EFTA00622078.pdf

Valuations 4/30/13 EFTA00622078 Investment Sanma'Y 4/30/13 oath 8 Equivilants S0LASsem Financial ILO- (see note below) 14.387.623 J Epstein 1.804.265 HAZE Taal 28.355 FT Real Estate Southern Trust Company 8,189,466 Jeerers 11.853438 .3 Epetem VI Foudaton 4,565.460 Total Cash 8 Egusalenes 40.828.607 Less Cash n Operating Account& Cash in Foundabons (1,156,197) (4 565 MO) (5.761,657) Total Available Cash ft Equrea'ents 35,066.950 JP Morgan Treeing AOCOunt (cash. secutee Deflvalvet). SFLLC See Note A JP Morgan Treeing Account (cash. securities. Densitmes)- HAZE JP Morgan Traong ACO3unt (CaSh.SeCuteS. Oerentires). STC 70,797,344 27.077,457 6.136,918 marketable Sec-unties -(fm) 12.294.528 Investment American Yacht Harbor (per JEE) Settlements Receivable -C62 Partnennip to (see attached schedule) Total • Value Above Adjustments Operating Cash Loans Receivable Two per attached vOlualco SchesIMI. 311.007,131 1,196,197 1.865,415 314 069 743 • Investmerd partnerships are subect to various restrictions on withdrawals, and therefore, the timing of ar Satiety of funds will be so Ironed 314,068,743 NOTE A: The JPM trading account was funded With $75 Won Curvy July 2011 we withdraw S 32.478.520 Co 2/11/12 the *nun was mated by $501,930 for the purchase of 16,535 Mad Pharmaceuticals 8 7,095 Bogen ICEC on 5/22/12 me e00Wlt was reducad by $1,330,000 for the purchase of 35.603 Wares of Facebook In Augur/ 2012 the account recerwel 5349,402 from the sales proceeds od 17.500 sh of Facetook On 9/12/12 the accourt was reduced by S10mm Ice the transfer to Mod Inc On 11/9/12 there was a Wenger to JEE of 51.000,000 11;00000 59.646,770 103,967,164 31',CC7 '31 EFTA00622079 J. EPSTEIN I =LAND EMI= VALUATIONS CASHLIABILMESAINESTMENTS 40W13 0laC 03/31/13 0400113 01/01t13 VTD 4141 ACCOUNTS VALUATION PERFORMANCE J P MORGAN- Cash 14339948 14,360,678 JP Masan Tradirop ACCOUN 49629787 70.797.344 J P Morgan- Strout:es 9,264.361 16774199 Other Bank Accost 26,945 26,945 INVESTMENTS TUDOR FUTURES 13,693,889 13,100.259 12,579990 4.14% -433% HIGHBRIDGE CAPITAL 18,952.160 18,919,941 18.624.993 1.58% -017% BEAR STEARNS Asa Baud Securities (7/31/09 vak 331,882 331,882 Southern Trust Copal= J P MORGAN- Cash 8,591,532 9092,702 JP Morgan Daft Account 6.125418 9136918 Other Bank Accounts 180,554 96.784 Adan Solutions (at cat) 500,000 Settlements Jason DB Z1NIRN SPECIAL OPPURTUNMES FUND 76,000000 76,000,000 less parbal ynthdraval payment receNed (6,541,292) (19353220) see foctrcte J P MORGAN- Cash 4,041,393 11.853,438 JP Morgan Trading Aocount 1,511,347 1,520.329 Essata INVESTMENT American Yacht Harbor 1,000,000 1600.000 FT Real Estate - Investment In ptshp al cast 1,508,433 1,508.833 CHECKING/SAVINGS ACODUNTS 1,290.729 1,072.488 LOANS DUE FROM INDNIDUALS 1,745,415 1.765415 CORE CLUB NOTE 100,000 100,000 BROKERAGE ACCOUNTS JPM (Bear Steams) 666,892 666.913 J P MORGAN 56,605 56,820 Mort Mc MOM= (at cost basis) 10000,000 10,000600 (1,280333 there, of common and 895,301 snares of Sr 5 Pfd) Butterfly Trutt 8,044 8,044 HAZE That HIGHBRIDGE CAPITAL 35,005308 35635646 34,404,356 1.83% -0.17% KING STREET (starlets) 24,219266 24.590.603 23.276,473 5.65% 1.56% JP Mown - Cash 28,354 28,355 JP Morpan-manaped account 22,282,645 22.077.457 TOTAL 314,146,255 314,068,743 THESE AMOUNTS CO NOT INCLUDE HOUSES, AIRPLANEFC(TUFTES S OTHER ASSETS EFTA00622080 Reconciliation of large Items Value 3/31/13 314,146,255 Partnerships (310,174) see below JPM Trading account- SFLLC (FTC) 1,167,557 JPM Trading account- HAZE (205,228) JPM Trading account- STC 11,500 Securities DNIdendsAnterest Apollo Distribution 1,512,840 9,796 Change In loan account 20,O30 cash spent : JEE (2,212,237) STC (83,790) cash received BSABS 12,224 miscellaneous total 314,068,743 Value 4/30/13 314,068,743 Partnerships SFLLC TUDOR FUTURES SFLLC HIGHBRIDGE CAPITAL Haze HIGHBRIDGE CAPITAL Haze KING STREET (593,630) (32,219) (59,662) 375,337 (310,174) EFTA00622081 SR_LC PM Bank accounts .:EE and Related Entibes Cash Summary 4,30f13 14.360.678 26945 14,387,623 JEE Bank amounts 1,072A86 JPM (Bear Steams) 666.913 JPM 56820 Butterfly Trust (Bear Steams) 8 044 1,804,265 JEEPERS JP Morgan 11,853 436 11.853 438 HAZE Test JPM 28.355 28.355 Southern trust Company JPM 8 092 702 Bank accounts 56764 8.189 466 Enhanced Education 4,565460 4 565460 Total Cash 40 828 607 40.828.807 Ns does not mauls cash in JP Morgan trading account 1.196.197 EFTA00622082 -RE and Rested Enna. Pa/abbe Ecuitv for investments 4432/13 70.503 20,000 21,753 283157 17500 10,555 2.005 140,490 SFLLC SFLLC SFLLC HATE HAZE FT Real East* FT Real egabe STC Mort Inc Securetlea Long a Fair Market Value Nara Read Eiornbanbor JP Morgan Apollo Gkabai Management Facetmin <purchase] 5422/12) Mod Pleentwesegelle Megan CEC JPM FltRale 4141E SALLCOastory Pecialkis FTC) acal Triong (sae attadad) SFLLC SFLLC SFLLC SFLLC SFLLC SFLLC SFLLC Jericen Purchena 4733913 301/13 panba) 1,324250 1,327775 (5S25) 79,535 70335 202 1.003115 1,032397 33.718 7,054,126 5004,717 1,309,4410 4455975 4471550 38.325 24450 205953 (3.473) 453058 403,534 55.124 5,950 1.520,320 1,511,347 3,002 unnoticed nakned-2010 ~ad -2011 reakno0.2012 real:012013 Toed P&L areas batten Investments allo 40013 al Fair meat ~to TUDOR FUTURES HIGNBRIDGE CAPITAL ABS Tame Oast valuate 7731.09 FTC recur es rntneary cartoons) HIGH8R1CCE CAPITAL KING STREET 21 Era 2051344e (et carel2 Coliontia Poldngtt co«) Mean Soil:ions (et oaa)(1,142,557 w 54.« A Pld fj 4375 per ah) Alleecom (one bra) (1250333 ah onermen. 895,301 la Set 5 pre 12294 525 10 775200 1 512840 7,7/9,728 NM Pal 2010 (1.519593) (5,992209) Net PM 2011 (741,052) 1,541,540 Not PL 2012 11.034.502 0105574 Net Pal 2015 1.364343 (8002470 10 758 320 10755 303 13,100250 10919,941 331,542 35,035,648 24.593,003 920,503 559333 500,000 22.221.222_ sistujp_ EFTA00622083 Southern financial Lit Analysis of Investment investmer8 FMV unrealized 4/30/13 Gain(loss) ML Hertz 12/15/05 5,100,000 distributions 8/11/06 (2,160.021) distributions 12/11/06 (502006) distreilions 7/26437 (2.440906) clestributions 42011 (1,297.352) dstributions 12/12/12 308 976) (2,667,261) 3,873.688 6 340249 final castnoution BS ABS 1129/06 10200000 distribikans (3,907 753) 6,092,247 331,882 (5260365) Holbridge Capital Corp 111/01 25,030030 distnbations 228/06 (25 030 0001 18.919 941 18219,941 This represents the total of H.ghtedgc Centel Corp. and 1103 Multi-Seated/ Holdings Ltd Tudor DBZwvn 1/304)1 5,000,036 1/14113 cistntxtion (4193.309) 806,700 13,100 259 12 293 559 JEFFERS 4/29/02 'Tweeted 10.003.0X) IY30/02 Invested 10,000,000 12/2/02 fleeted 30,003,030 82.03 Mieqed 10,000,030 1/3105 irwristed 20.000,000 12/21/12 cistributlon (6,541292) 4112/13 distritxtion (9 811 938) 63,646 770 Galena receivable from Fortress $63,8413,770 DBZ- sat rent Tim. eased on the f000w fl OSSurretens the hind will recognize a withdrawal amount paya tie to Jeerers totaling $70 :Mien 70,000,000 ,;eepers will receive an interest of G Cutrins ptshp interest valued at approx $3.8 ml lion with a 5,0110,030 backstop payment from G. Dubin equal to the excess of $5 mil on over to aggregate value of all deflower% made with reaped to Pis investment JEE will pay $1 neon lor Zwirris interest n Commn. JEE will rercleve all diaibutions t.cto $2 million 1,000,000 and tre remaining detnbutiore will be divided 5050 between JEE and Zwim 76 003 COO EFTA00622084 Hue Trust Analysis of Investment unrealized Irwestment FMV 4/30/13 Gain(loss) Hight:of-tripe Capital 4/20/99 10O41866 35O35,646 24,993,980 This represents the total of Highbridge Capital Corp. and HB Muth-Strategy Holdings Ltd. King Street 11/1/99 10,0O3,000 728,10 50% redemption (2O06O,787) (10090,787) 24,590,933 34,681,390 EFTA00622085 ENHANCED EDUCATION 4/30/13 TOTAL PARTNERSHIPS 6 CASH SECURITIES JP Morgan (Forrrerly Bear Steams) 4,522,308 4,522.308 BANK 43,152 43,152 TOTAL 4.565.460 4.565.460 EFTA00622086 Beet Spero Pant Mcled Secede DetributIons Received FTC Taal Partnerse'D & Tait Partnerthip That 1)9/06 1.047.29100 1p17,291.00 3/12925 31015.00 431,01500 4/14/230 47,707.00 147,707.00 5/14/0. 47,707.00 147,70700 6/16/06 35,37100 135,377W 7/16/08 1471100 110112.03 8/21/08 24615.00 110,62500 9/23/08 20,57600 110,578.03 10/21/08 92327.0) 92127.0) 11/25/08 235,953.60 84953.00 12/22/08 73,67040 73,67000 1/23/09 71670.00 73,670.05 2/20/09 73.614.00 73,61420 3112,009 67,0440 67,43400 4/30/09 66,44300 66,44.2.00 5/29/09 57,916.03 57,8610 7/2489 NO6 A 64,312740 84187.00 8/26/09 47,911.00 47,911.00 9/21/09 35,71100 34711.00 12/2/09 87,166.00 8799400 1/8/10 25.08.30 23,07310 2/8/10 31,07344 31,07344 3/8/10 3314:643 33,60183 4/6/10 22.613.71 2291311 5/10/10 2611318 26,315.18 6/8/10 73,24311 25.243.91 7/8/10 /9,96145 39961.45 8/10/10 22,012.06 22,0848 9/8.60 2410941 2418341 108380 20.52731 20,52731 11/8/10 23,336.55 73,33635 12.01/10 25,234.17 25,234.17 1/10/11 2497331 24,62311 1/32/11 Noei 6 25,793.17 23,793.17 2/8/11 2616612 26,94692 3/8/11 26.31300 26,31300 48/11 21,112.23 21.11223 5/9/11 21,55736 2115736 6/9/11 8.678.74 8.67674 7/6/11 16,69035 16,690.35 8/8/11 15,596.19 13,59639 9/8/11 16,810.22 16,81022 10/12/11 15,8/9.76 15419.76 11/8/11 17,377.32 17,377.32 12/8/11 17,132.49 1743249 1/9/12 18,088.73 28.01673 2/8/12 16611.56 18.611.56 3/9/12 19,76140 19,767.40 4/9/12 17,62223 17,62223 5/1/12 16400.79 16,80279 6/882 17,40130 17,40130 7/9/12 16.16530 16,16530 8/9/12 16,60296 16,60296 9/11/12 14,87240 14472.40 10/9/12 154441 15,64511 21/8/12 33038.04 15,031104 17/202 14,20121 14.20621 1/9/13 14,594.00 14,594.00 2/W13 13,897.23 1187.23 3/8/23 13,251.21 13.25121 4/15/13 12 22345 12,22365 Tots 3,907,753.04 3313,595.17 794,15747 FTC Inwood $10000000 In her Steams /sat MAW Walt* on 12/79/06 Destributbre In WS on MOWN Web MOTE A: (reprotents 2 months par Dorothy Orketky) NOTE 5: (audit KI)ustanent In parbsenNp) EFTA00622087 levinresat I Chastbrinattin Conan< FR e Commeety rune Trad" Dato Symbol Share, 11 15-Mn-12 24-lan-13 14-Feb-I2 24-00.12 12.91-10 17.149-12 14-Feb-12 23-Apr-13 • 11 win TU ARIA ARIA OF DAG FE SIM GE 0,500) (39) 9,000 7.535 25.000 50.000 17.500 2,095 23100 Account Position and MTM Summary (Open Positions) Prepared lor Sourn•rn Financlal LLC as ol April 30. 2013 5' 0 .-"411.4 (f.) rf (1 0,C, .4-C— aienVe Win SIMAYeat11, USOM>04 USDARS USOCHE 12.1378 5.1875 0.9295 XAuuSD USOKRW USOCAD 1476.89 1101.28 1.0072 GI3PuSD FURUSD US011t`if 1.5533 USD/PY 1.3167 uSD1DU. 1.792 USDNOK 97.440 2.0013 5.7694 • Intrade Pn n sia Sloom Doodend Frory Curnmt Prot. Comuyny Cuormy Inclustry Ytold Cour 8.00 (S) Slokr.t SidlLP. IS) (Lucy') Oom%) 'ATM Telefonica Sa-Spon Adr USO Cornimmications WIM% 000 20.05 14.57 6.225 Telefonica 5e-Spon Mr USO Communkations 0.00% 1488 (3568) 12.52 14.57 (580) Mad FharrnmeRkals Inc USD maner. Non<ydic 0.00% (1171400) $160.630 19.60 17.87 (115.570) Mad Phannikeuticals Inc USO insumer. Non-cydk 0.00% (1114.600) 5134.650 15.21 17.87 $20.051 Co USD snsunser, Non<ydi 0.00% (1470.450) 5471500 1912 19.14 38.050 Deen Forse nerts Ob Agri Double Long USD Funds 0.00% (1352.550) $499.450 7.05 9.99 3146,900 Facebook 1r0.4 USO Communkatons 0.00% (1665,000) 1485.958 38.00 27.77 (3179.043) @logen Mee Int USO insmeer. Non-cydk 0.00% (1250.455) 1458.658 119.55 218.93 3208.203 Genera! Merk Co USO inductrial 3.41% (1495.190) 1512.670 21.53 22.29 517,480 152.494.077) 52.70%2 5214.21 Sbvctured Nota* • Trad* Dato Matunty lort Amount Man WI PrK MMor n Ineen:ment Bank as of tong Deoription Con Baso (S), ?Aarket Valuti IS) Intoomt ReCtived Hors Pro" (Si Curumt Pm. ‘5) MMS 22-Nor-13 1,000.000 Gs Note 11/22/13 tnkd To Men Vs Usd 85%Itamar. 5% AVn Cpn-2 .9%M.inm (31.001000) 31.137.180 10 110100 1113.72 3137.180 9-14913 24-Jan-14 1,004000 list< Ren Ulked To Cith Vs Usd 5Xkv. 500%Mazdzo 01/09/13 wem Strike:6.199S (31.000.000) 31.010,800 30 1100.00 1101.08 510.800 1444913 20.Aug-14 "000 MS Mark« Plus PARK 08/20/14 80% EKO Barder- 3.5% CPN. Uncapped MMO level Z ($1.000.000) 51.120.350 30 1100.00 1112.04 1120.350 5.4pr-12 16-Apr.15 1-0 Mentor CLN 6.200% CPN 0406/2015 Dtd 04/16/2012 (51,500.000) 11.573,800 $69,888 1100.00 3104.92 $143.688 US. Reed loomte • Intrada Pria Na eloombe IrSde 03t0 Maturity Tare Amnunt Iqunr SBP Rating Nest Call Date Coupon Prostipal Cost Market Value Total Int 'Weid to Worst &dry Pro• Current Wow NOTA Accrued 22 feb.12 15.1ar.-2018 1.000.000 Nrg Fnergy lot 1111. WA 7625% IS i.00i.S001 11.158.760 190.653 3.89% 5'00 15 5115.84 $247.913 22-Oct 12 01-Apr-2019 1,000.000 Headwaten Inc aa 4/14015 7.625% 01.035.000) 11.087.500 139,819 4.71% $103.50 $108.75 392.319 22.0ct-12 15444y-2019 400.000 Eardslink Int 5/15/2015 8.875% 0414.009 5425.300 518.539 7.04% 1103.50 5106.33 329.839 23-Oct-12 15499-2019 601000 Fartblink e- 5/15/2015 8.875% ($619.500) 1437,950 327.660 7.04% 1103.25 5106.33 544.110 1.0ct-12 01-Mn-2019 1.000.000 Kirdred Nealdscant Int 6/1/2014 8.250% (1996.250) 11.037,500 147.196 6.96% 199.63 1103.75 $89,146 8-Nov-12 01.9n-2019 1000.000 Kindred Healdware Inc e. 6/1/2014 8.250% (5970.000) 11.037.500 139.417 6.96% 197.00 3103.75 1106.917 24-9n-13 15-1•920310 1.500.000 Senntemaster Comparry 8. 2/15/2015 LOM% 01.595.625) 51.616,250 531000 6.10% 1106.38 1107.75 552.625 25-Feb-13 15-Feb-2020 Or) Senrkemaster Camper" 2/15/2015 8.000% (91.070.000) 51.077.970 $14.444 6.10% 1107.00 1107.75 321.944 3.49.13 10.494023 300.000 tardayt tank Pk afilk 4/192018 7.750% (3300.000) 3304550 11.7M 7.05% 1100.00 3102.55 110,294 15ijun-11 Prpritual 2.500.000 kamorgan ChetoCo s's camel 8 7.900% (52,702.425) 32.910.500 5370.313 4.22% 110610 3116.42 $574319 15-kin.11 Perpetua) 2.500.000 »morgen aam 4 Co 585 4/30/2018 7.900% (32.707.425) 32.910.500 3371313 4.22% 1108.10 1116.42 1578346 10-lan-11 Perpetue 2.000.000 (bink Of America Corp BN 5/15/2018 8.125% 02.081,189 52.250,030 3374.653 4.95% 110406 3114.00 1573.473 30-lan-12 PerPetud 3.000.000 Soutbern Cal Edkoo Pt- 2/1/2022 6.250% 152.999.970) 33,383,370 3234,375 4.47% 1100.00 3112.71 5417,775 27-Jun-12 Perpotial 2.001000 Genera] EI« Cap Corp AA- 6/15/2022 7.125% (12.172.920) 12.313,000 1119,938 4.97% 1106.15 5115.65 1310018 EFTA00622088 sena von serums. •I•Or GI <nein, lereatwet OneericesioNa Account Position and NUM Summary (Open Positions) Prepared for Soothe, n Financial LIC as of April 30, 2013 Current Fit • Commodity rates International Fixed income Trade Dote Matur Iv Face Amount 9.0O.1 11.0ct.12 10-May-12 26-lan-12 13-00-10 02-Nov-201 02-Nov-2017 16-Dec-2021 15-Dec-2035 15-Dec-2035 500.000 1.000.000 1,500.000 7.500.000 10,000,000 USIDIAXN USDARS USDCHF 12.1378 5.1875 0.9295 RAUUSO USDKRW USDCAD 1476.89 110128 1.0072 GBPUSO EURUSO USDTRY 1.5533 1.3167 1.792 USD/r1 US06111. USONOK 97440 2.0013 5.7694 • Intrada MO via Blembe Issue SAP Rating Currency yr..mi Cott (SI Market Oak,. IC) lob,: mt Accrued IST Yield to VVentt Entry Price Current lance (tocal) (Loran /AIM Peteoleos 1 Venezuela • U (5440,250) ett 123,729 88.05 96.75 67, 29 Pe-trot:a Ot Venezuela II+ 1.150 8300% (1897.500) 1967.500 146.986 9.40% 89.75 96.75 1116.986 Uoyd, Tsb Bank Mc 1186- USD 9.675% (11.627.500) 11.815.000 1144410 3.57% 108.50 121.00 1331.510 Republic 01 Argentina N/A USD 0.000% (51038.750) 1404200 1469.920 13.65 5.42 (5162.630) Republic Of Argentine WA ARS 0.000% (5318,000) $15.455 1326.246 12.56 0.80 123,701 Amet Bodged • Manual Poo • via .IPMor. n Investment Bank 505.11 Pram -MI kntry Pr de Current Price wed Trade Date Maturgy Or,glnal Farr Issue S&P Rang Nest Call Date Coupon princ.pui Cott (5) Woke. iS na) (Local) (Loran NOM 4-14.1 25.Aug.2029 9.551,, •"' IMP` •••• I IMI CCC '"viol 1.100% (5567.273) 1555.653 ••• 56.25 5625 57.780 6-Arb-13 20-Dec-2032 5.701.000 Semt 11 81 CCC WA 1.654% ($781.919) 1800.102 117.394 73.75 76.55 136.276 5-Nov-12 25-Nov-2032 1.750.000 Grad 2004-A 03 ccc WA 5.250% (1581601) 1531.434 182.116 80.50 80.90 534 349 23-Aug-12 25-Aug-2033 3.325.000 CAN 2003.26 81 5/25/2013 5.337% (31.231.222) 11467.279 1201.167 77.00 73.82 137.224 14-Nov-12 25-Apr.2035 10.000.000 Imm 21:05.2 1M1 CCC 5/25/2013 0845% (11,165.8901 $1,211.671 166401 70.00 75.48 1112.068 211-tiov-12 25-Feb-2037 11.18(1.000 Chan 2007-Al 2M CCC 8/25/2024 2.990% (12.042.809) 12,016.660 1209428 8/1.50 95.62 1163.679 16-Apr-13 25-Mar.2033 4.500.000 Cvehl 2003-1 81 512512013 5.750% (11,444603) 11321.144 170.100 9530 91.12 ($57,559) 30-Apr-13 25.Apr.2933 2.726.000 Sac 2003-1012 CCC 12/25/2013 6.000% (11,074713) $1.076.783 (1359) 100.00 100.00 ($359) EFTA00622089 (aloha mateermehe cionortos i.e GI Account Position and MTM Summary (Open Positions) Prepared for Southern Financial tic as of April 30. 2013 Current FX • COMMOdIty rotes VSDMX/1 I/SOARS VSOC-111 12.1378 5.1875 0.9295 XAUtISO LISDKAW USOCAD 1476.89 1101.28 1.0072 GONAD (VIWSD USOTAY 1.5533 1.3167 1.792 USDPer USDIIRt VSDNOK 97.440 10013 5.7694 Usted Peerfeneds Trade Date Maturity Shares Company S&P Ratan) Par Amount Cantor. Principal Cat IS) Market Value (SI Divociends (S) Yield to Worm Rec•iv•d Entry Price (Loral) Current Price (Local) teiTM 18-Nov-10 12/1/2013 4000 General Motors Co WA 150 00 475% (4100.000/ 5371.840 545,494 19.21% 50.00 46.48 $17.334 9-Dec-10 12/1/2013 63000 General Motors Co WA $50.00 4.75% (33.185.973) 12128140 $349,541 19.21% 50.57 46.48 191608 15-Feb.13 2/1/2016 6,000 Otte Natural Resources WA $25.00 7.00% 0150.000) 1122.120 51.021 15.27% 25.00 20.47 316.1591 22-Feb-12 2/15/2040 80.000 Gmat Capital That I CCC. $25.00 6.13% (31.682.800) $2.191,200 $166,111 5.07% 23.54 27.39 $474511 15-ian.13 1/15/2073 25,000 Nesters Energy Capital III $25.00 5.00% (1625.000) 5619,750 15.122 5.04% 25.00 24.79 ($128) 340-12 Perpetual 44600 Ally Financial Mr CCC. $25.00 6.50% (31.002.226) 11.247,482 1117.730 5.86% 21.51 26.77 $342.906 94,012 Perpetual 84000 Ally Financial kw CCC. $25.00 8.50% (51.780.000) 12.141.600 3199.278 5.86% 2125 26.77 $560.878 1744M-13 Perpetual 27.000 Votnacto Realty Trust BBB- $25.00 5.40% ($675.000) 1672.570 13.443 5.45% 25.00 24.91 11.013 24-Oct-12 Perpetual 40.000 Royal BR ScotInd Grp Plc BB 325.00 7.25% ($951.600) 11.006.800 124.569 540% 23.79 2577 $79.769 7-Jan -13 Perpetual 40.000 Royal Ilk ScatInd Grp Plc BB $25.00 7.25% (5977.600) 11006.100 19.861 140% 24.44 25.17 $31068 14-ian-13 Perpetual 40,000 Royal Bit Scodnd Grp Plc BB $25.00 715% (4995.200) 51.006.800 16.451 5.40% 24-88 25.17 120.058 2-Aprl3 Perpetual 35.000 Digital Realty That nc elk $25.00 5.88% ($875.000) 1874.300 SO 5.90% 15.00 24.96 (1703) 16-Apt-13 Perpetual 11000 lint Republic Ilank/Sf N/A $25.00 5.50% (1300.000) 1298.320 SO 25.00 2486 $1.6601 Mutual Funds and Market Oath) Dat. Symbol Units Company Curremy Initial Cost (5) Market Value (5) Received IS) (Local) (Local) Drv.dends Entry NAV Current NAV MTM 2 Apc.13 Jinx 49 504.95 liamonaan Latin Aireka-5e1 050 EFTA00622090 GI whine] Immtimat OnarrtiamIalm: Account Position and MTM Summary (Open Positions) l". it. n 6 %aat ' financial LLC as of April 30. 2013 nuesimr• mamma 4.1A.. USDMXIII USDARS USDCHI 12.1376 5.1875 0.9295 MOUS° USO011W USOCAD 1476.89 1101.2$ 1.0072 EURO%) USOTRY 1.5533 1_3167 1.792 LOOPY USDIRL LISONOIC 97.440 2.0013 5.7694 • Rats sourted intrada from Bloomber Notional 6.190,500 Sold EUR Notional 4000400 rm Oat.' 1 May.13 Contract Spot 1.2391 Contract forward 1.2341 Current Spot Rate 1.22387 Current ward 1.22386 Mid 224609 5.000.000 KRW 5,581.750.000 15-Jun-13 1116.35 1116.35 1101.08000 1,103.00500 IS93.494/ 967.000.000 CAD 14000,000 21.May.13 96.74 96.74 96.68900 96.63410 $10,870 • MTM Modelled vta Bloom Currency Ongtnal Current Premiurn Currency I Type .1 Notional Strtio Currency > Type Barrier Type Premium 15) IS/ MTM Put 10.000.000 . II • I am 19347.8091 11,610.17 •+, Call 10.000.000 76.90 CAD Put FAA IG • 69.65 1347,809 10 1347,809 SO $1,610,178 51,610 128 • MTM Modeled Na illoombe Ontitnal Current Pverni um Commodity Type Notional (or) Strike Currency Notional Proirnivm (5) (5) 1,11M 100.000 111 11,100.000 Put 11-1u1-13 ($86.00d) 376.367 34) COM) Put 100,000 87.5 8.793.000 11"ful-13 $96,000 ($57.909) t$9,03) 126.091.26 SO 518.458 518,458 Underlying Share. ante Spread Notional Accrued Interest Critry Price Divtdends Current Price Paid Nora!) Fantod (Local) Apple Inc 4.430 3ml 1.00% 12,017.023.30 (56.110) 645531 $0 442.78 1SG 6642) Kospl Trans0Ott (quipm 688,972 3/M. 0.70% 11,991999.37 ($2,325) 2504.92 SO 1279.26 0162,466/ OMMOW EX 8 Catamodlty rubs Ileraged Coretnteta . ..o Value Oats Bought 1.1 40-13 6-May-13 Olf 141-Mer.13 18-Jun-13 VSO 23-Apr13 28-May.13 111 ens Trade Oate Fspiration Direction Alum- 8-Aug-12 08.0ct.13 IX Option, ?ATM COMM& a.ars 00 I Sold Trade Oat, IrepirattOn Oirttlion 19-Apr-1 19-4.4-13 11.1 .1 Snug • 11.3/4-13 lorrintna .y..(tptnn ,torvi Tetetl %Atm Sw (t..,u, date Effecb" DIM Sold Maturity Date 3-Feb-13 5.140,1 ISIMA13 19-Mr-l3 20-Mar-14 64)/ LO ft / SP lope WO/ST Dedvallm AltimmOve Other I lamelloneom reed 20131Mfoman Chan &Oa. 1214.216 5211,558 $025,274 36,112,197 11,063.396 $7,175.593 EOY Open Mkt 15,869,937 SO SO SO Cureent Opm MTM 67.743,369 15.446 10 $5,446 31.431,511 U1.935103/ ($501.69/) Cheng• S. Open M11.4 62.071,232 SO SO SO 2011 Closed M. 0,460.240 SO 10 SO Vaasa "660.209) P•103.120 )09891118010101IMIIIIS Sletnin EFTA00622091 C - 1 CO csionei ttereement or Cprent IX i Convnedity ment •JI OIMP bra.• SW.4 ‚Ma 1.44... Account Position and MTM Summary (Open Positions) • or Hete Trust as ot April 30. 2013 USOM/04 12.1378 XAUUSD 1476.89 GlIPUSD 1.5533 USD1PY 97.440 USDARS sirts U502AR 8.9747 EURUSD 13167 USDIRI 2.0013 USIX141 0.9295 USOCAD 1.0072 USOTRY 1.792 USDNOK 5.7694 7.1un•12 26 Moll 3000,000 5.Apr.12 16-Ape•is 1,500000 j1 Uos Cont Bolt (q AAPL 06/26/13 80% COr.tln Center- 18% Cpn 18% Cap 6440tOr 024 6.200% CP11 04/16/2015 Otd 04/16/2012 43.000 000) (11.500405) 62.3419,900 61,573.800 10 $.69,887 100.00 78.33 $100100 5104.92 (5650.100) 1143.687 !...• -1 154,500.000) 51.923.700 569,887 (5506.413 Flx•d Ineana • tntrad Prg sea BIOOm Matur ily I ace Arnount Issuer SAP Raung Kert Call Uate Coupon Princepal Cott Market Valu. 'tatai int Entry Pnce Current MT lA Aca ued 104.189-11 01-Nov.2016 1.200000 Peabody Emegy Coep Ok N/A 7.375% (11.3e) .00) 11,379.340 6174.542 113.63 5114.95 5190.382 2-041-12 15-May.201$ 500.000 (04Yrnent Int CCC. 5/1507015 10250% (6945000) 1462.500 529,611 549.40 592.50 $47.111 2-0C-12 Olutun.2019 1.000.000 Kindred 14•91tionlm gintao14 $.250% (1996,250) 11,045,000 542,667 699.61 51(4.57 596.417 10-649.11 Pepettal 3.000.000 1pmargan 044 t Ca ITM 400/2018 7.900% (53.337,950) $3.492.609 5467.417 5111.27 5116.42 5622.067 10-May.11 Pepetual 3,000000 lene 01 Amence Cerle 8S• L15/2018 8.125% (53,339,610) 53.420.000 5480.729 5112.99 5114.00 5511,119 (59.532,310) 59.799.440 51.199,965 51,457,095 • • • . • end Amit Neked • IMnuel Pric • vmh WhIcw.an Irrontrnent Link Trade Date Maturdy Original race issue 58.P Rating Next Coli Dalt Coupon PritnipAl Cott (5) Market Value IS/ 15/ 10-May 1? 25-Mar.2037 1.000.000 Chase2007,41 12A3 Mortgage and AssetBmked RRM Mtrtual ~Ma und ~ne ~ot Trade Date Symbol Und: Cnmpany Currency Totai PrinrxInt 12/25/2024 5.140% 9125 571 6.) $635.272 5142.734 (5721,5)4) Indiai Cost (5) 5615.007 5268,805 !Park.< valu* (5) Dividendi gereived (S) tnery Per. Currxrd Prio. 78.50 Entry NAV Ilac.11) 83.13 Curront NAV MMM 52,432 !AMI Avg snisx 199.558.15 1p/notgan Floaung Rage-Sel USO .2.013.501.47) 52.021.524 10 10.08911 10.13 023 Avg OHYFX 317.095.54 1prnorgao High Yleld.Sel USD (2.624.429 14) 52,650.919 ON/Re $.2765 8315 $26.490 MITI.0 FI/>r 60 $1,013.iis 'epe 60 IST 134.512 DeOratlye 50 Altemetive 80 Othar Mlemilamoue 50 GÉM SlafaO $0 5625.806 50 (524.953) 50 So (Q 20131PMargen Chas• • Co. 50 51.6311,921 $0 59,559 50 10 50 2012 109 Op•n RIM 91,850.684 Ond Op on 6917/1 91.047,1127 YTD Oplepe ti Open MTM (5101.037) 2011 Omed M. 1400,1133 (1.441.11S) $13TMOMITTPTITST ~mit) EFTA00622092 50'g/term —fiti, Co . semearen amen w. Account Position and MTM Summary (Open Positions) c.roirai serest...me csorsonuairree Prepared for Southern Trust as of April 30. 2013 CIAITIM1FX & C.onessodIty notes USOMXN USDARS MOP 12.1378 5.1875 0.9295 XAUUSO USDZAR USDCAD 1476.89 8.9747 1.0072 GBPUSD EURUSO USCITRY 13533 1.3167 1.792 Structured Nola Trade. Dale Maturity Face Amount tong Description Cost Basis (5) Market Value (51 Interest Received Entry Price (S) Current Prise (5) MTM 13 Mar.I3 27 Ma..14 1,000.000 HM3C BRA. Step Up - 65% Beaver - 5% Cps - 28.5% MeMn. Initial Strike 1.961 (31M0P00) 5967.900 so $10000 59619 S32.100) 5.Apr 13 21 Apple IDOOCCO NSBC IN-Step Up - 85% lanier - 5% Cpn • 18.5% Martz; Initial Strike 2.0035 (31.000.000) S9918500 So 5100.00 599.85 '51.500) • Manuel Pr l<InC/ via PMor. n Investment Sank as of ono•oa USOWY 97.440 USOBRE 2.0013 USDNOK 5.7694 • International Fixed Income trade Date Maturity Fare Amount Intrada Mc' via B Issue 569 Natmg C urtenry Caution Ouro.p.0 V' iur hot. I In, intr 1/4,d , 15 Entry Price ROcal) Current Price (local) MTM 284,1513 02.Nov.2017 1.000.000 8-14er-13 01-Nov.2017 1.000.000 Petroleos De Venezuela 5 Petrokos De Venezuela S Be 96 USD USD 8.500% 8.500% 31.000000) 0985,000) 967.503 $967,500 $14.167 S12.278 100.00 96.50 96.75 96.75 0183331 ($5.212) 0~ Wiwi 2013 Closed Ps. Open MIM . 2013 boiled Performance Snapshot IQ/ tO $0 71 71 El (SP ($57.1sc( (56.398) ($63.553) 2012 EOY Open KM $o Repo 50 SO 50 Clair Open PITA (557.156) ME/ 57 50 $0 $0 Derivative 50 50 SO YTD Change In Open &MI (557,156) Alternative 50 SO $0 2013 (]Deed (55.927) Other / Mime' laneous SO 50 $0 Totale (457. 3t) iistAta Clirki42) 2011857tPcrironverems 361,082) IC led I ',Morgan <ham ♦ Co EFTA00622093 Trade Date Symbol Shares 19.614r.13 20-Mar-II 20-Mar-13 21-Mar-13 22-Mar-13 26-Mar-13 284Aar.13 3-Apr. 13 MEP MODN ENTA GPK CUM TUMI ARCC Equity Pk Equity Syndicate PA. Listed PTIO•1711•11 4,000 900 4.000 400 3,000 3,000 2.000 3.500 Trade Ciao Maturity Shares 15.tVar-' 3 Pomona) 45.000 19 lea ' 3 Perpetual 40,000 2i.factiffir.fn,•dgkr P) CFille2r f — dis151M1:11raly11,1 1121:11 103 (C)2013.1P1Aotgrn 0.14 a Co .r. nwrysr ,20.1•Aattell• MA. Account Position and MTM Summary (2013 Closed Positions) Prepared for Southern Trust as of Apra 30. 2013 Company Currency Industry Dividend Yield Cost Oasis (S) Market Valor (5) Closing Date Entry Price (Local) Closing Price (Loral) Hod, Energy Partners 1p USD Energy 4115% 160.101 19.Mar-I3 40 80 40.03 Model N Inc USD Technology 0.00% (513,950) 518234 20-Mse13 15.50 20.26 Hawaiian Elect* Inds USD 445% (5107.000) 5107,398 20-Mar-13 26.75 26.85 5724 Inmate PherniaceUtIcasInC USD wormer. Norycyclir (S5,6C0) 56.324 2144•03 14.00 15.11 5724 3rephk Packaging lidding Cr USO Indusbial 0.00% (521.000) 321.210 22-Mar-13 7.00 7.07 3210 Calumet Spedetty ProduCtt USD Energy 720% (5112500) 5111.128 2644ar-13 37.50 37.06 (51,322) Tuml Holdings Inc USD smumer. Non-cyclii 0.00% (542.200) 5.41.899 25-Mar-13 21.10 20.95 ($301) Ares Capital Corp USD Financial 8.37% (565635) 561.214 3 Apr 13 17 61 7.49 1$42,) 5471 5471 Company S&P Rating Par Amount Coupon Principal Cost (5) Market value (5) Dividends Received (S) Closing Date Entry Price (Local) Closing Price (Local) PA ells tango & Company BBB+ $25.00 5.25% ($1.121, CO2) 1.121.825 28-M4a-13 25.00 14 91 OtirOuP Inc BB 325.00 5.80% (51,000,000) $566,270 349611 2$.00 24 92 (S3.2[), (56.398) (56,398) EFTA00622094