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
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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
AbbVie Inc. COM 00287Y109 4,865 66,900 SH   SOLE   66,900 0 0
Air Products & Chemicals Inc. COM 009158106 7,425 32,800 SH   SOLE   32,800 0 0
Alliant Energy Corp. COM 018802108 5,241 106,778 SH   SOLE   106,778 0 0
Altria Group Inc. COM 02209S103 1,657 35,000 SH   SOLE   35,000 0 0
Ameren Corp. COM 023608102 5,571 74,165 SH   SOLE   74,165 0 0
American Electric Power Co. COM 025537101 6,830 77,600 SH   SOLE   77,600 0 0
Amgen Inc. COM 031162100 4,718 25,600 SH   SOLE   25,600 0 0
Apple Inc. COM 037833100 2,672 13,500 SH   SOLE   13,500 0 0
AT&T Inc. COM 00206R102 5,295 158,000 SH   SOLE   158,000 0 0
Bank of New York Mellon COM 064058100 2,295 51,993 SH   SOLE   51,993 0 0
Blackrock Inc. COM 09247X101 704 1,500 SH   SOLE   1,500 0 0
Branch Bank & Trust COM 054937107 5,311 108,100 SH   SOLE   108,100 0 0
Bristol-Myers Squibb Co. COM 110122108 2,526 55,700 SH   SOLE   55,700 0 0
CenterPoint Energy Inc. COM 15189T107 4,143 144,693 SH   SOLE   144,693 0 0
Chevron Corp. COM 166764100 4,044 32,500 SH   SOLE   32,500 0 0
Cisco Systems Inc. COM 17275R102 7,443 136,000 SH   SOLE   136,000 0 0
Citizens Financial Group COM 174610105 3,126 88,400 SH   SOLE   88,400 0 0
Clorox Co. COM 189054109 766 5,000 SH   SOLE   5,000 0 0
CMS Energy Corp. COM 125896100 1,986 34,300 SH   SOLE   34,300 0 0
Coca Cola Co. COM 191216100 6,161 121,000 SH   SOLE   121,000 0 0
Comcast Corp. COM 20030N101 2,875 68,000 SH   SOLE   68,000 0 0
Corteva Inc. COM 22052L104 907 30,666 SH   SOLE   30,666 0 0
CVS Health Corp. COM 126650100 3,100 56,900 SH   SOLE   56,900 0 0
Dominion Energy Inc. COM 25746U109 3,464 44,800 SH   SOLE   44,800 0 0
Dow Inc. COM 260557103 1,512 30,666 SH   SOLE   30,666 0 0
DTE Energy Co. COM 233331107 6,233 48,740 SH   SOLE   48,740 0 0
Duke Energy Corp. COM 26441C204 4,430 50,200 SH   SOLE   50,200 0 0
Dupont de Nemours Inc. COM 26614N102 2,302 30,666 SH   SOLE   30,666 0 0
Eastman Chemical Co. COM 277432100 2,024 26,000 SH   SOLE   26,000 0 0
Eaton Corp. PLC COM G29183103 2,100 25,200 SH   SOLE   25,200 0 0
Emerson Electric Co. COM 291011104 1,068 16,000 SH   SOLE   16,000 0 0
Entergy Corp. COM 29364G103 1,647 16,000 SH   SOLE   16,000 0 0
Evergy Inc. COM 30034W106 4,397 73,094 SH   SOLE   73,094 0 0
Eversource Energy COM 30040W108 4,849 64,000 SH   SOLE   64,000 0 0
Exelon Corp. COM 30161N101 2,685 56,000 SH   SOLE   56,000 0 0
Exxon Mobil Corp. COM 30231G102 3,081 40,200 SH   SOLE   40,200 0 0
Fifth Third Bancorp COM 316773100 3,178 113,900 SH   SOLE   113,900 0 0
General Motors Co. COM 37045V100 3,410 88,500 SH   SOLE   88,500 0 0
Hasbro Inc. COM 418056107 3,107 29,400 SH   SOLE   29,400 0 0
Huntington Bancshares COM 446150104 3,103 224,500 SH   SOLE   224,500 0 0
Huntsman Corp. COM 447011107 2,297 112,400 SH   SOLE   112,400 0 0
Intel Corp. COM 458140100 5,354 111,850 SH   SOLE   111,850 0 0
International Paper Co. COM 460146103 2,993 69,100 SH   SOLE   69,100 0 0
IShares U.S. Preferred Stock ETF 46429B663 1,016 27,558 SH   SOLE   0 0 27,558
Johnson & Johnson COM 478160104 5,195 37,300 SH   SOLE   37,300 0 0
JP Morgan Chase & Co. COM 46625H100 3,773 33,750 SH   SOLE   33,750 0 0
Kellogg Co. COM 487836108 3,000 56,000 SH   SOLE   56,000 0 0
Kimberly-Clark Corp. COM 494368103 4,665 35,000 SH   SOLE   35,000 0 0
Kohl's Corp. COM 500255104 2,282 48,000 SH   SOLE   48,000 0 0
The Kraft Heinz Co. COM 500754106 1,180 38,000 SH   SOLE   38,000 0 0
Leggett & Platt Inc. COM 524660107 1,888 49,200 SH   SOLE   49,200 0 0
Lockheed Martin Corp. COM 539830109 727 2,000 SH   SOLE   2,000 0 0
Marathon Petroleum Corp. COM 56585A102 2,246 40,200 SH   SOLE   40,200 0 0
McDonald's Corp. COM 580135101 3,032 14,600 SH   SOLE   14,600 0 0
Merck & Co. Inc. COM 58933Y105 6,574 78,400 SH   SOLE   78,400 0 0
Metlife Inc. COM 59156R108 0 10 SH   SOLE   10 0 0
Microchip Technology Inc. COM 595017104 5,107 58,900 SH   SOLE   58,900 0 0
Microsoft Corp. COM 594918104 670 5,000 SH   SOLE   5,000 0 0
Nextera Energy Inc. COM 65339F101 7,170 35,000 SH   SOLE   35,000 0 0
Nisource Inc. COM 65473P105 3,076 106,795 SH   SOLE   106,795 0 0
Northern Trust Corp. COM 665859104 2,043 22,700 SH   SOLE   22,700 0 0
Nucor Corp. COM 670346105 2,369 43,000 SH   SOLE   43,000 0 0
Oneok Inc. COM 682680103 3,454 50,200 SH   SOLE   50,200 0 0
Paychex Inc. COM 704326107 6,970 84,700 SH   SOLE   84,700 0 0
PepsiCo Inc. COM 713448108 6,163 47,000 SH   SOLE   47,000 0 0
Pfizer Inc. COM 717081103 5,718 132,000 SH   SOLE   132,000 0 0
Philip Morris Int'l, Inc. COM 718172109 3,338 42,500 SH   SOLE   42,500 0 0
Phillips 66 COM 718546104 3,133 33,489 SH   SOLE   33,489 0 0
Pinnacle West Capital COM 723484101 5,194 55,200 SH   SOLE   55,200 0 0
Portland General Electric Co. COM 736508847 2,411 44,500 SH   SOLE   44,500 0 0
PPL Corp. COM 69351T106 2,516 81,142 SH   SOLE   81,142 0 0
Proctor & Gamble Co. COM 742718109 4,485 40,900 SH   SOLE   40,900 0 0
Prudential Financial COM 744320102 4,474 44,300 SH   SOLE   44,300 0 0
Public Svc Enterprise Group COM 744573106 5,788 98,400 SH   SOLE   98,400 0 0
Regions Financial Corp. COM 7591EP100 2,748 183,941 SH   SOLE   183,941 0 0
Schwab US Dividend ETF 808524797 12,073 227,500 SH   SOLE   0 0 227,500
State Street Corp. COM 857477103 3,078 54,900 SH   SOLE   54,900 0 0
Sysco Corp. COM 871829107 3,890 55,000 SH   SOLE   55,000 0 0
Target Corp. COM 87612E106 5,197 60,000 SH   SOLE   60,000 0 0
3M Company COM 88579Y101 4,420 25,500 SH   SOLE   25,500 0 0
United Parcel Service COM 911312106 3,336 32,300 SH   SOLE   32,300 0 0
US Bancorp COM 902973304 3,249 62,000 SH   SOLE   62,000 0 0
Vanguard FTSE Dev. Market ETF 921943858 60,851 1,458,900 SH   SOLE   0 0 1,458,900
Vanguard High DVD Yield ETF 921946406 24,046 275,192 SH   SOLE   0 0 275,192
Vanguard Total Stock Market Index ETF 922908769 110,751 737,900 SH   SOLE   0 0 737,900
Verizon Comm. Inc. COM 92343V104 5,427 95,000 SH   SOLE   95,000 0 0
Walmart Inc. COM 931142103 5,193 47,000 SH   SOLE   47,000 0 0
Waste Management Inc. COM 94106L109 5,584 48,400 SH   SOLE   48,400 0 0
WEC Energy Group Inc. COM 92939U106 5,344 64,100 SH   SOLE   64,100 0 0
Wells Fargo & Company COM 949746101 3,786 80,000 SH   SOLE   80,000 0 0
Williams Companies Inc. COM 969457100 2,524 90,000 SH   SOLE   90,000 0 0
Xcel Energy Inc. COM 98389B100 7,181 120,709 SH   SOLE   120,709 0 0