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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AFLAC Inc. COM 001055102   9,903,382 120,041 SH   SOLE   120,041 0 0
AGCO Corp COM 001084102   503,851 4,150 SH   SOLE   4,150 0 0
AT & T, Inc. New COM 00206r102   430,281 25,642 SH   SOLE   25,642 0 0
AbbVie, Inc. COM 00287y109   5,486,248 35,402 SH   SOLE   35,402 0 0
Abbott Laboratories COM 002824100   7,995,258 72,638 SH   SOLE   72,638 0 0
Adobe Systems Inc COM 00724F101   401,512 673 SH   SOLE   673 0 0
Alaska Air Group Inc. COM 011659109   353,388 9,045 SH   SOLE   9,045 0 0
Alphabet, Inc Non-Voting Class COM 02079k107   698,167 4,954 SH   SOLE   4,954 0 0
Alphabet, Inc Voting Class COM 02079k305   12,249,695 87,692 SH   SOLE   87,692 0 0
Altria Group Inc. COM 02209s103   6,263,484 155,267 SH   SOLE   155,267 0 0
Amazon.com, Inc. COM 023135106   849,345 5,590 SH   SOLE   5,590 0 0
American Express Co. COM 025816109   1,360,650 7,263 SH   SOLE   7,263 0 0
American International Group COM 026874784   7,165,172 105,759 SH   SOLE   105,759 0 0
Ameriprise Financial Inc. COM 03076c106   1,671,632 4,401 SH   SOLE   4,401 0 0
Amgen Inc. COM 031162100   2,596,500 9,015 SH   SOLE   9,015 0 0
Andersons Inc. COM 034164103   258,297 4,489 SH   SOLE   4,489 0 0
Apple, Inc. COM 037833100   5,585,873 29,013 SH   SOLE   29,013 0 0
Applied Materials Inc Delaware COM 038222105   207,936 1,283 SH   SOLE   1,283 0 0
Automatic Data Processing COM 053015103   1,795,034 7,705 SH   SOLE   7,705 0 0
Bank of America Corp COM 060505104   11,527,346 342,363 SH   SOLE   342,363 0 0
Bank of New York Mellon Corp COM 064058100   11,630,260 223,444 SH   SOLE   223,444 0 0
Becton Dickinson & Co COM 075887109   3,210,022 13,165 SH   SOLE   13,165 0 0
Berkshire Hathaway Inc. Class COM 084670702   8,944,319 25,078 SH   SOLE   25,078 0 0
Biogen Inc. COM 09062x103   5,604,441 21,658 SH   SOLE   21,658 0 0
Boeing Company COM 097023105   3,786,868 14,528 SH   SOLE   14,528 0 0
Booking Holdings Inc. COM 09857L108   7,619,429 2,148 SH   SOLE   2,148 0 0
Bristol Myers Squibb Co. COM 110122108   1,373,782 26,774 SH   SOLE   26,774 0 0
CSX Corp COM 126408103   262,313 7,566 SH   SOLE   7,566 0 0
CVS Health Corp. COM 126650100   8,818,235 111,680 SH   SOLE   111,680 0 0
Caterpillar Inc. COM 149123101   955,014 3,230 SH   SOLE   3,230 0 0
Celanese Corp COM 150870103   4,392,931 28,274 SH   SOLE   28,274 0 0
Central Pacific Financial Corp COM 154760409   1,720,032 87,400 SH   SOLE   87,400 0 0
Chevron Corp. COM 166764100   4,093,547 27,444 SH   SOLE   27,444 0 0
Cisco Sys Inc. COM 17275R102   2,376,562 47,042 SH   SOLE   47,042 0 0
Citigroup Inc. COM 172967424   3,681,612 71,571 SH   SOLE   71,571 0 0
Coca-Cola Company COM 191216100   5,706,124 96,829 SH   SOLE   96,829 0 0
Cognizant Technology Solutions COM 192446102   3,057,530 40,481 SH   SOLE   40,481 0 0
Comcast Corp Cl A COM 20030n101   4,192,104 95,601 SH   SOLE   95,601 0 0
ConAgra Foods Inc. COM 205887102   683,398 23,845 SH   SOLE   23,845 0 0
ConocoPhillips COM 20825c104   3,322,736 28,627 SH   SOLE   28,627 0 0
Corning Inc COM 219350105   4,825,594 158,476 SH   SOLE   158,476 0 0
Corteva, Inc. COM 22052L104   2,809,406 58,627 SH   SOLE   58,627 0 0
Costco Wholesale Corp COM 22160k105   5,745,109 8,704 SH   SOLE   8,704 0 0
DR Horton, Inc COM 23331a109   2,538,066 16,700 SH   SOLE   16,700 0 0
Deere & Co COM 244199105   243,921 610 SH   SOLE   610 0 0
Delta Airlines - New COM 247361702   258,478 6,425 SH   SOLE   6,425 0 0
Devon Energy Corp. COM 25179m103   425,820 9,400 SH   SOLE   9,400 0 0
Domino's Pizza Inc. COM 25754a201   577,122 1,400 SH   SOLE   1,400 0 0
Dow Inc. COM 260557103   3,071,917 56,016 SH   SOLE   56,016 0 0
DuPont de Nemours, Inc COM 26614n102   3,872,887 50,343 SH   SOLE   50,343 0 0
Elevance Health Inc. COM 036752103   21,731,371 46,084 SH   SOLE   46,084 0 0
Eli Lilly & Co COM 532457108   414,456 711 SH   SOLE   711 0 0
Equifax Inc. COM 294429105   247,290 1,000 SH   SOLE   1,000 0 0
Exxon Mobil Corp COM 30231G102   1,271,887 12,721 SH   SOLE   12,721 0 0
Fedex Corp COM 31428X106   3,421,778 13,526 SH   SOLE   13,526 0 0
Ford Motor Co.- New COM 345370860   175,853 14,426 SH   SOLE   14,426 0 0
Forrester Research Inc. COM 346563109   959,342 35,783 SH   SOLE   35,783 0 0
Franklin Resources Inc. COM 354613101   1,789,187 60,060 SH   SOLE   60,060 0 0
Gates Industrial Corporation P COM g39108108   2,253,876 167,949 SH   SOLE   167,949 0 0
General Dynamics COM 369550108   618,534 2,382 SH   SOLE   2,382 0 0
General Electric Co. COM 369604103   313,076 2,453 SH   SOLE   2,453 0 0
General Motors Company COM 37045v100   1,210,899 33,711 SH   SOLE   33,711 0 0
Genuine Parts Co COM 372460105   1,289,158 9,308 SH   SOLE   9,308 0 0
Gilead Sciences Inc. COM 375558103   989,699 12,217 SH   SOLE   12,217 0 0
Grand Canyon Education, Inc. COM 38526m106   1,908,638 14,455 SH   SOLE   14,455 0 0
H&R Block Inc. COM 093671105   2,412,454 49,875 SH   SOLE   49,875 0 0
HP Inc. COM 40434L105   367,459 12,212 SH   SOLE   12,212 0 0
Hershey Company COM 427866108   1,530,672 8,210 SH   SOLE   8,210 0 0
Hewlett Packard Enterprise Co. COM 42824c109   230,232 13,559 SH   SOLE   13,559 0 0
Home Depot Inc. COM 437076102   8,783,051 25,344 SH   SOLE   25,344 0 0
Illinois Tool Works Inc. COM 452308109   293,111 1,119 SH   SOLE   1,119 0 0
Ingersoll Rand Inc. COM 45687v106   468,294 6,055 SH   SOLE   6,055 0 0
Intel Corp. COM 458140100   1,240,471 24,686 SH   SOLE   24,686 0 0
International Flavors & Fragra COM 459506101   320,803 3,962 SH   SOLE   3,962 0 0
Interpublic Group COM 460690100   287,624 8,812 SH   SOLE   8,812 0 0
Johnson & Johnson COM 478160104   11,838,886 75,532 SH   SOLE   75,532 0 0
KLA Corporation COM 482480100   485,385 835 SH   SOLE   835 0 0
Kenvue Inc. COM 49177j102   487,461 22,641 SH   SOLE   22,641 0 0
Keurig Dr. Pepper Inc. COM 49271v100   1,576,003 47,299 SH   SOLE   47,299 0 0
Kroger Co. COM 501044101   17,174,527 375,728 SH   SOLE   375,728 0 0
Laboratory Corp. of America COM 50540r409   221,608 975 SH   SOLE   975 0 0
Lamb Weston Holdings COM 513272104   438,953 4,061 SH   SOLE   4,061 0 0
Lincoln Educational COM 533535100   2,342,573 233,324 SH   SOLE   233,324 0 0
Lloyds TSB Group COM 539439109   27,485 11,500 SH   SOLE   11,500 0 0
Lockheed Martin Corp COM 539830109   678,954 1,498 SH   SOLE   1,498 0 0
Lowes Companies COM 548661107   9,124,550 41,000 SH   SOLE   41,000 0 0
Manitex Intl COM 563420108   1,490,878 170,581 SH   SOLE   170,581 0 0
ManpowerGroup Inc. COM 56418h100   312,476 3,932 SH   SOLE   3,932 0 0
Marsh & McLennan Co. COM 571748102   6,785,489 35,813 SH   SOLE   35,813 0 0
Mastercard Inc. COM 57636q104   16,583,135 38,881 SH   SOLE   38,881 0 0
McDonalds Corp COM 580135101   3,395,336 11,451 SH   SOLE   11,451 0 0
Merck & Co.Inc. New COM 58933y105   13,387,111 122,795 SH   SOLE   122,795 0 0
Meta Platforms, Inc. COM 30303m102   5,178,435 14,630 SH   SOLE   14,630 0 0
Microsoft Corp. COM 594918104   42,824,586 113,883 SH   SOLE   113,883 0 0
Molson Coors Brewing Co COM 60871r209   6,866,625 112,181 SH   SOLE   112,181 0 0
Mondelez International, Inc. COM 609207105   2,603,931 35,951 SH   SOLE   35,951 0 0
Monster Beverage Corp. COM 61174x109   4,124,876 71,600 SH   SOLE   71,600 0 0
Nike Inc Class B COM 654106103   1,532,574 14,116 SH   SOLE   14,116 0 0
Nucor Corp COM 670346105   340,596 1,957 SH   SOLE   1,957 0 0
Occidental Petroleum Corp COM 674599105   221,942 3,717 SH   SOLE   3,717 0 0
Oracle Corp COM 68389X105   1,336,114 12,673 SH   SOLE   12,673 0 0
Organon & Co. COM 68622v106   563,923 39,107 SH   SOLE   39,107 0 0
Paramount Global B COM 92556h206   299,305 20,237 SH   SOLE   20,237 0 0
Parker-Hannifin Corp. COM 701094104   1,042,103 2,262 SH   SOLE   2,262 0 0
Paychex Inc. COM 704326107   4,927,462 41,369 SH   SOLE   41,369 0 0
Pepsico Inc. COM 713448108   13,685,877 80,581 SH   SOLE   80,581 0 0
Perspective Therapeutics COM 46489v104   4,108 10,218 SH   SOLE   10,218 0 0
Pfizer Inc. COM 717081103   2,059,336 71,530 SH   SOLE   71,530 0 0
Philip Morris International COM 718172109   19,778,156 210,227 SH   SOLE   210,227 0 0
Phillips 66 COM 718546104   2,327,287 17,480 SH   SOLE   17,480 0 0
Procter & Gamble Co. COM 742718109   2,978,279 20,324 SH   SOLE   20,324 0 0
Qualcomm Inc COM 747525103   439,964 3,042 SH   SOLE   3,042 0 0
Quest Diagnostics Inc. COM 74834L100   3,902,004 28,300 SH   SOLE   28,300 0 0
RTX Corp. COM 75513e101   3,272,625 38,895 SH   SOLE   38,895 0 0
SM Energy Company COM 78454L100   202,893 5,240 SH   SOLE   5,240 0 0
Sally Beauty Holdings Inc. COM 79546e104   1,200,871 90,427 SH   SOLE   90,427 0 0
Starbucks Corp COM 855244109   1,212,030 12,624 SH   SOLE   12,624 0 0
Stryker Corporation COM 863667101   226,092 755 SH   SOLE   755 0 0
Tapestry Inc. COM 876030107   275,339 7,480 SH   SOLE   7,480 0 0
The Cigna Group COM 125523100   7,630,884 25,483 SH   SOLE   25,483 0 0
The Kraft Heinz Company COM 500754106   405,079 10,954 SH   SOLE   10,954 0 0
The Mosaic Company COM 61945c103   2,212,506 61,923 SH   SOLE   61,923 0 0
The Travelers Companies Inc. COM 89417e109   9,005,224 47,274 SH   SOLE   47,274 0 0
The Walt Disney Co. COM 254687106   1,382,520 15,312 SH   SOLE   15,312 0 0
Tractor Supply Co. COM 892356106   344,048 1,600 SH   SOLE   1,600 0 0
US Bancorp Delaware New COM 902973304   498,110 11,509 SH   SOLE   11,509 0 0
Union Pacific Corp COM 907818108   2,317,425 9,435 SH   SOLE   9,435 0 0
United Parcel Service Inc. COM 911312106   2,443,089 15,538 SH   SOLE   15,538 0 0
UnitedHealth Group Inc. COM 91324p102   35,495,763 67,422 SH   SOLE   67,422 0 0
Unum Group COM 91529y106   2,681,410 59,297 SH   SOLE   59,297 0 0
Valero Energy Corp. COM 91913y100   7,824,425 60,188 SH   SOLE   60,188 0 0
Value Line Inc. COM 920437100   206,651 4,239 SH   SOLE   4,239 0 0
Verizon Communications COM 92343V104   1,248,812 33,125 SH   SOLE   33,125 0 0
Visa, Inc. COM 92826c839   10,983,385 42,187 SH   SOLE   42,187 0 0
WW International, Inc. COM 98262p101   98,289 11,233 SH   SOLE   11,233 0 0
Wal Mart Stores COM 931142103   7,797,527 49,461 SH   SOLE   49,461 0 0
Warner Bros. Discovery, Inc. COM 934423104   2,182,559 191,789 SH   SOLE   191,789 0 0
Washington Federal COM 938824109   1,316,554 39,944 SH   SOLE   39,944 0 0
Waste Management Inc. Del COM 94106L109   287,814 1,607 SH   SOLE   1,607 0 0
Wells Fargo & Co. COM 949746101   1,708,032 34,702 SH   SOLE   34,702 0 0
Western Union Company COM 959802109   291,611 24,464 SH   SOLE   24,464 0 0
Weyerhaeuser Co. COM 962166104   387,894 11,156 SH   SOLE   11,156 0 0
Yum! Brands, Inc. COM 988498101   1,488,871 11,395 SH   SOLE   11,395 0 0
Zimmer Biomet Holdings COM 98956p102   7,471,771 61,395 SH   SOLE   61,395 0 0
AON Plc FOR g0403h108   797,977 2,742 SH   SOLE   2,742 0 0
ASML Holding N.V. FOR n07059178   209,667 277 SH   SOLE   277 0 0
Alibaba Group Holding Limited FOR 01609w102   788,199 10,169 SH   SOLE   10,169 0 0
Alkermes PLC FOR g01767105   365,918 13,191 SH   SOLE   13,191 0 0
Allegion PLC FOR g0176j109   456,717 3,605 SH   SOLE   3,605 0 0
America Movil ADR FOR 02390a101   1,542,549 83,291 SH   SOLE   83,291 0 0
Arch Capital Group Ltd FOR g0450a105   304,507 4,100 SH   SOLE   4,100 0 0
Arcos Dorados Hldgs. FOR g0457f107   3,900,348 307,356 SH   SOLE   307,356 0 0
BP p.l.c. FOR 055622104   6,867,742 194,004 SH   SOLE   194,004 0 0
British American Tobacco FOR 110448107   4,662,001 159,167 SH   SOLE   159,167 0 0
CAE Inc. FOR 124765108   797,427 36,935 SH   SOLE   36,935 0 0
Colliers International Group FOR 194693107   969,143 7,660 SH   SOLE   7,660 0 0
Diageo PLC ADR FOR 25243q205   1,934,947 13,284 SH   SOLE   13,284 0 0
Ferguson PLC FOR g3421j106   386,140 2,000 SH   SOLE   2,000 0 0
FirstService Corp Voting Share FOR 33767e202   1,114,045 6,873 SH   SOLE   6,873 0 0
Glaxo SmithKline ADS FOR 37733W204   1,244,920 33,592 SH   SOLE   33,592 0 0
Haleon PLC FOR 405552100   356,400 43,305 SH   SOLE   43,305 0 0
Johnson Controls Intl. PLC FOR g51502105   374,602 6,499 SH   SOLE   6,499 0 0
LyondellBasell Industries N.V. FOR n53745100   6,338,603 66,666 SH   SOLE   66,666 0 0
Medtronic PLC FOR g5960L103   12,108,789 146,987 SH   SOLE   146,987 0 0
Nokia Corp Sponsored ADR FOR 654902204   44,279 12,947 SH   SOLE   12,947 0 0
Shell PLC FOR 780259305   1,155,843 17,566 SH   SOLE   17,566 0 0
Taiwan Semiconductor Manufactu FOR 874039100   570,648 5,487 SH   SOLE   5,487 0 0
Telefonica S.A. ADR FOR 879382208   717,741 184,036 SH   SOLE   184,036 0 0
Textainer Group Holdings Limit FOR g8766e109   3,559,030 72,338 SH   SOLE   72,338 0 0
Toyota Motor Corp ADR FOR 892331307   270,302 1,474 SH   SOLE   1,474 0 0
Trane Technologies PLC FOR g8994e103   1,629,984 6,683 SH   SOLE   6,683 0 0
Unilever PCL ADR FOR 904767704   5,090,545 105,003 SH   SOLE   105,003 0 0
Yum China Holdings, Inc. FOR 98850p109   435,671 10,268 SH   SOLE   10,268 0 0