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
AFLAC Inc. COM 001055102 4,589 126,235 SH   SOLE   126,235 0 0
AGCO Corp COM 001084102 345 4,650 SH   SOLE   4,650 0 0
AT & T, Inc. New COM 00206r102 1,088 38,167 SH   SOLE   38,167 0 0
AbbVie, Inc. COM 00287y109 3,202 36,562 SH   SOLE   36,562 0 0
Abbott Laboratories COM 002824100 9,382 86,208 SH   SOLE   86,208 0 0
Adobe Systems Inc COM 00724F101 395 806 SH   SOLE   806 0 0
Alaska Air Group Inc. COM 011659109 421 11,495 SH   SOLE   11,495 0 0
Alphabet, Inc Non-Voting Class COM 02079k107 331 225 SH   SOLE   225 0 0
Alphabet, Inc Voting Class COM 02079k305 6,312 4,307 SH   SOLE   4,307 0 0
Altria Group Inc. COM 02209s103 5,987 154,934 SH   SOLE   154,934 0 0
Amazon.com, Inc. COM 023135106 444 141 SH   SOLE   141 0 0
American Express Co. COM 025816109 868 8,658 SH   SOLE   8,658 0 0
American International Group COM 026874784 2,848 103,467 SH   SOLE   103,467 0 0
Ameriprise Financial Inc. COM 03076c106 715 4,638 SH   SOLE   4,638 0 0
Amgen Inc. COM 031162100 1,303 5,128 SH   SOLE   5,128 0 0
Anthem, Inc. COM 036752103 13,061 48,629 SH   SOLE   48,629 0 0
Apple, Inc. COM 037833100 4,482 38,705 SH   SOLE   38,705 0 0
Automatic Data Processing COM 053015103 1,163 8,337 SH   SOLE   8,337 0 0
Bank of America Corp COM 060505104 8,188 339,887 SH   SOLE   339,887 0 0
Bank of New York Mellon Corp COM 064058100 8,245 240,104 SH   SOLE   240,104 0 0
Becton Dickinson & Co COM 075887109 4,372 18,790 SH   SOLE   18,790 0 0
Berkshire Hathaway Inc. Class COM 084670702 5,581 26,208 SH   SOLE   26,208 0 0
Biogen Inc. COM 09062x103 6,884 24,267 SH   SOLE   24,267 0 0
Boeing Company COM 097023105 2,510 15,186 SH   SOLE   15,186 0 0
Booking Holdings Inc. COM 09857L108 3,770 2,204 SH   SOLE   2,204 0 0
Bristol Myers Squibb Co. COM 110122108 1,051 17,439 SH   SOLE   17,439 0 0
CVS Health Corp. COM 126650100 5,560 95,198 SH   SOLE   95,198 0 0
Caterpillar Inc. COM 149123101 528 3,540 SH   SOLE   3,540 0 0
Celanese Corp COM 150870103 3,215 29,925 SH   SOLE   29,925 0 0
Central Pacific Financial Co COM 154760409 1,338 98,597 SH   SOLE   98,597 0 0
Cerner Corporation COM 156782104 5,846 80,865 SH   SOLE   80,865 0 0
Chevron Corp. COM 166764100 1,994 27,699 SH   SOLE   27,699 0 0
Cigna Corp COM 125523100 4,000 23,612 SH   SOLE   23,612 0 0
Cisco Sys Inc. COM 17275R102 2,132 54,121 SH   SOLE   54,121 0 0
Citigroup Inc. COM 172967424 3,320 77,020 SH   SOLE   77,020 0 0
Coca-Cola Company COM 191216100 5,981 121,153 SH   SOLE   121,153 0 0
Cognizant Technology Solutions COM 192446102 3,097 44,613 SH   SOLE   44,613 0 0
Comcast Corp Cl A COM 20030n101 4,631 100,112 SH   SOLE   100,112 0 0
Compass Minerals Intl. COM 20451n101 215 3,620 SH   SOLE   3,620 0 0
ConAgra Foods Inc. COM 205887102 949 26,575 SH   SOLE   26,575 0 0
ConocoPhillips COM 20825c104 987 30,044 SH   SOLE   30,044 0 0
Corning Inc COM 219350105 5,549 171,201 SH   SOLE   171,201 0 0
Corteva, Inc. COM 22052L104 1,688 58,593 SH   SOLE   58,593 0 0
Costco Wholesale Corp COM 22160k105 3,447 9,710 SH   SOLE   9,710 0 0
DR Horton, Inc COM 23331a109 1,278 16,900 SH   SOLE   16,900 0 0
Delta Airlines - New COM 247361702 387 12,650 SH   SOLE   12,650 0 0
Digital Realty Trust COM 253868103 279 1,900 SH   SOLE   1,900 0 0
Discovery,Inc. Series A COM 25470f104 4,252 195,332 SH   SOLE   195,332 0 0
Dow Inc. COM 260557103 2,756 58,576 SH   SOLE   58,576 0 0
DuPont de Nemours, Inc COM 26614n102 3,211 57,885 SH   SOLE   57,885 0 0
Dunkin Brands Group, Inc. COM 265504100 395 4,825 SH   SOLE   4,825 0 0
Exxon Mobil Corp COM 30231G102 480 13,973 SH   SOLE   13,973 0 0
Facebook, Inc. COM 30303m102 3,631 13,865 SH   SOLE   13,865 0 0
Fedex Corp COM 31428X106 3,640 14,473 SH   SOLE   14,473 0 0
Ford Motor Co.- New COM 345370860 79 11,932 SH   SOLE   11,932 0 0
Forrester Research Inc. COM 346563109 625 19,050 SH   SOLE   19,050 0 0
Franklin Resources Inc. COM 354613101 2,714 133,388 SH   SOLE   133,388 0 0
Gates Industrial Corporation P COM g39108108 326 29,357 SH   SOLE   29,357 0 0
General Electric Co. COM 369604103 141 22,591 SH   SOLE   22,591 0 0
General Mills COM 370334104 297 4,821 SH   SOLE   4,821 0 0
General Motors Company COM 37045v100 1,148 38,799 SH   SOLE   38,799 0 0
Gilead Sciences Inc. COM 375558103 976 15,453 SH   SOLE   15,453 0 0
H & R Block Inc. COM 093671105 1,037 63,667 SH   SOLE   63,667 0 0
HP Inc. COM 40434L105 235 12,368 SH   SOLE   12,368 0 0
Hewlett Packard Enterprise Co. COM 42824c109 125 13,365 SH   SOLE   13,365 0 0
Home Depot Inc. COM 437076102 7,375 26,556 SH   SOLE   26,556 0 0
Illinois Tool Works Inc. COM 452308109 217 1,121 SH   SOLE   1,121 0 0
Ingersoll Rand Inc. COM 45687v106 326 9,163 SH   SOLE   9,163 0 0
Intel Corp. COM 458140100 1,394 26,931 SH   SOLE   26,931 0 0
IsoRay, Inc. COM 46489v104 8 14,218 SH   SOLE   14,218 0 0
Johnson & Johnson COM 478160104 13,431 90,215 SH   SOLE   90,215 0 0
Keurig Dr. Pepper Inc. COM 49271v100 370 13,399 SH   SOLE   13,399 0 0
Kroger Co. COM 501044101 12,827 378,276 SH   SOLE   378,276 0 0
Laboratory Corp. of America COM 50540r409 260 1,380 SH   SOLE   1,380 0 0
Lamb Weston Holdings COM 513272104 630 9,509 SH   SOLE   9,509 0 0
Lincoln Educational COM 533535100 1,126 204,061 SH   SOLE   204,061 0 0
Lloyds TSB Group COM 539439109 25 19,500 SH   SOLE   19,500 0 0
Lowes Companies COM 548661107 5,746 34,645 SH   SOLE   34,645 0 0
Lumen Technologies, Inc. COM 550241103 415 41,150 SH   SOLE   41,150 0 0
Manitex Intl COM 563420108 786 188,506 SH   SOLE   188,506 0 0
ManpowerGroup Inc. COM 56418h100 323 4,400 SH   SOLE   4,400 0 0
Marsh & McLennan Co. COM 571748102 4,219 36,787 SH   SOLE   36,787 0 0
Mastercard Inc. COM 57636q104 17,756 52,505 SH   SOLE   52,505 0 0
McDonalds Corp COM 580135101 2,655 12,095 SH   SOLE   12,095 0 0
Merck & Co.Inc. New COM 58933y105 10,476 126,291 SH   SOLE   126,291 0 0
Microsoft Corp. COM 594918104 26,380 125,422 SH   SOLE   125,422 0 0
Molson Coors Brewing Co COM 60871r209 3,696 110,126 SH   SOLE   110,126 0 0
Mondelez International, Inc. COM 609207105 2,198 38,254 SH   SOLE   38,254 0 0
Monster Beverage Corp. COM 61174x109 2,871 35,800 SH   SOLE   35,800 0 0
Nike Inc Class B COM 654106103 2,078 16,550 SH   SOLE   16,550 0 0
Oracle Corp COM 68389X105 755 12,653 SH   SOLE   12,653 0 0
Parker-Hannifin Corp. COM 701094104 242 1,195 SH   SOLE   1,195 0 0
PayPal Holdings, Inc. COM 70450y103 309 1,567 SH   SOLE   1,567 0 0
Paychex Inc. COM 704326107 3,504 43,925 SH   SOLE   43,925 0 0
Pepsico Inc. COM 713448108 14,703 106,083 SH   SOLE   106,083 0 0
Pfizer Inc. COM 717081103 3,124 85,126 SH   SOLE   85,126 0 0
Philip Morris International COM 718172109 15,458 206,131 SH   SOLE   206,131 0 0
Phillips 66 COM 718546104 983 18,962 SH   SOLE   18,962 0 0
Procter & Gamble Co. COM 742718109 3,901 28,067 SH   SOLE   28,067 0 0
Qualcomm Inc COM 747525103 360 3,060 SH   SOLE   3,060 0 0
Quest Diagnostics Inc. COM 74834L100 4,236 36,995 SH   SOLE   36,995 0 0
Raytheon Technologies COM 75513e101 1,756 30,516 SH   SOLE   30,516 0 0
Sally Beauty Holdings Inc. COM 79546e104 745 85,686 SH   SOLE   85,686 0 0
Starbucks Corp COM 855244109 1,185 13,793 SH   SOLE   13,793 0 0
The Kraft Heinz Company COM 500754106 373 12,457 SH   SOLE   12,457 0 0
The Mosaic Company COM 61945c103 1,210 66,206 SH   SOLE   66,206 0 0
The Travelers Companies Inc. COM 89417e109 6,606 61,058 SH   SOLE   61,058 0 0
The Walt Disney Co. COM 254687106 2,061 16,612 SH   SOLE   16,612 0 0
US Bancorp Delaware New COM 902973304 342 9,535 SH   SOLE   9,535 0 0
Union Pacific Corp COM 907818108 2,065 10,490 SH   SOLE   10,490 0 0
United Parcel Service Inc. COM 911312106 2,745 16,471 SH   SOLE   16,471 0 0
UnitedHealth Group Inc. COM 91324p102 27,476 88,129 SH   SOLE   88,129 0 0
Unum Group COM 91529y106 1,201 71,351 SH   SOLE   71,351 0 0
Valero Energy Corp. COM 91913y100 2,688 62,059 SH   SOLE   62,059 0 0
Verizon Communications COM 92343V104 2,240 37,650 SH   SOLE   37,650 0 0
ViacomCBS Inc. B COM 92556h206 339 12,095 SH   SOLE   12,095 0 0
Visa, Inc. COM 92826c839 8,644 43,228 SH   SOLE   43,228 0 0
WW International, Inc. COM 98262p101 275 14,597 SH   SOLE   14,597 0 0
Wal Mart Stores COM 931142103 7,509 53,667 SH   SOLE   53,667 0 0
Washington Federal COM 938824109 970 46,512 SH   SOLE   46,512 0 0
Waste Management Inc. Del COM 94106L109 202 1,782 SH   SOLE   1,782 0 0
Wells Fargo & Co. COM 949746101 836 35,564 SH   SOLE   35,564 0 0
Western Union Company COM 959802109 597 27,835 SH   SOLE   27,835 0 0
Weyerhaeuser Co. COM 962166104 379 13,272 SH   SOLE   13,272 0 0
Yum! Brands, Inc. COM 988498101 1,199 13,137 SH   SOLE   13,137 0 0
Zimmer Biomet Holdings COM 98956p102 9,509 69,849 SH   SOLE   69,849 0 0
AON Plc FOR g0403h108 274 1,327 SH   SOLE   1,327 0 0
Alkermes PLC FOR g01767105 453 27,366 SH   SOLE   27,366 0 0
Allegion PLC FOR g0176j109 360 3,637 SH   SOLE   3,637 0 0
America Movil ADR FOR 02364W105 2,466 197,419 SH   SOLE   197,419 0 0
Arcos Dorados Hldgs. FOR g0457f107 1,233 300,824 SH   SOLE   300,824 0 0
BP p.l.c. FOR 055622104 3,591 205,654 SH   SOLE   205,654 0 0
British American Tobacco FOR 110448107 2,735 75,660 SH   SOLE   75,660 0 0
CAE Inc. FOR 124765108 441 30,135 SH   SOLE   30,135 0 0
Colliers International Group FOR 194693107 478 7,160 SH   SOLE   7,160 0 0
Credit Suisse Group ADR FOR 225401108 2,131 213,723 SH   SOLE   213,723 0 0
Diageo PLC ADR FOR 25243q205 1,728 12,554 SH   SOLE   12,554 0 0
FirstService Corp Voting Share FOR 33767e103 977 7,410 SH   SOLE   7,410 0 0
Glaxo SmithKline PLC FOR 37733W105 2,117 56,246 SH   SOLE   56,246 0 0
LyondellBasell Industries N.V. FOR n53745100 5,013 71,118 SH   SOLE   71,118 0 0
Medtronic PLC FOR g5960L103 14,966 144,015 SH   SOLE   144,015 0 0
Nokia Corp Sponsored ADR FOR 654902204 67 17,037 SH   SOLE   17,037 0 0
Royal Dutch Shell PLC A FOR 780259206 466 18,503 SH   SOLE   18,503 0 0
Taiwan Semiconductor Manufactu FOR 874039100 445 5,487 SH   SOLE   5,487 0 0
Telefonica S.A. ADR FOR 879382208 1,030 299,386 SH   SOLE   299,386 0 0
Textainer Group Holdings Limit FOR g8766e109 1,134 80,100 SH   SOLE   80,100 0 0
Toyota Motor Corp ADR FOR 892331307 221 1,670 SH   SOLE   1,670 0 0
Trane Technologies PLC FOR g8994e103 1,256 10,355 SH   SOLE   10,355 0 0
Unilever NV New York Shs FOR 904784709 5,599 92,698 SH   SOLE   92,698 0 0
Yum China Holdings, Inc. FOR 98850p109 641 12,102 SH   SOLE   12,102 0 0