| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ALPHABET INC | 3,001 | 2,998 |
| AMAZON | 6,053 | 6,088 |
| AMERICAN EXPRESS CO NTS | 3,006 | 3,249 |
| AMERICAN EXPRESS CRD | 2,009 | 2,051 |
| ANHEUSER BUSCH INBEV | 3,096 | 3,855 |
| APPLE INC | 3,007 | 3,275 |
| EXXON MOBIL | 4,085 | 4,114 |
| FISERV INC NTS | 3,039 | 3,361 |
| JP MORGAN | 5,358 | 5,374 |
| MORGAN STANLEY NTS | 7,149 | 8,029 |
| ORACLE CORP NTS | 4,079 | 4,378 |
| TORONTO-DOMINION BANK | 3,003 | 3,247 |
| VERIZON COMMUNICATIONS | 2,426 | 2,408 |
| VERIZON COMMUNICATIONS | 3,055 | 3,029 |
| VISA | 5,553 | 5,609 |
| WALMART | 3,988 | 4,338 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ADIDAS AG SPON ADR | 3,378 | 5,307 |
| ADYEN N V ADR | 6,291 | 14,245 |
| AIA GROUP LTD | 11,122 | 15,820 |
| AIR ADR | 2,130 | 3,223 |
| AIR PROD & CHEMICAL INC | 8,659 | 10,109 |
| ALCON INC CHF | 4,485 | 4,685 |
| ALIBABA GROUP ADR | 18,037 | 14,895 |
| ALLIANZ SE | 6,852 | 7,863 |
| ALFA LAVAL | 2,908 | 3,526 |
| ALPHABET INC CL C | 9,947 | 17,519 |
| ALTRIA GROUP INC | 13,356 | 10,168 |
| AMBEV SA SPON ADR | 4,317 | 3,846 |
| AMPHENOL CORPORATION | 2,286 | 5,231 |
| APPLE INC | 5,766 | 23,353 |
| ARCH CAPITAL GROUP | 6,202 | 8,224 |
| ARISTA NETWORKS INC | 4,658 | 6,102 |
| ARMSTRONG WORLD | 3,025 | 3,273 |
| ATLAS COPCO | 5,375 | 10,318 |
| BANCO BILBAO | 7,415 | 5,073 |
| BERKLEY W R | 1,944 | 4,251 |
| BERKSHIRE HATHAWAY | 12,789 | 20,868 |
| BLACKROCK INC | 6,512 | 12,266 |
| BRILLIANCE CHINA | 821 | 788 |
| BRISTOL MYERS SQUIBB CO | 5,967 | 5,397 |
| BROOKFIELD ASSET MGMT INC | 2,378 | 4,705 |
| BROWN & BROWN INC | 2,502 | 6,637 |
| BROWN FORMAN | 1,204 | 2,383 |
| CARLISLE COS INC | 5,344 | 6,560 |
| CARMAX INC | 9,850 | 16,342 |
| CDN NATL | 2,262 | 3,076 |
| CDW | 1,953 | 5,140 |
| CHECK POINT SOFTWARE | 6,371 | 7,975 |
| CHINA GAS LTD | 1,981 | 2,759 |
| CHUGAI PHARMACEUTICAL LTD ADR | 2,842 | 7,235 |
| CISCO SYSTEM INC | 5,502 | 7,563 |
| CITRIX SYSTEMS | 7,676 | 8,717 |
| CLARIVATE | 2,883 | 2,852 |
| CNOOC LTD | 1,669 | 1,558 |
| COPART INC | 1,227 | 6,744 |
| COSAN LTD | 1,800 | 2,322 |
| CREDICORP LTD | 1,589 | 2,132 |
| DASSAULT | 7,161 | 10,184 |
| DBS GROUP | 6,936 | 8,366 |
| DIAGEO PLC | 4,323 | 4,447 |
| DOLLAR TREE INC | 13,013 | 15,882 |
| EPAM SYSTEMS | 4,805 | 5,017 |
| EPIROC AKTIEBOLAG ADR | 2,559 | 4,909 |
| EXPEDITORS INTL | 1,829 | 3,519 |
| FANUC | 2,487 | 3,062 |
| FASTENAL CO | 1,508 | 3,223 |
| FEDEX CORP | 9,477 | 13,241 |
| FOMENTO ECONOMICO MEXICANO | 5,389 | 4,849 |
| FOX CORP CL A | 8,116 | 6,261 |
| FUCHS PETROL | 1,833 | 2,021 |
| GARTNER INC | 5,683 | 7,849 |
| GLACIER BANCORP | 2,124 | 3,267 |
| HDFC | 4,560 | 6,503 |
| HOME DEPOT INC | 7,510 | 11,422 |
| ICICI BANK LTD SPON ADR | 4,426 | 6,806 |
| IHS MARKIT LTD | 3,572 | 8,354 |
| INDUSTRIAL & COML BK CHINA | 2,125 | 2,498 |
| INFINEON TECH | 6,564 | 15,112 |
| ITAU | 5,636 | 5,365 |
| JD COM INC | 2,992 | 3,252 |
| JOHNSON & JOHNSON | 9,133 | 9,443 |
| KEMPER CORP | 3,522 | 3,304 |
| KOMATSU LTD SPON ADR | 3,390 | 4,512 |
| KUBOTA CORP | 4,650 | 6,069 |
| LABORATORY CORP | 3,395 | 6,310 |
| LIBERTY BROADBAND CORP | 5,247 | 11,403 |
| LINDE PLC | 2,962 | 5,007 |
| LONZA GROUP | 3,573 | 8,523 |
| LOREAL CO | 5,569 | 10,052 |
| LOWES CORP | 3,109 | 5,939 |
| LUKOIL PJSC SPON ADR | 5,810 | 5,059 |
| MARKEL CORP | 5,144 | 6,200 |
| MARTIN MARIETTA MATERIALS INC | 7,379 | 10,507 |
| MOELIS & CO | 3,049 | 4,255 |
| NESTLE S A | 13,464 | 18,848 |
| NEWMARKET CORP | 13,770 | 13,542 |
| NITORI HLDGS | 2,220 | 3,410 |
| NOVOZYMES | 2,405 | 2,739 |
| NORFOLK STHN CORP | 5,933 | 12,118 |
| O' REILLY AUTOMOTIVE INC | 6,346 | 10,409 |
| P.T TELEKOMUNIKASI | 978 | 1,247 |
| PFIZER, INC. | 7,666 | 6,736 |
| PING INSURANCE GROUP | 8,560 | 9,972 |
| PROGRESSIVE CORP OHIO | 11,040 | 17,106 |
| PROSUS N V SPON | 4,115 | 4,577 |
| PT BK RAKYAT | 1,875 | 2,486 |
| RIO TINTO PLC SPON ADR | 4,543 | 6,544 |
| ROCHE HLDG | 6,776 | 9,075 |
| ROSS STORES | 3,615 | 5,895 |
| ROYAL DUTCH SHELL | 4,928 | 3,529 |
| SAP SE SPON | 8,943 | 10,953 |
| SBERBANK SPON | 1,578 | 2,161 |
| SCHNEIDER ELEC SE | 5,233 | 7,730 |
| SCHWAB CHARLES CORP NEW | 10,900 | 13,525 |
| SGS SA ADR | 2,433 | 2,940 |
| SHIONOGI & CO | 3,163 | 2,836 |
| SONOVA HLDG | 2,920 | 4,728 |
| SOUTHERN COPPER | 1,872 | 2,540 |
| STORE CAP CORP | 8,445 | 13,422 |
| SUNNY OPTICAL | 2,392 | 2,601 |
| SYMRISE AG | 3,081 | 5,688 |
| SYSMEX CORP | 2,969 | 6,135 |
| TAIWAN SEMICONDUCTOR | 19,797 | 33,039 |
| TENCENT HOLDINGS | 19,280 | 21,855 |
| TEXAS INSTR | 8,899 | 12,802 |
| TURKCELL | 719 | 760 |
| UNICHARM | 5,034 | 7,269 |
| UNILEVER PLC | 4,461 | 5,070 |
| VERIZON COMMUNICATIONS INC | 8,764 | 9,576 |
| VISA INC CLS A | 6,619 | 13,999 |
| VONTIER | 4,940 | 5,812 |
| YANDEX N V CL | 1,617 | 2,992 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| BLACKROCK BOND BRACX | AT COST | 56,243 | 60,235 |
| BLACKROCK BOND BRAMX | AT COST | 68,491 | 69,969 |
| CALAMOS MARKET NEUTRAL | AT COST | 154,050 | 169,120 |
| FHLMC PL G08737 | AT COST | 6,516 | 6,940 |
| ISHARES RUSSELL 2000 ETF | AT COST | 35,826 | 63,720 |
| ISHARES RUSSELL 3000 ETF | AT COST | 63,085 | 170,569 |
| ISHARES TRUST CORE S&P 500 ETF | AT COST | 76,534 | 195,578 |
| MARTIN CURRIE | AT COST | 61,146 | 76,308 |
| PIMCO TOTAL RETURN FUND | AT COST | 247,723 | 252,245 |
| Description | Amount |
|---|---|
| BASIS ADJUSTMENT | 85 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| MGMT FEE | 17,303 | 17,303 | 0 | |
| OTHER FEES | 226 | 226 | 0 | |
| FILING FEES | 10 | 0 | 10 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAX WITHELD | 1,042 | 1,042 | 0 | |
| FEDERAL EXCISE TAX | 3,300 | 0 | 0 |