2018-11-15T14:08:04-06:00 2017-12-31 381357951 PLANTE & MORAN PLLC 750 TRADE CENTRE WAY STE 300 PORTAGE MI 49002 990PF 2017-01-01 383508943 THE RAVITZ FOUNDATION RAVI 2693822844 514 SOUTH ROSE STREET KALAMAZOO MI 490075212 BRUCE GELBAUGH VP/TREASURER 2693822844 2018-11-14 1 KAYLA A LAURIN CPA P00243488 2695674500 2018-11-14 67.59.56.31 2018-11-14 11:16:36 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 A4FDCA374457C003A922C1C20C76C4038F54F242 2017 2019-02-21 02:37:17Z X 43205767 X 0 X 18875 18875 866883 866883 1977904 18459599 1977904 2863662 2863662 213200 94490 118710 23250 10287 12963 14000 7000 7000 198040 198040 0 20400 10200 10200 1807 903 904 17594 4138 13456 488291 325058 163233 1773110 1773110 2261401 325058 1936343 602261 2538604 227202 346525 346525 3388328 2023890 2024094 8361 8361 8361 7322728 6347656 8365901 4674773 8369299 8310393 15377976 14497537 24150493 30991007 31593268 43205767 0 0 X 19798753 19798753 0 0 11192254 11794515 30991007 31593268 30991007 31593268 30991007 602261 0 31593268 0 31593268 PUBLICLY TRADED SECURITIES - MORGAN STANLEY 4772907 4680377 92530 92530 PUBLICLY TRADED SECURITIES - MORGAN STANLEY 2026363 1454447 571916 571916 PUBLICLY TRADED SECURITIES - COMERICA BANK 3605862 3591871 13991 13991 PUBLICLY TRADED SECURITIES - COMERICA BANK 6260071 4984321 1275750 1275750 PUBLICLY TRADED SECURITIES - COMERICA BANK 1769044 1770679 -1635 -1635 LITIGATION SETTLEMENT PROCEEDS 715 715 715 FROM K-1 POWERSHARES DB COMMODITY INDEX - OTHER GAINS 4853 4853 4853 FROM K-1 POWERSHARES DB BASE METALS FUND - OTHER GAINS 19784 19784 19784 1977904 0 2054101 38330880 0.053589 1793789 39468717 0.045448 1892642 40162174 0.047125 2020909 37706985 0.053595 1812352 35140912 0.051574 0.251331 0.050266 41170594 2069481 25386 2094867 1936343 50772 0 50772 0 50772 64384 30000 0 94384 0 43612 43612 0 0 0 0 0 0 0 0 0 0 0 1 1 MI 1 0 0 0 0 1 N/A MR BRUCE GELBAUGH 2693822844 514 SOUTH ROSE STREET KALAMAZOO MI 49007 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 BRUCE GELBAUGH 514 S ROSE STREET KALAMAZOO MI 49007 VP/TREASURER/DIRECTOR 20.00 91400 2600 0 BURTON SHIFMAN 514 S ROSE STREET KALAMAZOO MI 49007 PRESIDENT/DIRECTOR 15.00 19400 2600 0 ARNOLD SHIFMAN 514 S ROSE STREET KALAMAZOO MI 49007 DIRECTOR 1.00 5000 0 0 JONATHAN AARON 514 S ROSE STREET KALAMAZOO MI 49007 SECRETARY/DIRECTOR 1.00 5000 0 0 LAWRENCE HANDLER 514 S ROSE STREET KALAMAZOO MI 49007 DIRECTOR 5.00 5000 0 0 CAROLE SHIFMAN 514 S ROSE STREET KALAMAZOO MI 49007 PROGRAM DIRECTOR/DIRECTOR 30.00 87400 2600 0 NONE 0 COMERICA BANK PO BOX 75000 DETROIT MI 48275 INVESTMENT MANAGEMENT FEES 99883 MORGAN STANLEY 40701 WOODWARD AVE SUITE 200 BLOOMFIELD MI 48304 INVESTMENT MANAGEMENT FEES 98157 0 0 38589963 3207594 0 41797557 0 0 41797557 626963 41170594 2058530 2058530 50772 50772 2007758 0 2007758 0 2007758 1936343 0 1936343 0 1936343 2007758 0 0 8006 186600 170419 365025 1936343 0 0 0 1936343 0 71415 71415 293610 0 0 0 0 0 0 0 293610 123191 170419 X ANTI-DEFAMATION LEAGUE 605 THIRD AVENUE NEW YORK NY 101583560 PC RAVITZ FDN. DEVELOPMENT & COMMUNITY PROGRAMMING 25000 BIG BROTHERS BIG SISTERS 3501 COVINGTON ROAD KALAMAZOO MI 49001 PC GENERAL SUPPORT 35000 BOYS & GIRLS CLUBS OF GREATER KALAMAZOO 915 LAKE STREET KALAMAZOO MI 49001 PC GENERAL SUPPORT 25000 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 PC CAMP MICHIGANIA MOTT FAMILY PROGRAM 25000 CISV USA - DETROIT CHAPTER PO BOX 20254 FERNDALE MI 48220 PC PROGRAM SUPPORT - DETROIT CHAPTER 5000 CONGREGATION BETH SHALOM 14601 WEST LINCOLN ROAD OAK PARK MI 482371333 PC SANCTUARY FUND 1500 FAMILY & CHILDREN SERVICES 1608 LAKE STREET KALAMAZOO MI 49001 PC HANDLE WITH CARE FUND 5000 HAZEL PARK SCHOOLS 1620 EAST ELZA HAZEL PARK MI 48030 PC PROMISE ZONE 2500 HEBREW FREE LOAN 6735 TELEGRAPH RD 300 BLOOMFIELD HILLS MI 48301 PC GENERAL SUPPORT 25000 HILLEL CAMPUS ALLIANCE OF MICHIGAN 360 CHARLES STREET EAST LANSING MI 48823 PC GENERAL SUPPORT 115000 HILLEL DAY SCHOOL 32200 MIDDLEBELT ROAD FARMINGTON HILLS MI 48334 PC ANNUAL FUND 5000 HILLEL OF METRO DETROIT 5221 GULLEN MALL 667 SCB - WSU DETROIT MI 48202 PC SMALL CAMPUSES BIG IMPACT PROGRAM 25000 HILLEL UNIVERSITY OF MICHIGAN 1429 HILL STREET ANN ARBOR MI 48104 PC SHABBAT DINNER INITIATIVE 50000 HOLOCAUST MEMORIAL CENTER 28123 ORCHARD LAKE ROAD FARMINGTON HILLS MI 483343738 PC MUSEUM EDUCATION 100000 ISRAEL TENNIS CENTERS 3275 WEST HILLSBORO BOULEVARD SUITE 102 DEERFIELD BEACH FL 33442 PC ADDISON EMBRACE PROGRAM FOR CHILDREN AT-RISK 25000 JEWISH COMMUNITY CENTER OF METROPOLITAN DETROIT 6600 W MAPLE ROAD WEST BLOOMFIELD MI 48322 PC MACCABI GAMES & ARTSFEST 2019 25000 JEWISH COMMUNITY RELATIONS COUNCIL 6735 TELEGRAPH ROAD SUITE 140 BLOOMFIELD HILLS MI 48301 PC GENERAL SUPPORT 50000 JEWISH FAMILY SERVICE 6555 WEST MAPLE ROAD WEST BLOOMFIELD MI 48322 PC GENERAL SUPPORT 1000 JEWISH FEDERATION OF METROPOLITAN DETROIT 6735 TELEGRAPH ROAD BLOOMFIELD HILLS MI 483032030 PC 2018 ISRAELI CAMPER FUND 100000 JEWISH FEDERATION OF METROPOLITAN DETROIT 6735 TELEGRAPH ROAD PO BOX 2030 BLOOMFIELD HILLS MI 483032030 PC RAVITZ FOUNDATION FOR DIGITAL PROJECTS FUND 10000 JEWISH HISTORICAL SOCIETY OF MICHIGAN 6600 W MAPLE ROAD WEST BLOOMFIELD MI 483223003 PC GENERAL SUPPORT 12060 JEWISH SENIOR LIFE 6710 WEST MAPLE ROAD WEST BLOOMFIELD MI 48322 PC SECURING OUR FUTURE: THE CAMPAIGN FOR JEWISH SENIOR LIFE 25000 KADIMA 15999 W 12 MILE ROAD SOUTHFIELD MI 48076 PC GENERAL SUPPORT 50000 KALAMAZOO DREAM CENTER 1122 PORTAGE STREET KALAMAZOO MI 49001 PC GENERAL SUPPORT 2500 KALAMAZOO LOAVES & FISHES 901 PORTAGE STREET KALAMAZOO MI 490013005 PC GENERAL SUPPORT 35000 MINISTRY WITH COMMUNITY 440 N EDWARDS STREET KALAMAZOO MI 49007 PC GENERAL SUPPORT 2500 NATIONAL RAMAH COMMISSION INC 3080 BROADWAY NEW YORK NY 10027 PC CAMP RAMAH 5000 TAMARACK CAMPS 6735 TELEGRAGH ROAD SUITE 380 BLOOMFIELD HILLS MI 48301 PC CAMP SCHOLARSHIPS 130000 TEMPLE ISRAEL 5725 WALNUT LAKE ROAD WEST BLOOMFIELD MI 48323 PC GENERAL SUPPORT 2500 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 PC MOTT'S CHILDRENS HOSPITAL - ADVANCEMENT AWARDS 50000 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 PC RAVITZ RECRUITMENT ENHANCEMENT FUND 50000 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 PC ANNA S.F. LOK, M.D., BREAKTHROUGH RESEARCH FUND 50000 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 PC CRANIOFACIAL ANOMALIES PROGRAM-RESEARCH GIFTS 2500 WEIZMANN INSTITUTE OF SCIENCE 633 THIRD AVE NEW YORK NY 10017 PC GENERAL SUPPORT 5000 YAD EZRA 2850 W 11 MILE ROAD BERKLEY MI 48072 PC GENERAL SUPPORT 40000 BIRMINGHAM JEWISH CONNECTION 1578 LAKESIDE DRIVE BIRMINGHAM MI 48009 PC GENERAL SUPPORT 5000 CENTRAL MICHIGAN UNIVERSITY 1280 EAST CAMPUS DRIVE MOUNT PLEASANT MI 48858 PC CMED DEAN'S DISCRETIONARY FUND 2500 FLINT JEWISH FEDERATION 619 WALLENBERG STREET FLINT MI 48502 PC FLINT FAMILY SHABBAT RETREAT 11250 CONGREGATION BETH SHALOM 14601 WEST LINCOLN ROAD OAK PARK MI 48237 PC GENERAL SUPPORT 2500 HEBREW FREE LOAN 6735 TELEGRAPH RD 300 BLOOMFIELD HILLS MI 48301 PC MICHIGAN JEWISH ORGANIZATION LOAN PROGRAM 125000 HILLEL UNIVERSITY OF MICHIGAN 1429 HILL STREET ANN ARBOR MI 48104 PC LEADERSHIP ENGAGEMENT 25000 HOLOCAUST MEMORIAL CENTER 28123 ORCHARD LAKE ROAD FARMINGTON HILLS MI 48334 PC STATEWIDE EDUCATIONAL OUTREACH PROJECT 230000 HOLOCAUST MEMORIAL CENTER 28123 ORCHARD LAKE ROAD FARMINGTON HILLS MI 48334 PC TRAINING 20000 JEWISH FEDERATION OF METROPOLITAN DETROIT 6735 TELEGRAPH RD 300 BLOOMFIELD HILLS MI 483032030 PC RAVITZ SMALL MICHIGAN JEWISH COMMUNITIES INITIATIVE PROGRAMMING ENDOWMENT 100000 KEEP GROWING DETROIT 76 E FOREST AVENUE DETROIT MI 48201 PC GENERAL SUPPORT 2000 NATIONAL COUNCIL OF JEWISH WOMEN 26400 LAHSER ROAD SUITE 306 SOUTHFIELD MI 480332675 PC BACK 2 SCHOOL STORE 2500 OAKLAND SCHOOLS 2111 PONTIAC LAKE ROAD WATERFORD MI 483282736 PC OAKLAND OPPORTUNITY ACADEMY STUDENT LEADERSHIP DEVELOPMENT 3000 SECOND CHANCES ANIMAL RESCUE 29488 WOODWARD AVENUE 202 ROYAL OAK MI 48073 PC HELPING HANDS PROGRAM 2500 TEMPLE BETH-EL 125 WHITE STREET ALPENA MI 49707 PC GENERAL SUPPORT 7300 THE WELL 5725 WALNUT LAKE ROAD WEST BLOOMFIELD MI 48323 PC GENERAL SUPPORT 40000 JEWISH FUNDERS NETWORK 150 WEST 30TH STREET SUITE 900 NEW YORK NY 10001 PC GENERAL SUPPORT 2500 ANTI-DEFAMATION LEAGUE 605 THIRD AVENUE NEW YORK NY 101583560 PC GENERAL SUPPORT 75000 1773110 HOLOCAUST MEMORIAL CENTER 28123 ORCHARD LAKE ROAD FARMINGTON HILLS MI 48334 PC STATEWIDE GENOCIDE CURRICULUM OUTREACH TO BE PAID NEXT YEAR 230000 MAKE-A-WISH FOUNDATION 7600 GRAND RIVER AVENUE SUITE 175 BRIGHTON MI 48114 PC WISH GRANTING IN MICHIGAN - TO BE PAID NEXT YEAR 5000 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 PC DR. LOK - SUPPORT HEPATOLOGY RESEARCH FOR LIVER DISEASES - TOTAL OVER NEXT 3 YEARS 150000 UNIVERSITY OF MICHIGAN 3003 SOUTH STATE STREET SUITE 8000 ANN ARBOR MI 481091288 PC C.S. MOTT - PEDIATRICS - RECRUITMENT & RETENTION - TOTAL OVER NEXT 3 YEARS 150000 535000 14 18875 14 866883 18 1977904 0 2863662 0 2863662 0 0 0 0 0 0 0 0 0 0 PLANTE & MORAN 14000 7000 7000 AT&T INC 5.5% 02/01/2018 251478 250715 ANHEUSER BUSCH INBEV I 5.375% 01/15/2020 264854 265203 APPLE INC 1.55% 02/07/2020 248955 247258 BB&T CORP SR MEDIUM TERM NTS 2.05% 05/10/2021-2021 248230 246430 BANK NEW YORK MELLON CORP MEDIUM 2.661% 05/16/2023-2022 250408 249868 BLACKROCK INC 5% 12/10/2019 263139 262898 BOEING CO 2.85% 10/30/2024-2024 254927 252375 CATERPILLAR FINL SVCS CORP 5.45% 04/15/2018 253262 252398 CHEVRON CORPORATION 3.326% 11/17/2025-2025 206931 205784 CISCO SYS INC 3.625% 03/04/2024 265225 263370 COSTCO WHOLSALE 2.25% 2/15/2022 255448 248600 DEERE JOHN CAP CORP 2.8% 03/06/2023 255167 250975 DISNEY WALT CO NEW MEDIUM TERM 2.15% 09/17/2020 255054 249743 FLORIDA 3.1% 08/15/2021 261932 255582 GENERAL ELECTRIC CAP CORP 3.1% 01/09/2023 258636 253917 GLAXOSMITHKLINE CAP INC 5.65% 05/15/2018 255026 253440 HERSHEY CO NT 4.125% 12/01/2020 262049 262945 HOME DEPOT INC 2.625% 06/01/2022-2022 251695 251395 MERCK & CO INC NEW 2.35% 02/10/2022 248985 249665 ORACLE CORPORATION 2.25% 10/08/2019 254272 251130 PEPSICO INC 2.25% 05/02/2022-2022 99464 98963 PHILIP MORRIS INTL INC 2.5% 08/22/2022 246945 247705 PRAXAIR INC 4.5% 08/15/2019 259549 259280 QUALCOMM INC 2.9% 05/20/2024-2024 250000 243915 VISA INC 3.15% 12/14/2025-2025 256646 255575 WELLS FARGO & CO 2.1% 07/26/2021 250260 245815 BP CAPITAL MARKETS PLC 4.75% 03/10/2019 258240 257760 HONEYWELL 1.85% 11/01/2021-2021 246162 245462 PHILIP MORRIS INTL INC 4.5% 03/26/2020 37799 37679 E.I. DU PONT DE NEMOURS 2.2% 05/01/2020 38001 37967 HOME DEPOT INC 1.8% 06/05/2020 37832 37698 CISCO SYSTEMS INC 2.45% 06/15/2020 37335 37242 EXELON CORP 2.85% 06/15/2020 37456 37345 TOYOTA MOTOR CREDIT CORP 4.5% 06/17/2020 36990 36837 CELGENE CORP 2.875% 08/15/2020 37420 37345 CATERPILLAR FINL SERVICE 1.85% 09/04/2020 37739 37557 KEYCORP 2.9% 09/15/2020 37551 37346 THE WALT DISNEY COMPANY 2.15% 09/17/2020 38006 37961 BP CAPITAL MARKETS PLC 4.5% 10/01/2020 38166 38107 CAPITAL ONE FINANCIAL CO 2.4% 10/30/2020 37885 37767 ASTRAZENECA PLC 2.375% 11/16/2020 37962 37943 OCCIDENTAL PETROLEUM CORP 4.1% 02/01/2021 37825 37704 STARBUCKS CORP 2.1% 02/04/2021 37920 37756 ANHEUSER-BUSCH INBEV SA 4.375% 02/15/2021 38185 38040 SUNTRUST BANKS INC 2.9% 03/03/2021 37480 37414 SOUTHERN CO 2.35% 07/01/2021 37685 37775 FIDELITY NATIONAL INFORMATION SERVICES 2.25% 08/15/2021 37490 37359 AMERICAN HONDA FINANCE CORP 1.7% 09/09/2021 38084 37985 LOCKHEED MARTIN CORP 3.35% 09/15/2021 38248 38041 ORACLE CORP 1.9% 09/15/2021 38387 38385 INTEL CORP 3.3% 10/01/2021 37326 37333 STATOIL ASA 2.75% 11/10/2021 37539 37499 ABBOTT LABORATORIES 2.9% 11/30/2021 37361 37428 MCDONALD'S CORP 2.625% 01/15/2022 38243 38078 AT&T INC 3.2% 03/01/2022 37550 37399 KINDER MORGAN ENERGY PARTNERS LP 4.15% 03/01/2022 37622 37369 VERIZON COMMUNICATIONS INC 2.946% 03/15/2022 37353 37225 REYNOLDS AMERICAN INC 4% 06/12/2022 37695 37614 GENERAL MOTORS FINL CO 3.15% 06/30/2022 38098 37970 COMCAST CORP 3.125% 07/15/2022 38040 37910 FEDEX CORP 2.625% 08/01/2022 37325 36997 REGIONS FINANCIAL CORP 2.75% 08/14/2022 37945 37880 UNITED PARCEL SERVICE 2.45% 10/01/2022 38084 37908 WATSON PHARMACEUTICALS I 3.25% 10/01/2022 38383 38117 NORTHROP GRUMMAN CORP 2.55% 10/15/2022 37860 37729 ACE INA HOLDINGS INC 2.875% 11/03/2022 38490 38518 AMAZON COM INC 31585 111100 COMCAST CORP CL A 36019 59955 CONSTELLATION BRANDS INC CL A 44690 74285 COSTCO WHOLESALE CORP 60242 70912 EXTENDED STAY AMER INC 80554 85633 HOME DEPOT INC 73225 116371 LAS VEGAS SANDS CORP 82788 89920 NIKE INC CL B 50369 75936 REGAL ENTERTAINMENT GROUP CL A 42882 58261 STARBUCKS CORP 88240 89533 TAPESTRY INC 79309 105887 ALTRIA GROUP INC 45056 61555 WALT DISNEY CO 70313 85578 LAMB WESTON HOLDINGS, INC. 79075 130964 PEPSICO INC 59613 88021 PROCTER & GAMBLE CO 43611 48053 SYSCO 68319 79496 CHEVRON CORPORATION 102212 125941 CONOCOPHILLIPS 110269 138597 EXXON MOBIL CORPORATION 46344 43744 ONEOK INC 78061 77075 SCHLUMBERGER LTD 57241 48386 SEMPRA ENERGY 46952 44158 WILLIAMS CO COS INC 46605 47168 AMERICAN TOWER REIT 37537 50790 AMERIPRISE FINL INC 64146 112189 ARES CAPITAL CORP 104450 94084 BB&T CORP 94414 107743 BANK NEW YORK MELLON CORP 70979 80197 BERKSHIRE HATHAWAY CL B 62653 104660 BLACKROCK INC 58489 83735 CITIGROUP INC 62174 103951 CORESITE RLTY CORP 34359 34626 CYRUSONE INC 49254 50303 FIRST AMERN FINL CORP 55486 71339 GALLAGHER ARTHUR J & CO 69057 95553 GOLDMAN SACHS GROUP INC 45467 69040 INTERCONTINENTALEXCHANGE GROUP 1 55900 74300 INTERPUBLIC GROUP COS INC 112153 94933 JPMORGAN CHASE & CO 58108 108972 KEYCORP 73954 80115 LAM RESH CORP 21109 50251 LEGG MASON INC 60927 77747 OLD REP INTL CORP 50339 78294 PACWEST BANCORP 94891 102665 PROLOGIS INC 55381 61091 STARWOOD PPTY TR INC 94892 87428 WELLS FARCO & CO & CO NEW 90052 98164 ABBOTT LABS 76537 105865 ABBVIE INC 69542 97000 AMGEN INC 39380 79646 BECTON DICKINSON & CO 81108 110455 CVS/CAREMARK CORP 95715 88595 CORNING INCORPORATED 17873 45138 GILEAD SCIENCES INC 76698 76010 JOHNSON & JOHNSON 32743 75588 LILLY ELI & CO 93779 110305 MERCK & CO INC NEW 81929 114228 PFIZER INC 100583 107284 THERMO FISHER SCIENTIFIC INC 86861 118865 ZOETIS INC 58369 81405 EMERSON ELECTRIC ELEC CO 100291 117637 GENERAL DYNAMICS CORP 34053 50862 HONEYWELL INTERNATIONAL INC 71022 105665 LOCKHEED MARTIN CORP 27986 55863 NORFOLK SOUTHERN CORP 50187 91287 NORTHROP GRUMMAN CORP 28910 73658 OLIN CORP COM PAR $1 53719 87527 PBF ENERGY INC 77762 115567 PARKER HANNIFIN CORP 91276 116156 RYDER SYSTEMS INC 62435 76342 3M CO 34598 56253 UNITED TECHNOLOGIES CORP 63557 73353 ADOBE SYS INC 39430 72374 ALPHABET INC CL C 54569 103594 APPLE INC 78712 109492 APPLIED MATLS INC 25061 52654 CA INC 79134 98808 CISCO SYS INC 120259 160056 FACEBOOK INC 42973 118934 INTEL CORP 38256 76856 IBM CORP 149881 148357 MICROSOFT CORP 59603 97516 ORACLE CORPORATION 57337 70494 PAYPAL HLDGS INC 38900 80687 PRICELINE.COM 56222 55608 RAYTHEON COMPANY 83133 142954 VMWARE INC CL A 62005 85218 DOWDUPONT INC 68871 91589 INTERNATIONAL PAPER CO 114557 138361 NUCOR CORP 99300 106115 T-MOBILE US INC 27093 42425 VERIZON COMMUNICATIONS 50908 59017 NEXTERA ENERGY INC 62256 81375 NIELSEN HOLDINGS PLC 72268 71599 TE CONNECTIVITY LTD 59755 95040 SCORPIO TANKERS INC 100515 47525 ISHARES S&P SM CAP 600 INDEX FD AT COST 433628 691520 MFS INTL NEW DISCOVERY I AT COST 435366 452467 OPPENHEIMER DEVELOPING MARKETS FUND-Y AT COST 108282 152904 ENERGY SEL SECT SPDR FD (XLE) AT COST 87336 109691 GUGGENHEIM S&P 500 EQU WEIGHT (RSP) AT COST 685501 1555458 INDUSTRIAL SEL SEC SPDR FD (XLI) AT COST 100137 124855 ISHARES CORE MSCI EAFE ETF (IEFA) AT COST 616513 779862 ISHARES MSCI EURO FINANCIAL (EUFN) AT COST 227921 255244 ISHARES S&P 500 GRWTH ETF (IVW) AT COST 1965300 4916902 ISHARES S&P 500 VAL ETF (IVE) AT COST 2411276 4902495 ISHARES SP SMALLCAP 600 INDEX (IJR) AT COST 509536 1276275 ISHARES US REAL ESTATE ETF (IYR) AT COST 421361 622886 POWERSHARES DB BASE METALS FD (DBB) AT COST 236842 260094 POWERSHARES DB COMM TRK INC (DBC) AT COST 134196 136202 PROSHARES TR S&P 500 DV ARIST (NOBL) AT COST 186634 260259 PROSHRS RSL 2000 DVD ETF (SMDV) AT COST 476736 491191 SPDR NYSE TECHNOLOGY ETF (XNTK) AT COST 206056 520889 SPDR S&P AEROSPACE & DEF ETF (XAR) AT COST 101129 137874 THE FINANCIAL SEL SECT SPDR (XLF) AT COST 346888 482843 VANGUARD DIVIDEND APPRECIATION (VIG) AT COST 128504 263339 VANGUARD FTSE DEVELOPED MKTS E (VEA) AT COST 1991929 2543024 VANGUARD FTSE EMERGING MKTS (VWO) AT COST 789141 1038576 VANGUARD INTL EQUITY INDEX FD (VEU) AT COST 1126897 1357932 SALIENT MLP& ENERGY INFORST 1 (SMLPX) AT COST 417899 444766 VOYA GLOBAL REAL ESTATE I (IGLIX) AT COST 352529 372945 ASSOCIATION DUES 750 375 375 INSURANCE 2091 1045 1046 OFFICE EXPENSE 70 35 35 INVESTMENT EXPENSES FROM K-1S 2683 2683 0 SOFTWARE 12000 0 12000 INVESTMENT MANAGEMENT FEES 198040 198040 0