| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 5,736 | 5,736 | 0 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| CAPITAL ONE FINANCIAL COMPANY SENIOR UNSECURED NOTES | 1,331,616 | 1,331,616 |
| AIR LEASE CORPORATION SENIOR UNSECURED NOTES | 1,359,954 | 1,359,954 |
| FINIAL HOLDINGS INC SENIOR NOTES | 1,351,726 | 1,351,726 |
| CIMAREX ENERGY COMPANY SENIOR UNSECURED NOTES | 1,352,104 | 1,352,104 |
| OVINTIV EXPLORATION INC SENIOR UNSECURED NOTES | 1,211,089 | 1,211,089 |
| SOUTHWEST AIRLINES COMPANY NOTES | 1,388,913 | 1,388,913 |
| GOLDMAN SACHS GROUP INC NOTES | 1,387,919 | 1,387,919 |
| CITIGROUP INC SUBORDINATED NOTES | 1,388,985 | 1,388,985 |
| BANK OF AMERICA CORPORATION SENIOR UNSECURED NOTES | 1,382,597 | 1,382,597 |
| AMERICAN TOWER CORPORATION SENIOR UNSECURED NOTES | 1,364,738 | 1,364,738 |
| ARCELORMITTAL SENIOR UNSECURED NOTES | 1,259,423 | 1,259,423 |
| TJX COMPANIES INC SENIOR UNSECURED NOTES | 1,394,483 | 1,394,483 |
| PLAINS ALL AMERICAN PIPELINE SENIOR UNSECURED NOTES | 1,263,114 | 1,263,114 |
| JEFFERIES GROUP INC SENIOR UNSECURED NOTES | 1,390,351 | 1,390,351 |
| DISCOVER FINANCIAL SERVICES SENIOR UNSECURED NOTES | 1,382,763 | 1,382,763 |
| HCA INC GUARANTEED SENIOR SECURED NOTES 1ST LIEN | 1,350,207 | 1,350,207 |
| MICRON TECHNOLOGY INC SENIOR UNSECURED NOTES | 1,368,888 | 1,368,888 |
| APPLE INC SENIOR UNSECURED NOTES | 1,402,856 | 1,402,856 |
| VMWARE INC SENIOR UNSECURED NOTES | 1,388,998 | 1,388,998 |
| MPT OPERATING PARTNERSHIP/FINL SENIOR UNSECURED NOTES | 1,412,438 | 1,412,438 |
| UNITED RENTALS NORTH AMERICA SENIOR SECURED NOTES | 1,398,857 | 1,398,857 |
| J P MORGAN CHASE & COMPANY SUBORDINATED NOTES | 916,411 | 916,411 |
| WELLS FARGO & COMPANY SENIOR UNSECURED NOTES | 1,398,436 | 1,398,436 |
| DXC TECHNOLOGY COMPANY SENIOR UNSECURED NOTES | 1,394,206 | 1,394,206 |
| FLUOR CORPORATION SENIOR UNSECURED NOTES | 1,442,031 | 1,442,031 |
| BROADCOM INC SENIOR NOTES | 1,395,581 | 1,395,581 |
| LAS VEGAS SANDS CORPORATION SENIOR UNSECURED NOTES | 1,360,598 | 1,360,598 |
| FFCB | 67,608 | 67,608 |
| FFCB | 193,810 | 193,810 |
| TVA | 243,838 | 243,838 |
| TVA STRIPS | 124,511 | 124,511 |
| TVA STRIPS | 198,172 | 198,172 |
| TVA STRIPS | 102,418 | 102,418 |
| APPLE INC | 213,769 | 213,769 |
| BERKSHIRE HATHAWAY FIN | 80,771 | 80,771 |
| CHEVRON CORP | 154,661 | 154,661 |
| EXXON MOBIL CORPORATION | 286,078 | 286,078 |
| IBM CORP | 155,871 | 155,871 |
| JOHNSON & JOHNSON | 106,616 | 106,616 |
| MICROSOFT CORP | 104,944 | 104,944 |
| MICROSOFT CORP | 373,192 | 373,192 |
| AMERICAN EXPR CENTURION [27471] | 150,878 | 150,878 |
| APEX BANK [9176] | 271,240 | 271,240 |
| CITIBANK NA [7213] | 269,522 | 269,522 |
| COMENITY CAPITAL BANK [57570] | 254,562 | 254,562 |
| DISCOVER BANK [5649] | 207,476 | 207,476 |
| FIRST FED S&L BANK [28635] | 265,785 | 265,785 |
| GOLDMAN SACHS BANK USA [33124] | 202,128 | 202,128 |
| LIVE OAK BANKING COMPANY [58665] | 206,947 | 206,947 |
| MORGAN STANLEY PVT BANK [34221] | 253,505 | 253,505 |
| REGIONS BANK [57293] | 256,206 | 256,206 |
| SALLIE MAE BANK/SALT LKE [58177] | 253,287 | 253,287 |
| BRANDYWINEGLOBAL CORPORATE CREDIT IS | 4,190,456 | 4,190,456 |
| VANGUARD INTERMEDIATE-TERM INVESTMENT-GRADE ADM | 3,387,810 | 3,387,810 |
| VANGUARD SHORT-TERM INVESTMENT GRADE ADM | 1,980,039 | 1,980,039 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AMERICAN INTERNATIONAL GROUP INC | 1,512,021 | 1,512,021 |
| ARCHER DANIELS MIDLD | 1,622,363 | 1,622,363 |
| BAXTER INTERNTL INC | 1,631,990 | 1,631,990 |
| BROADCOM INC | 2,118,000 | 2,118,000 |
| CIGNA CORP REG SHS | 1,378,010 | 1,378,010 |
| CISCO SYSTEMS INC COM | 1,828,225 | 1,828,225 |
| COGNIZANT TECH SOLUTNS A | 1,481,003 | 1,481,003 |
| COMCAST CORP NEW CL A | 1,385,988 | 1,385,988 |
| CONAGRA BRANDS INC | 1,486,550 | 1,486,550 |
| CONOCOPHILLIPS | 1,677,752 | 1,677,752 |
| CVS HEALTH CORP | 2,018,944 | 2,018,944 |
| DISCOVER FINL SVCS | 1,376,088 | 1,376,088 |
| DISNEY (WALT) CO COM STK | 1,393,855 | 1,393,855 |
| DOLLAR GENERAL CORP | 1,591,617 | 1,591,617 |
| DOLLAR TREE INC | 1,638,744 | 1,638,744 |
| DOVER CORP | 1,543,237 | 1,543,237 |
| DUPONT DE NEMOURS INC | 1,707,124 | 1,707,124 |
| EDISON INTL CALIF | 1,425,879 | 1,425,879 |
| EQUITY RESIDENTIAL REIT | 1,781,583 | 1,781,583 |
| FIDELITY NATL INFO SVCS INC | 1,271,379 | 1,271,379 |
| HONEYWELL INTL INC DEL | 1,266,073 | 1,266,073 |
| JOHNSON AND JOHNSON COM | 1,287,815 | 1,287,815 |
| MERCK AND CO INC SHS | 1,424,278 | 1,424,278 |
| METLIFE INC COM | 1,504,447 | 1,504,447 |
| MOTOROLA SOLUTIONS INC | 1,626,396 | 1,626,396 |
| NORTHROP GRUMMAN CORP | 1,440,287 | 1,440,287 |
| ORACLE CORP $0.01 DEL | 1,459,111 | 1,459,111 |
| RAYTHEON TECHNOLOGIES CORP | 1,452,779 | 1,452,779 |
| TJX COS INC NEW | 1,541,632 | 1,541,632 |
| TRUIST FINL CORP | 1,760,716 | 1,760,716 |
| US BANCORP | 1,394,870 | 1,394,870 |
| VERIZON COMMUNICATNS COM | 1,372,887 | 1,372,887 |
| VIATRIS INC | 1,267,355 | 1,267,355 |
| ALIBABA GROUP HOLDING LT | 340,571 | 340,571 |
| ALPHABET INC SHS CL A | 984,994 | 984,994 |
| ALPHABET INC SHS CL C | 986,714 | 986,714 |
| AMAZON COM INC COM | 1,500,453 | 1,500,453 |
| AUTODESK INC DEL PV$0.01 | 1,015,377 | 1,015,377 |
| AUTOMATIC DATA PROC | 195,291 | 195,291 |
| BOEING COMPANY | 1,030,758 | 1,030,758 |
| CISCO SYSTEMS INC COM | 452,018 | 452,018 |
| COLGATE PALMOLIVE | 295,362 | 295,362 |
| DEERE CO | 583,599 | 583,599 |
| DISNEY (WALT) CO COM STK | 819,833 | 819,833 |
| EXPEDITORS INTL WASH INC | 542,666 | 542,666 |
| FACTSET RESH SYS INC | 434,007 | 434,007 |
| ILLUMINA INC COM | 525,388 | 525,388 |
| INTUITIVE SURGICAL INC NEW | 347,084 | 347,084 |
| META PLATFORMS INC CLASS A COMMON STOCK | 1,399,552 | 1,399,552 |
| MICROSOFT CORP | 1,243,039 | 1,243,039 |
| MONSTER BEVERAGE SHS | 733,842 | 733,842 |
| NOVARTIS ADR | 613,427 | 613,427 |
| NOVO NORDISK A S ADR | 296,912 | 296,912 |
| NVIDIA | 1,725,249 | 1,725,249 |
| ORACLE CORP $0.01 DEL | 1,025,764 | 1,025,764 |
| QUALCOMM INC | 612,615 | 612,615 |
| REGENERON PHARMACTCLS | 666,885 | 666,885 |
| ROCHE HLDG LTD SPN ADR | 604,463 | 604,463 |
| SALESFORCE COM INC | 896,317 | 896,317 |
| SCHLUMBERGER LTD | 307,557 | 307,557 |
| SEI INVT CO PA PV $0.01 | 301,958 | 301,958 |
| STARBUCKS CORP | 565,901 | 565,901 |
| VERTEX PHARMCTLS INC | 591,383 | 591,383 |
| VISA INC CL A SHRS | 1,248,900 | 1,248,900 |
| WORKDAY INC CL A | 338,470 | 338,470 |
| YUM BRANDS INC | 330,765 | 330,765 |
| YUM CHINA HOLDINGS INC SHS | 157,445 | 157,445 |
| A N S Y S INC COM | 241,875 | 241,875 |
| AKAMAI TECHNOLOGIES INC | 263,808 | 263,808 |
| ALBANY INTL CRP NEW CL A | 400,679 | 400,679 |
| ALTRA INDUSTRIAL MOTION CORP | 315,866 | 315,866 |
| ARCHROCK INC | 208,864 | 208,864 |
| BIO RAD LABS CL A | 633,168 | 633,168 |
| BRYN MAWR BK CORP COM | 495,785 | 495,785 |
| CABOT CORP | 290,891 | 290,891 |
| CIRRUS LOGIC INC DEL | 330,904 | 330,904 |
| CMC MATERIALS INC CORP | 376,287 | 376,287 |
| DARLING INGREDIENTS INC | 638,507 | 638,507 |
| DIGI INTL INC | 326,486 | 326,486 |
| DIODES INC COM | 508,310 | 508,310 |
| EASTGROUP PROPERTIES INC REIT | 518,587 | 518,587 |
| EMERGENT BIOSOLUTIONS INC | 223,827 | 223,827 |
| ENERSYS | 266,590 | 266,590 |
| ENTEGRIS INC MINNESOTA | 435,418 | 435,418 |
| FB FINL CORP | 346,660 | 346,660 |
| FIRSTCASH HLDGS INC | 306,048 | 306,048 |
| FORMFACTOR INC | 374,767 | 374,767 |
| FRANKLIN EL CO PV10CT INDIANA | 431,761 | 431,761 |
| HACKETT GROUP INC/THE | 229,012 | 229,012 |
| HEARTLAND FINANCIAL USA INC | 219,951 | 219,951 |
| HEXCEL CORP NEW COM | 257,342 | 257,342 |
| HORACE MANN EDUCTRS NEW | 176,511 | 176,511 |
| HOSTESS BRANDS INC | 369,806 | 369,806 |
| JACK IN THE BOX INC | 406,607 | 406,607 |
| KIMBALL ELECTRONICS INC SHS | 170,337 | 170,337 |
| LITTELFUSE INC DEL COM | 385,798 | 385,798 |
| MEDICAL PPTYS TR INC | 130,816 | 130,816 |
| MERITAGE HOMES CORP | 423,670 | 423,670 |
| MONOLITHIC PWR SYSTEMS INC | 401,571 | 401,571 |
| MOOG INC CL A | 222,587 | 222,587 |
| MYRIAD GENETICS INC | 248,345 | 248,345 |
| NOV INC | 265,309 | 265,309 |
| ORASURE TECHS INC COM | 202,816 | 202,816 |
| PEBBLEBROOK HOTEL TRUST | 273,719 | 273,719 |
| PENN NATL GAMING CORP | 350,299 | 350,299 |
| RAYMOND JAMES FINL INC | 456,820 | 456,820 |
| SANMINA CORP | 346,689 | 346,689 |
| STEELCASE INC 'A' | 217,406 | 217,406 |
| TECHTARGET INC | 716,972 | 716,972 |
| TELEDYNE TECH INC | 449,123 | 449,123 |
| TRUSTMARK CORP COM | 180,445 | 180,445 |
| UNITED FIRE GROUP INC | 160,452 | 160,452 |
| WELBILT INC | 317,258 | 317,258 |
| WESBANCO INC | 238,457 | 238,457 |
| WOLVERINE WORLD WIDE | 277,095 | 277,095 |
| ADIDAS AG SPONSORED ADR | 394,416 | 394,416 |
| AIA GROUP LTD SPONSORED ADR | 401,471 | 401,471 |
| ALCON SA ACT NOM | 356,321 | 356,321 |
| ASML HLDG NV NY REG SHS | 740,410 | 740,410 |
| ASTRAZENECA PLC SPND ADR | 440,953 | 440,953 |
| BARCLAYS PLC ADR | 383,271 | 383,271 |
| BAYERISCHE MOTOREN WERKE A G | 307,180 | 307,180 |
| BRIDGESTONE CORP ADR | 356,263 | 356,263 |
| BUNZL PLC ADR | 378,562 | 378,562 |
| BURBERRY GROP PLC-SP ADR | 196,627 | 196,627 |
| CANADIAN NATL RAILWAY CO | 354,328 | 354,328 |
| CIE FINANCIERE RICHEMONT SA SHS | 456,259 | 456,259 |
| DAIMLER AG ADR | 258,309 | 258,309 |
| DIAGEO PLC SPSD ADR NEW | 443,362 | 443,362 |
| DNB BANK ASA SHS ADR | 316,549 | 316,549 |
| EQUINOR ASA | 291,368 | 291,368 |
| ERSTE GROUP BK SP ADR | 288,162 | 288,162 |
| GLAXOSMITHKLINE PLC ADR | 379,701 | 379,701 |
| HDFC BANK LTD ADR | 350,532 | 350,532 |
| HONG KONG EXCHANGES AND CLEARING LTD SHS | 362,966 | 362,966 |
| IBERDROLA S A ADR | 218,346 | 218,346 |
| INFINEON TECHS AG SPDADR | 506,552 | 506,552 |
| INTESA SANPAOLO SPON ADR | 288,040 | 288,040 |
| KNORR-BREMSE AG | 234,244 | 234,244 |
| KUBOTA CORP ADR | 236,958 | 236,958 |
| LONZA GROUP AG SHS | 469,187 | 469,187 |
| MERCADOLIBRE INC | 424,746 | 424,746 |
| NATIONAL GRID PLC SHS ADR | 300,851 | 300,851 |
| NESTLE S A REP RG SH ADR | 583,518 | 583,518 |
| NICE LTD ADR | 272,026 | 272,026 |
| RECKITT BENCKISER GROUP PLC SHS SPONSORE ADR | 430,693 | 430,693 |
| ROCHE HLDG LTD SPN ADR | 460,351 | 460,351 |
| ROYAL DUTCH SHELL PLC SPONS ADR A | 506,738 | 506,738 |
| SAP SE SHS | 245,052 | 245,052 |
| SCHNEIDER ELEC SE ADR | 757,145 | 757,145 |
| SEA LTD | 295,073 | 295,073 |
| SIEMENS AG ADR | 317,995 | 317,995 |
| SIKA AG-BR-ADR | 273,797 | 273,797 |
| SMC CORP JAPAN SPONSORED ADR | 496,159 | 496,159 |
| SONY GROUP CORP | 623,784 | 623,784 |
| SVENSKA HANDELSBANKEN AB SHS | 295,275 | 295,275 |
| TAIWAN S MANUFCTRING ADR | 602,633 | 602,633 |
| TECHTRONIC INDS SPD ADR | 294,125 | 294,125 |
| TENCENT HOLDINGS LTD ADR | 459,229 | 459,229 |
| VESTAS WIND SYTS AS ADR | 360,730 | 360,730 |
| A.P. MOELLER - MAERSK A/S SHS UNSPONSORE ADR | 777,313 | 777,313 |
| ACCENTURE PLC SHS | 364,389 | 364,389 |
| AIRBUS SE | 223,147 | 223,147 |
| AXA -SPONS ADR | 422,615 | 422,615 |
| BANCO BILBAO VIZCAYA ARGENTARIA S A ADR | 484,480 | 484,480 |
| BARCLAYS PLC ADR | 273,768 | 273,768 |
| BASF SE SPONSORED ADR | 295,503 | 295,503 |
| BAYER AG SP ADR | 174,369 | 174,369 |
| BAYERISCHE MOTOREN WERKE A G | 301,702 | 301,702 |
| BERKELEY GROUP-UNSPON | 468,318 | 468,318 |
| BNP PARIBAS SPONSORD ADR | 590,804 | 590,804 |
| BP PLC SPON ADR | 239,164 | 239,164 |
| BRENNTAG SE ADR | 280,464 | 280,464 |
| CHOW TAI FOOK JEWELLERY GROUP LTD UNSPON ADR | 113,432 | 113,432 |
| CIE FINANCIERE RICHEMONT SA SHS | 447,050 | 447,050 |
| CNH INDUSTRIAL NV REG. SHS | 218,257 | 218,257 |
| COCA COLA FEMSA SP ADR | 202,449 | 202,449 |
| COMPASS GROUP PLC SHS ADR | 598,413 | 598,413 |
| DAITO TR CONSTRUCTION CO LTD SHS SPON ADR | 258,053 | 258,053 |
| FRESENIUS MEDICAL CARE AG & CO SPON ADR | 380,107 | 380,107 |
| GLENCORE PLC | 899,307 | 899,307 |
| HIKMA PHARMACEUTICALS PLC SHS | 173,279 | 173,279 |
| HITACHI LTD 10 NEW ADR | 390,782 | 390,782 |
| HOLCIM LTD NEW ADR | 282,520 | 282,520 |
| HONDA MOTOR ADR NEW | 321,969 | 321,969 |
| HYPERMARCAS S.A-SPN | 133,057 | 133,057 |
| INDUSTRIA DE DISENO TEXTIL INDITEX SA SH | 309,841 | 309,841 |
| INFINEON TECHS AG SPDADR | 473,524 | 473,524 |
| INPEX CORP SHS | 225,225 | 225,225 |
| INTESA SANPAOLO SPON ADR | 369,137 | 369,137 |
| ITAU UNIBANCO BANCO HOLD SA SPONSORED ADR | 102,514 | 102,514 |
| IVECO GROUP NV REG SHS | 43,640 | 43,640 |
| JAPAN AIRLINES CO LTD SHS ADR | 201,220 | 201,220 |
| JARDINE CYCLE AND C-UNSPON ADR | 164,682 | 164,682 |
| JULIUS BAER GROUP ADR | 180,258 | 180,258 |
| KBC GROUPE SA SHS | 280,969 | 280,969 |
| MARUBENI CORP ADR | 318,038 | 318,038 |
| MELCO RESORTS AND ENTERTAINMENT LTD | 181,764 | 181,764 |
| METSO OUTOTEC OYJ SHS ADR | 243,256 | 243,256 |
| MTU AERO ENGINES AG SHS | 140,679 | 140,679 |
| NEWCREST MNG LTD SPN ADR | 129,550 | 129,550 |
| NOVARTIS ADR | 174,503 | 174,503 |
| NUTRIEN LTD REG SHS | 474,512 | 474,512 |
| POSCO SPN ADR | 223,600 | 223,600 |
| ROCHE HLDG LTD SPN ADR | 358,057 | 358,057 |
| ROYAL DUTCH SHELL PLC SPONS ADR A | 289,391 | 289,391 |
| SANOFI ADR | 358,466 | 358,466 |
| SAP SE SHS | 228,099 | 228,099 |
| SCHNEIDER ELEC SE ADR | 413,352 | 413,352 |
| SENSATA TECHNOLOGIES HLDG PLC REGISTE | 346,883 | 346,883 |
| SHINHAN FINL GRP SP ADR | 162,896 | 162,896 |
| STD CHARTERED- UNSP | 283,339 | 283,339 |
| TENCENT HOLDINGS LTD ADR | 93,280 | 93,280 |
| TOTALENERGIES SE | 552,419 | 552,419 |
| TRAVELSKY TECHNOLOGY LTD SPON ADR | 257,150 | 257,150 |
| TREASURY WINE ESTATES LTD SHS ADR | 187,878 | 187,878 |
| UBS GROUP AG NAMEN-AKT | 274,519 | 274,519 |
| VODAFONE GROUP PLC SHS ADR | 222,427 | 222,427 |
| VOLKSWAGEN AG-UNSP | 384,050 | 384,050 |
| WIENERBERGER BAUST SPADR | 178,271 | 178,271 |
| A.P. MOELLER - MAERSK A/S SHS UNSPONSORE ADR | 191,156 | 191,156 |
| ABB LTD SPON ADR | 110,731 | 110,731 |
| ADMIRAL GROUP PLC SHS | 102,410 | 102,410 |
| AIRBUS SE | 84,306 | 84,306 |
| AJINOMOTO CO LTD ADR | 193,126 | 193,126 |
| ALLIANZ SE - UNSP | 195,019 | 195,019 |
| ANDRITZ AG SHS | 89,702 | 89,702 |
| ASML HLDG NV NY REG SHS | 371,797 | 371,797 |
| ATLAS COPCO A ADR NEW | 97,727 | 97,727 |
| AXA -SPONS ADR | 165,730 | 165,730 |
| BANCO BILBAO VIZCAYA ARGENTARIA S A ADR | 111,201 | 111,201 |
| BANK HAPOALIM BM SPON AD | 113,759 | 113,759 |
| BARCLAYS PLC ADR | 242,997 | 242,997 |
| BHP GROUP LTD | 235,305 | 235,305 |
| BNP PARIBAS SPONSORD ADR | 123,818 | 123,818 |
| BRENNTAG SE ADR | 83,628 | 83,628 |
| CARLSBERG AS SPONSOREDAD | 119,124 | 119,124 |
| CHECK POINT SOFTWRE TECH | 90,567 | 90,567 |
| CNH INDUSTRIAL NV REG. SHS | 203,996 | 203,996 |
| COCA-COLA HBC AG SHS ADR | 80,201 | 80,201 |
| COMPAGNIE DE SAINT-UNSP ADR | 190,560 | 190,560 |
| COVESTRO AG- | 299,143 | 299,143 |
| CRDT AGRICOLE SA SHS ADR | 125,932 | 125,932 |
| CSL LTD SHS ADR | 150,765 | 150,765 |
| DAI-ICHI LIFE INS-UNSPON | 166,729 | 166,729 |
| DAIMLER AG ADR | 346,755 | 346,755 |
| DAITO TR CONSTRUCTION CO LTD SHS SPON ADR | 159,911 | 159,911 |
| DAIWA HOUSE IND LTD ADR | 207,415 | 207,415 |
| DBS GROUP HLDGS SPN ADR | 173,301 | 173,301 |
| DEUTSCHE POST AG SHS SP ADR | 338,599 | 338,599 |
| DIAGEO PLC SPSD ADR NEW | 268,571 | 268,571 |
| E.ON SE ADR | 396,900 | 396,900 |
| ENEOS HOLDINGS, INC. SHS ADR | 72,094 | 72,094 |
| ENGIE SHS | 179,326 | 179,326 |
| ENTAIN PLC | 111,145 | 111,145 |
| ERICSSON AMERICAN SEK 10 NEW | 136,755 | 136,755 |
| GENMAB A/S SHS | 135,572 | 135,572 |
| GILDAN ACTIVEWEAR INC | 198,300 | 198,300 |
| GLAXOSMITHKLINE PLC ADR | 181,824 | 181,824 |
| HONDA MOTOR ADR NEW | 90,528 | 90,528 |
| HOYA CORP ADR | 439,287 | 439,287 |
| HUSQVARNA AB CL B ADR | 117,101 | 117,101 |
| ICON PLC | 218,648 | 218,648 |
| INTERCONTINENTAL HOTELS GROUP PLC | 91,685 | 91,685 |
| IPSEN SHS | 85,196 | 85,196 |
| IVECO GROUP NV REG SHS | 40,784 | 40,784 |
| JD SPORTS FASHION PLC SHS ADR | 107,267 | 107,267 |
| KB FINL GROUP INC SPN AD | 221,753 | 221,753 |
| KDDI CORP SHS | 135,483 | 135,483 |
| KESKO CORP SHS CL B | 125,051 | 125,051 |
| KINGFISHER PLC SP ADR | 90,372 | 90,372 |
| KONINKLIJKE AHOLD DELHAIZE NV SP ADR | 191,161 | 191,161 |
| L OREAL CO ADR | 199,142 | 199,142 |
| LEGRAND SA-UNSP | 97,668 | 97,668 |
| MAGNA INTL INC CL A VTG | 90,572 | 90,572 |
| MARUBENI CORP ADR | 87,772 | 87,772 |
| MITSUBISHI ELEC ADR | 233,264 | 233,264 |
| MITSUI CHEMICALS INC-UNS | 86,951 | 86,951 |
| MITSUI CO ADR | 97,768 | 97,768 |
| MURATA MANUFACTURING CO LTD SHS | 274,552 | 274,552 |
| NATWEST GROUP PLC | 135,776 | 135,776 |
| NESTE OYJ | 51,573 | 51,573 |
| NESTLE S A REP RG SH ADR | 484,417 | 484,417 |
| NEXT GROUP PLC-UNSPON | 149,450 | 149,450 |
| NIDEC CORPORATION ADR | 111,489 | 111,489 |
| NINTENDO LTD ADR | 174,410 | 174,410 |
| NIPPON TELG&TEL SPDN ADR | 156,484 | 156,484 |
| NITTO DENKO CORP ADR | 246,676 | 246,676 |
| NN GROUP NV - | 251,294 | 251,294 |
| NOKIA CORP SPON ADR | 170,615 | 170,615 |
| NOMAD FOODS LTD SHS | 84,498 | 84,498 |
| NORSK HYDRO AS SPNRD ADR | 194,743 | 194,743 |
| NOVARTIS ADR | 157,883 | 157,883 |
| OMV AG ADR | 84,501 | 84,501 |
| OPEN TEXT CORP COM | 83,327 | 83,327 |
| ORIX CORPORATION SP ADR | 336,485 | 336,485 |
| PANDORA A /S ADR | 237,120 | 237,120 |
| PLAYTIKA HLDG CORP | 47,254 | 47,254 |
| RANDSTAD NV | 86,649 | 86,649 |
| RED ELECTRICA CORP UNSPN ADR | 143,270 | 143,270 |
| RENESAS ELECTRONICS CORP ADR REPSTG 1/2 COM SHS | 122,252 | 122,252 |
| REPSOL YPF S A SPND ADR | 74,229 | 74,229 |
| RIO TINTO PLC SPNSRD ADR | 269,969 | 269,969 |
| ROCHE HLDG LTD SPN ADR | 478,236 | 478,236 |
| ROYAL DUTCH SHELL PLC SPONS ADR A | 223,250 | 223,250 |
| SANDVIK AB ADR | 220,302 | 220,302 |
| SANOFI ADR | 185,520 | 185,520 |
| SAP SE SHS | 289,888 | 289,888 |
| SCHNEIDER ELEC SE ADR | 176,367 | 176,367 |
| SOFTBANK CORP-UNSP ADR | 162,776 | 162,776 |
| SONIC HEALTHCARE LTD SHS ADR | 165,374 | 165,374 |
| SONOVA HOLD AG UNSPOND ADR | 93,282 | 93,282 |
| SONY GROUP CORP | 146,877 | 146,877 |
| TOKYO ELECTRON LTD SHS | 79,577 | 79,577 |
| TOTALENERGIES SE | 77,454 | 77,454 |
| UNILEVER PLC NEW ADR | 205,747 | 205,747 |
| UNTD OVERSEAS BK SPN ADR | 106,052 | 106,052 |
| VIVENDI SE ADR UNSP | 101,909 | 101,909 |
| WH GROUP LTD SHS ADR | 119,724 | 119,724 |
| WOLTERS KLUWR NV SPN ADR | 446,215 | 446,215 |
| WOORI FINL GROUP INC. SHS ADR | 117,178 | 117,178 |
| YAMAHA MOTOR CO LTD SHS | 65,459 | 65,459 |
| ZOZO,INC. SHS ADR | 101,206 | 101,206 |
| 3I GROUP PLC SHS | 361,330 | 361,330 |
| ADOBE INC | 932,814 | 932,814 |
| ADVANCED MICRO DEVICES INC | 612,295 | 612,295 |
| ALIGN TECHNOLOGY INC | 580,290 | 580,290 |
| ALPHABET INC CLASS A | 1,399,270 | 1,399,270 |
| AMAZON.COM INC. | 1,033,645 | 1,033,645 |
| APPLE INC | 1,386,822 | 1,386,822 |
| ASML HLDG NV NY REGISTRY SHS NEW 2012 | 788,179 | 788,179 |
| BLOCK INC | 290,718 | 290,718 |
| CHARLES RIVER LABORATORIES INTL INC | 454,020 | 454,020 |
| DECKERS OUTDOOR CORPORATION | 573,275 | 573,275 |
| DOCUSIGN INC | 178,203 | 178,203 |
| EPAM SYSTEMS INC | 818,851 | 818,851 |
| GARMIN LTD. | 515,403 | 515,403 |
| GARTNER INC | 636,880 | 636,880 |
| GENERAC HLDGS INC | 641,550 | 641,550 |
| HORIZON PHARMA PLC | 508,088 | 508,088 |
| INTUITIVE SURGICAL INC | 973,344 | 973,344 |
| KKR & CO INC CLASS A | 767,350 | 767,350 |
| LILLY ELI & CO | 426,760 | 426,760 |
| META PLATFORMS INC CL A | 585,249 | 585,249 |
| MICROSOFT CORPORATION | 1,575,659 | 1,575,659 |
| MONOLITHIC PWR SYS INC | 897,861 | 897,861 |
| NIKE INC CLASS B | 399,175 | 399,175 |
| NVIDIA CORPORATION | 1,276,437 | 1,276,437 |
| PAYPAL HLDGS INC | 753,377 | 753,377 |
| QUALCOMM INC. | 886,920 | 886,920 |
| QUANTA SERVICES | 765,929 | 765,929 |
| RH | 374,086 | 374,086 |
| ROKU INC CL A | 463,246 | 463,246 |
| SHOPIFY INC CL A | 578,504 | 578,504 |
| THE TRADE DESK INC CLASS A | 626,359 | 626,359 |
| THERMO FISHER SCIENTIFIC INC | 770,662 | 770,662 |
| VANGUARD S&P 500 ETF | 35,740,951 | 35,740,951 |
| VANGUARD SMALL-CAP INDEX ETF | 911,317 | 911,317 |
| ISHARES MSCI EAFE SMALL-CAP ETF | 5,677,110 | 5,677,110 |
| VANGUARD FTSE DEVELOPED MARKETS INDEX ETF | 1,378,190 | 1,378,190 |
| VANGUARD FTSE EMERGING MARKETS INDEX ETF | 7,583,695 | 7,583,695 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| ANGEL OAK MULTI STRATEGY INCOME FUND CL INSTL | FMV | 5,589,810 | 5,589,810 |
| HARTFORD FLOATING RATE FUND CL I | FMV | 5,676,558 | 5,676,558 |
| INVESCO DEVELOPING MARKETS FD CL Y | FMV | 6,815,890 | 6,815,890 |
| BLACKROCK Q-BLK REAL ASSETS II | FMV | 237,700 | 237,700 |
| DARWIN VENTURE CAPITAL FOF LP | FMV | 409,283 | 409,283 |
| PARK STREET CAPITAL PE VI LP | FMV | 20,334 | 20,334 |
| PARK STREET CAPITAL PE VIII LP | FMV | 1,058,041 | 1,058,041 |
| PORTFOLIO ADVISORS PE FUND IV | FMV | 311,776 | 311,776 |
| QUANTUM ENERGY PARTNERS IV, LP | FMV | 6,393 | 6,393 |
| STARK SHEPHERD - CONSOLIDATED | FMV | 2,723 | 2,723 |
| NEWBURY ENERGY PARTNERS LP | FMV | 103,657 | 103,657 |
| PARK STREET NRF II, LP | FMV | 59,254 | 59,254 |
| WILSHIRE US PMF IV LP | FMV | 2,008 | 2,008 |
| WILSHIRE NON-US PMF IV LP | FMV | 506 | 506 |
| STIEVEN'S FIN OFFSHORE FUND | FMV | 7,380,419 | 7,380,419 |
| BLACKSTONE REAL ESTATE | FMV | 6,117,857 | 6,117,857 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEES | 63,971 | 6,397 | 57,574 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| INTEREST RECEIVABLE | 463,287 | 497,914 | 497,914 |
| INSURANCE PROCEEDS RECEIVABLE | 22,792 | 22,792 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| OFFICE SUPPLIES | 1,128 | 1,128 | 0 | |
| INSURANCE | 22,418 | 22,418 | 0 | |
| COMPUTER FEES | 3,885 | 389 | 3,496 | |
| DUES | 4,499 | 0 | 4,499 | |
| MEETINGS | 4,802 | 0 | 4,802 | |
| POSTAGE | 222 | 22 | 200 | |
| REPAIRS & MAINTENANCE | 340 | 340 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| K-1 INCOME - NON-UBI | 153,969 | ||
| INSURANCE PROCEEDS | 52,945 | 52,945 |
| Description | Amount |
|---|---|
| UNREALIZED GAINS/LOSSES ON INVESTMENTS | 17,925,907 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| BROKERAGE FEES | 1,206,184 | 1,206,184 | 0 | |
| OTHER FEES | 45,321 | 4,532 | 40,789 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| EXCISE TAXES | 360,726 | 0 | 0 |