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
MASTERCARD INC COM 57636Q104 5,889 24,381 SH   SOLE   5,889 0 0
STARBUCKS CORP COM 855244109 5,757 87,574 SH   SOLE   5,757 0 0
LINDE PLC COM COM G5494J103 5,465 31,593 SH   SOLE   5,465 0 0
GRAINGER WW INC COM 384802104 5,285 21,269 SH   SOLE   5,285 0 0
AIR PRODUCTS & CHEMICALS COM 009158106 4,752 23,807 SH   SOLE   4,752 0 0
HERSHEY FOODS CORP COM 427866108 4,467 33,714 SH   SOLE   4,467 0 0
AUTO DATA PROCESSING COM 053015103 4,048 29,617 SH   SOLE   4,048 0 0
MICROSOFT CORP COM 594918104 3,986 25,279 SH   SOLE   3,986 0 0
PEPSICO INCORPORATED COM 713448108 3,834 31,927 SH   SOLE   3,834 0 0
JOHNSON & JOHNSON COM 478160104 3,676 28,035 SH   SOLE   3,676 0 0
AGILENT TECHNOLOGIES COM 00846U101 3,398 47,451 SH   SOLE   3,398 0 0
CHEVRONTEXACO CORP COM 166764100 3,375 46,582 SH   SOLE   3,375 0 0
TRACTOR SUPPLY COMPANY COM 892356106 3,369 39,857 SH   SOLE   3,369 0 0
TEXAS INSTRUMENTS INC COM 882508104 3,307 33,101 SH   SOLE   3,307 0 0
EXXON MOBIL CORP COM 30231G102 3,281 86,429 SH   SOLE   3,281 0 0
MC CORMICK & CO NEW VT COM 579780206 2,981 21,115 SH   SOLE   2,981 0 0
BROWN FORMAN CORP CL B COM 115637209 2,960 53,324 SH   SOLE   2,960 0 0
KIMBERLY-CLARK CORP COM 494368103 2,846 22,259 SH   SOLE   2,846 0 0
ABBOTT LABORATORIES COM 002824100 2,805 35,557 SH   SOLE   2,805 0 0
APPLE, INC COM 037833100 2,640 10,384 SH   SOLE   2,640 0 0
FIDELITY NATL INFO SVCS COM 31620M106 2,632 21,638 SH   SOLE   2,632 0 0
DISNEY WALT HOLDING CO COM 254687106 2,591 26,824 SH   SOLE   2,591 0 0
UNION PACIFIC CORP COM 907818108 2,560 18,151 SH   SOLE   2,560 0 0
INTL FLAVOR & FRAGRANCES COM 459506101 2,508 24,576 SH   SOLE   2,508 0 0
BROADRIDGE FINANCIAL COM 11133T103 2,414 25,463 SH   SOLE   2,414 0 0
ABBVIE INC COM COM 00287Y109 2,327 30,551 SH   SOLE   2,327 0 0
LAUDER ESTEE CORP CL A COM 518439104 2,226 13,972 SH   SOLE   2,226 0 0
EMERSON ELECTRIC COM 291011104 2,224 46,683 SH   SOLE   2,224 0 0
SYSCO CORP. COM 871829107 2,185 47,894 SH   SOLE   2,185 0 0
GORMAN-RUPP CO COM COM 383082104 2,147 68,822 SH   SOLE   2,147 0 0
KEYSIGHT TECHNOLOGIES INC COM COM 49338L103 2,144 25,625 SH   SOLE   2,144 0 0
SONOCO PRODUCTS INC COM 835495102 2,056 44,367 SH   SOLE   2,056 0 0
CHESAPEAKE UTIL CORP COM 165303108 1,942 22,664 SH   SOLE   1,942 0 0
TRANE TECHNOLOGIES PLC COM G8994E103 1,916 23,205 SH   SOLE   1,916 0 0
STERIS PLC COM 859152100 1,847 13,200 SH   SOLE   1,847 0 0
DEERE & CO COM 244199105 1,816 13,150 SH   SOLE   1,816 0 0
COSTCO WHOLSALE CORP NEW COM 22160K105 1,720 6,033 SH   SOLE   1,720 0 0
HOME DEPOT INC COM 437076102 1,706 9,141 SH   SOLE   1,706 0 0
EATON CORPORATION COM 278058102 1,556 20,032 SH   SOLE   1,556 0 0
GENERAL MILLS INC COM 370334104 1,535 29,107 SH   SOLE   1,535 0 0
CASEYS GENERAL STORES INC COM 147528103 1,533 11,575 SH   SOLE   1,533 0 0
DOW CHEMICAL COM 260557103 1,517 51,884 SH   SOLE   1,517 0 0
COCA-COLA COMPANY COM 191216100 1,497 33,836 SH   SOLE   1,497 0 0
WESTROCK CO COM COM 96145D105 1,457 51,576 SH   SOLE   1,457 0 0
MINE SAFTEY APPLIANCE CO COM 553498106 1,457 14,400 SH   SOLE   1,457 0 0
NORFOLK SOUTHERN CORP COM 655844108 1,440 9,865 SH   SOLE   1,440 0 0
HONEYWELL INC. COM 438516106 1,384 10,347 SH   SOLE   1,384 0 0
NEWMONT GOLDCORP COM 651639106 1,354 29,907 SH   SOLE   1,354 0 0
3M COMPANY COM 88579Y101 1,267 9,285 SH   SOLE   1,267 0 0
CINTAS CORP COM 172908105 1,225 7,076 SH   SOLE   1,225 0 0
BUNGE COM G16962105 1,194 29,112 SH   SOLE   1,194 0 0
ATMOS ENERGY CORP COM 049560105 1,193 12,026 SH   SOLE   1,193 0 0
ANALOG DEVICES INC COM 032654105 1,161 12,959 SH   SOLE   1,161 0 0
ALBANY INT'L CORP. COM 012348108 1,109 23,450 SH   SOLE   1,109 0 0
MIDDLEBY CORP THE COM 596278101 1,083 19,050 SH   SOLE   1,083 0 0
APPLIED INDL. TECH. COM 03820C105 1,051 23,000 SH   SOLE   1,051 0 0
NORTHERN TRUST CORP COM 665859104 1,019 13,508 SH   SOLE   1,019 0 0
AMERICAN EXPRESS CO. COM 025816109 1,014 11,850 SH   SOLE   1,014 0 0
DARDEN RESTURANTS INC COM 237194105 1,014 18,625 SH   SOLE   1,014 0 0
LOWES COMPANIES INC COM 548661107 998 11,600 SH   SOLE   998 0 0
OLIN CORP NEW COM 680665205 996 85,375 SH   SOLE   996 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 990 17,765 SH   SOLE   990 0 0
VERIZON COMM COM 92343V104 989 18,410 SH   SOLE   989 0 0
PARKER-HANNIFIN CORP COM 701094104 976 7,525 SH   SOLE   976 0 0
CATERPILLAR INC COM 149123101 969 8,353 SH   SOLE   969 0 0
CELANESE CORP. COM 150870103 968 13,200 SH   SOLE   968 0 0
APPLIED MATERIALS INC COM 038222105 959 20,950 SH   SOLE   959 0 0
FRANKLIN ELEC CO INC COM 353514102 933 19,800 SH   SOLE   933 0 0
SPIRE COM 84857L101 908 12,200 SH   SOLE   908 0 0
DOMINION RESOURCES INC. COM 25746U109 894 12,395 SH   SOLE   894 0 0
KIRBY CORP COM 497266106 890 20,489 SH   SOLE   890 0 0
STRYKER CORP COM 863667101 857 5,150 SH   SOLE   857 0 0
NEENAH PAPER INC COM 640079109 855 19,843 SH   SOLE   855 0 0
VALERO ENERGY COM 91913Y100 841 18,550 SH   SOLE   841 0 0
CHUBB CORPORATION COM 171232101 831 7,441 SH   SOLE   831 0 0
ENBRIDGE INC. COM 29250N105 811 27,883 SH   SOLE   811 0 0
AVNET INC COM 053807103 798 31,825 SH   SOLE   798 0 0
DOVER CORPORATION COM 260003108 765 9,125 SH   SOLE   765 0 0
TIMKEN COMPANY COM 887389104 763 23,600 SH   SOLE   763 0 0
MERCK & CO INC COM 58933Y105 755 9,825 SH   SOLE   755 0 0
ALLEGION PUBLIC LTD. CO. COM G0176J109 730 7,939 SH   SOLE   730 0 0
MURPHY USA INC. COM 626755102 724 8,593 SH   SOLE   724 0 0
PHILLIPS 66 COM COM 718546104 720 13,433 SH   SOLE   720 0 0
UNITED TECHNOLOGIES CORP COM 913017109 712 7,557 SH   SOLE   712 0 0
ADVANSIX INC COM COM 00773T101 692 72,576 SH   SOLE   692 0 0
STANLEY BLACK & DECKER INC. COM 854502101 689 6,890 SH   SOLE   689 0 0
INTEL COM 458140100 678 12,538 SH   SOLE   678 0 0
DUKE ENERGY CORPORATION COM 26441C105 669 8,281 SH   SOLE   669 0 0
METLIFE INC COM 59156R108 663 21,700 SH   SOLE   663 0 0
DU PONT E I DE NEMOUR&CO COM 263534109 659 19,338 SH   SOLE   659 0 0
KANSAS CITY SOUTHERN NEW COM 485170302 640 5,033 SH   SOLE   640 0 0
CORTEVA INC COM COM 22052L104 617 26,279 SH   SOLE   617 0 0
MARKEL CORP. COM 570535104 612 660 SH   SOLE   612 0 0
CSX CORP COM 126408103 567 9,900 SH   SOLE   567 0 0
AMERICAN STATES WATER CO COM 029899101 564 6,900 SH   SOLE   564 0 0
CALAVO GROWERS INC COM 128246105 548 9,500 SH   SOLE   548 0 0
SCHLUMBERGER LTD F COM 806857108 537 39,852 SH   SOLE   537 0 0
INGERSOLL-RAND COMPANY COM G47791101 512 20,679 SH   SOLE   512 0 0
CORNING INC. COM 219350105 509 24,825 SH   SOLE   509 0 0
INGEVITY CORP COM COM 45688C107 508 14,449 SH   SOLE   508 0 0
SHERWIN WILLIAMS CO COM 824348106 505 1,100 SH   SOLE   505 0 0
CONOCOPHILLIPS COM 20825C104 499 16,217 SH   SOLE   499 0 0
MARATHON PETE CORP COM COM 56585A102 492 20,833 SH   SOLE   492 0 0
INTERCONTINENTAL EXCHANGE COM 45866F104 484 6,000 SH   SOLE   484 0 0
GOODYEAR TIRE & RUBBER COM 382550101 467 80,367 SH   SOLE   467 0 0
INTL BUSINESS MACHINES COM 459200101 464 4,186 SH   SOLE   464 0 0
O-I GLASS, INC. COM 690768403 463 65,200 SH   SOLE   463 0 0
BRIGHTHOUSE FINL INC COM COM 10922N103 450 18,650 SH   SOLE   450 0 0
BANK OF NEW YORK CO INC COM 064058100 449 13,350 SH   SOLE   449 0 0
ONE GAS INC COM COM 68235P108 431 5,158 SH   SOLE   431 0 0
PFIZER INC COM 717081103 428 13,138 SH   SOLE   428 0 0
ONEOK, INC COM 682680103 424 19,450 SH   SOLE   424 0 0
ARTESIAN RES CORP CLA COM 043113208 422 11,313 SH   SOLE   422 0 0
CAMPBELL SOUP COMPANY COM 134429109 415 9,000 SH   SOLE   415 0 0
AMGEN INC COM 031162100 384 1,895 SH   SOLE   384 0 0
MURPHY OIL CORP COM 626717102 369 60,220 SH   SOLE   369 0 0
GENUINE PARTS CO COM COM 372460105 367 5,460 SH   SOLE   367 0 0
AMERITRADE HLDNG CORP CL A COM 87236Y108 365 10,550 SH   SOLE   365 0 0
AEROJET ROCKETDYNE HLDGS INC C OM COM 007800105 363 8,700 SH   SOLE   363 0 0
ASTRAZENECA PLC ADR COM 046353108 350 7,846 SH   SOLE   350 0 0
NEXTERA ENERGY INC COM 65339F101 344 1,430 SH   SOLE   344 0 0
CDK GLOBAL HOLDINGS LLC COM COM 12508E101 341 10,401 SH   SOLE   341 0 0
PACCAR INC COM 693718108 336 5,500 SH   SOLE   336 0 0
GLOBAL PAYMENTS INC. COM 37940X102 331 2,300 SH   SOLE   331 0 0
XEROX CORP COM 984121103 330 17,433 SH   SOLE   330 0 0
BP PLC COM 055622104 329 13,492 SH   SOLE   329 0 0
AMER ELECTRIC PWR CO INC COM 025537101 326 4,080 SH   SOLE   326 0 0
NETAPP INC. COM 64110D104 325 7,800 SH   SOLE   325 0 0
ANGLOGOLD LTD COM 035128206 321 19,350 SH   SOLE   321 0 0
NUVEEN QUALITY MUNICIPAL COM 67066V101 308 22,435 SH   SOLE   308 0 0
LILLY ELI & COMPANY COM 532457108 305 2,203 SH   SOLE   305 0 0
BARRICK GOLD COM 067901108 304 16,600 SH   SOLE   304 0 0
KNOWLES CORP COM COM 49926D109 300 22,462 SH   SOLE   300 0 0
GAP INC COM 364760108 293 41,667 SH   SOLE   293 0 0
HESS CORPORATION COM 42809H107 289 8,700 SH   SOLE   289 0 0
AVERY DENNISON CORP COM 053611109 280 2,750 SH   SOLE   280 0 0
NUTRIEN LTD CO COM COM 67077M108 273 8,060 SH   SOLE   273 0 0
BECTON DICKINSON & CO COM 075887109 261 1,140 SH   SOLE   261 0 0
ALLEGHENY TECH INC COM 01741R102 255 30,000 SH   SOLE   255 0 0
OLD REPUBLIC INTL CORP COM 680223104 254 16,700 SH   SOLE   254 0 0
ALAMOS GOLD INC. COM 011532108 250 50,000 SH   SOLE   250 0 0
PENSKE AUTOMOTIVE GROUP COM 70959W103 246 8,800 SH   SOLE   246 0 0
COMMERCIAL METALS CO COM 201723103 246 15,600 SH   SOLE   246 0 0
HELMERICH & PAYNE INC COM 423452101 239 15,300 SH   SOLE   239 0 0
ZOETIS INC. COM 98978V103 235 2,000 SH   SOLE   235 0 0
WELLS FARGO & CO NEW COM 949746101 230 8,042 SH   SOLE   230 0 0
INTERNATIONAL PAPER CO COM 460146103 228 7,338 SH   SOLE   228 0 0
AGNICO-EAGLE MINES LTD COM 008474108 226 5,700 SH   SOLE   226 0 0
TRANSDIGM GROUP INC. COM 893641100 219 685 SH   SOLE   219 0 0
PERRIGO CO COM G97822103 209 4,350 SH   SOLE   209 0 0
MARATHON OIL CO. COM 565849106 206 62,775 SH   SOLE   206 0 0
DENNYS CORP COM 24869P104 180 23,500 SH   SOLE   180 0 0
HUNTINGTON BANCSHARES INC COM 446150104 179 21,918 SH   SOLE   179 0 0
VALVOLINE INC. COM 92047W101 168 12,900 SH   SOLE   168 0 0
KEYCORP COM 493267108 166 16,016 SH   SOLE   166 0 0
KINROSS GOLD CORP NEW COM 496902404 157 39,600 SH   SOLE   157 0 0
MUELLER WATER PRODUCTS COM 624758108 156 19,500 SH   SOLE   156 0 0
MACYS INC. COM 55616P104 154 31,550 SH   SOLE   154 0 0
FERRO CORP COM 315405100 149 15,926 SH   SOLE   149 0 0
OCCIDENTAL PETE CORP COM 674599105 134 11,579 SH   SOLE   134 0 0
REGIONS FINANCIAL CP NEW COM 7591EP100 129 14,401 SH   SOLE   129 0 0
FORD MOTOR COMPANY COM 345370860 126 26,150 SH   SOLE   126 0 0
CHEMOURS COMPANY COM 163851108 99 11,238 SH   SOLE   99 0 0
FARMER BROS. CO. COM 307675108 95 13,700 SH   SOLE   95 0 0
NO EUROPEAN OIL TR COM 659310106 90 34,300 SH   SOLE   90 0 0
NOBLE ENERGY INC. COM 655044105 77 12,800 SH   SOLE   77 0 0
TRANSOCEAN SEDCO FOREX COM H8817H100 74 64,435 SH   SOLE   74 0 0
HALLIBURTON COMPANY COM 406216101 74 10,845 SH   SOLE   74 0 0
INTEVAC INC COM 461148108 71 17,600 SH   SOLE   71 0 0
FLUOR CORPORATION COM 343412102 71 10,400 SH   SOLE   71 0 0
PERMIAN BASIN ROYALTY TR COM 714236106 68 23,900 SH   SOLE   68 0 0
TIMKENSTEEL CORP COM COM 887399103 54 16,850 SH   SOLE   54 0 0
ORION MARINE GROUP COM 68628V308 39 15,000 SH   SOLE   39 0 0
IAMGOLD CORPORATION COM 450913108 38 17,000 SH   SOLE   38 0 0
SOLITARIO EXPLORATION COM 8342EP107 38 193,000 SH   SOLE   38 0 0
PDL BIOPHARMA INC COM 69329Y104 36 13,000 SH   SOLE   36 0 0
YAMANA GOLD INC COM 98462Y100 31 11,500 SH   SOLE   31 0 0
VALARIS PLC COM G9402V109 26 57,914 SH   SOLE   26 0 0
AEGON N V ORD AMER REG COM 007924103 24 10,000 SH   SOLE   24 0 0
HECLA MINING COM 422704106 22 12,500 SH   SOLE   22 0 0
KOSMOS ENERGY LTD COM 500688106 19 22,000 SH   SOLE   19 0 0
STEIN MART INC COM 858375108 4 10,800 SH   SOLE   4 0 0
NABORS INDUSTRIES INC COM G6359F103 4 10,600 SH   SOLE   4 0 0
GREAT PANTHER SILVER COM 39115V101 3 12,000 SH   SOLE   3 0 0
DENBURY RESOURCES COM 247916208 1 10,100 SH   SOLE   1 0 0