# EDGAR Filing Document

**Accession Number:** 0001206792
**File Stem:** 0001104659-26-059082
**Filing Date:** 2026-5
**Character Count:** 31885
**Document Hash:** 69e02f1d87d392f2c6b4a80b065efdfd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-059082.hdr.sgml**: 20260512

**ACCESSION NUMBER**: 0001104659-26-059082

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260512

**DATE AS OF CHANGE**: 20260512

**EFFECTIVENESS DATE**: 20260512

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DEARBORN PARTNERS LLC
- **CENTRAL INDEX KEY:** 0001206792

**ORGANIZATION NAME:**
- **EIN:** 364145621
- **STATE OF INCORPORATION:** IL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-10306
- **FILM NUMBER:** 26966241

**BUSINESS ADDRESS:**
- **STREET 1:** 200 W MADISON
- **STREET 2:** SUITE 1950
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 312-795-1000

**MAIL ADDRESS:**
- **STREET 1:** 200 W MADISON
- **STREET 2:** SUITE 1950
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** DEARBORN PARTNERS LLC<br>**Address:** 200 W Madison<br>Suite 1950<br>Chicago, IL 60606

**Form 13F File Number:** 028-10306

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Don McKinnon<br>**Title:** Chief Compliance Officer<br>**Phone:** 312-795-5348

**Signature, Place, and Date of Signing:**

/s/ Don McKinnon  Chicago, IL  05-12-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 287

**Form 13F Information Table Value Total:** $1847289142

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| AFLAC Inc. | COM | 001055102 |  | 214054 | 1951 | SH |  | SOLE |  | 1951 | 0 | 0 |
| ASCENDIS PHARMA A/S SPONSORED | COM | 04351P101 |  | 297349 | 1300 | SH |  | SOLE |  | 1300 | 0 | 0 |
| ASML Holding NV | COM | N07059210 |  | 896844 | 679 | SH |  | SOLE |  | 679 | 0 | 0 |
| AT Inc | COM | 00206R102 |  | 839750 | 28967 | SH |  | SOLE |  | 28967 | 0 | 0 |
| AbbVie Inc | COM | 00287Y109 |  | 27926127 | 128402 | SH |  | SOLE |  | 125550 | 0 | 2852 |
| Abbott Labs | COM | 002824100 |  | 22302316 | 217223 | SH |  | SOLE |  | 215122 | 0 | 2101 |
| Accenture PLC Cl A | COM | G1151C101 |  | 25107570 | 126620 | SH |  | SOLE |  | 124412 | 0 | 2209 |
| Advanced Micro Devices | COM | 007903107 |  | 1018371 | 5006 | SH |  | SOLE |  | 5006 | 0 | 0 |
| Air Products  Chemicals Inc | COM | 009158106 |  | 6170607 | 21242 | SH |  | SOLE |  | 20427 | 0 | 815 |
| Alcon Inc | COM | H01301128 |  | 477870 | 6342 | SH |  | SOLE |  | 6342 | 0 | 0 |
| Allstate Corp | COM | 020002101 |  | 386482 | 1864 | SH |  | SOLE |  | 1864 | 0 | 0 |
| Alphabet Inc CL A | COM | 02079K305 |  | 13504563 | 46963 | SH |  | SOLE |  | 46963 | 0 | 0 |
| Alphabet Inc CL C NON Voting | COM | 02079K107 |  | 2332746 | 8132 | SH |  | SOLE |  | 8132 | 0 | 0 |
| Altria Group Inc | COM | 02209S103 |  | 288046 | 4365 | SH |  | SOLE |  | 4365 | 0 | 0 |
| Amazon.com | COM | 023135106 |  | 4189559 | 20116 | SH |  | SOLE |  | 20116 | 0 | 0 |
| Ameren Corp | COM | 023608102 |  | 601812 | 5475 | SH |  | SOLE |  | 2813 | 0 | 2662 |
| American Electric Power | COM | 025537101 |  | 599795 | 4576 | SH |  | SOLE |  | 4576 | 0 | 0 |
| American Express Co | COM | 025816109 |  | 259830 | 859 | SH |  | SOLE |  | 859 | 0 | 0 |
| American Water Works Co | COM | 030420103 |  | 17179355 | 126235 | SH |  | SOLE |  | 122622 | 0 | 3613 |
| Amgen | COM | 031162100 |  | 691033 | 1964 | SH |  | SOLE |  | 1964 | 0 | 0 |
| Amphenol Corp Cl A | COM | 032095101 |  | 35022482 | 277186 | SH |  | SOLE |  | 272320 | 0 | 4866 |
| Analog Devices Inc | COM | 032654105 |  | 1219525 | 3833 | SH |  | SOLE |  | 3347 | 0 | 487 |
| Apple Inc. | COM | 037833100 |  | 107106820 | 422029 | SH |  | SOLE |  | 417470 | 0 | 4559 |
| Ares Capital Corp. | COM | 04010L103 |  | 216240 | 12000 | SH |  | SOLE |  | 12000 | 0 | 0 |
| Ares Management Corporation | COM | 03990B101 |  | 11100229 | 101744 | SH |  | SOLE |  | 99488 | 0 | 2255 |
| Arthur J. Gallagher  Co | COM | 363576109 |  | 27258408 | 125858 | SH |  | SOLE |  | 124337 | 0 | 1522 |
| Atmos Energy Corporation | COM | 049560105 |  | 34777049 | 188269 | SH |  | SOLE |  | 183664 | 0 | 4605 |
| Automatic Data Processing | COM | 053015103 |  | 35687963 | 175647 | SH |  | SOLE |  | 172697 | 0 | 2950 |
| Becton Dickinson and Co | COM | 075887109 |  | 294335 | 1872 | SH |  | SOLE |  | 1872 | 0 | 0 |
| Berkshire Hathaway Cl B | COM | 084670702 |  | 855372 | 1785 | SH |  | SOLE |  | 1785 | 0 | 0 |
| BlackRock Inc. | COM | 09247X101 |  | 1907474 | 1983 | SH |  | SOLE |  | 1983 | 0 | 0 |
| Blackstone Group Inc | COM | 09260D107 |  | 1206648 | 10494 | SH |  | SOLE |  | 10494 | 0 | 0 |
| Bluerock Private Real Estate F | COM | 09631H100 |  | 233420 | 14053 | SH |  | SOLE |  | 14053 | 0 | 0 |
| Boeing | COM | 097023105 |  | 583014 | 2929 | SH |  | SOLE |  | 2929 | 0 | 0 |
| Bristol Myers Squibb Company | COM | 110122108 |  | 287966 | 4748 | SH |  | SOLE |  | 4748 | 0 | 0 |
| British American Tobacco PLC A | COM | 110448107 |  | 46484 | 795 | SH |  | SOLE |  | 795 | 0 | 0 |
| British American Tobacco PLC A | COM | 110448107 |  | 374033 | 6397 | SH |  | OTR |  | 0 | 0 | 6397 |
| Broadcom Inc | COM | 11135F101 |  | 3862375 | 12479 | SH |  | SOLE |  | 12081 | 0 | 398 |
| Broadridge Financial Solutions | COM | 11133T103 |  | 13333032 | 82060 | SH |  | SOLE |  | 80625 | 0 | 1435 |
| Brookfield Renewable Corp | COM | 11285B108 |  | 336564 | 8450 | SH |  | SOLE |  | 8450 | 0 | 0 |
| Byline Bancorp Inc | COM | 124411109 |  | 201732 | 6390 | SH |  | SOLE |  | 6390 | 0 | 0 |
| CME Group Inc | COM | 12572Q105 |  | 29665082 | 100440 | SH |  | SOLE |  | 98226 | 0 | 2214 |
| CRA International Inc | COM | 12618T105 |  | 359697 | 2222 | SH |  | SOLE |  | 2222 | 0 | 0 |
| Capital Southwest Corporation | COM | 140501107 |  | 429581 | 19420 | SH |  | SOLE |  | 12306 | 0 | 7115 |
| Carpenter Technology C Com | COM | 144285103 |  | 1399233 | 3550 | SH |  | SOLE |  | 3550 | 0 | 0 |
| Carrier Global Corp Com | COM | 14448C104 |  | 2164162 | 38433 | SH |  | SOLE |  | 38433 | 0 | 0 |
| Casey's General Stores Inc | COM | 147528103 |  | 56597378 | 77759 | SH |  | SOLE |  | 75420 | 0 | 2338 |
| Caterpillar Inc | COM | 149123101 |  | 20292593 | 28643 | SH |  | SOLE |  | 28643 | 0 | 0 |
| Chevron Corp | COM | 166764100 |  | 6817580 | 32951 | SH |  | SOLE |  | 32951 | 0 | 0 |
| Cintas Corp | COM | 172908105 |  | 20822984 | 123111 | SH |  | SOLE |  | 120780 | 0 | 2331 |
| Cisco Systems | COM | 17275R102 |  | 979807 | 12628 | SH |  | SOLE |  | 12628 | 0 | 0 |
| Citigroup Inc. | COM | 172967424 |  | 931777 | 8216 | SH |  | SOLE |  | 8216 | 0 | 0 |
| Clorox Co | COM | 189054109 |  | 346850 | 3347 | SH |  | SOLE |  | 3347 | 0 | 0 |
| Coca Cola Co | COM | 191216100 |  | 3689770 | 48518 | SH |  | SOLE |  | 48518 | 0 | 0 |
| Cognizant Tech Solutions Cl A | COM | 192446102 |  | 373437 | 6087 | SH |  | SOLE |  | 6087 | 0 | 0 |
| Colgate Palmolive Co | COM | 194162103 |  | 374597 | 4395 | SH |  | SOLE |  | 4395 | 0 | 0 |
| Corteva Inc | COM | 22052L104 |  | 34649159 | 413919 | SH |  | SOLE |  | 398715 | 0 | 15204 |
| Costco Wholesale Corp | COM | 22160K105 |  | 31949184 | 32064 | SH |  | SOLE |  | 31683 | 0 | 381 |
| Cummins Inc | COM | 231021106 |  | 698888 | 1299 | SH |  | SOLE |  | 1299 | 0 | 0 |
| Deere  Co | COM | 244199105 |  | 2768400 | 4915 | SH |  | SOLE |  | 3872 | 0 | 1042 |
| Digital Realty Trust Inc | COM | 253868103 |  | 343300 | 1905 | SH |  | SOLE |  | 1905 | 0 | 0 |
| Dow Chemical | COM | 260557103 |  | 946496 | 22725 | SH |  | SOLE |  | 22725 | 0 | 0 |
| Duke Energy Corp | COM | 26441C204 |  | 1191949 | 9103 | SH |  | SOLE |  | 7415 | 0 | 1688 |
| EOG Resources Inc | COM | 26875P101 |  | 16508783 | 114192 | SH |  | SOLE |  | 112226 | 0 | 1966 |
| Eastman Chemical Co | COM | 277432100 |  | 309096 | 4050 | SH |  | SOLE |  | 4050 | 0 | 0 |
| Eaton Corp PLC | COM | G29183103 |  | 1027944 | 2874 | SH |  | SOLE |  | 2874 | 0 | 0 |
| Ecolab Inc | COM | 278865100 |  | 21070646 | 79207 | SH |  | SOLE |  | 77989 | 0 | 1218 |
| Elevance Health Inc | COM | 036752103 |  | 353642 | 1208 | SH |  | SOLE |  | 1208 | 0 | 0 |
| Eli Lilly  Co | COM | 532457108 |  | 4149082 | 4511 | SH |  | SOLE |  | 4511 | 0 | 0 |
| Emerson Electric Co | COM | 291011104 |  | 1113801 | 8501 | SH |  | SOLE |  | 8501 | 0 | 0 |
| Enbridge Inc. | COM | 29250N105 |  | 537610 | 9930 | SH |  | SOLE |  | 9930 | 0 | 0 |
| Enterprise Products Partners L | COM | 293792107 |  | 644098 | 17022 | SH |  | SOLE |  | 17022 | 0 | 0 |
| Equinix Inc | COM | 29444U700 |  | 19988896 | 20392 | SH |  | SOLE |  | 20069 | 0 | 323 |
| Exxon Mobil Corp | COM | 30231G102 |  | 45729258 | 269535 | SH |  | SOLE |  | 263656 | 0 | 5878 |
| Fastenal Company | COM | 311900104 |  | 17496309 | 377076 | SH |  | SOLE |  | 371418 | 0 | 5658 |
| Federal Signal Corp. | COM | 313855108 |  | 208278 | 1926 | SH |  | SOLE |  | 1926 | 0 | 0 |
| FirstService Corp | COM | 33767E202 |  | 461142 | 3319 | SH |  | SOLE |  | 3319 | 0 | 0 |
| GCM Grosvenor Inc | COM | 36831E108 |  | 168070 | 17150 | SH |  | SOLE |  | 17150 | 0 | 0 |
| Ge Vernova Inc Com | COM | 36828A101 |  | 1041370 | 1193 | SH |  | SOLE |  | 1193 | 0 | 0 |
| General Dynamics Corp | COM | 369550108 |  | 15245146 | 44418 | SH |  | SOLE |  | 44418 | 0 | 0 |
| General Electric Co | COM | 369604301 |  | 370320 | 1305 | SH |  | SOLE |  | 1305 | 0 | 0 |
| Gilead Sciences Incorporated | COM | 375558103 |  | 9738444 | 69875 | SH |  | SOLE |  | 67881 | 0 | 1994 |
| Goldman Sachs Group | COM | 38141G104 |  | 809612 | 957 | SH |  | SOLE |  | 957 | 0 | 0 |
| Gsk Adr Repreenting 2 Ord Shrs | COM | 37733W204 |  | 1180624 | 21392 | SH |  | SOLE |  | 21392 | 0 | 0 |
| Hershey Company | COM | 427866108 |  | 2612903 | 12569 | SH |  | SOLE |  | 12569 | 0 | 0 |
| Home Depot Inc | COM | 437076102 |  | 22912998 | 69668 | SH |  | SOLE |  | 68057 | 0 | 1611 |
| Honeywell Intl Inc | COM | 438516106 |  | 1340981 | 5933 | SH |  | SOLE |  | 5933 | 0 | 0 |
| Howmet Aerospace Inc | COM | 443201108 |  | 211235 | 917 | SH |  | SOLE |  | 917 | 0 | 0 |
| Illinois Tool Works Inc | COM | 452308109 |  | 29923136 | 114961 | SH |  | SOLE |  | 113558 | 0 | 1402 |
| India Globalization Capital In | COM | 45408X308 |  | 15622 | 59401 | SH |  | SOLE |  | 59401 | 0 | 0 |
| Intel Corp | COM | 458140400 |  | 227889 | 5164 | SH |  | SOLE |  | 5164 | 0 | 0 |
| Intellia Therapeutics Com | COM | 45826J105 |  | 49960 | 3897 | SH |  | SOLE |  | 3897 | 0 | 0 |
| Intellia Therapeutics Com | COM | 45826J105 |  | 142264 | 11097 | SH |  | OTR |  | 0 | 0 | 11097 |
| International Business Machine | COM | 459200101 |  | 11044960 | 45567 | SH |  | SOLE |  | 44114 | 0 | 1453 |
| Intuit | COM | 461202103 |  | 18026880 | 41692 | SH |  | SOLE |  | 41187 | 0 | 505 |
| Intuitive Surgical Inc | COM | 46120E602 |  | 312090 | 677 | SH |  | SOLE |  | 677 | 0 | 0 |
| J P Morgan Chase  Co | COM | 46625H100 |  | 24461090 | 83156 | SH |  | SOLE |  | 83156 | 0 | 0 |
| Jack Henry  Assoc Inc Com | COM | 426281101 |  | 14552467 | 92081 | SH |  | SOLE |  | 90795 | 0 | 1286 |
| Johnson  Johnson | COM | 478160104 |  | 19479193 | 79689 | SH |  | SOLE |  | 79689 | 0 | 0 |
| Johnson  Johnson | COM | 478160104 |  | 42777 | 175 | SH |  | OTR |  | 175 | 0 | 0 |
| Kimberly-Clark Corp | COM | 494368103 |  | 589528 | 6111 | SH |  | SOLE |  | 6111 | 0 | 0 |
| Kimberly-Clark Corp | COM | 494368103 |  | 3859 | 40 | SH |  | OTR |  | 40 | 0 | 0 |
| Kinder Morgan Inc | COM | 49456B101 |  | 211747 | 6315 | SH |  | SOLE |  | 6315 | 0 | 0 |
| Kinsale Cap Group Inc Com | COM | 49714P108 |  | 352251 | 1031 | SH |  | SOLE |  | 1031 | 0 | 0 |
| Linde PLC | COM | G5494J103 |  | 4916452 | 9917 | SH |  | SOLE |  | 9917 | 0 | 0 |
| Lockheed Martin Corp | COM | 539830109 |  | 1119465 | 1852 | SH |  | SOLE |  | 1852 | 0 | 0 |
| Lowe's Companies Inc. | COM | 548661107 |  | 733413 | 3104 | SH |  | SOLE |  | 3104 | 0 | 0 |
| Lowe's Companies Inc. | COM | 548661107 |  | 100419 | 425 | SH |  | OTR |  | 425 | 0 | 0 |
| LyondellBasell Industries NV | COM | N53745100 |  | 824129 | 10230 | SH |  | SOLE |  | 10230 | 0 | 0 |
| Main Street Capital Corp | COM | 56035L104 |  | 1526943 | 28832 | SH |  | SOLE |  | 16364 | 0 | 12469 |
| Mastercard Inc | COM | 57636Q104 |  | 32276097 | 64596 | SH |  | SOLE |  | 63959 | 0 | 637 |
| McCormick  Company Inc | COM | 579780107 |  | 18286860 | 362547 | SH |  | SOLE |  | 355501 | 0 | 7046 |
| McDonalds Corp | COM | 580135101 |  | 48164721 | 154975 | SH |  | SOLE |  | 152919 | 0 | 2056 |
| Medtronic PLC | COM | G5960L103 |  | 4392344 | 50691 | SH |  | SOLE |  | 45592 | 0 | 5099 |
| Merck  Co Inc | COM | 58933Y105 |  | 4215296 | 35043 | SH |  | SOLE |  | 35043 | 0 | 0 |
| Meta Platforms Ord Shs Class A | COM | 30303M102 |  | 763666 | 1335 | SH |  | SOLE |  | 1335 | 0 | 0 |
| Microsoft Corp | COM | 594918104 |  | 70503066 | 190461 | SH |  | SOLE |  | 188288 | 0 | 2173 |
| Mondelez International Inc A | COM | 609207105 |  | 13468712 | 233670 | SH |  | SOLE |  | 229737 | 0 | 3933 |
| Monolithic Pwr Sys Inc Com | COM | 609839105 |  | 262404 | 240 | SH |  | SOLE |  | 240 | 0 | 0 |
| Moody's Corp | COM | 615369105 |  | 759515 | 1741 | SH |  | SOLE |  | 1220 | 0 | 521 |
| Morningstar Inc. | COM | 617700109 |  | 1467354 | 8680 | SH |  | SOLE |  | 8680 | 0 | 0 |
| Motorola Solutions Inc. | COM | 620076307 |  | 24993841 | 57593 | SH |  | SOLE |  | 56720 | 0 | 873 |
| Nasdaq Inc. | COM | 631103108 |  | 24116544 | 284092 | SH |  | SOLE |  | 280136 | 0 | 3956 |
| Netflix Inc Com | COM | 64110L106 |  | 971788 | 10107 | SH |  | SOLE |  | 10107 | 0 | 0 |
| Newmont Mining Corporation | COM | 651639101 |  | 378875 | 3500 | SH |  | SOLE |  | 3500 | 0 | 0 |
| NextEra Energy Inc | COM | 65339F101 |  | 21031719 | 226440 | SH |  | SOLE |  | 226440 | 0 | 0 |
| Norfolk Southern Corp | COM | 655844108 |  | 886721 | 3090 | SH |  | SOLE |  | 3090 | 0 | 0 |
| Northern Trust | COM | 665859104 |  | 1275925 | 9142 | SH |  | SOLE |  | 9142 | 0 | 0 |
| Northrop Grumman Corp | COM | 666807102 |  | 285408 | 418 | SH |  | SOLE |  | 418 | 0 | 0 |
| Novartis AG ADR | COM | 66987V109 |  | 4946198 | 32381 | SH |  | SOLE |  | 32381 | 0 | 0 |
| Novartis AG ADR | COM | 66987V109 |  | 431824 | 2827 | SH |  | OTR |  | 0 | 0 | 2827 |
| Nvidia Corp | COM | 67066G104 |  | 7913418 | 45375 | SH |  | SOLE |  | 45375 | 0 | 0 |
| O'Reilly Automotive Inc | COM | 67103H107 |  | 597061 | 6468 | SH |  | SOLE |  | 6468 | 0 | 0 |
| ONEOK Inc. | COM | 682680103 |  | 7860349 | 86960 | SH |  | SOLE |  | 78797 | 0 | 8164 |
| Old Dominion Freight Line Inc | COM | 679580100 |  | 462316 | 2366 | SH |  | SOLE |  | 2366 | 0 | 0 |
| Oracle Corp | COM | 68389X105 |  | 297456 | 2022 | SH |  | SOLE |  | 2022 | 0 | 0 |
| Otis Worldwide Corp Com | COM | 68902V107 |  | 452074 | 5865 | SH |  | SOLE |  | 5865 | 0 | 0 |
| PPG Industries Inc | COM | 693506107 |  | 497847 | 4658 | SH |  | SOLE |  | 4658 | 0 | 0 |
| Palantir Technologies Cl A | COM | 69608A108 |  | 351950 | 2406 | SH |  | SOLE |  | 2406 | 0 | 0 |
| Palantir Technologies Cl A | COM | 69608A108 |  | 138088 | 944 | SH |  | OTR |  | 0 | 0 | 944 |
| Parker Hannifin Corp | COM | 701094104 |  | 1180822 | 1319 | SH |  | SOLE |  | 1319 | 0 | 0 |
| PayChex Inc | COM | 704326107 |  | 642602 | 6976 | SH |  | SOLE |  | 4314 | 0 | 2662 |
| PepsiCo Inc | COM | 713448108 |  | 8060031 | 51903 | SH |  | SOLE |  | 51903 | 0 | 0 |
| Pfizer | COM | 717081103 |  | 1434416 | 51083 | SH |  | SOLE |  | 51083 | 0 | 0 |
| Philip Morris International | COM | 718172109 |  | 330680 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| Phillips 66 | COM | 718546104 |  | 684268 | 3756 | SH |  | SOLE |  | 3756 | 0 | 0 |
| Phillips 66 | COM | 718546104 |  | 11477 | 63 | SH |  | OTR |  | 63 | 0 | 0 |
| Pool Corporation | COM | 73278L105 |  | 467180 | 2309 | SH |  | SOLE |  | 2309 | 0 | 0 |
| Procter  Gamble Co | COM | 742718109 |  | 27840112 | 192745 | SH |  | SOLE |  | 190662 | 0 | 2083 |
| Progressive Corp Ohio Com | COM | 743315103 |  | 1390049 | 7012 | SH |  | SOLE |  | 5313 | 0 | 1699 |
| Prologis Inc. | COM | 74340W103 |  | 202103 | 1529 | SH |  | SOLE |  | 1529 | 0 | 0 |
| Public Storage Inc | COM | 74460D109 |  | 398735 | 1472 | SH |  | SOLE |  | 845 | 0 | 627 |
| Qualcomm Inc. | COM | 747525103 |  | 27260612 | 211684 | SH |  | SOLE |  | 208085 | 0 | 3598 |
| RPM Intl Inc | COM | 749685103 |  | 9282270 | 93383 | SH |  | SOLE |  | 93383 | 0 | 0 |
| Raytheon Technologies Com | COM | 75513E101 |  | 5691029 | 29502 | SH |  | SOLE |  | 29502 | 0 | 0 |
| Realty Income Corporation | COM | 756109104 |  | 4637793 | 75806 | SH |  | SOLE |  | 72802 | 0 | 3004 |
| Reliance Steel  Aluminum Co | COM | 759509102 |  | 7347339 | 24175 | SH |  | SOLE |  | 24175 | 0 | 0 |
| Relx Plc - Sponsored Adr | COM | 759530108 |  | 27249 | 822 | SH |  | SOLE |  | 822 | 0 | 0 |
| Relx Plc - Sponsored Adr | COM | 759530108 |  | 207917 | 6272 | SH |  | OTR |  | 0 | 0 | 6272 |
| Republic Services Inc | COM | 760759100 |  | 34187396 | 156093 | SH |  | SOLE |  | 152843 | 0 | 3250 |
| Republic Services Inc | COM | 760759100 |  | 21464 | 98 | SH |  | OTR |  | 98 | 0 | 0 |
| Roper Technologies Inc | COM | 776696106 |  | 1571138 | 4440 | SH |  | SOLE |  | 4440 | 0 | 0 |
| Royal Caribbean Cruises Ltd. | COM | V7780T103 |  | 276556 | 1005 | SH |  | SOLE |  | 1005 | 0 | 0 |
| S Global Inc. | COM | 78409v104 |  | 21701082 | 51021 | SH |  | SOLE |  | 50274 | 0 | 746 |
| Salesforce.com Inc | COM | 79466L302 |  | 767214 | 4110 | SH |  | SOLE |  | 4110 | 0 | 0 |
| ServiceNow Inc | COM | 81762P102 |  | 782243 | 7482 | SH |  | SOLE |  | 7482 | 0 | 0 |
| Shell plc | COM | 780259305 |  | 482914 | 5193 | SH |  | SOLE |  | 5193 | 0 | 0 |
| Shell plc | COM | 780259305 |  | 202368 | 2176 | SH |  | OTR |  | 0 | 0 | 2176 |
| Sherwin-Williams Co | COM | 824348106 |  | 28013180 | 87391 | SH |  | SOLE |  | 85894 | 0 | 1497 |
| Shopify Inc | COM | 82509L107 |  | 147563 | 1244 | SH |  | SOLE |  | 1244 | 0 | 0 |
| Shopify Inc | COM | 82509L107 |  | 104860 | 884 | SH |  | OTR |  | 0 | 0 | 884 |
| Sixth Street Specialty Lending | COM | 83012A109 |  | 928342 | 50508 | SH |  | SOLE |  | 36027 | 0 | 14481 |
| Snap-On | COM | 833034101 |  | 34066026 | 93789 | SH |  | SOLE |  | 91871 | 0 | 1917 |
| Solstice Advanced Matl Com Shs | COM | 83443Q103 |  | 217208 | 2852 | SH |  | SOLE |  | 2852 | 0 | 0 |
| Sony Group Corporation Sponsor | COM | 835699307 |  | 32685 | 1579 | SH |  | SOLE |  | 1579 | 0 | 0 |
| Sony Group Corporation Sponsor | COM | 835699307 |  | 253202 | 12232 | SH |  | OTR |  | 0 | 0 | 12232 |
| Southern Co | COM | 842587107 |  | 1629374 | 16881 | SH |  | SOLE |  | 16881 | 0 | 0 |
| Starbucks Corporation | COM | 855244109 |  | 3374078 | 37661 | SH |  | SOLE |  | 37661 | 0 | 0 |
| State Street Corp | COM | 857477103 |  | 316400 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| Steris plc | COM | G8473T100 |  | 23391798 | 105783 | SH |  | SOLE |  | 104592 | 0 | 1191 |
| Stryker Corp | COM | 863667101 |  | 24279186 | 73889 | SH |  | SOLE |  | 72780 | 0 | 1109 |
| T-Mobile US Inc. | COM | 872590104 |  | 22819332 | 108648 | SH |  | SOLE |  | 106833 | 0 | 1815 |
| TC Energy Corp | COM | 87807B107 |  | 305801 | 4885 | SH |  | SOLE |  | 4885 | 0 | 0 |
| Taiwan Semiconductor Mfg Co AD | COM | 874039100 |  | 461640 | 1366 | SH |  | SOLE |  | 1366 | 0 | 0 |
| Taiwan Semiconductor Mfg Co AD | COM | 874039100 |  | 390332 | 1155 | SH |  | OTR |  | 0 | 0 | 1155 |
| Target Corporation | COM | 87612E106 |  | 329226 | 2716 | SH |  | SOLE |  | 2716 | 0 | 0 |
| Tesla Motors Inc | COM | 88160R101 |  | 781790 | 2103 | SH |  | SOLE |  | 2103 | 0 | 0 |
| Tesla Motors Inc | COM | 88160R101 |  | 169146 | 455 | SH |  | OTR |  | 0 | 0 | 455 |
| Texas Instruments Incorporated | COM | 882508104 |  | 29020980 | 149485 | SH |  | SOLE |  | 146250 | 0 | 3235 |
| The Marzetti Company | COM | 513847103 |  | 748560 | 5411 | SH |  | SOLE |  | 3543 | 0 | 1868 |
| Thomson Reuters | COM | 884903709 |  | 20349734 | 226158 | SH |  | SOLE |  | 216993 | 0 | 9165 |
| Tractor Supply Company | COM | 892356106 |  | 23170915 | 511499 | SH |  | SOLE |  | 503149 | 0 | 8350 |
| Travelers Cos Inc | COM | 89417E109 |  | 368476 | 1263 | SH |  | SOLE |  | 1263 | 0 | 0 |
| U. S. Bancorp | COM | 902973304 |  | 1049601 | 20181 | SH |  | SOLE |  | 12500 | 0 | 7681 |
| U. S. Bancorp | COM | 902973304 |  | 15603 | 300 | SH |  | OTR |  | 300 | 0 | 0 |
| Uber Technologies Inc | COM | 90353T100 |  | 843667 | 11729 | SH |  | SOLE |  | 11729 | 0 | 0 |
| Unilever PLC | COM | 904767803 |  | 403689 | 7086 | SH |  | SOLE |  | 7086 | 0 | 0 |
| Union Pacific Corp | COM | 907818108 |  | 9000232 | 37096 | SH |  | SOLE |  | 37096 | 0 | 0 |
| Verisk Analytics Inc | COM | 92345Y106 |  | 21833828 | 115066 | SH |  | SOLE |  | 112253 | 0 | 2813 |
| Verizon Communications | COM | 92343V104 |  | 33609781 | 669518 | SH |  | SOLE |  | 649566 | 0 | 19951 |
| Visa Inc Cl A | COM | 92826C839 |  | 4047785 | 13393 | SH |  | SOLE |  | 13393 | 0 | 0 |
| W.W. Grainger Inc. | COM | 384802104 |  | 247614 | 227 | SH |  | SOLE |  | 227 | 0 | 0 |
| WEC Energy Group Inc | COM | 92939U106 |  | 36402495 | 314438 | SH |  | SOLE |  | 305821 | 0 | 8617 |
| Wal-Mart Stores | COM | 931142103 |  | 32099121 | 258281 | SH |  | SOLE |  | 251897 | 0 | 6384 |
| Walt Disney Co | COM | 254687106 |  | 239601 | 2486 | SH |  | SOLE |  | 2486 | 0 | 0 |
| Watsco Inc. | COM | 942622200 |  | 32592033 | 89590 | SH |  | SOLE |  | 87060 | 0 | 2530 |
| Western Digital Corp Com | COM | 958102105 |  | 867732 | 3208 | SH |  | SOLE |  | 3208 | 0 | 0 |
| Williams Cos Inc | COM | 969457100 |  | 1172740 | 16113 | SH |  | SOLE |  | 10157 | 0 | 5957 |
| Xcel Energy Inc | COM | 98389B100 |  | 871060 | 10965 | SH |  | SOLE |  | 10965 | 0 | 0 |
| Zoetis Inc Class A | COM | 98978V103 |  | 12639055 | 106920 | SH |  | SOLE |  | 104212 | 0 | 2709 |
| Alerian MLP ETF | ETF | 00162Q452 |  | 1085595 | 20623 | SH |  | SOLE |  | 20623 | 0 | 0 |
| Bitwise Bitcoin ETF | ETF | 09174C104 |  | 176357 | 4791 | SH |  | SOLE |  | 4791 | 0 | 0 |
| Bitwise Bitcoin ETF | ETF | 09174C104 |  | 136050 | 3696 | SH |  | OTR |  | 0 | 0 | 3696 |
| Communication Services Select | ETF | 81369Y852 |  | 1545278 | 13939 | SH |  | SOLE |  | 13939 | 0 | 0 |
| Consumer Discretionary Sel Sec | ETF | 81369Y407 |  | 304926 | 2798 | SH |  | SOLE |  | 2798 | 0 | 0 |
| Consumer Staples Select Sector | ETF | 81369Y308 |  | 232741 | 2839 | SH |  | SOLE |  | 2839 | 0 | 0 |
| FlexShares Global Upstream Nat | ETF | 33939L407 |  | 535052 | 9700 | SH |  | SOLE |  | 9700 | 0 | 0 |
| Health Care Select Sector SPDR | ETF | 81369Y209 |  | 715897 | 4883 | SH |  | SOLE |  | 4883 | 0 | 0 |
| IShares Core MSCI EAFE ETF | ETF | 46432F842 |  | 541641 | 5983 | SH |  | SOLE |  | 5983 | 0 | 0 |
| IShares Core MSCI Emerging Mar | ETF | 46434G103 |  | 998402 | 14314 | SH |  | SOLE |  | 14314 | 0 | 0 |
| IShares Core S Mid-Cap ETF | ETF | 464287507 |  | 1640464 | 24292 | SH |  | SOLE |  | 24292 | 0 | 0 |
| IShares DJ Intl Select Div | ETF | 464288448 |  | 820642 | 19282 | SH |  | SOLE |  | 19282 | 0 | 0 |
| IShares DJ Select Dividend Fd | ETF | 464287168 |  | 828516 | 5472 | SH |  | SOLE |  | 5472 | 0 | 0 |
| IShares MSCI Australia Index F | ETF | 464286103 |  | 205341 | 7397 | SH |  | SOLE |  | 7397 | 0 | 0 |
| IShares MSCI Canada Index Fund | ETF | 464286509 |  | 482152 | 8800 | SH |  | SOLE |  | 8800 | 0 | 0 |
| IShares NASDAQ Biotech Index F | ETF | 464287556 |  | 905292 | 5362 | SH |  | SOLE |  | 5362 | 0 | 0 |
| IShares Russell 2000 Indx Fd | ETF | 464287655 |  | 763592 | 3079 | SH |  | SOLE |  | 3079 | 0 | 0 |
| IShares S 500 Index Fund | ETF | 464287952 |  | 676726 | 1036 | SH |  | SOLE |  | 1036 | 0 | 0 |
| IShares S Mid Cap 400/Barra | ETF | 464287606 |  | 956393 | 9505 | SH |  | SOLE |  | 9505 | 0 | 0 |
| IShares Tr MSCI Emerging Mkts | ETF | 464287234 |  | 353972 | 6233 | SH |  | SOLE |  | 6233 | 0 | 0 |
| IShares Tr S Smallcap 600 In | ETF | 464287887 |  | 409726 | 3296 | SH |  | SOLE |  | 3296 | 0 | 0 |
| Industrial Select Sect SPDR In | ETF | 81369Y704 |  | 458505 | 2835 | SH |  | SOLE |  | 2835 | 0 | 0 |
| Invesco Global Water Portfolio | ETF | 46138E651 |  | 223981 | 3350 | SH |  | SOLE |  | 3350 | 0 | 0 |
| Invesco QQQ Trust Series 1 | ETF | 46090E103 |  | 1854220 | 3213 | SH |  | SOLE |  | 3213 | 0 | 0 |
| Invesco S 500 Equal Weight E | ETF | 46137V357 |  | 378082 | 1970 | SH |  | SOLE |  | 1970 | 0 | 0 |
| JPM Exchange TR Intrnl Res Eqt | ETF | 46641Q134 |  | 1054301 | 13920 | SH |  | SOLE |  | 13920 | 0 | 0 |
| Proshares Tr II Vix Sht Term F | ETF | 74347Y730 |  | 319455 | 9300 | SH |  | SOLE |  | 9300 | 0 | 0 |
| Real Estate Select Sector SPDR | ETF | 81369Y860 |  | 447007 | 10948 | SH |  | SOLE |  | 10948 | 0 | 0 |
| S  P Depository Receipts SPDR | ETF | 78462f103 |  | 1552850 | 2388 | SH |  | SOLE |  | 2388 | 0 | 0 |
| SPDR Gold Trust | ETF | 78463V107 |  | 1481058 | 3442 | SH |  | SOLE |  | 3442 | 0 | 0 |
| SPINNAKER ETF SERIES SELECT ST | ETF | 84858T772 |  | 291291 | 7150 | SH |  | SOLE |  | 7150 | 0 | 0 |
| Schwab Strategic Tr Us Dividen | ETF | 808524797 |  | 218073 | 7108 | SH |  | SOLE |  | 7108 | 0 | 0 |
| Schwab U.S. Large-Cap Growth E | ETF | 808524300 |  | 420929 | 14450 | SH |  | SOLE |  | 14450 | 0 | 0 |
| Schwab U.S. Small-Cap ETF | ETF | 808524607 |  | 1187918 | 40850 | SH |  | SOLE |  | 40850 | 0 | 0 |
| State Street SPDR Portfolio S | ETF | 78464A854 |  | 5837093 | 76262 | SH |  | SOLE |  | 76262 | 0 | 0 |
| Technology Select Sector SPDR | ETF | 81369Y803 |  | 608283 | 4577 | SH |  | SOLE |  | 4577 | 0 | 0 |
| Utilities Select Sector SPDR I | ETF | 81369Y886 |  | 706706 | 15400 | SH |  | SOLE |  | 15400 | 0 | 0 |
| VanEck Vectors Semiconductor E | ETF | 92189F676 |  | 1930036 | 5034 | SH |  | SOLE |  | 5034 | 0 | 0 |
| Vanguard Emerging Markets ETF | ETF | 922042858 |  | 731351 | 13531 | SH |  | SOLE |  | 13531 | 0 | 0 |
| Vanguard FTSE Developed Mkts E | ETF | 921943858 |  | 3053217 | 47647 | SH |  | SOLE |  | 47647 | 0 | 0 |
| Vanguard Growth ETF | ETF | 922908736 |  | 483963 | 1108 | SH |  | SOLE |  | 1108 | 0 | 0 |
| Vanguard High Dividend Yield E | ETF | 921946406 |  | 473920 | 3200 | SH |  | SOLE |  | 3200 | 0 | 0 |
| Vanguard Materials ETF | ETF | 92204A801 |  | 221059 | 981 | SH |  | SOLE |  | 981 | 0 | 0 |
| Vanguard Mid-Cap ETF | ETF | 922908629 |  | 310442 | 1081 | SH |  | SOLE |  | 1081 | 0 | 0 |
| Vanguard Mid-Cap Growth Index | ETF | 922908538 |  | 433892 | 1686 | SH |  | SOLE |  | 1686 | 0 | 0 |
| Vanguard S 500 ETF | ETF | 922908363 |  | 1239872 | 2075 | SH |  | SOLE |  | 2075 | 0 | 0 |
| Vanguard Small Cap ETF | ETF | 922908751 |  | 200631 | 766 | SH |  | SOLE |  | 766 | 0 | 0 |
| Vanguard Small-Cap Value ETF | ETF | 922908611 |  | 482512 | 2221 | SH |  | SOLE |  | 2221 | 0 | 0 |
| Vanguard Total International S | ETF | 921909768 |  | 335429 | 4350 | SH |  | SOLE |  | 4350 | 0 | 0 |
| Vanguard Ttl Stk Mkt ETF | ETF | 922908769 |  | 291616 | 909 | SH |  | SOLE |  | 909 | 0 | 0 |
| Vanguard Value ETF | ETF | 922908744 |  | 903859 | 4607 | SH |  | SOLE |  | 4607 | 0 | 0 |
| Global X Variable Rate Preferr | ETF | 37954Y376 |  | 480790 | 22026 | SH |  | SOLE |  | 10690 | 0 | 11336 |
| IShares Barclays 20plus Year Tres | ETF | 464287432 |  | 216725 | 2500 | SH |  | SOLE |  | 2500 | 0 | 0 |
| IShares Barclays Aggregate Bon | ETF | 464287226 |  | 2885819 | 29070 | SH |  | SOLE |  | 16741 | 0 | 12329 |
| IShares Barclays MBS Bond Fd E | ETF | 464288588 |  | 497158 | 5236 | SH |  | SOLE |  | 2542 | 0 | 2694 |
| IShares High Yield Corp Bond E | ETF | 464288513 |  | 587094 | 13876 | SH |  | SOLE |  | 13876 | 0 | 0 |
| IShares S Natl Muni Bond Fun | ETF | 464288414 |  | 273867 | 2580 | SH |  | SOLE |  | 2580 | 0 | 0 |
| Invesco Financial Pfd Portfoli | ETF | 46137V621 |  | 232159 | 16872 | SH |  | SOLE |  | 16872 | 0 | 0 |
| Invesco Variable Rate Pref Por | ETF | 46138G870 |  | 1655107 | 69020 | SH |  | SOLE |  | 38458 | 0 | 30562 |
| Princpal Spectrum Preferred Se | ETF | 74255Y888 |  | 1594333 | 84715 | SH |  | SOLE |  | 46234 | 0 | 38481 |
| VanEck Preferred Securities ex | ETF | 92189F951 |  | 280640 | 16000 | SH |  | SOLE |  | 16000 | 0 | 0 |
| Vanguard Interm. Term Corp. Bo | ETF | 92206c870 |  | 1211434 | 14640 | SH |  | SOLE |  | 7663 | 0 | 6977 |
| Vanguard Intermediate Term Bon | ETF | 921937819 |  | 429738 | 5568 | SH |  | SOLE |  | 5568 | 0 | 0 |
| Vanguard Long-Term Corp Bond E | ETF | 92206C813 |  | 1932597 | 25865 | SH |  | SOLE |  | 14604 | 0 | 11260 |
| Vanguard Short-Term Bond ETF | ETF | 921937827 |  | 265653 | 3388 | SH |  | SOLE |  | 3388 | 0 | 0 |
| Vanguard Total Bond Market ETF | ETF | 921937603 |  | 1648534 | 22386 | SH |  | SOLE |  | 11604 | 0 | 10783 |
| iShares iBonds Dec 2026 Term C | ETF | 46435GAA0 |  | 681574 | 28118 | SH |  | SOLE |  | 19857 | 0 | 8261 |
| iShares iBonds Dec 2027 Term C | ETF | 46435UAA9 |  | 625944 | 25823 | SH |  | SOLE |  | 17510 | 0 | 8313 |
| iShares iBonds Dec 2028 Term C | ETF | 46435U515 |  | 622579 | 24579 | SH |  | SOLE |  | 16739 | 0 | 7840 |
| iShares iBonds Dec 2029 Term C | ETF | 46436E205 |  | 610594 | 26251 | SH |  | SOLE |  | 17789 | 0 | 8462 |
| iShares iBonds Dec 2030 Term C | ETF | 46436E726 |  | 623777 | 28496 | SH |  | SOLE |  | 19403 | 0 | 9093 |
| iShares iBonds Dec 2031 Term C | ETF | 46436E486 |  | 228807 | 10932 | SH |  | SOLE |  | 10932 | 0 | 0 |
| iShares iBonds Dec 2032 Term C | ETF | 46436E312 |  | 237209 | 9387 | SH |  | SOLE |  | 9387 | 0 | 0 |
| iShares iBonds Dec 2033 Term C | ETF | 46436E130 |  | 238079 | 9210 | SH |  | SOLE |  | 9210 | 0 | 0 |
| iShares iBonds Dec 2034 Term C | ETF | 46438G646 |  | 237745 | 9123 | SH |  | SOLE |  | 9123 | 0 | 0 |
| iShares iBonds Dec 2035 Term C | ETF | 46438G372 |  | 231093 | 9013 | SH |  | SOLE |  | 9013 | 0 | 0 |
| iShares iBonds Dec 2035 Term T | ETF | 46438G372 |  | 295850 | 11692 | SH |  | SOLE |  | 5674 | 0 | 6018 |

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