| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 3,930 | 1,965 | 1,965 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| WINDSTREAM 10/15/2020 7.75% | 0 | 0 |
| DISH NETWORK 05/31/2015 7.75% | 0 | 0 |
| TELEFONICA 06/20/2016 6.421% | 4,835 | 5,113 |
| CAPITAL ONE 9/1/2016 6.15% | 3,445 | 5,152 |
| DCP MIDSTREAM OPERATING 12/01/2017 2.500% | 4,438 | 4,500 |
| TRANSOCEAN 04/15/2018 7.375% | 4,956 | 4,456 |
| RR DONNELLEY 05/15/2018 7.25% | 5,017 | 5,250 |
| CHART INDUSTRIES 08/01/2018 2.00% | 4,375 | 4,325 |
| VULCAN MATERIALS 06/15/2018 7.00% | 0 | 0 |
| POPULAR INC 07/01/2019 7.00% | 4,994 | 4,675 |
| ATWOOD OCEANICS 02/01/2020 6.500% | 4,100 | 2,675 |
| HORNBECK OFFSHORE SERVICES 04/01/2020 5.875% | 4,681 | 3,450 |
| RENT-A-CENTER 11/15/2020 6.625% | 4,894 | 4,238 |
| COPANO ENERGY 04/01/2021 7.125% | 4,993 | 4,990 |
| SUBURBAN PROPANE PARTNERS 08/01/2021 7.375% | 4,844 | 4,800 |
| ENCANA CORPORATION 11/15/2021 3.900% | 4,216 | 4,127 |
| ONEOK INC 02/01/2022 4.250% | 4,300 | 3,600 |
| ARCELORMITTAL 02/25/2022 7.250% | 4,913 | 4,025 |
| ROWAN COMPANIES 06/01/2022 4.875% | 4,128 | 3,677 |
| TRIUMPH GROUP 06/01/2022 5.250% | 4,506 | 4,025 |
| RANGE RESOURCES 08/15/2022 5.00% | 4,400 | 3,738 |
| CONTINENTAL RESOURCES 09/15/2022 5.00% | 4,423 | 3,688 |
| SPRINT CORP 09/15/2021 7.25% | 0 | 0 |
| GULFMARK OFFSHORE INC 03/15/2022 6.375% | 0 | 0 |
| AMKOR TECHNOLOGY INC 10/01/2022 6.375% | 4,675 | 4,863 |
| FRONTIER COMMUNICATIONS 01/15/2023 7.125% | 4,825 | 4,313 |
| NEUSTAR INC 01/15/2023 4.500% | 4,250 | 4,005 |
| CENTURYLINK INC 12/01/2023 6.750% | 4,681 | 4,688 |
| ALCOA INC 10/01/2024 5.125% | 4,181 | 4,550 |
| VANGUARD NATURAL RESOURCES 04/01/2020 7.875% | 0 | 0 |
| ANGLOGOLD ASHANTI 04/15/2020 5.375% | 4,248 | 4,405 |
| WEATHERFORD INTL LTD 09/15/2020 5.125% | 4,519 | 3,950 |
| ELIZABETH ARDEN 03/15/2021 7.375% | 4,475 | 3,200 |
| ACCRUED INTEREST | 0 | 2,089 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| HOLLYFRONTIER | 7,371 | 6,781 |
| MARATHON PETROLEUM | 0 | 0 |
| PHILLIPS 66 | 0 | 0 |
| VALERO ENERGY | 0 | 0 |
| CANADIAN OIL SANDS | 0 | 0 |
| EXXON MOBIL | 11,467 | 12,472 |
| RIO TINTO PIC ADR | 2,008 | 3,028 |
| SINGAPORE I SHARES | 0 | 0 |
| BERKSHIRE HATHAWAY B | 3,125 | 6,602 |
| FRANCO NEVADA | 0 | 0 |
| ANNALY CAPITAL MNGMT INC | 3,513 | 3,471 |
| GOLDMAN SACHS | 0 | 0 |
| PRUDENTIAL FINANCIAL | 3,709 | 3,663 |
| ABERDEEN ASIA-PAC PR INC FD | 3,707 | 2,925 |
| AT&T | 10,678 | 10,667 |
| BANK OF NOVA SCOTIA | 5,076 | 4,448 |
| BCE INC | 3,853 | 3,476 |
| BLACKROCK DEBT STRAT FD INC | 3,515 | 3,134 |
| BLACKROCK LTD DURATION INC | 3,571 | 3,208 |
| CALIFORNIA RES CORP COM | 0 | 0 |
| CAL MAINE FOODS INC | 3,496 | 4,402 |
| CANON INC ADR | 3,519 | 3,465 |
| KINDER MORGAN | 3,530 | 1,343 |
| DIGITAL REALTY TRUST INC | 3,750 | 4,915 |
| OCCIDENTAL PETROLEUM | 0 | 0 |
| EATON VANCE LTD DURATION FD | 3,513 | 3,062 |
| EATON VANCE TAX MG CEF | 0 | 0 |
| EATON VANCE TAX MGD DIV EQU FD | 0 | 0 |
| EOG RESOURCES INC | 0 | 0 |
| FLUOR CORP | 5,018 | 5,194 |
| GEO GROUP INC COM | 3,688 | 3,325 |
| GLAXOSMITHKLINE PLC | 3,738 | 3,228 |
| GLOBAL X CHINA FINANCIALS | 0 | 0 |
| HCP INCORPORATED | 3,933 | 4,015 |
| HOSPITALITY PPTYS TR COM | 3,754 | 3,400 |
| LAS VEGAS SANDS CORPORATION | 0 | 0 |
| LIBERTY PROPERTY TRUST | 3,884 | 3,260 |
| MACY'S INC | 0 | 0 |
| NOW INC | 0 | 0 |
| PACCAR INC | 3,377 | 2,370 |
| PLUM CREEK TIMBER CO INC | 3,656 | 4,295 |
| RANGE RESOURCES | 0 | 0 |
| REALTY INCOME CORP | 3,801 | 4,905 |
| RMR GROUP INC CL A | 24 | 29 |
| SUMITOMO MITSUI FINL GROUP INC | 3,411 | 3,188 |
| SUNCOR ENERGY INC | 0 | 0 |
| TELEFONICA SA ADR | 0 | 0 |
| TOYOTA MOTOR CP ADR | 3,823 | 4,306 |
| VERIZON COMMUNICATIONS | 3,719 | 3,698 |
| W P CAREY INC | 3,863 | 3,540 |
| WAL MART STORES INC | 3,291 | 3,065 |
| WASH REAL EST INV TR MARYLAND | 0 | 0 |
| NORDSTROM | 0 | 0 |
| INTEL | 0 | 0 |
| GENERAL ELECTRIC | 0 | 0 |
| POTASH CP OF SASKATCHEWAN INC. | 3,746 | 2,054 |
| NUCOR CORPORATION | 3,848 | 3,023 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| INCOME TAXED, NOT YET RECEIVED | AT COST | 81 | 81 |
| DORCHESTER MINERALS, LP | AT COST | 1,721 | 1,978 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT ADVISOR FEES | 3,198 | 3,198 | 0 | |
| ROYALTY TAX AND ADMINISTRATION | 54 | 54 | 0 | |
| POSTAGE | 10 | 0 | 10 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| DORCHESTER MINERALS, LP | 218 | 218 | 218 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| STATE FEES | 25 | 0 | 25 | |
| FOREIGN TAX PAID | 147 | 147 | 0 | |
| FEDERAL TAXES | 69 | 0 | 0 |