| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AKRE FOCUS FUND-SUPRA | 51,037 | 76,712 |
| ALLEGION PLC | 4,974 | 4,783 |
| ALPHABET INC | 15,834 | 14,499 |
| ALPS SERIES TRUST CLARKSTON PARTNERS FUND FOUNDERS | 43,431 | 47,623 |
| BBH INCOME FUND-I | 41,780 | 42,039 |
| BBH INTERNATIONAL EQUITY FUND CL N | 113,019 | 108,121 |
| BBH LIMITED DURATION FUND CL N | 42,781 | 42,586 |
| BERKSHIRE HATHAWAY INC - CL B | 10,119 | 25,522 |
| BROWN-FORMAN CORP CLASS B | 2,297 | 2,379 |
| CELANESE CORP SERIES A | 4,062 | 7,647 |
| COMCAST CORP CL A | 19,538 | 17,876 |
| COPART INC | 6,643 | 6,211 |
| DIAGEO PLC - SPONSORED ADR | 8,187 | 12,053 |
| DISCOVERY INC-C (FKA DISCOVERY COMMUNICATIONS-C) | 6,000 | 5,747 |
| DOLLAR GENERAL CORP COM STK | 4,492 | 4,756 |
| FLEETCOR TECHONOLIGES INC COM STK | 8,727 | 12,072 |
| GQG PART EMERG MKTS EQ-INST | 22,666 | 20,792 |
| HENRY SCHEIN INC | 7,043 | 7,852 |
| KLA-TENCOR CORP | 3,966 | 3,580 |
| KROGER CO COM STK | 6,069 | 7,892 |
| LIBERTY GLOBAL PLC-SERIES C | 9,547 | 6,502 |
| LINDE PLC | 9,317 | 8,894 |
| LONGLEAF PARTNERS SMALL CAP FD | 29,441 | 23,421 |
| NESTLE S A SPONS ADR | 6,501 | 6,639 |
| NOVARTIS AG - ADR | 10,696 | 16,733 |
| ORACLE CORP | 16,130 | 18,602 |
| PAYPAL HOLDINGS INC | 1,428 | 5,634 |
| PERRIGO CO PLC COM STK | 11,402 | 4,611 |
| QUALCOMM INC | 9,479 | 9,049 |
| QURATE RETAIL INC. SERIES A | 6,863 | 7,535 |
| SABRE CORP COM STK | 7,138 | 7,271 |
| UNILEVER N V - NY SHARES | 4,390 | 6,187 |
| US BANCORP | 9,907 | 14,395 |
| WASTE MANAGEMENT | 2,072 | 5,250 |
| WELLS FARGO | 10,789 | 8,479 |
| ZOETIS INC | 8,848 | 9,666 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| NYS ANNUAL FILING FEE | 250 | 0 | 0 | |
| INVESTMENT EXPENSES | 4,917 | 4,917 | 0 | |
| BANK CHARGES | 3 | 3 | 0 | |
| MISCELLANEOUS | 160 | 0 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FEDERAL EXCISE TAX | 3,747 | 0 | 0 |