| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 1,865 | 0 | 1,865 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| PIPER JAFFRAY COS INC** | 84,240 | 88,884 |
| PROCTER & GAMBLE CO | 169,650 | 224,836 |
| BOYD WATTERSON | 1,782,231 | 1,782,231 |
| SEAGATE TECHNOLOGY | 59,939 | 47,157 |
| AES CORP | 58,290 | 60,183 |
| ALASKA AIR GROUP INC | 59,579 | 51,662 |
| ALPHABET INC CL | 54,387 | 47,023 |
| ANTHEM INC | 59,642 | 57,253 |
| BEST BUY | 59,967 | 39,402 |
| CVS HEALTH CORP | 62,030 | 50,844 |
| CAPITAL ONE FINL CORP | 59,846 | 45,581 |
| CARDINAL HEALTH INC | 59,573 | 48,346 |
| CARNIVAL CORP | 59,796 | 43,877 |
| CISCO SYSTEMS INC | 60,102 | 53,773 |
| COGNIZANT TECHNOLOGY SOLUTIONS | 60,117 | 49,260 |
| CONAGRA BRANDS INC | 60,107 | 34,240 |
| DISNEY WALT CO | 59,484 | 58,772 |
| FLIR SYSTEMS INC | 59,777 | 42,452 |
| GAP INC | 59,924 | 55,590 |
| HARTFORD FINL SVCS | 60,069 | 52,451 |
| HONEYWELL INTL INC | 59,472 | 49,017 |
| INTEL CORP | 59,283 | 59,836 |
| KANSAS CITY SOUTHN | 59,594 | 48,489 |
| KINDER MORGAN INC | 59,924 | 50,877 |
| KOHLS CORP | 58,956 | 51,613 |
| METLIFE INC | 60,156 | 50,586 |
| MICROSOFT CORP | 59,571 | 53,223 |
| OMNICOM GROUP INC | 55,773 | 58,885 |
| ORACLE CORP | 60,023 | 53,096 |
| PFIZER INC | 60,007 | 59,320 |
| PROCTER & GAMBLE CO | 59,871 | 64,160 |
| PROGRESSIVE CORP | 59,896 | 51,039 |
| PRUDENTIAL FINL INC | 60,176 | 46,810 |
| ROBERT HALF INTL INC | 59,599 | 48,105 |
| UNITEDHEALTH GROUP INC | 60,042 | 56,052 |
| UNIVERSAL HEALTH SVCS INC | 59,722 | 54,900 |
| UNUM GROUP | 60,926 | 44,158 |
| VALERO ENERGY CORP NEW | 59,833 | 39,959 |
| VIACOM INC NEW | 59,836 | 46,389 |
| WALMART INC | 59,876 | 58,126 |
| WESTROCK CO | 59,945 | 40,177 |
| XILINX INC | 59,588 | 64,474 |
| MID-AMER APT CMNTYS INC | 60,155 | 55,697 |
| RUSSELL 3000 INDX | 2,575,000 | 2,211,284 |
| BOYD WATTERSON LIMITED DURATION ENHANCED INCOME | 1,644,442 | 1,581,327 |
| MSCI ACWI EX USA NL CTF | 1,480,331 | 1,322,417 |
| MSCI CANADA SMALL CAP INDEX NL | 16,842 | 13,853 |
| MSCI EAFE SMALL CAP INDX NL | 179,996 | 150,863 |
| MSCI EMG MKTS SMALL CAP INDX | 46,888 | 43,565 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| CASH AND SWEEP | 0 | 130,873 | 130,873 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INSURANCE | 1,538 | 0 | 1,538 | |
| MEMBERSHIP DUES | 1,220 | 0 | 1,220 | |
| MISC | 1 | 1 | 0 | |
| OFFICE EXPENSE | 111 | 111 | 0 | |
| PROFESSIONAL FEES | 158 | 158 | 0 | |
| REGISTRATION FEES | 200 | 0 | 200 | |
| TRAVEL | 46 | 46 | 0 | |
| ORGANIZATION EXPENSES | 9 | 9 | 0 |
| Description | Amount |
|---|---|
| UNREALIZED GAIN/LOSS | 72,451 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT FEES | 65,305 | 56,316 | 8,989 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAXES | 585 | 585 | 0 |