TY 2017 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

Do not enter social security numbers on this form as it may be made public.
bullet

Go to www.irs.gov/Form990PF for instructions and the latest information.

OMB No. 1545-0052

2019

Open to Public Inspection

For calendar year 2019, or tax year beginning 11-01-2017 , and ending 10-31-2018

Name of foundation
TW LUCY C HARRIS EU

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

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

A Employer identification number

58-6163830

B Telephone number (see instructions)

(888) 730-4933

C If exemption application is pending, check here bullet

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

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

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

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

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

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

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

$10,005,757J Accounting method: Cash Accrual
Other (specify)
(Part I, column (d) must be on cash basis.)

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


1	Contributions, gifts, grants, etc., received (attach schedule)
2	Check .............
3	Interest on savings and temporary cash investments
4	Dividends and interest from securities...	220,990		220,494
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		40,575
b	Gross sales price for all assets on line 6a 3,144,695
7	Capital gain net income (from Part IV, line 2)...			40,575
8	Net short-term capital gain.........				0
9	Income modifications...........
10a	Gross sales less returns and allowances
b	Less: Cost of goods sold....
c	Gross profit or (loss) (attach schedule).....
11	Other income (attach schedule).......		6,894	3,916
12	Total. Add lines 1 through 11........	268,459		264,985
13	Compensation of officers, directors, trustees, etc.	119,959		76,463		43,496
14	Other employee salaries and wages......			0	0	0
15	Pension plans, employee benefits.......			0	0
16a	Legal fees (attach schedule).........					0
b	Accounting fees (attach schedule).......		1,138	0	0	1,138
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		5,302	4,402		0
19	Depreciation (attach schedule) and depletion...		0	0
20	Occupancy..............
21	Travel, conferences, and meetings.......			0	0
22	Printing and publications..........			0	0
23	Other expenses (attach schedule).......		221	221
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	126,620		81,086	0	44,634
25	Contributions, gifts, grants paid.......	396,000				396,000
26	Total expenses and disbursements. Add lines 24 and 25	522,620		81,086	0	440,634
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-254,161
b	Net investment income (if negative, enter -0-)			183,899
c	Adjusted net income (if negative, enter -0-)...				0

For Paperwork Reduction Act Notice, see instructions.

Cat. No. 11289X Form 990-PF (2019)

Form 990-PF (2019)

Page 2

Part II		Balance Sheets	Beginning of year	End of year
Part II		Balance Sheets	(a) Book Value	(b) Book Value	(c) Fair Market Value
	1	Cash—non-interest-bearing.............
	2	Savings and temporary cash investments.........	522,459	279,164	279,164
	3	Accounts receivable
		Less: allowance for doubtful accounts		0	0
	4	Pledges receivable
		Less: allowance for doubtful accounts
	5	Grants receivable.................
	6	Receivables due from officers, directors, trustees, and other
		disqualified persons (attach schedule) (see instructions).....
	7	Other notes and loans receivable (attach schedule)
		Less: allowance for doubtful accounts 0
	8	Inventories for sale or use..............
	9	Prepaid expenses and deferred charges..........
	10a	Investments—U.S. and state government obligations (attach schedule)
	b	Investments—corporate stock (attach schedule).......
	c	Investments—corporate bonds (attach schedule).......
	11	Investments—land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	12	Investments—mortgage loans.............
	13	Investments—other (attach schedule)..........	8,648,824	8,632,400	9,726,593
	14	Land, buildings, and equipment: basis
		Less: accumulated depreciation (attach schedule)
	15	Other assets (describe )
	16	Total assets (to be completed by all filers—see the
		instructions. Also, see page 1, item I)	9,171,283	8,911,564	10,005,757
	17	Accounts payable and accrued expenses..........
	18	Grants payable.................
	19	Deferred revenue.................
	20	Loans from officers, directors, trustees, and other disqualified persons
	21	Mortgages and other notes payable (attach schedule)......
	22	Other liabilities (describe )
	23	Total liabilities (add lines 17 through 22).........		0
		Foundations that follow FASB ASC 958, check here
		and complete lines 24, 25, 29 and 30.
	24	Net assets without donor restrictions...........
	25	Net assets with donor restrictions............
		Foundations that do not follow FASB ASC 958, check here
		and complete lines 26 through 30.
	26	Capital stock, trust principal, or current funds........	9,171,283	8,911,564
	27	Paid-in or capital surplus, or land, bldg., and equipment fund
	28	Retained earnings, accumulated income, endowment, or other funds
	29	Total net assets or fund balances (see instructions).....	9,171,283	8,911,564
	30	Total liabilities and net assets/fund balances (see instructions).	9,171,283	8,911,564

Part III

Analysis of Changes in Net Assets or Fund Balances

Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............

9,171,283

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

-254,161

Other increases not included in line 2 (itemize) bullet

2,868

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

8,919,990

Decreases not included in line 2 (itemize) bullet

8,426

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .

8,911,564

Form 990-PF (2019)

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	3000. RICE ENERGY INC 6.250% 5/01/22		2016-10-06	2017-11-11
b	351.28 FHLMC POOL #G08669 4.000% 9/01/45		2015-11-09	2017-11-15
c	362.89 FHLMC POOL #G08641 3.500% 5/01/45		2015-06-08	2017-11-15
d	27. FHLMC POOL #C09066 3.500% 10/01/44		2014-11-07	2017-11-15
e	221.95 FHLMC POOL #G60384 4.500% 12/01/45			2017-11-15
	16. CDK GLOBAL INC			2017-11-16
	72. DAVITA HEALTHCARE PARTNERS INC			2017-11-16
	30. KAR AUCTION SERVICES INC		2013-03-15	2017-11-16
	16. LEUCADIA NATL CORP COM		2012-08-10	2017-11-16
	8. LIBERTY SIRIUSXM GROUP		2012-08-10	2017-11-16
	9. LIBERTY SIRIUSXM GROUP		2017-03-14	2017-11-16
	13. MOTOROLA SOLUTIONS, INC.		2012-08-10	2017-11-16
	4. MOTOROLA SOLUTIONS, INC.		2017-03-14	2017-11-16
	5. AXALTA COATING SYSTEMS LTD		2017-03-14	2017-11-16
	34. AXALTA COATING SYSTEMS LTD			2017-11-16
	8. NVR INC COM		2017-08-10	2017-11-17
	35. DAVITA HEALTHCARE PARTNERS INC			2017-11-22
	30. KAR AUCTION SERVICES INC		2013-03-15	2017-11-22
	15. LEUCADIA NATL CORP COM		2012-08-10	2017-11-22
	14. LIBERTY SIRIUSXM GROUP		2012-08-10	2017-11-22
	16. MOTOROLA SOLUTIONS, INC.		2012-08-10	2017-11-22
	5143. E-TRACS ALERIAN MLP INFRASTRUCTURE		2016-10-13	2017-11-27
	1767. E-TRACS ALERIAN MLP INFRASTRUCTURE		2017-04-19	2017-11-27
	.456 INVITATION HOMES INC		2017-09-07	2017-11-28
	3000. SLM CORP 7.250% 1/25/22		2017-05-22	2017-11-28
	25000. US TREASURY NOTE 3.500% 2/15/18		2016-04-19	2017-11-28
	3000. TESORO LOGISTICS LP/ 6.125% 10/15/21		2017-04-28	2017-12-01
	45. DAVITA HEALTHCARE PARTNERS INC			2017-12-06
	5. DAVITA HEALTHCARE PARTNERS INC		2017-03-14	2017-12-06
	15. DOLLAR TREE INC			2017-12-06
	16. LIBERTY BROADBAND CORP			2017-12-06
	30. SENSATA TECHNOLOGIES HOLDING		2012-08-10	2017-12-06
	5. SENSATA TECHNOLOGIES HOLDING		2017-03-14	2017-12-06
	1.44 LENNAR CORP			2017-12-08
	.56 LENNAR CORP			2017-12-08
	3000. NRG ENERGY INC 6.625% 3/15/23			2017-12-13
	279.07 FHLMC POOL #G08669 4.000% 9/01/45		2015-11-09	2017-12-15
	300.34 FHLMC POOL #G08641 3.500% 5/01/45		2015-06-08	2017-12-15
	26.49 FHLMC POOL #C09066 3.500% 10/01/44		2014-11-07	2017-12-15
	289.9 FHLMC POOL #G60384 4.500% 12/01/45			2017-12-15
	.12 LENNAR CORP		2017-03-01	2017-12-19
	.32 LENNAR CORP		2016-03-14	2017-12-19
	121. FOX FACTORY HOLDING CORP		2017-08-10	2017-12-20
	3000. PVH CORP 4.500% 12/15/22		2015-12-08	2018-01-05
	20. MOTOROLA SOLUTIONS, INC.		2012-08-10	2018-01-12
	16. VERISK ANALYTICS INC			2018-01-12
	222.33 FHLMC POOL #G08669 4.000% 9/01/45		2015-11-09	2018-01-15
	276.97 FHLMC POOL #G08641 3.500% 5/01/45		2015-06-08	2018-01-15
	21.34 FHLMC POOL #C09066 3.500% 10/01/44		2014-11-07	2018-01-15
	398.94 FHLMC POOL #G60384 4.500% 12/01/45			2018-01-15
	2000. T-MOBILE USA INC 6.125% 1/15/22		2014-02-03	2018-01-15
	5000. CHEVRON CORP 4.950% 3/03/19		2016-04-11	2018-01-23
	3. ALPHABET INC/CA		2017-10-18	2018-01-24
	119. AMERIPRISE FINL INC			2018-01-24
	26. BOEING CO		2017-10-18	2018-01-24
	30. CELANESE CORP		2017-10-18	2018-01-24
	86. SPIRIT AEROSYTSEMS HOLD-CL A		2014-10-08	2018-01-24
	2000. SEAGATE HDD CAYMAN 4.750% 1/01/25		2016-10-25	2018-01-31
	29. LEUCADIA NATL CORP COM		2012-08-10	2018-02-05
	22. LOEWS CORP		2012-08-10	2018-02-05
	13. MICROCHIP TECHNOLOGY INC COM		2012-08-10	2018-02-05
	6. MICROCHIP TECHNOLOGY INC COM		2017-03-14	2018-02-05
	15. MOTOROLA SOLUTIONS, INC.		2012-08-10	2018-02-05
	13. VERISIGN INC COM		2012-08-10	2018-02-05
	5. VERISIGN INC COM		2017-03-14	2018-02-05
	51. SENSATA TECHNOLOGIES HOLDING		2012-08-10	2018-02-05
	3000. ISTAR INC 5.250% 9/15/22		2017-10-16	2018-02-09
	3000. WESTERN DIGITAL COR 10.500% 4/01/24		2017-02-10	2018-02-09
	23. UNION PACIFIC CORP		2017-10-18	2018-02-13
	252.75 FHLMC POOL #G08669 4.000% 9/01/45		2015-11-09	2018-02-15
	250. FHLMC POOL #G08641 3.500% 5/01/45		2015-06-08	2018-02-15
	20. FHLMC POOL #C09066 3.500% 10/01/44		2014-11-07	2018-02-15
	156.77 FHLMC POOL #G60384 4.500% 12/01/45			2018-02-15
	10000. KINDER MORGAN ENER 5.950% 2/15/18		2016-04-11	2018-02-15
	36. LEUCADIA NATL CORP COM		2012-08-10	2018-02-22
	21. LOEWS CORP		2012-08-10	2018-02-22
	44. SENSATA TECHNOLOGIES HOLDING		2012-08-10	2018-02-22
	280.978 T ROWE PRICE BLUE CHIP-I #429		2017-10-18	2018-02-26
	1000. AES CORPORATION 8.000% 6/01/20		2014-11-17	2018-03-01
	510. AMERICAN ASSETS TRUST INC			2018-03-02
	279. AMERICAN CAMPUS CMNTYS INC			2018-03-02
	207. AMERICAN TOWER REIT		2017-09-07	2018-03-02
	212. APARTMENT INVT & MGMT CO CL A		2017-09-07	2018-03-02
	29. BOSTON PROPERTIES INC COM			2018-03-02
	333. CHESAPEAKE LODGING TRUST			2018-03-02
	306. CORESITE REALTY CORP			2018-03-02
	306. CORPORATE OFFICE PROPERTIES COM		2017-09-07	2018-03-02
	266. CROWN CASTLE INTL CORP			2018-03-02
	117. DIGITAL RLTY TR INC			2018-03-02
	119. EPR PROPERTIES		2017-09-07	2018-03-02
	178. EXTRA SPACE STORAGE INC			2018-03-02
	323. FIRST INDL RLTY TR INC COM			2018-03-02
	907. GGP INC			2018-03-02
	318. HCP INC		2017-09-07	2018-03-02
	535. HOST HOTELS & RESORTS, INC.			2018-03-02
	576. KIMCO RLTY CORP			2018-03-02
	882. MEDICAL PPTYS TR INC			2018-03-02
	315. MID AMERICA APARTMENT COM			2018-03-02
	420. NATIONAL RETAIL PPTYS INC			2018-03-02
	540. OUTFRONT MEDIA INC			2018-03-02
	654. PIEDMONT OFFICE REALTY TRU-A			2018-03-02
	248. PROLOGIS INC			2018-03-02
	840. RLJ LODGING TRUST			2018-03-02
	249. VENTAS INC COM			2018-03-02
	58. ALEXANDRIA REAL ESTATE EQUITIES		2018-03-02	2018-03-06
	21. ALEXANDRIA REAL ESTATE EQUITIES		2017-11-30	2018-03-06
	111. AMERICAN HOMES 4 RENT		2018-03-02	2018-03-06
	39. AMERICAN TOWER REIT		2017-09-07	2018-03-06
	170. APARTMENT INVT & MGMT CO CL A		2017-09-07	2018-03-06
	74. AVALONBAY CMNTYS INC			2018-03-06
	31. BOSTON PROPERTIES INC COM		2017-09-07	2018-03-06
	190. CISCO SYSTEMS INC		2017-03-21	2018-03-06
	38. COGNIZANT TECH SOLUTIONS CRP COM		2017-10-18	2018-03-06
	51. CORPORATE OFFICE PROPERTIES COM		2017-09-07	2018-03-06
	28. CROWN CASTLE INTL CORP		2017-09-07	2018-03-06
	122. CUBESMART		2018-03-02	2018-03-06
	52. DCT INDUSTRIAL TRUST INC		2018-03-02	2018-03-06
	160. DDR CORP		2018-03-02	2018-03-06
	216. DUKE REALTY CORPORATION		2018-03-02	2018-03-06
	56. EPR PROPERTIES		2017-09-07	2018-03-06
	18. EQUINIX INC		2017-09-07	2018-03-06
	24. EQUINIX INC		2017-09-07	2018-03-06
	40. EQUITY LIFESTYLE PPTYS INC		2018-03-02	2018-03-06
	44. EQUITY RESIDENTIAL PPTYS TR SH BEN		2018-03-02	2018-03-06
	52. ESSEX PPTY TR COM		2018-03-02	2018-03-06
	82. EXTENDED STAY AMERICA INC		2018-03-02	2018-03-06
	71. EXTRA SPACE STORAGE INC		2017-09-07	2018-03-06
	68. FIRST INDL RLTY TR INC COM		2017-09-07	2018-03-06
	62. GGP INC		2017-09-07	2018-03-06
	90. HCP INC		2017-09-07	2018-03-06
	92. HEALTHCARE TRUST OF AME-CL A		2018-03-02	2018-03-06
	38. HILTON GRAND VACATIONS INC		2018-03-02	2018-03-06
	81. HILTON WORLDWIDE HOLDINGS IN		2018-03-02	2018-03-06
	84. HOST HOTELS & RESORTS, INC.		2017-09-07	2018-03-06
	120. HUDSON PACIFIC PROPERTIES INC		2018-03-02	2018-03-06
	138.99806 INVITATION HOMES INC		2017-11-30	2018-03-06
	348.00194 INVITATION HOMES INC			2018-03-06
	50. KILROY REALTY CORP COM		2017-09-07	2018-03-06
	39. KILROY REALTY CORP COM		2017-11-30	2018-03-06
	90.00107 PHYSICIANS REALTY TRUST		2017-09-07	2018-03-06
	118.99893 PHYSICIANS REALTY TRUST		2017-09-07	2018-03-06
	187. PROLOGIS INC		2017-09-07	2018-03-06
	24. PUBLIC STORAGE INC COM		2017-09-07	2018-03-06
	112. REGENCY CENTERS CORP		2018-03-02	2018-03-06
	53. SL GREEN REALTY CORP COM		2018-03-02	2018-03-06
	20. SAUL CTRS INC COM		2018-03-02	2018-03-06
	102.00006 SIMON PROPERTY GROUP INC			2018-03-06
	10.99994 SIMON PROPERTY GROUP INC		2017-09-07	2018-03-06
	297. SPIRIT RLTY CAP INC NEW		2018-03-02	2018-03-06
	254. STORE CAPITAL CORP		2018-03-02	2018-03-06
	63. SUN CMNTYS INC COM		2018-03-02	2018-03-06
	275. SUNSTONE HOTEL INVS INC NEW		2018-03-02	2018-03-06
	91. TANGER FACTORY OUTLET CTR		2018-03-02	2018-03-06
	51. TERRENO REALTY CORP		2018-03-02	2018-03-06
	40. UNITEDHEALTH GROUP INC		2015-02-25	2018-03-06
	28. VICI PROPERTIES INC		2018-03-02	2018-03-06
	30. VORNADO REALTY TRUST		2018-03-02	2018-03-06
	122. WELLTOWER INC		2018-03-02	2018-03-06
	82. WEYERHAEUSER CO		2018-03-02	2018-03-06
	97. INTERXION HOLDING NV		2018-03-02	2018-03-06
	141. AUTOHOME INC-ADR			2018-03-12
	15000. CHEVRON CORP 4.950% 3/03/19		2016-04-11	2018-03-13
	177.61 FHLMC POOL #G08669 4.000% 9/01/45		2015-11-09	2018-03-15
	222.02 FHLMC POOL #G08641 3.500% 5/01/45		2015-06-08	2018-03-15
	15.99 FHLMC POOL #C09066 3.500% 10/01/44		2014-11-07	2018-03-15
	181.42 FHLMC POOL #G60384 4.500% 12/01/45			2018-03-15
	3000. VEREIT OPERATING PAR 4.875% 6/01/26		2016-05-24	2018-03-15
	.75 BROWN FORMAN CORP CL B		2017-05-10	2018-03-16
	18. FIDELITY NATL INFORMATION SVCS INC			2018-03-20
	104. FOREST CITY REALTY TRUST-A			2018-03-20
	10. LOEWS CORP		2012-08-10	2018-03-20
	16. M & T BANK CORPORATION COM			2018-03-20
	33. LIBERTY GLOBAL PLC-A			2018-03-20
	18. SENSATA TECHNOLOGIES HOLDING		2012-08-10	2018-03-20
	5.25 BROWN FORMAN CORP CL B		2016-11-29	2018-04-02
	21.75 BROWN FORMAN CORP CL B		2017-05-10	2018-04-02
	27. FIDELITY NATL INFORMATION SVCS INC		2012-08-10	2018-04-02
	85. FOREST CITY REALTY TRUST-A		2012-08-10	2018-04-02
	40. LEUCADIA NATL CORP COM			2018-04-02
	60. LOEWS CORP		2012-08-10	2018-04-02
	65. AXALTA COATING SYSTEMS LTD			2018-04-02
	127. AFFILIATED MANAGERS GROUP, INC COM		2017-03-21	2018-04-09
	61. AFFILIATED MANAGERS GROUP, INC COM		2017-10-18	2018-04-09
	6. FOX FACTORY HOLDING CORP		2017-08-10	2018-04-09
	83. SUNCOR ENERGY INC NEW F		2017-10-18	2018-04-09
	3000. CNH CAPITAL LLC 3.625% 4/15/18		2015-12-08	2018-04-15
	224.21 FHLMC POOL #G08669 4.000% 9/01/45		2015-11-09	2018-04-15
	252.27 FHLMC POOL #G08641 3.500% 5/01/45		2015-06-08	2018-04-15
	16.83 FHLMC POOL #C09066 3.500% 10/01/44		2014-11-07	2018-04-15
	178.52 FHLMC POOL #G60384 4.500% 12/01/45			2018-04-15
	47. FOREST CITY REALTY TRUST-A		2012-08-10	2018-04-17
	58. LOEWS CORP		2012-08-10	2018-04-17
	28. MACQUARIE INFRASTRUCTURE COMPANY LLC			2018-04-17
	13911.972 PIMCO FOREIGN BD FD USD H-INST #103			2018-04-18
	22. AXALTA COATING SYSTEMS LTD		2016-07-28	2018-04-18
	12. WHITE MTNS INS GROUP			2018-04-18
	1.99978 AMERICAN TOWER REIT		2017-11-30	2018-04-19
	5.00022 AMERICAN TOWER REIT		2017-11-30	2018-04-19
	149. HOST HOTELS & RESORTS, INC.		2017-09-07	2018-04-19
	40. HUDSON PACIFIC PROPERTIES INC		2018-03-02	2018-04-19
	11. SL GREEN REALTY CORP COM		2018-03-02	2018-04-19
	49. STORE CAPITAL CORP		2018-03-02	2018-04-19
	14. INTERXION HOLDING NV		2018-03-02	2018-04-19
	10000. US TREASURY NOTE 2.500% 5/15/24		2016-04-19	2018-04-23
	10000. US TREASURY NOTE 2.500% 5/15/24		2017-06-06	2018-04-23
	18000. FED HOME LN MTG CORP 3.750% 3/27/19			2018-04-24
	275. FOX FACTORY HOLDING CORP		2017-08-10	2018-05-03
	210. FOX FACTORY HOLDING CORP		2017-08-10	2018-05-04
	46. AUTOHOME INC-ADR		2017-08-10	2018-05-08
	1000. DISH DBS CORP 7.875% 9/01/19		2015-11-24	2018-05-08
	1000. DISH DBS CORP 7.875% 9/01/19		2016-02-10	2018-05-09
	63. DOLLAR TREE INC			2018-05-10
	14. ECOLAB INC			2018-05-10
	24. FIDELITY NATL INFORMATION SVCS INC		2012-08-10	2018-05-10
	24. INTUIT COM		2012-08-10	2018-05-10
	83. LOEWS CORP		2012-08-10	2018-05-10
	13. M & T BANK CORPORATION COM		2011-10-17	2018-05-10
	100. MACQUARIE INFRASTRUCTURE COMPANY LLC			2018-05-10
	22. AON PLC			2018-05-10
	20000. BERKSHIRE HATHAWAY 5.400% 5/15/18		2016-04-11	2018-05-15
	179.92 FHLMC POOL #G08669 4.000% 9/01/45		2015-11-09	2018-05-15
	271.82 FHLMC POOL #G08641 3.500% 5/01/45		2015-06-08	2018-05-15
	18.43 FHLMC POOL #C09066 3.500% 10/01/44		2014-11-07	2018-05-15
	305.91 FHLMC POOL #G60384 4.500% 12/01/45			2018-05-15
	29. DUKE REALTY CORPORATION		2018-03-02	2018-05-16
	20. INTERXION HOLDING NV		2018-03-02	2018-05-16
	25000. GENERAL ELEC CAP COR 4.650% 10/17/21		2016-04-28	2018-05-17
	934.842 T ROWE PRICE BLUE CHIP-I #429		2017-10-18	2018-05-22
	46. AT & T INC		2018-02-13	2018-05-23
	11. AMERIPRISE FINL INC		2017-03-21	2018-05-23
	21. APPLE INC		2017-03-21	2018-05-23
	49. BAYER AG - ADR		2017-10-18	2018-05-23
	8. BERSHIRE HATHAWAY INC.		2017-10-18	2018-05-23
	4. BLACKROCK INC		2017-10-18	2018-05-23
	6. BOEING CO		2017-03-21	2018-05-23
	11. CME GROUP INC		2017-03-21	2018-05-23
	35. CVS HEALTH CORPORATION		2018-01-24	2018-05-23
	65. CISCO SYSTEMS INC		2017-03-21	2018-05-23
	41. CITIGROUP INC		2017-10-18	2018-05-23
	47. COMCAST CORP CLASS A		2017-10-18	2018-05-23
	13. DIAGEO PLC - ADR		2017-10-18	2018-05-23
	15. WALT DISNEY CO		2017-03-21	2018-05-23
	12. EOG RESOURCES, INC		2018-04-09	2018-05-23
	23. GILEAD SCIENCES INC		2017-10-18	2018-05-23
	11. HOME DEPOT INC		2017-03-31	2018-05-23
	15. JPMORGAN CHASE & CO		2017-03-21	2018-05-23
	4. JPMORGAN CHASE & CO		2017-10-18	2018-05-23
	26. LAS VEGAS SANDS CORP		2017-03-21	2018-05-23
	19. ELI LILLY & CO COM		2017-10-18	2018-05-23
	111. MANULIFE FINANCIAL CORP		2017-10-18	2018-05-23
	26. MERCK & CO INC NEW		2017-10-18	2018-05-23
	60. MICROSOFT CORP		2017-03-21	2018-05-23
	34. NIKE INC CL B		2017-10-30	2018-05-23
	18. PNC FINANCIAL SERVICES GROUP		2017-10-18	2018-05-23
	74. ROCHE HOLDINGS LTD - ADR		2017-10-18	2018-05-23
	39. SCHLUMBERGER LTD		2018-01-24	2018-05-23
	18. SPIRIT AEROSYTSEMS HOLD-CL A		2017-10-18	2018-05-23
	20. TARGET CORP		2017-03-21	2018-05-23
	13. THERMO FISHER SCIENTIFIC INC		2017-10-18	2018-05-23
	39. TOTAL S.A. - ADR		2017-03-21	2018-05-23
	11. UNION PACIFIC CORP		2017-03-21	2018-05-23
	19. UNITED PARCEL SERVICE-CL B		2017-10-18	2018-05-23
	10. UNITEDHEALTH GROUP INC		2017-03-21	2018-05-23
	19. ZOETIS INC		2017-04-25	2018-05-23
	22. EATON CORP PLC		2017-10-18	2018-05-23
	22. TE CONNECTIVITY LTD		2017-10-18	2018-05-23
	15000. AMGEN INC 5.700% 2/01/19		2016-04-11	2018-05-25
	10000. APPLE INC 2.400% 5/03/23		2016-04-11	2018-05-25
	8000. BANK OF AMERICA CORP 4.125% 1/22/24		2014-06-18	2018-05-25
	11000. CVS CAREMARK CORP 4.125% 5/15/21			2018-05-25
	5000. CITIGROUP INC 2.700% 10/27/22		2017-10-30	2018-05-25
	.5 DDR CORP		2018-03-02	2018-05-25
	22. DOLLAR TREE INC		2015-11-20	2018-05-25
	5000. FED NATL MTG ASSN 6.625% 11/15/30		2014-06-17	2018-05-25
	15000. FED NATL MTG ASSN 2.625% 9/06/24		2016-04-19	2018-05-25
	14. FIDELITY NATL INFORMATION SVCS INC		2012-08-10	2018-05-25
	5000. HALLIBURTON COMPANY 3.500% 8/01/23		2016-04-11	2018-05-25
	10000. HOME DEPOT INC 3.000% 4/01/26		2016-09-20	2018-05-25
	25. INTUIT COM		2012-08-10	2018-05-25
	47. LIBERTY BROADBAND CORP			2018-05-25
	5000. MORGAN STANLEY 2.500% 4/21/21		2017-07-03	2018-05-25
	10000. NOVARTIS CAPITAL COR 3.000% 11/20/25		2016-04-11	2018-05-25
	10000. PEPSICO INC 4.500% 1/15/20		2016-04-11	2018-05-25
	10000. PROCTER & GAMBLE CO/ 2.300% 2/06/22		2016-04-11	2018-05-25
	5000. TIME WARNER INC 4.875% 3/15/20		2017-07-05	2018-05-25
	5000. TIME WARNER INC 4.875% 3/15/20		2016-04-11	2018-05-25
	5000. US TREASURY NOTE 2.750% 2/15/28		2018-04-27	2018-05-25
	15000. US TREASURY NOTE 2.125% 9/30/21			2018-05-25
	15000. US TREASURY NOTE 3.125% 5/15/19		2016-04-19	2018-05-25
	10000. US TREASURY NOTE 2.250% 11/15/25		2017-09-29	2018-05-25
	5000. US TREASURY NOTE 2.000% 12/31/22		2017-03-10	2018-05-25
	10000. US TREASURY NOTE 2.000% 12/31/22		2017-06-30	2018-05-25
	10000. US TREASURY NOTE 2.625% 8/15/20		2016-04-19	2018-05-25
	10000. U S TREASURY NT 3.125% 5/25/21			2018-05-25
	5000. US TREASURY NOTE 1.750% 11/15/26		2017-06-30	2018-05-25
	10000. US TREASURY NOTE 2.500% 5/15/24		2017-06-06	2018-05-25
	5000. US TREASURY NOTE 2.000% 7/31/22		2017-12-01	2018-05-25
	5000. WESTPAC BANKING CORP 3.400% 1/25/28		2018-01-23	2018-05-25
	5000. WESTPAC BANKING CORP 3.400% 1/25/28		2018-01-23	2018-05-25
	25. AON PLC			2018-05-25
	10158.703 ROBECO BP LNG/SHRT RES-INS			2018-05-30
	10000. PEPSICO INC 4.500% 1/15/20		2016-04-11	2018-06-11
	235.93 FHLMC POOL #G08669 4.000% 9/01/45		2015-11-09	2018-06-15
	296.63 FHLMC POOL #G08641 3.500% 5/01/45		2015-06-08	2018-06-15
	16.63 FHLMC POOL #C09066 3.500% 10/01/44		2014-11-07	2018-06-15
	158.37 FHLMC POOL #G60384 4.500% 12/01/45			2018-06-15
	10000. VERIZON COMMUNICATIO 5.150% 9/15/23			2018-06-15
	1.99995 EQUINIX INC		2017-09-07	2018-06-19
	1.00005 EQUINIX INC		2017-09-07	2018-06-19
	4. ESSEX PPTY TR COM		2018-03-02	2018-06-19
	134. PHYSICIANS REALTY TRUST		2017-09-07	2018-06-19
	14. REGENCY CENTERS CORP		2018-03-02	2018-06-19
	8. SIMON PROPERTY GROUP INC		2017-09-07	2018-06-19
	59. STORE CAPITAL CORP		2018-03-02	2018-06-19
	8. SUN CMNTYS INC COM		2018-03-02	2018-06-19
	97. DOLLAR TREE INC			2018-06-22
	5. DOLLAR TREE INC		2018-05-29	2018-06-22
	10. ECOLAB INC		2012-08-10	2018-06-22
	1. ECOLAB INC		2018-05-29	2018-06-22
	24. FIDELITY NATL INFORMATION SVCS INC		2012-08-10	2018-06-22
	4. FIDELITY NATL INFORMATION SVCS INC		2018-05-29	2018-06-22
	12. INTUIT COM		2012-08-10	2018-06-22
	1. INTUIT COM		2018-05-29	2018-06-22
	19. LOEWS CORP		2012-08-10	2018-06-22
	1. LOEWS CORP		2018-05-29	2018-06-22
	33. AON PLC			2018-06-22
	13. AON PLC		2018-05-29	2018-06-22
	3000. RITE AID CORP 6.750% 6/15/21		2015-09-01	2018-06-25
	36.75 BAYER AG ADR- RIGHTS DEEMED 7/15/18		2017-10-18	2018-07-02
	105. BAYER AG ADR- RIGHTS DEEMED 7/15/18		2017-03-21	2018-07-02
	20000. FED HOME LN MTG CORP 3.750% 3/27/19		2016-04-28	2018-07-02
	16. ALEXANDRIA REAL ESTATE EQUITIES		2018-06-19	2018-07-10
	5000. PEPSICO INC 4.500% 1/15/20		2017-08-04	2018-07-11
	160. COMCAST CORP CLASS A		2017-03-21	2018-07-12
	307. COMCAST CORP CLASS A		2017-10-18	2018-07-12
	3000. CSC HOLDINGS INC 7.625% 7/15/18		2013-01-11	2018-07-15
	208.45 FHLMC POOL #G08669 4.000% 9/01/45		2015-11-09	2018-07-15
	281.11 FHLMC POOL #G08641 3.500% 5/01/45		2015-06-08	2018-07-15
	17.11 FHLMC POOL #C09066 3.500% 10/01/44		2014-11-07	2018-07-15
	263.78 FHLMC POOL #G60384 4.500% 12/01/45			2018-07-15
	33. CITIGROUP INC		2017-10-18	2018-07-17
	21. JPMORGAN CHASE & CO		2017-10-18	2018-07-17
	84. MCKESSON CORP		2017-03-21	2018-07-17
	59. MCKESSON CORP		2017-10-18	2018-07-17
	.3 RETAIL VALUE INC		2018-07-02	2018-07-19
	17. AMERICAN TOWER REIT		2017-11-30	2018-07-23
	19. HILTON WORLDWIDE HOLDINGS IN		2018-03-02	2018-07-23
	26. HILTON WORLDWIDE HOLDINGS IN		2018-04-19	2018-07-23
	6. SIMON PROPERTY GROUP INC		2017-09-07	2018-07-23
	61. APPLE INC		2017-03-21	2018-07-24
	80. MICROSOFT CORP		2017-03-21	2018-07-24
	5000. US TREASURY NOTE 2.250% 11/15/25		2017-09-29	2018-07-24
	19. INTERXION HOLDING NV		2018-03-02	2018-07-25
	30. AIR PRODS & CHEMS INC COM			2018-07-26
	6. AIR PRODS & CHEMS INC COM		2018-05-29	2018-07-26
	15. ECOLAB INC		2012-08-10	2018-07-26
	30. FIDELITY NATL INFORMATION SVCS INC		2012-08-10	2018-07-26
	17. INTUIT COM		2012-08-10	2018-07-26
	11. ROSS STORES INC		2017-03-14	2018-07-26
	24. ROSS STORES INC			2018-07-26
	10. S&P GLOBAL INC		2016-01-08	2018-07-26
	7. S&P GLOBAL INC		2018-05-29	2018-07-26
	15. AON PLC			2018-07-26
	1000. ISTAR FINANCIAL INC 5.000% 7/01/19		2016-01-25	2018-07-27
	420. BAYER AG - ADR		2017-03-21	2018-07-30
	147. BAYER AG - ADR		2017-10-18	2018-07-30
	405. ABAXIS INC		2017-08-10	2018-07-31
	6.00189 AUTODESK INC		2018-05-29	2018-08-01
	28. AUTODESK INC		2015-08-27	2018-08-01
	1.99811 AUTODESK INC		2018-05-29	2018-08-01
	143. DDR CORP		2018-03-02	2018-08-01
	138. DUKE REALTY CORPORATION		2018-03-02	2018-08-01
	24. FIDELITY NATL INFORMATION SVCS INC		2012-08-10	2018-08-01
	1000. ISTAR FINANCIAL INC 5.000% 7/01/19		2016-01-25	2018-08-01
	15. MOODYS CORP		2012-08-10	2018-08-01
	12. MOODYS CORP		2018-05-29	2018-08-01
	5. PUBLIC STORAGE INC COM		2017-09-07	2018-08-01
	62. ROSS STORES INC			2018-08-01
	16. S&P GLOBAL INC		2016-01-08	2018-08-01
	33. WEYERHAEUSER CO		2018-03-02	2018-08-01
	15. AON PLC		2014-10-28	2018-08-01
	1. ECHOSTAR CORPORATION		2017-03-14	2018-08-07
	154. CITIGROUP INC		2017-10-18	2018-08-08
	98. HAIN CELESTIAL GROUP INC		2017-10-18	2018-08-08
	21. KILROY REALTY CORP COM		2017-11-26	2018-08-09
	14. RETAIL VALUE INC		2018-07-02	2018-08-09
	31. TANGER FACTORY OUTLET CTR		2018-03-02	2018-08-09
	13371.538 VANGUARD SHORT TERM-INVEST GRD #539			2018-08-09
	205.59 FHLMC POOL #G08669 4.000% 9/01/45		2015-11-09	2018-08-15
	245.01 FHLMC POOL #G08641 3.500% 5/01/45		2015-06-08	2018-08-15
	22.29 FHLMC POOL #C09066 3.500% 10/01/44		2014-11-07	2018-08-15
	205.35 FHLMC POOL #G60384 4.500% 12/01/45			2018-08-15
	3000. NATIONSTAR MORT/CAP 9.625% 5/01/19		2016-01-27	2018-08-15
	6. AIR PRODS & CHEMS INC COM		2018-06-10	2018-08-17
	10. AIR PRODS & CHEMS INC COM		2017-07-27	2018-08-17
	8. MOODYS CORP		2012-08-10	2018-08-17
	6. MOODYS CORP		2018-08-07	2018-08-17
	9. ROPER TECHNOLOGIES INC			2018-08-17
	6. ROPER TECHNOLOGIES INC			2018-08-17
	12. SHERWIN WILLIAMS CO		2017-08-09	2018-08-17
	4. SHERWIN WILLIAMS CO			2018-08-17
	10. AON PLC		2012-08-10	2018-08-17
	7. AON PLC		2018-08-07	2018-08-17
	.6 PROLOGIS INC		2018-08-01	2018-08-28
	16. AIR PRODS & CHEMS INC COM			2018-08-29
	16750.499 OAKMARK INTERNATIONAL-INST #2886			2018-08-29
	1214.856 OAKMARK INTERNATIONAL-INST #2886		2017-11-27	2018-08-29
	16. MOODYS CORP		2012-08-10	2018-08-29
	8. ROSS STORES INC		2018-08-07	2018-08-29
	22. ROSS STORES INC		2015-11-20	2018-08-29
	3. S&P GLOBAL INC		2018-08-07	2018-08-29
	12. S&P GLOBAL INC			2018-08-29
	7. SL GREEN REALTY CORP COM		2018-03-02	2018-08-29
	108. GGP INC		2017-09-07	2018-08-30
	8525.149 FIDELITY ADV INTER REAL E-IS #1855		2018-05-30	2018-09-06
	.75 RIGHTMOVE PLC-UNSP ADR		2018-04-12	2018-09-10
	200.67 FHLMC POOL #G08669 4.000% 9/01/45		2015-11-09	2018-09-15
	281.5 FHLMC POOL #G08641 3.500% 5/01/45		2015-06-08	2018-09-15
	18.9 FHLMC POOL #C09066 3.500% 10/01/44		2014-11-07	2018-09-15
	227.84 FHLMC POOL #G60384 4.500% 12/01/45			2018-09-15
	8. AUTODESK INC		2015-08-27	2018-09-17
	6. AUTODESK INC		2018-06-04	2018-09-17
	102. BROOKFIELD ASSET MANAGE-CL A			2018-09-17
	56. DENTSPLY SIRONA INC			2018-09-17
	12. FOREST CITY REALTY TRUST-A			2018-09-17
	140. FOREST CITY REALTY TRUST-A		2012-08-10	2018-09-17
	32. MOODYS CORP		2012-08-10	2018-09-17
	33. PROGRESSIVE CORP OHIO			2018-09-17
	36. SL GREEN REALTY CORP COM		2018-03-02	2018-09-17
	16. SHERWIN WILLIAMS CO			2018-09-17
	7. SIMON PROPERTY GROUP INC		2017-09-07	2018-09-17
	.608 BROOKFIELD PROPERTY PARTNERS		2018-08-29	2018-09-17
	40. BROOKFIELD PROPERTY PARTNERS		2018-08-29	2018-09-18
	10000. TIME WARNER INC 4.875% 3/15/20			2018-09-27
	207. CISCO SYSTEMS INC		2017-03-21	2018-10-01
	453. MANULIFE FINANCIAL CORP		2017-10-18	2018-10-01
	58. PNC FINANCIAL SERVICES GROUP		2017-10-18	2018-10-01
	43. TJX COMPANIES INC		2016-09-13	2018-10-01
	58. UNION PACIFIC CORP		2017-03-21	2018-10-01
	3000. MASCO CORP 5.950% 3/15/22		2013-01-07	2018-10-03
	38. BROOKFIELD ASSET MANAGE-CL A			2018-10-05
	150. DENTSPLY SIRONA INC			2018-10-05
	34. MOODYS CORP		2012-08-10	2018-10-05
	9. PROGRESSIVE CORP OHIO		2017-03-01	2018-10-05
	14. PROGRESSIVE CORP OHIO			2018-10-05
	55. ROSS STORES INC			2018-10-05
	22. AON PLC		2012-08-10	2018-10-05
	5. ESSEX PPTY TR COM		2018-03-02	2018-10-10
	157. DENTSPLY SIRONA INC			2018-10-11
	22. DENTSPLY SIRONA INC		2018-05-29	2018-10-11
	19. SHERWIN WILLIAMS CO			2018-10-11
	173.64 FHLMC POOL #G08669 4.000% 9/01/45		2015-11-09	2018-10-15
	205.88 FHLMC POOL #G08641 3.500% 5/01/45		2015-06-08	2018-10-15
	12.94 FHLMC POOL #C09066 3.500% 10/01/44		2014-11-07	2018-10-15
	234.05 FHLMC POOL #G60384 4.500% 12/01/45			2018-10-15
	44. REALTY INCOME CORP COM		2018-08-01	2018-10-24
	2000. AMSURG CORP 5.625% 7/15/22		2016-11-21	2018-10-26
	36. SL GREEN REALTY CORP COM		2018-03-02	2018-10-26
	30. MERCK & CO INC NEW		2017-03-21	2018-10-30
	18. PNC FINANCIAL SERVICES GROUP		2017-10-18	2018-10-30
	160. UBS GROUP AG		2018-01-24	2018-10-30
	1. ALEXANDRIA REAL ESTATE EQUITIES		2018-09-17	2018-10-31
	6. AMERICAN HOMES 4 RENT		2018-03-02	2018-10-31
	10. APARTMENT INVT & MGMT CO CL A		2017-09-07	2018-10-31
	3. AVALONBAY CMNTYS INC		2017-09-03	2018-10-31
	3. CORPORATE OFFICE PROPERTIES COM		2017-11-30	2018-10-31
	1. CROWN CASTLE INTL CORP		2017-09-07	2018-10-31
	6. CUBESMART		2018-03-02	2018-10-31
	1. DUKE REALTY CORPORATION		2018-09-17	2018-10-31
	2. EPR PROPERTIES		2017-09-07	2018-10-31
	2. EQUITY LIFESTYLE PPTYS INC		2018-03-02	2018-10-31
	2. EQUITY RESIDENTIAL PPTYS TR SH BEN		2018-03-02	2018-10-31
	1. ESSEX PPTY TR COM		2018-03-02	2018-10-31
	1. EXTENDED STAY AMERICA INC		2018-03-02	2018-10-31
	3. FIRST INDL RLTY TR INC COM		2017-09-07	2018-10-31
	5. HCP INC		2017-09-07	2018-10-31
	4. HEALTHCARE TRUST OF AME-CL A		2018-08-01	2018-10-31
	1. HILTON GRAND VACATIONS INC		2018-03-02	2018-10-31
	1. HILTON WORLDWIDE HOLDINGS IN		2018-03-02	2018-10-31
	4. HUDSON PACIFIC PROPERTIES INC		2018-03-02	2018-10-31
	20. INVITATION HOMES INC		2017-11-26	2018-10-31
	1. KILROY REALTY CORP COM		2017-11-26	2018-10-31
	1. PARTNERS GROUP PRIV EQ TEI LLC (RF)		2010-01-01	2018-10-31
	4. PHYSICIANS REALTY TRUST		2017-09-07	2018-10-31
	4. PROLOGIS INC		2018-08-01	2018-10-31
	2. REGENCY CENTERS CORP		2018-07-23	2018-10-31
	1. SAUL CTRS INC COM		2018-03-02	2018-10-31
	1. SIMON PROPERTY GROUP INC		2017-09-07	2018-10-31
	6. SPIRIT RLTY CAP INC NEW		2018-08-09	2018-10-31
	1. SPIRIT MTA REIT		2018-05-31	2018-10-31
	4. STORE CAPITAL CORP		2018-08-01	2018-10-31
	1. SUN CMNTYS INC COM		2018-09-17	2018-10-31
	14. SUNSTONE HOTEL INVS INC NEW		2018-03-02	2018-10-31
	1. TANGER FACTORY OUTLET CTR		2018-03-02	2018-10-31
	2. TERRENO REALTY CORP		2018-03-02	2018-10-31
	2. VICI PROPERTIES INC		2018-03-02	2018-10-31
	1. VORNADO REALTY TRUST		2018-03-02	2018-10-31
	3. WELLTOWER INC		2018-08-01	2018-10-31
	1. WEYERHAEUSER CO		2018-03-02	2018-10-31
	1. INTERXION HOLDING NV		2018-03-02	2018-10-31
	CAPITAL GAIN DIVIDENDS	P

(e) Gross sales price		(g) Cost or other basis plus expense of sale	(h) Gain or (loss) (e) plus (f) minus (g)
a	3,141	3,131	10
b	351	373	-22
c	363	374	-11
d	27	28	-1
e	222	242	-20
	1,061	971	90
	3,970	5,867	-1,897
	1,438	614	824
	405	343	62
	328	136	192
	369	354	15
	1,178	622	556
	363	328	35
	164	157	7
	1,117	965	152
	26,247	21,421	4,826
	1,942	2,672	-730
	1,456	614	842
	383	321	62
	575	238	337
	1,462	765	697
	115,496	141,261	-25,765
	39,681	50,235	-10,554
	11	10	1
	3,248	3,225	23
	25,117	26,232	-1,115
	3,092	3,135	-43
	3,099	3,188	-89
	344	344
	1,589	1,181	408
	1,367	855	512
	1,424	929	495
	237	213	24
	72	60	12
	28	24	4
	3,109	3,078	31
	279	296	-17
	300	310	-10
	26	27	-1
	290	315	-25
	6	5	1
	16	12	4
	4,744	4,544	200
	3,068	2,978	90
	1,926	956	970
	1,548	1,334	214
	222	236	-14
	277	286	-9
	21	22	-1
	399	434	-35
	2,000	2,050	-50
	5,154	5,500	-346
	3,522	2,980	542
	21,401	17,215	4,186
	8,723	6,769	1,954
	3,304	3,118	186
	8,587	3,182	5,405
	1,988	1,937	51
	737	621	116
	1,095	889	206
	1,202	398	804
	555	443	112
	1,559	717	842
	1,453	601	852
	559	430	129
	2,731	1,579	1,152
	2,910	3,045	-135
	3,502	3,566	-64
	2,944	2,550	394
	253	268	-15
	250	258	-8
	20	21	-1
	157	171	-14
	10,000	10,525	-525
	897	771	126
	1,050	849	201
	2,348	1,362	986
	30,000	26,825	3,175
	1,113	1,165	-52
	16,147	20,697	-4,550
	10,183	13,173	-2,990
	27,775	30,412	-2,637
	8,130	9,739	-1,609
	3,423	3,618	-195
	8,575	8,640	-65
	27,989	35,770	-7,781
	7,699	10,128	-2,429
	27,741	28,890	-1,149
	11,475	14,113	-2,638
	6,436	8,418	-1,982
	15,055	14,817	238
	9,028	10,223	-1,195
	18,971	19,853	-882
	6,907	9,600	-2,693
	9,844	9,925	-81
	8,749	11,569	-2,820
	11,029	11,896	-867
	26,885	33,386	-6,501
	15,749	17,559	-1,810
	10,902	11,891	-989
	11,543	13,179	-1,636
	14,847	16,204	-1,357
	16,289	17,283	-994
	12,392	16,939	-4,547
	7,278	7,107	171
	2,635	2,672	-37
	2,172	2,157	15
	5,450	5,730	-280
	6,549	7,810	-1,261
	11,566	13,692	-2,126
	3,786	3,742	44
	8,406	6,451	1,955
	3,161	2,814	347
	1,319	1,688	-369
	3,035	2,999	36
	3,352	3,293	59
	2,918	2,862	56
	1,247	1,271	-24
	5,371	5,283	88
	3,137	3,962	-825
	7,048	8,388	-1,340
	9,397	11,184	-1,787
	3,377	3,340	37
	2,501	2,449	52
	11,955	11,548	407
	1,563	1,626	-63
	6,128	5,804	324
	1,971	2,128	-157
	1,325	1,325
	2,008	2,717	-709
	2,365	2,311	54
	1,711	1,691	20
	6,399	6,384	15
	1,525	1,513	12
	3,833	3,780	53
	3,090	3,271	-181
	7,736	7,894	-158
	3,434	3,419	15
	2,679	2,945	-266
	1,350	1,703	-353
	1,785	2,252	-467
	11,522	11,949	-427
	4,768	5,144	-376
	6,590	6,556	34
	5,276	5,141	135
	983	994	-11
	16,086	16,457	-371
	1,735	1,772	-37
	2,364	2,362	2
	6,253	6,105	148
	5,490	5,463	27
	3,971	3,959	12
	2,088	2,061	27
	1,752	1,719	33
	9,037	4,587	4,450
	549	543	6
	2,027	1,980	47
	6,482	6,443	39
	2,812	2,822	-10
	5,509	5,437	72
	12,336	8,245	4,091
	15,337	16,499	-1,162
	178	188	-10
	222	229	-7
	16	17	-1
	181	197	-16
	3,035	3,049	-14
	41	30	11
	1,801	869	932
	2,143	1,714	429
	514	404	110
	3,033	1,377	1,656
	1,056	905	151
	952	557	395
	278	197	81
	1,152	859	293
	2,547	836	1,711
	1,674	1,258	416
	873	826	47
	2,889	2,425	464
	1,947	1,839	108
	22,558	20,268	2,290
	10,835	11,937	-1,102
	208	225	-17
	3,014	2,803	211
	3,000	3,000
	224	238	-14
	252	260	-8
	17	17
	179	194	-15
	953	696	257
	2,954	2,344	610
	1,105	2,366	-1,261
	149,971	146,340	3,631
	711	622	89
	10,351	7,245	3,106
	275	288	-13
	689	721	-32
	2,914	2,683	231
	1,248	1,260	-12
	1,049	1,067	-18
	1,210	1,178	32
	914	785	129
	9,782	10,643	-861
	9,782	10,361	-579
	18,241	19,617	-1,376
	9,629	10,328	-699
	7,392	7,887	-495
	4,301	2,553	1,748
	1,038	1,075	-37
	1,036	1,063	-27
	5,852	4,763	1,089
	2,066	1,173	893
	2,515	744	1,771
	4,655	1,413	3,242
	4,299	3,354	945
	2,415	972	1,443
	3,899	8,091	-4,192
	3,153	2,289	864
	20,000	21,780	-1,780
	180	191	-11
	272	280	-8
	18	19	-1
	306	333	-27
	809	709	100
	1,284	1,121	163
	25,972	28,436	-2,464
	100,000	89,249	10,751
	1,476	1,667	-191
	1,546	1,391	155
	3,903	2,948	955
	1,469	1,722	-253
	1,562	1,503	59
	2,139	1,907	232
	2,135	1,058	1,077
	1,745	1,329	416
	2,284	2,838	-554
	2,798	2,207	591
	2,847	2,993	-146
	1,494	1,712	-218
	1,879	1,763	116
	1,534	1,677	-143
	1,466	1,258	208
	1,556	1,843	-287
	2,037	1,617	420
	1,671	1,308	363
	446	393	53
	2,037	1,459	578
	1,571	1,629	-58
	2,143	2,307	-164
	1,537	1,654	-117
	5,834	3,867	1,967
	2,432	1,869	563
	2,688	2,431	257
	2,032	2,303	-271
	2,844	3,067	-223
	1,561	1,432	129
	1,428	1,072	356
	2,831	2,459	372
	2,391	1,956	435
	1,563	1,140	423
	2,181	2,253	-72
	2,437	1,677	760
	1,592	1,047	545
	1,728	1,724	4
	2,071	1,927	144
	15,293	16,757	-1,464
	9,636	10,113	-477
	8,159	8,205	-46
	11,231	11,776	-545
	4,818	4,985	-167
	7	8	-1
	2,101	1,514	587
	6,693	6,993	-300
	14,705	15,849	-1,144
	1,450	434	1,016
	4,998	5,144	-146
	9,584	10,585	-1,001
	4,925	1,472	3,453
	3,341	2,216	1,125
	4,891	5,004	-113
	9,640	10,517	-877
	10,334	11,196	-862
	9,764	10,349	-585
	5,159	5,346	-187
	5,159	5,540	-381
	4,920	4,912	8
	14,740	15,613	-873
	15,119	16,007	-888
	9,563	10,008	-445
	4,866	4,958	-92
	9,732	10,088	-356
	10,023	10,607	-584
	10,142	10,140	2
	4,651	4,881	-230
	9,815	10,361	-546
	4,857	4,984	-127
	4,786	4,966	-180
	4,786	4,966	-180
	3,551	2,279	1,272
	169,752	150,000	19,752
	10,288	11,196	-908
	236	250	-14
	297	306	-9
	17	17
	158	172	-14
	10,793	11,237	-444
	802	932	-130
	401	466	-65
	927	888	39
	2,086	2,536	-450
	828	820	8
	1,321	1,289	32
	1,571	1,418	153
	768	694	74
	8,440	6,407	2,033
	435	473	-38
	1,393	649	744
	139	143	-4
	2,588	744	1,844
	431	409	22
	2,478	707	1,771
	207	197	10
	928	768	160
	49	48	1
	4,528	2,949	1,579
	1,784	1,810	-26
	3,051	3,188	-137
	61		61
	175		175
	20,207	21,562	-1,355
	2,037	2,019	18
	5,132	5,356	-224
	5,500	5,961	-461
	10,553	11,180	-627
	3,000	3,525	-525
	208	221	-13
	281	290	-9
	17	18	-1
	264	287	-23
	2,290	2,409	-119
	2,314	2,063	251
	11,320	12,281	-961
	7,951	8,614	-663
	10	10
	2,385	2,452	-67
	1,554	1,497	57
	2,126	2,145	-19
	1,020	966	54
	11,758	8,562	3,196
	8,595	5,156	3,439
	4,779	5,004	-225
	1,260	1,065	195
	4,870	4,575	295
	974	974
	2,141	974	1,167
	3,277	929	2,348
	3,707	1,001	2,706
	968	741	227
	2,111	1,483	628
	2,125	910	1,215
	1,488	1,373	115
	2,219	1,293	926
	1,000	985	15
	11,659	11,933	-274
	4,081	5,165	-1,084
	33,615	18,597	15,018
	764	780	-16
	3,566	1,384	2,182
	254	260	-6
	1,929	2,272	-343
	4,009	3,375	634
	2,470	744	1,726
	1,001	975	26
	2,568	589	1,979
	2,055	2,039	16
	1,075	1,072	3
	5,359	3,252	2,107
	3,170	1,457	1,713
	1,120	1,136	-16
	2,136	1,247	889
	48	54	-6
	11,251	11,244	7
	2,865	3,903	-1,038
	1,508	1,558	-50
	478	450	28
	739	702	37
	140,000	144,080	-4,080
	206	218	-12
	245	253	-8
	22	23	-1
	205	223	-18
	3,000	3,113	-113
	997	968	29
	1,661	1,434	227
	1,370	314	1,056
	1,028	1,041	-13
	2,673	1,685	988
	1,782	1,724	58
	5,317	4,008	1,309
	1,772	1,668	104
	1,434	516	918
	1,004	1,006	-2
	40	39	1
	2,693	2,214	479
	444,558	415,000	29,558
	32,242	35,000	-2,758
	2,818	629	2,189
	767	726	41
	2,109	1,097	1,012
	614	608	6
	2,457	1,079	1,378
	728	679	49
	34	2,308	-2,274
	97,869	100,000	-2,131
	10	10
	201	213	-12
	282	290	-8
	19	20	-1
	228	248	-20
	1,177	395	782
	883	830	53
	4,341	4,243	98
	2,132	3,583	-1,451
	301	270	31
	3,511	2,072	1,439
	5,666	1,257	4,409
	2,261	2,054	207
	3,635	3,492	143
	7,505	4,922	2,583
	1,278	1,127	151
	12	12
	808	810	-2
	10,283	10,896	-613
	10,136	7,028	3,108
	8,127	9,416	-1,289
	7,905	7,833	72
	4,846	3,202	1,644
	9,527	6,012	3,515
	3,195	3,326	-131
	1,659	1,539	120
	5,412	9,432	-4,020
	5,491	1,336	4,155
	637	358	279
	990	864	126
	5,216	2,599	2,617
	3,453	1,136	2,317
	1,247	1,110	137
	5,624	9,712	-4,088
	788	1,001	-213
	7,879	5,314	2,565
	174	184	-10
	206	212	-6
	13	13
	234	255	-21
	2,583	2,444	139
	2,056	2,030	26
	3,304	3,492	-188
	2,159	1,919	240
	2,209	2,431	-222
	2,177	3,306	-1,129
	123	128	-5
	127	117	10
	433	459	-26
	530	550	-20
	77	91	-14
	108	107	1
	176	162	14
	27	29	-2
	137	141	-4
	192	167	25
	131	111	20
	252	222	30
	16	20	-4
	93	94	-1
	135	151	-16
	105	109	-4
	27	45	-18
	70	79	-9
	121	126	-5
	439	465	-26
	70	74	-4
		84,261	-84,261
	66	76	-10
	260	262	-2
	128	123	5
	52	50	2
	185	161	24
	47	51	-4
	11	9	2
	116	109	7
	101	103	-2
	201	202	-1
	23	23
	75	67	8
	43	39	4
	68	66	2
	202	187	15
	26	34	-8
	58	56	2
			45,966

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			10
b			-22
c			-11
d			-1
e			-20
			90
			-1,897
			824
			62
			192
			15
			556
			35
			7
			152
			4,826
			-730
			842
			62
			337
			697
			-25,765
			-10,554
			1
			23
			-1,115
			-43
			-89

			408
			512
			495
			24
			12
			4
			31
			-17
			-10
			-1
			-25
			1
			4
			200
			90
			970
			214
			-14
			-9
			-1
			-35
			-50
			-346
			542
			4,186
			1,954
			186
			5,405
			51
			116
			206
			804
			112
			842
			852
			129
			1,152
			-135
			-64
			394
			-15
			-8
			-1
			-14
			-525
			126
			201
			986
			3,175
			-52
			-4,550
			-2,990
			-2,637
			-1,609
			-195
			-65
			-7,781
			-2,429
			-1,149
			-2,638
			-1,982
			238
			-1,195
			-882
			-2,693
			-81
			-2,820
			-867
			-6,501
			-1,810
			-989
			-1,636
			-1,357
			-994
			-4,547
			171
			-37
			15
			-280
			-1,261
			-2,126
			44
			1,955
			347
			-369
			36
			59
			56
			-24
			88
			-825
			-1,340
			-1,787
			37
			52
			407
			-63
			324
			-157

			-709
			54
			20
			15
			12
			53
			-181
			-158
			15
			-266
			-353
			-467
			-427
			-376
			34
			135
			-11
			-371
			-37
			2
			148
			27
			12
			27
			33
			4,450
			6
			47
			39
			-10
			72
			4,091
			-1,162
			-10
			-7
			-1
			-16
			-14
			11
			932
			429
			110
			1,656
			151
			395
			81
			293
			1,711
			416
			47
			464
			108
			2,290
			-1,102
			-17
			211

			-14
			-8

			-15
			257
			610
			-1,261
			3,631
			89
			3,106
			-13
			-32
			231
			-12
			-18
			32
			129
			-861
			-579
			-1,376
			-699
			-495
			1,748
			-37
			-27
			1,089
			893
			1,771
			3,242
			945
			1,443
			-4,192
			864
			-1,780
			-11
			-8
			-1
			-27
			100
			163
			-2,464
			10,751
			-191
			155
			955
			-253
			59
			232
			1,077
			416
			-554
			591
			-146
			-218
			116
			-143
			208
			-287
			420
			363
			53
			578
			-58
			-164
			-117
			1,967
			563
			257
			-271
			-223
			129
			356
			372
			435
			423
			-72
			760
			545
			4
			144
			-1,464
			-477
			-46
			-545
			-167
			-1
			587
			-300
			-1,144
			1,016
			-146
			-1,001
			3,453
			1,125
			-113
			-877
			-862
			-585
			-187
			-381
			8
			-873
			-888
			-445
			-92
			-356
			-584
			2
			-230
			-546
			-127
			-180
			-180
			1,272
			19,752
			-908
			-14
			-9

			-14
			-444
			-130
			-65
			39
			-450
			8
			32
			153
			74
			2,033
			-38
			744
			-4
			1,844
			22
			1,771
			10
			160
			1
			1,579
			-26
			-137
			61
			175
			-1,355
			18
			-224
			-461
			-627
			-525
			-13
			-9
			-1
			-23
			-119
			251
			-961
			-663

			-67
			57
			-19
			54
			3,196
			3,439
			-225
			195
			295

			1,167
			2,348
			2,706
			227
			628
			1,215
			115
			926
			15
			-274
			-1,084
			15,018
			-16
			2,182
			-6
			-343
			634
			1,726
			26
			1,979
			16
			3
			2,107
			1,713
			-16
			889
			-6
			7
			-1,038
			-50
			28
			37
			-4,080
			-12
			-8
			-1
			-18
			-113
			29
			227
			1,056
			-13
			988
			58
			1,309
			104
			918
			-2
			1
			479
			29,558
			-2,758
			2,189
			41
			1,012
			6
			1,378
			49
			-2,274
			-2,131

			-12
			-8
			-1
			-20
			782
			53
			98
			-1,451
			31
			1,439
			4,409
			207
			143
			2,583
			151

			-2
			-613
			3,108
			-1,289
			72
			1,644
			3,515
			-131
			120
			-4,020
			4,155
			279
			126
			2,617
			2,317
			137
			-4,088
			-213
			2,565
			-10
			-6

			-21
			139
			26
			-188
			240
			-222
			-1,129
			-5
			10
			-26
			-20
			-14
			1
			14
			-2
			-4
			25
			20
			30
			-4
			-1
			-16
			-4
			-18
			-9
			-5
			-26
			-4
			-84,261
			-10
			-2
			5
			2
			24
			-4
			2
			7
			-2
			-1

			8
			4
			2
			15
			-8
			2

2	Capital gain net income or (net capital loss)	If gain, also enter in Part I, line 7 If (loss), enter -0- in Part I, line 7	2	40,575
3	Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
	If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0- in Part I, line 8 ...................		3

Part V

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

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

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

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

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

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

(a) Base period years Calendar year (or tax year beginning in)	(b) Adjusted qualifying distributions	(c) Net value of noncharitable-use assets	(d) Distribution ratio (col. (b) divided by col. (c))
2018	437,133	9,695,493	0.045086
2017	422,821	9,240,193	0.045759
2016	420,081	9,929,702	0.042305
2015	420,950	10,020,778	0.042008
2014	410,246	9,588,793	0.042784

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

0.217942

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

0.043588

Enter the net value of noncharitable-use assets for 2019 from Part X, line 5......

10,416,051

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

454,015

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

1,839

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

455,854

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

440,634

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 (2019)

Page 4

Part VI

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

1a	Exempt operating foundations described in section 4940(d)(2), check here and enter “N/A" on line 1.
	Date of ruling or determination letter: (attach copy of letter if necessary–see instructions)
b	Domestic foundations that meet the section 4940(e) requirements in Part V, check	1	3,678
	hereand enter 1% of Part I, line 27b...................
c	All other domestic foundations enter 2% of line 27b. Exempt foreign organizations enter 4% of Part I, line 12, col. (b)
2	Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-)	2	0
3	Add lines 1 and 2...........................	3	3,678
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	3,678
6	Credits/Payments:

a	2019 estimated tax payments and 2018 overpayment credited to 2019	6a	4,733
b	Exempt foreign organizations—tax withheld at source......	6b
c	Tax paid with application for extension of time to file (Form 8868)...	6c	0
d	Backup withholding erroneously withheld ...........	6d

7	Total credits and payments. Add lines 6a through 6d..............		7	4,733
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	1,055
11	Enter the amount of line 10 to be: Credited to 2020 estimated tax920	Refunded	11	135

Part VII-A

Statements Regarding Activities

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

Yes

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

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

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

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

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

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

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

(1) On the foundation. bullet

$ (2) On foundation managers. bullet

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

on foundation managers. bullet

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

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

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

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

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

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

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

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

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

By language in the governing instrument, or

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

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

Yes

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

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

Yes

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

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

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

Yes

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

or 4942(j)(5) for calendar year 2019 or the taxable year beginning in 2019? See the instructions for Part XIV.

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

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

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

Form 990-PF (2019)

Page 5

Part VII-A

Statements Regarding Activities (continued)

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

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

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

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

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

Yes

Website address bullet

N/A

The books are in care of bullet

WELLS FARGO BANK NA Telephone no. bullet

(888) 730-4933

Located at bullet

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

27101

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

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

16 At any time during calendar year 2019, did the foundation have an interest in or a signature or other authority over YesNo

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

16 No

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

Part VII-B

Statements Regarding Activities for Which Form 4720 May Be Required

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

Yes

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

that were not corrected before the first day of the tax year beginning in 2019?.............

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

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

At the end of tax year 2019, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2019?.............YesNo

If "Yes," list the years bullet

20, 20, 20, 20

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

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

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

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

20, 20, 20, 20

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

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

If "Yes," did it have excess business holdings in 2019 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 2019.)..................

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

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

charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2019?

Form 990-PF (2019)

Page 6

Part VII-B

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

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

Yes

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Part VIII

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

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

(a) Name and address	(b) Title, and average hours per week devoted to position	(c) Compensation (If not paid, enter -0-)
Wells Fargo Bank NA	Trustee 1	101,951
100 N Main St MAC D4001-117 Winston Salem,NC27101	Trustee 1	101,951
MR LON RICE	Co-Trustee 1	18,008
PO BOX 727 WINDER,GA30680	Co-Trustee 1	18,008

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


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









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

Form 990-PF (2019)

Page 7

Part VIII

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

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

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

Part IX-A

Summary of Direct Charitable Activities

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


2


3


4

Part IX-B

Summary of Program-Related Investments (see instructions)

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


2


All other program-related investments. See instructions.
3

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

Form 990-PF (2019)

Page 8

Part X

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

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

purposes:

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

10,171,093

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

403,578

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

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

10,574,671

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

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

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

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

10,574,671

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

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

158,620

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

10,416,051

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

520,803

Part XI

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

and do not complete this part.)

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

520,803

Tax on investment income for 2019 from Part VI, line 5......

3,678

Income tax for 2019. (This does not include the tax from Part VI.)...

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

3,678

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

517,125

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

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

517,125

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

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

517,125

Part XII

Qualifying Distributions (see instructions)

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

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

440,634

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

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

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

Amounts set aside for specific charitable projects that satisfy the:

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

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

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

440,634

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

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

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

440,634

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 (2019)

Page 9

Part XIII

Undistributed Income (see instructions)

		(a) Corpus	(b) Years prior to 2018	(c) 2018	(d) 2019
1 Distributable amount for 2019 from Part XI, line 7					517,125
2 Undistributed income, if any, as of the end of 2019:
a Enter amount for 2018 only.......				386,656
b Total for prior years:20, 20, 20			0
3 Excess distributions carryover, if any, to 2019:
a From 2014......	0
b From 2015......	0
c From 2016......	0
d From 2017......	0
e From 2018......	0
fTotal of lines 3a through e........		0
4Qualifying distributions for 2019 from Part
XII, line 4: $ 440,634
a Applied to 2018, but not more than line 2a				386,656
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 2019 distributable amount.....					53,978
e Remaining amount distributed out of corpus		0
5 Excess distributions carryover applied to 2019.		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 2018. Subtract line 4a from line 2a. Taxable amount—see instructions .............				0
f Undistributed income for 2019. Subtract lines 4d and 5 from line 1. This amount must be distributed in 2020 ..........					463,147
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 2014 not applied on line 5 or line 7 (see instructions) ...		0
9Excess distributions carryover to 2020. Subtract lines 7 and 8 from line 6a ......		0
10 Analysis of line 9:
a Excess from 2015....	0
b Excess from 2016....	0
c Excess from 2017....	0
d Excess from 2018....	0
e Excess from 2019....	0

Form 990-PF (2019)

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 2019, enter the date of the ruling....... bullet

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

2a Enter the lesser of the adjusted net income from Part I or the minimum investment return from Part X for each year listed ..........	Tax year	Prior 3 years			(e) Total
	(a) 2019	(b) 2018	(c) 2017	(d) 2016	(e) Total

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

Part XV

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

1Information Regarding Foundation Managers:

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

NONE

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

NONE

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

Check here bullet

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

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

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

cAny submission deadlines:

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

Form 990-PF (2019)

Page 11

Part XV

Supplementary Information (continued)

3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient	If recipient is an individual, show any relationship to any foundation manager or substantial contributor	Foundation status of recipient	Purpose of grant or contribution	Amount
Name and address (home or business)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
EMORY UNIVERSITY 1599 CLIFTON ROAD 3RD FLOOR ATLANTA,GA30322	NONE	PC	GENERAL OPERATING	396,000
Total ................................. 3a				396,000

bApproved for future payment

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

Form 990-PF (2019)

Page 12

Part XVI-A

Analysis of Income-Producing Activities

Enter gross amounts unless otherwise indicated.	Unrelated business income		Excluded by section 512, 513, or 514		(e) Related or exempt function income (See instructions.)
1Program service revenue:	(a) Business code	(b) Amount	(c) Exclusion code	(d) Amount	(e) Related or exempt function income (See instructions.)
a
b
c
d
e
f
gFees and contracts from government agencies
2 Membership dues and assessments....
3 Interest on savings and temporary cash investments ...........
4 Dividends and interest from securities....			14	220,990
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	40,575
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aOTHER INCOME			1	3,916
bFEDERAL TAX REFUND			1	2,978
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				268,459

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

268,459

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

Part XVI-B

Relationship of Activities to the Accomplishment of Exempt Purposes

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

Form 990-PF (2019)

Page 13

Part XVII

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

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

Yes

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

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

1a(1)

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

1a(2)

Other transactions:

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

1b(1)

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

1b(2)

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

1b(3)

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

1b(4)

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

1b(5)

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

1b(6)

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

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

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

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

If "Yes," complete the following schedule.

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

Sign Here

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

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

Form 990-PF (2019)

Additional Data

Software ID:
Software Version:

Form 990PF - Special Condition Description:

Special Condition Description

Category	Amount	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
TAX PREPARATION FEE (NON-ALLOC	1,138			1,138

- TIN:

TY 2017 InvestmentsOtherSchedule2

Name:

TW LUCY C HARRIS EU

EIN:

58-6163830

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
40171V100 GUIDEWIRE SOFTWARE I	AT COST	10,061	9,075
192446102 COGNIZANT TECH SOLUT	AT COST	34,949	38,105
437076102 HOME DEPOT INC	AT COST	18,672	21,457
26875P101 EOG RESOURCES, INC	AT COST	17,932	18,013
91324P102 UNITEDHEALTH GROUP I	AT COST	32,273	48,872
150870103 CELANESE CORP	AT COST	31,376	32,378
172967424 CITIGROUP INC	AT COST	25,091	28,017
98978V103 ZOETIS INC	AT COST	16,105	24,701
172967LQ2 CITIGROUP INC	AT COST	14,957	14,358
31335AM96 FHLMC POOL #G60384	AT COST	12,041	11,348
20854PAL3 CONSOL ENERGY INC 5.	AT COST	1,943	2,946
74022DAJ9 PRECISION DRILLING	AT COST	2,828	2,783
962178AN9 TRI POINTE HOLDINGS	AT COST	3,053	2,801
05278C107 AUTOHOME INC-ADR	AT COST	37,353	48,712
804395101 SAUL CTRS INC COM	AT COST	1,839	1,767
962166104 WEYERHAEUSER CO	AT COST	3,820	2,956
862121100 STORE CAPITAL CORP	AT COST	11,218	13,093
74340W103 PROLOGIS INC	AT COST	30,478	31,590
05567LT31 BNP PARIBAS 5.000% 1	AT COST	15,742	15,477
912828QN3 U S TREASURY NT 3.12	AT COST	15,210	15,078
260543CF8 DOW CHEMICAL CO/THE	AT COST	10,955	10,151
406216BD2 HALLIBURTON COMPANY	AT COST	15,433	14,765
526057BT0 LENNAR CORP	AT COST	3,078	3,008
15135BAD3 CENTENE CORP	AT COST	3,075	3,004
00101JAK2 ADT CORP 6.250% 10/1	AT COST	3,293	3,090
86614RAG2 SUMMIT MATERIALS LLC	AT COST	3,075	2,903
459745GF6 INTL LEASE FINANCE 8	AT COST	3,585	3,254
85571BAG0 STARWOOD PROPERTY TR	AT COST	3,139	2,985
25271CAP7 DIAMOND OFFSHORE DRI	AT COST	2,120	1,970
02406PAL4 AMERICAN AXLE & MFG	AT COST	1,039	1,015
25470XAJ4 DISH DBS CORP 5.875%	AT COST	2,903	2,835
513075BE0 LAMAR MEDIA CORP 5.0	AT COST	3,010	2,994
12527GAC7 CF INDUSTRIES INC 3.	AT COST	2,981	2,843
92927K102 WABCO HOLDINGS INC	AT COST	36,337	28,689
12514G108 CDW CORP/DE	AT COST	30,341	44,555
015271109 ALEXANDRIA REAL ESTA	AT COST	18,282	18,335
03748R101 APARTMENT INVT & MGM	AT COST	14,022	13,385
264411505 DUKE REALTY CORPORAT	AT COST	5,902	6,534
29476L107 EQUITY RESIDENTIAL P	AT COST	4,231	4,937
297178105 ESSEX PPTY TR COM	AT COST	17,766	20,062
49427F108 KILROY REALTY CORP C	AT COST	9,242	9,230
758849103 REGENCY CENTERS CORP	AT COST	13,728	14,700
867892101 SUNSTONE HOTEL INVS	AT COST	6,896	6,931
62943WAB5 NRG YIELD OPERATING	AT COST	3,083	2,968
00766TAD2 AECOM	AT COST	2,175	2,035
989194AM7 ZAYO GROUP LLC/ZAYO	AT COST	3,098	3,060
03674XAF3 ANTERO RESOURCES COR	AT COST	2,055	2,000
911365BE3 UNITED RENTALS NORTH	AT COST	3,278	2,940
02005NAE0 ALLY FINANCIAL INC	AT COST	3,543	3,158
095370AD4 BLUE CUBE SPINCO IN	AT COST	3,604	3,398
87264AAT2 T-MOBILE USA INC	AT COST	3,221	2,933
00164VAE3 AMC NETWORKS INC	AT COST	2,013	1,859
404121AE5 HCA INC 5.875% 3/15/	AT COST	2,088	2,093
38869PAK0 GRAPHIC PACKAGING IN	AT COST	2,963	3,000
893830AT6 TRANSOCEAN INC 6.800	AT COST	3,320	3,215
052769106 AUTODESK INC COM	AT COST	7,893	21,585
217204106 COPART INC COM	AT COST	33,954	59,670
595017104 MICROCHIP TECHNOLOGY	AT COST	9,359	13,682
608190104 MOHAWK INDS INC COM	AT COST	5,281	7,858
12508E101 CDK GLOBAL INC	AT COST	6,747	6,983
48251W104 KKR & CO INC -A	AT COST	14,931	13,433
78410G104 SBA COMMUNICATIONS C	AT COST	29,273	44,759
112585104 BROOKFIELD ASSET MAN	AT COST	31,263	49,145
12504L109 CBRE GROUP INC	AT COST	11,373	18,574
G5480U120 LIBERTY GLOBAL PLC-S	AT COST	8,349	8,063
594918104 MICROSOFT CORP	AT COST	43,117	83,739
87612E106 TARGET CORP	AT COST	13,154	19,653
58933Y105 MERCK & CO INC NEW	AT COST	24,361	29,444
31292SCB4 FHLMC POOL #C09066 3	AT COST	1,422	1,343
912828XQ8 US TREASURY NOTE	AT COST	14,953	14,489
912828M56 US TREASURY NOTE	AT COST	14,765	14,208
46625HHS2 JPMORGAN CHASE & CO	AT COST	11,969	11,184
912828NT3 US TREASURY NOTE 2.6	AT COST	21,074	19,912
009158106 AIR PRODUCTS AND CHE	AT COST	11,810	16,670
55261F104 M & T BANK CORPORATI	AT COST	3,510	7,278
36164V305 GCI LIBERTY INC	AT COST	4,023	8,046
531229607 LIBERTY SIRIUSXM GRO	AT COST	4,173	8,914
165167CZ8 CHESAPEAKE ENERGY CO	AT COST	2,020	1,988
526057BV5 LENNAR CORP	AT COST	2,940	2,858
31620R303 FNF GROUP	AT COST	16,461	21,241
29444U700 EQUINIX INC	AT COST	42,839	39,010
256677105 DOLLAR GENERAL CORP	AT COST	9,169	14,034
489398107 KENNEDY-WILSON HOLDI	AT COST	9,432	8,579
620076307 MOTOROLA SOLUTIONS,	AT COST	2,698	6,251
43300A203 HILTON WORLDWIDE HOL	AT COST	30,952	28,183
09215C105 BLACK KNIGHT INC	AT COST	17,146	21,069
40416M105 HD SUPPLY HOLDINGS I	AT COST	1,871	1,691
194014106 COLFAX CORPORATION	AT COST	17,519	12,754
532457108 ELI LILLY & CO COM	AT COST	20,900	26,785
806857108 SCHLUMBERGER LTD	AT COST	39,061	27,040
H42097107 UBS GROUP AG	AT COST	32,729	22,963
912828WJ5 US TREASURY NOTE 2.5	AT COST	20,358	19,467
9128284F4 US TREASURY NOTE	AT COST	9,830	9,747
912828KQ2 US TREASURY NOTE 3.1	AT COST	37,177	35,111
912828N30 US TREASURY NOTE	AT COST	29,749	28,997
879369AF3 TELEFLEX INC	AT COST	3,064	2,798
573284106 MARTIN MARIETTA MATL	AT COST	17,653	17,984
530307305 LIBERTY BROADBAND CO	AT COST	3,338	7,795
76131D103 RESTAURANT BRANDS IN	AT COST	24,844	30,890
82509L107 SHOPIFY INC - A W/I	AT COST	2,312	2,072
531229854 LIBERTY MEDIA GROUP	AT COST	11,285	12,769
67103H107 O'REILLY AUTOMOTIVE	AT COST	18,060	41,056
53046P109 LIBERTY EXPEDIA HOLD	AT COST	2,679	4,906
G0408V102 AON PLC	AT COST	5,887	17,805
M98068105 WIX.COM LTD	AT COST	8,645	8,275
126650100 CVS/CAREMARK CORPORA	AT COST	35,774	36,919
654106103 NIKE INC CL B	AT COST	27,071	38,721
771195104 ROCHE HOLDINGS LTD -	AT COST	28,754	27,840
405217100 HAIN CELESTIAL GROUP	AT COST	15,074	10,176
084670702 BERSHIRE HATHAWAY IN	AT COST	19,268	22,581
517834107 LAS VEGAS SANDS CORP	AT COST	32,854	27,250
06367T7H7 BANK OF MONTREAL	AT COST	9,995	9,987
961214DW0 WESTPAC BANKING CORP	AT COST	9,931	9,460
3135G0ZR7 FED NATL MTG ASSN 2.	AT COST	31,202	29,134
9128284T4 US TREASURY NOTE	AT COST	14,995	14,889
14040HBP9 CAPITAL ONE FINANCIA	AT COST	9,869	9,859
86562MAQ3 SUMITOMO MITSUI FINL	AT COST	14,473	14,499
742718DY2 PROCTER & GAMBLE CO/	AT COST	20,398	19,456
913017BV0 UNITED TECHNOLOGIES	AT COST	15,995	14,707
037833AK6 APPLE INC 2.400% 5/0	AT COST	15,073	14,316
451102AX5 ICAHN ENTERPRISES/FI	AT COST	3,180	3,026
489399AG0 KENNEDY-WILSON INC	AT COST	3,135	2,880
52729NBX7 LEVEL 3 COMMUNICATIO	AT COST	3,086	2,992
45168D104 IDEXX CORP	AT COST	3,825	3,394
92343E102 VERISIGN INC	AT COST	8,429	22,521
422806208 HEICO CORP CL A	AT COST	2,246	2,266
03662Q105 ANSYS INC	AT COST	18,309	15,703
023586100 AMERCO	AT COST	6,047	5,224
000843201 ACAP STRATEGIC FUND-	AT COST	175,000	159,591
BIT990000 BLACKSTONE REAL ESTA	AT COST	200,000	203,167
00770G847 JOHCM INTERNATIONAL	AT COST	449,158	503,863
N47279109 INTERXION HOLDING NV	AT COST	6,894	7,241
43283X105 HILTON GRAND VACATIO	AT COST	5,918	3,977
229663109 CUBESMART	AT COST	5,884	6,318
74144Q203 T ROWE PRICE INST EM	AT COST	745,000	809,508
77954Q403 T ROWE PRICE BLUE CH	AT COST	1,060,926	1,459,463
858119AZ3 STEEL DYNAMICS INC 5	AT COST	1,930	2,005
038336103 APTARGROUP INC	AT COST	9,597	11,929
303075105 FACTSET RESH SYS INC	AT COST	16,994	23,942
76657Y101 RIGHTMOVE PLC-UNSP A	AT COST	31,975	32,183
73278L105 POOL CORPORATION	AT COST	20,055	25,944
78388JAV8 SBA COMMUNICATIONS	AT COST	1,985	1,930
779382AP5 ROWAN COMPANIES INC	AT COST	5,738	5,745
268648AN2 EMC CORP 3.375% 6/01	AT COST	2,903	2,792
426281101 HENRY JACK & ASSOC I	AT COST	14,374	20,227
562750109 MANHATTAN ASSOCIATES	AT COST	7,740	8,593
75524B104 RBC BEARINGS INC	AT COST	16,019	22,300
40418F108 HFF INC	AT COST	22,656	22,491
101121101 BOSTON PROPERTIES IN	AT COST	7,534	7,487
311900104 FASTENAL CO	AT COST	4,592	5,552
570535104 MARKEL HOLDINGS	AT COST	18,251	37,170
776696106 ROPER INDS INC NEW C	AT COST	13,785	24,047
91879Q109 VAIL RESORTS INC COM	AT COST	13,944	12,315
G0450A105 ARCH CAPITAL GROUP L	AT COST	13,434	16,625
78409V104 S&P GLOBAL INC	AT COST	8,737	18,597
G47567105 IHS MARKIT LTD	AT COST	16,684	21,485
893641100 TRANSDIGM GROUP INC	AT COST	28,825	43,263
55354G100 MSCI INC	AT COST	3,955	6,767
278768106 ECHOSTAR CORPORATION	AT COST	1,163	1,581
254687106 WALT DISNEY CO	AT COST	30,036	32,612
375558103 GILEAD SCIENCES INC	AT COST	16,258	18,750
512807108 LAM RESEARCH CORP CO	AT COST	22,754	18,992
693475105 PNC FINANCIAL SERVIC	AT COST	28,095	29,938
883556102 THERMO FISHER SCIENT	AT COST	24,909	35,281
89151E109 TOTAL FINA ELF S.A.	AT COST	33,132	37,504
09247X101 BLACKROCK INC	AT COST	27,328	26,331
46625H100 JPMORGAN CHASE & CO	AT COST	25,185	36,304
867224107 SUNCOR ENERGY INC NE	AT COST	32,247	34,276
00206R102 AT & T INC	AT COST	36,420	31,784
G29183103 EATON CORP PLC	AT COST	18,394	17,846
9128283W8 US TREASURY NOTE	AT COST	9,823	9,677
3128MJWB2 FHLMC POOL #G08641	AT COST	21,186	20,063
437076BM3 HOME DEPOT INC	AT COST	15,348	14,212
94973VAS6 WELLPOINT INC 4.350%	AT COST	10,859	10,168
912828U24 US TREASURY NOTE	AT COST	19,152	18,416
501889AB5 LKQ CORP 4.750% 5/15	AT COST	3,075	2,895
901165100 TWEEDY BROWNE FD GLO	AT COST	473,387	446,360
922031836 VANGUARD S/T INVEST	AT COST	152,913	147,939
52106N459 LAZARD GL LIST INFRA	AT COST	100,000	98,711
25278XAH2 DIAMONDBACK ENERGY	AT COST	3,120	2,985
780153AU6 ROYAL CARIBBEAN CRUI	AT COST	2,145	2,088
228189AB2 CROWN AMER/CAP CORP	AT COST	3,030	2,940
925652109 VICI PROPERTIES INC	AT COST	970	1,080
929042109 VORNADO REALTY TRUST	AT COST	3,433	3,540
84861U105 SPIRIT MTA REIT	AT COST	506	578
22822V101 CROWN CASTLE INTL CO	AT COST	5,966	6,089
30224P200 EXTENDED STAY AMERIC	AT COST	4,795	3,940
46284PAP9 IRON MOUNTAIN INC 5.	AT COST	3,071	2,944
23918KAP3 DAVITA INC 5.750% 8/	AT COST	3,221	3,038
126307AF4 CSC HOLDINGS. LLC 6.	AT COST	2,125	2,094
552953BY6 MGM RESORTS INTL 6.7	AT COST	3,270	3,126
87264AAJ4 T-MOBILE USA INC 6.5	AT COST	3,255	3,105
N22717107 CORE LABORATORIES N	AT COST	7,988	7,160
045327103 ASPEN TECHNOLOGY INC	AT COST	20,766	31,070
891092108 TORO CO	AT COST	19,618	15,998
74164M108 PRIMERICA INC	AT COST	31,747	42,908
57060D108 MARKETAXESS HLDGS IN	AT COST	21,092	22,435
22002T108 CORPORATE OFFICE PRO	AT COST	2,738	2,326
053484101 AVALONBAY CMNTYS INC	AT COST	24,532	25,255
30225T102 EXTRA SPACE STORAGE	AT COST	15,627	16,841
26884U109 EPR PROPERTIES	AT COST	9,041	9,624
84860W102 SPIRIT RLTY CAP INC	AT COST	8,153	7,789
1248EPBD4 CCO HLDGS LLC/CAP CO	AT COST	2,031	2,015
872540109 TJX COS INC NEW	AT COST	11,887	17,801
907818108 UNION PACIFIC CORP	AT COST	31,767	43,720
56501R106 MANULIFE FINANCIAL C	AT COST	20,696	18,754
H84989104 TE CONNECTIVITY LTD	AT COST	25,891	24,889
03076C106 AMERIPRISE FINL INC	AT COST	21,500	20,995
848574109 SPIRIT AEROSYTSEMS H	AT COST	10,469	16,046
38141GVM3 GOLDMAN SACHS GROUP	AT COST	8,124	7,947
531172104 LIBERTY PPTY TR SH B	AT COST	4,524	4,606
74460D109 PUBLIC STORAGE INC C	AT COST	7,806	7,602
444097109 HUDSON PACIFIC PROPE	AT COST	5,292	5,090
56063N600 MAINSTAY CONVERTIBLE	AT COST	200,000	193,443
922031760 VANGUARD HIGH YIELD	AT COST	174,000	173,476
722005667 PIMCO COMMODITY REAL	AT COST	190,000	167,659
315920702 FID ADV EMER MKTS IN	AT COST	178,042	159,686
74256W485 PRINCIPAL PREFERRED	AT COST	340,699	324,432
277911491 EATON VANCE FLOATING	AT COST	100,000	100,221
70299PGP6 PARTNERS GROUP PRIVA	AT COST	166,079	296,533
46429B655 ISHARES FLOATING RAT	AT COST	140,060	139,991
03674PAL7 ANTERO RESOURCES FIN	AT COST	1,930	2,003
29444UAP1 EQUINIX INC 5.750% 1	AT COST	2,085	2,038
675232AA0 OCEANEERING INTL INC	AT COST	1,945	1,857
12513GBA6 CDW LLC/CDW FINANCE	AT COST	3,263	3,030
85172FAJ8 SPRINGLEAF FINANCE	AT COST	3,311	3,210
896047AH0 TRIBUNE MEDIA CO	AT COST	2,022	2,025
552848AF0 MGIC INVESTMENT CORP	AT COST	5,321	5,125
680665AJ5 OLIN CORP	AT COST	2,978	2,794
25278XAE9 DIAMONDBACK ENERGY	AT COST	1,970	1,945
35671DAU9 FREEPORT-MCMORAN C 3	AT COST	1,935	1,893
78412FAP9 SESI LLC 7.125% 12/1	AT COST	3,090	2,978
18451QAM0 CLEAR CHANNEL WORLDW	AT COST	2,790	3,046
92343EAF9 VERISIGN INC 4.625%	AT COST	1,985	2,000
384109104 GRACO INC	AT COST	26,605	28,441
879360105 TELEDYNE TECHNOLOGIE	AT COST	29,229	44,256
741511109 PRICESMART INC	AT COST	22,034	19,361
875465106 TANGER FACTORY OUTLE	AT COST	3,012	2,961
88146M101 TERRENO REALTY CORP	AT COST	2,965	3,294
29472R108 EQUITY LIFESTYLE PPT	AT COST	5,762	6,534
46187W107 INVITATION HOMES INC	AT COST	19,847	19,342
526057104 LENNAR CORPORATION C	AT COST	10,261	8,510
743315103 PROGRESSIVE CORP OHI	AT COST	4,374	13,173
778296103 ROSS STORES INC	AT COST	5,991	15,444
615369105 MOODYS CORP	AT COST	3,890	14,403
92345Y106 VERISK ANALYTICS INC	AT COST	13,402	23,608
448579102 HYATT HOTELS CORP	AT COST	9,999	9,204
143130102 CARMAX INC	AT COST	22,972	32,597
Y2573F102 FLEXTRONICS INTL LTD	AT COST	30,109	13,779
037833100 APPLE COMPUTER INC C	AT COST	52,101	92,578
02079K107 ALPHABET INC/CA	AT COST	43,210	54,915
20030N101 COMCAST CORP CLASS A	AT COST	12,821	22,846
12572Q105 CME GROUP INC	AT COST	24,959	32,983
59156RBH0 METLIFE INC 3.600% 4	AT COST	20,977	19,868
126650DC1 CVS HEALTH CORP	AT COST	9,991	9,952
912828F21 US TREASURY NOTE 2.1	AT COST	30,542	29,321
66989HAJ7 NOVARTIS CAPITAL COR	AT COST	15,401	14,265
58013MEX8 MCDONALD'S CORP	AT COST	11,337	10,886
29358QAD1 ENSCO PLC	AT COST	3,090	2,800
87299AUC6 CB T-MOBILE USA INC
00130HBW4 AES CORP/VA	AT COST	2,098	2,005
64110LAL0 NETFLIX INC	AT COST	2,055	2,033
745867AW1 PULTEGROUP INC	AT COST	3,090	2,940
156700BA3 CENTURYLINK INC	AT COST	3,300	3,150
45031UBY6 ISTAR INC	AT COST	2,963	3,030
163851AB4 CHEMOURS CO	AT COST	1,845	2,045
629377CA8 NRG ENERGY INC	AT COST	2,205	2,125
12505FAD3 CBS OUTDOOR AMERS CA	AT COST	3,195	3,005
103304BK6 BOYD GAMING CORP	AT COST	2,060	2,078
058498AU0 BALL CORP	AT COST	3,064	3,000
750236AT8 RADIAN GROUP INC	AT COST	2,070	2,113
75281AAS8 RANGE RESOURCES CORP	AT COST	2,798	2,783
382550BG5 GOODYEAR TIRE & RUBB	AT COST	3,000	2,670
852061AM2 SPRINT NEXTEL CORP	AT COST	2,435	2,345
404121AG0 HCA INC 5.875% 5/01/	AT COST	3,188	3,116
1248EPBE2 CCO HLDGS LLC/CAP CO	AT COST	2,843	3,030
62886EAJ7 NCR CORP 5.000% 7/15	AT COST	2,015	1,920
63860UAK6 NATIONSTAR MORT/CAP	AT COST	2,828	2,998
60786M105 MOELIS & CO	AT COST	23,148	18,122
679580100 OLD DOMINION FREIGHT	AT COST	24,691	33,648
866674104 SUN CMNTYS INC COM	AT COST	9,669	11,052
828806109 SIMON PROPERTY GROUP	AT COST	28,963	33,034
42225P501 HEALTHCARE TRUST OF	AT COST	11,393	11,764
00206RDC3 AT&T INC	AT COST	10,123	10,097
61746BEA0 MORGAN STANLEY	AT COST	10,007	9,743
85207UAH8 SPRINT CORP 7.125% 6	AT COST	2,085	2,045
085790AY9 BERRY PLASTICS CORP	AT COST	1,870	1,990
126307AH0 CSC HOLDINGS. LLC	AT COST	2,888	2,891
78388JAT3 SBA COMMUNICATIONS	AT COST	2,993	2,974
785592AM8 SABINE PASS LIQUEFAC	AT COST	2,846	3,132
527298BH5 LEVEL 3 FINANCING IN	AT COST	2,045	1,953
030981AJ3 AMERIGAS PART/FIN CO	AT COST	3,105	2,835
55342UAG9 MPT OPER PARTNERSP/F	AT COST	3,116	2,895
626717AH5 MURPHY OIL CORP	AT COST	3,190	3,116
20605PAG6 CONCHO RESOURCES INC	AT COST	2,110	1,994
88947EAS9 TOLL BROS FINANCE CO	AT COST	3,128	2,768
1248EPAZ6 CCO HLDGS LLC/CAP CO	AT COST	2,005	1,990
527288BE3 LEUCADIA NATIONAL CO	AT COST	3,009	3,103
257651109 DONALDSON CO INC	AT COST	13,835	15,230
262037104 DRIL-QUIP INC COM	AT COST	20,156	20,259
749607107 RLI CORP COM	AT COST	7,683	10,128
04316A108 ARTISAN PARTNERS ASS	AT COST	15,350	13,678
32054K103 FIRST INDL RLTY TR I	AT COST	3,631	3,561
95040Q104 WELLTOWER INC	AT COST	15,512	19,226
03027X100 AMERICAN TOWER REIT	AT COST	6,340	6,856
40414L109 HCP INC	AT COST	4,367	4,380
71943U104 PHYSICIANS REALTY TR	AT COST	4,499	4,046
02665T306 AMERICAN HOMES 4 REN	AT COST	3,983	4,319
366651107 GARTNER INC	AT COST	30,296	35,700
530307107 LIBERTY BROADBAND CO	AT COST	2,591	5,133
89400J107 TRANSUNION	AT COST	17,619	19,265
75606N109 REALPAGE INC	AT COST	8,552	7,314
44267D107 HOWARD HUGHES CORP/T	AT COST	11,411	10,260
33616C100 FIRST REPUBLIC BANK/	AT COST	21,978	20,473
G5480U104 LIBERTY GLOBAL PLC-A	AT COST	3,821	4,152
25243Q205 DIAGEO PLC - ADR	AT COST	23,210	26,250
911312106 UNITED PARCEL SERVIC	AT COST	24,784	23,865
609207105 MONDELEZ INTERNATION	AT COST	34,290	33,542
3128MJW71 FHLMC POOL #G08669	AT COST	14,291	13,502
23918KAQ1 DAVITA HEALTHCARE PA	AT COST	3,055	2,865
87299ATP9 CB T-MOBILE USA INC
115637209 BROWN FORMAN CORP CL	AT COST	3,222	3,846
592688105 METTLER-TOLEDO INTL	AT COST	11,331	10,936
929160109 VULCAN MATLS CO	AT COST	19,136	16,385
115236101 BROWN & BROWN INC	AT COST	8,559	13,977
86614U100 SUMMIT MATERIALS INC	AT COST	6,219	4,482
48238T109 KAR AUCTION SERVICES	AT COST	4,504	6,776
531229409 LIBERTY SIRIUSXM GRO	AT COST	1,967	4,000
531229870 LIBERTY MEDIA GROUP	AT COST	436	919
097023105 BOEING COMPANY	AT COST	11,697	22,356
17275R102 CISCO SYSTEMS INC	AT COST	31,736	43,188

Description	Amount
GAIN/LOSS ON CY SALES NOT SETTLED AT YEA	1,124
COST BASIS ADJUSTMENT	7,302

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
INVESTMENT EXPENSES-DIVIDEND I	55	55		0
ADR/INVESTMENT FEES	166	166		0

Description	Amount
MUTUAL FUND TIMING DIFFERENCE	1,957
PY RETURN OF CAPITAL ADJUSTMENT	911

Category	Amount	Net Investment Income
FOREIGN TAXES	4,349	4,349
FEDERAL ESTIMATES - PRINCIPAL	900	0
FOREIGN TAXES ON NONQUALIFIED	53	53