Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
XOM	EXXONMOBIL HOLDINGS CORP	445,335	$72.48M	3.2%	$162.75	$162.75	—	COM SHS	30233Q108
XCOR	FUNDX INVT TR	82,145	$7.365M	0.3%	$89.66	$88.23	+1.6%	FUNDX ETF	360876809
SPYM	SPDR SERIES TRUST	81,730	$7.336M	0.3%	$89.76	$89.40	+0.4%	ST STR P500ETF	78464A854
IWF	ISHARES TR	55,720	$6.979M	0.3%	$125.25	$122.35	+2.4%	RUS 1000 GRW ETF	464287614
ABBV	ABBVIE INC	12,360	$3.233M	0.1%	$261.57	$256.36	+2.0%	COM	00287Y109
R	RYDER SYS INC	7,600	$1.732M	0.1%	$227.89	$254.24	-10.4%	COM	783549108
TRI	THOMSON REUTERS CORP	9,822	$956K	0.0%	$97.33	$97.33	—	COM	884903881
WSO/B	WATSCO INC	2,960	$893K	0.0%	$301.69 *	$335.28	-7.3%	CL B CONV	942622101
LNT	ALLIANT ENERGY CORP	13,762	$871K	0.0%	$63.29	$70.12	-9.7%	COM	018802108
PFG	PRINCIPAL FINANCIAL GROUP IN	7,671	$859K	0.0%	$111.98	$113.22	-1.1%	COM	74251V102
MO	ALTRIA GROUP INC	9,833	$662K	0.0%	$67.32	$69.44	-3.0%	COM	02209S103
IBM	INTERNATIONAL BUSINESS MACHS	2,829	$622K	0.0%	$219.87	$237.46	-7.4%	COM	459200101
SCL	STEPAN CO	8,515	$531K	0.0%	$62.36	$61.56	+1.3%	COM	858586100
ED	CONSOLIDATED EDISON INC	4,454	$455K	0.0%	$102.16	$108.35	-5.7%	COM	209115104
UCB	UNITED CMNTY BKS BLAIRSVLE G	12,650	$422K	0.0%	$33.36	$35.33	-5.6%	COM	90984P303
NWFL	NORWOOD FINANCIAL CORP	11,400	$377K	0.0%	$33.07	$33.45	-1.2%	COM	669549107
PRU	PRUDENTIAL FINL INC	2,643	$300K	0.0%	$113.51	$119.26	-4.8%	COM	744320102

Exited Positions (1)

XOM EXXON MOBIL 3.0%

Value $68.3M Shares 499,800 Share Price $136.66 * Est. Cost/Share $53.73 Unrealized @ Report Date +202.9%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
XOM	EXXON MOBIL	499,800	$68.3M	3.0%	$136.66 *	$53.73	+202.9%	—	30231G102

Decreased Positions (50)

CAT CATERPILLAR INC 1.7%

Value $38.6M (-57.4%) Shares 47,610 (-44.3%) Share Price $810.80 Est. Cost/Share $113.86 Unrealized @ Report Date +612.1%

CMI CUMMINS INC 1.7%

Value $37.1M (-56.4%) Shares 71,825 (-39.8%) Share Price $516.58 Est. Cost/Share $87.36 Unrealized @ Report Date +491.3%

MSM MSC INDL DIRECT INC 0.2%

Value $4.949M (-89.9%) Shares 40,000 (-90.3%) Share Price $123.72 Est. Cost/Share $72.39 Unrealized @ Report Date +70.9%

ETN EATON CORP PLC 2.1%

Value $46.46M (-45.9%) Shares 108,110 (-46.4%) Share Price $429.71 Est. Cost/Share $48.34 Unrealized @ Report Date +788.9%

VLO VALERO ENERGY CORP 2.9%

Value $65.86M (+31.2%) Shares 169,900 (-11.9%) Share Price $387.61 Est. Cost/Share $60.57 Unrealized @ Report Date +539.9%

CSCO CISCO SYS INC 2.7%

Value $59.44M (-20.8%) Shares 552,300 (-13.5%) Share Price $107.63 Est. Cost/Share $20.49 Unrealized @ Report Date +425.4%

SO SOUTHERN CO 2.4%

Value $52.67M (-22.7%) Shares 635,400 (-10.7%) Share Price $82.89 Est. Cost/Share $35.42 Unrealized @ Report Date +134.0%

GWW WW GRAINGER INC 2.1%

Value $45.97M (-24.1%) Shares 36,900 (-17.1%) Share Price $1245.77 Est. Cost/Share $163.61 Unrealized @ Report Date +661.4%

HUBB HUBBELL INC 2.0%

Value $45.72M (-23.6%) Shares 100,800 (-12.0%) Share Price $453.60 Est. Cost/Share $95.19 Unrealized @ Report Date +376.5%

AEP AMERICAN ELEC PWR CO INC 1.7%

Value $38.02M (-24.3%) Shares 320,500 (-12.7%) Share Price $118.64 Est. Cost/Share $60.31 Unrealized @ Report Date +96.7%

CINF CINCINNATI FINL CORP 2.5%

Value $56.53M (-17.2%) Shares 354,700 (-3.8%) Share Price $159.37 Est. Cost/Share $36.01 Unrealized @ Report Date +342.5%

EVRG EVERGY INC 1.9%

Value $42.8M (-21.1%) Shares 545,590 (-13.1%) Share Price $78.44 Est. Cost/Share $46.55 Unrealized @ Report Date +68.5%

XEL XCEL ENERGY INC 1.8%

Value $40.97M (-20.5%) Shares 581,225 (-9.4%) Share Price $70.48 Est. Cost/Share $35.11 Unrealized @ Report Date +100.8%

WEC WEC ENERGY GROUP INC 2.0%

Value $45.16M (-19.0%) Shares 448,136 (-6.1%) Share Price $100.78 Est. Cost/Share $75.36 Unrealized @ Report Date +33.7%

MCD MCDONALDS CORP 1.9%

Value $42.91M (-19.0%) Shares 185,803 (-5.3%) Share Price $230.94 Est. Cost/Share $81.17 Unrealized @ Report Date +184.5%

PSX PHILLIPS 66 1.7%

Value $38.55M (+33.8%) Shares 151,000 (-11.2%) Share Price $255.31 Est. Cost/Share $66.33 Unrealized @ Report Date +284.9%

UPS UNITED PARCEL SVCS INC 1.5%

Value $34.58M (-21.8%) Shares 370,100 (-10.0%) Share Price $93.44 Est. Cost/Share $81.46 Unrealized @ Report Date +14.7%

ES EVERSOURCE ENERGY 1.8%

Value $41.44M (-18.6%) Shares 645,933 (-8.2%) Share Price $64.16 Est. Cost/Share $57.42 Unrealized @ Report Date +11.7%

TXN TEXAS INSTRS INC 2.7%

Value $60.81M (-13.4%) Shares 217,117 (-8.0%) Share Price $280.09 Est. Cost/Share $68.78 Unrealized @ Report Date +307.3%

SYY SYSCO CORP 1.9%

Value $41.91M (-18.2%) Shares 537,600 (-12.3%) Share Price $77.96 Est. Cost/Share $39.24 Unrealized @ Report Date +98.7%

DUK DUKE ENERGY CORP NEW 1.8%

Value $39.9M (-17.7%) Shares 349,964 (-8.7%) Share Price $114.01 Est. Cost/Share $59.29 Unrealized @ Report Date +92.3%

CAH CARDINAL HEALTH INC 1.5%

Value $33.8M (-19.6%) Shares 151,900 (-14.2%) Share Price $222.50 Est. Cost/Share $42.38 Unrealized @ Report Date +425.0%

KMB KIMBERLY-CLARK CORP 1.5%

Value $34.35M (-19.2%) Shares 352,553 (-9.0%) Share Price $97.43 Est. Cost/Share $80.84 Unrealized @ Report Date +20.5%

OGE OGE ENERGY CORP 1.5%

Value $33.86M (-19.4%) Shares 745,500 (-13.6%) Share Price $45.42 Est. Cost/Share $33.19 Unrealized @ Report Date +36.9%

PEG PUBLIC SVC ENTERPRISE GROUP 1.1%

Value $23.84M (-25.3%) Shares 354,000 (-9.8%) Share Price $67.34 Est. Cost/Share $39.73 Unrealized @ Report Date +69.5%

PEP PEPSICO INC 2.4%

Value $54.85M (-12.1%) Shares 432,850 (-6.0%) Share Price $126.72 Est. Cost/Share $89.11 Unrealized @ Report Date +42.2%

KO COCA COLA CO 3.3%

Value $73.22M (-9.2%) Shares 850,545 (-14.2%) Share Price $86.08 Est. Cost/Share $32.35 Unrealized @ Report Date +166.1%

AVA AVISTA CORP 0.8%

Value $17.31M (-29.2%) Shares 493,200 (-17.5%) Share Price $35.09 Est. Cost/Share $27.55 Unrealized @ Report Date +27.4%

QCOM QUALCOMM INC 2.7%

Value $60.62M (-10.3%) Shares 329,400 (-9.7%) Share Price $184.04 Est. Cost/Share $42.49 Unrealized @ Report Date +333.1%

POR PORTLAND GEN ELEC CO 1.3%

Value $29.44M (-19.0%) Shares 659,600 (-5.9%) Share Price $44.63 Est. Cost/Share $43.88 Unrealized @ Report Date +1.7%

PG PROCTER & GAMBLE CO 3.0%

Value $67.02M (-9.0%) Shares 461,331 (-8.1%) Share Price $145.28 Est. Cost/Share $59.18 Unrealized @ Report Date +145.5%

STZ CONSTELLATION BRANDS INC 0.9%

Value $20.7M (-23.1%) Shares 183,100 (-5.4%) Share Price $113.06 Est. Cost/Share $148.54 Unrealized @ Report Date -23.9%

SR SPIRE INC 1.3%

Value $28.23M (-16.7%) Shares 371,000 (-14.4%) Share Price $76.09 Est. Cost/Share $73.68 Unrealized @ Report Date —

BKH BLACK HILLS CORP 1.1%

Value $25.44M (-17.8%) Shares 363,000 (-12.7%) Share Price $70.08 Est. Cost/Share $49.83 Unrealized @ Report Date +40.7%

AJG GALLAGHER ARTHUR J & CO 1.7%

Value $38.64M (-11.8%) Shares 169,400 (-11.2%) Share Price $228.11 Est. Cost/Share $36.24 Unrealized @ Report Date +529.5%

EMR EMERSON ELEC CO 3.0%

Value $66.46M (-7.0%) Shares 428,500 (-14.1%) Share Price $155.10 Est. Cost/Share $44.68 Unrealized @ Report Date +247.1%

GPC GENUINE PARTS CO 1.3%

Value $30.11M (-12.6%) Shares 239,500 (-18.0%) Share Price $125.74 Est. Cost/Share $69.33 Unrealized @ Report Date +81.4%

CVX CHEVRON CORPORATION 3.2%

Value $70.78M (+6.5%) Shares 346,585 (-13.5%) Share Price $204.21 Est. Cost/Share $73.51 Unrealized @ Report Date +177.8%

EMN EASTMAN CHEM CO 1.0%

Value $21.66M (-16.6%) Shares 334,000 (-13.8%) Share Price $64.84 Est. Cost/Share $61.44 Unrealized @ Report Date +5.5%

JNJ JOHNSON & JOHNSON 3.3%

Value $73.78M (-5.4%) Shares 278,690 (-9.2%) Share Price $264.74 Est. Cost/Share $79.02 Unrealized @ Report Date +235.0%

ITW ILLINOIS TOOL WKS INC 1.1%

Value $25.21M (-14.0%) Shares 98,000 (-9.7%) Share Price $257.28 Est. Cost/Share $113.08 Unrealized @ Report Date +127.5%

HD HOME DEPOT INC 0.4%

Value $8.023M (-31.1%) Shares 28,200 (-14.5%) Share Price $284.50 Est. Cost/Share $325.33 Unrealized @ Report Date -12.6%

PFE PFIZER INC 2.3%

Value $50.44M (+6.6%) Shares 1,768,700 (-9.9%) Share Price $28.52 Est. Cost/Share $23.75 Unrealized @ Report Date +20.1%

MKC MCCORMICK & CO INC 1.3%

Value $28.82M (-9.7%) Shares 621,200 (-1.8%) Share Price $46.40 Est. Cost/Share $56.13 Unrealized @ Report Date -17.3%

PAYX PAYCHEX INC 1.7%

Value $38.55M (-7.4%) Shares 391,400 (-7.5%) Share Price $98.50 Est. Cost/Share $48.35 Unrealized @ Report Date +103.7%

MRK MERCK & CO INC 3.9%

Value $87.93M (-3.0%) Shares 605,100 (-14.2%) Share Price $145.31 Est. Cost/Share $50.72 Unrealized @ Report Date +186.5%

BF/B BROWN FORMAN CORP 1.3%

Value $28.03M (-5.1%) Shares 1,069,900 (-3.0%) Share Price $26.20 Est. Cost/Share $28.21 Unrealized @ Report Date -7.1%

LMT LOCKHEED MARTIN CORP 1.0%

Value $22.4M (-6.0%) Shares 43,990 (-6.0%) Share Price $509.25 Est. Cost/Share $311.11 Unrealized @ Report Date +63.7%

BMY BRISTOL-MYERS SQUIBB CO 1.5%

Value $34.63M (-3.2%) Shares 554,950 (-10.6%) Share Price $62.40 Est. Cost/Share $38.87 Unrealized @ Report Date +60.5%

MDLZ MONDELEZ INTL INC 1.0%

Value $23.48M (-2.2%) Shares 406,100 (-1.9%) Share Price $57.82 Est. Cost/Share $59.53 Unrealized @ Report Date -2.9%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
CAT	CATERPILLAR INC	47,610 (-44.3%)	$38.6M (-57.4%)	1.7%	$810.80	$113.86	+612.1%	COM	149123101
CMI	CUMMINS INC	71,825 (-39.8%)	$37.1M (-56.4%)	1.7%	$516.58	$87.36	+491.3%	COM	231021106
MSM	MSC INDL DIRECT INC	40,000 (-90.3%)	$4.949M (-89.9%)	0.2%	$123.72	$72.39	+70.9%	CL A	553530106
ETN	EATON CORP PLC	108,110 (-46.4%)	$46.46M (-45.9%)	2.1%	$429.71	$48.34	+788.9%	SHS	G29183103
VLO	VALERO ENERGY CORP	169,900 (-11.9%)	$65.86M (+31.2%)	2.9%	$387.61	$60.57	+539.9%	COM	91913Y100
CSCO	CISCO SYS INC	552,300 (-13.5%)	$59.44M (-20.8%)	2.7%	$107.63	$20.49	+425.4%	COM	17275R102
SO	SOUTHERN CO	635,400 (-10.7%)	$52.67M (-22.7%)	2.4%	$82.89	$35.42	+134.0%	COM	842587107
GWW	WW GRAINGER INC	36,900 (-17.1%)	$45.97M (-24.1%)	2.1%	$1245.77	$163.61	+661.4%	COM	384802104
HUBB	HUBBELL INC	100,800 (-12.0%)	$45.72M (-23.6%)	2.0%	$453.60	$95.19	+376.5%	COM	443510607
AEP	AMERICAN ELEC PWR CO INC	320,500 (-12.7%)	$38.02M (-24.3%)	1.7%	$118.64	$60.31	+96.7%	COM	025537101
CINF	CINCINNATI FINL CORP	354,700 (-3.8%)	$56.53M (-17.2%)	2.5%	$159.37	$36.01	+342.5%	COM	172062101
EVRG	EVERGY INC	545,590 (-13.1%)	$42.8M (-21.1%)	1.9%	$78.44	$46.55	+68.5%	COM	30034W106
XEL	XCEL ENERGY INC	581,225 (-9.4%)	$40.97M (-20.5%)	1.8%	$70.48	$35.11	+100.8%	COM	98389B100
WEC	WEC ENERGY GROUP INC	448,136 (-6.1%)	$45.16M (-19.0%)	2.0%	$100.78	$75.36	+33.7%	COM	92939U106
MCD	MCDONALDS CORP	185,803 (-5.3%)	$42.91M (-19.0%)	1.9%	$230.94	$81.17	+184.5%	COM	580135101
PSX	PHILLIPS 66	151,000 (-11.2%)	$38.55M (+33.8%)	1.7%	$255.31	$66.33	+284.9%	COM	718546104
UPS	UNITED PARCEL SVCS INC	370,100 (-10.0%)	$34.58M (-21.8%)	1.5%	$93.44	$81.46	+14.7%	CL B	911312106
ES	EVERSOURCE ENERGY	645,933 (-8.2%)	$41.44M (-18.6%)	1.8%	$64.16	$57.42	+11.7%	COM	30040W108
TXN	TEXAS INSTRS INC	217,117 (-8.0%)	$60.81M (-13.4%)	2.7%	$280.09	$68.78	+307.3%	COM	882508104
SYY	SYSCO CORP	537,600 (-12.3%)	$41.91M (-18.2%)	1.9%	$77.96	$39.24	+98.7%	COM	871829107
DUK	DUKE ENERGY CORP NEW	349,964 (-8.7%)	$39.9M (-17.7%)	1.8%	$114.01	$59.29	+92.3%	COM NEW	26441C204
CAH	CARDINAL HEALTH INC	151,900 (-14.2%)	$33.8M (-19.6%)	1.5%	$222.50	$42.38	+425.0%	COM	14149Y108
KMB	KIMBERLY-CLARK CORP	352,553 (-9.0%)	$34.35M (-19.2%)	1.5%	$97.43	$80.84	+20.5%	COM	494368103
OGE	OGE ENERGY CORP	745,500 (-13.6%)	$33.86M (-19.4%)	1.5%	$45.42	$33.19	+36.9%	COM	670837103
PEG	PUBLIC SVC ENTERPRISE GROUP	354,000 (-9.8%)	$23.84M (-25.3%)	1.1%	$67.34	$39.73	+69.5%	COM	744573106
PEP	PEPSICO INC	432,850 (-6.0%)	$54.85M (-12.1%)	2.4%	$126.72	$89.11	+42.2%	COM	713448108
KO	COCA COLA CO	850,545 (-14.2%)	$73.22M (-9.2%)	3.3%	$86.08	$32.35	+166.1%	COM	191216100
AVA	AVISTA CORP	493,200 (-17.5%)	$17.31M (-29.2%)	0.8%	$35.09	$27.55	+27.4%	COM	05379B107
QCOM	QUALCOMM INC	329,400 (-9.7%)	$60.62M (-10.3%)	2.7%	$184.04	$42.49	+333.1%	COM	747525103
POR	PORTLAND GEN ELEC CO	659,600 (-5.9%)	$29.44M (-19.0%)	1.3%	$44.63	$43.88	+1.7%	COM NEW	736508847
PG	PROCTER & GAMBLE CO	461,331 (-8.1%)	$67.02M (-9.0%)	3.0%	$145.28	$59.18	+145.5%	COM	742718109
STZ	CONSTELLATION BRANDS INC	183,100 (-5.4%)	$20.7M (-23.1%)	0.9%	$113.06	$148.54	-23.9%	CL A	21036P108
SR	SPIRE INC	371,000 (-14.4%)	$28.23M (-16.7%)	1.3%	$76.09	$73.68	—	COM	84857L101
BKH	BLACK HILLS CORP	363,000 (-12.7%)	$25.44M (-17.8%)	1.1%	$70.08	$49.83	+40.7%	COM	092113109
AJG	GALLAGHER ARTHUR J & CO	169,400 (-11.2%)	$38.64M (-11.8%)	1.7%	$228.11	$36.24	+529.5%	COM	363576109
EMR	EMERSON ELEC CO	428,500 (-14.1%)	$66.46M (-7.0%)	3.0%	$155.10	$44.68	+247.1%	COM	291011104
GPC	GENUINE PARTS CO	239,500 (-18.0%)	$30.11M (-12.6%)	1.3%	$125.74	$69.33	+81.4%	COM	372460105
CVX	CHEVRON CORPORATION	346,585 (-13.5%)	$70.78M (+6.5%)	3.2%	$204.21	$73.51	+177.8%	COM	166764100
EMN	EASTMAN CHEM CO	334,000 (-13.8%)	$21.66M (-16.6%)	1.0%	$64.84	$61.44	+5.5%	COM	277432100
JNJ	JOHNSON & JOHNSON	278,690 (-9.2%)	$73.78M (-5.4%)	3.3%	$264.74	$79.02	+235.0%	COM	478160104
ITW	ILLINOIS TOOL WKS INC	98,000 (-9.7%)	$25.21M (-14.0%)	1.1%	$257.28	$113.08	+127.5%	COM	452308109
HD	HOME DEPOT INC	28,200 (-14.5%)	$8.023M (-31.1%)	0.4%	$284.50	$325.33	-12.6%	COM	437076102
PFE	PFIZER INC	1,768,700 (-9.9%)	$50.44M (+6.6%)	2.3%	$28.52	$23.75	+20.1%	COM	717081103
MKC	MCCORMICK & CO INC	621,200 (-1.8%)	$28.82M (-9.7%)	1.3%	$46.40	$56.13	-17.3%	COM NON VTG	579780206
PAYX	PAYCHEX INC	391,400 (-7.5%)	$38.55M (-7.4%)	1.7%	$98.50	$48.35	+103.7%	COM	704326107
MRK	MERCK & CO INC	605,100 (-14.2%)	$87.93M (-3.0%)	3.9%	$145.31	$50.72	+186.5%	COM	58933Y105
BF/B	BROWN FORMAN CORP	1,069,900 (-3.0%)	$28.03M (-5.1%)	1.3%	$26.20	$28.21	-7.1%	CL B	115637209
LMT	LOCKHEED MARTIN CORP	43,990 (-6.0%)	$22.4M (-6.0%)	1.0%	$509.25	$311.11	+63.7%	COM	539830109
BMY	BRISTOL-MYERS SQUIBB CO	554,950 (-10.6%)	$34.63M (-3.2%)	1.5%	$62.40	$38.87	+60.5%	COM	110122108
MDLZ	MONDELEZ INTL INC	406,100 (-1.9%)	$23.48M (-2.2%)	1.0%	$57.82	$59.53	-2.9%	CL A	609207105

Unchanged Positions (3)

FE FIRSTENERGY CORP 1.2%

Value $27.36M Shares 631,500 Share Price $43.33 Est. Cost/Share $39.73 Unrealized @ Report Date +9.1%

USB US BANCORP 1.2%

Value $27.69M Shares 479,400 Share Price $57.76 Est. Cost/Share $36.71 Unrealized @ Report Date +57.4%

DGICA DONEGAL GROUP INC 0.3%

Value $7.57M Shares 425,500 Share Price $17.79 Est. Cost/Share $10.38 Unrealized @ Report Date +71.3%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
FE	FIRSTENERGY CORP	631,500	$27.36M	1.2%	$43.33	$39.73	+9.1%	COM	337932107
USB	US BANCORP	479,400	$27.69M	1.2%	$57.76	$36.71	+57.4%	COM NEW	902973304
DGICA	DONEGAL GROUP INC	425,500	$7.57M	0.3%	$17.79	$10.38	+71.3%	CL A	257701201