| Name of Bond | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| ONTARIO PROV CDA BD 2.45% DUE 06-29-2022REG | 276,992 | 280,512 |
| CDN NAT RES LTD 3.85% DUE 06-01-2027 | 1,000,000 | 1,008,319 |
| TORONTO DOMINION 1.8% DUE 07-13-2021 | 544,210 | 542,076 |
| MITSUBISHI UFJ 3.761% DUE 07-26-2023 | 500,030 | 503,046 |
| MIZUHO FINL GROUP INC .849% DUE 09-08-2024/09-08-2023 REG | 975,850 | 1,055,024 |
| SUMITOMO MITSUI FIXED 3.102% DUE 01-17-2023 | 206,498 | 214,500 |
| SHELL INTL FIN B V 2.375% DUE 04-06-2025 | 546,390 | 550,068 |
| BARCLAYS PLC 3.65% DUE 03-16-2025 | 2,055,600 | 2,105,956 |
| GLAXOSMITHKLINE 2.8% DUE 03-18-2023 | 301,470 | 313,399 |
| HSBC HLDGS PLC 4.95% DUE 03-31-2030 | 517,630 | 513,840 |
| LLOYDS BKG GROUP 2.858% DUE 03-17-2023 | 541,645 | 542,519 |
| NATWEST GROUP PLC SR NT 3.875% DUE 09-12-2023 REG | 285,665 | 284,215 |
| 3M CO FIXED 3.05% DUE 04-15-2030 | 207,798 | 211,627 |
| AIR LEASE CORP MED 2.875% DUE 01-15-2026 | 284,782 | 284,641 |
| AMAZON COM INC 3.15% DUE 08-22-2027 BEO | 515,780 | 546,092 |
| AMERN EXPRESS CO 3% 10-30-2024 | 267,845 | 268,749 |
| AMERN INTL GROUP 2.5% DUE 06-30-2025 | 280,977 | 280,838 |
| AMERN TOWER CORP 3.375% DUE 10-15-2026 | 528,305 | 524,482 |
| APPLE INC 2.4% DUE 05-03-2023 | 277,530 | 280,553 |
| APPLE INC 3.25% DUE 02-23-2026 | 267,750 | 268,145 |
| AVERY DENNISON CORP 2.65% DUE 04-30-2030REG | 925,460 | 1,129,544 |
| BANK AMER CORP 3.419% 12-20-2028 | 1,057,380 | 1,038,136 |
| BERKSHIRE HATHAWAY 3% DUE 05-15-2022 | 114,900 | 131,777 |
| BOARDWALK PIPELINES LP 4.8% 05-03-2029 | 976,360 | 1,057,035 |
| BOEING CO 2.85% DUE 10-30-2024 | 1,000,000 | 1,008,127 |
| BP CAP MKTS AMER FIXED 4.742% DUE 03-11-2021 | 288,415 | 303,903 |
| BROADCOM INC 5.0% DUE 04-15-2030 | 517,955 | 527,122 |
| CHARTER 4.464% DUE 07-23-2022 | 580,315 | 580,724 |
| CHARTER 4.908% DUE 07-23-2025 | 574,275 | 576,011 |
| CIGNA CORP NEW CORP 4.125% 11-15-2025 | 263,877 | 279,417 |
| CITIGROUP INC 3.2% DUE 10-21-2026 | 594,730 | 606,329 |
| CITIGROUP INC 4.412% DUE 03-31-2031 | 1,045,400 | 1,096,343 |
| CME GROUP INC 3% DUE 03-15-2025 | 1,008,820 | 1,108,834 |
| COCA COLA CO 2.875% DUE 10-27-2025 | 1,000,410 | 1,090,390 |
| COLGATE-PALMOLIVE 3.25% DUE 03-15-2024 | 296,610 | 335,569 |
| CVS HEALTH CORP 4.3% DUE 03-25-2028 | 531,870 | 553,010 |
| DIAMOND 1 FIN CORP 5.45% DUE 06-15-2023 | 274,982 | 274,403 |
| DISCOVERY FIXED 3.45% DUE 03-15-2025 | 260,312 | 262,071 |
| DISNEY WALT CO FIXED 1.75% DUE 01-13-2026 | 229,086 | 227,819 |
| DOMINION ENERGY INC 3.375% DUE 04-01-2030 REG | 1,015,030 | 1,114,730 |
| DUKE ENERGY 3.25% DUE 08-15-2025 | 524,130 | 551,620 |
| DUPONT DE NEMOURS INC 4.205% DUE 11-15-2023 | 494,170 | 523,659 |
| EBAY INC 2.75% DUE 01-30-2023 | 997,470 | 1,077,827 |
| ENERGY TRANSFER 4.2% DUE 09-15-2023 | 271,305 | 270,095 |
| EQUIFAX INC 3.95% DUE 06-15-2023 | 287,758 | 290,746 |
| EXXON MOBIL CORP 3.482% DUE 03-19-2030 | 262,988 | 285,464 |
| FISERV INC 3.5% DUE 07-01-2029 | 258,298 | 278,746 |
| GENERAL MTRS FINL CO INC CORP 3.6% 06-21-2030 | 1,054,150 | 1,146,801 |
| GOLDMAN SACHS 4.25% DUE 10-21-2025 | 511,210 | 580,041 |
| HCA INC 4.125% 06-15-2029 | 504,190 | 564,420 |
| HCP INC 3.25% DUE 07-15-2026 | 563,195 | 556,033 |
| INTEL CORP FIXED 3.4% DUE 03-25-2025 | 1,056,650 | 1,051,411 |
| INTL BUSINESS 2.875% DUE 11-09-2022 | 1,037,450 | 1,087,872 |
| JOHNSON & JOHNSON 2.45% DUE 03-01-2026 | 254,855 | 271,833 |
| JPMORGAN CHASE & CO 2.739% DUE 10-15-2030 | 287,610 | 290,009 |
| JPMORGAN CHASE & FIXED 3.702% 05-06-2030 | 500,535 | 583,485 |
| LOWES COS INC 3.65% DUE 04-05-2029 | 548,710 | 545,493 |
| MICROSOFT CORP 2.4% DUE 08-08-2026 | 515,440 | 517,124 |
| MONDELEZ INTL INC 1.5% DUE 05-04-2025 | 971,320 | 1,055,370 |
| MORGAN STANLEY 3.125% DUE 01-23-2023 | 101,707 | 103,491 |
| MPLX LP 1.75% DUE 03-01-2026 | 264,770 | 262,104 |
| NEXTERA ENERGY CAP HLDGS INC 2.25% DUE 06-01-2030/05-12-2020 REG | 1,009,780 | 1,026,736 |
| ORACLE CORP 2.5% DUE 05-15-2022 | 549,055 | 549,600 |
| PAYPAL HLDGS INC 2.65% DUE 10-01-2026 | 1,232,113 | 1,361,225 |
| PHILIP MORRIS INTL INC 3.6 DUE 11-15-2023 | 517,055 | 512,148 |
| PNC BANK NA 2.625% 02-17-2022 | 1,036,350 | 1,109,219 |
| PROCTER & GAMBLE 2.7% DUE 02-02-2026 | 976,732 | 1,187,110 |
| PVTPL AT&T INC 2.55% DUE 12-01-2033 BEO | 250,058 | 254,182 |
| PVTPL ROYALTY PHARMA PLC SR NT 1.2% 09-02-2025 | 551,885 | 552,490 |
| PVTPL T-MOBILE USA INC 3.5% DUE 04-15-2025 | 271,080 | 284,734 |
| ROPER TECHNOLOGIES 3.85% DUE 12-15-2025 | 1,047,320 | 1,083,157 |
| SIMON PPTY GROUP L P 3.75 DUE 02-01-2024 | 424,648 | 442,544 |
| SOUTHN CAL GAS CO 3.2% DUE 06-15-2025 | 1,048,090 | 1,007,150 |
| STATE STR CORP 4.375% DUE 03-07-2021 | 757,245 | 773,570 |
| TOYOTA MTR CR CORP MEDIUM TERM NTS BOOK TRANCHE # TR 00858 3.3 DUE 01-12-202 | 1,083,160 | 1,011,600 |
| U S BANCORP 4.125 DUE 05-24-2021 BEO | 1,068,170 | 1,092,871 |
| UN PAC CORP 3.75 DUE 03-15-2024 | 170,987 | 170,900 |
| UNITEDHEALTH GROUP 3.75% DUE 07-15-2025 | 290,008 | 290,246 |
| VIACOMCBS INC 4.75% DUE 05-15-2025 | 539,945 | 545,495 |
| WELLS FARGO & CO 2.879% DUE 10-30-2030 | 262,010 | 275,149 |
| WELLS FARGO & CO 3% DUE 04-22-2026 | 25,507,744 | 25,507,708 |
| MFB NORTHN FDS ULTRA SHORT FXD INC FD | 11,092,979 | 11,621,774 |