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
GRAINGER WW INC COM 384802104 10,283 19,937 SH   SOLE   10,283 0 0
LINDE PLC COM COM G5494J103 9,532 29,842 SH   SOLE   9,532 0 0
TRACTOR SUPPLY COMPANY COM 892356106 8,821 37,800 SH   SOLE   8,821 0 0
MASTERCARD INC COM 57636Q104 7,944 22,231 SH   SOLE   7,944 0 0
STARBUCKS CORP COM 855244109 7,670 84,324 SH   SOLE   7,670 0 0
CHEVRONTEXACO CORP COM 166764100 7,650 46,984 SH   SOLE   7,650 0 0
EXXON MOBIL CORP COM 30231G102 7,134 86,381 SH   SOLE   7,134 0 0
MICROSOFT CORP COM 594918104 7,026 22,789 SH   SOLE   7,026 0 0
HERSHEY FOODS CORP COM 427866108 6,902 31,864 SH   SOLE   6,902 0 0
AUTO DATA PROCESSING COM 053015103 6,433 28,274 SH   SOLE   6,433 0 0
APPLE, INC COM 037833100 6,364 36,449 SH   SOLE   6,364 0 0
AGILENT TECHNOLOGIES COM 00846U101 5,958 45,029 SH   SOLE   5,958 0 0
AIR PRODUCTS & CHEMICALS COM 009158106 5,486 21,955 SH   SOLE   5,486 0 0
DEERE & CO COM 244199105 5,447 13,113 SH   SOLE   5,447 0 0
TEXAS INSTRUMENTS INC COM 882508104 5,366 29,249 SH   SOLE   5,366 0 0
PEPSICO INCORPORATED COM 713448108 4,936 29,490 SH   SOLE   4,936 0 0
UNION PACIFIC CORP COM 907818108 4,717 17,266 SH   SOLE   4,717 0 0
ABBVIE INC COM COM 00287Y109 4,626 28,542 SH   SOLE   4,626 0 0
JOHNSON & JOHNSON COM 478160104 4,605 25,986 SH   SOLE   4,605 0 0
EMERSON ELECTRIC COM 291011104 4,262 43,473 SH   SOLE   4,262 0 0
MC CORMICK & CO NEW VT COM 579780206 4,167 41,755 SH   SOLE   4,167 0 0
OLIN CORP NEW COM 680665205 4,147 79,335 SH   SOLE   4,147 0 0
ABBOTT LABORATORIES COM 002824100 3,981 33,641 SH   SOLE   3,981 0 0
KEYSIGHT TECHNOLOGIES INC COM COM 49338L103 3,892 24,639 SH   SOLE   3,892 0 0
SYSCO CORP. COM 871829107 3,623 44,384 SH   SOLE   3,623 0 0
LAUDER ESTEE CORP CL A COM 518439104 3,588 13,177 SH   SOLE   3,588 0 0
ADVANSIX INC COM COM 00773T101 3,513 68,776 SH   SOLE   3,513 0 0
DISNEY WALT HOLDING CO COM 254687106 3,418 24,924 SH   SOLE   3,418 0 0
TRANE TECHNOLOGIES PLC COM G8994E103 3,412 22,348 SH   SOLE   3,412 0 0
BROWN FORMAN CORP CL B COM 115637209 3,364 50,207 SH   SOLE   3,364 0 0
DOW CHEMICAL COM 260557103 3,195 50,151 SH   SOLE   3,195 0 0
BROADRIDGE FINANCIAL COM 11133T103 3,192 20,500 SH   SOLE   3,192 0 0
BUNGE COM G16962105 3,153 28,462 SH   SOLE   3,153 0 0
COSTCO WHOLSALE CORP NEW COM 22160K105 3,112 5,405 SH   SOLE   3,112 0 0
STERIS PLC COM 859152100 3,082 12,750 SH   SOLE   3,082 0 0
MIDDLEBY CORP THE COM 596278101 3,024 18,450 SH   SOLE   3,024 0 0
INTL FLAVOR & FRAGRANCES COM 459506101 3,009 22,914 SH   SOLE   3,009 0 0
CHESAPEAKE UTIL CORP COM 165303108 2,848 20,677 SH   SOLE   2,848 0 0
EATON CORPORATION COM 278058102 2,788 18,376 SH   SOLE   2,788 0 0
KIMBERLY-CLARK CORP COM 494368103 2,743 22,274 SH   SOLE   2,743 0 0
APPLIED MATERIALS INC COM 038222105 2,738 20,775 SH   SOLE   2,738 0 0
HOME DEPOT INC COM 437076102 2,681 8,958 SH   SOLE   2,681 0 0
NORFOLK SOUTHERN CORP COM 655844108 2,614 9,168 SH   SOLE   2,614 0 0
MURPHY OIL CORP COM 626717102 2,593 64,220 SH   SOLE   2,593 0 0
SONOCO PRODUCTS INC COM 835495102 2,586 41,350 SH   SOLE   2,586 0 0
GORMAN-RUPP CO COM COM 383082104 2,489 69,383 SH   SOLE   2,489 0 0
NEWMONT GOLDCORP COM 651639106 2,439 30,699 SH   SOLE   2,439 0 0
CINTAS CORP COM 172908105 2,382 5,601 SH   SOLE   2,382 0 0
DARDEN RESTURANTS INC COM 237194105 2,334 17,560 SH   SOLE   2,334 0 0
WESTROCK CO COM COM 96145D105 2,287 48,633 SH   SOLE   2,287 0 0
AMERICAN EXPRESS CO. COM 025816109 2,228 11,915 SH   SOLE   2,228 0 0
APPLIED INDL. TECH. COM 03820C105 2,224 21,670 SH   SOLE   2,224 0 0
ANALOG DEVICES INC COM 032654105 2,147 13,000 SH   SOLE   2,147 0 0
CASEYS GENERAL STORES INC COM 147528103 2,095 10,574 SH   SOLE   2,095 0 0
LOWES COMPANIES INC COM 548661107 2,080 10,290 SH   SOLE   2,080 0 0
COCA-COLA COMPANY COM 191216100 2,050 33,077 SH   SOLE   2,050 0 0
HONEYWELL INC. COM 438516106 2,022 10,394 SH   SOLE   2,022 0 0
PARKER-HANNIFIN CORP COM 701094104 1,976 6,965 SH   SOLE   1,976 0 0
FIDELITY NATL INFO SVCS COM 31620M106 1,896 18,885 SH   SOLE   1,896 0 0
ALBANY INT'L CORP. COM 012348108 1,863 22,100 SH   SOLE   1,863 0 0
GENERAL MILLS INC COM 370334104 1,858 27,447 SH   SOLE   1,858 0 0
VALERO ENERGY COM 91913Y100 1,829 18,013 SH   SOLE   1,829 0 0
MINE SAFTEY APPLIANCE CO COM 553498106 1,823 13,740 SH   SOLE   1,823 0 0
CATERPILLAR INC COM 149123101 1,814 8,143 SH   SOLE   1,814 0 0
MARATHON PETE CORP COM COM 56585A102 1,798 21,039 SH   SOLE   1,798 0 0
KIRBY CORP COM 497266106 1,784 24,722 SH   SOLE   1,784 0 0
CLEVELAND-CLIFFS, INC. COM 185899101 1,772 55,025 SH   SOLE   1,772 0 0
CELANESE CORP. COM 150870103 1,764 12,350 SH   SOLE   1,764 0 0
MERCK & CO INC COM 58933Y105 1,759 21,449 SH   SOLE   1,759 0 0
NUTRIEN LTD CO COM COM 67077M108 1,728 16,620 SH   SOLE   1,728 0 0
MURPHY USA INC. COM 626755102 1,608 8,043 SH   SOLE   1,608 0 0
CHUBB CORPORATION COM 171232101 1,582 7,396 SH   SOLE   1,582 0 0
ONEOK, INC COM 682680103 1,542 21,845 SH   SOLE   1,542 0 0
CORTEVA INC COM COM 22052L104 1,529 26,615 SH   SOLE   1,529 0 0
SCHLUMBERGER LTD F COM 806857108 1,528 37,012 SH   SOLE   1,528 0 0
FRANKLIN ELEC CO INC COM 353514102 1,527 18,400 SH   SOLE   1,527 0 0
PFIZER INC COM 717081103 1,516 29,288 SH   SOLE   1,516 0 0
MARATHON OIL CO. COM 565849106 1,484 59,125 SH   SOLE   1,484 0 0
CONOCOPHILLIPS COM 20825C104 1,473 14,737 SH   SOLE   1,473 0 0
TIMKEN COMPANY COM 887389104 1,426 23,500 SH   SOLE   1,426 0 0
DU PONT E I DE NEMOUR&CO COM 263534109 1,412 19,195 SH   SOLE   1,412 0 0
NORTHERN TRUST CORP COM 665859104 1,403 12,050 SH   SOLE   1,403 0 0
ATMOS ENERGY CORP COM 049560105 1,392 11,651 SH   SOLE   1,392 0 0
CANADIAN PAC LTD NEW COM 13645T100 1,380 16,726 SH   SOLE   1,380 0 0
STRYKER CORP COM 863667101 1,376 5,150 SH   SOLE   1,376 0 0
METLIFE INC COM 59156R108 1,366 19,450 SH   SOLE   1,366 0 0
ENBRIDGE INC. COM 29250N105 1,345 29,187 SH   SOLE   1,345 0 0
THE CHARLES SCHWAB CORP COM 808513105 1,300 15,429 SH   SOLE   1,300 0 0
ORGANON & CO. COM 68622V106 1,297 37,140 SH   SOLE   1,297 0 0
AVNET INC COM 053807103 1,280 31,550 SH   SOLE   1,280 0 0
DOVER CORPORATION COM 260003108 1,276 8,138 SH   SOLE   1,276 0 0
US STEEL CORP. COM 912909108 1,259 33,375 SH   SOLE   1,259 0 0
INGEVITY CORP COM COM 45688C107 1,226 19,146 SH   SOLE   1,226 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 1,225 16,784 SH   SOLE   1,225 0 0
TIMKENSTEEL CORP COM COM 887399103 1,205 55,100 SH   SOLE   1,205 0 0
COMERICA INC. COM 200340107 1,183 13,090 SH   SOLE   1,183 0 0
3M COMPANY COM 88579Y101 1,181 7,935 SH   SOLE   1,181 0 0
PHILLIPS 66 COM COM 718546104 1,126 13,045 SH   SOLE   1,126 0 0
MOSAIC CO NEW COM 61945C103 1,123 16,900 SH   SOLE   1,123 0 0
CSX CORP COM 126408103 1,112 29,700 SH   SOLE   1,112 0 0
GOODYEAR TIRE & RUBBER COM 382550101 1,066 74,667 SH   SOLE   1,066 0 0
FRANCO NEVADA CORP. COM 351858105 1,048 6,575 SH   SOLE   1,048 0 0
MARKEL CORP. COM 570535104 1,010 685 SH   SOLE   1,010 0 0
INGERSOLL-RAND COMPANY COM G47791101 996 19,796 SH   SOLE   996 0 0
VERIZON COMM COM 92343V104 912 17,911 SH   SOLE   912 0 0
STANLEY BLACK & DECKER INC. COM 854502101 900 6,445 SH   SOLE   900 0 0
HESS CORPORATION COM 42809H107 899 8,400 SH   SOLE   899 0 0
O-I GLASS, INC. COM 690768403 890 67,600 SH   SOLE   890 0 0
SCHWAB US TIPS ETF COM 808524870 868 14,300 SH   SOLE   868 0 0
DOMINION RESOURCES INC. COM 25746U109 863 10,165 SH   SOLE   863 0 0
SPIRE COM 84857L101 861 12,000 SH   SOLE   861 0 0
ALLEGION PUBLIC LTD. CO. COM G0176J109 851 7,753 SH   SOLE   851 0 0
CORNING INC. COM 219350105 830 22,500 SH   SOLE   830 0 0
BRIGHTHOUSE FINL INC COM COM 10922N103 826 16,000 SH   SOLE   826 0 0
SHERWIN WILLIAMS CO COM 824348106 823 3,300 SH   SOLE   823 0 0
MATSON INC COM COM 57686G105 820 6,800 SH   SOLE   820 0 0
EASTMAN CHEMICAL COM 277432100 806 7,200 SH   SOLE   806 0 0
INTERCONTINENTAL EXCHANGE COM 45866F104 792 6,000 SH   SOLE   792 0 0
COMMERCIAL METALS CO COM 201723103 757 18,200 SH   SOLE   757 0 0
MACYS INC. COM 55616P104 756 31,050 SH   SOLE   756 0 0
PENSKE AUTOMOTIVE GROUP COM 70959W103 749 8,000 SH   SOLE   749 0 0
NEENAH PAPER INC COM 640079109 741 18,693 SH   SOLE   741 0 0
RAYTHEON TECHNOLOGIES CO. COM 75513E101 735 7,420 SH   SOLE   735 0 0
DUKE ENERGY CORPORATION COM 26441C105 720 6,451 SH   SOLE   720 0 0
STEEL DYNAMICS INC COM 858119100 717 8,600 SH   SOLE   717 0 0
GENUINE PARTS CO COM COM 372460105 713 5,660 SH   SOLE   713 0 0
ALLEGHENY TECH INC COM 01741R102 681 25,400 SH   SOLE   681 0 0
COTERRA ENERGY INC. COM 127097103 669 24,814 SH   SOLE   669 0 0
LILLY ELI & COMPANY COM 532457108 644 2,250 SH   SOLE   644 0 0
NETAPP INC. COM 64110D104 639 7,700 SH   SOLE   639 0 0
BANK OF NEW YORK CO INC COM 064058100 625 12,600 SH   SOLE   625 0 0
KINDER MORGAN INC COM 49456B101 623 32,968 SH   SOLE   623 0 0
OCCIDENTAL PETE CORP COM 674599105 617 10,889 SH   SOLE   617 0 0
AMERICAN STATES WATER CO COM 029899101 605 6,800 SH   SOLE   605 0 0
SPROUTS FARMERS MKT COM 85208M102 586 18,350 SH   SOLE   586 0 0
HELMERICH & PAYNE INC COM 423452101 583 13,650 SH   SOLE   583 0 0
INTEL COM 458140100 567 11,453 SH   SOLE   567 0 0
NEXTERA ENERGY INC COM 65339F101 566 6,692 SH   SOLE   566 0 0
NO EUROPEAN OIL TR COM 659310106 554 34,800 SH   SOLE   554 0 0
OLD REPUBLIC INTL CORP COM 680223104 549 21,233 SH   SOLE   549 0 0
SHELL PLC. COM 780259305 525 9,573 SH   SOLE   525 0 0
GAP INC COM 364760108 524 37,242 SH   SOLE   524 0 0
KROGER CO COM 501044101 499 8,700 SH   SOLE   499 0 0
ARTESIAN RES CORP CLA COM 043113208 488 10,063 SH   SOLE   488 0 0
PACCAR INC COM 693718108 484 5,500 SH   SOLE   484 0 0
ASTRAZENECA PLC ADR COM 046353108 474 7,146 SH   SOLE   474 0 0
DIAMONDBACK ENERGY COM 25278X109 473 3,457 SH   SOLE   473 0 0
OVINTIV INC. COM 69047Q102 470 8,700 SH   SOLE   470 0 0
VIATRIS INC. COM 92556V106 470 43,200 SH   SOLE   470 0 0
AMGEN INC COM 031162100 458 1,895 SH   SOLE   458 0 0
BARRICK GOLD COM 067901108 451 18,400 SH   SOLE   451 0 0
TRANSDIGM GROUP INC. COM 893641100 446 685 SH   SOLE   446 0 0
KNOWLES CORP COM COM 49926D109 443 20,581 SH   SOLE   443 0 0
DISCOVER FINL SVCS COM COM 254709108 440 4,000 SH   SOLE   440 0 0
ANGLOGOLD LTD COM 035128206 435 18,388 SH   SOLE   435 0 0
IMPERIAL OIL LTD COM 453038408 435 9,000 SH   SOLE   435 0 0
ONE GAS INC COM COM 68235P108 435 4,933 SH   SOLE   435 0 0
FORD MOTOR COMPANY COM 345370860 416 24,650 SH   SOLE   416 0 0
CHEMOURS COMPANY COM 163851108 408 12,968 SH   SOLE   408 0 0
CULLEN FROST BANKERS COM 229899109 401 2,900 SH   SOLE   401 0 0
ZIONS BANCORPORATION COM COM 989701107 399 6,100 SH   SOLE   399 0 0
CHURCHILL DOWNS INC KY COM 171484108 399 1,800 SH   SOLE   399 0 0
CDK GLOBAL HOLDINGS LLC COM COM 12508E101 392 8,065 SH   SOLE   392 0 0
VALVOLINE INC. COM 92047W101 391 12,400 SH   SOLE   391 0 0
AGNICO-EAGLE MINES LTD COM 008474108 387 6,325 SH   SOLE   387 0 0
AVERY DENNISON CORP COM 053611109 382 2,200 SH   SOLE   382 0 0
ALAMOS GOLD INC. COM 011532108 378 45,000 SH   SOLE   378 0 0
ZOETIS INC. COM 98978V103 377 2,000 SH   SOLE   377 0 0
INTL BUSINESS MACHINES COM 459200101 373 2,872 SH   SOLE   373 0 0
KEYCORP COM 493267108 366 16,366 SH   SOLE   366 0 0
AMER ELECTRIC PWR CO INC COM 025537101 363 3,645 SH   SOLE   363 0 0
BP PLC COM 055622104 358 12,192 SH   SOLE   358 0 0
TRANSOCEAN SEDCO FOREX COM H8817H100 357 78,254 SH   SOLE   357 0 0
FERRO CORP COM 315405100 357 16,426 SH   SOLE   357 0 0
HF SINCLAIR CORP. COM 403949100 350 8,800 SH   SOLE   350 0 0
DENNYS CORP COM 24869P104 350 24,500 SH   SOLE   350 0 0
PIONEER NATURAL RES CO COM 723787107 350 1,400 SH   SOLE   350 0 0
CALAVO GROWERS INC COM 128246105 346 9,500 SH   SOLE   346 0 0
CARRIER GLOBAL CORP. COM 14448C104 343 7,481 SH   SOLE   343 0 0
AEROJET ROCKETDYNE HLDGS INC C OM COM 007800105 342 8,700 SH   SOLE   342 0 0
REGIONS FINANCIAL CP NEW COM 7591EP100 341 15,333 SH   SOLE   341 0 0
PAYCHEX INC COM 704326107 337 2,471 SH   SOLE   337 0 0
HALLIBURTON COMPANY COM 406216101 335 8,870 SH   SOLE   335 0 0
PNC BANK CORP COM 693475105 333 1,810 SH   SOLE   333 0 0
WELLS FARGO & CO NEW COM 949746101 330 6,818 SH   SOLE   330 0 0
ALCOA CORP. COM 013872106 321 3,567 SH   SOLE   321 0 0
XEROX CORP COM 984121103 319 15,858 SH   SOLE   319 0 0
CALERES INC. COM 129500104 318 16,500 SH   SOLE   318 0 0
PERMIAN BASIN ROYALTY TR COM 714236106 315 25,400 SH   SOLE   315 0 0
ASHLAND INC COM 044186104 314 3,200 SH   SOLE   314 0 0
GLOBAL PAYMENTS INC. COM 37940X102 314 2,300 SH   SOLE   314 0 0
INTERNATIONAL PAPER CO COM 460146103 312 6,763 SH   SOLE   312 0 0
BECTON DICKINSON & CO COM 075887109 303 1,140 SH   SOLE   303 0 0
US BANCORP DEL COM 902973304 292 5,500 SH   SOLE   292 0 0
FLUOR CORPORATION COM 343412102 286 10,000 SH   SOLE   286 0 0
HUNTINGTON BANCSHARES INC COM 446150104 286 19,618 SH   SOLE   286 0 0
FIFTH THIRD BANCORP COM 316773100 281 6,531 SH   SOLE   281 0 0
OTIS WORLDWIDE CORP. COM 68902V107 279 3,628 SH   SOLE   279 0 0
EXPEDITORS INTL WASH COM 302130109 278 2,700 SH   SOLE   278 0 0
NUVEEN QUALITY MUNICIPAL COM 67066V101 278 20,835 SH   SOLE   278 0 0
ST JOE COMPANY COM 790148100 271 4,588 SH   SOLE   271 0 0
KEURIG DR PEPPER INC. COM 49271V100 270 7,150 SH   SOLE   270 0 0
APACHE CORP COM 03743Q108 260 6,300 SH   SOLE   260 0 0
BAKER HUGHES CO. COM 05722G100 254 7,000 SH   SOLE   254 0 0
MUELLER WATER PRODUCTS COM 624758108 251 19,500 SH   SOLE   251 0 0
KIMCO REALTY CORP COM 49446R109 249 10,106 SH   SOLE   249 0 0
KINROSS GOLD CORP NEW COM 496902404 241 41,100 SH   SOLE   241 0 0
PAYPAL HOLDINGS INC. COM 70450Y103 240 2,081 SH   SOLE   240 0 0
CME GROUP INC COM COM 12572Q105 239 1,007 SH   SOLE   239 0 0
PARK NATIONAL CORP COM 700658107 236 1,800 SH   SOLE   236 0 0
ILLINOIS TOOL WORKS COM 452308109 230 1,100 SH   SOLE   230 0 0
DEVON ENERGY CP NEW COM 25179M103 218 3,700 SH   SOLE   218 0 0
KELLOGG COMPANY COM 487836108 213 3,310 SH   SOLE   213 0 0
PERRIGO CO COM G97822103 209 5,450 SH   SOLE   209 0 0
O REILLY AUTOMOTIVE INC COM 67103H107 205 300 SH   SOLE   205 0 0
PAN AMERICAN SILVER COM 697900108 204 7,500 SH   SOLE   204 0 0
COLGATE-PALMOLIVE CO COM 194162103 204 2,700 SH   SOLE   204 0 0
RALPH LAUREN CORP. COM 751212101 204 1,800 SH   SOLE   204 0 0
KOSMOS ENERGY LTD COM 500688106 176 24,500 SH   SOLE   176 0 0
DNP SELECT INCOME FUND COM 23325P104 173 14,655 SH   SOLE   173 0 0
SOLITARIO EXPLORATION COM 8342EP107 158 188,000 SH   SOLE   158 0 0
ORANGE COM 684060106 118 10,000 SH   SOLE   118 0 0
ACCO BRANDS CORP COM COM 00081T108 92 11,500 SH   SOLE   92 0 0
FARMER BROS. CO. COM 307675108 90 12,750 SH   SOLE   90 0 0
INTEVAC INC COM 461148108 89 16,700 SH   SOLE   89 0 0
SOUTHWESTERN ENERGY CO COM 845467109 76 10,700 SH   SOLE   76 0 0
CHICOS FAS INC COM 168615102 69 14,400 SH   SOLE   69 0 0
IAMGOLD CORPORATION COM 450913108 67 19,500 SH   SOLE   67 0 0
YAMANA GOLD INC COM 98462Y100 66 12,000 SH   SOLE   66 0 0
AEGON N V ORD AMER REG COM 007924103 52 10,000 SH   SOLE   52 0 0
ORION MARINE GROUP COM 68628V308 37 15,000 SH   SOLE   37 0 0
GREAT PANTHER SILVER COM 39115V101 3 15,000 SH   SOLE   3 0 0
ALLIANCEBERNSTEIN HLDG LP COM 01881G106 116 2,482 SH   SOLE   116 0 0
VANGUARD TOTAL STK MKT TST COM 922908769 232 1,020 SH   SOLE   232 0 0