| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 122897.84 SHS/UNITS BBH INCOME FUND-I | 1,250,000 | 1,305,175 |
| 2235 SHS/UNITS AO SMITH CORP COM STK | 39,040 | 48,242 |
| 5102 SHS/UNITS ALCON INC COM STK | 75,426 | 94,944 |
| 96 SHS/UNITS ALPHABET INC CAP STK CL C | 51,817 | 168,180 |
| 31 SHS/UNITS AMAZON.COM INC | 97,993 | 100,964 |
| 877 SHS/UNITS ARTHUR J GALLAGHER & CO | 79,630 | 108,494 |
| 22 SHS/UNITS BOOKING HOLDINGS INC COM STK | 39,674 | 49,000 |
| 963 SHS/UNITS BROWN-FORMAN CORP CLASS B COMMON STOCK | 44,097 | 76,491 |
| 769 SHS/UNITS COLGATE PALMOLIVE CO | 48,300 | 65,757 |
| 123 SHS/UNITS COSTCO WHOLESALE CORP | 25,110 | 46,344 |
| 259 SHS/UNITS DOLLAR GENERAL CORP COM STK | 27,098 | 54,468 |
| 2216 SHS/UNITS COPART INC CO STK | 44,394 | 113,889 |
| 546 SHS/UNITS ALLEGION PLC-COM STK | 44,614 | 63,543 |
| 233 SHS/UNITS KLA-TENCOR CORP | 22,940 | 60,326 |
| 470 SHS/UNITS LINDE PLC COM STK | 76,513 | 123,850 |
| 57250.40 SHS/UNITS ALPS SERIES TRUST CLARKSTON PTRS FUND FOUNDERS | 625,060 | 855,894 |
| 163151.51 SHS/UNITS BBH LIMITED DURATION FUND CLASS I | 1,662,984 | 1,683,724 |
| 113832.29 SHS/UNITS BBH PARTNER FUND INTL EQUITY CL I | 1,670,962 | 2,297,136 |
| 622 SHS/UNITS BERKSHIRE HATHAWAY INC DEL CL B | 87,683 | 144,223 |
| 527 SHS/UNITS CELANESE CORP DEL COM SER A | 36,387 | 68,478 |
| 1246 SHS/UNITS COMCAST CORP NEW CL A | 39,846 | 65,290 |
| 458 SHS/UNITS DIAGEO PLC-SPONSORED ADR | 54,124 | 72,735 |
| 267099.01 SHS/UNITS BBH US GOVERNMENT MONEY MARKET | 270,090 | 270,090 |
| 1053 SHS/UNITS HENRY SCHEIN INC | 64,936 | 70,404 |
| 323 SHS/UNITS MASTERCARD INCORPORATED | 81,759 | 115,292 |
| 1442 SHS/UNITS NESTLE S A SPONSORED ADR | 128,235 | 169,868 |
| 544 SHS/UNITS NIKE INC CL B | 42,406 | 76,960 |
| 1344 SHS/UNITS ORACLE CORP COM | 54,593 | 86,943 |
| 880 SHS/UNITS PERRIGO CO PLC SHS | 72,496 | 39,354 |
| 135000 SHS/UNITS VALLEY FORGE LARGE CAP EQUITY | 135,000 | 135,000 |
| 933 SHS/UNITS WASTE MANAGEMENT INC | 18,087 | 44,460 |
| 695 SHS/UNITS ZOETIS INC COM STK | 63,951 | 115,023 |
| 498 SHS/UNITS STARBUCKS CORP | 45,405 | 53,276 |
| 792 SHS/UNITS PROGRESSIVE CORP OHIO | 58,178 | 78,313 |
| 837 SHS/UNITS BAXTER INTL INC | 62,978 | 67,161 |
| 105 SHS/UNITS THERMO FISHER SCIENTIFIC INC | 45,746 | 48,907 |
| 683 SHS/UNITS GRACO INC COMMON STOCK | 18,393 | 19,390 |
| 227 SHS/UNITS VISA INC CL A | 44,388 | 49,652 |
| 41305.86 SHS/UNITS GQG EMERG MKTS EQ-INST | 450,000 | 741,440 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| 684489.03 SHS/UNITS ALTAROCK PARTNERS SERIES | AT COST | 606,529 | 684,489 |
| 1120954.48 SHS/UNITS BARES MID/LARGE CAP SERIES | AT COST | 906,231 | 1,120,953 |
| 617570.24 SHS/UNITS CEDAR ROCK PARTNERS SERIES | AT COST | 600,830 | 617,570 |
| 204734.52 SHS/UNITS PORT CAPITAL SMALL CAP SERIES | AT COST | 170,410 | 204,735 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| SECRETARY OF STATE | 144 | 144 | 0 | |
| LEGAL FEES | 1,055 | 1,055 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| BBH INVESTMENTS FEES | 37,991 | 37,991 | 0 | |
| BBH WEALTH STRATEGIES LLC - ALTAROCK PARTNERS SERIES K-1 | 2,509 | 2,509 | 0 | |
| BBH WEALTH STRATEGIES LLC - BARES MID-LARGE CAP SERIES K-1 | 2,243 | 2,243 | 0 | |
| BBH WEALTH STRATEGIES LLC - CEDAR ROCK CAPITAL PARTNERS SERIES K-1 | 497 | 497 | 0 | |
| BBH WEALTH STRATEGIES LLC - PORT CAPITAL SMALL CAP SERIES K-1 | 677 | 677 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| BBH INVESTMENTS FOREIGN TAX | 7,348 | 7,348 | 0 | |
| BBH WEALTH STRATEGIES LLC - ALTAROCK PARTNERS SERIES K-1 | 78 | 78 | 0 | |
| BBH WEALTH STRATEGIES LLC - CEDAR ROCK CAPITAL PARTNERS SERIES K-1 | 32 | 32 | 0 |