# EDGAR Filing Document

**Accession Number:** 0001424322
**File Stem:** 0001424322-23-000002
**Filing Date:** 2023-1
**Character Count:** 22318
**Document Hash:** 2951807dac0e51291212860c4d3f2b4c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001424322-23-000002.hdr.sgml**: 20230130

**ACCESSION NUMBER**: 0001424322-23-000002

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230130

**DATE AS OF CHANGE**: 20230130

**EFFECTIVENESS DATE**: 20230130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cubic Asset Management, LLC
- **CENTRAL INDEX KEY:** 0001424322
- **IRS NUMBER:** 651312579
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12643
- **FILM NUMBER:** 23565879

**BUSINESS ADDRESS:**
- **STREET 1:** 800 BOYLSTON STREET, SUITE 2830
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199
- **BUSINESS PHONE:** 617-456-1382

**MAIL ADDRESS:**
- **STREET 1:** 800 BOYLSTON STREET, SUITE 2830
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02199

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**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:** Cubic Asset Management LLC<br>**Address:** 800 BOYLSTON STREET SUITE 2830<br>BOSTON, MA 02199

**Form 13F File Number:** 028-12643

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:** Stuart Schwartz<br>**Title:** Director of Operations<br>**Phone:** 617-456-1382

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

Stuart Schwartz  Boston, MA  01-30-2023<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:** 196

**Form 13F Information Table Value Total:** $349773960

      (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 |
| 3M COMPANY | COM | 88579Y101 |  | 2905542 | 24229 | SH |  | SOLE |  | 0 | 0 | 24229 |
| A F L A C INC | COM | 001055102 |  | 7818727 | 108684 | SH |  | SOLE |  | 0 | 0 | 108684 |
| A T  T INC NEW | COM | 00206R102 |  | 2374577 | 128983 | SH |  | SOLE |  | 0 | 0 | 128983 |
| ABBOTT LABORATORIES | COM | 002824100 |  | 2870350 | 26144 | SH |  | SOLE |  | 0 | 0 | 26144 |
| ABBVIE INC | COM | 00287Y109 |  | 7693282 | 47604 | SH |  | SOLE |  | 0 | 0 | 47604 |
| ACME UNITED CORP | COM | 004816104 |  | 273203 | 12475 | SH |  | SOLE |  | 0 | 0 | 12475 |
| ADVANSIX INC | COM | 00773T101 |  | 672194 | 17680 | SH |  | SOLE |  | 0 | 0 | 17680 |
| AFFILIATED MANAGERS GROUP | COM | 008252108 |  | 376113 | 2374 | SH |  | SOLE |  | 0 | 0 | 2374 |
| AKAMAI TECHNOLOGIES | COM | 00971T101 |  | 394103 | 4675 | SH |  | SOLE |  | 0 | 0 | 4675 |
| ALGONQUIN POWER  UTILITIES | COM | 015857105 |  | 461909 | 70845 | SH |  | SOLE |  | 0 | 0 | 70845 |
| ALLSTATE CORP | COM | 020002101 |  | 8956109 | 66048 | SH |  | SOLE |  | 0 | 0 | 66048 |
| ALPHABET INC-CL A | COM | 38259P508 |  | 412916 | 4680 | SH |  | SOLE |  | 0 | 0 | 4680 |
| ALPHABET INC-CL C | COM | 02079K107 |  | 9142917 | 103042 | SH |  | SOLE |  | 0 | 0 | 103042 |
| AMAZON.COM INC | COM | 023135106 |  | 1462440 | 17410 | SH |  | SOLE |  | 0 | 0 | 17410 |
| AMCOR PLC | COM | G0250X107 |  | 2236758 | 187805 | SH |  | SOLE |  | 0 | 0 | 187805 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 6340396 | 42913 | SH |  | SOLE |  | 0 | 0 | 42913 |
| AMERICAS CAR-MART INC | COM | 03062T105 |  | 552428 | 7645 | SH |  | SOLE |  | 0 | 0 | 7645 |
| AMGEN INCORPORATED | COM | 031162100 |  | 260014 | 990 | SH |  | SOLE |  | 0 | 0 | 990 |
| ANALOG DEVICES INC | COM | 032654105 |  | 4385014 | 26733 | SH |  | SOLE |  | 0 | 0 | 26733 |
| AON PLC | COM | G0408V102 |  | 1151637 | 3837 | SH |  | SOLE |  | 0 | 0 | 3837 |
| APA CORP | COM | 03743Q108 |  | 229199 | 4910 | SH |  | SOLE |  | 0 | 0 | 4910 |
| APOGEE ENTERPRISES | COM | 037598109 |  | 262981 | 5915 | SH |  | SOLE |  | 0 | 0 | 5915 |
| APPLE INC | COM | 037833100 |  | 1706111 | 13131 | SH |  | SOLE |  | 0 | 0 | 13131 |
| APPLIED MATERIALS INC | COM | 038222105 |  | 3042346 | 31242 | SH |  | SOLE |  | 0 | 0 | 31242 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 3156486 | 170898 | SH |  | SOLE |  | 0 | 0 | 170898 |
| ARGAN INC | COM | 04010E109 |  | 631386 | 17120 | SH |  | SOLE |  | 0 | 0 | 17120 |
| ASSOCIATED BANC-CORP | COM | 045487105 |  | 582099 | 25210 | SH |  | SOLE |  | 0 | 0 | 25210 |
| ASSURANT INC | COM | 04621X108 |  | 637806 | 5100 | SH |  | SOLE |  | 0 | 0 | 5100 |
| ASTRONICS CORP | COM | 046433108 |  | 132098 | 12825 | SH |  | SOLE |  | 0 | 0 | 12825 |
| AUTOMATIC DATA PROCESSING | COM | 053015103 |  | 336076 | 1407 | SH |  | SOLE |  | 0 | 0 | 1407 |
| AVNET INC | COM | 053807103 |  | 1595633 | 38375 | SH |  | SOLE |  | 0 | 0 | 38375 |
| BANK OF AMERICA CORP | COM | 060505104 |  | 1026356 | 30989 | SH |  | SOLE |  | 0 | 0 | 30989 |
| BANK OF NY MELLON CP NEW | COM | 064058100 |  | 2290339 | 50315 | SH |  | SOLE |  | 0 | 0 | 50315 |
| BAXTER INTERNATIONAL | COM | 071813109 |  | 1673294 | 32829 | SH |  | SOLE |  | 0 | 0 | 32829 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 414509 | 1630 | SH |  | SOLE |  | 0 | 0 | 1630 |
| BERKSHIRE HATHAWAY B NEW CLASS | COM | 084670702 |  | 8820640 | 28555 | SH |  | SOLE |  | 0 | 0 | 28555 |
| BERKSHIRE HATHAWAY CL-A | COM | 084670108 |  | 468711 | 1 | SH |  | SOLE |  | 0 | 0 | 1 |
| BERKSHIRE HILLS BANCORP INC | COM | 084680107 |  | 418002 | 13980 | SH |  | SOLE |  | 0 | 0 | 13980 |
| BOEING CO | COM | 097023105 |  | 6054915 | 31786 | SH |  | SOLE |  | 0 | 0 | 31786 |
| BP PLC (ADR) | COM | 055622104 |  | 496949 | 14227 | SH |  | SOLE |  | 0 | 0 | 14227 |
| BREAD FINANCIAL HOLDINGS INC | COM | 018581108 |  | 506979 | 13462 | SH |  | SOLE |  | 0 | 0 | 13462 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 3601961 | 50062 | SH |  | SOLE |  | 0 | 0 | 50062 |
| BRUNSWICK CORP | COM | 117043109 |  | 293726 | 4075 | SH |  | SOLE |  | 0 | 0 | 4075 |
| CANADIAN PACIFIC RAILWAY LTD | COM | 13645T100 |  | 321259 | 4307 | SH |  | SOLE |  | 0 | 0 | 4307 |
| CARDINAL HEALTH | COM | 14149Y108 |  | 1075411 | 13990 | SH |  | SOLE |  | 0 | 0 | 13990 |
| CARTERS INC | COM | 146229109 |  | 234648 | 3145 | SH |  | SOLE |  | 0 | 0 | 3145 |
| CATERPILLAR INC | COM | 149123101 |  | 239560 | 1000 | SH |  | SOLE |  | 0 | 0 | 1000 |
| CHEVRON CORPORATION | COM | 166764100 |  | 609189 | 3394 | SH |  | SOLE |  | 0 | 0 | 3394 |
| CIGNA CORP | COM | 125523100 |  | 4519478 | 13640 | SH |  | SOLE |  | 0 | 0 | 13640 |
| CISCO SYSTEMS INC | COM | 17275R102 |  | 3977178 | 83484 | SH |  | SOLE |  | 0 | 0 | 83484 |
| CITIGROUP INC | COM | 172967424 |  | 5488434 | 121345 | SH |  | SOLE |  | 0 | 0 | 121345 |
| CLEVELAND-CLIFFS INC | COM | 185899101 |  | 286758 | 17800 | SH |  | SOLE |  | 0 | 0 | 17800 |
| CLOROX COMPANY | COM | 189054109 |  | 319952 | 2280 | SH |  | SOLE |  | 0 | 0 | 2280 |
| COCA COLA COMPANY | COM | 191216100 |  | 646850 | 10169 | SH |  | SOLE |  | 0 | 0 | 10169 |
| COHEN  STEERS QUAL INC RLTY | COM | 19247L106 |  | 121900 | 10600 | SH |  | SOLE |  | 0 | 0 | 10600 |
| COHERENT INC | COM | 19247G107 |  | 1150473 | 32777 | SH |  | SOLE |  | 0 | 0 | 32777 |
| COMCAST CORP CL A | COM | 20030N101 |  | 2764833 | 79063 | SH |  | SOLE |  | 0 | 0 | 79063 |
| COMMERCIAL METALS CO | COM | 201723103 |  | 2830477 | 58602 | SH |  | SOLE |  | 0 | 0 | 58602 |
| COMPASS MINERALS INTERNATIONAL | COM | 20451N101 |  | 345835 | 8435 | SH |  | SOLE |  | 0 | 0 | 8435 |
| CONAGRA FOODS INC | COM | 205887102 |  | 1174081 | 30338 | SH |  | SOLE |  | 0 | 0 | 30338 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 1771298 | 15011 | SH |  | SOLE |  | 0 | 0 | 15011 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 660022 | 6925 | SH |  | SOLE |  | 0 | 0 | 6925 |
| CRANE HOLDINGS CO | COM | 224441105 |  | 1143021 | 11379 | SH |  | SOLE |  | 0 | 0 | 11379 |
| CVS INC | COM | 126650100 |  | 7869057 | 84441 | SH |  | SOLE |  | 0 | 0 | 84441 |
| DELTA AIRLINES INC | COM | 247361702 |  | 4272589 | 130024 | SH |  | SOLE |  | 0 | 0 | 130024 |
| DELUXE CORPORATION | COM | 248019101 |  | 365410 | 21520 | SH |  | SOLE |  | 0 | 0 | 21520 |
| DEVON ENERGY CP NEW | COM | 25179M103 |  | 621559 | 10105 | SH |  | SOLE |  | 0 | 0 | 10105 |
| DOVER CORPORATION | COM | 260003108 |  | 236426 | 1746 | SH |  | SOLE |  | 0 | 0 | 1746 |
| DOW INC | COM | 260557103 |  | 2953862 | 58620 | SH |  | SOLE |  | 0 | 0 | 58620 |
| DR HORTON INC | COM | 23331A109 |  | 891400 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| DUKE ENERGY CORP NEW | COM | 26441C204 |  | 226578 | 2200 | SH |  | SOLE |  | 0 | 0 | 2200 |
| E O G RESOURCES INC | COM | 26875P101 |  | 828928 | 6400 | SH |  | SOLE |  | 0 | 0 | 6400 |
| ELI LILLY  CO | COM | 532457108 |  | 656683 | 1795 | SH |  | SOLE |  | 0 | 0 | 1795 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1867820 | 16934 | SH |  | SOLE |  | 0 | 0 | 16934 |
| FEDERATED HERMES INC | COM | 314211103 |  | 487171 | 13417 | SH |  | SOLE |  | 0 | 0 | 13417 |
| FEDEX CORPORATION | COM | 31428X106 |  | 5179026 | 29902 | SH |  | SOLE |  | 0 | 0 | 29902 |
| FIDELITY NATIONAL FINL-A | COM | 31620R303 |  | 422849 | 11240 | SH |  | SOLE |  | 0 | 0 | 11240 |
| FIFTH THIRD BANCORP | COM | 316773100 |  | 495759 | 15110 | SH |  | SOLE |  | 0 | 0 | 15110 |
| FREQUENCY THERAPEUTICS INC | COM | 35803L108 |  | 42350 | 11000 | SH |  | SOLE |  | 0 | 0 | 11000 |
| GENERAC HOLDINGS INC | COM | 368736104 |  | 337211 | 3350 | SH |  | SOLE |  | 0 | 0 | 3350 |
| GENERAL MILLS INC | COM | 370334104 |  | 1186478 | 14150 | SH |  | SOLE |  | 0 | 0 | 14150 |
| GENERAL MOTORS CO. | COM | 37045V100 |  | 567339 | 16865 | SH |  | SOLE |  | 0 | 0 | 16865 |
| GENTEX CORP | COM | 371901109 |  | 774195 | 28390 | SH |  | SOLE |  | 0 | 0 | 28390 |
| GENUINE PARTS CO | COM | 372460105 |  | 7336523 | 42283 | SH |  | SOLE |  | 0 | 0 | 42283 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 1826201 | 21272 | SH |  | SOLE |  | 0 | 0 | 21272 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 7223685 | 21037 | SH |  | SOLE |  | 0 | 0 | 21037 |
| GROUP 1 AUTOMOTIVE | COM | 398905109 |  | 3523708 | 19536 | SH |  | SOLE |  | 0 | 0 | 19536 |
| HELEN OF TROY LTD | COM | G4388N106 |  | 293357 | 2645 | SH |  | SOLE |  | 0 | 0 | 2645 |
| HILLENBRAND INC | COM | 431571108 |  | 280769 | 6580 | SH |  | SOLE |  | 0 | 0 | 6580 |
| HONEYWELL INTERNATIONAL | COM | 438516106 |  | 388740 | 1814 | SH |  | SOLE |  | 0 | 0 | 1814 |
| HUNTSMAN CORPORATION | COM | 447011107 |  | 345424 | 12570 | SH |  | SOLE |  | 0 | 0 | 12570 |
| ICONIC BRANDS INC | COM | 45107V306 |  | 1350 | 18000 | SH |  | SOLE |  | 0 | 0 | 18000 |
| INTEL CORP | COM | 458140100 |  | 3549945 | 134315 | SH |  | SOLE |  | 0 | 0 | 134315 |
| INTERNATIONAL PAPER | COM | 460146103 |  | 2712776 | 78336 | SH |  | SOLE |  | 0 | 0 | 78336 |
| INTL BUSINESS MACHINES | COM | 459200101 |  | 3591568 | 25492 | SH |  | SOLE |  | 0 | 0 | 25492 |
| INVESCO S EQUAL WEIGHT | COM | 46137V357 |  | 404258 | 2862 | SH |  | SOLE |  | 0 | 0 | 2862 |
| IRON MOUNTAIN INC | COM | 46284V101 |  | 1381094 | 27705 | SH |  | SOLE |  | 0 | 0 | 27705 |
| ISHARES MSCI EAFE ETF | COM | 464287465 |  | 1647433 | 25098 | SH |  | SOLE |  | 0 | 0 | 25098 |
| ISHARES RUSSELL 2000 VALUE | COM | 464287630 |  | 715537 | 5160 | SH |  | SOLE |  | 0 | 0 | 5160 |
| ISHARES RUSSELL 3000 INDEX | COM | 464287689 |  | 252679 | 1145 | SH |  | SOLE |  | 0 | 0 | 1145 |
| ISHARES TR BARCLAYS TIPS BOND | COM | 464287176 |  | 584249 | 5489 | SH |  | SOLE |  | 0 | 0 | 5489 |
| ITT INC | COM | 45073V108 |  | 1606186 | 19805 | SH |  | SOLE |  | 0 | 0 | 19805 |
| JEFFERIES FINANCIAL GROUP INC | COM | 47233W109 |  | 539224 | 15730 | SH |  | SOLE |  | 0 | 0 | 15730 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 7251306 | 41049 | SH |  | SOLE |  | 0 | 0 | 41049 |
| JOHNSON CONTROLS INC | COM | G51502105 |  | 941056 | 14704 | SH |  | SOLE |  | 0 | 0 | 14704 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 973566 | 7260 | SH |  | SOLE |  | 0 | 0 | 7260 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 4414319 | 32518 | SH |  | SOLE |  | 0 | 0 | 32518 |
| KINDER MORGAN INC | COM | 49456B101 |  | 203852 | 11275 | SH |  | SOLE |  | 0 | 0 | 11275 |
| KNOWLES CORP | COM | 49926D109 |  | 398103 | 24245 | SH |  | SOLE |  | 0 | 0 | 24245 |
| LABORATORY CRP OF AMER HLDGS | COM | 50540R409 |  | 725278 | 3080 | SH |  | SOLE |  | 0 | 0 | 3080 |
| LANDSTAR SYSTEM INC | COM | 515098101 |  | 1185912 | 7280 | SH |  | SOLE |  | 0 | 0 | 7280 |
| LCI INDUSTRIES | COM | 50189K103 |  | 1183730 | 12804 | SH |  | SOLE |  | 0 | 0 | 12804 |
| LEGGETT  PLATT INC | COM | 524660107 |  | 1529056 | 47442 | SH |  | SOLE |  | 0 | 0 | 47442 |
| LENNAR CORP-A | COM | 526057104 |  | 552050 | 6100 | SH |  | SOLE |  | 0 | 0 | 6100 |
| LIGHTNING EMOTORS INC | COM | 53228T101 |  | 85506 | 233303 | SH |  | SOLE |  | 0 | 0 | 233303 |
| LKQ CORP | COM | 501889208 |  | 7888924 | 147705 | SH |  | SOLE |  | 0 | 0 | 147705 |
| LOWE'S COS INC | COM | 548661107 |  | 6414930 | 32197 | SH |  | SOLE |  | 0 | 0 | 32197 |
| M/I HOMES INC | COM | 55305B101 |  | 1019193 | 22070 | SH |  | SOLE |  | 0 | 0 | 22070 |
| MANPOWERGROUP INC | COM | 56418H100 |  | 923215 | 11095 | SH |  | SOLE |  | 0 | 0 | 11095 |
| MEDICAL PROPERTIES TRUST INC | COM | 58463J304 |  | 1837966 | 164988 | SH |  | SOLE |  | 0 | 0 | 164988 |
| MEDTRONIC PLC | COM | G5960L103 |  | 2267326 | 29173 | SH |  | SOLE |  | 0 | 0 | 29173 |
| MERCK  CO INC NEW | COM | 58933Y105 |  | 3054343 | 27529 | SH |  | SOLE |  | 0 | 0 | 27529 |
| META PLATFORMS INC-A | COM | 30303M102 |  | 3390459 | 28174 | SH |  | SOLE |  | 0 | 0 | 28174 |
| METLIFE INC | COM | 59156R108 |  | 1670951 | 23089 | SH |  | SOLE |  | 0 | 0 | 23089 |
| MICROSOFT CORP | COM | 594918104 |  | 12685998 | 52898 | SH |  | SOLE |  | 0 | 0 | 52898 |
| MIDCAP FINANCIAL INVESTMENT CO | COM | 03761U502 |  | 728050 | 63864 | SH |  | SOLE |  | 0 | 0 | 63864 |
| MILLER INDS INC TENN COM NEW | COM | 600551204 |  | 483213 | 18125 | SH |  | SOLE |  | 0 | 0 | 18125 |
| MKS INSTRUMENTS INC | COM | 55306N104 |  | 430852 | 5085 | SH |  | SOLE |  | 0 | 0 | 5085 |
| MODINE MANUFACTURING CO | COM | 607828100 |  | 289460 | 14575 | SH |  | SOLE |  | 0 | 0 | 14575 |
| MOHAWK INDUSTRIES INC | COM | 608190104 |  | 270883 | 2650 | SH |  | SOLE |  | 0 | 0 | 2650 |
| MOTOROLA SOLUTIONS INC | COM | 620076307 |  | 1070270 | 4153 | SH |  | SOLE |  | 0 | 0 | 4153 |
| NASDAQ INC | COM | 631103108 |  | 216259 | 3525 | SH |  | SOLE |  | 0 | 0 | 3525 |
| NCR CORP NEW | COM | 62886E108 |  | 476394 | 20350 | SH |  | SOLE |  | 0 | 0 | 20350 |
| NEW YORK COMMUNITY BANCORP | COM | 649445103 |  | 727861 | 84635 | SH |  | SOLE |  | 0 | 0 | 84635 |
| NOMAD FOODS LTD | COM | G6564A105 |  | 490650 | 28460 | SH |  | SOLE |  | 0 | 0 | 28460 |
| NOVARTIS A G SPON ADR | COM | 66987V109 |  | 2867478 | 31608 | SH |  | SOLE |  | 0 | 0 | 31608 |
| NUTRIEN LTD | COM | 67077M108 |  | 303586 | 4157 | SH |  | SOLE |  | 0 | 0 | 4157 |
| NVIDIA CORP | COM | 67066G104 |  | 612327 | 4190 | SH |  | SOLE |  | 0 | 0 | 4190 |
| NYMOX PHARMACEUTICAL CORP | COM | P73398102 |  | 4526 | 14000 | SH |  | SOLE |  | 0 | 0 | 14000 |
| OMNICOM GROUP INC | COM | 681919106 |  | 6627073 | 81244 | SH |  | SOLE |  | 0 | 0 | 81244 |
| ONEMAIN HOLDINGS INC | COM | 68268W103 |  | 383565 | 11515 | SH |  | SOLE |  | 0 | 0 | 11515 |
| ORACLE CORPORATION | COM | 68389X105 |  | 896279 | 10965 | SH |  | SOLE |  | 0 | 0 | 10965 |
| OTTER TAIL POWER | COM | 689648100 |  | 246582 | 4200 | SH |  | SOLE |  | 0 | 0 | 4200 |
| PACKAGING CORP OF AMERICA | COM | 695156109 |  | 217447 | 1700 | SH |  | SOLE |  | 0 | 0 | 1700 |
| PARAMOUNT GLOBAL | COM | 92556H206 |  | 583795 | 34585 | SH |  | SOLE |  | 0 | 0 | 34585 |
| PARK HOTELS  RESORTS INC | COM | 700517105 |  | 270852 | 22973 | SH |  | SOLE |  | 0 | 0 | 22973 |
| PATTERSON COS INC | COM | 703395103 |  | 228445 | 8150 | SH |  | SOLE |  | 0 | 0 | 8150 |
| PAYCHEX INC | COM | 704326107 |  | 231120 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| PENNANTPARK INVESTMENT CORP | COM | 708062104 |  | 111406 | 19375 | SH |  | SOLE |  | 0 | 0 | 19375 |
| PEPSICO INC | COM | 713448108 |  | 643330 | 3561 | SH |  | SOLE |  | 0 | 0 | 3561 |
| PFIZER INCORPORATED | COM | 717081103 |  | 7919343 | 154554 | SH |  | SOLE |  | 0 | 0 | 154554 |
| PIONEER NATURAL RES CO | COM | 723787107 |  | 997151 | 4366 | SH |  | SOLE |  | 0 | 0 | 4366 |
| PNC FINANCIAL SERVICES GROUP | COM | 693475105 |  | 9899047 | 62676 | SH |  | SOLE |  | 0 | 0 | 62676 |
| PROCTER  GAMBLE | COM | 742718109 |  | 1339639 | 8839 | SH |  | SOLE |  | 0 | 0 | 8839 |
| PROGRESSIVE CORP | COM | 743315103 |  | 1012905 | 7809 | SH |  | SOLE |  | 0 | 0 | 7809 |
| PURE TECH HEALTH PLC | COM | GB00BY2Z0 |  | 256458 | 80000 | SH |  | SOLE |  | 0 | 0 | 80000 |
| RAYTHEON TECHNOLOGIES | COM | 75513E101 |  | 3575898 | 35433 | SH |  | SOLE |  | 0 | 0 | 35433 |
| S P D R S 500 | COM | 78462F103 |  | 2657124 | 6948 | SH |  | SOLE |  | 0 | 0 | 6948 |
| SABRA HEALTH CARE REIT | COM | 78573L106 |  | 137041 | 11025 | SH |  | SOLE |  | 0 | 0 | 11025 |
| SAFETY INSURANCE GROUP INC | COM | 78648T100 |  | 257583 | 3057 | SH |  | SOLE |  | 0 | 0 | 3057 |
| SALESFORCE.COM | COM | 79466L302 |  | 238662 | 1800 | SH |  | SOLE |  | 0 | 0 | 1800 |
| SCH US TIPS ETF | COM | 808524870 |  | 366207 | 7071 | SH |  | SOLE |  | 0 | 0 | 7071 |
| SCHLUMBERGER LTD | COM | 806857108 |  | 1173500 | 21951 | SH |  | SOLE |  | 0 | 0 | 21951 |
| SCHWAB US BROAD MARKET ETF | COM | 808524102 |  | 257523 | 5747 | SH |  | SOLE |  | 0 | 0 | 5747 |
| SCHWAB US LARGE-CAP GROWTH | COM | 808524300 |  | 302802 | 5450 | SH |  | SOLE |  | 0 | 0 | 5450 |
| SENSIENT TECHNOLOGIES CORP | COM | 81725T100 |  | 834205 | 11440 | SH |  | SOLE |  | 0 | 0 | 11440 |
| SHELL PLC | COM | 780259305 |  | 398479 | 6997 | SH |  | SOLE |  | 0 | 0 | 6997 |
| SNAP ON INC | COM | 833034101 |  | 2283986 | 9996 | SH |  | SOLE |  | 0 | 0 | 9996 |
| SPECTRUM BRANDS HOLDINGS INC | COM | 84790A105 |  | 1444291 | 23708 | SH |  | SOLE |  | 0 | 0 | 23708 |
| STAG INDUSTRIAL INC | COM | 85254J102 |  | 289821 | 8970 | SH |  | SOLE |  | 0 | 0 | 8970 |
| STANDARD MOTOR PRODUCTS INC | COM | 853666105 |  | 734454 | 21105 | SH |  | SOLE |  | 0 | 0 | 21105 |
| STRYKER CORP | COM | 863667101 |  | 492892 | 2016 | SH |  | SOLE |  | 0 | 0 | 2016 |
| SUNCOR ENERGY INC NEW F | COM | 867224107 |  | 2571812 | 81053 | SH |  | SOLE |  | 0 | 0 | 81053 |
| TAYLOR MORRISON HOME CORP | COM | 87724P106 |  | 621993 | 20494 | SH |  | SOLE |  | 0 | 0 | 20494 |
| TE CONNECTIVITY LTD F | COM | H84989104 |  | 3172383 | 27634 | SH |  | SOLE |  | 0 | 0 | 27634 |
| TENET HEALTHCARE CORP | COM | 88033G407 |  | 238339 | 4885 | SH |  | SOLE |  | 0 | 0 | 4885 |
| TERRITORIAL BANCORP INC COM | COM | 88145X108 |  | 548629 | 22850 | SH |  | SOLE |  | 0 | 0 | 22850 |
| THE WALT DISNEY CO | COM | 254687106 |  | 3941572 | 45368 | SH |  | SOLE |  | 0 | 0 | 45368 |
| TJX COMPANIES | COM | 872540109 |  | 1194398 | 15005 | SH |  | SOLE |  | 0 | 0 | 15005 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 1199186 | 6396 | SH |  | SOLE |  | 0 | 0 | 6396 |
| U S BANCORP DEL NEW | COM | 902973304 |  | 2280149 | 52285 | SH |  | SOLE |  | 0 | 0 | 52285 |
| UFP INDUSTRIES INC | COM | 90278Q108 |  | 968039 | 12215 | SH |  | SOLE |  | 0 | 0 | 12215 |
| UFP TECHNOLOGIES INC | COM | 902673102 |  | 483938 | 4105 | SH |  | SOLE |  | 0 | 0 | 4105 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 7769258 | 14654 | SH |  | SOLE |  | 0 | 0 | 14654 |
| VANGUARD TOTAL INTERNATIONAL S | COM | 921909768 |  | 368815 | 7131 | SH |  | SOLE |  | 0 | 0 | 7131 |
| VERIZON COMMUNICATIONS | COM | 92343V104 |  | 2820804 | 71594 | SH |  | SOLE |  | 0 | 0 | 71594 |
| VERTEX PHARMACEUTICALS | COM | 92532F100 |  | 924096 | 3200 | SH |  | SOLE |  | 0 | 0 | 3200 |
| VISA INC-CLASS A | COM | 92826C839 |  | 2710021 | 13044 | SH |  | SOLE |  | 0 | 0 | 13044 |
| WARNER BROS DISCOVERY INC | COM | 934423104 |  | 256823 | 27091 | SH |  | SOLE |  | 0 | 0 | 27091 |
| WHIRLPOOL CORP | COM | 963320106 |  | 947075 | 6695 | SH |  | SOLE |  | 0 | 0 | 6695 |
| ZIMMER BIOMET HOLDINGS INC | COM | 98956P102 |  | 827475 | 6490 | SH |  | SOLE |  | 0 | 0 | 6490 |
| iSHARES BARCLAYS AGGREGATE BON | COM | 464287226 |  | 438104 | 4517 | SH |  | SOLE |  | 0 | 0 | 4517 |
| iSHARES MSCI EMERGING MARKET I | COM | 464287234 |  | 209360 | 5524 | SH |  | SOLE |  | 0 | 0 | 5524 |
| iSHARES RUSSELL MIDCAP VALUE | COM | 464287473 |  | 594750 | 5646 | SH |  | SOLE |  | 0 | 0 | 5646 |
| GOLDMAN SACHS GROUP INC PRFD | COM | 38143Y665 |  | 267154 | 14340 | SH |  | SOLE |  | 0 | 0 | 14340 |
| JP MORGAN CHASE PFRD | COM | 48128B523 |  | 254750 | 14340 | SH |  | SOLE |  | 0 | 0 | 14340 |

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