| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| Discover Bank New Castle 4.20 2023-08-08 | 75,526 | 81,999 |
| NTC Capital II 2027-04-15 | 87,750 | 94,945 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| Alphabet, Inc. | 62,937 | 182,196 |
| Amazon | 51,772 | 227,985 |
| American Tower Corp. | 197,091 | 273,392 |
| Ansys, Inc. | 31,206 | 264,846 |
| Bio-Techne Corp. | 110,983 | 309,929 |
| Black Knight, Inc. | 131,496 | 229,622 |
| Blackline, Inc. | 56,851 | 251,821 |
| Bristol Myers Suibb Co. | 52,480 | 93,045 |
| Carmax, Inc. | 156,804 | 230,860 |
| CBRE Group, Inc. | 95,613 | 211,931 |
| Cisco Systems, Inc. | 93,535 | 134,250 |
| CoStar Group | 7,499 | 137,718 |
| Danaher Corp. | 156,914 | 344,539 |
| Ecolab | 133,401 | 274,344 |
| Emerson Electric | 84,612 | 120,555 |
| Envestnet | 35,322 | 90,519 |
| Fastenal Co. | 75,426 | 175,202 |
| Illumina | 153,628 | 307,470 |
| Intuitieve Surgical | 191,568 | 535,856 |
| Johnson Johnson | 75,219 | 173,118 |
| Lilly Eli Co. | 52,668 | 202,608 |
| Markel Corp. | 169,025 | 253,159 |
| Mastercard | 210,717 | 514,707 |
| Merck | 74,197 | 139,060 |
| Moodys | 38,657 | 158,181 |
| Okta | 23,357 | 107,552 |
| Pfizer | 67,791 | 110,430 |
| Procter Gamble | 51,480 | 111,312 |
| Qualys | 52,826 | 90,306 |
| Roper Technologies | 66,198 | 177,178 |
| S P Global | 90,805 | 291,255 |
| SBA Communications | 88,747 | 159,403 |
| Teleflex | 155,747 | 260,112 |
| Thermo Fisher Scientific | 185,864 | 368,898 |
| Twillio | 19,567 | 71,424 |
| Veeva Systems | 28,820 | 51,455 |
| Verisk Analytics | 56,000 | 191,813 |
| Visa, Inc. | 182,601 | 536,982 |
| Vulcan Materials Co. | 240,677 | 300,624 |
| Waste Connections | 104,596 | 205,755 |
| Analog Devices | 99,944 | 118,184 |
| Atlassian Corp. | 32,342 | 52,855 |
| Cable One, inc. | 178,998 | 280,693 |
| Crowdstrike Holdings | 40,719 | 62,699 |
| Dollar General | 79,753 | 101,575 |
| Guidewire Software | 83,377 | 101,697 |
| Heico Corporation | 154,302 | 241,027 |
| Idexx Labs, Inc. | 78,541 | 166,957 |
| Qualcomm | 202,150 | 204,288 |
| Starbucks | 100,117 | 120,887 |
| Viatris | 3,733 | 6,971 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| Interest Receivable | 7,805 | 1,313 | 1,313 |
| rounding | -1 | 2 | 2 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Management Fees | 51,000 | 51,000 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| Lawsuit settlement | 1,678 | 1,678 |
| Description | Amount |
|---|---|
| Increase In Grants Payable | 27,500 |
| rounding | 1 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Dent Fees | 72,106 | 72,106 | ||
| U.S. Trust Fees | 3,256 | 3,256 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Federal Excise Tax | 22,714 | |||
| Foreign Taxes | 549 | 549 |