EFTA01410550

Account Number: N4G-026161 Statement Period: 06/01/2015 - 06/30/2015 SOUTHERN FINANCIAL LLC 6100 RED HOOK QUARTER B3 ST THOMAS VI 00802 Valuation at a Glance Beginning Account Value Net Cash Deposits and Withdrawals Net Securities In/Out of Account Adjusted Previous Account Value Dividends, Interest and Other Income Net Change in Portfolio Your Client Advisor: DANIEL SABBA Commission Amount: $0.00 Ending Account Value Estimated Annual Income This Period $3,382,985.66 0.00 0.00 3,382,985.66 14.81 -102,926.00 $3,280,074.47 $44,178.02 Year-to-Date $233,030.72 366,963.73 2,483,792.00 3,083,786.45 21,070.02 175,218.00 $3,280,074.47 Asset Allocation USD Cash, Money Funds, and Bank Depositsl USD Equities Account Total (Pie Chart) Prior Year-End 233,030.72 0.00 $233,030.72 1 The Bank Deposits in your account are FDIC insured bank deposits. Last Period 621,049.66 2,761,936.00 $3,382,985.66 FDIC insured bank deposits are not securities and are not covered by the Securities Investor Protection Corporation (SIPC). These bank deposits are covered by the Federal Deposit Insurance EFTA01410550 Corporation (FDIC), up to allowable limits. 621,064.47 2,659,010.00 $3,280,074.47 This Period % Allocation 18.93% 81.07% 100.00% Please review your allocation periodically with your Client Advisor. Page 1 of 9 B0097220CSF30023 EFTA01410551 Summary of Gains and Losses Short-Term Gain/Loss Realized This Period 0.00 Long-Term Gain/Loss Net Gain/Loss This summary excludes transactions where cost basis information is not available. For Your Information On June 5, 2014, the European Central Bank (the "ECB") introduced "negative interest rates". This negative interest rate applied to all deposits held at the ECB and other credit institutions. Effective February 1, 2015, the negative interest expense on any euro deposits will be charged to your account. The initial interest charge will be -.20% (20 basis points), and will reflect on your account statement as "Free Credit Balance Interest Charge". The interest will be reported on your Forms 1099 and/or 1042-S for tax year 2015. These rates are subject to change in response to market changes, and we may, in the future and based on our normal interest rate setting arrangements, begin to charge negative interest rates on additional foreign currency balances. FDIC Insured Bank Deposits Date Activity Type Sweep FDIC Insured Bank Deposits INSURED DEPOSITS PROGRAM Account Number: N4G026161 Opening Balance 05/30/15 06/15/15 06/16/15 Deposit Activity Ending: 06/30/15 INTEREST CREDITED APY 0.03% BB&T A/0 06/16 $146064.47 Citibank N.A. A/0 06/16 $237500.00 Deutsche Bank Trst Co A/0 06/16 $237500.00 06/30/15 Closing Balance Total FDIC Insured Bank Deposits $621,064.47 $621,064.47 The FDIC Insured Bank Deposits are not securities and are not covered by the Securities Investor Protection Corporation (SIPC). The Bank Deposits at each bank are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 for each category of legal ownership EFTA01410552 including individual retirement accounts and certain other self directed retirement accounts. Please review this in connection with other deposits you may have at each respective bank. Income and Expense Summary Dividend Income Equities 80097220CSF30023 Account Number: N4G-026161 SOUTHERN FINANCIAL LLC Current Period Taxable 0.00 Year-to-Date Non Taxable 0.00 Taxable 20,988.00 Non Taxable 0.00 Page 2 of 9 621,049.66 14.81 621,049.66 621,064.47 621,064.47 Description Amount Balance 0.00 0.00 Year-to-Date 0.00 0.00 0.00 Unrealized 190,619.71 697,829.50 888,449.21 EFTA01410553 Statement Period: 06/01/2015 - 06/30/2015 Income and Expense Summary (continued) Interest Income FDIC Insured Bank Deposits Total Dividends, Interest, Income and Expenses Portfolio Holdings Opening Date 14.81 $14.81 0.00 $0.00 82.02 $21,070.02 0.00 $0.00 Current Period Taxable Year-to-Date Non Taxable Taxable Non Taxable Quantity Account Number Activity Ending Cash, Money Funds, and Bank Deposits 19.00% of Portfolio FDIC Insured Bank Deposits INSURED DEPOSITS PROGRAM 05/30/15 621,064.470 Total FDIC Insured Bank Deposits Total Cash, Money Funds, and Bank Deposits Date Acquired Quantity Equities 81.00% of Portfolio Common Stocks APPLE INC COM Dividend Option: Cash 10/28/13 3 09/05/14 3 Total Covered Total Total Common Stocks Total Equities Total Portfolio Holdings B0097220CSF30023 14,000.000 7,200.000 21,200.000 21,200.000 EFTA01410554 75.5800 98.9500 Unit Cost Cost Basis N4G026161 Opening Balance Closing Balance Accrued Income Income This Year 30-Day Yield Current Yield 06/30/15 621,049.66 621,064.47 $621,049.66 $621,049.66 Market Price $621,064.47 $621,064.47 Market Value 7.66 $7.66 $7.66 Unrealized Gain/Loss 82.02 $82.02 $82.02 Estimated Annual Income Estimated Yield N/A N/A Security Identifier: AAPL CUSIP: 037833100 1,058,120.50 712,440.29 1,770,560.79 $1,770,560.79 $1,770,560.79 $1,770,560.79 Cost Basis $2,391,625.26 125.4250 EFTA01410555 125.4250 1,755,950.00 903,060.00 2,659,010.00 $2,659,010.00 $2,659,010.00 $2,659,010.00 Market Value $3,280,074.47 697,829.50 190,619.71 888,449.21 $888,449.21 $888,449.21 $888,449.21 Unrealized Gain/Loss $888,449.21 Accrued Interest $0.00 29,120.00 14,976.00 44,096.00 $44,096.00 $44,096.00 $44,096.00 Estimated Annual Income $44,178.02 Page 3 of 9 Account Number: N4G-026161 SOUTHERN FINANCIAL LLC 1.65% 1.65% EFTA01410556 Portfolio Holdings (continued) Footnotes Securities acquired before 2011 or in retirement accounts 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 non-retirement, US taxpayers 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 • Options and any Debt Instruments that provide a simple fixed payment schedule for which a yield to maturity can be easily determined acquired on or after January 1, 2014. 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. Messages 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. 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. Customer Collateral Account Under Securities Account Control Agreement Please be advised that Reich & Tang Asset Management, LLC will be liquidating its funds (the "R&T Funds") by the end of July 2015 and as such the R&T Funds will no longer be available as money market funds in the DBSI cash sweep program (the "Sweep Program"). What this means for you: If you are currently invested in an R&T Fund, please refer to our earlier letter for more information about your available cash sweep options, or contact your client advisor. If you are not currently invested in the R&T Funds, this change will not EFTA01410557 affect the existing sweep for your uninvested cash balances and no action is required on your part. For information on all cash sweep options available in the Sweep Program, please visit our website at: http://wealth.deutscheawm.com/americas/en/- CashSweepOptions.html and click on "Cash Sweep Options-Rates". Page 4 of 9 60097220CSF30023 Account Number: N4G-026161 SOUTHERN FINANCIAL LLC EFTA01410558 Statement Period: 06/01/2015 - 06/30/2015 Activity Summary (All amounts shown are in base currency) Credits Dividends and Interest Cash Deposits Total Cash FDIC Insured Bank Deposits Total Credits Transactions by Type of Activity Process/ Settlement Date Activity Type Dividends and Interest 06/15/15 FDIC INSURED BANK DEPOSITS INTEREST RECEIVED 458997996 Total Dividends and Interest - UNITED STATES DOLLAR FDIC Insured Bank Deposits 06/15/15 FDIC INSURED BANK DEPOSITS INTEREST REINVESTED 458997996 Total FDIC Insured Bank Deposits UNITED STATES DOLLAR Total Value of Transactions The price and quantity displayed may have been rounded. INSURED DEPOSITS INTEREST REINVESTED 0.00 0.00 This Period $14.81 0.00 $0.00 $0.00 $14.81 Year-to-Date $21,070.02 366,963.73 $366,963.73 $0.00 $388,033.75 Debits Dividends and Interest Cash Deposits Total Cash FDIC Insured Bank Deposits EFTA01410559 Total Debits This Period $0.00 0.00 $0.00 -$14.81 -$14.81 Year-to-Date $0.00 0.00 $0.00 -$388,033.75 -$388,033.75 Description Quantity INSURED DEPOSITS INTEREST CREDITED 0.00 Price Accrued Interest Amount Currency 14.81 USD 14.81 -14.81 USD -14.81 0.00 USD Page 5 of 9 60097220CSF30023 Account Number: N4G-026161 SOUTHERN FINANCIAL LLC EFTA01410560 Client Service Information Your Client Advisor: DAN DANIEL SABBA 345 PARK AVENUE, 26TH FLOOR NEW YORK NY 10154 Your Account Information 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 Bond Amortization Elections: Treat all interest as original issue discount (OID): No Amortize premium on taxable bonds based on Constant Yield Method: Yes Accrual market discount method for all other bond types: Ratable Method Include market discount in income annually: No 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. 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, unless otherwise noted, have been obtained from independent vendor services, which we believe to be reliable. Market prices do not constitute a bid or an offer, and may differ from the actual sale 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 EFTA01410561 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 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. Page 6 of 9 60097220CSF30023 Account Number: N4G-026161 SOUTHERN FINANCIAL LLC EFTA01410562 Statement Period: 06/01/2015 - 06/30/2015 Important Information and Disclosures (continued) 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. 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 EFTA01410563 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 functions performed by Pershing please consult the Disclosure Statement provided to you upon the opening of your account. This notice is not meant as a definitive enumeration of every possible circumstance, but as a general disclosure. If you have any questions regarding this notice or if you would like additional copies of the Disclosure Statement, please contact your financial institution. Pershing is a member of the Securities Investor Protection Corporation (SIPC® ). Please note that SIPC does not protect against loss due to market fluctuation. In addition to SIPC protection, Pershing provides coverage in excess of SIPC limits. For more detailed information please visit: www.pershing.com/strength_stability.html. This statement will be deemed conclusive. You are advised to report any inaccuracy or discrepancy (including unauthorized trading) promptly, but no later than ten days after receipt of this statement, to your financial organization and Pershing. Please be advised that any oral communication should be re-confirmed in writing to further protect your rights, including your rights under the Securities Investor Protection Act. Your financial organization's contact information can be found on the first page of this statement. Pershing's contact information is as follows: Pershing LLC, Legal Department, One Pershing Plaza, Jersey City, New Jersey 07399; (201) 413-3330. Errors and Omissions excepted. Important Arbitration Disclosures All parties to this agreement are giving up the right to sue each other in court, including the right to a trial by jury, except as provided by the rules of the arbitration forum in which a claim is filed. Arbitration awards are generally final and binding; a party's ability to have a court reverse or modify an arbitration award is very limited. The ability of the parties to obtain documents, witness statements and other discovery is generally more limited in arbitration than in court proceedings. The arbitrators do not have to explain the reason(s) for their award, unless, in an eligible case, a joint request for an explained decision has been submitted by all parties to the panel at least 20 days prior to the first scheduled hearing date. • • • The panel of arbitrators will typically include a minority of arbitrators who were or are affiliated with the securities industry. The rules of some arbitration forums may impose time limits for bringing a claim in arbitration. In some cases, a claim that is ineligible for arbitration may be brought in court. The rules of the arbitration forum in which the claim is filed, and any EFTA01410564 amendments thereto, shall be incorporated into this agreement. Page 7 of 9 60097220CSF30023 Account Number: N4G-026161 SOUTHERN FINANCIAL LLC EFTA01410565 Important Information and Disclosures (continued) Important Arbitration Agreement Any controversy between you and Pershing LLC shall be submitted to arbitration before the Financial Industry Regulatory Authority. No person shall bring a putative or certified class action to arbitration, nor seek to enforce any predispute arbitration agreement against any person who has initiated in court a putative class action, who is a member of a putative class who has not opted out of the class with respect to any claims encompassed by the putative class action until; (I) the class certification is denied; (II) the class is decertified; or (III) the client is excluded from the class by the court. Such forbearance to enforce an agreement to arbitrate shall not constitute a waiver of any rights under this agreement except to the extent stated herein. The laws of the State of New York govern. Pershing's contact information is as follows: Pershing LLC, Legal Department, One Pershing Plaza, Jersey City, New Jersey 07399; (201) 413-3330. Page 8 of 9 B0097220CSF30023 Account Number: N4G-026161 SOUTHERN FINANCIAL LLC EFTA01410566 Page 9 of 9 B0097220CSF30023 Account Number: N4G-026161 SOUTHERN FINANCIAL LLC EFTA01410567