Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
CVX	CHEVRON CORP	533,900	$95.83M	3.0%	$179.49 *	$73.51	+115.2%	Common	166764100
NUE	NUCOR CORP	712,600	$93.93M	2.9%	$131.81 *	$37.40	+237.4%	Common	670346105
XOM	EXXON MOBIL CORP	799,500	$88.19M	2.8%	$110.30 *	$53.73	+85.2%	Common	30231G102
MRK	MERCK & CO INC	764,100	$84.78M	2.7%	$110.95 *	$46.72	+116.7%	Common	58933Y105
CAT	CATERPILLAR INC	349,000	$83.61M	2.6%	$239.56 *	$113.86	+99.9%	Common	149123101
VZ	VERIZON COMMUNICATIONS INC	2,097,500	$82.64M	2.6%	$39.40 *	$30.29	+6.3%	Common	92343V104
PG	PROCTER & GAMBLE CO	521,400	$79.02M	2.5%	$151.56 *	$59.18	+137.4%	Common	742718109
PEP	PEPSICO INC	410,200	$74.11M	2.3%	$180.66 *	$82.00	+99.5%	Common	713448108
PFE	PFIZER INC	1,424,700	$73M	2.3%	$51.24 *	$23.72	+81.6%	Common	717081103
EMR	EMERSON ELECTRIC CO	734,700	$70.58M	2.2%	$96.06 *	$43.87	+106.4%	Common	291011104
QCOM	QUALCOMM INC	634,700	$69.78M	2.2%	$109.94 *	$42.49	+141.7%	Common	747525103
KO	COCA COLA CO	1,053,300	$67M	2.1%	$63.61 *	$32.35	+79.7%	Common	191216100
SO	SOUTHERN COMPANY	933,000	$66.63M	2.1%	$71.41 *	$35.42	+80.8%	Common	842587107
CSCO	CISCO SYSTEMS	1,366,600	$65.11M	2.0%	$47.64 *	$20.49	+111.9%	Common	17275R102
MPC	MARATHON PETROLEUM GROUP	559,000	$65.06M	2.0%	$116.39 *	$41.73	+161.3%	Common	56585A102
CAH	CARDINAL HEALTH INC	846,000	$65.03M	2.0%	$76.87 *	$42.38	+71.9%	Common	14149Y108
UPS	UNITED PARCEL SERVICES INC	373,900	$65M	2.0%	$173.84 *	$77.55	+92.5%	Common	911312106
GWW	GRAINGER WW INC	115,000	$63.97M	2.0%	$556.25 *	$163.61	+230.9%	Common	384802104
HUBB	HUBBELL INC	271,000	$63.6M	2.0%	$234.68 *	$95.19	+136.5%	Common	443510607
MCD	MCDONALDS CORP	239,800	$63.19M	2.0%	$263.53 *	$77.77	+216.1%	Common	580135101
AJG	GALLAGHER ARTHUR J	334,100	$62.99M	2.0%	$188.54 *	$36.24	+406.0%	Common	363576109
SYY	SYSCO CORP	791,700	$60.52M	1.9%	$76.45 *	$39.24	+78.3%	Common	871829107
TXN	TEXAS INSTRUMENTS INC	360,500	$59.56M	1.9%	$165.22 *	$68.78	+119.3%	Common	882508104
JNJ	JOHNSON & JOHNSON	329,800	$58.26M	1.8%	$176.65 *	$78.13	+106.4%	Common	478160104
PSX	PHILLIPS 66	558,400	$58.12M	1.8%	$104.08 *	$66.33	+40.8%	Common	718546104
AEP	AMERICAN ELECTRIC POWER CO INC	611,300	$58.04M	1.8%	$94.95 *	$60.31	+40.5%	Common	025537101
DUK	DUKE ENERGY CORP	560,731	$57.75M	1.8%	$102.99 *	$59.29	+54.3%	Common	26441C204
KMB	KIMBERLY CLARK CORP	409,000	$55.52M	1.7%	$135.75 *	$80.29	+50.9%	Common	494368103
CMI	CUMMINS INC	219,500	$53.18M	1.7%	$242.29 *	$87.36	+158.2%	Common	231021106
ITW	ILLINOIS TOOL WORKS	240,500	$52.98M	1.7%	$220.30 *	$113.08	+81.7%	Common	452308109
PEG	PUBLIC SERVICE ENTERPRISE GRP INC	852,500	$52.23M	1.6%	$61.27 *	$39.73	+39.4%	Common	744573106
MSM	MSC INDUSTRIAL DIRECT CO	616,200	$50.34M	1.6%	$81.70	$72.39	+12.9%	Common	553530106
GPC	GENUINE PARTS CO	287,900	$49.95M	1.6%	$173.51 *	$68.07	+133.9%	Common	372460105
PAYX	PAYCHEX INC	428,600	$49.53M	1.6%	$115.56 *	$48.35	+118.2%	Common	704326107
LMT	LOCKHEED MARTIN	100,800	$49.04M	1.5%	$486.49 *	$311.11	+44.1%	Common	539830109
ETN	EATON CORP	309,700	$48.61M	1.5%	$156.95 *	$48.34	+211.8%	Common	G29183103
ADM	ARCHER DANIELS MIDLAND CO	512,500	$47.59M	1.5%	$92.85 *	$33.35	+152.8%	Common	039483102
BMY	BRISTOL MYERS SQUIBB CO	619,000	$44.54M	1.4%	$71.95 *	$38.49	+61.8%	Common	110122108
MDU	MDU RESOURCES GROUP INC	1,445,000	$43.84M	1.4%	$30.34 *	$6.24	+69.8%	Common	552690109
LEG	LEGGETT & PLATT INC	1,356,500	$43.72M	1.4%	$32.23	$37.57	-14.2%	Common	524660107
D	DOMINION RESOURCES INC	707,314	$43.37M	1.4%	$61.32 *	$50.02	+5.5%	Common	25746U109
CINF	CINCINNATI FINANCIAL CORP	395,100	$40.45M	1.3%	$102.39 *	$34.98	+171.0%	Common	172062101
—	KELLOGG CO	542,000	$38.61M	1.2%	$71.24 *	$45.24	+33.5%	Common	487836108
XEL	XCEL ENERGY CORP	530,900	$37.22M	1.2%	$70.11 *	$23.56	+168.3%	Common	98389B100
VLO	VALERO ENERGY CORP	284,500	$36.09M	1.1%	$126.86 *	$60.57	+91.0%	Common	91913Y100
SR	SPIRE INC	523,000	$36.01M	1.1%	$68.86	$73.63	—	Common	84857L101
SON	SONOCO PRODUCTS	580,200	$35.22M	1.1%	$60.71 *	$34.89	+54.1%	Common	835495102
—	ALLETE INC	545,100	$35.16M	1.1%	$64.51	$61.47	—	Common	018522300
EVRG	EVERGY INC	544,911	$34.29M	1.1%	$62.93 *	$46.01	+20.2%	Common	30034W106
OGE	OGE ENERGY CORP	862,500	$34.11M	1.1%	$39.55	$33.19	+19.2%	Common	670837103
WEC	WEC ENERGY GROUP INC	332,331	$31.16M	1.0%	$93.76 *	$60.02	+40.3%	Common	92939U106
—	SOUTH JERSEY INDUSTRIES INC	820,500	$29.15M	0.9%	$35.53	$30.09	—	Common	838518108
BKH	BLACK HILLS CORP	414,000	$29.12M	0.9%	$70.34 *	$49.83	+22.5%	Common	092113109
DOW	DOW INC	546,000	$27.51M	0.9%	$50.39 *	$38.63	+9.1%	Common	260557103
INTC	INTEL CORP	1,024,000	$27.06M	0.8%	$26.43 *	$21.21	+20.2%	Common	458140100
EMN	EASTMAN CHEMICAL CO	330,500	$26.92M	0.8%	$81.44 *	$60.18	+20.4%	Common	277432100
AVA	AVISTA CORP	597,500	$26.49M	0.8%	$44.34 *	$27.55	+38.4%	Common	05379B107
GIS	GENERAL MILLS INC	286,500	$24.02M	0.8%	$83.85 *	$38.12	+97.0%	Common	370334104
USB	US BANCORP	480,000	$20.93M	0.7%	$43.61 *	$36.71	+3.0%	Common	902973304
NWN	NORTHWEST NATURAL HOLDING CO	368,000	$17.51M	0.5%	$47.59	$66.85	-28.8%	Common	66765N105
NTRS	NORTHERN TRUST CORP	167,500	$14.82M	0.5%	$88.49 *	$76.24	+5.2%	Common	665859104
DGICA	DONEGAL GROUP INC	425,500	$6.042M	0.2%	$14.20 *	$10.38	+18.3%	Common	257701201