| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Accounting Fees | 7,000 | 3,500 | 0 | 3,500 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AGNC Invt Corp REIT | 20,793 | 18,420 |
| Annaly Capital Management Inc | 23,583 | 18,300 |
| Bank of America Corporation | 603,505 | 609,625 |
| Blackrock Enhanced Equity Divid Tr Unsol | 211,502 | 247,456 |
| Blackrock Global Floating Rate Income Tr | 280,662 | 288,977 |
| Blackrock TCP Cap Corp | 124,752 | 76,212 |
| Blackrock Mtg Tr Inc Reit | 400,812 | 214,143 |
| Eaton Vance Ltd Duration Income Fd | 341,367 | 257,410 |
| FS KKR Capital Corp | 100,247 | 94,482 |
| Nuveen Floating Rate Income Fd | 271,962 | 235,310 |
| Nuveen Equity Long/Short Fd Cl A | 516,136 | 702,216 |
| Owl Rock Cap Corp | 275,197 | 287,280 |
| SPDR S&P 500 ETF Tr | 656,520 | 1,200,292 |
| Allspring Income Opportunities Fd | 295,643 | 263,012 |
| Western Asset High Income Opportunity Fd | 123,926 | 103,823 |
| United States Treasury Bill | ||
| Abbott Labs | 11,911 | 12,103 |
| Alphabet Inc Cl A | 45,775 | 67,580 |
| Amazon.Com Inc | 63,586 | 113,425 |
| American Tower Corp Reit | 18,966 | 14,856 |
| Ameriprise Financial Inc | 5,660 | 13,843 |
| Apple Inc | 59,305 | 106,929 |
| Applied Material Inc | ||
| Boston Scientific Corp | 8,801 | 19,382 |
| Coca Cola Co | ||
| Costco Wholesale Corp | ||
| Danaher Corp | ||
| Dollar General Corp | ||
| Home Depot Inc | ||
| Honeywell Intl Inc | ||
| Intuitive Surgical Inc | 12,491 | 22,444 |
| Lauder Estee Cos CL A | ||
| Lilly Eli & Co | 19,252 | 42,460 |
| Microsoft Corp DE | 83,555 | 164,806 |
| Nike Inc Cl B | ||
| O Reilly Automotive Inc | 7,468 | 16,601 |
| Palo Alto Networks Inc | 12,083 | 19,288 |
| Parker Hannifin Corp | 12,332 | 17,809 |
| Procter & Gamble Co | ||
| Rockwell Automation Inc | ||
| S&P Global Inc | 8,385 | 11,455 |
| Salesforce Com Inc | 16,894 | 26,412 |
| Schlumberger Ltd | ||
| Sherwin Williams Co De | 13,060 | 19,376 |
| Texas Instruments | ||
| Thermo Fisher Scientific Inc | 12,059 | 13,526 |
| TJX Cos Inc | 15,802 | 29,236 |
| Union Pacific Corp | 13,839 | 13,910 |
| United Health Group Inc | 18,022 | 18,717 |
| Visa Inc CL A De | 27,129 | 43,297 |
| Abbott Labs | 37,232 | 40,267 |
| Abbvie Inc Com | 21,944 | 27,010 |
| Accenture PLC Ireland | 24,177 | 28,143 |
| Amer Electric Power | ||
| Amgen Inc | ||
| Analog Devices Inc | 28,671 | 32,719 |
| Automatic Data Processing | 31,612 | 40,982 |
| Blackrock Inc DE | 30,680 | 41,004 |
| Broadcom Inc | 35,199 | 102,241 |
| Chubb Ltd | 18,551 | 30,117 |
| Cisco Systems Inc | ||
| Coca Cola Co | 27,676 | 32,811 |
| Diageo Plc | ||
| Discover Financial Services | ||
| EOG Resources Inc | ||
| Exxon Mobil Corp | 21,008 | 21,084 |
| Home Depot Inc | 42,115 | 49,791 |
| Honeywell Intl Inc | ||
| Johnson & Johnson | 35,110 | 32,250 |
| JPMorgan Chase & Co | 32,788 | 53,935 |
| Linde PLC | 21,547 | 28,470 |
| Marsh & McLennan Cos Inc | 18,702 | 24,640 |
| McDonalds Corp | 21,805 | 26,960 |
| Microsoft Corp | 86,805 | 143,731 |
| Morgan Stanley | 25,395 | 35,956 |
| Nextera Energy Inc Com | 31,517 | 31,185 |
| Orcale Corp | 23,429 | 46,326 |
| Phillips 66 | 22,103 | 22,786 |
| Procter & Gamble Co De | 23,789 | 28,500 |
| Prologis Inc Com | 35,065 | 30,336 |
| Raytheon Technologies Corp | ||
| Republic Service Inc DE | 6,253 | 11,668 |
| Starbucks Corp | ||
| Union Pacific Corp DE | 30,231 | 31,470 |
| United Health Group Inc | 40,182 | 42,492 |
| United Parcel Service Inc | ||
| Adyen NV ADR | 11,086 | 6,788 |
| AIA Group Ltd Spon ADR | 9,254 | 6,225 |
| Air Liquide ADR France | 4,022 | 4,483 |
| Alcon Inc CHF | 6,118 | 6,791 |
| ALFA Laval AB Sweden ADR | 6,635 | 6,935 |
| Allianz SE ADR | 13,097 | 18,049 |
| Ambev SA Spon ADR | 6,722 | 4,292 |
| Atlas Copco AB New Repstg Com | 7,763 | 7,792 |
| Banco Bilbao Vizcaya Argentaria | 6,439 | 9,846 |
| BHP Group LTD Spon ADR | 8,987 | 7,080 |
| CDN Natl Railway Co Cad | 4,135 | 3,553 |
| Chugai Pharmaceuticals Ltd | 8,339 | 12,743 |
| CSPC Pharaceutical Group Ltd | ||
| Daifuku Co Ltd Adr Unsolicited | 3,984 | 4,229 |
| Dassault System SA Spon ADR | 18,274 | 12,088 |
| DBS Group Hldgs Ltd Spon ADR | 14,244 | 21,511 |
| Enn Energy Holdings Ltd Spon | 11,320 | 6,998 |
| Epiroc Aktiebolag ADR | 9,085 | 6,441 |
| Fanuc Corp Adr | ||
| Fomento Economico Mexicano SAB | 8,120 | 9,489 |
| Haier Smart Home Co Ltd Spon Ad | 6,123 | 6,902 |
| HDFC Bank Ltd Spon ADR | 14,880 | 14,688 |
| Icici Bank Ltd Spon ADR | ||
| Infineon Technologies ADR | 16,137 | 13,491 |
| Kering S A Unsponsored ADR | ||
| Komatsu Ltd Spon Adr New | 5,051 | 5,546 |
| Kubota Corp Adr Japan | ||
| Linde Plc Eur | 4,666 | 6,280 |
| Lonza Group AG Adr | ||
| Loreal Co Adr France | 14,547 | 10,914 |
| Lukoil PJSC Spon Adr | ||
| Manulife Financial Corp Cad | 7,882 | 13,850 |
| Nestle S A Sponsored Adr | 13,143 | 9,069 |
| Nitori Hldgs Co Ltd Adr | ||
| Novonesis B Adr | 5,225 | 3,845 |
| PT Telekomunikasi Indonesia | 6,545 | 4,738 |
| Ping An Insurance Group | 4,842 | 3,306 |
| Rio Tinto Place Spon ADR | 8,713 | 6,822 |
| Roche Hldgs Ltd Spons Adr Switz | 14,242 | 11,127 |
| SAP SE Spon Adr | 8,245 | 14,280 |
| Schneider Elec SE Unsponsored | 8,941 | 12,807 |
| Shell PLC Spon Adr | 10,614 | 12,342 |
| Shimano Inc | 3,688 | 3,131 |
| Shionogi & Co Ltd Adr | 6,348 | 4,593 |
| Shiseido Co Ltd Spons Adr Japan | ||
| Sonova Hldgs AG Adr | 6,017 | 5,138 |
| Symrise AG Adr | 7,009 | 5,150 |
| Sysmex Corp Unsponsored Adr | 14,131 | 9,725 |
| Taiwan Semiconductro Mfg Co Ltd | 9,434 | 18,564 |
| Tencent Hldgs Ltd Adr | 9,965 | 9,572 |
| Unicharm Corp Spon Adr | 5,624 | 2,777 |
| Woodside Energy Group Ltd Adr | ||
| XP Inc | ||
| Yandex In Cl A Eur | ||
| Abbvie Inc Com | ||
| Advanced Micro Devices Inc | ||
| Airbnb Inc Cl A | 375 | 394 |
| Alnylam Pharmaceuticals | ||
| Alphabet Inc Cl C | 30,660 | 42,849 |
| Amazon.Com Inc | 31,722 | 58,138 |
| Amgen Inc | ||
| Amphenol Corp New Cl A | 2,605 | 4,653 |
| Apple Inc | 58,917 | 75,126 |
| ASML Hldg NV Spon Adr | 628 | 693 |
| Automaitic Data Processing Inc | ||
| Autozone Inc | 3,645 | 6,404 |
| Black Stone Inc Cl A | 7,458 | 9,483 |
| Block Inc Cl A | 2,043 | 2,040 |
| Capital One Fincl Corp | ||
| Cheniere Energy Inc New | 1,177 | 1,504 |
| Chipolte Mexican Grill Inc CL A | 1,103 | 2,171 |
| Coca Cola Co | 9,973 | 8,965 |
| Cognizant Tech Solutions CRP | ||
| Conocophillips | 2,190 | 1,983 |
| CVS Health Corp | ||
| Deere and Co | ||
| Dexcom Inc | ||
| Enphase Energy Inc | ||
| Equifax Inc | ||
| Etsy Inc | ||
| Exact Sciences Corp | ||
| Freeport McMoran Inc | ||
| HCA Healthcare Inc | ||
| Hubspot Inc | 2,205 | 4,181 |
| Intl Business Mach | 7,649 | 7,694 |
| Intuit | 5,156 | 6,285 |
| Intuitive Surgical Inc | 11,878 | 15,137 |
| Lam Research Group | 2,651 | 2,528 |
| Lauder Estee Cos CL A | ||
| Lilly Eli and Co | 14,634 | 19,300 |
| Lowes Companies Inc | ||
| Marriott Intl Inc New Cl A | ||
| Match Group Inc | ||
| McKesson Corp | 3,350 | 6,269 |
| Mercadolibre Inc | 4,724 | 6,802 |
| Meta Platform Inc Cl A | 19,065 | 45,084 |
| Microsoft Corp | 39,378 | 52,266 |
| Moderna Inc | ||
| Mongodb Inc | 759 | 466 |
| Monster Beverage Corp New Com | 867 | 788 |
| Morgan Stanley | ||
| MSCI Inc | ||
| Nvidia Corp | 20,497 | 77,754 |
| Oracle Corp | 7,341 | 14,164 |
| Regeneron Pharmaceuticals Inc | 2,254 | 2,137 |
| Rockwell Automation Inc New | ||
| Salesforce Inc | 7,655 | 7,690 |
| Schwab Charles Corp New | ||
| Seagen Inc | ||
| Sherwin Williams Co | ||
| Shopify Inc Cl A | 3,988 | 4,785 |
| Snap Inc Cl A | ||
| SVB Financial Group | ||
| Synopsys Inc | 1,753 | 1,941 |
| Tapertry Inc | ||
| Target Corp | ||
| Tesla Inc | 20,296 | 29,076 |
| Texas Instruments | ||
| The Trade Desk Inc Cl A | 1,824 | 3,408 |
| Thermo Fisher Scientific Inc | 1,245 | 1,040 |
| Trane Technologies PLC | 3,032 | 5,910 |
| United Parcel Service Inc Cl B | ||
| UnitedHealth Group Inc | ||
| Verisk Analytics Inc | ||
| Workday Inc Cl A | ||
| Abbott Labs | 7,445 | 7,239 |
| Abbvie Inc Com | 8,428 | 11,550 |
| Accenture Plc Ireland Cl A | 3,159 | 3,166 |
| Advance Auto Parts Inc | ||
| Air Pods & Chemicals Inc | 11,384 | 12,182 |
| Alexandria Real Estate Equities | 3,311 | 1,951 |
| Amer Express Co | 8,428 | 13,652 |
| Amerisource Bergen Corp | ||
| Amgen Inc | ||
| Analog Devices Inc | 9,593 | 11,473 |
| Apple Inc | 1,274 | 2,003 |
| Avalonbay Communities Inc SBI | 2,831 | 2,640 |
| Bank of America Corp | 17,714 | 18,195 |
| Becton Dickinson & Co | 6,110 | 5,672 |
| Best Buy Co Inc | ||
| Blackrock Inc | 6,705 | 8,201 |
| Boston Properties Inc | ||
| Bristol Myers Squibb Co | 12,773 | 11,595 |
| Capitol One Fincl Corp | 7,416 | 8,559 |
| Chevron Corp DE | 12,640 | 12,891 |
| Chubb Ltd Chf | 4,131 | 5,802 |
| Cigna Corp | ||
| Citi Group Inc | ||
| CME Group Inc | 3,782 | 4,180 |
| CMS Energy Corp | 3,370 | 3,866 |
| Coca Cola Co Com | 5,436 | 5,852 |
| Comcast Corp New CL A | 14,263 | 10,659 |
| Conocophillips | 11,708 | 14,479 |
| Corning inc | 4,488 | 5,940 |
| CVS Health Corp | 8,666 | 5,073 |
| Deere and Co | 9,931 | 11,440 |
| Dominion Energy Inc | 7,857 | 6,840 |
| Dover Corp | 8,985 | 10,130 |
| Eaton Corp Plc | 4,762 | 9,624 |
| EOG Resources Inc | 7,867 | 9,561 |
| Exxon Mobil Corp | 6,649 | 8,498 |
| Gallagher Arthur J & Co | 3,040 | 5,393 |
| General Dynamics Corp | 8,399 | 10,276 |
| Hartford Fincl Service Group Inc | 913 | 1,422 |
| Home Depot Inc | 9,432 | 10,503 |
| Intl Business Mach | 2,123 | 3,737 |
| Johnson & Johnson Com | 10,472 | 9,256 |
| Lam Research Group | 753 | 1,445 |
| Lilly Eli & Co | 965 | 3,088 |
| Marsh & McLennan Cos Inc | 2,121 | 2,761 |
| Mcdonalds Corp | 8,732 | 9,856 |
| Medtronic Plc | 7,396 | 5,432 |
| Merck & Co Inc Com | 4,307 | 4,477 |
| Metlife Inc | 2,585 | 3,193 |
| Microsoft Corp | 7,744 | 10,116 |
| Mondelez Intl Inc | 4,778 | 4,480 |
| Morgan Stanley | 11,491 | 14,961 |
| Nextera Energy Inc Com | 8,262 | 7,241 |
| Norfolk Sthn Corp | 12,557 | 12,204 |
| Northrop Grumman Corp | 2,700 | 2,816 |
| Northern Trust Corp | ||
| NXP Semiconductors NV Com Eur | 4,110 | 4,988 |
| Parker Hannifin Corp | 3,501 | 6,996 |
| Pepsico Inc | 4,749 | 4,410 |
| Pfizer Inc | ||
| Phillips Morris Intl Inc | 10,315 | 12,637 |
| PNC Financial Services Group | 10,430 | 10,800 |
| PPG Industries Inc | 3,958 | 3,583 |
| Price T Rowe Group Inc | ||
| Procter & Gamble Co | 7,792 | 8,718 |
| Progressive Corp Ohio | 1,612 | 3,834 |
| Prologis Inc Com | 6,121 | 4,651 |
| Public Servie Enterprise Group | 3,819 | 5,238 |
| Republic Service Inc DE | 1,792 | 2,817 |
| Schwab Charles Corp New | 12,776 | 13,618 |
| Seagate Technology Hldgs | 4,855 | 4,661 |
| Starbucks Corp | ||
| Sysco Corp | ||
| Texas Instruments | 8,557 | 9,188 |
| TJX Cos Inc New | 5,692 | 10,269 |
| Truist Finl Corp DE | 7,656 | 8,676 |
| United Health Group Inc | 16,698 | 17,705 |
| United Parcel Service Inc | 13,723 | 9,205 |
| US Bancorp Del New | ||
| Ventas Inc | 4,701 | 4,829 |
| Verizon Communication Inc | 4,547 | 3,479 |
| Walmart Inc | 4,276 | 8,222 |
| Wells Fargo & Co New | 14,120 | 21,704 |
| Xcel Energy Inc | 5,326 | 5,537 |
| Assa Abloy AB Adr | 4,311 | 5,596 |
| Biontech SE Adr | ||
| Creditcorp Ltd | 4,178 | 5,500 |
| Genmab AS Spon Adr | 6,831 | 3,736 |
| Haleon PLC Spon Adr | 11,509 | 13,251 |
| Adobe Inc. | ||
| Align Technology Inc | ||
| Arista Networks Inc | 4,589 | 8,842 |
| Broadcom Inc. | 10,485 | 23,184 |
| Celsius Holdings Inc | 2,207 | 790 |
| D R Horton Inc | 13,078 | 11,745 |
| Doordash Inc Cl A | 4,786 | 7,884 |
| Eaton Corp | 2,935 | 4,646 |
| Edwards Lifesciences Corp | 1,644 | 1,555 |
| First Solar Inc | ||
| Grainger W W Inc | 2,414 | 3,162 |
| Jabil Inc | ||
| Mastercard Inc Cl A | 18,477 | 23,696 |
| Netflix Inc | 10,444 | 24,957 |
| On Semiconductor Corp | ||
| Palo Alto Networks Inc | 3,345 | 4,367 |
| Quanta Services Inc | 4,299 | 6,005 |
| Servicenow Inc | 12,451 | 16,962 |
| Spotify Technology | 4,511 | 8,948 |
| Starbucks Corp | 4,309 | 4,015 |
| Transdigm Group Inc | 5,745 | 8,871 |
| Uber Technologies Inc | 2,372 | 3,680 |
| Baxter Intl Inc | ||
| Cencora Inc | 2,129 | 3,595 |
| Hershey Co | 4,909 | 4,064 |
| Kenvue Inc | ||
| Lowes Companies Inc | 10,919 | 11,846 |
| Microchip Technology Inc | 8,036 | 5,448 |
| RTX Corp | 6,012 | 7,638 |
| The Cigna Group | 5,844 | 6,351 |
| Travelers Cos Inc | 3,575 | 4,577 |
| Union Pacific Corp | 8,236 | 7,753 |
| Accenture Plc Ireland | ||
| Advanced Micro Devices Inc | 14,894 | 18,360 |
| ASML Hldg NV Spon Adr | 20,522 | 19,406 |
| Broadcom Inc | 35,839 | 73,030 |
| Chipolte Mexican Grill Inc | 14,505 | 20,924 |
| Intuit | 12,974 | 18,855 |
| Mastercard Inc Cl A | 26,237 | 34,227 |
| Meta Platforms Inc Cl A | 41,581 | 81,386 |
| Taiwan Semiconductor Mfg Co | 29,780 | 60,827 |
| Trane Technologies Plc | 18,302 | 26,593 |
| Sony Group Corp | 10,557 | 12,379 |
| Adobe Inc | 23,475 | 18,677 |
| Nvidia Corp | 95,216 | 114,415 |
| Oracle Corp | 24,786 | 24,496 |
| Progressive Corp | 20,618 | 22,763 |
| Transdigm Group Inc | 14,806 | 16,475 |
| Amer Express Co | 25,656 | 31,757 |
| Eaton Corp | 10,898 | 9,624 |
| KLA Corp | 12,141 | 11,972 |
| Texas Instruments | 32,293 | 29,627 |
| TJX Cos Inc | 36,585 | 41,921 |
| Coloplast As | 4,616 | 4,040 |
| Disco Corp | 5,534 | 5,580 |
| Grupo Financiero | 4,697 | 3,884 |
| Mercadolibre Inc | 6,413 | 6,802 |
| Techtronic Inds | 5,190 | 4,658 |
| ZTO Express | 4,997 | 4,868 |
| Abbott Labs | 4,759 | 4,977 |
| Adobe Inc | 589 | 445 |
| Alibaba Group Hldg | 2,270 | 1,865 |
| Applovin Corp | 3,262 | 3,886 |
| Bershire Hathaway Inc | 7,987 | 7,706 |
| Booking Holdings | 3,758 | 4,968 |
| Fair Isaac Corp | 2,560 | 3,982 |
| Freeport McMoran Inc | 494 | 343 |
| Goldman Sachs Group Inc | 9,212 | 10,307 |
| Home Depot Inc | 3,656 | 3,501 |
| Johnson & Johnson | 5,298 | 5,062 |
| KKR & Co Inc | 7,692 | 10,502 |
| McDonalds Corp | 5,934 | 6,667 |
| Natera Inc | 1,797 | 1,741 |
| Paypal Holdings | 5,582 | 5,889 |
| Taiwan Semiconductor Mfg | 4,002 | 6,912 |
| Union Pacific Corp | 2,582 | 2,508 |
| Vertiv Hldg Co | 2,986 | 3,522 |
| Walmart Inc | 4,252 | 4,066 |
| 3M Co | 6,632 | 6,713 |
| Ares Management Corp | 6,054 | 7,612 |
| Bank of NY | 4,091 | 3,918 |
| Blackstone Inc | 7,704 | 9,656 |
| Goldman Sachs Group Inc | 4,766 | 4,581 |
| Honeywell Intl | 6,917 | 7,680 |
| Nike Inc | 694 | 681 |
| Quest Diagnostics | 606 | 603 |
| Yum Brands Inc | 3,877 | 3,891 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| New Vernon India Di Cayman Fund LP | AT COST | 39,720 | 108,597 |
| Encore Housing Opportunity Fund II | AT COST | 159,064 | 150,906 |
| New Vernon Mauritius | AT COST | 117,085 | 136,968 |
| New Vernon Financial Sector Fund LP | AT COST | 98,210 | 139,781 |
| Land, Oil & Gas Minerals | AT COST | 1,254,649 | 627,324 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Annual Fee | 55 | 55 | ||
| Encore Housing Opp Fd Nondeductible exp | 34 | 34 | ||
| Encore Housing Opp Fd Other Deductions | 3,647 | 3,647 | ||
| Filing Fees | 25 | 25 | ||
| Investment Advisory Fee UBS 3054 | 11,955 | 11,955 | ||
| Investment Advisory Fee UBS 3711 | 5,222 | 5,222 | ||
| Investment Advisory Fee UBS 5211 | 11,897 | 11,897 | ||
| Investment Advisory Fee UBS 5345 | 7,347 | 7,347 | ||
| Investment Advisory Fee UBS 5346 | 6,347 | 6,347 | ||
| New Vernon Financial Sec. Fd Other Port | 2,776 | 2,776 | ||
| New Vernon Mauritius Other Portfolio Ded | 4,220 | 4,220 | ||
| Royalty Other Expense | 11,426 | 11,426 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| Encore Housing Opp Fd Ordinary | -6,002 | ||
| Encore Housing Opp Fd Rental | -7,672 | ||
| Other Investment Income | 73,827 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| Due to Vendor - Credit Card | 91,230 | 62,510 |
| Margin Loan | 26,703 | |
| Bank Overdraft | 41,768 | |
| Other debt | 40,323 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Foreign Tax - UBS 3054 | 23 | 23 | ||
| Foreign Tax - UBS 3711 | 1,580 | 1,580 | ||
| Foreign Tax - UBS 5211 | 167 | 167 | ||
| Foreign Tax - UBS 5345 | 19 | 19 | ||
| Foreign Tax - UBS 5346 | 19 | 19 | ||
| New Vernon Financial Sect Fd Foreign Tax | 1,225 | 1,225 | ||
| Royalty Severance Tax | 3,609 | 3,609 |