| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| TAX, AUDIT & ACCOUNTING FEES | 28,843 | 18,262 | 10,581 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AMG#7243 - BLACKROCK STRATEGIC INCOME OPPORTUNITIES | 48 | 47 |
| AMG#7243 - ISHARES COHEN & STEERS RLTY | 12,791 | 11,088 |
| AMG#7243 - TROWE ROWE PRICE MID-CAP GROWTH #64 | 15,728 | 18,603 |
| AMG#7243 - TROWE ROWE PRICE MIDCAP VALE #115 | 13,445 | 14,793 |
| AMG#7243 - AMG NATIONAL TRUST BANK SWEEP | 31,124 | 31,124 |
| AMG#7261 - ADTALEM GLOBAL EDUCATION INC | 1,752 | 3,522 |
| AMG#7261 - ALLEGHANY CORP | 4,095 | 8,045 |
| AMG#7261 - AMERICAN RAILCAR INDUSTRIES | 6,549 | 6,755 |
| AMG#7261 - BOSTON BEER COMPANY INC CL A | 6,805 | 11,432 |
| AMG#7261 - CABOT MICROELECTRONICS CORP | 2,141 | 6,696 |
| AMG#7261 - CACI INTERNATIONAL INC CLASS A | 2,591 | 6,344 |
| AMG#7261 - CATO CORP-CL A | 10,872 | 9,078 |
| AMG#7221 - CHEMOURS CO | 3,607 | 8,423 |
| AMG#7261 - COLUMBIA BANKING SYSTEM INC | 5,252 | 7,881 |
| AMG#7261 - DIEBOLD INC | 8,561 | 4,866 |
| AMG#7261 - EMCOR GROUP INC COMMON STOCK | 1,863 | 7,433 |
| AMG#7261 - FAIR ISAAC CORPORATION COM | 907 | 4,503 |
| AMG#7261 - FOOT LOCKER INC. | 5,022 | 5,945 |
| AMG#7261 - GREIF INC. CL A | 5,836 | 7,900 |
| AMG#7261 - HAEMONETICS CORP/MASS | 2,591 | 5,853 |
| AMG#7261 - HAYLARD HEALTH INC | 5,038 | 7,153 |
| AMG#7261 - KIRBY CORP | 6,350 | 8,786 |
| AMG#7261 - MANTECH INTERNATIONAL CORP-A | 5,132 | 8,745 |
| AMG#7261 - MCDERMOTT INTL INC | 5,455 | 5,168 |
| AMG#7261 - OAKTREE CAPITAL GROUP LLC | 8,809 | 7,347 |
| AMG#7261 - ORBITAL ATK INC | 4,910 | 12,047 |
| AMG#7261 - PARSLEY ENERGY INC CL A | 3,834 | 5,105 |
| AMG#7261 - PATTERSON-UTI ENERGY INC | 3,758 | 3,984 |
| AMG#7261 - PERKINELMER INC | 2,103 | 6,602 |
| AMG#7261 - PHYSICIANS REALTY TRUST | 6,177 | 5,498 |
| AMG#7261 - POWELL INDUSTRIES INC | 7,591 | 7,032 |
| AMG#7261 - RAYONIER ADVANCED MATERIALS | 3,651 | 4,002 |
| AMG#7261 - RAYONIER INC | 6,862 | 9,446 |
| AMG#7261 - REGAL BELOIT CORPORATION | 6,705 | 6,408 |
| AMG#7261 - SCANSOURCE INC | 4,381 | 5,385 |
| AMG#7261 - SEALED AIR CORP | 5,090 | 7,104 |
| AMG#7261 - SM ENERGY CO | 8,666 | 6,969 |
| AMG#7261 - SOUTHWESTERN ENERGY CO | 7,554 | 4,805 |
| AMG#7261 - STIFEL CORPORATION | 5,558 | 9,733 |
| AMG#7261 - SUPERIOR ENERGY SERVICES INC | 10,544 | 8,241 |
| AMG#7261 - SYNAPTICS INC | 6,614 | 7,355 |
| AMG#7261 - SYNEO HEALTH INC | 7,015 | 7,315 |
| AMG#7261 - TITAN MACHINERY INC | 6,912 | 7,013 |
| AMG#7261 - TREDEGAR CORP | 6,819 | 6,670 |
| AMG#7261 - UMB FINANCIAL CORP | 6,494 | 9,036 |
| AMG#7261 - UMPQUA HOLDINGS CORP | 5,731 | 11,003 |
| AMG#7261 - UNION BANKSHARES CORP | 3,067 | 8,318 |
| AMG#7261 - US SILICA HOLDINGS INC | 9,612 | 7,558 |
| AMG#7261 - WEX INC | 2,462 | 5,505 |
| AMG#7261 - WEATHERFORD INTERNATIONAL PLC | 8,711 | 6,222 |
| AMG#7261 - STERIS PLC | 1,309 | 3,875 |
| AMG#7261 - AMG NATIONAL TRUST BANK SWEEP | 45,881 | 45,881 |
| AMG#8650 - ISHARES HEDGED MSCI GERMANY | 86,657 | 87,018 |
| AMG#8650 - ISHARES MSCI AUSTRALIA ETF | 47,910 | 45,112 |
| AMG#8650 - ISHARES MSCI BELGIUM | 63,653 | 64,823 |
| AMG#8650 - ISHARES MSCI SWITZERLAND IND | 102,543 | 105,013 |
| AMG#8650 - ISHARES MSCI SWEDEN CAPPED ETF | 33,564 | 36,825 |
| AMG#8650 - ISHARES MSCI JAPAN ETF | 115,315 | 135,652 |
| AMG#8650 - ISHARES MSCI NORWAY CAPPED | 97,250 | 119,421 |
| AMG#8650 - ISHARES MSCI UNITED KINGDOM ETF | 36,687 | 36,794 |
| AMG#8650 - ISHARES MSCO NEW ZEALAND CAP | 76,924 | 81,246 |
| AMG#8650 - VANECK VECTORS EGYPT INDEX E | 16,079 | 24,864 |
| AMG#8650 - AMG NATIONAL TRUST BANK SWEEP | 61,473 | 61,473 |
| AMG#3779 - ABBVIE INC | 15,211 | 21,338 |
| AMG#3779 - ANHEUSER-BUSCH INBEV SPN ADR | 10,227 | 9,508 |
| AMG#3779 - AUSTRALIA & N ZEA BKG CP SPONSORED ADR | 5,518 | 5,106 |
| AMG#3779 - BANK OF AMERICA CORP | 11,048 | 14,601 |
| AMG#3779 - BB&T CORP | 11,271 | 14,045 |
| AMG#3779 - BNP PARIBAS ADR | 5,932 | 5,875 |
| AMG#3779 - BP AMOCO PLC | 8,558 | 10,746 |
| AMG#3779 - BRITISH AMERN TOB PLC | 5,437 | 5,407 |
| AMG#3779 - CISCO SYSTEMS INC | 5,528 | 7,751 |
| AMG#3779 - CITIGROUP INC | 13,174 | 14,473 |
| AMG#3779 - CREDIT SUISSE GROUP ADR | 12,870 | 15,445 |
| AMG#3779 - DIEBOLD INC. | 8,067 | 4,620 |
| AMG#3779 - EATON CORP PLC | 11,071 | 11,104 |
| AMG#3779 - ENEL SPA UNSPON ADR | 8,159 | 9,598 |
| AMG#3779 - ENI S P A SPONSORED ADR | 13,842 | 17,196 |
| AMG#3779 - ERSTE BANK DER OSTERRECHISCHEN SPARKASSEN AG | 13,073 | 17,266 |
| AMG#3779 - GLAXO SMITHKLINE PLC ADR | 15,288 | 13,958 |
| AMG#3779 - HP INC | 6,727 | 7,865 |
| AMG#3779 - IBM CORP | 7,154 | 6,813 |
| AMG#3779 - ING GROEP N V SPONSORED ADR | 15,479 | 15,279 |
| AMG#3779 - INTEL CORP | 9,605 | 13,628 |
| AMG#3779 - INTESA SANPAOLO ADR | 11,930 | 15,814 |
| AMG#3779 - JPMORGAN CHASE & CO | 11,820 | 15,338 |
| AMG#3779 - KONINKLIJKE PHILPS ELECTRIC N.V. | 14,679 | 17,521 |
| AMG#3779 - KRAFT HEINZ CO | 15,914 | 13,757 |
| AMG#3779 - LAS VEGAS SANDS CORP | 12,500 | 14,446 |
| AMG#3779 - NOKIA CORPORATION | 16,386 | 14,989 |
| AMG#3779 - OAKTREE CAPITAL GROUP LLC | 9,661 | 8,137 |
| AMG#3779 - OCCIDENTAL PETROLEUM CORP COMMON STOCK | 16,408 | 18,620 |
| AMG#3779 - ORANGE SPON ADR | 14,323 | 15,479 |
| AMG#3779 - PHILIP MORRIS INTERNATIONAL | 18,573 | 15,498 |
| AMG#3779 - QUALCOMM INC | 12,326 | 10,967 |
| AMG#3779 - ROYAL DUTCH SHELL PLC-ADR A | 11,233 | 14,120 |
| AMG#3779 - SANOFI -ADR | 20,030 | 16,908 |
| AMG#3779 - TARGET CORP | 11,194 | 15,391 |
| AMG#3779 - TECHNIPFMC PLC | 15,536 | 18,425 |
| AMG#3779 - TOTAL SA-SPON ADR | 8,999 | 11,019 |
| AMG#3779 - YARA INTERNATIONAL-ADR | 13,987 | 15,995 |
| AMG#3779 - AMG NATIONAL TRUST BANK SWEEP | 23,226 | 23,226 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| APEX HEDGE FUND PARTNERSHIP INVESTMENT | FMV | 404,905 | 300,761 |
| ASCENT SMALL CAP HEDGE FUND PARTNERSHIP INVESTMENT | FMV | 265,069 | 266,339 |
| ZENITH TECHNOLOGY HEDGE FUND PARTNERSHIP INVESTMENT | FMV | 113,532 | 151,878 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FEES & LICENSES | 380 | 190 | 190 | |
| FOUNDATION EXPENSE | 1,134 | 567 | 567 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| NET INCOME(LOSS) FROM APEX HEDGE FUND LLLP | 65,310 | 65,310 | 65,310 |
| NET INCOME(LOSS) FROM ASCENT SMALL CAP HEDGE FUND LLLP | -2,541 | -2,541 | -2,541 |
| OTHER ROYALTY INCOME | 215 | 215 | 215 |
| NET INCOME(LOSS) FROM ZENITH TECHNOLOGY HEDGE FUND LLLP | 9,091 | 9,091 | 9,091 |
| 2016 FORM 990-PF EXCISE TAX REFUND | 13,460 | 13,460 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT FEES | 26,843 | 26,843 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAX EXPENSE | 668 | 668 | 0 |