| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 3,300 | 1,650 | 1,650 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ALEXANDRIA REAL ESTATE EQ INC B/E 1.875% DUE 02/01/33 | 18,024 | 19,263 |
| AT&T INC B/E 4.35% DUE 03/01/29 | 23,777 | 24,472 |
| BANK OF AMERICA CORP B/E 4.948% DUE 07/22/28 MTN | 24,327 | 25,048 |
| BEAZER HOMES USA INC B/E 5.875% DUE 10/15/27 | 3,879 | 3,948 |
| BLOCK INC B/E 2.75% DUE 06/01/26 | 3,748 | 3,854 |
| BOYD GAMING CORP B/E 4.75% DUE 12/01/27 | 11,210 | 11,601 |
| CANADIAN PAC RY CO NEW FGN 2.45% DUE 12/02/31 | 21,600 | 21,323 |
| CHURCH & DWIGHT CO INC B/E 2.3% DUE 12/15/31 | 20,377 | 20,929 |
| CITIGROUP INC B/E 4.658% DUE 05/24/28 | 24,173 | 24,841 |
| COVANTA HLDG CORP B/E 5% DUE 09/01/30 | 10,964 | 11,988 |
| D R HORTON INC B/E 1.4% DUE 10/15/27 | 8,585 | 9,134 |
| DANA INC B/E 5.375% DUE 11/15/27 | 10,421 | 10,842 |
| EXPAND ENERGY CORPORATION B/E 5.375% DUE 02/01/29 | 12,143 | 12,806 |
| FEDEX CORP B/E 2.4% DUE 05/15/31 | 20,473 | 21,328 |
| FLOWER FOODS INC B/E 2.4% DUE 03/15/31 | 10,048 | 10,164 |
| FORD MTR CO DEL B/E 4.36% DUE 12/08/26 | 11,523 | 11,812 |
| FREEPORT MCMORAN INC B/E 4.55% DUE 11/14/24 | 13,576 | 13,570 |
| GOLDMAN SACHS GROUP INC B/E 3.85% DUE 01/26/27 | 23,620 | 24,535 |
| GOODYEAR TIRE & RUBR CO B/E 5.25% DUE 04/30/31 | 11,282 | 11,597 |
| HILLENBRAND INC B/E 5% DUE 09/15/26 | 11,741 | 11,884 |
| HOME DEPOT INC B/E 2.95% DUE 06/15/29 | 22,564 | 23,185 |
| HOWMET AEROSPACE INC B/E 3% DUE 01/15/29 | 10,427 | 11,137 |
| JPMORGAN CHASE & CO B/E 4.851% DUE 07/25/28 | 24,439 | 24,998 |
| KRAFT HEINZ FOODS CO B/E 4.375% DUE 06/01/46 | 20,720 | 20,244 |
| LAS VEGAS SANDS CORP B/E 6.2% DUE 07/15/33 | 2,020 | 2,014 |
| LOWES COS INC B/E 4.5% DUE 04/15/30 | 24,007 | 24,524 |
| MACYS RETAIL HLDGS LLC B/E 4.5% DUE 12/15/34 | 7,333 | 8,322 |
| MARRIOTT INTL INC NEW B/E 10/15/27 | 24,646 | 25,202 |
| MGM RESORTS INTERNATIONAL B/E 4.625% DUE 09/01/26 | 11,218 | 11,833 |
| MURPHY OIL USA INC B/E 5.625% DUE 05/01/24 | 11,634 | 11,908 |
| NETFLIX INC B/E 4.875% DUE 04/15/28 | 24,546 | 25,100 |
| NIKE INC B/E 2.85% DUE 03/27/30 | 22,268 | 22,770 |
| OLIN CORP B/E 5.125% DUE 09/15/27 | 3,864 | 3,915 |
| PACKAGING CORP AMER B/E 3% DUE 12/15/29 | 21,587 | 22,795 |
| PBF HLDG CO LLC / PBF FIN CORP B/E 6% DUE 02/15/28 | 1,959 | 1,918 |
| PILGRIMS PRIDE CORP B/E 4.25% DUE 04/15/31 | 3,326 | 3,686 |
| QORVO INC B/E 4.375% DUE 10/15/29 | 10,773 | 11,254 |
| REPUBLIC SVCS INC B/E 2.3% DUE 03/01/30 | 21,095 | 21,958 |
| ROYAL CARIBBEAN GROUP B/E 7.5% DUE 10/15/27 | 3,177 | 3,147 |
| SEAGATE HDD CAYMAN FGN 4.75% DUE 01/01/25 | 12,738 | 13,000 |
| SERVICE CORP INTL B/E 5.125% DUE 06/01/29 | 3,939 | 3,870 |
| SIX FLAGS ENTERTAINMENT CORP B/E 6.5% DUE 10/01/28 | 3,040 | 3,007 |
| SYSCO CORP B/E 2.4% DUE 02/15/30 | 21,058 | 22,051 |
| T MOBILE USA INC B/E 5.05% DUE 07/15/33 | 24,114 | 24,485 |
| TENET HEALTHCARE CORP B/E 6.125% DUE 10/01/28 | 2,019 | 1,996 |
| TEVA PHARMACEUTICAL FIN NETH FGN 3.15% DUE 10/01/26 | 11,552 | 12,492 |
| TOLL BROS FIN CORP B/E 3.8% DUE 11/01/29 | 10,622 | 11,294 |
| UNION PAC CORP B/E 3.95% DUE 09/10/28 | 24,010 | 24,325 |
| UNITED RENTALS NORTH AMER INC B/E 5.25% DUE 01/15/30 | 11,298 | 11,659 |
| WASTE CONNECTIONS INC FGN 2.6% DUE 02/01/30 | 21,439 | 22,360 |
| WASTE MGMT INC DEL B/E 2% DUE 06/01/29 | 21,132 | 22,209 |
| WELLS FARGO & CO B/E 4.15% DUE 01/24/29 MTN | 23,352 | 24,236 |
| WRKCO INC B/E 3% DUE 06/15/33 | 20,013 | 20,999 |
| YUM BRANDS INC B/E 3.625% DUE 03/15/31 | 11,007 | 11,493 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ACADIA HEALTHCARE COMPANY INC | 6,513 | 5,155 |
| ADIENT PLC ORD SHS | 2,585 | 2,498 |
| ADOBE SYSTEMS INCORPORATED | 27,417 | 35,130 |
| ADVANCED MICRO DEVICES INC | 12,157 | 14,495 |
| ADYEN N V UNSPONSRED ADS | 9,206 | 8,679 |
| AERCAP HOLDINGS NV | 20,092 | 37,132 |
| AFFILIATED MANAGERS GROUP INC | 3,886 | 10,725 |
| AGREE RLTY CORP REIT | 7,380 | 7,679 |
| AIA GROUP LTD SPONSORED ADR | 10,371 | 8,415 |
| AIR LEASE CORP CL A | 3,925 | 7,858 |
| AIR LIQUIDE ADR | 3,878 | 6,966 |
| ALCON AG ORD SHS | 7,721 | 10,272 |
| ALFA LAVAL AB SWEDEN ADR | 4,223 | 10,216 |
| ALLIANZ SE UNSPONSRD ADS | 17,959 | 24,921 |
| ALPHABET INC CAP STK CL C | 65,100 | 83,794 |
| AMAZON COM INC | 16,356 | 72,618 |
| AMBEV SA SPONSORED ADR | 9,210 | 5,824 |
| AMERICAN TOWER CORP NEW REIT | 41,325 | 37,782 |
| AMERIPRISE FINL INC | 13,255 | 47,386 |
| AMPHENOL CORP NEW CL A | 32,413 | 46,115 |
| APIGROUP CORP COM STK | 15,140 | 14,172 |
| APPLE INC | 19,428 | 35,560 |
| APTARGROUP INC | 4,396 | 6,598 |
| ARISTA NETWORKS INC COM SHS | 10,574 | 12,379 |
| ARROW ELECTRS INC | 5,971 | 10,294 |
| ASML HOLDING N V N Y REGISTRY SHS | 12,798 | 13,169 |
| ASSA ABLOY AB ADR | 5,557 | 7,472 |
| ASSURANT INC | 14,901 | 22,601 |
| ATLANTIC UN BANKSHARES CORP | 9,647 | 9,205 |
| ATLAS COPCO AB SP ADR A NEW | 4,344 | 10,500 |
| AZENTA INC | 4,915 | 4,700 |
| BANCO BILBAO VIZCAYA ARGENTARI SPONSORED ADR | 9,100 | 13,929 |
| BERKSHIRE HATHAWAY INC DEL CL B NEW | 23,512 | 50,767 |
| BERRY GLOBAL GROUP INC | 6,251 | 11,835 |
| BHP GROUP LTD SPONSORED ADS | 16,001 | 10,157 |
| BIO RAD LABS INC CL A | 8,827 | 7,556 |
| BJS WHSL CLUB HLDGS INC | 5,231 | 15,547 |
| BLACKSTONE INC | 13,228 | 22,415 |
| BOOZ ALLEN HAMILTON HLDG CORP CL A | 3,399 | 8,752 |
| BRIGHT HORIZONS FAM SOL IN DEL | 7,938 | 8,425 |
| BURLINGTON STORES INC | 7,516 | 12,258 |
| CADENCE DESIGN SYSTEM INC | 9,928 | 13,220 |
| CANADIAN NATL RY CO | 4,074 | 5,482 |
| CARTER'S INC | 4,225 | 2,872 |
| CAVCO INDS INC DEL | 4,030 | 14,726 |
| CCC INTELLIGENT SOLUTIONS HLD | 12,043 | 12,023 |
| CENTENE CORP DEL | 21,897 | 21,021 |
| CHAMPIONX CORPORATION | 3,294 | 4,079 |
| CHART INDS INC | 6,670 | 8,015 |
| CHEVRON CORP NEW | 38,280 | 46,783 |
| CHIPOTLE MEXICAN GRILL INC | 12,054 | 27,135 |
| CHUGAI PHARMACEUTICAL CO LTD ADR CASH | 4,141 | 6,239 |
| CHUGAI PHARMACEUTICAL CO LTD ADR MRGN | 6,394 | 12,281 |
| CHURCHILL DOWNS INC | 7,686 | 8,279 |
| CIGNA CORP NEW | 22,205 | 23,196 |
| CITIGROUP INC COM NEW | 39,506 | 61,028 |
| COGNEX CORP | 11,108 | 8,822 |
| COLOPLAST AS SPONSERED ADS | 6,365 | 5,441 |
| COLUMBUS MCKINNON CORP N Y | 9,040 | 7,151 |
| COMFORT SYS USA INC | 2,592 | 14,418 |
| CONCENTRIX CORP | 10,892 | 3,591 |
| CORPAY INC COM SHS | 32,561 | 37,903 |
| CREDICORP LTD | 5,508 | 7,333 |
| CROWDSTRIKE HLDGS INC CL A | 14,011 | 15,055 |
| CULLEN FROST BANKERS INC | 8,226 | 8,189 |
| CYBERARK SOFTWARE LTD ORD | 8,780 | 18,656 |
| DAIFUKU CO LTD UNSPONSORED ADS | 5,259 | 5,557 |
| DANONE SPONSORED ADR | 39,034 | 38,603 |
| DANAHER CORPORATION | 59,347 | 58,535 |
| DASSAULT SYSTEMES SPONSORED ADR | 17,320 | 16,325 |
| DBS GROUP HOLDINGS LTD SPONSORED ADR | 14,836 | 29,705 |
| DEXCOM INC | 8,229 | 12,754 |
| DISCO CORP UNSPONSORED ADR | 8,433 | 7,626 |
| DOLLAR GEN CORP NEW | 69,906 | 58,154 |
| DORMAN PRODS INC | 6,780 | 13,214 |
| EAGLE MATLS INC | 4,090 | 12,338 |
| EASTGROUP PPTYS INC REIT | 7,365 | 7,062 |
| EBAY INC. | 31,726 | 38,285 |
| ECOLAB INC | 35,096 | 41,006 |
| ELEMENT SOLUTIONS INC | 8,781 | 11,622 |
| ELF BEAUTY INC | 12,339 | 8,286 |
| ENN ENERGY HLDGS LTD UNSPONSORD ADR | 14,647 | 9,131 |
| ENTEGRIS INC | 5,208 | 10,599 |
| EPIROC AKTIEBOLAG UNSPONSRED ADS | 4,875 | 8,715 |
| EXPEDIA GROUP INC COM NEW | 22,995 | 39,129 |
| EXPONENT INC | 2,689 | 5,257 |
| F5 INC | 13,154 | 23,638 |
| FAIRFAX FINL HLDGS LTD SUB VTG | 8,223 | 43,083 |
| FEDERAL SIGNAL CORP | 3,603 | 9,054 |
| FEDEX CORP | 19,276 | 32,634 |
| FIDELITY NATL INFORMATION SVCS | 30,553 | 43,777 |
| FLEX LTD ORD | 6,080 | 28,370 |
| FOMENTO ECONOMICO MEXICANO SAB SPON ADR UNITS | 12,266 | 14,106 |
| GARTNER INC | 37,316 | 38,758 |
| GATES INDUSTRIAL CORPRATIN PLC ORD SHS | 9,293 | 12,692 |
| GEN DIGITAL INC | 23,439 | 26,559 |
| GENERAL MTRS CO | 36,247 | 58,544 |
| GENMAB A/S SPONSORED ADS | 9,084 | 4,988 |
| GENTHERM INC | 10,568 | 6,707 |
| GIBRALTAR INDS INC | 2,379 | 3,240 |
| GLACIER BANCORP INC NEW | 4,104 | 6,529 |
| GLOBAL PMTS INC | 34,203 | 29,696 |
| GLOBANT S A | 12,372 | 11,150 |
| GLOBUS MED INC CL A | 7,937 | 12,985 |
| GRAND CANYON ED INC | 5,259 | 7,371 |
| GROUP 1 AUTOMOTIVE INC | 7,956 | 11,380 |
| GRUPO FINANCIERO BANORTE SAB ADR | 7,630 | 5,746 |
| HAIER SMART HOME CO LTD UNSPONSORED ADR SUBJECT TO CUSTODY FEES | 8,233 | 9,492 |
| HALEON PLC SPON ADS | 16,170 | 18,393 |
| HALOZYME THERAPEUTICS INC | 7,019 | 7,458 |
| HCA HEALTHCARE INC | 10,225 | 23,712 |
| HDFC BANK LTD SPONSORED ADS | 18,225 | 20,180 |
| HEALTHPEAK PROPERTIES INC REIT | 7,523 | 6,507 |
| HENRY SCHEIN INC | 15,375 | 14,601 |
| HEXCEL CORP NEW | 5,327 | 5,894 |
| HOLOGIC INC | 7,403 | 7,209 |
| IDACORP INC | 6,773 | 8,196 |
| IDEX CORP | 11,965 | 11,720 |
| INFINEON TECHNOLOGIES AG SPONSORED ADR | 12,581 | 18,031 |
| INSMED INC COM PAR $.01 | 5,271 | 4,833 |
| INSULET CORP | 11,109 | 10,965 |
| INTEGER HLDGS CORP | 5,169 | 9,011 |
| INTERCONTINENTAL EXCHANGE INC | 19,083 | 22,352 |
| INTRA-CELLULAR THERAPIES INC | 6,429 | 10,189 |
| INTUIT | 57,504 | 59,708 |
| INTUITIVE SURGICAL INC COM NEW | 11,257 | 32,883 |
| ITT INC | 7,161 | 11,288 |
| JAZZ PHARMACEUTICALS PLC SHS USD | 11,217 | 10,221 |
| JOHNSON & JOHNSON | 41,368 | 43,241 |
| JOHNSON CTLS INTL PLC | 30,047 | 34,730 |
| JPMORGAN CHASE & CO COM | 23,210 | 57,291 |
| KINSALE CAP GROUP INC | 3,244 | 8,837 |
| KOMATSU LTD SPON ADR NEW | 6,032 | 8,715 |
| L OREAL CO ADR | 12,799 | 14,927 |
| LANCASTER COLONY CORP | 7,134 | 8,484 |
| LEAR CORP COM NEW | 12,489 | 8,523 |
| LENNAR CORP CL A | 14,195 | 26,592 |
| LIBERTY GLOBAL PLC SHS CL C | 40,001 | 44,755 |
| LIBERTY LATIN AMERICA LTD COM CL C | 2,385 | 545 |
| LINCOLN ELEC HLDGS INC | 5,444 | 7,686 |
| LINDE PLC | 41,052 | 45,216 |
| LITHIA MTRS INC | 12,283 | 14,297 |
| MACOM TECH SOLUTIONS HLDGS INC | 4,667 | 10,912 |
| MAGNA INTL INC | 62,436 | 53,491 |
| MAGNOLIA OIL & GAS CORP CL A | 6,612 | 6,523 |
| MANHATTAN ASSOCIATES INC | 6,542 | 11,891 |
| MANULIFE FINL CORP | 10,533 | 18,610 |
| MARKETAXESS HLDGS INC | 4,771 | 4,521 |
| MARSH & MCLENNAN COS INC | 18,315 | 19,542 |
| MARVELL TECHNOLOGY INC | 9,124 | 17,562 |
| MASTERCARD INCORPORATED CL A | 65,371 | 111,106 |
| MATADOR RES CO | 7,335 | 6,976 |
| MEDPACE HLDGS INC | 6,743 | 6,645 |
| MERCADOLIBRE INC | 18,655 | 28,907 |
| META PLATFORMS INC CL A | 28,473 | 36,887 |
| MICROSOFT CORP | 96,460 | 167,336 |
| NATERA INC | 4,979 | 7,598 |
| NATIONAL STORAGE AFFLIATES TR COM SHS BEN IN REIT | 6,946 | 5,232 |
| NESTLE S A SPONSORED ADR | 14,575 | 12,664 |
| NETFLIX INC | 16,888 | 28,522 |
| NEUROCRINE BIOSCIENCES INC | 7,282 | 10,101 |
| NORDSON CORP | 4,108 | 10,044 |
| NOVOZYMES A/S UNSPONSORED ADR | 4,625 | 5,032 |
| NRG ENERGY INC COM NEW | 14,848 | 35,727 |
| NVIDIA CORPORATION | 2,466 | 67,548 |
| OVINTIV INC | 8,756 | 7,088 |
| P T TELEKOMUNIKASI INDONESIA SPONSORED ADR | 8,950 | 6,860 |
| PALANTIR TECHNOLOGIES INC CL A | 5,383 | 15,050 |
| PALO ALTO NETWORKS INC | 9,608 | 19,652 |
| PAYLOCITY HLDG CORP | 11,519 | 11,170 |
| PAYPAL HLDGS INC | 15,401 | 20,143 |
| PERFORMANCE FOOD GROUP CO | 7,904 | 14,543 |
| PERMIAN RESOURCES CORP CL A COM | 5,899 | 5,277 |
| PING AN INS GROUP CO CHINA LTD SPON ADR REP H | 8,437 | 4,388 |
| PINNACLE FINL PARTNERS INC | 5,625 | 12,011 |
| PIPER SANDLER COMPANIES | 4,211 | 15,897 |
| PORTLAND GEN ELEC CO COM NEW | 6,474 | 6,936 |
| POWER CORP CDA | 33,409 | 59,186 |
| PRIMERICA INC | 10,875 | 15,200 |
| PROCORE TECHNOLOGIES | 7,941 | 9,141 |
| QUAKER HOUGHTON | 6,613 | 6,897 |
| RBC BEARINGS INC | 5,110 | 11,367 |
| RIO TINTO PLC SPONSORED ADR | 8,271 | 10,468 |
| ROCHE HLDG LTD SPONSORED ADR SUBJECT TO CUSTODY FEE | 15,111 | 15,312 |
| RPM INTL INC | 3,080 | 10,952 |
| S&P GLOBAL INC | 46,325 | 52,293 |
| SALESFORCE COM INC | 6,902 | 33,767 |
| SAP SE SPON ADR | 9,922 | 19,697 |
| SCHNEIDER ELECTRIC SE UNSPONSORD ADR | 5,966 | 17,126 |
| SCHNEIDER NATIONAL INC CL B | 5,467 | 6,910 |
| SERVICENOW INC | 12,086 | 69,968 |
| SHELL PLC SPON ADS | 13,831 | 18,482 |
| SHIMANO INC UNSPONSORED ADS | 5,237 | 4,375 |
| SHIONOGI & CO LTD UNSPONSORED ADS | 8,033 | 6,452 |
| SILICON LABORATORIES INC | 4,975 | 7,081 |
| SIMPSON MFG INC | 7,559 | 7,296 |
| SITEONE LANDSCAPE SUPPLY INC | 11,480 | 9,619 |
| SONOVA HOLDING AG UNSPONSORED ADR | 2,960 | 6,699 |
| SONY GROUP CORP SPONSORED ADR | 15,339 | 17,986 |
| STIFEL FINL CORP | 6,019 | 10,714 |
| MEDLST MBS TTL RTN INST CL I | 385,030 | 412,268 |
| DRIEHAUS EMERGING MARKETS | 217,988 | 251,979 |
| FPA NEW INCOME FD | 1,321,692 | 1,300,603 |
| ROYCE SPECIAL EQUITY FD OPEN END | 1,481,951 | 1,198,781 |
| SUN CMNTYS INC REIT | 5,099 | 8,362 |
| SUNCOR ENERGY INC NEW | 17,108 | 33,896 |
| SYMRISE AG UNSPONSORD ADR | 4,726 | 8,055 |
| SYSMEX CORP UNSPONSORED ADR | 13,944 | 13,619 |
| TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS | 8,334 | 26,859 |
| TANDEM DIABETES CARE INC COM NEW | 6,386 | 8,393 |
| TD SYNNEX CORPORATION | 13,736 | 17,826 |
| TECHTRONIC INDS LTD SPONSORED ADR | 6,974 | 6,298 |
| TENCENT HOLDINGS LIMITED UNSPON ADR | 14,056 | 13,348 |
| TEXAS ROADHOUSE INC | 6,165 | 17,862 |
| THE TRADE DESK INC COM CL A | 12,181 | 17,982 |
| THERMO FISHER SCIENTIFIC INC | 62,537 | 59,306 |
| THOR INDS INC | 26,276 | 32,254 |
| TJX COS INC NEW | 37,746 | 47,961 |
| TORO CO | 3,443 | 7,049 |
| TRI POINTE HOMES INC | 8,315 | 7,361 |
| UBER TECHNOLOGIES INC | 30,372 | 42,948 |
| UMB FINL CORP | 5,358 | 6,433 |
| UNICHARM CORP SPONSORED ADR | 8,884 | 4,723 |
| UNITED RENTALS INC | 8,226 | 41,562 |
| VAIL RESORTS INC | 5,441 | 4,874 |
| VEEVA SYS INC CL A COM | 4,905 | 17,871 |
| VERICEL CORP | 4,661 | 7,083 |
| VERISIGN INC | 25,388 | 28,767 |
| VERISK ANALYTICS INC | 35,353 | 40,213 |
| VISA INC COM CL A | 96,189 | 129,260 |
| VODAFONE GROUP PLC NEW SPONSORED ADR | 66,580 | 45,710 |
| VOYA FINANCIAL INC | 8,851 | 12,045 |
| WESCO INTL INC | 12,319 | 13,934 |
| WEX INC | 13,744 | 12,272 |
| WINTRUST FINL CORP | 6,295 | 10,974 |
| XYLEM INC | 28,045 | 28,773 |
| ZEBRA TECHNOLOGIES CORPORATION CL A | 4,392 | 10,428 |
| ZOETIS INC CL A | 50,310 | 44,480 |
| ZTO EXPRESS CAYMAN INC SPONSORED ADS A | 7,087 | 6,960 |
| GOLDMAN SACHS ACC ETF | 94,305 | 94,125 |
| FEDERATED HERMES GOVT OBLIG MMKT FD ADVISOR CL | 5,285 | 5,402 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| SUVRETTA OFFSHORE | AT COST | 206,602 | 5,809 |
| ALKEON INNOVATION OFFSHORE FUND II | AT COST | 500,000 | 404,065 |
| MEDALIST PARTNERS ASSET-BASED PVT | AT COST | 730,241 | 790,923 |
| ELECTRON GLOBAL | AT COST | 750,000 | 848,434 |
| GPI CAPITAL GLOBAL PARTNERSHIP | AT COST | 0 | 235,182 |
| KL SPECIAL OPPORTUNITIES | AT COST | 650,000 | 1,094,735 |
| ICAPITAL RENAISSANCE FUND II LTD | AT COST | 765,000 | 1,057,143 |
| MILLENNIUM INTERNATIONAL HEDGEFOCUS FUND LTD-2C | AT COST | 350,000 | 616,138 |
| ECF VALUE INTERNATIONAL FUND LTD | AT COST | 750,000 | 940,518 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| ESTIMATED FED. EXCISE TAX PAID | 20,540 | 11,683 | 11,683 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| POSTAGE AND SHIPPING | 10 | 0 | 10 | |
| BANK FEES | 25 | 0 | 25 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| GPI CAPITAL GLOBAL K-1 INVESTMENT INCOME | 129,111 | ||
| MEDALIST PARTNERS K-1 INVESTMENT INCOME | 71,752 |
| Description | Amount |
|---|---|
| CASH BASIS INVESTMENT TIMING ADJUSTMENTS | 72,089 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| NET OPTIONS VALUE | -1,280 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT MANAGEMENT FEES | 122,703 | 122,703 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| EXCISE TAX PAID | 8,857 | 0 | 0 | |
| FOREIGN TAX PAID | 4,353 | 4,353 | 0 |