| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| COPELAND BUHL | 8,352 | 7,099 | 1,253 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| CONSUMER DISCRETIONARY SELT | 29,705 | 30,287 |
| FIDELITY 500 INDEX-INST PRM | 2,158,591 | 3,912,199 |
| FINANCIAL SELECT SECTOR SPDR | 130,532 | 147,551 |
| HEALTH CARE SELECT SECTOR | 58,804 | 86,669 |
| INDUSTRIAL SELECT SECT SPDR | 29,790 | 27,406 |
| INVESCO QQQ TRUST SERIES 1 | 268,212 | 618,077 |
| INVESCO S&P 500 EQUAL WEIGHT | 133,667 | 160,335 |
| VANECK SEMICONDUCTOR ETF | 109,804 | 111,883 |
| VANECK OIL SERVICES ETF | 74,343 | 90,320 |
| ISHARES CORE S&P MIDCAP ETF | 204,065 | 245,439 |
| ARTISAN INTL VAL-INST | 203,330 | 213,937 |
| FIDELITY INTL INDX- INST PRM | 392,761 | 442,896 |
| JPMORGAN BETABUILDERS CANADA | 120,746 | 131,439 |
| ISHARES MSCI EUROPE FINANCIA | 81,896 | 84,742 |
| ISHARES MSCI UNITED KINGDOM | 76,870 | 76,241 |
| SPDR EURO STOXX 50 ETF | 247,797 | 249,080 |
| VANGUARD FTSE EUROPE ETF | 208,101 | 218,718 |
| ISHARES MSCI JAPAN ETF | 293,488 | 333,621 |
| WISDOMTREE JAPAN HEDGED EQ | 117,192 | 120,768 |
| ISHARES CORE MSCI EMERGING | 688,957 | 701,106 |
| VANECK GOLD MINERS | 58,005 | 62,259 |
| WELLS FARGO & CO | 3,674,250 | 3,512,000 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| MAGGIE MANOR TOO LLC | AT COST | 697,741 | 697,741 |
| MITHUN ENTERPRISES | AT COST | 7,260,803 | 7,260,803 |
| PROPERTIES OF EXCELSIOR | AT COST | 3,000,000 | 3,000,000 |
| HPS MEZZANINE PRIVATE INVESTORS | AT COST | 100,753 | 205,663 |
| VINTAGE 2020 PRIVATE INVESTMENTS | AT COST | 373,993 | 444,037 |
| VINTAGE 2021 PRIVATE INVESTMENTS | AT COST | 320,085 | 360,215 |
| VINTAGE 2022 PRIVATE INVESTMENTS | AT COST | 186,683 | 205,574 |
| VINTAGE 2019 PRIVATE INVESTMENTS | AT COST | 339,113 | 461,140 |
| VINTAGE 2023 PRIVATE INVESTMENTS | AT COST | 65,366 | 62,687 |
| VINTAGE 2024 PRIVATE INVESTMENTS | AT COST | 32,051 | 32,051 |
| VP DISLOCATION II FUND | AT COST | 125,000 | 159,046 |
| HPS CORPORATE LENDING FUND | AT COST | 830,135 | 1,050,000 |
| COHEN & STEERS REAL ESTATE-F | AT COST | 596,114 | 604,437 |
| ISHARES GOLD TRUST | AT COST | 79,907 | 141,747 |
| PIMCO COMMODITYPL STRAT-INS | AT COST | 115,090 | 106,342 |
| BLACKROCK HIGH YIELD-K | AT COST | 228,542 | 224,743 |
| DODGE & COX INCOME | AT COST | 491,872 | 488,107 |
| ISHARES 7-10 YEAR TREASURY | AT COST | 544,106 | 512,635 |
| PIMCO TOTAL RETURN FUND-INST | AT COST | 299,816 | 305,211 |
| VANGUARD TTL BD MKT IDX-ADM | AT COST | 1,166,728 | 1,107,615 |
| COATUE OPPORTUNITY OFFSHORE FUND II | AT COST | 250,000 | 287,792 |
| FIDELITY GOVERNMENT PORTFOLIO INSTITUTIONAL CLASS | AT COST | 3,691,175 | 3,691,175 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| MN FILING FEE | 25 | 25 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| RENTAL LOSS FROM PASSTHROUGH ENTITY | -371,434 | -371,434 | -371,434 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ADMINISTRATION FEES | 69,931 | 59,442 | 10,490 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAXES WITHHELD | 5,735 | 5,735 | 0 | |
| FEDERAL TAXES | 51,500 | 0 | 0 |