| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 4,584 | 1,375 | 3,209 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AMAZON.COM INC | 31,277 | 32,569 |
| BOOKING HOLDINGS INC COM STK | 13,790 | 17,818 |
| BROWN-FORMAN CORP CLASS B COMMON STOCK | 23,026 | 27,403 |
| DOLLAR GENERAL CORP COM STK | 17,598 | 19,558 |
| NIKE INC CL B | 19,102 | 27,021 |
| STARBUCKS CORP | 11,340 | 13,159 |
| COLGATE PALMOLIVE CO | 19,483 | 22,489 |
| COSTCO WHOLESALE CORP | 13,945 | 16,955 |
| DIAGEO PLC SPNSORED ADR | 24,688 | 27,157 |
| NESTLE S A SPONS ADR | 15,717 | 16,609 |
| BERKSHIRE HATHAWAY INC CL B | 41,940 | 51,939 |
| ARTHUR J GALLGHER & CO | 31,233 | 38,969 |
| PROGRESSIVE CORP OHIO | 19,742 | 23,830 |
| BAXTER INTL INC | 21,121 | 19,819 |
| HENRY SCHEIN INC COM STK | 21,208 | 22,933 |
| THERMO FISHER SCIENTIFIC INC | 8,270 | 8,850 |
| ZOETIS INC COM STK | 34,681 | 41,375 |
| PERRIGO CO PLC COM STK | 9,760 | 8,094 |
| ALCON INC COM STK | 29,671 | 33,056 |
| COPART INC COM STK | 27,482 | 39,892 |
| GRACO INC COMMON STOCK | 8,347 | 8,754 |
| AO SMITH CORP COM STK | 20,819 | 23,189 |
| WASTE MANAGEMENT INC | 13,998 | 15,449 |
| ALLEGION PLC COM STK | 20,288 | 22,112 |
| FLEETCOR TECHNOLOGIES INC COM STK | 30,238 | 30,830 |
| KLA CORPORATION | 15,547 | 20,713 |
| MASTERCARD INCORPORATED | 34,720 | 40,691 |
| ORACLE CORP | 25,937 | 30,792 |
| VISA INC CL.A SHARES | 10,518 | 11,811 |
| CELANESE CORP COM STK | 16,929 | 23,779 |
| LINDE PLC COM STK | 31,963 | 37,945 |
| ALPHABET INC CL C | 47,864 | 57,812 |
| COMCAST CORP CL A | 13,828 | 17,816 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| BBH LIMITED DURATION FUND CL I | AT COST | 554,000 | 564,542 |
| BBH INCOME FUND-I | AT COST | 480,000 | 481,360 |
| AKRE FOCUS FUND-SUPRA INST | AT COST | 287,600 | 312,445 |
| CLARKSTON SERIES TRUST CLARKSTON PARTNERS FUND FOUNDERS CL | AT COST | 296,200 | 351,802 |
| BBH PARTNER FUND - INTERNATIONAL EQUITY | AT COST | 442,600 | 517,562 |
| GQG PART EMERG MKTS EQ-INST | AT COST | 109,824 | 142,338 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| BANK FEES | 10 | 0 | 10 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| BBH - OTHER INCOME | 421 | 421 | 421 |
| BBH - LONG TERM CAPITAL GAINS SDISTRIBUTIONS | 24,349 | 24,349 | 24,349 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT FEES | 4,867 | 4,867 | 0 |