Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BRK/B	BERKSHIRE HATHAWAY INC DEL	3,755 (+30.5%)	$1.879M (+36.2%)	0.3%	$393.35	—	CL B NEW	084670702
LH	LABCORP HOLDINGS INC	3,855 (+32.9%)	$1.079M (+39.5%)	0.2%	$237.50	—	COM SHS	504922105
SOLV	SOLVENTUM CORP	11,855 (+19.2%)	$915K (+40.8%)	0.2%	$73.87	—	COM SHS	83444M101
AXP	AMERICAN EXPRESS CO	3,779 (+5.6%)	$1.278M (+18.1%)	0.2%	$234.03	—	COM	025816109
WRB	BERKLEY W R CORP	24,506 (+4.8%)	$1.728M (+11.6%)	0.3%	$56.88	—	COM	084423102
VZ	VERIZON COMMUNICATIONS INC	249,485 (+17.4%)	$10.56M (-1.0%)	1.7%	$41.53	—	COM	92343V104
BN	BROOKFIELD CORP	17,157 (+4.2%)	$731K (+9.7%)	0.1%	$33.89	—	CL A LTD VT SH	11271J107

Exited Positions (1)

AVTR AVANTOR INC 0.1%

Value $494K Shares 62,967 Est. Cost $15.26 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AVTR	AVANTOR INC	62,967	$494K	0.1%	$15.26	—	—	05352A100

Decreased Positions (56)

CVX CHEVRON CORPORATION 2.1%

Value $12.96M (-38.9%) Shares 78,195 (-23.7%) Est. Cost $112.88 Unrealized —

CRBG COREBRIDGE FINL INC 0.2%

Value $1.178M (-86.7%) Shares 41,150 (-88.9%) Est. Cost $17.54 Unrealized —

COP CONOCOPHILLIPS 2.3%

Value $14.2M (-34.6%) Shares 136,625 (-17.0%) Est. Cost $57.59 Unrealized —

T AT&T INC 2.3%

Value $13.8M (-35.1%) Shares 666,780 (-9.1%) Est. Cost $15.60 Unrealized —

MDT MEDTRONIC PLC 3.4%

Value $20.62M (-26.5%) Shares 263,532 (-18.6%) Est. Cost $79.08 Unrealized —

NKE NIKE INC 2.5%

Value $14.91M (-29.8%) Shares 363,320 (-9.7%) Est. Cost $63.27 Unrealized —

PSX PHILLIPS 66 1.5%

Value $8.933M (-41.1%) Shares 52,845 (-36.5%) Est. Cost $63.61 Unrealized —

CME CME GROUP INC 2.5%

Value $15.31M (-26.7%) Shares 69,333 (-1.9%) Est. Cost $160.69 Unrealized —

RTX RTX CORPORATION 2.9%

Value $17.76M (-23.8%) Shares 93,614 (-22.5%) Est. Cost $64.75 Unrealized —

KMI KINDER MORGAN INC DEL 2.9%

Value $17.86M (-19.7%) Shares 558,715 (-15.8%) Est. Cost $13.59 Unrealized —

LHX L3HARRIS TECHNOLOGIES INC 2.1%

Value $12.89M (-23.2%) Shares 44,353 (-8.8%) Est. Cost $198.01 Unrealized —

PFE PFIZER INC 1.7%

Value $10.25M (-26.4%) Shares 425,750 (-14.1%) Est. Cost $25.58 Unrealized —

HAS HASBRO INC 1.4%

Value $8.391M (-27.4%) Shares 101,600 (-17.7%) Est. Cost $50.34 Unrealized —

MRK MERCK & CO INC 2.5%

Value $15.2M (-16.8%) Shares 118,272 (-22.1%) Est. Cost $67.89 Unrealized —

PNW PINNACLE WEST CAP CORP 2.1%

Value $12.94M (-18.9%) Shares 120,930 (-23.6%) Est. Cost $69.61 Unrealized —

AMGN AMGEN INC 1.4%

Value $8.64M (-24.1%) Shares 23,860 (-26.3%) Est. Cost $217.10 Unrealized —

XRAY DENTSPLY SIRONA INC 1.8%

Value $10.77M (-19.6%) Shares 1,015,350 (-12.0%) Est. Cost $18.09 Unrealized —

AEP AMERICAN ELEC PWR CO INC 1.7%

Value $10.2M (-19.2%) Shares 74,540 (-22.5%) Est. Cost $93.27 Unrealized —

KVUE KENVUE INC 2.0%

Value $12.18M (-16.4%) Shares 637,615 (-24.6%) Est. Cost $19.29 Unrealized —

APD AIR PRODUCTS AND CHEMICALS I 2.2%

Value $13.13M (-15.2%) Shares 44,780 (-16.0%) Est. Cost $258.99 Unrealized —

AIG AMERICAN INTL GROUP INC 1.5%

Value $8.821M (-20.5%) Shares 118,350 (-19.7%) Est. Cost $46.45 Unrealized —

BDX BECTON DICKINSON & CO 2.6%

Value $15.59M (-12.5%) Shares 103,019 (-9.1%) Est. Cost $177.37 Unrealized —

NXPI NXP SEMICONDUCTORS N V 2.5%

Value $14.85M (+17.6%) Shares 52,839 (-17.6%) Est. Cost $172.40 Unrealized —

TFC TRUIST FINL CORP 1.9%

Value $11.23M (-14.9%) Shares 225,450 (-21.4%) Est. Cost $41.18 Unrealized —

UNP UNION PAC CORP 1.6%

Value $9.692M (-16.1%) Shares 35,632 (-25.2%) Est. Cost $128.70 Unrealized —

MMM 3M CO 2.5%

Value $15.39M (-10.6%) Shares 95,058 (-19.8%) Est. Cost $116.46 Unrealized —

PEP PEPSICO INC 0.8%

Value $4.864M (-26.7%) Shares 35,920 (-15.9%) Est. Cost $82.65 Unrealized —

INGR INGREDION INC 0.8%

Value $4.949M (-26.1%) Shares 52,250 (-12.1%) Est. Cost $84.58 Unrealized —

WFC WELLS FARGO & CO 1.8%

Value $10.95M (-13.1%) Shares 132,450 (-16.3%) Est. Cost $50.64 Unrealized —

O REALTY INCOME CORP 0.8%

Value $4.912M (-24.9%) Shares 79,283 (-25.8%) Est. Cost $54.90 Unrealized —

PKG PACKAGING CORP AMER 1.5%

Value $9.211M (-14.3%) Shares 38,657 (-23.7%) Est. Cost $135.18 Unrealized —

C CITIGROUP INC 2.3%

Value $14.11M (-9.6%) Shares 100,850 (-26.8%) Est. Cost $51.87 Unrealized —

VICI VICI PPTYS INC 1.2%

Value $7.313M (-17.0%) Shares 275,450 (-14.6%) Est. Cost $19.32 Unrealized —

WY WEYERHAEUSER CO 1.4%

Value $8.596M (-14.6%) Shares 359,085 (-12.9%) Est. Cost $28.02 Unrealized —

PH PARKER-HANNIFIN CORP 0.8%

Value $4.91M (-23.0%) Shares 5,020 (-29.5%) Est. Cost $194.21 Unrealized —

GPK GRAPHIC PACKAGING HLDG CO 1.0%

Value $5.854M (-19.7%) Shares 553,800 (-24.5%) Est. Cost $16.82 Unrealized —

DRI DARDEN RESTAURANTS INC 1.0%

Value $5.833M (-19.4%) Shares 28,315 (-23.3%) Est. Cost $130.30 Unrealized —

TXN TEXAS INSTRS INC 1.9%

Value $11.82M (+12.6%) Shares 39,640 (-26.6%) Est. Cost $126.97 Unrealized —

RDN RADIAN GROUP INC 1.9%

Value $11.42M (-9.0%) Shares 303,200 (-20.1%) Est. Cost $18.48 Unrealized —

CAH CARDINAL HEALTH INC 1.0%

Value $6.084M (-14.1%) Shares 25,610 (-23.6%) Est. Cost $44.60 Unrealized —

USB US BANCORP 1.6%

Value $9.57M (-9.4%) Shares 158,445 (-22.0%) Est. Cost $43.40 Unrealized —

BAM BROOKFIELD ASSET MANAGMT LTD 0.7%

Value $4.359M (-17.3%) Shares 97,200 (-18.0%) Est. Cost $32.71 Unrealized —

MET METLIFE INC 1.4%

Value $8.715M (-9.4%) Shares 103,000 (-24.3%) Est. Cost $35.98 Unrealized —

KTB KONTOOR BRANDS INC 3.9%

Value $23.65M (-3.4%) Shares 283,756 (-18.5%) Est. Cost $52.91 Unrealized —

DEO DIAGEO PLC 1.8%

Value $10.8M (-6.7%) Shares 134,400 (-13.6%) Est. Cost $97.79 Unrealized —

CSCO CISCO SYS INC 2.0%

Value $12.15M (-6.0%) Shares 103,472 (-37.9%) Est. Cost $21.18 Unrealized —

INTC INTEL CORP 0.1%

Value $480K (+92.4%) Shares 3,435 (-39.2%) Est. Cost $37.76 Unrealized —

HR HEALTHCARE RLTY TR 3.1%

Value $18.71M (-1.0%) Shares 927,438 (-16.6%) Est. Cost $15.75 Unrealized —

COHR COHERENT CORP 0.2%

Value $943K (+23.3%) Shares 2,390 (-25.5%) Est. Cost $60.02 Unrealized —

ADBE ADOBE INC 0.1%

Value $539K (-24.3%) Shares 2,630 (-10.2%) Est. Cost $321.92 Unrealized —

IBM INTERNATIONAL BUSINESS MACHS 2.2%

Value $13.52M (+1.1%) Shares 48,078 (-12.9%) Est. Cost $109.85 Unrealized —

DVN DEVON ENERGY CORP NEW 0.1%

Value $336K (-26.9%) Shares 8,133 (-10.9%) Est. Cost $33.93 Unrealized —

CBOE CBOE GLOBAL MKTS INC 0.1%

Value $502K (-18.4%) Shares 2,067 (-5.5%) Est. Cost $206.46 Unrealized —

CLVT CLARIVATE PLC 0.1%

Value $356K (-23.7%) Shares 164,740 (-10.6%) Est. Cost $4.44 Unrealized —

NTAP NETAPP INC 1.6%

Value $9.972M (-1.0%) Shares 64,435 (-34.5%) Est. Cost $70.97 Unrealized —

NVT NVENT ELEC PLC 0.2%

Value $1.234M (-5.0%) Shares 7,273 (-33.7%) Est. Cost $48.39 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CVX	CHEVRON CORPORATION	78,195 (-23.7%)	$12.96M (-38.9%)	2.1%	$112.88	—	COM	166764100
CRBG	COREBRIDGE FINL INC	41,150 (-88.9%)	$1.178M (-86.7%)	0.2%	$17.54	—	COM	21871X109
COP	CONOCOPHILLIPS	136,625 (-17.0%)	$14.2M (-34.6%)	2.3%	$57.59	—	COM	20825C104
T	AT&T INC	666,780 (-9.1%)	$13.8M (-35.1%)	2.3%	$15.60	—	COM	00206R102
MDT	MEDTRONIC PLC	263,532 (-18.6%)	$20.62M (-26.5%)	3.4%	$79.08	—	SHS	G5960L103
NKE	NIKE INC	363,320 (-9.7%)	$14.91M (-29.8%)	2.5%	$63.27	—	CL B	654106103
PSX	PHILLIPS 66	52,845 (-36.5%)	$8.933M (-41.1%)	1.5%	$63.61	—	COM	718546104
CME	CME GROUP INC	69,333 (-1.9%)	$15.31M (-26.7%)	2.5%	$160.69	—	COM	12572Q105
RTX	RTX CORPORATION	93,614 (-22.5%)	$17.76M (-23.8%)	2.9%	$64.75	—	COM	75513E101
KMI	KINDER MORGAN INC DEL	558,715 (-15.8%)	$17.86M (-19.7%)	2.9%	$13.59	—	COM	49456B101
LHX	L3HARRIS TECHNOLOGIES INC	44,353 (-8.8%)	$12.89M (-23.2%)	2.1%	$198.01	—	COM	502431109
PFE	PFIZER INC	425,750 (-14.1%)	$10.25M (-26.4%)	1.7%	$25.58	—	COM	717081103
HAS	HASBRO INC	101,600 (-17.7%)	$8.391M (-27.4%)	1.4%	$50.34	—	COM	418056107
MRK	MERCK & CO INC	118,272 (-22.1%)	$15.2M (-16.8%)	2.5%	$67.89	—	COM	58933Y105
PNW	PINNACLE WEST CAP CORP	120,930 (-23.6%)	$12.94M (-18.9%)	2.1%	$69.61	—	COM	723484101
AMGN	AMGEN INC	23,860 (-26.3%)	$8.64M (-24.1%)	1.4%	$217.10	—	COM	031162100
XRAY	DENTSPLY SIRONA INC	1,015,350 (-12.0%)	$10.77M (-19.6%)	1.8%	$18.09	—	COM	24906P109
AEP	AMERICAN ELEC PWR CO INC	74,540 (-22.5%)	$10.2M (-19.2%)	1.7%	$93.27	—	COM	025537101
KVUE	KENVUE INC	637,615 (-24.6%)	$12.18M (-16.4%)	2.0%	$19.29	—	COM	49177J102
APD	AIR PRODUCTS AND CHEMICALS I	44,780 (-16.0%)	$13.13M (-15.2%)	2.2%	$258.99	—	COM	009158106
AIG	AMERICAN INTL GROUP INC	118,350 (-19.7%)	$8.821M (-20.5%)	1.5%	$46.45	—	COM NEW	026874784
BDX	BECTON DICKINSON & CO	103,019 (-9.1%)	$15.59M (-12.5%)	2.6%	$177.37	—	COM	075887109
NXPI	NXP SEMICONDUCTORS N V	52,839 (-17.6%)	$14.85M (+17.6%)	2.5%	$172.40	—	COM	N6596X109
TFC	TRUIST FINL CORP	225,450 (-21.4%)	$11.23M (-14.9%)	1.9%	$41.18	—	COM	89832Q109
UNP	UNION PAC CORP	35,632 (-25.2%)	$9.692M (-16.1%)	1.6%	$128.70	—	COM	907818108
MMM	3M CO	95,058 (-19.8%)	$15.39M (-10.6%)	2.5%	$116.46	—	COM	88579Y101
PEP	PEPSICO INC	35,920 (-15.9%)	$4.864M (-26.7%)	0.8%	$82.65	—	COM	713448108
INGR	INGREDION INC	52,250 (-12.1%)	$4.949M (-26.1%)	0.8%	$84.58	—	COM	457187102
WFC	WELLS FARGO & CO	132,450 (-16.3%)	$10.95M (-13.1%)	1.8%	$50.64	—	COM	949746101
O	REALTY INCOME CORP	79,283 (-25.8%)	$4.912M (-24.9%)	0.8%	$54.90	—	COM	756109104
PKG	PACKAGING CORP AMER	38,657 (-23.7%)	$9.211M (-14.3%)	1.5%	$135.18	—	COM	695156109
C	CITIGROUP INC	100,850 (-26.8%)	$14.11M (-9.6%)	2.3%	$51.87	—	COM NEW	172967424
VICI	VICI PPTYS INC	275,450 (-14.6%)	$7.313M (-17.0%)	1.2%	$19.32	—	COM	925652109
WY	WEYERHAEUSER CO	359,085 (-12.9%)	$8.596M (-14.6%)	1.4%	$28.02	—	COM NEW	962166104
PH	PARKER-HANNIFIN CORP	5,020 (-29.5%)	$4.91M (-23.0%)	0.8%	$194.21	—	COM	701094104
GPK	GRAPHIC PACKAGING HLDG CO	553,800 (-24.5%)	$5.854M (-19.7%)	1.0%	$16.82	—	COM	388689101
DRI	DARDEN RESTAURANTS INC	28,315 (-23.3%)	$5.833M (-19.4%)	1.0%	$130.30	—	COM	237194105
TXN	TEXAS INSTRS INC	39,640 (-26.6%)	$11.82M (+12.6%)	1.9%	$126.97	—	COM	882508104
RDN	RADIAN GROUP INC	303,200 (-20.1%)	$11.42M (-9.0%)	1.9%	$18.48	—	COM	750236101
CAH	CARDINAL HEALTH INC	25,610 (-23.6%)	$6.084M (-14.1%)	1.0%	$44.60	—	COM	14149Y108
USB	US BANCORP	158,445 (-22.0%)	$9.57M (-9.4%)	1.6%	$43.40	—	COM NEW	902973304
BAM	BROOKFIELD ASSET MANAGMT LTD	97,200 (-18.0%)	$4.359M (-17.3%)	0.7%	$32.71	—	CL A LMT VTG SHS	113004105
MET	METLIFE INC	103,000 (-24.3%)	$8.715M (-9.4%)	1.4%	$35.98	—	COM	59156R108
KTB	KONTOOR BRANDS INC	283,756 (-18.5%)	$23.65M (-3.4%)	3.9%	$52.91	—	COM	50050N103
DEO	DIAGEO PLC	134,400 (-13.6%)	$10.8M (-6.7%)	1.8%	$97.79	—	SPON ADR NEW	25243Q205
CSCO	CISCO SYS INC	103,472 (-37.9%)	$12.15M (-6.0%)	2.0%	$21.18	—	COM	17275R102
INTC	INTEL CORP	3,435 (-39.2%)	$480K (+92.4%)	0.1%	$37.76	—	COM	458140100
HR	HEALTHCARE RLTY TR	927,438 (-16.6%)	$18.71M (-1.0%)	3.1%	$15.75	—	CL A COM	42226K105
COHR	COHERENT CORP	2,390 (-25.5%)	$943K (+23.3%)	0.2%	$60.02	—	COM	19247G107
ADBE	ADOBE INC	2,630 (-10.2%)	$539K (-24.3%)	0.1%	$321.92	—	COM	00724F101
IBM	INTERNATIONAL BUSINESS MACHS	48,078 (-12.9%)	$13.52M (+1.1%)	2.2%	$109.85	—	COM	459200101
DVN	DEVON ENERGY CORP NEW	8,133 (-10.9%)	$336K (-26.9%)	0.1%	$33.93	—	COM	25179M103
CBOE	CBOE GLOBAL MKTS INC	2,067 (-5.5%)	$502K (-18.4%)	0.1%	$206.46	—	COM	12503M108
CLVT	CLARIVATE PLC	164,740 (-10.6%)	$356K (-23.7%)	0.1%	$4.44	—	ORD SHS	G21810109
NTAP	NETAPP INC	64,435 (-34.5%)	$9.972M (-1.0%)	1.6%	$70.97	—	COM	64110D104
NVT	NVENT ELEC PLC	7,273 (-33.7%)	$1.234M (-5.0%)	0.2%	$48.39	—	SHS	G6700G107

Unchanged Positions (15)

HSY HERSHEY CO 2.7%

Value $16.15M Shares 92,065 Est. Cost $177.97 Unrealized —

REGN REGENERON PHARMACEUTICALS 0.1%

Value $807K Shares 1,295 Est. Cost $481.30 Unrealized —

TPL TEXAS PACIFIC LAND CORPORATI 0.3%

Value $2.043M Shares 4,669 Est. Cost $276.89 Unrealized —

GOOGL ALPHABET INC 0.1%

Value $878K Shares 2,456 Est. Cost $129.19 Unrealized —

ABBV ABBVIE INC 0.2%

Value $1.263M Shares 5,019 Est. Cost $48.09 Unrealized —

CMI CUMMINS INC 0.1%

Value $635K Shares 891 Est. Cost $330.97 Unrealized —

IBKR INTERACTIVE BROKERS GROUP IN 0.1%

Value $598K Shares 6,872 Est. Cost $44.45 Unrealized —

JPM JPMORGAN CHASE & CO 0.2%

Value $1.279M Shares 3,907 Est. Cost $48.36 Unrealized —

BAC BANK OF AMER CORP 0.1%

Value $316K Shares 5,550 Est. Cost $28.08 Unrealized —

AZN ASTRAZENECA PLC 0.1%

Value $745K Shares 3,930 Est. Cost $190.39 Unrealized —

AMP AMERIPRISE FINL INC 0.1%

Value $729K Shares 1,590 Est. Cost $128.61 Unrealized —

TEL TE CONNECTIVITY PLC 0.1%

Value $349K Shares 1,730 Est. Cost $146.90 Unrealized —

BMY BRISTOL-MYERS SQUIBB CO 0.0%

Value $213K Shares 3,700 Est. Cost $57.43 Unrealized —

WEC WEC ENERGY GROUP INC 0.1%

Value $545K Shares 4,665 Est. Cost $103.11 Unrealized —

MDLZ MONDELEZ INTL INC 0.1%

Value $509K Shares 8,808 Est. Cost $49.82 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HSY	HERSHEY CO	92,065	$16.15M	2.7%	$177.97	—	COM	427866108
REGN	REGENERON PHARMACEUTICALS	1,295	$807K	0.1%	$481.30	—	COM	75886F107
TPL	TEXAS PACIFIC LAND CORPORATI	4,669	$2.043M	0.3%	$276.89	—	COM	88262P102
GOOGL	ALPHABET INC	2,456	$878K	0.1%	$129.19	—	CAP STK CL A	02079K305
ABBV	ABBVIE INC	5,019	$1.263M	0.2%	$48.09	—	COM	00287Y109
CMI	CUMMINS INC	891	$635K	0.1%	$330.97	—	COM	231021106
IBKR	INTERACTIVE BROKERS GROUP IN	6,872	$598K	0.1%	$44.45	—	COM CL A	45841N107
JPM	JPMORGAN CHASE & CO	3,907	$1.279M	0.2%	$48.36	—	COM	46625H100
BAC	BANK OF AMER CORP	5,550	$316K	0.1%	$28.08	—	COM	060505104
AZN	ASTRAZENECA PLC	3,930	$745K	0.1%	$190.39	—	ORD	G0593M107
AMP	AMERIPRISE FINL INC	1,590	$729K	0.1%	$128.61	—	COM	03076C106
TEL	TE CONNECTIVITY PLC	1,730	$349K	0.1%	$146.90	—	ORD SHS	G87052109
BMY	BRISTOL-MYERS SQUIBB CO	3,700	$213K	0.0%	$57.43	—	COM	110122108
WEC	WEC ENERGY GROUP INC	4,665	$545K	0.1%	$103.11	—	COM	92939U106
MDLZ	MONDELEZ INTL INC	8,808	$509K	0.1%	$49.82	—	CL A	609207105