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
AALBERTS INDUSTRIES NV COM 00B1W8P14 561,271 15,530 SH   SOLE   3,530 0 12,000
ABB LTD-REG COM 007108899 1,219,017 47,760 SH   SOLE   10,670 0 37,090
ABBOTT LABS COM 002824100 1,795,695 16,500 SH   SOLE   11,900 0 4,600
ABBVIE INC. COM 00287Y109 731,377 8,350 SH   SOLE   8,350 0 0
ACCOR SA COM 005852842 340,875 12,112 SH   SOLE   2,662 0 9,450
AEON MALL CO LTD COM 006534202 1,011,227 72,300 SH   SOLE   20,700 0 51,600
AES CORP COM 00130H105 832,155 45,950 SH   SOLE   33,050 0 12,900
AGNC INVESTMENT CORP COM 00123Q104 451,380 32,450 SH   SOLE   24,850 0 7,600
AIR PROD & CHEM. COM 009158106 1,980,769 6,650 SH   SOLE   5,750 0 900
AIRBUS SE COM 004012250 382,274 5,252 SH   SOLE   1,102 0 4,150
ALEXION PHARM. COM 015351109 200,253 1,750 SH   SOLE   1,750 0 0
ALLETE INC COM COM 018522300 271,635 5,250 SH   SOLE   5,250 0 0
ALLIANCE DATA SYSTEMS COM 018581108 50,376 1,200 SH   SOLE   1,200 0 0
ALLIANZ SE-REG COM 005231485 1,264,993 6,593 SH   SOLE   1,491 0 5,102
ALLSTATE CORP. COM 020002101 541,305 5,750 SH   SOLE   5,750 0 0
ALLY FINANCIAL INC COM 02005N100 644,800 25,720 SH   SOLE   18,520 0 7,200
ALPHABET INC. CL A COM 02079K305 1,333,696 910 SH   SOLE   610 0 300
ALPHABET INC. CL C COM 02079K107 2,468,928 1,680 SH   SOLE   1,430 0 250
ALTRIA GROUP COM 02209S103 606,648 15,700 SH   SOLE   11,350 0 4,350
AMAZON COM COM 023135106 2,944,063 935 SH   SOLE   935 0 0
AMER. ELEC. PWR COM 025537101 686,532 8,400 SH   SOLE   6,000 0 2,400
AMERICAN TOWER CORP. COM 03027X100 1,890,329 7,820 SH   SOLE   6,820 0 1,000
AMERICAN WTR WKS CO COM 030420103 833,060 5,750 SH   SOLE   5,750 0 0
AMERIPRISE FINANCIAL COM 03076C106 787,502 5,110 SH   SOLE   3,710 0 1,400
AMERISAFE INC COM 03071H100 91,776 1,600 SH   SOLE   1,600 0 0
AMN HEALTHCARE SVC COM 001744101 105,228 1,800 SH   SOLE   1,800 0 0
ANHEUSER-BUSCH INBEV NV COM 00BYYHL23 419,173 7,733 SH   SOLE   1,683 0 6,050
ANSYS INC COM 03662Q105 147,254 450 SH   SOLE   450 0 0
ANTHEM INC. COM 036752103 1,410,098 5,250 SH   SOLE   4,550 0 700
AON CORP ADR G0408V102 1,152,186 5,585 SH   SOLE   1,335 0 4,250
APPLE INC. COM 037833100 3,242,680 28,000 SH   SOLE   28,000 0 0
APPLIED INDL TECH COM 03820C105 300,295 5,450 SH   SOLE   5,450 0 0
APPLIED MATLS INC. COM 038222105 671,785 11,300 SH   SOLE   11,300 0 0
APTIV PLC ADR G6095L109 780,472 8,513 SH   SOLE   2,213 0 6,300
ARCH CAPITAL GP LTD. ADR G0450A105 970,632 33,184 SH   SOLE   8,234 0 24,950
ARES CAP CORP COM 04010L103 663,560 47,567 SH   SOLE   34,667 0 12,900
ASAHI GROUP HOLDINGS LTD COM 006054409 696,348 20,100 SH   SOLE   4,100 0 16,000
ASML HOLDING NV COM 00B929F46 1,647,733 4,465 SH   SOLE   965 0 3,500
ASPEN TECHNOLOGY COM 045327103 917,778 7,250 SH   SOLE   7,250 0 0
ASSICURAZIONI GENERALI COM 004056719 529,511 37,551 SH   SOLE   8,501 0 29,050
AT&T INC. COM 00206R102 2,401,968 84,250 SH   SOLE   62,650 0 21,600
ATLAS COPCO AB-A SHS COM 00BD97BN2 788,130 16,450 SH   SOLE   0 0 16,450
B3 SA-BRASIL BOLSA BALCAO COM 00BG36ZK1 714,897 73,250 SH   SOLE   16,250 0 57,000
BAIDU COM INC ADR 056752108 341,793 2,700 SH   SOLE   300 0 2,400
BAKER HUGHES A GE COM 05722G100 265,136 19,950 SH   SOLE   16,150 0 3,800
BANDAI NAMCO HOLDINGS INC COM 00B0JDQD4 816,041 11,200 SH   SOLE   2,000 0 9,200
BANK OF AMERICA COM 060505104 2,431,886 100,950 SH   SOLE   74,350 0 26,600
BAXTER INTL INC. COM 071813109 751,927 9,350 SH   SOLE   6,750 0 2,600
BAYER AG-REG COM 005069211 471,293 7,539 SH   SOLE   1,703 0 5,836
BEAZER HOMES USA COM 07556Q881 48,576 3,680 SH   SOLE   3,680 0 0
BECTON DICKINSON & CO COM 075887109 1,554,302 6,680 SH   SOLE   6,680 0 0
BEIERSDORF AG COM 005107401 1,127,916 9,916 SH   SOLE   2,238 0 7,678
BERKSHIRE HATH. B COM 084670702 3,257,982 15,300 SH   SOLE   11,000 0 4,300
BERKSHIRE HATHAWAY A COM 084670108 2,560,008 8 SH   SOLE   6 0 2
BIO-TECHNE CORP COM 09073M104 247,730 1,000 SH   SOLE   1,000 0 0
BLACK HILLS CORP COM 092113109 502,806 9,400 SH   SOLE   6,800 0 2,600
BNP PARIBAS COM 007309681 432,932 11,919 SH   SOLE   2,669 0 9,250
BOEING CO. COM 097023105 317,299 1,920 SH   SOLE   1,420 0 500
BOOKING HOLDINGS INC. COM 09857L108 256,602 150 SH   SOLE   150 0 0
BREMBO SPA COM 00BF37983 918,229 91,798 SH   SOLE   25,598 0 66,200
BRISTOL MYERS SQUIBB COM 110122108 1,009,255 16,740 SH   SOLE   12,040 0 4,700
BROADCOM INC. COM 11135F101 1,001,880 2,750 SH   SOLE   1,950 0 800
BURBERRY GROUP PLC COM 003174300 473,022 23,545 SH   SOLE   5,245 0 18,300
CABLE ONE INC. COM 12685J105 1,131,258 600 SH   SOLE   400 0 200
CALBEE INC COM 00B3TBRZ8 518,781 15,800 SH   SOLE   3,800 0 12,000
CANADIAN NATL RAILWAY CO COM 002180632 713,642 6,722 SH   SOLE   1,472 0 5,250
CANADIAN PACIFIC RAILWAY COM 002793115 823,594 2,716 SH   SOLE   566 0 2,150
CARDINAL HEALTH INC COM 14149Y108 152,588 3,250 SH   SOLE   3,250 0 0
CARLSBERG AS-B COM 004169219 765,549 5,677 SH   SOLE   1,285 0 4,392
CARRIER GLOBAL CORP COM 14448C104 180,186 5,900 SH   SOLE   4,300 0 1,600
CASEYS GEN STORES COM 147528103 586,245 3,300 SH   SOLE   3,300 0 0
CAVCO INDS INC COM 149568107 135,233 750 SH   SOLE   750 0 0
CCL INDUSTRIES, CL B COM 002159795 1,005,276 26,155 SH   SOLE   5,805 0 20,350
CENTERPOINT ENERGY INC COM 15189T107 275,738 14,250 SH   SOLE   14,250 0 0
CHARLES SCHWAB COM 808513105 394,907 10,900 SH   SOLE   10,900 0 0
CHARTER PLC COM 16119P108 1,123,812 1,800 SH   SOLE   1,300 0 500
CHASE CORP COM 16150R104 71,550 750 SH   SOLE   750 0 0
CHEFS' WAREHOUSE INC COM 163086101 51,617 3,550 SH   SOLE   3,550 0 0
CHESAPEAKE UTILITIES CORP COM 165303108 84,300 1,000 SH   SOLE   1,000 0 0
CHEVRON CORP COM 166764100 1,227,600 17,050 SH   SOLE   12,250 0 4,800
CHIPOTLE MEXICAN GRILL COM 169656105 808,412 650 SH   SOLE   650 0 0
CIE FINANCIERE RICHEMONT- COM 00BCRWZ18 812,593 12,100 SH   SOLE   0 0 12,100
CIGNA CORP. COM 125523100 804,698 4,750 SH   SOLE   3,350 0 1,400
CINTAS CORP COM 172908105 798,792 2,400 SH   SOLE   2,400 0 0
CISCO SYSTEMS COM 17275R102 2,054,189 52,150 SH   SOLE   39,150 0 13,000
CITIGROUP INC. COM 172967424 1,448,496 33,600 SH   SOLE   24,200 0 9,400
CITIZENS FINANCIAL GROUP COM 174610105 692,166 27,380 SH   SOLE   19,730 0 7,650
CME GROUP COM 12572Q105 886,743 5,300 SH   SOLE   4,200 0 1,100
COCA COLA COMPANY COM 191216100 236,976 4,800 SH   SOLE   4,800 0 0
COGNIZANT TECH. COM 192446102 812,214 11,700 SH   SOLE   8,400 0 3,300
COHERENT INC COM 192479103 99,837 900 SH   SOLE   900 0 0
COLGATE PALMOLIVE COM 194162103 686,635 8,900 SH   SOLE   8,900 0 0
COMCAST CORP-Cl A COM 20030N101 1,310,083 28,320 SH   SOLE   28,320 0 0
COMPASS GROUP PLC COM 00BD6K457 1,186,780 78,528 SH   SOLE   17,341 0 61,187
COMPASS MINERALS INTL COM 20451N101 71,220 1,200 SH   SOLE   1,200 0 0
CONOCOPHILLIPS COM 20825C104 822,642 25,050 SH   SOLE   21,550 0 3,500
CONTINENTAL RESOURCES COM 212015101 40,524 3,300 SH   SOLE   3,300 0 0
COPART INC COM 217204106 247,126 2,350 SH   SOLE   2,350 0 0
CORNING INC COM 219350105 1,048,464 32,350 SH   SOLE   23,350 0 9,000
COSTCO WHOLESALE COM 22160K105 1,029,500 2,900 SH   SOLE   2,100 0 800
CREDIT SAISON CO LTD COM 006591809 452,050 42,900 SH   SOLE   9,500 0 33,400
CROWN CASTLE INTL COM 22822V101 1,406,925 8,450 SH   SOLE   6,050 0 2,400
CSX CORP. COM 126408103 757,283 9,750 SH   SOLE   7,050 0 2,700
CULLEN FROST BANKERS COM 229899109 169,468 2,650 SH   SOLE   2,650 0 0
CUMMINS INC COM 231021106 1,203,612 5,700 SH   SOLE   4,200 0 1,500
CVS CAREMARK CORP COM 126650100 1,273,120 21,800 SH   SOLE   14,700 0 7,100
CYBERAGENT INC COM 006220501 735,715 12,000 SH   SOLE   2,000 0 10,000
D R HORTON INC. COM 23331A109 778,989 10,300 SH   SOLE   10,300 0 0
DAIKIN INDUSTRIES LTD COM 006250724 914,432 5,000 SH   SOLE   0 0 5,000
DANAHER CORP COM 235851102 2,670,092 12,400 SH   SOLE   10,600 0 1,800
DELTA AIR LINES COM 247361702 415,276 13,580 SH   SOLE   9,780 0 3,800
DENSO CORP COM 006640381 505,308 11,600 SH   SOLE   2,100 0 9,500
DEUTSCHE BOERSE AG COM 007021963 3,232,727 18,403 SH   SOLE   4,153 0 14,250
DEUTSCHE POST AG-REG COM 004617859 1,708,323 37,450 SH   SOLE   5,100 0 32,350
DIAGEO PLC COM 000237400 497,272 14,515 SH   SOLE   3,160 0 11,355
DIEBOLD INC COM 253651103 31,706 4,150 SH   SOLE   4,150 0 0
DIGITAL REALTY TRUST INC COM 253868103 3,447,246 23,489 SH   SOLE   13,786 0 9,703
DISCOVER FINCL SERVICES COM 254709108 564,511 9,770 SH   SOLE   7,070 0 2,700
DISH NETWORK CORP CL A COM 25470M109 108,863 3,750 SH   SOLE   3,750 0 0
DISNEY WALT PRODTNS COM 254687106 769,296 6,200 SH   SOLE   4,500 0 1,700
DIVERSIFIED HEALTHCARE TR COM 25525P107 25,520 7,250 SH   SOLE   7,250 0 0
DOLLAR GEN CORP COM 256677105 492,607 2,350 SH   SOLE   2,350 0 0
DOLLARAMA INC COM 00B4TP9G2 789,663 20,666 SH   SOLE   4,516 0 16,150
DOMINION RESOURCES COM 25746U109 757,728 9,600 SH   SOLE   7,000 0 2,600
DOW INC. COM 260557103 526,113 11,182 SH   SOLE   11,182 0 0
ELI LILLY & CO. COM 532457108 1,022,818 6,910 SH   SOLE   4,910 0 2,000
ENTERGY CORP. COM 29364G103 1,289,758 13,090 SH   SOLE   9,490 0 3,600
EQUINIX INC COM 29444U700 1,337,829 1,760 SH   SOLE   1,360 0 400
EXELON CORP. COM 30161N101 854,664 23,900 SH   SOLE   17,200 0 6,700
EXPEDITORS INT'L COM 302130109 199,144 2,200 SH   SOLE   2,200 0 0
EXPERIAN PLC COM 00B19NLV4 1,005,087 26,625 SH   SOLE   5,975 0 20,650
EXXON MOBIL CORP. COM 30231G102 1,349,169 39,300 SH   SOLE   28,300 0 11,000
FACEBOOK INC. COM 30303M102 1,846,395 7,050 SH   SOLE   7,050 0 0
FACTSET RESH SYS COM 303075105 786,968 2,350 SH   SOLE   2,350 0 0
FAMILYMART UNY HOLDINGS C COM 006331276 309,921 13,800 SH   SOLE   2,000 0 11,800
FANUC CORP COM 006356934 848,422 4,450 SH   SOLE   100 0 4,350
FIFTH THIRD BANCORP COM 316773100 736,819 34,560 SH   SOLE   24,960 0 9,600
FINECOBANK SPA COM 00BNGN9Z1 871,994 63,259 SH   SOLE   19,359 0 43,900
FIRST MERCHANTS CORP COM 320817109 154,014 6,650 SH   SOLE   6,650 0 0
FIRST REPUBLIC BANK/CA COM 33616C100 1,445,045 13,250 SH   SOLE   10,950 0 2,300
FOMENTO ECONOMICO MEX-SP ADR 344419106 336,466 5,988 SH   SOLE   1,488 0 4,500
FORD MOTOR CO. COM 345370860 725,940 109,000 SH   SOLE   87,600 0 21,400
FOX FACTORY HOLDING CORP COM 35138V102 241,573 3,250 SH   SOLE   3,250 0 0
GALLAGHER ARTHUR CO. COM 363576109 1,178,273 11,160 SH   SOLE   7,960 0 3,200
GEBERIT AG-REG COM 00B1WGG93 837,636 1,410 SH   SOLE   356 0 1,054
GENERAL ELECTRIC CO. COM 369604103 201,852 32,400 SH   SOLE   32,400 0 0
GENERAL MTRS CO COM 37045V100 711,640 24,050 SH   SOLE   18,250 0 5,800
GENMAB A/S COM 004595739 1,108,739 3,060 SH   SOLE   710 0 2,350
GILEAD SCIENCES INC. COM 375558103 967,439 15,310 SH   SOLE   11,010 0 4,300
GLAXOSMITHKLINE PLC COM 000925288 528,848 28,173 SH   SOLE   6,223 0 21,950
GLOBUS MEDICAL CL A COM 379577208 168,368 3,400 SH   SOLE   3,400 0 0
GOLDMAN SACHS GROUP COM 38141G104 884,268 4,400 SH   SOLE   3,100 0 1,300
GRAPHIC PACKAGING HOLDING COM 388689101 73,268 5,200 SH   SOLE   5,200 0 0
GROUPE BRUXELLES LAMBERT COM 007097328 2,136,886 23,672 SH   SOLE   5,264 0 18,408
HALMA PLC COM 000405207 1,288,437 42,500 SH   SOLE   9,400 0 33,100
HARTFORD FINCL. SRV COM 416515104 307,781 8,350 SH   SOLE   8,350 0 0
HASBRO INC. COM 418056107 322,608 3,900 SH   SOLE   3,900 0 0
HCA INC. COM 40412C101 723,144 5,800 SH   SOLE   4,200 0 1,600
HEALTHCARE REALTY COM 421946104 365,958 12,150 SH   SOLE   12,150 0 0
HEICO CORP-CLASS A COM 422806208 984,126 11,100 SH   SOLE   11,100 0 0
HEINEKEN NV COM 007792559 749,663 8,425 SH   SOLE   1,860 0 6,565
HENKEL AG & CO KGAA VORZU COM 005076705 600,690 5,735 SH   SOLE   1,279 0 4,456
HERMES INTERNATIONAL COM 005253973 794,241 920 SH   SOLE   207 0 713
HESS CORP. COM 42809H107 504,667 12,330 SH   SOLE   8,930 0 3,400
HEXAGON AB-B SHS COM 00B1XFTL2 1,319,703 17,426 SH   SOLE   3,894 0 13,532
HIKARI TSUSHIN INC COM 006416322 710,130 3,000 SH   SOLE   0 0 3,000
HOLOGIC INC COM 436440101 129,617 1,950 SH   SOLE   1,950 0 0
HOME DEPOT INC. COM 437076102 996,979 3,590 SH   SOLE   2,590 0 1,000
HOYA CORP COM 006441506 887,842 7,900 SH   SOLE   2,000 0 5,900
HP INC COM 40434L105 697,883 36,750 SH   SOLE   26,450 0 10,300
HSBC HOLDINGS PLC COM 000540528 257,999 66,191 SH   SOLE   14,841 0 51,350
HUMANA INC. COM 444859102 186,251 450 SH   SOLE   450 0 0
HUNT J B TRANS SVCS COM 445658107 568,710 4,500 SH   SOLE   4,500 0 0
HUNTINGTON BANCSHARES COM 446150104 47,226 5,150 SH   SOLE   5,150 0 0
HUNTINGTON INGALLS INDUS COM 446413106 274,463 1,950 SH   SOLE   1,950 0 0
ILLUMINA INC COM 452327109 587,252 1,900 SH   SOLE   1,900 0 0
IMPERIAL OIL LTD COM 002454241 218,560 18,315 SH   SOLE   2,815 0 15,500
IMPERIAL OIL LTD ADR 453038408 25,594 2,140 SH   SOLE   2,140 0 0
INFINEON TECHNOLOGIES AG COM 005889505 788,064 27,868 SH   SOLE   6,168 0 21,700
ING GROEP NV-CVA COM 00BZ57390 1,226,992 172,749 SH   SOLE   44,009 0 128,740
INGREDION INC COM 457187102 45,408 600 SH   SOLE   600 0 0
INT'L PAPER CO. COM 460146103 786,476 19,400 SH   SOLE   14,000 0 5,400
INTEL CORP. COM 458140100 2,438,838 47,100 SH   SOLE   33,900 0 13,200
INTUITIVE SURGICAL INC COM 46120E602 1,028,833 1,450 SH   SOLE   1,450 0 0
INVESTOR AB-B SHS COM 005679591 1,679,148 25,602 SH   SOLE   6,885 0 18,717
J & J SNACK FOODS COM 466032109 156,468 1,200 SH   SOLE   1,200 0 0
JAPAN TOBACCO INC COM 006474535 316,573 17,400 SH   SOLE   0 0 17,400
JEFFERIES FINANCIAL GP COM 47233W109 740,700 41,150 SH   SOLE   29,650 0 11,500
JM SMUCKER CO COM 832696405 426,269 3,690 SH   SOLE   3,690 0 0
JOHNSON & JOHNSON COM 478160104 2,985,044 20,050 SH   SOLE   14,450 0 5,600
JPMORGAN CHASE & CO COM 46625H100 2,912,168 30,250 SH   SOLE   21,850 0 8,400
KAISER ALUMINUM CORP COM 483007704 144,693 2,700 SH   SOLE   2,700 0 0
KAO CORP COM 006483809 986,529 13,200 SH   SOLE   4,200 0 9,000
KDDI CORP COM 006248990 536,083 21,300 SH   SOLE   4,100 0 17,200
KELLOGG CO COM 487836108 1,741,346 26,960 SH   SOLE   20,760 0 6,200
KEYCORP COM 493267108 626,922 52,550 SH   SOLE   40,050 0 12,500
KIMBERLY CLARK CORP. COM 494368103 981,939 6,650 SH   SOLE   4,800 0 1,850
KINDER MORGAN INC COM 49456B101 445,113 36,100 SH   SOLE   26,000 0 10,100
KOMATSU LTD COM 006496584 702,653 32,100 SH   SOLE   3,900 0 28,200
KONINKLIJKE DSM NV COM 00B0HZL93 807,886 4,900 SH   SOLE   0 0 4,900
KONINKLIJKE PHILIPS NV COM 005986622 913,820 19,385 SH   SOLE   0 0 19,385
KROGER CO. COM 501044101 1,698,891 50,100 SH   SOLE   35,800 0 14,300
KUEHNE & NAGEL INTL AG-RE COM 00B142S60 785,895 4,027 SH   SOLE   922 0 3,105
LAFARGEHOLCIM LTD-REG COM 007110753 739,801 16,187 SH   SOLE   4,837 0 11,350
LAUDER ESTEE COS. COM 518439104 940,658 4,310 SH   SOLE   3,110 0 1,200
LEAR CORP. COM 521865204 583,418 5,350 SH   SOLE   3,850 0 1,500
LEGRAND SA COM 00B11ZRK9 735,232 9,196 SH   SOLE   2,102 0 7,094
LENNAR CORP. COM 526057104 1,217,032 14,900 SH   SOLE   10,700 0 4,200
LITTELFUSE INC COM 537008104 266,010 1,500 SH   SOLE   1,500 0 0
LOCKHEED MARTIN COM 539830109 793,390 2,070 SH   SOLE   1,520 0 550
LONDON STOCK EXCHANGE GP COM 00B0SWJX3 1,140,719 9,941 SH   SOLE   2,191 0 7,750
LVMH MOET HENNESSY LOUIS COM 004061412 777,940 1,661 SH   SOLE   361 0 1,300
MARATHON PETROLEUM CORP COM 56585A102 699,759 23,850 SH   SOLE   19,650 0 4,200
MARKETAXESS HOLDINGS COM 57060D108 1,348,452 2,800 SH   SOLE   2,800 0 0
MARSH & MCLENNON COM 571748102 1,069,004 9,320 SH   SOLE   6,720 0 2,600
MASTERCARD INC. COM 57636Q104 1,043,254 3,085 SH   SOLE   3,085 0 0
MAXIM INTERGRATED COM 57772K101 892,452 13,200 SH   SOLE   9,500 0 3,700
MCDONALDS CORP. COM 580135101 3,465,747 15,790 SH   SOLE   12,590 0 3,200
MCKESSON CORP COM 58155Q103 372,325 2,500 SH   SOLE   2,500 0 0
MEDIOBANCA SPA COM 004574813 487,217 62,031 SH   SOLE   13,731 0 48,300
MEDTRONIC INC. ADR G5960L103 1,424,743 13,710 SH   SOLE   1,560 0 12,150
MERCK & CO. INC. COM 58933Y105 3,353,254 40,425 SH   SOLE   33,125 0 7,300
METLIFE INC COM 59156R108 909,922 24,480 SH   SOLE   17,580 0 6,900
MICROSOFT CORP. COM 594918104 3,951,049 18,785 SH   SOLE   16,235 0 2,550
MIDSOUTH BANKCORP COM 620076307 705,645 4,500 SH   SOLE   3,200 0 1,300
MONDELEZ INTERNATIONAL CL COM 609207105 798,555 13,900 SH   SOLE   10,100 0 3,800
MOODYS CORP COM 615369105 1,115,923 3,850 SH   SOLE   2,750 0 1,100
MORGAN STANLEY COM 617446448 855,795 17,700 SH   SOLE   12,700 0 5,000
MORNINGSTAR INC COM 617700109 353,342 2,200 SH   SOLE   2,200 0 0
MTU AERO ENGINES AG COM 00B09DHL9 927,496 5,570 SH   SOLE   1,268 0 4,302
NEENAH PAPER INC COM 640079109 460,881 12,300 SH   SOLE   8,900 0 3,400
NEKTAR THERAPEUTICS COM 640268108 32,351 1,950 SH   SOLE   1,950 0 0
NEMETSCHEK SE COM 005633962 1,002,836 13,683 SH   SOLE   2,983 0 10,700
NESTLE SA-REG COM 007123870 2,591,908 21,779 SH   SOLE   4,834 0 16,945
NEWMONT CORP COM 651639106 1,405,418 22,150 SH   SOLE   16,650 0 5,500
NEXTERA ENERGY INC COM 65339F101 999,216 3,600 SH   SOLE   2,600 0 1,000
NIDEC CORP COM 006640682 1,207,856 13,000 SH   SOLE   4,000 0 9,000
NITTO DENKO CORP COM 006641801 648,157 10,000 SH   SOLE   2,000 0 8,000
NOBLE ENERGY INC COM 655044105 308,057 36,030 SH   SOLE   25,980 0 10,050
NORFOLK SOUTHERN CORP COM 655844108 855,960 4,000 SH   SOLE   2,900 0 1,100
NORTHROP GRUMMAN COM 666807102 725,627 2,300 SH   SOLE   1,700 0 600
NORTHWESTERN CORP COM 668074305 510,720 10,500 SH   SOLE   7,600 0 2,900
NOVARTIS AG-REG COM 007103065 1,736,319 19,963 SH   SOLE   5,163 0 14,800
NOVOZYMES A/S-B SHARES COM 00B798FW0 1,441,158 22,876 SH   SOLE   5,001 0 17,875
NTT DOCOMO INC COM 006129277 817,275 22,200 SH   SOLE   4,100 0 18,100
NVE CORP COM 629445206 159,510 3,250 SH   SOLE   3,250 0 0
NVIDIA CORP COM 67066G104 2,029,575 3,750 SH   SOLE   3,750 0 0
NXP SEMICONDUCTORS NV COM N6596X109 863,935 6,922 SH   SOLE   1,672 0 5,250
OCCIDENTAL PETRO. COM 674599105 298,298 29,800 SH   SOLE   23,900 0 5,900
OIL STS INTL COM 678026105 122,850 45,000 SH   SOLE   32,500 0 12,500
OLD DOMINION FGHT LINE COM 679580100 637,743 3,525 SH   SOLE   3,525 0 0
OLD REP INTL CORP. COM 680223104 161,403 10,950 SH   SOLE   10,950 0 0
OLLIE'S BARGAIN OUTLET HD COM 681116109 519,733 5,950 SH   SOLE   5,950 0 0
ONO PHARMACEUTICAL CO LTD COM 006660107 857,857 27,400 SH   SOLE   7,600 0 19,800
ORACLE SYSTEMS COM 68389X105 1,140,270 19,100 SH   SOLE   13,800 0 5,300
OSHKOSH TRUCK CORP COM 688239201 327,075 4,450 SH   SOLE   4,450 0 0
OTIS WORLDWIDE CORP COM 68902V107 187,260 3,000 SH   SOLE   2,150 0 850
PALO ALTO NETWORKS INC COM 697435105 159,088 650 SH   SOLE   650 0 0
PANHANDLE OIL AND GAS INC COM 698477106 9,081 6,350 SH   SOLE   6,350 0 0
PAR PACIFIC HOLDINGS COM 69888T207 31,819 4,700 SH   SOLE   4,700 0 0
PARGESA HOLDING SA-BR COM 00B0CDLF8 1,208,180 14,529 SH   SOLE   3,189 0 11,340
PARKER HANNIFIN COM 701094104 920,647 4,550 SH   SOLE   3,250 0 1,300
PARSLEY ENERGY INC COM 701877102 59,436 6,350 SH   SOLE   6,350 0 0
PARTNERS GROUP HOLDING AG COM 00B119QG0 1,062,787 1,152 SH   SOLE   0 0 1,152
PAYCOM SOFTWARE INC COM 70432V102 326,865 1,050 SH   SOLE   1,050 0 0
PAYPAL HOLDINGS INC COM 70450Y103 1,408,765 7,150 SH   SOLE   7,150 0 0
PEOPLES UNITED FINCL COM 712704105 482,508 46,800 SH   SOLE   33,700 0 13,100
PEPSICO INC. COM 713448108 785,862 5,670 SH   SOLE   4,170 0 1,500
PERNOD RICARD SA COM 004682329 1,051,976 6,589 SH   SOLE   1,638 0 4,951
PETROBRAS - PETROLEO BRAS COM 002683410 303,381 87,200 SH   SOLE   19,600 0 67,600
PFIZER INC. COM 717081103 2,242,370 61,100 SH   SOLE   45,500 0 15,600
PHIBRO ANIMAL HEALTH CORP COM 71742Q106 40,890 2,350 SH   SOLE   2,350 0 0
PHILIP MORRIS INT'L COM 718172109 884,882 11,800 SH   SOLE   8,500 0 3,300
PNC FINCL SVCS COM 693475105 1,588,200 14,450 SH   SOLE   10,450 0 4,000
PORTLAND GENERAL ELECTRIC COM 736508847 607,405 17,110 SH   SOLE   12,810 0 4,300
PPG INDUSTRIES COM 693506107 788,637 6,460 SH   SOLE   4,660 0 1,800
PRAIRIESKY ROYALTY LTD COM 00BN320L4 248,930 40,013 SH   SOLE   8,913 0 31,100
PRESTIGE BRANDS HOLDINGS COM 74112D101 125,649 3,450 SH   SOLE   3,450 0 0
PRICESMART INC COM 741511109 89,708 1,350 SH   SOLE   1,350 0 0
PROCTOR & GAMBLE COM 742718109 3,321,861 23,900 SH   SOLE   17,200 0 6,700
PROLOGIS TR COM 74340W103 950,859 9,450 SH   SOLE   6,850 0 2,600
PRUDENTIAL FINL INC COM 744320102 752,712 11,850 SH   SOLE   8,550 0 3,300
PUBLIC STORAGE INC COM 74460D109 692,659 3,110 SH   SOLE   2,210 0 900
PUBLIC SVC ENTER. COM 744573106 1,647,300 30,000 SH   SOLE   24,500 0 5,500
QUAKER CHEM CORP COM 747316107 80,870 450 SH   SOLE   450 0 0
QUALCOMM INC. COM 747525103 1,635,752 13,900 SH   SOLE   10,100 0 3,800
RAYONIER INC COM COM 754907103 66,100 2,500 SH   SOLE   2,500 0 0
RAYTHEON TECHNOLOGIES COR COM 75513E101 339,486 5,900 SH   SOLE   4,300 0 1,600
RBC BEARINGS INC COM 75524B104 145,452 1,200 SH   SOLE   1,200 0 0
RECKITT BENCKISER GROUP P COM 00B24CGK7 1,361,849 13,934 SH   SOLE   3,343 0 10,591
RECRUIT HOLDINGS CO LTD COM 00BQRRZ00 1,675,353 42,500 SH   SOLE   9,300 0 33,200
REGENERON PHARM. COM 75886F107 559,780 1,000 SH   SOLE   1,000 0 0
REGIONS FINANCIAL CORP COM 7591EP100 607,746 52,710 SH   SOLE   37,910 0 14,800
RELIANCE STEEL & ALUM COM 759509102 857,136 8,400 SH   SOLE   6,000 0 2,400
RENTOKIL INITIAL PLC COM 00B082RF1 1,405,551 202,990 SH   SOLE   44,890 0 158,100
ROCHE HOLDING AG-GENUSSCH COM 007110388 1,131,624 3,299 SH   SOLE   786 0 2,513
ROCKWELL INT'L COM 773903109 1,037,196 4,700 SH   SOLE   3,300 0 1,400
ROYAL BANK OF CANADA COM 002754383 524,230 7,490 SH   SOLE   1,640 0 5,850
S & T BANCORP INC COM 783859101 38,918 2,200 SH   SOLE   2,200 0 0
SAFRAN SA COM 00B058TZ6 471,527 4,762 SH   SOLE   1,462 0 3,300
SALESFORCE COM INC COM 79466L302 1,482,788 5,900 SH   SOLE   5,900 0 0
SANTEN PHARMACEUTICAL CO COM 006776606 1,460,090 71,700 SH   SOLE   20,700 0 51,000
SAP AG COM 004846288 1,828,319 11,744 SH   SOLE   2,627 0 9,117
SARTORIUS AG-VORZUG COM 005843329 2,722,602 6,626 SH   SOLE   1,476 0 5,150
SEMPRA ENERGY COM 816851109 627,308 5,300 SH   SOLE   3,900 0 1,400
SERVICE CORP INT'L COM 817565104 92,796 2,200 SH   SOLE   2,200 0 0
SHENANDOAH TELECOMM COM 82312B106 104,422 2,350 SH   SOLE   2,350 0 0
SHIMANO INC COM 006804820 589,027 3,000 SH   SOLE   0 0 3,000
SHIN-ETSU CHEMICAL CO LTD COM 006804585 959,623 7,400 SH   SOLE   2,000 0 5,400
SHISEIDO CO LTD COM 006805265 463,219 8,100 SH   SOLE   2,100 0 6,000
SHOPIFY INC. CL A COM 00BX865C7 3,529,231 3,462 SH   SOLE   762 0 2,700
SHUTTERSTOCK INC COM 825690100 98,876 1,900 SH   SOLE   1,900 0 0
SIMON PPTY GP COM 828806109 304,643 4,710 SH   SOLE   3,310 0 1,400
SINCLAIR BRDCASTinG GRP COM 829226109 45,191 2,350 SH   SOLE   2,350 0 0
SLEEP NUMBER CORP. COM 83125X103 102,711 2,100 SH   SOLE   2,100 0 0
SMC CORP COM 006763965 553,966 1,000 SH   SOLE   0 0 1,000
SODEXO COM 007062713 457,881 6,399 SH   SOLE   2,021 0 4,378
SONOVA HOLDING AG-REG COM 007156036 796,846 3,134 SH   SOLE   716 0 2,418
SOUTHERN CO. COM 842587107 726,548 13,400 SH   SOLE   9,600 0 3,800
SOUTHWEST AIRLINES COM 844741108 211,875 5,650 SH   SOLE   5,650 0 0
SPECTRUM BRANDS HDGS COM 84790A105 65,877 1,153 SH   SOLE   785 0 368
SPIRAX-SARCO ENGINEERING COM 00BWFGQN1 1,425,762 9,967 SH   SOLE   2,217 0 7,750
STAG INDUSTRIAL INC COM 85254J102 230,200 7,550 SH   SOLE   7,550 0 0
STANDARD CHARTERED PLC COM 000408284 312,957 67,980 SH   SOLE   15,448 0 52,532
STANLEY ELECTRIC CO LTD COM 006841106 508,547 17,800 SH   SOLE   4,100 0 13,700
STEEL DYNAMICS INC COM 858119100 154,602 5,400 SH   SOLE   5,400 0 0
STRYKER CORP. COM 863667101 770,969 3,700 SH   SOLE   2,700 0 1,000
SUMITOMO METAL MINING CO COM 006858849 556,567 18,100 SH   SOLE   4,100 0 14,000
SUNCOR ENERGY INC COM 00B3NB1P2 224,043 18,405 SH   SOLE   4,105 0 14,300
SYMRISE AG COM 00B1JB4K8 950,898 6,872 SH   SOLE   1,522 0 5,350
SYNCHRONY FINANCIAL COM 87165B103 584,900 22,350 SH   SOLE   16,150 0 6,200
SYSCO COM 871829107 663,887 10,670 SH   SOLE   7,620 0 3,050
T-MOBILE US INC COM 872590104 148,668 1,300 SH   SOLE   1,300 0 0
TARGET CORP. COM 87612E106 1,369,554 8,700 SH   SOLE   6,300 0 2,400
TE CONNECTIVITY LTD ADR H84989104 672,744 6,883 SH   SOLE   1,783 0 5,100
TELEFONICA BRASIL-ADR COM 87936R106 350,182 45,656 SH   SOLE   11,006 0 34,650
TERADYNE INC. COM 880770102 1,001,196 12,600 SH   SOLE   12,600 0 0
TERUMO CORP COM 006885074 705,051 17,800 SH   SOLE   4,000 0 13,800
TESLA MOTORS COM 88160R101 1,608,788 3,750 SH   SOLE   3,750 0 0
TEXAS INSTRS INC. COM 882508104 1,079,492 7,560 SH   SOLE   5,460 0 2,100
TEXAS ROADHOUSE INC COM 882681109 477,202 7,850 SH   SOLE   7,850 0 0
THERMO FISHER SCIENTIFIC COM 883556102 1,686,606 3,820 SH   SOLE   2,620 0 1,200
TJX COMPANIES INC. COM 872540109 808,038 14,520 SH   SOLE   10,420 0 4,100
TOKYO ELECTRON LTD COM 006895675 1,579,769 6,100 SH   SOLE   1,900 0 4,200
TRAVELERS COMPANIES COM 89417E109 448,989 4,150 SH   SOLE   4,150 0 0
TRELLEBORG AB-B SHS COM 004902384 659,420 37,060 SH   SOLE   11,860 0 25,200
TTM TECHNOLOGIES INC COM 87305R109 50,775 4,450 SH   SOLE   4,450 0 0
TWO HARBORS INVESTMENT CO COM 90187B408 304,128 59,750 SH   SOLE   43,050 0 16,700
TYSON FOOD CL A COM 902494103 559,112 9,400 SH   SOLE   6,800 0 2,600
UBS AG-REG COM 00BRJL176 937,521 83,626 SH   SOLE   18,476 0 65,150
UMICORE COM 00BF44466 546,109 13,100 SH   SOLE   3,100 0 10,000
UNION PACIFIC CORP. COM 907818108 885,915 4,500 SH   SOLE   3,200 0 1,300
UNITED HEALTHCARE COM 91324P102 1,229,933 3,945 SH   SOLE   3,045 0 900
UNITED OVERSEAS BANK LTD COM 006916781 398,695 28,600 SH   SOLE   6,350 0 22,250
UNUMPROVIDENT COM 91529Y106 398,366 23,670 SH   SOLE   17,020 0 6,650
US ECOLOGY INC COM 91734M103 53,906 1,650 SH   SOLE   1,650 0 0
V F CORP. COM 918204108 607,663 8,650 SH   SOLE   6,250 0 2,400
VALERO ENERGY NEW COM 91913Y100 403,742 9,320 SH   SOLE   6,720 0 2,600
VERISK ANALYTICS INC COM 92345Y106 972,878 5,250 SH   SOLE   5,250 0 0
VERIZON COMM. COM 92343V104 2,111,895 35,500 SH   SOLE   25,500 0 10,000
VIACOMCBS INC. B COM 92556H206 424,352 15,150 SH   SOLE   10,850 0 4,300
VISA INC COM 92826C839 2,889,567 14,450 SH   SOLE   12,650 0 1,800
VOYA FINANCIAL INC. COM 929089100 806,183 16,820 SH   SOLE   12,920 0 3,900
VULCAN MATLS COM 929160109 1,295,762 9,560 SH   SOLE   8,060 0 1,500
WAL MART STORES INC. COM 931142103 2,000,713 14,300 SH   SOLE   9,600 0 4,700
WASTE MGMT INC DEL. COM 94106L109 732,210 6,470 SH   SOLE   4,670 0 1,800
WATERS CORP. COM 941848103 234,816 1,200 SH   SOLE   1,200 0 0
WD-40 CO COM 929236107 473,275 2,500 SH   SOLE   2,500 0 0
WEIR GROUP PLC COM 000946580 512,147 31,629 SH   SOLE   6,929 0 24,700
WELLS FARGO & CO COM 949746101 994,473 42,300 SH   SOLE   31,200 0 11,100
WILLIAMS COS. COM 969457100 666,135 33,900 SH   SOLE   24,900 0 9,000
WOLTERS KLUWER COM 005671519 770,707 9,023 SH   SOLE   2,023 0 7,000
WORKDAY INC-CL. A COM 98138H101 408,747 1,900 SH   SOLE   1,900 0 0
WSFS FINL CORP COM 929328102 107,880 4,000 SH   SOLE   4,000 0 0
XPO LOGISTICS INC COM 983793100 76,194 900 SH   SOLE   900 0 0
YAHOO JAPAN CORP COM 006084848 1,471,788 222,200 SH   SOLE   63,300 0 158,900
YAMAHA MOTOR CO LTD COM 006985264 393,733 27,300 SH   SOLE   7,300 0 20,000
ZION BANCORP COM 989701107 217,689 7,450 SH   SOLE   7,450 0 0
ZOETIS INC COM 98978V103 1,964,596 11,880 SH   SOLE   9,980 0 1,900
OCCIDENTAL PETRO. WTS COM 674599162 12,483 4,161 SH   SOLE   3,349 0 812