| Description of Property | Date Acquired | Cost or Other Basis | Prior Years' Depreciation | Computation Method | Rate / Life (# of years) |
Current Year's Depreciation Expense | Net Investment Income | Adjusted Net Income | Cost of Goods Sold Not Included |
|---|
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| BANK AMER CORP - 4.125% - 01/2 | 10,677 | 10,751 |
| CITIGROUP INC NOTE - 3.668% - | 8,131 | 8,465 |
| COMCAST CORP NOTE - 4.150% - 1 | 7,439 | 7,907 |
| ENTERPRISE PRODUCTS OPERTATING | 4,805 | 5,773 |
| ESCROW GENL MOTORS CORP - 0.00 | ||
| GE CAP CORP NTS - 5.875% - 01/ | 4,722 | 4,787 |
| GOLDMAN SACHS GROUP INC - 4.00 | 7,406 | 7,485 |
| JP MORGAN CHASE BANK - 4.203% | 10,102 | 11,140 |
| MICROSOFT CORP - 4.250% - 02/0 | 10,056 | 11,073 |
| SHELL INT'L FINANCE - 2.875% - | 8,947 | 9,405 |
| VERIZON COMMUNICATIONS INC - 5 | 10,337 | 10,043 |
| WELLS FARGO &CO MTN - 3.584% - | 7,087 | 7,420 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ACCENTURE PLC | 10,951 | 17,800 |
| ACCOR SA | 2,017 | 2,047 |
| ACS ACTIVIDADES CO UNSP ADR | 1,350 | 2,023 |
| ACUSHNET HOLDINGS CORP | 4,445 | 6,401 |
| AERCAP HOLDING N.V | 1,730 | 2,431 |
| AGREE REALTY CORP | 1,536 | 3,308 |
| AIA GROUP LTD ADR | 1,399 | 2,152 |
| AIRBUS GROUP | 947 | 2,369 |
| ALASKA AIR GROUP INC | 6,663 | 7,012 |
| ALBANY INTERNATIONAL CORP | 1,838 | 2,855 |
| ALLETE INC | 3,453 | 5,078 |
| ALLIANT CORP | 4,297 | 6,561 |
| ALPHABET INC CL A | 10,452 | 16,364 |
| AMAZON COM | 12,905 | 12,437 |
| AMDOCS LIMITED | 3,284 | 3,521 |
| AMERICAN ELECTRIC POWER INC | 7,288 | 7,551 |
| ANGLO AM PLC ADR | 2,120 | 2,440 |
| APPLE INC | 7,422 | 17,911 |
| ASML HOLDING NV NY REG SHS | 1,830 | 2,620 |
| ASSURED GUARANTY LTD | 5,937 | 7,883 |
| AT&T, INC | 15,931 | 16,589 |
| AUTOLIV INC | 10,026 | 8,952 |
| AVERY DENNISON CORP | 3,673 | 5,370 |
| AXA ADS | 1,889 | 2,190 |
| BAE SYSTEMS PLC | 2,308 | 2,064 |
| BANCO LATINOAMERICANO DE COMER | 5,223 | 3,817 |
| BANK OZK | 10,472 | 8,334 |
| BASF AG SPONS ADR | 2,702 | 2,375 |
| BGC PARTNERS INC | 8,893 | 7,285 |
| BLACKROCK HIGH YIELD BOND PORT | 77,113 | 73,839 |
| BLACKROCK INC | 8,955 | 9,696 |
| BOK FINANCIAL CORP | 2,320 | 3,240 |
| BROADRIDGE FINANCIAL | 697 | 1,252 |
| CALRSBERG AS SP ADR REP B | 1,463 | 2,365 |
| CANTEL MEDICAL CORPORATION | 1,278 | 1,312 |
| CAP GEMINI SA UNSP/ADR | 2,110 | 2,029 |
| CATHAY GENERAL BANCORP | 4,295 | 4,268 |
| CHEVRON CORP | 10,139 | 9,872 |
| CHUBB LIMITED | 9,375 | 12,041 |
| CISCO SYSTEMS INC | 13,138 | 11,735 |
| COMCAST CORP | 32,465 | 37,470 |
| CONMED CORPORATION | 2,459 | 3,521 |
| CRANE CO | 11,884 | 12,702 |
| CULLEN FROST BANKERS INC | 3,789 | 5,315 |
| DBS GROUP HLDGS SPON ADR | 1,290 | 2,126 |
| DELEK US HLDGS INC | 6,291 | 6,831 |
| DEUTSCHE BOERSE ADR | 1,548 | 2,245 |
| DEUTSCHE GLOBAL INFRASTRUCTURE | 50,000 | 52,621 |
| DEUTSCHE POST AG | 2,931 | 2,552 |
| DIAGEO PLC ADS | 12,383 | 15,732 |
| DNB NOR ASA SPONSOR ADR | 1,628 | 2,087 |
| DONALDSON CO. INC | 1,510 | 2,215 |
| DRIEHAUS EMERGING MARKETS GROW | 64,999 | 79,021 |
| DUKE ENERGY CO | 14,384 | 15,176 |
| E.ON AG SPON ADR REP 1/3 ORD N | 1,691 | 1,968 |
| EAST WEST BANCORP, INC | 7,796 | 7,726 |
| EASTGROUP PROPERTIES INC | 1,148 | 2,679 |
| ENERGIZER HOLDINGS INC | 4,174 | 3,867 |
| ENGIE | 2,429 | 2,634 |
| ENLINK MIDSTREAM LLC | 7,506 | 3,725 |
| ENPRO INDUSTRIES INC | 836 | 904 |
| EPR PROPERTIES | 5,921 | 7,935 |
| ESSILOR INTL ADR | 2,066 | 2,679 |
| FANUC LIMITED UNSPONSORED | 2,324 | 2,298 |
| FEDERAL AGRICULTURAL MORTGAGE | 1,081 | 1,101 |
| FIDELITY NATIONAL FINANCIAL IN | 5,507 | 8,618 |
| FOUR CORNERS PROPERTY TRUST IN | 2,440 | 2,693 |
| FULLER H B CO | 3,967 | 3,709 |
| GARMIN LTD | 1,830 | 3,469 |
| GILEAD SCIENCES INC | 16,367 | 13,507 |
| GROUPE DANONE ADS | 3,018 | 3,152 |
| HASBRO INC | 6,614 | 6,909 |
| HAWAIIAN HOLDINGS INC | 4,493 | 3,576 |
| HITACHI LTD | 2,036 | 2,311 |
| HOME DEPOT INC | 14,477 | 24,396 |
| HOPE BANCORP INC | 4,587 | 3,839 |
| HSBC HOLDINGS PLC | 2,096 | 1,852 |
| HUBBELL INCORPORATED | 2,467 | 3,259 |
| HUNTSMAN CORP | 4,985 | 6,927 |
| IDACORP INC HLDG CO | 902 | 861 |
| INDUSTRIA DE DISENO | 2,300 | 2,157 |
| INGREDION INC | 6,861 | 5,609 |
| INTEL CORP | 17,631 | 26,569 |
| INTER PARFUMS INC | 906 | 1,007 |
| INVESCO OPPENHEIMER SENIOR FLO | 100,402 | 88,940 |
| ISHARE SP SMALL CAP 600 INDEX | 13,830 | 19,061 |
| ISHARES CORE MSCI EAFE ETF | 33,257 | 36,231 |
| ISHARES CORE MSCI EMERGING MAR | 20,832 | 20,826 |
| ISHARES MSCI BRAZIL FREE INDEX | 6,388 | 6,155 |
| ISHARES MSCI CHINA INDEX FUND | 4,886 | 6,315 |
| ISHARES MSCI-JAPAN | 9,586 | 10,152 |
| ISHARES TRUST MSCI EAFE INDEX | 44,388 | 51,711 |
| JAMES RIVER GROUP HOLDINGS LTD | 6,276 | 5,837 |
| JOHNSON & JOHNSON | 34,458 | 33,670 |
| JP MORGAN CHASE | 16,801 | 18,738 |
| JULIUS BAER GROUP LTD | 2,236 | 2,073 |
| KAR AUCTION SERVICES INC | 1,715 | 2,461 |
| KONINKLIJKE DSM NV ADR | 2,107 | 3,202 |
| KULICKE AND SOFFA INDUSTRIES, | 6,660 | 6,601 |
| LCI INDUSTRIES | 5,372 | 6,216 |
| LEIDOS HOLDINGS INC | 3,450 | 6,209 |
| LINCOLN ELECTRIC HOLDING INC | 4,289 | 5,016 |
| LINDE PLC COM | 12,788 | 14,876 |
| LITTELFUSE, INC | 6,362 | 7,550 |
| LLOYDS BANKING GROUP PLC | 2,385 | 2,187 |
| LOCKHEED MARTIN CORP | 16,325 | 22,977 |
| MARSH AND MCLENNAN COMPANIES I | 8,783 | 16,165 |
| MASTERCARD INC | 5,415 | 14,394 |
| MCDONALD'S CORP | 12,233 | 17,703 |
| MEDICAL PROPERTIES TRUST, INC | 4,196 | 7,069 |
| MEDTRONIC PLC | 26,184 | 33,759 |
| MICROSOFT CORP | 23,026 | 57,347 |
| MKS INSTRUMENTS, INC | 8,869 | 10,281 |
| MONDELEZ INTERNATIONAL INC | 13,914 | 13,480 |
| MSA SAFETY INCORPORATED | 2,574 | 5,763 |
| MURATA MFG INC UNSP/ADR | 2,291 | 2,728 |
| NATIONAL RETAIL PROPERTIES INC | 2,998 | 4,006 |
| NATL HEALTH INVESTOR | 3,265 | 4,032 |
| NEWMARK GROUP INC | 5,733 | 6,680 |
| NEXTERA ENERGY, INC | 13,290 | 18,591 |
| NORDEA BANK ABP | 2,694 | 1,967 |
| NORDSON CP | 3,252 | 6,586 |
| NOVARTIS AG ADR | 13,166 | 16,176 |
| NUTRIEN LTD | 2,083 | 1,912 |
| NVENT ELECTRIC PLC | 3,402 | 3,851 |
| NXP SEMICONDUCTORS | 1,738 | 2,615 |
| ONE GAS INC | 960 | 928 |
| OTSUKA HOLDINGS CO | 1,477 | 1,957 |
| PACKAGING CORP AMER | 2,918 | 4,269 |
| PACWEST BANCORP | 10,515 | 9,321 |
| PAYPAL HOLDINGS, INC | 4,608 | 12,388 |
| PIMCO ENHANCED SHORT MATURITY | 7,724 | 7,735 |
| PNM RESOURCES INC | 976 | 1,773 |
| PORTLAND GEN ELEC | 1,708 | 1,934 |
| PROCTER GAMBLE CO | 28,098 | 37,602 |
| PROSUS NV ADR | 2,195 | 2,021 |
| REPSOL YPF S A ADR | 2,706 | 2,363 |
| REPUBLIC SVCS INC | 8,278 | 10,239 |
| ROCHE HOLDING LTD ADR | 2,151 | 2,521 |
| ROCKWELL AUTOMATION INC | 5,430 | 8,943 |
| ROLLS ROYCE GRP PLC S/ADR | 2,092 | 1,609 |
| ROYAL DUTCH SHELL CL A | 2,652 | 2,841 |
| RPM INTERNATIONAL INC | 2,929 | 4,129 |
| RWE AKTIENGESELLSCHAF | 2,068 | 2,382 |
| SANDS CHINA LTD UNSP ADR | 2,096 | 2,174 |
| SAP AKTIENGESELL ADS | 2,765 | 3,315 |
| SECOM CO LTD ADR OTC | 1,577 | 2,463 |
| SIEMENS HEALTHINEERS AG | 2,100 | 2,102 |
| SMITH & NEPHEW PLC ADR | 1,686 | 2,118 |
| SNAP ON INC | 5,115 | 5,531 |
| SPIRE INC | 957 | 925 |
| STARBUCKS CORP COM | 4,812 | 7,188 |
| STERIS PLC | 2,922 | 6,088 |
| STORE CAPITAL CORPORATION | 4,315 | 4,982 |
| SUNCOR ENERGY INC | 11,033 | 10,273 |
| SUNTRUST BKS INC | 11,512 | 12,575 |
| T. ROWE PRICE HEALTH SCIENCES | 59,999 | 58,117 |
| TARGA RESOURCES CORP | 4,492 | 5,638 |
| TELEFLEX INC | 2,200 | 4,864 |
| TEMPLETON GLOBAL BD | 78,999 | 65,245 |
| TEXAS INSTRUMENTS INC | 8,512 | 11,209 |
| THE COCA-COLA CO | 30,970 | 35,924 |
| TJX COMPANIES INC | 4,892 | 7,725 |
| TORAY INDUSTRIES INC | 2,600 | 1,909 |
| UNION PACIFIC | 4,513 | 7,611 |
| UNITED TECHNOLOGIES CORP | 9,937 | 13,640 |
| UNITEDHEALTH GROUP INC | 8,712 | 14,151 |
| USD CYRUSONE INC | 9,233 | 11,334 |
| V F CORP | 8,386 | 11,109 |
| VANGUARD GROWTH ETF | 14,539 | 22,347 |
| VANGUARD LG-CAP ETF | 55,313 | 72,430 |
| VANGUARD MID-CAP ETF | 23,018 | 32,536 |
| VANGUARD VALUE ETF | 16,381 | 22,521 |
| VERMILION ENERGY | 8,775 | 3,599 |
| WAL-MART STORES INC | 13,133 | 15,244 |
| WALT DISNEY HOLDINGS CO | 8,516 | 13,252 |
| WASHINGTON TRUST BANCORP INC | 3,050 | 3,883 |
| WESTERN ASSET SMASH SERIES C F | 38,191 | 39,311 |
| WESTERN ASSET SMASH SERIES EC | 98,918 | 105,468 |
| WESTERN ASSET SMASH SERIES M F | 113,421 | 117,443 |
| WILEY JOHN & SONS INC CL A | 3,445 | 3,640 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| ASPEN STILLWATER PROPERTIES, L | 885,974 | 885,974 | |
| MCGREW-MEYERS HOLDINGS, L.L.C. | 474,305 | 474,305 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Administrative Fees | 14,146 | 14,146 | ||
| Bank Charges | 155 | 155 | ||
| K-1 Exp MCGREW-MEYERS HOLDINGS | 359 | 359 | ||
| REGISTERED AGENT FEE | 199 | 199 | ||
| State or Local Filing Fees | 90 | 90 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| K-1 Inc/Loss ASPEN STILLWATER PROPERTIES, LLC | 1,336 | 1,336 | |
| K-1 Inc/Loss MCGREW-MEYERS HOLDINGS, L.L.C. | 194 | 194 | |
| Federal Tax Refund | 1,345 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Investment Management Services | 28,041 | 28,041 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| 990-PF Estimated Tax for 2019 | 1,900 | |||
| Foreign Tax Paid | 1,036 | 1,036 |