<SEC-DOCUMENT>0000910472-14-003216.txt : 20140730
<SEC-HEADER>0000910472-14-003216.hdr.sgml : 20140730
<ACCEPTANCE-DATETIME>20140730142514
ACCESSION NUMBER:		0000910472-14-003216
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140531
FILED AS OF DATE:		20140730
DATE AS OF CHANGE:		20140730
EFFECTIVENESS DATE:		20140730

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Multi-Strategy Growth & Income Fund
		CENTRAL INDEX KEY:			0001523289
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-22572
		FILM NUMBER:		141002365

	BUSINESS ADDRESS:	
		STREET 1:		450 WIRELESS BLVD.
		CITY:			HAUPPAUGE
		STATE:			NY
		ZIP:			11788
		BUSINESS PHONE:		631-470-2600

	MAIL ADDRESS:	
		STREET 1:		450 WIRELESS BLVD.
		CITY:			HAUPPAUGE
		STATE:			NY
		ZIP:			11788
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>MultiStratGrowth-NQ.htm
<DESCRIPTION>N-Q
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>GemCom, LLC</TITLE>
<META NAME="author" CONTENT="AMenzel">
<META NAME="date" CONTENT="07/30/2014">
</HEAD>
<BODY style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<P style="margin-top:0px; margin-bottom:14.667px; font-size:11pt" align=center>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
WASHINGTON, D.C. &nbsp;20549<BR>
<BR>
<B>FORM N-Q<BR>
<BR>
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED &nbsp;&nbsp;&nbsp;MANAGEMENT INVESTMENT COMPANY</B></P>
<P style="margin-top:0px; margin-bottom:-2px; width:240px; font-size:11pt; float:left">Investment Company Act file number </P>
<P style="margin:0px; text-indent:-2px; font-size:11pt"><U>811-22572</U></P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:480px; font-size:11pt; float:left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Multi-Strategy Growth &amp; Income Fund</U></P>
<P style="margin:0px; text-indent:-2px; font-size:11pt">&nbsp;</P>
<P style="margin:0px; padding-left:96px; text-indent:48px; font-size:11pt; clear:left">(Exact name of registrant as specified in charter)</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:576px; font-size:11pt; float:left"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80 Arkay Drive Suite 110, Hauppauge, NY 11788</U></P>
<P style="margin:0px; text-indent:-2px; font-size:11pt">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:336px; font-size:11pt; clear:left; float:left">(Address of principal executive offices)</P>
<P style="margin:0px; text-indent:-2px; font-size:11pt">(Zip code)</P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin:0px; text-indent:48px; font-size:11pt"><U>James Ash</U></P>
<P style="margin:0px; text-indent:48px; font-size:11pt"><U>&nbsp;Gemini Fund Services, LLC, 80 Arkay Drive Suite 110, Hauppauge, NY 11788</U></P>
<P style="margin:0px; padding-left:96px; text-indent:48px; font-size:11pt">(Name and address of agent for service)</P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:336px; font-size:11pt; float:left">Registrant's telephone number, including area code:</P>
<P style="margin:0px; text-indent:-2px; font-size:11pt"><U>631-470-2619 &nbsp;</U></P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:144px; font-size:11pt; float:left">Date of fiscal year end:</P>
<P style="margin:0px; text-indent:-2px; font-size:11pt"><U>2/28</U></P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin:0px; font-size:11pt">Date of reporting period:<U> &nbsp;5/31/14</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt"><B>Item 1. &nbsp;Schedule of Investments. &nbsp;</B></P>
<P style="margin:0px; text-indent:96px; font-size:11pt">
<P style="margin:0px"><BR>
<BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=112 /><TD width=18.067 /><TD width=196.8 /><TD width=211.2 /><TD width=17.467 /><TD width=17.467 /><TD width=17.467 /><TD width=175.133 /></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=765.6 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt"><B>Multi-Strategy Growth &amp; Income Fund</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=765.6 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>PORTFOLIO OF INVESTMENTS (Unaudited)</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=765.6 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>May 31, 2014</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=112><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>Shares</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=18.067><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>Security</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=211.2><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=175.133><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>Value</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=112><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.067><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=211.2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=175.133><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.067><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>COMMON STOCK - 13.69 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=175.133><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.067><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>AGRICULTURE - 0.40%</B></P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=175.133><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>10,000</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.067><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">Reynolds American, Inc. ^</P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;596,300 </P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.067><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=211.2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.067><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>BANKS - 0.65 %</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=211.2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>10,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">Bank of Hawaii Corp. ^</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=211.2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>557,600</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">Bank of Montreal </P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=211.2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>421,800</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.067><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=211.2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>979,400</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.067><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>CHEMICALS - 0.48 %</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=211.2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>20,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Potash Corp of Saskatchewan, Inc. ^</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>726,400</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>ELECTRIC - 0.38 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>100</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">Entergy Corp. ^</P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>7,542</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>16,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">PPL Corp. ^</P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>561,440</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>568,982</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>FOOD - 0.49 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>12,500</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">Kraft Foods Group, Inc. ^</P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>743,250</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>GAS - 0.35 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>10,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">AGL Resources, Inc. ^</P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>533,800</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>INVESTMENT COMPANIES - 0.25 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>22,620</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">Ares Capital Corp. </P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>389,969</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>OIL &amp; GAS - 0.76 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>27,500</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Crestwood Equity Partners LP ^</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>386,375</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>4,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">CVR Refining LP</P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>107,080</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>10,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Diamond Offshore Drilling, Inc. ^</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>510,600</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>3,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Summit Midstream Partners LP</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>135,030</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>1,139,085</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>PHARMACEUTICALS - 1.36 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>14,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">Eli Lilly &amp; Co. ^</P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>838,040</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>14,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">GlaxoSmithKline PLC - ADR ^</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>755,160</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>8,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">Merck &amp; Co., Inc. ^</P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>462,880</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>2,056,080</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>PIPELINES - 5.42 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>2,500</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Boardwalk Pipeline Partners LP ^</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>43,725</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>8,500</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">Buckeye Partners LP ^</P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>666,910</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>40,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Crestwood Midstream Partners LP ^</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>872,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>20,500</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">El Paso Pipeline Partners LP ^</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>701,920</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>26,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Enbridge Energy Partners LP </P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>806,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>13,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Energy Transfer Partners LP ^</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>732,160</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>7,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">Holly Energy Partners, LP</P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>247,380</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>10,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Kinder Morgan Energy Partners LP ^</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>760,500</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>37,500</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Niska Gas Storage Partners LLC ^</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>534,375</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>2,300</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">NuStar GP Holdings LLC ^</P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>80,500</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Plains All Amer. Pipeline LP</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>338,820</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>5,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Spectra Energy Partners LP</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>262,250</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>15,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">TC Pipelines LP</P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>780,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>10,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">TransMontaigne Partners LP ^</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>496,300</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>16,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">Williams Partners LP </P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>849,760</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>8,172,600</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>SEMICONDUCTORS - 0.40 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>22,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">Intel Corp. ^</P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>601,040</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>SOFTWARE - 0.29 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=112 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>15,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=196.8><P style="margin:0px; font-family:Calibri,Times New Roman">CA, Inc. ^</P>
</TD><TD style="margin-top:0px" valign=top width=211.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>430,350</P>
</TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; page-break-before:always"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=119.333 /><TD width=18.733 /><TD width=293.933 /><TD width=17.467 /><TD width=94.933 /><TD width=17.467 /><TD width=17.467 /><TD width=183.8 /></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=763.133 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt"><B>Multi-Strategy Growth &amp; Income Fund</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=763.133 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>PORTFOLIO OF INVESTMENTS (Unaudited) (Continued)</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=763.133 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>May 31, 2014</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=119.333><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>Shares</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=18.733><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=293.933><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>Security</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=94.933><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=183.8><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>Value</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=119.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=183.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=119.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>TELECOMMUNICATIONS - 0.80 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=183.8><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>20,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; font-family:Calibri,Times New Roman">AT&amp;T, Inc. ^</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;709,400 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>20,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; font-family:Calibri,Times New Roman">Cisco Systems, Inc. ^</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>492,400</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>1,201,800</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>TRANSPORTATION - 1.66 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>23,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; font-family:Calibri,Times New Roman">Golar LNG Partners LP</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>757,850</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>14,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Martin Midstream Partners LP ^</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>568,960</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>15,500</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; font-family:Calibri,Times New Roman">Teekay LNG Partners LP </P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>686,650</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>13,600</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Teekay Offshore Partners LP ^</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>485,112</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>2,498,572</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; font-family:Calibri,Times New Roman"><B>TOTAL COMMON STOCK</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right><B>20,637,628</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; font-family:Calibri,Times New Roman"><B>(Cost - $19,308,647)</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>REAL ESTATE INVESTMENT TRUSTS - 49.27 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>LISTED REAL ESTATE INVESTMENT TRUSTS - 10.02 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>507,400</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.733><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">American Realty Capital Healthcare Trust, Inc. </P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>5,048,620</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>195,254</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">American Realty Capital Properties, Inc. </P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>2,423,104</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>5,500</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Entertainment Properties Trust</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>296,560</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>16,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Hospitality Properties Trust </P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>464,160</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>593,513</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; font-family:Calibri,Times New Roman">New York REIT, Inc.</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6,421,811</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>19,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Senior Housing Properties Trust </P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>455,620</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>TOTAL LISTED REAL ESTATE INVESTMENT TRUSTS</B></P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>15,109,875</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.733><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=406.333 colspan=3><P style="margin:0px; font-family:Calibri,Times New Roman"><B>NON-LISTED REAL ESTATE INVESTMENT TRUSTS - 39.25 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>172,973</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.733><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">American Realty Capital Healthcare Trust II, Inc. #</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>4,000,865</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>707,027</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.733><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=406.333 colspan=3><P style="margin:0px; font-family:Calibri,Times New Roman">American Realty Capital Retail Centers of America, Inc. #</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6,540,000</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>432,432</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.733><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">American Realty Capital Trust Global, Inc. #</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>4,000,000</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>188,108</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.733><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">American Realty Capital Trust V, Inc. #</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>4,593,017</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>228,122</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.733><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Carey Watermark Investors, Inc. #</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
		<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>2,110,130</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>467,829</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.733><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Cottonwood Residential, Inc. #</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>5,698,153</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>738,378</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.733><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">CV Mission Critical REIT, Inc. #</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6,830,000</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>198,378</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.733><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; font-family:Calibri,Times New Roman">Hines Global REIT, Inc #</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>2,008,075</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>764,346</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">NorthStar Real Estate Income Trust, Inc. #</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>8,700,290</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>593,514</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Phillips Edison ARC Shopping Center REIT, Inc. #</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6,006,321</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>388,931</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Steadfast Income REIT, Inc. #</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>4,219,404</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>218,219</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">United Development Funding IV #</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>4,473,488</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=119.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>TOTAL NON-LISTED REAL ESTATE INVESTMENT TRUSTS</B></P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>59,179,743</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=119.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=119.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>TOTAL REAL ESTATE INVESTMENT TRUSTS</B></P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right><B>74,289,618</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=119.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; font-family:Calibri,Times New Roman"><B>(Cost - $66,293,117)</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=119.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=119.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=406.333 colspan=3><P style="margin:0px; font-family:Calibri,Times New Roman"><B>NON-LISTED BUSINESS DEVELOPMENT COMPANIES - 23.46 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
		<TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>1,215,151</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Business Development Corporation of America #</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>12,588,968</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>362,319</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.733><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; font-family:Calibri,Times New Roman">Cion Investment Corp. #</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>3,500,000</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>1,125,880</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Corporate Capital Trust, Inc. #</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>11,768,820</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>661,841</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; font-family:Calibri,Times New Roman">Sierra Income Corp. #</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6,274,918</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>TOTAL BUSINESS DEVELOPMENT COMPANIES</B></P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right><B>34,132,706</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; font-family:Calibri,Times New Roman"><B>(Cost - $33,651,150)</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>PRIVATE INVESTMENT FUNDS - 2.32 %</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>2</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Aim Infrastructure MLP Fund II LP #</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>1,253,559</P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>3,240</P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=18.733><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Clarion Lion Properties Fund #</P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>3,500,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>TOAL PRIVATE INVESTMENT FUNDS</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right><B>4,753,559</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; font-family:Calibri,Times New Roman"><B>(Cost - $5,000,000)</B></P>
</TD><TD style="margin-top:0px" valign=bottom width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=94.933><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>Interest Rate (%)</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>PREFERRED STOCK - 9.99 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; font-family:Calibri,Times New Roman"><B>BANKS - 2.32 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>17,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Cullen/Frost Bankers, Inc. &nbsp;</P>
</TD><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>5.3750</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>400,520</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>28,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Deutsche Bank Contingent Capital Trust V </P>
</TD><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>8.0500</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>800,800</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>25,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">First Republic Bank, Series A</P>
</TD><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6.7000</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>654,500</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>31,000</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=311.4 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">JP Morgan Chase Capital XXIX </P>
</TD><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6.7000</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>809,100</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>32,500</P>
</TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; font-family:Calibri,Times New Roman">SVB Capital II </P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>7.0000</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>837,200</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=119.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=18.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=293.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=94.933><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>3,502,120</P>
</TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; page-break-before:always"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=82.667 /><TD width=17.467 /><TD width=145.333 /><TD width=156 /><TD width=106.667 /><TD width=98.667 /><TD width=17.467 /><TD width=129.333 /></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=753.6 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt"><B>Multi-Strategy Growth &amp; Income Fund</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=753.6 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>PORTFOLIO OF INVESTMENTS (Unaudited) (Continued)</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=753.6 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>May 31, 2014</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=82.667><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>Shares</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=145.333><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>Security</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=156><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=106.667><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>Interest Rate (%)</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=98.667><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=129.333><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>Value</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=82.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=106.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=129.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=82.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=301.333 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>CLOSED-END FUNDS - 0.34 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=106.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=129.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>20,000</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=301.333 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">General American Investors Co., Inc., Series B</P>
</TD><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>5.9500</P>
</TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;515,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=301.333 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>DIVERSIFIED FINANCIAL SERVICES - 1.13 %</B></P>
</TD><TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>34,000</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=301.333 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Morgan Stanley Capital Trust VI </P>
</TD><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6.6000</P>
</TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>863,260 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>17,784</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; font-family:Calibri,Times New Roman">SLM Corp. , Series A</P>
</TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6.9700</P>
</TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>837,982</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>1,701,242</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; font-family:Calibri,Times New Roman"><B>ELECTRIC - 0.73 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>7,335</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; font-family:Calibri,Times New Roman">Duquesne Light Co. </P>
</TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6.5000</P>
</TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>386,775</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>30,000</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; font-family:Calibri,Times New Roman">SCE Trust I &nbsp;&nbsp;&nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>5.6250</P>
</TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>719,100</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>1,105,875</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; font-family:Calibri,Times New Roman"><B>INSURANCE - 0.89 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>21,500</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; font-family:Calibri,Times New Roman">Aegon NV </P>
</TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>7.2500</P>
</TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>537,285</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>29,500</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; font-family:Calibri,Times New Roman">Partnerre, Ltd., Series E</P>
</TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>7.2500</P>
</TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>805,055</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>1,342,340</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; font-family:Calibri,Times New Roman"><B>REITS - 4.58 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>98,073</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=301.333 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">American Realty Capital Properties, Inc., Series F</P>
</TD><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6.7000</P>
</TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>2,348,844</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>33,000</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=301.333 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">CommonWealth REIT, Series E</P>
</TD><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>7.2500</P>
</TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>848,760</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>30,231</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=301.333 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Digital Realty Trust, Inc., Series E</P>
</TD><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>7.0000</P>
</TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>775,123</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>28,500</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=301.333 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Health Care REIT, Inc., Series J</P>
</TD><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6.5000</P>
</TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>738,720</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>25,000</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; font-family:Calibri,Times New Roman">Public Storage, Series O</P>
</TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6.8750</P>
</TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>661,750</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>31,000</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=301.333 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Realty Income Corp., Series E</P>
</TD><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6.7500</P>
</TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>790,190</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>29,000</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=301.333 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Vornado Realty Trust, Series I</P>
</TD><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6.6250</P>
</TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>739,790</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6,903,177</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; font-family:Calibri,Times New Roman"><B>TOTAL PREFERRED STOCK</B></P>
</TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right><B>15,069,754</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; font-family:Calibri,Times New Roman"><B>(Cost - $14,828,386)</B></P>
</TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=106.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=145.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=106.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top colspan=2 align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=506.667 colspan=4><P style="margin:0px; font-family:Calibri,Times New Roman"><B>SHORT-TERM INVESTMENTS - 1.31 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=506.667 colspan=4><P style="margin:0px; font-family:Calibri,Times New Roman"><B>MONEY MARKET FUND - 1.31 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>1,971,817</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=408 colspan=3><P style="margin:0px; font-family:Calibri,Times New Roman">AIM STIT-Government &amp; Agency Portfolio, 0.02% +</P>
</TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right><B>1,971,817</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=82.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=506.667 colspan=4><P style="margin:0px; font-family:Calibri,Times New Roman"><B>TOTAL SHORT-TERM INVESTMENTS </B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=82.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; font-family:Calibri,Times New Roman"><B>(Cost - $1,971,817)</B></P>
</TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=106.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=129.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=82.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=106.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=129.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=82.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=506.667 colspan=4><P style="margin:0px; font-family:Calibri,Times New Roman"><B>TOTAL INVESTMENTS - 100.04 % </B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=129.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=82.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=301.333 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>(Cost - $141,043,117) (a)</B></P>
</TD><TD style="margin-top:0px" valign=top width=106.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right><B>&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150,855,082 </B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=82.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=301.333 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>CALL OPTIONS WRITTEN - (0.41) %</B></P>
</TD><TD style="margin-top:0px" valign=top width=106.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(613,510)</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=82.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=506.667 colspan=4><P style="margin:0px; font-family:Calibri,Times New Roman"><B>OTHER ASSETS LESS LIABILITIES - 0.37 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right><B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;547,352 </B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=82.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=506.667 colspan=4><P style="margin:0px; font-family:Calibri,Times New Roman"><B>NET ASSETS - 100.00 %</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:3px double #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right><B>&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150,788,924 </B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=753.6 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt"><B>&nbsp;</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=753.6 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman"># Fair Value estimated using Fair Valuation Procedures adopted by the Board of Trustees. Total value of such securities is $98,066,008 or 65.04% of net assets.</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=753.6 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman">+ Money market fund; interest rate reflects the seven-day effective yield on May 31, 2014.</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=624.267 colspan=7><P style="margin:0px; font-family:Calibri,Times New Roman">^ Each stock position is subject to written call options.</P>
</TD><TD style="margin-top:0px" valign=top width=129.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=508.133 colspan=5><P style="margin:0px; font-family:Calibri,Times New Roman">ADR - American Depositary Receipt</P>
</TD><TD style="margin-top:0px" valign=bottom width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=129.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=753.6 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman">REIT - Real Estate Investment Trust</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=82.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=145.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=156><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=106.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=98.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=129.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=753.6 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman">(a) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes, including call options written is $140,725,169 and differs from fair value by net unrealized appreciation (depreciation) of securities as follows:</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=82.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top colspan=4 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>Unrealized appreciation: &nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11,053,321 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=82.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top colspan=4 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>Unrealized depreciation: &nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(923,408)</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=82.667><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top colspan=4 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>Net unrealized appreciation: &nbsp;</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10,129,913 </P>
</TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; page-break-before:always"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=115.067 /><TD width=20.733 /><TD width=320.067 /><TD width=17.467 /><TD width=17.467 /><TD width=17.467 /><TD width=22.2 /><TD width=216.2 /></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt"><B>Multi-Strategy Growth &amp; Income Fund</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>PORTFOLIO OF INVESTMENTS (Unaudited) (Continued)</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>May 31, 2014</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=115.067><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>Contracts </B><FONT style="font-size:9pt"><B>(1)</B></FONT></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=20.733><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>Security</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; border-bottom:1px solid #000000" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=22.2><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=216.2><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>Value</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=115.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=20.733><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=22.2><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=216.2><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=115.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=20.733><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px" valign=top width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman"><B>CALL OPTIONS WRITTEN - (0.41) % </B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=22.2><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=216.2><P style="margin:0px; font-family:Calibri,Times New Roman" align=center><B>&nbsp;</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>100</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman">AGL Resources, Inc.</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; background-color:#FFFFFF" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6,500 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration October 2014, Exercise Price $55.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=216.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>200</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman">AT&amp;T, Inc.</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>25,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration October 2014, Exercise Price $35.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>100</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman">Bank of Hawaii Corp.</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>6,500</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration October 2014, Exercise Price $60.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>25</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Boardwalk Pipeline Partners LP</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>12,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration June 2014, Exercise Price $12.50</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>85</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman">Buckeye Partners LP</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=216.2><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>37,400</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration August 2014, Exercise Price $75.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>150</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman">CA, Inc.</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>1,500</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration January 2015, Exercise Price $35.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>200</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman">Cisco Systems, Inc.</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>57,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration October 2014, Exercise Price $22.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>275</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Crestwood Equity Partners LP</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>11,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration October 2014, Exercise Price $15.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>400</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Crestwood Midstream Partners LP</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>26,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration October 2014, Exercise Price $22.5</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>100</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Diamond Offshore Drilling, Inc.</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>26,100</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration September 2014, Exercise Price $51.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=216.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>120</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">El Paso Pipeline Partners, LP</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>1,500</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration June 2014, Exercise Price $42.50</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>140</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman">Eli Lilly &amp; Company</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>48,300</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration January 2015, Exercise Price $60.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>130</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Energy Transfer Partners LP</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=216.2><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>16,250</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration January 2015, Exercise Price $57.50</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>1</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman">Entergy Corporation</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>750</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration September 2015, Exercise Price $67.50</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>140</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman">Glaxosmithkline PLC</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=216.2><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>4,200</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration August 2014, Exercise Price $57.50</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>220</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman">Intel Corporation</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>27,940</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration October 2014, Exercise Price $27.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>100</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Kinder Morgan Energy Partners LP</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>7,700</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration December 2014, Exercise Price $80.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>125</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman">Kraft Foods Group, Inc.</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>31,250</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration September 2014, Exercise Price $57.50</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>130</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Martin Midstream Partners LP</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>650</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration July 2014, Exercise Price $45.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>80</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman">Merck &amp; Co, Inc.</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>52,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration January 2015, Exercise Price $52.50</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>200</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Niska Gas Storage Partners LLC</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>9,200</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration October 2014, Exercise Price $15.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>23</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman">NuStar GP Holdings LLC</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>9,890</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration June 2014, Exercise Price $30.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>200</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Potash Corp of Saskatchewan, Inc.</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>22,400</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration September 2014, Exercise Price $37.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>160</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman">PPL Corp.</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>17,600</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration January 2015, Exercise Price $35.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>100</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman">Reynolds American, Inc.</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>93,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=115.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration August 2014, Exercise Price $50.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=216.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>136</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">Teekay Offshore Partners LP</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>44,880</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration August 2014, Exercise Price $32.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>100</P>
</TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">TransMontaigne Partners LP</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right>17,000</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=115.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;Expiration September 2014, Exercise Price $45.00</P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=top align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=115.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=337.533 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman"><B>TOTAL CALL OPTIONS WRITTEN</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=top align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=right><B>613,510</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=top width=115.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=320.067><P style="margin:0px; font-family:Calibri,Times New Roman"><B>(Proceeds - $473,124)</B></P>
</TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=216.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=115.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=20.733><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=320.067><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=17.467><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=22.2><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=top width=216.2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=top width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt">(1)<FONT style="font-size:10pt"> Each option contract allows the holder of the option to purchase 100 shares of the underlying stock.</FONT></P>
</TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; page-break-before:always"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=81.933 /><TD width=17.467 /><TD width=143.867 /><TD width=154.467 /><TD width=105.667 /><TD width=97.733 /><TD width=17.467 /><TD width=128.067 /></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt"><B>Multi-Strategy Growth &amp; Income Fund</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>PORTFOLIO OF INVESTMENTS (Unaudited) (Continued)</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>May 31, 2014</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=81.933><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=143.867><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=154.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=105.667><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=97.733><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=17.467><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=128.067><P style="margin:0px; font-family:Calibri,Times New Roman"><B>&nbsp;</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman" align=justify>Security Valuation &#150; Securities listed on an exchange are valued at the last reported sale price at the close of the regular trading session of the exchange on the business day the value is being determined, or in the case of securities listed on NASDAQ, at the NASDAQ Official Closing Price (&#147;NOCP&#148;). &nbsp;In the absence of a sale, such securities shall be valued at the mean of the closing bid and asked prices on the day of valuation. &nbsp;Short-term investments that mature in 60 days or less are valued at amortized cost, provided such valuations represent fair value. </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=746.667 colspan=8>&nbsp;</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman" align=justify>When price quotations for certain securities are not readily available, or if the available quotations are not believed to be reflective of market value by the Advisor, those securities will be valued at &#147;fair value&#148; as determined in good faith by the Fair Valuation Committee using procedures adopted by and under the supervision of the Fund&#146;s Board of Trustees (the &#147;Board&#148;). There can be no assurance that the Fund could purchase or sell a portfolio security at the price used to calculate the Fund&#146;s Net Asset Value (&#147;NAV&#148;).</P>
</TD></TR>
	<tr>
		<TD style="margin-top:0px" valign=bottom width=746.667 colspan=8>&nbsp;</TD>
	</tr>
<TR><TD style="margin-top:0px" valign=bottom width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman" align=justify>Fair valuation procedures may be used to value a substantial portion of the assets of the Fund. The Fund may use the fair value of a security to calculate its NAV when, for example, (1) a portfolio security is not traded in a public market or the principal market in which the security trades is closed, (2) trading in a portfolio security is suspended and not resumed prior to the normal market close, (3) a portfolio security is not traded in significant volume for a substantial period, or (4) the Advisor determines that the quotation or price for a portfolio security provided by a broker-dealer or independent pricing service is inaccurate.</P>
</TD></TR>
	<tr>
		<TD style="margin-top:0px" valign=bottom width=746.667 colspan=8>&nbsp;</TD>
	</tr>
<TR><TD style="margin-top:0px" valign=bottom width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman" align=justify>The &#147;fair value&#148; of securities may be difficult to determine and thus judgment plays a greater role in the valuation process. The fair valuation methodology may include or consider the following guidelines, as appropriate: (1) evaluation of all relevant factors, including but not limited to, pricing history, current market level, supply and demand of the respective security; (2) comparison to the values and current pricing of securities that have comparable characteristics; (3) knowledge of historical market information with respect to the security; (4) other factors relevant to the security which would include, but not be limited to, duration, yield, fundamental analytical data, the Treasury yield curve, and credit quality.</P>
</TD></TR>
	<tr>
		<TD style="margin-top:0px" valign=bottom width=746.667 colspan=8>&nbsp;</TD>
	</tr>
<TR><TD style="margin-top:0px" valign=bottom width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman" align=justify>The values assigned to fair valued investments are based on available information and do not necessarily represent amounts that might ultimately be realized, since such amounts depend on future developments inherent in long-term investments. Changes in the fair valuation of portfolio securities may be less frequent and of greater magnitude than changes in the price of portfolio securities valued at their last sale price, by an independent pricing service, or based on market quotations. Imprecision in estimating fair value can also impact the amount of unrealized appreciation or depreciation recorded for a particular portfolio security and differences in the assumptions used could result in a different determination of fair value, and those differences could be material.</P>
</TD></TR>
	<tr>
		<TD style="margin-top:0px" valign=bottom width=746.667 colspan=8>&nbsp;</TD>
	</tr>
<TR><TD style="margin-top:0px" valign=bottom width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman" align=justify>The Fund invests in some securities which are not traded and the Board&#146;s Valuation Committee has established a methodology for fair value of each type of security. Non-traded Real Estate Investment Trusts (&#147;REITs&#148;) that are in the public offering period (or start-up phase) are valued at cost according to management&#146;s fair valuation methodology unless the REIT issues an updated valuation. The Fund generally purchases REITs at NAV or without a commission. &nbsp;However, start-up REITs amortize a significant portion of their start-up costs and therefore potentially carry additional risks that may impact valuation should the REIT be unable to raise sufficient capital and execute their business plan. &nbsp;As such, start-up REITs pose a greater risk than seasoned REITs because if they encounter going concern issues, they may see significant deviation in value from the fair value, cost basis approach as represented. &nbsp;Management is not aware of any information which would cause a change in cost basis valuation methodology currently being utilized for non-traded REITs in their offering period. Non-traded REITs that are in their offering period are generally categorized as Level 3 in the fair value hierarchy. Once a REIT closes to new investors, the Fund values the security based on the movement of an appropriate market index or a similar security that is publicly traded until the REIT issues an updated market valuation. Non-traded REITs that have closed to new investors are generally categorized in Level 2 of the fair value hierarchy, due to the significance of the effect of the application of the movement of the market index on the overall fair valuation of the REIT. Other non-traded private investments are monitored for any independent audits of the security or impairments reported on the potential value of the security. The Valuation Committee meets frequently to discuss the valuation methodology and will adjust the value of a security if there is a public update to such valuation.</P>
</TD></TR>
	<tr>
		<TD style="margin-top:0px" valign=bottom width=746.667 colspan=8>&nbsp;</TD>
	</tr>
<TR><TD style="margin-top:0px" valign=bottom width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman" align=justify>The non-traded Business Development Corporations provide weekly and monthly fair value pricing which is used as an indicator of the valuation for the fund. If the value fluctuates, the Advisor will provide an updated price. If a significant event occurs that causes a large change in price, the Fair Valuation Committee will call a meeting to evaluate the fair value. Non-traded Business Development Corporations are categorized as Level 2 in the fair value hierarchy.</P>
</TD></TR>
	<tr>
		<TD style="margin-top:0px" valign=bottom width=746.667 colspan=8>&nbsp;</TD>
	</tr>
<TR><TD style="margin-top:0px" valign=bottom width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman">The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. &nbsp;GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of input are:</P>
</TD></TR>
	<tr>
		<TD style="margin-top:0px" valign=bottom width=746.667 colspan=8>&nbsp;</TD>
	</tr>
<TR><TD style="margin-top:0px" valign=bottom width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman" align=justify><B>Level 1</B> &#150; Unadjusted quoted prices in active markets for identical assets and liabilities that the Fund has the ability to access.</P>
</TD></TR>
	<tr>
		<TD style="margin-top:0px" valign=bottom width=746.667 colspan=8>&nbsp;</TD>
	</tr>
<TR><TD style="margin-top:0px" valign=bottom width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman" align=justify><B>Level 2</B> &#150; Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. &nbsp;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.</P>
</TD></TR>
	<tr>
		<TD style="margin-top:0px" valign=bottom width=746.667 colspan=8>&nbsp;</TD>
	</tr>
<TR><TD style="margin-top:0px" valign=bottom width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman" align=justify><B>Level 3</B> &#150; Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Fund&#146;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.</P>
</TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; page-break-before:always"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width="747"><TR height=0 style="font-size:0">
	<TD width=747 />
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=747><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt"><B>Multi-Strategy Growth &amp; Income Fund</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=747><P style="margin:0px; font-family:Calibri,Times New Roman"><B>PORTFOLIO OF INVESTMENTS (Unaudited) (Continued)</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=747><P style="margin:0px; font-family:Calibri,Times New Roman"><B>May 31, 2014</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=747><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=747><P style="margin:0px; font-family:Calibri,Times New Roman" align=justify>The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. &nbsp;Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.</P>
</TD></TR>
	<tr>
		<TD style="margin-top:0px" valign=bottom width=747><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	</tr>
<TR><TD style="margin-top:0px" valign=bottom width=747><P style="margin:0px; font-family:Calibri,Times New Roman" align=justify>The inputs used to measure fair value may fall into different levels of the fair value hierarchy. &nbsp;In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety. </P>
</TD></TR>
</TABLE>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width="746">
<TR><TD style="margin-top:0px" valign=bottom width=746 colspan=5>&nbsp;</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=746 colspan=5><P style="margin:0px; font-family:Calibri,Times New Roman" align=justify>The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. &nbsp;The following tables summarize the inputs used as of May 31, 2014 for the Fund&#146;s assets and liabilities measured at fair value:</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=88.8><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom width=137><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom width=147><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom width=298 colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=88.8><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Assets</P>
</TD><TD style="margin-top:0px" valign=bottom width=137><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Level 1</P>
</TD><TD style="margin-top:0px" valign=bottom width=147><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Level 2</P>
</TD><TD style="margin-top:0px" valign=bottom width=166><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Level 3</P>
</TD><TD style="margin-top:0px" valign=bottom width=132><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Total</P>
</TD></TR>
<TR><TD style="margin-top:0px; border:1px solid #000000" valign=bottom width=162><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Common Stocks</P>
</TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20,637,628 </P>
</TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>
	&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;</P>
</TD>
	<TD style="margin-top:0px; border:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20,637,628 </P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=88.8><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Real Estate Investment Trusts</P>
</TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15,109,875 </P>
</TD>
	<TD style="margin-top:0px; border-left:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32,110,725 </P>
</TD>
	<TD style="margin-top:0px; border-left:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27,069,018 </P>
</TD>
	<TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74,289,618 </P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=88.8><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Non-Traded Business Development Corporations</P>
</TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD>
	<TD style="margin-top:0px; border-left:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30,632,706 </P>
</TD>
	<TD style="margin-top:0px; border-left:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,500,000 </P>
</TD>
	<TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;34,132,706 </P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=88.8><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Private Investment Funds</P>
</TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD>
	<TD style="margin-top:0px; border-left:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD>
	<TD style="margin-top:0px; border-left:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,753,559 </P>
</TD>
	<TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,753,559 </P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=88.8><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Preferred Stock</P>
</TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15,069,754 </P>
</TD>
	<TD style="margin-top:0px; border-left:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD>
	<TD style="margin-top:0px; border-left:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD>
	<TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15,069,754 </P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=162><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Short-Term Investment</P>
</TD>
	<TD style="margin-top:0px; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,971,817 </P>
</TD>
	<TD style="margin-top:0px; border-left:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD>
	<TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,971,817 </P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=162><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Total</P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;52,789,074 </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62,743,431 </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;$
	&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;35,322,577 </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;$ &nbsp;&nbsp;150,855,082 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=88.8><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom width=137><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom width=147><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom width=166><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=88.8><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Liabilities</P>
</TD><TD style="margin-top:0px" valign=bottom width=137><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Level 1</P>
</TD><TD style="margin-top:0px" valign=bottom width=147><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Level 2</P>
</TD><TD style="margin-top:0px" valign=bottom width=166><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Level 3</P>
</TD><TD style="margin-top:0px" valign=bottom align="right"><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Total</P>
</TD></TR>
<TR><TD style="margin-top:0px; border:1px solid #000000" valign=bottom width=162><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Written Options</P>
</TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613,510 </P>
</TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;$
	&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;</P>
</TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613,510 </P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom width=162><P style="margin:0px; font-family:Calibri,Times New Roman" align=center>Total</P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613,510 </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;$
	&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;</P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;</P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;613,510 </P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=92><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom width=137><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
</TABLE>
<p style="margin: 0px; padding: 0px">&nbsp;</p>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width="748">
<TR><TD style="margin-top:0px" valign=bottom colspan=6><P style="margin:0px; font-family:Calibri,Times New Roman" align=justify>There were no transfers into or out of Level 1, Level 2 and Level 3 during the period.</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom colspan=6><P style="margin:0px; font-family:Calibri,Times New Roman">It is the Fund&#146;s policy to record transfers into or out of any Level at the end of the reporting period.</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom colspan=6><P style="margin:0px; font-family:Calibri,Times New Roman">The following is a reconciliation of assets in which Level 3 inputs were used in determining value:</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width="306"><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom colspan=2><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px; border:1px solid #000000" valign=bottom width=306 colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman">&nbsp;</P>
</TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2 align="right">
	<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align="center">Real Estate Investment </P>
	<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align="center">Trusts</P>
</TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="center" width="150"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=center>Private </P>
	<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=center>Investment Funds</P>
</TD>
	<TD style="margin-top:0px; border-top:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" align="center" width="123"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=center>Non-Traded </P>
	<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=center>Business </P>
	<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=center>Develpoment </P>
	<P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=center>Companies</P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt">Beginning Balance </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21,455,874 </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right" width="150"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;487,660 </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right" width="123"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-</P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt">Total Realized Gain (loss)</P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right" width="150"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right" width="123"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt">Change in Appreciation (Depreciation)</P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;113,144 </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right" width="150"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(171,601)</P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right" width="123"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt">Cost of Purchases</P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,500,000 </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right" width="150"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,437,500 </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right" width="123"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,500,000 </P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt">Proceeds from Sales and Return of Capital</P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right" width="150"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right" width="123"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt">Accrued Interest</P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right" width="150"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right" width="123"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt">Net transfers in/out of Level 3</P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right" width="150"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right" width="123"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- </P>
</TD></TR>
<TR><TD style="margin-top:0px; border-left:1px solid #000000; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt">Ending Balance</P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom colspan=2 align="right"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27,069,018 </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right" width="150"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4,753,559 </P>
</TD>
	<TD style="margin-top:0px; border-right:1px solid #000000; border-bottom:1px solid #000000" valign=bottom align="right" width="123"><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:9pt" align=right>&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,500,000 </P>
</TD></TR>
</TABLE>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0 width="748">
<TR><TD style="margin-top:0px" valign=bottom width=712 colspan="6"><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	</TR>
<TR><TD style="margin-top:0px" valign=bottom colspan=6><P style="margin:0px; font-family:Calibri,Times New Roman" align=justify>Option Transactions &#150; The Fund is subject to equity price risk in the normal course of pursuing its investment objective and may purchase or sell options to help hedge against risk. &nbsp;When the Fund writes a call option, an amount equal to the premium received is included in the statement of assets and liabilities as a liability. &nbsp;The amount of the liability is subsequently marked-to-market to reflect the current market value of the option. &nbsp;If an option expires on its stipulated expiration date or if the Fund enters into a closing purchase transaction, a gain or loss is realized. &nbsp;If a written call option is exercised, a gain or loss is realized for the sale of the underlying security and the proceeds from the sale are increased by the premium originally received. &nbsp;As writer of an option, the Fund has no control over whether the option will be exercised and, as a result, retains the market risk of an unfavorable change in the price of the security underlying the written option.</P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=89><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom width=16><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom width=171><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom width=162><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom width=136><P style="margin:0px; padding:0px">&nbsp;</P></TD>
	<TD style="margin-top:0px" valign=bottom width=138><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
<P style="margin:0px; page-break-before:always"><BR></P>
<TABLE style="margin-top:0px; font-size:10pt" cellpadding=0 cellspacing=0><TR height=0 style="font-size:0"><TD width=93.333 /><TD width=93.333 /><TD width=93.333 /><TD width=93.333 /><TD width=93.333 /><TD width=93.333 /><TD width=93.333 /><TD width=93.333 /></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman; font-size:12pt"><B>Multi-Strategy Growth &amp; Income Fund</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF" valign=top width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>PORTFOLIO OF INVESTMENTS (Unaudited) (Continued)</B></P>
</TD></TR>
<TR><TD style="margin-top:0px; background-color:#FFFFFF; border-bottom:1px solid #000000" valign=top width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman"><B>May 31, 2014</B></P>
</TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=93.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=93.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=93.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=93.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=93.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=93.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=93.333><P style="margin:0px; padding:0px">&nbsp;</P></TD><TD style="margin-top:0px" valign=bottom width=93.333><P style="margin:0px; padding:0px">&nbsp;</P></TD></TR>
<TR><TD style="margin-top:0px" valign=bottom width=746.667 colspan=8><P style="margin:0px; font-family:Calibri,Times New Roman" align=justify>The Fund may purchase put and call options. &nbsp;Put options are purchased to hedge against a decline in the value of securities held in the Fund&#146;s portfolio. &nbsp;If such a decline occurs, the put options will permit the Fund to sell the securities underlying such options at the exercise price, or to close out the options at a profit. &nbsp;The premium paid for a put or call option plus any transaction costs will reduce the benefit, if any, realized by the Fund upon exercise of the option, and, unless the price of the underlying security rises or declines sufficiently, the option may expire worthless to the Fund. &nbsp;In addition, in the event that the price of the security in connection with which an option was purchased moves in a direction favorable to the Fund, the benefits realized by the Fund as a result of such favorable movement will be reduced by the amount of the premium paid for the option and related transaction costs. &nbsp;Written and purchased options are non-income producing securities. &nbsp;With purchased options, there is minimal counterparty risk to the Fund since these options are exchange traded and the exchange&#146;s clearinghouse, as counterparty to all exchange traded options, guarantees against a possible default.</P>
</TD></TR>
</TABLE>
<P style="margin-top:0px; margin-bottom:12.2px"><BR></P>
<P style="margin-top:0px; margin-bottom:12.2px"><BR>
<BR></P>


</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt"><B>Item 2. Controls and Procedures. </B></P>
<P style="margin:0px"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; font-size:11pt; float:left">(a)</P>
<P style="margin:0px; text-indent:-2px; font-size:11pt">The registrant&#146;s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant&#146;s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the &#147;1940 Act&#148;)) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the &nbsp;Securities Exchange Act of 1934, as amended.</P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; font-size:11pt; float:left">(b)</P>
<P style="margin:0px; text-indent:-2px; font-size:11pt">There were no significant changes in the registrant&#146;s internal control over financial reporting that occurred during the registrant&#146;s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant&#146;s internal control over financial reporting.</P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin:0px; font-size:11pt"><B>Item 3. &nbsp;Exhibits. &nbsp;</B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; text-indent:48px; font-size:11pt">Certifications required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) (and Item 3 of Form N-Q) are filed herewith.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px" align=center><BR></P>
<P style="margin:0px; font-size:11pt" align=center><B>SIGNATURES</B></P>
<P style="margin:0px; font-size:11pt">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt">(Registrant) <U>Multi-Strategy Growth &amp; Income Fund</U></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt">By (Signature and Title)</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt"><U>*/s/ Raymond J. Lucia, Jr.</U></P>
<P style="margin:0px; font-size:11pt">Raymond J. Lucia, Jr., President</P>
<P style="margin:0px; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left">Date</P>
<P style="margin:0px; text-indent:-2px; font-size:11pt"><U>7/30/14</U></P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin:0px; font-size:11pt">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt">By (Signature and Title)</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt"><U>*/s/ Raymond J. Lucia, Jr.</U></P>
<P style="margin:0px; font-size:11pt">Raymond J. Lucia, Jr., President</P>
<P style="margin:0px; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left">Date</P>
<P style="margin:0px; text-indent:-2px; font-size:11pt"><U>7/30/14</U></P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin:0px; font-size:11pt">By (Signature and Title)</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px; font-size:11pt"><U>*/s/Stephanie Pimentel</U></P>
<P style="margin:0px; font-size:11pt">&nbsp;Stephanie Pimentel Holly, Treasurer</P>
<P style="margin:0px; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; font-size:11pt; float:left">Date</P>
<P style="margin:0px; text-indent:-2px; font-size:11pt"><U>7/30/14</U></P>
<P style="margin:0px; clear:left"><BR>
<BR></P>
</BODY>
<!-- EDGAR Validation Code: D9F39AC8 -->
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>cert.htm
<TEXT>
<!doctype html public "-//IETF//DTD HTML//EN">
<HTML>
<HEAD>
<TITLE>GemCom, LLC</TITLE>
<META NAME="author" CONTENT="Arla Menzel">
<META NAME="date" CONTENT="07/30/2014">
</HEAD>
<BODY style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<P style="margin:0px" align=center><B><U>CERTIFICATIONS</U></B></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px">I, Raymond J. Lucia, Jr., certify that:</P>
<P style="margin:0px">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">1.</P>
<P style="margin:0px; text-indent:-2px">I have reviewed this report on Form N-Q for the Multi-Strategy Growth &amp; Income Fund;</P>
<P style="margin:0px; clear:left"><BR></P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">2.</P>
<P style="margin:0px; text-indent:-2px">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</P>
<P style="margin:0px; clear:left">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">3.</P>
<P style="margin:0px; text-indent:-2px">Based on my knowledge, the&nbsp;schedule of investments&nbsp;included in this report fairly present in all material respects the&nbsp;investments of the registrant as of the end of the fiscal quarter for which the report is filed;</P>
<P style="margin:0px; clear:left">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">4.</P>
<P style="margin:0px; text-indent:-2px">The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</P>
<P style="margin:0px; clear:left">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; float:left">a)</P>
<P style="margin:0px; text-indent:-2px">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; clear:left; float:left">b)</P>
<P style="margin:0px; text-indent:-2px">designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; clear:left; float:left">c)</P>
<P style="margin:0px; text-indent:-2px">evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; clear:left; float:left">d)</P>
<P style="margin:0px; text-indent:-2px">disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</P>
<P style="margin:0px; clear:left">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">5.</P>
<P style="margin:0px; text-indent:-2px">The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</P>
<P style="margin:0px; clear:left">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; float:left">a)</P>
<P style="margin:0px; text-indent:-2px">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; clear:left; float:left">b)</P>
<P style="margin:0px; text-indent:-2px">any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</P>
<P style="margin:0px; clear:left">&nbsp;</P>
<P style="margin:0px">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">Date: </P>
<P style="margin:0px; text-indent:-2px"><U>7/30/14</U></P>
<P style="margin:0px; clear:left">Signature<U>: */s/ Raymond J. Lucia, Jr. &nbsp;</U></P>
<P style="margin:0px; text-indent:48px">&nbsp;Raymond J. Lucia, Jr., President</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR></P>
<P style="margin:0px">I, Stephanie Pimentel Holly, certify that:</P>
<P style="margin:0px">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">1.</P>
<P style="margin:0px; text-indent:-2px">I have reviewed this report on Form N-Q for the Multi-Strategy Growth &amp; Income Fund;</P>
<P style="margin:0px; clear:left">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">2.</P>
<P style="margin:0px; text-indent:-2px">Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;</P>
<P style="margin:0px; clear:left">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">3.</P>
<P style="margin:0px; text-indent:-2px">Based on my knowledge, the&nbsp;schedule of investments&nbsp;included in this report fairly present in all material respects the&nbsp;investments of the registrant as of the end of the fiscal quarter for which the report is filed;</P>
<P style="margin:0px; clear:left">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">4.</P>
<P style="margin:0px; text-indent:-2px">The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</P>
<P style="margin:0px; clear:left">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; float:left">a)</P>
<P style="margin:0px; text-indent:-2px">designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; clear:left; float:left">b)</P>
<P style="margin:0px; text-indent:-2px">designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; clear:left; float:left">c)</P>
<P style="margin:0px; text-indent:-2px">evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; clear:left; float:left">d)</P>
<P style="margin:0px; text-indent:-2px">disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and</P>
<P style="margin:0px; clear:left">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:48px; float:left">5.</P>
<P style="margin:0px; text-indent:-2px">The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):</P>
<P style="margin:0px; clear:left">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; float:left">a)</P>
<P style="margin:0px; text-indent:-2px">all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and</P>
<P style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:96px; clear:left; float:left">b)</P>
<P style="margin:0px; text-indent:-2px">any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.</P>
<P style="margin:0px; clear:left">&nbsp;</P>
<P style="margin:0px">&nbsp;</P>
<P style="margin-top:0px; margin-bottom:-2px; width:96px; float:left">Date:</P>
<P style="margin:0px; text-indent:-2px"><U>7/30/14</U></P>
<P style="margin:0px; clear:left">Signature<U>: &nbsp;*/s/ Stephanie Pimentel Holly</U></P>
<P style="margin:0px; text-indent:48px">&nbsp;Stephanie Pimentel, Treasurer</P>
<P style="margin:0px"><BR></P>
<P style="margin:0px"><BR>
<BR></P>
</BODY>
<!-- EDGAR Validation Code: 21F6125B -->
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
