| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING | 26,750 | 18,391 | 7,691 |
| Identifier | Return Reference | Explanation |
|---|---|---|
| PART VI-B, LINE 1A(3) | AJA FOUNDATION USES OFFICE FACILITIES FREE OF RENT BY ANDREW J. ASTRACHAN, A DISQUALIFIED PERSON. |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ADOBE INC COM | 323,184 | 320,297 |
| ALPHA METALLURGICAL RESOUR INC COM | 187,052 | 267,303 |
| ALPHABET INC CAP STK CL A | 757,799 | 934,963 |
| AMERICAN EXPRESS CO COM USD 0.20 | 243,599 | 330,499 |
| ANTERO MIDSTREAM CORP | 303,703 | 622,080 |
| ANTERO RESOURCES CORP COM | 552,458 | 724,896 |
| APPLOVIN CORP COM CL A | 179,227 | 352,085 |
| BROOKFIELD CORPORATION CLASS A | 322,920 | 431,437 |
| CALIFORNIA RESOURCES CORP | 213,149 | 244,628 |
| CAPITAL GROUP INTERNATIONAL EQ | 79,012 | 89,830 |
| CHENIERE ENERGY INC COM USD0.003 | 481,444 | 751,936 |
| COUPANG INC CL A | 281,882 | 424,493 |
| DT MIDSTREAM INC | 731,524 | 1,130,600 |
| EQT CORP | 217,253 | 272,150 |
| FACTSET RESEARCH SYSTEMS INC | 218,958 | 216,013 |
| FERRARI N V ERUO | 192,471 | 213,012 |
| GRIFFON CORP | 93,556 | 101,965 |
| INTEL CORP COM USD 0.001 | 325,977 | 315,638 |
| INTERACTIVE BROKERS GROUP INC COM CL A | 284,890 | 309,301 |
| JPMORGAN CHASE &CO. COM | 296,718 | 319,215 |
| KINETIK HOLDINGS INC COM USD | 225,739 | 384,660 |
| LVMH MOET HENNESSY LOUIS VUITTON ADR | 189,676 | 210,618 |
| MERCADOLIBRE INC COM | 367,810 | 411,301 |
| NEBIUS GROUP N V COM USD0.01 CL A | 195,442 | 399,569 |
| NU HOLDINGS LTD CLASS A | 378,241 | 524,135 |
| OCCIDENTAL PETROLEUM CRP | 389,629 | 378,000 |
| PDD HOLDINGS INC AMERICAN DEPOSITARY | 196,591 | 225,746 |
| QUANTA SERVICES COM | 136,684 | 193,120 |
| QXO INC COM | 188,513 | 227,386 |
| QXO INC COME | 100,749 | 84,893 |
| RH COM | 91,362 | 97,720 |
| SEMPRA ENERGY | 394,204 | 485,892 |
| TAIWAN SEMICONDUCTOR MANUFACTURING SPON | 214,422 | 220,639 |
| TARGA RESOURCES CORP | 259,656 | 1,675,400 |
| UBER TECHNOLOGIES INC COM | 424,168 | 529,430 |
| UNITEDHEALTH GROUP INC | 580,295 | 814,217 |
| VANGUARD GROWTH ETF | 25,025 | 55,155 |
| VANGUARD S&P 500 ETF | 45,726 | 51,440 |
| VANGUARD VALUE ETF | 25,125 | 35,433 |
| WARNER BROS DISCOVERY INC COM | 232,545 | 573,459 |
| WILLIAMS COMPANIES INC | 382,128 | 1,305,010 |
| WILLIAMS-SONOMA INC | 187,901 | 231,413 |
| WYNN RESORTS LTD | 394,304 | 833,498 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| BLACKROCK STRATEGIC INCOME OPPORTUNITIES PORTFOLIO INSTUTITIONAL | AT COST | 83,156 | 88,143 |
| CAS CO-INVEST | AT COST | 43,431 | 963,626 |
| CLARION CLO OPPORTUNITY FUND (OFFSHORE) | AT COST | 0 | 435,631 |
| CLARION CLO OPPORTUNITY FUND II (OFFSHORE) II | AT COST | 382,571 | 676,640 |
| CLARION INVESTORS II, L.P. | AT COST | 0 | 38,098 |
| CLARION INVESTORS III | AT COST | 1,020,538 | 1,598,491 |
| CLARION INVESTORS IV, L.P. | AT COST | 368,136 | 276,764 |
| CORBEL CAPITAL PARTNERS SBIC | AT COST | 628,529 | 2,611,891 |
| CORBEL CAPITAL PARTNERS SBIC II | AT COST | 641,429 | 837,700 |
| CORBEL STRUCTURED EQUITY PARTNERS PARALLEL LP | AT COST | 0 | 80,973 |
| ENERGY TRANSFER EQUITY LP | AT COST | 461,136 | 1,132,560 |
| ENTERPRISE PRODUCTS PARTNERS | AT COST | 829,553 | 1,175,753 |
| GQG PARTNERS EMERGING MARKETS EQUITY FUND | AT COST | 24,936 | 28,723 |
| IREO INVESTMENT HOLDING III AND IV CO-INVESTMENT, LTD. | AT COST | 348,439 | 1,389,344 |
| MPLX LP MLP | AT COST | 187,151 | 179,820 |
| PIMCO INCOME FUND CLASS 12 | AT COST | 69,141 | 71,790 |
| SEC & INC FUND I | AT COST | 69,956 | 71,136 |
| SPDR BLOOMBERG | AT COST | 37,335 | 37,434 |
| THORNBURG STRATEGIC INCOME CLASS I | AT COST | 83,892 | 86,367 |
| VIRTUS KAR MID CAP CORE | AT COST | 51,649 | 71,948 |
| WCM FOCUSED EMERGING MARKETS FUND CLASS INSTL | AT COST | 23,745 | 33,823 |
| WESTERN MIDSTREAM PARTNERS LP | AT COST | 627,810 | 982,250 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL PROFESSIONAL FEES | 38,412 | 7,682 | 30,730 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| BANK CHARGES | 774 | 387 | 387 | |
| OFFICE EXPENSES | 27,749 | 1,801 | 25,947 | |
| INVESTMENT EXP FOR COLUMN B | 0 | 251,850 | 0 | |
| NET RENTAL LOSS FROM PASSTHROUGH | 0 | 471 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| PASSTHROUGH INVESTMENT INCOME FOR COLUMN B ONLY | 22,639 | 22,639 | 22,639 |
| PASSTHROUGH INVESTMENT INCOME FOR COLUMN A ONLY | -22,639 | -22,639 | |
| REIMBURSEMENT | 12,000 | 12,000 | |
| INTEREST ON REIMBURSEMENT | 898 | 898 | 898 |
| Description | Amount |
|---|---|
| BOOK TO NET INVESTMENT INCOME TAX DIFFERENCE | 1,765,528 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| CLARION INVESTORS II | 2,414,806 | 2,414,806 |
| CORBEL STRUCTURED EQUITY PARTNERS PARALLEL | 663,462 | 672,870 |
| RIGHTSOURCE | 1,614,923 | 0 |
| CLARION CLO OPPORTUNITY FUND (OFFSHORE) | 0 | 65,974 |
| DORCHESTER CAP SEC IV | 0 | 94,748 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| PAYROLL TAX | 20,185 | 3,071 | 17,115 | |
| STATE FILING FEES | 1,000 | 0 | 0 | |
| FOREIGN TAXES PAID - FIDELITY | 0 | 1,393 | 0 | |
| FEDERAL TAX | 32,400 | 0 | 0 |