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
ABB LTD-REG COM 007108899 1,159,929 57,730 SH   SOLE   0 0 57,730
ABBOTT LABS COM 002824100 2,216,035 26,350 SH   SOLE   20,450 0 5,900
ABBVIE INC. COM 00287Y109 90,900 1,250 SH   SOLE   1,250 0 0
ADECCO GROUP AG-REG COM 007110720 555,916 9,240 SH   SOLE   0 0 9,240
ADOBE SYS INC. COM 00724F101 176,790 600 SH   SOLE   600 0 0
AEON MALL CO LTD COM 006534202 385,402 25,600 SH   SOLE   0 0 25,600
AES CORP COM 00130H105 1,158,954 69,150 SH   SOLE   52,750 0 16,400
AGNC INVESTMENT CORP COM 00123Q104 732,511 43,550 SH   SOLE   33,850 0 9,700
AIA GROUP LTD COM 00B4TX8S1 11,862 1,100 SH   SOLE   0 0 1,100
AIR LIQUIDE SA COM 00B1YXBJ7 531,791 3,795 SH   SOLE   0 0 3,795
AIR PROD & CHEM. COM 009158106 1,267,672 5,600 SH   SOLE   4,400 0 1,200
AKZO NOBEL COM 00BJ2KSG2 611,247 6,495 SH   SOLE   0 0 6,495
ALLIANZ SE-REG COM 005231485 459,192 1,902 SH   SOLE   0 0 1,902
ALLSTATE CORP. COM 020002101 91,521 900 SH   SOLE   900 0 0
ALLY FINANCIAL INC COM 02005N100 1,203,032 38,820 SH   SOLE   29,620 0 9,200
ALPHABET INC. CL A COM 02079K305 1,461,780 1,350 SH   SOLE   1,050 0 300
ALPHABET INC. CL C COM 02079K107 1,426,801 1,320 SH   SOLE   1,070 0 250
ALTRA HOLDINGS INC COM 02208R106 116,610 3,250 SH   SOLE   3,250 0 0
ALTRIA GROUP COM 02209S103 1,214,527 25,650 SH   SOLE   20,000 0 5,650
AMADEUS IT GROUP SA COM 00B3MSM28 532,852 6,717 SH   SOLE   0 0 6,717
AMAZON COM COM 023135106 530,216 280 SH   SOLE   280 0 0
AMCOR LIMITED COM 006066608 740,543 65,181 SH   SOLE   0 0 65,181
AMER EXPRESS CO. COM 025816109 98,752 800 SH   SOLE   800 0 0
AMER. ELEC. PWR COM 025537101 1,117,727 12,700 SH   SOLE   9,700 0 3,000
AMEREN CORP. COM 023608102 146,464 1,950 SH   SOLE   1,950 0 0
AMERICAN TOWER CORP. COM 03027X100 1,210,344 5,920 SH   SOLE   4,620 0 1,300
AMERICAN WTR WKS CO COM 030420103 92,800 800 SH   SOLE   800 0 0
AMERIPRISE FINANCIAL COM 03076C106 1,133,700 7,810 SH   SOLE   6,010 0 1,800
AMGEN INC. COM 031162100 101,354 550 SH   SOLE   550 0 0
ANSYS INC COM 03662Q105 102,410 500 SH   SOLE   500 0 0
ANTHEM INC. COM 036752103 1,213,503 4,300 SH   SOLE   3,400 0 900
AON CORP ADR G0408V102 1,868,046 9,680 SH   SOLE   0 0 9,680
APPLE INC. COM 037833100 653,136 3,300 SH   SOLE   3,300 0 0
APPLIED INDL TECH COM 03820C105 101,524 1,650 SH   SOLE   1,650 0 0
APTIV PLC ADR G6095L109 514,079 6,360 SH   SOLE   0 0 6,360
ARCH CAPITAL GP LTD. ADR G0450A105 1,500,628 40,470 SH   SOLE   0 0 40,470
ARES CAP CORP COM 04010L103 1,251,207 69,744 SH   SOLE   53,244 0 16,500
AT&T INC. COM 00206R102 4,063,087 121,250 SH   SOLE   93,650 0 27,600
AUST & NZ BNKG ADR 052528304 692,218 34,890 SH   SOLE   0 0 34,890
AUTO DATA PROCESS COM 053015103 99,198 600 SH   SOLE   600 0 0
AUTOLIV INC-SWED DEP RECE COM 005247374 242,313 3,423 SH   SOLE   0 0 3,423
AUTOZONE INC COM 053332102 109,947 100 SH   SOLE   100 0 0
AVANGRID INC COM 05351W103 90,900 1,800 SH   SOLE   1,800 0 0
AXIS CAPITAL HDS ADR G0692U109 1,091,595 18,300 SH   SOLE   0 0 18,300
BAE SYS PLC ADR 05523R107 1,071,742 42,750 SH   SOLE   0 0 42,750
BAIDU COM INC ADR 056752108 199,512 1,700 SH   SOLE   0 0 1,700
BAKER HUGHES A GE COM 05722G100 749,983 30,450 SH   SOLE   25,650 0 4,800
BANCO BILBAO VIZCAYA ARGE COM 005501906 372,136 66,459 SH   SOLE   0 0 66,459
BANDAI NAMCO HOLDINGS INC COM 00B0JDQD4 1,368,907 28,200 SH   SOLE   0 0 28,200
BANK OF AMERICA COM 060505104 4,328,250 149,250 SH   SOLE   115,250 0 34,000
BAXTER INTL INC. COM 071813109 1,142,505 13,950 SH   SOLE   10,650 0 3,300
BAYER AG-REG COM 005069211 881,083 12,696 SH   SOLE   0 0 12,696
BEAZER HOMES USA COM 07556Q881 7,976 830 SH   SOLE   830 0 0
BECTON DICKINSON & CO COM 075887109 2,111,844 8,380 SH   SOLE   8,380 0 0
BEIERSDORF AG COM 005107401 653,650 5,438 SH   SOLE   0 0 5,438
BERKSHIRE HATH. B COM 084670702 5,062,787 23,750 SH   SOLE   18,350 0 5,400
BERKSHIRE HATHAWAY A COM 084670108 2,865,150 9 SH   SOLE   7 0 2
BIO-TECHNE CORP COM 09073M104 93,820 450 SH   SOLE   450 0 0
BLACK HILLS CORP COM 092113109 1,094,380 14,000 SH   SOLE   10,700 0 3,300
BOEING CO. COM 097023105 1,226,714 3,370 SH   SOLE   2,670 0 700
BOOKING HOLDINGS INC. COM 09857L108 93,735 50 SH   SOLE   50 0 0
BRISTOL MYERS SQUIBB COM 110122108 1,237,601 27,290 SH   SOLE   21,290 0 6,000
BRITISH AMERICAN TOBACCO COM 000287580 17,528 501 SH   SOLE   0 0 501
BROADCOM INC. COM 11135F101 3,022,530 10,500 SH   SOLE   3,550 0 6,950
CABLE ONE INC. COM 12685J105 1,229,539 1,050 SH   SOLE   850 0 200
CANADIAN NATL RAILWAY CO COM 002180632 988,706 10,660 SH   SOLE   0 0 10,660
CANADIAN PACIFIC RAILWAY COM 002793115 722,247 3,060 SH   SOLE   0 0 3,060
CAPITAL ONE FINL COM 14040H105 95,277 1,050 SH   SOLE   1,050 0 0
CARLSBERG AS-B COM 004169219 718,572 5,412 SH   SOLE   0 0 5,412
CASEYS GEN STORES COM 147528103 109,193 700 SH   SOLE   700 0 0
CATERPILLAR TRACTOR COM 149123101 102,217 750 SH   SOLE   750 0 0
CBS CORP. COM 124857202 1,140,215 22,850 SH   SOLE   17,450 0 5,400
CGI GROUP INC - CL A COM 00BJ2L575 1,372,962 17,820 SH   SOLE   0 0 17,820
CHARLES SCHWAB COM 808513105 90,427 2,250 SH   SOLE   2,250 0 0
CHARTER PLC COM 16119P108 1,244,817 3,150 SH   SOLE   2,450 0 700
CHEVRON CORP COM 166764100 3,285,216 26,400 SH   SOLE   20,300 0 6,100
CIGNA CORP. COM 125523100 1,142,237 7,250 SH   SOLE   5,550 0 1,700
CINTAS CORP COM 172908105 94,916 400 SH   SOLE   400 0 0
CISCO SYSTEMS COM 17275R102 4,011,709 73,300 SH   SOLE   56,700 0 16,600
CITIGROUP INC. COM 172967424 3,680,076 52,550 SH   SOLE   40,550 0 12,000
CITIZENS FINANCIAL GROUP COM 174610105 1,456,125 41,180 SH   SOLE   31,430 0 9,750
CLP HOLDINGS LTD COM 006097017 319,974 29,000 SH   SOLE   0 0 29,000
CME GROUP COM 12572Q105 1,232,598 6,350 SH   SOLE   4,950 0 1,400
COCA COLA COMPANY COM 191216100 91,656 1,800 SH   SOLE   1,800 0 0
COGNIZANT TECH. COM 192446102 1,141,020 18,000 SH   SOLE   13,700 0 4,300
COLGATE PALMOLIVE COM 194162103 93,171 1,300 SH   SOLE   1,300 0 0
COMCAST CORP-Cl A COM 20030N101 2,042,970 48,320 SH   SOLE   48,320 0 0
COMPASS GROUP PLC COM 00BD6K457 1,537,663 64,027 SH   SOLE   0 0 64,027
CONOCOPHILLIPS COM 20825C104 1,250,500 20,500 SH   SOLE   16,000 0 4,500
COPART INC COM 217204106 97,162 1,300 SH   SOLE   1,300 0 0
CORNING INC COM 219350105 1,724,637 51,900 SH   SOLE   40,300 0 11,600
COSTCO WHOLESALE COM 22160K105 1,242,022 4,700 SH   SOLE   3,700 0 1,000
CREDIT SAISON CO LTD COM 006591809 250,468 21,400 SH   SOLE   0 0 21,400
CROWN CASTLE INTL COM 22822V101 1,674,997 12,850 SH   SOLE   9,750 0 3,100
CSX CORP. COM 126408103 1,141,207 14,750 SH   SOLE   11,250 0 3,500
CUMMINS INC COM 231021106 1,456,390 8,500 SH   SOLE   6,500 0 2,000
CVS CAREMARK CORP COM 126650100 1,178,074 21,620 SH   SOLE   16,520 0 5,100
DANAHER CORP COM 235851102 1,579,266 11,050 SH   SOLE   8,750 0 2,300
DANONE COM 00B1Y9TB3 625,360 7,371 SH   SOLE   0 0 7,371
DBS GROUP HOLDINGS LTD COM 006175203 1,771,025 92,300 SH   SOLE   0 0 92,300
DELTA AIR LINES COM 247361702 1,167,915 20,580 SH   SOLE   15,680 0 4,900
DENSO CORP COM 006640381 610,066 14,500 SH   SOLE   0 0 14,500
DEUTSCHE BOERSE AG COM 007021963 830,167 5,860 SH   SOLE   0 0 5,860
DIAGEO PLC COM 000237400 1,168,655 27,135 SH   SOLE   0 0 27,135
DIGITAL RLTY TR COM 253868103 1,875,217 15,920 SH   SOLE   12,370 0 3,550
DISCOVER FINCL SERVICES COM 254709108 1,146,004 14,770 SH   SOLE   11,270 0 3,500
DISNEY WALT PRODTNS COM 254687106 1,480,184 10,600 SH   SOLE   8,400 0 2,200
DISTRIBUIDORA INTERNACION COM 00B55ZR92 15,944 26,417 SH   SOLE   0 0 26,417
DOMINION RESOURCES COM 25746U109 1,121,140 14,500 SH   SOLE   11,100 0 3,400
DOW INC. COM 260557103 1,235,906 25,064 SH   SOLE   19,564 0 5,500
E.ON SE COM 004942904 353,492 32,500 SH   SOLE   0 0 32,500
EASTMAN CHEM CO COM 277432100 182,901 2,350 SH   SOLE   2,350 0 0
ELI LILLY & CO. COM 532457108 1,236,416 11,160 SH   SOLE   8,660 0 2,500
ENEL SPA COM 007144569 369,190 52,800 SH   SOLE   0 0 52,800
ENGIE COM 00B0C2CQ3 361,560 23,800 SH   SOLE   0 0 23,800
ENTERGY CORP. COM 29364G103 2,006,106 19,490 SH   SOLE   14,890 0 4,600
EOG RESOURCES INC. COM 26875P101 163,030 1,750 SH   SOLE   1,750 0 0
EQUINIX INC COM 29444U700 1,164,910 2,310 SH   SOLE   1,810 0 500
ERSTE GROUP BANK AG COM 005289837 384,640 10,348 SH   SOLE   0 0 10,348
ESSILORLUXOTTICA COM 007212477 249,071 1,906 SH   SOLE   0 0 1,906
EVERGY INC COM 30034W106 96,240 1,600 SH   SOLE   1,600 0 0
EXELON CORP. COM 30161N101 1,716,252 35,800 SH   SOLE   27,300 0 8,500
EXXON MOBIL CORP. COM 30231G102 4,678,261 61,050 SH   SOLE   47,050 0 14,000
FACEBOOK INC. COM 30303M102 347,400 1,800 SH   SOLE   1,800 0 0
FACTSET RESH SYS COM 303075105 128,952 450 SH   SOLE   450 0 0
FAMILYMART UNY HOLDINGS C COM 006331276 973,989 40,800 SH   SOLE   0 0 40,800
FANUC CORP COM 006356934 638,189 3,450 SH   SOLE   0 0 3,450
FIFTH THIRD BANCORP COM 316773100 1,449,684 51,960 SH   SOLE   39,660 0 12,300
FIRST MERCHANTS CORP COM 320817109 117,490 3,100 SH   SOLE   3,100 0 0
FIRST REPUBLIC BANK/CA COM 33616C100 1,191,330 12,200 SH   SOLE   9,300 0 2,900
FLIR SYS INC COM 302445101 102,790 1,900 SH   SOLE   1,900 0 0
FOMENTO ECONOMICO MEX-SP ADR 344419106 451,822 4,670 SH   SOLE   0 0 4,670
FORD MOTOR CO. COM 345370860 1,181,565 115,500 SH   SOLE   88,100 0 27,400
FRESENIUS SE & CO KGAA COM 004352097 580,989 10,700 SH   SOLE   0 0 10,700
GALLAGHER ARTHUR CO. COM 363576109 1,568,737 17,910 SH   SOLE   13,910 0 4,000
GEBERIT AG-REG COM 00B1WGG93 890,486 1,904 SH   SOLE   0 0 1,904
GENERAL ELECTRIC CO. COM 369604103 642,075 61,150 SH   SOLE   61,150 0 0
GENERAL MTRS CO COM 37045V100 1,198,283 31,100 SH   SOLE   23,700 0 7,400
GENUINE PARTS COM 372460105 93,222 900 SH   SOLE   900 0 0
GILEAD SCIENCES INC. COM 375558103 1,230,268 18,210 SH   SOLE   14,210 0 4,000
GOLDMAN SACHS GROUP COM 38141G104 1,462,890 7,150 SH   SOLE   5,550 0 1,600
GOODYEAR TIRE RUBBER COM 382550101 77,265 5,050 SH   SOLE   5,050 0 0
GRIFOLS SA-ADR ADR 398438408 931,143 44,130 SH   SOLE   0 0 44,130
GROUPE BRUXELLES LAMBERT COM 007097328 424,268 4,318 SH   SOLE   0 0 4,318
GRUPO TELEVISA SA ADR 40049J206 105,162 12,460 SH   SOLE   0 0 12,460
HARTFORD FINCL. SRV COM 416515104 97,510 1,750 SH   SOLE   1,750 0 0
HCA INC. COM 40412C101 1,175,979 8,700 SH   SOLE   6,600 0 2,100
HEALTHCARE REALTY COM 421946104 117,450 3,750 SH   SOLE   3,750 0 0
HEICO CORP-CLASS A COM 422806208 93,860 908 SH   SOLE   908 0 0
HEINEKEN NV COM 007792559 875,654 7,835 SH   SOLE   0 0 7,835
HENKEL AG & CO KGAA VORZU COM 005076705 378,712 3,866 SH   SOLE   0 0 3,866
HERMES INTERNATIONAL COM 005253973 803,839 1,113 SH   SOLE   0 0 1,113
HESS CORP. COM 42809H107 1,184,309 18,630 SH   SOLE   14,230 0 4,400
HEXAGON AB-B SHS COM 00B1XFTL2 1,123,204 20,212 SH   SOLE   0 0 20,212
HOME DEPOT INC. COM 437076102 1,276,936 6,140 SH   SOLE   4,840 0 1,300
HONEYWELL INT'L COM 438516106 96,025 550 SH   SOLE   550 0 0
HOYA CORP COM 006441506 1,601,156 20,900 SH   SOLE   0 0 20,900
HP INC COM 40434L105 1,156,963 55,650 SH   SOLE   42,450 0 13,200
HUMANA INC. COM 444859102 106,120 400 SH   SOLE   400 0 0
HUNTINGTON INGALLS INDUS COM 446413106 101,133 450 SH   SOLE   450 0 0
IBERDROLA SA COM 00B288C92 361,375 36,200 SH   SOLE   0 0 36,200
ICICI BK LTD ADR 45104G104 157,816 12,535 SH   SOLE   0 0 12,535
ILLUMINA INC COM 452327109 110,445 300 SH   SOLE   300 0 0
IMPERIAL OIL LTD COM 002454241 114,878 4,140 SH   SOLE   0 0 4,140
IMPERIAL OIL LTD ADR 453038408 528,497 19,100 SH   SOLE   0 0 19,100
ING GROEP NV-CVA COM 00BZ57390 988,114 85,100 SH   SOLE   0 0 85,100
INSURANCE AUSTRALIA GROUP COM 006271026 774,974 133,698 SH   SOLE   0 0 133,698
INT'L BUSINESS MACH. COM 459200101 103,425 750 SH   SOLE   750 0 0
INT'L PAPER CO. COM 460146103 1,269,276 29,300 SH   SOLE   22,400 0 6,900
INTEL CORP. COM 458140100 3,551,954 74,200 SH   SOLE   57,300 0 16,900
INTL CONSOLIDATED AIRLINE COM 00B5M6XQ7 31,379 5,170 SH   SOLE   0 0 5,170
INTUITIVE SURGICAL INC COM 46120E602 104,910 200 SH   SOLE   200 0 0
INVESTOR AB-B SHS COM 005679591 911,942 18,967 SH   SOLE   0 0 18,967
ISS A/S COM 00BKJ9RT5 818,696 27,086 SH   SOLE   0 0 27,086
ITAU UNIBANCO HLDNG-PREF ADR 465562106 464,142 49,272 SH   SOLE   0 0 49,272
JAPAN TOBACCO INC COM 006474535 428,460 19,400 SH   SOLE   0 0 19,400
JEFFERIES FINANCIAL GP COM 47233W109 1,191,298 61,950 SH   SOLE   47,250 0 14,700
JOHN WOOD GROUP PLC COM 00B5N0P84 623,669 108,415 SH   SOLE   0 0 108,415
JOHNSON & JOHNSON COM 478160104 4,436,068 31,850 SH   SOLE   24,650 0 7,200
JPMORGAN CHASE & CO COM 46625H100 5,293,730 47,350 SH   SOLE   36,550 0 10,800
JULIUS BAER GROUP LTD COM 00B4R2R50 282,646 6,341 SH   SOLE   0 0 6,341
KBC GROEP NV COM 004497749 280,679 4,276 SH   SOLE   0 0 4,276
KDDI CORP COM 006248990 718,087 28,200 SH   SOLE   0 0 28,200
KELLOGG CO COM 487836108 1,098,721 20,510 SH   SOLE   15,660 0 4,850
KEYCORP COM 493267108 1,299,300 73,200 SH   SOLE   57,200 0 16,000
KIA MOTORS CORP COM 006490928 96,143 2,523 SH   SOLE   0 0 2,523
KIMBERLY CLARK CORP. COM 494368103 1,339,464 10,050 SH   SOLE   7,700 0 2,350
KINDER MORGAN INC COM 49456B101 1,131,696 54,200 SH   SOLE   41,300 0 12,900
KINGFISHER PLC COM 003319521 219,899 80,401 SH   SOLE   0 0 80,401
KOMATSU LTD COM 006496584 702,246 29,100 SH   SOLE   0 0 29,100
KROGER CO. COM 501044101 1,129,354 52,020 SH   SOLE   39,720 0 12,300
KUEHNE & NAGEL INTL AG-RE COM 00B142S60 433,214 2,915 SH   SOLE   0 0 2,915
LABORATORY AMER H COM 50540R409 121,030 700 SH   SOLE   700 0 0
LAUDER ESTEE COS. COM 518439104 1,155,424 6,310 SH   SOLE   4,810 0 1,500
LEAR CORP. COM 521865204 1,148,977 8,250 SH   SOLE   6,250 0 2,000
LEGRAND SA COM 00B11ZRK9 534,834 7,304 SH   SOLE   0 0 7,304
LENNAR CORP. COM 526057104 1,080,658 22,300 SH   SOLE   17,000 0 5,300
LENOVO GROUP LTD COM 006218089 134,746 174,000 SH   SOLE   0 0 174,000
LINDE PLC COM 00BYWD9S5 154,900 770 SH   SOLE   0 0 770
LOCKHEED MARTIN COM 539830109 1,261,484 3,470 SH   SOLE   2,720 0 750
LOWES COS INC. COM 548661107 100,910 1,000 SH   SOLE   1,000 0 0
MARATHON PETROLEUM CORP COM 56585A102 1,360,678 24,350 SH   SOLE   19,050 0 5,300
MARSH & MCLENNON COM 571748102 1,388,520 13,920 SH   SOLE   10,620 0 3,300
MASTERCARD INC. COM 57636Q104 198,397 750 SH   SOLE   750 0 0
MAXIM INTERGRATED COM 57772K101 1,178,454 19,700 SH   SOLE   15,000 0 4,700
MCDONALDS CORP. COM 580135101 3,631,973 17,490 SH   SOLE   13,490 0 4,000
MCKESSON CORP COM 58155Q103 698,828 5,200 SH   SOLE   5,200 0 0
MEDTRONIC INC. ADR G5960L103 132,450 1,360 SH   SOLE   0 0 1,360
MERCK & CO. INC. COM 58933Y105 3,475,582 41,450 SH   SOLE   32,150 0 9,300
MERCK KGAA COM 004741844 821,560 7,845 SH   SOLE   0 0 7,845
METLIFE INC COM 59156R108 1,836,797 36,980 SH   SOLE   28,180 0 8,800
MFA FINANCIAL INC. COM 55272X102 91,904 12,800 SH   SOLE   12,800 0 0
MICROSOFT CORP. COM 594918104 2,459,506 18,360 SH   SOLE   15,110 0 3,250
MIDSOUTH BANKCORP COM 620076307 1,133,764 6,800 SH   SOLE   5,200 0 1,600
MONDELEZ INTERNATIONAL CL COM 609207105 1,218,140 22,600 SH   SOLE   17,700 0 4,900
MOODYS CORP COM 615369105 1,249,984 6,400 SH   SOLE   5,000 0 1,400
MORGAN STANLEY COM 617446448 1,263,919 28,850 SH   SOLE   22,550 0 6,300
MTU AERO ENGINES AG COM 00B09DHL9 2,078,498 8,712 SH   SOLE   0 0 8,712
MULTICHOICE GROUP COM 00BHZSKR4 3,344 352 SH   SOLE   0 0 352
NASPERS LTD-N SHS COM 006622691 97,484 402 SH   SOLE   0 0 402
NATIONAL GRID PLC COM 00BDR05C0 356,347 33,500 SH   SOLE   0 0 33,500
NEENAH PAPER INC COM 640079109 1,256,430 18,600 SH   SOLE   14,200 0 4,400
NESTLE SA-REG COM 007123870 2,779,409 26,815 SH   SOLE   0 0 26,815
NETEASE COM INC ADR 64110W102 115,097 450 SH   SOLE   0 0 450
NETFLIX COM INC COM 64110L106 128,562 350 SH   SOLE   350 0 0
NEW ORIENTAL EDUCATIO-SP COM 647581107 183,502 1,900 SH   SOLE   0 0 1,900
NEWMONT MINING COM 651639106 1,150,253 29,900 SH   SOLE   22,800 0 7,100
NEXTERA ENERGY INC COM 65339F101 1,126,730 5,500 SH   SOLE   4,200 0 1,300
NIKE INC B COM 654106103 100,740 1,200 SH   SOLE   1,200 0 0
NOBLE ENERGY INC COM 655044105 1,212,512 54,130 SH   SOLE   41,280 0 12,850
NORFOLK SOUTHERN CORP COM 655844108 1,195,980 6,000 SH   SOLE   4,600 0 1,400
NORTHROP GRUMMAN COM 666807102 1,163,196 3,600 SH   SOLE   2,800 0 800
NORTHWESTERN CORP COM 668074305 1,132,755 15,700 SH   SOLE   12,000 0 3,700
NOVOZYMES A/S-B SHARES COM 00B798FW0 1,223,419 26,195 SH   SOLE   0 0 26,195
NTT DOCOMO INC COM 006129277 422,093 18,100 SH   SOLE   0 0 18,100
NVIDIA CORP COM 67066G104 147,807 900 SH   SOLE   900 0 0
O'REILLY AUTO COM 67103H107 92,330 250 SH   SOLE   250 0 0
OCCIDENTAL PETRO. COM 674599105 1,754,772 34,900 SH   SOLE   27,400 0 7,500
OIL STS INTL COM 678026105 1,237,080 67,600 SH   SOLE   51,600 0 16,000
OLD DOMINION FGHT LINE COM 679580100 104,482 700 SH   SOLE   700 0 0
OLD REP INTL CORP. COM 680223104 92,877 4,150 SH   SOLE   4,150 0 0
OLYMPUS CORP COM 006658801 297,501 26,800 SH   SOLE   0 0 26,800
ONO PHARMACEUTICAL CO LTD COM 006660107 265,394 14,800 SH   SOLE   0 0 14,800
ORACLE SYSTEMS COM 68389X105 1,734,737 30,450 SH   SOLE   23,650 0 6,800
ORION CORP COM 006896849 14,081 948 SH   SOLE   0 0 948
ORION CORP/REPUBLIC OF KO COM 00BDVLJ72 147,564 1,842 SH   SOLE   0 0 1,842
ORKLA ASA COM 00B1VQF42 426,703 48,072 SH   SOLE   0 0 48,072
OSAKA GAS CO LTD COM 006661768 329,268 18,900 SH   SOLE   0 0 18,900
OVERSEA-CHINESE BANKING C COM 00B0F9V20 658,073 78,100 SH   SOLE   0 0 78,100
PANALPINA WELTTRANSPORT - COM 00B0KJTG5 774,234 3,358 SH   SOLE   0 0 3,358
PARGESA HOLDING SA-BR COM 00B0CDLF8 966,287 12,520 SH   SOLE   0 0 12,520
PARKER HANNIFIN COM 701094104 1,147,568 6,750 SH   SOLE   5,150 0 1,600
PARTNERS GROUP HOLDING AG COM 00B119QG0 1,338,907 1,702 SH   SOLE   0 0 1,702
PAYPAL HOLDINGS INC COM 70450Y103 154,521 1,350 SH   SOLE   1,350 0 0
PEOPLES UNITED FINCL COM 712704105 1,308,001 77,950 SH   SOLE   61,250 0 16,700
PEPSICO INC. COM 713448108 1,209,019 9,220 SH   SOLE   7,220 0 2,000
PERNOD RICARD SA COM 004682329 1,000,405 5,421 SH   SOLE   0 0 5,421
PFIZER INC. COM 717081103 3,801,330 87,750 SH   SOLE   67,850 0 19,900
PHILIP MORRIS INT'L COM 718172109 1,421,393 18,100 SH   SOLE   13,800 0 4,300
PNC FINCL SVCS COM 693475105 3,081,936 22,450 SH   SOLE   17,350 0 5,100
PORTLAND GENERAL ELECTRIC COM 736508847 1,417,087 26,160 SH   SOLE   20,660 0 5,500
PPG INDUSTRIES COM 693506107 1,139,090 9,760 SH   SOLE   7,460 0 2,300
PROCTOR & GAMBLE COM 742718109 4,122,840 37,600 SH   SOLE   29,100 0 8,500
PROLOGIS TR COM 74340W103 1,253,565 15,650 SH   SOLE   12,250 0 3,400
PRUDENTIAL FINL INC COM 744320102 1,833,150 18,150 SH   SOLE   13,850 0 4,300
PUBLIC STORAGE INC COM 74460D109 1,145,598 4,810 SH   SOLE   3,710 0 1,100
PUBLIC SVC ENTER. COM 744573106 1,729,308 29,400 SH   SOLE   22,400 0 7,000
QUALCOMM INC. COM 747525103 1,582,256 20,800 SH   SOLE   15,900 0 4,900
QUEST DIAGNOSTICS COM 74834L100 96,720 950 SH   SOLE   950 0 0
RANDSTAD HOLDING NV COM 005228658 368,087 6,692 SH   SOLE   0 0 6,692
RAYTHEON CO. COM 755111507 78,246 450 SH   SOLE   450 0 0
RECKITT BENCKISER GROUP P COM 00B24CGK7 809,916 10,241 SH   SOLE   0 0 10,241
RECRUIT HOLDINGS CO LTD COM 00BQRRZ00 1,374,353 41,200 SH   SOLE   0 0 41,200
REED ELSEVIER PLC COM 00B2B0DG9 1,531,064 63,001 SH   SOLE   0 0 63,001
REGIONS FINANCIAL CORP COM 7591EP100 1,183,397 79,210 SH   SOLE   60,410 0 18,800
RELIANCE STEEL & ALUM COM 759509102 1,201,674 12,700 SH   SOLE   9,700 0 3,000
RELX PLC COM 00BYWLC68 1,540,123 63,553 SH   SOLE   0 0 63,553
RIGHTMOVE PLC COM 00BGDT3G2 846,558 124,400 SH   SOLE   0 0 124,400
RINNAI CORP COM 006740582 228,884 3,600 SH   SOLE   0 0 3,600
ROCHE HOLDING AG-GENUSSCH COM 007110388 1,924,804 6,833 SH   SOLE   0 0 6,833
ROCKWELL INT'L COM 773903109 1,163,193 7,100 SH   SOLE   5,400 0 1,700
ROYAL BANK OF CANADA COM 002754383 1,364,239 17,130 SH   SOLE   0 0 17,130
ROYAL DUTCH SHELL A ADR 780259206 2,036,691 31,300 SH   SOLE   0 0 31,300
RPC INC COM 749660106 95,533 13,250 SH   SOLE   13,250 0 0
SALESFORCE COM INC COM 79466L302 128,971 850 SH   SOLE   850 0 0
SANTEN PHARMACEUTICAL CO COM 006776606 581,525 35,100 SH   SOLE   0 0 35,100
SAP AG COM 004846288 2,116,044 15,387 SH   SOLE   0 0 15,387
SASOL LTD ADR 803866300 601,619 24,210 SH   SOLE   0 0 24,210
SEMPRA ENERGY COM 816851109 1,113,264 8,100 SH   SOLE   6,200 0 1,900
SERVICENOW INC COM 81762P102 96,100 350 SH   SOLE   350 0 0
SHIN-ETSU CHEMICAL CO LTD COM 006804585 1,145,633 12,300 SH   SOLE   0 0 12,300
SIMON PPTY GP COM 828806109 1,223,762 7,660 SH   SOLE   5,960 0 1,700
SMITH & NEPHEW PLC COM 000922320 21,765 1,003 SH   SOLE   0 0 1,003
SMITHS GROUP PLC COM 00B1WY233 342,446 17,193 SH   SOLE   0 0 17,193
SODEXO COM 007062713 449,310 3,838 SH   SOLE   0 0 3,838
SONOCO PRODS CO COM 835495102 98,010 1,500 SH   SOLE   1,500 0 0
SONY FINANCIAL HOLDINGS I COM 00B249SN5 1,503,702 62,600 SH   SOLE   0 0 62,600
SOUTHERN CO. COM 842587107 1,122,184 20,300 SH   SOLE   15,500 0 4,800
STAG INDUSTRIAL INC COM 85254J102 93,744 3,100 SH   SOLE   3,100 0 0
STANDARD CHARTERED PLC COM 000408284 17,107 1,882 SH   SOLE   0 0 1,882
STANLEY ELECTRIC CO LTD COM 006841106 825,810 33,600 SH   SOLE   0 0 33,600
STARBUCKS CORP COM 855244109 146,703 1,750 SH   SOLE   1,750 0 0
STRYKER CORP. COM 863667101 1,151,248 5,600 SH   SOLE   4,300 0 1,300
SUMITOMO METAL MINING CO COM 006858849 448,162 15,000 SH   SOLE   0 0 15,000
SUNCOR ENERGY INC COM 00B3NB1P2 130,045 4,160 SH   SOLE   0 0 4,160
SUNCOR ENERGY INC ADR 867224107 1,032,331 33,130 SH   SOLE   0 0 33,130
SWEDBANK AB - A SHARES COM 004846523 289,219 19,243 SH   SOLE   0 0 19,243
SYNCHRONY FINANCIAL COM 87165B103 1,173,580 33,850 SH   SOLE   25,850 0 8,000
SYSCO COM 871829107 1,143,542 16,170 SH   SOLE   12,320 0 3,850
TAIWAN SEMICONDUCTOR ADR 874039100 127,694 3,260 SH   SOLE   0 0 3,260
TARGET CORP. COM 87612E106 1,143,252 13,200 SH   SOLE   10,100 0 3,100
TE CONNECTIVITY LTD ADR H84989104 1,615,809 16,870 SH   SOLE   0 0 16,870
TELEFONICA BRASIL-ADR COM 87936R106 250,895 19,270 SH   SOLE   0 0 19,270
TERADYNE INC. COM 880770102 100,611 2,100 SH   SOLE   2,100 0 0
TERUMO CORP COM 006885074 470,744 15,800 SH   SOLE   0 0 15,800
TEXAS INSTRS INC. COM 882508104 1,389,744 12,110 SH   SOLE   9,410 0 2,700
THERMO FISHER SCIENTIFIC COM 883556102 1,233,456 4,200 SH   SOLE   3,300 0 900
TJX COMPANIES INC. COM 872540109 1,249,026 23,620 SH   SOLE   18,420 0 5,200
TOKYO ELECTRON LTD COM 006895675 1,417,412 10,100 SH   SOLE   0 0 10,100
TOKYO GAS CO LTD COM 006895448 320,308 13,600 SH   SOLE   0 0 13,600
TORCHMARK CORP COM 891027104 93,933 1,050 SH   SOLE   1,050 0 0
TORONTO-DOMINION BANK COM 002897222 1,366,146 23,330 SH   SOLE   0 0 23,330
TRAVELERS COMPANIES COM 89417E109 89,712 600 SH   SOLE   600 0 0
TRI POINTE GROUP COM 87265H109 105,336 8,800 SH   SOLE   8,800 0 0
TWO HARBORS INVESTMENT CO COM 90187B408 1,140,934 90,050 SH   SOLE   68,650 0 21,400
TYSON FOOD CL A COM 902494103 1,146,508 14,200 SH   SOLE   10,800 0 3,400
UCB SA COM 005596991 570,992 6,876 SH   SOLE   0 0 6,876
UNILEVER PLC COM 00B10RZP7 356,001 5,715 SH   SOLE   0 0 5,715
UNILEVER PLC ADR 904767704 1,889,465 30,490 SH   SOLE   0 0 30,490
UNION PACIFIC CORP. COM 907818108 1,276,781 7,550 SH   SOLE   5,950 0 1,600
UNITED HEALTHCARE COM 91324P102 1,268,852 5,200 SH   SOLE   4,100 0 1,100
UNITED OVERSEAS BANK LTD COM 006916781 1,266,956 65,600 SH   SOLE   0 0 65,600
UNITED OVERSEAS BANK-SP A ADR 911271302 1,576,954 40,640 SH   SOLE   0 0 40,640
UNITED PARCEL SERVICE COM 911312106 103,270 1,000 SH   SOLE   1,000 0 0
UNITED TECHNOLOGIES COM 913017109 1,249,920 9,600 SH   SOLE   7,500 0 2,100
UNUMPROVIDENT COM 91529Y106 1,193,374 35,570 SH   SOLE   27,120 0 8,450
US FOODS HOLDING COM 912008109 94,764 2,650 SH   SOLE   2,650 0 0
V F CORP. COM 918204108 1,148,653 13,150 SH   SOLE   10,050 0 3,100
VALERO ENERGY NEW COM 91913Y100 1,208,813 14,120 SH   SOLE   10,720 0 3,400
VEONEER INC. COM 00BF2JMM5 59,220 3,433 SH   SOLE   0 0 3,433
VERISK ANALYTICS INC COM 92345Y106 95,199 650 SH   SOLE   650 0 0
VERIZON COMM. COM 92343V104 3,179,285 55,650 SH   SOLE   42,950 0 12,700
VERMILION ENERGY INC COM 00B607XS1 462,428 21,240 SH   SOLE   0 0 21,240
VESUVIUS PLC COM 00B82YXW8 638,848 91,599 SH   SOLE   0 0 91,599
VIPSHOP HOLDINGS LTD - AD ADR 92763W103 59,979 6,950 SH   SOLE   0 0 6,950
VISA INC COM 92826C839 1,884,753 10,860 SH   SOLE   8,560 0 2,300
VOPAK COM 005809428 481,779 10,433 SH   SOLE   0 0 10,433
VOYA FINANCIAL INC. COM 929089100 1,173,466 21,220 SH   SOLE   16,220 0 5,000
VULCAN MATLS COM 929160109 1,271,491 9,260 SH   SOLE   7,260 0 2,000
WAL MART STORES INC. COM 931142103 1,900,428 17,200 SH   SOLE   13,100 0 4,100
WASTE MGMT INC DEL. COM 94106L109 1,127,165 9,770 SH   SOLE   7,470 0 2,300
WATERS CORP. COM 941848103 96,858 450 SH   SOLE   450 0 0
WEC ENERGY GP COM 92939U106 162,572 1,950 SH   SOLE   1,950 0 0
WELLS FARGO & CO COM 949746101 2,966,964 62,700 SH   SOLE   48,500 0 14,200
WH SMITH PLC COM 00B2PDGW1 565,378 22,550 SH   SOLE   0 0 22,550
WILLIAMS COS. COM 969457100 1,188,896 42,400 SH   SOLE   32,400 0 10,000
WIRECARD AG COM 007508927 2,247,936 13,333 SH   SOLE   0 0 13,333
WORKDAY INC-CL. A COM 98138H101 92,511 450 SH   SOLE   450 0 0
WPP PLC COM 00B8KF9B4 682,060 54,122 SH   SOLE   0 0 54,122
WSFS FINL CORP COM 929328102 101,185 2,450 SH   SOLE   2,450 0 0
YAHOO JAPAN CORP COM 006084848 305,911 104,300 SH   SOLE   0 0 104,300
ZOETIS INC COM 98978V103 1,246,120 10,980 SH   SOLE   8,580 0 2,400