| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| SMITH, DUKES & BUCKALEW -- TAX RETURN PREPARATION | 2,500 | 0 | 2,500 | |
| REGIONS BANK - TAX PRO | 175 | 0 | 175 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 112,000 MOR STANLEY 3.7% | 112,308 | 113,525 |
| 109,000 IBM BD | 110,767 | 111,051 |
| 113,000 BHP BILLITON FINL | 112,834 | 113,062 |
| 113,000 RBC | 113,046 | 112,355 |
| 44,000 HESS CORP 8.125% 02/15/19 | 48,623 | 52,351 |
| 46,000 GOLDMAN SACHS GROUP 7.5% 02/15/19 | 48,637 | 54,715 |
| 48,000 TALSMAN ENERGY 7.75% 06/01/19 | 52,538 | 55,290 |
| 51,000 WACHOVIA CORP 5.75% 06/15/17 | 44,283 | 56,306 |
| 48,000 MERRILL LYNCH CO 6.875% 04/25/18 | 47,825 | 55,132 |
| 49,000 CA INC 5.37% 12/01/19 | 49,476 | 54,234 |
| 48,000 COMCAST CORP 5.7% 07/01/19 | 48,304 | 55,109 |
| 50,000 ORACEL CORP 5.75% 04/15/18 | 50,550 | 56,523 |
| 49,000 AT&T INC 5.6% 05/15/18 | 47,930 | 54,605 |
| 54,000 CISCO SYSTEMS INC | 57,772 | 56,971 |
| 51,000 PRUDENTIAL FINL 4.5% 11/15/20 | 50,660 | 55,350 |
| 51,000 TARGET CORP 5.375% 05/01/17 | 50,130 | 55,687 |
| 49,000 GE CAP CORP 5.3% | 49,274 | 55,957 |
| 57,000 AM EXPRESS CC 2.75% | 57,291 | 57,880 |
| 57,000 DIRECTV HDGS 3.55% 03/15/15 | 57,256 | 57,339 |
| 54,000 ANHAU-BUSCH 2.875% | 54,094 | 55,232 |
| 56,000 BARCLAYS BK 3.9% 04/07/15 | 56,004 | 56,478 |
| 54,000 DUKE ENERGY 2.15% 11/15/2016 | 54,014 | 54,997 |
| 54,000 PETROBRAS INTL 5.75% 01/20/20 | 53,952 | 52,148 |
| 55,000 KRAFT FOODS 1.625% 02/09/16 | 55,213 | 55,234 |
| 55,000 SUNTRUST BANK 3.5% | 54,971 | 57,335 |
| 56,000 CHEVRON CORP | 56,110 | 55,654 |
| 57,000 HP CO 2.2% 12/01/15 | 56,986 | 57,563 |
| 54,000 INTEL CORP 3.3% | 53,796 | 56,626 |
| 54,000 TOYOTO MOTOR 3.4% | 53,864 | 56,795 |
| 58,000 CITIGROUP INC | 58,107 | 58,059 |
| 45,000 CATERPILLAR INC 7.9% 12/15/18 | 45,392 | 54,866 |
| APPLE INC - 57,000 BD | 56,922 | 56,154 |
| MARATHON OIL CORP - 58,000 | 57,983 | 57,831 |
| MONDELEZ INTL - 55,000 | 55,045 | 57,043 |
| 55,000 FORD MOTOR CREDIT | 55,061 | 54,432 |
| 55,000 MOLSON COORS CO | 55,526 | 55,552 |
| 54,000 WALGREENS BOOTS | 54,360 | 55,075 |
| 56,000 JOHN DEERE CAPITAL CORP | 55,990 | 56,332 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 3M CO - - 1,300 SHS | 98,134 | 213,616 |
| AMERICAN EXPRESS -- 2,000 | 15,376 | 186,080 |
| ANADARKO PETROLEUM - 1,800 | 125,606 | 148,500 |
| APPLE INC - 2000 | 150,196 | 220,760 |
| AUTO DESK INC -- 1,400 | 57,180 | 84,084 |
| BLACK WARRIOR COAL CO -- 250 | 86,345 | 23,549 |
| BLACKROCK INC - 300 | 53,960 | 107,268 |
| CHEVRONTEXACO INC -- 1,500 | 70,601 | 168,270 |
| CISCO SYS INC. - 3,000 | 47,100 | 83,445 |
| CITIGROUP INC -- 3,700 | 185,513 | 200,207 |
| COCA COLA CO -- 4,000 | 43,750 | 168,880 |
| CVS/CAREMARK CORP - 2,500 | 78,500 | 240,775 |
| DOMINION RES INC -- 1,900 | 23,674 | 146,110 |
| DU PONT EI DE NEMOURS -- 1,000 | 24,995 | 73,940 |
| EMC CORP. MASS. - - 2,900 | 37,377 | 86,246 |
| EXXON MOBIL CORP -- 1,900 | 29,717 | 175,655 |
| FORD MOTOR CO -- 6,800 | 102,498 | 105,400 |
| FREEPORT-MCMORAN -- 1,500 SHS | 46,192 | 35,040 |
| GENERAL ELECTRIC CO-- 3,000 | 55,582 | 75,810 |
| GILEAD SCIENCES -- 1,750 | 103,563 | 164,955 |
| GOOGLE INC, CL A -- 80 | 24,129 | 42,453 |
| HONEYWELL INTL INC --1,600 | 123,754 | 159,872 |
| INTEL CORP -- 6,000 | 22,969 | 217,740 |
| INTUIT INC -- 1,000 | 63,492 | 92,190 |
| INVESCO LTD -- 3,800 | 126,426 | 150,176 |
| JOHNSON & JOHNSON -- 2,000 | 22,453 | 209,140 |
| JP MORGAN CHASE & CO -- 3,100 | 50,362 | 193,998 |
| LYONDELLBASELL INDUS -- 2,150 | 173,686 | 170,688 |
| MCKESSON CORP -- 1,000 | 108,110 | 207,580 |
| MERCK & CO-- 3,000 | 103,709 | 170,370 |
| NEMONT MINING CORP. - 2,000 | 56,560 | 37,800 |
| NEXTRA ENERGY INC-- 1,000 | 53,196 | 106,290 |
| NORTHROP GRUMMAN -- 1,400 | 42,440 | 206,346 |
| ORACLE CORP - 5,000 | 95,674 | 224,850 |
| PEPSICO INC. - 2,000 | 86,740 | 189,120 |
| PFIZER -- 1,500 | 5,540 | 46,725 |
| PHILLIPS 66 -- 2,000 | 122,114 | 143,400 |
| PRAXAIR INC - 1,000 | 100,267 | 129,560 |
| PROCTER & GAMBLE -- 2,450 | 54,218 | 223,171 |
| PRUDENTIAL FINL INC - 900 | 43,704 | 81,414 |
| QUALCOMM INC - - 2,500 | 105,595 | 185,825 |
| RAYTHEON -- 1,500 | 47,231 | 162,255 |
| SCHLUMBERGER LTD -- 2,500 | 78,680 | 213,525 |
| SOUTHERN CO -- 3,500 | 91,379 | 171,885 |
| STARBUCKS CORP -- 1,650 | 124,921 | 135,382 |
| STRYKER CORP - - 1,000 SHS | 58,225 | 94,330 |
| THERMO FISHER INC - 1,000 | 42,545 | 125,290 |
| TIFFANY & CO -- 900 | 57,303 | 96,174 |
| UNION PACIFIC -- 1,600 | 15,190 | 190,608 |
| UNITED TECH CORP - - 1,100 SHS | 75,830 | 126,500 |
| VERIZON COMMUNICATIONS -- 3,300 | 121,788 | 154,374 |
| WALT DISNEY CO -- 1,600 | 87,920 | 150,704 |
| WELLS FARGO CO - 5,000 | 171,570 | 274,100 |
| LAS VEGAS SANDS CORP - 750 | 59,415 | 43,620 |
| THE HERSEY CO - 1900 | 183,653 | 197,467 |
| MEAD JOHNSON CO - 900 | 89,568 | 90,486 |
| WHOLE FOODS INC - 1800 | 66,755 | 90,756 |
| AMERICAN INTL GROUP - 2400 | 132,096 | 134,424 |
| ABBVIE INC - 2900 SHS | 183,715 | 189,776 |
| CELGENE CORP - 1800 SHS | 149,941 | 201,348 |
| MYLAN INC - 1250 SHS | 62,025 | 70,463 |
| FEDEX CORP - 550 SHS | 92,939 | 95,513 |
| COGNIZANT TECH SOLUTIONS - 1800 SHS | 79,803 | 94,788 |
| CITRIX SYSTEMS - 2400 SHS | 158,594 | 153,120 |
| GOOGLE INC, CL C - 80 SHS | 24,068 | 42,112 |
| ECOLAB INC - 1200 SHS | 125,417 | 125,424 |
| AT&T - 3700 SHS | 134,929 | 124,283 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| 290,000 FNMA 5% | AT COST | 303,108 | 305,825 |
| 1457 FNMA 5% | AT COST | 1,551 | 1,535 |
| 34,936 FNMA | AT COST | 36,705 | 37,412 |
| 47,314 FNMA | AT COST | 48,770 | 49,307 |
| 25,938 FNMA | AT COST | 27,592 | 28,404 |
| 45,010 FNMA | AT COST | 46,603 | 48,094 |
| 54,687 FNMA | AT COST | 54,559 | 57,073 |
| 54,926 FNMA | AT COST | 55,029 | 56,040 |
| 30,200 FHLMC | AT COST | 32,828 | 33,455 |
| 56,546 FNMA | AT COST | 56,511 | 57,273 |
| 169,000 FHLMC 2.875% | AT COST | 170,909 | 169,373 |
| 53,018 FNMA | AT COST | 58,518 | 60,902 |
| 20,749 FHLMC | AT COST | 22,315 | 22,608 |
| 31,022 FHLMC | AT COST | 32,825 | 33,128 |
| 10,124 FNMA 5% | AT COST | 10,773 | 10,874 |
| 31,049 FNMA | AT COST | 33,489 | 34,379 |
| 17,062 FHLMC | AT COST | 18,107 | 18,491 |
| 83,513 FNMA | AT COST | 85,901 | 94,955 |
| 41,002 FHLMC | AT COST | 42,886 | 43,360 |
| 10,217 FNMA | AT COST | 11,102 | 11,628 |
| 26,335 FHLMC | AT COST | 27,891 | 28,106 |
| 10,279 FNMA | AT COST | 11,008 | 11,729 |
| 16,301 FNMA | AT COST | 17,325 | 18,561 |
| 44,340 FNMA | AT COST | 46,827 | 46,301 |
| 1,680 FNMA | AT COST | 1,833 | 1,904 |
| 8,379 FNMA | AT COST | 8,896 | 9,506 |
| 13,555 FNMA | AT COST | 14,771 | 15,285 |
| AMER EUROPACIFIC GRTH FD - 17,550 | AT COST | 610,000 | 825,180 |
| AMERICAN CENTURY S.C. FD -14,062 | AT COST | 131,000 | 125,578 |
| ARTISAN MID CAP VALUE FD - 14,675 | AT COST | 207,000 | 361,587 |
| ARTISAN SMALL CAP VALUE FD - 19,066 | AT COST | 247,000 | 269,593 |
| BUFFALO SMALL CAP FD - 11,388 | AT COST | 227,000 | 359,984 |
| 6,099 FNMA | AT COST | 6,160 | 6,584 |
| 21,393 FNMA | AT COST | 22,626 | 22,858 |
| 5,783 FNMA | AT COST | 6,293 | 6,592 |
| ISHARES RUSSELL 1000 FD-- 4,000 | AT COST | 244,640 | 417,600 |
| IVY HIGH INCOME FD - 24,253 | AT COST | 210,033 | 195,725 |
| JP MORGAN MID CAP FD - 3,195 | AT COST | 97,400 | 118,679 |
| MFS RESH INTL FD - 4366.812 | AT COST | 50,000 | 73,319 |
| NATIONWIDE MID CAP FD - 17,087 | AT COST | 414,700 | 462,539 |
| REGIONS SE TIMBER FD - 5,025 | AT COST | 502,500 | 521,671 |
| TEMPLETON GLOBAL BD FD - 32,320 | AT COST | 420,067 | 401,086 |
| THORNBURG INTL VALUE FD - 25213 | AT COST | 605,000 | 691,077 |
| VIRTUS EMERGING MKTS FD - 9,820 | AT COST | 100,000 | 97,114 |
| VIRTUS SMALL CAP FD - 4,625 | AT COST | 100,300 | 118,590 |
| 23,736 FNMA | AT COST | 25,530 | 25,959 |
| 35,725 - FNMA | AT COST | 37,065 | 37,787 |
| Description | Amount |
|---|---|
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| D & O INSURANCE | 3,110 | 0 | 3,110 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| REGIONS SE TIMBER FD II, ORD LOSS | -11,639 | -11,639 | -11,639 |
| REGIONS SE TIMBER FD II, 1231 LOSS | -1,767 | -1,767 | -1,767 |
| Description | Amount |
|---|---|
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| EXCISE TAX PAYMENTS | 35,033 | 0 | 0 |