| Description of Property | Date Acquired | Cost or Other Basis | Prior Years' Depreciation | Computation Method | Rate / Life (# of years) |
Current Year's Depreciation Expense | Net Investment Income | Adjusted Net Income | Cost of Goods Sold Not Included |
|---|
| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AIR LEASE CORP SER A MTN CALL | 4,762 | 4,926 |
| ALCAN INC - 5.750% - 06/01/203 | 4,349 | 4,261 |
| AMERICAN HONDA FIN CORP SER A | 3,999 | 3,929 |
| ANHEUSER-BUSCH INBEV WLDW INC | 4,117 | 4,134 |
| APPLIED MATERIALS INC - 3.300% | 3,884 | 3,979 |
| AT&T - 2.250% - 02/01/2032 | 5,014 | 5,271 |
| CAMPBELL SOUP CO NOTE CALL MAK | 5,611 | 4,999 |
| CSX CORP - 4.250% - 03/15/2029 | 3,898 | 4,032 |
| CVS HEALTH CORP NOTE CALL MAKE | 5,347 | 4,967 |
| D R HORTON INC - 5.500% - 10/1 | 4,005 | 4,175 |
| DELL INTL LLC - 5.400% - 04/15 | 3,995 | 4,108 |
| EATON CORP OHIO - 4.150% - 03/ | 4,892 | 4,920 |
| ECOLAB INC - 1.300% - 01/30/20 | 2,770 | 2,608 |
| ENTERGY CORP - 2.400% - 06/15/ | 2,948 | 2,694 |
| EXPEDIA GROUP INC SER B NOTE C | 4,689 | 4,799 |
| FEDEX CORP - 4.250% - 05/15/20 | 5,705 | 5,023 |
| FIFTH THIRD BANCORP - 0.000% - | 4,876 | 4,905 |
| FISERV INC - 2.250% - 06/01/20 | 5,149 | 4,867 |
| GENERAL MOTORS FINL CO - 3.600 | 5,324 | 4,816 |
| GEORGIA PWR CO - 5.250% - 03/1 | 4,004 | 4,130 |
| HOME DEPOT INC - 3.250% - 04/1 | 3,666 | 3,765 |
| HONEYWELL INTL INC - 5.000% - | 2,977 | 3,090 |
| KEYCORP - 6.400% - 03/06/2035 | 4,209 | 4,352 |
| KINDER MORGAN INC - 5.850% - 0 | 4,210 | 4,242 |
| KLA CORP NOTE - 4.700% - 02/01 | 3,875 | 4,020 |
| LINCOLN NATL - 3.400% - 01/15/ | 5,389 | 4,753 |
| LOCKHEED MARTIN CORP NOTE - 5. | 3,183 | 3,157 |
| LOWES - 3.650% - 04/05/2029 | 5,504 | 4,935 |
| MARATHON PETROLEUM CORP - 5.70 | 3,892 | 4,124 |
| MARRIOTT INTL INC - 3.500% - 1 | 3,280 | 3,735 |
| MARSH & MCLENNAN COS INC - 5.1 | 4,006 | 4,132 |
| META PLATFORMS INC - 4.950% - | 3,816 | 4,124 |
| METLIFE INC - 4.550% - 03/23/2 | 4,701 | 4,086 |
| NEXTERA ENERGY CAP HLDGS INC B | 3,881 | 3,562 |
| NORTHROP GRUMMAN CORP - 4.400% | 4,673 | 4,034 |
| NOVARTIS CAPITAL CORP NOTE - 3 | 4,282 | 3,970 |
| OCCIDENTAL PETE CORP - 6.375% | 4,188 | 4,190 |
| PHILIP MORRIS INTL - 3.375% - | 5,434 | 4,878 |
| PIEDMONT REIT - 5.400% - 06/15 | 2,924 | 3,117 |
| REALTY INCOME CORP - 5.130% - | 4,113 | 4,069 |
| REPUBLIC SERVICES INC - 1.750% | 4,042 | 4,319 |
| SCHWAB CHARLES CORP - 2.000% - | 5,072 | 4,810 |
| SHERWIN-WILLIAMS CO - 2.950% - | 5,279 | 4,790 |
| SIMON PROPERTY GROUP LP - 4.75 | 3,977 | 3,978 |
| T MOBILE USA INC NOTE CALL MAK | 4,617 | 5,103 |
| TARGET CORP NOTE CALL MAKE WHO | 3,656 | 3,930 |
| THERMO - 2.000% - 10/15/2031 | 3,389 | 3,570 |
| TOYOTA MOTOR CORP - 1.339% - 0 | 5,036 | 4,971 |
| UNITED PARCEL SERVICE - 4.450% | 4,717 | 4,071 |
| WASTE MGMT INC - 1.150% - 03/1 | 2,872 | 2,829 |
| WELLS FARGO - 2.393% - 06/02/2 | 5,146 | 4,877 |
| WELLTOWER INC - 2.800% - 06/01 | 4,114 | 3,709 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ABBVIE INC | 3,366 | 3,884 |
| AGNICO EAGLE MINES LTD | 522 | 1,356 |
| AGREE REALTY CORP | 2,170 | 2,089 |
| ALIGNMENT HEALTHCARE INC | 4,152 | 4,780 |
| ALLSTATE CORP | 5,663 | 7,702 |
| ALPHABET INC CL A | 26,831 | 43,194 |
| AMAZON COM | 17,698 | 23,774 |
| AMERICAN EXPRESS CO | 2,346 | 3,700 |
| AMERICAN HOMES 4 RENT | 1,384 | 1,252 |
| AMERICAN TOWER REIT INC | 4,256 | 3,863 |
| AMERICOLD REALTY TRUST | 581 | 270 |
| AMPHENOL CORPORATION | 1,652 | 4,324 |
| ANALOG DEVICES INC | 8,867 | 9,492 |
| APPLE INC | 30,369 | 43,769 |
| APPLOVIN CORP | 2,719 | 5,391 |
| ASTRAZENECA PLC SP ADR | 2,644 | 3,401 |
| AT&T, INC | 17,132 | 16,047 |
| AXON ENTERPRISE | 2,698 | 2,840 |
| BANK NEW YORK MELLON CORP COM | 2,552 | 3,367 |
| BLACKROCK INC | 11,007 | 16,055 |
| BOEING CO | 2,111 | 2,605 |
| BOSTON PPTYS INC | 1,972 | 1,889 |
| BOSTON SCIENTIFIC | 7,127 | 7,247 |
| BOYD GAMING CORP | 4,416 | 5,285 |
| BREAD FINANCIAL HOLDINGS | 3,999 | 5,182 |
| BROADCOM INC | 14,608 | 26,996 |
| CAESARS ENTERTAINMENT INC | 1,627 | 1,053 |
| CAMTEK ORD SHS | 5,236 | 4,892 |
| CARETRUST REIT, INC | 1,090 | 1,229 |
| CATALYST PHARMACEUTICALS INC | 4,296 | 4,645 |
| CATERPILLAR INC | 7,793 | 8,593 |
| CENCORA INC | 1,649 | 2,364 |
| CLOUDFLARE, INC. | 2,881 | 2,760 |
| COMMUNICATION SVCS SLCT SCTR S | 38,352 | 63,921 |
| CONOCOPHILLIPS | 1,467 | 1,685 |
| CONSTELLATION ENERGY GROUP INC | 1,757 | 2,826 |
| COSTCO WHOLESALE CORPORATION | 5,886 | 8,623 |
| CROWN CASTLE INTL | 8,409 | 7,376 |
| CSX CORP | 6,516 | 6,670 |
| DELL TECHNOLOGIES INC CLASS C | 6,980 | 5,790 |
| DICK'S SPORTING GDS | 2,036 | 1,782 |
| DIGITAL RLTY TR INC | 14,104 | 16,090 |
| DOLLAR GENERAL CORP | 2,643 | 3,718 |
| DYCOM INDS INC | 2,579 | 4,393 |
| EATON CORP PLC | 3,451 | 3,822 |
| ELI LILLY & CO | 17,171 | 23,643 |
| EMERSON ELECTRIC CO | 7,672 | 9,025 |
| ENTERGY CORP | 1,788 | 2,496 |
| EQUINIX, INC | 3,655 | 3,831 |
| EQUITY LIFESTYLE PRP | 791 | 788 |
| EQUITY RESIDENTIAL PPTYS TR | 1,262 | 1,261 |
| ESSEX PRTY TR INC | 2,977 | 3,140 |
| EXTRA SPACE STORAGE | 5,424 | 4,818 |
| EXXON MOBIL CORP | 16,118 | 18,653 |
| FERRARI NV | 4,060 | 4,435 |
| FIRST BANCORP P.R. | 4,268 | 4,561 |
| FREEPORT-MCMORAN COPPER & GOLD | 5,350 | 5,993 |
| GAMING AND LEISURE PROPERTIES, | 788 | 804 |
| GEN DYNAMICS CP | 5,027 | 6,397 |
| GENERAL ELECTRIC CO | 2,184 | 2,156 |
| GILEAD SCIENCES INC | 7,734 | 9,942 |
| GOLDMAN SACHS GROUP | 3,663 | 4,395 |
| GRANITE RIDGE RES | 1,897 | 1,678 |
| HARTFORD SCHRODERS INTERNATION | 75,484 | 99,408 |
| HEALTHCARE REALTY TRUST | 1,977 | 1,966 |
| HEWLETT PACKARD ENTERPRISE CO | 7,600 | 10,136 |
| HIGHWOODS PRPTY INC | 1,085 | 1,162 |
| HILTON WORLDWIDE HOLDINGS, INC | 1,124 | 2,011 |
| HOME DEPOT INC | 7,900 | 7,914 |
| HOST HOTELS & RESORTS INC | 2,414 | 2,766 |
| HOWMET AEROSPACE ORD SHS | 1,031 | 3,280 |
| HP INC | 3,299 | 2,429 |
| HUDSON PACIFIC PROPERTIES INC | 706 | 401 |
| INTERNATIONAL BUSINESS MACHINE | 4,990 | 9,479 |
| INTUITIVE SURGICAL | 2,597 | 3,965 |
| INVESCO S&P 500 EQUAL WEIGHT E | 64,021 | 82,178 |
| INVITATION HOMES INC. | 3,360 | 2,862 |
| IRON MOUNTAIN | 3,203 | 3,401 |
| ISHARES CORE MSCI EAFE ETF | 62,435 | 81,139 |
| JFROG | 3,715 | 4,685 |
| JOHNSON CONTROLS INTERNATIONAL | 1,995 | 3,114 |
| JP MORGAN CHASE | 11,203 | 22,878 |
| KILROY REALTY CP | 359 | 411 |
| KIMCO RLTY CORP | 2,033 | 2,149 |
| KINDER MORGAN INC | 6,865 | 9,182 |
| KITE RLTY GROUP TRUST | 1,496 | 1,654 |
| LAM RESEARCH CORP | 4,840 | 5,307 |
| LAMAR ADVERTISING CO CL A REIT | 468 | 506 |
| LIFE TIME GROUP HOLDINGS | 4,705 | 4,758 |
| LINDE PLC COM | 1,837 | 2,132 |
| LIQUIDIA TECHNOLOGIES, INC. | 3,613 | 5,242 |
| LIVE NATION INC COM | 1,715 | 1,710 |
| MARTIN MARIETTA MATLS INC | 2,973 | 3,113 |
| MASTERCARD INC | 2,766 | 3,425 |
| MATERIALS SELECT SECTOR SPDR | 38,810 | 41,994 |
| MCDONALD'S CORP | 6,483 | 6,418 |
| MEDTRONIC PLC | 7,208 | 7,973 |
| META PLATFORMS INC | 17,881 | 16,502 |
| MICROSOFT CORP | 37,440 | 52,231 |
| NETFLIX INC | 5,258 | 5,251 |
| NEUBERGER BERMAN LARGE CAP VAL | 111,743 | 138,060 |
| NMI HOLDINGS, INC | 4,543 | 4,895 |
| NVIDIA CORP | 32,917 | 56,323 |
| O-I GLASS INC | 4,671 | 4,812 |
| OMEGA HEALTHCARE INV | 1,044 | 1,153 |
| ONE GAS INC | 4,778 | 4,635 |
| ORACLE CORP | 2,818 | 2,924 |
| OSI SYSTEMS, INC | 4,094 | 4,846 |
| OUTFRONT MEDIA INC | 518 | 675 |
| PACS GROUP INC | 766 | 768 |
| PALO ALTO NETWORKS INC | 2,621 | 3,500 |
| PARKER HANNIFIN CP | 2,367 | 6,153 |
| PEPSICO INC | 4,906 | 4,449 |
| PRINCIPAL FINANCIAL GROUP | 4,481 | 5,116 |
| PROCTER GAMBLE CO | 3,187 | 2,723 |
| PROGRESSIVE CORP OHIO | 4,733 | 5,465 |
| PROLOGIS | 6,108 | 6,766 |
| PTC THERAPEUTICS INC | 3,373 | 4,710 |
| PUBLIC STORAGE INC | 1,854 | 1,557 |
| PUBLIC SVC ENTERPRISE GROUP IN | 9,201 | 9,395 |
| QUANTA SVCS INC | 2,791 | 2,954 |
| RAYTHEON TECHNOLOGIES CORP | 4,598 | 6,786 |
| REALTY INCOME CORP | 7,487 | 7,441 |
| ROSS STORES, INC | 2,957 | 3,963 |
| RUSH ENTERPRISES, INC | 4,233 | 4,855 |
| S&P GLOBAL INC COM | 2,611 | 3,136 |
| SABRA HEALTHCARE REIT INC | 4,416 | 4,754 |
| SANMINA-SCI CORPORATION | 4,170 | 4,652 |
| SAP AKTIENGESELL ADS | 1,735 | 1,457 |
| SBA COMMUNICATIONS CORP | 2,340 | 2,128 |
| SEAGATE TECHNOLOGY HOLDINGS PL | 2,120 | 3,855 |
| SELECT MEDICAL | 3,659 | 3,371 |
| SERVICE NOW | 4,062 | 3,217 |
| SHOPIFY INC | 3,138 | 3,058 |
| SIMON PPTY GROUP INC | 9,800 | 11,847 |
| SL GREEN REALTY CORP | 645 | 596 |
| SNOWFLAKE INC | 2,470 | 2,632 |
| SPOTIFY TECHNOLOGY SA | 2,534 | 2,904 |
| SUN COMMUNITIES INC | 2,828 | 2,726 |
| SYNCHRONY FINANCIAL | 5,717 | 9,344 |
| SYNDAX PHARMACEUTICALS INC | 3,940 | 5,400 |
| T. ROWE PRICE EMERGING MARKETS | 77,095 | 103,187 |
| TAKE-TWO INTERACTIVE SOFTWARE | 2,632 | 3,328 |
| TECHNOLOGY SPDR | 29,515 | 60,179 |
| TESLA MOTORS INC | 6,812 | 11,243 |
| THE COCA-COLA CO | 4,682 | 4,614 |
| THERMO FISHER SCIENTIFIC INC | 2,540 | 2,897 |
| TJX COMPANIES INC | 9,171 | 11,982 |
| TOPBUILD CORP | 2,678 | 3,338 |
| TPG INC CL A | 1,812 | 2,043 |
| TRUIST FINANCIAL CORPORATION | 7,648 | 10,482 |
| U.S. PHYSICAL THERAPY INC | 5,230 | 4,920 |
| UBER | 2,180 | 2,288 |
| UDR INC | 1,842 | 1,761 |
| UNION PACIFIC | 2,252 | 2,313 |
| VERIZON COMMUNICATIONS | 2,963 | 2,770 |
| VISA INC | 3,632 | 5,261 |
| WAL-MART STORES INC | 7,635 | 8,801 |
| WELLS FARGO & CO | 9,885 | 12,489 |
| WELLTOWER INC. | 14,333 | 23,758 |
| WESTERN DIGITAL CORP | 4,041 | 8,269 |
| WEYERHAEUSER CO | 3,203 | 2,464 |
| WILLIAMS COS | 5,665 | 8,956 |
| WORKDAY INC | 2,174 | 1,933 |
| XCEL ENERGY INC | 7,887 | 8,937 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Administrative Fees | 11,804 | 11,804 | ||
| Bank Charges | 5 | 5 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| Investment Management Services | 14,579 | 14,579 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| 990-PF Estimated Tax for 2025 | 2,600 | |||
| 990-PF Excise Tax for 2024 | 858 | |||
| Foreign Tax Paid | 44 | 44 |