| Description of Property | Date Acquired | Cost or Other Basis | Prior Years' Depreciation | Computation Method | Rate / Life (# of years) |
Current Year's Depreciation Expense | Net Investment Income | Adjusted Net Income | Cost of Goods Sold Not Included |
|---|
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| BANK AMER CORP - 4.125% - 01/2 | 10,677 | 10,058 |
| BP CAP MKTS P L C NOTE CALL - | 5,895 | 5,646 |
| CITIGROUP INC NOTE - 3.668% - | 8,131 | 7,501 |
| ENTERPRISE PRODUCTS - 5.700% - | 5,583 | 5,347 |
| ESCROW GENL MOTORS CORP - 0.00 | ||
| GE CAP CORP NTS - 5.875% - 01/ | 9,174 | 7,227 |
| GOLDMAN SACHS GROUP INC - 4.00 | 7,406 | 6,953 |
| JPM CHASE - 4.400% - 07/22/202 | 9,760 | 9,153 |
| MICROSOFT CORP - 4.250% - 02/0 | 10,056 | 9,081 |
| SHELL INT'L FINANCE - 2.875% - | 8,947 | 8,412 |
| VERIZON COMMUNICATIONS INC - 5 | 10,336 | 9,542 |
| WELLS FARGO &CO MTN - 3.584% - | 9,139 | 8,565 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ACCENTURE PLC | 13,241 | 18,757 |
| ACS ACTIVIDADES CO UNSP ADR | 1,620 | 2,125 |
| ACUSHNET HOLDINGS CORP | 4,140 | 5,155 |
| ADIENT PLC | 10,666 | 5,354 |
| AERCAP HOLDING N.V | 2,663 | 3,355 |
| AGREE REALTY CORP | 1,536 | 2,405 |
| AIA GROUP LTD ADR | 2,047 | 2,383 |
| AIRBUS GROUP | 1,078 | 2,069 |
| ALASKA AIR GROUP INC | 6,341 | 5,896 |
| ALBANY INTERNATIONAL CORP | 1,838 | 2,379 |
| ALBEMARLE CP | 1,477 | 1,588 |
| ALLETE INC | 3,871 | 4,958 |
| ALLIANT CORP | 4,741 | 5,888 |
| ALPHABET INC CL A | 9,027 | 13,087 |
| APPLE INC | 5,555 | 13,788 |
| ARCELORMITTAL | 1,735 | 1,892 |
| ASSURED GUARANTY LTD | 5,937 | 6,717 |
| AT&T, INC | 15,372 | 12,609 |
| AUTOLIV INC | 7,774 | 7,167 |
| AVERY DENNISON CORP | 2,940 | 3,266 |
| AXA ADS | 1,889 | 2,073 |
| B&G FOODS INC | 11,667 | 9,322 |
| BAE SYSTEMS PLC | 2,308 | 1,833 |
| BAIDU.COM - ADR | 1,834 | 1,901 |
| BANCO LATINOAMERICANO DE COMER | 5,223 | 3,175 |
| BANCO SANTANDER CEN | 2,882 | 2,084 |
| BANK OF AMERICA CORP | 11,541 | 12,623 |
| BANK OZK | 8,776 | 6,211 |
| BASF AG SPONS ADR | 2,253 | 1,901 |
| BGC PARTNERS INC | 8,770 | 8,292 |
| BHP BILLITON SP ADR | 1,710 | 2,294 |
| BIOGEN INC | 10,696 | 11,867 |
| BLACKROCK HIGH YIELD BOND PORT | 118,671 | 110,817 |
| BLACKROCK INC | 10,864 | 10,697 |
| BOK FINANCIAL CORP | 1,887 | 3,172 |
| BRISTOL-MYERS SQUIBB CO | 14,111 | 11,473 |
| BRITISH AMERICAN TOBACCO PLC | 2,859 | 1,953 |
| BROADRIDGE FINANCIAL | 697 | 1,169 |
| CALRSBERG AS SP ADR REP B | 1,754 | 2,230 |
| CHEVRON CORP | 18,731 | 17,752 |
| CHUBB LIMITED | 9,209 | 9,743 |
| CK HUTCHISON HLDGS | 2,198 | 1,730 |
| COLGATE-PALMOLIVE COMPANY | 13,392 | 11,791 |
| COMCAST CORP | 12,972 | 13,540 |
| CONSOLIDATED COMMUNICATIONS HO | 2,707 | 2,466 |
| CRANE CO | 12,227 | 15,319 |
| CTRIP.COM INTERNATIONAL LTD | 2,302 | 1,631 |
| CULLEN FROST BANKERS INC | 2,908 | 4,798 |
| DAIMLER AG ADR | 2,422 | 1,800 |
| DBS GROUP HLDGS SPON ADR | 1,290 | 1,906 |
| DELEK US HLDGS INC | 1,821 | 1,799 |
| DEUTSCHE BOERSE ADR | 1,936 | 2,279 |
| DEUTSCHE GLOBAL INFRASTRUCTURE | 50,000 | 45,388 |
| DEUTSCHE POST AG | 2,931 | 2,270 |
| DIAGEO PLC ADS | 9,944 | 11,191 |
| DNB NOR ASA SPONSOR ADR | 1,628 | 2,075 |
| DONALDSON CO. INC | 1,510 | 2,154 |
| DRIEHAUS EMERGING MARKETS GROW | 65,000 | 69,988 |
| E.ON AG SPON ADR REP 1/3 ORD N | 1,927 | 2,135 |
| EAST WEST BANCORP, INC | 2,914 | 3,933 |
| EASTGROUP PROPERTIES INC | 1,148 | 1,916 |
| ENERGIZER HOLDINGS INC | 1,340 | 1,410 |
| ENGIE | 2,429 | 2,082 |
| ENLINK MIDSTREAM LLC | 6,535 | 6,357 |
| ENTERCOM COMMUN CP | 4,328 | 2,492 |
| EPR PROPERTIES | 6,458 | 7,630 |
| ESSILOR INTL ADR | 2,066 | 2,390 |
| EVERGY, INC. | 4,789 | 5,655 |
| FANUC LIMITED UNSPONSORED | 2,324 | 2,029 |
| FIDELITY NATIONAL FINANCIAL IN | 3,495 | 4,315 |
| FINANCIAL SELECT SECTOR SPDR F | 9,253 | 9,145 |
| FORTIS INC | 1,544 | 1,618 |
| FOUR CORNERS PROPERTY TRUST IN | 1,841 | 1,904 |
| FULLER H B CO | 4,453 | 3,690 |
| GALLAGHER ARTHUR J & CO | 2,856 | 4,071 |
| GARMIN LTD | 1,320 | 1,919 |
| GILEAD SCIENCES INC | 15,144 | 13,159 |
| GOLDMAN SACHS GROUP | 14,393 | 13,297 |
| GROUPE DANONE ADS | 2,326 | 2,094 |
| HASBRO INC | 4,880 | 4,769 |
| HAWAIIAN HOLDINGS INC | 4,125 | 3,946 |
| HERCULES TECHNOLOGY GROWTH | 2,875 | 2,581 |
| HNI CORP | 2,965 | 2,425 |
| HOME DEPOT INC | 14,470 | 18,467 |
| HOPE BANCORP INC | 3,607 | 2,853 |
| HSBC HOLDINGS PLC | 2,096 | 2,013 |
| HUBBELL INCORPORATED | 2,467 | 2,339 |
| HUNTSMAN CORP | 1,918 | 3,545 |
| IDEX CP | 1,437 | 2,410 |
| INDUSTRIA DE DISENO | 2,300 | 1,939 |
| INGREDION INC | 4,041 | 3,744 |
| INTEL CORP | 18,444 | 23,206 |
| INTESA SANPAOLO SPA | 2,122 | 1,880 |
| ISHARE SP SMALL CAP 600 INDEX | 11,860 | 16,703 |
| ISHARES CORE MSCI EAFE ETF | 27,215 | 27,627 |
| ISHARES CORE MSCI EMERGING MAR | 23,924 | 24,528 |
| ISHARES MSCI CHINA INDEX FUND | 6,289 | 7,402 |
| ISHARES TRUST MSCI EAFE INDEX | 55,610 | 60,024 |
| J2 GLOBAL INC | 3,000 | 2,841 |
| JAMES RIVER GROUP HOLDINGS LTD | 6,276 | 6,276 |
| JOHNSON & JOHNSON | 24,234 | 25,618 |
| JP MORGAN CHASE | 32,462 | 34,450 |
| JULIUS BAER GROUP LTD | 2,236 | 2,129 |
| KAR AUCTION SERVICES INC | 4,525 | 5,637 |
| KONINKLIJKE DSM NV ADR | 1,564 | 2,118 |
| KRAFT HEINZ CO | 18,034 | 12,863 |
| KUBOTA CORPORATION | 2,302 | 2,196 |
| KULICKE AND SOFFA INDUSTRIES, | 4,992 | 4,025 |
| LCI INDUSTRIES | 3,043 | 2,150 |
| LEIDOS HOLDINGS INC | 3,727 | 5,312 |
| LINCOLN ELECTRIC HOLDING INC | 2,416 | 2,670 |
| LINDE PLC COM | 8,336 | 8,439 |
| LITTELFUSE, INC | 4,390 | 5,616 |
| LLOYDS BANKING GROUP PLC | 2,325 | 1,828 |
| LOCKHEED MARTIN CORP | 6,172 | 8,228 |
| MARSH AND MCLENNAN COMPANIES I | 8,487 | 13,052 |
| MASTERCARD INC | 6,098 | 12,453 |
| MCDONALD'S CORP | 12,233 | 15,921 |
| MEDICAL PROPERTIES TRUST, INC | 7,909 | 8,975 |
| MEDTRONIC PLC | 26,139 | 28,653 |
| MICROSOFT CORP | 25,367 | 47,958 |
| MKS INSTRUMENTS, INC | 9,598 | 7,222 |
| MSA SAFETY INCORPORATED | 2,134 | 4,595 |
| MURATA MFG INC UNSP/ADR | 2,057 | 2,323 |
| NATIONAL RETAIL PROPERTIES INC | 2,421 | 2,665 |
| NATL HEALTH INVESTOR | 2,255 | 2,498 |
| NEXTERA ENERGY, INC | 11,439 | 13,800 |
| NORDEA BANK ABP | 2,228 | 1,823 |
| NORDSON CP | 2,910 | 4,784 |
| NOVARTIS AG ADR | 10,982 | 12,507 |
| OMEGA HEALTHCARE INV | 7,138 | 8,404 |
| OPPENHEIMER SR FLT RATE FD Y | 100,404 | 96,222 |
| ORANGE | 1,978 | 1,788 |
| OTSUKA HOLDINGS CO | 1,477 | 2,241 |
| PACKAGING CORP AMER | 2,156 | 2,846 |
| PACWEST BANCORP | 8,094 | 7,515 |
| PAYPAL HOLDINGS, INC | 5,832 | 13,049 |
| PHILIP MORRIS INTL | 2,965 | 2,554 |
| PIMCO ENHANCED SHORT MATURITY | 6,097 | 6,095 |
| PNM RESOURCES INC | 976 | 1,306 |
| PROCTER GAMBLE CO | 12,722 | 14,544 |
| RAMCO-GERSHENSON PROPERTIES-RP | 2,821 | 3,001 |
| REPSOL YPF S A ADR | 2,271 | 2,034 |
| REPUBLIC SVCS INC | 10,356 | 10,684 |
| ROCHE HOLDING LTD ADR | 2,573 | 2,398 |
| ROCKWELL AUTOMATION INC | 5,430 | 8,566 |
| ROYAL DUTCH SHELL CL A | 2,025 | 2,464 |
| RPM INTERNATIONAL INC | 2,427 | 2,936 |
| SAP AKTIENGESELL ADS | 2,574 | 2,467 |
| SCHLUMBERGER LTD | 2,549 | 1,745 |
| SECOM CO LTD ADR OTC | 1,800 | 2,509 |
| SEVEN & I HOLDINGS C | 2,290 | 2,433 |
| SMITH & NEPHEW PLC ADR | 2,069 | 1,973 |
| SNAP ON INC | 6,449 | 6,465 |
| STARBUCKS CORP COM | 14,216 | 14,276 |
| STERIS. PLC | 5,490 | 8,417 |
| SUMITOMO MITSUI FINCL GRP | 2,271 | 2,310 |
| SUNCOR ENERGY INC | 11,055 | 11,325 |
| SUNTRUST BKS INC | 14,205 | 13,535 |
| T. ROWE PRICE HEALTH SCIENCES | 60,000 | 57,420 |
| TANGER FACTORY OUTLET CENTERS | 3,865 | 3,317 |
| TARGA RESOURCES CORP | 4,372 | 8,267 |
| TELEFLEX INC | 2,700 | 4,333 |
| TEMPLETON GLOBAL BD | 79,000 | 71,015 |
| TEXAS INSTRUMENTS INC | 7,948 | 12,532 |
| THE COCA-COLA CO | 12,498 | 13,598 |
| TJX COMPANIES INC | 7,470 | 13,845 |
| TORAY INDUSTRIES INC | 2,263 | 1,577 |
| TOTAL FINA ELF S.A | 1,959 | 2,344 |
| TRAVELPORT WORLDWIDE LIMITED | 6,731 | 7,420 |
| UNION PACIFIC | 9,193 | 14,183 |
| UNITED TECHNOLOGIES CORP | 10,222 | 12,173 |
| UNITEDHEALTH GROUP INC | 7,265 | 13,590 |
| USD CYRUSONE INC | 6,933 | 5,962 |
| V F CORP | 6,424 | 8,951 |
| VAN ECK GLOBAL HARD ASSETS FUN | 20,000 | 18,512 |
| VANGUARD GROWTH ETF | 12,485 | 17,719 |
| VANGUARD LG-CAP ETF | 50,794 | 61,270 |
| VANGUARD MID-CAP ETF | 23,018 | 28,890 |
| VANGUARD TOTAL WORLD STK INDEX | 2,824 | 2,936 |
| VANGUARD VALUE ETF | 19,386 | 24,715 |
| VERMILION ENERGY | 7,315 | 5,684 |
| WAL-MART STORES INC | 14,615 | 14,440 |
| WALT DISNEY HOLDINGS CO | 9,512 | 14,354 |
| WASHINGTON TRUST BANCORP INC | 2,300 | 3,184 |
| WESTERN ASSET SMASH SERIES C F | 38,597 | 38,059 |
| WESTERN ASSET SMASH SERIES EC | 106,993 | 98,314 |
| WESTERN ASSET SMASH SERIES M F | 115,404 | 112,194 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| ASPEN STILLWATER PROPERTIES, L | 884,638 | 1,024,317 | |
| MCGREW-MEYERS HOLDINGS, L.L.C. | 474,470 | 474,470 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Administrative Fees | 21,752 | 21,752 | ||
| Bank Charges | 131 | 131 | ||
| K-1 Exp MCGREW-MEYERS HOLDINGS | 342 | 342 | ||
| REGISTERED AGENT FEE | 199 | 199 | ||
| State or Local Filing Fees | 50 | 50 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| K-1 Inc/Loss ASPEN STILLWATER PROPERTIES, LLC | 235 | 235 | |
| K-1 Inc/Loss MCGREW-MEYERS HOLDINGS, L.L.C. | 194 | 194 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Investment Management Services | 28,849 | 28,849 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| 990-PF Estimated Tax for 2018 | 2,300 | |||
| Foreign Tax Paid | 845 | 845 |