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 10,369 19,917 SH   SOLE   10,369 0 0
LINDE PLC COM COM G5494J103 9,717 29,842 SH   SOLE   9,717 0 0
TRACTOR SUPPLY COMPANY COM 892356106 8,707 37,397 SH   SOLE   8,707 0 0
MASTERCARD INC COM 57636Q104 7,844 21,656 SH   SOLE   7,844 0 0
CHEVRONTEXACO CORP COM 166764100 7,774 46,983 SH   SOLE   7,774 0 0
STARBUCKS CORP COM 855244109 7,537 82,799 SH   SOLE   7,537 0 0
EXXON MOBIL CORP COM 30231G102 7,203 85,976 SH   SOLE   7,203 0 0
MICROSOFT CORP COM 594918104 7,146 22,769 SH   SOLE   7,146 0 0
HERSHEY FOODS CORP COM 427866108 6,843 31,589 SH   SOLE   6,843 0 0
AUTO DATA PROCESSING COM 053015103 6,391 28,064 SH   SOLE   6,391 0 0
APPLE, INC COM 037833100 6,343 35,685 SH   SOLE   6,343 0 0
AGILENT TECHNOLOGIES COM 00846U101 6,092 44,979 SH   SOLE   6,092 0 0
AIR PRODUCTS & CHEMICALS COM 009158106 5,558 21,955 SH   SOLE   5,558 0 0
TEXAS INSTRUMENTS INC COM 882508104 5,473 29,199 SH   SOLE   5,473 0 0
DEERE & CO COM 244199105 5,449 13,113 SH   SOLE   5,449 0 0
PEPSICO INCORPORATED COM 713448108 4,953 29,490 SH   SOLE   4,953 0 0
UNION PACIFIC CORP COM 907818108 4,735 17,116 SH   SOLE   4,735 0 0
JOHNSON & JOHNSON COM 478160104 4,666 25,986 SH   SOLE   4,666 0 0
EMERSON ELECTRIC COM 291011104 4,297 43,418 SH   SOLE   4,297 0 0
OLIN CORP NEW COM 680665205 4,196 79,335 SH   SOLE   4,196 0 0
ABBVIE INC COM COM 00287Y109 4,098 25,027 SH   SOLE   4,098 0 0
MC CORMICK & CO NEW VT COM 579780206 4,061 41,755 SH   SOLE   4,061 0 0
ABBOTT LABORATORIES COM 002824100 4,023 33,421 SH   SOLE   4,023 0 0
KEYSIGHT TECHNOLOGIES INC COM COM 49338L103 3,942 24,519 SH   SOLE   3,942 0 0
SYSCO CORP. COM 871829107 3,681 44,359 SH   SOLE   3,681 0 0
LAUDER ESTEE CORP CL A COM 518439104 3,671 13,152 SH   SOLE   3,671 0 0
TRANE TECHNOLOGIES PLC COM G8994E103 3,544 22,348 SH   SOLE   3,544 0 0
ADVANSIX INC COM COM 00773T101 3,525 68,676 SH   SOLE   3,525 0 0
DISNEY WALT HOLDING CO COM 254687106 3,513 24,925 SH   SOLE   3,513 0 0
BROWN FORMAN CORP CL B COM 115637209 3,339 49,610 SH   SOLE   3,339 0 0
DOW CHEMICAL COM 260557103 3,222 50,151 SH   SOLE   3,222 0 0
STERIS PLC COM 859152100 3,135 12,750 SH   SOLE   3,135 0 0
BUNGE COM G16962105 3,119 28,437 SH   SOLE   3,119 0 0
COSTCO WHOLSALE CORP NEW COM 22160K105 3,115 5,405 SH   SOLE   3,115 0 0
MIDDLEBY CORP THE COM 596278101 3,095 18,450 SH   SOLE   3,095 0 0
BROADRIDGE FINANCIAL COM 11133T103 3,046 19,550 SH   SOLE   3,046 0 0
INTL FLAVOR & FRAGRANCES COM 459506101 3,003 22,889 SH   SOLE   3,003 0 0
EATON CORPORATION COM 278058102 2,856 18,376 SH   SOLE   2,856 0 0
CHESAPEAKE UTIL CORP COM 165303108 2,853 20,642 SH   SOLE   2,853 0 0
APPLIED MATERIALS INC COM 038222105 2,821 20,775 SH   SOLE   2,821 0 0
HOME DEPOT INC COM 437076102 2,763 8,958 SH   SOLE   2,763 0 0
KIMBERLY-CLARK CORP COM 494368103 2,757 22,264 SH   SOLE   2,757 0 0
NORFOLK SOUTHERN CORP COM 655844108 2,650 9,168 SH   SOLE   2,650 0 0
MURPHY OIL CORP COM 626717102 2,605 64,220 SH   SOLE   2,605 0 0
SONOCO PRODUCTS INC COM 835495102 2,588 41,275 SH   SOLE   2,588 0 0
GORMAN-RUPP CO COM COM 383082104 2,567 70,390 SH   SOLE   2,567 0 0
NEWMONT GOLDCORP COM 651639106 2,454 30,699 SH   SOLE   2,454 0 0
CINTAS CORP COM 172908105 2,365 5,476 SH   SOLE   2,365 0 0
DARDEN RESTURANTS INC COM 237194105 2,305 17,510 SH   SOLE   2,305 0 0
WESTROCK CO COM COM 96145D105 2,302 48,633 SH   SOLE   2,302 0 0
AMERICAN EXPRESS CO. COM 025816109 2,239 11,800 SH   SOLE   2,239 0 0
APPLIED INDL. TECH. COM 03820C105 2,186 21,670 SH   SOLE   2,186 0 0
ANALOG DEVICES INC COM 032654105 2,164 13,000 SH   SOLE   2,164 0 0
LOWES COMPANIES INC COM 548661107 2,155 10,290 SH   SOLE   2,155 0 0
CASEYS GENERAL STORES INC COM 147528103 2,110 10,574 SH   SOLE   2,110 0 0
CLEVELAND-CLIFFS, INC. COM 185899101 2,079 64,725 SH   SOLE   2,079 0 0
COCA-COLA COMPANY COM 191216100 2,051 32,977 SH   SOLE   2,051 0 0
HONEYWELL INC. COM 438516106 2,042 10,394 SH   SOLE   2,042 0 0
PARKER-HANNIFIN CORP COM 701094104 2,031 6,965 SH   SOLE   2,031 0 0
FIDELITY NATL INFO SVCS COM 31620M106 1,903 18,840 SH   SOLE   1,903 0 0
ALBANY INT'L CORP. COM 012348108 1,884 22,100 SH   SOLE   1,884 0 0
MINE SAFTEY APPLIANCE CO COM 553498106 1,871 13,740 SH   SOLE   1,871 0 0
GENERAL MILLS INC COM 370334104 1,862 27,407 SH   SOLE   1,862 0 0
KIRBY CORP COM 497266106 1,837 24,722 SH   SOLE   1,837 0 0
CATERPILLAR INC COM 149123101 1,816 8,143 SH   SOLE   1,816 0 0
VALERO ENERGY COM 91913Y100 1,810 18,013 SH   SOLE   1,810 0 0
MARATHON PETE CORP COM COM 56585A102 1,795 21,039 SH   SOLE   1,795 0 0
CELANESE CORP. COM 150870103 1,786 12,350 SH   SOLE   1,786 0 0
MERCK & CO INC COM 58933Y105 1,767 21,449 SH   SOLE   1,767 0 0
NUTRIEN LTD CO COM COM 67077M108 1,696 16,620 SH   SOLE   1,696 0 0
CHUBB CORPORATION COM 171232101 1,608 7,396 SH   SOLE   1,608 0 0
MURPHY USA INC. COM 626755102 1,605 8,008 SH   SOLE   1,605 0 0
FRANKLIN ELEC CO INC COM 353514102 1,571 18,400 SH   SOLE   1,571 0 0
ONEOK, INC COM 682680103 1,566 21,845 SH   SOLE   1,566 0 0
SCHLUMBERGER LTD F COM 806857108 1,558 36,912 SH   SOLE   1,558 0 0
CORTEVA INC COM COM 22052L104 1,553 26,615 SH   SOLE   1,553 0 0
PFIZER INC COM 717081103 1,544 29,449 SH   SOLE   1,544 0 0
CONOCOPHILLIPS COM 20825C104 1,513 14,967 SH   SOLE   1,513 0 0
MARATHON OIL CO. COM 565849106 1,507 59,125 SH   SOLE   1,507 0 0
DU PONT E I DE NEMOUR&CO COM 263534109 1,469 19,195 SH   SOLE   1,469 0 0
TIMKEN COMPANY COM 887389104 1,464 23,500 SH   SOLE   1,464 0 0
NORTHERN TRUST CORP COM 665859104 1,412 11,700 SH   SOLE   1,412 0 0
METLIFE INC COM 59156R108 1,393 19,450 SH   SOLE   1,393 0 0
STRYKER CORP COM 863667101 1,386 5,150 SH   SOLE   1,386 0 0
ATMOS ENERGY CORP COM 049560105 1,378 11,451 SH   SOLE   1,378 0 0
THE CHARLES SCHWAB CORP COM 808513105 1,378 15,529 SH   SOLE   1,378 0 0
CANADIAN PAC LTD NEW COM 13645T100 1,377 16,481 SH   SOLE   1,377 0 0
ENBRIDGE INC. COM 29250N105 1,352 29,187 SH   SOLE   1,352 0 0
ORGANON & CO. COM 68622V106 1,329 37,140 SH   SOLE   1,329 0 0
AVNET INC COM 053807103 1,315 31,525 SH   SOLE   1,315 0 0
DOVER CORPORATION COM 260003108 1,306 8,138 SH   SOLE   1,306 0 0
INGEVITY CORP COM COM 45688C107 1,241 19,096 SH   SOLE   1,241 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 1,237 16,784 SH   SOLE   1,237 0 0
US STEEL CORP. COM 912909108 1,236 33,375 SH   SOLE   1,236 0 0
COMERICA INC. COM 200340107 1,215 13,090 SH   SOLE   1,215 0 0
TIMKENSTEEL CORP COM COM 887399103 1,211 55,100 SH   SOLE   1,211 0 0
3M COMPANY COM 88579Y101 1,201 7,935 SH   SOLE   1,201 0 0
PHILLIPS 66 COM COM 718546104 1,175 13,445 SH   SOLE   1,175 0 0
MOSAIC CO NEW COM 61945C103 1,126 17,200 SH   SOLE   1,126 0 0
CSX CORP COM 126408103 1,118 29,600 SH   SOLE   1,118 0 0
GOODYEAR TIRE & RUBBER COM 382550101 1,077 73,567 SH   SOLE   1,077 0 0
FRANCO NEVADA CORP. COM 351858105 1,062 6,575 SH   SOLE   1,062 0 0
MARKEL CORP. COM 570535104 1,022 685 SH   SOLE   1,022 0 0
INGERSOLL-RAND COMPANY COM G47791101 1,005 19,796 SH   SOLE   1,005 0 0
VERIZON COMM COM 92343V104 924 17,911 SH   SOLE   924 0 0
STANLEY BLACK & DECKER INC. COM 854502101 922 6,445 SH   SOLE   922 0 0
HESS CORPORATION COM 42809H107 911 8,400 SH   SOLE   911 0 0
O-I GLASS, INC. COM 690768403 895 67,600 SH   SOLE   895 0 0
ALLEGION PUBLIC LTD. CO. COM G0176J109 875 7,720 SH   SOLE   875 0 0
SCHWAB US TIPS ETF COM 808524870 871 14,300 SH   SOLE   871 0 0
SPIRE COM 84857L101 861 12,000 SH   SOLE   861 0 0
DOMINION RESOURCES INC. COM 25746U109 858 10,050 SH   SOLE   858 0 0
CORNING INC. COM 219350105 845 22,500 SH   SOLE   845 0 0
MATSON INC COM COM 57686G105 841 6,800 SH   SOLE   841 0 0
SHERWIN WILLIAMS CO COM 824348106 834 3,300 SH   SOLE   834 0 0
BRIGHTHOUSE FINL INC COM COM 10922N103 825 15,800 SH   SOLE   825 0 0
EASTMAN CHEMICAL COM 277432100 822 7,200 SH   SOLE   822 0 0
INTERCONTINENTAL EXCHANGE COM 45866F104 806 6,000 SH   SOLE   806 0 0
PENSKE AUTOMOTIVE GROUP COM 70959W103 801 8,000 SH   SOLE   801 0 0
MACYS INC. COM 55616P104 793 31,050 SH   SOLE   793 0 0
COMMERCIAL METALS CO COM 201723103 750 18,200 SH   SOLE   750 0 0
RAYTHEON TECHNOLOGIES CO. COM 75513E101 748 7,420 SH   SOLE   748 0 0
NEENAH PAPER INC COM 640079109 740 18,643 SH   SOLE   740 0 0
DUKE ENERGY CORPORATION COM 26441C105 730 6,551 SH   SOLE   730 0 0
GENUINE PARTS CO COM COM 372460105 729 5,660 SH   SOLE   729 0 0
STEEL DYNAMICS INC COM 858119100 719 8,600 SH   SOLE   719 0 0
ALLEGHENY TECH INC COM 01741R102 699 25,400 SH   SOLE   699 0 0
COTERRA ENERGY INC. COM 127097103 694 25,614 SH   SOLE   694 0 0
NETAPP INC. COM 64110D104 666 7,700 SH   SOLE   666 0 0
BANK OF NEW YORK CO INC COM 064058100 653 12,600 SH   SOLE   653 0 0
LILLY ELI & COMPANY COM 532457108 652 2,250 SH   SOLE   652 0 0
KINDER MORGAN INC COM 49456B101 629 32,968 SH   SOLE   629 0 0
OCCIDENTAL PETE CORP COM 674599105 625 10,889 SH   SOLE   625 0 0
AMERICAN STATES WATER CO COM 029899101 609 6,800 SH   SOLE   609 0 0
HELMERICH & PAYNE INC COM 423452101 592 13,650 SH   SOLE   592 0 0
INTEL COM 458140100 588 11,443 SH   SOLE   588 0 0
SPROUTS FARMERS MKT COM 85208M102 586 18,350 SH   SOLE   586 0 0
NEXTERA ENERGY INC COM 65339F101 572 6,692 SH   SOLE   572 0 0
OLD REPUBLIC INTL CORP COM 680223104 559 21,233 SH   SOLE   559 0 0
NO EUROPEAN OIL TR COM 659310106 551 34,800 SH   SOLE   551 0 0
GAP INC COM 364760108 545 37,242 SH   SOLE   545 0 0
SHELL PLC. COM 780259305 532 9,573 SH   SOLE   532 0 0
PACCAR INC COM 693718108 491 5,500 SH   SOLE   491 0 0
KROGER CO COM 501044101 490 8,700 SH   SOLE   490 0 0
ARTESIAN RES CORP CLA COM 043113208 483 10,033 SH   SOLE   483 0 0
DIAMONDBACK ENERGY COM 25278X109 481 3,457 SH   SOLE   481 0 0
ASTRAZENECA PLC ADR COM 046353108 479 7,146 SH   SOLE   479 0 0
VIATRIS INC. COM 92556V106 474 43,220 SH   SOLE   474 0 0
OVINTIV INC. COM 69047Q102 474 8,700 SH   SOLE   474 0 0
KNOWLES CORP COM COM 49926D109 462 20,581 SH   SOLE   462 0 0
TRANSDIGM GROUP INC. COM 893641100 460 685 SH   SOLE   460 0 0
AMGEN INC COM 031162100 459 1,895 SH   SOLE   459 0 0
BARRICK GOLD COM 067901108 457 18,400 SH   SOLE   457 0 0
DISCOVER FINL SVCS COM COM 254709108 453 4,000 SH   SOLE   453 0 0
ANGLOGOLD LTD COM 035128206 440 18,388 SH   SOLE   440 0 0
ONE GAS INC COM COM 68235P108 436 4,933 SH   SOLE   436 0 0
IMPERIAL OIL LTD COM 453038408 433 9,000 SH   SOLE   433 0 0
FORD MOTOR COMPANY COM 345370860 425 24,650 SH   SOLE   425 0 0
CHEMOURS COMPANY COM 163851108 417 12,968 SH   SOLE   417 0 0
ZIONS BANCORPORATION COM COM 989701107 410 6,100 SH   SOLE   410 0 0
CULLEN FROST BANKERS COM 229899109 410 2,900 SH   SOLE   410 0 0
CHURCHILL DOWNS INC KY COM 171484108 408 1,800 SH   SOLE   408 0 0
TRANSOCEAN SEDCO FOREX COM H8817H100 397 83,234 SH   SOLE   397 0 0
VALVOLINE INC. COM 92047W101 394 12,400 SH   SOLE   394 0 0
AGNICO-EAGLE MINES LTD COM 008474108 390 6,325 SH   SOLE   390 0 0
AVERY DENNISON CORP COM 053611109 389 2,200 SH   SOLE   389 0 0
ZOETIS INC. COM 98978V103 382 2,000 SH   SOLE   382 0 0
KEYCORP COM 493267108 376 16,366 SH   SOLE   376 0 0
ALAMOS GOLD INC. COM 011532108 374 45,000 SH   SOLE   374 0 0
INTL BUSINESS MACHINES COM 459200101 372 2,822 SH   SOLE   372 0 0
CDK GLOBAL HOLDINGS LLC COM COM 12508E101 372 7,597 SH   SOLE   372 0 0
BP PLC COM 055622104 366 12,192 SH   SOLE   366 0 0
AMER ELECTRIC PWR CO INC COM 025537101 362 3,645 SH   SOLE   362 0 0
PIONEER NATURAL RES CO COM 723787107 361 1,400 SH   SOLE   361 0 0
CARRIER GLOBAL CORP. COM 14448C104 355 7,481 SH   SOLE   355 0 0
CALAVO GROWERS INC COM 128246105 355 9,500 SH   SOLE   355 0 0
Prosperity Bancshare COM 743606105 349 4,965 SH   SOLE   349 0 0
HF SINCLAIR CORP. COM 403949100 348 8,800 SH   SOLE   348 0 0
DENNYS CORP COM 24869P104 348 24,500 SH   SOLE   348 0 0
REGIONS FINANCIAL CP NEW COM 7591EP100 347 15,333 SH   SOLE   347 0 0
PNC BANK CORP COM 693475105 345 1,810 SH   SOLE   345 0 0
HALLIBURTON COMPANY COM 406216101 341 8,870 SH   SOLE   341 0 0
WELLS FARGO & CO NEW COM 949746101 341 6,818 SH   SOLE   341 0 0
AEROJET ROCKETDYNE HLDGS INC C OM COM 007800105 339 8,700 SH   SOLE   339 0 0
PAYCHEX INC COM 704326107 338 2,471 SH   SOLE   338 0 0
PERMIAN BASIN ROYALTY TR COM 714236106 337 25,400 SH   SOLE   337 0 0
ALCOA CORP. COM 013872106 328 3,567 SH   SOLE   328 0 0
CALERES INC. COM 129500104 325 16,500 SH   SOLE   325 0 0
XEROX CORP COM 984121103 324 15,858 SH   SOLE   324 0 0
ASHLAND INC COM 044186104 317 3,200 SH   SOLE   317 0 0
GLOBAL PAYMENTS INC. COM 37940X102 316 2,300 SH   SOLE   316 0 0
INTERNATIONAL PAPER CO COM 460146103 312 6,738 SH   SOLE   312 0 0
BECTON DICKINSON & CO COM 075887109 307 1,140 SH   SOLE   307 0 0
US BANCORP DEL COM 902973304 303 5,500 SH   SOLE   303 0 0
FLUOR CORPORATION COM 343412102 292 10,000 SH   SOLE   292 0 0
HUNTINGTON BANCSHARES INC COM 446150104 292 19,618 SH   SOLE   292 0 0
FIFTH THIRD BANCORP COM 316773100 289 6,531 SH   SOLE   289 0 0
EXPEDITORS INTL WASH COM 302130109 283 2,700 SH   SOLE   283 0 0
OTIS WORLDWIDE CORP. COM 68902V107 282 3,628 SH   SOLE   282 0 0
NUVEEN QUALITY MUNICIPAL COM 67066V101 276 20,835 SH   SOLE   276 0 0
ST JOE COMPANY COM 790148100 273 4,588 SH   SOLE   273 0 0
KEURIG DR PEPPER INC. COM 49271V100 272 7,150 SH   SOLE   272 0 0
BAKER HUGHES CO. COM 05722G100 261 7,000 SH   SOLE   261 0 0
APACHE CORP COM 03743Q108 259 6,300 SH   SOLE   259 0 0
KIMCO REALTY CORP COM 49446R109 252 10,106 SH   SOLE   252 0 0
MUELLER WATER PRODUCTS COM 624758108 251 19,500 SH   SOLE   251 0 0
PAYPAL HOLDINGS INC. COM 70450Y103 246 2,081 SH   SOLE   246 0 0
DEVON ENERGY CP NEW COM 25179M103 245 4,050 SH   SOLE   245 0 0
CME GROUP INC COM COM 12572Q105 243 1,007 SH   SOLE   243 0 0
KINROSS GOLD CORP NEW COM 496902404 243 41,100 SH   SOLE   243 0 0
PARK NATIONAL CORP COM 700658107 236 1,800 SH   SOLE   236 0 0
RALPH LAUREN CORP. COM 751212101 215 1,800 SH   SOLE   215 0 0
KELLOGG COMPANY COM 487836108 212 3,310 SH   SOLE   212 0 0
O REILLY AUTOMOTIVE INC COM 67103H107 208 300 SH   SOLE   208 0 0
PERRIGO CO COM G97822103 207 5,450 SH   SOLE   207 0 0
PAN AMERICAN SILVER COM 697900108 206 7,500 SH   SOLE   206 0 0
COLGATE-PALMOLIVE CO COM 194162103 206 2,700 SH   SOLE   206 0 0
CARMAX INC COM 143130102 203 2,000 SH   SOLE   203 0 0
CADENCE BABCORP. COM 12740C103 201 6,700 SH   SOLE   201 0 0
DNP SELECT INCOME FUND COM 23325P104 172 14,655 SH   SOLE   172 0 0
KOSMOS ENERGY LTD COM 500688106 169 24,500 SH   SOLE   169 0 0
SOLITARIO EXPLORATION COM 8342EP107 159 188,000 SH   SOLE   159 0 0
ORANGE COM 684060106 119 10,000 SH   SOLE   119 0 0
ACCO BRANDS CORP COM COM 00081T108 93 11,500 SH   SOLE   93 0 0
INTEVAC INC COM 461148108 92 16,700 SH   SOLE   92 0 0
FARMER BROS. CO. COM 307675108 92 12,750 SH   SOLE   92 0 0
SOUTHWESTERN ENERGY CO COM 845467109 75 10,700 SH   SOLE   75 0 0
CHICOS FAS INC COM 168615102 68 14,400 SH   SOLE   68 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 53 10,000 SH   SOLE   53 0 0
ORION MARINE GROUP COM 68628V308 39 15,000 SH   SOLE   39 0 0
GREAT PANTHER SILVER COM 39115V101 3 15,000 SH   SOLE   3 0 0
VANGUARD TOTAL STK MKT TST COM 922908769 235 1,020 SH   SOLE   235 0 0