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
AFLAC Inc. COM 001055102 8,242 128,002 SH   SOLE   128,002 0 0
AGCO Corp COM 001084102 606 4,150 SH   SOLE   4,150 0 0
AT & T, Inc. New COM 00206r102 844 35,707 SH   SOLE   35,707 0 0
AbbVie, Inc. COM 00287y109 5,786 35,693 SH   SOLE   35,693 0 0
Abbott Laboratories COM 002824100 9,148 77,287 SH   SOLE   77,287 0 0
Adobe Systems Inc COM 00724F101 351 771 SH   SOLE   771 0 0
Alaska Air Group Inc. COM 011659109 577 9,945 SH   SOLE   9,945 0 0
Alphabet, Inc Non-Voting Class COM 02079k107 617 221 SH   SOLE   221 0 0
Alphabet, Inc Voting Class COM 02079k305 11,846 4,259 SH   SOLE   4,259 0 0
Altria Group Inc. COM 02209s103 8,377 160,334 SH   SOLE   160,334 0 0
Amazon.com, Inc. COM 023135106 802 246 SH   SOLE   246 0 0
American Express Co. COM 025816109 1,363 7,288 SH   SOLE   7,288 0 0
American International Group COM 026874784 6,609 105,297 SH   SOLE   105,297 0 0
Ameriprise Financial Inc. COM 03076c106 1,363 4,538 SH   SOLE   4,538 0 0
Amgen Inc. COM 031162100 2,154 8,908 SH   SOLE   8,908 0 0
Andersons Inc. COM 034164103 226 4,489 SH   SOLE   4,489 0 0
Anthem, Inc. COM 036752103 22,898 46,614 SH   SOLE   46,614 0 0
Apple, Inc. COM 037833100 6,401 36,656 SH   SOLE   36,656 0 0
Automatic Data Processing COM 053015103 1,834 8,062 SH   SOLE   8,062 0 0
Bank of America Corp COM 060505104 14,019 340,104 SH   SOLE   340,104 0 0
Bank of New York Mellon Corp COM 064058100 11,686 235,454 SH   SOLE   235,454 0 0
Becton Dickinson & Co COM 075887109 3,550 13,345 SH   SOLE   13,345 0 0
Berkshire Hathaway Inc. Class COM 084670702 9,034 25,598 SH   SOLE   25,598 0 0
Biogen Inc. COM 09062x103 5,014 23,810 SH   SOLE   23,810 0 0
Boeing Company COM 097023105 2,971 15,514 SH   SOLE   15,514 0 0
Booking Holdings Inc. COM 09857L108 5,101 2,172 SH   SOLE   2,172 0 0
Bristol Myers Squibb Co. COM 110122108 2,271 31,095 SH   SOLE   31,095 0 0
CSX Corp COM 126408103 306 8,166 SH   SOLE   8,166 0 0
CVS Health Corp. COM 126650100 11,045 109,134 SH   SOLE   109,134 0 0
Caterpillar Inc. COM 149123101 789 3,540 SH   SOLE   3,540 0 0
Celanese Corp COM 150870103 4,190 29,325 SH   SOLE   29,325 0 0
Central Pacific Financial Co COM 154760409 2,654 95,125 SH   SOLE   95,125 0 0
Chevron Corp. COM 166764100 4,128 25,349 SH   SOLE   25,349 0 0
Cigna Corp COM 125523100 6,153 25,680 SH   SOLE   25,680 0 0
Cisco Sys Inc. COM 17275R102 2,806 50,321 SH   SOLE   50,321 0 0
Citigroup Inc. COM 172967424 4,110 76,975 SH   SOLE   76,975 0 0
Coca-Cola Company COM 191216100 6,437 103,826 SH   SOLE   103,826 0 0
Cognizant Technology Solutions COM 192446102 3,757 41,893 SH   SOLE   41,893 0 0
Comcast Corp Cl A COM 20030n101 4,535 96,857 SH   SOLE   96,857 0 0
Compass Minerals Intl. COM 20451n101 227 3,620 SH   SOLE   3,620 0 0
ConAgra Foods Inc. COM 205887102 856 25,485 SH   SOLE   25,485 0 0
ConocoPhillips COM 20825c104 2,924 29,244 SH   SOLE   29,244 0 0
Corning Inc COM 219350105 6,169 167,126 SH   SOLE   167,126 0 0
Corteva, Inc. COM 22052L104 3,299 57,386 SH   SOLE   57,386 0 0
Costco Wholesale Corp COM 22160k105 5,277 9,164 SH   SOLE   9,164 0 0
DR Horton, Inc COM 23331a109 1,283 17,220 SH   SOLE   17,220 0 0
Delta Airlines - New COM 247361702 269 6,800 SH   SOLE   6,800 0 0
Digital Realty Trust COM 253868103 242 1,704 SH   SOLE   1,704 0 0
Discovery, Inc. Series A COM 25470f104 4,346 174,405 SH   SOLE   174,405 0 0
Discovery,Inc. Series C COM 25470F302 205 8,211 SH   SOLE   8,211 0 0
Dow Inc. COM 260557103 3,644 57,186 SH   SOLE   57,186 0 0
DuPont de Nemours, Inc COM 26614n102 3,738 50,796 SH   SOLE   50,796 0 0
Eli Lilly & Co COM 532457108 208 726 SH   SOLE   726 0 0
Exxon Mobil Corp COM 30231G102 1,073 12,986 SH   SOLE   12,986 0 0
Fedex Corp COM 31428X106 3,296 14,245 SH   SOLE   14,245 0 0
Ford Motor Co.- New COM 345370860 216 12,782 SH   SOLE   12,782 0 0
Forrester Research Inc. COM 346563109 1,075 19,050 SH   SOLE   19,050 0 0
Fox Corporation Class A COM 35137L105 215 5,453 SH   SOLE   5,453 0 0
Franklin Resources Inc. COM 354613101 3,634 130,148 SH   SOLE   130,148 0 0
Gates Industrial Corporation P COM g39108108 1,703 113,049 SH   SOLE   113,049 0 0
General Electric Co. COM 369604103 220 2,405 SH   SOLE   2,405 0 0
General Mills COM 370334104 293 4,321 SH   SOLE   4,321 0 0
General Motors Company COM 37045v100 1,692 38,674 SH   SOLE   38,674 0 0
Gilead Sciences Inc. COM 375558103 791 13,308 SH   SOLE   13,308 0 0
Global Medical REIT, Inc. COM 37954a204 196 12,000 SH   SOLE   12,000 0 0
Grand Canyon Education, Inc. COM 38526m106 1,108 11,405 SH   SOLE   11,405 0 0
H&R Block Inc. COM 093671105 1,596 61,302 SH   SOLE   61,302 0 0
HP Inc. COM 40434L105 411 11,324 SH   SOLE   11,324 0 0
Hewlett Packard Enterprise Co. COM 42824c109 198 11,821 SH   SOLE   11,821 0 0
Home Depot Inc. COM 437076102 7,748 25,883 SH   SOLE   25,883 0 0
Illinois Tool Works Inc. COM 452308109 231 1,104 SH   SOLE   1,104 0 0
Ingersoll Rand Inc. COM 45687v106 305 6,055 SH   SOLE   6,055 0 0
Intel Corp. COM 458140100 1,331 26,861 SH   SOLE   26,861 0 0
International Flavors & Fragra COM 459506101 539 4,102 SH   SOLE   4,102 0 0
Interpublic Group COM 460690100 316 8,912 SH   SOLE   8,912 0 0
IsoRay, Inc. COM 46489v104 5 14,218 SH   SOLE   14,218 0 0
Johnson & Johnson COM 478160104 14,253 80,421 SH   SOLE   80,421 0 0
Keurig Dr. Pepper Inc. COM 49271v100 490 12,924 SH   SOLE   12,924 0 0
Kla-Tencor Corp COM 482480100 306 835 SH   SOLE   835 0 0
Kroger Co. COM 501044101 21,454 373,957 SH   SOLE   373,957 0 0
Laboratory Corp. of America COM 50540r409 316 1,200 SH   SOLE   1,200 0 0
Lamb Weston Holdings COM 513272104 499 8,334 SH   SOLE   8,334 0 0
Lincoln Educational COM 533535100 1,584 221,567 SH   SOLE   221,567 0 0
Lloyds TSB Group COM 539439109 40 16,500 SH   SOLE   16,500 0 0
Lockheed Martin Corp COM 539830109 671 1,520 SH   SOLE   1,520 0 0
Lowes Companies COM 548661107 6,862 33,938 SH   SOLE   33,938 0 0
Lumen Technologies, Inc. COM 550241103 332 29,500 SH   SOLE   29,500 0 0
Manitex Intl COM 563420108 1,339 183,881 SH   SOLE   183,881 0 0
ManpowerGroup Inc. COM 56418h100 386 4,115 SH   SOLE   4,115 0 0
Marsh & McLennan Co. COM 571748102 5,954 34,935 SH   SOLE   34,935 0 0
Mastercard Inc. COM 57636q104 16,736 46,830 SH   SOLE   46,830 0 0
McDonalds Corp COM 580135101 2,970 12,012 SH   SOLE   12,012 0 0
Merck & Co.Inc. New COM 58933y105 10,468 127,579 SH   SOLE   127,579 0 0
Meta Platforms, Inc. COM 30303m102 3,343 15,035 SH   SOLE   15,035 0 0
Microsoft Corp. COM 594918104 37,253 120,829 SH   SOLE   120,829 0 0
Molson Coors Brewing Co COM 60871r209 5,974 111,916 SH   SOLE   111,916 0 0
Mondelez International, Inc. COM 609207105 2,329 37,097 SH   SOLE   37,097 0 0
Monster Beverage Corp. COM 61174x109 2,860 35,800 SH   SOLE   35,800 0 0
Nike Inc Class B COM 654106103 2,078 15,440 SH   SOLE   15,440 0 0
Nucor Corp COM 670346105 336 2,260 SH   SOLE   2,260 0 0
Oracle Corp COM 68389X105 1,044 12,618 SH   SOLE   12,618 0 0
Organon & Co. COM 68622v106 1,689 48,350 SH   SOLE   48,350 0 0
Paramount Global B COM 92556h206 1,179 31,180 SH   SOLE   31,180 0 0
Parker-Hannifin Corp. COM 701094104 254 895 SH   SOLE   895 0 0
Paychex Inc. COM 704326107 5,758 42,195 SH   SOLE   42,195 0 0
Pepsico Inc. COM 713448108 14,284 85,336 SH   SOLE   85,336 0 0
Pfizer Inc. COM 717081103 3,635 70,218 SH   SOLE   70,218 0 0
Philip Morris International COM 718172109 19,194 204,327 SH   SOLE   204,327 0 0
Phillips 66 COM 718546104 1,560 18,062 SH   SOLE   18,062 0 0
Procter & Gamble Co. COM 742718109 3,204 20,970 SH   SOLE   20,970 0 0
Qualcomm Inc COM 747525103 465 3,042 SH   SOLE   3,042 0 0
Quest Diagnostics Inc. COM 74834L100 4,287 31,325 SH   SOLE   31,325 0 0
Raytheon Technologies COM 75513e101 3,102 31,316 SH   SOLE   31,316 0 0
Ryan Specialty Group Holdings COM 78351f107 314 8,100 SH   SOLE   8,100 0 0
SM Energy Company COM 78454L100 274 7,040 SH   SOLE   7,040 0 0
Sally Beauty Holdings Inc. COM 79546e104 1,240 79,336 SH   SOLE   79,336 0 0
Stanley Black & Decker Inc. COM 854502101 355 2,536 SH   SOLE   2,536 0 0
Starbucks Corp COM 855244109 1,206 13,253 SH   SOLE   13,253 0 0
Stryker Corporation COM 863667101 202 755 SH   SOLE   755 0 0
Tapestry Inc. COM 876030107 310 8,355 SH   SOLE   8,355 0 0
The Kraft Heinz Company COM 500754106 472 11,979 SH   SOLE   11,979 0 0
The Mosaic Company COM 61945c103 4,255 63,981 SH   SOLE   63,981 0 0
The Travelers Companies Inc. COM 89417e109 10,648 58,273 SH   SOLE   58,273 0 0
The Walt Disney Co. COM 254687106 2,153 15,698 SH   SOLE   15,698 0 0
US Bancorp Delaware New COM 902973304 507 9,535 SH   SOLE   9,535 0 0
Union Pacific Corp COM 907818108 2,787 10,202 SH   SOLE   10,202 0 0
United Parcel Service Inc. COM 911312106 3,454 16,107 SH   SOLE   16,107 0 0
UnitedHealth Group Inc. COM 91324p102 43,815 85,917 SH   SOLE   85,917 0 0
Unum Group COM 91529y106 2,165 68,717 SH   SOLE   68,717 0 0
Valero Energy Corp. COM 91913y100 6,192 60,982 SH   SOLE   60,982 0 0
Value Line Inc. COM 920437100 291 4,339 SH   SOLE   4,339 0 0
Verizon Communications COM 92343V104 1,796 35,266 SH   SOLE   35,266 0 0
Viatris Inc. COM 92556v106 114 10,439 SH   SOLE   10,439 0 0
Visa, Inc. COM 92826c839 9,449 42,607 SH   SOLE   42,607 0 0
WW International, Inc. COM 98262p101 146 14,282 SH   SOLE   14,282 0 0
Wal Mart Stores COM 931142103 7,746 52,012 SH   SOLE   52,012 0 0
Washington Federal COM 938824109 1,482 45,163 SH   SOLE   45,163 0 0
Waste Management Inc. Del COM 94106L109 278 1,757 SH   SOLE   1,757 0 0
Wells Fargo & Co. COM 949746101 1,785 36,837 SH   SOLE   36,837 0 0
Western Union Company COM 959802109 493 26,289 SH   SOLE   26,289 0 0
Weyerhaeuser Co. COM 962166104 518 13,672 SH   SOLE   13,672 0 0
Yum! Brands, Inc. COM 988498101 1,390 11,730 SH   SOLE   11,730 0 0
Zimmer Biomet Holdings COM 98956p102 7,938 62,064 SH   SOLE   62,064 0 0
AON Plc FOR g0403h108 929 2,852 SH   SOLE   2,852 0 0
Alibaba Group Holding Limited FOR 01609w102 1,588 14,595 SH   SOLE   14,595 0 0
Alkermes PLC FOR g01767105 440 16,741 SH   SOLE   16,741 0 0
Allegion PLC FOR g0176j109 396 3,605 SH   SOLE   3,605 0 0
America Movil ADR FOR 02364W105 3,182 150,444 SH   SOLE   150,444 0 0
Arcos Dorados Hldgs. FOR g0457f107 2,946 362,321 SH   SOLE   362,321 0 0
BP p.l.c. FOR 055622104 5,947 202,264 SH   SOLE   202,264 0 0
British American Tobacco FOR 110448107 4,393 104,198 SH   SOLE   104,198 0 0
CAE Inc. FOR 124765108 807 30,935 SH   SOLE   30,935 0 0
Colliers International Group FOR 194693107 934 7,160 SH   SOLE   7,160 0 0
Credit Suisse Group ADR FOR 225401108 1,420 180,883 SH   SOLE   180,883 0 0
Diageo PLC ADR FOR 25243q205 2,429 11,959 SH   SOLE   11,959 0 0
Enbridge Inc. FOR 29250n105 242 5,257 SH   SOLE   5,257 0 0
FirstService Corp Voting Share FOR 33767e103 1,032 7,123 SH   SOLE   7,123 0 0
Glaxo SmithKline PLC FOR 37733W105 2,001 45,941 SH   SOLE   45,941 0 0
LyondellBasell Industries N.V. FOR n53745100 7,098 69,038 SH   SOLE   69,038 0 0
Medtronic PLC FOR g5960L103 15,625 140,832 SH   SOLE   140,832 0 0
Nokia Corp Sponsored ADR FOR 654902204 88 16,157 SH   SOLE   16,157 0 0
Shell PLC FOR 780259305 912 16,596 SH   SOLE   16,596 0 0
Taiwan Semiconductor Manufactu FOR 874039100 572 5,487 SH   SOLE   5,487 0 0
Telefonica S.A. ADR FOR 879382208 889 185,258 SH   SOLE   185,258 0 0
Textainer Group Holdings Limit FOR g8766e109 2,980 78,275 SH   SOLE   78,275 0 0
Toyota Motor Corp ADR FOR 892331307 287 1,590 SH   SOLE   1,590 0 0
Trane Technologies PLC FOR g8994e103 1,024 6,705 SH   SOLE   6,705 0 0
Unilever PCL ADR FOR 904767704 4,286 94,063 SH   SOLE   94,063 0 0
Yum China Holdings, Inc. FOR 98850p109 442 10,645 SH   SOLE   10,645 0 0