| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| CODY OVERLOOK LLC | AT COST | 726,664 | 1,557,234 |
| ABBOTT CAPITAL PARTNERS | AT COST | 4,796,638 | 4,854,452 |
| ADAMS STREET PARTNERS | AT COST | 2,278,680 | 1,218,899 |
| COMMONFUND CAPITAL PRIVATE EQUITY FU | AT COST | 1 | 1,303,008 |
| COMMONFUND CAPITAL NATURAL RESOURCES | AT COST | 1,454,247 | 1,616,795 |
| COMMONFUND CAPITAL INTERNATIONAL VI | AT COST | 602,153 | 304,233 |
| COMMONFUND CAPITAL VENTURE PARTNERS | AT COST | 1 | 1,085,300 |
| COMMONFUND NATURAL RESOURCES VII | AT COST | 387,622 | 528,299 |
| COMMONFUND CAPITAL NATURAL RESOURCES | AT COST | 1,599,996 | 3,832,294 |
| COMMONFUND CAPITAL VENTURE PARTNERS | AT COST | 1 | 4,687,187 |
| ABERDEEN VENTURE OFFSHORE PRTNRS VI | AT COST | 3,833,081 | 1,676,852 |
| ABERDEEN PRIVATE OFFSHORE EQUITY III | AT COST | 1,295,236 | 569,393 |
| ABERDEEN INT'L OFFSHORE PARTNERS | AT COST | 2,076,549 | 732,903 |
| MESIROW PRIVATE EQUITY PARTNERSHIP | AT COST | 1,076,786 | 748,169 |
| BLACKROCK HEDGE FUND | AT COST | 21,726,596 | 38,356,953 |
| SIGULER GUFF DISTRESSED OPPS III | AT COST | 1 | |
| SIGULER GUFF DISTRESSED OPPS IV | AT COST | 687,792 | 695,080 |
| SIGULER GUFF REAL ESTATE II | AT COST | 1,791,136 | 2,067,077 |
| SIGULER GUFF SMALL BUYOUT II | AT COST | 1,838,584 | 2,041,459 |
| SIGULER GUFF SMALL BUYOUT III | AT COST | 11,158,874 | 20,129,715 |
| SIGULER GUFF SMALL BUYOUT IV | AT COST | 3,502,641 | 5,421,422 |
| SIGULER GUFF SMALL BUYOUT V | AT COST | 684,247 | 765,097 |
| SANDERS CAPITAL MANAGEMENT | AT COST | 76,827,484 | 93,147,384 |
| AXIOM EMERGING MARKETS | AT COST | 20,935,528 | 16,677,707 |
| MARATHON EUROPEAN CR OPP II | AT COST | 3,520,000 | 181,375 |
| SVSS FEEDER FUND III | AT COST | 2,370,279 | 3,909,700 |
| COLORADO IMPACT FUND | AT COST | 1,311,415 | 848,370 |
| JLL PARTNERS FUND VII | AT COST | 1,952,436 | 4,594,639 |
| ACCOLADE PARTNERS V | AT COST | 1,946,477 | 5,503,722 |
| HORSLEY BRIDGE XI VENTURE FUND | AT COST | 5,270,713 | 17,039,554 |
| HORSLEY BRIDGE XII VENTURE FUND | AT COST | 8,782,141 | 19,725,174 |
| HORSLEY BRIDGE XIII VENTURE FUND | AT COST | 6,957,291 | 10,934,169 |
| HORSLEY BRIDGE XIV | AT COST | 1,719,466 | 1,677,800 |
| VERITAS CAPITAL FUND VI | AT COST | 1,987,935 | 11,964,464 |
| VERITAS CAPITAL VII | AT COST | 6,228,735 | 8,919,464 |
| MONARCH CAPITAL PRTNRS OFFSHORE IV | AT COST | 5,391,959 | 3,871,665 |
| WILLIAM BLAIR DFS | AT COST | 18,035,318 | 17,424,334 |
| LONGLEAF PARTNERS FDS | AT COST | 25,794,058 | 20,235,999 |
| REACH II | AT COST | 85,578 | 1,993,901 |
| REACH III | AT COST | 422,881 | 483,312 |
| LYME FOREST FUND V | AT COST | 1,506,414 | 2,323,698 |
| TAILWIND CAPITAL PARTNERS III | AT COST | 3,262,025 | 5,589,997 |
| BLACKHORN VENTURES IND IMPACT | AT COST | 2,342,893 | 2,770,650 |
| LYME CONSERVATION OPPORTUNITY FUND | AT COST | 354,592 | 384,541 |
| GREATER COLORADO VENTURE CAP FUND | AT COST | 350,350 | 338,981 |
| PGIM REAL ESTATE US IVP | AT COST | 772,306 | 1,244,097 |
| AEA INVESTORS FUND VII | AT COST | 4,664,561 | 4,964,741 |
| ROSE AFFORDABLE HOUSING PF V RE | AT COST | 2,392,162 | 2,702,244 |
| BEARTOOTH CAPITAL III | AT COST | 245,385 | 159,524 |
| CU HEALTHCARE INNOVATION FUND | AT COST | 500,747 | 575,718 |
| COLORADO IMPACT BRIDGE FUND | AT COST | 336,463 | 182,506 |
| VARDE DISLOCATION FUND | AT COST | 4,763,949 | 4,918,782 |
| AVESTA I | AT COST | 235,595 | 230,914 |
| OWL VENTURES IV | AT COST | 2,720,875 | 3,518,499 |
| MONARCH CAPITAL PARTNERS OFFSHORE V | AT COST | 4,802,617 | 5,671,347 |
| EMINENCE FUND LONG LTD | AT COST | 29,500,000 | 24,727,957 |
| JORDAN RESOLUTE FUND V | AT COST | 4,733,223 | 7,945,937 |
| BUFF VENTURE FUND I | AT COST | 115,000 | 95,346 |
| EMBER INFRASTRUCTURE FUND I-A | AT COST | 1,043,682 | 813,429 |
| VERITAS CAPITAL VIII | AT COST | 1,806,562 | 1,806,562 |
| COLLIDE CAPITAL FUND I | AT COST | 200,000 | 176,422 |
| GREATER COLORADO VENTURE CAPITAL II | AT COST | 100,000 | 100,000 |
| CU HEALTHCARE INNOVATION FUND II | AT COST | 21,000 | 21,000 |
| BLACKHORN VENTURES INDUSTIRAL IMP II | AT COST | 633,397 | 633,397 |
| NORTHGATE VENTURE PARTNERS VI | AT COST | 5,358,666 |