| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| TAX PREPARATION FEE (NON-ALLOC | 500 | 500 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ALPHABET INC CL C | 16,622 | 23,232 |
| AMAZON.COM INC | 13,290 | 8,399 |
| BAXTER INTL INC | ||
| BERKSHIRE HATHAWAY INC-CL B | 17,915 | 24,851 |
| BOOKING HOLDINGS INC COM | 9,462 | 10,397 |
| BROWN-FORMAN CORP CLASS B | ||
| CELANESE CORP COM | 10,538 | 10,515 |
| COLGATE PALMOLIVE CO | ||
| COMCAST CORP CL A | ||
| COPART INC COM | 8,265 | 11,315 |
| COSTCO WHOLESALE CORP | 7,778 | 14,021 |
| DIAGEO PLC- SPONSORED ADR | 6,274 | 8,208 |
| DOLLAR GENERAL CORP COM | 6,965 | 11,250 |
| FLEETCOR TECHNOLOGIES INC | ||
| ARTHUR J GALLAGHER & CO | 8,743 | 18,119 |
| KLA CORPORATION | 6,939 | 13,367 |
| MASTERCARD INCORPORATED | 19,297 | 23,166 |
| NESTLE S A SPONS ADR | 6,204 | 6,782 |
| NIKE INC CL B | 6,690 | 9,653 |
| ORACLE CORP | 7,265 | 10,877 |
| PROGRESSIVE CORP OHIO | 8,708 | 15,726 |
| HENRY SCHEIN INC | ||
| AO SMITH CORP | 6,979 | 8,929 |
| STARBUCKS CORP | ||
| THERMO FISHER SCIENTIFIC INC | 10,021 | 12,885 |
| VISA INC- CL.A SHARES | ||
| WASTE MANAGEMENT INC | 9,663 | 14,088 |
| ZOETIS INC | 12,256 | 13,564 |
| ALLEGION PLC | ||
| LINDE PLC | 12,146 | 19,179 |
| PERRIGO CO PLC | ||
| ALCON INC | 10,672 | 13,778 |
| SHERWIN WILLIAMS CO | ||
| S&P GLOBAL INC COM STK | 9,307 | 9,526 |
| ABBOTT LABORATORIES | 10,969 | 9,682 |
| GRACO INC COMMON STOCK | 10,046 | 10,146 |
| AKRE FOCUS FUND | 92,110 | 218,371 |
| SIGNATURE BANK COM STK | 13,359 | 6,417 |
| ADOBE INC | 9,844 | 8,623 |
| MICROSOFT CORP | 19,485 | 16,584 |
| TEXAS INSTRUMENTS INC | 9,339 | 10,106 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| BBH INTERNATIONAL EQ | AT COST | 222,110 | 258,139 |
| BBH LIMITED DURATION FD CL N | AT COST | 103,384 | 103,592 |
| LONGLEAF PARTNERS SMALL CAP FD | |||
| GQG PART EMERGING MKTS EQ INST | AT COST | 55,192 | 64,424 |
| AKRE FOCUS FD - SUPRA INST | |||
| ALPS SER - CLARKSTON PRTNRS FD | |||
| BBH INCOME FUND-I | AT COST | 99,495 | 87,444 |
| BBH SEL SER-LRG | |||
| CLARKSTON FOUNDERS FUND | AT COST | 85,996 | 93,885 |
| CLARKSTON SERIES TRUST CLARKST | AT COST | 74,901 | 126,583 |
| BBH PARTNER FUND - SMALL CAP | AT COST | 181,152 | 117,307 |
| GQG PART QLTY EQTY-INST | AT COST | 91,700 | 96,787 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| OTHER EXPENSE (NON-DEDUCTIBLE | 2 | 0 | 0 |
| Description | Amount |
|---|---|
| MUTUAL FUND TIMING DIFFERENCES | 38 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMNT MNGMNT FEES (NON-DED | 5,298 | 5,298 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FEDERAL TAX PAYMENT - PRIOR YE | 2,055 | 0 | 0 | |
| FEDERAL ESTIMATES - PRINCIPAL | 4,215 | 0 | 0 | |
| FOREIGN TAXES ON QUALIFIED FOR | 382 | 0 | 0 | |
| FOREIGN TAXES ON NONQUALIFIED | 352 | 0 | 0 |