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
AT&T Pfd PFD 00206R409 305 12,000 SH   SOLE   12,000 0 0
Bank of America Pfd PFD 06055H400 216 10,000 SH   SOLE   10,000 0 0
US Bancorp Pfd PFD 902973718 248 12,000 SH   SOLE   12,000 0 0
3M Company COM 88579y101 895 6,011 SH   SOLE   6,011 0 0
AbbVie Inc. COM 00287y109 15,279 94,255 SH   SOLE   94,255 0 0
Adobe Systems COM 00724F101 10,930 23,991 SH   SOLE   23,991 0 0
Allstate COM 020002101 15,277 110,295 SH   SOLE   110,295 0 0
Alphabet Inc. Class A COM 02079k305 25,204 9,062 SH   SOLE   9,062 0 0
Amazon.Com Inc. COM 023135106 23,129 7,095 SH   SOLE   7,095 0 0
Apple Inc. COM 037833100 26,502 151,779 SH   SOLE   151,779 0 0
Applied Materials Inc. COM 038222105 11,139 84,518 SH   SOLE   84,518 0 0
Bank Of America Corp COM 060505104 14,703 356,699 SH   SOLE   356,699 0 0
Booking Holdings Inc. COM 09857L108 13,362 5,690 SH   SOLE   5,690 0 0
Bristol Myers Squibb COM 110122108 12,485 170,967 SH   SOLE   170,967 0 0
Broadcom Inc COM 11135F101 16,591 26,349 SH   SOLE   26,349 0 0
CVS Health Corp COM 126650100 13,446 132,857 SH   SOLE   132,857 0 0
Capital One Financial COM 14040h105 11,933 90,893 SH   SOLE   90,893 0 0
Caterpillar Inc Del COM 149123101 16,067 72,111 SH   SOLE   72,111 0 0
Chevron Corp COM 166764100 13,864 85,146 SH   SOLE   85,146 0 0
Chubb Limited COM h1467j104 13,360 62,461 SH   SOLE   62,461 0 0
Cisco Systems COM 17275R102 14,267 255,871 SH   SOLE   255,871 0 0
Comcast Corp Class A COM 20030N101 12,346 263,697 SH   SOLE   263,697 0 0
Constellation Brands Inc-A COM 21036p108 6,817 29,600 SH   SOLE   29,600 0 0
Eaton Corp. COM G29183103 15,282 100,700 SH   SOLE   100,700 0 0
Eli Lilly & Co COM 532457108 422 1,475 SH   SOLE   1,475 0 0
Evercore Inc. COM 29977a105 10,393 93,370 SH   SOLE   93,370 0 0
Fiserv Inc. COM 337738108 12,311 121,417 SH   SOLE   121,417 0 0
Ford Motor Co. COM 345370860 11,498 679,990 SH   SOLE   679,990 0 0
Gilead Sciences Inc. COM 375558103 6,514 109,579 SH   SOLE   109,579 0 0
Healthpeak Properties Inc. COM 42250P103 16,190 471,615 SH   SOLE   471,615 0 0
Home Depot Inc. COM 437076102 14,863 49,657 SH   SOLE   49,657 0 0
Honeywell Inc. COM 438516106 13,462 69,185 SH   SOLE   69,185 0 0
Humana Inc. COM 444859102 352 811 SH   SOLE   811 0 0
Intel Corp. COM 458140100 10,129 204,390 SH   SOLE   204,390 0 0
J. P. Morgan COM 46625H100 13,483 98,913 SH   SOLE   98,913 0 0
Jabil Circuit, Inc. COM 466313103 13,275 215,055 SH   SOLE   215,055 0 0
Johnson & Johnson COM 478160104 11,378 64,202 SH   SOLE   64,202 0 0
Lam Research COM 512807108 14,494 26,960 SH   SOLE   26,960 0 0
Lowe's Companies Inc. COM 548661107 484 2,398 SH   SOLE   2,398 0 0
MDU Resources Group COM 552690109 10,223 383,621 SH   SOLE   383,621 0 0
Marathon Pete Corp COM 56585a102 9,414 110,108 SH   SOLE   110,108 0 0
Medtronic PLC COM G5960L103 374 3,371 SH   SOLE   3,371 0 0
Merck & Co. COM 58933y105 12,076 147,182 SH   SOLE   147,182 0 0
Meta Platforms Inc. COM 30303m102 13,540 60,894 SH   SOLE   60,894 0 0
Microsoft Corp. COM 594918104 22,506 73,000 SH   SOLE   73,000 0 0
Nucor Corp. COM 670346105 10,768 72,441 SH   SOLE   72,441 0 0
O'Reilly Automotive Inc. COM 67103H107 1,250 1,825 SH   SOLE   1,825 0 0
PNC Financial Services Group COM 693475105 12,530 67,933 SH   SOLE   67,933 0 0
Pepsico Inc. COM 713448108 11,312 67,584 SH   SOLE   67,584 0 0
Phillips 66 COM 718546104 9,986 115,598 SH   SOLE   115,598 0 0
Procter & Gamble COM 742718109 10,292 67,357 SH   SOLE   67,357 0 0
Qualcomm Inc. COM 747525103 9,046 59,197 SH   SOLE   59,197 0 0
Regions Financial Corp. COM 7591EP100 10,027 450,476 SH   SOLE   450,476 0 0
Seagate Technology Holdings COM G7997r103 11,853 131,850 SH   SOLE   131,850 0 0
Sherwin-Williams Co. COM 824348106 9,762 39,110 SH   SOLE   39,110 0 0
Southern Company COM 842587107 4,547 62,719 SH   SOLE   62,719 0 0
Standard & Poors Depository Re COM 78462F103 210 467 SH   SOLE   467 0 0
TJX Cos. Inc. COM 872540109 13,155 217,162 SH   SOLE   217,162 0 0
Thermo Fisher Scientific COM 883556102 14,948 25,309 SH   SOLE   25,309 0 0
Tyson Foods, Inc. COM 902494103 11,760 131,208 SH   SOLE   131,208 0 0
United Parcel Service COM 911312106 14,196 66,194 SH   SOLE   66,194 0 0
UnitedHealth Group Inc. COM 91324P102 15,543 30,478 SH   SOLE   30,478 0 0
Visa Inc. COM 92826c839 15,516 69,968 SH   SOLE   69,968 0 0
Wal Mart Stores COM 931142103 11,569 77,688 SH   SOLE   77,688 0 0
Walt Disney Co. COM 254687106 13,270 96,749 SH   SOLE   96,749 0 0
Zebra Technologies Corp COM 989207105 904 2,187 SH   SOLE   2,187 0 0