CINCINNATI INSURANCE CO Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	LAM RESEARCH ORD	2,492,110	$333,694	5.1%	$72.70	—	—	US5128073
CB	CHUBB ORD	139,267	$39,308	0.6%	$96.06	+204.4%	—	H1467J104
KINS	KINGSTONE COMPANIES ORD	84,161	$1,237	0.0%	$14.55	+4.1%	—	496719105

Decreased Positions (1)

PFE PFIZER ORD 1.2%

Value ($000) $80,570 (-9.2%) Shares 3,235,725 (-7.1%) Est. Cost $17.29 Unrealized +44.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PFE	PFIZER ORD	3,235,725 (-7.1%)	$80,570 (-9.2%)	1.2%	$17.29	+44.8%	COMMON	717081103

Unchanged Positions (57)

CMI CUMMINS ORD 4.7%

Value ($000) $309,537 Shares 606,400 Est. Cost $75.52 Unrealized +517.5%

MSFT MICROSOFT ORD 8.7%

Value ($000) $572,605 Shares 1,183,997 Est. Cost $28.47 Unrealized +1658.4%

JNJ JOHNSON & JOHNSON ORD 3.4%

Value ($000) $220,609 Shares 1,066,000 Est. Cost $62.75 Unrealized +214.0%

RTX RTX ORD 3.1%

Value ($000) $205,759 Shares 1,121,916 Est. Cost $57.34 Unrealized +202.3%

ADI ANALOG DEVICES ORD 2.3%

Value ($000) $153,123 Shares 564,614 Est. Cost $70.83 Unrealized +253.8%

RPM RPM ORD 1.6%

Value ($000) $107,464 Shares 1,033,303 Est. Cost $32.11 Unrealized +237.2%

HD HOME DEPOT ORD 1.2%

Value ($000) $77,920 Shares 226,446 Est. Cost $135.79 Unrealized +168.5%

ACN ACCENTURE CL A ORD 2.5%

Value ($000) $165,210 Shares 615,765 Est. Cost $66.12 Unrealized +284.2%

DG DOLLAR GENERAL ORD 0.9%

Value ($000) $57,963 Shares 436,567 Est. Cost $114.96 Unrealized -3.0%

APD AIR PRODUCTS AND CHEMICALS ORD 1.8%

Value ($000) $115,910 Shares 469,232 Est. Cost $139.80 Unrealized +80.0%

CSCO CISCO SYSTEMS ORD 1.6%

Value ($000) $102,758 Shares 1,334,000 Est. Cost $16.94 Unrealized +335.6%

USB US BANCORP ORD 1.8%

Value ($000) $117,365 Shares 2,199,500 Est. Cost $23.81 Unrealized +104.6%

BLK BLACKROCK ORD 1.9%

Value ($000) $123,945 Shares 115,800 Est. Cost $991.05 Unrealized +9.9%

PG PROCTER & GAMBLE ORD 2.2%

Value ($000) $147,252 Shares 1,027,504 Est. Cost $55.00 Unrealized +167.6%

DOV DOVER ORD 1.1%

Value ($000) $72,001 Shares 368,780 Est. Cost $40.09 Unrealized +353.6%

JPM JPMORGAN CHASE ORD 7.4%

Value ($000) $487,258 Shares 1,512,189 Est. Cost $36.24 Unrealized +754.1%

MDLZ MONDELEZ INTERNATIONAL CL A ORD 1.0%

Value ($000) $62,416 Shares 1,159,500 Est. Cost $51.53 Unrealized +10.7%

ABT ABBOTT LABORATORIES ORD 2.2%

Value ($000) $144,986 Shares 1,157,200 Est. Cost $28.85 Unrealized +341.3%

AJG ARTHUR J GALLAGHER ORD 0.7%

Value ($000) $47,542 Shares 183,710 Est. Cost $300.20 Unrealized -12.0%

WEC WEC ENERGY GROUP ORD 1.6%

Value ($000) $103,172 Shares 978,300 Est. Cost $33.96 Unrealized +224.7%

XOM EXXON MOBIL ORD 2.2%

Value ($000) $141,063 Shares 1,172,200 Est. Cost $53.69 Unrealized +115.1%

TJX TJX ORD 2.3%

Value ($000) $147,926 Shares 963,000 Est. Cost $46.12 Unrealized +220.3%

AAPL APPLE ORD 1.7%

Value ($000) $114,181 Shares 420,000 Est. Cost $83.04 Unrealized +223.2%

ADP AUTOMATIC DATA PROCESSING ORD 0.7%

Value ($000) $46,571 Shares 181,050 Est. Cost $51.12 Unrealized +418.1%

HAS HASBRO ORD 1.3%

Value ($000) $85,851 Shares 1,046,968 Est. Cost $30.22 Unrealized +158.2%

OC OWENS CORNIING ORD 0.4%

Value ($000) $23,725 Shares 212,000 Est. Cost $158.69 Unrealized -26.0%

AVGO BROADCOM ORD 1.8%

Value ($000) $118,539 Shares 342,500 Est. Cost $125.52 Unrealized +184.4%

DUK DUKE ENERGY ORD 1.4%

Value ($000) $93,160 Shares 794,816 Est. Cost $57.74 Unrealized +110.6%

LYB LYONDELLBASELL INDUSTRIES CL A ORD 0.6%

Value ($000) $38,349 Shares 885,666 Est. Cost $52.15 Unrealized -14.8%

MRSH MARSH & MCLENNAN ORD 0.8%

Value ($000) $51,160 Shares 275,766 Est. Cost $204.01 Unrealized -8.6%

ENB ENBRIDGE ORD 1.2%

Value ($000) $78,777 Shares 1,647,025 Est. Cost $24.31 Unrealized +93.8%

ABBV ABBVIE ORD 4.9%

Value ($000) $321,074 Shares 1,405,200 Est. Cost $30.33 Unrealized +650.3%

PEP PEPSICO ORD 2.7%

Value ($000) $178,037 Shares 1,240,500 Est. Cost $56.00 Unrealized +160.6%

HON HONEYWELL INTERNATIONAL ORD 0.7%

Value ($000) $47,797 Shares 245,000 Est. Cost $53.13 Unrealized +267.1%

UNH UNITEDHEALTH GRP ORD 1.1%

Value ($000) $72,651 Shares 220,081 Est. Cost $82.89 Unrealized +306.8%

NSC NORFOLK SOUTHERN ORD 1.2%

Value ($000) $76,338 Shares 264,400 Est. Cost $66.24 Unrealized +335.7%

T AT&T ORD 0.3%

Value ($000) $19,947 Shares 803,000 Est. Cost $11.40 Unrealized +121.8%

VLO VALERO ENERGY ORD 0.9%

Value ($000) $58,041 Shares 356,538 Est. Cost $56.95 Unrealized +196.4%

RF REGIONS FINANCIAL ORD 1.5%

Value ($000) $96,094 Shares 3,545,893 Est. Cost $17.40 Unrealized +45.8%

MMM 3M ORD 1.3%

Value ($000) $83,524 Shares 521,700 Est. Cost $61.26 Unrealized +166.3%

NEE NEXTERA ENERGY ORD 0.6%

Value ($000) $39,417 Shares 491,000 Est. Cost $66.61 Unrealized +23.9%

PLD PROLOGIS REIT 0.3%

Value ($000) $21,447 Shares 168,000 Est. Cost $55.83 Unrealized +121.9%

QCOM QUALCOMM ORD 1.1%

Value ($000) $73,124 Shares 427,500 Est. Cost $44.99 Unrealized +279.6%

WAL WESTERN ALLIANCE ORD 0.9%

Value ($000) $60,951 Shares 725,000 Est. Cost $58.87 Unrealized +37.0%

CVX CHEVRON ORD 1.5%

Value ($000) $96,927 Shares 635,961 Est. Cost $71.30 Unrealized +112.3%

NSA NATIONAL STORAGE AFFILIATES ORD 0.4%

Value ($000) $25,210 Shares 893,654 Est. Cost $35.22 Unrealized —

CMCSA COMCAST CL A ORD 0.5%

Value ($000) $31,011 Shares 1,037,500 Est. Cost $36.63 Unrealized -22.1%

VZ VERIZON COMMUNICATIONS ORD 0.3%

Value ($000) $16,508 Shares 405,301 Est. Cost $27.04 Unrealized +49.7%

AMT AMERICAN TOWER REIT 0.2%

Value ($000) $10,534 Shares 60,000 Est. Cost $114.65 Unrealized +57.3%

ADC AGREE REALTY REIT ORD 0.9%

Value ($000) $56,868 Shares 789,500 Est. Cost $63.75 Unrealized —

MCD MCDONALD'S ORD 1.8%

Value ($000) $118,890 Shares 389,000 Est. Cost $71.89 Unrealized +324.4%

PM PHILIP MORRIS INTERNATIONAL ORD 0.6%

Value ($000) $38,887 Shares 242,435 Est. Cost $48.01 Unrealized +219.9%

PNW PINNACLE WEST ORD 0.4%

Value ($000) $26,330 Shares 296,838 Est. Cost $59.72 Unrealized +49.4%

SNA SNAP ON ORD 0.7%

Value ($000) $42,696 Shares 123,900 Est. Cost $129.93 Unrealized +162.0%

MA MASTERCARD CL A ORD 0.5%

Value ($000) $34,824 Shares 61,000 Est. Cost $390.18 Unrealized +43.3%

CME CME GROUP CL A ORD 0.1%

Value ($000) $8,165 Shares 29,900 Est. Cost $39.16 Unrealized +591.4%

— HL ACQUISITION, INC., DBA HOSTA 0.0%

Value ($000) $587 Shares 20,103 Est. Cost $29.20 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CMI	CUMMINS ORD	606,400	$309,537	4.7%	$75.52	+517.5%	COMMON	231021106
MSFT	MICROSOFT ORD	1,183,997	$572,605	8.7%	$28.47	+1658.4%	COMMON	594918104
JNJ	JOHNSON & JOHNSON ORD	1,066,000	$220,609	3.4%	$62.75	+214.0%	COMMON	478160104
RTX	RTX ORD	1,121,916	$205,759	3.1%	$57.34	+202.3%	COMMON	75513E101
ADI	ANALOG DEVICES ORD	564,614	$153,123	2.3%	$70.83	+253.8%	COMMON	032654105
RPM	RPM ORD	1,033,303	$107,464	1.6%	$32.11	+237.2%	COMMON	749685103
HD	HOME DEPOT ORD	226,446	$77,920	1.2%	$135.79	+168.5%	COMMON	437076102
ACN	ACCENTURE CL A ORD	615,765	$165,210	2.5%	$66.12	+284.2%	COMMON	G1151C101
DG	DOLLAR GENERAL ORD	436,567	$57,963	0.9%	$114.96	-3.0%	COMMON	256677105
APD	AIR PRODUCTS AND CHEMICALS ORD	469,232	$115,910	1.8%	$139.80	+80.0%	COMMON	009158106
CSCO	CISCO SYSTEMS ORD	1,334,000	$102,758	1.6%	$16.94	+335.6%	COMMON	17275R102
USB	US BANCORP ORD	2,199,500	$117,365	1.8%	$23.81	+104.6%	COMMON	902973304
BLK	BLACKROCK ORD	115,800	$123,945	1.9%	$991.05	+9.9%	COMMON	09290D101
PG	PROCTER & GAMBLE ORD	1,027,504	$147,252	2.2%	$55.00	+167.6%	COMMON	742718109
DOV	DOVER ORD	368,780	$72,001	1.1%	$40.09	+353.6%	COMMON	260003108
JPM	JPMORGAN CHASE ORD	1,512,189	$487,258	7.4%	$36.24	+754.1%	COMMON	46625H100
MDLZ	MONDELEZ INTERNATIONAL CL A ORD	1,159,500	$62,416	1.0%	$51.53	+10.7%	COMMON	609207105
ABT	ABBOTT LABORATORIES ORD	1,157,200	$144,986	2.2%	$28.85	+341.3%	COMMON	002824100
AJG	ARTHUR J GALLAGHER ORD	183,710	$47,542	0.7%	$300.20	-12.0%	COMMON	363576109
WEC	WEC ENERGY GROUP ORD	978,300	$103,172	1.6%	$33.96	+224.7%	COMMON	92939U106
XOM	EXXON MOBIL ORD	1,172,200	$141,063	2.2%	$53.69	+115.1%	COMMON	30231G102
TJX	TJX ORD	963,000	$147,926	2.3%	$46.12	+220.3%	COMMON	872540109
AAPL	APPLE ORD	420,000	$114,181	1.7%	$83.04	+223.2%	COMMON	037833100
ADP	AUTOMATIC DATA PROCESSING ORD	181,050	$46,571	0.7%	$51.12	+418.1%	COMMON	053015103
HAS	HASBRO ORD	1,046,968	$85,851	1.3%	$30.22	+158.2%	COMMON	418056107
OC	OWENS CORNIING ORD	212,000	$23,725	0.4%	$158.69	-26.0%	COMMON	690742101
AVGO	BROADCOM ORD	342,500	$118,539	1.8%	$125.52	+184.4%	COMMON	11135F101
DUK	DUKE ENERGY ORD	794,816	$93,160	1.4%	$57.74	+110.6%	COMMON	26441C204
LYB	LYONDELLBASELL INDUSTRIES CL A ORD	885,666	$38,349	0.6%	$52.15	-14.8%	COMMON	N53745100
MRSH	MARSH & MCLENNAN ORD	275,766	$51,160	0.8%	$204.01	-8.6%	COMMON	571748102
ENB	ENBRIDGE ORD	1,647,025	$78,777	1.2%	$24.31	+93.8%	COMMON	29250N105
ABBV	ABBVIE ORD	1,405,200	$321,074	4.9%	$30.33	+650.3%	COMMON	00287Y109
PEP	PEPSICO ORD	1,240,500	$178,037	2.7%	$56.00	+160.6%	COMMON	713448108
HON	HONEYWELL INTERNATIONAL ORD	245,000	$47,797	0.7%	$53.13	+267.1%	COMMON	438516106
UNH	UNITEDHEALTH GRP ORD	220,081	$72,651	1.1%	$82.89	+306.8%	COMMON	91324P102
NSC	NORFOLK SOUTHERN ORD	264,400	$76,338	1.2%	$66.24	+335.7%	COMMON	655844108
T	AT&T ORD	803,000	$19,947	0.3%	$11.40	+121.8%	COMMON	00206R102
VLO	VALERO ENERGY ORD	356,538	$58,041	0.9%	$56.95	+196.4%	COMMON	91913Y100
RF	REGIONS FINANCIAL ORD	3,545,893	$96,094	1.5%	$17.40	+45.8%	COMMON	7591EP100
MMM	3M ORD	521,700	$83,524	1.3%	$61.26	+166.3%	COMMON	88579Y101
NEE	NEXTERA ENERGY ORD	491,000	$39,417	0.6%	$66.61	+23.9%	COMMON	65339F101
PLD	PROLOGIS REIT	168,000	$21,447	0.3%	$55.83	+121.9%	COMMON	74340W103
QCOM	QUALCOMM ORD	427,500	$73,124	1.1%	$44.99	+279.6%	COMMON	747525103
WAL	WESTERN ALLIANCE ORD	725,000	$60,951	0.9%	$58.87	+37.0%	COMMON	957638109
CVX	CHEVRON ORD	635,961	$96,927	1.5%	$71.30	+112.3%	COMMON	166764100
NSA	NATIONAL STORAGE AFFILIATES ORD	893,654	$25,210	0.4%	$35.22	—	COMMON	637870106
CMCSA	COMCAST CL A ORD	1,037,500	$31,011	0.5%	$36.63	-22.1%	COMMON	20030N101
VZ	VERIZON COMMUNICATIONS ORD	405,301	$16,508	0.3%	$27.04	+49.7%	COMMON	92343V104
AMT	AMERICAN TOWER REIT	60,000	$10,534	0.2%	$114.65	+57.3%	COMMON	03027X100
ADC	AGREE REALTY REIT ORD	789,500	$56,868	0.9%	$63.75	—	COMMON	008492100
MCD	MCDONALD'S ORD	389,000	$118,890	1.8%	$71.89	+324.4%	COMMON	580135101
PM	PHILIP MORRIS INTERNATIONAL ORD	242,435	$38,887	0.6%	$48.01	+219.9%	COMMON	718172109
PNW	PINNACLE WEST ORD	296,838	$26,330	0.4%	$59.72	+49.4%	COMMON	723484101
SNA	SNAP ON ORD	123,900	$42,696	0.7%	$129.93	+162.0%	COMMON	833034101
MA	MASTERCARD CL A ORD	61,000	$34,824	0.5%	$390.18	+43.3%	COMMON	57636Q104
CME	CME GROUP CL A ORD	29,900	$8,165	0.1%	$39.16	+591.4%	COMMON	12572Q105
—	HL ACQUISITION, INC., DBA HOSTA	20,103	$587	0.0%	$29.20	—	COMMON	9941487P3