EFTA01470072.pdf

Account Number: N4G-023804 Statement Period: 07/01/2014 - 07/31/2014 SOUTHERN FINANCIAL LLC 6100 RED HOOK QUARTER B3 ST THOMAS VI 00802 Valuation at a Glance Beginning Account Value Net Cash Deposits and Withdrawals Adjusted Previous Account Value Dividends, Interest and Other Income Net Other Activity Net Change in Portfolio Your Client Advisor: TAZIA SMITH Commission Amount: $27,392.77 Ending Account Value Estimated Annual Income This Period $104,484,144.67 174,637.50 104,658,782.17 56,959.99 -18.00 -1,080,058.72 $103,635,665.44 $3,883,464.43 Year-to-Date $90,573,050.28 10,110,542.15 100,683,592.43 1,978,167.63 -54.00 973,959.38 $103,635,665.44 Asset Allocation USD Cash, Money Funds, and Bank Deposits USD Fixed Income Non-USD Fixed Income USD Equities Non-USD Cash, Money Funds, and Bank Deposits Non-USD Equities Other Account Total (Pie Chart) Prior Year-End 18,295,949.71 27,736,972.38 10,227,309.46 30,410,519.65 402,106.34 EFTA01470072 3,137,192.74 363,000.00 $90,573,050.28 See page 2 of this statement for important information regarding the Asset Allocation section. Last Period 28,725,102.30 25,298,134.48 7,819,092.00 39,280,677.80 399,538.09 2,961,600.00 0.00 $104,484,144.67 30,329,970.74 23,923,091.06 7,759,787.00 41,232,354.98 390,461.66 0.00 0.00 This Period % Allocation 29.27% 23.08% 7.49% 39.78% 0.38% 0.00% 0.00% $103,635,665.44 100.00% Pie Chart allocation only includes products that are of positive value. Assets of less than 1% of holdings will not display on this pie chart. Page 1 of 19 60098073CSF30017 EFTA01470073 Asset Allocation Disclosure and Footnotes Certain values have been defaulted into the Other Asset Class due to incomplete categorizing data All values are displayed in U.S. dollars based on interbank exchange rates as of 07/31/2014. Exchange rates can vary. Equities contains Equity Mutual Funds. Summary of Gains and Losses Short-Term Gain/Loss Realized This Period 11,982.42 Long-Term Gain/Loss Net Gain/Loss This summary excludes transactions where cost basis information is not available. Exchange Rate Table Currency EURO USD Equivalent 1.3379 Currency per USD 0.7474 Exchange rates are based on interbank exchange rates as of 07/31/2014. Exchange rates can vary. Money Market Fund Detail Date Activity Type Sweep Money Market Fund DWS GOVERNMENT CASH INSTL Account Number: 0000001490 Current Yield: 0.03% Activity Ending: 07/31/14 07/01/14 07/02/14 07/09/14 07/14/14 07/16/14 07/17/14 07/21/14 07/28/14 07/31/14 07/31/14 Opening Balance Withdrawal Withdrawal Deposit Deposit Deposit Deposit Deposit Deposit Closing Balance EFTA01470074 Total All Money Market Funds MONEY FUND REDEMPTION MONEY FUND REDEMPTION MONEY FUND PURCHASE MONEY FUND PURCHASE MONEY FUND PURCHASE MONEY FUND PURCHASE MONEY FUND PURCHASE INCOME REINVEST 28,725,102.30 -18.00 -170,000.00 344,637.50 1,144,800.00 35,568.89 85,299.96 158,028.25 750.64 28,725,102.30 28,725,084.30 28,555,084.30 28,899,721.80 30,044,521.80 30,080,090.69 30,165,390.65 30,323,418.90 30,324,169.54 $30,324,169.54 $30,324,169.54 Description Global Cash Currency EURO Total Global Cash Balance Closing Balance 291,846.67 Amount in Base Currency USD 390,461.66 $390,461.66 -1,211,275.73 -1,199,293.31 Year-to-Date 16,232.52 -4,417,247.47 -4,401,014.95 Unrealized 2,473,732.20 -53,473.67 2,420,258.53 EFTA01470075 Amount Balance Page 2 of 19 B0098073CSF30017 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC EFTA01470076 Statement Period: 07/01/2014 - 07/31/2014 Income and Expense Summary Dividend Income Equities Money Market Other Dividends Interest Income Bond Interest FDIC Insured Bank Deposits Other Interest Total Dividends, Interest, Income and Expenses Distributions Alternative Investments Other Distributions Total Distributions Portfolio Holdings U.S. DOLLARS Opening Date Money Market DWS GOVERNMENT CASH INSTL 07/01/14 Total Money Market FDIC Insured Bank Deposits INSURED DEPOSITS PROGRAM 07/01/14 Total FDIC Insured Bank Deposits Total Cash, Money Funds, and Bank Deposits N4G023804 07/31/14 30,324,169.540 0000001490 07/31/14 28,725,102.30 $28,725,102.30 0.00 $0.00 $28,725,102.30 30,324,169.54 $30,324,169.54 0.00 $0.00 $30,329,970.74 0.00 $0.00 0.00 $0.00 $0.00 2,771.83 $2,771.83 2,691.15 $2,691.15 $5,462.98 EFTA01470077 Page 3 of 19 B0098073CSF30017 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC N/A N/A 0.03% 0.03% Quantity Account Number Cash, Money Funds, and Bank Deposits Cash Balance Activity Ending Opening Balance 0.00 Closing Balance 5,801.20 Accrued Income Income This Year 30-Day Yield Current Yield Current Period Taxable 10,861.20 750.64 0.00 45,348.15 0.00 0.00 $56,959.99 0.00 0.00 $0.00 Year-to-Date Non Taxable 0.00 0.00 0.00 0.00 0.00 0.00 $0.00 0.00 EFTA01470078 57,770.13 $57,770.13 Taxable 352,120.98 2,771.83 405,255.20 628,816.95 2,691.15 81,250.08 $1,472,906.19 0.00 0.00 $0.00 Non Taxable 0.00 0.00 0.00 0.00 0.00 0.00 $0.00 505,261.44 467,055.53 $972,316.97 EFTA01470079 Portfolio Holdings (continued) U.S. DOLLARS (continued) Date Acquired Quantity Fixed Income (In Maturity Date Sequence) 6Asset Backed Securities COUNTRYWIDE HOME LOANS SER 03-1 CL B1 4.090% 03/25/33 B/E DTD 01/30/03 Factor: 0.23647713 Effective Date:07/01/14 Current Face Value: 1,064,147.085 12/13/13 *,3,12 4,500,000.000 Unit Cost Adjusted Cost Basis Market Price Market Value Unrealized Gain/Loss Accrued Interest Estimated Annual Income Estimated Yield Security Identifier: 12669DYS1 93.3760 WASHINGTON MUT MTG SECS CORP 2004-RA2 MTG PASSTHRU CTF CL C-B-1 VAR RATE 6.973% 07/25/33 B/E DTD 06/01/04 S & P Rating D Factor: 0.57972161 Effective Date:07/01/14 Current Face Value: 747,840.877 12/13/13 *,3,12 1,290,000.000 Total Asset Backed Securities 5,790,000.000 Total Current Face Value: 1,811,987.962 Corporate Bonds 1SG STRUCTURED PRODS INC COMMODITY LKD MKT PLUS PROTECTED NOTES 0.000% 08/05/14 B/E DTD 07/30/13 07/25/13 *,12,13 2,000,000.000 1HSBC USA INC MEDIUM TERM NTS BUFFERED NOTES LKD TO EURO STOXX 50 0.000% 08/29/14 B/E DTD 05/30/13 05/24/13 *,12,13 2,000,000.000 JPMORGAN CHASE & CO MEDIUM TERM NTS CAPPED CONTINGENT BUFFERED EQUITY NTS EFTA01470080 0.000% 10/16/14 B/E DTD 09/27/13 12/05/13 *,3,12 1,000,000.000 100.0000 PETROLEOS DE VENEZUELA NOTES SENIOR ISIN#XS0460546525 5.000% 10/28/15 REG DTD 10/28/09 S & P Rating B+ 12/04/13 *,3,12 2,500,000.000 100.0000 100.0000 2,000,000.00 109.1200 Original Cost Basis: $2,000,000.00 Security Identifier: 40432XFP1 2,000,000.00 111.1300 Original Cost Basis: $2,000,000.00 Security Identifier: 48126NVE4 1,000,000.00 103.5900 Original Cost Basis: $1,000,000.00 Security Identifier: P7807HAF2 93.1760 2,329,395.36 93.8750 Original Cost Basis: $2,250,000.00 Page 4 of 19 B0098073CSF30017 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC 2,346,875.00 17,479.64 31,944.44 125,000.00 5.32% 1,035,900.00 35,900.00 0.00 2,222,600.00 222,600.00 0.00 2,182,400.00 182,400.00 0.00 Security Identifier: 78423EHS6 993,662.69 86.5880 921,423.68 Original Cost Basis: $1,111,573.07 Security Identifier: 939336S20 EFTA01470081 -72,239.01 3,626.97 76.5190 572,237.44 86.9620 650,337.38 Original Cost Basis: $638,906.71 $1,565,900.13 $1,571,761.06 78,099.94 $5,860.93 4,346.08 $7,973.05 $0.00 EFTA01470082 Statement Period: 07/01/2014 - 07/31/2014 Portfolio Holdings (continued) U.S. DOLLARS (continued) Date Acquired Quantity Unit Cost Fixed Income (continued) Corporate Bonds (continued) HEADWATERS INC GTD SR NT 7.625% 04/01/19 B/E DTD 03/11/11 CALLABLE 04/01/15 @ 103.813 Moody Rating B2 S & P Rating B+ 10/22/12 *,12,13 1,000,000.000 102.2300 EARTHLINK INC GTD SR NT FULLY EXCHANGED CUSIP FROM 270321AB8 8.875% 05/15/19 B/E DTD 05/17/11 CALLABLE 05/15/15 S & P Rating CCC+ 10/22/12 *,3,12 10/23/12 *,3,12 Total Noncovered Total 400,000.000 600,000.000 1,000,000.000 1,000,000.000 SERVICEMASTER CO SR NT - CUSIP FULLY EXCHANGED FROM OLD CUSIP 81760NAL3 8.000% 02/15/20 B/E DTD 02/13/12 Moody Rating CAA1 S & P Rating B01/24/13 *,12,13 02/25/13 *,12,13 Total Noncovered Total 440,000.000 1,000,000.000 1,440,000.000 1,440,000.000 LLOYDS TSB BK PLC EURO ISSUE MEDIUM TERM NOTES ISIN#XS0717735822 9.875% 12/16/21 REG DTD 12/16/11 Moody Rating Bal S & P Rating BBB 12/04/13 *,3,12 1,500,000.000 108.0100 104.6890 105.2120 Adjusted Cost Basis Market Price Security Identifier: 42210PAQ5 EFTA01470083 1,022,304.34 105.0000 Original Cost Basis: $1,035,000.00 Security Identifier: 270321AC6 102.7280 102.5350 410,912.83 102.2500 Original Cost Basis: $414,000.00 615,210.29 Original Cost Basis: $619,500.00 1,026,123.12 $1,026,123.12 Security Identifier: 81760NAN9 460,632.52 105.7500 Original Cost Basis: $468,050.00 1,052,117.23 105.7500 Original Cost Basis: $1,070,000.00 1,512,749.75 $1,512,749.75 Security Identifier: G4S15PP48 1,620,150.37 117.3750 Original Cost Basis: $1,627,500.00 Page 5 of 19 B0098073CSF30017 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC 1,760,625.00 140,474.63 92,166.67 148,125.00 8.41% 465,300.01 1,057,499.99 1,522,800.00 $1,522,800.00 4,667.49 5,382.76 10,050.25 $10,050.25 16,231.11 36,888.89 53,120.00 $53,120.00 35,200.00 80,000.00 115,200.00 $115,200.00 EFTA01470084 7.56% 7.56% 102.2500 409,000.00 613,500.00 1,022,500.00 $1,022,500.00 -1,912.83 -1,710.29 -3,623.12 -$3,623.12 7,494.44 11,241.67 18,736.11 $18,736.11 35,500.00 53,250.00 88,750.00 $88,750.00 8.67% 8.67% 1,050,000.00 27,695.66 25,416.67 76,250.00 7.26% Market Value Unrealized Gain/Loss Accrued Interest Estimated Annual Income Estimated Yield EFTA01470085 Portfolio Holdings (continued) U.S. DOLLARS (continued) Date Acquired Quantity Unit Cost Fixed Income (continued) Corporate Bonds (continued) SOUTHERN CALIF EDISON CO PREF SER E 6.250% 02/01/22 B/E DTD 01/17/12 CALLABLE 02/01/22 Moody Rating BAA1 S & P Rating BBB01/30/12 *,3,12 3,000,000.000 BARCLAYS BK PLC CONTINGENT CAP NT ISIN#US06739FHK03 7.750% 04/10/23 B/E DTD 04/10/13 CALLABLE 04/10/18 S & P Rating BB+ 04/03/13 *,12,13 300,000.000 99.8000 Adjusted Cost Basis Market Price Security Identifier: 842400FU2 2,994,009.46 108.5000 Original Cost Basis: $2,992,564.97 Security Identifier: 06739FHK0 100.0000 JPMORGAN CHASE & CO DEP SHS REPSTG 1/10TH PFD SER 1 FIXED TO FLTG RT BD 7.900% 04/29/49 B/E DTD 04/23/08 Moody Rating BA1 S & P Rating BBB 06/15/11 *,3,12 06/15/11 *,3,12 Total Noncovered Total 2,500,000.000 2,500,000.000 5,000,000.000 5,000,000.000 BANK AMER CORP PERP NON COMULATIVE DEP SHS FIXED TO FLOAT 8.125% 04/30/58 B/E DTD 04/30/08 CALLABLE 05/15/18 Moody Rating BA3 S & P Rating BB+ 01/10/11 *,3,12 2,000,000.000 GENERAL ELEC CAP CORP NON CUM PFD SER A 7.125% 06/12/62 B/E DTD 06/12/12 CALLABLE 06/15/22 Moody Rating BAA1 S & P Rating AA06/27/12 *,12,13 EFTA01470086 2,000,000.000 LBG CAPITAL NO 1 PLC 144A ISIN#XS0473106283 8.000% 09/15/88 REG DTD 12/15/09 FOREIGN SECURITY S & P Rating BB 12/04/13 *,3,12 1,200,000.000 105.5300 2,110,605.12 117.0000 Original Cost Basis: $2,122,916.67 Security Identifier: G5433BBG8 108.2500 1,299,000.00 110.0010 Original Cost Basis: $1,299,000.00 Page 6 of 19 B0098073CSF30017 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC 1,320,012.00 21,012.00 12,266.67 96,000.00 7.27% 2,340,000.00 229,394.88 18,208.33 142,500.00 6.08% 102.7500 107.5000 107.0000 300,000.00 111.3750 Original Cost Basis: $300,000.00 Security Identifier: 46625HHA1 2,687,500.00 110.1250 Original Cost Basis: $2,687,500.00 2,675,000.00 Original Cost Basis: $2,675,000.00 5,362,500.00 $5,362,500.00 Security Identifier: 060505DT8 2,055,000.00 110.6940 Original Cost Basis: $2,055,000.00 Security Identifier: 369622SN6 2,213,880.00 158,880.00 34,305.56 EFTA01470087 162,500.00 7.34% 110.1250 2,753,125.00 2,753,125.00 5,506,250.00 $5,506,250.00 65,625.00 78,125.00 143,750.00 $143,750.00 49,375.00 49,375.00 98,750.00 $98,750.00 197,500.00 197,500.00 395,000.00 $395,000.00 7.17% 7.17% 334,125.00 34,125.00 7,168.75 23,250.00 6.95% 3,255,000.00 260,990.54 93,750.00 187,500.00 5.76% Market Value Unrealized Gain/Loss Accrued Interest Estimated Annual Income Estimated Yield EFTA01470088 Statement Period: 07/01/2014 - 07/31/2014 Portfolio Holdings (continued) U.S. DOLLARS (continued) Date Acquired Quantity Unit Cost Fixed Income (continued) Corporate Bonds (continued) 5LLOYDS BANKING GROUP PLC FXD RATE RESET ADDL TIER 1 SECS ISIN#US539439AG42 7.500% 09/27/88 B/E DTD 04/07/14 S & P Rating 881,903,000.000 Please Provide * Total Corporate Bonds 27,843,000.000 Total Fixed Income 33,633,000.000 Date Acquired Equities Common Stocks APOLLO GLOBAL MGMT LLC CL A SHS Dividend Option: Cash 03/29/11 *,13 APPLE INC COM Dividend Option: Cash 10/28/13 02/14/12 *,13 01/24/13 *,13 Total Noncovered Total 01/16/01 *,3 14,000.000 ARIAD PHARMACEUTICALS INC Dividend Option: Cash 7,535.000 9,000.000 16,535.000 16,535.000 ASCENA RETAIL GROUP INC COM Dividend Option: Cash 70,500.000 21.2770 15.2090 19.6000 75.5800 263,157 000 19.0000 Security Identifier: APO CUSIP: 037612306 4,999,983.00 1,058,120.50 EFTA01470089 114,597.40 176,400.00 290,997.40 $290,997.40 Security Identifier: ASNA CUSIP: 04351G101 1,500,000.00 16.0600 B0098073CSF30017 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC 1,132,230.00 -367,770.00 Page 7 of 19 26.2600 Security Identifier: AAPL CUSIP: 037833100 95.6000 Security Identifier: ARIA CUSIP: 04033A100 5.7600 5.7600 43,401.60 51,840.00 95,241.60 $95,241.60 -71,195.80 -124,560.00 -195,755.80 -$195,755.80 $0.00 1,338,400.00 280,279.50 26,320.00 1.96% 6,910,502.82 1,910,519.82 1,118,417.25 16.18% Quantity Unit Cost Cost Basis Market Price Market Value Unrealized Gain/Loss Estimated Annual Income Estimated Yield $28,197,737.65 Adjusted EFTA01470090 Cost Basis Market Price Security Identifier: 539439AG4 N/A Please Provide 105.0000 Original Cost Basis: Please Provide $26,631,837.52 1,998,150.00 $30,111,117.00 $31,682,878.06 N/A $1,481,129.48 $1,486,990.41 13,083.13 $498,916.33 $506,889.38 142,725.00 $1,702,800.00 $1,702,800.00 7.14% Market Value Unrealized Gain/Loss Accrued Interest Estimated Annual Income Estimated Yield EFTA01470091 Portfolio Holdings (continued) U.S. DOLLARS (continued) Date Acquired Equities (continued) Common Stocks (continued) BANK OF NEW YORK MELLON CORP COM Dividend Option: Cash 06/25/14 BIOGEN IDEC INC COM Dividend Option: Cash 02/14/12 *,13 FACEBOOK INC CL A Dividend Option: Cash 05/17/12 *,13 01/13/14 GENERAL ELECTRIC CO COM Dividend Option: Cash 04/23/13 *,13 GENERAL MTRS CO COM Dividend Option: Cash 11/18/10 * 12/09/10 * Total Noncovered Total GILEAD SCIENCES INC Dividend Option: Cash 02/05/14 03/07/14 Total Covered Total 5,000.000 3,100.000 8,100.000 8,100.000 JP MORGAN CHASE & CO COM ISIN#US46625H1005 Dividend Option: Cash 07/14/05 *,3,12 05/28/13 *,13 79.2810 79.6120 10,988.200 86,536.800 97,525.000 97,525.000 36.4010 36.8160 23,000.000 21.5700 17,500.000 FOUNDATION MEDICINE INC COM EFTA01470092 Dividend Option: Cash 25,000.000 27.5070 38.0000 2,095.000 119.5490 250,000.000 36.3060 Security Identifier: BK CUSIP: 064058100 9,076,406.00 250,454.95 665,000.00 687,663.50 496,109.08 399,978.16 3,185,969.22 3,585,947.38 $3,585,947.38 Security Identifier: GILD CUSIP: 375558103 396,407.00 246,797.00 643,204.00 $643,204.00 Security Identifier: 3PM CUSIP: 46625H100 11,603.000 SANGAMO BIOSCIENCES INC COM Dividend Option: Cash 50,000.000 SANTANDER CONSUMER USA HLDGS INC COM Dividend Option: Cash B0098073CSF30017 8.4440 488.4840 5,667,884.94 422,214.00 57.6700 Security Identifier: SGMO CUSIP: 800677106 11.8800 Security Identifier: SC CUSIP: 80283M101 Page 8 of 19 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC 594,000.00 171,786.00 669,145.01 -4,998,739.93 EFTA01470093 18,564.80 2.77% 91.5500 91.5500 457,750.00 283,805.00 741,555.00 $741,555.00 61,343.00 37,008.00 98,351.00 $98,351.00 $0.00 39.0400 Security Identifier: BIIB CUSIP: 09062X103 334.3900 Security Identifier: FB CUSIP: 30303M102 72.6500 Security Identifier: FMI CUSIP: 350465100 22.5200 Security Identifier: GE CUSIP: 369604103 25.1500 Security Identifier: GM CUSIP: 37045V100 33.8200 33.8200 371,620.93 2,926,674.57 3,298,295.50 $3,298,295.50 -28,357.23 -259,294.65 -287,651.88 -$287,651.88 13,185.84 103,844.16 117,030.00 $117,030.00 3.54% 3.54% 578,450.00 82,340.92 20,240.00 3.49% 563,000.00 -124,663.50 1,271,375.00 EFTA01470094 606,375.00 700,547.05 450,092.10 9,760,000.00 683,594.00 170,000.00 1.74% Quantity Unit Cost Cost Basis Market Price Market Value Unrealized Gain/Loss Estimated Annual Income Estimated Yield EFTA01470095 Statement Period: 07/01/2014 - 07/31/2014 Portfolio Holdings (continued) U.S. DOLLARS (continued) Date Acquired Equities (continued) Common Stocks (continued) SANTANDER CONSUMER USA HLDGS INC COM (continued) 01/23/14 1,000.000 TWITTER INC COM Dividend Option: Cash 11/07/13 Total Common Stocks Preferred Stocks (Listed by expiration date) ALLY FINL INC PERP PFD FIXED/FLTG RATE SER A CALLABLE COUPON 8.5% PERPETUAL MATURITY CALL@25 05/15/16 Dividend Option: Cash 02/03/12 *,13 02/09/12 *,13 46,600.000 80,000.000 Total Noncovered Total 126,600.000 126,600.000 GMAC CAP TR I GTD TR PFD SECS SER 2 8 125% FIXED RATE / FLTG Dividend Option: Cash 02/22/12 *,13 80,000.000 1,500.000 26.0000 24.0000 24,000.00 39,000.00 $29,406,984.75 Security Identifier: ALLY PRB CUSIP: 02005N308 19.3820 20.1250 903,217.51 1,610,000.00 2,513,217.51 $2,513,217.51 Security Identifier: ALLY PRA CUSIP: 361860208 23.5350 ROYAL BANK SCOTLAND GROUP PLC SPON ADR REPSTG SER T PDF SHS COUPON 7.25% PERPETUAL MATURITY CALL@25 05/14/14 EFTA01470096 Dividend Option: Cash 10/24/12 *,13 01/07/13 *,13 01/14/13 *,13 40,000.000 40,000.000 40,000.000 Total Noncovered Total Total Preferred Stocks 120,000.000 120,000.000 1,882,773.60 27.1800 Security Identifier: RBS PRT CUSIP: 780097713 23.7900 24.4400 24.8800 951,600.00 977,600.00 995,200.00 2,924,400.00 $2,924,400.00 $7,320,391.11 25.1700 25.1700 25.1700 1,006,799.99 1,006,799.99 1,006,800.02 3,020,400.00 $3,020,400.00 $8,629,458.00 55,199.99 29,199.99 11,600.02 96,000.00 $96,000.00 $1,309,066.89 72,500.00 72,500.00 72,500.00 217,500.00 $217,500.00 $649,025.00 Page 9 of 19 B0098073CSF30017 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC 7.20% EFTA01470097 7.20% 7.20% 2,174,400.00 291,626.40 162,500.00 7.47% 27.1300 27.1300 1,264,258.01 2,170,399.99 3,434,658.00 $3,434,658.00 361,040.50 560,399.99 921,440.49 $921,440.49 99,025.00 170,000.00 269,025.00 $269,025.00 7.83% 7.83% 19.1700 Security Identifier: TWTR CUSIP: 90184L102 45.1900 67,785.00 $27,739,696.98 28,785.00 -$1,667,287.77 $1,471,172.05 19,170.00 -4,830.00 600.00 3.12% Quantity Unit Cost Cost Basis Market Price Market Value Unrealized Gain/Loss Estimated Annual Income Estimated Yield EFTA01470098 Portfolio Holdings (continued) U.S. DOLLARS (continued) Date Acquired Equities (continued) Options CALL 100 AMERICAN AIRLS GROUP INC COM EXP [email protected] OPTION ROOT= AAL 1,000.00 of these contracts are in your margin account 12/11/13 * 1,000.000 PUT 100 AMERICAN AIRLS GROUP INC COM EXP [email protected] OPTION ROOT= AAL -1,000.00 of these contracts are a short position 12/11/13 * -1,000.000 Total Options Total Equities Date Acquired Quantity Unit Cost Exchange-Traded Products WISDOMTREE TR JAPAN HEDGED EQUITY FD Dividend Option: Cash; Capital Gains Option: Cash 60,000.00 of these shares are in your margin account 60,000.000 12/11/13 Total Exchange-Traded Products Total U.S. DOLLARS EURO Description Cash, Money Funds, and Bank Deposits Global Cash Balance Total Cash, Money Funds, and Bank Deposits Total EURO B0098073CSF30017 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC 8.0330 Option Identifier: 99QADTZJJ Underlying Security Identifier: AAL Underlying Security Price: $38.85 803,314.50 18.7000 1.9770 Option Identifier: 99QADTZQO Underlying Security Identifier: AAL Underlying Security Price: $38.85 -197,702.00 $605,612.50 0.0500 $37,332,988.36 EFTA01470099 Cost Basis Market Price Security Identifier: DXJ CUSIP: 97717W851 49.4350 2,966,098.50 $2,966,098.50 Cost Basis $98,826,795.25 Quantity Opening Balance 291,846.67 291,846.67 49.9700 2,998,200.00 $2,998,200.00 Market Value $103,245,203.78 Closing Balance Currency 291,846.67 390,461.66 291,846.67 390,461.66 291,846.67 390,461.66 EUR USD EUR USD Market Value Currency EUR USD 0.00 0.00 Accrued Interest 0.00 0.00 Page 10 of 19 32,101.50 $32,101.50 Unrealized Gain/Loss $2,420,258 53 Accrued Interest $506,889.38 Accrued Income EFTA01470100 55,004.40 $55,004.40 Estimated Annual Income $3,883,464.43 30-Day Yield 1.83% Quantity Unit Cost Cost Basis Market Price Market Value Unrealized Gain/Loss Estimated Annual Income Estimated Yield 1,870,000.00 1,066,685.50 -5,000.00 192,702.00 $1,865,000.00 $38,234,154.98 Market Value $1,259,387.50 $901,166.62 Unrealized Gain/Loss $0.00 $2,120,197.05 Estimated Annual Income Estimated Yield EFTA01470101 Statement Period: 07/01/2014 - 07/31/2014 Portfolio Holdings (continued) Cost Basis Total Portfolio Holdings - U.S. DOLLARS Footnotes * Noncovered under the cost basis rules as defined below. Securities acquired before 2011 are generally not subject to the new cost basis reporting rules set forth in the Internal Revenue Code of 1986, as amended ("IRC") (incorporating amendments enacted by P.L.110-343, the Emergency Economic Stabilization Act of 2008) and are, therefore, considered " noncovered," under the new cost basis reporting rules, and marked or denoted as such. All other securities in this section are securities which are "covered" under the new cost basis reporting rules. Securities which are "covered" under the new cost basis reporting rules are defined as securities which have been acquired on or after their "applicable date(s)" at which they are subject to the cost basis reporting rules and the adjusted basis will be reported to the IRS on form 1099-B for the applicable tax year in which the security is disposed. Reporting requirements generally will be phased in over a three-year period, as follows: • Stock in a corporation acquired on or after January 1, 2011 • Mutual funds and dividend reinvestment plan (DRP) shares acquired on or after January 1, 2012 • Other securities, principally debt securities and options, acquired on or after January 1, 2014, or later, as determined by the Secretary of the Treasury. Cost Basis on fixed income securities is adjusted for amortization, accretion or principal paydowns. The method of calculation is based upon the type of fixed income security and certain attributes, obtained from sources believed to be reliable. In the event, one or more of these attributes is changed, there may be a temporary incorrect adjusted cost basis reflected until the portfolio system is amended to reflect this change. These calculations will not be performed under certain circumstances, including those involving continuously callable bonds, foreign bonds, variable rates, bonds in default, index-linked bonds, bonds sold short or bonds that have a negative yield. This information is meant as a general guide and you should consult your tax advisor in the preparation of your tax returns. 1 This bond is maturing. 3 The cost basis of this security has been provided to us by you or your introducing firm and Pershing makes no representation as to the accuracy of this information. 5 Unrealized gains and losses are not reported for securities for which cost basis or market value is not available. 6 The Current Face value represents the outstanding principal balance of the underlying security. The Current Face value is determined by multiplying the current factor times the original face amount of the security. Factors may change over time and are obtained from sources we EFTA01470102 believe to be reliable. 12 Pershing has received updated cost basis information, therefore cost basis provided on previous client brokerage statements may differ from the new cost basis reported in this section. 13 The cost basis of this security has been provided to us by the delivering firm or transferring agent and Pershing makes no representation as to the accuracy of this information. $98,826,795.25 Market Value $103,635,665.44 Unrealized Gain/Loss $2,420,258.53 Accrued Interest $506,889.38 Estimated Annual Income $3,883,464.43 Page 11 of 19 60098073CSF30017 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC EFTA01470103 Holdings Summary by Currency Currency Cash U.S. DOLLARS EURO Total USD Equivalent % of Allocation 30,329,970 291,846 30,720,432 29.64% Fixed Income 31,682,878 0 31,682,878 30.57% Equities 38,234,154 0 38,234,154 36.90% Schedule of Realized Gains and Losses Current Period Description Disposition Date Short Term 07/23/14 Acquisition Date 12/13/13 * Disposition Transaction RPP WASHINGTON MUT MTG S 004-RA2 MTG PASSTHRU CTF CL C- B-1 VAR RATE 6.973% 07/25/33 Security Identifier: 939336S20 Original Cost Basis: 36,473.18 07/25/14 12/13/13 * RPP Total Short Term Long Term 07/16/14 07/16/14 07/14/05 * 01/24/13 * SELL First In First Out RDMG First In First Out 07/23/14 EFTA01470104 07/14/05 * Total Long Term Total Short Term and Long Term * Noncovered under the cost basis rules as defined below. Securities acquired before 2011 are generally not subject to the new cost basis reporting rules set forth in the Internal Revenue Code of 1986, as amended ("IRC") (incorporating amendments enacted by P.L.110-343, the Emergency Economic Stabilization Act of 2008) and are, therefore, considered "noncovered," under the new cost basis reporting rules, and marked or denoted as such. All other securities in this section are securities which are "covered" under the new cost basis reporting rules. Securities which are "covered" under the new cost basis reporting rules are defined as securities which have been acquired on or after their "applicable date(s)" at which they are subject to the cost basis reporting rules and the adjusted basis will be reported to the IRS on form 1099-B for the applicable tax year in which the security is disposed. SELL First In First Out JP MORGAN CHASE & CO US46625H1005 Security Identifier: JPM 13SERVICEMASTER CO SR FULLY EXCHANGED FROM OLD CUSI P 81760NAL3 8.000% 02/15/20 B Security Identifier: 81760NAN9 Original Cost Basis: 1,110,189.67 JP MORGAN CHASE & CO US46625H1005 Security Identifier: JPM 1,450.000 1,060,000.000 COUNTRYWIDE HOME LOA 1 CL B1 4.090% 03/25/33 B/E D TD 01/30/03 Security Identifier: 12669DYS1 Original Cost Basis: 11,134.89 $47,608.07 708,302.44 1,110,189.67 $59,590.49 85,299.96 1,144,800.00 $11,982.42 -623,002.48 34,610.33 Exchange-Traded Funds Total by Currency 2,998,200 0 2,998,200 2.89% 103,245,203 USD 291,846 EUR EFTA01470105 103,635,665 USD 100.00% Quantity 1,290,000.000 Cost Basis Proceeds 36,473.18 47,665.76 Realized Gain/Loss/ Disallowance 11,192.58 4,500,000.000 11,134.89 11,924.73 789.84 1,450.000 708,302.44 85,418.86 $2,526,794.55 $2,574,402.62 $1,315,518.82 $1,375,109.31 -622,883.58 -$1,211,275.73 -$1,199,293.31 Page 12 of 19 B0098073CSF30017 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC EFTA01470106 Statement Period: 07/01/2014 - 07/31/2014 Schedule of Realized Gains and Losses Current Period (continued) Reporting requirements generally will be phased in over a three-year period, as follows: • Stock in a corporation acquired on or after January 1, 2011 • • Mutual funds and dividend reinvestment plan (DRP) shares acquired on or after January 1, 2012 Other securities, principally debt securities and options, acquired on or after January 1, 2014, or later, as determined by the Secretary of the Treasury. This Schedule may not reflect all cost basis adjustments necessary for tax reporting purposes, especially for noncovered securities. Adjustments to cost basis may have been made for prior income received and subsequently reclassified by the issuer as a return of capital. In addition, corporate action events may require adjustments to your original cost basis. Return of capital information and cost basis information, as it relates to corporate actions, has been obtained from sources we believe to be reliable. Adjustments to cost basis can be made after year-end, in particular, for return of capital adjustments, but may also include adjustments for corporate action events. Therefore there may be differences in cost basis reflected on your monthly client brokerage statement at year end versus any subsequent reports, including your 1099-B or online displays you may have available to you. When you report your cost basis on your tax return, it should be verified using all of your own records. In particular, there may be other adjustments which you need to make, but are not required to be made by Pershing as it relates to H.R. 1424. You should consult with your tax advisor in order to properly report your gain or loss for tax purposes. Pershing shall not be responsible for and makes no representations or warranties with respect to the accuracy of any information that you report to the IRS or other taxing authorities, and, accordingly, disclaims any and all liability that may arise with respect to your use and reliance on the information provided herein for such reporting. Cost Basis on fixed income securities is adjusted for amortization, accretion or principal paydowns. The method of calculation is based upon the type of fixed income security and certain attributes, obtained from sources believed to be reliable. In the event, one or more of these attributes is changed, there may be a temporary incorrect adjusted cost basis reflected until the portfolio system is amended to reflect this change. These calculations will not be performed under certain circumstances, including those involving continuously callable bonds, foreign bonds, variable rates, bonds in default, index-linked bonds, bonds sold short or bonds that have a negative yield. This information is meant as a general guide and you should consult your tax advisor in the preparation of your tax returns. 13 The cost basis of this security has been provided to us by the delivering EFTA01470107 firm or transferring agent and Pershing makes no representation as to the accuracy of this information. Please refer to the Your Account Information Section in your brokerage account statement for your account's existing tax-lot disposition method. The disposition method is the method which you have selected to use in the disposal of each tax lot of the securities held in your account. If you do not select a method, your account will be defaulted to First In, First Out (FIFO). Your account's selected tax lot method will be used to determine the cost basis for calculating gain and/or loss, unless another method was selected at the time of the security disposal, and this may be reported on the IRS Form 1099-B. Messages Although a money market mutual fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in a money market mutual fund. Shares of a money market mutual fund or the balance of a bank deposit product held in your brokerage account may be liquidated upon request with the proceeds credited to your brokerage account. Please see the money market mutual fund's prospectus or the bank deposit product's disclosure document or contact your advisor for additional information. Federal Deposit Insurance Corporation (FDIC)-Insured Bank Deposits are not protected by Securities Investor Protection Corporation.(SIPC). For disclosure of rates for DWS money market funds, please visit the DWS Investments website at https://www.dws-investments.com/EN/products/money- market-funds-yields.jsp. Please note that all money market funds listed on the website may not be offered through us. Deutsche Bank has combined its asset and wealth management operationsaincluding Deutsche Bank Alex. Brownainto a single division operating under the Deutsche Asset & Wealth Management brand and future communications will reflect this change. Your account will continue to be serviced by and securities will continue to be offered through Deutsche Bank Securities Inc., a registered broker-dealer and investment adviser, which conducts investment banking and securities activities in the United States. Deutsche Bank Securities Inc. is a member of FINRA, NYSE and SIPC. The new brand name has no effect on your account. Your portfolio and holdings will not change as a result of the rebranding. Page 13 of 19 B0098073CSF30017 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC EFTA01470108 Activity Summary (All amounts shown are in base currency) Credits Securities Securities Bought Securities Sold Total Securities Dividends and Interest Distributions Fees Cash Withdrawals Deposits Total Cash FDIC Insured Bank Deposits Money Market Funds Total Credits Transactions by Type of Activity Process/ Settlement Date Trade/ Transaction Date Activity Type Securities Bought and Sold 07/21/14 07/16/14 SOLD JPM 07/28/14 07/23/14 SOLD JPM Dividends and Interest 07/16/14 07/25/14 07/25/14 Description JP MORGAN CHASE & CO COM ISIN#US46625H1005 BKCM A PERSHING AFFILIATE MAKES A MKT IN THIS SECURITY & ACTED AS PRINCIPAL UNSOLICITED ORDER JP MORGAN CHASE & CO COM ISIN#US46625H1005 BKCM A PERSHING AFFILIATE MAKES A MKT IN THIS SECURITY & ACTED AS PRINCIPAL UNSOLICITED ORDER Total Securities Bought and Sold - UNITED STATES DOLLAR BOND INTEREST RECEIVED 81760NAN9 BOND INTEREST RECEIVED 12669DYS1 CASH DIVIDEND RECEIVED GE SERVICEMASTER CO SR NT - CUSIP FULLY EXCHANGED FROM OLD CUSIP 81760NAL3 8.000% 02/15/20 B/E DTD EFTA01470109 02/13/12 CLB ACCRUED INTEREST 4500000 COUNTRYWIDE HOME LOANS SER 03-1 CL B1 4.090% 03/25/33 B/E DTD 01/30/03 RD 06/30 PD 07/25/14 23000 SHRS GENERAL ELECTRIC CO COM RD 06/23 PD 07/25/14 Quantity -1,450.000 -1,450.000 Price 58.8930 58.9750 0.00 Accrued Interest Amount Currency 85,299.96 USD 85,418.86 USD 170,718.82 35,568.89 USD 5,156.18 USD 5,060.00 USD 0.00 170,718.82 $170,718.82 $56,959.99 $1,202,570.13 $0.00 0.00 344,637.50 $344,637.50 $0.00 $170,018.00 $1,944,904.44 0.00 17,438,218.86 $17,438,218.86 $1,566,713.70 $2,117,116.97 $0.00 0.00 11,168,787.15 $11,168,787.15 $37,486,437.18 $9,127,577.13 $78,904,850.99 This Period Year-to-Date Debits This Period Securities Securities Bought Securities Sold EFTA01470110 Total Securities Dividends and Interest Distributions Fees Cash Withdrawals Deposits Total Cash FDIC Insured Bank Deposits Money Market Funds Total Debits 0.00 0.00 $0.00 $0.00 $0.00 -$18.00 -170,000.00 0.00 -$170,000.00 $0.00 -$1,769,085.24 -$1,939,103.24 -19,214,895.09 0.00 -$19,214,895.09 -$93,807.51 $0.00 -$54.00 -1,058,245.00 0.00 -$1,058,245.00 -$19,304,764.85 -$39,451,746.67 -$79,123,513.12 Year-to-Date Page 14 of 19 B0098073CSF30017 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC EFTA01470111 Statement Period: 07/01/2014 - 07/31/2014 Transactions by Type of Activity (continued) Process/ Settlement Date Trade/ Transaction Date Activity Type Dividends and Interest (continued) 07/25/14 07/31/14 07/31/14 Distributions 07/16/14 07/25/14 07/25/14 BOND INTEREST RECEIVED 939336S20 MONEY MARKET FUND INCOME RECEIVED 233993682 CASH DIVIDEND RECEIVED JPM Total Dividends and Interest - UNITED STATES DOLLAR SECURITY REDEEMED 81760NAN9 RETURN OF PRINCIPAL RECEIVED 12669DYS1 RETURN OF PRINCIPAL RECEIVED 939336S20 Total Distributions - UNITED STATES DOLLAR Fees 07/01/14 07/01/14 07/01/14 FOREIGN CUSTODY FEE G4S15PP48 FOREIGN CUSTODY FEE G5433BBG8 FOREIGN CUSTODY FEE P7807HAF2 Total Fees - UNITED STATES DOLLAR Fgn Safekeeping JUN 2014 CUSIP: G4S15P-P4-8 Fgn Safekeeping JUN 2014 CUSIP: G54338-8G-8 Fgn Safekeeping JUN 2014 CUSIP: P7807H-AF-2 0.00 SERVICEMASTER CO SR NT - CUSIP FULLY EXCHANGED FROM OLD CUSIP 81760NAL3 8.000% 02/15/20 B/E DTD EFTA01470112 02/13/12 CLB CALLED BY LOTTERY 4500000 COUNTRYWIDE HOME LOANS SER 03-1 CL B1 4.090% 03/25/33 B/E DTD 01/30/03 RD 06/30 PD 07/25/14 1290000 WASHINGTON MUT MTG SECS CORP 2004-RA2 MTG PASSTHRU CTF CL C-B-1 VAR RATE 6.973% 07/25/33 B/E DTD 06/01/04 RD 06/30 PD 07/25/14 0.00 -1,060,000.000 Description 1290000 WASHINGTON MUT MTG SECS CORP 2004-RA2 MTG PASSTHRU CTF CL C-B-1 VAR RATE 6.973% 07/25/33 B/E DTD 06/01/04 RD 06/30 PD 07/25/14 DWS GOVT CASH INSTL 14503 SHRS JP MORGAN CHASE & CO COM ISIN#US46625H1005 RD 07/03 PD 07/31/14 0.00 Quantity Price Accrued Interest Amount Currency 4,623.08 USD 750.64 USD 5,801.20 USD 56,959.99 1,144,800.00 USD 11,924.73 USD 45,845.40 USD 1,202,570.13 -6.00 USD -6.00 USD -6.00 USD -18.00 Page 15 of 19 B0098073CSF30017 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC EFTA01470113 Transactions by Type of Activity (continued) Process/ Settlement Date Trade/ Transaction Date Activity Type Cash Withdrawals and Deposits 07/09/14 07/11/14 Money Market Funds 07/02/14 07/09/14 07/14/14 07/16/14 07/17/14 07/21/14 07/28/14 07/31/14 CUSTOMER AUTHORIZED TRANSFER USD999997 FEDERAL FUNDS RECEIVED USD999997 MONEY FUND REDEMPTION USD999997 MONEY FUND REDEMPTION USD999997 MONEY FUND PURCHASE USD999997 MONEY FUND PURCHASE USD999997 MONEY FUND PURCHASE USD999997 MONEY FUND PURCHASE USD999997 MONEY FUND PURCHASE USD999997 MONEY MARKET FUND REINVESTMENT 233993682 Total Money Market Funds - UNITED STATES DOLLAR Total Value of Transactions The price and quantity displayed may have been rounded. Cash Not Yet Received Security Dividends BANK OF NEW YORK MELLON CORP COM Interest SERVICEMASTER CO SR NT - CUSIP FULLY EFTA01470114 EXCHANGED FROM OLD Total Cash Not Yet Received 07/29/14 07/31/14 08/08/14 08/15/14 250,000.000 1,440,000.000 0.170000 0.040000 Cash Cash 42,500.00 57,600.00 $100,100.00 Description TRANS TO N4G-026161 DEUTSCHE BANK TRUST 33950 Total Cash Withdrawals and Deposits UNITED STATES DOLLAR DWS GOVT CASH INSTL DWS GOVT CASH INSTL DWS GOVT CASH INSTL DWS GOVT CASH INSTL DWS GOVT CASH INSTL DWS GOVT CASH INSTL DWS GOVT CASH INSTL DWS GOVT CASH INSTL INCOME REINVESTED 0.00 0.00 0.00 Quantity Price Accrued Interest Amount Currency -170,000.00 USD 344,637.50 USD 174,637.50 18.00 USD 170,000.00 USD -344,637.50 USD -1,144,800.00 USD -35,568.89 USD -85,299.96 USD -158,028.25 USD -750.64 USD -1,599,067.24 5,801.20 USD Record Date Payable Date Quantity Held Rate EFTA01470115 Dividend Option Amount of Payment Page 16 of 19 B0098073CSF30017 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC EFTA01470116 Statement Period: 07/01/2014 - 07/31/2014 Bond Maturity Schedule Bond Maturity Within 1 month 1 to 6 months 1 to 5 years 6 to 10 years Over 10 years Total Bond Quality Bond Quality BAA BA/Lower Not Rated Total Market Value 4,405,000.00 1,035,900.00 4,419,375.00 6,872,550.00 14,950,053.06 31,682,878.06 % of Bond Market Value 14% 3% 14% 22% 47% 100% Percentages of bond market values are rounded to the nearest whole percentage. Market Value 5,595,000.00 19,725,554.38 6,362,323.68 % of Bond Market Value 18% 62% 20% 31,682,878.06 100% Percentages of bond market values are rounded to the nearest whole percentage. Client Service Information Your Client Advisor: TDS Contact Information TAZIA SMITH 345 PARK AVENUE 14TH FLOOR NEW YORK NY 10154 Your Account Information EFTA01470117 Tax Lot Default Disposition Method Default Method for Mutual Funds: FIRST IN FIRST OUT Default Method for Stocks in a Dividend Reinvestment Plan: FIRST IN FIRST OUT Default Method for all Other Securities: FIRST IN FIRST OUT Electronic Delivery You have not selected any account communications for electronic delivery. To register and turn off paper communications, log in to your account or contact your Client Advisor for more information. Page 17 of 19 60098073CSF30017 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC Telephone Number: (212) 454-2889 EFTA01470118 Important Information and Disclosures Pricing This section includes the net market value of the securities in your account on a settlement date basis, including short positions, at the close of the statement period. The market prices have been obtained from sources which we believe to be reliable. Pershing may not use the closing price of the particular exchange or marketplace where your position was purchased as the "Market Price." Securities for which a price is not available are marked ""N/A"" and are omitted from the Total. THE AS OF PRICE DATE ONLY APPEARS WHEN THE PRICE DATE DOES NOT EQUAL THE STATEMENT DATE. Estimated Annual Figures The estimated annual income (EAI) and estimated annual yield (EAY) figures are estimates and for informational purposes only. These figures are not considered to be a forecast or guarantee of future results. These figures are computed using information from providers believed to be reliable; however, no assurance can be made as to the accuracy. Since interest and dividend rates are subject to change at any time, and may be affected by current and future economic, political, and business conditions, they should not be relied on for making investment, trading, or tax decisions. These figures assume that the position quantities, interest and dividend rates, and prices remain constant. A capital gain or return of principal may be included in the figures for certain securities, thereby overstating them. Refer to www.pershing.com/business_continuity.html for specific details as to formulas used to calculate the figures. Accrued interest represents interest earned but not yet received. Reinvestment The dollar amount of Mutual Fund distributions, Money Market Fund dividend income, Bank Deposit interest income, or dividends for other securities shown on your statement may have been reinvested. You will not receive confirmation of these reinvestments. Upon written request to your financial institution, information pertaining to these transactions, including the time of execution and the name of the person from whom your security was purchased, may be obtained. In dividend reinvestment transactions, Pershing acts as your agent and receives payment for order flow. Options Information with respect to commissions and other charges incurred in connection with the execution of option transactions has been included in confirmations previously furnished to you. A summary of this information is available to you promptly upon your written request directed to your introducing firm. In order to assist your introducing firm in maintaining current background and financial information concerning your option accounts, please promptly advise them in writing of any material change in your investment objectives or financial situation. Expiring options which are valuable are exercised automatically pursuant to the exercise by exception procedure of the Options Clearing Corporation. Additional information regarding this procedure is available upon written request to your introducing firm. Proxy Vote EFTA01470119 Securities not fully paid for in your margin account may be lent by Pershing to itself or others in accordance with the terms outlined in the Margin Agreement. The right to vote your shares held on margin may be reduced by the amount of shares on loan. The Proxy Voting Instruction Form sent to you may reflect a smaller number of shares entitled to vote than the number of shares in your margin account. Foreign Currency Transactions Pershing may execute foreign currency transactions as principal for your account. Pershing may automatically convert foreign currency to or from U.S. dollars for dividends and similar corporate action transactions unless you instruct your financial organization otherwise. Pershing's currency conversion rate will not exceed the highest interbank conversion rate identified from customary banking sources on the conversion date or the prior business day, increased by up to 1%, unless a particular rate is required by applicable law. Your financial organization may also increase the currency conversion rate. This conversion rate may differ from rates in effect on the date you executed a transaction, incurred a charge, or received a credit. Transactions converted by agents (such as depositories) will be billed at the rates such agents use. Ratings This statement may contain credit rating information obtained from Standard & Poor's. Reproducing and distributing any information received from Standard & Poor's is not permitted without prior written authorization from Standard & Poor's. Standard & Poor's does not guarantee the accuracy, completeness, timeliness or availability of any information. Standard & Poor's is not responsible for any errors or omissions, regardless of the cause, or for the results of using such content. Standard & Poor's makes no express or implied warranties including warranties of merchantability or fitness for a particular purpose. Standard & Poor's shall not be legally responsible for any fees, costs, expenses or losses in connection with the use of their content. Credit ratings are opinions and not statements of facts; are not recommendations to purchase, hold or sell securities; and do not address suitability for investment purpose. Credit ratings should not be relied upon as investment advice. Cash Not Yet Received Assets shown here are not reflected in your account. This information has been received from sources we believe to be reliable. Pershing does not guarantee the accuracy of the information. Bond Maturity Schedule Bonds that are in default are not included. Bond Quality Bond quality ratings reflect Moody's or Standard and Poor's ratings. Bonds may be rated by other services. Bonds that are in default are not included. Please refer to your Portfolio Holdings section. Page 18 of 19 B0098073CSF30017 Account Number: N4G-023804 SOUTHERN FINANCIAL LLC EFTA01470120 Statement Period: 07/01/2014 - 07/31/2014 Important Information and Disclosures (continued) The Role of Pershing • • • • Pershing carries your account as clearing broker pursuant to a clearing agreement with your financial institution. Pershing may accept from your financial institution without inquiry or investigation (i) orders for the purchase and sale of securities and other property and (ii) any other instructions concerning your account. Pershing is not responsible or liable for any acts or omissions of your financial institution or its employees and it does not supervise them. Pershing provides no investment advice nor does it assess the suitability of any transaction or order. Pershing acts as the agent of your financial institution and you agree that you will not hold Pershing or any person controlling or under common control with it liable for any investment losses incurred by you. Pershing performs several key functions at the direction of your financial institution. It acts as custodian for funds and securities you may deposit with it directly or through your financial institution or that it receives as the result of securities transactions it processes. Your financial institution is responsible for adherence to the securities laws, regulations and rules which apply to it regarding its own operations and the supervision of your account, its sales representatives and other personnel. Your financial institution is also responsible for approving the opening of accounts and obtaining account documents; the acceptance and, in certain instances, execution of securities orders; the assessment of the suitability of those transactions, where applicable; the rendering of investment advice, if any, to you and in general, for the ongoing relationship that it has with you. Inquiries concerning the positions and balances in your account may be directed to the Pershing Customer Service Department at (201) 413-3333. All other inquiries regarding your account or activity should be directed to your financial institution. Your financial organization's contact information can be found on the first page of this statement. For a description of other f