<SEC-DOCUMENT>0000898531-20-000231.txt : 20200508
<SEC-HEADER>0000898531-20-000231.hdr.sgml : 20200508
<ACCEPTANCE-DATETIME>20200508111513
ACCESSION NUMBER:		0000898531-20-000231
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20200229
FILED AS OF DATE:		20200508
DATE AS OF CHANGE:		20200508
EFFECTIVENESS DATE:		20200508

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HIGH INCOME SECURITIES FUND
		CENTRAL INDEX KEY:			0000810943
		IRS NUMBER:				046562068
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0831

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-05133
		FILM NUMBER:		20859337

	BUSINESS ADDRESS:	
		STREET 1:		ONE POST OFFICE SQ
		STREET 2:		MAILSTOP A 14
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		8002251581

	MAIL ADDRESS:	
		STREET 1:		PUTNAM LLC
		STREET 2:		ONE POST OFFICE SQ
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUTNAM HIGH INCOME SECURITIES FUND
		DATE OF NAME CHANGE:	20050930

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUTNAM HIGH INCOME BOND FUND
		DATE OF NAME CHANGE:	20030408

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PUTNAM HIGH BOND FUND
		DATE OF NAME CHANGE:	20021107
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>hisf-ncsrs.htm
<DESCRIPTION>HIGH INCOME SECURITIES FUND SEMIANNUAL REPORT 2-29-20
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Dixon MRD & Co.
         Document created using EDGARfilings PROfile 6.5.1.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;" bgcolor="#ffffff">
  <div>
    <div style="text-align: center;">UNITED STATES<br>
      SECURITIES AND EXCHANGE COMMISSION<br>
      Washington, D.C. 20549</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">FORM N-CSR</div>
    <div><br>
    </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">CERTIFIED SHAREHOLDER REPORT OF REGISTERED </div>
    <div style="text-align: center; font-size: 12pt; font-weight: bold;">MANAGEMENT INVESTMENT COMPANIES</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center;">Investment Company Act file number <font style="font-weight: bold;"><u>811-05133</u></font></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center;"><font style="font-weight: bold;"><u>High Income Securities Fund</u></font><br>
      (Exact name of registrant as specified in charter)</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>615 East Michigan Street</u></div>
    <div style="text-align: center;"><font style="font-weight: bold;"><u>Milwaukee, WI 53202</u></font><br>
      (Address of principal executive offices) (Zip code)</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">High Income Securities Fund</div>
    <div style="text-align: center; font-weight: bold;">c/o US Bancorp Fund Services, LLC</div>
    <div style="text-align: center; font-weight: bold;">615 East Michigan Street</div>
    <div style="text-align: center;"><font style="font-weight: bold;">Milwaukee, WI 53202</font><br>
      (Name and address of agent for service)</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;">Copy to:</div>
    <div style="text-align: center; font-weight: bold;">Thomas R. Westle, Esq.</div>
    <div style="text-align: center; font-weight: bold;">Blank Rome LLP</div>
    <div style="text-align: center; font-weight: bold;">1271 Avenue of the Americas</div>
    <div style="text-align: center; font-weight: bold;">New York, NY 10020</div>
    <div><br>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>1-888-898-4107</u></div>
    <div style="text-align: center;">Registrant's telephone number, including area code</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>Date of fiscal year end: <font style="font-weight: bold;"><u>August 31, 2020</u></font></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>Date of reporting period:&#160; <font style="font-weight: bold;"><u>February 29, 2020</u></font></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 3px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
    <div style="font-weight: bold;"><u>Item 1. Reports to Stockholders.</u></div>
    <div><br>
    </div>
  </div>
  <div><br>
  </div>
  <div></div>
  <div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="font-size: 18pt;">High Income Securities Fund (PCF)</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="font-size: 18pt;">Semi-Annual Report</div>
    <div style="font-size: 18pt;">For the six months ended</div>
    <div style="font-size: 18pt;">February 29, 2020</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>Beginning on January 1, 2021, as permitted by regulations adopted by the U.S.&#160;Securities and Exchange Commission, paper copies of the Fund&#8217;s shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the
      reports from the Fund or from your financial intermediary (such as a broker-dealer or bank). Instead, the reports will be made available on a website, and you will be notified by mail each time a report is posted and provided with a website link to
      access the report.</div>
    <div>&#160;</div>
    <div>If you already elected to receive shareholder reports electronically, you will not be affected by this change and you need not take any action. You may elect to receive shareholder reports and other communications by contacting your financial
      intermediary (such as a broker-dealer or bank) or, if you are a direct investor, by calling the Fund&#8217;s Transfer Agent, U.S. Bancorp Fund Services, LLC, at&#160;1-888-898-4107.</div>
    <div>&#160;</div>
    <div>You may elect to receive all future reports in paper free of charge. If you invest through a financial intermediary, you can contact your financial intermediary to request that you continue to receive paper copies of your shareholder reports; if
      you invest directly with the Fund, you can call the Fund&#8217;s Transfer Agent, U.S. Bancorp Fund Services, LLC, at 1-888-898-4107. Your election to receive reports in paper form will apply to all funds held in your account with your financial
      intermediary.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter"></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <!--PROfilePageNumberReset%Num%1%%%-->
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div> <br>
    </div>
    <div>April 28, 2020</div>
    <div>&#160;</div>
    <div>Dear Fellow Shareholders:</div>
    <div>&#160;</div>
    <div>If you became an investor in the Fund since my last letter to shareholders, let me bring you up to speed.</div>
    <div>&#160;</div>
    <div>In Spring 2018, a proxy contest at the annual shareholder meeting of High Income Securities Fund (f/k/a Putnam High Income Securities Fund) culminated in the election of a new Board of Trustees and the approval of a proposal requesting the Board
      to authorize a self-tender offer at or close to net asset value (NAV).&#160; These developments led Putnam Investment Management, LLC the Fund&#8217;s investment adviser, to resign.&#160; Consequently, &#8220;Putnam&#8221; was deleted from the Fund&#8217;s name.</div>
    <div>&#160;</div>
    <div>The newly elected Trustees authorized a self-tender offer (which was completed in March 2019) for the Fund&#8217;s shares at a price of 99% of NAV.&#160; In addition, the Board approved and shareholders ratified the de-registration of the Fund as an
      investment company.&#160; All shares that were tendered were accepted, leaving the Fund with net assets of about $52&#160;million.&#160; In preparation for the self-tender offer and the potential de-registration, (1)&#160;substantially all the Fund&#8217;s portfolio
      securities were sold and the proceeds invested in cash equivalents, and (2) the monthly dividends that were historically paid were discontinued after the August 2018 dividend.</div>
    <div>&#160;</div>
    <div>In April, 2019, the Board of Trustees determined to implement a Transitional Investment Strategy to invest, within the parameters of the Fund&#8217;s existing investment policies and restrictions, in securities that are likely to generate more income.&#160;
      Meanwhile, a committee of the Board continued to explore potential acquisitions of controlling stakes in operating companies and other non-security investments.&#160; Despite ratification by shareholders of that plan in August 2019, the committee&#8217;s
      efforts did not bear fruit.&#160; Consequently, for the foreseeable future it is likely that the Fund will continue to operate as a closed-end fund.</div>
    <div>&#160;</div>
    <div>A primary focus of the Fund&#8217;s Transitional Investment Strategy has been to acquire discounted shares of income-oriented closed-end investment companies and business development companies.&#160; In addition, units or common shares issued by special
      purpose acquisition companies (or SPACs) may comprise up to 20% of the Fund&#8217;s portfolio.&#160; The Transitional Investment Committee of the Board is comprised of Andrew Dakos, Rajeev Das and me and is responsible for implementing the Transitional
      Investment Strategy.</div>
    <div> <br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">1</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div> <br>
    </div>
    <div>As a result of this strategic initiative, in August 2019 the Fund resumed paying monthly dividends, initially at an annual rate of at least 6% (or 0.5% per month), based on the NAV of the Fund&#8217;s common shares as of June 28, 2019.&#160; For the year
      2020, provided the Fund continues to be a registered investment company, it intends to make monthly distributions at an annual rate of at least 10% or 8.2 cents per month, of the NAV of the Fund&#8217;s shares as of the last business day of 2019.&#160; The
      discount of the Fund&#8217;s shares from NAV, which peaked at more than 14% last year, has narrowed, most likely as a result of the monthly distributions, to 6.9% on February 29, 2020 and less than 5% currently.</div>
    <div>&#160;</div>
    <div>Of course, we all know what has happened to the global economy since February 29th and the Fund&#8217;s NAV performance has not been spared.&#160; With so much uncertainty, it is precarious to make predictions about the timing or magnitude of a recovery.&#160;
      Nevertheless, we see many income oriented securities whose risk-reward profile appears very attractive relative to equities.&#160; In order to take advantage of these opportunities, the Board may consider broadening the Fund&#8217;s investment universe (subject
      to any required shareholder approval) and conducting a rights offering to increase its asset base.&#160; In that event, I would, as the Fund&#8217;s largest individual shareholder with 150,000 shares, expect to fully participate in the offering.</div>
    <div>&#160;</div>
    <div style="text-align: center;">***</div>
    <div>&#160;</div>
    <div>We remind you that from time to time the Fund seeks instructions from shareholders for voting its proxies for certain closed-end funds whose shares the Fund owns. The instruction forms are available at <u>http://highincomesecuritiesfund.com</u>.
      If you would like to receive an email&#160;notification when the Fund seeks proxy voting instructions for a closed-end fund whose shares it owns, please email us at <u>proxyinfo@highincomesecuritiesfund.com</u>.</div>
    <div>&#160;</div>
    <div>Sincerely yours,</div>
    <div>&#160;</div>
    <div><img src="phillip_goldstein-signature.jpg"></div>
    <div>&#160;</div>
    <div>Phillip Goldstein</div>
    <div>Chairman</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">2</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-weight: bold;"> <br>
    </div>
    <div style="font-weight: bold;">Past Performance at a glance (unaudited)</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">Average annual total returns for the periods ended 2/29/2020</div>
    <div>&#160;</div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z6101b26a4293469f8627e944493ff898" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 61.4%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Net assets value returns</div>
          </td>
          <td style="width: 11.52%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">1 year</div>
          </td>
          <td style="width: 12.78%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">5 years</div>
          </td>
          <td style="width: 14.3%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">10 years</div>
          </td>
        </tr>
        <tr>
          <td style="width: 61.4%; vertical-align: top;">
            <div>High Income Securities Fund</div>
          </td>
          <td style="width: 11.52%; vertical-align: middle;">
            <div style="text-align: center;">5.52%</div>
          </td>
          <td style="width: 12.78%; vertical-align: middle;">
            <div style="text-align: center;">4.83%</div>
          </td>
          <td style="width: 14.3%; vertical-align: middle;">
            <div style="text-align: center;">7.22%</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 61.4%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 11.52%; vertical-align: middle;">&#160;</td>
          <td rowspan="1" style="width: 12.78%; vertical-align: middle;">&#160;</td>
          <td rowspan="1" style="width: 14.3%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 61.4%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Market price returns</div>
          </td>
          <td style="width: 11.52%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 12.78%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 14.3%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 61.4%; vertical-align: top;">
            <div>High Income Securities Fund</div>
          </td>
          <td style="width: 11.52%; vertical-align: middle;">
            <div style="text-align: center;">1.13%</div>
          </td>
          <td style="width: 12.78%; vertical-align: middle;">
            <div style="text-align: center;">6.15%</div>
          </td>
          <td style="width: 14.3%; vertical-align: middle;">
            <div style="text-align: center;">6.76%</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 61.4%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 11.52%; vertical-align: middle;">&#160;</td>
          <td rowspan="1" style="width: 12.78%; vertical-align: middle;">&#160;</td>
          <td rowspan="1" style="width: 14.3%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 61.4%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Index returns</div>
          </td>
          <td style="width: 11.52%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 12.78%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 14.3%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 61.4%; vertical-align: top;">
            <div>ICE BofA Merrill Lynch 6 Month Treasury Bill Index</div>
          </td>
          <td style="width: 11.52%; vertical-align: middle;">
            <div style="text-align: center;">2.57%</div>
          </td>
          <td style="width: 12.78%; vertical-align: middle;">
            <div style="text-align: center;">1.34%</div>
          </td>
          <td style="width: 14.3%; vertical-align: middle;">
            <div style="text-align: center;">0.78%</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 61.4%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 11.52%; vertical-align: middle;">&#160;</td>
          <td rowspan="1" style="width: 12.78%; vertical-align: middle;">&#160;</td>
          <td rowspan="1" style="width: 14.3%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 61.4%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Share Price as of 2/29/2020</div>
          </td>
          <td style="width: 11.52%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 12.78%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          <td style="width: 14.3%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
        </tr>
        <tr>
          <td style="width: 61.4%; vertical-align: top;">
            <div>Net asset value</div>
          </td>
          <td style="width: 11.52%; vertical-align: middle;">&#160;</td>
          <td style="width: 12.78%; vertical-align: middle;">&#160;</td>
          <td style="width: 14.3%; vertical-align: middle;">
            <div style="text-align: center;">$9.39</div>
          </td>
        </tr>
        <tr>
          <td style="width: 61.4%; vertical-align: top;">
            <div>Market price</div>
          </td>
          <td style="width: 11.52%; vertical-align: middle;">&#160;</td>
          <td style="width: 12.78%; vertical-align: middle;">&#160;</td>
          <td style="width: 14.3%; vertical-align: middle;">
            <div style="text-align: center;">$8.74</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-weight: bold;">Effective after the close of business on July 23, 2018, the Fund became internally managed and did not pay any management fees for the six month period ended February, 2020.&#160; Generally, the Fund invests in securities of
      discounted shares of income-oriented closed-end investment companies, business development companies and Special Purpose Acquisition Vehicles.</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">Accordingly, the information presented in this report with respect to the actions and results of the Fund are not meaningful in making any conclusions as to the future performance of the Fund. See Note 8.</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">Past performance does not predict future performance. The return and value of an investment will fluctuate so that an investor&#8217;s share, when sold, may be worth more or less than their original cost. The Fund&#8217;s common
      stock net asset value (&#8220;NAV&#8221;) return assumes, for illustration only, that dividends and other distributions, if any, were reinvested at the NAV on the ex-dividend date for dividends and other distributions. The Fund&#8217;s common stock market price
      returns assume that all dividends and other distributions, if any, were reinvested at prices obtained under the Fund&#8217;s Dividend Reinvestment Plan (which was terminated on September 12, 2018) for dividends and other distributions payable through
      September 11, 2018 and reinvested at the lower of the NAV or the closing market price on the ex-dividend date for dividends and other distributions payable after September 11, 2018, and does not account for taxes.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">3</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-weight: bold;"> <br>
    </div>
    <div style="font-weight: bold;">Portfolio composition as of 2/29/2020<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup> (unaudited)</div>
    <div>&#160;</div>
    <table id="z9a62c2acc8834beaaa9ceaafd2a2caeb" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

        <tr>
          <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="text-align: center; font-weight: bold;">Value</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="text-align: center; font-weight: bold;">Percent</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Investment Companies</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>36,720,786</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>70.24</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Money Market Funds</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>8,185,376</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>15.66</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Special Purpose Acquisition Vehicles</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>7,626,854</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>14.59</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Preferred Stocks</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>292,080</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.56</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Warrants</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>163,119</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.31</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Rights</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>32,833</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.06</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Convertible Preferred Stocks</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>28,890</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.05</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Other Common Stocks</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>20,414</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.04</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Convertible Notes</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>116</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.00</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>Senior Secured Notes</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>0</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>0.00</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">Total Investments</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">53,070,468</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">101.51</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">%</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>Other Assets in Excess of Liabilities</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(788,150</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(1.51</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">Total Net Assets</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">52,282,318</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">100.00</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">%</div>
          </td>
        </tr>

    </table>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zb19017fbc7a848799418c02f05ccc54e" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 2%; vertical-align: top;">
            <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
          </td>
          <td style="width: 98%; vertical-align: top;">
            <div>As a percentage of net assets.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">4</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Portfolio of investments&#8212;February 29, 2020 (unaudited)</div>
    <div><br>
    </div>
    <table id="zec109b1ea224463f85515dd228fcf25a" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

        <tr>
          <td style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="text-align: center; font-weight: bold;">Shares</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="text-align: center; font-weight: bold;">Value</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">
            <div style="font-weight: bold;">INVESTMENT COMPANIES&#8212;70.24%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">
            <div style="font-weight: bold;">Closed-End Funds&#8212;55.37%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>BrandywineGLOBAL Global Income Fund</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>376,470</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>4,818,816</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Eaton Vance Floating-Rate Income Fund</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>166,754</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>2,563,009</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Eaton Vance Limited Duration Income Fund</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>177,657</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>2,231,372</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Eaton Vance Senior Income Trust</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>165,329</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>996,934</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>First Trust High Income Long/Short Fund</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>147,879</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>2,122,064</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>First Trust Senior Floating Rate Income Fund II</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>17,096</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>201,391</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Franklin Universal Trust</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>208,903</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>1,497,834</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Morgan Stanley India Investment Fund</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>9,350</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>174,845</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>PGIM Global High Yield Fund, Inc.</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>163,551</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>2,328,966</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Pioneer Diversified High Income Trust</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>139,601</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>2,042,363</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Rivernorth Marketplace Lending Corp.</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>141,554</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>2,562,297</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>THL Credit Senior Loan Fund</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>25,696</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>373,139</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Vertical Capital Income Fund</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>310,942</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>3,221,359</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Western Asset Corporate Loan Fund, Inc.</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>296,865</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>2,909,277</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Western Asset High Income Opportunity Fund, Inc.</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>153,128</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>736,546</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>Western Asset Variable Rate Strategic Fund</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">
            <div>10,000</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>166,600</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>28,946,812</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-weight: bold;">Business Development Companies&#8212;14.87%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Barings BDC, Inc.</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>236,803</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>2,235,420</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Crescent Capital BDC, Inc. (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>126,552</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>1,991,929</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>FS KKR Capital Corp.</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>397,039</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>2,104,307</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Garrison Capital, Inc.</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>204,037</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>1,152,809</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Portman Ridge Finance Corp.</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>31,355</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>65,532</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>THL Credit, Inc.</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>22,223</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>128,671</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>WhiteHorse Finance, Inc.</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">
            <div>7,582</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>95,306</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>7,773,974</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div style="font-weight: bold;">Total Investment Companies ($36,815,224)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">36,720,786</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-weight: bold;">CONVERTIBLE PREFERRED STOCKS&#8212;0.05%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-weight: bold;">Basic Materials&#8212;0.00%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>Smurfit-Stone Container Corp. Escrow, 0% (a)(c)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">
            <div>65,720</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>657</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-weight: bold;">Energy&#8212;0.05%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>Nine Point Energy, 6.75% (a)(c)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">
            <div>24</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>28,233</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div style="font-weight: bold;">Total Convertible Preferred Stocks (Cost $24,000)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">28,890</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center;">The accompanying notes are an integral part of these financial statements.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">5</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Portfolio of investments&#8212;February 29, 2020 (unaudited)</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <table id="z620da52d536e45f591ec988b28083d9f" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

        <tr>
          <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="text-align: center; font-weight: bold;">Shares</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="text-align: center; font-weight: bold;">Value</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">
            <div style="font-weight: bold;">OTHER COMMON STOCKS&#8212;0.04%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">
            <div style="font-weight: bold;">Energy&#8212;0.04%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>MWO Holdings, LLC Units (a)(c)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>39</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>3,231</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>Nine Point Energy (a)(c)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">
            <div>1,190</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>17,183</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div style="font-weight: bold;">Total Other Common Stocks (Cost $40,372)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">20,414</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-weight: bold;">PREFERRED STOCKS&#8212;0.56%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-weight: bold;">Investment Management &amp; Advisory Services&#8212;0.56%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>B Riley Financial, Inc. (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">
            <div>12,000</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>292,080</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div style="font-weight: bold;">Total Preferred Stocks (Cost $300,000)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">292,080</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="text-align: center; font-weight: bold;">Shares/Units</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-weight: bold;">SPECIAL PURPOSE ACQUISITION VEHICLES&#8212;14.59%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Apex Technology Acquisition Corp. Units (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>50,000</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>530,000</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>DiamondPeak Holdings Corp.&#8212;Class A (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>50,000</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>502,500</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Finserv Acquisition Corp. Units (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>31,330</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>325,832</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Forum Merger II Corp.&#8212;Class A (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>55,000</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>572,000</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>GigCapital2, Inc. (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>102,250</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>1,022,500</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Haymaker Acquisition Corp. II&#8212;Class A (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>40,341</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>416,319</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Haymaker Acquisition Corp. II Units (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>1</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>11</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>InterPrivate Acquisition Corp. (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>22,000</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>224,400</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Juniper Industrial Holdings, Inc. Units (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>47,346</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>492,398</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Landcadia Holdings II, Inc. Units (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>69,000</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>706,560</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>LGL Systems Acquisition Corp. Units (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>32,385</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>334,861</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Newborn Acquisition Corp. (a)(g)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>31,439</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>317,220</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Pivotal Investment Corp. II Units (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>15,000</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>153,750</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Proptech Acquisition Corp. Units (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>20,500</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>217,300</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>SC Health Corp. Units (a)(g)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>45,515</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>477,452</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Software Acquisition Corp.&#8212;Class A (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>28,476</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>281,913</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Tuscan Holdings Corp. II (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>83,966</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>831,263</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Tuscan Holdings Corp. II Units (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>1</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>10</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>Yunhong International Co. Ltd. Units (a)(f)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">
            <div>22,100</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>220,565</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div style="font-weight: bold;">Total Special Purpose Acquisition Vehicles (Cost $7,395,543)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">7,626,854</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>&#160;</div>
    <div style="text-align: center;">The accompanying notes are an integral part of these financial statements.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">6</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Portfolio of investments&#8212;February 29, 2020 (unaudited)</div>
    <div><br>
    </div>
    <table id="zf1d8389e23014ac7842aee6986ff750f" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: middle;" nowrap="nowrap" valign="bottom">
            <div style="text-align: center; font-weight: bold;">Principal</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: middle;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="text-align: center; font-weight: bold;">Amount</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="text-align: center; font-weight: bold;">Value</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">
            <div style="font-weight: bold;">CONVERTIBLE&#160; NOTES&#8212;0.00%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="vertical-align: top;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td rowspan="1" colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">
            <div style="font-weight: bold;">Communication Services&#8212;0.00%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">
            <div>Powerwave Technologies, Inc. Unsecured</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>&#160;&#160;3.875%, 10/01/2027 (a)(b)(c)(d)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">
            <div>1,160,000</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>116</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div style="font-weight: bold;">Total Convertible Notes (Cost $1,033,950)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">116</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="text-align: center; font-weight: bold;">Shares</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-weight: bold;">RIGHTS&#8212;0.06%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Agba Acquisition Ltd. (Expiration: May 10, 2024) (a)(f)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>36,750</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>6,248</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>GigCapital2, Inc. (Expiration: December 10, 2020) (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">
            <div>102,250</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>26,585</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div style="font-weight: bold;">Total Rights (Cost $21,585)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">32,833</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-weight: bold;">WARRANTS&#8212;0.31%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Agba Acquisition Ltd. (a)(f)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>&#160;&#160;Expiration: May 2024</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>&#160;&#160;Exercise Price: $11.50</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>36,750</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>1,867</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Churchill Capital Corp. (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>&#160;&#160;Expiration: July 2024</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>&#160;&#160;Exercise Price: $11.50</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>29,554</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>56,153</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>DiamondPeak Holdings Co. (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>&#160;&#160;Expiration: April 2024</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>&#160;&#160;Exercise Price: $11.50</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>7,000</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>7,350</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>GigCapital2, Inc. (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>&#160;&#160;Expiration: July 2024</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>&#160;&#160;Exercise Price: $11.50</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>102,250</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>39,877</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Haymaker Acquisition Corp. (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>&#160;&#160;Expiration: October 2026</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>&#160;&#160;Exercise Price: $11.50</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>13,447</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>23,398</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Software Acquisition Group, Inc. (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>&#160;&#160;Expiration: October 2026</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>&#160;&#160;Exercise Price: $11.50</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>14,238</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>14,238</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Tuscan Holdings Corp. II (a)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>&#160;&#160;Expiration: July 2025</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>&#160;&#160;Exercise Price: $11.50</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">
            <div>91,983</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>20,236</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div style="font-weight: bold;">Total Warrants (Cost $144,234)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">163,119</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>&#160;</div>
    <div style="text-align: center;">The accompanying notes are an integral part of these financial statements.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">7</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Portfolio of investments&#8212;February 29, 2020 (unaudited)</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <table id="z3d5cd316c3b9472481c137746240ec3b" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

        <tr>
          <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="text-align: center; font-weight: bold;">Shares</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="text-align: center; font-weight: bold;">Value</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">
            <div style="font-weight: bold;">MONEY MARKET FUNDS&#8212;15.66%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Fidelity Institutional Government Portfolio&#8212;Class I, 1.460% (e)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>4,092,688</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>4,092,688</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>STIT-Treasury Portfolio&#8212;Institutional Class, 1.481% (e)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">
            <div>4,092,688</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>4,092,688</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div style="font-weight: bold;">Total Money Market Funds (Cost $8,185,376)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">8,185,376</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Total Investments (Cost $53,960,284)&#8212;101.51%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>53,070,468</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>Other Assets in Excess of Liabilities&#8212;(1.51)%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(788,150</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 4px;" valign="bottom">
            <div style="font-weight: bold;">TOTAL NET ASSETS&#8212;100.00%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div style="font-weight: bold;">52,282,318</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>Percentages are stated as a percent of net assets.</div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z55dea1c720534c21a3a176253501234d" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div>(a)</div>
          </td>
          <td style="width: 97%; vertical-align: top;">
            <div>Non-income producing security.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div>(b)</div>
          </td>
          <td style="width: 97%; vertical-align: top;">
            <div>The coupon rate shown represents the rate at February 29, 2020.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div>(c)</div>
          </td>
          <td style="width: 97%; vertical-align: top;">
            <div>Fair valued securities. The total market value of these securities was $49,420, representing 0.09% of net assets. Value determined using significant unobservable inputs.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div>(d)</div>
          </td>
          <td style="width: 97%; vertical-align: top;">
            <div>Default or other conditions exist and security is not presently accruing income.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div>(e)</div>
          </td>
          <td style="width: 97%; vertical-align: top;">
            <div>The rate shown represents the 7-day yield at February 29, 2020.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div>(f)</div>
          </td>
          <td style="width: 97%; vertical-align: top;">
            <div>Foreign-issued security.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center;">The accompanying notes are an integral part of these financial statements.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">8</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Statement of assets and liabilities&#8212;February 29, 2020 (unaudited)</div>
    <div><br>
    </div>
    <table id="z91deeda3a743431887ec07ed755b8a6a" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

        <tr>
          <td style="vertical-align: top;" valign="bottom">
            <div style="font-weight: bold;">Assets:</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Investments, at value&#160; (Cost $53,960,284)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>53,070,468</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Dividends and interest receivable</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>67,915</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Other assets</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>9,605</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Total assets</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>53,147,988</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div style="font-weight: bold;">Liabilities:</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Payable for investments purchased</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>707,548</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Administration fees payable</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>21,059</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Chief Compliance Officer fees payable</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>11,607</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Audit fees payable</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>41,152</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Fund accounting fees payable</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>218</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Custody fees payable</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>1,521</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Legal fees payable</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>57,464</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Transfer Agent fees payable</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>6,755</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Reports and notices to shareholder payable</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>6,213</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Stock exchange listing fees payable</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>12,036</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Accrued expenses and other liabilities</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>97</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Total liabilities</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>865,670</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 4px;" valign="bottom">
            <div>Net assets</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>52,282,318</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div style="font-weight: bold;">Net assets consist of:</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Paid-in Capital (Unlimited shares authorized)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>53,929,631</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Accumulated deficit</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(1,647,313</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 4px;" valign="bottom">
            <div>Net assets</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>52,282,318</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Net asset value per share ($52,282,318 applicable to</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 4px;" valign="bottom">
            <div>&#160;&#160;5,565,006 shares outstanding)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>9.39</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>&#160;</div>
    <div style="text-align: center;">The accompanying notes are an integral part of these financial statements.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">9</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Statement of operations</div>
    <div><br>
    </div>
    <table id="z324dca01c2e341feb753116958da7a8e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">For the</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">six months ended</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">February 29, 2020</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">(unaudited)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">
            <div style="font-weight: bold;">Investment income:</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Dividends</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>1,714,275</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Interest</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>37,169</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Total investment income</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>1,751,444</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div style="font-weight: bold;">Expenses:</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Transitional Investment Committee fees</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>125,000</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Trustees&#8217; fees and expenses</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>92,848</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Legal fees and expenses</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>59,535</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Administration fees and expenses</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>57,111</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Compliance fees and expenses</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>44,610</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Officer fees</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>37,500</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Reports and notices to shareholders</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>23,714</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Transfer agency fees and expenses</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>17,545</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Audit fees</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>13,650</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Insurance fees</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>13,011</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Stock exchange listing fees</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>12,740</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Custody fees and expenses</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>4,384</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Accounting fees and expenses</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>649</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Other expenses</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>3,735</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Net expenses</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>506,032</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Net investment income</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>1,245,412</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div style="font-weight: bold;">Net realized and unrealized gains from investment activities:</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Net realized gain from investments</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>299,365</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Change in net unrealized appreciation on investments</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>209,263</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Net realized and unrealized gains from investment activities</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>508,628</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 4px;" valign="bottom">
            <div>Increase in net assets resulting from operations</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>1,754,040</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>&#160;</div>
    <div style="text-align: center;">The accompanying notes are an integral part of these financial statements.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">10</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Statements of changes in net assets applicable to common shareholders</div>
    <div><br>
    </div>
    <table id="z961c2810c271462e98157a62f5b4532e" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">For the</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">six months ended</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">For the</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">February 29, 2020</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">year ended</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">(unaudited)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">August 31, 2019</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">
            <div style="font-weight: bold;">From operations:</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Net investment income</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>1,245,412</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>1,264,550</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Net realized gain on investments, forward foreign</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>&#160;&#160;currency contracts and foreign currency translations</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>299,365</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>89,219</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Net unrealized appreciation/(depreciation) on investments, forward</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>&#160;&#160;foreign currency contracts and foreign currency translations</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>209,263</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(47,157</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>Net increase in net assets resulting from operations</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>1,754,040</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>1,306,612</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-weight: bold;">Distributions paid to shareholders:</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>Net dividends and distributions</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(2,283,934</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(5,620,676</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>Total dividends and distributions paid to shareholders</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(2,283,934</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(5,620,676</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-weight: bold;">Capital Stock Transactions (Note 5)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Repurchase of common stock</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>Repurchase of common stock through tender offer</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(68,129,484</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>Total capital stock transactions</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(68,129,484</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Net decrease in net assets</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>&#160;&#160;applicable to common shareholders</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(529,894</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(72,443,548</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-weight: bold;">Net assets applicable to common shareholders:</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>Beginning of period</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>52,812,212</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>125,255,760</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 4px;" valign="bottom">
            <div>End of period</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>52,282,318</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>52,812,212</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div style="font-weight: bold;">Number of Fund Shares</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Shares outstanding at beginning of period</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>5,565,006</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>12,930,356</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>Shares repurchased</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(7,365,350</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 4px;" valign="bottom">
            <div>Shares outstanding at end of period</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>5,565,006</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>5,565,006</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>&#160;</div>
    <div style="text-align: center;">The accompanying notes are an integral part of these financial statements.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">11</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Financial highlights</div>
    <div><br>
    </div>
    <div>Selected data for a share of common stock outstanding throughout each year/period is presented below:</div>
    <div>&#160;</div>
    <table id="ze7ee15f0376647469b5c363fa566edbd" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">For the six</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">months ended</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">February 29, 2020</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">(unaudited)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div style="font-weight: bold;">Net asset value, beginning of year/period</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>9.49</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Net investment income<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(1)</sup></div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.22</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Net realized and unrealized gains (losses) from investment activities</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>0.09</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div style="font-weight: bold;">Total from investment operations</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>0.31</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div style="font-weight: bold;">Less distributions:</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Net investment income</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>(0.36</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Net realized gains from investment activities</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(0.05</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div style="font-weight: bold;">Total distributions</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(0.41</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Increase from shares repurchased</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Anti-dilutive effect of Tender Offer</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 4px;" valign="bottom">
            <div style="font-weight: bold;">Net asset value, end of year/period</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>9.39</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div style="font-weight: bold;">Market price, end of year/period</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>8.74</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div><font style="font-weight: bold;">Total market price return</font><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(2)(6)</sup></div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>11.03</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div style="font-weight: bold;">Ratio to average net assets:</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Ratio of expenses to average net assets<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup></div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>1.89</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Ratio of net investment income to average net assets<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(7)</sup></div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>4.66</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div style="font-weight: bold;">Supplemental data:</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Net assets, end of year/period (000's)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>52,282</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Portfolio turnover<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(6)</sup></div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>36</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z42e1b4db589b45d7a25a13d421bdfb52" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div>(1)</div>
          </td>
          <td style="width: 97%; vertical-align: top;">
            <div>Per share net investment income has been determined on the basis of the weighted average number of shares outstanding during the period.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div>(2)</div>
          </td>
          <td style="width: 97%; vertical-align: top;">
            <div>Total market price return is calculated assuming a $10,000 purchase of common stock at the current market price on the first day of each period reported and a sale at the current market price on the last day of each period reported, and
              assuming reinvestment of dividends and other distributions to common shareholders at prices obtained under the Fund's Dividend Reinvestment Plan (which was terminated on September 12, 2018).</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div>(3)</div>
          </td>
          <td style="width: 97%; vertical-align: top;">
            <div>Includes amounts paid through expense offset and brokerage/service arrangements, if any.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div>(4)</div>
          </td>
          <td style="width: 97%; vertical-align: top;">
            <div>Includes 0.28% of increased proxy fees related to the 2017 annual shareholder meeting.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div>(5)</div>
          </td>
          <td style="width: 97%; vertical-align: top;">
            <div>Amount represents less than $0.01 per share.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div>(6)</div>
          </td>
          <td style="width: 97%; vertical-align: top;">
            <div>Not annualized for periods less than one year.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">
            <div>(7)</div>
          </td>
          <td style="width: 97%; vertical-align: top;">
            <div>Annualized for periods less than one year.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: center;">The accompanying notes are an integral part of these financial statements.</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">12</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Financial highlights (continued)</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>&#160;</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>&#160;</div>
    <table id="zb3a4e5f15e174f25bb158b5825daee4b" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

        <tr>
          <td colspan="18" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="text-align: center; font-weight: bold;">For the year ended August 31,</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="2" style="vertical-align: top; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap">
            <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">2019</div>
          </td>
          <td colspan="1" style="text-align: center; vertical-align: top; padding-bottom: 2px;" nowrap="nowrap">&#160;</td>
          <td colspan="1" style="vertical-align: top; text-align: center; padding-bottom: 2px;">&#160;</td>
          <td colspan="2" style="vertical-align: top; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap">
            <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">2018</div>
          </td>
          <td colspan="1" style="text-align: center; vertical-align: top; padding-bottom: 2px;" nowrap="nowrap">&#160;</td>
          <td colspan="1" style="vertical-align: top; text-align: center; padding-bottom: 2px;">&#160;</td>
          <td colspan="2" style="vertical-align: top; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap">
            <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">2017</div>
          </td>
          <td colspan="1" style="text-align: center; vertical-align: top; padding-bottom: 2px;" nowrap="nowrap">&#160;</td>
          <td colspan="1" style="vertical-align: top; text-align: center; padding-bottom: 2px;">&#160;</td>
          <td colspan="2" style="vertical-align: top; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap">
            <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">2016</div>
          </td>
          <td colspan="1" style="text-align: center; vertical-align: top; padding-bottom: 2px;" nowrap="nowrap">&#160;</td>
          <td colspan="1" style="vertical-align: top; text-align: center; padding-bottom: 2px;">&#160;</td>
          <td colspan="2" style="vertical-align: top; text-align: center; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap">
            <div style="font-family: 'Times New Roman',Times,serif; font-weight: bold;">2015</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>9.69</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>9.53</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>8.92</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>8.67</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>9.56</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.13</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.22</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.30</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.35</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.35</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>0.01</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>0.25</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>0.66</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>0.17</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(0.95</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>0.14</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>0.47</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>0.96</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>0.52</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(0.60</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>(0.05</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>(0.31</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>(0.37</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>(0.37</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>(0.37</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(0.41</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(0.46</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(0.31</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(0.37</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(0.37</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(0.37</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.00</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div><sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(5)</sup>&#160;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.02</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.10</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.08</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>0.12</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>9.49</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>9.69</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>9.53</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>8.92</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>8.67</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>8.24</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>9.38</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>8.77</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>8.02</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>7.33</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>-7.56</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>10.65</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>14.19</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>14.96</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>-10.87</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>1.18</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>1.47</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>1.22</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)(4)</sup></div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.94</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>0.90</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">(3)</sup></div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>1.38</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>2.26</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>3.29</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>4.15</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>3.86</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>52,812</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>125,256</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>123,607</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>118,530</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>127,027</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>43</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>49</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>50</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>26</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>35</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">
            <div>%</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">13</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Notes to financial statements (unaudited)</div>
    <div><br>
    </div>
    <div>High Income Securities Fund (the &#8220;Fund&#8221;) is a Massachusetts business trust, which is registered under the Investment Company Act of 1940, as amended, as a diversified closed-end management investment company. Effective July 24, 2018 the Fund
      changed its name to High Income Securities Fund.</div>
    <div>&#160;</div>
    <div>The goal of the Fund continues to be to provide high current income as a primary objective and capital appreciation as a secondary objective. The Fund pursues its objective primarily by investing, under normal circumstances, at least 80% of its
      net assets in fixed income securities, including debt instruments, convertible securities and preferred stocks. The Fund also invests in high-yielding non-convertible securities with the potential for capital appreciation. Please see Subsequent
      Events Note 8 regarding the Fund&#8217;s Transitional Investment Strategy.</div>
    <div>&#160;</div>
    <div>The Fund is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standard Codification Topic 946 &#8220;Financial Services &#8211; Investment
      Companies&#8221;.</div>
    <div>&#160;</div>
    <div>The Fund&#8217;s shares trade on a stock exchange at market prices, which may be lower than the Fund&#8217;s net asset value.</div>
    <div>&#160;</div>
    <div>In the normal course of business, the Fund enters into contracts that may include agreements to indemnify another party under given circumstances. The Fund&#8217;s maximum exposure under these arrangements is unknown as this would involve future claims
      that may be, but have not yet been made against the Fund. However, the Trustees expect the risk of material loss to be remote.</div>
    <div>&#160;</div>
    <div>Under the Fund&#8217;s Agreement and Declaration of Trust, any claims asserted against or on behalf of the Fund, including claims against Trustees and Officers, must be brought in state and federal courts located within the Commonwealth of
      Massachusetts.</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">Note 1: Significant Accounting Policies</div>
    <div>The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of its financial statements. The preparation of financial statements is in conformity with accounting principles generally accepted
      in the United States of America and requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities in the financial statements and the reported amounts of increases and decreases in net assets from
      operations. Actual results could differ from those estimates.</div>
    <div>&#160;</div>
    <div><font style="font-weight: bold;">Security valuation</font>&#8212;Portfolio securities and other investments are valued using policies and procedures adopted by the Trustees. The Trustees have formed a Valuation Committee to oversee the implementation of
      these procedures.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">14</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Notes to financial statements (unaudited)</div>
    <div><br>
    </div>
    <div>Investments for which market quotations are readily available are valued at the last reported sales price on their principal exchange, or official closing price for certain markets, and are classified as Level 1 securities under Accounting
      Standards Codification 820 Fair Value Measurements and Disclosures (ASC 820). If no sales are reported, as in the case of some securities that are traded OTC, a security is valued at its last reported bid price and is generally categorized as a Level
      2 security.</div>
    <div>&#160;</div>
    <div>Investments in open-end investment companies (excluding exchange-traded funds), if any, which can be classified as Level 1 or Level 2 securities, are valued based on their net asset value. The net asset value of such investment companies equals
      the total value of their assets less their liabilities and divided by the number of their outstanding shares.</div>
    <div>&#160;</div>
    <div>Market quotations are not considered to be readily available for certain debt obligations (including short-term investments with remaining maturities of 60&#160;days or less) and other investments; such investments are valued on the basis of valuations
      furnished by an independent pricing service approved by the Trustees. Such services or dealers determine valuations for normal institutional-size trading units of such securities using methods based on market transactions for comparable securities
      and various relationships, generally recognized by institutional traders, between securities (which consider such factors as security prices, yields, maturities and ratings). These securities will generally be categorized as Level 2.</div>
    <div>&#160;</div>
    <div>Many securities markets and exchanges outside the U.S. close prior to the scheduled close of the New York Stock Exchange and therefore the closing prices for securities in such markets or on such exchanges may not fully reflect events that occur
      after such close but before the scheduled close of the New York Stock Exchange. Accordingly, on certain days, the Fund will fair value certain foreign equity securities taking into account multiple factors including movements in the U.S. securities
      markets, currency valuations and comparisons to the valuation of American Depository Receipts, exchange-traded funds and futures contracts. The foreign equity securities, which would generally be classified as Level 1 securities, will be transferred
      to Level 2 of the fair value hierarchy when they are valued at fair value. The number of days on which fair value prices will be used will depend on market activity and it is possible that fair value prices will be used by the Fund to a significant
      extent. Securities quoted in foreign currencies, if any, are translated into U.S. dollars at the current exchange rate.</div>
    <div>&#160;</div>
    <div>To the extent a pricing service or dealer is unable to value a security, the security will be valued at fair value in accordance with policies and procedures approved by the Trustees. Certain investments, including certain restricted and illiquid</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">15</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Notes to financial statements (unaudited)</div>
    <div><br>
    </div>
    <div>securities and derivatives, are also valued at fair value following procedures approved by the Trustees. These valuations consider such factors as significant market or specific security events such as interest rate or credit quality changes,
      various relationships with other securities, discount rates, U.S. Treasury, U.S. swap and credit yields, index levels, convexity exposures, recovery rates, sales and other multiples and resale restrictions. These securities are classified as Level 2
      or as Level 3 depending on the priority of the significant inputs.</div>
    <div>&#160;</div>
    <div>To assess the continuing appropriateness of fair valuations, the Valuation Committee reviews and affirms the reasonableness of such valuations on a regular basis after considering all relevant information that is reasonably available. Such
      valuations and procedures are reviewed periodically by the Trustees. The fair value of securities is generally determined as the amount that the Fund could reasonably expect to realize from an orderly disposition of such securities over a reasonable
      period of time. By its nature, a fair value price is a good faith estimate of the value of a security in a current sale and does not reflect an actual market price, which may be different by a material amount.</div>
    <div>&#160;</div>
    <div>The Fund has adopted fair valuation accounting standards that establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various input and
      valuation techniques used in measuring fair value. Fair value inputs are summarized in the three broad levels listed below:</div>
    <div>&#160;</div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="za21776b5d4314a2ca729fd8a1e0b49c3" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 7%; vertical-align: top;">
            <div>Level 1&#8212;</div>
          </td>
          <td style="width: 93%; vertical-align: top;">
            <div>Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 7%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 93%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 7%; vertical-align: top;">
            <div>Level 2&#8212;</div>
          </td>
          <td style="width: 93%; vertical-align: top;">
            <div>Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices
              for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 7%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 93%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 7%; vertical-align: top;">
            <div>Level 3&#8212;</div>
          </td>
          <td style="width: 93%; vertical-align: top;">
            <div>Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund&#8217;s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and
              would be based on the best information available.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">16</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Notes to financial statements (unaudited)</div>
    <div><br>
    </div>
    <div>The following is a summary of the fair valuations according to the inputs used as of February 29, 2020 in valuing the Fund&#8217;s investments:</div>
    <div>&#160;</div>
    <table id="zf9808e72a1424839aa07cc6db5b0beb9" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">Quoted Prices in</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">Active Markets</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">for Identical</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">Significant Other</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">Unobservable</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">Investments</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">Observable Inputs</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">Inputs</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">(Level 1)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">(Level 2)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">(Level 3)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="font-weight: bold;">Total</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top;" valign="bottom">
            <div>Investment Companies</div>
          </td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: top;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman',Times,serif; margin-left: 9pt;">Closed-End Funds</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>28,946,812</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>28,946,812</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman',Times,serif; margin-left: 9pt;">Business Development Companies</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>7,773,974</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>7,773,974</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div>Convertible Preferred Stocks</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman',Times,serif; margin-left: 9pt;">Basic Materials</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>657</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>657</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman',Times,serif; margin-left: 9pt;">Energy</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>28,233</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>28,233</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div>Other Common Stocks</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div style="font-family: 'Times New Roman',Times,serif; margin-left: 9pt;">Energy</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>20,414</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>20,414</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div>Preferred Stocks</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>292,080</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>292,080</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div>Special Purpose Acquisition Vehicles</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>5,272,507</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>2,354,347</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>7,626,854</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div>Convertible Notes</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>116</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>116</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div>Rights</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>26,585</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>6,248</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>32,833</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%;" valign="bottom">
            <div>Warrants</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>23,398</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>139,721</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>163,119</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%; padding-bottom: 2px;" valign="bottom">
            <div>Money Market Funds</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>8,185,376</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>8,185,376</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 52%; padding-bottom: 4px;" valign="bottom">
            <div>Total</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>50,520,732</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>2,500,316</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>49,420</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>53,070,468</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>At the start and close of the reporting period, Level 3 investments in securities represented less than 1% of the fund&#8217;s net assets and were not considered a significant portion of the fund&#8217;s portfolio.</div>
    <div>&#160;</div>
    <div>The average monthly shares amount of warrants during the period was 277,524. The average monthly market value of warrants during the period was $142,671.</div>
    <div>&#160;</div>
    <div>The fair value of derivative instruments as reported within the Schedule of Investments as of February 29, 2020:</div>
    <div>&#160;</div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zd168d9b6dc08457d896aa99850b8c10b" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 44.58%; vertical-align: top;">
            <div style="font-weight: bold;">Derivatives not accounted</div>
          </td>
          <td style="width: 37.92%; vertical-align: middle;">
            <div style="text-align: center; font-weight: bold;">Statement of Assets &amp;</div>
          </td>
          <td style="width: 17.5%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 44.58%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">for as hedging instruments</div>
          </td>
          <td style="width: 37.92%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Liabilities Location</div>
          </td>
          <td style="width: 17.5%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Value</div>
          </td>
        </tr>
        <tr>
          <td style="width: 44.58%; vertical-align: top;">
            <div>Equity Contracts &#8211; Warrants</div>
          </td>
          <td style="width: 37.92%; vertical-align: middle;">
            <div style="text-align: center;">Investments, at value</div>
          </td>
          <td style="width: 17.5%; vertical-align: middle;">
            <div style="text-align: center;">$163,119</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">17</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Notes to financial statements (unaudited)</div>
    <div><br>
    </div>
    <div>The effect of derivative instruments on the Statement of Operations for the six months ended February 29, 2020:</div>
    <div>&#160;</div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z61dd32dc2422408cb28c2d2b7c3408a1" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 27.76%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td colspan="2" style="width: 72.24%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Amount of Realized Gain on Derivatives Recognized in Income</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.76%; vertical-align: top;">
            <div style="font-weight: bold;">Derivatives not accounted</div>
          </td>
          <td style="width: 62.46%; vertical-align: middle;">
            <div style="text-align: center; font-weight: bold;">Statement of</div>
          </td>
          <td style="width: 9.78%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27.76%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">for as hedging instruments</div>
          </td>
          <td style="width: 62.46%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Operations Location</div>
          </td>
          <td style="width: 9.78%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Value</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Equity Contracts &#8211; Warrants</div>
          </td>
          <td style="width: 62.46%; vertical-align: middle;">
            <div style="text-align: center;">Net Realized Gain on Investments</div>
          </td>
          <td style="width: 9.78%; vertical-align: middle;">
            <div style="text-align: center;">$&#160;&#160;&#160;&#160; &#160; &#8212;</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 27.76%; vertical-align: top;">&#160;</td>
          <td rowspan="1" colspan="2" style="width: 72.24%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27.76%; vertical-align: top;">&#160;</td>
          <td colspan="2" style="width: 72.24%; vertical-align: middle;">
            <div style="text-align: center; font-weight: bold;">Change in Unrealized Appreciation (Depreciation)</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.76%; vertical-align: top; padding-bottom: 2px;">&#160;</td>
          <td colspan="2" rowspan="1" style="width: 62.46%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">on Derivatives Recognized in Income</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.76%; vertical-align: top;">
            <div style="font-weight: bold;">Derivatives not accounted</div>
          </td>
          <td style="width: 62.46%; vertical-align: middle;">
            <div style="text-align: center; font-weight: bold;">Statement of</div>
          </td>
          <td style="width: 9.78%; vertical-align: middle;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 27.76%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">for as hedging instruments</div>
          </td>
          <td style="width: 62.46%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Operations Location</div>
          </td>
          <td style="width: 9.78%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Total</div>
          </td>
        </tr>
        <tr>
          <td style="width: 27.76%; vertical-align: top;">
            <div>Equity Contracts &#8211; Warrants</div>
          </td>
          <td style="width: 62.46%; vertical-align: middle;">
            <div style="text-align: center;">Net change in unrealized appreciation of investments</div>
          </td>
          <td style="width: 9.78%; vertical-align: middle;">
            <div style="text-align: center;">$13,500</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><font style="font-weight: bold;">Investment transactions and investment income</font>&#8212;Security transactions and related investment income security transactions are recorded on the trade date (the date the order to buy or sell is executed).
      Realized gains or losses on securities sold are determined on the identified cost basis. Interest income, net of any applicable withholding taxes, is recorded on the accrual basis. Dividend income, net of any applicable withholding taxes, is
      recognized on the ex-dividend date except that certain dividends from foreign securities, if any, are recognized as soon as the Fund is informed of the ex-dividend date. Non-cash dividends, if any, are recorded at the fair value of the securities
      received. Discounts are accreted and premiums are amortized using the constant yield method as adjustments to interest income and the identified cost of investments. Dividends representing a return of capital or capital gains, if any, are reflected
      as a reduction of cost and/or as a realized gain.</div>
    <div>&#160;</div>
    <div><font style="font-weight: bold;">Foreign currency translation</font>&#8212;The accounting records of the Fund are maintained in U.S. dollars. The fair value of foreign securities, currency holdings, and other assets and liabilities is recorded in the
      books and records of the Fund after translation to U.S. dollars based on the exchange rates on that day. The cost of each security is determined using historical exchange rates. Income and withholding taxes are translated at prevailing exchange rates
      when earned or incurred. The Fund does not isolate that portion of realized or unrealized gains or losses resulting from changes in the foreign exchange rate on investments from fluctuations arising from changes in the market prices of the
      securities. Such gains and losses are included with the net realized and unrealized gain or loss on investments. Net realized gains and losses on foreign currency transactions represent net realized exchange gains or losses on disposition of foreign
      currencies, currency gains and losses realized between the trade and settlement dates on securities transactions and the difference between the amount of investment income and foreign withholding taxes recorded on the Fund&#8217;s books and the U.S. dollar
      equivalent amounts actually received or paid. Net unrealized appreciation and depreciation of assets and liabilities in foreign currencies arise from changes in the value of assets and liabilities other than investments at the period end, resulting
      from changes in the exchange rate.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">18</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Notes to financial statements (unaudited)</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Note 2: Federal Tax Status</div>
    <div>The Fund has elected to be taxed as a &#8220;regulated investment company&#8221; and intends to distribute substantially all of its taxable income within the prescribed time period and otherwise comply with the provisions of the Internal Revenue Code of 1986,
      as amended (the Code), applicable to regulated investment companies. It is also the intention of the Fund to distribute an amount sufficient to avoid imposition of any excise tax under Section 4982 of the Code.</div>
    <div>&#160;</div>
    <div>The tax character of distributions paid to shareholders during the fiscal year ended August 31, 2019 are as follows:</div>
    <div>&#160;</div>
    <table id="z2d46cabe247746268b4428fb7b555003" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Ordinary Income</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>312,843</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Distribution in excess</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>5,307,833</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 4px;" valign="bottom">
            <div>Total distributions paid</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>5,620,676</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div>The Fund is subject to the provisions of Accounting Standards Codification 740 Income Taxes (ASC 740). ASC 740 sets forth a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a
      tax return. The Fund did not have a liability to record for any unrecognized tax benefits in the accompanying financial statements. No provision has been made for federal taxes on income, capital gains or unrealized appreciation on securities held
      nor for excise tax on income and capital gains. Each of the Fund&#8217;s federal tax returns for the prior three fiscal years remains subject to examination by the Internal Revenue Service.</div>
    <div>&#160;</div>
    <div>The Fund may also be subject to taxes imposed by governments of countries in which it invests. Such taxes are generally based on either income or gains earned or repatriated. The Fund accrues and applies such taxes to net investment income, net
      realized gains and net unrealized gains as income and/or capital gains are earned. In some cases, the Fund may be entitled to reclaim all or a portion of such taxes, and such reclaim amounts, if any, are reflected as an asset on the Fund&#8217;s books. In
      many cases, however, the Fund may not receive such amounts for an extended period of time, depending on the country of investment.</div>
    <div>&#160;</div>
    <div>At August 31, 2019, the Fund did not defer, on a tax basis, late year losses.</div>
    <div>&#160;</div>
    <div>At August 31, 2019, the Fund did not have any capital loss carryover available to offset future net capital gain.</div>
    <div>&#160;</div>
    <div><font style="font-weight: bold;">Distributions to shareholders</font>&#8212;Distributions to shareholders from net investment income are recorded by the Fund on the ex-dividend date. Distributions from capital gains, if any, are recorded on the
      ex-dividend date and paid at least annually. The amount and character of income and gains to be distributed are determined in accordance with income tax regulations, which may differ from generally accepted accounting principles. These differences
      include temporary and/or permanent differences from losses on wash sale transactions, from nontaxable dividends, from</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">19</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Notes to financial statements (unaudited)</div>
    <div><br>
    </div>
    <div>dividends payable, from amortization and accretion, from contingent payment debt and from deemed distributions. To the extent these differences are permanent in nature, such amounts are reclassified within the capital accounts based on their
      federal tax-basis treatment; temporary differences do not require reclassification.</div>
    <div>&#160;</div>
    <div>Reclassifications are made to the Fund&#8217;s capital accounts to reflect income and gains available for distribution (or available capital loss carryovers) under income tax regulations. At the close of the reporting period, the Fund reclassified
      $5,274,935 to decrease paid-in capital and $5,274,935 to increase total distributable earnings.</div>
    <div>&#160;</div>
    <div>Tax cost of investments includes adjustments to net unrealized appreciation (depreciation) which may not necessarily be final tax cost basis adjustments, but closely approximate the tax basis unrealized gains and losses that may be realized and
      distributed to shareholders. The tax basis components of distributable earnings and the federal tax cost as of the close of the reporting period were as follows:</div>
    <div>&#160;</div>
    <table id="z9179f4d3bad44a3abb745a802406a050" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 4px;" valign="bottom">
            <div>Tax cost of investments</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>53,913,493</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Unrealized appreciation</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>652,978</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Unrealized depreciation</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(1,770,397</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Net unrealized depreciation</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>(1,117,419</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%;" valign="bottom">
            <div>Undistributed ordinary income</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Undistributed long-term gains</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Total distributable earnings</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 2px;" valign="bottom">
            <div>Other accumulated gains/losses and other temporary differences</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 88%; padding-bottom: 4px;" valign="bottom">
            <div>Total accumulated losses</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>(1,117,419</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">
            <div>)</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-weight: bold;">Note 3: Management Fee, Administrative Services and Other Transactions</div>
    <div>U.S. Bancorp Fund Services, LLC doing business as U.S. Bank Global Fund Services (&#8220;Fund Services&#8221;), an indirect wholly-owned subsidiary of U.S. Bancorp, acts as the Fund&#8217;s Administrator under an Administration Agreement. Fund Services prepares
      various federal and state regulatory filings, reports and returns for the Fund; prepares reports and materials to be supplied to the Trustees; monitors the activities of the Fund&#8217;s custodian, transfer agent and accountants; coordinates the
      preparation and payment of the Fund&#8217;s expenses; and reviews the Fund&#8217;s expense accruals. Fund Services also serves as the Fund&#8217;s fund accountant and U.S. Bank, N.A. (&#8220;U.S. Bank&#8221;), an affiliate of Fund Services, serves as the Fund&#8217;s custodian.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">20</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Notes to financial statements (unaudited)</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Note 4: Purchases and Sales of Securities</div>
    <div>During the six months ended February 29, 2020, the cost of purchases and the proceeds from sales, excluding short-term investments, were as follows:</div>
    <div>&#160;</div>
    <table id="z0c08c08fefff4c2e91653fcc317abca8" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;" cellpadding="0" cellspacing="0">

        <tr>
          <td style="vertical-align: top; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="text-align: center; font-weight: bold;">Cost of purchases</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="2" style="vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap" valign="bottom">
            <div style="text-align: center; font-weight: bold;">Proceeds from sales</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%;" valign="bottom">
            <div>Investments in securities (Long-term)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>17,482,011</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;" valign="bottom">
            <div>21,516,006</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 2px;" valign="bottom">
            <div>U.S. government securities (Long-term)</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 2px solid rgb(0, 0, 0);" valign="bottom">
            <div>&#8212;</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 2px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>
        <tr>
          <td style="vertical-align: top; width: 76%; padding-bottom: 4px;" valign="bottom">
            <div>Total</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>17,482,011</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" valign="bottom">&#160;</td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>$</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: 4px double rgb(0, 0, 0);" valign="bottom">
            <div>21,516,006</div>
          </td>
          <td colspan="1" style="vertical-align: bottom; width: 1%; padding-bottom: 4px;" nowrap="nowrap" valign="bottom">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="font-weight: bold;">Note 5: Capital Share Transactions</div>
    <div>Repurchases are made when the Fund&#8217;s shares are trading at less than net asset value and in accordance with procedures approved by the Fund&#8217;s Previous Trustees.</div>
    <div>&#160;</div>
    <div>In September 2017, the Previous Trustees approved the renewal of the repurchase program to allow the Fund to repurchase up to 10% of its outstanding common shares over the 12-month period ended October 9, 2018 (based on shares outstanding as of
      October 9, 2017). For the year ended August 31, 2018, the Fund repurchased 46,645 common shares for an aggregate purchase price of $419,079, which reflects a weighted-average discount from net asset value per share of 7.71%. The weighted-average
      discount reflects the payment of commissions by the Fund to execute repurchase trades.</div>
    <div>&#160;</div>
    <div>The Fund completed an offering to purchase up to 55% of the Fund&#8217;s shares outstanding of the Fund at 99% of the net asset value (&#8220;NAV&#8221;) per common share on March 15, 2019. At the expiration of the offer on March 18, 2019, a total of 7,365,350
      shares or approximately 56.96% of the Fund&#8217;s outstanding common shares were validly tendered. As the total number of shares tendered exceeded the number of shares the Fund offered to purchase and in accordance with the rules of the Securities and
      Exchange Commission allowing the Fund to purchase additional shares not to exceed 2% of the outstanding shares (approximately 258,607 shares) without amending or extending the offer, the Fund elected to purchase all shares tendered at a price of
      $9.25 per share (99% of the NAV of $9.34).</div>
    <div>&#160;</div>
    <div>For the period September 1, 2019 through February 29, 2020 there were no common shares repurchased.</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">Note 6: Market, Credit and Other Risks</div>
    <div>In the normal course of business, the Fund trades financial instruments and enters into financial transactions where risk of potential loss exists due to changes in the market (market risk) or failure of the contracting party to the transaction to
      perform (credit risk). The Fund may be exposed to additional credit risk that an institution or other entity with which the Fund has unsettled or open transactions will default. Investments in foreign securities involve certain risks, including those</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">21</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Notes to financial statements (unaudited)</div>
    <div><br>
    </div>
    <div>related to economic instability, unfavorable political developments, and currency fluctuations. The Fund may invest in higher-yielding, lower-rated bonds that may have a higher rate of default.</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">Note 7: Senior Loan Commitments</div>
    <div>Senior loans are purchased or sold on a when-issued or delayed delivery basis and may be settled a month or more after the trade date, which from time to time can delay the actual investment of available cash balances; interest income is accrued
      based on the terms of the securities. Senior loans can be acquired through an agent, by assignment from another holder of the loan, or as a participation interest in another holder&#8217;s portion of the loan. When the Fund invests in a loan or
      participation, the Fund is subject to the risk that an intermediate participant between the Fund and the borrower will fail to meet its obligations to the Fund, in addition to the risk that the borrower under the loan may default on its obligations.&#160;
      The Fund does not have any senior loan commitments outstanding as of the end of the fiscal year.</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">Note 8: Other Matters</div>
    <div>Shareholders approved a proposal authorizing the Board of Trustees to take steps to cause the Fund to cease to be a registered investment company (RIC) if the Board determines to proceed.&#160; A committee of the Board has been exploring potential
      acquisitions of controlling stakes in operating companies and other investments that are not securities.&#160; Among other factors, the results of that exercise will assist the Board in determining whether the Fund should cease to be a RIC.</div>
    <div>&#160;</div>
    <div>During this transitional period, the Board has determined that the Fund should continue to be internally managed and, within the parameters of its existing investment policies and restrictions, invest in securities that are likely to generate
      greater income (the &#8220;Transitional Investment Strategy&#8221;).&#160; The primary focus of the Transitional Investment Strategy will be to acquire discounted shares of income-oriented closed-end investment companies and business development companies.&#160; Despite
      ratification by shareholders of&#160;that plan in August 2019, our efforts have not borne fruit and the plan may be abandoned if we cannot identify an attractive acquisition opportunity in the near future.&#160; A Transitional Investment Committee of the Board
      comprised of Phillip Goldstein, Andrew Dakos, and Rajeev Das is responsible for implementing the Transitional Investment Strategy.</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">Accordingly, the information presented in this semi-annual report with respect to the actions and results of the Fund are not meaningful in making any conclusions as to the future performance of the Fund whether or not
      it de-registers as an investment company in the future.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">22</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Notes to financial statements (unaudited)</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Note 9: Subsequent Events</div>
    <div><font style="font-style: italic;">Recent Market Events Risk.</font>&#160; U.S. and international markets have experienced significant periods of volatility in recent years due to a number of economic, political and global macro factors including the
      impact of the coronavirus as a global pandemic and related public health issues, growth concerns in the U.S. and overseas, uncertainties regarding interest rates, trade tensions and the threat of tariffs imposed by the U.S. and other countries. These
      developments as well as other events, such as the upcoming U.S. presidential election, could result in further market volatility and negatively affect financial asset prices, the liquidity of certain securities and the normal operations of securities
      exchanges and other markets. As a result, the risk environment remains elevated. The Fund&#8217;s Investment Committee will monitor developments and seek to manage the Fund in a manner consistent with achieving the Fund&#8217;s investment objective, but there
      can be no assurance that it will be successful in doing so.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">23</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">General information (unaudited)</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">The Fund</div>
    <div>High Income Securities Fund (the &#8220;Fund&#8221;) is a diversified, closed-end management investment company whose common shares trade on the New York Stock Exchange (&#8220;NYSE&#8221;).&#160; The Fund&#8217;s NYSE trading symbol is &#8220;PCF.&#8221;</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">Tax information</div>
    <div>The Fund designated 3.61% of its ordinary income distribution for the year ended August 31, 2019, as qualified dividend income under the Jobs and Growth Tax Relief Reconciliation Act of 2003.</div>
    <div>&#160;</div>
    <div>For the year ended August 31, 2019, 2.85% of dividends paid from net ordinary income qualified for the dividends received deduction available to corporate shareholders.</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">Annual meeting of shareholders held on August 21, 2019</div>
    <div>The Fund held an annual meeting of shareholders on August 21, 2019 to vote on the following matters:</div>
    <div>&#160;</div>
    <div>The presence, in person or by proxy, of shareholders entitled to cast a majority of the votes entitled to be cast at the Meeting (i.e., the presence of a majority of the shares outstanding on the record date of July 1, 2019) was necessary to
      constitute a quorum for the transaction of business. At the Meeting, the holders of approximately 85.565% of the outstanding shares as of the record date were represented&#160; in person or by proxy (4,761,710 votes), thus constituting a quorum for the
      matters to be voted upon by all shareholders at the Meeting.</div>
    <div>&#160;</div>
    <div>At the meeting, the vote on the election of the nominees as the Fund&#8217;s Trustees were approved, as follows:</div>
    <div>&#160;</div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z91587321af454afdb01db54b24e89837" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 38.98%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Trustee Nominee</div>
          </td>
          <td style="width: 24.88%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Votes For</div>
          </td>
          <td style="width: 36.14%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Votes Withheld</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.98%; vertical-align: top;">
            <div>Phillip Goldstein</div>
          </td>
          <td style="width: 24.88%; vertical-align: middle;">
            <div style="text-align: center;">3,960,908</div>
          </td>
          <td style="width: 36.14%; vertical-align: middle;">
            <div style="text-align: center;">800,802</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.98%; vertical-align: top;">
            <div>Rajeev Das</div>
          </td>
          <td style="width: 24.88%; vertical-align: middle;">
            <div style="text-align: center;">4,044,312</div>
          </td>
          <td style="width: 36.14%; vertical-align: middle;">
            <div style="text-align: center;">717,398</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.98%; vertical-align: top;">
            <div>Andrew Dakos</div>
          </td>
          <td style="width: 24.88%; vertical-align: middle;">
            <div style="text-align: center;">4,062,397</div>
          </td>
          <td style="width: 36.14%; vertical-align: middle;">
            <div style="text-align: center;">699,313</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.98%; vertical-align: top;">
            <div>Richard Dayan</div>
          </td>
          <td style="width: 24.88%; vertical-align: middle;">
            <div style="text-align: center;">4,577,254</div>
          </td>
          <td style="width: 36.14%; vertical-align: middle;">
            <div style="text-align: center;">184,456</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.98%; vertical-align: top;">
            <div>Gerald Hellerman</div>
          </td>
          <td style="width: 24.88%; vertical-align: middle;">
            <div style="text-align: center;">3,951,774</div>
          </td>
          <td style="width: 36.14%; vertical-align: middle;">
            <div style="text-align: center;">809,936</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.98%; vertical-align: top;">
            <div>Ben H. Harris</div>
          </td>
          <td style="width: 24.88%; vertical-align: middle;">
            <div style="text-align: center;">4,577,254</div>
          </td>
          <td style="width: 36.14%; vertical-align: middle;">
            <div style="text-align: center;">184,456</div>
          </td>
        </tr>
        <tr>
          <td style="width: 38.98%; vertical-align: top;">
            <div>Moritz Sell</div>
          </td>
          <td style="width: 24.88%; vertical-align: middle;">
            <div style="text-align: center;">4,568,303</div>
          </td>
          <td style="width: 36.14%; vertical-align: middle;">
            <div style="text-align: center;">193,407</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">24</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">General information (unaudited)</div>
    <div><br>
    </div>
    <div>At the meeting, the vote to provide a non-binding advisory vote on whether the previously-approved proposal to change the nature of the Fund's business from being an investment company under the Investment Company Act of 1940, as amended (the
      "1940 Act") and to de-register the Fund as an investment company with the U.S. Securities and Exchange Commission (the "SEC") to permit the Fund to operate as a holding company continues to be in the best interests of the Fund was approved, as
      follows:</div>
    <div>&#160;</div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z686eb7f65c5744c89aa58ac2ef8e835d" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 19.73%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Votes For</div>
          </td>
          <td style="width: 26.4%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Votes Against</div>
          </td>
          <td style="width: 25.22%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">% of Quorum</div>
          </td>
          <td style="width: 28.66%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Votes Withheld</div>
          </td>
        </tr>
        <tr>
          <td style="width: 19.73%; vertical-align: top;">
            <div>1,013,650</div>
          </td>
          <td style="width: 26.4%; vertical-align: middle;">
            <div style="text-align: center;">256,097</div>
          </td>
          <td style="width: 25.22%; vertical-align: middle;">
            <div style="text-align: center;">21.29%</div>
          </td>
          <td style="width: 28.66%; vertical-align: middle;">
            <div style="text-align: center;">3,491,963</div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div>At the meeting, the vote to provide a non-binding advisory vote on whether the previously-approved proposal to reorganize the Fund from a Massachusetts business trust into a Delaware corporation continues to be in the best interests of the Fund
      was approved, as follows:</div>
    <div>&#160;</div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zdf177d6e7ef1437d9dc72db141f2ae57" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 19.73%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Votes For</div>
          </td>
          <td style="width: 26.4%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Votes Against</div>
          </td>
          <td style="width: 25.22%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">% of Quorum</div>
          </td>
          <td style="width: 28.66%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Votes Withheld</div>
          </td>
        </tr>
        <tr>
          <td style="width: 19.73%; vertical-align: top;">
            <div>1,072,838</div>
          </td>
          <td style="width: 26.4%; vertical-align: middle;">
            <div style="text-align: center;">223,502</div>
          </td>
          <td style="width: 25.22%; vertical-align: middle;">
            <div style="text-align: center;">22.53%</div>
          </td>
          <td style="width: 28.66%; vertical-align: middle;">
            <div style="text-align: center;">3,465,370</div>
          </td>
        </tr>

    </table>
    <div style="font-weight: bold;"> <br>
    </div>
    <div style="font-weight: bold;">Special meeting of shareholders held on January 22, 2019</div>
    <div>The Fund held a special meeting of shareholders on January 22, 2019 to vote on the following matters:</div>
    <div>&#160;</div>
    <div>The presence, in person or by proxy, of shareholders owning at least thirty percent of the shares entitled to be cast at the Meeting (i.e., the presence of a 30% of the shares outstanding on the record date of November 2, 2018) was necessary to
      constitute a quorum for the transaction of business.&#160; At the Meeting, the holders of approximately 60.966% of the outstanding shares as of the record date were represented in person or by proxy (7,883,238 votes), thus constituting a quorum for the
      matters to be voted upon by all shareholders at the Meeting.</div>
    <div>&#160;</div>
    <div>At the meeting, a proposal to change the nature of the Fund&#8217;s business from being an investment company under the Investment Company Act of 1940, as amended and to deregister the Fund as an investment company with the Securities and Exchange
      Commission to permit the Fund to operate as a holding company was approved, as follows:</div>
    <div>&#160;</div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z729399151baf43d187918a506fb5ee3e" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 20.03%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Votes For</div>
          </td>
          <td style="width: 25.92%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Votes against</div>
          </td>
          <td style="width: 25.64%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">% of Quorum</div>
          </td>
          <td style="width: 28.4%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Votes withheld</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20.03%; vertical-align: top;">
            <div>7,386,876</div>
          </td>
          <td style="width: 25.92%; vertical-align: middle;">
            <div style="text-align: center;">374,496</div>
          </td>
          <td style="width: 25.64%; vertical-align: middle;">
            <div style="text-align: center;">93.70%</div>
          </td>
          <td style="width: 28.4%; vertical-align: middle;">
            <div style="text-align: center;">121,866</div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div>At the meeting, a proposal to approve the reorganization of the Fund from a Massachusetts business trust into a newly established Delaware corporation was approved, as follows:</div>
    <div>&#160;</div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zb3b129fe0e1248b0ae8678fb62688f28" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 20.03%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Votes For</div>
          </td>
          <td style="width: 25.92%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Votes against</div>
          </td>
          <td style="width: 25.64%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">% of Quorum</div>
          </td>
          <td style="width: 28.4%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="text-align: center; font-weight: bold;">Votes withheld</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20.03%; vertical-align: top;">
            <div>7,041,173</div>
          </td>
          <td style="width: 25.92%; vertical-align: middle;">
            <div style="text-align: center;">337,642</div>
          </td>
          <td style="width: 25.64%; vertical-align: middle;">
            <div style="text-align: center;">89.32%</div>
          </td>
          <td style="width: 28.4%; vertical-align: middle;">
            <div style="text-align: center;">504,423</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">25</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">General information (unaudited)</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Quarterly Form N-PORT portfolio schedule</div>
    <div>The Fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (&#8220;SEC&#8221;) for the first and third quarters of each fiscal year on Part F of Form N-PORT.&#160; The Fund&#8217;s filings on Part F of Form N-PORT are
      available on the SEC&#8217;s Web site at http://www.sec.gov and upon request by calling 1-888-898-4107.</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">Proxy voting policies, procedures and record</div>
    <div>You may obtain a description of the Fund&#8217;s (1) proxy voting policies, (2) proxy voting procedures and (3) information regarding how the Fund voted any proxies related to portfolio securities during the most recent 12-month period ended June&#160;30 for
      which an SEC filing has been made, without charge, upon request by contacting the Fund&#8217;s Shareholder Services at 1-888-898-4107, or on the EDGAR Database on the SEC&#8217;s Web site (http://www.sec.gov).</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">26</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Supplemental information (unaudited)</div>
    <div><br>
    </div>
    <div>The following table sets forth the trustees and officers of the Fund, their name, address, age, position with the Fund, term of office and length of service with the Fund, principal occupation or employment during the past five years and other
      directorships held at February 29, 2020.</div>
    <div>&#160;</div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zfa709545fb2c43298e16dfde1f49adb9" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Term of</div>
          </td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Number of</div>
          </td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Office</div>
          </td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Portfolios</div>
          </td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">and</div>
          </td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">in Fund</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div style="font-weight: bold;">Other</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Position(s)</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Length</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div style="font-weight: bold;">Principal Occupation</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Complex</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div style="font-weight: bold;">Directorships</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div style="font-weight: bold;">Name, Address</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Held with</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">of Time</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div style="font-weight: bold;">During the Past</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Overseen</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div style="font-weight: bold;">held by</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">and Age*</div>
          </td>
          <td style="width: 14%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">the Fund</div>
          </td>
          <td style="width: 14%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Served</div>
          </td>
          <td style="width: 23%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Five Years</div>
          </td>
          <td style="width: 14%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">by Trustee**</div>
          </td>
          <td style="width: 15%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Trustee</div>
          </td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">INTERESTED TRUSTEES</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 23%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: middle;">&#160;</td>
          <td rowspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>Andrew Dakos***</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>President</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>1 year;</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Member of Bulldog Investors,</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">
            <div style="text-align: center;">1</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div>Director, Brookfield</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>(53)</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>as of</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>Since</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>LLC since 2009; Principal of</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>DTLA Fund Office</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>July 2018.</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>2018</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>the general partner of several</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Trust Investor, Inc.;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>private investment partnerships</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Director, Emergent</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>in the Bulldog Investors group</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Capital, Inc. (until</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>of private funds.</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>2017); Trustee,</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Crossroads</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Liquidating Trust;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Director, Special</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Opportunities</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Fund, Inc.;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Chairman, Swiss</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Helvetia Fund, Inc.</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 23%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: middle;">&#160;</td>
          <td rowspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>Phillip Goldstein***</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>Secretary</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>1 year;</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Member of Bulldog Investors,</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">
            <div style="text-align: center;">1</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div>Chairman, The</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>(74)</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>as of</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>Since</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>LLC since 2009; Principal of</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Mexico Equity and</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>July 2018.</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>2018</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>the general partner of several</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Income Fund, Inc.;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>private investment partnerships</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Chairman, Special</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>in the Bulldog Investors group</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Opportunities</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>of private funds.</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Fund, Inc.; Director,</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Brookfield DTLA</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Fund Office Trust</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Investor Inc.;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Director, MVC</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Capital, Inc.;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Trustee, Crossroads</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Liquidating Trust;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Director, Swiss</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Helvetia Fund, Inc.;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Chairman,</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Emergent Capital,</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Inc. (until 2017).</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">27</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Supplemental information (unaudited)</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z027e6b1217bf4cfda4bfacc50b57a153" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Term of</div>
          </td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Number of</div>
          </td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Office</div>
          </td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Portfolios</div>
          </td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">and</div>
          </td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">in Fund</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div style="font-weight: bold;">Other</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Position(s)</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Length</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div style="font-weight: bold;">Principal Occupation</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Complex</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div style="font-weight: bold;">Directorships</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div style="font-weight: bold;">Name, Address</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Held with</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">of Time</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div style="font-weight: bold;">During the Past</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Overseen</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div style="font-weight: bold;">held by</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">and Age*</div>
          </td>
          <td style="width: 14%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">the Fund</div>
          </td>
          <td style="width: 14%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Served</div>
          </td>
          <td style="width: 23%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Five Years</div>
          </td>
          <td style="width: 14%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">by Trustee**</div>
          </td>
          <td style="width: 15%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Trustee</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>Rajeev Das***</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>&#8212;</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>1 year;</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Principal of Bulldog</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">
            <div style="text-align: center;">1</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div>Director, The</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>(51)</div>
          </td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>Since</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Investors, LLC</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Mexico Equity &amp;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>2018</div>
          </td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Income Fund, Inc.</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" colspan="6" style="vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="6" style="vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">INDEPENDENT TRUSTEES</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 23%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: middle;">&#160;</td>
          <td rowspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>Gerald Hellerman</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>&#8212;</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>1 year;</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Chief Compliance Officer</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">
            <div style="text-align: center;">1</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div>Director, The</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>(82)</div>
          </td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>Since</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>of The Mexico Equity and</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Mexico Equity and</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>2018</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Income Fund, Inc. and</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Income Fund, Inc.;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>Special Opportunities Fund, Inc.</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Director, Special</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Opportunities</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Fund, Inc.; Director,</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>MVC Capital, Inc.;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Trustee, Crossroad</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Liquidating Trust;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Trustee, Fiera</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Capital Series Trust;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Director, Swiss</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Helvetia Fund, Inc.;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Director, Emergent</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Capital, Inc. (until</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>2017); Director,</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Ironsides Partners</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Opportunity</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Offshore Fund Ltd.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>(until 2016).</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 23%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: middle;">&#160;</td>
          <td rowspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>Moritz Sell</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>&#8212;</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>1 year;</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Founder and Principal of</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">
            <div style="text-align: center;">1</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div>Director, Aberdeen</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>(52)</div>
          </td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>Since</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Edison Holdings GmbH and</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Australia Equity</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>2018</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Senior Advisor to Markston</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Fund; Director,</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>International LLC.</div>
          </td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Swiss Helvetia Fund,</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Inc.; Director,</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Aberdeen Global</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Income Fund, Inc,;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Director, Aberdeen</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Asia-Pacific Income</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Fund, Inc.; Chairman,</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Aberdeen</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Singapore Fund</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>(until 2018);</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Director, Aberdeen</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Greater China Fund</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>(until 2018).</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">28</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Supplemental information (unaudited)</div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z879d0aeccb2647dd8fd071a2f577e128" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Term of</div>
          </td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 13.82%; vertical-align: top;">
            <div style="font-weight: bold;">Number of</div>
          </td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Office</div>
          </td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 13.82%; vertical-align: top;">
            <div style="font-weight: bold;">Portfolios</div>
          </td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">and</div>
          </td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 13.82%; vertical-align: top;">
            <div style="font-weight: bold;">in Fund</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div style="font-weight: bold;">Other</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Position(s)</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Length</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div style="font-weight: bold;">Principal Occupation</div>
          </td>
          <td style="width: 13.82%; vertical-align: top;">
            <div style="font-weight: bold;">Complex</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div style="font-weight: bold;">Directorships</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div style="font-weight: bold;">Name, Address</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">Held with</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div style="font-weight: bold;">of Time</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div style="font-weight: bold;">During the Past</div>
          </td>
          <td style="width: 13.82%; vertical-align: top;">
            <div style="font-weight: bold;">Overseen</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div style="font-weight: bold;">held by</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">and Age*</div>
          </td>
          <td style="width: 14%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">the Fund</div>
          </td>
          <td style="width: 14%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Served</div>
          </td>
          <td style="width: 23%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Five Years</div>
          </td>
          <td style="width: 13.82%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">by Trustee**</div>
          </td>
          <td style="width: 15%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
            <div style="font-weight: bold;">Trustee</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>Richard Dayan</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>&#8212;</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>1 year;</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Owner of CactusTrading.</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">
            <div style="text-align: center;">1</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div>Director, Swiss</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>(76)</div>
          </td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>Since</div>
          </td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Helvetia Fund, Inc.;</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>2018</div>
          </td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Director, Emergent</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Capital Inc.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>(until 2017).</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 23%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td rowspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>Ben Harris</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>&#8212;</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>1 year;</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Chief Executive Officer of HHI,</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">
            <div style="text-align: center;">1</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div>Director, Special</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>(51)</div>
          </td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>Since</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>LLC; Principal of NBC Bancshares,</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Opportunities</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>2018</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>LLC; Chief Executive Officer of</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">
            <div>Fund, Inc.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>Crossroads Capital, Inc.;</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>Administrator of Crossroads</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>Liquidating Trust.</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 23%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 13.82%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td colspan="6" rowspan="1" style="width: 20%; vertical-align: top;">
            <div style="text-align: center; font-weight: bold;">OFFICERS</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 23%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td rowspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>Andrew Dakos***</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>President</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>1 year;</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Member of Bulldog Investors,</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">
            <div style="text-align: center;">n/a</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div>n/a</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>(53)</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>as of</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>Since</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>LLC; Principal of the general</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>July 2018.</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>2018</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>partner of several private</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>investment partnerships in the</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>Bulldog Investors group of funds.</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 23%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td rowspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>Thomas Antonucci***</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>Treasurer</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>1 year;</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Director of Operations of</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">
            <div style="text-align: center;">n/a</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div>n/a</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>(51)</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>as of</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>Since</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Bulldog Investors, LLC.</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>July 2018.</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>2018</div>
          </td>
          <td style="width: 23%; vertical-align: top;">&#160;</td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 23%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td rowspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>Phillip Goldstein***</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>Secretary</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>1 year;</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Member of Bulldog Investors,</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">
            <div style="text-align: center;">n/a</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div>n/a</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>(74)</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>as of</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>Since</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>LLC; Principal of the general</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>July 2018.</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>2018</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>partner of several private</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>investment partnerships in the</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>Bulldog Investors group of funds.</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 20%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 14%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 23%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td rowspan="1" style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>Stephanie Darling***</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>Chief</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>1 year;</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>General Counsel and Chief</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">
            <div style="text-align: center;">n/a</div>
          </td>
          <td style="width: 15%; vertical-align: top;">
            <div>n/a</div>
          </td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">
            <div>(50)</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>Compliance</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>Since</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Compliance Officer of Bulldog</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>Officer</div>
          </td>
          <td style="width: 14%; vertical-align: top;">
            <div>2018</div>
          </td>
          <td style="width: 23%; vertical-align: top;">
            <div>Investors, LLC; Principal, the</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>as of</div>
          </td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>Law Office of Stephanie Darling;</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">
            <div>July 2018.</div>
          </td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>Editor-In-Chief, the Investment</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 20%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 14%; vertical-align: top;">&#160;</td>
          <td style="width: 23%; vertical-align: top;">
            <div>Lawyer.</div>
          </td>
          <td style="width: 13.82%; vertical-align: middle;">&#160;</td>
          <td style="width: 15%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z19539dcc45bd4d4fa4044a8313318342" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 3%; vertical-align: top; text-align: right;">
            <div style="font-family: 'Times New Roman',Times,serif;">*</div>
          </td>
          <td colspan="1" style="width: 1%; vertical-align: top;">&#160;</td>
          <td style="width: 96%; vertical-align: top;">
            <div>The address for all trustees and officers is c/o High Income Securities Fund, 615 East Michigan Street, Milwaukee, WI 53202.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top; text-align: right;">
            <div style="font-family: 'Times New Roman',Times,serif;">**</div>
          </td>
          <td colspan="1" style="width: 1%; vertical-align: top;">&#160;</td>
          <td style="width: 96%; vertical-align: top;">
            <div>The Fund Complex is comprised of only the Fund.</div>
          </td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top; text-align: right;">
            <div style="font-family: 'Times New Roman',Times,serif;">***</div>
          </td>
          <td colspan="1" style="width: 1%; vertical-align: top;">&#160;</td>
          <td style="width: 96%; vertical-align: top;">
            <div>Messrs. Dakos, Goldstein, Das, and Antonucci and Ms. Darling are each considered an &#8220;interested person&#8221; of the Fund within the meaning of the 1940 Act because of their affiliation with Bulldog Investors, LLC and their positions as officers
              of the Fund.</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">29</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-size: 12pt;">High Income Securities Fund</div>
    <div><br>
    </div>
    <div style="font-size: 12pt;"> <br>
    </div>
    <div style="font-size: 12pt;">Privacy policy notice</div>
    <div><br>
    </div>
    <div>The following is a description of the Fund&#8217;s policies regarding disclosure of nonpublic personal information that you provide to the Fund or that the Fund collects from other sources.&#160; In the event that you hold shares of the Fund through a
      broker-dealer or other financial intermediary, the privacy policy of the financial intermediary would govern how your nonpublic personal information would be shared with unaffiliated third parties.</div>
    <div>&#160;</div>
    <div>CATEGORIES OF INFORMATION THE FUND COLLECTS.&#160; The Fund collects the following nonpublic personal information about you:</div>
    <div>&#160;</div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z67a4cbe57be94dac9d7de93fae4fdfc3" border="0" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">
            <div>1</div>
          </td>
          <td style="width: 94.8%; vertical-align: top;">
            <div>Information from the Consumer: this category includes information the Fund receives from you on or in applications or other forms, correspondence, or conversations (such as your name, address, phone number, social security number, assets,
              income and date of birth); and</div>
          </td>
        </tr>
        <tr>
          <td rowspan="1" style="width: 3%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 2%; vertical-align: top;">&#160;</td>
          <td rowspan="1" style="width: 94.8%; vertical-align: top;">&#160;</td>
        </tr>
        <tr>
          <td style="width: 3%; vertical-align: top;">&#160;</td>
          <td style="width: 2%; vertical-align: top;">
            <div>2.</div>
          </td>
          <td style="width: 94.8%; vertical-align: top;">
            <div>Information about the Consumer&#8217;s transactions: this category includes information about your transactions with the Fund, its affiliates, or others (such as your account number and balance, payment history, parties to transactions, cost
              basis information, and other financial information).</div>
          </td>
        </tr>

    </table>
    <div> <br>
    </div>
    <div>CATEGORIES OF INFORMATION THE FUND DISCLOSES.&#160; The Fund does not disclose any nonpublic personal information about their current or former shareholders to unaffiliated third parties, except as required or permitted by law.&#160; The Fund is permitted
      by law to disclose all of the information it collects, as described above, to its service providers (such as the Custodian, administrator and transfer agent) to process your transactions and otherwise provide services to you.</div>
    <div>&#160;</div>
    <div>CONFIDENTIALITY AND SECURITY.&#160; The Fund restricts access to your nonpublic personal information to those persons who require such information to provide products or services to you.&#160; The Fund maintains physical, electronic and procedural
      safeguards that comply with federal standards to guard your nonpublic personal information.</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">This privacy policy notice is not a part of the shareholder report.</div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter" style="width: 100%;">
        <div></div>
        <div>
          <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
      </div>
      <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="color: #000000; font-weight: normal; font-style: normal;">30</font></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="text-align: center;"> <br>
    </div>
    <div style="text-align: center;"> <br>
    </div>
    <div style="text-align: center;"> <br>
    </div>
    <div style="text-align: center;">(This Page Intentionally Left Blank.)</div>
    <div style="text-align: center;"> <br>
    </div>
    <div style="text-align: center;"> <br>
    </div>
    <div>&#160;</div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter"></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="font-weight: bold;">Transfer Agent and Registrar,</div>
    <div style="font-weight: bold;">Fund Administrator and Fund Accountant</div>
    <div>U.S. Bancorp Fund Services, LLC</div>
    <div>615 East Michigan Street</div>
    <div>Milwaukee, WI&#160; 53202</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Custodian</div>
    <div>U.S. Bank, N.A.</div>
    <div>Custody Operations</div>
    <div>1555 North RiverCenter Drive, Suite 302</div>
    <div>Milwaukee, WI&#160; 53212</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Fund Counsel</div>
    <div>Blank Rome LLP</div>
    <div>1271 Avenue of the Americas</div>
    <div>New York, NY&#160; 10020</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Independent Registered Public Accounting Firm</div>
    <div>Tait, Weller &amp; Baker LLP</div>
    <div>Two Liberty Place</div>
    <div>50 South 16th Street, Suite 2900</div>
    <div>Philadelphia, PA&#160; 19102</div>
    <div><br>
    </div>
    <div style="font-weight: bold;">Board of Trustees</div>
    <div>Andrew Dakos</div>
    <div>Phillip Goldstein</div>
    <div>Ben Harris</div>
    <div>Gerald Hellerman</div>
    <div>Rajeev Das</div>
    <div>Moritz Sell</div>
    <div>Richard Dayan</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="font-weight: bold;">High Income Securities Fund</div>
    <div>&#160;</div>
    <div style="font-weight: bold;">1-888-898-4107</div>
    <div><br>
    </div>
    <div id="DSPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div id="DSPFPageBreak" style="page-break-after: always;">
        <hr style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 3px; color: #000000; background-color: #000000;" noshade="noshade"></div>
    </div>
    <div>
      <div style="font-weight: bold;"><u>Item 2. Code of Ethics.</u></div>
      <div><br>
      </div>
      <div>Not applicable for semi-annual reports.</div>
      <div><br>
      </div>
      <div style="font-weight: bold;"><u>Item 3. Audit Committee Financial Expert.</u></div>
      <div><br>
      </div>
      <div>Not applicable for semi-annual reports.</div>
      <div><br>
      </div>
      <div style="font-weight: bold;"><u>Item 4. Principal Accountant Fees and Services.</u></div>
      <div><br>
      </div>
      <div>Not applicable for semi-annual reports.</div>
      <div><br>
      </div>
      <div style="font-weight: bold;"><u>Item 5. Audit Committee of Listed Registrants.</u></div>
      <div><br>
      </div>
      <div>Not applicable for semi-annual reports.</div>
      <div><br>
      </div>
      <div style="font-weight: bold;"><u>Item 6. Investments.</u></div>
      <div><br>
      </div>
      <div>Schedule of Investments is included as part of the report to shareholders filed under Item 1 of this Form.</div>
      <div><br>
      </div>
      <div style="font-weight: bold;"><u>Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.</u></div>
      <div><br>
      </div>
      <div>Not applicable for semi-annual reports.</div>
      <div><br>
      </div>
      <div style="font-weight: bold;"><u>Item 8. Portfolio Managers of Closed-End Management Investment Companies.</u></div>
      <div><br>
      </div>
      <div>Not applicable for semi-annual reports.</div>
      <div><br>
      </div>
      <div style="font-weight: bold;"><u>Item 9. Purchases of Equity Securities by Closed&#8209;End Management Investment Company and Affiliated Purchasers.</u></div>
      <div><br>
      </div>
      <table style="font-family: 'Times New Roman',Times,serif; font-size: 10pt; width: 100%; text-align: left; color: rgb(0, 0, 0);" id="z65c5b5907c3242b5a74672dc4ef8a0c7" border="0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 20%; vertical-align: middle; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="font-style: italic; font-weight: bold; margin-left: 9pt;">Period</div>
            </td>
            <td style="width: 20%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">(a)<br>
              </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">Total Number of </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">Shares (or Units) </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">Purchased</div>
            </td>
            <td style="width: 20%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">(b)<br>
              </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">Average Price Paid </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">per Share (or Unit)</div>
            </td>
            <td style="width: 20%; vertical-align: middle; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">(c)<br>
              </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">Total Number of </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">Shares (or Units) </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">Purchased as Part </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">of Publicly </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">Announced Plans </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">or Programs</div>
            </td>
            <td style="width: 20%; vertical-align: middle; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">(d)<br>
              </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">Maximum Number </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">(or Approximate </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">Dollar Value) of </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">Shares (or Units) </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">that May Yet Be </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">Purchased Under </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">the Plans or </div>
              <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-style: italic; font-weight: bold;">Programs</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">September 1 &#8211; </div>
              <div style="margin-left: 9pt;">September 30, 2019</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">N/A</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">October 1 - </div>
              <div style="margin-left: 9pt;">October 31, 2019</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">N/A</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">November 1- </div>
              <div style="margin-left: 9pt;">November 30, 2019</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">N/A</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">December 1 &#8211; </div>
              <div style="margin-left: 9pt;">December 31, 2019</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">N/A</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">January 1 &#8211; </div>
              <div style="margin-left: 9pt;">January 31, 2020</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">N/A</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">February 1 &#8211; </div>
              <div style="margin-left: 9pt;">February 29, 2020</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-right: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">N/A</div>
            </td>
          </tr>
          <tr>
            <td style="width: 20%; vertical-align: top; border-left: 2px solid rgb(0, 0, 0); border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">Total</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); border-top: 2px solid rgb(0, 0, 0); border-left: 2px solid rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">-</div>
            </td>
            <td style="width: 20%; vertical-align: top; border-width: 2px; border-style: solid; border-color: rgb(0, 0, 0);">
              <div style="margin-left: 9pt;">N/A</div>
            </td>
          </tr>

      </table>
      <div><br>
      </div>
      <div style="font-weight: bold;"><u>Item 10. Submission of Matters to a Vote of Security Holders.</u></div>
      <div><br>
      </div>
      <div>Not Applicable.</div>
      <div><br>
      </div>
      <div style="font-weight: bold;"><u>Item 11. Controls and Procedures.</u></div>
      <div><br>
      </div>
      <div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="ze5b5448b989044998469303310545212" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 18pt; vertical-align: top; align: right;">
                <div>(a)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>The Registrant&#8217;s President and Treasurer have reviewed the Registrant's disclosure controls and procedures (as defined in Rule&#160;30a-3(c) under the Investment Company Act of 1940 (the &#8220;Act&#8221;)) as of a date within 90 days of the filing of
                  this report, as required by Rule&#160;30a-3(b) under the Act and Rules&#160;13a-15(b) or 15d&#8209;15(b) under the Securities Exchange Act of 1934.&#160; Based on their review, such officers have concluded that the disclosure controls and procedures are
                  effective in ensuring that information required to be disclosed in this report is appropriately recorded, processed, summarized and reported and made known to them by others within the Registrant and by the Registrant&#8217;s service provider.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z14341ec2818044baa5836b876a4f6100" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 18pt; vertical-align: top; align: right;">
                <div>(b)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div>There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the second fiscal quarter of the period covered by this report that have materially
                  affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.</div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="font-weight: bold;"><u>Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies</u></div>
      <div><br>
      </div>
      <div>The registrant did not engage in securities lending activities during the fiscal year reported on this Form N-CSR.</div>
      <div><br>
      </div>
      <div style="font-weight: bold;"><u>Item 13. Exhibits.</u></div>
      <div><br>
      </div>
      <div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z8f1fe5e0d91a414ca7afe1cfc44c1121" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 18pt; vertical-align: top; align: right;">
                <div>(a)</div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div><a href="http://www.sec.gov/Archives/edgar/data/810943/000089853118000615/hisf-ex99codeeth.htm">(1) <font style="font-style: italic;">Any code of ethics or amendment thereto, that is the subject of the disclosure required by Item&#160;2,
                      to the extent that the registrant intends to satisfy Item&#160;2 requirements through filing an exhibit. </font> Incorporated by reference to the registrant&#8217;s Form N-CSR filed on November 7, 2018.</a></div>
              </td>
            </tr>

        </table>
      </div>
      <div><br>
      </div>
      <div style="margin-left: 18pt;"><a href="hisf-ex99cert302.htm">(2) <font style="font-style: italic;">A separate certification for each principal executive officer and principal
            financial officer pursuant to Section&#160;302 of the Sarbanes-Oxley Act of 2002.&#160; </font>Filed herewith.</a></div>
      <div><br>
      </div>
      <div style="margin-left: 18pt;">(3) <font style="font-style: italic;">Any written solicitation to purchase securities under Rule 23c&#8209;1 under the Act sent or given during the period covered by the report by or on behalf of the registrant to 10 or
          more persons.&#160; </font>None.</div>
      <div><br>
      </div>
      <div style="margin-left: 18pt; font-style: italic;">(4) Change in the registrant&#8217;s independent public accountant. There was no change in the registrant&#8217;s independent public accountant for the period covered by this report.</div>
      <div><br>
      </div>
      <div>
        <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zb8cc2f794bcb4f85afccaafcbc041e8c" cellpadding="0" cellspacing="0">

            <tr>
              <td style="width: 18pt; vertical-align: top; align: right;">
                <div style="font-style: italic;"><a href="hisf-ex99cert906.htm">(b)</a></div>
              </td>
              <td style="width: auto; vertical-align: top;">
                <div><a href="hisf-ex99cert906.htm"><font style="font-style: italic;">Certifications pursuant to Section&#160;906 of the Sarbanes&#8209;Oxley Act of 2002.</font>&#160; Furnished herewith.</a></div>
              </td>
            </tr>

        </table>
      </div>
      <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
        <div id="DSPFPageFooter"></div>
        <div style="page-break-after:always;" id="DSPFPageBreak">
          <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
        <div id="DSPFPageHeader"></div>
      </div>
      <div style="font-weight: bold;">SIGNATURES</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">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.</div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">(Registrant) &#160; &#160; <u>High Income Securities Fund</u><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 360pt" id="TRGRRTFtoHTMLTab">&#160;</font></div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif; margin-left: 36pt;">By (Signature and Title)* &#160;&#160; <u>/s/</u><u>Andrew Dakos</u></div>
      <div style="font-family: 'Times New Roman',Times,serif; margin-left: 144pt;">Andrew Dakos, President</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">Date&#160;&#160;&#160; <u>May 7, 2020</u> </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">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.</div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif; margin-left: 36pt;">By (Signature and Title)*&#160;&#160;&#160; <u>/s/Andrew Dakos</u></div>
      <div style="font-family: 'Times New Roman',Times,serif; margin-left: 144pt;">Andrew Dakos, President</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">Date&#160;&#160;&#160; <u>May 7, 2020</u> </div>
      <div><br>
      </div>
      <div style="font-family: 'Times New Roman',Times,serif; margin-left: 36pt;">By (Signature and Title)*&#160;&#160;&#160; <u>/s/Thomas Antonucci</u></div>
      <div style="font-family: 'Times New Roman',Times,serif; margin-left: 144pt;">Thomas Antonucci, Treasurer</div>
      <div><br>
      </div>
      <div style="text-indent: 36pt;">Date&#160;&#160;&#160; <u>May 7, 2020</u> </div>
      <div><br>
      </div>
      <div style="font-style: italic;">* Print the name and title of each signing officer under his or her signature.</div>
    </div>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>hisf-ex99cert302.htm
<DESCRIPTION>CERTIFICATION 302
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Dixon MRD & Co.
         Document created using EDGARfilings PROfile 6.5.1.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;" bgcolor="#ffffff">
  <div>
    <div style="text-align: center; font-weight: bold;"><u>CERTIFICATIONS</u></div>
    <div><br>
    </div>
    <div>I, Andrew Dakos, certify that:</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd39fa18028144193a8ace534263a3421" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div>1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>I have reviewed this report on Form N-CSR of High Income Securities Fund;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc37f8c82d6804c4282a72fac0aeaefca" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div>2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>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;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z12e941ba6c6341d3a311fca7caa3d72a" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div>3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>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;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zd50a9606db8b4e15bf6e8af887d7e802" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div>4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>The registrant&#8217;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:</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z537e8b2812c04373b9aa10e5f12aae82" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div style="margin-left: 18pt;">(a)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>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;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z70ae193002504e008a85df2c5625aa52" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div style="margin-left: 18pt;">(b)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>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;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z313c3ba28c29443b8933f70aed998baa" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div style="margin-left: 18pt;">(c)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>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</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z82f8bf92fdbf40a086524f52ada03c0d" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div style="margin-left: 18pt;">(d)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>Disclosed in this report any change in the registrant&#8217;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&#8217;s internal control over financial reporting; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z6a31c66c04ee4428a6589c1abfefebdb" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div>5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>The registrant&#8217;s other certifying officer(s) and I have disclosed to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent functions):</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z79938cb21d2e4d92823eccb00485f376" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 36.7pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div style="margin-left: 18pt;">(a)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>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&#8217;s ability to record, process, summarize, and
                report financial information; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za826a28cf4b448c2898fc4b85de337fb" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 36.7pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div style="margin-left: 18pt;">(b)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#8217;s internal control over financial reporting.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zf913f676d73c44008323d55136d4b88a" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 44.33%; vertical-align: top;">
            <div>Date:&#160;&#160;&#160; <u>May 7, 2020</u> </div>
          </td>
          <td style="width: 0.33%; vertical-align: middle;">&#160;</td>
          <td style="width: 55.34%; vertical-align: bottom;">
            <div><u>/s/Andrew Dakos</u><br>
              Andrew Dakos<br>
              President</div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div id="DSPFPageFooter"></div>
      <div style="page-break-after:always;" id="DSPFPageBreak">
        <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 3px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
      <div id="DSPFPageHeader"></div>
    </div>
    <div style="text-align: center; font-weight: bold;"><u>CERTIFICATIONS</u></div>
    <div><br>
    </div>
    <div>I, Thomas Antonucci, certify that:</div>
    <div><br>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z76321805c5d1487880e42898fcb603a8" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div>1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>I have reviewed this report on Form N-CSR of High Income Securities Fund;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za8bc51c09f4e4714b421bef5a76efb2a" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div>2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>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;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za87da45765db407fac9aadc75ccee38e" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div>3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>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;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zc7462541319c4ff1a5f90332d05c7b35" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div>4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>The registrant&#8217;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:</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z0c520c23f6234a9daf016da944bc2ab5" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div style="margin-left: 18pt;">(a)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>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;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zecd80959981d412f9eb6355201fe2c45" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div style="margin-left: 18pt;">(b)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>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;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="zadd1a402adf74eadabe5a61ccccd961b" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div style="margin-left: 18pt;">(c)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>Evaluated the effectiveness of the registrant&#8217;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</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z71675d46d2044232b2c1e50b028753a0" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 36pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div style="margin-left: 18pt;">(d)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>Disclosed in this report any change in the registrant&#8217;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&#8217;s internal control over financial reporting; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="za17d3fc9327a493587fa48ea13a01f21" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 18pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div>5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>The registrant&#8217;s other certifying officer(s) and I have disclosed to the registrant&#8217;s auditors and the audit committee of the registrant&#8217;s board of directors (or persons performing the equivalent functions):</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z325a54d31928482c81581887b9829f92" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 36.75pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div style="margin-left: 18pt;">(a)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>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&#8217;s ability to record, process, summarize, and
                report financial information; and</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; width: 100%; text-align: left; color: #000000;" class="DSPFListTable" id="z1a11d9f402cf401082075cfffed506b6" cellpadding="0" cellspacing="0">

          <tr>
            <td style="width: 36.75pt; vertical-align: top; align: right;">
              <div>&#160;</div>
              <div style="margin-left: 18pt;">(b)</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div>&#160;</div>
              <div>Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant&#8217;s internal control over financial reporting.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="zd3ad0c0578984c4c9c4a0d75e678c4b4" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 44.33%; vertical-align: top;">
            <div>Date:&#160;&#160;&#160; <u>May 7, 2020</u> </div>
          </td>
          <td style="width: 0.33%; vertical-align: middle;">&#160;</td>
          <td style="width: 55.34%; vertical-align: bottom;">
            <div><u>/s/Thomas Antonucci</u><br>
              Thomas Antonucci<br>
              Treasurer</div>
          </td>
        </tr>

    </table>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
    <br>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.906 CERT
<SEQUENCE>3
<FILENAME>hisf-ex99cert906.htm
<DESCRIPTION>CERTIFICATION 906
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Dixon MRD & Co.
         Document created using EDGARfilings PROfile 6.5.1.0
         Copyright 1995 - 2020 Broadridge -->
  </head>
<body style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;" bgcolor="#ffffff">
  <div>
    <div style="text-align: center; font-weight: bold;"><u>Certification Pursuant to Section 906 of the Sarbanes-Oxley Act</u></div>
    <div><br>
    </div>
    <div style="text-indent: 36pt;">Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned officers of the High Income Securities Fund, does hereby certify, to such officer&#8217;s knowledge, that the report on Form N-CSR of the High
      Income Securities Fund for the six months ended February 29, 2020 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as applicable, and that the information contained in the Form N-CSR fairly
      presents, in all material respects, the financial condition and results of operations of the High Income Securities Fund for the stated period.</div>
    <div><br>
    </div>
    <div><br>
    </div>
    <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" id="z59a10d5261564923ba99a71b29c331f6" cellpadding="0" cellspacing="0">

        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div><u>/s/Andrew Dakos</u>
              <div>Andrew Dakos</div>
              <div>President, High Income Securities Fund</div>
              <div>&#160;</div>
            </div>
          </td>
          <td style="width: 50%; vertical-align: top;"><u>/s/Thomas Antonucci</u>
            <div>Thomas Antonucci</div>
            <div>Treasurer, High Income Securities Fund</div>
          </td>
        </tr>
        <tr>
          <td style="width: 50%; vertical-align: top;">
            <div>Dated:&#160;&#160;&#160; <u>May 7, 2020</u> </div>
          </td>
          <td style="width: 50%; vertical-align: top;">&#160;</td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div>This statement accompanies this report on Form N-CSR pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not be deemed as filed by High Income Securities Fund for purposes of Section 18 of the Securities Exchange Act of 1934.</div>
    <div><br>
    </div>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>phillip_goldstein-signature.jpg
<DESCRIPTION>PHILLIP GOLDSTEIN SIGNATURE
<TEXT>
begin 644 phillip_goldstein-signature.jpg
M_]C_X  02D9)1@ ! @$ > !X  #_X0QM17AI9@  34T *@    @ #0$   ,
M   !"<P   $!  ,    ! GT   $"  ,    !  $   $#  ,    !  4   $&
M  ,    !      $2  ,    !  $   $5  ,    !  $   $:  4    !
MJ@$;  4    !    L@$H  ,    !  (   $Q  (    >    N@$R  (    4
M    V(=I  0    !    [    1@ $D^    G$  23X   "<0061O8F4@4&AO
M=&]S:&]P($-3,B!-86-I;G1O<V@ ,C Q,#HP,SHS,2 Q,SHU,3HS,@   Z !
M  ,    !__\  * "  0    !    ]: #  0    !    +@         & 0,
M P    $ !@   1H !0    $   %F 1L !0    $   %N 2@  P    $  @
M @$ !     $   %V @( !     $   KO         $@    !    2     '_
MV/_@ !!*1DE&  $"  !( $@  /_M  Q!9&]B95]#30 !_^X #D%D;V)E &2
M     ?_; (0 # @(" D(# D)#!$+"@L1%0\,# \5&!,3%1,3&!$,# P,# P1
M# P,# P,# P,# P,# P,# P,# P,# P,# P,# $-"PL-#@T0#@X0% X.#A04
M#@X.#A01# P,# P1$0P,# P,#!$,# P,# P,# P,# P,# P,# P,# P,# P,
M# P,_\  $0@ '@"@ P$B  (1 0,1 ?_=  0 "O_$ 3\   $% 0$! 0$!
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M#9=^=_)7*Y?^,SI-Q^R_5^NWJ>:]F\'T;FTTM):W[1F14<KT*]_J?J^/;O\
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M  (   !( $@      M@"*  !    9     $  P,#     7__  $  0
M         &@( !D!D       (
M.$))30/M       0 '@    !  $ >     $  3A"24T$)@      #@
M       _@   .$))300-       $    >#A"24T$&0      !    !XX0DE-
M _,       D           $ .$))300*       !   X0DE-)Q        H
M 0         !.$))30/T       2 #4    ! "T    &       !.$))30/W
M       <  #_____________________________ ^@  #A"24T$"
M$     $   )    "0      X0DE-!!X       0     .$))300:      -K
M    !@              +@   /4    ; %, :0!G &X 80!T '4 <@!E "T
M4 !H &D ; !L &D <  @ $< ;P!L &0 <P!T &4 :0!N     0
M               !              #U    +@                     !
M                         !     !        ;G5L;     (    &8F]U
M;F1S3V)J8P    $       !28W0Q    !     !4;W @;&]N9P
M3&5F=&QO;F<          $)T;VUL;VYG    +@    !29VAT;&]N9P   /4
M   &<VQI8V5S5FQ,<P    %/8FIC     0      !7-L:6-E    $@    =S
M;&EC94E$;&]N9P         '9W)O=7!)1&QO;F<         !F]R:6=I;F5N
M=6T    ,15-L:6-E3W)I9VEN    #6%U=&]'96YE<F%T960     5'EP965N
M=6T    *15-L:6-E5'EP90    !);6<@    !F)O=6YD<T]B:F,    !
M    4F-T,0    0     5&]P(&QO;F<          $QE9G1L;VYG
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M;&5F=$]U='-E=&QO;F<         #&)O='1O;4]U='-E=&QO;F<
M"W)I9VAT3W5T<V5T;&]N9P      .$))300H       ,     3_P
M.$))3001       ! 0 X0DE-!!0       0    ".$))300,      L+
M 0   *     >   !X   .$    KO !@  ?_8_^  $$I&248  0(  $@ 2
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M!0$! 0$! 0         !  (#! 4&!P@)"@L0  $$ 0,"! (%!P8(!0,,,P$
M A$#!"$2,05!46$3(G&!,@84D:&Q0B,D%5+!8C,T<H+10P<EDE/PX?%C<S46
MHK*#)D235&1%PJ-T-A?25>)E\K.$P]-UX_-&)Y2DA;25Q-3D]*6UQ=7E]59F
M=H:6IK;&UN;V-T=79W>'EZ>WQ]?G]Q$  @(! @0$ P0%!@<'!@4U 0 "$0,A
M,1($05%A<2(3!3*!D12AL4(CP5+1\#,D8N%R@I)#4Q5C<S3Q)086HK*#!R8U
MPM)$DU2C%V1%539T9>+RLX3#TW7C\T:4I(6TE<34Y/2EM<75Y?569G:&EJ:V
MQM;F]B<W1U=G=X>7I[?'_]H # ,!  (1 Q$ /P#U*FFJBIE-+&U55-#*ZV -
M:UK1M8QC&^UK&M3O>RMCGO<&L:"YSG&  -2YQ*:ZZFBE]][VU4U-+[+'D-:U
MK1N>][G>UC6M7(FKJ_UNZLWUV'"^J_3[@[[/:TBW.M9LL9]HJ=]#"J>??1;_
M (:OT,JC[3[,!*=2SK?4,YKK.C5558#)<_J^:2*"QL.?9B8M;J[\NK9O_6+;
ML'%_PM%^34@XWUK</J[C=2RZFNSLJI]M.,P^FU];2[;G/=>YWV' =C^EE7WY
M+_U2N[TOTV1Z55U'ZQ7Y-F0,'*!ZIFVS;A_5[#.VHUL<6LRNM95FS?B^ZO=5
M=]FP;+?U;[/F^EZZGT;HE;.H6#ZP]3JSNL9>W(MZ8'LV#8/T3O1+69.5CXSV
MOLPZ[_U3%_G64_;/UVQ*6Z#DYO4^OTY&3U"YQIQ79'V:H.KQ;1<?1K?32:VN
M^Q4;+/LV3G6?;>HW?K>-5C]/JK]?JLG)HQ<>S)R;&TT4M+[+'F&M:-7.<4+/
MZAT[I>._,S[ZL6D:.ML<&@D EK!/\X_3V5M]ZXCJ/5.KY=SNJ]8 Z+TVHN=T
MRC)_27@5CU#U/]CU,LMS.H5?SFW+LKQ.CU_KGV;+]+UTE/1?MGJ]_7\?"Q**
MOL+F"_(]1M@N;0]CC7??O]#[#=9E?H,?!MIR,B_TLJVS[)Z"GE=3S^IWV=/Z
M"14VN6Y/5WL#Z:W"6NHPZR?UW-8[^<_[28W^&LLO_55SN/F4W=#.7U.R[H/U
M=L>+'WY%A'4>HN@$OR7U?I:*\AE6WT<3]9OQJ_3Q/LW3_3K6GTOH.3G8^/3E
M,=A?5S'E^)T=S0RZUKCOJ9U?T_;Z%'O]/!_G<C]'^U[+LGUZTE/5I)*AG]:Z
M=@.].ZPV9)&YN)0QU][A^\W%QVV7[/\ A=GI?RTE(LOJ^1]L=T_I6*,[*JC[
M4Y]GHT4!S?4K;D7[+[?6M;_-T8^-D/\ H69'H5656(G1^HWYU>3Z];6/Q<BS
M&+ZRYU5GI[=UE+[&5._1O<[&N_T>51D5>_TUS66,C[?>&7W]+_:)+W])Z?;1
M=G7V%K:7Y-KK&.Q^C^C31MMOQ\WT7_\ <O'R=GK]#T6M_3.BL;U"^EK*-Y#F
MEC*JJ0YWH8_J,9CU/^S4[*O6]*K?L24ZBKWYV'CWT8UUS69&42**9][]NMAK
MK'O<VO\ PK_\%_A%GCKEO4AMZ!6,AA<6NZA<'-Q&@$L<^D^RSJ3O;^C;A_JU
MG^$S\=28.E] PKL_.RM[P/UO/O@VV$%SFU?HFC\]^W&PL>O_ (.BE)3JDAH+
MG& -23P LC'^L^%E9]&)C49%M.2YS*<X,#<=Q8Q]SS4ZQ[+[Z-M7],Q\>["W
MV4_K'Z58NSKGUDL.1?A1TZQH^RX&<#5CUP=S<CJ../UKJN9_-6_8=M'2J&?]
MK+LO]86M>S ^KN)D=?ZK:_+RF5M;E9A$NV%S1Z.)C[O3Q<7U"W]!3_.;/4R;
M,K(_3I*=Q5L_J.!TW'.5GY%>+0#!LM<&-D\-EWYW\E<KE_XS.DW'[+]7Z[>I
MYKV;P?1N;32TEK?M&9%1RO0KW^I^KX]N_P#X/U%G]-MZ([*KZK]8NHYW6,S=
MZU-#L+-;A4V >GOP\+[*:]]/NKKO?_QWI_:$E/H!MJ;8VISVBQX)8PD;B!]+
M:W\[:IKF&Y'U6.8_J3^GYF3FO>+6Y5G3<Q]K2T-;6S'N?A[J*F-9[*Z_9_VY
M8K8^M5;X%'2NJ6O(T;]D?5K^[OS?LU3?[=B2G__0Z?ZQ_;,WJ3V]2>.E_5KI
M1KMOR[7 ?:;2&6M94QWYM+G,JKL_[D?S%5F9]EOPK-SNK'I5CNF8EF!@8S-N
M'@TM97EY B*FCU@ZKI..]Q]_J469WI?I?U*_]$N@O^RS5]I].?4'H^I'\Y!V
M>EO_ ,+]+;L14E/%]&^J_6,7I#[7AV+GY1]?.QZ<@F_)M):YM65UJUEV1C8U
M?Z2FNG"_3T5_I/VAD7V6V6AP_J;UVOJ%=S;J, UU,=9D8K QIN^DZBJNO;GY
MF*W^<RK.J]1_7\S[/=D8=M&/]GL[I))3S?4OJ:S+;1=5EN/4:;V7.ZAEUC)L
M(9O<RFJO=C48C&7NJR&UXM=6-ZN.SU\:[](J?UBZ+T?I>..K=4R'V=-QR;NI
MU6#U+L^X;6X-61;NKW457>^GIS6U].]3_ 58_P#-]@N4S\?$_P">.-D?6#);
MZ,L9]7\,ML]'U]NZS(R;7,^Q_M'U-[,*OU?]'Z7ZQZ:2FGT[ZHW]6N'7^HUG
MI&99:W+P\1A]9]-DML??FW937.MNMCTV83/0Q,&K^;H^UOLL719'UCPFY#L/
M :_JF:QQ9;1B;7BIPW3]MR'N9C8?\V[V7W>O_H:;4#K.)[K,KJ>=F'IT@,PL
M"NUL#;#G9%O3F6]3M]^]_P"COQ\;^;]2G_2:'2/V3^SZ?V-Z'[/@^C]EV^E]
M)WJ;/1_1_P [O]3_ (1)31=TWKO4+"[J6=]AQN!A=.<02)'\_P!3M97E.W;?
M^T5/3_3_ -+:@7?4;HMH] >K5@.:!;@U.#*K"/IVY%C6_:K;[O9Z^2_(^TV^
MEZ?K>CZ]=W0I)*>?S?J9TO(<RG&JQ\#I[V6LS\7'QJF.R ]NRK]::UMN/]G]
MS_T/\XJF=_B[Z0^O'JZ2*^F,I/Z5OH,R/5;[?T=OVO>[\S]+_P!R/^U'J;*U
MU:22G!=T3K5V7>,CJUOV(^E]E%88RT;#6_(;D;*F47-R/3V?S?LJL0;/J:P=
M1PL['RW!^(+B]V0WUWNLN]/]9HWO9B8=S/1_P.'Z7Z2S]$ND224\Y;T#ZT93
MJF9/UB?7C, %@Q,:NFZPM+R+/M+K+VUO?OK]791Z/Z'^:K]ZM5?57I5%CLMM
M7VKJ(;%69GN?E.:X!VQS?M%A]%NYWO9B_9ULI)*>+P?JKUNO <SJ.-A9G5?6
MLN_:U>7?C9+G6ES7.&1CX7K8FRC90VNE[\?T:_1]'TUO=!'UEK8^GKHQK W^
M8R,>QSGN;P&Y37X^+6Z_]^^AE55G_<:E:R22E))))*?_V0 X0DE-!"$
M %4    ! 0    \ 00!D &\ 8@!E "  4 !H &\ = !O ', : !O '     3
M $$ 9 !O &( 90 @ %  : !O '0 ;P!S &@ ;P!P "  0P!3 #(    ! #A"
M24T/H       ^&UA;FE)4D92    [#A"24U!;D1S    S    !     !
M    ;G5L;     ,     0493=&QO;F<          $9R26Y6;$QS     4]B
M:F,    !        ;G5L;     $     1G))1&QO;F=(#WVL     $93='-6
M;$QS     4]B:F,    !        ;G5L;     0     1G-)1&QO;F<
M     $%&<FUL;VYG          !&<T9R5FQ,<P    %L;VYG2 ]]K     !,
M0VYT;&]N9P       #A"24U2;VQL    "           .$))30^A       <
M;69R:0    (    0     0         !     #A"24T$!@      !P (
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MXSJ7XIG[5I:?:FV*+<^^-PPHU1/C8F%.M%>)B?Y?'=O?>T]M;+^;7=FV]O\
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M+\^^@*#?W5^%_DL]TP9W9W4>W<Q\<:7I;=>/[SZ<WG6T6;I<%+UMG\[U9L;
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1O?O?O?O?O?O?O?O?O?\ _]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
