| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| KELLOGG CO | 15,313 | 15,117 |
| JPMORGAN CHASE & 4.95%20 | 15,553 | 15,328 |
| WELLS FARGO & CO 4.6%21 | 15,593 | 15,357 |
| AMGEN INC 3.875%21 | 15,287 | 15,193 |
| UNION PACIFIC C 4.163% | 31,110 | 30,558 |
| BANK OF AMERICA C 4.1%23 | 15,375 | 15,216 |
| VERIZON COMMUNIC 5.15%23 | 16,143 | 15,978 |
| FEDEX CORP 4%24 | 15,401 | 15,199 |
| AMERICAN TOWER CORP 5%24 | 15,791 | 15,499 |
| GENERAL MILLS, I 3.65%24 | 14,907 | 14,781 |
| CAPITAL ONE FINL 4.25%25 | 14,985 | 14,873 |
| MORGAN STANLEY 4%25 | 14,987 | 14,789 |
| SOUTHERN POWER C 4.1525 | 15,167 | 14,994 |
| GILEAD SCIENCES. 3.65%26 | 14,573 | 14,716 |
| CONOCOPHILLIPS 4.95%26 | 32,351 | 32,142 |
| INTEL CORP 4.8%41 | 16,584 | 16,170 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AT&T INC | 28,329 | 23,117 |
| ABBVIE INC | 32,015 | 31,345 |
| AIRBUS GROUP | 4,349 | 3,329 |
| ALTRIA GROUP INC | 22,628 | 17,780 |
| AMERIPRISE FINL | 13,100 | 9,393 |
| AMGEN INC | 17,279 | 19,467 |
| ANALOG DEVICES INC | 17,181 | 16,308 |
| ARTHUR J GALLAGHER&C | 8,781 | 9,581 |
| AVERY DENNISON CORP | 7,531 | 6,288 |
| BAE SYSTEMS PLC | 5,821 | 3,981 |
| BANK OF NOVA SCOTIA | 9,033 | 7,481 |
| BB&T CORP | 20,336 | 16,895 |
| BHP GROUP LTD | 3,341 | 3,380 |
| BLACKROCK INC | 15,730 | 11,785 |
| BP PLC | 3,400 | 3,034 |
| CHECK PT SOFTWARE | 3,093 | 3,080 |
| CHEVRON CORP | 40,249 | 35,357 |
| CHUBB LTD | 1,434 | 1,292 |
| CISCO SYSTEMS INC | 40,861 | 40,297 |
| DANONE | 3,136 | 3,076 |
| DBS GROUP HOLDINGS LIM F | 9,081 | 6,973 |
| DIGITAL REALTY TRUST | 10,282 | 10,655 |
| EATON CORP PLC | 20,504 | 17,852 |
| EMERSON ELECTRIC CO | 16,182 | 13,145 |
| ENTERGY CORP | 19,985 | 20,657 |
| EXELON CORP | 15,391 | 15,334 |
| FORTIS INC | 4,164 | 4,003 |
| GILEAD SCIENCES INC | 10,347 | 8,757 |
| GLAXOSMITHKLINE PLC | 2,294 | 2,293 |
| HONEYWELL INTL INC | 17,041 | 15,854 |
| HOYA CORP | 2,977 | 3,007 |
| HSBC HOLDGS PLC | 5,435 | 4,522 |
| INTELCONTL HTLS | 4,980 | 4,367 |
| J P MORGAN CHASE & CO | 44,010 | 39,048 |
| JOHNSON & JOHNSON | 6,424 | 6,453 |
| LAS VEGAS SANDS CORP | 7,429 | 5,205 |
| LILLY ELI & CO | 22,767 | 31,244 |
| LYONDELLBASELLD INDS | 8,686 | 6,653 |
| MC CORMICK & CO INC | 14,954 | 19,494 |
| MERCK & CO | 31,450 | 41,261 |
| METLIFE | 28,114 | 25,047 |
| MICROSOFT CORP | 13,235 | 15,236 |
| MORGAN STANLEY | 14,751 | 12,688 |
| NOVO-NORDISK A S | 4,307 | 4,146 |
| NUTRIEN LTD | 5,135 | 4,700 |
| NXP SEMICONDUCTORS | 4,663 | 3,664 |
| OCCIDENTAL PETROL CO | 33,479 | 27,007 |
| PFIZER INC | 7,280 | 8,730 |
| PRECISION DRILLING | 1,770 | 940 |
| RAYTHEON CO | 14,190 | 10,735 |
| ROCHE HLDG AG | 4,736 | 5,284 |
| SAFRAN | 6,114 | 6,576 |
| SAP SE | 5,379 | 4,977 |
| SCHNEIDER ELECTRIC SA | 3,191 | 2,433 |
| SIX FLAGS ENTERTAIN | 31,698 | 28,371 |
| SOCIETE GENERALE | 3,906 | 2,201 |
| SONY CORP | 6,941 | 6,759 |
| SUMITOMO MITSUI FINL00 | 4,205 | 3,255 |
| SUNCOR ENERGY INC | 6,422 | 4,755 |
| SUNTRUST BANKS INC | 16,085 | 12,105 |
| TENCENT HOLDINGS | 3,084 | 2,368 |
| TEXAS INSTRUMENTS | 5,472 | 4,725 |
| TJX COMPANIES INC | 7,608 | 6,264 |
| TORONTO-DOMINION BK | 4,064 | 3,480 |
| TOTAL S A | 5,102 | 4,592 |
| UBS GROUP AG | 4,051 | 3,095 |
| UPM-KYMMENE CORP | 2,596 | 1,801 |
| WAL-MART DE MEXICO S A F | 1,886 | 1,781 |
| WESTROCK CO | 7,975 | 4,531 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| ISHARES MSCI EAFE SMALL | FMV | 11,334 | 8,809 |
| ISHARES MSCI JAPAN ETF | FMV | 4,860 | 4,055 |
| HARDING LOEVNER INST | FMV | 38,800 | 30,432 |
| JPMORGAN US SMALL CO | FMV | 41,707 | 33,084 |
| MATTHEWS PACIFIC TIGER | FMV | 17,400 | 14,877 |
| VERSUS CAP MULTI MNGR | FMV | 85,500 | 86,651 |
| VERSUS CAP REAL ASSET | FMV | 54,823 | 53,331 |
| GAMING & LEISURE PPT | FMV | 7,767 | 7,108 |
| STARWOOD PPTY TRUST | FMV | 15,128 | 13,403 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL | 8,169 | 0 | 8,169 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| OFFICE EXPENSE | 588 | 588 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT FEES | 10,414 | 10,414 | 0 | |
| DUES | 585 | 0 | 585 |