Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
bulletDo not enter social security numbers on this form as it may be made public.
bulletGo 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
THE HOFFMANN SCHROEPFER FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)314 LYTTON AVE
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
PALO ALTO, CA94301
A Employer identification number

81-4429034
B Telephone number (see instructions)

(650) 804-7100
C bullet
G Check all that apply:

D 1. Foreign organizations, check here............. bullet
2. Foreign organizations meeting the 85%
test, check here and attach computation ... bullet
E bullet
H Check type of organization:
F bullet
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)bullet$120,152,270J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I 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)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule) 44,609,740
2 Check bullet.............
3 Interest on savings and temporary cash investments      
4 Dividends and interest from securities... 2,223,840 2,223,840  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -1,009,475
b Gross sales price for all assets on line 6a 55,650,878
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
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)....... Click to see attachment 23,000 0  
12 Total. Add lines 1 through 11........ 45,847,105 2,223,840  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment 3,929 0   0
c Other professional fees (attach schedule).... Click to see attachment 498,609 498,609   0
17 Interest...............        
18 Taxes (attach schedule) (see instructions)... Click to see attachment 63,538 63,538   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings.......        
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment 194,238 193,928   310
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 760,314 756,075   310
25 Contributions, gifts, grants paid....... 819,438 1,673,868
26 Total expenses and disbursements. Add lines 24 and 25 1,579,752 756,075   1,674,178
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements 44,267,353
b Net investment income (if negative, enter -0-) 1,467,765
c Adjusted net income (if negative, enter -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 Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 9,249,490 27,564,353 27,564,353
3 Accounts receivable bullet  
Less: allowance for doubtful accounts bullet        
4 Pledges receivable bullet  
Less: allowance for doubtful accounts bullet        
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) bullet  
Less: allowance for doubtful accounts bullet        
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........   20,000 20,000
10a Investments—U.S. and state government obligations (attach schedule) 11,723,646 Click to see attachment17,348,004 17,348,004
b Investments—corporate stock (attach schedule)....... 33,326,213 Click to see attachment42,678,913 42,678,913
c Investments—corporate bonds (attach schedule)....... 19,578,348 Click to see attachment32,285,882 32,285,882
11 Investments—land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 8,340,487 Click to see attachment255,118 255,118
14 Land, buildings, and equipment: basis bullet  
Less: accumulated depreciation (attach schedule) bullet        
15 Other assets (describe bullet)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 82,218,184 120,152,270 120,152,270
Liabilities 17 Accounts payable and accrued expenses..........   8,929
18 Grants payable................. 2,168,918 1,314,489
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 bullet) Click to see attachment152,000 Click to see attachment39,000
23 Total liabilities (add lines 17 through 22)......... 2,320,918 1,362,418
Net Assets or Fund Balances Foundations that follow SFAS 117, check here bullet
and complete lines 24 through 26 and lines 30 and 31.
24 Unrestricted.................. 79,897,266 118,789,852
25 Temporarily restricted...............    
26 Permanently restricted...............    
Foundations that do not follow SFAS 117, check here bullet
and complete lines 27 through 31.
27 Capital stock, trust principal, or current funds........    
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)..... 79,897,266 118,789,852
31 Total liabilities and net assets/fund balances (see instructions). 82,218,184 120,152,270
Part III
Analysis of Changes in Net Assets or Fund Balances
1
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) ...............
1
79,897,266
2
Enter amount from Part I, line 27a .....................
2
44,267,353
3
Other increases not included in line 2 (itemize) bullet
3
0
4
Add lines 1, 2, and 3 ..........................
4
124,164,619
5
Decreases not included in line 2 (itemize) bulletClick to see attachment
5
5,374,767
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .
6
118,789,852
Form 990-PF (2018)
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 PUBLICLY TRADED SECURITIES      
b ALTERNATIVE INVESTMENTS P    
c
d
e
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 47,384,374   51,000,198 -3,615,824
b 8,266,504   8,000,000 266,504
c
d
e
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       -3,615,824
b       266,504
c
d
e
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 -3,349,320
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 ................... 		Bracket 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?
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 567,568 47,571,357 0.011931
2016 0 21,627,468 0.000000
2015      
2014      
2013      
2
Total of line 1, column (d) .....................
2
0.011931
3
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 ......
3
0.005966
4
Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......
4
79,486,354
5
Multiply line 4 by line 3......................
5
474,216
6
Enter 1% of net investment income (1% of Part I, line 27b)...........
6
14,678
7
Add lines 5 and 6........................
7
488,894
8
Enter qualifying distributions from Part XII, line 4,.............
8
1,674,178
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)
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 Bullet and enter “N/A" on line 1. Bracket includes lines 1a and 1b
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 14,678
hereBulletand 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 14,678
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 14,678
6 Credits/Payments:
a 2018 estimated tax payments and 2017 overpayment credited to 2018 6a 19,661
b Exempt foreign organizations—tax withheld at source...... 6b
c Tax paid with application for extension of time to file (Form 8868)... 6c 20,000
d Backup withholding erroneously withheld ........... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 39,661
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. Click to see attachment 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......Bullet 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...Bullet 10 24,983
11 Enter the amount of line 10 to be: Credited to 2019 estimated taxBullet24,983 RefundedBullet 11 0
Part VII-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? (see Instructions
for definition).................................
1b
 
No
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.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. bullet$ 0(2) On foundation managers.bullet$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.bullet$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
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....
3
 
No
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?........
4a
 
No
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
 
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
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?................
    6
    Yes
     
    7
    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..................................
    7
    Yes
     
    8a
    Enter the states to which the foundation reports or with which it is registered (see instructions)
    bulletCA
    b
    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 .
    8b
    Yes
     
    9
    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 .............................
    9
     
    No
    10
    Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
    and addresses. ...............................
    10
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 5
    Part VII-A
    Statements Regarding Activities (continued)
    11
    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 .............
    11
     
    No
    12
    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.................
    12
     
    No
    13
    Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
    13
    Yes
     
    Website addressbulletN/A
    14
    The books are in care ofbulletAPERCEN PARTNERS LLC Telephone no.bullet (650) 804-7100

    Located atbullet314 LYTTON AVENUE SUITE 200PALO ALTOCA ZIP+4bullet94301
    15
    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
    15
     
    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
    No
    1a
    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?
    (2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
    a disqualified person?......................
    (3) Furnish goods, services, or facilities to (or accept them from) a disqualified person?
    (4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person?
    (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)?...............
    (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.).......
    b
    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 ........
    1b
     
     
    ........bullet
    c
    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?.............
    1c
     
    No
    2
    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)):
    a
    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?.............
    If "Yes," list the years bullet20, 20, 20, 20
    b
    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.) ..............
    2b
     
     
    c
    If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
    bullet20, 20, 20, 20
    3a
    Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
    any time during the year?......................
    b
    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.)..................
    3b
     
     
    4a
    Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
    4a
     
    No
    b
    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?
    4b
     
    No
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 6
    Part VII-B
    Statements Regarding Activities for Which Form 4720 May Be Required (continued)
    5a
    During the year did the foundation pay or incur any amount to:
    Yes
    No
    (1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))?
    (2) Influence the outcome of any specific public election (see section 4955); or to carry
    on, directly or indirectly, any voter registration drive?.............
    (3) Provide a grant to an individual for travel, study, or other similar purposes?
    (4) Provide a grant to an organization other than a charitable, etc., organization described
    in section 4945(d)(4)(A)? See instructions................
    (5) Provide for any purpose other than religious, charitable, scientific, literary, or
    educational purposes, or for the prevention of cruelty to children or animals?.....
    b
    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 ......
    5b
     
     
    .........bullet
    c
    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?..........
    If "Yes," attach the statement required by Regulations section 53.4945–5(d).
    6a
    Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
    a personal benefit contract?.....................
    b
    Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
    6b
     
    No
    If "Yes" to 6b, file Form 8870.
    7a
    At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
    b
    If yes, did the foundation receive any proceeds or have any net income attributable to the transaction? ....
    7b
     
     
    8
    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? .................
    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-)     		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
    other allowances
    ERIN HOFFMANN PRESIDENT/CHAIRMAN/DIRECTOR
    6.00     		0 0 0
    314 LYTTON AVE
    PALO ALTO,CA94301
    MICHAEL SCHROEPFER SECRETARY/CFO/DIRECTOR
    1.00     		0 0 0
    314 LYTTON AVE
    PALO ALTO,CA94301
    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...................bullet 0
    Form 990-PF (2018)
    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
    ICONIQ CAPITAL CUSTODY INVESTMENT MANAGEMENT 449,324
    394 PACIFIC AVENUE
    SAN FRANCISCO,CA94111
    Total number of others receiving over $50,000 for professional services.............bullet0
    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.........................bullet0
    Form 990-PF (2018)
    Form 990-PF (2018)
    Page 8
    Part X
    Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations,see instructions.)
    1
    Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
    purposes:
    a
    Average monthly fair market value of securities...................
    1a
    70,391,237
    b
    Average of monthly cash balances.......................
    1b
    10,050,451
    c
    Fair market value of all other assets (see instructions)................
    1c
    255,118
    d
    Total (add lines 1a, b, and c).........................
    1d
    80,696,806
    e
    Reduction claimed for blockage or other factors reported on lines 1a and
    1c (attach detailed explanation) .............
    1e
    0
    2
    Acquisition indebtedness applicable to line 1 assets..................
    2
    0
    3
    Subtract line 2 from line 1d.........................
    3
    80,696,806
    4
    Cash deemed held for charitable activities. Enter 1 1/2% of line 3 (for greater amount, see
    instructions) .............................
    4
    1,210,452
    5
    Net value of noncharitable-use assets. Subtract line 4 from line 3. Enter here and on Part V, line 4
    5
    79,486,354
    6
    Minimum investment return. Enter 5% of line 5..................
    6
    3,974,318
    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.)
    1
    Minimum investment return from Part X, line 6....................
    1
    3,974,318
    2a
    Tax on investment income for 2018 from Part VI, line 5......
    2a
    14,678
    b
    Income tax for 2018. (This does not include the tax from Part VI.)...
    2b
     
    c
    Add lines 2a and 2b............................
    2c
    14,678
    3
    Distributable amount before adjustments. Subtract line 2c from line 1............
    3
    3,959,640
    4
    Recoveries of amounts treated as qualifying distributions................
    4
    0
    5
    Add lines 3 and 4............................
    5
    3,959,640
    6
    Deduction from distributable amount (see instructions).................
    6
    0
    7
    Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XIII, line 1 ...
    7
    3,959,640
    Part XII
    Qualifying Distributions (see instructions)
    1
    Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
    a
    Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
    1a
    1,674,178
    b
    Program-related investments—total from Part IX-B..................
    1b
    0
    2
    Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
    purposes...............................
    2
     
    3
    Amounts set aside for specific charitable projects that satisfy the:
    a
    Suitability test (prior IRS approval required)....................
    3a
     
    b
    Cash distribution test (attach the required schedule) .................
    3b
     
    4
    Qualifying distributions. Add lines 1a through 3b. Enter here and on Part V, line 8, and Part XIII, line 4
    4
    1,674,178
    5
    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.................
    5
    14,678
    6
    Adjusted qualifying distributions. Subtract line 5 from line 4..............
    6
    1,659,500
    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)
    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 3,959,640
    2 Undistributed income, if any, as of the end of 2018:
    a Enter amount for 2017 only....... 1,555,432
    b Total for prior years:20, 20, 20 0
    3 Excess distributions carryover, if any, to 2018:
    a From 2013......  
    b From 2014......  
    c From 2015......  
    d From 2016......  
    e From 2017......  
    fTotal of lines 3a through e........ 0
    4Qualifying distributions for 2018 from Part
    XII, line 4: bullet$ 1,674,178
    a Applied to 2017, but not more than line 2a 1,555,432
    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..... 118,746
    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 ..........     		3,840,894
    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....  
    b Excess from 2015....  
    c Excess from 2016....  
    d Excess from 2017....  
    e Excess from 2018....  
    Form 990-PF (2018)
    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 section or
    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
             
    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).)
    ERIN HOFFMANN
    MICHAEL SCHROEPFER
    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.
    2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
    Check here bullet
    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)
    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)
    aPaid during the year
    LUCILE PACKARD FOUNDATION FOR CHILDREN'S HEALTH
    400 HAMILTON AVENUE SUITE 340
    PALO ALTO,CA94301     		  PC PEDIATRIC CARDIOLOGY STEM CELL RESEARCH 887,868
    LUCILE PACKARD FOUNDATION FOR CHILDREN'S HEALTH
    400 HAMILTON AVENUE SUITE 340
    PALO ALTO,CA94301     		  PC GENERAL SUPPORT / PENDING FUND 700,000
    LUCILE PACKARD FOUNDATION FOR CHILDREN'S HEALTH
    400 HAMILTON AVENUE SUITE 340
    PALO ALTO,CA94301     		  PC THE SINGLE VENTRICLE SCIENTIFIC SUMMIT FUND 86,000
    Total .................................bullet 3a 1,673,868
    bApproved for future payment
    Total .................................bullet 3b 0
    Form 990-PF (2018)
    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
    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 2,223,840  
    5 Net rental income or (loss) from real estate:
    aDebt-financed property......          
    bNot debt-financed property.....          
    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 -1,009,475  
    9 Net income or (loss) from special events:          
    10 Gross profit or (loss) from sales of inventory          
    11 Other revenue:
    aEXCISE TAX BENEFIT     		    01 23,000  
    b
    c
    d
    e
    12 Subtotal. Add columns (b), (d), and (e).. 0 1,237,365 0
    13Total. Add line 12, columns (b), (d), and (e)..................
    13
    1,237,365
    (See worksheet in line 13 instructions to verify calculations.)
    Part XVI-B
    Relationship of Activities to the Accomplishment of Exempt Purposes
    Line No.
    DownArrow     		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)
    Form 990-PF (2018)
    Page 13
    Part XVII
    Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
    1
    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
    No
    a
    Transfers from the reporting foundation to a noncharitable exempt organization of:
    (1) Cash...................................
    1a(1)
     
    No
    (2) Other assets.................................
    1a(2)
     
    No
    b
    Other transactions:
    (1) Sales of assets to a noncharitable exempt organization....................
    1b(1)
     
    No
    (2) Purchases of assets from a noncharitable exempt organization..................
    1b(2)
     
    No
    (3) Rental of facilities, equipment, or other assets.......................
    1b(3)
     
    No
    (4) Reimbursement arrangements...........................
    1b(4)
     
    No
    (5) Loans or loan guarantees.............................
    1b(5)
     
    No
    (6) Performance of services or membership or fundraising solicitations................
    1b(6)
     
    No
    c
    Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
    1c
     
    No
    d
    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
    2a
    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? ...........
    b
    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.
    Bullet Bullet
    May the IRS discuss this return
    with the preparer shown below
    (see instr.)?
    Signature of officer or trustee Date Title
    Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date PTIN
    Firm's name SmallBullet
    		 Firm's EIN SmallBullet
    Firm's address SmallBullet


    		 Phone no.
    Form 990-PF (2018)
    Additional Data


    Software ID:  
    Software Version:  


    Form 990PF - Special Condition Description:
    Special Condition Description
    Schedule B
    (Form 990, 990-EZ,
    or 990-PF)
    Department of the Treasury
    Internal Revenue Service
    Schedule of Contributors

    Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
    Arrow Bullet Go to www.irs.gov/Form990 for the latest information.
    OMB No. 1545-0047
    2018
    Name of the organization
    THE HOFFMANN SCHROEPFER FOUNDATION
     
    Employer identification number

    81-4429034
    Organization type (check one):
    Filers of:
    Section:
    Form 990 or 990-EZ






    Form 990-PF




    Check if your organization is covered by the General Rule or a Special Rule.  
    Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
    General Rule
    Special Rules
    ......... Arrow Bullet $  
    Caution. An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
    990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
    Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
    990-EZ, or 990-PF).
    For Paperwork Reduction Act Notice, see the Instructions
    for Form 990, 990-EZ, or 990-PF.
    Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018) Page 2
    Name of organization
    THE HOFFMANN SCHROEPFER FOUNDATION
          		Employer identification number
    81-4429034
    Part I
    Contributors (See instructions). Use duplicate copies of Part I if additional space is needed.
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
    1
    ERIN HOFFMANN MICHAEL SCHROEPFER  
    314 LYTTON AVE
     
    PALO ALTO, CA94301

    		$ 44,609,740


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    (a)
    No.    		 (b)
    Name, address, and ZIP + 4    		 (c)
    Total contributions    		 (d)
    Type of contribution
     
     
     
     

    		$  


    (Complete Part II for noncash contributions.)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 3
    Name of organization
    THE HOFFMANN SCHROEPFER FOUNDATION
          		Employer identification number

    81-4429034
    Part II
    Noncash Property (See instructions). Use duplicate copies of Part II if additional space is needed.
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
    1
    		 PUBLICLY TRADED SECURITIES $ 44,609,180 2018-11-15
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    (a)
    No. from Part I    		 (b)
    Description of noncash property given    		 (c)
    FMV (or estimate)
    (See instructions)     		(d)
    Date received
     
    		$    
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)
    Page 4
    Name of organization
    THE HOFFMANN SCHROEPFER FOUNDATION
          		Employer identification number

    81-4429034
    Part III
    Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
    Use duplicate copies of Part III if additional space is needed.
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    (a)
    No. from Part I    		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
     
    (e) Transfer of gift
    Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
     
     
         
     
    Schedule B (Form 990, 990-EZ, or 990-PF) (2018)

    Additional Data


    Software ID:  
    Software Version:  

    TY 2018 AccountingFeesSchedule
    Name:
    THE HOFFMANN SCHROEPFER FOUNDATION
    EIN:
    81-4429034
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    ACCOUNTING FEES 3,929 0   0

    TY 2018 InvestmentsCorpBondsSchedule
    Name:
    THE HOFFMANN SCHROEPFER FOUNDATION
    EIN:
    81-4429034
    Name of Bond End of Year Book Value End of Year Fair Market Value
    ACTAVIS FUNDING SCS NOTE 99,633 99,633
    ALLY MSTER OWNER TR SER 2018-4 CL A 503,212 503,212
    AMAZON.COM INC 241,370 241,370
    AMERICAN EXPRESS CR CORP BE MTN 197,902 197,902
    AMERICAN EXPRESS CR SER 2017-1 CL A 494,087 494,087
    AMERICAN HONDA FIN CORP 193,636 193,636
    AMERICAN TOWER CORP 187,622 187,622
    ANHEUSER BUSCH INBEV FIN INC 237,945 237,945
    APPLE INC 98,423 98,423
    ARCHER DANIELS MIDLAND CO 231,845 231,845
    AT&T INC 195,672 195,672
    BANK AMER CORP MTN 192,468 192,468
    BANK NEW YORK MELLON CORP 392,920 392,920
    BANK OF NOVA SCOTIA 293,454 293,454
    BARCLAYS BK PLC 391,651 391,651
    BAXALTA INC 59,464 59,464
    BB&T CORP 248,255 248,255
    BERKSHIRE HATHAWAY INC 242,310 242,310
    BLACKROCK INC 252,708 252,708
    BOEING CO 238,263 238,263
    BOSTON PROPERTIES INC 152,033 152,033
    BP CAPITAL MARKETS PLC NOTE 388,403 388,403
    BUNGE LTD FIN CORP NOTE 191,148 191,148
    BURLINGTON NORTHN SANTA FE 242,225 242,225
    CAPITAL ONE CC TR SER 2016-5A CL A 485,133 485,133
    CAPITAL ONE NATL ASSN VA NOTE 246,830 246,830
    CATERPILLAR FINL SVCS 404,832 404,832
    CBS CORP NEW CL B 193,764 193,764
    CELGENE CORP 251,138 251,138
    CHASE ISSUANCE TRUST SER 2016-2A CL A 496,240 496,240
    CHEVRON CORP NEW 396,320 396,320
    CITIBANK CCIT SER 2016-A1 CL A 494,694 494,694
    CITIGROUP INC 200,582 200,582
    COMCAST CORP NEW CL A 349,076 349,076
    CONSOLIDATED EDISON HLDG CO INC 256,208 256,208
    CSX CORP 227,450 227,450
    CVS HEALTH CORP 198,628 198,628
    DEERE JOHN CAP CORP S BE 191,812 191,812
    DISCOVER CARD EXE TR SER 2016-4 CL A 197,794 197,794
    DISNEY WALT CO 243,958 243,958
    DOUBLELINE TOTAL RETURN BOND FD CL I 4,702,988 4,702,988
    DOW CHEM CO NOTE 241,233 241,233
    EOG RES INC NOTE 240,175 240,175
    ERP OPER LTD PARTNERSHIP 245,645 245,645
    EXPRESS SCRIPTS HLDG CO 199,148 199,148
    FEDEX CORP 248,360 248,360
    FIFTH THIRD BK CIN OHIO 395,276 395,276
    GENERAL ELECTRIC CO 278,379 278,379
    GILEAD SCIENCES INC 247,765 247,765
    GOLDMAN SACHS GROUP INC 243,490 243,490
    HOME DEPOT INC 234,645 234,645
    HSBC HLDGS PLC SPON 253,258 253,258
    INTERCONTINENTAL EXCHANGE 198,906 198,906
    INTERNATIONAL BUSINESS 97,362 97,362
    INTL PAPER CO 197,054 197,054
    JPMORGAN CHASE & CO 247,733 247,733
    KROGER CO 196,160 196,160
    LOCKHEED MARTIN CORP 201,328 201,328
    M&T BK CORP 401,596 401,596
    MEDTRONIC GLOBAL HLDGS 398,971 398,971
    METLIFE INC COM 246,725 246,725
    MICROSOFT CORP 247,643 247,643
    MORGAN STANLEY 196,678 196,678
    NATIONAL RURAL UTILS COOP 196,806 196,806
    NISSAN MOTOR CO SPONS ADR 489,368 489,368
    NORFOLK SOUTHERN CORP 250,065 250,065
    OCCIDENTAL PETE CORP 237,280 237,280
    ORACLE CORP 383,852 383,852
    PACCAR FINL CORP SR S 198,016 198,016
    PFIZER INC 237,493 237,493
    PIMCO INCOME FUND INSTITUTIONAL FUND 2,388,792 2,388,792
    PNC FINL SVCS GROUP INC NOTE 190,850 190,850
    PROLOGIS INC 219,092 219,092
    REPUBLIC SVCS INC 251,043 251,043
    ROYAL BK CDA MTN 196,800 196,800
    RYDER SYS MTN BE 99,484 99,484
    SCHWAB CHARLES CORP NEW 390,468 390,468
    SHELL INTERNATIONAL FIN 232,058 232,058
    SHERWIN WILLIAMS CO 196,938 196,938
    SIMON PPTY GRP INC 250,585 250,585
    SOUTHERN CALIF EDISON CO 244,300 244,300
    SOUTHWEST AIRLS CO 246,668 246,668
    STRYKER CORP 246,628 246,628
    SUNTRUST BKS INC NOTE 97,529 97,529
    SYNCHRONY CC MSTR NT SER 2015-1 CL A 496,050 496,050
    TIME WARNER INC 178,806 178,806
    TOYOTA MOTOR CREDIT CORP 241,230 241,230
    TRUSTEES BOSTON COLLEGE 98,493 98,493
    UNILEVER CAP CORP 249,508 249,508
    US BANK ASSN CINCINNATI OH 240,218 240,218
    VERIZON COMMUNICATIONS INC 246,570 246,570
    VISA INC COM CL A 387,172 387,172
    WAL-MART STORES INC 253,733 253,733
    WASTE MGMT INC 190,946 190,946
    WELLS FARGO CO MTN BE 247,578 247,578
    WESTPAC BANKING 389,780 389,780
    WORLD FIN NETWORK SER 2015-B CL A 247,787 247,787
    WORLD OMNI AUTO REC SER 2018-D CL A-4 407,002 407,002
    ZOETIS INC 205,268 205,268

    TY 2018 InvestmentsCorpStockSchedule
    Name:
    THE HOFFMANN SCHROEPFER FOUNDATION
    EIN:
    81-4429034
    Name of Stock End of Year Book Value End of Year Fair Market Value
    3M COMPANY 106,702 106,702
    51JOB INC SPON ADR 17,109 17,109
    58.COM INC ADR 11,493 11,493
    AAC TECHNOLOGIES HOLDINGS INC 7,895 7,895
    ABB LTD SPONSORED ADR 55,338 55,338
    ABBOTT LABORATORIES 143,358 143,358
    ABBVIE INC 134,874 134,874
    ABIOMED INC 14,952 14,952
    ACCENTURE PLC CLS A 85,311 85,311
    ACCOR SPON ADR 12,599 12,599
    ACS ACTIV DE CONSTRUC Y SERV 14,155 14,155
    ACTIVISION BLIZZARD INC 41,773 41,773
    ACUITY BRANDS INC 10,116 10,116
    ADECCO GROUP AG ADR 20,617 20,617
    ADIDAS AG ADR 41,076 41,076
    ADOBE SYS INC 105,880 105,880
    ADVANCE AUTO PARTS INC 10,235 10,235
    ADVANCED MICRO DEVICES INC 21,469 21,469
    AEGON NV 4,315 4,315
    AERCAP HOLDINGS NV 4,475 4,475
    AES CORP 10,484 10,484
    AFFILIATED MANAGERS GROUP 10,134 10,134
    AFLAC INC 28,703 28,703
    AGC INC UNSP ADS 4,215 4,215
    AGEAS SPONSORED ADR 32,032 32,032
    AGILENT TECH INC 36,361 36,361
    AGNC INVT CORP 6,770 6,770
    AGNICO EAGLE MINES LTD 12,120 12,120
    AGRICULTURAL BANK UNSPON ADR 8,608 8,608
    AIA GROUP LTD SPONSORED ADR 124,397 124,397
    AIR LIQUIDE 68,558 68,558
    AIR PRODUCTS & CHEM 27,689 27,689
    AIRBUS SE UNSPON ADR 77,552 77,552
    AKAMAI TECHNOLOGIES INC 3,726 3,726
    AKBANK TURK ANONIM SIRKETI ADR 16,299 16,299
    AKTIEBOLAGETT ELECTROLUX 20,470 20,470
    AKZO NOBEL NV SPONSORED ADR 13,467 13,467
    ALBEMARLE CORP 9,248 9,248
    ALEXANDRIA REAL ESTATE EQUITIES INC 21,550 21,550
    ALEXION PHARM INC 20,932 20,932
    ALFA LAVAL AB UNSP ADR 36,514 36,514
    ALIBABA GROUP HLDG LTD 199,437 199,437
    ALIGN TECHNOLOGY INC 22,618 22,618
    ALKERMES PLC 9,119 9,119
    ALLEGHANY CORP 13,090 13,090
    ALLEGION PLC 20,645 20,645
    ALLERGAN PLC 41,836 41,836
    ALLIANCE DATA SYS CORP 3,452 3,452
    ALLIANT ENERGY CORP 7,014 7,014
    ALLIANZ SE ADR 81,606 81,606
    ALLSTATE CORP 41,398 41,398
    ALLY FINANCIAL INC 8,180 8,180
    ALNYLAM PHARMACEUTICALS INC 9,260 9,260
    ALPHABET INC CAP STK CL A 310,353 310,353
    ALPHABET INC CAP STK CL C 329,324 329,324
    ALPS ELEC LTD ADR 3,697 3,697
    ALTRIA GROUP INC 94,335 94,335
    ALUMINA LIMITED SPON ADR 24,962 24,962
    ALUMINUM CORP OF CHINA ADR 6,796 6,796
    AMADEUS IT GROUP SA ADS 35,540 35,540
    AMAZON.COM INC 645,847 645,847
    AMBEV SA SPONSORED ADR 22,752 22,752
    AMCOR LIMITED ADR 32,573 32,573
    AMERCO 10,500 10,500
    AMEREN CORP 51,727 51,727
    AMERICA MOVIL SAB 14,008 14,008
    AMERICAN AIRLINES GROUP INC 7,193 7,193
    AMERICAN ELEC PWR CO 27,579 27,579
    AMERICAN EXPRESS CO 73,396 73,396
    AMERICAN FINL GRP INC HOLDING CO 12,674 12,674
    AMERICAN INTL GROUP INC 30,700 30,700
    AMERICAN TOWER CORPORATION 88,745 88,745
    AMERICAN WTR WKS CO INC 14,614 14,614
    AMERIPRISE FINL INC 20,665 20,665
    AMERISOURCEBERGEN CORP 9,895 9,895
    AMETEK INC NEW 20,716 20,716
    AMGEN INC 121,085 121,085
    AMPHENOL CORP CL A 26,818 26,818
    ANADARKO PETE CORP 34,809 34,809
    ANALOG DEVICES INC 23,002 23,002
    ANGLO AMERICAN SPON ADR 27,102 27,102
    ANGLOGOLD ASHANTI LTD LVL1 ADR 25,163 25,163
    ANHEUSER-BUSCH INBEV SA/NV ADR 59,032 59,032
    ANHUI CONCH CEMENT UNSP ADR 11,940 11,940
    ANNALY CAPITAL MANAGEMENT INC 19,188 19,188
    ANSYS INC 25,729 25,729
    ANTA SPORTS PRODUCTS UNSP ADR 9,712 9,712
    ANTHEM INC 72,223 72,223
    AON PLC 48,986 48,986
    AP MOLLER - MAERSK UNSPON ADR 12,837 12,837
    APACHE CORP 10,579 10,579
    APPLE INC NOTE 800,531 800,531
    APPLIED MATERIALS INC 27,927 27,927
    APTIV PLC 20,995 20,995
    ARAMARK 4,143 4,143
    ARCELORMITTAL NY 21,352 21,352
    ARCH CAPITAL GROUP 8,256 8,256
    ARCHER DANIELS MIDLAND 11,635 11,635
    ARCONIC INC 8,953 8,953
    ARISTA NETWORKS INC 11,589 11,589
    ARKEMA SPON ADR 5,398 5,398
    ARROW ELECTRONICS INC 23,167 23,167
    ASAHI KASEI CORP UNSP ADR 22,329 22,329
    ASHTEAD GROUP UNSP ADR 5,170 5,170
    ASML HOLDING NV 66,917 66,917
    ASPEN PHARMACARE HLDGS LTD ADR 2,071 2,071
    ASSA ABLOY UNSP ADR 23,582 23,582
    ASSOCIATED BRITISH FOODS ADR 50,557 50,557
    ASTELLAS PHARMA UNSP ADR 45,846 45,846
    ASTRAZENECA ADR 108,661 108,661
    AT&T INC NOTE 187,422 187,422
    ATHENE HOLDING LTD 9,440 9,440
    ATLANTIA SPA UNSP ADR 17,155 17,155
    ATLAS COPCO AB SP ADR A 25,239 25,239
    ATLAS COPCO AB SP ADR B 7,632 7,632
    ATMOS ENERGY CORP 14,186 14,186
    ATOS SE UNSPONS ADR 10,933 10,933
    AU OPTRONICS CORPORATION ADS 90,277 90,277
    AUSTRALIA & NEW ZEALAND BANK GROUP 73,943 73,943
    AUTODESK INC 24,950 24,950
    AUTOHOME INC ADS 19,479 19,479
    AUTOLIV INC 10,675 10,675
    AUTOMATIC DATA PROCESSING INC 47,334 47,334
    AUTOZONE INC 24,312 24,312
    AVALONBAY CMNTYS INC 46,123 46,123
    AVERY DENNISON CORP 20,391 20,391
    AVIVA SPON ADR 23,587 23,587
    AXA ADS 42,230 42,230
    AXA EQUITABLE HLDGS INC 9,413 9,413
    AXALTA COATING SYSTEMS LTD 4,145 4,145
    BAE SYSTEMS SPON ADR 24,048 24,048
    BAIDU INC SPONS ADR 55,193 55,193
    BAKER HUGHES A GE CO CL A 11,266 11,266
    BALL CORP 11,127 11,127
    BANCO BILBAO VIZCAYA ARGENTARI 41,881 41,881
    BANCO BRADESCO SA SP ADR PFD NEW 42,428 42,428
    BANCO DE CHILE SPONSORED ADR 30,573 30,573
    BANCO DO BRASIL SA SPONS ADR 13,662 13,662
    BANCO SANTANDER 26,712 26,712
    BANCO SANTANDER BRASIL SA ADS 20,392 20,392
    BANCO SANTANDER SA ADR 54,768 54,768
    BANCOLOMBIA SA SPON PFD 9,449 9,449
    BANK MANDIRI 10,083 10,083
    BANK NEW YORK MELLON CORP 45,799 45,799
    BANK OF AMERICA CORP 215,501 215,501
    BANK OF CHINA ADR 55,541 55,541
    BANK OF MONTREAL 41,889 41,889
    BANK OF NOVA SCOTIA NOTE 65,479 65,479
    BANK RAKYAT INDONESIA UNSP ADR 23,187 23,187
    BAOZUN INC ADR 8,179 8,179
    BARCLAYS PLC ADR 40,158 40,158
    BARRICK GOLD CORP 12,565 12,565
    BASF SE SPON ADR 68,685 68,685
    BAUSCH HEALTH COMPANIES INC 10,103 10,103
    BAXTER INTL INC 27,315 27,315
    BAYER AG SPON 68,674 68,674
    BAYERISCHE MOTOREN WERKE AG ADR 32,059 32,059
    BB SEGURIDADE PARTI SPON ADR 15,874 15,874
    BB&T CORP SR MEDIUM TERM 25,689 25,689
    BECTON DICKINSON CO 48,444 48,444
    BEIGENE LTD SPON ADS 10,099 10,099
    BERKSHIRE HATHAWAY INC DEL CL B NEW 270,743 270,743
    BEST BUY INC 17,424 17,424
    BHP BILLITON LTD SPONSORED ADR 98,415 98,415
    BHP BILLITON PLC SPONS ADR 33,554 33,554
    BIDVEST GROUP LTD ADR 9,260 9,260
    BIOGEN INC 65,300 65,300
    BIOMARIN PHARMACEUTICAL INC 14,901 14,901
    BLACKBERRY LTD 9,165 9,165
    BLACKROCK INC 60,101 60,101
    BNP PARIBAS SPONSORED ADR 45,622 45,622
    BOC HONG KONG 7,657 7,657
    BOEING CO NOTE 178,665 178,665
    BOOKING HLDGS INC 75,786 75,786
    BORGWARNER INC 11,603 11,603
    BOSTON PROPERTIES LP NOTE 28,138 28,138
    BOSTON SCIENTIFIC CORP 61,386 61,386
    BP PLC SPONSORED ADR 140,683 140,683
    BRAMBLES LTD SPON ADR 33,027 33,027
    BRENNTAG AG UNSP ADR 17,350 17,350
    BRIDGESTONE CORP ADR 50,135 50,135
    BRIGHTHOUSE FINL INC 5,517 5,517
    BRILLIANCE CHINA AUTOMOTIVE HLDGS 2,345 2,345
    BRISTOL MYERS SQUIBB 79,218 79,218
    BRITISH AMERICAN TOBACCO LVL II ADR 89,718 89,718
    BROADCOM LIMITEDV 102,983 102,983
    BROADRIDGE FINANCIAL SOLUTIONS 26,469 26,469
    BROOKFIELD ASSET MGMT INC CL A LTD VT 50,775 50,775
    BROOKFIELD PROPERTY REIT INC CL A 2,898 2,898
    BROWN FORMAN CORP CL B 18,699 18,699
    BT GROUP ADR 25,095 25,095
    BUNGE LIMITED 8,818 8,818
    BUNZL SPON ADR 23,111 23,111
    BURBERRY GROUP PON ADR 10,676 10,676
    BURLINGTON STORES INC 11,062 11,062
    BYD CO UNSP ADR 11,242 11,242
    C H ROBINSON WORLDWIDE INC 19,004 19,004
    CABOT OIL & GAS CP 10,058 10,058
    CADENCE DESIGN SYSTEMS INC 8,435 8,435
    CAE INC 29,397 29,397
    CAIXABANK SA UNSP ADR 7,849 7,849
    CAMDEN PPTY TR SH BEN INT 21,572 21,572
    CAMECO CORP 14,528 14,528
    CAMPBELL SOUP CO 12,272 12,272
    CANADIAN IMPERIAL BANK OF COMMERCE 38,612 38,612
    CANADIAN NATL RY CO 76,704 76,704
    CANADIAN NATURAL RESOURCES LTD 37,088 37,088
    CANADIAN PAC RY LTD 47,425 47,425
    CANON INC SPONSORED ADR 65,578 65,578
    CAPGEMINI UNSPON ADR 38,083 38,083
    CAPITAL ONE FINANCIAL CORP 26,154 26,154
    CARDINAL HEALTH INC 9,723 9,723
    CARLSBERG AS SPON ADR 10,971 10,971
    CARMAX INC 11,103 11,103
    CARNIVAL CORP PAIRED CTF 15,332 15,332
    CARNIVAL PLC ADS 4,581 4,581
    CARREFOUR SA SPON ADR 19,506 19,506
    CATERPILLAR INC 74,336 74,336
    CBOE GLOBAL MARKETS INC 11,348 11,348
    CBRE GROUP INC CL A 22,222 22,222
    CBS CORP NEW NOTE 10,974 10,974
    CDW CORP 18,074 18,074
    CELANESE CORP 9,267 9,267
    CELGENE CORP 42,171 42,171
    CEMEX SAB DE CV SPON ADR NEW 10,691 10,691
    CENOVUS ENERGY INC 26,018 26,018
    CENTENE CORP DEL 33,783 33,783
    CENTRAIS ELETR BRAS SA ELETROBRAS 23,142 23,142
    CENTRAL JAPAN RY CO UNSPON ADR 38,765 38,765
    CENTRICA ADR 11,868 11,868
    CENTURYLINK INC 11,241 11,241
    CERNER CORP 11,170 11,170
    CF INDS HLDGS INC 13,749 13,749
    CGI GROUP INC 34,266 34,266
    CHARTER COMMUNICATIONS INC 43,600 43,600
    CHECK POINT SOFTWARE TECHNOLOGIES 15,295 15,295
    CHEMOURS CO 9,595 9,595
    CHENIERE ENERGY INC 21,900 21,900
    CHEVRON CORP 207,245 207,245
    CHINA CONSTRUCTION BANK UNSP ADR 114,590 114,590
    CHINA LIFE INSURANCE CO ADR 34,502 34,502
    CHINA MERCHANTS BANK CO LTD UNSP ADR 30,939 30,939
    CHINA MOBILE LTD SPON ADR 67,776 67,776
    CHINA PETE &CHEM CORP SPON ADR 30,923 30,923
    CHINA SHENHUA ENERGY COMPANY LTD 5,164 5,164
    CHINA SOUTHERN AIRLINES COMPANY LTD 9,290 9,290
    CHINA TELECOM CORPORATION SPONS ADR 11,769 11,769
    CHINA UNICOM 13,943 13,943
    CHIPOTLE MEXICAN GRILL INC 11,227 11,227
    CHR HANSEN HOLDING SPON ADR 26,322 26,322
    CHUBB LIMITED 55,677 55,677
    CHUNGHWA TELECOM ADR 108,658 108,658
    CHURCH & DWIGHT INC 23,542 23,542
    CIA BRASILEIRA DISTR 9,907 9,907
    CIA ENERGETICA DE SPON ADR 11,556 11,556
    CIA SANEAMENTO BASICO DE SAO PAULO 11,403 11,403
    CIELO SA SPON ADR 1,652 1,652
    CIGNA CORPORATION 78,057 78,057
    CIMAREX ENERGY CO 16,214 16,214
    CINCINNATI FINL CORP 10,916 10,916
    CINTAS CORP 11,087 11,087
    CISCO SYS INC 202,568 202,568
    CITIGROUP INC NOTE 110,992 110,992
    CITIZENS FINL GROUP INC 9,157 9,157
    CITY DEVELOPMENTS SPND ADR 15,983 15,983
    CK HUTCHISON HOLDINGS LIMITED 49,154 49,154
    CLOROX CO DEL 23,429 23,429
    CLP HOLDINGS LTD ADR 22,043 22,043
    CME GROUP INC 64,149 64,149
    CMS ENERGY CORP 7,845 7,845
    CNOOC LTD SPONSORED ADR 36,131 36,131
    COCA COLA AMATIL LTD SPONSORED ADR 34,677 34,677
    COCA COLA CO 189,211 189,211
    COCA-COLA EUROPEAN PARTNERS PLC 29,161 29,161
    COCA-COLA FEMSA SAB 7,483 7,483
    COGNEX CORP 14,927 14,927
    COGNIZANT TECH SOLUTIONS CORP 26,662 26,662
    COLGATE-PALMOLIVE CO 47,259 47,259
    COLOPLAST UNSP ADR 28,629 28,629
    COMCAST CORP NEW NOTE 152,748 152,748
    COMERICA INC 5,289 5,289
    COMMERZBANK A G SPONSORED ADR 8,779 8,779
    COMMONWEALTH BANK OF AUSTRALIA 124,503 124,503
    COMPAGNIE DE ST-GOBAIN UNSP ADR 28,212 28,212
    COMPAGNIE FINANCIERE RICHEMONT SA 41,471 41,471
    COMPANHIA SIDERURGICA NACIONAL 8,289 8,289
    COMPANIA CERVECERIAS UNIDAS SA 13,093 13,093
    COMPANIA DE MINAS BUENAVENTURA SA 11,386 11,386
    COMPASS GROUP PLC SPON ADR 40,830 40,830
    CONAGRA BRANDS INC 7,860 7,860
    CONCHO RES INC 20,764 20,764
    CONOCOPHILLIPS 70,830 70,830
    CONSOLIDATED EDISON HLDG CO INC 13,686 13,686
    CONSTELLATION BRANDS INC CL A 23,158 23,158
    CONTINENTAL AG ADR 24,171 24,171
    CONTINENTAL RES INC OKLA 17,764 17,764
    COOPER COS INC 18,833 18,833
    COPART INC 10,846 10,846
    CORNING INC 24,470 24,470
    COSTAR GROUP INC 11,470 11,470
    COSTCO WHOLESALE CORP 100,225 100,225
    COVESTRO AG SPON ADR 10,292 10,292
    CREDICORP LTD 35,024 35,024
    CREDIT AGRICOLE S A ADR 10,500 10,500
    CREDIT SUISSE GROUP SPON ADR 37,869 37,869
    CRH SPON ADR 49,643 49,643
    CROWN CASTLE INTL CORP 56,488 56,488
    CROWN HLDGS INC 3,824 3,824
    CSL LTD SPONSORED ADR 84,600 84,600
    CSX CORP 50,450 50,450
    CTRIP.COM INTERNATIONAL LTD 20,863 20,863
    CUMMINS INC 23,120 23,120
    CVS HEALTH CORP 56,478 56,478
    D R HORTON INC 9,705 9,705
    DAI NIPPON PRINTING CO SPON ADR 24,212 24,212
    DAIICHI SANKYO CO LTD SPON ADR 32,705 32,705
    DAIKIN INDUSTRIES ADR 52,261 52,261
    DAIMLER AG UNSP ADR 46,108 46,108
    DAITO TRUST CONSTRUCTION CO SPON 23,060 23,060
    DAIWA HOUSE IND LTD ADR 28,248 28,248
    DAIWA SECS GROUP INC SPONSORED ADR 8,918 8,918
    DANAHER CORP 68,884 68,884
    DANONE ADR 43,989 43,989
    DANSKE BANK AS SPON ADR 11,403 11,403
    DARDEN RESTAURANTS 21,070 21,070
    DASSAULT SYSTEMES SPONS ADR 23,472 23,472
    DAVITA INC 8,851 8,851
    DBS GROUP HLDGS LTD SPONSORED ADR 66,186 66,186
    DEERE & COMPANY 45,348 45,348
    DELL TECHNOLOGIES INC 2,639 2,639
    DENSO CORP ADR 23,057 23,057
    DENTSPLY SIRONA INC 11,200 11,200
    DEUTSCHE BANK AG ORD NPV 21,761 21,761
    DEUTSCHE BOERSE AG UNSP ADR 36,171 36,171
    DEUTSCHE LUFTHANSA AG SPONSORED 12,431 12,431
    DEUTSCHE POST AG SPONS ADR 35,834 35,834
    DEUTSCHE TELEKOM AG SPONSORED ADR 19,414 19,414
    DEVON ENERGY CORP NEW 15,936 15,936
    DEXCOM INC 10,662 10,662
    DIAGEO ADR 101,529 101,529
    DIAMONDBACK ENERGY INC 4,450 4,450
    DIGITAL RLTY TR INC COM 27,596 27,596
    DISCOVER FINL SVCS 22,471 22,471
    DISCOVERY COMMUNICATIONS INC 28,527 28,527
    DISH NETWORK CORP CL A 2,172 2,172
    DNB ASA SPON ADR 21,873 21,873
    DNB ASA SPON ADR 159,760 159,760
    DOLLAR GEN CORP NEW 32,640 32,640
    DOLLAR TREE INC 25,922 25,922
    DOMINION ENERGY INC 44,734 44,734
    DOMINOS PIZZA INC 7,440 7,440
    DON QUIJOTE HOLDINGS CO LTD ADR 15,105 15,105
    DOVER CORP 4,754 4,754
    DOWDUPONT INC 118,726 118,726
    DR. REDDY S LABORATORIES ADR 53,685 53,685
    DSV AS ADR 19,987 19,987
    DTE ENERGY HOLDING CO 42,686 42,686
    DUKE ENERGY CORP NEW 50,054 50,054
    DUKE REALTY CORP 20,668 20,668
    DXC TECHNOLOGY CO 15,898 15,898
    E TRADE FINL CORP 10,575 10,575
    EAST JAPAN RAILWAY CO ADR 32,366 32,366
    EAST WEST BANCORP INC 14,408 14,408
    EATON CORP PLC 25,473 25,473
    EBAY INC 25,319 25,319
    ECOLAB INC 27,997 27,997
    ECOPETROL SA SPONSORED ADS 25,757 25,757
    EDISON INTL 23,957 23,957
    EDP-ENERGIAS DE PORTUGAL SA SPON ADR 11,955 11,955
    EDWARDS LIFESCIENCES CORP 40,284 40,284
    EISAI LTD SPONSORED ADR 15,033 15,033
    ELBIT SYSTEMS LTD 9,578 9,578
    ELECTRICITE DE FRANCE ADR 14,309 14,309
    ELECTRONIC ARTS 25,093 25,093
    EMBRAER SA SPONSORED ADR 12,658 12,658
    EMERSON ELECTRIC CO 27,903 27,903
    ENAGAS SA UNSP ADR 24,925 24,925
    ENBRIDGE INC 64,273 64,273
    ENCANA CORP 17,074 17,074
    ENEL AMERICAS SA 10,873 10,873
    ENEL CHILE SA SPON ADR 8,984 8,984
    ENEL UN SPON ADR 48,850 48,850
    ENGIE SPON ADR 32,230 32,230
    ENI SPA ADR 37,265 37,265
    ENN ENERGY HOLDINGS LTD UNSP ADR 10,893 10,893
    ENTERGY CORP 11,447 11,447
    EOG RESOURCES INC 56,861 56,861
    EON SE SPONSORED ADR 39,695 39,695
    EQUIFAX INC 41,735 41,735
    EQUINOR ASA SPON ADR 46,934 46,934
    EQUITY RESIDENTIAL 36,438 36,438
    ERICSSON ADR 27,488 27,488
    ERSTE GROUP BK AG SPONSORED ADR 21,469 21,469
    ESSEX PPTY TR INC 23,295 23,295
    ESSILORLUXOTTICA UNSPONSORED ADR 42,739 42,739
    ESSITY AB SPON ADR 22,654 22,654
    ESTEE LAUDER COMPANIES INC CL A 24,849 24,849
    EVEREST RE GROUP LTD 15,896 15,896
    EVERGY INC 52,399 52,399
    EVERSOURCE ENERGY 16,195 16,195
    EXELON CORP 29,315 29,315
    EXPEDIA INC DEL 11,152 11,152
    EXPEDITORS INTL WASH INC 10,009 10,009
    EXPERIAN PLC ADR 25,718 25,718
    EXTRA SPACE STORAGE INC 21,353 21,353
    EXXON MOBIL CORP 291,376 291,376
    FACEBOOK INC 318,942 318,942
    FANUC CORPORATION UNSP ADR 39,580 39,580
    FAST RETAILING CO LTD ADR 41,360 41,360
    FASTENAL CO 10,876 10,876
    FEDERAL REALTY INVST TR SH BEN INT 20,067 20,067
    FEDEX CORP 48,722 48,722
    FERGUSON PLC SPON ADR 24,308 24,308
    FERRARI NV 17,104 17,104
    FERROVIAL SA ADR 11,166 11,166
    FIAT CHRYSLER AUTOMOBILES NV 21,271 21,271
    FIDELITY NATIONAL FINANCIAL IN FNF 11,381 11,381
    FIDELITY NATIONAL INFORMATION 27,176 27,176
    FIFTH THIRD BANCORP 21,036 21,036
    FIRST PACIFIC CO SPONS ADR 10,417 10,417
    FIRST REP BK SAN FRANCISCO CAL 10,602 10,602
    FIRSTENERGY CORP 47,689 47,689
    FISERV INC 26,015 26,015
    FLEETCOR TECHNOLOGIES INC 11,700 11,700
    FLEX LTD 9,528 9,528
    FLIR SYS INC 10,711 10,711
    FLOWSERVE CORP 8,783 8,783
    FLUOR CORP 7,986 7,986
    FMC CORP NEW 6,952 6,952
    FOMENTO ECONOMICO MEXICANO SAB SPON 24,610 24,610
    FORD MTR CO DEL 23,279 23,279
    FORTESCUE METALS GROUP LTD SPON 9,517 9,517
    FORTINET INC 10,776 10,776
    FORTIVE CORP 11,029 11,029
    FORTUNE BRANDS HOME & SECURITY INC 9,649 9,649
    FRANCO NEVADA CORP 11,438 11,438
    FRANKLIN RES INC 20,050 20,050
    FREEPORT MCMORAN INC 11,320 11,320
    FRESENIUS MEDICAL CARE AG & CO KGAA 26,074 26,074
    FRESENIUS SE&CO KGAA SPON ADR 24,042 24,042
    FUCHS PETROLUB SE UNSP ADR 47,734 47,734
    FUJIFILM HLDGS CORP ADR 15,568 15,568
    FUJITSU LIMITED ADR 8,574 8,574
    G4S ADR 7,927 7,927
    GALLAGHER ARTHUR J & CO 62,571 62,571
    GALP ENERGIA SGPS SA UNSPONSORED 18,687 18,687
    GAP INC 10,278 10,278
    GARTNER INC 18,281 18,281
    GAZPROM OAO SPON ADR 59,689 59,689
    GDS HOLDINGS LTD SPON ADS 8,543 8,543
    GEA GROUP AG SPON ADR 10,443 10,443
    GEELY AUTOMOBILE HOLDINGS LIMITED 20,199 20,199
    GENERAL DYNAMICS CRP 41,032 41,032
    GENERAL ELECTRIC CO 72,074 72,074
    GENERAL MILLS INC 27,180 27,180
    GENERAL MTRS CO 42,247 42,247
    GENMAB A S SPONSORED ADR 12,085 12,085
    GENUINE PARTS CO 12,675 12,675
    GILDAN ACTIVEWEAR INC 22,557 22,557
    GILEAD SCIENCES INC NOTE 75,248 75,248
    GIVAUDAN SA ADR 35,833 35,833
    GLAXOSMITHKLINE ADR 108,784 108,784
    GLENCORE PLC UNSPON 45,506 45,506
    GLOBAL PMTS INC 11,963 11,963
    GODADDY INC CL A 11,418 11,418
    GOLD FIELDS LTD NEW SPONSORED ADR 11,282 11,282
    GOLDCORP INC 7,095 7,095
    GOLDMAN SACHS GROUP INC 47,943 47,943
    GPO AEROPORTUARIO DEL PACIFICO SAB 12,640 12,640
    GRAINGER WW INC 11,012 11,012
    GRIFOLS SA SP ADR 26,585 26,585
    GRUBHUB INC 10,677 10,677
    GRUPO AEROPORTUARIO DEL SUREST 32,078 32,078
    GRUPO AVAL ACCIONES Y VALORES SA 9,234 9,234
    GRUPO FINANCIERO BANORTE SA B ADR 4,286 4,286
    GRUPO TELEVISA SA SPON ADR 10,806 10,806
    GUANGDONG INVESTMENT UNSP ADR 8,218 8,218
    H LUNDBECK A S SPONS ADR 11,367 11,367
    HALLIBURTON CO HOLDING CO 22,354 22,354
    HANG LUNG PROPERTIES 33,510 33,510
    HANNOVER RUECK SE ADR 21,326 21,326
    HARRIS CORP 13,734 13,734
    HARTFORD FINL SVCS GROUP INC 7,645 7,645
    HCA HEALTHCARE INC 42,935 42,935
    HCP INC 29,159 29,159
    HEIDELBERGCEMENT AG ADR 10,764 10,764
    HEINEKEN HLDG NV SPONSORED ADR 44,852 44,852
    HEINEKEN N V SPONSORED ADR 29,167 29,167
    HELMERICH &PAYNE INC 15,437 15,437
    HENDERSON LAND DEVELOPMENT CO SPON 8,966 8,966
    HENKEL AG & CO KGAA ADR 53,254 53,254
    HENNES & MAURITZ AB ADR 20,299 20,299
    HENRY SCHEIN CORP 22,692 22,692
    HERMES INTL SCA ADR 36,189 36,189
    HERSHEY CO 24,223 24,223
    HESS CORP 8,667 8,667
    HEWLETT PACKARD ENTERPRISE CO 25,416 25,416
    HEXAGON AB ADR 21,629 21,629
    HILTON WORLDWIDE HLDGS INC 23,622 23,622
    HITACHI LTD ADR 49,819 49,819
    HOLLYFRONTIER CORPORATION 8,026 8,026
    HOLOGIC INC 19,317 19,317
    HOME DEPOT INC NOTE 194,500 194,500
    HONDA MOTOR LTD 73,293 73,293
    HONEYWELL INTL INC 92,616 92,616
    HONG KONG EXCHANGES & CLEARING 50,301 50,301
    HONGKONG & CHINA GAS CO LTD SPON 14,309 14,309
    HORMEL FOODS CORP 18,865 18,865
    HOST HOTELS & RESORTS INC 15,686 15,686
    HOYA CORP SPONSORED ADR 38,346 38,346
    HP INC 37,687 37,687
    HSBC HOLDINGS PLC NOTE 181,542 181,542
    HUANENG POWER INTERNATIONAL INC ADR 13,580 13,580
    HUAZHU GROUP LTD SPONSORED ADR 9,706 9,706
    HUGO BOSS AG SPON ADR 10,639 10,639
    HUMANA INC 40,107 40,107
    HUNT J B TRANS SVCS INC 15,259 15,259
    HUNTINGTON BANCSHARES INC 4,744 4,744
    HUNTINGTON INGALLS INDS INC 10,277 10,277
    HUTCHISON CHINA MEDITECH SPON ADR 7,158 7,158
    HYPERMARCAS SA SPON ADR 11,400 11,400
    IAC INTERACTIVECORP 11,898 11,898
    IBERDROLA SA SPON ADR 33,277 33,277
    ICICI BANK LIMITED ADR 61,822 61,822
    ICL-ISRAEL CHEMICALS 25,889 25,889
    IDEX CORP 23,232 23,232
    IDEXX LABS CORP 11,347 11,347
    IHS MARKIT LTD 10,649 10,649
    ILLINOIS TOOL WORKS 41,934 41,934
    ILLUMINA INC 45,889 45,889
    IMPERIAL BRANDS PLC SPON ADR 30,576 30,576
    IMPERIAL OIL 24,383 24,383
    INCITEC PIVOT SPON ADR 8,012 8,012
    INCYTE CORP 14,499 14,499
    INDITEX 34,914 34,914
    INDUSTRIAL & COMMERCIAL BK OF CHINA 78,768 78,768
    INFINEON TECHNOLOGIES AG SPON 28,744 28,744
    INFORMA PLC SPON ADR 18,412 18,412
    INFOSYS LTD SPON ADR 107,804 107,804
    ING GROEP N V SPONSORED ADR 27,663 27,663
    INGENICO GROUP UNSP ADR 6,773 6,773
    INGERSOLL-RAND PLC 35,488 35,488
    INGREDION INC 9,688 9,688
    INPEX CORP ADR 4,689 4,689
    INTEL CORP 215,033 215,033
    INTERCONTINENTAL EXCHANGE INC 57,326 57,326
    INTERCONTINENTAL HOTELS GROUP SPON 30,025 30,025
    INTERNATIONAL CONSOLIDATED AIRLINE 11,130 11,130
    INTERPUBLIC GROUP COS INC 9,820 9,820
    INTESA SANPAOLO SPA SPON ADR 30,282 30,282
    INTL BUSINESS MACHINES 98,438 98,438
    INTL FLAVORS & FRAGRANCES INC 15,978 15,978
    INTL PAPER CO 10,615 10,615
    INTUIT 45,079 45,079
    INTUITIVE SURGICAL INC 62,260 62,260
    INVESCO LTD 9,475 9,475
    INVITATION HOMES INC 10,201 10,201
    IPG PHOTONICS CORP 12,915 12,915
    IQVIA HLDGS INC 23,234 23,234
    IRON MOUNTAIN INC 10,598 10,598
    ISUZU MTRS LTD ADR 5,236 5,236
    ITAU UNIBANCO HOLDINGS SA ADR 49,904 49,904
    ITOCHU CORP ADR 49,349 49,349
    ITV PLC ADR 3,148 3,148
    JACOBS ENGR GROUP INC 10,172 10,172
    JAMES HARDIE INDS PLC SPONSORED ADR 17,704 17,704
    JAPAN AIRLINES CO LTD ADR 20,977 20,977
    JAPAN EXCHANGE GROUP UNSPON ADR 14,998 14,998
    JAPAN TOBACCO INC UNSP ADR 38,085 38,085
    JARDINE MATHESON HLDGS LTD ADR 9,045 9,045
    JARDINE STRATEGIC HLDGS UNSPON ADR 16,354 16,354
    JAZZ PHARMACEUTICALS PLC 10,289 10,289
    JD COM INC SPONSORED ADR 25,283 25,283
    JEFFERIES FINL GROUP INC 6,961 6,961
    JGC CORP ADR 18,217 18,217
    JOHNSON & JOHNSON 350,887 350,887
    JOHNSON CONTROLS INTERNATIONAL PLC 23,868 23,868
    JONES LANG LASALLE INC 15,952 15,952
    JPMORGAN CHASE & CO NOTE 313,555 313,555
    JULIUS BAER GROUP LTD ADR 22,303 22,303
    JUNIPER NETWORKS INC 12,029 12,029
    KANSAS CITY SOUTHERN 10,595 10,595
    KAO CORP SPONSORED ADR 41,322 41,322
    KASIKORNBANK PUBLIC COMPANY LIMITED 46,511 46,511
    KB FINANCIAL GROUP INC SPONSORED ADR 106,041 106,041
    KBC GROUP NV ADR 33,401 33,401
    KDDI CORP ADR 46,038 46,038
    KELLOGG COMPANY 13,511 13,511
    KEPPEL CORP SPON ADR 3,816 3,816
    KERING SA UNSPONSORED ADR 44,182 44,182
    KEYCORP NEW 8,912 8,912
    KEYSIGHT TECHNOLOGIES INC 11,547 11,547
    KIMBERLY CLARK CORP 44,209 44,209
    KIMBERLY CLRK DE MEX SAB DE CV SPON ADR 3,393 3,393
    KIMCO REALTY CORP 11,793 11,793
    KINDER MORGAN INC 18,302 18,302
    KINGFISHER SPON ADR 9,624 9,624
    KINROSS GOLD CORP 9,428 9,428
    KIRIN HLDGS COMPANY LTD SPON ADR 35,762 35,762
    KLA-TENCOR CORP 9,754 9,754
    KNIGHT SWIFT TRANSN HLDGS INC CL A 7,446 7,446
    KOC HLDG ADR 13,560 13,560
    KOHLS CORP 11,543 11,543
    KOMATSU LTD SPON ADR NEW 32,944 32,944
    KONE OYJ UNSP ADR 35,176 35,176
    KONINKLIJKE AHOLD DELHAIZE NV SPON 40,931 40,931
    KONINKLIJKE PHILIPS NV NY REG SH NEW 36,058 36,058
    KOREA ELECTRIC PWR SPONSORED ADR 68,307 68,307
    KOSE CORPORATION UNSP ADR 22,842 22,842
    KRAFT HEINZ CO 23,328 23,328
    KROGER CO NOTE CALL 24,310 24,310
    KROTON EDUCACIONAL SA SPON ADR 3,333 3,333
    KT CORP SPONSORED ADR 86,699 86,699
    KUBOTA CORP ADR 30,386 30,386
    KYOCERA CORP ADR 34,439 34,439
    L BRANDS INC 5,981 5,981
    L3 TECHNOLOGIES INC 22,576 22,576
    LABORATORY CORP AMER HLDGS 12,889 12,889
    LAFARGEHOLCIM LTD ADR 23,336 23,336
    LAM RESEARCH CORP 20,970 20,970
    LAMB WESTON HLDGS INC 11,034 11,034
    LAS VEGAS SANDS CORP 23,527 23,527
    LATAM AIRLINES GROUP SA SPONS ADR 10,475 10,475
    LEAR CORP NEW 12,532 12,532
    LEGAL & GENERAL GROUP SPON ADR 5,457 5,457
    LEGGETT & PLATT INC 4,552 4,552
    LENDLEASE CORP LTD SPONSORED ADR 8,884 8,884
    LENNAR CORP CL A 10,845 10,845
    LENNOX INTL INC 20,135 20,135
    LENOVO GROUP LIMITED ADR 19,621 19,621
    LEONARDO SPA UNSP ADR 3,274 3,274
    LG DISPLAY CO LTD SPONS ADR 54,382 54,382
    LIBERTY BROADBAND CORP 9,724 9,724
    LIBERTY GLOBAL PLC 9,990 9,990
    LIBERTY MEDIA CORP 18,062 18,062
    LIBERTY PPTY TR SHS BEN INT 9,967 9,967
    LIFE HEALTHCARE GRP HLDGS LTD 4,654 4,654
    LILLY ELI & CO COM NPV 126,135 126,135
    LINCOLN NATIONAL CORP IND 7,697 7,697
    LINDE PLC 79,580 79,580
    LINE CORP SPONS ADS 10,506 10,506
    LIVE NATION ENTERTAINMENT INC 26,300 26,300
    LIXIL GROUP CORPORATION UNSP ADR 1,986 1,986
    LKQ CORP 19,672 19,672
    LLOYDS BANKING GROUP PLC SPONSORED 44,168 44,168
    LOCALIZA RENT A CAR S A SPONSORED 9,626 9,626
    LOCKHEED MARTIN CORP NOTE 72,006 72,006
    LONDON STOCK EXCHANGE GROUP UNSPN ADR 24,146 24,146
    LONZA GROUP AG UNSPONSORED ADR 42,631 42,631
    LOREAL CO ADR 82,524 82,524
    LOWES COS INC 76,474 76,474
    LULULEMON ATHLETICA INC 10,458 10,458
    LVMH MOET HENNESSY VUITTON SE ADR 99,174 99,174
    LYONDELLBASELL INDUSTRIES NV 24,782 24,782
    M&T BANK CORP 12,166 12,166
    MACERICH CO 7,704 7,704
    MACQUARIE GROUP LIMITED ADR 69,070 69,070
    MACYS INC 11,436 11,436
    MAGNA INTL INC 22,634 22,634
    MAKITA CORP SPON ADR 34,453 34,453
    MANPOWERGROUP INC 8,942 8,942
    MANULIFE FINANCIAL CORP 46,075 46,075
    MARATHON OIL CORP 9,952 9,952
    MARATHON PETROLEUM CORP 44,139 44,139
    MARINE HARVEST ASA SPON ADR 20,128 20,128
    MARKEL CORP HLDG CO 21,799 21,799
    MARKS & SPENCER GROUP SPON ADR 10,573 10,573
    MARRIOTT INTL INC CL A 27,574 27,574
    MARSH & MCLENNAN COS 41,550 41,550
    MARTIN MARIETTA MATLS INC 10,484 10,484
    MARUBENI CORP ADR 8,941 8,941
    MARVELL TECHNOLOGY GROUP LTD 11,624 11,624
    MASCO CORP 17,281 17,281
    MASTERCARD INCORPORATED CL A 195,064 195,064
    MATTEL INC 4,575 4,575
    MAZDA MOTOR CORP UNSP ADR 18,721 18,721
    MCCORMICK & CO INC 21,721 21,721
    MCDONALDS CORP 133,533 133,533
    MCKESSON CORP 21,652 21,652
    MEDIOBANCA BANCA DI CREDITO FI 23,298 23,298
    MEDTRONIC PLC 118,248 118,248
    MELCO RESORTS AND ENTERTAINMENT 11,471 11,471
    MERCADOLIBRE INC 9,664 9,664
    MERCK & CO INC 201,417 201,417
    MERCK KGAA SPON ADR 21,683 21,683
    METHANEX CORP 15,655 15,655
    METLIFE INC 29,810 29,810
    METTLER-TOLEDO INTL 9,615 9,615
    MGM RESORTS INTERNATIONAL 10,432 10,432
    MICHAEL KORS HOLDINGS LTD 9,594 9,594
    MICHELIN 22,835 22,835
    MICRO FOCUS INTERNATIONAL PLC 8,863 8,863
    MICROCHIP TECHNOLOGY INC 21,936 21,936
    MICRON TECHNOLOGY 38,615 38,615
    MICROSOFT CORP NOTE 759,540 759,540
    MID AMER APT CMNTYS INC 21,533 21,533
    MITSUBISHI CORP SPONSORED ADR 20,865 20,865
    MITSUBISHI ELEC CORP ADR 45,283 45,283
    MITSUBISHI ESTATE LTD ADR 60,644 60,644
    MITSUBISHI TANABE PHARMA CORP SPON 5,533 5,533
    MITSUBISHI UFJ FINL GROUP INC 80,969 80,969
    MITSUI & CO SPON ADR 52,079 52,079
    MIZUHO FINL GROUP INC SPONSORED ADR 41,859 41,859
    MMC NORILSK NICKEL PJSC ADR 24,707 24,707
    MOBILE TELESYSTEMS PJSC SPON ADR 9,646 9,646
    MOHAWK INDS INC 10,526 10,526
    MOLSON COORS BREWING CO CL B 9,884 9,884
    MOMO INC ADR 10,925 10,925
    MONDELEZ INTL INC 58,404 58,404
    MONSTER BEVERAGE CORP NEW 21,755 21,755
    MOODYS CORP 34,590 34,590
    MORGAN STANLEY 45,598 45,598
    MOSAIC CO NEW 17,526 17,526
    MOTOROLA SOLUTIONS INC 38,884 38,884
    MS&AD INS GROUP HLDGS ADR 8,735 8,735
    MSCI INC 28,012 28,012
    MTN GROUP LTD SPONSORED ADR 6,472 6,472
    MUENCHENER RUECKVERSICHERUNGS 28,122 28,122
    MURATA MFG CO LTD UNSPONSORED ADR 37,621 37,621
    MYLAN NV 12,659 12,659
    NASDAQ INC 23,329 23,329
    NASPERS SPON ADR 109,537 109,537
    NATIONAL AUSTRALIA BANK SPONS ADR 60,201 60,201
    NATIONAL GRID SPON ADR 38,480 38,480
    NATIONAL OILWELL VARCO INC 8,301 8,301
    NATIONAL RETAIL PROPERTIES INC 21,344 21,344
    NATURGY ENERGY GROUP SA UNSPON ADR 10,158 10,158
    NEDBANK GROUP LIMITED SPON ADR 5,309 5,309
    NEKTAR THERAPEUTICS 9,335 9,335
    NESTLE S A SPONSORED ADR 269,725 269,725
    NETAPP INC 21,183 21,183
    NETEASE INC ADR 25,655 25,655
    NETFLIX COM INC 111,347 111,347
    NEW ORIENTAL ED & TECHNOLOGY GP INC 20,225 20,225
    NEWCREST MINING ADR 8,502 8,502
    NEWELL BRANDS INC 8,923 8,923
    NEWMONT MNG CORP HLDG CO 4,054 4,054
    NEXTERA ENERGY INC 77,698 77,698
    NICE LTD ADR 30,407 30,407
    NIDEC CORPORATION 46,960 46,960
    NIELSEN HLDGS PLC FORMERLY NIELSEN 5,972 5,972
    NIKE INC CLASS B 88,820 88,820
    NIKON CORP UNSP ADR 20,460 20,460
    NINTENDO CO LTD ADR 38,803 38,803
    NIPPON TEL &TEL CORP SPON ADR 40,116 40,116
    NISOURCE INC 7,022 7,022
    NISSAN MOTOR CO SPONS ADR 34,260 34,260
    NITTO DENKO CORP ADR 21,143 21,143
    NN GROUP N.V. UNSP ADR 46,056 46,056
    NOAH HOLDINGS LIMITED ADR 9,574 9,574
    NOBLE ENERGY INC 7,767 7,767
    NOKIA OYJ ADR 43,982 43,982
    NOMURA HLDGS INC SPONSORED ADR 32,807 32,807
    NORDEA BK SWEDEN A B SPONSORED ADR 22,687 22,687
    NORDSTROM INC 9,835 9,835
    NORFOLK SOUTHERN CRP 48,750 48,750
    NORSK HYDRO AS SPONSORED ADR 10,193 10,193
    NORTHERN TR CORP 21,817 21,817
    NORTHROP GRUMMAN CORP HOLDING CO 43,347 43,347
    NORWEGIAN CRUISE LINE HLDGS LTD 10,258 10,258
    NOVARTIS A G SPONSORED ADR 205,601 205,601
    NOVO-NORDISK A S ADR 99,511 99,511
    NOVOZYMES A/S UNSP ADR 20,588 20,588
    NRG ENERGY INC 11,365 11,365
    NSK UNSP ADR 3,321 3,321
    NTT DOCOMO INC ADS 40,768 40,768
    NUCOR CORP 10,569 10,569
    NVIDIA CORP 71,690 71,690
    NVR INC 9,748 9,748
    NXP SEMICONDUCTORS NV 23,816 23,816
    OCCIDENTAL PETROLEUM CORP 42,720 42,720
    OIL COMPANY LUKOIL PJSC SPON ADR 79,986 79,986
    OLD DOMINION FGHT LINES INC 10,373 10,373
    OLYMPUS CORPORATION ADR 19,688 19,688
    OMNICOM CAP INC 34,496 34,496
    OMRON CORP SPONSORED ADR 28,255 28,255
    ON SEMICONDUCTOR CRP 9,774 9,774
    ONEOK INC 11,491 11,491
    OPEN TEXT CORP 11,410 11,410
    ORACLE CORP NOTE 130,845 130,845
    ORANGE SPONSORED ADR 6,460 6,460
    OREILLY AUTOMOTIVE INC 26,169 26,169
    ORIX CORPORATION SPON ADR 45,649 45,649
    ORKLA AS SPON ADR 10,200 10,200
    OTSUKA HLDGS CO LTD UNSP ADR 10,361 10,361
    OVERSEA-CHINESE BANKING CORP UNSP 16,704 16,704
    OWENS CORNING NEW 12,051 12,051
    PACCAR INC 12,114 12,114
    PACKAGING CORP AMER 17,276 17,276
    PADDY PWR BETFAIR PLC UNSPONSORED 13,064 13,064
    PALO ALTO NETWORKS INC 17,517 17,517
    PANASONIC CORP ADR 33,759 33,759
    PANDORA AS SPON ADR 7,163 7,163
    PARK24 CO LTD SPONSORED ADR 3,849 3,849
    PARKER HANNIFIN CORP 11,186 11,186
    PARSLEY ENERGY INC CL A 8,549 8,549
    PAYCHEX INC 19,740 19,740
    PAYPAL HLDGS INC 88,295 88,295
    PEARSON SPONS ADR 22,328 22,328
    PEMBINA PIPELINE CORP 32,785 32,785
    PEOPLES UNITED FINANCIAL INC 4,560 4,560
    PEPSICO INC 153,015 153,015
    PERNOD RICARD ADR 52,323 52,323
    PERRIGO CO 6,743 6,743
    PERSIMMON UNSP ADR 6,637 6,637
    PETROCHINA CO ADS 20,496 20,496
    PETROLEO BRASILEIRO SA PETROBRAS 52,900 52,900
    PEUGEOT SA ADR 22,976 22,976
    PFIZER INC 256,182 256,182
    PG&E CORP 10,664 10,664
    PHILIP MORRIS INTL INC 100,006 100,006
    PHILLIPS 66 41,524 41,524
    PING AN INS GROUP CO CHINA LTD SPON 58,221 58,221
    PINNACLE WEST CAP CP 8,179 8,179
    PIONEER NATURAL RESOURCES CO 23,279 23,279
    PLDT INC ADR 29,996 29,996
    PNC FINL SVCS GROUP 52,142 52,142
    POLARIS INDS INC 8,895 8,895
    PORSCHE AUTOMOBIL HOLDING SE UNSP 19,905 19,905
    POSCO ADR 81,751 81,751
    PPG INDUSTRIES 24,944 24,944
    PPL CORP 23,061 23,061
    PRICE T ROWE GROUP INC 24,557 24,557
    PRINCIPAL FINANCIAL GROUP 24,956 24,956
    PROCTER AND GAMBLE CO 227,870 227,870
    PROGRESSIVE CORP OHIO 54,297 54,297
    PROLOGIS INC 53,611 53,611
    PROSIEBENSAT1 MEDIA SE UNSP ADR 7,688 7,688
    PRUDENTIAL ADR 58,078 58,078
    PRUDENTIAL FINL INC 26,178 26,178
    PRYSMIAN SPA ADR 11,069 11,069
    PT ASTRA INTL TBK UNSPONSORD ADR 4,965 4,965
    PT BK CENT ASIA TBK ADR 18,668 18,668
    PT SEMEN INDONESIA PERSERO TBK 18,473 18,473
    PTC INC 10,611 10,611
    PUBLIC SERVICE ENTERPRISE GROUP INC 24,776 24,776
    PUBLIC STORAGE 39,672 39,672
    PUBLICIS S A NEW SPONSORED ADR 13,396 13,396
    PULTEGROUP INC FORMERLY PULTE CORP 14,450 14,450
    PVH CORP 12,920 12,920
    QBE INS GROUP LTD SPONSORED ADR 34,206 34,206
    QIAGEN NVV 15,158 15,158
    QORVO INC 10,385 10,385
    QUALCOMM INC 76,487 76,487
    QUEST DIAGNOSTICS INC 21,400 21,400
    QURATE RETAIL INC 9,858 9,858
    RAKUTEN INC ADR 5,521 5,521
    RALPH LAUREN CORP 10,139 10,139
    RANDGOLD RES LTD ADR 29,775 29,775
    RANDSTAD NV UNSP ADR 10,334 10,334
    RAYMOND JAMES FINANCIAL INC 10,938 10,938
    RAYTHEON CO 42,938 42,938
    REALTY INCOME CORP 23,955 23,955
    RECKITT BENCKISER GROUP PLC SPON 60,973 60,973
    RED ELECTRICA CORP UNSP ADR 40,026 40,026
    RED HAT INC 51,287 51,287
    REGENCY CTRS CORP 21,594 21,594
    REGENERON PHARMACEUTICALS 26,892 26,892
    REGIONS FINL CORP 9,714 9,714
    REINSURANCE GROUP AMER INC 7,012 7,012
    RELX PLC SPON ADS 37,039 37,039
    RENAISSANCERE HOLDINGS LTD 7,086 7,086
    RENAULT SA UNSPON ADR 16,688 16,688
    REPSOL SA SPONSORED ADR 40,481 40,481
    REPUBLIC SERVICES INC 11,390 11,390
    RESMED INC 25,279 25,279
    RESTAURANT BRANDS INTERNATIONAL INC 22,228 22,228
    RIO TINTO ADR 37,039 37,039
    ROBERT HALF INTL INC 10,353 10,353
    ROCHE HLDG LTD SPONSORED ADR 192,678 192,678
    ROCKWELL AUTOMATION INC 21,368 21,368
    ROGERS COMMUNICATIONS INC 10,303 10,303
    ROLLINS INC 18,555 18,555
    ROLLS ROYCE HOLDINGS SPON ADR 23,764 23,764
    ROPER TECHNOLOGIES INC 57,568 57,568
    ROSS STORES INC 27,622 27,622
    ROYAL BANK OF CANADA 112,304 112,304
    ROYAL BK SCOTLAND GROUP PLC SPONS 23,752 23,752
    ROYAL CARIBBEAN CRUISESV 21,220 21,220
    ROYAL DSM N V SPON ADR 11,781 11,781
    ROYAL DUTCH SHELL ADR 140,023 140,023
    ROYAL DUTCH SHELL PLC SPON ADR B 124,136 124,136
    ROYAL MAIL PLC ADR 6,300 6,300
    RWE AG ADR 13,788 13,788
    RYANAIR HOLDINGS PLC ADR 27,181 27,181
    RYOHIN KEIKAKU CO 15,245 15,245
    S&P GLOBAL INC 53,871 53,871
    SAFRAN S A SPON ADR 57,684 57,684
    SAINSBURY 10,274 10,274
    SALESFORCE COM INC 98,481 98,481
    SAMPO PLC UNSP ADR 37,124 37,124
    SANDS CHINA LTD UNSP ADR 9,682 9,682
    SANDVIK AB ADR 23,300 23,300
    SANLAM ADR 14,179 14,179
    SANOFI SPONSORED ADR 113,213 113,213
    SANTEN PHARMACEUTICAL CO 21,077 21,077
    SAP SE SPON ADR 112,890 112,890
    SASOL SPON ADR 46,132 46,132
    SBA COMMUNICATIONS CORP NEW CL A 34,483 34,483
    SBERBANK OF RUSSIA SPON ADR 38,152 38,152
    SCANA CORP NEW 13,570 13,570
    SCHLUMBERGER LIMITED 55,635 55,635
    SCHNEIDER ELECTRIC SE ADR 51,530 51,530
    SCHWAB CHARLES CORP NEW 62,004 62,004
    SCOR SPONSORED ADR 20,840 20,840
    SEAGATE TECHNOLOGY PLC 10,535 10,535
    SEATTLE GENETICS INC 10,029 10,029
    SECOM LTD ADR 58,438 58,438
    SEI INVESTMENTS CO 16,540 16,540
    SEIKO EPSON CORP ADR 19,493 19,493
    SEKISUI HOUSE LTD SPONSORED ADR 4,324 4,324
    SEMICONDUCTOR MANUFACTURING INTL 11,030 11,030
    SEMPRA ENERGY 25,425 25,425
    SENSATA TECHNOLOGIES HLDGS NVV 10,717 10,717
    SERVICENOW INC 40,595 40,595
    SEVEN &I HOLDINGS CO LTD UNSP ADR 71,494 71,494
    SGS SA UNSPONSORED ADR 32,753 32,753
    SHAW COMMUNICATIONS INC CL B CONV 21,310 21,310
    SHERWIN WILLIAMS CO 27,149 27,149
    SHIMANO INC UNSP ADR 33,003 33,003
    SHIN ETSU CHEM CO LTD ADR 49,539 49,539
    SHINHAN FINANCIAL GROUP CO LTD SPONS 100,969 100,969
    SHIRE PLC SPONSORED ADR 65,439 65,439
    SHISEIDO SPONSORED ADR 37,816 37,816
    SHOPRITE HLDGS LTD SPONSORED ADR 13,854 13,854
    SIAM COML BK PUB LTD ADR 34,976 34,976
    SIEMENS AG SPON ADR 80,707 80,707
    SIGNATURE BK NEW YORK NY 9,459 9,459
    SIMON PPTY GRP INC 101,298 101,298
    SINA CORP 17,218 17,218
    SINGAPORE EXCHANGE UNSP ADR 17,232 17,232
    SINGAPORE TELECOMMUNICATNS LTD 35,212 35,212
    SINOPEC SHANGHAI PETROCHEMICAL CO 16,919 16,919
    SIRIUS XM HLDGS INC 26,626 26,626
    SK TELECOM LTD SPONSORED ADR 86,055 86,055
    SKANDINAVISKA ENSKILDA BANKEN 11,216 11,216
    SKF AB SPONSORED ADR 7,340 7,340
    SKYWORKS SOLUTIONS INC 10,857 10,857
    SL GREEN RLTY CORP 7,908 7,908
    SMC CORP JAPAN SPONSORED ADR 33,326 33,326
    SMITH & NEPHEW ADR 44,071 44,071
    SMITH AO CORP 10,205 10,205
    SMITHS GROUP PLC SPON ADR 23,226 23,226
    SMUCKER J M CO 60,208 60,208
    SOCIEDAD QUIMICA MINERA DE CHI SPON ADR 5,860 5,860
    SOCIETE GENERALE FRANCE SPONSORED 15,044 15,044
    SODEXO SPON ADR 22,426 22,426
    SOFTBANK GROUP CORP UNSP ADR 58,093 58,093
    SONIC HEALTHCARE SPON ADR 31,194 31,194
    SONOVA HOLDING AG UNSP ADR 35,906 35,906
    SONY CORP SPON ADR 83,138 83,138
    SOUTH32 LTD SPON ADR 23,560 23,560
    SOUTHERN CO 40,319 40,319
    SOUTHERN COPPER CORP 9,693 9,693
    SOUTHWEST AIRLS CO NOTE 9,575 9,575
    SPARK NEW ZEALAND 25,588 25,588
    SPIRIT AEROSYSTEMS HLDGS INC CL A 9,948 9,948
    SPLUNK INC 31,770 31,770
    SQUARE INC CL A 23,614 23,614
    SS&C TECHNOLOGIES HLDGS INC 18,179 18,179
    SSE PLC SPONSORED ADR 12,934 12,934
    STANDARD BK GROUP LTD SPONSORED 14,481 14,481
    STANLEY BLACK & DECKER INC 23,230 23,230
    STARBUCKS CORP 80,629 80,629
    STATE STR CORP 24,156 24,156
    STEEL DYNAMICS INC 9,523 9,523
    STMICROELECTRONICS NY SHS 21,139 21,139
    STORA ENSO CORP SPON ADR 18,550 18,550
    STRYKER CORP NOTE CALL 45,614 45,614
    SUBARU CO LTD UNSPON ADR 22,618 22,618
    SUEZ ADR 6,597 6,597
    SUMITOMO CHEM CO LTD ADR 22,614 22,614
    SUMITOMO CORP SPONSORED ADR 31,182 31,182
    SUMITOMO MITSUI FINL GROUP INC 57,750 57,750
    SUMITOMO MITSUI TRUST HOLDINGS INC 10,298 10,298
    SUN HUNG KAI PROPERTIES LTD SPND 63,302 63,302
    SUN LIFE FINANCIAL INC 34,750 34,750
    SUNCOR ENERGY 55,968 55,968
    SUNTORY BEVERAGE & FOOD LIMITED 27,125 27,125
    SUNTRUST BANKS INC 30,415 30,415
    SURGUTNEFTEGAZ ADR 9,813 9,813
    SUZUKI MTR CORP ADR 17,861 17,861
    SVB FINL GROUP 17,852 17,852
    SVENSKA HANDELSBANKEN AB ADR 12,308 12,308
    SWATCH GROUP AGADR 14,687 14,687
    SWEDBANK AB SPD ADR 13,829 13,829
    SWIRE PACIFIC ADR 14,418 14,418
    SWISS RE LTD SPONSORED ADR 26,763 26,763
    SYMANTEC CORP 9,977 9,977
    SYMRISE AG UNSP ADR 22,027 22,027
    SYNCHRONY FINANCIAL 22,709 22,709
    SYNOPSYS INC 8,845 8,845
    SYSCO CORP 58,211 58,211
    SYSMEX CORP ADR 20,846 20,846
    T MOBILE US INC 12,086 12,086
    TAIWAN SEMICONDUCTOR MFG LTD 281,291 281,291
    TAKEDA PHARMACEUTICAL CO 37,105 37,105
    TAKE-TWO INTERACTIVE SOFTWARE 15,750 15,750
    TAL EDUCATION GROUP SPON ADS 21,024 21,024
    TAPESTRY INC 9,956 9,956
    TARGA RES CORP 8,933 8,933
    TARGET CORP 40,117 40,117
    TATA MOTORS LIMITED ADR 42,228 42,228
    TATNEFT PJSC ADS 5,552 5,552
    TD AMERITRADE HLDG CORP 22,179 22,179
    TDK CORP AMERN DEP SH 9,992 9,992
    TE CONNECTIVITY LTD 37,588 37,588
    TECHNIPFMC PLC 9,320 9,320
    TECHTRONIC INDUSTRIES CO ADR 7,014 7,014
    TECK RESOURCES LIMITED CLASS B SUB 15,703 15,703
    TELECOM ITALIA S P A NEW SPON ADR 7,154 7,154
    TELEFLEX INC 12,149 12,149
    TELEFONICA SA ADR 14,957 14,957
    TELEKOMUNIKASI INDONESIA 35,252 35,252
    TELENOR ASA ADR 10,891 10,891
    TELSTRA CORP LTD SPON ADR 20,385 20,385
    TENAGA NASIONAL BERHAD SPONSORED 8,359 8,359
    TENARIS S A SPONSORED ADR 16,331 16,331
    TENCENT HOLDINGS LIMITED UNSP ADR 256,719 256,719
    TERNA RETE ELETTRICA NAZIONALE ADR 37,998 37,998
    TESCO SPON ADR 38,116 38,116
    TESLA INC 42,598 42,598
    TEVA PHARMACEUTICAL INDUSTRIES SPON 16,314 16,314
    TEXAS INSTRUMENTS INC 85,617 85,617
    TEXTRON INC 10,164 10,164
    THERMO FISHER SCIENTIFIC INC 84,593 84,593
    THK CO LTD UNSP ADR 3,637 3,637
    THOMSON REUTERS CORP 30,339 30,339
    THYSSENKRUPP AG SPON ADR 10,000 10,000
    TIFFANY &CO NEW 8,937 8,937
    TIM PARTICIPACOES SA SPON ADR 7,747 7,747
    TJX COS INC NEW 66,931 66,931
    TOKIO MARINE HOLDINGS INC ADR 54,596 54,596
    TOKYO ELECTRON LTD ADR 31,739 31,739
    TORAY INDS INC ADR 31,538 31,538
    TORCHMARK CORP 31,303 31,303
    TORONTO-DOMINION BANK COM NPV 99,142 99,142
    TOSHIBA CORP ADR 18,748 18,748
    TOTAL S A SPONSORED ADR 141,043 141,043
    TOTAL SYS SVCS INC 21,135 21,135
    TOYOTA MOTOR CORP SP ADR 168,316 168,316
    TRACTOR SUPPLY CO 10,513 10,513
    TRANSCANADA CORPORATION COM NPV 37,128 37,128
    TRANSDIGM GROUP INC 13,262 13,262
    TRANSUNION 16,699 16,699
    TRAVELERS COMPANIES INC 26,345 26,345
    TREASURY WINE ESTATES LTD SPON ADR 27,246 27,246
    TREND MICRO INC SPONS ADR NEW 6,747 6,747
    TRIMBLE INC 10,038 10,038
    TRIPADVISOR INC 7,713 7,713
    TURKCELL ILETISIM HIZMET ADS 10,245 10,245
    TURKIYE GARANTI BANKASI AS ADS 6,632 6,632
    TURQUOISE HILL RES LTD 10,382 10,382
    TWENTY-FIRST CENTY FOX INC CL A 51,200 51,200
    TWENTY-FIRST CENTY FOX INC CL B 31,630 31,630
    TWITTER INC 22,216 22,216
    TYSON FOODS INC CL A 13,510 13,510
    UBISOFT ENTMT SA ADR 11,505 11,505
    UBS GROUP 59,944 59,944
    UDR INC 21,474 21,474
    UGI CORP NEW 11,790 11,790
    ULTA BEAUTY INC 11,507 11,507
    ULTRAPAR PARTICIPACOES SA 14,799 14,799
    UMICORE UNSP ADR 18,501 18,501
    UNICHARM CORP SPON ADR 23,753 23,753
    UNICREDIT SPA UNSPON ADR 23,236 23,236
    UNILEVER NV 80,323 80,323
    UNILEVER PLC SPON ADR NEW 67,350 67,350
    UNION PACIFIC CORP 115,146 115,146
    UNITED MICROELECTRONICS 61,886 61,886
    UNITED OVERSEAS BANK LTD SPRD ADR 66,049 66,049
    UNITED PARCEL SVC INC CL B 67,881 67,881
    UNITED RENTALS INC 10,663 10,663
    UNITED TECHNOLOGIES CORP 50,578 50,578
    UNITED THERAPEUTICS CORP 10,128 10,128
    UNITED UTILITIES GROUP PLC SPONSORED 26,834 26,834
    UNITEDHEALTH GROUP 246,131 246,131
    UNIVERSAL HEALTH SVCS INC CL B 12,472 12,472
    UNUM GROUP 4,995 4,995
    UPM KYMMENE CORP SPONSORED ADR 33,424 33,424
    US BANCORP 66,037 66,037
    VAIL RESORTS INC 9,276 9,276
    VALE S.A. SPONS ADS 44,318 44,318
    VALEO ADR 14,464 14,464
    VALERO ENERGY CORP 36,061 36,061
    VARIAN MED SYS INC 18,696 18,696
    VEDANTA LIMITED ADS 73,360 73,360
    VEEVA SYS INC CL A 10,897 10,897
    VENTAS INC 23,436 23,436
    VEOLIA ENVIRONNEMENT SPONSORED ADR 11,145 11,145
    VEREIT INC 3,790 3,790
    VERISK ANALYTICS INC 11,013 11,013
    VERIZON COMMUNICATIONS 231,683 231,683
    VERMILION ENERGY INC 8,934 8,934
    VERTEX PHARMACEUTCLS INC 42,587 42,587
    VESTAS WIND SYSTEMS ADR 13,871 13,871
    VF CORP 23,328 23,328
    VIACOM INC NEW CL B 9,381 9,381
    VINCI ADR 58,309 58,309
    VIPSHOP HLDGS LTD SPON ADR 7,578 7,578
    VISA INC NOTE 234,062 234,062
    VISTRA ENERGY CORP 10,667 10,667
    VIVENDI SA ADR 25,859 25,859
    VMWARE INC CL A 9,873 9,873
    VODACOM GROUP LTD-SP ADR 13,232 13,232
    VODAFONE GROUP SPON ADR 42,975 42,975
    VOLKSWAGEN AG ADR 24,361 24,361
    VOLVO 27,155 27,155
    VORNADO RLTY TR 19,974 19,974
    VOYA FINL INC 9,915 9,915
    VULCAN MATERIALS CO 13,634 13,634
    WABCO HLDGS INC 8,373 8,373
    WABTEC CORP 8,641 8,641
    WALGREENS BOOTS ALLIANCE INC 60,745 60,745
    WAL-MART DE MEXICO SAB DE CV ADR 36,749 36,749
    WALMART INC 152,487 152,487
    WASTE CONNECTIONS INC 37,793 37,793
    WASTE MANAGEMENT INC 28,032 28,032
    WATERS CORP 13,771 13,771
    WAYFAIR INC CL A 8,918 8,918
    WEC ENERGY GROUP INC 23,964 23,964
    WEIBO CORP SPONSORED ADR 11,452 11,452
    WEICHAI POWER CO UNSP ADR 6,219 6,219
    WELLCARE HEALTH PLANS INC 10,624 10,624
    WELLS FARGO CO NEW 210,171 210,171
    WELLTOWER INC 38,106 38,106
    WEST JAPAN RAILWAY CO UNSPON ADR 46,829 46,829
    WESTERN DIGITAL CORP DEL 16,082 16,082
    WESTLAKE CHEM CORP 9,727 9,727
    WESTPAC BANKING CORPORATION 81,829 81,829
    WESTROCK CO 6,835 6,835
    WEYERHAEUSER CO 21,270 21,270
    WH GROUP LIMITED SPON ADR 6,978 6,978
    WHARF HLDGS LTD ADR 2,736 2,736
    WHEATON PRECIOUS METALS CORP 13,163 13,163
    WHIRLPOOL CORP 9,618 9,618
    WHITBREAD SPON ADR 4,461 4,461
    WILLIAMS COS INC 12,657 12,657
    WILLIS TOWERS WATSON PLC 11,997 11,997
    WIPRO SPON ADR 82,967 82,967
    WIRECARD AG UNSPON ADR 24,280 24,280
    WIX.COM LTD 10,118 10,118
    WM MORRISON SUPERMARKETS PLC 24,376 24,376
    WOLTERS KLUWERS SPON ADR 25,453 25,453
    WOODSIDE PETE LTD SPONSORED ADR 36,447 36,447
    WOOLWORTHS HLDGS LTD SPON GDR NEW 24,730 24,730
    WOORI BANK ADR 85,461 85,461
    WORKDAY INC 24,750 24,750
    WORLDPAY GROUP PLC UNSPON ADR 23,999 23,999
    WP CAREY INC 10,781 10,781
    WPP PLC AMERICAN DEPOSITARY SHS 11,946 11,946
    WR BERKLEY CORPORATION 26,386 26,386
    WYNN MACAU LTD UNSP ADR 9,882 9,882
    WYNN RESORTS LTD 10,386 10,386
    XCEL ENERGY INC 53,606 53,606
    XEROX CORP 11,402 11,402
    XILINX INC 23,677 23,677
    XPO LOGISTICS INC 8,784 8,784
    XYLEM INC 11,743 11,743
    YAHOO JAPAN CORP ADR 2,977 2,977
    YAMAHA CORP SPONSORED ADR 23,674 23,674
    YARA INTERNATIONAL ASA SPONS ADR 14,173 14,173
    YASKAWA ELECTRIC CORP ADR 17,607 17,607
    YUM BRANDS INC 41,824 41,824
    YUM CHINA HLDGS INC 21,258 21,258
    YY INC ADS 7,363 7,363
    ZALANDO SE UNSP ADR 8,914 8,914
    ZIMMER BIOMET HLDGS INC 24,685 24,685
    ZOETIS INC 48,159 48,159
    ZURICH INSURANCE GROUP AG SPON ADR 59,295 59,295

    TY 2018 InvestmentsGovtObligationsSch
    Name:
    THE HOFFMANN SCHROEPFER FOUNDATION
    EIN:
    81-4429034
    US Government Securities - End of Year Book Value:

    16,448,727
    US Government Securities - End of Year Fair Market Value:

    16,448,727
    State & Local Government Securities - End of Year Book Value:


    899,277
    State & Local Government Securities - End of Year Fair Market Value:


    899,277


    TY 2018 InvestmentsOtherSchedule2
    Name:
    THE HOFFMANN SCHROEPFER FOUNDATION
    EIN:
    81-4429034
    Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
    ACCRUED INTEREST FMV 255,118 255,118

    TY 2018 OtherDecreasesSchedule
    Name:
    THE HOFFMANN SCHROEPFER FOUNDATION
    EIN:
    81-4429034
    Description Amount
    UNREALIZED LOSS ON INVESTMENTS 5,374,767


    TY 2018 OtherExpensesSchedule
    Name:
    THE HOFFMANN SCHROEPFER FOUNDATION
    EIN:
    81-4429034
    Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    AMORTIZATION OF PREMIUM/DISCOUNT 171,666 171,666   0
    OTHER INVESTMENT EXPENSES 22,262 22,262   0
    LICENSES AND FEES 310 0   310


    TY 2018 OtherIncomeSchedule2
    Name:
    THE HOFFMANN SCHROEPFER FOUNDATION
    EIN:
    81-4429034
    Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
    EXCISE TAX BENEFIT 23,000   23,000


    TY 2018 OtherLiabilitiesSchedule
    Name:
    THE HOFFMANN SCHROEPFER FOUNDATION
    EIN:
    81-4429034
    Description Beginning of Year - Book Value End of Year - Book Value
    EXCISE TAX PAYABLE 90,000 0
    DEFERRED TAX LIABILITY 62,000 39,000


    TY 2018 OtherProfessionalFeesSchedule
    Name:
    THE HOFFMANN SCHROEPFER FOUNDATION
    EIN:
    81-4429034
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    INVESTMENT MANAGEMENT FEES 493,609 493,609   0
    INVESTMENT CONSULTING FEES 5,000 5,000   0


    TY 2018 TaxesSchedule
    Name:
    THE HOFFMANN SCHROEPFER FOUNDATION
    EIN:
    81-4429034
    Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
    FOREIGN TAX 63,538 63,538   0