Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
AMAT	APPLIED MATLS INC	21,776 (-12.1%)	$15.74M (+85.9%)	5.1%	$13.39	—	COM	038222105
INTC	INTEL CORP	81,850 (-15.5%)	$11.43M (+167.4%)	3.7%	$22.85	—	COM	458140100
GLW	CORNING INC	52,800 (-20.7%)	$13.49M (+48.9%)	4.3%	$19.23	—	COM	219350105
CSCO	CISCO SYS INC	88,400 (-7.9%)	$10.38M (+39.4%)	3.3%	$20.03	—	COM	17275R102
SYK	STRYKER CORPORATION	61,139 (-4.2%)	$19.25M (-8.2%)	6.2%	$56.92	—	COM	863667101
NUE	NUCOR CORP	23,435 (-13.6%)	$5.22M (+13.8%)	1.7%	$33.44	—	COM	670346105
MSFT	MICROSOFT CORP	37,990 (-1.3%)	$14.17M (-0.5%)	4.6%	$26.78	—	COM	594918104

Unchanged Positions (29)

PGR PROGRESSIVE CORP 36.0%

Value $112M Shares 511,457 Est. Cost $20.79 Unrealized —

AAPL APPLE INC 4.6%

Value $14.2M Shares 49,070 Est. Cost $83.94 Unrealized —

ABBV ABBVIE INC 3.0%

Value $9.286M Shares 36,900 Est. Cost $27.59 Unrealized —

HPE HEWLETT PACKARD ENTERPRISE C 0.8%

Value $2.576M Shares 57,100 Est. Cost $6.50 Unrealized —

IBM INTERNATIONAL BUSINESS MACHS 2.7%

Value $8.314M Shares 29,564 Est. Cost $106.49 Unrealized —

T AT&T INC 0.6%

Value $1.846M Shares 89,200 Est. Cost $17.03 Unrealized —

PFE PFIZER INC 1.4%

Value $4.294M Shares 178,308 Est. Cost $23.20 Unrealized —

MRK MERCK & CO INC 2.9%

Value $8.931M Shares 69,500 Est. Cost $40.53 Unrealized —

EMR EMERSON ELEC CO 2.0%

Value $6.155M Shares 43,000 Est. Cost $40.11 Unrealized —

XOM EXXON MOBIL CORP 0.6%

Value $1.939M Shares 14,185 Est. Cost $53.69 Unrealized —

ING ING GROEP N.V. 0.8%

Value $2.573M Shares 82,000 Est. Cost $9.09 Unrealized —

NTRS NORTHERN TR CORP 0.7%

Value $2.208M Shares 12,700 Est. Cost $40.35 Unrealized —

VZ VERIZON COMMUNICATIONS INC 0.7%

Value $2.135M Shares 50,431 Est. Cost $30.05 Unrealized —

ABT ABBOTT LABORATORIES 1.0%

Value $2.967M Shares 32,700 Est. Cost $29.01 Unrealized —

JNJ JOHNSON & JOHNSON 3.2%

Value $9.787M Shares 38,538 Est. Cost $59.66 Unrealized —

A AGILENT TECHNOLOGIES INC 0.8%

Value $2.378M Shares 17,900 Est. Cost $28.37 Unrealized —

UPS UNITED PARCEL SVCS INC 0.8%

Value $2.51M Shares 23,350 Est. Cost $76.38 Unrealized —

GE GE AEROSPACE 0.3%

Value $928K Shares 2,484 Est. Cost $47.56 Unrealized —

GEV GE VERNOVA INC 0.2%

Value $728K Shares 620 Est. Cost $415.97 Unrealized —

MRSH MARSH & MCLENNAN COS INC 1.4%

Value $4.217M Shares 25,300 Est. Cost $31.19 Unrealized —

BMY BRISTOL-MYERS SQUIBB CO 1.0%

Value $3.129M Shares 54,300 Est. Cost $29.30 Unrealized —

HPQ HP INC 0.4%

Value $1.264M Shares 57,600 Est. Cost $9.12 Unrealized —

KO COCA COLA CO 0.7%

Value $2.284M Shares 28,100 Est. Cost $27.88 Unrealized —

GSK GSK PLC 0.7%

Value $2.174M Shares 41,480 Est. Cost $29.44 Unrealized —

TMO THERMO FISHER SCIENTIFIC INC 1.4%

Value $4.45M Shares 8,875 Est. Cost $79.76 Unrealized —

PG PROCTER & GAMBLE CO 0.8%

Value $2.405M Shares 16,400 Est. Cost $55.64 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC DEL 0.2%

Value $676K Shares 1,350 Est. Cost $217.17 Unrealized —

PHG KONINKLIJKE PHILIPS N V 0.8%

Value $2.364M Shares 86,961 Est. Cost $21.46 Unrealized —

ORCL ORACLE CORP 0.1%

Value $407K Shares 2,780 Est. Cost $36.49 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
PGR	PROGRESSIVE CORP	511,457	$112M	36.0%	$20.79	—	COM	743315103
AAPL	APPLE INC	49,070	$14.2M	4.6%	$83.94	—	COM	037833100
ABBV	ABBVIE INC	36,900	$9.286M	3.0%	$27.59	—	COM	00287Y109
HPE	HEWLETT PACKARD ENTERPRISE C	57,100	$2.576M	0.8%	$6.50	—	COM	42824C109
IBM	INTERNATIONAL BUSINESS MACHS	29,564	$8.314M	2.7%	$106.49	—	COM	459200101
T	AT&T INC	89,200	$1.846M	0.6%	$17.03	—	COM	00206R102
PFE	PFIZER INC	178,308	$4.294M	1.4%	$23.20	—	COM	717081103
MRK	MERCK & CO INC	69,500	$8.931M	2.9%	$40.53	—	COM	58933Y105
EMR	EMERSON ELEC CO	43,000	$6.155M	2.0%	$40.11	—	COM	291011104
XOM	EXXON MOBIL CORP	14,185	$1.939M	0.6%	$53.69	—	COM	30231G102
ING	ING GROEP N.V.	82,000	$2.573M	0.8%	$9.09	—	SPONSORED ADR	456837103
NTRS	NORTHERN TR CORP	12,700	$2.208M	0.7%	$40.35	—	COM	665859104
VZ	VERIZON COMMUNICATIONS INC	50,431	$2.135M	0.7%	$30.05	—	COM	92343V104
ABT	ABBOTT LABORATORIES	32,700	$2.967M	1.0%	$29.01	—	COM	002824100
JNJ	JOHNSON & JOHNSON	38,538	$9.787M	3.2%	$59.66	—	COM	478160104
A	AGILENT TECHNOLOGIES INC	17,900	$2.378M	0.8%	$28.37	—	COM	00846U101
UPS	UNITED PARCEL SVCS INC	23,350	$2.51M	0.8%	$76.38	—	CL B	911312106
GE	GE AEROSPACE	2,484	$928K	0.3%	$47.56	—	COM NEW	369604301
GEV	GE VERNOVA INC	620	$728K	0.2%	$415.97	—	COM	36828A101
MRSH	MARSH & MCLENNAN COS INC	25,300	$4.217M	1.4%	$31.19	—	COM	571748102
BMY	BRISTOL-MYERS SQUIBB CO	54,300	$3.129M	1.0%	$29.30	—	COM	110122108
HPQ	HP INC	57,600	$1.264M	0.4%	$9.12	—	COM	40434L105
KO	COCA COLA CO	28,100	$2.284M	0.7%	$27.88	—	COM	191216100
GSK	GSK PLC	41,480	$2.174M	0.7%	$29.44	—	SPONSORED ADR	37733W204
TMO	THERMO FISHER SCIENTIFIC INC	8,875	$4.45M	1.4%	$79.76	—	COM	883556102
PG	PROCTER & GAMBLE CO	16,400	$2.405M	0.8%	$55.64	—	COM	742718109
BRK/B	BERKSHIRE HATHAWAY INC DEL	1,350	$676K	0.2%	$217.17	—	CL B NEW	084670702
PHG	KONINKLIJKE PHILIPS N V	86,961	$2.364M	0.8%	$21.46	—	NY REGIS SHS NEW	500472303
ORCL	ORACLE CORP	2,780	$407K	0.1%	$36.49	—	COM	68389X105