Form990-PF

Department of the Treasury
Internal Revenue Service

Return of Private Foundation
or Section 4947(a)(1) Trust Treated as Private Foundation
right arrowDo not enter social security numbers on this form as it may be made public.
right arrowGo to www.irs.gov/Form990PF for instructions and the latest information.
OMB No. 1545-0047
2023
Open to Public Inspection
For calendar year 2023, or tax year beginning 01-01-2023 , and ending 12-31-2023
Name of foundation
THE GRASS FOUNDATION
 
Number and street (or P.O. box number if mail is not delivered to street address)CO PKFOD 500 MAMARONECK AVE 301
  Room/suite
City or town, state or province, country, and ZIP or foreign postal code
HARRISON, NY105281633
A Employer identification number

04-6049529
B Telephone number (see instructions)

(914) 381-8900
C right arrow
G Check all that apply:

D 1. Foreign organizations, check here............. right arrow
2. Foreign organizations meeting the 85%
test, check here and attach computation ... right arrow
E right arrow
H Check type of organization:
F right arrow
I Fair market value of all assets at end
of year (from Part II, col. (c),
line 16)right arrow$27,367,598J Accounting method:
 
(Part I, column (d) must be on cash basis.)
Part I Analysis of Revenue and Expenses (The total of amounts in columns (b), (c), and (d) may not necessarily equal the amounts in column (a) (see instructions).) (a) Revenue and
expenses per
books 		(b) Net investment
income 		(c) Adjusted net
income 		(d) Disbursements
for charitable
purposes
(cash basis only)
Revenue 1 Contributions, gifts, grants, etc., received (attach schedule)  
2 Check right arrow.............
3 Interest on savings and temporary cash investments 1,298 1,298  
4 Dividends and interest from securities... 294,282 496,940  
5a Gross rents............      
b Net rental income or (loss)  
6a Net gain or (loss) from sale of assets not on line 10 -165,119
b Gross sales price for all assets on line 6a 6,331,131
7 Capital gain net income (from Part IV, line 2)... 0
8 Net short-term capital gain.........  
9 Income modifications...........  
10a Gross sales less returns and allowances  
b Less: Cost of goods sold....  
c Gross profit or (loss) (attach schedule).....    
11 Other income (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
9,994 -351,430  
12 Total. Add lines 1 through 11........ 140,455 146,808  
Operating and Administrative Expenses 13 Compensation of officers, directors, trustees, etc. 0 0   0
14 Other employee salaries and wages......        
15 Pension plans, employee benefits.......        
16a Legal fees (attach schedule).........        
b Accounting fees (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
115,795 0   115,795
c Other professional fees (attach schedule).... Click to see attachment
List of Attached Documents:
// Content
124,193 98,372   25,821
17 Interest...............   24,612    
18 Taxes (attach schedule) (see instructions)... Click to see attachment
List of Attached Documents:
// Content
26,310 137   0
19 Depreciation (attach schedule) and depletion...      
20 Occupancy..............        
21 Travel, conferences, and meetings....... 48,679 0   48,679
22 Printing and publications..........        
23 Other expenses (attach schedule)....... Click to see attachment
List of Attached Documents:
// Content
18,200 120,664   17,990
24 Total operating and administrative expenses.
Add lines 13 through 23.......... 333,177 243,785   208,285
25 Contributions, gifts, grants paid....... 881,873 881,873
26 Total expenses and disbursements. Add lines 24 and 25 1,215,050 243,785   1,090,158
27 Subtract line 26 from line 12:
a Excess of revenue over expenses and disbursements -1,074,595
b Net investment income (if negative, enter -0-) 0
c Adjusted net income (if negative, enter -0-)...  
For Paperwork Reduction Act Notice, see instructions.
Cat. No. 11289X Form 990-PF (2023)
Form 990-PF (2023)
Page 2
Part II Balance Sheets Attached schedules and amounts in the description column
should be for end-of-year amounts only. (See instructions.) 		Beginning of year End of year
(a) Book Value (b) Book Value (c) Fair Market Value
Assets 1 Cash—non-interest-bearing.............      
2 Savings and temporary cash investments......... 477,680 1,499,393 1,499,393
3 Accounts receivable right arrow  
Less: allowance for doubtful accounts right arrow        
4 Pledges receivable right arrow  
Less: allowance for doubtful accounts right arrow        
5 Grants receivable.................      
6 Receivables due from officers, directors, trustees, and other
disqualified persons (attach schedule) (see instructions).....      
7 Other notes and loans receivable (attach schedule) right arrow104,615
Less: allowance for doubtful accounts right arrow0 134,615 Click to see attachment
List of Attached Documents:
// Content
104,615 		104,615
8 Inventories for sale or use..............      
9 Prepaid expenses and deferred charges..........      
10a Investments—U.S. and state government obligations (attach schedule) 0 Click to see attachment
List of Attached Documents:
// Content
930,592 		926,852
b Investments—corporate stock (attach schedule)....... 12,034,626 Click to see attachment
List of Attached Documents:
// Content
4,190,657 		5,062,556
c Investments—corporate bonds (attach schedule)....... 0 Click to see attachment
List of Attached Documents:
// Content
865,808 		862,086
11 Investments—land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
12 Investments—mortgage loans.............      
13 Investments—other (attach schedule).......... 14,299,710 Click to see attachment
List of Attached Documents:
// Content
18,401,484 		18,912,096
14 Land, buildings, and equipment: basis right arrow  
Less: accumulated depreciation (attach schedule) right arrow        
15 Other assets (describe right arrow)      
16 Total assets (to be completed by all filers—see the
instructions. Also, see page 1, item I) 26,946,631 25,992,549 27,367,598
Liabilities 17 Accounts payable and accrued expenses..........    
18 Grants payable.................    
19 Deferred revenue.................    
20 Loans from officers, directors, trustees, and other disqualified persons    
21 Mortgages and other notes payable (attach schedule)......    
22 Other liabilities (describe right arrow) Click to see attachment
List of Attached Documents:
// Content
0 		Click to see attachment
List of Attached Documents:
// Content
120,513
23 Total liabilities (add lines 17 through 22)......... 0 120,513
Net Assets or Fund Balances Foundations that follow FASB ASC 958, check here right arrow
and complete lines 24, 25, 29 and 30.
24 Net assets without donor restrictions........... 26,946,631 25,872,036
25 Net assets with donor restrictions............    
Foundations that do not follow FASB ASC 958, check here right arrow
and complete lines 26 through 30.
26 Capital stock, trust principal, or current funds........    
27 Paid-in or capital surplus, or land, bldg., and equipment fund    
28 Retained earnings, accumulated income, endowment, or other funds    
29 Total net assets or fund balances (see instructions)..... 26,946,631 25,872,036
30 Total liabilities and net assets/fund balances (see instructions). 26,946,631 25,992,549
Part III
Analysis of Changes in Net Assets or Fund Balances
1
Total net assets or fund balances at beginning of year—Part II, column (a), line 29 (must agree with end-of-year figure reported on prior year’s return) ...............
1
26,946,631
2
Enter amount from Part I, line 27a .....................
2
-1,074,595
3
Other increases not included in line 2 (itemize) right arrow
3
0
4
Add lines 1, 2, and 3 ..........................
4
25,872,036
5
Decreases not included in line 2 (itemize) right arrow
5
0
6
Total net assets or fund balances at end of year (line 4 minus line 5)—Part II, column (b), line 29 .
6
25,872,036
Form 990-PF (2023)
Form 990-PF (2023)
Page 3
Part IV
Capital Gains and Losses for Tax on Investment Income
(a) List and describe the kind(s) of property sold (e.g., real estate,
2-story brick warehouse; or common stock, 200 shs. MLC Co.)		 (b)
How acquired
P—Purchase
D—Donation 		(c)
Date acquired
(mo., day, yr.) 		(d)
Date sold
(mo., day, yr.)
1 a PUBLICLY TRADED SECURITIES P    
b THRU CFI MULTI-STRATEGY BOND FUND, LLC K-1 P    
c THRU CFI MULTI-STRATEGY EQUITY FUND LLC K-1 P    
d THRU COMMONFUND CAPITAL PARTNERS VII LP K-1 P    
e THRU COMMONFUND CAPITAL PARTNERS VIII LP K-1 P    
THRU COMMONFUND CAPITAL PARTNERS IX LP K-1 P    
CAPITAL GAINS DIVIDENDS P    
(e)
Gross sales price 		(f)
Depreciation allowed
(or allowable) 		(g)
Cost or other basis
plus expense of sale 		(h)
Gain or (loss)
(e) plus (f) minus (g)
a 6,330,088   6,496,250 -166,162
b       -11,176
c       35,022
d       27,252
e       2,711
      206
1,043     1,043
Complete only for assets showing gain in column (h) and owned by the foundation on 12/31/69 (l)
Gains (Col. (h) gain minus
col. (k), but not less than -0-) or
Losses (from col.(h))
(i)
F.M.V. as of 12/31/69 		(j)
Adjusted basis
as of 12/31/69 		(k)
Excess of col. (i)
over col. (j), if any
a       -166,162
b       -11,176
c       35,022
d       27,252
e       2,711
      206
      1,043
2 Capital gain net income or (net capital loss) Bracket If gain, also enter in Part I, line 7
If (loss), enter -0- in Part I, line 7		 Bracket 2 -111,104
3 Net short-term capital gain or (loss) as defined in sections 1222(5) and (6):
If gain, also enter in Part I, line 8, column (c) (see instructions). If (loss), enter -0-
in Part I, line 8 ................... 		Bracket 3  
Part V
Excise Tax Based on Investment Income (Section 4940(a), 4940(b), 4940(e), or 4948—see instructions)
1a Exempt operating foundations described in section 4940(d)(2), check here right arrow and enter “N/A" on line 1. Bracket for line 1a
Date of ruling or determination letter:   (attach copy of letter if necessary–see instructions) 1 0
b All other domestic foundations enter 1.39% (0.0139) of line 27b. Exempt foreign organizations enter 4% (0.04) of Part I, line 12, col. (b)
2 Tax under section 511 (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 2 0
3 Add lines 1 and 2........................... 3 0
4 Subtitle A (income) tax (domestic section 4947(a)(1) trusts and taxable foundations only. Others enter -0-) 4 0
5 Tax based on investment income. Subtract line 4 from line 3. If zero or less, enter -0- ..... 5 0
6 Credits/Payments:
a 2023 estimated tax payments and 2022 overpayment credited to 2023 6a 16,650
b Exempt foreign organizations—tax withheld at source...... 6b 0
c Tax paid with application for extension of time to file (Form 8868)... 6c 6,000
d Backup withholding erroneously withheld .......... 6d 0
7 Total credits and payments. Add lines 6a through 6d.............. 7 22,650
8 Enter any penalty for underpayment of estimated tax. Check here if Form 2220 is attached. 8 0
9 Tax due. If the total of lines 5 and 8 is more than line 7, enter amount owed.......right arrow 9  
10 Overpayment. If line 7 is more than the total of lines 5 and 8, enter the amount overpaid...right arrow 10 22,650
11 Enter the amount of line 10 to be: Credited to 2024 estimated taxright arrow22,650 Refundedright arrow 11 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 4
Part VI-A
Statements Regarding Activities
1a
During the tax year, did the foundation attempt to influence any national, state, or local legislation or did
Yes
No
it participate or intervene in any political campaign? ....................
1a
 
No
b
Did it spend more than $100 during the year (either directly or indirectly) for political purposes? See the instructions
for the definition.................................
1b
 
No
If the answer is "Yes" to 1a or 1b, attach a detailed description of the activities and copies of any materials
published or distributed by the foundation in connection with the activities.
c
Did the foundation file Form 1120-POL for this year?.....................
1c
 
No
d
Enter the amount (if any) of tax on political expenditures (section 4955) imposed during the year:
(1) On the foundation. right arrow$ 0(2) On foundation managers.right arrow$ 0
e
Enter the reimbursement (if any) paid by the foundation during the year for political expenditure tax imposed
on foundation managers.right arrow$ 0
2
Has the foundation engaged in any activities that have not previously been reported to the IRS?.......
2
 
No
If "Yes," attach a detailed description of the activities.
3
Has the foundation made any changes, not previously reported to the IRS, in its governing instrument, articles
of incorporation, or bylaws, or other similar instruments? If "Yes," attach a conformed copy of the changesClick to see attachment
List of Attached Documents:
// Content
....
3
Yes
 
4a
Did the foundation have unrelated business gross income of $1,000 or more during the year?.........
4a
Yes
 
b
If "Yes," has it filed a tax return on Form 990-T for this year?...................
4b
Yes
 
5
Was there a liquidation, termination, dissolution, or substantial contraction during the year?.........
5
 
No
If "Yes," attach the statement required by General Instruction T.
6
Are the requirements of section 508(e) (relating to sections 4941 through 4945) satisfied either:
round bullet By language in the governing instrument, or
round bullet By state legislation that effectively amends the governing instrument so that no mandatory directions
that conflict with the state law remain in the governing instrument? ................
6
Yes
 
7
Did the foundation have at least $5,000 in assets at any time during the year? If "Yes," complete Part II, col. (c),
and Part XIV..................................
7
Yes
 
8a
Enter the states to which the foundation reports or with which it is registered (see instructions)
right arrowMA
b
If the answer is "Yes" to line 7, has the foundation furnished a copy of Form 990-PF to the Attorney
General (or designate) of each state as required by General Instruction G? If "No," attach explanation .
8b
Yes
 
9
Is the foundation claiming status as a private operating foundation within the meaning of section 4942(j)(3)
or 4942(j)(5) for calendar year 2023 or the taxable year beginning in 2023? See the instructions for Part XIII.
If "Yes," complete Part XIII .............................
9
 
No
10
Did any persons become substantial contributors during the tax year? If "Yes," attach a schedule listing their names
and addresses. ...............................
10
 
No
11
At any time during the year, did the foundation, directly or indirectly, own a controlled entity within the
meaning of section 512(b)(13)? If "Yes," attach schedule. See instructions .............
11
 
No
12
Did the foundation make a distribution to a donor advised fund over which the foundation or a disqualified person had
advisory privileges? If "Yes," attach statement. See instructions.................
12
 
No
13
Did the foundation comply with the public inspection requirements for its annual returns and exemption application?
13
Yes
 
Website addressright arrowHTTPS://GRASSFOUNDATION.ORG/
14
The books are in care ofright arrowPKF O'CONNOR DAVIES Telephone no.right arrow (914) 381-8900

Located atright arrow500 MAMARONECK AVENUE SUITE 301HARRISONNY ZIP+4right arrow105281633
15
Section 4947(a)(1) nonexempt charitable trusts filing Form 990-PF in lieu of Form 1041 —check here .........right arrow
and enter the amount of tax-exempt interest received or accrued during the year ........right arrow
15
 
16 At any time during calendar year 2023, did the foundation have an interest in or a signature or other authority over YesNo
a bank, securities, or other financial account in a foreign country? .................
16   No
See the instructions for exceptions and filing requirements for FinCEN Form 114. If "Yes", enter the name of the foreign
country right arrow
Form 990-PF (2023)
Form 990-PF (2023)
Page 5
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required
File Form 4720 if any item is checked in the "Yes" column, unless an exception applies.
Yes
No
1a
During the year did the foundation (either directly or indirectly):
(1) Engage in the sale or exchange, or leasing of property with a disqualified person? ...........
1a(1)
 
No
(2) Borrow money from, lend money to, or otherwise extend credit to (or accept it from)
a disqualified person? ..............................
1a(2)
 
No
(3) Furnish goods, services, or facilities to (or accept them from) a disqualified person? ...........
1a(3)
Yes
 
(4) Pay compensation to, or pay or reimburse the expenses of, a disqualified person? ............
1a(4)
Yes
 
(5) Transfer any income or assets to a disqualified person (or make any of either available
for the benefit or use of a disqualified person)? ......................
1a(5)
 
No
(6) Agree to pay money or property to a government official? (Exception. Check "No"
if the foundation agreed to make a grant to or to employ the official for a period
after termination of government service, if terminating within 90 days.) ...............
1a(6)
 
No
b
If any answer is "Yes" to 1a(1)–(6), did any of the acts fail to qualify under the exceptions described in Regulations
section 53.4941(d)-3 or in a current notice regarding disaster assistance? See instructions ..........
1b
 
No
c
Organizations relying on a current notice regarding disaster assistance check here ........right arrow
d
Did the foundation engage in a prior year in any of the acts described in 1a, other than excepted acts,
that were not corrected before the first day of the tax year beginning in 2023? .............
1d
 
No
2
Taxes on failure to distribute income (section 4942) (does not apply for years the foundation was a private
operating foundation defined in section 4942(j)(3) or 4942(j)(5)):
a
At the end of tax year 2023, did the foundation have any undistributed income (Part XII, lines 6d
and 6e) for tax year(s) beginning before 2023?....................
2a
 
No
If "Yes," list the years right arrow20, 20, 20, 20
b
Are there any years listed in 2a for which the foundation is not applying the provisions of section 4942(a)(2)
(relating to incorrect valuation of assets) to the year’s undistributed income? (If applying section 4942(a)(2)
to all years listed, answer "No" and attach statement—see instructions.) ..............
2b
 
 
c
If the provisions of section 4942(a)(2) are being applied to any of the years listed in 2a, list the years here.
right arrow20, 20, 20, 20
3a
Did the foundation hold more than a 2% direct or indirect interest in any business enterprise at
any time during the year? ..............................
3a
 
No
b
If "Yes," did it have excess business holdings in 2023 as a result of (1) any purchase by the foundation
or disqualified persons after May 26, 1969; (2) the lapse of the 5-year period (or longer period approved
by the Commissioner under section 4943(c)(7)) to dispose of holdings acquired by gift or bequest; or (3)
the lapse of the 10-, 15-, or 20-year first phase holding period? (Use Schedule C, Form 4720, to determine
if the foundation had excess business holdings in 2023.) .....................
3b
 
 
4a
Did the foundation invest during the year any amount in a manner that would jeopardize its charitable purposes?
4a
 
No
b
Did the foundation make any investment in a prior year (but after December 31, 1969) that could jeopardize its
charitable purpose that had not been removed from jeopardy before the first day of the tax year beginning in 2023? ..
4b
 
No
Form 990-PF (2023)
Form 990-PF (2023)
Page 6
Part VI-B
Statements Regarding Activities for Which Form 4720 May Be Required (continued)
5a
During the year did the foundation pay or incur any amount to:
Yes
No
(1) Carry on propaganda, or otherwise attempt to influence legislation (section 4945(e))? ..........
5a(1)
 
No
(2) Influence the outcome of any specific public election (see section 4955); or to carry
on, directly or indirectly, any voter registration drive? ....................
5a(2)
 
No
(3) Provide a grant to an individual for travel, study, or other similar purposes? .............
5a(3)
Yes
 
(4) Provide a grant to an organization other than a charitable, etc., organization described
in section 4945(d)(4)(A)? See instructions ........................
5a(4)
 
No
(5) Provide for any purpose other than religious, charitable, scientific, literary, or
educational purposes, or for the prevention of cruelty to children or animals? .............
5a(5)
 
No
b
If any answer is "Yes" to 5a(1)–(5), did any of the transactions fail to qualify under the exceptions described in
Regulations section 53.4945 or in a current notice regarding disaster assistance? See instructions ........
5b
 
No
c
Organizations relying on a current notice regarding disaster assistance check .........right arrow
d
If the answer is "Yes" to question 5a(4), does the foundation claim exemption from the
tax because it maintained expenditure responsibility for the grant? .................
5d
 
 
If "Yes," attach the statement required by Regulations section 53.4945–5(d).
6a
Did the foundation, during the year, receive any funds, directly or indirectly, to pay premiums on
a personal benefit contract? .............................
6a
 
No
b
Did the foundation, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ....
6b
 
No
If "Yes" to 6b, file Form 8870.
7a
At any time during the tax year, was the foundation a party to a prohibited tax shelter transaction?
7a
 
No
b
If "Yes", did the foundation receive any proceeds or have any net income attributable to the transaction? .....
7b
 
 
8
Is the foundation subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or
excess parachute payment during the year? .........................
8
 
No
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors
1 List all officers, directors, trustees, foundation managers and their compensation. See instructions
(a) Name and address (b) Title, and average
hours per week
devoted to position 		(c) Compensation
 (If not paid, enter
-0-) 		(d) Contributions to employee benefit plans and deferred compensation (e) Expense account,
other allowances
MATTHEW B MCFARLANE DIRECTOR, PRESIDENT BEGAN JAN 24
10.00 		0 0 0
C/O PKFOD 500 MAMARONECK AVE
HARRISON,NY105281633
CATHERINE E CARR LIFE DIRECTOR, PRESIDENT THRU DEC 23
1.00 		0 0 0
C/O PKFOD 500 MAMARONECK AVE
HARRISON,NY105281633
BERNICE GRAFSTEIN LIFE DIRECTOR, VICE PRESIDENT
1.00 		0 0 0
C/O PKFOD 500 MAMARONECK AVE
HARRISON,NY105281633
VICTOR F CHIN DIRECTOR, TREASURER THRU DEC 23
1.00 		0 0 0
C/O PKFOD 500 MAMARONECK AVE
HARRISON,NY105281633
HENRY J GRASS LIFE DIRECTOR
1.00 		0 0 0
C/O PKFOD 500 MAMARONECK AVE
HARRISON,NY105281633
RONALD R HOY LIFE DIRECTOR
1.00 		0 0 0
C/O PKFOD 500 MAMARONECK AVE
HARRISON,NY105281633
FELIX E SCHWEIZER LIFE DIRECTOR
1.00 		0 0 0
C/O PKFOD 500 MAMARONECK AVE
HARRISON,NY105281633
STEVEN J ZOTTOLI LIFE DIRECTOR
1.00 		0 0 0
C/O PKFOD 500 MAMARONECK AVE
HARRISON,NY105281633
KAFUI DZIRASA DIRECTOR
1.00 		0 0 0
C/O PKFOD 500 MAMARONECK AVE
HARRISON,NY105281633
GUOPING FENG DIRECTOR
1.00 		0 0 0
C/O PKFOD 500 MAMARONECK AVE
HARRISON,NY105281633
MICHAEL A LONG DIRECTOR
1.00 		0 0 0
C/O PKFOD 500 MAMARONECK AVE
HARRISON,NY105281633
2 Compensation of five highest-paid employees (other than those included on line 1—see instructions). If none, enter “NONE."
(a) Name and address of each employee paid more than $50,000 (b) Title, and average
hours per week
devoted to position 		(c) Compensation (d) Contributions to
employee benefit
plans and deferred
compensation 		(e) Expense account,
other allowances
NONE
Total number of other employees paid over $50,000...................right arrow 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 7
Part VII
Information About Officers, Directors, Trustees, Foundation Managers, Highly Paid Employees,
and Contractors (continued)
3 Five highest-paid independent contractors for professional services (see instructions). If none, enter "NONE".
(a) Name and address of each person paid more than $50,000 (b) Type of service (c) Compensation
FOUNDATION SOURCE ACCOUNTING, TAX & ADMINISTRATION 90,357
55 WALLS DRIVE 3RD FLOOR
FAIRFIELD,CT068245180
BANK OF AMERICA INVESTMENT MGMT. & ADVISORY 72,244
701 BRICKELL AVENUE 8TH FLOOR
MIAMI,FL331312813
Total number of others receiving over $50,000 for professional services.............right arrow0
Part VIII-A
Summary of Direct Charitable Activities
List the foundation’s four largest direct charitable activities during the tax year. Include relevant statistical information such as the number of organizations and other beneficiaries served, conferences convened, research papers produced, etc. Expenses
1  
2  
3  
4  
Part VIII-B
Summary of Program-Related Investments (see instructions)
Describe the two largest program-related investments made by the foundation during the tax year on lines 1 and 2. Amount
1  
2  
All other program-related investments. See instructions.
3  
Total. Add lines 1 through 3.........................right arrow0
Form 990-PF (2023)
Form 990-PF (2023)
Page 8
Part IX
Minimum Investment Return (All domestic foundations must complete this part. Foreign foundations, see instructions.)
1
Fair market value of assets not used (or held for use) directly in carrying out charitable, etc.,
purposes:
a
Average monthly fair market value of securities...................
1a
12,168,112
b
Average of monthly cash balances.......................
1b
543,567
c
Fair market value of all other assets (see instructions)................
1c
12,898,203
d
Total (add lines 1a, b, and c).........................
1d
25,609,882
e
Reduction claimed for blockage or other factors reported on lines 1a and
1c (attach detailed explanation) .............
1e
0
2
Acquisition indebtedness applicable to line 1 assets..................
2
0
3
Subtract line 2 from line 1d.........................
3
25,609,882
4
Cash deemed held for charitable activities. Enter 1.5% (0.015) of line 3 (for greater amount, see
instructions) .............................
4
384,148
5
Net value of noncharitable-use assets. Subtract line 4 from line 3. ............
5
25,225,734
6
Minimum investment return. Enter 5% (0.05) of line 5................
6
1,261,287
Part X
Distributable Amount (see instructions) (Section 4942(j)(3) and (j)(5) private operating foundations and certain foreign organizations check here right arrow and do not complete this part.)
1
Minimum investment return from Part IX, line 6..................
1
1,261,287
2a
Tax on investment income for 2022 from Part V, line 5.......
2a
 
b
Income tax for 2022. (This does not include the tax from Part V.) ...
2b
 
c
Add lines 2a and 2b............................
2c
0
3
Distributable amount before adjustments. Subtract line 2c from line 1............
3
1,261,287
4
Recoveries of amounts treated as qualifying distributions................
4
0
5
Add lines 3 and 4............................
5
1,261,287
6
Deduction from distributable amount (see instructions).................
6
0
7
Distributable amount as adjusted. Subtract line 6 from line 5. Enter here and on Part XII, line 1 ...
7
1,261,287
Part XI
Qualifying Distributions (see instructions)
1
Amounts paid (including administrative expenses) to accomplish charitable, etc., purposes:
a
Expenses, contributions, gifts, etc.—total from Part I, column (d), line 26 ..........
1a
1,090,158
b
Program-related investments—total from Part VIII-B..................
1b
0
2
Amounts paid to acquire assets used (or held for use) directly in carrying out charitable, etc.,
purposes...............................
2
 
3
Amounts set aside for specific charitable projects that satisfy the:
a
Suitability test (prior IRS approval required)....................
3a
 
b
Cash distribution test (attach the required schedule) .................
3b
 
4
Qualifying distributions. Add lines 1a through 3b. Enter here and on Part XII, line 4. .......
4
1,090,158
Form 990-PF (2023)
Form 990-PF (2023)
Page 9
Part XII
Undistributed Income (see instructions)
(a)
Corpus 		(b)
Years prior to 2022 		(c)
2022 		(d)
2023
1 Distributable amount for 2023 from Part X, line 7 1,261,287
2 Undistributed income, if any, as of the end of 2022:
a Enter amount for 2022 only....... 92,228
b Total for prior years:20 , 20, 20 0
3 Excess distributions carryover, if any, to 2022:
a From 2018......  
b From 2019......  
c From 2020......  
d From 2021......  
e From 2022......  
f Total of lines 3a through e ........ 0
4Qualifying distributions for 2023 from Part
XI, line 4: right arrow$ 1,090,158
a Applied to 2022, but not more than line 2a 92,228
b Applied to undistributed income of prior years
(Election required—see instructions)..... 		0
c Treated as distributions out of corpus (Election
required—see instructions)........ 		0
d Applied to 2023 distributable amount..... 997,930
e Remaining amount distributed out of corpus 0
5 Excess distributions carryover applied to 2023. 0 0
(If an amount appears in column (d), the
same amount must be shown in column (a).)
6Enter the net total of each column as
indicated below:
a Corpus. Add lines 3f, 4c, and 4e. Subtract line 5 0
b Prior years’ undistributed income. Subtract
line 4b from line 2b .......... 		0
c Enter the amount of prior years’ undistributed
income for which a notice of deficiency has
been issued, or on which the section 4942(a)
tax has been previously assessed...... 		0
d Subtract line 6c from line 6b. Taxable amount
—see instructions ........... 		0
e Undistributed income for 2022. Subtract line
4a from line 2a. Taxable amount—see
instructions ............. 		0
f Undistributed income for 2023. Subtract
lines 4d and 5 from line 1. This amount must
be distributed in 2024 .......... 		263,357
7 Amounts treated as distributions out of
corpus to satisfy requirements imposed by
section 170(b)(1)(F) or 4942(g)(3) (Election may
be required - see instructions) ....... 		0
8 Excess distributions carryover from 2018 not
applied on line 5 or line 7 (see instructions) ... 		0
9 Excess distributions carryover to 2024.
Subtract lines 7 and 8 from line 6a ...... 		0
10 Analysis of line 9:
a Excess from 2019....  
b Excess from 2020....  
c Excess from 2021....  
d Excess from 2022....  
e Excess from 2023....  
Form 990-PF (2023)
Form 990-PF (2023)
Page 10
Part XIII
Private Operating Foundations (see instructions and Part VI-A, question 9)
1a If the foundation has received a ruling or determination letter that it is a private operating
foundation, and the ruling is effective for 2023, enter the date of the ruling ...... right arrow
 
b Check box to indicate whether the organization is a private operating foundation described in section or
2a Enter the lesser of the adjusted net
income from Part I or the minimum
investment return from Part IX for each
year listed .......... 		Tax year Prior 3 years (e) Total
(a) 2023 (b) 2022 (c) 2021 (d) 2020
         
b 85% (0.85) of line 2a .........          
c Qualifying distributions from Part XI,
line 4 for each year listed ..... 		         
d Amounts included in line 2c not used directly
for active conduct of exempt activities .......... 		         
e Qualifying distributions made directly
for active conduct of exempt activities.
Subtract line 2d from line 2c .... 		         
3 Complete 3a, b, or c for the
alternative test relied upon:
a “Assets" alternative test—enter:
(1) Value of all assets ......          
(2) Value of assets qualifying
under section 4942(j)(3)(B)(i)		          
b “Endowment" alternative test— enter 2/3
of minimum investment return shown in
Part IX, line 6 for each year listed .. 		         
c “Support" alternative test—enter:
(1) Total support other than gross
investment income (interest,
dividends, rents, payments
on securities loans (section
512(a)(5)), or royalties) .... 		         
(2) Support from general public
and 5 or more exempt
organizations as provided in
section 4942(j)(3)(B)(iii).... 		         
(3) Largest amount of support
from an exempt organization		          
(4) Gross investment income          
Part XIV
Supplementary Information (Complete this part only if the foundation had $5,000 or more in
assets at any time during the year—see instructions.)
1Information Regarding Foundation Managers:
aList any managers of the foundation who have contributed more than 2% of the total contributions received by the foundation
before the close of any tax year (but only if they have contributed more than $5,000). (See section 507(d)(2).)
bList any managers of the foundation who own 10% or more of the stock of a corporation (or an equally large portion of the
ownership of a partnership or other entity) of which the foundation has a 10% or greater interest.
2Information Regarding Contribution, Grant, Gift, Loan, Scholarship, etc., Programs:
Check here right arrow
aThe name, address, and telephone number or email address of the person to whom applications should be addressed:
bThe form in which applications should be submitted and information and materials they should include:
cAny submission deadlines:
dAny restrictions or limitations on awards, such as by geographical areas, charitable fields, kinds of institutions, or other
factors:
Form 990-PF (2023)
Form 990-PF (2023)
Page 11
Part XIV
Supplementary Information (continued)
3 Grants and Contributions Paid During the Year or Approved for Future Payment
Recipient If recipient is an individual,
show any relationship to
any foundation manager
or substantial contributor
 Foundation
status of
recipient 		Purpose of grant or
contribution 		Amount
Name and address (home or business)
aPaid during the year
CHUCHU ZHANG


505 GREEN STREET APT 2
CAMBRIDGE,MA021393247 		NONE I HENRY GRASS M.D. RISING STARS IN NEUROSCIENCE ACHIEVEMENT AWARD 2023 RECIPIENT 500

FOUNDATION FOR THE NATIONAL INSTITUTES OF HEALTH INC

11400 ROCKVILLE PIKE SUITE 600
NORTH BETHESDA,MA208523003 		N/A PC TO SUPPORT THE PARTICIPATION OF NATIVE AMERICAN STUDENTS IN THE NATIONAL INSTITUTE FOR NEUROLOGICAL DISORDERS AND STROKE (NINDS) SUMMER INTERNSHIP PROGRAM (SIP) 30,000
HANNAH WIRTSHAFTER


1464 WEST BERWYN AVENUE APT 3
CHICAGO,IL606402169 		NONE I HENRY GRASS M.D. RISING STARS IN NEUROSCIENCE ACHIEVEMENT AWARD 2023 RECIPIENT 500
HECTOR ARCINIEGA


116 HOLDEN GREEN APT A
CAMBRIDGE,MA021382053 		NONE I HENRY GRASS M.D. RISING STARS IN NEUROSCIENCE ACHIEVEMENT AWARD 2023 RECIPIENT 10,000
JESSICA THOMAS


632 5TH AVE N
LEWISBURG,TN370912148 		NONE I HENRY GRASS M.D. RISING STARS IN NEUROSCIENCE ACHIEVEMENT AWARD 2023 RECIPIENT 1,000
JESSICA TSAI


450 BROOKLINE AVENUE MAYER BUILDING
ROOM 652
BOSTON,MA022155418 		NONE I HENRY GRASS M.D. RISING STARS IN NEUROSCIENCE ACHIEVEMENT AWARD 2023 RECIPIENT 1,000
LISA HIURA


MCDB UNIVERSITY OF COLORADO BOULDER
1945 COLORADO AVE
BOULDER,CO803090000 		NONE I HENRY GRASS M.D. RISING STARS IN NEUROSCIENCE ACHIEVEMENT AWARD 2023 RECIPIENT 500

MARINE BIOLOGICAL LABORATORY

7 MBL STREET
WOODS HOLE,MA025431015 		N/A PC TO SUPPORT THE GRASS FELLOWSHIP PROGRAM 710,521
MARISSA CO


3181 SW SAM JACKSON PARK RD MAIL
CODE L103
PORTLAND,OR972393011 		NONE I HENRY GRASS M.D. RISING STARS IN NEUROSCIENCE ACHIEVEMENT AWARD 2023 RECIPIENT 500
SUPRAJA VARADARAJAN


298 KILLDEER COURT
FOSTER CITY,CA944041332 		NONE I HENRY GRASS M.D. RISING STARS IN NEUROSCIENCE ACHIEVEMENT AWARD 2023 RECIPIENT 500

THE UNIVERSITY OF ARIZONA

1200 EAST UNIVERSITY BOULEVARD
TUCSON,AZ857190000 		N/A GOV GENERAL OPERATING SUPPORT 37,095

THE UNIVERSITY OF MARYLAND

COLLEGE PARK
COLLEGE PARK,MD207420001 		N/A GOV GENERAL OPERATING SUPPORT 87,257

TRUSTEES OF TUFTS COLLEGE

80 GEORGE STREET
MEDFORD,MA021555519 		N/A PC GENERAL OPERATING SUPPORT 2,000
VINCENTE SAITO-DIAZ


CENTER FOR MOLECULAR MEDICINE 325
RIVERBEND RD RM 2217
ATHENS,GA306021516 		NONE I HENRY GRASS M.D. RISING STARS IN NEUROSCIENCE ACHIEVEMENT AWARD 2023 RECIPIENT 500
Total .................................right arrow 3a 881,873
bApproved for future payment
Total ................................. right arrow 3b 0
Form 990-PF (2023)
Form 990-PF (2023)
Page 12
Part XV-A
Analysis of Income-Producing Activities
Enter gross amounts unless otherwise indicated. Unrelated business income Excluded by section 512, 513, or 514 (e)
Related or exempt
function income
(See instructions.)
1Program service revenue: (a)
Business code 		(b)
Amount 		(c)
Exclusion code 		(d)
Amount
a
b
c
d
e
f
gFees and contracts from government agencies          
2 Membership dues and assessments ....          
3 Interest on savings and temporary cash
investments ........... 		    14 1,298  
4 Dividends and interest from securities .... 525990 2,034 14 292,248  
5 Net rental income or (loss) from real estate:
aDebt-financed property......          
bNot debt-financed property.....          
6 Net rental income or (loss) from personal property          
7 Other investment income .....     01 2,414  
8 Gain or (loss) from sales of assets other than
inventory ............ 		525990 3,975 18 -171,508  
9 Net income or (loss) from special events:          
10 Gross profit or (loss) from sales of inventory          
11 Other revenue:
aFEDERAL FORM 1042 REFUND 		    01 9,994  
b
c
d
e
12 Subtotal. Add columns (b), (d), and (e) .. 6,009 134,446 0
13Total. Add line 12, columns (b), (d), and (e)..................
13
140,455
(See worksheet in line 13 instructions to verify calculations.)
Part XV-B
Relationship of Activities to the Accomplishment of Exempt Purposes
Line No.
DownArrow 		Explain below how each activity for which income is reported in column (e) of Part XV-A contributed importantly to
the accomplishment of the foundation’s exempt purposes (other than by providing funds for such purposes). (See
instructions.)
Form 990-PF (2023)
Form 990-PF (2023)
Page 13
Part XVI
Information Regarding Transfers To and Transactions and Relationships With Noncharitable Exempt Organizations
1
Did the organization directly or indirectly engage in any of the following with any other organization described in section 501(c) (other than section 501(c)(3) organizations) or in section 527, relating to political organizations?
Yes
No
a
Transfers from the reporting foundation to a noncharitable exempt organization of:
(1) Cash...................................
1a(1)
 
No
(2) Other assets.................................
1a(2)
 
No
b
Other transactions:
(1) Sales of assets to a noncharitable exempt organization....................
1b(1)
 
No
(2) Purchases of assets from a noncharitable exempt organization..................
1b(2)
 
No
(3) Rental of facilities, equipment, or other assets.......................
1b(3)
 
No
(4) Reimbursement arrangements...........................
1b(4)
 
No
(5) Loans or loan guarantees.............................
1b(5)
 
No
(6) Performance of services or membership or fundraising solicitations................
1b(6)
 
No
c
Sharing of facilities, equipment, mailing lists, other assets, or paid employees..............
1c
 
No
d
If the answer to any of the above is "Yes," complete the following schedule. Column (b) should always show the fair market value
of the goods, other assets, or services given by the reporting foundation. If the foundation received less than fair market value
in any transaction or sharing arrangement, show in column (d) the value of the goods, other assets, or services received.
(a) Line No. (b) Amount involved (c) Name of noncharitable exempt organization (d) Description of transfers, transactions, and sharing arrangements
2a
Is the foundation directly or indirectly affiliated with, or related to, one or more tax-exempt organizations
described in section 501(c) (other than section 501(c)(3)) or in section 527? ...........
b
If "Yes," complete the following schedule.

(a) Name of organization (b) Type of organization (c) Description of relationship
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
right arrow right arrow
May the IRS discuss this return
with the preparer shown below?
See instructions.
Signature of officer or trustee Date Title
Paid Preparer Use Only Print/Type preparer's name Preparer's Signature Date Check if self-
employed right arrow		 PTIN
Firm's name SmallBullet
 Firm's EIN SmallBullet
Firm's address SmallBullet


 Phone no.
Form 990-PF (2023)
Additional Data


Software ID:  
Software Version:  


Form 990PF - Special Condition Description:
Special Condition Description

TY 2023 AccountingFeesSchedule
Name:
THE GRASS FOUNDATION
EIN:
04-6049529
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
ACCOUNTING, TAX RETURN PREPARATION AND ADMINISTRATION 90,357 0   90,357
AUDIT 25,438 0   25,438

TY 2023 InvestmentsCorpBondsSchedule
Name:
THE GRASS FOUNDATION
EIN:
04-6049529
Name of Bond End of Year Book Value End of Year Fair Market Value
ABBVIE 4.450% DUE 05/14/2046 17,000.000 QUANTITY 15,842 15,662
AMGEN INC NOTE 5.650% DUE 03/02/2053 31,000.000 QUANTITY 33,045 32,761
BANK NOVA SCOTIA B NOTE 1.350% DUE 06/24/2026 35,000.000 QUANTITY 32,235 32,174
BANK OF MONTREAL 2.500% DUE 06/28/2024 43,000.000 QUANTITY 42,415 42,362
CAPITAL ONE FINL CORP 6.312% DUE 06/08/2029 31,000.000 QUANTITY 31,983 31,846
CITIGROUP INC 3.887% DUE 01/10/2028 32,000.000 QUANTITY 31,052 30,972
DOW CHEMICAL CO NOTE 2.100% DUE 11/15/2030 37,000.000 QUANTITY 31,875 31,715
ENERGY TRANSFER 6.000% DUE 06/15/2048 33,000.000 QUANTITY 33,817 33,353
EOG RES 4.150% DUE 01/15/2026 42,000.000 QUANTITY 41,638 41,619
FIFTH THIRD BANCORP 3.650% DUE 01/25/2024 33,000.000 QUANTITY 32,944 32,946
GOLDMAN SACHS GROUP INC 3.850% DUE 01/26/2027 32,000.000 QUANTITY 31,183 31,128
JP MORGAN CHASE 3.882% DUE 07/24/2038 47,000.000 QUANTITY 42,112 41,770
LOWES COS INC 1.700% DUE 09/15/2028 18,000.000 QUANTITY 15,933 15,911
META PLATFORMS INC 5.600% DUE 05/15/2053 29,000.000 QUANTITY 31,909 31,584
MORGAN STANLEY 5.420% DUE 07/21/2034 26,000.000 QUANTITY 26,585 26,439
ORACLE CORP NOTE 6.250% DUE 11/09/2032 29,000.000 QUANTITY 31,729 31,597
PARKER-HANNIFIN CORP NOTE 4.250% DUE 09/15/2027 16,000.000 QUANTITY 15,886 15,872
PFIZER INC NOTE 2.700% DUE 05/28/2050 61,000.000 QUANTITY 43,056 42,687
PNC FINANCIAL SERVICES NOTE 2.600% DUE 07/23/2026 45,000.000 QUANTITY 42,737 42,629
REP SERVICES INC 1.450% DUE 02/15/2031 39,000.000 QUANTITY 31,929 31,692
ROYAL BANK OF CANADA 1.200% DUE 04/27/2026 46,000.000 QUANTITY 42,584 42,514
SHIRE ACQUISITIONS 3.200% DUE 09/23/2026 27,000.000 QUANTITY 26,010 25,979
TORONTO DOMINION BANK 1.950% DUE 01/12/2027 46,000.000 QUANTITY 42,705 42,523
TRUIST FINANCIAL CORP 4.260% DUE 07/28/2026 43,000.000 QUANTITY 42,210 42,116
U.S. BANCORP 1.450% DUE 05/12/2025 42,000.000 QUANTITY 40,054 39,978
UNITED TECHNOLOGIES 4.125% DUE 11/16/2028 33,000.000 QUANTITY 32,340 32,257

TY 2023 InvestmentsCorpStockSchedule
Name:
THE GRASS FOUNDATION
EIN:
04-6049529
Name of Stock End of Year Book Value End of Year Fair Market Value
AAR CORP. (AIR) 141.000 SHARES 6,233 8,798
ABBOTT LABORATORIES (ABT) 85.000 SHARES 10,013 9,356
ABBVIE INC. (ABBV) 126.000 SHARES 14,998 19,526
ACCENTURE PLC (ACN) 40.000 SHARES 10,006 14,036
ACI WORLDWIDE, INC. (ACIW) 392.000 SHARES 8,571 11,995
AENA S.M.E., S.A. (ANYYY) 212.000 SHARES 3,625 3,871
AERCAP HOLDINGS N.V. (AER) 400.000 SHARES 19,076 29,728
AIA GROUP LIMITED (AAGIY) 334.000 SHARES 14,422 11,580
AKZO NOBEL N.V. (AKZOY) 225.000 SHARES 4,639 6,242
ALCON INC. (ALC) 208.000 SHARES 13,463 16,249
ALIBABA GROUP HOLDING LIMITED (BABA) 223.000 SHARES 40,084 17,285
ALIGN TECHNOLOGY, INC. (ALGN) 43.000 SHARES 17,025 11,782
ALLIANZ SE (ALIZY) 175.000 SHARES 3,995 4,671
ALPHABET INC. (GOOG) 139.000 SHARES 11,328 19,589
ALPHABET INC. (GOOGL) 159.000 SHARES 12,908 22,211
ALSTOM SA (ALSMY) 3,801.000 SHARES 5,941 4,903
AMADEUS IT GROUP, S.A. (AMADY) 36.000 SHARES 1,672 2,595
AMAZON.COM, INC. (AMZN) 250.000 SHARES 29,228 37,985
AMBARELLA, INC. (AMBA) 182.000 SHARES 13,872 11,155
AMDOCS LIMITED (DOX) 111.000 SHARES 8,353 9,756
AMEREN CORPORATION (AEE) 68.000 SHARES 5,536 4,919
AMERICAN ELECTRIC POWER COMPANY, INC. (AEP) 277.000 SHARES 24,004 22,498
AMERICAN WATER WORKS COMPANY, INC. (AWK) 106.000 SHARES 14,247 13,991
AMERISAFE, INC. (AMSF) 207.000 SHARES 11,335 9,684
ANALOG DEVICES, INC. (ADI) 78.000 SHARES 11,570 15,488
ANHEUSER-BUSCH INBEV SA/NV (BUD) 74.000 SHARES 3,907 4,782
ANNALY CAPITAL MANAGEMENT, INC. (NLY) 845.000 SHARES 22,881 16,368
ANSYS, INC. (ANSS) 37.000 SHARES 12,311 13,427
API GROUP CORPORATION (APG) 262.000 SHARES 5,003 9,065
APTARGROUP, INC. (ATR) 52.000 SHARES 5,625 6,428
APTIV PLC (APTV)189.000 SHARES 17,613 16,957
ARCH CAPITAL GROUP LTD. (ACGL) 289.000 SHARES 10,356 21,464
ARM HOLDINGS PLC (ARM) 36.000 SHARES 1,958 2,705
ASHLAND INC. (ASH) 48.000 SHARES 3,951 4,047
ASML HOLDING N.V. (ASML) 9.000 SHARES 3,247 6,812
ASSA ABLOY AB (PUBL) (ASAZY) 112.000 SHARES 1,175 1,611
ASTRAZENECA PLC (AZN) 146.000 SHARES 8,539 9,833
AT&T INC. (T) 628.000 SHARES 9,270 10,538
AUTODESK, INC. (ADSK) 86.000 SHARES 17,672 20,939
AUTOMATIC DATA PROCESSING, INC. (ADP) 33.000 SHARES 5,807 7,688
AVALONBAY COMMUNITIES, INC. (AVB) 25.000 SHARES 5,386 4,681
AVERY DENNISON CORPORATION (AVY) 28.000 SHARES 4,028 5,660
AXA SA (AXAHY) 126.000 SHARES 3,056 4,118
AXIS CAPITAL HOLDINGS LIMITED (AXS) 54.000 SHARES 3,085 2,990
AZENTA, INC. (AZTA) 196.000 SHARES 8,286 12,767
AZZ INC. (AZZ) 251.000 SHARES 11,204 14,581
BAKER HUGHES COMPANY (BKR) 260.000 SHARES 6,649 8,887
BANCO BRADESCO S.A. (BBD) 519.000 SHARES 1,392 1,817
BARCLAYS PLC (BCS) 877.000 SHARES 7,310 6,911
BAYER AKTIENGESELLSCHAFT (BAYRY) 181.000 SHARES 2,907 1,671
BECTON, DICKINSON AND COMPANY (BDX) 42.000 SHARES 10,535 10,241
BENTLEY SYSTEMS, INCORPORATED (BSY) 172.000 SHARES 8,904 8,975
BIO-TECHNE CORPORATION (TECH) 89.000 SHARES 6,747 6,867
BJ'S WHOLESALE CLUB HOLDINGS, INC. (BJ) 94.000 SHARES 6,512 6,266
BLACK HILLS CORPORATION (BKH) 101.000 SHARES 7,824 5,449
BLACKLINE, INC. (BL) 260.000 SHARES 13,912 16,234
BLACKROCK, INC. (BLK) 12.000 SHARES 7,309 9,742
BLACKSTONE INC. (BX) 31.000 SHARES 2,275 4,059
BLOCK, INC. (SQ) 113.000 SHARES 9,465 8,741
BNP PARIBAS SA (BNPQY) 50.000 SHARES 1,162 1,737
BOOT BARN HOLDINGS, INC. (BOOT) 117.000 SHARES 8,898 8,981
BOOZ ALLEN HAMILTON HOLDING CORPORATION (BAH) 34.000 SHARES 3,164 4,349
BP P.L.C. (BP) 193.000 SHARES 6,665 6,832
BRIDGESTONE CORPORATION (BRDCY) 257.000 SHARES 4,936 5,281
BRISTOL-MYERS SQUIBB COMPANY (BMY) 127.000 SHARES 8,394 6,516
BRITISH AMERICAN TOBACCO P.L.C. (BTI) 123.000 SHARES 4,247 3,603
BROADCOM INC. (AVGO) 19.000 SHARES 7,992 21,209
BROADRIDGE FINANCIAL SOLUTIONS, INC. (BR) 73.000 SHARES 11,041 15,020
BROWN & BROWN, INC. (BRO) 275.000 SHARES 13,251 19,555
BUNZL PLC (BZLFY) 129.000 SHARES 3,768 5,281
BURBERRY GROUP PLC (BURBY) 135.000 SHARES 3,273 2,462
BXP, INC. (BXP) 214.000 SHARES 14,248 15,016
CACTUS, INC. (WHD) 304.000 SHARES 9,622 13,802
CANADIAN PACIFIC KANSAS CITY LIMITED (CP) 42.000 SHARES 3,299 3,321
CAPITEC BANK HOLDINGS LIMITED (CKHGY) 83.000 SHARES 3,236 4,586
CARLISLE COMPANIES INCORPORATED (CSL) 91.000 SHARES 13,595 28,431
CARPENTER TECHNOLOGY CORPORATION (CRS) 206.000 SHARES 5,038 14,585
CARREFOUR SA (CRRFY) 1,765.000 SHARES 6,472 6,583
CBRE GROUP, INC. (CBRE) 279.000 SHARES 16,224 25,972
CDW CORPORATION (CDW) 72.000 SHARES 9,824 16,367
CHAMPIONX CORPORATION (CHX) 505.000 SHARES 10,160 14,751
CHARLES RIVER LABORATORIES INTERNATIONAL, INC. (CRL) 61.000 SHARES 13,277 14,420
CHEVRON CORPORATION (CVX) 141.000 SHARES 16,680 21,032
CHINA MERCHANTS BANK CO., LTD. (CIHKY) 275.000 SHARES 10,479 4,777
CHUBB LIMITED (CB) 64.000 SHARES 10,341 14,464
CHURCH & DWIGHT CO., INC. (CHD) 168.000 SHARES 13,664 15,886
CHURCHILL DOWNS INCORPORATED (CHDN) 65.000 SHARES 8,773 8,770
CINEMARK HOLDINGS, INC. (CNK) 449.000 SHARES 7,380 6,326
CINTAS CORPORATION (CTAS) 18.000 SHARES 9,071 10,848
CISCO SYSTEMS, INC. (CSCO) 364.000 SHARES 17,407 18,389
CME GROUP INC. (CME) 56.000 SHARES 11,193 11,794
CMS ENERGY CORPORATION (CMS) 63.000 SHARES 4,055 3,658
COLUMBIA BANKING SYSTEM, INC. (COLB) 513.000 SHARES 12,537 13,687
COLUMBUS MCKINNON CORPORATION (CMCO) 357.000 SHARES 15,732 13,930
COMCAST CORPORATION (CMCSA) 464.000 SHARES 19,461 20,346
COMMVAULT SYSTEMS, INC. (CVLT) 127.000 SHARES 6,576 10,141
COMPAGNIE FINANCIERE RICHEMONT SA (CFRUY) 447.000 SHARES 4,121 6,157
COMPASS GROUP PLC (CMPGY) 100.000 SHARES 2,268 2,781
CONOCOPHILLIPS (COP) 67.000 SHARES 4,589 7,777
COPART, INC. (CPRT) 368.000 SHARES 8,875 18,032
COSAN S.A. (CSAN) 486.000 SHARES 7,976 7,611
COSTAR GROUP, INC. (CSGP) 149.000 SHARES 11,454 13,021
CREDICORP LTD. (BAP) 25.000 SHARES 3,983 3,748
CRODA INTERNATIONAL PLC (COIHY) 33.000 SHARES 935 1,098
CTS CORPORATION (CTS) 312.000 SHARES 10,677 13,647
CUBESMART (CUBE) 195.000 SHARES 8,428 9,038
CUMMINS INC. (CMI) 25.000 SHARES 5,668 5,989
CVB FINANCIAL CORP. (CVBF) 634.000 SHARES 10,659 12,800
D.R. HORTON, INC. (DHI) 99.000 SHARES 9,167 15,046
DANONE S.A. (DANOY) 460.000 SHARES 4,508 5,957
DEERE & COMPANY (DE) 11.000 SHARES 3,453 4,399
DEFINITIVE HEALTHCARE CORP. (DH) 2,105.000 SHARES 21,112 20,924
DENNY'S CORPORATION (DENN) 845.000 SHARES 14,408 9,194
DEUTSCHE TELEKOM AG (DTEGY) 258.000 SHARES 4,994 6,226
DEVON ENERGY CORPORATION (DVN) 166.000 SHARES 4,755 7,520
DEXCOM, INC. (DXCM) 165.000 SHARES 15,753 20,475
DIAGEO PLC (DEO) 63.000 SHARES 10,270 9,177
DIAMONDBACK ENERGY, INC. (FANG) 90.000 SHARES 12,646 13,957
DIODES INCORPORATED (DIOD) 93.000 SHARES 6,211 7,488
DISCOVER FINANCIAL SERVICES (DFS) 49.000 SHARES 4,139 5,508
DOLLAR TREE, INC. (DLTR) 87.000 SHARES 12,021 12,358
DONALDSON COMPANY, INC. (DCI) 144.000 SHARES 8,512 9,410
DORMAN PRODUCTS, INC. (DORM) 241.000 SHARES 18,332 20,102
DTE ENERGY COMPANY (DTE) 28.000 SHARES 2,342 3,087
DUN & BRADSTREET HOLDINGS, INC. (DNB) 572.000 SHARES 8,799 6,692
DYCOM INDUSTRIES, INC. (DY) 103.000 SHARES 6,014 11,854
DYNATRACE, INC. (DT) 241.000 SHARES 12,409 13,180
EAGLE MATERIALS INC. (EXP) 92.000 SHARES 9,355 18,661
EATON CORPORATION PLC (ETN) 52.000 SHARES 6,480 12,523
EDGEWELL PERSONAL CARE COMPANY (EPC) 194.000 SHARES 6,887 7,106
ELEMENT SOLUTIONS INC (ESI) 466.000 SHARES 9,120 10,783
ELEVANCE HEALTH, INC. (ELV) 26.000 SHARES 12,267 12,261
ENEL SPA (ENLAY) 958.000 SHARES 4,261 7,084
ENOVIS CORPORATION (ENOV) 203.000 SHARES 11,443 11,372
ENPRO INC. (NPO) 79.000 SHARES 4,960 12,382
ENTERGY CORPORATION (ETR) 55.000 SHARES 6,012 5,565
EOG RESOURCES, INC. (EOG) 204.000 SHARES 15,207 24,674
EPAM SYSTEMS, INC. (EPAM) 45.000 SHARES 13,297 13,380
EQUIFAX INC. (EFX) 54.000 SHARES 10,644 13,354
ERSTE GROUP BANK AG (EBKDY) 208.000 SHARES 3,394 4,252
ESCO TECHNOLOGIES INC. (ESE) 229.000 SHARES 16,418 26,800
ESSILORLUXOTTICA SOCIETE ANONYME (ESLOY) 45.000 SHARES 4,050 4,522
EURONET WORLDWIDE, INC. (EEFT) 174.000 SHARES 17,722 17,659
EVERSOURCE ENERGY (ES) 55.000 SHARES 4,837 3,395
EXPEDITORS INTERNATIONAL OF WASHINGTON, INC. (EXPD) 86.000 SHARES 6,894 10,939
EXXON MOBIL CORPORATION (XOM) 216.000 SHARES 17,929 21,596
F.N.B. CORPORATION (FNB) 1,043.000 SHARES 10,168 14,362
FACTSET RESEARCH SYSTEMS INC. (FDS) 22.000 SHARES 7,181 10,495
FANUC CORPORATION (FANUY) 347.000 SHARES 4,997 5,077
FASTENAL COMPANY (FAST) 196.000 SHARES 8,476 12,695
FERGUSON ENTERPRISES INC. (FERG) 54.000 SHARES 7,963 10,426
FIFTH THIRD BANCORP (FITB) 467.000 SHARES 13,189 16,107
FIRST FINANCIAL BANCORP. (FFBC) 425.000 SHARES 9,529 10,094
FIRST INDUSTRIAL REALTY TRUST, INC. (FR) 138.000 SHARES 6,243 7,268
FIRST INTERSTATE BANCSYSTEM, INC. (FIBK) 536.000 SHARES 18,413 16,482
FIRSTENERGY CORP. (FE) 443.000 SHARES 20,245 16,240
FIVE BELOW, INC. (FIVE) 46.000 SHARES 6,061 9,805
FLOOR & DECOR HOLDINGS, INC. (FND) 121.000 SHARES 11,321 13,499
FOOT LOCKER, INC. (FL) 135.000 SHARES 5,104 4,205
FOUR CORNERS PROPERTY TRUST, INC. (FCPT) 336.000 SHARES 8,997 8,501
FREEPORT-MCMORAN INC. (FCX) 320.000 SHARES 10,669 13,622
FRESHPET, INC. (FRPT) 229.000 SHARES 11,018 19,868
GAMING AND LEISURE PROPERTIES, INC. (GLPI) 254.000 SHARES 11,428 12,535
GATES INDUSTRIAL CORPORATION PLC (GTES) 503.000 SHARES 7,877 6,750
GENERAL MILLS, INC. (GIS) 68.000 SHARES 4,422 4,430
GENUINE PARTS COMPANY (GPC) 28.000 SHARES 4,635 3,878
GLAUKOS CORPORATION (GKOS) 143.000 SHARES 6,684 11,367
GLOBANT S.A. (GLOB) 114.000 SHARES 23,222 27,129
GRACO INC. (GGG) 141.000 SHARES 7,916 12,233
GRAPHIC PACKAGING HOLDING COMPANY (GPK) 255.000 SHARES 5,557 6,286
GRUPO FINANCIERO BANORTE, S.A.B. DE C.V. (GBOOY) 163.000 SHARES 6,015 8,184
GSK PLC (GSK) 269.000 SHARES 9,877 9,970
GXO LOGISTICS, INC. (GXO) 171.000 SHARES 9,550 10,458
HDFC BANK LIMITED (HDB) 299.000 SHARES 19,303 20,066
HEALTHCARE REALTY TRUST INCORPORATED (HR) 721.000 SHARES 11,350 12,423
HEICO CORPORATION (HEI) 90.000 SHARES 11,900 16,098
HELEN OF TROY LIMITED (HELE) 89.000 SHARES 9,120 10,752
HELIOS TECHNOLOGIES, INC. (HLIO) 475.000 SHARES 25,183 21,541
HONEYWELL INTERNATIONAL INC. (HON) 78.000 SHARES 14,120 16,357
HSBC HOLDINGS PLC (HSBC) 113.000 SHARES 3,872 4,581
HUB GROUP, INC. (HUBG) 135.000 SHARES 7,832 12,412
HUNTSMAN CORPORATION (HUN) 319.000 SHARES 8,664 8,016
IBERDROLA, S.A. (IBDRY) 133.000 SHARES 6,202 6,983
ICHOR HOLDINGS, LTD. (ICHR) 249.000 SHARES 7,459 8,374
ICICI BANK LIMITED (IBN) 482.000 SHARES 8,865 11,491
ICON PUBLIC LIMITED COMPANY (ICLR) 63.000 SHARES 11,272 17,833
IDEX CORPORATION (IEX) 58.000 SHARES 11,801 12,592
IDEXX LABORATORIES, INC. (IDXX) 38.000 SHARES 13,156 21,092
ILLINOIS TOOL WORKS INC. (ITW) 27.000 SHARES 6,676 7,072
ILLUMINA, INC. (ILMN) 63.000 SHARES 14,862 8,772
INDEPENDENT BANK GROUP, INC. (IBTX) 157.000 SHARES 8,098 7,988
INFINEON TECHNOLOGIES AG (IFNNY) 168.000 SHARES 4,729 7,031
ING GROEP N.V. (ING) 286.000 SHARES 3,291 4,296
INGERSOLL RAND INC. (IR) 137.000 SHARES 6,672 10,596
INSULET CORPORATION (PODD) 63.000 SHARES 13,450 13,670
INTEGER HOLDINGS CORPORATION (ITGR) 208.000 SHARES 17,151 20,609
INTERNATIONAL BUSINESS MACHINES CORPORATION (IBM) 91.000 SHARES 11,757 14,883
INTESA SANPAOLO S.P.A. (ISNPY) 223.000 SHARES 3,121 3,911
INTUITIVE SURGICAL, INC. (ISRG) 25.000 SHARES 4,603 8,434
J.B. HUNT TRANSPORT SERVICES, INC. (JBHT) 56.000 SHARES 8,271 11,185
JACK HENRY & ASSOCIATES, INC. (JKHY) 63.000 SHARES 11,163 10,295
JACK IN THE BOX INC. (JACK) 164.000 SHARES 11,500 13,387
JACOBS SOLUTIONS INC. (J) 189.000 SHARES 20,473 24,532
JD.COM, INC. (JD) 127.000 SHARES 9,875 3,669
JEFFERIES FINANCIAL GROUP INC. (JEF) 158.000 SHARES 5,534 6,385
JFROG LTD. (FROG) 476.000 SHARES 10,493 16,474
JOHN BEAN TECHNOLOGIES CORPORATION (JBT) 193.000 SHARES 20,199 19,194
JOHNSON & JOHNSON (JNJ) 161.000 SHARES 24,339 25,235
JPMORGAN CHASE & CO. (JPM) 224.000 SHARES 29,502 38,102
KDDI CORPORATION (KDDIY) 299.000 SHARES 4,623 4,709
KEMPER CORPORATION (KMPR) 291.000 SHARES 18,620 14,163
KERING SA (PPRUY) 101.000 SHARES 5,079 4,468
KEURIG DR PEPPER INC. (KDP) 731.000 SHARES 22,953 24,357
KINGFISHER PLC (KGFHY) 172.000 SHARES 987 1,085
KINSALE CAPITAL GROUP, INC. (KNSL) 30.000 SHARES 8,251 10,047
KITE REALTY GROUP TRUST (KRG) 575.000 SHARES 10,906 13,145
KLA CORPORATION (KLAC) 26.000 SHARES 6,149 15,114
KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC. (KNX) 161.000 SHARES 8,881 9,282
KONINKLIJKE PHILIPS N.V. (PHG) 245.000 SHARES 3,922 5,716
KORN FERRY (KFY) 187.000 SHARES 7,671 11,098
L3HARRIS TECHNOLOGIES, INC. (LHX) 95.000 SHARES 18,232 20,009
LABCORP HOLDINGS INC. (LH) 47.000 SHARES 9,817 10,683
L'AIR LIQUIDE S.A. (AIQUY) 78.000 SHARES 2,096 3,038
LAM RESEARCH CORPORATION (LRCX) 18.000 SHARES 9,139 14,099
LAMB WESTON HOLDINGS, INC. (LW) 110.000 SHARES 9,019 11,890
LANTHEUS HOLDINGS, INC. (LNTH) 263.000 SHARES 9,682 16,306
LATTICE SEMICONDUCTOR CORPORATION (LSCC) 143.000 SHARES 9,571 9,866
LEGAL & GENERAL GROUP PLC (LGGNY) 174.000 SHARES 2,490 2,847
LESLIE'S, INC. (LESL) 579.000 SHARES 5,469 4,001
LINDE PLC (LIN) 29.000 SHARES 8,606 11,911
LITTELFUSE, INC. (LFUS) 43.000 SHARES 6,122 11,505
LKQ CORPORATION (LKQ) 450.000 SHARES 18,247 21,506
LOCKHEED MARTIN CORPORATION (LMT) 21.000 SHARES 8,645 9,518
LOEWS CORPORATION (L) 171.000 SHARES 9,285 11,900
LONZA GROUP AG (LZAGY) 73.000 SHARES 3,499 3,073
LULULEMON ATHLETICA INC. (LULU) 9.000 SHARES 3,251 4,602
MAKITA CORPORATION (MKTAY) 99.000 SHARES 2,696 2,724
MARKETAXESS HOLDINGS INC. (MKTX) 31.000 SHARES 10,425 9,078
MARSH & MCLENNAN COMPANIES, INC. (MMC) 77.000 SHARES 9,682 14,589
MASONITE INTERNATIONAL CORPORATION (DOOR) 113.000 SHARES 9,623 9,567
MASTEC, INC. (MTZ) 192.000 SHARES 16,760 14,538
MATADOR RESOURCES COMPANY (MTDR) 182.000 SHARES 11,053 10,349
MCDONALD'S CORPORATION (MCD) 51.000 SHARES 12,126 15,122
MEDTRONIC PLC (MDT) 110.000 SHARES 10,133 9,062
MEITUAN (MPNGY) 240.000 SHARES 19,002 5,042
MERCADOLIBRE, INC. (MELI) 4.000 SHARES 2,853 6,286
MERCK & CO., INC. (MRK) 154.000 SHARES 13,142 16,789
META PLATFORMS, INC. (META) 148.000 SHARES 21,046 52,386
MICROCHIP TECHNOLOGY INCORPORATED (MCHP) 133.000 SHARES 9,264 11,994
MICRON TECHNOLOGY, INC. (MU) 50.000 SHARES 2,976 4,267
MICROSOFT CORPORATION (MSFT) 186.000 SHARES 39,456 69,944
MINERALS TECHNOLOGIES INC. (MTX) 213.000 SHARES 12,108 15,189
MINTH GROUP LIMITED (MNTHY) 66.000 SHARES 5,201 2,655
MITSUBISHI UFJ FINANCIAL GROUP, INC. (MUFG) 565.000 SHARES 3,182 4,865
MONDELEZ INTERNATIONAL, INC. (MDLZ) 144.000 SHARES 9,077 10,430
MONOLITHIC POWER SYSTEMS, INC. (MPWR) 20.000 SHARES 3,800 12,616
MONRO, INC. (MNRO) 559.000 SHARES 25,651 16,401
MONSTER BEVERAGE CORPORATION (MNST) 354.000 SHARES 13,153 20,394
MONTROSE ENVIRONMENTAL GROUP, INC. (MEG) 591.000 SHARES 18,065 18,989
MOOG INC. (MOG-A) 81.000 SHARES 7,019 11,727
MORGAN STANLEY (MS) 121.000 SHARES 11,393 11,283
MSCI INC. (MSCI) 24.000 SHARES 12,336 13,576
MUELLER WATER PRODUCTS, INC. (MWA) 833.000 SHARES 10,203 11,995
MURATA MANUFACTURING CO., LTD. (MRAAY) 554.000 SHARES 4,774 5,847
NATIONAL GRID PLC (NGG) 57.000 SHARES 3,411 3,875
NATWEST GROUP PLC (NWG) 304.000 SHARES 1,816 1,712
NEOGEN CORPORATION (NEOG) 1,425.000 SHARES 24,657 28,657
NETFLIX, INC. (NFLX) 60.000 SHARES 13,790 29,213
NEXTERA ENERGY, INC. (NEE) 68.000 SHARES 4,839 4,130
NIKE, INC. (NKE) 35.000 SHARES 3,505 3,800
NOMAD FOODS LIMITED (NOMD) 610.000 SHARES 10,338 10,340
NORTHROP GRUMMAN CORPORATION (NOC) 25.000 SHARES 9,662 11,704
NORTHWESTERN ENERGY GROUP, INC. (NWE) 232.000 15,725 11,806
NOV INC. (NOV) 209.000 SHARES 3,314 4,239
NOVARTIS AG (NVS) 125.000 SHARES 9,994 12,621
NOVO NORDISK A/S (NVO) 194.000 SHARES 10,152 20,070
NVENT ELECTRIC PLC (NVT) 216.000 SHARES 7,089 12,763
NVIDIA CORPORATION (NVDA) 103.000 SHARES 10,342 51,008
OLD NATIONAL BANCORP (ONB) 900.000 SHARES 13,181 15,201
ON SEMICONDUCTOR CORPORATION (ON) 87.000 SHARES 5,845 7,267
ORACLE CORPORATION (ORCL) 258.000 SHARES 15,207 27,201
OXFORD INDUSTRIES, INC. (OXM) 79.000 SHARES 5,998 7,900
PACIFIC PREMIER BANCORP, INC. (PPBI) 455.000 SHARES 9,458 13,245
PACKAGING CORPORATION OF AMERICA (PKG) 20.000 SHARES 2,110 3,258
PARKER-HANNIFIN CORPORATION (PH) 35.000 SHARES 8,880 16,125
PARSONS CORPORATION (PSN) 342.000 SHARES 11,692 21,447
PATRICK INDUSTRIES, INC. (PATK) 117.000 SHARES 7,236 11,741
PATTERSON COMPANIES, INC. (PDCO) 353.000 SHARES 7,028 10,043
PAYCOM SOFTWARE, INC. (PAYC) 39.000 SHARES 12,373 8,062
PAYCOR HCM, INC. (PYCR) 710.000 SHARES 15,685 15,329
PAYPAL HOLDINGS, INC. (PYPL) 100.000 SHARES 9,888 6,141
PEBBLEBROOK HOTEL TRUST (PEB) 414.000 SHARES 7,829 6,616
PEPSICO, INC. (PEP) 48.000 SHARES 7,208 8,152
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDO. TBK TLK 164.000 SHARES 4,353 4,225
PHILIP MORRIS INTERNATIONAL INC. (PM) 98.000 SHARES 9,068 9,220
PING AN INSURANCE (GROUP) COMPANY OF CHINA, LTD. (PNGAY) 637.000 SHARES 13,598 5,746
PJT PARTNERS INC. (PJT) 179.000 SHARES 14,230 18,235
PLEXUS CORP. (PLXS) 129.000 SHARES 9,812 13,949
PNM RESOURCES INC (98P.DU) 265.000 SHARES 12,359 11,024
POOL CORPORATION (POOL) 42.000 SHARES 9,813 16,746
POTLATCHDELTIC CORPORATION (PCH) 297.000 SHARES 13,869 14,583
PPG INDUSTRIES, INC. (PPG) 59.000 SHARES 8,249 8,823
PRA GROUP, INC. (PRAA) 480.000 SHARES 14,015 12,576
PRIMO WATER CORPORATION (PRMW) 514.000 SHARES 7,098 7,736
PROGRESS SOFTWARE CORPORATION (PRGS) 182.000 SHARES 8,309 9,883
PROLOGIS, INC. (PLD) 37.000 SHARES 4,440 4,932
PROS HOLDINGS, INC. (PRO) 332.000 SHARES 8,606 12,878
PRUDENTIAL PLC (PUK) 272.000 SHARES 6,051 6,106
PT BANK NEGARA INDONESIA (PERSERO) TBK (PTBRY) 218.000 SHARES 3,337 3,689
PT BANK RAKYAT INDONESIA (PERSERO) TBK (BKRKY) 437.000 SHARES 6,886 8,006
PTC INC. (PTC) 104.000 SHARES 11,476 18,196
PUBLIC STORAGE (PSA) 15.000 SHARES 4,340 4,575
QIAGEN N.V. (QGEN) 56.000 SHARES 2,390 2,432
QUALCOMM INCORPORATED (QCOM) 84.000 SHARES 8,410 12,149
RB GLOBAL, INC. (RBA) 319.000 SHARES 17,520 21,338
RBC BEARINGS INCORPORATED (RBC) 47.000 SHARES 8,996 13,390
RECKITT BENCKISER GROUP PLC (RBGLY) 852.000 SHARES 12,836 11,706
RECRUIT HOLDINGS CO., LTD. (RCRUY) 514.000 SHARES 3,251 4,292
REGENERON PHARMACEUTICALS, INC. (REGN) 16.000 SHARES 8,573 14,053
REGIONS FINANCIAL CORPORATION (RF) 397.000 SHARES 6,241 7,694
RELX PLC (RELX) 248.000 SHARES 7,002 9,836
RENASANT CORPORATION (RNST) 410.000 SHARES 11,849 13,809
REPLIGEN CORPORATION (RGEN) 75.000 SHARES 11,225 13,485
REPUBLIC SERVICES, INC. (RSG) 186.000 SHARES 19,542 30,673
RESMED INC. (RMD) 78.000 SHARES 14,867 13,418
REYNOLDS CONSUMER PRODUCTS INC. (REYN) 681.000 SHARES 20,018 18,278
RH (RH) 15.000 SHARES 3,717 4,372
RIO TINTO GROUP (RIO) 80.000 SHARES 4,846 5,957
ROCHE HOLDING AG (RHHBY) 639.000 SHARES 35,656 32,927
ROLLS-ROYCE HOLDINGS PLC (RYCEY) 3,281.000 2,690 12,402
ROYAL DUTCH SHELL (RDSA) 98.000 SHARES 6,029 6,448
RUSH ENTERPRISES, INC. (RUSHA) 249.000 SHARES 5,576 12,525
RWE AKTIENGESELLSCHAFT (RWEOY) 88.000 SHARES 3,381 4,010
RYANAIR HOLDINGS PLC (RYAAY) 27.000 SHARES 2,151 3,601
RYMAN HOSPITALITY PROPERTIES, INC. (RHP) 105.000 SHARES 8,295 11,556
SALESFORCE, INC. (CRM) 86.000 SHARES 13,982 22,630
SANDOZ GROUP AG (SDZNY) 17.000 SHARES 382 544
SANDVIK AB (PUBL) (SDVKY) 19.000 SHARES 318 412
SANDY SPRING BANCORP, INC. (SASR) 272.000 SHARES 8,749 7,409
SANOFI (SNY) 174.000 SHARES 8,329 8,653
SAP SE (SAP) 80.000 SHARES 10,169 12,367
SCHNEIDER ELECTRIC S.E. (SBGSY) 170.000 SHARES 3,744 6,839
SEI INVESTMENTS COMPANY (SEIC) 130.000 SHARES 7,968 8,262
SELECTIVE INSURANCE GROUP, INC. (SIGI) 158.000 SHARES 11,075 15,718
SEMTECH CORPORATION (SMTC) 533.000 SHARES 14,842 11,678
SEVEN & I HOLDINGS CO., LTD. (SVNDY) 138.000 SHARES 2,645 2,738
SHELL PLC (SHEL) 88.000 SHARES 3,264 5,790
SHOPIFY INC. (SHOP) 182.000 SHARES 8,196 14,178
SIEMENS AKTIENGESELLSCHAFT (SIEGY) 66.000 SHARES 5,371 6,174
SILICON LABORATORIES INC. (SLAB) 181.000 SHARES 19,144 23,941
SIMPSON MANUFACTURING CO., INC. (SSD) 66.000 SHARES 5,565 13,067
SIX FLAGS ENTERTAINMENT CORPORATION (FUN) 570.000 SHARES 13,414 14,296
SMARTSHEET INC. (SMAR) 324.000 SHARES 11,340 15,494
SMC CORPORATION (SMCAY) 137.000 SHARES 3,588 3,658
SONY GROUP CORPORATION (SONY) 66.000 SHARES 4,929 6,250
SOUTHWESTERN ENERGY CO (SWN) 1,661.000 SHARES 11,056 10,880
STAG INDUSTRIAL, INC. (STAG) 299.000 SHARES 9,911 11,739
STARBUCKS CORPORATION (SBUX) 122.000 SHARES 11,130 11,713
SUMITOMO MITSUI FINANCIAL GROUP, INC. (SMFG) 166.000 SHARES 932 1,607
SURMODICS, INC. (SRDX) 241.000 SHARES 8,372 8,760
SVENSKA HANDELSBANKEN AB (PUBL) (SVNLY) 752.000 SHARES 3,973 4,059
SYNOPSYS, INC. (SNPS) 15.000 SHARES 4,686 7,724
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED (TSM) 437.000 SHARES 34,938 57,954
TAKEDA PHARMACEUTICAL COMPANY LIMITED (TAK) 247.000 SHARES 3,206 3,525
TARGA RESOURCES CORP. (TRGP) 31.000 SHARES 2,272 2,693
TENCENT HOLDINGS LIMITED (TCEHY) 706.000 SHARES 39,627 29,158
TERADYNE, INC. (TER) 112.000 SHARES 12,210 12,154
TESLA, INC. (TSLA) 141.000 SHARES 22,366 35,036
TEXAS INSTRUMENTS INCORPORATED (TXN) 44.000 SHARES 6,002 7,500
THE ALLSTATE CORPORATION (ALL) 167.000 SHARES 20,217 23,377
THE BANK OF NEW YORK MELLON CORPORATION (BK) 137.000 SHARES 6,337 7,131
THE BOEING COMPANY (BA) 148.000 SHARES 25,527 38,578
THE BOSTON BEER COMPANY, INC. (SAM) 26.000 SHARES 8,711 8,985
THE COCA-COLA COMPANY (KO) 196.000 SHARES 11,027 11,550
THE DESCARTES SYSTEMS GROUP INC. (DSGX) 85.000 SHARES 6,490 7,145
THE HOME DEPOT, INC. (HD) 64.000 SHARES 17,077 22,179
THE PNC FINANCIAL SERVICES GROUP, INC. (PNC) 101.000 SHARES 13,440 15,640
THE PROCTER & GAMBLE COMPANY (PG) 135.000 SHARES 17,870 19,783
THE SOUTHERN COMPANY (SO) 113.000 SHARES 7,785 7,924
THE WALT DISNEY COMPANY (DIS) 208.000 SHARES 24,309 18,780
THE WENDY'S COMPANY (WEN) 251.000 SHARES 5,262 4,889
THERMO FISHER SCIENTIFIC INC. (TMO) 18.000 SHARES 9,726 9,554
TOWNEBANK (TOWN) 455.000 SHARES 11,329 13,541
TRANE TECHNOLOGIES PLC (TT) 41.000 SHARES 4,821 10,000
TREX COMPANY, INC. (TREX) 178.000 SHARES 9,000 14,737
TRI POINTE HOMES, INC. (TPH) 414.000 SHARES 7,913 14,656
TRIMAS CORPORATION (TRS) 308.000 SHARES 7,608 7,802
TYLER TECHNOLOGIES, INC. (TYL) 31.000 SHARES 10,987 12,962
UBS GROUP AG (UBS) 43.000 SHARES 787 1,329
UNICREDIT S.P.A. (UNCRY) 472.000 SHARES 2,658 6,429
UNIFIRST CORPORATION (UNF) 64.000 SHARES 12,734 11,706
UNILEVER PLC (UL) 156.000 SHARES 7,501 7,563
UNION PACIFIC CORPORATION (UNP) 80.000 SHARES 15,158 19,650
UNITED BANKSHARES, INC. (UBSI) 394.000 SHARES 12,665 14,795
UNITED COMMUNITY BANKS, INC. (UCB) 283.000 SHARES 6,701 8,281
UNITED OVERSEAS BANK LIMITED (UOVEY) 63.000 SHARES 2,671 2,727
UNITED PARCEL SERVICE, INC. (UPS) 78.000 SHARES 13,234 12,264
UNITEDHEALTH GROUP INCORPORATED (UNH) 29.000 SHARES 12,451 15,268
VALEO SE (VLEEY) 182.000 SHARES 1,542 1,409
VALERO ENERGY CORPORATION (VLO) 153.000 SHARES 13,852 19,890
VEEVA SYSTEMS INC. (VEEV) 72.000 SHARES 14,800 13,861
VERACYTE, INC. (VCYT) 612.000 SHARES 13,845 16,836
VERRA MOBILITY CORPORATION (VRRM) 925.000 SHARES 13,356 21,303
VERTEX PHARMACEUTICALS INCORPORATED (VRTX) 44.000 SHARES 9,696 17,903
VESTAS WIND SYSTEMS A/S (VWDRY) 454.000 SHARES 4,022 4,762
VINCI SA (VCISY) 98.000 SHARES 2,013 3,091
VISA INC. (V) 198.000 SHARES 40,988 51,549
VISTEON CORPORATION (VC) 67.000 SHARES 7,755 8,368
VITAL FARMS, INC. (VITL) 1,144.000 SHARES 17,087 17,949
VULCAN MATERIALS COMPANY (VMC) 107.000 SHARES 17,868 24,290
WAL-MART DE MXICO, S.A.B. DE C.V. (WMMVY) 147.000 SHARES 5,478 6,206
WALMART INC. (WMT) 116.000 SHARES 16,315 18,287
WASTE MANAGEMENT, INC. (WM) 44.000 SHARES 5,378 7,880
WATSCO, INC. (WSO) 39.000 SHARES 10,722 16,710
WEC ENERGY GROUP, INC. (WEC) 62.000 SHARES 6,039 5,219
WEG S.A. (WEGZY) 1,082.000 SHARES 6,321 8,310
WELLS FARGO & COMPANY (WFC) 348.000 SHARES 16,070 17,129
WEYERHAEUSER COMPANY (WY) 282.000 SHARES 8,457 9,805
WORKDAY, INC. (WDAY) 30.000 SHARES 4,316 8,282
WUXI BIOLOGICS (CAYMAN) INC. (WXXWY) 463.000 SHARES 7,443 3,449
XINYI SOLAR HOLDINGS LIMITED (XISHY) 149.000 SHARES 4,629 1,732
YUM CHINA HOLDINGS, INC. (YUMC) 274.000 SHARES 12,850 11,626
YUM! BRANDS, INC. (YUM) 59.000 SHARES 6,131 7,709
ZIMMER BIOMET HOLDINGS, INC. (ZBH) 136.000 SHARES 18,353 16,551
ZURN ELKAY WATER SOLUTIONS CORPORATION (ZWS) 648.000 SHARES 14,357 19,058

TY 2023 InvestmentsGovtObligationsSch
Name:
THE GRASS FOUNDATION
EIN:
04-6049529
US Government Securities - End of Year Book Value:

930,592
US Government Securities - End of Year Fair Market Value:

926,852
State & Local Government Securities - End of Year Book Value:


0
State & Local Government Securities - End of Year Fair Market Value:


0


TY 2023 InvestmentsOtherSchedule2
Name:
THE GRASS FOUNDATION
EIN:
04-6049529
Category/ Item Listed at Cost or FMV Book Value End of Year Fair Market Value
ABBEY CAPITAL FUTURES STRATEGY I (ABYIX) 29,089.376 SHARES AT COST 345,000 323,474
AQR DIVERSIFIED ARBITRAGE R6 (QDARX) 18,257.261 SHARES AT COST 220,000 217,079
ARK AUTONOMOUS TECHNOLOGY & ROBOTICS ETF (ARKQ) 1,968.000 SHARES AT COST 149,868 113,554
BAIRD SHORT-TERM BOND INST (BSBIX) 27,331.280 SHARES AT COST 252,382 257,187
BLACKROCK EVENT DRIVEN EQUITY FUND (BILPX) 22,380.468 SHARES AT COST 220,000 223,581
BLACKROCK GLOBAL EQUITY MARKET NEUTRAL FUND (BGCKX) 15,127.389 SHARES AT COST 190,000 191,513
BRANDYWINEGLOBAL GLOBAL OPP BOND IS (GOBSX) 27,840.909 SHARES AT COST 245,000 261,148
CFI MULTI-STRATEGY BOND FUND, LLC AT COST 4,888,738 3,837,097
COMMONFUND CAPITAL PARTNERS IX, L.P. AT COST 239,250 217,185
COMMONFUND CAPITAL PARTNERS VII, L.P. AT COST 709,074 1,133,562
COMMONFUND CAPITAL PARTNERS VIII, L.P. AT COST 575,863 686,203
COMMONFUND INSTITUTIONAL MULTI-STRATEGY EQUITY FUND LLC AT COST 7,354,421 7,908,731
FIRST TRUST NASDAQ CYBERSECURITY ETF (CIBR) 2,910.000 SHARES AT COST 150,100 156,674
ISHARES CORE MSCI EAFE ETF (IEFA) 2,753.000 SHARES AT COST 167,393 193,674
ISHARES CORE S&P 500 ETF (IVV) 2,767.000 SHARES AT COST 940,970 1,321,602
ISHARES RUSSELL 2000 ETF (IWM) 1,086.000 SHARES AT COST 222,421 217,971
ISHARES RUSSELL MID-CAP ETF (IWR) 8,708.000 SHARES AT COST 576,792 676,873
MARTIN CURRIE SMA-SHARES SERIES EM (LCSMX) 17,238.299 SHARES AT COST 175,162 176,348
NEUBERGER BERMAN LONG SHORT FUND (NLSIX) 16,445.42 SHARES AT COST 251,298 286,973
PGIM HIGH YIELD R6 (PHYQX) 67,930.483 SHARES AT COST 340,155 321,990
SHENKMAN CAPITAL SHORT DUR HI INC F (SCFFX) 19,414.178 SHARES AT COST 187,597 189,677

TY 2023 OtherExpensesSchedule
Name:
THE GRASS FOUNDATION
EIN:
04-6049529
Description Revenue and Expenses per Books Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
DUES AND SUBSCRIPTIONS 265 0   265
FILING FEES 250 0   250
INSURANCE 1,786 0   1,786
OFFICE AND OTHER EXPENSES 15,401 0   15,689
OTHER K-1 EXPENSES, NET OF UBI 0 120,664   0
PENALTIES 498 0   0


TY 2023 OtherIncomeSchedule2
Name:
THE GRASS FOUNDATION
EIN:
04-6049529
Description Revenue And Expenses Per Books Net Investment Income Adjusted Net Income
OTHER K-1 INCOME, NET OF UBI 0 -351,430 0
FEDERAL FORM 1042 REFUND 9,994   9,994


TY 2023 OtherLiabilitiesSchedule
Name:
THE GRASS FOUNDATION
EIN:
04-6049529
Description Beginning of Year - Book Value End of Year - Book Value
DUE TO BROKER 0 120,513


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TY 2023 OtherNotesLoansRcvblLongSch
Name:
THE GRASS FOUNDATION
EIN:
04-6049529

Borrower's Name Relationship to Insider Original Amount of Loan Balance Due Date of Note Maturity Date Repayment Terms Interest Rate Security Provided by Borrower Purpose of Loan Description of Lender Consideration Consideration FMV
CATALYTIC IMPACT FOUNDATION NONE 150,000 104,615 2023-09 2027-09 FIVE ANNUAL PAYMENTS OF $30,000 TO BE RECEIVED ON OR BEFORE SEPTEMBER 15TH 0 % NONE OPERATING EXPENSES NONE 0

TY 2023 OtherProfessionalFeesSchedule
Name:
THE GRASS FOUNDATION
EIN:
04-6049529
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
INVESTMENT MANAGEMENT AND ADVISORY 98,372 98,372   0
OTHER (MISC) 25,821 0   25,821


TY 2023 TaxesSchedule
Name:
THE GRASS FOUNDATION
EIN:
04-6049529
Category Amount Net Investment Income Adjusted Net Income Disbursements for Charitable Purposes
FEDERAL EXCISE TAX PAID 22,000 0   0
FEDERAL UBI TAX PAID 2,600 0   0
FOREIGN TAXES THRU K-1S, NET OF UBI 0 137   0
STATE UBI TAX PAID 1,710 0   0