EFTA01547263

SOUTHERN FINANCIAL, LLC 6100 RED HOOK QUARTER B3 ST THOMAS 00802 VIRGIN ISLANDS (U.S.) EFTA01547263 EFTA01547264 For the Period 11/1/13 to 11/30/13 Account Summary Account Number Investment Account(s) SOUTHERN FINANCIAL, LLC SOUTHERN FINANCIAL LLC SOUTHERN FINANCIAL, LLC SOUTHERN FINANCIAL, LLC Total Value 2 1 Beginning Net Market Value 34,463,099.80 0.00 8,331.02 0.00 $34,471,430.82 Ending Net Market Value 28,401,769.61 0.00 0.00 0.00 $28,401,769.61 This account summary is provided for informational purposes and includes assets at different entities. (1) Assets held at JPMorgan Chase Bank, N.A., member Federal Deposit Insurance Corporation ("FDIC"), except for exchangelisted options, which are held at 3PMorgan Clearing Corporation ("JPMCC"). The Asset Account Statement reflects brokerage transactions executed through J.P. Morgan Securities LLC ("JPMS"), see "Portfolio Activity Detail". Equity securities, fixed income securities, and listed options transactions are generally cleared through JPMCC, a wholly owned subsidiary of 3PMS. Please see "Additional Information About Your Accounts" at the end of the Asset Account Statement. (2) Assets held in Margin Account at JPMCC, member Financial Regulatory Authority ("FINRA") and Securities Insurance Protection Corporation ("SIPC"). The Margin Account Statement reflects brokerage transactions executed by JPMS, see "Portfolio Activity Detail". Such transactions are cleared and carried through JPMCC. Please see disclosures located at the end of this statement package for important information relating to each 3.P.Morgan account(s). Change EFTA01547265 In Value (6,061,330.19) 0.00 (8,331.02) 0.00 ($6,069,661.21) Start on Page 4 32 33 38 Client News Please see the enclosed brochure for important information regarding the tax treatment of debt securities beginning on January 1, 2014. Within your asset account, your current amortization election applies to tax-exempt bonds purchased at a premium. Changes in legislation for debt securities may affect this election for securities acquired on or after January 1, 2014. 0000004501.15.0.15.00001.SOUTHAH.20131203 Consolidated Statement Page 1 EFTA01547266 THIS PAGE INTENTIONALLY LEFT BLANK EFTA01547267 For the Period 11/1/13 to 11/30/13 Consolidated Summary INVESTMENT ACCOUNTS Asset Allocation Equity Alternative Assets Cash & Fixed Income Market Value Accruals Market Value with Accruals Beginning Market Value 7,597,418.19 1,648,916.88 24,978,933.42 $34,225,268.49 246,162.33 $34,471,430.82 Ending Market Value 3,146,500.00 1,585,056.38 23,389,909.70 $28,121,466.08 280,303.53 $28,401,769.61 Change In Value (4,450,918.19) (63,860.50) (1,589,023.72) ($6,103,802.41) 34,141.20 ($6,069,661.21) Estimated Current Annual Income Allocation 11% 6% 820,460.53 $820,460.53 83% 100% Equity Cash & Fixed Income Alternative Assets Asset Allocation Current Portfolio Activity EFTA01547268 Beginning Market Value Net Contributions/Withdrawals Income & Distributions Change in Investment Value Ending Market Value Accruals Market Value with Accruals Period Value 34,225,268.49 (6,000,745.77) 42,944.07 (146,000.71) $28,121,466.08 280,303.53 $28,401,769.61 Year-to-Date Value 0.00 20,992,080.03 3,160,348.63 3,969,037.42 $28,121,466.08 280,303.53 $28,401,769.61 This Consolidated Summary shows all of your investments at J.P. Morgan other than investments we hold in trust for you. These investments may be held in custody or investment management account at JPMorgan Chase Bank, N.A. (the "Bank") or in a brokerage or margin account at J.P. Morgan Clearing Corp. ("JPMCC"). Brokerage and margin accounts are non-discretionary and all investment decisions are made by the client. J.P. Morgan Securities LLC ("JPMS") does not provide advice on asset allocation or investment management services, nor do its personnel take discretion over any client accounts. Such advice and services are provided exclusively by the Bank. Consolidated Statement Page 2 EFTA01547269 For the Period 11/1/13 to 11/30/13 Consolidated Summary INVESTMENT ACCOUNT(S) YEAR-TO-DATE Portfolio Activity SOUTHERN FINANCIAL, LLC SOUTHERN FINANCIAL, LLC Total Value Income Summary SOUTHERN FINANCIAL, LLC SOUTHERN FINANCIAL, LLC Total Value Account Number Beginning Market Value 0.00 0.00 $0.00 Account Number Net Contributions/ Withdrawals 23,713,957.52 (2,721,877.49) $20,992,080.03 Income 2,583,872.31 79,109.59 $2,662,981.90 'Unrealized Gain/Loss represents data from the time of account inception to the current statement period. Income Other Income & Receipts 497,366.73 $497,366.73 Income & Distributions 2,583,872.31 576,476.32 $3,160,348.63 Change in Investment Value 1,823,636.25 2,145,401.17 $3,969,037.42 Realized Gain/Loss EFTA01547270 Short-term 1,267,779.10 1,902.00 $1,269,681.10 Long-term (163,538.86) ($163,538.86) Ending Market Value with Accruals 28,401,769.61 0.00 $28,401,769.61 Unrealized Gain/Loss, (256,112.31) ($256,112.31) CONTINUED Consolidated Statement Page 3 EFTA01547271 JPMorgan Chase Bank, N.A. 270 Park Avenue, New York, NY 10017-2014 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Asset Account J.P. Morgan Team William Sheridan Justin Nelson Paul Barrett Janet Young Gina Magliocco Jason Grosse Online access Banker Banker Investment Specialist Client Service Team Client Service Team Client Service Team www.jpmorganonline.com Please see disclosures located at the end of this statement package for important information relating to each J.P.Morgan account(s). 212/464-1321 203/629-3124 212/622-2770 800/634-1318 Table of Contents Account Summary Holdings Equity Alternative Assets Cash & Fixed Income Portfolio Activity Page 2 4 6 8 12 Account Page 1 of 28 Consolidated Statement Page 4 EFTA01547272 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Account Summary Asset Allocation Equity Alternative Assets Cash & Fixed Income Market Value Accruals Market Value with Accruals Beginning Market Value 7,597,418.19 1,648,916.88 24,970,604.58 $34,216,939.65 246,160.15 $34,463,099.80 Ending Market Value 3,146,500.00 1,585,056.38 23,389,909.70 $28,121,466.08 280,303.53 $28,401,769.61 Current Portfolio Activity Beginning Market Value Contributions Withdrawals & Fees Securities Transferred In Securities Transferred Out Net Contributions/Withdrawals Income & Distributions Change In Investment Value Ending Market Value Accruals Market Value with Accruals ($5,992,414.75) 42,941.89 (146,000.71) $28,121,466.08 280,303.53 $28,401,769.61 (5,992,414.75) Period Value 34,216,939.65 Change In Value (4,450,918.19) EFTA01547273 (63,860.50) (1,580,694.88) ($6,095,473.57) 34,143.38 ($6,061,330.19) Year-to-Date Value 0.00 15,877,678.00 (6,429,424.88) 53,240,793.69 (38,975,089.29) $23,713,957.52 2,583,872.31 1,823,636.25 $28,121,466.08 280,303.53 $28,401,769.61 Equity Cash & Fixed Income Estimated Current Annual Income Allocation 11% 6% 820,460.53 $820,460.53 83% 100% Alternative Assets Asset Allocation Account Page 2 of 28 Consolidated Statement Page 5 EFTA01547274 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Account Summary Income Summary Domestic Dividends/Distributions Foreign Dividends Currency Gain/Loss Interest Income Ordinary Income Accrued Interest Current Year Income 45,997.40 (3,055.51) $42,941.89 CONTINUED Current Period Value Year-to-Date Value 672,065.00 108,750.00 881,608.23 1,067,375.92 38,542.06 (184,468.90) $2,583,872.31 Unrealized Gain/Loss To-Date Value ($256,112.31) ST Realized Gain/Loss LT Realized Gain/Loss Realized Gain/Loss Current Period Value 380,969.50 39,312.82 $420,282.32 Year-to-Date Value 1,267,779.10 (163,538.86) $1,104,240.24 Cost Summary Equity Cash & Fixed Income Total 23,377,578.39 Cost 3,000,000.00 $26,377,578.39 Account Page 3 of 28 EFTA01547275 Consolidated Statement Page 6 EFTA01547276 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Equity Summary Asset Categories Non-US Equity European Large Cap Equity Preferred Stocks Total Value Market Value/Cost Market Value Cost Unrealized Gain/Loss Beginning Market Value 4,103,852.74 3,138,600.00 354,965.45 $7,597,418.19 Ending Market Value 0.00 3,146,500.00 0.00 $3,146,500.00 Current Period Value 3,146,500.00 3,000,000.00 146,500.00 Change In Value (4,103,852.74) 7,900.00 (354,965.45) ($4,450,918.19 ) 1196 Current Allocation 1196 Account Page 4 of 28 Consolidated Statement Page 7 EFTA01547277 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Equity Detail Price European Large Cap Equity HSBC CONT BUFF EQ SX5E 08/29/14 80% EKO BARRIER- 4%CPN 17% CAP INITIAL LEVEL-05/24/13 SX5E:2764.29 40432X-FP-1 3PM CONT BUFF EQ SX7P 10/16/14 85% CONTIN BARRIER- 0%CPN 25% CAP INITIAL LEVEL-09/24/13 SX7P:186.77 48126N-VE-4 Total European Large Cap Equity $3,146,500.00 $3,000,000.00 $146,500.00 $0.00 0.00% 101.25 1,000,000.000 1,012,500.00 1,000,000.00 12,500.00 Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. Accrued Div. Yield 106.70 2,000,000.000 2,134,000.00 2,000,000.00 134,000.00 Account Page 5 of 28 Consolidated Statement Page 8 EFTA01547278 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Alternative Assets Summary Beginning Asset Categories Hard Assets Estimated Value 1,648,916.88 Alternative Assets Detail Price Hard Assets SG MARKET PLUS WTI CRUDE 08/05/14 LNKD TO CL1 78.75% BARRIER- 10%CPN ,UNCAPPED INITIAL LEVEL-07/25/13 CL1:105.68 78423E-HS-6 WTI CALL OPTION USD PUT OPTION STRIKE 110.00 EXPIRING 02/14/2014 250,000 BARRELS OTCBDC-PH-K 1.00 250.000 27,187.97 562,500.00 98.50 2,000,000.000 1,970,000.00 2,000,000.00 Quantity Estimated Value Cost Est. Annual Income Accrued Income Ending Estimated Value 1,585,056.38 Change In Value (63,860.50) Current Allocation 6% Account Page 6 of 28 Consolidated Statement Page 9 EFTA01547279 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Price Hard Assets WTI PUT OPTION USD CALL OPTION STRIKE 93.50, KI @ EXP 83.50 EXPIRING 02/14/2014 250,000 BARRELS OTCBDP-KG-F Total Hard Assets $1,585,056.38 $2,000,000.00 Quantity Estimated Value Cost Est. Annual Income Accrued Income 1.00 (250.000) (412,131.59) (562,500.00) Account Page 7 of 28 Consolidated Statement Page 10 EFTA01547280 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Cash & Fixed Income Summary Beginning Asset Categories Cash Non-USD Cash US Fixed Income Non-US Fixed Income Total Value Market Value/Cost Market Value Cost Unrealized Gain/Loss Estimated Annual Income Accrued Interest Yield Market Value 9,584,277.22 396,765.26 12,827,062.10 2,162,500.00 $24,970,604.58 Ending Market Value 10,163,551.01 397,363.54 10,808,995.15 2,020,000.00 $23,389,909.70 Current Period Value 23,389,909.70 23,377,578.39 12,331.31 820,460.53 280,303.53 4.47% Cash Change In Value 579,273.79 598.28 (2,018,066.95) (142,500.00) ($1,580,694.88 ) Current Allocation 36% 1% 39% EFTA01547281 7% 83% US Fixed Income Non-US Fixed Income Non-USD Cash Asset Categories Cash & Fixed Income as a percentage of your portfolio - 83 % Account Page 8 of 28 Consolidated Statement Page 11 EFTA01547282 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 SUMMARY BY MATURITY 1 Cash & Fixed Income 0-6 months 1-5 years' 5-10 years' 10+ years' Total Value 1 SUMMARY BY TYPE Market Value 10,560,914.55 2,020,000.00 1,786,875.00 9,022,120.15 $23,389,909.70 % of Bond Portfolio 48% 8% 7% 37% 100% The years indicate the number of years until the bond is scheduled to mature based on the statement end date. Some bonds may be called, or paid in full, before their stated maturity. Note: P indicates position adjusted for Pending Trade Activity. 1 Cash & Fixed Income Detail Price Cash US DOLLAR COST OF PENDING PURCHASES Total Cash 1.00 1.00 10,808,597.59 (645,046.58) 10,808,597.59 (645,046.58) $10,163,551.01 10,808,597.59 (645,046.58) $10,163,551.01 $0.00 $1,080.85 $103.27 EFTA01547283 0.01% 1,080.85 103.27 0.01% 1 Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield This is the Annual Percentage Yield (APY) which is the rate earned if balances remain on deposit for a full year with compounding, there is no change in the interest rate and all interest is left in the account. Cash & Fixed Income Cash NON USD Cash International Bonds Mortgage and Asset Backed Bonds Total Value Market Value 10,163,551.01 397,363.54 7,027,195.00 5,801,800.15 $23,389,909.70 % of Bond Portfolio 46% 1% 29% 24% 100% Account Page 9 of 28 Consolidated Statement Page 12 EFTA01547284 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Price Non-USD Cash EURO PRINCIPAL CURRENCY US Fixed Income LLOYDS BANK PLC MTN 9 7/8% DEC 16 2021 DTD 12/16/2011 HELD BY EUROCLEAR ISIN XS0717735822 SEDOL B7FQXT1 G4715J-9D-3 BBB /BA1 GLOBAL MORTGAGE SECURITIZATION 2005-A CL B2 5.250% 04/25/2032 DTD 04/28/2005 378961-AV-8 B- /CAA COUNTRYWIDE HOME LOANS 2003-1 CL B1 5.750% 03/25/2033 DTD 01/01/2003 12669D-YS-1 P WASHINGTON MUTUAL MSC MORTGAGE 2004-RA2 CL CB1 VAR RATE 07/25/2033 DTD 06/01/2004 939336-S2-0 D / IMPAC CMB TRUST 2005-2 CL 1M2 VAR RT 04/25/2035 DTD 03/03/2005 45254N-NC-7 CC /CA FREDDIEMAC STRIP 303 CL C34 4.500% 12/15/2040 DTD 02/27/2013 31325U-EY-8 20.75 60,181.02 12,488.77 12,638.01 (149.24) 2,708.14 225.68 5.98% 71.00 1,500,553.84 1,065,423.24 1,046,636.31 18,786.93 13,925.13 34.51 4.69% 82.87 837,722.83 694,229.28 645,046.58 EFTA01547285 49,182.70 58,333.40 (3,407.12) 6.71% 93.80 1,211,860.04 1,136,664.12 1,157,326.33 (20,662.21) 69,681.95 5,806.02 5.97% 93.98 3,078,210.68 2,892,994.74 2,831,953.82 61,040.92 161,606.06 13,467.17 6.04% 1.36 291,846.67 397,363.54 395,426.33 1,937.21 Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield 119.13 1,500,000.00 1,786,875.00 1,627,500.00 159,375.00 148,125.00 141,952.50 6.72% Account Page 10 of 28 Consolidated Statement Page 13 EFTA01547286 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Price US Fixed Income LBG CAPITAL NO.1 PLC 144A VAR RT 12/29/2049 DTD 12/15/2009 HELD BY EUROCLEAR ISIN XS0473106283 SEDOL B51C139 50178R-9A-1 BB- /NA Total US Fixed Income $10,808,995.15 $10,568,601.05 $240,394.10 $694,379.68 $268,742.76 Non-US Fixed Income PETROLEOS DE VENEZUELA S 5% OCT 28 2015 DTD 10/28/2009 HELD BY EUROCLEAR ISIN XS0460546525 SEDOL BSBQGP8 71668A-9B-9 6.46% Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield 107.34 3,000,000.00 3,220,320.00 3,247,500.00 (27,180.00) 240,000.00 110,664.00 7.41% 80.80 2,500,000.00 2,020,000.00 2,250,000.00 (230,000.00) 125,000.00 11,457.50 17.20% Account Page 11 of 28 Consolidated Statement Page 14 EFTA01547287 EFTA01547288 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Portfolio Activity Summary - U S Dollar Beginning Cash Balance Current Transactions INFLOWS Income Contributions Foreign Exchange - Inflows Total Inflows OUTFLOWS ** Withdrawals Foreign Exchange - Outflows Total Outflows TRADE ACTIVITY Settled Sales/Maturities/Redemptions Settled Securities Purchased Total Trade Activity Ending Cash Balance 3,821,510.37 (1,026,650.44) $2,794,859.93 $10,808,597.59 * Year to date information is calculated on a calendar year basis. ** Your account's standing instructions use a HIGH COST method for relieving assets from your position 52,025,483.44 (54,423,915.80) ($2,398,432.36) -4,378,933.30 $4,421,875.19 (5,992,414.75) ($5,992,414.75) Period Value 9,584,277.22 42,941.89 Year-To-Date Value* -1,639,273.91 14,742,310.24 12,231,616.03 $28,613,200.18 (6,429,424.86) (8,976,745.37) ($15,406,170.23) Current Securities Transferred In/Out EFTA01547289 Securities Transferred In Securities Transferred Out Period Value Year-To-Date Value* 52,196,971.85 (38,975,089.29) Current Cost Adjustments Cost Adjustments Total Cost Adjustments Period Value $0.00 Year-To-Date Value* 6,129,741.97 $6,129,741.97 Account Page 12 of 28 Consolidated Statement Page 15 EFTA01547290 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Portfolio Activity Detail - U S Dollar INFLOWS & OUTFLOWS Type Settle Date Selection Method Income 11/1 11/6 Interest Income Accrued Int Paid Description DEPOSIT SWEEP INTEREST FOR 10/01/13 - 10/31/13 @ .01% RATE ON AVG COLLECTED BALANCE OF $8,448,036.23 AS OF 11/01/13 FREDDIEMAC STRIP 303 CL C34 4.500% 12/15/2040 DTD 02/27/2013 @ 21.00 JP MORGAN SECURITIES LLC (BIDL) TRADE DATE 11/01/13 FACE VALUE 6,000,000.00 (ID: 31325U-EY-8) 11/6 11/20 11/25 11/25 11/25 11/25 11/25 Accrued Int Recd Corporate Interest Corporate Interest Accrued Int Recd Accrued Int Recd Corporate Interest Corporate Interest COUNTRYWIDE HOME LOANS 2003-26 CL B1 5.33684% 08/25/2033 DTD 06/01/2003 (ID: 12669E-RR-9) SEQUOIA MORTGAGE TRUST 11 CL B1 VAR RT 12/20/2032 DTD 10/30/2002 (ID: 81744A-AB-4) IMPAC CMB TRUST 2005-2 CL 1M2 VAR RT 04/25/2035 DTD 03/03/2005 (ID: 45254N-NC-7) ENTRY REVERSED ON 12/03/2013 FREDDIEMAC STRIP 303 CL C34 4.500% 12/15/2040 DTD 02/27/2013 (ID: 31325U-EY-8) STRUCTURED ASSET SECURITIES CO 2003-10 CL B2 6.000% 04/25/2033 DTD 03/28/2003 (ID: 86359A-QW-6) COUNTRYWIDE HOME LOANS 2003-1 CL B1 5.750% 03/25/2033 DTD 01/01/2003 (ID: 12669D-YS-1) STRUCTURED ASSET SECURITIES CO 2003-10 CL B2 6.000% 04/25/2033 DTD 03/28/2003 (ID: 86359A-QW-6) Account Page 13 of 28 EFTA01547291 Consolidated Statement Page 16 1,234,236.350 893,188.440 0.005 0.005 5,914.05 4,465.94 860,087.190 0.004 3,440.35 1,310,426.807 1,017,216.177 1,511,007.910 4,828,630.620 0.001 0.001 0.001 0.003 970.97 1,379.60 1,177.80 14,485.89 4,888,811.640 0.00 0.001 (3,055.51) Quantity Cost Per Unit Amount Amount 70.76 EFTA01547292 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Type Settle Date Selection Method Income 11/25 11/29 Corporate Interest Accrued Int Recd Total Income Type Settle Date Selection Method Foreign Exchange - Inflows Spot FX 11/5 11/5 11/6 11/6 11/6 Spot FX Spot FX Spot FX Spot FX Description LINKED CURRENCY TRANSACTION - SELL BUY USD SELL EUR EXCHANGE RATE 1.347200000 DEAL 11/01/13 VALUE 11/05/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL BUY USD SELL EUR EXCHANGE RATE 1.347200000 DEAL 11/01/13 VALUE 11/05/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL BUY USD SELL EUR EXCHANGE RATE 1.347200000 DEAL 11/01/13 VALUE 11/06/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL BUY USD SELL CHF EXCHANGE RATE .913796000 DEAL 11/01/13 VALUE 11/06/13 (ID: OCHFPR-CV-6) LINKED CURRENCY TRANSACTION - SELL BUY USD SELL EUR EXCHANGE RATE 1.347200000 DEAL 11/01/13 VALUE 11/06/13 (ID: OEURPR-CV-1) (137,445.220) (185,166.20) 185,166.20 (324,916.410) (355,567.77) 355,567.77 (271,498.050) (365,762.17) 365,762.17 (283,736.220) (382,249.44) 382,249.44 EFTA01547293 Quantity Cost (263,633.120) (355,166.54) Description GLOBAL MORTGAGE SECURITIZATION 2005-A CL B2 5.250% 04/25/2032 DTD 04/28/2005 (ID: 378961-AV-8) SEQUOIA MORTGAGE TRUST 11 CL B1 VAR RT 12/20/2032 DTD 10/30/2002 (ID: 81744A-AB-4) 1,012,818.787 410.95 $42,941.89 Quantity Cost 3,127,105.920 Per Unit Amount 0.004 Amount 13,681.09 Amount 355,166.54 Account Page 14 of 28 Consolidated Statement Page 17 EFTA01547294 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Type Settle Date Selection Method Foreign Exchange - Inflows Spot FX 11/6 11/6 11/6 11/6 11/6 11/6 11/6 11/6 Spot FX Spot FX Spot FX Spot FX Spot FX Spot FX Spot FX Total Foreign Exchange - Inflows Description LINKED CURRENCY TRANSACTION - SELL EUR EXCHANGE RATE 1.347200000 DEAL VALUE 11/06/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL EUR EXCHANGE RATE 1.347200000 DEAL VALUE 11/06/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL EUR EXCHANGE RATE 1.347200000 DEAL VALUE 11/06/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL GBP EXCHANGE RATE 1.591089000 DEAL VALUE 11/06/13 (ID: OGBPPR-CV-1) LINKED CURRENCY TRANSACTION - SELL EUR EXCHANGE RATE 1.347200000 DEAL VALUE 11/06/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL EUR EXCHANGE RATE 1.347200000 DEAL VALUE 11/06/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL EUR EXCHANGE RATE 1.347200000 DEAL VALUE 11/06/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL GBP EXCHANGE RATE 1.591089000 DEAL VALUE 11/06/13 (ID: OGBPPR-CV-1) $4,378,933.30 (201,432.360) (320,496.81) 320,496.81 BUY USD SELL 11/01/13 BUY USD SELL 11/01/13 BUY USD SELL 11/01/13 BUY USD SELL 11/01/13 BUY USD SELL 11/01/13 BUY USD SELL 11/01/13 BUY USD SELL 11/01/13 BUY USD SELL 11/01/13 EFTA01547295 (172,734.630) (232,708.09) 232,708.09 (245,541.160) (330,793.05) 330,793.05 (289,139.960) (389,529.35) 389,529.35 (225,195.570) (358,306.19) 358,306.19 (279,144.050) (376,062.86) 376,062.86 (257,709.050) (347,185.63) 347,185.63 Quantity Cost (282,021.380) (379,939.20) Amount 379,939.20 Account Page 15 of 28 Consolidated Statement Page 18 EFTA01547296 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Type Settle Date Selection Method Withdrawals 11/26 Description Misc Disbursement TRANSFERRED BY WIRE TO PERSHING LLC FAO SOUTHERN FINANCIAL LLC AS REQUESTED Quantity Cost Amount (5,992,414.75) TRADE ACTIVITY Note: Trade Date Settle Date 11/1 11/6 5/23 11/18 L indicates Long Term Realized Gain/Loss S indicates Short Term Realized Gain/Loss * Settled transaction was initiated in prior statement period and settled in current statement period Type Selection Method Description Settled Sales/Maturities/Redemptions Sale High Cost Sale High Cost COUNTRYWIDE HOME LOANS 2003-26 CL B1 5.33684% 08/25/2033 DTD 06/01/2003 @ 80.00 JP MORGAN SECURITIES LLC (BIDL) FACE VALUE 3,325,000.00 (ID: 12669E-RR-9) TO REVERSE ENTRY OF 08/15/2013 ZIONS BANCORPORATION VAR RT 12/31/2049 DTD 05/21/2013 @ 100.875 1,513,125.00 BROKERAGE 3,750.00 JP MORGAN SECURITIES LLC (BIDL) AS OF 08/15/13 (ID: 989701-BD-8) 5/23 11/18 11/20 11/20 Sale High Cost ZIONS BANCORPORATION VAR RT 12/31/2049 DTD 05/21/2013 @ 101.125 1,516,875.00 BROKERAGE 3,750.00 JP MORGAN SECURITIES LLC (BIDL) (ID: 989701-BD-8) EFTA01547297 Principal Payment SEQUOIA MORTGAGE TRUST 11 CL B1 VAR RT Pro Rata (4,397.390) 12/20/2032 DTD 10/30/2002 PAYMENT A/C PRINCIPAL (ID: 81744A-AB-4) 100.00 4,397.39 (3,243.08) 1,154.31 S (1,500,000.000 ) 100.875 1,513,125.00 (1,500,000.00) 13,125.00 S* 1,500,000.000 100.625 (1,509,375.00) 1,500,000.00 (9,375.00) S* Quantity (1,310,426 807 ) Per Unit Amount 80.00 Proceeds 1,048,341.46 Cost (1,009,028.64) Realized Gain/Loss 39,312.82 L Account Page 16 of 28 Consolidated Statement Page 19 EFTA01547298 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Trade Date Settle Date Type Selection Method Description Settled Sales/Maturities/Redemptions 11/25 11/25 11/20 11/25 11/20 11/25 11/25 11/25 11/25 11/25 11/25 11/25 11/26 11/29 Sale High Cost Sale High Cost Principal Payment IMPAC CMB TRUST 2005-2 CL 1M2 VAR RT 04/25/2035 Pro Rata DTD 03/03/2005 PAYMENT A/C PRINCIPAL (ID: 45254N-NC-7) ENTRY REVERSED ON 12/03/2013 FREDDIEMAC STRIP 303 CL C34 4.500% 12/15/2040 DTD 02/27/2013 @ 21.75 JP MORGAN SECURITIES LLC (BIDL) FACE VALUE 6,000,000.00 (ID: 31325U-EY-8) STRUCTURED ASSET SECURITIES CO 2003-10 CL B2 6.000% 04/25/2033 DTD 03/28/2003 @ 98.00 JP MORGAN SECURITIES LLC (BIDL) FACE VALUE 2,726,000.00 (ID: 86359A-QW-6) Principal Payment COUNTRYWIDE HOME LOANS 2003-1 CL B1 5.750% Pro Rata 6.000% 04/25/2033 DTD 03/28/2003 PAYMENT A/C PRINCIPAL (ID: 86359A-QW-6) 5.250% 04/25/2032 DTD 04/28/2005 PAYMENT A/C PRINCIPAL (ID: 378961-AV-8) SEQUOIA MORTGAGE TRUST 11 CL B1 VAR RT High Cost 12/20/2032 DTD 10/30/2002 @ 74.75 JP MORGAN SECURITIES LLC (BIDL) FACE VALUE 5,701,000.00 (ID: 81744A-AB-4) Total Settled Sales/Maturities/Redemptions $3,821,510.37 ($3,740,071.16) EFTA01547299 $39,312.82 L $42,126.39 S (22,376.310) 03/25/2033 DTD 01/01/2003 PAYMENT A/C PRINCIPAL (ID: 12669D-YS-1) Principal Payment STRUCTURED ASSET SECURITIES CO 2003-10 CL B2 Pro Rata Principal Payment GLOBAL MORTGAGE SECURITIZATION 2005-A CL B2 Pro Rata Sale (33,101.250) (48,895.240) (1,012,818.787 ) 100.00 100.00 74.75 33,101.25 48,895.24 757,082.05 (33,101.25) (44,983.62) (746,953.86) 3,911.62 S 10,128.19 S 100.00 22,376.31 (21,369.38) 1,006.93 S (860,087.190) 98.00 842,885.44 (860,087.19) (17,201.75) S (4,828,630.620 ) 21.75 1,050,227.16 (1,014,012.43) 36,214.73 S Quantity (10,454.070) Per Unit Amount 100.00 Proceeds 10,454.07 Cost (7,291.71) Realized Gain/Loss 3,162.36 S Account Page 17 of 28 EFTA01547300 Consolidated Statement Page 20 EFTA01547301 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Trade Date Settle Date Type Settled Securities Purchased 11/1 Purchase 11/6 Description FREDDIEMAC STRIP 303 CL C34 4.500% 12/15/2040 DTD 02/27/2013 @ 21.00 JP MORGAN SECURITIES LLC (BIDL) FACE VALUE 6,000,000.00 (ID: 31325U-EY-8) Quantity 4,888,811.640 Per Unit Amount 21.00 Market Cost (1,026,650.44) Trade Date Est. Settle Date Type Pending Securities Purchased 11/19 Purchase 11/22 Description WASHINGTON MUTUAL MSC MORTGAGE 2004-RA2 CL CB1 VAR RATE 07/25/2033 DTD 06/01/2004 (ID: 939336-S2-0) Quantity 837,722.827 Per Unit Amount 77.00 Market Cost (645,046.58) Account Page 18 of 28 Consolidated Statement Page 21 EFTA01547302 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Portfolio Activity Summary - Euro Beginning Cash Balance Current Transactions INFLOWS Contributions Foreign Exchange - Inflows Total Inflows OUTFLOWS ** Total Outflows Foreign Exchange - Outflows TRADE ACTIVITY Settled Sales/Maturities/Redemptions Settled Securities Purchased Total Trade Activity Ending Cash Balance 3,344,562.53 $3,344,562.53 -3,742,706.47 (3,349,728.59) $392,977.88 -2,482,602.84 2,482,602.84 291,846.67 * Year to date information is calculated on a calendar year basis. ** Your account's standing instructions use a HIGH COST method for relieving assets from your position 2,771,668.03 (2,506,889.10) 264,778.93 -$0.00 (3,344,562.53) ($3,344,562.53) 1,135,367.75 15,446,863.09 $16,582,230.84 (16,270,722.87) ($16,270,722.87) 837,388.58 0.00 (2,482,602.84) (2,482,602.84) 11,672,282.00 12,509,670.58 (12,482,602.84) (12,482,602.84) Period EFTA01547303 Value -US Dollar Value Local Value Year-To-Date Value* -Current Period Value 291,846.67 Year-To-Date Value* -Account Page 19 of 28 Consolidated Statement Page 22 EFTA01547304 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Portfolio Activity Detail - Euro INFLOWS & OUTFLOWS Type Settle Date Selection Method Foreign Exchange - Outflows Spot FX 11/5 11/5 11/6 11/6 11/6 11/6 11/6 11/6 Spot FX Spot FX Spot FX Spot FX Spot FX Spot FX Spot FX Description LINKED CURRENCY TRANSACTION - SELL EUR EXCHANGE RATE 1.347200000 DEAL VALUE 11/05/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL EUR EXCHANGE RATE 1.347200000 DEAL VALUE 11/05/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL EUR EXCHANGE RATE 1.347200000 DEAL VALUE 11/06/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL EUR EXCHANGE RATE 1.347200000 DEAL VALUE 11/06/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL EUR EXCHANGE RATE 1.347200000 DEAL VALUE 11/06/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL EUR EXCHANGE RATE 1.347200000 DEAL VALUE 11/06/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL EUR EXCHANGE RATE 1.347200000 DEAL VALUE 11/06/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL EUR EXCHANGE RATE 1.347200000 DEAL VALUE 11/06/13 (ID: OEURPR-CV-1) 389,529.350 (389,529.35) (289,139.96) BUY USD SELL 11/01/13 BUY USD SELL 11/01/13 BUY USD SELL 11/01/13 BUY USD SELL 11/01/13 BUY USD SELL 11/01/13 BUY USD SELL 11/01/13 BUY USD SELL 11/01/13 BUY USD SELL 11/01/13 EFTA01547305 376,062.860 (376,062.86) (279,144.05) 347,185.630 (347,185.63) (257,709.05) 379,939.200 (379,939.20) (282,021.38) 185,166.200 (185,166.20) (137,445.22) 365,762.170 (365,762.17) (271,498.05) 382,249.440 (382,249.44) (283,736.22) Quantity 355,166.540 Amount USD Local Value (355,166.54) (263,633.12) Currency Gain/Loss USD Account Page 20 of 28 Consolidated Statement Page 23 EFTA01547306 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Type Settle Date Selection Method Foreign Exchange - Outflows Spot FX 11/6 11/6 Spot FX Description LINKED CURRENCY TRANSACTION - SELL BUY USD SELL EUR EXCHANGE RATE 1.347200000 DEAL 11/01/13 VALUE 11/06/13 (ID: OEURPR-CV-1) LINKED CURRENCY TRANSACTION - SELL BUY USD SELL EUR EXCHANGE RATE 1.347200000 DEAL 11/01/13 VALUE 11/06/13 (ID: OEURPR-CV-1) Total Foreign Exchange - Outflows TRADE ACTIVITY - Euro Note: Trade Date Settle Date 11/1 11/5 11/1 11/5 11/1 11/6 11/1 11/6 11/1 11/6 11/1 11/6 Type Selection Method Description Settled Sales/Maturities/Redemptions Sale High Cost Sale High Cost Sale High Cost Sale High Cost Sale High Cost Sale High Cost VOLKSWAGEN AG PFD ISIN DE0007664039 SEDOL 5497168 (ID: 928662-92-3) FRAPORT AG ISIN DE0005773303 SEDOL 7107551 EFTA01547307 (ID: D3856U-90-0) BNP PARIBAS ISIN FR0000131104 SEDOL 7309681 (ID: F07875-90-3) AUTOGRILL SA ISIN IT000113734 SEDOL 5256206 (ID: T8347V-91-5) CARREFOUR SUPERMARCHE ISIN FR0000120172 SEDOL 5641567 (ID: F13923-90-3) COMPAGNIE DE SAINT-GOBAIN ISIN FR0000125007 SEDOL 7380482 (ID: F80343-95-1) Quantity (1,400.000) (5,000.000) (5,000.000) (21,400.000) (10,500.000) (6,750.000) ($3,344,562.53) $0.00 232,708.090 (232,708.09) (172,734.63) Quantity 330,793.050 Amount USD Local Value (330,793.05) (245,541.16) Currency Gain/Loss USD S indicates Short Term Realized Gain/Loss Per Unit Amount USD Local Value 253.69 188.876 76.45 56.918 73.152 54.463 8.653 6.442 36.185 26.94 51.435 38.294 Proceeds USD Local Value 355,166.54 263,633.12 382,249.44 283,736.22 EFTA01547308 365,762.17 271,498.05 185,166.20 137,445.22 379,939.20 282,021.38 347,185.63 257,709.05 Account Page 21 of 28 Cost USD Realized Local Value Gain/Loss USD (340,287.60) (255,882.59) (327,646.17) (246,524.86) (329,132.36) (247,180.01) (150,262.96) (112,853.41) (329,196.98) (247,262.16) (319,967.65) (240,317.53) 14,878.94 S 54,603.27 S 36,629.81 S 34,903.24 S 50,742.22 S 27,217.98 S Consolidated Statement Page 24 EFTA01547309 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Per Unit Trade Date Settle Date 11/1 11/6 11/1 11/6 11/1 11/6 11/1 11/6 Type Selection Method Description Settled Sales/Maturities/Redemptions Sale High Cost Sale High Cost Sale High Cost Sale High Cost INTESA SANPAOLO SPA ISIN IT0000072618 SEDOL 4076836 (ID: T1700N-90-1) ACCOR SA ISIN FR0000120404 SEDOL 5852842 (ID: F00189-90-6) RENAULT SA ISIN FR0000131906/SEDOL 4712798 (ID: 759994-90-8) WORLD DUTY FREE SPA ISIN IT0004954662 SEDOL BDSV5Z5 (ID: 45545W-91-6) Total Settled Sales/Maturities/Redemptions (USD) Quantity (152,000.000) (8,750.000) (4,000.000) (21,400.000) Amount USD Local Value 2.474 1.842 44.518 33.144 82.698 61.57 10.874 8.096 Proceeds USD Local Value 376,062.86 EFTA01547310 279,144.05 389,529.35 289,139.96 330,793.05 245,541.16 232,708.09 172,734.63 $3,344,562 53 Cost USD Realized Local Value Gain/Loss USD (386,204.45) (280,396.74) (337,612.87) (253,565.27) (317,870.23) (238,727.90) (183,560.52) (137,861.18) ($3,021,741.79) (10,141.59) S 51,916.48 S 12,922.82 S 49,147.57 S $322,820.74 S Account Page 22 of 28 Consolidated Statement Page 25 EFTA01547311 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Portfolio Activity Summary - Pound Sterling Beginning Cash Balance US Dollar Value Current Transactions INFLOWS Total Inflows Foreign Exchange - Inflows $0.00 OUTFLOWS ** Total Outflows Foreign Exchange - Outflows TRADE ACTIVITY Settled Sales/Maturities/Redemptions Settled Securities Purchased Total Trade Activity Ending Cash Balance 678,803.00 $678,803.00 -678,803.00 (675,378.16) $3,424.84 -426,627.93 426,627.93 0.00 * Year to date information is calculated on a calendar year basis. ** Your account's standing instructions use a HIGH COST method for relieving assets from your position 426,627.93 (436,852.04) (10,224.11) -(678,803.00) ($678,803.00) Period Value -Year-To-Date Value* -675,378.16 $675,378.16 (678,803.00) ($678,803.00) Local Value Current Period Value 0.00 Year-To-Date EFTA01547312 Value* -0.00 (426,627.93) (426,627.93) 436,852.04 436,852.04 (426,627.93) (426,627.93) Account Page 23 of 28 Consolidated Statement Page 26 EFTA01547313 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Portfolio Activity Detail - Pound Sterling INFLOWS & OUTFLOWS Type Settle Date Selection Method Foreign Exchange - Outflows Spot FX 11/6 11/6 Spot FX Description LINKED CURRENCY TRANSACTION - SELL BUY USD SELL GBP EXCHANGE RATE 1.591089000 DEAL 11/01/13 VALUE 11/06/13 (ID: OGBPPR-CV-1) LINKED CURRENCY TRANSACTION - SELL BUY USD SELL GBP EXCHANGE RATE 1.591089000 DEAL 11/01/13 VALUE 11/06/13 (ID: OGBPPR-CV-1) Total Foreign Exchange - Outflows TRADE ACTIVITY - Pound Sterling S indicates Short Term Realized Gain/Loss Note: Per Unit Trade Date Settle Date 11/1 11/6 11/1 11/6 Type Selection Method Description Settled Sales/Maturities/Redemptions Sale High Cost Sale High Cost LLOYDS BANKING GROUP PLC ISIN GB0008706128 SEDOL 0870612 (ID: G91101-10-8) COCA-COLA HBC AG ISIN CH0198251305 SEDOL B9895B7 (ID: 588874-91-7) Total Settled Sales/Maturities/Redemptions (USD) Quantity (291,000.000) (11,300.000) Amount USD Local Value 1.231 0.776 28.363 17.88 Proceeds USD EFTA01547314 Local Value 358,306.19 225,195.57 320,496.81 201,432.36 $678,803.00 Cost USD Realized Local Value Gain/Loss USD (343,600.28) (222,817.26) (331,777.88) (214,034.78) ($675,378.16) 14,705.91 S (11,281.07) S $3,424.84 S ($678,803.00) $0.00 320,496.810 (320,496.81) (201,432.36) Quantity 358,306.190 Amount USD Local Value (358,306.19) (225,195.57) Currency Gain/Loss USD Account Page 24 of 28 Consolidated Statement Page 27 EFTA01547315 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Portfolio Activity Summary - Swiss Franc Beginning Cash Balance US Dollar Value Current Transactions INFLOWS Total Inflows Foreign Exchange - Inflows $0.00 OUTFLOWS ** Withdrawals Foreign Exchange - Outflows Total Outflows TRADE ACTIVITY Settled Sales/Maturities/Redemptions Settled Securities Purchased Total Trade Activity Ending Cash Balance 355,567.77 $355,567.77 -355,567.77 (339,220.24) $16,347.53 -324,916.41 324,916.41 0.00 * Year to date information is calculated on a calendar year basis. ** Your account's standing instructions use a HIGH COST method for relieving assets from your position 324,916.41 (313,066.58) 11,849.83 -(355,567.77) ($355,567.77) Period Value -Year-To-Date Value* -13,606,585.71 $13,606,585.71 (0.01) (13,612,414.52) ($13,612,414.53) (324,916.41) (324,916.41) Local Value EFTA01547316 Current Period Value 0.00 Year-To-Date Value* -0.00 12,641,566.58 12,641,566.58 (0.01) (12,653,416.40) (12,653,416.41) Account Page 25 of 28 Consolidated Statement Page 28 EFTA01547317 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Portfolio Activity Detail - Swiss Franc INFLOWS & OUTFLOWS Type Settle Date Selection Method Foreign Exchange - Outflows Spot FX 11/6 Description LINKED CURRENCY TRANSACTION - SELL BUY USD SELL CHF EXCHANGE RATE .913796000 DEAL 11/01/13 VALUE 11/06/13 (ID: OCHFPR-CV-6) TRADE ACTIVITY - Swiss Franc Note: Trade Date Settle Date 11/1 11/6 Type Selection Method Description Settled Sales/Maturities/Redemptions Sale High Cost ADECCO SA-REG ISIN CH0012138605 SEDOL 7110720 (ID: H00392-92-0) Quantity (4,900.000) Quantity 355,567.770 Amount USD Local Value (355,567.77) (324,916.41) Currency Gain/Loss USD S indicates Short Term Realized Gain/Loss Per Unit Amount USD Local Value 72.565 66.509 Proceeds USD Local Value 355,567.77 324,916.41 Cost USD Realized Local Value Gain/Loss USD (339,220.24) (313,066.58) EFTA01547318 16,347.53 S Account Page 26 of 28 Consolidated Statement Page 29 EFTA01547319 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Settled Foreign Exchange Contracts Currency Trade Date Settle Date Counter Currency Trade Related EURO U S DOLLAR EURO U S DOLLAR EURO U S DOLLAR SWISS FRANC U S DOLLAR EURO U S DOLLAR EURO U S DOLLAR EURO U S DOLLAR EURO U S DOLLAR POUND STERLING U S DOLLAR EURO U S DOLLAR EURO U S DOLLAR EURO U S DOLLAR Nov. 1 13 Nov. 5 13 Nov. 1 13 Nov. 5 13 Nov. 1 13 Nov. 6 13 Nov. 1 13 Nov. 6 13 Nov. 1 13 Nov. 6 13 Nov. 1 13 Nov. 6 13 Nov. 1 13 Nov. 6 13 Nov. 1 13 Nov. 6 13 Nov. 1 13 Nov. 6 13 Nov. 1 13 Nov. 6 13 EFTA01547320 Nov. 1 13 Nov. 6 13 Nov. 1 13 Nov. 6 13 EUR USD EUR USD EUR USD CHF USD EUR USD EUR USD EUR USD EUR USD GBP USD EUR USD EUR USD EUR USD Amount Counter Amount Contract Rate Revaluation Rate (263,633.12) 355,166.54 (283,736.22) 382,249.44 (271,498.05) 365,762.17 (324,916.41) 355,567.77 (137,445.22) 185,166.20 (282,021.38) 379,939.20 (257,709.05) 347,185.63 (279,144.05) 376,062.86 (225,195.57) 358,306.19 (289,139.96) 389,529.35 (245,541.16) EFTA01547321 330,793.05 (172,734.63) 232,708.09 1.347200 1.347200 1.347200 0.913796 1.347200 1.347200 1.347200 1.347200 1.591089 1.347200 1.347200 1.347200 1.347200 1.347200 1.347200 0.913796 1.347200 1.347200 1.347200 1.347200 1.591089 1.347200 1.347200 1.347200 Contracted Base Amount USD 355,166.54 382,249.44 365,762.17 355,567.77 185,166.20 379,939.20 347,185.63 376,062.86 358,306.19 389,529.35 330,793.05 232,708.09 Revalued Amount USD (355,166.54) (382,249.44) (365,762.17) (355,567.77) (185,166.20) (379,939.20) (347,185.63) (376,062.86) EFTA01547322 (358,306.19) (389,529.35) (330,793.05) (232,708.09) Currency G/L Account Page 27 of 28 Consolidated Statement Page 30 EFTA01547323 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Trade Date Trade Related POUND STERLING U S DOLLAR Nov. 1 13 Nov. 6 13 GBP USD (201,432.36) 320,496.81 1.591089 1.591089 320,496.81 (320,496.81) Currency Settle Date Counter Currency Amount Counter Amount Contract Rate Revaluation Rate Contracted Base Amount USD Revalued Amount USD Currency G/L Account Page 28 of 28 Consolidated Statement Page 31 EFTA01547324 JPMorgan Chase Bank, N.A. 270 Park Avenue, New York, NY 10017-2014 SOUTHERN FINANCIAL LLC ACCT. For the Period 11/1/13 to 11/30/13 Derivatives Account J.P. Morgan Team William Sheridan Justin Nelson Janet Young Gina Magliocco Jason Grosse Online access Banker Banker Client Service Team Client Service Team Client Service Team www.jpmorganonline.com No market value or activity to report during this period Please see disclosures located at the end of this statement package for important information relating to each J.P.Morgan account(s). 212/464-1321 203/629-3124 800/634-1318 Account Page 1 of 1 Consolidated Statement Page 32 EFTA01547325 THIS PAGE INTENTIONALLY LEFT BLANK EFTA01547326 JPMorgan Chase Bank, N.A. 270 Park Avenue, New York, NY 10017-2014 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Asset Account J.P. Morgan Team William Sheridan Justin Nelson Paul Barrett Janet Young Gina Magliocco Jason Grosse Online access Banker Banker Investment Specialist Client Service Team Client Service Team Client Service Team www.jpmorganonline.com Please see disclosures located at the end of this statement package for important information relating to each J.P.Morgan account(s). 212/464-1321 203/629-3124 212/622-2770 800/634-1318 Table of Contents Account Summary Portfolio Activity Page 2 4 Account Page 1 of 5 Consolidated Statement Page 33 EFTA01547327 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Account Summary Asset Allocation Cash & Fixed Income Market Value Accruals Market Value with Accruals Beginning Market Value 8,328.84 $8,328.84 2.18 $8,331.02 Current Portfolio Activity Beginning Market Value Contributions Withdrawals & Fees Securities Transferred In Securities Transferred Out Net Contributions/Withdrawals Income & Distributions Change In Investment Value Ending Market Value ($8,331.02) 2.18 $0.00 (8,331.02) Period Value 8,328.84 Ending Market Value 0.00 $0.00 0.00 $0.00 Change In Value (8,328.84) ($8,328.84) (2.18) ($8,331.02) Year-to-Date Value 0.00 13,977,308.99 (14,754,723.93) 46,295,038.08 (48,239,500.63) ($2,721,877.49) EFTA01547328 576,476.32 2,145,401.17 $0.00 Estimated $0.00 Current Annual Income Allocation Account Page 2 of 5 Consolidated Statement Page 34 EFTA01547329 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Account Summary Income Summary Domestic Dividends/Distributions Foreign Dividends Currency Gain/Loss Interest Income Income Partnership/Alt Asset Distributions Other Income & Receipts CONTINUED Current Period Value 2.18 Year-to-Date Value 23,096.45 973.26 4,528.25 50,511.63 $2.18 $79,109.59 497,366.73 $497,366.73 ST Realized Gain/Loss Realized Gain/Loss Current Period Value Year-to-Date Value 1,902.00 $1,902.00 Account Page 3 of 5 Consolidated Statement Page 35 EFTA01547330 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Portfolio Activity Summary - U S Dollar Beginning Cash Balance Current Transactions INFLOWS Income Contributions Foreign Exchange - Inflows Total Inflows OUTFLOWS ** Withdrawals Tax Payments Total Outflows TRADE ACTIVITY Settled Sales/Maturities/Redemptions Settled Securities Purchased Total Trade Activity Ending Cash Balance $0.00 $0.00 * Year to date information is calculated on a calendar year basis. ** Your account's standing instructions use a HIGH COST method for relieving assets from your position 1,000,938.62 (800,000.00) $200,938.62 -$2.18 (8,331.02) ($8,331.02) Period Value 8,328.84 2.18 Year-To-Date Value* -571,948.07 13,977,308.72 4,528.25 $14,553,785.04 (14,754,480.34) (243.32) ($14,754,723.66) Current Cost Adjustments Cost Adjustments Total Cost Adjustments Period Value EFTA01547331 $0.00 Year-To-Date Value* (201,768.75) ($201,768.75) Current Securities Transferred In/Out Securities Transferred In Securities Transferred Out Period Value Year-To-Date Value* 46,295,038.08 (48,239,500.63) Account Page 4 of 5 Consolidated Statement Page 36 EFTA01547332 SOUTHERN FINANCIAL, LLC ACCT. For the Period 11/1/13 to 11/30/13 Portfolio Activity Detail - U S Dollar INFLOWS & OUTFLOWS Type Settle Date Selection Method Income 11/1 Div Domest Description 3PM PRIME MMKT FD - INSTL FUND 829 FOR OCT @ VARIOUS RATES FROM 0.0000282% TO 0.0000856% (ID: 4812A2-60-3) Quantity Cost 199,036.620 Per Unit Amount Amount 2.18 Type Settle Date Selection Method Withdrawals 11/4 Description Misc Disbursement TRANSFERRED BY WIRE TO THE BANK OF NEW YORK MELLON FAO SOUTHERN FINANCIAL LLC AS REQUESTED Quantity Cost Amount (8,331.02) Account Page 5 of 5 Consolidated Statement Page 37 EFTA01547333 THIS PAGE INTENTIONALLY LEFT BLANK EFTA01547334 J.P. Morgan Securities LLC SOUTHERN FINANCIAL, LLC 383 Madison Avenue, New York, NY 10179 ACCT. For the Period 11/1/13 to 11/30/13 Margin Account J.P. Morgan Team William Sheridan Justin Nelson Paul Barrett Janet Young Gina Magliocco Jason Grosse Online access Banker Banker Investment Specialist Client Service Team Client Service Team Client Service Team www.jpmorganonline.com Transactions cleared and carried through J.P. Morgan Clearing Corp. Three Chase Metrotech Center, Brooklyn, NY 11245-0001, (347) 643-2578 Please see disclosures located at the end of this statement package for important information relating to each J.P.Morgan account(s). 212/464-1321 203/629-3124 212/622-2770 800/634-1318 Table of Contents Account Summary Portfolio Activity Page 2 3 Account Page 1 of 4 Consolidated Statement Page 38 EFTA01547335 SOUTHERN FINANCIAL, LLC Account Summary MARGIN Cash Asset Allocation Cash & Fixed Income Market Value 0.00 Margin Market Value 0.00 Short Market Value 0.00 Market Value Annual Income Allocation 0.00 Total Estimated Current ACCT. For the Period 11/1/13 to 11/30/13 Account Page 2 of 4 Consolidated Statement Page 39 EFTA01547336 SOUTHERN FINANCIAL, LLC Portfolio Activity Summary Beginning Cash Balance Transactions INFLOWS Total Inflows Contributions OUTFLOWS ** Total Outflows Withdrawals Ending Cash Balance ACCT. For the Period 11/1/13 to 11/30/13 Current Period Value 0.00 33.49 $33.49 (33.49) ($33.49) $0.00 * Year to date information is calculated on a calendar year basis. ** Your account's standing instructions use a HIGH COST method for relieving assets from your position Year-To-Date Value* -30,066.98 $30,066.98 (30,066.98) ($30,066.98) -Account Page 3 of 4 Consolidated Statement Page 40 EFTA01547337 SOUTHERN FINANCIAL, LLC Portfolio Activity Detail INFLOWS & OUTFLOWS Type Settle Date Selection Method Contributions 11/18 Misc Receipt Description JOURNAL FROM TYPE 1 TO 2 SUB-ACCOUNT: MGN Quantity Cost Amount 33.49 ACCT. For the Period 11/1/13 to 11/30/13 Type Settle Date Selection Method Withdrawals 11/18 Description Misc Disbursement JOURNAL FROM TYPE 1 TO 2 SUB-ACCOUNT: CSH Quantity Cost Amount (33.49) Account Page 4 of 4 Consolidated Statement Page 41 EFTA01547338 For the Period 11/1/13 to 11/30/13 For your convenience we have combined statement(s) for activity you conduct through J.P. Morgan in one package. Below are important disclosures relating to these different accounts. These statements may relate to various account types. Some of the disclosures are applicable to all of your accounts. For ease of reference the disclosures applicable to a particular type of account have been grouped together by descriptive headers. IMPORTANT GENERAL INFORMATION APPLICABLE TO ALL OF YOUR ACCOUNT(S) Important Information about Pricing ,Valuations, Estimated Annual Income, and Estimated Yield Market value information (including without limitation, prices, exchange rates, accrued income and bond ratings) furnished herein, some of which has been provided by pricing sources that J.P. Morgan believes to be reliable, is not guaranteed for accuracy but provided for informational purposes and is furnished for the exclusive use of the client. The current price is the value of the financial asset share, unit or contract as priced at the close of the market on the last day of the statement period or the last available price. All values provided for structured yield deposits (for example, JPMorgan London Time Deposits) reflect the original deposit amount only. The value for Real Estate, Mineral Interests and Miscellaneous Assets may not reflect the most current value of the asset. Important information regarding Auction Rate Securities (ARS). ARS are debt or preferred securities with an interest or dividend rate reset periodically in an auction. Although there may be daily, weekly and monthly resets, there is no guarantee that there will be liquidity. If there are not enough bids at an auction to redeem the securities available for sale, the result may be a failed auction. In the event of a failed auction, there is no assurance that a secondary market will develop or that the security will trade at par or any other price reflected on statements and online. Accordingly, investors should not rely on pricing information appearing in their statements or online with respect to ARS. When J.P. Morgan is unable to obtain a price from an internal or outside source for a particular ARS, the price column on your statement will indicate "unpriced". Valuations of over-the-counter derivative transactions, including certain derivatives-related deposit products, have been prepared on a mid-market basis. These valuations are sourced from the various issuers of the securities or they are sourced from a third party valuation provider. J.P. Morgan expressly disclaims any responsibility for (1) the accuracy of the models or estimates used in deriving the valuations, (2) any errors or omissions in computing or disseminating the valuations, and (3) any uses to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. Please refer to the trade confirmation for details of each transaction. Certain assets, including but not limited to, pooled and private investments, non-publicly traded and infrequently traded securities, derivatives, partnership interests and tangible assets are generally illiquid, the value of such asset may have been provided to us by third EFTA01547339 parties who may or may not be independent of the issuer or manager. Such information is reflected as of the last date provided to us, and is not independently verified. In cases where we are unable to obtain a current market value from an internal or outside source for a particular security, the price column on your statement will indicate "unpriced". Although such securities may have value, please note that the value of a security indicated as "unpriced" will not be included in your overall current market value as reflected on the statement. J.P. Morgan makes no representation, warranty or guarantee, express or implied, that any quoted value represents the actual terms at which securities could be bought or sold or new transactions could be entered into, or the actual terms on which existing transactions or securities could be liquidated. Such values may only be indicative. When we are unable to obtain a current value from an internal or outside source for a particular security, the price column on your statement will indicate "unpriced". If a partial call is made with respect to an issue of securities included in your Accounts we will allocate the call by a method we deem fair and equitable. To the extent applicable, please note the following regarding estimated annual income (EAI) and estimated yield (EY): EAI and EY for certain types of securities could include a return of principal or capital gains in which case the EAI and EY would be overstated. EAI and EY are estimates and the actual income and yield might be lower or higher than the estimated amounts. EY reflects only the income generated by an investment. It does not reflect changes in its price, which may fluctuate. Offshore Deposits - London and Nassau Disclosures Page 1 of 4 EFTA01547340 For the Period 11/1/13 to 11/30/13 Deposits in Foreign Branches are not insured by the FDIC or any other Agency of the Federal Government; amounts in such foreign accounts do not have the benefit of any domestic preference applicable to U.S Banks; certain Foreign accounts are considered reportable to the Internal Revenue Service on a Report of Foreign Bank and Financial Accounts (TD F 90-22.1). Bank products and services are offered through JPMorgan Chase Bank, N.A. ("JPMCB") and its banking affiliates. Securities are offered by J.P.Morgan Securities LLC ("JPMS") and, to the extent noted below, cleared through J.P. Morgan Clearing Corp. ("JPMCC"). Neither JPMS, nor JPMCC is a bank and are each separate legal entities from its bank or thrift affiliates. Investment Products: Not FDIC Insured -No Bank Guarantee -May Lose Value Fund manager disclosure information available upon request If you have an investment account that is managed by an SEC-Registered Investment Advisor, J.P. Morgan will provide a copy of the advisor's Form ADV II or brochure upon written request. These statements are not official documents for income tax reporting purposes and should not be relied upon for such purposes, including determination of income, cost basis, amortization or accretion, or gain/loss. Such information, which may be inaccurate, incomplete or subject to updating, should be confirmed with your records and your tax advisor. Please take the steps indicated below if you think statement(s) are incorrect or contact your J.P.Morgan team if you require additional information about a transaction on your statement(s). IMPORTANT ADDITIONAL INFORMATION APPLICABLE ONLY TO YOUR ASSET ACCOUNT(S) (LINKED TO JPMS) Your Asset Account consists of a bank account that custodies assets linked to a brokerage account through which securities transactions are executed. As a result, the Asset Account statement(s) reflect brokerage transactions executed through JPMS but (except for exchange listed options) held in custody at JPMCB. Securities purchased or sold through JPMS in U.S. markets (other then mutual funds) are cleared through an affiliate of JPMS, in non-U.S. markets securities are cleared through JPMS. Positions in exchange-listed options are held by JPMCC. For your convenience, however, positions in exchange-listed options are presented in Asset Account statement(s) together with other assets held in such account(s). All pertinent information about your settled and pending purchases and sales effected through your JPMS account during the period covered by these statement(s), is summarized in the "Trade Activity" portion of the statement(s). In Case of Other Errors or Questions About Your Asset Account Statement(s) Please review your statement(s) and promptly report any inaccuracy or discrepancy including possible unauthorized trading activity, unrecorded dividend payments, unaccounted cash positions, EFTA01547341 improper payments or transfers in writing to both the introducing broker, JPMS and the clearing firm, JPMCC at the addresses shown on your statement(s). Any oral communication should be re-confirmed in writing to further protect your rights, including your rights under the Securities Investor Protection Act (SIPA). If you have any questions please contact your J.P.Morgan team. In your written communication, please provide the following information: (1) your name and account number; (2) the dollar amount of the suspected error; and (3) a description of the error and explanation, if you can, why you believe there is an error. If you need more information, you must describe the item you are unsure about. We must receive your written communication no later than 30 days after the statement on which the error or problem appeared is sent or made available. If you do not so notify us, you agree that the statement activity and account balance(s) are correct. JPMCC and JPMS are members of the Securities Investor Protection Corp ("SIPC"), a not-for-profit membership corporation funded by broker-dealers registered with the Securities and Exchange Commission. Securities and cash held for a customer at JPMCC are protected by SIPC up to $500,000 per customer, which includes up to $250,000 of protection for cash. SIPC does not protect against losses from fluctuations in the value of the securities. Assets held in custody by JPMCB are not subject to SIPC. You may obtain information about SIPC, including the SIPC Brochure, on their website, at "www.sipc.org" or by contacting them at (202) 371-8300. In Case of Errors or Questions About Your Electronic Transfers. Disclosures Page 2 of 4 EFTA01547342 For the Period 11/1/13 to 11/30/13 Contact your J.P. Morgan Team at one of the telephone numbers on the front of your statements or write us at J.P. Morgan, 500 Stanton Christiana Road, 1/OPS3, Newark, DE 19713-2107 as soon as you can, if you think your statement is wrong or if you need more information about a transfer on the statement. We must hear from you no later than 60 days after we sent you the FIRST statement on which the error or problem appeared. (1) Tell us your name and account number. (2) Describe the error or the transfer you are unsure about, and explain as clearly as you can why you believe it is an error or why you need more information. (3) Tell us the dollar amount of the suspected error. We will investigate your complaint and will correct any error promptly. If we take more than 10 business days (or 20 business days for new accounts) to do this, we will credit your account for the amount you think is in error, so that you will have the use of the money during the time it takes us to complete our investigation. In Case of Errors or Questions About Non-Electronic Transfers (Checks or Deposits) Contact JPMorgan Chase Bank, N.A. ("JPMCB") Member FDIC immediately if a statement is incorrect or if you need more information about any non- electronic transactions (checks or deposits) on this statement. If any such error appears, you must notify the bank in writing as soon as possible after your statement was made available to you. For more complete details, see the applicable account agreements and appendices that govern your account. Deposit products and services are offered by JPMCB Member FDIC. You must promptly advise your J.P.Morgan representative of material changes in your investment objectives or financial situation or if you wish to modify the management of your account. Unless you inform otherwise, your J.P.Morgan representative will consider the information currently in its files to be complete and accurate. With reference to JPMS and JPMCC: A financial statement of this organization is available to you for personal inspection at its offices, or a copy will be mailed to you upon written request. You should have received (or have made available to you) separate confirmations for each securities transaction. All transactions are subject to the terms and conditions stated on the reverse side of such confirmations and are subject to the constitution, by-laws, customs and interpretations of the marketplace where executed and governed by and construed in accordance with the laws of the State of New York and all applicable federal laws and regulations. Further information with respect to commissions and other charges related to the execution of transactions, including options transactions, has been included in confirmations that were previously furnished or have made available to you. Upon written request, JPMS will promptly supply you with the latest information. IMPORTANT ADDITIONAL INFORMATION APPLICABLE ONLY TO YOUR MARGIN ACCOUNT(S) All positions in your Margin Account Portfolio(s) are held in custody at J.P. Morgan Clearing Corp. ("JPMCC"), Three Chase Metrotech Center, Brooklyn, NY 11245-001, (347) 643-2578. EFTA01547343 If you have a margin account as permitted by law we may use certain securities in such account for, among other things, settling short sales and lending the securities for short sales, and as a result may receive compensation in connection therewith. Please keep the following in mind when using a statement to track your brokerage activity in a margin account: The statement combines your general margin account with the special memorandum account required by Section 220.6 Regulation T. As required by Regulation T, a permanent record of your separate account is available upon your request. Free credit balances in your margin account(s) are not segregated and may be used in the operation of JPMCCs business, subject to the limitations of SEC Rule 15c3-3. Unless otherwise noted, JPMCC or its agents and depositories will hold your securities. Upon your demand, JPMCC will pay to you the amount of your free credit balance, and will deliver to you fully-paid securities held on your behalf. Interest will be charged on any debit balance; the method of calculating interest is described in a letter sent to all margin customers. PRODUCT RELATED DISCLOSURE: IMPORTANT INFORMATION ABOUT ALTERNATIVE INVESTMENTS: FOOTNOTES 1 - 4 Private Equity, Hedge Funds, Exchange Funds, Real Estate and Other Alternative Assets 1. Direct private equity investments and pooled private investments (e.g., interests in limited partnerships and limited liability companies) are generally illiquid securities. Values are estimates only and are not warranted for accuracy or completeness. Values do not represent the actual terms at which transactions or securities could be bought or sold or new transactions could be entered into or the actual terms on which existing transactions could be liquidated as of the date of this statement. Disclosures Page 3 of 4 EFTA01547344 For the Period 11/1/13 to 11/30/13 Direct private equity investments are generally valued at cost, unless there is an active secondary trading market in the securities, in which case, direct private equity investments are valued using market prices as of the close of the last business day for this statement period. Pooled private equity investments are valued according to the General Partner's or Manager's stated methodology. Please refer to the limited partnership agreement, limited liability company agreement or other operative documentation for each investment for the specific valuation methodology used by the General Partner or Manager for that investment or for your Investment Management or Trust account contact your J.P. Morgan team. J.P. Morgan expressly disclaims any responsibility for (1) the accuracy of the information and the methodology used by the General Partner or Manager in deriving valuations, (2) any errors or omissions in compiling or disseminating the valuations, and (3) any use to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. Hedge funds generally calculate the price (the "Net Asset Value" or " NAV"), 10-15 business days following the last business day of the month. For that reason, hedge fund NAVs shown will generally be the NAV of the month preceding this statement period. In general, the NAV is stated net of management and incentive fees. The NAV is calculated according to the General Partner's or Manager's stated methodology. Please refer to the limited partnership agreement, limited liability company agreement or other operative documentation for each hedge fund for the specific methodology used by the General Partner or Manager for that hedge fund or for your Investment Management or Trust account contact your J.P. Morgan team. J.P. Morgan expressly disclaims any responsibility for (1) the accuracy of the information and the methodology used by the General Partner or Manager in deriving valuations, (2) any errors or omissions in compiling or disseminating the valuations, and (3) any use to which the valuations are put. Valuations are provided for information purposes only and are intended solely for your own use. These statements do not provide tax reporting on private investments. Please continue to rely upon the General Partner or Manager of the investment vehicle for this information or for your Investment Management or Trust account contact your J.P. Morgan team. 2. The 'Capital Called Since Inception USD' and 'Cash/Security distributions Since Inception USD' columns are updated monthly to reflect activity (capital calls and distributions), if any. 3. Hedge funds generally allow subscriptions on a monthly or quarterly basis. An interest in a hedge fund or hedge fund of funds is generally as of the first business day of the subscription period. Due to early funding requirements by the applicable fund, your account may be debited for the subscription amount prior to the subscription date. Please refer to the applicable hedge fund's operative documentation for further details or for your Investment Management or Trust account contact your J.P. Morgan team. Hedge fund redemptions are generally on a monthly, quarterly or annual basis EFTA01547345 but can sometimes be subject to a multi-year lockup before a redemption is permitted. For redemptions, there is generally a notification period that can be a long interval before the actual redemption date. Redemption proceeds are generally paid 15 calendar days after the final NAV is issued, but can be subject to a holdback of a portion of the proceeds until an annual audit of the Fund has been completed. Please refer to the applicable hedge fund's operative documentation for further details or for your Investment Management or Trust account contact your J.P. Morgan team. Global Access Portfolios share certain characteristics with hedge funds. In particular, an investor who withdraws from a Global Access Portfolio will not receive the withdrawal proceeds in their entirety until 30-60 days after completion of the Portfolio's audit, which may be 18 months or longer after the redemption date. Interest might not be paid on any proceeds pending distribution. These restrictions apply even if the investor's account at JPMorgan is closed. The Confidential Private Placement Memorandum and applicable Supplements contain other important information about the Global Access Portfolios and are available upon request or for your Investment Management or Trust account contact your J.P. Morgan team. 4. Alternative assets may include publicly available mutual funds that utilize non-traditional investment management strategies, for example, strategies commonly employed by hedge funds. Mutual funds generally calculate the price (the "Net Asset Value" or "NAV") on a daily basis and mutual fund NAVs shown on your statement generally will be the NAV as of the close of the last business day for this statement period. Please refer to the applicable mutual fund prospectus for further details. If the applicable mutual fund is a JPMorgan Fund, please refer to disclosures on this statement concerning JPMorgan Funds for other important information. Disclosures Page 4 of 4 EFTA01547346