| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| MILLER MCDONALD, INC. | 6,300 | 0 | 6,300 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| DU PONT E I DE NEMOURS & CO 5.250 12/15/2016 | 73,146 | 77,801 |
| JOHNSON & JOHNSON 5.150 07/15/2018 | 125,100 | 136,687 |
| WACHOVIA BANK NA 5.60% 3/15/16 | 227,071 | 227,273 |
| BRANCH BANKING TR 5.625% 9/15/16 | 101,679 | 102,985 |
| EMERSON ELEC CO 5.125% 12/01/16 | 168,085 | 171,184 |
| BANK NEW YORK INC 5.50% 12/01/17 | 100,734 | 106,858 |
| CISCO SYS INC 5.5% 2/22/16 | 126,860 | 125,797 |
| IBM CORP 5.700% 09/14/2017 | 181,931 | 187,701 |
| GLAXOSMITHKLINE CAP INC 5.650% 05/15/2018 | 151,989 | 163,482 |
| TARGET CORP 5.375 5/1/17 | 149,443 | 158,356 |
| BERKSHIRE HATH 5.4 5/15/18 | 103,330 | 108,541 |
| TARGET CORP 3.875 7/15/10 | 128,494 | 134,311 |
| MORGAN STANLEY 5.5 1/26/2020 | 150,021 | 165,137 |
| KIMBERLY CLARK 3.625 8/01/2020 | 108,256 | 116,401 |
| NORTHERN TRUST CORP 3.45 11/04/2020 | 312,406 | 313,521 |
| ARCHER DANIELS MIDLAND 4.479 3/01/2021 | 160,939 | 162,621 |
| DOVER CORP 4.3 3/01/2021 | 152,877 | 161,612 |
| LLOYDS TSB BANK PLC 6.375 1/21/2021 | 186,286 | 205,499 |
| STATE STREET CORP 2.875 3/7/16 | 273,213 | 260,915 |
| NATIONAL RURAL UTIL COOP 3.050 2/15/2022 | 313,405 | 302,913 |
| HSBC HOLDINGS PLC 4.0 3/30/22 | 310,405 | 314,931 |
| JOHN DEERE CAPITAL CORP MED TERM | 302,700 | 300,474 |
| INTEL CORP 1.35 12/15/2017 | 300,353 | 300,399 |
| PEPSICO INC 2.25 01/07/2013 | 125,543 | 126,679 |
| GENERAL ELEC CO MED TERM 4/15/2023 | 125,000 | 123,373 |
| LOWES COMPANIES INC 3.875 9/15/2023 | 324,661 | 328,101 |
| JPMORGAN CHASE CO 2.6 1/15/16 | 256,135 | 250,105 |
| AIR PRODUCTS CHEMICALS 2.0 8/2/16 | 231,543 | 226,154 |
| CATERPILLAR FINANCIAL SE 1.0 3/3/17 | 184,710 | 184,537 |
| GENERAL ELEC CAP CORP 2.3 1/14/19 | 152,762 | 151,453 |
| BERKSHIRE HATHAWAY INC 3.0 2/11/23 | 151,800 | 152,832 |
| COMCAST CORP 3.6 3/1/24 | 314,472 | 310,092 |
| US TREASURY NOTE 2.5 5/15/24 | 645,512 | 664,196 |
| MORGAN STANLEY 3.8 4/29/2016 | 101,624 | 100,847 |
| PNC BANK NA 1.15 11/01/2016 | 175,320 | 175,019 |
| UNITEDHEALTH GROUP INCORPORATED 1.875 11/15/16 | 151,191 | 151,205 |
| PACCAR FINANCIAL CORP 1.1 6/6/17 | 135,026 | 134,317 |
| COSTCO WHOLESALE CORP 1.125 12/15/17 | 225,166 | 224,802 |
| UNITEDHEALTH GROUP INC 1.4 12/15/17 | 100,604 | 99,706 |
| EXXON MOBIL CORP 2.709 3/6/2025 | 200,671 | 195,568 |
| PRECISION CASTPARTS CORP 3.25 6/15/25 | 248,563 | 248,368 |
| SIMON PROPERTY GROUP 3.5 9/1/25 | 247,827 | 253,108 |
| BANK OF MONTREAL 2.55 11/6/22 | 250,010 | 246,880 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| PRAXAIR INC | 70,739 | 159,642 |
| EXXON MOBIL CORP | 434,519 | 400,351 |
| ALTRIA GROUP INC | 90,785 | 334,649 |
| PFIZER INC | 494,493 | 798,059 |
| INTEL CORP | 140,071 | 309,327 |
| MICROSOFT CORP | 375,067 | 779,161 |
| GENERAL DYNAMICS CORP | 99,569 | 278,154 |
| GENERAL ELEC CO | 422,847 | 721,216 |
| JOHNSON & JOHNSON | 111,180 | 398,656 |
| HASBRO INC | 110,881 | 239,195 |
| UNILEVER NV ADR | 164,066 | 228,513 |
| PPG INDS INC | 84,061 | 216,515 |
| ANADARKO PETROLEUM CORP | 173,723 | 107,702 |
| CHEVRON CORPORATION | 474,055 | 698,809 |
| CONOCOPHILLIPS | 365,788 | 405,970 |
| BANKUNITED INC | 125,785 | 178,281 |
| CAPITAL ONE FINANCIAL CORP | 346,510 | 412,220 |
| DOW CHEM CO | 147,989 | 265,534 |
| OCCIDENTAL PETROLEUM CORPORATION | 531,856 | 462,452 |
| UNITED HEALTH GROUP INCORPORATED | 172,747 | 379,624 |
| GLAXO SMITHKLINE PLC ADR | 182,571 | 187,708 |
| BANK OF AMERICA CORP | 687,594 | 718,422 |
| BEST BUY CO INC | 189,860 | 235,561 |
| CITIGROUP INC | 521,800 | 670,990 |
| SUNTRUST BKS INC | 249,863 | 357,071 |
| CARNIVAL CORP | 172,079 | 282,915 |
| EATON CORP PLC | 232,000 | 238,343 |
| APPLE INC | 149,338 | 240,203 |
| C M S ENERGY CORP | 237,297 | 280,233 |
| CA INC | 220,117 | 247,415 |
| POLARIS INDS INC | 211,910 | 180,581 |
| STAPLES INC | 217,669 | 167,553 |
| CVS HEALTH CORPORATION | 275,242 | 288,519 |
| HARTFORD FINANCIAL SERVICES GRP INC | 400,237 | 464,674 |
| PITNEY BOWES INC | 249,182 | 222,401 |
| SIX FLAGS ENTERTAINMENT | 125,088 | 190,916 |
| SIGNET JEWELERS LTD | 141,670 | 163,642 |
| TEVA PHARMACEUTICAL INDS | 265,496 | 342,444 |
| ABBOTT LABORATORIES | 278,036 | 303,322 |
| ABBVIE INC | 236,763 | 243,832 |
| AMERIPRISE FINL INC | 347,039 | 312,981 |
| AT&T INC | 401,412 | 407,827 |
| CIGNA CORP | 193,031 | 230,763 |
| CISCO SYSTEMS INC | 621,866 | 604,688 |
| D T E ENERGY CO | 261,687 | 261,099 |
| DISCOVER FINL SVCS | 230,448 | 219,199 |
| EVERBANK FINANCIAL CORP | 175,392 | 158,745 |
| FRONTIER COMMUNICATIONS CORP | 299,163 | 249,826 |
| GENERAL MILLS INC | 250,079 | 253,416 |
| LAM RESEARCH CORP | 226,412 | 246,837 |
| MATTEL INC | 201,670 | 223,093 |
| MCDONALDS CORP | 210,807 | 212,298 |
| MOODYS CORP | 255,721 | 276,838 |
| NEXTERA ENERGY INC | 337,842 | 346,369 |
| NISOURCE INC | 209,788 | 226,862 |
| OLD REPUBLIC | 169,403 | 187,977 |
| PACWEST BANCORP | 186,370 | 171,711 |
| PIONEER NAT RES CO | 369,565 | 372,003 |
| QUALCOMM INC | 215,735 | 225,032 |
| TARGET CORP | 188,961 | 191,908 |
| VALERO ENERGY CORP | 125,852 | 140,784 |
| CAMBIAR INTL EQUITY FUND INS | 50,000 | 50,000 |
| FIDELITY INVT TRAD INTL DISCI | 125,000 | 125,000 |
| INVESCO LTD | 289,059 | 287,426 |
| MEDTRONIC PLC | 483,088 | 493,980 |
| SCHLUMBERGER LTD | 191,383 | 173,259 |
| T ROWE PRICE INTL GR&INC FD | 125,000 | 125,000 |
| BARON EMERGING MARKETS INSTITUTIONAL | 40,000 | 40,000 |
| CAUSEWAY EMERGING MARKETS INSTL | 40,000 | 40,000 |
| CROWN CASTLE INTL CORP | 300,963 | 307,416 |
| LAMAR ADVERTISING CO A | 272,438 | 305,418 |
| MID-AMER APT CMNTYS INC | 70,330 | 163,095 |
| STARWOOD PROPERTY TRUST INC | 230,707 | 230,231 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ADMINISTRATIVE EXPENSES | 10,200 | 0 | 10,200 | |
| INSURANCE | 2,515 | 0 | 2,515 | |
| TELEPHONE | 1,096 | 0 | 1,096 | |
| OFFICE SUPPLIES | 1,028 | 0 | 1,028 | |
| DUES & SUBSCRIPTIONS | 750 | 0 | 750 | |
| NONDEDUCTIBLE EXP FROM K-1 | 26 | 0 | 0 | |
| MISCELLANEOUS | 99 | 0 | 99 | |
| NET ORDINARY LOSS FROM K-1 | 14,937 | 14,937 | 0 | |
| WEB SITE HOSTING & DESIGN | 2,322 | 0 | 2,322 | |
| COMPUTER/SIGN/MOVING EXP | 4,202 | 0 | 4,202 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| MISCELLANEOUS INCOME | 110,284 | 110,284 | 110,284 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT ADVISORY FEES | 135,628 | 122,065 | 13,563 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| EXCISE TAXES | 60,575 | 0 | 0 | |
| FOREIGN TAXES | 3,697 | 3,697 | 0 |