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    <meetingDate>05/12/2026</meetingDate>
    <voteDescription>Advisory approval of executive compensation.</voteDescription>
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        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteDescription>Say on Pay - An Advisory Vote on the Approval of Executive Compensation</voteDescription>
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    <issuerName>AbbVie Inc.</issuerName>
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    <meetingDate>05/08/2026</meetingDate>
    <voteDescription>Say on Pay - An advisory vote on the approval of executive compensation</voteDescription>
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        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <meetingDate>01/28/2026</meetingDate>
    <voteDescription>To approve, in a non-binding vote, the compensation of our named executive officers.</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <issuerName>Agree Realty Corporation</issuerName>
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    <meetingDate>05/14/2026</meetingDate>
    <voteDescription>To approve, by non-binding vote, executive compensation.</voteDescription>
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        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <issuerName>Air Products and Chemicals, Inc.</issuerName>
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    <meetingDate>01/28/2026</meetingDate>
    <voteDescription>Advisory vote approving the compensation of the Company's named executive officers.</voteDescription>
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    <issuerName>American Tower Corporation</issuerName>
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    <figi>BBG000B9Y214</figi>
    <meetingDate>05/20/2026</meetingDate>
    <voteDescription>To approve, on an advisory basis, the Company's executive compensation.</voteDescription>
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        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <issuerName>Analog Devices, Inc.</issuerName>
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    <meetingDate>03/11/2026</meetingDate>
    <voteDescription>Advisory vote to approve the compensation of our named executive officers.</voteDescription>
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        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <issuerName>Apple Inc.</issuerName>
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    <isin>US0378331005</isin>
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    <meetingDate>02/24/2026</meetingDate>
    <voteDescription>Advisory vote to approve executive compensation</voteDescription>
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        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <issuerName>Arthur J. Gallagher &amp; Co.</issuerName>
    <cusip>363576109</cusip>
    <isin>US3635761097</isin>
    <figi>BBG000BBHZK4</figi>
    <meetingDate>05/12/2026</meetingDate>
    <voteDescription>Approval, on an Advisory Basis, of the Compensation of our Named Executive Officers.</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <issuerName>AT&amp;T Inc.</issuerName>
    <cusip>00206R102</cusip>
    <isin>US00206R1023</isin>
    <figi>BBG000BSJLV4</figi>
    <meetingDate>05/14/2026</meetingDate>
    <voteDescription>Advisory Approval of Executive Compensation</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <issuerName>Automatic Data Processing, Inc.</issuerName>
    <cusip>053015103</cusip>
    <isin>US0530151036</isin>
    <figi>BBG000JG1MT2</figi>
    <meetingDate>11/12/2025</meetingDate>
    <voteDescription>Advisory Vote on Executive Compensation.</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <issuerName>BlackRock, Inc.</issuerName>
    <cusip>09290D101</cusip>
    <isin>US09290D1019</isin>
    <figi>BBG01PT1FFJ9</figi>
    <meetingDate>05/20/2026</meetingDate>
    <voteDescription>Approval, in a non-binding advisory vote, of the compensation for named executive officers.</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>115800</sharesVoted>
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        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Broadcom Inc.</issuerName>
    <cusip>11135F101</cusip>
    <isin>US11135F1012</isin>
    <figi>BBG00KHY5SQ7</figi>
    <meetingDate>04/20/2026</meetingDate>
    <voteDescription>Advisory vote to approve the named executive officer compensation.</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>342500</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>342500</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Chevron Corporation</issuerName>
    <cusip>166764100</cusip>
    <isin>US1667641005</isin>
    <figi>BBG000K4NHJ5</figi>
    <meetingDate>05/27/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Named Executive Officer Compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>635961</sharesVoted>
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        <sharesVoted>635961</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Cisco Systems, Inc.</issuerName>
    <cusip>17275R102</cusip>
    <isin>US17275R1023</isin>
    <figi>BBG000C3JBN9</figi>
    <meetingDate>12/16/2025</meetingDate>
    <voteDescription>Approval, on an advisory basis, of executive compensation.</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>1334000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>1334000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>CME Group Inc.</issuerName>
    <cusip>12572Q105</cusip>
    <isin>US12572Q1058</isin>
    <figi>BBG000BHMC53</figi>
    <meetingDate>06/09/2026</meetingDate>
    <voteDescription>Advisory vote on the compensation of our named executive officers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>29900</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>29900</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Comcast Corporation</issuerName>
    <cusip>20030N101</cusip>
    <isin>US20030N1019</isin>
    <figi>BBG000BFTG15</figi>
    <meetingDate>06/10/2026</meetingDate>
    <voteDescription>Advisory vote on executive compensation</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>1603000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
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        <howVoted>FOR</howVoted>
        <sharesVoted>1603000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Cummins Inc.</issuerName>
    <cusip>231021106</cusip>
    <isin>US2310211063</isin>
    <figi>BBG000BGPXY4</figi>
    <meetingDate>05/12/2026</meetingDate>
    <voteDescription>Advisory vote to approve the compensation of our named executive officers as disclosed in the proxy statement.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>581100</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
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        <howVoted>FOR</howVoted>
        <sharesVoted>581100</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Dollar General Corporation</issuerName>
    <cusip>256677105</cusip>
    <isin>US2566771059</isin>
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    <meetingDate>05/28/2026</meetingDate>
    <voteDescription>To approve, on an advisory (non-binding) basis, the resolution regarding the compensation of Dollar General Corporation's named executive officers as disclosed in the proxy statement.</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>436567</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <sharesVoted>436567</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Dover Corporation</issuerName>
    <cusip>260003108</cusip>
    <isin>US2600031080</isin>
    <figi>BBG000BHB4Z0</figi>
    <meetingDate>05/08/2026</meetingDate>
    <voteDescription>To approve, on an advisory basis, named executive officer compensation.</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>368780</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>368780</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Duke Energy Corporation</issuerName>
    <cusip>26441C204</cusip>
    <isin>US26441C2044</isin>
    <figi>BBG000BHGGD2</figi>
    <meetingDate>05/07/2026</meetingDate>
    <voteDescription>Advisory vote to approve Duke Energy's named executive officer compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>794816</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>794816</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Enbridge Inc.</issuerName>
    <cusip>29250N105</cusip>
    <isin>CA29250N1050</isin>
    <figi>BBG000K5M411</figi>
    <meetingDate>05/06/2026</meetingDate>
    <voteDescription>Accept Enbridge's approach to executive compensation, as disclosed in the Management Information Circular</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>1647025</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>1647025</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Exxon Mobil Corporation</issuerName>
    <cusip>30231G102</cusip>
    <isin>US30231G1022</isin>
    <figi>BBG000GZQBJ1</figi>
    <meetingDate>05/27/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Executive Compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>1172200</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
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        <howVoted>FOR</howVoted>
        <sharesVoted>1172200</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Hasbro, Inc.</issuerName>
    <cusip>418056107</cusip>
    <isin>US4180561072</isin>
    <figi>BBG000BKVWG0</figi>
    <meetingDate>06/11/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve the Compensation of the Company's Named Executive Officers.</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>1046968</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
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        <sharesVoted>1046968</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Honeywell International Inc.</issuerName>
    <cusip>438516106</cusip>
    <isin>US4385161066</isin>
    <figi>BBG000H556T9</figi>
    <meetingDate>05/22/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Executive Compensation.</voteDescription>
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        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>245000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
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        <sharesVoted>245000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>Johnson &amp; Johnson</issuerName>
    <cusip>478160104</cusip>
    <isin>US4781601046</isin>
    <figi>BBG000BMHZY5</figi>
    <meetingDate>04/23/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Named Executive Officer Compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>1066000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>1066000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>JPMorgan Chase &amp; Co.</issuerName>
    <cusip>46625H100</cusip>
    <isin>US46625H1005</isin>
    <figi>BBG000DMBZW1</figi>
    <meetingDate>05/19/2026</meetingDate>
    <voteDescription>Advisory resolution to approve executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>1512189</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>1512189</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    </vote>
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  <proxyTable>
    <issuerName>Lam Research Corporation</issuerName>
    <cusip>512807306</cusip>
    <isin>US5128073062</isin>
    <figi>BBG000BNFLM9</figi>
    <meetingDate>11/04/2025</meetingDate>
    <voteDescription>Advisory vote to approve the compensation of the named executive officers of Lam Research, or &quot;Say on Pay.&quot;</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>2492110</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>2492110</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
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  <proxyTable>
    <issuerName>LyondellBasell Industries N.V.</issuerName>
    <cusip>N53745100</cusip>
    <isin>NL0009434992</isin>
    <figi>BBG000WCFWH2</figi>
    <meetingDate>05/22/2026</meetingDate>
    <voteDescription>Advisory Vote Approving Executive Compensation (Say-on-Pay)</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>885666</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>885666</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    </vote>
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  <proxyTable>
    <issuerName>Marsh &amp; McLennan Companies, Inc.</issuerName>
    <cusip>571748102</cusip>
    <isin>US5717481023</isin>
    <figi>BBG000BP4P74</figi>
    <meetingDate>05/21/2026</meetingDate>
    <voteDescription>Advisory (Nonbinding) Vote to Approve Named Executive Officer Compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>275766</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>275766</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
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  <proxyTable>
    <issuerName>Mastercard Incorporated</issuerName>
    <cusip>57636Q104</cusip>
    <isin>US57636Q1040</isin>
    <figi>BBG000F20WW2</figi>
    <meetingDate>06/16/2026</meetingDate>
    <voteDescription>Advisory approval of Mastercard's executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>61000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>61000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
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  <proxyTable>
    <issuerName>McDonald's Corporation</issuerName>
    <cusip>580135101</cusip>
    <isin>US5801351017</isin>
    <figi>BBG000BNT1L9</figi>
    <meetingDate>05/20/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Executive Compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>389000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>389000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
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  <proxyTable>
    <issuerName>Microchip Technology Incorporated</issuerName>
    <cusip>595017104</cusip>
    <isin>US5950171042</isin>
    <figi>BBG000BHD1P5</figi>
    <meetingDate>08/19/2025</meetingDate>
    <voteDescription>Proposal to approve, on an advisory (non-binding) basis, the compensation of our named executives.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>509100</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>509100</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    </vote>
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  <proxyTable>
    <issuerName>Microsoft Corporation</issuerName>
    <cusip>594918104</cusip>
    <isin>US5949181045</isin>
    <figi>BBG000BPHFS9</figi>
    <meetingDate>12/05/2025</meetingDate>
    <voteDescription>Advisory Vote to Approve Named Executive Officer Compensation (&quot;say-on-pay vote&quot;)</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>1183997</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>1183997</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
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  <proxyTable>
    <issuerName>Mondelez International, Inc.</issuerName>
    <cusip>609207105</cusip>
    <isin>US6092071058</isin>
    <figi>BBG000D4M6H0</figi>
    <meetingDate>05/20/2026</meetingDate>
    <voteDescription>To approve, on an advisory basis, the Company's executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>1159500</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>1159500</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>NextEra Energy, Inc.</issuerName>
    <cusip>65339F101</cusip>
    <isin>US65339F1012</isin>
    <figi>BBG000BJSF01</figi>
    <meetingDate>05/21/2026</meetingDate>
    <voteDescription>Approval, by non-binding advisory vote, of NextEra Energy's compensation of its named executive officers as disclosed in the proxy statement.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>491000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>491000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>Norfolk Southern Corporation</issuerName>
    <cusip>655844108</cusip>
    <isin>US6558441084</isin>
    <figi>BBG000BQ5GM4</figi>
    <meetingDate>11/14/2025</meetingDate>
    <voteDescription>To approve, on a non-binding advisory basis, the compensation that may be paid or become payable to the named executive officers of Norfolk Southern in connection with the transactions contemplated by the merger agreement.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>264400</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>264400</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>Norfolk Southern Corporation</issuerName>
    <cusip>655844108</cusip>
    <isin>US6558441084</isin>
    <figi>BBG000BQ5GM4</figi>
    <meetingDate>05/07/2026</meetingDate>
    <voteDescription>Approval of the advisory resolution on executive compensation, as disclosed in the proxy statement for the 2026 Annual Meeting of Shareholders.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>217000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>217000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>Owens Corning</issuerName>
    <cusip>690742101</cusip>
    <isin>US6907421019</isin>
    <figi>BBG000M44Y70</figi>
    <meetingDate>04/14/2026</meetingDate>
    <voteDescription>To approve, on an advisory basis, our named executive officer compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>212000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>212000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>PepsiCo, Inc.</issuerName>
    <cusip>713448108</cusip>
    <isin>US7134481081</isin>
    <figi>BBG000DH7TN1</figi>
    <meetingDate>05/06/2026</meetingDate>
    <voteDescription>Advisory approval of the Company's executive compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>1240500</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>1240500</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>Philip Morris International Inc.</issuerName>
    <cusip>718172109</cusip>
    <isin>US7181721090</isin>
    <figi>BBG000J2XPB0</figi>
    <meetingDate>05/06/2026</meetingDate>
    <voteDescription>Advisory Vote Approving Executive Compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>242435</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>242435</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>Pinnacle West Capital Corporation</issuerName>
    <cusip>723484101</cusip>
    <isin>US7234841010</isin>
    <figi>BBG000BRDVJ4</figi>
    <meetingDate>05/14/2026</meetingDate>
    <voteDescription>To hold an advisory vote to approve executive compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>296838</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>296838</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
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  <proxyTable>
    <issuerName>Prologis, Inc.</issuerName>
    <cusip>74340W103</cusip>
    <isin>US74340W1036</isin>
    <figi>BBG000B9Z339</figi>
    <meetingDate>04/28/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve the Company's Executive Compensation for 2025.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>168000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>168000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>QUALCOMM Incorporated</issuerName>
    <cusip>747525103</cusip>
    <isin>US7475251036</isin>
    <figi>BBG000CGCDW3</figi>
    <meetingDate>03/17/2026</meetingDate>
    <voteDescription>Approval, on an advisory basis, of the compensation of our named executive officers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>427500</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>427500</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>QUALCOMM Incorporated</issuerName>
    <cusip>747525103</cusip>
    <isin>US7475251036</isin>
    <figi>BBG000CGCDW3</figi>
    <meetingDate>03/17/2026</meetingDate>
    <voteDescription>Approval on an advisory basis, of the frequency of future votes on our executive compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>427500</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>ONE YEAR</howVoted>
        <sharesVoted>427500</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>Regions Financial Corporation</issuerName>
    <cusip>7591EP100</cusip>
    <isin>US7591EP1005</isin>
    <figi>BBG000Q3JQJ6</figi>
    <meetingDate>05/06/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Regions' Executive Compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>3545893</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>3545893</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>RPM International Inc.</issuerName>
    <cusip>749685103</cusip>
    <isin>US7496851038</isin>
    <figi>BBG000DCPNF4</figi>
    <meetingDate>10/02/2025</meetingDate>
    <voteDescription>Approve the Company's executive compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>1033303</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>1033303</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>RTX Corporation</issuerName>
    <cusip>75513E101</cusip>
    <isin>US75513E1010</isin>
    <figi>BBG000BW8TX8</figi>
    <meetingDate>04/30/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Executive Compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>1121916</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>1121916</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>Snap-on Incorporated</issuerName>
    <cusip>833034101</cusip>
    <isin>US8330341012</isin>
    <figi>BBG000BT7MD3</figi>
    <meetingDate>04/30/2026</meetingDate>
    <voteDescription>Advisory vote to approve the compensation of Snap-on Incorporated's named executive officers, as disclosed in &quot;Compensation Discussion and Analysis&quot; and &quot;Executive Compensation Information&quot; in the Proxy Statement.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>123900</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>123900</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>SouthState Bank Corporation</issuerName>
    <cusip>84472E102</cusip>
    <isin>US84472E1029</isin>
    <figi>BBG000BNQ0V3</figi>
    <meetingDate>04/15/2026</meetingDate>
    <voteDescription>Approval, as an advisory, non-binding &quot;say on pay&quot; resolution, of our executive compensation;</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>145774</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>145774</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>The Home Depot, Inc.</issuerName>
    <cusip>437076102</cusip>
    <isin>US4370761029</isin>
    <figi>BBG000BKZDM1</figi>
    <meetingDate>05/21/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Executive Compensation (&quot;Say-on-Pay&quot;)</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>226446</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>226446</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>The Procter &amp; Gamble Company</issuerName>
    <cusip>742718109</cusip>
    <isin>US7427181091</isin>
    <figi>BBG000BR2WS4</figi>
    <meetingDate>10/14/2025</meetingDate>
    <voteDescription>Advisory Vote to Approve the Company's Executive Compensation (the &quot;Say on Pay&quot; vote)</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>1027504</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>1027504</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>The TJX Companies, Inc.</issuerName>
    <cusip>872540109</cusip>
    <isin>US8725401090</isin>
    <figi>BBG000BV8G95</figi>
    <meetingDate>06/09/2026</meetingDate>
    <voteDescription>Advisory approval of TJX's executive compensation (the say-on-pay vote)</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <voteSource>ISSUER</voteSource>
    <sharesVoted>963000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>963000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>Thermo Fisher Scientific Inc.</issuerName>
    <cusip>883556102</cusip>
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    <meetingDate>06/01/2026</meetingDate>
    <voteDescription>Advisory approval of the Company's executive compensation.</voteDescription>
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    <figi>BBG000BBGKP3</figi>
    <meetingDate>05/07/2026</meetingDate>
    <voteDescription>Advisory vote to approve the 2025 compensation of named executive officers.</voteDescription>
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        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <meetingDate>05/21/2026</meetingDate>
    <voteDescription>Advisory vote to approve executive compensation</voteDescription>
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    <meetingDate>05/07/2026</meetingDate>
    <voteDescription>Advisory vote to approve executive compensation of the named executive officers</voteDescription>
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    <voteSource>ISSUER</voteSource>
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    <meetingDate>06/10/2026</meetingDate>
    <voteDescription>To approve, on an advisory (non-binding) basis, the compensation of executives.</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
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        <sharesVoted>725000</sharesVoted>
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    <issuerName>Xylem Inc.</issuerName>
    <cusip>98419M100</cusip>
    <isin>US98419M1009</isin>
    <figi>BBG00256TDP9</figi>
    <meetingDate>05/14/2026</meetingDate>
    <voteDescription>Advisory vote to approve the compensation of our named executive officers.</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <voteSource>ISSUER</voteSource>
    <sharesVoted>235500</sharesVoted>
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        <sharesVoted>235500</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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