| 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- | 898,326 | 868,410 |
| 256210105 DODGE & COX INCOME F | 3,312,216 | 3,168,447 |
| 74256W485 PRINCIPAL PREFERRED | 680,014 | 657,663 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| 001317205 AIA GROUP LTD-SP ADR | 10,156 | 31,380 |
| 003021714 ABERDEEN EMERG MARKE | 333,464 | 411,105 |
| 0075W0759 EDGEWOOD GROWTH INST | 409,635 | 1,463,853 |
| 009126202 AIR LIQUIDE - ADR | 5,541 | 11,082 |
| 049255706 ATLAS COPCO AB ADR | 10,617 | 31,970 |
| 05946K101 BANCO BILBAO VIZCAYA | 15,084 | 13,514 |
| 136375102 CANADIAN NATL RR CO | 3,276 | 12,743 |
| 23304Y100 DBS GROUP HOLDINGS L | 13,396 | 34,093 |
| 237545108 DASSAULT SYSTEMES S. | 4,086 | 27,866 |
| 307305102 FANUC CORPORATION AD | 2,904 | 7,090 |
| 45104G104 ICICI BANK LTD. - AD | 7,124 | 18,788 |
| 465562106 ITAU UNIBANCO H-SPON | ||
| 502117203 L'OREAL - ADR | 14,284 | 34,620 |
| 641069406 NESTLE S.A. REGISTER | 8,897 | 23,548 |
| 771195104 ROCHE HOLDINGS LTD - | 14,075 | 30,486 |
| 803054204 SAP SE ADR | 10,677 | 22,969 |
| 83569C102 SONOVA HOLDIN-UNSPON | 2,648 | 14,075 |
| 87184P109 SYSMEX CORP-UNSPON A | 2,596 | 10,024 |
| 874039100 TAIWAN SEMICONDUCTOR | 1,961 | 28,776 |
| 904767704 UNILEVER PLC - ADR | ||
| 35952Q106 FUCHS PETROLUB SE-PR | ||
| 464287705 ISHARES S&P MID-CAP | 597,503 | 1,026,888 |
| 87155N109 SYMRISE AG ADR | 6,890 | 15,324 |
| 00770G847 JOHCM INTERNATIONAL | ||
| 015393101 ALFA LAVAL AB-UNSPON | 5,689 | 12,931 |
| 780259107 ROYAL DUTCH SHELL PL | ||
| 879360105 TELEDYNE TECHNOLOGIE | 3,062 | 17,015 |
| 501173207 KUBOTA LIMITED - ADR | 11,352 | 14,076 |
| 74925K367 ABBEY CAP FUTURES ST | 767,618 | 856,334 |
| M22465104 CHECK POINT SOFTWARE | 15,904 | 27,514 |
| 256206103 DODGE & COX INT'L ST | 768,849 | 845,069 |
| 40415F101 HDFC BANK LTD. - ADR | 7,520 | 10,487 |
| 45662N103 INFINEON TECHNOLOGIE | 10,761 | 26,599 |
| 670108109 NOVOZYMES A/S UNSPON | 7,620 | 10,084 |
| 02319V103 AMBEV SA-SPN ADR | 11,757 | 11,163 |
| 171269103 CHUGAI PHARMACEUTIC- | 8,823 | 13,994 |
| 25243Q205 DIAGEO PLC - ADR | 10,036 | 13,204 |
| 29429L105 EPIROC AB-UNSP ADR | 7,961 | 18,484 |
| 344419106 FOMENTO ECONOMICO ME | 15,568 | 15,327 |
| 500458401 KOMATSU LIMITED - AD | 9,078 | 11,510 |
| 54338V101 LONZA GROUP AG ADR | 7,997 | 21,892 |
| 69343P105 LUKOIL PJSC-SPON ADR | 18,374 | |
| 72341E304 PING AN INSURANCE-AD | 11,721 | 7,870 |
| 88032Q109 TENCENT HOLDINGS LTD | 26,120 | 24,510 |
| 90460M204 UNI CHARM CORPORATIO | 16,244 | 18,105 |
| G5494J103 LINDE PLC | 6,074 | 12,458 |
| N97284108 YANDEX NV-A | 3,881 | |
| 00143W859 INV OPP DEVELOP MRKT | 327,881 | 365,813 |
| 00783V104 ADYEN NV-UNSPON ADR | 10,572 | 27,836 |
| 018820100 ALLIANZ SE - UNSP AD | 18,274 | 32,174 |
| 038336103 APTARGROUP INC COM | 5,691 | 5,875 |
| 04316A108 ARTISAN PARTNERS ASS | 5,927 | 8,696 |
| 045327103 ASPEN TECHNOLOGY INC | 18,054 | 25,798 |
| 049904105 ATRION CORP | 9,646 | 7,843 |
| 05278C107 AUTOHOME INC-ADR | 27,965 | 8,515 |
| 257651109 DONALDSON CO INC | 6,632 | 6,647 |
| 262037104 DRIL-QUIP INC COM | 8,657 | 7,881 |
| 303075105 FACTSET RESH SYS INC | 12,676 | 19,971 |
| 32051X108 FIRST HAWAIIAN INC | 20,639 | 23,260 |
| 384109104 GRACO INC | 15,862 | 21,892 |
| 426281101 HENRY JACK & ASSOC I | 7,572 | 11,232 |
| 464285105 ISHARES GOLD TRUST E | ||
| 562750109 MANHATTAN ASSOCIATES | 9,314 | 22,610 |
| 60786M105 MOELIS & CO | 9,866 | 13,616 |
| 65479L108 NITORI HLDGS CO LTD- | 12,552 | 9,659 |
| 741511109 PRICESMART INC | 7,187 | 9,780 |
| 74164M108 PRIMERICA INC | 20,838 | 22,575 |
| 749607107 RLI CORP COM | 9,358 | 12,501 |
| 75524B104 RBC BEARINGS INC | 11,926 | 15,704 |
| 76657Y101 RIGHTMOVE PLC-UNSP A | 18,724 | 21,416 |
| 767204100 RIO TINTO PLC - ADR | 13,628 | 21,628 |
| 779556406 T ROWE PR MID CAP GR | 703,836 | 1,201,807 |
| 80687P106 SCHNEIDER ELECTRIC S | 15,498 | 28,004 |
| 818800104 SGS SA ADR | 7,945 | 8,821 |
| 824667109 SHIONOGI & CO LTD-UN | 12,220 | 12,914 |
| 829073105 SIMPSON MFG INC COM | 16,151 | 23,880 |
| 891092108 TORO CO | 15,041 | 17,782 |
| 001055102 AFLAC INC | ||
| 005098108 ACUSHNET HOLDINGS CO | 13,720 | 19,647 |
| 01609W102 ALIBABA GROUP HOLDIN | ||
| 02209S103 ALTRIA GROUP INC | ||
| 03073E105 AMERISOURCEBERGEN CO | 49,969 | 74,106 |
| 031162100 AMGEN INC | 52,655 | 51,508 |
| 053015103 AUTOMATIC DATA PROCE | 21,102 | 34,814 |
| 088606108 BHP GROUP LTD-SPON A | 32,554 | 32,059 |
| 126650100 CVS HEALTH CORPORATI | 49,215 | 77,223 |
| 166764100 CHEVRON CORP | 35,156 | 62,201 |
| 191216100 COCA COLA CO | 40,880 | 51,770 |
| 205887102 CONAGRA BRANDS INC | 46,068 | 42,231 |
| 256677105 DOLLAR GENERAL CORP | 66,253 | 76,139 |
| 29084Q100 EMCOR GROUP INC COM | 15,370 | 25,454 |
| 302941109 FTI CONSULTING INC C | 22,244 | 33,960 |
| 37940X102 GLOBAL PMTS INC W/I | 69,998 | 55,557 |
| 384802104 GRAINGER W W INC | 40,436 | 60,863 |
| 478160104 JOHNSON & JOHNSON | 54,195 | 64,689 |
| 501044101 KROGER CO | 23,278 | 38,151 |
| 548661107 LOWES COS INC | 45,264 | 62,275 |
| 571748102 MARSH & MCLENNAN COS | 38,488 | 57,261 |
| 58933Y105 MERCK & CO INC NEW | ||
| 595017104 MICROCHIP TECHNOLOGY | 45,694 | 61,089 |
| 718172109 PHILIP MORRIS INTERN | 35,068 | 42,649 |
| 778296103 ROSS STORES INC | 58,034 | 58,437 |
| 832696405 JM SMUCKER CO | 27,971 | 34,800 |
| 854502101 STANLEY BLACK & DECK | 40,875 | 36,905 |
| 857477103 STATE STREET CORP | 42,105 | 58,196 |
| 871829107 SYSCO CORP | 59,954 | 74,873 |
| 883556102 THERMO FISHER SCIENT | 40,860 | 50,796 |
| 902973304 US BANCORP | 47,082 | 64,737 |
| 91324P102 UNITEDHEALTH GROUP I | 47,047 | 79,555 |
| 942749102 WATTS WATER TECHNOLO | 13,417 | 19,263 |
| G5960L103 MEDTRONIC PLC | 50,890 | 52,036 |
| H01301128 ALCON INC | 11,816 | 14,835 |
| 46653M849 JOHCM INTERNATIONAL | 669,938 | 897,683 |
| 50189K103 LCI INDUSTRIES | 12,209 | 7,993 |
| 515098101 LANDSTAR SYS INC COM | 23,266 | 20,513 |
| 609207105 MONDELEZ INTERNATION | 36,987 | 38,610 |
| 715684106 PT TELEKOMUNIKASI IN | 10,496 | 15,048 |
| 780259305 ROYAL DUTCH SHELL PL | 11,711 | 16,424 |
| 12591J207 CSPC PHARMACEUTICAL | 15,184 | 14,142 |
| 185123106 CLEARWATER ANALYTICS | 7,567 | 6,111 |
| 19247U106 COHEN & STEERS INSTL | 650,000 | 648,429 |
| 221006109 CORVEL CORP | 22,323 | 20,044 |
| 26876F102 ENN ENERGY HOLDINGS- | 15,452 | 13,552 |
| 40523H106 HAIER SMART HOME CO | 23,756 | 21,087 |
| 464285204 ISHARES GOLD TRUST E | 568,136 | 632,224 |
| 911312106 UNITED PARCEL SERVIC | 54,321 | 57,904 |
| G97822103 PERRIGO CO PLC | 41,751 | 36,854 |
| G98239109 XP INC - CLASS A | 11,100 | 10,655 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| BALLARD SPAHR - LEGAL SVCS | 25,678 | 25,678 |
| Description | Amount |
|---|---|
| MUTUAL FUND TAX EFFECTIVE DATE AFTER TYE | 4,312 |
| MUTUTAL FUNDS ADJUSTMENT | 20 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LIABILITY INSURANCE PREMIUM | 678 | 0 | 678 | |
| ADR FEES | 830 | 830 | 0 |
| Description | Amount |
|---|---|
| MUTUAL FUND TAX EFFECTIVE DATE BEFORE TYE | 3,918 |
| COST ADJUSTMENT | 509 |
| ROUNDING | 10 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| SUB ADVISER FEES | 13,137 | 13,137 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAXES | 3,270 | 3,270 | 0 | |
| FEDERAL ESTIMATES - PRINCIPAL | 9,165 | 0 | 0 | |
| FOREIGN TAXES ON QUALIFIED FOR | 3,873 | 3,873 | 0 | |
| FOREIGN TAXES ON NONQUALIFIED | 194 | 194 | 0 |