EFTA01121630.pdf

Global Investment Opportunities Group J.P. Morgan Securities LLC. Account Position and MTM Summary (Open Positions) CIO Global investment Opportunities Prepared for Southern Financial LLC as of June 28. 2013 Current EX 8 Commodity rates 1,15DMXN 13.0140 XAUUSD 12009 GBPU50 1.5258 USID/PY 98.420 USDARS 5.3765 USDKRW 114926 EURUSD 1.3037 USDBRL 2A989 USDCHF 0.9453 USDCAD 1.0479 USOTRY 1.920 USDNOK 6.0463 Equity • Intraday PriOng via Bloomberg Dividend Entry Price Current Price Trade Date Symbol Shares Company Currency Industry Cost Basis IS) market value (5) MTM Yield (Local) (Local) 24-MA-13 AMA 9,000 Ariad Pharmaceuticals Inc USD msumer, Non-cyclic 0.00% ($176.400) $157.410 19.60 17A9 ($18,990) 14-Feb-12 ARIA 7,535 Ariad Pharmaceuticals Inc USD msumer, Non-cyclic 0.00% ($114,600) $131,787 15.21 17.49 $17.187 14-Feb-12 BNB 2,095 'Mogen Idec Inc USD msumer, Non-cyclic &CO% ($250,455) $450,844 119.55 215.20 $200,339 12-Jul-10 DAG 50,000 Perdu Db Agri Double Long 1150 Funds 0.00% ($352,550) $448,00(1 7.05 8.92 $93,450 17-May-12 FB 17,500 Facebook Inc-A U5D Communications 0.00% ($665.000) $435.400 38.00 24.88 ($229,600) 23-Apr-13 GE 23,000 General Electric Co U5D Industrial 328% ($495.190) $533,370 21.53 23.19 $38,180 28-May-13 SGMO 50,000 Sangamo Biosdences Inc U5D msumer. Non-cyclic 0.00% ($420,214) $390,500 8.40 7.81 ($29,714) Equity MTM (52,474,403) 52,545,311 570.902 Structured Notes • Manual Pricin. via WM«• an Investment Bank as of Sr d Market Value (5) Interest Trade Date Maturity Face Amount Long Description Cost Ram (5) Entry Price (5) Current Price (5) MTM Received 8-Nov-12 22-Nov-13 1,000,000 Gs Note 11/22/13 Lnkd To Mut Vs Usd 85%Barder- 5% Atm Cpn-22.9%Mxrtin ($1,000,000) $1.028.950 $0 $100.00 $102.90 $28,950 14-Feb-13 20-Aug-14 1,000,000 MS Market Plus MRK 08/20/14 BO% EKO Barrier - 3.5% CPN, Uncapped Initial Level - 2/ ($1,000,000) $1.113.050 $0 $100.00 $111.31 $113,050 5-Apt-12 16-Apr-IS 1,500,0C° Medtor CLN 6.200% CPN 04/16/2015 Did 04/16/2012 ($1,502000) $1.602.600 $69,888 $100.00 $106.84 $172,488 24-May-I3 29-Aug-14 2,000,000 HSBCCBEN 8/29/14 80%efo battia-455cpn-17%cap Initial Level:2764.29 (52.000,000) $1,914,200 SO $100.00 $95.71 (585,800) U.S. Fixed Income Inticiday Pming via Bloomberg Total Int. Trade Date Maturity Face Amount Issuer S&P Rating Next Call Date Coupon Principal Cost Market Value Yield to Worst Entry Price Current Price MTM Accrued 22-Oct-12 01-Apr-2019 1,000,000 Headwaters Inc Be 4/1/2015 7.625% ($1,035,000) $1.047.030 $52,104 819% $103.50 $104.70 $64,104 22-Oct-12 15-May-2019 400,000 Earthlink Inc MC+ 5/15/2015 8.875% ($414,000) $399,840 S24,258 888% $103.50 $99.96 $10,098 23-Oct-12 15-May-2019 600,000 Earthlink Inc MC+ 5/15/2015 8.875% ($619,500) $599,760 S36,240 888% $103.25 $99.96 $16,500 1-Oct-12 III-Jun-2019 1,000,000 Kindred Healthcare Inc 6/1/2014 8.250% ($996,250) $1.020.000 S61,188 7.65% $99.63 $102.00 $84.938 8-Nov-12 Ed-Jun-2019 1,000,003 Kindred Healthcare Inc 6/1/2014 8.250% ($970,000) $1.020.000 $52,708 7.65% $97.00 $102.00 $102,708 24-/an-13 15-Feb-2020 1,500,003 Servicemaster Company 2/15/2015 8.000% ($1,595,625) $1.560.030 S51,333 800% $106.38 $100.00 ($44.292) 25-Feb-13 15-Feb-2020 1,000,003 Servicemaster Company 2/15/2015 8.000% ($1,070,000) $1.0110,030 S27,333 8.00% $107.00 $100.00 ($42.667) 3-Apr-13 10-Apr-2023 300,000 Barclays Bank Plc BBB- 4/10/2018 7.750% ($300,000) $299,250 55,490 7.81% $100.00 $99.75 $4,740 15-Jun-II Perpetua 2,500,000 lemotgan Chase & Co BBB 4/30/2018 7.900% ($2,702,425) $2.795,000 5402,132 5.11% $108.10 5111.80 $494,707 15-Jun-II Perpetua 2,500,000 lemotgan Chase & Co BBB 4/30/2018 7.900% ($2.702,425) $2.795,000 5402,132 5.11% $108.10 5111.80 $(194,707 10-lawl 1 Perpetua 2,000,000 Bank Of America Corp BB* 5/15/2018 8.125% ($2.081.180) $2.258,000 5400,833 5.10% $104.06 5112.90 $577,653 30-3a0-12 Perpetua 3,000,003 Southern Cal Edison BBB- 2/1/2022 6.250% ($2.999,970) $3.197,355 5264,583 5.29% $100.00 5106.58 $461,968 27-Jun-12 Perpetua 2,000,000 General El« Cap Corp 6/15/2022 7.125% ($2.122,920) $2.210,000 S142,896 5.62% $106.15 $110.50 $229,976 29-May-13 Perpetua 1,100,003 General El« Cap Corp 6/15/2023 5.250% ($1,400,000) $1.338,750 55,921 5.83!, $100.00 $95.63 ($55,329) U.S. Fixed Income MTM (521.009.295) 521.479.955 51,929,151 52,399.811 International Fixed Income • Intraday Pricing via Bloomberg Total Int. Entry Price Current Price Trade Date maturity Face Amount Issue S&P Rating Currency Coupon Principal Cost (5) Market Value (5) yield to Worst MTM Accrued (5) (Local) (Local) 9-Oct-12 02-Nov-2017 500,000 Parolees De Venezuela S B USD 8.500% ($440.250) $455,000 530,576 11.17% 88.05 91.00 $45.326 11-Oct-I2 02-Nov-2017 1,000,000 Parolees De Venezuela S B USD 8.500% (5897.500) S910,000 $60,681 11.17% 89.75 91.00 $73,181 10-May-12 16-Dec-2021 1,500,000 Lloyds Tsb Bank Plc BBB. USD 9.875% (51,627,500) $1,728,750 $167,875 4.94% 108.50 115.25 $269,125 26-MA-12 1S-DeC-2035 7,500,000 Republic Of Argentina N/A USD 0.000% ($1,038,750) $419,775 $426,000 13.85 5.60 ($192,975) 13-Oct-I0 15-Dec-2035 10,000,000 Republic Of Argentina N/A ARS 0.000% ($318.000) $148,989 $326,246 12.56 1.49 $157.234 21-May-13 Perpetual 3,000,080 Lbg Capital No.1 Plc 85- USD 8.000% ($3,247,SCO) $3,067,500 $24,667 7.58% 108.25 10225 ($155,333) 12-Jun-13 02-Nov-2017 1,000,080 Parolees De Venezuela S B N/A 8.500% (5925.000) $910,000 $3,778 $92.50 $91.00 ($11,222) EFTA01121630  Global Investment Opportunities Group 1.P. Morgan Securities LLC. GI0 csiobai toymemmit onneyounitivs Account Position and MTM Summary (Open Positions) Prepared for Southern Financial LLC as of June 28, 2013 Current FX & Commodity rates U5DS.04 13.0144 XAUUSD 12099 GBP1350 1.5258 135CUPY 98.420 USOARS 5.3765 USDKRW 1149.76 EURUSD 1.3037 USDBRL 2.1989 1.15XliF 0.9453 USDCAD 1.0479 USOTRY 1.920 USDNOK 6.0463 international Fixed income MTM (58,43kisom nalinit 51.039.822 5185.336 Mortgage and Asset Backed • Manual Pricing via JPMorgan Investment Bank Total Princrint Entry Price Current Prke Trade Date Maturity Original Face ISM"! S&P Rating Next Call Date Coupon Principal Cost 0) Market Value (5) MTM (5) (Local) (Local) 24-Jan-13 25-Aug-2029 9,551,003 Hmbt 2004-1 1M1 CCC 7/25/2013 1.093% (5562273) $745,078 530,612 56.25 76.54 5213,416 6-Feb-13 20 -Dec-2032 5,701,003 Sent 11 Ell CCC 7/20/2013 1.647% (5781,919) 6771,794 529,601 73.75 74.44 119,516 23-Aug-12 25-Aug-2033 3,325,003 Cwhl 2093-26BI 7/25/2013 5.330% ($1,231,222) $814,392 5252,482 77.00 57.86 (5164,349) 28-Nov-12 25-Feb-2037 6,160,000 Chose 2097-Al 2A4 CCC 9/25/2022 2.744% ($2,042,809) 51,868,522 5347,245 88.50 94.52 5172,957 16-Apr-13 25-Mar-2033 4,500,000 Cwhl 2003-I B1 7/25/2013 5.750% (51,448,803) 51,290,216 5161,373 95.50 94.02 52,786 30-Apr-13 25-Apt-2033 2.726,000 Sasc 2003.10 82 CCC 10/25/2013 6.000% ($1,076,783) 5941,412 $93,299 100.00 94.74 042.070 Mortgage and Asset Backed MTM (57.143.810) 56.431,553 51,699.598 5202,255 Listed Preferreds Dividends Entry Price Current Price Trade Date Maturity Shares Company S&P Rating Par Amount Coupon Principal Cost (5) market value (S) Yield to worst MTM Received (5) (Local) (Local) 18-Nov-1O 12/12013 8,000 General Motors Co N/A 550.00 4.75% (5400.000) $385,280 $48,450 15.44% 50.00 48.16 $33,730 9-Elm-10 122/2013 63,000 General Motors Co N/A 550.00 4.75% ($3,185,973) 53,034,080 5372,816 15.44% 50.57 48.16 5220,923 15-Feb-13 2/1/2016 6,000 Cliffs Natural Resources N/A 525.00 7.00% (S150.000) $106,440 52,392 22.89% 25.00 17.74 (541,168) 22-Feb-12 2/15.2040 80,000 Gmac Capital Dust I CCC.r. 525.00 8.13% (51,882,800) 52,084,000 5218,021 6.23% 23.54 26.05 $419,221 3-Feb-12 Perpetual 46,600 Ally Financial Inc CCC. f•• 525.00 8.50% (51,002,426) 51,205,076 5117,730 673% 21.51 25.86 $320,580 9-Feb-12 Perpetual 80,000 Ally Financial Inc CCC. f•• $25.00 8.50% ($1,780,003) 52,068,800 099,278 673% 22.25 25.86 6488,078 24-Oct-12 Perpetual 40,000 Royal Bk ScotInd Grp 9k BB $25.00 725% (5951.600) 6958,400 $42,292 7.60% 2379 23.96 549,092 7-Jan-13 Perpetual 40,000 Royal Bk ScotInd Grp 9k BB $25.00 725% (5977,600) 6958,400 527,590 7.60% 24.44 23.96 58,390 14-1an-13 Perpetual 40,000 Royal Bk ScotInd Grp 9k BB $25.00 725% (5995.200) 6958,400 $26,181 7.60% 24.88 23.96 (S10,619) Listed Preferreds MTM (511,325,399) 511,758.876 51,054,748 61.488,225 Mutual Funds and Money Market Dividends Entry NAV Current NAV Trade Date Symbol Units Company Craw Initial Cost IS) Market Value (5) MTM Received (5) (Local) (Local) Avg JLTSX 49,504.95 Jpmorgan Latin America-Sol USD (1,000,000.00) 5882,178 So 20.200) 17.82 ($117,822) Mutual Funds and Money Market MTM (51,000,000) 5882,178 50 (5117,822) Forward Contracts • Rates sourced intrad from Bloomber Current Spot Current Alain Trade Date Value Date Bought Notional Sold Notional Fix Date Contract Spot Contract Forward M17,1 Rate Forward 6-May-13 8-Aug-13 CHF 6,138,000 EUR 5,000,000 4-Aug-13 12284 12276 1.22921 1.22900 (57.391) 23-May-13 8-Aug-13 EUR 4,904,319 CHF 6,138,000 4-Aug-13 1.25185 1.25155 1.22921 1.22900 (5117,332) 23-May-13 28-Aug-13 JPY 740,325,000 CAD 7,500,000 24-Aug-13 99.08 0.71 94.40050 9425058 5338,136 10-Jun-13 28-Aug-13 CAD 2,500,000 JPY 242,025,000 24-Aug-13 97.02 96.81 94.40050 9425058 ($64,786) Forward Contracts MTM 5148,626 • MTM Modelled via Bloomberg 8-Aug-12 08-Oct-13 Bought JOY Put 10,000,000 80.90 CAD Call (5347,609) I 51,375,096 51,027287 EFTA01121631  CI0] Global Investment Opportunities Group 1.P. Morgan Securities LLC. Account Position and MTM Summary (Open Positions) clonal Irma-nen. opportunities Prepared for Southern Financial LLC as of June 28, 2013 Current FX 8, Commodity rates USOMXN 13.0144 XAUUSD 1200.9 GBPUSD 1.5258 USIDWY 98.420 USDARS 5.3765 USDKRW 1149.76 EURUSD 13037 USIDEIRL 2A989 USDCHF 0.9453 USDCAD 1.0479 USDTRY 1.920 USG:NO& 6.0463 8-Aug-12 08-Oct-13 Sold JPY Call 10,000,000 76.90 CAD Put Exp KI O 69.65 5347,809 SO 3347.009 10-1un-13 10-Sep-13 Sold JPY Call 5,0-30,1300 97.25 USD Put Exp KI O94.75 585,000 (568.406) $16,594 10-Jun43 10-Sep-13 Bought JPY Put 5,000,1300 100.00 USD Call ($121.500) 5111,982 (59,518) 10-Jun43 10-Sep-13 Sold JPY Put 4,761,905 105.00 USD Call 536,500 ($3Z4O4) 54.0% FX Options MTM 50 51,386,267 51,386,267 Commodity Options • MTM Modelled via Bloomberg Original Current Premium Trade Date Expiration Direction Commodity Type Notional (oz) Strike Currency Notional Type Premium IS) IS) 19-Apr-13 11-1uI-13 Bought C0Q3 Call 100,000 111 11,100,000 Put 11-Jul-13 ($86,000) $2.985 ($83,014.94) 19-Apr-13 11-1uI-13 Sold C0Q3 Put 100,000 87.5 8,750,000 Call 11-Jul-13 $86,000 (51.481) $84.518.61 Commodity Options MTM SO 51,504 51,504 Total Return Swaps Effective Maturity Accrued interest Entry Price Dividends Current Price Trade Date Underlying Shares Rate Spread (bps) Notional Date Date Paid (Local) Earned (Local) 18-Mar-13 18-Mar-13 20-Mar-14 K0Spi Transport ECtuipMt 818,972 3mL 030% $1,999,999.37 ($5,514) 2504.92 SO 2,472.63 (593.724) Total Return Swaps MTM ($5,514) (593,724) MTM Snapshot Open NOM 2013 Closed Pd. Open MTM • 2013 Closed PIL JO_ Performance Snapshot EQ I LO 570,902 S194,543 5265.450 Fl /SP 54,504,314 $1,801,602 $6,305,916 2012 EOY Open MTM $5,685,137 Repo SO SO SO Current Open MTM $5,900,067 MF /ST (5117.822) SO (5117,822) Derivative 51,442,673 ($2,128,681) (5686,009) YTD Change In Open MTM $214,930 Alternative SO SO SO 2013 Closed PIL (5132 532) Other 1 Miscellaneous SO SO SO 2013 Net Performance $82,399 (Q2013 WIN0NIen ChMe& CO. EFTA01121632  Global Investment Opportunities Group J.P. Morgan Securities LLC. G I0 criobat in, ow 'swiss oor,ano II it Account Position and MTM Summary (2013 Closed Positions) IC, Prepared for Southern Financial LLC as of June 28. 2013 E szi Dividend Entry Price Closing Price Trade Date Symbol Shares Company Currency Industry Cost Basis (5) Market Value (5) Closing Date PA Yield (Local) (Local) 8-lan-13 CLMT 4,400 Calumet Specialty Products USD Energy 7.48% ($139.964) $137,452 8-Jan-13 31.81 31.24 (52.512) Eelan-13 51-RC 4,400 Solar Capital Ltd USD Financial 10.39% (5107.360) $105,688 8-Jan-13 24.40 24.02 (51,672) Eelan-13 3,200 Tesoro Logistics Lp USD Energy 3.24% ($133.440) $134,909 9-Jan-13 41.70 42.16 $1,469 IS-Jan-13 USAC 6,000 Usa Compression Partners Lp USD Industrial 5.92% ($108.000) $106,260 15-lan-13 18.00 17.71 (51,740) I6-Jan-13 ALNY 2,400 Alnylam Pharmaceuticals Inc USD 'mower, Non-cyclic 0.00% ($48312) $50,040 lErlan-13 20.13 20.85 $1,729 I6-Jan-13 ITMN 6,600 Intermune Inc USD 'mower, Non-cyclic 0.00% ($65340) $66,125 lErlan-13 9.90 10.02 $785 17-Jan-13 AVEO 2,400 Aveo Pharmaceuticals Inc USD 'mower, Non-cyclic 0.00% ($18,000) 517.899 17-Jan-13 7.50 146 ($101) 17-Jan-13 CVRR 1,800 Cvr Refining Lp USD Energy 21.02% ($45.000) $45.871 17-Jan-13 25.00 25.48 $871 I8-Jan-13 MCP 6,000 Molycorp Inc USD Basic Materials 0.00% ($114.000) $111358 18-Jan-13 19.00 18.56 (52.643) I8-Jan-13 1.600 Norwegian Cruise Line Holdin USD Consumer, Cyclical 0.00% (530,400) $39.328 18-Jan-13 19.00 24.58 $8,928 I8-Jan-13 Nfl 5,200 Northern Ter Energy Lp USD Energy 2048% (5127.192/ $126,149 18-Jan-13 24.46 24.26 (51,043) 14-Feb-I3 ARIA 9,000 Ariad Pharmaceuticals Inc USD 'mower, Non-cyclic 0.00% ($136.878) $174408 24-Jan-13 15.21 19.38 $37,530 24-Jan-13 8PL 4,000 Buckeye Partners Lp USD Energy 5.99% ($210.160) $208,523 24-Jan-13 52.54 52.13 (51,637) 25-Jan-13 BFAM S00 Bright Horizons Family Solut USD ansurner, Non-cyclic 0.00% (SI L000) $13.758 25-lan-13 2100 27.52 $2.758 25-Jan-13 MCP 2,500 Molycorp Inc USD Basic Materials 0.00% (515,000) 517.400 25-lan-13 6.00 6.96 $2,400 29-Jan-13 PNY 6,500 Piedmont Natural Gas Co USD Utilities 3.68% ($208.0001 5207.410 30-Jan-13 3100 31.91 ($590) 31-Jan-13 KERX 1.500 Keryx Biopharmaceuticals USD 'mower, Non-cyclic 0.00% ($12,735) $14,190 31-Jan-13 8.49 9.46 $1455 31-Jan-13 VNR 3,500 Vanguard Natural Resources USD Energy 8.82% (597.475) $96.983 31-Jan-13 2185 27.71 ($492) 31-Jan-13 ITS 254100 Zoetis Inc USD answer, Non-cyclic 0.85% ($650.0001 $786482 1-Feb-13 26.00 31.46 $136,482 I -Feb-13 CHSP 1.500 Chesapeake Lodging Trust USD Financial 4.62% (531.125) $31,559 1-Feb-13 20.75 21.04 $434 I -Feb-13 NMM 3,500 Navios Maritime Partners to USD Industrial 1215% ($49325) 548.859 1-Feb-13 14.15 13.96 ($666) 5-Feb-I3 (PD 4,000 Enterprise Products Partners USD Energy 4.31% ($218.240) $218,072 5-Feb-13 54.56 54.52 ($168) 5-Feb-I3 BCC 1.000 Boise Cascade Co USD Industrial 0.00% ($21000) $25,269 6-Feb-13 21.00 25.27 $4,269 7-Feb-I3 BCC 3,500 Boise Cascade Co USD Industrial 0.00% ($69310) $69,263 7-Feb-13 19.86 19.79 ($247) 14-Feb-I3 ARR 29,000 Armour Residential Reit Inc USD Financial 17.113% ($198.360) $193,141 14-Feb-I3 6.84 6.66 ($5,219) 15-Feb-I3 CIS 3,000 Cliffs Natural Resources Inc USD Basic Materials 3.69% ($87.000) $89,148 15-Feb-I3 29.00 29.72 $2.148 15-Feb-I3 NUN 8,000 Nielsen Holdings Nv USD Communications 1.90% ($260.400) $260,654 15-Feb-13 3155 32.58 $254 15-Feb-I3 PXO 1,000 Pioneer Natural Resources Co USD Energy 0.05% ($128.0001 $130,328 15-Feb-13 128.00 130.33 $2,328 21-Feb-I3 KORS 20,000 Michael Kors Holdings Ltd USD Consumer, Cyclical 0.00% (51,230,000) $1.201,181 21-Feb-I3 61.50 60.06 (528.819) 21-Feb-13 KMP 3,000 Kinder Morgan Energy Prints USD Energy 6.09% ($259.050) $259,377 21-Feb-I3 86.35 86.46 $327 27-Feb-13 AGNC 154100 American Capital Agency Corp USD Financial 18.25% ($474.450) $473,839 27-Feb-I3 31.63 31.59 ($611) 27-Feb-13 MPW 1.250 Medical Properties Trust Inc USD Financial 5.59% (517,813) 517.887 27-Feb-I3 14.25 14.31 $75 28-Feb-13 OCP 3,500 Dyncorp International Inca USD answer, Non-cyclic 0.00% ($142.205) $143,357 1-Mar-13 40.63 40.96 $1,152 5-Mar-13 WP2 2,750 Williams Partners Lp USD Energy 6.57% ($135.135) $134,362 5-Mar-13 49.14 48.86 ($773) 6-Mar-13 MI 4,000 Apollo Commercial Real Estat USD Financial 10.08% ($68,200) $68,238 6-Mar-13 17.05 17.06 $38 6-Mar-13 MHO 500 ItM Homes Inc USD Consumer, Cyclical 0.00% ($11.750) $12,210 6-Mar-13 23.50 24.42 $460 6-Mar-13 0 2,000 Realty Income Corp USD Financial 5.20% ($91.800) $91,078 6-Mar-13 45.90 45.54 ($722) 7-Mar-13 DISCK 1,500 Discovery Communications{ USD Communications 0.00% ($97.125) $100.438 7-Mar-13 64.75 66.96 $3,313 7-Mar-13 KM 1.500 Kar Auction Services Inc USD answer, Non-cyclic 3.31% ($28,875) $29,234 7-Mar-13 19.25 19.49 $359 7-Mar-13 BKU S00 Bankunited Inc USD Financial 3.23% ($12,625) $12,755 8-Mar-13 25.25 25.51 $130 8-Mar-13 PCYC 2,500 Pharmacyclics Inc USD answer, Non-cyclic 0.00% ($23000) $235,330 8-Mar-13 94.00 94.13 $330 12-Mar-I3 LXP 2,000 Lexington Realty Trust USD Financial 5.14% ($23.400) $23,339 12-Mar-13 11.70 11.67 ($61) 13-Mar-I3 BNNY 1.250 Anniel Inc USD answer, Non-cyclic 0.00% ($50.000) 549.949 13-Mar-13 40.00 39.96 ($51) 13-Mar-I3 HTWR 600 Heartware International Inc USD answer, Non-cyclic 0.00% ($51.870) $52,055 13-Mar-13 86.45 86.76 $185 14-Mar-I3 VIPS 1.000 Vipshop Holdings Ltd Ads USD Communications 0.00% ($24,000) $24,609 14-Mar-13 24.00 24.61 $609 15-Mar-I3 TRLA 1.000 Trulia Inc USD Communications 0.00% ($29.750) $31,009 15-Mar-13 29.75 31.01 $1,259 3-Apr-I3 MCC 3,500 Ares Capital Corp USD Financial 8.84% ($61.635) $61,344 3-Apr-13 17.61 17.53 ($291) 9-Apr-I3 CU2 4,000 Cousins Properties Inc USD Financial 1.78% ($41.800) $42,359 9-Apr-13 10.45 10.59 $559 10-Apr-13 TMIIC 1,500 Taylor Morrison Home Corp-A USD Consumer, Cyclical 0.00% ($33.000) $34,754 10-Apr-13 2100 23.17 $1.754 I I -Apr-13 RLGY 9,000 Reategy Holdings Corp USD Financial 0.00% ($396.000) $401,119 11-Apr-13 44.00 44.57 $5,119 I I -Apr-13 INPI 7,500 Infinity Pharmaceuticals Inc USD answer, Non-cyclic 0.00% ($300.000) $308768 11-Apr-I 3 40.00 41.17 $8,768 12-Apr-13 EVTC 4,000 Evertec Inc USD answer, Non-cyclic 0.00% (580,000) $85,430 12-Apr-I 3 20.00 21.36 $5,430 12-Apr-13 GTE 1,500 Caesantone Sdot-Yam Ltd USD Industrial 0.00% ($34,875) $35,639 12-Apr-I 3 23.25 23.76 $764 113rAprr13 APL 21,000 Mat Pipeline Partner Lp USD Energy 6.10% ($714.000) $723,644 la-Apr.13 34.00 34.46 $9.644 18-Apr-13 2.000 Intelsat Sa USD Communications 0.00% (536.000) 533.919 18-Apr-I 3 18.00 16.96 (52.081) 18-Apr-13 ROSE 1.000 Rosetta Resources Inc USD Energy 0.00% ($42,500) $42.459 18-Apr-I 3 4/50 42.46 (541) 18-Apr-13 TAM 1.000 Tarninto Corp USD Basic Materials 0.00% (515.000) $14.080 18-Apr-13 15.00 14.08 ($920) EFTA01121633  Global Investment Opportunities Group J.P. Morgan Securities LLC G I0 ca<amt I.nosrn.c.v onnarton nit, Account Position and MTM Summary (2013 Closed Positions) Prepared for Southern Financial LLC as of June 28. 2013 11.Oc411 TEF (1,500) Telefonica Sa-Spon Adr USD Communications 0.00% 530,080 ($20.700) 18-Apr-13 20.05 13.80 59,380 15-lun-12 TEF (39) Telefonica Sa-Spon Adr USD Communications 0.00% $488 ($538) 18-Apr-13 12.52 13.80 (550) 19.4pr-13 SEAS 2200 Seaworld Entertainment Inc USD Consumer, Cyclical 2.28% ($54,000) 561,419 19-Apr-13 27.00 30.71 57,419 25.Apr-13 MD 15,000 Prolog is Inc USD financial 2.97% (5624.000) $624,136 25-Apr-13 41.60 41.61 $136 26-Apr -13 RESI 4,000 Altisource Residential Corp USD financial 0.00% (575.000) $78,238 26-Apr-13 18.75 19.56 53,238 26-Apr -13 SPNC 600 Spectranetics Corp USD 'muffler, Non-cyclic 0.00% ($10800) $11,220 26-Apr-13 18.00 18.70 $420 1-May-13 SEIGI 4000 Sinclair Broadcast Group -A USD Communications 2.04% ($109.000) 5108,878 2.May-13 2725 27.22 ($122) -2May-13 VOVA 2,000 Ing Us Inc USD Financial 0.00% (539.000) 538.439 2.May-13 19.50 19.22 ($561) 3-May-13 QIWI 2,000 Dive' Plc-Sponsored Adr USD Communications 0.00% (534.000) 534.139 3.May-13 17.00 17.07 $139 3-May.13 CETV 11,000 Central European Media Ent-A USD Communications 0.00% (530250) 530.469 3.May-13 2.75 2.77 $219 6-May.I3 HT2 4.000 Hertz Global Holdings Inc USD ',Hunter, Non-cyclic 0.00% (599.000) 598.318 7.May-13 24.75 24.58 ($682) -8May-I3 VNTV 3.000 Vantiv Inc C A USD ',Hunter, Non-cyclic 0.00% (571.250) $71,218 8.May-13 23.75 23.74 ($32) -8May-I3 WBS 2000 Webster Financial Corp USD financial 2.34% ($45.600) 545.519 8.May-13 2220 22.76 ($81) 24-Oct-12 DF 25,000 Dean Foods Co USD ',Hunter, Non-cyclic 0.00% (5470,450) $469,489 8.May-13 1822 18.78 (5961) 9-May.13 CYNI 1,000 Cyan Inc USD Communications 0.00% ($11.000) $10.010 9-May-13 11.00 10.01 ($990) 9-May.13 EMES 3.500 Emerge Energy Services Lp USD ',Hunter, Non-cyclic 0.00% (559.500) 559.009 9-May-13 17.00 16.86 ($491) 9-May.13 IIC14 1.000 Health Care Reit Inc USD financial 4.56% (573300) $73,558 9-May-13 73.50 73.56 558 9-May.13 ISIS 4,000 Isis Pharmaceuticals Inc USD ',Hunter, Non-cyclic 0.00% ($76.000) $75,878 9-May-13 19.00 18.97 ($122) 9-May.13 Q 1.000 Quintiles Transnational Hold USD ',Hunter, Non-cyclic 0.00% (540.000) $43.719 9-May-13 40.00 43.72 53,719 9-May.13 PFSI 200 Pennymac Financial Service-A USD financial 0.00% (53.600) $3.642 9-May-13 18.00 18.21 542 I0-May-13 APO 40,000 Apollo Global Management -A USD financial 9.47% (51,000,000) $997.100 10-May.13 25.00 24.93 (52,900) I0-May-13 TRNX 1.500 Tornier Nv USD 'muffler, Non-cyclic 0.00% (524,225) $24,809 10-May.13 16.15 1654 $584 13.May-13 ARE 2200 Alexandria Real Estate Equit USD financial 3.96% ($147.000) $149,917 13-May.13 73.50 74.96 $2,917 13.May-13 NUN 20200 Nielsen Holdings Nv USD Communications 1.90% (5700,200) $695,652 13-May.13 35.01 34.78 (54548) 13.May-13 SPIT 2,500 Suburban Propane Partners Lp USD Energy 7.53% (5