﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2024v5.1">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2025-05-06T08:48:31-05:00</ReturnTs>
    <TaxPeriodEndDt>2024-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>420714325</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>RSM US LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>201 FIRST STREET SE STE 800</AddressLine1Txt>
        <CityNm>CEDAR RAPIDS</CityNm>
        <StateAbbreviationCd>IA</StateAbbreviationCd>
        <ZIPCd>524011512</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>421462088</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>THE GERDIN CHARITABLE FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>GERD</BusinessNameControlTxt>
      <PhoneNum>3196263600</PhoneNum>
      <USAddress>
        <AddressLine1Txt>901 HEARTLAND WAY</AddressLine1Txt>
        <CityNm>NORTH LIBERTY</CityNm>
        <StateAbbreviationCd>IA</StateAbbreviationCd>
        <ZIPCd>52317</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>MICHAEL GERDIN</PersonNm>
      <PersonTitleTxt>VICE PRESIDENT</PersonTitleTxt>
      <PhoneNum>3196263600</PhoneNum>
      <SignatureDt>2025-05-01</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>0</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>SHAWNA HULS</PreparerPersonNm>
      <PTIN>P01315330</PTIN>
      <PhoneNum>3192985333</PhoneNum>
      <PreparationDt>2025-05-01</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="9">
    <IRS990PF documentId="RetDoc1235000001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>134422657</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>229156</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>229156</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>2680571</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>2680571</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>989132</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>4669927</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>862935</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>3898859</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>3772662</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>0</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>0</CompOfcrDirTrstDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002100001">128</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>0</LegalFeesNetInvstIncmAmt>
        <LegalFeesDsbrsChrtblAmt>128</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002200001">11281</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>0</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>11281</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002300001">144307</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>144307</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesDsbrsChrtblAmt>0</OtherProfFeesDsbrsChrtblAmt>
        <InterestRevAndExpnssAmt>53592</InterestRevAndExpnssAmt>
        <InterestNetInvstIncmAmt>53592</InterestNetInvstIncmAmt>
        <InterestDsbrsChrtblAmt>0</InterestDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc2002500001">64678</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>6037</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>0</TaxesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>273986</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>203936</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>11409</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>5172500</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>5172500</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>5446486</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>203936</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>5183909</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-1547627</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>3568726</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>16514976</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>10930817</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>10936075</SavAndTempCashInvstEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>0</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt referenceDocumentId="RetDoc2210400001">3927059</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>3901427</USGovtObligationsEOYFMVAmt>
        <CorporateStockBOYAmt>34014853</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc2018900001">34121163</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>74578683</CorporateStockEOYFMVAmt>
        <OtherInvestmentsBOYAmt>18088196</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="RetDoc2018100001">18088195</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>45006472</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>68618025</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>67067234</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>134422657</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>25037662</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>25037662</CapitalStockEOYAmt>
        <AdditionalPaidInCapitalBOYAmt>0</AdditionalPaidInCapitalBOYAmt>
        <AdditionalPaidInCapitalEOYAmt>0</AdditionalPaidInCapitalEOYAmt>
        <RetainedEarningBOYAmt>43580363</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>42029572</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>68618025</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>67067234</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>68618025</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>67067234</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>68618025</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-1547627</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt>0</OtherIncreasesAmt>
        <SubtotalAmt>67070398</SubtotalAmt>
        <OtherDecreasesAmt referenceDocumentId="RetDoc2049800001">3164</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>67067234</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>PUBLICLY TRADED SECURITIES</PropertyDesc>
          <GrossSalesPriceAmt>3946245</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>3806992</CostOrOtherBasisAmt>
          <GainOrLossAmt>139253</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>139253</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAINS DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>723682</GrossSalesPriceAmt>
          <GainOrLossAmt>723682</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>723682</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>862935</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>49605</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>49605</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>49605</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>48000</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <ExtsnRequestIncomeTaxPaidAmt>0</ExtsnRequestIncomeTaxPaidAmt>
        <BackupWithholdingWithheldAmt>0</BackupWithholdingWithheldAmt>
        <TotalPaymentsAndCreditsAmt>48000</TotalPaymentsAndCreditsAmt>
        <Form2220AttachedInd referenceDocumentId="RetDoc1192000001">X</Form2220AttachedInd>
        <EsPenaltyAmt>0</EsPenaltyAmt>
        <TaxDueAmt>1605</TaxDueAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>0</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>0</MoreThan100SpentInd>
        <Form1120POLFiledInd>0</Form1120POLFiledInd>
        <Section4955OrganizationTaxAmt>0</Section4955OrganizationTaxAmt>
        <Section4955ManagersTaxAmt>0</Section4955ManagersTaxAmt>
        <TaxReimbursedAmt>0</TaxReimbursedAmt>
        <ActivitiesNotPreviouslyRptInd>0</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>0</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>0</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>0</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>1</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>1</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>IA</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>JENNIFER NGUYEN</IndividualWithBooksNm>
        <PhoneNum>3195412974</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>PO BOX 5053</AddressLine1Txt>
          <CityNm>CORALVILLE</CityNm>
          <StateAbbreviationCd>IA</StateAbbreviationCd>
          <ZIPCd>52241</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>0</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>0</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>0</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>0</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>0</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>0</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>0</PaymentToGovernmentOfficialInd>
        <UncorrectedPriorActsInd>0</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>0</UndistributedIncomePYInd>
        <BusinessHoldingsInd>0</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>0</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>0</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>0</InfluenceLegislationInd>
        <InfluenceElectionInd>0</InfluenceElectionInd>
        <GrantsToIndividualsInd>0</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>0</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>0</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ANN S GERDIN</PersonNm>
          <USAddress>
            <AddressLine1Txt>901 HEARTLAND WAY</AddressLine1Txt>
            <CityNm>NORTH LIBERTY</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>52317</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT/SEC/TREAS</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MICHAEL J GERDIN</PersonNm>
          <USAddress>
            <AddressLine1Txt>901 HEARTLAND WAY</AddressLine1Txt>
            <CityNm>NORTH LIBERTY</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>52317</ZIPCd>
          </USAddress>
          <TitleTxt>VICE PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JULIE J DURR</PersonNm>
          <USAddress>
            <AddressLine1Txt>901 HEARTLAND WAY</AddressLine1Txt>
            <CityNm>NORTH LIBERTY</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>52317</ZIPCd>
          </USAddress>
          <TitleTxt>VICE PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ANGELA K JANSSEN</PersonNm>
          <USAddress>
            <AddressLine1Txt>901 HEARTLAND WAY</AddressLine1Txt>
            <CityNm>NORTH LIBERTY</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>52317</ZIPCd>
          </USAddress>
          <TitleTxt>VICE PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>CHARLES SCHWAB &amp; CO INC</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>211 MAIN STREET</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94105</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>INVESTMENT MANAGEMENT</ServiceTypeTxt>
          <CompensationAmt>144106</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>120640599</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>11679229</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>132319828</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>132319828</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>1984797</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>130335031</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>6516752</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>6516752</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>49605</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>49605</TotalTaxAmt>
        <DistributableBeforeAdjAmt>6467147</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>6467147</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>6467147</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>5183909</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>5183909</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>6467147</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>5118370</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <TotalExcessDistributionCyovAmt>0</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>5183909</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>5118370</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>65539</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>0</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>0</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>6401608</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>0</ExcessDistriCyovToNextYrAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CEDAR SUMMERSTOCK THEATRE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>346 W 4TH ST</AddressLine1Txt>
            <CityNm>SAINT ANSGAR</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>504721313</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING FUND</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FAITH BAPTIST BIBLE COLLEGE &amp; THEOLOGICAL SEMINARY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1900 NW FOURTH STREET</AddressLine1Txt>
            <CityNm>ANKENY</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50023</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING FUND</GrantOrContributionPurposeTxt>
          <Amt>100000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FRED HUTCHINSON CANCER CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1100 FAIRVIEW AVE N</AddressLine1Txt>
            <CityNm>SEATTLE</CityNm>
            <StateAbbreviationCd>WA</StateAbbreviationCd>
            <ZIPCd>98109</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>NAIVE T CELL DEPLETION RESEARCH</GrantOrContributionPurposeTxt>
          <Amt>550000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>IOWA DONOR NETWORK</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>550 N MADISON AVE</AddressLine1Txt>
            <CityNm>NORTH LIBERTY</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>523178401</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>IN SUPPORT OF THE DONATE LIFE ROSE PARADE</GrantOrContributionPurposeTxt>
          <Amt>120000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>LUTHER COLLEGE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>700 COLLEGE DRIVE</AddressLine1Txt>
            <CityNm>DECORAH</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>52101</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>REGENTS CENTER RENOVATION PROJECT</GrantOrContributionPurposeTxt>
          <Amt>3000000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MAKE-A-WISH FOUNDATION OF IOWA INC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3009 100TH STREET</AddressLine1Txt>
            <CityNm>URBANDALE</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50322</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>"DREAMS COME TRUE FUND" SUPPORT - GRANTING 50 WISHES</GrantOrContributionPurposeTxt>
          <Amt>700000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MAKE-A-WISH FOUNDATION OF IOWA INC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3009 100TH STREET</AddressLine1Txt>
            <CityNm>URBANDALE</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50322</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>"DREAMS COME TRUE FUND" SUPPORT - GRANTING 50 WISHES</GrantOrContributionPurposeTxt>
          <Amt>700000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>5172500</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>229156</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>2680571</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>989132</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>3898859</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>3898859</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>0</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>0</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>0</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>0</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>0</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>0</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>0</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>0</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>0</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>0</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>11281</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>11281</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>ALLSTATE CORP</StockNm>
        <EOYBookValueAmt>140200</EOYBookValueAmt>
        <EOYFMVAmt>1082900</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ALTRIA GROUP INC</StockNm>
        <EOYBookValueAmt>212173</EOYBookValueAmt>
        <EOYFMVAmt>400960</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AMERICAN ELECTRIC POWER</StockNm>
        <EOYBookValueAmt>190362</EOYBookValueAmt>
        <EOYFMVAmt>454140</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ASSOCIATED BANC CORP</StockNm>
        <EOYBookValueAmt>67861</EOYBookValueAmt>
        <EOYFMVAmt>153007</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AVERY DENNISON CORP</StockNm>
        <EOYBookValueAmt>136323</EOYBookValueAmt>
        <EOYFMVAmt>926293</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BANK HAWAII CORP</StockNm>
        <EOYBookValueAmt>155094</EOYBookValueAmt>
        <EOYFMVAmt>289162</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BANK OF AMERICA CORP</StockNm>
        <EOYBookValueAmt>47812</EOYBookValueAmt>
        <EOYFMVAmt>339470</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BERKSHIRE HATHAWAY</StockNm>
        <EOYBookValueAmt>1237113</EOYBookValueAmt>
        <EOYFMVAmt>7501783</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BLACK HILLS CORP</StockNm>
        <EOYBookValueAmt>162099</EOYBookValueAmt>
        <EOYFMVAmt>294414</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>BRISTOL MYERS SQUIBB CO</StockNm>
        <EOYBookValueAmt>168753</EOYBookValueAmt>
        <EOYFMVAmt>294225</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CADENCE BANK</StockNm>
        <EOYBookValueAmt>42446</EOYBookValueAmt>
        <EOYFMVAmt>141831</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CHEVRON CORPORATION</StockNm>
        <EOYBookValueAmt>295784</EOYBookValueAmt>
        <EOYFMVAmt>426409</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CINCINNATI FINANCIAL CORP</StockNm>
        <EOYBookValueAmt>130221</EOYBookValueAmt>
        <EOYFMVAmt>701112</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>COMERICA INC</StockNm>
        <EOYBookValueAmt>192142</EOYBookValueAmt>
        <EOYFMVAmt>463133</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CORTEVA INC</StockNm>
        <EOYBookValueAmt>36878</EOYBookValueAmt>
        <EOYFMVAmt>147185</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>DELUXE CORP</StockNm>
        <EOYBookValueAmt>198605</EOYBookValueAmt>
        <EOYFMVAmt>195065</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>DUPONT DE NEMOURS INC</StockNm>
        <EOYBookValueAmt>105685</EOYBookValueAmt>
        <EOYFMVAmt>197030</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>DOW CHEMICAL CO.</StockNm>
        <EOYBookValueAmt>72011</EOYBookValueAmt>
        <EOYFMVAmt>103696</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>DT MIDSTREAM INC</StockNm>
        <EOYBookValueAmt>43172</EOYBookValueAmt>
        <EOYFMVAmt>275521</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>DTE ENERGY CO</StockNm>
        <EOYBookValueAmt>95251</EOYBookValueAmt>
        <EOYFMVAmt>268790</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>EASTMAN CHEMICAL CO</StockNm>
        <EOYBookValueAmt>209587</EOYBookValueAmt>
        <EOYFMVAmt>501164</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ELI LILLY &amp; CO</StockNm>
        <EOYBookValueAmt>181839</EOYBookValueAmt>
        <EOYFMVAmt>3666228</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ENTERGY CORP NEW</StockNm>
        <EOYBookValueAmt>171801</EOYBookValueAmt>
        <EOYFMVAmt>507539</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>FIFTH THIRD BANCORP</StockNm>
        <EOYBookValueAmt>70172</EOYBookValueAmt>
        <EOYFMVAmt>261629</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>FIRST HORIZON NATL CORP</StockNm>
        <EOYBookValueAmt>67404</EOYBookValueAmt>
        <EOYFMVAmt>206939</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>FUNDAMENTAL INVESTORS INC CLASS A</StockNm>
        <EOYBookValueAmt>3626890</EOYBookValueAmt>
        <EOYFMVAmt>7235437</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>GALLAGHER ARTHUR J &amp; CO</StockNm>
        <EOYBookValueAmt>138667</EOYBookValueAmt>
        <EOYFMVAmt>1418398</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>GENERAL MILLS INC</StockNm>
        <EOYBookValueAmt>202901</EOYBookValueAmt>
        <EOYFMVAmt>326247</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>GENUINE PARTS CO</StockNm>
        <EOYBookValueAmt>202802</EOYBookValueAmt>
        <EOYFMVAmt>427575</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>HEARTLAND EXPRESS INC</StockNm>
        <EOYBookValueAmt>18366937</EOYBookValueAmt>
        <EOYFMVAmt>14025000</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>HOME DEPOT</StockNm>
        <EOYBookValueAmt>123446</EOYBookValueAmt>
        <EOYFMVAmt>1370023</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>HUBBELL INC.</StockNm>
        <EOYBookValueAmt>241663</EOYBookValueAmt>
        <EOYFMVAmt>1812537</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>HUNTINGTON BANCSHARES INC</StockNm>
        <EOYBookValueAmt>227606</EOYBookValueAmt>
        <EOYFMVAmt>524106</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>INTERNATIONAL PAPER</StockNm>
        <EOYBookValueAmt>183423</EOYBookValueAmt>
        <EOYFMVAmt>406610</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>JPMORGAN CHASE &amp; CO</StockNm>
        <EOYBookValueAmt>145674</EOYBookValueAmt>
        <EOYFMVAmt>1094995</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>KEMPER CORP</StockNm>
        <EOYBookValueAmt>133746</EOYBookValueAmt>
        <EOYFMVAmt>348611</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>KEYCORP NEW</StockNm>
        <EOYBookValueAmt>94310</EOYBookValueAmt>
        <EOYFMVAmt>216015</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>KIMBERLY CLARK CORP</StockNm>
        <EOYBookValueAmt>279640</EOYBookValueAmt>
        <EOYFMVAmt>531367</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LAMAR ADVERTISING</StockNm>
        <EOYBookValueAmt>628973</EOYBookValueAmt>
        <EOYFMVAmt>4918296</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LEGGETT &amp; PLATT INC</StockNm>
        <EOYBookValueAmt>138040</EOYBookValueAmt>
        <EOYFMVAmt>60154</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LINCOLN NATIONAL CORP-IND</StockNm>
        <EOYBookValueAmt>163835</EOYBookValueAmt>
        <EOYFMVAmt>288783</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>M&amp;T BANK CORP</StockNm>
        <EOYBookValueAmt>90258</EOYBookValueAmt>
        <EOYFMVAmt>224108</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MASCO CORP</StockNm>
        <EOYBookValueAmt>65543</EOYBookValueAmt>
        <EOYFMVAmt>630198</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MERCK &amp; CO INC</StockNm>
        <EOYBookValueAmt>162468</EOYBookValueAmt>
        <EOYFMVAmt>514610</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MONDELEZ INTERNATIONAL</StockNm>
        <EOYBookValueAmt>86954</EOYBookValueAmt>
        <EOYFMVAmt>232529</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>NISOURCE INC</StockNm>
        <EOYBookValueAmt>57010</EOYBookValueAmt>
        <EOYFMVAmt>267650</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>OGE ENERGY CORP</StockNm>
        <EOYBookValueAmt>133982</EOYBookValueAmt>
        <EOYFMVAmt>221513</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>OLD NATIONAL BANCORP</StockNm>
        <EOYBookValueAmt>41798</EOYBookValueAmt>
        <EOYFMVAmt>119030</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ONEOK INC NEW</StockNm>
        <EOYBookValueAmt>173689</EOYBookValueAmt>
        <EOYFMVAmt>1039140</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ORGANON &amp; CO</StockNm>
        <EOYBookValueAmt>8133</EOYBookValueAmt>
        <EOYFMVAmt>7714</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PFIZER INC</StockNm>
        <EOYBookValueAmt>125502</EOYBookValueAmt>
        <EOYFMVAmt>184516</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PINNACLE WEST CAPITAL CORP</StockNm>
        <EOYBookValueAmt>282608</EOYBookValueAmt>
        <EOYFMVAmt>536425</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PNC FINANCIAL SVCS GROUP INC</StockNm>
        <EOYBookValueAmt>260507</EOYBookValueAmt>
        <EOYFMVAmt>981992</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PPG INDUSTRIES INC</StockNm>
        <EOYBookValueAmt>178431</EOYBookValueAmt>
        <EOYFMVAmt>534778</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>REGIONS FINANCIAL CORP</StockNm>
        <EOYBookValueAmt>35594</EOYBookValueAmt>
        <EOYFMVAmt>226262</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>RPM INTERNATIONAL INC</StockNm>
        <EOYBookValueAmt>119956</EOYBookValueAmt>
        <EOYFMVAmt>694674</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SENSIENT TECHNOLOGIES CORP</StockNm>
        <EOYBookValueAmt>108477</EOYBookValueAmt>
        <EOYFMVAmt>215562</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SMURFIT WESTROCK PLC</StockNm>
        <EOYBookValueAmt>275464</EOYBookValueAmt>
        <EOYFMVAmt>320790</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SONOCO PRODUCTS CO</StockNm>
        <EOYBookValueAmt>125746</EOYBookValueAmt>
        <EOYFMVAmt>199308</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>STEEL DYNAMICS</StockNm>
        <EOYBookValueAmt>38154</EOYBookValueAmt>
        <EOYFMVAmt>381108</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SYLVAMO CORPORATION</StockNm>
        <EOYBookValueAmt>10319</EOYBookValueAmt>
        <EOYFMVAmt>54208</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>TEXTRON</StockNm>
        <EOYBookValueAmt>106512</EOYBookValueAmt>
        <EOYFMVAmt>439435</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>TJX COMPANIES</StockNm>
        <EOYBookValueAmt>776387</EOYBookValueAmt>
        <EOYFMVAmt>6501149</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>TRUIST FINANCIAL CORPORATION</StockNm>
        <EOYBookValueAmt>276219</EOYBookValueAmt>
        <EOYFMVAmt>671219</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>TRUSTMARK CORP</StockNm>
        <EOYBookValueAmt>94657</EOYBookValueAmt>
        <EOYFMVAmt>161040</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>UNITED BANKSHARES INC-W VA</StockNm>
        <EOYBookValueAmt>76350</EOYBookValueAmt>
        <EOYFMVAmt>129961</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>UNIVERSAL CORP-VA</StockNm>
        <EOYBookValueAmt>201298</EOYBookValueAmt>
        <EOYFMVAmt>278697</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>US BANCORP DEL</StockNm>
        <EOYBookValueAmt>152053</EOYBookValueAmt>
        <EOYFMVAmt>294441</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>VIATRIS INC</StockNm>
        <EOYBookValueAmt>6914</EOYBookValueAmt>
        <EOYFMVAmt>10732</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WARNER BROS DISCOVERY INC</StockNm>
        <EOYBookValueAmt>35836</EOYBookValueAmt>
        <EOYFMVAmt>13170</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WASHINGTON FEDERAL INC</StockNm>
        <EOYBookValueAmt>68377</EOYBookValueAmt>
        <EOYFMVAmt>161264</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WASTE MANAGEMENT INC DEL</StockNm>
        <EOYBookValueAmt>108603</EOYBookValueAmt>
        <EOYFMVAmt>665705</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WATSCO INC</StockNm>
        <EOYBookValueAmt>267469</EOYBookValueAmt>
        <EOYFMVAmt>2165203</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WEBSTER FINANCIAL CORP</StockNm>
        <EOYBookValueAmt>43103</EOYBookValueAmt>
        <EOYFMVAmt>132970</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>WELLS FARGO &amp; CO</StockNm>
        <EOYBookValueAmt>126016</EOYBookValueAmt>
        <EOYFMVAmt>331884</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>ZIONS BANCORPORATION</StockNm>
        <EOYBookValueAmt>71435</EOYBookValueAmt>
        <EOYFMVAmt>231919</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsGovtObligationsSch documentId="RetDoc2210400001">
      <USGovtObligationsBookVlEOYAmt>3927059</USGovtObligationsBookVlEOYAmt>
      <USGovtObligationsEOYFMVAmt>3901427</USGovtObligationsEOYFMVAmt>
      <StateLocalSecBookVlEOYAmt>0</StateLocalSecBookVlEOYAmt>
      <StateLocalSecEOYFMVAmt>0</StateLocalSecEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CAPITAL INCOME BUILDER</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>2175127</BookValueAmt>
        <EOYFMVAmt>2901177</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>DIMENSIONAL EMERGING MARKETS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>660291</BookValueAmt>
        <EOYFMVAmt>734885</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>DIMENSIONAL INTERNATIONAL SMALL CO</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>364064</BookValueAmt>
        <EOYFMVAmt>468047</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>DIMENSIONAL LARGE CAP INTERNATIONAL</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>787476</BookValueAmt>
        <EOYFMVAmt>1185872</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>DIMENSIONAL LARGE CAP VALUE III</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>2508505</BookValueAmt>
        <EOYFMVAmt>5604132</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>DIMENSIONAL US LARGE CO INSTL INDEX</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>5793370</BookValueAmt>
        <EOYFMVAmt>23359203</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>DIMENSIONAL US MICRO CAP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>2558546</BookValueAmt>
        <EOYFMVAmt>5812873</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>DIMENSIONAL US SMALL CAP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>357700</BookValueAmt>
        <EOYFMVAmt>890771</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INCOME FUND OF AMERICA</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>2883116</BookValueAmt>
        <EOYFMVAmt>4049512</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LegalFeesSchedule documentId="RetDoc2002100001">
      <LegalFeesGrp>
        <CategoryTxt>LEGAL FEES</CategoryTxt>
        <LegalFeesAmt>128</LegalFeesAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>128</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherDecreasesSchedule documentId="RetDoc2049800001">
      <OtherDecreasesDetail>
        <Desc>RETURN OF CAPITAL BASIS ADJUSTMENT</Desc>
        <Amt>3164</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT FEES</CategoryTxt>
        <Amt>144307</Amt>
        <NetInvestmentIncomeAmt>144307</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>EXCISE TAXES</CategoryTxt>
        <Amt>58641</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN INCOME TAXES</CategoryTxt>
        <Amt>6037</Amt>
        <NetInvestmentIncomeAmt>6037</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>