| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| BBH LIMITED DURATION FUND CL I | 410,905 | 414,728 |
| BBH INCOME FUND-I | 230,000 | 234,735 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| BBH LIMITED DURATION FUND | ||
| BBH INCOME FUND I | ||
| ARKE FOCUS FUND-SUPRA INST | ||
| BOOKING HOLDINGS INC COM STK | 22,861 | 26,727 |
| BRIGHT HORIZONS FAMILY SOLUT C | ||
| BROWN-FORMAN CORP CLASS B | 36,075 | 43,051 |
| DOLLAR GENERAL CORP | 22,179 | 29,863 |
| COLLGATE PALMOLIVE CO | 29,128 | 35,230 |
| COSTCO WHOLESALE CORP | 21,632 | 26,751 |
| DIAGEO PLC-SPONSORED ADR | 40,802 | 41,291 |
| NESTLE SA SPONS ADR | 23,236 | 25,798 |
| UNILEVER N V-NY SHARES | ||
| BERKSHIRE HATHAWAY INC | 79,683 | 81,618 |
| ARTHUR J GALLAGHER & CO | 52,702 | 65,690 |
| US BANCORP | ||
| NOVARTIS AG-ADR | ||
| HENRY SCHEIN INC COM STK | 36,897 | 35,703 |
| ZOETIS INC COM STK | 51,768 | 64,214 |
| PERRIGO CO PLC | 12,540 | 10,196 |
| ALCON INC COM STK | 42,275 | 51,662 |
| COPART IC COM STK | 44,772 | 61,716 |
| AO SMITH CORP | 32,564 | 37,716 |
| WASTE MANAGEMENT INC | 22,732 | 24,058 |
| ALLEGION PLC COM STK | 38,554 | 35,380 |
| FLEETCOR TECHNOLOGIES INC | 53,286 | 47,745 |
| KLA CORPORATION COM STK | 21,715 | 32,105 |
| MASTERCARD INCORPORATED | 53,198 | 63,892 |
| ORACLE CORP | 40,650 | 47,677 |
| CALANESE CORP | ||
| LINDE PLC | 51,134 | 62,715 |
| ALPHABET INC | 71,112 | 89,346 |
| COMCAST CORP | 30,607 | 36,994 |
| ALPS SERRIES TRUST CLAKRSTON | ||
| LONGLEAF PATNERS SMALL CAP | ||
| BBH PARTNER FUND INTERNATIONAL | ||
| GQG PART EMERG MKTS WE-INST | 195,000 | 258,935 |
| AKRE FOCUS FUND-SUPRA INST | 505,000 | 585,641 |
| AMAZON.COM INC | 53,725 | 55,368 |
| NIKE INC CL B | 26,001 | 47,251 |
| STARBUCKS CORP | 25,726 | 30,168 |
| PROGRESSIVE CORP OHIO | 28,339 | 37,871 |
| BAXTER INTL INC | 34,798 | 35,466 |
| THERMO FISHER SCIENTIFIC INC | 25,269 | 27,015 |
| GRACO INC COMMON STOCK | 13,522 | 14,181 |
| VISA INC- CL.A SHARES | 24,261 | 27,123 |
| CELANESE CORP COM STK | 33,568 | 38,202 |
| CLARKSTON FOUNDERS FUND-INST | 195,863 | 202,670 |
| CLARKSTON SERIES TRUST CLARKST | 325,000 | 361,799 |
| BBH PARTNER FUND - | 800,000 | 952,046 |
| Description | Amount |
|---|---|
| ROUNDING | 6 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| OTHER NON-ALLOCABLE EXPENSE - | 30 | 30 | 0 | |
| OTHER EXPENSE (NON-DEDUCTIBLE | 10 | 10 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMNT MNGMNT FEES (NON-DED | 15,314 | 15,314 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FEDERAL TAX PAYMENT - PRIOR YE | 398 | 0 | 0 | |
| FEDERAL ESTIMATES - PRINCIPAL | 400 | 0 | 0 | |
| FOREIGN TAXES ON QUALIFIED FOR | 1,262 | 1,262 | 0 | |
| FOREIGN TAXES ON NONQUALIFIED | 413 | 413 | 0 |