| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 3,240 | 1,620 | 1,620 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ABB LIMITED SPONSORED ADR | 32,363 | 42,024 |
| ACCENTURE PLC IRELAND SHS CLASS A | 18,519 | 26,121 |
| ACCO BRANDS CORP | 3,762 | 3,710 |
| AIR LIQUIDE ADR | 19,328 | 21,256 |
| AIR PRODUCTS & CHEMICALS INC | 64,113 | 80,053 |
| ALIBABA GROUP HLDG LTD SPONS ADS | 18,207 | 16,058 |
| ALLEGIANT TRAVEL COMPANY | 4,343 | 6,056 |
| ALLEGION PLC | 13,726 | 16,991 |
| ALLSTATE CORPORATION | 32,379 | 33,309 |
| ALPHABET INCORPORATED | 54,604 | 75,364 |
| ALSTOM SA ADR | 21,093 | 23,901 |
| ALTRA INDL MOTION | 10,753 | 18,126 |
| AMAZON.COM | 38,644 | 71,652 |
| AMGEN INC | 49,144 | 50,582 |
| ANSYS INCORPORATED | 9,294 | 15,280 |
| AON PLC SHS CL A | 28,297 | 31,268 |
| APPLE INCORPORATED | 84,318 | 175,151 |
| ARTISAN PARTNERS ASSET MGMT IN | 5,241 | 8,810 |
| ASPEN TECHNOLOGY | 13,648 | 15,370 |
| AUTOHOME INC SP ADR | 16,475 | 19,426 |
| AXOS FINL INCORPORATED | 7,736 | 10,546 |
| AZZ INCORPORATED | 4,664 | 6,262 |
| BANK OZK | 8,142 | 10,319 |
| BARNES GROUP | 6,898 | 7,299 |
| BB SEGURIDADE PARTICIPACOES SA | 17,373 | 11,191 |
| BECTON DICKINSON & COMPANY | 41,750 | 42,537 |
| BEIERSDORF AG ADR | 22,711 | 22,626 |
| BENTLEY SYSTEMS INC | 12,376 | 14,746 |
| BERKLEY W R CORP | 19,504 | 18,797 |
| BEST BUY INCORPORATED | 42,408 | 47,400 |
| BHP GROUP LIMITED SPONSORED ADS | 15,971 | 21,366 |
| BNP PARIBAS SPONSORED | 19,327 | 18,407 |
| BRIGHT HORIZONS FAM SOL | 10,183 | 13,666 |
| BROADCOM INCORPORATED | 52,097 | 78,375 |
| CACTUS INCORPORATED | 3,496 | 5,162 |
| CANADIAN NATL RY COMPANY | 14,082 | 17,467 |
| CARLSBERG AS SPONSORED ADR | 18,841 | 20,840 |
| CDW CORPORATION | 18,360 | 19,505 |
| CHARLES RIV LABS | 12,660 | 24,986 |
| CHEMED CORPORATION NEW | 13,807 | 16,511 |
| CHEVRON CORPORATION | 45,265 | 32,175 |
| CHUBB LIMITED | 32,246 | 33,708 |
| CIMPRESS PLC SHS | 6,765 | 6,317 |
| CISCO SYSTEMS | 54,670 | 52,134 |
| CME GROUP | 66,903 | 61,351 |
| COMCAST CORPORATION NEW CLASS A | 60,247 | 69,535 |
| COMPANHIA DE SANEAMENTO BASICO SPONS ADR | 11,929 | 9,183 |
| CONSTRUCTION PARTNERS INC | 8,576 | 14,439 |
| CONTINENTAL AG SPONS ADS | 7,584 | 10,311 |
| COOPER COMPANIES | 18,533 | 22,526 |
| COPART INCORPORATED | 13,823 | 20,996 |
| DAIWA HOUSE IND LIMITED ADR | 21,253 | 19,409 |
| DBS GROUP HLDGS LIMITED | 16,778 | 17,279 |
| DOCUSIGN INCORPORATED | 7,559 | 26,009 |
| DORMAN PRODUCTS | 3,640 | 3,994 |
| EAGLE BANCORP | 3,825 | 5,369 |
| EATON CORPORATION PLC SHS | 50,205 | 70,282 |
| EBIX INCORPORATED | 4,939 | 6,379 |
| EDGEWELL PERS CARE | 4,075 | 4,288 |
| EDWARDS LIFESCIENCES CORP | 44,550 | 47,257 |
| ELANCO ANIMAL HEALTH | 14,386 | 16,040 |
| ENEL SOCIETA PER AZIONI UNSPONS ADR | 27,001 | 31,988 |
| ENGIE SA SPONS ADR | 38,088 | 38,818 |
| ENN ENERGY HOLDING | 22,773 | 29,236 |
| ENSIGN GROUP | 7,859 | 13,709 |
| EQUIFAX INC | 13,422 | 18,513 |
| EQUINOR ASA SPONSORED ADR | 15,326 | 13,169 |
| ESPERION THERAPEUTICS INC | 2,510 | 2,002 |
| EURONET WORLDWIDE | 13,953 | 15,796 |
| EXPONENT INC | 9,408 | 10,984 |
| FABRINET SHS | 12,198 | 17,147 |
| FAIR ISAAC CORPORATION | 7,180 | 12,265 |
| FB FINL CORPORATION | 7,558 | 7,363 |
| FEDERATED HERMES CORPORATE BOND | 169,382 | 184,264 |
| FEDERATED HERMES HIGH YIELD | 146,742 | 149,968 |
| FEDERATED HERMES INTERNATIONAL BOND | 116,354 | 121,800 |
| FEDERATED HERMES MORTGAGE STRATEGY | 199,268 | 203,181 |
| FERGUSON PLC SPONSRD ADR NEW | 14,191 | 20,742 |
| FLIR SYSTEMS | 15,488 | 12,755 |
| FLOWSERVE CORPORATION | 4,775 | 5,564 |
| FLUGHAFEN ZUERICH AG UNSPONS ADR | 5,573 | 9,904 |
| FLWS/1-800 FLOWERS CLASS A | 6,829 | 7,384 |
| GRUPO FINANCIERO BANORTE | 27,281 | 27,487 |
| HALLIBURTON COMPANY | 12,510 | 11,680 |
| HAMILTON LANE | 4,743 | 6,088 |
| HEALTHEQUITY INC | 4,671 | 4,601 |
| HEICO CORPORATION | 5,364 | 6,907 |
| HELIOS TECHNOLOGIES | 5,522 | 7,461 |
| HENRY JACK & ASSOC | 10,809 | 12,635 |
| HEXAGON AB ADR | 11,743 | 18,169 |
| HITACHI LIMITED | 30,296 | 31,341 |
| HOME DEPOT | 93,061 | 104,920 |
| ICICI BK LIMITED ADR | 20,407 | 25,916 |
| ICON PLC SHS | 4,035 | 5,069 |
| IHS MARKIT LIMITED | 38,548 | 43,837 |
| INDUSTRIA DE DISENO TEXTIL | 7,578 | 8,682 |
| INNOSPEC INCORPORATED | 7,862 | 8,075 |
| INTERACTIVE BROKERS | 8,052 | 10,722 |
| INTERCONTINENTAL EXCHANGE | 41,870 | 52,342 |
| INTRA CELLULAR THERAPIES INC | 3,578 | 5,120 |
| IQVIA HLDGS INCORPORATED | 47,978 | 58,052 |
| JPMORGAN CHASE | 121,481 | 124,020 |
| KADANT INCORPORATED | 12,298 | 19,032 |
| KANSAS CITY SOUTHERN | 40,579 | 57,156 |
| KAO CORPORATION UNSPONSORD ADS | 14,322 | 14,528 |
| KEYSIGHT TECHNOLOGIES INC | 53,697 | 60,365 |
| KNIGHT SWIFT TRANSN HLDGS | 4,997 | 5,269 |
| KNORR BREMSE AG UNSPON ADS | 14,663 | 18,823 |
| LAUDER ESTEE COMPANIES | 54,073 | 76,130 |
| LENNOX INTERNATIONAL | 14,322 | 16,164 |
| LGI HOMES INCORPORATED | 6,236 | 7,727 |
| LIGAND PHARMACEUTICALS | 3,706 | 3,481 |
| LOJAS RENNER SA SPONS ADR | 13,612 | 14,819 |
| LONDON STK EXCHANGE GROUP UNSPON ADR | 13,755 | 15,454 |
| LONZA GROUP AG UNSPONSORED ADR | 9,018 | 16,859 |
| LOVESAC COMPANY | 3,006 | 6,334 |
| MAGNOLIA OIL & GAS CORP | 6,318 | 7,173 |
| MAKITA CORPORATION SPONSORED | 20,025 | 31,197 |
| MANPOWER GROUP INC | 4,228 | 5,140 |
| MARATHON PETE CORPORATION | 43,132 | 27,215 |
| MEDALLIA INC | 3,135 | 4,750 |
| MEDTRONIC PLC SHS | 46,987 | 52,596 |
| MEDTRONIC PLC SHS (IRELAND) | 29,554 | 32,916 |
| MERCK & COMPANY | 53,112 | 52,925 |
| MERCK KGAA SPONS ADR | 16,989 | 19,748 |
| MICROSOFT CORPORATION | 115,683 | 182,162 |
| MINERALS TECHNOLOGIES | 4,540 | 5,218 |
| MOELIS & COMPANY CLASS A | 8,786 | 12,064 |
| MONRO INCORPORATED | 10,812 | 9,487 |
| MOTOROLA SOLUTIONS | 77,080 | 81,119 |
| MR PRICE GROUP LIMITED SPONSORED | 11,734 | 13,930 |
| MSCI INCORPORATED | 15,076 | 30,364 |
| NATIONAL CINEMEDIA | 7,488 | 4,888 |
| NINTENDO LIMITED ADR | 24,760 | 40,090 |
| NORDEA BK ABP SPONSORED ADS | 14,880 | 16,730 |
| NORDSON CORPORATION | 16,240 | 21,100 |
| NOVA MEASURING INSTRUMENTS | 4,562 | 7,837 |
| NOVARTIS A G SPONSORED ADR | 32,250 | 35,128 |
| NXP SEMICONDUCTORS N V | 37,261 | 56,131 |
| OLLIES BARGAIN OUTLET | 4,135 | 4,661 |
| OPEN LENDING CORP | 3,174 | 7,551 |
| PAR TECHNOLOGY | 4,498 | 6,970 |
| PERNOD RICARD SA ADR | 17,198 | 18,495 |
| PING AN INS GROUP COMPANY CHINA | 40,596 | 42,441 |
| PIONEER NAT RES COMPANY | 28,666 | 25,284 |
| POOL CORPORATION | 13,477 | 24,585 |
| PRUDENTIAL PLC ADR | 23,551 | 20,939 |
| P T BK MANDIRI PERSERO | 10,966 | 10,967 |
| P T TELEKOMUNIKASI INDONESIA | 14,405 | 11,125 |
| REGAL BELOIT CORPORATION | 4,084 | 5,649 |
| RELX PLC SPONSORED ADR | 36,727 | 38,272 |
| REPAY HLDGS CORPORATION | 5,313 | 6,840 |
| ROLLINS INCORPORATED | 8,642 | 13,284 |
| ROYAL DSM NV SPON ADR | 16,951 | 24,506 |
| RYANAIR HLDGS PLC SPONSORED ADR | 12,886 | 19,137 |
| RYOHIN KEIKAKU COMPANY LIMITED | 17,266 | 16,372 |
| SAFRAN SPON ADR | 42,481 | 40,114 |
| SALESFORCE | 51,770 | 76,105 |
| SAMPO OYJ ADR | 19,453 | 20,768 |
| SANDS CHINA LIMITED UNSPON ADR | 17,408 | 17,346 |
| SANDVIK AB ADR | 18,350 | 21,300 |
| SANMINA CORPORATION | 4,254 | 5,166 |
| SANOFI SPONSORED ADR | 37,443 | 38,629 |
| SCOTTS MIRACLE GRO | 18,624 | 39,430 |
| SENSIENT TECHNOLOGIES CORP | 2,678 | 3,615 |
| SHIMANO INC UNSPON ADR | 14,224 | 21,019 |
| SHIN ETSU CHEMICAL | 16,714 | 26,253 |
| SITEONE LANDSCAPE SUPPLY | 13,052 | 26,491 |
| SKYLINE CHAMPION CORPORATION | 8,074 | 8,663 |
| SUMITOMO MITSUI FINL GROUP | 23,516 | 20,595 |
| SUNCOR ENERGY INCORPORATED NEW | 28,806 | 15,939 |
| SUZUKI MTR CORPORATION | 17,968 | 19,268 |
| SYNCHRONY FINL | 36,643 | 36,272 |
| TAIWAN SEMICONDUCTOR MFG LIMITED | 29,493 | 63,243 |
| TELENOR ASA SPONSORED ADR | 24,747 | 22,068 |
| TENCENT HLDGS LIMITED UNSPON ADR | 28,058 | 50,480 |
| TERADYNE INCORPORATED | 18,003 | 34,169 |
| TERMINIX GLOBAL HOLDINGS | 6,008 | 6,886 |
| TESCO PLC SPONSORED ADR | 27,165 | 28,524 |
| THOR INDUSTRIES | 13,435 | 19,714 |
| TJX COMPANIES INC | 46,442 | 59,481 |
| TOWER SEMICONDUCTOR LIMITED SHS | 4,106 | 4,882 |
| TRANE TECHNOLOGIES PLC | 47,661 | 71,564 |
| TREEHOUSE FOODS INC | 3,078 | 3,272 |
| TREX COMPANY INC | 2,462 | 4,353 |
| UNILEVER PLC SPON ADR NEW | 25,138 | 25,593 |
| UNION PACIFIC | 65,951 | 79,748 |
| UNITEDHEALTH GROUP INCORPORATED | 45,666 | 64,876 |
| UNUM GROUP | 4,025 | 4,267 |
| UPLAND SOFTWARE | 5,270 | 6,654 |
| VALVOLINE INCORPORATED | 12,472 | 14,463 |
| VERIZON COMMUNICATIONS | 58,645 | 57,516 |
| VESTAS WIND SYSTEMS AS | 13,214 | 35,099 |
| VINCI S A ADR | 19,068 | 17,595 |
| VISA INCORPORATED | 55,804 | 68,244 |
| VIVENDI UNSPON ADR | 24,115 | 27,920 |
| VOLKSWAGEN AG UNSPONSRED ADS | 34,754 | 33,512 |
| WALMART INCORPORATED | 70,118 | 84,184 |
| WEBSTER FINL CORPORATION | 9,576 | 11,549 |
| WOLTERS KLUWER N V SPONSORED | 15,471 | 18,167 |
| XEROX HOLDINGS CORP | 4,253 | 5,682 |
| YETI HOLDINGS INC | 3,952 | 8,559 |
| ZEBRA TECHNOLOGIES | 13,680 | 26,903 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| ARBOR RLTY TR | AT COST | 4,643 | 6,395 |
| AMGEN INC NTS 2.45% DUE 02/21/2030 | AT COST | 9,997 | 10,708 |
| ASTRAZENECA PLC NTS 1.375% DUE 08/06/2030 | AT COST | 17,948 | 17,660 |
| AT&T INC NTS 3.65% DUE 06/01/2051 | AT COST | 16,934 | 17,801 |
| AT&T INC NTS 2.25% DUE 02/01/2032 | AT COST | 6,987 | 7,101 |
| BANK OF AMERICA CORPORATION 1.197% DUE 10/24/2025 | AT COST | 20,009 | 20,266 |
| BLACKROCK INC 1.90% DUE 01/28/2031 | AT COST | 14,213 | 14,654 |
| BP CAPITAL MARKETS AMERICA, INC. 3.5880% DUE 04/14/2027 | AT COST | 12,737 | 13,648 |
| BP CAPITAL MARKETS PLC 3.2790% DUE 09/19/2027 | AT COST | 22,863 | 24,641 |
| CHEVRON CORPORATION 3.0780% DUE 05/11/2050 | AT COST | 3,000 | 3,349 |
| CHEVRON USA INC 1.0180% DUE 08/12/2027 | AT COST | 15,999 | 16,079 |
| CITIGROUP INC. 2.8760% DUE 07/24/2023 | AT COST | 25,252 | 25,970 |
| COMCAST CORPORATION 2.6500% DUE 02/01/2030 | AT COST | 5,991 | 6,564 |
| COMCAST CORPORATION 3.4500% DUE 02/01/2050 | AT COST | 2,993 | 3,540 |
| COMCAST CORPORATION 2.80% DUE 01/15/2051 | AT COST | 9,925 | 10,425 |
| COMCAST CORPORATION 1.50% DUE 02/15/2031 | AT COST | 7,973 | 7,946 |
| CVS HEALTH CORP 5.0500% DUE 03/25/2048 | AT COST | 22,832 | 27,106 |
| EQUINIX INCORPORATED REIT | AT COST | 46,021 | 57,849 |
| EQUINOR ASA NTS 3.125% DUE 04/06/2030 | AT COST | 6,945 | 7,874 |
| EQUINOR ASA NTS 2.375% DUE 05/22/2030 | AT COST | 18,124 | 19,199 |
| EXXON MOBIL CORPORATION 2.4400% DUE 08/16/2029 | AT COST | 7,013 | 7,598 |
| EXXON MOBIL CORPORATION 4.327% DUE 03/19/2050 | AT COST | 25,000 | 32,732 |
| GOLDMAN SACHS GROUP 2.9050% DUE 07/24/2023 | AT COST | 14,140 | 14,541 |
| HUDSON BAY FUND (INTL) | AT COST | 525,000 | 599,125 |
| METLIFE INC 4.550% DUE 03/23/2030 | AT COST | 17,927 | 22,490 |
| MICROSOFT CORPORATION 2.4000% DUE 08/08/2026 | AT COST | 10,140 | 10,909 |
| MICROSOFT CORPORATION 3.3000% DUE 2/06/2027 | AT COST | 11,688 | 12,552 |
| MONMOUTH REAL ESTATE INVT CORPORATION CLASS A | AT COST | 6,026 | 7,517 |
| NATIONAL STORAGE AFFILIATES TR | AT COST | 8,890 | 9,296 |
| ORACLE CORPORATION 2.9500% DUE 04/01/2030 | AT COST | 6,993 | 7,827 |
| PHILIP MORRIS INTL 0.875% DUE 05/01/2026 | AT COST | 21,919 | 22,092 |
| SHELL INTL 2.7500% DUE 04/06/2030 | AT COST | 17,504 | 17,610 |
| UNITED PARCEL SERVICE 4.4500% DUE 04/01/2030 | AT COST | 10,959 | 13,760 |
| US TREASURY NOTES 0.875% DUE 11/15/2030 | AT COST | 30,893 | 30,893 |
| US TREASURY NOTES 1.25% 03/31/2021 | AT COST | 88,652 | 88,232 |
| US TREASURY NOTES 1.5% 09/30/2021 | AT COST | 19,272 | 19,272 |
| US TREASURY NOTES 1.5% 09/30/2021 | AT COST | 112,370 | 112,144 |
| WELLS FARGO & COMPANY 2.3930% DUE 06/02/2028 | AT COST | 16,000 | 17,034 |
| TRUIST FINANCIAL CORP 1.2% DUE 8/5/25 | AT COST | 10,988 | 11,291 |
| CITIGROUP INC. 2.5720% DUE 06/3/2031 | AT COST | 10,000 | 10,659 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEES | 325 | 163 | 162 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| DIVIDENDS REPORTED IN CURRENT YEAR, NOT YET RECEIVED | 1,685 | 1,647 | 1,647 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| MISCELLANEOUS | 361 | 181 | 180 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT FEES | 48,405 | 48,405 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAXES PAID | 4,830 | 4,830 | 0 | |
| TAXES AND LICENSES | 25 | 13 | 12 | |
| EXCISE TAXES | 9,740 | 0 | 0 |