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 105,852 600 SH   SOLE   600 0 0
ABB LTD-REG COM 007108899 1,393,246 57,730 SH   SOLE   6,340 0 51,390
ABBOTT LABS COM 002824100 1,967,379 22,650 SH   SOLE   16,750 0 5,900
ABBVIE INC. COM 00287Y109 128,383 1,450 SH   SOLE   1,450 0 0
ADECCO GROUP AG-REG COM 007110720 584,162 9,240 SH   SOLE   1,050 0 8,190
ADOBE SYS INC. COM 00724F101 197,886 600 SH   SOLE   600 0 0
AEON MALL CO LTD COM 006534202 456,524 25,600 SH   SOLE   3,000 0 22,600
AES CORP COM 00130H105 1,171,115 58,850 SH   SOLE   42,450 0 16,400
AGNC INVESTMENT CORP COM 00123Q104 617,032 34,900 SH   SOLE   25,200 0 9,700
AIA GROUP LTD COM 00B4TX8S1 11,548 1,100 SH   SOLE   200 0 900
AIR LIQUIDE SA COM 00B1YXBJ7 591,286 4,174 SH   SOLE   451 0 3,723
AIR PROD & CHEM. COM 009158106 1,092,704 4,650 SH   SOLE   3,450 0 1,200
AKZO NOBEL COM 00BJ2KSG2 660,823 6,495 SH   SOLE   720 0 5,775
ALLIANT ENERGY CORP COM 018802108 98,496 1,800 SH   SOLE   1,800 0 0
ALLIANZ SE-REG COM 005231485 466,283 1,902 SH   SOLE   200 0 1,702
ALLSTATE CORP. COM 020002101 101,205 900 SH   SOLE   900 0 0
ALLY FINANCIAL INC COM 02005N100 1,009,091 33,020 SH   SOLE   23,820 0 9,200
ALPHABET INC. CL A COM 02079K305 1,553,692 1,160 SH   SOLE   860 0 300
ALPHABET INC. CL C COM 02079K107 1,310,280 980 SH   SOLE   730 0 250
ALTRIA GROUP COM 02209S103 1,127,966 22,600 SH   SOLE   16,950 0 5,650
AMADEUS IT GROUP SA COM 00B3MSM28 548,900 6,717 SH   SOLE   730 0 5,987
AMAZON COM COM 023135106 535,874 290 SH   SOLE   290 0 0
AMCOR LIMITED COM 006066608 713,402 65,181 SH   SOLE   7,080 0 58,101
AMER EXPRESS CO. COM 025816109 99,592 800 SH   SOLE   800 0 0
AMER. ELEC. PWR COM 025537101 1,020,708 10,800 SH   SOLE   7,800 0 3,000
AMERICAN TOWER CORP. COM 03027X100 1,153,696 5,020 SH   SOLE   3,720 0 1,300
AMERIPRISE FINANCIAL COM 03076C106 1,101,094 6,610 SH   SOLE   4,810 0 1,800
AMGEN INC. COM 031162100 132,589 550 SH   SOLE   550 0 0
ANSYS INC COM 03662Q105 102,964 400 SH   SOLE   400 0 0
ANTHEM INC. COM 036752103 1,026,902 3,400 SH   SOLE   2,500 0 900
AON CORP ADR G0408V102 2,016,247 9,680 SH   SOLE   1,080 0 8,600
APPLE INC. COM 037833100 924,998 3,150 SH   SOLE   3,150 0 0
APPLIED INDL TECH COM 03820C105 140,049 2,100 SH   SOLE   2,100 0 0
APPLIED MATLS INC. COM 038222105 119,028 1,950 SH   SOLE   1,950 0 0
APTIV PLC ADR G6095L109 604,009 6,360 SH   SOLE   710 0 5,650
ARCH CAPITAL GP LTD. ADR G0450A105 1,735,758 40,470 SH   SOLE   4,470 0 36,000
ARES CAP CORP COM 04010L103 1,108,631 59,444 SH   SOLE   42,944 0 16,500
AT&T INC. COM 00206R102 4,091,676 104,700 SH   SOLE   77,100 0 27,600
AUST & NZ BNKG ADR 052528304 600,980 34,890 SH   SOLE   3,790 0 31,100
AUTO DATA PROCESS COM 053015103 102,300 600 SH   SOLE   600 0 0
AUTOLIV INC-SWED DEP RECE COM 005247374 289,240 3,423 SH   SOLE   350 0 3,073
AUTOZONE INC COM 053332102 107,218 90 SH   SOLE   90 0 0
AXIS CAPITAL HDS ADR G0692U109 1,087,752 18,300 SH   SOLE   2,000 0 16,300
BAE SYS PLC ADR 05523R107 1,294,470 42,750 SH   SOLE   4,750 0 38,000
BAIDU COM INC ADR 056752108 214,880 1,700 SH   SOLE   200 0 1,500
BAKER HUGHES A GE COM 05722G100 608,713 23,750 SH   SOLE   18,950 0 4,800
BANDAI NAMCO HOLDINGS INC COM 00B0JDQD4 1,720,674 28,200 SH   SOLE   3,000 0 25,200
BANK OF AMERICA COM 060505104 4,495,833 127,650 SH   SOLE   93,650 0 34,000
BARNES GROUP COM 067806109 195,174 3,150 SH   SOLE   3,150 0 0
BAXTER INTL INC. COM 071813109 999,259 11,950 SH   SOLE   8,650 0 3,300
BAYER AG-REG COM 005069211 1,037,634 12,696 SH   SOLE   1,360 0 11,336
BEAZER HOMES USA COM 07556Q881 11,728 830 SH   SOLE   830 0 0
BECTON DICKINSON & CO COM 075887109 1,816,760 6,680 SH   SOLE   6,680 0 0
BEIERSDORF AG COM 005107401 651,008 5,438 SH   SOLE   610 0 4,828
BERKSHIRE HATH. B COM 084670702 4,688,550 20,700 SH   SOLE   15,300 0 5,400
BERKSHIRE HATHAWAY A COM 084670108 2,716,720 8 SH   SOLE   6 0 2
BIO-TECHNE CORP COM 09073M104 98,780 450 SH   SOLE   450 0 0
BLACK HILLS CORP COM 092113109 942,480 12,000 SH   SOLE   8,700 0 3,300
BOEING CO. COM 097023105 983,795 3,020 SH   SOLE   2,320 0 700
BRISTOL MYERS SQUIBB COM 110122108 1,498,195 23,340 SH   SOLE   17,340 0 6,000
BROADCOM INC. COM 11135F101 3,112,797 9,850 SH   SOLE   3,550 0 6,300
BYLINE BANCORP INC COM 124411109 105,678 5,400 SH   SOLE   5,400 0 0
CABLE ONE INC. COM 12685J105 1,235,430 830 SH   SOLE   630 0 200
CANADIAN NATL RAILWAY CO COM 002180632 965,668 10,660 SH   SOLE   1,160 0 9,500
CANADIAN PACIFIC RAILWAY COM 002793115 781,147 3,060 SH   SOLE   360 0 2,700
CAPITAL ONE FINL COM 14040H105 108,056 1,050 SH   SOLE   1,050 0 0
CARLSBERG AS-B COM 004169219 807,938 5,412 SH   SOLE   620 0 4,792
CATERPILLAR TRACTOR COM 149123101 110,760 750 SH   SOLE   750 0 0
CELANESE CORP COM 150870103 92,340 750 SH   SOLE   750 0 0
CGI GROUP INC - CL A COM 00BJ2L575 1,493,348 17,820 SH   SOLE   1,920 0 15,900
CHARTER PLC COM 16119P108 1,333,970 2,750 SH   SOLE   2,050 0 700
CHEVRON CORP COM 166764100 2,735,577 22,700 SH   SOLE   16,600 0 6,100
CIGNA CORP. COM 125523100 1,257,614 6,150 SH   SOLE   4,450 0 1,700
CINTAS CORP COM 172908105 94,178 350 SH   SOLE   350 0 0
CISCO SYSTEMS COM 17275R102 3,031,072 63,200 SH   SOLE   46,600 0 16,600
CITIGROUP INC. COM 172967424 3,611,028 45,200 SH   SOLE   33,200 0 12,000
CITIZENS FINANCIAL GROUP COM 174610105 1,424,599 35,080 SH   SOLE   25,330 0 9,750
CLP HOLDINGS LTD COM 006097017 304,820 29,000 SH   SOLE   1,794 0 27,206
CME GROUP COM 12572Q105 983,528 4,900 SH   SOLE   3,500 0 1,400
CMS ENERGY CORP. COM 125896100 94,260 1,500 SH   SOLE   1,500 0 0
COCA COLA COMPANY COM 191216100 116,235 2,100 SH   SOLE   2,100 0 0
COGNIZANT TECH. COM 192446102 942,704 15,200 SH   SOLE   10,900 0 4,300
COLGATE PALMOLIVE COM 194162103 89,492 1,300 SH   SOLE   1,300 0 0
COMCAST CORP-Cl A COM 20030N101 1,759,226 39,120 SH   SOLE   39,120 0 0
COMERICA INC COM 200340107 107,625 1,500 SH   SOLE   1,500 0 0
COMPASS GROUP PLC COM 00BD6K457 1,603,094 64,027 SH   SOLE   7,090 0 56,937
CONOCOPHILLIPS COM 20825C104 1,160,786 17,850 SH   SOLE   13,350 0 4,500
CORNING INC COM 219350105 1,302,673 44,750 SH   SOLE   33,150 0 11,600
COSTCO WHOLESALE COM 22160K105 1,234,464 4,200 SH   SOLE   3,200 0 1,000
CREDIT SAISON CO LTD COM 006591809 374,340 21,400 SH   SOLE   2,000 0 19,400
CROWN CASTLE INTL COM 22822V101 1,556,543 10,950 SH   SOLE   7,850 0 3,100
CSG SYS INTL COM 126349109 100,971 1,950 SH   SOLE   1,950 0 0
CSX CORP. COM 126408103 908,118 12,550 SH   SOLE   9,050 0 3,500
CUMMINS INC COM 231021106 1,306,408 7,300 SH   SOLE   5,300 0 2,000
CVS CAREMARK CORP COM 126650100 1,502,144 20,220 SH   SOLE   15,120 0 5,100
DANAHER CORP COM 235851102 1,404,342 9,150 SH   SOLE   6,850 0 2,300
DANONE COM 00B1Y9TB3 611,444 7,371 SH   SOLE   830 0 6,541
DBS GROUP HOLDINGS LTD COM 006175203 1,776,465 92,300 SH   SOLE   10,100 0 82,200
DELTA AIR LINES COM 247361702 1,022,230 17,480 SH   SOLE   12,580 0 4,900
DENSO CORP COM 006640381 662,590 14,500 SH   SOLE   2,000 0 12,500
DEUTSCHE BOERSE AG COM 007021963 921,885 5,860 SH   SOLE   660 0 5,200
DIAGEO PLC COM 000237400 1,150,487 27,135 SH   SOLE   2,980 0 24,155
DIGITAL RLTY TR COM 253868103 1,541,054 12,870 SH   SOLE   9,320 0 3,550
DISCOVER FINCL SERVICES COM 254709108 1,066,187 12,570 SH   SOLE   9,070 0 3,500
DISNEY WALT PRODTNS COM 254687106 1,352,291 9,350 SH   SOLE   7,150 0 2,200
DISTRIBUIDORA INTERNACION COM 00B55ZR92 3,025 26,417 SH   SOLE   2,940 0 23,477
DOMINION RESOURCES COM 25746U109 1,018,686 12,300 SH   SOLE   8,900 0 3,400
DOMTAR CORP COM 257559203 108,984 2,850 SH   SOLE   2,850 0 0
DONEGAL GROUP INC. CL A COM 257701201 97,812 6,600 SH   SOLE   6,600 0 0
DOW INC. COM 260557103 1,082,669 19,782 SH   SOLE   14,282 0 5,500
E.ON SE COM 004942904 347,447 32,500 SH   SOLE   2,000 0 30,500
EASTMAN CHEM CO COM 277432100 186,261 2,350 SH   SOLE   2,350 0 0
EATON VANCE COM 278265103 98,049 2,100 SH   SOLE   2,100 0 0
ELI LILLY & CO. COM 532457108 1,157,898 8,810 SH   SOLE   6,310 0 2,500
EMPIRE STATE REALTY TRUST COM 292104106 115,170 8,250 SH   SOLE   8,250 0 0
ENCOMPASS HEALTH CORP COM 29261A100 103,905 1,500 SH   SOLE   1,500 0 0
ENEL SPA COM 007144569 419,143 52,800 SH   SOLE   3,200 0 49,600
ENGIE COM 00B0C2CQ3 384,703 23,800 SH   SOLE   1,500 0 22,300
ENTERGY CORP. COM 29364G103 1,987,482 16,590 SH   SOLE   11,990 0 4,600
EOG RESOURCES INC. COM 26875P101 159,144 1,900 SH   SOLE   1,900 0 0
EQUINIX INC COM 29444U700 1,173,237 2,010 SH   SOLE   1,510 0 500
ERSTE GROUP BANK AG COM 005289837 389,820 10,348 SH   SOLE   1,070 0 9,278
ESSILORLUXOTTICA COM 007212477 290,542 1,906 SH   SOLE   210 0 1,696
EXELON CORP. COM 30161N101 1,390,495 30,500 SH   SOLE   22,000 0 8,500
EXXON MOBIL CORP. COM 30231G102 3,694,851 52,950 SH   SOLE   38,950 0 14,000
FACEBOOK INC. COM 30303M102 369,450 1,800 SH   SOLE   1,800 0 0
FACTSET RESH SYS COM 303075105 120,735 450 SH   SOLE   450 0 0
FAMILYMART UNY HOLDINGS C COM 006331276 985,507 40,800 SH   SOLE   4,000 0 36,800
FANUC CORP COM 006356934 645,397 3,450 SH   SOLE   100 0 3,350
FIDELITY NAT'L INFO SVCS COM 31620M106 104,318 750 SH   SOLE   750 0 0
FIFTH THIRD BANCORP COM 316773100 1,360,552 44,260 SH   SOLE   31,960 0 12,300
FIRST MERCHANTS CORP COM 320817109 108,134 2,600 SH   SOLE   2,600 0 0
FIRST REPUBLIC BANK/CA COM 33616C100 1,221,480 10,400 SH   SOLE   7,500 0 2,900
FLIR SYS INC COM 302445101 96,330 1,850 SH   SOLE   1,850 0 0
FOMENTO ECONOMICO MEX-SP ADR 344419106 441,362 4,670 SH   SOLE   520 0 4,150
FORD MOTOR CO. COM 345370860 914,190 98,300 SH   SOLE   70,900 0 27,400
FRESENIUS SE & CO KGAA COM 004352097 602,699 10,700 SH   SOLE   1,160 0 9,540
GALLAGHER ARTHUR CO. COM 363576109 1,357,980 14,260 SH   SOLE   10,260 0 4,000
GEBERIT AG-REG COM 00B1WGG93 1,068,057 1,904 SH   SOLE   200 0 1,704
GENERAL ELECTRIC CO. COM 369604103 482,112 43,200 SH   SOLE   43,200 0 0
GENERAL MTRS CO COM 37045V100 969,900 26,500 SH   SOLE   19,100 0 7,400
GILEAD SCIENCES INC. COM 375558103 1,020,836 15,710 SH   SOLE   11,710 0 4,000
GLOBE LIFE INC COM 37959E102 110,513 1,050 SH   SOLE   1,050 0 0
GOLDMAN SACHS GROUP COM 38141G104 1,402,573 6,100 SH   SOLE   4,500 0 1,600
GRIFOLS SA-ADR ADR 398438408 1,027,788 44,130 SH   SOLE   4,930 0 39,200
GROUPE BRUXELLES LAMBERT COM 007097328 455,420 4,318 SH   SOLE   460 0 3,858
GRUPO TELEVISA SA ADR 40049J206 146,156 12,460 SH   SOLE   1,360 0 11,100
HARTFORD FINCL. SRV COM 416515104 97,232 1,600 SH   SOLE   1,600 0 0
HCA INC. COM 40412C101 1,108,575 7,500 SH   SOLE   5,400 0 2,100
HEALTHCARE REALTY COM 421946104 95,105 2,850 SH   SOLE   2,850 0 0
HEINEKEN NV COM 007792559 834,801 7,835 SH   SOLE   870 0 6,965
HENKEL AG & CO KGAA VORZU COM 005076705 400,110 3,866 SH   SOLE   410 0 3,456
HERMES INTERNATIONAL COM 005253973 832,312 1,113 SH   SOLE   100 0 1,013
HESS CORP. COM 42809H107 1,057,602 15,830 SH   SOLE   11,430 0 4,400
HEXAGON AB-B SHS COM 00B1XFTL2 1,133,559 20,212 SH   SOLE   2,230 0 17,982
HOME DEPOT INC. COM 437076102 1,187,987 5,440 SH   SOLE   4,140 0 1,300
HONEYWELL INT'L COM 438516106 177,000 1,000 SH   SOLE   1,000 0 0
HOYA CORP COM 006441506 2,009,708 20,900 SH   SOLE   2,000 0 18,900
HP INC COM 40434L105 970,988 47,250 SH   SOLE   34,050 0 13,200
IBERDROLA SA COM 00B288C92 373,025 36,200 SH   SOLE   2,200 0 34,000
ICICI BK LTD ADR 45104G104 189,153 12,535 SH   SOLE   1,480 0 11,055
IMPERIAL OIL LTD COM 002454241 109,666 4,140 SH   SOLE   2,340 0 1,800
IMPERIAL OIL LTD ADR 453038408 505,577 19,100 SH   SOLE   200 0 18,900
ING GROEP NV-CVA COM 00BZ57390 1,020,968 85,100 SH   SOLE   9,160 0 75,940
INSURANCE AUSTRALIA GROUP COM 006271026 719,910 133,698 SH   SOLE   14,520 0 119,178
INT'L BUSINESS MACH. COM 459200101 100,530 750 SH   SOLE   750 0 0
INT'L PAPER CO. COM 460146103 1,146,645 24,900 SH   SOLE   18,000 0 6,900
INTEL CORP. COM 458140100 3,818,430 63,800 SH   SOLE   46,900 0 16,900
INTL CONSOLIDATED AIRLINE COM 00B5M6XQ7 42,806 5,170 SH   SOLE   570 0 4,600
INTUIT COM 461202103 117,869 450 SH   SOLE   450 0 0
INTUITIVE SURGICAL INC COM 46120E602 118,230 200 SH   SOLE   200 0 0
INVESTOR AB-B SHS COM 005679591 1,035,774 18,967 SH   SOLE   2,150 0 16,817
ISS A/S COM 00BKJ9RT5 650,398 27,086 SH   SOLE   2,970 0 24,116
ITAU UNIBANCO HLDNG-PREF ADR 465562106 450,839 49,272 SH   SOLE   5,330 0 43,942
JAPAN TOBACCO INC COM 006474535 434,235 19,400 SH   SOLE   0 0 19,400
JEFFERIES FINANCIAL GP COM 47233W109 1,235,186 57,800 SH   SOLE   43,100 0 14,700
JOHN WOOD GROUP PLC COM 00B5N0P84 572,337 108,415 SH   SOLE   11,830 0 96,585
JOHNSON & JOHNSON COM 478160104 3,996,838 27,400 SH   SOLE   20,200 0 7,200
JPMORGAN CHASE & CO COM 46625H100 5,652,670 40,550 SH   SOLE   29,750 0 10,800
JULIUS BAER GROUP LTD COM 00B4R2R50 326,954 6,341 SH   SOLE   720 0 5,621
KBC GROEP NV COM 004497749 321,875 4,276 SH   SOLE   460 0 3,816
KDDI CORP COM 006248990 844,119 28,200 SH   SOLE   3,000 0 25,200
KELLOGG CO COM 487836108 1,210,992 17,510 SH   SOLE   12,660 0 4,850
KEYCORP COM 493267108 1,164,812 57,550 SH   SOLE   41,550 0 16,000
KIA MOTORS CORP COM 006490928 96,648 2,523 SH   SOLE   0 0 2,523
KIMBERLY CLARK CORP. COM 494368103 1,162,298 8,450 SH   SOLE   6,100 0 2,350
KINDER MORGAN INC COM 49456B101 978,054 46,200 SH   SOLE   33,300 0 12,900
KINGFISHER PLC COM 003319521 231,129 80,401 SH   SOLE   8,790 0 71,611
KOMATSU LTD COM 006496584 707,451 29,100 SH   SOLE   2,900 0 26,200
KROGER CO. COM 501044101 1,281,938 44,220 SH   SOLE   31,920 0 12,300
KUEHNE & NAGEL INTL AG-RE COM 00B142S60 491,277 2,915 SH   SOLE   310 0 2,605
L3HARRIS TECHNOLOGIES INC COM 502431109 89,042 450 SH   SOLE   450 0 0
LABORATORY AMER H COM 50540R409 109,961 650 SH   SOLE   650 0 0
LAUDER ESTEE COS. COM 518439104 1,117,381 5,410 SH   SOLE   3,910 0 1,500
LEAR CORP. COM 521865204 953,540 6,950 SH   SOLE   4,950 0 2,000
LEGRAND SA COM 00B11ZRK9 595,556 7,304 SH   SOLE   810 0 6,494
LENNAR CORP. COM 526057104 1,060,010 19,000 SH   SOLE   13,700 0 5,300
LENOVO GROUP LTD COM 006218089 116,792 174,000 SH   SOLE   18,000 0 156,000
LINDE PLC COM 00BYWD9S5 164,913 770 SH   SOLE   770 0 0
LOCKHEED MARTIN COM 539830109 1,195,397 3,070 SH   SOLE   2,320 0 750
MARATHON PETROLEUM CORP COM 56585A102 1,262,238 20,950 SH   SOLE   15,650 0 5,300
MARSH & MCLENNON COM 571748102 1,328,007 11,920 SH   SOLE   8,620 0 3,300
MASCO CORP. COM 574599106 158,367 3,300 SH   SOLE   3,300 0 0
MASTERCARD INC. COM 57636Q104 268,731 900 SH   SOLE   900 0 0
MATTHEWS INTL CORP COM 577128101 97,334 2,550 SH   SOLE   2,550 0 0
MAXIM INTERGRATED COM 57772K101 1,033,368 16,800 SH   SOLE   12,100 0 4,700
MCDONALDS CORP. COM 580135101 2,942,413 14,890 SH   SOLE   10,890 0 4,000
MCKESSON CORP COM 58155Q103 511,784 3,700 SH   SOLE   3,700 0 0
MEDTRONIC INC. ADR G5960L103 154,292 1,360 SH   SOLE   160 0 1,200
MERCK & CO. INC. COM 58933Y105 3,205,988 35,250 SH   SOLE   25,950 0 9,300
MERCK KGAA COM 004741844 927,713 7,845 SH   SOLE   860 0 6,985
MERIDIAN BANCORP INC. COM 58958U103 102,459 5,100 SH   SOLE   5,100 0 0
METLIFE INC COM 59156R108 1,599,439 31,380 SH   SOLE   22,580 0 8,800
MICROSOFT CORP. COM 594918104 2,619,397 16,610 SH   SOLE   13,360 0 3,250
MIDSOUTH BANKCORP COM 620076307 934,612 5,800 SH   SOLE   4,200 0 1,600
MONDELEZ INTERNATIONAL CL COM 609207105 1,079,568 19,600 SH   SOLE   14,700 0 4,900
MOODYS CORP COM 615369105 1,282,014 5,400 SH   SOLE   4,000 0 1,400
MORGAN STANLEY COM 617446448 1,155,312 22,600 SH   SOLE   16,300 0 6,300
MTU AERO ENGINES AG COM 00B09DHL9 2,489,788 8,712 SH   SOLE   960 0 7,752
MULTICHOICE GROUP COM 00BHZSKR4 2,933 352 SH   SOLE   0 0 352
NASPERS LTD-N SHS COM 006622691 65,856 402 SH   SOLE   50 0 352
NATIONAL GRID PLC COM 00BDR05C0 419,072 33,500 SH   SOLE   2,100 0 31,400
NEENAH PAPER INC COM 640079109 1,112,794 15,800 SH   SOLE   11,400 0 4,400
NESTLE SA-REG COM 007123870 2,901,508 26,815 SH   SOLE   2,670 0 24,145
NETEASE COM INC ADR 64110W102 137,988 450 SH   SOLE   50 0 400
NETFLIX COM INC COM 64110L106 129,428 400 SH   SOLE   400 0 0
NEW ORIENTAL EDUCATIO-SP COM 647581107 230,375 1,900 SH   SOLE   200 0 1,700
NEWMONT MINING CORP COM 651639106 1,103,630 25,400 SH   SOLE   18,300 0 7,100
NEXTERA ENERGY INC COM 65339F101 1,222,908 5,050 SH   SOLE   3,750 0 1,300
NIKE INC B COM 654106103 121,572 1,200 SH   SOLE   1,200 0 0
NOBLE ENERGY INC COM 655044105 1,145,869 46,130 SH   SOLE   33,280 0 12,850
NORFOLK SOUTHERN CORP COM 655844108 970,650 5,000 SH   SOLE   3,600 0 1,400
NORTHROP GRUMMAN COM 666807102 1,031,910 3,000 SH   SOLE   2,200 0 800
NORTHWEST NATURAL HLDG COM 66765N105 99,536 1,350 SH   SOLE   1,350 0 0
NORTHWESTERN CORP COM 668074305 960,378 13,400 SH   SOLE   9,700 0 3,700
NOVOZYMES A/S-B SHARES COM 00B798FW0 1,282,796 26,195 SH   SOLE   2,820 0 23,375
NTT DOCOMO INC COM 006129277 505,984 18,100 SH   SOLE   2,000 0 16,100
NUCOR CORP COM 670346105 109,746 1,950 SH   SOLE   1,950 0 0
NVIDIA CORP COM 67066G104 141,180 600 SH   SOLE   600 0 0
OCCIDENTAL PETRO. COM 674599105 1,238,361 30,050 SH   SOLE   22,550 0 7,500
OIL STS INTL COM 678026105 939,456 57,600 SH   SOLE   41,600 0 16,000
OLD DOMINION FGHT LINE COM 679580100 104,379 550 SH   SOLE   550 0 0
OLYMPUS CORP COM 006658801 416,519 26,800 SH   SOLE   4,000 0 22,800
ONO PHARMACEUTICAL CO LTD COM 006660107 340,737 14,800 SH   SOLE   2,000 0 12,800
ORACLE SYSTEMS COM 68389X105 1,403,970 26,500 SH   SOLE   19,700 0 6,800
ORION CORP COM 006896849 14,592 948 SH   SOLE   100 0 848
ORION CORP/REPUBLIC OF KO COM 00BDVLJ72 168,041 1,842 SH   SOLE   210 0 1,632
ORKLA ASA COM 00B1VQF42 486,667 48,072 SH   SOLE   5,410 0 42,662
OSAKA GAS CO LTD COM 006661768 363,652 18,900 SH   SOLE   900 0 18,000
OVERSEA-CHINESE BANKING C COM 00B0F9V20 637,741 78,100 SH   SOLE   8,500 0 69,600
PANALPINA WELTTRANSPORT - COM 00B0KJTG5 911,326 3,358 SH   SOLE   0 0 3,358
PARGESA HOLDING SA-BR COM 00B0CDLF8 1,040,155 12,520 SH   SOLE   1,380 0 11,140
PARKER HANNIFIN COM 701094104 1,183,465 5,750 SH   SOLE   4,150 0 1,600
PARTNERS GROUP HOLDING AG COM 00B119QG0 1,559,720 1,702 SH   SOLE   0 0 1,702
PAYPAL HOLDINGS INC COM 70450Y103 146,030 1,350 SH   SOLE   1,350 0 0
PEOPLES UNITED FINCL COM 712704105 1,118,780 66,200 SH   SOLE   49,500 0 16,700
PEPSICO INC. COM 713448108 1,116,594 8,170 SH   SOLE   6,170 0 2,000
PERNOD RICARD SA COM 004682329 969,960 5,421 SH   SOLE   620 0 4,801
PFIZER INC. COM 717081103 3,012,942 76,900 SH   SOLE   57,000 0 19,900
PHILIP MORRIS INT'L COM 718172109 1,301,877 15,300 SH   SOLE   11,000 0 4,300
PNC FINCL SVCS COM 693475105 2,961,137 18,550 SH   SOLE   13,450 0 5,100
PORTLAND GENERAL ELECTRIC COM 736508847 1,191,674 21,360 SH   SOLE   15,860 0 5,500
PPG INDUSTRIES COM 693506107 1,102,627 8,260 SH   SOLE   5,960 0 2,300
PROCTOR & GAMBLE COM 742718109 4,015,535 32,150 SH   SOLE   23,650 0 8,500
PROLOGIS TR COM 74340W103 1,198,933 13,450 SH   SOLE   10,050 0 3,400
PROSUS NV COM 00BJDS7L3 30,021 402 SH   SOLE   50 0 352
PRUDENTIAL FINL INC COM 744320102 1,438,909 15,350 SH   SOLE   11,050 0 4,300
PUBLIC STORAGE INC COM 74460D109 853,970 4,010 SH   SOLE   2,910 0 1,100
PUBLIC SVC ENTER. COM 744573106 1,476,250 25,000 SH   SOLE   18,000 0 7,000
QUALCOMM INC. COM 747525103 1,570,494 17,800 SH   SOLE   12,900 0 4,900
QUEST DIAGNOSTICS COM 74834L100 90,772 850 SH   SOLE   850 0 0
RANDSTAD HOLDING NV COM 005228658 408,941 6,692 SH   SOLE   710 0 5,982
RECKITT BENCKISER GROUP P COM 00B24CGK7 831,507 10,241 SH   SOLE   1,100 0 9,141
RECRUIT HOLDINGS CO LTD COM 00BQRRZ00 1,553,980 41,200 SH   SOLE   4,000 0 37,200
REED ELSEVIER PLC COM 00B2B0DG9 1,590,342 63,001 SH   SOLE   6,970 0 56,031
REGIONS FINANCIAL CORP COM 7591EP100 1,158,472 67,510 SH   SOLE   48,710 0 18,800
RELIANCE STEEL & ALUM COM 759509102 1,293,408 10,800 SH   SOLE   7,800 0 3,000
RELX PLC COM 00BYWLC68 1,602,256 63,553 SH   SOLE   7,040 0 56,513
REXFORD INDUSTRIAL REALTY COM 76169C100 102,758 2,250 SH   SOLE   2,250 0 0
RIGHTMOVE PLC COM 00BGDT3G2 1,044,166 124,400 SH   SOLE   13,540 0 110,860
RINNAI CORP COM 006740582 283,230 3,600 SH   SOLE   200 0 3,400
ROCHE HOLDING AG-GENUSSCH COM 007110388 2,215,689 6,833 SH   SOLE   770 0 6,063
ROCKWELL INT'L COM 773903109 1,216,020 6,000 SH   SOLE   4,300 0 1,700
ROYAL BANK OF CANADA COM 002754383 1,357,322 17,130 SH   SOLE   1,880 0 15,250
ROYAL DUTCH SHELL A ADR 780259206 1,846,074 31,300 SH   SOLE   3,450 0 27,850
SAFETY INS GROUP COM 78648T100 83,277 900 SH   SOLE   900 0 0
SALESFORCE COM INC COM 79466L302 130,112 800 SH   SOLE   800 0 0
SANTEN PHARMACEUTICAL CO COM 006776606 673,739 35,100 SH   SOLE   4,100 0 31,000
SAP AG COM 004846288 2,078,155 15,387 SH   SOLE   1,670 0 13,717
SASOL LTD ADR 803866300 523,178 24,210 SH   SOLE   2,610 0 21,600
SEMPRA ENERGY COM 816851109 1,045,212 6,900 SH   SOLE   5,000 0 1,900
SERVICENOW INC COM 81762P102 112,928 400 SH   SOLE   400 0 0
SHIN-ETSU CHEMICAL CO LTD COM 006804585 1,364,969 12,300 SH   SOLE   900 0 11,400
SIMON PPTY GP COM 828806109 895,250 6,010 SH   SOLE   4,310 0 1,700
SMITH & NEPHEW PLC COM 000922320 24,349 1,003 SH   SOLE   100 0 903
SMITHS GROUP PLC COM 00B1WY233 384,239 17,193 SH   SOLE   1,870 0 15,323
SODEXO COM 007062713 455,156 3,838 SH   SOLE   410 0 3,428
SONOCO PRODS CO COM 835495102 101,838 1,650 SH   SOLE   1,650 0 0
SONY FINANCIAL HOLDINGS I COM 00B249SN5 1,513,805 62,600 SH   SOLE   7,200 0 55,400
SOUTHERN CO. COM 842587107 1,200,745 18,850 SH   SOLE   14,050 0 4,800
SPECTRUM BRANDS HDGS COM 84790A105 86,952 1,353 SH   SOLE   984 0 369
STAG INDUSTRIAL INC COM 85254J102 102,603 3,250 SH   SOLE   3,250 0 0
STANDARD CHARTERED PLC COM 000408284 17,761 1,882 SH   SOLE   200 0 1,682
STANLEY ELECTRIC CO LTD COM 006841106 983,188 33,600 SH   SOLE   3,900 0 29,700
STARBUCKS CORP COM 855244109 127,484 1,450 SH   SOLE   1,450 0 0
STRYKER CORP. COM 863667101 1,081,191 5,150 SH   SOLE   3,850 0 1,300
SUMITOMO METAL MINING CO COM 006858849 489,165 15,000 SH   SOLE   2,000 0 13,000
SUNCOR ENERGY INC COM 00B3NB1P2 136,533 4,160 SH   SOLE   460 0 3,700
SUNCOR ENERGY INC ADR 867224107 1,086,664 33,130 SH   SOLE   3,630 0 29,500
SWEDBANK AB - A SHARES COM 004846523 286,660 19,243 SH   SOLE   2,110 0 17,133
SYNCHRONY FINANCIAL COM 87165B103 1,035,288 28,750 SH   SOLE   20,750 0 8,000
SYSCO COM 871829107 1,169,332 13,670 SH   SOLE   9,820 0 3,850
TAIWAN SEMICONDUCTOR ADR 874039100 189,406 3,260 SH   SOLE   360 0 2,900
TARGET CORP. COM 87612E106 1,551,341 12,100 SH   SOLE   9,000 0 3,100
TE CONNECTIVITY LTD ADR H84989104 1,616,821 16,870 SH   SOLE   1,820 0 15,050
TELEFONICA BRASIL-ADR COM 87936R106 275,946 19,270 SH   SOLE   2,070 0 17,200
TERUMO CORP COM 006885074 564,831 15,800 SH   SOLE   2,000 0 13,800
TEXAS INSTRS INC. COM 882508104 1,367,571 10,660 SH   SOLE   7,960 0 2,700
THERMO FISHER SCIENTIFIC COM 883556102 1,202,019 3,700 SH   SOLE   2,800 0 900
TJX COMPANIES INC. COM 872540109 1,246,845 20,420 SH   SOLE   15,220 0 5,200
TOKYO ELECTRON LTD COM 006895675 2,223,533 10,100 SH   SOLE   900 0 9,200
TOKYO GAS CO LTD COM 006895448 331,819 13,600 SH   SOLE   600 0 13,000
TORONTO-DOMINION BANK COM 002897222 1,310,294 23,330 SH   SOLE   2,530 0 20,800
TRAVELERS COMPANIES COM 89417E109 82,170 600 SH   SOLE   600 0 0
TWO HARBORS INVESTMENT CO COM 90187B408 1,119,161 76,550 SH   SOLE   55,150 0 21,400
TYSON FOOD CL A COM 902494103 1,101,584 12,100 SH   SOLE   8,700 0 3,400
UCB SA COM 005596991 547,228 6,876 SH   SOLE   790 0 6,086
UNILEVER PLC COM 00B10RZP7 329,374 5,715 SH   SOLE   620 0 5,095
UNILEVER PLC ADR 904767704 1,743,113 30,490 SH   SOLE   3,340 0 27,150
UNION PACIFIC CORP. COM 907818108 1,184,175 6,550 SH   SOLE   4,950 0 1,600
UNITED HEALTHCARE COM 91324P102 1,367,007 4,650 SH   SOLE   3,550 0 1,100
UNITED OVERSEAS BANK LTD COM 006916781 1,288,436 65,600 SH   SOLE   7,200 0 58,400
UNITED OVERSEAS BANK-SP A ADR 911271302 1,597,762 40,640 SH   SOLE   4,440 0 36,200
UNITED PARCEL SERVICE COM 911312106 93,648 800 SH   SOLE   800 0 0
UNITED TECHNOLOGIES COM 913017109 1,257,984 8,400 SH   SOLE   6,300 0 2,100
UNUMPROVIDENT COM 91529Y106 882,673 30,270 SH   SOLE   21,820 0 8,450
V F CORP. COM 918204108 1,111,209 11,150 SH   SOLE   8,050 0 3,100
VALERO ENERGY NEW COM 91913Y100 1,125,673 12,020 SH   SOLE   8,620 0 3,400
VEONEER INC. COM 00BF2JMM5 54,973 3,433 SH   SOLE   360 0 3,073
VERISK ANALYTICS INC COM 92345Y106 97,071 650 SH   SOLE   650 0 0
VERIZON COMM. COM 92343V104 2,928,780 47,700 SH   SOLE   35,000 0 12,700
VERMILION ENERGY INC COM 00B607XS1 347,735 21,240 SH   SOLE   2,290 0 18,950
VESUVIUS PLC COM 00B82YXW8 606,729 91,599 SH   SOLE   10,050 0 81,549
VIACOMCBS INC. B COM 92556H206 812,120 19,350 SH   SOLE   13,950 0 5,400
VIPSHOP HOLDINGS LTD - AD ADR 92763W103 98,482 6,950 SH   SOLE   750 0 6,200
VISA INC COM 92826C839 1,843,299 9,810 SH   SOLE   7,510 0 2,300
VOPAK COM 005809428 565,994 10,433 SH   SOLE   1,100 0 9,333
VOYA FINANCIAL INC. COM 929089100 1,104,958 18,120 SH   SOLE   13,120 0 5,000
VULCAN MATLS COM 929160109 1,160,559 8,060 SH   SOLE   6,060 0 2,000
WAL MART STORES INC. COM 931142103 1,735,064 14,600 SH   SOLE   10,500 0 4,100
WASHINGTON REAL ESTATE COM 939653101 100,671 3,450 SH   SOLE   3,450 0 0
WASTE MGMT INC DEL. COM 94106L109 942,449 8,270 SH   SOLE   5,970 0 2,300
WATERS CORP. COM 941848103 105,143 450 SH   SOLE   450 0 0
WEC ENERGY GP COM 92939U106 96,842 1,050 SH   SOLE   1,050 0 0
WELLS FARGO & CO COM 949746101 2,870,230 53,350 SH   SOLE   39,150 0 14,200
WESTROCK CO COM 96145D105 115,857 2,700 SH   SOLE   2,700 0 0
WH SMITH PLC COM 00B2PDGW1 776,701 22,550 SH   SOLE   2,440 0 20,110
WILLIAMS COS. COM 969457100 884,756 37,300 SH   SOLE   27,300 0 10,000
WIRECARD AG COM 007508927 1,608,876 13,333 SH   SOLE   1,430 0 11,903
WORKDAY INC-CL. A COM 98138H101 98,670 600 SH   SOLE   600 0 0
WPP PLC COM 00B8KF9B4 764,661 54,122 SH   SOLE   5,870 0 48,252
WR BERKLEY CORP COM 084423102 93,285 1,350 SH   SOLE   1,350 0 0
WSFS FINL CORP COM 929328102 96,778 2,200 SH   SOLE   2,200 0 0
XCEL ENERGY INC COM 98389B100 95,235 1,500 SH   SOLE   1,500 0 0
YAHOO JAPAN CORP COM 006084848 442,441 104,300 SH   SOLE   11,400 0 92,900
ZOETIS INC COM 98978V103 1,241,443 9,380 SH   SOLE   6,980 0 2,400