<SEC-DOCUMENT>0001839882-21-012669.txt : 20210903
<SEC-HEADER>0001839882-21-012669.hdr.sgml : 20210903
<ACCEPTANCE-DATETIME>20210903105100
ACCESSION NUMBER:		0001839882-21-012669
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		18
CONFORMED PERIOD OF REPORT:	20210630
FILED AS OF DATE:		20210903
DATE AS OF CHANGE:		20210903
EFFECTIVENESS DATE:		20210903

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GABELLI EQUITY TRUST INC
		CENTRAL INDEX KEY:			0000794685
		IRS NUMBER:				222736509
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04700
		FILM NUMBER:		211235442

	BUSINESS ADDRESS:	
		STREET 1:		ONE CORP CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		9149215070
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>gab-ncsrs_063021.htm
<DESCRIPTION>CERTIFIED SEMI-ANNUAL SHAREHOLDER REPORT
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt">UNITED STATES</FONT><BR>
<FONT STYLE="font-size: 14pt">SECURITIES AND EXCHANGE COMMISSION</FONT><BR>
<FONT STYLE="font-size: 12pt">Washington, D.C. 20549</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>FORM N-CSR</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>CERTIFIED
SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Investment Company Act file number<U> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;811-04700&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 24pt"> The Gabelli
Equity Trust Inc.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 24pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U></U>(Exact
name of registrant as specified in charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">One Corporate Center<BR>
Rye, New York 10580-1422</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U></U>(Address of principal executive offices) (Zip code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Bruce N. Alpert<BR>
Gabelli Funds, LLC<BR>
One Corporate Center<BR>
  Rye, New York 10580-1422</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U></U>(Name and address of agent for service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Registrant&rsquo;s telephone number, including
area code:<U> 1-800-422-3554</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of fiscal year end: <U>&nbsp;&nbsp;&nbsp;December 31</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of reporting period: <U>&nbsp;&nbsp;&nbsp;&nbsp;June 30, 2021</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Form N-CSR is to be used by management
investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report
that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1).
The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking
roles.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A registrant is required to disclose the
information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond
to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget
(&ldquo;OMB&rdquo;) control number. Please direct comments concerning the accuracy of the information collection burden estimate
and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington,
DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. &sect; 3507.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>



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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Item 1. Reports to Stockholders.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-weight: normal">(a)</FONT></TD><TD><FONT STYLE="font-weight: normal">The Report to Shareholders is attached herewith.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 20pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 14pt; color: #12100B"><B>Semiannual
Report </B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 14pt; color: #1D1D1B">&mdash;</FONT></B><B>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 14pt; color: #12100B">June 30, 2021</FONT></B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 125pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>To
Our Stockholders,</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.35in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B">For
the six months ended </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">June 30,
2021</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B">, the net asset value (NAV)
total return of The Gabelli Equity Trust Inc. (the Fund) was 19.0%, compared with total returns of 15.3% and 13.8% for the Standard
&amp; Poor&rsquo;s (S&amp;P) 500 Index and the Dow Jones Industrial Average, respectively. The total return for the Fund&rsquo;s
publicly traded shares was 17.7%. The Fund&rsquo;s NAV per share was $6.67, while the price of the publicly traded shares closed
at $6.90 on the New York Stock Exchange (NYSE). See page 2 for additional performance information.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.35in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B">Enclosed
are the financial statements, including the schedule of investments, as of </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">June
30, 2021</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B">.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 25pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B">&nbsp;</FONT></P>


<TABLE CELLSPACING="0" CELLPADDING="5" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="width: 100%; border: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: rgb(29,29,27)">As
    permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Fund&rsquo;s annual and semiannual
    shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead,
    the reports will be made available on the Fund&rsquo;s website (www.gabelli.com), and you will be notified by mail each time
    a report is posted and provided with a website link to access the report. If you already elected to receive shareholder reports
    electronically, you will not be affected by this change and you need not take any action. To elect to receive all future reports
    on paper free of charge, please contact your financial intermediary, or, if you invest directly with the Fund, you may call
    800-422-3554 or send an email request to info@gabelli.com.</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.24in; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Comparative
Results</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></P>
<center>
<div STYLE="BORDER:solid BLACK 2PX;padding-left:2%;padding-Right:2%;padding-top:1%;padding-bottom:1%;width:96%">
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD COLSPAN="16" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B><U>Average
    Annual Returns through June 30, 2021 (a) (Unaudited)</U></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="width: 29%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 12pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 12pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 12pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 12pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 12pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 12pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 12pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 8%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Since</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Year
    to</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Inception</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Date</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">1
    Year</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">5
    year</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">10
    year</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">15
    year</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">20
    year</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">25
    year</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">(8/21/86)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="padding-right: 25pt; text-align: left; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"><B>Gabelli
    Equity Trust (GAB)</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>NAV
    Total Return (b)</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">19.04%&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 1pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">60.18%&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 1pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">14.81%&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;12.14%&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;10.16%&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;&nbsp;9.78%&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;10.38%&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 3pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;11.18%&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Investment
    Total Return (c)</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 12pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;17.69</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 1pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">54.86</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 1pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">17.02</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;12.93</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;10.85</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;&nbsp;9.10</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;10.69</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;11.10</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">S&amp;P
    500 Index</FONT></TD>
    <TD STYLE="padding-right: 12pt; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">15.25</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 1pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">40.79</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 1pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">17.65</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;14.84</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;10.73</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;&nbsp;8.61</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;&nbsp;9.76</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;10.91(d)&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="text-align: left; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Dow
    Jones Industrial Average</FONT></TD>
    <TD STYLE="padding-right: 12pt; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">13.83</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 1pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">36.53</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 1pt; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">16.67</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;13.47</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;10.55</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;&nbsp;8.74</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right; padding-right: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;10.00</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;11.50(d)&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #12100B"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0.3pt; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 21.7pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(a)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Performance
                                         returns for periods of less than one year are not annualized. The S&amp;P 500 Index is
                                         an unmanaged indicator of stock market performance. The Dow Jones Industrial Average
                                         is an unmanaged index of 30 large capitalization stocks. Dividends are considered reinvested.
                                         You cannot invest directly in an index. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #12100B"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0.3pt; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 21.7pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(b)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total
                                         returns and average annual returns reflect changes in the NAV per share, reinvestment
                                         of distributions at NAV on the ex-dividend date, adjustments for rights offerings, spin-offs,
                                         and taxes paid on undistributed long term capital gains and are net of expenses. Since
                                         inception return is based on an initial NAV of $9.34. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #12100B"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0.3pt; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 21.7pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(c)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total
                                         returns and average annual returns reflect changes in closing market values on the NYSE,
                                         reinvestment of distributions, and adjustments for rights offerings, spin-offs, and taxes
                                         paid on undistributed long term capital gains. Since inception return is based on an
                                         initial offering price of $10.00. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #12100B"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0.3pt; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 21.7pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(d)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">From
                                         August 31, 1986, the date closest to the Fund&rsquo;s inception for which data are available.
                                         </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #12100B; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Investors
should carefully consider the investment objectives, risks, charges, and expenses of the Fund before investing.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Returns
represent past performance and do not guarantee future results. Investment returns and the principal value of an investment will
fluctuate. The Fund&rsquo;s use of leverage may magnify the volatility of net asset value changes versus funds that do not employ leverage.
When shares are sold, they may be worth more or less than their original cost. Current performance may be lower or higher than
the performance data presented. Visit www.gabelli.com for performance information as of the most recent month end.</B></FONT></P>

</div>
</center>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>Summary
of Portfolio Holdings (Unaudited)</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B">The
following tables present portfolio holdings as a percent of total investments as of </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">June
30, 2021</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B">:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 11pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>
<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 78%; color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in">Financial Services</TD><TD STYLE="width: 1%; color: #12100B">&nbsp;</TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; color: #12100B; text-align: right">11.7</TD><TD STYLE="width: 5%; color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in">Food and Beverage</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">10.0</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Equipment and Supplies</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">7.0</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Health Care</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">5.4</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in">Consumer Products</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">5.4</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Diversified Industrial</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">5.4</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Entertainment</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">5.0</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in">Business Services</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">4.4</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Machinery</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">3.7</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in">Automotive: Parts and Accessories</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">3.6</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in">Consumer Services</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">3.3</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Cable and Satellite</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">2.8</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in">Energy and Utilities</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">2.8</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.125in">Electronics</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">2.5</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.125in">Broadcasting</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">2.4</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.125in">Retail</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">2.3</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Specialty Chemicals</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">2.1</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Environmental Services</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">2.0</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">U.S. Government Obligations</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">2.0</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Telecommunications</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">2.0</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in">Computer Software and Services</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">2.0</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
</TABLE>
</DIV>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 78%; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Building and Construction</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="width: 1%; color: #12100B">&nbsp;</TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; color: #12100B; text-align: right">1.8</TD><TD STYLE="width: 5%; color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Aerospace and Defense</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">1.7</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Hotels and Gaming</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">1.7</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in">Real Estate</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">0.9</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in">Aviation: Parts and Services</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">0.9</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in">Metals and Mining</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">0.9</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.125in">Automotive</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">0.8</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in">Communications Equipment</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">0.6</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Agriculture</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">0.6</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Wireless Communications</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">0.5</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.125in">Transportation</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">0.5</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Closed-End Funds</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">0.5</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Publishing</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">0.4</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Manufactured Housing and Recreational Vehicles</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">0.3</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.125in">Semiconductors</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">0.1</TD><TD STYLE="color: #12100B; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Computer Hardware</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid">0.0</TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt">%*</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 2pt">&nbsp;</TD><TD STYLE="color: #12100B; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 2pt">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; color: #12100B; text-align: right">100.0</TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 2pt">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 40%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #12100B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #12100B"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">*</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Amount
                                         represents less than 0.05%.</FONT></TD>
</TR></TABLE>
</DIV>
<BR CLEAR="ALL">
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 30pt; color: #12100B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 30pt; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Fund files a complete schedule of portfolio holdings with the Securities and Exchange Commission (the SEC) for the first and third
quarters of each fiscal year on Form N-PORT. Shareholders may obtain this information at www.gabelli.com or by calling the Fund
at 800-GABELLI (800-422-3554). The Fund&rsquo;s Form N-PORT is available on the SEC&rsquo;s website at www.sec.gov and may also
be reviewed and copied at the SEC&rsquo;s Public Reference Room in Washington, DC. Information on the operation of the Public
Reference Room may be obtained by calling 800-SEC-0330.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Proxy
Voting</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Fund files Form N-PX with its complete proxy voting record for the twelve months ended June 30, no later than August 31 of each
year. A description of the Fund&rsquo;s proxy voting policies, procedures, and how each Fund voted proxies relating to portfolio
securities is available without charge, upon request, by (i) calling 800-GABELLI (800-422-3554); (ii) writing to The Gabelli Funds
at One Corporate Center, Rye, NY 10580-1422; or (iii) visiting the SEC&rsquo;s website at www.sec.gov.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Schedule
of Investments &mdash; June 30, 2021 (Unaudited)</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 6pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>
<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">COMMON STOCKS &mdash; 97.4%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Financial Services &mdash; 11.7%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">74,000</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Aegon NV</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">278,433</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">307,021</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Ally Financial Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">183,322</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">289,072</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">294,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">American Express Co.(a)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">28,044,793</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">48,577,620</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">28,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Apollo Global Management</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">806,854</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,741,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Argo Group International</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Holdings Ltd.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">371,865</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">829,280</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,900</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Axis Capital Holdings Ltd.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">140,326</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">142,129</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">21,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Banco Bilbao Vizcaya</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Argentaria SA</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">115,299</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">133,281</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">75,740</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Banco Santander SA, ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">548,398</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">296,143</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">45,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Bank of America Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,292,046</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,855,350</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">93,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Barclays plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">179,371</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">221,324</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">109</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Berkshire Hathaway Inc.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Cl.
    A&dagger;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">989,916</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">45,627,509</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">210</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">BlackRock Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">148,976</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">183,744</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">55,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Brewin Dolphin Holdings</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">plc</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">212,808</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">264,383</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Capital One Financial Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">200,519</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">340,318</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">CIT Group Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">271,326</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">397,243</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">128,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Citigroup Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,659,623</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,105,525</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">35,774</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Commerzbank AG&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">231,017</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">253,751</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">19,345</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Credit Agricole SA</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">243,112</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">270,993</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Credit Suisse Group AG,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">165,458</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">136,370</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Cullen/Frost Bankers Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">361,440</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">560,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">93,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Dah Sing Banking Group</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Ltd.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">97,546</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">102,761</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">100,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Dah Sing Financial Holdings</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Ltd.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">291,061</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">344,685</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">46,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Daiwa Securities Group Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">209,325</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">255,364</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">30,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Deutsche Bank AG&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">221,322</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">392,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">900</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Deutsche Boerse AG</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">153,713</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">157,088</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">258</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">E-L Financial Corp. Ltd.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">207,513</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">197,699</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">EXOR NV</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">145,670</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">160,219</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">18,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Franklin Resources Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">425,401</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">591,815</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">51,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">GAM Holding AG&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">177,949</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">110,792</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">H&amp;R Block Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">219,623</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">234,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Hannon Armstrong</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Sustainable</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Infrastructure Capital</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc., REIT</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">169,710</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">561,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">24,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">ING Groep NV</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">237,247</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">317,022</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">37,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Interactive Brokers Group</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc., Cl. A</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">613,932</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,432,010</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">117,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Janus Henderson Group plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,534,226</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,544,651</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Japan Post Bank Co. Ltd.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">81,875</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">85,662</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">110,900</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Jefferies Financial Group</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,797,549</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,792,780</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">36,900</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">JPMorgan Chase &amp; Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,467,486</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,739,426</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>





</DIV>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT;WIDTH:48%">



<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Julius
    Baer Group Ltd.</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">237,290</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">326,290</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">29,800</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Kinnevik
    AB, Cl. A</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">494,015</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,349,655</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Loews
    Corp.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">558,454</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">765,100</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">70,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Marsh
    &amp; McLennan</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Companies
    Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,021,860</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,847,600</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Moody&rsquo;s
    Corp.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">312,150</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,261,330</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">45,758</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Morgan
    Stanley</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,148,921</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,195,551</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">240</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">MSCI
    Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">99,453</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">127,939</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">90,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Natwest
    Group plc</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">196,649</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">254,383</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">110,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">New
    York Community</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Bancorp
    Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">951,540</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,212,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,700</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">NN
    Group NV</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">282,056</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">316,033</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">24,410</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">PayPal
    Holdings Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,402,069</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,115,027</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Pershing
    Square Tontine</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Holdings
    Ltd., Cl.A&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">207,103</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">227,600</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Plus500
    Ltd.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">101,663</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">101,569</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">27,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Polar
    Capital Holdings plc</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">230,359</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">310,371</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">525,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Post
    Holdings Partnering</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Corp.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,250,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,454,750</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Prosus
    NV</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">856,547</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">880,099</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">67,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">S&amp;P
    Global Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,730,799</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">27,500,150</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Sculptor
    Capital</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Management
    Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">60,259</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">98,360</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Shinhan
    Financial Group Co.</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Ltd.,
    ADR&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">242,942</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">286,800</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Shinsei
    Bank Ltd.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">79,715</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">85,247</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Societe
    Generale SA</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">201,301</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">280,039</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">44,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Standard
    Chartered plc</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">279,986</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">280,589</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">123,300</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">State
    Street Corp.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,362,737</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,145,124</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">90,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">T.
    Rowe Price Group Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,821,341</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">17,817,300</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">163,800</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The
    Bank of New York</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Mellon
    Corp.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,435,158</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,391,474</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">35,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The
    Blackstone Group Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,317,582</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,399,900</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">67,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The
    Charles Schwab Corp.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,307,384</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,878,270</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,520</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The
    Goldman Sachs Group</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,418,855</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,890,306</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The
    PNC Financial Services</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Group
    Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">267,936</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">381,520</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">17,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Truist
    Financial Corp.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">280,578</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">943,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">W.
    R. Berkley Corp.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">129,431</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">372,150</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,400</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Webster
    Financial Corp.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">215,986</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">288,036</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">174,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Wells
    Fargo &amp; Co.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,749,391</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,880,460</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">17,928</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Westwood
    Holdings Group</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; padding-left: 11pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">258,692</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">390,113</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">115,006,252</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">256,608,165</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Food and Beverage &mdash; 10.0%</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Ajinomoto
    Co. Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">52,866</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">77,879</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,100</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Anheuser-Busch
    InBev SA/</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">NV</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">148,084</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">151,421</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">95,800</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Brown-Forman
    Corp., Cl. A</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,332,829</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,753,900</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">49,300</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Brown-Forman
    Corp., Cl. B</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,130,138</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,694,542</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

</DIV>
<BR CLEAR="ALL">

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-size: 8pt">See accompanying
notes to financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 4; Value: 2 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Schedule
of Investments (Continued) &mdash; June 30, 2021 (Unaudited)</B></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>
<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">COMMON STOCKS (Continued)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Food and Beverage (Continued)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">37,800</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Campbell Soup Co.</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,273,989</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,723,302</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">65,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Chr. Hansen Holding A/S</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,725,303</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,866,454</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Coca-Cola Europacific</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Partners plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">275,290</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">889,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">204,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Conagra Brands Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,472,251</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,421,520</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">28,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Constellation Brands Inc.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Cl. A</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">351,182</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,548,920</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Crimson Wine Group Ltd.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">128,738</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">228,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">189,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Danone SA</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,232,935</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13,340,417</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">880,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Davide Campari-Milano NV</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,083,650</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,785,881</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Diageo plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">150,004</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">177,141</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">115,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Diageo plc, ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,856,122</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">22,044,350</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">44,583</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Farmer Brothers Co.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">282,766</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">565,758</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">90,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Flowers Foods Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">490,089</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,178,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">82,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Fomento Economico</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Mexicano SAB de CV,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,440,559</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,946,722</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">General Mills Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">923,210</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">913,950</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">17,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Glanbia plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">215,883</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">275,960</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,848,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Grupo Bimbo SAB de CV,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Cl. A</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,624,249</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,070,671</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">41,300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Heineken NV</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,962,995</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,004,885</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Ingredion Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">488,476</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">905,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">105,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">ITO EN Ltd.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,422,898</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,228,453</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">58,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Kerry Group plc, Cl. A</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">675,385</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,150,573</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Laurent-Perrier</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">209,010</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">251,995</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">LVMH Moet Hennessy Louis</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Vuitton SE</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">335,341</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,606,124</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">30,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Maple Leaf Foods Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">565,951</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">622,701</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">33,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Molson Coors Beverage Co.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Cl.B&dagger;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,027,727</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,771,770</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">230,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Mondel&#275;z International Inc.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Cl. A</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,014,386</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,361,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Morinaga Milk Industry Co.</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Ltd.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">299,202</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">729,646</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">41,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Nestl&eacute; SA</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,791,828</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,105,669</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Nomad Foods Ltd.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">319,128</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">353,375</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">133,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">PepsiCo Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13,070,749</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">19,706,610</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">39,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Pernod Ricard SA</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,228,300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,701,318</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">31,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Post Holdings Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,883,605</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,362,570</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">41,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Remy Cointreau SA</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,589,709</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,567,222</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">70,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The Coca-Cola Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,582,913</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,787,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">42,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The Hain Celestial Group</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,019,455</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,705,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Inc.&dagger;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">24,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The J.M. Smucker Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,514,373</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,109,680</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">24,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The Kraft Heinz Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">704,738</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">978,720</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">45,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Tootsie Roll Industries Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">887,204</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,525,950</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">TreeHouse Foods Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">127,399</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">133,560</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">47,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Tyson Foods Inc., Cl. A</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">773,209</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,466,720</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>


</DIV>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT;WIDTH:48%">

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">334,000</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Yakult
    Honsha Co. Ltd.</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,542,876</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">18,910,482</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">107,226,994</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">220,702,111</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Equipment and Supplies &mdash; 7.0%</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">355,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">AMETEK
    Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">18,645,457</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">47,392,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Amphenol
    Corp., Cl. A</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,928</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">957,740</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Ardagh
    Group SA</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">445,738</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">613,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">84,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">CIRCOR
    International Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,371,092</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,738,400</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Crown
    Holdings Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">644,225</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">664,365</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">950</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Danaher
    Corp.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">222,930</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">254,942</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">294,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Donaldson
    Co. Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,085,910</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">18,677,820</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">22,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">DS
    Smith plc</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">120,583</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">127,178</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">193,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Flowserve
    Corp.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,307,588</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,801,920</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">37,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Franklin
    Electric Co. Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">214,087</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,982,940</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">90,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Gores
    Holdings V Inc.,</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Cl.A&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">938,091</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">909,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Hubbell
    Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,961,776</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,802,600</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">143,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">IDEX
    Corp.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">17,571,970</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">31,577,175</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,288</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Kimball
    Electronics Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">173,883</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">180,181</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">98,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Mueller
    Industries Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,521,405</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,244,380</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">195,900</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Mueller
    Water Products</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.,
    Cl. A</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,018,166</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,824,878</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">550</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Parker-Hannifin
    Corp.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">149,310</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">168,911</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Sealed
    Air Corp.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">128,172</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">474,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">24,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Tenaris
    SA, ADR</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">968,982</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">525,600</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">270,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The
    L.S. Starrett Co., Cl.A&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">864,760</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,521,800</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">80,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The
    Timken Co.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,018,718</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,447,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">59,600</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The
    Weir Group plc&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">250,790</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,526,051</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">114,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Watts
    Water Technologies</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.,
    Cl. A</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,368,269</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,706,695</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">77,004,830</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">153,119,276</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="font-size: 10pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Health Care &mdash; 5.4%</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,100</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">AbbVie
    Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,229,138</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,362,944</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">800</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">ABIOMED
    Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">123,915</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">249,688</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">ACADIA
    Pharmaceuticals</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">48,709</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">48,780</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,736</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Acorda
    Therapeutics Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,874</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,281</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Aerie
    Pharmaceuticals Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">54,487</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">32,020</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Alcon
    Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">574,003</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,138,212</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Alimera
    Sciences Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">18,900</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">36,400</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Alkermes
    plc&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">48,540</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">49,040</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">AmerisourceBergen
    Corp.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">544,735</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">801,430</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Amgen
    Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,544,386</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,093,750</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,764</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Anika
    Therapeutics Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">95,074</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">119,654</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,901</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Aptinyx
    Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">44,030</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">30,850</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">AstraZeneca
    plc</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">203,998</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">240,224</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">47,992</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Axogen
    Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">643,610</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,037,107</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Baxter
    International Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">476,337</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,127,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,600</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Becton,
    Dickinson and Co.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">368,846</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">389,104</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Berkeley
    Lights Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">87,233</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">53,772</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Biogen
    Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,984,788</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,423,890</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>



<P STYLE="margin-top: 0; margin-bottom: 0"></P>
</DIV>
<BR CLEAR="ALL">
<P STYLE="margin-top: 0; margin-bottom: 0"></P>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">See
accompanying notes to financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Schedule
of Investments (Continued) &mdash; June 30, 2021 (Unaudited)</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 6pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>
<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">COMMON
    STOCKS (Continued)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Health
    Care (Continued)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">26,100</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">BioMarin Pharmaceutical</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,127,052</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,177,784</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">44,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Bluebird Bio Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,388,730</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,423,110</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">140,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Boston Scientific Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,050,260</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,986,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Bridgebio Pharma Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">138,467</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">152,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">149,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Bristol-Myers Squibb Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,992,060</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,996,272</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,150</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Calithera Biosciences Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">35,888</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,394</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">CareDx Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">102,919</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">128,128</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Cigna Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">486,187</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">711,210</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">30,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Clovis Oncology Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">393,065</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">176,320</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">167,823</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">ConforMIS Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">225,699</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">192,996</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Cortexyme Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">61,778</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">79,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Covetrus Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">152,841</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">426,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Cutera Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">327,129</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">657,002</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">CVS Group plc&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">148,196</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">240,528</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">CytomX Therapeutics Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">74,350</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">50,640</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">242,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Demant A/S&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,208,367</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13,621,846</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,660</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Edwards Lifesciences</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Corp.&dagger;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">144,724</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">171,926</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">eHealth Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">207,387</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">233,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">42,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">ElectroCore Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">87,690</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">49,980</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">24,411</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Electromed Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">230,584</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">275,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">17,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Endo International plc&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">127,781</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">80,496</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Evolus Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">42,843</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">37,950</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,040</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Exact Sciences Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">332,952</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">502,212</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Fresenius SE &amp; Co. KGaA</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">148,756</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">161,718</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">G1 Therapeutics Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">28,640</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">43,880</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Galapagos NV, ADR&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">435,668</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">344,450</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,390</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Gerresheimer AG</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">150,196</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">153,694</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Gilead Sciences Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">332,973</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">378,730</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Glaukos Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">37,965</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">84,830</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">GlaxoSmithKline plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">148,787</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">157,076</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Globus Medical Inc., Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">135,690</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">232,590</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,919</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">GoodRx Holdings Inc.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Cl.
    A&dagger;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">255,145</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">249,153</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Gritstone bio Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">19,130</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">18,260</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Guardant Health Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">83,710</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">62,095</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Haemonetics Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">180,090</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">199,920</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">61,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Henry Schein Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,700,084</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,525,590</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Hologic Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">68,954</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">66,720</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,496</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">ICU Medical Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">278,441</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">307,877</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Idorsia Ltd.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">100,534</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">93,484</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Illumina Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">97,768</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">94,642</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Incyte Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">472,034</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">462,715</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">46,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Indivior plc&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">28,408</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">100,086</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,900</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Inogen Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">327,545</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">449,673</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Intercept Pharmaceuticals</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Inc.&dagger;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">334,091</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">279,580</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Intersect ENT Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">83,519</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">119,630</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">185</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Intuitive Surgical Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">141,888</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">170,133</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
</DIV>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,200</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Ipsen SA</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">101,114</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">124,817</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">iRhythm Technologies Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">179,128</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">79,620</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">33,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Johnson &amp; Johnson</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,372,476</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,535,264</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Jounce Therapeutics Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">54,040</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">47,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">96,892</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Kindred Biosciences Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">449,992</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">888,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Koninklijke DSM NV</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">214,797</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">242,628</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Laboratory Corp. of America</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Holdings&dagger;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">39,919</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">55,170</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,569</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Lannett Co. Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">62,158</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">58,697</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,833</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Larimar Therapeutics Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">59,305</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">18,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">LeMaitre Vascular Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">92,260</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">122,040</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Luminex Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">71,115</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">110,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Mallinckrodt plc&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">149,520</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,045</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,750</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Marinus Pharmaceuticals</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Inc.&dagger;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">123,443</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">121,095</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Medpace Holdings Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">160,714</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">176,630</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">106,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Merck &amp; Co. Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,930,229</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,251,397</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Meridian Bioscience Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">50,499</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">44,360</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Moderna Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">76,660</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">117,490</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">NanoString Technologies</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Inc.&dagger;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">157,075</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">129,580</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Nektar Therapeutics&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">255,282</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">102,960</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">NeoGenomics Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">83,294</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">67,755</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">64,443</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Neuronetics Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">421,443</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,032,377</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,275</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Novartis AG</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">120,657</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">116,193</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">80,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Novartis AG, ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,165,987</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,299,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,900</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">NuVasive Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">396,622</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">535,462</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Odonate Therapeutics Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">58,733</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13,960</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">139,975</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Option Care Health Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,426,039</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,061,253</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,430</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Organon &amp; Co.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">207,415</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">194,572</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Orthofix Medical Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">207,373</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">200,550</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">PerkinElmer Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">71,621</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">77,205</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Perrigo Co. plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">85,395</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">91,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Personalis Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">65,834</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">55,660</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Puma Biotechnology Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">198,917</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">78,030</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">QIAGEN NV&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">74,706</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">72,570</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Quest Diagnostics Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">62,573</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">65,985</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Quidel Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,716,016</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,473,380</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Repligen Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">63,897</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">59,886</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">27,064</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">ReWalk Robotics Ltd.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">94,116</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">45,738</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,050</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Roche Holding AG,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Genusschein&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">360,372</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">395,544</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">26,121</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Rockwell Medical Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">78,547</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">23,773</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Sangamo Therapeutics</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Inc.&dagger;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">39,060</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">35,910</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Sanofi</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">205,102</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">220,023</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Sarepta Therapeutics Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">167,525</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">155,480</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,596</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Sio Gene Therapies Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">46,529</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,087</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">126,301</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">SmileDirectClub Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,056,445</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,096,293</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,615</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Tactile Systems Technology</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">211,066</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">291,980</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
</DIV>
<BR CLEAR="ALL">
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">See
accompanying notes to financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Schedule
of Investments (Continued) &mdash; June 30, 2021 (Unaudited)</B></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>
<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">COMMON
    STOCKS (Continued)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Health
    Care (Continued)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,000</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Takeda Pharmaceutical
    Co.</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Ltd.</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">183,733</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">167,379</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Teladoc Health Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">28,527</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,629</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Teva Pharmaceutical</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Industries Ltd., ADR&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">174,605</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">108,900</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Tristel plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">120,482</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">138,560</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">41,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">UnitedHealth Group Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,240,288</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,418,040</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,996</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Valeritas Holdings Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">56,778</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">240</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Vertex Pharmaceuticals</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">97,477</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">100,815</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Viatris Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">92,340</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">85,740</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,481</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Voyager Therapeutics Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">63,641</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">47,417</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Waters Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">285,470</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,382,440</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Zimmer Biomet Holdings</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,292,518</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,849,430</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">26,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Zoetis Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">888,327</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,845,360</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">21,297</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Zosano Pharma Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">87,283</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">20,234</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">71,676,047</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">119,574,609</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Consumer
    Products &mdash; 5.4%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Christian Dior SE</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">534,292</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,352,252</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">27,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Church &amp; Dwight Co. Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">468,406</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,300,940</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">219,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Edgewell Personal Care Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13,253,855</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,614,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">171,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Energizer Holdings Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,336,129</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,349,580</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">35,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Essity AB, Cl. B</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">541,915</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,177,236</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Givaudan SA</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">725,396</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,766,334</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">80,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Hanesbrands Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">719,339</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,493,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">23,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Harley-Davidson Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,105,662</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,090,516</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,270</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Hermes International</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">444,999</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,850,001</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,959</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Kimball International Inc.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Cl. B</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">104,750</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">104,661</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Mattel Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">348,023</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">502,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">National Presto Industries</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">501,782</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,016,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Oil-Dri Corp. of America</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">171,255</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">341,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">49,900</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Reckitt Benckiser Group plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,661,674</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,415,636</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,205</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Spectrum Brands Holdings</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">110,250</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">187,513</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">27,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Svenska Cellulosa AB SCA,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Cl. B</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">73,685</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">452,308</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,269,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Swedish Match AB</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,866,736</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">61,987,079</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The Estee Lauder</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Companies Inc., Cl. A</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">99,385</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">127,232</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The Honest Co. Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">84,876</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">80,950</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">295,567</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Topps Company Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000,005</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,314,488</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,280</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Unilever plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">250,170</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">250,468</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,916</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Zalando SE&dagger;(b)</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">398,080</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">473,394</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">43,800,664</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">119,249,088</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Diversified Industrial &mdash; 5.4%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">343,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Ampco-Pittsburgh Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,188,075</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,082,010</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
</DIV>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">39,006</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">AZZ Inc.</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,476,344</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,019,731</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">40,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Colfax Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,028,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,832,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">150,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Crane Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,168,936</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13,864,737</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">305,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">General Electric Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,165,673</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,105,300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">126,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Greif Inc., Cl. A</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,683,348</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,629,300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Greif Inc., Cl. B</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">727,946</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">708,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">68,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Griffon Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,272,202</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,742,840</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">156,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Honeywell International Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">20,783,122</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">34,218,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">29,119</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Ingersoll Rand Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">256,089</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,421,298</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">IntriCon Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">82,415</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">78,680</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">88,925</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">ITT Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,390,297</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,144,641</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">35,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Kennametal Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">891,874</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,257,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">50,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Myers Industries Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">818,952</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,050,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">30,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">nVent Electric plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">327,658</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">937,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">96,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Park-Ohio Holdings Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,291,066</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,111,152</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Proto Labs Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">114,996</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">110,160</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">30,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Rexnord Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">630,867</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,501,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Rheinmetall AG</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">277,330</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">296,319</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Roper Technologies Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">137,938</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">235,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,150</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Siemens AG</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">299,057</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">340,646</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">518,900</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Steel Partners Holdings LP&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,431,161</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,110,368</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Sulzer AG</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">649,576</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,657,498</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">46,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Textron Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,652,237</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,204,682</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">100,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Toray Industries Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">771,663</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">665,286</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">43,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Trane Technologies plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">995,117</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,918,020</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">20,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Tredegar Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">316,961</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">275,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">90,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Trinity Industries Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,492,760</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,420,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,000</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Vantage Towers AG&dagger;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">411,612</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">450,870</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">57,733,372</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">118,388,738</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Entertainment &mdash; 5.0%</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Activision Blizzard Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">81,325</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">76,352</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">20,658</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Charter Communications</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc., Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,180,680</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,903,714</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">34,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Discovery Inc., Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,107,999</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,043,120</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">235,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Discovery Inc., Cl.C&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,996,528</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,833,484</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">422,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Dover Motorsports Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">862,140</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">949,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Electronic Arts Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">254,219</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">287,660</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">90,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Genting Singapore Ltd.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">74,910</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">55,886</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">688,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Grupo Televisa SAB, ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,246,771</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,824,640</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">120,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Liberty Media Acquisition</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Corp.&dagger;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,200,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,270,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">46,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Liberty Media Corp.- Liberty</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Braves, Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,188,040</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,312,230</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">80,708</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Liberty Media Corp.- Liberty</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Braves, Cl.C&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,449,278</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,241,261</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">24,545</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Lions Gate Entertainment</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Corp., Cl.B&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">534,815</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">449,173</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Live Nation Entertainment</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">194,225</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">262,770</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">98,367</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Madison Square Garden</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Entertainment Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,676,444</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,259,877</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
</DIV>
<BR CLEAR="ALL">
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">See
accompanying notes to financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Schedule
of Investments (Continued) &mdash; June 30, 2021 (Unaudited)</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 6pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>
<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">COMMON STOCKS (Continued)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Entertainment (Continued)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">96,367</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Madison Square Garden</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Sports Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,320,051</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,630,053</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">570</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Netflix Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">299,153</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">301,080</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Rovio Entertainment Oyj(b)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">92,678</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">122,280</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,840</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Take-Two Interactive</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Software Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">960,626</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,564,857</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">40,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">TBS Holdings Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">796,181</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">614,249</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">91,740</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The Walt Disney Co.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,502,635</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,125,140</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Ubisoft Entertainment SA&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">223,224</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">168,016</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">60,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Universal Entertainment</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">763,928</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,330,753</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">371,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">ViacomCBS Inc., Cl. A</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,381,867</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">17,974,950</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">ViacomCBS Inc., Cl. B</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">200,544</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">226,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">242,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Vivendi SE</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,028,151</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,129,336</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,700</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Xilam Animation SA&dagger;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">98,540</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">84,663</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">70,714,952</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">111,041,844</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Business Services
    &mdash; 4.4%</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Allegion plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">300,446</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,532,300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Applus Services SA&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">100,715</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">88,913</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">425,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Clear Channel Outdoor</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Holdings Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">946,148</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,122,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">200,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Diebold Nixdorf Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,509,130</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,568,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Edenred</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">38,786</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">170,926</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">ICF International Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">162,656</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">175,720</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">IHS Markit Ltd.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">710,142</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">901,280</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Jardine Matheson Holdings</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Ltd.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">534,478</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,022,720</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Lamar Advertising Co., Cl.A,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">REIT</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">871,529</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,148,620</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">187,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Macquarie Infrastructure</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,462,812</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,175,625</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">167,580</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Mastercard Inc., Cl. A</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">26,223,186</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">61,181,782</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">80,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Network International</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Holdings plc&dagger;(b)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">308,827</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">404,698</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">150,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Resideo Technologies Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,865,607</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,500,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,220,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Steel Connect Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">762,256</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,440,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">220,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The Interpublic Group of</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Companies Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,844,771</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,147,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">United Parcel Service Inc.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Cl. B</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,008,688</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,079,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Viad Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">117,584</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">149,550</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13,960</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Visa Inc., Cl. A</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">387,074</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,264,127</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Willdan Group Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">289,846</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">263,480</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Worldline SA&dagger;(b)</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">181,490</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">187,206</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">46,626,171</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">97,524,447</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 2.5pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Machinery &mdash; 3.7%</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Astec Industries Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">856,157</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,573,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Caterpillar Inc.</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">86,323</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,785,664</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">323,610</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">CNH Industrial NV</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,578,910</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,410,759</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>


</DIV>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT;WIDTH:48%">
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: center"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">142,000</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Deere
    &amp; Co.(a)</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,175,689</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">50,084,820</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">188,000</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Xylem
    Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,976,427</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">22,552,480</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,673,506</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">82,407,223</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Automotive:
    Parts and Accessories &mdash; 3.6%</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Aptiv
    plc&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">556,397</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,337,305</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">89,600</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">BorgWarner
    Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,933,260</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,349,184</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">640</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Cummins
    Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">150,308</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">156,038</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">323,900</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Dana
    Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,129,707</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,695,864</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">26,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Garrett
    Motion Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">267,409</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">207,480</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">216,700</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Genuine
    Parts Co.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,113,374</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">27,406,049</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">300,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Modine
    Manufacturing Co.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,791,912</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,977,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">46,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">O&rsquo;Reilly
    Automotive Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13,579,737</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">26,328,765</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">105,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Standard
    Motor Products</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,181,521</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,551,750</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Strattec
    Security Corp.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">735,300</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">666,900</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">110,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Superior
    Industries</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">International
    Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">392,203</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">948,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Tenneco
    Inc., Cl.A&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">167,665</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">289,800</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">44,998,793</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">78,914,335</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Consumer Services &mdash; 3.3%</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">430</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Amazon.com
    Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,378,393</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,479,269</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Deutsche
    Post AG</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">101,199</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">136,029</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">eBay
    Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">266,292</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">772,310</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">HomeServe
    plc</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">103,233</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">92,522</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">45,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 2.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">IAC/InterActiveCorp.&dagger;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,229,128</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,937,650</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">142,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Liberty
    TripAdvisor Holdings</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.,
    Cl.A&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">726,777</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">577,940</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">50,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Matthews
    International</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Corp.,
    Cl. A</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,374,676</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,798,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">430,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Qurate
    Retail Inc., Cl. A</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,225,341</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,628,700</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,380,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Rollins
    Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">24,642,033</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">47,196,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">78,500</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Terminix
    Global Holdings</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Inc.&dagger;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,768,067</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,745,235</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Travel
    + Leisure Co.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">130,025</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">237,800</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,950</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Uber
    Technologies Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">227,518</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">197,974</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">83,000</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Vroom
    Inc.&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,992,535</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,474,380</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">40,165,217</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">72,273,809</FONT></TD><TD STYLE="padding-bottom: 1pt; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B">&nbsp;</TD>
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt">&nbsp;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: right">&nbsp;</TD><TD STYLE="font-size: 11pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Cable
    and Satellite &mdash; 2.8%</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">30,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Altice
    USA Inc., Cl.A&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">829,592</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,024,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">66,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">AMC
    Networks Inc., Cl.A&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,360,621</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,408,800</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Cable
    One Inc.</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">77,334</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">382,562</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">223,980</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Comcast
    Corp., Cl. A</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,440,071</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,771,340</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">68,642</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">DISH
    Network Corp., Cl.A&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,916,124</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,869,236</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">95,433</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">EchoStar
    Corp., Cl.A&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,275,606</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,318,067</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">145,605</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Liberty
    Global plc, Cl.A&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,504,125</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,954,632</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">239,064</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Liberty
    Global plc, Cl.C&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,251,611</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,464,290</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">57,987</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Liberty
    Latin America Ltd.,</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Cl.A&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">856,886</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">803,700</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">71,664</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Liberty
    Latin America Ltd.,</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 11pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Cl.C&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,253,203</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,010,462</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>


</DIV>
<BR CLEAR="ALL">
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">See
accompanying notes to financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Schedule
of Investments (Continued) &mdash; June 30, 2021 (Unaudited)</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 6pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>
<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">COMMON STOCKS
    (Continued)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Cable and
    Satellite (Continued)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,000</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Naspers Ltd., Cl.N</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">899,818</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">839,829</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">377,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Rogers Communications</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc., Cl. B</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,068,817</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">20,076,292</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">158,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Shaw Communications Inc.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-bottom: 1pt; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Cl. B</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">403,311</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,569,360</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">39,137,119</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">61,492,770</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Energy and
    Utilities &mdash; 2.8%</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">33,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">APA Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,244,240</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">713,790</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Atlantica Sustainable</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Infrastructure plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">172,286</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">186,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">60,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Avangrid Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,541,835</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,085,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">22,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">BP plc, ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">923,206</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">594,450</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">CMS Energy Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">95,699</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">945,280</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">162,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">ConocoPhillips</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,398,813</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,865,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Electricite de France SA</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">149,991</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">132,501</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">98,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Enbridge Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,488,608</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,939,936</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">51,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Energy Transfer LP</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">666,669</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">542,130</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">68,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Enterprise Products</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Partners LP</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,338,060</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,657,731</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Eos Energy Enterprises</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">36,629</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">26,940</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">48,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Evergy Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,754,877</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,900,640</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">40,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Eversource Energy</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,202,641</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,209,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">46,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Exxon Mobil Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,083,107</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,901,680</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">234,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Halliburton Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,156,310</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,410,080</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">65,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Kinder Morgan Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">774,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,184,950</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Marathon Oil Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">111,366</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">54,480</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Marathon Petroleum Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">402,325</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">483,360</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">43,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">National Fuel Gas Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,349,038</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,246,750</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">48,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">NextEra Energy Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">783,959</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,517,440</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">62,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">NextEra Energy Partners LP</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,144,362</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,772,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Niko Resources Ltd.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Toronto&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">55,327</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Occidental Petroleum Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">150,453</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">312,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">95,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Oceaneering International</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,319,297</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,479,150</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">95,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">PG&amp;E Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">881,071</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">966,150</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">21,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Phillips 66</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,833,947</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,802,220</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">PNM Resources Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">342,859</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">365,775</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">75,180</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">RPC Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">569,529</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">372,141</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">40,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Schlumberger NV</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,562,927</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,280,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">30,770</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Southwest Gas Holdings</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,288,738</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,036,666</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">100,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The AES Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,136,430</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,607,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,280</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">TotalEnergies SE</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">99,926</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">103,152</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">34,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">UGI Corp.</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,299,380</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,574,540</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">47,358,505</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">61,271,841</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 2.5pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Electronics &mdash; 2.5%</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">ams AG&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">149,689</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">128,380</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
</DIV>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">41,591</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Bel Fuse Inc., Cl. A</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">543,364</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">595,583</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">EXFO Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">69,690</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">59,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">65,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Flex Ltd.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,168,304</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,161,550</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Hitachi Ltd., ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">287,076</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">458,160</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">56,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Intel Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,640,101</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,171,910</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">390</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">KLA Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">99,179</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">126,442</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">33,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Koninklijke Philips NV</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">177,838</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,640,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Mettler-Toledo International</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">210,146</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,939,476</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Plug Power Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">665,701</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">854,750</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">70</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Roku Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">30,894</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">32,148</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Sony Group Corp., ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,159,369</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,555,520</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">40,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">TE Connectivity Ltd.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,721,146</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,408,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">190,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Texas Instruments Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,386,721</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">36,537,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">620</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Thermo Fisher Scientific</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">293,219</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">312,771</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Universal Display Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">39,001</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">44,466</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Vishay Precision Group</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">200,408</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">204,240</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">22,841,846</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">54,230,396</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 2.5pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Broadcasting &mdash; 2.4%</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Cogeco Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">39,014</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">155,115</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">24,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Corus Entertainment Inc.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">OTC, Cl. B</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">42,622</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">123,528</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">138,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Fox Corp., Cl. A</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,750,520</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,138,792</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">54,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Fox Corp., Cl. B</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,235,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,900,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Gray Television Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,422</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">374,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">19,250</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Liberty Broadband Corp.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Cl.A&dagger;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">608,060</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,237,272</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">88,172</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Liberty Broadband Corp.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Cl.C&dagger;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,709,887</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,311,950</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">48,333</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Liberty Media Corp.- Liberty</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Formula One, Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,455,986</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,060,436</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">48,250</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Liberty Media Corp.- Liberty</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Formula One, Cl.C&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,188,712</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,326,132</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">55,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Liberty Media Corp.- Liberty</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">SiriusXM, Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,482,902</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,561,900</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">183,449</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Liberty Media Corp.- Liberty</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">SiriusXM, Cl.C&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,979,604</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,510,199</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">267,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">MSG Networks Inc., Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,660,368</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,901,608</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">19,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Nexstar Media Group Inc.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Cl. A</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,285,048</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,809,720</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">83,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Sinclair Broadcast Group</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc., Cl. A</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,506,275</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,757,260</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">50,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">TEGNA Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">817,601</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">938,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">80,000</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Television
    Broadcasts Ltd.&dagger;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">319,851</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">76,246</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">30,096,472</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">52,183,358</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 2.5pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Retail &mdash; 2.3%</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">60,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">AutoNation Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,690,025</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,688,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Casey&rsquo;s General Stores Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">531,212</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">973,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">37,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Costco Wholesale Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,133,021</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,718,924</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
</DIV>
<BR CLEAR="ALL">
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">See
accompanying notes to financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Schedule
of Investments (Continued) &mdash; June 30, 2021 (Unaudited)</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 6pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>
<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">COMMON
    STOCKS (Continued)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Retail (Continued)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">100,500</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">CVS Health Corp.</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,184,217</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,385,720</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Dollar Tree Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">205,040</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">199,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">23,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Lowe&rsquo;s Companies Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,338,023</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,461,310</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">125,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Macy&rsquo;s Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,153,689</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,370,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Movado Group Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">168,058</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">503,520</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">NIKE Inc., Cl. B</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">244,816</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">278,082</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">31,228</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">PetIQ Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">832,775</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,205,401</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">35,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Sally Beauty Holdings Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">312,896</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">772,450</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Shake Shack Inc., Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">565,026</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,220,028</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">125,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The Wendy&rsquo;s Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,688,689</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,927,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">52,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Walgreens Boots Alliance</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,969,498</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,735,720</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">30,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Walmart
    Inc.</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,519,821</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,230,600</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">29,536,806</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">50,670,055</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Specialty
    Chemicals &mdash; 2.1%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">AdvanSix Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">134,544</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">328,460</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Covestro AG(b)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">102,462</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">103,322</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">137,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">DuPont de Nemours Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,446,099</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,605,170</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">423,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Ferro Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,438,785</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,134,895</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">FMC Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">590,444</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,406,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">140,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">GCP Applied Technologies</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,112,387</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,256,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">H.B. Fuller Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">626,362</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">954,150</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">63,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">International Flavors &amp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Fragrances Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,444,144</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,486,900</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Johnson Matthey plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">100,869</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">119,025</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">450</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Linde plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">119,948</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">130,095</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">124,900</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Sensient Technologies</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,892,703</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,811,344</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">SGL Carbon SE&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">60,439</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">124,705</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The Chemours Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">22,594</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">69,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">780</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">The Sherwin-Williams
    Co.</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">194,877</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">212,511</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">28,286,657</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">46,743,177</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Environmental
    Services &mdash; 2.0%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">47,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Biffa plc&dagger;(b)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">149,146</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">211,299</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">30,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Pentair plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">699,891</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,024,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">229,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Republic Services Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,175,372</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,192,290</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Veolia Environnement SA</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">403,415</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">501,338</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">117,100</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Waste Management
    Inc.</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,139,261</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,406,881</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,567,085</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">44,336,508</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Computer
    Software and Services &mdash; 2.0%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">650</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Adobe Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">309,368</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">380,666</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Alibaba Group Holding Ltd.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">ADR&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">108,241</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">113,390</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">150</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Alphabet Inc., Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">262,351</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">366,268</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,330</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Alphabet Inc., Cl.C&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,293,396</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,865,006</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Atos SE</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">200,051</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">133,824</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Avast plc(b)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">101,549</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">94,856</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
</DIV>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,200</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Blue Prism Group
    plc&dagger;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">101,678</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">58,264</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Capgemini SE</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">146,394</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">192,091</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Check Point Software</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Technologies Ltd.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">650,885</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,045,170</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,250</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Cloudflare Inc., Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">171,253</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">238,140</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">940</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">CrowdStrike Holdings Inc.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Cl.A&dagger;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">147,572</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">236,231</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,080</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Dassault Systemes SE&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">203,455</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">261,885</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,305</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Facebook Inc., Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,858,572</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,321,701</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">FactSet Research Systems</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Inc.&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">99,651</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">100,683</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Fidelity National Information</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Services Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">268,449</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">255,006</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">FireEye Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">203,925</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">303,300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13,820</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Fiserv Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">822,753</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,477,220</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">70,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">GTY Technology Holdings</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">398,411</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">497,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">90,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Hewlett Packard Enterprise</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,282,160</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,312,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">I3 Verticals Inc., Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">152,355</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">151,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Match Group Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">116,458</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">322,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Micron Technology Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">227,355</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">254,940</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,850</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Microsoft Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,272,706</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,584,765</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">MKS Instruments Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">297,450</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">355,900</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">NCR Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">73,978</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">68,415</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">NortonLifeLock Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">99,596</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">136,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">550</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">NVIDIA Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">294,346</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">440,055</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">140,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Oxford Metrics plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">173,766</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">208,187</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Proofpoint Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">172,895</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">173,760</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">PSI Software AG</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">156,151</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">187,254</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Qualtrics International Inc.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Cl.A&dagger;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,137</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,650</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">18,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Rockwell Automation Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">663,071</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,291,370</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">salesforce.com Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">154,875</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">170,989</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">SAP SE, ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">231,651</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">252,828</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">640</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">ServiceNow Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">341,670</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">351,712</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">585</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Snowflake Inc., Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">175,646</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">141,453</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">47,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">SolarWinds Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">765,648</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">793,830</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,900</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Tailwind Acquisition Corp.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Cl.A&dagger;&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">49,147</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">48,853</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Temenos AG</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">174,579</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">208,787</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Unity Software Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">184,459</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">219,660</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Veeva Systems Inc., Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">107,315</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">124,380</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">64,069</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Vimeo Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">528,017</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,139,381</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">VMware Inc., Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">66,015</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">79,985</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Zoom Video</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Communications Inc.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">41,365</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">38,703</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">24,157,765</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">43,006,158</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Telecommunications
    &mdash; 1.9%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">55,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">AT&amp;T Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,830,573</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,582,900</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
</DIV>
<BR CLEAR="ALL">
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">See
accompanying notes to financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Schedule
of Investments (Continued) &mdash; June 30, 2021 (Unaudited)</B></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>
<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="9" STYLE="color: #12100B; font-weight: bold; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">COMMON STOCKS (Continued)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Telecommunications
    (Continued)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">55,400</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">BCE Inc.</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,851,178</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,732,328</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">924,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">BT Group plc, Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,750,687</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,480,185</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,040,836</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Cable &amp; Wireless Jamaica</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Ltd.&dagger;(c)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">128,658</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">54,529</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">30,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Cincinnati Bell Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">389,523</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">462,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Comtech</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Telecommunications</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">193,934</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">193,280</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">29,180</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Deutsche Telekom AG</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">531,230</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">616,299</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">125,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Deutsche Telekom AG, ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,029,152</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,657,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">36,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Hellenic</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Telecommunications</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Organization SA</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">452,922</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">604,021</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Hellenic</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Telecommunications</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Organization SA, ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">91,062</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">130,350</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">264,732</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Koninklijke KPN NV</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">448,166</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">826,828</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">70,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Loral Space &amp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Communications Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,453,726</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,719,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">72,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Lumen Technologies Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">686,003</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">985,275</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,100,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">NII Holdings Inc.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Escrow&dagger;(c)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,475,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,387,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Oi SA, ADR&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,333</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,632</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,267</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Oi SA, Cl.C&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">118,940</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,358</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">21,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Telecom Argentina SA, ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">127,554</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">111,720</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">535,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Telecom Italia SpA</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,073,015</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">265,740</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">70,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Telefonica Brasil SA, ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">726,827</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">595,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">413,739</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Telefonica SA, ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,105,254</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,944,573</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">525,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Telephone and Data</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Systems Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">21,956,116</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,896,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">105,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Telesites SAB de CV&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">79,714</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">97,289</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">50,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">TELUS Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">233,734</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,121,329</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">46,075</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">TIM SA, ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">352,294</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">530,784</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">76,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">VEON Ltd., ADR&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">133,023</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">139,080</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">98,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Verizon Communications</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,220,502</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,490,940</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">174,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Vodafone Group plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">300,315</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">292,058</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">75,800</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Vodafone
    Group plc, ADR</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,333,931</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,298,454</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">54,079,366</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">42,229,052</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Building and Construction &mdash;</FONT> <FONT STYLE="font-size: 8pt">1.8</FONT><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">27,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Arcosa Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">476,033</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,585,980</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">18,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Assa Abloy AB, Cl. B</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">310,378</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">542,223</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Canfor Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">130,259</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">125,831</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Cie de Saint-Gobain</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">188,831</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">263,426</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">70,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Fortune Brands Home &amp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Security Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,217,346</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,972,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">22,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Gencor Industries Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">256,740</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">267,520</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">84,448</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Herc Holdings Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,646,019</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,464,088</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">35,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Ibstock plc(b)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">100,002</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">103,909</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
</DIV>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">215,814</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Johnson Controls</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">International plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,457,010</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,811,315</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">17,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">KBR Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">557,869</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">656,180</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">20,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">PGT Innovations Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">286,174</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">464,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Sika AG</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,556,815</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,923,264</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Vulcan Materials
    Co.</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">484,932</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">522,210</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">18,668,408</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">39,703,246</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Aerospace
    and Defense &mdash; 1.7%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">174,300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Aerojet Rocketdyne</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Holdings Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,645,995</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,416,947</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Airbus SE&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">151,220</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">180,016</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">15,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Avio SpA</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">207,838</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">221,261</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">22,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">BAE Systems plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">150,576</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">158,858</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Howmet Aerospace Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">223,451</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">482,580</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">IQVIA Holdings Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">75,816</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">96,928</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">38,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Kaman Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,201,223</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,940,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Kratos Defense &amp; Security</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Solutions Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">19,681</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">28,490</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">L3Harris Technologies Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,138,805</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,809,950</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">17,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Northrop Grumman Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,151,104</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,360,025</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Raytheon Technologies</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">345,126</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">511,860</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,015,666</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Rolls-Royce Holdings plc&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,297,320</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,494,878</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Thales SA</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">233,021</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">255,055</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">41,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The Boeing
    Co.&dagger;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,344,885</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,821,960</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">29,186,061</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">36,779,208</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Hotels
    and Gaming &mdash; 1.7%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">73,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">888 Holdings plc</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">286,456</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">390,219</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Accor SA&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">549,282</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">597,428</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Bally&rsquo;s Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">162,019</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">162,330</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Better Collective A/S&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">119,893</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">166,042</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">113,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Entain plc&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,746,018</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,740,514</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Frontier Developments plc&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">90,374</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">63,909</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">41,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">GAN Ltd.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">845,875</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">685,548</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Genius Sports Ltd.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">410,823</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">469,250</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Hyatt Hotels Corp., Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">263,258</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">621,120</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">18,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Las Vegas Sands Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">564,359</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">948,420</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">93,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">LeoVegas AB(b)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">450,860</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">412,942</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,408,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Mandarin Oriental</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">International Ltd.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,732,242</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,817,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Marriott International Inc.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Cl.A&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,065,714</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,774,760</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">70,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">MGM China Holdings Ltd.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">137,917</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">106,024</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">54,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">MGM Growth Properties</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">LLC, Cl.A, REIT</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,038,290</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,992,128</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">81,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">MGM Resorts International</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,211,826</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,454,650</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Penn National Gaming Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">208,926</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">558,377</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">20,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">PlayAGS Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">131,499</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">198,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">127,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Ryman Hospitality</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Properties Inc., REIT&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,953,705</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,091,088</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
</DIV>
<BR CLEAR="ALL">
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">See
accompanying notes to financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Schedule
of Investments (Continued) &mdash; June 30, 2021 (Unaudited)</B></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>
<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">COMMON
    STOCKS (Continued)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Hotels
    and Gaming (Continued)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">200,000</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">The Hongkong &amp;
    Shanghai</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Hotels Ltd.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">155,450</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">210,450</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">44,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">The Marcus Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">718,018</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">933,240</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Wyndham Hotels &amp; Resorts</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">152,872</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">289,160</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,000</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Wynn Resorts
    Ltd.&dagger;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">469,634</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">733,800</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">24,465,310</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">36,416,399</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt"><B>Real Estate &mdash; 0.9%</B></FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Bresler &amp; Reiner Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">162</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">560</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,267</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Gaming and Leisure Properties Inc., REIT</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">57,775</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Indus Realty Trust Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">653,941</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,792,929</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">23,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Rayonier Inc., REIT</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">361,733</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">826,390</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">320,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">The St. Joe Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,253,758</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">14,275,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,000</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Weyerhaeuser
    Co., REIT</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">264,116</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">344,200</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,702,363</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">19,714,949</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Aviation:
    Parts and Services &mdash; 0.9%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Astronics Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">162,540</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">210,120</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">161,800</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Curtiss-Wright
    Corp.</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,768,363</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">19,215,368</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,930,903</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">19,425,488</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Metals
    and Mining &mdash; 0.9%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">37,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Agnico Eagle Mines Ltd.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,530,570</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,260,830</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">50,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Barrick Gold Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,464,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,034,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">30,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Cleveland-Cliffs Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">296,432</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">646,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">111,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Freeport-McMoRan Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,805,326</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,119,210</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Kirkland Lake Gold Ltd.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">123,094</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">115,590</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">20,253</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Livent Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">129,680</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">392,098</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Materion Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">97,512</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">324,005</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">50,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">New Hope Corp. Ltd.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">67,580</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">64,871</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">142,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Newmont Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,175,408</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,999,960</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">62,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">TimkenSteel Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">819,664</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">877,300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,000</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Vale SA,
    ADR</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">81,899</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">228,100</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,591,165</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">19,062,764</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Automotive &mdash; 0.8%</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Daimler AG</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">136,782</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">178,574</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">106,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">General Motors Co.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,047,980</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,272,020</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">80,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Navistar International</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,353,732</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,560,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">70,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">PACCAR Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,455,874</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,247,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">20,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Stellantis NV</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">238,306</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">394,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">The Shyft Group Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">150,218</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">299,280</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,800</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Toyota Motor Corp., ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">245,708</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">314,712</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">30,000</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Traton SE</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">854,275</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">951,209</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,482,875</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">18,217,495</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Communications Equipment &mdash; 0.6%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,150</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Apple Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,447,436</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,211,904</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Arista Networks Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">272,055</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">362,310</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
</DIV>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">228,000</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Corning Inc.</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,346,477</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,325,200</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">70,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Limelight Networks Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">226,862</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">220,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Motorola Solutions Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">211,146</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">260,220</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,490</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">QUALCOMM Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">483,288</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">498,826</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Telefonaktiebolaget LM</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Ericsson,
    Cl. B</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">151,275</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">157,102</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,138,539</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13,036,062</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Agriculture &mdash; 0.6%</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">196,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Archer-Daniels-Midland Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,054,791</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,877,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">The Mosaic Co.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">428,085</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">319,100</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,482,876</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">12,196,700</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Wireless
    Communications &mdash; 0.5%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">105,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">America Movil SAB de CV,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Cl.L, ADR</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">735,232</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,575,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Anterix Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">103,876</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">179,970</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">60,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Millicom International</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Cellular SA, SDR&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,780,635</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,375,293</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,907</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">T-Mobile US Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,172,644</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,752,111</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">105,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">United States Cellular</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,992,206</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,827,074</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,784,593</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,709,448</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Transportation &mdash; 0.5%</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">45</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">AP Moller - Maersk A/S,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Cl. B</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">101,480</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">129,340</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">130,200</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">GATX Corp.</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,720,299</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,518,794</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,821,779</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,648,134</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 0.125in; text-indent: -0.125in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Publishing &mdash; 0.4%</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,400</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Graham Holdings Co., Cl. B</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">698,214</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">887,460</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">52,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Meredith Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,810,509</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,258,880</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">105,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">News Corp., Cl. A</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,640,478</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,705,850</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">90,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">News Corp., Cl. B</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,210,037</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,206,110</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">70,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">The E.W.
    Scripps Co., Cl. A</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">831,325</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,427,300</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,190,563</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,485,600</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Manufactured
    Housing and Recreational Vehicles &mdash; 0.3%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,150</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Cavco Industries Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">391,198</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">477,708</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,514</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Legacy Housing Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">171,124</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">194,702</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Martin Marietta Materials</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">106,125</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,759,050</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">33,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Nobility Homes Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">438,863</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,209,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">42,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Skyline
    Champion Corp.&dagger;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">256,482</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,238,600</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,363,792</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">5,879,660</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Semiconductors &mdash; 0.1%</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,500</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Advanced Micro Devices</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Inc.&dagger;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">377,448</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">422,685</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Analog Devices Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">144,587</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">172,160</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,180</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Applied Materials Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">98,513</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">168,032</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">230</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">ASML Holding NV</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">102,630</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">158,893</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,200</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Axcelis Technologies Inc.&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">46,181</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">48,504</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">220</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 0.125in; text-indent: -0.125in"><FONT STYLE="font-size: 8pt">Lam Research Corp.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">102,300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">143,154</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
</DIV>
<BR CLEAR="ALL">
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">See
accompanying notes to financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Schedule
of Investments (Continued) &mdash; June 30, 2021 (Unaudited)</B></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>
<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">Market</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Cost</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Value</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">COMMON
    STOCKS (Continued)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Semiconductors
    (Continued)</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,000</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 46%; color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">NXP Semiconductors
    NV</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">187,813</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">205,720</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Taiwan Semiconductor</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Manufacturing Co. Ltd.,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-left: 11pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">ADR</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">350,900</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">360,480</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,410,372</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,679,628</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Computer
    Hardware &mdash; 0.0%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,500</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">HP Inc.</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">71,025</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">75,475</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">TOTAL
    COMMON STOCKS</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,159,979,043</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,140,997,216</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">CLOSED-END
    FUNDS &mdash; 0.5%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">245,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Altaba Inc., Escrow&dagger;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,888,900</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,564,750</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,285</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Royce Global Value Trust</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Inc.&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">37,280</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">64,189</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">45,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Royce Value Trust Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">598,747</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">853,650</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">96,964</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The Central Europe, Russia,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt"><FONT STYLE="font-size: 8pt">and Turkey Fund Inc.</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,782,980</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,720,810</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">159,600</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">The New Germany Fund</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; padding-bottom: 1pt; padding-left: 11pt"><FONT STYLE="font-size: 8pt">Inc.</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,162,135</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,227,910</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,470,042</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,431,309</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 0in"><FONT STYLE="font-size: 8pt">TOTAL CLOSED-END</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt; padding-left: 10pt"><FONT STYLE="font-size: 8pt">FUNDS</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,470,042</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,431,309</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-left: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">PREFERRED
    STOCKS &mdash; 0.0%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Consumer
    Services &mdash; 0.0%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,750</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Qurate Retail Inc., 8.000%,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-left: 0.125in; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">03/15/31&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">662,580</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">730,688</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Automotive:
    Parts and Accessories &mdash; 0.0%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,672</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Garrett
    Motion Inc., Ser.A</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">61,278</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">100,379</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">TOTAL PREFERRED</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 10pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>STOCKS
</B>&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">723,858</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">831,067</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; padding-left: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">CONVERTIBLE
    PREFERRED STOCKS &mdash; 0.1%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Telecommunications
    &mdash; 0.1%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">21,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Cincinnati Bell Inc., Ser.B,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">6.750%&nbsp;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">320,295</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,050,210</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Automotive:
    Parts and Accessories &mdash; 0.0%</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">26,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">Garrett Motion Inc., Ser.A,</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #1D1D1B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #1D1D1B; text-align: left; padding-left: 11pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">11.000%</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">136,500</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">223,600</FONT></TD><TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 2.5pt"><FONT STYLE="font-size: 8pt">TOTAL CONVERTIBLE</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 10pt"><FONT STYLE="font-size: 8pt">PREFERRED
    STOCKS</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">456,795</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,273,810</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

</DIV>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT;WIDTH:48%">

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Market</B></FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Shares</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Cost</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Value</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>RIGHTS
    &mdash; 0.0%</B></FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Entertainment
    &mdash; 0.0%</B></FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">139,123</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Media
    General Inc.,</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 15%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 0.125in; width: 46%; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">CVR&dagger;(c)&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">$
    </FONT></TD>
    <TD STYLE="width: 15%; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">0</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">$
    </FONT></TD>
    <TD STYLE="width: 15%; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">0</FONT></TD>
    <TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-left: 2.5pt">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>WARRANTS
    &mdash; 0.0%</B></FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Diversified
    Industrial &mdash; 0.0%</B></FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">379,000</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Ampco-Pittsburgh
    Corp.,</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">expire
    08/01/25&dagger;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">258,897</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">341,100</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Energy
    and Utilities &mdash; 0.0%</B></FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">2,504</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Occidental
    Petroleum Corp.,</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 11pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">expire
    08/03/27&dagger;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #12100B 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #12100B 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">12,395</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #12100B 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #12100B 1pt solid; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">34,831</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-left: 2.5pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>TOTAL
    WARRANTS </B></FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">271,292
    </FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">375,931</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>


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<P STYLE="margin-top: 0; margin-bottom: 0"></P>



<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Principal</B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Amount</B></FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: #12100B"><B>CONVERTIBLE CORPORATE BONDS &mdash; 0.0%</B></FONT> <FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: #12100B"><B>Financial Services &mdash; 0.0%</B></FONT> </TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">$</FONT></TD>
    <TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">7,000</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; width: 46%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Credit
    Suisse Group</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; width: 15%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; width: 15%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">Guernsey
    VII Ltd.,</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">3.000%,
    11/12/21(b)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">7,702</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">8,519</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: left; padding-left: 0.125in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="8" STYLE="text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: #12100B"><B>U.S. GOVERNMENT OBLIGATIONS &mdash; 2.0%</B></FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">44,064,000</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">U.S.
    Treasury Bills,</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">0.003%
    to 0.045% &dagger;&dagger;,</FONT></TD>
    <TD></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B">07/08/21
    to 11/18/21</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">44,059,224</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">44,058,062</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="padding-bottom: 2pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: #12100B"><B>TOTAL INVESTMENTS &mdash; 100.0%</B></FONT></TD>
    <TD STYLE="padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">1,212,967,956</FONT></TD>
    <TD STYLE="padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 2pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">2,197,975,914</FONT></TD>
    <TD STYLE="padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="8"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: #12100B"><B>Other Assets and Liabilities (Net)</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">2,326,808</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="8">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="8"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: #12100B"><B>PREFERRED STOCK</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="8" STYLE="padding-left: 0.125in; padding-bottom: 1pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: #12100B">(14,149,094 preferred shares outstanding)</FONT></TD>
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">(443,637,350</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="8" STYLE="padding-left: 0.125in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="8"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: #12100B"><B>NET ASSETS &mdash; COMMON STOCK</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="8" STYLE="padding-left: 0.125in; padding-bottom: 2pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: #12100B">(263,511,620 common shares outstanding)</FONT></TD>
    <TD STYLE="padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,756,665,372</FONT></TD>
    <TD STYLE="padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="8" STYLE="padding-left: 0.125in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="8"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>NET ASSET VALUE PER COMMON SHARE</B></FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="8" STYLE="padding-left: 0.125in; padding-bottom: 2pt"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: #12100B">($1,756,665,372 &divide; 263,511,620 shares outstanding)</FONT></TD>
    <TD STYLE="padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">$</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">6.67</FONT></TD>
    <TD STYLE="padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>


<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>



<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

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<P STYLE="margin-top: 0; margin-bottom: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Securities,
                                         or a portion thereof, with a value of $82,425,400 were pledged as collateral for futures
                                         contracts.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Securities
                                         exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These
                                         securities may be resold in transactions exempt from registration, normally to qualified
                                         institutional buyers.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.5pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Security
                                         is valued using significant unobservable inputs and is classified as Level 3 in the fair
                                         value hierarchy.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&dagger;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Non-income
                                         producing security.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.5pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&dagger;&dagger;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Represents
                                         annualized yields at dates of purchase.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.5pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">ADR</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">American
                                         Depositary Receipt</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.5pt; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">CVR</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Contingent
                                         Value Right</FONT></TD>
</TR></TABLE>
</DIV>
<BR CLEAR="ALL">
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.5pt; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">See
accompanying notes to financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Schedule
of Investments (Continued) &mdash; June 30, 2021 (Unaudited)</B></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>
<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:48%">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; margin-top: 0; margin-bottom: 0; width: 100%">
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="width: 0.5in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(18,16,11)">REIT&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(18,16,11)">Real
    Estate Investment Trust</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(18,16,11)">SDR&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(18,16,11)">Swedish
    Depositary Receipt</FONT></TD></TR>
</TABLE>
</DIV>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT;WIDTH:48%">
<P STYLE="margin-top: 0; margin-bottom: 0"></P>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 8pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; text-align: center">% of Total</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; text-align: center">Market</TD><TD STYLE="color: #12100B; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid">Geographic Diversification</TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Investments</TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold">&nbsp;</TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Value</TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 63%; color: #12100B; text-align: left">North America</TD><TD STYLE="width: 1%; color: #12100B">&nbsp;</TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="width: 15%; color: #12100B; text-align: right">82.4</TD><TD STYLE="width: 1%; color: #12100B; text-align: left">%</TD><TD STYLE="width: 2%; color: #12100B">&nbsp;</TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left">$</TD><TD STYLE="width: 15%; color: #12100B; text-align: right">1,811,636,629</TD><TD STYLE="width: 1%; color: #12100B; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B">Europe</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">14.5</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">317,440,496</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B">Japan</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">1.5</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">31,478,793</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left">Latin America</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">1.1</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">25,124,877</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B">Asia/Pacific</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">0.5</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">11,455,290</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">South Africa</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">0.0</TD><TD STYLE="color: #12100B; text-align: left">*</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">839,829</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 2pt">Total Investments</TD><TD STYLE="color: #1D1D1B; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: #1D1D1B; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 2.5pt double; color: #1D1D1B; text-align: right">100.0</TD><TD STYLE="padding-bottom: 2pt; color: #1D1D1B; text-align: left">%</TD><TD STYLE="color: #1D1D1B; padding-bottom: 2pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: #1D1D1B; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; color: #1D1D1B; text-align: right">2,197,975,914</TD><TD STYLE="padding-bottom: 2pt; color: #1D1D1B; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(18,16,11)">*</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(18,16,11)">Amount
                                         represents less than 0.05%.</FONT></TD>
</TR></TABLE>
</DIV>
<BR CLEAR="ALL">

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>


<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">As
of June 30, 2021, futures contracts outstanding were as follows:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Number
    of</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Expiration</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Notional</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Unrealized</B></FONT></TD>
    </TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Description</B></FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Long/Short</B></FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Contracts</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Date</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Amount</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Value</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Depreciation</B></FONT></TD>
    </TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="border-top: #12100B 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">S&amp;P
    500 Futures (E-Mini)</FONT></TD>
    <TD STYLE="border-top: #12100B 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Short</FONT></TD>
    <TD STYLE="border-top: #12100B 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">65</FONT></TD>
    <TD STYLE="border-top: #12100B 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">09/17/21</FONT></TD>
    <TD STYLE="border-top: #12100B 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">$13,937,950</FONT></TD>
    <TD STYLE="border-top: #12100B 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">$(348,625)</FONT></TD>
    <TD STYLE="border-top: #12100B 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><U>$(348,625)</U></FONT></TD>
    </TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="width: 35%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>TOTAL
    FUTURES</B></FONT></TD>
    <TD STYLE="width: 11%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 12%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 10%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 12%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 8pt; color: Black; border-bottom-style: solid; border-bottom-width: 1pt"><U>$(348,625)</U></FONT></TD>
    </TR>
<TR STYLE="font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    </TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">See
accompanying notes to financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 1pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 14; Value: 2 -->
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>
<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:48%">
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Statement of Assets and
    Liabilities</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; border-bottom: Black 4pt solid; padding-bottom: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>June 30, 2021 (Unaudited)</B></FONT></TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Assets:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 82%; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Investments
    in securities, at value (cost&nbsp;&nbsp;$1,212,967,956)</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 8pt">2,197,975,914</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Foreign currency, at
    value (cost $11,764)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">11,719</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Deposit at brokers</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">786,500</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Receivable for investments
    in securities sold</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">1,492,846</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Dividends and interest
receivable</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,935,456</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Deferred offering expense</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">100,530</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Prepaid
    expenses</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">18,532</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Total
    Assets</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">2,203,321,497</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Liabilities:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Payable to bank</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">6,521</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Distributions payable</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">251,458</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Payable for investment
    securities purchased</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">91,937</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Payable for investment
    advisory fees</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,195,312</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Payable for payroll
    expenses</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">22,704</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Payable for accounting
    fees</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">3,750</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Variation margin payable</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">21,450</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Other
    accrued expenses</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">425,643</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Total
    Liabilities</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">3,018,775</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Cumulative Preferred
    Stock, $0.001 par value:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Series C (Auction Rate,
    $25,000 liquidation value, 4,812 shares authorized with 2,492 shares issued&nbsp;&nbsp;and outstanding)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">62,300,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Series E (Auction Rate,
    $25,000 liquidation value, 1,888 shares authorized with 1,108 shares issued and outstanding)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">27,700,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Series G (5.000%, $25
    liquidation value, 3,280,302 shares authorized with 2,779,621 shares issued and outstanding)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">69,490,525</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Series H (5.000%, $25
    liquidation value, 4,198,880 shares authorized with 4,172,873 shares issued and outstanding)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">104,321,825</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Series J (5.450%, $25
    liquidation value, 4,500,000 shares authorized with 3,200,000 shares issued and outstanding)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">80,000,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Series
    K (5.000%, $25 liquidation value, 3,993,000 shares authorized with 3,993,000 shares issued and outstanding)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">99,825,000</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Total
    Preferred Stock</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">443,637,350</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Net
    Assets Attributable to Common Stockholders</FONT></TD><TD STYLE="padding-bottom: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">1,756,665,372</FONT></TD><TD STYLE="padding-bottom: 2pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Net
    Assets Attributable to Common Stockholders Consist of:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Paid-in capital</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">777,646,643</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Total
    distributable earnings</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">979,018,729</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Net
    Assets</FONT></TD><TD STYLE="padding-bottom: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">1,756,665,372</FONT></TD><TD STYLE="padding-bottom: 2pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Net Asset Value per
    Common Share:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">($1,756,665,372
    &divide; 263,511,620 shares outstanding at $0.001 par value; unlimited number of shares authorized)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">6.67</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

</DIV>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT;WIDTH:48%">
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Statement of Operations</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; border-bottom: Black 4pt solid; padding-bottom: 5pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>For the Six Months Ended June 30, 2021 (Unaudited)</B></FONT></TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Investment Income:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 82%; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Dividends
    (net of foreign withholding&nbsp;&nbsp;taxes of $678,010)</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; text-align: right"><FONT STYLE="font-size: 8pt">19,348,762</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Interest</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">17,111</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Total
    Investment Income</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">19,365,873</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Expenses:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Investment advisory
fees</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">10,576,649</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Stockholder communications
    expenses</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">228,459</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Custodian fees</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">119,589</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Directors&rsquo; fees</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">85,769</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Payroll expenses</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">81,475</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Shareholder services
    fees</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">68,854</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Legal and audit fees</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">58,243</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Accounting fees</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">22,500</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Interest expense</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">2,751</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Miscellaneous
    expenses</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">219,156</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Total
    Expenses</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">11,463,445</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Less:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.375in"><FONT STYLE="font-size: 8pt">Expenses paid indirectly
    by broker (See Note 3)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(7,118</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.375in"><FONT STYLE="font-size: 8pt">Advisory fee reduction
    on unsupervised assets (See Note 3)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">(8,013</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Total
    Reductions and Credits</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(15,131</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Net
    Expenses</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">11,448,314</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Net
    Investment Income</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">7,917,559</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Net
    Realized and Unrealized Gain/(Loss) on Investments in Securities Futures Contracts, and Foreign Currency:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Net realized gain on
    investments in securities</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">48,617,206</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Net realized loss on
    futures contracts</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">(2,102,878</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Net
    realized gain on foreign currency transactions</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">42,943</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Net
    realized gain on investments in securities futures contracts, and foreign currency transactions</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">46,557,271</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.375in"><FONT STYLE="font-size: 8pt">Net change in unrealized
    appreciation/depreciation:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.375in"><FONT STYLE="font-size: 8pt">on investments in
    securities</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">244,071,524</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.375in"><FONT STYLE="font-size: 8pt">on futures contracts</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">264,325</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.375in"><FONT STYLE="font-size: 8pt">on
    foreign currency translations</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(46,499</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Net
    change in unrealized appreciation/depreciation&nbsp;&nbsp;on investments in securities, futures contracts, and foreign currency
    translations</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">244,289,350</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Net
    Realized and Unrealized Gain/(Loss) on Investments in Securities Futures Contracts, and Foreign Currency</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">290,846,621</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Net
    Increase in Net Assets Resulting from Operations</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">298,764,180</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Total
    Distributions to Preferred Stockholders</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">(9,074,732</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2pt; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Net
    Increase in Net Assets Attributable to Common Stockholders Resulting from Operations</FONT></TD><TD STYLE="padding-bottom: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT STYLE="font-size: 8pt">289,689,448</FONT></TD><TD STYLE="padding-bottom: 2pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

</DIV>
<BR CLEAR="ALL">
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">See
accompanying notes to financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 15; Value: 2 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Statement
of Changes in Net Assets Attributable to Common Stockholders</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 6pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">Six Months Ended</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">June 30, 2021</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">Year Ended</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-left: 0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">(Unaudited)</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">December
    31, 2020</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Operations:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 60%; color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Net
    investment income</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">7,917,559</FONT></TD><TD STYLE="width: 2%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 3%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,632,558</FONT></TD><TD STYLE="width: 2%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Net
    realized gain on investments in securities, futures contracts, and foreign currency transactions</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">46,557,271</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">92,881,823</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Net
    change in unrealized appreciation/depreciation on investments in securities, futures contracts, and foreign currency translations</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">244,289,350</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">67,427,671</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #1D1D1B; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Net
    Increase in Net Assets Resulting from Operations</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">298,764,180</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">170,942,052</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #1D1D1B; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Distributions
    to Preferred Stockholders</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">(9,074,732</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">)*</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">(18,778,088</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #1D1D1B; font-weight: bold; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Net
    Increase in Net Assets Attributable to Common Stockholders Resulting from Operations</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">289,689,448</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">152,163,964</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #1D1D1B; font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.25in">&nbsp;</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">&nbsp;</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">&nbsp;</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Distributions
    to Common Stockholders:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Accumulated
    earnings</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">(38,284,285</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">)*</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">(85,345,251</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Return
    of capital</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">(40,382,054</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">)*</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">(70,082,226</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #1D1D1B; font-weight: bold; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Total
     Distributions to Common Stockholders</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">(78,666,339</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">(155,427,477</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #1D1D1B; font-weight: bold; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in">&nbsp;</TD><TD STYLE="color: #12100B; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Fund
    Share Transactions:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Net
    increase in net assets from common shares issued upon reinvestment of distributions</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,351,105</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">22,361,817</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Net
    increase in net assets from repurchase of preferred shares</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,917,441</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Adjustment
    of offering costs for preferred shares charged to paid-in capital</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">85,429</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #1D1D1B; font-weight: bold; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Net
    Increase     in     Net Assets from Fund Share Transactions</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,436,534</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,279,258</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #1D1D1B; font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Net
    Increase in Net Assets Attributable to Common Stockholders</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">222,459,643</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">22,015,745</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.25in">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Net
    Assets Attributable to Common Stockholders:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Beginning
    of year</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,534,205,729</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,512,189,984</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">End
    of period</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,756,665,372</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,534,205,729</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">*</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Based
                                         on year to date book income. Amounts are subject to change and recharacterization at
                                         year end.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">See
accompanying notes to financial statements.</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 16; Value: 2 -->
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Financial
Highlights</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 6pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Selected
data for a common share outstanding throughout each period:</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #12100B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Six
    Months Ended June 30, 2021</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="18" STYLE="font-size: 10pt; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Year
    Ended December 31,</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Unaudited)</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2020</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2019</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2018</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2017</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2016</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt"><B>Operating
    Performance:</B></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 32%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><FONT STYLE="color: #12100B">Net
    asset value, beginning of year</FONT></FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.86</FONT></TD><TD STYLE="width: 3%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.88</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.25</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.47</FONT></TD><TD STYLE="width: 3%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.84</FONT></TD><TD STYLE="width: 3%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.70</FONT></TD><TD STYLE="width: 3%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net
    investment income</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.03</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.04</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.06</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.07</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.04</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.07</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Net
    realized and unrealized gain/(loss) on investments, futures contracts, and foreign currency transactions</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.11</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.60</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.26</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.57</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.42</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.75</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Total
    from investment operations</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.14</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.64</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.32</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.50</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.46</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.82</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Distributions
    to Preferred Stockholders: (a)</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Net
    investment income</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.01</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)*</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.01</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.01</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.01</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)(b)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.01</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net
    realized gain</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.02</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)*</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.06</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.07</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.07</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.08</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.06</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Total
    distributions to preferred stockholders</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.03</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.07</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.08</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.08</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.08</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.07</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; text-indent: -0.125in; padding-left: 0.125in; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net
    Increase/(Decrease) in Net Assets Attributable to Common Stockholders Resulting
    from Operations</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.11</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.57</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.24</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.58</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.38</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.75</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Distributions
    to Common Stockholders:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Net
    investment income</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.03</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)*</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.04</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.05</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.06</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.04</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.08</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net
    realized gain</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.12</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)*</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.29</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.50</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.54</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.57</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.52</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Return
    of capital</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.15</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)*</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.27</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.05</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.04</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)(b)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)(b)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Total
    distributions to common stockholders</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.30</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.60</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.60</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.64</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.61</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.60</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Fund
    Share Transactions:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Increase/(decrease)
    in net asset value from common share transactions</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(b)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(b)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(b)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.14</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Increase
    in net asset value from repurchase of preferred shares</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.01</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(b)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(b)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Offering
    costs and adjustment to offering costs
    for preferred shares charged to paid-in capital</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(b)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.01</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.01</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Offering
    costs and adjustment to offering costs
    for common shares charged to paid- in
    capital</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)(b)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)(b)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total
    Fund share transactions</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(b)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.01</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.01</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)(b)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.14</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(0.01</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net
    Asset Value Attributable to Common Stockholders,
    End of Period</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.67</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.86</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.88</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.25</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.47</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.84</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">NAV
    total return &dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">19.04</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13.25</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">24.03</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(10.17</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">24.64</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">13.66</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Market
    value, end of period</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.90</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.27</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.09</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.10</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">6.19</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.52</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: -0.125in; padding-left: 0.25in; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Investment
    total return &dagger;&dagger;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">17.69</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">16.59</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">32.19</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(8.43</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">)%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">24.65</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">15.71</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Ratios
    to Average Net Assets and Supplemental
    Data:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net
    assets including liquidation value of preferred shares, end of period (in 000&rsquo;s)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2,200,303</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,977,843</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,966,007</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,743,519</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2,045,240</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,693,448</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Net
    assets attributable to common shares, end of period (in 000&rsquo;s)</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,756,665</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,534,206</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,512,190</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,330,606</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,632,327</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1,280,115</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Ratio
    of net investment income to average net assets attributable to common shares before preferred distributions</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.95</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%(c)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.81</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.01</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.07</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">0.64</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">1.23</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #12100B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 158pt; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">See
accompanying notes to financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 158pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 17; Value: 2 -->
    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence -->&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Financial
Highlights (Continued)</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 6pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Selected
data for a common share outstanding throughout each period:</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">Six Months Ended June 30, 2021</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="18" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 8pt">Year
    Ended December 31,</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">(Unaudited)</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2020</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2019</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2018</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2017</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">2016</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 36%; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Ratio
    of operating expenses to average net&nbsp;&nbsp;assets attributable to common shares: before fee reductions (d)(e)</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1.37</FONT></TD><TD STYLE="width: 3%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%(c)</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1.48</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1.33</FONT></TD><TD STYLE="width: 3%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%(f)</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1.37</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1.42</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1.44</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Ratio
    of operating expenses to average net assets attributable to common shares: net&nbsp;&nbsp;of fee reductions, if any (d)(g)</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1.37</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%(c)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1.48</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1.33</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%(f)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1.27</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1.42</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1.44</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Portfolio turnover rate</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">17</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">13</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">%</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in">&nbsp;</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">&nbsp;</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">&nbsp;</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">&nbsp;</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">&nbsp;</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">&nbsp;</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B">&nbsp;</TD>
    <TD STYLE="color: #12100B; text-align: left">&nbsp;</TD><TD STYLE="color: #12100B; text-align: right">&nbsp;</TD><TD STYLE="color: #12100B; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Cumulative Preferred Stock:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Auction Rate
    Series C Preferred</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Liquidation
    value, end of period (in 000&rsquo;s)</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">62,300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">62,300</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">72,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">72,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">72,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">72,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Total shares outstanding (in
    000&rsquo;s)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Liquidation preference per share</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Liquidation value (h)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Asset coverage per share (i)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">123,992</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">111,456</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">108,305</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">105,562</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">123,830</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">102,426</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">5.875% Series
    D Preferred (j)</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Liquidation
    value, end of period (in 000&rsquo;s)</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">59,097</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">59,097</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">59,097</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Total shares outstanding (in
    000&rsquo;s)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,364</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,364</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,364</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Liquidation preference per share</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25.00</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25.00</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25.00</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Average market value (k)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25.62</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">26.16</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">26.22</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Asset coverage per share (i)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">105.56</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">123.83</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">102.43</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Auction Rate
    Series E Preferred</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Liquidation
    value, end of period (in 000&rsquo;s)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">27,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">27,700</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">28,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">28,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">28,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">28,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Total shares outstanding (in
    000&rsquo;s)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Liquidation preference per share</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Liquidation value (h)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25,000</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Asset coverage per share (i)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">123,992</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">111,456</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">108,305</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">105,562</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">123,830</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">102,426</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">5.000% Series
    G Preferred</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Liquidation
    value, end of period (in 000&rsquo;s)</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">69,491</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">69,491</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">69,495</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">69,495</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">69,495</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">69,743</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Total shares outstanding (in
    000&rsquo;s)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,780</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,780</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,780</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,780</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,780</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,791</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Liquidation preference per share</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25.00</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25.00</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25.00</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25.00</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25.00</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25.00</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Average market value (k)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25.66</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">25.25</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">24.57</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">23.92</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">24.50</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">24.67</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Asset coverage per share (i)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">123.99</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">111.46</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">108.30</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">105.56</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">123.83</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">102.43</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 158pt; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">See
accompanying notes to financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 18; Value: 2 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.2pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.2pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.2pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Financial
Highlights (Continued)</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 6pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.2pt; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.2pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Selected
data for a common share outstanding throughout each period:</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.2pt; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.2pt; color: #12100B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-bottom: 1pt; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Six
    Months Ended June
    30, 2021</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="18" STYLE="font-size: 10pt; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><B>Year
    Ended December 31,</B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD STYLE="font-size: 10pt; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(Unaudited)</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2020</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2019</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2018</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2017</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">2016</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.000%Series
    H Preferred</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Liquidation
    value, end of period (in 000&rsquo;s)</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">104,322</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">104,322</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">104,322</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">104,322</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">104,322</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">104,494</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total
    shares outstanding (in 000&rsquo;s)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4,173</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4,173</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4,173</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4,173</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4,173</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4,180</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Liquidation
    preference per share</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Average
    market value (k)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.56</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.30</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">24.68</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">24.18</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">24.64</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Asset
    coverage per share (i)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">123.99</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">111.46</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">108.30</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">105.56</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">123.83</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">102.43</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.450%
    Series J Preferred</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Liquidation
    value, end of period (in 000&rsquo;s)</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">80,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">80,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">80,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">80,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">80,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">80,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total
    shares outstanding (in 000&rsquo;s)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3,200</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Liquidation
    preference per share</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Average
    market value (k)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">26.25</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">26.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.98</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.14</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.36</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.43</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Asset
    coverage per share (i)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">123.99</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">111.46</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">108.30</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">105.56</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">123.83</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">102.43</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">5.000%
    Series K Preferred</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Liquidation
    value, end of period (in 000&rsquo;s)</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">99,825</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">99,825</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">100,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Total
    shares outstanding (in 000&rsquo;s)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3,993</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">3,993</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">4,000</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Liquidation
    preference per share</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.00</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Average
market value</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">26.21</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.86</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">25.24</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Asset
    coverage per share (i)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">123.99</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">111.46</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">$</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">108.30</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; text-align: left; padding-left: 0.25in; text-indent: -0.125in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Asset
    Coverage (l)</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">496</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">446</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">433</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">422</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">495</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">410</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">%</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.2pt; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.2pt; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 6pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 40%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.2pt; color: #12100B"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0in; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&dagger;</FONT></TD><TD STYLE="text-align: justify; padding-right: 13pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Based
                                         on net asset value per share, adjusted for reinvestment of distributions at net asset
                                         value on the ex-dividend dates and adjustments for the rights offering. Total return
                                         for a period of less than one year is not annualized. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0in; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&dagger;&dagger;</FONT></TD><TD STYLE="text-align: justify; padding-right: 4pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Based
                                         on market value per share, adjusted for reinvestment of distributions at prices determined
                                         under the Fund&rsquo;s dividend reinvestment plan. Total return for a period of less
                                         than one year is not annualized. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">*</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Based
                                         on year to date book income. Amounts are subject to change and recharacterization at
                                         year end.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.2pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0in; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(a)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Calculated
                                         based on average common shares outstanding on the record dates throughout the periods.
                                         </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0in; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(b)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Amount
                                         represents less than $0.005 per share. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0in; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(c)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Annualized.
                                         </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0in; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(d)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">The
                                         Fund received credits from a designated broker who agreed to pay certain Fund operating
                                         expenses. For all years presented there was no impact on the expense ratios. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0in; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(e)</FONT></TD><TD STYLE="text-align: justify; padding-right: 20pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Ratio
                                         of operating expenses to average net assets including liquidation value of preferred
                                         shares before fee reductions for the six months ended June 30, 2021 and the years ended
                                         December 31, 2020, 2019, 2018, 2017, and 2016 would have been 1.08%, 1.10%, 1.03%, 1.09%,
                                         1.10%, and 1.10%, respectively. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0in; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(f)</FONT></TD><TD STYLE="padding-right: 3pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">In
                                         2019, due to failed auctions relating to previous fiscal years, the Fund reversed accumulated
                                         auction fees. The 2019 ratio of operating expenses to average net assets attributable
                                         to common shares and the ratio of operating expenses to average net assets including
                                         liquidation value of preferred shares, excluding the reversal of auction agent fees,
                                         were 1.39% and 1.08%, respectively. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0in; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(g)</FONT></TD><TD STYLE="text-align: justify; padding-right: 22pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Ratio
                                         of operating expenses to average net assets including liquidation value of preferred
                                         shares net of fee reductions for the six months ended June 30, 2021 and the years ended
                                         December 31, 2020, 2019, 2018, 2017, and 2016 would have been 1.08%, 1.10%, 1.03%, 1.01%,
                                         1.10%, and 1.10%, respectively. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0in; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(h)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Since
                                         February 2008, the weekly auctions have failed. Holders that have submitted orders have
                                         not been able to sell any or all of their shares in the auction.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0in; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(i)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Asset
                                         coverage per share is calculated by combining all series of preferred stock. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0in; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(j)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">The
                                         Fund redeemed and retired all of the 2,363,860 shares of Series D Preferred Stock on
                                         December 26, 2019. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0in; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(k)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Based
                                         on weekly prices. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0in; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(l)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Asset
                                         coverage is calculated by combining all series of preferred stock. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">See
accompanying notes to financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 158.2pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Notes
to Financial Statements</B></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>1.&ensp;
Organization. </B>The Gabelli Equity Trust Inc. (the Fund) is a non-diversified closed-end management investment company organized
as a Maryland corporation on May 20, 1986 and registered under the Investment Company Act of 1940, as amended (the 1940 Act),
whose primary objective is long term growth of capital with income as a secondary objective. Investment operations commenced on
August 21, 1986.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Fund will invest at least 80% of its assets in equity securities under normal market conditions (the 80% Policy). The 80% Policy
may be changed without stockholder approval. The Fund will provide stockholders with notice at least sixty days prior to the implementation
of any changes in the 80% Policy.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"><B>2.&ensp;
Significant Accounting Policies</B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">.
</FONT></B><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B">As an investment company, the Fund follows the
investment company accounting and reporting guidance, which is part of U.S. generally accepted accounting principles (GAAP) that
may require the use of management estimates and assumptions in the preparation of its financial statements. Actual results could
differ from those estimates. The following is a summary of significant accounting policies followed by the Fund in the preparation
of its financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
global outbreak of the novel coronavirus disease, known as COVID-19, has caused adverse effects on many companies, sectors, nations,
regions and the markets in general, and may continue for an unpredictable duration. The effects of this pandemic may materially
impact the value and performance of the Fund, its ability to buy and sell fund investments at appropriate valuations, and its
ability to achieve its investment objectives.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"><B><I>Security
Valuation. </I></B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Portfolio securities
listed or traded on a nationally recognized securities exchange or traded in the U.S. over-the-counter market for which market
quotations are readily available are valued at the last quoted sale price or a market&rsquo;s official closing price as of the
close of business on the day the securities are being valued. If there were no sales that day, the security is valued at the average
of the closing bid and asked prices or, if there were no asked prices quoted on that day, then the security is valued at the closing
bid price on that day. If no bid or asked prices are quoted on such day, the security is valued at the most recently available
price or, if the Board of Directors (the Board) so determines, by such other method as the Board shall determine in good faith
to reflect its fair market value. Portfolio securities traded on more than one national securities exchange or market are valued
according to the broadest and most representative market, as determined by Gabelli Funds, LLC (the Adviser).</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Portfolio
securities primarily traded on a foreign market are generally valued at the preceding closing values of such securities on the
relevant market, but may be fair valued pursuant to procedures established by the Board if market conditions change significantly
after the close of the foreign market, but prior to the close of business on the day the securities are being valued. Debt obligations
for which market quotations are readily available are valued at the average of the latest bid and asked prices. If there were
no asked prices quoted on such day, the securities are valued using the closing bid price, unless the Board determines such amount
does not reflect the securities&rsquo; fair value, in which case these securities will be fair valued as determined by the Board.
Certain securities are valued principally using dealer quotations. Futures contracts are valued at the closing settlement price
of the exchange or board of trade on which the applicable contract is traded. OTC futures and options on futures for which market
quotations are readily available will be valued by quotations received from a pricing service or, if no quotations are available
from a pricing service, by quotations obtained from one or more dealers in the instrument in question by the Adviser.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Notes
to Financial Statements (Continued)</B></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Securities
and assets for which market quotations are not readily available are fair valued as determined by the Board. Fair valuation methodologies
and procedures may include, but are not limited to: analysis and review of available financial and non-financial information about
the company; comparisons with the valuation and changes in valuation of similar securities, including a comparison of foreign
securities with the equivalent U.S. dollar value American Depositary Receipt securities at the close of the U.S. exchange; and
evaluation of any other information that could be indicative of the value of the security.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
inputs and valuation techniques used to measure fair value of the Fund&rsquo;s investments are summarized into three levels as
described in the hierarchy below:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Level
1 &mdash; quoted prices in active markets for identical securities;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.25in; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Level
2 &mdash; other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds,
credit risk, etc.); and</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 32pt; text-indent: -13.5pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Level
3 &mdash; significant unobservable inputs (including the Board&rsquo;s determinations as to the fair value of investments).</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 32pt; text-indent: -13.5pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">A
financial instrument&rsquo;s level within the fair value hierarchy is based on the lowest level of any input both individually
and in the aggregate that is significant to the fair value measurement. The inputs or methodology used for valuing securities
are not necessarily an indication of the risk associated with investing in those securities. The summary of the Fund&rsquo;s investments
in securities and other financial instruments by inputs used to value the Fund&rsquo;s investments as of June 30, 2021 is as follows:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD COLSPAN="9" STYLE="border-bottom: Black 1pt solid; color: #12100B; font-weight: bold; text-align: center"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif; color: #12100B"><B>Valuation Inputs</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B;  border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Level
                                         1</B></FONT><FONT STYLE="font-size: 8pt"><BR> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #12100B"><B>Quoted
                                         Prices</B></FONT></FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B;  border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Level
                                         2 Other Significant</B></FONT><FONT STYLE="font-size: 8pt"><BR> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #12100B"><B>Observable
                                         Inputs</B></FONT></FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B;  padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B;  border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Level
                                         3 Significant</B></FONT><FONT STYLE="font-size: 8pt"><BR> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #12100B"><B>Unobservable
                                         Inputs (a)</B></FONT></FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B;  border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Total
                                         Market Value</B></FONT><FONT STYLE="font-size: 8pt"><BR> <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #12100B"><B>at
                                         06/30/21</B></FONT></FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">INVESTMENTS IN SECURITIES:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">ASSETS (Market Value):</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Common Stocks:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 36%; color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Consumer Products</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 13%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">115,934,600</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 13%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,314,488</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 13%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 13%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">119,249,088</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Energy and Utilities</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">61,271,832</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">61,271,841</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Financial Services</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">256,410,466</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">197,699</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">256,608,165</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Health Care</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">119,574,369</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">240</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">119,574,609</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Real Estate</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">19,714,389</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">560</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">19,714,949</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-indent: -0.125in; padding-left: 0.25in"><FONT STYLE="font-size: 8pt">Telecommunications</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">39,780,891</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,632</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,441,529</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">42,229,052</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.25in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Other Industries
    (b)</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,522,349,512</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,522,349,512</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Total Common Stocks</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,135,036,059</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,519,628</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,441,529</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,140,997,216</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Closed-End Funds</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">6,866,559</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">3,564,750</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">10,431,309</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Preferred Stocks (b)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">831,067</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">831,067</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Convertible Preferred Stocks (b)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,273,810</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,273,810</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Rights (b)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Warrants (b)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">375,931</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">375,931</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Convertible Corporate Bonds (b)</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,519</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">8,519</FONT></TD><TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">U.S. Government Obligations</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">44,058,062</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">44,058,062</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; padding-bottom: 1pt; text-indent: -0.125in; padding-left: 0.125in; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>TOTAL
    INVESTMENTS IN SECURITIES <FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #12100B">&ndash; ASSETS</FONT></B></FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,144,383,426</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">51,150,959</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,441,529</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,197,975,914</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Notes
to Financial Statements (Continued)</B></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="8" STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Valuation Inputs</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Level
    1<BR> Quoted Prices</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="color: #12100B; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Level
    2 Other Significant<BR> Observable Inputs</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Level
    3 Significant<BR> Unobservable Inputs (a)</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Total
    Market Value<BR> at 06/30/21</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B;  text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>OTHER
    FINANCIAL INSTRUMENTS:<SUP>*</SUP></B></FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">LIABILITIES (Unrealized Depreciation):</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; padding-left: 8pt"><FONT STYLE="font-size: 8pt">EQUITY CONTRACTS</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-left: 15pt"><FONT STYLE="font-size: 8pt">Index Futures Contracts - Short</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 38%; color: #12100B; padding-bottom: 1pt; padding-left: 15pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Position</FONT></TD><TD STYLE="width: 1%; color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 13%; border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">(348,625</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="width: 1%; color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 13%; color: #12100B; padding-bottom: 1pt; padding-left: 50pt; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 13%; border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$&nbsp;</FONT></TD><TD STYLE="width: 13%; border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">(348,625</FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

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<TD STYLE="width: 0; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(a)</FONT></TD><TD STYLE="text-align: left; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Level
                                         3 securities are valued at last available closing price. The inputs for these securities
                                         are not readily available and are derived based on the judgment of the Adviser according
                                         to procedures approved by the Board of Directors. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

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<TD STYLE="width: 0; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(b)</FONT></TD><TD STYLE="text-align: justify; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Please
                                         refer to the Schedule of Investments (SOI) for the industry classifications of these
                                         portfolio holdings. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

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<TD STYLE="width: 0; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">*</FONT></TD><TD STYLE="text-align: left; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Other
                                         financial instruments are derivatives reflected in the SOI, such as options, futures,
                                         forwards, and swaps, which may be valued at the unrealized appreciation/(depreciation)
                                         of the instrument.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">During
the six months ended June 30, 2021, the Fund had a transfer into Level 3 of $2,387,000 or 0.16% of net assets as of December 31,
2020. Transfers into Level 3 are due to a decrease in market activity, e.g., frequency of trades, which resulted in a decrease
in available market inputs to determine the prices. The Fund&rsquo;s policy is to recognize transfers among Levels as of the beginning
of the reporting period.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 15pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

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<TR STYLE="text-align: center; vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Balance<BR>
    as of<BR> 12/31/20</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Accrued<BR>
    discounts/<BR> (premiums)</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Realized<BR>
    gain/<BR> (loss)</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Net
    Change<BR> in unrealized<BR> appreciation/<BR> depreciation&dagger;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Purchases</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Sales</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Transfers<BR>
    Into<BR> Level 3&dagger;&dagger;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Transfers<BR>
    Out of<BR> Level 3&dagger;&dagger;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Balance<BR>
    as of<BR> 06/30/21</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Net
    change<BR> in unrealized<BR> appreciation/<BR> depreciation<BR> during the<BR> period on<BR> Level 3<BR> investments<BR> still
    held at<BR> 06/30/21&dagger;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">INVESTMENTS IN SECURITIES:</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="5" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">ASSETS (Market Value):</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">Common Stocks (a)</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">57,334</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">(2,805</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,387,000</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 7%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,441,529</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 7%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">(2,805</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; text-align: left; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Rights
    (a)</FONT></TD><TD STYLE="padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 8pt">0&nbsp;</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">0</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left"><FONT STYLE="font-size: 8pt">TOTAL INVESTMENTS</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="color: #12100B; font-weight: bold; text-align: left; padding-bottom: 1pt; padding-left: 7pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">IN
    SECURITIES</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">57,334</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">(2,805</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">)</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,387,000</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,441,529</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">(b)</FONT></TD><TD STYLE="color: #12100B; padding-bottom: 1pt; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 1pt solid; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">(2,805</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">)</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&dagger;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Net
                                         change in unrealized appreciation/depreciation on investments is included in the related
                                         amounts in the Statement of Operations.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 66pt 0pt 0; color: #12100B"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&dagger;</FONT><FONT STYLE="font-size: 8pt">&dagger;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">The
                                         Fund&rsquo;s policy is to recognize transfers into and out of Level 3 as of the beginning
                                         of the reporting period.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 66pt 0pt 0; color: #12100B"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #12100B"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(a)</FONT></TD><TD STYLE="text-align: left; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Please
                                         refer to the Schedule of Investments (SOI) for the industry classifications of these
                                         portfolio holdings. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; color: #12100B"><TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
<TD STYLE="width: 0; font: 10pt Arial, Helvetica, Sans-Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">(b)</FONT></TD><TD STYLE="text-align: left; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">The
                                         Level 3 common stock was valued at the net realizable value of the proposed corporate
                                         action. The total value of these securities at June 30, 2021 was $2,441,529. The inputs
                                         for the valuation of these securities were based on the judgment of the Adviser according
                                         to procedures approved by the Board.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Additional
Information to Evaluate Qualitative Information.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 15pt 0pt 0; text-align: justify; text-indent: 0.2in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"><B><I>General.
</I></B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">The Fund uses recognized
industry pricing services &ndash; approved by the Board and unaffiliated with the Adviser &ndash; to value most of its securities,
and uses broker quotes provided by market makers of securities not valued by these and other recognized pricing sources. Several
different pricing feeds are received to value domestic equity securities, international equity securities, preferred equity securities,
and fixed income</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 15pt 0pt 0; text-align: justify; text-indent: 0.2in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Notes
to Financial Statements (Continued)</B></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">securities.
The data within these feeds are ultimately sourced from major stock exchanges and trading systems where these securities trade.
The prices supplied by external sources are checked by obtaining quotations or actual transaction prices from market participants.
If a price obtained from the pricing source is deemed unreliable, prices will be sought from another pricing service or from a
broker/dealer that trades that security or similar securities.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"><B><I>Fair
Valuation. </I></B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Fair valued
securities may be common or preferred equities, warrants, options, rights, or fixed income obligations. Where appropriate, Level
3 securities are those for which market quotations are not available, such as securities not traded for several days, or for which
current bids are not available, or which are restricted as to transfer. When fair valuing a security, factors to consider include
recent prices of comparable securities that are publicly traded, reliable prices of securities not publicly traded, the use of
valuation models, current analyst reports, valuing the income or cash flow of the issuer, or cost if the preceding factors do
not apply. A significant change in the unobservable inputs could result in a lower or higher value in Level 3 securities. The
circumstances of Level 3 securities are frequently monitored to determine if fair valuation measures continue to apply.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Adviser reports quarterly to the Board the results of the application of fair valuation policies and procedures. These may include
backtesting the prices realized in subsequent trades of these fair valued securities to fair values previously recognized.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"><B><I>Derivative
Financial Instruments. </I></B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">The
Fund may engage in various portfolio investment strategies by investing in derivative financial instruments for the purposes of
increasing the income of the Fund, hedging against changes in the value of its portfolio securities and in the value of securities
it intends to purchase, or hedging against a specific transaction with respect to either the currency in which the transaction
is denominated or another currency. Investing in certain derivative financial instruments, including participation in the options,
futures, or swap markets, entails certain execution, liquidity, hedging, tax, and securities, interest, credit, or currency market
risks. Losses may arise if the Adviser&rsquo;s prediction of movements in the direction of the securities, foreign currency, and
interest rate markets is inaccurate. Losses may also arise if the counterparty does not perform its duties under a contract, or,
in the event of default, the Fund may be delayed in or prevented from obtaining payments or other contractual remedies owed to
it under derivative contracts. The creditworthiness of the counterparties is closely monitored in order to minimize these risks.
Participation in derivative transactions involves investment risks, transaction costs, and potential losses to which the Fund
would not be subject absent the use of these strategies. The consequences of these risks, transaction costs, and losses may have
a negative impact on the Fund&rsquo;s ability to pay distributions.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Collateral
requirements differ by type of derivative. Collateral requirements are set by the broker or exchange clearing house for exchange
traded derivatives, while collateral terms are contract specific for derivatives traded over-the-counter. Securities pledged to
cover obligations of the Fund under derivative contracts are noted in the Schedule of Investments. Cash collateral, if any, pledged
for the same purpose will be reported separately in the Statement of Assets and Liabilities.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Fund&rsquo;s policy with respect to offsetting is that, absent an event of default by the counterparty or a termination of the
agreement, the master agreement does not result in an offset of reported amounts of financial assets</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Notes
to Financial Statements (Continued)</B></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">and
financial liabilities in the Statement of Assets and Liabilities across transactions between the Fund and the applicable counterparty.
The enforceability of the right to offset may vary by jurisdiction.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Fund&rsquo;s derivative contracts held at June 30, 2021, if any, are not accounted for as hedging instruments under GAAP and are
disclosed in the Schedule of Investments together with the related counterparty.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"><B><I>Futures
Contracts. </I></B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">The Fund may
engage in futures contracts for the purpose of hedging against changes in the value of its portfolio securities and in the value
of securities it intends to purchase. Upon entering into a futures contract, the Fund is required to deposit with the broker an
amount of cash or cash equivalents equal to a certain percentage of the contract amount. This is known as the &ldquo;initial margin.&rdquo;
Subsequent payments (variation margin) are made or received by the Fund each day, depending on the daily fluctuations in the value
of the contract, and are included in unrealized appreciation/depreciation on futures contracts. The Fund recognizes a realized
gain or loss when the contract is closed.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; text-indent: 0.2in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">There
are several risks in connection with the use of futures contracts as a hedging instrument. The change in value of futures contracts
primarily corresponds with the value of their underlying instruments, which may not correlate with the change in value of the
hedged investments. In addition, there is the risk that the Fund may not be able to enter into a closing transaction because of
an illiquid secondary market. Open positions in futures contracts at June 30, 2021 are reflected within the Schedule of Investments.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">During
the six months ended June 30, 2021, the Fund held an average monthly notional amount of equity index futures contracts of approximately
$18,181,057.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">As
of June 30, 2021, the equity risk exposure associated with the futures contracts can be found in the Statement of Assets and Liabilities,
under Liabilities, Variation margin payable. For the six months ended June 30, 2021, the effect of futures contracts with equity
risk exposure can be found in the Statement of Operations, under Net Realized and Unrealized Gain/(Loss) on Investments, Futures
Contracts, and Foreign Currency; Net realized loss on futures contracts; and Net change in unrealized appreciation/depreciation
on futures contracts.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"><B><I>Limitations
on the Purchase and Sale of Futures Contracts, Certain Options, and Swaps. </I></B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Subject
to the guidelines of the Board, the Fund may engage in &ldquo;commodity interest&rdquo; transactions (generally, transactions
in futures, certain options, certain currency transactions, and certain types of swaps) only for bona fide hedging or other permissible
transactions in accordance with the rules and regulations of the Commodity Futures Trading Commission (CFTC). Pursuant to amendments
by the CFTC to Rule 4.5 under the Commodity Exchange Act (CEA), the Adviser has filed a notice of exemption from registration
as a &ldquo;commodity pool operator&rdquo; with respect to the Fund. The Fund and the Adviser are therefore not subject to registration
or regulation as a commodity pool operator under the CEA. In addition, certain trading restrictions are now applicable to the
Fund which permit the Fund to engage in commodity interest transactions that include (i) &ldquo;bona fide hedging&rdquo; transactions,
as that term is defined and interpreted by the CFTC and its staff, without regard to the percentage of the Fund&rsquo;s assets
committed to margin and options premiums and (ii) non-bona fide hedging transactions, provided that the Fund does not enter into
such non-bona fide hedging transactions if, immediately thereafter, either (a) the sum of the amount of initial margin deposits
on the Fund&rsquo;s existing futures positions or swaps positions and option or swaption premiums would exceed 5% of the market
value of the Fund&rsquo;s liquidating value, after taking into account unrealized profits and unrealized losses on any such transactions,
or (b) the aggregate net notional value of the Fund&rsquo;s commodity interest transactions would not exceed 100% of the market
value of the Fund&rsquo;s</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Notes
to Financial Statements (Continued)</B></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">liquidating
value, after taking into account unrealized profits and unrealized losses on any such transactions. Therefore, in order to claim
the Rule 4.5 exemption, the Fund is limited in its ability to invest in commodity futures, options, and certain types of swaps
(including securities futures, broad based stock index futures, and financial futures contracts). As a result, in the future the
Fund will be more limited in its ability to use these instruments than in the past, and these limitations may have a negative
impact on the ability of the Adviser to manage the Fund, and on the Fund&rsquo;s performance.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B><I>Investments
in Other Investment Companies.</I></B> The Fund may invest, from time to time, in shares of other investment companies (or entities
that would be considered investment companies but are excluded from the definition pursuant to certain exceptions under the 1940
Act) (the Acquired Funds) in accordance with the 1940 Act and related rules. Stockholders in the Fund would bear the pro rata
portion of the periodic expenses of the Acquired Funds in addition to the Fund&rsquo;s expenses. For the six months ended June
30, 2021, the Fund&rsquo;s pro rata portion of the periodic expenses charged by the Acquired Funds was less than one basis point.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"><B><I>Foreign
Currency Translations. </I></B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">The
books and records of the Fund are maintained in U.S. dollars. Foreign currencies, investments, and other assets and liabilities
are translated into U.S. dollars at current exchange rates. Purchases and sales of investment securities, income, and expenses
are translated at the exchange rate prevailing on the respective dates of such transactions. Unrealized gains and losses that
result from changes in foreign exchange rates and/or changes in market prices of securities have been included in unrealized appreciation/depreciation
on investments and foreign currency translations. Net realized foreign currency gains and losses resulting from changes in exchange
rates include foreign currency gains and losses between trade date and settlement date on investment securities transactions,
foreign currency transactions, and the difference between the amounts of interest and dividends recorded on the books of the Fund
and the amounts actually received. The portion of foreign currency gains and losses related to fluctuation in exchange rates between
the initial purchase trade date and subsequent sale trade date is included in realized gain/(loss) on investments.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"><B><I>Foreign
Securities. </I></B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">The Fund may
directly purchase securities of foreign issuers. Investing in securities of foreign issuers involves special risks not typically
associated with investing in securities of U.S. issuers. The risks include possible revaluation of currencies, the inability to
repatriate funds, less complete financial information about companies, and possible future adverse political and economic developments.
Moreover, securities of many foreign issuers and their markets may be less liquid and their prices more volatile than securities
of comparable U.S. issuers.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"><B><I>Foreign
Taxes. </I></B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">The Fund may be
subject to foreign taxes on income, gains on investments, or currency repatriation, a portion of which may be recoverable. The
Fund will accrue such taxes and recoveries as applicable, based upon its current interpretation of tax rules and regulations that
exist in the markets in which it invests.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"><B><I>Restricted
Securities. </I></B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">The Fund may
invest up to 10% of its net assets in securities for which the markets are restricted. Restricted securities include securities
whose disposition is subject to substantial legal or contractual restrictions. The sale of restricted securities often requires
more time and results in higher brokerage charges or dealer discounts and other selling expenses than the sale of securities eligible
for trading on national securities exchanges or in the over-the-counter markets. Restricted securities may sell at a price lower
than similar securities that are not subject to restrictions on resale. Securities freely saleable among qualified institutional
investors under special rules adopted by the SEC may be treated as liquid if they satisfy liquidity standards</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT>&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Notes
to Financial Statements (Continued)</B></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">established
by the Board. The continued liquidity of such securities is not as well assured as that of publicly traded securities, and accordingly
the Board will monitor their liquidity. At June 30, 2021, the Fund held no restricted securities.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #12100B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"><B><I>Securities
Transactions and Investment Income. </I></B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Securities
transactions are accounted for on the trade date with realized gain/(loss) on investments determined by using the identified cost
method. Interest income (including amortization of premium and accretion of discount) is recorded on an accrual basis. Premiums
and discounts on debt securities are amortized using the effective yield to maturity method or amortized to earliest call date,
if applicable. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities that
are recorded as soon after the ex-dividend date as the Fund becomes aware of such dividends.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"><B><I>Custodian
Fee Credits and Interest Expense. </I></B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">When
cash balances are maintained in the custody account, the Fund receives credits which are used to offset custodian fess. The gross
expenses paid under the custody arrangement are included in custodian fees in the Statement of Operations with the corresponding
expense offset, if any, shown as &ldquo;Custodian fee credits.&rdquo; When cash balances are overdrawn, the Fund is charged an
overdraft fee of 110% of the 90 day U.S. Treasury Bill rate on outstanding balances. This amount, if any, would be included in
the Statement of Operations.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"><B><I>Distributions
to Stockholders. </I></B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">Distributions
to common stockholders are recorded on the ex-dividend date. Distributions to stockholders are based on income and capital gains
as determined in accordance with federal income tax regulations, which may differ from income and capital gains as determined
under GAAP. These differences are primarily due to differing treatments of income and gains on various investment securities and
foreign currency transactions held by the Fund, timing differences, and differing characterizations of distributions made by the
Fund. Distributions from net investment income for federal income tax purposes include net realized gains on foreign currency
transactions. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent,
adjustments are made to the appropriate capital accounts in the period when the differences arise. These reclassifications have
no impact on the NAV of the Fund.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Under
the Fund&rsquo;s current common share distribution policy, the Fund declares and pays quarterly distributions from net investment
income, capital gains, and paid-in capital. The actual source of the distribution is determined after the end of the year. Pursuant
to this policy, distributions during the year may be made in excess of required distributions. To the extent such distributions
are made from current earnings and profits, they are considered ordinary income or long term capital gains. Distributions sourced
from paid-in capital should not be considered as dividend yield or the total return from an investment in the Fund. The Board
will continue to monitor the Fund&rsquo;s distribution level, taking into consideration the Fund&rsquo;s NAV and the financial
market environment. The Fund&rsquo;s distribution policy is subject to modification by the Board at any time.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Distributions
to stockholders of the Fund&rsquo;s Series C Auction Rate Cumulative Preferred Stock, Series E Auction Rate Cumulative Preferred
Stock, 5.000% Series G Cumulative Preferred Stock, 5.000% Series H Cumulative Preferred Stock, 5.450% Series J Cumulative Preferred
Stock, and 5.000% Series K Cumulative Preferred Stock (Preferred Stock) are recorded on a daily basis and are determined as described
in Note 5.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Notes
to Financial Statements (Continued)</B></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
tax character of distributions paid during the year ended December 31, 2020 was as follows:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 76%; margin-left: 1in">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Common</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Preferred</FONT></TD><TD STYLE="padding-bottom: 1pt; font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: bold 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">Distributions
    paid from:</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font-size: 10pt; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">Ordinary
    income</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">9,115,669</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: center"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 15%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">2,005,675</FONT></TD><TD STYLE="width: 1%; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">Net long
    term capital gains</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">76,229,582</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">16,772,413</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">Return of capital</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">70,082,226</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">&mdash;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left; padding-bottom: 2pt"><FONT STYLE="font-size: 8pt">Total
    distributions paid</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">155,427,477</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; padding-bottom: 2pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: center"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Arial, Helvetica, Sans-Serif; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">18,778,088</FONT></TD><TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 2pt; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>



<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;<FONT STYLE="color: #1D1D1B"><B><I>&nbsp;</I></B></FONT></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B"><B><I>Provision
for Income Taxes. </I></B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">The
Fund intends to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code of 1986,
as amended (the Code). It is the policy of the Fund to comply with the requirements of the Code applicable to regulated investment
companies and to distribute substantially all of its net investment company taxable income and net capital gains. Therefore, no
provision for federal income taxes is required.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B">The
following summarizes the tax cost of investments and derivatives and the related net unrealized appreciation at </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">June
30, 2021</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B">:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="width: 95%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="width: 36%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 14%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 14%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Gross</B></FONT></TD>
    <TD STYLE="width: 3%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 14%; text-align: center; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Gross</B></FONT></TD>
    <TD STYLE="width: 3%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 14%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Unrealized</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Unrealized</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Net
    Unrealized</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #12100B 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Cost</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #12100B 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Appreciation</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #12100B 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Depreciation</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: #12100B 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Appreciation</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Investments</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">$1,200,721,666</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">$1,019,721,575</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">$(22,467,327)</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">$997,254,248</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">The
Fund is required to evaluate tax positions taken or expected to be taken in the course of preparing the Fund&rsquo;s tax returns
to determine whether the tax positions are &ldquo;more-likely-than-not&rdquo; of being sustained by the applicable tax authority.
Income tax and related interest and penalties would be recognized by the Fund as tax expense in the Statement of Operations if
the tax positions were deemed not to meet the more-likely-than-not threshold. For the six months ended June 30, 2021, the Fund
did not incur any income tax, interest, or penalties. As of June 30, 2021, the Adviser has reviewed all open tax years and concluded
that there was no impact to the Fund&rsquo;s net assets or results of operations. The Fund&rsquo;s federal and state tax returns
for the prior three fiscal years remain open, subject to examination. On an ongoing basis, the Adviser will monitor the Fund&rsquo;s
tax positions to determine if adjustments to this conclusion are necessary.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>3.&ensp;
Investment Advisory Agreement and Other Transactions. </B>The Fund has entered into an investment advisory agreement (the Advisory
Agreement) with the Adviser which provides that the Fund will pay the Adviser a fee, computed weekly and paid monthly, equal on
an annual basis to 1.00% of the value of the Fund&rsquo;s average weekly net assets including the liquidation value of preferred
stock. In accordance with the Advisory Agreement, the Adviser provides a continuous investment program for the Fund&rsquo;s portfolio
and oversees the administration of all aspects of the Fund&rsquo;s business and affairs.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Adviser has agreed to reduce the management fee on the incremental assets attributable to the Series C and Series E Preferred
Stock (C and E Preferred Stock) if the total return of the NAV of the common shares of the Fund, including distributions and advisory
fee subject to reduction, does not exceed the stated dividend rate of the C and E Preferred Stock for the year. The Fund&rsquo;s
total return on the NAV of the common shares is monitored on a monthly basis to assess whether the total return on the NAV of
the common shares exceeds the</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


<!-- Field: Page; Sequence: 27; Value: 2 -->
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Notes
to Financial Statements (Continued)</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 6pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">stated
dividend rate of the C and E Preferred Stock for the period. During the six months ended June 30, 2021, the Fund&rsquo;s total
return on the NAV of the common shares exceeded the dividend rate of the outstanding C and E Preferred Stock.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">During
the six months ended June 30, 2021, the Fund paid $13,640 in brokerage commissions on security trades to G.research, LLC, an affiliate
of the Adviser.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">During
the six months ended June 30, 2021, the Fund received credits from a designated broker who agreed to pay certain Fund operating
expenses. The amount of such expenses paid through this directed brokerage arrangement during this period was $7,118.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
cost of calculating the Fund&rsquo;s NAV per share is a Fund expense pursuant to the Advisory Agreement between the Fund and the
Adviser. Under the sub-administration agreement with Bank of New York Mellon, the fees paid include the cost of calculating the
Fund&rsquo;s NAV. The Fund reimburses the Adviser for this service. During the six months ended June 30, 2021, the Fund accrued
$22,500 in accounting fees in the Statement of Operations.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">There
was a reduction in the advisory fee paid to the Adviser relating to certain portfolio holdings, i.e., unsupervised assets, of
the Fund with respect to which the Adviser transferred dispositive and voting control to the Fund&rsquo;s Proxy Voting Committee.
During the six months ended June 30, 2021, the Fund&rsquo;s Proxy Voting Committee exercised control and discretion over all rights
to vote or consent with respect to such securities, and the Adviser reduced its fee with respect to such securities by $8,013.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Fund pays retainer and per meeting fees to Directors not affiliated with the Adviser, plus specified amounts to the Lead Director
and Audit Committee Chairman. Directors are also reimbursed for out of pocket expenses incurred in attending meetings. Directors
who are directors or employees of the Adviser or an affiliated company receive no compensation or expense reimbursement from the
Fund.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>4.&ensp;
Portfolio Securities. </B>Purchases and sales of securities during the six months ended June 30, 2021, other than short term securities
and U.S. Government obligations, aggregated $89,596,943 and $149,867,915, respectively.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>5.&ensp;
Capital. </B>The Fund&rsquo;s Articles of Incorporation, as amended, permit the Fund to issue 337,024,900 shares of common stock
(par value $0.001) and authorizes the Board to increase its authorized shares from time to time. The Board has authorized the
repurchase of its shares on the open market when the shares are trading on the NYSE at a discount of 10% or more (or such other
percentage as the Board may determine from time to time) from the NAV of the shares. During the six months ended June 30, 2021
and the year ended December 31, 2020, the Fund did not repurchase any shares of its common stock in the open market.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Transactions
in shares of common stock were as follows:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="color: #12100B; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">Six Months Ended</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">June 30, 2021</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">Year Ended</FONT></TD><TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="color: #12100B; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">(Unaudited)</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="6" STYLE="color: #12100B; font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">December
    31, 2020</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="text-align: center; vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Amount</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Shares</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="color: #12100B; font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="color: #12100B; font-weight: bold; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Amount</FONT></TD><TD STYLE="padding-bottom: 1pt; color: #12100B; font-weight: bold"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 40%; color: #12100B; text-align: left; text-indent: -0.125in; padding-left: 0.125in"><FONT STYLE="font-size: 8pt">Net increase in net assets from common
    shares issued upon reinvestment of distributions</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">1,739,285</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 12%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">11,351,105</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 12%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">4,700,296</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD><TD STYLE="width: 1%; color: #12100B"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">$</FONT></TD><TD STYLE="width: 12%; color: #12100B; text-align: right"><FONT STYLE="font-size: 8pt">22,361,817</FONT></TD><TD STYLE="width: 1%; color: #12100B; text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Notes
to Financial Statements (Continued)</B></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Fund has an effective shelf registration authorizing the offering of an additional $500 million of common or preferred stock.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Fund&rsquo;s Articles of Incorporation, as amended, authorize the issuance of up to 18,000,000 shares of $0.001 par value Preferred
Stock. The Preferred Stock is senior to the common stock and results in the financial leveraging of the common stock. Such leveraging
tends to magnify both the risks and opportunities to common stockholders. Dividends on shares of the Preferred Stock are cumulative.
The Fund is required by the 1940 Act and by the Fund&rsquo;s Articles Supplementary to meet certain asset coverage tests with
respect to the Preferred Stock. If the Fund fails to meet these requirements and does not correct such failure, the Fund may be
required to redeem, in part or in full, the Series C, Series E, Series G, Series H, Series J, and Series K Preferred Stock at
redemption prices of $25,000, $25,000, $25, $25, $25, and $25, respectively, per share plus an amount equal to the accumulated
and unpaid dividends whether or not declared on such shares in order to meet these requirements. Additionally, failure to meet
the foregoing asset coverage requirements could restrict the Fund&rsquo;s ability to pay dividends to common stockholders and
could lead to sales of portfolio securities at inopportune times. The income received on the Fund&rsquo;s assets may vary in a
manner unrelated to the fixed and variable rates, which could have either a beneficial or detrimental impact on net investment
income and gains available to common stockholders.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">For
Series C and Series E Preferred Stock, the dividend rates, as set by the auction process that is generally held every seven days,
are expected to vary with short term interest rates. Since February 2008, the number of shares of Series C and Series E Preferred
Stock subject to bid orders by potential holders has been less than the number of shares of Series C and Series E Preferred Stock
subject to sell orders. Holders that have submitted sell orders have not been able to sell any or all of the Series C and Series
E Preferred Stock for which they have submitted sell orders. Therefore, the weekly auctions have failed, and the dividend rate
has been the maximum rate. For Series C and Series E Preferred Stock, the maximum auction rate is 175% of the &ldquo;AA&rdquo;
Financial Composite Commercial Paper Rate. Existing Series C and Series E stockholders may submit an order to hold, bid, or sell
such shares on each auction date, or trade their shares in the secondary market.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Fund may redeem at any time, in whole or in part, the Series C, Series E, Series G, and Series H Preferred Stock at their respective
liquidation prices plus any accrued and unpaid dividends. In addition, the Board has authorized the repurchase of the Series J
and Series K Preferred Stock in the open market at a price less than the $25 liquidation value per share. During the six months
ended June 30, 2021 and the year ended December 31, 2020, the Fund did not repurchase or redeem any shares of Series G, Series
H, or Series J Preferred Stock. During the six months ended June 30, 2021, the Fund did not repurchase any Preferred Stock.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Fund has the authority to purchase its auction rate Series C and Series E preferred shares through negotiated private transactions.
The Fund is not obligated to purchase any dollar amount or number of auction rate preferred shares, and the timing and amount
of any auction rate preferred shares purchased will depend on market conditions, share price, capital availability, and other
factors. The Fund is not soliciting holders to sell these shares nor recommending that holders offer them to the Fund. Any offers
can be accepted or rejected in the Fund&rsquo;s discretion.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Notes
to Financial Statements (Continued)</B></FONT></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 6pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
following table summarizes Cumulative Preferred Stock information:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: left; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Series</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Issue
    Date</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Authorized</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Number
    of</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><BR>
    <FONT STYLE="color: #12100B"><B>Shares</B></FONT><BR>
    <FONT STYLE="color: #12100B"><B>Outstanding at</B></FONT><BR>
    <FONT STYLE="color: #12100B"><B>6/30/2021</B></FONT></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Net
    Proceeds</B></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>2021
    Dividend</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><BR>
    <FONT STYLE="color: #12100B"><B>Rate Range</B></FONT></FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Arial, Helvetica, Sans-Serif; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Dividend</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><BR>
    <FONT STYLE="color: #12100B"><B>Rate at</B></FONT><BR>
    <FONT STYLE="color: #12100B"><B>6/30/2021</B></FONT></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B"><B>Accrued</B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt"><BR>
    <FONT STYLE="color: #12100B"><B>Dividends at</B></FONT><BR>
    <FONT STYLE="color: #12100B"><B>6/30/2021</B></FONT></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="width: 15%; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">C
    Auction Rate</FONT></TD>
    <TD STYLE="width: 20%; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">June
    27, 2002 &nbsp;</FONT></TD>
    <TD STYLE="width: 8%; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">4,812</FONT></TD>
    <TD STYLE="width: 11%; padding-right: 10pt; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">2,492</FONT></TD>
    <TD STYLE="width: 12%; padding-right: 10pt; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">$128,246,557</FONT></TD>
    <TD STYLE="width: 16%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">0.070%
    to 0.210%</FONT></TD>
    <TD STYLE="width: 9%; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">0.140%</FONT></TD>
    <TD STYLE="width: 9%; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">$239</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">E
    Auction Rate</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">October
    7, 2003 &nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">1,888</FONT></TD>
    <TD STYLE="padding-right: 10pt; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">1,108</FONT></TD>
    <TD STYLE="padding-right: 10pt; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">49,350,009</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">0.070%
    to 0.210%</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">0.140%</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">637</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">G
    5.000%</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">August
    1, 2012 &nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">3,280,302</FONT></TD>
    <TD STYLE="padding-right: 10pt; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">2,779,621</FONT></TD>
    <TD STYLE="padding-right: 10pt; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">69,407,417</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Fixed
    Rate</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">5.000&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">48,257</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">H
    5.000%</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">September
    28, 2012 &nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">4,198,880</FONT></TD>
    <TD STYLE="padding-right: 10pt; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">4,172,873</FONT></TD>
    <TD STYLE="padding-right: 10pt; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">100,865,695</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Fixed
    Rate</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">5.000&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">72,446</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">J
    5.450%</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #1D1D1B"></FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">March
    28, 2016 &nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">4,500,000</FONT></TD>
    <TD STYLE="padding-right: 10pt; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">3,200,000</FONT></TD>
    <TD STYLE="padding-right: 10pt; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">77,212,332</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Fixed
    Rate</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">5.450&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">60,556</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">K
    5.000%</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">December
    16, 2019 &nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">3,993,000</FONT></TD>
    <TD STYLE="padding-right: 10pt; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">3,993,000</FONT></TD>
    <TD STYLE="padding-right: 10pt; text-align: right; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">96,525,000</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">Fixed
    Rate</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">5.000&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; font: 10pt Arial, Helvetica, Sans-Serif; padding-right: 10pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #12100B">69,323</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
holders of Preferred Shares generally are entitled to one vote per share held on each matter submitted to a vote of stockholders
of the Fund and will vote together with holders of common stock as a single class. The holders of Preferred Shares voting together
as a single class also have the right currently to elect two Directors and, under certain circumstances, are entitled to elect
a majority of the Board of Directors. In addition, the affirmative vote of a majority of the votes entitled to be cast by holders
of all outstanding shares of the preferred shares, voting as a single class, will be required to approve any plan of reorganization
adversely affecting the preferred stock, and the approval of two-thirds of each class, voting separately, of the Fund&rsquo;s
outstanding voting stock must approve the conversion of the Fund from a closed-end to an open-end investment company. The approval
of a majority (as defined in the 1940 Act) of the outstanding preferred shares and a majority (as defined in the 1940 Act) of
the Fund&rsquo;s outstanding voting securities are required to approve certain other actions, including changes in the Fund&rsquo;s
investment objectives or fundamental investment policies.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #1D1D1B"><B>6.&ensp;
Indemnifications. </B></FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: #12100B">The Fund
enters into contracts that contain a variety of indemnifications. The Fund&rsquo;s maximum exposure under these arrangements is
unknown. However, the Fund has not had prior claims or losses pursuant to these contracts. Management has reviewed the Fund&rsquo;s
existing contracts and expects the risk of loss to be remote.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>7.&ensp;
Subsequent Events. </B>On May 19, 2021, the Board announced a rights offering (the Offering) with a record date of June 22, 2021
and an expiration date of July 14, 2021. Under the terms of the Offering, each record date shareholder received one transferable
right (the Right) for each share of common stock held. Ten Rights plus $5.50 were required to purchase one additional share of
common stock (the Primary Subscription). Record date shareholders who fully exercised their Primary Subscription Rights were eligible
for an over-subscription privilege entitling these shareholders to subscribe, subject to certain limitations and a pro-rata allotment,
for any additional shares of common stock not purchased pursuant to the Primary Subscription. Rights acquired in the secondary
market were ineligible to participate in the over-subscription privilege. On July 21, 2021, the Fund issued 26,266,993 shares,
receiving $143,868,461 after deduction of estimated offering expenses of $600,000.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Management
has evaluated the impact on the Fund of all other subsequent events occurring through the date the financial statements were issued
and has determined that there were no other subsequent events requiring recognition or disclosure in the financial statements.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Notes
to Financial Statements (Continued)</B></FONT></P>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font: 12pt Arial, Helvetica, Sans-Serif"><B></B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Certifications</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Fund&rsquo;s Chief Executive Officer has certified to the New York Stock Exchange (NYSE) that, as of June 7, 2021, he was not
aware of any violation by the Fund of applicable NYSE corporate governance listing standards. The Fund reports to the SEC on Form
N-CSR which contains certifications by the Fund&rsquo;s principal executive officer and principal financial officer that relate
to the Fund&rsquo;s disclosure in such reports and that are required by Rule 30a-2(a) under the 1940 Act.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Shareholder
Meeting &ndash; May 10, 2021 &ndash; Final Results</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Fund&rsquo;s Annual Meeting of Stockholders was held virtually on May 10, 2021. At that meeting, common and preferred stockholders,
voting together as a single class, elected Elizabeth C. Bogan, Michael J. Ferrantino, and Agnes N. Mullady as Directors of the
Fund, with 188,264,665, 188,411,212, and 188,316,931 votes cast in favor of these Directors, and 4,762,163, 4,615,616, and 4,709,897
votes withheld for these Directors, respectively.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
addition, preferred stockholders, voting as a separate class, elected James P. Conn as Director of the Fund. A total of 9,659,468
votes were cast in favor of this Director and a total of 469,680 votes were withheld for this Director.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Mario
J. Gabelli, Frank J. Fahrenkopf, Leslie F. Foley, William F. Heitmann, Kuni Nakamura, and Salvatore J. Zizza continue to serve
in their capacities as Directors of the Fund.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">We
thank you for your participation and appreciate your continued support.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT>&nbsp;</P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Board
Consideration and Re-Approval of Investment Advisory Agreement (Unaudited)</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 40pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Section
15(c) of the 1940 Act, as amended, contemplates that the Board of The Gabelli Equity Trust Inc. including a majority of the Directors
who have no direct or indirect interest in the investment advisory agreement and are not &ldquo;interested persons&rdquo; of the
Fund, as defined in the 1940 Act (the Independent Board Members), are required to annually review and re-approve the terms of
the Fund&rsquo;s existing investment advisory agreement and approve any newly proposed terms therein. In this regard, the Board
reviewed and re-approved, during the most recent six month period covered by this report, the Investment Advisory Agreement (the
Advisory Agreement) with the Adviser for the Fund.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">More
specifically, at a meeting held on May 12, 2021, the Board, including the Independent Board Members, considered the factors and
reached the conclusions described below relating to the selection of the Adviser and the re-approval of the Advisory Agreement.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Nature,
Extent, and Quality of Services</B>. The Independent Board Members considered information regarding the portfolio managers, the
depth of the analyst pool available to the Adviser and the portfolio managers, the nature, quality and extent of administrative
and shareholder services supervised or provided by the Adviser, including portfolio management, supervision of Fund operations
and compliance and regulatory filings and disclosures to shareholders, general oversight of other service providers, review of
Fund legal issues, assisting the Independent Board Members in their capacity as directors, and other services, and the absence
of significant service problems reported to the Board. The Independent Board Members concluded that the services are extensive
in nature and that the Adviser consistently delivered a high level of service.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Investment
Performance of the Fund and Adviser</B>. The Independent Board Members considered short term and long term investment performance
for the Fund over various periods of time as compared with relevant equity indices and the performance of other closed-end funds
included in the Broadridge peer category. The Board noted that the Fund&rsquo;s total return performance (i) for the one, five,
and ten year periods ended March 31, 2021 was above the average for a select group of peers, (ii) for the three year period ended
March 31, 2021 was below the average and equal to the median for a select group of peers, and for the one, three, five, and ten
year periods ended March 31, 2021 was above the average and median for the Fund&rsquo;s Broadridge peer group category. The Independent
Board Members concluded that the Adviser was delivering satisfactory performance results consistent with the investment strategies
being pursued by the Fund and disclosed to investors.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Costs
of Services and Profits Realized by the Adviser.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(a)
Costs of Services to Fund: Fees and Expenses</B>. The Independent Board Members considered the Fund&rsquo;s advisory fee rate
and expense ratio relative to industry averages for the Fund&rsquo;s Broadridge peer group category and the advisory fees charged
by the Adviser and its affiliates to other fund and non-fund clients. The Independent Board Members considered the Adviser&rsquo;s
fee structure as compared to that of the Adviser&rsquo;s affiliate, GAMCO Asset Management Inc. (GAMCO), for services provided
to institutional and high net worth accounts and in connection with subadvisory arrangements, noting that the service level for
GAMCO accounts and subadvisory relationships is materially different from the services provided by the Adviser to its registered
funds and investors in such funds, which is reflected in the difference in fee structure. The Independent Board Members noted
that the mix of services under the Advisory Agreement is more extensive than those under the advisory agreements for non-fund
clients. The Independent Board Members noted that the other non-advisory expenses paid by the Fund are above the average and median
for the Fund&rsquo;s Broadridge peer group category</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.25in; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Board
Consideration and Re-Approval of Investment Advisory Agreement (Unaudited) (Continued)</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 10pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">and
below the average and median for a select group of peers, and that management and gross advisory fees and total expenses were
above the average and median of the Broadridge peer group range and a select group of peers. They took note of the fact that the
use of leverage impacts comparative expenses to peer funds, not all of which utilize leverage. The Independent Board Members were
aware that the Adviser waives its fee on the incremental liquidation value of the Fund&rsquo;s Series C and Series E Preferred
Stock during the Fund&rsquo;s fiscal year if the total return on NAV of the common stock, including distributions and advisory
fee subject to reduction for that year, does not exceed the stated dividend rate for the Series C and Series E Preferred Stock,
as applicable, for the year, and that the comparative total expense ratio and other expense information reflected these waivers,
if applicable. The Independent Board Members concluded that the advisory fee is not excessive based upon the qualifications, experience,
reputation, and performance of the Adviser and the other factors considered.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(b)
Profitability and Costs of Services to Adviser</B>. The Independent Board Members considered the Adviser&rsquo;s overall profitability
and costs. The Independent Board Members referred to the Board Materials for the pro forma income statements for the Adviser and
the Fund for the period ended December 31, 2020. They noted the pro forma estimates of the Adviser&rsquo;s profitability and costs
attributable to the Fund. The Independent Board Members also considered whether the amount of profit is a fair entrepreneurial
profit for the management of the Fund and noted that the Adviser has continued to increase its resources devoted to Fund matters,
including portfolio management resources, in response to regulatory requirements and new or enhanced Fund policies and procedures.
The Independent Board Members concluded that the profitability to the Adviser of managing the Fund was not excessive.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Extent
of Economies of Scale as Fund Grows</B>. The Independent Board Members considered whether there have been economies of scale with
respect to the management of the Fund and whether the Fund has appropriately benefited from any economies of scale. The Independent
Board Members noted that, although the ability of the Fund to realize economies of scale through growth is more limited than for
an open-end fund, economies of scale may develop for certain funds as their assets increase and their fund level expenses decline
as a percentage of assets, but that fund level economies of scale may not necessarily result in Adviser level economies of scale.
The Board Members were aware that economies can be shared through an adviser&rsquo;s investment in its fund advisory business
and noted the Adviser&rsquo;s increase in personnel and resources devoted to the Gabelli fund complex in recent years, which could
benefit the Fund.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Whether
Fee Levels Reflect Economies of Scale</B>. The Independent Board Members also considered whether the advisory fee rate is reasonable
in relation to the asset size of the Fund and any economies of scale that may exist, and concluded that the Fund&rsquo;s current
fee schedule (without breakpoints) was considered reasonable, particularly in light of the Fund&rsquo;s performance over time.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Other
Relevant Considerations.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(a)
Adviser Personnel and Methods</B>. The Independent Board Members considered the size, education, and experience of the Adviser&rsquo;s
staff, the Adviser&rsquo;s fundamental research capabilities, and the Adviser&rsquo;s approach to recruiting, training, and retaining
portfolio managers and other research and management personnel and concluded that, in each of these areas, the Adviser was structured
in such a way to support the high level of services being provided to the Fund.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 2.25in; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>The
Gabelli Equity Trust Inc.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Board
Consideration and Re-Approval of Investment Advisory Agreement (Unaudited) (Continued)</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 10pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>(b)
Other Benefits to the Adviser</B>. The Independent Board Members also considered the character and amount of other incidental
benefits received by the Adviser and its affiliates from its association with the Fund. The Independent Board Members considered
the brokerage commissions paid to an affiliate of the Adviser. The Independent Board Members concluded that potential fall-out
benefits that the Adviser and its affiliates may receive, such as brokerage commissions paid to an affiliated broker, greater
name recognition, or increased ability to obtain research services, appear to be reasonable and may in some cases benefit the
Fund.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Conclusions
</B>In considering the Advisory Agreement, the Independent Board Members did not identify any factor as all-important or all-controlling,
and instead considered these factors collectively in light of the Fund&rsquo;s surrounding circumstances. Based on this review,
it was the judgment of the Independent Board Members that shareholders had received satisfactory absolute and relative performance
over time consistent with the investment strategies being pursued by the Fund at reasonable fees and, therefore, continuation
of the Advisory Agreement was in the best interests of the Fund and its shareholders. As a part of its decision making process,
the Independent Board Members noted that the Adviser has managed the Fund since its inception, and the Independent Board Members
believe that a long term relationship with a capable, conscientious adviser is in the best interests of the Fund. The Independent
Board Members considered, generally, that shareholders invested in the Fund knowing that the Adviser manages the Fund and are
aware of its investment advisory fee. As such, the Independent Board Members considered, in particular, whether the Adviser managed
the Fund in accordance with its investment objectives and policies as disclosed to shareholders. The Independent Board Members
concluded that the Fund was managed by the Adviser in a manner consistent with its investment objectives and policies. The Independent
Board Members also confirmed that they were satisfied with the information provided by the Adviser, that it included all information
the Independent Board Members believed was necessary to evaluate the terms of the Advisory Agreement, and that the Independent
Board Members were satisfied that any questions they had were appropriately addressed. On the basis of the foregoing and without
assigning particular weight to any single conclusion, the Independent Board Members determined to recommend continuation of the
Advisory Agreement to the full Board.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 1pt 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Based
on a consideration of all these factors in their totality, the Board Members, including all of the Independent Board Members,
determined that the Fund&rsquo;s advisory fee was fair and reasonable with respect to the nature and quality of services provided
and in light of the other factors described above that the Board deemed relevant. Accordingly, the Board Members determined to
approve the continuation of the Fund&rsquo;s Advisory Agreement.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>
<center>
<div STYLE="BORDER:solid BLACK 2PX;padding-left:2%;padding-Right:2%;padding-top:1%;padding-bottom:1%;width:96%">
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>THE
GABELLI EQUITY TRUST INC.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>AND
YOUR PERSONAL PRIVACY</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 136pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Who
are we?</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Gabelli Equity Trust Inc. is a closed-end management investment company registered with the Securities and Exchange Commission
under the Investment Company Act of 1940. We are managed by Gabelli Funds, LLC, which is affiliated with GAMCO Investors, Inc.,
a publicly held company that has subsidiaries that provide investment advisory services for a variety of clients.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>What
kind of non-public information do we collect about you if you become a fund shareholder?</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">When
you purchase shares of the Fund on the New York Stock Exchange, you have the option of registering directly with our transfer
agent in order, for example, to participate in our dividend reinvestment plan.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Information
you give us on your application form.</I> This could include your name, address, telephone number, social security number, bank
account number, and other information.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: -9pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: #1D1D1B; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><I>Information
about your transactions with us.</I> This would include information about the shares that you buy or sell; it may also include
information about whether you sell or exercise rights that we have issued from time to time. If we hire someone else to provide
services &mdash; like a transfer agent &mdash; we will also have information about the transactions that you conduct through them.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 9pt; text-align: justify; text-indent: -9pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>What
information do we disclose and to whom do we disclose it?</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">We
do not disclose any non-public personal information about our customers or former customers to anyone other than our affiliates,
our service providers who need to know such information, and as otherwise permitted by law. If you want to find out what the law
permits, you can read the privacy rules adopted by the Securities and Exchange Commission. They are in volume 17 of the Code of
Federal Regulations, Part 248. The Commission often posts information about its regulations on its website, www. sec.gov.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>What
do we do to protect your personal information?</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">We
restrict access to non-public personal information about you to the people who need to know that information in order to provide
services to you or the fund and to ensure that we are complying with the laws governing the securities business. We maintain physical,
electronic, and procedural safeguards to keep your personal information confidential.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>
</div>
</center>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>THE
GABELLI EQUITY TRUST INC.</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>One
Corporate Center</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Rye,
NY 10580-1422</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 95pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 12pt"><B>Portfolio
Management Team Biographies</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 40pt; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="width: 18%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><IMG SRC="gb60gab001.jpg" ALT=""><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 82%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B"><B>Mario
    J. Gabelli, CFA, </B>is Chairman, Chief Executive Officer, and Chief Investment Officer - Value Portfolios of GAMCO Investors,
    Inc. that he founded in 1977, and Chief Investment Officer - Value Portfolios of Gabelli Funds, LLC and GAMCO Asset Management
    Inc. He is also Executive Chairman of Associated Capital Group, Inc. Mr. Gabelli is a summa cum laude graduate of Fordham
    University and holds an MBA degree from Columbia Business School and Honorary Doctorates from Fordham University and Roger
    Williams University.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><IMG SRC="gb60gab002.jpg" ALT=""><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B"><B>Christopher
    J. Marangi </B>joined Gabelli in 2003 as a research analyst. Currently he is a Managing Director and Co-Chief Investment Officer
    for GAMCO Investors, Inc.&rsquo;s Value team. In addition, he serves as a portfolio manager of Gabelli Funds, LLC and manages
    several funds within the Fund Complex. Mr. Marangi graduated magna cum laude and Phi Beta Kappa with a BA in Political Economy
    from Williams College and holds an MBA degree with honors from Columbia Business School.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><IMG SRC="gb60gab003.jpg" ALT="">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B"><B>Kevin
    V. Dreyer </B>joined Gabelli in 2005 as a research analyst covering companies within the consumer sector. Currently he is
    a Managing Director and Co-Chief Investment Officer for GAMCO Investors, Inc.&rsquo;s Value team. In addition, he serves as
    a portfolio manager of Gabelli Funds, LLC and manages several funds within the Fund Complex. Mr. Dreyer received a BSE from
    the University of Pennsylvania and an MBA degree from Columbia Business School.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><IMG SRC="gb60gab004.jpg" ALT="">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B"><B>Howard
    F. Ward, CFA, </B>joined Gabelli Funds in 1995 and currently serves as GAMCO&rsquo;s Chief Investment Officer of Growth Equities
    as well as a Gabelli Funds, LLC portfolio manager for several funds within the Fund Complex. Prior to joining Gabelli, Mr.
    Ward served as Managing Director and Lead Portfolio Manager for several Scudder mutual funds. He also was an Investment Officer
    in the Institutional Investment Department with Brown Brothers, Harriman &amp; Co. Mr. Ward received his BA in Economics from
    Northwestern University.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-size: 9pt">&nbsp;</FONT></TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="width: 18%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><IMG SRC="gb60gab005.jpg" ALT="">&nbsp;</FONT></TD>
    <TD STYLE="width: 82%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B"><B>Robert
    D. Leininger, CFA, </B>joined GAMCO Investors, Inc. in 1993 as an equity analyst. Subsequently, he was a partner and portfolio
    manager at Rorer Asset Management before rejoining GAMCO in 2010 where he currently serves as a portfolio manager of Gabelli
    Funds, LLC. Mr. Leininger is a magna cum laude graduate of Amherst College with a degree in Economics and holds an MBA degree
    from the Wharton School at the University of Pennsylvania.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><IMG SRC="gb60gab006.jpg" ALT="">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B"><B>Daniel
    M. Miller </B>currently serves as a portfolio manager of Gabelli Funds, LLC and is also a Managing Director of GAMCO Investors,
    Inc. Mr. Miller joined the Firm in 2002 and graduated magna cum laude with a degree in Finance from the University of Miami
    in Coral Gables, Florida.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><IMG SRC="gb60gab007.jpg" ALT="">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B"><B>Jennie
    Tsai </B>joined Gabelli in 2001 as a research analyst responsible for the healthcare and medical products industries. At Gabelli,
    Ms. Tsai is focused on medical sectors, including dental, orthopedics, diagnostics, dermatology, and ophthalmology. She received
    a BS in Commerce at the University of Virginia and an MBA from Columbia Business School.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><IMG SRC="gb60gab008.jpg" ALT="">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B"><B>Ian
    Lapey </B>joined Gabelli in October 2018 as a portfolio manager. Prior to joining Gabelli, Mr. Lapey was a research analyst
    and partner at Moerus Capital Management LLC. Prior to joining Moerus, he was a partner, research analyst, and a portfolio
    manager at Third Avenue Management. Mr. Lapey holds an MBA in Finance and Statistics from the Stern School of Business at
    New York University. He also holds a Master&rsquo;s degree in Accounting from Northeastern University and a BA in Economics
    from Williams College.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><IMG SRC="gb60gab009.jpg" ALT="">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B"><B>Ashish
    Sinha </B>joined GAMCO UK in 2012 as a research analyst. Prior to joining the Firm, Mr. Sinha was a research analyst at Morgan
    Stanley in London for seven years and has covered European Technology, Mid-Caps and Business Services. He also worked in planning
    and strategy at Birla Sun Life Insurance in India. Currently Mr. Sinha is a portfolio manager of Gabelli Funds, LLC and an
    Assistant Vice President of GAMCO Asset Management UK. Mr. Sinha has a BSBA degree from the Institute of Management Studies
    and an MB from IIFT.</FONT></TD></TR>
</TABLE>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="width: 18%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><IMG SRC="gb60gab010.jpg" ALT="">&nbsp;</FONT></TD>
    <TD STYLE="width: 82%; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B"><B>Gustavo
    Pifano </B>joined the Firm in 2008 and is based in London. He serves as an assistant vice president of research and covers
    the industrial and consumer sectors with a focus on small-cap stocks. Gustavo is a member of the risk management group and
    responsible for the Firm&rsquo;s UK compliance oversight and AML reporting functions. Gustavo holds a BBA in Finance from
    University of Miami and an MBA from University of Oxford Said Business School.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><IMG SRC="gb60gab011.jpg" ALT="">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B"><B>Hendi
    Susanto </B>joined Gabelli in 2007 as the lead technology research analyst. He spent his early career in supply chain management
    consulting and operations in the technology industry. He currently is a portfolio manager of Gabelli Funds, LLC and a Vice
    President of Associated Capital Group Inc. Mr. Susanto received a BS degree summa cum laude from the University of Minnesota,
    an MS from Massachusetts Institute of Technology, and an MBA from the Wharton School of Business.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><IMG SRC="gb60gab012.jpg" ALT="">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B"><B>Sara
    E. Wojda </B>joined the Firm in 2014 as a research analyst and covers the Diagnostics and Life Sciences industries. Since
    moving to London in 2018, she has expanded the Firm&rsquo;s global healthcare coverage and assisted with Gabelli&rsquo;s UK
    based funds. Sara graduated summa cum laude from Babson College with a BS in Business Management, double majoring in Economics
    and Accounting.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><IMG SRC="gb60gab013.jpg" ALT="">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B"><B>Joseph
    Gabelli </B>rejoined GAMCO Investors, Inc. in 2018 after serving as a data strategy consultant for Alt/S, an early stage Boston
    based healthcare, media and marketing analytics firm, beginning in July 2017. From 2008 until June 2017, Joseph served as
    an equity research analyst covering the global food and beverage industry for GAMCO Investors, Inc. and its affiliate, Associated
    Capital Group. He began his investment career at Integrity Capital Management, a Boston-based equity hedge fund, where he
    focused on researching small and micro-cap companies in the technology, healthcare and consumer discretionary sectors. Joseph
    holds a BA from Boston College and an MBA from Columbia Business School, where he graduated with Dean&rsquo;s Honors and Distinction.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt"><IMG SRC="gb60gab014.jpg" ALT="">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B"><B>Gordon
    Grender </B>recently joined GAMCO UK, having previously served as the portfolio manager for a US equity fund at GAM International
    Ltd.</FONT></TD></TR>
</TABLE>

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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="5" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="width: 100%; border: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: rgb(29,29,27)">We
    have separated the portfolio managers&rsquo; commentary from the financial statements and investment portfolio due to corporate
    governance regulations stipulated by the Sarbanes-Oxley Act of 2002. We have done this to ensure that the contents of the
    portfolio managers&rsquo; commentary are unrestricted. Both the commentary and the financial statements, including the portfolio
    of investments, will be available on our website at www.gabelli.com.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">The
Net Asset Value per share appears in the Publicly Traded Funds column, under the heading &ldquo;General Equity Funds,&rdquo; in
Monday&rsquo;s The Wall Street Journal. It is also listed in Barron&rsquo;s Mutual Funds/Closed End Funds section under the heading
&ldquo;General Equity Funds.&rdquo;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: justify; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Net Asset Value per share may be obtained each day by calling (914) 921-5070 or visiting www.gabelli.com.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
NASDAQ symbol for the Net Asset Value is &ldquo;XGABX.&rdquo;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="5" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="width: 100%; border: Black 1pt solid; font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: rgb(29,29,27)">Notice
    is hereby given in accordance with Section 23(c) of the Investment Company Act of 1940, as amended, that the Fund may, from
    time to time, purchase its common shares in the open market when the Fund&rsquo;s shares are trading at a discount of 10%
    or more from the net asset value of the shares. The Fund may also, from time to time, purchase its preferred shares in the
    open market when the preferred shares are trading at a discount to the liquidation value.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #005894"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>
<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:48%">
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #005894"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;THE
GABELLI EQUITY TRUST INC.&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">One
Corporate Center&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">Rye,
New York 10580-1422</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #1D1D1B"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #005894">t</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B">800-GABELLI
                                         (800-422-3554)</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #005894">f</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B">914-921-5118</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #005894">e</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #1D1D1B">info@gabelli.com</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.25in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: #005894">GABELLI.COM&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0.25in"><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif; color: #005894">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; border-bottom: rgb(0,88,148) 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; border-bottom: rgb(0,88,148) 1pt solid"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="width: 50%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: rgb(0,88,148)">DIRECTORS</FONT></TD>
    <TD STYLE="width: 50%; font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: Black">Salvatore
    J. Zizza</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Chairman,</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Mario
    J. Gabelli, CFA</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Zizza
    &amp; Associates Corp.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Chairman
    and</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Chief
    Executive Officer,</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: rgb(0,88,148)">OFFICERS</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">GAMCO
    Investors, Inc.</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Executive
    Chairman,</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Bruce
    N. Alpert</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Associated
    Capital Group Inc.</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">President</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Elizabeth
    C. Bogan</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">John
    C. Ball</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Senior
    Lecturer in Economics,</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Treasurer</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Princeton
    University</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Peter
    Goldstein</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">James
    P. Conn</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Secretary
    &amp; Vice President</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Former
    Managing Director &amp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Chief
    Investment Officer,</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Richard
    J. Walz</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Financial
    Security Assurance</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Chief
    Compliance Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Holdings
    LTD.</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Molly
    A.F. Marion</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Frank
    J. Fahrenkopf, Jr.</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Vice
    President &amp; Ombudsman</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Former
    President &amp; Chief</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Executive
    Officer,</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Carter
    W. Austin</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">American
    Gaming Association</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Vice
    President</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Michael
    J. Ferrantino</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">David
    I. Schachter</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Chief
    Executive Officer,</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Vice
    President</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">InterEx,
    Inc.</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: rgb(0,88,148)">INVESTMENT
    ADVISER</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Leslie
    F. Foley</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Attorney,</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Gabelli
    Funds, LLC</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Addison
    Gallery of American Art</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">One
    Corporate Center</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Rye,
    New York 10580-1422</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">William
    F. Heitmann</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Former
    Senior Vice President</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: rgb(0,88,148)">CUSTODIAN</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">of
    Finance,</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Verizon
    Communications, Inc.</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">The
    Bank of New York Mellon</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Agnes
    Mullady</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: rgb(0,88,148)">COUNSEL</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Former
    Senior Vice President,</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">GAMCO
    Investors Inc.</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Willkie
    Farr &amp; Gallagher LLP</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">&nbsp;</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">Kuni
    Nakamura</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: rgb(0,88,148)">TRANSFER
    AGENT AND</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">President,</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt; color: rgb(0,88,148)">REGISTRAR</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Advanced
    Polymer, Inc.</FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black"></FONT></TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: black">Computershare
    Trust Company, N.A.</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 8pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; padding-bottom: 8pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Arial, Helvetica, Sans-Serif">
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; border-bottom: rgb(0,88,148) 1pt solid">&nbsp;</TD>
    <TD STYLE="font: 10pt Arial, Helvetica, Sans-Serif; border-bottom: rgb(0,88,148) 1pt solid">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #005894"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 9pt">GAB
Q2/2021</FONT></P>
</DIV>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT;WIDTH:48%">
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #005894; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;<IMG SRC="gb60gab015.jpg" ALT=""></FONT></P>
</DIV>
<BR CLEAR="ALL">
<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; color: #005894"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD>Not applicable.</TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 2. Code of Ethics.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 3. Audit Committee Financial Expert.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 4. Principal Accountant Fees and Services.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5. Audit Committee of Listed Registrants.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 6. Investments.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 22.5pt"><FONT STYLE="font-weight: normal">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-weight: normal">Schedule of Investments in securities of unaffiliated issuers
as of the close of the reporting period is included as part of the report to shareholders filed under Item 1 of this form.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 22.5pt">(b)</TD><TD>Not applicable.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-indent: -40.5pt"><B>Item 7. Disclosure of Proxy
Voting Policies and Procedures for Closed-End Management Investment Companies.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-indent: -40.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8. Portfolio Managers of Closed-End Management Investment
Companies.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective August 1, 2021, Macrae Sykes
was added to the Fund&rsquo;s portfolio management team.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Macrae (Mac) Sykes covers the global financial
services sector and joined the firm as an analyst in 2008. He has nearly 25 years of industry experience and began his career at
Donaldson, Lufkin &amp; Jenrette.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mac was ranked #1 investment services analyst
by the Wall Street Journal in 2010, was a runner-up in the annual StarMine analyst awards for stock picking in 2014 and 2018, received
several honorable mentions for brokers and asset managers from Institutional Investor and was a contributing author to The Warren
Buffett Shareholder: Stories from inside the Berkshire Hathaway Annual Meeting by Lawrence Cunningham and Stephanie Cuba.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Mac holds a BA in economics from Hamilton
College and an MBA in finance from Columbia Business School.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Information provided as of December 31, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The table below shows the number of other
accounts managed by the portfolio manager and the total assets in each of the following categories: registered investment companies,
other paid investment vehicles and other accounts. For each category, the table also shows the number of accounts and the total
assets in the accounts with respect to which the advisory fee is based on account performance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Name of Portfolio Manager</FONT></TD>
    <TD STYLE="white-space: nowrap; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Type of accounts</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">Total #<BR>
 managed</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">Total assets</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">No. of<BR>
 Accounts<BR>
 where<BR>
 Advisory<BR>
 Fee is Based on Performance</FONT></TD>
    <TD STYLE="text-align: center; vertical-align: bottom"><FONT STYLE="font-size: 10pt">Total Assets<BR>
 with<BR>
 Advisory<BR>
 Fee Based<BR>
 on Performance</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-size: 10pt">Macrae Sykes</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Registered Investment Companies</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$0</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="white-space: nowrap; border-top: Black 1pt solid; border-right: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">$0</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; padding-left: 5.4pt; border-left: Black 1pt solid"><FONT STYLE="font-size: 10pt">Other Pooled Investment Vehicles</FONT></TD>
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$0</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="white-space: nowrap; text-align: center; border-right: Black 1pt solid"><FONT STYLE="font-size: 10pt">$0</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="white-space: nowrap">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt">Other accounts</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">13 </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; white-space: nowrap; text-align: center"><FONT STYLE="font-size: 10pt">$2.1 million</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">0</FONT></TD>
    <TD STYLE="white-space: nowrap; border-bottom: Black 1pt solid; text-align: center; border-right: Black 1pt solid"><FONT STYLE="font-size: 10pt">$0</FONT></TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="width: 19%">&nbsp;</TD>
    <TD STYLE="width: 32%; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 9%">&nbsp;</TD>
    <TD STYLE="width: 14%">&nbsp;</TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD>
    <TD STYLE="width: 11%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-indent: -40.5pt"><B>Item 9. Purchases of Equity
Securities by Closed-End Management Investment Company and Affiliated Purchasers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 40.5pt; text-indent: -40.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>REGISTRANT PURCHASES
OF EQUITY SECURITIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; font-size: 10pt; width: 15%; padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; border-top: Gray 1pt solid"><FONT STYLE="font-size: 10pt"><B>Period </B></FONT></TD>
    <TD STYLE="width: 20%; text-align: center; font-size: 10pt; padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; border-top: Gray 1pt solid"><FONT STYLE="font-size: 10pt"><B>(a) Total Number of<BR>
 Shares (or Units)<BR>
 Purchased</B></FONT></TD>
    <TD STYLE="width: 20%; text-align: center; font-size: 10pt; padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; border-top: Gray 1pt solid"><FONT STYLE="font-size: 10pt"><B>(b) Average Price<BR>
 Paid per Share (or<BR>
 Unit)</B></FONT></TD>
    <TD STYLE="width: 20%; text-align: center; font-size: 10pt; padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; border-top: Gray 1pt solid"><FONT STYLE="font-size: 10pt"><B>(c) Total Number of<BR>
 Shares (or Units)<BR>
 Purchased as Part of<BR>
 Publicly Announced<BR>
 Plans or Programs</B></FONT></TD>
    <TD STYLE="width: 25%; text-align: center; font-size: 10pt; padding-bottom: 10pt; border: Gray 1pt solid"><FONT STYLE="font-size: 10pt"><B>(d) Maximum Number (or<BR>
 Approximate Dollar Value) of<BR>
 Shares (or Units) that May<BR>
 Yet Be Purchased Under the<BR>
 Plans or Programs</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Month #1<BR>
        01/01/2021<BR>
 through<BR>
 01/31/2021</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; N/A<BR>
        <BR>
        Preferred Series K &ndash;N/A<BR>
        <BR>
        Preferred Series G &ndash; N/A<BR>
        <BR>
        Preferred Series H &ndash; N/A<BR>
        <BR>
        Preferred Series J &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; N/A<BR>
        <BR>
        Preferred Series K &ndash;N/A<BR>
        <BR>
        Preferred Series G &ndash; N/A<BR>
        <BR>
        Preferred Series H &ndash; N/A<BR>
        <BR>
        Preferred Series J &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; N/A<BR>
        <BR>
        Preferred Series K &ndash;N/A<BR>
        <BR>
        Preferred Series G &ndash; N/A<BR>
        <BR>
        Preferred Series H &ndash; N/A<BR>
        <BR>
        Preferred Series J &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; border-right: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash;261,772,335<BR>
        <BR>
        Preferred Series K &ndash; 3,993,000<BR>
        <BR>
        Preferred Series G &ndash; 2,779,621<BR>
        <BR>
        Preferred Series H &ndash; 4,172,873<BR>
        <BR>
        Preferred Series J &ndash; 3,200,000</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="font-size: 10pt; padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid"><FONT STYLE="font-size: 10pt">Month #2</FONT><BR>
<FONT STYLE="font-size: 10pt">02/01/2021<BR>
 through<BR>
 02/28/2021</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; N/A<BR>
        <BR>
        Preferred Series K &ndash;N/A<BR>
        <BR>
        Preferred Series G &ndash; N/A<BR>
        <BR>
        Preferred Series H &ndash; N/A<BR>
        <BR>
        Preferred Series J &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid"><FONT STYLE="font-size: 10pt">Common &ndash; N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series K &ndash;N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series G &ndash; N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series H &ndash; N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series J &ndash; N/A</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; N/A<BR>
        <BR>
        Preferred Series K &ndash;N/A<BR>
        <BR>
        Preferred Series G &ndash; N/A<BR>
        <BR>
        Preferred Series H &ndash; N/A<BR>
        <BR>
        Preferred Series J &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; border-right: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; 261,772,335<BR>
        <BR>
        Preferred Series K &ndash; 3,993,000<BR>
        <BR>
        Preferred Series G &ndash; 2,779,796<BR>
        <BR>
        Preferred Series H &ndash; 4,172,873<BR>
        <BR>
        Preferred Series J &ndash; 3,200,000</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="font-size: 10pt; padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; width: 15%; border-top: Black 1pt solid"><FONT STYLE="font-size: 10pt">Month #3</FONT><BR>
<FONT STYLE="font-size: 10pt">03/01/2021<BR>
 through<BR>
 03/31/2021</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; width: 20%; border-top: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; N/A<BR>
        <BR>
        Preferred Series K &ndash;N/A<BR>
        <BR>
        Preferred Series G &ndash; N/A<BR>
        <BR>
        Preferred Series H &ndash; N/A<BR>
        <BR>
        Preferred Series J &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Preferred Series E &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; width: 20%; border-top: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; N/A<BR>
        <BR>
        Preferred Series K &ndash;N/A<BR>
        <BR>
        Preferred Series G &ndash; N/A<BR>
        <BR>
        Preferred Series H &ndash; N/A<BR>
        <BR>
        Preferred Series J &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Preferred Series E &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; width: 20%; border-top: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; N/A<BR>
        <BR>
        Preferred Series K &ndash;N/A<BR>
        <BR>
        Preferred Series G &ndash; N/A<BR>
        <BR>
        Preferred Series H &ndash; N/A<BR>
        <BR>
        Preferred Series J &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Preferred Series E &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; border-right: Gray 1pt solid; width: 25%; border-top: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; 262,669,923<BR>
        <BR>
        Preferred Series K &ndash; 3,993,000<BR>
        <BR>
        Preferred Series G &ndash; 2,779,621<BR>
        <BR>
        Preferred Series H &ndash; 4,172,873<BR>
        <BR>
        Preferred Series J &ndash; 3,200,000</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Month #4<BR>
        04/01/2021<BR>
 through<BR>
 04/30/2021</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; N/A<BR>
        <BR>
        Preferred Series K &ndash;N/A<BR>
        <BR>
        Preferred Series G &ndash; N/A<BR>
        <BR>
        Preferred Series H &ndash; N/A<BR>
        <BR>
        Preferred Series J &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; N/A<BR>
        <BR>
        Preferred Series K &ndash;N/A<BR>
        <BR>
        Preferred Series G &ndash; N/A<BR>
        <BR>
        Preferred Series H &ndash; N/A<BR>
        <BR>
        Preferred Series J &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; N/A<BR>
        <BR>
        Preferred Series K &ndash;N/A<BR>
        <BR>
        Preferred Series G &ndash; N/A<BR>
        <BR>
        Preferred Series H &ndash; N/A<BR>
        <BR>
        Preferred Series J &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; border-right: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash;262,669,923<BR>
        <BR>
        Preferred Series K &ndash; 3,993,000<BR>
        <BR>
        Preferred Series G &ndash; 2,779,621<BR>
        <BR>
        Preferred Series H &ndash; 4,172,873<BR>
        <BR>
        Preferred Series J &ndash; 3,200,000</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="font-size: 10pt; padding-bottom: 10pt; width: 15%; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; border-top: Gray 1pt solid"><FONT STYLE="font-size: 10pt">Month #5</FONT><BR>
<FONT STYLE="font-size: 10pt">05/01/2021<BR>
 through<BR>
 05/31/2021</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 10pt; width: 20%; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; border-top: Gray 1pt solid"><FONT STYLE="font-size: 10pt">Common &ndash; N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series K &ndash;N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series G &ndash; N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series H &ndash; N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series J &ndash; N/A</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 10pt; width: 20%; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; border-top: Gray 1pt solid"><FONT STYLE="font-size: 10pt">Common &ndash; N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series K &ndash;N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series G &ndash; N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series H &ndash; N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series J &ndash; N/A</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 10pt; width: 20%; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; border-top: Gray 1pt solid"><FONT STYLE="font-size: 10pt">Common &ndash; N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series K &ndash;N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series G &ndash; N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series H &ndash; N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series J &ndash; N/A</FONT></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 10pt; width: 25%; border: Gray 1pt solid"><FONT STYLE="font-size: 10pt">Common &ndash; 262,669,923</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series K &ndash; 3,993,000</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series G &ndash; 2,779,621</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series H &ndash; 4,172,873</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series J &ndash; 3,200,000&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="font-size: 10pt; padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid"><FONT STYLE="font-size: 10pt">Month #6</FONT><BR>
<FONT STYLE="font-size: 10pt">06/01/2021<BR>
 through<BR>
 06/30/2021</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; N/A<BR>
        <BR>
        Preferred Series K &ndash;N/A<BR>
        <BR>
        Preferred Series G &ndash; N/A<BR>
        <BR>
        Preferred Series H &ndash; N/A<BR>
        <BR>
        Preferred Series J &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Preferred Series E &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; N/A<BR>
        <BR>
        Preferred Series K &ndash;N/A<BR>
        <BR>
        Preferred Series G &ndash; N/A<BR>
        <BR>
        Preferred Series H &ndash; N/A<BR>
        <BR>
        Preferred Series J &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Preferred Series E &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; N/A<BR>
        <BR>
        Preferred Series K &ndash;N/A<BR>
        <BR>
        Preferred Series G &ndash; N/A<BR>
        <BR>
        Preferred Series H &ndash; N/A<BR>
        <BR>
        Preferred Series J &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Preferred Series E &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; border-right: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; 263,511,620<BR>
        <BR>
        Preferred Series K &ndash; 3,993,000<BR>
        <BR>
        Preferred Series G &ndash; 2,779,621<BR>
        <BR>
        Preferred Series H &ndash; 4,172,873<BR>
        <BR>
        Preferred Series J &ndash; 3,200,000</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="font-size: 10pt; padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid"><FONT STYLE="font-size: 10pt">Total</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; N/A<BR>
        <BR>
        Preferred Series K &ndash;N/A<BR>
        <BR>
        Preferred Series G &ndash; N/A<BR>
        <BR>
        Preferred Series H &ndash; N/A<BR>
        <BR>
        Preferred Series J &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid"><FONT STYLE="font-size: 10pt">Common &ndash; N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series K &ndash;N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series G &ndash; N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series H &ndash; N/A</FONT><BR>
<BR>
<FONT STYLE="font-size: 10pt">Preferred Series J &ndash; N/A</FONT></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Common &ndash; N/A<BR>
        <BR>
        Preferred Series K &ndash;N/A<BR>
        <BR>
        Preferred Series G &ndash; N/A<BR>
        <BR>
        Preferred Series H &ndash; N/A<BR>
        <BR>
        Preferred Series J &ndash; N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="padding-bottom: 10pt; border-bottom: Gray 1pt solid; border-left: Gray 1pt solid; border-right: Gray 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">N/A</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Footnote columns (c) and (d) of the table, by disclosing the
following information in the aggregate for all plans or programs publicly announced:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left">a.</TD><TD STYLE="text-align: justify">The date each plan or program was announced &ndash; The
notice of the potential repurchase of common and preferred shares occurs in the Fund&rsquo;s shareholder reports in accordance
with Section 23(c) of the Investment Company Act of 1940, as amended.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left">b.</TD><TD STYLE="text-align: justify">The dollar amount (or share or unit amount) approved
&ndash; Any or all common shares outstanding may be repurchased when the Fund&rsquo;s common shares are trading at a discount
of 10% or more from the net asset value of the shares.Any or all preferred shares outstanding may be repurchased when the Fund&rsquo;s
preferred shares are trading at a discount to the liquidation value of $25.00.</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left">c.</TD><TD STYLE="text-align: justify">The expiration date (if any) of each plan or program
&ndash; The Fund&rsquo;s repurchase plans are ongoing.</TD>
</TR></TABLE>



<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left">d.</TD><TD STYLE="text-align: justify">Each plan or program that has expired during the period
covered by the table &ndash; The Fund&rsquo;s repurchase plans are ongoing.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in; text-align: left">e.</TD><TD STYLE="text-align: justify">Each plan or program the registrant has determined to
terminate prior to expiration, or under which the registrant does not intend to make further purchases. &ndash; The Fund&rsquo;s
repurchase plans are ongoing.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 10. Submission of Matters to a Vote of Security Holders.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There have been no material changes to
the procedures by which the shareholders may recommend nominees to the registrant&rsquo;s Board of Directors, where those changes
were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation
S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 11. Controls and Procedures.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">The registrant&rsquo;s principal executive and principal financial officers, or persons performing
similar functions have concluded that the registrant&rsquo;s disclosure controls and procedures (as defined in Rule 30a-3(c) under
the Investment Company Act of 1940, as amended (the &ldquo;1940 Act&rdquo;)) are effective as of a date within 90 days of the filing
of this report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures
required by Rule 30a-3(b) under the 1940 Act and Rule 15d-15(b) under the Securities Exchange Act of 1934, as amended.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">The registrant&rsquo;s certifying officers are not aware of any changes in the registrant&rsquo;s
internal control over financial reporting (as defined in rule 30a-3(d) under the 1940 Act) that occurred during the period covered
by this report that has materially affected, or is reasonably likely to materially affect, the registrant&rsquo;s internal control
over financial reporting.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-indent: -45pt"><B>Item 12. Disclosure of Securities
Lending Activities for Closed-End Management Investment Companies.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 45pt; text-indent: -45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Not applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 13. Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">(a)(1)</TD><TD STYLE="text-align: justify">Not applicable.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in"><A HREF="ex99-certs.htm">(a)(2)</A></TD><TD STYLE="text-align: justify"><A HREF="ex99-certs.htm">Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.</A></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left">(a)(3)</TD><TD STYLE="text-align: justify">Not applicable.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(a)(4)</TD><TD>Not applicable.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in; text-align: left"><A HREF="ex99-906cert.htm">(b)</A></TD><TD STYLE="text-align: justify"><A HREF="ex99-906cert.htm">Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes- Oxley Act of 2002 are attached hereto.</A></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></P>

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    <DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin-top: 0pt; text-align: center; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 7%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(Registrant)</FONT></TD>
    <TD STYLE="width: 13%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 70%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Gabelli Equity Trust Inc.</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin: 0"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 18%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By (Signature and Title)*</FONT></TD>
    <TD STYLE="width: 2%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 70%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Bruce N. Alpert</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bruce N. Alpert, Principal Executive Officer</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 3%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date</FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 70%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 3, 2021 </FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Pursuant
to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed
below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 18%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By (Signature and Title)*</FONT></TD>
    <TD STYLE="width: 2%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 70%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ Bruce N. Alpert</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bruce N. Alpert, Principal Executive Officer</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 3%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date</FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 70%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 3, 2021 </FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 18%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">By (Signature and Title)*</FONT></TD>
    <TD STYLE="width: 2%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 70%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/ John C. Ball </FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">John C. Ball, Principal Financial Officer and
    Treasurer</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 3%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date</FONT></TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="width: 70%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">September 3, 2021 </FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>*
</SUP>Print the name and title of each signing officer under his or her signature.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT>&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>ex99-certs.htm
<DESCRIPTION>SECTION 302 CERTIFICATIONS
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<!-- Field: Rule-Page --><DIV STYLE="margin: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><A HREF="gab-ncsrs_063021.htm">The Gabelli Equity Trust Inc. N-CSRS</A><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit
99.(a)(2)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Certification
Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">I,
Bruce N. Alpert, certify that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">I
have reviewed this report on Form N-CSR of The Gabelli Equity Trust Inc.;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Based
                                         on my knowledge, this report does not contain any untrue statement of a material fact
                                         or omit to state a material fact necessary to make the statements made, in light of the
                                         circumstances under which such statements were made, not misleading with respect to the
                                         period covered by this report;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Based
                                         on my knowledge, the financial statements, and other financial information included in
                                         this report, fairly present in all material respects the financial condition, results
                                         of operations, changes in net assets, and cash flows (if the financial statements are
                                         required to include a statement of cash flows) of the registrant as of, and for, the
                                         periods presented in this report;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
                                         registrant&rsquo;s other certifying officer(s) and I are responsible for establishing and maintaining
                                         disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment
                                         Company Act of 1940) and internal control over financial reporting (as defined in Rule
                                         30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Designed
                                         such disclosure controls and procedures, or caused such disclosure controls and procedures
                                         to be designed under our supervision, to ensure that material information relating to
                                         the registrant, including its consolidated subsidiaries, is made known to us by others
                                         within those entities, particularly during the period in which this report is being prepared;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Designed
                                         such internal control over financial reporting, or caused such internal control over
                                         financial reporting to be designed under our supervision, to provide reasonable assurance
                                         regarding the reliability of financial reporting and the preparation of financial statements
                                         for external purposes in accordance with generally accepted accounting principles;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Evaluated
                                         the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented
                                         in this report our conclusions about the effectiveness of the disclosure controls and
                                         procedures, as of a date within 90 days prior to the filing date of this report based
                                         on such evaluation; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<!-- Field: Page; Sequence: 6 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Disclosed
                                         in this report any change in the registrant&rsquo;s internal control over financial reporting
                                         that occurred during the period covered by this report that has materially affected,
                                         or is reasonably likely to materially affect, the registrant&rsquo;s internal control over
                                         financial reporting; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
                                         registrant&rsquo;s other certifying officer(s) and I have disclosed to the registrant&rsquo;s auditors
                                         and the audit committee of the registrant&rsquo;s board of directors (or persons performing
                                         the equivalent functions):</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">All
                                         significant deficiencies and material weaknesses in the design or operation of internal
                                         control over financial reporting which are reasonably likely to adversely affect the
                                         registrant&rsquo;s ability to record, process, summarize, and report financial information;
                                         and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Any
                                         fraud, whether or not material, that involves management or other employees who have
                                         a significant role in the registrant&rsquo;s internal control over financial reporting.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date:</FONT></TD>
    <TD STYLE="width: 35%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;September
    3, 2021</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/
    Bruce N. Alpert</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bruce N. Alpert, Principal Executive Officer</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;</FONT></P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Certification
Pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">I,
John C. Ball, certify that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">I
                                         have reviewed this report on Form N-CSR of The Gabelli Growth Fund;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Based
                                         on my knowledge, this report does not contain any untrue statement of a material fact
                                         or omit to state a material fact necessary to make the statements made, in light of the
                                         circumstances under which such statements were made, not misleading with respect to the
                                         period covered by this report;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Based
                                         on my knowledge, the financial statements, and other financial information included in
                                         this report, fairly present in all material respects the financial condition, results
                                         of operations, changes in net assets, and cash flows (if the financial statements are
                                         required to include a statement of cash flows) of the registrant as of, and for, the
                                         periods presented in this report;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">4.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
                                         registrant&rsquo;s other certifying officer(s) and I are responsible for establishing and maintaining
                                         disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment
                                         Company Act of 1940) and internal control over financial reporting (as defined in Rule
                                         30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Designed
                                         such disclosure controls and procedures, or caused such disclosure controls and procedures
                                         to be designed under our supervision, to ensure that material information relating to
                                         the registrant, including its consolidated subsidiaries, is made known to us by others
                                         within those entities, particularly during the period in which this report is being prepared;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Designed
                                         such internal control over financial reporting, or caused such internal control over
                                         financial reporting to be designed under our supervision, to provide reasonable assurance
                                         regarding the reliability of financial reporting and the preparation of financial statements
                                         for external purposes in accordance with generally accepted accounting principles;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(c)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Evaluated
                                         the effectiveness of the registrant&rsquo;s disclosure controls and procedures and presented
                                         in this report our conclusions about the effectiveness of the disclosure controls and
                                         procedures, as of a date within 90 days prior to the filing date of this report based
                                         on such evaluation; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>




<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(d)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Disclosed
                                         in this report any change in the registrant&rsquo;s internal control over financial reporting
                                         that occurred during the period covered by this report that has materially affected,
                                         or is reasonably likely to materially affect, the registrant&rsquo;s internal control over
                                         financial reporting; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">5.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
                                         registrant&rsquo;s other certifying officer(s) and I have disclosed to the registrant&rsquo;s auditors
                                         and the audit committee of the registrant&rsquo;s board of directors (or persons performing
                                         the equivalent functions):</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(a)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">All
                                         significant deficiencies and material weaknesses in the design or operation of internal
                                         control over financial reporting which are reasonably likely to adversely affect the
                                         registrant&rsquo;s ability to record, process, summarize, and report financial information;
                                         and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">(b)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Any
                                         fraud, whether or not material, that involves management or other employees who have
                                         a significant role in the registrant&rsquo;s internal control over financial reporting.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date:</FONT></TD>
    <TD STYLE="width: 35%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;September
    3, 2021</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/
    John C. Ball</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">John C. Ball, Principal Financial Officer and
    Treasurer</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>


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<DOCUMENT>
<TYPE>EX-99.906 CERT
<SEQUENCE>3
<FILENAME>ex99-906cert.htm
<DESCRIPTION>SECTION 906 CERTIFICATIONS
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<!-- Field: Rule-Page --><DIV STYLE="margin: 0; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><A HREF="gab-ncsrs_063021.htm">The Gabelli Equity Trust Inc. N-CSRS</A><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Exhibit
99.(b)</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B>Certification
Pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">I,
Bruce N. Alpert, Principal Executive Officer of The Gabelli Equity Trust Inc. (the &ldquo;Registrant&rdquo;), certify that:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
                                         Form N-CSR of the Registrant (the &ldquo;Report&rdquo;) fully complies with the requirements
                                         of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
                                         information contained in the Report fairly presents, in all material respects, the financial
                                         condition and results of operations of the Registrant.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date:</FONT></TD>
    <TD STYLE="width: 35%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;September
    3, 2021</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/
    Bruce N. Alpert</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Bruce N. Alpert, Principal Executive Officer</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">I,
John C. Ball, Principal Financial Officer and Treasurer of The Gabelli Equity Trust Inc. (the &ldquo;Registrant&rdquo;), certify
that:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
                                         Form N-CSR of the Registrant (the &ldquo;Report&rdquo;) fully complies with the requirements
                                         of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 36pt"></TD><TD STYLE="width: 27pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">The
                                         information contained in the Report fairly presents, in all material respects, the financial
                                         condition and results of operations of the Registrant.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Date:</FONT></TD>
    <TD STYLE="width: 35%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;September
    3, 2021</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">/s/
    John C. Ball</FONT></TD>
    <TD STYLE="width: 10%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">John C. Ball, Principal Financial Officer and
    Treasurer</FONT></TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"></P>

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<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>gb60gab001.jpg
<DESCRIPTION>GRAPHIC
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
