EFTA01194336.pdf

Valuation Report 8/31/2014 EFTA01194336  SUMMARY OF ASSETS - AUGUST 31, 2014 7/31/14 8/31/14 $ Asset Value Value Change Cash 147,030,342 163,437,340 16,406,998 Fixed Income 63,290,970 58,946,877 (4,344,093) Equities 27,739,697 28,132,657 392,960 Equity Options 1,865,000 1,861,000 (4,000) Equity ETF's 2,998,200 2,992,800 (5,400) FX - Options & Derivatives 131,233 549,519 418,286 Currency 390,462 384,391 (6,071) Hedge Funds 118,980,788 105,704,524 (13,276,264) Investments 18,144,898 18,144,898 - Aviation, Automobiles & Boats 15,400,000 15,400,000 - Loans Receivable 747,446 747,446 - Fine Arts, Antiques & Jewelry 7.500,000 7.500.000 0 Total Assets 404,219,036 403,801,452 -417,584 Cash Activity - Items over 50.000 Tudor Redemption 13,501,622 Dividends, Interest Income & Other Distributions 439,623 HSBC SX5E 8/29/2014 80% Barrier 4% Cpn 17% Redemption 2,313,462 SG Market Plus WTI Crude 8/5/2014 78.75% Barr 10% Redemption 2,200,000 Sale of 7,250 shares of JPM l 416,236 Purchase of 24,830 shares of FMI .,_ (577,373) Purchase of Long Put USD vs CNH - Strike 6.16 Exp 8/12/2015 (273,000) Monthly Spending (1,200,000) Stambaugh (727 repairs) (330,000) Miscellaneous (83.573) Total Cash Activity - Items over 50,000 i 16,406,998 EFTA01194337  Deutsche First BNP Paribas Wells Asset Description Bank Bank UBS 8 MJ Escrow Fargo Totals Cash Southern Trust Company 89.921,818 828,457 70,750,075 Southern Financial LLC 48,770,025 48,770,025 Jeepers Inc. 22,880,039 372 22,680,411 Haze Trust 9,864,258 9,864,258 JEE 3,685,440 464,719 1.989,730 6,119,889 Enhanced Education 2.342.562 235,311 2,577,873 FT Real Estate 565,326 565326 JEGE LLC 212,750 21750 LSJE LLC 544,133 544,133 JEE - Paris (US 9) 105,963 105,963 JEGE Inc. 202,554 202,554 Zorro Development Corp 128,108 145,777 273,885 NES LLC 504,140 504,140 Nautius Inc. 92,973 92,973 Hyperion Air LLC 85,680 85,680 Neptune LLC 39,824 39,824 Michelles Transportation Co LLC 18,205 18,205 Plan D LLC 10,400 10,400 Butterfly Trust 8,048 8,048 Thomas World Air LLC 7,715 7,715 Maple Inc. 185 165 Cypress Inc. 1,536 1.536 Laurel Inc. 1,304 1,304 The JEE Life Ins Trust #3 206 206 Total Cash 158,435,653 2,760,216 1,989,730 105,963 145,777 163,437,340 EFTA01194338  Purchase Quantity 7/31/14 0131114 Unrealized Asset Description Date Cost Value Value Gain (Lou) Iliiiinrrliafricome Bank of America 8.125% Pfd 12/29/2049 05/10/11 3,000,000 3.389,821 3,372,278 3,401,771 1__. 2 160 .IT. t in75fferefig-INErsilb7 04 05/10111 3,000,000 3.337.958 3,363,000 3,997,75 - 9,71-12- Peabody Energy Corp S_r Notes 7.375% 11/112016 06/10111 1,200,000 1 267,784 <306,125 1,327 000 59,216 ipayment Inc 10.25% 5/151/Or 10/02/12 500.000 456.682 438 319 441:oso -11.092 JPM Tr Fit Rate Income Fund 01/22/13 211.778.717 2,136,733 2,119,293 2,128.378 4,357 GS MortgageTn2005- 11 5.7698% 5/10/13 1,500,000.00 1,90,854 1,176.451 1,174,234 3,379 Citibank Pretend Ser K 6.875% 2./3/14 79,000.00 L _JJ92.O2no 132.001 TotalHaze Trust . Fixed Income 13,761.052 13,896,196 14,008,141 247,089 Southern Trust Co. - fi xedIncome My Financial 8.5% Pfd Ser A 8/11/13 67,000 1,429,418 1346.410 1.554,390 124,975 Nationwide Sc i.875% GBP callable 6/20/2019 4/15/14 2,000,000 3,39,193 3 536 507 3 419.235 -19,958 PetroTes De 1.ki ziTeliTSgTOW/15 9/17/13 2,000.000 in tango 2.1.7so Total Southern Trust Co. - Fixed Income 6,740,70n5,972 6,067,514 128,810 Jeepers . RadIncome JPM Trust FLT RTrn ncor un 02/13/13 158,644.861 1,597.676 1,587,576 1,594,381 -3,296 Totalkepers - FixedIncome 1,597,676 1,587,575 1,504,381 -,296 Southern Financial LLC - FixedIncome Bank of America 8.125% Pfd Dec 29 2049 1/10/11 2,ODD 000 2,055,000 2,248,186 2,267,847 212 847 Barclays Bank PLC 7.75% 4/10/2023 4/3/13 -300.000 300,000 341,294 342,856 Earthlink Inc 8.875% May 15 2019 10/22/12 400.000” 410,756 416,494 419,453 8,696 Earthlink Inc 8.875% May 15 2019 10/23/12 ebo 000 814 993 824.742 829,179 1487 General Electric Cap Corp 7.125% Dec 15 2049 6/27/12 2,000000 2,110605 2358.208 2,387,583 276 978 irdraters t Inc 7.625% 4/1/2019 10/22/12 1.036:600 1.022304 1,615.417 1,086,771 64,468 USK SX5E 8/29/2014 80% Barrier 4% Cpn 17% Cap Initial 27( 5/24/13 2,0012000 2000,000 2,222600 - 0 JPM Cent Buff SX7P 10/16/2014 85% Cent Banter 2696-Cap Inn 9/24/13 10=00 1,000,000 1,035.01 1050,400 ‘0,400 JP Morgan Chase IS Co Pt 7.9% April 30 2049 6/15/11 2.500.000 2,1:L87,500 2,802500 2 831,458 143_,958 JP Morgan ChWo Pk 7.9% Aptii-30 2049 e/13/11 2500.000 2373,000 2.802600 2.831.458 156,458 LBG Capital 12/29/49 5/21/13 3.000,000 3.247,500 3,343,512 3,333.548 86 048 Lloyds Bank 9.875% 12/16/2021 5/10/12 1.500.000 1.619,167. 1.852.792 1.859.510 240,344 Petroles De Venezuela 6% 10/28/2015 9/16/13 2.500,_000 2.329.395 2 376 819 2 367 361 37,968 Servicemaster Company 8% Feb 15 2020 1/24/13 440.000 460.200 481.531 473,464 13,265 Servicemaster Company 8% Feb 15 2020 2/25/13 1,000.000 1.051.019 1 094 389 1 076.056 25.037 SG Market Pius VVTI Crude 8/5/2014 78.75% Barr 10% Initial It 7/25/13 2.000,000 2.000,000 2 182 400 0 Southern Cal Edison 6.25% Dec 31 2049 1/30/12 3 000 000 2 994 062 3,346,750 3,278,125 284,063 Ally Financial Pfd Ser A Callable 2/3/12 46.600 903,218 1,264,258 1,270782 367,565 My Financial Pfd Ser A Callable 219/12 80,000 1ssi os5tib 2,170,400 2,18<600 611:600 GMAC Cap TR I GTD Pfd Sec Ser 2 8 2/22/12 80.000 1 882 774 2,174,400 2,1519 269 a Royal Bank 5c404Rdiroup PTC/.25% Ser T 10/24/12 40,000 1.6 1.006,800 1,027.fl Royal Bank Scotland Group PLC 7.25% Ser T 1/7/13 40 000 995 200 1.006 800 1 027 200 32 000 Royal Bank Scotland Group PLC 7.2314-Ur rr fr, 4 7 .600 in 49.600 • Total SouthernFitiWanrc Fixed ?mom. 35,697,692 39,239,4$-1 34,921,048 3,023,153 Southern Financial at- FixedIncome (asset bricked securities) reCtMeSt_ Countrywide Home Loans 20334 d 815.75%3/25/03 4/16/13 1,045 178 974,083 925,051 902,723 -71,360 1A/ashington Mutual mg 2004-RA2 d Cat var 7/25/2033 11/19/13 745.322 570 31Q 604,00,3 MLA . i7 82164 Total Southern FinancialLLC - FixedIncome (asset backed 1,544,393 1,670,734 1 555 797 11,404 TOTAL FIXED INCOME 83,290,970 58,946 877 Note Accrued interest has been included in month end fixed income values EFTA01194339  Purchase Quantity 7131/14 8/31/14 Unrealized Asset Description Date Cost Value Value Gain Southern Financial LLC - E. unties ,W pie Inc 10/28/13 14,000 1,058,120 1 338 400 1,435 000 376,880 Apollo Global Management 3/31/11 283.157 4,999,983 6,910,503 6.421031- 21,N1) Mad Pharmaceuticals Inc 2/14/12 7 5351 114,597 43,402 46868 47,729 Mad Pharmaceuticals Inc 1/24/13 11‘..too 176400 51,840 woo -120,420 Ascena Retail GroiWIromierly Dress Barn 1.3.11) 1/16101 70.500 1800,000 1032,230 1225,995 474_,_005 Bank o New York Mellon 6/25/44 2.50.000 9076A06 9.780,„006 9,795,00D fl-S94 BBoqggeenn Idec Inc 2/14/12 2,095 250465 , 700647 718,669 468,214 a klric 17/12 17,500 655.000 1,271,375 1,309.350 844.35U Foundation Medicine Inc 1116114 49,830 687864, 563000 1-.159,544 471,881 General Motors Co 12/9/1( 97.525 3,585,947 3,298,296 3.393,870 -192,077 General Electric Co 4/23/13 23 000 496,109 578,450 597,540 101431 Gilead Sciences Inc 2/5/1T 5:000 396.407 457,750 537.800 141.393 Gilead Sciences Inc 3/7/14 3,100 246,797 283,805 333,436 86639, JP Morgan chase a Co. (sold 7260 on 6/21 at 0.01S 3,160,383 Iota) 7/14/05 4.353 2,126.373 669,145 258.768 -1,067,587 Mobbeye NV Amstelveen Ord Shares 8/1/14 800 20,000 35,544 15,544 tangarno Biosciencrnsnc 928/13 50.000 422,214 594,000 715,000 292,786 Santander Consumer USA 1/28/14 1,000 24,000 19 170 18,620 -6,380 Twitter Inc 11/7/13 1500 39.004 __ 1/2§1....--A.525 10.525 Total Southern Financial LLC - Equities 25,885,472 27,739,697 28,132,657 2,247,186 Southern FinancialLLC - Equity Options Call 100 American Airinces 20 Exp 1/11/2015 12/12/13 1,000 803,315 1,810,000 1,864,000 1,060,686 Put 100 Miriam Airlines n Ex 1/17/2015 12/12/13 (1,000) -197.702 4,404 :Icact ALM Total Southern Financial LW - Equity Options 605,613 1,865,000 1,861,000 1,255,388 Southern Financial ETF's ntrieJapan HedgedEcliiity 12/18/13 80,000 2.966 099 2.998,200 2,992,800 26.701 Total Southern Financial LLC - Equities 2,966,099 2,998,200 2,992,800 26,701 unrealized Southern Financial LLC - FX Options a DanVativiis Ilettnhal Long Put USD vs oNtl Strike 6.16 Exp 8/12/2015 8/12/14 75,000.000 273,000 0 243,601 49,399 Long al USD vs JPY- Strke 101.00E 11/20/2014 11/20/13 1 000 000 44.800 24,497 30,973 -13,827 Short USD vs JPY - Barrier 99 Exp 1 /2 014 11/20/13 (21,000) -16500 743 -2,875 13,625 Short USD vs JPY - Barrier 98 Exp 11/206114 11/20/13 (21,000) -15,000 .817 -1,854 13.146 Short USD vs JPY - Barrier 97 Exp 11/20/2014 11/20/13 (21,000) -.2 6 -1,2Et i2. 12,4411 25,030 25,030 Long 1.345 strike EUR USD Put Exp 9/8/2014 8/6/14 tomoblEio 0 120,812 280.‘88 Short 1.38 strike EUR USD Call Exp 9/8/2014 618114 10,000,000 9Q 1.976 0 11b834 280,888 280,886 total unrealised gain (loss) ent,tif Total Southern Financial LLC - FX Options 4 Derivatives 273,000 131,233 549,519 Southern Financial LLC - tunnel, Euros ft 1.3643 291,847 1.3171 390,462 384,391 Total Southern Financial LLC - Currency 390,462 384,391 EFTA01194340  7/31/14 8/31/14 MTD YTD Asset Description Value Value Return Return Hedge Funds - Southern Financial (SFLLC) Highbridge 20,507,396 20,616,085 0.53% 4.70% Tudor Futures 13,501,622 0 0.00% -2.44% Bruce Galloway 3,893,350 4,412,096 13.32% 10.30% Boothbay Multi-Strategy Fund 10,059,581 10,094,790 0.35% 0.95% Bear Stems Asset Backed Sec 124.916 124,916 (book carryin value) Total Hedge Funds - SF LLC 48,086,865 35,247,887 Hedge Funds - Haze Highbridge 37,979,331 38,180,622 0.53% 4.70% King Street 27.943.42 27.879.153 -0.23% 6.42% Hedge Funds - Haze 65,922,754 66,059,775 Hedge Funds - Jeepers DB Zwim - Corbin -est of 5% holdback 20,000 20,000 CO Dubin Ins pyrnla c4 140. MK I44K & Sea 4.376,862 4 376 862 as of 9/30/2014 Hedge Funds - Jeepers 4,396,862 4,396,862 Total Hedge Funds 118,406,481 105,704,524 SFL Mort Southern FT Asset Description Inc. JEE Trust Real Estate Jeepers Investments SFL Kyara I (at cost) 100,000 Kyara II (at cost) 250,000 Jawbone Investment (grat at cost) 10,000,000 AYH Marina (value per jee) 1,000,000 src Adfin Solutions (at cost) 750,000 124 Parc Moceau - Palm Beach (at cost) 4,869,398 21 East 26th Street (repaid 220,500 of 920,500 (220.5 & 700) cost with 1,650,000 proj 920,500 Columbia Holdings (repaid 588,333 + 333,333 of 588,333 cost with 588,333 projected 255,000 Totals 10,000,000 1,000,000 1,100,000 1,175,500 4,869,398 Total Investments 18,144,898 Hyperion JEGE JEGE Asset Description Air LLC LLC Inc Various Totals Aviation, Automobiles & Boats 2001 Bell 430 N331JE 3,000,000 3,000,000 1988 Gulfstream G-IV N212JE 8,000,000 8,000,000 1968 Boeing 727 N90&lE 3,000,000 3,000,000 Automobiles 700,000 700,000 Boats 700,000 700,000 Total Aviation, Automobile & 3,000,000 8,000,000 3,000,000 1,400,000 15,400,000 Boats I EFTA01194341  Asset Description JEE Totals Loans Receivable Adam By 300,000 300,000 Larry / Eileen Visoski 225,000 225,000 Johnn O'Sullivan 22,446 22,446 200.000 200,000 Total Loans Receivable 747,446 747,446 Enhanced Asset Description Education JEE JEE Various Totals Fine Arts, Antiques & Jewelry Cello 175,000 175,000 32.73 Carrot Emerald Cut Diamond - D 3,500,000 3,500,000 Watches, Earring & Other - see attached 775,000 775,000 Fine Art Schedule - see attached 3,050,000 3.050,000 Total Fine Arts, Antiques & 175,000 3,600,000 775,000 3,050,000 7,500,000 Jewelry _ EFTA01194342