| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| TAX RETURN PREPARATION FEE | 2,375 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AFFILATED MANAGERS GROUP | 282,425 | 757,429 |
| AMERICAN TOWER CORP | 496,650 | 746,520 |
| ARES CAPITAL | 840,026 | 944,762 |
| AUTONATION INC | 326,919 | 286,280 |
| BERKSHIRE HATHAWAY | 325,110 | 873,569 |
| BROOKFIELD ASSET MANAGEMENT | 561,405 | 1,099,446 |
| CENTURYLINK INC | 329,116 | 419,760 |
| DISCOVER FINANCIAL SVCS | 553,654 | 720,159 |
| DISCOVERY INC | 494,799 | 591,600 |
| EXPRESS SCRIPTS HLDG CO | 418,653 | 683,122 |
| HANESBRANDS INC. | 238,481 | 203,651 |
| KINDER MORGAN INC | 667,539 | 431,726 |
| LKQ CORP | 316,708 | 272,362 |
| OAKTREE SPECIALTY LENDING CORP | 275,133 | 286,688 |
| PENSKE AUTOMOTIVE GROUP INC | 255,049 | 272,019 |
| QUALCOMM INC | 460,079 | 590,646 |
| RADIAN GROUP | 386,123 | 1,524,206 |
| RANGE RESOURCES CORP | 499,722 | 342,348 |
| RYMAN HOSPITALITY PPTYS | 486,975 | 811,025 |
| SIMON PROPERTY GROUP | 203,266 | 212,100 |
| TAIWAN SEMICOND ADS | 188,436 | 406,272 |
| TRISURA GROUP LTD | 1,405 | 3,090 |
| U.S. SILCA HLDGS | 383,244 | 223,504 |
| VENTAS INC. | 490,503 | 485,496 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| NET UNREALIZED APPRECIATION | 453,395 | 453,395 |
| Description | Amount |
|---|---|
| PY DIVIDEND RECLASSIFICATION | 14,228 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAX WITHHELD | 4,162 | 4,162 | ||
| 2017 ESTIMATED TAX PAYMENTS | 16,440 | |||
| 2016 BALANCE DUETAXES PAID | 5,360 | |||
| 2016 ADDITIONAL TAX PAID | 155 |