# EDGAR Filing Document

**Accession Number:** 0001463753
**File Stem:** 0001398344-23-001786
**Filing Date:** 2023-2
**Character Count:** 20897
**Document Hash:** 9c17ffd2759cb345421f222579f967f7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001398344-23-001786.hdr.sgml**: 20230201

**ACCESSION NUMBER**: 0001398344-23-001786

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230201

**DATE AS OF CHANGE**: 20230201

**EFFECTIVENESS DATE**: 20230201

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ipswich Investment Management Co., Inc.
- **CENTRAL INDEX KEY:** 0001463753
- **IRS NUMBER:** 042904257
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-13506
- **FILM NUMBER:** 23575772

**BUSINESS ADDRESS:**
- **STREET 1:** 53 SOUTH MAIN STREET
- **CITY:** IPSWICH
- **STATE:** MA
- **ZIP:** 01938
- **BUSINESS PHONE:** 978-356-6333

**MAIL ADDRESS:**
- **STREET 1:** 53 SOUTH MAIN STREET
- **CITY:** IPSWICH
- **STATE:** MA
- **ZIP:** 01938

### 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:** Ipswich Investment Management Co. Inc.<br>**Address:** 53 SOUTH MAIN STREET<br>IPSWICH, MA 01938

**Form 13F File Number:** 028-13506

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:** A. Cushing Titcomb<br>**Title:** Exec VP Chief Operating Officer Chief Compliance Officer<br>**Phone:** 978-356-6333

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

/s/ A. Cushing Titcomb  Ipswich, MA  01-26-2023<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:** 6

**Form 13F Information Table Entry Total:** 179

**Form 13F Information Table Value Total:** $349357200

      (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.]

| No.   | Name               | Form 13F File Number   |
|:---|:---|:---|
|  | Eric H. Jostrom    |  |
|  | Alexander M. Colby |  |
|  | Patricia A. Bowlin |  |
|  | James R. McCall    |  |
|  | Janell Phillips    |  |
|  | David MacDougall   |  |

### 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 CO | COM | 88579Y101 |  | 2343716 | 19544 | SH |  | SOLE |  | 19544 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 3662924 | 33363 | SH |  | SOLE |  | 33363 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 6148129 | 38043 | SH |  | SOLE |  | 38043 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 5606665 | 21011 | SH |  | SOLE |  | 21011 | 0 | 0 |
| ADOBE SYSTEMS INCORPORATED | COM | 00724F101 |  | 347972 | 1034 | SH |  | SOLE |  | 1034 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 1036385 | 16001 | SH |  | SOLE |  | 16001 | 0 | 0 |
| AFLAC INC | COM | 001055102 |  | 551060 | 7660 | SH |  | SOLE |  | 7660 | 0 | 0 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 1160765 | 3766 | SH |  | SOLE |  | 3765 | 0 | 0 |
| AKAMAI TECHNOLOGIES INC | COM | 00971T101 |  | 572397 | 6790 | SH |  | SOLE |  | 6790 | 0 | 0 |
| ALCON AG | ORD SHS | H01301128 |  | 660205 | 9631 | SH |  | SOLE |  | 9631 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 1520447 | 17136 | SH |  | SOLE |  | 17135 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 5397470 | 61175 | SH |  | SOLE |  | 61175 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 963795 | 21085 | SH |  | SOLE |  | 21085 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 4146828 | 49367 | SH |  | SOLE |  | 49367 | 0 | 0 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 208890 | 2200 | SH |  | SOLE |  | 2200 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 541583 | 3666 | SH |  | SOLE |  | 3665 | 0 | 0 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 |  | 3414178 | 22400 | SH |  | SOLE |  | 22399 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 4908203 | 18688 | SH |  | SOLE |  | 18687 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 14072957 | 108312 | SH |  | SOLE |  | 108311 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 810318 | 8321 | SH |  | SOLE |  | 8321 | 0 | 0 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 259965 | 14075 | SH |  | SOLE |  | 14075 | 0 | 0 |
| ARTESIAN RES CORP | CL A | 043113208 |  | 212060 | 3620 | SH |  | SOLE |  | 3620 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 2496005 | 4568 | SH |  | SOLE |  | 4568 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 774409 | 42065 | SH |  | SOLE |  | 42064 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 1487142 | 6226 | SH |  | SOLE |  | 6226 | 0 | 0 |
| AVERY DENNISON CORP | COM | 053611109 |  | 247065 | 1365 | SH |  | SOLE |  | 1365 | 0 | 0 |
| BANK MONTREAL QUE | COM | 063671101 |  | 752342 | 8304 | SH |  | SOLE |  | 8304 | 0 | 0 |
| BANK NOVA SCOTIA HALIFAX | COM | 064149107 |  | 1266183 | 25851 | SH |  | SOLE |  | 25851 | 0 | 0 |
| BAXTER INTL INC | COM | 071813109 |  | 1139893 | 22364 | SH |  | SOLE |  | 22364 | 0 | 0 |
| BCE INC | COM NEW | 05534B760 |  | 318785 | 7253 | SH |  | SOLE |  | 7253 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 301178 | 975 | SH |  | SOLE |  | 975 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 1682551 | 23385 | SH |  | SOLE |  | 23385 | 0 | 0 |
| BRITISH AMERN TOB PLC | SPONSORED ADR | 110448107 |  | 1125237 | 28145 | SH |  | SOLE |  | 28145 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 243781 | 436 | SH |  | SOLE |  | 436 | 0 | 0 |
| BROOKFIELD INFRASTRUCTURE CO | COM SB VTG SHS A | 11275Q107 |  | 2124562 | 54616 | SH |  | SOLE |  | 54616 | 0 | 0 |
| CAMDEN NATL CORP | COM | 133034108 |  | 3324058 | 79733 | SH |  | SOLE |  | 79732 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 4510627 | 18829 | SH |  | SOLE |  | 18828 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 8437897 | 47010 | SH |  | SOLE |  | 47010 | 0 | 0 |
| CHUBB LIMITED | COM | H1467J104 |  | 3569970 | 16183 | SH |  | SOLE |  | 16183 | 0 | 0 |
| CHURCH  DWIGHT CO INC | COM | 171340102 |  | 1079644 | 13393 | SH |  | SOLE |  | 13393 | 0 | 0 |
| CIGNA CORP NEW | COM | 125523100 |  | 1564919 | 4723 | SH |  | SOLE |  | 4723 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 355442 | 7461 | SH |  | SOLE |  | 7461 | 0 | 0 |
| CITIZENS FINL GROUP INC | COM | 174610105 |  | 208070 | 5285 | SH |  | SOLE |  | 5285 | 0 | 0 |
| CLEVELAND-CLIFFS INC NEW | COM | 185899101 |  | 201375 | 12500 | SH |  | SOLE |  | 12500 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 3456997 | 54347 | SH |  | SOLE |  | 54346 | 0 | 0 |
| COCA-COLA EUROPACIFIC PARTNE | SHS | G25839104 |  | 923844 | 16700 | SH |  | SOLE |  | 16700 | 0 | 0 |
| COGENT COMMUNICATIONS HLDGS | COM NEW | 19239V302 |  | 1829642 | 32054 | SH |  | SOLE |  | 32054 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 1664189 | 21122 | SH |  | SOLE |  | 21121 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 623158 | 5281 | SH |  | SOLE |  | 5281 | 0 | 0 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 431278 | 4525 | SH |  | SOLE |  | 4525 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 237634 | 7440 | SH |  | SOLE |  | 7440 | 0 | 0 |
| CORTEVA INC | COM | 22052L104 |  | 578924 | 9849 | SH |  | SOLE |  | 9849 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 7335359 | 16069 | SH |  | SOLE |  | 16068 | 0 | 0 |
| CRISPR THERAPEUTICS AG | NAMEN AKT | H17182108 |  | 994706 | 24470 | SH |  | SOLE |  | 24470 | 0 | 0 |
| CROWN CASTLE INC | COM | 22822V101 |  | 2085216 | 15373 | SH |  | SOLE |  | 15373 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 315952 | 3390 | SH |  | SOLE |  | 3390 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 1640826 | 6182 | SH |  | SOLE |  | 6182 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 474363 | 1106 | SH |  | SOLE |  | 1106 | 0 | 0 |
| DIAGEO PLC | SPON ADR NEW | 25243Q205 |  | 2102998 | 11802 | SH |  | SOLE |  | 11802 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 661684 | 7616 | SH |  | SOLE |  | 7616 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 254539 | 4151 | SH |  | SOLE |  | 4151 | 0 | 0 |
| DOW INC | COM | 260557103 |  | 542448 | 10765 | SH |  | SOLE |  | 10765 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 1762060 | 17109 | SH |  | SOLE |  | 17109 | 0 | 0 |
| DUPONT DE NEMOURS INC | COM | 26614N102 |  | 755067 | 11002 | SH |  | SOLE |  | 11002 | 0 | 0 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 1165334 | 15619 | SH |  | SOLE |  | 15619 | 0 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 2537233 | 26413 | SH |  | SOLE |  | 26413 | 0 | 0 |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 |  | 490777 | 20347 | SH |  | SOLE |  | 20347 | 0 | 0 |
| EQUINOR ASA | SPONSORED ADR | 29446M102 |  | 2902980 | 81066 | SH |  | SOLE |  | 81066 | 0 | 0 |
| EXPEDITORS INTL WASH INC | COM | 302130109 |  | 247330 | 2380 | SH |  | SOLE |  | 2380 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 11721912 | 106273 | SH |  | SOLE |  | 106273 | 0 | 0 |
| FAIR ISAAC CORP | COM | 303250104 |  | 793119 | 1325 | SH |  | SOLE |  | 1325 | 0 | 0 |
| FISERV INC | COM | 337738108 |  | 272384 | 2695 | SH |  | SOLE |  | 2695 | 0 | 0 |
| GENERAL ELECTRIC CO | COM NEW | 369604301 |  | 859266 | 10255 | SH |  | SOLE |  | 10255 | 0 | 0 |
| GENERAL MLS INC | COM | 370334104 |  | 600869 | 7166 | SH |  | SOLE |  | 7166 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 461015 | 5370 | SH |  | SOLE |  | 5370 | 0 | 0 |
| GSK PLC | SPONSORED ADR | 37733W204 |  | 323007 | 9192 | SH |  | SOLE |  | 9192 | 0 | 0 |
| GXO LOGISTICS INCORPORATED | COMMON STOCK | 36262G101 |  | 548140 | 12840 | SH |  | SOLE |  | 12840 | 0 | 0 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 499644 | 2846 | SH |  | SOLE |  | 2846 | 0 | 0 |
| HERSHEY CO | COM | 427866108 |  | 781549 | 3375 | SH |  | SOLE |  | 3375 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 1428805 | 4524 | SH |  | SOLE |  | 4523 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 4505585 | 21025 | SH |  | SOLE |  | 21024 | 0 | 0 |
| IDEXX LABS INC | COM | 45168D104 |  | 226418 | 555 | SH |  | SOLE |  | 555 | 0 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 3850352 | 17478 | SH |  | SOLE |  | 17477 | 0 | 0 |
| ILLUMINA INC | COM | 452327109 |  | 985321 | 4873 | SH |  | SOLE |  | 4873 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 1833370 | 69367 | SH |  | SOLE |  | 69366 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 257398 | 2509 | SH |  | SOLE |  | 2509 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 2166747 | 15379 | SH |  | SOLE |  | 15379 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 250756 | 945 | SH |  | SOLE |  | 945 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 991360 | 3723 | SH |  | SOLE |  | 3723 | 0 | 0 |
| IRIDIUM COMMUNICATIONS INC | COM | 46269C102 |  | 385500 | 7500 | SH |  | SOLE |  | 7500 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 1674003 | 4357 | SH |  | SOLE |  | 4357 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 380843 | 5802 | SH |  | SOLE |  | 5802 | 0 | 0 |
| ISHARES TR | CORE S MCP ETF | 464287507 |  | 991749 | 4100 | SH |  | SOLE |  | 4100 | 0 | 0 |
| ISHARES TR | RUSSELL 3000 ETF | 464287689 |  | 8805794 | 39903 | SH |  | SOLE |  | 39903 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 472821 | 4996 | SH |  | SOLE |  | 4996 | 0 | 0 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 398560 | 8000 | SH |  | SOLE |  | 8000 | 0 | 0 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 959222 | 31419 | SH |  | SOLE |  | 31419 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 9092787 | 51473 | SH |  | SOLE |  | 51473 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 6083016 | 45362 | SH |  | SOLE |  | 45361 | 0 | 0 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 266477 | 1963 | SH |  | SOLE |  | 1963 | 0 | 0 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 2020886 | 9706 | SH |  | SOLE |  | 9706 | 0 | 0 |
| LABORATORY CORP AMER HLDGS | COM NEW | 50540R409 |  | 382655 | 1625 | SH |  | SOLE |  | 1625 | 0 | 0 |
| LAUDER ESTEE COS INC | CL A | 518439104 |  | 3897608 | 15709 | SH |  | SOLE |  | 15709 | 0 | 0 |
| LILLY ELI  CO | COM | 532457108 |  | 1855906 | 5073 | SH |  | SOLE |  | 5073 | 0 | 0 |
| LINDE PLC | SHS | G5494J103 |  | 4618025 | 14158 | SH |  | SOLE |  | 14157 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 262218 | 539 | SH |  | SOLE |  | 539 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 410634 | 2061 | SH |  | SOLE |  | 2061 | 0 | 0 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 257906 | 805 | SH |  | SOLE |  | 805 | 0 | 0 |
| MAGELLAN MIDSTREAM PRTNRS LP | COM UNIT RP LP | 559080106 |  | 547550 | 10905 | SH |  | SOLE |  | 10905 | 0 | 0 |
| MARATHON PETE CORP | COM | 56585A102 |  | 308434 | 2650 | SH |  | SOLE |  | 2650 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 554674 | 3725 | SH |  | SOLE |  | 3725 | 0 | 0 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 5597816 | 33828 | SH |  | SOLE |  | 33827 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 866543 | 2492 | SH |  | SOLE |  | 2492 | 0 | 0 |
| MCCORMICK  CO INC | COM VTG | 579780107 |  | 999187 | 12160 | SH |  | SOLE |  | 12160 | 0 | 0 |
| MCCORMICK  CO INC | COM NON VTG | 579780206 |  | 3851186 | 46461 | SH |  | SOLE |  | 46461 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 2157257 | 8186 | SH |  | SOLE |  | 8186 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 355647 | 4576 | SH |  | SOLE |  | 4576 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 5841912 | 52654 | SH |  | SOLE |  | 52653 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 16338051 | 68126 | SH |  | SOLE |  | 68126 | 0 | 0 |
| MODERNA INC | COM | 60770K107 |  | 2774231 | 15445 | SH |  | SOLE |  | 15445 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 511672 | 7677 | SH |  | SOLE |  | 7677 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 260828 | 3068 | SH |  | SOLE |  | 3067 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 1468439 | 31111 | SH |  | SOLE |  | 31111 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 3014118 | 36054 | SH |  | SOLE |  | 36054 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 1604730 | 13714 | SH |  | SOLE |  | 13714 | 0 | 0 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 |  | 1769675 | 19507 | SH |  | SOLE |  | 19507 | 0 | 0 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 6596860 | 48743 | SH |  | SOLE |  | 48742 | 0 | 0 |
| NUTRIEN LTD | COM | 67077M108 |  | 215000 | 2944 | SH |  | SOLE |  | 2944 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1934774 | 13239 | SH |  | SOLE |  | 13239 | 0 | 0 |
| ONEOK INC NEW | COM | 682680103 |  | 3388307 | 51572 | SH |  | SOLE |  | 51572 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 681835 | 8342 | SH |  | SOLE |  | 8341 | 0 | 0 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 696325 | 825 | SH |  | SOLE |  | 825 | 0 | 0 |
| OTIS WORLDWIDE CORP | COM | 68902V107 |  | 4296656 | 54867 | SH |  | SOLE |  | 54867 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 1720249 | 12328 | SH |  | SOLE |  | 12328 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 4341677 | 24032 | SH |  | SOLE |  | 24032 | 0 | 0 |
| PERKINELMER INC | COM | 714046109 |  | 278196 | 1984 | SH |  | SOLE |  | 1984 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 1343343 | 26217 | SH |  | SOLE |  | 26216 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 1044993 | 10325 | SH |  | SOLE |  | 10325 | 0 | 0 |
| PHILLIPS 66 | COM | 718546104 |  | 249792 | 2400 | SH |  | SOLE |  | 2400 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 6632909 | 43764 | SH |  | SOLE |  | 43764 | 0 | 0 |
| PROGRESSIVE CORP | COM | 743315103 |  | 4976640 | 38367 | SH |  | SOLE |  | 38367 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 795746 | 7238 | SH |  | SOLE |  | 7238 | 0 | 0 |
| RAYTHEON TECHNOLOGIES CORP | COM | 75513E101 |  | 1655189 | 16401 | SH |  | SOLE |  | 16401 | 0 | 0 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 257570 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| ROSS STORES INC | COM | 778296103 |  | 921015 | 7935 | SH |  | SOLE |  | 7935 | 0 | 0 |
| RPM INTL INC | COM | 749685103 |  | 451681 | 4635 | SH |  | SOLE |  | 4635 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 527973 | 3982 | SH |  | SOLE |  | 3982 | 0 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 596614 | 11160 | SH |  | SOLE |  | 11160 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 |  | 1243167 | 21829 | SH |  | SOLE |  | 21829 | 0 | 0 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 338907 | 1428 | SH |  | SOLE |  | 1428 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 1128635 | 15805 | SH |  | SOLE |  | 15805 | 0 | 0 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 331330 | 1000 | SH |  | SOLE |  | 1000 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 482627 | 1262 | SH |  | SOLE |  | 1262 | 0 | 0 |
| STAG INDL INC | COM | 85254J102 |  | 683712 | 21161 | SH |  | SOLE |  | 21161 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 382614 | 3857 | SH |  | SOLE |  | 3857 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 438860 | 1795 | SH |  | SOLE |  | 1795 | 0 | 0 |
| SYSCO CORP | COM | 871829107 |  | 886973 | 11602 | SH |  | SOLE |  | 11602 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 2419898 | 16237 | SH |  | SOLE |  | 16236 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 5101643 | 30878 | SH |  | SOLE |  | 30877 | 0 | 0 |
| TEXAS PACIFIC LAND CORPORATI | COM | 88262P102 |  | 3457739 | 1475 | SH |  | SOLE |  | 1475 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 3772247 | 6850 | SH |  | SOLE |  | 6850 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 4020390 | 50507 | SH |  | SOLE |  | 50507 | 0 | 0 |
| TORO CO | COM | 891092108 |  | 489590 | 4325 | SH |  | SOLE |  | 4325 | 0 | 0 |
| TOTALENERGIES SE | SPONSORED ADS | 89151E109 |  | 1465398 | 23605 | SH |  | SOLE |  | 23605 | 0 | 0 |
| TRANSOCEAN LTD | REG SHS | H8817H100 |  | 83448 | 18300 | SH |  | SOLE |  | 18300 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 7689855 | 37137 | SH |  | SOLE |  | 37136 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 1179504 | 6785 | SH |  | SOLE |  | 6785 | 0 | 0 |
| VACCITECH PLC | ADS | 91864C107 |  | 50231 | 21375 | SH |  | SOLE |  | 21375 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 251059 | 3339 | SH |  | SOLE |  | 3339 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | DIV APP ETF | 921908844 |  | 220334 | 1451 | SH |  | SOLE |  | 1451 | 0 | 0 |
| VERISIGN INC | COM | 92343E102 |  | 554688 | 2700 | SH |  | SOLE |  | 2700 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 898231 | 22798 | SH |  | SOLE |  | 22797 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 5691062 | 27392 | SH |  | SOLE |  | 27392 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 203944 | 1300 | SH |  | SOLE |  | 1300 | 0 | 0 |
| WATERS CORP | COM | 941848103 |  | 274064 | 800 | SH |  | SOLE |  | 800 | 0 | 0 |
| WATSCO INC | COM | 942622200 |  | 4141992 | 16608 | SH |  | SOLE |  | 16607 | 0 | 0 |
| WEC ENERGY GROUP INC | COM | 92939U106 |  | 208335 | 2222 | SH |  | SOLE |  | 2222 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 224246 | 5431 | SH |  | SOLE |  | 5431 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 270971 | 1849 | SH |  | SOLE |  | 1849 | 0 | 0 |

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