560 SH   SOLE   1,960 0 600
CONOCOPHILLIPS COM 20825C104 1,175,298 18,850 SH   SOLE   14,750 0 4,100
CONTINENTAL RESOURCES COM 212015101 20,095 500 SH   SOLE   500 0 0
COPART INC COM 217204106 35,835 750 SH   SOLE   750 0 0
CORNING INC COM 219350105 1,847,342 61,150 SH   SOLE   46,150 0 15,000
COSTCO WHOLESALE COM 22160K105 926,881 4,550 SH   SOLE   3,450 0 1,100
CREDIT SAISON CO LTD COM 006591809 228,277 19,400 SH   SOLE   0 0 19,400
CROWN CASTLE INTL COM 22822V101 1,955,340 18,000 SH   SOLE   13,600 0 4,400
CSX CORP. COM 126408103 363,461 5,850 SH   SOLE   4,450 0 1,400
CULLEN FROST BANKERS COM 229899109 48,367 550 SH   SOLE   550 0 0
CUMMINS INC COM 231021106 2,211,742 16,550 SH   SOLE   12,450 0 4,100
CVS CAREMARK CORP COM 126650100 574,610 8,770 SH   SOLE   6,870 0 1,900
D R HORTON INC. COM 23331A109 83,184 2,400 SH   SOLE   2,400 0 0
DANAHER CORP COM 235851102 190,772 1,850 SH   SOLE   1,850 0 0
DANONE COM 00B1Y9TB3 459,931 6,541 SH   SOLE   0 0 6,541
DBS GROUP HOLDINGS LTD COM 006175203 1,428,700 82,200 SH   SOLE   0 0 82,200
DELTA AIR LINES COM 247361702 1,061,872 21,280 SH   SOLE   16,080 0 5,200
DENSO CORP COM 006640381 557,467 12,500 SH   SOLE   0 0 12,500
DEUTSCHE BOERSE AG COM 007021963 623,863 5,200 SH   SOLE   0 0 5,200
DEVON ENERGY (NEW) COM 25179M103 409,777 18,180 SH   SOLE   13,680 0 4,500
DIAGEO PLC COM 000237400 859,848 24,155 SH   SOLE   0 0 24,155
DIGITAL RLTY TR COM 253868103 1,962,651 18,420 SH   SOLE   14,170 0 4,250
DISCOVER FINCL SERVICES COM 254709108 1,776,478 30,120 SH   SOLE   22,720 0 7,400
DISH NETWORK CORP CL A COM 25470M109 41,201 1,650 SH   SOLE   1,650 0 0
DISNEY WALT PRODTNS COM 254687106 65,790 600 SH   SOLE   600 0 0
DISTRIBUIDORA INTERNACION COM 00B55ZR92 12,386 23,477 SH   SOLE   0 0 23,477
DOLLAR GEN CORP COM 256677105 81,060 750 SH   SOLE   750 0 0
DOWDUPONT INC. COM 26078J100 2,304,988 43,100 SH   SOLE   33,000 0 10,100
EDISON INTERNATIONAL COM 281020107 342,891 6,040 SH   SOLE   4,540 0 1,500
EL PASO ELEC CO. COM 283677854 330,858 6,600 SH   SOLE   5,000 0 1,600
ELI LILLY & CO. COM 532457108 2,251,911 19,460 SH   SOLE   14,660 0 4,800
ELLIE MAE INC COM 28849P100 18,849 300 SH   SOLE   300 0 0
ENTERGY CORP. COM 29364G103 2,972,858 34,540 SH   SOLE   26,090 0 8,450
EQUINIX INC COM 29444U700 338,458 960 SH   SOLE   760 0 200
ERSTE GROUP BANK AG COM 005289837 308,108 9,278 SH   SOLE   0 0 9,278
ESSILORLUXOTTICA COM 007212477 214,138 1,696 SH   SOLE   0 0 1,696
EXELON CORP. COM 30161N101 3,278,770 72,700 SH   SOLE   54,800 0 17,900
EXPEDITORS INT'L COM 302130109 44,259 650 SH   SOLE   650 0 0
EXXON MOBIL CORP. COM 30231G102 4,336,884 63,600 SH   SOLE   48,400 0 15,200
FACEBOOK INC. COM 30303M102 255,626 1,950 SH   SOLE   1,950 0 0
FACTSET RESH SYS COM 303075105 130,085 650 SH   SOLE   650 0 0
FAMILYMART UNY HOLDINGS C COM 006331276 1,166,404 9,200 SH   SOLE   0 0 9,200
FANUC CORP COM 006356934 508,996 3,350 SH   SOLE   0 0 3,350
FIFTH THIRD BANCORP COM 316773100 1,650,865 70,160 SH   SOLE   52,960 0 17,200
FIRST MERCHANTS CORP COM 320817109 53,119 1,550 SH   SOLE   1,550 0 0
FIRST REPUBLIC BANK/CA COM 33616C100 521,400 6,000 SH   SOLE   4,900 0 1,100
FOMENTO ECONOMICO MEX-SP ADR 344419106 357,108 4,150 SH   SOLE   0 0 4,150
FORD MOTOR CO. COM 345370860 787,950 103,000 SH   SOLE   80,400 0 22,600
FOX FACTORY HOLDING CORP COM 35138V102 32,379 550 SH   SOLE   550 0 0
FRESENIUS SE & CO KGAA COM 004352097 462,181 9,540 SH   SOLE   0 0 9,540
FULTON FINL CORP. COM 360271100 351,396 22,700 SH   SOLE   17,100 0 5,600
GALLAGHER ARTHUR CO. COM 363576109 2,609,717 35,410 SH   SOLE   26,710 0 8,700
GEBERIT AG-REG COM 00B1WGG93 660,823 1,704 SH   SOLE   0 0 1,704
GENERAL MTRS CO COM 37045V100 36,795 1,100 SH   SOLE   1,100 0 0
GILEAD SCIENCES INC. COM 375558103 1,273,518 20,360 SH   SOLE   15,660 0 4,700
GLOBUS MEDICAL CL A COM 379577208 45,444 1,050 SH   SOLE   1,050 0 0
GOLDMAN SACHS GROUP COM 38141G104 1,244,523 7,450 SH   SOLE   5,750 0 1,700
GRIFOLS SA-ADR ADR 398438408 719,712 39,200 SH   SOLE   0 0 39,200
GROUPE BRUXELLES LAMBERT COM 007097328 335,533 3,858 SH   SOLE   0 0 3,858
GRUPO TELEVISA SA ADR 40049J206 139,638 11,100 SH   SOLE   0 0 11,100
HALLIBURTON CO. COM 406216101 463,289 17,430 SH   SOLE   17,430 0 0
HARTFORD FINCL. SRV COM 416515104 126,683 2,850 SH   SOLE   2,850 0 0
HASBRO INC. COM 418056107 85,313 1,050 SH   SOLE   1,050 0 0
HCA INC. COM 40412C101 497,800 4,000 SH   SOLE   3,000 0 1,000
HEALTHCARE REALTY COM 421946104 116,604 4,100 SH   SOLE   4,100 0 0
HEICO CORP-CLASS A COM 422806208 57,204 908 SH   SOLE   908 0 0
HEINEKEN NV COM 007792559 614,669 6,965 SH   SOLE   0 0 6,965
HELMERICH & PAYNE COM 423452101 558,980 11,660 SH   SOLE   8,810 0 2,850
HENKEL AG & CO KGAA VORZU COM 005076705 376,899 3,456 SH   SOLE   0 0 3,456
HERMES INTERNATIONAL COM 005253973 561,404 1,013 SH   SOLE   0 0 1,013
HESS CORP. COM 42809H107 521,640 12,880 SH   SOLE   9,680 0 3,200
HEXAGON AB-B SHS COM 00B1XFTL2 827,519 17,982 SH   SOLE   0 0 17,982
HOME DEPOT INC. COM 437076102 1,080,748 6,290 SH   SOLE   4,840 0 1,450
HOYA CORP COM 006441506 1,139,530 18,900 SH   SOLE   0 0 18,900
HP INC COM 40434L105 499,224 24,400 SH   SOLE   18,400 0 6,000
HUMANA INC. COM 444859102 701,876 2,450 SH   SOLE   1,850 0 600
HUNT J B TRANS SVCS COM 445658107 55,824 600 SH   SOLE   600 0 0
HUNTINGTON BANCSHARES COM 446150104 21,456 1,800 SH   SOLE   1,800 0 0
HUNTINGTON INGALLS INDUS COM 446413106 57,093 300 SH   SOLE   300 0 0
ICICI BK LTD ADR 45104G104 113,756 11,055 SH   SOLE   0 0 11,055
ILLUMINA INC COM 452327109 44,990 150 SH   SOLE   150 0 0
IMPERIAL OIL LTD COM 002454241 45,586 1,800 SH   SOLE   0 0 1,800
IMPERIAL OIL LTD ADR 453038408 478,548 18,900 SH   SOLE   0 0 18,900
ING GROEP NV-CVA COM 00BZ57390 816,890 75,940 SH   SOLE   0 0 75,940
INGREDION INC COM 457187102 498,130 5,450 SH   SOLE   4,150 0 1,300
INSURANCE AUSTRALIA GROUP COM 006271026 587,309 119,178 SH   SOLE   0 0 119,178
INT'L BUSINESS MACH. COM 459200101 68,202 600 SH   SOLE   600 0 0
INT'L PAPER CO. COM 460146103 1,995,802 49,450 SH   SOLE   37,250 0 12,200
INTEL CORP. COM 458140100 3,827,142 81,550 SH   SOLE   62,150 0 19,400
INTL CONSOLIDATED AIRLINE COM 00B5M6XQ7 36,206 4,600 SH   SOLE   0 0 4,600
INTUITIVE SURGICAL INC COM 46120E602 95,784 200 SH   SOLE   200 0 0
INVESTOR AB-B SHS COM 005679591 712,449 16,817 SH   SOLE   0 0 16,817
ISS A/S COM 00BKJ9RT5 672,542 24,116 SH   SOLE   0 0 24,116
ITAU UNIBANCO HLDNG-PREF ADR 465562106 401,630 43,942 SH   SOLE   0 0 43,942
JAPAN TOBACCO INC COM 006474535 462,654 19,400 SH   SOLE   0 0 19,400
JARDINE LLOYD THOMPSON GR COM 000520337 21,880 908 SH   SOLE   0 0 908
JEFFERIES FINANCIAL GP COM 47233W109 1,589,308 91,550 SH   SOLE   69,050 0 22,500
JM SMUCKER CO COM 832696405 93,490 1,000 SH   SOLE   1,000 0 0
JOHNSON & JOHNSON COM 478160104 3,910,215 30,300 SH   SOLE   23,200 0 7,100
JPMORGAN CHASE & CO COM 46625H100 4,812,666 49,300 SH   SOLE   37,600 0 11,700
JULIUS BAER GROUP LTD COM 00B4R2R50 199,626 5,621 SH   SOLE   0 0 5,621
KAISER ALUMINUM CORP COM 483007704 40,181 450 SH   SOLE   450 0 0
KBC GROEP NV COM 004497749 247,253 3,816 SH   SOLE   0 0 3,816
KDDI CORP COM 006248990 602,696 25,200 SH   SOLE   0 0 25,200
KELLOGG CO COM 487836108 1,693,767 29,710 SH   SOLE   23,060 0 6,650
KEYCORP COM 493267108 1,378,974 93,300 SH   SOLE   71,000 0 22,300
KIA MOTORS CORP COM 006490928 76,201 2,523 SH   SOLE   0 0 2,523
KIMBERLY CLARK CORP. COM 494368103 1,692,009 14,850 SH   SOLE   11,200 0 3,650
KINDER MORGAN INC COM 49456B101 506,002 32,900 SH   SOLE   24,800 0 8,100
KINGFISHER PLC COM 003319521 189,248 71,611 SH   SOLE   0 0 71,611
KOMATSU LTD COM 006496584 564,883 26,200 SH   SOLE   0 0 26,200
KRAFT HEINZ CO COM 500754106 641,296 14,900 SH   SOLE   11,200 0 3,700
KROGER CO. COM 501044101 1,188,550 43,220 SH   SOLE   32,620 0 10,600
KUEHNE & NAGEL INTL AG-RE COM 00B142S60 333,883 2,605 SH   SOLE   0 0 2,605
L3 TECHNOLOGIES INC COM 502413107 104,196 600 SH   SOLE   600 0 0
LAM RESEARCH COM 512807108 612,765 4,500 SH   SOLE   3,450 0 1,050
LAUDER ESTEE COS. COM 518439104 1,484,441 11,410 SH   SOLE   8,610 0 2,800
LEAR CORP. COM 521865204 1,394,461 11,350 SH   SOLE   8,550 0 2,800
LEGRAND SA COM 00B11ZRK9 365,984 6,494 SH   SOLE   0 0 6,494
LENOVO GROUP LTD COM 006218089 105,403 156,000 SH   SOLE   0 0 156,000
LIBERTY MEDIA CORP-LIBERT COM 531229870 460,660 15,500 SH   SOLE   11,700 0 3,800
LINDE AG COM 005740817 1,421,492 6,418 SH   SOLE   0 0 6,418
LITTELFUSE INC COM 537008104 51,444 300 SH   SOLE   300 0 0
LOCKHEED MARTIN COM 539830109 764,573 2,920 SH   SOLE   2,170 0 750
MARATHON OIL COM 565849106 497,598 34,700 SH   SOLE   26,200 0 8,500
MARATHON PETROLEUM CORP COM 56585A102 997,269 16,900 SH   SOLE   13,100 0 3,800
MARKETAXESS HOLDINGS COM 57060D108 63,393 300 SH   SOLE   300 0 0
MARSH & MCLENNON COM 571748102 2,509,733 31,470 SH   SOLE   23,770 0 7,700
MASTERCARD INC. COM 57636Q104 179,218 950 SH   SOLE   950 0 0
MAXIM INTERGRATED COM 57772K101 935,640 18,400 SH   SOLE   13,850 0 4,550
MCDONALDS CORP. COM 580135101 5,201,025 29,290 SH   SOLE   22,490 0 6,800
MCKESSON CORP COM 58155Q103 679,391 6,150 SH   SOLE   4,450 0 1,700
MEDTRONIC INC. ADR G5960L103 109,152 1,200 SH   SOLE   0 0 1,200
MERCK & CO. INC. COM 58933Y105 3,037,298 39,750 SH   SOLE   31,050 0 8,700
MERCK KGAA COM 004741844 718,481 6,985 SH   SOLE   0 0 6,985
METLIFE INC COM 59156R108 2,308,804 56,230 SH   SOLE   42,430 0 13,800
MFA FINANCIAL INC. COM 55272X102 93,186 13,950 SH   SOLE   13,950 0 0
MICRON TECHNOLOGY COM 595112103 33,317 1,050 SH   SOLE   1,050 0 0
MICROSOFT CORP. COM 594918104 2,504,716 24,660 SH   SOLE   19,710 0 4,950
MOODYS CORP COM 615369105 406,116 2,900 SH   SOLE   2,200 0 700
MORGAN STANLEY COM 617446448 816,790 20,600 SH   SOLE   15,800 0 4,800
MORNINGSTAR INC COM 617700109 76,888 700 SH   SOLE   700 0 0
MOSAIC CO. COM 61945C103 556,451 19,050 SH   SOLE   14,350 0 4,700
MTU AERO ENGINES AG COM 00B09DHL9 1,403,693 7,752 SH   SOLE   0 0 7,752
NASPERS LTD-N SHS COM 006622691 70,774 352 SH   SOLE   0 0 352
NESTLE SA-REG COM 007123870 1,954,525 24,145 SH   SOLE   0 0 24,145
NETEASE COM INC ADR 64110W102 94,148 400 SH   SOLE   0 0 400
NETFLIX COM INC COM 64110L106 80,298 300 SH   SOLE   300 0 0
NEW ORIENTAL EDUCATIO-SP COM 647581107 93,177 1,700 SH   SOLE   0 0 1,700
NOBLE ENERGY INC COM 655044105 531,471 28,330 SH   SOLE   21,380 0 6,950
NORTHROP GRUMMAN COM 666807102 1,604,095 6,550 SH   SOLE   4,950 0 1,600
NORTHWESTERN CORP COM 668074305 407,164 6,850 SH   SOLE   5,150 0 1,700
NOVOZYMES A/S-B SHARES COM 00B798FW0 1,041,642 23,375 SH   SOLE   0 0 23,375
NTT DOCOMO INC COM 006129277 362,824 16,100 SH   SOLE   0 0 16,100
NVE CORP COM 629445206 26,262 300 SH   SOLE   300 0 0
NVIDIA CORP COM 67066G104 73,425 550 SH   SOLE   550 0 0
OCCIDENTAL PETRO. COM 674599105 2,148,300 35,000 SH   SOLE   27,000 0 8,000
OLD DOMINION FGHT LINE COM 679580100 74,094 600 SH   SOLE   600 0 0
OLD REP INTL CORP. COM 680223104 75,081 3,650 SH   SOLE   3,650 0 0
OLLIE'S BARGAIN OUTLET HD COM 681116109 46,557 700 SH   SOLE   700 0 0
OLYMPUS CORP COM 006658801 175,341 5,700 SH   SOLE   0 0 5,700
ONO PHARMACEUTICAL CO LTD COM 006660107 261,915 12,800 SH   SOLE   0 0 12,800
ORACLE SYSTEMS COM 68389X105 1,553,160 34,400 SH   SOLE   26,300 0 8,100
ORION CORP COM 006896849 12,996 848 SH   SOLE   0 0 848
ORION CORP/REPUBLIC OF KO COM 00BDVLJ72 175,515 1,632 SH   SOLE   0 0 1,632
ORKLA ASA COM 00B1VQF42 335,220 42,662 SH   SOLE   0 0 42,662
OSHKOSH TRUCK CORP COM 688239201 36,786 600 SH   SOLE   600 0 0
OVERSEA-CHINESE BANKING C COM 00B0F9V20 574,979 69,600 SH   SOLE   0 0 69,600
PALO ALTO NETWORKS INC COM 697435105 37,670 200 SH   SOLE   200 0 0
PANALPINA WELTTRANSPORT - COM 00B0KJTG5 446,235 3,358 SH   SOLE   0 0 3,358
PARGESA HOLDING SA-BR COM 00B0CDLF8 800,638 11,140 SH   SOLE   0 0 11,140
PARKER HANNIFIN COM 701094104 499,619 3,350 SH   SOLE   2,550 0 800
PARSLEY ENERGY INC COM 701877102 25,568 1,600 SH   SOLE   1,600 0 0
PARTNERS GROUP HOLDING AG COM 00B119QG0 1,029,004 1,702 SH   SOLE   0 0 1,702
PATTERSON ENERGY COM 703481101 380,466 36,760 SH   SOLE   27,760 0 9,000
PAYCOM SOFTWARE INC COM 70432V102 36,735 300 SH   SOLE   300 0 0
PAYPAL HOLDINGS INC COM 70450Y103 180,794 2,150 SH   SOLE   2,150 0 0
PEOPLES UNITED FINCL COM 712704105 545,454 37,800 SH   SOLE   28,500 0 9,300
PEPSICO INC. COM 713448108 2,432,770 22,020 SH   SOLE   16,820 0 5,200
PERNOD RICARD SA COM 004682329 786,468 4,801 SH   SOLE   0 0 4,801
PFIZER INC. COM 717081103 3,742,988 85,750 SH   SOLE   65,450 0 20,300
PHIBRO ANIMAL HEALTH CORP COM 71742Q106 305,842 9,510 SH   SOLE   7,310 0 2,200
PHILIP MORRIS INT'L COM 718172109 1,255,088 18,800 SH   SOLE   14,600 0 4,200
PLAINS GP HLDS CL A COM 72651A207 804,000 40,000 SH   SOLE   30,200 0 9,800
PNC FINCL SVCS COM 693475105 2,981,205 25,500 SH   SOLE   19,200 0 6,300
PORTLAND GENERAL ELECTRIC COM 736508847 1,167,341 25,460 SH   SOLE   19,360 0 6,100
PPG INDUSTRIES COM 693506107 905,758 8,860 SH   SOLE   6,660 0 2,200
PRESTIGE BRANDS HOLDINGS COM 74112D101 690,477 22,360 SH   SOLE   17,160 0 5,200
PRICESMART INC COM 741511109 26,595 450 SH   SOLE   450 0 0
PROCTOR & GAMBLE COM 742718109 2,555,376 27,800 SH   SOLE   21,200 0 6,600
PROLOGIS TR COM 74340W103 355,256 6,050 SH   SOLE   4,550 0 1,500
PRUDENTIAL FINL INC COM 744320102 2,601,445 31,900 SH   SOLE   24,100 0 7,800
PUBLIC STORAGE INC COM 74460D109 1,945,160 9,610 SH   SOLE   7,210 0 2,400
PUBLIC SVC ENTER. COM 744573106 3,149,025 60,500 SH   SOLE   46,500 0 14,000
QUALCOMM INC. COM 747525103 1,343,076 23,600 SH   SOLE   17,800 0 5,800
RANDSTAD HOLDING NV COM 005228658 274,148 5,982 SH   SOLE   0 0 5,982
RANGE RES CORP COM 75281A109 406,725 42,500 SH   SOLE   32,000 0 10,500
RAYONIER INC COM COM 754907103 23,537 850 SH   SOLE   850 0 0
RAYTHEON CO. COM 755111507 76,675 500 SH   SOLE   500 0 0
RBC BEARINGS INC COM 75524B104 19,665 150 SH   SOLE   150 0 0
RECKITT BENCKISER GROUP P COM 00B24CGK7 700,032 9,141 SH   SOLE   0 0 9,141
RECRUIT HOLDINGS CO LTD COM 00BQRRZ00 902,748 37,200 SH   SOLE   0 0 37,200
RED HAT INC COM 756577102 105,384 600 SH   SOLE   600 0 0
REED ELSEVIER NV COM 004148810 1,160,913 56,513 SH   SOLE   0 0 56,513
REED ELSEVIER PLC COM 00B2B0DG9 1,153,552 56,031 SH   SOLE   0 0 56,031
REGENERON PHARM. COM 75886F107 74,700 200 SH   SOLE   200 0 0
REGIONS FINANCIAL CORP COM 7591EP100 1,073,210 80,210 SH   SOLE   60,510 0 19,700
RELIANCE STEEL & ALUM COM 759509102 526,658 7,400 SH   SOLE   5,600 0 1,800
RIGHTMOVE PLC COM 00BGDT3G2 610,299 110,860 SH   SOLE   0 0 110,860
RINNAI CORP COM 006740582 224,363 3,400 SH   SOLE   0 0 3,400
ROCHE HOLDING AG-GENUSSCH COM 007110388 1,496,991 6,063 SH   SOLE   0 0 6,063
ROCKWELL INT'L COM 773903109 797,544 5,300 SH   SOLE   4,000 0 1,300
ROYAL BANK OF CANADA COM 002754383 1,043,315 15,250 SH   SOLE   0 0 15,250
ROYAL DUTCH SHELL A ADR 780259206 1,622,820 27,850 SH   SOLE   0 0 27,850
S & T BANCORP INC COM 783859101 26,488 700 SH   SOLE   700 0 0
SALESFORCE COM INC COM 79466L302 143,819 1,050 SH   SOLE   1,050 0 0
SANTEN PHARMACEUTICAL CO COM 006776606 448,125 31,000 SH   SOLE   0 0 31,000
SAP AG COM 004846288 1,363,113 13,717 SH   SOLE   0 0 13,717
SASOL LTD ADR 803866300 632,664 21,600 SH   SOLE   0 0 21,600
SHIN-ETSU CHEMICAL CO LTD COM 006804585 886,938 11,400 SH   SOLE   0 0 11,400
SHUTTERSTOCK INC COM 825690100 23,407 650 SH   SOLE   650 0 0
SIMON PPTY GP COM 828806109 1,916,766 11,410 SH   SOLE   8,610 0 2,800
SMITH & NEPHEW PLC COM 000922320 16,837 903 SH   SOLE   0 0 903
SMITHS GROUP PLC COM 00B1WY233 266,190 15,323 SH   SOLE   0 0 15,323
SODEXO COM 007062713 350,725 3,428 SH   SOLE   0 0 3,428
SONY FINANCIAL HOLDINGS I COM 00B249SN5 1,037,661 55,400 SH   SOLE   0 0 55,400
SOUTHWEST AIRLINES COM 844741108 67,396 1,450 SH   SOLE   1,450 0 0
STAG INDUSTRIAL INC COM 85254J102 65,932 2,650 SH   SOLE   2,650 0 0
STANDARD CHARTERED PLC COM 000408284 13,052 1,682 SH   SOLE   0 0 1,682
STANLEY ELECTRIC CO LTD COM 006841106 836,467 29,700 SH   SOLE   0 0 29,700
STEEL DYNAMICS INC COM 858119100 45,060 1,500 SH   SOLE   1,500 0 0
STRYKER CORP. COM 863667101 446,738 2,850 SH   SOLE   2,150 0 700
SUMITOMO METAL MINING CO COM 006858849 349,246 13,000 SH   SOLE   0 0 13,000
SUNCOR ENERGY INC COM 00B3NB1P2 103,296 3,700 SH   SOLE   0 0 3,700
SUNCOR ENERGY INC ADR 867224107 825,115 29,500 SH   SOLE   0 0 29,500
SWEDBANK AB - A SHARES COM 004846523 382,146 17,133 SH   SOLE   0 0 17,133
SYNCHRONY FINANCIAL COM 87165B103 1,187,076 50,600 SH   SOLE   38,200 0 12,400
SYSCO COM 871829107 1,053,941 16,820 SH   SOLE   12,670 0 4,150
T ROWE PRICE GP COM 74144T108 301,886 3,270 SH   SOLE   2,470 0 800
TAIWAN SEMICONDUCTOR ADR 874039100 107,039 2,900 SH   SOLE   0 0 2,900
TAPESTRY INC. COM 876030107 344,250 10,200 SH   SOLE   7,700 0 2,500
TE CONNECTIVITY LTD ADR H84989104 1,138,232 15,050 SH   SOLE   0 0 15,050
TELEFONICA BRASIL-ADR COM 87936R106 205,196 17,200 SH   SOLE   0 0 17,200
TERADYNE INC. COM 880770102 43,932 1,400 SH   SOLE   1,400 0 0
TERUMO CORP COM 006885074 391,429 6,900 SH   SOLE   0 0 6,900
TESLA MOTORS COM 88160R101 49,920 150 SH   SOLE   150 0 0
TEXAS INSTRS INC. COM 882508104 1,706,670 18,060 SH   SOLE   13,610 0 4,450
TEXAS ROADHOUSE INC COM 882681109 53,730 900 SH   SOLE   900 0 0
TJX COMPANIES INC. COM 872540109 1,119,395 25,020 SH   SOLE   18,820 0 6,200
TOKYO ELECTRON LTD COM 006895675 1,049,428 9,200 SH   SOLE   0 0 9,200
TORONTO-DOMINION BANK COM 002897222 1,033,451 20,800 SH   SOLE   0 0 20,800
TRAVELERS COMPANIES COM 89417E109 161,663 1,350 SH   SOLE   1,350 0 0
TWO HARBORS INVESTMENT CO COM 90187B408 920,628 71,700 SH   SOLE   54,100 0 17,600
TYSON FOOD CL A COM 902494103 1,001,250 18,750 SH   SOLE   14,150 0 4,600
UCB SA COM 005596991 496,049 6,086 SH   SOLE   0 0 6,086
UNILEVER PLC COM 00B10RZP7 266,600 5,095 SH   SOLE   0 0 5,095
UNILEVER PLC ADR 904767704 1,418,588 27,150 SH   SOLE   0 0 27,150
UNION PACIFIC CORP. COM 907818108 1,444,504 10,450 SH   SOLE   8,050 0 2,400
UNITED CONTINENTAL HDGS COM 910047109 452,142 5,400 SH   SOLE   4,100 0 1,300
UNITED HEALTHCARE COM 91324P102 1,395,072 5,600 SH   SOLE   4,400 0 1,200
UNITED OVERSEAS BANK LTD COM 006916781 1,052,742 58,400 SH   SOLE   0 0 58,400
UNITED OVERSEAS BANK-SP A ADR 911271302 1,307,544 36,200 SH   SOLE   0 0 36,200
UNITED PARCEL SERVICE COM 911312106 913,856 9,370 SH   SOLE   7,120 0 2,250
UNUMPROVIDENT COM 91529Y106 864,360 29,420 SH   SOLE   22,170 0 7,250
V F CORP. COM 918204108 1,394,697 19,550 SH   SOLE   14,750 0 4,800
VALERO ENERGY NEW COM 91913Y100 1,006,097 13,420 SH   SOLE   10,220 0 3,200
VEONEER INC. COM 00BF2JMM5 77,866 3,073 SH   SOLE   0 0 3,073
VERISK ANALYTICS INC COM 92345Y106 163,560 1,500 SH   SOLE   1,500 0 0
VERIZON COMM. COM 92343V104 3,361,956 59,800 SH   SOLE   45,600 0 14,200
VERMILION ENERGY INC COM 00B607XS1 399,035 18,950 SH   SOLE   0 0 18,950
VESUVIUS PLC COM 00B82YXW8 526,055 81,549 SH   SOLE   0 0 81,549
VIPSHOP HOLDINGS LTD - AD ADR 92763W103 33,852 6,200 SH   SOLE   0 0 6,200
VISA INC COM 92826C839 2,633,522 19,960 SH   SOLE   15,660 0 4,300
VOPAK COM 005809428 423,347 9,333 SH   SOLE   0 0 9,333
VOYA FINANCIAL INC. COM 929089100 817,652 20,370 SH   SOLE   15,570 0 4,800
VULCAN MATLS COM 929160109 855,608 8,660 SH   SOLE   6,760 0 1,900
WAL MART STORES INC. COM 931142103 1,602,180 17,200 SH   SOLE   13,000 0 4,200
WASTE MGMT INC DEL. COM 94106L109 402,235 4,520 SH   SOLE   3,420 0 1,100
WATERS CORP. COM 941848103 66,028 350 SH   SOLE   350 0 0
WD-40 CO COM 929236107 82,467 450 SH   SOLE   450 0 0
WELLS FARGO & CO COM 949746101 3,055,104 66,300 SH   SOLE   50,600 0 15,700
WH SMITH PLC COM 00B2PDGW1 440,528 20,110 SH   SOLE   0 0 20,110
WIRECARD AG COM 007508927 1,806,998 11,903 SH   SOLE   0 0 11,903
WOOD GROUP (JOHN) PLC COM 00B5N0P84 622,680 96,585 SH   SOLE   0 0 96,585
WORKDAY INC-CL. A COM 98138H101 63,872 400 SH   SOLE   400 0 0
WPP PLC COM 00B8KF9B4 520,267 48,252 SH   SOLE   0 0 48,252
WSFS FINL CORP COM 929328102 37,910 1,000 SH   SOLE   1,000 0 0
XPO LOGISTICS INC COM 983793100 17,112 300 SH   SOLE   300 0 0
YAHOO JAPAN CORP COM 006084848 232,007 92,900 SH   SOLE   0 0 92,900
ZIMMER BIOMET HOLDINGS COM 98956P102 348,499 3,360 SH   SOLE   2,510 0 850
ZION BANCORP COM 989701107 52,962 1,300 SH   SOLE   1,300 0 0
ZOETIS INC COM 98978V103 1,375,483 16,080 SH   SOLE   12,580 0 3,500