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 7,082 128,002 SH   SOLE   128,002 0 0
AGCO Corp COM 001084102 410 4,150 SH   SOLE   4,150 0 0
AT & T, Inc. New COM 00206r102 740 35,322 SH   SOLE   35,322 0 0
AbbVie, Inc. COM 00287y109 5,458 35,638 SH   SOLE   35,638 0 0
Abbott Laboratories COM 002824100 8,289 76,288 SH   SOLE   76,288 0 0
Adobe Systems Inc COM 00724F101 257 701 SH   SOLE   701 0 0
Alaska Air Group Inc. COM 011659109 394 9,845 SH   SOLE   9,845 0 0
Alphabet, Inc Non-Voting Class COM 02079k107 483 221 SH   SOLE   221 0 0
Alphabet, Inc Voting Class COM 02079k305 9,319 4,276 SH   SOLE   4,276 0 0
Altria Group Inc. COM 02209s103 6,699 160,384 SH   SOLE   160,384 0 0
Amazon.com, Inc. COM 023135106 565 5,320 SH   SOLE   5,320 0 0
American Express Co. COM 025816109 1,010 7,288 SH   SOLE   7,288 0 0
American International Group COM 026874784 5,384 105,297 SH   SOLE   105,297 0 0
Ameriprise Financial Inc. COM 03076c106 1,079 4,538 SH   SOLE   4,538 0 0
Amgen Inc. COM 031162100 2,167 8,908 SH   SOLE   8,908 0 0
Apple, Inc. COM 037833100 4,876 35,665 SH   SOLE   35,665 0 0
Automatic Data Processing COM 053015103 1,693 8,062 SH   SOLE   8,062 0 0
Bank of America Corp COM 060505104 10,587 340,106 SH   SOLE   340,106 0 0
Bank of New York Mellon Corp COM 064058100 9,820 235,444 SH   SOLE   235,444 0 0
Becton Dickinson & Co COM 075887109 3,290 13,345 SH   SOLE   13,345 0 0
Berkshire Hathaway Inc. Class COM 084670702 6,974 25,543 SH   SOLE   25,543 0 0
Biogen Inc. COM 09062x103 4,842 23,740 SH   SOLE   23,740 0 0
Boeing Company COM 097023105 2,120 15,506 SH   SOLE   15,506 0 0
Booking Holdings Inc. COM 09857L108 3,795 2,170 SH   SOLE   2,170 0 0
Bristol Myers Squibb Co. COM 110122108 2,317 30,096 SH   SOLE   30,096 0 0
CSX Corp COM 126408103 220 7,566 SH   SOLE   7,566 0 0
CVS Health Corp. COM 126650100 10,110 109,109 SH   SOLE   109,109 0 0
Caterpillar Inc. COM 149123101 633 3,540 SH   SOLE   3,540 0 0
Celanese Corp COM 150870103 3,449 29,325 SH   SOLE   29,325 0 0
Central Pacific Financial Co COM 154760409 2,040 95,125 SH   SOLE   95,125 0 0
Chevron Corp. COM 166764100 3,640 25,144 SH   SOLE   25,144 0 0
Cigna Corp COM 125523100 6,767 25,680 SH   SOLE   25,680 0 0
Cisco Sys Inc. COM 17275R102 2,142 50,246 SH   SOLE   50,246 0 0
Citigroup Inc. COM 172967424 3,520 76,535 SH   SOLE   76,535 0 0
Coca-Cola Company COM 191216100 6,335 100,693 SH   SOLE   100,693 0 0
Cognizant Technology Solutions COM 192446102 2,827 41,893 SH   SOLE   41,893 0 0
Comcast Corp Cl A COM 20030n101 3,797 96,767 SH   SOLE   96,767 0 0
ConAgra Foods Inc. COM 205887102 872 25,460 SH   SOLE   25,460 0 0
ConocoPhillips COM 20825c104 2,626 29,244 SH   SOLE   29,244 0 0
Corning Inc COM 219350105 5,219 165,626 SH   SOLE   165,626 0 0
Corteva, Inc. COM 22052L104 3,107 57,386 SH   SOLE   57,386 0 0
Costco Wholesale Corp COM 22160k105 4,363 9,104 SH   SOLE   9,104 0 0
DR Horton, Inc COM 23331a109 1,140 17,220 SH   SOLE   17,220 0 0
Digital Realty Trust COM 253868103 204 1,569 SH   SOLE   1,569 0 0
Dow Inc. COM 260557103 2,951 57,186 SH   SOLE   57,186 0 0
DuPont de Nemours, Inc COM 26614n102 2,823 50,796 SH   SOLE   50,796 0 0
Elevance Health Inc. COM 036752103 22,480 46,583 SH   SOLE   46,583 0 0
Eli Lilly & Co COM 532457108 235 726 SH   SOLE   726 0 0
Exxon Mobil Corp COM 30231G102 1,112 12,986 SH   SOLE   12,986 0 0
Fedex Corp COM 31428X106 3,227 14,235 SH   SOLE   14,235 0 0
Ford Motor Co.- New COM 345370860 166 14,882 SH   SOLE   14,882 0 0
Forrester Research Inc. COM 346563109 911 19,050 SH   SOLE   19,050 0 0
Franklin Resources Inc. COM 354613101 3,034 130,148 SH   SOLE   130,148 0 0
Gates Industrial Corporation P COM g39108108 1,440 133,199 SH   SOLE   133,199 0 0
General Mills COM 370334104 326 4,321 SH   SOLE   4,321 0 0
General Motors Company COM 37045v100 1,228 38,674 SH   SOLE   38,674 0 0
Gilead Sciences Inc. COM 375558103 823 13,308 SH   SOLE   13,308 0 0
Global Medical REIT, Inc. COM 37954a204 135 12,000 SH   SOLE   12,000 0 0
Grand Canyon Education, Inc. COM 38526m106 1,074 11,405 SH   SOLE   11,405 0 0
H&R Block Inc. COM 093671105 2,128 60,252 SH   SOLE   60,252 0 0
HP Inc. COM 40434L105 371 11,324 SH   SOLE   11,324 0 0
Hewlett Packard Enterprise Co. COM 42824c109 157 11,821 SH   SOLE   11,821 0 0
Home Depot Inc. COM 437076102 7,094 25,863 SH   SOLE   25,863 0 0
Illinois Tool Works Inc. COM 452308109 201 1,104 SH   SOLE   1,104 0 0
Ingersoll Rand Inc. COM 45687v106 255 6,055 SH   SOLE   6,055 0 0
Intel Corp. COM 458140100 994 26,561 SH   SOLE   26,561 0 0
International Flavors & Fragra COM 459506101 489 4,102 SH   SOLE   4,102 0 0
Interpublic Group COM 460690100 245 8,912 SH   SOLE   8,912 0 0
IsoRay, Inc. COM 46489v104 4 14,218 SH   SOLE   14,218 0 0
Johnson & Johnson COM 478160104 14,009 78,921 SH   SOLE   78,921 0 0
Keurig Dr. Pepper Inc. COM 49271v100 457 12,924 SH   SOLE   12,924 0 0
Kla-Tencor Corp COM 482480100 266 835 SH   SOLE   835 0 0
Kroger Co. COM 501044101 17,699 373,957 SH   SOLE   373,957 0 0
Laboratory Corp. of America COM 50540r409 280 1,195 SH   SOLE   1,195 0 0
Lamb Weston Holdings COM 513272104 596 8,334 SH   SOLE   8,334 0 0
Lincoln Educational COM 533535100 1,398 221,567 SH   SOLE   221,567 0 0
Lloyds TSB Group COM 539439109 34 16,500 SH   SOLE   16,500 0 0
Lockheed Martin Corp COM 539830109 654 1,520 SH   SOLE   1,520 0 0
Lowes Companies COM 548661107 6,179 35,378 SH   SOLE   35,378 0 0
Lumen Technologies, Inc. COM 550241103 322 29,500 SH   SOLE   29,500 0 0
Manitex Intl COM 563420108 1,191 183,481 SH   SOLE   183,481 0 0
ManpowerGroup Inc. COM 56418h100 314 4,115 SH   SOLE   4,115 0 0
Marsh & McLennan Co. COM 571748102 5,407 34,829 SH   SOLE   34,829 0 0
Mastercard Inc. COM 57636q104 14,774 46,830 SH   SOLE   46,830 0 0
McDonalds Corp COM 580135101 2,948 11,942 SH   SOLE   11,942 0 0
Merck & Co.Inc. New COM 58933y105 11,494 126,069 SH   SOLE   126,069 0 0
Meta Platforms, Inc. COM 30303m102 2,424 15,035 SH   SOLE   15,035 0 0
Microsoft Corp. COM 594918104 30,431 118,487 SH   SOLE   118,487 0 0
Molson Coors Brewing Co COM 60871r209 6,117 112,216 SH   SOLE   112,216 0 0
Mondelez International, Inc. COM 609207105 2,303 37,097 SH   SOLE   37,097 0 0
Monster Beverage Corp. COM 61174x109 3,319 35,800 SH   SOLE   35,800 0 0
Nike Inc Class B COM 654106103 1,578 15,440 SH   SOLE   15,440 0 0
Nucor Corp COM 670346105 205 1,960 SH   SOLE   1,960 0 0
Oracle Corp COM 68389X105 882 12,618 SH   SOLE   12,618 0 0
Organon & Co. COM 68622v106 1,632 48,350 SH   SOLE   48,350 0 0
Paramount Global B COM 92556h206 782 31,680 SH   SOLE   31,680 0 0
Parker-Hannifin Corp. COM 701094104 495 2,010 SH   SOLE   2,010 0 0
Paychex Inc. COM 704326107 4,796 42,116 SH   SOLE   42,116 0 0
Pepsico Inc. COM 713448108 14,053 84,321 SH   SOLE   84,321 0 0
Pfizer Inc. COM 717081103 3,640 69,428 SH   SOLE   69,428 0 0
Philip Morris International COM 718172109 20,174 204,317 SH   SOLE   204,317 0 0
Phillips 66 COM 718546104 1,469 17,912 SH   SOLE   17,912 0 0
Procter & Gamble Co. COM 742718109 3,015 20,970 SH   SOLE   20,970 0 0
Qualcomm Inc COM 747525103 389 3,042 SH   SOLE   3,042 0 0
Quest Diagnostics Inc. COM 74834L100 4,164 31,310 SH   SOLE   31,310 0 0
Raytheon Technologies COM 75513e101 2,991 31,116 SH   SOLE   31,116 0 0
SM Energy Company COM 78454L100 241 7,040 SH   SOLE   7,040 0 0
Sally Beauty Holdings Inc. COM 79546e104 958 80,336 SH   SOLE   80,336 0 0
Stanley Black & Decker Inc. COM 854502101 268 2,556 SH   SOLE   2,556 0 0
Starbucks Corp COM 855244109 1,012 13,253 SH   SOLE   13,253 0 0
Tapestry Inc. COM 876030107 250 8,205 SH   SOLE   8,205 0 0
The Kraft Heinz Company COM 500754106 457 11,979 SH   SOLE   11,979 0 0
The Mosaic Company COM 61945c103 3,017 63,881 SH   SOLE   63,881 0 0
The Travelers Companies Inc. COM 89417e109 8,825 52,177 SH   SOLE   52,177 0 0
The Walt Disney Co. COM 254687106 1,501 15,898 SH   SOLE   15,898 0 0
US Bancorp Delaware New COM 902973304 439 9,535 SH   SOLE   9,535 0 0
Union Pacific Corp COM 907818108 2,068 9,697 SH   SOLE   9,697 0 0
United Parcel Service Inc. COM 911312106 2,940 16,108 SH   SOLE   16,108 0 0
UnitedHealth Group Inc. COM 91324p102 43,638 84,959 SH   SOLE   84,959 0 0
Unum Group COM 91529y106 2,338 68,717 SH   SOLE   68,717 0 0
Valero Energy Corp. COM 91913y100 6,481 60,982 SH   SOLE   60,982 0 0
Value Line Inc. COM 920437100 287 4,339 SH   SOLE   4,339 0 0
Verizon Communications COM 92343V104 1,786 35,191 SH   SOLE   35,191 0 0
Viatris Inc. COM 92556v106 109 10,390 SH   SOLE   10,390 0 0
Visa, Inc. COM 92826c839 8,389 42,607 SH   SOLE   42,607 0 0
WW International, Inc. COM 98262p101 90 14,102 SH   SOLE   14,102 0 0
Wal Mart Stores COM 931142103 6,317 51,957 SH   SOLE   51,957 0 0
Warner Bros. Discovery, Inc. COM 934423104 2,565 191,136 SH   SOLE   191,136 0 0
Washington Federal COM 938824109 1,356 45,163 SH   SOLE   45,163 0 0
Waste Management Inc. Del COM 94106L109 269 1,757 SH   SOLE   1,757 0 0
Wells Fargo & Co. COM 949746101 1,442 36,817 SH   SOLE   36,817 0 0
Western Union Company COM 959802109 430 26,122 SH   SOLE   26,122 0 0
Weyerhaeuser Co. COM 962166104 436 13,172 SH   SOLE   13,172 0 0
Yum! Brands, Inc. COM 988498101 1,331 11,730 SH   SOLE   11,730 0 0
Zimmer Biomet Holdings COM 98956p102 6,520 62,064 SH   SOLE   62,064 0 0
AON Plc FOR g0403h108 769 2,852 SH   SOLE   2,852 0 0
Alibaba Group Holding Limited FOR 01609w102 1,659 14,595 SH   SOLE   14,595 0 0
Alkermes PLC FOR g01767105 439 14,741 SH   SOLE   14,741 0 0
Allegion PLC FOR g0176j109 353 3,605 SH   SOLE   3,605 0 0
America Movil ADR FOR 02364W105 2,304 112,781 SH   SOLE   112,781 0 0
Arcos Dorados Hldgs. FOR g0457f107 2,329 345,482 SH   SOLE   345,482 0 0
BP p.l.c. FOR 055622104 5,734 202,264 SH   SOLE   202,264 0 0
British American Tobacco FOR 110448107 4,523 105,410 SH   SOLE   105,410 0 0
CAE Inc. FOR 124765108 762 30,935 SH   SOLE   30,935 0 0
Colliers International Group FOR 194693107 786 7,160 SH   SOLE   7,160 0 0
Credit Suisse Group ADR FOR 225401108 595 104,853 SH   SOLE   104,853 0 0
Diageo PLC ADR FOR 25243q205 2,081 11,949 SH   SOLE   11,949 0 0
Enbridge Inc. FOR 29250n105 222 5,257 SH   SOLE   5,257 0 0
FirstService Corp Voting Share FOR 33767e103 863 7,123 SH   SOLE   7,123 0 0
Glaxo SmithKline PLC FOR 37733W105 1,999 45,921 SH   SOLE   45,921 0 0
LyondellBasell Industries N.V. FOR n53745100 5,934 67,853 SH   SOLE   67,853 0 0
Medtronic PLC FOR g5960L103 12,871 143,407 SH   SOLE   143,407 0 0
Nokia Corp Sponsored ADR FOR 654902204 73 15,757 SH   SOLE   15,757 0 0
Shell PLC FOR 780259305 915 17,496 SH   SOLE   17,496 0 0
Taiwan Semiconductor Manufactu FOR 874039100 449 5,487 SH   SOLE   5,487 0 0
Telefonica S.A. ADR FOR 879382208 980 191,011 SH   SOLE   191,011 0 0
Textainer Group Holdings Limit FOR g8766e109 2,146 78,275 SH   SOLE   78,275 0 0
Toyota Motor Corp ADR FOR 892331307 245 1,590 SH   SOLE   1,590 0 0
Trane Technologies PLC FOR g8994e103 871 6,705 SH   SOLE   6,705 0 0
Unilever PCL ADR FOR 904767704 4,315 94,163 SH   SOLE   94,163 0 0
Yum China Holdings, Inc. FOR 98850p109 516 10,645 SH   SOLE   10,645 0 0