| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING | 3,250 | 812 | 0 | 2,438 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ABBVIE NOTE | 24,950 | 24,726 |
| AMAZON.COM NOTE | 10,139 | 10,294 |
| AMERICAN EXPR CR CORP MEDIUM TERM NOTE | 25,278 | 25,312 |
| AMERICAN HONDA FIN CORP MEDIUM TERM NOTE | 25,136 | 25,173 |
| AMGEN INC SR NOTE | 25,123 | 25,154 |
| AT&T INC GLBL NOTE | 20,040 | 20,019 |
| BANK AMER CORP MEDIUM TERM NOTE | 20,218 | 20,044 |
| BECTON DICKINSON & CO NOTE | 20,624 | 20,306 |
| BLACKROCK INC. NOTE | 10,161 | 10,233 |
| CAPITAL ONE FINL CORP SR NOTE | 20,231 | 20,184 |
| GENL ELEC CAP CORP MEDIUM TERM NOTE | 25,864 | 27,580 |
| GOLDMAN SACHS GROUP INC SR NOTE | 20,315 | 20,390 |
| HEWLETT PACKARD CO GLBL NOTE | 0 | 0 |
| VERIZON COMMNS INC NOTE | 10,252 | 10,180 |
| WELLS FARGO & CO MEDIUM TERM SR NOTE | 25,309 | 25,348 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 3M COMPANY | 24,444 | 31,634 |
| ACCENTURE | 9,568 | 9,928 |
| AFLAC INC | 0 | 0 |
| AIA GROUP LTD SPON ADR | 10,205 | 13,378 |
| AIR LIQUIDE ADR | 9,721 | 9,264 |
| ALCOA INC | 0 | 0 |
| ALLIANZ SE SPONSORED ADR REPSTG 1/10 SH | 9,681 | 11,013 |
| ALPHABET INC. | 9,373 | 10,758 |
| ALTRIA GROUP INC | 19,524 | 30,851 |
| AMAZON.COM INC | 15,246 | 26,360 |
| AMERICAN AIRLINES GROUP INC | 17,938 | 23,716 |
| AMERISOURCE BERGEN | 8,625 | 7,778 |
| AMERICAN TOWER CORP NEW* | 32,894 | 38,780 |
| AMGEN INC. | 5,776 | 5,682 |
| ANHEUSER BUSCH INBEV SA/NV | 11,170 | 13,125 |
| ANHEUSER BUSCH INBEV SA/NV | 22,014 | 30,625 |
| ANTHEM INC | 5,445 | 4,880 |
| APPLE INC. | 5,944 | 4,737 |
| ARCHER DANIELS MIDLAND COMPANY | 23,581 | 23,659 |
| ARM HOLDINGS PLC SPONSORED ADR | 8,764 | 9,274 |
| ATLAS COPCO AB SPON ADR REPSTG COM SER A | 5,269 | 5,006 |
| AUTOMATIC DATA PROCESSING INC | 0 | 0 |
| BAIDU INC SPONSORED ADR REPS | 8,358 | 9,452 |
| BANCO BILBAO VIZCAYA ARGENTARIA S A SPO | 4,510 | 3,885 |
| BAYERISCHE MOTOREN WERKE A G ADR | 6,957 | 7,322 |
| BERKSHIRE HATHAWAY | 10,116 | 9,243 |
| BG GROUP PLC ADR FINAL INSTALLM | 9,293 | 7,768 |
| BLOCK H & R INC | 0 | 0 |
| BROOKFIELD ASSET MANAGEMENT INC | 36,775 | 41,052 |
| BUNGE LIMITED | 7,546 | 7,169 |
| CABELAS INC | 0 | 0 |
| CANADIAN NATIONAL RAILWAY COMPANY | 6,123 | 6,706 |
| CAPITAL ONE FINANCIAL CORP | 43,459 | 40,060 |
| CAPITAL ONE FINANCIAL CORP | 42,991 | 42,947 |
| CARMAX INC | 32,745 | 32,652 |
| CELGENE CORP | 10,799 | 9,581 |
| CHECKPOINT SOFTWARE | 5,835 | 5,697 |
| CHEVRON CORP | 23,176 | 25,639 |
| CHURCH & DWIGHT COMPANY INC | 14,402 | 19,947 |
| CISCO SYSTEMS INC | 30,449 | 32,314 |
| CITIGROUP INC NEW | 41,712 | 43,729 |
| CLAYMORE GUGGENHEIM BULLETSHARES 2017 | 0 | 0 |
| CME GROUP INC. | 9,512 | 8,607 |
| COCA-COLA COMPANY | 29,546 | 36,086 |
| COLFAX CORP | 41,527 | 20,198 |
| COLOPLAST AS ADR | 1,555 | 1,783 |
| CSL LTD SPONSORED ADR | 5,359 | 6,893 |
| DANAHER CORP | 11,908 | 12,539 |
| DASSAULT SYSTEMES S A SPONSORED ADR | 13,046 | 15,629 |
| DBS GROUP HLDGS LTD SPONS ADR | 4,993 | 4,436 |
| DEUTSCHE X TRACKERS HARVEST CSI 300 CH | 0 | 0 |
| DIAGEO PLC NEW SPONSORED ADR | 34,168 | 30,540 |
| DISCOVERY COMMUNICATIONSINC NEW SERIES A | 16,034 | 11,447 |
| DISCOVERY COMMUNICATIONSINC NEW SERIES C | 40,984 | 31,399 |
| DISH NETWORK | 5,331 | 4,574 |
| DOLLAR TREE INC. | 26,532 | 27,027 |
| DOMINION RESOURCES INC VA NEW | 27,075 | 29,085 |
| EASTMAN CHEMICAL COMPANY | 36,582 | 32,742 |
| EATON CORP PLC | 28,699 | 22,637 |
| EQUITY LIFESTYLE PROPERTIES INC | 22,487 | 42,002 |
| EXPRESS SCRIPTS | 5,975 | 5,682 |
| EXXON MOBIL CORP | 38,802 | 38,585 |
| FAIRFAX FINANCIAL HOLDING PLC SUB VO | 15,668 | 16,956 |
| FANUC CORP ADR | 9,247 | 10,514 |
| FIDELITY NATIONAL FINANCIAL INC NEW | 6,551 | 10,921 |
| FIDELITY NATIONAL FINANCIAL INC NEW | 27,081 | 40,564 |
| FRESENIUS MEDICAL CARE AG & CO KGAA | 4,738 | 6,067 |
| FUCHS PETROLUB SE ADR | 3,354 | 3,033 |
| GAMING & LEISURE PPTYS INC | 45,231 | 33,138 |
| GAMING & LEISURE PPTYS INC | 37,485 | 26,688 |
| GENERAL ELECTRIC COMPANY | 35,717 | 51,865 |
| GENESEE & WYO INC. | 18,027 | 13,691 |
| GRIFOLS A SPON ADR | 3,334 | 3,078 |
| HANESBRANDS INC | 10,502 | 19,718 |
| HARTFORD FINANCIAL SERVICES GROUP INC | 0 | 0 |
| HERSHEY COMPANY | 5,029 | 4,910 |
| HEWLETT-PACKARD COMPANY | 0 | 0 |
| HONG KONG EXCHANGES & CLEARING LIMITED A | 0 | 0 |
| ICICI BANK LIMITED SPONSORED ADR | 5,887 | 6,460 |
| ILLINOIS TOOL WORKS INC | 20,481 | 25,950 |
| IMPERIAL OIL LTD NEW | 4,029 | 3,089 |
| INTUIT INC | 12,482 | 18,818 |
| ISHARES 1-3 YR CREDIT BOND | 0 | 0 |
| ISHARES 7-10 YR CREDIT BOND | 18,752 | 18,478 |
| ISHARES INTERMEDIATE CREDI | 16,505 | 16,092 |
| ISHARES INTERMEDIATE GOVERN | 69,740 | 69,054 |
| ISHARES US TRUST SHORT | 15,020 | 15,006 |
| ISHARES TECHNOLOGY ETF | 0 | 0 |
| ISHARES U S FINANCIALS ETF | 0 | 0 |
| ISHARES U S UTILITIES ETF | 0 | 0 |
| ISHARES FLOATING RATE BOND ETF | 0 | 0 |
| ITAU UNIBANCO HOLDING SA SPONSORED ADR | 6,815 | 4,635 |
| JGC CORP ADR | 9,718 | 3,973 |
| JOHNSON & JOHNSON | 48,764 | 61,529 |
| JPMORGAN CHASE & COMPANY | 40,658 | 57,116 |
| KINDER MORGAN INC DE | 0 | 0 |
| KONE OY J ADR | 4,859 | 4,412 |
| KRISPY KREME DOUGHNUT INC | 0 | 0 |
| L OREAL COMPANY ADR | 8,814 | 8,775 |
| LAMAR ADVERTISING *COMPANY NEW CL A | 31,594 | 35,988 |
| LAS VEGAS SANDS CORP | 31,536 | 26,085 |
| LKQ CORP | 15,862 | 18,222 |
| LIBERTY BROADBANK CORP | 30,302 | 30,490 |
| LINDE AG SPONSORED ADR LEVEL 1 | 3,737 | 2,885 |
| LIVE NATION ENTERTAINMENT INC. | 19,353 | 18,796 |
| LVMH MOET HENNESSY LOUISVUITTON ADR | 3,765 | 3,464 |
| MARATHON PETROLEUM CORP | 0 | 0 |
| MARKEL CORP | 29,301 | 38,867 |
| MARKEL CORP | 30,240 | 50,351 |
| MCDONALDS CORP | 26,330 | 32,016 |
| MERCK & COMPANY INC NEW | 37,479 | 38,295 |
| MICROSOFT | 25,529 | 32,178 |
| MITSUBISHI ESTATE LTD ADR | 5,196 | 3,632 |
| MONDELEZ INTERNATIONAL | 6,487 | 6,950 |
| MONOTARO CO LTD OSAKA ADR | 1,725 | 4,169 |
| MONSANTO COMPANY | 7,806 | 7,389 |
| MORGAN STANLEY *CHINA A SHARES FUN | 0 | 0 |
| MTN GROUP LTD SPONSORED ADR | 5,812 | 2,541 |
| NASPERS LTD | 4,044 | 4,091 |
| NESTLE S A SPNSD ADR REPSTING REG SHS | 20,945 | 21,954 |
| NOVO NORDISK AS ADR | 3,926 | 6,970 |
| NRG ENERGY INC NEW | 51,137 | 26,953 |
| NUCOR CORP | 22,757 | 19,143 |
| OCCIDENTAL PETROLEUM CORP | 39,934 | 32,791 |
| PALL CORP | 0 | 0 |
| PARKER-HANNIFIN CORP | 5,103 | 4,364 |
| PENN NATIONAL GAMING INC | 0 | 0 |
| PENN NATIONAL GAMING INC | 7,049 | 10,125 |
| PEPSICO INC | 35,112 | 39,968 |
| PERRIGO COMPANY | 5,953 | 5,788 |
| PHILIP MORRIS INTL INC | 33,491 | 34,724 |
| POTASH CORP OF SASKATCHEWAN IN | 32,903 | 19,346 |
| PRA GROUP INC | 19,741 | 13,356 |
| PRAXAIR INC. | 5,266 | 4,608 |
| PRICELINE GROUP | 8,729 | 8,925 |
| PROCTER & GAMBLE COMPANY | 25,866 | 25,411 |
| PVH CORP | 8,551 | 5,524 |
| RALPH LAUREN CORP | 25,520 | 20,735 |
| RAYTHEON COMPANY NEW | 16,723 | 29,887 |
| REGIONS FINANCILAL CORP NEW | 34,793 | 32,208 |
| ROCHE HOLDING LIMITED SPONSORED ADR | 11,318 | 12,409 |
| SANDS CHINA LTD | 8,387 | 4,075 |
| SANOFI SPON ADR | 28,427 | 27,509 |
| SAP SE SPONS ADR | 10,311 | 11,074 |
| SASOL LTD SPONS ADR | 4,829 | 3,353 |
| SCHEIN HENRY INC | 9,863 | 15,028 |
| SCHLUMBERGER LTD | 16,462 | 13,950 |
| SCHNEIDER ELECTRIC SE ADR | 0 | 0 |
| SECTOR CONSUMER DISCRETIONARY SELE | 0 | 0 |
| SECTOR CONSUMER STAPLES SELECT SECTOR SPDR | 0 | 0 |
| SHIRE PHARMACEUTICAL SPONS ADR | 0 | 0 |
| SIX FLAGS ENTERTAINMENT CORP NEW | 22,025 | 34,338 |
| SMUCKER JM COMPANY NEW | 7,025 | 8,017 |
| SONOVA HOLDINGS AG ADR | 3,255 | 3,669 |
| SPECTRA ENERGY CORP | 24,496 | 24,658 |
| SPDR EURO STOXX 50 ETF | 45,678 | 44,070 |
| STARBUCKS | 7,050 | 7,504 |
| SUN COMMUNITIES INC * | 0 | 0 |
| SUN COMMUNITIES INC * | 24,350 | 35,293 |
| SVENSKA HANDELSBANKEN AB | 3,557 | 3,168 |
| SWATCH GROUP AG | 0 | 0 |
| SYMRISE AG ADR | 3,759 | 4,531 |
| SYSMEX CORP ADR | 5,162 | 10,013 |
| TAIWAN SEMICONDUCTOR MANUFACTURING COMP | 10,293 | 14,333 |
| TELUS CORP | 0 | 0 |
| TEVA PHARMACEUTICAL INDSLTD ADR | 25,870 | 42,010 |
| TIME WARNER INC. NEW | 35,630 | 28,649 |
| TRIP ADVISOR INC. | 11,591 | 11,934 |
| TURKIYE GARANTI BANKASI A S SPONSORED ADR | 6,006 | 3,403 |
| UNICHARM CORP SPONSORED ADR | 7,116 | 7,518 |
| UNILEVER PLC SPONSORED ADR NEW | 5,801 | 5,821 |
| UNION PACIFIC GROUP | 7,738 | 6,256 |
| VERIZON COMMUNICATIONS INC | 32,154 | 29,119 |
| VISA INC. | 8,318 | 8,918 |
| W P CAREY INC | 51,010 | 45,430 |
| WABCO HOLDINGS INC | 16,741 | 17,384 |
| WADDELL & REED FINANCIALINC CL A | 0 | 0 |
| WALT DISNEY | 7,164 | 6,305 |
| WAL-MART STORES INC | 0 | 0 |
| WATSCO INC A | 9,009 | 11,127 |
| WATSCO INC A | 35,214 | 44,509 |
| WELLS FARGO & CO NEW | 36,782 | 54,088 |
| WPP PLC NEW ADR | 10,065 | 12,621 |
| XINYI GLASS HLDGS LTD ADS REPSTG 20 SHS | 0 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL | 8,350 | 0 | 0 | 8,350 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| PREPAID EXCISE TAX | 2,402 | 2,617 | 2,617 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INSURANCE | 1,878 | 0 | 0 | 1,878 |
| REGISTRATION | 50 | 0 | 0 | 50 |
| PO BOX | 100 | 0 | 0 | 100 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT MANAGEMENT FEES | 29,421 | 29,421 | 0 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| REAL ESTATE TAXES | 1,195 | 0 | 0 | 0 |
| US TREASURY | 1,101 | 0 | 0 | 0 |
| FOREIGN INCOME | 2,776 | 2,776 | 0 | 0 |