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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
GRAINGER WW INC COM 384802104   10,978 19,737 SH   SOLE   10,978 0 0
LINDE PLC COM COM G5494J103   9,450 28,972 SH   SOLE   9,450 0 0
EXXON MOBIL CORP COM 30231G102   9,315 84,457 SH   SOLE   9,315 0 0
CHEVRONTEXACO CORP COM 166764100   8,349 46,520 SH   SOLE   8,349 0 0
TRACTOR SUPPLY COMPANY COM 892356106   8,331 37,032 SH   SOLE   8,331 0 0
STARBUCKS CORP COM 855244109   8,050 81,154 SH   SOLE   8,050 0 0
MASTERCARD INC COM 57636Q104   7,460 21,456 SH   SOLE   7,460 0 0
HERSHEY FOODS CORP COM 427866108   7,212 31,147 SH   SOLE   7,212 0 0
AIR PRODUCTS & CHEMICALS COM 009158106   6,701 21,740 SH   SOLE   6,701 0 0
AGILENT TECHNOLOGIES COM 00846U101   6,633 44,324 SH   SOLE   6,633 0 0
AUTO DATA PROCESSING COM 053015103   6,598 27,627 SH   SOLE   6,598 0 0
DEERE & CO COM 244199105   5,579 13,013 SH   SOLE   5,579 0 0
MICROSOFT CORP COM 594918104   5,444 22,704 SH   SOLE   5,444 0 0
PEPSICO INCORPORATED COM 713448108   5,263 29,135 SH   SOLE   5,263 0 0
TEXAS INSTRUMENTS INC COM 882508104   4,774 28,899 SH   SOLE   4,774 0 0
APPLE, INC COM 037833100   4,640 35,718 SH   SOLE   4,640 0 0
JOHNSON & JOHNSON COM 478160104   4,497 25,461 SH   SOLE   4,497 0 0
OLIN CORP NEW COM 680665205   4,161 78,610 SH   SOLE   4,161 0 0
KEYSIGHT TECHNOLOGIES INC COM COM 49338L103   4,147 24,244 SH   SOLE   4,147 0 0
EMERSON ELECTRIC COM 291011104   4,111 42,798 SH   SOLE   4,111 0 0
TRANE TECHNOLOGIES PLC COM G8994E103   3,710 22,073 SH   SOLE   3,710 0 0
ABBOTT LABORATORIES COM 002824100   3,605 32,841 SH   SOLE   3,605 0 0
UNION PACIFIC CORP COM 907818108   3,523 17,016 SH   SOLE   3,523 0 0
MC CORMICK & CO NEW VT COM 579780206   3,452 41,655 SH   SOLE   3,452 0 0
SYSCO CORP. COM 871829107   3,357 43,919 SH   SOLE   3,357 0 0
LAUDER ESTEE CORP CL A COM 518439104   3,255 13,122 SH   SOLE   3,255 0 0
BROWN FORMAN CORP CL B COM 115637209   3,232 49,215 SH   SOLE   3,232 0 0
KIMBERLY-CLARK CORP COM 494368103   2,988 22,012 SH   SOLE   2,988 0 0
EATON CORPORATION COM 278058102   2,883 18,371 SH   SOLE   2,883 0 0
BUNGE COM G16962105   2,822 28,287 SH   SOLE   2,822 0 0
HOME DEPOT INC COM 437076102   2,821 8,933 SH   SOLE   2,821 0 0
APPLIED INDL. TECH. COM 03820C105   2,731 21,670 SH   SOLE   2,731 0 0
MURPHY OIL CORP COM 626717102   2,710 63,020 SH   SOLE   2,710 0 0
ADVANSIX INC COM COM 00773T101   2,597 68,326 SH   SOLE   2,597 0 0
DOW CHEMICAL COM 260557103   2,517 49,951 SH   SOLE   2,517 0 0
SONOCO PRODUCTS INC COM 835495102   2,480 40,850 SH   SOLE   2,480 0 0
MIDDLEBY CORP THE COM 596278101   2,470 18,450 SH   SOLE   2,470 0 0
COSTCO WHOLSALE CORP NEW COM 22160K105   2,465 5,400 SH   SOLE   2,465 0 0
MARATHON PETE CORP COM COM 56585A102   2,446 21,019 SH   SOLE   2,446 0 0
CHESAPEAKE UTIL CORP COM 165303108   2,425 20,522 SH   SOLE   2,425 0 0
CINTAS CORP COM 172908105   2,382 5,276 SH   SOLE   2,382 0 0
INTL FLAVOR & FRAGRANCES COM 459506101   2,381 22,714 SH   SOLE   2,381 0 0
DARDEN RESTURANTS INC COM 237194105   2,379 17,200 SH   SOLE   2,379 0 0
CASEYS GENERAL STORES INC COM 147528103   2,362 10,532 SH   SOLE   2,362 0 0
MERCK & CO INC COM 58933Y105   2,358 21,261 SH   SOLE   2,358 0 0
STERIS PLC COM 859152100   2,336 12,650 SH   SOLE   2,336 0 0
GENERAL MILLS INC COM 370334104   2,293 27,357 SH   SOLE   2,293 0 0
NORFOLK SOUTHERN CORP COM 655844108   2,259 9,168 SH   SOLE   2,259 0 0
HONEYWELL INC. COM 438516106   2,227 10,394 SH   SOLE   2,227 0 0
VALERO ENERGY COM 91913Y100   2,193 17,288 SH   SOLE   2,193 0 0
MURPHY USA INC. COM 626755102   2,192 7,843 SH   SOLE   2,192 0 0
DISNEY WALT HOLDING CO COM 254687106   2,154 24,802 SH   SOLE   2,154 0 0
ALBANY INT'L CORP. COM 012348108   2,139 21,700 SH   SOLE   2,139 0 0
ANALOG DEVICES INC COM 032654105   2,132 13,000 SH   SOLE   2,132 0 0
BROADRIDGE FINANCIAL COM 11133T103   2,113 15,760 SH   SOLE   2,113 0 0
COCA-COLA COMPANY COM 191216100   2,088 32,827 SH   SOLE   2,088 0 0
LOWES COMPANIES INC COM 548661107   2,050 10,290 SH   SOLE   2,050 0 0
PARKER-HANNIFIN CORP COM 701094104   2,026 6,965 SH   SOLE   2,026 0 0
APPLIED MATERIALS INC COM 038222105   2,023 20,775 SH   SOLE   2,023 0 0
CATERPILLAR INC COM 149123101   1,950 8,143 SH   SOLE   1,950 0 0
SCHLUMBERGER LTD F COM 806857108   1,946 36,412 SH   SOLE   1,946 0 0
MINE SAFTEY APPLIANCE CO COM 553498106   1,880 13,040 SH   SOLE   1,880 0 0
GORMAN-RUPP CO COM COM 383082104   1,794 70,049 SH   SOLE   1,794 0 0
ABBVIE INC COM COM 00287Y109   1,762 10,904 SH   SOLE   1,762 0 0
CONOCOPHILLIPS COM 20825C104   1,740 14,752 SH   SOLE   1,740 0 0
AMERICAN EXPRESS CO. COM 025816109   1,736 11,750 SH   SOLE   1,736 0 0
WESTROCK CO COM COM 96145D105   1,692 48,132 SH   SOLE   1,692 0 0
TIMKEN COMPANY COM 887389104   1,632 23,100 SH   SOLE   1,632 0 0
CHUBB CORPORATION COM 171232101   1,622 7,353 SH   SOLE   1,622 0 0
MARATHON OIL CO. COM 565849106   1,600 59,125 SH   SOLE   1,600 0 0
KIRBY CORP COM 497266106   1,590 24,722 SH   SOLE   1,590 0 0
CORTEVA INC COM COM 22052L104   1,562 26,575 SH   SOLE   1,562 0 0
PFIZER INC COM 717081103   1,487 29,023 SH   SOLE   1,487 0 0
NEWMONT GOLDCORP COM 651639106   1,467 31,099 SH   SOLE   1,467 0 0
FRANKLIN ELEC CO INC COM 353514102   1,467 18,400 SH   SOLE   1,467 0 0
ONEOK, INC COM 682680103   1,408 21,445 SH   SOLE   1,408 0 0
METLIFE INC COM 59156R108   1,393 19,250 SH   SOLE   1,393 0 0
PHILLIPS 66 COM COM 718546104   1,388 13,345 SH   SOLE   1,388 0 0
INGEVITY CORP COM COM 45688C107   1,320 18,746 SH   SOLE   1,320 0 0
DU PONT E I DE NEMOUR&CO COM 263534109   1,312 19,129 SH   SOLE   1,312 0 0
THE CHARLES SCHWAB CORP COM 808513105   1,292 15,529 SH   SOLE   1,292 0 0
AVNET INC COM 053807103   1,283 30,875 SH   SOLE   1,283 0 0
ATMOS ENERGY CORP COM 049560105   1,274 11,376 SH   SOLE   1,274 0 0
CELANESE CORP. COM 150870103   1,262 12,350 SH   SOLE   1,262 0 0
FIDELITY NATL INFO SVCS COM 31620M106   1,243 18,331 SH   SOLE   1,243 0 0
STRYKER CORP COM 863667101   1,222 5,000 SH   SOLE   1,222 0 0
CANADIAN PAC LTD NEW COM 13645T100   1,196 16,047 SH   SOLE   1,196 0 0
HESS CORPORATION COM 42809H107   1,191 8,400 SH   SOLE   1,191 0 0
NUTRIEN LTD CO COM COM 67077M108   1,188 16,270 SH   SOLE   1,188 0 0
BRISTOL MYERS SQUIBB CO COM 110122108   1,186 16,484 SH   SOLE   1,186 0 0
ENBRIDGE INC. COM 29250N105   1,136 29,058 SH   SOLE   1,136 0 0
O-I GLASS, INC. COM 690768403   1,111 67,050 SH   SOLE   1,111 0 0
DOVER CORPORATION COM 260003108   1,081 7,988 SH   SOLE   1,081 0 0
CLEVELAND-CLIFFS, INC. COM 185899101   1,033 64,125 SH   SOLE   1,033 0 0
INGERSOLL-RAND COMPANY COM G47791101   1,021 19,551 SH   SOLE   1,021 0 0
ORGANON & CO. COM 68622V106   1,017 36,440 SH   SOLE   1,017 0 0
NORTHERN TRUST CORP COM 665859104   1,013 11,450 SH   SOLE   1,013 0 0
TIMKENSTEEL CORP COM COM 887399103   1,001 55,100 SH   SOLE   1,001 0 0
GENUINE PARTS CO COM COM 372460105   982 5,660 SH   SOLE   982 0 0
3M COMPANY COM 88579Y101   960 8,010 SH   SOLE   960 0 0
PENSKE AUTOMOTIVE GROUP COM 70959W103   919 8,000 SH   SOLE   919 0 0
CSX CORP COM 126408103   917 29,600 SH   SOLE   917 0 0
MARKEL CORP. COM 570535104   902 685 SH   SOLE   902 0 0
COMMERCIAL METALS CO COM 201723103   879 18,200 SH   SOLE   879 0 0
FRANCO NEVADA CORP. COM 351858105   876 6,425 SH   SOLE   876 0 0
COMERICA INC. COM 200340107   868 12,990 SH   SOLE   868 0 0
STEEL DYNAMICS INC COM 858119100   840 8,600 SH   SOLE   840 0 0
MOSAIC CO NEW COM 61945C103   831 18,950 SH   SOLE   831 0 0
US STEEL CORP. COM 912909108   823 32,875 SH   SOLE   823 0 0
LILLY ELI & COMPANY COM 532457108   823 2,250 SH   SOLE   823 0 0
SPIRE COM 84857L101   809 11,750 SH   SOLE   809 0 0
ALLEGION PUBLIC LTD. CO. COM G0176J109   801 7,618 SH   SOLE   801 0 0
SHERWIN WILLIAMS CO COM 824348106   783 3,300 SH   SOLE   783 0 0
GOODYEAR TIRE & RUBBER COM 382550101   759 74,867 SH   SOLE   759 0 0
ALLEGHENY TECH INC COM 01741R102   758 25,400 SH   SOLE   758 0 0
RAYTHEON TECHNOLOGIES CO. COM 75513E101   748 7,420 SH   SOLE   748 0 0
BRIGHTHOUSE FINL INC COM COM 10922N103   748 14,600 SH   SOLE   748 0 0
SCHWAB US TIPS ETF COM 808524870   725 14,000 SH   SOLE   725 0 0
VERIZON COMM COM 92343V104   705 17,911 SH   SOLE   705 0 0
CORNING INC. COM 219350105   693 21,700 SH   SOLE   693 0 0
OCCIDENTAL PETE CORP COM 674599105   685 10,889 SH   SOLE   685 0 0
COTERRA ENERGY INC. COM 127097103   676 27,514 SH   SOLE   676 0 0
HELMERICH & PAYNE INC COM 423452101   675 13,625 SH   SOLE   675 0 0
DUKE ENERGY CORPORATION COM 26441C105   667 6,485 SH   SOLE   667 0 0
PERMIAN BASIN ROYALTY TR COM 714236106   639 25,400 SH   SOLE   639 0 0
MACYS INC. COM 55616P104   630 30,550 SH   SOLE   630 0 0
AMERICAN STATES WATER CO COM 029899101   629 6,800 SH   SOLE   629 0 0
INTERCONTINENTAL EXCHANGE COM 45866F104   615 6,000 SH   SOLE   615 0 0
DOMINION RESOURCES INC. COM 25746U109   599 9,775 SH   SOLE   599 0 0
ARTESIAN RES CORP CLA COM 043113208   574 9,813 SH   SOLE   574 0 0
BANK OF NEW YORK CO INC COM 064058100   573 12,600 SH   SOLE   573 0 0
EASTMAN CHEMICAL COM 277432100   570 7,000 SH   SOLE   570 0 0
SPROUTS FARMERS MKT COM 85208M102   569 17,600 SH   SOLE   569 0 0
KINDER MORGAN INC COM 49456B101   567 31,368 SH   SOLE   567 0 0
NEXTERA ENERGY INC COM 65339F101   559 6,692 SH   SOLE   559 0 0
SHELL PLC. COM 780259305   545 9,573 SH   SOLE   545 0 0
PACCAR INC COM 693718108   544 5,500 SH   SOLE   544 0 0
MATIV HLDGS. INC. COM 808541106   544 26,043 SH   SOLE   544 0 0
OLD REPUBLIC INTL CORP COM 680223104   512 21,233 SH   SOLE   512 0 0
AMGEN INC COM 031162100   493 1,880 SH   SOLE   493 0 0
AEROJET ROCKETDYNE HLDGS INC C OM COM 007800105   486 8,700 SH   SOLE   486 0 0
STANLEY BLACK & DECKER INC. COM 854502101   484 6,445 SH   SOLE   484 0 0
ASTRAZENECA PLC ADR COM 046353108   477 7,046 SH   SOLE   477 0 0
DIAMONDBACK ENERGY COM 25278X109   472 3,457 SH   SOLE   472 0 0
VIATRIS INC. COM 92556V106   468 42,070 SH   SOLE   468 0 0
NETAPP INC. COM 64110D104   462 7,700 SH   SOLE   462 0 0
HF SINCLAIR CORP. COM 403949100   456 8,800 SH   SOLE   456 0 0
ALAMOS GOLD INC. COM 011532108   454 45,000 SH   SOLE   454 0 0
OVINTIV INC. COM 69047Q102   441 8,700 SH   SOLE   441 0 0
IMPERIAL OIL LTD COM 453038408   438 9,000 SH   SOLE   438 0 0
NO EUROPEAN OIL TR COM 659310106   433 34,700 SH   SOLE   433 0 0
TRANSDIGM GROUP INC. COM 893641100   431 685 SH   SOLE   431 0 0
BP PLC COM 055622104   425 12,192 SH   SOLE   425 0 0
MATSON INC COM COM 57686G105   425 6,800 SH   SOLE   425 0 0
GAP INC COM 364760108   406 36,042 SH   SOLE   406 0 0
VALVOLINE INC. COM 92047W101   404 12,400 SH   SOLE   404 0 0
CHEMOURS COMPANY COM 163851108   398 13,018 SH   SOLE   398 0 0
AVERY DENNISON CORP COM 053611109   398 2,200 SH   SOLE   398 0 0
INTL BUSINESS MACHINES COM 459200101   397 2,822 SH   SOLE   397 0 0
DISCOVER FINL SVCS COM COM 254709108   391 4,000 SH   SOLE   391 0 0
CULLEN FROST BANKERS COM 229899109   387 2,900 SH   SOLE   387 0 0
CHURCHILL DOWNS INC KY COM 171484108   380 1,800 SH   SOLE   380 0 0
TRANSOCEAN SEDCO FOREX COM H8817H100   379 83,234 SH   SOLE   379 0 0
KROGER CO COM 501044101   374 8,400 SH   SOLE   374 0 0
CALERES INC. COM 129500104   367 16,500 SH   SOLE   367 0 0
Prosperity Bancshare COM 743606105   361 4,973 SH   SOLE   361 0 0
ONE GAS INC COM COM 68235P108   356 4,708 SH   SOLE   356 0 0
ANGLOGOLD LTD COM 035128206   353 18,188 SH   SOLE   353 0 0
HALLIBURTON COMPANY COM 406216101   349 8,870 SH   SOLE   349 0 0
FLUOR CORPORATION COM 343412102   346 10,000 SH   SOLE   346 0 0
AMER ELECTRIC PWR CO INC COM 025537101   346 3,645 SH   SOLE   346 0 0
ASHLAND INC COM 044186104   344 3,200 SH   SOLE   344 0 0
AGNICO-EAGLE MINES LTD COM 008474108   334 6,425 SH   SOLE   334 0 0
REGIONS FINANCIAL CP NEW COM 7591EP100   328 15,230 SH   SOLE   328 0 0
KNOWLES CORP COM COM 49926D109   324 19,744 SH   SOLE   324 0 0
PIONEER NATURAL RES CO COM 723787107   319 1,400 SH   SOLE   319 0 0
BARRICK GOLD COM 067901108   316 18,400 SH   SOLE   316 0 0
CARRIER GLOBAL CORP. COM 14448C104   308 7,481 SH   SOLE   308 0 0
ZIONS BANCORPORATION COM COM 989701107   299 6,100 SH   SOLE   299 0 0
APACHE CORP COM 03743Q108   294 6,300 SH   SOLE   294 0 0
ZOETIS INC. COM 98978V103   293 2,000 SH   SOLE   293 0 0
BECTON DICKINSON & CO COM 075887109   289 1,140 SH   SOLE   289 0 0
INTEL COM 458140100   288 10,918 SH   SOLE   288 0 0
FORD MOTOR COMPANY COM 345370860   286 24,650 SH   SOLE   286 0 0
PNC BANK CORP COM 693475105   285 1,810 SH   SOLE   285 0 0
KEYCORP COM 493267108   285 16,366 SH   SOLE   285 0 0
PAYCHEX INC COM 704326107   284 2,466 SH   SOLE   284 0 0
OTIS WORLDWIDE CORP. COM 68902V107   284 3,628 SH   SOLE   284 0 0
WELLS FARGO & CO NEW COM 949746101   281 6,818 SH   SOLE   281 0 0
EXPEDITORS INTL WASH COM 302130109   280 2,700 SH   SOLE   280 0 0
CALAVO GROWERS INC COM 128246105   279 9,500 SH   SOLE   279 0 0
HUNTINGTON BANCSHARES INC COM 446150104   276 19,618 SH   SOLE   276 0 0
PARK NATIONAL CORP COM 700658107   253 1,800 SH   SOLE   253 0 0
O REILLY AUTOMOTIVE INC COM 67103H107   253 300 SH   SOLE   253 0 0
DEVON ENERGY CP NEW COM 25179M103   249 4,050 SH   SOLE   249 0 0
US BANCORP DEL COM 902973304   239 5,500 SH   SOLE   239 0 0
NUVEEN QUALITY MUNICIPAL COM 67066V101   239 20,308 SH   SOLE   239 0 0
KELLOGG COMPANY COM 487836108   235 3,310 SH   SOLE   235 0 0
TEX PAC LAND SUB CTF COM 88262P102   234 100 SH   SOLE   234 0 0
PREFORMED LINE PRODS INC COM 740444104   233 2,800 SH   SOLE   233 0 0
GLOBAL PAYMENTS INC. COM 37940X102   228 2,300 SH   SOLE   228 0 0
KEURIG DR PEPPER INC. COM 49271V100   228 6,400 SH   SOLE   228 0 0
DENNYS CORP COM 24869P104   225 24,500 SH   SOLE   225 0 0
INTERNATIONAL PAPER CO COM 460146103   223 6,463 SH   SOLE   223 0 0
XEROX CORP COM 984121103   218 14,958 SH   SOLE   218 0 0
BADGER METER INC COM 056525108   218 2,000 SH   SOLE   218 0 0
COLGATE-PALMOLIVE CO COM 194162103   212 2,700 SH   SOLE   212 0 0
FIFTH THIRD BANCORP COM 316773100   211 6,456 SH   SOLE   211 0 0
SJW CORP COM 784305104   211 2,600 SH   SOLE   211 0 0
MUELLER WATER PRODUCTS COM 624758108   209 19,500 SH   SOLE   209 0 0
BAKER HUGHES CO. COM 05722G100   206 7,000 SH   SOLE   206 0 0
KINROSS GOLD CORP NEW COM 496902404   168 41,100 SH   SOLE   168 0 0
DNP SELECT INCOME FUND COM 23325P104   164 14,655 SH   SOLE   164 0 0
KOSMOS ENERGY LTD COM 500688106   155 24,500 SH   SOLE   155 0 0
SOLITARIO EXPLORATION COM 8342EP107   116 188,000 SH   SOLE   116 0 0
INTEVAC INC COM 461148108   108 16,700 SH   SOLE   108 0 0
ORANGE COM 684060106   98 10,000 SH   SOLE   98 0 0
CHICOS FAS INC COM 168615102   70 14,400 SH   SOLE   70 0 0
ACCO BRANDS CORP COM COM 00081T108   64 11,500 SH   SOLE   64 0 0
SOUTHWESTERN ENERGY CO COM 845467109   62 10,700 SH   SOLE   62 0 0
FARMER BROS. CO. COM 307675108   58 12,750 SH   SOLE   58 0 0
YAMANA GOLD INC COM 98462Y100   58 10,500 SH   SOLE   58 0 0
AEGON N V ORD AMER REG COM 007924103   50 10,000 SH   SOLE   50 0 0
IAMGOLD CORPORATION COM 450913108   50 19,500 SH   SOLE   50 0 0
ORION MARINE GROUP COM 68628V308   35 15,000 SH   SOLE   35 0 0