﻿<?xml version="1.0" encoding="utf-8"?>
<Return returnVersion="2016v3.0" xsi:schemaLocation="http://www.irs.gov/efile" xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2017-09-12T12:23:41-07:00</ReturnTs>
    <TaxPeriodEndDt>2016-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>Vavrinek Trine Day &amp; Co LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>260 Sheridan Ave Suite 440</AddressLine1Txt>
        <CityNm>Palo Alto</CityNm>
        <StateAbbreviationCd>CA</StateAbbreviationCd>
        <ZIPCd>94306</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2016-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>466354615</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>THE TRAMIEL CHARITABLE TRUST</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>TRAM</BusinessNameControlTxt>
      <PhoneNum>6509493757</PhoneNum>
      <USAddress>
        <AddressLine1Txt>4160 OLD ADOBE ROAD</AddressLine1Txt>
        <CityNm>PALO ALTO</CityNm>
        <StateAbbreviationCd>CA</StateAbbreviationCd>
        <ZIPCd>94306</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>SAM TRAMIEL</PersonNm>
      <PersonTitleTxt>Trustee</PersonTitleTxt>
      <SignatureDt>2017-09-12</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>Richard D Blake</PreparerPersonNm>
      <PTIN>P00105989</PTIN>
      <PhoneNum>6504620400</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2016</TaxYr>
    <BuildTS>2021-01-29 14:40:06Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="8">
    <IRS990PF documentId="IRS990PF" referenceDocumentId="GeneralExplanation" softwareId="16000303" softwareVersionNum="2016v3.0">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>4669321</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>123</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>123</InterestOnSavNetInvstIncmAmt>
        <InterestOnSavingsAdjNetIncmAmt>123</InterestOnSavingsAdjNetIncmAmt>
        <DividendsRevAndExpnssAmt>135821</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>135821</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>135821</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>83242</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>367148</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>83242</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="OtherIncomeSchedule2">-14682</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>-14682</OtherIncomeNetInvstIncmAmt>
        <OtherIncomeAdjNetIncmAmt>-14682</OtherIncomeAdjNetIncmAmt>
        <TotalRevAndExpnssAmt>204504</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>204504</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>121262</TotalAdjNetIncmAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSchedule">4000</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>4000</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>4000</AccountingFeesAdjNetIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">1153</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>1153</TaxesNetInvstIncmAmt>
        <TaxesAdjNetIncmAmt>1153</TaxesAdjNetIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>5153</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>5153</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>5153</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>233067</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>233067</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>238220</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>5153</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>5153</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>233067</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-33716</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>199351</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>116109</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>579531</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>785170</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>785170</SavAndTempCashInvstEOYFMVAmt>
        <CorporateStockBOYAmt>2851245</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="InvestmentsCorpStockSchedule">2526030</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>3364966</CorporateStockEOYFMVAmt>
        <CorporateBondsEOYAmt referenceDocumentId="InvestmentsCorpBondsSchedule">130162</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>130250</CorporateBondsEOYFMVAmt>
        <OtherInvestmentsBOYAmt>305051</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="InvestmentsOtherSchedule2">255769</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>388935</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>3735827</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>3697131</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>4669321</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowSFAS117Ind>X</OrgDoesNotFollowSFAS117Ind>
        <RetainedEarningBOYAmt>3735827</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>3697131</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>3735827</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>3697131</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>3735827</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>3697131</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>3735827</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-33716</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>3702111</SubtotalAmt>
        <OtherDecreasesAmt referenceDocumentId="OtherDecreasesSchedule">4980</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>3697131</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>1200.00 DDR CORP COM</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2012-04-08</AcquiredDt>
          <SoldDt>2016-07-18</SoldDt>
          <GrossSalesPriceAmt>23004</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>15379</CostOrOtherBasisAmt>
          <GainOrLossAmt>7625</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>7625</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>7000 GOVERNMENT PPTYS INC TR</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2013-03-12</AcquiredDt>
          <SoldDt>2016-07-18</SoldDt>
          <GrossSalesPriceAmt>168550</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>151132</CostOrOtherBasisAmt>
          <GainOrLossAmt>17418</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>17418</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>9160 DDR CORP COM</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2012-04-08</AcquiredDt>
          <SoldDt>2016-07-18</SoldDt>
          <GrossSalesPriceAmt>175594</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>117395</CostOrOtherBasisAmt>
          <GainOrLossAmt>58199</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>58199</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>83242</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>247714</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>4708702</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.05261</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>188610</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>5021778</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.03756</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>70883</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>4696767</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.01509</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>15000</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>4696767</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.00319</DistributionYr4Rt>
        <TotalDistributionRt>0.108452</TotalDistributionRt>
        <AverageDistributionRt>0.027113</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>4360089</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>118215</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>1994</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>120209</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>233067</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <DomesticOrgMeetingSect4940eInd>X</DomesticOrgMeetingSect4940eInd>
        <InvestmentIncomeExciseTaxAmt>1994</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>1994</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>1994</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>3424</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>3424</TotalPaymentsAndCreditsAmt>
        <OverpaymentAmt>1430</OverpaymentAmt>
        <AppliedToESTaxAmt>1430</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <Form990TFiledInd>false</Form990TFiledInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>CA</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>SAM TRAMIEL</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>6509493757</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>4160 OLD ADOBE ROAD</AddressLine1Txt>
          <CityNm>PALO ALTO</CityNm>
          <StateAbbreviationCd>CA</StateAbbreviationCd>
          <ZIPCd>94306</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>false</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <UndistrIncmSect4942a2NotAppInd>false</UndistrIncmSect4942a2NotAppInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <ExcessBusinessHoldingsInd>false</ExcessBusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <TransactionsFailToQlfyAsExcInd>false</TransactionsFailToQlfyAsExcInd>
        <MaintainedExpenditureRspnsInd>false</MaintainedExpenditureRspnsInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <ProceedsOrNetIncomeInd>false</ProceedsOrNetIncomeInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>SAM TRAMIEL</PersonNm>
          <USAddress>
            <AddressLine1Txt>4160 OLD ADOBE ROAD</AddressLine1Txt>
            <CityNm>PALO ALTO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94306</ZIPCd>
          </USAddress>
          <TitleTxt>CO-TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>GARRY TRAMIEL</PersonNm>
          <USAddress>
            <AddressLine1Txt>4 SUSAN GALE COURT</AddressLine1Txt>
            <CityNm>MENLO PARK</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94025</ZIPCd>
          </USAddress>
          <TitleTxt>CO-TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>LEONARD TRAMIEL</PersonNm>
          <USAddress>
            <AddressLine1Txt>767 ADDISON AVENUE</AddressLine1Txt>
            <CityNm>PALO ALTO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94301</ZIPCd>
          </USAddress>
          <TitleTxt>CO-TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>3636907</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>789579</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>4426486</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>4426486</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>66397</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>4360089</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>218004</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>218004</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>1994</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>1994</TotalTaxAmt>
        <DistributableBeforeAdjAmt>216010</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>216010</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>216010</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>233067</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>233067</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>1994</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>231073</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>216010</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>233067</UndistributedIncomePYAmt>
        <QualifyingDistributionsAmt>233067</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>233067</AppliedToYear1Amt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <UndistributedIncomeCYAmt>216010</UndistributedIncomeCYAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CHABAD OF PALO ALTO</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3070 LOUIS ROAD</AddressLine1Txt>
            <CityNm>PALO ALTO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94303</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO SUPPORT THE MISSION OF THE CHARITABLE ORGANIZATION</GrantOrContributionPurposeTxt>
          <Amt>29133</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>STANFORD HOSPITAL AND CLINICS</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>300 PASTEUR DRIVE</AddressLine1Txt>
            <CityNm>STANFORD</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94305</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO SUPPORT THE MISSION OF THE CHARITABLE ORGANIZATION</GrantOrContributionPurposeTxt>
          <Amt>29134</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>AMERICAN ASSOC BEN GURION UNIVERSIT</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>240 TAMAL VISTA BLVD STE 260</AddressLine1Txt>
            <CityNm>CORTE MADERA</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94925</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO SUPPORT THE MISSION OF THE CHARITABLE ORGANIZATION</GrantOrContributionPurposeTxt>
          <Amt>27000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TAUBE FOUNDATION FOR JEWISH LIFE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2150 POST STREET</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94115</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO SUPPORT THE MISSION OF THE CHARITABLE ORGANIZATION</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>AMERICAN RED CROSS SILICON VALLEY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2731 N 1ST STREET</AddressLine1Txt>
            <CityNm>SAN JOSE</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94103</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO SUPPORT THE MISSION OF THE CHARITABLE ORGANIZATION</GrantOrContributionPurposeTxt>
          <Amt>29133</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>PENTAGON FEDERAL CREDIT UNION FOUND</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>2930 EISENHOWER AVENUE</AddressLine1Txt>
            <CityNm>ALEXANDRIA</CityNm>
            <StateAbbreviationCd>VA</StateAbbreviationCd>
            <ZIPCd>22314</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO SUPPORT THE MISSION OF THE CHARITABLE ORGANIZATION</GrantOrContributionPurposeTxt>
          <Amt>25000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>JEWISH FAMILY AND CHILDRENS SERVICES</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2150 POST STREET</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94115</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO SUPPORT THE MISSION OF THE CHARITABLE ORGANIZATION</GrantOrContributionPurposeTxt>
          <Amt>13917</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>BLUE STAR FAMILIES</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 322</AddressLine1Txt>
            <CityNm>FALLS CHURCH</CityNm>
            <StateAbbreviationCd>VA</StateAbbreviationCd>
            <ZIPCd>22040</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO SUPPORT THE MISSION OF THE CHARITABLE ORGANIZATION</GrantOrContributionPurposeTxt>
          <Amt>28000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>OSHMAN FAMILY JEWISH COMMUNITY CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3921 FABIAN WAY</AddressLine1Txt>
            <CityNm>PALO ALTO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94303</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(C)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO SUPPORT THE MISSION OF THE CHARITABLE ORGANIZATION</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>JEWISH CHAPLINCY AT STANFORD</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>300 PASTEUR DRIVE SUITE HG004</AddressLine1Txt>
            <CityNm>STANFORD</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94309</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(3)(C)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO SUPPORT THE MISSION OF THE CHARITABLE ORGANIZATION</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>US HOLOCAUST MUSEUM</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>100 RAOUL WALLENBERG PI SW</AddressLine1Txt>
            <CityNm>WASHINGTON</CityNm>
            <StateAbbreviationCd>DC</StateAbbreviationCd>
            <ZIPCd>20024</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>501(3)(C)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>TO SUPPORT THE MISSION OF THE CHARITABLE ORGANIZATION</GrantOrContributionPurposeTxt>
          <Amt>28750</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>233067</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>123</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>135821</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>83242</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>CRESTWOOD MIDSTREAM</Desc>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>14524</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <OtherRevenueDescribedGrp>
          <Desc>HOLLY ENERGY PARTNERS LP</Desc>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>-7436</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <OtherRevenueDescribedGrp>
          <Desc>WILLIAMS PARTNERS</Desc>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>-21770</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>121262</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>83242</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>204504</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="AccountingFeesSchedule" softwareId="16000303" softwareVersionNum="2016v3.0">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING</CategoryTxt>
        <Amt>4000</Amt>
        <NetInvestmentIncomeAmt>4000</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>4000</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpBondsSchedule documentId="InvestmentsCorpBondsSchedule" softwareId="16000303" softwareVersionNum="2016v3.0">
      <InvestmentsCorporateBondsGrp>
        <BondNm>AEGON NV 8%</BondNm>
        <EOYBookValueAmt>130162</EOYBookValueAmt>
        <EOYFMVAmt>130250</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestmentsCorpStockSchedule" softwareId="16000303" softwareVersionNum="2016v3.0">
      <InvestmentsCorporateStockGrp>
        <StockNm>CITIGROUP INC</StockNm>
        <EOYBookValueAmt>286478</EOYBookValueAmt>
        <EOYFMVAmt>600243</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>DDR CORP COM</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>HSBC HOLDINGS PLC SPON</StockNm>
        <EOYBookValueAmt>436675</EOYBookValueAmt>
        <EOYFMVAmt>401800</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MEDICAL PROPERTIES TRUST INC</StockNm>
        <EOYBookValueAmt>170777</EOYBookValueAmt>
        <EOYFMVAmt>246000</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PHILLIPS 66 COM</StockNm>
        <EOYBookValueAmt>335207</EOYBookValueAmt>
        <EOYFMVAmt>838177</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>RETAIL PPTYS AMER CL-A</StockNm>
        <EOYBookValueAmt>17882</EOYBookValueAmt>
        <EOYFMVAmt>33726</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>SUNCOR ENERGY INC</StockNm>
        <EOYBookValueAmt>258317</EOYBookValueAmt>
        <EOYFMVAmt>271654</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AEGON NV 8%</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CHATHAM LODGING TRUST COM</StockNm>
        <EOYBookValueAmt>81469</EOYBookValueAmt>
        <EOYFMVAmt>102750</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>GOVERNMENT PPTYS INC</StockNm>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>FIRST HORIZON NATL</StockNm>
        <EOYBookValueAmt>96913</EOYBookValueAmt>
        <EOYFMVAmt>99747</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>TSAKOS ENERGY NAV LMTD</StockNm>
        <EOYBookValueAmt>50000</EOYBookValueAmt>
        <EOYFMVAmt>50736</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>GENERAL MOTORS</StockNm>
        <EOYBookValueAmt>231012</EOYBookValueAmt>
        <EOYFMVAmt>243880</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>LAS VEGAS SANDS CORPORATION</StockNm>
        <EOYBookValueAmt>164842</EOYBookValueAmt>
        <EOYFMVAmt>160230</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PUBLIC STORAGE</StockNm>
        <EOYBookValueAmt>50000</EOYBookValueAmt>
        <EOYFMVAmt>49660</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>KINDER MORGAN</StockNm>
        <EOYBookValueAmt>241794</EOYBookValueAmt>
        <EOYFMVAmt>165680</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>RMR GROUP</StockNm>
        <EOYBookValueAmt>892</EOYBookValueAmt>
        <EOYFMVAmt>2963</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>VODAFONE GROUP PLC</StockNm>
        <EOYBookValueAmt>103772</EOYBookValueAmt>
        <EOYFMVAmt>97720</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="InvestmentsOtherSchedule2" softwareId="16000303" softwareVersionNum="2016v3.0">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>HOLLY ENERGY PARTNERS LP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>75694</BookValueAmt>
        <EOYFMVAmt>153888</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CRESTWOOD MIDSTREAM PARTNERS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>121950</BookValueAmt>
        <EOYFMVAmt>70263</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>WILLIAMS PARTNERS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>58125</BookValueAmt>
        <EOYFMVAmt>164784</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherDecreasesSchedule documentId="OtherDecreasesSchedule" softwareId="16000303" softwareVersionNum="2016v3.0">
      <OtherDecreasesDetail>
        <Desc>COST BASIS ADJUSTMENTS</Desc>
        <Amt>4980</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSchedule2" softwareId="16000303" softwareVersionNum="2016v3.0">
      <OtherIncomeDetail>
        <Desc>CRESTWOOD MIDSTREAM</Desc>
        <RevenueAndExpensesPerBooksAmt>14524</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>14524</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>14524</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>HOLLY ENERGY PARTNERS LP</Desc>
        <RevenueAndExpensesPerBooksAmt>-7436</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>-7436</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>-7436</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>WILLIAMS PARTNERS</Desc>
        <RevenueAndExpensesPerBooksAmt>-21770</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>-21770</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>-21770</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <TaxesSchedule documentId="TaxesSchedule" softwareId="16000303" softwareVersionNum="2016v3.0">
      <TaxesDetail>
        <CategoryTxt>ATTORNEY GENERAL</CategoryTxt>
        <Amt>50</Amt>
        <NetInvestmentIncomeAmt>50</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>50</AdjustedNetIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES</CategoryTxt>
        <Amt>1093</Amt>
        <NetInvestmentIncomeAmt>1093</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>1093</AdjustedNetIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FRANCHISE TAX BOARD</CategoryTxt>
        <Amt>10</Amt>
        <NetInvestmentIncomeAmt>10</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>10</AdjustedNetIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>