| Description of Property | Date Acquired | Cost or Other Basis | Prior Years' Depreciation | Computation Method | Rate / Life (# of years) |
Current Year's Depreciation Expense | Net Investment Income | Adjusted Net Income | Cost of Goods Sold Not Included |
|---|
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AECOM - 5.125% - 03/15/2027 | 27,885 | 24,818 |
| ALLY FINANCIAL - 5.750% - 11/2 | 40,842 | 41,884 |
| ALTRIA GROUP - 4.800% - 02/14/ | 2,855 | 2,992 |
| ALTRIA GROUP INC - 4.400% - 02 | 19,802 | 17,840 |
| AMERICAN TOWER CORP - 3.375% - | 3,362 | 2,875 |
| AMERICAN TOWER CORP NT - 3.800 | 12,094 | 10,450 |
| AT&T - 4.250% - 03/01/2027 | 26,854 | 22,757 |
| BANK AMER CORP FR - 4.200% - 0 | 34,290 | 30,708 |
| BANK OF AMERICA - 6.250% - 12/ | 31,542 | 27,772 |
| BANK OF AMERICA CORP - PERPETU | 31,494 | 27,676 |
| BLOCK FINL LLC - 2.500% - 07/1 | 7,118 | 7,142 |
| BLOCK FINL LLC - 3.875% - 08/1 | 5,245 | 5,494 |
| BOEING CO - 4.875% - 05/01/202 | 42,383 | 41,793 |
| BOYD GAMING - 4.750% - 12/01/2 | 65,087 | 60,603 |
| BROADCOM CORP/BROADCOM CAYMAN | 18,929 | 19,519 |
| CARLISLE COS INC NOTE CALL - 3 | 22,975 | 22,557 |
| CBS CORP - 4.000% - 01/15/2026 | 40,669 | 41,944 |
| CDW CORP - 3.250% - 02/15/2029 | 15,000 | 13,716 |
| CDW LLC / CDW FIN CORP - 4.250 | 11,278 | 10,534 |
| CHARLES SCHWAB CORP - 5.000% - | 13,278 | 13,454 |
| CITIGROUP INC BOND - 6.250% - | 33,710 | 29,610 |
| CITIGROUP INC BOND PERPETUAL - | 11,897 | 12,146 |
| CROWN AMERS LLC - 4.250% - 09/ | 11,921 | 10,670 |
| DANA INC NOTE CALL MAKE WHOLE | 33,635 | 30,563 |
| DANA INCORPORATED - 5.375% - 1 | 26,625 | 24,828 |
| DISCOVERY COMMS LLC 3/20/2028 | 21,299 | 18,083 |
| DISCOVERY COMMS LLC 6/15/2025 | 3,245 | 2,935 |
| DISNEY WALT CO SER C - 3.700% | 24,065 | 23,573 |
| DOLLAR TREE INC - 4.200% - 05/ | 22,698 | 20,556 |
| ELANCO ANIMAL HEALTHINC - 4.90 | 4,763 | 5,181 |
| ELECTRONIC ARTS INC NOTE - 4.8 | 46,540 | 42,072 |
| ENCOMPASS HEALTH CORP - 4.500% | 28,194 | 25,837 |
| EXPEDIA GROUP INC - 3.800% - 0 | 3,836 | 3,860 |
| EXPEDIA GROUP INC SER B NOTE - | 2,820 | 2,987 |
| GOLDMAN SACHS GROUP - 5.500% - | 12,589 | 12,813 |
| GOLDMAN SACHS PERP - 5.300% - | 31,592 | 28,340 |
| HCA INC - 5.375% - 02/01/2025 | 42,672 | 41,944 |
| HCA INC - 5.375% - 09/01/2026 | 5,325 | 5,026 |
| HCA INC - 5.625% - 09/01/2028 | 17,803 | 16,388 |
| INGERSOL RAND LUXEMBOURG - 0.0 | 43,658 | 41,808 |
| JP MORGAN CHASE - 4.600% - 12/ | 40,139 | 42,461 |
| JP MORGAN CHASE NOTE - 0.000% | 15,705 | 15,935 |
| JP MORGAN CHASE PERP SR NT - 6 | 16,087 | 15,968 |
| JUNIPER NETWORKS INC - 3.750% | 39,269 | 33,232 |
| KRAFT HEINZ FOODS - 3.000% - 0 | 3,173 | 2,883 |
| KRAFT HEINZ FOODS - 3.875% - 0 | 20,415 | 18,647 |
| L BRANDS INC - 7.500% - 06/15/ | 23,185 | 23,898 |
| LAMAR MEDIA CORP SER B NOTE - | 27,710 | 26,316 |
| MICROCHIP TECHNOLOGYINC. SER B | 27,365 | 25,613 |
| MICRON TECHNOLOGY INC - 4.975% | 41,842 | 36,990 |
| MOLSON COORS BEVERAGE CO NOTE | 24,318 | 22,040 |
| MOTOROLA SOLUTIONS INC - 4.000 | 2,995 | 2,968 |
| MOTOROLA SOLUTIONS INC NOTE - | 8,628 | 8,940 |
| NETFLIX INC - 5.875% - 11/15/2 | 62,457 | 53,695 |
| NORDSTROM - 4.250% - 08/01/203 | 25,074 | 27,455 |
| NORDSTROM INC - 4.000% - 03/15 | 22,140 | 24,220 |
| OLIN CORP NOTE - 5.625% - 08/0 | 16,493 | 17,714 |
| OLIN CORP NOTE CALL - 5.125% - | 7,440 | 7,807 |
| ORACLE CORP NOTE - 6.250% - 11 | 19,715 | 20,701 |
| OSHKOSH CORP - 3.100% - 03/01/ | 56,628 | 48,684 |
| PULTEGROUP INC - 5.500% - 03/0 | 40,405 | 36,338 |
| QORVO INC - 4.350% - 10/15/202 | 27,333 | 23,719 |
| QVC INC - 4.450% - 02/15/2025 | 5,895 | 5,632 |
| QVC INC - 4.850% - 04/01/2024 | 5,069 | 4,950 |
| QVC INC NOTE - 4.750% - 02/15/ | 10,500 | 9,499 |
| REYNOLDS AMERICAN - 4.450% - 0 | 20,204 | 19,770 |
| SBA COMMS CORP SER B - 3.125% | 16,128 | 17,074 |
| SBA COMMS CORP SER B - 3.875% | 6,240 | 5,764 |
| SERVICE CORP INTL - 5.125% - 0 | 15,288 | 13,720 |
| SERVICE CORP INTL NOTE - 4.625 | 12,690 | 11,610 |
| SILGAN HOLDINGS - 4.125% - 02/ | 27,045 | 24,831 |
| STARBUCKS CORP COM - 3.550% - | 51,275 | 43,413 |
| STEEL DYNAMICS INC SER B - 5.0 | 44,807 | 42,254 |
| SYNCHRONY FINANCIAL - 4.250% - | 41,072 | 41,536 |
| TEGNA INC SER B NOTE - 4.625% | 27,509 | 25,220 |
| TELEFLEX INC - 4.625% - 11/15/ | 28,441 | 26,366 |
| TENET HEALTHCARE CORP SER B NO | 24,438 | 25,926 |
| TOTAL SYSTEMS SERVICES - 4.800 | 23,285 | 20,822 |
| TRANSDIGM INC SER B NOTE - 5.5 | 24,520 | 26,444 |
| TREEHOUSE FOODS INC - 4.000% - | 15,223 | 15,048 |
| UNITED RENTALS - 5.500% - 05/1 | 4,276 | 4,009 |
| UNITED RENTALS NORTHAMER INC - | 14,419 | 14,629 |
| VISA INC NOTE - 3.150% - 12/14 | 40,174 | 37,084 |
| WELLS FARGO & CO NEW DEPOSITAR | 31,551 | 27,735 |
| WELLS FARGO - 5.900% - 06/15/2 | 42,762 | 41,529 |
| WESTINGHOUSE AIR BRAKE TECHNOL | 21,697 | 19,794 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ABBOTT LABS | 54,313 | 74,297 |
| ABBVIE INC | 30,916 | 47,576 |
| ACCENTURE PLC | 35,298 | 98,957 |
| ADOBE SYSTEMS, INC | 70,928 | 159,292 |
| ADVANTEST CORP - ADR | 7,048 | 6,075 |
| ADYEN N.V. | 16,431 | 12,648 |
| AIRBNB | 95,774 | 84,135 |
| ALIGN TECHNOLOGY, INC | 15,635 | 20,002 |
| ALLEGION PLC | 38,115 | 34,713 |
| ALPHABET INC CL A | 17,332 | 20,534 |
| ALPHABET INC CL C | 44,667 | 156,573 |
| AMAZON COM | 291,555 | 333,963 |
| AMERICAN ELECTRIC POWER INC | 32,671 | 32,569 |
| ANSYS INC | 36,822 | 46,086 |
| AON PLC CL A | 9,237 | 10,477 |
| APPLE INC | 26,678 | 38,121 |
| ARCH CAPITAL GROUP LTD | 6,956 | 7,873 |
| ASM INTERNATIONAL NV | 6,398 | 10,384 |
| ASML HOLDING NV NY REG SHS | 12,310 | 14,381 |
| ASPEN TECHNOLOGY INC COM | 33,715 | 38,306 |
| ASTRAZENECA | 8,995 | 9,160 |
| ATLAS COPCO AB A SHS ADR | 7,041 | 7,917 |
| ATLASSIAN CORP CL A | 14,830 | 14,985 |
| AUTODESK, INC | 67,991 | 69,392 |
| AVALONBAY CMNTYS INC | 42,989 | 50,175 |
| BAE SYSTEMS PLC | 10,082 | 11,159 |
| BENTLEY SYSTEMS INC CL B | 62,728 | 55,154 |
| BERKLEY W R CP | 27,896 | 39,886 |
| BERKSHIRE HATHAWAY INC. CLASS | 175,874 | 312,790 |
| BRIGHT HORIZONS FAMILY SOLUTIO | 36,438 | 26,670 |
| CANADIAN NATURAL RESOURCES LTD | 6,547 | 6,749 |
| CANADIAN PACIFIC RAILWAY LTD | 17,781 | 18,342 |
| CATERPILLAR INC | 22,994 | 36,959 |
| CHARLES RIV LABORATORIES INTL | 65,443 | 41,843 |
| CHEMED CORP | 26,124 | 32,161 |
| CHOICE HOTELS INTERNATIONAL IN | 26,770 | 24,586 |
| CHURCH & DWIGHT | 24,512 | 27,895 |
| CISCO SYSTEMS INC | 13,787 | 13,135 |
| CITIGROUP INC | 31,440 | 33,590 |
| COLGATE-PALMOLIVE COMPANY | 30,286 | 32,841 |
| COMPASS GROUP PLC ADR | 7,099 | 6,953 |
| COOPER COMPANIES INC | 49,939 | 50,711 |
| COSTCO WHOLESALE CORPORATION | 22,951 | 32,344 |
| CRANE CO | 24,259 | 50,328 |
| CRANE NXT ORD SHS | 11,445 | 21,895 |
| DANAHER CORP | 29,693 | 38,402 |
| DIAGEO PLC ADS | 24,749 | 26,947 |
| DISCOVER FINL SVCS COM | 24,098 | 25,740 |
| DOLBY LABORATORIES | 31,387 | 36,196 |
| DOLLAR GENERAL CORP | 46,133 | 43,504 |
| DOW INC | 26,091 | 33,123 |
| DUKE ENERGY CO | 40,866 | 45,512 |
| ELECTRONIC ARTS | 37,806 | 41,043 |
| ELI LILLY & CO | 21,469 | 20,985 |
| EOG RESOURCES INC | 32,861 | 30,721 |
| EPAM SYSTEMS INC | 9,611 | 5,947 |
| EQT CORPORATION | 27,661 | 21,727 |
| EQUIFAX INC | 41,541 | 43,028 |
| ERICSSON L M TEL CO | 18,877 | 11,397 |
| EVOLUTION GAMING GROUP AB ADR | 12,706 | 10,150 |
| EXPERIAN GROUP LTD S/ADR | 8,900 | 9,941 |
| EXPONENT, INC | 33,383 | 32,047 |
| FAIR ISSAC & CO INC | 13,157 | 30,264 |
| FERGUSON PLC | 8,586 | 11,198 |
| FERRARI NV | 9,967 | 16,245 |
| FIRST TRUST NASDAQ CYBERSECURI | 26,625 | 36,665 |
| FORTINET INC | 19,236 | 23,412 |
| GARTNER INC | 14,206 | 51,878 |
| HENRY JACK & ASSOC INC | 37,301 | 37,094 |
| HONEYWELL INTL | 31,890 | 35,860 |
| ICICI BK LTD ADS | 8,145 | 8,702 |
| ICON PLC - AMERICAN DEPOSITARY | 12,656 | 15,569 |
| INTERACTIVE BROKERS GROUP, INC | 22,930 | 28,849 |
| INVESCO DYNAMIC PHARMACEUTICAL | 33,025 | 35,691 |
| INVESCO DYNAMIC SEMICONDUCTORS | 30,376 | 52,965 |
| INVESCO S&P GLOBAL WATER INDEX | 25,479 | 30,109 |
| ISHARES MSCI USA MOMENTUM FACT | 151,103 | 166,617 |
| ISHARES MSCI USA QUALITY FACTO | 183,044 | 246,460 |
| JOHNSON & JOHNSON | 41,643 | 43,730 |
| JP MORGAN CHASE | 23,184 | 40,654 |
| JP MORGAN CHASE & CO PFD SER D | 21,261 | 21,350 |
| JPMORGAN CHASE & CO 6.00% PFD | 26,193 | 24,449 |
| KAYNE ANDERSON MLP INV CO | 60,792 | 62,154 |
| KEURIG DR PEPPER INC | 27,487 | 32,354 |
| L'OREAL ADR | 8,435 | 9,046 |
| LABORATORY CORP AMER HLDGS | 7,338 | 27,048 |
| LENNOX INTL INC | 40,260 | 51,465 |
| LI-CYCLE HOLDINGS CORP | 1,029 | 110 |
| LINDE PLC COM | 6,989 | 9,036 |
| LOCKHEED MARTIN CORP | 25,510 | 32,180 |
| LPL FINANCIAL HOLDINGS INC | 24,572 | 41,427 |
| LVMH MOET HENN UNSP | 8,426 | 9,260 |
| MARSH AND MCLENNAN COMPANIES I | 21,907 | 36,189 |
| MARVELL TECHNOLOGY, INC | 12,802 | 13,570 |
| MASTERCARD INC | 68,848 | 106,628 |
| MCDONALD'S CORP | 26,597 | 41,215 |
| MERCADOLIBRE, INC | 12,759 | 14,144 |
| MICRON TECHNOLOGY | 16,503 | 17,665 |
| MICROSOFT CORP | 130,778 | 276,012 |
| MORGAN STANLEY FINANCE T-GEARS | 600,002 | 713,998 |
| MORGAN STANLEY PFD SER E - 7.1 | 32,085 | 27,649 |
| NESTLE S.A | 9,259 | 9,250 |
| NETFLIX INC | 67,243 | 112,956 |
| NIKE INC-CL B | 36,019 | 60,799 |
| NOKIA | 14,075 | 9,049 |
| NORDSON CP | 39,720 | 47,813 |
| NORFOLK SOUTHERN CORP | 21,883 | 29,075 |
| NOVO NORDISK A S | 51,173 | 64,967 |
| ORACLE CORP | 31,729 | 48,392 |
| PALO ALTO NETWORKS INC | 15,243 | 36,270 |
| PAYCHEX | 17,882 | 24,537 |
| PAYPAL HOLDINGS, INC | 102,621 | 77,868 |
| PEPSICO INC | 29,565 | 31,760 |
| POOL CORP | 60,991 | 55,421 |
| RAYTHEON TECHNOLOGIES CORP | 27,145 | 36,517 |
| REGENERON PHARMACEUTICALS INC | 12,499 | 22,836 |
| REPUBLIC SVCS INC | 19,352 | 33,312 |
| ROCKWELL AUTOMATION INC | 15,163 | 16,455 |
| ROLLINS INC | 29,668 | 37,382 |
| ROPER INDUSTRIES | 10,818 | 12,539 |
| SAFRAN SA - UNSPON ADR | 10,095 | 9,973 |
| SAIA, INC | 20,405 | 32,867 |
| SALESFORCE.COM | 95,531 | 130,781 |
| SAP AKTIENGESELL ADS | 17,259 | 20,560 |
| SCHNEIDER ELEC UNSP/ADR | 5,719 | 7,362 |
| SCOTTS CO. CLASS A | 67,952 | 22,695 |
| SELECT SECTOR SPDR ENERGY FUND | 38,594 | 38,734 |
| SELECT SECTOR SPDR UTILITIES | 53,573 | 53,451 |
| SERVICE NOW | 96,883 | 200,643 |
| SIEMENS AG | 13,552 | 15,995 |
| SITEONE LANDSCAPE SUPPLY INC | 36,093 | 33,963 |
| SPDR S&P AEROSPACE AND DEFENSE | 66,114 | 81,387 |
| SPLUNK INC | 17,429 | 20,110 |
| STERIS PLC | 8,459 | 9,454 |
| STRYKER CORPORATION | 26,160 | 35,935 |
| T-MOBILE US INC | 24,949 | 33,349 |
| TELEDYNE TECH INC | 33,713 | 33,918 |
| TERADYNE INC | 48,486 | 39,393 |
| THE COCA-COLA CO | 69,087 | 85,036 |
| THE HERSHEY COMPANY | 42,110 | 38,220 |
| THERMO FISHER SCIENTIFIC INC | 60,756 | 58,387 |
| THOMSON REUTERS CORPORATION - | 6,149 | 7,603 |
| THOR INDS INC | 43,397 | 45,290 |
| UBS AG | 7,585 | 7,663 |
| UNION PACIFIC | 33,174 | 36,843 |
| UNITED PARCEL SERVICE | 26,435 | 25,943 |
| UNITEDHEALTH GROUP INC | 52,370 | 81,603 |
| VANGUARD FIN ETF | 69,023 | 83,126 |
| VERIZON COMMUNICATIONS | 37,913 | 31,593 |
| VERTEX PHARMCTLS INC | 14,750 | 26,448 |
| VISA INC | 70,600 | 131,216 |
| WAL-MART STORES INC | 28,187 | 37,205 |
| WALT DISNEY HOLDINGS CO | 49,051 | 42,075 |
| WASATCH EMERGING INDIA FUND | 25,944 | 31,171 |
| WASTE CONNECTIONS | 7,400 | 8,061 |
| WASTE MANAGEMENT INC | 32,516 | 40,477 |
| WATSCO INC | 28,426 | 42,847 |
| WELLS FARGO ADV ULTRA SHORT TE | 1,628 | 1,635 |
| WELLS FARGO COMPANY PREFERRED | 10,691 | 11,001 |
| WELLS FARGO PFD SER R - 6.625% | 15,121 | 15,154 |
| WORKDAY INC | 41,631 | 51,623 |
| YUM BRANDS INC | 15,757 | 21,820 |
| ZEBRA TECHNOLOGIES CORP | 69,503 | 35,806 |
| ZOETIS INC | 22,968 | 56,843 |
| ZURN WATER SOLUTIONS | 26,317 | 34,321 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| APOLLO DEBT SOLUTIONS | 73,047 | 74,987 | |
| BLACKSTONE PRIVATE CREDIT FUND | 151,500 | 148,828 | |
| BLACKSTONE REAL ESTATE INCOME | 151,500 | 177,192 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Administrative Fees | 29,583 | 29,583 | ||
| Bank Charges | 211 | 211 | ||
| State or Local Filing Fees | 25 | 25 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Investment Management Services | 75,007 | 75,007 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| 990-PF Estimated Tax for 2023 | 4,300 | |||
| 990-PF Extension for 2022 | 100 | |||
| Foreign Tax Paid | 866 | 866 |