Assets Under Management

Please refer to our Disclosures page. Please understand that positions do change. It is very possible that our year end position could have been eliminated during the new year.

2019	$58,957,095
2018	$50,374,923
2017	$54,372,486
2016	$47,837,192
2015	$45,237,256
2014	$52,656,180
2013	$48,275,701
2012	$40,547,505
2011	$36,002,854
2010	$38,494,263
2009	$44,563,605
2008	$36,966,101
2007	$62,331,172
2006	$62,400,132
2005	$49,107,209
2004	$42,490,926
2003	$33,655,091
2002	$17,201,496
2001	$15,817,128
2000	$14,395,901
1999	$12,978,688
1998	$ 9,963,050
1997	$ 5,346,494

Top 5 US Common Equity Holdings by dollar value for each year (mutual funds, closed end funds, fixed income and short positions not listed). (Prior to 2005 we listed top 3 long common stock holdings.)

Year Ended>>>	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005
1	Bank of America	Exxon	Exxon	Exxon	National Western Life	National Western Life	Microsoft Corp.	Microsoft Corp.	Pfizer	Berkshire Hathaway	Origen Financial	Microsoft Corp.
2	Gazprom	PBF Energy	PSEG (PEG)	National Western Life	Microsoft Corp.	Microsoft Corp.	Wal-Mart	Pfizer	Microsoft Corp.	Origen Financial	Berkshire Hathaway	Time Warner
3	JP Morgan Chase	Bank of America	National Western Life	Microsoft Corp.	PSEG (PEG)	Wal-Mart	Exxon	Verizon	Time Warner	Capital Southwest	Microsoft Corp.	Alcoa
4	Exxon	JP Morgan Chase	Microsoft Corp.	PSEG (PEG)	Pfizer	Pfizer	ConocoPhillips	Wal-Mart	Bladex	Microsoft Corp.	Time Warner	Ciena
5	Citigroup	Microsoft Corp.	Exelon	JP Morgan Chase	JP Morgan Chase	Exxon	Novartis	News Corp. (Class A)	Merck	American International Group	Merck	Merck

December 31, 2004

AES Corp.

Merck

Ciena

December 31, 2003

4 Kids Entertainment

AES Corp.

Sun MicroSystems Inc.

December 31, 2002

Humana

Occidental Petroleum

Altria