| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 350 | 175 | 175 | |
| TAX PREPARATION | 2,300 | 1,150 | 1,150 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AMERICAN CENT INTL BOND FUND | 34,345 | 33,340 |
| ARTIO INTERNATIONAL EQUITY FUND | 44,340 | 24,955 |
| BUFFALO MID CAP FUND | 51,380 | 55,083 |
| BUFFALO SMALL CAP FUND | 15,309 | 15,386 |
| CHAMPLAIN SMALL CO FD-ADV | 24,480 | 28,861 |
| COHEN & STEERS REALTY SHARES # 1262 | 45,120 | 41,145 |
| DIAMOND HILL LARGE CAP FUND CL | 79,880 | 88,250 |
| DODGE & COX STOCK FUND | 117,620 | 96,964 |
| FMI COMMON STOCK FUND | 25,580 | 25,626 |
| ETFS PLATINUM TRUST | 14,216 | 12,620 |
| ETFS PALLADIUM TRUST | 12,039 | 9,351 |
| GENERAL ELECTRIC | 50,253 | 52,201 |
| HARBOR BOND INST # 14 | 203,321 | 199,798 |
| HARBOR MID CAP VALUE FUND # 023 | 56,880 | 56,685 |
| OAKMARK INTERNATIONAL FUND (HARRIS) # 109 | 39,633 | 42,455 |
| I SHARES SILVER TRUST | 12,169 | 10,304 |
| JENSEN PORTFOLIO CL I | 63,880 | 68,454 |
| JOHNSON & JOHNSON | 52,732 | 51,495 |
| MANNING & NAPIER WORLD OPPORTUNITIES FUND | 33,397 | 34,818 |
| MARSICO FOCUS FUND # 40 | 86,920 | 86,278 |
| MERIDIAN GROWTH FUND # 75 | 73,466 | 86,625 |
| PIMCO FOREIGN BOND FUND # 103 | 14,673 | 15,152 |
| ROYCE PREMIER FUND (INV CL) #265 | 33,791 | 36,241 |
| RS VALUE FUND | 84,988 | 77,380 |
| T ROWE PRICE INSTITUTIONAL FLOATING RATE | 50,040 | 48,202 |
| SPDR GOLD TRUST | 9,565 | 11,058 |
| THIRD AVENUE INTERNATIONAL VALUE FUND | 30,858 | 27,610 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| BP PRUHOE BAY ROYALTY TRUST | AT COST | 23,374 | 23,742 |
| CROSS TIMBERS ROYALTY TRUST UNITS | AT COST | 3,600 | 3,895 |
| DOMINION RESOURCES BLACK WARRIOR ROYALTY TRUST | AT COST | 1,763 | 1,424 |
| DORCHESTER MINERALS LP | AT COST | 3,653 | 2,895 |
| ECA MARCELLUS TRUST I | AT COST | 3,724 | 3,773 |
| HUGOTON ROYALTY TRUST TEXAS UNIT BEN INT | AT COST | 10,644 | 9,965 |
| MV OIL TRUST | AT COST | 3,818 | 3,511 |
| PERMIAN BASIN ROYALTY TRUST | AT COST | 17,168 | 16,953 |
| SABINE ROYALTY TRUST-SBI | AT COST | 3,194 | 3,175 |
| SAN JUAN BASIN ROYALTY TR-UBI | AT COST | 9,444 | 9,724 |
| WHITING USA TRUST I | AT COST | 8,404 | 8,477 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEES | 5,270 | 2,635 | 2,635 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT MANAGEMENT FEES | 14,716 | 14,716 | 0 |