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 8,075 23,881 SH   SOLE   8,075 0 0
LINDE PLC COM COM G5494J103 7,491 31,458 SH   SOLE   7,491 0 0
GRAINGER WW INC COM 384802104 7,457 20,902 SH   SOLE   7,457 0 0
STARBUCKS CORP COM 855244109 7,424 86,409 SH   SOLE   7,424 0 0
AIR PRODUCTS & CHEMICALS COM 009158106 6,925 23,250 SH   SOLE   6,925 0 0
TRACTOR SUPPLY COMPANY COM 892356106 5,640 39,352 SH   SOLE   5,640 0 0
MICROSOFT CORP COM 594918104 5,027 23,904 SH   SOLE   5,027 0 0
HERSHEY FOODS CORP COM 427866108 4,725 32,964 SH   SOLE   4,725 0 0
AGILENT TECHNOLOGIES COM 00846U101 4,703 46,601 SH   SOLE   4,703 0 0
TEXAS INSTRUMENTS INC COM 882508104 4,587 32,131 SH   SOLE   4,587 0 0
APPLE, INC COM 037833100 4,374 37,776 SH   SOLE   4,374 0 0
PEPSICO INCORPORATED COM 713448108 4,269 30,802 SH   SOLE   4,269 0 0
MC CORMICK & CO NEW VT COM 579780206 4,117 21,215 SH   SOLE   4,117 0 0
AUTO DATA PROCESSING COM 053015103 4,068 29,167 SH   SOLE   4,068 0 0
JOHNSON & JOHNSON COM 478160104 4,040 27,136 SH   SOLE   4,040 0 0
BROWN FORMAN CORP CL B COM 115637209 3,890 51,653 SH   SOLE   3,890 0 0
ABBOTT LABORATORIES COM 002824100 3,831 35,207 SH   SOLE   3,831 0 0
UNION PACIFIC CORP COM 907818108 3,436 17,456 SH   SOLE   3,436 0 0
CHEVRONTEXACO CORP COM 166764100 3,306 45,917 SH   SOLE   3,306 0 0
KIMBERLY-CLARK CORP COM 494368103 3,240 21,949 SH   SOLE   3,240 0 0
DISNEY WALT HOLDING CO COM 254687106 3,233 26,059 SH   SOLE   3,233 0 0
FIDELITY NATL INFO SVCS COM 31620M106 3,143 21,356 SH   SOLE   3,143 0 0
LAUDER ESTEE CORP CL A COM 518439104 3,064 14,042 SH   SOLE   3,064 0 0
BROADRIDGE FINANCIAL COM 11133T103 3,054 23,137 SH   SOLE   3,054 0 0
EMERSON ELECTRIC COM 291011104 2,996 45,703 SH   SOLE   2,996 0 0
EXXON MOBIL CORP COM 30231G102 2,958 86,191 SH   SOLE   2,958 0 0
INTL FLAVOR & FRAGRANCES COM 459506101 2,941 24,026 SH   SOLE   2,941 0 0
SYSCO CORP. COM 871829107 2,930 47,094 SH   SOLE   2,930 0 0
DEERE & CO COM 244199105 2,914 13,150 SH   SOLE   2,914 0 0
TRANE TECHNOLOGIES PLC COM G8994E103 2,783 22,955 SH   SOLE   2,783 0 0
ABBVIE INC COM COM 00287Y109 2,652 30,287 SH   SOLE   2,652 0 0
KEYSIGHT TECHNOLOGIES INC COM COM 49338L103 2,501 25,325 SH   SOLE   2,501 0 0
HOME DEPOT INC COM 437076102 2,496 8,991 SH   SOLE   2,496 0 0
DOW CHEMICAL COM 260557103 2,410 51,242 SH   SOLE   2,410 0 0
STERIS PLC COM 859152100 2,308 13,100 SH   SOLE   2,308 0 0
CINTAS CORP COM 172908105 2,288 6,876 SH   SOLE   2,288 0 0
SONOCO PRODUCTS INC COM 835495102 2,247 44,000 SH   SOLE   2,247 0 0
COSTCO WHOLSALE CORP NEW COM 22160K105 2,117 5,966 SH   SOLE   2,117 0 0
NORFOLK SOUTHERN CORP COM 655844108 2,026 9,468 SH   SOLE   2,026 0 0
GORMAN-RUPP CO COM COM 383082104 2,021 68,620 SH   SOLE   2,021 0 0
CASEYS GENERAL STORES INC COM 147528103 2,020 11,374 SH   SOLE   2,020 0 0
EATON CORPORATION COM 278058102 2,015 19,753 SH   SOLE   2,015 0 0
MINE SAFTEY APPLIANCE CO COM 553498106 1,918 14,300 SH   SOLE   1,918 0 0
CHESAPEAKE UTIL CORP COM 165303108 1,889 22,414 SH   SOLE   1,889 0 0
NEWMONT GOLDCORP COM 651639106 1,884 29,699 SH   SOLE   1,884 0 0
DARDEN RESTURANTS INC COM 237194105 1,866 18,525 SH   SOLE   1,866 0 0
LOWES COMPANIES INC COM 548661107 1,853 11,175 SH   SOLE   1,853 0 0
WESTROCK CO COM COM 96145D105 1,779 51,230 SH   SOLE   1,779 0 0
GENERAL MILLS INC COM 370334104 1,739 28,207 SH   SOLE   1,739 0 0
COCA-COLA COMPANY COM 191216100 1,716 34,777 SH   SOLE   1,716 0 0
MIDDLEBY CORP THE COM 596278101 1,708 19,050 SH   SOLE   1,708 0 0
HONEYWELL INC. COM 438516106 1,703 10,347 SH   SOLE   1,703 0 0
ANALOG DEVICES INC COM 032654105 1,597 13,687 SH   SOLE   1,597 0 0
PARKER-HANNIFIN CORP COM 701094104 1,502 7,425 SH   SOLE   1,502 0 0
CELANESE CORP. COM 150870103 1,375 12,800 SH   SOLE   1,375 0 0
BUNGE COM G16962105 1,350 29,562 SH   SOLE   1,350 0 0
3M COMPANY COM 88579Y101 1,333 8,325 SH   SOLE   1,333 0 0
APPLIED MATERIALS INC COM 038222105 1,300 21,875 SH   SOLE   1,300 0 0
TIMKEN COMPANY COM 887389104 1,279 23,600 SH   SOLE   1,279 0 0
APPLIED INDL. TECH. COM 03820C105 1,245 22,600 SH   SOLE   1,245 0 0
CATERPILLAR INC COM 149123101 1,230 8,253 SH   SOLE   1,230 0 0
AMERICAN EXPRESS CO. COM 025816109 1,223 12,200 SH   SOLE   1,223 0 0
FRANKLIN ELEC CO INC COM 353514102 1,141 19,400 SH   SOLE   1,141 0 0
ATMOS ENERGY CORP COM 049560105 1,140 11,926 SH   SOLE   1,140 0 0
ALBANY INT'L CORP. COM 012348108 1,131 22,850 SH   SOLE   1,131 0 0
STANLEY BLACK & DECKER INC. COM 854502101 1,117 6,890 SH   SOLE   1,117 0 0
DU PONT E I DE NEMOUR&CO COM 263534109 1,112 20,048 SH   SOLE   1,112 0 0
VERIZON COMM COM 92343V104 1,095 18,410 SH   SOLE   1,095 0 0
MURPHY USA INC. COM 626755102 1,082 8,443 SH   SOLE   1,082 0 0
STRYKER CORP COM 863667101 1,073 5,150 SH   SOLE   1,073 0 0
OLIN CORP NEW COM 680665205 1,047 84,575 SH   SOLE   1,047 0 0
PFIZER INC COM 717081103 1,036 28,238 SH   SOLE   1,036 0 0
NORTHERN TRUST CORP COM 665859104 1,033 13,250 SH   SOLE   1,033 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 1,028 17,065 SH   SOLE   1,028 0 0
DOVER CORPORATION COM 260003108 987 9,113 SH   SOLE   987 0 0
DOMINION RESOURCES INC. COM 25746U109 951 12,049 SH   SOLE   951 0 0
ADVANSIX INC COM COM 00773T101 931 72,326 SH   SOLE   931 0 0
KANSAS CITY SOUTHERN NEW COM 485170302 910 5,033 SH   SOLE   910 0 0
ENBRIDGE INC. COM 29250N105 883 30,265 SH   SOLE   883 0 0
CHUBB CORPORATION COM 171232101 864 7,444 SH   SOLE   864 0 0
MERCK & CO INC COM 58933Y105 814 9,825 SH   SOLE   814 0 0
AVNET INC COM 053807103 802 31,075 SH   SOLE   802 0 0
METLIFE INC COM 59156R108 786 21,150 SH   SOLE   786 0 0
VALERO ENERGY COM 91913Y100 785 18,138 SH   SOLE   785 0 0
ALLEGION PUBLIC LTD. CO. COM G0176J109 784 7,931 SH   SOLE   784 0 0
CORNING INC. COM 219350105 781 24,100 SH   SOLE   781 0 0
CSX CORP COM 126408103 768 9,900 SH   SOLE   768 0 0
CORTEVA INC COM COM 22052L104 767 26,639 SH   SOLE   767 0 0
SHERWIN WILLIAMS CO COM 824348106 766 1,100 SH   SOLE   766 0 0
KIRBY CORP COM 497266106 741 20,489 SH   SOLE   741 0 0
INGERSOLL-RAND COMPANY COM G47791101 734 20,641 SH   SOLE   734 0 0
NEENAH PAPER INC COM 640079109 728 19,443 SH   SOLE   728 0 0
INGEVITY CORP COM COM 45688C107 722 14,609 SH   SOLE   722 0 0
GAP INC COM 364760108 718 42,167 SH   SOLE   718 0 0
DUKE ENERGY CORPORATION COM 26441C105 700 7,915 SH   SOLE   700 0 0
PHILLIPS 66 COM COM 718546104 699 13,495 SH   SOLE   699 0 0
O-I GLASS, INC. COM 690768403 683 64,500 SH   SOLE   683 0 0
MARKEL CORP. COM 570535104 666 685 SH   SOLE   666 0 0
SPIRE COM 84857L101 649 12,200 SH   SOLE   649 0 0
CALAVO GROWERS INC COM 128246105 629 9,500 SH   SOLE   629 0 0
INTEL COM 458140100 607 11,728 SH   SOLE   607 0 0
GOODYEAR TIRE & RUBBER COM 382550101 605 78,967 SH   SOLE   605 0 0
MARATHON PETE CORP COM COM 56585A102 603 20,571 SH   SOLE   603 0 0
INTERCONTINENTAL EXCHANGE COM 45866F104 600 6,000 SH   SOLE   600 0 0
SCHLUMBERGER LTD F COM 806857108 596 38,352 SH   SOLE   596 0 0
ONEOK, INC COM 682680103 589 22,705 SH   SOLE   589 0 0
GENUINE PARTS CO COM COM 372460105 567 5,960 SH   SOLE   567 0 0
MURPHY OIL CORP COM 626717102 563 63,220 SH   SOLE   563 0 0
CONOCOPHILLIPS COM 20825C104 525 16,007 SH   SOLE   525 0 0
AMERICAN STATES WATER CO COM 029899101 517 6,900 SH   SOLE   517 0 0
BRIGHTHOUSE FINL INC COM COM 10922N103 496 18,450 SH   SOLE   496 0 0
AMGEN INC COM 031162100 490 1,930 SH   SOLE   490 0 0
ANGLOGOLD LTD COM 035128206 478 18,150 SH   SOLE   478 0 0
PACCAR INC COM 693718108 469 5,500 SH   SOLE   469 0 0
BARRICK GOLD COM 067901108 466 16,600 SH   SOLE   466 0 0
AGNICO-EAGLE MINES LTD COM 008474108 461 5,800 SH   SOLE   461 0 0
BANK OF NEW YORK CO INC COM 064058100 456 13,300 SH   SOLE   456 0 0
RAYTHEON TECHNOLOGIES CO. COM 75513E101 450 7,836 SH   SOLE   450 0 0
CDK GLOBAL HOLDINGS LLC COM COM 12508E101 441 10,122 SH   SOLE   441 0 0
INTL BUSINESS MACHINES COM 459200101 436 3,586 SH   SOLE   436 0 0
ALAMOS GOLD INC. COM 011532108 418 47,500 SH   SOLE   418 0 0
PENSKE AUTOMOTIVE GROUP COM 70959W103 414 8,700 SH   SOLE   414 0 0
AMERITRADE HLDNG CORP CL A COM 87236Y108 413 10,550 SH   SOLE   413 0 0
PAYPAL HOLDINGS INC. COM 70450Y103 410 2,081 SH   SOLE   410 0 0
GLOBAL PAYMENTS INC. COM 37940X102 408 2,300 SH   SOLE   408 0 0
NEXTERA ENERGY INC COM 65339F101 394 1,420 SH   SOLE   394 0 0
ASTRAZENECA PLC ADR COM 046353108 391 7,146 SH   SOLE   391 0 0
NETAPP INC. COM 64110D104 381 8,700 SH   SOLE   381 0 0
SPROUTS FARMERS MKT COM 85208M102 377 18,050 SH   SOLE   377 0 0
ARTESIAN RES CORP CLA COM 043113208 376 10,913 SH   SOLE   376 0 0
HESS CORPORATION COM 42809H107 356 8,700 SH   SOLE   356 0 0
KINROSS GOLD CORP NEW COM 496902404 349 39,600 SH   SOLE   349 0 0
AEROJET ROCKETDYNE HLDGS INC C OM COM 007800105 347 8,700 SH   SOLE   347 0 0
ONE GAS INC COM COM 68235P108 345 5,008 SH   SOLE   345 0 0
KNOWLES CORP COM COM 49926D109 338 22,731 SH   SOLE   338 0 0
ZOETIS INC. COM 98978V103 330 2,000 SH   SOLE   330 0 0
XEROX CORP COM 984121103 326 17,408 SH   SOLE   326 0 0
LILLY ELI & COMPANY COM 532457108 326 2,203 SH   SOLE   326 0 0
AVERY DENNISON CORP COM 053611109 325 2,550 SH   SOLE   325 0 0
TRANSDIGM GROUP INC. COM 893641100 325 685 SH   SOLE   325 0 0
AMER ELECTRIC PWR CO INC COM 025537101 325 3,980 SH   SOLE   325 0 0
NUTRIEN LTD CO COM COM 67077M108 324 8,260 SH   SOLE   324 0 0
NUVEEN QUALITY MUNICIPAL COM 67066V101 321 22,135 SH   SOLE   321 0 0
COMMERCIAL METALS CO COM 201723103 301 15,100 SH   SOLE   301 0 0
CHURCHILL DOWNS INC KY COM 171484108 294 1,800 SH   SOLE   294 0 0
INTERNATIONAL PAPER CO COM 460146103 289 7,138 SH   SOLE   289 0 0
CHEMOURS COMPANY COM 163851108 271 12,998 SH   SOLE   271 0 0
BECTON DICKINSON & CO COM 075887109 265 1,140 SH   SOLE   265 0 0
EXPEDITORS INTL WASH COM 302130109 253 2,800 SH   SOLE   253 0 0
MATSON INC COM COM 57686G105 252 6,300 SH   SOLE   252 0 0
MARATHON OIL CO. COM 565849106 251 61,575 SH   SOLE   251 0 0
ALLEGHENY TECH INC COM 01741R102 251 28,800 SH   SOLE   251 0 0
VALVOLINE INC. COM 92047W101 245 12,900 SH   SOLE   245 0 0
DENNYS CORP COM 24869P104 245 24,500 SH   SOLE   245 0 0
OLD REPUBLIC INTL CORP COM 680223104 238 16,200 SH   SOLE   238 0 0
STEEL DYNAMICS INC COM 858119100 237 8,300 SH   SOLE   237 0 0
CARRIER GLOBAL CORP. COM 14448C104 236 7,756 SH   SOLE   236 0 0
OTIS WORLDWIDE CORP. COM 68902V107 229 3,677 SH   SOLE   229 0 0
ASHLAND INC COM 044186104 226 3,200 SH   SOLE   226 0 0
PAN AMERICAN SILVER COM 697900108 225 7,000 SH   SOLE   225 0 0
MOSAIC CO NEW COM 61945C103 224 12,300 SH   SOLE   224 0 0
BP PLC COM 055622104 223 12,828 SH   SOLE   223 0 0
HELMERICH & PAYNE INC COM 423452101 220 15,050 SH   SOLE   220 0 0
DISCOVER FINL SVCS COM COM 254709108 219 3,800 SH   SOLE   219 0 0
PERRIGO CO COM G97822103 218 4,750 SH   SOLE   218 0 0
PNC BANK CORP COM 693475105 209 1,910 SH   SOLE   209 0 0
COLGATE-PALMOLIVE CO COM 194162103 208 2,700 SH   SOLE   208 0 0
KEURIG DR PEPPER INC. COM 49271V100 204 7,400 SH   SOLE   204 0 0
MUELLER WATER PRODUCTS COM 624758108 202 19,500 SH   SOLE   202 0 0
ACTIVISION CORP COM 00507V109 202 2,500 SH   SOLE   202 0 0
HUNTINGTON BANCSHARES INC COM 446150104 196 21,418 SH   SOLE   196 0 0
FERRO CORP COM 315405100 193 15,626 SH   SOLE   193 0 0
KEYCORP COM 493267108 191 16,016 SH   SOLE   191 0 0
MACYS INC. COM 55616P104 179 31,550 SH   SOLE   179 0 0
FORD MOTOR COMPANY COM 345370860 174 26,150 SH   SOLE   174 0 0
REGIONS FINANCIAL CP NEW COM 7591EP100 166 14,401 SH   SOLE   166 0 0
HALLIBURTON COMPANY COM 406216101 128 10,695 SH   SOLE   128 0 0
OCCIDENTAL PETE CORP COM 674599105 114 11,429 SH   SOLE   114 0 0
NOBLE ENERGY INC. COM 655044105 104 12,275 SH   SOLE   104 0 0
INTEVAC INC COM 461148108 99 18,100 SH   SOLE   99 0 0
NO EUROPEAN OIL TR COM 659310106 99 33,900 SH   SOLE   99 0 0
CLEVELAND-CLIFFS, INC. COM 185899101 88 13,740 SH   SOLE   88 0 0
SOLITARIO EXPLORATION COM 8342EP107 77 193,000 SH   SOLE   77 0 0
YAMANA GOLD INC COM 98462Y100 65 11,500 SH   SOLE   65 0 0
IAMGOLD CORPORATION COM 450913108 65 17,000 SH   SOLE   65 0 0
FARMER BROS. CO. COM 307675108 60 13,700 SH   SOLE   60 0 0
TIMKENSTEEL CORP COM COM 887399103 59 16,850 SH   SOLE   59 0 0
PERMIAN BASIN ROYALTY TR COM 714236106 59 23,900 SH   SOLE   59 0 0
TRANSOCEAN SEDCO FOREX COM H8817H100 59 73,435 SH   SOLE   59 0 0
ZIX CORP COM 98974P100 58 10,000 SH   SOLE   58 0 0
ORION MARINE GROUP COM 68628V308 41 15,000 SH   SOLE   41 0 0
PDL BIOPHARMA INC COM 69329Y104 40 13,000 SH   SOLE   40 0 0
PATTERSON UTIL ENRGY COM 703481101 29 10,200 SH   SOLE   29 0 0
AEGON N V ORD AMER REG COM 007924103 25 10,000 SH   SOLE   25 0 0
KOSMOS ENERGY LTD COM 500688106 21 22,000 SH   SOLE   21 0 0
GREAT PANTHER SILVER COM 39115V101 9 11,000 SH   SOLE   9 0 0