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
PARSEN EM CHAR TUA-MAIN

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

26-3503674

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

$11,299,481J 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...	304,732		291,667
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		431,184
b	Gross sales price for all assets on line 6a 3,420,710
7	Capital gain net income (from Part IV, line 2)...			431,184
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).......		4,803
12	Total. Add lines 1 through 11........	740,719		722,851
13	Compensation of officers, directors, trustees, etc.	115,455		86,591		28,864
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).......		1,159	0	0	1,159
c	Other professional fees (attach schedule)....					0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		27,304	6,021		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).......		1,096	1,092		4
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	145,014		93,704	0	30,027
25	Contributions, gifts, grants paid.......	566,924				566,924
26	Total expenses and disbursements. Add lines 24 and 25	711,938		93,704	0	596,951
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	28,781
b	Net investment income (if negative, enter -0-)			629,147
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.........	113,154	234,147	234,147
	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)..........	10,898,315	10,808,324	11,065,334
	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)	11,011,469	11,042,471	11,299,481
	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........	11,011,469	11,042,471
	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).....	11,011,469	11,042,471
	31	Total liabilities and net assets/fund balances (see instructions).	11,011,469	11,042,471

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) ...............

11,011,469

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

28,781

Other increases not included in line 2 (itemize) bullet

7,330

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

11,047,580

Decreases not included in line 2 (itemize) bullet

5,109

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

11,042,471

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	37. SENIOR HOUSING PROP TRUST		2016-06-15	2018-01-04
b	25000. US TREASURY NOTE 1.500% 8/31/18		2016-12-27	2018-01-10
c	10. SAUL CTRS INC COM		2016-06-15	2018-01-19
d	143. AMERIPRISE FINL INC		2015-07-28	2018-01-25
e	32. BOEING CO		2014-08-06	2018-01-25
	110. SPIRIT AEROSYTSEMS HOLD-CL A		2016-10-03	2018-01-25
	8. BOSTON PROPERTIES INC COM		2016-06-15	2018-01-31
	258. NEWELL RUBBERMAID INC		2017-02-09	2018-01-31
	2. AMAZON COM INC COM		2017-11-30	2018-02-09
	8. NETFLIX.COM INC		2017-08-23	2018-02-09
	23. APPLE INC		2009-12-04	2018-02-14
	86. CISCO SYSTEMS INC		2014-05-14	2018-02-14
	46. COGNIZANT TECH SOLUTIONS CRP COM		2016-03-16	2018-02-14
	32. JPMORGAN CHASE & CO		2014-05-14	2018-02-14
	40. MICROSOFT CORP		2016-10-03	2018-02-14
	16. UNITEDHEALTH GROUP INC		2014-05-14	2018-02-14
	43. EATON CORP PLC		2014-05-14	2018-02-14
	91.44 FHLMC POOL G03941 6.000% 2/01/38		2010-10-13	2018-02-15
	16. DUKE REALTY CORPORATION		2016-10-25	2018-02-23
	27. DUKE REALTY CORPORATION		2018-01-04	2018-02-23
	1052.87 FNMA POOL #AL8387 4.000% 4/01/46		2018-01-09	2018-02-25
	105.93 FNMA POOL #AN3336 2.280% 11/01/26		2017-04-06	2018-02-25
	56.03 FNMA POOL 890277 6.000% 9/01/39		2011-04-19	2018-02-25
	76.98 FNMA POOL 959451 6.000% 12/01/37		2010-12-07	2018-02-25
	8. INTERXION HOLDING NV		2017-11-16	2018-02-26
	24417.92 FNMA POOL #AN3336 2.280% 11/01/26		2017-04-06	2018-03-02
	140. CISCO SYSTEMS INC		2014-05-14	2018-03-06
	58. SCHLUMBERGER LTD		2018-01-25	2018-03-06
	53. UNITEDHEALTH GROUP INC		2014-05-14	2018-03-06
	156. BLUE BUFFALO PET PRODUCTS INC		2017-03-08	2018-03-13
	3. BLUE BUFFALO PET PRODUCTS INC		2017-08-23	2018-03-13
	11. MICROSOFT CORP		2017-02-09	2018-03-13
	8. NETFLIX.COM INC		2017-06-05	2018-03-13
	33. XPO LOGISTICS INC		2017-06-05	2018-03-13
	722.022 ABERDEEN EMERG MARKETS-INST 840		2017-11-09	2018-03-15
	19. AFFILIATED MANAGERS GROUP, INC COM		2014-05-14	2018-03-15
	6. ALPHABET INC/CA		2014-04-25	2018-03-15
	23. APPLE INC		2009-12-04	2018-03-15
	289.603 ARTISAN INTERNATIONAL FD INS #662		2017-11-09	2018-03-15
	18. BERSHIRE HATHAWAY INC.		2014-05-14	2018-03-15
	7. BLACKROCK INC		2014-06-06	2018-03-15
	54. CVS HEALTH CORPORATION		2018-01-25	2018-03-15
	34. CELANESE CORP		2015-01-28	2018-03-15
	110. CISCO SYSTEMS INC		2014-05-14	2018-03-15
	54. CITIGROUP INC		2014-05-14	2018-03-15
	99. COMCAST CORP CLASS A		2014-05-14	2018-03-15
	27. DIAGEO PLC - ADR		2013-01-23	2018-03-15
	35. WALT DISNEY CO		2014-05-14	2018-03-15
	62.59 FHLMC POOL G03941 6.000% 2/01/38		2010-10-13	2018-03-15
	44. GILEAD SCIENCES INC		2017-03-24	2018-03-15
	532.814 HARBOR CAPITAL APRCTION-INST #2012		2016-09-01	2018-03-15
	280. ISHARES RUSSELL 2000 VALUE ETF		2014-05-14	2018-03-15
	240. ISHARES RUSSELL 2000 GROWTH ETF		2014-05-14	2018-03-15
	275. ISHARES CORE MSCI EMERGING		2017-11-09	2018-03-15
	49. LAS VEGAS SANDS CORP		2014-09-10	2018-03-15
	20. ELI LILLY & CO COM		2016-10-03	2018-03-15
	191. MANULIFE FINANCIAL CORP		2015-12-18	2018-03-15
	23. MCKESSON CORP		2014-05-14	2018-03-15
	65. MERCK & CO INC NEW		2016-04-22	2018-03-15
	52. MICROSOFT CORP		2016-04-22	2018-03-15
	56. NIKE INC CL B		2017-11-15	2018-03-15
	26. PNC FINANCIAL SERVICES GROUP		2015-05-27	2018-03-15
	130. ROCHE HOLDINGS LTD - ADR		2015-03-03	2018-03-15
	114. SUNCOR ENERGY INC NEW F		2015-07-08	2018-03-15
	51. TARGET CORP		2014-05-14	2018-03-15
	17. THERMO FISHER SCIENTIFIC INC		2014-05-14	2018-03-15
	98. TOTAL S.A. - ADR		2012-08-27	2018-03-15
	34. UNION PACIFIC CORP		2014-05-14	2018-03-15
	33. UNITED PARCEL SERVICE-CL B		2014-06-05	2018-03-15
	17. UNITEDHEALTH GROUP INC		2014-05-14	2018-03-15
	43. ZOETIS INC		2017-04-25	2018-03-15
	196. UBS GROUP AG		2018-01-25	2018-03-15
	37. TE CONNECTIVITY LTD		2016-11-08	2018-03-15
	75000. BERKSHIRE HATHAWAY 3.125% 3/15/26		2017-01-19	2018-03-16
	1096.491 FID ADV EMER MKTS INC- CL I 607		2016-08-19	2018-03-16
	50000. JPMORGAN CHASE & CO 2.700% 5/18/23		2016-05-12	2018-03-16
	3424.658 JPMORGAN HIGH YIELD FUND SS 3580		2017-04-06	2018-03-16
	3.968 T ROWE PRICE INST FLOAT RATE 170		2016-04-12	2018-03-16
	994.036 T ROWE PRICE INST FLOAT RATE 170		2017-04-06	2018-03-16
	50000. US TREASURY NOTE 1.500% 8/31/18		2016-12-27	2018-03-16
	40000. US TREASURY NOTE 1.750% 11/15/26		2017-04-07	2018-03-16
	75000. CALIFORNIA ST HSG FI 2.039% 2/01/20		2016-06-22	2018-03-19
	50000. LOS ANGELES CNTY CA 3.180% 12/01/21		2015-08-13	2018-03-19
	25000. PEMBROKE PINES FL CO 3.933% 10/01/20		2013-09-12	2018-03-19
	840.36 FNMA POOL #AL8387 4.000% 4/01/46		2018-01-09	2018-03-25
	130.45 FNMA POOL #AN3336 2.280% 11/01/26		2017-04-06	2018-03-25
	29.1 FNMA POOL 890277 6.000% 9/01/39		2011-04-19	2018-03-25
	74.14 FNMA POOL 959451 6.000% 12/01/37		2010-12-07	2018-03-25
	545. ISHARES RUSSELL MIDCAP VALUE		2017-05-18	2018-03-26
	2380. ISHARES RUSSELL MIDCAP VALUE		2014-05-14	2018-03-26
	2295. ISHARES TR RUSSELL MIDCAP GROWTH		2014-05-14	2018-03-26
	16. ESTEE LAUDER COMPANIES INC		2017-02-09	2018-04-04
	14. PALO ALTO NETWORKS INC		2017-02-09	2018-04-04
	106. STARBUCKS CORP COM		2017-02-09	2018-04-04
	15. BROWN FORMAN CORP CL B		2018-03-26	2018-04-05
	15. FIDELITY NATL INFORMATION SVCS INC		2018-03-26	2018-04-05
	45. FOREST CITY REALTY TRUST-A		2018-03-26	2018-04-05
	21. LEUCADIA NATL CORP COM		2018-03-26	2018-04-05
	33. LOEWS CORP		2018-03-26	2018-04-05
	36. AXALTA COATING SYSTEMS LTD		2018-03-26	2018-04-05
	212. AFFILIATED MANAGERS GROUP, INC COM		2014-05-14	2018-04-10
	255.49 FHLMC POOL G03941 6.000% 2/01/38		2010-10-13	2018-04-15
	27. FOREST CITY REALTY TRUST-A		2018-03-26	2018-04-17
	31. LOEWS CORP		2018-03-26	2018-04-17
	16. MACQUARIE INFRASTRUCTURE COMPANY LLC		2018-03-26	2018-04-17
	12. AXALTA COATING SYSTEMS LTD		2018-03-26	2018-04-18
	8. WHITE MTNS INS GROUP		2018-03-26	2018-04-18
	5. AMERICAN TOWER REIT		2016-06-15	2018-04-19
	94. HOST HOTELS & RESORTS, INC.		2016-11-25	2018-04-19
	25. HUDSON PACIFIC PROPERTIES INC		2017-01-27	2018-04-19
	7. SL GREEN REALTY CORP COM		2016-06-15	2018-04-19
	33. STORE CAPITAL CORP		2016-06-15	2018-04-19
	8. INTERXION HOLDING NV		2017-11-16	2018-04-19
	888.73 FNMA POOL #AL8387 4.000% 4/01/46		2018-01-09	2018-04-25
	71.16 FNMA POOL #AN3336 2.280% 11/01/26		2017-04-06	2018-04-25
	37.97 FNMA POOL 890277 6.000% 9/01/39		2011-04-19	2018-04-25
	39.35 FNMA POOL 959451 6.000% 12/01/37		2010-12-07	2018-04-25
	15. AUTOHOME INC-ADR		2018-03-28	2018-05-03
	22. AUTOHOME INC-ADR		2018-03-28	2018-05-08
	28. HOME DEPOT INC		2017-02-09	2018-05-08
	15. PPG INDUSTRIES INC		2017-02-09	2018-05-08
	16. PPG INDUSTRIES INC		2018-01-31	2018-05-08
	33. DOLLAR TREE INC		2018-03-26	2018-05-10
	7. ECOLAB INC		2018-03-26	2018-05-10
	12. FIDELITY NATL INFORMATION SVCS INC		2018-03-26	2018-05-10
	12. INTUIT COM		2018-03-26	2018-05-10
	45. LOEWS CORP		2018-03-26	2018-05-10
	8. M & T BANK CORPORATION COM		2018-03-26	2018-05-10
	55. MACQUARIE INFRASTRUCTURE COMPANY LLC		2018-03-26	2018-05-10
	8. AON PLC		2018-03-26	2018-05-10
	75.5 FHLMC POOL G03941 6.000% 2/01/38		2010-10-13	2018-05-15
	14. DUKE REALTY CORPORATION		2016-10-05	2018-05-16
	5. INTERXION HOLDING NV		2016-06-15	2018-05-16
	8. INTERXION HOLDING NV		2017-11-16	2018-05-16
	.5 DDR CORP		2017-03-15	2018-05-25
	12. DOLLAR TREE INC		2018-03-26	2018-05-25
	1018.38 FNMA POOL #AL8387 4.000% 4/01/46		2018-01-09	2018-05-25
	76.75 FNMA POOL #AN3336 2.280% 11/01/26		2017-04-06	2018-05-25
	62.56 FNMA POOL 890277 6.000% 9/01/39		2011-04-19	2018-05-25
	81.12 FNMA POOL 959451 6.000% 12/01/37		2010-12-07	2018-05-25
	8. FIDELITY NATL INFORMATION SVCS INC		2018-03-26	2018-05-25
	14. INTUIT COM		2018-03-26	2018-05-25
	24. LIBERTY BROADBAND CORP		2018-03-26	2018-05-25
	14. AON PLC		2018-03-26	2018-05-25
	51.18 FHLMC POOL G03941 6.000% 2/01/38		2010-10-13	2018-06-15
	.6 SPIRIT MTA REIT		2018-05-31	2018-06-15
	2. EQUINIX INC		2017-05-12	2018-06-19
	3. ESSEX PPTY TR COM		2016-07-06	2018-06-19
	84. PHYSICIANS REALTY TRUST		2016-06-15	2018-06-19
	7. REGENCY CENTERS CORP		2016-06-15	2018-06-19
	3. SIMON PROPERTY GROUP INC		2016-06-15	2018-06-19
	37. STORE CAPITAL CORP		2016-06-15	2018-06-19
	4. SUN CMNTYS INC COM		2018-01-31	2018-06-19
	53. DOLLAR TREE INC		2018-03-26	2018-06-22
	6. ECOLAB INC		2018-03-26	2018-06-22
	15. FIDELITY NATL INFORMATION SVCS INC		2018-03-26	2018-06-22
	7. INTUIT COM		2018-03-26	2018-06-22
	11. LOEWS CORP		2018-03-26	2018-06-22
	23. AON PLC		2018-03-26	2018-06-22
	1001.48 FNMA POOL #AL8387 4.000% 4/01/46		2018-01-09	2018-06-25
	71.66 FNMA POOL #AN3336 2.280% 11/01/26		2017-04-06	2018-06-25
	31.34 FNMA POOL 890277 6.000% 9/01/39		2011-04-19	2018-06-25
	5.05 FNMA POOL 959451 6.000% 12/01/37		2010-12-07	2018-06-25
	21000. CALIFORNIA ST EARTHQ 2.805% 7/01/19		2014-10-29	2018-07-01
	189. BAYER AG ADR- RIGHTS DEEMED 7/15/18		2016-12-09	2018-07-02
	3245.625 WF ULTR SHORT-TRMINCOME-I#3104		2014-09-08	2018-07-02
	11. ALEXANDRIA REAL ESTATE EQUITIES		2018-06-19	2018-07-10
	570. COMCAST CORP CLASS A		2014-05-14	2018-07-12
	1. AMAZON COM INC COM		2017-02-09	2018-07-13
	7. NETFLIX.COM INC		2017-06-05	2018-07-13
	13.27 FHLMC POOL G03941 6.000% 2/01/38		2010-10-13	2018-07-15
	151. MCKESSON CORP		2014-05-14	2018-07-17
	19. ESTEE LAUDER COMPANIES INC		2017-02-09	2018-07-18
	12. PALO ALTO NETWORKS INC		2017-02-09	2018-07-18
	16. SALESFORCE COM INC		2017-02-09	2018-07-18
	.1 RETAIL VALUE INC		2018-07-02	2018-07-19
	7. AMERICAN TOWER REIT		2016-06-15	2018-07-23
	3. AMERICAN TOWER REIT		2018-05-16	2018-07-23
	11. HILTON WORLDWIDE HOLDINGS IN		2017-01-24	2018-07-23
	7.99203 HILTON WORLDWIDE HOLDINGS IN		2018-04-19	2018-07-23
	9.00797 HILTON WORLDWIDE HOLDINGS IN		2018-04-19	2018-07-23
	3. SIMON PROPERTY GROUP INC		2016-06-15	2018-07-23
	66. APPLE INC		2009-12-04	2018-07-24
	111. MICROSOFT CORP		2015-08-10	2018-07-24
	930.31 FNMA POOL #AL8387 4.000% 4/01/46		2018-01-09	2018-07-25
	77.24 FNMA POOL #AN3336 2.280% 11/01/26		2017-04-06	2018-07-25
	68.39 FNMA POOL 890277 6.000% 9/01/39		2011-04-19	2018-07-25
	5.07 FNMA POOL 959451 6.000% 12/01/37		2010-12-07	2018-07-25
	11. INTERXION HOLDING NV		2016-06-15	2018-07-25
	18. AIR PRODS & CHEMS INC COM		2018-03-26	2018-07-26
	8. ECOLAB INC		2018-03-26	2018-07-26
	15. FIDELITY NATL INFORMATION SVCS INC		2018-03-26	2018-07-26
	9. INTUIT COM		2018-03-26	2018-07-26
	19. ROSS STORES INC		2018-03-26	2018-07-26
	7. S&P GLOBAL INC		2018-03-26	2018-07-26
	7. AON PLC		2018-03-26	2018-07-26
	756. BAYER AG - ADR		2016-12-09	2018-07-30
	208. ABAXIS INC		2018-03-28	2018-07-31
	16. AUTODESK INC		2018-03-26	2018-08-01
	91. DDR CORP		2017-03-15	2018-08-01
	88. DUKE REALTY CORPORATION		2016-06-15	2018-08-01
	13. FIDELITY NATL INFORMATION SVCS INC		2018-03-26	2018-08-01
	12. MOODYS CORP		2018-03-26	2018-08-01
	3. PUBLIC STORAGE INC COM		2016-06-15	2018-08-01
	32. ROSS STORES INC		2018-03-26	2018-08-01
	8. S&P GLOBAL INC		2018-03-26	2018-08-01
	21. WEYERHAEUSER CO		2017-10-17	2018-08-01
	8. AON PLC		2018-03-26	2018-08-01
	5563.124 COHEN & STEERS INSTL RLTY SHRS 1263		2017-01-05	2018-08-07
	238. CITIGROUP INC		2014-05-14	2018-08-08
	2189.69 HARBOR CAPITAL APRCTION-INST #2012		2016-09-01	2018-08-08
	105. ISHARES RUSSELL MIDCAP VALUE		2014-05-14	2018-08-08
	110. ISHARES TR RUSSELL MIDCAP GROWTH		2014-05-14	2018-08-08
	4275. SPDR DJ WILSHIRE INTERNATIONAL REAL		2009-10-13	2018-08-08
	1890. VANGUARD REIT VIPER		2009-12-03	2018-08-08
	275. VANGUARD REIT VIPER		2018-03-15	2018-08-08
	12. KILROY REALTY CORP COM		2016-11-25	2018-08-09
	9. RETAIL VALUE INC		2018-07-02	2018-08-09
	18. TANGER FACTORY OUTLET CTR		2016-06-15	2018-08-09
	9. AIR PRODS & CHEMS INC COM		2018-03-26	2018-08-14
	1. AMERCO		2018-03-26	2018-08-14
	5. ANSYS INC		2018-06-22	2018-08-14
	12. AUTODESK INC		2018-03-26	2018-08-14
	26. BLACK KNIGHT INC		2018-05-10	2018-08-14
	87. BROOKFIELD ASSET MANAGE-CL A		2018-03-26	2018-08-14
	28. BROWN & BROWN INC		2018-05-10	2018-08-14
	5. BROWN FORMAN CORP CL B		2018-03-26	2018-08-14
	29. CBRE GROUP INC		2018-03-26	2018-08-14
	5. CDK GLOBAL INC		2018-07-26	2018-08-14
	32. CARMAX INC		2018-03-26	2018-08-14
	26. COLFAX CORPORATION		2018-03-26	2018-08-14
	21. COPART INC COM		2018-03-26	2018-08-14
	20. DENTSPLY SIRONA INC		2018-03-26	2018-08-14
	9. DOLLAR GENERAL CORP		2018-06-22	2018-08-14
	3. ECHOSTAR CORPORATION		2018-03-26	2018-08-14
	1. EQUINIX INC		2018-03-26	2018-08-14
	8. FASTENAL CO		2018-03-26	2018-08-14
	38. FNF GROUP		2018-03-26	2018-08-14
	14. FIRST REPUBLIC BANK/SAN FRANCI		2018-06-22	2018-08-14
	10. FOREST CITY REALTY TRUST-A		2018-03-26	2018-08-14
	12. GCI LIBERTY INC		2018-03-26	2018-08-14
	16. GARTNER INC		2018-05-10	2018-08-14
	3. HD SUPPLY HOLDINGS INC		2018-03-26	2018-08-14
	1. HEICO CORP CL A		2018-07-26	2018-08-14
	9.00033 HILTON WORLDWIDE HOLDINGS IN		2018-05-10	2018-08-14
	7.99967 HILTON WORLDWIDE HOLDINGS IN		2018-05-10	2018-08-14
	4. HOWARD HUGHES CORP/THE		2018-03-26	2018-08-14
	1. IDEXX CORP		2018-08-01	2018-08-14
	1109. ISHARES TIPS BOND ETF		2016-04-12	2018-08-14
	8. KAR AUCTION SERVICES INC		2018-08-01	2018-08-14
	7. KENNEDY-WILSON HOLDINGS INC		2018-07-26	2018-08-14
	13. LENNAR CORPORATION CLASS A COMMON		2018-03-26	2018-08-14
	4. LIBERTY BROADBAND CORP		2018-03-26	2018-08-14
	6. LIBERTY BROADBAND CORP		2018-03-26	2018-08-14
	8. LIBERTY EXPEDIA HOLDINGS INC		2018-03-26	2018-08-14
	6. LIBERTY SIRIUSXM GROUP		2018-03-26	2018-08-14
	13. LIBERTY SIRIUSXM GROUP		2018-03-26	2018-08-14
	26. LIBERTY MEDIA GROUP		2018-03-26	2018-08-14
	2. LIBERTY MEDIA GROUP		2018-03-26	2018-08-14
	3. M & T BANK CORPORATION COM		2018-03-26	2018-08-14
	3. MSCI INC		2018-07-26	2018-08-14
	2. MARKEL HOLDINGS		2018-03-26	2018-08-14
	7. MARTIN MARIETTA MATLS INC COM		2018-03-26	2018-08-14
	1. METTLER-TOLEDO INTL INC		2018-06-22	2018-08-14
	8. MICROCHIP TECHNOLOGY INC COM		2018-03-26	2018-08-14
	3. MOHAWK INDS INC COM		2018-03-26	2018-08-14
	12. MOODYS CORP		2018-03-26	2018-08-14
	3. MOTOROLA SOLUTIONS, INC.		2018-03-26	2018-08-14
	9. O'REILLY AUTOMOTIVE INC		2018-03-26	2018-08-14
	15. PROGRESSIVE CORP OHIO		2018-05-10	2018-08-14
	34. RESTAURANT BRANDS INTERN		2018-03-26	2018-08-14
	6. ROPER TECHNOLOGIES INC		2018-03-26	2018-08-14
	16. ROSS STORES INC		2018-03-26	2018-08-14
	8. S&P GLOBAL INC		2018-03-26	2018-08-14
	15. SBA COMMUNICATIONS CORP		2018-03-26	2018-08-14
	3. SHERWIN WILLIAMS CO		2018-03-26	2018-08-14
	8. TRANSDIGM GROUP INC		2018-03-26	2018-08-14
	16. TRANSUNION		2018-07-26	2018-08-14
	2. VAIL RESORTS INC COM		2018-06-22	2018-08-14
	9. VERISIGN INC COM		2018-03-26	2018-08-14
	14. VERISK ANALYTICS INC		2018-03-26	2018-08-14
	8. VULCAN MATERIALS COMPANY		2018-05-10	2018-08-14
	10. AON PLC		2018-03-26	2018-08-14
	33. ARCH CAPITAL GROUP LTD		2018-07-26	2018-08-14
	25. IHS MARKIT LTD		2018-03-26	2018-08-14
	9. LIBERTY GLOBAL PLC-A		2018-03-26	2018-08-14
	18. LIBERTY GLOBAL PLC-SERIES C		2018-03-26	2018-08-14
	45.37 FHLMC POOL G03941 6.000% 2/01/38		2010-10-13	2018-08-15
	6. AIR PRODS & CHEMS INC COM		2018-03-26	2018-08-17
	7. MOODYS CORP		2018-03-26	2018-08-17
	7. ROPER TECHNOLOGIES INC		2018-03-26	2018-08-17
	7. SHERWIN WILLIAMS CO		2018-03-26	2018-08-17
	12411.348 WF ULTR SHORT-TRMINCOME-I#3104		2018-08-14	2018-08-17
	7. AON PLC		2018-03-26	2018-08-17
	7. O'REILLY AUTOMOTIVE INC		2017-02-09	2018-08-21
	860.02 FNMA POOL #AL8387 4.000% 4/01/46		2018-01-09	2018-08-25
	72.17 FNMA POOL #AN3336 2.280% 11/01/26		2017-04-06	2018-08-25
	26.47 FNMA POOL 890277 6.000% 9/01/39		2011-04-19	2018-08-25
	47.24 FNMA POOL 959451 6.000% 12/01/37		2010-12-07	2018-08-25
	.68 PROLOGIS INC		2018-08-01	2018-08-28
	12411.347 WF ULTR SHORT-TRMINCOME-I#3104		2018-08-14	2018-08-28
	7. AIR PRODS & CHEMS INC COM		2018-03-26	2018-08-29
	7. MOODYS CORP		2018-03-26	2018-08-29
	13. ROSS STORES INC		2018-03-26	2018-08-29
	7. S&P GLOBAL INC		2018-03-26	2018-08-29
	4. SL GREEN REALTY CORP COM		2016-06-15	2018-08-29
	69. GGP INC		2016-06-15	2018-08-30
	100000. US TREASURY NOTE 1.500% 8/31/18		2016-12-27	2018-08-31
	75000. ORACLE CORP 5.000% 7/08/19		2013-11-15	2018-09-04
	.75 RIGHTMOVE PLC-UNSP ADR		2018-04-12	2018-09-10
	74. CELGENE CORP COM		2017-02-09	2018-09-12
	110. HALLIBURTON CO		2017-03-08	2018-09-12
	43.59 FHLMC POOL G03941 6.000% 2/01/38		2010-10-13	2018-09-15
	6. AUTODESK INC		2018-03-26	2018-09-17
	31. BROOKFIELD ASSET MANAGE-CL A		2018-03-26	2018-09-17
	32. DENTSPLY SIRONA INC		2018-03-26	2018-09-17
	67. FOREST CITY REALTY TRUST-A		2018-03-26	2018-09-17
	14. MOODYS CORP		2018-03-26	2018-09-17
	16. PROGRESSIVE CORP OHIO		2018-03-26	2018-09-17
	24. SL GREEN REALTY CORP COM		2016-06-15	2018-09-17
	7. SHERWIN WILLIAMS CO		2018-03-26	2018-09-17
	5. SIMON PROPERTY GROUP INC		2016-06-15	2018-09-17
	.944 BROOKFIELD PROPERTY PARTNERS		2018-08-29	2018-09-17
	25. BROOKFIELD PROPERTY PARTNERS		2018-08-29	2018-09-18
	878.24 FNMA POOL #AL8387 4.000% 4/01/46		2018-01-09	2018-09-25
	72.41 FNMA POOL #AN3336 2.280% 11/01/26		2017-04-06	2018-09-25
	79.79 FNMA POOL 890277 6.000% 9/01/39		2011-04-19	2018-09-25
	39.07 FNMA POOL 959451 6.000% 12/01/37		2010-12-07	2018-09-25
	78. BOSTON SCIENTIFIC CORP COM		2017-02-09	2018-10-03
	16. BROOKFIELD ASSET MANAGE-CL A		2018-03-26	2018-10-05
	66. DENTSPLY SIRONA INC		2018-03-26	2018-10-05
	15. MOODYS CORP		2018-03-26	2018-10-05
	9. PROGRESSIVE CORP OHIO		2018-03-26	2018-10-05
	24. ROSS STORES INC		2018-03-26	2018-10-05
	9. AON PLC		2018-03-26	2018-10-05
	3. ESSEX PPTY TR COM		2016-06-15	2018-10-10
	7. HOME DEPOT INC		2017-02-09	2018-10-10
	16. O'REILLY AUTOMOTIVE INC		2017-02-09	2018-10-10
	79. DENTSPLY SIRONA INC		2018-03-26	2018-10-11
	8. SHERWIN WILLIAMS CO		2018-03-26	2018-10-11
	34.62 FHLMC POOL G03941 6.000% 2/01/38		2010-10-13	2018-10-15
	28. REALTY INCOME CORP COM		2018-08-01	2018-10-24
	807.7 FNMA POOL #AL8387 4.000% 4/01/46		2018-01-09	2018-10-25
	77.97 FNMA POOL #AN3336 2.280% 11/01/26		2017-04-06	2018-10-25
	17.51 FNMA POOL 890277 6.000% 9/01/39		2011-04-19	2018-10-25
	42.44 FNMA POOL 959451 6.000% 12/01/37		2010-12-07	2018-10-25
	23. SL GREEN REALTY CORP COM		2016-06-15	2018-10-26
	19. EXTRA SPACE STORAGE INC		2018-10-26	2018-11-02
	5. AMERICAN TOWER REIT		2016-06-15	2018-11-15
	8. AUTODESK INC		2018-03-26	2018-11-15
	33. BROOKFIELD ASSET MANAGE-CL A		2018-03-26	2018-11-15
	73.48 FHLMC POOL G03941 6.000% 2/01/38		2010-10-13	2018-11-15
	13. LIBERTY EXPEDIA HOLDINGS INC		2018-03-26	2018-11-15
	33. ROSS STORES INC		2018-03-26	2018-11-15
	7. S&P GLOBAL INC		2018-03-26	2018-11-15
	17. SIMON PROPERTY GROUP INC		2016-06-15	2018-11-15
	34. SPIRIT MTA REIT		2018-05-31	2018-11-15
	7. AON PLC		2018-03-26	2018-11-15
	72. WALT DISNEY CO		2018-03-13	2018-11-21
	45. PPG INDUSTRIES INC		2017-02-09	2018-11-21
	116. SMITH A O CORP CL B		2017-08-23	2018-11-21
	29. VISA INC-CLASS A SHRS		2017-02-09	2018-11-21
	781.31 FNMA POOL #AL8387 4.000% 4/01/46		2018-01-09	2018-11-25
	72.93 FNMA POOL #AN3336 2.280% 11/01/26		2017-04-06	2018-11-25
	28.47 FNMA POOL 890277 6.000% 9/01/39		2011-04-19	2018-11-25
	122.48 FNMA POOL 959451 6.000% 12/01/37		2010-12-07	2018-11-25
	7. SIMON PROPERTY GROUP INC		2016-06-15	2018-11-27
	23. STORE CAPITAL CORP		2018-08-01	2018-11-27
	241. CISCO SYSTEMS INC		2014-05-14	2018-12-03
	516. MANULIFE FINANCIAL CORP		2015-12-18	2018-12-03
	81. PNC FINANCIAL SERVICES GROUP		2015-05-27	2018-12-03
	573. SCHLUMBERGER LTD		2009-12-04	2018-12-03
	83. SCHLUMBERGER LTD		2018-01-25	2018-12-03
	131. TJX COMPANIES INC		2014-09-24	2018-12-03
	80. UNION PACIFIC CORP		2014-05-14	2018-12-03
	5. CROWN CASTLE INTL CORP		2018-02-23	2018-12-07
	74.73 FHLMC POOL G03941 6.000% 2/01/38		2010-10-13	2018-12-15
	3. CROWN CASTLE INTL CORP		2016-06-15	2018-12-17
	5. CROWN CASTLE INTL CORP		2018-05-16	2018-12-17
	36. INVITATION HOMES INC		2017-09-05	2018-12-17
	21. COLFAX CORPORATION		2018-03-26	2018-12-20
	6. DOLLAR GENERAL CORP		2018-06-22	2018-12-20
	10. MOHAWK INDS INC COM		2018-03-26	2018-12-20
	5. MOODYS CORP		2018-03-26	2018-12-20
	4. O'REILLY AUTOMOTIVE INC		2018-03-26	2018-12-20
	9. ROPER TECHNOLOGIES INC		2018-03-26	2018-12-20
	27. ROSS STORES INC		2018-03-26	2018-12-20
	9. S&P GLOBAL INC		2018-03-26	2018-12-20
	9. AON PLC		2018-03-26	2018-12-20
	165. AMERIPRISE FINL INC		2015-09-11	2018-12-21
	37. AMERIPRISE FINL INC		2018-08-08	2018-12-21
	228. COMCAST CORP CLASS A		2014-05-14	2018-12-21
	55. NIKE INC CL B		2017-11-15	2018-12-21
	30. CENTENE CORP DEL		2017-02-09	2018-12-24
	.8 SPIRIT REALTY CAPITAL INC		2016-06-15	2018-12-24
	26. WABCO HOLDINGS INC		2017-02-09	2018-12-24
	443.96 FNMA POOL #AL8387 4.000% 4/01/46		2018-01-09	2018-12-25
	78.47 FNMA POOL #AN3336 2.280% 11/01/26		2017-04-06	2018-12-25
	35.85 FNMA POOL 890277 6.000% 9/01/39		2011-04-19	2018-12-25
	35.19 FNMA POOL 959451 6.000% 12/01/37		2010-12-07	2018-12-25
	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	697	696	1
b	24,969	25,127	-158
c	560	577	-17
d	24,721	17,222	7,499
e	10,915	3,784	7,131
	11,043	4,974	6,069
	973	1,020	-47
	6,753	11,056	-4,303
	2,636	2,346	290
	1,959	1,353	606
	3,845	635	3,210
	3,600	1,957	1,643
	3,664	2,709	955
	3,673	1,743	1,930
	3,625	2,301	1,324
	3,655	1,241	2,414
	3,555	2,788	767
	91	99	-8
	404	417	-13
	682	714	-32
	1,053	1,100	-47
	106	102	4
	56	61	-5
	77	84	-7
	456	454	2
	22,838	23,527	-689
	6,194	3,186	3,008
	3,867	4,498	-631
	11,973	4,109	7,864
	6,212	3,796	2,416
	119	78	41
	1,041	706	335
	2,524	1,336	1,188
	3,398	1,918	1,480
	12,000	11,466	534
	3,641	3,666	-25
	6,948	3,086	3,862
	4,138	635	3,503
	10,000	9,603	397
	3,765	2,299	1,466
	3,932	2,197	1,735
	3,576	4,408	-832
	3,618	1,828	1,790
	5,020	2,503	2,517
	3,972	2,560	1,412
	3,587	2,475	1,112
	3,685	3,216	469
	3,641	2,865	776
	63	68	-5
	3,523	2,968	555
	41,000	32,139	8,861
	35,341	27,286	8,055
	47,867	30,515	17,352
	16,456	15,414	1,042
	3,680	3,084	596
	1,593	1,613	-20
	3,577	2,816	761
	3,548	4,112	-564
	3,616	3,689	-73
	4,913	2,871	2,042
	3,717	3,179	538
	4,107	2,495	1,612
	3,782	4,462	-680
	3,675	3,085	590
	3,615	3,030	585
	3,642	1,993	1,649
	5,591	4,864	727
	4,639	3,265	1,374
	3,613	3,416	197
	3,917	1,318	2,599
	3,660	2,371	1,289
	3,604	4,044	-440
	3,878	2,417	1,461
	72,679	74,367	-1,688
	15,000	15,448	-448
	48,178	49,710	-1,532
	25,000	25,512	-512
	40	39	1
	9,960	10,000	-40
	49,902	50,254	-352
	37,402	38,948	-1,546
	74,063	75,000	-937
	50,240	50,000	240
	25,379	25,000	379
	840	878	-38
	130	126	4
	29	32	-3
	74	81	-7
	46,341	44,374	1,967
	202,371	165,482	36,889
	281,530	195,551	85,979
	2,412	1,323	1,089
	2,631	2,174	457
	6,213	5,939	274
	830	801	29
	1,462	1,426	36
	904	901	3
	472	466	6
	1,668	1,635	33
	1,136	1,081	55
	37,562	32,136	5,426
	255	277	-22
	547	541	6
	1,579	1,536	43
	631	583	48
	388	360	28
	6,901	6,518	383
	689	536	153
	1,839	1,649	190
	780	887	-107
	667	703	-36
	815	872	-57
	522	454	68
	889	928	-39
	71	69	2
	38	42	-4
	39	43	-4
	1,377	1,251	126
	2,057	1,835	222
	5,143	3,887	1,256
	1,597	1,505	92
	1,704	1,897	-193
	3,065	3,110	-45
	1,033	934	99
	1,258	1,141	117
	2,327	2,067	260
	2,331	2,229	102
	1,486	1,450	36
	2,145	2,005	140
	1,146	1,110	36
	76	82	-6
	390	363	27
	321	185	136
	514	454	60
	7	13	-6
	1,146	1,131	15
	1,018	1,064	-46
	77	74	3
	63	68	-5
	81	88	-7
	829	761	68
	2,758	2,412	346
	1,706	1,987	-281
	1,988	1,942	46
	51	55	-4
	6	6
	802	871	-69
	695	742	-47
	1,308	1,630	-322
	414	556	-142
	495	614	-119
	985	975	10
	384	353	31
	4,612	4,995	-383
	836	800	36
	1,617	1,426	191
	1,446	1,206	240
	537	545	-8
	3,156	3,191	-35
	1,001	1,046	-45
	72	69	3
	31	34	-3
	5	6	-1
	21,000	21,000
	315		315
	27,393	27,377	16
	1,401	1,388	13
	19,593	14,247	5,346
	1,809	824	985
	2,799	1,155	1,644
	13	14	-1
	20,349	26,413	-6,064
	2,668	1,571	1,097
	2,596	1,864	732
	2,349	1,300	1,049
	3	3
	982	751	231
	421	410	11
	899	645	254
	653	659	-6
	737	743	-6
	510	614	-104
	12,722	1,823	10,899
	11,925	5,730	6,195
	930	972	-42
	77	75	2
	68	75	-7
	5	6	-1
	729	406	323
	2,922	2,872	50
	1,142	1,067	75
	1,638	1,426	212
	1,963	1,550	413
	1,671	1,443	228
	1,488	1,324	164
	1,036	971	65
	20,987	18,693	2,294
	17,264	14,427	2,837
	2,038	2,107	-69
	1,227	2,064	-837
	2,556	2,212	344
	1,338	1,236	102
	2,055	1,929	126
	645	727	-82
	2,766	2,430	336
	1,585	1,513	72
	713	740	-27
	1,139	1,110	29
	242,830	245,000	-2,170
	17,387	11,281	6,106
	175,000	132,082	42,918
	9,507	7,289	2,218
	14,492	9,373	5,119
	168,734	156,035	12,699
	155,915	125,321	30,594
	22,686	20,863	1,823
	862	876	-14
	307	289	18
	429	669	-240
	1,476	1,436	40
	377	341	36
	866	900	-34
	1,613	1,580	33
	1,375	1,355	20
	3,771	3,411	360
	833	770	63
	268	267	1
	1,357	1,332	25
	310	320	-10
	2,332	1,964	368
	820	805	15
	1,251	1,056	195
	780	1,008	-228
	940	904	36
	147	161	-14
	436	406	30
	468	434	34
	1,511	1,552	-41
	1,431	1,407	24
	250	198	52
	582	607	-25
	2,254	2,138	116
	133	112	21
	67	66	1
	686	744	-58
	610	658	-48
	516	541	-25
	243	239	4
	123,819	126,283	-2,464
	494	477	17
	150	147	3
	664	796	-132
	320	329	-9
	480	497	-17
	379	301	78
	278	246	32
	605	531	74
	936	800	136
	68	59	9
	526	544	-18
	524	524
	2,402	2,305	97
	1,425	1,475	-50
	564	584	-20
	672	767	-95
	548	695	-147
	2,045	1,929	116
	363	316	47
	2,898	2,184	714
	937	935	2
	2,109	1,968	141
	1,762	1,668	94
	1,478	1,215	263
	1,624	1,513	111
	2,324	2,589	-265
	1,307	1,170	137
	2,850	2,442	408
	1,195	1,187	8
	581	563	18
	1,382	1,082	300
	1,647	1,431	216
	891	1,013	-122
	1,410	1,387	23
	1,000	995	5
	1,357	1,229	128
	247	294	-47
	480	570	-90
	45	49	-4
	997	957	40
	1,199	1,126	73
	2,079	1,947	132
	3,102	2,730	372
	105,000	105,000
	1,004	971	33
	2,304	1,935	369
	860	898	-38
	72	70	2
	26	29	-3
	47	51	-4
	45	45
	105,000	105,000
	1,178	1,117	61
	1,233	1,126	107
	1,246	987	259
	1,433	1,324	109
	416	402	14
	22	1,765	-1,743
	100,000	100,508	-508
	76,489	85,531	-9,042
	10	10
	6,403	8,623	-2,220
	4,221	5,595	-1,374
	44	47	-3
	883	790	93
	1,319	1,211	108
	1,218	1,613	-395
	1,680	1,330	350
	2,479	2,251	228
	1,096	965	131
	2,424	2,409	15
	3,283	2,730	553
	913	1,023	-110
	19	19
	505	506	-1
	878	917	-39
	72	70	2
	80	87	-7
	39	43	-4
	3,010	1,986	1,024
	698	625	73
	2,381	3,327	-946
	2,423	2,412	11
	637	540	97
	2,276	1,822	454
	1,413	1,249	164
	748	663	85
	1,372	972	400
	5,491	4,382	1,109
	2,830	3,982	-1,152
	3,318	3,120	198
	35	38	-3
	1,644	1,552	92
	808	844	-36
	78	75	3
	18	19	-1
	42	46	-4
	2,111	2,309	-198
	1,655	1,670	-15
	808	536	272
	1,033	1,054	-21
	1,436	1,289	147
	73	80	-7
	533	489	44
	3,151	2,506	645
	1,241	1,324	-83
	3,091	3,479	-388
	351	319	32
	1,127	971	156
	8,193	7,470	723
	4,815	4,514	301
	5,304	6,290	-986
	3,922	2,484	1,438
	781	816	-35
	73	71	2
	28	31	-3
	122	133	-11
	1,261	1,432	-171
	673	626	47
	11,682	5,485	6,197
	8,545	7,607	938
	11,044	7,774	3,270
	26,355	39,948	-13,593
	3,818	6,437	-2,619
	6,306	3,956	2,350
	12,646	7,682	4,964
	579	538	41
	75	81	-6
	337	274	63
	562	510	52
	746	824	-78
	424	712	-288
	607	602	5
	1,160	2,316	-1,156
	681	804	-123
	1,330	971	359
	2,373	2,503	-130
	2,090	2,050	40
	1,490	1,702	-212
	1,320	1,249	71
	16,653	17,146	-493
	3,734	5,235	-1,501
	7,784	5,699	2,085
	4,003	3,122	881
	3,296	2,082	1,214
	28	47	-19
	2,618	3,015	-397
	444	464	-20
	78	76	2
	36	39	-3
	35	38	-3
			67,233

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			1
b			-158
c			-17
d			7,499
e			7,131
			6,069
			-47
			-4,303
			290
			606
			3,210
			1,643
			955
			1,930
			1,324
			2,414
			767
			-8
			-13
			-32
			-47
			4
			-5
			-7
			2
			-689
			3,008
			-631
			7,864
			2,416
			41
			335
			1,188
			1,480
			534
			-25
			3,862
			3,503
			397
			1,466
			1,735
			-832
			1,790
			2,517
			1,412
			1,112
			469
			776
			-5
			555
			8,861
			8,055
			17,352
			1,042
			596
			-20
			761
			-564
			-73
			2,042
			538
			1,612
			-680
			590
			585
			1,649
			727
			1,374
			197
			2,599
			1,289
			-440
			1,461
			-1,688
			-448
			-1,532
			-512
			1
			-40
			-352
			-1,546
			-937
			240
			379
			-38
			4
			-3
			-7
			1,967
			36,889
			85,979
			1,089
			457
			274
			29
			36
			3
			6
			33
			55
			5,426
			-22
			6
			43
			48
			28
			383
			153
			190
			-107
			-36
			-57
			68
			-39
			2
			-4
			-4
			126
			222
			1,256
			92
			-193
			-45
			99
			117
			260
			102
			36
			140
			36
			-6
			27
			136
			60
			-6
			15
			-46
			3
			-5
			-7
			68
			346
			-281
			46
			-4

			-69
			-47
			-322
			-142
			-119
			10
			31
			-383
			36
			191
			240
			-8
			-35
			-45
			3
			-3
			-1

			315
			16
			13
			5,346
			985
			1,644
			-1
			-6,064
			1,097
			732
			1,049

			231
			11
			254
			-6
			-6
			-104
			10,899
			6,195
			-42
			2
			-7
			-1
			323
			50
			75
			212
			413
			228
			164
			65
			2,294
			2,837
			-69
			-837
			344
			102
			126
			-82
			336
			72
			-27
			29
			-2,170
			6,106
			42,918
			2,218
			5,119
			12,699
			30,594
			1,823
			-14
			18
			-240
			40
			36
			-34
			33
			20
			360
			63
			1
			25
			-10
			368
			15
			195
			-228
			36
			-14
			30
			34
			-41
			24
			52
			-25
			116
			21
			1
			-58
			-48
			-25
			4
			-2,464
			17
			3
			-132
			-9
			-17
			78
			32
			74
			136
			9
			-18

			97
			-50
			-20
			-95
			-147
			116
			47
			714
			2
			141
			94
			263
			111
			-265
			137
			408
			8
			18
			300
			216
			-122
			23
			5
			128
			-47
			-90
			-4
			40
			73
			132
			372

			33
			369
			-38
			2
			-3
			-4


			61
			107
			259
			109
			14
			-1,743
			-508
			-9,042

			-2,220
			-1,374
			-3
			93
			108
			-395
			350
			228
			131
			15
			553
			-110

			-1
			-39
			2
			-7
			-4
			1,024
			73
			-946
			11
			97
			454
			164
			85
			400
			1,109
			-1,152
			198
			-3
			92
			-36
			3
			-1
			-4
			-198
			-15
			272
			-21
			147
			-7
			44
			645
			-83
			-388
			32
			156
			723
			301
			-986
			1,438
			-35
			2
			-3
			-11
			-171
			47
			6,197
			938
			3,270
			-13,593
			-2,619
			2,350
			4,964
			41
			-6
			63
			52
			-78
			-288
			5
			-1,156
			-123
			359
			-130
			40
			-212
			71
			-493
			-1,501
			2,085
			881
			1,214
			-19
			-397
			-20
			2
			-3
			-3

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	431,184
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	562,553	11,998,912	0.046884
2016	598,255	11,370,989	0.052612
2015	631,581	12,184,148	0.051836
2014	624,199	12,795,262	0.048784
2013	565,451	12,537,951	0.045099

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

0.245215

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 ......

0.049043

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

12,172,785

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

596,990

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

6,291

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

603,281

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

596,951

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	12,583
	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	12,583
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	12,583
6	Credits/Payments:

a	2018 estimated tax payments and 2017 overpayment credited to 2018	6a	11,689
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	11,689
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	894
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	115,455
100 N MAIN ST MAC D4001-117 WINSTON SALEM,NC27101	TRUSTEE 1	115,455

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

12,072,032

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

286,125

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

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

12,358,157

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

12,358,157

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

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

185,372

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

12,172,785

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

608,639

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

608,639

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

12,583

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

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

12,583

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

596,056

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

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

596,056

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

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

596,056

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 ..........

596,951

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

596,951

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

596,951

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					596,056
2 Undistributed income, if any, as of the end of 2018:
a Enter amount for 2017 only.......				0
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......	28,544
e From 2017......	0
fTotal of lines 3a through e........		28,544
4Qualifying distributions for 2018 from Part
XII, line 4: $ 596,951
a Applied to 2017, but not more than line 2a				0
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.....					596,056
e Remaining amount distributed out of corpus		895
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		29,439
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 ..........					0
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 ......		29,439
10 Analysis of line 9:
a Excess from 2014....	0
b Excess from 2015....	0
c Excess from 2016....	28,544
d Excess from 2017....	0
e Excess from 2018....	895

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
THE SALVATION ARMY WESTERN DIVISION 3612 CUMING STREET OMAHA,NE68131	NONE	PC	GENERAL OPERATING	141,731
THE SALVATION ARMY 5550 PRAIRIE STONE PARKWAY HOFFMAN ESTATES,IL60192	NONE	PC	GENERAL OPERATING	141,731
SHRINERS HOSPITALS FOR CHILDREN 2900 N ROCKY POINT TRUST INV ACCT T TAMPA,FL336313356	NONE	PC	GENERAL OPERATING	283,462
Total ................................. 3a				566,924

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	304,732
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	431,184
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aFEDERAL TAX REFUND			1	4,803
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				740,719

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

740,719

(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	1,159			1,159

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:

PARSEN EM CHAR TUA-MAIN

EIN:

26-3503674

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
384109104 GRACO INC	AT COST	17,032	16,363
60786M105 MOELIS & CO	AT COST	12,442	8,526
40418F108 HFF INC	AT COST	15,926	10,876
776696106 ROPER INDS INC NEW C	AT COST	8,064	7,729
778296103 ROSS STORES INC	AT COST	683	749
023586100 AMERCO	AT COST	3,389	3,281
615369105 MOODYS CORP	AT COST	6,271	5,462
530307107 LIBERTY BROADBAND CO	AT COST	2,224	1,939
489398107 KENNEDY-WILSON HOLDI	AT COST	4,622	4,070
112585104 BROOKFIELD ASSET MAN	AT COST	19,530	19,175
194014106 COLFAX CORPORATION	AT COST	5,573	3,762
Y2573F102 FLEXTRONICS INTL LTD	AT COST	36,741	16,331
594918104 MICROSOFT CORP	AT COST	54,342	125,947
911312106 UNITED PARCEL SERVIC	AT COST	36,552	33,843
316389584 FIDELITY ADV INTER R	AT COST	225,935	231,126
09260C703 BLACKROCK GL L/S CRE	AT COST	329,675	313,440
084670702 BERSHIRE HATHAWAY IN	AT COST	16,090	25,727
SKY990RF9 SKYBRIDGE MULTI-ADVI	AT COST	250,000	239,793
375558103 GILEAD SCIENCES INC	AT COST	17,821	19,953
285512109 ELECTRONIC ARTS INC	AT COST	15,682	16,177
771195104 ROCHE HOLDINGS LTD -	AT COST	37,538	34,219
405217100 HAIN CELESTIAL GROUP	AT COST	27,190	12,958
464287481 ISHARES TR RUSSELL M	AT COST	181,492	242,202
20030N101 COMCAST CORP CLASS A	AT COST	12,572	17,127
46432F842 ISHARES CORE MSCI EA	AT COST	343,786	346,775
844741BE7 SOUTHWEST AIRLINES	AT COST	99,357	95,189
9128283W8 US TREASURY NOTE	AT COST	24,682	25,129
06051GEC9 BANK OF AMERICA CORP	AT COST	57,773	51,689
14040HAY1 CAPITAL ONE FINANCIA	AT COST	84,188	76,858
15189XAL2 CENTERPOINT ENER HOU	AT COST	49,867	48,300
03027X100 AMERICAN TOWER REIT	AT COST	2,574	3,797
40414L109 HCP INC	AT COST	2,956	2,821
30224P200 EXTENDED STAY AMERIC	AT COST	3,755	2,961
981558109 WORLDPAY INC	AT COST	6,319	7,567
09857L108 BOOKING HOLDINGS INC	AT COST	8,060	8,612
016255101 ALIGN TECHNOLOGY INC	AT COST	2,410	5,236
69354M108 PRA HEALTH SCIENCES	AT COST	7,496	7,541
G1151C101 ACCENTURE PLC	AT COST	5,735	6,909
34964C106 FORTUNE BRANDS HOME	AT COST	7,941	5,357
G66721104 NORWEGIAN CRUISE LIN	AT COST	7,942	6,994
879360105 TELEDYNE TECHNOLOGIE	AT COST	20,011	22,571
052769106 AUTODESK INC COM	AT COST	8,692	8,488
115236101 BROWN & BROWN INC	AT COST	6,050	6,477
31620R303 FNF GROUP	AT COST	11,681	9,243
78410G104 SBA COMMUNICATIONS C	AT COST	21,054	19,751
G0408V102 AON PLC	AT COST	4,855	5,088
192446102 COGNIZANT TECH SOLUT	AT COST	37,883	43,230
25243Q205 DIAGEO PLC - ADR	AT COST	34,461	41,547
26875P101 EOG RESOURCES, INC	AT COST	31,545	25,640
00203H859 AQR MANAGED FUTURES	AT COST	394,901	327,747
437076102 HOME DEPOT INC	AT COST	32,408	38,488
512807108 LAM RESEARCH CORP CO	AT COST	23,771	18,655
654106103 NIKE INC CL B	AT COST	29,118	41,518
883556102 THERMO FISHER SCIENT	AT COST	21,457	40,954
907818108 UNION PACIFIC CORP	AT COST	21,004	49,625
09247X101 BLACKROCK INC	AT COST	32,228	34,568
517834107 LAS VEGAS SANDS CORP	AT COST	34,895	31,178
150870103 CELANESE CORP	AT COST	18,427	36,438
00206R102 AT & T INC	AT COST	49,420	40,441
47803M168 JOHN HANCOCK II-CURR	AT COST	250,000	239,005
12572Q105 CME GROUP INC	AT COST	19,354	40,258
98978V103 ZOETIS INC	AT COST	17,862	27,715
74925K581 ROBECO BP LNG/SHRT R	AT COST	444,012	432,104
87234N765 TCW EMRG MKTS INCM-I	AT COST	505,000	493,271
912828N30 US TREASURY NOTE	AT COST	125,645	123,238
912828RR3 US TREASURY NOTE 2.0	AT COST	58,673	59,224
437076BC5 HOME DEPOT INC 3.750	AT COST	84,183	76,687
264411505 DUKE REALTY CORPORAT	AT COST	3,891	3,989
95040Q104 WELLTOWER INC	AT COST	12,949	13,118
30225T102 EXTRA SPACE STORAGE	AT COST	8,714	9,410
867892101 SUNSTONE HOTEL INVS	AT COST	4,221	4,475
29472R108 EQUITY LIFESTYLE PPT	AT COST	3,182	4,274
43283X105 HILTON GRAND VACATIO	AT COST	3,285	2,560
26884U109 EPR PROPERTIES	AT COST	6,024	5,763
101137107 BOSTON SCIENTIFIC CO	AT COST	7,892	10,955
67066G104 NVIDIA CORP	AT COST	4,643	4,272
21036P108 CONSTELLATION BRANDS	AT COST	7,655	7,880
79466L302 SALESFORCE COM INC	AT COST	7,310	12,327
252131107 DEXCOM INC	AT COST	8,264	7,188
30303M102 FACEBOOK INC	AT COST	18,801	18,353
697435105 PALO ALTO NETWORKS I	AT COST	6,857	8,287
45866F104 INTERCONTINENTALEXCH	AT COST	5,467	7,156
257651109 DONALDSON CO INC	AT COST	6,919	6,856
464287630 ISHARES RUSSELL 2000	AT COST	121,211	135,500
46625H100 JPMORGAN CHASE & CO	AT COST	26,648	45,784
63872T885 ASG GLOBAL ALTERNATI	AT COST	31,128	31,069
922908553 VANGUARD REIT VIPER	AT COST	32,725	71,960
609207105 MONDELEZ INTERNATION	AT COST	41,558	38,389
46434G103 ISHARES CORE MSCI EM	AT COST	312,502	357,397
143130102 CARMAX INC	AT COST	12,585	13,173
531229409 LIBERTY SIRIUSXM GRO	AT COST	1,763	1,582
531229607 LIBERTY SIRIUSXM GRO	AT COST	3,922	3,550
620076307 MOTOROLA SOLUTIONS,	AT COST	2,419	2,646
G5480U104 LIBERTY GLOBAL PLC-A	AT COST	2,381	1,558
M98068105 WIX.COM LTD	AT COST	5,509	5,240
172967424 CITIGROUP INC	AT COST	24,145	27,279
912828J27 US TREASURY NOTE 2.0	AT COST	159,776	154,770
00206RCT7 AT&T INC	AT COST	82,082	73,290
46625HRL6 JPMORGAN CHASE & CO	AT COST	59,651	57,632
828807CK1 SIMON PROPERTY GROUP	AT COST	64,732	65,092
61945CAC7 MOSAIC CO 4.250% 11/	AT COST	70,544	65,333
03748R101 APARTMENT INVT & MGM	AT COST	8,299	8,644
929042109 VORNADO REALTY TRUST	AT COST	2,596	2,047
053484101 AVALONBAY CMNTYS INC	AT COST	15,566	15,839
74340W103 PROLOGIS INC	AT COST	17,155	18,673
229663109 CUBESMART	AT COST	4,030	3,959
278865100 ECOLAB INC	AT COST	4,713	5,747
617446448 MORGAN STANLEY	AT COST	6,857	5,194
892356106 TRACTOR SUPPLY CO CO	AT COST	7,972	9,012
61174X109 MONSTER BEVERAGE COR	AT COST	5,873	6,595
983793100 XPO LOGISTICS INC	AT COST	4,920	4,848
90384S303 ULTA SALON COSMETICS	AT COST	10,079	10,283
N22717107 CORE LABORATORIES N	AT COST	4,605	2,625
76657Y101 RIGHTMOVE PLC-UNSP A	AT COST	20,633	17,691
75524B104 RBC BEARINGS INC	AT COST	10,136	10,881
12514G108 CDW CORP/DE	AT COST	17,649	20,506
573284106 MARTIN MARIETTA MATL	AT COST	13,302	11,343
256677105 DOLLAR GENERAL CORP	AT COST	4,644	5,404
3128M5WA4 FHLMC POOL G03941 6.	AT COST	4,713	4,752
6174467P8 MORGAN STANLEY 5.500	AT COST	84,604	77,316
912828PC8 US TREASURY NOTE 2.6	AT COST	286,041	275,506
866674104 SUN CMNTYS INC COM	AT COST	5,184	7,323
84860W300 SPIRIT REALTY CAPITA	AT COST	6,580	4,547
22822V101 CROWN CASTLE INTL CO	AT COST	2,106	2,498
88146M101 TERRENO REALTY CORP	AT COST	1,595	2,005
444097109 HUDSON PACIFIC PROPE	AT COST	3,750	3,138
N47279109 INTERXION HOLDING NV	AT COST	3,689	4,983
71943U104 PHYSICIANS REALTY TR	AT COST	3,017	2,517
023135106 AMAZON COM INC	AT COST	15,181	27,035
92532F100 VERTEX PHARMACEUTICA	AT COST	7,693	7,623
015351109 ALEXION PHARMACEUTIC	AT COST	8,095	6,231
20605P101 CONCHO RESOURCES INC	AT COST	7,309	5,345
045327103 ASPEN TECHNOLOGY INC	AT COST	15,465	16,272
262037104 DRIL-QUIP INC COM	AT COST	11,406	7,808
04316A108 ARTISAN PARTNERS ASS	AT COST	8,599	5,793
009158106 AIR PRODUCTS AND CHE	AT COST	7,660	7,682
311900104 FASTENAL CO	AT COST	3,056	2,928
45168D104 IDEXX CORP	AT COST	2,944	2,604
422806208 HEICO CORP CL A	AT COST	990	945
03662Q105 ANSYS INC	AT COST	9,056	7,576
36164V305 GCI LIBERTY INC	AT COST	3,740	3,046
92345Y106 VERISK ANALYTICS INC	AT COST	8,890	9,486
89400J107 TRANSUNION	AT COST	8,123	7,725
33616C100 FIRST REPUBLIC BANK/	AT COST	9,411	8,516
12504L109 CBRE GROUP INC	AT COST	10,515	9,249
278768106 ECHOSTAR CORPORATION	AT COST	966	661
126650100 CVS/CAREMARK CORPORA	AT COST	47,605	40,688
GTC997004 GAI CORBIN MULTI STR	AT COST	100,000	98,622
31641Q763 FIDELITY NEW MRKTS I	AT COST	589,458	546,302
17275RBC5 CISCO SYSTEMS INC	AT COST	75,194	71,510
912828U24 US TREASURY NOTE	AT COST	43,817	42,956
4812C0803 JPMORGAN HIGH YIELD	AT COST	246,488	232,345
925652109 VICI PROPERTIES INC	AT COST	1,694	1,502
49427F108 KILROY REALTY CORP C	AT COST	5,845	5,471
531172104 LIBERTY PPTY TR SH B	AT COST	3,002	3,057
804395101 SAUL CTRS INC COM	AT COST	1,330	1,086
828806109 SIMON PROPERTY GROUP	AT COST	18,836	15,623
15135B101 CENTENE CORP DEL	AT COST	4,234	7,033
90385D107 ULTIMATE SOFTWARE GR	AT COST	6,943	8,081
254687106 WALT DISNEY CO	AT COST	29,793	37,610
411511504 HARBOR CAPITAL APRCT	AT COST	69,575	71,466
693475105 PNC FINANCIAL SERVIC	AT COST	25,739	32,384
89151E109 TOTAL FINA ELF S.A.	AT COST	46,606	48,110
04314H402 ARTISAN INTERNATIONA	AT COST	368,984	329,129
277923728 EATON VANCE GLOBAL M	AT COST	445,920	421,236
58933Y105 MERCK & CO INC NEW	AT COST	23,098	35,301
003021714 ABERDEEN EMERG MARKE	AT COST	391,897	373,123
G29183103 EATON CORP PLC	AT COST	24,731	28,906
31410LCN0 FNMA POOL 890277 6.0	AT COST	2,354	2,347
77958B402 T ROWE PRICE INST FL	AT COST	109,961	106,718
015271109 ALEXANDRIA REAL ESTA	AT COST	10,652	11,294
101121101 BOSTON PROPERTIES IN	AT COST	5,222	4,615
H42097107 UBS GROUP AG	AT COST	37,661	23,448
464287473 ISHARES RUSSELL MIDC	AT COST	165,348	183,622
02079K107 ALPHABET INC/CA	AT COST	42,902	91,134
H84989104 TE CONNECTIVITY LTD	AT COST	27,230	30,252
848574109 SPIRIT AEROSYTSEMS H	AT COST	11,711	18,671
09247XAL5 BLACKROCK INC 3.500%	AT COST	77,439	75,812
13017HAE6 CALIFORNIA ST EARTHQ	AT COST	21,000	20,975
3138ETJ98 FNMA POOL #AL8387	AT COST	53,670	52,455
3138LFV62 FNMA POOL #AN3336	AT COST	46,579	45,772
22002T108 CORPORATE OFFICE PRO	AT COST	1,827	1,199
29476L107 EQUITY RESIDENTIAL P	AT COST	3,135	3,168
875465106 TANGER FACTORY OUTLE	AT COST	2,329	1,759
962166104 WEYERHAEUSER CO	AT COST	2,519	1,574
758849103 REGENCY CENTERS CORP	AT COST	10,348	8,861
42225P501 HEALTHCARE TRUST OF	AT COST	7,987	7,391
43300A203 HILTON WORLDWIDE HOL	AT COST	14,733	15,222
518439104 ESTEE LAUDER COMPANI	AT COST	3,721	5,855
11135F101 BROADCOM INC	AT COST	18,359	20,597
G0177J108 ALLERGAN PLC	AT COST	9,319	5,614
596278101 MIDDLEBY CORP	AT COST	11,027	8,629
34959J108 FORTIVE CORP	AT COST	6,852	7,240
73278L105 POOL CORPORATION	AT COST	22,503	23,041
038336103 APTARGROUP INC	AT COST	5,562	5,926
303075105 FACTSET RESH SYS INC	AT COST	11,675	11,608
749607107 RLI CORP COM	AT COST	4,614	5,036
891092108 TORO CO	AT COST	9,437	8,717
570535104 MARKEL HOLDINGS	AT COST	17,250	15,571
366651107 GARTNER INC	AT COST	12,588	13,423
12508E101 CDK GLOBAL INC	AT COST	3,563	2,681
82509L107 SHOPIFY INC - A W/I	AT COST	925	831
G47567105 IHS MARKIT LTD	AT COST	8,579	8,731
44267D107 HOWARD HUGHES CORP/T	AT COST	6,117	4,588
09215C105 BLACK KNIGHT INC	AT COST	10,317	9,643
40416M105 HD SUPPLY HOLDINGS I	AT COST	749	750
037833100 APPLE COMPUTER INC C	AT COST	34,015	105,213
17275R102 CISCO SYSTEMS INC	AT COST	25,768	49,613
56501R106 MANULIFE FINANCIAL C	AT COST	24,056	24,137
87612E106 TARGET CORP	AT COST	15,276	17,249
91324P102 UNITEDHEALTH GROUP I	AT COST	17,446	56,052
297178105 ESSEX PPTY TR COM	AT COST	11,226	12,751
74460D109 PUBLIC STORAGE INC C	AT COST	5,815	4,858
862121100 STORE CAPITAL CORP	AT COST	6,920	7,672
29444U700 EQUINIX INC	AT COST	24,189	22,211
02665T306 AMERICAN HOMES 4 REN	AT COST	4,852	4,566
040413106 ARISTA NETWORKS INC	AT COST	7,790	7,164
00507V109 ACTIVISION BLIZZARD	AT COST	4,954	4,517
741511109 PRICESMART INC	AT COST	12,349	9,101
115637209 BROWN FORMAN CORP CL	AT COST	2,581	2,379
608190104 MOHAWK INDS INC COM	AT COST	4,169	2,105
91879Q109 VAIL RESORTS INC COM	AT COST	7,817	5,903
448579102 HYATT HOTELS CORP	AT COST	4,432	3,988
531229854 LIBERTY MEDIA GROUP	AT COST	5,222	5,219
67103H107 O'REILLY AUTOMOTIVE	AT COST	12,378	17,561
40171V100 GUIDEWIRE SOFTWARE I	AT COST	4,439	3,610
55354G100 MSCI INC	AT COST	3,247	2,949
893641100 TRANSDIGM GROUP INC	AT COST	25,537	29,925
G50871105 JAZZ PHARMACEUTICALS	AT COST	8,385	8,057
92826C839 VISA INC-CLASS A SHR	AT COST	8,908	13,722
217204106 COPART INC COM	AT COST	31,145	29,719
55261F104 M & T BANK CORPORATI	AT COST	3,444	2,719
592688105 METTLER-TOLEDO INTL	AT COST	7,278	7,353
595017104 MICROCHIP TECHNOLOGY	AT COST	8,672	6,617
G0450A105 ARCH CAPITAL GROUP L	AT COST	7,232	6,920
530307305 LIBERTY BROADBAND CO	AT COST	3,395	2,953
48251W104 KKR & CO INC -A	AT COST	6,598	4,927
86614U100 SUMMIT MATERIALS INC	AT COST	2,752	1,823
531229870 LIBERTY MEDIA GROUP	AT COST	380	386
75606N109 REALPAGE INC	AT COST	4,189	3,373
G5480U120 LIBERTY GLOBAL PLC-S	AT COST	4,556	2,972
912828SV3 US TREASURY NOTE 1.7	AT COST	89,612	87,887
037833AK6 APPLE INC 2.400% 5/0	AT COST	74,388	72,520
32054K103 FIRST INDL RLTY TR I	AT COST	1,961	2,136
876664103 TAUBMAN CTRS INC COM	AT COST	2,231	1,956
46187W107 INVITATION HOMES INC	AT COST	10,919	10,662
235851102 DANAHER CORP	AT COST	7,000	8,662
191216100 COCA COLA CO	AT COST	7,985	8,381
64110L106 NETFLIX.COM INC	AT COST	7,013	9,100
78409V104 S&P GLOBAL INC	AT COST	10,654	11,896
92927K102 WABCO HOLDINGS INC	AT COST	24,418	20,287
426281101 HENRY JACK & ASSOC I	AT COST	8,617	9,109
562750109 MANHATTAN ASSOCIATES	AT COST	3,868	3,983
679580100 OLD DOMINION FREIGHT	AT COST	19,529	16,918
74164M108 PRIMERICA INC	AT COST	19,981	20,031
57060D108 MARKETAXESS HLDGS IN	AT COST	11,977	11,833
05278C107 AUTOHOME INC-ADR	AT COST	30,942	29,023
526057104 LENNAR CORPORATION C	AT COST	5,065	3,445
743315103 PROGRESSIVE CORP OHI	AT COST	5,043	5,068
92343E102 VERISIGN INC	AT COST	8,415	10,380
929160109 VULCAN MATLS CO	AT COST	10,529	9,386
76131D103 RESTAURANT BRANDS IN	AT COST	14,172	12,970
48238T109 KAR AUCTION SERVICES	AT COST	2,947	2,529
53046P109 LIBERTY EXPEDIA HOLD	AT COST	1,353	1,408
912828KQ2 US TREASURY NOTE 3.1	AT COST	103,443	100,223
31413YL82 FNMA POOL 959451 6.0	AT COST	1,983	1,980
748149AF8 PROVINCE OF QUEBEC 2	AT COST	74,708	75,029
539830AY5 LOCKHEED MARTIN CORP	AT COST	39,892	40,266
097023105 BOEING COMPANY	AT COST	20,454	37,733
532457108 ELI LILLY & CO COM	AT COST	22,432	35,179
872540109 TJX COS INC NEW	AT COST	11,686	17,314
464287648 ISHARES RUSSELL 2000	AT COST	101,718	134,400
867224107 SUNCOR ENERGY INC NE	AT COST	41,845	42,878

Description	Amount
PY RETURN OF CAPITAL ADJUSTMENT	3,774
COST BASIS ADJUSTMENT	1,335

Category	Amount	Net Investment Income
FOREIGN TAXES	4,142	4,142
FEDERAL TAX PAYMENT - PRIOR YE	9,594	0
FEDERAL ESTIMATES - PRINCIPAL	11,689	0
FOREIGN TAXES ON NONQUALIFIED	1,879	1,879

Description	Revenue and Expenses per Books	Net Investment Income	Adjusted Net Income	Disbursements for Charitable Purposes
OTHER EXPENSE (NON-DEDUCTIBLE	4	0		4
INVESTMENT EXPENSES-DIVIDEND I	1,092	1,092		0