EFTA00811866.pdf

Valuation Report 8/31/2018 EFTA00811866  SUMMARY OF ASSETS - AUGUST 31, 2018 7/31/18 8/31/18 $ Asset Value Value Change Cash 92,429,110 101,512,764 9,083,654 Fixed Income 69,199,199 61,437,427 (7,761,772) Equities 131,074,081 141,426,424 10,352,343 Equity ETF's 874,380 875,160 780 Options 122,392 168,553 46,161 Hedge Funds 99,608,897 100,343,432 734,535 Investments 52,318,855 52,492,187 173,332 Aviation, Automobiles & Boats 22,525,000 22,525,000 - Loans Receivable 16,039,472 16,039,472 - Fine Arts, Antiques & Jewelry 9,900,000 9,900,000 - Loan Payable - BJAV 30 500 000 30 500 000 - Total Assets 463,591,386 476,220,419 12,629,033 Cash Activity - Items over 50,000 Sold 4,000,000 Royal Bank of Scotland Preferred at 95.85 at DB 4,759,908 Sold 100,000 AMLP @ 11.24 at IB 1,119,515 Sold CD Projekt - Poland 1,084,774 Sold 1,000,000 Service Master Bonds @ 98.375 at DB 1,004,884 Sold 1,000,000 Plains All American Pipeline 6.125% preferred @ 98.5 ML 985,000 Dividends, Interest Income & Other Distributions 838,000 Sold 50,000 AMLP @ 11.23 @ IB 559,713 Sold 40,000 SGMO @ 13.83 at TD 552,614 Sold 500,000 Plains All American 6 125% preferred @ 98.5 MS 499,725 Sold 43,000 AMLP @ 11.30 at TD I 485,916 Sold 1,200,000 Washington Mutual Mtg 2004-RA2 @ 87 at DB 412,499 Sold 5,000 TSG @ 31.92 MS 159,417 Sold 4,995 Seaspan Preferred @ 25.04 a IB 122,717 Sold 50,000 SQBG @ 2.12 MS 103,886 Humanity Plus -Gratitude (50,000) Edge Foundation - Enhanced 25k & Gratitude 35k (60,000) LSJ - Cherrington 5500 (121,800) Miscellaneous (169,100) EFTA00811867 STC - Seaford Avenue Capital Draw (173,332) LSJ - Cat 303 & 307 equipment (192,884) Birch Tree LLC funding (200,000) Zorro - Paving Deposit of 40% (272,098) MS - Gratitude bought 10,000 shares of World Acceptance @ 111.07 (1,110,700) Monthly Spending (1,255,000) Total Cash Activity - Items over 50,000 9,083,654 September Cash Spending CVNA - 125,000 shares @ 66.006 8,250,750 MSFT - 10,000 shares @ 111.33 1,113,298 CTL - 10,000 shares @ 21.18 211,827 Euro bond via Paul 2,915,396 Total Cash Spent September 12,491,271 EFTA00811868  Deutsche First Banco Pop Wells Morgan Interactive TO Asset Description Bank Bank BNP Paribas Fargo Merrill Stanley Braun AmerItrado Totals Cash Haze Trust 41.681,487 41,661.487 Southern Trust Company Inc. 7.245,194 685.680 299.452 4.314.329 4.885.951 17,430.606 Southern Financial LLC 8,729,146 100,366 5.280.333 14,109,845 The 2017 CatepIllar Trust 13.548.085 13548.085 Gratitude America, Ltd. 2,347,269 156,406 2039351 5,543,026 JEE 3.057.524 182.445 7.027 3.246,996 Jaspers Inc. 1.497.593 7.009 1.504,602 LSJE LLC 178.628 511.687 341.721 1.032,036 Butterfly Trust 705.281 705,281 Zono Management LUX 416.616 416,616 FT Real Estate 382,485 382,485 Southern Country International LTD 361,873 361,873 Plan D LLC I 312.178 312,178 JEGE LLC I 284,983 284,983 NES LLC 231.503 231.503 Neptune LLC 179.689 179,689 Hyperion Air LLC 147.203 147,203 Thomas World Air LLC 92,425 92,425 Enhanced Education 12.189 62.682 74,871 Nautlus Inc. I 54.587 54.587 JEE • Paris (US 5) I 42,743 42,743 Laurel Inc. I 36.829 36,829 Maple Inc. I 31,484 31,484 Cypress Inc. I 29.386 29,386 Freedom Air Petroleum I 22.512 22,512 JEGE Inc. I 8.366 8.386 Groat St Jim LLC I 6.000 6,000 LSJ LLC 5.150 5.150 Mechelles Transportation Co LLC I 4.733 4.733 Mort Inc I 4,553 4,553 FSF LLC I 337 337 The JEE Life Ins Trust N3 206 206 IGO Company LLC 90 90 Total Cash 80,567,692 2,638799 349,222 341.721 4,314,329 3.039,351 4,986.317 5,280,333 101,512,764 EFTA00811869  Purchase Quantity 7/31/18 8131/18 Unrealized Asset Description Symbo Date Cost Value Value Gain (Loss) Haze Trust - Fixed Income (DB) Citbank Preferred Ser K 6.875% 2/3/14 79,000 1,999419 2,194,620 2,188.300 188,881 JBS Investments 7.75% October 28 2020 5/18/18 2,000,000 2,046,231 2,089,911 2,084.548 38,317 JP Morgan Chase 7.9% Pfd 4/30/2049 05/10/11 3,000,000 3,337,958 3,013,686 3,036,541 -301,417 JP Morgan Floating Rate Income fund 01/22/13 251,591 2,512.832 2.349.054 2.357.402 -155,430 Total Haze Trust - Fixed Income (DB) 9,896,440 9,647,271 9,666,791 -229,649 Jeepers - Fixed Income (08) JPM Floating Rate Income fund 02/13/13 188,468 1.879.415 1.759.692 1.765.946 -113.469 Total Jeepers- Fixed income (DB) 1,879,415 1,759,692 1,765,946 -113.469 Gratitude America - Fixed Income (Morgan Stanley) Frontier Communications 7.125% Matures 3/15/2019 10102/17 1.000000 997.322 1.031.917 1,036.604 39,282 Plains Al America 6.125% 10/10/17 500,000 492.715 • 0 Total Gratitude America- Fixed income (Morgan Stanley) 997,322 1,524,632 1,036,604 39.282 Southern Trust Co. - Fixed Income (DB) Buckeye Partners Fixed to Real 6.375% Caltalsle 1(22/23 1/25/18 1,000,000 1,018.741 925,284 958.286 -60,455 Ftoyal Bank Scotland 7.64% Reed to 9'29.2017 Mon 3M Le or •232b0 11/10./15 5.000.000 4.789,780 • 0 Total Southern Trust Co. - Fixed Income (DB) 1,018,741 5,715,064 958,286 -60,455 Southern Trust Co. - Fixed income (Merrill) Bank of America 5.88% Pfd 12-31-2049 03/08/18 1,000,000 1.000,000 990.000 1.000.000 0 LSC Communications Inc. 8.75% 10/15/2023 01/13/17 2850000 2,773,650 2,661,962 2,704.472 -69.178 Rails Al America Fixaine 10/04/17 1,000 985.431 - 0 Total Southern Trust Co. - Fixed Income (Merrill) 3,773,650 4,637,393 3,704,472 -69,178 Southern Trust Co. - Fixed Income (Interactive Brokers) Capital One 5.55% Fixed to 9-1-2020 then 380 over 3 mo fiber 5/14/15 3,000,000 3,009,819 3,086,250 3,093,030 83,181 Charles Schwab 6.0% Preferred 625 par 7/27/15 40,000 1,000,000 1,062,800 1,044,400 44,400 Etrade Fhancial 5.875% fixed to 9-15-2026 then bats 10/11/16 3,000,&30 3,123,122 3.076.500 3,093.750 -29,372 Goldman Sachs 5.375% Fixed to 5-104020 then 392.2 over 3 no fiber 6/4/15 5,000,000 5,034,346 5,096,500 5,162,500 128,154 NGL Energy Partners 9% $25 par 6/6/17 40.000 1.000.000 974000 993.560 -6,440 Seaspan 7.875% Preferred $25 Par 08/04/16 4,995 124.775 - 0 Total Southern Trust Co. - Fixed Income (Interactive Brokers 13,167,287 13,420,825 13,387,210 219,923 Southern Financial LLC - Fixed Income (DB) Assurant Fixed to Float 7% March 2048 3/29/18 2,000.000 2,039,868 2,088,222 2,099,889 60.021 Citloroup Inc - Series 0 5.95% 8/6/15 3,000,000 3,000,006 3,188,808 3,111,073 111,067 Citizens Communications 7.125% Mar 15 2019 10/3/17 1,000,000 1,000,392 1,031,917 1,036,604 36,212 Deutsche Bank AG 4.875% exp 12/1/2032 6/1(18 1.000,000 868,256 891,995 879,998 11,742 Deutsche Bank AG 4.296% exp 5124/2028 6/1/18 1,000,000 917,776 918,235 925,595 7,819 Exetainter LLC 10% July 15 2023 10/24/17 2.000,000 1,940,506 2,071,389 2,120.556 180.050 Exelainter LLC 10% JUN 15 2023 7/9/18 1.000,000 1,028,517 1,035,694 1,060,278 31,761 General Electric Co GTO Fixed to Float 4.0% Dec 15 2065 12/3/15 2,469,000 2,175,016 2,234,719 2,193.569 18,553 GMAC Cap TR I GTD Pfd Sec Ser 2 8 2/22/12 80,000 1,882,774 2.125,600 2,144,000 261,226 JBS Investments 7.25% Apri 3 2024 10/31/17 2,000,000 1,981,300 2,052,125 1,987,740 6,440 JP Morgan Chase & Co PM 7.9% April 30 2049 6/15/11 2.500,000 2,687,500 2,511,405 2,530.451 -157.049 JP Morgan Chase 8 Co Pfd 7.9% April 30 2049 6/15/11 2,500,000 2.675.000 2,511,405 2,530,451 -144,549 JPM Floating Rate Income fund 9/28/17 330,821 3,112,765 3,088,811 3,099.789 -12,976 Lloyds Banking Group Capital 7.5% 12/29/49 5/21/13 1,903,000 1,948,500 1.978.328 2,002,171 53,671 Service Master 7.25% Mar 1 2038 10/20/17 1.000.000 1,030.208 0 Southern Cal Edison 6.25% Dec 31 2049 1/30112 3.000,000 2 996.137 3.292.500 3.195.955 199 818 Total Southern Financial LW - Fixed Income (DB) 30,254,313 32,051,361 30,918,118 663,805 Southern Financial LLC - Fixed Income (DB) face value Washington Mutual Mtg 2004-RA2 cl CBI var 7/25/2033 11/19/13 475,159 442.961 - 0 Total Southern Financial LLC - Fixed Income (DB) 0 442,961 0 0 TOTAL FIXED INCOME 60,987,167 69,199,199 61,437,427 450,260 EFTA00811870 Southern Financial LLC- Equities (DB) Amazon AWN 4/2/18 1.000 1,395,441 1,777,440 2,012 710 617,269 Albaba Group BABA 6/10/15 5.000 444,749 936.150 875.050 430.301 Apple Inc AAPL 12/7/17 314,000 53,321,627 59,751,060 71,475.820 18,154,193 Apple Inc AAPL 6/20/18 50,000 9,339,691 9514,500 11.381,500 2,041,809 Apollo Global Management APO 3731/11 263,157 4,999,983 9,342,074 9,086,811 4,086,828 Biogen Idec Inc Bite 2/14/12 2.095 250,455 700,505 740.562 490,107 Centeno Coro CNC 918/14 15.550 986,497 2,026,632 2,277,764 1,291,267 General Electric (exercise of puts sold at 18) GE 2/24/18 25.000 405.493 340,750 323.500 -81,993 Karyopharm Therapeutics Inc KPTI 7/12/16 25.000 467.106 426.700 526250 59,144 Nintendo NTDOY 2/5/18 10,000 517,906 426,700 449.500 -68,406 Ubisoft Entertainment U8SFF 3/29/18 11,200 974.199 1,237,436 1,207.367 233.168 CD Projekt - Poland OTGLF 3/29/18 20,000 1.080.562 - 0 Total Southern FinancialLLC - Equities (DB) 73,103,147 87,560,509 100,356,834 27253.687 Southern Financial LLC - Equities (TO) General Electric GE mullple 125,000 2,593,861 1,703,750 1,617.500 -976,361 ALPS ETF Alerian MLP AM..P 1/12/18 43,000 470,420 - 0 Sangamo Therapeutics Inc SGMO 5/28/13 40.000 546,000 - 0 Total Southern Financial LLC - Equities (TO) 2,593,8 61 2,720,170 1,617,500 -976,381 Southern Trust Co. - Equities (Merril° Allergen (mandatory convert from preferred) AGN 3/1/18 7,066 1,515,900 1,300,780 1,354,623 -161,277 KBW Regional Bank ETF KRE 11/16/17 9,000 503,167 553,590 568.350 65,183 Facebook FB 7/26/18 20.000 3.559,596 3,451.600 3,514,600 -44,996 0111 Oi Services ETF OIH 5/16/18 17,000 490.376 441,830 420.070 -70,306 XLF Financial Sector XLF 8/2/17 82,000 2,072,448 2,291,900 2,323,060 250,612 Groat= antic( am 3/2a20MaaringraulieaMaaraiderresnla73.5%) 9/25/17 ref price 3555 2,500,000 2,505,025 2,453,400 -46.600 Japan Banks Capped Nolo Exp Feb i 2019 (75% Waif) 1/25118 3.000,000 2,972.100 2,972.100 -27,900 Vertex Linked Note (ceding SW pi spreads and buying VIX cals) 3/8/18 3,000.000 3,049,632 3,074,430 74,430 SX7E Market Plus Note Exp 4/26/2019 (72% binied 10/24/17 3.000.000 2.742.060 2.49078Q -509.220 Total Southern Trust Co. - Equities (Merril° 1 9,641,4 87 19,30 8,517 19,171,413 -470,074 Southern Trust Co. - Equities (Interactive Brokers) ALPS ETF Medan MLP AMP 1/8/18 100,000 1,094,000 - 0 ALPS ETF Alerian MLP AMLP 3/9/18 50,000 547.000 • 0 Broadcom AVGO 4/17/18 4,000 1,002,093 887,080 876,120 -125,973 Broadcom AVGO 5/17/18 4,000 1,000,000 887.080 876.120 -123.880 Goldman Sachs GS 1/25/18 1,850 499,873 439.246 439.949 -59,924 General Dynamics GD 2/7/18 2,300 501,381 459,448 444.820 -56,561 General Dynamics GD 3/27/08 3,450 773,056 689,172 667.230 -105,826 General Dynamics GD 5/7/08 2,500 491,250 499,400 483,500 -7,750 Lockheed Martin LMT 2/7/18 1.400 489,300 456.540 448.574 -40.726 Lockheed Martin LMT 3/20/18 2,100 707,676 684,810 672,861 -34,815 Lockheed Martin LMT 5/7/18 1,500 472,500 489,150 480.615 8,115 Nkilendo NTDOY 5/22/18 20,000 853.400 0 Northtrop Grumman 1400 2(7/18 1,470 493,920 441,720 438,780 -55,140 Northtrop Grumman NOC 3/28/18 2,195 760,159 659.576 655.188 -104.973 Northtrop Grumman NOC 5/7/18 1,500 475,800 450,735 447,735 -28,065 OIH Oil Services ETF 0114 5/17/08 17,000 504.839 441.830 420.070 -84,769 Raytheon RTN 2/7/18 2,400 498,840 475.920 478,560 -20,280 Raytheon RTN 3/20/18 3,600 763.284 713,880 717,840 -45,444 Raytheon RTN 57/18 2,400 491,880 475,920 478,580 -13,320 KBW Regional Bank ETF KRE 326/18 20,000 1,210847 1.230,200 1,263,000 52,153 XLF Financial Sector XLF 11/16/17 10,000 262.800 279.500 283.300 20.500 XLF Financial Sector XLF 3/26/18 22,000 603.789 614.900 623.260 19 471 Total Southern Trust Co. - Equities (Interactive Brokers, 1 2,003,287 13,770,507 11,19 6,080 -807,207 Gratitude America, LTD - Equities (Mo _ an Stanle Sequential Brands SOBG 9/23/16 50,000 108,500 0 General Electric GE 10/23/17 22,000 491,068 299,860 284,680 -206,388 Work] Acceptance Group VVRLD 10,000 1.111.107 - 1,186.100 74,993 Stars Group TSG 7/19/18 5,000 171,500 - 0 Total Gratitude America, LTD - Equities (Morgan Stanley) 1,602,175 579,860 1,470,780 -131,395 Haze Trust - Equities (DB) Bombardier Inc Class B proem 6/21/18 25,000 97,249 94.100 82.643 -14.606 Carvana CVNA 6/21/18 25.000 1,086,102 1,075,000 1,618,500 532,398 Google GOOG 2/2/18 2,000 2,222,173 2,434,520 2,436.380 214,207 Google GOOG 12/5/17 1,000 1,014,015 1,217,260 1,218,190 204.175 United Techncbgies Urn 6/21/18 15,000 1,882.944 2,036.100 1.975,500 92.556 Haze Trust- TotalEquities (DB) 6,302,483 6,856,980 7,331,213 1,028,730 EFTA00811871 J Epstein W Foundation - Equities (DB) Bristol Myers Squibb BMY 10/30/15 3,400 227,604 199,750 205,870 -21,734 Disney DIS 10/30/15 685 78.100 77.789 76.734 -1.366 Total J Epstein VIFoundation - Equities (DB) 305,704 277,539 282,604 -23,100 TOTAL EQUITIES 115,552,143 131,074,082 141,426,424 25,874,280 Southern Financial LLC - Equity ETF's (DB) Ishares South Korea ETF 11/3/17 13.000 985.997 874380 875.160 -110)337 Total Southern FinancialLW - Equity ETFS (DB) 985,997 874,380 875,160 -110,837 Southern Financial LLC - Options (DB) US curve cap between 2yr and 10yr swap exp 5.22.2020 5/22/18 ONILLO) •••• aal 103500 85,435 88.528 -16,972 US curve cap between 2yr and wap exp 6-1-2020 6/1/18 asato.....s 96,7N sto25. -14.725 Total Southern Financial11C Options (DB) 200,250 f 41 6 ,a 166,553 .31,697 Southern Trust Co. - Options (IB) Long OM 30 Calls CO 0.88 Exp 8/17/18 5/31118 370 63 0 0 Short O1H 25 Puts a 0.12 Exp 8/17/18 5/31118 (370) -7,289 0 0 Short OtH 26 Puts a? 0.64 Exp 8/17/18 6/7/18 (500) -28,485 0 0 Long DIN 29 Calls til 0.73 al? 8117/18 6/7/18 500 550 0 0 Long NXPI 110 Cats a 7.50 Exp 1/18/2019 5/7/18 100 26,600 0 0 Short NXPI 125 Cats a 2.30 Exp 1/18/2019 5/7118 (100) -7,508 0 0 Short NXPI 85 Puts (...a 5.50 Ex 1/182019 517118 100) -29.663 0 0 Total Southern Trust Co. - Options (IB) - (43,732) - TOTAL OPTIONS 200,250 122,392 168,553 (31,697) EFTA00811872  7131/18 8/31/18 MTD YTD Asset Description Value Value Return Return Notes Hedge Funds - Southern Financia (SFLLC) 0ana 50mm - a 4Ornm Boothbay Multi-Strategy Fund 46,659,587 46,841,952 0.39% 7.37% withdrew lfnan 1/1017 Boothbay Enhanced Fund 7 835 726 7 879 421 0.56% 5.06% Enti Fie 12018:fart Total Hedge Funds - SF LLC 54,495,313 54,721,373 2016 /Num ITT% 2017 mom 156% Hedge Funds - Haze 2011Iretorn of mitt 7017 nalI/0 of moll* W417 ladeenotions o4 King Street - Illiquid Special Investment 3 102 745 3 102 745 ws3riots 57.303 415 230.7103 4/27116 5467.954 paid Hedge Funds -Haze 3,102,745 3,102,745 0142015 12,077 815 113,584 7127/16416;924 pain 4/3/2018 37.263 413 2.738 10/27/16 6.118.641 pint 416/2018 37093 10/12 18.370 1/77/17 3534,644 paid 617720113 67,976 11/9 4.060 2016 Mum 068% 7116/2015 435 Hedge Funds - STC Initial Inv 20min 5131/16 Honeycomb 42.010.839 42.519,314 1.21% 11.69% added 15rrm 6/27/16 Total Hedge Funds-STC 42,010,839 42,519,314 2016 int 244% (6 504 Total Hedge Funds 99,608,897 100,343,432 2017 return 21.0% SFL Mort Southern Grat FT Asset Description Inc. JEE Trust IGO LLC Real Estate , Investments SFL Kyara II (investment amount) marked to $0 in Sep 2018 250,000 Kyara IV (investment amount) 250,000 Neoteny 3 (investment amount les 30k distribution 4/20/18) 970,000 Prylanee LLC (art partnership) 1,000,000 Jawbone Investment (prat) 1,000,000 AYH Marina (value per jee) 3.000,000 STC Seaford Avenue Capital - PB Investment - Auto Debt (total comrn 2.6mm) 916,687 Adfin Solutions (investment amoun ) 875,000 butterflytrust Park Partners LLC - 320 East 82nd Street (investment amount) 3.480,000 Paid Contract to Purchase 2 Kean Court Livingston. NJ 3,000,000 Coinbase via Grat (50% sold for $15mm Feb 2018) sit 1,500,500 Reporty via Ergo Ltd (investment amount) 1,000,000 Velar Global Fund II (amount funded vs 15mm comrnittment) 14,250,000 comulativ6 IRR !lira 12-31.2016 2220% [value as of 6-30-2018 21.000,470 cumulafavo IRA Dm 12414017 1232% Velar Global Fund III (amount funded vs 25mm committment) 21,000,000 cumulative IRR Um 1 414016 6t$% value as of 6-30 2018 33,345,270 cumulative IRA Ihru 12414017 WA% Totals 1,000,000 3,000,000 40,511,687 1,500,500 6,480,000 Total Investments 52,492,187 , EFTA00811873  Hyperion JEGE JEGE Asset Description Air LLC LLC Inc Various Totals Aviation, Automobiles & Boats 2001 Bell 430 N331JE 2,500,000 2,500,000 1988 Gulfstream G-IV N212JE 2,900,000 2,900,000 1968 Boeing 727 N908JE 0 plan D LLC 0 2008 G550 15150,000 15,750.000 Automobiles 875,000 875.000 Boats 500,000 500,000 Total Aviation, Automobile & Boats 2,500,000 2,900,000 0 17,125,000 22,525,000 Asset Description JEE SFL JEGE Inc. FIRE Totals Loans Receivable (tccs sham iON yet lee :Ss 1SCK) 150,000 150,000 Mark Lloyd 100,000 100,000 Nick Ribis 150,000 150,000 Johnny O'Sullivan 22,446 22,446 David Mitchell 243,700 1,160,000 1,403,700 Osboume Lane Capital (Paul B) 1.000,000 1,000,000 20,000 303,262 323,262 Harlequin Dane, LLC 6,750,000 6,750,000 Coatue Enterprises LLC 2,500,000 2,500,000 Bella Klein 100,000 100.000 Lesley 300,000 300.000 David Rodgers 50,000 50,000 Louella Home 133,000 133,000 Darren Indyke 475,000 475,000 Richard Kahn 475,000 475,000 LV Home & Other 1,457,000 1,457,000 650,064 650,064 Total Loans Receivable 2,793,210 9,700,000 950,000 2,596,262 16,039,472 Enhanced Asset Description Education JEE JEE Various Totals Fine Arts, Antiques & Jewelry_ Cello 175,000 175.000 Pagano Diamonds 500.000 500,000 3273 Carrot Emerald Cut Diamond - Insuranos yaw 5,400,000 5,400,000 Watches, Earring & Other 775,000 775,000 Fine Arts Schedule 3,050,000 3,050,000 Total Fine Arts, Antiques & Jewelry 175,000 5,900,000 775,000 3,050,000 9,900,000 Loan Payable to BJAV LW (PLAN D LW) (30,500,000) (30,500,000) II EFTA00811874