TY 2018 Form 990PF

- TIN:

Form990-PF
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Department of the Treasury
Internal Revenue Service

Return of Private Foundation

or Section 4947(a)(1) Trust Treated as Private Foundation

Do not enter social security numbers on this form as it may be made public.
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Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0052

2018

Open to Public Inspection

For calendar year 2018, or tax year beginning 01-01-2018 , and ending 12-31-2018

Name of foundation
STUART G & J CHAR TUA-MAIN

Number and street (or P.O. box number if mail is not delivered to street address)6325 S RAINBOW BLVD STE 300
Room/suite

City or town, state or province, country, and ZIP or foreign postal code
LAS VEGAS, NV89118

A Employer identification number

27-0522116

B Telephone number (see instructions)

(888) 730-4933

C If exemption application is pending, check here bullet

G Check all that apply: Initial returnInitial return of a former public charity
Final returnAmended return
Address change Name change

D 1. Foreign organizations, check here............. bullet

2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet

E If private foundation status was terminated
under section 507(b)(1)(A), check here ....... bullet

H Check type of organization: Section 501(c)(3) exempt private foundation
Section 4947(a)(1) nonexempt charitable trust Other taxable private foundation

F If the foundation is in a 60-month termination
under section 507(b)(1)(B), check here ....... bullet

I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16) bullet

$10,014,819J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

	Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).)	(a) Revenue and expenses per books		(b) Net investment income	(c) Adjusted net income	(d) Disbursements for charitable purposes (cash basis only)


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	261,784		249,414
5a	Gross rents............	50,339		50,339	0
b	Net rental income or (loss) 4,818
6a	Net gain or (loss) from sale of assets not on line 10		2,484,889
b	Gross sales price for all assets on line 6a 8,726,651
7	Capital gain net income (from Part IV, line 2)...			2,484,889
8	Net short-term capital gain.........				0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......		161
12	Total. Add lines 1 through 11........	2,797,173		2,784,642	0
13	Compensation of officers, directors, trustees, etc.	116,371		69,053		47,318
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......		1,159	0	0	1,159
c	Other professional fees (attach schedule)....		9,146			9,146
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		15,494	6,460		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......		195,867	195,857		10
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	338,037		271,370	0	57,633
25	Contributions, gifts, grants paid.......	405,000				405,000
26	Total expenses and disbursements. Add lines 24 and 25	743,037		271,370	0	462,633
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	2,054,136
b	Net investment income (if negative, enter -0-)			2,513,272
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2018)

Form 990-PF (2018)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	158,009	378,904	378,904
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	6,317,148	9,332,660	9,635,915
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)	1,200,474
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	7,675,631	9,711,564	10,014,819
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )	11,000
	23	Total liabilities (add lines 17 through 22).........	11,000	0
		Foundations that follow SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted..................
	25	Temporarily restricted...............
	26	Permanently restricted...............
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds........	7,664,631	9,711,564
	28	Paid-in or capital surplus, or land, bldg., and equipment fund
	29	Retained earnings, accumulated income, endowment, or other funds
	30	Total net assets or fund balances (see instructions).....	7,664,631	9,711,564
	31	Total liabilities and net assets/fund balances (see instructions).	7,675,631	9,711,564

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 30 (must agree with end-of-year figure reported on prior year’s return) ...............

7,664,631

Enter amount from Part I, line 27a .....................

2,054,136

Other increases not included in line 2 (itemize) bullet

Add lines 1, 2, and 3 ..........................

9,718,767

Decreases not included in line 2 (itemize) bullet

7,203

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .

9,711,564

Form 990-PF (2018)

Page 3

Part IV

Capital Gains and Losses for Tax on Investment Income

(a) List and describe the kind(s) of property sold (e.g., real estate, 2-story brick warehouse; or common stock, 200 shs. MLC Co.)		(b) How acquired P—Purchase D—Donation	(c) Date acquired (mo., day, yr.)	(d) Date sold (mo., day, yr.)
1 a	27. SENIOR HOUSING PROP TRUST		2017-05-22	2018-01-04
b	13. MOTOROLA SOLUTIONS, INC.		2016-02-16	2018-01-12
c	1. VERISK ANALYTICS INC		2016-09-07	2018-01-12
d	9. VERISK ANALYTICS INC		2017-06-21	2018-01-12
e	7. SAUL CTRS INC COM		2017-05-22	2018-01-19
	150000. LAKE CNTY IL SCH DIS 4.000% 1/01/23		2012-02-02	2018-01-23
	100000. BANK OF AMERICA CORP 2.600% 1/15/19		2015-07-01	2018-01-25
	100000. JPMORGAN CHASE & CO 2.350% 1/28/19		2015-06-23	2018-01-29
	7. BOSTON PROPERTIES INC COM		2017-05-22	2018-01-31
	18. LEUCADIA NATL CORP COM		2016-02-16	2018-02-05
	13. LOEWS CORP		2017-01-31	2018-02-05
	15. MICROCHIP TECHNOLOGY INC COM		2017-01-31	2018-02-05
	10. MOTOROLA SOLUTIONS, INC.		2016-02-16	2018-02-05
	11. VERISIGN INC COM		2017-01-31	2018-02-05
	32. SENSATA TECHNOLOGIES HOLDING			2018-02-05
	1. ALEXANDRIA REAL ESTATE EQUITIES		2018-01-19	2018-02-22
	1. AMERICAN HOMES 4 RENT		2017-11-16	2018-02-22
	3. APARTMENT INVT & MGMT CO CL A		2017-06-15	2018-02-22
	2. CUBESMART		2017-05-22	2018-02-22
	5. DDR CORP		2017-05-22	2018-02-22
	30. DUKE REALTY CORPORATION		2017-05-22	2018-02-22
	1. EQUITY LIFESTYLE PPTYS INC		2017-09-21	2018-02-22
	1. EQUITY RESIDENTIAL PPTYS TR SH BEN		2017-05-22	2018-02-22
	1. EXTRA SPACE STORAGE INC		2017-05-22	2018-02-22
	1. FIRST INDL RLTY TR INC COM		2017-05-22	2018-02-22
	2. HCP INC		2017-08-10	2018-02-22
	2. HEALTHCARE TRUST OF AME-CL A		2017-05-22	2018-02-22
	1. HILTON GRAND VACATIONS INC		2017-07-17	2018-02-22
	1. HILTON WORLDWIDE HOLDINGS IN		2017-05-22	2018-02-22
	1. HUDSON PACIFIC PROPERTIES INC		2017-05-22	2018-02-22
	1. KILROY REALTY CORP COM		2017-05-22	2018-02-22
	24. LEUCADIA NATL CORP COM		2016-02-16	2018-02-22
	14. LOEWS CORP			2018-02-22
	5. PHYSICIANS REALTY TRUST		2017-05-22	2018-02-22
	4. PROLOGIS INC		2017-05-22	2018-02-22
	1. PUBLIC STORAGE INC COM		2017-05-22	2018-02-22
	3. REGENCY CENTERS CORP		2017-05-22	2018-02-22
	3. SIMON PROPERTY GROUP INC		2017-05-22	2018-02-22
	2. SPIRIT RLTY CAP INC NEW		2017-05-22	2018-02-22
	6. STORE CAPITAL CORP		2017-05-22	2018-02-22
	1. SUN CMNTYS INC COM		2018-01-31	2018-02-22
	3. SUNSTONE HOTEL INVS INC NEW		2017-05-22	2018-02-22
	2. TANGER FACTORY OUTLET CTR		2017-05-22	2018-02-22
	1. VORNADO REALTY TRUST		2017-05-22	2018-02-22
	28. SENSATA TECHNOLOGIES HOLDING		2016-02-16	2018-02-22
	7. INTERXION HOLDING NV		2017-11-16	2018-02-26
	75000. APPLE INC 2.100% 5/06/19		2015-02-12	2018-03-14
	.25 BROWN FORMAN CORP CL B		2017-05-10	2018-03-16
	100000. BANK OF NEW YORK MEL 2.300% 9/11/19		2015-11-18	2018-03-19
	11. FIDELITY NATL INFORMATION SVCS INC			2018-03-20
	61. FOREST CITY REALTY TRUST-A			2018-03-20
	6. LOEWS CORP		2016-09-07	2018-03-20
	10. M & T BANK CORPORATION COM			2018-03-20
	21. LIBERTY GLOBAL PLC-A		2017-01-31	2018-03-20
	12. SENSATA TECHNOLOGIES HOLDING		2016-02-16	2018-03-20
	100000. AETNA INC 2.200% 3/15/19		2014-08-20	2018-03-23
	2.25 BROWN FORMAN CORP CL B		2016-11-29	2018-04-02
	14.75 BROWN FORMAN CORP CL B		2017-05-10	2018-04-02
	18. FIDELITY NATL INFORMATION SVCS INC		2017-01-31	2018-04-02
	36.86146 FOREST CITY REALTY TRUST-A			2018-04-02
	18.13854 FOREST CITY REALTY TRUST-A			2018-04-02
	25. LEUCADIA NATL CORP COM		2016-02-16	2018-04-02
	38. LOEWS CORP			2018-04-02
	42. AXALTA COATING SYSTEMS LTD			2018-04-02
	280. AFFILIATED MANAGERS GROUP, INC COM			2018-04-16
	24172.194 EATON VANCE GLOBAL MACRO - I			2018-04-16
	250. SPIRIT AEROSYTSEMS HOLD-CL A		2016-11-23	2018-04-16
	30. FOREST CITY REALTY TRUST-A		2016-02-16	2018-04-17
	38. LOEWS CORP		2016-02-16	2018-04-17
	13.01412 MACQUARIE INFRASTRUCTURE COMPANY LLC			2018-04-17
	3.98588 MACQUARIE INFRASTRUCTURE COMPANY LLC		2017-01-31	2018-04-17
	14. AXALTA COATING SYSTEMS LTD		2016-07-28	2018-04-18
	7. WHITE MTNS INS GROUP			2018-04-18
	2. WHITE MTNS INS GROUP		2018-01-31	2018-04-18
	145. APARTMENT INVT & MGMT CO CL A			2018-04-24
	4389.045 ARTISAN INTERNATIONAL FD INS #662		2016-06-03	2018-04-24
	3. AVALONBAY CMNTYS INC		2017-04-22	2018-04-24
	58. AVALONBAY CMNTYS INC			2018-04-24
	42. CORPORATE OFFICE PROPERTIES COM			2018-04-24
	22. CROWN CASTLE INTL CORP			2018-04-24
	102. CUBESMART		2017-05-22	2018-04-24
	42. DCT INDUSTRIAL TRUST INC			2018-04-24
	132. DDR CORP		2017-05-22	2018-04-24
	178. DUKE REALTY CORPORATION			2018-04-24
	46. EPR PROPERTIES			2018-04-24
	10905.125 EATON VANCE FLOATING RATE FD-I #924		2013-01-18	2018-04-24
	32. EQUITY LIFESTYLE PPTYS INC			2018-04-24
	12. ESSEX PPTY TR COM			2018-04-24
	72. EXTENDED STAY AMERICA INC			2018-04-24
	59. EXTRA SPACE STORAGE INC		2017-05-22	2018-04-24
	55. FIRST INDL RLTY TR INC COM		2017-05-22	2018-04-24
	51. GGP INC		2017-05-22	2018-04-24
	74. HCP INC		2017-08-10	2018-04-24
	31. HILTON GRAND VACATIONS INC			2018-04-24
	65. HILTON WORLDWIDE HOLDINGS IN		2017-05-22	2018-04-24
	131.188 INVITATION HOMES INC			2018-04-24
	25.812 INVITATION HOMES INC		2017-09-05	2018-04-24
	73. KILROY REALTY CORP COM			2018-04-24
	92. REGENCY CENTERS CORP		2017-05-22	2018-04-24
	43. SL GREEN REALTY CORP COM		2017-05-22	2018-04-24
	17. SAUL CTRS INC COM		2017-05-22	2018-04-24
	254. SPIRIT RLTY CAP INC NEW		2017-05-22	2018-04-24
	205. STORE CAPITAL CORP		2017-05-22	2018-04-24
	225. SUNSTONE HOTEL INVS INC NEW		2017-05-22	2018-04-24
	76. TANGER FACTORY OUTLET CTR			2018-04-24
	42. TERRENO REALTY CORP			2018-04-24
	23. VICI PROPERTIES INC		2018-02-08	2018-04-24
	24. VORNADO REALTY TRUST		2017-05-22	2018-04-24
	107. WELLTOWER INC			2018-04-24
	68. WEYERHAEUSER CO			2018-04-24
	82. INTERXION HOLDING NV			2018-04-24
	75000. BANK OF NEW YORK MEL 2.300% 9/11/19		2015-11-18	2018-04-26
	150000. GENERAL ELEC CAP COR 5.550% 5/04/20		2009-11-20	2018-04-26
	100000. PALMDALE CALIF ELEM 5.300% 8/01/26		2006-07-22	2018-04-26
	50000. VIACOM INC 5.625% 9/15/19		2015-02-12	2018-04-26
	75000. BERKSHIRE HATHAWAY 4.250% 1/15/21		2015-02-12	2018-05-01
	11.00083 DOLLAR TREE INC		2018-04-25	2018-05-10
	25. DOLLAR TREE INC			2018-05-10
	11.99917 DOLLAR TREE INC		2018-04-25	2018-05-10
	6. ECOLAB INC			2018-05-10
	5. ECOLAB INC		2018-04-25	2018-05-10
	3. FIDELITY NATL INFORMATION SVCS INC		2016-02-16	2018-05-10
	16. FIDELITY NATL INFORMATION SVCS INC		2018-04-25	2018-05-10
	10. INTUIT COM		2018-04-25	2018-05-10
	8. INTUIT COM			2018-05-10
	13. LOEWS CORP		2018-04-25	2018-05-10
	50. LOEWS CORP		2016-02-16	2018-05-10
	4. M & T BANK CORPORATION COM		2016-09-07	2018-05-10
	7. M & T BANK CORPORATION COM		2018-04-25	2018-05-10
	77. MACQUARIE INFRASTRUCTURE COMPANY LLC			2018-05-10
	14. AON PLC		2018-04-25	2018-05-10
	7. AMERICAN TOWER REIT		2018-04-24	2018-05-25
	12.00056 BOSTON PROPERTIES INC COM		2018-05-01	2018-05-25
	20.99944 BOSTON PROPERTIES INC COM		2018-05-01	2018-05-25
	5. CAMDEN PPTY TR SH BEN INT		2018-05-01	2018-05-25
	16. DOLLAR TREE INC		2016-02-16	2018-05-25
	5. EQUITY RESIDENTIAL PPTYS TR SH BEN		2017-05-22	2018-05-25
	2. ESSEX PPTY TR COM			2018-05-25
	11. FIDELITY NATL INFORMATION SVCS INC		2016-02-16	2018-05-25
	11. FOUR CORNERS PROPERTY TRUST		2018-05-01	2018-05-25
	46. HOST HOTELS & RESORTS, INC.		2018-05-01	2018-05-25
	20. INTUIT COM			2018-05-25
	3. LIBERTY BROADBAND CORP		2018-04-25	2018-05-25
	9. LIBERTY BROADBAND CORP		2016-09-07	2018-05-25
	9. LIBERTY BROADBAND CORP			2018-05-25
	12. LIBERTY BROADBAND CORP		2018-04-25	2018-05-25
	25. PHYSICIANS REALTY TRUST		2017-05-22	2018-05-25
	9. PROLOGIS INC		2018-05-01	2018-05-25
	26. TAUBMAN CTRS INC COM		2018-05-01	2018-05-25
	19. AON PLC		2018-04-25	2018-05-25
	11792.453 WF ULTR SHORT-TRMINCOME-I#3104		2017-04-05	2018-05-29
	800. STARBUCKS CORP COM		2013-01-29	2018-05-30
	4. ALEXANDRIA REAL ESTATE EQUITIES		2018-05-01	2018-06-18
	7. AMERICAN TOWER REIT		2018-05-31	2018-06-18
	68. BOSTON PROPERTIES INC COM			2018-06-18
	25. BOSTON PROPERTIES INC COM		2017-05-22	2018-06-18
	3. SIMON PROPERTY GROUP INC		2018-05-31	2018-06-18
	2. ESSEX PPTY TR COM			2018-06-20
	7. PROLOGIS INC		2018-05-07	2018-06-20
	2. SBA COMMUNICATIONS CORP		2018-04-24	2018-06-20
	75. DOLLAR TREE INC			2018-06-22
	12. DOLLAR TREE INC		2018-05-15	2018-06-22
	3. ECOLAB INC		2018-05-30	2018-06-22
	6. ECOLAB INC			2018-06-22
	14. FIDELITY NATL INFORMATION SVCS INC		2016-02-16	2018-06-22
	10. FIDELITY NATL INFORMATION SVCS INC		2018-05-30	2018-06-22
	7. INTUIT COM		2016-02-16	2018-06-22
	4. INTUIT COM		2018-05-30	2018-06-22
	2. LOEWS CORP		2018-05-30	2018-06-22
	15. LOEWS CORP		2016-02-16	2018-06-22
	9.99916 AON PLC		2018-04-30	2018-06-22
	16.00084 AON PLC			2018-06-22
	12. AON PLC		2016-09-07	2018-06-22
	13.75 BAYER AG ADR- RIGHTS DEEMED 7/15/18		2018-04-16	2018-07-02
	185. BAYER AG ADR- RIGHTS DEEMED 7/15/18		2017-01-17	2018-07-02
	2830. VANGUARD REIT VIPER			2018-07-16
	98. HOST HOTELS & RESORTS, INC.		2018-05-31	2018-07-24
	11. SIMON PROPERTY GROUP INC		2018-05-31	2018-07-24
	14.00096 AIR PRODS & CHEMS INC COM			2018-07-26
	16.99904 AIR PRODS & CHEMS INC COM			2018-07-26
	13. ECOLAB INC		2016-02-16	2018-07-26
	3. FIDELITY NATL INFORMATION SVCS INC		2018-06-27	2018-07-26
	24. FIDELITY NATL INFORMATION SVCS INC		2016-02-16	2018-07-26
	15. INTUIT COM		2016-02-16	2018-07-26
	1. INTUIT COM		2018-06-27	2018-07-26
	34. ROSS STORES INC			2018-07-26
	13. S&P GLOBAL INC			2018-07-26
	10. AON PLC		2018-05-05	2018-07-26
	4. AON PLC		2016-09-07	2018-07-26
	500. ISHARES TIPS BOND ETF		2009-11-25	2018-07-31
	250. ISHARES BARCLAYS MBS BOND FUND		2018-05-03	2018-07-31
	25000. APPLE INC 2.850% 2/23/23		2018-03-14	2018-08-01
	34. AUTODESK INC			2018-08-01
	50000. BANK OF NOVA SCOTIA 2.800% 7/21/21		2015-02-12	2018-08-01
	50000. BAXTER INTERNATIONAL 1.700% 8/15/21		2016-08-11	2018-08-01
	100000. BERKSHIRE HATHAWAY 3.000% 5/15/22		2015-06-23	2018-08-01
	100000. CISCO SYSTEMS INC 2.450% 6/15/20		2015-06-23	2018-08-01
	50000. COMMONWEALTH EDISON 2.550% 6/15/26		2016-06-21	2018-08-01
	75000. FED HOME LN BK 1.375% 2/18/21		2016-02-17	2018-08-01
	22. FIDELITY NATL INFORMATION SVCS INC		2016-02-16	2018-08-01
	50000. GENERAL ELEC CAP COR 5.550% 5/04/20		2009-11-20	2018-08-01
	21. MOODYS CORP		2018-05-30	2018-08-01
	50000. PEPSICO INC 3.600% 3/01/24		2018-03-26	2018-08-01
	56. ROSS STORES INC			2018-08-01
	14. S&P GLOBAL INC			2018-08-01
	10000. US TREASURY NOTE 2.750% 2/15/28		2018-04-27	2018-08-01
	15000. US TREASURY NOTE 1.750% 11/15/26		2018-04-27	2018-08-01
	15000. WESTPAC BANKING CORP 3.400% 1/25/28		2018-04-27	2018-08-01
	14. AON PLC			2018-08-01
	740. BAYER AG - ADR		2017-01-17	2018-08-10
	55. BAYER AG - ADR		2018-04-16	2018-08-10
	190. CVS HEALTH CORPORATION		2015-04-13	2018-08-10
	170. GILEAD SCIENCES INC			2018-08-10
	50. HAIN CELESTIAL GROUP INC		2018-04-16	2018-08-10
	590. HAIN CELESTIAL GROUP INC			2018-08-10
	175. MCKESSON CORP		2016-04-29	2018-08-10
	10. MCKESSON CORP		2018-04-16	2018-08-10
	14. AIR PRODS & CHEMS INC COM			2018-08-17
	14. MOODYS CORP			2018-08-17
	13. ROPER TECHNOLOGIES INC			2018-08-17
	14. SHERWIN WILLIAMS CO			2018-08-17
	14. AON PLC		2017-01-31	2018-08-17
	23. ALEXANDRIA REAL ESTATE EQUITIES		2018-05-01	2018-08-24
	22. AMERICAN HOMES 4 RENT		2017-11-16	2018-08-24
	37. AMERICAN TOWER REIT			2018-08-24
	15. CAMDEN PPTY TR SH BEN INT			2018-08-24
	50000. COMMONWEALTH EDISON 2.550% 6/15/26		2016-06-21	2018-08-24
	6. CORESITE REALTY CORP		2018-06-20	2018-08-24
	7. EQUINIX INC		2017-05-22	2018-08-24
	16. EQUITY RESIDENTIAL PPTYS TR SH BEN			2018-08-24
	21. ESSEX PPTY TR COM			2018-08-24
	33. FOUR CORNERS PROPERTY TRUST		2018-06-20	2018-08-24
	296. HOST HOTELS & RESORTS, INC.			2018-08-24
	87. HUDSON PACIFIC PROPERTIES INC		2018-05-31	2018-08-24
	80. INVITATION HOMES INC			2018-08-24
	177. PHYSICIANS REALTY TRUST			2018-08-24
	23. PHYSICIANS REALTY TRUST		2018-06-18	2018-08-24
	59. PROLOGIS INC			2018-08-24
	8. PUBLIC STORAGE INC COM		2017-05-22	2018-08-24
	155. RETAIL OPPORTUNITY INVESTMENTS CORP		2018-05-31	2018-08-24
	17. SIMON PROPERTY GROUP INC		2018-05-31	2018-08-24
	22. SUN CMNTYS INC COM		2018-05-31	2018-08-24
	25000. US TREASURY NOTE 1.250% 7/31/19		2017-09-22	2018-08-24
	10000. U S TREASURY NT 3.125% 5/25/21		2018-05-03	2018-08-24
	15000. US TREASURY NOTE 2.500% 5/15/24		2018-04-27	2018-08-24
	46. VENTAS INC COM			2018-08-24
	1. AIR PRODS & CHEMS INC COM		2016-09-07	2018-08-29
	12. AIR PRODS & CHEMS INC COM			2018-08-29
	13. MOODYS CORP			2018-08-29
	24. ROSS STORES INC		2017-01-31	2018-08-29
	4. ROSS STORES INC		2018-05-30	2018-08-29
	14. S&P GLOBAL INC		2018-04-25	2018-08-29
	13. AUTODESK INC			2018-09-17
	69. BROOKFIELD ASSET MANAGE-CL A			2018-09-17
	52. DENTSPLY SIRONA INC			2018-09-17
	22. FOREST CITY REALTY TRUST-A			2018-09-17
	108. FOREST CITY REALTY TRUST-A			2018-09-17
	16. MOODYS CORP			2018-09-17
	12. MOODYS CORP		2018-04-25	2018-09-17
	31. PROGRESSIVE CORP OHIO			2018-09-17
	14. SHERWIN WILLIAMS CO			2018-09-17
	34. BROOKFIELD ASSET MANAGE-CL A		2018-05-30	2018-10-05
	130. DENTSPLY SIRONA INC			2018-10-05
	29. MOODYS CORP			2018-10-05
	19. PROGRESSIVE CORP OHIO		2018-05-10	2018-10-05
	47. ROSS STORES INC			2018-10-05
	19. AON PLC			2018-10-05
	50. DENTSPLY SIRONA INC			2018-10-11
	105. DENTSPLY SIRONA INC			2018-10-11
	16. SHERWIN WILLIAMS CO			2018-10-11
	25000. ABBVIE INC 2.900% 11/06/22		2018-01-29	2018-10-22
	35. ALEXANDRIA REAL ESTATE EQUITIES			2018-10-22
	23.99653 AMERICAN HOMES 4 RENT		2017-11-16	2018-10-22
	141.00347 AMERICAN HOMES 4 RENT			2018-10-22
	75. AMERICAN TOWER REIT			2018-10-22
	15000. APPLE INC 2.850% 2/23/23		2018-03-14	2018-10-22
	25000. BP CAPITAL MARKETS 3.814% 2/10/24		2018-03-19	2018-10-22
	35. CAMDEN PPTY TR SH BEN INT			2018-10-22
	25000. CAPITAL ONE FINANCIA 3.200% 1/30/23		2018-01-31	2018-10-22
	15000. CITIGROUP INC 2.700% 10/27/22		2018-08-08	2018-10-22
	10. CORESITE REALTY CORP		2018-06-18	2018-10-22
	5.00012 EQUINIX INC		2017-05-22	2018-10-22
	19.99988 EQUINIX INC		2017-05-22	2018-10-22
	15. EQUITY RESIDENTIAL PPTYS TR SH BEN		2018-05-31	2018-10-22
	20. EQUITY RESIDENTIAL PPTYS TR SH BEN		2017-05-22	2018-10-22
	18.00018 ESSEX PPTY TR COM		2017-05-22	2018-10-22
	1.99982 ESSEX PPTY TR COM		2017-05-22	2018-10-22
	50000. FED HOME LN BK 1.375% 11/15/19		2018-01-29	2018-10-22
	60. FOUR CORNERS PROPERTY TRUST			2018-10-22
	50000. GENERAL ELEC CAP COR 5.550% 5/04/20		2009-11-20	2018-10-22
	25000. GOLDMAN SACHS GROUP 3.625% 1/22/23		2018-01-25	2018-10-22
	4683.396 HARBOR INTERNATION FD INST #2011			2018-10-22
	38.00078 HEALTHCARE TRUST OF AME-CL A		2017-05-22	2018-10-22
	36.99922 HEALTHCARE TRUST OF AME-CL A			2018-10-22
	15000. HOME DEPOT INC 3.000% 4/01/26		2018-04-27	2018-10-22
	298. HOST HOTELS & RESORTS, INC.		2018-05-01	2018-10-22
	155. HUDSON PACIFIC PROPERTIES INC			2018-10-22
	175. INVITATION HOMES INC			2018-10-22
	2850. ISHARES RUSSELL 2000 ETF			2018-10-22
	3616. ISHARES CORE S&P SMALL-CAP E			2018-10-22
	25000. JPMORGAN CHASE & CO 3.125% 1/23/25		2018-03-19	2018-10-22
	15000. NOVARTIS CAPITAL COR 3.000% 11/20/25		2018-04-27	2018-10-22
	455. PHYSICIANS REALTY TRUST			2018-10-22
	7190.795 PRINCIPAL PREFERRED SEC-R6 #8200		2010-06-28	2018-10-22
	110. PROLOGIS INC		2018-05-01	2018-10-22
	9. PUBLIC STORAGE INC COM		2018-05-31	2018-10-22
	11. PUBLIC STORAGE INC COM		2017-05-22	2018-10-22
	280. RETAIL OPPORTUNITY INVESTMENTS CORP			2018-10-22
	15. SBA COMMUNICATIONS CORP		2018-04-24	2018-10-22
	50. SIMON PROPERTY GROUP INC			2018-10-22
	35. SUN CMNTYS INC COM			2018-10-22
	25. TAUBMAN CTRS INC COM			2018-10-22
	25000. US TREASURY NOTE 1.625% 11/30/19		2017-12-11	2018-10-22
	5000. US TREASURY NOTE 2.250% 11/15/25		2018-08-03	2018-10-22
	5000. U S TREASURY NT 3.125% 5/25/21		2018-05-03	2018-10-22
	10000. US TREASURY NOTE 1.750% 11/15/26		2018-04-27	2018-10-22
	10000. US TREASURY NOTE 2.500% 5/15/24		2018-04-27	2018-10-22
	15000. US TREASURY NOTE 2.000% 7/31/22		2018-08-03	2018-10-22
	35. VENTAS INC COM			2018-10-22
	5000. WESTPAC BANKING CORP 3.400% 1/25/28		2018-04-27	2018-10-22
	60. HOST HOTELS & RESORTS, INC.		2018-05-01	2018-11-06
	50. HUDSON PACIFIC PROPERTIES INC		2018-05-01	2018-11-06
	36. RETAIL OPPORTUNITY INVESTMENTS CORP		2018-05-01	2018-11-06
	4. SIMON PROPERTY GROUP INC		2018-05-01	2018-11-06
	15. AUTODESK INC		2018-04-25	2018-11-15
	65. BROOKFIELD ASSET MANAGE-CL A		2018-05-30	2018-11-15
	14. LIBERTY EXPEDIA HOLDINGS INC			2018-11-15
	13. LIBERTY EXPEDIA HOLDINGS INC		2017-01-31	2018-11-15
	63. ROSS STORES INC		2016-02-16	2018-11-15
	14. S&P GLOBAL INC			2018-11-15
	13. AON PLC		2016-02-16	2018-11-15
	50000. VIACOM INC 5.625% 9/15/19		2015-02-12	2018-12-03
	75. SCHLUMBERGER LTD		2018-04-16	2018-12-17
	600. SCHLUMBERGER LTD			2018-12-17
	18. COLFAX CORPORATION		2017-01-31	2018-12-20
	23. COLFAX CORPORATION		2018-09-17	2018-12-20
	13. DOLLAR GENERAL CORP		2018-06-22	2018-12-20
	12. MOHAWK INDS INC COM			2018-12-20
	7. MOHAWK INDS INC COM		2018-04-25	2018-12-20
	9. MOODYS CORP		2016-02-16	2018-12-20
	7. O'REILLY AUTOMOTIVE INC		2016-09-07	2018-12-20
	6. O'REILLY AUTOMOTIVE INC		2018-06-27	2018-12-20
	3. ROPER TECHNOLOGIES INC		2017-01-31	2018-12-20
	14. ROPER TECHNOLOGIES INC			2018-12-20
	55. ROSS STORES INC			2018-12-20
	18. S&P GLOBAL INC			2018-12-20
	17. AON PLC		2016-02-16	2018-12-20
	1. 2350-2360 EL CAMINO REAL SANTA CLARA CA		2009-06-25	2018-12-31
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	509	576	-67
b	1,252	817	435
c	97	84	13
d	871	757	114
e	392	401	-9
	161,913	160,745	1,168
	100,369	101,040	-671
	100,342	100,531	-189
	852	848	4
	456	267	189
	642	600	42
	1,374	1,000	374
	1,033	629	404
	1,225	878	347
	1,705	1,112	593
	120	126	-6
	19	22	-3
	115	134	-19
	53	50	3
	38	44	-6
	749	855	-106
	85	87	-2
	56	66	-10
	84	77	7
	28	29	-1
	44	59	-15
	52	63	-11
	44	36	8
	84	65	19
	31	33	-2
	67	72	-5
	598	355	243
	700	628	72
	75	100	-25
	241	222	19
	193	215	-22
	174	183	-9
	464	473	-9
	15	15
	143	123	20
	88	89	-1
	45	48	-3
	45	52	-7
	67	75	-8
	1,494	923	571
	399	397	2
	74,736	76,464	-1,728
	14	10	4
	99,369	101,166	-1,797
	1,101	876	225
	1,257	1,419	-162
	308	249	59
	1,896	1,579	317
	672	760	-88
	635	396	239
	99,435	100,544	-1,109
	119	84	35
	781	582	199
	1,698	1,421	277
	726	701	25
	357	383	-26
	546	370	176
	1,830	1,474	356
	1,258	1,193	65
	48,066	38,923	9,143
	218,275	221,575	-3,300
	19,730	14,543	5,187
	608	521	87
	1,935	1,380	555
	514	1,049	-535
	157	296	-139
	453	396	57
	6,038	5,509	529
	1,725	1,691	34
	5,669	6,273	-604
	149,754	125,000	24,754
	485	555	-70
	9,367	10,912	-1,545
	1,121	1,343	-222
	2,311	2,210	101
	2,827	2,565	262
	2,390	2,445	-55
	880	1,148	-268
	4,628	5,054	-426
	2,452	3,224	-772
	98,800	99,762	-962
	2,787	2,695	92
	2,839	3,055	-216
	1,410	1,444	-34
	5,100	4,570	530
	1,616	1,580	36
	986	1,169	-183
	1,639	2,166	-527
	1,345	1,120	225
	5,284	4,207	1,077
	2,980	2,867	113
	586	592	-6
	5,048	5,198	-150
	5,135	5,598	-463
	4,120	4,433	-313
	823	971	-148
	2,002	1,844	158
	5,017	4,213	804
	3,490	3,576	-86
	1,640	1,903	-263
	1,470	1,377	93
	412	466	-54
	1,565	1,805	-240
	5,435	7,756	-2,321
	2,445	2,382	63
	5,208	3,762	1,446
	74,570	75,875	-1,305
	156,938	153,660	3,278
	113,130	100,000	13,130
	51,501	56,949	-5,448
	77,579	83,907	-6,328
	1,022	1,068	-46
	2,322	1,970	352
	1,115	1,165	-50
	885	729	156
	738	726	12
	314	176	138
	1,677	1,506	171
	1,940	1,772	168
	1,552	903	649
	673	668	5
	2,590	1,816	774
	743	462	281
	1,300	1,282	18
	3,003	4,451	-1,448
	2,006	1,990	16
	954	956	-2
	1,434	1,473	-39
	2,509	2,577	-68
	428	431	-3
	1,528	1,235	293
	308	328	-20
	467	519	-52
	1,139	646	493
	248	251	-3
	987	900	87
	3,940	1,918	2,022
	213	244	-31
	640	641	-1
	640	523	117
	853	977	-124
	372	496	-124
	579	586	-7
	1,389	1,467	-78
	2,699	2,700	-1
	99,646	100,000	-354
	46,003	22,248	23,755
	501	520	-19
	964	967	-3
	8,058	8,224	-166
	2,963	3,028	-65
	492	481	11
	465	531	-66
	445	457	-12
	318	330	-12
	6,526	5,737	789
	1,044	1,204	-160
	418	433	-15
	836	670	166
	1,509	822	687
	1,078	1,036	42
	1,446	660	786
	826	805	21
	98	98
	733	545	188
	1,372	1,409	-37
	2,195	2,255	-60
	1,646	1,345	301
	23		23
	308		308
	231,491	214,605	16,886
	2,101	2,138	-37
	1,868	1,765	103
	2,273	2,299	-26
	2,760	2,797	-37
	1,855	1,399	456
	328	316	12
	2,621	1,409	1,212
	3,271	1,413	1,858
	218	200	18
	2,991	2,776	215
	2,763	2,616	147
	1,480	1,396	84
	592	448	144
	55,904	53,092	2,812
	25,962	25,918	44
	24,640	24,777	-137
	4,330	4,410	-80
	49,256	50,736	-1,480
	47,602	49,948	-2,346
	99,540	100,968	-1,428
	99,186	100,406	-1,220
	46,022	50,000	-3,978
	72,416	74,697	-2,281
	2,264	1,292	972
	51,988	51,220	768
	3,596	3,640	-44
	50,594	50,953	-359
	4,840	4,390	450
	2,774	2,756	18
	9,802	9,823	-21
	13,929	13,922	7
	14,343	14,359	-16
	1,994	1,569	425
	19,652	19,967	-315
	1,461	1,688	-227
	13,047	19,424	-6,377
	13,105	16,156	-3,051
	1,418	1,607	-189
	16,727	23,156	-6,429
	21,589	29,199	-7,610
	1,234	1,489	-255
	2,326	2,273	53
	2,398	2,394	4
	3,862	3,631	231
	6,203	5,367	836
	2,007	1,568	439
	2,894	2,990	-96
	504	479	25
	5,481	5,134	347
	1,413	1,316	97
	46,532	50,000	-3,468
	694	652	42
	3,010	3,004	6
	1,076	1,054	22
	5,103	5,386	-283
	887	758	129
	6,201	6,292	-91
	2,857	3,079	-222
	1,850	1,873	-23
	3,076	3,494	-418
	400	353	47
	3,834	3,844	-10
	1,706	1,722	-16
	3,022	2,810	212
	3,060	2,727	333
	2,217	2,113	104
	24,765	24,974	-209
	10,120	10,139	-19
	14,801	14,687	114
	2,694	2,500	194
	168	144	24
	2,020	1,913	107
	2,290	2,114	176
	2,301	1,564	737
	383	313	70
	2,867	2,642	225
	1,913	1,618	295
	2,937	2,781	156
	1,980	3,311	-1,331
	552	454	98
	2,709	1,929	780
	2,833	1,671	1,162
	2,125	1,944	181
	2,123	1,956	167
	6,567	4,527	2,040
	1,484	1,366	118
	4,691	8,154	-3,463
	4,683	2,935	1,748
	1,344	1,185	159
	4,457	2,918	1,539
	2,982	2,048	934
	1,791	3,058	-1,267
	3,761	4,932	-1,171
	6,635	4,597	2,038
	24,181	24,828	-647
	4,255	4,526	-271
	494	522	-28
	2,902	2,966	-64
	11,191	10,306	885
	14,607	14,866	-259
	25,038	25,488	-450
	3,216	3,052	164
	24,188	24,849	-661
	14,352	14,435	-83
	1,046	1,082	-36
	2,062	2,146	-84
	8,247	8,584	-337
	958	960	-2
	1,278	1,314	-36
	4,376	4,580	-204
	486	509	-23
	49,270	49,349	-79
	1,547	1,364	183
	51,362	51,220	142
	24,687	25,513	-826
	277,585	226,593	50,992
	985	1,193	-208
	959	1,146	-187
	14,244	14,363	-119
	5,638	5,832	-194
	4,765	5,355	-590
	3,804	4,084	-280
	435,954	457,218	-21,264
	285,638	211,240	74,398
	23,692	24,029	-337
	14,252	14,484	-232
	7,585	6,806	779
	70,686	66,874	3,812
	6,981	7,167	-186
	1,782	1,907	-125
	2,178	2,367	-189
	5,026	4,964	62
	2,316	2,475	-159
	8,637	8,014	623
	3,437	3,334	103
	1,349	1,518	-169
	24,733	24,970	-237
	4,722	4,775	-53
	5,022	5,069	-47
	9,178	9,281	-103
	9,707	9,791	-84
	14,463	14,544	-81
	1,933	1,841	92
	4,721	4,786	-65
	1,101	1,174	-73
	1,505	1,654	-149
	634	621	13
	732	641	91
	1,937	1,858	79
	2,828	2,612	216
	574	607	-33
	533	565	-32
	6,015	3,479	2,536
	2,483	1,719	764
	2,093	1,225	868
	50,979	56,949	-5,970
	2,958	5,148	-2,190
	23,667	35,039	-11,372
	363	692	-329
	464	814	-350
	1,316	1,305	11
	1,392	2,572	-1,180
	812	1,588	-776
	1,226	747	479
	2,327	1,972	355
	1,995	1,647	348
	791	572	219
	3,691	3,736	-45
	4,258	3,028	1,230
	2,979	1,970	1,009
	2,494	1,602	892
	3,755,000	1,508,497	2,246,503
			89,218

Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69			(l) Gains (Col. (h) gain minus col. (k), but not less than -0-) or Losses (from col.(h))
(i) F.M.V. as of 12/31/69	(j) Adjusted basis as of 12/31/69	(k) Excess of col. (i) over col. (j), if any
a			-67
b			435
c			13
d			114
e			-9
			1,168
			-671
			-189
			4
			189
			42
			374
			404
			347
			593
			-6
			-3
			-19
			3
			-6
			-106
			-2
			-10
			7
			-1
			-15
			-11
			8
			19
			-2
			-5
			243
			72
			-25
			19
			-22
			-9
			-9

			20
			-1
			-3
			-7
			-8
			571
			2
			-1,728
			4
			-1,797
			225
			-162
			59
			317
			-88
			239
			-1,109
			35
			199
			277
			25
			-26
			176
			356
			65
			9,143
			-3,300
			5,187
			87
			555
			-535
			-139
			57
			529
			34
			-604
			24,754
			-70
			-1,545
			-222
			101
			262
			-55
			-268
			-426
			-772
			-962
			92
			-216
			-34
			530
			36
			-183
			-527
			225
			1,077
			113
			-6
			-150
			-463
			-313
			-148
			158
			804
			-86
			-263
			93
			-54
			-240
			-2,321
			63
			1,446
			-1,305
			3,278
			13,130
			-5,448
			-6,328
			-46
			352
			-50
			156
			12
			138
			171
			168
			649
			5
			774
			281
			18
			-1,448
			16
			-2
			-39
			-68
			-3
			293
			-20
			-52
			493
			-3
			87
			2,022
			-31
			-1
			117
			-124
			-124
			-7
			-78
			-1
			-354
			23,755
			-19
			-3
			-166
			-65
			11
			-66
			-12
			-12
			789
			-160
			-15
			166
			687
			42
			786
			21

			188
			-37
			-60
			301
			23
			308
			16,886
			-37
			103
			-26
			-37
			456
			12
			1,212
			1,858
			18
			215
			147
			84
			144
			2,812
			44
			-137
			-80
			-1,480
			-2,346
			-1,428
			-1,220
			-3,978
			-2,281
			972
			768
			-44
			-359
			450
			18
			-21
			7
			-16
			425
			-315
			-227
			-6,377
			-3,051
			-189
			-6,429
			-7,610
			-255
			53
			4
			231
			836
			439
			-96
			25
			347
			97
			-3,468
			42
			6
			22
			-283
			129
			-91
			-222
			-23
			-418
			47
			-10
			-16
			212
			333
			104
			-209
			-19
			114
			194
			24
			107
			176
			737
			70
			225
			295
			156
			-1,331
			98
			780
			1,162
			181
			167
			2,040
			118
			-3,463
			1,748
			159
			1,539
			934
			-1,267
			-1,171
			2,038
			-647
			-271
			-28
			-64
			885
			-259
			-450
			164
			-661
			-83
			-36
			-84
			-337
			-2
			-36
			-204
			-23
			-79
			183
			142
			-826
			50,992
			-208
			-187
			-119
			-194
			-590
			-280
			-21,264
			74,398
			-337
			-232
			779
			3,812
			-186
			-125
			-189
			62
			-159
			623
			103
			-169
			-237
			-53
			-47
			-103
			-84
			-81
			92
			-65
			-73
			-149
			13
			91
			79
			216
			-33
			-32
			2,536
			764
			868
			-5,970
			-2,190
			-11,372
			-329
			-350
			11
			-1,180
			-776
			479
			355
			348
			219
			-45
			1,230
			1,009
			892
			2,246,503

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	2,484,889
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income

(For optional use by domestic private foundations subject to the section 4940(a) tax on net investment income.)

If section 4940(d)(2) applies, leave this part blank.

Was the foundation liable for the section 4942 tax on the distributable amount of any year in the base period? Yes No

If "Yes," the foundation does not qualify under section 4940(e). Do not complete this part.

1 Enter the appropriate amount in each column for each year; see instructions before making any entries.

(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2017	462,344	10,609,392	0.043579
2016	462,515	8,879,026	0.052091
2015	533,695	9,279,823	0.057511
2014	464,088	9,533,296	0.048681
2013	409,297	9,301,914	0.044001

Total of line 1, column (d) .....................

0.245863

Average distribution ratio for the 5-year base period—divide the total on line 2 by 5.0, or by the number of years the foundation has been in existence if less than 5 years ......

0.049173

Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......

10,897,945

Multiply line 4 by line 3......................

535,885

Enter 1% of net investment income (1% of Part I, line 27b)...........

25,133

Add lines 5 and 6........................

561,018

Enter qualifying distributions from Part XII, line 4,.............

462,633

If line 8 is equal to or greater than line 7, check the box in Part VI, line 1b, and complete that part using a 1% tax rate. See the Part VI instructions.

Form 990-PF (2018)

Page 4

Part VI

Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	50,265
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	50,265
4	Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	4	0
5	Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- .....	5	50,265
6	Credits/Payments:

a	2018 estimated tax payments and 2017 overpayment credited to 2018	6a	6,048
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	6,048
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9	44,217
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2019 estimated tax0	Refunded	11	0

Part VII-A

Statements Regarding Activities

During the tax year, did the foundation attempt to influence any national, state, or local legislation or did

Yes

it participate or intervene in any political campaign? ....................

Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions

for definition).................................

If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials

published or distributed by the foundation in connection with the activities.

Did the foundation file Form 1120-POL for this year?.....................

Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed

on foundation managers. bullet

Has the foundation engaged in any activities that have not previously been reported to the IRS?.......

If "Yes," attach a detailed description of the activities.

Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles

of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changes....

Did the foundation have unrelated business gross income of $1,000 or more during the year?........

If "Yes," has it filed a tax return on Form 990-T for this year?...................

Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........

If "Yes," attach the statement required by General Instruction T.

Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:

By language in the governing instrument, or

By state legislation that effectively amends the governing instrument so that no mandatory directions

that conflict with the state law remain in the governing instrument?................

Yes

Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),

and Part XV..................................

Yes

Enter the states to which the foundation reports or with which it is registered (see instructions)

If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney

General (or designate) of each state as required by General Instruction G? If "No," attach explanation .

Yes

Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)

or 4942(j)(5) for calendar year 2018 or the taxable year beginning in 2018? See the instructions for Part XIV.

If "Yes," complete Part XIV .............................

Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names

and addresses. ...............................

Form 990-PF (2018)

Page 5

Part VII-A

Statements Regarding Activities (continued)

At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the

meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............

Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had

advisory privileges? If "Yes," attach statement. See instructions.................

Did the foundation comply with the public inspection requirements for its annual returns and exemption application?

Yes

Website address bullet

N/A

The books are in care of bullet

WELLS FARGO BANK NA Telephone no. bullet

(888) 730-4933

Located at bullet

100 N MAIN ST MAC D4001-117WINSTON SALEMNC ZIP+4 bullet

27101

Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here ......... bullet

and enter the amount of tax-exempt interest received or accrued during the year ........ bullet

16 At any time during calendar year 2018, did the foundation have an interest in or a signature or other authority over YesNo

a bank, securities, or other financial account in a foreign country? .................

16 No

See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country bullet

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.

Yes

During the year did the foundation (either directly or indirectly):

(1) Engage in the sale or exchange, or leasing of property with a disqualified person? YesNo

(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)

a disqualified person?......................YesNo

(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? YesNo

(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? YesNo

(5) Transfer any income or assets to a disqualified person (or make any of either available

for the benefit or use of a disqualified person)?...............YesNo

(6) Agree to pay money or property to a government official? (Exception. Check "No"

if the foundation agreed to make a grant to or to employ the official for a period

after termination of government service, if terminating within 90 days.).......YesNo

If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations

section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ........

Organizations relying on a current notice regarding disaster assistance check here........ bullet

Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,

that were not corrected before the first day of the tax year beginning in 2018?.............

Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private

operating foundation defined in section 4942(j)(3) or 4942(j)(5)):

At the end of tax year 2018, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2018?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)

(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)

to all years listed, answer "No" and attach statement—see instructions.) ..............

If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.

20, 20, 20, 20

Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at

any time during the year?......................YesNo

If "Yes," did it have excess business holdings in 2018 as a result of (1) any purchase by the foundation

or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved

by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)

the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine

if the foundation had excess business holdings in 2018.)..................

Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?

Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2018?

Form 990-PF (2018)

Page 6

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required (continued)

During the year did the foundation pay or incur any amount to:

Yes

(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? YesNo

(2) Influence the outcome of any specific public election (see section 4955); or to carry

on, directly or indirectly, any voter registration drive?.............YesNo

(3) Provide a grant to an individual for travel, study, or other similar purposes? YesNo

(4) Provide a grant to an organization other than a charitable, etc., organization described

in section 4945(d)(4)(A)? See instructions................YesNo

(5) Provide for any purpose other than religious, charitable, scientific, literary, or

educational purposes, or for the prevention of cruelty to children or animals?.....YesNo

If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in

Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ......

Organizations relying on a current notice regarding disaster assistance check here......... bullet

If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the

tax because it maintained expenditure responsibility for the grant?..........YesNo

If "Yes," attach the statement required by Regulations section 53.4945–5(d).

Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on

a personal benefit contract?.....................YesNo

Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....

If "Yes" to 6b, file Form 8870.

At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction? YesNo

If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....

Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or

excess parachute payment during the year? .................YesNo

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors

1 List all officers, directors, trustees, foundation managers and their compensation. See instructions

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)
BEN G KUCKENS	CO-TRUSTEE 1	3,600
1871 ORGANGETREE LANE MOUNTAIN VIEW,CA94040	CO-TRUSTEE 1	3,600
HELEN KUCKENS	CO-TRUSTEE 1	3,600
1871 ORGANGETREE LANE MOUNTAIN VIEW,CA94040	CO-TRUSTEE 1	3,600
STEPHEN J SCHNEIDER	CO-TRUSTEE 1	17,100
14103-G WINCHESTER BLVD LOS GATOS,CA95032	CO-TRUSTEE 1	17,100
Wells Fargo Bank NA	TRUSTEE 1	92,071
6325 S RAINBOW BLVD STE 300 LAS VEGAS,NV89118	TRUSTEE 1	92,071

2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."


(a) Name and address of each employee paid more than $50,000	(b) Title, and average hours per week devoted to position	(c) Compensation	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
NONE









Total number of other employees paid over $50,000...................				0

Form 990-PF (2018)

Page 7

Part VIII

Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)

3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000	(b) Type of service	(c) Compensation
NONE

Total number of others receiving over $50,000 for professional services............. bullet

Part IX-A

Summary of Direct Charitable Activities

List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc.	Expenses
1


2


3


4

Part IX-B

Summary of Program-Related Investments (see instructions)

Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2.	Amount
1


2


All other program-related investments. See instructions.
3

Total. Add lines 1 through 3......................... bullet

Form 990-PF (2018)

Page 8

Part X

Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)

Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,

purposes:

Average monthly fair market value of securities...................

10,478,588

Average of monthly cash balances.......................

585,316

Fair market value of all other assets (see instructions)................

Total (add lines 1a, b, and c).........................

11,063,904

Reduction claimed for blockage or other factors reported on lines 1a and

1c (attach detailed explanation) .............

Acquisition indebtedness applicable to line 1 assets..................

Subtract line 2 from line 1d.........................

11,063,904

Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see

instructions) .............................

165,959

Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4

10,897,945

Minimum investment return. Enter 5% of line 5..................

544,897

Part XI

Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here bullet

and do not complete this part.)

Minimum investment return from Part X, line 6....................

544,897

Tax on investment income for 2018 from Part VI, line 5......

50,265

Income tax for 2018. (This does not include the tax from Part VI.)...

Add lines 2a and 2b............................

50,265

Distributable amount before adjustments. Subtract line 2c from line 1............

494,632

Recoveries of amounts treated as qualifying distributions................

Add lines 3 and 4............................

494,632

Deduction from distributable amount (see instructions).................

Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...

494,632

Part XII

Qualifying Distributions (see instructions)

Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:

Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........

462,633

Program-related investments—total from Part IX-B..................

Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,

purposes...............................

Amounts set aside for specific charitable projects that satisfy the:

Suitability test (prior IRS approval required)....................

Cash distribution test (attach the required schedule) .................

Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4

462,633

Foundations that qualify under section 4940(e) for the reduced rate of tax on net investment

income. Enter 1% of Part I, line 27b. See instructions.................

Adjusted qualifying distributions. Subtract line 5 from line 4..............

462,633

Note: The amount on line 6 will be used in Part V, column (b), in subsequent years when calculating whether the foundation qualifies for
the section 4940(e) reduction of tax in those years.

Form 990-PF (2018)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2017	(c) 2017	(d) 2018
1 Distributable amount for 2018 from Part XI, line 7					494,632
2 Undistributed income, if any, as of the end of 2018:
a Enter amount for 2017 only.......				402,590
b Total for prior years:2016, 2015, 20			0
3 Excess distributions carryover, if any, to 2018:
a From 2013......	0
b From 2014......	0
c From 2015......	0
d From 2016......	0
e From 2017......	0
fTotal of lines 3a through e........		0
4Qualifying distributions for 2018 from Part
XII, line 4: $ 462,633
a Applied to 2017, but not more than line 2a				402,590
b Applied to undistributed income of prior years (Election required—see instructions).....			0
c Treated as distributions out of corpus (Election required—see instructions)........		0
d Applied to 2018 distributable amount.....					60,043
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2018.		0			0
(If an amount appears in column (d), the same amount must be shown in column (a).)
6Enter the net total of each column as indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5		0
b Prior years’ undistributed income. Subtract line 4b from line 2b ..........			0
c Enter the amount of prior years’ undistributed income for which a notice of deficiency has been issued, or on which the section 4942(a) tax has been previously assessed......			0
d Subtract line 6c from line 6b. Taxable amount —see instructions ...........			0
e Undistributed income for 2017. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2018. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2019 ..........					434,589
7 Amounts treated as distributions out of corpus to satisfy requirements imposed by section 170(b)(1)(F) or 4942(g)(3) (Election may be required - see instructions) .......		0
8 Excess distributions carryover from 2013 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2019. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2014....	0
b Excess from 2015....	0
c Excess from 2016....	0
d Excess from 2017....	0
e Excess from 2018....	0

Form 990-PF (2018)

Page 10

Part XIV

Private Operating Foundations (see instructions and Part VII-A, question 9)

1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2018, enter the date of the ruling....... bullet

b Check box to indicate whether the organization is a private operating foundation described in section4942(j)(3) or4942(j)(5)

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2018	(b) 2017	(c) 2016	(d) 2015	(e) Total

b 85% of line 2a .........
c Qualifying distributions from Part XII, line 4 for each year listed .....
d Amounts included in line 2c not used directly for active conduct of exempt activities ..........
e Qualifying distributions made directly for active conduct of exempt activities. Subtract line 2d from line 2c ....
3 Complete 3a, b, or c for the alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......
(2) Value of assets qualifying under section 4942(j)(3)(B)(i)
b “Endowment" alternative test— enter 2/3 of minimum investment return shown in Part X, line 6 for each year listed...
c “Support" alternative test—enter:
(1) Total support other than gross investment income (interest, dividends, rents, payments on securities loans (section 512(a)(5)), or royalties) ....
(2) Support from general public and 5 or more exempt organizations as provided in section 4942(j)(3)(B)(iii)....
(3) Largest amount of support from an exempt organization
(4) Gross investment income

Part XV

Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)

1Information Regarding Foundation Managers:

aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)

NONE

bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.

NONE

2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:

Check here bullet

if the foundation only makes contributions to preselected charitable organizations and does not accept
unsolicited requests for funds. If the foundation makes gifts, grants, etc. to individuals or organizations under
other conditions, complete items 2a, b, c, and d. See instructions

aThe name, address, and telephone number or email address of the person to whom applications should be addressed:

bThe form in which applications should be submitted and information and materials they should include:

cAny submission deadlines:

dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:

Form 990-PF (2018)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
CHILDREN'S HOSPITAL & RESEARCH 5225 DOVER STREET STE 600 OAKLAND,CA94609	NONE	PC	GENERAL SUPPORT GRANT	95,000
SACRED HEART NATIVITY SCHOOL 310 EDWARDS AVE SAN JOSE,CA95110	NONE	PC	GENERAL SUPPORT GRANT	60,000
SAN JOSE CHILDREN'S MUSICAL THEATER 1401 PARKMOOR AVE STE 100 SAN JOSE,CA95113	NONE	PC	GENERAL SUPPORT GRANT	100,000
SILICON VALLEY EDUCATION FOUNDATION 1400 PARKMOOR AVE SAN JOSE,CA95126	NONE	PC	GENERAL SUPPORT GRANT	50,000
ASSISTANCE LEAGUE OF SAN JOSE PO BOX 20174 SAN JOSE,CA95160	NONE	PC	GENERAL SUPPORT GRANT	100,000
Total ................................. 3a				405,000

bApproved for future payment

Total ................................. 3b

Form 990-PF (2018)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........
4 Dividends and interest from securities....			14	261,784
5 Net rental income or (loss) from real estate:
aDebt-financed property......
bNot debt-financed property.....			16	4,818
6 Net rental income or (loss) from personal property
7 Other investment income.....
8 Gain or (loss) from sales of assets other than inventory ............			18	2,484,889
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aFEDERAL TAX REFUND			1	161
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				2,751,652

13Total. Add line 12, columns (b), (d), and (e)..................

2,751,652

(See worksheet in line 13 instructions to verify calculations.)

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

Line No.	Explain below how each activity for which income is reported in column (e) of Part XVI-A contributed importantly to the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See instructions.)

Form 990-PF (2018)

Page 13

Part XVII

Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations

Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?

Yes

Transfers from the reporting foundation to a noncharitable exempt organization of:

(1) Cash...................................

1a(1)

(2) Other assets.................................

1a(2)

Other transactions:

(1) Sales of assets to a noncharitable exempt organization....................

1b(1)

(2) Purchases of assets from a noncharitable exempt organization..................

1b(2)

(3) Rental of facilities, equipment, or other assets.......................

1b(3)

(4) Reimbursement arrangements...........................

1b(4)

(5) Loans or loan guarantees.............................

1b(5)

(6) Performance of services or membership or fundraising solicitations................

1b(6)

Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............

If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.

(a) Line No.	(b) Amount involved	(c) Name of noncharitable exempt organization	(d) Description of transfers, transactions, and sharing arrangements

Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........Yes No

If "Yes," complete the following schedule.

(a) Name of organization	(b) Type of organization	(c) Description of relationship

Sign Here

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
				May the IRS discuss this return with the preparer shown below (see instr.)? Yes No
	Signature of officer or trustee	Date	Title

Paid Preparer Use Only	Print/Type preparer's name	Preparer's Signature	Date	Check if self- employed	PTIN
	Firm's name				Firm's EIN
	Firm's address				Phone no.

Form 990-PF (2018)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC	1,159			1,159

Identifier	Return Reference	Explanation
The compensation reported in column (c) is calculated based on	periodic market values and/or the applicable fee agreement. It is not	determined on an hourly basis and the reference to one hour per week is an estimate only. Corporate trustee services include, but are not limited to, administrative services such as fiduciary accounting, custody of assets, complying with tax filing requirements, complying with distribution provisions, and complying with federal and state laws applicable to private foundations, plus asset management services such as creating asset allocation strategies, investments reporting and reallocating and rebalancing of portfolios as necessary.

- TIN:

TY 2018 InvestmentsOtherSchedule2

Name:

STUART G & J CHAR TUA-MAIN

EIN:

27-0522116

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
55261F104 M & T BANK CORPORATI	AT COST	4,577	5,439
115236101 BROWN & BROWN INC	AT COST	10,398	12,678
31620R303 FNF GROUP	AT COST	18,424	18,109
448579102 HYATT HOTELS CORP	AT COST	8,717	7,842
48238T109 KAR AUCTION SERVICES	AT COST	4,998	5,011
G47567105 IHS MARKIT LTD	AT COST	15,479	17,173
43300A203 HILTON WORLDWIDE HOL	AT COST	18,968	17,304
297178105 ESSEX PPTY TR COM	AT COST	6,289	6,375
03027X100 AMERICAN TOWER REIT	AT COST	29,578	34,802
02665T306 AMERICAN HOMES 4 REN	AT COST	10,356	10,282
25243Q205 DIAGEO PLC - ADR	AT COST	16,720	37,577
437076102 HOME DEPOT INC	AT COST	18,220	42,955
512807108 LAM RESEARCH CORP CO	AT COST	32,460	24,511
654106103 NIKE INC CL B	AT COST	38,453	40,777
693475105 PNC FINANCIAL SERVIC	AT COST	24,975	26,305
09247X101 BLACKROCK INC	AT COST	65,198	78,564
58933Y105 MERCK & CO INC NEW	AT COST	28,597	42,026
31641Q763 FIDELITY NEW MRKTS I	AT COST	523,835	486,655
47803M168 JOHN HANCOCK II-CURR	AT COST	150,000	148,715
26078JAA8 DOWDUPONT INC	AT COST	20,126	20,192
437076BM3 HOME DEPOT INC	AT COST	33,513	33,902
037833BU3 APPLE INC	AT COST	34,687	34,571
115637209 BROWN FORMAN CORP CL	AT COST	4,308	4,663
592688105 METTLER-TOLEDO INTL	AT COST	14,006	14,140
92343E102 VERISIGN INC	AT COST	12,911	20,464
023586100 AMERCO	AT COST	7,162	6,562
36164V305 GCI LIBERTY INC	AT COST	5,772	6,092
615369105 MOODYS CORP	AT COST	6,387	10,783
12508E101 CDK GLOBAL INC	AT COST	6,039	5,027
256677105 DOLLAR GENERAL CORP	AT COST	8,510	10,700
531229854 LIBERTY MEDIA GROUP	AT COST	10,272	10,254
75606N109 REALPAGE INC	AT COST	8,239	6,650
44267D107 HOWARD HUGHES CORP/T	AT COST	10,833	8,981
620076307 MOTOROLA SOLUTIONS,	AT COST	3,434	5,062
67103H107 O'REILLY AUTOMOTIVE	AT COST	23,525	34,433
53046P109 LIBERTY EXPEDIA HOLD	AT COST	2,508	2,777
112585104 BROOKFIELD ASSET MAN	AT COST	32,388	37,583
893641100 TRANSDIGM GROUP INC	AT COST	26,215	37,067
133131102 CAMDEN PPTY TR SH BE	AT COST	11,596	11,975
532457108 ELI LILLY & CO COM	AT COST	24,362	39,923
594918104 MICROSOFT CORP	AT COST	57,178	144,737
91324P102 UNITEDHEALTH GROUP I	AT COST	19,206	89,683
150870103 CELANESE CORP	AT COST	25,099	46,784
025083320 AMER CENT SMALL CAP	AT COST	362,500	275,508
77958B402 T ROWE PRICE INST FL	AT COST	66,500	63,450
78463X863 SPDR DJ WILSHIRE INT	AT COST	258,225	226,529
961214DW0 WESTPAC BANKING CORP	AT COST	28,718	28,913
606822BA1 MITSUBISHI UFJ FIN	AT COST	24,881	25,115
064159FL5 BANK OF NOVA SCOTIA	AT COST	50,736	49,568
00206RDC3 AT&T INC	AT COST	10,136	10,166
05567LT31 BNP PARIBAS 5.000% 1	AT COST	25,856	25,869
531229607 LIBERTY SIRIUSXM GRO	AT COST	6,062	6,989
78410G104 SBA COMMUNICATIONS C	AT COST	36,229	46,786
12504L109 CBRE GROUP INC	AT COST	15,542	18,098
278768106 ECHOSTAR CORPORATION	AT COST	1,477	1,285
G5480U104 LIBERTY GLOBAL PLC-A	AT COST	4,420	3,052
29476L107 EQUITY RESIDENTIAL P	AT COST	9,788	10,430
76131N101 RETAIL OPPORTUNITY I	AT COST	14,021	13,292
21870Q105 CORESITE REALTY CORP	AT COST	3,478	2,791
037833100 APPLE COMPUTER INC C	AT COST	84,237	115,939
097023105 BOEING COMPANY	AT COST	27,386	70,950
911312106 UNITED PARCEL SERVIC	AT COST	33,997	30,234
H84989104 TE CONNECTIVITY LTD	AT COST	30,367	32,521
82509L107 SHOPIFY INC - A W/I	AT COST	2,004	1,800
89400J107 TRANSUNION	AT COST	16,647	15,166
40171V100 GUIDEWIRE SOFTWARE I	AT COST	8,771	7,140
09215C105 BLACK KNIGHT INC	AT COST	18,468	18,880
44107P104 HOST HOTELS RESORTS	AT COST	12,175	10,585
444097109 HUDSON PACIFIC PROPE	AT COST	14,849	13,397
126650100 CVS/CAREMARK CORPORA	AT COST	45,651	35,708
254687106 WALT DISNEY CO	AT COST	29,687	33,443
375558103 GILEAD SCIENCES INC	AT COST	34,339	30,024
46625H100 JPMORGAN CHASE & CO	AT COST	20,507	18,060
H42097107 UBS GROUP AG	AT COST	14,512	10,214
867224107 SUNCOR ENERGY INC NE	AT COST	48,382	46,710
517834107 LAS VEGAS SANDS CORP	AT COST	26,533	27,066
172967424 CITIGROUP INC	AT COST	36,805	32,798
87234N765 TCW EMRG MKTS INCM-I	AT COST	430,000	410,960
85917K546 STERLING CAPITAL STR	AT COST	362,500	316,949
277923264 EATON VANCE GLOB MAC	AT COST	285,000	262,541
172967LQ2 CITIGROUP INC	AT COST	33,681	33,738
05565QCP1 BP CAPITAL MARKETS 3	AT COST	25,488	25,233
46625HKC3 JPMORGAN CHASE & CO	AT COST	24,029	23,818
404280AN9 HSBC HOLDING PLC 4.0	AT COST	20,120	20,261
052769106 AUTODESK INC COM	AT COST	6,968	16,719
217204106 COPART INC COM	AT COST	11,525	16,197
743315103 PROGRESSIVE CORP OHI	AT COST	6,535	9,894
530307107 LIBERTY BROADBAND CO	AT COST	3,182	3,806
48251W104 KKR & CO INC -A	AT COST	12,958	9,678
531229870 LIBERTY MEDIA GROUP	AT COST	598	743
G0408V102 AON PLC	AT COST	6,502	10,030
876664103 TAUBMAN CTRS INC COM	AT COST	6,020	5,004
92276F100 VENTAS INC COM	AT COST	4,716	5,742
866674104 SUN CMNTYS INC COM	AT COST	11,872	13,426
74340W103 PROLOGIS INC	AT COST	23,023	22,137
71943U104 PHYSICIANS REALTY TR	AT COST	20,019	21,576
Y2573F102 FLEXTRONICS INTL LTD	AT COST	26,184	13,127
17275R102 CISCO SYSTEMS INC	AT COST	69,205	82,544
771195104 ROCHE HOLDINGS LTD -	AT COST	44,681	39,782
03076C106 AMERIPRISE FINL INC	AT COST	19,892	22,961
09260C703 BLACKROCK GL L/S CRE	AT COST	380,000	363,516
14040HBU8 CAPITAL ONE FINANCIA	AT COST	24,849	24,328
66989HAJ7 NOVARTIS CAPITAL COR	AT COST	33,797	33,904
912828QN3 U S TREASURY NT 3.12	AT COST	35,485	35,519
406216BD2 HALLIBURTON COMPANY	AT COST	24,821	24,816
45168D104 IDEXX CORP	AT COST	5,887	5,209
929160109 VULCAN MATLS CO	AT COST	20,790	18,278
422806208 HEICO CORP CL A	AT COST	1,982	1,890
76131D103 RESTAURANT BRANDS IN	AT COST	23,794	25,679
29444U700 EQUINIX INC	AT COST	36,304	32,436
86614U100 SUMMIT MATERIALS INC	AT COST	5,394	3,571
489398107 KENNEDY-WILSON HOLDI	AT COST	9,060	7,977
78409V104 S&P GLOBAL INC	AT COST	4,954	9,687
40416M105 HD SUPPLY HOLDINGS I	AT COST	1,604	1,463
015271109 ALEXANDRIA REAL ESTA	AT COST	14,936	14,175
883556102 THERMO FISHER SCIENT	AT COST	27,013	46,996
89151E109 TOTAL FINA ELF S.A.	AT COST	42,819	43,831
20030N101 COMCAST CORP CLASS A	AT COST	24,858	25,538
00206R102 AT & T INC	AT COST	48,778	43,524
12572Q105 CME GROUP INC	AT COST	11,534	13,168
98978V103 ZOETIS INC	AT COST	22,657	31,222
77956H435 T ROWE PR OVERSEAS S	AT COST	355,000	314,200
46434G103 ISHARES CORE MSCI EM	AT COST	289,562	282,900
912828M56 US TREASURY NOTE	AT COST	33,427	34,228
912828S35 US TREASURY NOTE	AT COST	46,891	47,606
071813BR9 BAXTER INTERNATIONAL	AT COST	49,948	47,970
464288588 ISHARES BARCLAYS MBS	AT COST	15,551	15,698
256206103 DODGE & COX INT'L ST	AT COST	390,000	318,002
00203H859 AQR MANAGED FUTURES	AT COST	235,000	214,357
00888Y508 INV BALANCE RISK COM	AT COST	100,000	92,582
05531FAZ6 BB&T CORPORATION	AT COST	49,597	48,948
9128283H1 US TREASURY NOTE	AT COST	24,970	24,804
59156RBH0 METLIFE INC 3.600% 4	AT COST	25,056	25,172
912828N30 US TREASURY NOTE	AT COST	49,270	49,295
00287YAL3 ABBVIE INC 2.900% 11	AT COST	24,831	24,326
311900104 FASTENAL CO	AT COST	5,264	5,804
570535104 MARKEL HOLDINGS	AT COST	28,857	31,142
595017104 MICROCHIP TECHNOLOGY	AT COST	11,470	12,946
91879Q109 VAIL RESORTS INC COM	AT COST	15,349	11,595
03662Q105 ANSYS INC	AT COST	17,562	14,723
143130102 CARMAX INC	AT COST	24,020	26,221
33616C100 FIRST REPUBLIC BANK/	AT COST	18,997	16,859
M98068105 WIX.COM LTD	AT COST	10,895	10,389
46187W107 INVITATION HOMES INC	AT COST	11,266	10,442
023135106 AMAZON COM INC	AT COST	6,357	112,648
192446102 COGNIZANT TECH SOLUT	AT COST	49,634	54,593
26875P101 EOG RESOURCES, INC	AT COST	35,547	26,163
56501R106 MANULIFE FINANCIAL C	AT COST	35,743	35,901
609207105 MONDELEZ INTERNATION	AT COST	44,263	42,032
G29183103 EATON CORP PLC	AT COST	23,125	24,374
63872T885 ASG GLOBAL ALTERNATI	AT COST	150,000	141,113
912828WJ5 US TREASURY NOTE 2.5	AT COST	48,957	49,908
3130A7CV5 FED HOME LN BK	AT COST	74,697	73,257
912828U24 US TREASURY NOTE	AT COST	37,125	38,183
86562MAQ3 SUMITOMO MITSUI FINL	AT COST	33,936	34,104
9128282Z2 US TREASURY NOTE	AT COST	24,631	24,610
573284106 MARTIN MARIETTA MATL	AT COST	25,410	22,343
608190104 MOHAWK INDS INC COM	AT COST	6,262	4,211
776696106 ROPER INDS INC NEW C	AT COST	9,772	15,192
778296103 ROSS STORES INC	AT COST	917	1,414
531229409 LIBERTY SIRIUSXM GRO	AT COST	2,788	3,128
55354G100 MSCI INC	AT COST	4,962	5,897
G5480U120 LIBERTY GLOBAL PLC-S	AT COST	8,567	5,820
194014106 COLFAX CORPORATION	AT COST	10,046	7,378
74460D109 PUBLIC STORAGE INC C	AT COST	9,309	9,311
828806109 SIMON PROPERTY GROUP	AT COST	22,853	24,359
42225P501 HEALTHCARE TRUST OF	AT COST	7,001	6,631
35086T109 FOUR CORNERS PROPERT	AT COST	9,944	11,449
872540109 TJX COS INC NEW	AT COST	17,998	22,370
907818108 UNION PACIFIC CORP	AT COST	19,035	67,733
22160K105 COSTCO WHOLESALE COR	AT COST	6,735	30,557
87612E106 TARGET CORP	AT COST	13,964	24,784
084670702 BERSHIRE HATHAWAY IN	AT COST	61,981	142,926
02079K107 ALPHABET INC/CA	AT COST	34,366	98,383
848574109 SPIRIT AEROSYTSEMS H	AT COST	18,033	22,348
4812C0803 JPMORGAN HIGH YIELD	AT COST	152,000	141,197
683974604 OPPENHEIMER DEVELOPI	AT COST	531,736	569,378
64128R608 NEUBERGER BERMAN LON	AT COST	410,000	361,055
9128283P3 US TREASURY NOTE	AT COST	48,957	49,125
9128283Q1 US TREASURY NOTE	AT COST	49,713	49,496
9128283W8 US TREASURY NOTE	AT COST	24,558	25,129
3135G0ZR7 FED NATL MTG ASSN 2.	AT COST	73,360	74,739
161571GX6 CHASE ISSUANCE TRUST	AT COST	101,984	98,506
912828XQ8 US TREASURY NOTE	AT COST	33,935	34,423
38141GRD8 GOLDMAN SACHS GROUP	AT COST	25,513	24,607
009158106 AIR PRODUCTS AND CHE	AT COST	12,396	15,045
526057104 LENNAR CORPORATION C	AT COST	8,623	6,812
366651107 GARTNER INC	AT COST	26,308	26,846
G0450A105 ARCH CAPITAL GROUP L	AT COST	13,826	13,574
530307305 LIBERTY BROADBAND CO	AT COST	4,155	5,834
92345Y106 VERISK ANALYTICS INC	AT COST	14,437	18,646

Description	Amount
MUTUAL FUND TIMING DIFFERENCE	2,364
PY RETURN OF CAPITAL ADJUSTMENT	4,839

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
FILING FEE/STATE TAX	10	0	10
INVESTMENT EXPENSES	136	136	0
REAL ESTATE ASSET FEE	150,200	150,200	0
RENTAL EXPENSES	45,521	45,521	0

Category	Amount	Net Investment Income
FOREIGN TAXES	4,528	4,528
FEDERAL TAX PAYMENT - PRIOR YE	2,986	0
FEDERAL ESTIMATES - PRINCIPAL	6,048	0
FOREIGN TAXES ON NONQUALIFIED	1,932	1,932