| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 3,000 | 1,800 | 0 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| HEARSST-ARGYLE TELEVISN MW@+15BP NT B/E RATE 07.000% MATURES 01/15/18 | 19,092 | 25,932 |
| LUBRIZOL CORP NEW NTS CALLMW +75BP RATE 08.875% MATURES 02/01/19 | 25,209 | 32,136 |
| WEATHERFORD INTL FOREIGN SECURITY RATE 09.625% MATURES 03/01/19 | 25,944 | 30,454 |
| DELTA AIRLINES INC NTS FACTOR 0.953217737000 RATE 04.950% MATURES 05/23/19 | 10,212 | 10,964 |
| ANHEUSER BUSCH INBEV 5.375% 011520 DTD101609 CALL @ MW +35BPS | 10,192 | 11,574 |
| COMCAST CORP NEW B/E +25BP RATE 05.150% MATURES 03/01/20 | 10,266 | 11,497 |
| PNC FUNDING CORP NTS B/E RATE 04.375% MATURES 08/11/20 | 10,036 | 11,083 |
| CONTL AIRLINES 2010-A B/E RATE 04.750% MATURES 01/12/21 | 4,056 | 4,530 |
| L-3 COMMS CORP NTS B/E CALL@MW+25BP RATE 04.950% MATURES 02/15/21 | 21,105 | 22,112 |
| MEDTRONIC INC CALL@MW T+15BPS B/E RATE 04.125% MATURES 03/15/21 | 10,254 | 10,908 |
| VERIZON COMMUNICATIONS KE-WHOLE +25BP RATE 04.600% MATURES 04/01/21 | 20,443 | 21,937 |
| J P MORGAN CHASE & CO NTS B/E RATE 04.625% MATURES 05/10/21 | 20,849 | 22,143 |
| AT&T INC B/E 5BP RATE 03.875% MATURES 08/15/21 | 10,123 | 10,609 |
| CITIGROUP INC MED TERM NTS RATE 04.500% MATURES 01/14/22 | 25,929 | 27,841 |
| ANHEUSER-BUSCH INBEV WOR CALL@MW +15BP RATE 02.500% MATURES 07/15/22 | 15,034 | 14,751 |
| US BANCORP MED TERM NTS B/E RATE 02.950% MATURES 07/15/22 | 9,403 | 9,994 |
| FORD MOTOR CREDIT CO LLC NTS B/E RATE 04.250% MATURES 09/20/22 | 26,024 | 26,825 |
| STANLEY BLACK & DECKER INC B/E RATE 02.900% MATURES 11/01/22 | 15,187 | 14,861 |
| GENERAL ELEC CAP CORP MED TERM NTS RATE 03.100% MATURES 01/09/23 | 19,954 | 20,546 |
| EMERSON ELEC CO CALL@MW+50BP RATE 02.625% MATURES 02/15/23 | 14,935 | 14,945 |
| MORGAN STANLEY CALL@MW+30BP RATE 03.750% MATURES 02/25/23 | 25,881 | 25,974 |
| EOG RESOURCES INC B/E CALL@MW+20BP RATE 02.625% MATURES 03/15/23 | 24,537 | 24,166 |
| APPLE INC CALL@MW+15BP NTS B/E RATE 02.400% MATURES 05/03/23 | 22,983 | 24,397 |
| ORACLE CORP NTS B/E CALL@MW+20BP RATE 03.625% MATURES 07/15/23 | 20,094 | 21,308 |
| WELLS FARGO & CO B/E RATE 04.125% MATURES 08/15/23 | 9,966 | 10,652 |
| US AIRWAYS 2011 NTS SER A B/E RATE 07.125% MATURES 10/22/23 | 7,743 | 9,633 |
| BRISTOL MYERS SQUIBB CO CALL@MW+15BP RATE 03.250% MATURES 11/01/23 | 24,513 | 25,628 |
| PACIFIC GAS & ELEC CO CALL@MW+20BP RATE 03.850% MATURES 11/15/23 | 20,422 | 20,915 |
| SIMON PPTY GROUP LP B/E CALL@MW+15BP RATE 03.375% MATURES 10/01/24 | 24,951 | 25,689 |
| DOW CHEMICAL CO NTS SER MW B/E RATE 05.700% MATURES 05/15/18 | 17,728 | 22,349 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 25 SHRS AMAZON.COM INC | 1,615 | 7,759 |
| 812 SHRS AT&T INC | 24,992 | 27,275 |
| 280 SHRS CHEVRON CORP | 18,734 | 31,410 |
| 520 SHRS COCA COLA CO COM | 10,126 | 21,954 |
| 700 SHRS DOW CHEMICAL | 9,046 | 31,927 |
| 1,640 SHRS GENL ELECTRIC CO | 29,992 | 41,443 |
| 1000 SHRS INTEL CORP | 21,318 | 36,290 |
| 350 SHRS JOHNSON & JOHNSON COM | 18,732 | 36,600 |
| 500 SHRS MEDTRONIC INC | 16,223 | 36,100 |
| 466 SHRS METLIFE INC. | 14,990 | 25,206 |
| 700 SHR MICROSOFT CORP | 12,315 | 32,515 |
| 250 SHRS MONSANTO CO NEW | 20,177 | 29,868 |
| 300 SHRS SOUTHERN CO | 10,348 | 14,733 |
| 207 SHRS UNITED PARCEL SERVICE INC CL B | 14,967 | 23,012 |
| 250 SHRS UNTD TECHNOLOGIES CORP | 10,635 | 28,750 |
| 700 SHRS VERIZON COMMUNICATIONS INC | 18,810 | 32,746 |
| 300 SHRS 3M CO | 16,142 | 49,296 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| 3,398.476 SHRS AMERICAN FUNDS INTERNATIONAL GROWTH AND INCOME CLASS F-1 | AT COST | 88,156 | 108,207 |
| 8,770.958 BRANDES INSTL INTERNATIONAL EQUITY FUND E | AT COST | 135,483 | 137,967 |
| 1,848.152 SHRS OPPENHEIMER DEVELOPING MARKETS FUND CL A | AT COST | 62,113 | 64,796 |
| 23,042.970 SHRS MAINSTAY FUNDS HIGH YLD CORP BOND A | AT COST | 116,541 | 132,497 |
| 17,056.785 SHRS WELLS FARGO ADVANTAGE ABSOLUTE RETURN FUND CL A | AT COST | 182,008 | 185,066 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| AMOUNTS RECEIVABLE FROM SETTLED TRADES | 18,693 | 18,693 |
| Description | Amount |
|---|---|
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT FEES | 19,120 | 19,120 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| TAXES | 1,557 | 0 | 0 |