| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 8,625 | 8,625 | 0 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 21ST CENTURY FOX AMERICA 3.7 25 | 273,880 | 270,258 |
| 3M COMPANY 3.00 25 | 264,110 | 277,470 |
| AETNA 3.5 24 | 521,540 | 548,785 |
| AFLAC 3.625 23 | 785,881 | 808,650 |
| AID-ISRAEL 0 23 | 55,608 | 147,597 |
| ALLSTATE CORP 3.28 26 | 269,375 | 285,400 |
| ALLY FINANCIAL / GEN MOTORS 8 31 | 257,422 | 355,678 |
| ALTRIA GROUP 2.85 22 | 254,065 | 259,620 |
| ALTRIA GROUP 4.75 21 | 268,863 | 253,602 |
| AMAZON.COM INC 3.15 27 | 268,848 | 569,280 |
| AMAZON.COM INC 5.2 25 | 562,130 | 303,360 |
| AMERICAN EXPRESS CO 3.625 24 | 516,476 | 554,820 |
| AMERICAN INTL GROUP 3.9 26 | 273,955 | 285,072 |
| ANHEUSER BUSCH 4 .75 2029 | 309,733 | 308,725 |
| ANHEUSER BUSCH 4 2028 | 284,100 | 294,740 |
| ANHEUSER-BUSCH 3.65 26 | 265,880 | 283,182 |
| ANTHEM INC 2.875 2029 | 269,116 | 277,940 |
| ANTHEM INC 3.65 27 | 269,068 | 288,292 |
| APPLE 2.4 23 | 91,156 | 104,896 |
| APPLE 3.85 43 | 84,410 | 126,340 |
| APPLE INC 3.25 26 | 260,397 | 280,552 |
| APPLE INC 3.35 27 | 264,429 | 285,195 |
| AT&T 4.125 26 | 271,915 | 289,318 |
| BANK OF NY MELLON 3 28 | 280,887 | 282,425 |
| BANK OF NY MELLON 3 4.625 49 | 1,053,755 | 1,060,000 |
| BANK OF NY MELLON 3.55 21 | 264,598 | 255,293 |
| BANK OF NY MELLON 3.65 24 | 269,205 | 274,115 |
| BANK OF NY MELLON CORP 3.25 27 | 262,900 | 281,542 |
| BANK OF NY MELLON CORP VAR% 28 | 269,750 | 285,465 |
| BERKSHIRE HATHAWAY 3 23 | 250,378 | 263,742 |
| BERKSHIRE HATHAWAY 3.125 26 | 280,475 | 279,328 |
| BERKSHIRE HATHAWAY 3.125 26 | 266,035 | 279,327 |
| BERKSHIRE HATHAWAY 3.75 21 | 266,512 | 255,327 |
| BOEING 6.875 | 134,805 | 136,298 |
| BOSTON PROPERTIES 4.125 21 | 243,206 | 251,035 |
| BRISTOL MYERS SQUIBB 3.25 23 | 263,197 | 271,070 |
| BRISTOL MYERS SQUIBB 3.25 27 | 529,863 | 565,180 |
| CAMPBELL'S SOUP 2.5 22 | 256,338 | 258,335 |
| CANADIAN PACIFIC 4.45 23 | 260,817 | 268,918 |
| CAPITAL ONE FINCL CO | 250,000 | 260,000 |
| CATERPILLAR 2.6 22 | 258,091 | 257,005 |
| CATERPILLAR INC 2.6 29 | 257,280 | 276,210 |
| CATERPILLAR INC 3.4 24 | 264,897 | 272,553 |
| CBS 3.375 22 | 265,192 | 256,350 |
| CBS CORP 4.00 26 | 274,301 | 286,125 |
| CIGNA 4 22 | 531,185 | 513,715 |
| CIGNA 4.375 28 | 281,420 | 302,173 |
| CITIGROUP INC 4 80 | 2,815,317 | 2,822,188 |
| CITIGROUP INC 4.4 25 | 267,726 | 285,828 |
| CITIGROUP INC 4.45 27 | 536,514 | 591,070 |
| CLOROX 3.8 21 | 538,950 | 515,195 |
| COCA COLA 2.5 23 | 260,202 | 262,630 |
| COCA-COLA CO 2.55 26 | 259,813 | 273,945 |
| COLGATE PALMOLIVE 3.25 24 | 251,950 | 272,598 |
| COMCAST CORP 3.3 27 | 262,680 | 282,045 |
| COMCAST CORP 3.375 25 | 270,608 | 276,405 |
| CONOCOPHILLIPS COMPANY 4.95 26 | 287,116 | 300,172 |
| CVS CAREMARK 4.125 21 | 260,557 | 250,495 |
| ESTEE LAUDER 2.35 22 | 508,412 | 516,640 |
| EXXON MOBIL CORPORATION 3.043 26 | 257,907 | 276,995 |
| FEDEX 2.7 23 | 254,278 | 262,335 |
| FEDEX 3.2 25 | 251,652 | 274,360 |
| FIFTH THIRD BANCORP 3.349 49 | 2,691,622 | 2,626,250 |
| GENERAL MILLS 3.15 21 | 524,769 | 509,640 |
| GENERAL MTRS FINCL CO INC | 965,095 | 1,040,000 |
| GOLDMAN SACHS 3.25 22 | 253,925 | 253,637 |
| GOLDMAN SACHS 3.5 25 | 261,904 | 275,915 |
| GOLDMAN SACHS 3.8 30 | 295,563 | 294,165 |
| GOLDMAN SACHS 3.85 24 | 263,100 | 276,418 |
| HALLIBURTON 3.5 23 | 256,900 | 267,125 |
| HOME DEPOT 4.4 21 | 528,932 | 500,000 |
| HOME DEPOT INC 3.35 25 | 266,945 | 281,524 |
| HONEYWELL INTL 3.35 23 | 268,440 | 272,233 |
| HUMANA INC 3.95 27 | 532,323 | 575,435 |
| INGERSOLL RAND 4.25 23 | 282,449 | 272,725 |
| INTEL 2.7 22 | 253,520 | 261,825 |
| INTEL CORP 3.15 27 | 257,577 | 282,180 |
| INTEL CORP 3.7 25 | 284,168 | 282,882 |
| INTERNATIONAL PAPER CO 3.8 26 | 268,378 | 283,255 |
| JOHNSON & JOHNSON 3.375 23 | 271,932 | 273,203 |
| JP MORGAN CHASE 3.5 26 | 272,450 | 279,590 |
| JP MORGAN CHASE 3.875 24 | 267,275 | 275,110 |
| JP MORGAN CHASE 4.6 50 | 6,866,335 | 7,356,563 |
| JP MORGAN CHASE 4.86 49 | 1,896,032 | 1,964,880 |
| JP MORGAN CHASE 4.86 49 | 4,994,211 | 4,983,550 |
| KIMBERLY-CLARK 2.4 22 | 258,675 | 256,185 |
| KIMBERLY-CLARK 3.875 21 | 269,078 | 251,335 |
| LOCKHEED MARTIN 3.35 21 | 143,469 | 136,815 |
| LOCKHEED MARTIN 3.55 26 | 277,523 | 283,975 |
| LOWE'S COMPANIES 3.75 21 | 247,220 | 250,610 |
| MCDONALDS 3.25 24 | 263,703 | 273,313 |
| MCDONALDS 3.375 25 | 265,044 | 277,643 |
| MCDONALDS CORP 3.7 26 | 271,783 | 284,773 |
| MCKESSON CORP 3.796 24 | 272,350 | 274,395 |
| MCKESSON CORP 3.95 28 | 267,420 | 291,407 |
| MERCK & CO INC 2.75 25 | 257,015 | 271,580 |
| MERCK 2.4 22 | 254,074 | 258,440 |
| METLIFE 3.6 24 | 268,545 | 274,770 |
| METLIFE INC 3 25 | 259,527 | 274,635 |
| METLIFE INC 4.75 | 250,000 | 272,000 |
| MICROSOFT CORP 3.125 25 | 533,979 | 558,970 |
| MICROSOFT CORP 3.300 27 | 263,578 | 285,265 |
| MONSANTO CO 5.5 25 | 301,172 | 288,465 |
| MORGAN STANLEY | 1,945,005 | 1,985,600 |
| NEWELL RUBBERMAID 4 24 | 262,899 | 265,000 |
| NORFOLK SOUTHERN 3 22 | 263,160 | 256,662 |
| NORFOLK SOUTHERN 7.05 37 | 127,375 | 148,667 |
| NORTHERN TRUST CORP 3.65 28 | 273,850 | 292,657 |
| ORACLE CORP 2.95 25 | 262,062 | 274,565 |
| PEPSICO 2.85 26 | 257,724 | 276,798 |
| PEPSICO 3. 27 | 283,943 | 282,010 |
| PEPSICO INC 3 27 | 268,188 | 282,010 |
| PETROBRAS GLOBAL FINANCE | 1,100,005 | 1,242,500 |
| PFIZER 3 23 | 258,257 | 266,423 |
| PFIZER 3.45 29 | 296,165 | 292,193 |
| PFIZER INC 3.00 26 | 257,555 | 282,330 |
| PFIZER INC 3.4 24 | 280,408 | 274,727 |
| PHILIP MORRIS 2.5 22 | 257,460 | 259,093 |
| PNC BANK 3.25 28 | 268,745 | 285,247 |
| PRUDENTIAL FINANCIAL INC 3.878 28 | 554,457 | 587,910 |
| PSEG POWER LLC 4.3 23 | 262,630 | 272,770 |
| QUEST DIAGNOSTICS INC 3.5 25 | 529,445 | 555,855 |
| SCHWAB CHARLES CORP NEW | 2,312,218 | 2,326,025 |
| SOUTHERN CO 3.25 26 | 249,516 | 280,445 |
| SOUTHERN CO4.2 60 | 500,000 | 538,400 |
| SOUTHERN POWER CO 4.15 25 | 268,484 | 286,755 |
| STARBUCKS CORP 3.5 28 | 276,175 | 286,542 |
| STARBUCKS CORP 3.5 28 | 271,945 | 286,542 |
| STARBUCKS CORP 3.5 29 | 293,697 | 290,925 |
| STATE STREET CORP 2.65 26 | 254,383 | 275,042 |
| STATE STREET CORP 3.30 24 | 254,880 | 277,397 |
| SYSCO CORP 3.75 25 | 272,740 | 280,675 |
| TARGET CORP 3.5 24 | 268,075 | 276,754 |
| THOMSON REUTERS 3.35 26 | 251,857 | 280,450 |
| THOMSON REUTERS 3.85 24 | 266,738 | 274,527 |
| TIME WARNER INC 3.875 26 | 261,600 | 272,430 |
| UNION PACIFIC 2.95 23 | 266,992 | 261,308 |
| UNITED HEALTH GROUP 3.375 21 | 274,483 | 254,617 |
| UNITED HEALTH GROUP INC 3.75 25 | 281,848 | 284,835 |
| UNITEDHEALTH GROUP INC 3.45 27 | 267,602 | 286,245 |
| US BANCORP 3.10 26 | 513,907 | 556,470 |
| US BANCORP 3.75 26 | 500,000 | 504,600 |
| VENTAS REALTY 3.5 25 | 257,591 | 275,325 |
| VENTAS REALTY LP 3.85 27 | 268,552 | 279,785 |
| VERIZON COMMUNICATIONS 3.376 25 | 263,525 | 277,660 |
| VERIZON COMMUNICATIONS 4.016 29 | 298,375 | 297,273 |
| VERIZON COMMUNICATIONS 5.15 23 | 277,722 | 281,710 |
| VERIZON COMMUNICATIONS 6.4 33 | 111,180 | 141,944 |
| VIACOM 3.875 24 | 259,387 | 273,288 |
| VISA INC 3.15 25 | 533,240 | 560,925 |
| VODAFONE GROUP INC 2.950 23 | 255,270 | 262,833 |
| WALGREENS BOOTS ALLIANCE 3.45 26 | 251,716 | 276,500 |
| WALMART 3.3 24 | 533,607 | 544,945 |
| WALMART 3.7 28 | 297,037 | 294,463 |
| WALMART INC 3.25 29 | 273,425 | 290,955 |
| WALMART INC 3.55 25 | 269,910 | 283,090 |
| WALT DISNEY 2.55 22 | 260,700 | 256,087 |
| WALT DISNEY COMPANY 3.0 26 | 529,813 | 555,220 |
| WELLS FARGO & COMPANY 4.30 27 | 271,307 | 292,945 |
| WELLS FARGO 3.45 23 | 251,070 | 264,937 |
| WELLS FARGO 4.48 24 | 264,725 | 278,050 |
| WHIRLPOOL 4.85 21 | 540,000 | 509,765 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ADVERUM BIOTECHNOLOGIES INC | 2,740,969 | 2,448,723 |
| ALEXANDRIA REAL ESTATE EQTS | 517,055 | 534,660 |
| ALPHABET INC | 1,263,783 | 1,751,880 |
| AMAZON INC | 917,491 | 1,628,465 |
| AMAZON INC | 1,430,159 | 6,188,167 |
| AMERICAN EXPRESS CO | 2,964,380 | 3,017,447 |
| AMERICAN EXPRESS CO | 3,412,505 | 3,406,795 |
| APPLE INC | 366,460 | 3,449,940 |
| APPLE INC | 885,142 | 8,332,932 |
| ARCHER DANIELS MIDLAND | 566,777 | 675,444 |
| AT&T INC 5 PFD SERIES A | 500,000 | 542,800 |
| AVALON BAY COMM REIT | 4,045,064 | 3,944,172 |
| BANK OF AMERICA CORP 5.375 PFD | 250,000 | 273,100 |
| BRISTOL MEYERS SQUIBB | 258,600 | 310,150 |
| CITI GROUP SER J 7.125 PFD | 500,000 | 568,800 |
| CITIGROUP | 4,102,885 | 4,157,500 |
| COCA COLA | 196,077 | 329,040 |
| ELI LILLY | 261,633 | 962,388 |
| ENERGY TRANSFER OPER LP | 7,812,947 | 8,179,500 |
| ESSEX PROPERTY TRUST REIT | 196,680 | 712,260 |
| FIRST REPUBLIC BANK 4.7 PFD | 250,000 | 264,900 |
| FIRST REPUBLIC BANK 5.125 PFD | 250,000 | 269,800 |
| GOLDMAN SACHS CAPITAL II | 940,005 | 982,500 |
| GOLDMAN SACHS CAPITAL II | 1,897,505 | 1,965,000 |
| ILLUMINA INC | 714,658 | 740,000 |
| ILLUMINA INC COM | 954,998 | 1,295,000 |
| INTEL | 450,404 | 895,515 |
| IVERIC BIO INC | 526,980 | 552,800 |
| JBG SMITH PROPERTIES | 184,545 | 218,890 |
| JBG SMITH PROPERTIES | 1,807,251 | 2,143,621 |
| JOHNSON CONTROLS INTER | 695,501 | 931,800 |
| JP MORGAN CHASE & CO | 3,040,005 | 3,143,808 |
| LOWE'S COMPANIES INC | 165,840 | 1,765,610 |
| MICROSOFT CORP | 572,567 | 1,112,100 |
| MICROSOFT CORP | 1,048,800 | 1,112,100 |
| MONDELEZ INTERNATIONAL | 129,572 | 344,973 |
| NOVARTIS | 337,781 | 472,150 |
| ORACLE | 684,600 | 1,293,800 |
| PAYPAL | 589,505 | 702,600 |
| PFIZER INC | 182,044 | 184,050 |
| TESLA INC | 482,828 | 1,764,175 |
| VERIZON COMMUNUCATIONS | 110,713 | 135,184 |
| VIACOMCBSINC | 380,235 | 931,500 |
| VIATRIS INC | 9,581 | 11,618 |
| VORNADO REALTY TRUST | 4,787,919 | 3,252,463 |
| VORNADO REALTY TRUST SER M 5.25 | 125,000 | 131,800 |
| WALMART STORES | 1,633,125 | 2,018,100 |
| WALMART STORES | 697,368 | 1,441,500 |
| WALT DISNEY CO | 48,518 | 175,745 |
| WELLS FARGO 5.85 PFD | 500,000 | 537,000 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| MERRILL LYNCH CMA FUND | AT COST | 5,620,473 | 5,620,473 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| OTHER INVESTMENT EXPENSES | 3,027 | 3,027 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| OTHER INVESTMENT INCOME | 411 | 411 | 411 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FEDERAL EXCISE TAX | 49,960 | 0 | 0 |