TY 2018 Form 990PF

- TIN:

Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation

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

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

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

OMB No. 1545-0052

2018

Open to Public Inspection

For calendar year 2018, or tax year beginning 10-01-2018 , and ending 09-30-2019

Name of foundation
ADAMS ARTHUR & ALICE FDN

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

65-6003785

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

$15,534,630J 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...	377,955		377,949
5a	Gross rents............
b	Net rental income or (loss)
6a	Net gain or (loss) from sale of assets not on line 10		228,685
b	Gross sales price for all assets on line 6a 5,421,494
7	Capital gain net income (from Part IV, line 2)...			228,685
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).......		2,700	2,700
12	Total. Add lines 1 through 11........	609,340		609,334
13	Compensation of officers, directors, trustees, etc.	256,860		192,645		64,215
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).......		981	0	0	981
c	Other professional fees (attach schedule)....		7,235	7,235		0
17	Interest...............					0
18	Taxes (attach schedule) (see instructions)...		22,926	7,926		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).......		2,261	590		1,671
24	Total operating and administrative expenses.
	Add lines 13 through 23..........	290,263		208,396	0	66,867
25	Contributions, gifts, grants paid.......	633,000				633,000
26	Total expenses and disbursements. Add lines 24 and 25	923,263		208,396	0	699,867
27	Subtract line 26 from line 12:
a	Excess of revenue over expenses and disbursements	-313,923
b	Net investment income (if negative, enter -0-)			400,938
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.........	846,561	839,319	839,319
	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)..........	13,078,752	12,778,696	14,695,311
	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)	13,925,313	13,618,015	15,534,630
	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........	13,925,313	13,618,015
	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).....	13,925,313	13,618,015
	31	Total liabilities and net assets/fund balances (see instructions).	13,925,313	13,618,015

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

13,925,313

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

-313,923

Other increases not included in line 2 (itemize) bullet

7,845

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

13,619,235

Decreases not included in line 2 (itemize) bullet

1,220

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

13,618,015

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	245. BOSTON SCIENTIFIC CORP COM		2015-04-14	2018-10-04
b	191. TJX COMPANIES INC		2017-11-17	2018-10-05
c	60. O'REILLY AUTOMOTIVE INC		2016-08-12	2018-10-11
d	275. CISCO SYSTEMS INC		2012-08-28	2018-10-15
e	185. CITIGROUP INC			2018-10-15
	53.58 FHLMC POOL G18106 5.500% 3/01/21		2006-03-24	2018-10-15
	79.52 FHLMC POOL J01366 5.500% 4/01/21		2007-10-15	2018-10-15
	98.78 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2018-10-15
	5.24 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2018-10-15
	2.43 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2018-10-15
	3.35 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2018-10-15
	655. MANULIFE FINANCIAL CORP		2015-12-18	2018-10-15
	80. TJX COMPANIES INC		2012-08-28	2018-10-15
	60. UNION PACIFIC CORP		2012-08-28	2018-10-15
	22717.987 ABERDEEN EMERG MARKETS-INST 840			2018-10-19
	3694. ISHARES MSCI EMERGING MARKETS		2016-12-09	2018-10-19
	9768. JP MORGAN ALERIAN MLP INDEX			2018-10-19
	14058.454 T ROWE PR REAL ESTATE-I #432			2018-10-19
	1606. SPDR DJ WILSHIRE INTERNATIONAL REAL		2018-02-14	2018-10-19
	6520. E-TRACS ALERIAN MLP INFRASTRUCTURE		2017-10-26	2018-10-19
	9. ALLIANCE DATA SYS CORP		2018-08-15	2018-10-22
	25. AMPHENOL CORP CL A		2012-09-04	2018-10-22
	36. BERKLEY W R CORP		2012-09-04	2018-10-22
	105. BROOKFIELD ASSET MANAGE-CL A		2012-09-04	2018-10-22
	164. BROWN & BROWN INC			2018-10-22
	31. BROWN FORMAN CORP CL B		2012-09-04	2018-10-22
	67. CDW CORP/DE		2014-05-22	2018-10-22
	64. CARMAX INC		2012-09-04	2018-10-22
	67. COPART INC COM			2018-10-22
	29. CROWN CASTLE INTL CORP		2015-09-25	2018-10-22
	54. CROWN HLDGS INC		2012-10-10	2018-10-22
	57. DOLLAR TREE INC		2018-07-11	2018-10-22
	64. EXPEDITORS INTL WASH INC		2012-10-12	2018-10-22
	56. FASTENAL CO		2014-01-31	2018-10-22
	50. FLOOR & DECOR HOLDINGS INC		2018-10-11	2018-10-22
	64. GLACIER BANCORP INC MONTANA		2012-09-04	2018-10-22
	24. LABORATORY CRP OF AMER HLDGS		2012-09-04	2018-10-22
	65. LIBERTY BROADBAND CORP		2016-02-08	2018-10-22
	5. MARKEL HOLDINGS		2012-09-04	2018-10-22
	12. MOHAWK INDS INC COM		2018-07-26	2018-10-22
	4. NEWMARKET CORP		2018-02-23	2018-10-22
	14. O'REILLY AUTOMOTIVE INC		2017-07-10	2018-10-22
	80. OCEANEERING INTL INC		2015-02-20	2018-10-22
	43. OMNICOM GROUP		2012-09-04	2018-10-22
	41. ROSS STORES INC			2018-10-22
	54. SCHEIN HENRY INC		2017-09-20	2018-10-22
	20. TJX COMPANIES INC		2017-11-17	2018-10-22
	201. ARCH CAPITAL GROUP LTD		2012-09-04	2018-10-22
	126. AXALTA COATING SYSTEMS LTD		2016-07-07	2018-10-22
	80. IHS MARKIT LTD		2016-07-13	2018-10-22
	94. LIBERTY GLOBAL PLC-SERIES C		2012-09-04	2018-10-22
	2.24 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2018-10-25
	15.88 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2018-10-25
	296.02 FNMA POOL #AS4197 3.500% 1/01/30		2016-08-10	2018-10-25
	40.59 FNMA POOL 836631 5.000% 10/01/20		2007-10-15	2018-10-25
	74.73 FNMA POOL 880971 5.500% 10/01/21		2007-01-08	2018-10-25
	41.07 FNMA POOL 889568 5.500% 3/01/20		2012-03-07	2018-10-25
	118. DAITO TRUST CONS-SPN ADR		2018-01-09	2018-10-29
	72. WPP PLC NEW		2011-11-11	2018-10-29
	31. DASSAULT SYSTEMES S.A. - ADR		2011-11-11	2018-10-30
	30000. LAB CORP OF AMER HLD 2.500% 11/01/18		2016-03-15	2018-11-01
	309. AIR LIQUIDE - ADR			2018-11-15
	65.23 FHLMC POOL G18106 5.500% 3/01/21		2006-03-24	2018-11-15
	79.77 FHLMC POOL J01366 5.500% 4/01/21		2007-10-15	2018-11-15
	99.23 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2018-11-15
	5.28 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2018-11-15
	2.44 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2018-11-15
	3.37 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2018-11-15
	156. BBA AVIATION PLC-UNSPON ADR		2016-06-23	2018-11-21
	122. CSL LTE-SPONSORED ADR		2011-11-11	2018-11-21
	240. WALT DISNEY CO		2018-03-15	2018-11-23
	150. PPG INDUSTRIES INC		2014-11-17	2018-11-23
	480. SCHLUMBERGER LTD			2018-11-23
	295. SMITH A O CORP CL B		2017-08-23	2018-11-23
	2.25 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2018-11-25
	15.97 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2018-11-25
	883.48 FNMA POOL #AS4197 3.500% 1/01/30		2016-08-10	2018-11-25
	210.3 FNMA POOL 836631 5.000% 10/01/20		2007-10-15	2018-11-25
	33.69 FNMA POOL 880971 5.500% 10/01/21		2007-01-08	2018-11-25
	38.92 FNMA POOL 889568 5.500% 3/01/20		2012-03-07	2018-11-25
	23000. ANHEUSER-BUSCH INBEV 2.650% 2/01/21		2018-04-24	2018-11-27
	251. CDW CORP/DE			2018-12-11
	10000. US TREASURY NOTE 3.625% 2/15/20		2010-04-28	2018-12-12
	17000. US TREASURY NOTE 2.625% 8/15/20			2018-12-12
	.5 ITAU UNIBANCO BANCO HOLDING S.A. ADR		2014-06-12	2018-12-13
	122. AIA GROUP LTD - SP ADR		2012-02-09	2018-12-14
	255. FRESENIUS MEDICAL CARE ADR			2018-12-14
	36.68 FHLMC POOL G18106 5.500% 3/01/21		2006-03-24	2018-12-15
	80.12 FHLMC POOL J01366 5.500% 4/01/21		2007-10-15	2018-12-15
	99.36 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2018-12-15
	5.31 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2018-12-15
	83.4 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2018-12-15
	3.39 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2018-12-15
	2.27 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2018-12-25
	16.06 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2018-12-25
	299.27 FNMA POOL #AS4197 3.500% 1/01/30		2016-08-10	2018-12-25
	29.47 FNMA POOL 836631 5.000% 10/01/20		2007-10-15	2018-12-25
	34.57 FNMA POOL 880971 5.500% 10/01/21		2007-01-08	2018-12-25
	40.29 FNMA POOL 889568 5.500% 3/01/20		2012-03-07	2018-12-25
	541. OCEANEERING INTL INC			2018-12-26
	429.00504 FANUC LTD ADR			2019-01-07
	73.99496 FANUC LTD ADR			2019-01-07
	103. WEIBO CORP-SPON ADR			2019-01-07
	35. WEIBO CORP-SPON ADR		2018-10-03	2019-01-07
	5169. ISHARES FTSE EPRA/NAREIT GLO		2018-10-19	2019-01-08
	1765.517 T ROWE PR REAL ESTATE-I #432		2016-01-07	2019-01-08
	3728.988 T ROWE PR REAL ESTATE-I #432		2018-02-02	2019-01-08
	25000. AT&T INC 3.950% 1/15/25		2016-03-22	2019-01-09
	150. AMERIPRISE FINL INC			2019-01-09
	22000. ANHEUSER-BUSCH INBEV 2.650% 2/01/21		2018-04-24	2019-01-09
	85. CENTENE CORP DEL		2016-05-31	2019-01-09
	45000. FED NATL MTG ASSN 2.375% 1/19/23		2018-03-13	2019-01-09
	30000. LABORATORY CORP OF 3.600% 2/01/25		2018-11-01	2019-01-09
	50000. MORGAN STANLEY 3.875% 4/29/24		2014-06-11	2019-01-09
	10000. STATE STREET CORP 4.375% 3/07/21		2015-01-27	2019-01-09
	25000. SUNTRUST BANKS INC 2.700% 1/27/22		2017-05-12	2019-01-09
	35000. US TREASURY NOTE 2.625% 6/15/21		2018-07-05	2019-01-09
	28000. US TREASURY NOTE 2.625% 8/15/20		2010-10-26	2019-01-09
	25000. U S TREASURY NT 3.125% 5/25/21		2011-06-28	2019-01-09
	20000. US TREASURY NOTE 1.625% 10/31/23		2016-12-01	2019-01-09
	50. VISA INC-CLASS A SHRS		2014-11-17	2019-01-09
	60. WABCO HOLDINGS INC		2016-05-31	2019-01-09
	55.94 FHLMC POOL G18106 5.500% 3/01/21		2006-03-24	2019-01-15
	84.47 FHLMC POOL J01366 5.500% 4/01/21		2007-10-15	2019-01-15
	99.69 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2019-01-15
	5.33 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2019-01-15
	2.13 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2019-01-15
	3.42 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2019-01-15
	480. OMNICOM GROUP			2019-01-16
	2.28 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2019-01-25
	16.15 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2019-01-25
	561.77 FNMA POOL #AS4197 3.500% 1/01/30		2016-08-10	2019-01-25
	28.99 FNMA POOL 836631 5.000% 10/01/20		2007-10-15	2019-01-25
	35.3 FNMA POOL 880971 5.500% 10/01/21		2007-01-08	2019-01-25
	34.32 FNMA POOL 889568 5.500% 3/01/20		2012-03-07	2019-01-25
	209. NASPERS LTD-N SHS SPON ADR			2019-01-25
	4265.608 TOUCHSTONE SMALL CAP CORE-IN 555		2013-06-13	2019-01-30
	32. CANADIAN NATL RR CO COM		2011-11-11	2019-02-07
	232. GRUPO FIN BANORTE-SPON ADR			2019-02-07
	121. TENARIS S.A. - ADR		2016-05-23	2019-02-07
	151. LVMH MOET HENNESSY UNSP ADR - ADR		2011-11-11	2019-02-08
	20. LVMH MOET HENNESSY UNSP ADR - ADR		2019-01-10	2019-02-08
	36.4 FHLMC POOL G18106 5.500% 3/01/21		2006-03-24	2019-02-15
	113.9 FHLMC POOL J01366 5.500% 4/01/21		2007-10-15	2019-02-15
	100.01 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2019-02-15
	5.36 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2019-02-15
	2.87 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2019-02-15
	3.44 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2019-02-15
	225. COVETRUS INC			2019-02-21
	562. SCHEIN HENRY INC			2019-02-22
	2.43 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2019-02-25
	16.24 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2019-02-25
	288.46 FNMA POOL #AS4197 3.500% 1/01/30		2016-08-10	2019-02-25
	29.63 FNMA POOL 836631 5.000% 10/01/20		2007-10-15	2019-02-25
	33.03 FNMA POOL 880971 5.500% 10/01/21		2007-01-08	2019-02-25
	42.27 FNMA POOL 889568 5.500% 3/01/20		2012-03-07	2019-02-25
	620. COMCAST CORP CLASS A		2012-08-28	2019-02-26
	15000. US TREASURY NOTE 2.625% 2/28/23		2018-03-13	2019-02-27
	35000. US TREASURY NOTE 2.625% 6/15/21		2018-07-05	2019-02-27
	65. BROADCOM INC		2017-08-29	2019-03-05
	30. TRANSDIGM GROUP INC			2019-03-05
	379. AIR LIQUIDE - ADR			2019-03-11
	42. DASSAULT SYSTEMES S.A. - ADR		2011-11-11	2019-03-11
	410. ITAU UNIBANCO BANCO HOLDING S.A. ADR			2019-03-11
	30000. LAZARD GROUP LLC 4.250% 11/14/20		2018-08-20	2019-03-11
	386. MONOTARO CO LTD-UNSP ADR			2019-03-11
	154. ROYAL DUTCH SHELL PLC ADR			2019-03-11
	4330. ISHARES CORE S&P SMALL-CAP E		2018-02-14	2019-03-13
	270. AT & T INC		2018-04-19	2019-03-14
	35. ALIGN TECHNOLOGY INC		2019-01-10	2019-03-14
	10. ALPHABET INC/CA		2018-07-18	2019-03-14
	25. ALPHABET INC/CA			2019-03-14
	5. AMAZON COM INC COM		2014-10-03	2019-03-14
	10. AMAZON COM INC COM		2019-01-10	2019-03-14
	60. APPLE INC		2019-01-10	2019-03-14
	30. APPLE INC			2019-03-14
	45. APPLE INC		2019-03-05	2019-03-14
	20. BLACKROCK INC			2019-03-14
	5. BOOKING HOLDINGS INC		2019-01-10	2019-03-14
	190. BOSTON SCIENTIFIC CORP COM		2019-01-10	2019-03-14
	15. BOSTON SCIENTIFIC CORP COM		2015-04-14	2019-03-14
	30. BROADCOM INC		2019-01-10	2019-03-14
	50. CME GROUP INC		2019-01-10	2019-03-14
	123. CVS HEALTH CORPORATION		2017-08-10	2019-03-14
	17. CVS HEALTH CORPORATION		2019-01-10	2019-03-14
	25. CISCO SYSTEMS INC		2012-08-28	2019-03-14
	180. CISCO SYSTEMS INC		2019-01-10	2019-03-14
	125. CITIGROUP INC		2014-03-25	2019-03-14
	170. COCA COLA CO		2018-11-23	2019-03-14
	110. COGNIZANT TECH SOLUTIONS CRP COM		2019-01-10	2019-03-14
	10. CONSTELLATION BRANDS INC		2019-01-10	2019-03-14
	50. CONSTELLATION BRANDS INC		2017-03-08	2019-03-14
	51. DANAHER CORP		2019-01-10	2019-03-14
	14. DANAHER CORP		2018-02-06	2019-03-14
	55. DIAGEO PLC - ADR		2018-11-23	2019-03-14
	45. ECOLAB INC		2019-01-10	2019-03-14
	15. FACEBOOK INC		2014-11-17	2019-03-14
	70. FACEBOOK INC		2019-01-10	2019-03-14
	20. FORTIVE CORP		2016-08-12	2019-03-14
	75. FORTIVE CORP		2018-05-10	2019-03-14
	5. GILEAD SCIENCES INC		2017-03-28	2019-03-14
	115. GILEAD SCIENCES INC		2019-01-10	2019-03-14
	40. HOME DEPOT INC		2019-01-10	2019-03-14
	5. HOME DEPOT INC		2017-03-31	2019-03-14
	5. HOME DEPOT INC		2014-01-23	2019-03-14
	40. HOME DEPOT INC		2019-01-10	2019-03-14
	105. INTERCONTINENTALEXCHANGE GROUPINC		2019-01-10	2019-03-14
	85. JPMORGAN CHASE & CO			2019-03-14
	130. LAS VEGAS SANDS CORP		2018-07-30	2019-03-14
	55. ESTEE LAUDER COMPANIES INC		2019-01-10	2019-03-14
	65. ELI LILLY & CO COM		2016-10-04	2019-03-14
	305. MANULIFE FINANCIAL CORP		2019-01-10	2019-03-14
	145. MANULIFE FINANCIAL CORP		2015-12-18	2019-03-14
	95. MERCK & CO INC NEW		2016-04-26	2019-03-14
	25. MICROSOFT CORP			2019-03-14
	140. MICROSOFT CORP		2019-01-10	2019-03-14
	205. MICROSOFT CORP			2019-03-14
	60. MIDDLEBY CORP		2018-03-15	2019-03-14
	170. MONDELEZ INTERNATIONAL INC		2018-07-30	2019-03-14
	130. MONSTER BEVERAGE CORP		2019-01-10	2019-03-14
	185. MORGAN STANLEY		2018-01-03	2019-03-14
	25. NETFLIX.COM INC		2019-01-10	2019-03-14
	90. NIKE INC CL B		2019-01-10	2019-03-14
	30. NIKE INC CL B		2017-11-01	2019-03-14
	60. PNC FINANCIAL SERVICES GROUP		2015-05-27	2019-03-14
	75. PRA HEALTH SCIENCES INC		2018-02-06	2019-03-14
	50. PALO ALTO NETWORKS INC		2017-11-30	2019-03-14
	50. POOL CORPORATION		2019-01-10	2019-03-14
	230. ROCHE HOLDINGS LTD - ADR		2015-02-27	2019-03-14
	40. S&P GLOBAL INC		2019-01-10	2019-03-14
	50. SALESFORCE COM INC		2019-01-10	2019-03-14
	5. SALESFORCE COM INC		2014-09-30	2019-03-14
	240. SUNCOR ENERGY INC NEW F		2018-11-23	2019-03-14
	30. THERMO FISHER SCIENTIFIC INC		2019-01-10	2019-03-14
	160. TOTAL S.A. - ADR		2019-01-10	2019-03-14
	20. TRANSDIGM GROUP INC		2018-11-23	2019-03-14
	25. ULTA SALON COSMETICS & FRAGRAN		2017-06-23	2019-03-14
	25. ULTIMATE SOFTWARE GROUP INC		2017-11-30	2019-03-14
	70. UNITED PARCEL SERVICE-CL B		2018-11-23	2019-03-14
	30. UNITED PARCEL SERVICE-CL B		2017-03-28	2019-03-14
	35. UNITEDHEALTH GROUP INC		2019-01-10	2019-03-14
	10. UNITEDHEALTH GROUP INC		2012-04-19	2019-03-14
	45. VERTEX PHARMACEUTICALS INC COM		2019-01-10	2019-03-14
	85. WORLDPAY INC		2019-01-10	2019-03-14
	5. WORLDPAY INC		2016-08-12	2019-03-14
	80. ZOETIS INC		2019-01-10	2019-03-14
	55. ALLERGAN PLC			2019-03-14
	50. ACCENTURE PLC		2019-01-10	2019-03-14
	95. EATON CORP PLC		2019-01-10	2019-03-14
	60. JAZZ PHARMACEUTICALS PLC		2014-11-17	2019-03-14
	140. NORWEGIAN CRUISE LINE HOLDING		2015-05-28	2019-03-14
	95. TE CONNECTIVITY LTD		2017-05-22	2019-03-14
	50.59 FHLMC POOL G18106 5.500% 3/01/21		2006-03-24	2019-03-15
	78.78 FHLMC POOL J01366 5.500% 4/01/21		2007-10-15	2019-03-15
	100.59 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2019-03-15
	5.39 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2019-03-15
	2.66 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2019-03-15
	3.47 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2019-03-15
	452. TJX COMPANIES INC			2019-03-18
	45778.23 BLACKROCK GL L/S CREDIT-K #1940		2018-02-14	2019-03-25
	2.42 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2019-03-25
	16.33 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2019-03-25
	310.05 FNMA POOL #AS4197 3.500% 1/01/30		2016-08-10	2019-03-25
	28.79 FNMA POOL 836631 5.000% 10/01/20		2007-10-15	2019-03-25
	31. FNMA POOL 880971 5.500% 10/01/21		2007-01-08	2019-03-25
	30.18 FNMA POOL 889568 5.500% 3/01/20		2012-03-07	2019-03-25
	125. WABCO HOLDINGS INC		2016-05-31	2019-03-25
	92. AIA GROUP LTD - SP ADR			2019-03-29
	86. ALLIANZ SE ADR		2011-11-11	2019-03-29
	24. MULTICHOICE GROUP LTD			2019-03-29
	806. BAYER AG - ADR			2019-04-08
	70. BAYER AG - ADR		2019-01-10	2019-04-08
	8000. US TREASURY NOTE 2.625% 2/28/23		2018-03-13	2019-04-11
	30000. US TREASURY NOTE 1.625% 5/15/23		2013-07-30	2019-04-11
	25000. US TREASURY NOTE 2.750% 11/15/23		2014-01-30	2019-04-11
	556. CROWN HLDGS INC			2019-04-12
	37.85 FHLMC POOL G18106 5.500% 3/01/21		2006-03-24	2019-04-15
	77.43 FHLMC POOL J01366 5.500% 4/01/21		2007-10-15	2019-04-15
	101.11 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2019-04-15
	5.42 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2019-04-15
	2.19 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2019-04-15
	3.49 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2019-04-15
	.5 BERKLEY W R CORP		2012-09-04	2019-04-23
	90. BERSHIRE HATHAWAY INC.		2012-08-28	2019-04-23
	35. BERSHIRE HATHAWAY INC.		2018-11-23	2019-04-23
	2.64 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2019-04-25
	16.43 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2019-04-25
	297.03 FNMA POOL #AS4197 3.500% 1/01/30		2016-08-10	2019-04-25
	28.89 FNMA POOL 836631 5.000% 10/01/20		2007-10-15	2019-04-25
	101.13 FNMA POOL 880971 5.500% 10/01/21		2007-01-08	2019-04-25
	33.92 FNMA POOL 889568 5.500% 3/01/20		2012-03-07	2019-04-25
	327. EXPEDITORS INTL WASH INC			2019-05-01
	85. ULTIMATE SOFTWARE GROUP INC		2017-11-30	2019-05-03
	25000. CELGENE CORP 2.875% 8/17/20		2016-06-16	2019-05-08
	30000. MANUFACTURERS & TRAD 2.100% 2/06/20		2015-04-24	2019-05-08
	80. ELECTRONIC ARTS INC		2019-02-26	2019-05-09
	44.08 FHLMC POOL G18106 5.500% 3/01/21		2006-03-24	2019-05-15
	88.95 FHLMC POOL J01366 5.500% 4/01/21		2007-10-15	2019-05-15
	101.44 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2019-05-15
	5.45 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2019-05-15
	2.93 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2019-05-15
	3.52 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2019-05-15
	60. APPLE INC			2019-05-21
	25000. CELGENE CORP 3.875% 8/15/25		2019-05-08	2019-05-21
	10. VISA INC-CLASS A SHRS		2014-08-27	2019-05-21
	65. VISA INC-CLASS A SHRS		2019-03-05	2019-05-21
	153. JGC CORP-UNSPONSORED ADR			2019-05-23
	13. JGC CORP-UNSPONSORED ADR		2013-05-08	2019-05-24
	2.33 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2019-05-25
	16.52 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2019-05-25
	859.37 FNMA POOL #AS4197 3.500% 1/01/30		2016-08-10	2019-05-25
	29.02 FNMA POOL 836631 5.000% 10/01/20		2007-10-15	2019-05-25
	29.21 FNMA POOL 880971 5.500% 10/01/21		2007-01-08	2019-05-25
	28.57 FNMA POOL 889568 5.500% 3/01/20		2012-03-07	2019-05-25
	40. PARK24 CO LTD-SPN ADR		2016-02-01	2019-05-30
	166. PARK24 CO LTD-SPN ADR		2016-02-01	2019-05-31
	297. CROWN CASTLE INTL CORP			2019-06-11
	80. WALT DISNEY CO			2019-06-14
	620. ROCHE HOLDINGS LTD - ADR			2019-06-14
	260. ROCHE HOLDINGS LTD - ADR		2019-01-10	2019-06-14
	35.67 FHLMC POOL G18106 5.500% 3/01/21		2006-03-24	2019-06-15
	70.57 FHLMC POOL J01366 5.500% 4/01/21		2007-10-15	2019-06-15
	101.78 FHLMC POOL #J19244 3.500% 6/01/27		2014-03-10	2019-06-15
	5.48 FHLMC POOL #C59356 6.000% 10/01/31		2001-10-01	2019-06-15
	64.63 FHLMC POOL #C60745 6.000% 11/01/31		2001-11-02	2019-06-15
	3.54 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2019-06-15
	24000. DOW CHEMICAL CO/THE 4.250% 11/15/20			2019-06-19
	2.35 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2019-06-25
	16.61 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2019-06-25
	860.67 FNMA POOL #AS4197 3.500% 1/01/30		2016-08-10	2019-06-25
	29.66 FNMA POOL 836631 5.000% 10/01/20		2007-10-15	2019-06-25
	36.35 FNMA POOL 880971 5.500% 10/01/21		2007-01-08	2019-06-25
	26.71 FNMA POOL 889568 5.500% 3/01/20		2012-03-07	2019-06-25
	95. ALLERGAN PLC			2019-07-01
	45000. ORACLE CORP 5.000% 7/08/19		2017-09-18	2019-07-08
	13. BAYERISCHE MOTOREN			2019-07-09
	143. CISCO SYSTEMS INC		2012-08-28	2019-07-09
	60. UNION PACIFIC CORP		2012-08-28	2019-07-09
	199. BAYERISCHE MOTOREN			2019-07-10
	3.57 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2019-07-15
	52. TEMENOS GROUP AG-SP ADR		2018-05-24	2019-07-15
	10. TEMENOS GROUP AG-SP ADR		2019-01-10	2019-07-15
	29. AIA GROUP LTD - SP ADR		2012-03-30	2019-07-18
	232. BANCO BILBAO VIZCAYA ARGENT- ADR			2019-07-18
	10. SAP SE		2011-11-11	2019-07-18
	29. SONOVA HOLDIN-UNSPON ADR		2011-11-11	2019-07-18
	38. SYSMEX CORP-UNSPON ADR		2012-12-04	2019-07-18
	21. UNILEVER PLC - ADR		2011-11-11	2019-07-18
	7. LINDE PLC		2018-11-15	2019-07-18
	5.51 FHLMC POOL #ZJ5414 6.000% 10/01/31		2001-10-01	2019-07-25
	1.94 FHLMC POOL #ZJ5498 6.000% 11/01/31		2001-11-02	2019-07-25
	102.11 FHLMC POOL #ZK4173 3.500% 6/01/27		2014-03-10	2019-07-25
	73.89 FHLMC POOL #ZK0000 5.500% 4/01/21		2007-10-15	2019-07-25
	39.08 FHLMC POOL #ZS8226 5.500% 3/01/21		2006-03-24	2019-07-25
	2.36 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2019-07-25
	16.71 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2019-07-25
	290.4 FNMA POOL #AS4197 3.500% 1/01/30		2016-08-10	2019-07-25
	30.3 FNMA POOL 836631 5.000% 10/01/20		2007-10-15	2019-07-25
	28.67 FNMA POOL 880971 5.500% 10/01/21		2007-01-08	2019-07-25
	21.69 FNMA POOL 889568 5.500% 3/01/20		2012-03-07	2019-07-25
	5. ALPHABET INC/CA		2018-07-18	2019-07-30
	5. THERMO FISHER SCIENTIFIC INC		2019-01-10	2019-07-30
	40. THERMO FISHER SCIENTIFIC INC		2012-08-28	2019-07-30
	75. ZOETIS INC		2017-04-26	2019-07-30
	10. ZOETIS INC		2019-01-10	2019-07-30
	308. ASPEN PHARMACARE HL-UNSP ADR			2019-08-05
	3.59 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2019-08-15
	978. LIBERTY GLOBAL PLC-SERIES C			2019-08-20
	9501. ISHARES CORE MSCI EMERGING		2018-10-19	2019-08-22
	13000. SHERWIN-WILLIAMS CO 2.750% 6/01/22		2018-03-13	2019-08-23
	5.55 FHLMC POOL #ZJ5414 6.000% 10/01/31		2001-10-01	2019-08-25
	1.95 FHLMC POOL #ZJ5498 6.000% 11/01/31		2001-11-02	2019-08-25
	204.89 FHLMC POOL #ZK4173 3.500% 6/01/27		2014-03-10	2019-08-25
	69.39 FHLMC POOL #ZK0000 5.500% 4/01/21		2007-10-15	2019-08-25
	73.38 FHLMC POOL #ZS8226 5.500% 3/01/21		2006-03-24	2019-08-25
	2.38 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2019-08-25
	16.8 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2019-08-25
	485.59 FNMA POOL #AS4197 3.500% 1/01/30		2016-08-10	2019-08-25
	29.43 FNMA POOL 836631 5.000% 10/01/20		2007-10-15	2019-08-25
	29.15 FNMA POOL 880971 5.500% 10/01/21		2007-01-08	2019-08-25
	8. FNMA POOL 889568 5.500% 3/01/20		2012-03-07	2019-08-25
	.393 FIDELITY NATL INFORMATION SVCS INC		2016-08-12	2019-08-29
	30000. COMCAST CORP 5.150% 3/01/20		2010-02-25	2019-09-03
	45. CME GROUP INC		2012-08-30	2019-09-10
	15. CME GROUP INC		2019-01-10	2019-09-10
	25000. FORD MOTOR CREDIT CO 4.140% 2/15/23		2018-05-11	2019-09-10
	3.62 GNMA POOL #545220 8.000% 12/15/30		2001-05-14	2019-09-15
	35000. TD AMERITRADE HOLDIN 5.600% 12/01/19		2009-11-20	2019-09-18
	5.57 FHLMC POOL #ZJ5414 6.000% 10/01/31		2001-10-01	2019-09-25
	1.96 FHLMC POOL #ZJ5498 6.000% 11/01/31		2001-11-02	2019-09-25
	102.78 FHLMC POOL #ZK4173 3.500% 6/01/27		2014-03-10	2019-09-25
	75.6 FHLMC POOL #ZK0000 5.500% 4/01/21		2007-10-15	2019-09-25
	40.61 FHLMC POOL #ZS8226 5.500% 3/01/21		2006-03-24	2019-09-25
	2.39 FNMA POOL #572221 6.000% 3/01/31		2001-04-06	2019-09-25
	19.81 FNMA POOL #630420 6.000% 3/01/32		2002-03-05	2019-09-25
	563.85 FNMA POOL #AS4197 3.500% 1/01/30		2016-08-10	2019-09-25
	30.08 FNMA POOL 836631 5.000% 10/01/20		2007-10-15	2019-09-25
	29.11 FNMA POOL 880971 5.500% 10/01/21		2007-01-08	2019-09-25
	.77 FNMA POOL 889568 5.500% 3/01/20		2012-03-07	2019-09-25
	50. TAIWAN SEMICONDUCTOR MANUFACTU - ADR			2019-09-27
	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	9,299	4,390	4,909
b	21,028	13,908	7,120
c	19,795	17,199	2,596
d	12,344	5,062	7,282
e	12,896	9,270	3,626
	54	54
	80	79	1
	99	104	-5
	5	5
	2	2
	3	3
	10,107	9,656	451
	8,846	3,676	5,170
	9,144	3,715	5,429
	304,194	325,790	-21,596
	146,465	133,908	12,557
	264,651	403,399	-138,748
	380,000	300,837	79,163
	59,625	62,971	-3,346
	152,465	150,482	1,983
	1,881	2,070	-189
	2,073	1,013	1,060
	2,638	1,621	1,017
	4,401	2,726	1,675
	4,769	2,695	2,074
	1,482	1,010	472
	5,525	2,514	3,011
	4,401	3,190	1,211
	3,378	1,231	2,147
	3,079	2,626	453
	2,437	2,195	242
	4,764	4,772	-8
	4,298	2,704	1,594
	2,899	2,506	393
	1,307	1,407	-100
	2,595	1,700	895
	4,068	2,454	1,614
	5,383	4,288	1,095
	5,471	2,845	2,626
	1,788	2,158	-370
	1,519	1,648	-129
	4,825	2,505	2,320
	1,864	2,799	-935
	3,341	2,746	595
	3,971	1,758	2,213
	4,443	4,134	309
	2,177	1,456	721
	5,485	4,806	679
	3,179	3,503	-324
	4,152	2,846	1,306
	2,386	2,567	-181
	2	2
	16	16
	296	315	-19
	41	40	1
	75	75
	41	45	-4
	3,965	5,861	-1,896
	3,967	3,874	93
	3,726	1,282	2,444
	30,000	30,262	-262
	7,394	6,347	1,047
	65	65
	80	80
	99	104	-5
	5	5
	2	2
	3	3
	2,338	2,562	-224
	7,849	1,947	5,902
	26,934	24,990	1,944
	16,101	16,209	-108
	21,986	36,419	-14,433
	13,547	15,997	-2,450
	2	2
	16	16
	883	939	-56
	210	209	1
	34	34
	39	43	-4
	22,706	22,780	-74
	22,810	9,419	13,391
	10,096	9,904	192
	16,956	17,214	-258
	5	6	-1
	3,966	1,843	2,123
	8,660	9,618	-958
	37	37
	80	80
	99	104	-5
	5	5
	83	84	-1
	3	4	-1
	2	2
	16	16
	299	318	-19
	29	29
	35	35
	40	44	-4
	5,880	18,930	-13,050
	6,616	6,840	-224
	1,141	1,180	-39
	6,370	9,793	-3,423
	2,165	3,328	-1,163
	144,006	143,802	204
	44,985	37,780	7,205
	95,015	79,797	15,218
	24,610	25,916	-1,306
	16,864	16,022	842
	21,660	21,790	-130
	10,050	5,303	4,747
	44,547	44,407	140
	28,838	28,849	-11
	49,723	50,406	-683
	10,248	11,128	-880
	24,324	25,145	-821
	35,056	35,001	55
	28,005	28,009	-4
	25,320	25,194	126
	19,155	19,195	-40
	6,928	2,800	4,128
	6,564	6,469	95
	56	56
	84	84
	100	105	-5
	5	5
	2	2
	3	4	-1
	35,843	30,652	5,191
	2	2
	16	16
	562	597	-35
	29	29
	35	35
	34	38	-4
	9,284	6,027	3,257
	48,287	82,284	-33,997
	2,639	1,386	1,253
	6,421	5,567	854
	3,017	3,130	-113
	9,677	5,344	4,333
	1,282	708	574
	36	36
	114	114
	100	105	-5
	5	5
	3	3
	3	4	-1
	7,980	9,466	-1,486
	34,374	33,561	813
	2	2
	16	16
	288	306	-18
	30	30
	33	33
	42	46	-4
	23,947	10,546	13,401
	15,080	14,995	85
	35,109	35,001	108
	18,039	15,783	2,256
	12,864	10,307	2,557
	9,447	7,924	1,523
	6,093	2,051	4,042
	3,902	4,734	-832
	30,665	30,612	53
	8,858	2,153	6,705
	9,611	7,453	2,158
	339,814	326,008	13,806
	8,159	9,497	-1,338
	8,594	6,915	1,679
	11,889	11,976	-87
	29,724	26,693	3,031
	8,478	1,703	6,775
	16,955	16,545	410
	11,031	9,160	1,871
	5,516	2,808	2,708
	8,274	7,900	374
	8,648	7,955	693
	8,739	8,350	389
	7,602	6,810	792
	600	269	331
	8,110	7,468	642
	8,354	8,949	-595
	6,885	9,783	-2,898
	952	1,124	-172
	1,321	460	861
	9,515	7,745	1,770
	8,009	6,264	1,745
	7,797	8,350	-553
	7,806	7,085	721
	1,701	1,596	105
	8,506	7,820	686
	6,506	5,302	1,204
	1,786	1,363	423
	8,896	7,892	1,004
	7,804	6,696	1,108
	2,559	1,129	1,430
	11,942	10,001	1,941
	1,654	1,051	603
	6,201	5,663	538
	323	335	-12
	7,427	7,818	-391
	7,246	7,118	128
	906	735	171
	906	431	475
	7,246	7,118	128
	7,735	7,632	103
	8,965	9,080	-115
	7,611	9,163	-1,552
	8,786	6,814	1,972
	7,984	5,271	2,713
	5,127	4,759	368
	2,437	2,138	299
	7,719	5,324	2,395
	2,865	1,207	1,658
	16,042	14,482	1,560
	23,491	21,287	2,204
	7,622	7,888	-266
	8,048	7,313	735
	7,751	6,816	935
	7,883	9,714	-1,831
	9,016	8,100	916
	7,784	6,931	853
	2,595	1,652	943
	7,773	5,758	2,015
	7,779	6,651	1,128
	12,133	7,298	4,835
	7,968	7,660	308
	7,861	7,838	23
	8,040	7,002	1,038
	8,034	7,268	766
	803	308	495
	8,057	7,842	215
	7,810	7,137	673
	9,323	8,788	535
	8,865	6,834	2,031
	7,872	7,129	743
	8,290	5,260	3,030
	7,745	7,652	93
	3,319	3,185	134
	8,876	8,529	347
	2,536	541	1,995
	8,376	8,297	79
	8,311	6,714	1,597
	489	272	217
	7,698	6,840	858
	8,254	16,003	-7,749
	8,212	7,337	875
	7,668	6,620	1,048
	8,070	10,129	-2,059
	7,665	7,667	-2
	7,912	7,169	743
	51	51
	79	79
	101	106	-5
	5	5
	3	3
	3	4	-1
	23,384	16,457	6,927
	450,000	477,009	-27,009
	2	2
	16	16
	310	329	-19
	29	29
	31	31
	30	33	-3
	17,650	13,476	4,174
	3,604	1,548	2,056
	1,907	1,181	726
	198	159	39
	13,817	20,848	-7,031
	1,200	1,811	-611
	8,093	7,997	96
	29,348	29,078	270
	25,466	25,058	408
	31,543	22,599	8,944
	38	38
	77	77
	101	106	-5
	5	5
	2	2
	3	4	-1
	29	15	14
	18,887	7,668	11,219
	7,345	7,283	62
	3	3
	16	16
	297	316	-19
	29	29
	101	101
	34	37	-3
	25,506	13,817	11,689
	28,178	17,883	10,295
	25,002	25,815	-813
	29,863	30,146	-283
	7,495	7,836	-341
	44	44
	89	89
	101	107	-6
	5	5
	3	3
	4	4
	11,255	9,366	1,889
	26,001	25,802	199
	1,637	560	1,077
	10,638	9,627	1,011
	3,901	9,021	-5,120
	322	767	-445
	2	2
	17	16	1
	859	913	-54
	29	29
	29	29
	29	31	-2
	784	1,125	-341
	3,122	4,670	-1,548
	40,066	26,898	13,168
	11,323	5,928	5,395
	21,389	20,238	1,151
	8,970	8,489	481
	36	36
	71	70	1
	102	107	-5
	5	5
	65	65
	4	4
	24,664	24,905	-241
	2	2
	17	16	1
	861	914	-53
	30	30
	36	36
	27	29	-2
	15,890	18,286	-2,396
	45,000	47,686	-2,686
	319	428	-109
	8,069	2,632	5,437
	10,163	3,715	6,448
	4,883	6,550	-1,667
	4	4
	9,281	7,470	1,811
	1,785	1,437	348
	1,272	488	784
	1,250	1,724	-474
	1,269	782	487
	1,308	670	638
	1,288	481	807
	1,324	806	518
	1,416	1,095	321
	6	5	1
	2	2
	102	107	-5
	74	74
	39	39
	2	2
	17	17
	290	309	-19
	30	30
	29	29
	22	24	-2
	6,139	5,988	151
	1,424	1,190	234
	11,390	2,258	9,132
	8,670	4,156	4,514
	1,156	855	301
	1,737	6,888	-5,151
	4	4
	25,412	26,709	-1,297
	452,908	455,477	-2,569
	13,307	12,767	540
	6	6
	2	2
	205	215	-10
	69	69
	73	73
	2	2
	17	17
	486	516	-30
	29	29
	29	29
	8	9	-1
	54	23	31
	30,441	29,970	471
	9,244	2,441	6,803
	3,081	2,685	396
	25,225	24,986	239
	4	4
	35,229	34,952	277
	6	6
	2	2
	103	108	-5
	76	75	1
	41	41
	2	2
	20	20
	564	599	-35
	30	30
	29	29
	1	1
	2,268	1,019	1,249
			68,982

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			4,909
b			7,120
c			2,596
d			7,282
e			3,626

			1
			-5



			451
			5,170
			5,429
			-21,596
			12,557
			-138,748
			79,163
			-3,346
			1,983
			-189
			1,060
			1,017
			1,675
			2,074
			472
			3,011
			1,211
			2,147
			453
			242
			-8
			1,594
			393
			-100
			895
			1,614
			1,095
			2,626
			-370
			-129
			2,320
			-935
			595
			2,213
			309
			721
			679
			-324
			1,306
			-181


			-19
			1

			-4
			-1,896
			93
			2,444
			-262
			1,047


			-5



			-224
			5,902
			1,944
			-108
			-14,433
			-2,450


			-56
			1

			-4
			-74
			13,391
			192
			-258
			-1
			2,123
			-958


			-5

			-1
			-1


			-19


			-4
			-13,050
			-224
			-39
			-3,423
			-1,163
			204
			7,205
			15,218
			-1,306
			842
			-130
			4,747
			140
			-11
			-683
			-880
			-821
			55
			-4
			126
			-40
			4,128
			95


			-5


			-1
			5,191


			-35


			-4
			3,257
			-33,997
			1,253
			854
			-113
			4,333
			574


			-5


			-1
			-1,486
			813


			-18


			-4
			13,401
			85
			108
			2,256
			2,557
			1,523
			4,042
			-832
			53
			6,705
			2,158
			13,806
			-1,338
			1,679
			-87
			3,031
			6,775
			410
			1,871
			2,708
			374
			693
			389
			792
			331
			642
			-595
			-2,898
			-172
			861
			1,770
			1,745
			-553
			721
			105
			686
			1,204
			423
			1,004
			1,108
			1,430
			1,941
			603
			538
			-12
			-391
			128
			171
			475
			128
			103
			-115
			-1,552
			1,972
			2,713
			368
			299
			2,395
			1,658
			1,560
			2,204
			-266
			735
			935
			-1,831
			916
			853
			943
			2,015
			1,128
			4,835
			308
			23
			1,038
			766
			495
			215
			673
			535
			2,031
			743
			3,030
			93
			134
			347
			1,995
			79
			1,597
			217
			858
			-7,749
			875
			1,048
			-2,059
			-2
			743


			-5


			-1
			6,927
			-27,009


			-19


			-3
			4,174
			2,056
			726
			39
			-7,031
			-611
			96
			270
			408
			8,944


			-5


			-1
			14
			11,219
			62


			-19


			-3
			11,689
			10,295
			-813
			-283
			-341


			-6



			1,889
			199
			1,077
			1,011
			-5,120
			-445

			1
			-54


			-2
			-341
			-1,548
			13,168
			5,395
			1,151
			481

			1
			-5



			-241

			1
			-53


			-2
			-2,396
			-2,686
			-109
			5,437
			6,448
			-1,667

			1,811
			348
			784
			-474
			487
			638
			807
			518
			321
			1

			-5




			-19


			-2
			151
			234
			9,132
			4,514
			301
			-5,151

			-1,297
			-2,569
			540


			-10




			-30


			-1
			31
			471
			6,803
			396
			239

			277


			-5
			1



			-35



			1,249

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	228,685
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	590,418	14,268,429	0.041379
2016	263,982	14,670,236	0.017994
2015	464,846	14,227,996	0.032671
2014	930,014	15,151,687	0.06138
2013	962,624	15,718,323	0.061242

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

0.214666

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 ......

0.042933

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

15,195,421

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

652,385

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

4,009

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

656,394

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

699,867

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	4,009
	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	4,009
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	4,009
6	Credits/Payments:

a	2018 estimated tax payments and 2017 overpayment credited to 2018	6a	11,140
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	11,140
8	Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached.		8	0
9	Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......		9
10	Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...		10	7,131
11	Enter the amount of line 10 to be: Credited to 2019 estimated tax4,012	Refunded	11	3,119

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

The books are in care of bullet

Wells Fargo Bank NA Telephone no. bullet

(888) 730-4933

Located at bullet

100 N MAIN STWINSTON 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-)
Wells Fargo Bank NA	Co-Trustee 1	110,430
100 N MAIN ST MAC D4001-117 WINSTON SALEM,NC27101	Co-Trustee 1	110,430
Paul K Guibao	President 2	20,000
1525 West WT Harris Blvd D1114-044 Charlotte,NC282885709	President 2	20,000
Renee C Guibao	Governor 1	16,000
1525 W WT Harris Blvd D1114-044 Charlotte,NC282885709	Governor 1	16,000
Arete Warren	Co-Trustee 40	110,430
520 East 86 Street Apt 11B New York,NY10028	Co-Trustee 40	110,430

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

14,395,540

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

1,031,283

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

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

15,426,823

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

15,426,823

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

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

231,402

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

15,195,421

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

759,771

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

759,771

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

4,009

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

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

4,009

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

755,762

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

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

755,762

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

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

755,762

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 ..........

699,867

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

699,867

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

4,009

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

695,858

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					755,762
2 Undistributed income, if any, as of the end of 2018:
a Enter amount for 2017 only.......				37,196
b Total for prior years:20, 20, 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: $ 699,867
a Applied to 2017, but not more than line 2a				37,196
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.....					662,671
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 ..........					93,091
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).)

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.

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 e-mail address of the person to whom applications should be addressed:

Wells Fargo Philanthroic Services
1 West 4th St
Winston Salem,NC27101
(888) 234-1999
N/A

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

Applications must be submitted through the online grant application to grantadministration@wellsfargo.com

cAny submission deadlines:

February 15th

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

Primarily to organizations benefitting arts, culture, humaninites, and education in the Memphis, Miami, and New York City areas.

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
ISABELLA STEWART GARDNER MUSEUM INC 25 EVANS WAY Boston,MA02115	NONE	PC	GENERAL OPERATING	50,000
NEW WORLD SYMPHONY 500 17TH STREET Miami Beach,FL33139	NONE	PC	GENERAL OPERATING	25,000
ACADEMY OF AMERICAN POETS 75 MAIDEN LANE SUITE 901 New York,NY10038	NONE	PC	GENERAL OPERATING	10,000
BROOKLYN ACADEMY OF MUSIC INC 30 LAFAYETTE AVE Brooklyn,NY11217	NONE	PC	GENERAL OPERATING	50,000
PIERPONT MORGAN LIBRARY 225 MADISON AVE New York,NY10016	NONE	PC	GENERAL OPERATING	50,000
NEW YORK BOTANICAL GARDEN 2900 SOUTHERN BLVD SOUTHERN BLVD,NY10458	NONE	PC	GENERAL OPERATING	15,000
WHITNEY MUSEUM OF AMERICAN ART 99 GANSEVOORT ST New York,NY10014	NONE	PC	GENERAL OPERATING	25,000
BOGLIASCO FOUNDATION INC 1 E 53RD ST 8TH FLOOR New York,NY10022	NONE	PC	GENERAL OPERATING	23,000
CORPORATION OF YADDO 312 UNION AVE Saratoga Springs,NY12866	NONE	PC	GENERAL OPERATING	25,000
GLIMMERGLASS OPERA THEATRE THE GLIMMERGLASS FESTIVAL Cooperstown,NY13326	NONE	PC	GENERAL OPERATING	50,000
IRIS ORCHESTRA 1801 EXETER RD Germantown,TN38138	NONE	PC	GENERAL OPERATING	15,000
OPERA AMERICA INC 330 SEVENTH AVENUE 18TH FLOOR New York,NY10001	NONE	PC	GENERAL OPERATING	25,000
Circuit Playhouse on the Square 66 SOUTH COOPER ST Memphis,TN38104	NONE	PC	FIRST INSTALL PLEDGE FOR	150,000
PRESERVATION LEAGUE OF NEW YORK STATE 44 CENTRAL AVENUE ALBANY,NY12206	NONE	PC	GENERAL OPERATING	50,000
INDIE MEMPHIS 1910 MADISON AVENUE PMB 632 Memphis,TN38104	NONE	PC	GENERAL OPERATING	20,000
THEATRE MEMPHIS 630 PERKINS EXTENDED Memphis,TN38117	NONE	PC	GENERAL OPERATING	50,000
Total ................................. 3a				633,000

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	377,955
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	228,685
9 Net income or (loss) from special events:
10 Gross profit or (loss) from sales of inventory
11 Other revenue: aOTHER INCOME			1	2,700
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e)..				609,340

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

609,340

(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	981			981

- TIN:

TY 2018 InvestmentsOtherSchedule2

Name:

ADAMS ARTHUR & ALICE FDN

EIN:

65-6003785

Category/ Item	Listed at Cost or FMV	Book Value	End of Year Fair Market Value
22544R305 CREDIT SUISSE COMM R	AT COST	300,000	269,793
90270RBD5 UBS-BARCLAYS COMMER	AT COST	65,523	65,911
912828P46 US TREASURY NOTE	AT COST	138,314	140,055
912828NT3 US TREASURY NOTE 2.6
31389NK95 FNMA POOL 630420 6.0	AT COST	2,009	2,249
912828U24 US TREASURY NOTE	AT COST	121,290	128,189
9128282R0 US TREASURY NOTE	AT COST	139,331	151,587
40414LAG4 HCP INC 3.150% 8/01/	AT COST	24,900	25,490
097023105 BOEING COMPANY	AT COST	53,461	76,094
375558103 GILEAD SCIENCES INC	AT COST	6,570	13,944
512807108 LAM RESEARCH CORP CO	AT COST	27,793	36,978
26875P101 EOG RESOURCES, INC	AT COST	29,110	19,668
09247X101 BLACKROCK INC	AT COST	25,166	33,423
H84989104 TE CONNECTIVITY LTD	AT COST	38,704	51,156
00206R102 AT & T INC	AT COST	40,815	47,300
12572Q105 CME GROUP INC	AT COST	6,239	24,304
101137107 BOSTON SCIENTIFIC CO	AT COST	15,763	36,011
518439104 ESTEE LAUDER COMPANI	AT COST	9,231	25,864
617446448 MORGAN STANLEY	AT COST	14,504	13,228
191216100 COCA COLA CO	AT COST	31,112	36,475
15135B101 CENTENE CORP DEL	AT COST	10,335	15,141
34959J108 FORTIVE CORP	AT COST	10,423	17,140
79466L302 SALESFORCE COM INC	AT COST	15,390	37,110
983793100 XPO LOGISTICS INC	AT COST	16,200	20,040
45866F104 INTERCONTINENTALEXCH	AT COST	21,024	34,140
072730302 BAYER A G SPONSORED
806857108 SCHLUMBERGER LTD	AT COST	14,150	7,757
803866300 SASOL LIMITED - ADR	AT COST	6,619	2,637
05530H100 BBA AVIATION PLC-UNS
92937A102 WPP PLC NEW
032095101 AMPHENOL CORP NEW	AT COST	20,579	37,539
228368106 CROWN HLDGS INC
G47567105 IHS MARKIT LTD	AT COST	33,197	59,924
12514G108 CDW CORP/DE	AT COST	16,699	54,842
256746108 DOLLAR TREE INC	AT COST	52,745	71,921
SKY990RF9 SKYBRIDGE MULTI-ADVI	AT COST	200,000	201,798
345397ZB2 FORD MOTOR CREDIT CO
61746BDQ6 MORGAN STANLEY 3.875
3135G0T94 FED NATL MTG ASSN	AT COST	19,683	20,497
9128284T4 US TREASURY NOTE
78463X863 SPDR DJ WILSHIRE INT
68389XAG0 ORACLE CORP 5.000% 7
80282KAD8 SANTANDER HOLDINGS	AT COST	24,740	25,048
912828T91 US TREASURY NOTE	AT COST	76,781	80,172
26138EAQ2 DR PEPPER SNAPPLE GR	AT COST	24,618	24,985
34528QEC4 FORD CREDIT FLOORPLA	AT COST	60,516	60,134
609207105 MONDELEZ INTERNATION	AT COST	34,151	44,809
64110L106 NETFLIX.COM INC	AT COST	16,472	25,424
G66721104 NORWEGIAN CRUISE LIN	AT COST	22,504	24,073
778296103 ROSS STORES INC	AT COST	28,523	51,080
37637Q105 GLACIER BANCORP INC	AT COST	17,482	26,623
018581108 ALLIANCE DATA SYS CO	AT COST	25,075	13,966
143130102 CARMAX INC	AT COST	38,218	65,648
277923728 EATON VANCE GLOBAL M	AT COST	200,000	191,247
779919307 T ROWE PR REAL ESTAT	AT COST	554,928	614,147
464287234 ISHARES TR MSCI EMER
92837F763 VIRTUS SEIX FLT RT H	AT COST	196,913	183,800
52107QAF2 LAZARD GROUP LLC 4.2
037833100 APPLE COMPUTER INC C	AT COST	65,192	198,213
254687106 WALT DISNEY CO	AT COST	10,637	29,452
89151E109 TOTAL FINA ELF S.A.	AT COST	38,642	39,520
31298YZJ3 FHLMC POOL C60745 6.
3128MMDL4 FHLMC POOL G18106 5.
7591EPAK6 REGIONS FINANCIAL CO	AT COST	24,913	25,309
912828R36 US TREASURY NOTE	AT COST	80,404	80,038
3138WDUX7 FNMA POOL #AS4197	AT COST	35,242	34,705
38141GWB6 GOLDMAN SACHS GROUP	AT COST	34,215	37,113
3128PCQT2 FHLMC POOL J01366 5.
31410KJM7 FNMA POOL 889568 5.5	AT COST	2	2
192446102 COGNIZANT TECH SOLUT	AT COST	30,780	33,146
437076102 HOME DEPOT INC	AT COST	31,216	66,822
56501R106 MANULIFE FINANCIAL C	AT COST	25,882	31,212
911312106 UNITED PARCEL SERVIC	AT COST	23,364	34,149
87612E106 TARGET CORP	AT COST	17,641	29,935
H42097107 UBS GROUP AG	AT COST	34,584	19,566
58933Y105 MERCK & CO INC NEW	AT COST	19,312	31,988
02079K107 ALPHABET INC/CA	AT COST	76,202	158,470
61174X109 MONSTER BEVERAGE COR	AT COST	13,198	20,902
30303M102 FACEBOOK INC	AT COST	30,492	72,122
049255706 ATLAS COPCO AB SPONS	AT COST	10,661	15,913
04530Y106 ASPEN PHARMACARE HL-
87974R208 TEMENOS GROUP AG-SP
23405X209 DAITO TRUST CONS-SPN
084423102 BERKLEY W R CORP	AT COST	18,044	43,410
311900104 FASTENAL CO	AT COST	26,046	38,028
50540R409 LABORATORY CRP OF AM	AT COST	32,058	49,896
112585104 BROOKFIELD ASSET MAN	AT COST	28,065	57,390
464287804 ISHARES TR SMALLCAP	AT COST	535,994	554,143
87234N765 TCW EMRG MKTS INCM-I	AT COST	1,075,000	1,135,178
3128Q0HV2 FHLMC POOL #J19244
91324PDC3 UNITEDHEALTH GROUP	AT COST	49,696	49,981
55279HAJ9 MANUFACTURERS & TRAD
87236YAA6 TD AMERITRADE HOLDIN
912828MP2 US TREASURY NOTE 3.6
58013MEX8 MCDONALD'S CORP	AT COST	30,477	30,239
56501RAB2 MANULIFE FINANCIAL 4	AT COST	38,456	35,945
867914BM4 SUNTRUST BANKS INC
37045XBS4 GENERAL MOTORS FINL	AT COST	25,381	25,477
448579AD4 HYATT HOTELS CORPS 5	AT COST	22,080	20,905
Y2573F102 FLEXTRONICS INTL LTD	AT COST	28,768	22,500
654106103 NIKE INC CL B	AT COST	24,209	44,142
883556102 THERMO FISHER SCIENT	AT COST	5,645	29,127
405217100 HAIN CELESTIAL GROUP	AT COST	25,081	17,717
084670702 BERSHIRE HATHAWAY IN
150870103 CELANESE CORP	AT COST	22,026	47,693
172967424 CITIGROUP INC	AT COST	29,737	37,994
023135106 AMAZON COM INC	AT COST	17,030	86,796
693506107 PPG INDUSTRIES INC
92532F100 VERTEX PHARMACEUTICA	AT COST	17,679	18,636
981558109 WORLDPAY INC
69354M108 PRA HEALTH SCIENCES	AT COST	17,537	19,350
893641100 TRANSDIGM GROUP INC	AT COST	14,697	33,844
904767704 UNILEVER PLC - ADR	AT COST	6,949	10,878
502117203 L'OREAL - ADR	AT COST	7,674	17,945
87155N109 SYMRISE AG ADR	AT COST	6,131	10,359
701491102 PARK24 CO LTD-SPN AD
502441306 LVMH MOET HENNESSY U
115637209 BROWN FORMAN CORP CL	AT COST	10,468	17,641
89155H256 TOUCHSTONE SMALL CAP
00203H859 AQR MANAGED FUTURES	AT COST	582,000	497,243
74925K581 ROBECO BP LNG/SHRT R	AT COST	697,300	702,558
136375102 CANADIAN NATL RR CO	AT COST	6,369	13,209
641069406 NESTLE S.A. REGISTER	AT COST	15,299	28,184
874039100 TAIWAN SEMICONDUCTOR	AT COST	13,839	31,560
404280406 HSBC - ADR	AT COST	7,664	6,965
018805101 ALLIANZ AKTIENGESELL	AT COST	11,672	19,720
83569C102 SONOVA HOLDIN-UNSPON	AT COST	4,739	9,524
780259107 ROYAL DUTCH SHELL PL	AT COST	7,743	9,584
631512209 NASPERS LTD-N SHS SP	AT COST	3,461	3,595
961214BK8 WESTPAC BANKING CORP	AT COST	37,452	35,122
151020AQ7 CELGENE CORP
34528QEC4 FORD CREDIT FLOORPLA
49326EEF6 KEYCORP	AT COST	15,486	15,119
035242AJ5 ANHEUSER-BUSCH INBEV
260543CC5 DOW CHEMICAL CO/THE
191216AV2 COCA-COLA CO/THE 3.3	AT COST	51,989	51,356
693475105 PNC FINANCIAL SERVIC	AT COST	20,836	31,536
20030N101 COMCAST CORP CLASS A
517834107 LAS VEGAS SANDS CORP	AT COST	29,699	29,169
98978V103 ZOETIS INC	AT COST	9,143	20,557
21036P108 CONSTELLATION BRANDS	AT COST	25,231	38,347
596278101 MIDDLEBY CORP	AT COST	25,280	26,770
54338V101 LONZA GROUP AG ADR	AT COST	10,940	13,822
771195104 ROCHE HOLDINGS LTD -	AT COST	21,104	28,796
803054204 SAP AG - ADR	AT COST	15,570	23,456
05946K101 BANCO BILBAO VIZCAYA	AT COST	18,104	12,667
237545108 DASSAULT SYSTEMES S.	AT COST	3,369	9,775
009126202 AIR LIQUIDE ADR	AT COST	4,725	6,423
056752108 BAIDU COM INC	AT COST	17,050	10,379
87184P109 SYSMEX CORP-UNSPON A	AT COST	2,873	7,622
22822V101 CROWN CASTLE INTL CO
46625H365 JP MORGAN ALERIAN ML
09260C703 BLACKROCK GL L/S CRE	AT COST	136,991	133,573
9128284A5 US TREASURY NOTE
36212VVM8 GNMA POOL 545220 8.0	AT COST	637	692
91324P102 UNITEDHEALTH GROUP I	AT COST	9,743	39,118
867224107 SUNCOR ENERGY INC NE	AT COST	34,374	39,633
G29183103 EATON CORP PLC	AT COST	17,130	27,689
235851102 DANAHER CORP	AT COST	11,344	33,941
278865100 ECOLAB INC	AT COST	11,220	18,814
831865209 SMITH A O CORP CL B
11135F101 BROADCOM INC	AT COST	54,086	60,735
016255101 ALIGN TECHNOLOGY INC	AT COST	4,064	11,760
90384S303 ULTA SALON COSMETICS	AT COST	28,846	28,825
92826C839 VISA INC-CLASS A SHR	AT COST	16,238	49,883
358029106 FRESENIUS MEDICAL CA
45662N103 INFINEON TECHNOLOGIE	AT COST	21,507	18,694
45104G104 ICICI BANK LTD. - AD	AT COST	6,309	10,036
465562106 ITAU UNIBANCO BANCO	AT COST	9,675	7,048
015393101 ALFA LAVAL AB-UNSPON	AT COST	5,795	7,076
466140100 JGC CORP-UNSPONSORED
001317205 AIA GROUP LTD - SP A	AT COST	8,633	19,304
398438408 GRIFOLS SA-ADR	AT COST	4,588	5,250
608190104 MOHAWK INDS INC COM	AT COST	40,117	30,645
675232102 OCEANEERING INTL INC
36381Y108 MONDRIAN INTERNATION	AT COST	235,573	154,329
31298WMD4 FHLMC POOL C59356 6.
097023AZ8 BOEING CO 4.875% 2/1	AT COST	56,227	50,467
12572QAG0 CME GROUP INC	AT COST	51,114	52,368
20030NBA8 COMCAST CORP 5.150%
00206RDD1 AT&T INC
06051GFX2 BANK OF AMERICA CORP	AT COST	39,420	42,467
87612EAZ9 TARGET CORP 2.900% 1	AT COST	45,782	46,225
31409WW80 FNMA POOL 880971 5.5	AT COST	534	541
50540RAM4 LAB CORP OF AMER HLD
307305102 FANUC LTD ADR	AT COST	5,852	6,869
88031M109 TENARIS S.A. - ADR
40052P107 GRUPO FIN BANORTE-SP
670108109 NOVOZYMES A/S UNSPON	AT COST	5,754	4,669
61022V107 MONOTARO CO LTD-UNSP
217204106 COPART INC COM	AT COST	13,665	59,766
302130109 EXPEDITORS INTL WASH	AT COST	14,409	25,333
681919106 OMNICOM GROUP
912828K74 US TREASURY NOTE	AT COST	43,883	45,999
857477AG8 STATE STREET CORP 4.	AT COST	37,339	36,126
824348AU0 SHERWIN-WILLIAMS CO	AT COST	11,785	12,162
532457108 ELI LILLY & CO COM	AT COST	17,667	26,280
46625H100 JPMORGAN CHASE & CO	AT COST	30,100	54,726
848574109 SPIRIT AEROSYTSEMS H	AT COST	10,764	19,326
892356106 TRACTOR SUPPLY CO CO	AT COST	25,758	31,202
09857L108 BOOKING HOLDINGS INC	AT COST	26,407	39,252
G1151C101 ACCENTURE PLC	AT COST	11,261	25,583
G0177J108 ALLERGAN PLC
78409V104 S&P GLOBAL INC	AT COST	9,467	25,723
G50871105 JAZZ PHARMACEUTICALS	AT COST	22,430	23,706
651587107 NEWMARKET CORP	AT COST	30,197	34,463
67103H107 O'REILLY AUTOMOTIVE	AT COST	25,940	57,784
GTY995004 GAI AGILITY INCOME F
902641646 E-TRACS ALERIAN MLP
31407PPQ5 FNMA POOL 836631 5.0	AT COST	290	300
40428HPR7 HSBC USA INC	AT COST	49,518	50,067
3137EADB2 FED HOME LN MTG CORP	AT COST	34,402	35,539
637432MQ5 NATIONAL RURAL UTIL	AT COST	30,264	30,633
912828VB3 US TREASURY NOTE 1.6
17275R102 CISCO SYSTEMS INC	AT COST	14,910	40,022
594918104 MICROSOFT CORP	AT COST	60,464	219,667
907818108 UNION PACIFIC CORP	AT COST	15,790	41,305
03076C106 AMERIPRISE FINL INC
015351109 ALEXION PHARMACEUTIC	AT COST	43,273	28,403
90385D107 ULTIMATE SOFTWARE GR
73278L105 POOL CORPORATION	AT COST	23,871	32,272
697435105 PALO ALTO NETWORKS I	AT COST	20,567	25,479
92927K102 WABCO HOLDINGS INC
693390841 PIMCO HIGH YIELD FD-	AT COST	430,888	445,305
003021714 ABERDEEN EMERG MARKE
683974604 OPPENHEIMER DEVELOPI
9128283Z1 US TREASURY NOTE	AT COST	24,948	26,502
31386SVN4 FNMA POOL 572221 6.0	AT COST	455	515
02319V103 AMBEV SA-SPN ADR	AT COST	10,689	10,450
570535104 MARKEL HOLDINGS	AT COST	36,840	69,732
806407102 SCHEIN HENRY INC
115236101 BROWN & BROWN INC	AT COST	27,832	61,086
G0450A105 ARCH CAPITAL GROUP L	AT COST	53,101	93,238
530307305 LIBERTY BROADBAND CO	AT COST	46,381	73,583
M22465104 CHECK POINT SOFTWARE	AT COST	15,381	19,272
35952Q106 FUCHS PETROLUB SE-PR	AT COST	6,124	4,878
501173207 KUBOTA LIMITED - ADR	AT COST	8,636	8,691
948596101 WEIBO CORP-SPON ADR
23304Y100 DBS GROUP HOLDINGS L	AT COST	11,051	16,591
12637N204 CSL LTE-SPONSORED AD
40415F101 HDFC BANK LTD. - ADR	AT COST	5,365	6,960
072743305 BAYERISCHE MOTOREN
872540109 TJX COS INC NEW	AT COST	7,306	17,725
G0750C108 AXALTA COATING SYSTE	AT COST	46,271	51,285
G5480U120 LIBERTY GLOBAL PLC-S
252131107 DEXCOM INC	AT COST	24,172	26,117
34964C106 FORTUNE BRANDS HOME	AT COST	16,836	21,880
20605P101 CONCHO RESOURCES INC	AT COST	18,863	10,185
912828U57 US TREASURY NOTE	AT COST	104,053	107,313
912828QN3 U S TREASURY NT 3.12
026874CU9 AMERICAN INTL GROUP	AT COST	21,687	21,374
30219GAF5 EXPRESS SCRIPTS HOLD	AT COST	26,560	25,931
912828WE6 US TREASURY NOTE 2.7	AT COST	49,946	52,336
126650100 CVS/CAREMARK CORPORA	AT COST	24,626	30,904
25243Q205 DIAGEO PLC - ADR	AT COST	41,227	53,471
9128286B1 US TREASURY NOTE	AT COST	115,462	124,466
891160509 TORONTO DOMINION BK	AT COST	35,210	36,413
G5960L103 MEDTRONIC PLC	AT COST	24,909	26,069
16941M109 DPS CHINA MOBILE LIM	AT COST	11,827	9,274
N97284108 YANDEX NV-A	AT COST	5,872	7,282
3131WWDB7 FHLMC POOL #ZJ5498	AT COST	410	460
3131WWAP9 FHLMC POOL #ZJ5414	AT COST	1,177	1,311
171269103 CHUGAI PHARMACEUTIC-	AT COST	8,697	10,688
89609H704 TRIBUTARY SMALL CO-I	AT COST	48,000	51,688
755111507 RAYTHEON CO	AT COST	12,543	12,752
606822BA1 MITSUBISHI UFJ FIN	AT COST	45,968	47,307
G5494J103 LINDE PLC	AT COST	9,695	12,011
249034109 DENTSU INC-UNSPON AD	AT COST	7,486	6,443
3131X7T65 FHLMC POOL #ZK4173	AT COST	7,621	7,540
94973VBJ5 WELLPOINT INC 3.500%	AT COST	21,052	20,961
550021109 LULULEMON ATHLETICA	AT COST	20,789	22,141
339750101 FLOOR & DECOR HOLDIN	AT COST	23,569	43,682
92343VDY7 VERIZON COMMUNICATIO	AT COST	22,082	22,083
767204100 RIO TINTO PLC - ADR	AT COST	6,902	5,782
29429L105 EPIROC AB-UNSP ADR	AT COST	6,149	7,104
88032Q109 TENCENT HOLDINGS LTD	AT COST	6,666	6,411
949917744 WF ADV ULTR SHORT-TR	AT COST	437,000	439,056
040413106 ARISTA NETWORKS INC	AT COST	21,604	23,892
31326SAL4 FHLMC POOL #ZK0000	AT COST	1,024	1,040
14149YBF4 CARDINAL HEALTH INC	AT COST	25,052	25,148
28414H103 ELANCO ANIMAL HEALTH	AT COST	18,761	17,230
00143W859 INV OPP DEVELOP MRKT	AT COST	715,048	825,317
581557BE4 MCKESSON CORP 3.796%	AT COST	26,343	26,132
68389XAU9 ORACLE CORP 3.400% 7	AT COST	31,509	31,634
00687A107 ADIDAS-AG ADR	AT COST	9,018	11,989
818800104 SGS SA ADR	AT COST	6,346	6,271
366651107 GARTNER INC	AT COST	21,297	23,021
488401100 KEMPER CORP	AT COST	34,039	32,271
40416M105 HD SUPPLY HOLDINGS I	AT COST	38,681	38,705
67066G104 NVIDIA CORP	AT COST	25,467	29,592
GTC996442 CORBIN MULTI STRATEG	AT COST	450,000	462,549
14040HBF1 CAPITAL ONE FINANCIA	AT COST	26,008	26,269
126650CV0 CVS HEALTH CORP	AT COST	30,270	31,228
500458401 KOMATSU LIMITED - AD	AT COST	4,790	4,632
02263T104 AMADEUS IT HOLDING-U	AT COST	9,952	8,751
90460M204 UNI CHARM CORPORATIO	AT COST	6,041	6,045
3132A9D79 FHLMC POOL #ZS8226	AT COST	435	442
GTY995331 AGILITY MULTI-ASSET	AT COST	300,000	295,217
285512109 ELECTRONIC ARTS INC	AT COST	21,955	23,477
743315103 PROGRESSIVE CORP OHI	AT COST	39,780	38,471
464288489 ISHARES FTSE EPRA/NA	AT COST	147,196	156,984
06406RAF4 BANK OF NY MELLON CO	AT COST	30,596	32,042
31620M106 FIDELITY NATL INFORM	AT COST	34,815	55,759
00507V109 ACTIVISION BLIZZARD	AT COST	21,757	23,549
344419106 FOMENTO ECONOMICO ME	AT COST	9,673	9,982
72341E304 PING AN INSURANCE-AD	AT COST	10,559	11,687
74365P108 PROSUS NV -SPON ADR	AT COST	1,918	1,748
69343P105 LUKOIL PJSC-SPON ADR	AT COST	10,220	10,010

Description	Amount
PY RETURN OF CAPITAL ADJUSTMENT	6,597
GAIN/LOSS ON CY SALES NOT SETTLED AT YEA	1,248

Description	Revenue and Expenses per Books	Net Investment Income	Disbursements for Charitable Purposes
OTHER EXPENSE (NON-DEDUCTIBLE	19	0	19
OTHER ALLOCABLE EXPENSE-INCOME	1,652	0	1,652
INVESTMENT EXPENSES-DIVIDEND I	590	590	0

Category	Amount	Net Investment Income
FOREIGN TAXES	6,941	6,941
FEDERAL TAX PAYMENT - PRIOR YE	15,000	0
FOREIGN TAXES ON NONQUALIFIED	985	985

Description	Amount
MUTUAL FUND TIMING DIFFERENCE	372
COST BASIS ADJUSTMENT	848