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
AFLAC Inc. COM 001055102 6,400 128,010 SH   SOLE   128,010 0 0
AGCO Corp COM 001084102 325 4,680 SH   SOLE   4,680 0 0
AT & T, Inc. New COM 00206r102 1,144 36,476 SH   SOLE   36,476 0 0
AbbVie, Inc. COM 00287y109 2,216 27,500 SH   SOLE   27,500 0 0
Abbott Laboratories COM 002824100 7,868 98,429 SH   SOLE   98,429 0 0
Adobe Systems Inc COM 00724F101 255 957 SH   SOLE   957 0 0
Alaska Air Group Inc. COM 011659109 700 12,465 SH   SOLE   12,465 0 0
Alphabet, Inc Non-Voting Class COM 02079k107 264 225 SH   SOLE   225 0 0
Alphabet, Inc Voting Class COM 02079k305 3,096 2,631 SH   SOLE   2,631 0 0
Altria Group Inc. COM 02209s103 9,022 157,089 SH   SOLE   157,089 0 0
Amazon.com, Inc. COM 023135106 215 121 SH   SOLE   121 0 0
American Express Co. COM 025816109 996 9,108 SH   SOLE   9,108 0 0
American International Group COM 026874784 4,480 104,037 SH   SOLE   104,037 0 0
Ameriprise Financial Inc. COM 03076c106 608 4,748 SH   SOLE   4,748 0 0
Amgen Inc. COM 031162100 1,160 6,108 SH   SOLE   6,108 0 0
Anthem, Inc. COM 036752103 13,574 47,299 SH   SOLE   47,299 0 0
Apple, Inc. COM 037833100 1,624 8,550 SH   SOLE   8,550 0 0
Automatic Data Processing COM 053015103 1,521 9,522 SH   SOLE   9,522 0 0
Bank of America Corp COM 060505104 9,366 339,481 SH   SOLE   339,481 0 0
Bank of New York Mellon Corp COM 064058100 13,307 263,879 SH   SOLE   263,879 0 0
Becton Dickinson & Co COM 075887109 5,251 21,025 SH   SOLE   21,025 0 0
Berkshire Hathaway Inc. Class COM 084670108 301 1 SH   SOLE   1 0 0
Berkshire Hathaway Inc. Class COM 084670702 5,028 25,030 SH   SOLE   25,030 0 0
Biogen Inc. COM 09062x103 6,207 26,257 SH   SOLE   26,257 0 0
Boeing Company COM 097023105 4,996 13,099 SH   SOLE   13,099 0 0
Bristol Myers Squibb Co. COM 110122108 279 5,844 SH   SOLE   5,844 0 0
CDK Global, Inc. COM 12508e101 247 4,192 SH   SOLE   4,192 0 0
CVS Health Corp. COM 126650100 4,655 86,323 SH   SOLE   86,323 0 0
Caterpillar Inc. COM 149123101 552 4,077 SH   SOLE   4,077 0 0
Celanese Corp COM 150870103 2,972 30,135 SH   SOLE   30,135 0 0
Central Pacific Financial Co COM 154760409 3,024 104,847 SH   SOLE   104,847 0 0
CenturyLink Inc. COM 156700106 556 46,400 SH   SOLE   46,400 0 0
Cerner Corporation COM 156782104 4,994 87,290 SH   SOLE   87,290 0 0
Chevron Corp. COM 166764100 2,976 24,159 SH   SOLE   24,159 0 0
Cigna Corp COM 125523100 3,540 22,013 SH   SOLE   22,013 0 0
Cisco Sys Inc. COM 17275R102 2,314 42,866 SH   SOLE   42,866 0 0
Citigroup Inc. COM 172967424 4,926 79,169 SH   SOLE   79,169 0 0
Coca-Cola Company COM 191216100 5,689 121,406 SH   SOLE   121,406 0 0
Cognizant Technology Solutions COM 192446102 2,753 37,998 SH   SOLE   37,998 0 0
Comcast Corp Cl A COM 20030n101 4,170 104,306 SH   SOLE   104,306 0 0
ConAgra Foods Inc. COM 205887102 768 27,675 SH   SOLE   27,675 0 0
ConocoPhillips COM 20825c104 2,006 30,060 SH   SOLE   30,060 0 0
Corning Inc COM 219350105 5,705 172,351 SH   SOLE   172,351 0 0
Costco Wholesale Corp COM 22160k105 2,356 9,728 SH   SOLE   9,728 0 0
Cypress Semiconductor COM 232806109 159 10,650 SH   SOLE   10,650 0 0
DR Horton, Inc COM 23331a109 1,061 25,650 SH   SOLE   25,650 0 0
Delta Airlines - New COM 247361702 692 13,400 SH   SOLE   13,400 0 0
Discovery,Inc. Series A COM 25470f104 5,691 210,622 SH   SOLE   210,622 0 0
Discovery,Inc. Series C COM 25470F302 213 8,391 SH   SOLE   8,391 0 0
DowDuPont Inc. COM 26078j100 9,319 174,803 SH   SOLE   174,803 0 0
Dunkin Brands Group, Inc. COM 265504100 302 4,025 SH   SOLE   4,025 0 0
Exxon Mobil Corp COM 30231G102 1,117 13,820 SH   SOLE   13,820 0 0
Facebook, Inc. COM 30303m102 1,793 10,755 SH   SOLE   10,755 0 0
Fastenal Co. COM 311900104 212 3,300 SH   SOLE   3,300 0 0
Fedex Corp COM 31428X106 2,694 14,850 SH   SOLE   14,850 0 0
Fox Corporation Class A COM 35137L105 241 6,575 SH   SOLE   6,575 0 0
Franklin Resources Inc. COM 354613101 4,623 139,488 SH   SOLE   139,488 0 0
GAMCO Investors Inc. COM 361438104 205 10,000 SH   SOLE   10,000 0 0
Gates Industrial Corporation P COM g39108108 163 11,357 SH   SOLE   11,357 0 0
General Electric Co. COM 369604103 234 23,454 SH   SOLE   23,454 0 0
General Mills COM 370334104 287 5,546 SH   SOLE   5,546 0 0
General Motors Company COM 37045v100 1,287 34,699 SH   SOLE   34,699 0 0
Gilead Sciences Inc. COM 375558103 769 11,830 SH   SOLE   11,830 0 0
H & R Block Inc. COM 093671105 1,606 67,102 SH   SOLE   67,102 0 0
HP Inc. COM 40434L105 263 13,543 SH   SOLE   13,543 0 0
Hewlett Packard Enterprise Co. COM 42824c109 231 14,965 SH   SOLE   14,965 0 0
Home Depot Inc. COM 437076102 5,282 27,526 SH   SOLE   27,526 0 0
Intel Corp. COM 458140100 1,572 29,279 SH   SOLE   29,279 0 0
Interpublic Group COM 460690100 216 10,268 SH   SOLE   10,268 0 0
IsoRay, Inc. COM 46489v104 5 14,218 SH   SOLE   14,218 0 0
J.M. Smucker Co. COM 832696405 1,498 12,858 SH   SOLE   12,858 0 0
Johnson & Johnson COM 478160104 13,532 96,805 SH   SOLE   96,805 0 0
Keurig Dr. Pepper Inc. COM 49271v100 426 15,223 SH   SOLE   15,223 0 0
Kroger Co. COM 501044101 9,728 395,438 SH   SOLE   395,438 0 0
Laboratory Corp. of America COM 50540r409 221 1,445 SH   SOLE   1,445 0 0
Lamb Weston Holdings COM 513272104 1,141 15,224 SH   SOLE   15,224 0 0
Legg Mason Inc. COM 524901105 417 15,220 SH   SOLE   15,220 0 0
Lincoln Educational COM 533535100 613 197,668 SH   SOLE   197,668 0 0
Lloyds TSB Group COM 539439109 125 39,000 SH   SOLE   39,000 0 0
Lowes Companies COM 548661107 3,970 36,270 SH   SOLE   36,270 0 0
Manitex Intl COM 563420108 1,522 198,981 SH   SOLE   198,981 0 0
ManpowerGroup Inc. COM 56418h100 393 4,750 SH   SOLE   4,750 0 0
Marsh & McLennan Co. COM 571748102 3,522 37,512 SH   SOLE   37,512 0 0
Mastercard Inc. COM 57636q104 13,324 56,590 SH   SOLE   56,590 0 0
McDonalds Corp COM 580135101 2,603 13,705 SH   SOLE   13,705 0 0
Merck & Co.Inc. New COM 58933y105 10,808 129,956 SH   SOLE   129,956 0 0
Microsoft Corp. COM 594918104 15,201 128,885 SH   SOLE   128,885 0 0
Molson Coors Brewing Co COM 60871r209 6,404 107,364 SH   SOLE   107,364 0 0
Mondelez International, Inc. COM 609207105 1,967 39,410 SH   SOLE   39,410 0 0
Monster Beverage Corp. COM 61174x109 1,899 34,800 SH   SOLE   34,800 0 0
Nike Inc Class B COM 654106103 1,398 16,600 SH   SOLE   16,600 0 0
Oracle Corp COM 68389X105 6,309 117,462 SH   SOLE   117,462 0 0
Paychex Inc. COM 704326107 3,611 45,025 SH   SOLE   45,025 0 0
Pepsico Inc. COM 713448108 13,423 109,533 SH   SOLE   109,533 0 0
Pfizer Inc. COM 717081103 3,109 73,205 SH   SOLE   73,205 0 0
Philip Morris International COM 718172109 18,303 207,071 SH   SOLE   207,071 0 0
Phillips 66 COM 718546104 1,655 17,386 SH   SOLE   17,386 0 0
Procter & Gamble Co. COM 742718109 3,237 31,107 SH   SOLE   31,107 0 0
Pyxus International Inc. COM 74737v106 351 14,710 SH   SOLE   14,710 0 0
Quest Diagnostics Inc. COM 74834L100 3,531 39,270 SH   SOLE   39,270 0 0
Raytheon Company COM 755111507 2,276 12,500 SH   SOLE   12,500 0 0
RumbleOn, Inc. COM 781386206 316 64,009 SH   SOLE   64,009 0 0
SM Energy Company COM 78454L100 190 10,840 SH   SOLE   10,840 0 0
Sally Beauty Holdings Inc. COM 79546e104 1,740 94,536 SH   SOLE   94,536 0 0
Starbucks Corp COM 855244109 856 11,518 SH   SOLE   11,518 0 0
Tapestry Inc. COM 876030107 318 9,795 SH   SOLE   9,795 0 0
The Kraft Heinz Company COM 500754106 429 13,146 SH   SOLE   13,146 0 0
The Mosaic Company COM 61945c103 1,430 52,356 SH   SOLE   52,356 0 0
The Travelers Companies Inc. COM 89417e109 8,540 62,261 SH   SOLE   62,261 0 0
The Walt Disney Co. COM 254687106 1,831 16,489 SH   SOLE   16,489 0 0
US Bancorp Delaware New COM 902973304 673 13,960 SH   SOLE   13,960 0 0
Union Pacific Corp COM 907818108 1,799 10,759 SH   SOLE   10,759 0 0
United Parcel Service Inc. COM 911312106 2,914 26,078 SH   SOLE   26,078 0 0
UnitedHealth Group Inc. COM 91324p102 21,759 87,999 SH   SOLE   87,999 0 0
Unum Group COM 91529y106 2,524 74,615 SH   SOLE   74,615 0 0
Valero Energy Corp. COM 91913y100 5,419 63,876 SH   SOLE   63,876 0 0
Verizon Communications COM 92343V104 2,072 35,034 SH   SOLE   35,034 0 0
Viacom Inc. Class B COM 92553p201 688 24,495 SH   SOLE   24,495 0 0
Visa, Inc. COM 92826c839 6,908 44,228 SH   SOLE   44,228 0 0
Waddell & Reed Financial COM 930059100 426 24,658 SH   SOLE   24,658 0 0
Wal Mart Stores COM 931142103 5,243 53,762 SH   SOLE   53,762 0 0
Washington Federal COM 938824109 1,383 47,872 SH   SOLE   47,872 0 0
Weight Watchers Intl. Inc. COM 948626106 312 15,507 SH   SOLE   15,507 0 0
Wells Fargo & Co. COM 949746101 1,414 29,262 SH   SOLE   29,262 0 0
Western Union Company COM 959802109 931 50,406 SH   SOLE   50,406 0 0
Weyerhaeuser Co. COM 962166104 357 13,552 SH   SOLE   13,552 0 0
Yum! Brands, Inc. COM 988498101 1,311 13,137 SH   SOLE   13,137 0 0
Zimmer Biomet Holdings COM 98956p102 10,891 85,289 SH   SOLE   85,289 0 0
Alkermes PLC FOR g01767105 1,009 27,651 SH   SOLE   27,651 0 0
Allegion PLC FOR g0176j109 330 3,637 SH   SOLE   3,637 0 0
Allergan PLC FOR g0177j108 1,246 8,510 SH   SOLE   8,510 0 0
America Movil ADR FOR 02364W105 4,975 348,369 SH   SOLE   348,369 0 0
Arcos Dorados Hldgs. FOR g0457f107 1,225 170,870 SH   SOLE   170,870 0 0
BP p.l.c. FOR 055622104 9,496 217,204 SH   SOLE   217,204 0 0
British American Tobacco FOR 110448107 2,773 66,460 SH   SOLE   66,460 0 0
Colliers International Group FOR 194693107 478 7,160 SH   SOLE   7,160 0 0
Credit Suisse Group ADR FOR 225401108 2,551 218,943 SH   SOLE   218,943 0 0
Diageo PLC ADR FOR 25243q205 2,143 13,099 SH   SOLE   13,099 0 0
Enbridge Inc. FOR 29250n105 215 5,942 SH   SOLE   5,942 0 0
FirstService Corp Voting Share FOR 33767e103 662 7,410 SH   SOLE   7,410 0 0
Glaxo SmithKline PLC FOR 37733W105 2,590 61,982 SH   SOLE   61,982 0 0
Ingersoll Rand Co FOR g47791101 1,123 10,400 SH   SOLE   10,400 0 0
LyondellBasell Industries N.V. FOR n53745100 6,074 72,238 SH   SOLE   72,238 0 0
Medtronic PLC FOR g5960L103 13,742 150,873 SH   SOLE   150,873 0 0
Nokia Corp Sponsored ADR FOR 654902204 75 13,117 SH   SOLE   13,117 0 0
Royal Dutch Shell PLC A FOR 780259206 1,246 19,903 SH   SOLE   19,903 0 0
SK Telecom ADR FOR 78440p108 224 9,158 SH   SOLE   9,158 0 0
Taiwan Semiconductor Manufactu FOR 874039100 225 5,487 SH   SOLE   5,487 0 0
Telefonica S.A. ADR FOR 879382208 3,267 390,833 SH   SOLE   390,833 0 0
Textainer Group Holdings Limit FOR g8766e109 867 89,825 SH   SOLE   89,825 0 0
Unilever NV New York Shs FOR 904784709 5,822 99,878 SH   SOLE   99,878 0 0
Yum China Holdings, Inc. FOR 98850p109 599 13,337 SH   SOLE   13,337 0 0