The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AT&T Inc. COM 00206R102 5,306 158,000 SH   SOLE   158,000 0 0
AbbVie Inc. COM 00287Y109 6,327 66,900 SH   SOLE   66,900 0 0
Air Products & Chemicals Inc. COM 009158106 6,147 36,800 SH   SOLE   36,800 0 0
Alliant Energy Corp. COM 018802108 4,971 116,778 SH   SOLE   116,778 0 0
Altria Group Inc. COM 02209S103 2,111 35,000 SH   SOLE   35,000 0 0
Ameren Corp. COM 023608102 5,005 79,165 SH   SOLE   79,165 0 0
American Electric Power Co. COM 025537101 5,855 82,600 SH   SOLE   82,600 0 0
Amgen Inc. COM 031162100 6,136 29,600 SH   SOLE   29,600 0 0
Branch Bank & Trust COM 054937107 4,956 102,100 SH   SOLE   102,100 0 0
Bristol-Myers Squibb Co. COM 110122108 3,458 55,700 SH   SOLE   55,700 0 0
CMS Energy Corp. COM 125896100 1,681 34,300 SH   SOLE   34,300 0 0
CVS Health Corp. COM 126650100 3,849 48,900 SH   SOLE   48,900 0 0
CenterPoint Energy Inc. COM 15189T107 4,081 147,600 SH   SOLE   147,600 0 0
Chevron Corp. COM 166764100 3,974 32,500 SH   SOLE   32,500 0 0
Cisco Systems Inc. COM 17275R102 6,952 142,900 SH   SOLE   142,900 0 0
Citizens Financial Group COM 174610105 2,468 64,000 SH   SOLE   64,000 0 0
Clorox Co. COM 189054109 752 5,000 SH   SOLE   5,000 0 0
Coca Cola Co. COM 191216100 5,912 128,000 SH   SOLE   128,000 0 0
Comcast Corp. COM 20030N101 903 25,500 SH   SOLE   25,500 0 0
Cummins Inc. COM 231021106 1,782 12,200 SH   SOLE   12,200 0 0
DTE Energy Co. COM 233331107 5,319 48,740 SH   SOLE   48,740 0 0
Dominion Resources Inc. COM 25746U109 5,756 81,900 SH   SOLE   81,900 0 0
DowDupont Inc. COM 26078J100 5,917 92,000 SH   SOLE   92,000 0 0
Duke Energy Corp. COM 26441C204 5,937 74,200 SH   SOLE   74,200 0 0
Eaton Corp. PLC COM G29183103 1,838 21,200 SH   SOLE   21,200 0 0
Emerson Electric Co. COM 291011104 1,225 16,000 SH   SOLE   16,000 0 0
Entergy Corp. COM 29364G103 1,298 16,000 SH   SOLE   16,000 0 0
Evergy Inc. COM 30034W106 4,300 78,294 SH   SOLE   78,294 0 0
Eversource Energy COM 30040W108 3,932 64,000 SH   SOLE   64,000 0 0
Exelon Corp. COM 30161N101 2,445 56,000 SH   SOLE   56,000 0 0
Exxon Mobil Corp. COM 30231G102 3,061 36,000 SH   SOLE   36,000 0 0
Fifth Third Bancorp COM 316773100 3,180 113,900 SH   SOLE   113,900 0 0
General Mills Inc. COM 370334104 3,592 83,700 SH   SOLE   83,700 0 0
General Motors Co. COM 37045V100 2,980 88,500 SH   SOLE   88,500 0 0
Hasbro Inc. COM 418056107 2,723 25,900 SH   SOLE   25,900 0 0
Huntington Bancshares COM 446150104 3,051 204,500 SH   SOLE   204,500 0 0
Intel Corp. COM 458140100 5,881 124,350 SH   SOLE   124,350 0 0
International Paper Co. COM 460146103 3,047 62,000 SH   SOLE   62,000 0 0
IShares CORE HIGH DV ETF 46429B663 17,583 194,200 SH   SOLE   0 0 194,200
IShares S&P US PFD STK 464288687 669 18,007 SH   SOLE   0 0 18,007
JP Morgan Chase & Co. COM 46625H100 2,855 25,300 SH   SOLE   25,300 0 0
Johnson & Johnson COM 478160104 6,812 49,300 SH   SOLE   49,300 0 0
Kellogg Co. COM 487836108 3,921 56,000 SH   SOLE   56,000 0 0
Keurig Dr Pepper Inc. COM 49271V100 278 12,000 SH   SOLE   12,000 0 0
Kimberly-Clark Corp. COM 494368103 5,682 50,000 SH   SOLE   50,000 0 0
The Kraft Heinz Co. COM 500754106 3,665 66,500 SH   SOLE   66,500 0 0
Leggett & Platt Inc. COM 524660107 2,680 61,200 SH   SOLE   61,200 0 0
Lockheed Martin Corp. COM 539830109 692 2,000 SH   SOLE   2,000 0 0
Marathon Petroleum Corp. COM 56585A102 2,495 31,200 SH   SOLE   31,200 0 0
McDonald's Corp. COM 580135101 2,442 14,600 SH   SOLE   14,600 0 0
Merck & Co. Inc. COM 58933Y105 5,562 78,400 SH   SOLE   78,400 0 0
Metlife Inc. COM 59156R108 0 10 SH   SOLE   10 0 0
Microsoft Corp. COM 594918104 572 5,000 SH   SOLE   5,000 0 0
Microchip Technology Inc. COM 595017104 5,319 67,400 SH   SOLE   67,400 0 0
Nextera Energy Inc. COM 65339F101 5,866 35,000 SH   SOLE   35,000 0 0
Nisource Inc. COM 65473P105 2,661 106,795 SH   SOLE   106,795 0 0
Nucor Corp. COM 670346105 876 13,800 SH   SOLE   13,800 0 0
OGE Energy Corp. COM 670837103 2,270 62,500 SH   SOLE   62,500 0 0
Oneok Inc. COM 682680103 2,440 36,000 SH   SOLE   36,000 0 0
PPL Corp. COM 69351T106 4,130 141,142 SH   SOLE   141,142 0 0
Paychex Inc. COM 704326107 6,606 89,700 SH   SOLE   89,700 0 0
PepsiCo Inc. COM 713448108 6,149 55,000 SH   SOLE   55,000 0 0
Pfizer Inc. COM 717081103 6,170 140,000 SH   SOLE   140,000 0 0
Philip Morris Int'l, Inc. COM 718172109 3,759 46,100 SH   SOLE   46,100 0 0
Pinnacle West Capital COM 723484101 4,505 56,900 SH   SOLE   56,900 0 0
Portland General Electric Co. COM 736508847 3,284 72,000 SH   SOLE   72,000 0 0
Proctor & Gamble Co. COM 742718109 5,235 62,900 SH   SOLE   62,900 0 0
Prudential Financial COM 744320102 5,198 51,300 SH   SOLE   51,300 0 0
Public Svc Enterprise Group COM 744573106 5,195 98,400 SH   SOLE   98,400 0 0
Regions Financial Corp. COM 7591EP100 973 53,000 SH   SOLE   53,000 0 0
Schwab US DIVIDEND EQ 808524797 25,032 472,300 SH   SOLE   0 0 472,300
Sempra Energy COM 816851109 2,133 18,750 SH   SOLE   18,750 0 0
South Jersey Industries COM 838518108 2,469 70,000 SH   SOLE   70,000 0 0
Spire Inc. COM 84857L101 3,854 52,400 SH   SOLE   52,400 0 0
Sysco Corp. COM 871829107 4,029 55,000 SH   SOLE   55,000 0 0
Target Corp. COM 87612E106 6,616 75,000 SH   SOLE   75,000 0 0
3M Company COM 88579Y101 6,216 29,500 SH   SOLE   29,500 0 0
US Bancorp COM 902973304 3,274 62,000 SH   SOLE   62,000 0 0
Vanguard FTSE DEV MKT ETF 921943858 73,157 1,690,700 SH   SOLE   0 0 1,690,700
Vanguard HIGH DIV YLD 921946406 23,611 271,106 SH   SOLE   0 0 271,106
Vanguard TOTAL STK MKT 922908769 120,827 807,400 SH   SOLE   0 0 807,400
Verizon Comm. Inc. COM 92343V104 5,606 105,000 SH   SOLE   105,000 0 0
WEC Energy Group Inc. COM 92939U106 4,279 64,100 SH   SOLE   64,100 0 0
Walmart Stores Inc. COM 931142103 4,414 47,000 SH   SOLE   47,000 0 0
Waste Management Inc. COM 94106L109 4,373 48,400 SH   SOLE   48,400 0 0
Wells Fargo & Company COM 949746101 4,205 80,000 SH   SOLE   80,000 0 0
Xcel Energy Inc. COM 98389B100 6,360 134,709 SH   SOLE   134,709 0 0