Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CLX	CLOROX CO DEL	1,171,414	$112M	2.1%	$95.44	—	COM	189054109
DVN	DEVON ENERGY CORP NEW	2,586,470	$107M	2.0%	$41.32	—	COM	25179M103
NKE	NIKE INC	2,424,640	$99.53M	1.9%	$41.05	—	CL B	654106103
PAYC	PAYCOM SOFTWARE INC	295,071	$37.08M	0.7%	$125.68	—	COM	70432V102
IHF	ISHARES TR	6,961	$385K	0.0%	$55.33	—	US HLTHCR PR ETF	464288828
STZ	CONSTELLATION BRANDS INC	1,858	$258K	0.0%	$139.09	—	CL A	21036P108
IWB	ISHARES TR	606	$248K	0.0%	$409.49	—	RUS 1000 ETF	464287622
SJM	SMUCKER J M CO	1,782	$200K	0.0%	$112.50	—	COM NEW	832696405

Increased Positions (20)

BAX BAXTER INTL INC 2.8%

Value $147M (+37.2%) Shares 6,886,265 (+8.1%) Est. Cost $27.88 Unrealized —

T AT&T INC 2.0%

Value $104M (-22.4%) Shares 5,029,754 (+8.7%) Est. Cost $16.49 Unrealized —

DEO DIAGEO PLC 2.6%

Value $134M (+22.6%) Shares 1,667,509 (+13.6%) Est. Cost $88.57 Unrealized —

GPC GENUINE PARTS CO 2.2%

Value $115M (+26.4%) Shares 974,085 (+13.3%) Est. Cost $121.30 Unrealized —

MDT MEDTRONIC PLC 3.1%

Value $162M (+16.9%) Shares 2,070,582 (+29.5%) Est. Cost $75.95 Unrealized —

SOLV SOLVENTUM CORP 1.3%

Value $68.05M (+34.3%) Shares 882,020 (+13.7%) Est. Cost $78.24 Unrealized —

TTE TOTALENERGIES SE 2.7%

Value $140M (-9.9%) Shares 1,806,067 (+5.4%) Est. Cost $63.98 Unrealized —

HSY HERSHEY CO 1.9%

Value $100M (-11.9%) Shares 572,436 (+4.4%) Est. Cost $165.77 Unrealized —

INGR INGREDION INC 1.6%

Value $82.5M (-13.5%) Shares 871,065 (+2.9%) Est. Cost $87.51 Unrealized —

ADBE ADOBE INC 1.3%

Value $67.45M (-13.7%) Shares 329,000 (+2.3%) Est. Cost $287.96 Unrealized —

UL UNILEVER PLC 2.3%

Value $120M (+8.1%) Shares 1,996,952 (+2.4%) Est. Cost $64.82 Unrealized —

SCHW SCHWAB CHARLES CORP 1.4%

Value $75.17M (+13.4%) Shares 814,627 (+15.5%) Est. Cost $56.35 Unrealized —

WFC WELLS FARGO & CO 2.4%

Value $124M (+6.8%) Shares 1,504,825 (+2.9%) Est. Cost $38.72 Unrealized —

GSK GSK PLC 3.3%

Value $171M (-3.6%) Shares 3,269,765 (+1.5%) Est. Cost $32.72 Unrealized —

B BARRICK MNG CORP 1.3%

Value $65.8M (-7.8%) Shares 1,791,566 (+2.4%) Est. Cost $19.69 Unrealized —

BF/B BROWN FORMAN CORP 1.3%

Value $69.05M (+7.7%) Shares 2,590,913 (+6.9%) Est. Cost $31.04 Unrealized —

JLL JONES LANG LASALLE INC 1.5%

Value $81.06M (+3.2%) Shares 261,514 (+1.4%) Est. Cost $290.34 Unrealized —

DG DOLLAR GEN CORP 1.9%

Value $102M (-1.8%) Shares 882,256 (+1.3%) Est. Cost $117.41 Unrealized —

PYPL PAYPAL HLDGS INC 2.7%

Value $142M (+0.5%) Shares 3,297,997 (+5.3%) Est. Cost $59.13 Unrealized —

GPN GLOBAL PMTS INC 0.0%

Value $1.021M (+9.3%) Shares 14,067 (+1.4%) Est. Cost $98.96 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BAX	BAXTER INTL INC	6,886,265 (+8.1%)	$147M (+37.2%)	2.8%	$27.88	—	COM	071813109
T	AT&T INC	5,029,754 (+8.7%)	$104M (-22.4%)	2.0%	$16.49	—	COM	00206R102
DEO	DIAGEO PLC	1,667,509 (+13.6%)	$134M (+22.6%)	2.6%	$88.57	—	SPON ADR NEW	25243Q205
GPC	GENUINE PARTS CO	974,085 (+13.3%)	$115M (+26.4%)	2.2%	$121.30	—	COM	372460105
MDT	MEDTRONIC PLC	2,070,582 (+29.5%)	$162M (+16.9%)	3.1%	$75.95	—	SHS	G5960L103
SOLV	SOLVENTUM CORP	882,020 (+13.7%)	$68.05M (+34.3%)	1.3%	$78.24	—	COM SHS	83444M101
TTE	TOTALENERGIES SE	1,806,067 (+5.4%)	$140M (-9.9%)	2.7%	$63.98	—	ACT	F92124100
HSY	HERSHEY CO	572,436 (+4.4%)	$100M (-11.9%)	1.9%	$165.77	—	COM	427866108
INGR	INGREDION INC	871,065 (+2.9%)	$82.5M (-13.5%)	1.6%	$87.51	—	COM	457187102
ADBE	ADOBE INC	329,000 (+2.3%)	$67.45M (-13.7%)	1.3%	$287.96	—	COM	00724F101
UL	UNILEVER PLC	1,996,952 (+2.4%)	$120M (+8.1%)	2.3%	$64.82	—	SPON ADR NEW	904767803
SCHW	SCHWAB CHARLES CORP	814,627 (+15.5%)	$75.17M (+13.4%)	1.4%	$56.35	—	COM	808513105
WFC	WELLS FARGO & CO	1,504,825 (+2.9%)	$124M (+6.8%)	2.4%	$38.72	—	COM	949746101
GSK	GSK PLC	3,269,765 (+1.5%)	$171M (-3.6%)	3.3%	$32.72	—	SPONSORED ADR	37733W204
B	BARRICK MNG CORP	1,791,566 (+2.4%)	$65.8M (-7.8%)	1.3%	$19.69	—	COM SHS	06849F108
BF/B	BROWN FORMAN CORP	2,590,913 (+6.9%)	$69.05M (+7.7%)	1.3%	$31.04	—	CL B	115637209
JLL	JONES LANG LASALLE INC	261,514 (+1.4%)	$81.06M (+3.2%)	1.5%	$290.34	—	COM	48020Q107
DG	DOLLAR GEN CORP	882,256 (+1.3%)	$102M (-1.8%)	1.9%	$117.41	—	COM	256677105
PYPL	PAYPAL HLDGS INC	3,297,997 (+5.3%)	$142M (+0.5%)	2.7%	$59.13	—	COM	70450Y103
GPN	GLOBAL PMTS INC	14,067 (+1.4%)	$1.021M (+9.3%)	0.0%	$98.96	—	COM	37940X102

Exited Positions (3)

CTRA COTERRA ENERGY INC 2.5%

Value $133M Shares 3,789,894 Est. Cost $18.88 Unrealized —

GDX VANECK ETF TRUST 0.0%

Value $233K Shares 2,535 Est. Cost $76.40 Unrealized —

CSCO CISCO SYS INC 0.0%

Value $210K Shares 2,707 Est. Cost $73.79 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CTRA	COTERRA ENERGY INC	3,789,894	$133M	2.5%	$18.88	—	—	127097103
GDX	VANECK ETF TRUST	2,535	$233K	0.0%	$76.40	—	—	92189F106
CSCO	CISCO SYS INC	2,707	$210K	0.0%	$73.79	—	—	17275R102

Decreased Positions (33)

SGOV ISHARES TR 0.5%

Value $26.71M (-80.3%) Shares 265,303 (-80.3%) Est. Cost $100.65 Unrealized —

HMC HONDA MOTOR CO LTD 0.1%

Value $4.403M (-92.5%) Shares 162,412 (-93.3%) Est. Cost $27.60 Unrealized —

DOC HEALTHPEAK PROPERTIES INC 3.1%

Value $160M (+27.2%) Shares 7,487,967 (-2.3%) Est. Cost $17.25 Unrealized —

ICLR ICON PUB LTD CO 2.9%

Value $154M (+27.3%) Shares 888,875 (-18.9%) Est. Cost $149.55 Unrealized —

IWD ISHARES TR 1.1%

Value $58.48M (-31.7%) Shares 241,235 (-39.8%) Est. Cost $201.16 Unrealized —

PNC PNC FINL SVCS GROUP INC 2.9%

Value $152M (+15.7%) Shares 616,797 (-2.2%) Est. Cost $115.42 Unrealized —

TGT TARGET CORP 2.5%

Value $133M (-12.5%) Shares 1,019,376 (-18.8%) Est. Cost $111.21 Unrealized —

NFG NATIONAL FUEL GAS CO 1.5%

Value $78.21M (-18.7%) Shares 1,012,957 (-1.0%) Est. Cost $47.75 Unrealized —

SHEL SHELL PLC 1.6%

Value $82.48M (-17.5%) Shares 1,063,701 (-1.0%) Est. Cost $56.85 Unrealized —

SNY SANOFI SA 2.1%

Value $111M (-13.5%) Shares 2,601,971 (-2.3%) Est. Cost $49.16 Unrealized —

PPG PPG INDS INC 2.6%

Value $137M (+11.5%) Shares 1,126,001 (-1.7%) Est. Cost $114.04 Unrealized —

ZBH ZIMMER BIOMET HOLDINGS INC 2.8%

Value $145M (-8.2%) Shares 1,681,360 (-3.6%) Est. Cost $100.98 Unrealized —

UPS UNITED PARCEL SVCS INC 3.2%

Value $170M (+7.3%) Shares 1,579,697 (-1.8%) Est. Cost $105.47 Unrealized —

GL GLOBE LIFE INC 2.3%

Value $123M (+8.1%) Shares 688,216 (-15.8%) Est. Cost $88.80 Unrealized —

USB US BANCORP 3.0%

Value $159M (-5.0%) Shares 2,633,098 (-18.2%) Est. Cost $37.39 Unrealized —

TFC TRUIST FINL CORP 2.1%

Value $112M (+7.2%) Shares 2,256,163 (-1.1%) Est. Cost $37.21 Unrealized —

OSK OSHKOSH CORP 1.8%

Value $91.73M (+2.6%) Shares 597,697 (-1.6%) Est. Cost $86.89 Unrealized —

TRV TRAVELERS COMPANIES INC 2.1%

Value $109M (+1.8%) Shares 331,603 (-10.0%) Est. Cost $106.79 Unrealized —

GD GENERAL DYNAMICS CORP 0.0%

Value $1.038M (-41.3%) Shares 2,930 (-43.1%) Est. Cost $171.13 Unrealized —

WPC WP CAREY INC 2.1%

Value $108M (+0.5%) Shares 1,512,565 (-4.4%) Est. Cost $56.25 Unrealized —

VT VANGUARD INTL EQUITY INDEX F 0.1%

Value $4.083M (-8.8%) Shares 26,012 (-19.6%) Est. Cost $117.49 Unrealized —

IUSV ISHARES TR 0.1%

Value $3.972M (-8.3%) Shares 36,057 (-14.9%) Est. Cost $96.65 Unrealized —

WMB WILLIAMS COS INC 0.0%

Value $2.492M (-10.7%) Shares 33,527 (-12.6%) Est. Cost $17.45 Unrealized —

RSP INVESCO EXCHANGE TRADED FD T 0.1%

Value $3.912M (-5.8%) Shares 18,387 (-15.0%) Est. Cost $175.01 Unrealized —

BSV VANGUARD BD INDEX FDS 0.0%

Value $822K (-16.0%) Shares 10,545 (-15.5%) Est. Cost $78.11 Unrealized —

BND VANGUARD BD INDEX FDS 0.0%

Value $821K (-15.9%) Shares 11,189 (-15.6%) Est. Cost $73.68 Unrealized —

VUSB VANGUARD BD INDEX FDS 0.0%

Value $2.137M (-5.6%) Shares 42,938 (-5.6%) Est. Cost $50.02 Unrealized —

VMBS VANGUARD SCOTTSDALE FDS 0.1%

Value $3.065M (-2.8%) Shares 65,475 (-2.5%) Est. Cost $46.39 Unrealized —

VTIP VANGUARD MALVERN FDS 0.0%

Value $2.188M (-3.6%) Shares 43,550 (-4.1%) Est. Cost $48.10 Unrealized —

VCSH VANGUARD SCOTTSDALE FDS 0.1%

Value $3.104M (-1.9%) Shares 39,271 (-1.6%) Est. Cost $74.45 Unrealized —

EXPE EXPEDIA GROUP INC 0.0%

Value $325K (+7.7%) Shares 1,269 (-2.8%) Est. Cost $246.88 Unrealized —

FITB FIFTH THIRD BANCORP 0.0%

Value $253K (-5.5%) Shares 4,491 (-22.1%) Est. Cost $51.27 Unrealized —

DLTR DOLLAR TREE INC 0.0%

Value $303K (-3.1%) Shares 2,503 (-12.3%) Est. Cost $106.30 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SGOV	ISHARES TR	265,303 (-80.3%)	$26.71M (-80.3%)	0.5%	$100.65	—	0-3 MTH TREASURY	46436E718
HMC	HONDA MOTOR CO LTD	162,412 (-93.3%)	$4.403M (-92.5%)	0.1%	$27.60	—	ADR ECH CNV IN 3	438128308
DOC	HEALTHPEAK PROPERTIES INC	7,487,967 (-2.3%)	$160M (+27.2%)	3.1%	$17.25	—	COM	42250P103
ICLR	ICON PUB LTD CO	888,875 (-18.9%)	$154M (+27.3%)	2.9%	$149.55	—	SHS	G4705A100
IWD	ISHARES TR	241,235 (-39.8%)	$58.48M (-31.7%)	1.1%	$201.16	—	RUS 1000 VAL ETF	464287598
PNC	PNC FINL SVCS GROUP INC	616,797 (-2.2%)	$152M (+15.7%)	2.9%	$115.42	—	COM	693475105
TGT	TARGET CORP	1,019,376 (-18.8%)	$133M (-12.5%)	2.5%	$111.21	—	COM	87612E106
NFG	NATIONAL FUEL GAS CO	1,012,957 (-1.0%)	$78.21M (-18.7%)	1.5%	$47.75	—	COM	636180101
SHEL	SHELL PLC	1,063,701 (-1.0%)	$82.48M (-17.5%)	1.6%	$56.85	—	SPON ADS	780259305
SNY	SANOFI SA	2,601,971 (-2.3%)	$111M (-13.5%)	2.1%	$49.16	—	SPONSORED ADR	80105N105
PPG	PPG INDS INC	1,126,001 (-1.7%)	$137M (+11.5%)	2.6%	$114.04	—	COM	693506107
ZBH	ZIMMER BIOMET HOLDINGS INC	1,681,360 (-3.6%)	$145M (-8.2%)	2.8%	$100.98	—	COM	98956P102
UPS	UNITED PARCEL SVCS INC	1,579,697 (-1.8%)	$170M (+7.3%)	3.2%	$105.47	—	CL B	911312106
GL	GLOBE LIFE INC	688,216 (-15.8%)	$123M (+8.1%)	2.3%	$88.80	—	COM	37959E102
USB	US BANCORP	2,633,098 (-18.2%)	$159M (-5.0%)	3.0%	$37.39	—	COM NEW	902973304
TFC	TRUIST FINL CORP	2,256,163 (-1.1%)	$112M (+7.2%)	2.1%	$37.21	—	COM	89832Q109
OSK	OSHKOSH CORP	597,697 (-1.6%)	$91.73M (+2.6%)	1.8%	$86.89	—	COM	688239201
TRV	TRAVELERS COMPANIES INC	331,603 (-10.0%)	$109M (+1.8%)	2.1%	$106.79	—	COM	89417E109
GD	GENERAL DYNAMICS CORP	2,930 (-43.1%)	$1.038M (-41.3%)	0.0%	$171.13	—	COM	369550108
WPC	WP CAREY INC	1,512,565 (-4.4%)	$108M (+0.5%)	2.1%	$56.25	—	COM	92936U109
VT	VANGUARD INTL EQUITY INDEX F	26,012 (-19.6%)	$4.083M (-8.8%)	0.1%	$117.49	—	TT WRLD ST ETF	922042742
IUSV	ISHARES TR	36,057 (-14.9%)	$3.972M (-8.3%)	0.1%	$96.65	—	CORE S&P US VLU	464287663
WMB	WILLIAMS COS INC	33,527 (-12.6%)	$2.492M (-10.7%)	0.0%	$17.45	—	COM	969457100
RSP	INVESCO EXCHANGE TRADED FD T	18,387 (-15.0%)	$3.912M (-5.8%)	0.1%	$175.01	—	S&P500 EQL WGT	46137V357
BSV	VANGUARD BD INDEX FDS	10,545 (-15.5%)	$822K (-16.0%)	0.0%	$78.11	—	SHORT TRM BOND	921937827
BND	VANGUARD BD INDEX FDS	11,189 (-15.6%)	$821K (-15.9%)	0.0%	$73.68	—	TOTAL BND MRKT	921937835
VUSB	VANGUARD BD INDEX FDS	42,938 (-5.6%)	$2.137M (-5.6%)	0.0%	$50.02	—	VANGUARD ULTRA	92203C303
VMBS	VANGUARD SCOTTSDALE FDS	65,475 (-2.5%)	$3.065M (-2.8%)	0.1%	$46.39	—	MTG-BKD SECS ETF	92206C771
VTIP	VANGUARD MALVERN FDS	43,550 (-4.1%)	$2.188M (-3.6%)	0.0%	$48.10	—	STRM INFPROIDX	922020805
VCSH	VANGUARD SCOTTSDALE FDS	39,271 (-1.6%)	$3.104M (-1.9%)	0.1%	$74.45	—	SHRT TRM CORP BD	92206C409
EXPE	EXPEDIA GROUP INC	1,269 (-2.8%)	$325K (+7.7%)	0.0%	$246.88	—	COM NEW	30212P303
FITB	FIFTH THIRD BANCORP	4,491 (-22.1%)	$253K (-5.5%)	0.0%	$51.27	—	COM	316773100
DLTR	DOLLAR TREE INC	2,503 (-12.3%)	$303K (-3.1%)	0.0%	$106.30	—	COM	256746108

Unchanged Positions (15)

VZ VERIZON COMMUNICATIONS INC 3.7%

Value $195M Shares 4,602,787 Est. Cost $34.99 Unrealized —

KVUE KENVUE INC 2.8%

Value $145M Shares 7,600,073 Est. Cost $18.53 Unrealized —

AGNC AGNC INVT CORP 2.0%

Value $106M Shares 9,736,044 Est. Cost $11.28 Unrealized —

NNN NNN REIT INC 1.5%

Value $77.57M Shares 1,667,015 Est. Cost $38.06 Unrealized —

FDS FACTSET RESH SYS INC 1.3%

Value $65.63M Shares 285,233 Est. Cost $247.11 Unrealized —

HIG HARTFORD INSURANCE GROUP INC 1.4%

Value $75.5M Shares 569,715 Est. Cost $42.63 Unrealized —

AXP AMERICAN EXPRESS CO 0.0%

Value $1.182M Shares 3,495 Est. Cost $89.37 Unrealized —

TSM TAIWAN SEMICONDUCTOR MANUFAC 0.0%

Value $331K Shares 693 Est. Cost $303.89 Unrealized —

KEY KEYCORP 0.0%

Value $286K Shares 12,413 Est. Cost $12.80 Unrealized —

OVV OVINTIV INC 0.0%

Value $201K Shares 3,825 Est. Cost $43.67 Unrealized —

VOD VODAFONE GROUP PLC 0.0%

Value $171K Shares 12,920 Est. Cost $13.21 Unrealized —

HBAN HUNTINGTON BANCSHARES INC 0.0%

Value $201K Shares 11,346 Est. Cost $16.81 Unrealized —

SNN SMITH & NEPHEW PLC 0.0%

Value $209K Shares 7,242 Est. Cost $26.85 Unrealized —

JNJ JOHNSON & JOHNSON 0.0%

Value $424K Shares 1,671 Est. Cost $106.46 Unrealized —

WTM WHITE MTNS INS GROUP LTD 0.0%

Value $205K Shares 99 Est. Cost $1955.46 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
VZ	VERIZON COMMUNICATIONS INC	4,602,787	$195M	3.7%	$34.99	—	COM	92343V104
KVUE	KENVUE INC	7,600,073	$145M	2.8%	$18.53	—	COM	49177J102
AGNC	AGNC INVT CORP	9,736,044	$106M	2.0%	$11.28	—	COM	00123Q104
NNN	NNN REIT INC	1,667,015	$77.57M	1.5%	$38.06	—	COM	637417106
FDS	FACTSET RESH SYS INC	285,233	$65.63M	1.3%	$247.11	—	COM	303075105
HIG	HARTFORD INSURANCE GROUP INC	569,715	$75.5M	1.4%	$42.63	—	COM	416515104
AXP	AMERICAN EXPRESS CO	3,495	$1.182M	0.0%	$89.37	—	COM	025816109
TSM	TAIWAN SEMICONDUCTOR MANUFAC	693	$331K	0.0%	$303.89	—	SPONSORED ADS	874039100
KEY	KEYCORP	12,413	$286K	0.0%	$12.80	—	COM	493267108
OVV	OVINTIV INC	3,825	$201K	0.0%	$43.67	—	COM	69047Q102
VOD	VODAFONE GROUP PLC	12,920	$171K	0.0%	$13.21	—	SPONSORED ADR	92857W308
HBAN	HUNTINGTON BANCSHARES INC	11,346	$201K	0.0%	$16.81	—	COM	446150104
SNN	SMITH & NEPHEW PLC	7,242	$209K	0.0%	$26.85	—	SPDN ADR NEW	83175M205
JNJ	JOHNSON & JOHNSON	1,671	$424K	0.0%	$106.46	—	COM	478160104
WTM	WHITE MTNS INS GROUP LTD	99	$205K	0.0%	$1955.46	—	COM	G9618E107