TY 2013 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter Social Security numbers on this form as it may be made public. By law, the IRS cannot redact the information on the form.
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Information about Form 990-PF and its instructions is at www.irs.gov/form990pf.

OMB No. 1545-0052

2013

Open to Public Inspection

For calendar year 2013, or tax year beginning 01-01-2013 , and ending 12-31-2013

Name of foundation
KATE L DUNWOODY TR UW 35007750

Number and street (or P.O. box number if mail is not delivered to street address)P O BOX 64713 TRUST TAX SERVICES Room/suite

City or town, state or province, country, and ZIP or foreign postal code
ST PAUL, MN551640713

A Employer identification number

41-6014903

B Telephone number (see instructions)

(612) 303-3205

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address changeName change

D 1. Foreign organizations, check here ............. bullet

2. Foreign organizations meeting the 85% test,
check here and attach computation ........... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ......... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trustOther taxable private foundation

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$10,073,516J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ......... bullet

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check
3	Interest on savings and temporary cash investments	23		23
4	Dividends and interest from securities......	245,767		245,767
5a	Gross rents..............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		363,919
b	Gross sales price for all assets on line 6a 3,804,275
7	Capital gain net income (from Part IV, line 2)...			363,919
8	Net short-term capital gain.........				0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......		4,568
12	Total. Add lines 1 through 11........	614,277		609,709
13	Compensation of officers, directors, trustees, etc.	64,084		50,817		13,267
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........		5,438	2,719	0	2,719
b	Accounting fees (attach schedule).......
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)		20,323	7,311		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......		1,503	1,411		82
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	91,348		62,258	0	16,068
25	Contributions, gifts, grants paid........	442,741				442,741
26	Total expenses and disbursements. Add lines 24 and 25	534,089		62,258	0	458,809
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	80,188
b	Net investment income (if negative, enter -0-)			547,451
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2013)

Form 990-PF (2013)

Page 2

Part II		Balance Sheets	Attached schedules and amounts in the description column should be for end-of-year amounts only. (See instructions.)	Beginning of year	End of year
Part II		Balance Sheets		(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing...............
	2	Savings and temporary cash investments..........		202,210	583,715	583,715
	3	Accounts receivable
		Less: allowance for doubtful accounts			0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use...............
	9	Prepaid expenses and deferred charges...........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule)........		5,660,876	5,837,899	7,129,714
	c	Investments—corporate bonds (attach schedule)........		2,850,532	2,377,235	2,352,996
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans..............
	13	Investments—other (attach schedule)...........		1	1	1
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )		10,690	7,090	7,090
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)		8,724,309	8,805,940	10,073,516
		17	Accounts payable and accrued expenses..........
18		Grants payable...................
19		Deferred revenue..................
20		Loans from officers, directors, trustees, and other disqualified persons
21		Mortgages and other notes payable (attach schedule)......
22		Other liabilities (describe )		1,869	3,320
23		Total liabilities (add lines 17 through 22)..........		1,869	3,320
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted....................
	25	Temporarily restricted................
	26	Permanently restricted................
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds.........		2,739,098	2,739,098
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds		5,983,342	6,063,522
	30	Total net assets or fund balances (see page 17 of the
		instructions)....................		8,722,440	8,802,620
	31	Total liabilities and net assets/fund balances (see page 17 of
		the instructions)..................		8,724,309	8,805,940

Part III	Analysis of Changes in Net Assets or Fund Balances
1	Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree
	with end-of-year figure reported on prior year’s return)...............	1	8,722,440
2	Enter amount from Part I, line 27a.....................	2	80,188
3	Other increases not included in line 2 (itemize)	3	0
4	Add lines 1, 2, and 3..........................	4	8,802,628
5	Decreases not included in line 2 (itemize)	5	8
6	Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30.	6	8,802,620

Form 990-PF (2013)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	1128. QIAGEN NV		2011-08-16	2013-01-10
b	100. QIAGEN NV		2012-10-05	2013-01-10
c	345. ABBOTT LABS		2011-08-16	2013-01-15
d	116. ABBOTT LABS		2012-05-11	2013-01-15
e	194. YUM BRANDS INC		2012-07-31	2013-01-16
	348. EQUITABLE CORP		2011-08-16	2013-01-23
	143. EQUITABLE CORP		2012-02-09	2013-01-23
	80. ALLERGAN INC		2011-08-16	2013-01-29
	121. SCHLUMBERGER LTD		2011-08-16	2013-02-05
	598. LI FUNG LTD A D R		2012-10-05	2013-02-11
	578. LI FUNG LTD A D R		2012-02-09	2013-02-12
	873. LI FUNG LTD A D R		2012-10-05	2013-02-12
	595. THE GAP INC		2012-03-28	2013-02-13
	1161. LI FUNG LTD A D R		2012-02-09	2013-02-13
	11027. LI FUNG LTD A D R		2012-02-09	2013-02-14
	124. SCHLUMBERGER LTD		2011-08-16	2013-02-15
	252. ARM HLDGS PLC A D R		2011-08-16	2013-02-22
	195. NEW YORK COMMUNITY BANCORP INC		2012-05-18	2013-03-06
	1725. NEW YORK COMMUNITY BANCORP INC		2011-09-13	2013-03-06
	446. SWATCH GROUP AG A D R		2011-08-16	2013-03-11
	330. AIA GROUP LTD ADR		2012-02-14	2013-03-18
	8. AIR LIQUIDE S A A D R		2011-08-16	2013-03-18
	266. AIR LIQUIDE S A A D R		2012-10-05	2013-03-18
	452. ALLIANZ SE A D R		2011-08-16	2013-03-18
	1209. AMERICA MOVIL A D R		2011-08-16	2013-03-18
	149. AMERICA MOVIL A D R		2012-10-05	2013-03-18
	41. ANHEUSER BUSCH INBEV NV A D R		2012-10-05	2013-03-18
	134. ARM HLDGS PLC A D R		2011-08-16	2013-03-18
	119. ATLAS COPCO AB SPONS A D R		2011-08-16	2013-03-18
	133. B G GROUP P L C A D R		2012-10-05	2013-03-18
	235. BANCO BILBAO VIZCAYA ARGEN A D R		2013-02-22	2013-03-18
	69. BAYERISCHE MOTOREN WERKE UNSPN A D R		2013-02-13	2013-03-18
	117. CSL LIMITED A D R		2011-08-16	2013-03-18
	32. CANADIAN NATL RY CO		2011-08-16	2013-03-18
	62. COCHLEAR LTD UNSPON A D R		2011-08-16	2013-03-18
	59. DBS GROUP HLDGS LTD		2011-08-16	2013-03-18
	44. DASSAULT SYSTEMES SA A D R		2011-08-16	2013-03-18
	170. FANUC CORPORATION A D R		2012-10-05	2013-03-18
	114. FRESENIUS MED AKTIENGESELLSCHAFT ADR		2012-10-05	2013-03-18
	237. OAO GAZPROM SPON A D R		2013-02-05	2013-03-18
	34. HSBC HOLDINGS PLC SPONS A D R		2011-08-16	2013-03-18
	78. I C I C I BANK LIMITED A D R		2011-08-16	2013-03-18
	58. IMPERIAL OIL LTD		2012-10-05	2013-03-18
	254. ITAU UNIBANCO HOLDINGS SA A D R		2011-08-16	2013-03-18
	35. JGC CORP UNSPONSORED A D R		2012-10-05	2013-03-18
	141. LOREAL UNSPONSORED A D R		2011-08-16	2013-03-18
	66. LVMH MOET HENNESSY LOU VUITT A D R		2011-08-16	2013-03-18
	534. LONZA GROUP AG UNSPON A D R		2011-08-16	2013-03-18
	98. MTN GROUP LTD A D R		2011-08-16	2013-03-18
	103. NESTLE SA SPONSORED A D R		2011-08-16	2013-03-18
	115. NOKIAN TYRES OYJ UNSPON A D R		2012-03-13	2013-03-18
	4436.557 NUVEEN REAL ESTATE SECS I		2011-08-15	2013-03-18
	99. PETROLEO BRASILEIRO S A A D R		2012-10-05	2013-03-18
	76. POTASH CORP OF SASKATCHEWAN		2012-09-26	2013-03-18
	89. ROCHE HLDG LTD A D R		2011-08-16	2013-03-18
	88. SAP AG A D R		2011-08-16	2013-03-18
	28. SASOL LTD SPONSORED A D R		2011-08-16	2013-03-18
	43. SCHLUMBERGER LTD		2011-08-16	2013-03-18
	285. SCHNEIDER ELECT SA UNSP A D R		2011-08-16	2013-03-18
	145. SONOVA HOLDING UNSPON ADR		2011-08-16	2013-03-18
	92. SVENSKA HANDELSBANKEN A UNSP A D R		2012-10-05	2013-03-18
	99. SWATCH GROUP AG A D R		2011-08-16	2013-03-18
	89. SYSMEX CORP UNSPON A D R		2012-10-05	2013-03-18
	192. TAIWAN SEMICONDUCTOR A D R		2011-08-16	2013-03-18
	119. TESCO PLC A D R		2011-11-07	2013-03-18
	885. TURKIYE GARANTI BANKASI A S A D R		2011-08-16	2013-03-18
	340. UNI CHARM CORPORATION A D R		2012-10-05	2013-03-18
	51. UNILEVER PLC SPSD ADR		2011-08-16	2013-03-18
	55. WPP PLC SPONSORED A D R		2011-08-16	2013-03-18
	109. XINYI GLASS HOLDINGS LTS A D R		2012-07-09	2013-03-18
	49. BUNGE LIMITED		2011-08-16	2013-03-18
	42. DIAGEO PLC SPONSORED A D R		2012-03-01	2013-03-20
	146. VMWARE INC CL A		2012-05-03	2013-03-27
	114. ABBVIE INC		2011-08-16	2013-04-04
	20. BLACKROCK INC		2011-08-16	2013-04-04
	356. PACCAR INC		2011-10-12	2013-04-04
	124. PACCAR INC		2012-10-25	2013-04-04
	268. DIRECTV		2011-08-16	2013-04-08
	319. EMERSON ELEC CO		2011-08-16	2013-04-22
	90. EMERSON ELEC CO		2012-05-24	2013-04-22
	747. MICROCHIP TECHNOLOGY INC		2011-08-16	2013-05-06
	62. INTERNATIONAL BUSINESS MACHS CORP		2011-08-16	2013-05-09
	416. SONOVA HOLDING UNSPON ADR		2011-08-16	2013-05-13
	173. AIA GROUP LTD ADR		2012-04-03	2013-05-14
	243. ATT INC		2011-08-16	2013-05-14
	234. ABBVIE INC		2012-05-11	2013-05-14
	219. AIR LIQUIDE S A A D R		2011-08-16	2013-05-14
	188. ALLIANZ SE A D R		2011-08-16	2013-05-14
	3. AMAZON COM INC		2011-08-16	2013-05-14
	27. AMERIPRISE FINL INC		2011-08-16	2013-05-14
	39. ANADARKO PETROLEUM CORP		2011-08-16	2013-05-14
	35. ANALOG DEVICES INC		2012-12-04	2013-05-14
	35. ANHEUSER BUSCH INBEV NV A D R		2012-05-04	2013-05-14
	4. APPLE INC		2012-10-25	2013-05-14
	12. APPLE INC		2012-04-11	2013-05-14
	13. APPLE INC		2012-10-26	2013-05-14
	6. APPLE INC		2011-08-16	2013-05-14
	74. ARM HLDGS PLC A D R		2012-09-26	2013-05-14
	133. ARM HLDGS PLC A D R		2011-08-16	2013-05-14
	95. ATLAS COPCO AB SPONS A D R		2011-08-16	2013-05-14
	39. B G GROUP P L C A D R		2011-08-16	2013-05-14
	85. B G GROUP P L C A D R		2012-10-05	2013-05-14
	196. BANCO BILBAO VIZCAYA ARGEN A D R		2013-02-22	2013-05-14
	44. BAYERISCHE MOTOREN WERKE UNSPN A D R		2013-02-13	2013-05-14
	23. BLACKROCK INC		2011-08-16	2013-05-14
	9. BLACKROCK INC		2013-01-29	2013-05-14
	50. BORG WARNER INC		2011-08-16	2013-05-14
	81. BROADCOM CORP CL A		2011-10-19	2013-05-14
	77. CSL LIMITED A D R		2011-08-16	2013-05-14
	168. CVS CAREMARK CORP		2013-01-23	2013-05-14
	37. CAMERON INTERNATIONAL CORP		2011-08-16	2013-05-14
	32. CANADIAN NATL RY CO		2011-08-16	2013-05-14
	56. CATERPILLAR INC		2011-08-16	2013-05-14
	13. CHEVRON CORPORATION		2011-08-17	2013-05-14
	74. CHEVRON CORPORATION		2011-08-16	2013-05-14
	241. COCA COLA COMPANY		2012-03-23	2013-05-14
	53. COCHLEAR LTD UNSPON A D R		2011-08-16	2013-05-14
	107. CULLEN FROST BANKERS INC		2011-08-16	2013-05-14
	37. DBS GROUP HLDGS LTD		2011-08-16	2013-05-14
	7. DANAHER CORP		2011-08-16	2013-05-14
	50. DASSAULT SYSTEMES SA A D R		2011-08-16	2013-05-14
	36. DEERE & CO		2011-12-21	2013-05-14
	2. DIAGEO PLC SPONSORED A D R		2012-03-01	2013-05-14
	16. DISNEY WALT CO		2011-08-16	2013-05-14
	24. DOLLAR GENERAL CORP		2012-08-14	2013-05-14
	60. E M C CORPORATION		2012-11-06	2013-05-14
	38. E BAY INC		2011-08-16	2013-05-14
	8. EQUINIX INC		2011-10-19	2013-05-14
	41. EXPRESS SCRIPTS HLDGS C		2011-08-16	2013-05-14
	33. FANUC CORPORATION A D R		2012-10-05	2013-05-14
	138. FANUC CORPORATION A D R		2011-08-16	2013-05-14
	172. FIDELITY NATL INFORMATION SVCS INC		2012-03-16	2013-05-14
	32. FLUOR CORP		2011-08-16	2013-05-14
	16. FLOWSERVE CORP		2011-08-16	2013-05-14
	36. FRESENIUS MED AKTIENGESELLSCHAFT ADR		2012-10-05	2013-05-14
	81. FRESENIUS MED AKTIENGESELLSCHAFT ADR		2011-08-16	2013-05-14
	130. OAO GAZPROM SPON A D R		2013-02-05	2013-05-14
	6. GOLDMAN SACHS GROUP INC		2013-01-29	2013-05-14
	2. GOOGLE INC CL A		2011-08-16	2013-05-14
	36. HSBC HOLDINGS PLC SPONS A D R		2011-08-16	2013-05-14
	6404.782 HIGHLAND LONG SHORT EQUITY Z		2011-08-15	2013-05-14
	91. I C I C I BANK LIMITED A D R		2011-08-16	2013-05-14
	13. IMPERIAL OIL LTD		2012-10-05	2013-05-14
	42. IMPERIAL OIL LTD		2011-08-16	2013-05-14
	6. INTERNATIONAL BUSINESS MACHS CORP		2011-08-16	2013-05-14
	41. INTERNATIONAL BUSINESS MACHS CORP		2011-08-16	2013-05-14
	129. ISHARES DOW JONES US REGIONAL ETF		2012-07-20	2013-05-14
	235. ITAU UNIBANCO HOLDINGS SA A D R		2011-08-16	2013-05-14
	59. ITC HOLDINGS CORP		2011-08-24	2013-05-14
	41. JGC CORP UNSPONSORED A D R		2012-12-06	2013-05-14
	195. J P MORGAN CHASE & CO		2011-08-16	2013-05-14
	178. KINDER MORGAN INC		2011-10-04	2013-05-14
	114. LOREAL UNSPONSORED A D R		2011-08-16	2013-05-14
	44. LVMH MOET HENNESSY LOU VUITT A D R		2011-08-16	2013-05-14
	351. LONZA GROUP AG UNSPON A D R		2011-08-16	2013-05-14
	212. LORILLARD INC		2011-08-16	2013-05-14
	228. LOWE'S COS INC		2012-10-05	2013-05-14
	14. LULULEMON ATHLETICA INC		2013-04-08	2013-05-14
	113. MCCORMICK CO NON VTG SHRS		2011-08-16	2013-05-14
	248. MICROSOFT CORP		2011-08-16	2013-05-14
	15. MONSANTO CO		2012-11-27	2013-05-14
	124. MOTOROLA SOLUTIONS INC		2011-12-08	2013-05-14
	60. MTN GROUP LTD A D R		2011-08-16	2013-05-14
	86. NESTLE SA SPONSORED A D R		2011-08-16	2013-05-14
	799.709 NEUBERGER BERMAN GENESIS INSTL FD		2011-08-15	2013-05-14
	117. NEXTERA ENERGY INC		2011-08-16	2013-05-14
	106. NOKIAN TYRES OYJ UNSPON A D R		2012-10-05	2013-05-14
	43. NOVO NORDISK AS A D R		2011-08-16	2013-05-14
	1643.385 NUVEEN REAL ESTATE SECS I		2011-08-15	2013-05-14
	45. OCWEN FINANCIAL CORPORATION		2013-02-13	2013-05-14
	150. ONEOK INC		2011-08-16	2013-05-14
	65. PETROLEO BRASILEIRO S A A D R		2012-10-05	2013-05-14
	373. PFIZER INC		2011-08-16	2013-05-14
	102. PHILIP MORRIS INTL		2011-08-16	2013-05-14
	93. PHILLIPS 66		2013-01-29	2013-05-14
	40. PIONEER NAT RES CO		2011-08-16	2013-05-14
	71. POTASH CORP OF SASKATCHEWAN		2012-09-26	2013-05-14
	9. PRECISION CASTPARTS CORP		2012-10-09	2013-05-14
	4. THE PRICELINE GROUP INC		2011-08-16	2013-05-14
	109. QUALCOMM INC		2011-08-16	2013-05-14
	13. QUALCOMM INC		2012-09-19	2013-05-14
	13. RALPH LAUREN CORP		2011-08-16	2013-05-14
	83. ROCHE HLDG LTD A D R		2011-08-16	2013-05-14
	21. ROCKWELL AUTOMATION INC		2012-03-01	2013-05-14
	109. ROYAL DUTCH SHELL PLC A D R		2011-08-16	2013-05-14
	82. SAP AG A D R		2012-05-04	2013-05-14
	34. SASOL LTD SPONSORED A D R		2011-08-16	2013-05-14
	10. SCHEIN HENRY INC		2011-08-16	2013-05-14
	45. SCHLUMBERGER LTD		2011-08-16	2013-05-14
	27. SCHLUMBERGER LTD		2011-08-16	2013-05-14
	234. SCHNEIDER ELECT SA UNSP A D R		2011-08-16	2013-05-14
	96. SONOVA HOLDING UNSPON ADR		2012-10-05	2013-05-14
	244. SOUTHERN COPPER CORP DEL		2011-08-16	2013-05-14
	21. STARBUCKS CORP		2013-04-08	2013-05-14
	78. SVENSKA HANDELSBANKEN A UNSP A D R		2012-10-05	2013-05-14
	61. SWATCH GROUP AG A D R		2011-08-16	2013-05-14
	116. SYSMEX CORP UNSPON A D R		2012-12-06	2013-05-14
	241. TAIWAN SEMICONDUCTOR A D R		2011-08-16	2013-05-14
	121. TESCO PLC A D R		2011-11-07	2013-05-14
	14. THERMO FISHER SCIENTIFIC INC		2011-08-16	2013-05-14
	79. TIME WARNER CABLE INC		2012-03-16	2013-05-14
	28. TRIMBLE NAV LTD		2013-02-13	2013-05-14
	481. TURKIYE GARANTI BANKASI A S A D R		2011-08-16	2013-05-14
	342. UNI CHARM CORPORATION A D R		2011-08-16	2013-05-14
	43. UNILEVER PLC SPSD ADR		2011-08-16	2013-05-14
	54. UNION PACIFIC CORP		2011-08-16	2013-05-14
	19. UNION PACIFIC CORP		2011-08-16	2013-05-14
	22. UNITED TECHNOLOGIES CORP		2012-01-11	2013-05-14
	40. URBAN OUTFITTERS INC		2012-10-26	2013-05-14
	51. V F CORP		2011-08-16	2013-05-14
	1. V F CORP		2012-09-19	2013-05-14
	8. VARIAN MED SYS INC		2011-08-16	2013-05-14
	52. WPP PLC SPONSORED A D R		2011-08-16	2013-05-14
	183. WELLS FARGO & CO NEW		2012-06-20	2013-05-14
	56. WHIRLPOOL CORP		2013-04-22	2013-05-14
	35. WILLIAMS SONOMA INC		2012-03-05	2013-05-14
	80. XINYI GLASS HOLDINGS LTS A D R		2012-07-09	2013-05-14
	120. YUM BRANDS INC		2011-08-16	2013-05-14
	88. ACCENTURE PLC CL A		2011-08-16	2013-05-14
	44. BUNGE LIMITED		2013-02-15	2013-05-14
	98. COVIDIEN PLC		2013-03-06	2013-05-14
	113. EATON CORP PLC		2012-11-30	2013-05-14
	72. MICHAEL KORS HOLDINGS LLD		2012-08-07	2013-05-14
	227. SEADRILL LIMITED		2012-05-11	2013-05-14
	70. ACE LTD		2013-04-04	2013-05-14
	12. ASML HOLDING NV NY REG SHS		2013-05-09	2013-05-14
	670. ISHARES DOW JONES US REGIONAL ETF		2012-07-20	2013-06-04
	112. LULULEMON ATHLETICA INC		2013-04-08	2013-06-04
	58. HSBC HOLDINGS PLC SPONS A D R		2012-10-05	2013-06-06
	275. HSBC HOLDINGS PLC SPONS A D R		2011-08-16	2013-06-06
	15. COGNIZANT TECH SOLUTIONS CL A		2013-05-14	2013-06-12
	212. COGNIZANT TECH SOLUTIONS CL A		2011-08-16	2013-06-12
	56. E BAY INC		2011-08-16	2013-06-12
	.9 ITAU UNIBANCO HOLDINGS SA A D R		2011-08-16	2013-06-12
	3. ABBVIE INC		2013-01-15	2013-06-17
	113. ABBVIE INC		2011-08-16	2013-06-17
	67. FIDELITY NATL INFORMATION SVCS INC		2012-03-16	2013-06-17
	291. ROYAL DUTCH SHELL PLC A D R		2011-08-16	2013-06-17
	626. ARM HLDGS PLC A D R		2011-08-16	2013-06-19
	167. LAUDER ESTEE COS INC CL A		2011-08-16	2013-06-21
	7. LAUDER ESTEE COS INC CL A		2013-05-14	2013-06-21
	4476.276 INV BALANCE RISK COMM STR Y		2012-10-08	2013-07-02
	27837.145 INV BALANCE RISK COMM STR Y		2012-05-04	2013-07-02
	4851. ISHARES JPMORGAN USD EMERG ETF		2012-10-08	2013-07-02
	1666.667 NUVEEN HIGH INCOME BOND FD CL I		2012-10-08	2013-07-02
	50575.536 NUVEEN HIGH INCOME BOND FD CL I		2011-08-15	2013-07-02
	32. MALLINCKRODT PLC W I		2013-03-06	2013-07-08
	424. BROADCOM CORP CL A		2011-10-19	2013-07-10
	120. ROCKWELL AUTOMATION INC		2012-03-01	2013-07-10
	203. VARIAN MED SYS INC		2011-08-16	2013-07-17
	.25 MALLINCKRODT PLC W I		2013-03-06	2013-07-18
	297. AIR LIQUIDE S A A D R		2011-08-16	2013-07-25
	61. EQUINIX INC		2011-10-19	2013-08-07
	11. INTERNATIONAL BUSINESS MACHS CORP		2011-08-16	2013-08-08
	64. LOWE'S COS INC		2012-10-05	2013-08-08
	24. V F CORP		2011-08-16	2013-08-08
	34. MCCORMICK CO NON VTG SHRS		2011-08-16	2013-08-23
	120. DEERE & CO		2011-12-21	2013-09-06
	91. DEERE & CO		2012-11-27	2013-09-06
	96. INTERNATIONAL BUSINESS MACHS CORP		2011-08-16	2013-09-06
	98. NEXTERA ENERGY INC		2011-08-16	2013-09-06
	2107. LONZA GROUP AG UNSPON A D R		2011-08-16	2013-09-17
	70. EQUINIX INC		2011-08-31	2013-09-18
	173. QUALCOMM INC		2012-08-07	2013-09-18
	99. LORILLARD INC		2013-03-06	2013-09-19
	496. LORILLARD INC		2011-08-16	2013-09-19
	521. AIA GROUP LTD ADR		2012-04-03	2013-09-23
	424. AIR LIQUIDE S A A D R		2011-08-16	2013-09-23
	739. ALLIANZ SE A D R		2011-08-16	2013-09-23
	79. ANHEUSER BUSCH INBEV NV A D R		2012-05-04	2013-09-23
	160. ARM HLDGS PLC A D R		2012-08-01	2013-09-23
	208. ATLAS COPCO AB SPONS A D R		2011-08-16	2013-09-23
	356. B G GROUP P L C A D R		2011-08-16	2013-09-23
	55. BAIDU COM INC A D R		2013-06-12	2013-09-23
	579. BANCO BILBAO VIZCAYA ARGEN A D R		2013-02-22	2013-09-23
	198. BAYERISCHE MOTOREN WERKE UNSPN A D R		2013-07-25	2013-09-23
	215. CSL LIMITED A D R		2011-08-16	2013-09-23
	68. CANADIAN NATL RY CO		2011-08-16	2013-09-23
	99. COCHLEAR LTD UNSPON A D R		2012-10-05	2013-09-23
	108. DBS GROUP HLDGS LTD		2011-08-16	2013-09-23
	110. DASSAULT SYSTEMES SA A D R		2011-08-16	2013-09-23
	331. FANUC CORPORATION A D R		2011-08-16	2013-09-23
	263. FRESENIUS MED AKTIENGESELLSCHAFT ADR		2013-05-20	2013-09-23
	68. FRESENIUS MED AKTIENGESELLSCHAFT ADR		2011-08-16	2013-09-23
	416. OAO GAZPROM SPON A D R		2013-02-05	2013-09-23
	253. HONG KONG EXCHANGES A D R		2013-06-13	2013-09-23
	80. I C I C I BANK LIMITED A D R		2012-10-05	2013-09-23
	95. I C I C I BANK LIMITED A D R		2011-08-16	2013-09-23
	121. IMPERIAL OIL LTD		2011-08-16	2013-09-23
	608. ITAU UNIBANCO HOLDINGS SA A D R		2012-07-31	2013-09-23
	151. JGC CORP UNSPONSORED A D R		2011-08-16	2013-09-23
	294. LOREAL UNSPONSORED A D R		2011-08-16	2013-09-23
	131. LVMH MOET HENNESSY LOU VUITT A D R		2011-08-16	2013-09-23
	254. LONZA GROUP AG UNSPON A D R		2011-08-16	2013-09-23
	113. LONZA GROUP AG UNSPON A D R		2013-02-12	2013-09-23
	176. MTN GROUP LTD A D R		2011-08-16	2013-09-23
	190. NESTLE SA SPONSORED A D R		2011-08-16	2013-09-23
	243. NOKIAN TYRES OYJ UNSPON A D R		2012-03-13	2013-09-23
	25. NOVO NORDISK AS A D R		2013-06-12	2013-09-23
	194. PETROLEO BRASILEIRO S A A D R		2012-10-04	2013-09-23
	679. POTASH CORP OF SASKATCHEWAN		2012-12-13	2013-09-23
	166. ROCHE HLDG LTD A D R		2011-08-16	2013-09-23
	187. SAP AG A D R		2012-05-04	2013-09-23
	71. SASOL LTD SPONSORED A D R		2011-08-16	2013-09-23
	91. SCHLUMBERGER LTD		2011-08-16	2013-09-23
	533. SCHNEIDER ELECT SA UNSP A D R		2011-08-16	2013-09-23
	162. SONOVA HOLDING UNSPON ADR		2011-08-16	2013-09-23
	166. SVENSKA HANDELSBANKEN A UNSP A D R		2012-07-24	2013-09-23
	176. SWATCH GROUP AG A D R		2011-08-16	2013-09-23
	248. SYSMEX CORP UNSPON A D R		2012-05-24	2013-09-23
	660. TAIWAN SEMICONDUCTOR A D R		2012-08-01	2013-09-23
	246. TESCO PLC A D R		2011-11-07	2013-09-23
	1128. TURKIYE GARANTI BANKASI A S A D R		2012-10-05	2013-09-23
	342. TURKIYE GARANTI BANKASI A S A D R		2011-08-16	2013-09-23
	96. UNI CHARM CORPORATION A D R		2012-10-05	2013-09-23
	624. UNI CHARM CORPORATION A D R		2011-08-16	2013-09-23
	99. UNILEVER PLC SPSD ADR		2011-08-16	2013-09-23
	122. WPP PLC SPONSORED A D R		2011-08-16	2013-09-23
	231. XINYI GLASS HOLDINGS LTS A D R		2012-07-09	2013-09-23
	334. XINYI GLASS HOLDINGS LTS A D R		2012-07-09	2013-09-23
	95. BUNGE LIMITED		2011-08-16	2013-09-23
	23. APPLE INC		2011-08-16	2013-09-24
	1210. LONZA GROUP AG UNSPON A D R		2013-02-12	2013-10-02
	350. FRESENIUS MED AKTIENGESELLSCHAFT ADR		2011-08-16	2013-10-09
	99. GOLDMAN SACHS GROUP INC		2013-06-04	2013-10-11
	232. WILLIAMS SONOMA INC		2012-03-05	2013-10-11
	194. ARM HLDGS PLC A D R		2012-09-26	2013-10-14
	10. BLACKROCK INC		2011-08-16	2013-10-30
	98. LOWE'S COS INC		2012-10-05	2013-10-30
	21. WHIRLPOOL CORP		2013-04-22	2013-10-30
	31. EATON CORP PLC		2012-11-30	2013-10-30
	105. ALLERGAN INC		2011-08-16	2013-11-07
	11. ALLERGAN INC		2013-05-14	2013-11-07
	212. EXPRESS SCRIPTS HLDGS C		2011-08-16	2013-11-18
	34. ONEOK INC		2011-08-16	2013-11-20
	39. TIME WARNER CABLE INC		2012-02-07	2013-11-20
	57. YUM BRANDS INC		2011-08-16	2013-11-20
	289. DOLLAR GENERAL CORP		2012-09-04	2013-12-03
	261. YUM BRANDS INC		2011-08-16	2013-12-06
	9447.331 NUVEEN REAL ESTATE SECS I		2012-10-08	2013-12-10
	200. ACCENTURE PLC CL A		2011-08-16	2013-12-20
	95. ACCENTURE PLC CL A		2013-07-17	2013-12-20
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	21,222	17,461	3,761
b	1,881	1,926	-45
c	11,396	8,264	3,132
d	3,832	3,467	365
e	12,794	12,621	173
	20,809	19,467	1,342
	8,551	7,224	1,327
	8,526	6,028	2,498
	9,644	9,462	182
	1,489	1,866	-377
	1,399	2,767	-1,368
	2,113	2,724	-611
	19,021	15,674	3,347
	2,839	5,558	-2,719
	28,063	39,645	-11,582
	9,902	9,697	205
	10,672	6,452	4,220
	2,605	2,454	151
	23,043	22,331	712
	12,627	10,138	2,489
	5,686	4,576	1,110
	199	183	16
	6,618	6,740	-122
	6,432	4,936	1,496
	22,276	28,781	-6,505
	2,745	3,932	-1,187
	3,935	3,696	239
	5,546	3,431	2,115
	3,388	2,575	813
	2,371	2,796	-425
	2,289	2,363	-74
	2,086	2,233	-147
	3,656	1,911	1,745
	3,167	2,278	889
	2,223	2,420	-197
	2,906	2,717	189
	5,127	3,479	1,648
	4,262	4,677	-415
	3,823	4,306	-483
	2,204	2,326	-122
	1,852	1,533	319
	3,250	3,217	33
	2,463	2,669	-206
	4,615	4,445	170
	1,862	2,384	-522
	4,437	3,277	1,160
	2,284	2,171	113
	3,471	3,482	-11
	1,850	1,931	-81
	7,457	6,474	983
	2,625	2,744	-119
	99,468	83,274	16,194
	1,762	2,263	-501
	3,054	3,293	-239
	5,101	3,666	1,435
	7,333	4,680	2,653
	1,256	1,248	8
	3,306	3,363	-57
	4,349	3,879	470
	3,445	2,342	1,103
	2,023	1,740	283
	2,869	2,250	619
	2,621	2,114	507
	3,316	2,223	1,093
	2,053	2,355	-302
	4,611	3,159	1,452
	3,876	3,927	-51
	2,103	1,717	386
	4,475	2,846	1,629
	1,482	1,243	239
	3,698	3,074	624
	5,143	4,057	1,086
	11,284	16,574	-5,290
	4,725	2,961	1,764
	4,996	3,216	1,780
	17,304	13,363	3,941
	6,027	5,197	830
	14,819	11,733	3,086
	17,010	14,661	2,349
	4,799	4,309	490
	28,173	21,795	6,378
	12,672	10,588	2,084
	9,077	6,718	2,359
	3,149	2,518	631
	8,988	6,991	1,997
	10,633	6,825	3,808
	5,403	5,009	394
	2,850	2,053	797
	801	590	211
	2,176	1,212	964
	3,448	2,787	661
	1,619	1,426	193
	3,438	2,566	872
	1,776	2,443	-667
	5,328	7,608	-2,280
	5,762	8,006	-2,244
	2,659	2,270	389
	3,651	2,035	1,616
	6,566	3,405	3,161
	2,464	2,056	408
	726	845	-119
	1,582	1,787	-205
	1,868	1,971	-103
	1,338	1,424	-86
	6,528	3,698	2,830
	2,553	2,119	434
	4,163	3,518	645
	2,954	3,040	-86
	2,406	1,258	1,148
	10,056	8,796	1,260
	2,345	1,762	583
	3,263	2,278	985
	4,891	4,978	-87
	1,620	1,285	335
	9,220	7,220	2,000
	10,213	8,283	1,930
	1,902	2,069	-167
	6,729	5,322	1,407
	2,096	1,704	392
	433	308	125
	6,010	3,953	2,057
	3,364	2,746	618
	251	193	58
	1,073	532	541
	1,270	1,260	10
	1,377	1,525	-148
	2,129	1,151	978
	1,833	770	1,063
	2,500	1,959	541
	873	908	-35
	3,653	3,976	-323
	7,558	5,685	1,873
	1,970	1,897	73
	2,634	1,439	1,195
	1,239	1,360	-121
	2,788	2,833	-45
	1,035	1,232	-197
	924	870	54
	1,769	1,075	694
	2,046	1,623	423
	75,640	68,980	6,660
	4,244	3,753	491
	504	598	-94
	1,629	1,758	-129
	1,217	1,025	192
	8,313	6,994	1,319
	3,583	3,123	460
	3,957	4,112	-155
	5,190	4,440	750
	2,628	2,786	-158
	9,760	7,016	2,744
	7,072	4,461	2,611
	3,988	2,650	1,338
	1,534	1,448	86
	2,587	2,289	298
	9,213	7,442	1,771
	9,731	7,231	2,500
	1,143	907	236
	8,426	5,226	3,200
	8,221	6,264	1,957
	1,613	1,376	237
	7,031	5,820	1,211
	1,177	1,182	-5
	5,983	5,405	578
	44,320	37,083	7,237
	9,368	6,382	2,986
	2,300	2,397	-97
	7,507	4,769	2,738
	40,312	29,781	10,531
	1,950	1,874	76
	7,249	5,094	2,155
	1,200	1,475	-275
	10,936	6,837	4,099
	9,672	6,918	2,754
	5,935	5,571	364
	5,598	3,145	2,453
	3,051	3,077	-26
	1,905	1,460	445
	3,156	1,970	1,186
	7,088	5,529	1,559
	845	842	3
	2,418	1,782	636
	5,231	3,419	1,812
	1,883	1,713	170
	7,585	7,126	459
	6,776	5,173	1,603
	1,518	1,515	3
	953	626	327
	3,450	3,519	-69
	2,073	2,106	-33
	3,538	3,185	353
	2,035	2,048	-13
	7,893	6,909	984
	1,328	1,214	114
	1,707	1,380	327
	1,771	1,387	384
	3,869	2,720	1,149
	4,786	2,791	1,995
	2,087	2,395	-308
	1,185	756	429
	7,759	5,946	1,813
	791	866	-75
	2,896	1,717	1,179
	4,200	3,198	1,002
	1,847	1,448	399
	8,430	4,929	3,501
	2,966	1,736	1,230
	2,106	1,675	431
	1,764	1,436	328
	9,395	5,709	3,686
	184	161	23
	560	453	107
	4,528	2,691	1,837
	7,064	5,836	1,228
	7,203	6,529	674
	1,980	1,339	641
	1,225	913	312
	8,413	6,142	2,271
	7,076	4,799	2,277
	3,161	3,298	-137
	6,531	6,381	150
	7,330	5,825	1,505
	4,419	3,171	1,248
	9,000	7,651	1,349
	6,467	6,208	259
	931	928	3
	19,030	16,221	2,809
	9,165	7,247	1,918
	3,148	2,801	347
	14,924	12,400	2,524
	965	931	34
	13,634	13,233	401
	2,861	1,696	1,165
	13	14	-1
	129	103	26
	4,853	2,935	1,918
	2,943	2,215	728
	19,157	19,025	132
	23,643	16,027	7,616
	11,021	7,835	3,186
	462	502	-40
	38,765	50,000	-11,235
	241,070	303,703	-62,633
	535,784	589,514	-53,730
	15,033	15,000	33
	456,191	435,961	20,230
	1,374	1,457	-83
	14,399	14,738	-339
	10,480	9,790	690
	14,324	11,490	2,834
	11	11
	7,694	6,793	901
	10,759	5,869	4,890
	2,073	1,876	197
	2,926	2,030	896
	4,791	2,687	2,104
	2,383	1,572	811
	9,905	9,152	753
	7,511	7,722	-211
	17,644	16,377	1,267
	7,858	5,346	2,512
	16,785	13,711	3,074
	12,306	6,732	5,574
	12,031	10,576	1,455
	4,468	3,818	650
	22,384	17,411	4,973
	9,956	7,446	2,510
	11,876	9,698	2,178
	11,639	8,070	3,569
	7,875	5,791	2,084
	7,710	4,229	3,481
	6,150	4,501	1,649
	6,718	7,713	-995
	8,169	5,368	2,801
	6,444	5,822	622
	7,150	6,470	680
	6,583	3,513	3,070
	6,884	4,841	2,043
	2,758	3,523	-765
	5,710	4,973	737
	14,547	8,697	5,850
	9,400	9,538	-138
	8,594	9,059	-465
	2,222	2,378	-156
	3,777	3,943	-166
	4,190	4,108	82
	2,556	3,306	-750
	3,035	3,918	-883
	5,264	5,065	199
	8,689	9,598	-909
	11,085	8,645	2,440
	10,193	6,833	3,360
	5,174	4,310	864
	2,050	1,656	394
	912	727	185
	3,457	3,467	-10
	13,220	11,942	1,278
	6,255	5,799	456
	4,271	4,181	90
	3,126	4,392	-1,266
	21,857	28,767	-6,910
	10,948	6,838	4,110
	13,828	10,261	3,567
	3,460	3,163	297
	7,943	7,116	827
	9,247	7,254	1,993
	3,979	2,616	1,363
	3,702	2,751	951
	5,637	4,000	1,637
	7,720	4,750	2,970
	11,629	8,707	2,922
	4,445	4,783	-338
	4,794	4,994	-200
	1,453	1,221	232
	1,039	1,109	-70
	6,752	5,834	918
	4,071	3,333	738
	12,416	6,314	6,102
	4,211	2,635	1,576
	6,015	3,810	2,205
	7,352	5,960	1,392
	11,291	8,702	2,589
	9,746	7,416	2,330
	11,095	12,241	-1,146
	15,708	14,862	846
	12,260	8,876	3,384
	9,282	5,334	3,948
	3,086	1,608	1,478
	4,924	3,108	1,816
	3,103	2,448	655
	2,225	1,610	615
	9,333	7,912	1,421
	978	1,142	-164
	13,736	10,129	3,607
	1,947	1,155	792
	4,723	2,926	1,797
	4,132	2,917	1,215
	16,269	14,860	1,409
	19,353	13,358	5,995
	200,283	179,817	20,466
	16,032	10,908	5,124
	7,615	7,187	428
			100,822

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			3,761
b			-45
c			3,132
d			365
e			173
			1,342
			1,327
			2,498
			182
			-377
			-1,368
			-611
			3,347
			-2,719
			-11,582
			205
			4,220
			151
			712
			2,489
			1,110
			16
			-122
			1,496
			-6,505
			-1,187
			239
			2,115
			813
			-425
			-74
			-147
			1,745
			889
			-197
			189
			1,648
			-415
			-483
			-122
			319
			33
			-206
			170
			-522
			1,160
			113
			-11
			-81
			983
			-119
			16,194
			-501
			-239
			1,435
			2,653
			8
			-57
			470
			1,103
			283
			619
			507
			1,093
			-302
			1,452
			-51
			386
			1,629
			239
			624
			1,086
			-5,290
			1,764
			1,780
			3,941
			830
			3,086
			2,349
			490
			6,378
			2,084
			2,359
			631
			1,997
			3,808
			394
			797
			211
			964
			661
			193
			872
			-667
			-2,280
			-2,244
			389
			1,616
			3,161
			408
			-119
			-205
			-103
			-86
			2,830
			434
			645
			-86
			1,148
			1,260
			583
			985
			-87
			335
			2,000
			1,930
			-167
			1,407
			392
			125
			2,057
			618
			58
			541
			10
			-148
			978
			1,063
			541
			-35
			-323
			1,873
			73
			1,195
			-121
			-45
			-197
			54
			694
			423
			6,660
			491
			-94
			-129
			192
			1,319
			460
			-155
			750
			-158
			2,744
			2,611
			1,338
			86
			298
			1,771
			2,500
			236
			3,200
			1,957
			237
			1,211
			-5
			578
			7,237
			2,986
			-97
			2,738
			10,531
			76
			2,155
			-275
			4,099
			2,754
			364
			2,453
			-26
			445
			1,186
			1,559
			3
			636
			1,812
			170
			459
			1,603
			3
			327
			-69
			-33
			353
			-13
			984
			114
			327
			384
			1,149
			1,995
			-308
			429
			1,813
			-75
			1,179
			1,002
			399
			3,501
			1,230
			431
			328
			3,686
			23
			107
			1,837
			1,228
			674
			641
			312
			2,271
			2,277
			-137
			150
			1,505
			1,248
			1,349
			259
			3
			2,809
			1,918
			347
			2,524
			34
			401
			1,165
			-1
			26
			1,918
			728
			132
			7,616
			3,186
			-40
			-11,235
			-62,633
			-53,730
			33
			20,230
			-83
			-339
			690
			2,834

			901
			4,890
			197
			896
			2,104
			811
			753
			-211
			1,267
			2,512
			3,074
			5,574
			1,455
			650
			4,973
			2,510
			2,178
			3,569
			2,084
			3,481
			1,649
			-995
			2,801
			622
			680
			3,070
			2,043
			-765
			737
			5,850
			-138
			-465
			-156
			-166
			82
			-750
			-883
			199
			-909
			2,440
			3,360
			864
			394
			185
			-10
			1,278
			456
			90
			-1,266
			-6,910
			4,110
			3,567
			297
			827
			1,993
			1,363
			951
			1,637
			2,970
			2,922
			-338
			-200
			232
			-70
			918
			738
			6,102
			1,576
			2,205
			1,392
			2,589
			2,330
			-1,146
			846
			3,384
			3,948
			1,478
			1,816
			655
			615
			1,421
			-164
			3,607
			792
			1,797
			1,215
			1,409
			5,995
			20,466
			5,124
			428

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	363,919
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 . . . . . . . . . . . . . . . .		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.

1 Enter the appropriate amount in each column for each year; see page 18 of the instructions before making any entries.
(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2012	452,911	9,093,814	0.049804
2011	455,258	8,834,634	0.051531
2010	461,717	8,760,283	0.052706
2009	473,104	8,345,588	0.056689
2008	473,116	8,735,621	0.054159

2	Total of line 1, column (d) ......................	2	0.264889
3	Average distribution ratio for the 5-year base period—divide the total on line 2 by 5, or by the number of years the foundation has been in existence if less than 5 years. . .	3	0.052978
4	Enter the net value of noncharitable-use assets for 2013 from Part X, line 5.....	4	9,537,576
5	Multiply line 4 by line 3.......................	5	505,282
6	Enter 1% of net investment income (1% of Part I, line 27b)...........	6	5,475
7	Add lines 5 and 6.........................	7	510,757
8	Enter qualifying distributions from Part XII, line 4..............	8	458,809
If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.

Form 990-PF (2013)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see page 18 of the instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check hereand enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	10,949
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2............................	3	10,949
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-).	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	10,949
6	Credits/Payments:

a	2013 estimated tax payments and 2012 overpayment credited to 2013	6a	10,856
b	Exempt foreign organizations—tax withheld at source.......	6b
c	Tax paid with application for extension of time to file (Form 8868)	6c	0
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	10,856
8	Enter any penalty for underpayment of estimated tax. Check hereif Form 2220 is attached.		8	7
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	100
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2014 estimated tax0	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes (see page 19 of

the instructions for definition)?............................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c), and Part XV.

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2013 or the taxable year beginning in 2013 (see instructions for Part XIV)?

If "Yes," complete Part XIV.............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names and addresses.

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. (see instructions) .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement (see instructions).................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

The books are in care of bullet

US BANK NATIONAL ASSOCIATION Telephone no. bullet

(612) 303-3205

Located at bullet

800 NICOLLET MALLMINNEAPOLISMN ZIP+4 bullet

55402

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —Check here......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ...... bullet

16 At any time during calendar year 2013, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country?

16 No

See instructions for exceptions and filing requirements for Form TD F 90-22.1. If "Yes", enter the name of the

foreign country bullet

Form 990-PF (2013)

Page 5

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?.........................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?.................YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).........YesNo

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance (see page 20 of the instructions)?...

Organizations relying on a current notice regarding disaster assistance check here......... bullet

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2013?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2013, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2013?...............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?.........................YesNo

If "Yes," did it have excess business holdings in 2013 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2013.)....................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2013?

During the year did the foundation pay or incur any amount to:

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?...............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 509(a)(1), (2), or (3), or section 4940(d)(2)? (see instructions)........YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?........YesNo

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance (see instructions)? ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?............YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?........................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract?....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

Form 990-PF (2013)

Page 6

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation (see instructions).
(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
US BANK NATIONAL ASSOC	CORP TRUSTEE 8	64,084
PO BOX 64713 ST PAUL,MN55101	CORP TRUSTEE 8	64,084

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.		Expenses
1


2


3


4

Form 990-PF (2013)

Page 7

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.		Amount
1


2


All other program-related investments. See page 24 of the instructions.
3

Total. Add lines 1 through 3......................... bullet

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,
see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

Average of monthly cash balances.......................

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

Minimum investment return. Enter 5% of line 5..................

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

476,879

Tax on investment income for 2013 from Part VI, line 5......

10,949

Income tax for 2013. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

10,949

Distributable amount before adjustments. Subtract line 2c from line 1............

465,930

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

465,930

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII,

line 1................................

465,930

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b (see instructions).................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
the section 4940(e) reduction of tax in those years.

Form 990-PF (2013)

Page 8

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2012	(c) 2012	(d) 2013
1 Distributable amount for 2013 from Part XI, line 7					465,930
2 Undistributed income, if any, as of the end of 2013:
a Enter amount for 2012 only.......				0
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2013:
a From 2008.......	42,883
b From 2009.......	63,335
c From 2010.......	33,696
d From 2011.......	34,823
e From 2012.......	3,970
fTotal of lines 3a through e.........		178,707
4Qualifying distributions for 2013 from Part
XII, line 4: $ 458,809
a Applied to 2012, but not more than line 2a				0
b Applied to undistributed income of prior years (Election required—see instructions)......			0
c Treated as distributions out of corpus (Election required—see instructions).........		0
d Applied to 2013 distributable amount.....					458,809
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2013.		7,121			7,121
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		171,586
b Prior years’ undistributed income. Subtract line 4b from line 2b ...........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2012. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2013. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2014 ..........					0
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (see instructions) .............		0
8Excess distributions carryover from 2008 not applied on line 5 or line 7 (see instructions) ...		35,762
9Excess distributions carryover to 2014. Subtract lines 7 and 8 from line 6a ......		135,824
10 Analysis of line 9:
a Excess from 2009....	63,335
b Excess from 2010....	33,696
c Excess from 2011....	34,823
d Excess from 2012....	3,970
e Excess from 2013....

Form 990-PF (2013)

Page 9

Part XIV

Private Operating Foundations (see instructions and Part VII-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2013, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2013	(b) 2012	(c) 2011	(d) 2010	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ...........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the organization had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. (see instructions) to individuals or organizations under
other conditions, complete items 2a, b, c, and d.

aThe name, address, and telephone number of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2013)

Page 10

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
DUNWOODY INSTITUTE 818 DUNWOODY BOULEVARD MINNEAPOLIS,MN55403	NONE	PUBLIC	ENDOWMENT FUND	442,741
Total ................................. 3a				442,741

bApproved for future payment

Total ................................. 3b

Form 990-PF (2013)

Page 11

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ............			14	23
4 Dividends and interest from securities....			14	245,767
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....
6 Net rental income or (loss) from personal property .............
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory .............			18	363,919
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory..
11 Other revenue: aFEDERAL TAX REFUND			01	4,568
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				614,277

13Total. Add line 12, columns (b), (d), and (e)..................

13614,277

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2013)

Page 12

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) of the Code (other than section 501(c)(3) organizations) or in section 527, relating to political

Yes

organizations?

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) of the Code (other than section 501(c)(3)) or in section 527?...........YesNo

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer or fiduciary) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name Firm's address			Firm's EIN
				Phone no.

Form 990-PF (2013)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Name of Bond	End of Year Book Value	End of Year Fair Market Value
DRIEHAUS ACTIVE INCOME FUND	568,720	577,841
NUVEEN HIGH INCOME BOND
PIMCO TOTAL RETURN FUND INST	987,634	952,356
INV BALANCE RISK COMM STR Y
ISHARES JP MORGAN EM BD FD
OPPENHEIMER SR FLOAT RATE	475,000	479,562
ISHARES CORE TOTAL US BOND	345,881	343,237

Name of Stock	End of Year Book Value	End of Year Fair Market Value
ABBOTT LABORATORIES
ALLERGAN INC
AMAZON COM INC	10,427	21,136
AMERIPRISE FINL INC	11,198	24,161
ANADARKO PETROLEUM CORP	12,432	13,802
APPLE INC	63,356	81,909
ATT INC	23,593	27,952
BLACKROCK INC	35,201	50,002
BORG WARNER INC	17,660	28,067
BROADCOM CORP CL A
CAMERON INTL CORP	15,616	19,526
CATERPILLAR INC	14,153	14,620
CELGENE CORP	10,731	32,442
CERNER CORP	8,802	16,833
CHEVRON CORP	31,259	39,846
COCA COLA CO	21,821	26,521
COGNIZANT TECH SOLUTIONS
CULLEN FROST BANKERS	14,325	21,436
DANAHER CORP	13,247	23,237
DEERE & CO
DIRECTV CL A
DISNEY WALT CO	7,055	16,197
E BAY INC	12,687	22,988
E M C CORP	19,882	21,554
EATON CORP	13,817	20,248
FLOWSERVE CORP	8,364	21,994
FLUOR CORP	11,939	18,627
GOOGLE INC CL A	29,022	54,915
INTERNATIONAL BUSINESS MACH CO	13,833	15,193
ITC HLDGS CORP	13,095	16,673
JP MORGAN CHASE CO	17,759	30,059
KINDER MORGAN INC	18,361	22,860
LAUDER ESTEE COS IN CL A	9,758	15,667
LORILLARD INC
MCCORMICK CO INC	11,794	17,575
MICROCHIP TECH INC
MICROSOFT CORP	17,278	25,588
MOTOROLA SOLUTIONS INC	14,973	21,533
NEW YORK COMM BANCORP INC
NEXTERA ENERGY INC	12,165	19,093
ONEOK INC	11,446	20,955
PACCAR INC
PFIZER INC	18,275	30,538
PHILIP MORRIS INTL	22,465	27,272
PIONEER NAT RES CO	9,828	23,009
PRICELINE COM INC	9,356	22,086
QUALCOMM INC	41,518	53,906
SCHEIN HENRY INC	18,100	33,021
SOUTHERN COPPER CORP DEL	18,122	18,374
THERMO FISHER SCIENTIFIC INC	11,880	24,497
UNION PACIFIC CORP	33,943	58,464
V F CORP	23,368	44,885
VARIAN MED SYS INC
YUM BRANDS INC
ACCENTURE PIC CL A	13,796	20,802
AIR LIQUIDE S A A D R	32,707	40,596
ALLIANZ SE A D R	28,882	44,346
AMERICA MOVIL A D R
ARM HLDFS PLC A D R	29,489	53,691
ATLAS COPCO AB SPONS A D R	16,787	21,214
B G GROUP P L C A D R	23,942	23,967
BUNGE LIMITED	23,879	27,589
CANADIAN NATL RY CO	17,217	26,229
ABERDEEN FD EMRGN MKT INSTL	402,491	393,717
GOLDMAN SACHS M C VALU CL INST	174,459	232,002
HIGHLAND LONG SHORT EQUITY Z	453,361	527,448
NEUBERGER BERMAN GENESIS INSTL	224,494	299,681
NUVEEN REAL ESTATE SEC	431,340	452,712
OPPENHEIMER DEV MKTS FDS CL	222,491	258,349
T ROWE PRICE MID CAP GROWTH FD	263,590	325,647
WPP PICSPONSORED A D R	22,695	46,863
COCHLEAR LTD UNSPON A D R	18,250	12,336
CSI LIMITED A D R	12,872	22,247
DASSAULT SYSTEMES SA A D R	30,443	44,872
DBS GROUPS HLDGS LTD	16,874	19,809
DIAGEO PLC SPONSORED A D R	14,919	24,233
FANUC CORP A D R	40,212	42,840
FRESENIUS MED CARE	25,427	25,902
HSBC HLDGS PIC SPONS A D R
I C I C I BANK LIMITED A D R	25,694	23,157
IMPERIAL OIL LTD	17,162	18,134
ITAU UNIBANCO HLDGS SA A D R	33,904	32,079
JGC CORP UNSPONS A D R	29,464	36,317
LI FUNG LTD
LONZA GROUP AG UNSPONS
LOREAL CO UNSPONS	23,090	34,377
LVMH MOET HENNESSY LOU VUITT	13,813	15,445
MTN GROUP LTD	11,747	12,705
NESTLE SA SPONS	42,759	49,747
NOVO NORDISK AS	26,970	36,767
OAO GAZPROM SPON	15,731	11,928
PETROLEO BRASILEIRO SPONS	13,629	8,296
QIAGEN NV
ROCHE HLDGS LTD	25,713	42,260
ROYAL DUTCH SHELL PIC
SAP AG	35,238	54,201
SASOL LTD SPONS	10,173	11,324
SCHLUMBERGER LTD	43,310	52,534
SCHNEIDER ELECT SA UNSP	25,023	32,485
SEADRILL LTD	18,969	25,223
SONOVA HLDGS INSPONS	9,320	15,118
SWATCH GROUP AG	13,005	19,356
TAIWAN SEMICONDUCTOR	30,112	34,671
TESCO PIC	15,943	14,651
TURKIYE GARANTI BANKASI	18,921	17,013
UNI CHARM CORP	23,459	28,402
UNILEVER PIC SPSD	12,040	14,379
ANALOG DEVICES INC	14,175	18,080
CVS	22,782	34,139
DOLLAR TREE
FIDELITY NAL INFORMATION SERV	13,353	21,687
LOWES CO INC	13,098	20,464
LULULEMON ATHLETICA INC	17,865	15,643
MONSANTO CO	31,431	38,928
PRECISION CASTPARTS COPR	19,020	26,391
RALPH LAUREN CORP	10,571	13,596
ROCKWELL AUTOMATION INC	10,117	14,652
THE GAP INC
TIME WARNER CABLE	14,781	26,694
TRIMBLE NAV LTD	21,981	26,684
UNITED TECH CORP	18,940	28,678
URBAN OUTFITTERS	18,123	17,252
VMWARE INC CL A
WALGREENS CO	15,486	25,331
WELLS FARGO CO	22,154	30,282
WILLAMS SONOMA INC
AIA GROUP LTD ADR	26,092	36,492
ANHEUSER BUSCH INBEV NV ADR	39,522	55,359
MICHAEL KORS HOLDINGS LID	13,862	28,904
NOKIAN TYRES OYJ UNSPON	17,288	19,664
POTASH CORP OF SASKATCHEWAN
SVENSKA HANDELSBANKEN A UNSP A	9,914	14,882
SYSMEX CORP UNSPON	17,365	25,114
XINYI GLASS HOLDINGS LTS	4,506	8,200
ISHARES DOW JONES REGIONAL BK
PYXIS LONG SHORT EQUITY Z
ABBVIE INC	17,559	26,880
AUTOLIV INC	10,494	12,760
BANK OF NEW YORK MELLON CORP	22,742	25,471
HAIN CELESTIAL GROUP INC	11,294	16,976
HONEYWELL INTL INC	17,966	20,558
LINKEDIN CORP	17,277	15,829
MACYS INC	19,431	20,399
OCWEN FINANCIAL CORP	15,771	20,517
PACKAGING CORP AMERICA	12,697	15,757
PHILLIPS 66	16,834	21,674
RESTORATION HARDWARE HOLDING	18,484	19,517
SPLUNK INC	23,547	25,202
STARBUCKS CORP	10,058	13,640
STARWOOD HOTELS & RESORTS	23,523	26,377
TUPPERWARE BRANDS CORP	13,228	15,125
UNITED HEALTH CORP	20,303	20,783
UNITED RENTALS INC	21,968	31,336
VISA INC	33,985	38,746
WHIRLPOOL CORP	14,806	19,921
ACE LTD	21,647	24,951
ASML HOLDING NV NY REG	10,898	13,212
BAIDU COM INC	17,990	33,797
BANCO BILBAO VIZCAYA ARGEN	19,240	24,421
BAYERISCHE MOTOREN WERKE UNSPN	26,135	31,071
COVIDIEN PIC	16,966	19,477
IPATH DOW JONES UBS COMM	236,608	235,200
ISHARES MSCI EAFE ETF	302,324	318,701
SPDER S&P 500 ETF TR	557,751	614,094
HONG KONG EXCHANGES A D R	14,502	14,938
SHIRE PLC A D R	12,314	12,716
MITSUBISHI ESTATE LTD	19,813	20,043
MONOTARO CO LTD	6,347	5,629
VALEANT PHARMACEUTICALS	11,261	19,958
EMERSON ELEC CO
EQUINIX INC
EQUITABLE CORP
EXPRESS SCRIPT HLDGS

Category	Amount	Net Investment Income
FOREIGN TAXES	5,662	5,662
FEDERAL TAX PAYMENT - PRIOR YE	2,156	0
FEDERAL TAX	7,900	0
FEDERAL TAX	2,956	0
FOREIGN TAXES ON QUALIFIED FOR	1,641	1,641
FOREIGN TAXES ON NONQUALIFIED	8	8