<SEC-DOCUMENT>0001072613-16-000924.txt : 20160908
<SEC-HEADER>0001072613-16-000924.hdr.sgml : 20160908
<ACCEPTANCE-DATETIME>20160908124659
ACCESSION NUMBER:		0001072613-16-000924
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20160630
FILED AS OF DATE:		20160908
DATE AS OF CHANGE:		20160908
EFFECTIVENESS DATE:		20160908

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BABSON CAPITAL PARTICIPATION INVESTORS
		CENTRAL INDEX KEY:			0000831655
		IRS NUMBER:				043025730
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05531
		FILM NUMBER:		161875465

	BUSINESS ADDRESS:	
		STREET 1:		1500 MAIN STREET
		STREET 2:		SUITE 600
		CITY:			SPRINGFIELD
		STATE:			MA
		ZIP:			01115
		BUSINESS PHONE:		4132261000

	MAIL ADDRESS:	
		STREET 1:		1500 MAIN STREET
		STREET 2:		SUITE 600
		CITY:			SPRINGFIELD
		STATE:			MA
		ZIP:			01115

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MASSMUTUAL PARTICIPATION INVESTORS
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MASSMUTUAL CORPORATE INVESTORS II
		DATE OF NAME CHANGE:	19880417
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>bcpi_ncsrs.htm
<DESCRIPTION>N-CSRS
<TEXT>
<html><head><title>bcpi_ncsrs.htm</title><!--Document Created by EDGARMaster--></head><BODY style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN; MARGIN: 0px 7%" scroll="yes"><p style="FONT-SIZE: 80%; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN: 0px"><font size="2"></font></p><font size="2"><div style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 4px solid; MARGIN: 0px"></div><div style="FONT-SIZE: 1pt; WIDTH: 100%; MARGIN-TOP: 2px; BORDER-BOTTOM: #000000 1px solid"></div>&nbsp;</font>   <p style="TEXT-ALIGN: center; MARGIN: 0px"><strong>UNITED STATES<br>SECURITIES AND EXCHANGE COMMISSION</strong></p><p style="MARGIN: 0px"><strong></strong></p><p style="FONT-SIZE: 80%; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN: 0px"><font size="2">WASHINGTON, D.C. 20549</font></p><p style="TEXT-ALIGN: center; MARGIN: 0px"><strong>&nbsp;</strong></p><p style="FONT-SIZE: 150%; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN: 0px"><font size="4">FORM N-CSR</font></p><p style="TEXT-ALIGN: center; MARGIN: 0px"><strong>&nbsp;</strong></p><p style="FONT-SIZE: 80%; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN: 0px"><font size="2">CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT</font></p><p style="FONT-SIZE: 80%; FONT-WEIGHT: bold; TEXT-ALIGN: center; MARGIN: 0px"><font size="2">INVESTMENT COMPANIES</font></p><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 80%; TEXT-ALIGN: center; MARGIN: 0px"><font size="2">Investment Company Act file number 811-5531</font></p><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN; MARGIN: auto" cellspacing="0" cols="3" cellpadding="0" align="center" border="0" >    <tr><td style="WIDTH: 20%" width="20%"><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td><td style="WIDTH: 60%; BORDER-BOTTOM: black 1px solid" width="60%"><p style="TEXT-ALIGN: center; MARGIN: 0px"><strong style="FONT-SIZE: 150%"><font size="4">Babson Capital Participation Investors</font></strong></p></td><td style="WIDTH: 20%" width="20%"><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td><td><p style="FONT-SIZE: 80%; TEXT-ALIGN: center; MARGIN: 0px"><font size="2">(Exact name of registrant as specified in charter)</font></p></td><td><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td><td><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td><td><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid"><p style="TEXT-ALIGN: center; MARGIN: 0px">1500 Main Street, P.O. Box 15189, Springfield, MA 01115-5189</p></td><td><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td><td><p style="TEXT-ALIGN: center; MARGIN: 0px">(Address of principal executive offices) (Zip code)</p></td><td><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td><td><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td><td><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid"><p style="TEXT-ALIGN: center; MARGIN: 0px">Janice M. Bishop, Vice President, Secretary and Chief Legal Officer</p><p style="TEXT-ALIGN: center; MARGIN: 0px">Independence Wharf, 470 Atlantic Ave., Boston MA 02210</p></td><td><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="TEXT-ALIGN: center; MARGIN: 0px">&nbsp;</p></td><td><p style="FONT-SIZE: 80%; TEXT-ALIGN: center; MARGIN: 0px"><font size="2">(Name and address of agent for service)</font></p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 80%; MARGIN: 0px"><font size="2">Registrant's telephone number, including area code: <u>413-226-1000 </u></font></p><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 80%; MARGIN: 0px"><font size="2">Date of fiscal year end: <u>12/31 </u></font></p><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 80%; MARGIN: 0px"><font size="2">Date of reporting period: <u>06/30/16</u></font></p><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 80%; MARGIN: 0px"><font size="2">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.</font></p><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 80%; MARGIN: 0px"><font size="2">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 ("OMB") 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, 110 F Street NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507.</font></p><p style="MARGIN: 0px">&nbsp;</p><div style="FONT-SIZE: 1pt; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px"><font size="2"></font></div><div style="FONT-SIZE: 1pt; WIDTH: 100%; MARGIN-TOP: 2px; BORDER-BOTTOM: #000000 4px solid; PAGE-BREAK-AFTER: always"><font size="2"></font></div><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 80%; MARGIN: 0px"><strong><font size="2">ITEM 1. REPORT TO STOCKHOLDERS.</font></strong></p><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 80%; MARGIN: 0px"><font size="2">Attached hereto is the semi-annual shareholder report transmitted to shareholders pursuant to Rule 30e-1 of the Investment Company Act of 1940, as amended.</font></p><p style="MARGIN: 0px">&nbsp;</p><table id="pagebreakf6ef010e-3cab-4be4-ada5-19785b390403" class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0">    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid">&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table><p style="MARGIN: 0px">&nbsp;</p><div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; TEXT-ALIGN: center" cellspacing="0" cellpadding="0" width="100%" bgcolor="white" >    <tr style="TEXT-ALIGN: center" bgcolor="white"><td style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top" width="90%" colspan="2"><div style="TEXT-ALIGN: right"><font style="FONT-SIZE: 26pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline" color="#004f5a" size="6" face="Times New Roman">Babson Capital</font></div><div style="TEXT-ALIGN: right"><font face="Times New Roman"><font size="6"><font style="FONT-SIZE: 26pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline" color="#004f5a">Participation Investors</font>&nbsp;</font></font></div><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td></tr><tr bgcolor="#004f5a"><td valign="top" width="5%">&nbsp;</td><td style="TEXT-ALIGN: right" valign="top" width="90%"><div>&nbsp;</div><div>&nbsp;<font style="FONT-SIZE: 18pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline" color="#ffffff"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial, sans-serif; FONT-WEIGHT: normal; COLOR: rgb(255,255,255); DISPLAY: inline">Report for the</font></font></div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 162pt"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial; FONT-WEIGHT: bold; DISPLAY: inline" color="#ffffff"><font style="FONT-SIZE: 18pt; FONT-FAMILY: arial, sans-serif; FONT-WEIGHT: normal; COLOR: rgb(255,255,255); DISPLAY: inline">Six&nbsp;Months Ended&nbsp;June 30, 2016</font></font></div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 162pt">&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 162pt">&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 162pt">&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 162pt">&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 162pt">&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 162pt">&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 162pt">&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 162pt">&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 162pt">&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 162pt">&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 162pt">&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 162pt">&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 162pt">&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 162pt">&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 162pt">&nbsp;</div></div></td><td valign="top" width="5%"><div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></div></td></tr><tr bgcolor="#004f5a"><td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td style="TEXT-ALIGN: right" valign="top" width="90%"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><img src="piimg1.jpg"></p></td><td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td></tr><tr bgcolor="#004f5a"><td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td style="TEXT-ALIGN: right" valign="top" width="90%">&nbsp;</td><td valign="top" width="5%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td></tr><tr><td valign="top" width="5%">&nbsp;</td><td valign="top" width="90%">&nbsp;</td><td valign="top" width="5%">&nbsp;</td></tr></table></div><div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left">&nbsp; </div><p style="TEXT-ALIGN: left; MARGIN: 0px; TEXT-INDENT: 0pt" align="left"><table id="pagebreak4e1e86c6-bfb8-4115-9b16-f3dfbbba2cdf" class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0">    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid">&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="TEXT-ALIGN: left; MARGIN: 0px; TEXT-INDENT: 0pt" align="center">&nbsp;</p><div style="MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><div align="center"><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="1" width="100%" bgcolor="white" >    <tr><td valign="top"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman" color="#004f5a">Adviser</font></font></font></font></td><td><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td valign="top" colspan="2"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman" color="#004f5a" size="3">Transfer Agent &amp; Registrar</font></font></font></td></tr><tr><td valign="top"><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><div><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left">Babson Capital Management LLC</div><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><p style="MARGIN: 0px; TEXT-INDENT: 0px">1500 Main Street, P.O. Box 15189</p>Springfield, Massachusetts 01115-5189</div></div></div></td><td><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td valign="top" colspan="2"><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 69pt; TEXT-INDENT: 0pt" align="left"><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-WEIGHT: bold; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-WEIGHT: normal; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline"><p style="MARGIN: 0px; TEXT-INDENT: 0px">DST Systems, Inc.</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">P.O. Box 219086</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Kansas City, Missouri 64121-9086</p>1-800-647-7374</font></font></font></font></font></font></div></div></div></td></tr><tr><td>&nbsp;</td><td><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td valign="top" colspan="2">&nbsp;</td></tr><tr><td valign="bottom"><div><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman" color="#004f5a"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline" color="#004f5a"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline" color="#004f5a">Independent Registered Public Accounting Firm</font></font></font></div></div><div><p style="MARGIN: 0px; TEXT-INDENT: 0px">KPMG LLP</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Boston, Massachusetts 02110</p></div></td><td><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td valign="bottom" colspan="2"><div><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-WEIGHT: bold; DISPLAY: inline"><font color="#004f5a" size="3">Internet Website</font></font></font></div><div><p style="MARGIN: 0px; TEXT-INDENT: 0px">www.babsoncapital.com/funds/closed-end-funds/babson-capital-participation-investors</p></div></td></tr><tr><td>&nbsp;</td><td><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td valign="top" colspan="2"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td></tr><tr><td width="49%"><div><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman" color="#004f5a"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline" color="#004f5a"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman" color="#004f5a">Counsel to the Trust</font></font></font></div></td><td width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td valign="top" rowspan="6" width="8%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><img src="piimg2.jpg"></p></font></td><td style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt" valign="bottom" width="41%"><div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline"><p style="MARGIN: 0px">Babson Capital Participation Investors</p></font></font></div></td></tr><tr><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Ropes &amp; Gray LLP </p></td><td><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt" valign="top"><div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">c/o Babson Capital Management LLC</font></font></div></td></tr><tr><td><p style="MARGIN: 0px">Boston, Massachusetts 02110</p></td><td><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt" valign="top"><div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">1500 Main Street, Suite 2200</font></font></div></td></tr><tr><td>&nbsp;</td><td><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt" valign="top"><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp; Springfield, Massachusetts 01115</p></td></tr><tr><td><font style="FONT-WEIGHT: bold; DISPLAY: inline"><font color="#004f5a" size="3">Custodian</font></font></td><td><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td style="PADDING-LEFT: 0pt; MARGIN-LEFT: 9pt" valign="top"><div style="MARGIN-LEFT: 9pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="left"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline">(413) 226-1516</font></font></div></td></tr><tr><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">State Street Bank and Trust Company</p></td><td><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td valign="top">&nbsp;</td></tr><tr><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Boston, Massachusetts 02116 </p></td><td><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td valign="top" colspan="2">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: rgb(0,79,90) 2px solid">&nbsp;</td><td style="BORDER-BOTTOM: rgb(0,79,90) 2px solid"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td style="BORDER-BOTTOM: rgb(0,79,90) 2px solid" valign="top" colspan="2">&nbsp;</td></tr><tr><td><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman">&nbsp;</font></td><td valign="top" colspan="2">&nbsp;</td></tr></table></div><div align="center"><table style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" cellspacing="0" cellpadding="0" width="100%" bgcolor="white" >    <tr><td valign="top" width="49%"><div style="TEXT-ALIGN: left; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; COLOR: rgb(35,31,32); DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman" color="#004f5a"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman" color="#004f5a"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline" color="#004f5a">Investment Objective and Policy</font></font></font></font></font></div><div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><div style="TEXT-ALIGN: justify; DISPLAY: block; TEXT-INDENT: 0pt"><div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Babson Capital Participation Investors (the "Trust") is a closed-end management investment company, first offered to the public in 1988, whose shares are traded on the New York Stock Exchange under the trading symbol "MPV". The Trust's share price can be found in the financial section of most newspapers under either the New York Stock Exchange listings or Closed-End Fund Listings. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">The Trust's investment objective is to maximize total return by providing a high level of current income, the potential for growth of income, and capital appreciation. The Trust's principal investments are privately placed, below-investment grade, long-term debt obligations purchased directly from their issuers, which tend to be smaller companies. The Trust will also invest in publicly traded debt securities (including high yield securities) again with an emphasis on those with equity features, and in convertible preferred stocks and, subject to certain limitations, readily marketable equity securities. Below-investment grade or high yield securities have predominantly speculative characteristics with respect to the capacity of the issuer to pay interest and repay principal. The Trust is prohibited from purchasing below-investment grade securities if, after giving effect to the purchase, more than 75% of the Trust's total assets would be invested in below-investment grade securities, which are securities that are rated, at the time of purchase, BB or B by S&amp;P or Ba or B by Moody's, or, if unrated, are believed by Babson Capital Management LLC ("Babson Capital") to be of an equivalent quality. In addition, the Trust will not invest in any debt security that is rated, at the time of acquisition, below B by S&amp;P or Moody's, or if unrated, is believed by Babson Capital to be of an equivalent quality. In addition, the Trust may invest in high quality, readily marketable securities. </p><p style="MARGIN: 0px">&nbsp;</p>Babson Capital manages the Trust on a total return basis. The Trust distributes substantially all of its net income to shareholders each year. Accordingly, the Trust pays dividends to shareholders in January, May, August, and November. All registered shareholders are automatically enrolled in the Dividend Reinvestment and Cash Purchase Plan unless cash distributions are requested.<br></font></div><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline"></font></div><div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline"><div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman" color="#004f5a"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman" color="#004f5a"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline" color="#004f5a"></font></font></font></font></font>&nbsp;</div><div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman" color="#004f5a"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman" color="#004f5a"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline" color="#004f5a">F<font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman" color="#004f5a">orm</font> N-Q</font></font></font></font></font><br>The Trust files its complete schedule of portfolio holdings with the U.S. Securities and Exchange Commission ("SEC") for the first and third quarters of each fiscal year on Form N-Q. This information is available (i) on the SEC's website at http://www.sec.gov; and (ii) at the SEC's Public Reference Room in Washington, DC (which information on their operation may be obtained by calling 1-800-SEC-0330). A complete schedule of portfolio holdings as of each quarter-end is available upon request by calling, toll-free, 866-399-1516.</div></font></div></div></div></div></div></td><td style="TEXT-ALIGN: justify" valign="top" width="2%"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman" color="teal">&nbsp;</font></td><td style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" valign="top" width="49%"><div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><div style="DISPLAY: block; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman" color="#004f5a"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline" color="#004f5a">Proxy Voting Policies &amp; Procedures; Proxy Voting Record</font></font></div></div></div></div><div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><div style="TEXT-ALIGN: justify; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><div style="DISPLAY: block; TEXT-INDENT: 0pt"><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">The Trustees of the Trust have delegated proxy voting responsibilities relating to the voting of securities held by the Trust to Babson Capital. A description of Babson Capital's proxy voting policies and procedures is available (1) without charge, upon request, by calling, toll-free 866-399-1516; (2) on the Trust's website: http://www.babsoncapital.com/funds/closed-end-funds/babson-capital-participation-investors; and (3) on the SEC's website at http://www.sec.gov. Information regarding how the Trust voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available (1) on the Trust's website: http://www.babsoncapital.com/funds/closed-end-funds/babson-capital-participation-investors; and (2) on the SEC's website at http://www.sec.gov.</div><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify">&nbsp;</div><div style="MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt" align="justify"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; DISPLAY: inline"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman" color="#004f5a"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman" color="#004f5a"><font style="FONT-SIZE: 12pt; FONT-FAMILY: times new roman; FONT-WEIGHT: bold; DISPLAY: inline" color="#004f5a">Legal Matters</font></font></font></font></font></b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px">The Trust has entered into contractual arrangements with an investment adviser, transfer agent and custodian (collectively "service providers") who each provide services to the Trust. Shareholders are not parties to, or intended beneficiaries of, these contractual arrangements, and these contractual arrangements are not intended to create any shareholder right to enforce them against the service providers or to seek any remedy under them against the service providers, either directly or on behalf of the Trust. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Under the Trust's Bylaws, any claims asserted against or on behalf of the Trust, including claims against Trustees and officers must be brought in courts located within the Commonwealth of Massachusetts. </p><p style="MARGIN: 0px">&nbsp;</p>The Trust's registration statement and this shareholder report are not contracts between the Trust and its shareholders and do not give rise to any contractual rights or obligations or any shareholder rights other than any rights conferred explicitly be federal or state securities laws that may not be waived.</div></div></div></div></div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"></font>&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt">&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><img src="piimg3.jpg"></p><p style="MARGIN: 0px">&nbsp;</p>&nbsp;</div><div style="TEXT-ALIGN: right; MARGIN-LEFT: 0pt; DISPLAY: block; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman"></font>&nbsp;</div></div></div></td></tr></table></div><div id="PGBRK" style="MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt; TEXT-INDENT: 0pt"><div id="FTR"><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p></div></div></div><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">Babson Capital Participation Investors </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>TO OUR SHAREHOLDERS</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>July 31, 2016 </b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">We are pleased to present the June 30, 2016 Quarterly Report of Babson Capital Participation Investors (the "Trust"). At the Trust's Annual Meeting of Shareholders, which was held on April 22, 2016, Michael L. Klofas announced that he was retiring from Babson Capital and as President of the Trust, effective June 1st. The Trust also announced that Robert M. Shettle will succeed Mr. Klofas as President of the Trust effective June 1, 2016. Mr. Shettle is currently head of Babson Capital's Mezzanine and Private Equity Group, where he focuses on originating, analyzing, structuring and documenting mezzanine and private equity investments. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">The Board of Trustees declared a quarterly dividend of $0.27 per share, payable on August 12, 2016 to shareholders of record on August 1, 2016. The Trust paid a $0.27 per share dividend for the preceding quarter. The Trust earned $0.25 per share of net investment income for the second quarter of 2016, compared to $0.22 per share, including $0.02 per share of non-recurring income, in the previous quarter. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">During the second quarter, the net assets of the Trust increased to $139,379,949 or $13.46 per share compared to $138,443,220 or $13.39 per share on March 31, 2016. This translates into a 2.5% total return for the quarter, based on the change in the Trust's net assets assuming the reinvestment of all dividends. Longer term, the Trust returned 5.1%, 10.2%, 10.8%, 9.8% and 12.3% for the 1, 3, 5, 10, and 25-year periods, respectively, based on the change in the Trust's net assets assuming the reinvestment of all dividends.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">The Trust's share price increased 3.1% during the quarter, from $14.29 per share as of March 31, 2016 to $14.73 per share as of June 30, 2016. The Trust's market price of $14.73 per share equates to a 9.4% premium over the June 30, 2016 net asset value per share of $13.46. The Trust's average quarter-end premium for the 3, 5 and 10-year periods was 1.1%, 8.3% and 7.4%, respectively. U.S. equity markets, as approximated by the Russell 2000 Index, increased 3.8% for the quarter. U.S. fixed income markets, as approximated by the Barclays Capital U.S. Corporate High Yield Index, increased 2.5% for the quarter. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">The Trust closed five new private placement investments, as well as two add-on investments in existing portfolio companies, during the second quarter. The five new investments were in API Technologies Corp., CORA Health Services, Inc., Money Mailer Equity LLC, NSi Industries Holdings, Inc. and Software Paradigms International Group, LLC, while the add-on investments were in Church Services Holding Company and Handi Quilter Holding Company. A brief description of these investments can be found in the Consolidated Schedule of Investments. The total amount invested by the Trust in these transactions was $7,861,000. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Despite broad middle market acquisition activity metrics being notably lower than in 2015, our deal flow remained robust and our investment activity continued at an active pace during the second quarter. Barring any external shocks to the market, we expect deal flow to remain steady for the balance of the year and therefore, are cautiously optimistic about the prospects for new investment activity for the Trust in 2016. I say "cautiously" optimistic regarding the prospects for new investments due to the high purchase prices and debt levels that are increasingly present in middle market buyout transactions, combined with downward pressure on investment returns. Purchase multiples continue to be well above historical averages, and while leverage multiples appear to have decreased modestly, they are still well above historical averages. More recently, investment returns have been under some pressure as well, as new competitors enter the market due to the attractive yields the middle market offers relative to other market segments. While we are actively making new investments on behalf of the Trust, we do so cautiously and with credit discipline, consistent with our longstanding investment philosophy of seeking to take prudent levels of risk and getting paid appropriately for the risk taken. We are unwilling to provide financial leverage at levels we consider to be imprudent, an approach that has served us well over the long term and through various market cycles. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">The Trust's existing portfolio remains in solid condition with the number of companies on our watch list and/or in default continuing to be below historical averages. We exited seven investments during the quarter, five of which resulted in realized gains while two long-time troubled investments, Transpac and NABCO, were realized at a loss. In two of the five successful exits, the Trust reinvested with the new buyer. We also had one Company prepay the remaining balance of its debt instruments held by the Trust. Of note, we have a notable list of portfolio companies that we expect to be sold over the next two to three quarters. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">While the Trust was able to maintain its $0.27 per share quarterly dividend for the second quarter, we must make note again, as we have for over two years now, that this dividend level may not be sustainable. The Trust's net investment income per share from recurring sources of $0.25 for the second quarter was once again below the dividend rate. Net investment income per share from recurring sources has been below the dividend rate for every quarter since the second quarter of 2012. As we have discussed in prior reports, net investment income is down due principally to the </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right"><b>(Continued)</b>   <p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right"><b>&nbsp;   <p style="MARGIN: 0px"><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p>&nbsp;</b>1   <p style="MARGIN: 0px"><b><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p></b>&nbsp;   <p style="MARGIN: 0px"><p style="MARGIN: 0px; TEXT-INDENT: 0px">considerable reduction in the number of private debt securities in the portfolio resulting from the high level of exit and prepayment activity that occurred in 2013 and 2014, and the challenges of replacing that level of exits and prepayments in a prudent and timely manner. With several strong recent quarters of new investment activity, we have made some progress in rebuilding the private portfolio, but it is still below its former size. We have been able to maintain the $0.27 per share quarterly dividend with current income, non-recurring income and earnings carried forward from prior quarters. Over time, however, the Trust's dividend-paying ability tends to be correlated with its recurring earnings capacity. This quarter, the Trust utilized $0.02 per share of earnings carry-forwards to maintain the $0.27 per share quarterly dividend. The Trust continues to have earnings carry-forwards which should be available to supplement recurring income for the next few quarters. But unless market conditions change dramatically, it is still unlikely that we will be able to completely rebuild the portfolio back to its former size in the near term and grow net investment income. As a result, barring an unforeseen favorable change in the market, it is a distinct possibility that in 2017 we will have to reduce the dividend from the current $0.27 per share quarterly rate. As we move through the coming quarters, we and the Board of Trustees will continue to evaluate the current and future earnings capacity of the Trust and formulate a dividend strategy that is consistent with that earnings level. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Thank you for your continued interest in and support of Babson Capital Participation Investors. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Sincerely, </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><img src="piimg4.jpg">&nbsp;&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Robert M. Shettle </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">President </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>Portfolio Composition as of 6/30/16* </b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><strong></strong>&nbsp;</p><strong><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><img src="piimg5.jpg"></p>&nbsp;</strong>   <p style="MARGIN: 0px; TEXT-INDENT: 0px">* Based on market value of total investments (including cash) </p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Cautionary Notice: Certain statements contained in this report may be "forward looking" statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made and which reflect management's current estimates, projections, expectations or beliefs, and which are subject to risks and uncertainties that may cause actual results to differ materially. These statements are subject to change at any time based upon economic, market or other conditions and may not be relied upon as investment advice or an indication of the Trust's trading intent. References to specific securities are not recommendations of such securities, and may not be representative of the Trust's current or future investments. We undertake no obligation to publicly update forward looking statements, whether as a result of new information, future events, or otherwise.</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">2&nbsp;</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px" align="right">Babson Capital Participation Investors</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b><font size="3">CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES</font></b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Assets:</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Investments</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px 0px 0px 15px">(See Consolidated Schedule of Investments)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Corporate restricted securities at fair value</p><p style="MARGIN: 0px 0px 0px 30px">(Cost - $96,949,841)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">98,222,967</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Corporate restricted securities at market value</p><p style="MARGIN: 0px 0px 0px 30px">(Cost - $18,482,579)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">17,817,366</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Corporate public securities at market value</p><p style="MARGIN: 0px 0px 0px 30px">(Cost - $21,784,010)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">21,377,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Short-term securities at amortized cost</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">3,999,383</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Total investments (Cost - $141,215,813)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">141,416,716</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Cash</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">13,362,962</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Interest receivable</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">1,369,064</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Receivable for investments sold</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">64,952</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Other assets</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">6,405</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 30px"><b>Total assets</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>156,220,099</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Liabilities:</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Note payable</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">15,000,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Payable for investments purchased</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">657,597</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Deferred tax liability</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">579,023</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Investment advisory fee payable</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">313,605</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Interest payable</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">27,267</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Accrued expenses</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">262,658</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 30px"><b>Total liabilities</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>16,840,150</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 30px"><b>Total net assets</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" width="9%" align="right"><b>139,379,949</b></td><td style="PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Net Assets:</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common shares, par value $.01 per share</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">103,559</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Additional paid-in capital</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">95,626,242</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Retained net realized gain on investments, prior years</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">40,511,310</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Undistributed net investment gain</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">3,399,364</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Accumulated net realized loss on investments</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">117,594</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Net unrealized depreciation of investments</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">(378,120</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%">)</td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 30px"><b>Total net assets</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" width="9%" align="right"><b>139,379,949</b></td><td style="PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Common shares issued and outstanding (14,787,750 authorized)</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" width="9%" align="right"><b>10,355,987</b></td><td style="PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Net asset value per share</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" width="9%" align="right"><b>13.46</b></td><td style="PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">See Notes to Consolidated Financial Statements</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">3</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b><font size="3">CONSOLIDATED STATEMENT OF OPERATIONS</font></b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>For the six months ended June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Investment Income:</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Interest</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">5,918,632</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Dividends</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">109,237</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Other</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">81,674</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 30px"><strong>Total investment income</strong></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>6,109,543</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Expenses:</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Investment advisory fees</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">625,102</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Interest</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">306,750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Trustees' fees and expenses</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">150,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Professional fees</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">121,885</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Reports to shareholders</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">48,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Custodian fees</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">12,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Other</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">58,379</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 30px"><strong>Total expenses</strong></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>1,322,116</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Investment income - net</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>4,787,427</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Net realized and unrealized gain on investments:</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Net realized gain on investments before taxes</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">190,503</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Income tax expense</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">(161,219</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%">)</td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Net realized gain on investments after taxes</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">29,284</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Net change in unrealized appreciation of investments before taxes</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">1,704,111</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Net change in deferred income tax expense</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">(69,935</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%">)</td></tr><tr><td valign="top"><p style="MARGIN: 0px">Net change in unrealized appreciation of investments after taxes</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">1,634,176</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 30px"><strong>Net gain on investments</strong></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>1,663,460</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Net increase in net assets resulting from operations</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" width="9%" align="right"><b>6,450,887</b></td><td style="PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">See Notes to Consolidated Financial Statements</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">4</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">Babson Capital Participation Investors</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b><font size="3">CONSOLIDATED STATEMENT OF CASH FLOWS</font></b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>For the six months ended June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Net increase in cash:</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Cash flows from operating activities:</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Purchases/Proceeds/Maturities from short-term portfolio securities, net</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">24,491</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Purchases of portfolio securities</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">(20,154,200</td><td valign="bottom" width="1%">)</td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Proceeds from disposition of portfolio securities</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">28,334,837</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Interest, dividends and other income received</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5,631,215</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Interest expense paid</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">(306,750</td><td valign="bottom" width="1%">)</td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Operating expenses paid</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">(1,003,989</td><td valign="bottom" width="1%">)</td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Income taxes paid</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">(635,666</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%">)</td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 30px"><b>Net cash provided by operating activities</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>11,889,938</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Cash flows from financing activities:</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Cash dividends paid from net investment income</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">(5,581,117</td><td valign="bottom" width="1%">)</td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Receipts for shares issued on reinvestment of dividends</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">371,879</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 30px"><b>Net cash used for financing activities</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>(5,209,238</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b>)</b></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Net increase in cash</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" valign="bottom" width="9%" align="right"><b>6,680,700</b></td><td valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Cash - beginning of year</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">6,682,262</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Cash - end of period</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" width="9%" align="right"><b>13,362,962</b></td><td style="PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Reconciliation of net increase in net assets to net cash provided by operating activities:</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Net increase in net assets resulting from operations</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>6,450,887</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Decrease in investments</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">4,974,965</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Decrease in interest receivable</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">244,198</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Increase in receivable for investments sold</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">(64,952</td><td valign="bottom" width="1%">)</td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Decrease in other assets</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">20,378</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Increase in deferred tax liability</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">69,935</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Increase in investment advisory fee payable</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">9,068</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Increase in payable for investments purchased</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">657,597</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Increase in accrued expenses</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">2,309</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Decrease in tax payable</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">(474,447</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%">)</td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 30px"><b>Total adjustments to net assets from operations</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>5,439,051</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 30px"><b>Net cash provided by operating activities</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" width="9%" align="right"><b>11,889,938</b></td><td style="PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">See Notes to Consolidated Financial Statements</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">5</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b><font size="3">CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS </font></b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">For the six<br>months ended<br>06/30/2016<br>(Unaudited)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">For the<br>year ended<br>12/31/2015</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Increase/(Decrease) in net assets:</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Operations:</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Investment income - net</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">4,787,427</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">9,762,813</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Net realized gain on investments after taxes</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">29,284</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">161,395</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Net change in unrealized appreciation/(depreciation) of investments after taxes</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">1,634,176</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">(1,368,494</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%">)</td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Net increase in net assets resulting from operations</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6,450,887</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">8,555,714</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Increase from common shares issued on reinvestment of dividends</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Common shares issued (2016 - 27,596; 2015 - 27,306)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">371,879</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">368,734</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Dividends to shareholders from:</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Net investment income (2016 - $0.27 per share; 2015 - $1.08 per share)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">(2,792,451</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%">)</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">(11,143,733</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%">)</td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 30px"><b>Total increase/(decrease) in net assets</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" valign="bottom" width="9%" align="right"><b>4,030,315</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" valign="bottom" width="9%" align="right"><b>(2,219,285</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b>)</b></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Net assets, beginning of period/year</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>135,349,634</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>137,568,919</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b></b>&nbsp;</p><p style="MARGIN: 0px"><b>Net assets, end of period/year </b>(including undistributed net investment income of </p><p style="MARGIN: 0px 0px 0px 15px; TEXT-INDENT: 0px">$3,399,364 and $1,404,388, respectively)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" width="9%" align="right"><b>139,379,949</b></td><td style="PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" width="9%" align="right"><b>135,349,634</b></td><td style="PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">See Notes to Consolidated Financial Statements</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">6</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">Babson Capital Participation Investors</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b><font size="3">CONSOLIDATED SELECTED FINANCIAL HIGHLIGHTS</font></b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Selected data for each share of beneficial interest outstanding: </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" valign="bottom" colspan="2" align="center">For the six<br>months ended<br>06/30/16</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="14" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">For the years ended December 31,</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">(Unaudited)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2"><p style="MARGIN: 0px" align="center">2015</p></td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2"><p style="MARGIN: 0px" align="center">2014</p></td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2"><p style="MARGIN: 0px" align="center">2013</p></td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2"><p style="MARGIN: 0px" align="center">2012</p></td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Net asset value:</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Beginning of period/year</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">13.10</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="4%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">13.35</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">12.83</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">12.56</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">11.90</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Net investment income (a)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">0.46</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">0.95</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1.04</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1.00</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1.08</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Net realized and unrealized gain (loss) on investments</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">0.16</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">(0.12</td><td style="PADDING-BOTTOM: 1px" valign="bottom">)</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">0.57</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">0.35</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">0.64</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Total from investment operations</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">0.62</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">0.83</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1.61</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1.35</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1.72</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Dividends from net investment income to common shareholders</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">(0.27</td><td valign="bottom">)</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">(1.08</td><td valign="bottom">)</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">(0.96</td><td valign="bottom">)</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">(1.08</td><td valign="bottom">)</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">(1.04</td><td valign="bottom">)</td></tr><tr><td valign="top"><p style="MARGIN: 0px">Dividends from realized gain on investments to common shareholders</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">(0.12</td><td valign="bottom">)</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">(0.04</td><td valign="bottom">)</td></tr><tr><td valign="top"><p style="MARGIN: 0px">Increase from dividends reinvested</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">0.01</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">(0.00</td><td style="PADDING-BOTTOM: 1px" valign="bottom">)(b)</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">(0.01</td><td style="PADDING-BOTTOM: 1px" valign="bottom">)</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">(0.00</td><td style="PADDING-BOTTOM: 1px" valign="bottom">)(b)</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">0.02</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Total dividends</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">(0.26</td><td style="PADDING-BOTTOM: 1px" valign="bottom">)</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">(1.08</td><td style="PADDING-BOTTOM: 1px" valign="bottom">)</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">(1.09</td><td style="PADDING-BOTTOM: 1px" valign="bottom">)</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">(1.08</td><td style="PADDING-BOTTOM: 1px" valign="bottom">)</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">(1.06</td><td style="PADDING-BOTTOM: 1px" valign="bottom">)</td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Net asset value: End of period/year</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom">$</td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">13.46</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom">$</td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">13.10</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom">$</td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">13.35</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom">$</td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">12.83</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom">$</td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">12.56</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Per share market value:</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">End of period/year</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom">$</td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" align="right">14.73</td><td style="PADDING-BOTTOM: 3px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom">$</td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" align="right">13.75</td><td style="PADDING-BOTTOM: 3px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom">$</td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" align="right">13.23</td><td style="PADDING-BOTTOM: 3px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom">$</td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" align="right">12.88</td><td style="PADDING-BOTTOM: 3px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom">$</td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" align="right">13.91</td><td style="PADDING-BOTTOM: 3px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Total investment return</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Net asset value (c)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">4.82</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">6.23</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">13.61</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">10.97</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">15.89</td><td valign="bottom">%</td></tr><tr><td style="BORDER-BOTTOM: #000000 1px dashed" valign="top"><p style="MARGIN: 0px 0px 0px 15px">Market value (c)</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom" align="right">9.23</td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom">%</td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom" align="right">12.66</td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom">%</td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom" align="right">12.54</td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom">%</td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom" align="right">0.47</td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom">%</td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4.54</p></td><td style="BORDER-BOTTOM: #000000 1px dashed; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">%) </p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Net assets (in millions):</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">End of period/year</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">139.38</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">135.35</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">137.57</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">131.42</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">127.87</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Ratio of total expenses to average net assets</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp; 2.17 </p></td><td valign="bottom"><p style="MARGIN: 0px">% (e)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">2.17</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">2.84</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">2.15</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">2.83</td><td valign="bottom">%</td></tr><tr><td valign="top"><p style="MARGIN: 0px">Ratio of operating expenses to average net assets</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp; 1.48 </p></td><td valign="bottom"><p style="MARGIN: 0px">% (e)&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1.49</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1.49</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1.51</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1.51</td><td valign="bottom">%</td></tr><tr><td valign="top"><p style="MARGIN: 0px">Ratio of interest expense to average net assets</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp; 0.45 </p></td><td valign="bottom"><p style="MARGIN: 0px">% (e)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">0.44</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">0.45</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">0.47</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">0.49</td><td valign="bottom">%</td></tr><tr><td valign="top"><p style="MARGIN: 0px">Ratio of income tax expense to average net assets (d)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp; 0.24 </p></td><td valign="bottom"><p style="MARGIN: 0px">% (e)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">0.24</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">0.90</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">0.17</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">0.83</td><td valign="bottom">%</td></tr><tr><td valign="top"><p style="MARGIN: 0px">Ratio of net investment income to average net assets</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp; 7.00 </p></td><td valign="bottom"><p style="MARGIN: 0px">% (e)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">6.95</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">7.82</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">7.77</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">8.82</td><td valign="bottom">%</td></tr><tr><td valign="top"><p style="MARGIN: 0px">Portfolio turnover</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">15</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">30</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">32</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">30</td><td valign="bottom">%</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">34</td><td valign="bottom">%</td></tr></table>&nbsp;   <p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="top" width="3%">(a)</td><td valign="top">Calculated using average shares. </td></tr><tr><td valign="top" width="3%">(b)</td><td valign="top"><p style="MARGIN: 0px" align="justify">Rounds to less than $0.01 per share. </p></td></tr><tr><td valign="top" width="3%"><p style="MARGIN: 0px" align="justify">(c)</p></td><td valign="top"><p style="MARGIN: 0px" align="justify">Net asset value return represents portfolio returns based on change in the Trust's net asset value assuming the reinvestment of all dividends and distributions which differs from the total investment return based on the Trust's market value due to the difference between the Trust's net asset value and the market value of its shares outstanding; past performance is no guarantee of future results. </p></td></tr><tr><td valign="top" width="3%"><p style="MARGIN: 0px" align="justify">(d)</p></td><td valign="top"><p style="MARGIN: 0px" align="justify">As additional information, this ratio is included to reflect the taxes paid on retained long-term gains. These taxes paid are netted against realized capital gains in the Statement of Operations. The taxes paid are treated as deemed distributions and a credit for the taxes paid is passed on to shareholders. </p></td></tr><tr><td valign="top" width="3%">(e)</td><td valign="top">Annualized. </td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td style="BORDER-BOTTOM: #000000 1px dashed" valign="top"><p style="MARGIN: 0px">Senior borrowings:</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Total principal amount (in millions)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">15</td><td valign="bottom" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">15</td><td valign="bottom" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">15</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">15</td><td valign="bottom" width="3%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">15</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #000000 1px dashed" valign="top"><p style="MARGIN: 0px">Asset coverage per $1,000 of indebtedness</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom">$</td><td id="ffcell" style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom" align="right">10,292</td><td style="BORDER-BOTTOM: #000000 1px dashed; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom">$</td><td id="ffcell" style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom" align="right">10,023</td><td style="BORDER-BOTTOM: #000000 1px dashed; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom">$</td><td id="ffcell" style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom" align="right">10,171</td><td style="BORDER-BOTTOM: #000000 1px dashed; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom">$</td><td id="ffcell" style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom" align="right">9,761</td><td style="BORDER-BOTTOM: #000000 1px dashed; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom">$</td><td id="ffcell" style="BORDER-BOTTOM: #000000 1px dashed" valign="bottom" align="right">9,525</td><td style="BORDER-BOTTOM: #000000 1px dashed; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">See Notes to Consolidated Financial Statements</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">7</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b><font size="3">CONSOLIDATED SCHEDULE OF INVESTMENTS</font></b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities - 83.25%: (A)</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Private Placement Investments - 70.47%: (C)</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>1492 Acquisition LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A leading producer of premium Italian cured meats and deli meats in the U.S.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class A Preferred (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 10/17/12&nbsp;&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">102,270</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">134,339</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class A Common (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11,364 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 10/17/12&nbsp;&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">11,364</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">120,392</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">113,634</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">254,731</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>A W X Holdings Corporation</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A provider of aerial equipment rental, sales and repair services to non-residential construction and maintenance contractors operating in the State of Indiana.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">10.5% Senior Secured Term Note due 12/20/2016 (D)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">420,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 05/15/08&nbsp;&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">413,944</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">375,060</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">13% Senior Subordinated Note due 12/20/2016 (D)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">420,000</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 05/15/08&nbsp;&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">384,627</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">60,000 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 05/15/08&nbsp;&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">60,000</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2016, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">21,099 shs</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 05/15/08&nbsp;&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">35,654</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">894,225</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">375,060</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>ABC Industries, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer of mine and tunneling ventilation products in the U.S.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">13% Senior Subordinated Note due 07/31/2019</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">181,818</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 08/01/12&nbsp;&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">170,937</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">179,962</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock Series A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">125,000 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 08/01/12&nbsp;&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">125,000</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">201,015</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2022, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.02 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">22,414 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 08/01/12&nbsp;&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">42,446</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">33,653</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">338,383</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">414,630</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Advanced Manufacturing Enterprises LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="7"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A designer and manufacturer of large, custom gearing products for a number of critical customer applications.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,945 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">207,910</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">* 12/07/12, 07/11/13 and 06/30/15.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Advanced Technologies Holdings</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A provider of factory maintenance services to industrial companies.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock Series A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">152 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 12/27/07&nbsp;&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">75,131</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">269,699</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Convertible Preferred Stock Series B (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">28 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 01/04/11&nbsp;&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">21,600</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">49,365</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">96,731</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">319,064</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>AFC - Dell Holding Corporation</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A distributor and provider of inventory management services for "C-Parts" used by OEMs in their manufacturing and production facilities.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12.5% Senior Subordinated Note due 09/27/2020</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,197,336</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 03/27/15&nbsp;&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,177,767</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,221,282</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,122 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 03/27/15&nbsp;&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">112,154</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">112,013</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">346 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 03/27/15&nbsp;&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">346</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,290,267</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,333,295</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="left">8</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">Babson Capital Participation Investors </p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A)</b> (Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Airxcel Holdings</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A leading manufacturer of a broad range of climate control solutions, including air-conditioners, heat pumps, cooking appliances, furnaces, powered vents, and water heaters.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12.5% Senior Subordinated Note due 11/18/2020</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">1,472,270</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 11/18/14&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,449,275</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,505,167</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">288 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 11/18/14&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">288,000</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">314,221</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,737,275</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,819,388</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>AMS Holding LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A leading multi-channel direct marketer of high-value collectible coins and proprietary-branded jewelry and watches.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class A Preferred (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">114 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 10/04/12&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">113,636</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">289,955</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Animal Supply Company</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="7"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A distributor of pet products to independent pet stores, veterinary clients and other pet specialty retailers.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">11.75% Second Lien Term Loan due 09/17/2019</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,759,500</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 03/30/15&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,740,920</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,687,842</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>API Technologies Corp.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="left">A designer, developer and manufacturer of electronic systems, subsystems, modules and secure communications for technically demanding defense, aerospace and commercial applications in the U.S. and internationally.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12% Senior Subordinated Note due 4/22/2023</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,380,000</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 04/22/16&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,354,454</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,402,493</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">345,000 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 04/20/16&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">345,000</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">345,000</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,699,454</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,747,493</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>ARI Holding Corporation</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A leading national supplier of products used primarily by specialty contractors.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">11.5% Senior Subordinated Note due 02/01/2020</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,708,837</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,689,472</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,712,531</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Partnership Interest</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">524 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 08/01/14&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">523,950</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">563,168</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">* 05/21/13 and 08/01/14.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">2,213,422</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">2,275,699</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>ASC Holdings, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer of capital equipment used by corrugated box manufacturers.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">13% Senior Subordinated Note due 05/18/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">744,954</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 11/19/15&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">731,328</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">741,769</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">111,100 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 11/18/15&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">111,100</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">62,105</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">842,428</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">803,874</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Aurora Parts &amp; Accessories LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A distributor of aftermarket over-the-road semi-trailer parts and accessories sold to customers across North America.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">11% Senior Subordinated Note due 02/17/2022</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,515,400</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 08/17/15&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,488,311</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,556,382</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">210 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 08/17/15&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">209,390</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">194,424</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">210 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 08/17/15&nbsp;&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">210</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,697,911</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,750,806</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">9</p><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A) (</b>Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Avantech Testing Services LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer of custom Non-Destructive Testing ("NDT") systems and provider of NDT and inspections services primarily to the oil country tubular goods market.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">15% Senior Subordinated Note due 01/31/2021 (D)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">500,587</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 07/31/14 </p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">491,228</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">-</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">45,504 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">* 07/31/14 and 10/14/15.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">491,228</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Blue Wave Products, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A distributor of pool supplies.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">10% Senior Secured Term Note due 09/30/2018</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">178,723</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 10/12/12 </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">177,122</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">178,723</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">13% Senior Subordinated Note due 09/30/2019</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">329,765</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 10/12/12 </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">315,922</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">329,765</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">51,064 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 10/12/12 </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">51,064</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">201,729</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2022, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">20,216 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 10/12/12 </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">20,216</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">79,863</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">564,324</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">790,080</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>BlueSpire Holding, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A marketing services firm that integrates strategy, technology, and content to deliver customized marketing solutions for clients in the senior living, financial services and healthcare end markets.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12.5% Senior Subordinated Note due 06/30/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,591,856</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 06/30/15 </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,564,220</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,413,592</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,417 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 06/30/15 </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">156,800</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">73,005</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,721,020</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,486,597</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>BP SCI LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A leading value-added distributor of branded pipes, valves, and fittings (PVF) to diversified end markets.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">417 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 10/17/12 </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">41,667</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">114,924</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class B (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">167 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 10/17/12 </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">166,666</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">252,182</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">208,333</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">367,106</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>CG Holdings Manufacturing Company</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="11"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A coating provider serving the automotive, agricultural, heavy truck and other end markets.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">13% Senior Subordinated Note due 11/01/2019</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,412,605</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; * </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,356,731</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,412,605</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,350 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; * </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">134,972</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">162,947</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">489 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; * </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">48,721</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">59,059</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">140 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; * </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">14,864</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">56,914</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2023, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">58 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; * </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">5,430</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">23,640</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">* 05/09/13 and 11/01/13.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,560,718</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,715,165</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">10</p><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table><p style="MARGIN: 0px" align="right">Babson Capital Participation Investors</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A) </b>(Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>CHG Alternative Education Holding Company</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A leading provider of publicly-funded, for profit pre-K-12 education services targeting special needs children at therapeutic day schools and "at risk" youth through alternative education programs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">13.5% Senior Subordinated Note due 01/19/2018</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">773,943</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 01/19/11&nbsp;&nbsp; </p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">760,533</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">773,943</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">14% Senior Subordinated Note due 08/03/2019</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">202,930</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 08/03/12&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">200,822</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">202,930</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">375 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 01/19/11&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">37,500</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">49,610</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2021, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">295 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 01/19/11&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">29,250</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">38,996</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,028,105</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,065,479</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Church Services Holding Company</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="11"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A provider of diversified residential services to homeowners in the Houston, Dallas, and Austin markets.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">14.5% Senior Subordinated Note due 03/26/2018</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">191,888</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 03/26/12&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">189,386</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">179,119</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">10% Senior Subordinated Note due 09/15/2099</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">6,492</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 09/15/14&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">6,492</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">548 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 04/11/16&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">54,762</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,327 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">132,700</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2022, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">57 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 03/26/12&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">5,740</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">* 03/26/12, 05/25/12 and 06/19/12.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">389,080</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">179,119</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Clarion Brands Holding Corp.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A portfolio of six over-the-counter (OTC) pharmaceutical brands whose products are used to treat tinnitus or ringing of the ear, excessive sweating, urinary tract infections, muscle pain, and skin conditions.</p></td><td></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12.5% Senior Subordinated Note due 04/01/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,609,813</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 10/01/14&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,583,905</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,609,813</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,568 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 10/01/14&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">156,818</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">50,672</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,740,723</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,660,485</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Clough, Harbour and Associates</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">An engineering service firm that is located in Albany, NY.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">147 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 12/02/08&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">146,594</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">692,278</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Compass Chemical International LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer and supplier of standard and specialty formulated chemicals, primarily phosphoric acid derivatives called phosphonates.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">230 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 03/04/15&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">147,304</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">112,701</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">147,304</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">112,701</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Connecticut Electric, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="11"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A supplier and distributor of electrical products sold into the retail and wholesale markets.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">82,613 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 01/12/07&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">82,613</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">105,467</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class C (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">59,756 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 01/12/07&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">59,756</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">81,414</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class D (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">671,525 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 05/03/10&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">846,117</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class E (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,102 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 05/03/10&nbsp;&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">128,541</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">142,369</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,161,539</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">11</p><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A) </b>(Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>CORA Health Services, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A provider of outpatient rehabilitation therapy services.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12.75% Senior Subordinated Note due 06/30/2023</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">758,243</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 06/30/16&nbsp; </p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">743,084</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">758,243</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock Class A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">3,791 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 06/30/16&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">3,791</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">3,791</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock Series A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">758 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 06/30/16&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">72,033</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">72,033</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">818,908</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">834,067</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>CTM Holding, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A leading owner and operator of coin-operated children's rides, penny presses and candy kiosks in the U.S.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">15% Senior Subordinated Note due 11/22/2019</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,277,645</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 11/22/13&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,261,740</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,280,327</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">78 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 11/22/13&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">443,182</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">409,317</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,704,922</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,689,644</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>DPL Holding Corporation</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A distributor and manufacturer of aftermarket undercarriage parts for medium and heavy duty trucks and trailers.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">14% Senior Subordinated Note due 05/04/2019</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,390,025</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 05/04/12&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,376,502</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,390,025</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">25 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 05/04/12&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">252,434</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">290,408</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">25 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 05/04/12&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">28,048</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,656,984</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,680,433</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Dunn Paper</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A provider of specialty paper for niche product applications.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">261 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 12/30/14&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">261,364</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">910,570</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Eagle Family Foods, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A producer of low-cost branded and private label canned milk.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">10.05% Last Out Term Loan due 12/31/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,725,000</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 12/22/15&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,701,285</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,720,519</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>ECG Consulting Group</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A healthcare management consulting company who provides strategic, financial, operational, and technology related consulting services to healthcare providers.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">11.75% Senior Subordinated Note due 11/21/2020</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,309,436</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 11/21/14&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,285,925</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,335,625</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">230 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 11/19/14&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">71,875</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">70,079</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,357,800</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,405,704</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>ERG Holding Company LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A provider of inpatient and outpatient clinical trial services to pharmaceutical companies and contract research organizations.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">13.5% Senior Subordinated Note due 10/04/2019</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">962,116</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 04/04/14&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">949,446</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">971,738</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">31 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp; 04/04/14&nbsp; </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">77,533</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">83,727</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,026,979</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,055,465</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p>12   <table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table><p style="MARGIN: 0px" align="right">Babson Capital Participation Investors </p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A) </b>(Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>F F C Holding Corporation</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A leading U.S. manufacturer of private label frozen novelty and ice cream products.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Preferred (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">171 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/27/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">58,345</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">75,709</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Common (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">171 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/27/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">17,073</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">129,464</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">75,418</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">205,173</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>F G I Equity LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="left">A manufacturer of a broad range of filters and related products that are used in commercial, light industrial, healthcare, gas turbine, nuclear, laboratory, clean room, hotel, educational system, and food processing settings.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Preferred (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">80,559 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/15/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">80,559</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class B-1 (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">65,789 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/15/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">65,789</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">147,547</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class B-2 (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">8,248 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/15/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">8,248</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">18,498</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class B-3 (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">6,522 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">08/30/12</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">15,000</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">16,322</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class C (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,575 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/20/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">16,009</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">29,802</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">105,046</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">292,728</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>FMH Holdings Corporation</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="7"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A designer and manufacturer of highly engineered components for the aerospace, defense and space industries.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">11.5% Senior Subordinated Note due 11/01/2020</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">1,443,937</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/01/15</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">1,420,094</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">1,458,376</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">148 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/01/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">148,096</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">189,561</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,568,190</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,647,937</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>G C Holdings</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A leading manufacturer of gaming tickets, industrial recording charts, security-enabled point-of sale receipts, and medical charts and supplies.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2018, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">198 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/19/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">46,958</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">127,736</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>GD Dental Services LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A provider of convenient "onestop" general, specialty, and cosmetic dental services with 21 offices located throughout South and Central Florida.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Preferred (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">76 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/05/12</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">75,920</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">98,790</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Common (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">767 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/05/12</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">767</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">31,918</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">76,687</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">130,708</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>GenNx Novel Holding, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer and distributor of nutraceutical ingredients.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">13% Senior Subordinated Note due 03/27/2020</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,601,899</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/27/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,579,591</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,448,952</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">15,500 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/27/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">155,000</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">62,072</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,734,591</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,511,024</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">13</p><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr"><p style="MARGIN: 0px" align="right">&nbsp;</p></td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A) </b>(Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>gloProfessional Holdings, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A marketer and distributor of premium mineral-based cosmetics, cosmeceuticals and professional hair care products to the professional spa and physician's office channels.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">14% Senior Subordinated Note due 03/27/2019</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">1,207,911</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/27/13</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,195,191</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,194,185</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">1,181 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/27/13</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">118,110</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">110,143</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,313,301</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,304,328</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Glynlyon Holding Companies, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A technology-enabled curriculum provider of K-12 and support services predominantly to small and medium public school districts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12% Senior Subordinated Note due 01/05/2022</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,584,847</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/15/16</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,554,983</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,632,392</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">147 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/15/16</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">147,436</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">152,003</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,702,419</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,784,395</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>GlynnDevins Acquisition Corporation</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A marketing communications agency that services senior living facilities.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">13% Senior Subordinated Note due 12/19/2020</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">796,780</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">06/19/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">783,490</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">812,716</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock Series A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">342 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">06/19/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">70,683</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">74,820</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">342 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">06/19/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">2,945</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">857,118</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">887,536</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Grakon Parent</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px">The leading designer and manufacturer of highly-engineered and customized LED and incandescent lighting systems for transportation-based markets.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">175 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/31/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">174,831</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">187,046</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>GTI Holding Company</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="7"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A designer, developer, and marketer of precision specialty hand tools and handheld test instruments.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12% Senior Subordinated Note due 02/05/2020</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">727,865</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/05/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">692,237</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">702,348</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">846 shs</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/05/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">84,636</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">66,978</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2024, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">397 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/05/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">36,816</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">31,430</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">813,689</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">800,756</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Handi Quilter Holding Company</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A designer and manufacturer of long-arm quilting machines and related components for the consumer quilting market.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12% Senior Subordinated Note due 06/19/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,437,500</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/19/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,413,616</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,450,884</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Preferred (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">359 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">359,375</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">220,160</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Common Class A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">3,594 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/19/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">* 12/19/14 and 4/29/16.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,772,991</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,671,044</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="left">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="left">14</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px" align="right">Babson Capital Participation Investors</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A) </b>(Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Hartland Controls Holding Corporation</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer and distributor of electronic and electromechanical components.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">14% Senior Subordinated Note due 08/14/2019</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">1,095,397</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/14/14</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,080,976</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,106,351</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12% Senior Subordinated Note due 08/14/2019</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">431,250</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">06/22/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">427,829</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">439,875</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock Series A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">1,140 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/14/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">114,011</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">123,088</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">821 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/14/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">822</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">244,394</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,623,638</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,913,708</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Healthcare Direct Holding Company</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A direct-to-customer marketer of discount dental plans.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">517 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/09/12</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">51,724</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">97,874</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>HHI Group, LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A developer, marketer, and distributor of hobby-grade radio control products.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">16% Senior Subordinated Note due 01/17/2020</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,664,242</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/17/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,643,137</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,434,387</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">102 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/17/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">101,563</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,744,700</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,434,387</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Hi-Rel Group LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer and distributor of precision metal piece parts for the microelectronic packaging industry, serving the aerospace/defense, telecommunications, and medical end markets.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12% Senior Subordinated Note due 04/15/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">703,125</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/15/13</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">681,440</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">710,156</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">234 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/15/13</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">234,375</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">422,442</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2020, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">37,177shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/15/13</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">32,344</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">83,961</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">948,159</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,216,559</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Hollandia Produce LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A hydroponic greenhouse producer of branded root vegetables.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">13.75% Senior Subordinated Note due 03/31/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,311,700</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/30/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,287,730</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,347,563</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>HOP Entertainment LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="7"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A provider of post production equipment and services to producers of television shows and motion pictures.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class F (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">47 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/14/11</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class G (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">114 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px" align="right">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/14/11</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class H (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">47 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/14/11</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class I (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">47 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/14/11</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">15</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A)</b> (Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Hospitality Mints Holding Company</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer of individually-wrapped imprinted promotional mints.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12% Senior Subordinated Note due 10/01/2018</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">1,098,837</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">08/19/08</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,093,996</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,018,501</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">251 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">08/19/08</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">251,163</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">29,969</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2018, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">65 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">08/19/08</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">60,233</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">7,746</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,405,392</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,056,216</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>HVAC Holdings, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="7"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A provider of integrated energy efficiency services and maintenance programs for HVAC systems.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12.5% Senior Subordinated Note due 09/27/2019</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,205,378</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/27/12</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,192,296</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,205,378</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class A Preferred (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">1,127 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/27/12</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">112,726</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">161,197</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class A Common (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">910 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/27/12</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">910</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">50,156</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,305,932</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,416,731</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Ideal Tridon Holdings, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="7"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A designer and manufacturer of clamps and couplings used in automotive and industrial end markets.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Common Stock</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">93 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/27/11</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">77,462</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">159,083</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px">&nbsp;</p></td><td></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Impact Confections</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px">&nbsp;</p></td><td></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">An independent manufacturer and marketer of confectionery products including Warheads<sup><font face="Symbol">&#210;</font></sup> brand sour candies, Melster<sup><font face="Symbol">&#210;</font></sup> brand classic candies, and co-manufactured/private label classic candies.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">13% Senior Subordinated Note due 11/10/2020</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,081,336</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/10/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,064,324</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,103,665</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">2,300 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/10/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">230,000</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">302,073</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,294,324</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,405,738</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Insurance Claims Management, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A third party administrator providing auto and property claim administration services for insurance companies.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">47 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/27/07</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,424</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">114,917</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>J A C Holding Enterprises, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A supplier of luggage racks and accessories to the original equipment manufacturers.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">165 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/20/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">165,000</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">317,079</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock B (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">0.06 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/20/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">115</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">33 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/20/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,667</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">106,294</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2020, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">12 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/20/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">105,643</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">134,013</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">272,310</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">557,501</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">16&nbsp;</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px" align="right">Babson Capital Participation Investors</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A) </b>(Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Janus Group Holdings LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="4"><p style="MARGIN: 0px">A manufacturer of roll-up doors and hallway systems that are primarily used in self-storage facilities.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" width="52%"><p style="MARGIN: 0px">13.5% Senior Subordinated Note due 06/10/2019</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">1,107,473</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/11/13</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,093,566</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,118,547</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">283 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/11/13</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">611,794</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,176,407</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,705,360</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">2,294,954</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>JMH Investors LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A developer and manufacturer of custom formulations for a wide variety of foods.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">14.25% Senior Subordinated Note due 12/05/2019</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,118,783</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/05/12</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,106,094</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">966,055</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px" align="right">1,038,805 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/05/12</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">232,207</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">30,949</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,338,301</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">997,004</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>K &amp; N Parent, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="4"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer and supplier of automotive aftermarket performance air filters and intake systems.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock Series A</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">102 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/23/11</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock Series B</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">29 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/23/11</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">163 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">6,522</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">235,009</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">* 12/23/11 and 06/30/14.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">6,522</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">235,009</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>K N B Holdings Corporation</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A designer, manufacturer and marketer of products for the custom framing market.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">71,053 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/24/06</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">71,053</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">79,258</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2018, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">43,600 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/25/06</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">37,871</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">48,635</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">108,924</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">127,893</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>K P I Holdings, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">The largest player in the U.S. non-automotive, non-ferrous die casting segment.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class C Preferred (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">40 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">06/30/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">74,817</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">353 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">07/15/08</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">285,619</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">340,534</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">285,619</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">415,351</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Kyjen Company</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="7"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A designer and distributer of branded and private label dog toys and accessories primarily in the US.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">13% Senior Subordinated Note due 10/14/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,302,972</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/14/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,279,218</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,338,568</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px">&nbsp;</p></td><td></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Mail Communications Group, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px">&nbsp;</p></td><td></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A provider of mail processing and handling services, lettershop services, and commercial printing services.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">12,764 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">166,481</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">148,350</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2017, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">1,787 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/04/07</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">22,781</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">20,770</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">* 05/04/07 and 01/02/08.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">189,262</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">169,120</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">17</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A)</b> (Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Manhattan Beachwear Holding Company</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A designer and distributor of women's swimwear.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12.5% Senior Subordinated Note due 01/15/2018 (D)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">419,971</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/15/10</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">404,121</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">-</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">15% Senior Subordinated Note due 01/15/2018 (D)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">115,253</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/05/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">114,604</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">35 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/05/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">35,400</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock Class B (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">118 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/15/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">117,647</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2019, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">104 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/05/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">94,579</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">766,351</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Master Cutlery LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A designer and marketer of a wide assortment of knives and swords.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">13% Senior Subordinated Note due 04/17/2020</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">876,983</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/17/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">868,325</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">850,724</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">5 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/17/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">678,329</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">245,042</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,546,654</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,095,766</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>MC Sign Holdings LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A provider of sign and lighting services nationwide.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">11.75% Senior Subordinated Note due 09/15/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">765,432</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/22/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">751,626</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">780,741</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class B (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">101,500 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/22/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">101,500</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">97,592</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">853,126</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">878,333</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Merex Holding Corporation</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="left">A provider of after-market spare parts and components, as well as Maintenance, Repair and Overhaul services for "out of production" or "legacy" aerospace and defense systems that are no longer effectively supported by the original equipment manufacturers.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">16% Senior Subordinated Note due 10/30/2019</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">454,295</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/22/11</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">449,013</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">408,866</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">15% Senior Subordinated Note due 04/30/2022</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">23,839</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">08/18/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">23,839</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Series A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">228 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/07/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">14,760</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Series B (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">155,945 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/22/11</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">155,945</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock Class A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">1,859 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">08/18/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">643,557</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">408,866</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>MES Partners, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="7"><p style="MARGIN: 0px; TEXT-INDENT: 0px">An industrial service business offering an array of cleaning and environmental services to the Gulf Coast region of the U.S.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12% Senior Subordinated Note due 09/30/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,101,123</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/30/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,083,307</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,134,157</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock Class B (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">219,545 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/30/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">219,545</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">140,036</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,302,852</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,274,193</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">18</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px" align="right">Babson Capital Participation Investors </p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A)</b> (Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>MNX Holding Company</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="10"><p style="MARGIN: 0px; TEXT-INDENT: 0px">An international third party logistics company providing customized logistics services to customers across the globe.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">14% Senior Subordinated Note due 11/02/2019</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">1,296,766</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/02/12</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,282,346</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,296,766</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp; 45 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/02/12</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">44,643</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">41,979</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,326,989</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,338,745</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Money Mailer Equity LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px">A leading provider of hyperlocal shared direct mail advertising as well as interactive and online advertising solutions through its nationwide production and distribution network.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12% Senior Subordinated Note due 10/29/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,726,512</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/29/16</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,692,683</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,726,512</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Motion Controls Holdings</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer of high performance mechanical motion control and linkage products.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">14.25% Senior Subordinated Note due 08/15/2020</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,000,510</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/30/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">992,636</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,000,510</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class B-1 (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">75,000 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/30/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">61,523</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class B-2 (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp; 6,801 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/30/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">5,579</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">992,636</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,067,612</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>NetShape Technologies, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer of powder metal and metal injection molded precision components used in industrial, consumer, and other applications.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12% Senior Subordinated Note due 06/10/2020</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">810,000</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/02/07</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">809,408</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Partnership Interest of Saw Mill </p><p style="MARGIN: 0px 0px 0px 15px">PCG Partners LLC (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">1.38% int.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/01/07</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">588,077</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class D of Saw Mill </p><p style="MARGIN: 0px 0px 0px 15px">PCG Partners LLC (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">8,873</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class D-1 of Saw Mill </p><p style="MARGIN: 0px 0px 0px 15px">PCG Partners LLC (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp;&nbsp; 121 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/30/09</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">121,160</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class D-2 of Saw Mill </p><p style="MARGIN: 0px 0px 0px 15px">PCG Partners LLC (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/29/11</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">34,547</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class D-3 of Saw Mill </p><p style="MARGIN: 0px 0px 0px 15px">PCG Partners LLC (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp;&nbsp; 104 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/10/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">103,904</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">99,054</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">* 12/18/08 and 09/30/09.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,665,969</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">99,054</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Northwest Mailing Services, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="10"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A producer of promotional materials for companies that use direct mail as part of their customer retention and loyalty programs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Partnership Interest (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">1,740 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">174,006</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">251,387</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2019, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">2,605 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp; *</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">260,479</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">376,314</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">* 07/09/09 and 08/09/10.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">434,485</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">627,701</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">19</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A) </b>(Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>NSi Industries Holdings, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="10"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer and distributer of electrical components and accessories to small to mid-sized electrical wholesalers.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12.75% Senior Subordinated Note due 5/17/2023</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">1,521,173</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">06/30/16</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,491,389</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,547,692</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">207 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/17/16</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">207,000</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">207,000</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,698,389</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,754,692</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>O E C Holding Corporation</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A provider of elevator maintenance, repair and modernization services.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock Series A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">554 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">06/04/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">55,354</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">67,641</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock Series B (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">311 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">06/04/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">31,125</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">54,250</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">344 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">06/04/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">344</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">46,483</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">86,823</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">168,374</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>PANOS Brands LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A marketer and distributor of branded consumer foods in the specialty, natural, better-for-you,"free from" healthy and gluten-free categories.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12% Senior Subordinated Note due 07/29/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,449,000</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/29/16</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,421,621</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,492,470</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock Class A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">276,000 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/29/16</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">276,000</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">320,126</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,697,621</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,812,596</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Pearlman Enterprises, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="10"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A developer and distributor of tools, equipment and supplies to the natural and engineered stone industry.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock Series A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">1,236 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/22/09</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">59,034</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,235,800</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock Series B (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">7,059 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/22/09</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">290,050</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">59,211</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">21,262 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/22/09</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">993,816</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,342,900</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,295,011</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Petroplex Inv Holdings LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="7"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A leading provider of acidizing services to E&amp;P customers in the Permian Basin.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">156,250 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/29/12</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">156,250</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Polytex Holdings LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="7"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer of water based inks and related products serving primarily the wall covering market.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">13% Senior Subordinated Note due 01/31/2020</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,056,710</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">07/31/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,041,575</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,036,592</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">148,096 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">07/31/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">148,096</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">113,945</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,189,671</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,150,537</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Power Stop Holdings LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A supplier of performance upgrade aftermarket brake products.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">11% Senior Subordinated Note due 05/29/2022</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,610,100</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/29/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,582,102</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,642,302</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Preferred (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">1,149 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/29/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">114,900</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">124,883</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Common (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">1,149 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/29/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">49,334</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,697,002</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,816,519</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">20&nbsp;</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px" align="right">Babson Capital Participation Investors</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A) </b>(Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>PPC Event Services</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">A special event equipment rental business.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">14% Senior Subordinated Note due 05/20/2020</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">1,155,311</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/20/14</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,137,898</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,178,417</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp; 3,450 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/20/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">172,500</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">388,125</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Series A-1 (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp; 339 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/16/16</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">42,419</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">39,441</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,352,817</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,605,983</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Randy's Worldwide Automotive</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A designer and distributor of automotive aftermarket parts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">11.5% Senior Subordinated Note due 05/12/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,135,898</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/12/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,116,918</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,158,616</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp;&nbsp; 118 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/12/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">118,476</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">149,426</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,235,394</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,308,042</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>REVSpring, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A provider of accounts receivable management and revenue cycle management services to customers in the healthcare, financial and utility industries.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">13,548 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">*</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">135,477</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">225,199</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">* 10/21/11 and 08/03/12.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px">&nbsp;</p></td><td></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Safety Infrastructure Solutions</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="10"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A provider of trench safety equipment to a diverse customer base across multiple end markets in Texas and the Southwestern United States.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">2,098 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/30/12</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">83,920</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">120,834</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp;&nbsp; 983 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/30/12</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">9,830</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">147,264</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">93,750</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">268,098</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Signature Systems Holding Company</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A seller and installer of a variety of modular surfaces, industrial matting and related products used for ground protection.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/15/13</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">75,509</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">29,780</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2023, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock A at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/15/13</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">28,316</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">12,167</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">103,825</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">41,947</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Smart Source Holdings LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A short-term computer rental company.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">&nbsp;&nbsp;&nbsp;&nbsp; 328 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">*</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">261,262</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">334,271</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">Warrant, exercisable until 2016, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px" align="right">&nbsp;83 shs. </p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px" align="center">*</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px" align="right">67,467</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px" align="right">&nbsp;84,671</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">* 08/31/07 and 03/06/08.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">328,729</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">418,942</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">21</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A) </b>(Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>SMB Machinery Holdings, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A reseller of used, rebuilt and refurbished packaging and processing equipment, primarily serving the bottling and food manufacturing industries.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">14% Senior Subordinated Note due 10/18/2019 (D)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">738,694</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/18/13</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">726,147</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">-</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">841 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/18/13</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">84,100</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">810,247</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Software Paradigms International Group, LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">An outsourced IT services provider focused on the retail industry.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12.5% Senior Subordinated Note due 11/23/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,727,659</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/23/16</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,693,629</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,749,986</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Strahman Holdings Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer of industrial valves and wash down equipment for a variety of industries, including chemical, petrochemical, polymer, pharmaceutical, food processing, beverage and mining.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">14% Senior Subordinated Note due 06/13/2019</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,059,783</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/13/13</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,044,011</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,070,381</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock Series A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">158,967 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/13/13</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">158,967</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">251,168</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Preferred Stock Series A-2 (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">26,543&nbsp;shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/10/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">29,994</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">41,938</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,232,972</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,363,487</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Sunrise Windows Holding Company</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer and marketer of premium vinyl windows exclusively selling to the residential remodeling and replacement market.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">16% Senior Subordinated Note due 12/14/2017</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,217,936</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,298,376</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,186,601</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">38 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/14/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">38,168</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">17,068</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2020, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">37 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/14/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">37,249</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">16,657</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">* 12/14/10, 08/17/12 and 03/31/16.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,373,793</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,220,326</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Sunvair Aerospace Group Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="7"><p style="MARGIN: 0px; TEXT-INDENT: 0px">An aerospace maintenance, repair, and overhaul provider servicing landing gears on narrow body aircraft.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12% Senior Subordinated Note due 07/31/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,215,600</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">07/31/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,194,294</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,222,946</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">68 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">07/31/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">78,150</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">62,876</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,272,444</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,285,822</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Team Drive-Away Holdings LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="7"><p style="MARGIN: 0px; TEXT-INDENT: 0px">An asset-light provider of over the road driveaway services for class 8 trucks and specialized equipment.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12.5% Senior Subordinated Note due 04/15/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">766,700</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/15/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">752,802</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">787,536</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">95,800 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/15/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">95,800</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">101,165</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">848,602</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">888,701</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p>22&nbsp;   <p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px" align="right">Babson Capital Participation Investors</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A)</b> (Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Torrent Group Holdings, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A contractor specializing in the sales and installation of engineered drywells for the retention and filtration of stormwater and nuisance water flow.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">3% Senior Subordinated Note due 12/31/2018 (D)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">634,764</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/05/13</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">-</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">634,764</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">15% Senior Subordinated Note due 12/05/2020 (D)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">64,684</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/05/13</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">219,203</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">61,450</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2023, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">28,079 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/05/13</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">219,203</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">696,214</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Tranzonic Holdings LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="14"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A producer of commercial and industrial supplies, such as safety products, janitorial supplies, work apparel, washroom and restroom supplies and sanitary care products.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">14% Senior Subordinated Note due 07/05/2019</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,567,954</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">07/05/13</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,550,030</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,567,954</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Preferred Class A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">147,727 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">07/05/13</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">147,727</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">208,199</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,697,757</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,776,153</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Tristar Global Energy Solutions, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A hydrocarbon and decontamination services provider serving refineries worldwide.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12.5% Senior Subordinated Note due 07/31/2020</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,134,863</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/23/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,116,714</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,099,014</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Veritext Corporation</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="10"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A provider of stenographic staffing and other services used during the legal deposition process.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">10.75% Second Lien Term Loan due 01/29/2023</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,725,000</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/21/16</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,692,578</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,711,739</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Vitex Packaging Group, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="10"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer of specialty packaging, primarily envelopes and tags used on tea bags.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Class B Unit (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">406,525 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/29/09</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">184,266</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Class C Unit (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">450,000 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/29/09</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">413,244</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">85,045</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class A (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">383,011 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">229,353</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit Class B (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">96,848 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">07/19/04</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">96,848</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">* 07/19/04 and 10/29/09.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">923,711</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">85,045</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>VP Holding Company</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="7"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A provider of school transportation services for special-needs and homeless children in Massachusetts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">3,632 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/31/14</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">363,158</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">577,275</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">23</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A) </b>(Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal Amount,<br>Shares, Units or<br>Ownership Percentage</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Acquisition<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Wellborn Forest Holding Company</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">A manufacturer of semi-custom kitchen and bath cabinetry.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">8% Senior Subordinated Note due 09/30/2017 (D)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="11%" align="right">1,680,931</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/30/06</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">867,531</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,260,698</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">101 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/30/06</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">101,250</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2016, to purchase</p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">51 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/30/06</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">45,790</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,014,571</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,260,698</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Westminster Acquisition LLC</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="10"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A manufacturer of premium, all-natural oyster cracker products sold under the Westminster and Olde Cape Cod brands.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12% Senior Subordinated Note due 02/03/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">373,615</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">08/03/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">367,219</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">381,420</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Limited Liability Company Unit (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">370,241 uts.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">08/03/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">370,241</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">534,721</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">737,460</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">916,141</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Whitcraft Holdings, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="8"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A leading independent manufacturer of precision formed, machined, and fabricated flight-critical aerospace components.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">205 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/16/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">205,480</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">179,753</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Warrant, exercisable until 2018, to purchase </p><p style="MARGIN: 0px 0px 0px 15px">common stock at $.01 per share (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">55 shs. </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/16/10</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">49,334</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">48,306</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">254,814</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">228,059</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Wolf-Gordon, Inc.</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="10"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A designer and specialty distributor of wallcoverings and related building products, including textiles, paint, and writeable surfaces.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12.5% Senior Subordinated Note due 07/22/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,578,588</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/22/16</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,549,012</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,624,483</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">157 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/22/16</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">156,818</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">157,127</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,705,830</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,781,610</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>WP Supply Holding Corporation</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="8"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A distributor of fresh fruits and vegetables to grocery wholesalers and foodservice distributors in the upper Midwest.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">14.5% Senior Subordinated Note due 06/12/2020</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">954,708</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/03/11</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">947,000</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">954,708</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">1,500 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/03/11</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">150,000</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">202,589</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,097,000</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,157,297</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>York Wall Holding Company</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" colspan="7"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A designer, manufacturer and marketer of wall covering products for both residential and commercial wall coverings.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">12.5% Senior Subordinated Note due 03/04/2021</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,572,322</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/04/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,546,432</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,501,661</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Common Stock (B)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px 0px 0px 45px; TEXT-INDENT: 0px" align="right">1,835 shs.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/04/15</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">183,500</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">93,642</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,729,932</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,595,303</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Total Private Placement Investments (E)</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right"><b>96,949,841</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right"><b>98,222,967</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">24</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px" align="right">Babson Capital Participation Investors</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A) </b>(Continued) </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Interest<br>Rate</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Maturity<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal<br>Amount</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Market<br>Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Rule 144A Securities - 12.78%:</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Bonds - 12.78%</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Altice Financing S.A.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">7.500</td><td valign="bottom" width="1%">%</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/15/26</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">400,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">400,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">392,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Amsted Industries</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.375</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/15/24</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">240,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">240,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">235,200</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Belden Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">07/15/24</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">210,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">210,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">203,175</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Cimpress N.V.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">7.000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/01/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">486,356</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">495,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">CITGO Petroleum Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">08/15/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">425,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">425,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">406,937</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Consolidated Energy Finance S.A.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/15/19</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">494,300</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">470,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Constellium N.V.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">7.875</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/01/21</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">373,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">373,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">384,656</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Cornerstone Chemical Company</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">9.375</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/15/18</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">375,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">379,007</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">367,500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">CTP Transportation Products, LLC</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">8.250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/15/19</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">310,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">310,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">272,800</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">CVR Partners, LP.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">9.250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">06/15/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">487,569</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">508,750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Dean Foods</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/15/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">329,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">329,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">339,693</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Digicel Group Limited</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/15/21</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">455,284</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">428,600</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Endo Finance LLC</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.375</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/31/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">490,479</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">433,750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">First Data Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/15/24</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">406,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">406,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">407,015</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">HD Supply, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/15/21</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">127,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">127,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">132,556</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Hilcorp Energy Company</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/01/24</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">335,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">335,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">312,354</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">HP Enterprise Company</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">4.900</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/15/25</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">498,652</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">522,411</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">International Wire Group</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">8.500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/15/17</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">512,124</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">495,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">J.B. Poindexter Co., Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">9.000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/01/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">520,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Jupiter Resources Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">8.500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/01/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">473,713</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">358,750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">OPE KAG Finance Sub</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">7.875</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">07/31/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">522,200</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">492,500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">LBC Tank Terminals Holding Netherlands B.V.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.875</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/15/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">663,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">679,627</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">639,795</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Mallinckrodt PLC</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">08/01/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">475,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">MEG Energy Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.375</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/30/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">370,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Micron Technology, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">08/01/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">494,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">494,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">421,135</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Micron Technology, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">7.500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/15/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">203,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">203,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">215,688</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Moog Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/01/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">503,521</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">506,250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">MPLX LP</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">4.875</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/01/24</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">487,081</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Nielsen Finance LLC</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/15/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">271,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">272,696</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">276,420</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Paragon Offshore plc. (D)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">07/15/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">175,711</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">150,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Penske Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">4.875</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">07/11/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">498,526</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">545,269</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Prime Security Services Borrower</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">9.250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/15/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">530,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Sabre GLBL, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/15/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">122,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">122,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">124,135</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Safway Group Holding LLC/Finance Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">7.000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/15/18</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">250,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">250,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">249,375</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Sinclair Broadcast Group, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.875</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/15/26</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">204,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">204,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">208,080</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">TeamHealth Holdings Inc</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">7.250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/15/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">115,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">115,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">123,064</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Topaz Marine S.A.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">8.625</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/01/18</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">471,030</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Unitymedia KabelBW GmbH</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.125</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/15/25</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">512,450</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Univision Communications, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.125</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/15/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">160,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">160,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">158,800</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">25</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Restricted Securities: (A)</b> (Continued) </p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Interest<br>Rate</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Maturity<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Shares or<br>Principal<br>Amount</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Market<br>Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Univision Communications, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.125</td><td valign="bottom" width="1%">%</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/15/25</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">419,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">424,761</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">414,286</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">UPCB Finance IV Limited</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.375</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/15/25</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">208,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">208,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">205,920</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Valeant Pharmaceuticals International</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">7.000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/01/20</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">250,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">250,487</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">220,625</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Virgin Media Secured Finance PLC</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/15/26</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">503,795</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">483,750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">VRX Escrow Corp.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.125</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/15/25</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">382,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">382,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">306,555</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Welltec A/S</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">8.000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/01/19</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">375,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">371,551</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">348,281</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">West Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.375</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">07/15/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">492,020</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">465,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Western Digital Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">10.500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/01/24</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">253,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">253,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">270,710</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">XPO Logistics, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">7.875</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/01/19</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">451,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">464,200</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">460,020</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px"><b>Total Bonds</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>18,482,579</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>17,817,366</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Common Stock - 0.00%</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">TherOX, Inc. (B)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">2</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">-</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">-</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Touchstone Health Partnership (B)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">292</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">-</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px"><b>Total Common Stock</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>-</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>-</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Total Rule 144A Securities</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>18,482,579</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>17,817,366</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Total Corporate Restricted Securities</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>115,432,420</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>116,040,333</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">26&nbsp;</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px" align="right">Babson Capital Participation Investors </p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Corporate Public Securities - 15.34%: (A)</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Interest<br>Rate</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Maturity<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal<br>Amount</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Market<br>Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Bank Loans - 0.27%</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Aquilex Holdings LLC</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.000</td><td valign="bottom" width="1%">%</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/31/20</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">157,303</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">157,048</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">149,438</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Seadrill Partners Finco, LLC</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">4.000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/21/21</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">497,449</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">208,296</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">220,867</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px"><b>Total Bank Loans</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>365,344</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>370,305</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Bonds - 15.07%</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Accuride Corp</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">9.500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">08/01/18</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">492,097</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">463,100</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">ADT Security Services Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">4.125</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">06/15/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">436,596</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">468,125</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Alcoa, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.150</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">08/15/20</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">600,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">617,533</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">649,500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Anglogold Holdings PLC</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.375</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/15/20</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">600,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">602,979</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">625,332</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Anixter, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.125</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/01/21</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">165,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">165,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">167,475</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Antero Resources Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.375</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/01/21</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">395,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">395,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">386,113</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Bank of America Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">4.000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/01/24</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">498,484</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">533,647</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Bonanza Creek Energy, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/01/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">201,250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Brunswick Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">7.125</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">08/01/27</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">504,138</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">537,750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Calumet Specialty Products Partners L.P.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">7.625</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/15/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">498,286</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">353,750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Clearwater Paper Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">4.500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/01/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">496,404</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">485,625</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Commercial Metals Company</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">4.875</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/15/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">750,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">751,163</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">708,750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">CVR Refining LLC</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/01/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">350,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">340,730</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">301,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Duke Realty Limited Partnership</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">3.875</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/15/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">502,284</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">530,129</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">EP Energy Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">9.375</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">05/01/20</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">406,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">183,596</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">287,245</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Ferrellgas Partners, L.P.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">8.625</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">06/15/20</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">650,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">650,679</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">650,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Forum Energy Technologies</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">10/01/21</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">160,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">160,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">148,400</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Frontier Communications Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.875</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/15/25</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">490,854</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">419,687</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">HealthSouth Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">7.750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/15/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">122,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">122,191</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">126,270</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">HealthSouth Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.125</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/15/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">421,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">412,081</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">412,580</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Hertz Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">04/15/19</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">220,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">218,471</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">224,599</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Hornbeck Offshore Services, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">1.500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/01/19</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">257,500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">286,875</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Hospital Corporation of America</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.375</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/01/25</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">100,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">101,653</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">102,500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Hospital Corporation of America</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">06/15/26</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">174,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">174,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">180,634</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Icahn Enterprises L.P.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">08/01/20</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">600,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">607,977</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">592,500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Jabil Circuit, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">4.700</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">09/15/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">499,984</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">502,500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Laboratory Corporation of America Holdings</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">3.600</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/01/25</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">499,310</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">518,976</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Lamar Media Corp.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.375</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/15/24</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">160,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">160,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">165,600</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Laredo Petroleum, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.625</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">01/15/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">471,250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">467,500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Lazard Group LLC</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">4.250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/14/20</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">498,916</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">532,205</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Lifepoint Hospitals, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">12/01/21</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">350,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">357,890</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">364,875</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">MasTec, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">4.875</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">03/15/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">492,147</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">463,750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Meritor, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">06/15/21</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">1,000,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">1,000,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">935,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Netflix, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">02/15/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">299,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">299,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">311,708</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Omnova Solutions, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">7.875</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">11/01/18</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">450,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">453,745</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">450,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">27</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><strong>Corporate Public Securities: (A) </strong>(Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Interest<br>Rate</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Maturity<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Shares or<br>Principal<br>Amount</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Market<br>Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Perry Ellis International, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">7.875</td><td valign="bottom" width="1%">%</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">04/01/19</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">125,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">124,392</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">125,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Precision Drilling Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.625</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">11/15/20</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">250,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">254,576</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">226,875</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Reinsurance Group of America</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">3.950</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">09/15/26</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">503,284</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">515,201</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">R.R. Donnelley &amp; Sons Company</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">04/01/24 </p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">444,690</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Sanchez Energy Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.125</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">01/15/23</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">353,902</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">386,250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Sprint Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">7.125</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">06/15/24</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">155,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">155,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">123,612</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Sprint Nextel Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">12/01/16</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">501,307</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">503,125</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Steelcase, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">6.375</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">02/15/21</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">504,680</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">570,290</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Suburban Propane Partners, L.P.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">03/01/25</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">491,250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Summit Midstream Holdings, LLC</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">08/15/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">92,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">65,995</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">79,120</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Time Warner Cable, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">02/01/20</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">495,711</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">543,472</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Tyson Foods, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">4.500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">06/15/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">510,867</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">557,044</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Weatherford International</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">4.500</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">04/15/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">514,059</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">428,750</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">William Lyon Homes</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">7.000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">08/15/22</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">500,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">495,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">WPX Energy, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">5.250</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">09/15/24</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">425,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">425,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">374,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Xerium Technologies, Inc.</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">8.875</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="center">06/15/18</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">591,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">597,954</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">582,135</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px"><b>Total Bonds</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>21,418,665</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>21,000,764</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Common Stock - 0.00%</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Nortek, Inc. (B)</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">100</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">1</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">5,931</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px"><b>Total Common Stock</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>1</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>5,931</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Total Corporate Public Securities</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>21,784,010</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>21,377,000</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">28&nbsp;</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px" align="right">Babson Capital Participation Investors</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Short-Term Security:</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Interest<br>Rate</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Maturity<br>Date</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Principal<br>Amount</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Cost</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Market<br>Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Commercial Paper - 2.87%</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">American Electric Power, Inc</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">0.760</td><td valign="bottom" width="1%">%</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">07/11/16</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">2,000,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,999,578</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,999,578</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px">Hyundai Capital America</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">0.700</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">07/06/16</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">2,000,000</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">1,999,805</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">1,999,805</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px"><b>Total Short-Term Security</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>3,999,383</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>3,999,383</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Total Investments</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" valign="bottom" width="9%" align="right"><b>101.46</b></td><td valign="bottom" width="1%"><b>%</b></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>141,215,813</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right"><b>141,416,716</b></td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Other Assets</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">10.62</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right">14,803,383</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px 0px 0px 15px">Liabilities</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">(12.08</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%">)</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">(16,840,150</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%">)</td></tr><tr><td valign="top"><p style="MARGIN: 0px"><b>Total Net Assets</b></p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" width="9%" align="right"><b>100.00</b></td><td style="PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b>%</b></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" width="9%" align="right"><b>139,379,949</b></td><td style="PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="top" width="3%">(A)</td><td valign="top">In each of the convertible note, warrant, and common stock investments, the issuer has agreed to provide certain registration rights. </td></tr><tr><td valign="top" width="3%">(B)</td><td valign="top">Non-income producing security. </td></tr><tr><td valign="top" width="3%">(C)</td><td valign="top">Security valued at fair value using methods determined in good faith by or under the direction of the Board of Trustees. </td></tr><tr><td valign="top" width="3%">(D)</td><td valign="top">Defaulted security; interest not accrued. </td></tr><tr><td valign="top" width="3%">(E)</td><td valign="top">Illiquid security. As of June 30, 2016 the values of these securities amounted to $98,222,967 or 70.47% of net assets. </td></tr><tr><td valign="top" width="3%">PIK</td><td valign="top">-&nbsp; Payment-in-kind </td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">29</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr height="15"><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Industry Classification:</b></p></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value/</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Market Value</p></td><td valign="bottom"></td><td valign="bottom"></td><td></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value/</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Market Value </p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"></td><td valign="bottom"></td><td valign="bottom" colspan="2"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom" colspan="2"></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>AEROSPACE &amp; DEFENSE - 3.82%</b></p></td><td valign="bottom"></td><td valign="bottom" colspan="2"></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Wellborn Forest Holding Company</p></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px">$</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,260,698</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top" width="36%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">API Technologies Corp.</p></td><td valign="bottom" width="1%"></td><td valign="bottom" width="1%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">$</p></td><td valign="bottom" width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,747,493</p></td><td valign="bottom" width="1%"></td><td valign="bottom" width="4%"></td><td width="36%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Wolf-Gordon, Inc.</p></td><td valign="bottom" width="1%"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom" width="1%"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom" width="9%"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,781,610</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">FMH Holdings Corporation</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,647,937</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">12,627,082</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Merex Holding Corporation</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">408,866</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>CABLE &amp; SATELLITE - 1.25%</b></p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Sunvair Aerospace Group Inc.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,285,822</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Time Warner Cable, Inc.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">543,472</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Whitcraft Holdings, Inc.</p></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">228,059</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Unitymedia KabelBW GmbH</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">512,450</p></td><td valign="bottom"></td></tr><tr height="15"><td></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">5,318,177</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">UPCB Finance IV Limited</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">205,920</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>AIRLINES - 0.33%</b></p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Virgin Media Secured Finance PLC</p></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">483,750</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">XPO Logistics, Inc.</p></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">460,020</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,745,592</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>CHEMICALS - 2.64%</b></p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>AUTOMOTIVE - 8.38%</b></p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Compass Chemical International LLC</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">112,701</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Accuride Corp</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">463,100</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Consolidated Energy Finance S.A.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">470,000</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Aurora Parts &amp; Accessories LLC</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,750,806</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Cornerstone Chemical Company</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">367,500</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">CG Holdings Manufacturing Company</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,715,165</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">CVR Partners, LP.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">508,750</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">DPL Holding Corporation</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,680,433</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">LBC Tank Terminals Holding Netherlands B.V</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">639,795</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Grakon Parent</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">187,046</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Omnova Solutions, Inc.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">450,000</p></td><td></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">J A C Holding Enterprises, Inc.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">557,501</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Polytex Holdings LLC</p></td><td valign="bottom"></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,150,537</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">J.B. Poindexter Co., Inc.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">520,000</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">3,699,283</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">K &amp; N Parent, Inc.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">235,009</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>CONSTRUCTION MACHINERY - 0.46%</b></p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Meritor, Inc.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">935,000</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">A W X Holdings Corporation</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">375,060</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Moog Inc.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">506,250</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Safety Infrastructure Solutions</p></td><td valign="bottom"></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">268,098</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Power Stop Holdings LLC</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,816,519</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">643,158</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Randy's Worldwide Automotive</p></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,308,042</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>CONSUMER CYCLICAL SERVICES - 3.45%</b></p></td><td></td><td valign="bottom"></td><td></td><td valign="bottom"></td></tr><tr height="15"><td></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">11,674,871</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">ADT Security Services Corporation</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">468,125</p></td><td></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>BANKING - 0.38%</b></p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">CHG Alternative Education Holding Company</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,065,479</p></td><td></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Bank of America Corporation</p></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">533,647</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Church Services Holding Company</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">179,119</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Cimpress N.V.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">495,000</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top" colspan="4"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>BROKERAGE, ASSET MANAGERS &amp; EXCHANGES - 0.81%</b></p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">PPC Event Services</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,605,983</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Icahn Enterprises L.P.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">592,500</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Prime Security Services Borrower</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">530,000</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Lazard Group LLC</p></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">532,205</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">West Corporation</p></td><td valign="bottom"></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">465,000</p></td><td valign="bottom"></td></tr><tr height="15"><td></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,124,705</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">4,808,706</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>BUILDING MATERIALS - 9.06%</b></p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>CONSUMER PRODUCTS - 9.50%</b></p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">ARI Holding Corporation</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">2,275,699</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">AMS Holding LLC</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">289,955</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Janus Group Holdings LLC</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">2,294,954</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Animal Supply Company</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,687,842</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Nortek, Inc.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">5,931</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Blue Wave Products, Inc.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">790,080</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">NSi Industries Holdings Inc.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,754,692</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">gloProfessional Holdings, Inc.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,304,328</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Pearlman Enterprises, Inc.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,295,011</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">GTI Holding Company</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">800,756</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Signature Systems Holding Company</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">41,947</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Handi Quilter Holding Company</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,671,044</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Sunrise Windows Holding Company</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,220,326</p></td><td valign="bottom"></td><td valign="bottom"></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">HHI Group, LLC</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">1,434,387</p></td><td valign="bottom"></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Torrent Group Holdings, Inc.</p></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">696,214</p></td><td valign="bottom"></td><td valign="bottom"></td><td></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td><td valign="bottom"></td></tr></table></p><p style="MARGIN: 0px">&nbsp;&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">See Notes to Consolidated Financial Statements</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">30</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px" align="right">Babson Capital Participation Investors </p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><strong>Industry Classification:</strong> (Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value/</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Market Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" valign="bottom" align="center"></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value/</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Market Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" width="36%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">HP Enterprise Company</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">522,411</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="4%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="36%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Impact Confections</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">1,405,738</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">K N B Holdings Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">127,893</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">JMH Investors LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">997,004</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Kyjen Company</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,338,568</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">PANOS Brands LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,812,596</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Manhattan Beachwear Holding Company</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Tyson Foods, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">557,044</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">MasTec, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">463,750</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Westminster Acquisition LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">916,141</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Master Cutlery LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,095,766</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">WP Supply Holding Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,157,297</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Perry Ellis International, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">125,000</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">13,280,739</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">York Wall Holding Company</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,595,303</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>GAMING - 1.21%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">13,247,083</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">CTM Holding, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,689,644</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>DIVERSIFIED MANUFACTURING - 5.01%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>HEALTHCARE - 3.46%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">ABC Industries, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">414,630</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">CORA Health Services, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">834,067</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Advanced Manufacturing Enterprises LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">ECG Consulting Group</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,405,704</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Airxcel Holdings</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,819,388</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">GD Dental Services LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">130,708</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Amsted Industries</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">235,200</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Healthcare Direct Holding Company</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">97,874</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Belden Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">203,175</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">HealthSouth Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">538,850</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">BP SCI LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">367,106</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Hospital Corporation of America</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">283,134</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">CTP Transportation Products, LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">272,800</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Laboratory Corporation of America Holdings</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">518,976</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">F G I Equity LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">292,728</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Lifepoint Hospitals, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">364,875</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Forum Energy Technologies</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">148,400</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">TeamHealth Holdings Inc</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">123,064</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">G C Holdings</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">127,736</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">TherOX, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Ideal Tridon Holdings, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">159,083</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Touchstone Health Partnership</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">K P I Holdings, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">415,351</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Valeant Pharmaceuticals International</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">220,625</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Motion Controls Holdings</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,067,612</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">VRX Escrow Corp.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">306,555</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">NetShape Technologies, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">99,054</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">4,824,432</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Strahman Holdings Inc</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,363,487</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>HEALTH INSURANCE - 0.37%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">6,985,750</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Reinsurance Group of America</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">515,201</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>ELECTRIC - 1.43%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>HOME CONSTRUCTION - 0.36%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">American Electric Power, Inc</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,999,578</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">William Lyon Homes</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">495,000</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>FINANCIAL OTHER - 1.52%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>INDEPENDENT - 1.78%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Hyundai Capital America</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,999,805</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Antero Resources Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">386,113</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Insurance Claims Management, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">114,917</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">EP Energy Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">287,245</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">2,114,722</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Jupiter Resources Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">358,750</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>FOOD &amp; BEVERAGE - 9.53%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Laredo Petroleum, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">467,500</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">1492 Acquisition LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">254,731</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">MEG Energy Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">370,000</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Dean Foods</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">339,693</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Precision Drilling Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">226,875</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Eagle Family Foods, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,720,519</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Sanchez Energy Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">386,250</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">F F C Holding Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">205,173</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">2,482,733</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">GenNx Novel Holding, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,511,024</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>INDUSTRIAL OTHER - 10.31%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Hollandia Produce LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,347,563</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Advanced Technologies Holdings</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">319,064</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Hospitality Mints Holding Company</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,056,216</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table>&nbsp;   <p style="MARGIN: 0px; TEXT-INDENT: 0px">See Notes to Consolidated Financial Statements</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">31</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Industry Classification: </b>(Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value/</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Market Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" valign="bottom" align="center"></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value/</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Market Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td width="36%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="4%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="36%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="9%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">AFC - Dell Holding Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">1,333,295</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Ferrellgas Partners, L.P.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">650,000</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Aquilex Holdings LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">149,438</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Suburban Propane Partners, L.P.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">491,250</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Brunswick Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">537,750</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Summit Midstream Holdings, LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">79,120</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Clough, Harbour and Associates</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">692,278</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,521,370</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Connecticut Electric, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,161,539</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>OIL FIELD SERVICES - 1.90%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Hartland Controls Holding Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,913,708</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Avantech Testing Services LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Hi-Rel Group LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,216,559</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Bonanza Creek Energy, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">201,250</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">HVAC Holdings, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,416,731</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Hilcorp Energy Company</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">312,354</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">International Wire Group</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">495,000</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Hornbeck Offshore Services, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">286,875</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Mail Communications Group, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">169,120</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Petroplex Inv Holdings LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">MC Sign Holdings LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">878,333</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Seadrill Partners Finco, LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">220,867</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Nielsen Finance LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">276,420</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Topaz Marine S.A.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">471,030</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Northwest Mailing Services, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">627,701</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Weatherford International</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">428,750</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">O E C Holding Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">168,374</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Welltec A/S</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">348,281</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Safway Group Holding LLC/Finance Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">249,375</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">WPX Energy, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">374,000</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Smart Source Holdings LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">418,942</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">2,643,407</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">SMB Machinery Holdings, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>OTHER - REITS - 0.38%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Steelcase, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">570,290</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Duke Realty Limited Partnership</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">530,129</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">Tranzonic Holdings LLC</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid"><p style="MARGIN: 0px" align="right">1,776,153</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">14,370,070</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>PACKAGING - 0.64%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"></td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">ASC Holdings, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">803,874</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>MEDIA &amp; ENTERTAINMENT - 4.16%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Vitex Packaging Group, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">85,045</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">BlueSpire Holding, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,486,597</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">888,919</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">GlynnDevins Acquisition Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">887,536</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>PAPER - 1.42%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">HOP Entertainment LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">-</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Clearwater Paper Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">485,625</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Lamar Media Corp.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">165,600</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Dunn Paper</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">910,570</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Money Mailer Equity LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,726,512</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Xerium Technologies, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">582,135</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Netflix, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">311,708</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,978,330</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">R.R. Donnelley &amp; Sons Company</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">444,690</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>PHARMACEUTICALS - 2.60%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Sinclair Broadcast Group, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">208,080</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Clarion Brands Holding Corp.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,660,485</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Univision Communications, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">573,086</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Endo Finance LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">433,750</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">5,803,809</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">ERG Holding Company LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,055,465</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>METALS &amp; MINING - 1.70%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Mallinckrodt PLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">475,000</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Alcoa, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">649,500</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">3,624,700</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Anglogold Holdings PLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">625,332</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>REFINING - 2.71%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Commercial Metals Company</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">708,750</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Calumet Specialty Products Partners L.P.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">353,750</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Constellium N.V.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">384,656</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">CITGO Petroleum Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">406,937</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">2,368,238</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">MES Partners, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,274,193</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>MIDSTREAM - 1.09%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">MPLX LP</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">487,081</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">CVR Refining LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">301,000</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Paragon Offshore plc. (D)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">150,000</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table>&nbsp;   <p style="MARGIN: 0px; TEXT-INDENT: 0px">See Notes to Consolidated Financial Statements</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p>32&nbsp;   <p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">Babson Capital Participation Investors</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>CONSOLIDATED SCHEDULE OF INVESTMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>June 30, 2016</b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Industry Classification: </b>(Continued)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value/</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Market Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" valign="bottom" align="center"></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Fair Value/</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">Market Value</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Tristar Global Energy Solutions, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom">$</td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,099,014</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>TRANSPORTATION SERVICES - 2.92%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td width="36%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" align="right">3,770,975</td><td style="PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="4%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="36%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Hertz Corporation</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="9%" align="right">224,599</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>RETAILERS - 0.10%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">MNX Holding Company</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,338,745</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">HD Supply, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">132,556</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">OPE KAG Finance Sub</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">492,500</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">Penske Corporation</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px" align="right">&nbsp;545,269</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>TECHNOLOGY - 5.44%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Team Drive-Away Holdings LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">888,701</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Anixter, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">167,475</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">VP Holding Company</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">577,275</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">First Data Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">407,015</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">4,067,089</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Glynlyon Holding Companies, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,784,395</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"></td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Jabil Circuit, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">502,500</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>WIRELESS - 0.76%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Micron Technology, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">636,823</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Digicel Group Limited</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">428,600</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">REVSpring, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">225,199</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Sprint Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">123,612</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Sabre GLBL, Inc.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">124,135</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Sprint Nextel Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">503,125</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Software Paradigms International Group, LLC</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,749,986</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">1,055,337</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Veritext Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,711,739</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>WIRELINES - 0.30%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Western Digital Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">270,710</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px">Frontier Communications Corporation</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">419,687</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">7,579,977</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Total Investments - 101.46%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 3px double" valign="bottom"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: black 3px double" valign="bottom" align="right"><b>141,416,716</b></td><td style="PADDING-BOTTOM: 3px" valign="bottom"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>TELECOMMUNICATIONS - 0.28%</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Altice Financing S.A.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" align="right">392,000</td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr></table>&nbsp;   <p style="MARGIN: 0px; TEXT-INDENT: 0px">See Notes to Consolidated Financial Statements</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">33</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b><font size="3">&nbsp; <br>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited)</b></p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cols="5" cellpadding="0" width="100%" align="center" border="0" >    <tr><td valign="top" width="2%"><p style="MARGIN: 0px"><strong>1.&nbsp;</strong></p></td><td valign="top" width="46%"><p style="MARGIN: 0px"><b>History</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Babson Capital Participation Investors (the "Trust") was organized as a Massachusetts business trust under the laws of the Commonwealth of Massachusetts pursuant to a Declaration of Trust dated April 7, 1988. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">The Trust is a diversified closed-end management investment company. Babson Capital Management LLC ("Babson Capital"), a wholly-owned indirect subsidiary of Massachusetts Mutual Life Insurance Company ("MassMutual"), acts as its investment adviser. The Trust's investment objective is to maximize total return by providing a high level of current income, the potential for growth of income, and capital appreciation. The Trust's principal investments are privately placed, below-investment grade, long-term debt obligations purchased directly from their issuers, which tend to be smaller companies. The Trust will also invest in publicly traded debt securities (including high yield securities), and in convertible preferred stocks and, subject to certain limitations, readily marketable equity securities. Below-investment grade or high yield securities have predominantly speculative characteristics with respect to the capacity of the issuer to pay interest and repay capital. In addition, the Trust may invest in high quality, readily marketable securities. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">On January 27, 1998, the Board of Trustees authorized the formation of a wholly-owned subsidiary of the Trust ("PI Subsidiary Trust") for the purpose of holding certain investments. The results of the PI Subsidiary Trust are consolidated in the accompanying financial statements. Footnote 2.D below discusses the Federal tax consequences of the PI Subsidiary Trust.</p></td><td width="2%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="2%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="48%"><p style="MARGIN: 0px"><b>Determination of Fair Value </b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">The determination of the fair value of the Trust's investments is the responsibility of the Trust's Board of Trustees (the "Trustees"). The Trustees have adopted procedures for the valuation of the Trust's securities and has delegated responsibility for applying those procedures to Babson Capital. Babson Capital has established a Pricing Committee which is responsible for setting the guidelines used in following the procedures adopted by the Trustees ensuring that those guidelines are being followed. Babson Capital considers all relevant factors that are reasonably available, through either public information or information available to Babson Capital, when determining the fair value of a security. The Trustees meet at least once each quarter to approve the value of the Trust's portfolio securities as of the close of business on the last business day of the preceding quarter. This valuation requires the approval of a majority of the Trustees of the Trust, including a majority of the Trustees who are not interested persons of the Trust or of Babson Capital. In approving valuations, the Trustees will consider reports by Babson Capital analyzing each portfolio security in accordance with the procedures and guidelines referred to above, which include the relevant factors referred to below. Babson Capital has agreed to provide such reports to the Trust at least quarterly. The consolidated financial statements include private placement restricted securities valued at $98,222,967 (70.47% of net assets) as of June 30, 2016 whose values have been estimated by the Trustees based on the process described above in the absence of readily ascertainable market values. Due to the inherent uncertainty of valuation, those estimated values may differ significantly from the values that would have been used had a ready market for the securities existed, and the differences could be material. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Following is a description of valuation methodologies used for assets recorded at fair value.</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td valign="top"><p style="MARGIN: 0px"><strong>2.</strong></p></td><td valign="top"><p style="MARGIN: 0px"><b>Significant Accounting Policies</b></p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top"><p style="MARGIN: 0px"><b>Corporate Public Securities - Bank Loans, Corporate Bonds, Preferred Stocks and Common Stocks </b></p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top"><p style="MARGIN: 0px">The following is a summary of significant accounting policies followed consistently by the Trust in the preparation of its consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"). </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">The Trustees have determined that the Trust is an investment company in accordance with Accounting Standards Codification ("ASC") 946, Financial Services - Investment Companies, for the purpose of financial reporting. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><b>A. Fair Value Measurements: </b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Under U.S. GAAP, fair value represents the price that should be received to sell an asset (exit price) in an orderly transaction between willing market participants at the measurement date. </p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top"><p style="MARGIN: 0px">The Trust uses external independent third-party pricing services to determine the fair values of its Corporate Public Securities. At June 30, 2016, 100% of the carrying value of these investments was from external pricing services. In the event that the primary pricing service does not provide a price, the Trust utilizes the pricing provided by a secondary pricing service. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Public debt securities generally trade in the over-the-counter market rather than on a securities exchange. The Trust's pricing services use multiple valuation techniques to determine fair value. In instances where significant market activity exists, the pricing services may utilize a market based approach through which quotes from market makers are used to determine fair value. In instances where significant market activity may not exist or is limited, the pricing services also utilize proprietary valuation models which may consider market characteristics such as benchmark yield curves, option adjusted spreads, credit spreads, estimated default rates, coupon rates, anticipated timing of principal underlying prepayments, collateral, and other unique security features in order to estimate the relevant cash flows, which are then discounted to calculate the fair value.&nbsp;&nbsp;&nbsp;</p></td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">34</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">Babson Capital Participation Investors</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cols="5" cellpadding="0" width="100%" align="center" border="0" >    <tr><td width="2%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="46%"><p style="MARGIN: 0px">The Trust's investments in bank loans are normally valued at the bid quotation obtained from dealers in loans by an independent pricing service in accordance with the Trust's valuation policies and procedures approved by the Trustees. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Public equity securities listed on an exchange or on the NASDAQ National Market System are valued at the last quoted sales price of that day. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Annually, Babson Capital conducts reviews of the primary pricing vendors to validate that the inputs used in that vendors' pricing process are deemed to be market observable as defined in the standard. While Babson Capital is not provided access to proprietary models of the vendors, the reviews have included on-site walk-throughs of the pricing process, methodologies and control procedures for each asset class and level for which prices are provided. The review also includes an examination of the underlying inputs and assumptions for a sample of individual securities across asset classes, credit rating levels and various durations, a process Babson Capital continues to perform annually. In addition, the pricing vendors have an established challenge process in place for all security valuations, which facilitates identification and resolution of prices that fall outside expected ranges. Babson Capital believes that the prices received from the pricing vendors are representative of prices that would be received to sell the assets at the measurement date (exit prices) and are classified appropriately in the hierarchy. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><b>Corporate Restricted Securities - Corporate Bonds </b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">The fair value of certain notes is determined using an internal model that discounts the anticipated cash flows of those notes using a specific discount rate. Changes to that discount rate are driven by changes in general interest rates, probabilities of default and credit adjustments. The discount rate used within the models to discount the future anticipated cash flows is considered a significant unobservable input. Significant increases/(decreases) in the discount rate would result in a significant (decrease)/increase to the notes' fair value.</p></td><td width="2%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="2%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="48%"><p style="MARGIN: 0px" align="justify">The fair value of certain distressed notes is based on an enterprise waterfall methodology which is discussed in the equity security valuation section below. </p><p style="MARGIN: 0px" align="justify"><b>&nbsp;</b></p><p style="MARGIN: 0px" align="justify"><b>Corporate Restricted Securities - Common Stock, Preferred Stock and Partnerships &amp; LLC's </b></p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px" align="justify">The fair value of equity securities is determined using an enterprise waterfall methodology. Under this methodology, the enterprise value of the company is first estimated and that value is then allocated to the company's outstanding debt and equity securities based on the documented priority of each class of securities in the capital structure. Generally, the waterfall proceeds from senior debt tranches of the capital structure to senior then junior subordinated debt, followed by each class of preferred stock and finally the common stock. </p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px" align="justify">To estimate a company's enterprise value, the company's trailing twelve months earnings before interest, taxes, depreciation and amortization ("EBITDA") is multiplied by a valuation multiple. </p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px" align="justify">Both the company's EBITDA and valuation multiple are considered significant unobservable inputs. Significant increases/(decreases) to the company's EBITDA and/or valuation multiple would result in significant increases/(decreases) to the equity value. An increase/(decrease) to the discount would result in a (decrease)/increase to the equity value. </p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px" align="justify"><b>Short-Term Securities </b></p><p style="MARGIN: 0px" align="justify">&nbsp;</p><p style="MARGIN: 0px" align="justify">Short-term securities, of sufficient credit quality, with more than sixty days to maturity are valued at fair value, using external independent third-party services. Short-term securities having a maturity of sixty days or less are valued at amortized cost, which approximates fair value. </p></td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cols="5" cellpadding="0" width="100%" align="center" border="0" >    <tr><td width="2%"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="11"><p style="MARGIN: 0px"><b>Quantitative Information about Level 3 Fair Value Measurements </b></p><p style="MARGIN: 0px"><strong></strong>&nbsp;</p><p style="MARGIN: 0px">The following table represents quantitative information about Level 3 fair value measurements as of June 30, 2016. </p></td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr height="15"><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="15%"></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="13%"><p style="MARGIN: 0px"><b>Fair Value</b></p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="18%"><p style="MARGIN: 0px"><b>Valuation</b></p><p style="MARGIN: 0px"><b>Technique</b></p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="18%"><p style="MARGIN: 0px"><b>Unobservable</b></p><p style="MARGIN: 0px"><b>Inputs</b></p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="18%"><p style="MARGIN: 0px"><b>Range</b></p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="18%"><p style="MARGIN: 0px"><b>Weighted<br>Average</b></p></td></tr><tr height="15"><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px" align="left"><b>Corporate Bonds</b></p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="left">$72,560,472</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Discounted Cash Flows</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Discount Rate</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">9.1% to 19.8%</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">12.4%</p></td></tr><tr height="15"><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr height="15"><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="left">$3,927,439</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Market Approach</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Valuation Multiple</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">3.7x to 10.2x</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">7.5x</p></td></tr><tr height="15"><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr height="15"><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">EBITDA</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">-$2.1 million to</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">$11.2 million</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">$5.4 million</p></td></tr><tr height="15"><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr height="15"><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px"><b>Equity Securities</b></p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="left">$21,735,056</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Market Approach</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Valuation Multiple</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">3.7x to 11.8x</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">7.5x</p></td></tr><tr height="15"><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr height="15"><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="left">Discount for lack of marketability</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">0% to 20%</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">0.2%</p></td></tr><tr height="15"><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr height="15"><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">EBITDA</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">-$2.1 million to</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">$154.4 million</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">$22.7 million</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">35</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Fair Value Hierarchy </b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">The Trust categorizes its investments measured at fair value in three levels, based on the inputs and assumptions used to determine fair value. These levels are as follows: </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Level 1 - quoted prices in active markets for identical securities </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Level 3 - significant unobservable inputs (including the Trust's own assumptions in determining the fair value of investments) </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">The following is a summary of the inputs used to value the Trust's net assets as of June 30, 2016: </p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px"><b>Assets:</b></p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>Total</b></p></td><td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>Level 1</b></p></td><td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>Level 2</b></p></td><td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="9%" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>Level 3</b></p></td><td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px dashed" valign="top"><p style="MARGIN: 0px 0px 0px 15px">Restricted Securities</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px dashed" valign="top"><p style="MARGIN: 0px 0px 0px 30px">Corporate Bonds</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">94,315,427</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">17,817,366</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">76,498,061</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px dashed" valign="top"><p style="MARGIN: 0px 0px 0px 30px">Common Stock - U.S.</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">6,946,954</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">6,946,954</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px dashed" valign="top"><p style="MARGIN: 0px 0px 0px 30px">Preferred Stock</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">5,359,754</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">5,359,754</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px dashed" valign="top"><p style="MARGIN: 0px 0px 0px 30px">Partnerships and LLCs</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">9,418,198</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">9,418,198</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px dashed" valign="top"><p style="MARGIN: 0px 0px 0px 15px">Public Securities</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px dashed" valign="top"><p style="MARGIN: 0px 0px 0px 30px">Bank Loans</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">370,305</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">370,305</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px dashed" valign="top"><p style="MARGIN: 0px 0px 0px 30px">Corporate Bonds</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">21,000,764</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">21,000,764</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px dashed" valign="top"><p style="MARGIN: 0px 0px 0px 30px">Common Stock - U.S.</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">5,931</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">5,931</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px dashed" valign="top"><p style="MARGIN: 0px 0px 0px 15px">Short-term Securities</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">3,999,383</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">3,999,383</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="9%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px"><b>Total</b></p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="9%" align="right"><b>141,416,716</b></td><td style="BORDER-BOTTOM: #808080 1px solid; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="9%" align="right"><b>5,931</b></td><td style="BORDER-BOTTOM: #808080 1px solid; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="9%" align="right"><b>43,187,818</b></td><td style="BORDER-BOTTOM: #808080 1px solid; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="9%" align="right"><b>98,222,967</b></td><td style="BORDER-BOTTOM: #808080 1px solid; PADDING-BOTTOM: 1px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr></table><p style="MARGIN: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px" align="center">See information disaggregated by security type and industry classification in the Consolidated Schedule of Investments.</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value: </p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px" align="left"><b>Assets:</b></p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="7%" colspan="2" align="center"><p style="MARGIN: 0px" align="center"><b>Beginning<br>balance at<br>12/31/2015</b></p></td><td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="7%" colspan="2" align="center"><p style="MARGIN: 0px" align="center"><b>Included in<br>earnings</b></p></td><td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="7%" colspan="2" align="center"><p style="MARGIN: 0px" align="center"><b>Purchases</b></p></td><td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="7%" colspan="2" align="center"><p style="MARGIN: 0px" align="center"><b>Sales</b></p></td><td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="7%" colspan="2" align="center"><p style="MARGIN: 0px" align="center"><b>Prepayments</b></p></td><td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="7%" colspan="2" align="center"><p style="MARGIN: 0px" align="center"><b>Transfers<br>into<br>Level 3</b></p></td><td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="7%" colspan="2" align="center"><p style="MARGIN: 0px" align="center"><b>Transfers<br>out of<br>Level 3</b></p></td><td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px" align="center">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" width="7%" colspan="2" align="center"><p style="MARGIN: 0px" align="center"><b>Ending<br>balance at<br>6/30/2016</b></p></td><td style="BORDER-BOTTOM: black 1px solid; PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px dashed" valign="top"><p style="MARGIN: 0px 0px 0px 15px">Restricted Securities</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" colspan="2" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px dashed" valign="top"><p style="MARGIN: 0px 0px 0px 30px">Corporate Bonds</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">67,658,072</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">(46,885</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">)</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">13,157,469</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">(4,774,672</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">)</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">504,077</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">$</td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">76,498,061</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px dashed" valign="top"><p style="MARGIN: 0px 0px 0px 30px" align="left">Common Stock - U.S.</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">7,806,723</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">(583,060</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">)</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">791,045</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">(1,067,754</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">)</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">6,946,954</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px dashed" valign="top"><p style="MARGIN: 0px 0px 0px 30px">Preferred Stock</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">6,609,176</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">540,119</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">126,795</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">(1,916,336</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">)</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">5,359,754</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px dashed" valign="top"><p style="MARGIN: 0px 0px 0px 30px" align="left">Partnerships and LLCs</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">9,670,199</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">355,166</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">459,294</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">(1,066,461</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%">)</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">-</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="7%" align="right">9,418,198</td><td style="BORDER-BOTTOM: #808080 1px dashed" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: #808080 1px solid"><p style="MARGIN: 0px" align="left">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="7%" align="right"><b>91,744,170</b></td><td style="BORDER-BOTTOM: #808080 1px solid; PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="7%" align="right"><b>265,340</b></td><td style="BORDER-BOTTOM: #808080 1px solid; PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="7%" align="right"><b>14,534,603</b></td><td style="BORDER-BOTTOM: #808080 1px solid; PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="7%" align="right"><b>(8,825,223</b></td><td style="BORDER-BOTTOM: #808080 1px solid; PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b>)</b></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="7%" align="right"><b>504,077</b></td><td style="BORDER-BOTTOM: #808080 1px solid; PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="7%" align="right"><b>-</b></td><td style="BORDER-BOTTOM: #808080 1px solid; PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="7%" align="right"><b>-</b></td><td style="BORDER-BOTTOM: #808080 1px solid; PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="1%"><b>$</b></td><td id="ffcell" style="BORDER-BOTTOM: #808080 1px solid" valign="bottom" width="7%" align="right"><b>98,222,967</b></td><td style="BORDER-BOTTOM: #808080 1px solid; PADDING-BOTTOM: 3px" valign="bottom" width="1%"><b><p style="MARGIN: 0px">&nbsp;</p></b></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="left">There were no transfers into or out of Level 1 and Level 2 assets.</p><p style="MARGIN: 0px" align="left">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="left">36&nbsp;</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">Babson Capital Participation Investors</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr height="15"><td></td><td>&nbsp;</td><td></td><td colspan="2"></td><td></td><td></td><td colspan="2"></td><td></td><td></td><td></td></tr><tr height="15"><td></td><td colspan="8"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="justify">Income, Gains and Losses included in Net Increase in Net Assets resulting from Operations for the year are presented in the following accounts on the Statement of Operations: </p></td><td></td><td></td><td valign="top" rowspan="7"><p style="MARGIN: 0px">The Trust is taxed as a regulated investment company and is therefore limited as to the amount of non-qualified income that it may receive as the result of operating a trade or business, e.g. the Trust's pro rata share of income allocable to the Trust by a partnership operating company. The Trust's violation of this limitation could result in the loss of its status as a regulated investment company, thereby subjecting all of its net income and capital gains to corporate taxes prior to distribution to its shareholders. The Trust, from time-to-time, identifies investment opportunities in the securities of entities that could cause such trade or business income to be allocable to the Trust. The PI Subsidiary Trust (described in Footnote 1, above) was formed in order to allow investment in such securities without adversely affecting the Trust's status as a regulated investment company. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">The PI Subsidiary Trust is not taxed as a regulated investment company. Accordingly, prior to the Trust receiving any distributions from the PI Subsidiary Trust, all of the PI Subsidiary Trust's taxable income and realized gains, including non-qualified income and realized gains, is subject to taxation at prevailing corporate tax rates. As of June 30, 2016, the PI Subsidiary Trust has incurred income tax expense of $161,219. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of the existing assets and liabilities and their respective tax basis. As of June 30, 2016, the PI Subsidiary Trust has a deferred tax liability of $579,023. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">The Trust recognizes a tax benefit from an uncertain position only if it is more likely than not that the position is sustainable, based solely on its technical merits and consideration of the relevant taxing authority's widely understood administrative practices and precedents. If this threshold is met, the Trust measures the tax benefit as the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. The Trust has evaluated and determined that the tax positions did not have a material effect on the Trust's financial position and results of operations for the six months ended June 30, 2016. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><b>E. Distributions to Shareholders: </b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">The Trust records distributions to shareholders from net investment income and net realized gains, if any, on the ex-dividend date. The Trust's net investment income dividend is declared four times per year, in April, July, October, and December. The Trust's net realized capital gain distribution, if any, is declared in December.&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td></td><td valign="bottom"></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>Net Increase in<br>Net Assets<br>Resulting from<br>Operations</b></p></td><td valign="bottom"></td><td style="BORDER-BOTTOM: 1px solid" valign="bottom" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>Change in<br>Unrealized<br>Gains &amp;<br>(Losses) in<br>Net Assets<br>from assets<br>still held</b></p></td><td valign="bottom"></td><td></td><td></td></tr><tr height="15"><td></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Interest (Amortization)</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px">$</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">121,669</p></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom"></td><td style="BORDER-BOTTOM: #808080 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">-</p></td><td valign="bottom"></td><td></td><td></td></tr><tr height="15"><td></td><td style="BORDER-BOTTOM: #808080 1px double" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="left">Net realized gain on investments before taxes</p></td><td style="BORDER-BOTTOM: #808080 1px double" valign="bottom"></td><td style="BORDER-BOTTOM: #808080 1px double" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px">$</p></td><td style="BORDER-BOTTOM: #808080 1px double" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">824,405</p></td><td style="BORDER-BOTTOM: #808080 1px double" valign="bottom"></td><td style="BORDER-BOTTOM: #808080 1px double" valign="bottom"></td><td style="BORDER-BOTTOM: #808080 1px double" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">-</p></td><td valign="bottom"></td><td></td><td></td></tr><tr height="15"><td></td><td style="BORDER-BOTTOM: #808080 1px double" valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="left">Net change in unrealized depreciation of investments before taxes</p></td><td style="BORDER-BOTTOM: #808080 1px double" valign="bottom"></td><td style="BORDER-BOTTOM: #808080 1px double" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px">$</p></td><td style="BORDER-BOTTOM: #808080 1px double" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">(680,734</p></td><td style="BORDER-BOTTOM: #808080 1px double" valign="bottom">)</td><td style="BORDER-BOTTOM: #808080 1px double" valign="bottom"></td><td style="BORDER-BOTTOM: #808080 1px double" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">(727,709</p></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px">)</p></td><td></td><td></td></tr><tr height="15"><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td><td></td></tr><tr height="15"><td></td><td valign="top" colspan="8"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>B. Accounting for Investments: </b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><strong></strong>&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Investment transactions are accounted for on the trade date. Dividend income is recorded on the ex-dividend date. Interest income is recorded on the accrual basis, including the amortization of premiums and accretion of discounts on bonds held using the yield-to-maturity method. The Trust does not accrue income when payment is delinquent and when management believes payment is questionable. </p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Realized gains and losses on investment transactions and unrealized appreciation and depreciation of investments are reported for financial statement and Federal income tax purposes on the identified cost method. </p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>C. Use of Estimates: </b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><strong></strong>&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from&nbsp;those estimates.</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p></td><td></td><td></td></tr><tr height="15"><td></td><td valign="top" colspan="8"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>D. Federal Income Taxes: </b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><strong></strong>&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">The Trust has elected to be taxed as a "regulated investment company" under the Internal Revenue Code, and intends to maintain this qualification and to distribute substantially all of its net taxable income to its shareholders. In any year when net long-term capital gains are realized by the Trust, management, after evaluating the prevailing economic conditions, will recommend that Trustees either designate the net realized long-term gains as undistributed and pay the federal capital gains taxes thereon, or distribute all or a portion of such net gains.</p></td><td></td><td valign="top"><strong>3</strong></td><td><p style="MARGIN: 0px"><b>Investment Advisory and Administrative Services Contract </b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><b>A. Services: </b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Under an Investment Advisory and Administrative Services Contract (the "Contract") with the Trust, Babson Capital has agreed to use its best efforts to present to the Trust a continuing and suitable investment program consistent with the investment objectives and policies of the Trust. Babson Capital represents the Trust in any negotiations with issuers, investment banking firms, securities brokers or dealers and other institutions or investors relating to the Trust's investments. Under the Contract, Babson Capital also provides administration of the day-to-day operations of the Trust and provides the Trust with office space and office equipment, accounting and bookkeeping services, and necessary executive, clerical and secretarial personnel for the performance of the foregoing services.</p></td></tr><tr height="15"><td width="2%"></td><td width="27%"></td><td width="1%"></td><td width="1%"></td><td width="7%"></td><td width="1%"></td><td width="1%"></td><td width="7%"></td><td width="1%"></td><td width="2%"></td><td width="2%"></td><td width="48%"></td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">37</p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><font size="3"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px"><b>(Unaudited)</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cols="5" cellpadding="0" width="100%" align="center" border="0" >    <tr><td width="2%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="46%"><p style="MARGIN: 0px"><b>B. Fee: </b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">For its services under the Contract, Babson Capital is paid a quarterly investment advisory fee equal to 0.225% of the value of the Trust's net assets as of the last business day of each fiscal quarter, an amount approximately equivalent to 0.90% on an annual basis. A majority of the Trustees, including a majority of the Trustees who are not interested persons of the Trust or of Babson Capital, approve the valuation of the Trust's net assets as of such day. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><b>C. Basis for Board Renewal of Contract </b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">At a meeting of the Trustees held on April 22, 2016, the Trustees (including a majority of the Trustees who are not "interested persons" of the Trust or Babson Capital) unanimously approved a one-year continuance of the Contract. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Prior to the meeting, the Trustees requested and received from Ropes &amp; Gray LLP, counsel to the Trust, a memorandum describing the Trustees' legal responsibilities in connection with their review and reapproval of the Contract. The Trustees also requested and received from Babson Capital extensive written and oral information regarding other matters including: the principal terms of the Contract; the reasons why Babson Capital was proposing the continuance of the Contract; Babson Capital and its personnel; the Trust's investment performance, including comparative performance information; the nature and quality of the services provided by Babson Capital to the Trust; financial strength of Babson Capital; the fee arrangements between Babson Capital and the Trust; fee and expense information, including comparative fee and expense information; profitability of the advisory arrangement to Babson Capital; and "fallout" benefits to Babson Capital resulting from the Contract. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Among other things, the Trustees discussed and considered with management (i) the aforementioned guidance provided by Ropes &amp; Gray LLP and the information provided by Babson Capital prior to the meeting and (ii) the reasons Babson Capital put forth in support of its recommendation that the Trustees approve the continuance of the Contract. These considerations are summarized below. <br>&nbsp; </p><p style="MARGIN: 0px"><b>Nature, Extent and Quality of Services to be Provided by Babson Capital to the Trust</b></p><p style="MARGIN: 0px">&nbsp;&nbsp;&nbsp; </p><p style="MARGIN: 0px">In evaluating the scope and quality of the services provided by Babson Capital to the Trust, the Trustees considered, among other factors: (i) the scope of services required to be provided by Babson Capital under the Contract; (ii) Babson Capital's ability to find and negotiate private placement securities having equity features that are consistent with the</p></td><td width="2%"><p style="MARGIN: 0px">&nbsp;</p></td><td width="2%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" width="48%"><p style="MARGIN: 0px">stated investment objectives of the Trust; (iii) the experience&nbsp;and quality of Babson Capital's staff; (iv) the strength of Babson Capital's financial condition; (v) the nature of the private placement market compared to public markets (including the fact that finding, analyzing, negotiating and servicing private placement securities is more labor-intensive than buying and selling public securities and the administration of private placement securities is more extensive, expensive, and requires greater time and expertise than a portfolio of only public securities); (vi) the potential advantages afforded to the Trust by its ability to co-invest in negotiated private placements with MassMutual and its affiliates; and (vii) the expansion of the scope of services provided by Babson Capital as a result of recent regulatory and legislative initiatives that have required increased legal, compliance and business attention and diligence. Based on such considerations, the Trustees concluded that, overall, they are satisfied with the nature, extent and quality of services provided by Babson Capital, and expected to be provided in the future, under the renewed Contract. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><b>Investment Performance </b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">The Trustees also examined the Trust's short-term, intermediate-term, and long-term performance as compared against various benchmark indices presented at the meeting, which showed that the Trust had outperformed such indices for the 1-, 3-, 5- and 10-year periods. In addition, the Trustees considered comparisons of the Trust's performance with the performance of (i) selected closed-end investment companies and funds that may invest in private placement securities and/or bank loans; (ii) selected business development companies with comparable types of investments; and (iii) investment companies included in the Lipper closed-end bond universe. It was acknowledged that, while such comparisons are helpful in judging performance, they are not directly comparable in terms of types of investments due to the fact that business development companies often report returns based on market value, which is affected by factors other than the performance of the underlying portfolio investments. Based on these considerations and the detailed performance information provided to the Trustees at the regular Board meetings each quarter, the Trustees concluded that the Trust's absolute and relative performance over time have been sufficient to warrant renewal of the Contract. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><b>Advisory Fee/Cost of Services Provided and Profitability/ Manager's "Fall-out" Benefits </b></p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px">In connection with the Trustees' consideration of the advisory fee paid by the Trust to Babson Capital under the Contract, Babson Capital noted that it was unaware of any registered closed-end investment companies that are directly comparable to the Trust in terms of the types of investments and percentages invested in private placement securities (which require more extensive advisory and administrative services than a portfolio of publicly traded securities, as previously discussed) other than Babson Capital</p></td></tr></table></p><br><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="left">38<br></p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px" align="right">Babson Capital Participation Investors</p><p style="MARGIN: 0px"><font size="3"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px"><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td></td><td valign="top" rowspan="9"><p style="MARGIN: 0px" align="justify">&nbsp;<br>Corporate Investors, which also is advised by Babson Capital. Under the terms of its Investment Services Contract, Babson Capital Corporate Investors is charged a quarterly investment advisory fee of 0.3125% of net asset value as of the end of each quarter, which is approximately equal to 1.25% annually. In considering the fee rate provided in the Contract, the Trustees noted the advisory fee charged by Babson Capital to Tower Square Capital Partners, L.P. and Tower Square Capital Partners II, III and IV, L.P., each a private mezzanine fund also managed by Babson Capital, and that the fee Babson Capital Corporate Investors charged compares favorably. <br>&nbsp; </p><p style="MARGIN: 0px">At the request of the Trustees, Babson Capital provided information concerning the profitability of Babson Capital's advisory relationship with the Trust. The Trustees also considered the non-economic benefits Babson Capital and its affiliates derived from its relationship with the Trust, including the reputational benefits derived from having the Trust listed on the New York Stock Exchange, and the de minimis amount of commissions resulting from the Trust's portfolio transactions used by Babson Capital for third-party soft dollar arrangements. The Trustees recognized that Babson Capital should be entitled to earn a reasonable level of profit for services provided to the Trust and, based on their review, concluded that they were satisfied that Babson Capital's historical level of profitability from its relationship with the Trust was not excessive and that the advisory fee structure under the Contract is reasonable. <br>&nbsp;&nbsp; </p><p style="MARGIN: 0px"><b>Economies of Scale&nbsp;<br></b></p><p style="MARGIN: 0px">&nbsp; <br>The Trustees considered the concept of economies of scale and possible advisory fee reductions if the Trust were to grow in assets. Given that the Trust is not continuously offering shares, such growth comes principally from retained net realized gain on investments and dividend reinvestment. The Trustees also examined the breakpoint features of selected competitive funds and noted that the minimum starting point for fee reductions in those funds was at least $200 million whereas the Trust's current net assets are near $139 million. The Trustees concluded that the absence of breakpoints in the fee schedule under the Contract was currently acceptable given the Trust's current size and closed-end fund structure.&nbsp;</p></td><td></td><td></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" valign="bottom" colspan="6" align="center"></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top" colspan="8"><p style="MARGIN: 0px">The Trust may redeem the Note, in whole or in part, at the principal amount proposed to be redeemed together with the accrued and unpaid interest thereon through the redemption date plus the Make Whole Premium. The Make Whole Premium equals the excess of (i) the present value of the scheduled payments of principal and interest which the Trust would have paid but for the proposed redemption, discounted at the rate of interest of U.S. Treasury obligations whose maturity approximates that of the Note plus 0.50% over (ii) the principal of the Note proposed to be redeemed. </p><p style="MARGIN: 0px">&nbsp;&nbsp; </p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px"><strong>5.&nbsp;&nbsp;&nbsp;</strong></p></td><td><p style="MARGIN: 0px"><b>Purchases and Sales of Investments </b></p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="6"><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td></td><td></td><td></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="6" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>For the six</b><br><b>months ended</b><br><b>06/30/16</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top"><strong></strong></td><td></td><td></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 1.35pt" align="center"><b>Cost of</b><br><b>Investments</b><br><b>Acquired</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>Proceeds<br>from</b><br><b>Sales or</b><br><b>Maturities</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td width="2%"></td><td width="4%"></td><td width="2%"></td><td valign="top" width="26%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Corporate restricted securities</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="7%" align="right">17,459,463</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%">$</td><td id="ffcell" valign="bottom" width="7%" align="right">16,174,841</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td></td><td></td><td></td><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Corporate public securities</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">3,352,334</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">12,159,996</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td></td><td></td><td></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="bottom"><p style="MARGIN: 0px"><strong></strong>&nbsp;</p></td><td></td><td></td><td valign="top" colspan="8"><p style="MARGIN: 0px">The aggregate cost of investments is substantially the same for financial reporting and Federal income tax purposes as of June 30, 2016. The net unrealized appreciation of investments for financial reporting and Federal tax purposes as of June 30, 2016 is $200,903 and consists of $12,474,437 appreciation and $12,273,534 depreciation. </p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px">Net unrealized depreciation of investments on the Statement of Assets and Liabilities reflects the balance net of a deferred tax liability of $579,023 on net unrealized gains on the PI Subsidiary Trust.</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td></td><td>&nbsp;</td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp; </p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td><p style="MARGIN: 0px"><strong>4.</strong></p></td><td><p style="MARGIN: 0px"><strong>Senior Indebtedness</strong></p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td valign="top" rowspan="16"></td><td></td><td></td><td valign="top"><strong>6.&nbsp;</strong></td><td colspan="8"><p style="MARGIN: 0px"><b>Quarterly Results of Investment Operations </b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td valign="top" rowspan="15"><p style="MARGIN: 0px">MassMutual holds the Trust's $15,000,000 Senior Fixed Rate Convertible Note (the "Note") issued by the Trust on December 13, 2011. The Note is due December 13, 2023 and accrues interest at 4.09% per annum. MassMutual, at its option, can convert the principal amount of the Note into common shares. The dollar amount of principal would be converted into an equivalent dollar amount of common shares based upon the average price of the common shares for ten business days prior to the notice of conversion. For the six months ended June 30, 2016, the Trust incurred total interest expense on the Note of $306,750. </p></td><td></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp; </p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td></td><td></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" colspan="6"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>March 31, 2016</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td></td><td></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>Amount</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>Per Share</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td></td><td></td><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Investment income</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">2,914,218</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td></td><td></td><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Net investment income</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">2,253,036</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">0.22</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td></td><td></td><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="left">Net realized and unrealized gain on<br>investments (net of taxes)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">655,058</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">0.06</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td></td><td></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td></td><td></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td></td><td></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" colspan="6"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>June 30, 2016</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td></td><td></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>Amount</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td style="BORDER-BOTTOM: black 1px solid" colspan="2"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>Per Share</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td></td><td></td><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Investment income</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">3,195,325</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td></td><td></td><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Net investment income</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">2,534,391</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom">$</td><td id="ffcell" valign="bottom" align="right">0.25</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td></td><td></td><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="left">Net realized and unrealized gain<br>on investments (net of taxes)</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">1,008,402</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">0.10</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td></td><td></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr height="15"><td valign="top"></td><td valign="top"><strong>7.</strong></td><td valign="top" colspan="8"><p style="MARGIN: 0px"><b>Results of Shareholder Meeting </b></p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px">The Annual Meeting of Shareholders was held on Friday, April 22, 2016. The shareholders were asked to vote to re-elect as Trustees Robert E. Joyal and Susan B. Sweeney for three year terms and Edward P. Grace III for a two year term. The shareholders approved the proposal. The Trust's other Trustees, Michael H. Brown, Barbara M. Ginader, Clifford M. Noreen and Maleyne M. Syracuse continued to serve their respective terms following the April 22, 2016 Annual</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">39<br></p><p style="MARGIN: 0px"><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="3"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS </b></font>(CONTINUED)</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>(Unaudited) </b></p><p style="MARGIN: 0px">&nbsp; </p><p style="MARGIN: 0px">Shareholder Meeting. The results of the voting are set forth below. </p><p style="MARGIN: 0px">&nbsp;</p><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td style="BORDER-BOTTOM: black 1px solid" valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>Shares for</b></p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>Withheld</b></p></td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>Total</b></p></td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="hdcell" style="BORDER-BOTTOM: black 1px solid" valign="bottom" colspan="2" align="center"><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center"><b>% of<br>Shares<br>Voted for</b></p></td><td style="PADDING-BOTTOM: 1px" valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Robert M. Joyal 8,716,630</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="7%" align="right">218,084</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="7%" align="right">8,934,714</td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom" width="1%"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" width="7%" align="right">97.56</td><td valign="bottom" width="1%">%</td><td width="52%"></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Susan B. Sweeney 8,802,213</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">132,501</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">8,934,714</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">98.52</td><td valign="bottom">%</td><td></td></tr><tr><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Edward P. Grace III 8,743,213</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">191,501</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">8,934,714</td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="bottom"><p style="MARGIN: 0px">&nbsp;</p></td><td id="ffcell" valign="bottom" align="right">97.86</td><td valign="bottom">%</td><td></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p>40<br><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table><p style="MARGIN: 0px" align="right">Babson Capital Participation Investors</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><strong>THIS PRIVACY NOTICE IS BEING PROVIDED ON BEHALF OF BABSON CAPITAL MANAGEMENT LLC AND ITS AFFILIATES; <br>BABSON CAPITAL SECURITIES LLC; <br>BABSON CAPITAL MANAGEMENT (AUSTRALIA) PTY LTD. <br>BABSON CAPITAL MANAGEMENT (JAPAN) KK; <br>BABSON CAPITAL CORNERSTONE ASIA LIMITED; <br>BABSON CAPITAL FUNDS TRUST; <br>BABSON CAPITAL GLOBAL SHORT DURATION HIGH YIELD FUND; <br>BABSON CAPITAL CORPORATE INVESTORS AND BABSON CAPITAL PARTICIPATION INVESTORS (TOGETHER, FOR <br>PURPOSES OF THIS PRIVACY NOTICE, "BABSON CAPITAL"). </strong></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">When you use Babson Capital you entrust us not only with your hard-earned assets but also with your personal and financial data. We consider your data to be private and confidential, and protecting its confidentiality is important to us. Our policies and procedures regarding your personal information are summarized below. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">We may collect non-public personal information about you from: </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr><td width="4%"></td><td valign="top" width="3%"><font style="FONT-FAMILY: Symbol" size="3">&#183;</font></td><td valign="top">Applications or other forms, interviews, or by other means; </td></tr><tr><td></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp; </p></td><tr><td></td><td valign="top"><font style="FONT-FAMILY: Symbol" size="3">&#183;</font></td><td valign="top">Consumer or other reporting agencies, government agencies, employers or others; </td></tr><tr><td></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp; </p></td><tr><td></td><td valign="top"><font style="FONT-FAMILY: Symbol" size="3">&#183;</font></td><td valign="top">Your transactions with us, our affiliates, or others; and </td></tr><tr><td></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp; </p></td><tr><td></td><td valign="top"><font style="FONT-FAMILY: Symbol" size="3">&#183;</font></td><td valign="top">Our Internet website. </td></tr></tr></tr></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">We may share the financial information we collect with our financial service affiliates, such as insurance companies, investment companies and securities broker-dealers. Additionally, so that we may continue to offer you products and services that best meet your investment needs and to effect transactions that you request or authorize, we may disclose the information we collect, as described above, to companies that perform administrative or marketing services on our behalf, such as transfer agents, custodian banks, service providers or printers and mailers that assist us in the distribution of investor materials or that provide operational support to Babson Capital. These companies are required to protect this information and will use this information only for the services for which we hire them, and are not permitted to use or share this information for any other purpose. Some of these companies may perform such services in jurisdictions other than the United States. We may share some or all of the information we collect with other financial institutions with whom we jointly market products. This may be done only if it is permitted by the state in which you live. Some disclosures may be limited to your name, contact and transaction information with us or our affiliates. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Any disclosures will be only to the extent permitted by federal and state law. Certain disclosures may require us to get an "opt-in" or "opt-out" from you. If this is required, we will do so before information is shared. Otherwise, we do not share any personal information about our customers or former customers unless authorized by the customer or as permitted by law. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">We restrict access to personal information about you to those employees who need to know that information to provide products and services to you. We maintain physical, electronic and procedural safeguards that comply with legal standards to guard your personal information. As an added measure, we do not include personal or account information in non-secure e-mails that we send you via the Internet without your prior consent. We advise you not to send such information to us in non-secure e-mails. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">This joint notice describes the privacy policies of Babson Capital, the Funds and Babson Capital Securities LLC. It applies to all Babson Capital and the Funds accounts you presently have, or may open in the future, using your social security number or federal taxpayer identification number - whether or not you remain a shareholder of our Funds or as an advisory client of Babson Capital. As mandated by rules issued by the Securities and Exchange Commission, we will be sending you this notice annually, as long as you own shares in the Funds or have an account with Babson Capital. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Babson Capital Securities LLC is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). Investors may obtain information about SIPC including the SIPC brochure by contacting SIPC online at www.sipc.org or calling (202)-371-8300. Investors may obtain information about FINRA including the FINRA Investor Brochure by contacting FINRA online at www.finra.org or by calling (800) 289-9999. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="right">May 2016 </p><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px" align="right">41<br></p><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table><p style="MARGIN: 0px" align="right">Babson Capital Participation Investors </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">This page left intentionally blank. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p>42<br><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table><p style="MARGIN: 0px" align="right">Babson Capital Participation Investors </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; 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TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">This page left intentionally blank. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="FONT-SIZE: 1px; WIDTH: 100%; BORDER-BOTTOM: #000000 1px solid; MARGIN: 0px">&nbsp;</p>44<br><table class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0" >    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td>&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cols="3" cellpadding="0" width="100%" align="center" border="0" >    <tr><td width="22%"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b><font color="#004f5a" size="3">Members of the Board of <br>Trustees </font></b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Michael H. Brown* </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Barbara M. Ginader </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Edward P. Grace III </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Robert E. Joyal </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Clifford M. Noreen </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Susan B. Sweeney* </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Maleyne M. Syracuse* </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">*Member of the Audit Committee </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b><font color="#004f5a" size="3">Officers </font></b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Clifford M. Noreen </p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Chairman </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Robert M. Shettle </p><p style="MARGIN: 0px; TEXT-INDENT: 0px">President </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">James M. Roy </p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="left">Vice President &amp; Chief Financial Officer </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Janice M. Bishop </p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Vice President, Secretary &amp; Chief </p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Legal Officer </p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Sean Feeley </p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Vice President </p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Daniel J. Florence </p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Treasurer </p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Melissa M. LaGrant </p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Chief Compliance Officer</p></td><td style="BORDER-LEFT: black 1px solid" width="2%"><p style="MARGIN: 0px">&nbsp;</p></td><td valign="top"><p style="MARGIN: 0px"><b><font color="#004f5a" size="3">DIVIDEND REINVESTMENT AND CASH PURCHASE PLAN </font></b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Babson Capital Participation Investors (the "Trust") offers a Dividend Reinvestment and Cash Purchase Plan (the "Plan"). The Plan provides a simple and automatic way for shareholders to add to their holdings in the Trust through the receipt of dividend shares issued by the Trust or through the reinvestment of cash dividends in Trust shares purchased in the open market. The dividends of each shareholder will be automatically reinvested in the Trust by DST Systems, Inc., the Transfer Agent, in accordance with the Plan, unless such shareholder elects not to participate by providing written notice to the Transfer Agent. A shareholder may terminate his or her participation by notifying the Transfer Agent in writing. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Participating shareholders may also make additional contributions to the Plan from their own funds. Such contributions may be made by personal check or other means in an amount not less than $100 nor more than $5,000 per quarter. Cash contributions must be received by the Transfer Agent at least five days (but no more then 30 days) before the payment date of a dividend or distribution. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Whenever the Trust declares a dividend payable in cash or shares, the Transfer Agent, acting on behalf of each participating shareholder, will take the dividend in shares only if the net asset value is lower than the market price plus an estimated brokerage commission as of the close of business on the valuation day. The valuation day is the last day preceding the day of dividend payment. When the dividend is to be taken in shares, the number of shares to be received is determined by dividing the cash dividend by the net asset value as of the close of business on the valuation date or, if greater than net asset value, 95% of the closing share price. If the net asset value of the shares is higher than the market value plus an estimated commission, the Transfer Agent, consistent with obtaining the best price and execution, will buy shares on the open market at current prices promptly after the dividend payment date. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">The reinvestment of dividends does not, in any way, relieve participating shareholders of any federal, state or local tax. For federal income tax purposes, the amount reportable in respect of a dividend received in newly-issued shares of the Trust will be the fair market value of the shares received, which will be reportable as ordinary income and/or capital gains. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">As compensation for its services, the Transfer Agent receives a fee of 5% of any dividend and cash contribution (in no event in excess of $2.50 per distribution per shareholder.) </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Any questions regarding the Plan should be addressed to DST Systems, Inc., Agent for Babson Capital Participation Investors' Dividend Reinvestment and Cash Purchase Plan, P.O. Box 219086, Kansas City, MO 64121-9086.</p></td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><table id="pagebreak15f14efe-db82-4cc7-9ed8-36965f01b9a4" class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0">    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid">&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr height="15"><td valign="bottom" width="8%"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><font size="4"><img src="piimg2.jpg"></font></p></td><td width="1%"></td><td valign="bottom"><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b><font color="#004f5a" size="5">Babson Capital</font></b></p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b><font color="#004f5a" size="5">Participation Investors</font></b><font size="4"></font></p></td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table  style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cols="3" cellpadding="0" width="100%" align="center" bgcolor="#004f5a" border="0">    <tr><td width="15%"><p style="MARGIN: 0px">&nbsp;</p></td><td colspan="2"><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px" align="center"><font color="white">PI6217</font></p><p style="MARGIN: 0px" align="center"><font color="#ffffff"></font>&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><table id="pagebreak2fd06802-a10d-480b-9cf4-fccacc1cb65d" class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0">    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid">&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>ITEM 2. CODE OF ETHICS.</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Not applicable for this filing.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Not applicable for this filing.</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b></b>&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Not applicable for this filing.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Not applicable for this filing.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>ITEM 6. SCHEDULE OF INVESTMENTS</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">(a)&nbsp;&nbsp; A schedule of investments for the Registrant is included as part of this report to shareholders under Item 1 of this Form N-CSR.</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">(b)&nbsp;&nbsp; Not applicable for this filing.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>ITEM 7. &nbsp;DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.</b><br></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Not applicable for this filing.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>ITEM 8.&nbsp; PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.<br></b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">The following disclosure item is made as of the date of this Form N-CSR unless otherwise indicated.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">PORTFOLIO MANAGER.&nbsp; Robert M. Shettle serves as President of the Registrant (since June 2016) and as one of its Portfolio Managers. &nbsp;Mr. Shettle began his service to the Registrant in 2015 as a Vice President. &nbsp;With over 17 years of industry experience, Mr. Shettle is a Managing Director of Babson and Head of the North America Mezzanine and Private Equity Group of Babson. &nbsp;He joined Babson in 2006. &nbsp;Prior to joining Babson, he spent six years at Fleet National Bank as a Vice President and commercial loan officer and three years at Anderson Consulting.&nbsp; At Babson, he has focused on originating, analyzing, structuring and documenting mezzanine and private equity investments. &nbsp;Mr. Shettle holds a B.S. from the University of Connecticut and a M.B.A. from Rensselaer Polytechnic Institute.&nbsp; He is also a Chartered Financial Analyst.&nbsp; Mr. Shettle also presently serves as President of Babson Capital Corporate Investors, another closed-end management investment company advised by Babson. </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">PORTFOLIO MANAGEMENT TEAM. &nbsp;Mr. Shettle has primary responsibility for overseeing the investment of the Registrant's portfolio, with the day-to-day investment management responsibility of the Registrant's portfolio being shared with the following Babson investment professional (together with the Portfolio Manager, the "Portfolio Team"). </p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Sean Feeley is responsible for the day-to-day management of the Registrant's public high yield and investment grade fixed income portfolio. &nbsp;Mr. Feeley has been a Vice President of the Registrant since 2011. &nbsp;Mr. Feeley is a Managing Director of Babson and head of the High Yield Research Team with over 22 years of industry experience in high yield bonds and loans in various investment strategies. &nbsp;Prior to joining Babson in 2003, he was a Vice President at Cigna Investment Management in project finance and a Vice President at Credit Suisse in leveraged loan finance. &nbsp;Mr. Feeley holds a B.S. from Canisius College and an M.B.A. from Cornell University. Mr. Feeley is a Certified Public Accountant and a Chartered Financial Analyst.&nbsp; Mr. Feeley also serves as Vice President of Babson Capital Corporate Investors, another closed-end management investment company advised by Babson.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><table id="pagebreak76267bcb-0035-4edb-b157-3564734ebf5e" class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0">    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid">&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>ITEM 9.&nbsp; PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.</b><br>&nbsp;</p><p style="MARGIN: 0px">&nbsp;Not applicable for this filing.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Not applicable for this filing.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px"><b>ITEM 11. CONTROLS AND PROCEDURES.</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr height="15"><td valign="top" width="6%"></td><td valign="top" width="6%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">(a)</p></td><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">The principal executive officer and principal financial officer of the Registrant evaluated the effectiveness of the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the "Act")) as of a date within 90 days of the filing date of this report and based on that evaluation have concluded that such disclosure controls and procedures are effective to provide reasonable assurance that material information required to be disclosed by the Registrant on Form N-CSR is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr height="15"><td valign="top" width="6%"></td><td valign="top" width="6%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">(b)</p></td><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) during the Registrant's second fiscal half year that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><p style="MARGIN: 0px"><b>ITEM 12. EXHIBITS.</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr height="15"><td valign="top" width="6%"></td><td valign="top" width="6%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">(a)(1)</p></td><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">ANY CODE OF ETHICS, OR AMENDMENTS THERETO, THAT IS THE SUBJECT OF DISCLOSURE REQUIRED BY ITEM 2, TO THE EXTENT THAT THE REGISTRANT INTENDS TO SATISFY THE ITEM 2 REQUIREMENTS THROUGH THE FILING OF AN EXHIBIT.</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">Not applicable for this filing.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr height="15"><td valign="top" width="6%"></td><td valign="top" width="6%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">(a)(2)</p></td><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">A SEPARATE CERTIFICATION FOR EACH PRINCIPAL EXECUTIVE OFFICER AND PRINCIPAL FINANCIAL OFFICER OF THE REGISTRANT AS REQUIRED BY RULE 30a-2 UNDER THE ACT.</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Attached hereto as EX-99.31.1</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Attached hereto as EX-99.31.2</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr height="15"><td valign="top" width="6%"></td><td valign="top" width="6%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">(a)(3)</p></td><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">ANY WRITTEN SOLICITATION TO PURCHASE SECURITIES UNDER RULE 23c-1 UNDER THE ACT (17 CFR 270.23c-1) SENT OR GIVEN DURING THE PERIOD COVERED BY THE REPORT BY OR ON BEHALF OF THE REGISTRANT TO 10 OR MORE PERSONS.</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Not applicable for this filing.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr height="15"><td valign="top" width="6%"></td><td valign="top" width="6%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">(b)</p></td><td valign="top"><p style="MARGIN: 0px; TEXT-INDENT: 0px">CERTIFICATIONS PURSUANT TO RULE 302-2(b) UNDER THE ACT.</p></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Attached hereto as EX-99.32</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><table id="pagebreak811a1db2-a379-48f2-81f4-2465b36cfb4e" class="pagebreak" style="WIDTH: 100%; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" border="0">    <tr><td class="hpbhr">&nbsp;</td></tr><tr><td style="BORDER-BOTTOM: black 1px solid">&nbsp;</td></tr><tr></tr><tr><td><div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div></td></tr><tr><td>&nbsp;</td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px" align="center">&nbsp;<b>SIGNATURES</b></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">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="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr height="15"><td width="10%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">(Registrant):</p></td><td width="34%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Babson Capital Participation Investors</p></td><td width="56%"></td></tr><tr height="15"><td width="10%"></td><td width="34%"></td><td width="56%"></td></tr><tr height="15"><td width="10%"></td><td width="34%"></td><td width="56%"></td></tr><tr height="15"><td width="10%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">By:</p></td><td style="BORDER-BOTTOM: 1px solid" width="34%" =""=""><p style="MARGIN: 0px; TEXT-INDENT: 0px"><em>/s/ Robert M. Shettle</em></p></td><td width="56%"></td></tr><tr height="15"><td width="10%"></td><td width="34%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Robert M. Shettle, President</p></td><td width="56%"></td></tr><tr height="15"><td width="10%"></td><td width="34%"></td><td width="56%"></td></tr><tr height="15"><td width="10%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Date:</p></td><td width="34%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">September 8, 2016</p></td><td width="56%"></td></tr><tr height="15"><td width="10%"></td><td width="34%"></td><td width="56%"></td></tr></table><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">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.</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px"><table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0" >    <tr height="15"><td width="10%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">By:</p></td><td style="BORDER-BOTTOM: 1px solid" width="34%" =""=""><p style="MARGIN: 0px; TEXT-INDENT: 0px"><em>/s/ Robert M. Shettle</em></p></td><td width="56%"></td></tr><tr height="15"><td width="10%"></td><td width="34%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Robert M. Shettle, President</p></td><td width="56%"></td></tr><tr height="15"><td width="10%"></td><td width="34%"></td><td width="56%"></td></tr><tr height="15"><td width="10%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Date:</p></td><td width="34%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">September 8, 2016</p></td><td width="56%"></td></tr><tr height="15"><td width="10%"></td><td width="34%"></td><td width="56%"></td></tr><tr height="15"><td width="10%"></td><td width="34%"></td><td width="56%"></td></tr><tr height="15"><td width="10%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">By:</p></td><td style="BORDER-BOTTOM: 1px solid" width="34%" =""=""><p style="MARGIN: 0px; TEXT-INDENT: 0px"><em>/s/ James M. Roy</em></p></td><td width="56%"></td></tr><tr height="15"><td width="10%"></td><td width="34%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">James M. Roy, Vice President and</p><p style="MARGIN: 0px; TEXT-INDENT: 0px">Chief Financial Officer</p></td><td width="56%"></td></tr><tr height="15"><td width="10%"></td><td width="34%"></td><td width="56%"></td></tr><tr height="15"><td width="10%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">Date:</p></td><td width="34%"><p style="MARGIN: 0px; TEXT-INDENT: 0px">September 8, 2016</p></td></tr></table></p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p><p style="MARGIN: 0px">&nbsp;</p></BODY></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.31.1
<SEQUENCE>2
<FILENAME>exh99-311.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<html><head><title>exh99-311.htm</title><!--Document Created by EDGARMaster--></head><BODY style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN; MARGIN: 0px 7%" scroll="yes"><div style="FONT-SIZE: 10pt; FONT-WEIGHT: bold; TEXT-ALIGN: right"><u>EXHIBIT-99.31.1</u></div><p style='FONT-SIZE: 13px; FONT-FAMILY: "TIMES NEW ROMAN"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px'>&nbsp;</p><p style='FONT-SIZE: 10pt; FONT-FAMILY: "TIMES NEW ROMAN"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: center; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px'><u>CERTIFICATION</u></p><p style='FONT-SIZE: 10pt; FONT-FAMILY: "TIMES NEW ROMAN"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px'>&nbsp;</p><p style='FONT-SIZE: 10pt; FONT-FAMILY: "TIMES NEW ROMAN"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: left; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px'><strong>ITEM 12(a)(2) PRINCIPAL EXECUTIVE OFFICER CERTIFICATION</strong></p><p style='FONT-SIZE: 10pt; FONT-FAMILY: "TIMES NEW ROMAN"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: left; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px'>&nbsp;</p><p style='FONT-SIZE: 10pt; FONT-FAMILY: "TIMES NEW ROMAN"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px'>I, Robert M. Shettle, certify that:</p><p style='FONT-SIZE: 10pt; FONT-FAMILY: "TIMES NEW ROMAN"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px'>&nbsp;</p><div style="TEXT-ALIGN: right"><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt 'times new roman'; font-stretch: normal" cellspacing="0" cellpadding="0" border="0" >    <tr><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top">1.</td><td valign="top" size="2"><p style="MARGIN: 0px">I have reviewed this report on Form N-CSR of Babson Capital Participation Investors;</p></td></tr><tr style="HEIGHT: 15px"><td valign="top" size="2"></td><td valign="top" size="2"></td></tr><tr><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top">2.</td><td valign="top" size="2"><p style="MARGIN: 0px">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;</p></td></tr><tr style="HEIGHT: 15px"><td valign="top" size="2"></td><td valign="top" size="2"></td></tr><tr><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top">3.</td><td valign="top" size="2"><p style="MARGIN: 0px">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;</p></td></tr><tr style="HEIGHT: 15px"><td valign="top" size="2"></td><td valign="top" size="2"></td></tr><tr><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top">4.</td><td valign="top" size="2"><p style="MARGIN: 0px">The registrant'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:</p></td></tr></table></div><div style="TEXT-ALIGN: left">&nbsp;</div><div style="TEXT-ALIGN: right"><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt 'times new roman'; font-stretch: normal" cellspacing="0" cellpadding="0" border="0" >    <tr><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top"></td><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top">a)</td><td size="2"><p style="MARGIN: 0px">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;</p></td></tr><tr style="HEIGHT: 15px"><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top"></td><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top"></td><td valign="top" size="2"></td></tr><tr><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top"></td><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top">b)</td><td size="2"><p style="MARGIN: 0px">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;</p></td></tr><tr style="HEIGHT: 15px"><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top"></td><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top"></td><td valign="top" size="2"></td></tr><tr><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top"></td><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top">c)</td><td size="2"><p style="MARGIN: 0px">Evaluated the effectiveness of the registrant'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</p></td></tr><tr style="HEIGHT: 15px"><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top"></td><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top"></td><td valign="top" size="2"></td></tr><tr><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top"></td><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top">d)</td><td size="2"><p style="MARGIN: 0px">Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</p></td></tr></table></div><div style="TEXT-ALIGN: left">&nbsp;</div><div style="TEXT-ALIGN: right"><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt 'times new roman'; font-stretch: normal" cellspacing="0" cellpadding="0" border="0" >    <tr><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top">5.</td><td valign="top" size="2"><p style="MARGIN: 0px">The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</p></td></tr></table></div><div style="TEXT-ALIGN: left">&nbsp;</div><div style="TEXT-ALIGN: right"><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt 'times new roman'; font-stretch: normal" cellspacing="0" cellpadding="0" border="0" >    <tr><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top"></td><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top">a)</td><td size="2"><p style="MARGIN: 0px">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's ability to record, process, summarize, and report financial information; and</p></td></tr><tr style="HEIGHT: 15px"><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top"></td><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top"></td><td valign="top" size="2"></td></tr><tr><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top"></td><td style="FONT-SIZE: 10pt; WIDTH: 45px" valign="top">b)</td><td size="2"><p style="MARGIN: 0px">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</p></td></tr></table></div><div style="TEXT-ALIGN: left">&nbsp;</div><div style="TEXT-ALIGN: left">&nbsp;</div><div style="TEXT-ALIGN: left"><table style='WORD-SPACING: 0px; TEXT-TRANSFORM: none; TEXT-ALIGN: left; FONT: 10pt "TIMES NEW ROMAN"; ORPHANS: 2; WIDOWS: 2; LETTER-SPACING: normal; TEXT-INDENT: 0px; -webkit-text-stroke-width: 0px; font-stretch: normal' cellspacing="0" cellpadding="0" width="100%" align="center" border="0" >    <tr style="HEIGHT: 12px"><td style='FONT: 10pt "TIMES NEW ROMAN"; font-stretch: normal' width="50%">Date:&nbsp; September 8, 2016</td><td style='FONT: 10pt "TIMES NEW ROMAN"; font-stretch: normal' width="3%">By</td><td style="BORDER-BOTTOM: black 1px solid; FONT: 10pt 'TIMES NEW ROMAN'; font-stretch: normal" width="35%">/s/&nbsp;<em>Robert M. Shettle</em></td><td width="12%"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td style='FONT: 10pt "TIMES NEW ROMAN"; font-stretch: normal'>Robert M. Shettle</td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td style='FONT: 10pt "TIMES NEW ROMAN"; font-stretch: normal'>President</td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">Babson Capital Participation Investors</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr></table></div><div style="TEXT-ALIGN: left"><p style="MARGIN: 0px">&nbsp;</p></div></BODY></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.31.2
<SEQUENCE>3
<FILENAME>exh99-312.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<html><head><title>exh99-312.htm</title><!--Document Created by EDGARMaster--></head><BODY style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN; MARGIN: 0px 7%" scroll="yes"><div style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: right"><u>EXHIBIT-99.31.2</u></div><p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px">&nbsp;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: center; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px"><u>CERTIFICATION</u></p><p style='FONT-SIZE: 13px; FONT-FAMILY: "TIMES NEW ROMAN"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px'>&nbsp;</p><p style='FONT-SIZE: 13px; FONT-FAMILY: "TIMES NEW ROMAN"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: left; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px'><strong>ITEM 12(a)(2) PRINCIPAL FINANCIAL OFFICER CERTIFICATION</strong></p><p style='FONT-SIZE: 13px; FONT-FAMILY: "TIMES NEW ROMAN"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: left; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px'>&nbsp;</p><p style='FONT-SIZE: 13px; FONT-FAMILY: "TIMES NEW ROMAN"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px'>I, James M. Roy, certify that:</p><p style='FONT-SIZE: 13px; FONT-FAMILY: "TIMES NEW ROMAN"; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px'>&nbsp;</p><div><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt 'times new roman'; font-stretch: normal" cellspacing="0" cellpadding="0" border="0" >    <tr><td style="WIDTH: 45px" valign="top">1.</td><td valign="top"><p style="MARGIN: 0px">I have reviewed this report on Form N-CSR of Babson Capital Participation Investors;</p></td></tr><tr style="HEIGHT: 15px"><td valign="top"></td><td valign="top"></td></tr><tr><td style="WIDTH: 45px" valign="top">2.</td><td valign="top"><p style="MARGIN: 0px">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;</p></td></tr><tr style="HEIGHT: 15px"><td valign="top"></td><td valign="top"></td></tr><tr><td style="WIDTH: 45px" valign="top">3.</td><td valign="top"><p style="MARGIN: 0px">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;</p></td></tr><tr style="HEIGHT: 15px"><td valign="top"></td><td valign="top"></td></tr><tr><td style="WIDTH: 45px" valign="top">4.</td><td valign="top"><p style="MARGIN: 0px">The registrant'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:</p></td></tr></table></div><div>&nbsp;</div><div><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt 'times new roman'; font-stretch: normal" cellspacing="0" cellpadding="0" border="0" >    <tr><td style="WIDTH: 45px" valign="top"></td><td style="WIDTH: 45px" valign="top">a)</td><td><p style="MARGIN: 0px">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;</p></td></tr><tr style="HEIGHT: 15px"><td style="WIDTH: 45px" valign="top"></td><td style="WIDTH: 45px" valign="top"></td><td valign="top"></td></tr><tr><td style="WIDTH: 45px" valign="top"></td><td style="WIDTH: 45px" valign="top">b)</td><td><p style="MARGIN: 0px">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;</p></td></tr><tr style="HEIGHT: 15px"><td style="WIDTH: 45px" valign="top"></td><td style="WIDTH: 45px" valign="top"></td><td valign="top"></td></tr><tr><td style="WIDTH: 45px" valign="top"></td><td style="WIDTH: 45px" valign="top">c)</td><td><p style="MARGIN: 0px">Evaluated the effectiveness of the registrant'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</p></td></tr><tr style="HEIGHT: 15px"><td style="WIDTH: 45px" valign="top"></td><td style="WIDTH: 45px" valign="top"></td><td valign="top"></td></tr><tr><td style="WIDTH: 45px" valign="top"></td><td style="WIDTH: 45px" valign="top">d)</td><td><p style="MARGIN: 0px">Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</p></td></tr></table></div><div>&nbsp;</div><div><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt 'times new roman'; font-stretch: normal" cellspacing="0" cellpadding="0" border="0" >    <tr><td style="WIDTH: 45px" valign="top">5.</td><td valign="top"><p style="MARGIN: 0px">The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</p></td></tr></table></div><div>&nbsp;</div><div><table style="WIDTH: 100%; TEXT-ALIGN: justify; FONT: 10pt 'times new roman'; font-stretch: normal" cellspacing="0" cellpadding="0" border="0" >    <tr><td style="WIDTH: 45px" valign="top"></td><td style="WIDTH: 45px" valign="top">a)</td><td><p style="MARGIN: 0px">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's ability to record, process, summarize, and report financial information; and</p></td></tr><tr style="HEIGHT: 15px"><td style="WIDTH: 45px" valign="top"></td><td style="WIDTH: 45px" valign="top"></td><td valign="top"></td></tr><tr><td style="WIDTH: 45px" valign="top"></td><td style="WIDTH: 45px" valign="top">b)</td><td><p style="MARGIN: 0px">Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</p></td></tr></table></div><div>&nbsp;</div><div><table style='WIDTH: 100%; TEXT-ALIGN: left; FONT: 10pt "TIMES NEW ROMAN"; font-stretch: normal' cellspacing="0" cellpadding="0" align="left" border="0" >    <tr><td style="WIDTH: 47%" width="50%">&nbsp;</td><td style="WIDTH: 3%" width="3%">&nbsp;</td><td style="WIDTH: 30%" width="35%">&nbsp;</td><td style="WIDTH: 15%" width="12%">&nbsp;</td></tr><tr><td style='FONT: 10pt "TIMES NEW ROMAN"; font-stretch: normal'>Date:&nbsp; September 8, 2016</td><td style='FONT: 10pt "TIMES NEW ROMAN"; font-stretch: normal'>By</td><td style="BORDER-BOTTOM: black 1px solid; FONT: 10pt 'TIMES NEW ROMAN'; font-stretch: normal">/s/&nbsp;<em>James M. Roy</em></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td style='FONT: 10pt "TIMES NEW ROMAN"; font-stretch: normal'>James M. Roy</td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td style='FONT: 10pt "TIMES NEW ROMAN"; font-stretch: normal'>Vice President and Chief Financial Officer</td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td><td><p style="MARGIN: 0px">Babson Capital Participation Investors</p></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr></table></div><div style="CLEAR: both">&nbsp;</div></BODY></html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.32
<SEQUENCE>4
<FILENAME>exh99-32.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<html><head><title>exh99-32.htm</title><!--Document Created by EDGARMaster--></head><BODY style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN; MARGIN: 0px 7%" scroll="yes"><div style="TEXT-ALIGN: right"><b><u>EXHIBIT-99.32</u></b>   <p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px">&nbsp;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: left; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px"><strong>ITEM 12(b)</strong></p><p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px">&nbsp;</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px">To my knowledge, this periodic report containing the financial statements fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that the information contained in the periodic report fairly presents, in all material respects, the financial condition and results of operations of the issuer.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px">&nbsp;</p><table style="FONT-SIZE: 10pt; FONT-FAMILY: 'times new roman', times; TEXT-ALIGN: left" cellspacing="0" cellpadding="0" width="100%" align="center" border="0" >    <tr><td style="WIDTH: 30%; FONT: 10pt 'Times New Roman', Times, serif; font-stretch: normal" width="35%"></td><td></td><td style="WIDTH: 24%; FONT: 10pt 'Times New Roman', Times, serif; font-stretch: normal" width="35%"></td></tr><tr><td style="BORDER-BOTTOM: black 1px solid; FONT: 10pt 'Times New Roman', Times, serif; font-stretch: normal">/s/&nbsp;<em>Robert M. Shettle</em></td><td></td><td style="FONT: 10pt 'Times New Roman', Times, serif; font-stretch: normal"></td></tr><tr><td style="FONT: 10pt 'Times New Roman', Times, serif; font-stretch: normal">Robert M. Shettle</td><td></td><td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><p style="MARGIN: 0px">President</p></td><td></td><td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><p style="MARGIN: 0px">Babson Capital Participation Investors</p></td><td></td><td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><p style="MARGIN: 0px">&nbsp;</p></td><td></td><td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="BORDER-BOTTOM: black 1px solid; FONT: 10pt 'Times New Roman', Times, serif; font-stretch: normal">/s/&nbsp;<em>James M. Roy</em></td><td></td><td style="FONT: 10pt 'Times New Roman', Times, serif; font-stretch: normal"></td></tr><tr><td style="FONT: 10pt 'Times New Roman', Times, serif; font-stretch: normal">James M. Roy</td><td></td><td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><p style="MARGIN: 0px">Vice President and Chief Financial Officer</p></td><td></td><td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><p style="FONT-VARIANT: normal; FONT-WEIGHT: normal; FONT-STYLE: normal; MARGIN: 0px; LINE-HEIGHT: normal; font-stretch: normal">Babson Capital Participation Investors</p></td><td></td><td style="FONT: 10pt 'Times New Roman', Times, serif; font-stretch: normal"></td></tr><tr><td style="FONT: 10pt 'Times New Roman', Times, serif; font-stretch: normal"></td><td></td><td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><p style="MARGIN: 0px">&nbsp;</p></td></tr><tr><td style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><p style="MARGIN: 0px">September 8, 2016</p></td><td></td><td><p style="MARGIN: 0px">&nbsp;</p></td></tr></table><p style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; WHITE-SPACE: normal; WORD-SPACING: 0px; TEXT-TRANSFORM: none; FONT-WEIGHT: normal; COLOR: rgb(0,0,0); FONT-STYLE: normal; TEXT-ALIGN: justify; ORPHANS: 2; WIDOWS: 2; MARGIN: 0px; LETTER-SPACING: normal; LINE-HEIGHT: normal; TEXT-INDENT: 0px; font-variant-caps: normal; font-variant-ligatures: normal; -webkit-text-stroke-width: 0px">&nbsp;</p></div></BODY></html>
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<DOCUMENT>
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end
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<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>7
<FILENAME>piimg3.jpg
<TEXT>
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end
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</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>8
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</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>9
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<TEXT>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
