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
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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 32,234 206,640 SH   SOLE   206,640 0 0
Altria Group Inc. COM 02209S103 26,086 664,600 SH   SOLE   664,600 0 0
AT&T Inc. COM 00206R102 45,188 1,494,790 SH   SOLE   1,494,790 0 0
Bank of America Corp. COM 060505104 12,050 507,358 SH   SOLE   507,358 0 0
BCE Inc. COM 05534B760 48,724 1,166,480 SH   SOLE   1,166,480 0 0
BOEING CO/THE COM 097023105 509 2,775 SH   SOLE   2,775 0 0
BorgWarner Inc. COM 099724106 244 6,905 SH   SOLE   6,905 0 0
Bristol-Myers Squibb Co. COM 110122108 848 14,420 SH   SOLE   14,420 0 0
Chevron Corp. COM 166764100 48,253 540,770 SH   SOLE   540,770 0 0
Chubb Ltd. COM H1467J104 45,997 363,266 SH   SOLE   363,266 0 0
Cisco Systems Inc. COM 17275R102 52,527 1,126,225 SH   SOLE   1,126,225 0 0
Citigroup Inc. COM 172967424 10,772 210,798 SH   SOLE   210,798 0 0
Comtech Telecommunications Cor COM 205826209 184 10,875 SH   SOLE   10,875 0 0
ConAgra Brands Inc COM 205887102 3,226 91,735 SH   SOLE   91,735 0 0
ConocoPhillips COM 20825C104 17,754 422,514 SH   SOLE   422,514 0 0
Corning Inc. COM 219350105 4,734 182,775 SH   SOLE   182,775 0 0
Credicorp Ltd. COM G2519Y108 3,739 27,970 SH   SOLE   27,970 0 0
CVS Healthcare Corp COM 126650100 16,597 255,460 SH   SOLE   255,460 0 0
Dow Inc COM 260557103 29,362 720,351 SH   SOLE   720,351 0 0
Duke Energy Corp. COM 26441C204 23,322 291,925 SH   SOLE   291,925 0 0
DuPont De Nemour COM 26614N102 3,757 70,710 SH   SOLE   70,710 0 0
Eaton Corp. PLC COM G29183103 4,148 47,420 SH   SOLE   47,420 0 0
Eli Lilly & Co. COM 532457108 28,675 174,655 SH   SOLE   174,655 0 0
Energy Select Sector SPDR Fund COM 81369Y506 18,774 496,000 SH   SOLE   496,000 0 0
Exxon Mobil Corp. COM 30231G102 10,842 242,445 SH   SOLE   242,445 0 0
Financial Select Sector SPDR F COM 81369Y605 44,359 1,917,000 SH   SOLE   1,917,000 0 0
General Dynamics Corp. COM 369550108 7,726 51,690 SH   SOLE   51,690 0 0
General Mills Inc. COM 370334104 3,157 51,205 SH   SOLE   51,205 0 0
Genuine Parts Co. COM 372460105 47,402 545,097 SH   SOLE   545,097 0 0
Globaltrans Investment PLC GDR COM 37949E204 4,985 924,930 SH   SOLE   924,930 0 0
Great Western Bancorp Inc. COM 391416104 201 14,595 SH   SOLE   14,595 0 0
Healthpeak Properties Inc COM 42250P103 32,838 1,191,498 SH   SOLE   1,191,498 0 0
Industrial Select Sector SPDR COM 81369Y704 43,968 640,000 SH   SOLE   640,000 0 0
Intel Corp. COM 458140100 57,085 954,125 SH   SOLE   954,125 0 0
iShares US Telecommunications COM 464287713 557 20,200 SH   SOLE   20,200 0 0
Johnson & Johnson COM 478160104 56,236 399,885 SH   SOLE   399,885 0 0
Johnson Controls International COM G51502105 14,668 429,653 SH   SOLE   429,653 0 0
JP Morgan Chase & Co. COM 46625H100 59,729 635,006 SH   SOLE   635,006 0 0
Kimberly-Clark Corp. COM 494368103 42,074 297,657 SH   SOLE   297,657 0 0
Las Vegas Sands Corp. COM 517834107 980 21,510 SH   SOLE   21,510 0 0
Lowe's Cos. Inc. COM 548661107 32,074 237,377 SH   SOLE   237,377 0 0
Manulife Financial Corp. COM 56501R106 3,450 253,288 SH   SOLE   253,288 0 0
MasterCraft Boat Holdings Inc. COM 57637H103 257 13,475 SH   SOLE   13,475 0 0
Mayville Engineering Co Inc COM 578605107 168 21,232 SH   SOLE   21,232 0 0
Medtronic PLC COM G5960L103 21,531 234,798 SH   SOLE   234,798 0 0
Merck & Co. Inc. COM 58933Y105 43,063 556,869 SH   SOLE   556,869 0 0
Microsoft Corp. COM 594918104 34,579 169,915 SH   SOLE   169,915 0 0
Mondelez International Inc. COM 609207105 506 9,890 SH   SOLE   9,890 0 0
Morgan Stanley COM 617446448 43,127 892,895 SH   SOLE   892,895 0 0
Newmont Corp COM 651639106 727 11,770 SH   SOLE   11,770 0 0
NextEra Energy Inc COM 65339F101 50,653 210,903 SH   SOLE   210,903 0 0
Oracle Corp. COM 68389X105 702 12,705 SH   SOLE   12,705 0 0
Permian Basin Royalty Trust COM 714236106 41 12,380 SH   SOLE   12,380 0 0
Pfizer Inc. COM 717081103 47,165 1,442,348 SH   SOLE   1,442,348 0 0
Philip Morris International In COM 718172109 49,903 712,290 SH   SOLE   712,290 0 0
PPL Corp. COM 69351T106 3,775 146,085 SH   SOLE   146,085 0 0
Raytheon Technologies Corp. COM 75513E101 47,344 768,324 SH   SOLE   768,324 0 0
Samsung Electronics GDR COM 796050888 1,136 1,030 SH   SOLE   1,030 0 0
Steelcase Inc COM 858155203 135 11,195 SH   SOLE   11,195 0 0
Target Corp. COM 87612E106 48,240 402,235 SH   SOLE   402,235 0 0
Technology Select Sector SPDR COM 81369Y803 580 5,550 SH   SOLE   5,550 0 0
The Allstate Corp. COM 020002101 674 6,950 SH   SOLE   6,950 0 0
The PNC Financial Services Gro COM 693475105 18,412 175,000 SH   SOLE   175,000 0 0
The Travelers Companies Inc. COM 89417E109 19,713 172,847 SH   SOLE   172,847 0 0
The Walt Disney Co. COM 254687106 629 5,645 SH   SOLE   5,645 0 0
Thermo Fisher Scientific Inc. COM 883556102 687 1,895 SH   SOLE   1,895 0 0
Truist Financial Corp COM 89832Q109 12,004 319,693 SH   SOLE   319,693 0 0
United Parcel Service Inc. COM 911312106 3,141 28,255 SH   SOLE   28,255 0 0
Verizon Communications Inc. COM 92343V104 5,998 108,800 SH   SOLE   108,800 0 0
Walgreens Boots Alliance Inc. COM 931427108 10,418 245,765 SH   SOLE   245,765 0 0
Welltower Inc. COM 95040Q104 32,625 630,438 SH   SOLE   630,438 0 0
Sonic Healthcare Ltd. COM Q8563C107 4,733 225,420 SH   SOLE   225,420 0 0
Power Corporation of Canda COM 739239101 959 54,515 SH   SOLE   54,515 0 0
AIA Group Ltd COM Y002A1105 5,909 633,400 SH   SOLE   633,400 0 0
Power Assets COM Y7092Q109 4,008 737,000 SH   SOLE   737,000 0 0
Zijin Mining Group Co. Ltd. COM Y9892H107 3,434 7,372,000 SH   SOLE   7,372,000 0 0
PT Bank Rakyat Indonesia COM Y0697U112 827 3,946,000 SH   SOLE   3,946,000 0 0
Nippon Telegraph & Telephone C COM J59396101 5,740 246,390 SH   SOLE   246,390 0 0
BAE Systems PLC COM G06940103 2,151 359,095 SH   SOLE   359,095 0 0
Britvic PLC COM G17387104 1,936 202,900 SH   SOLE   202,900 0 0
GlaxoSmithKline PLC COM G3910J112 5,161 254,505 SH   SOLE   254,505 0 0
Imperial Brands PLC COM G4721W102 1,357 71,210 SH   SOLE   71,210 0 0
Smiths Group PLC COM G82401111 375 21,450 SH   SOLE   21,450 0 0
Orkla ASA COM R67787102 106 12,155 SH   SOLE   12,155 0 0
Ascendas India Trust COM Y0259C104 4,823 5,015,700 SH   SOLE   5,015,700 0 0
Ascendas Real Estate Investmen COM Y0205X103 4,968 2,183,914 SH   SOLE   2,183,914 0 0
Singapore Telecommunications L COM Y79985209 5,553 3,145,355 SH   SOLE   3,145,355 0 0
United Overseas Bank Ltd. COM V96194127 4,860 334,780 SH   SOLE   334,780 0 0
KT&G Corp. COM Y49904108 4,063 62,350 SH   SOLE   62,350 0 0
Samsung Electronics Co. Ltd. - COM Y74718118 4,262 110,000 SH   SOLE   110,000 0 0
Nestle SA COM H57312649 5,087 46,020 SH   SOLE   46,020 0 0
Novartis AG COM H5820Q150 1,164 13,380 SH   SOLE   13,380 0 0
Roche Holding AG COM H69293217 5,836 16,840 SH   SOLE   16,840 0 0
Zurich Insurance Group AG COM H9870Y105 4,460 12,645 SH   SOLE   12,645 0 0
Prologis Property Mexico COM P4559M101 5,689 3,181,684 SH   SOLE   3,181,684 0 0
Allianz SE COM D03080112 3,706 18,150 SH   SOLE   18,150 0 0
BNP Paribas SA COM F1058Q238 3,799 95,605 SH   SOLE   95,605 0 0
Muenchener Ruechversicherungs COM D55535104 3,188 12,265 SH   SOLE   12,265 0 0
OPAP SA COM X3232T104 4,718 497,288 SH   SOLE   497,288 0 0
Sanofi COM F5548N101 5,746 56,425 SH   SOLE   56,425 0 0
Siemens AG COM D69671218 4,079 34,665 SH   SOLE   34,665 0 0
Smurfit Kappa Group PLC COM G8248F104 4,260 127,415 SH   SOLE   127,415 0 0
UPM-Kymmene Oyj COM X9518S108 2,882 99,745 SH   SOLE   99,745 0 0
ABB Ltd. (ADR) COM 000375204 3,734 165,520 SH   SOLE   165,520 0 0
ASE Technology Holding Co. Ltd COM 00215W100 62 13,590 SH   SOLE   13,590 0 0
British American Tobacco PLC ( COM 110448107 3,625 93,380 SH   SOLE   93,380 0 0
Diageo PLC (ADR) COM 25243Q205 28,679 213,400 SH   SOLE   213,400 0 0
GlaxoSmithKline PLC (ADR) COM 37733W105 820 20,110 SH   SOLE   20,110 0 0
ICICI Bank Ltd. (ADR) COM 45104G104 4,335 466,586 SH   SOLE   466,586 0 0
Lukoil PJSC (ADR) COM 69343P105 5,522 74,395 SH   SOLE   74,395 0 0
MMC Norilsk Nickel PJSC (ADR) COM 55315J102 6,016 228,470 SH   SOLE   228,470 0 0
Novartis AG (ADR) COM 66987V109 56,649 648,600 SH   SOLE   648,600 0 0
QIWI PLC (ADR) COM 74735M108 5,423 313,122 SH   SOLE   313,122 0 0
Sberbank of Russia PJSC (ADR) COM 80585Y308 2,740 241,630 SH   SOLE   241,630 0 0
Siemens AG (ADR) COM 826197501 37,707 639,218 SH   SOLE   639,218 0 0
SK Telecom Co Ltd (ADR) COM 78440P108 629 32,555 SH   SOLE   32,555 0 0
Taiwan Semiconductor Manufactu COM 874039100 11,119 195,855 SH   SOLE   195,855 0 0
Telefonica Brasil SA (ADR) COM 87936R106 1,935 218,400 SH   SOLE   218,400 0 0
Total SE (ADR) COM 89151E109 3,947 102,615 SH   SOLE   102,615 0 0
Toyota Motor Corp. (ADR) COM 892331307 971 7,730 SH   SOLE   7,730 0 0
Unilever NV (ADR) COM 904784709 46,176 866,836 SH   SOLE   866,836 0 0