| Person Name | Explanation |
|---|---|
| WELLS FARGO BANK NA | TRUST MGMT FEE SEE ATTACHED FOOTNOTE |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 922031836 VANGUARD SHORT TERM- | 795,023 | 816,658 |
| 256210105 DODGE & COX INCOME F | 3,392,122 | 3,448,560 |
| 74256W485 PRINCIPAL PREFERRED | 775,000 | 800,473 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 001317205 AIA GROUP LTD-SP ADR | 10,808 | 38,781 |
| 003021714 ABERDEEN EMERG MARKE | 291,464 | 520,069 |
| 0075W0759 EDGEWOOD GROWTH INST | 557,443 | 1,982,299 |
| 009126202 AIR LIQUIDE - ADR | 5,541 | 10,356 |
| 049255706 ATLAS COPCO AB ADR | 11,638 | 40,339 |
| 05946K101 BANCO BILBAO VIZCAYA | 24,196 | 19,398 |
| 136375102 CANADIAN NATL RR CO | 3,276 | 11,018 |
| 23304Y100 DBS GROUP HOLDINGS L | 14,909 | 30,942 |
| 237545108 DASSAULT SYSTEMES S. | 12,634 | 35,171 |
| 307305102 FANUC CORPORATION AD | 2,904 | 9,739 |
| 45104G104 ICICI BANK LTD. - AD | 7,124 | 15,902 |
| 465562106 ITAU UNIBANCO H-SPON | 19,060 | 14,577 |
| 502117203 L'OREAL - ADR | 10,443 | 31,729 |
| 641069406 NESTLE S.A. REGISTER | 9,733 | 22,079 |
| 771195104 ROCHE HOLDINGS LTD - | 15,393 | 27,297 |
| 803054204 SAP SE ADR | 17,657 | 36,469 |
| 803866300 SASOL LIMITED - ADR | ||
| 806857108 SCHLUMBERGER LTD | ||
| 83569C102 SONOVA HOLDIN-UNSPON | 4,866 | 14,995 |
| 87184P109 SYSMEX CORP-UNSPON A | 2,981 | 17,169 |
| 874039100 TAIWAN SEMICONDUCTOR | 2,444 | 40,688 |
| 904767704 UNILEVER PLC - ADR | 49,700 | 52,759 |
| 056752108 BAIDU INC ADR | ||
| 35952Q106 FUCHS PETROLUB SE-PR | 5,172 | 5,731 |
| 74925K581 BOSTON P LNG/SHRT RE | ||
| 256219106 DODGE & COX STOCK FU | ||
| 464287705 ISHARES S&P MID-CAP | 597,503 | 954,676 |
| 87155N109 SYMRISE AG ADR | 6,890 | 15,539 |
| 922908553 VANGUARD REAL ESTATE | ||
| 00770G847 JOHCM INTERNATIONAL | 627,572 | 1,028,022 |
| 015393101 ALFA LAVAL AB-UNSPON | 6,595 | 13,197 |
| 780259107 ROYAL DUTCH SHELL PL | 14,271 | 13,111 |
| 879360105 TELEDYNE TECHNOLOGIE | 13,040 | 35,988 |
| 112740303 BROOKFIELD GL LISTED | ||
| 501173207 KUBOTA LIMITED - ADR | 12,733 | 19,307 |
| 74925K367 ABBEY CAP FUTURES ST | 767,618 | 824,366 |
| M22465104 CHECK POINT SOFTWARE | 18,233 | 24,297 |
| 256206103 DODGE & COX INT'L ST | 899,849 | 985,269 |
| 40415F101 HDFC BANK LTD. - ADR | 7,520 | 13,285 |
| 45662N103 INFINEON TECHNOLOGIE | 16,851 | 46,934 |
| 670108109 NOVOZYMES A/S UNSPON | 7,620 | 9,434 |
| 00687A107 ADIDAS-AG ADR | ||
| 02319V103 AMBEV SA-SPN ADR | 15,348 | 11,445 |
| 16941M109 DPS CHINA MOBILE LIM | ||
| 171269103 CHUGAI PHARMACEUTIC- | 8,823 | 17,047 |
| 25243Q205 DIAGEO PLC - ADR | 14,822 | 15,764 |
| 29429L105 EPIROC AB-UNSP ADR | 7,961 | 19,612 |
| 344419106 FOMENTO ECONOMICO ME | 18,072 | 15,895 |
| 500458401 KOMATSU LIMITED - AD | 10,747 | 17,145 |
| 54338V101 LONZA GROUP AG ADR | 11,360 | 23,891 |
| 69343P105 LUKOIL PJSC-SPON ADR | 18,374 | 17,935 |
| 72341E304 PING AN INSURANCE-AD | 13,650 | 15,825 |
| 88032Q109 TENCENT HOLDINGS LTD | 16,024 | 28,409 |
| 90460M204 UNI CHARM CORPORATIO | 16,244 | 20,839 |
| G5494J103 LINDE PLC | 6,074 | 10,925 |
| N97284108 YANDEX NV-A | 3,881 | 8,904 |
| 00143W859 INV OPP DEVELOP MRKT | 307,881 | 474,648 |
| 00783V104 ADYEN NV-UNSPON ADR | 18,204 | 44,059 |
| 018820100 ALLIANZ SE - UNSP AD | 10,233 | 28,189 |
| 02263T104 AMADEUS IT GROUP, S. | ||
| 038336103 APTARGROUP INC COM | 5,691 | 7,084 |
| 04316A108 ARTISAN PARTNERS ASS | 5,927 | 11,530 |
| 045327103 ASPEN TECHNOLOGY INC | 18,054 | 22,515 |
| 049904105 ATRION CORP | 9,646 | 7,054 |
| 05278C107 AUTOHOME INC-ADR | 22,555 | 20,613 |
| 12514G108 CDW CORP/DE | ||
| 257651109 DONALDSON CO INC | 6,632 | 7,444 |
| 262037104 DRIL-QUIP INC COM | 8,657 | 7,012 |
| 303075105 FACTSET RESH SYS INC | 12,676 | 14,195 |
| 32051X108 FIRST HAWAIIAN INC | 23,710 | 25,700 |
| 384109104 GRACO INC | 15,862 | 22,489 |
| 426281101 HENRY JACK & ASSOC I | 7,572 | 8,648 |
| 464285105 ISHARES GOLD TRUST E | 568,154 | 558,255 |
| 562750109 MANHATTAN ASSOCIATES | 9,314 | 19,133 |
| 57060D108 MARKETAXESS HLDGS IN | ||
| 60786M105 MOELIS & CO | 9,866 | 15,915 |
| 65479L108 NITORI HLDGS CO LTD- | 7,255 | 10,440 |
| 679580100 OLD DOMINION FREIGHT | ||
| 73278L105 POOL CORPORATION | ||
| 741511109 PRICESMART INC | 7,187 | 11,997 |
| 74164M108 PRIMERICA INC | 20,838 | 24,390 |
| 749607107 RLI CORP COM | 9,358 | 12,607 |
| 75524B104 RBC BEARINGS INC | 9,122 | 13,184 |
| 76657Y101 RIGHTMOVE PLC-UNSP A | 18,724 | 21,028 |
| 767204100 RIO TINTO PLC - ADR | 15,120 | 22,751 |
| 779556406 T ROWE PR MID CAP GR | 573,726 | 1,211,281 |
| 80687P106 SCHNEIDER ELECTRIC S | 16,891 | 27,408 |
| 818800104 SGS SA ADR | 7,945 | 9,022 |
| 824667109 SHIONOGI & CO LTD-UN | 8,997 | 7,952 |
| 829073105 SIMPSON MFG INC COM | 16,151 | 22,717 |
| 891092108 TORO CO | 15,041 | 21,453 |
| 92927K102 WABCO HOLDINGS INC | ||
| 001055102 AFLAC INC | 20,660 | 28,507 |
| 005098108 ACUSHNET HOLDINGS CO | 11,242 | 18,185 |
| 01609W102 ALIBABA GROUP HOLDIN | 16,599 | 17,005 |
| 02209S103 ALTRIA GROUP INC | 32,536 | 39,342 |
| 03073E105 AMERISOURCEBERGEN CO | 51,116 | 57,854 |
| 031162100 AMGEN INC | 57,791 | 57,724 |
| 053015103 AUTOMATIC DATA PROCE | 31,860 | 43,537 |
| 088606108 BHP GROUP LTD-SPON A | 34,986 | 30,948 |
| 126650100 CVS HEALTH CORPORATI | 50,376 | 58,755 |
| 166764100 CHEVRON CORP | 35,985 | 40,973 |
| 191216100 COCA COLA CO | 49,920 | 52,868 |
| 205887102 CONAGRA BRANDS INC | 46,068 | 47,301 |
| 256677105 DOLLAR GENERAL CORP | 51,984 | 55,721 |
| 29084Q100 EMCOR GROUP INC COM | 15,370 | 25,348 |
| 302941109 FTI CONSULTING INC C | 22,244 | 30,264 |
| 37940X102 GLOBAL PMTS INC W/I | 55,360 | 64,506 |
| 384802104 GRAINGER W W INC | 48,681 | 56,130 |
| 478160104 JOHNSON & JOHNSON | 55,532 | 61,467 |
| 501044101 KROGER CO | 36,824 | 37,861 |
| 548661107 LOWES COS INC | 57,421 | 73,409 |
| 571748102 MARSH & MCLENNAN COS | 50,859 | 54,079 |
| 58933Y105 MERCK & CO INC NEW | 41,450 | 41,243 |
| 595017104 MICROCHIP TECHNOLOGY | 31,318 | 47,963 |
| 718172109 PHILIP MORRIS INTERN | 35,918 | 41,264 |
| 778296103 ROSS STORES INC | 50,967 | 69,908 |
| 832696405 JM SMUCKER CO | 28,624 | 33,277 |
| 854502101 STANLEY BLACK & DECK | 25,633 | 33,744 |
| 857477103 STATE STREET CORP | 43,051 | 57,379 |
| 871829107 SYSCO CORP | 28,138 | 40,394 |
| 883556102 THERMO FISHER SCIENT | 34,882 | 34,229 |
| 902973304 US BANCORP | 47,082 | 67,368 |
| 91324P102 UNITEDHEALTH GROUP I | 53,682 | 66,228 |
| 942749102 WATTS WATER TECHNOLO | 13,417 | 16,396 |
| G5960L103 MEDTRONIC PLC | 44,456 | 48,197 |
| H01301128 ALCON INC | 13,577 | 15,019 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| BALLARD SPAHR - LEGAL SVCS | 46,593 | 46,593 |
| Description | Amount |
|---|---|
| MUTUAL FUND TAX EFFECTIVE DATE AFTER TYE | 3,917 |
| CAP GAINS POSTED NEXT YEAR EFF CURR YEAR | 6,709 |
| ROC ADJUSTMENT | 742 |
| CAP LOSS POSTING CURR YR EFF PRIOR YR | 113,504 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| MARSH USA - OFFICER LIABILITY | 617 | 0 | 617 | |
| ADR FEES | 642 | 642 | 0 |
| Description | Amount |
|---|---|
| MUTUAL FUND TAX EFFECTIVE DATE BEFORE TYE | 3,754 |
| COST ADJ ON SALE | 138 |
| ROUNDING | 1 |
| WASH SALES ADJ | 41 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| SUB ADVISER FEES | 8,144 | 8,144 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAXES | 3,098 | 3,098 | 0 | |
| FEDERAL TAX PAYMENT - PRIOR YE | 81 | 0 | 0 | |
| FEDERAL ESTIMATES - PRINCIPAL | 10,531 | 0 | 0 | |
| FOREIGN TAXES ON QUALIFIED FOR | 2,854 | 2,854 | 0 |