Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MRK	MERCK & CO	705,600	$84.88M	3.4%	$50.72	+125.3%	—	58933Y105
XOM	EXXON MOBIL	499,800	$84.8M	3.4%	$53.73	+158.2%	—	30231G102
CVX	CHEVRON	400,700	$82.91M	3.3%	$73.51	+133.8%	—	166764100
KO	COCA-COLA	991,300	$75.39M	3.0%	$32.35	+131.1%	—	191216100
JNJ	JOHNSON & JOHNSON	307,000	$75.04M	3.0%	$79.02	+188.4%	—	478160104
PG	PROCTER & GAMBLE	501,800	$72.48M	2.9%	$59.18	+156.5%	—	742718109
ETN	EATON	201,650	$72.12M	2.9%	$48.34	+631.5%	—	G29183103
PEP	PEPSICO	460,250	$71.47M	2.8%	$89.11	+73.6%	—	713448108
SO	SOUTHERN	711,900	$68.71M	2.7%	$35.42	+152.8%	—	842587107
EMR	EMERSON ELECTRIC	499,100	$65.39M	2.6%	$44.68	+232.3%	—	291011104
CMI	CUMMINS	119,250	$64.16M	2.5%	$87.36	+558.8%	—	231021106
TXN	TEXAS INSTRUMENTS	329,500	$63.97M	2.5%	$68.78	+199.9%	—	882508104
CSCO	CISCO SYSTEMS	809,700	$62.83M	2.5%	$20.49	+280.3%	—	17275R102
MCD	MCDONALD'S	196,150	$60.96M	2.4%	$81.17	+290.8%	—	580135101
CAT	CATERPILLAR	85,500	$60.57M	2.4%	$113.86	+501.1%	—	149123101
CINF	CINCINNATI FINANCIAL	368,900	$58.05M	2.3%	$36.01	+352.2%	—	172062101
HUBB	HUBBELL	114,500	$56.19M	2.2%	$95.19	+420.3%	—	443510607
WEC	WEC ENERGY GROUP	477,179	$55.24M	2.2%	$75.36	+45.8%	—	92939U106
PFE	PFIZER	1,963,700	$55.14M	2.2%	$23.75	+10.2%	—	717081103
XEL	XCEL ENERGY	647,800	$51.46M	2.0%	$35.11	+119.8%	—	98389B100
EVRG	EVERGY	627,561	$51.41M	2.0%	$46.55	+66.0%	—	30034W106
DUK	DUKE ENERGY	383,196	$50.18M	2.0%	$59.29	+103.9%	—	26441C204
ES	EVERSOURCE ENERGY	703,933	$48.77M	1.9%	$57.42	+22.1%	—	30040W108
GWW	WW GRAINGER	44,500	$48.54M	1.9%	$163.61	+569.1%	—	384802104
AEP	AMERICAN ELECTRIC POWER	367,100	$48.12M	1.9%	$60.31	+99.9%	—	025537101
VLO	VALERO ENERGY	192,800	$47.64M	1.9%	$60.57	+213.8%	—	91913Y100
QCOM	QUALCOMM	364,700	$46.97M	1.9%	$42.49	+262.2%	—	747525103
SYY	SYSCO	613,200	$43.74M	1.7%	$39.24	+109.6%	—	871829107
OGE	OGE ENERGY	862,500	$41.37M	1.6%	$33.19	+33.9%	—	670837103
AJG	ARTHUR J GALLAGHER	190,800	$41.32M	1.6%	$36.24	+563.5%	—	363576109
UPS	UNITED PARCEL SERVICE CL B	411,400	$40.47M	1.6%	$81.46	+34.9%	—	911312106
SR	SPIRE	433,500	$39.25M	1.6%	$73.68	—	—	84857L101
PAYX	PAYCHEX	423,100	$38.98M	1.5%	$48.35	+110.9%	—	704326107
MSM	MSC INDUSTRIAL CL A	412,400	$38.05M	1.5%	$72.39	+22.8%	—	553530106
BMY	BRISTOL MYERS SQUIBB	620,450	$37.63M	1.5%	$38.85	+47.8%	—	110122108
CAH	CARDINAL HEALTH	177,000	$37.4M	1.5%	$42.38	+408.0%	—	14149Y108
KMB	KIMBERLY CLARK	387,500	$37.38M	1.5%	$80.84	+27.5%	—	494368103
POR	PORTLAND GENERAL ELECTRIC	700,600	$36.97M	1.5%	$43.86	+15.4%	—	736508847
ITW	ILLINOIS TOOL	133,500	$34.75M	1.4%	$113.08	+141.6%	—	452308109
FE	FIRSTENERGY	631,500	$31.99M	1.3%	$39.73	+18.5%	—	337932107
PEG	PUBLIC SERVICE ENTERPRISE GROUP	392,500	$31.77M	1.3%	$39.73	+105.2%	—	744573106
PSX	PHILLIPS 66	170,100	$30.99M	1.2%	$66.33	+121.8%	—	718546104
GPC	GENUINE PARTS	292,100	$30.89M	1.2%	$69.55	+92.0%	—	372460105
EMN	EASTMAN CHEMICAL	387,500	$29.57M	1.2%	$61.44	+18.4%	—	277432100
BF/B	BROWN FORMAN CL B	1,103,400	$29.17M	1.2%	$28.41	-1.6%	—	115637209
STZ	CONSTELLATION BRANDS CL A	193,500	$29.02M	1.2%	$148.54	+5.0%	—	21036P108
BKH	BLACK HILLS	416,000	$28.88M	1.1%	$49.83	+44.3%	—	092113109
LMT	LOCKHEED MARTIN	46,800	$28.29M	1.1%	$311.11	+93.1%	—	539830109
USB	US BANCORP	480,000	$24.96M	1.0%	$36.71	+54.3%	—	902973304
AVA	AVISTA	597,500	$23.98M	1.0%	$27.55	+48.2%	—	05379B107
MDLZ	MONDELEZ INTERNATIONAL CL A	414,100	$23.87M	0.9%	$59.53	-2.3%	—	609207105
MKC	MCCORMICK	292,500	$14.75M	0.6%	$66.46	+0.3%	—	579780206
DGICA	DONEGAL GROUP CL A	425,500	$7.31M	0.3%	$10.38	+79.8%	—	257701201