TY 2018 Form 990PF

- TIN:

Form990-PF
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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.
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Go 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
SKINNER F S FOR UNIV OF PA TD

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

23-6427174

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

$2,883,317J 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...	76,546		74,702
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		179,699
b	Gross sales price for all assets on line 6a 1,112,626
7	Capital gain net income (from Part IV, line 2)...			179,699
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).......		32	31
12	Total. Add lines 1 through 11........	256,277		254,432
13	Compensation of officers, directors, trustees, etc.	47,503		42,752		4,750
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).......		996	0	0	996
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		7,428	1,971		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).......		725	677		48
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	56,652		45,400	0	5,794
25	Contributions, gifts, grants paid.......	150,000				150,000
26	Total expenses and disbursements. Add lines 24 and 25	206,652		45,400	0	155,794
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	49,625
b	Net investment income (if negative, enter -0-)			209,032
c	Adjusted net income (if negative, enter -0-)...				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	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.........	243,816	269,753	269,753
	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)..........	2,352,129	2,380,461	2,613,564
	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)	2,595,945	2,650,214	2,883,317
	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 SFAS 117, check here
		and complete lines 24 through 26 and lines 30 and 31.
	24	Unrestricted..................
	25	Temporarily restricted...............
	26	Permanently restricted...............
		Foundations that do not follow SFAS 117, check here
		and complete lines 27 through 31.
	27	Capital stock, trust principal, or current funds........	2,595,945	2,650,214
	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).....	2,595,945	2,650,214
	31	Total liabilities and net assets/fund balances (see instructions).	2,595,945	2,650,214

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 30 (must agree with end-of-year figure reported on prior year’s return) ...............

2,595,945

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

49,625

Other increases not included in line 2 (itemize) bullet

5,609

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

2,651,179

Decreases not included in line 2 (itemize) bullet

965

Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 30 .

2,650,214

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	47. ROSS STORES INC		2014-07-15	2018-01-02
b	79. INTEL CORP		2015-01-21	2018-01-03
c	44. MICROSOFT CORP		2010-01-04	2018-01-03
d	134. RIO TINTO PLC - ADR		2010-02-04	2018-01-05
e	27. BROWN FORMAN CORP CL B		2017-04-27	2018-01-10
	51. AMERICAN TOWER REIT		2015-09-25	2018-01-11
	33. DAVITA HEALTHCARE PARTNERS INC		2014-01-16	2018-01-18
	40. WABTEC CORP		2017-04-10	2018-01-23
	4. AIA GROUP LTD - SP ADR		2014-01-13	2018-01-24
	4. AKZO NOBEL N V ADR		2012-08-22	2018-01-24
	3. ALIBABA GROUP HOLDING LTD		2016-06-14	2018-01-24
	10. AMBEV SA-SPN ADR		2016-09-22	2018-01-24
	12. BP PLC - ADR		2017-03-17	2018-01-24
	11. BNP PARIBAS - ADR		2014-12-11	2018-01-24
	6. BT GROUP PLC - ADR		2015-08-03	2018-01-24
	19. BARCLAYS PLC - ADR		2017-07-26	2018-01-24
	5. BRAMBLES LTD-SPONSORED ADR		2016-12-14	2018-01-24
	11. CLP HOLDINGS LIMITED - ADR		2017-03-20	2018-01-24
	4. ENI SPA - ADR		2016-04-12	2018-01-24
	3. KBC GROEP NV-UNSP ADR		2017-07-27	2018-01-24
	12. KDDI CORP-UNSPONSORED ADR		2017-12-07	2018-01-24
	3. L'OREAL - ADR		2015-05-01	2018-01-24
	2. LVMH MOET HENNESSY UNSP ADR - ADR		2015-01-15	2018-01-24
	6. MITSUBISHI UFJ FINL GROUP INC ADR		2014-12-11	2018-01-24
	9. NESTLE S.A. REGISTERED SHARES - ADR		2013-09-11	2018-01-24
	15. RECKITT BENCKIS/S ADR		2012-06-25	2018-01-24
	8. RELX NV		2015-09-23	2018-01-24
	8. ROCHE HOLDINGS LTD - ADR		2014-10-27	2018-01-24
	6. SUMITOMO TRUST AND BANKING ADR		2016-12-20	2018-01-24
	10. SYMRISE AG ADR		2011-12-01	2018-01-24
	1. WPP PLC NEW		2014-05-02	2018-01-24
	5. ZURICH INSURANCE GROUP-ADR		2015-07-14	2018-01-24
	20. UBS GROUP AG		2014-01-08	2018-01-24
	83. OLIN CORP 1 COM & 1 TAEKOVER RT		2013-12-10	2018-02-08
	.3422 ALEXANDER & BALDWIN INC		2016-02-16	2018-02-13
	13. LIBERTY GLOBAL PLC-SERIES C		2017-06-28	2018-02-14
	57. LIBERTY GLOBAL PLC-SERIES C		2014-07-08	2018-02-14
	58. CDW CORP/DE		2015-10-01	2018-02-20
	254. TORO CO		2017-06-05	2018-02-20
	32. ALIBABA GROUP HOLDING LTD		2016-06-14	2018-02-28
	32. HDFC BANK LTD. - ADR		2016-12-13	2018-02-28
	435. SUMITOMO TRUST AND BANKING ADR		2016-04-14	2018-02-28
	74. TAIWAN SEMICONDUCTOR MANUFACTU - ADR		2014-12-11	2018-02-28
	25000. CHEVRON CORP 4.950% 3/03/19		2013-07-17	2018-03-13
	25000. FED HOME LN MTG CORP 2.375% 1/13/22		2016-01-21	2018-03-15
	25000. FED HOME LN MTG CORP 2.375% 1/13/22		2017-04-18	2018-03-15
	15000. GENERAL ELEC CAP COR 4.650% 10/17/21		2013-08-15	2018-03-15
	274. CDW CORP/DE		2015-10-01	2018-03-20
	282. DOWDUPONT INC		2013-10-07	2018-03-20
	155. GILEAD SCIENCES INC		2014-03-12	2018-03-20
	50. GILEAD SCIENCES INC		2017-06-26	2018-03-20
	214. LOWES COS INC		2013-11-04	2018-03-20
	16. NORTHROP GRUMMAN CORP		2014-01-22	2018-03-20
	1533. SUMITOMO TRUST AND BANKING ADR		2010-01-05	2018-03-21
	139. TECHTRONIC INDUSTRIES COMPANY - ADR		2016-11-04	2018-03-22
	3. DST SYS INC COM		2015-06-29	2018-03-27
	5. ENERGIZER SPINCO INC		2015-09-02	2018-03-27
	3. GATX CORP		2015-08-06	2018-03-27
	3. INGEVITY CORP		2017-03-24	2018-03-27
	4. KAMAN CORPCOMMON		2016-02-23	2018-03-27
	2. LANDSTAR SYS INC COM		2016-10-18	2018-03-27
	3. PRICESMART INC		2010-01-06	2018-03-27
	5. USG CORP COM NEW		2015-05-12	2018-03-27
	52. AIA GROUP LTD - SP ADR		2014-01-13	2018-04-03
	28. AIR LIQUIDE - ADR		2018-01-05	2018-04-03
	64. AKZO NOBEL N V ADR		2011-12-01	2018-04-03
	15.2926 ALEXANDER & BALDWIN INC		2016-01-26	2018-04-03
	67.7074 ALEXANDER & BALDWIN INC		2016-02-16	2018-04-03
	6. ALIBABA GROUP HOLDING LTD		2016-05-03	2018-04-03
	18. AMADEUS IT HOLDING-UNSP ADR		2017-04-06	2018-04-03
	50. AMBEV SA-SPN ADR		2016-09-22	2018-04-03
	13. AMPHENOL CORP CL A		2011-08-22	2018-04-03
	36. ARMSTRONG WORLD INDUSTRIES INC		2016-10-04	2018-04-03
	54. BP PLC - ADR		2016-01-28	2018-04-03
	45. BNP PARIBAS - ADR		2014-12-11	2018-04-03
	16. BT GROUP PLC - ADR		2015-08-03	2018-04-03
	138. BARCLAYS PLC - ADR		2017-07-26	2018-04-03
	53. BAYER AG - ADR		2014-10-21	2018-04-03
	15. BERKLEY W R CORP		2012-11-15	2018-04-03
	10. BERKLEY W R CORP		2017-06-28	2018-04-03
	82. BRAMBLES LTD-SPONSORED ADR		2016-12-14	2018-04-03
	54. BROOKFIELD ASSET MANAGE-CL A		2012-11-15	2018-04-03
	89. BROWN & BROWN INC		2014-04-22	2018-04-03
	7.75 BROWN FORMAN CORP CL B		2012-11-15	2018-04-03
	1.25 BROWN FORMAN CORP CL B		2017-04-27	2018-04-03
	22. BRUKER CORPORATION		2017-06-06	2018-04-03
	6. BRUKER CORPORATION		2017-10-09	2018-04-03
	35. CDW CORP/DE		2014-05-22	2018-04-03
	23. CARMAX INC		2017-12-21	2018-04-03
	8. CARMAX INC		2015-12-18	2018-04-03
	175. CLP HOLDINGS LIMITED - ADR		2018-03-22	2018-04-03
	32. COOPER TIRE & RUBR CO		2017-04-04	2018-04-03
	63. COPART INC COM		2012-11-15	2018-04-03
	14. CROWN CASTLE INTL CORP		2018-01-23	2018-04-03
	28. CROWN HLDGS INC		2012-11-15	2018-04-03
	30. DST SYS INC COM		2015-06-29	2018-04-03
	143. DAIKIN INDUSTRIES-UNSPONADR		2017-10-04	2018-04-03
	72. DANONE ADR		2015-08-13	2018-04-03
	20. DAVITA HEALTHCARE PARTNERS INC		2014-01-16	2018-04-03
	9. DECKERS OUTDOOR CORP		2013-09-18	2018-04-03
	18. DRIL-QUIP INC COM		2016-12-13	2018-04-03
	36. ENI SPA - ADR		2016-04-12	2018-04-03
	28. EATON VANCE CORP COM NON VTG		2011-08-30	2018-04-03
	18. ENBRIDGE INC		2017-03-17	2018-04-03
	40. ENERGIZER SPINCO INC		2015-09-02	2018-04-03
	34. EXPEDITORS INTL WASH INC		2010-05-06	2018-04-03
	9. FASTENAL CO		2014-01-31	2018-04-03
	19. FASTENAL CO		2017-04-27	2018-04-03
	40. GATX CORP		2015-08-06	2018-04-03
	29. GEA GROUP AG ADR		2018-01-05	2018-04-03
	42. GCP APPLIED TECHNOLOGIES INC		2018-02-08	2018-04-03
	32. GLACIER BANCORP INC MONTANA		2017-04-11	2018-04-03
	15. HDFC BANK LTD. - ADR		2016-12-20	2018-04-03
	8. HITACHI LIMITED - ADR		2014-07-03	2018-04-03
	28. INGEVITY CORP		2017-03-24	2018-04-03
	54. INTESA SANPAOLO-SPON ADR		2015-12-17	2018-04-03
	33. KBC GROEP NV-UNSP ADR		2017-07-27	2018-04-03
	35. KAMAN CORPCOMMON		2016-02-23	2018-04-03
	63. KDDI CORP-UNSPONSORED ADR		2017-12-07	2018-04-03
	17. KUBOTA LIMITED - ADR		2017-10-04	2018-04-03
	27. L'OREAL - ADR		2015-05-01	2018-04-03
	32. LVMH MOET HENNESSY UNSP ADR - ADR		2015-01-15	2018-04-03
	8. LABORATORY CRP OF AMER HLDGS		2012-11-15	2018-04-03
	4. LABORATORY CRP OF AMER HLDGS		2017-05-25	2018-04-03
	29. LANDSTAR SYS INC COM		2016-10-18	2018-04-03
	21. LIBERTY BROADBAND CORP		2017-11-02	2018-04-03
	7. LIBERTY BROADBAND CORP		2018-02-14	2018-04-03
	111. MBIA INC		2010-04-07	2018-04-03
	70. MSG NETWORKS INC		2017-10-10	2018-04-03
	2. MARKEL HOLDINGS		2012-11-15	2018-04-03
	37. MATSON INC.		2010-01-06	2018-04-03
	261. MITSUBISHI UFJ FINL GROUP INC ADR		2018-02-28	2018-04-03
	20. NESTLE S.A. REGISTERED SHARES - ADR		2011-12-01	2018-04-03
	8. NEWMARKET CORP		2010-01-06	2018-04-03
	1. NEWMARKET CORP		2018-02-23	2018-04-03
	45. NOVO NORDISK A/S - ADR		2017-09-20	2018-04-03
	7. O'REILLY AUTOMOTIVE INC		2017-07-10	2018-04-03
	26. OCEANEERING INTL INC		2015-02-20	2018-04-03
	12. OLIN CORP 1 COM & 1 TAEKOVER RT		2013-12-10	2018-04-03
	26. OMNICOM GROUP		2017-04-27	2018-04-03
	4. ORBITAL ATK INC		2018-02-05	2018-04-03
	14. ORBITAL ATK INC		2015-01-02	2018-04-03
	49. PENSKE AUTO GROUP INC		2016-09-12	2018-04-03
	21. PRICESMART INC		2010-01-06	2018-04-03
	21. RPM INTERNATIONAL INC		2018-02-05	2018-04-03
	34. RECKITT BENCKIS/S ADR		2012-06-25	2018-04-03
	76. RELX NV		2015-09-23	2018-04-03
	23. RIO TINTO PLC - ADR		2012-08-23	2018-04-03
	47. ROCHE HOLDINGS LTD - ADR		2014-10-27	2018-04-03
	13. ROSS STORES INC		2014-07-15	2018-04-03
	26. SCHEIN HENRY INC		2017-09-20	2018-04-03
	90. SCHNEIDER ELECTRIC SA - ADR		2018-01-05	2018-04-03
	36. SERVICE CORP INTL		2010-01-06	2018-04-03
	33. SEVEN I HOLDINGS CO LTD		2012-01-18	2018-04-03
	14. SILICON MOTION TECHNOL-ADR		2018-02-28	2018-04-03
	23. SOFTBANK CORP-UNSPON ADR		2017-12-07	2018-04-03
	27. STURM RUGER & CO INC		2016-09-15	2018-04-03
	50. SYMRISE AG ADR		2011-12-01	2018-04-03
	21. TJX COMPANIES INC		2018-01-02	2018-04-03
	47. TAIWAN SEMICONDUCTOR MANUFACTU - ADR		2014-12-11	2018-04-03
	37. TECHTRONIC INDUSTRIES COMPANY - ADR		2016-11-04	2018-04-03
	25. TEJON RANCH CO		2010-01-06	2018-04-03
	21. TEMPUR-PEDIC INTL INC		2013-09-18	2018-04-03
	14. TOKIO MARINE HOLDINGS INC ADR		2011-12-01	2018-04-03
	33. TREDEGAR CORPORATION		2016-07-29	2018-04-03
	65. USG CORP COM NEW		2015-05-12	2018-04-03
	36. VERSUM MATERIALS INC		2017-12-21	2018-04-03
	11. WPP PLC NEW		2014-05-02	2018-04-03
	13. YUM CHINA HOLDINGS INC		2018-02-28	2018-04-03
	21. ZOETIS INC		2017-02-27	2018-04-03
	39. ZURICH INSURANCE GROUP-ADR		2015-07-14	2018-04-03
	24.99941 ARCH CAPITAL GROUP LTD		2018-01-11	2018-04-03
	4.00059 ARCH CAPITAL GROUP LTD		2018-01-23	2018-04-03
	39. AXALTA COATING SYSTEMS LTD		2017-08-04	2018-04-03
	23. AXALTA COATING SYSTEMS LTD		2016-07-07	2018-04-03
	16. IHS MARKIT LTD		2017-06-28	2018-04-03
	25. IHS MARKIT LTD		2016-07-13	2018-04-03
	45. LIBERTY GLOBAL PLC-SERIES C		2012-11-15	2018-04-03
	2. WHITE MTNS INS GROUP		2010-01-06	2018-04-03
	93. UBS GROUP AG		2014-01-08	2018-04-03
	7. MELLANOX TECHNOLOGIES LTD		2017-04-06	2018-04-03
	159. DST SYS INC COM		2015-06-29	2018-04-16
	25000. US TREASURY NOTE 2.500% 5/15/24		2017-04-18	2018-04-23
	204. COOPER TIRE & RUBR CO		2017-04-04	2018-04-27
	488. COMCAST CORP CLASS A		2011-02-11	2018-05-03
	45. NETAPP INC		2017-01-11	2018-05-03
	15000. GENERAL ELEC CAP COR 4.650% 10/17/21		2013-08-15	2018-05-17
	10000. GENERAL ELEC CAP COR 4.650% 10/17/21		2018-04-27	2018-05-17
	141. BT GROUP PLC - ADR		2012-11-09	2018-05-22
	121. COPART INC COM		2012-11-15	2018-05-22
	235. LVMH MOET HENNESSY UNSP ADR - ADR		2011-12-01	2018-05-22
	46. BRITISH AMERICAN TOBACCO P.L.C - ADR		2018-05-22	2018-05-24
	15000. AMGEN INC 5.700% 2/01/19		2013-08-15	2018-06-04
	20000. FED HOME LN MTG CORP 3.750% 3/27/19		2013-11-21	2018-06-04
	5000. US TREASURY NOTE 2.625% 8/15/20		2014-09-30	2018-06-04
	98. ORBITAL ATK INC		2013-07-30	2018-06-06
	15000. PEPSICO INC 4.500% 1/15/20		2014-01-14	2018-06-11
	10000. VERIZON COMMUNICATIO 5.150% 9/15/23		2014-05-20	2018-06-15
	26. BERKLEY W R CORP		2012-11-15	2018-06-26
	49. DECKERS OUTDOOR CORP		2013-09-18	2018-06-26
	181. DANONE ADR		2011-12-01	2018-06-28
	60. L'OREAL - ADR		2015-04-30	2018-06-28
	56. RIO TINTO PLC - ADR		2012-08-23	2018-06-28
	140.75 BAYER AG ADR- RIGHTS DEEMED 7/15/18		2011-12-01	2018-07-02
	20000. FED HOME LN MTG CORP 3.750% 3/27/19		2013-11-21	2018-07-02
	41. CENTENE CORP DEL		2014-11-11	2018-07-03
	312. DELTA AIR LINES INC		2013-07-08	2018-07-03
	50. NETAPP INC		2017-01-11	2018-07-03
	122. STANLEY BLACK DECKER INC		2016-09-13	2018-07-03
	104. ZOETIS INC		2017-02-27	2018-07-05
	6. AIR LIQUIDE - ADR		2017-12-23	2018-07-10
	6. AKZO NOBEL N V ADR		2011-12-01	2018-07-10
	1. ALIBABA GROUP HOLDING LTD		2016-05-03	2018-07-10
	4. AMADEUS IT HOLDING-UNSP ADR		2017-04-06	2018-07-10
	1. AMBEV SA-SPN ADR		2016-09-22	2018-07-10
	8. BNP PARIBAS - ADR		2014-12-11	2018-07-10
	12. BAYER AG - ADR		2014-10-21	2018-07-10
	10. BRAMBLES LTD-SPONSORED ADR		2016-12-21	2018-07-10
	6. BRITISH AMERICAN TOBACCO P.L.C - ADR		2018-05-22	2018-07-10
	14. DAIKIN INDUSTRIES-UNSPONADR		2017-10-04	2018-07-10
	11. DANONE ADR		2011-12-01	2018-07-10
	7. ENBRIDGE INC		2017-03-17	2018-07-10
	10. GEA GROUP AG ADR		2018-01-05	2018-07-10
	2. HDFC BANK LTD. - ADR		2016-12-20	2018-07-10
	1. HITACHI LIMITED - ADR		2014-07-03	2018-07-10
	4. INTESA SANPAOLO-SPON ADR		2015-12-17	2018-07-10
	6. KBC GROEP NV-UNSP ADR		2017-07-27	2018-07-10
	8. KDDI CORP-UNSPONSORED ADR		2017-12-07	2018-07-10
	4. KUBOTA LIMITED - ADR		2017-10-04	2018-07-10
	8. NESTLE S.A. REGISTERED SHARES - ADR		2011-12-01	2018-07-10
	2. NOVO NORDISK A/S - ADR		2017-09-20	2018-07-10
	10. RECKITT BENCKIS/S ADR		2012-06-25	2018-07-10
	5. RELX NV		2015-09-23	2018-07-10
	14. ROCHE HOLDINGS LTD - ADR		2014-10-27	2018-07-10
	43. SCHNEIDER ELECTRIC SA - ADR		2017-10-03	2018-07-10
	3. SEVEN I HOLDINGS CO LTD		2012-01-18	2018-07-10
	1. SILICON MOTION TECHNOL-ADR		2018-02-28	2018-07-10
	6. SOFTBANK CORP-UNSPON ADR		2017-12-07	2018-07-10
	16. SYMRISE AG ADR		2011-12-01	2018-07-10
	4. TECHTRONIC INDUSTRIES COMPANY - ADR		2016-11-04	2018-07-10
	1. TESCO PLC - ADR		2018-06-29	2018-07-10
	1. TOKIO MARINE HOLDINGS INC ADR		2011-12-01	2018-07-10
	1. WPP PLC NEW		2014-05-02	2018-07-10
	3. YUM CHINA HOLDINGS INC		2018-02-28	2018-07-10
	11. ZURICH INSURANCE GROUP-ADR		2015-07-14	2018-07-10
	19. UBS GROUP AG		2014-01-08	2018-07-10
	5000. PEPSICO INC 4.500% 1/15/20		2014-01-14	2018-07-11
	5000. PEPSICO INC 4.500% 1/15/20		2018-04-27	2018-07-11
	58. ALIBABA GROUP HOLDING LTD		2016-02-03	2018-07-18
	106. RPM INTERNATIONAL INC		2018-02-05	2018-07-20
	10000. US TREASURY NOTE 2.250% 11/15/25		2017-08-10	2018-07-24
	117. AETNA INC-NEW		2014-06-09	2018-08-09
	44. CENTENE CORP DEL		2014-11-11	2018-08-09
	256. LINCOLN NATL CORP IND		2013-04-22	2018-08-09
	228. RAYMOND JAMES FINL INC		2017-11-13	2018-08-09
	237. TYSON FOODS INC CL A DEL		2017-12-15	2018-08-09
	22. VMWARE INC		2017-03-02	2018-08-09
	2. ALPHABET INC/CA		2016-01-22	2018-08-10
	7. CHEVRON CORP		2016-06-14	2018-08-10
	34. HP INC		2017-05-04	2018-08-10
	5. MICROSOFT CORP		2010-01-04	2018-08-10
	16. SYSCO CORP		2016-06-14	2018-08-10
	5. UNITEDHEALTH GROUP INC		2015-02-25	2018-08-10
	16. VALERO ENERGY CORP		2014-04-30	2018-08-10
	7. WAL MART STORES INC		2016-10-31	2018-08-10
	104. DAVITA HEALTHCARE PARTNERS INC		2014-01-16	2018-08-17
	21. COPART INC COM		2012-11-15	2018-09-04
	15. OMNICOM GROUP		2017-04-27	2018-09-04
	11. TJX COMPANIES INC		2018-01-02	2018-09-04
	5000. BANK OF AMERICA CORP 5.625% 7/01/20		2013-01-11	2018-09-11
	10000. FED NATL MTG ASSN 2.625% 9/06/24		2015-02-20	2018-09-18
	10000. US TREASURY NOTE 2.125% 9/30/21		2015-08-18	2018-09-18
	10000. US TREASURY NOTE 2.000% 12/31/22		2017-04-18	2018-09-18
	10000. WELLPOINT INC 4.350% 8/15/20		2012-03-07	2018-09-18
	447. GENERAL MOTORS CO		2016-01-22	2018-09-19
	16. UNITEDHEALTH GROUP INC		2015-02-25	2018-09-19
	8. GCP APPLIED TECHNOLOGIES INC		2018-02-01	2018-09-27
	10000. TIME WARNER INC 4.875% 3/15/20		2018-04-27	2018-09-27
	10000. TIME WARNER INC 4.875% 3/15/20		2012-03-07	2018-09-27
	6. UNION BANKSHARES CORP		2018-06-14	2018-09-27
	41. TJX COMPANIES INC		2017-11-17	2018-10-05
	38. BRITISH AMERICAN TOBACCO P.L.C - ADR		2018-05-22	2018-10-16
	279. EXPEDITORS INTL WASH INC		2018-07-03	2018-10-16
	27. NESTLE S.A. REGISTERED SHARES - ADR		2011-12-01	2018-10-16
	186. DAIKIN INDUSTRIES-UNSPONADR		2015-12-16	2018-10-17
	33. ABBOTT LABS		2017-11-13	2018-11-14
	16. ABBVIE INC		2018-03-20	2018-11-14
	27. AGILENT TECHNOLOGIES INC		2017-09-07	2018-11-14
	31. ALLISON TRANSMISSION HOLDINGS		2018-09-19	2018-11-14
	1. ALPHABET INC/CA		2016-01-22	2018-11-14
	9. AMGEN INC		2015-01-21	2018-11-14
	12. APPLE INC		2010-07-12	2018-11-14
	27. APPLIED INDL TECHNOLOGIES INC COM		2018-02-20	2018-11-14
	17. AVERY DENNISON CORP		2015-06-11	2018-11-14
	69. BANK OF AMERICA CORP		2017-01-11	2018-11-14
	29. BAXTER INTL INC		2017-12-15	2018-11-14
	13. CENTENE CORP DEL		2014-11-11	2018-11-14
	66. CENTERPOINT ENERGY INC		2017-09-07	2018-11-14
	11. CHEVRON CORP		2016-06-14	2018-11-14
	40. CISCO SYSTEMS INC		2018-03-20	2018-11-14
	42. CITIZENS FINANCIAL GROUP INC		2017-01-11	2018-11-14
	10. COSTCO WHOLESALE CORP		2018-03-20	2018-11-14
	11. CUMMINS INC.		2017-11-13	2018-11-14
	20. EMCOR GROUP INC COM		2016-12-13	2018-11-14
	21. ENCOMPASS HEALTH CORP		2018-08-09	2018-11-14
	15. EVERCORE PARTNERS INC		2018-07-03	2018-11-14
	9. EXXON MOBIL CORPORATION		2018-01-03	2018-11-14
	71. HP INC		2017-05-04	2018-11-14
	3. HOME DEPOT INC		2010-01-04	2018-11-14
	9. HOME DEPOT INC		2018-01-03	2018-11-14
	57. HUNTSMAN CORP		2018-03-20	2018-11-14
	38. INTEL CORP		2015-01-21	2018-11-14
	22. JPMORGAN CHASE & CO		2018-01-03	2018-11-14
	52. JABIL CIRCUIT INC COM		2015-12-21	2018-11-14
	12. JOHNSON & JOHNSON		2017-08-01	2018-11-14
	13. LEAR CORP		2013-09-20	2018-11-14
	56. MACY'S INC		2018-05-03	2018-11-14
	18. MARATHON PETROLEUM CORP.		2018-10-16	2018-11-14
	19. MICROSOFT CORP		2010-01-04	2018-11-14
	30. NETAPP INC		2017-01-11	2018-11-14
	15. NORTHERN TRUST CORP		2018-08-09	2018-11-14
	6. NORTHROP GRUMMAN CORP		2014-01-22	2018-11-14
	10. NVIDIA CORP		2016-04-12	2018-11-14
	84. ON SEMICONDUCTOR CORP		2017-11-13	2018-11-14
	26. PROGRESSIVE CORP OHIO		2018-08-09	2018-11-14
	16. PRUDENTIAL FINL INC		2015-08-13	2018-11-14
	23. SYSCO CORP		2016-06-14	2018-11-14
	35. TJX COMPANIES INC		2016-09-13	2018-11-14
	29. TARGET CORP		2017-09-07	2018-11-14
	7. UNITEDHEALTH GROUP INC		2015-02-25	2018-11-14
	16. VALERO ENERGY CORP		2014-04-30	2018-11-14
	13. VMWARE INC		2017-03-02	2018-11-14
	16. WAL MART STORES INC		2016-10-31	2018-11-14
	12. ZEBRA TECHNOLOGIES CORP CL A		2018-08-09	2018-11-14
	15000. US TREASURY NOTE 3.125% 5/15/19		2013-10-21	2018-11-26
	15000. BANK OF AMERICA CORP 5.625% 7/01/20		2013-01-11	2018-11-27
	85. ENERGIZER SPINCO INC		2015-09-02	2018-11-27
	98. SERVICE CORP INTL		2010-01-06	2018-11-27
	112. ADIENT PLC -W/I		2018-06-26	2018-11-27
	151. AIR LIQUIDE - ADR		2017-12-23	2018-12-11
	61. CDW CORP/DE		2014-05-22	2018-12-11
	75. KBC GROEP NV-UNSP ADR		2015-12-17	2018-12-11
	10000. US TREASURY NOTE 3.125% 5/15/19		2013-10-21	2018-12-11
	218. DAIKIN INDUSTRIES-UNSPONADR		2015-12-16	2018-12-12
	128. OCEANEERING INTL INC		2015-02-07	2018-12-26
	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	3,783	1,536	2,247
b	3,481	2,882	599
c	3,797	1,369	2,428
d	7,286	6,460	826
e	1,832	1,268	564
	6,877	4,540	2,337
	2,579	2,211	368
	3,312	3,246	66
	137	77	60
	124	74	50
	587	234	353
	68	61	7
	527	412	115
	460	340	120
	112	220	-108
	226	210	16
	80	91	-11
	110	114	-4
	147	120	27
	142	123	19
	154	171	-17
	137	113	24
	121	69	52
	47	34	13
	789	596	193
	305	154	151
	180	125	55
	248	292	-44
	57	48	9
	210	67	143
	93	109	-16
	168	159	9
	413	400	13
	2,713	2,282	431
	8	8
	445	396	49
	1,950	1,711	239
	4,127	2,365	1,762
	15,769	17,646	-1,877
	5,959	2,495	3,464
	3,121	2,009	1,112
	3,813	3,012	801
	3,235	1,657	1,578
	25,562	28,892	-3,330
	24,792	25,847	-1,055
	24,792	25,665	-873
	15,665	16,085	-420
	20,563	11,171	9,392
	18,842	11,204	7,638
	11,940	12,275	-335
	3,852	3,563	289
	18,375	10,631	7,744
	5,552	1,925	3,627
	13,049	8,779	4,270
	4,070	2,606	1,464
	250	186	64
	261	207	54
	208	153	55
	222	183	39
	247	172	75
	217	132	85
	247	59	188
	202	136	66
	1,798	1,001	797
	676	733	-57
	2,011	1,097	914
	349	487	-138
	1,543	2,147	-604
	1,051	459	592
	1,307	924	383
	356	306	50
	1,099	276	823
	1,968	1,490	478
	2,186	1,795	391
	1,651	1,392	259
	254	587	-333
	1,626	1,525	101
	1,474	1,755	-281
	1,089	580	509
	726	694	32
	1,248	1,487	-239
	2,102	1,183	919
	2,236	1,305	931
	417	201	216
	67	47	20
	651	602	49
	178	183	-5
	2,424	983	1,441
	1,374	1,522	-148
	478	405	73
	1,794	1,821	-27
	908	1,386	-478
	3,160	919	2,241
	1,501	1,538	-37
	1,416	1,025	391
	2,506	1,861	645
	1,574	1,481	93
	1,143	974	169
	1,285	1,291	-6
	801	543	258
	796	1,155	-359
	1,278	1,076	202
	1,526	681	845
	537	752	-215
	2,297	1,655	642
	2,164	1,385	779
	486	396	90
	1,026	867	159
	2,710	2,044	666
	1,207	1,434	-227
	1,211	1,381	-170
	1,213	1,072	141
	1,476	902	574
	574	595	-21
	2,027	1,706	321
	1,175	1,099	76
	1,415	1,352	63
	2,124	1,504	620
	789	898	-109
	1,463	1,555	-92
	1,214	1,020	194
	2,005	1,099	906
	1,303	665	638
	652	566	86
	3,133	1,907	1,226
	1,749	1,871	-122
	583	625	-42
	1,026	855	171
	1,528	1,552	-24
	2,301	951	1,350
	1,047	643	404
	1,707	1,874	-167
	1,550	1,170	380
	3,171	988	2,183
	399	429	-30
	2,190	2,214	-24
	1,659	1,196	463
	478	1,361	-883
	357	330	27
	1,851	2,149	-298
	531	528	3
	1,859	712	1,147
	2,121	2,349	-228
	1,714	416	1,298
	996	1,033	-37
	571	349	222
	1,567	1,189	378
	1,176	1,082	94
	1,316	1,713	-397
	991	425	566
	1,736	2,073	-337
	1,534	1,588	-54
	1,334	301	1,033
	704	465	239
	681	651	30
	839	960	-121
	1,461	1,462	-1
	980	337	643
	1,725	1,611	114
	2,038	1,049	989
	1,052	681	371
	575	737	-162
	942	930	12
	629	338	291
	560	595	-35
	2,571	1,766	805
	1,322	1,387	-65
	862	1,197	-335
	509	569	-60
	1,733	1,130	603
	1,257	1,237	20
	2,150	2,288	-138
	344	374	-30
	1,182	1,103	79
	697	631	66
	764	724	40
	1,194	822	372
	1,353	1,323	30
	1,617	668	949
	1,600	1,862	-262
	509	354	155
	13,356	9,861	3,495
	24,456	25,820	-1,364
	5,491	8,813	-3,322
	15,103	5,847	9,256
	3,026	1,597	1,429
	15,583	15,773	-190
	10,389	10,434	-45
	1,939	3,595	-1,656
	6,410	1,764	4,646
	17,129	7,416	9,713
	2,332	2,329	3
	15,276	17,151	-1,875
	20,235	22,116	-1,881
	5,009	5,173	-164
	13,181	4,106	9,075
	15,432	16,674	-1,242
	10,793	11,211	-418
	1,904	1,006	898
	5,817	2,957	2,860
	2,616	2,395	221
	2,876	2,266	610
	3,088	2,624	464
	234		234
	20,207	22,002	-1,795
	5,124	1,941	3,183
	15,291	5,950	9,341
	3,911	1,775	2,136
	16,168	14,672	1,496
	8,921	5,596	3,325
	154	161	-7
	174	97	77
	193	76	117
	325	205	120
	5	6	-1
	250	248	2
	334	397	-63
	135	179	-44
	311	304	7
	161	145	16
	165	145	20
	248	292	-44
	329	494	-165
	215	120	95
	71	74	-3
	71	81	-10
	232	246	-14
	111	114	-3
	323	366	-43
	640	452	188
	99	98	1
	170	103	67
	109	78	31
	398	510	-112
	710	756	-46
	60	42	18
	54	47	7
	235	250	-15
	366	108	258
	110	74	36
	10	10
	48	24	24
	81	109	-28
	112	131	-19
	329	344	-15
	289	375	-86
	5,132	5,558	-426
	5,132	5,154	-22
	11,076	3,888	7,188
	6,493	5,216	1,277
	9,559	10,081	-522
	22,687	9,253	13,434
	6,071	2,083	3,988
	17,106	8,045	9,061
	20,753	18,959	1,794
	14,147	19,289	-5,142
	3,369	1,986	1,383
	2,480	1,450	1,030
	855	710	145
	816	640	176
	547	156	391
	1,108	776	332
	1,305	573	732
	1,839	916	923
	629	491	138
	7,572	6,579	993
	1,357	306	1,051
	1,021	1,129	-108
	1,223	844	379
	5,212	5,917	-705
	9,767	10,239	-472
	9,784	10,170	-386
	9,679	10,145	-466
	10,200	10,875	-675
	15,996	13,200	2,796
	4,233	1,835	2,398
	211	269	-58
	10,283	10,338	-55
	10,283	11,247	-964
	231	243	-12
	4,514	2,951	1,563
	1,591	1,924	-333
	18,870	20,402	-1,532
	2,182	1,527	655
	2,312	1,640	672
	2,312	1,822	490
	1,427	1,821	-394
	1,745	1,758	-13
	1,451	1,620	-169
	1,047	725	322
	1,729	1,415	314
	2,325	447	1,878
	1,781	1,947	-166
	1,573	1,060	513
	1,929	1,575	354
	1,837	1,895	-58
	1,800	615	1,185
	1,842	1,972	-130
	1,290	1,116	174
	1,816	1,782	34
	1,588	1,519	69
	2,365	1,860	505
	1,594	1,861	-267
	1,478	1,451	27
	1,521	1,657	-136
	1,224	1,599	-375
	711	782	-71
	1,721	1,336	385
	546	87	459
	1,638	1,698	-60
	1,232	1,739	-507
	1,818	1,386	432
	2,424	2,379	45
	1,280	1,205	75
	1,742	1,593	149
	1,781	926	855
	1,983	1,763	220
	1,175	1,432	-257
	2,052	591	1,461
	2,400	1,065	1,335
	1,457	1,670	-213
	1,655	722	933
	2,061	356	1,705
	1,468	1,817	-349
	1,793	1,625	168
	1,532	1,429	103
	1,541	1,116	425
	1,906	1,303	603
	2,450	1,697	753
	1,889	803	1,086
	1,356	916	440
	1,999	1,173	826
	1,648	1,122	526
	2,133	1,949	184
	15,040	16,284	-1,244
	15,496	17,751	-2,255
	3,925	3,517	408
	4,314	820	3,494
	2,590	5,598	-3,008
	3,633	3,933	-300
	5,544	1,713	3,831
	2,544	2,995	-451
	10,025	10,795	-770
	2,347	1,506	841
	1,391	4,676	-3,285
			46

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			2,247
b			599
c			2,428
d			826
e			564
			2,337
			368
			66
			60
			50
			353
			7
			115
			120
			-108
			16
			-11
			-4
			27
			19
			-17
			24
			52
			13
			193
			151
			55
			-44
			9
			143
			-16
			9
			13
			431

			49
			239
			1,762
			-1,877
			3,464
			1,112
			801
			1,578
			-3,330
			-1,055
			-873
			-420
			9,392
			7,638
			-335
			289
			7,744
			3,627
			4,270
			1,464
			64
			54
			55
			39
			75
			85
			188
			66
			797
			-57
			914
			-138
			-604
			592
			383
			50
			823
			478
			391
			259
			-333
			101
			-281
			509
			32
			-239
			919
			931
			216
			20
			49
			-5
			1,441
			-148
			73
			-27
			-478
			2,241
			-37
			391
			645
			93
			169
			-6
			258
			-359
			202
			845
			-215
			642
			779
			90
			159
			666
			-227
			-170
			141
			574
			-21
			321
			76
			63
			620
			-109
			-92
			194
			906
			638
			86
			1,226
			-122
			-42
			171
			-24
			1,350
			404
			-167
			380
			2,183
			-30
			-24
			463
			-883
			27
			-298
			3
			1,147
			-228
			1,298
			-37
			222
			378
			94
			-397
			566
			-337
			-54
			1,033
			239
			30
			-121
			-1
			643
			114
			989
			371
			-162
			12
			291
			-35
			805
			-65
			-335
			-60
			603
			20
			-138
			-30
			79
			66
			40
			372
			30
			949
			-262
			155
			3,495
			-1,364
			-3,322
			9,256
			1,429
			-190
			-45
			-1,656
			4,646
			9,713
			3
			-1,875
			-1,881
			-164
			9,075
			-1,242
			-418
			898
			2,860
			221
			610
			464
			234
			-1,795
			3,183
			9,341
			2,136
			1,496
			3,325
			-7
			77
			117
			120
			-1
			2
			-63
			-44
			7
			16
			20
			-44
			-165
			95
			-3
			-10
			-14
			-3
			-43
			188
			1
			67
			31
			-112
			-46
			18
			7
			-15
			258
			36

			24
			-28
			-19
			-15
			-86
			-426
			-22
			7,188
			1,277
			-522
			13,434
			3,988
			9,061
			1,794
			-5,142
			1,383
			1,030
			145
			176
			391
			332
			732
			923
			138
			993
			1,051
			-108
			379
			-705
			-472
			-386
			-466
			-675
			2,796
			2,398
			-58
			-55
			-964
			-12
			1,563
			-333
			-1,532
			655
			672
			490
			-394
			-13
			-169
			322
			314
			1,878
			-166
			513
			354
			-58
			1,185
			-130
			174
			34
			69
			505
			-267
			27
			-136
			-375
			-71
			385
			459
			-60
			-507
			432
			45
			75
			149
			855
			220
			-257
			1,461
			1,335
			-213
			933
			1,705
			-349
			168
			103
			425
			603
			753
			1,086
			440
			826
			526
			184
			-1,244
			-2,255
			408
			3,494
			-3,008
			-300
			3,831
			-451
			-770
			841
			-3,285

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	179,699
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))
2017
2016
2015
2014
2013

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

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 ......

Enter the net value of noncharitable-use assets for 2018 from Part X, line 5......

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

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

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

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

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)

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	4,181
	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	4,181
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	4,181
6	Credits/Payments:

a	2018 estimated tax payments and 2017 overpayment credited to 2018	6a	3,024
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	3,024
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	1,157
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10
11	Enter the amount of line 10 to be: Credited to 2019 estimated tax0	Refunded	11	0

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 2018 or the taxable year beginning in 2018? 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 (2018)

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 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

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 2018?.............

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 2018, did the foundation have any undistributed income (lines 6d

and 6e, Part XIII) for tax year(s) beginning before 2018?.............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 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.)..................

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 2018?

Form 990-PF (2018)

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-)	(d) Contributions to employee benefit plans and deferred compensation	(e) Expense account, other allowances
Wells Fargo Bank NA	TRUSTEE 1	47,503
100 N MAIN ST MAC D4001-117 WINSTON SALEM,NV27101	TRUSTEE 1	47,503

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 (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
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 (2018)

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...................

2,924,605

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

269,104

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

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

3,193,709

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.........................

3,193,709

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

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

47,906

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

3,145,803

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

157,290

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.)

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

157,290

Tax on investment income for 2018 from Part VI, line 5......

4,181

Income tax for 2018. (This does not include the tax from Part VI.)...

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

4,181

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

153,109

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

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

153,109

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

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

153,109

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 ..........

155,794

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

155,794

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..............

155,794

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)

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					153,109
2 Undistributed income, if any, as of the end of 2018:
a Enter amount for 2017 only.......				22,070
b Total for prior years:2016, 2015, 20			0
3 Excess distributions carryover, if any, to 2018:
a From 2013......	0
b From 2014......	0
c From 2015......	0
d From 2016......	0
e From 2017......	0
fTotal of lines 3a through e........		0
4Qualifying distributions for 2018 from Part
XII, line 4: $ 155,794
a Applied to 2017, but not more than line 2a				22,070
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.....					133,724
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 ..........					19,385
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....	0
b Excess from 2015....	0
c Excess from 2016....	0
d Excess from 2017....	0
e Excess from 2018....	0

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 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) 2018	(b) 2017	(c) 2016	(d) 2015	(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 (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)		Foundation status of recipient	Purpose of grant or contribution	Amount
aPaid during the year
UNIVERSITY OF PENNSYLVANIA 2929 WALNUT STREET SUITE 300 PHILADELPHIA,PA191045099	NONE	PC	GENERAL OPERATING	150,000
Total ................................. 3a				150,000

bApproved for future payment

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

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	(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	76,546
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	179,699
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aFEDERAL TAX REFUND			1	1
bANNUITIES FROM NON			1	31
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				256,277

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

256,277

(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 (2018)

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 (2018)

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	996			996

Identifier	Return Reference	Explanation
The compensation reported in column (c) is calculated based on	periodic market values and/or the applicable fee agreement. It is not	determined on an hourly basis and the reference to one hour per week is an estimate only. Corporate trustee services include, but are not limited to, administrative services such as fiduciary accounting, custody of assets, complying with tax filing requirements, complying with distribution provisions, and complying with federal and state laws applicable to private foundations, plus asset management services such as creating asset allocation strategies, investments reporting and reallocating and rebalancing of portfolios as necessary.

- TIN:

TY 2018 InvestmentsOtherSchedule2

Name:

SKINNER F S FOR UNIV OF PA TD

EIN:

23-6427174

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
112585104 BROOKFIELD ASSET MAN	AT COST	5,606	9,818
071813109 BAXTER INTL INC COM	AT COST	18,101	18,232
29084Q100 EMCOR GROUP INC COM	AT COST	15,312	12,595
665859104 NORTHERN TRUST CORP	AT COST	19,488	14,628
217204106 COPART INC COM	AT COST	2,551	8,362
46115H107 INTESA SANPAOLO-SPON	AT COST	8,554	6,697
06738E204 BARCLAYS PLC ADR	AT COST	11,650	9,093
055622104 BP P L C SPONS ADR	AT COST	14,514	17,292
H42097107 UBS GROUP AG	AT COST	16,512	11,910
361592108 GEA GROUP AG ADR	AT COST	13,245	8,320
570535104 MARKEL HOLDINGS	AT COST	5,636	12,457
778296103 ROSS STORES INC	AT COST	2,124	5,574
031162100 AMGEN INC	AT COST	12,739	15,768
037833100 APPLE COMPUTER INC C	AT COST	5,217	22,084
458140100 INTEL CORP	AT COST	12,803	16,472
478160104 JOHNSON & JOHNSON	AT COST	16,327	15,873
931142103 WAL MART STORES INC	AT COST	13,530	17,978
67066G104 NVIDIA CORP	AT COST	3,491	13,083
060505104 BANK AMER CORP	AT COST	14,700	15,868
22160K105 COSTCO WHOLESALE COR	AT COST	18,418	20,167
91324P102 UNITEDHEALTH GROUP I	AT COST	9,175	19,930
46625H100 JPMORGAN CHASE & CO	AT COST	14,349	20,403
00206RDC3 AT&T INC	AT COST	15,185	15,249
3135G0K36 FED NATL MTG ASSN	AT COST	18,958	19,050
912828U24 US TREASURY NOTE	AT COST	28,968	28,637
260543CF8 DOW CHEMICAL CO/THE	AT COST	15,784	15,264
406216BD2 HALLIBURTON COMPANY	AT COST	25,277	24,816
262037104 DRIL-QUIP INC COM	AT COST	8,031	3,784
29272W109 ENERGIZER SPINCO INC	AT COST	5,090	5,553
553573106 MSG NETWORKS INC	AT COST	8,196	9,094
575385109 MASONITE INTERNATION	AT COST	8,683	5,469
806407102 SCHEIN HENRY INC	AT COST	10,139	10,443
872540109 TJX COS INC NEW	AT COST	16,693	20,267
37637Q105 GLACIER BANCORP INC	AT COST	2,749	6,181
G0750C108 AXALTA COATING SYSTE	AT COST	10,328	9,321
G47567105 IHS MARKIT LTD	AT COST	6,477	9,450
053611109 AVERY DENNISON CORP	AT COST	11,726	16,888
594918104 MICROSOFT CORP	AT COST	6,968	22,752
989207105 ZEBRA TECHNOLOGIES C	AT COST	22,580	22,133
87612E106 TARGET CORP	AT COST	16,266	18,373
682189105 ON SEMICONDUCTOR COR	AT COST	17,151	13,092
15189T107 CENTERPOINT ENERGY I	AT COST	16,136	15,244
56585A102 MARATHON PETROLEUM C	AT COST	18,455	13,690
767204100 RIO TINTO PLC - ADR	AT COST	9,685	10,666
881575302 TESCO PLC - ADR	AT COST	3,475	2,503
105105209 BRAMBLES LTD-SPONSOR	AT COST	11,579	10,507
606822104 MITSUBISHI UFJ FINL	AT COST	9,626	9,365
M51363113 MELLANOX TECHNOLOGIE	AT COST	3,190	5,820
743315103 PROGRESSIVE CORP OHI	AT COST	19,942	19,245
871829107 SYSCO CORP	AT COST	12,853	16,605
166764100 CHEVRON CORP	AT COST	12,882	13,816
40434L105 HP INC	AT COST	15,299	16,634
01973R101 ALLISON TRANSMISSION	AT COST	20,175	16,949
26874R108 ENI SPA - ADR	AT COST	7,457	7,938
771195104 ROCHE HOLDINGS LTD -	AT COST	13,699	17,063
81783H105 SEVEN I HOLDINGS CO	AT COST	3,867	6,026
80687P106 SCHNEIDER ELECTRIC S	AT COST	16,285	14,656
87155N109 SYMRISE AG ADR	AT COST	3,362	9,244
759530108 RELX PLC	AT COST	8,870	12,969
40415F101 HDFC BANK LTD. - ADR	AT COST	5,773	13,777
82706C108 SILICON MOTION TECHN	AT COST	5,675	4,209
001317205 AIA GROUP LTD - SP A	AT COST	7,098	12,988
83546A203 SONIC HEALTHCARE LTD	AT COST	6,819	6,584
889094108 TOKIO MARINE HOLDING	AT COST	2,948	5,785
36164Y101 GCP APPLIED TECHNOLO	AT COST	11,833	9,084
651587107 NEWMARKET CORP	AT COST	9,175	20,605
302130109 EXPEDITORS INTL WASH	AT COST	5,928	10,758
115236101 BROWN & BROWN INC	AT COST	5,217	11,052
666807102 NORTHROP GRUMMAN COR	AT COST	6,618	13,470
174610105 CITIZENS FINANCIAL G	AT COST	14,720	12,100
464287200 ISHARES S & P 500 IN	AT COST	35,570	36,483
521865204 LEAR CORP	AT COST	7,978	13,760
670100205 NOVO NORDISK A/S - A	AT COST	19,819	18,797
23636T100 DANONE ADR	AT COST	6,705	7,214
22943F100 CTRIP.COM INTERNATIO	AT COST	4,697	2,679
98850P109 YUM CHINA HOLDINGS I	AT COST	10,055	8,148
912828QN3 U S TREASURY NT 3.12	AT COST	25,352	25,371
361448103 GATX CORP	AT COST	9,944	14,374
515098101 LANDSTAR SYS INC COM	AT COST	9,645	14,159
084423102 BERKLEY W R CORP	AT COST	3,637	6,948
115637209 BROWN FORMAN CORP CL	AT COST	1,321	2,427
311900104 FASTENAL CO	AT COST	6,047	7,216
681919106 OMNICOM GROUP	AT COST	5,399	8,276
67103H107 O'REILLY AUTOMOTIVE	AT COST	5,808	11,707
256746108 DOLLAR TREE INC	AT COST	12,393	13,367
437076102 HOME DEPOT INC	AT COST	3,463	20,618
744320102 PRUDENTIAL FINL INC	AT COST	13,131	11,988
29977A105 EVERCORE PARTNERS IN	AT COST	18,118	12,165
928563402 VMWARE INC	AT COST	14,081	21,392
874039100 TAIWAN SEMICONDUCTOR	AT COST	4,527	12,586
502117203 L'OREAL - ADR	AT COST	5,691	7,169
05565A202 BNP PARIBAS - ADR	AT COST	9,631	9,534
056752108 BAIDU COM INC	AT COST	9,387	5,551
02319V103 AMBEV SA-SPN ADR	AT COST	2,627	1,682
606822BA1 MITSUBISHI UFJ FIN	AT COST	19,958	20,092
912828KQ2 US TREASURY NOTE 3.1	AT COST	25,211	25,056
61746BEA0 MORGAN STANLEY	AT COST	19,935	19,576
66989HAG3 NOVARTIS CAPITAL COR	AT COST	26,139	25,143
912828WJ5 US TREASURY NOTE 2.5	AT COST	30,485	29,945
064159FL5 BANK OF NOVA SCOTIA	AT COST	14,749	14,870
3135G0ZR7 FED NATL MTG ASSN 2.	AT COST	45,839	44,843
9128284T4 US TREASURY NOTE	AT COST	24,965	25,083
404280AN9 HSBC HOLDING PLC 4.0	AT COST	15,103	15,195
864159108 STURM RUGER & CO INC	AT COST	3,113	7,025
50540R409 LABORATORY CRP OF AM	AT COST	6,247	8,719
17275R102 CISCO SYSTEMS INC	AT COST	18,130	17,635
231021106 CUMMINS INC.	AT COST	17,086	13,498
00846U101 AGILENT TECHNOLOGIES	AT COST	16,209	16,798
447011107 HUNTSMAN CORP	AT COST	18,001	11,381
18946Q101 CLP HOLDINGS LIMITED	AT COST	14,003	15,196
009126202 AIR LIQUIDE ADR	AT COST	4,302	4,293
502441306 LVMH MOET HENNESSY U	AT COST	3,310	3,391
48241F104 KBC GROEP NV-UNSP AD	AT COST	7,594	7,798
756255204 RECKITT BENCKIS/S AD	AT COST	4,913	7,535
23381B106 DAIKIN INDUSTRIES-UN	AT COST	8,323	12,934
06367T7H7 BANK OF MONTREAL	AT COST	14,993	14,992
9128283W8 US TREASURY NOTE	AT COST	14,828	15,077
126650DC1 CVS HEALTH CORP	AT COST	19,982	19,943
9128284F4 US TREASURY NOTE	AT COST	24,545	25,074
912828M56 US TREASURY NOTE	AT COST	24,364	24,448
912828N30 US TREASURY NOTE	AT COST	44,929	44,366
437076BM3 HOME DEPOT INC	AT COST	25,344	24,216
172967LQ2 CITIGROUP INC	AT COST	24,598	24,099
912828F21 US TREASURY NOTE 2.1	AT COST	45,581	44,573
26078JAA8 DOWDUPONT INC	AT COST	10,016	10,096
38148LAE6 GOLDMAN SACHS GROUP	AT COST	15,209	14,352
912828XQ8 US TREASURY NOTE	AT COST	24,249	24,588
06051GEC9 BANK OF AMERICA CORP	AT COST	5,765	5,169
05567LT31 BNP PARIBAS 5.000% 1	AT COST	20,994	20,695
92532W103 VERSUM MATERIALS INC	AT COST	11,622	8,565
57686G105 MATSON INC.	AT COST	3,066	5,668
032095101 AMPHENOL CORP NEW	AT COST	3,623	7,373
14040HBP9 CAPITAL ONE FINANCIA	AT COST	9,869	9,871
483548103 KAMAN CORPCOMMON	AT COST	6,619	10,433
55262C100 MBIA INC	AT COST	3,794	4,745
171484108 CHURCHILL DOWNS INC	AT COST	7,688	7,074
741511109 PRICESMART INC	AT COST	2,180	6,501
110448107 BRITISH AMERICAN TOB	AT COST	14,782	9,303
501173207 KUBOTA LIMITED - ADR	AT COST	12,823	12,117
48667L106 KDDI CORP-UNSPONSORE	AT COST	6,868	10,310
87873R101 TECHTRONIC INDUSTRIE	AT COST	5,525	7,901
92937A102 WPP PLC NEW	AT COST	10,047	5,096
913017BV0 UNITED TECHNOLOGIES	AT COST	25,483	24,481
680665205 OLIN CORP 1 COM & 1	AT COST	2,295	1,850
G9618E107 WHITE MTNS INS GROUP	AT COST	4,245	9,435
45688C107 INGEVITY CORP	AT COST	8,834	12,135
04247X102 ARMSTRONG WORLD INDU	AT COST	7,285	10,245
014491104 ALEXANDER & BALDWIN	AT COST	10,993	8,455
608190104 MOHAWK INDS INC COM	AT COST	9,321	6,784
22822V101 CROWN CASTLE INTL CO	AT COST	5,709	7,604
018581108 ALLIANCE DATA SYS CO	AT COST	5,751	3,752
143130102 CARMAX INC	AT COST	6,938	10,915
12514G108 CDW CORP/DE	AT COST	2,920	8,429
002824100 ABBOTT LABORATORIES	AT COST	17,335	22,712
03820C105 APPLIED INDL TECHNOL	AT COST	18,894	14,132
91913Y100 VALERO ENERGY CORP	AT COST	11,054	14,469
29261A100 ENCOMPASS HEALTH COR	AT COST	19,957	15,610
02079K107 ALPHABET INC/CA	AT COST	12,326	17,605
55616P104 MACY'S INC	AT COST	18,006	17,034
00287Y109 ABBVIE INC	AT COST	18,323	14,843
010199305 AKZO NOBEL N V ADR	AT COST	9,183	15,129
433578507 HITACHI LIMITED - AD	AT COST	8,940	6,461
641069406 NESTLE S.A. REGISTER	AT COST	10,931	15,868
59156RBH0 METLIFE INC 3.600% 4	AT COST	20,659	20,138
961214DW0 WESTPAC BANKING CORP	AT COST	19,320	19,276
83404D109 SOFTBANK CORP-UNSPON	AT COST	8,081	8,117
02263T104 AMADEUS IT HOLDING-U	AT COST	8,264	12,183
912828NT3 US TREASURY NOTE 2.6	AT COST	30,612	30,042
742718DY2 PROCTER & GAMBLE CO/	AT COST	23,301	24,612
037833AK6 APPLE INC 2.400% 5/0	AT COST	24,200	24,173
817565104 SERVICE CORP INTL	AT COST	728	3,503
903293405 USG CORP COM NEW	AT COST	9,131	14,334
90539J109 UNION BANKSHARES COR	AT COST	9,521	7,086
70959W103 PENSKE AUTO GROUP IN	AT COST	11,215	9,435
G0450A105 ARCH CAPITAL GROUP L	AT COST	10,612	13,975
530307305 LIBERTY BROADBAND CO	AT COST	9,730	11,957
30231G102 EXXON MOBIL CORPORAT	AT COST	11,785	10,910
15135B101 CENTENE CORP DEL	AT COST	7,102	17,295
64110D104 NETAPP INC	AT COST	11,963	20,109
072730302 BAYER A G SPONSORED	AT COST	12,625	11,456
29250N105 ENBRIDGE INC	AT COST	7,981	5,936
989825104 ZURICH INSURANCE GRO	AT COST	12,995	13,144
46625HHU7 JPMORGAN CHASE & CO	AT COST	27,245	25,451
86562MAQ3 SUMITOMO MITSUI FINL	AT COST	19,297	19,488
278265103 EATON VANCE CORP COM	AT COST	3,118	4,714
894650100 TREDEGAR CORPORATION	AT COST	2,488	2,506
879080109 TEJON RANCH CO	AT COST	3,242	2,023
116794108 BRUKER CORPORATION	AT COST	3,939	4,287
88023U101 TEMPUR-PEDIC INTL IN	AT COST	4,431	4,140
50189K103 LCI INDUSTRIES	AT COST	5,508	4,008
228368106 CROWN HLDGS INC	AT COST	4,807	5,487
339750101 FLOOR & DECOR HOLDIN	AT COST	3,714	3,419
G5480U120 LIBERTY GLOBAL PLC-S	AT COST	4,930	4,768
466313103 JABIL CIRCUIT INC CO	AT COST	12,718	13,610

Description	Amount
PY RETURN OF CAPITAL ADJUSTMENT	133
COST BASIS ADJUSTMENT	348
PURCHASE OF ACCRUED INTEREST C/O	484

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
OTHER EXPENSE (NON-DEDUCTIBLE	48	0		48
INVESTMENT EXPENSES-DIVIDEND I	677	677		0

Description	Revenue And Expenses Per Books	Net Investment Income	Adjusted Net Income
FEDERAL TAX REFUND	1	0
ANNUITIES FROM NONQUALIFIED PLANS (SECTI	31	31

Category	Amount	Net Investment Income
FOREIGN TAXES	1,971	1,971
FEDERAL TAX PAYMENT - PRIOR YE	2,433	0
FEDERAL ESTIMATES - PRINCIPAL	3,024	0