EFTA01121561.pdf

Global Investment Opportunities Group J.P. Morgan Securitin LLC, Account Position and MTM Summary (Open Positions) C I 0 Global l runs meat onuornmair Prepared for Southern Financial LLC as of April 23, 2013 Current EX & Commodity rates USDPIDOI 122945 XAUUSEI 1412.61 GBPUSD 1.5265 USDIPT 99.260 USDARS 5.1693 USDKRW 1120.93 EURUSD 1.3008 USDBRL 2.0218 USOCHF 0.9431 USDCAD 1.0258 USDTRT 1.804 USONOIL 5.9132 • Intrad via Illoornbe Symbol Dividend Entry Price Current Price trade Date Shares Company Currency Industry Cost Basis (S) Market Value (S) Mt M 'held (Local) (Local) 11.0ct.11 TEF (1.500) Telefonica Se-Span Adr Communications 0.00% $34080 ($21,255) 20.05 14.17 $8.825 15-Jun.12 TEF (39) Telefonica Sa-Span Mr USD Communications 0.00% $488 ($553) 12.52 14.17 ($65) 24-lan.13 ARIA 9,000 Ariad Pharmaceuticals Inc USD mourner, Non.cydx 0.00% (5176.4001 $167,940 19.60 18.66 (8.460) 14.Feb-12 ARIA 7,535 Ariad Pharmaceuticals Inc USD mourner, Non.cyclk 0.00% (5114.6001 $140,603 15.21 18.66 $26,003 24-Oct-12 Df 25,000 Dean Foods Co USD mourner, Non.cydir 0.00% (5470.4501 $477,250 18.82 19 09 Woo 12-Jul -ID DAG 50,000 Nash% Db Agi Double Long USD Funds 0.00% (5352.5501 $467,000 7.05 9.34 $114,450 17-May-12 FB 17,500 Facebook Inc-A USD Communications 0.00% (5665.000) $457,975 38.00 26.17 (5207,025) 14.Feb-12 BIIB 2,095 Biogen Idec Inc USD mourner, Non.cydk 0.00% (5250.455) $449,734 119.55 214.67 5199.278 tructured Note • Manual Prici via /PMor an InvestmeM Bank as of da Trade Date Maturity Face Amount Loner Description Interest Entry price () Cost Basis (5) Market Value (s) Current Price () MTM Received Nov-12 1, .000 Gs Note 11/22/13 Lnkd To Man Vs Usd 85%Barner. 5% Atrn Cpn-22.9%Martrn (51,000,000) $1,116,960 SO $100.00 L70 $116,960 9-Jan-13 24-lan-14 1,000,000 lisbc Ben Inked To Cnh Vs Usd SYJev. 500%Mantrn 01/09/13 Initial Strate/6.1995 ($1,000,000) $1,006,500 SO $100.00 $100.65 $6,500 14Feb-13 20-Aug-l4 1,000,000 MS Market Plus MAX 0840/1480% EKO Barrier 15% CFI{ Uncapped Initial Level - 2, ($1,000,000) $1,121,350 SO $100.00 $112.14 $121,350 5-Apr-12 16-Apr-15 1,500,000 Mentor CLN 6203% CPN 04/16/2015 Dtd 04/16/2012 ($1,500,000) $1,561,950 569,888 $100.00 $104.13 $131,838 r S. Fixed Income • Intrad via Bkaombe 22-Feb-12 154:m.2018 1,000,020 Nrg Energy Inc 88- N/A 7.625% (51,001,500) $1,146,250 $89,170 4.18% $100.15 $114.63 $233,920 22-Oct-12 01-Apr-2019 1,000,000 Headwaters Inc B. 4/112015 7.625% ($1,035,003) $1,082,500 $38,337 4.99% $103.50 $10825 $85,837 22-Oct-12 15.May.2019 400,000 Earthlmk Inc 8 5 / 1512015 8.875% ($414,000) $408,000 $17,849 828% $103.50 S102.00 $11,849 23-Oct-12 15.May.2019 600,000 Earthlmk Inc 8 siiiscou 8.875% ($619,500) $612,000 $26,625 828% $103.25 5102.00 $19,125 1.Oct-12 01-Jun-2019 1,000,000 Kindred Healthcare Inc 8 6/1/2014 8250% ($996,250) $1,037,500 $46,292 7.17% $99.63 5103.7$ $87,542 8-Nov-12 01-Jun-2019 1,000000 Kindred Healthcare Inc 8 6/1/2014 8250% ($970,000) $1,037,500 $37,813 7.17% $97.00 $103.75 $105,313 24-lan.13 15-Feb-2020 1,500000 Servicemaster Company 2/15/2015 8.000% ($1,595,625) $1,598,445 $29,667 6.39% $106.38 $106.56 $32,487 25.Feb-13 15-Feb-2020 1,000000 Servicemaster Company 2/15/2015 8.000% ($1,070,000) $1,065,630 $12,889 6.39% $107.00 $106.56 58.519 3-Apr-13 10-Apr-2023 300,000 Barclays Bank Plc BBB- 4110/2018 7.750% ($300,000) $303,075 $1,292 7.50% $100.00 $101.03 $4,367 1S-Jun.11 Perpetual 2,500,000 Jpmorgan Osase I Co BBB 4/30/2018 7.900% ($2,702,425) $2,906,500 $366,472 426% $108.10 $11626 $570,547 1S-Jun.11 Perpetual 2,500,000 kamorgan Ouse 8 Co BBB 4/30/2018 7.900% ($2,702,425) $2,906,500 $366,472 426% $108.10 $11626 $570,547 10-lan.11 Perpetual 2,000,000 Bank Of America Corp 88. 5/15/2018 8.125% ($2,081,180) $2,2/35,000 $371,493 4.91% $104.06 $11425 $575,313 30-lan.12 Perpetual 3,000.000 Southern Cal Edison 888 2/1/2022 6250% ($2,999.970) $3,375,420 $230,729 4.50% $100.00 $112.51 $606,179 27-Jun.12 Perpetual 2,000,049 General Floc Cap Corp AA 6/15/2022 7.125% (52,122.920) 52,313,000 $117.167 4.97% $106.15 $115.65 $307,247 U.S. Fixed Income MTM (520.610.195) 522.077,320 $1,752,265 53.218./90 EFTA01121561  Global Investment Opportunities Group I.P. Morgan SeCueltleS LIX, Account Position and MTM Summary (Open Positions) C I 0 Caobalinvostmeall/unarlwefthm Prepared for Southern Financial EEC as of April 23. 2013 Current FIE & Commodity rates USOMXN 12.2945 XAUUSEI 1412.61 GBPUSD 1.5265 USOWY 99160 UNBARS 5.1693 USDKRW 1120.93 EURUSD 1.3008 USOORL 2.0218 USOCHF 0.9431 USDCAD 1.0258 USDTRY 1.804 USONOIC S-9132 nternationd Fixed Income • Intradrry Pricing via Bloomberg Trade Date Maturity Sate Amount Total Int- Entry Price Current Price Issue S&P Rating Currency Coupon Principal Cost (5) Market value 15) Yield to Wont MTM Accrued 15) (Local) (Local) cot • Pevoleos De Venezuela at USD 8.500% ($440,250) 1487,500 $72,903 9.19% 8805 97.50 570,153 11.Oct-12 02-Nov-2017 1,000,000 Petroleos De Venezuela B• USD 8.500% ($897.500) $975,000 145,333 9.19% 89.75 97.50 5122,833 10.May-12 16.Dec-2021 1,500,000 Lloyds Tsb Bank Plc BBB- USD 9.875% (51,627,5C0) $1,815,000 $141,130 3.60% 108.50 121.00 5328.630 26-Jan-12 15.Dec-2035 7,500,000 Republic Of Argentina WA USD 0.000% (51,038.750) $410,250 5469.920 1285 5.40 (5158.580) 13-Oct-10 15.Dec-2035 10,000,000 Republic Of Argentina WA ARS 0.000% (5318.000) 515,500 $326.746 12.56 0.80 523,746 Mortgage and Asset Backed • Manual Pricing via IF•Morgan Investment Bank Trade Date Maturity Original Face Issue S&P Rating Next Call Date Coupon Principal Cost (5) Total Princ*Int Entry Price Current Price Marital Value (5) MTM (5) (Local) (Local) 24-Jan-13 25-Aug-2029 9,551,000 Nmbt 2004-1 OM CCC 4/25/2013 1.100% ($562,273) $560,616 $4,657 5625 56.25 $, 6.Feb-13 20.Dec-2032 5,701,000 Senn 11 B1 CCC 5/20/2013 1.654% (/781.919) $798,259 $11,261 73.75 76.30 $27,601 5.Nov-12 25-Nov-2032 1,750,000 Gmsl 2004-A 83 CCC N/A 5250% (1583.601) 5538,811 $64,815 80.50 80.21 $20,025 23-Aug-12 25-Aug-2033 3,325,000 Cwhl 2003-26 (11 4/25/2013 5.336% (51231,222) $1,068,003 $180,960 7700 73.20 $17,740 14-Nov12 25-Apr-2035 10,000,000 Inn 2005.2 1M1 CCC 4/25/2013 0.845% (51,165,893) $1,144,948 $57,855 7000 71.00 $36,913 2B-Nov.12 25-Feb-2037 eciellocio Chase 2007-A1 2A4 CCC 8/25/2024 2.988% (52.042,809) $1,880,598 $172,027 88.50 88.00 $9,816 16.4pr-13 25-Mar-2033 4300,000 Cwhl 2003-1 61 4/25.0013 5.750% (51,448,803) $1,448,803 ($4,362) 95.50 95.50 (54.362) Listed Preferred Trade Date Maturity Shares Company S&P Rating Par Amount Coupon Principal coat (9) Dividends Entry Price Current Price Market Value IS) Received Yield to Wont (5) (Local) (Local) 18-Nov.10 12/1/2013 8.000 General Motors Co WA $50.00 4.75% (5400.000) $362,320 145,494 23.36% 5000 45.29 57,814 9-Dec-10 12/1/2013 63,000 General Motors Co WA $50.00 4.75% (53,185373) $2,853,270 $349,541 23.36% 5057 45.29 $16,838 15.Feb-13 2/1/2016 6,000 Cliffs Natural Resources WA $25.00 7.00% (1150.000) $109,260 $1,021 19.99% 2SX* 18.21 ($39.719) 22.Feb-12 2115/2040 80,000 Gmac Capital Trust I CCC, $25.00 8.13% (51,682.800) $2,168,000 $166,111 5.45% 2354 27.10 $451,311 15-lan.13 1/15/2073 25,000 Nextera Energy Capital 88B $25.00 5.00% (1625.000) $619,500 $5,122 5.05% 2SX* 24.78 ($378) 3-Feb-12 Perpetual 46,600 Aly Financial Inc CCC, $25.00 8.50% (51,002.226) $1,248,414 $117,730 6.52% 2151 26.79 $363,918 9.Feb-12 Perpetual 80,000 Aly Financial Inc CCC. $25.00 8.50% ($1,780,000) $2,143,200 $199,278 632% 2225 26.79 $562,478 17-Jan-13 Perpetual 27,000 Vomado Realty Trust BBB- $25.00 5.40% ($675.000) 5672,570 $3,443 5.46% 2500 24.91 $1,013 24-Oct-12 Perpetual 40,000 Royal Bk Scotksd Grp Ptc 88 $25.00 7.25% (1951.600) $991,600 $24,569 7.38% 23.79 24.79 $64569 7-Jan-13 Perpetual 40,000 Royal Bk Scotksd Grp Ptc 88 $25.00 7.25% (1977.600) $991,600 $9,868 7.38% 2444 24.79 f23,868 14-Jan.13 Perpetual 40,000 Royal Bk Scotlnd Grp Ptc 88 $25.00 7.25% (1995.200) $991,600 $8458 7.38% 24.98 24.79 $4,858 2-Apr-13 Perpetual 35,000 Digital Realty Trust Inc 8B. $25.00 5.88% ($875.000) 5872.900 $0 5.90% 2500 24.94 (52.1001 16.Ape-13 Perpetual 12,000 First Republic Bank/5f WA $25.00 5.50% (1303000) $297,960 $0 2500 24.83 (52.0401 EFTA01121562  Global Investment Opportunities Group LP. Morgan ~sin u.c. GI0 Global latuntraisat OnuoriunItles Account Position and MTM Summary (Open Positions) Prepared for Southern Financial LLC as of April 23, 2013 Current FX & Commodity rates USIBMXN 12.2985 )(AU») 1412.61 GBPUSD 1.5265 LISCUPY 99.260 USDARS 5.1693 USDKRW 1120.93 EURLISD 1.3008 USUAL 2.0218 LISDOir 0.9431 USDCAD 1.0258 USDTRY 1.804 LISONOR 5.9132 Forward Contracts • Rates emoted intraday from Bloomberg Current Spot Current Albin Trade Date Value Date Bought Notional Sold Notional Fix Date Contract Spot Contract Forward MTM Rate Forward 1.Feb.13 6-May-13 CHF 6,190500 EUR 5,000,000 4-May-13 1.2391 1.2381 1.22693 1.22690 $59,377 14Mar-13 18-Jun-13 USD 5,000,000 1(4W 5,581,750,000 16-hm-13 1116.35 1116.35 1120.19000 1,122.80250 $28,734 2I3Mar-13 1-Mar13 JPY 925,220,000 CAD 10 003,000 =Ma 92.63 92.522 96.75200 96.73640 ($424,390) Forward Contracts MTM ($336.279) FX Options • MTM Modelled via Bloomberg Currency 2 Original Current Premium Trade Date Expiration Direction Currency 1 Type Strike Currency 2 Type Barrier Type MINI Notional Premium (5) (5) 8-Aug.12 OB-Oct-13 Bought IPY Put 10,000,000 80.90 CAD Call (5347.809) $1.592,358 $1,244,549 8-Aug.12 08.Oct-13 Sold JPY Call 10,000,000 76.90 CAD Put Exp KI 0 69.65 $347,809 $0 $347,809 FX Options MIM 50 $1,592.358 $1,592,3541 Commodity Options • MTM Modelled via Bloomberg Original Current Premium Trade Date Expiration Direction Commodity Type Notional (or) Strike Currency Notional Type MIM Premium ($) 19.Apr-13 11-Jul-13 Bought COM3 Call 100,000 111 11,100,000 Put 11.1u1.13 DX) 568528 19-Apr-13 11-Jul-13 Sold COM3 Put 100,000 87.5 8,750,000 Call 11-Jull 3 586,000 5Y, Commodity Options MTM s0 ($19.518)a Total Return Sw Effective Maturity Accrued Interest Entry Price ff Dividends Conant Price Trade Date Underlying Shares Rate Spread (bps) Notional MIM Date Date Paid (Local) Earned (Local) 31-Jan.13 3-Feb-13 5-Feb-14 Apple Inc 4A30 3mL 1.00% 52,017,023.30 (55,646) $455.31 SO 405.41 ($226,703) 18 -Mar-13 18-Mar-13 20-Mar14 Komi Transport Equipmt 888,972 3mL 0.70% 11,999,999.37 (51,951) 2504.92 SO 2,18380 ($270,052) Total Return Swaps MTM 54,017,023 (57,597) so _J (5496, n5) E01LO 5139,807 5207,764 $347,571 fl/SP $5,545,382 $1,063,396 $6,608,778 2012 LOY Open Milil 55.585,131 Repo $0 $0 $0 Current Open MTM 56.424.995 MF /ST $0 $0 $0 Derivative $739,806 (51,499,110) ($759.304) YID Change in Open MTM $739,8541 Alternative $0 SO $0 2013 Closed PA- ($227.950) Other I Miscellaneous $0 SO $0 otals 56A24,995 (5227.950) $6.197A45 [2013 Net Performance 5511,908 <O 20131Psbrpen Gust & Co EFTA01121563  Global Investment Opportunities Group J.P. Morgan SecurItie G I0 Glob•I ni )toir... tunic in Account Position and MTM Summary (2013 Closed Positions) Prepared for southern Financial LLC as of April 23, 2013 Equity Dividend Entry Price Closing Price Trade Date Symbol Shares Company Currency Industry Cost Basis (5) Market Value (5) Closing Date Pit Yield (Local) (Local) 8-Jan-13 CLMT 4,400 Calumet Specialty Products USD Energy 7.27% (5139.964) $137.452 8-Jan-13 31.81 31.24 (52.512) 8-Jan-13 SLRC 4,400 Solar Capital Ltd USD Financial 10.25% (5107.360) $105.688 8-Jan-13 24.40 24.02 (51.672) 8-Jan-13 Tap 3,200 Tesoro Logistics Lp USD Energy 3.63% ($133.440) $134909 9-Jan-13 41.70 42.16 51,469 15-Jan-13 USAC 6,000 Usa Compression Partners Lp USD Industrial 0.00% ($108.000) 5106.260 15..lan.13 18.00 17.71 (51.740) 16-Ian.13 ALNY 2,400 Alnylam Pharmaceuticals Inc USD snstoner. Nowt-cyclic 0.00% ($48,312) $50,040 16..lan.13 20.13 20.85 $1,728 16-Ian.13 ITMN 6,600 Intermune Inc USD snstoner. Nowt-cyclic 0.00% ($65,340) $66,125 16..lan.13 9.90 10.02 $785 17-Ian.13 AVEO 2,400 Aveo Plizamaceuticah Inc USD snstoner. Nowt-cyclic 0.00% ($18,000) 517,899 17-Jan.13 7.50 7.46 ($101) 17-Ian.13 CUM 1,800 Cyr Refining (p USD Energy 0.00% (545.000) 545,871 17-Jan.13 25.00 25.48 $871 18-Ian.13 MCP 6,000 Molycorp Inc USD Basic Materials 0.00% (S114.000) $111,358 18..lan.13 19.00 18.56 (52.643) 18-Jan-13 NCLH 1,600 Norwegian Cruise Line Holdin USD Consumer, Cyclical 0.00% ($30,400) $39,328 18..lan.13 19.00 24.58 $8.928 18-Jan-13 NTI 5,200 Northern Tier Energy Lp USD Energy 19.02% (5127,192) $126,149 18..lan.13 24.46 24.26 (51.043) 14-Feb-13 ARIA 9,000 Ariad Pharmaceuticals Inc USD 'name,. Nowt-cyclic 0.00% (S136.878) 5174,408 24..lan.13 15.21 19.38 $37,530 24-Jan-13 89L 4,000 Buckeye Partners Lp USD Energy 6.70% (S210.160) $208323 24..lan.13 52.54 52.13 (51.637) 25-Jan-13 BFAM 500 Bright Horizons Family Solut USD snstoner. Nowt-cyclic 0.00% ($11,000) $13,758 25..lan.13 22.00 27.52 52.758 25-Jan-13 MCP 2,500 Molycorp Inc USD Basic Materials 0.00% ($15,000) $17A00 25..lan.13 6.00 6.96 52.400 29-Jan-13 PNY 6,500 Piedmont Natural Gas Co USD Utilities 3.56% (5208.000) 5207.410 30..lan.13 32.00 31.91 ($590) 31-Jan-13 KR% 1,500 Keryx Biopharmaceuticals USD snstoner. Nowt-cyclic 0.00% ($12,735) $14,190 31-Jan.13 8.49 9.46 $1,455 3I-Ian.13 VNR 3,500 Vanguard Natural Resources USD Energy 8.41% ($97,475) $96,983 31-Jan.13 27.85 27.71 (5492) 3I-Ian.13 27S 25,000 2oees Inc USD 'num.,. Nowt-cyclic 0.61% (5650.000) $786,482 1.Feb-13 26.00 31.46 5136,482 1 -Feb-13 CUSP 1,500 Chesapeake Lodging Trust USD Financial 4.15% ($31.125) $31,559 1.Feb-13 20.75 21.04 $434 1 -Feb-13 NMM 3,500 Navios Maritime Partners Lp USD Industrial 12.04% ($49,525) $48.859 1.Feb-13 14.15 13.96 ($666) 5-Feb-13 EPD 4,000 Enterprise Products Partners USD Energy 4.35% (5218.240) $218,072 5-Feb -13 54.56 54.52 (5169) 5-Feb-13 BCC 1,000 Eloise Cascade Co USD Industrial 0.00% ($21,000) $25,269 6-Feb -13 21.00 25.27 $4,269 7-Feb-13 BCC 3,500 Eloise Cascade Co USD Industrial 0.00% ($69,510) $69,263 7-Feb -13 19.86 19.79 ($247) 14-Feb-13 MR 29,000 Armour Residential Reit Inc USD Financial 13.08% (S198.360) $193.141 14.Feb-13 6.84 6.66 ($5.219) IS-Feb-13 CLF 3,000 Cliffs Natural Resources Inc USD Basic Materials 3.30% ($87,000) 589,148 15-Feb-13 29.00 29.72 52.148 15-Feb-13 NLSN 8,000 Nielsen Holdings Nv USD Communications 1.86% (S260.400) $260.654 15-Feb-13 32.55 32.58 $254 15-Feb-13 1,000 Pioneer Natural Resources Co USD Energy 0.07% (S128.000) 5130,328 15-Feb-13 128.00 130.33 52.328 21-Feb-13 KORS 20,000 Michael Kon Holdings Ltd USD Consumer, Cyclical 0.00% (51230,000) 51,201.181 21-Feb-13 61.50 60.06 328.819) 21-Feb-13 KMP 3,000 Kinder Morgan Energy Prtnn USD Energy 5.67% ($259.050) $259,377 2I.Feb-13 86.35 86.46 $327 27-Feb-13 AGNC 15,000 American Capital Agency Corp USD Financial 15.32% (5474.450) $473,839 27.Feb-13 31.63 31.59 ($611) 27-Feb-13 MPW 1,250 Medical Properties Trust Inc USD Financial 5.01% ($17,813) $17,887 27.Feb-13 14.25 14.31 $75 28-Feb-13 DCP 3,500 °pomp International Inc-A USD Nat.cyclic 0.00% (S14Z205) $143,357 I.Mar.13 40.63 40.96 $1,152 5-Mar-13 WP2 2,750 Williams Partners Lp USD Energy 6.31% (S135.135) $134362 5-Mar-13 49.14 48.86 3773) 6-Mar-13 ARI 4,000 Apollo Commercial Real Estat USD Financial 9.38% ($68.200) 568.238 -6Mar -13 17.05 17.06 $38 6-Mar-13 MHO 500 MA Homes Inc USD Consumer, Cyclical 0.00% ($11,750) $12,210 -6Mar -13 23.50 24.42 5460 6-Mar-13 O 2,000 Realty Income Corp USD Financial 4.40% ($91,800) 591,078 -6Mar -13 45.90 45.54 3722) 7-Mar-13 LUSO( 1,500 Discovery Communications-C USD Communications 0.00% ($97,125) 5100.438 7-Mar-13 64.75 66.96 $3.313 7-Mar-13 KM 1,500 Kar Auction Services Inc USD snsLener. Nowt-cyclic 3.59% (528.875) 529,234 7-Mar-13 1925 19.49 $359 7-Mar-13 BKU 500 8ankunited Inc USD Financial 3.42% ($12,625) $12255 8-Mar-13 25.25 25.51 $130 8-Mar-13 PCYC 2,500 Pharmacyclics Inc USD snsLener. Nat.cyclic 0.00% (5235.000) $235,330 8-Mar-13 94.00 94.13 $330 12-Mar-13 1.%P 2,000 Lexington Realty Trust USD Financial 4.85% ($23,400) $23,339 12-Mar -13 11.70 11.67 (5611 13-Mar-13 BNNY 1,250 Annie's Inc USD snstoner. Nowt-cyclic 0.00% ($50,000) 549,949 13-Mar -13 40.00 39.96 (551) 13-Mar-13 HTWR 600 Heartware International Inc USD snstoner. Nowt-cyclic 0.00% ($51,870) $52,055 13-Mar -13 86.45 86.76 5185 14-Mar-13 VIPS 1,000 Vipshop Holdings Ltd Ads USD Communications 0.00% ($24,000) $24,609 14-Mar -13 24.00 24.61 $609 IS-Mar-13 TRLA 1,000 Trulia Inc USD Communications 0.00% ($29,750) $31,009 15-Mar-13 29.75 31.01 $1,259 3-Apr-13 ARCC 3,500 Ares Capital Corp USD Financial 8.68% ($61,635) 561,344 3-Apr-13 17.61 17.53 ($291) 9-Apr-13 CU2 4,000 Cousins Properties Inc USD Financial 1.68% ($41,800) 542,359 9-Apr-13 10.45 10.59 5559 10-Apr-13 TMHC 1,500 Taylor Morrison Home Corp-A USD Consumer, Cyclical 0.00% ($33,000) 534,754 10-Apr-13 22.00 23.17 $1,754 11-Apr-13 RLGY 9,000 Realogy Holdings Corp USD Financial 0.00% (5396.000) $401,119 11-Apr -13 44.00 44.57 $5,119 11-Apr-13 INFI 7,500 Infinity Pharmaceuticals Inc USD snstoner. Nowt-cyclic 0.00% (5300.000) 5308.768 11-Apr -13 40.00 41.17 $8.768 12-Apr-13 EV7C 4,000 Evertor Inc USD snsLener. Nowt-cyclic 0.00% ($80,000) $85,430 12-Apr -13 20.00 21.36 55,430 12-Apr-13 CSTE 1,500 Caesarstone Sdot-Yam Ltd USD Industrial 0.00% ($34,875) S35,639 12-Apr -13 23.25 23.76 $764 18-Apr-13 APL 21,000 Atlas Pipeline Partners Lp USD Energy 6.52% (5714.000) $721644 18-Apr-13 34.00 34.46 59,644 18-Apr-13 2,000 Intelsat Sa USD Communications 0.00% ($36.000) 533,919 18-Apr -13 18.00 16.96 (52.081) 18-Apr-13 ROSE 1,000 Rosetta Resources Inc USD Energy 0.00% ($42,500) 542,459 18-Apr -13 42.50 42.46 (541) 18-Apr-13 TAM LOCO Taminco Corp USD Basic Materials 0.00% ($15,000) $14,080 18-Apr-13 15.00 14.08 3920) 11.Oct-11 TEF (,500) Telefonica Sa-Spon Adr USD Communications 0.00% $30,080 (520.700) 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 ($50) 15-lun-12 SEAS 2,000 Seaworld Entertainment Inc USD Consumer, Cyclical 0.00% (554.000) 561,419 19-Apr -13 27.00 30.71 57,419 EFTA01121564  Global Investment Opportunities Group J.P. Morgan Securities 11C. CIO Account Position and MTM Summary (2013 Closed Positions) Olobel Investment Ormortuntrles Prepared for Southern Financial LLC as of April 23. 2013 U.S. Fixed Income Total Int. Trade Date Maturity Face Amount Issuer S&P Rating Next Call Date Coupon Principal Con Market Value Closing Date Entry Price Closing Moe Accrued 24.0ct-11 15-Feb-2016 1,500,000 Hca Inc B. WA 6.500% (51.530,000) 51,650,000 1122.41, 24.lan.13 $102.00 5110.00 5242,417 8.Mar-11 01-Mar-2017 2,500,000 American Axle IS Mfg Inc B WA 7.875% (52615.625) $2.575,000 $289.8“ 1-Mar.13 $10443 5103.00 5249.219 17-Apr-13 Perpetual 3,000,000 lama/gen Chase a Co BBB 5/1/2023 5.150% ($3.000000) $3,015,000 $289.844 17-Apr-13 $100.00 510).50 $304,844 U.S. Fixed Income PIL S 796.4)9 International Fixed Income Total Int. Entry Price Closing Price Trade Date Maturity Face Amount Issue S&P Rating Currency Coupon Principal Cost (S) Market value (5) Closing Date Accrued (5) (Local) (Local) 23-lan.13 05.Dec.2022 12,00%003 America Monl Sala De C MXN 6.450% ($1,004,417) $1,041,054 $15,705 19-Apr.1 105.75 106325 552,343 EFTA01121565  Global Investment Opportunities Group J.P. Morgan Securities 1.1.C. ICI Gillil•i lnvr.unenr (34 , 001rinfligin Account Position and IVITM Summary (2013 Closed Positions) Prepared for Southern Financial LLC as of April 23, 2013 Mortgage and Asset Backed Trade Date Maturity Original Face Issue S&P Rating Next Call Date Coupon Principal Coat (5) Market Value (5) Total Int. Closing Date Entry Price Closing Price PIL Accrued (5) (Local) (Local) 11-Sep-12 25-May-203$ 8.126,960 Mh12005-2 1..11 8/25/2015 0.640% ($1,456,134) $1,565,282 $104,747 2./20/2013 70.00 79.00 $213,895 Listed Prefemeds Trade Date Maturity Share: Company S&P Rating Par Amount Coupon Principal Coat (5) Market Value (5) Dividends Entry Price Closing Price . Closing Date PIL Received (Si (Local) (Local) 9-Jan-13 1/15/2073 15,200 Duke Energy Carp 8811. $2590 5.13% (5380,000) $383,192 $0 11-Jan-13 25 00 25.21 $3,192 14-Jan-13 1/15/2073 10,803 Duke Energy Corp BBB. $2500 5.13% ($270,000) $279,282 $0 220an-13 25 00 2586 $9,282 22-lan-13 1/29/2053 32.500 General Elec Cap Corp AA. $25.00 488% ($812,500) $811,832 $0 29-Jan-13 25 00 2498 ($668) 290an-13 Perpetual 47,212 fem.:igen Chase 8 Co BBB $25.00 5.45% ($1,180,300) $1,173,664 SO 15-Mar -13 25 00 2486 (5036) 14-Mar-13 Perpetual 25,003 Interstate Power 8 Light BBB $25.00 5.10% (1625,000) $624,486 SO