| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 45,930 | 18,372 | 0 | 27,558 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| MEZZACAPPA CREDIT SPECTRUM FUND, LLC-2396 SHS | 586 | 586 |
| TWO SIGMA ACTIVE EXTENSION U.S. ALL CAP EQUITY CAYMAN FUND, LTD. CLASS A1 SE | 4,519,940 | 4,519,940 |
| VANGUARD S&P 500 ETF-2194 SHS | 754,056 | 754,056 |
| DOUBLELINE CORE PLUS PORTFOLIO LLC CLASS C-92407.73 SHS | 1,066,035 | 1,066,035 |
| L L MORTGAGE FUND LP-500000 SHS | 549,030 | 549,030 |
| ISHARES MSCI ACWI ETF-4895 SHS | 444,074 | 444,074 |
| ABDIEL QUALIFIED OFFSHORE PARTNERS, LTD. CLASS A SERIES: 2013-11-398.97 SHS | 3,077,794 | 3,077,794 |
| GQG PARTNERS EMERGING MARKETS EQUITY FUND-1200269.921 SHS | 1,881,791 | 1,881,791 |
| ARROWSTREET CAPITAL GLOBAL ALL COUNTRY ALPHA EXTENSION FUND (CAYMAN) LIMITED | 2,980,609 | 2,980,609 |
| BUENA VISTA ASIAN OPPORTUNITIES OFFSHORE FUND, LTD CAM SP2 U/1-MARCH-17-1194 | 1,679,340 | 1,679,340 |
| CONSILIUM FRONTIER EQUITY FUND, LP-1100000 SHS | 1,345,924 | 1,345,924 |
| EAST CAPITAL - EASTERN EUROPE CLASS C SHARES USD CAP-5953.37 SHS | 348,186 | 348,186 |
| INCA LATIN AMERICAN FUND, LP - SERIES A (UNRESTRICTED)-684061.976 SHS | 689,133 | 689,133 |
| INTERNATIONAL RESEARCH EQUITY EXTENDED FUND, L.P. A-F/17424 FOUNDERS-1100218 | 1,438,634 | 1,438,634 |
| KABOUTER INTERNATIONAL OPPORTUNITIES FUND II, LLC-713832.867 SHS | 1,235,367 | 1,235,367 |
| LONDON - CA INTERNATIONAL EQUITY CEF FUND CAMBRIDGE SUB-SERIES-341980.717 SH | 4,716,085 | 4,716,085 |
| MAPLE-BROWN ABBOTT ASIA-EX JAPAN FUND INSTITUTIONAL US DOLLAR - MBAEJU MAIU- | 1,641,444 | 1,641,444 |
| ORBIS INSTITUTIONAL INTERNATIONAL EQUITY L.P., BASE RRF C-28-129198.966 SHS | 1,875,969 | 1,875,969 |
| OVERLOOK PARTNERS FUND, LP-1187571.019 SHS | 1,667,424 | 1,667,424 |
| RYDER COURT GLOBAL EMERGING MARKETS OPPORTUNITIES FUND (DST)-111241.776 SHS | 1,809,574 | 1,809,574 |
| ISHARES MSCI EMERGING MARKET-964 SHS | 49,810 | 49,810 |
| ISHARES CORE MSCI EAFE ETF-5692 SHS | 393,260 | 393,260 |
| CEVIAN CAPITAL II LTD - CLASS A USD-2015 APR-4166.666 SHS | 521,810 | 521,810 |
| CEVIAN CAPITAL II LTD - CLASS BUSD3-2018 APR-4580.375 SHS | 520,437 | 520,437 |
| CEVIAN CAPITAL II LTD - CLASS CUSD3-2018 APR-4580.375 SHS | 515,974 | 515,974 |
| HIMALAYA CAPITAL INVESTORS (OFFSHORE), L.P.-1000000 SHS | 1,320,318 | 1,320,318 |
| TIGER GLOBAL LONG OPPORTUNITIES, LTD. CLASS A SUB-CLASS ONE-10000 SHS | 1,717,178 | 1,717,178 |
| TWO SIGMA CHINA CORE EQUITY CAYMAN FUND, LTD. CLASS A M - SERIES A SERIES A | 778,855 | 778,855 |
| WMQS GLOBAL EQUITY ACTIVE EXTENSION OFFSHORE FUND, LTD. - CLASS F-2 - SERIES | 2,315,423 | 2,315,423 |
| ARIEL GLOBAL FUND-INST-206610.06 SHS | 3,342,951 | 3,342,951 |
| CAUSEWAY EMERGING MARKETS-IS-99847.635 SHS | 1,501,708 | 1,501,708 |
| FRONTEGRA MFG GLOBAL EQ-INS-150963.47 SHS | 3,126,453 | 3,126,453 |
| MFS INSTL INTL EQUITY FUND-66270.212 SHS | 2,030,519 | 2,030,519 |
| T ROWE PR AFR & MID EAST-I-76434.645 SHS | 622,178 | 622,178 |
| SANDS CAP GLOBAL GROWTH-INS-44295.198 SHS | 1,734,157 | 1,734,157 |
| DFA EMERGING MRKTS VALUE-57816.015 SHS | 1,656,429 | 1,656,429 |
| DODGE & COX INTL STOCK FUND-45764.819 SHS | 1,999,923 | 1,999,923 |
| MATTHEWS PACIFIC TIGER-INST-51295.253 SHS | 1,790,204 | 1,790,204 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| RENAISSANCE INSTITUTIONAL EQUITIES FUND LLC - SERIES BB-1000000 SHS | FMV | 1,226,894 | 1,226,894 |
| ALPHADYNE INTERNATIONAL FUND, LTD. CLASS 5 A USD SERIES 1-934.474 SHS | FMV | 1,434,897 | 1,434,897 |
| ALUA OFFSHORE FUND LTD.-1300 SHS | FMV | 1,357,993 | 1,357,993 |
| THE CHILDREN'S INVESTMENT FUND CLASS H1 USD NEW ISSUES 14-122986-000060-1000 | FMV | 1,388,000 | 1,388,000 |
| DAVIDSON KEMPNER INTERNATIONAL (BVI) LTD - CLASS C TRANCHE 3 - 01JAN20-10461 | FMV | 1,407,548 | 1,407,548 |
| EMSO SAGUARO LTD - CLASS A - FEE GROUP 5 - SERIES 02-19-100 SHS | FMV | 1,093,079 | 1,093,079 |
| ETON PARK OVERSEAS FUND, LTD. A1 1112-0.166 SHS | FMV | 368 | 368 |
| ETON PARK OVERSEAS FUND, LTD. A1 1510-0.06 SHS | FMV | 92 | 92 |
| P/E GLOBAL LLC - GLOBAL STRATEGY LLC-743.995 SHS | FMV | 1,087,634 | 1,087,634 |
| HG VORA SPECIAL OPPORTUNITIES FUND, LTD. CLASS A, SUB CLASS 1-ILG-INITIAL-31 | FMV | 1,243,751 | 1,243,751 |
| HOLLIS PARK OPPORTUNITIES FUND LTD. CLASS A SUB-CLASS 1-2761.33 SHS | FMV | 3,002,639 | 3,002,639 |
| HUDSON BAY INTERNATIONAL FUND LTD. A-UR414-1-1000 SHS | FMV | 1,240,726 | 1,240,726 |
| KYLIN OFFSHORE FUND LTD SIDE POCKET CLASS S3 SERIES 1-171.96 SHS | FMV | 30,759 | 30,759 |
| KYLIN OFFSHORE FUND LTD SIDE POCKET CLASS S4 SERIES 1-81.892 SHS | FMV | 10,708 | 10,708 |
| KYLIN OFFSHORE FUND LTD SIDE POCKET CLASS S5 SERIES 1-162.676 SHS | FMV | 652 | 652 |
| LAURION CAPITAL LTD. CLASS A INITIAL-184.895 SHS | FMV | 1,141,718 | 1,141,718 |
| LAURION CAPITAL LTD. CLASS A 20-04-0.276 SHS | FMV | 316 | 316 |
| LAURION CAPITAL LTD. CLASS A 20-07-0.073 SHS | FMV | 78 | 78 |
| MAN FRM CA SPC - GM-1 SP - CLASS A SHARES-1013.094 SHS | FMV | 1,056,923 | 1,056,923 |
| NAYA FUND CLASS C SERIES 1 JAN 2013 UNRESTRICTED CA-8027.112 SHS | FMV | 1,743,657 | 1,743,657 |
| NITORUM OFFSHORE FUND, LTD. CLASS A ELIGIBLE SERIES 1-786.72 SHS | FMV | 1,147,630 | 1,147,630 |
| PALESTRA CAPITAL OFFSHORE FUND, LTD. CLASS A SUB-CLASS 3 SERIES INITIAL-612. | FMV | 1,344,633 | 1,344,633 |
| ROSE GROVE OFFSHORE FUND I, LTD CLASS A NEW ISSUE SERIES 0109-509.003 SHS | FMV | 1,125,874 | 1,125,874 |
| ROYSTONE CAPITAL OFFSHORE FUND LTD. CLASS A - CAM - LA/MAR - 18-6.783 SHS | FMV | 8,330 | 8,330 |
| ROYSTONE CAPITAL OFFSHORE FUND LTD. CLASS A - CAM - LA/AUG - 13-7.687 SHS | FMV | 12,418 | 12,418 |
| SCULPTOR OVERSEAS FUND II, LTD.-39.515 SHS | FMV | 31,784 | 31,784 |
| SOUTHPOINT QUALIFIED OFFSHORE FUND, LTD. NON-RESTRICTED NEW ISSUE SHARES INI | FMV | 798,771 | 798,771 |
| VALINOR CAPITAL PARTNERS OFFSHORE, LTD. LV-CK-1B\I000044288-30.959 SHS | FMV | 47,968 | 47,968 |
| VARADERO INTERNATIONAL, LTD. CLASS A-1 - SERIES 0318-1000 SHS | FMV | 1,085,769 | 1,085,769 |
| VARADERO INTERNATIONAL, LTD. CLASS A-1 - SERIES 0717-250 SHS | FMV | 286,052 | 286,052 |
| VARADERO INTERNATIONAL, LTD. CLASS A-1 - SERIES INITIAL-621.062 SHS | FMV | 1,608,240 | 1,608,240 |
| VOLORIDGE FUND, LTD. - CLASS B - SERIES 07/2020-1000 SHS | FMV | 1,060,569 | 1,060,569 |
| YIHENG CAPITAL OFFSHORE PARTNERS, LTD. CLASS A (1.0-20) N~1-1000 SHS | FMV | 1,329,778 | 1,329,778 |
| ARCM DISTRESSED ENERGY OPPORTUNITIES FEEDER FUND LTD - SERIES A, UNRESTRICTE | FMV | 90,365 | 90,365 |
| ASF VI L.P.-1 SHS | FMV | 200,773 | 200,773 |
| ASF VII L.P.-426663 SHS | FMV | 574,894 | 574,894 |
| BLUE DELTA CAPITAL FUND II, LP-218173 SHS | FMV | 206,510 | 206,510 |
| CARMEL PARTNERS INVESTMENT FUND V, L.P.-679478 SHS | FMV | 1,095,340 | 1,095,340 |
| GREENSPRING GLOBAL PARTNERS VI, L.P.-1840123.5 SHS | FMV | 5,862,215 | 5,862,215 |
| GREENSPRING GLOBAL PARTNERS VII-B, L.P.-1440000 SHS | FMV | 2,102,812 | 2,102,812 |
| HOSEN PRIVATE EQUITY III, L.P.-206035.58 SHS | FMV | 194,757 | 194,757 |
| HULL STREET ENERGY PARTNERS I-A, LP - LIMITED PARTNERS-470420 SHS | FMV | 492,921 | 492,921 |
| KHP STRATEGIC 9 LP-72585 SHS | FMV | 362,654 | 362,654 |
| KLINE HILL PARTNERS FUND LP-486611 SHS | FMV | 898,963 | 898,963 |
| KLINE HILL PARTNERS OFFSHORE FUND II LP-872195 SHS | FMV | 1,175,496 | 1,175,496 |
| KLINE HILL PARTNERS OFFSHORE FUND III LP-124114 SHS | FMV | 204,718 | 204,718 |
| KLINE HILL PARTNERS OPPORTUNITY OFFSHORE FUND III LP-33857 SHS | FMV | 59,247 | 59,247 |
| LIME ROCK PARTNERS IV AF, L.P.-398077 SHS | FMV | 302,542 | 302,542 |
| PAG CA PARTNERS LP-558637.18 SHS | FMV | 967,859 | 967,859 |
| PELICAN ENERGY PARTNERS II LP-815541 SHS | FMV | 639,519 | 639,519 |
| PELICAN ENERGY PARTNERS III LP-412010 SHS | FMV | 264,447 | 264,447 |
| POMONA CAPITAL VIII, L.P.-1 SHS | FMV | 140,130 | 140,130 |
| RRG GLOBAL PARTNERS FUND-604857.52 SHS | FMV | 684,613 | 684,613 |
| SIRIS PARTNERS IV, L.P.-445337 SHS | FMV | 428,973 | 428,973 |
| SUSTAINABLE ASSET FUND II, LP-495658.85 SHS | FMV | 478,069 | 478,069 |
| TELEGRAPH HILL PARTNERS IV, L.P.-322500 SHS | FMV | 422,895 | 422,895 |
| VOLITION CAPITAL FUND III, L.P.-655500 SHS | FMV | 889,402 | 889,402 |
| VOLITION CAPITAL FUND IV, L.P.-106920 SHS | FMV | 103,158 | 103,158 |
| VOLITION CAPITAL SELECT FUND I, L.P.-46860 SHS | FMV | 46,509 | 46,509 |
| W CAPITAL PARTNERS IV-A, L.P.-375080 SHS | FMV | 373,288 | 373,288 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEES | 22,071 | 0 | 0 | 22,071 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| SUPPLIES | 13,691 | 1,813 | 0 | 0 |
| TELEPHONE AND IT | 29,197 | 2,132 | 0 | 0 |
| RENTAL EQUIPMENT | 11,923 | 549 | 0 | 0 |
| BOARD EXPENSES | 104,326 | 9,324 | 0 | 0 |
| DUES AND SUBSCRIPTIONS | 3,828 | 0 | 0 | 0 |
| INSURANCE | 19,390 | 1,125 | 0 | 2,050 |
| PROGRAM INITIATIVES | 617,666 | 0 | 0 | 380,733 |
| OTHER CONTRIBUTIONS | 6,928 | 0 | 0 | 0 |
| POSTAGE | 3,192 | 0 | 0 | 0 |
| OTHER | 48,101 | 0 | 0 | -392 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| PARTNERSHIP INVESTMENT UNRELATED BUSINESS INCOME | 4,309 | 4,309 | 0 |
| SHAREHOLDER SETTLEMENT INCOME | 667 | 667 | 0 |
| Description | Amount |
|---|---|
| UNREALIZED GAINS | 9,082,387 |
| CUMULATIVE ADJUSTMENT PER ASU 2018-08 | 2,918,053 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| DEFERRED EXCISE TAX LIABILITY | 384,000 | 393,000 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| PROFESSIONAL FEES | 160,218 | 5,519 | 0 | 154,699 |
| INVESTMENT FEES | 336,712 | 336,712 | 0 | 0 |
| EXPENSES ALLOCATED TO FORM 990-T | 0 | -36,405 | 0 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| EXCISE TAX | 80,058 | 0 | 0 | 0 |