| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 14,417 | 2,883 | 0 | 10,089 |
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| APPLE INC 0.55%25 | 74,848 | 73,155 |
| AIR PRODUCTS AND 1.5%25 | 51,827 | 48,828 |
| AIR PRODUCTS AND 1.85%27 | 36,915 | 32,859 |
| AMERICAN EXPRESS 1.65%26 | 65,063 | 61,535 |
| AMERICAN TOWER C 2.95%25 | 30,661 | 29,982 |
| AMERICAN TOWER CO 1.6%26 | 49,984 | 47,940 |
| ADOBE INC 1.9%&25 | 74,865 | 74,796 |
| AT&T INC. 1.7% 26 | 49,942 | 48,184 |
| BANK OF AMERICA C VAR 26 | 80,025 | 79,788 |
| BNY MELLON INVEST 1.05%26 | 25,006 | 23,497 |
| CATERPILLAR FINL 1.15%26 | 29,973 | 28,392 |
| CITIGROUP INC VAR 27 | 49,383 | 48,010 |
| COSTCO WHOLESALE 1.375%27 | 41,029 | 37,177 |
| COMCAST CORP 2.35%27 | 26,421 | 23,889 |
| CROWN CASTLE INT 1.05%26 | 19,962 | 18,898 |
| EQUINIX, INC (R 1.25%25) | 49,910 | 49,010 |
| EXXON MOBILE COR 2.275%26 | 53,804 | 48,336 |
| GENERAL DYNAMICS 3.5%27 | 35,636 | 34,185 |
| JP MORGAN CHASE & VAR 26 | 41,718 | 39,812 |
| JP MORGAN CHASE & VAR 27 | 45,225 | 43,203 |
| LEAR CORP 3.8%27 | 32,650 | 33,985 |
| HUNTSMAN INTERNTN | 64,074 | 62,077 |
| JETBLUE 2019-1B PAS | 3,054 | 3,058 |
| CATERPILLAR FINL 4.375%29 | 55,081 | 54,058 |
| VULCAN MATERIALS | 85,147 | 84,465 |
| SCHLUMBERGER S.A4.5%28F | 20,013 | 19,846 |
| CONOCOPHILLIPS CO | 44,965 | 44,531 |
| THE PNC FINL SERV VAR | 55,739 | 55,774 |
| THE PROGRESSIVE C 2.5% 27 | 50,171 | 47,864 |
| U.S. BANCORP 3.1% 26 | 39,098 | 34,196 |
| VIRGINIA ELECTRIC 3.5%27 | 18,848 | 19,479 |
| VISA INC. 1.9%27 | 52,510 | 47,172 |
| WARNERMEDIA HOL 3.755%27 | 18,575 | 19,261 |
| WALMART INC. 1.05%26 | 49,931 | 47,304 |
| PEPSICO, INC. 2.25%25 | 25,007 | 24,874 |
| PFIZER INC. 0.8%25 | 39,775 | 39,400 |
| MORGAN STANLEY VAR 26 | 26,320 | 24,781 |
| THE PNC FINL SERV VAR | 29,968 | 28,372 |
| ENTERGY LOUISIANA | 46,643 | 47,594 |
| COMCAST CORP 3.55%28 | 47,392 | 47,988 |
| CITIGROUP INC. VAR 30 | 32,482 | 33,380 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ISHARES S&P SMALL CAP | 837,256 | 2,853,653 |
| MIDCAP SPDR TRUST SERIES I | 469,105 | 2,004,922 |
| VANGUARD TOTAL INT'L STOCK IDX | 1,255,151 | 1,534,292 |
| VANGUARD EMERGING MKTS ETF | 124,357 | 157,883 |
| VANGUARD EMERGING MKTS STOCK | 1,568,775 | 1,267,415 |
| PACKAGING CORP OF AMERICA | 5,425 | 1,673,166 |
| VANGUARD MIDCAP INDEX FUND | 1,816,453 | 5,653,795 |
| MATTHEWS PACIFIC TIGER | 300,000 | 211,111 |
| ISHARES CORE S&P 500 ETF | 300,082 | 740,559 |
| T-MOBILE US INC | 194,615 | 2,871,477 |
| GATEWAY FD-Y | 700,000 | 1,023,349 |
| HPS CORE SENIOR LENDING | 256,658 | 270,362 |
| HPS CORE SENIOR LENDING II | 370,031 | 379,812 |
| HPS MEZZANINE PRIVATE INVESTORS III | 93,564 | 278,911 |
| CRP VIII (CARLYLE) PRIVATE | 309,378 | 435,433 |
| HPS MEZZANINE PRIVATE INVESTORS II | 485,703 | 822,650 |
| HIGHBRIDGE STRATEGIC CREDIT FUND | 168,724 | 286,548 |
| ALPHABET INC | 448,289 | 1,510,189 |
| ASHTEAD GROUP PLC | 309,032 | 391,682 |
| BERKSHIRE HATHAWAY INC DEL CL A | 154,685 | 2,042,760 |
| BROWN FORMAN CORP CL A | 11,313 | 145,107 |
| CIE FINANCIERE RICHE MONT AG ZUG | 83,609 | 837,048 |
| COMCAST | 3,679 | 97,015 |
| HEINEKEN HLDG NC SHS | 295,037 | 654,744 |
| JP MORGAN CHASE & CO COM | 127,859 | 348,778 |
| MARTIN MARIETTA MATLS INC COM | 9,473 | 395,123 |
| MASTERCARD INC CL A COM | 42,415 | 1,124,227 |
| NESTLE SA SPONSORED ADRS REGISTERED | 124,341 | 649,515 |
| NETFLIX INC COM | 157,784 | 708,599 |
| PERNOD RICARD ORD SHS | 369,417 | 531,451 |
| PHILIP MORRIS INTL INC COM | 60,111 | 595,733 |
| UNILEVER NV NEW YORK SHS NEW | 333,089 | 333,449 |
| APPLE INC. | 431,637 | 1,636,745 |
| BERKSHIRE HATHAWAY B | 388,882 | 800,039 |
| BROOKFIELD CORP F | 193,499 | 356,570 |
| BROOKFIELD REINSURANCE F | 808,819 | 1,501,858 |
| BROOKFIELD ASSET MANAG F | 7,630 | 10,339 |
| SPDR S&P 500 ETF | 916,020 | 4,500,508 |
| ISHARES CORE S&P SMALL CAP ETF | 875,208 | 3,263,261 |
| ISHARE MSCI ACWI | 1,300,266 | 1,491,776 |
| DFA INT'L SMALL CAP VALUE PORTFOLIO | 1,710,214 | 2,545,803 |
| HOTCHIKIS & WILEY VALUE | 425,671 | 513,764 |
| OAKMARK INT'L FD INST | 1,602,120 | 1,546,771 |
| JLL INVESTMENT (JONES LANG) | 1,533,190 | 1,435,366 |
| SUN COMMUNITIES | 114,526 | 1,058,895 |
| DOORDASH INC CL A | 120,009 | 176,138 |
| AON PLC-CLASS A | 9,100 | 4,669,080 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| AG DIRECT LENDING III | AT COST | 495,737 | 471,590 |
| AG REALTY VALUE FUND X | AT COST | 486,789 | 604,010 |
| ADAMS STREET GLOBAL 2018 | AT COST | 829,932 | 1,195,798 |
| CREATION INVEST FUND I | AT COST | 147,665 | 114,201 |
| CREATION INVEST FUND II | AT COST | 58,809 | 14,590 |
| CREATION INVEST FUND IV | AT COST | 308,705 | 1,058,316 |
| HIGHVISTA STRATEGIC CRE FUND LP | AT COST | 1,797,630 | 1,813,085 |
| SCULPTOR OVERSEAS FUND II | AT COST | 1,500,000 | 2,250,239 |
| STRATEGIC PARTNERS VIII | AT COST | 0 | 606,699 |
| THIRTEEN PARTNERS | AT COST | 4,000,000 | 6,986,643 |
| ADAMS ST LEADER FUND 2020 | AT COST | 158,743 | 181,015 |
| ADAMS ST VENTURE INNOVATION FUND III | AT COST | 483,899 | 572,032 |
| THIRTEEN PARTNERS, CONCENTRATED | AT COST | 1,000,000 | 1,355,000 |
| AG DIRECT LENDING V | AT COST | 324,673 | 323,111 |
| ADAMS STREET LEADERS FUND II | AT COST | 8,860 | 13,128 |
| ADAM ST VENTURE INNOVATION FUND IV | AT COST | 0 | 7,166 |
| ADAMS ST GLOBAL 2024 | AT COST | 84,617 | 138,049 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| HEALTH INSURANCE DEPOSIT | -529 | 0 | 0 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| DUES AND SUBSCRIPTIONS | 1,680 | 336 | 0 | 1,344 |
| ELECTRIC | 414 | 83 | 0 | 331 |
| FILING FEES | 15 | 0 | 0 | 15 |
| INSURANCE | 2,654 | 531 | 0 | 2,123 |
| POSTAGE | 161 | 32 | 0 | 129 |
| OFFICE SUPPLIES | 714 | 143 | 0 | 571 |
| SOFTWARE | 1,288 | 258 | 0 | 1,030 |
| TELEPHONE | 1,474 | 295 | 0 | 1,179 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| WELLS FARGO SETTLEMENT | 6,833 | 0 | 0 |
| NONDIVIDEND DISTRIBUTIONS & OTHER INCOME | 15,260 | 0 | 0 |
| FROM PASS-THROUGH ACTIVITIES | -44,934 | -9,975 | 0 |
| Description | Amount |
|---|---|
| OTHER BASIS ADJUSTMENT | 42,306 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT MANAGEMENT FEES & EXPENSES | 286,857 | 286,746 | 0 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAXES PAID | 52,529 | 52,529 | 0 | 0 |
| FEDERAL PAYROLL | 15,213 | 3,043 | 0 | 12,170 |
| EXCISE TAXES | 50,000 | 0 | 0 | 0 |