Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
T	AT&T INC	2,620,200	$90.16M	4.8%	$34.41 *	$11.54	+10.5%	Common	00206R102
VZ	VERIZON COMMUNICATIONS INC	1,678,000	$77.56M	4.2%	$46.22 *	$27.19	+0.9%	Common	92343V104
—	GLAXOSMITHKLINE ADR	1,320,500	$53.28M	2.9%	$40.35	$42.90	—	Common	37733W105
CVX	CHEVRON CORP	510,700	$45.94M	2.5%	$89.96 *	$69.55	-15.7%	Common	166764100
—	GENERAL ELECTRIC CO	1,413,400	$44.03M	2.4%	$31.15	$25.52	—	Common	369604103
MO	ALTRIA GROUP INC	734,700	$42.77M	2.3%	$58.21 *	$17.97	+66.2%	Common	02209S103
PG	PROCTER & GAMBLE CO	507,100	$40.27M	2.2%	$79.41 *	$57.58	+4.8%	Common	742718109
BP	BP PLC ADR	1,180,500	$36.9M	2.0%	$31.26	$42.61	-26.6%	Common	055622104
MCY	MERCURY GENERAL CORP	765,200	$35.63M	1.9%	$46.57	$48.49	-4.0%	Common	589400100
MCD	MCDONALDS CORP	299,200	$35.35M	1.9%	$118.14 *	$71.66	+29.2%	Common	580135101
KO	COCA COLA CO	804,300	$34.55M	1.9%	$42.96 *	$27.85	+12.7%	Common	191216100
CINF	CINCINNATI FINANCIAL CORP	579,700	$34.3M	1.8%	$59.17 *	$34.98	+29.4%	Common	172062101
COP	CONOCOPHILIPS	729,200	$34.05M	1.8%	$46.69 *	$47.63	-27.9%	Common	20825C104
AJG	GALLAGHER ARTHUR J	778,400	$31.87M	1.7%	$40.94 *	$36.64	-5.9%	Common	363576109
INTC	INTEL CORP	922,900	$31.79M	1.7%	$34.45 *	$19.05	+42.9%	Common	458140100
—	ROYAL DUTCH SHELL ADR	681,300	$31.37M	1.7%	$46.04	$69.21	—	Common	780259107
NUE	NUCOR CORP	769,500	$31.01M	1.7%	$40.30 *	$36.25	-11.4%	Common	670346105
PEP	PEPSICO INC	301,200	$30.1M	1.6%	$99.92 *	$62.22	+18.8%	Common	713448108
PM	PHILIP MORRIS INTERNATIONAL INC	338,200	$29.73M	1.6%	$87.91 *	$48.47	+10.4%	Common	718172109
PFE	PFIZER INC	909,500	$29.36M	1.6%	$32.28 *	$17.82	+11.7%	Common	717081103
JNJ	JOHNSON & JOHNSON	281,800	$28.95M	1.6%	$102.72 *	$69.14	+12.6%	Common	478160104
LEG	LEGGETT & PLATT INC	642,500	$27M	1.4%	$42.02	$30.78	+36.5%	Common	524660107
—	DOW CHEMICAL COMPANY	524,000	$26.98M	1.4%	$51.48	$47.09	—	Common	260543103
KMB	KIMBERLY CLARK CORP	210,700	$26.82M	1.4%	$127.30 *	$68.90	+31.5%	Common	494368103
CSCO	CISCO SYSTEMS	966,400	$26.24M	1.4%	$27.16 *	$17.12	+16.0%	Common	17275R102
IBM	IBM CORP	190,000	$26.15M	1.4%	$137.62 *	$95.63	-10.0%	Common	459200101
SYY	SYSCO CORP	627,400	$25.72M	1.4%	$41.00 *	$25.72	+22.4%	Common	871829107
CAT	CATERPILLAR INC	377,100	$25.63M	1.4%	$67.96 *	$64.91	-18.0%	Common	149123101
EMR	EMERSON ELECTRIC CO	520,500	$24.9M	1.3%	$47.83 *	$42.64	-13.6%	Common	291011104
DE	DEERE & CO	304,040	$23.19M	1.2%	$76.27 *	$67.94	-5.0%	Common	244199105
XOM	EXXON MOBIL CORP	274,100	$21.37M	1.1%	$77.95 *	$56.31	-10.7%	Common	30231G102
ERIE	ERIE INDEMNITY CO CL A	222,600	$21.29M	1.1%	$95.64 *	$57.16	+34.7%	Common	29530P102
MDU	MDU RESOURCES GROUP INC	1,120,500	$20.53M	1.1%	$18.32 *	$5.82	-11.1%	Common	552690109
—	QUESTAR CORP	971,500	$18.93M	1.0%	$19.48	$22.74	—	Common	748356102
LMT	LOCKHEED MARTIN	86,300	$18.74M	1.0%	$217.15 *	$97.17	+71.1%	Common	539830109
WM	WASTE MANAGEMENT INC	350,700	$18.72M	1.0%	$53.37 *	$35.34	+25.4%	Common	94106L109
QCOM	QUALCOMM INC	366,000	$18.3M	1.0%	$49.99 *	$42.22	-10.7%	Common	747525103
LLY	LILLY ELI & CO	209,700	$17.67M	0.9%	$84.26 *	$40.80	+73.9%	Common	532457108
MRK	MERCK & CO INC	331,500	$17.51M	0.9%	$52.82 *	$33.57	+10.2%	Common	58933Y105
—	RAYTHEON CO	139,900	$17.42M	0.9%	$124.53	$91.02	—	Common	755111507
ED	CONSOLIDATED EDISON INC	264,286	$16.99M	0.9%	$64.27 *	$35.65	+25.8%	Common	209115104
CLX	CLOROX COMPANY	127,700	$16.2M	0.9%	$126.83 *	$64.50	+48.0%	Common	189054109
GIS	GENERAL MILLS INC	280,700	$16.18M	0.9%	$57.66 *	$35.56	+14.1%	Common	370334104
—	PIEDMONT NATURAL GAS CO	279,300	$15.93M	0.9%	$57.02	$33.17	—	Common	720186105
GPC	GENUINE PARTS CO	184,000	$15.8M	0.8%	$85.89 *	$60.62	+6.2%	Common	372460105
MUR	MURPHY OIL CORP	701,500	$15.75M	0.8%	$22.45 *	$20.07	-23.3%	Common	626717102
HP	HELMERICH & PAYNE INC	293,100	$15.7M	0.8%	$53.55	$71.51	-25.1%	Common	423452101
—	DU PONT E I DE NEMOURS	233,000	$15.52M	0.8%	$66.60	$61.12	—	Common	263534109
TGT	TARGET CORP	213,500	$15.5M	0.8%	$72.61 *	$41.93	+28.7%	Common	87612E106
WEC	WEC ENERGY GROUP INC	295,151	$15.14M	0.8%	$51.31 *	$33.96	+9.3%	Common	92939U106
MMM	3M CO	97,800	$14.73M	0.8%	$150.64 *	$74.20	+22.1%	Common	88579Y101
—	TECO ENERGY INC	548,600	$14.62M	0.8%	$26.65	$17.26	—	Common	872375100
—	NATIONAL OILWELL VARCO INC	432,000	$14.47M	0.8%	$33.49	$38.05	—	Common	637071101
NSC	NORFOLK SOUTHERN CO	165,200	$13.97M	0.7%	$84.59 *	$65.46	+4.6%	Common	655844108
PPL	PPL CORP	408,900	$13.96M	0.7%	$34.13 *	$17.88	+22.5%	Common	69351T106
UPS	UNITED PARCEL SERVICES INC	144,800	$13.93M	0.7%	$96.23 *	$66.10	+1.0%	Common	911312106
—	KELLOGG CO	192,500	$13.91M	0.7%	$72.27 *	$38.97	+22.4%	Common	487836108
SON	SONOCO PRODUCTS	339,800	$13.89M	0.7%	$40.87 *	$27.16	+7.6%	Common	835495102
—	WGL HOLDINGS INC	218,600	$13.77M	0.7%	$62.99	$40.86	—	Common	92924F106
BMY	BRISTOL MYERS SQUIBB CO	193,800	$13.33M	0.7%	$68.79 *	$33.82	+44.5%	Common	110122108
—	NORTHWEST NATURAL GAS CO	263,300	$13.33M	0.7%	$50.61	$43.91	—	Common	667655104
—	EMPIRE DISTRICT ELECTRIC	467,500	$13.12M	0.7%	$28.07	$22.80	—	Common	291641108
CNP	CENTERPOINT ENERGY INC	705,000	$12.94M	0.7%	$18.36 *	$13.39	-1.5%	Common	15189T107
—	SCANA CORP	213,800	$12.93M	0.7%	$60.49	$48.69	—	Common	80589M102
XEL	XCEL ENERGY CORP	349,900	$12.56M	0.7%	$35.91 *	$19.62	+34.4%	Common	98389B100
ETN	EATON CORP	241,000	$12.54M	0.7%	$52.04 *	$49.53	-16.2%	Common	G29183103
AEE	AMEREN CORP	282,442	$12.21M	0.7%	$43.23 *	$25.34	+27.2%	Common	023608102
SO	SOUTHERN COMPANY	250,500	$11.72M	0.6%	$46.79 *	$26.18	+17.5%	Common	842587107
—	WESTAR ENERGY INC	274,700	$11.65M	0.6%	$42.41	$32.34	—	Common	95709T100
D	DOMINION RESOURCES INC	163,500	$11.06M	0.6%	$67.64 *	$41.11	+6.8%	Common	25746U109
ABBV	ABBVIE INC	182,000	$10.78M	0.6%	$59.24 *	$35.53	+10.0%	Common	00287Y109
DUK	DUKE ENERGY CORP	150,095	$10.71M	0.6%	$71.39 *	$43.54	+8.7%	Common	26441C204
BKH	BLACK HILLS CORP	227,800	$10.58M	0.6%	$46.43 *	$31.75	+1.8%	Common	092113109
—	AVANGRID INC	274,900	$10.56M	0.6%	$38.40	$38.40	—	Common	05351W103
PAYX	PAYCHEX INC	194,800	$10.3M	0.6%	$52.89 *	$34.37	+13.8%	Common	704326107
LNT	ALLIANT ENERGY CORP	162,000	$10.12M	0.5%	$62.45 *	$19.68	+15.6%	Common	018802108
AVA	AVISTA CORP	277,500	$9.815M	0.5%	$35.37 *	$18.40	+28.3%	Common	05379B107
BA	BOEING CO	66,600	$9.63M	0.5%	$144.59 *	$110.94	+16.9%	Common	097023105
PEG	PUBLIC SERVICE ENTERPRISE GRP INC	248,500	$9.614M	0.5%	$38.69 *	$23.26	+17.8%	Common	744573106
—	LACLEDE GROUP INC	160,000	$9.506M	0.5%	$59.41	$45.35	—	Common	505597104
—	AGL RESOURCES INC	147,700	$9.425M	0.5%	$63.81	$47.73	—	Common	001204106
—	GREAT PLAINS ENERGY INC	339,000	$9.258M	0.5%	$27.31	$27.31	—	Common	391164100
AEP	AMERICAN ELECTRIC POWER CO INC	153,800	$8.962M	0.5%	$58.27 *	$30.69	+33.4%	Common	025537101
—	VECTREN CORP	179,044	$7.595M	0.4%	$42.42	$35.77	—	Common	92240G101
—	ALLETE INC	145,600	$7.401M	0.4%	$50.83	$49.36	—	Common	018522300
—	PEPCO HOLDING INC	279,501	$7.27M	0.4%	$26.01	$19.19	—	Common	713291102
—	NEW YORK COMMUNITY BANCORP INC	440,000	$7.181M	0.4%	$16.32	$16.99	—	Common	649445103
—	BEMIS CO	155,351	$6.943M	0.4%	$44.69	$40.65	—	Common	081437105
TXN	TEXAS INSTRUMENTS INC	80,000	$4.385M	0.2%	$54.81 *	$37.35	+11.4%	Common	882508104