| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING AND BOOKKEEPING FEES | 9,535 | 8,581 | 954 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| GOLDMAN SACHS GRP INC NOTES MEDIUM TERM NOTES CLLB | 94,338 | 89,095 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ALLIANCE BERNSTEIN HLDG LP LD PARTNERSHIP INTERESTS | 27,376 | 24,918 |
| ALTRIA GROUP INC | 97,715 | 68,565 |
| AMERICAN ELECTRIC POWER INC | 95,883 | 123,435 |
| AMERICAN EXPRESS COMPANY | 69,059 | 124,553 |
| AMERICAN STATES WTR CO | 53,868 | 111,060 |
| AMERIPRISE FINANCIAL INC | 69,825 | 161,912 |
| ANNALY CAPITAL MANAGEMENT INC REIT | 10,910 | 5,270 |
| AT&T INC | 58,678 | 36,820 |
| BERKSHIRE HATHAWAY INC SERIES B NEW | 113,463 | 185,340 |
| BLACKROCK INC | 27,847 | 49,604 |
| BLACKSTONE MORTGAGE TRUST INC | 123,258 | 84,680 |
| BP PLC SPONS ADR | 54,768 | 55,888 |
| CELANESE CORPORATION SERIES A | 55,071 | 62,366 |
| CHEVRON CORPORATION | 67,322 | 89,745 |
| CISCO SYSTEMS INC | 49,240 | 47,640 |
| CITIGROUP INC NEW | 61,540 | 45,230 |
| CMS ENERGY INC | 66,195 | 94,995 |
| COCA COLA COMPANY | 45,407 | 63,610 |
| CONOCOPHILLIPS COP | 64,718 | 118,000 |
| CONSOLIDATED EDISION INC | 72,371 | 90,545 |
| CSX CORP | 41,008 | 77,450 |
| CUMMINS INC | 50,441 | 79,956 |
| CVS HEALTH CORPORATION | 53,288 | 69,893 |
| DEERE & CO | 76,170 | 214,380 |
| DEVON ENERGY CORP | 44,630 | 61,510 |
| DIAGEO PLC SPONSORED ADR NEW | 23,313 | 36,529 |
| DISNEY WALT COMPANY | 55,520 | 43,440 |
| DOMINION ENERGY INC | 76,250 | 61,320 |
| DOW INC | 89,503 | 75,585 |
| DUKE ENERGY CORP COM | 24,629 | 21,628 |
| EATON CORP PLC | 78,316 | 156,950 |
| ENBRIDGE INC | 40,511 | 38,474 |
| EVERGY INC | 94,288 | 112,078 |
| EVERSOURCE ENERGY | 60,784 | 83,840 |
| EXXON MOBILE XOM | 118,311 | 165,450 |
| FIFTH THIRD BANCORP | 27,212 | 32,810 |
| FIRSTENERGY CORP | 94,680 | 125,820 |
| GENERAL ELECTRIC COMPANY | 60,380 | 20,948 |
| GENERAL MILLS INC | 58,780 | 83,850 |
| GILEAD SCIENCES INC | 74,165 | 85,850 |
| GOLDMAN SACHS GROUP INC | 55,134 | 82,411 |
| HAWAIIAN ELEC INDS INC | 33,440 | 41,850 |
| HSBC HOLDINGS PLC-SPON ADR | 28,588 | 21,812 |
| I SHARES SILVER TR | 16,759 | 22,020 |
| INTEL CORP | 97,417 | 52,860 |
| ISHARES ETF PFD & INCOME SECS | 57,600 | 45,795 |
| ISHARES ETF RUSSELL 2000 GROWTH IWO | 50,542 | 66,501 |
| ISHARES IBOXX & ETF INVESTMENT GRADE CORP BD | 55,449 | 42,172 |
| ISHARES MSCI ETF EMERGING MARKETS | 61,882 | 60,792 |
| JOHNSON & JOHNSON | 28,368 | 35,330 |
| JPMORGAN CHASE & CO | 87,116 | 113,985 |
| MANULIFE FINL CORP | 28,272 | 27,652 |
| MEDTRONIC PLC | 98,484 | 93,264 |
| MERCK & CO INC NEW | 24,829 | 41,606 |
| MICROSOFT CORP | 81,250 | 239,820 |
| MONDELEZ INTL INC | 41,805 | 66,650 |
| NESTLE S A REG ADR | 38,295 | 57,670 |
| NEW JERSEY RES CORP | 88,221 | 110,405 |
| NEXTERA ENERGY INC | 52,115 | 193,952 |
| NORTHROP GRUMMAN CORP NEW | 184,448 | 409,208 |
| ORGANON & CO OGN | 871 | 1,033 |
| PFIZER INCORPORATED | 45,108 | 51,240 |
| PROCTER & GAMBLE CO | 131,779 | 227,340 |
| PUBLIC SVC ENTERPRISE GROUP INC | 67,359 | 91,905 |
| ROYAL DUTCH SHELL PLC ADR CL A | 70,977 | 74,035 |
| SCHLUMBERGER LTD | 105,945 | 106,920 |
| SOUTHERN COMPANY/THE | 100,602 | 142,820 |
| SPDR BLOOMBERG ETF BARCLAYS CONVERTIBLE SECURITIES ETF | 95,540 | 128,680 |
| SPDR GOLD TRUST ETF | 59,530 | 84,820 |
| SUNCOR ENERGY INC NEW | 58,750 | 59,652 |
| TARGET CORP | 72,864 | 149,040 |
| THERMO FISHER SCIENTIFIC INC | 37,558 | 129,412 |
| TJX COS INC NEW | 24,319 | 49,352 |
| TOTALENERGIES SE | 52,028 | 62,080 |
| UNION PACIFIC CORP | 68,268 | 128,383 |
| UNITED PARCEL SERVICE-B | 43,930 | 69,536 |
| UNITEDHEALTH GROUP INC | 33,588 | 106,036 |
| VANGUARD INDEX FDS ETF REAL ESTATE INDEX FD VNQ | 46,833 | 41,240 |
| VANGUARD INTERMEDIATE ETF TERM CORP BOND | 90,445 | 77,510 |
| VANGUARD INTL EQUITY ETF INDEX FDS FTSE EMERGING MKTS ETF | 61,638 | 61,121 |
| VERIZON COMMUNICATIONS COM | 106,229 | 78,800 |
| VIAD CORPORATION (NEW) | 6,032 | 3,098 |
| VIATRIS INC | 0 | 1,380 |
| WARNER BROS DISCOVERY INC SER A WBD | 17,842 | 4,579 |
| WEC ENERGY GROUP INC | 59,832 | 75,008 |
| XCEL ENERGY INC | 68,253 | 103,062 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| AAM GNMA ADVANTAGE INCOME PORT SER 14 CASH | AT COST | 9,237 | 5,399 |
| AB CAP FD INC RELATIVE VALUE FD | AT COST | 90,740 | 91,982 |
| ADVISORS ASSET MGMT GNMA ADVANTAGE ICOME PORT SER 11 CASH | AT COST | 41,719 | 22,830 |
| AQUILA THREE PEAKS HIGH INCOME CLASS A | AT COST | 196,296 | 179,371 |
| AQUILA THREE PEAKS OPPORTUNITY GROWTH FUND CLASS A | AT COST | 163,355 | 121,986 |
| AT&T INC 5% CALL 12/12/24 @ 25 | AT COST | 25,167 | 16,515 |
| BANK AMER CORP 5.375% PFD KK NON CUM PERP MTY | AT COST | 53,839 | 41,880 |
| BLACKROCK FUNDS GLOBAL LONG/SHORT CR FD INSTITUTIONAL | AT COST | 250,119 | 209,854 |
| BNY MELLON INTL BOND | AT COST | 59,014 | 44,138 |
| BOND FUND AMERICA CL A | AT COST | 75,014 | 60,602 |
| CALAMOS INVT TR NEW CONVERTIBLE FD CL A | AT COST | 73,580 | 75,392 |
| CALAMOS STRATEGIC TOTAL RETURN FUND | AT COST | 187,856 | 201,300 |
| CALVERT GLOBAL WATER FUND CL A | AT COST | 104,898 | 136,748 |
| COHEN & STEERS PFD SECS & INCOME FD INC CLASS A | AT COST | 240,574 | 201,879 |
| DAVIS REAL ESTATE FUND CL A | AT COST | 164,963 | 161,272 |
| DIAMOND HILL LONG SHRT LONG-SHORT FUND CL A | AT COST | 66,565 | 61,375 |
| DUKE ENERGY 5.625% PFD JR SUB NOTES 09/15/2078 | AT COST | 51,956 | 45,560 |
| EATON VANCE ADV SR FLTNG RT ADVANTAGE FUND CLASS A | AT COST | 304,615 | 272,877 |
| EATON VANCE UNDS TAX MANAGED DIVERSIFIED EQUITY | AT COST | 22,180 | 21,720 |
| FIRST TRUST CORP HIGH INCOME PORT SER 23 CASH | AT COST | 93,644 | 39,555 |
| FIRST TRUST INVESTMENT GRADE MUTLI-ASSET INCM PRT LT 25 C | AT COST | 90,819 | 79,858 |
| GNMA II PASS THRU POOL 1884 | AT COST | 124 | 12 |
| GNMA II PASS THRU POOL 1922 | AT COST | 27 | 9 |
| GNMA II PASS THRU POOL 3458 | AT COST | 1,284 | 647 |
| GNMA II PASS THRU POOL 381322 | AT COST | 720 | 399 |
| GUGGENHEIM FDS TR MACRO OPPORTUNITIES FD CS A | AT COST | 100,104 | 86,799 |
| HARTFORD MUT FDS INC | AT COST | 30,007 | 27,118 |
| HUNTINGTON 4.5% PFD BANCSHARES NON CUM PERP | AT COST | 49,906 | 31,800 |
| INVESCO ENERGY PORTFOLIO 2019-2 | AT COST | 7,066 | 10,230 |
| JOHN HANCOCK REGIONAL BANK CLASS A | AT COST | 168,776 | 168,986 |
| JPMORGAN DIVERSIFIED FUND CL A JDVAX | AT COST | 112,047 | 87,489 |
| KAYNE ANDERSON ENERGY DEVELOPMENT CO | AT COST | 40,487 | 16,444 |
| LEGG MASON PARTNERS EQUITY TRUST BRANDYWINE GLOBAL CORP CR FD | AT COST | 50,007 | 41,575 |
| LORD ABBETT BD-DEB A | AT COST | 256,239 | 216,778 |
| LORD ABBETT INVT TR FLOATING RATE FD CLASS A | AT COST | 130,007 | 109,613 |
| LORD ABBETT INVT TR INFLATION FOCUSED FD CLASS A | AT COST | 25,007 | 23,153 |
| MAINSTAY MACKAY CONVERTIBLE FUND | AT COST | 40,007 | 36,215 |
| MORGAN STANLEY 6.375% PFD SER I FIX/FLTG PERP MTY CALL 10/15/ | AT COST | 50,040 | 43,668 |
| NEXTERA ENERGY 5.65% | AT COST | 40,371 | 0 |
| NUVEEN INVT TR V NWQ FLEXIBLE INCOME FD CLASS A | AT COST | 100,007 | 79,491 |
| PGIM FLOATING RATE INCOME CL A | AT COST | 73,783 | 64,328 |
| PGIM HIGH YIELD CL A | AT COST | 282,064 | 229,884 |
| PIMCO FUNDS PIMCO INCOME FD CLASS A | AT COST | 71,065 | 80,545 |
| PIMCO INTERNATIONAL BOND FUND US DOLLAR HEDGED INSTL | AT COST | 110,973 | 72,689 |
| PIMCO REAL ESTATE REAL RETURN STRATEGY CL A | AT COST | 233,716 | 144,503 |
| PIONEER FUND CLASS A SHARES | AT COST | 219,138 | 205,046 |
| PRINCIPAL INV FUND REAL ESTATE SECS FD CL INSTL | AT COST | 202,508 | 212,859 |
| PRINCIPAL INVS FD REAL ESTATE SECS FD | AT COST | 75,014 | 64,601 |
| PRUDENTIAL 4.125% PFD JR SUB NOTES DUE 9/1/60 | AT COST | 81,838 | 57,173 |
| PUTNAM FDS TR FLTG RATE INCOME FD CLASS Y | AT COST | 118,970 | 107,834 |
| PUTNAM FLOATING RATE INCOME FD CL A | AT COST | 241,163 | 218,265 |
| PUTNAM FOCUSED EQUITY FD CL A | AT COST | 33,725 | 29,709 |
| RMB MENDON FINL LONG/SHORT FD CL A | AT COST | 193,624 | 113,067 |
| RYDEX SERIES FUNDS BIOTECHNOLOGY FD CL A | AT COST | 115,765 | 95,252 |
| TEMPLETON GLOBAL BOND FUND CL A | AT COST | 100,007 | 60,880 |
| VIRTUS FUNDS | AT COST | 71,843 | 54,273 |
| WEBSTER FINL CRP5.25%PFD NON-CUM PERP MTY SER F | AT COST | 26,959 | 18,930 |
| WESTERN ASSET FDS INC BD FD CLASS A | AT COST | 50,988 | 36,441 |
| WR BERKLEY CO 5.10% PFD SUB NOTES MTY 12/30/59 CALL 12/30/24 @ 25 | AT COST | 25,689 | 20,280 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEES | 16,201 | 1,620 | 14,581 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT EXPENSE | 99 | 99 | 0 | |
| OTHER DEDUCTIONS - FROM ALLIANCE BERNSTEIN HOLDINGS LP K-1 | 19 | 19 | 0 | |
| NON-DEDUCTIBLE EXPENSES | 427 | 0 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| ORDINARY INCOME FROM ALLIANCEBERNSTEIN HOLDING LP | 1,356 | 1,356 | 1,356 |
| Description | Amount |
|---|---|
| BOOK BASIS ADJUSTMENT | 35,401 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| CASH OVERDRAFT | 0 | 7,288 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAX WITHHELD | 3,988 | 3,988 | 0 | |
| FEDERAL EXCISE TAX | 12,922 | 0 | 0 |