| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| TAX PREPARATION FEES | 6,825 | 0 | 6,825 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| INVUS ALTERNATIVE STRATEGY FUND, LTD - ELIGIBLE - SERIES 4 | 2,500,000 | 2,953,926 |
| E V ATLANTA CAP SMID CAP I (EISMX) | 532,492 | 567,072 |
| INVESCO DEVELOPING MKTS Y (ODVYX) | 116,994 | 141,027 |
| VAN ECK EMERGING MARKETS Y (EMRYX) | 117,082 | 136,903 |
| INVESCO RUSSELL 1000 R DYN ETF (OMFL) | 848,370 | 1,074,458 |
| ISHARES GOLD TRUST (IAU) | 1,102,347 | 1,047,461 |
| ISHARES SILVER SHARES (SLV) | 149,733 | 145,700 |
| SPROTT JR. GOLD MINERS ETF (SGDJ) | 195,969 | 201,867 |
| COMM SERV SELECT SECTOR SPDR | 160,962 | 183,681 |
| CONS DISCRET SEL SECT SPDR FD | 169,215 | 186,344 |
| ENERGY SEL SECT SPDR FD | 59,799 | 59,806 |
| HEALTH CARE SEL SECT SPDR FD | 173,977 | 186,949 |
| INDUSTRIAL SEL SEC SPDR FD | 165,806 | 195,961 |
| ISHARES EDGE MSCI MIN VOL USA | 870,089 | 929,277 |
| ISHARES MSCI ASIA EX-JAPAN ETF | 131,555 | 152,247 |
| ISHARES RUSSELL 2000 ETF | 87,102 | 111,166 |
| THE FINANCIAL SEL SECT SPDR FD | 167,688 | 203,618 |
| THE TECHNOLOGY SEL SEC SPDR FD | 211,078 | 240,927 |
| VANGUARD FTSE PACIFIC ETF | 85,749 | 103,228 |
| VANGUARD INTL EQUITY INDEX FD | 303,479 | 348,643 |
| 2U INC COM | 2,948 | 2,721 |
| A O SMITH CORP | 3,754 | 4,221 |
| ABB LTD | 3,356 | 3,635 |
| ABBOTT LABORATORIES | 32,794 | 43,687 |
| ACTIVISION BLIZZARD INC | 4,480 | 4,921 |
| AES CORP | 1,647 | 2,374 |
| AIA GROUP LTD SPON ADR | 5,391 | 7,222 |
| AIR PROD & CHEM INC | 36,993 | 40,163 |
| AIRBUS SE UNSPONSORED ADR | 3,220 | 4,344 |
| ALARM COM HLDGS INC COM | 5,263 | 9,104 |
| ALIGN TECHNOLOGY | 2,973 | 5,344 |
| ALPHABET INC CL A | 148,971 | 613,424 |
| ALPHABET INC CL C | 5,622 | 15,767 |
| AMAZON INC | 83,400 | 814,233 |
| AMEDISYS INC | 5,816 | 7,333 |
| AMERICA MOVIL SA DE CV ADR L | 1,337 | 1,541 |
| AMERICAN TOWER REIT COM | 3,556 | 3,142 |
| AMERICAN WATER WORKS CO | 32,894 | 37,447 |
| AMETEK INC NEW | 7,820 | 9,796 |
| AMN HEALTHCARE SVCS INC | 4,216 | 5,051 |
| ANHEUSER BUSCH INBEV SA SPON | 1,356 | 1,678 |
| ANSYS INC | 9,725 | 11,278 |
| AON PLC CL A | 2,161 | 2,324 |
| APPLE INC | 81,043 | 538,315 |
| ARAMARK HOLDINGS CORPORATION | 4,953 | 8,696 |
| ASAHI KAISEI CORP ADR | 2,646 | 3,301 |
| ASML HOLDING NV NY REG NEW | 5,494 | 7,316 |
| ASPEN TECHNOLOGY INC | 2,427 | 3,126 |
| ASTRAZENECA PLC ADR | 5,007 | 4,499 |
| AUTODESK INC DELAWARE | 4,325 | 5,496 |
| AVALARA INC | 3,745 | 4,947 |
| BALL CORPORATION | 4,545 | 5,684 |
| BERKSHIRE HATHAWAY CL-B | 29,818 | 37,795 |
| BERKSHIRE HATHAWAY INC CL B | 69,302 | 137,035 |
| BIO-TECHNE CORP | 6,054 | 7,304 |
| BLACKLINE INC | 5,498 | 8,003 |
| BRITISH AMER TOB SPON ADR | 2,170 | 2,437 |
| BROADCOM INC | 4,900 | 6,568 |
| BROWN FORMAN CORP CL B | 29,340 | 42,177 |
| CABOT OIL & GAS CORP A | 25,585 | 27,204 |
| CARLSBERG AS | 3,651 | 4,048 |
| CASEYS GEN STORES INC | 351 | 357 |
| CDW CORPORATION | 10,488 | 11,993 |
| CHARTER COMMUNICATIONS INC | 2,461 | 2,646 |
| CHEMED CORP | 98,230 | 373,094 |
| CHEMED CORPORATION | 1,714 | 7,457 |
| CHEVRON CORP | 3,964 | 3,800 |
| CHURCH & DWIGHT CO INC | 29,952 | 40,475 |
| CITIZENS FINANCIAL GROUP INC | 2,536 | 3,290 |
| CITRIX SYSTEMS INC | 30,062 | 27,061 |
| CLOROX CO | 29,341 | 34,528 |
| CME GROUP INC | 32,358 | 34,407 |
| COCA COLA CO | 30,038 | 36,359 |
| COGENT COMMUNICATIONS HOLDINGS INC | 51,316 | 73,475 |
| COGNEX CORP | 3,798 | 4,496 |
| COMCAST CORP (NEW) CLASS A | 3,231 | 3,982 |
| COMPAGNIE FIN RICHEMONTAG ADR | 2,093 | 3,016 |
| COOPER CO INC NEW | 9,704 | 11,626 |
| COPART INC | 29,865 | 54,081 |
| COSTAR GROUP INC | 7,471 | 8,319 |
| COSTCO WHOLESALE CORP NEW | 32,467 | 41,823 |
| CROWN CASTLE INTL CORP | 1,973 | 1,910 |
| CSX CORP | 2,386 | 2,995 |
| DANAHER CORP | 24,712 | 133,284 |
| DANAHER CORPORATION | 5,724 | 9,108 |
| DANONE SPONSORED ADR | 2,431 | 2,424 |
| DARDEN RESTAURANTS | 30,734 | 62,538 |
| DENTSPLY SIRONA INC | 6,275 | 7,645 |
| DIAGEO PLC SPON ADR NEW | 9,889 | 11,593 |
| DNB ASA SPONSORED ADR | 2,596 | 3,216 |
| DUKE REALTY CORP | 29,837 | 36,692 |
| ECOLAB INC | 29,632 | 40,676 |
| EDWARD LIFESCIENCES CORP | 35,840 | 42,422 |
| ENEL SOCIETA PER AZIONI ADR | 4,328 | 4,811 |
| EQUINIX INC | 33,753 | 37,137 |
| EQUITY RESIDENTIAL | 29,708 | 29,106 |
| ESSEX PROPERTY TRUST INC | 29,578 | 32,289 |
| ESSILORLUXOTTICA ADR | 2,974 | 3,577 |
| EXPONENT INC | 3,219 | 4,141 |
| FACEBOOK INC CL-A | 1,278 | 1,366 |
| FASTENAL CO | 8,391 | 8,643 |
| FEDL RLTY INVT TRUST S B I | 30,303 | 33,963 |
| FIDELITY NATL INFORMATION SE | 6,617 | 6,366 |
| FISERV INC COM | 14,427 | 16,282 |
| FIVE BELOW | 6,222 | 10,324 |
| GENMAB A S ADR | 2,973 | 3,334 |
| GENTEX CORP | 3,066 | 3,834 |
| GILEAD SCIENCE | 2,478 | 2,097 |
| GLOBAL PAYMENT INC | 14,542 | 17,880 |
| GLOBANT S.A | 8,807 | 10,445 |
| GODADDY INC. | 18,945 | 19,825 |
| GRAND CANYON ED INC COM | 6,817 | 6,238 |
| GUIDEWIRE SOFTWARE INC | 5,806 | 6,951 |
| HEDGEPREMIER/RIEF FUND LP | 100,000 | 99,978 |
| HEICO CORP NEW | 6,194 | 8,209 |
| HILTON WORLDWIDE HLDGS INC | 1,768 | 1,891 |
| HLTH CARE SVC GRP | 4,331 | 4,524 |
| HOME DEPOT INC | 39,816 | 107,374 |
| HONEYWELL INTERNATIONAL INC | 2,490 | 3,191 |
| IAC INTERACTIVECORP NEW | 3,831 | 5,491 |
| INDUSTRIA DE DISENO TEXTIL IND | 1,633 | 1,604 |
| INTEL CORP | 37,689 | 29,145 |
| INTERCONTINENTAL EXCHANGE INC | 3,083 | 3,689 |
| JACK HENRY & ASSOC INC | 4,907 | 4,374 |
| JOHNSON & JOHNSON | 29,744 | 35,253 |
| JOHNSON AND JOHNSON | 114,895 | 191,401 |
| JPMORGAN CHASE & CO | 77,755 | 196,323 |
| KERING S A ADR NEW | 2,192 | 2,174 |
| KEYENCE CORP | 3,257 | 4,494 |
| KLA CORPORATION | 2,216 | 2,848 |
| KONINKLIJKE PHIL EL SP ADR NEW | 3,437 | 3,575 |
| KORNIT DIGITAL LTD SHS | 4,518 | 7,130 |
| L OREAL CO ADR | 2,987 | 3,427 |
| L3HARRIS TECHNOLOGIES INC | 37,492 | 30,999 |
| LENNOX INTL INC | 2,999 | 3,014 |
| LONDON STK EXCHANGE GROUP ADR | 1,827 | 2,001 |
| LVMH MOET HENNESSY LOUIS VUITT | 2,495 | 3,492 |
| MARKEL CORP | 6,369 | 6,200 |
| MARSH & MCLENNAN COS INC | 1,887 | 1,872 |
| MARTIN MARIETTA MATERIALS | 4,998 | 6,531 |
| MERCK AND CO INC | 68,829 | 123,600 |
| MICROSOFT CORP | 134,564 | 787,406 |
| MIDDLEBY CORP DEL | 2,015 | 2,578 |
| MONDELEZ INTL INC COM | 29,823 | 34,322 |
| MOODYS CORP | 2,755 | 2,902 |
| MORNINGSTAR INC | 53,100 | 150,752 |
| NASDAQ INC COM | 29,808 | 40,486 |
| NATL INSTRUMS CP | 3,189 | 3,867 |
| NEOGEN CP | 4,851 | 4,837 |
| NESTLE SPON ADR REP REG SHR | 9,306 | 9,306 |
| NORTHROP GRUMMAN CP | 3,279 | 3,047 |
| NOVO NORDISK A/S ADR | 5,216 | 5,728 |
| OLLIES BARGAIN OUTLET HLDG INC | 5,806 | 4,579 |
| OMNICOM GROUP | 39,692 | 33,867 |
| O'REILLY AUTOMOTIVE INC NEW | 8,357 | 8,146 |
| ORTHOPEDIATRICS CORP | 2,836 | 2,393 |
| PAYCHEX INC | 30,104 | 44,447 |
| PAYCOM SOFTWARE INC | 5,871 | 9,045 |
| PAYLOCITY HOLDING CORPORATION | 2,922 | 4,530 |
| PEGASYSTEMS INC | 7,887 | 9,062 |
| PERNOD RICARD SA UNSPONS ADR | 2,300 | 2,569 |
| PFIZER INC | 28,152 | 33,497 |
| PHILIP MORRIS INTL INC | 2,400 | 2,484 |
| PLURALSIGHT INC COM CL A | 4,222 | 4,045 |
| PRA GROUP INC | 2,595 | 2,340 |
| PROGRESSIVE CORP OHIO | 33,297 | 39,354 |
| PROS HLDG INC | 2,976 | 4,265 |
| PROTO LABS | 5,815 | 6,750 |
| REALTY INCOME CORP | 29,848 | 35,748 |
| RECKITT BENCKISER PLC SPNS ADR | 4,571 | 4,077 |
| REPUBLIC SERVICES INC | 29,856 | 38,135 |
| RITCHIE BROTHERS AUCTIONEERS | 4,677 | 6,677 |
| ROLLINS INC | 6,114 | 6,681 |
| ROSS STORES INC | 8,729 | 12,158 |
| ROYAL BK CDA ARN NT LKD 21 | 177,000 | 180,540 |
| ROYAL CARIBBEAN CRUISES LTD | 1,419 | 2,091 |
| ROYAL KPN NV SPONS ADR | 1,517 | 1,783 |
| RYANAIR HLDGS PLC ADR | 1,780 | 2,530 |
| SAFRAN SA | 4,590 | 5,567 |
| SALESFORCE COM INC | 30,370 | 184,032 |
| SAP AG | 3,217 | 2,608 |
| SEAGEN INC | 4,176 | 4,554 |
| SHERWIN WILLIAMS COMPANY OHIO | 7,867 | 8,819 |
| SHIN ETSU CHEM CO LTD ADR | 2,996 | 4,398 |
| SMC CORP COMMON | 2,118 | 2,439 |
| STARBUCKS CORP | 42,455 | 161,957 |
| STERIS PLC | 6,651 | 9,287 |
| STERIS PLC REG SHS | 134,613 | 341,930 |
| SYSCO CORP | 30,019 | 47,675 |
| TAIWAN SMCNDCTR MFG CO LTD ADR | 6,921 | 9,377 |
| TAKE TWO INTERACTIVE SOFTWARE | 29,349 | 51,740 |
| TARGET CORPORATION | 36,473 | 55,430 |
| TELADOC HEALTH INC | 6,651 | 6,199 |
| TELEFLEX INC | 11,367 | 12,759 |
| TENCENT HLDGS LTD UNSPON ADR | 4,018 | 4,026 |
| TERUMO CORP ADR UNSPONS ADR | 710 | 761 |
| THERMO FISHER SCIENTIFIC | 11,110 | 12,576 |
| TJX COS INC NEW | 15,117 | 19,189 |
| TOTAL S A ADR | 1,813 | 1,928 |
| TRANSUNION | 6,910 | 7,342 |
| TYLER TECHNOLOGIES INC | 8,374 | 10,040 |
| U S BANCORP COM NEW | 9,343 | 11,834 |
| UBS GROUP AG SHS | 2,890 | 2,812 |
| UNITEDHEALTH GP INC | 33,534 | 46,290 |
| VERISK ANALYTICS INC COM | 14,032 | 15,569 |
| VERIZON COMMUNICATIONS | 29,760 | 32,136 |
| VISA INC CL A | 72,895 | 209,562 |
| VULCAN MATERIALS CO | 30,061 | 44,345 |
| WABTEC CORP | 1,389 | 1,610 |
| WATSCO INC | 3,278 | 3,172 |
| WEST PHARMACEUTICAL SVCS INC | 8,149 | 8,499 |
| WHITE MOUNTAIN GRP BERMUDA | 19,991 | 23,015 |
| WILLIS TOWERS WATSON PUB LTD | 30,209 | 37,080 |
| WORKIVA INC CLASS A | 4,151 | 6,688 |
| WW INTERNATIONAL INC | 60,980 | 122,000 |
| YUM BRANDS INC | 1,908 | 2,280 |
| Description | Amount |
|---|---|
| CHANGE IN VALUE OF INVESTMENTS | 763,169 |
| PRIOR PERIOD ADJUSTMENT | 35,500 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ADR BANK FEES | 8,274 | 8,274 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| CASH IN LIEU OF DIVIDENDS | 801 | 801 | 801 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| NY FILING FEE | 750 | 0 | 750 | |
| FEDERAL TAXES | 26,983 | 0 | 0 | |
| FOREIGN TAXES | 1,868 | 1,868 | 0 |