| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 10,850 | 10,850 | 0 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AIRCASTLE 4.25 061526, QTY 15000 | 14,385 | 14,809 |
| AMERN TOWER 4.05 031532, QTY 17000 | 16,233 | 15,761 |
| AMGEN INC 5.6 030243, QTY 15000 | 15,762 | 14,585 |
| ANHEUSERBUSCH 3.5 060130, QTY 16000 | 14,741 | 14,997 |
| BAC SR NT 4.33 031550, QTY 18000 | 21,154 | 14,721 |
| BANK NY MELLON CORP NON CUML DEP SHS 1/100TH SER H FXD/VAR PERPTL, QTY 16000 | 15,266 | 15,520 |
| BROADCOM 4.55 021532, QTY 16000 | 15,958 | 15,477 |
| CAMPBELL SOUP 2.375 042430, QTY 18000 | 14,855 | 15,754 |
| CHENIERE CORP 3.7 111529, QTY 17000 | 15,786 | 15,955 |
| CITIGROUP 3.98 032030, QTY 16000 | 15,334 | 15,260 |
| COMCAST CORP 4.15 101528, QTY 15000 | 16,577 | 14,631 |
| COMMONSPIRIT3.347 100129, QTY 16000 | 16,000 | 14,903 |
| CROWN CASTLE 4.3 021529, QTY 15000 | 15,668 | 14,513 |
| DCP MIDSTREAM 5.625 071527, QTY 16000 | 15,951 | 16,216 |
| DELL INTL 6.2 071530, QTY 14000 | 16,234 | 14,669 |
| DIAMONDBACK 6.25 031533, QTY 14000 | 14,083 | 14,611 |
| DUKE ENERGY 2.55 061531, QTY 18000 | 15,939 | 15,385 |
| ENERGY TRANSF 4.2 041527, QTY 13000 | 13,552 | 12,818 |
| ENERGY TRANSF 6.1 120128, QTY 2000 | 2,125 | 2,078 |
| EQUINIX INC 3.2 111829, QTY 17000 | 15,496 | 15,629 |
| GENL MTRS 5.8 062328, QTY 15000 | 14,692 | 15,302 |
| HONDA AUTO RECS OWNER TR 24-1 A 5.21 081528, QTY 15000 | 15,080 | 15,151 |
| HUNTINGTON 5.709 020235, QTY 15000 | 15,257 | 14,958 |
| JOHN DEERE OWNER TR 22-AA4 2.49 011529, QTY 16000 | 15,356 | 15,753 |
| JPM NOTE 6.254 102334, QTY 13000 | 13,749 | 13,751 |
| JPM NT 1.47 092227, QTY 17000 | 15,087 | 16,079 |
| KINDER MORGAN 5.2 060133, QTY 16000 | 15,596 | 15,642 |
| KYNDRYL HLDGS3.15 101531, QTY 18000 | 15,632 | 15,585 |
| L3HARRIS TECH5.05 060129, QTY 15000 | 14,895 | 15,018 |
| METLIFE INC NON CUML PFD SER G FXD/VAR PERPETUAL, QTY 16000 | 15,982 | 15,660 |
| MICROSOFT CO2.525 060150, QTY 23000 | 22,414 | 14,160 |
| MORGAN STANLEY SR NT 4.431 012330, QTY 16000 | 15,904 | 15,592 |
| NETFLIX INC 5.875 111528, QTY 14000 | 14,146 | 14,451 |
| NORTHERN STS PWR CO 2.9 030150, QTY 22000 | 20,935 | 14,174 |
| OCCIDENTAL 6.375 090128, QTY 14000 | 14,196 | 14,438 |
| PARKER HANNI 3.25 061429, QTY 16000 | 16,178 | 14,919 |
| PNC FINL 5.068 012434, QTY 15000 | 14,358 | 14,604 |
| ROPER TECHS 4.75 021532, QTY 16000 | 16,018 | 15,575 |
| SCHWAB CHARLES CORP DEP SHS REP 1/100TH NONCUML SER G PFD PERPTL FXD/VAR, QT | 14,947 | 14,888 |
| T-MOBLIE USA 5.15 041534, QTY 15000 | 15,011 | 14,734 |
| TRUIST FINL 5.867 060834, QTY 15000 | 15,298 | 15,285 |
| UNITED AIRLINES 24-1AA 5.45 081538, QTY 15000 | 15,094 | 14,949 |
| VERIZON MSTR TR 23-5 A1 5.61 090828, QTY 15000 | 15,034 | 15,124 |
| VERIZON MSTR TR 23-4A1A 5.16 062029, QTY 15000 | 14,987 | 15,142 |
| WALMART NT 4.05 062948, QTY 19000 | 21,623 | 15,577 |
| WELLS FARGO 5.013 040451, QTY 16000 | 20,665 | 14,186 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AAON INC, QTY 50 | 5,856 | 5,884 |
| AIR PRODUCTS & CHEMICALS INC, QTY 420 | 132,911 | 121,817 |
| ALLIANZ SE ADR, QTY 395 | 6,803 | 12,063 |
| ALTUS GROUP LTD, QTY 326 | 12,745 | 12,681 |
| AMERICAN OUTDOOR BRANDS INC, QTY 1192 | 25,393 | 18,166 |
| ANALOG DEVICES INC, QTY 580 | 75,835 | 123,227 |
| AZEK COMPANY INC CL A, QTY 399 | 6,575 | 18,941 |
| BALDWIN INSURANCE GROUP INC CL A, QTY 491 | 6,175 | 19,031 |
| BANCO SANTANDER S A ADR, QTY 2465 | 7,150 | 11,240 |
| BIO-TECHNE CORP, QTY 60 | 4,639 | 4,322 |
| BJS WHOLESALE CLUB HOLDINGS INC, QTY 68 | 4,769 | 6,076 |
| BOUYGUES SA ADR, QTY 1242 | 7,938 | 7,278 |
| BP PLC SPON ADR, QTY 274 | 7,960 | 8,099 |
| BRITISH AMERN TOBACCO PLC SPONS ADR 25P, QTY 190 | 7,138 | 6,901 |
| BROADRIDGE FINANCIAL SOLUTIONS INC, QTY 30 | 3,965 | 6,783 |
| BROOKFIELD ASSET MGMT LTD CL A LTD VTG SHARES, QTY 2529 | 133,811 | 137,047 |
| BROWN & BROWN INC, QTY 143 | 4,954 | 14,589 |
| BURLINGTON STORES INC, QTY 22 | 4,336 | 6,271 |
| BWX TECHNOLOGIES INC, QTY 33 | 3,263 | 3,676 |
| CANNAE HOLDINGS INC, QTY 541 | 16,076 | 10,744 |
| CASEYS GENL STORES INC, QTY 15 | 5,705 | 5,943 |
| CAVCO INDS INC DEL, QTY 54 | 15,884 | 24,096 |
| CDW CORP, QTY 31 | 3,447 | 5,395 |
| CHEVRON CORP, QTY 893 | 116,895 | 129,342 |
| CHUBB LTD, QTY 459 | 70,607 | 126,822 |
| CHURCHILL DOWNS INC, QTY 48 | 6,380 | 6,410 |
| CISCO SYSTEMS INC, QTY 2395 | 119,259 | 141,784 |
| CK HUTCHISON HOLDINGS LTD UNSPON ADR, QTY 1285 | 10,420 | 6,823 |
| CLOROX COMPANY, QTY 843 | 117,079 | 136,912 |
| COLGATE-PALMOLIVE COMPANY, QTY 1393 | 112,978 | 126,638 |
| CONMED CORP, QTY 252 | 16,068 | 17,247 |
| CONTINENTAL AG SPONSORED ADR, QTY 694 | 6,743 | 4,587 |
| COPART INC, QTY 95 | 2,140 | 5,452 |
| CORE LABORATORIES INC, QTY 588 | 16,099 | 10,178 |
| COSTAR GROUP INC, QTY 78 | 5,351 | 5,584 |
| DATADOG INC CL A, QTY 38 | 4,716 | 5,429 |
| DESCARTES SYSTEMS GROUP INC, QTY 41 | 3,137 | 4,658 |
| DEUTSCHE POST AG SPON ADR, QTY 291 | 12,248 | 10,156 |
| DEXCOM INC, QTY 51 | 1,954 | 3,966 |
| DIAGEO PLC SPON ADR, QTY 996 | 131,290 | 126,621 |
| DIAMONDBACK ENERGY INC, QTY 29 | 3,732 | 4,751 |
| DOW INC, QTY 2684 | 134,865 | 107,709 |
| DR HORTON INC, QTY 23 | 1,008 | 3,216 |
| DUTCH BROS INC CL A, QTY 103 | 3,396 | 5,395 |
| DYNATRACE INC, QTY 74 | 3,589 | 4,022 |
| EDGEWELL PERSONAL CARE CO, QTY 455 | 11,885 | 15,288 |
| ENEL SOCIETA PER AZIONI ADR, QTY 1869 | 8,920 | 13,233 |
| ENOVIS CORP, QTY 383 | 15,297 | 16,806 |
| ENTERGY CORP, QTY 1962 | 111,817 | 148,759 |
| EPAM SYSTEMS INC, QTY 29 | 5,985 | 6,781 |
| EQUIFAX INC, QTY 25 | 5,157 | 6,371 |
| FASTENAL CO, QTY 84 | 2,685 | 6,040 |
| FERGUSON ENTERPRISES INC, QTY 27 | 3,982 | 4,686 |
| FIDELITY NATIONAL FINANCIAL INC FNF GROUP COM, QTY 2210 | 81,510 | 124,069 |
| FLOOR & DECOR HOLDINGS INC CL A, QTY 36 | 2,696 | 3,589 |
| FUJIFILM HOLDINGS CORP ADR, QTY 942 | 6,742 | 9,731 |
| FUJITSU LTD ADR 5, QTY 644 | 8,983 | 11,309 |
| GATES INDUSTRIAL CORP PLC, QTY 1256 | 14,056 | 25,836 |
| GILEAD SCIENCES INC, QTY 1503 | 115,442 | 138,832 |
| GLOBANT S A, QTY 33 | 6,430 | 7,076 |
| GRACO INC, QTY 71 | 3,584 | 5,985 |
| GSK PLC SPON ADR, QTY 354 | 12,824 | 11,972 |
| HAGERTY INC CL A, QTY 1634 | 14,349 | 15,768 |
| HAYWARD HOLDINGS INC, QTY 1078 | 12,310 | 16,483 |
| HEALTHCARE SVCS GROUP, QTY 635 | 14,440 | 7,376 |
| HEICO CORP, QTY 20 | 2,101 | 4,755 |
| HITACHI LTD ADR 10 COM, QTY 202 | 4,094 | 9,991 |
| HOME DEPOT INC, QTY 330 | 98,788 | 128,367 |
| HONDA MOTOR LTD ADR REPSTG 3 ORD, QTY 231 | 6,025 | 6,595 |
| HUBSPOT INC, QTY 7 | 5,019 | 4,877 |
| I3 VERTICALS INC, QTY 498 | 11,118 | 11,474 |
| ICON PLC, QTY 17 | 2,590 | 3,565 |
| IDEX CORP, QTY 25 | 4,415 | 5,232 |
| IDEXX LABORATORIES INC, QTY 11 | 3,037 | 4,548 |
| IMPERIAL BRANDS PLC SPONSORED ADR, QTY 350 | 7,567 | 11,218 |
| INGERSOLL RAND INC, QTY 68 | 3,221 | 6,151 |
| INSULET CORP, QTY 29 | 3,409 | 7,571 |
| J & J SNACK FOODS CORP, QTY 109 | 13,702 | 16,909 |
| JACK HENRY & ASSOCIATES INC, QTY 32 | 5,056 | 5,610 |
| JBT MAREL CORP, QTY 166 | 18,962 | 21,099 |
| KAO CORP ADR REPSTG 1/5TH COM, QTY 835 | 6,302 | 6,747 |
| KDDI CORP ADR, QTY 494 | 8,139 | 7,850 |
| KERING S A ADR, QTY 263 | 10,635 | 6,478 |
| KINDER MORGAN INC DE, QTY 5361 | 100,766 | 146,891 |
| KINSALE CAPITAL GROUP INC, QTY 14 | 4,264 | 6,512 |
| KONINKLIJKE AHOLD DELHAIZE N V SPON ADR NEW, QTY 212 | 6,629 | 6,909 |
| KONINKLIJKE PHILIPS N V SPON ADR, QTY 398 | 5,767 | 10,077 |
| LAMB WESTON HLDGS INC, QTY 65 | 4,607 | 4,344 |
| LENNOX INTL INC, QTY 7 | 3,357 | 4,265 |
| LLOYDS BANKING GROUP PLC SPONSORED ADR, QTY 4037 | 9,795 | 10,981 |
| LOCKHEED MARTIN CORP, QTY 238 | 88,037 | 115,654 |
| MANHATTAN ASSOCIATES INC, QTY 25 | 6,142 | 6,756 |
| MARKETAXESS HOLDINGS INC, QTY 18 | 5,589 | 4,069 |
| MARTEN TRANSPORT LTD, QTY 690 | 10,808 | 10,771 |
| MICROCHIP TECHNOLOGY INC, QTY 36 | 3,382 | 2,065 |
| MITSUBISHI ELEC CORP ADR, QTY 281 | 7,338 | 9,522 |
| MONDI PLC ADR, QTY 158 | 8,521 | 4,650 |
| MONOLITHIC POWER SYSTEM INC, QTY 11 | 2,891 | 6,509 |
| MORNINGSTAR INC, QTY 79 | 11,673 | 26,604 |
| MOVADO GROUP INC, QTY 865 | 18,553 | 17,023 |
| MSCI INC CLASS A, QTY 12 | 5,028 | 7,200 |
| NESTLE S A SPON ADR REPSTG REG SHS, QTY 57 | 5,261 | 4,657 |
| NORTHERN TRUST CORP, QTY 1320 | 105,308 | 135,300 |
| NOVARTIS AG SPON ADR, QTY 55 | 3,691 | 5,352 |
| PAYCHEX INC, QTY 955 | 78,558 | 133,910 |
| PENUMBRA INC, QTY 27 | 5,691 | 6,412 |
| PEPSICO INC, QTY 774 | 107,736 | 117,694 |
| POOL CORP, QTY 12 | 2,299 | 4,091 |
| PROGRESSIVE CORP OH, QTY 545 | 29,754 | 130,587 |
| PTC INC, QTY 37 | 2,793 | 6,803 |
| PURE STORAGE INC CL A, QTY 52 | 3,337 | 3,194 |
| RAYMOND JAMES FINANCIAL INC, QTY 37 | 4,494 | 5,747 |
| RBC BEARINGS INC, QTY 49 | 7,592 | 14,658 |
| REPLIGEN CORP, QTY 32 | 3,971 | 4,606 |
| RESMED INC, QTY 15 | 2,369 | 3,430 |
| ROCHE HOLDING LIMITED SPONSORED ADR, QTY 110 | 3,755 | 3,837 |
| ROLLINS INC, QTY 120 | 5,748 | 5,562 |
| SANFILIPPO JOHN B & SON INC, QTY 151 | 16,443 | 13,154 |
| SANOFI SPON ADR, QTY 188 | 7,735 | 9,067 |
| SAPIENS INTL CORP N V, QTY 556 | 15,533 | 14,940 |
| SECOM LTD ADR, QTY 804 | 6,753 | 6,738 |
| SHELL PLC SPONSORED ADR REPSTG ORD SHS, QTY 148 | 4,945 | 9,272 |
| SHIFT4 PAYMENTS INC CL A, QTY 32 | 2,309 | 3,321 |
| SINGAPORE TELECOMMUNICATIONS LTD SPONSORED ADR NEW 2006, QTY 258 | 6,342 | 5,813 |
| SJW GROUP, QTY 183 | 11,626 | 9,007 |
| SNAM S P A ADR, QTY 1181 | 12,297 | 10,416 |
| SNAP ON INC, QTY 405 | 70,280 | 137,489 |
| SONY GROUP CORP ADR, QTY 584 | 8,086 | 12,357 |
| SOUTHERN COMPANY, QTY 1443 | 89,650 | 118,788 |
| SPECTRUM BRANDS HOLDINGS INC, QTY 234 | 13,135 | 19,771 |
| SSE PLC SPON ADR, QTY 509 | 8,773 | 10,144 |
| STEWART INFO SVCS CORP, QTY 301 | 12,758 | 20,314 |
| TESCO PLC SPON ADR, QTY 186 | 1,606 | 2,608 |
| TEXAS ROADHOUSE INC CLASS A, QTY 28 | 4,800 | 5,052 |
| TOYOTA INDUSTRIES CORP ADR, QTY 95 | 5,207 | 7,713 |
| TREX CO INC, QTY 73 | 3,109 | 5,039 |
| TRIPADVISOR INC, QTY 1181 | 18,428 | 17,443 |
| TYLER TECHNOLOGIES INC, QTY 11 | 2,409 | 6,343 |
| U S BANCORP DE, QTY 2768 | 115,731 | 132,393 |
| UFP TECHNOLOGIES INC, QTY 57 | 8,590 | 13,937 |
| UNITED OVERSEAS BK LTD SPONS ADR, QTY 227 | 6,801 | 12,108 |
| UNITED PARCEL SERVICE INC CL B, QTY 971 | 143,047 | 122,442 |
| UPM KYMMENE CORP UNSPON ADR, QTY 50 | 1,611 | 1,382 |
| VALVOLINE INC, QTY 208 | 8,128 | 7,525 |
| VEEVA SYSTEMS INC CL A, QTY 25 | 5,061 | 5,256 |
| VERTIV HOLDINGS LLC CL A, QTY 45 | 3,864 | 5,112 |
| VINCI S A ADR, QTY 260 | 7,625 | 6,674 |
| WEC ENERGY GROUP INC, QTY 1024 | 81,328 | 96,297 |
| WH GROUP LTD SPON ADR, QTY 484 | 7,737 | 7,449 |
| WINNEBAGO INDUSTRIES INC, QTY 298 | 14,394 | 14,238 |
| WPP PLC ADR, QTY 139 | 7,677 | 7,145 |
| ZEBRA TECHNOLOGIES CORP CL A, QTY 17 | 5,391 | 6,565 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| BLACKROCK HIGH YIELD CL K, QTY 45871.56 | AT COST | 349,054 | 325,688 |
| BLUEROCK TOTAL INCOME PLUS REAL ESTATE CL I, QTY 9004.58 | AT COST | 232,247 | 241,233 |
| DIAMOND HILL SHORT DURATION SECURITIZED BOND CL I, QTY 24557.96 | AT COST | 250,000 | 244,352 |
| GRANT PARK MULTI ALTERNATIVE STRATEGIES CL I, QTY 25597.27 | AT COST | 300,000 | 269,027 |
| LOOMIS SAYLES GROWTH CL Y, QTY 12621.01 | AT COST | 323,143 | 373,077 |
| LORD ABBETT SHORT DURATION INCOME CL I, QTY 59382.42 | AT COST | 250,000 | 229,216 |
| VANGUARD CASH RESERVES FEDL MONEY MARKET ADMIRAL CL, QTY 288297.9 | AT COST | 288,298 | 288,298 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEES | 2,221 | 2,221 | 0 |
| Description | Amount |
|---|---|
| STOCK BASIS ADJUSTMENT | 13,728 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| WIRE FEES | 50 | 50 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| IRS TAX REFUND | 1,866 | 1,866 | 1,866 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT MANAGEMENT FEES | 98,618 | 98,618 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAX PAID | 2,025 | 2,025 | 0 | |
| EXCISE TAX | 2,256 | 2,256 | 0 |