Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
XOM	EXXON MOBIL CORP	1,053,200	$91.95M	3.1%	$87.31 *	$53.73	+45.4%	Common	30231G102
CAT	CATERPILLAR INC	548,500	$90M	3.0%	$164.08 *	$113.86	+36.0%	Common	149123101
VZ	VERIZON COMMUNICATIONS INC	2,132,000	$80.95M	2.7%	$37.97 *	$30.29	+0.7%	Common	92343V104
PFE	PFIZER INC	1,831,500	$80.15M	2.7%	$43.76 *	$23.72	+53.7%	Common	717081103
CVX	CHEVRON CORP	542,700	$77.97M	2.6%	$143.67 *	$73.51	+71.0%	Common	166764100
NUE	NUCOR CORP	723,500	$77.41M	2.6%	$106.99 *	$37.40	+172.8%	Common	670346105
KO	COCA COLA CO	1,314,300	$73.63M	2.4%	$56.02 *	$32.35	+57.1%	Common	191216100
QCOM	QUALCOMM INC	642,700	$72.61M	2.4%	$112.98 *	$42.49	+146.8%	Common	747525103
PG	PROCTER & GAMBLE CO	542,500	$68.49M	2.3%	$126.25 *	$59.18	+96.4%	Common	742718109
PEP	PEPSICO INC	415,200	$67.79M	2.3%	$163.26 *	$82.00	+79.2%	Common	713448108
MRK	MERCK & CO INC	769,500	$66.27M	2.2%	$86.12 *	$46.72	+67.1%	Common	58933Y105
DUK	DUKE ENERGY CORP	710,731	$66.11M	2.2%	$93.02 *	$59.29	+37.9%	Common	26441C204
SO	SOUTHERN COMPANY	969,500	$65.93M	2.2%	$68.00 *	$35.42	+70.3%	Common	842587107
AEP	AMERICAN ELECTRIC POWER CO INC	718,800	$62.14M	2.1%	$86.45 *	$60.31	+26.7%	Common	025537101
UPS	UNITED PARCEL SERVICES INC	379,100	$61.24M	2.0%	$161.54 *	$77.55	+77.2%	Common	911312106
HUBB	HUBBELL INC	271,000	$60.43M	2.0%	$223.00 *	$95.19	+123.7%	Common	443510607
MPC	MARATHON PETROLEUM GROUP	596,500	$59.25M	2.0%	$99.33 *	$41.73	+121.6%	Common	56585A102
TXN	TEXAS INSTRUMENTS INC	380,500	$58.89M	2.0%	$154.78 *	$68.78	+103.9%	Common	882508104
MCD	MCDONALDS CORP	248,400	$57.32M	1.9%	$230.74 *	$77.77	+175.2%	Common	580135101
AJG	GALLAGHER ARTHUR J	334,100	$57.2M	1.9%	$171.22 *	$36.24	+358.3%	Common	363576109
PSX	PHILLIPS 66	708,400	$57.18M	1.9%	$80.72 *	$66.33	+8.2%	Common	718546104
CAH	CARDINAL HEALTH INC	846,000	$56.41M	1.9%	$66.68 *	$42.38	+48.2%	Common	14149Y108
GWW	GRAINGER WW INC	115,000	$56.26M	1.9%	$489.19 *	$163.61	+190.1%	Common	384802104
SYY	SYSCO CORP	791,700	$55.98M	1.9%	$70.71 *	$39.24	+63.8%	Common	871829107
GPC	GENUINE PARTS CO	371,500	$55.47M	1.8%	$149.32 *	$68.07	+100.3%	Common	372460105
CSCO	CISCO SYSTEMS	1,380,700	$55.23M	1.8%	$40.00 *	$20.49	+76.3%	Common	17275R102
EMR	EMERSON ELECTRIC CO	744,500	$54.51M	1.8%	$73.22 *	$43.87	+56.4%	Common	291011104
JNJ	JOHNSON & JOHNSON	329,800	$53.88M	1.8%	$163.36 *	$78.13	+89.6%	Common	478160104
PEG	PUBLIC SERVICE ENTERPRISE GRP INC	952,500	$53.56M	1.8%	$56.23 *	$39.73	+26.8%	Common	744573106
KMB	KIMBERLY CLARK CORP	454,000	$51.09M	1.7%	$112.54 *	$80.29	+24.1%	Common	494368103
D	DOMINION RESOURCES INC	736,601	$50.91M	1.7%	$69.11 *	$50.02	+17.6%	Common	25746U109
PAYX	PAYCHEX INC	438,300	$49.18M	1.6%	$112.21 *	$48.35	+110.5%	Common	704326107
CMI	CUMMINS INC	229,500	$46.71M	1.6%	$203.51 *	$87.36	+115.6%	Common	231021106
MSM	MSC INDUSTRIAL DIRECT CO	641,200	$46.69M	1.6%	$72.81	$72.39	+0.6%	Common	553530106
LEG	LEGGETT & PLATT INC	1,356,500	$45.06M	1.5%	$33.22	$37.57	-11.6%	Common	524660107
BMY	BRISTOL MYERS SQUIBB CO	619,000	$44.01M	1.5%	$71.09 *	$38.49	+58.6%	Common	110122108
ITW	ILLINOIS TOOL WORKS	243,000	$43.9M	1.5%	$180.65 *	$113.08	+48.1%	Common	452308109
ETN	EATON CORP	309,700	$41.3M	1.4%	$133.36 *	$48.34	+163.6%	Common	G29183103
ADM	ARCHER DANIELS MIDLAND CO	512,500	$41.23M	1.4%	$80.45 *	$33.35	+118.1%	Common	039483102
MDU	MDU RESOURCES GROUP INC	1,479,500	$40.46M	1.3%	$27.35 *	$6.24	+51.9%	Common	552690109
LMT	LOCKHEED MARTIN	100,800	$38.94M	1.3%	$386.29 *	$311.11	+13.7%	Common	539830109
—	KELLOGG CO	542,000	$37.76M	1.3%	$69.66 *	$45.24	+29.4%	Common	487836108
CINF	CINCINNATI FINANCIAL CORP	412,300	$36.93M	1.2%	$89.57 *	$34.98	+135.5%	Common	172062101
XEL	XCEL ENERGY CORP	541,000	$34.62M	1.1%	$64.00 *	$23.56	+143.3%	Common	98389B100
EVRG	EVERGY INC	573,417	$34.06M	1.1%	$59.40 *	$46.01	+12.3%	Common	30034W106
SON	SONOCO PRODUCTS	587,200	$33.31M	1.1%	$56.73 *	$34.89	+42.8%	Common	835495102
SR	SPIRE INC	523,000	$32.6M	1.1%	$62.33	$73.63	—	Common	84857L101
OGE	OGE ENERGY CORP	862,500	$31.45M	1.0%	$36.46	$33.19	+9.9%	Common	670837103
VLO	VALERO ENERGY CORP	284,500	$30.4M	1.0%	$106.85 *	$60.57	+59.8%	Common	91913Y100
WEC	WEC ENERGY GROUP INC	332,331	$29.72M	1.0%	$89.43 *	$60.02	+32.8%	Common	92939U106
BKH	BLACK HILLS CORP	433,000	$29.33M	1.0%	$67.73 *	$49.83	+16.8%	Common	092113109
—	SOUTH JERSEY INDUSTRIES INC	820,500	$27.42M	0.9%	$33.42	$30.09	—	Common	838518108
—	ALLETE INC	545,100	$27.28M	0.9%	$50.05	$61.47	—	Common	018522300
INTC	INTEL CORP	1,045,300	$26.94M	0.9%	$25.77 *	$21.21	+15.6%	Common	458140100
DOW	DOW INC	546,000	$23.99M	0.8%	$43.93 *	$38.63	-6.2%	Common	260557103
EMN	EASTMAN CHEMICAL CO	330,500	$23.48M	0.8%	$71.05 *	$60.18	+4.1%	Common	277432100
VFC	VF CORP	755,000	$22.58M	0.7%	$29.91	$50.16	-40.4%	Common	918204108
AVA	AVISTA CORP	597,500	$22.14M	0.7%	$37.05 *	$27.55	+14.3%	Common	05379B107
GIS	GENERAL MILLS INC	286,500	$21.95M	0.7%	$76.61 *	$38.12	+78.8%	Common	370334104
MCY	MERCURY GENERAL CORP	562,000	$15.97M	0.5%	$28.42	$63.04	-54.9%	Common	589400100
NWN	NORTHWEST NATURAL HOLDING CO	368,000	$15.96M	0.5%	$43.38	$66.85	-35.1%	Common	66765N105
NTRS	NORTHERN TRUST CORP	167,500	$14.33M	0.5%	$85.56 *	$76.24	+0.9%	Common	665859104
DGICA	DONEGAL GROUP INC	425,500	$5.74M	0.2%	$13.49 *	$10.38	+11.2%	Common	257701201