Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
PGR	Progressive Corp.-Ohio	610,608	$26.92M	20.6%	$44.09 *	$17.04	+99.8%	COM	743315103
SYK	Stryker Corp.	75,700	$10.51M	8.0%	$138.78 *	$56.92	+122.4%	COM	863667101
JNJ	Johnson & Johnson	41,038	$5.429M	4.2%	$132.29 *	$59.66	+75.2%	COM	478160104
—	E. I. duPont de Nemours & Co.	60,200	$4.859M	3.7%	$80.71	$52.50	—	COM	263534109
—	General Electric Co.	164,478	$4.443M	3.4%	$27.01	$23.30	—	COM	369604103
MSFT	Microsoft Corp.	58,600	$4.04M	3.1%	$68.94 *	$26.78	+134.3%	COM	594918104
—	Unilever PLC	71,940	$3.893M	3.0%	$54.11	$40.44	—	COM	904767704
IBM	IBM	23,014	$3.541M	2.7%	$153.86 *	$109.19	-6.9%	COM	459200101
MRK	Merck & Co., Inc.	49,400	$3.166M	2.4%	$64.09 *	$30.02	+56.7%	COM	58933Y105
INTC	Intel Corp.	90,750	$3.062M	2.3%	$33.74 *	$17.18	+62.7%	COM	458140100
BMY	Bristol Myers Co.	54,100	$3.014M	2.3%	$55.71 *	$28.67	+42.6%	COM	110122108
ABBV	AbbVie Inc.	37,600	$2.727M	2.1%	$72.53 *	$27.59	+83.7%	COM	00287Y109
EMR	Emerson Electric Co.	44,500	$2.653M	2.0%	$59.62 *	$40.11	+20.7%	COM	291011104
PFE	Pfizer, Inc.	78,608	$2.641M	2.0%	$33.60 *	$16.46	+33.2%	COM	717081103
NUE	Nucor Corp.	45,350	$2.624M	2.0%	$57.86 *	$32.55	+47.9%	COM	670346105
CSCO	Cisco Systems	80,400	$2.517M	1.9%	$31.31 *	$15.24	+58.0%	COM	17275R102
AMAT	Applied Materials Inc.	57,000	$2.355M	1.8%	$41.32 *	$13.39	+180.7%	COM	038222105
—	Berkshire Hathaway Inc. Class	13,750	$2.329M	1.8%	$169.38	$166.32	—	COM	084670207
TMO	Thermo Fisher Scientific	12,500	$2.181M	1.7%	$174.48 *	$79.76	+113.8%	COM	883556102
AAPL	Apple Computer	14,735	$2.122M	1.6%	$144.01 *	$17.87	+87.3%	COM	037833100
MRSH	Marsh & McLennan Companies Inc	26,800	$2.089M	1.6%	$77.95 *	$31.19	+116.6%	COM	571748102
ORCL	Oracle Corp.	40,700	$2.041M	1.6%	$50.15 *	$36.49	+20.9%	COM	68389X105
MAS	Masco Corp.	49,300	$1.884M	1.4%	$38.22 *	$14.92	+124.5%	COM	574599106
GLW	Corning Inc.	58,000	$1.743M	1.3%	$30.05 *	$15.04	+58.8%	COM	219350105
UPS	United Parcel Service, Inc.	15,750	$1.741M	1.3%	$110.54 *	$55.38	+44.9%	COM	911312106
XOM	Exxon Mobil	21,239	$1.715M	1.3%	$80.75 *	$53.69	+2.3%	COM	30231G102
VZ	Verizon Communications	37,887	$1.692M	1.3%	$44.66 *	$26.72	+6.0%	COM	92343V104
—	AT&T Corp.	44,800	$1.69M	1.3%	$37.72	$34.42	—	COM	001957505
ABT	Abbott Laboratories	34,700	$1.686M	1.3%	$48.59 *	$29.01	+44.1%	COM	002824100
KO	Coca Cola Co.	37,600	$1.686M	1.3%	$44.84 *	$27.88	+23.4%	COM	191216100
PHG	Koninklijke Philips NV	46,420	$1.663M	1.3%	$35.83	$28.43	+26.0%	COM	500472303
ING	ING Groep NV	90,000	$1.565M	1.2%	$17.39	$8.55	+103.4%	COM	456837103
—	Symantec Corp.	52,500	$1.483M	1.1%	$28.25	$21.82	—	COM	871503108
PG	Procter & Gamble Company	16,400	$1.429M	1.1%	$87.13 *	$55.64	+24.8%	COM	742718109
CMCSA	Comcast Corp. (New)	36,400	$1.417M	1.1%	$38.93 *	$29.92	+5.8%	COM	20030N101
NTRS	Northern Trust Corporation	13,200	$1.283M	1.0%	$97.20 *	$40.35	+89.2%	COM	665859104
—	Staples Inc.	119,800	$1.206M	0.9%	$10.07	$10.97	—	COM	855030102
A	Agilent Technologies	19,900	$1.18M	0.9%	$59.30 *	$28.37	+96.4%	COM	00846U101
WLY	John Wiley & Sons Inc. A	20,000	$1.055M	0.8%	$52.75 *	$27.09	+49.3%	COM	968223206
HPQ	HP Inc.	59,100	$1.033M	0.8%	$17.48 *	$9.12	+45.1%	COM	40434L105
—	GlaxoSmithKline	23,800	$1.026M	0.8%	$43.11	$48.04	—	COM	37733W105
HPE	Hewlett Packard Enterprise Co.	59,100	$980K	0.7%	$16.58 *	$6.50	+53.1%	COM	42824C109
GS	Goldman Sachs Group	4,300	$954K	0.7%	$221.86 *	$200.04	-7.6%	COM	38141G104
—	Morgan Stanley Series J	460,000	$481K	0.4%	$1.05	$1.01	—	-	617474AA9
—	Dell Technologies, Inc.	6,459	$395K	0.3%	$61.15	$47.75	—	COM	24703L103
DXC	DXC Technology	5,071	$389K	0.3%	$76.71 *	$62.87	+0.2%	COM	23355L106
—	ING Groep NV	7,850	$202K	0.2%	$25.73	$25.48	—	PFD	456837400