EFTA01546770.pdf

SOUTHERN FINANCIAL, LLC 6100 RED HOOK QUARTER B3 ST THOMAS 00802 VIRGIN ISLANDS (U.S.) EFTA01546770 EFTA01546771 For the Period 7/1/13 to 7/31/13 Account Summary Account Number Investment Account(s) SOUTHERN FINANCIAL, LLC SOUTHERN FINANCIAL LLC SOUTHERN FINANCIAL, LLC SOUTHERN FINANCIAL, LLC 1 2 Total Value Beginning Net Market Value 69,666,847.06 0.00 23,070,855.53 33.49 $92,737,736.08 Ending Net Market Value 71,112,935.51 0.00 23,968,372.41 33.49 $95,081,341.41 This account summary is provided for informational purposes and includes assets at different entities. (1) Assets held at JPMorgan Chase Bank, N.A., member Federal Deposit Insurance Corporation ("FDIC"), except for exchangelisted options, which are held at 3PMorgan Clearing Corporation ("JPMCC"). The Asset Account Statement reflects brokerage transactions executed through J.P. Morgan Securities LLC ("JPMS"), see "Portfolio Activity Detail". Equity securities, fixed income securities, and listed options transactions are generally cleared through JPMCC, a wholly owned subsidiary of 3PMS. Please see "Additional Information About Your Accounts" at the end of the Asset Account Statement. (2) Assets held in Margin Account at JPMCC, member Financial Regulatory Authority ("FINRA") and Securities Insurance Protection Corporation ("SIPC"). The Margin Account Statement reflects brokerage transactions executed by JPMS, see "Portfolio Activity Detail". Such transactions are cleared and carried through JPMCC. Please see disclosures located at the end of this statement package for important information relating to each 3.P.Morgan account(s). Change EFTA01546772 In Value 1,446,088.45 0.00 897,516.88 0.00 $2,343,605.33 Start on Page 4 37 38 48 Client News The following information supersedes that which you received as part of your June statement insert, "J.P. Morgan Securities LLC, Important information and disclosures." SEC Regulation NMS Rule 607 - Payment for Order Flow JPMS LLC may pay from time to time for certain order flow in the form of discounts, rebates, reductions of fees or credits. As a result of sending orders to certain trading centers, JPMS LLC receives payment for order flow in the form of discounts, rebates, reductions of fees or credits. Under some circumstances, the amount of such remuneration may exceed the amount that JPMS LLC is charged by such trading centers. This does not alter JPMS LLC's policy to route customer orders to the trading center where it believes clients will receive the best execution, taking into account price, reliability, market depth, quality of service, speed and efficiency. 0000010010.15.0.15.00001.SOUTHAH.20130802 Consolidated Statement Page 1 EFTA01546773 THIS PAGE INTENTIONALLY LEFT BLANK EFTA01546774 For the Period 7/1/13 to 7/31/13 Consolidated Summary INVESTMENT ACCOUNTS Asset Allocation Equity Alternative Assets Cash & Fixed Income Market Value Accruals Market Value with Accruals Beginning Market Value 37,064,522.54 4,401.97 55,047,132.25 $92,116,056.76 621,679.32 $92,737,736.08 Ending Market Value 41,956,289.07 1,987,600.00 50,227,442.79 $94,171,331.86 910,009.55 $95,081,341.41 Change In Value 4,891,766.53 1,983,198.03 (4,819,689.46) $2,055,275.10 288,330.23 $2,343,605.33 Equity Current Portfolio Activity Beginning Market Value Net Contributions/Withdrawals Income & Distributions Change in Investment Value Ending Market Value Accruals Market Value with Accruals Period Value 92,116,056.76 12,193.36 80,889.62 1,962,192.12 $94,171,331.86 910,009.55 EFTA01546775 $95,081,341.41 Year-to-Date Value 0.00 90,292,978.99 610,622.34 3,267,730.53 $94,171,331.86 910,009.55 $95,081,341.41 Estimated 2,195,710.08 Current Annual Income Allocation 45% 2% 2,008,883.99 $4,204,594.07 53% 100% Alternative Assets Cash & Fixed Income Asset Allocation This Consolidated Summary shows all of your investments at J.P. Morgan other than investments we hold in trust for you. These investments may be held in custody or investment management account at JPMorgan Chase Bank, N.A. (the "Bank") or in a brokerage or margin account at J.P. Morgan Clearing Corp. ("JPMCC"). Brokerage and margin accounts are non-discretionary and all investment decisions are made by the client. J.P. Morgan Securities LLC ("JPMS") does not provide advice on asset allocation or investment management services, nor do its personnel take discretion over any client accounts. Such advice and services are provided exclusively by the Bank. Consolidated Statement Page 2 EFTA01546776 For the Period 7/1/13 to 7/31/13 Consolidated Summary INVESTMENT ACCOUNT(S) YEAR-TO-DATE Portfolio Activity SOUTHERN FINANCIAL, LLC SOUTHERN FINANCIAL, LLC SOUTHERN FINANCIAL, LLC Total Value Account Number • Beginning Market Value 0.00 0.00 0.00 $0.00 Income Summary SOUTHERN FINANCIAL, LLC SOUTHERN FINANCIAL, LLC Total Value Account Number Net Contributions/ Withdrawals 68,068,729.31 22,224,216.19 33.49 $90,292,978.99 Income 440,454.94 20,167.91 $460,622.85 'Unrealized Gain/Loss represents data from the time of account inception to the current statement period. Income Other Income & Receipts 149,999.49 $149,999.49 Income & Distributions 440,454.94 170,167.40 $610,622.34 Change in Investment Value EFTA01546777 1,693,864.96 1,573,865.57 $3,267,730.53 Realized Gain/Loss Short-term 315,130.38 1,902.00 $317,032.38 $148,500.00 Long-term 148,500.00 Ending Market Value with Accruals 71,112,935.51 23,968,372.41 33.49 $95,081,341.41 Unrealized Gain/Loss, 2,414,834.88 2,031,571.98 $4,446,406.86 CONTINUED Consolidated Statement Page 3 EFTA01546778 JPMorgan Chase Bank, N.A. 270 Park Avenue, New York, NY 10017-2014 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Asset Account J.P. Morgan Team Justin Nelson Paul Barrett Janet Young Gina Magliocco Jason Grosse Online access Banker Investment Specialist Client Service Team Client Service Team Client Service Team www.jpmorganonline.com Please see disclosures located at the end of this statement package for important information relating to each J.P.Morgan account(s). 203/629-3124 212/622-2770 800/634-1318 Table of Contents Account Summary Holdings Equity Alternative Assets Cash & Fixed Income Portfolio Activity Page 2 4 10 12 21 Account Page 1 of 33 Consolidated Statement Page 4 EFTA01546779 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Account Summary Asset Allocation Equity Alternative Assets Cash & Fixed Income Market Value Accruals Market Value with Accruals Beginning Market Value 28,255,148.39 4,401.97 40,786,097.54 $69,045,647.90 621,199.16 $69,666,847.06 Ending Market Value 32,270,100.98 1,987,600.00 35,945,348.23 $70,203,049.21 909,886.30 $71,112,935.51 Current Portfolio Activity Beginning Market Value Contributions Withdrawals & Fees Securities Transferred In Securities Transferred Out Net Contributions/Withdrawals Income & Distributions Change In Investment Value Ending Market Value Accruals Market Value with Accruals $0.00 72,023.13 1,085,378.18 $70,203,049.21 909,886.30 $71,112,935.51 Period Value 69,045,647.90 Change In Value 4,014,952.59 1,983,198.03 EFTA01546780 (4,840,749.31) $1,157,401.31 288,687.14 $1,446,088.45 Year-to-Date Value 0.00 15,362,706.02 (430,430.11) 53,240,793.69 (104,340.29) $68,068,729.31 440,454.94 1,693,864.96 $70,203,049.21 909,886.30 $71,112,935.51 Equity Estimated 1,565,870.70 Current Annual Income Allocation 45% 3% 2,007,475.69 $3,573,346.39 52% 100% Alternative Assets Cash & Fixed Income Asset Allocation Account Page 2 of 33 Consolidated Statement Page 5 EFTA01546781 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Account Summary Income Summary Domestic Dividends/Distributions Foreign Dividends Currency Gain/Loss Interest Income Accrued Interest Current Year Income CONTINUED Current Period Value 5,120.00 18,590.03 49,120.86 (807.76) $72,023.13 Year-to-Date Value 464,532.50 54,375.00 (548,944.51) 592,435.08 (121,943.13) $440,454.94 Unrealized Gain/Loss ST Realized Gain/Loss LT Realized Gain/Loss Realized Gain/Loss Current Period Value 47,976.64 $47,976.64 Year-to-Date Value 315,130.38 148,500.00 $463,630.38 To-Date Value $2,414,834.88 Cost Summary Equity Cash & Fixed Income Total 34,811,452.47 Cost 30,728,543.76 $65,539,996.23 Account Page 3 of 33 Consolidated Statement Page 6 EFTA01546782 EFTA01546783 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Equity Summary Asset Categories US Large Cap Equity US Small/Mid Cap Equity Non-US Equity European Large Cap Equity Emerging Market Equity Preferred Stocks Concentrated & Other Equity Total Value Market Value/Cost Market Value Cost Unrealized Gain/Loss Estimated Annual Income Accrued Dividends Yield Beginning Market Value 1,708,811.15 836,500.00 2,875,200.00 1,905,600.00 876,732.66 5,357,876.00 14,694,428.58 $28,255,148.39 Ending Market Value 4,011,215.61 909,500.00 3,851,991.91 1,992,600.00 878,712.86 5,599,378.28 15,026,702.32 $32,270,100.98 Current Period Value 32,270,100.98 30,728,543.76 1,373,414.90 1,565,870.70 222,238.25 4.83% Equity as a percentage of your portfolio - 45 % Change In Value 2,302,404.46 EFTA01546784 73,000.00 976,791.91 87,000.00 1,980.20 241,502.28 332,273.74 $4,014,952 59 Current Allocation 6% 1% 5% 3% 1% 8% 21% 45% European Large Cap Equity US Small/Mid Cap Equity Emerging Market Equity Non-US Equity Concentrated & Other Equity Asset Categories US Large Cap Equity Preferred Stocks Account Page 4 of 33 Consolidated Statement Page 7 EFTA01546785 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Note: P ** indicates position adjusted for Pending Trade Activity. Unrealized Gain/Loss is shown as "N/A" in cases where we do not have appropriate cost information for all tax lots comprising the position. Please contact your J.P. Morgan team for additional information. Equity Detail Price US Large Cap Equity ARIAD PHARMACEUTICALS INC BIOGEN IDEC INC FACEBOOK INC-A GENERAL ELECTRIC CO 04033A-10-0 ARIA 218.13 09062X-10-3 BIIB 36.80 30303M-10-2 FB 24.37 369604-10-3 GE JPM VALUE ADVANTAGE FD - INSTL FUND 1400 4812A2-58-7 JVAI X Total US Large Cap Equity $4,011,215.61 $3,702,561.43 $308,654.18 $37,472.12 0.93% 25.95 78,709.170 2,042,502.96 2,000,000.00 42,502.96 19,992.12 0.98% 23,000.000 560,510.00 496,109.08 64,400.92 17,480.00 3.12% 17,500.000 644,000.00 665,000.00 (21,000.00) 2,095.000 EFTA01546786 456,982.35 250,454.95 206,527.40 18.58 16,535.000 307,220.30 290,997.40 16,222.90 Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. Accrued Div. Yield US Small/Mid Cap Equity DEUTSCHE BK AG LDN BRH 8.44 DBL LONG ETN38 25154H-55-8 DAG P JONES ENERGY INC - A 48019R-10-8 JONE 14.06 0.00 Account Page 5 of 33 Consolidated Statement Page 8 50,000.000 422,000.00 352,529.00 69,471.00 EFTA01546787 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Price US Small/Mid Cap Equity SANGAMO BIOSCIENCES INC Total US Small/Mid Cap Equity 800677-10-6 SGMO $909,500.00 $774,743.00 $134,757.00 $0.00 0.00% 9.75 50,000.000 487,500.00 422,214.00 65,286.00 Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. Accrued Div. Yield P P P P P P P Non-US Equity ACCOR SA 37.66 ISIN FR0000120404 SEDOL 5852842 F00189-90-6 UR AUTOGRILL SA ISIN IT000113734 SEDOL 5256206 T8347V-91-5 UR BNP PARIBAS ISIN FR0000131104 SEDOL 7309681 F07875-90-3 UR CARREFOUR SUPERMARCHE ISIN FR0000120172 SEDOL 5641567 F13923-90-3 UR COMPAGNIE DE SAINT-GOBAIN ISIN FR0000125007 SEDOL 7380482 F80343-95-1 UR 3C DECAUX INTERNATIONAL EFTA01546788 ISIN FR0000077919 SEDOL 7136663 F5333N-91-0 UR RENAULT SA ISIN FR0000131906/SEDOL 4712798 759994-90-8 UR Account Page 6 of 33 Consolidated Statement Page 9 78.57 2,000.000 157,137.77 157,763.32 (625.55) 32.03 5,000.000 160,138.71 160,785.93 (647.22) 46.28 3,500.000 161,964.50 162,307.25 (342.75) 30.63 5,500.000 168,484.24 170,089.99 (1,605.75) 64.58 2,500.000 161,449.96 161,893.57 (443.61) 15.24 10,900.000 166,156.52 166,999.72 (843.20) 4,500.000 169,460.21 170,037.29 (577.08) EFTA01546789 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Price Non-US Equity ROYAL BANK SCOTLAND GROUP PLC ADR NON-CUMULATIVE 780097-71-3 RBS PT NA /P-2 Total Non-US Equity $3,851,991.91 $4,074,277.07 ($222,285.16) $217,560.00 5.65% 22.56 120,000.000 2,707,200.00 2,924,400.00 (217,200.00) 217,560.00 8.04% Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. Accrued Div. Yield European Large Cap Equity HSBC CONT BUFF EQ SX5E 08/29/14 99.63 80% EKO BARRIER- 4%CPN 17% CAP INITIAL LEVEL-05/24/13 SX5E:2764.29 40432X-FP-1 Emerging Market Equity P GRANA Y MONTERO SA - ADR 3PM LATIN AMERICA FD - SEL 38500P-20-8 GRAM 17.75 FUND 3815 4812A3-47-8 JLTS X Total Emerging Market Equity $878,712.86 $1,000,000.00 ($121,287.14) $841.58 0.10% 49,504.950 EFTA01546790 878,712.86 1,000,000.00 (121,287.14) 841.58 0.10% 20.90 0.00 2,000,000.000 1,992,600.00 2,000,000.00 (7,400.00) Account Page 7 of 33 Consolidated Statement Page 10 EFTA01546791 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Price Preferred Stocks ALLY FINANCIAL INC 8 1/2% PFD 02005N-30-8 ALLYPB NA /CAA GMAC CAPITAL TRUST I PFD STK 8 1/8% 361860-20-8 ALLYPA P VOLKSWAGEN AG PFD ISIN DE0007664039 SEDOL 5497168 928662-92-3 UR Total Preferred Stocks $5,599,378.28 $4,832,034.69 $767,343.59 $430,872.00 $67,256.25 Concentrated & Other Equity BANK OF AMERICA CORP 8 1/8% PFD STK DEC 29 2049 DTD 04/30/2008 060505-DT-8 BB+ /B1 CLIFFS NATURAL RESOURCES CV PFD 7% 18683K-40-8 CLV GENERAL ELEC CAP CORP 7.125% DEC 15 2049 DTD 06/12/2012 369622-SN-6 AA- /BAA GENERAL MOTORS CO CV PFD B 37045V-20-9 GM PB 49.94 71,000.000 3,545,740.00 3,585,969.22 (40,229.22) 168,625.00 4.76% 112.81 2,000,000.000 2,256,120.00 2,122,916.67 133,203.33 142,500.00 18,208.00 6.23% 18.90 6,000.000 EFTA01546792 113,400.00 150,000.00 (36,600.00) 10,500.00 2,625.00 9.26% 7.70% 237.22 700.000 166,054.28 167,018.58 (964.30) 26.55 80,000.000 2,124,000.00 1,882,773.60 241,226.40 Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. Accrued Div. Yield 26.14 126,600.000 3,309,324.00 2,782,242.51 527,081.49 268,392.00 67,256.25 162,480.00 8.11% 7.65% 112.78 2,000,000.000 2,255,500.00 2,081,180.56 174,319.44 162,500.00 34,304.00 7.14% Account Page 8 of 33 Consolidated Statement Page 11 EFTA01546793 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Price Concentrated & Other Equity JPMORGAN CHASE & CO 7.9% PFD STK APR 30 2049 DTD 04/23/2008 46625H-HA-1 BBB /BA1 LONG TOTAL RETURN SWAP 1,999,999.368942 USD NOTIONAL KOSPTREQ INDEX MAT MAR 20 2014 DEAL 30140386 N/O Client SWPBDR-UH-6 MS MARKET PLUS MRK 08/20/14 80% EKO BARRIER- 3.55%CPN ,UNCAPPED INITIAL LEVEL-02/14/13 MRK:41.19 61761J -DA-4 Total Concentrated & Other Equity $15,026,702.32 $14,344,927.57 $513,632.43 $879,125.00 $154,982.00 5.81% 113.42 1,000,000.000 1,134,150.00 1,000,000.00 134,150.00 1.00 888,972.000 168,142.32 N/A ** N/A Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. Accrued Div. Yield 111.07 5,000,000.000 5,553,650.00 5,404,861.12 148,788.88 395,000.00 EFTA01546794 99,845.00 7.05% Account Page 9 of 33 Consolidated Statement Page 12 EFTA01546795 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Alternative Assets Summary Beginning Asset Categories Hard Assets Note: Estimated Value 4,401.97 P indicates position adjusted for Pending Trade Activity. Alternative Assets Detail Quantity/Original Commitment Amount Real Estate & Infrastructure P COUSINS PROPERTIES INC 222795-10-6 CUZ Amounts shown above under "Estimated Value" for private equity funds are estimates based on the latest fund values received from each underlying fund, which value may be as of a date (underlying fund value date) prior to the period covered by this statement. The values provided by the underlying fund have been adjusted for any cash flows between your account and such fund that have occurred subsequent to the underlying fund value date to derive the "Estimated Value". Therefore, such "Estimated Value" may not reflect the value of your interest shown on any fund's actual books and records as of the date of this statement. For additional information, please contact your J.P. Morgan representative. For private equity funds, Estimated Values are based on estimates provided by the underlying funds that are generally presented on a US GAAP basis, which records investments at fair value, or "marked-to-market". Most of these underlying funds also present their audited financial statements on a US GAAP basis (i.e., "marked-to- market"). However, some of these underlying funds present their audited financial statements using the Income Tax Basis of Accounting, which records investments "at cost" based on the accrual basis of accounting for Federal income taxes. Where the underlying fund provides periodic estimates on a "marked-to-market" basis but reflects investments "at cost" in its audited financial statements, the marked-to-market Estimated Value shown herein for a private equity fund may be materially different from the value reflected on such fund's audited financial statements (which are also based on the audited financial statements of the underlying fund). Cost/Net Capital Called Since Inception Net Distributions Since Inception Estimated Value Est. Annual Inc. EFTA01546796 Accrued Div. Yield Ending Estimated Value 1,987,600.00 Change In Value 1,983,198.03 Current Allocation 3% 0.80 1.76% Account Page 10 of 33 Consolidated Statement Page 13 EFTA01546797 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Price Hard Assets SG MARKET PLUS WTI CRUDE 08/05/14 LNKD TO CL1 78.75% BARRIER- 10%CPN ,UNCAPPED INITIAL LEVEL-07/25/13 CL1:105.68 78423E-HS-6 99.38 2,000,000.000 1,987,600.00 2,000,000.00 Quantity Estimated Value Cost Account Page 11 of 33 Consolidated Statement Page 14 EFTA01546798 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Cash & Fixed Income Summary Beginning Asset Categories Cash Non-USD Cash US Fixed Income Non-US Fixed Income Complementary Structured Strategies Foreign Exchange Contracts Total Value Market Value/Cost Market Value Cost Unrealized Gain/Loss Estimated Annual Income Accrued Interest Yield Market Value 10,053,797.14 1,088,478.72 22,597,857.06 2,898,781.00 3,986,490.79 160,692.83 $40,786,097.54 Ending Market Value 4,452,801.94 (204,969.06) 24,368,521.90 3,089,156.20 4,159,761.47 80,075.78 $35,945,348.23 Current Period Value 35,945,348.23 34,811,452.47 1,053,819.98 2,007,475.69 687,648.05 6.01% Complementary Structured Strategies Change In Value (5,600,995.20) (1,293,447.78) 1,770,664.84 EFTA01546799 190,375.20 173,270.68 (80,617.05) ($4,840,749.31 ) Current Allocation 6% 35% 4% 6% 1% 52% Cash Asset Categories Non-US Fixed Income Foreign Exchange Contracts US Fixed Income Cash & Fixed Income as a percentage of your portfolio 52 % Account Page 12 of 33 Consolidated Statement Page 15 EFTA01546800 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 SUMMARY BY MATURITY 1 Cash & Fixed Income 0-6 months 1-5 years' 5-10 years' 10+ years' Total Value 1 SUMMARY BY TYPE Market Value 6,814,144.35 3,904,450.00 8,669,260.00 16,477,418.10 $35,865,272.45 % of Bond Portfolio 18% 10% 23% 49% 100% The years indicate the number of years until the bond is scheduled to mature based on the statement end date. Some bonds may be called, or paid in full, before their stated maturity. Cash & Fixed Income Cash NON USD Cash Corporate Bonds International Bonds Mortgage and Asset Backed Bonds Complementary Structure Total Value Market Value 4,452,801.94 (204,969.06) 11,881,510.00 8,258,366.20 7,317,801.90 4,159,761.47 $35,865,272.45 % of Bond Portfolio 12% 35% 22% EFTA01546801 20% 11% 100% Account Page 13 of 33 Consolidated Statement Page 16 EFTA01546802 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Cash & Fixed Income Summary NET FX CONTRACTS EXPOSURE SUMMARY Value in Currency CANADIAN DOLLAR SWISS FRANC EURO CURRENCY JAPANESE YEN (5,000,000.00) 0.01 (95,681.36) 498,300,000.00 Note: P indicates position adjusted for Pending Trade Activity. Cash & Fixed Income Detail Price Cash US DOLLAR COST OF PENDING PURCHASES PROCEEDS FROM PENDING SALES Total Cash 1.00 1.00 1.00 4,347,187.84 (247,910.00) 353,524.10 4,347,187.84 (247,910.00) 353,524.10 $4,452,801.94 4,347,187.84 (247,910.00) 353,524.10 $4,452,801.94 $0.00 $434.71 $65.73 0.01% 434.71 65.73 0.01% 1 Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss EFTA01546803 Est. Annual Income Accrued Interest Yield This is the Annual Percentage Yield (APY) which is the rate earned if balances remain on deposit for a full year with compounding, there is no change in the interest rate and all interest is left in the account. Account Page 14 of 33 Consolidated Statement Page 17 EFTA01546804 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Price Non-USD Cash CANADIAN DOLLAR P EURO PRINCIPAL CURRENCY Total Non-USD Cash Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield 0.97 1.33 0.01 0.01 (154,361.73) (204,969.07) ($204,969.06) 0.01 (204,969.23) ($204,969.22) 0.16 $0.16 $0.00 0.00% US Fixed Income HEADWATERS INC 106.00 7.625 04/01/2019 DTD 03/11/2011 42210P-AQ-5 B+ /B2 EARTHLINK INC 8 7/8% MAY 15 2019 DTD 05/17/2011 270321-AC-6 CCC /B3 KINDRED HEALTHCARE INC 8 1/4% JUN 01 2019 DTD 06/01/2011 494580-AB-9 NR /B3 SERVICEMASTER COMPANY 8% FEB 15 2020 DTD 02/13/2012 81760N -AN-9 B- /CAA LLOYDS TSB BANK PLC MTN 9 7/8% DEC 16 2021 DTD 12/16/2011 EFTA01546805 HELD BY EUROCLEAR ISIN XS0717735822 SEDOL B7FQXT1 G4715J-9D-3 BBB /BA1 117.50 1,500,000.00 1,762,485.00 1,627,500.00 134,985.00 148,125.00 92,577.00 7.03% 97.75 2,500,000.00 2,443,750.00 2,665,625.00 (221,875.00) 200,000.00 92,220.00 8.45% 105.25 2,000,000.00 2,105,000.00 1,966,250.00 138,750.00 165,000.00 27,500.00 7.13% 98.91 1,000,000.00 989,130.00 1,033,500.00 (44,370.00) 1,000,000.00 1,060,000.00 1,035,000.00 25,000.00 76,250.00 25,416.00 88,750.00 18,736.00 6.35% 9.12% Account Page 15 of 33 Consolidated Statement Page 18 EFTA01546806 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Price US Fixed Income BARCLAYS BANK PLC 7.750% 04/10/2023 DTD 04/10/2013 06739F-HK-0 BB+ /NR HOMEBANC MORTGAGE TRUST 2004-1 CL 1M1 VAR RT 08/25/2029 DTD 07/30/2004 43739E-AC-1 CCC /CA SEQUOIA MORTGAGE TRUST 11 CL B1 VAR RT 12/20/2032 DTD 10/30/2002 81744A-AB-4 CCC /CAA COUNTRYWIDE HOME LOANS 2003-1 CL B1 5.750% 03/25/2033 DTD 01/01/2003 12669D-YS-1 STRUCTURED ASSET SECURITIES CO 2003-10 CL B2 6.000% 04/25/2033 DTD 03/28/2003 86359A-QW-6 CCC / COUNTRYWIDE HOME LOANS 2003-26 CL B1 5.33684% 08/25/2033 DTD 06/01/2003 12669E-RR-9 IMPAC CMB TRUST 2005-2 CL 1M2 VAR RT 04/25/2035 DTD 03/03/2005 45254N-NC-7 CC /CA CHASE MORTGAGE FINANCE CORPORATION REMIC 2007-A1 CL 2A4 2.99199% 02/25/2037 DTD 02/01/2007 161630-AK-4 CCC /CA Account Page 16 of 33 Consolidated Statement Page 19 95.07 1,937,113.84 1,841,536.64 1,714,345.75 127,190.89 57,958.25 4,829.22 3.21% 60.40 71.86 1,377,374.58 1,552,704.83 831,892.92 1,115,835.80 1,060,578.42 EFTA01546807 1,083,011.62 (228,685.50) 32,824.18 7,352.81 611.55 14,409.10 43.47 6.48% 7.14% 94.12 961,788.93 905,197.27 961,788.93 (56,591.66) 57,707.33 4,808.94 7.63% 94.52 1,334,646.92 1,261,561.65 1,274,587.81 (13,026.16) 76,742.19 6,394.29 6.01% 74.98 1,032,091.29 773,862.05 761,167.33 12,694.72 17,062.53 93.92 5.57% 60.50 971,761.27 587,915.57 546,615.72 41,299.85 Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield 102.97 300,000.00 308,895.00 300,000.00 EFTA01546808 8,895.00 23,250.00 7,168.50 10,725.32 17.49 7.32% 4.19% EFTA01546809 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Price US Fixed Income JPMORGAN CHASE & CO VAR RT 07/24/2013 DTD 07/29/2013 48126H-AA-8 NR /NR LBG CAPITAL NO.1 PLC 144A VAR RT 12/29/2049 DTD 12/15/2009 HELD BY EUROCLEAR ISIN XS0473106283 SEDOL B51C139 50178R-9A-1 BB- /NA GENERAL ELEC CAP CORP 5.250% 12/31/2049 DTD 05/29/2013 369622-ST-3 AA- /BAA SOUTHERN CAL EDISON 6 1/4% DEC 31 2049 DTD 01/17/2012 842400-FU-2 BBB /BAA Total US Fixed Income 107.28 3,000,000.00 3,218,430.00 3,016,649.17 201,780.83 95.09 1,400,000.00 1,331,190.00 1,400,000.00 (68,810.00) 73,500.00 11,841.20 187,500.00 94,269.00 $24,368,521.90 $24,444,119.75 ($75,597.85) $1,489,332.53 $439,692.58 Non-US Fixed Income PETROLEOS DE VENEZUELA S 8 1/2% NOV 02 2017 DTD 10/29/2010 HELD BY EUROCLEAR ISIN USP7807HAK16 SEDOL BSSCOL3 716550-9A-8 B /NA 5.57% 5.77% 103.26 3,000,000.00 3,097,830.00 EFTA01546810 3,247,500.00 (149,670.00) Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield 97.87 750,000.00 734,010.00 750,000.00 (15,990.00) 45,000.00 22,500.00 240,000.00 30,666.00 6.15% 7.73% 6.61% 92.44 2,500,000.00 2,311,000.00 2,262,750.00 48,250.00 212,500.00 52,532.50 10.75% Account Page 17 of 33 Consolidated Statement Page 20 EFTA01546811 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Price Non-US Fixed Income REPUBLIC OF ARGENTINA -ARS NOTES DEC 15 2035 DTD 11/01/2005 HELD BY EUROCLEAR ISIN ARARGEO3E147 SEDOL BOS5SP7 042993-9R-8 RS REPUBLIC OF ARGENTINA NOTES DEC 15 2035 DTD 11/01/2005 HELD BY EUROCLEAR ISIN US040114GM64 SEDOL B2PDMW3 042993-9S-6 Total Non-US Fixed Income $3,089,156.20 $3,619,500.00 ($530,343.80) $517,708.45 $244,015.24 Complementary Structured Strategies JPY CALL CAD PUT FX EUROPEAN STYLE OPTION OCT 08, 2013 @ 76.9 AT EXP KI @ 69.65 XJPYCA-TZ-Z AD JPY CALL USD PUT FX EUROPEAN STYLE OPTION SEP 10, 2013 @ 97.25 AT EXP KI @94.75 XJPYCA-UI-Z 0.01 (486,250,000.00 ) (47,357.48) (85,000.00) 37,642.52 17.84% 8.08 7,500,000.00 605,625.00 1,038,750.00 (433,125.00) 237,652.50 149,100.00 38.92% Quantity Value Adjusted Cost Original Cost EFTA01546812 Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield 1.73 10,000,000.00 172,531.20 318,000.00 (145,468.80) 67,555.95 42,382.74 38.80% (769,000,000.00 ) (37.80) (336,952.82) 336,915.02 Account Page 18 of 33 Consolidated Statement Page 21 EFTA01546813 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Price Complementary Structured Strategies JPY PUT CAD CALL FX EUROPEAN STYLE OPTION OCT 08, 2013 @ 80.9 XJPYPB-EX-Z AD JPY PUT USD CALL FX EUROPEAN STYLE OPTION SEP 10, 2013 @ 100. XJPYPB-FJ-Z JPY PUT USD CALL FX EUROPEAN STYLE OPTION SEP 10, 2013 @ 105. XJPYPB-FK-Z GS MXN STEP UP NOTE 11/22/13 LNKD TO MXN VS USD 85%BARRIER- 5% ATM CPN-22.9%MXRTRN 11/08/12, INITIAL STRIKE: 13.11925 38141G-HY-3 3PM 3YR NC CLN TO MTOR 04/16/15 INITIAL RATE 6.20% CPN DD 04/16/12 4662A0-4Q-1 Total Complementary Structured Strategies $4,159,761.47 $2,500,000.00 $1,659,761.47 $0.00 $3,874.50 0.00% 106.23 1,500,000.00 1,593,450.00 1,500,000.00 93,450.00 3,874.50 108.19 1,000,000.00 1,081,920.00 1,000,000.00 81,920.00 (500,000,000.00 ) (4,424.35) (36,500.00) 32,075.65 0.01 500,000,000.00 45,477.66 121,500.00 EFTA01546814 (76,022.34) Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield 0.18 809,000,000.00 1,490,733.44 336,952.82 1,153,780.62 Account Page 19 of 33 Consolidated Statement Page 22 EFTA01546815 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Market Value Receivable Trade Date Foreign Exchange Contracts CANADIAN DOLLAR CANADIAN DOLLAR SWISS FRANC SWISS FRANC JAPANESE YEN JAPANESE YEN EURO CURRENCY EURO CURRENCY Total Foreign Exchange Contracts Jun. 10 13 Aug. 28 13 May. 23 13 Aug. 28 13 May. 6 13 Aug. 8 13 May. 23 13 Aug. 8 13 CAD JPY CAD JPY CHF EUR CHF EUR 2,500,000.00 (242,025,000.00 ) (7,500,000.00) 740,325,000.00 6,138,000.00 (5,000,000.00) (6,137,999.99) 4,904,318.64 96.810000 98.710000 1.227600 1.251550 95.586170 95.586170 1.233722 1.233722 2,429,990.42 2,461,102.60 7,528,213.15 7,289,971.26 EFTA01546816 6,606,483.37 6,639,429.91 6,512,375.97 6,606,483.36 $23,077,062.91 $22,996,987.13 (31,112.18) 238,241.89 (32,946.54) (94,107.39) $80,075.78 Currency Settlement Date Counter Currency Amount Counter Amount Contract Rate Current Market Forward Rate Market Value Payable Unrealized Gain/Loss Account Page 20 of 33 Consolidated Statement Page 23 EFTA01546817 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Portfolio Activity Summary U S Dollar Beginning Cash Balance Current Transactions INFLOWS Income Contributions Foreign Exchange - Inflows Total Inflows OUTFLOWS ** Withdrawals Foreign Exchange - Outflows Total Outflows TRADE ACTIVITY Settled Sales/Maturities/Redemptions Settled Securities Purchased Total Trade Activity Ending Cash Balance 2,947,938.08 (8,495,330.70) ($5,547,392.62) $4,347,187.84 * Year to date information is calculated on a calendar year basis. ** Your account's standing instructions use a HIGH COST method for relieving assets from your position 28,746,296.05 (39,669,973.92) ($10,923,677.87) -$0.00 $53,433.10 Period Value 9,841,147.36 53,433.10 Year-To-Date Value* -964,951.34 14,227,338.26 6,117,215.66 $21,309,505.26 (430,430.11) (5,608,209.44) ($6,038,639.55) Current Cost Adjustments Cost Adjustments Total Cost Adjustments EFTA01546818 Period Value 16,666.67 $16,666.67 Year-To-Date Value* 6,036,596.14 $6,036,596.14 Current Securities Transferred In/Out Securities Transferred In Securities Transferred Out Period Value Year-To-Date Value* 52,196,971.85 (104,340.29) Account Page 21 of 33 Consolidated Statement Page 24 EFTA01546819 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Portfolio Activity Detail - U S Dollar INFLOWS & OUTFLOWS Type Settle Date Selection Method Income 7/1 7/15 7/15 Interest Income Div Domest Accrued Int Paid Description DEPOSIT SWEEP INTEREST FOR 06/01/13 - 06/30/13 @ .01% RATE ON AVG COLLECTED BALANCE OF $9,233,537.26 AS OF 07/01/13 THERMO FISHER SCIENTIFIC INC @ 0.15 PER SHARE (ID: 883556-10-2) IMPAC CMB TRUST 2005-2 CL 1M2 VAR RT 04/25/2035 DTD 03/03/2005 @ 69.75 JP MORGAN SECURITIES LLC (BIDL) TRADE DATE 07/10/13 FACE VALUE 10,000,000.00 (ID: 45254N-NC-7) 7/16 7/22 7/25 7/25 7/25 7/25 Corporate Interest Corporate Interest Corporate Interest Corporate Interest Corporate Interest Corporate Interest JPM 3YR NC CLN TO MTOR 04/16/15 INITIAL RATE 6.20% CPN DD 04/16/12 (ID: 4662A0-4Q-1) SEQUOIA MORTGAGE TRUST 11 CL 81 VAR RT 12/20/2032 DTD 10/30/2002 (ID: 81744A-AB-4) COUNTRYWIDE HOME LOANS 2003-1 CL 81 5.750% 03/25/2033 DTD 01/01/2003 (ID: 12669D-YS-1) COUNTRYWIDE HOME LOANS 2003-26 CL B1 5.33684% 08/25/2033 DTD 06/01/2003 (ID: 12669E-RR-9) CHASE MORTGAGE FINANCE CORPORATION REMIC 2007-A1 CL 2A4 2.99199% 02/25/2037 DTD 02/01/2007 (ID: 161630-AK-4) HOMEBANC MORTGAGE TRUST 2004-1 CL 1M1 VAR RT 08/25/2029 DTD 07/30/2004 (ID: 43739E-AC-1) 973,410.924 0.001 886.62 EFTA01546820 1,500,000.000 1,036,814.057 1,372,306.980 1,407,472.207 1,976,894.960 0.015 0.001 0.005 0.004 0.002 23,186.30 1,422.68 6,619.85 6,271.48 4,479.26 5,000.000 1,566,775.200 0.00 0.15 0.001 750.00 (807.76) Quantity Cost Per Unit Amount Amount 74.84 Account Page 22 of 33 Consolidated Statement Page 25 EFTA01546821 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Type Settle Date Selection Method Income 7/25 7/25 7/25 Corporate Interest Div Domest Corporate Interest Total Income TRADE ACTIVITY Note: Trade Date Settle Date 6/26 7/1 6/27 7/2 6/27 7/2 6/26 7/3 Description STRUCTURED ASSET SECURITIES CO 2003-10 CL B2 6.000% 04/25/2033 DTD 03/28/2003 (ID: 86359A-QW-6) GENERAL ELECTRIC CO @ 0.19 PER SHARE (ID: 369604-10-3) IMPAC CMB TRUST 2005-2 CL 1M2 VAR RT 04/25/2035 DTD 03/03/2005 (ID: 45254N-NC-7) 23,000.000 1,566,775.200 0.19 0.001 4,370.00 1,211.64 $53,433.10 Quantity Cost 993,637.820 Per Unit Amount 0.005 Amount 4,968.19 S indicates Short Term Realized Gain/Loss * Settled transaction was initiated in prior statement period and settled in current statement period Type EFTA01546822 Selection Method Description Settled Sales/Maturities/Redemptions Sale High Cost Sale High Cost Sale High Cost Sale High Cost LUXOFT HOLDING INC @ 18.55 9,275.00 BROKERAGE 20.00 TAX &/OR SEC .17 J.P. MORGAN SECURITIES LLC (ID: G57279-10-4) CDW CORP/DE @ 17.64 52,920.00 BROKERAGE 120.00 TAX &/OR SEC .93 J.P. MORGAN SECURITIES LLC (ID: 12514G-10-8) THERMO FISHER SCIENTIFIC INC @ 85.60 214,000.00 BROKERAGE 100.00 TAX &/OR SEC 3.73 J.P. MORGAN SECURITIES LLC (ID: 883556-10-2) NANOSTRING TECHNOLOGIES INC @ 9.500833 57,005.00 BROKERAGE 240.00 TAX &/OR SEC 1.00 J.P. MORGAN SECURITIES LLC (ID: 63009R-10-9) Account Page 23 of 33 Consolidated Statement Page 26 (6,000.000) 9.461 56,764.00 (60,000.00) (3,236.00) S* (2,500.000) 85.559 213,896.27 (213,750.00) 146.27 S* (3,000.000) 17.60 52,799.07 (51,000.00) 1,799.07 S* Quantity (500.000) Per Unit Amount 18.51 Proceeds 9,254.83 Cost (8,500.00) Realized Gain/Loss 754.83 S* EFTA01546823 EFTA01546824 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Trade Date Settle Date 6/27 7/3 7/9 7/12 7/9 7/15 7/10 7/15 7/15 7/15 7/15 7/15 7/12 7/17 7/16 7/19 7/16 7/19 Type Selection Method Description Settled Sales/Maturities/Redemptions Sale High Cost Sale High Cost Sale High Cost Sale High Cost Expired Option High Cost Expired Option High Cost Sale High Cost Sale High Cost Sale High Cost HD SUPPLY HOLDINGS INC @ 18.00 252,000.00 BROKERAGE 560.00 TAX &/OR SEC 4.39 J.P. MORGAN SECURITIES LLC (ID: 40416M-10-5) HOME PROPERTIES INC @ 63.50 63,500.00 BROKERAGE 40.00 TAX &/OR SEC 1.11 J.P. MORGAN SECURITIES LLC (ID: 437306-10-3) AMERIGAS PARTNERS L P UNIT LIMITED PARTNERSHIP INT @ 46.90 58,625.00 BROKERAGE 50.00 TAX &/OR EFTA01546825 SEC 1.03 J.P. MORGAN SECURITIES LLC (ID: 030975-10-6) AMERIGAS PARTNERS L P UNIT LIMITED PARTNERSHIP INT @ 46.90 117,250.00 BROKERAGE 100.00 TAX &/OR SEC 2.05 J.P. MORGAN SECURITIES LLC (ID: 030975-10-6) WTI CALL OPTION USD PUT OPTION STRIKE 111.00 EXPIRING 07/11/2013 100,000 BARRELS EXPIRATION OF PURCHASED OTC CALL (ID: OTCBDC-PA-H) WTI PUT OPTION USD CALL OPTION STRIKE 87.50 EXPIRING 07/11/2013 100,000 BARRELS EXPIRATION OF WRITTEN OTC PUT (ID: OTCBDP-JZ-Y) MERRIMACK PHARMACEUTICALS INC @ 5.01 10,020.00 BROKERAGE 80.00 TAX &/OR SEC .18 J.P. MORGAN SECURITIES LLC (ID: 590328-10-0) HEALTHCARE REALTY TRUST @ 26.75 53,500.00 BROKERAGE 80.00 TAX &/OR SEC .94 J.P. MORGAN SECURITIES LLC (ID: 421946-10-4) PENNANTPARK FLOATING RATE CA COM @ 14.00 56,000.00 BROKERAGE 160.00 TAX &/OR SEC .98 J.P. MORGAN SECURITIES LLC (ID: 70806A-10-6) Account Page 24 of 33 Consolidated Statement Page 27 (4,000.000) 13.96 55,839.02 (56,800.00) (960.98) S (2,000.000) 26.71 53,419.06 (52,800.00) 619.06 S (2,000.000) 4.97 9,939.82 (10,000.00) (60.18) S 100.000 86,000.00 86,000.00 S (100.000) (86,000.00) (86,000.00) S (2,500.000) 46.859 117,147.95 (119,000.00) (1,852.05) S (1,250.000) 46.859 EFTA01546826 58,573.97 (59,500.00) (926.03) S (1,000.000) 63.459 63,458.89 (63,000.00) 458.89 S Quantity (14,000.000) Per Unit Amount 17.96 Proceeds 251,435.61 Cost (252,000.00) Realized Gain/Loss (564.39) S* EFTA01546827 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Trade Date Settle Date Type Selection Method Description Settled Sales/Maturities/Redemptions 7/22 7/22 7/16 7/22 7/17 7/22 7/17 7/22 7/19 7/24 7/19 7/24 7/25 7/25 7/25 7/25 7/25 7/25 Sale High Cost Sale High Cost Sale High Cost Sale High Cost Sale High Cost Principal Payment SEQUOIA MORTGAGE TRUST 11 CL 81 VAR RT Pro Rata Quantity (4,722.770) 12/20/2032 DTD 10/30/2002 PAYMENT A/C PRINCIPAL (ID: 81744A-AB-4) WELLS FARGO & COMPANY PFD 5.85% @ 25.01 875,350.00 BROKERAGE 1,400.00 TAX &/OR SEC 15.24 J.P. MORGAN SECURITIES LLC (ID: 949746-55-6) EQT MIDSTREAM PARTNERS LP @ 44.50 44,500.00 BROKERAGE 40.00 TAX &/OR SEC .78 J.P. MORGAN SECURITIES LLC (ID: 268858-10-0) REALOGY HOLDINGS CORP @ 51.16 51,160.00 BROKERAGE 40.00 TAX &/OR SEC .90 J.P. MORGAN SECURITIES LLC (ID: 75605Y-10-6) EFTA01546828 DIAMOND RESORTS INTERNATIONA @ 14.77111 13,294.00 BROKERAGE 36.00 TAX &/OR SEC .24 J.P. MORGAN SECURITIES LLC (ID: 25272T-10-4) SYNOVUS FINANCIAL CORP @ 3.24 87,480.00 BROKERAGE 1,080.00 TAX &/OR SEC 1.53 J.P. MORGAN SECURITIES LLC (ID: 87161C-10-5) Principal Payment COUNTRYWIDE HOME LOANS 2003-1 CL B1 5.750% Pro Rata (37,660.060) 03/25/2033 DTD 01/01/2003 PAYMENT A/C PRINCIPAL (ID: 12669D-YS-1) Principal Payment COUNTRYWIDE HOME LOANS 2003-26 CL B1 5.33684% Pro Rata 08/25/2033 DTD 06/01/2003 PAYMENT A/C PRINCIPAL (ID: 12669E-RR-9) Principal Payment CHASE MORTGAGE FINANCE CORPORATION REMIC Pro Rata 2007-A1 CL 2A4 2.99199% 02/25/2037 DTD 02/01/2007 PAYMENT A/C PRINCIPAL (ID: 161630-AK-4) Account Page 25 of 33 Consolidated Statement Page 28 (39,781.120) 100.00 39,781.12 (35,206.29) 4,574.83 S (30,097.630) 100.00 30,097.63 (23,175.17) 6,922.46 S 100.00 37,660.06 (35,965.36) 1,694.70 S (27,000.000) 3.20 86,398.47 (83,430.00) 2,968.47 S (900.000) 14.731 13,257.76 (12,600.00) 657.76 S (1,000.000) 51.119 51,119.10 (48,500.00) 2,619.10 S EFTA01546829 (1,000.000) 44.459 44,459.22 (43,500.00) 959.22 S (35,000.000) 24.97 873,934.76 (875,000.00) (1,065.24) S Per Unit Amount 100.00 Proceeds 4,722.77 Cost (3,483.04) Realized Gain/Loss 1,239.73 S EFTA01546830 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Trade Date Settle Date Type Selection Method Description Settled Sales/Maturities/Redemptions 7/25 7/25 7/25 7/25 7/25 7/25 7/18 7/25 7/23 7/26 7/23 7/26 7/24 7/29 7/25 7/30 7/25 7/31 Principal Payment HOMEBANC MORTGAGE TRUST 2004-1 CL 1M1 VAR RT Pro Rata 08/25/2029 DTD 07/30/2004 PAYMENT A/C PRINCIPAL (ID: 43739E-AC-1) Principal Payment STRUCTURED ASSET SECURITIES CO 2003-10 CL B2 Pro Rata 6.000% 04/25/2033 DTD 03/28/2003 PAYMENT A/C PRINCIPAL (ID: 86359A-QW-6) Principal Payment IMPAC CMB TRUST 2005-2 CL 1M2 VAR RT 04/25/2035 Pro Rata DTD 03/03/2005 PAYMENT A/C PRINCIPAL (ID: 45254N-NC-7) Sale High Cost Sale High Cost Sale High Cost Sale High Cost Sale High Cost Sale High Cost WHITEWAVE FOODS CO - A @ 18.62625 111,757.50 BROKERAGE 240.00 TAX &/OR SEC 1.95 J.P. MORGAN EFTA01546831 SECURITIES LLC (ID: 966244-10-5) PHILLIPS 66 PARTNERS LP @ 28.98 14,490.00 BROKERAGE 20.00 TAX &/OR SEC .26 J.P. MORGAN SECURITIES LLC (ID: 718549-20-7) SYNOVUS FINANCIAL CORP PFD 7.875% @ 25.47 509,400.00 BROKERAGE 800.00 J.P. MORGAN SECURITIES LLC (ID: 87161C-40-2) AGIOS PHARMACEUTICALS INC @ 29.00 29,000.00 BROKERAGE 40.00 TAX &/OR SEC .51 J.P. MORGAN SECURITIES LLC (ID: 00847X-10-4) WCI COMMUNITIES INC @ 15.122 15,122.00 BROKERAGE 40.00 TAX &/OR SEC .27 J.P. MORGAN SECURITIES LLC (ID: 92923C-80-7) BOISE CASCADE COMPANY @ 26.90 53,800.00 BROKERAGE 80.00 TAX &/OR SEC .94 J.P. MORGAN SECURITIES LLC (ID: 09739D-10-0) (2,000.000) 26.86 53,719.06 (54,000.00) (280.94) S (1,000.000) 15.082 15,081.73 (15,000.00) 81.73 S (1,000.000) 28.959 28,959.49 (18,000.00) 10,959.49 S (20,000.000) 25.43 508,600.00 (500,000.00) 8,600.00 S (500.000) 28.939 14,469.74 (11,500.00) 2,969.74 S (6,000.000) 18.586 111,515.55 (106,500.00) 5,015.55 S (14,070.370) 100.00 14,070.37 (9,814.08) 4,256.29 S EFTA01546832 (31,848.890) 100.00 31,848.89 (31,848.89) Quantity (1,649.650) Per Unit Amount 100.00 Proceeds 1,649.65 Cost (927.93) Realized Gain/Loss 721.72 S Account Page 26 of 33 Consolidated Statement Page 29 EFTA01546833 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Trade Date Settle Date 7/25 7/31 7/25 7/31 Type Selection Method Description Settled Sales/Maturities/Redemptions Sale High Cost Sale High Cost CELLULAR DYNAMICS INTERNATIO @ 10.50 13,125.00 BROKERAGE 50.00 TAX &/OR SEC .23 J.P. MORGAN SECURITIES LLC (ID: 15117V-10-9) TOWER INTERNATIONAL INC @ 20.70 31,050.00 BROKERAGE 60.00 TAX &/OR SEC .55 J.P. MORGAN SECURITIES LLC (ID: 891826-10-9) Total Settled Sales/Maturities/Redemptions $2,947,938.08 ($2,901,675.76) $46,262.32 S (1,500.000) 20.66 30,989.45 (31,875.00) (885.55) S Quantity (1,250.000) Per Unit Amount 10.46 Proceeds 13,074.77 Cost (15,000.00) Realized Gain/Loss (1,925.23) S Trade Date Settle Date Type Description Settled Securities Purchased 6/26 Purchase 7/1 6/26 EFTA01546834 7/2 6/27 7/2 6/26 7/2 7/9 7/10 7/9 7/12 Purchase Purchase Purchase Purchase Purchase LUXOFT HOLDING INC @ 17.00 J.P. MORGAN SECURITIES LLC (ID: G57279-10-4) NANOSTRING TECHNOLOGIES INC @ 10.00 J.P. MORGAN SECURITIES LLC (ID: 63009R-10-9) CDW CORP/DE @ 17.00 J.P. MORGAN SECURITIES LLC (ID: 12514G-10-8) HD SUPPLY HOLDINGS INC @ 18.00 J.P. MORGAN SECURITIES LLC (ID: 40416M-10-5) JPM VALUE ADVANTAGE FD - INSTL FUND 1400 J.P.MORGAN SECURITIES LLC AS AGENT @ 25.41 (ID: 4812A2-58-7) HOME PROPERTIES INC @ 63.00 J.P. MORGAN SECURITIES LLC (ID: 437306-10-3) 1,000.000 63.00 (63,000.00) Quantity 500.000 6,000.000 3,000.000 14,000.000 78,709.170 Per Unit Amount 17.00 10.00 17.00 18.00 25.41 Market Cost (8,500.00) (60,000.00) (51,000.00) (252,000.00) (2,000,000.00) * * EFTA01546835 * Account Page 27 of 33 Consolidated Statement Page 30 EFTA01546836 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Trade Date Settle Date Type Settled Securities Purchased 7/9 Purchase 7/12 7/9 7/12 7/10 7/15 7/12 7/17 7/16 7/19 7/16 7/19 7/16 7/19 7/15 7/22 7/17 7/22 7/19 7/24 7/19 7/24 7/17 7/25 Purchase Purchase Description AMERIGAS PARTNERS L P UNIT LIMITED PARTNERSHIP INT @ 47.60 J.P. MORGAN SECURITIES LLC (ID: 030975-10-6) AMERIGAS PARTNERS L P UNIT LIMITED PARTNERSHIP INT @ 47.60 J.P. MORGAN SECURITIES LLC (ID: 030975-10-6) IMPAC CMB TRUST 2005-2 CL 1M2 VAR RT 04/25/2035 DTD 03/03/2005 @ 69.75 JP MORGAN SECURITIES LLC (BIDL) FACE VALUE 10,000,000.00 (ID: 45254N-NC-7) Purchase Purchase Purchase Purchase Purchase Purchase Purchase EFTA01546837 Purchase Purchase MERRIMACK PHARMACEUTICALS INC @ 5.00 J.P. MORGAN SECURITIES LLC (ID: 590328-10-0) HEALTHCARE REALTY TRUST @ 26.40 J.P. MORGAN SECURITIES LLC (ID: 421946-10-4) PENNANTPARK FLOATING RATE CA COM @ 14.20 J.P. MORGAN SECURITIES LLC (ID: 70806A-10-6) REALOGY HOLDINGS CORP @ 48.50 J.P. MORGAN SECURITIES LLC (ID: 75605Y-10-6) WELLS FARGO & COMPANY PFD 5.85% @ 25.00 J.P. MORGAN SECURITIES LLC (ID: 949746-55-6) EQT MIDSTREAM PARTNERS LP @ 43.50 J.P. MORGAN SECURITIES LLC (ID: 268856-10-0) DIAMOND RESORTS INTERNATIONA @ 14.00 J.P. MORGAN SECURITIES LLC (ID: 25272T-10-4) SYNOVUS FINANCIAL CORP @ 3.09 J.P. MORGAN SECURITIES LLC (ID: 87161C-10-5) WHITEWAVE FOODS CO - A @ 17.75 J.P. MORGAN SECURITIES LLC (ID: 966244-10-5) 2,000.000 2,000.000 4,000.000 1,000.000 35,000.000 1,000.000 900.000 27,000.000 6,000.000 5.00 26.40 14.20 48.50 25.00 43.50 14.00 3.09 17.75 Account Page 28 of 33 (10,000.00) (52,800.00) (56,800.00) (48,500.00) (875,000.00) (43,500.00) (12,600.00) (83,430.00) (106,500.00) Consolidated Statement Page 31 1,566,775.200 69.75 EFTA01546838 (1,092,825.70) 1,250.000 47.60 (59,500.00) Quantity 2,500.000 Per Unit Amount 47.60 Market Cost (119,000.00) EFTA01546839 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Trade Date Settle Date Type Settled Securities Purchased 7/22 Purchase 7/25 7/23 7/26 7/24 7/29 7/22 7/29 7/24 7/30 7/25 7/30 7/25 7/30 7/25 7/30 7/25 7/30 7/24 7/31 Purchase Purchase Purchase Purchase Purchase Purchase Purchase Purchase Description SYNOVUS FINANCIAL CORP PFD 7.875% @ 25.00 J.P. MORGAN SECURITIES LLC (ID: 87161C-40-2) PHILLIPS 66 PARTNERS LP @ 23.00 J.P. MORGAN SECURITIES LLC (ID: 718549-20-7) AGIOS PHARMACEUTICALS INC @ 18.00 J.P. MORGAN SECURITIES LLC (ID: 00847X-10-4) JPMORGAN CHASE & CO VAR RT 07/24/2013 DTD 07/29/2013 @ 100.00 JP MORGAN SECURITIES LLC (BIDL) (ID: 48126H-AA-8) BOISE CASCADE COMPANY @ 27.00 J.P. MORGAN SECURITIES LLC (ID: 09739D-10-0) CELLULAR DYNAMICS INTERNATIO @ 12.00 J.P. MORGAN SECURITIES LLC (ID: 15117V-10-9) TOWER INTERNATIONAL INC @ 21.25 J.P. MORGAN SECURITIES LLC (ID: 891826-10-9) EFTA01546840 WCI COMMUNITIES INC @ 15.00 J.P. MORGAN SECURITIES LLC (ID: 92923C-80-7) SG MARKET PLUS WTI CRUDE 08/05/14 LNKD TO CL1 78.75% BARRIER- 10%CPN ,UNCAPPED INITIAL LEVEL-07/25/13 CL1:105.68 @ 100.00 JP MORGAN SECURITIES LLC (BIDL) (ID: 78423E-HS-6) Purchase Total Settled Securities Purchased JONES ENERGY INC - A @ 15.00 J.P. MORGAN SECURITIES LLC (ID: 48019R-10-8) 7,000.000 15.00 (105,000.00) ($8,495,330.70) 2,000.000 1,250.000 1,500.000 1,000.000 2,000,000.000 27.00 12.00 21.25 15.00 100.00 (54,000.00) (15,000.00) (31,875.00) (15,000.00) (2,000,000.00) Quantity 20,000.000 500.000 1,000.000 750,000.000 Per Unit Amount 25.00 23.00 18.00 100.00 Market Cost (500,000.00) (11,500.00) (18,000.00) (750,000.00) Account Page 29 of 33 Consolidated Statement Page 32 EFTA01546841 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Trade Date Type Est. Settle Date Selection Method Description Pending Sales, Maturities, Redemptions Sale 7/24 7/29 7/24 7/29 7/31 8/5 Total Pending Sales, Maturities, Redemptions $353,524.10 ($352,910.00) $614.10 S Sale Sale GRANA Y MONTERO SA - ADR (ID: 38500P-20-8) JONES ENERGY INC - A (ID: 48019R-10-8) COUSINS PROPERTIES INC (ID: 222795-10-6) Quantity (7,000.000) (7,000.000) (10,000.000) Per Unit Amount 21.542 14.263 10.385 Proceeds 150,512.37 99,560.86 103,450.87 Cost (147,910.00) (105,000.00) (100,000.00) Realized Gain/Loss 2,602.37 S (5,439.14) S 3,450.87 S Trade Date Est. Settle Date Type Pending Securities Purchased 7/24 Purchase 7/29 7/31 EFTA01546842 8/5 Total Pending Securities Purchased ($247,910.00) Purchase Description GRANA Y MONTERO SA - ADR (ID: 38500P-20-8) COUSINS PROPERTIES INC (ID: 222795-10-6) Quantity 7,000.000 10,000.000 Per Unit Amount 21.13 10.00 Market Cost (147,910.00) (100,000.00) Account Page 30 of 33 Consolidated Statement Page 33 EFTA01546843 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 COST ADJUSTMENTS Settle Date Type Cost Adjustments 7/26 Cost Basis Adj Description SOUTHERN CAL EDISON 6 1/4% DEC 31 2049 DTD 01/17/2012 GENERAL MAINTENANCE (ID: 842400-FU-2) Quantity 3,000,000.000 Cost Basis Adjustments 16,666.67 Account Page 31 of 33 Consolidated Statement Page 34 EFTA01546844 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Portfolio Activity Summary - Euro Beginning Cash Balance Current Transactions INFLOWS Contributions Foreign Exchange - Inflows Total Inflows OUTFLOWS ** Total Outflows Foreign Exchange - Outflows $0.00 Ending Cash Balance -$0.00 1,135,367.75 6,528,249.92 $7,663,617.67 (6,233,410.41) ($6,233,410.41) -0.00 837,388.58 5,000,000.00 5,837,388.58 0.00 837,388.58 * Year to date