| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 3,255 | 1,628 | 1,627 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| BAC CAPITAL TRUST | 235,724 | 263,344 |
| CAPITAL ONE FINANCIAL 5% | 100,000 | 106,360 |
| GENERAL AMERICAN PREF INV 5.95 | 49,587 | 55,000 |
| GENERAL MOTORS | 249,382 | 260,000 |
| GOLDMAN SACHS | 115,394 | 147,375 |
| GOLDMAN SACHS | 104,707 | 117,900 |
| HSBC HOLDINGS PLC 6.2% SERIRES | 150,000 | 150,780 |
| MELLON CAPITAL | 182,973 | 198,500 |
| MMI CAPITAL TR I | 29,495 | 33,602 |
| NATIONWIDE FINL SVCS INC | 105,783 | 119,501 |
| PRUDENTIAL PLC 6.75% PERP SUBO | 100,000 | 114,520 |
| USB CAPITAL | 183,677 | 196,500 |
| USB CAPITAL | 237,182 | 260,362 |
| VALMONT INDUSTRIES | 47,819 | 57,818 |
| WACHOVIA | 100,277 | 101,263 |
| AGNC INVMNT CO 6.125% SER-F | 100,000 | 95,560 |
| AT&T INC 4.75% SER-C | 100,000 | 107,040 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ABBOTT LABORATORIES | 696 | 1,423 |
| ACCENTURE PLC IRELAND CL A | 2,779 | 4,441 |
| AIA GROUP LTD SPON ADR | 2,085 | 4,078 |
| AIR LIQUIDE ADR | 531 | 724 |
| AIR PROD & CHEM INC | 4,448 | 6,830 |
| AIRBUS SE UNSPONSORED ADR | 1,160 | 1,421 |
| ALEXANDRIA REAL ESTATE EQ INC | 1,906 | 2,317 |
| ALTRIA GROUP INC | 5,202 | 3,936 |
| ANALOG DEVICES INC | 8,794 | 13,296 |
| AON PLC SHS CL-A | 706 | 845 |
| APPLE INC | 1,281 | 5,042 |
| ARTHUR J GALLAGHER | 2,962 | 4,825 |
| ASAHI KAISEI CORP ADR | 1,282 | 1,300 |
| ASML HOLDING NV NY REG NEW | 1,323 | 3,414 |
| ASSA ABLOY AB UNSP ADR | 520 | 566 |
| ASTRAZENECA PLC ADS | 1,973 | 2,549 |
| AUTOMATIC DATA PROCESSING INC | 4,411 | 5,286 |
| AVALONBAY COMM INC | 4,654 | 3,850 |
| BANK OF AMERICA CORP | 11,471 | 12,579 |
| BECTON DICKINSON & CO | 5,314 | 5,755 |
| BEIGENE LTD | 482 | 1,034 |
| BLACKROCK INC | 9,690 | 15,152 |
| BOSTON PROPERTIES INC | 1,931 | 1,323 |
| BRISTOL MYERS SQUIBB CO | 12,519 | 13,212 |
| BRITISH AMER TOB SPON ADR | 1,783 | 1,874 |
| CANADIAN NATURAL RESOURCES LTD | 750 | 879 |
| CAPITAL ONE FINANCIAL CORP | 2,788 | 2,965 |
| CARLSBERG AS | 2,013 | 2,956 |
| CHEVRON CORP | 10,635 | 8,276 |
| CHEVRON CORPORATION | 49,705 | 148,041 |
| CHUBB LTD | 5,908 | 6,311 |
| CME GROUP INC | 11,192 | 11,833 |
| CMS ENERGY CP | 4,581 | 4,942 |
| COCA COLA CO | 4,734 | 5,374 |
| COMCAST CORP (NEW) CLASS A | 12,020 | 15,930 |
| CONOCOPHILLIPS | 11,886 | 8,918 |
| CVS HEALTH CORP COM (CVS) | 5,178 | 5,122 |
| DAIICHI SANKYO CO LTD SPON ADR | 637 | 1,039 |
| DAIKIN INDS LTD | 530 | 938 |
| DBS GROUP HOLDINGS LTD SP | 763 | 760 |
| DEERE & CO | 4,690 | 7,802 |
| DEUTSCHE BOERSE AG UNSPON ADR | 387 | 625 |
| DIAGEO PLC | 1,461 | 1,429 |
| DNB ASA SPONSORED ADR | 1,082 | 1,196 |
| DOVER CORP | 8,653 | 11,615 |
| DSV PANALPINA | 700 | 1,344 |
| ELI LILLY & CO | 5,317 | 7,598 |
| ENEL SOCIETA PER AZIONI ADR | 1,909 | 3,146 |
| ENTERGY CORP NEW | 3,481 | 2,796 |
| ESSILOR INTL SA SPONS ADR | 1,695 | 2,100 |
| FIDELITY 500 INDEX FD-AI | 843,273 | 1,129,069 |
| FIDELITY INTL INDX-INST PRM | 20,304 | 22,759 |
| FIDELITY NATL INFORMATION SE | 5,771 | 6,932 |
| FIRST INTERSTATE BANCSYS | 209,802 | 224,439 |
| GALAPAGOS NV | 992 | 693 |
| GENL DYNAMICS CORP | 9,082 | 7,441 |
| GENMAB A S | 871 | 2,074 |
| GIVAUDAN SA | 1,267 | 2,121 |
| GRIFOLS SA ADR | 442 | 443 |
| HARTFORD FIN SERS GRP INC | 5,105 | 4,653 |
| HASBRO INC | 4,999 | 4,771 |
| HDFC BANK LTD | 633 | 795 |
| HERMES INTL SCA | 712 | 1,081 |
| HOME DEPOT INC | 7,620 | 10,360 |
| HONEYWELL INTERNATIONAL INC | 3,974 | 5,743 |
| HONG KONG EXCHANGES & CLEARING | 842 | 1,314 |
| HOYA CORP | 749 | 1,527 |
| HUTCHISON CHINA MEDITECH LTD | 564 | 608 |
| IBERDROLA SA SPON ADR | 1,434 | 2,357 |
| ISHARES MSCI EAFEINTL INDEX | 59,103 | 66,445 |
| JARDINE MATHESON HLDGS LTD | 425 | 562 |
| JOHNSON & JOHNSON | 11,975 | 13,849 |
| JP MORGAN BETABUILDERS - CANADA | 25,618 | 28,145 |
| JP MORGAN BETABUILDERS ASIA | 27,522 | 29,604 |
| JP MORGAN BETABUILDERS EUROPE | 27,325 | 31,370 |
| JP MORGAN BETABUILDERS JAPAN | 72,390 | 85,596 |
| KERING S A ADR NEW | 1,971 | 2,536 |
| KEYENCE CORP | 2,947 | 5,056 |
| KONINKLUKE PHIL EL SP ADR | 813 | 1,029 |
| L OREAL CO ADR | 1,537 | 2,132 |
| LMVH MOET HENNESSY LOUIS VUITT | 715 | 1,123 |
| LONDON STK EXCHANGE GROUP | 1,671 | 3,189 |
| MARSH & MCLENNAN COS INC | 1,785 | 2,106 |
| MC DONALDS CORP | 7,812 | 9,012 |
| MEDTRONIC PLC SHS | 10,519 | 11,948 |
| MERCADOLIBRE INC | 981 | 3,350 |
| MERCK & CO INC NEW COM | 3,990 | 4,826 |
| METLIFE INCORPORATED | 4,803 | 4,601 |
| MICROSOFT CORP | 3,803 | 9,342 |
| MONDELEZ INTL INC COM | 8,156 | 9,121 |
| MURATA MANUFACTURING CO LTD | 445 | 929 |
| NESTLE SPON | 2,083 | 2,592 |
| NEXTERA ENERGY INC | 7,953 | 11,727 |
| NIDEC CORP | 667 | 1,268 |
| NIPPON TELEGRAPH&TELEPHONE | 927 | 977 |
| NORFOLK SOUTHERN CORP | 5,283 | 7,366 |
| NORTHERN TRUST CORP | 2,842 | 2,887 |
| NOVO NORDISK A/S | 2,165 | 3,143 |
| PARKER HANNIFIN CORP | 6,956 | 10,352 |
| PEPSICO INC NC | 6,382 | 7,415 |
| PERNOD RICARD SA | 1,296 | 1,419 |
| PFIZER INC | 3,055 | 3,681 |
| PHILIP MORRIS INTL INC | 11,451 | 11,508 |
| PNC FINL SVCS GP | 12,278 | 13,410 |
| PPG INDUSTRIES INC | 7,177 | 9,230 |
| PROCTER & GAMBLE | 4,901 | 6,679 |
| PROGRESSIVE CORP OHIO | 3,112 | 4,746 |
| PROSUS N V SPONSORED | 480 | 672 |
| PUBLIC SERVICE ENTERPRISE | 2,705 | 2,857 |
| RECKITT BENCKISER PLC | 1,523 | 1,794 |
| RELX PLC SPONSORED | 1,810 | 2,022 |
| REPUBLIC SERVICES INC | 4,066 | 5,008 |
| ROYAL KPN NV SPONS ADR | 1,099 | 1,115 |
| SAFRAN SA | 2,934 | 2,979 |
| SAP AG | 1,659 | 2,086 |
| SHIN ETSU CHEM CO LTD | 1,258 | 2,463 |
| SIX CIRCLES INTERNATIONS | 70,245 | 78,106 |
| SIX CIRCLES US UNCONSTRAINED | 228,133 | 289,519 |
| SMC CORP COMMON | 1,586 | 2,439 |
| SOFTBANK CORP | 942 | 1,430 |
| SPDR TR UNIT SERIES 1 | 305,685 | 604,547 |
| STANLEY BLACK & DECKER INC | 4,519 | 5,178 |
| STARBUCKS CORP WASHINGTON | 3,344 | 4,493 |
| SUZUKI MTR CORP ADR | 703 | 747 |
| T ROWE PRICE GROUP INC | 3,343 | 5,601 |
| TAIWAN SMCNDCTR MFG CO LT | 1,939 | 4,689 |
| TENCENT HLDGS LTD | 1,555 | 2,300 |
| TEXAS INSTRUMENTS | 8,113 | 12,966 |
| TOTAL S A SPON ADR | 867 | 754 |
| TRUIST FINL CORP | 6,067 | 5,752 |
| U S BANCORP COM NEW | 6,552 | 6,057 |
| UNICHARM CORP | 1,233 | 1,793 |
| UNITEDHEALTH GP INC | 8,344 | 11,221 |
| US BANCORP NEW | 12,962 | 93,879 |
| V F CORPORATION | 2,980 | 3,416 |
| VALERO ENERGY CP DELA NEW | 2,508 | 1,867 |
| VENTAS INC | 2,722 | 2,158 |
| VERIZON COMMUNICATIONS | 8,827 | 9,576 |
| VORNADO REALTY TRUST | 1,100 | 597 |
| WALMART INC | 6,223 | 8,217 |
| XCEL ENERGY INC | 5,544 | 6,537 |
| SPDR S&P 500 TRUST ETF | 296,067 | 647,934 |
| INVESCO QQQ TR UNIT SER 1 | 646,569 | 1,625,173 |
| QCR HOLDINGS INC | 49,997 | 162,913 |
| PRINCIPAL FINANCIAL GROUP | 178,088 | 223,989 |
| ALPHABET INC CL C | 5,450 | 8,759 |
| AXALTA COATING SYSTEMS | 6,935 | 12,619 |
| BERKLEY W R CORP | 6,598 | 8,967 |
| BERKSHIRE HATHAWAY CL -B NEW | 6,994 | 9,275 |
| BLACK KNIGHT INC | 6,724 | 10,514 |
| BOOKING HOLDINGS INC | 7,112 | 11,136 |
| BROOKFIELD ASSET MGMT CL A LTD | 7,094 | 10,606 |
| CERNER CORP | 7,328 | 9,418 |
| CHARLES RIVER LABS INTL INC | 4,431 | 10,744 |
| DIAGEO PLC SPON ADR NEW | 6,964 | 9,687 |
| DUN & BRADSTREET HLDGS INC | 8,807 | 8,117 |
| FASTENAL CO | 4,672 | 7,666 |
| IHS MARKIT LTD | 5,157 | 8,085 |
| ILL TOOL WORKS INC | 6,243 | 9,582 |
| LOWES COMPANIES INC | 6,979 | 14,446 |
| MARKEL CORP | 5,820 | 7,233 |
| MASTERCARD INC CL A | 4,804 | 7,496 |
| NXP SEMICONDUCTORS NV | 6,456 | 12,880 |
| ORACLE CORP | 6,501 | 9,639 |
| PEPSICO INC NC | 7,021 | 9,046 |
| RAYTHEON TECHNOLOGIES CORP | 7,729 | 10,083 |
| STARBUCKS CORP WASHINGTON | 6,715 | 11,768 |
| STRYKER CORP | 6,835 | 11,517 |
| THERMO FISHER SCIENTIFIC | 4,619 | 7,918 |
| TJX COS INC NEW | 6,761 | 10,926 |
| ABB LTD | 1,523 | 1,650 |
| AMERICA MOVIL SA DE CV | 347 | 393 |
| AMERICAN EXPRESS | 6,887 | 8,826 |
| AMERISOURCEBERGEN CORP | 4,346 | 4,692 |
| AMGEN | 3,282 | 3,219 |
| ANHEUSER BUSCH | 758 | 1,119 |
| B&M EUROPEAN VALUE RET SA ADR | 468 | 511 |
| BANCO BILBAO VIZ ARG SA ADS | 988 | 993 |
| BEST BUY | 5,572 | 5,688 |
| CHARLES SCHWAB | 4,723 | 6,153 |
| CITIGROUP | 2,924 | 3,021 |
| COMPAIGNE FIN RICHEMONTAG | 953 | 958 |
| EATON CORP | 7,444 | 10,332 |
| ENGIE SPONS ADR | 416 | 505 |
| EOG RESOURCES | 3,181 | 3,142 |
| FLUTTER ENTMT PLC | 371 | 521 |
| INTL BUSINESS MACHINES CORP | 5,476 | 4,909 |
| INDUSTRIA DE DISENO TEXTIL IND | 1,078 | 1,043 |
| NITORI HLDGS | 688 | 741 |
| OTIS WORLDWIDE CORP | 2,048 | 1,891 |
| PROLOGIS INC | 2,368 | 2,491 |
| RAYTHEON TECHNOLOGIES CORP | 9,696 | 9,868 |
| REALTY INCOME CORP | 1,029 | 995 |
| RECRUIT HOLDINGS CO | 456 | 698 |
| RIO TINTO PLC SPON ADR | 365 | 451 |
| SHIONOGI & CO LTD | 1,342 | 1,343 |
| STMICROELECTRONICS NV | 782 | 928 |
| STRAUMANN | 908 | 1,394 |
| SYSCO | 7,494 | 8,688 |
| TERUMO CORP ADR UNSPONS ADR | 966 | 1,184 |
| TJX COS INC NEW | 5,573 | 7,512 |
| TFI INTL INC | 454 | 516 |
| TOKYO ELECTRON LTD UNSPONS ADR | 524 | 562 |
| TRANE TECHNOLOGIES | 2,101 | 3,339 |
| UNILEVER | 375 | 362 |
| MORGAN STANLEY | 6,181 | 10,211 |
| NORTHROP GRUMMAN CP | 4,348 | 4,266 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| CAPITAL INCOME BUILDER | FMV | 490,961 | 534,890 |
| FRANKLIN INCOME FUND CLASS A | FMV | 1,174,649 | 1,164,810 |
| FRANKLIN INVS SECS TR | FMV | 511,116 | 910,288 |
| FRANKLIN UTILITIES FUND | FMV | 514,559 | 740,111 |
| GUGGENHEIM MACRO OPPORT I | FMV | 651,050 | 689,608 |
| INCOME FUND AMERICA | FMV | 517,714 | 584,375 |
| ISHARES 20+ YEAR TREASURY BOND | FMV | 53,444 | 55,994 |
| ISHARES RUSSELL 2000 ETF | FMV | 86,283 | 178,415 |
| JENSEN PORTFOLIO INC | FMV | 225,885 | 304,883 |
| PIMCO INCOME FD-INS | FMV | 21,500 | 20,963 |
| PIMCO INCOME I2 | FMV | 420,963 | 422,772 |
| PIMCO INVESTMENT GRADE CORP | FMV | 31,451 | 35,888 |
| S&P 500 INDEX | FMV | 851,568 | 1,114,910 |
| SIX CIRCLES ULTRA SHORT DURATION FD | FMV | 22,557 | 22,602 |
| VANGUARD SMALL CAP ETF | FMV | 100,014 | 146,010 |
| VANGUARD TOTAL BOND MKT-INDEX | FMV | 272,492 | 282,919 |
| VANGUARD TOTAL INTL BND-ADM | FMV | 94,471 | 104,859 |
| WILSHIRE TARGET FUNDS | FMV | 221,549 | 282,678 |
| BROWN CAP MGMT MUT FDS | FMV | 274,427 | 287,039 |
| VANGUARD INDEX FDS VALUE INDX FD | FMV | 99,172 | 108,758 |
| VANGUARD FUNDS EQUITY INCM FUND | FMV | 99,386 | 107,410 |
| ALPS SMITH TOTAL RET BD | FMV | 440,564 | 437,969 |
| MIRAE EMERG MKTS GRT CONSMR I | FMV | 107,752 | 167,800 |
| BLKRCK HI YLD BND PORT-K | FMV | 68,478 | 81,026 |
| JPM HIGH YIELD FD - USD | FMV | 38,558 | 42,762 |
| SIX CIRCLES GLOBAL BOND | FMV | 211,908 | 212,409 |
| VANGUARD MORTGAGE BACKED SEC | FMV | 37,732 | 37,633 |
| GUGGENHEIM TOTAL RETURN BD | FMV | 778,262 | 792,471 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| OTHER INCOME | 1,147 | 1,147 | 1,147 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| MORGAN STANLEY SERVICES FEE | 19,399 | 19,399 | 0 | |
| JP MORGAN FEES & COMMISSIONS | 11,731 | 11,731 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| 2020 ESTIMATED EXCISE TAX PAID | 9,994 | 0 | 0 |