James G Welsh

Laytonsville Nursury Corp. (see part VIII, note Vii. 1) — None

P. Stadler & Sonns, Co. (see part VIII, note viz — None

Livia Properties II, LC (see part VIII note vViLY) — Rent

Community Bank — Interest

Fidelity {core cash acct) — Interest

AXP Amuity — Interest

Lutheran Brotherhood Life Ins. #1 — Int/Div

Lutheran Brothemood Life Ins #2 — Int/Div

Fidelity Advisors Int'l Discovery Cl (FAIDX) — Int/Div

Fidelity Diversified. Int'l (FDIVX) — Int/Div

Fidelity RE Invest (FRESX) — Int/Div

Fidelity Growth Co (FDGRX — Int/Div

Fidelity Low Priced Stock (FLPSX — None — Buy

same) — Sold

Fidelity Value (FDVLX) — Int/Div

Fidelity Municipal Money Market (FTEXX) — Interest

Fimm MMKT Inst C1IFNSXX) — Interest — Buy

same) — Buy (add'l)

same) — Buy (add'l)

same) — Buy (add'l)

same) — Sold (part)

same) — Buy (add'l)

same) — Buy (add'l)

same) — Sold (part)

same) — Sold (part)

same) — Sold (part)

Aston T Small Cap (ATASX) — None — Sold

Acadian Emerg. Markets (AEMGX) — Int/Div

Artisan Small Cap Fund (ARTSX) — Int/Div — Buy

Wm Blair Int'l Growth (WBIGX) — Int/Div — Buy (add'l)

Causeway Intl Value Investor (CIVVX — Int/Div — Buy (add'l)

Credit Suisse (CRSOX) — Int/Div — Sold

same) — Buy

same) — Buy (add'l)

DWS Managed Muni Bond (SCMBX) — Interest — Sold (part)

same) — Sold (part)

EV Parametnc (EAEMX) — Int/Div — Buy

Harbor Int'l Admm (HRIX) — Int/Div

Oakmark (OAKMX) — Int/Div

JP Morgan US Equity (JUESX) — None — Sold

MFS Int] Value (MGIAX) — Int/Div — Buy

MFS Research Intl (MRSA X) — Int/Div — Sold (part)

MFS Va Muni Bond (MSLAX) — Interest — Buy (add'l)

same) — Sold (part)

same) — Buy (add'l)

same) — Buy (add'l)

same) — Buy (add'l)

Morgan Stnley Glob. RE (MRLBX) — Int/Div

Northern Small Cap Value (NOSGX) — Int/Div — Buy (add'l)

same) — Sold (part)

Nuveen Va Muni Bond (FVATX) — Interest

Oppenheimer Intl Growth Class A (OIGAX) — Int/Div — Buy

Oppenhemmer Intl Bond Fund (OIBY X) — Interest — Sold (part)

Pru Jennison Mid Cap (PEEAX) — Int/Div — Buy (add'l)

same) — Buy (add'l)

same) — Buy (add'l)

RS Small Cap Growth (RSEGX) — Int/Div

CRM Mid Cap (CRMMX) — None

Vanguard Index (vug) — Int/Div — Buy

Fidelity Muni Income (FHIGX) — Int/Div — Buy

T Rowe Peice High Yield Adv (PAHIX) — None — Buy (add'l)

same) — Sold

T Rowe Price Tax Free Short Intl (PRFSX) — Interest

T Rowe Price Tax Free Short Intl (PRFSX) — Int/Div — Sold (part)

T Rowe Price Tax Free Short Intl (PRFSX) — Int/Div — Sold (part)

T Rowe Price Tax Free Short Intl (PRFSX) — Int/Div — Sold (part)

ishares TR Russell midcap index (IWR) — Int/Div — Buy

ishares TR Russell 1000 Value (1IWD) — Int/Div — Buy

same) — Buy (add'l)

ishares TR Tussell 1000 Growth Index (IWF) — Int/Div — Buy

same) — Buy (add'l)

same) — Sold (part)

shares TR Russell 1000 Index (IWB) — Int/Div — Buy (add'l)

shares TR Russell 1000 Index (IWB) — None — Sold

shares TR Russell 1000 Index (IWB) — None — Sold (part)

same) — Sold

same) — None — Sold

same) — Int/Div — Sold (part)

same) — Sold (part)

PCRIX — None — Buy

same) — Sold

SPDR S&P S00 ETF Trust (SPY) — Int/Div — Buy (add'l)

same) — Buy (add'l)

same) — Sold (part)

Tenpleton Global Bond (TPINX) — Int/Div — Buy (add'l)

same) — Buy (add'l)

same) — None — Sold

same) — Int/Div — Sold (part)

Fidelity Money Market (FTEXX) — Interest

Strategic Adevisors Core (FCSAX) — Int/Div — Sold (part)

same) — Sold (part)

same) — Sold (part)

same) — Sold (part)

Strategic Advisors Growth Fund (FSGFX) — Int/Div — Sold (part)

same) — Sold (part)

same) — Sold (part)

same) — Sold (part)

Struegic Advisors Value (FVSAX — Int/Div — Sold (part)

same) — Sold (part)

Strategic Advisors Emerg Mkts (FSAMX) — Int/Div — Sold (part)

same) — Sold (part)

Strategic Advisors US Opportunity (FUSOX) — Int/Div — Sold (part)

same) — Buy (add'l)

same) — Buy (add'l)

same) — Sold (part)

Strategic Advisors Sml-Mid Cap (FSCFX) — Int/Div — Sold (part)

same) — Sold (part)

same) — Sold (part)

Strategic Advisors Int'l (FILFX) — Int/Div — Sold (part)

same) — Sold (part)

same) — Sold (part)

same) — Sold (part)

Fidelity Advisors Select Gold (FSAGX) — None — Buy (add'l)

same) — Sold (part)

same) — Sold (part)

Arden Alt Strategies (ARDNX) — None — Buy

same) — Sold (part)

Merger Fund (MERFX) — Int/Div — Sold (part)

same) — Sold (part)

Fidelity Cap & Income (FAGIX) — None — Sold

Fidelity Short Term Bond (FSHBX) — Interest — Buy (add'l)

same) — Sold (part)

same) — Sold (part)

same) — Sold (part)

same) — Sold (part)

same) — Sold (part)

Fidelity GMNA (FGMNX) — Interest — Sold (part)

Fidelity Total Bond (F1BFX) — Interest — Sold (part)

same) — Sold (part)

same) — Sold (part)

Strategic Advisors Short Duration (FAUDX) — Interest — Buy

same) — Buy (add'l)

same) — Buy (add'l)

same) — Buy (add'l)

same) — Buy (add'l)

same) — Buy (add'l)

same) — Sold (part)

Strategic Advisors Core Income (FPCIX) — Interest — Sold (part)

same) — Buy (add'l)

same) — Buy (add'l)

same) — Sold (part)

same) — Buy (add'l)

same) — Buy (add'l)

same) — Sold (part)

Strategic Advisors Incom Opportunites (FPIOX) — Interest — Buy (add'l)

same) — Sold (part)

same) — Sold (part)

Pimco Total Return (PTRAX) — Interest — Sold (part)

same) — Sold (part)

same) — Sold (part)

same) — Sold (part)

same) — Sold (part)

Pimco Short Term Admin (PSFAX) — Interest — Sold (part)

same) — Sold (part)

same) — Sold (part)

same) — Sold (part)

Pimco Comm. Real Return (PCRRX) — Int/Div — Sold (part)

same) — Sold

Fidelity Cash Reserves (FDRXX) — Int/Div

Scorctary, sharcholder, Virgiia Registered Agent (see part VIL note 1.1), P. Stadler & Sons Company

Custodial accout for minor (see part VIII, note 1.3), Strong-Wells Fargo Fund

Agreement — 2004 — Livia Properties 11, LC operating agreement (see part VIII, note 11.1)

Liability — Home Town Bank — rental property loan

Liability — Community Bank — rental property -related loans

Liability — Community Bank — personal loan (credit hing)

1.1 A closely held business operated in DC metro area. Pursuant to long-standing agreement, the holders of voting shares (of which the undersigned is one), the

redemption value of each voting share has been conclusively established at a set dollar amount.

1.2 This is a closely held warchluse and industrial facility located in the Staunton, Virginia areca. The undersigned is not involved in the management or operation

of the site and owns a passive minority interest.

1.3 This is a small custodial account maintained for a minor

111 See note 1.2

VIL Laytonsville Nursery Corp. 1s a closely held private company. Its sole asset is a parcel of real estate situate in Montgomery County, MD and leased mn

part to P. Stadler & Sons Co. Without any discount either for the undersigned’s minority interest or the limitations on transferability, the undersigned's minority

interest has been valued based on the current assessed value of the real estate.

VI1.2 See note LI

VIL.3 See note 1.2. Valuation is based on the 2010 assessed value of the real estate and improvements.