<SEC-DOCUMENT>0001580642-18-003530.txt : 20180727
<SEC-HEADER>0001580642-18-003530.hdr.sgml : 20180727
<ACCEPTANCE-DATETIME>20180727130218
ACCESSION NUMBER:		0001580642-18-003530
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20180531
FILED AS OF DATE:		20180727
DATE AS OF CHANGE:		20180727
EFFECTIVENESS DATE:		20180727

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:		18974235

	BUSINESS ADDRESS:	
		STREET 1:		80 ARKAY DRIVE
		CITY:			HAUPPAUGE
		STATE:			NY
		ZIP:			11788
		BUSINESS PHONE:		631-470-2600

	MAIL ADDRESS:	
		STREET 1:		80 ARKAY DRIVE
		CITY:			HAUPPAUGE
		STATE:			NY
		ZIP:			11788
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>msgi_nq.htm
<DESCRIPTION>N-Q
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


<P STYLE="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT STYLE="font-weight: normal">united
states</FONT><BR>
<FONT STYLE="font-weight: normal">securities and exchange commission</FONT><BR>
<FONT STYLE="font-weight: normal">washington, d.c. 20549</FONT><BR>
<BR>
form n-Q<BR>
<BR>
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Investment Company Act file number <U>&#9;811-22572&#9;</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><U>Multi-Strategy Growth &amp; Income Fund&#9;
&#9;</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: 0.5in">(Exact name of registrant as specified
in charter)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in"><U>80 Arkay Drive Suite 110, Hauppauge, NY
11788&#9; </U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">(Address of principal executive offices)&#9;(Zip
code)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>The Corporation Trust Company &#8211; Corporation Trust Center
&#9;</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>1209 Orange Street, Wilmington, Delaware 19801</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(Name and address of agent for service)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Registrant's telephone number, including area code:<U>&#9;631-470-2600
&#9;</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Date of fiscal year end:<U>&#9;2/28&#9;</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Date of reporting period<U>: 05/31/18</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Item 1. Schedule of Investments. </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="8" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>Multi-Strategy Growth &amp; Income Fund</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="8" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>PORTFOLIO OF INVESTMENTS (Unaudited)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="8" STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>May 31, 2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>Shares</B></FONT></TD>
    <TD STYLE="width: 3%; border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 42%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>Security</B></FONT></TD>
    <TD NOWRAP STYLE="width: 1%; border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 25%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>Value</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>COMMON STOCKS - 6.49%</B></FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>ENTERTAINMENT - 0.41 %</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;10,988 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Cedar Fair LP </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$730,482 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>LISTED BUSINESS DEVELOPMENT COMPANIES - 2.05 %</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;25,194 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Ares Capital Corp</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;425,275 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;51,792 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">BlackRock Capital Investment Corp.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;323,182 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;30,782 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">FS Investment Corp.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;237,021 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;33,990 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Garrison Capital, Inc.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;298,432 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;24,505 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Golub Capital BDC, Inc.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;453,588 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;17,971 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">New Mountain Finance Corp.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;249,797 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;27,634 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">PennantPark Floating Rate Capital Ltd.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;376,652 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;27,852 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">TPG Specialty Lending, Inc.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;519,718 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;27,527 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">TriplePoint Venture Growth BDC Corp.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;346,014 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;32,516 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">WhiteHorse Finance, Inc.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;465,629 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;3,695,308 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>PIPELINES - 0.27 %</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;4,585 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Buckeye Partners LP</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;165,289 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;19,618 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Enable Midstream Partners LP</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;324,482 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;489,771 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>PRIVATE EQUITY - 1.16 %</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;30,249 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Hercules Capital, Inc. </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;374,785 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;14,289 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Icahn Enterprises LP</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;982,940 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;32,700 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">The Carlyle Group LP</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;716,130 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;2,073,855 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>SEMICONDUCTORS - 2.60 %</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;47,000 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Applied Materials, Inc.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;2,386,660 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;20,000 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">NXP Semiconductors NV *</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;2,280,000 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;4,666,660 </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL COMMON STOCKS</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;11,656,076 </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>(Cost - $18,187,210)</B></FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>EXCHANGE TRADED NOTES - 2.44 %</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;216,226 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Credit Suisse X-Links Gold Shares Covered Call ETN</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,922,249 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;123,305 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Credit Suisse X-Links Silver Shares Covered Call ETN</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;937,118 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;83,000 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Cushing 30 MLP Index ETN</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,531,765 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL EXCHANGE TRADED NOTES</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;4,391,132 </B></FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>(Cost - $4,506,177)</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>REAL ESTATE INVESTMENT TRUSTS - 41.99 %</B></FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>LISTED REAL ESTATE INVESTMENT TRUSTS - 5.84 %</B></FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;40,800 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">American Campus Communities, Inc.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,636,080 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;269,544 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Colony Northstar Credit Real Estate, Inc.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;5,124,032 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;17,673 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">CoreCivic, Inc.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;380,323 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;9,660 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">CoreSite Realty Corp.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,025,506 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;19,440 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">CyrusOne, Inc.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,076,587 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;45,000 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Granite Point Mortgage Trust, Inc.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;823,050 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;17,450 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">The GEO Group, Inc. </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;432,760 </FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL LISTED REAL ESTATE INVESTMENT TRUSTS</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;10,498,338 </B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="8" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>Multi-Strategy Growth &amp; Income Fund</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="8" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>PORTFOLIO OF INVESTMENTS (Unaudited)(Continued)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="8" STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>May 31, 2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 18%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>Shares</B></FONT></TD>
    <TD STYLE="width: 2%; border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 51%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>Security</B></FONT></TD>
    <TD NOWRAP STYLE="width: 1%; border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 5%; border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 21%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>Value</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>NON-LISTED REAL ESTATE INVESTMENT TRUSTS - 22.04 %</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;444,917 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">American Finance Trust #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$10,182,433 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;228,122 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Carey Watermark Investors, Inc. #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;2,456,408 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;290,378 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Healthcare Trust, Inc. #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;5,746,742 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;198,378 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Hines Global REIT, Inc. #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,771,112 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;456,540 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Hospitality Investor Trust, Inc. # *</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;6,549,948 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,081,081 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">NorthStar Health Care Income, Inc. #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;8,545,672 </FONT></TD></TR>
<TR STYLE="background-color: white">
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;764,346 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">N1 Liquidating Trust #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;557,973 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;388,931 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Steadfast Income REIT, Inc. #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;3,776,242 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL NON-LISTED REAL ESTATE INVESTMENT TRUSTS</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;39,586,530 </B></FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>PRIVATE REAL ESTATE INVESTMENT TRUSTS - 14.11 %</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;7,354 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Clarion Lion Industrial Trust #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;12,666,630 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;661,928 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Cottonwood Residential, Inc. #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;12,675,922 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL PRIVATE REAL ESTATE INVESTMENT TRUSTS</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;25,342,552 </B></FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL REAL ESTATE INVESTMENT TRUSTS</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;75,427,420 </B></FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>(Cost - $68,687,867)</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>NON-LISTED BUSINESS DEVELOPMENT COMPANIES - 8.13 %</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;396,084 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Business Development Corporation of America #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;3,271,657 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,005,598 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Cion Investment Corp. #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;9,412,902 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;248,170 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Sierra Income Corp. #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,915,870 </FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL NON-LISTED BUSINESS DEVELOPMENT COMPANIES</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-top: black 1pt solid; border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;14,600,429 </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>(Cost - $15,945,579)</B></FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font: 10pt Calibri, Helvetica, Sans-Serif"><B>PRIVATE BUSINESS DEVELOPMENT COMPANIES - 1.93 %</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;228,821 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Owl Rock Capital Corp. # <FONT STYLE="font-style: normal"><B>(Cost $3,481,113)</B></FONT></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;3,464,343 </B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-top: black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>PRIVATE INVESTMENT FUNDS - 21.21 %</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">AIF SPV, LLC #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;- </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;13 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">AIM Infrastructure MLP Fund II LP #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;4,106,053 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;9,910 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Clarion Lion Properties Fund #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;14,337,417 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Levine Leichtman Capital Partners VI, LP #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,907,884 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;9,076 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Mosaic Real Estate Credit, LLC #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;10,000,000 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;3 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Ovation Alternative Income Fund #</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;7,750,634 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL PRIVATE INVESTMENT FUNDS</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;38,101,988 </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>(Cost - $36,503,984)</B></FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>CLOSED-END FUNDS - 9.67 %</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;92,641 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Apollo Tactical Income Fund, Inc. </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,468,360 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;125,086 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">BlackRock Debt Strategies Fund, Inc. </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,409,719 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;114,153 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">BlackRock Multi-Sector Income Trust </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,960,007 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;58,623 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Blackstone/GSO Long-Short Credit Income Fund</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;981,935 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;53,000 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Brookfield Real Assets Income Fund, Inc.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,209,460 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;80,314 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Cohen &amp; Steers REIT and Preferred Income Fund, Inc. </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,519,541 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;98,042 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">DoubleLine Income Solutions Fund </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,961,820 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;40,000 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">First Trust Energy Income and Growth Fund</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;910,400 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;163,047 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="3" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Flaherty &amp; Crumrine Dynamic Preferred and Income Fund, Inc. </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;3,738,668 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;71,536 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">John Hancock Premium Dividend Fund</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,127,407 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;78,964 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Western Asset Emerging Markets Debt Fund, Inc.</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,071,542 </FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL CLOSED-END FUNDS</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;17,358,859 </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>(Cost - $17,913,566)</B></FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>HEDGE FUND - 15.34 %</B></FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;25,420 </FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Collins Master Access Fund Ltd. # *</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;27,547,582 </B></FONT></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL HEDGE FUNDS</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>(Cost - $25,677,450)</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP COLSPAN="8" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>Multi-Strategy Growth &amp; Income Fund</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="8" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>PORTFOLIO OF INVESTMENTS (Unaudited)(Continued)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP COLSPAN="8" STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>May 31, 2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>Shares</B></FONT></TD>
    <TD STYLE="width: 2%; border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 20%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>Security</B></FONT></TD>
    <TD NOWRAP STYLE="width: 25%; border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 8%; border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 8%; border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 5%; border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 17%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>Value</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>SHORT-TERM INVESTMENT - 0.48 %</B></FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>MONEY MARKET FUND - 0.48 %</B></FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;854,006 </FONT></TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="5" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Fidelity Investments Money Market Funds - Treasury Portfolio, Class I, 1.56% + </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;$854,006 </B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL SHORT-TERM INVESTMENT</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>(Cost - $854,006)</B></FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>TOTAL INVESTMENTS - 107.68 % </B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>(Cost - $191,756,952)</B></FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;$193,401,835 </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>LIABILITIES IN EXCESS OF OTHER ASSETS&nbsp;&nbsp;- (7.68) %</B></FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;(13,799,626)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>NET ASSETS - 100.00 %</B></FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="border-bottom: black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>&nbsp;$179,602,209 </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP COLSPAN="3" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">LLC - Limited Liability Company</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP COLSPAN="3" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">LP - Limited Partnership</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP COLSPAN="3" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">NV - Naamloze Vennootschap</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP COLSPAN="3" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">REIT - Real Estate Investment Trust</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP COLSPAN="3" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">* Non-income producing security.</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="8" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"># Fair Value estimated using Fair Valuation Procedures adopted by the Board of Trustees. Total value of such securities is $148,643,424 <FONT STYLE="font-weight: normal; font-style: normal">or 82.76% of net assets.</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP COLSPAN="6" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">+ Money market fund; interest rate reflects the seven-day effective yield on May 31, 2018.</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>Portfolio Composition as of May 31, 2018 </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top; width: 15%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; width: 2%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; width: 25%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; width: 16%; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>Percent of Net Assets</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: top; width: 5%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: top; width: 17%; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Real Estate Investment Trusts</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;Non-Listed Real Estate Investment Trusts</FONT></TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">22.04%</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;Private Real Estate Investment Trusts</FONT></TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">14.11%</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;Listed Real Estate Investment Trusts</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">5.84%</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Private Investment Funds</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">21.21%</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Hedge Fund</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">15.34%</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Closed End Funds</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">9.67%</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Non-Listed Business Development Companies</FONT></TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">8.13%</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Semiconductors</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">2.60%</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Exchange Traded Notes</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">2.44%</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Listed Business Development Companies</FONT></TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">2.05%</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Private Business Development Companies</FONT></TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">1.93%</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Private Equity</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">1.16%</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Short-term Investment</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">0.48%</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Entertainment</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">0.41%</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Pipelines</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">0.27%</FONT></TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP COLSPAN="2" STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Liabilities In Excess Of Other Assets</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">(7.68)%</FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>Net Assets</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>100.00%</B></FONT></TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="vertical-align: bottom; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: white">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>Multi-Strategy Growth &amp; Income Fund</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>PORTFOLIO OF INVESTMENTS (Unaudited)(Continued)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>May 31, 2018</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 48%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 9%; background-color: white; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; background-color: white; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; background-color: white; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 1%; background-color: white; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 39%; background-color: white; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt; font-weight: normal"><I>Security Valuation</I> <FONT STYLE="font-style: normal">&#8211; 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 (&#8220;NOCP&#8221;).&nbsp;&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;&nbsp;Short-term investments that mature in 60 days or less may be valued at amortized cost, provided such valuations represent fair value. The Fund follows the specialized accounting and reporting requirements under generally accepted accounting principles in the United States&nbsp;&nbsp;that are applicable to investment companies.</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><I>Valuation of Fund of Funds</I> <FONT STYLE="font-weight: normal; font-style: normal">- The Fund may invest in funds of open-end or closed-end investment companies (the &#8220;Underlying Funds&#8221;).&nbsp;&nbsp;The Underlying Funds value securities in their portfolios for which market quotations are readily available at their market values (generally the last reported sale price) and all other securities and assets at their fair value using the methods established by the board of directors of the Underlying Funds. Open-end funds are valued at their net asset value per share and closed-end fund that trade on an exchange are valued as described under security valuation.</FONT></FONT></TD></TR>
<TR>
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">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 Adviser, those securities will be valued at &#8220;fair value&#8221; as determined in good faith by the Fair Valuation Committee using procedures adopted by and under the supervision of the Fund&#8217;s Board of Trustees (the &#8220;Board&#8221;). There can be no assurance that the Fund could purchase or sell a portfolio security at the price used to calculate the Fund&#8217;s net asset value (&#8220;NAV&#8221;).</FONT></TD></TR>
<TR>
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">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)&nbsp;a portfolio security is not traded in a public market or the principal market in which the security trades is closed, (2)&nbsp;trading in a portfolio security is suspended and not resumed prior to the normal market close, (3)&nbsp;a portfolio security is not traded in significant volume for a substantial period, or (4)&nbsp;the adviser determines that the quotation or price for a portfolio security provided by a broker-dealer or independent pricing service is inaccurate.</FONT></TD></TR>
<TR>
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">The &#8220;fair value&#8221; 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)&nbsp;evaluation of all relevant factors, including but not limited to, pricing history, current market level, supply and demand of the respective security; (2)&nbsp;comparison to the values and current pricing of securities that have comparable characteristics; (3)&nbsp;knowledge of historical market information with respect to the security; (4)&nbsp;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.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt; background-color: white">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt; background-color: white">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt; background-color: white">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt; background-color: white">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt; background-color: white">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">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.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">The Fund invests in some securities which are not traded and the Board&#8217;s Valuation Committee has established a methodology for fair value of each type of security. Non-traded Real Estate Investment Trusts (&#8220;REITs&#8221;) that are in the public offering period (or start-up phase) are valued at cost according to management&#8217;s fair valuation methodology unless the REIT issues an updated valuation. The Fund generally purchases REITs at NAV or without a commission.&nbsp;&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;&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;&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 investment or impairments reported on the potential value of the investment. For non-traded private investments that are themselves treated as investment companies under GAAP, the Fund follows the guidance in GAAP that allows, as a practical expedient, the Fund to value such investments at their reported NAV per share (or if not unitized, at an equivalent percentage of the capital of the investee entity). Such investments typically provide an updated NAV or its equivalent on a quarterly basis. 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.</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top; background-color: white">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif"><B>Multi-Strategy Growth &amp; Income Fund</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>PORTFOLIO OF INVESTMENTS (Unaudited) (Continued)</B></FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD COLSPAN="7" STYLE="border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt"><B>May 31, 2018</B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 27%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 4%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 12%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 12%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 12%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 13%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 20%; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">The non-traded Business Development Companies provide quarterly fair value pricing which is used as an indicator of the valuation for the fund. If the value fluctuates, the adviser 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 Companies are categorized as Level 2 in the fair value hierarchy. </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">The Fund utilizes various methods to measure the fair value of its investments on a recurring basis.&nbsp;&nbsp;GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of input are:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal"><B>Level 1</B> <FONT STYLE="font-weight: normal">&#8211; Unadjusted quoted prices in active markets for identical assets and liabilities that the Fund has the ability to access.</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal"><B>Level 2</B> <FONT STYLE="font-weight: normal">&#8211; Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly.&nbsp;&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.</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt; font-style: normal"><B>Level 3</B> <FONT STYLE="font-weight: normal">&#8211; Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Fund&#8217;s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">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;&nbsp;Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">The inputs used to measure fair value of a security may fall into different levels (Level 1, Level 2 or Level 3) of the fair value hierarchy.&nbsp;&nbsp;In such cases, for disclosure purposes, the level within which the fair value measurement falls, in its entirety, is determined based on the lowest level input that is significant in its entirety to the fair value measurement. </FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.&nbsp;&nbsp;The following tables summarize the inputs used as of May 31, 2018 for the Fund&#8217;s assets and liabilities measured at fair value:</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: justify">&nbsp;</TD></TR>
</TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="width: 35%; padding: 0.75pt 5.4pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Assets*</FONT></TD>
    <TD NOWRAP STYLE="width: 18%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 12%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 11%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 11%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 13%; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Investments:</FONT></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Practical Expedient (1)</FONT></TD>
    <TD NOWRAP STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Level 1</FONT></TD>
    <TD NOWRAP STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Level 2</FONT></TD>
    <TD NOWRAP STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Level 3</FONT></TD>
    <TD NOWRAP STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Total</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Common Stocks</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$11,656,076 </FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$11,656,076 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Exchange Traded Notes</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;4,391,132 </FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;4,391,132 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Real Estate Investment Trusts</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;25,342,552 </FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;10,498,338 </FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;39,586,530 </FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;75,427,420 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Non-Listed Business Development Companies</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;3,271,657 </FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;11,328,772 </FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;14,600,429 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Private Business Development Companies</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;3,464,343 </FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;3,464,343 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Private Investment Funds</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;38,101,988 </FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;38,101,988 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Closed-End Funds</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;17,358,859 </FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;17,358,859 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Hedge Fund</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;27,547,582 </FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;27,547,582 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Short-Term Investment</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;854,006 </FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;854,006 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Total Investments</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$97,728,122 </FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$44,758,411 </FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$50,915,302 </FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD NOWRAP STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$193,401,835 </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD COLSPAN="6" STYLE="font: 12pt Times New Roman, Times, Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">(1)&nbsp;&nbsp;&nbsp;Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the portfolio of investments.</FONT></TD></TR>
</TABLE>




<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR>
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font: 10pt Calibri, Helvetica, Sans-Serif">*Refer to the Portfolio of Investments for industry classifications.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">There were no transfers between Level 1, Level 2 or Level 3 during the period ended May 31, 2018.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">It is the Fund&#8217;s policy to record transfers into or out of any Level at the end of the reporting period.</FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD NOWRAP STYLE="width: 23%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="7" STYLE="font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">The following is the fair value measurement of investments that are measured at Net Asset Value per Share</FONT><BR>
<FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">(or its equivalent) as a practical expedient:</FONT></TD></TR>
<TR>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 22%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: center">
    <FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Security Description </FONT></TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 16%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Industry</FONT></TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 7%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">&nbsp;Value </FONT></TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 9%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Unfunded Commitments</FONT></TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 15%; border-top: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Redemption Frequency</FONT></TD>
    <TD STYLE="width: 1%; border-top: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 26%; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Redemption Notice Period</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">AIF SPV, LLC</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Private Investment Company</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Quarterly</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">180 Days</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">AIM Infrastructure MLP Fund II</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Private Investment Company</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;4,106,053 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,991,250 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Quarterly</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">30-60 Days</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Business Development Corp. of America</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Non-Listed BDC</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;3,271,657 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Quarterly</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Notice prior to announcement of Repurchase Offer</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Clarion Lion Industrial Trust</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">REIT</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;12,666,630 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Quarterly</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">90 Days</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Clarion Lion Properties Fund</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Private Investment Company</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;14,337,417 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Quarterly</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">90 Days</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Collins Masters Access Fund, Ltd.</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Hedge Fund</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;27,547,582 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Subject to advisor approval</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">30-60 Days</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Cottonwood Residential, Inc. </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Private Real Estate Investment Trust</FONT></TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;12,675,922 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Subject to advisor approval </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">90 Days</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Levine Leichtman Capital Partners VI, LP </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Private Investment Company</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;1,907,884 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;7,504,763 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Subject to advisor approval </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">n/a</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Mosaic Real Estate Credit, LLC </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Private Investment Company</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;10,000,000 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Subject to advisor approval </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">2 year lock up, then annual with 90 Days notice</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Owl Rock Capital Corp. </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Private BDC</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;3,464,343 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;9,437,610 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Quarterly</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">90 Days</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Ovation Alternative Income Fund, LP</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Private Investment Company</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;7,750,634 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;-&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">Quarterly</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 11pt">180 Days</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-left: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$97,728,122 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 10pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: right"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$18,933,623 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 0.75pt 5.4pt">&nbsp;</TD></TR>
</TABLE>


<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 55%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Aggregate Unrealized Appreciation and Depreciation - Tax Basis</FONT></TD>
    <TD STYLE="width: 12%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 13%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 20%; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font-size: 10pt; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 21%; border-bottom: Black 1pt solid; font: 12pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Tax Cost</FONT></TD>
    <TD STYLE="width: 3%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 22%; border-bottom: Black 1pt solid; font: 12pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Gross Unrealized Appreciation</FONT></TD>
    <TD STYLE="width: 3%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 20%; border-bottom: Black 1pt solid; font: 12pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Gross Unrealized Depreciation</FONT></TD>
    <TD STYLE="width: 4%; padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="width: 27%; border-bottom: Black 1pt solid; font: 12pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: center"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">Net Unrealized Appreciation</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$190,449,190 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$16,104,521 </FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$(13,151,876)</FONT></TD>
    <TD STYLE="padding: 0.75pt 5.4pt">&nbsp;</TD>
    <TD STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; padding: 0.75pt 5.4pt; text-align: center; vertical-align: bottom"><FONT STYLE="font-family: Calibri, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;$2,952,645 </FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Item 2. Controls and Procedures. </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The registrant&#8217;s
principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant&#8217;s
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the &#8220;1940
Act&#8221;)) 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 Securities Exchange Act of 1934, as amended.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There were no significant
changes in the registrant&#8217;s internal control over financial reporting that occurred during the registrant&#8217;s last fiscal
quarter that have materially affected, or are reasonably likely to materially affect, the registrant&#8217;s internal control over
financial reporting.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><B>Item 3. Exhibits. </B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">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="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Pursuant to the requirements of the Securities Exchange Act of 1934
and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">(Registrant) <U>Multi-Strategy Growth &amp; Income Fund</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">By (Signature and Title)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Raymond J. Lucia &#9;</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Raymond J. Lucia, Jr., President</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Date <U>&#9;07/19/18 &#9;</U>&#9;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">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="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">By (Signature and Title)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Raymond J. Lucia &#9;&#9;</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Raymond J. Lucia, Jr., President</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Date<U>&#9;07/19/18 &#9;&#9;</U>&#9;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">By (Signature and Title)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Felicia Tarantino</U></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Felicia Tarantino, Treasurer</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Date <U>&#9;07/19/18 &#9;&#9;</U></P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>certs.htm
<TEXT>
<HTML>
<HEAD>
<TITLE></TITLE>
</HEAD>
<BODY>


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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">I, Raymond J. Lucia, Jr., certify that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I have reviewed this
report on Form N-Q for the Multi-Strategy Growth &amp; Income Fund;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Date: </FONT><FONT STYLE="font-size: 11pt"><U>&#9;07/19/18
</U></FONT><U> <FONT STYLE="font-size: 10pt">&#9;</FONT></U></P>

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

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Signature</FONT><U>: /s/ Raymond J.
Lucia &#9;</U></P>

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

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

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

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

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

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

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

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

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

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


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">I, Felicia Tarantino, certify that:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I have reviewed this
report on Form N-Q for the Multi-Strategy Growth &amp; Income Fund;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;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="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">Date</FONT><FONT STYLE="font-size: 11pt">:&#9;<U>07/19/18&#9;
</U>&#9;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Signature: <U>/s/ Felicia Tarantino </U></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
