| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| SMITH, DUKES & BUCKALEW - TAX RETURN PREPARATION | 6,275 | 0 | 6,275 | |
| REGIONS BANK - TAX RUN PROCESSING | 200 | 0 | 200 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AIR LEASE CORP 3.75% 01 JUN 2026 - 75000 SHS | 73,069 | 82,498 |
| AMERICAN HONDA FINANCE CORP 2.65% 12 FEB 2021 - 100000 SHS | 99,917 | 100,245 |
| AMGEN INC 2.25% 19 AUG 2023 - 70000 SHS | 69,748 | 73,528 |
| APPLE INC 1.25% 20 AUG 2030 - 70000 SHS | 69,851 | 70,015 |
| APPLE INC 2.1% 12 SEP 2022 - 70000 SHS | 69,690 | 72,165 |
| BANK OF AMERICA CORP VARIABLE 3.559% 23 APR 2027 - 70000 SHS | 71,055 | 79,038 |
| BP CAPITAL MARKETS AMERICA INC 3.796% 21 SEP 2025 - 65000 SHS | 66,093 | 73,707 |
| CAPITAL ONE FINANCIAL CORP 3.65% 11 MAY 2027 - 71000 SHS | 70,950 | 81,399 |
| CHARLES SCHWAB CORP/THE .9% 11 MAR 2026 - 71000 SHS | 70,951 | 71,909 |
| CITIGROUP INC VARIABLE .776% 30 OCT 2024 - 70000 SHS | 70,010 | 70,454 |
| DUKE ENERGY CORP 2.4% 15 AUG 2022 - 70000 SHS | 68,808 | 72,110 |
| DUPONT DE NEMOURS INC 4.205% 15 NOV 2023 - 65000 SHS | 65,912 | 71,711 |
| EXXON MOBIL CORP 2.44% 16 AUG 2029 - 65000 SHS | 65,419 | 70,557 |
| FANNIE MAE POOL FN 257041 5.5% 01 JAN 2038 - 969000 SHS | 11,047 | 12,159 |
| FANNIE MAE POOL FN 357426 5% 01 SEP 2033 - 491000 SHS | 9,534 | 10,390 |
| FANNIE MAE POOL FN 725228 6% 01 MAR 2034 - 1031000 SHS | 15,389 | 17,855 |
| FANNIE MAE POOL FN 735580 5% 01 JUN 2035 - 308000 SHS | 8,061 | 9,135 |
| FANNIE MAE POOL FN 745822 6% 01 SEP 2036 - 1280000 SHS | 18,092 | 21,500 |
| FANNIE MAE POOL FN 865116 6% 01 FEB 2036 - 153000 SHS | 2,192 | 2,557 |
| FANNIE MAE POOL FN 878201 6% 01 SEP 2036 - 136000 SHS | 2,560 | 2,997 |
| FANNIE MAE POOL FN 928480 6% 01 JUL 2037 - 135000 SHS | 3,545 | 4,120 |
| FANNIE MAE POOL FN 946351 6% 01 SEP 2037 - 28000 SHS | 328 | 376 |
| FANNIE MAE POOL FN 950796 6% 01 OCT 2037 - 149000 SHS | 1,241 | 1,442 |
| FANNIE MAE POOL FN 985615 5.5% 01 APR 2034 - 245000 SHS | 3,859 | 4,358 |
| FANNIE MAE POOL FN 988107 5% 01 AUG 2023 - 165000 SHS | 707 | 741 |
| FANNIE MAE POOL FN AA7236 4% 01 JUN 2039 - 65000 SHS | 6,390 | 6,868 |
| FANNIE MAE POOL FN AB1500 4% 01 SEP 2040 - 107000 SHS | 9,531 | 10,046 |
| FANNIE MAE POOL FN AE0103 6% 01 MAY 2039 - 38000 SHS | 1,584 | 1,825 |
| FANNIE MAE POOL FN AE0207 4.5% 01 NOV 2033 - 108000 SHS | 6,262 | 6,742 |
| FANNIE MAE POOL FN AE0981 3.5% 01 MAR 2041 - 87000 SHS | 13,451 | 14,112 |
| FANNIE MAE POOL FN AE3049 4.5% 01 SEP 2040 - 233000 SHS | 19,253 | 20,469 |
| FANNIE MAE POOL FN AE3066 3.5% 01 SEP 2025 - 131000 SHS | 5,940 | 6,257 |
| FANNIE MAE POOL FN AH6827 4% 01 MAR 2026 - 119000 SHS | 5,916 | 6,234 |
| FANNIE MAE POOL FN AJ7715 3% 01 DEC 2026 - 117000 SHS | 16,861 | 17,623 |
| FANNIE MAE POOL FN AJ9355 3% 01 JAN 2027 - 80000 SHS | 10,571 | 11,008 |
| FANNIE MAE POOL FN AL0393 4.5% 01 JUN 2041 - 55000 SHS | 7,365 | 8,069 |
| FANNIE MAE POOL FN AL1410 4.5% 01 DEC 2041 - 145000 SHS | 18,458 | 19,735 |
| FANNIE MAE POOL FN AL9994 2.5% 01 APR 2032 - 36000 SHS | 18,468 | 20,262 |
| FANNIE MAE POOL FN AO4144 4% 01 JUN 2042 - 74000 SHS | 10,884 | 11,670 |
| FANNIE MAE POOL FN AQ0546 3.5% 01 NOV 2042 - 67000 SHS | 17,060 | 18,460 |
| FANNIE MAE POOL FN AS6191 3.5% 01 NOV 2045 - 52000 SHS | 21,152 | 22,416 |
| FANNIE MAE POOL FN AS9585 4% 01 MAY 2047 - 325000 SHS | 172,251 | 187,966 |
| FANNIE MAE POOL FN AT2062 2.5% 01 APR 2028 - 65000 SHS | 16,573 | 17,299 |
| FANNIE MAE POOL FN AT2720 3% 01 MAY 2043 - 124000 SHS | 48,623 | 51,980 |
| FANNIE MAE POOL FN AU3735 3% 01 AUG 2043 - 60000 SHS | 25,015 | 26,678 |
| FANNIE MAE POOL FN AX5306 3.5% 01 JAN 2027 - 150000 SHS | 30,318 | 32,063 |
| FANNIE MAE POOL FN BC4745 3% 01 OCT 2046 - 75000 SHS | 44,731 | 51,191 |
| FANNIE MAE POOL FN BH9288 4% 01 FEB 2048 - 108000 SHS | 74,168 | 79,439 |
| FANNIE MAE POOL FN BM4075 3.5% 01 MAR 2032 - 55000 SHS | 25,756 | 27,012 |
| FANNIE MAE POOL FN CA0853 3.5% 01 DEC 2047 - 121000 SHS | 77,800 | 85,542 |
| FANNIE MAE POOL FN FM1000 3% 01 APR 2047 - 200000 SHS | 127,883 | 132,879 |
| FANNIE MAE POOL FN FM1324 3% 01 NOV 2031 - 175000 SHS | 115,104 | 118,252 |
| FANNIE MAE POOL FN FM1456 2.5% 01 SEP 2028 - 130000 SHS | 91,100 | 94,255 |
| FANNIE MAE POOL FN MA0258 4.5% 01 DEC 2039 - 118000 SHS | 8,651 | 9,181 |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION 2.125% 24 APR 2026 - 65000 SHS | 61,104 | 70,817 |
| FIFTH THIRD BANK NA 2.25% 14 JUN 2021 - 70000 SHS | 69,915 | 70,485 |
| FREDDIE MAC GOLD POOL FG G01840 5% 01 JUL 2035 - 318000 SHS | 7,818 | 8,838 |
| FREDDIE MAC GOLD POOL FG G04774 4.5% 01 JAN 2038 - 164000 SHS | 5,063 | 5,445 |
| FREDDIE MAC GOLD POOL FG G08344 4.5% 01 MAY 2039 - 90000 SHS | 3,680 | 4,021 |
| FREDDIE MAC GOLD POOL FG G08463 4% 01 OCT 2041 - 70000 SHS | 6,354 | 6,766 |
| FREDDIE MAC GOLD POOL FG G08681 3.5% 01 DEC 2045 - 153000 SHS | 52,145 | 54,501 |
| FREDDIE MAC GOLD POOL FG G14056 4% 01 AUG 2025 - 125000 SHS | 4,613 | 4,838 |
| FREDDIE MAC GOLD POOL FG G18536 2.5% 01 JAN 2030 - 109000 SHS | 33,181 | 34,204 |
| FREDDIE MAC GOLD POOL FG G18549 2.5% 01 APR 2030 - 295000 SHS | 110,149 | 110,095 |
| FREDDIE MAC GOLD POOL FG G18553 2.5% 01 MAY 2030 - 20000 SHS | 7,233 | 7,506 |
| FREDDIE MAC GOLD POOL FG G60138 3.5% 01 AUG 2045 - 170000 SHS | 80,723 | 88,691 |
| FREDDIE MAC GOLD POOL FG G67709 3.5% 01 MAR 2048 - 188000 SHS | 121,958 | 136,773 |
| FREDDIE MAC GOLD POOL FG J16353 3.5% 01 AUG 2026 - 114000 SHS | 8,283 | 8,696 |
| FREDDIE MAC GOLD POOL FG J17508 3% 01 DEC 2026 - 137000 SHS | 16,122 | 16,629 |
| GILEAD SCIENCES INC 3.65% 01 MAR 2026 - 65000 SHS | 65,869 | 73,741 |
| GOLDMAN SACHS GROUP INC/THE VARIABLE 2.905% 24 JUL 2023 - 70000 SHS | 69,500 | 72,705 |
| HSBC HOLDINGS PLC VARIABLE 3.973% 22 MAY 2030 - 65000 SHS | 66,271 | 75,059 |
| INTERNATIONAL BUSINESS MACHINES CORP 3.45% 19 FEB 2026 - 65000 SHS | 65,762 | 73,761 |
| INTERNATIONAL BUSINESS MACHINES CORP 3.5% 15 MAY 2029 - 65000 SHS | 66,214 | 75,210 |
| KROGER CO/THE 2.65% 15 OCT 2026 - 65000 SHS | 64,128 | 70,999 |
| LOWE'S COS INC 3.65% 05 APR 2029 - 65000 SHS | 69,120 | 75,853 |
| MOLSON COORS BEVERAGE CO 3.5% 01 MAY 2022 - 70000 SHS | 70,335 | 72,789 |
| MORGAN STANLEY 3.7% 23 OCT 2024 - 125000 SHS | 126,297 | 139,100 |
| ORACLE CORP 2.625% 15 FEB 2023 - 70000 SHS | 70,112 | 73,270 |
| SOUTHERN CO 3.70% 30 APR 2030 - 65000 SHS | 65,088 | 75,268 |
| TD AMERITRADE HOLDING CORP 3.75% 01 APR 2024 - 65000 SHS | 65,509 | 71,362 |
| TOYOTA MOTOR CREDIT CORP 2.95% 13 APR 2021 - 70000 SHS | 70,068 | 70,517 |
| TOYOTA MOTOR CREDIT CORP 3.4% 15 SEP 2021 - 70000 SHS | 70,191 | 71,500 |
| TRUIST FINANCIAL CORP 2.7% 27 JAN 2022 - 70000 SHS | 70,116 | 71,652 |
| VALERO ENERGY CORP 3.4% 15 SEP 2026 - 70000 SHS | 69,322 | 76,751 |
| VERIZON COMMUNICATIONS INC .85% 20 NOV 2025 - 72000 SHS | 71,993 | 72,566 |
| WALMART INC 3.55% 26 JUN 2025 - 65000 SHS | 65,928 | 73,603 |
| WELLS FARGO BANK NA 2.6% 15 JAN 2021 - 70000 SHS | 69,953 | 70,045 |
| PGIM HIGH YIELD FUND - 134177.671 SHS | 729,199 | 739,319 |
| HP INC 3.4% 17 JUN 2030 - 67000 SHS | 66,907 | 74,561 |
| EQUINOR ASA 3.7% 01 MAR 2024 - 65000 SHS | 66,296 | 71,424 |
| LLOYDS BANKING GROUP PLC SNR PIDI NTS 4.375% 22 MAR 2028 - 65000 SHS | 65,746 | 77,359 |
| MITSUBISHI UFJ FINANCIAL GROUP INC 2.801% 18 JUL 2024 - 70000 SHS | 70,478 | 75,036 |
| ROYAL BANK OF CANADA 2.5% 19 JAN 2021 - 70000 SHS | 69,998 | 70,062 |
| SHELL INTERNATIONAL FINANCE BV 2.375% 07 NOV 2029 - 71000 SHS | 70,011 | 76,436 |
| BANK OF NOVA SCOTIA/THE 2.2% 03 FEB 2025 - 70000 SHS | 70,118 | 74,379 |
| DOUBLELINE EMERGING MARKETS FIXED INCOME FUND - 21251.419 SHS | 222,363 | 225,903 |
| VANGUARD EMERGING MARKETS BOND FUND - 5343.367 SHS | 142,668 | 151,965 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ADOBE INC - 181 SHS | 61,854 | 90,522 |
| ALPHABET INC - 68 SHS | 20,402 | 119,128 |
| AMAZON.COM INC - 47 SHS | 39,508 | 153,076 |
| AMERICAN EXPRESS CO - 639 SHS | 71,652 | 77,261 |
| AMERICAN TOWER CORP - 314 SHS | 64,925 | 70,480 |
| APPLE INC - 277 SHS | 14,099 | 36,755 |
| AUTODESK INC - 409 SHS | 66,655 | 124,884 |
| CHARTER COMMUNICATIONS INC - 167 SHS | 68,509 | 110,479 |
| DANAHER CORP - 440 SHS | 62,211 | 97,742 |
| DEERE & CO - 327 SHS | 52,787 | 87,979 |
| DEXCOM INC - 234 SHS | 34,497 | 86,514 |
| EDWARDS LIFESCIENCES CORP - 1001 SHS | 64,973 | 91,321 |
| ESTEE LAUDER COS INC/THE - 344 SHS | 63,042 | 91,569 |
| INTUIT INC - 293 SHS | 27,221 | 111,296 |
| INTUITIVE SURGICAL INC - 171 SHS | 91,582 | 139,895 |
| L3HARRIS TECHNOLOGIES INC - 369 SHS | 72,018 | 69,748 |
| LAM RESEARCH CORP - 141 SHS | 42,966 | 66,590 |
| LULULEMON ATHLETICA INC - 221 SHS | 47,124 | 76,915 |
| MASTERCARD INC - 325 SHS | 98,438 | 116,006 |
| MICROSOFT CORP - 783 SHS | 72,750 | 174,155 |
| PAYPAL HOLDINGS INC - 559 SHS | 63,769 | 130,918 |
| QUALCOMM INC - 281 SHS | 34,104 | 42,808 |
| SBA COMMUNICATIONS CORP - 373 SHS | 85,955 | 105,234 |
| SERVICENOW INC - 129 SHS | 69,190 | 71,005 |
| T-MOBILE US INC - 530 SHS | 49,499 | 71,471 |
| ZOETIS INC - 735 SHS | 67,194 | 121,643 |
| AIR PRODUCTS AND CHEMICALS INC - 275 SHS | 46,631 | 75,136 |
| BEIERSDORF AG - 494 SHS | 11,603 | 11,584 |
| BERKSHIRE HATHAWAY INC - 191 SHS | 39,260 | 44,287 |
| CAPITAL ONE FINANCIAL CORP - 320 SHS | 30,132 | 31,632 |
| CHARLES SCHWAB CORP/THE - 710 SHS | 27,633 | 37,658 |
| CINTAS CORP - 242 SHS | 56,890 | 85,537 |
| COMCAST CORP - 2064 SHS | 76,187 | 108,154 |
| COSTCO WHOLESALE CORP - 194 SHS | 51,583 | 73,095 |
| ELECTRONIC ARTS INC - 931 SHS | 100,343 | 133,692 |
| HOME DEPOT INC/THE - 257 SHS | 37,920 | 68,264 |
| HONEYWELL INTERNATIONAL INC - 445 SHS | 36,067 | 94,652 |
| ILLINOIS TOOL WORKS INC - 320 SHS | 48,249 | 65,242 |
| ISHARES CORE S&P 500 ETF - 4155 SHS | 1,217,423 | 1,559,745 |
| KEURIG DR PEPPER INC - 1339 SHS | 36,644 | 42,848 |
| KNORR-BREMSE AG - 313 SHS | 8,909 | 10,570 |
| MARSH & MCLENNAN COS INC - 466 SHS | 46,542 | 54,522 |
| MATCH GROUP INC - 598 SHS | 64,923 | 90,412 |
| ORACLE CORP - 532 SHS | 29,854 | 34,415 |
| PEPSICO INC - 268 SHS | 33,995 | 39,744 |
| PPG INDUSTRIES INC - 311 SHS | 33,162 | 44,852 |
| ROPER TECHNOLOGIES INC - 217 SHS | 79,408 | 93,547 |
| THERMO FISHER SCIENTIFIC INC - 270 SHS | 11,487 | 125,761 |
| UNITEDHEALTH GROUP INC - 151 SHS | 37,381 | 52,953 |
| AMGEN INC - 162 SHS | 31,109 | 37,247 |
| ANTHEM INC - 171 SHS | 47,412 | 54,906 |
| BANK OF AMERICA CORP - 3666 SHS | 99,646 | 111,116 |
| BANK OF NEW YORK MELLON CORP/THE - 931 SHS | 37,775 | 39,512 |
| CHEVRON CORP - 485 SHS | 46,513 | 40,958 |
| CONOCOPHILLIPS - 726 SHS | 27,997 | 29,033 |
| JOHNSON & JOHNSON - 386 SHS | 54,701 | 60,749 |
| JPMORGAN CHASE & CO - 1026 SHS | 27,212 | 130,374 |
| MERCK & CO INC - 491 SHS | 16,974 | 40,164 |
| NORTHROP GRUMMAN CORP - 169 SHS | 58,532 | 51,498 |
| PROGRESSIVE CORP/THE - 484 SHS | 38,325 | 47,858 |
| RAYTHEON TECHNOLOGIES CORP - 1326 SHS | 74,718 | 94,822 |
| SEMPRA ENERGY - 643 SHS | 81,426 | 81,925 |
| SHERWIN-WILLIAMS CO/THE - 144 SHS | 65,928 | 105,827 |
| TRAVELERS COS INC/THE - 294 SHS | 40,719 | 41,269 |
| UNITED PARCEL SERVICE INC - 440 SHS | 47,435 | 74,096 |
| US BANCORP - 1024 SHS | 49,667 | 47,708 |
| VOLKSWAGEN AG - 868 SHS | 14,452 | 16,162 |
| OTIS WORLDWIDE CORP - 522 SHS | 22,056 | 35,261 |
| ARTISAN MID CAP FUND - 7619.785 SHS | 326,071 | 423,431 |
| REYNOLDS CONSUMER PRODUCTS INC - 1550 SHS | 48,553 | 46,562 |
| VICTORY RS SMALL CAP GROWTH FUND - 3769.16 SHS | 287,824 | 389,807 |
| BROWN-FORMAN CORP - 953 SHS | 53,733 | 75,697 |
| FORTIVE CORP - 1034 SHS | 67,711 | 73,228 |
| ISHARES CORE S&P MID-CAP ETF - 3018 SHS | 571,223 | 693,627 |
| ISHARES CORE S&P SMALL-CAP ETF - 7606 SHS | 468,937 | 698,991 |
| MARTIN MARIETTA MATERIALS INC - 148 SHS | 33,682 | 42,028 |
| MOTOROLA SOLUTIONS INC - 361 SHS | 58,521 | 61,392 |
| AMERISOURCEBERGEN CORP - 312 SHS | 26,933 | 30,501 |
| DISH NETWORK CORP - 2393 SHS | 82,199 | 77,390 |
| EDISON INTERNATIONAL - 1408 SHS | 87,562 | 88,451 |
| NUANCE MID CAP VALUE FUND - 20311.946 SHS | 265,883 | 286,195 |
| PGIM QMA SMALL-CAP VALUE FUND - 17588.832 SHS | 357,551 | 280,718 |
| VERTIV HOLDINGS LLC - 1771 SHS | 29,519 | 33,065 |
| ABB LTD - 563 SHS | 11,126 | 15,741 |
| ACCENTURE PLC - 46 SHS | 7,171 | 12,016 |
| AIA GROUP LTD - 287 SHS | 9,619 | 14,100 |
| AIR LIQUIDE SA - 316 SHS | 9,591 | 10,393 |
| ALIBABA GROUP HOLDING LTD - 221 SHS | 37,443 | 51,433 |
| ALSTOM SA - 1267 SHS | 6,704 | 7,209 |
| AMERICAN FUNDS EUROPACIFIC GROWTH FUND - 11107.323 SHS | 361,313 | 770,404 |
| AON PLC - 81 SHS | 11,500 | 17,113 |
| BANCO SANTANDER SA - 2614 SHS | 6,823 | 7,973 |
| BHP GROUP LTD - 158 SHS | 7,740 | 10,324 |
| BNP PARIBAS SA - 289 SHS | 8,363 | 7,690 |
| CANADIAN NATIONAL RAILWAY CO - 81 SHS | 6,814 | 8,898 |
| CARLSBERG AS - 329 SHS | 7,582 | 10,571 |
| CONTINENTAL AG - 393 SHS | 4,295 | 5,879 |
| DAIWA HOUSE INDUSTRY CO LTD - 263 SHS | 9,639 | 7,853 |
| DBS GROUP HOLDINGS LTD - 108 SHS | 9,306 | 8,213 |
| ENEL SPA - 1577 SHS | 13,371 | 16,007 |
| ENGIE SA - 1243 SHS | 18,237 | 19,018 |
| EQUINOR ASA - 364 SHS | 8,117 | 5,977 |
| FUJITSU LTD - 226 SHS | 6,156 | 6,546 |
| HEXAGON AB - 110 SHS | 6,466 | 9,972 |
| HITACHI LTD - 164 SHS | 12,992 | 13,022 |
| INDUSTRIA DE DISENO TEXTIL SA - 275 SHS | 3,873 | 4,411 |
| INFORMA PLC - 403 SHS | 7,771 | 6,031 |
| INTERTEK GROUP PLC - 53 SHS | 4,130 | 4,239 |
| KAO CORP - 491 SHS | 7,416 | 7,581 |
| KONINKLIJKE DSM NV - 268 SHS | 7,260 | 11,586 |
| LONDON STOCK EXCHANGE GROUP PLC - 226 SHS | 6,660 | 7,065 |
| LONZA GROUP AG - 164 SHS | 5,193 | 10,509 |
| MAKITA CORP - 218 SHS | 10,072 | 10,972 |
| MEDTRONIC PLC - 149 SHS | 12,837 | 17,454 |
| MERCK KGAA - 260 SHS | 7,623 | 8,936 |
| NEXON CO LTD - 320 SHS | 6,880 | 9,917 |
| NINTENDO CO LTD - 237 SHS | 11,468 | 19,083 |
| NORDEA BANK ABP - 1001 SHS | 8,527 | 8,168 |
| NOVARTIS AG - 460 SHS | 35,550 | 43,438 |
| NXP SEMICONDUCTORS NV - 445 SHS | 44,163 | 70,759 |
| PERNOD RICARD SA - 271 SHS | 9,741 | 10,393 |
| PRUDENTIAL PLC - 279 SHS | 13,995 | 10,303 |
| RELX PLC - 771 SHS | 17,244 | 19,013 |
| RYANAIR HOLDINGS PLC - 86 SHS | 9,534 | 9,458 |
| RYOHIN KEIKAKU CO LTD - 410 SHS | 12,054 | 8,389 |
| SAFRAN SA - 515 SHS | 15,360 | 18,262 |
| SAMPO OYJ - 496 SHS | 12,385 | 10,684 |
| SANDVIK AB - 452 SHS | 9,045 | 11,115 |
| SANOFI - 377 SHS | 16,523 | 18,318 |
| SHIMANO INC - 408 SHS | 6,844 | 9,600 |
| SHIN-ETSU CHEMICAL CO LTD - 362 SHS | 8,609 | 15,921 |
| SHOPIFY INC - 87 SHS | 88,181 | 98,480 |
| SIEMENS GAMESA RENEWABLE ENERGY SA - 834 SHS | 3,046 | 6,726 |
| SUMITOMO MITSUI FINANCIAL GROUP INC - 1554 SHS | 13,103 | 9,588 |
| SUNCOR ENERGY INC - 1810 SHS | 53,999 | 30,372 |
| SUZUKI MOTOR CORP - 39 SHS | 7,932 | 7,288 |
| TC ENERGY CORP - 814 SHS | 40,871 | 33,146 |
| TE CONNECTIVITY LTD - 827 SHS | 75,247 | 100,125 |
| TELENOR ASA - 548 SHS | 11,036 | 9,316 |
| TESCO PLC - 1227 SHS | 11,305 | 11,865 |
| UNILEVER PLC - 201 SHS | 11,193 | 12,132 |
| VANGUARD DEVELOPED MARKETS INDEX FUND - 43650.154 SHS | 588,373 | 664,792 |
| VESTAS WIND SYSTEMS A/S - 181 SHS | 4,902 | 14,160 |
| VINCI SA - 301 SHS | 7,552 | 7,501 |
| VIVENDI SE - 607 SHS | 15,789 | 19,485 |
| WOLTERS KLUWER NV - 109 SHS | 6,002 | 9,149 |
| Z HOLDINGS CORP - 419 SHS | 4,207 | 5,078 |
| ARTISAN DEVELOPING WORLD FUND - 14384.941 SHS | 195,635 | 384,222 |
| BARON EMERGING MARKETS FUND - 45072.547 SHS | 617,257 | 859,083 |
| FERGUSON PLC - 930 SHS | 7,477 | 11,262 |
| FLUGHAFEN ZURICH AG - 596 SHS | 2,652 | 4,291 |
| VANGUARD EMERGING MARKETS STOCK INDEX FUND/UNITED STATES - 8672.32 SHS | 313,146 | 361,462 |
| GENPACT LTD - 1179 SHS | 41,611 | 48,763 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| REGIONS SOUTHEAST TIMBER FUNDS II, LLC - 5025 SHS | AT COST | 502,500 | 606,108 |
| BLACK WARRIOR COAL CO CAPITAL STOCK - 250 SHS | AT COST | 86,345 | 38,100 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEES | 35 | 35 | 0 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| D & O INSURANCE | 3,715 | 0 | 3,715 | |
| INVESTMENT MGT EXPENSE | 39,658 | 39,658 | 0 | |
| ADR FEES | 682 | 682 | 0 | |
| INVESTMENT EXPENSES | 8,777 | 8,777 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| REGIONS SE TIMBER FD II, ORD LOSS | -11,860 | -11,860 | -11,860 |
| REGIONS SE TIMBER FD II, 1231 GAIN | 9,532 | 9,532 | 9,532 |
| Description | Amount |
|---|---|
| BOOK/TAX TIMING DIFFERENCE | 4,529 |
| PARTNERSHIP INCOME (LOSS) BOOK/TAX TIMING DIFFERENCE | 6,019 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN WITHHOLDING TAXES | 5,478 | 5,478 | 0 | |
| EXCISE TAX PAYMENTS | 9,184 | 0 | 0 |