Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
T	AT&T INC	2,880,700	$109M	3.5%	$37.73 *	$11.94	+29.0%	Common	00206R102
VZ	VERIZON COMMUNICATIONS	2,086,400	$93.18M	3.0%	$44.66 *	$27.97	+1.3%	Common	92343V104
CVX	CHEVRON CORP	782,600	$81.65M	2.7%	$104.33 *	$68.44	+5.9%	Common	166764100
CAT	CATERPILLAR INC	755,100	$81.14M	2.6%	$107.46 *	$62.51	+42.5%	Common	149123101
PM	PHILIP MORRIS INTERNATIONAL	570,200	$66.97M	2.2%	$117.45 *	$53.71	+41.3%	Common	718172109
—	ROYAL DUTCH SHELL ADR	1,221,800	$66.5M	2.2%	$54.43	$64.07	—	Common	780259107
—	DOW CHEMICAL COMPANY	1,048,400	$66.12M	2.2%	$63.07	$48.39	—	Common	260543103
BP	BP PLC ADR	1,900,000	$65.83M	2.1%	$34.65	$39.26	-11.7%	Common	055622104
IBM	IBM CORP	420,000	$64.61M	2.1%	$153.83 *	$96.81	+5.0%	Common	459200101
MCD	MCDONALDS CORP	408,200	$62.52M	2.0%	$153.16 *	$77.77	+61.3%	Common	580135101
—	GLAXOSMITHKLINE ADR	1,320,500	$56.94M	1.9%	$43.12	$42.90	—	Common	37733W105
KO	COCA COLA CO	1,268,800	$56.91M	1.9%	$44.85 *	$29.56	+16.4%	Common	191216100
XOM	EXXON MOBIL CORP	693,000	$55.95M	1.8%	$80.73 *	$57.14	-3.8%	Common	30231G102
—	GENERAL ELECTRIC CO	1,932,000	$52.18M	1.7%	$27.01	$25.85	—	Common	369604103
AJG	GALLAGHER ARTHUR J	904,400	$51.78M	1.7%	$57.25 *	$36.24	+39.4%	Common	363576109
PFE	PFIZER INC	1,538,500	$51.68M	1.7%	$33.59 *	$19.36	+13.2%	Common	717081103
NUE	NUCOR CORP	879,500	$50.9M	1.7%	$57.87 *	$36.87	+30.5%	Common	670346105
PG	PROCTER & GAMBLE CO	564,100	$49.16M	1.6%	$87.15 *	$58.28	+19.2%	Common	742718109
DE	DEERE & CO	394,040	$48.7M	1.6%	$123.59 *	$68.35	+59.1%	Common	244199105
CSCO	CISCO SYSTEMS	1,554,600	$48.66M	1.6%	$31.30 *	$19.17	+25.6%	Common	17275R102
MCY	MERCURY GENERAL CORP	860,700	$46.48M	1.5%	$54.00	$48.64	+11.0%	Common	589400100
CMI	CUMMINS INC	284,000	$46.07M	1.5%	$162.22 *	$79.97	+62.3%	Common	231021106
ED	CONSOLIDATED EDISON INC	545,286	$44.07M	1.4%	$80.82 *	$45.70	+30.3%	Common	209115104
EMR	EMERSON ELECTRIC CO	705,500	$42.06M	1.4%	$59.62 *	$41.61	+16.4%	Common	291011104
CINF	CINCINNATI FINANCIAL CORP	579,700	$42M	1.4%	$72.45 *	$34.98	+65.0%	Common	172062101
BA	BOEING CO	212,000	$41.92M	1.4%	$197.75 *	$120.78	+54.3%	Common	097023105
INTC	INTEL CORP	1,211,000	$40.86M	1.3%	$33.74 *	$21.21	+31.8%	Common	458140100
JNJ	JOHNSON & JOHNSON	281,800	$37.28M	1.2%	$132.29 *	$69.14	+51.1%	Common	478160104
KMB	KIMBERLY CLARK CORP	282,700	$36.5M	1.2%	$129.11 *	$72.88	+31.7%	Common	494368103
DUK	DUKE ENERGY CORP	427,495	$35.73M	1.2%	$83.59 *	$50.67	+16.6%	Common	26441C204
QCOM	QUALCOMM INC	646,000	$35.67M	1.2%	$55.22 *	$41.39	+6.3%	Common	747525103
PFG	PRINCIPAL FINANCIAL GROUP	555,000	$35.56M	1.2%	$64.07 *	$31.35	+47.8%	Common	74251V102
PEP	PEPSICO INC	301,200	$34.79M	1.1%	$115.49 *	$62.22	+43.3%	Common	713448108
MDU	MDU RESOURCES GROUP INC	1,300,000	$34.06M	1.1%	$26.20 *	$5.71	+35.8%	Common	552690109
MO	ALTRIA GROUP INC	457,000	$34.03M	1.1%	$74.47 *	$34.70	+16.0%	Common	02209S103
PPL	PPL CORP	844,000	$32.63M	1.1%	$38.66 *	$20.71	+27.7%	Common	69351T106
AZN	ASTRAZENECA PLC	951,000	$32.42M	1.1%	$34.09	$31.16	—	Common	046353108
PSX	PHILLIPS 66	392,000	$32.41M	1.1%	$82.69 *	$55.69	+6.9%	Common	718546104
MET	METLIFE INC	582,400	$32M	1.0%	$54.94 *	$27.71	+32.3%	Common	59156R108
SYY	SYSCO CORP	627,400	$31.58M	1.0%	$50.33 *	$25.72	+56.3%	Common	871829107
HP	HELMERICH & PAYNE INC	567,500	$30.84M	1.0%	$54.34	$66.56	-18.4%	Common	423452101
LEG	LEGGETT & PLATT INC	581,500	$30.55M	1.0%	$52.53	$30.78	+70.6%	Common	524660107
ABBV	ABBVIE INC	418,200	$30.32M	1.0%	$72.51 *	$37.06	+36.8%	Common	00287Y109
CNP	CENTERPOINT ENERGY INC	1,091,000	$29.87M	1.0%	$27.38 *	$13.86	+52.0%	Common	15189T107
ETN	EATON CORP	378,000	$29.42M	1.0%	$77.83 *	$48.34	+35.5%	Common	G29183103
MRK	MERCK & CO INC	451,500	$28.94M	0.9%	$64.09 *	$34.50	+36.3%	Common	58933Y105
D	DOMINION RESOURCES INC	371,100	$28.44M	0.9%	$76.63 *	$45.52	+15.8%	Common	25746U109
ERIE	ERIE INDEMNITY CO CL A	222,600	$27.84M	0.9%	$125.07 *	$57.16	+82.6%	Common	29530P102
SO	SOUTHERN COMPANY	575,500	$27.55M	0.9%	$47.88 *	$30.73	+9.6%	Common	842587107
PEG	PUBLIC SERVICE ENTERPRISE	604,500	$26M	0.8%	$43.01 *	$27.99	+15.2%	Common	744573106
GIS	GENERAL MILLS INC	466,700	$25.86M	0.8%	$55.40 *	$38.79	+5.1%	Common	370334104
MMM	3M CO	123,800	$25.77M	0.8%	$208.19 *	$78.10	+66.6%	Common	88579Y101
WM	WASTE MANAGEMENT INC	350,700	$25.72M	0.8%	$73.35 *	$35.34	+79.0%	Common	94106L109
TROW	T ROWE PRICE GROUP INC	336,800	$24.99M	0.8%	$74.21 *	$51.51	+5.2%	Common	74144T108
XEL	XCEL ENERGY CORP	541,000	$24.82M	0.8%	$45.88 *	$23.56	+50.2%	Common	98389B100
LLY	LILLY ELI & CO	300,000	$24.69M	0.8%	$82.30 *	$64.22	+12.3%	Common	532457108
UPS	UNITED PARCEL SERVICES INC	217,700	$24.07M	0.8%	$110.59 *	$68.53	+17.1%	Common	911312106
NSC	NORFOLK SOUTHERN CO	189,200	$23.03M	0.8%	$121.70 *	$64.96	+57.7%	Common	655844108
GWW	GRAINGER W W INC	127,000	$22.93M	0.7%	$180.53 *	$166.15	-4.1%	Common	384802104
GPC	GENUINE PARTS CO	228,000	$21.15M	0.7%	$92.76 *	$62.71	+15.6%	Common	372460105
AEE	AMEREN CORP	383,442	$20.96M	0.7%	$54.67 *	$28.89	+48.5%	Common	023608102
FLO	FLOWERS FOODS INC	1,210,000	$20.95M	0.7%	$17.31 *	$11.44	+8.2%	Common	343498101
—	SCANA CORP	305,800	$20.49M	0.7%	$67.01	$54.20	—	Common	80589M102
MPC	MARATHON PETROLEUM GROUP	389,000	$20.36M	0.7%	$52.33 *	$29.10	+38.0%	Common	56585A102
CF	CF INDUSTRIES HOLDINGS INC	728,000	$20.36M	0.7%	$27.96 *	$18.89	+18.9%	Common	125269100
WEC	WEC ENERGY GROUP INC	313,151	$19.22M	0.6%	$61.38 *	$34.35	+36.0%	Common	92939U106
—	WGL HOLDINGS INC	218,600	$18.24M	0.6%	$83.43	$40.86	—	Common	92924F106
SON	SONOCO PRODUCTS	351,800	$18.09M	0.6%	$51.42 *	$27.28	+41.1%	Common	835495102
UNP	UNION PACIFIC CORP	165,000	$17.97M	0.6%	$108.91 *	$61.97	+45.7%	Common	907818108
—	EATON VANCE CORP	378,000	$17.89M	0.6%	$47.32	$33.52	—	Common	278265103
ADM	ARCHER DANIELS MIDLAND	432,000	$17.88M	0.6%	$41.38 *	$33.24	-3.3%	Common	039483102
—	GREAT PLAINS ENERGY INC	600,000	$17.57M	0.6%	$29.28	$27.71	—	Common	391164100
—	WESTAR ENERGY INC	330,000	$17.5M	0.6%	$53.02	$35.24	—	Common	95709T100
VLO	VALERO ENERGY CORP	256,000	$17.27M	0.6%	$67.46 *	$46.68	+3.1%	Common	91913Y100
—	SOUTH JERSEY INDUSTRIES	485,000	$16.57M	0.5%	$34.17	$28.45	—	Common	838518108
VFC	VF CORP	285,500	$16.45M	0.5%	$57.60 *	$49.52	+9.5%	Common	918204108
—	HOLLYFRONTIER CORP	588,000	$16.15M	0.5%	$27.47	$28.06	—	Common	436106108
—	NORTHWEST NATURAL GAS CO	263,300	$15.76M	0.5%	$59.85	$43.91	—	Common	667655104
PAYX	PAYCHEX INC	274,800	$15.65M	0.5%	$56.94 *	$36.85	+19.9%	Common	704326107
—	ALLETE INC	207,100	$14.85M	0.5%	$71.68	$49.84	—	Common	018522300
ETR	ENTERGY CORP	187,000	$14.36M	0.5%	$76.77 *	$26.14	+6.4%	Common	29364G103
BMY	BRISTOL MYERS SQUIBB CO	250,000	$13.93M	0.5%	$55.72 *	$39.93	+2.3%	Common	110122108
TXN	TEXAS INSTRUMENTS INC	180,000	$13.85M	0.5%	$76.93 *	$39.11	+55.2%	Common	882508104
—	KELLOGG CO	192,500	$13.37M	0.4%	$69.46 *	$38.97	+22.9%	Common	487836108
LNT	ALLIANT ENERGY CORP	324,000	$13.02M	0.4%	$40.17 *	$23.57	+30.5%	Common	018802108
AEP	AMERICAN ELECTRIC POWER	169,800	$11.8M	0.4%	$69.47 *	$31.91	+61.3%	Common	025537101
AVA	AVISTA CORP	277,500	$11.78M	0.4%	$42.46 *	$18.40	+62.3%	Common	05379B107
SR	SPIRE INC	160,000	$11.16M	0.4%	$69.75	$70.84	—	Common	84857L101
—	VECTREN CORP	179,044	$10.46M	0.3%	$58.44	$35.77	—	Common	92240G101
OGE	OGE ENERGY CORP	288,000	$10.02M	0.3%	$34.79	$29.67	+17.3%	Common	670837103
UBSI	UNITED BANKSHARES INC	192,000	$7.526M	0.2%	$39.20	$38.60	+1.5%	Common	909907107
—	BALDWIN & LYONS INC	266,000	$6.517M	0.2%	$24.50	$24.61	—	Common	057755209
—	FEDERATED NATIONAL HOLDING	276,700	$4.427M	0.1%	$16.00	$17.36	—	Common	31422T101
DGICA	DONEGAL GROUP INC	234,000	$3.721M	0.1%	$15.90 *	$10.21	+7.3%	Common	257701201