EFTA00811897.pdf

Valuation Report 9/30/2018 EFTA00811897  SUMMARY OF ASSETS - SEPTEMBER 30, 201 8/31/18 9/30/18 $ Asset Value Value Change Cash 101,512,764 84,251,574 (17,261,190) Fixed Income 61,437,427 64,959,055 3,521,628 Equities 141,426,424 144,578,820 3,152,396 Equity ETF's 875,160 0 (875,160) Options 168,553 0 (168,553) Hedge Funds 100,411,249 109,368,930 8,957,681 Investments 52,492,187 52,242,187 (250,000) Aviation, Automobiles & Boats 18,350,000 18,350,000 - Loans Receivable 16,039,472 16,124,472 85,000 Fine Arts, Antiques & Jewelry 9,900,000 9,900,000 - Loan Payable - BJAV (30_500,000) (30,500.000) - Total Assets 472,113,236 469,275,038 -2,838,198 Cash Activity - Items over 50,000 ML -STC sold 82,000 shares XLF @ 27.98 2,294,535 ML- STC sold 7,066 shares AGN @ 192.53 1,360,100 DB - SFL sold 13,000 shares South Korea ETF @ 67.77 880,276 18 -SIC sold 22,000 shares XLF @ 27.98 615,560 Dividends, Interest Income & Other Distributions 338,000 IB -STC sold 10,000 shares XLF @ 27.98 279,800 DB - sold 2/10 yield curve option I 141,000 DB - Haze sold 25,000 sharies Bombardier @ 4.73 CAD 90,435 Plan D LLC - DU Flat Panel (to be refunded less 15% restocking) (80,000) Loan - David Mitchell (85,000) Zorro - Paving Additional Deposit (99,723) Legal Fees - Link (100,000) LSJE LLC - Car Mixer Cement Truck (110,930) GSJ - RO 50% deposit (118,410) MS - Gratitude bought 10.000 shares CTL p 21.18 (211,827) MS -Gratitude bought 250,000 GM 6.5% preferred @ 100 (250,000) MS - Gratitude bought 10,0001PM 5.75% preferred @ 25 (250,000) Miscellaneous 1I 11 (319,529) MS - Gratitude bought 10,000 shares MSFT @ 111.33 (1,113,298) Monthly Spending I I (1,350,000) DB - Bought 2.5mm COFP 4.407 8/2019 Euro Bond (2,921,428) Honeycomb 8,000,000 additional subscription as of 10-1-2018 (8,000,000) ML - STC bought 125,000 shares CVNA @ 66.01 (8,250,750) Total Cash Activity - Items over 50,000 (17,261,190) EFTA00811898  Deutsche First Banco Pop Wells Morgan bowsaws To BNP Paribas Fargo Merrill Stanley Brokers Ameritrada Totals Asset Description Bank Bank Cash 28,816.308 Haze Trust 28.816,308 299,452 3,761,389 5.738.174 14,591,946 Southern Trust Company Inc. 4,230,269 562,662 13,548.085 The 2017 Calendar Trust 13,548.085 100.4134 5.282,498 13,381,975 Southern Financial LLC 7.998.993 182,445 49,770 3.956.555 JEE 3.724,340 1.248805 3,744,020 Gratitude America, Ltd. 2,339,529 156,408 1,506,920 Jeepers Inc. 1,499,911 7.009 303.849 1,083,444 LSJE LLC 214.598 564.997 705,802 Butterfly Trust 705,802 382,485 FT Real Estate 382.485 366,851 Neptune LLC 386.851 361.849 361.849 Southern Country International LTD 267,017 Zorro Management LLC 267.017 255.685 JEGE LLC 255.685 225,445 Plan D LLC 225,445 216,829 Laurel Inc. 216,829 186.275 186,275 JEE • Paris (US 5) 148,081 NES LLC 148.081 147.204 Hyperion Air LLC 147.204 88,328 Thomas World Air LLC 88.328 66,557 Enhanced Education 12,208 54,349 54.587 54.587 Nautilus Inc. 31,484 Maple Inc. 31,484 27.465 Cypress Inc. 27.465 26,796 JEGE Inc. 26,796 24.733 Michel1es Transportation Co LLC 24.733 22,512 Freedom Air Petroleum 22,512 6.000 Great St Jim LLC 6.000 5,150 LSJ LLC 5.150 4.553 Mon Inc 4,553 337 FSF LLC 337 206 The JEE Life Ins Trust #3 206 90 IGO Company LLC 90 535,497 303,849 3,761,389 1,248,085 5,838,658 5,282,498 84,251,574 Total Cash 64,531,881 2,749,717 EFTA00811899  Purchase Quantity 8/31118 9130118 Unrealized Asset Description Symbo Date Cost Value Value Gain (Loss) FIXED INCOME Haze Trust - Fixed Income (DB) Citbank Preferred Ser K 6.875% 2/3/14 79,000 1.999.419 2.188.300 2,192.250 192.831 JBS Investments 7.75% October 28 2020 5/18/18 2,000,000 2.046,231 2,084,548 2,106,224 59,993 JP Morgan Chase 7.9% Pfd 4/30/2049 05/10/11 3.000,000 3.337.958 3.036.541 3,042,861 -295,097 JP Morgan Floating Rale Income fund 01/22/13 252,521 2,521.575 2.357.402 2.373.702 -147.873 TotalHaze Trust • Fixed Income (DB) 9,905,183 9,666,791 9,715,037 -190,146 JeeperS - Fixed Income (DE) JPM Fbaung Rate Income fund 02/13/13 189,166 1.879,415 1.765.946 1.778.158 -101.259 Total Jeepers - Fixed Income (OB) 1,879,415 1,765,946 1,778,156 -101,259 Income 'GM Financial 6.5% Ned to 9/30/18 Floats thereafter 9/24/18 250.000 250,000 245583 -4,417 JP Morgan Preformed 5.75% JPM.D 9/19/18 10,000 250,000 - 253,100 3,100 Frontier Communications 7.125% Matures 3/15/2019 10/02117 1,000,000 997 32Z 1036 604 1 009 269 11 947 Total Gratitude America -Fixed Income (Morgan Stanley) 1,497,322 1,036,604 1,507,952 10,630 Southern Trust Co. - Fixed Income (DB) Buckeye Partners Fixed to Float 8.375% Callable 1/22/23 1125/18 1,000,000 1,018,741 958.286 961 142 -57 599 Total Southern Trust Co. - Fixed Income (DB) 1,918,741 958,286 961,142 -57,599 Southern Trust Co. • Fixed income (Merril° Bank of America 5.88% Pfd 12-31-2049 03/08/18 1,000,000 1.000.000 1,000.000 990,111 -9,889 LSC Communications Inc. 8.75% 10/15/2023 01/13/17 2,650,000 2,773,650 2 704 472 2 779 420 5 770 Total Southern Trust Co. - Fixed Income (Merrill) 3,773,650 3,704,472 3,769,531 4 119 Southern Trust Co. - FixedIncome (Interactive Brokers) Capital One 5.55% Fixed to 9.1.2020 then 380 over 3 mo tor 5/14/15 3,000,000 3,009,819 3.093,000 3,076,890 67,072 Planes Schwab 6.0% Preferred $25 par 7127/15 40,000 1,000,000 1,044,400 1,027,200 27,200 Etrade Fit-rancid 5.875% fixed to 9-15-2026 then Goats 10/11/16 3,000,000 3,123,122 3,093,750 3,101,250 -21,872 Gokeren Sachs 5375% Fixed to 5-10-2020 then 392.2 over 3 no litior 614/15 5,000,000 5,034.346 5,162,500 5,112,000 77,654 NGL Energy Partners 9% $25 par 6/6/17 40,000 1.000,000 993.560 986.000 -14,000 Total Southern Trust Co. -FixedIncome (Interactive Brokers 13,167,287 13,387,210 13,303,340 136,053 Southern Financial LLC • Fixed Income (DB) Asstxant Fixed to Float 7% March 2048 3/29/18 2,000,000 2,039,798 2,099,889 2,031,167 -8,631, CO:nub Inc - Series 0 5.95% 816115 3.000,000 3.000,006 3,111,073 3,110.963 110,957 Citizens Communications 7.125% Mar 15 2019 10/3/17 1,000,000 1,000,392 1,036,604 1,009,269 8,877 COFP 4.407 8/2019 Euro Bond 9/12/18 2,500,000 2,921,428 - 2,875,046_ -46 382 Deutsche Bank AG 4.875% ow 12/1/2032 6/1/18 1,000,000 868,256 879,998 904,665 36,409 Deutsche Bank AG 4.296% exp 5/24/2028 6/1/18 1,000,000 917,776 925,595 937.026 19 250 Exelanter LLC 10% July 15 2023 10/24/17 2,000.000 1,940,506 2,120,556 2,171,667 231,161 Exelanter LLC 10% July 15 2023 7/9/18 1,000,000 1,027,756 1,060,278 1,085.833 58,077 General Electric Co GTO flied to Float 4.0% Dec 15 2085 12/3/15 2,469,000 2,175,016 2,193,569 2,250,905 75,889 GMAC Cap TR I GTD Pfd Sec Ser 2 8 2/22/12 80,000 1 882 774 2 144 000 2 104 000 221,226 JBS Investments 7.25% April 3 2024 10/31/17 2,000,000 1,981.300 1,987.740 2,106.312 125.012 JP Morgan Chase 8 Co Pfd 7.9% April 30 2049 6/15/11 2,500,000 2,687,500 2,530,451 2,535,718 -151,782 JP Morgan Chase 8 Co Pfd 7.9% April 30 2049 6/15/11 2,500,000 2,675,000 2,530,451 2,535,718 -139,282 JPM Floating Rate Income fund 9/28/17 332,045 3,124,261 3,099,789 3,121,222 -3,039 Lloyds Banking Group Capital 7.5% 12/29/49 5/21/13 1,903,000 1,948.500 2,002,171 1.963,658 15.158 Southern Cal Edison 6.25% Dec 31 2049 1130/12 3,000,000 2.996.137 3.195.955 3.180.729 184.592 Total Southern Financial LLC - Fixed Income (DB) 33,186,406 30,918,118 33,923,897 737,492 TOTAL FIXED INCOME 64,428,003 61,437,427 64,959,055 531,052 EQUITIES Southern Financial LLC- Equities (DB) Amazon AMZN 4/2/18 1,000 1,395,441 2,012,710 2,003,000 607,559 Alibaba Group MBA 6/10/15 5,000 444.749 875.050 823.800 379.051 Apple Inc AAPL 12/7/17 314.000 53,321.627 71.475.820 70.882.360 17.560.733 Apple Inc AAPL 6/20/18 50,000 9.339,691 11,381,500 11,287,000 1,947,309 Apollo Global Management APO 3/31/11 263,157 4.999.983 9.086.811 9.092.074 4.092.091 Bogen Idec Inc BIIB 2/14/12 2,095 250.455 740.562 740,184 489.729 Centeno Corp CNC 9/8/14 15550 986.497 2.277.764 2.251.329 1.264.832 General Electric (exercise of puts sold at 18) GE 2/24/18 25.000 405.493 323.500 282,250 -123.243 Karyopharm Therapeutics Inc KPTI 7/12/18 25,000 467,106 526.250 425,750 -41,358 Nintendo NTDOV 2/5/18 10,000 517,906 449.500 454.650 -63,256 Ubisoft Entertainment UBSFF 3/29/18 11,200 974,199 1 207 367 1 215 177 240 978 Total Southern Financial LLC - Equities (DB) 73.103,147 100.356.834 99,457.574 26.354,427 EFTA00811900  Purchase Quantity 8/31/18 9/30/18 Unrealized Asset Description Symbo Date Cost Value Value Gain (Loss) Southern Financial LLC • Equities (TO) General Electric GE muhtple 125,000 2 593 861 1617.50Q 1.411150 . -1 187 611, Total Southern Financial LLC - Equities (TD) 2,593,861 1,617,500 1,411,250 -1,182,611 Southern Trust Co. - Equities (Mean° Magian (mandatory convert from preferred) AGN 3/1/18 7,066 - 1,354,623 - _ 0 KBW Re 'mat Bank ETF KRE 11/16/17 9.000 503.167 568.350 534.780 31,613 Carvana CVNA 9/4/18 125,000 8.255,075 - 7,386.250 -868,825 Facebook FB 7/26/18 20,000 3,559,596 3.514,600 3,289.200 -270,396 OIH Oil Services ETF 0tH 5/16/18 17,003 490.376 420.070 428.230 -62,146 XLF Filanacial Sector XLF 8/2/17 82,000 - 2,323.060 0 worm COW= On Y27/2019sameixisake efulltduasside tanead nalitl 9/25/17 ref rime 3555 2.500.000 2,453,400 2,462,650 -37,350 Japan Banks Carped Note Exp Feb 1 2019 (75% ',artier) 1/25/18 3,000,000 2,972,100 2,972,100 -27,900 vortex Linked Nita (salted S&P put spreads and buying V1X calls) 318(18 3.000,000 3.074,430 3.081.756 81,756 SX7E Market Plus Nate Ewe/26/2019 (72% baffled 10/24/17 3.000.000 &490.78Q 2562 150 -437.850 Total Southern Trust Co. • Equities (Merrill) 24,308,214 19 171 413 22,717,116 -1,591,098 Southern Trust Co. - Equities (Interactive Brokers) Broadcom AVGO 4/17/18 4,000 1,002,093 876.120 986,920 -15.173 Broadcom AVGO 5/17/18 4,000 1,000,000 876,120 986.920 -13 080 Goldman Sachs GS 1/25/18 1,850 499,873 439,949 414,844 -85,029 General Dynamics GD 217/18 2,300 501,381 444,820 470,856 -30,525 General Dynamics GO 3/27/08 3,450 773,056 667,230 706.284 -66,772 General Dynamics GD 5/7/08 2,500 491,250 483,500 511,800 20,550 Lockheed Manic LMT 2/7/18 1,400 489,300 448,574 484,344 -4,956 Lockheed Martii LMT 3/20/18 2,100 707,676 672,861 726,516 18,840 Lockheed Martin LMT 5/7118 1,500 472,500 480,615 518,940 46,440 Northeop Grumman NOC 2/7/18 1,470 493,920 438,780 466,534 -27,386 Northeop Grumman NOC 3/28/18 2,195 760,159 655,186 696,627 -63,532 Northtrop Grumman NOC 5/7/18 1,500 475,800 447,735 476,055 255 OIH Oi Services ETF OIH 5/17/08 17,000 504,839 420,070 428,230 -76,609 Raytheon RTN 2/7/18 2,400 498,840 478,560 495,984 -2,856 Raytheon RTN 3/20/18 3,600 763,284 717,840 743,976 -19.308 Raytheon RTN 577/18 2,400 491,880 478,560 495,984 4,104 KBW Regional Bank ETF KRE 3/26/18 20,000 1,210,847 1,263,000 1,188,400 -22,447 XLF Finanacial Sector XIS 11/16/17 10,000 283,300 0 XLF Financial Sector XLF 3/26/18 22,000 623260 • 0 Total Southern Trust Co. - Equities (Interactive Brokers 11,136,698 11,196,080 10,799,214 -337,484 Gratitude America, LTD - Equities (Morgan Stanley) General Electric GE 10/23/17 22,000 491,068 284,680 248,380 -242,688 Microsoft WET 9/6/18 10,000 1,113,704 - 1,143,700 29,996 Century Link CTL 9/6118 10,000 212,233 - 212,000 -233 World Acceptance Group WRLO 8/9/18 10,000 1.111,107 1 186 100 1 143 600 32 493 Total Gratitude America, LTD - Equities (Morgan Stanley) 2,928,112 1,470,780 2,747,680 -180,432 Haze Trust - Equities (DB) Bombardier Inc Class B swam 6/21/18 25,000 82,643 0 Carvana CVNA 6/21/18 25,000 1,086,102 1,61$,500 1,477250 391,148 Google GOOG 2/2118 2,000 2222,173 2.436.380 2.386.940 164,767 3oogle GOOG 12/5/17 1,000 1,014,015 1,218,190 1.193,470 179,455 Jnited Technologies UTX 6/21/18 15,000 1.882 944, 1.975.500 2.097.150 214.206 Haze Trust- Total Equities (DB) 6,205,234 7,331,213 7,154,810 949,576 J Epstein VI Foundation • Equities (DB) Bristol Myers Squbb SW 10/30/15 3,400 227,604 205,870 211,072 -16,532 Disney OIS 10130/15 685 76.100 76.734 80.104 2.004 Total J Epstein VIFoundation - Equities (DB) 305,704 282,604 291,176 -14,528 TOTAL EQUITIES 120,580,969 141,426.424 144,578.820 23,997,851 Southern Financial LLC - Equity ETF's (DB) shares South Korea ETF 11/3/17 13,000 875,160 0 0 Total Southern Financial LLC - Equity ETF'S (DB) 0 875,160 0 0 Southern Financial LLC • Options (DB) _IS curve cap between 2yr and 10yr swap exp 5.22-2020 5122/18 *stows sews 86,528 - 0 JS curve cap between 2yr and 10yr swap exp 6-1.2020 611/18 *MUM ......• 82.025 • 0 Total Southern Financial LLC - Options (OB) 0 168,553 0 0 Southern Trust Co. - Options (16) TOTAL OPTIONS - 168,553 - - EFTA00811901  8/31/18 9/30/18 MTD YTD Value Value Return Return Notes Asset Description Oasis 50rtre • >401m Hedge Funds - Southern Financial (SFLLC) Boothbay Multi-Strategy Fund 46,894,854 47,287,994 0.84% 8.40% withdrew 10mm 1/10/17 Boothbay Enhanced Fund 7 894 336 7,991 165 1.23% 6.55% Eon Feb 12015 start Total Hedge Funds - SF LLC 54,789,190 55,279,159 2016 Mum 7.77% 2017 return 153% Hedge Funds -Haze 776 stmt until 10125 nig retire el mak 207 retain of caolja1 2616/17 omenotions 04 King Street - Illiquid Special Investment 3,102.745 3,102.745 2/192010 57,366 4/15 230.7103 1127116 5.157.954 mid Hedge Funds -Haze 3,102,745 3,102,745 sunom man ens lisses rime 6.107.524 PIM 93/2718 37.264 917 2.738 1917716 6788.981 0110 416/2016 Mae 10121%370 1/17117 It/4.541mM 91/2018 57.976 11/1 4,000 2016 return 466% 7/13/3019 435 Initial Inv 2Ornm 931/16 Hedge Funds - STC Honeycomb 42,519.314 50,987,026 1.10% 12.90% added 15mR 927116 42,519,314 50,987,026 added Ifnm 9/20/15 Total Hedge Funds - STC 2014M 044%(6 m15) Total Hedge Funds 100,411,249 109,368,930 2017 Mum 21.0% SFL Mort Southern Grat FT Inc. JEE Trust IGO LLC Real Estate Asset Description Investments SFL Kyara II (investment amount) marked to SO in Sep 2018 0 Kyara IV (investment amount) 250,000 Neoteny 3 (investment amount less 30k distribution 4/20/18) 970,000 Prytanee LLC (art partnership) 1,000,000 Jawbone Investment (grat) 1,000,000 AYH Marina (value per jee) 3,000,000 sic Seaford Avenue Capital - PB Investment - Auto Debt (total coon 2.6mm) 916,687 Adfin Solutions (investment amoun ) I 875,000 butterfly trust (investmen t amount) 3,480,000 Park Partners LLC - 320 East 82nd Street 3,000,000 Paid Contract to Purchase 2 Kean Court Livingston, W I Coinbase via Grat (50% sold for $15mm Feb 2018? sit 1,500,500 Reporty via Ergo Ltd (investment amount) 1,000,000 Valar Global Fund II (amount funded vs 15mm committment) 14,250,000 cumulative MR Oyu 1241.2015 23.20% value as of 6.30-2018 21,000,470 cumulathe IRR thm 1241.2011 21,000,000 cumulative IRR mm 1241.2010 1132% 07.31% Valar Global Fund III (amount funded vs 25mm committment) value as of 6-30 2018 33,345,270 cumulative IRR Rim 12414017 52.02% 1,000,000 3,000,000 40,261,687 1,500,500 6,480,000 Totals Total Investments 52,242,187 EFTA00811902  Hyperion JEGE JEGE Asset Description Air LLC LLC Inc Various Totals Aviation, Automobiles & Boats 2001 Bell 430 N331JE 1,000.000 1,000,000 1988 Gulfstream G-IV N212JE 2,900.000 2,900,000 1968 Boeing 727 N908JE 0 piano i i c, 0 2008 G550 14,000,000 14,000,000 Automobiles 250,000 250,000 Boats 200.000 200,000 Total Aviation, Automobile & Boats 1,000,000 2,900,000 0 14,450,000 18,350,000 Asset Description JEE SFL JEGE Inc. FIRE Totals . Loans Receivable liXdarow 100k yethe SS 15CK) 150.000 150,000 Mark Lloyd 100,000 100,000 Nick Ribis 150,000 150,000 Johnny O'Sullivan 22,446 22,446 David Mitchell 328,700 1,160,000 1,488,700 Osboume Lane Capital (Paul B) 1,000,000 1,000,000 lin 20,000 303,262 323,262 Harlequin Dane, LLC 6,750,000 6,750.000 Coatue Enterprises LLC 2,500,000 2,500.000 Bella Klein 100,000 100.000 Lesley 300,000 300.000 David Rodgers 50,000 50,000 Louella Home 133,000 133.000 Darren Indyke 475,000 475,000 Richard Kahn 475,000 475,000 LV Home & Other 1,457,000 1.457,000 650,064 650,064 Total Loans Receivable 2,878,210 9,700,000 950,000 2,596,262 16,124,472 Enhanced Asset Description Education JEE JEE Various Totals Fine Arts, Antiques & Jewelry Cello 175.000 175,000 Pagano Diamonds i_ 500,000 500,000 32.73 Carrot Emerald Cut Diamond- Joanne.) value 5,400,000 5,400,000 Watches, Earring & Other 775,000 775,000 Fine Arts Schedule 3,050,000 3,050,000 Total Fine Arts, Antiques &Jewelry 175,000 5,900,000 775,000 3,050,000 9,900,000 Loan Payable to BJAV LLC (PLAN D LLC) (30,500,000) (30,500,000) EFTA00811903