| Name | Date Acquired | How Acquired | Date Sold | Purchaser Name | Gross Sales Price | Basis | Basis Method | Sales Expenses | Total (net) | Accumulated Depreciation |
|---|---|---|---|---|---|---|---|---|---|---|
| CHENIERE ENERGY PARTNERS, LP | 2013-02 | PURCHASE | 2014-09 | 45,478 | 25,482 | 19,996 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ABIOMED, INC. | 27,742 | 100,698 |
| AKAMAI TECHNOLOGIES INC. | 12,348 | 27,616 |
| ALBEMARLE CORPORATION | 49,091 | 46,612 |
| ALIBABA GROUP HOLDING LTD | 41,546 | 39,170 |
| ALIGN TECHNOLOGY, INC. | 39,897 | 47,025 |
| AMERICAN EXPRESS CO. | 32,471 | 60,848 |
| AMERICAN TOWER CORPORATION | 86,047 | 104,621 |
| AMTRUST FINANCIAL SERVICES, INC. | 40,332 | 82,717 |
| ANNALY CAPITAL MANAGEMENT | 123,461 | 85,570 |
| APPLE, INC. | 31,665 | 67,928 |
| AT&T | 42,370 | 45,996 |
| AVALONBAY COMMUNITIES INC. | 10,625 | 107,713 |
| BABCOCK & WILCOX COMPANY | 8,733 | 11,615 |
| BE AEROSPACE, INC. | 20,733 | 42,232 |
| BECTON DICKINSON CO. | 53,573 | 109,548 |
| BENEFITFOCUS INC | 50,151 | 44,688 |
| BERKSHIRE HATHAWAY CLASS B | 49,962 | 114,192 |
| BIOTECH & GENOME POWERSHARES ETF | 20,950 | 59,477 |
| BLACKROCK S&P 500 STOCK FUND INVESTO | 523,368 | 958,345 |
| BLACKROCK SMALL CAP INDEX A | 319,426 | 501,247 |
| BOSTON PROPERTIES | 69,541 | 98,624 |
| BROWN FORMAN CORP B | 13,053 | 45,532 |
| BWX TECHNOLOGIES INC. | 23,408 | 28,932 |
| CABELAS INCORPORATED | 43,305 | 32,078 |
| CANADIAN NATIONAL RAILWAY COMPANY | 27,016 | 64,927 |
| CHEMOURS CO | 94 | 2,621 |
| CARMAX, INC. | ||
| COCA-COLA | ||
| COLGATE-PALMOLIVE | 24,550 | 50,335 |
| CORE LABORATORIES INC. | 41,507 | 49,334 |
| DEERE & CO. | 46,560 | 71,873 |
| DIAGEO, P.L.C. ADR | 25,775 | 42,678 |
| DIGITAL REALTY TRUST, INC. | 81,251 | 93,192 |
| DIRECTV COMPANY | ||
| DISCOVERY COMMUNICATIONS INC | 40,804 | 42,420 |
| DU PONT E I DE NEMOURS | 1,760 | 66,912 |
| DUKE REALTY CORPORATION | 62,183 | 98,833 |
| EQUITY RESIDENTIAL | 26,425 | 104,734 |
| EXXONMOBIL | 38,617 | 47,526 |
| FASTENAL COMPANY | 40,754 | 41,860 |
| GAMING & LEISURE PROPERTIES, INC. | 93,286 | 83,938 |
| GENMARK DIAGNOSTICS INC | 46,157 | 34,000 |
| GOOGLE, INC CLASS A | 9,498 | 26,300 |
| GOOGLE, INC. CLASS C | 9,498 | 25,024 |
| HARRIS CORPORATION | 34,737 | 68,260 |
| HEALTHCARE SERVICES GROUP | 32,267 | 45,383 |
| HEINEKEN NV ADR | 39,011 | 60,799 |
| HEXCEL CORPORATION | 22,862 | 62,268 |
| IMPRIVATA, INC | 30,345 | 30,400 |
| INTERNATIONAL BUSINESS MACHINE | ||
| INTERSECT ENT INC | 43,929 | 44,505 |
| INVENTURE FOODS, INC | 30,330 | 29,490 |
| INVESCO, LTD. | ||
| ISHARES EMERGING MARKET INDEX FUND | 218,841 | 185,600 |
| IVY INTERNATIONAL CORE EQUITY FUND | 500,072 | 521,966 |
| JM SMUCKER COMPANY | 21,649 | 44,676 |
| K2M GROUP HOLDINGS | 44,827 | 77,792 |
| KIMCO REALTY CORPORATION | 75,797 | 101,311 |
| KITE REALITY GROUP TRUST | 96,849 | 87,120 |
| KLX INC | 8,151 | 17,008 |
| KRISPY KREME DONUT INC. | 71,803 | 74,560 |
| LIBERTY BROADBAND CORP SER A | 3,234 | 4,048 |
| LIBERTY BROADBAND CORP SER C | 29,930 | 31,850 |
| LIBERTY GLOBAL PLC C | 52,424 | 63,882 |
| LIBERTY GLOBAL LILAC CLASS C | 2,649 | 2,767 |
| LIBERTY MEDIA CLASS A | 9,817 | 11,340 |
| LIBERTY MEDIA CLASS C | 30,304 | 33,930 |
| LOEWS CORP. | ||
| M&T BANK CORPORATION | ||
| MACERICH COMPANY | 24,450 | 94,992 |
| MARKEL CORPORATION | 97,052 | 212,650 |
| MASTERCARD, INC. | 27,565 | 97,400 |
| MEDICAL PROPERTIES TRUST, INC. | 74,573 | 95,690 |
| MEDNAX, INC. | 39,103 | 75,330 |
| MORGAN STANLEY CHINA A SHARES FUND | 23,500 | 28,380 |
| MSCI, INC. | 34,553 | 72,999 |
| NESTLE, SA | 58,058 | 75,600 |
| NEWMARKET CORPORATION | 15,708 | 63,236 |
| NOVARTIS AG ADR | 48,373 | 90,263 |
| ON SEMICONDUCTOR CORP | 92,639 | 94,157 |
| PATTERSON-UTI ENERGY INC | 46,254 | 42,861 |
| PENN NATIONAL GAMING, INC. | 50,788 | 59,434 |
| PLUM CREEK TIMBER | ||
| PORTFOLIO RECOVERY ASSOCIATES, INC. | ||
| PRA GROUP INC. | 50,754 | 97,867 |
| PRAXAIR, INC. | 48,521 | 58,211 |
| PRECISION CASTPARTS CORP | 62,428 | 58,476 |
| PROLOGIS | 64,437 | 93,403 |
| QUATERRA RESOURCES, INC. | 23,954 | 3,360 |
| SCHLUMBERGER, LTD. | 77,110 | 82,820 |
| SIMON PROPERTY GROUP INC | 100,391 | 102,971 |
| SIRONA DENTAL SYSTEMS, INC. | 26,331 | 46,701 |
| SL GREEN REALTY CORP | 102,037 | 97,869 |
| STERICYCLE, INC. | 25,108 | 33,833 |
| SUN COMMUNITIES, INC. | 84,412 | 142,496 |
| SUPERIOR ENERGY SERVICES, INC. | 68,477 | 49,759 |
| SYNCHRONOSS TECHNOLOGIES, INC. | 40,212 | 57,360 |
| TELEFEX, INC. | 39,224 | 51,586 |
| TRANSDIGM GROUP, INC | 26,202 | 33,945 |
| TRIMBLE NAVIGATION LTD. | 19,452 | 24,717 |
| ULTRA PETROLEUM CORPORATION | 43,785 | 16,338 |
| URBAN EDGE PROPERTIES | 7,153 | 9,125 |
| UNIVERSAL HEALTH SERVICES CL B | ||
| VALEANT PHARMACEUTICALS INTL INC | 28,732 | 51,506 |
| VANGUARD FTSE EX US INDEX ETF | 212,688 | 314,665 |
| VANGUARD MID-CAP ETF | 249,445 | 399,652 |
| VENTAS, INC. | 74,936 | 79,320 |
| VERISK ANALYTICS, INC. | 28,453 | 46,866 |
| VORNADO REALTY TRUST | 69,795 | 82,918 |
| W. P. CAREY & COMPANY, LLC | 65,191 | 88,726 |
| WILLIAMS SONOMA, INC. | ||
| ZELTIQ AESTHETICS, INC. | 60,703 | 85,875 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| BRAZIL TEAK INVESTORS, LLC. | AT COST | 194,486 | 194,486 |
| LONGLEAF PARTNERS FUND | AT COST | 906,408 | 977,106 |
| LONGLEAF PARTNERS INTERNATIONAL FUND | AT COST | ||
| LONGLEAF PARTNERS SMALLCAP FUND | AT COST | 1,041,205 | 1,101,295 |
| MERIT ENERGY | AT COST | 829,231 | 829,231 |
| VENTRIA | AT COST | 137,000 | 137,000 |
| REACH SYSTEMS | AT COST | ||
| CHENIERE ENERGY | AT COST | ||
| MERIT ENERGY PARTNERS I, LP | AT COST | 23,748 | 23,748 |
| Description | Amount |
|---|---|
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| EXPENSES | ||||
| BANK FEES | 250 | 250 | ||
| INVESTMENT EXPENSES | 35,785 | 35,785 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| FEDERAL TAX REFUND | 4,751 | ||
| MERIT ENERGY PARTNERSHIP | 2,154,726 | 2,154,726 | |
| MERIT ENERGY PARTNERS I, LP | -7 | -7 | |
| BRAZIL TEAK INVESTORS | -911 | -911 | |
| CHENIERE ENERGY PARTNERS, LP | -2,419 | ||
| ORDINARY GAIN FROM SALE | 3,811 |
| Borrower's Name | Relationship to Insider | Original Amount of Loan | Balance Due | Date of Note | Maturity Date | Repayment Terms | Interest Rate | Security Provided by Borrower | Purpose of Loan | Description of Lender Consideration | Consideration FMV |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CLEVELAND BOTANICAL GARDEN 501C3 | NONE | 300,000 | 300,000 | 2013-04 | 2017-04 | ANNUAL INT. TO MATURITY | 3.00 % | NONE | CHARITABLE AND EDUCATIONAL PURPOSES | NONE |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 7,205 | 3,603 | 3,602 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FEDERAL TAX APPLIED | 4,751 | |||
| FEDERAL TAX PAYMENTS | 13,001 | |||
| FEDERAL 990-T TAX PAID | 5,351 | |||
| STATE 1120 TAX PAID | 2,553 |