| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 16,481 | 16,481 | 0 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| BLACKROCK HIGH YIELD BOND INSTL CL 45871.56 SH | 350,000 | 357,338 |
| LORD ABBETT SHORT DURATION INCOME CL F 59382.42 SH | 250,000 | 250,000 |
| ARES CAPITAL CORP 2781 SH | 47,320 | 46,971 |
| ADVOCATE 4.272 081548 19000 SH | 22,395 | 24,715 |
| AIR LEASE 3.0 020130 26000 SH | 25,835 | 26,837 |
| ANHEUSER 3.65 020126 19000 SH | 19,893 | 21,476 |
| ANHEUSER 3.65 020126 3000 SH | 3,370 | 3,393 |
| AT&T INC 4.25 030127 23000 SH | 24,789 | 26,892 |
| BAC SER MM 4.3 PERPTL 27000 SH | 26,528 | 27,844 |
| BORGWARNER 2.65 070127 25000 SH | 25,044 | 26,867 |
| BROADCOM COR3.875 011527 23000 SH | 25,726 | 25,856 |
| CAMPBEL SOUP2.375 042430 48000 SH | 50,180 | 50,359 |
| CHENIERE NT 5.875 033125 23000 SH | 25,982 | 26,709 |
| COMCAST CORP 4.15 101528 22000 SH | 24,534 | 26,333 |
| COMMONSPIRIT3.347 100129 25000 SH | 25,169 | 27,485 |
| CROWN CASTLE 4.3 021529 23000 SH | 25,289 | 27,194 |
| CVS HLTH 5.125 072045 23000 SH | 26,928 | 30,850 |
| DIAMONDBACK 3.5 120129 24000 SH | 25,082 | 25,560 |
| FISERV NOTE 4.2 100128 22000 SH | 24,341 | 26,127 |
| GEORGE WASH 4.126 091548 21000 SH | 25,962 | 26,164 |
| GM SR NOTE 4.25 051523 28000 SH | 28,922 | 30,210 |
| GS SR NOTE 3.5 111626 36000 SH | 37,304 | 40,385 |
| KAISER FNDTN 3.15 050127 22000 SH | 22,785 | 24,807 |
| KINDER MORGAN 4.3 030128 22000 SH | 25,506 | 25,779 |
| LEAR CORP 3.5 053030 26000 SH | 26,436 | 28,193 |
| LOWES COS NT 4.0 041525 22000 SH | 23,154 | 24,995 |
| MAGNA INTL 2.45 061530 25000 SH | 25,164 | 26,865 |
| MARRIOTT INT4.625 061530 22000 SH | 25,717 | 25,800 |
| MICROSOFT CO2.525 060150 25000 SH | 25,709 | 26,236 |
| MS SR NT 4.431 012330 22000 SH | 26,400 | 26,769 |
| NATIONAL RURA3.25 110125 24000 SH | 25,252 | 26,699 |
| NJ ST TRANSN5.754 121528 20000 SH | 22,765 | 23,613 |
| NORTHERN STS 2.9 030150 25000 SH | 24,954 | 28,218 |
| PARKER HANNI 3.25 061429 24000 SH | 24,714 | 27,120 |
| PIONEER NAT 1.9 081530 26000 SH | 25,793 | 25,770 |
| PRECISION 3.25 061525 23000 SH | 24,735 | 25,341 |
| PULTE CORP 7.875 061532 17000 SH | 24,755 | 25,436 |
| RELX CAP 3.0 052230 3000 SH | 3,310 | 3,335 |
| RELX CAP 4.0 031829 22000 SH | 23,309 | 26,068 |
| SCHWAB CHAR 5.375 PERPTL 36000 SH | 37,556 | 40,095 |
| STHWST ARLNS 5.25 050425 22000 SH | 25,050 | 25,438 |
| V F CORP 2.8 042327 25000 SH | 25,251 | 27,302 |
| VERIZON COMM3.875 020829 23000 SH | 24,946 | 27,004 |
| VISA INC 3.15 121425 23000 SH | 24,005 | 25,786 |
| WALMART NT 4.05 062948 18000 SH | 21,443 | 24,397 |
| WALT DISNEY 1.85 073026 24000 SH | 23,212 | 25,221 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| DIAMOND HILL SHORT DURATION SECURITIZED BOND CL I 24557.96 SH | 250,000 | 247,790 |
| GRANT PARK MULTI ALTERNATIVE STRATEGIES CL I 25597.27 SH | 300,000 | 291,553 |
| JAMES ALPHA XXX GLOBAL REAL ESTATE INVESTMENTS CL I 18646.78 SH | 350,000 | 322,589 |
| BLUEROCK TOTAL INCOME PLUS REAL ESTATE CL I 9004.58 SH | 271,366 | 268,337 |
| ARTHUR J GALLAGHER & COMPANY 57 SH | 5,157 | 7,050 |
| ALIGN TECHNOLOGY INC 20 SH | 5,251 | 10,687 |
| ANSYS INC 18 SH | 5,928 | 6,547 |
| ALTERYX INC CL A 27 SH | 2,602 | 3,287 |
| ASPEN TECHNOLOGY INC 49 SH | 5,958 | 6,381 |
| BIOMARIN PHARMACEUTICAL INC 30 SH | 3,529 | 2,630 |
| BROADRIDGE FINANCIAL SOLUTIONS INC 28 SH | 3,694 | 4,289 |
| BURLINGTON STORES INC 37 SH | 6,513 | 9,676 |
| CABLE ONE INC 4 SH | 4,860 | 8,910 |
| CDW CORP 63 SH | 7,005 | 8,302 |
| CHIPOTLE MEXICAN GRILL INC CL A 8 SH | 5,416 | 11,094 |
| COOPER COS INC NEW 21 SH | 6,662 | 7,630 |
| COPART INC 73 SH | 7,017 | 9,289 |
| COSTAR GROUP INC 9 SH | 7,159 | 8,319 |
| CATALENT INC 93 SH | 6,676 | 9,679 |
| D R HORTON INC 49 SH | 2,147 | 3,377 |
| DEXCOM INC 17 SH | 2,607 | 6,285 |
| EURONET WORLDWIDE INC 45 SH | 7,516 | 6,521 |
| EPAM SYSTEMS INC 33 SH | 6,101 | 11,826 |
| FASTENAL CO 101 SH | 3,228 | 4,932 |
| FIVE BELOW INC 64 SH | 7,057 | 11,199 |
| FLOOR & DECOR HOLDINGS INC CL A 49 SH | 3,672 | 4,550 |
| GRACO INC 97 SH | 4,896 | 7,018 |
| GENERAC HOLDINGS INC 41 SH | 4,623 | 9,324 |
| HEICO CORP NEW 43 SH | 4,578 | 5,693 |
| ICON PLC 41 SH | 6,246 | 7,994 |
| IDEXX LABORATORIES INC 18 SH | 4,969 | 8,998 |
| IDEX CORP 22 SH | 3,759 | 4,382 |
| JAZZ PHARMACEUTICALS PLC SHS USD 26 SH | 3,632 | 4,291 |
| JB HUNT TRANSPORT SERVICES INC 37 SH | 4,067 | 5,056 |
| JACK HENRY & ASSOCIATES INC 20 SH | 2,945 | 3,240 |
| KEYSIGHT TECHNOLOGIES INC 75 SH | 6,908 | 9,907 |
| LAMB WESTON HLDGS INC 91 SH | 5,779 | 7,165 |
| MICROCHIP TECHNOLOGY INC 73 SH | 6,434 | 10,082 |
| MARKETAXESS HOLDINGS INC 10 SH | 3,425 | 5,706 |
| MONOLITHIC POWER SYSTEM INC 35 SH | 4,763 | 12,818 |
| MERCURY SYSTEM INC 70 SH | 4,842 | 6,164 |
| MSCI INC CLASS A 12 SH | 5,028 | 5,358 |
| NCR CORP NEW 126 SH | 4,584 | 4,734 |
| PAYCOM SOFTWARE INC 27 SH | 6,530 | 12,211 |
| PINNACLE FINANCIAL PARTNERS INC 84 SH | 4,897 | 5,410 |
| INSULET CORP 34 SH | 3,996 | 8,691 |
| POOL CORP 27 SH | 5,172 | 10,058 |
| PTC INC 52 SH | 4,018 | 6,220 |
| QUALYS INC 36 SH | 3,554 | 4,387 |
| REPLIGEN CORP 38 SH | 4,711 | 7,282 |
| RESMED INC 41 SH | 6,591 | 8,715 |
| ROCKWELL AUTOMATION INC 20 SH | 3,178 | 5,016 |
| RBC BEARINGS INC 12 SH | 2,142 | 2,148 |
| SYNOPSYS INC 43 SH | 5,804 | 11,147 |
| TREX CO INC 94 SH | 4,021 | 7,870 |
| TRANSUNION 57 SH | 4,233 | 5,656 |
| TRACTOR SUPPLY CO 58 SH | 7,452 | 8,154 |
| TAKE-TWO INTERACTIVE INC 39 SH | 4,460 | 8,104 |
| TYLER TECHNOLOGIES INC 17 SH | 3,723 | 7,421 |
| UNDER ARMOUR INC CL A 270 SH | 4,037 | 4,636 |
| VEEVA SYSTEMS INC CL A 34 SH | 6,344 | 9,257 |
| VERISK ANALYTICS INC 36 SH | 5,364 | 7,473 |
| VERISIGN INC 25 SH | 4,324 | 5,410 |
| ALLIED MOTION TECH INC 417 SH | 15,634 | 21,309 |
| AVANOS MEDICAL INC 316 SH | 10,827 | 14,498 |
| BANK MARIN BANCORP 367 SH | 15,604 | 12,603 |
| BROWN & BROWN INC 301 SH | 10,427 | 14,270 |
| BRP GROUP INC CL A 410 SH | 4,100 | 12,288 |
| CANNAE HOLDINGS INC 302 SH | 8,806 | 13,370 |
| EDGEWELL PERSONAL CARE CO 455 SH | 11,885 | 15,734 |
| FARO TECHNOLOGIES INC 212 SH | 11,629 | 14,974 |
| FRONTDOOR INC 260 SH | 11,370 | 13,055 |
| FORWARD AIR CORP 177 SH | 10,413 | 13,601 |
| GLADSTONE COMMERCIAL * CORP 722 SH | 15,371 | 12,996 |
| HEALTHCARE SVCS GROUP 635 SH | 14,440 | 17,844 |
| I3 VERTICALS INC 715 SH | 17,437 | 23,738 |
| JOHN BEAN TECHNOLOGIES CORP 166 SH | 18,962 | 18,902 |
| J & J SNACK FOODS CORP 109 SH | 13,702 | 16,935 |
| JAMES RIVER GROUP HOLDINGS LTD 248 SH | 9,398 | 12,189 |
| KADANT INC 93 SH | 8,424 | 13,111 |
| MORNINGSTAR INC 57 SH | 7,539 | 13,199 |
| MOVADO GROUP INC 830 SH | 19,840 | 13,795 |
| NATHANS FAMOUS INC NEW 67 SH | 5,259 | 3,700 |
| NEENAH INC 235 SH | 15,613 | 13,000 |
| NATUS MEDICAL INC DELAWARE 611 SH | 15,622 | 12,244 |
| NORTHWEST NATURAL HOLDING CO NEW 224 SH | 15,631 | 10,302 |
| PHIBRO ANIMAL HEALTH CORP CL A 487 SH | 15,629 | 9,458 |
| PERFICIENT INC 184 SH | 5,893 | 8,768 |
| RESOURCES CONNECTION INC 987 SH | 15,669 | 12,407 |
| RE/MAX HOLDINGS INC CL A 347 SH | 10,511 | 12,607 |
| RBC BEARINGS INC 104 SH | 16,592 | 18,620 |
| RAYONIER INC * 509 SH | 15,652 | 14,954 |
| SJW GROUP 183 SH | 11,626 | 12,693 |
| THERMON GROUP HLDGS INC 604 SH | 15,595 | 9,441 |
| VERITEX HOLDINGS INC 602 SH | 15,637 | 15,447 |
| WINNEBAGO INDUSTRIES INC 298 SH | 14,395 | 17,862 |
| ANALOG DEVICES INC 434 SH | 42,095 | 64,115 |
| BROADRIDGE FINANCIAL SOLUTIONS INC 505 SH | 55,674 | 77,366 |
| BERKSHIRE HATHAWAY INC CL B NEW 135 SH | 27,097 | 31,302 |
| CHUBB LTD 419 SH | 59,027 | 64,492 |
| COLGATE-PALMOLIVE COMPANY 863 SH | 61,904 | 73,795 |
| CISCO SYSTEMS INC 1440 SH | 66,151 | 64,440 |
| CHEVRON CORP 509 SH | 59,246 | 42,985 |
| DIAGEO PLC NEW SPON ADR 428 SH | 58,150 | 67,971 |
| DIGITAL REALTY * TRUST INC 520 SH | 58,504 | 72,545 |
| DOW INC 1273 SH | 65,232 | 70,652 |
| ENTERGY CORP NEW 604 SH | 59,295 | 60,303 |
| FASTENAL CO 1365 SH | 36,591 | 66,653 |
| FIDELITY NATIONAL FINANCIAL INC NEW FNF GROUP COM 2033 SH | 70,746 | 79,470 |
| GRACO INC 1341 SH | 51,622 | 97,021 |
| GILEAD SCIENCES INC 979.88 SH | 68,973 | 57,088 |
| KINDER MORGAN INC DE 3083 SH | 59,853 | 42,145 |
| LINDE PLC 309 SH | 58,032 | 81,425 |
| LOCKHEED MARTIN CORP 169 SH | 58,785 | 59,992 |
| 3M COMPANY 364 SH | 62,128 | 63,624 |
| MICROSOFT CORP 325.72 SH | 11,589 | 72,446 |
| NESTLE S A SPON ADR REPSTG REG SHS 608 SH | 57,610 | 71,622 |
| NORTHERN TRUST CORP 717 SH | 61,729 | 66,781 |
| PAYCHEX INC 840 SH | 62,478 | 78,271 |
| PEPSICO INC 473 SH | 56,292 | 70,146 |
| PFIZER INC 1677 SH | 63,982 | 61,730 |
| PROGRESSIVE CORP OH 747 SH | 46,718 | 73,863 |
| POLARIS INC 735 SH | 62,418 | 70,031 |
| RAYONIER INC * 2011 SH | 58,300 | 59,083 |
| SL GREEN REALTY OLDCHG CORP 824 SH | 66,014 | 49,094 |
| SNAP ON INC 468 SH | 73,822 | 80,094 |
| SOUTHERN COMPANY 1119 SH | 59,803 | 68,740 |
| TIFFANY & CO NEW CHG 528 SH | 47,525 | 69,406 |
| TJX COS INC NEW 299.91 SH | 14,618 | 20,481 |
| THERMO FISHER SCIENTIFIC INC 60 SH | 14,442 | 27,947 |
| UNION PACIFIC CORP 122.22 SH | 19,033 | 25,448 |
| U S BANCORP DE NEW 1370 SH | 67,820 | 63,828 |
| VIATRIS INC 208 SH | 3,508 | 3,898 |
| WEYERHAEUSER CO * 2367 SH | 65,816 | 79,366 |
| ABB LIMITED SPONSORED ADR 401 SH | 7,704 | 11,212 |
| ALLIANZ SE ADR 587 SH | 11,531 | 14,470 |
| BANCO SANTANDER S A ADR 4503 SH | 17,573 | 13,734 |
| BP PLC SPON ADR 453 SH | 15,055 | 9,296 |
| CHINA MOBILE LTD SPON ADR 355 SH | 17,144 | 10,132 |
| CK HUTCHISON HOLDINGS LTD UNSPON ADR 2208 SH | 20,469 | 15,368 |
| COMPAGNIE DE ST GOBAIN ADR 1829 SH | 12,937 | 16,717 |
| CONTINENTAL AG SPONSORED ADR 1217 SH | 14,314 | 18,206 |
| DENSO CORP LTD ADR 117 SH | 2,277 | 3,496 |
| E N I SPA SPON ADR 421 SH | 13,215 | 8,673 |
| ENEL SOCIETA PER AZIONI ADR 1648 SH | 8,501 | 16,727 |
| FUJIFILM HOLDINGS CORP ADR 260 SH | 11,832 | 13,767 |
| GLAXOSMITHKLINE PLC SPON ADR 320 SH | 13,198 | 11,776 |
| HONDA MOTOR LTD ADR REPSTG 1 ORD 498 SH | 13,193 | 14,069 |
| ISUZU MOTORS LTD ADR 107 SH | 1,222 | 1,012 |
| KINGFISHER PLC SPON ADR PAR 15 5/7 PENCE 1711 SH | 10,982 | 12,576 |
| KYOCERA CORP ADR 236 SH | 14,705 | 14,549 |
| LLOYDS BANKING GROUP PLC SPONSORED ADR 6219 SH | 17,294 | 12,189 |
| MITSUBISHI ELEC CORP ADR 483 SH | 12,792 | 14,640 |
| NATURGY ENERGY GROUP S A ADR 1116 SH | 4,406 | 5,156 |
| NIPPON TELEGRAPH & TELEPHONE CORP SPON ADR 522 SH | 11,906 | 13,415 |
| NOVARTIS AG SPON ADR 111 SH | 8,811 | 10,482 |
| QBE INSURANCE GROUP LTD SPON ADR 980 SH | 8,102 | 6,390 |
| ROYAL DUTCH SHELL PLC SPONSORED ADR REPSTG B SHARES 388 SH | 17,890 | 13,041 |
| SANOFI SPON ADR 298 SH | 12,518 | 14,480 |
| SINGAPORE TELECOMMUNICATIONS LTD SPONSORED ADR NEW 2006 305 SH | 8,220 | 5,307 |
| SONY GROUP CORP ADR NEW 107 SH | 7,249 | 10,818 |
| SSE PLC SPON ADR 846 SH | 12,185 | 17,191 |
| TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD SPON ADR 177 SH | 4,760 | 19,300 |
| TAKEDA PHARMACEUTICAL CO LTD SPON ADR 895 SH | 16,495 | 16,289 |
| TELIA CO AB UNSPON ADR 1504 SH | 13,561 | 12,318 |
| TESCO PLC OLDCHG SPON ADR 1871 SH | 15,321 | 18,092 |
| TOKIO MARINE HOLDINGS INC SPON ADR 271 SH | 11,745 | 14,293 |
| UNITED OVERSEAS BK LTD SPONS ADR 388 SH | 13,037 | 13,258 |
| WH GROUP LTD SPON ADR 794 SH | 13,564 | 13,244 |
| WPP PLC NEW ADR 164 SH | 11,055 | 8,869 |
| ZURICH INSURANCE GROUP LTD 170 SH | 4,431 | 7,177 |
| JOHNSON CTRLS1.75 091530 26000 SH | 25,959 | 26,469 |
| JPMORGAN CHASE & CO DEP SHS REPSTG 1/10TH PERPTL PFD FF FXD/VAR 25000 SH | 25,628 | 26,313 |
| METLIFE INC SER G PFD NON CUML FXD/VAR 26000 SH | 25,970 | 27,300 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEES | 756 | 756 | 0 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| WIRE TRANSFER FEE | 75 | 75 | 0 |
| Description | Amount |
|---|---|
| DONATED STOCK BASIS ADJUSTMENT | 244,607 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT MANAGEMENT FEES | 97,919 | 97,919 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAX PAID | 2,172 | 2,172 | 0 | |
| EXCISE TAX | 37,500 | 0 | 0 |