DS9 Document EFTA01121574

GI Global imammeat ounerturvit Global Investment Opportunities Group Account Position and MTM Summary (Open Positions) Prepared for Southern Financial LIC as of April 30. 2013 LP, Morgan Securities LLC. Current Mt & Commodity rates USI)MXN USDARS USEICHF 12.1378 5.1875 0.9295 XAUUSD USDKRW USDC-AD 1476.89 1101.28 1.0072 GRUSD EURUSD USDTRY 1.5533 1.3167 1.792 USDIPY USDEIRL USONOit 97.440 2.0013 53696 trade Date 11.0ct.11 15-Jun.12 24-3an.13 14.Feb-12 24-Oct-12 12-Jul-10 17-May-12 14.Feb-12 23-Apr-13 Symbol TEF TEF ARIA ARIA Df DAG FB BUB GE Shares (1.5001 (39) 9,000 7,535 25,000 50,000 17,500 2,095 23,000 • Intrad via Womb. Company Telefonica Sa-Spon Mr Telefonica Sa-Silon Mr Ariad Pharmaceuticals Inc Ariad Pharmaceuticals Inc Dean Feeds Co Pvvrilis Db Agri Double Long Facebook Inc-A Biogen Idea Inc General Electric Co Currency USD [repeated 8 times] Industry Communications Communications 'mum«, Non.cydic [repeated 3 times] Funds Communications 'mum«, Norpcydir Industrial Dividend Yield 0.00% [repeated 8 times] 3.41% Cost Basis (5) $30.000 $488 (5176.400) (5114.600) (5470.4501 (5352.550) (5665.000) (5250.455) (5495.1901 Market Value (S) ($21.855) (5568) 5160.830 5134450 5478300 5499.450 5485.958 5458,658 5512,670 Entry Price (Local) 20.05 12.52 19.60 1521 11382 7.05 38.00 119.55 21.53 Current Price (Local) 14.57 14.57 17.87 17.87 19.14 9.99 27.77 218.93 22-29 MTM 5%225 (580) (515,570) 520,051 5(.050 5146,900 ($179,043) 5208,203 $17,480 truchsred Nota Manual Pricing via .IPMorgan Investment Bank as of day trade Date Maturity Face Amount Long Description Cost Basis (5) Market value (5) Interest Received Entry Price (5) Current Price (5) MTM 8-Nov-12 22-Nov-13 1.000.000 Gs Note 11/22)13 Lnkd To Man Vs Usd 85%tlarriee 5% Atrnfpn-22.9%Martin (51.030,000) $1,137,180 $0 $100.00 $113.72 $137,180 9-Jan-13 24-Jan-14 1.000,000 Ilsbc Ren Inked To Cnh Vs Usd Skiev. 500%Maxrtrn 01/09/13 Initial Strate26.1995 ($1,000,000) 51.010,800 $0 5100.00 $101.08 $10,800 14-Feb-13 20.Aug-14 1,000,000 MS Market Plus MRK 08420x1480% EKO Barrier 3.5% CPN, Uncapped Initial Level (51,000.000) $1,120,350 $0 5100.00 $112.04 $120,350 5-Apr-12 16-Apr-15 1,500000 Meritor CLN 6200% CPN 04/16/2015 Dtd 04/1612012 (51500.000) $1,573,800 $69.1388 5100.00 $104.92 $143,688 U.S. Fixed Income • Conrad via Bloom Trade Data Maturity Mat Amount Issuer 58.P Rating Nest Call Date Coupon Peirdipal Cast Market Value Total In! Accrued Thad to Worst Entry Price Current Price MIM 22-Feb-12 15-lan-2018 1,000,000 Nrg Energy Inc BB- WA 7.625% (51,C0 ,560, $90,653 39'% 100.15 $115.88 5347,913 22-Oct-12 01-Apr-2019 1,000,000 Headnaters Inc 8+ Y1/2015 7.625% (51,035,000) 51.097,500 $39,819 4.71% $103.50 5108.75 $92.319 22-Oct-12 15.May.2019 400,000 Earthlink Inc B- 5/192015 8.875% (5414.000) $425,300 $18.539 7.04% $103.50 510623 529,839 23-Oct-12 15.May.2019 600,000 Earthlink Inc B- 5/192015 8.875% (5619,500) $637,950 $27,660 7.04% $103.25 510623 $46,110 1.Oct-12 01-Jun-2019 1,000,000 Kindred Healthcare Inc B- 6/1/2010 8250% (5996.250) $1,037,500 $47,896 6.96% $99.63 $10335 689,146 8-Nov-12 01-Jun-2019 1,000,000 Kindred Healthcare Inc B- 61112014 8250% (5970,000) $1,037,500 $39,417 6.96% $97.00 $10335 $106,917 24-Jan-13 15-Feb-2020 1,500000 Servicemaster Company B- 2/15..2015 8000% (51,595.625) $1.616,250 $32,000 6.10% $106.38 $107.75 $52,625 25.Feb.13 15-Feb-2020 1,000.000 Servicemaster Company B- 2/15..2015 8000% (51,070.003) $1,077,500 $14444 6.10% $107.00 $107.75 $21,944 3-Apr-13 10-Apr-2023 300,000 Barclays Bank Plc 888- 4/1012018 7.750% (5300,000) $308,550 $1,744 7.05% $100.00 $102.85 $10,294 15-Jun.11 Perpetual 2,500000 1pinorgan Chase 8 Co 88B 4/30/2018 7.900% (52,702.425) $2,910,500 $370,313 422% $108.10 $116.42 $578,388 1i-Jump Perpetual 2.500.000 1pinorgan Chase 8 Co BBB 4/30/2018 7.900% (52,702.425) $2,910,500 $370,313 422% $108.10 $116.42 $578,388 10-lan.11 Perpetual 2.000.000 Bank Of America Corp BB. 5/15/2018 8125% (52,081.180) $2,280,000 $374,653 4.95% $104.06 $114.00 $573,073 30-lan.12 Perpetual 1000000 Southern Cal Edison BBB- 2/1/2022 6250% (52,999.970) 53.383,370 $234,375 4-47% $100.00 $112.78 5617,775 27-Jun.12 Perpetual 2.000,000 General Dec Cap Carp 645/2022 7.125% (52,122.920) $2,313,000 $119,938 4.97% $106.15 $115.65 5310,018 EFTA01121574 GIO Global intammeni fitsnorimaltin Global Investment Opportunities Group Account Position and MTM Summary (Open Positions) Prepared for Southern Financial LLC as of April 30, 2013 LP. Morgan SetaeMet LLC. Current EX & Commodity rates USOMXII USDARS USOCSIF 12.1378 5.1875 0.9295 KAUUSID USDKRW USDCAD 1476.89 1101.28 1.0072 GBPUSD EURUSD USDTRY 1.5533 1.3167 1.792 USDIPY USORRL USONOX 97.440 2.0013 53694 nternatIonal Fixed Income • Intrad via Leconte Trade Date Maturity Face Amount Issue S&P Rating Currency Coupon Principal Cost (Si Market value (5) Total Int. Accived (S) Yield to Worst Entry Price (Local) Current Price (Local) MTM 9-Ort-12 02-Nov-2017 500,000 Pevoleos De Venezuela r USD 8300% (5440.250) 5483,750 $23,729 9.40 88.05 96.75 ,229 11-Oct-12 02-Nov-2017 1,000.000 Penises De Venezuela S 8* USD 8300% ($897.500) $967,500 $46,986 9.40% 89.75 96.75 $116,986 10-May-12 16.Dec-2021 1,500.000 Lloyds7,6 Bank Plc 888- USD 9.875% (51,627,500) 51815,000 $141010 3.57% 108.50 121.00 $331,510 26-Jan-12 15.Dec-2035 7,500.000 Republic Of Argentina WA USD 0.000% (51,038.750) 5406,200 5469.920 1385 5.42 ($162,630) 13-Oct-10 15.Dec-2035 10,000,000 Republic Of Argentina WA ARS 0.000% (5318.000) 515,455 5326.246 1236 0.130 5.23,701 Mortgage and Asset Backed • Manual Pricing via .IPMorgan Investment Bank trade Date Maturity Original Face Issue S&P Rating Next Call Date Coupon Principal Cost (Si Market value (5) Total Princ,lnt Entry Price Current Price MThl (Si (Local) (Local) 24-lan-13 25-Aug-2029 9,551,000 Nmbt 2004-1 IMI CCC 525/2013 1.100% (5562.273) 5555,653 $14,400 5625 • $ 6-Feb-13 20.Dec-2032 5,701,000 Semt 11 81 CCC WA 1.654% (5781.919) 5804802 $17394 7175 76.55 $36,276 5.Nov-12 25-Nov-2032 1,750.000 Gms1 2004-A 83 CCC WA 5.250% (5583.601) 5531,834 $82,116 8030 80.90 $30,349 El-Aug-12 25-Aug-2033 3,325.000 Cythl 2003-26 81 525/2013 5337% ($1,231,222) 51,067,279 $201,167 77.00 73.82 537,224 14-Nov.12 25-Apr-2035 10,000,000 lam 2005-2 1M1 CCC 525/2013 0.845% ($1,1658%) 51,211,671 566.308 70.00 75.48 5112,098 28-Nov-12 25-Feb-2037 8,180,000 Chase 2007-A1 2A4 CCC 82512024 2.990% (52,042.809) $2.016,660 5209,828 8830 95.82 5183.679 16-Apr-13 25-Mar-2033 4,500,000 Cwhl 2003181 52502013 5.750% (51,448.803) 51,321,144 570,100 9530 91.12 (557.559) 30-Apc-13 25-Apr-2033 2,726,000 Sax 2003-10 82 CCC 1125/2013 6.000% (51,076.783) $1.076,783 ($359) 100.00 100.00 ($359) EFTA01121575 C CO Ghana I own sat CIPOCIIIMigiel• Global Investment Opportunities Group Account Position and MTM Summary (Open Positions) Prepared for Southern Financial LLC as of April 30, 2013 LP. Morgan Securities LLC, Current FX • Commodity rates USOMXII USDARS USOCIIF 12.1378 5.1875 0.9295 KAUUSD USDKRW USDCAD 1976.89 1101.28 1.0072 GBPUSD EURUSD USDTRY 1.5533 13167 1.792 USLUPY US0B11L USONOIC 97.440 2.0013 5.7694 Listed Preferreds Trade Date Maturity Share, Company S&P Rating Par Amount Coupon Principal Cost (1) Market Value (5) Dividend ds Yield to worst Entry Prite Current Price MTM Receive 151 (Local) (Local) ov 0000 General Motors Co WA $50.00 4.75% (5400.000) $371,840 545,499 19.21% 50h* 46.48 517,339 9-Dec.10 12/1/2013 63,000 General Motors Co WA $50.00 4.75% (53,185373) $2,928,290 $399,541 19.21% 50.57 46.48 $91,808 15-Feb-13 2/1/2016 6,000 Cliffs Natural Resources WA $25.00 7.00% (5150300) $122,820 $1,021 15.27% 2300 20.47 (526.159) 22-Feb-12 2/15/2040 80,000 Gmac Capital Trust I CCC. $25.00 8.13% (51•82303) $2,191,200 $166,111 5.07% 2334 27.39 $474,511 15-an-13 1/15/2073 25,000 Nextera Energy Capital BBB $25.00 5.00% (5625,000) $619,750 $5,122 5.04% 2300 24.79 ($128) 3-Feb-12 Perpetual 46,600 Albr Financial inc CCCr $25.00 8.50% (51,002,226) 11,297,482 $117,730 5.86% 2131 26.77 $362,986 9-Feb-12 Perpetual 80,000 Albr Financial Inc CCCr $25.00 8.50% (51,780.000) 52,191,600 $199,278 5.86% 2225 26.77 $560,878 17-Jan -13 Perpetual 27,000 Yamada Realty Trust 888- $25.00 540% (5673000) $672,570 $3.843 SAS% 25.O0 24.91 $1,013 29-Oct-12 Perpetual 90,000 Royal Elk Scotlnd Grp Pk 88 $25.00 7.25% (5951.600) $1,006,800 $24,569 SAO% 23.79 25.17 $79,769 7-Jan-13 Perpetual 90,000 Royal Elk Scotlnd Grp Plc 88 $25.00 7.25% (5977,600) $1,006,800 $9368 SAO% 24AM 25.17 $39,068 14-lan-13 Perpetual 90,000 Royal Bk Scotlnd Grp Plc 88 $25.00 7.25% (5993200) $1,006,800 $8458 5.40% 2988 25.17 520,058 2-Apr-13 Perpetual 35,000 Digital Realty Trust Inc BB. $25.00 5.88% (5875,000) 5870,300 $0 5.90% 25.00 24.98 (5700 16-Ape-13 Perpetual 12,000 First Republic Bank/5f WA $25.00 5.50% (5300.0001 $298,320 $0 25.00 2486 (51.680) Mutual funds and Mono Market Trade Date Symbol Units Company Currtmcy Initial Cost (S) MartaValue (V) Dividends Received (S) 25-Apr-13 JLTSX 49.504.95 *Morgan Lat. (I 000 000.00) $1 005 446 Entry NAv Current NAV (Local) (Local) 20.2000 MTM 20.31 55 ,446 EFTA01121576 G I 0 otobat inven rarer otmormeitir. Current FX & Commodity rotes Forward Contraeis Trade Date Kahle Date Bought 1-Feb.13 644ay-13 CHF 14.Mar.13 18-Jun.13 USD 23.Ape-13 28-May-13 JPY Forward Contracts MTM Global Investment Opportunities Group Account Position and MTM Summary (Open Positions) Prepared lor Southern Financial LLC aa et April 30, 2013 J.P. Morgen Secunikies LLC. USOMXN USOARS USOCHF 12.1378 5.1875 0.9295 KAUUSO USDKRVY USDCAD 147619 1101.28 1.0072 GBPUSD EURUSD USDTRY 1.5533 1.3167 1.792 USCUPY USO8RL USONOR 97.440 2.0013 5.7694 • Rates sourced intraday from Bloomberg Notional Sold Notional Fix Date Contract Spot Contract Forward Current Spot Rate Current Alenin Forward 6,190,500 5,000,000 967,400,000 EUR KRW CAD 5,000,000 5,581,750,000 10,000,000 Mn. 15.1un-13 21-May-13 1.2391 1116.35 96.74 1.2381 1116.35 96.74 1.22387 1101.08000 96.68900 1.22386 1,103.00500 96.63410 $76,609 (560,494) $10,870 $26,984 FX Optima • MTM Modelled via Blocenberg Trade Date Expiration Dinection Currency 1 Type Currency 2 Notional Strikt Currency 2 Type Barrier Type Original Cunrent Premium Premium (5) (5) MTM 8'Aug'12 0B.0ct.13 8'Aug'12 08.0ct-13 JPY JPY Put Call 10,000,000 10,000,000 80.90 76.90 CAD CAD Call Put Exp KI 0 69.65 (S347.809) 5343809 51,610,178 SO 51,262,369 5347.809 FX Options MIM 50 51,610,178 51.610,178 Cornmodity Option, • MTM Modelled via Blocenberg Trade Date Expiration Direction Commodity Type Notional loz) Strikt Currency Notional Typt Original Cunrent Premium Premium (S) (5) MTM 19.Ape-13 11-Jul-13 19.Ape-13 11-Jul-13 Boten Sold COM3 COM3 Call Put 100,000 100,000 111 87.5 11,193,000 8,750,000 Call 3 113u1.13 IS90 CO2) 586,000 576,367 (557.909) (59,633.34) 528,091.26 Commodity Options MTM SO 518.458 r818.418 Total Return Sw Trade Date Effective Date Maturity Date Underlying Shares Rate Spread (bps) Notional Accrued intereat Paid Entry Price (Lotet) Dividends Current Price Eamed (Local) I ' t_)I 31-Jan.13 3-Feb.13 18.2Mr.13 18.Mar-13 5-feb'14 20-Mar'14 Apple Inc ((mal Transport Equipmt 4,430 888,972 3mL 3mL 1.00% 0.70% 52,017,023.30 51,999,999.37 (56.134) (52,325) 5455.31 2504.92 SO SO 442.78 2.27926 Total Return Swaps MTM 54.017.023 (58.459) so (11124.1091) 8,21L0 PI/ SP 5214.216 $6,112.197 5211,558 $1,063,396 5425,774 57,175,593 2012 LOY Opcn 55.685,137 Repo 50 [repeated 3 times] Current Open MTM 57,763,369 MF IST $5,446 50 $5,446 Derivative 51,431,511 (51,935,203) (5503.692) YTD Change in Opcn MTM 52,078,232 Alternative 50 $0 50 2013 Closed P/1 ($660.249) Other IMIscollaneous 50 $0 50 pals ($660.249) 13 Hat PMomwlce $1.817,983 (0 2013 JPlbreal O,ese 6 Co EFTA01121577 CIO Global Investment 00001101•1002 Global Investment Opportunities Group Account Position and MTM Summary (2013 Closed Positions) Prepared for Southern Financial LLC as of April 30, 2013 J.P. Morgan Securities LLC. Trade Date Symbol Shares Company Currency Industry Dividend Yield Cost Basis IS) Market Value (5) Closing Date Entry Price (Local) Closing Price (La call P11. 8-Jan-13 CLMT 4,400 Calumet Specialty Product USD Energy 720% 1513%964) 5137,452 8-Jan-13 31.81 31.24 (52,512) 8-Jan-13 SLRC 4,400 Solar Capital Ltd USD Financial 10.03% 11107.360) 5105,688 8-Jan-13 24.40 29.02 (51,672) 8-Jan-13 TI.LP 3.200 Tesoro Logistics Lp USD Energy 328% (1133,440) 5134,909 9-Jan-13 41.70 42.16 S11169 15-Jan-13 USAC 6,000 Usa Compression Partners Lp USD Industrial 6.46% (1108.000) 5106,260 15./an-13 18.00 17.71 ($1,740) 16-Jan-13 ALNY 2,400 Alnylam Pharmaceuticals Inc USD onsunwr, Non-cyclic 0.00% 1$48.312) 150,040 16./an-13 20.13 20.85 51,728 16-Jan-13 TAN 6,600 Intermune Inc USD or/sumer, Non-cyclic 0.00% 1$65.340) 546,125 16./an-13 9.90 10.02 $785 17-Jan-13 AVEC 2,400 Aveo Pharmaceuticals Inc USD Hawser, Nort.cyclic 0.00% 1$19.000) 117,899 17./an-13 730 7.46 (1101) 17-Jan-13 CVRR 1,800 Cyr Refining Lp USD Energy 0.00% 1$45.1:00) 14%871 17./an-13 25.00 25.48 $871 18-Jan-13 MO 6,000 Molycorp Inc USD Basic Materials 0.00% (II14.000) 5111,358 18./an-13 19.00 18.56 (52,643) 18-Jan-13 NCLH 1,600 Norwegian Cruise Line 14oldin USD Consumer, Cyclical 0.00% 1530,400) 139,328 18-lan-13 19.00 2938 $8,928 18-Jan-13 Nn 5.200 Northern Tier Energy Lp USD Energy 1926% (S122,192) 5126,149 18-lan-13 24.46 29.26 (51,043) 14-Feb-13 ARIA 9,000 Ariad Pharmaceuticals Inc USD snsunwr, Non-cyclic 0.00% (1134878) $174,408 24 -Jan-13 1521 19.38 537,530 24 -Jan-13 BPL 4,000 Buckeye Partners Lp USD Energy 6.71% ($210.160) 5208,523 24 -Jan-13 52.54 52.13 (51,637) 25-Jan-13 BFAM 500 Bright Horizons Family Solut USD snsunwr, Non-cyclic 0.00% 1511,000) 113,758 25-lan.13 22.00 27.52 $2,758 25-Jan-13 MO 2300 Molycorp Inc USD Basic Materials 0.00% 1515000) $17,400 25-lan.13 6.00 6.96 S2A00 29-Jan-13 PNY 6300 Piedmont Natural Gas Co USD Utilities 3.60% (520&000) 5207,410 30-lan.13 32.00 31.91 (1590) 31-Jan-13 KERX 1,500 Keryx Biopharmaceuticals USD snsunwr, Non-cyclic 0.00% (512.731) $14,190 31-Jan-13 8.49 9.46 S1,455 31-Jan-13 VIM 3,500 Vanguard Natural Resources USD Energy 8.62% (197.475) 196,983 31-lan.13 27.85 27.71 (5492) 31-Jan-13 275 25,003 2oefis Inc USD snsumer. Non-cyclic 0.79% (5650.000) 5786.492 1-Feb-13 26.00 31.46 $136,482 14eb-13 CHSP 1,500 Chesapeake Lodging Trust USD Financial 4.06% (531.121) 131,559 1-Feb-13 20.75 21.04 $434 1-feb-13 NMM 3,500 Navios Maritime Partners Lp USD Industrial 1130% ($449.521) 548.859 1-Feb-13 14.15 13.96 (5666) 5-feb-13 EPD 4,000 Enterprise Products Partners USD Energy 4.42% (5218.240) 5218,072 5-Feb-13 54.56 54.52 (1168) 5-feb-13 BCC 1,000 Boise Cascade Ca USD Industrial 0.00% 1521,000) $25,269 6-Feb-13 21.00 25.27 $4,269 7-feb-13 BCC 3,500 Boise Cascade Co USD Industrial 0.00% (569.510) $69,263 7-Feb-13 19.86 19.79 11247) 14-Feb-13 MR 29,000 Armour Residential Reit Inc USD Financial 12.94% (1198.360) 1193,1,11 14-Feb-13 684 6.66 (55,219) 15-Feb-13 CIF 3,000 Cliffs Natural Resources Inc USD Basic Materials 181% ($87,000) 189,148 IS-Feb.13 29.00 29.72 $2,149 15-Feb-13 NUN 8.000 Nielsen Hokfings Mr USD Communications 1.85% (5260,400) 5260,6$44 15-Feb-13 3235 32.58 5254 15-Feb-13 PXD 1,000 Pioneer Natural Resources Co USD Energy 0.07% (5128.000) 5130,328 15-Feb-13 128.00 130.33 $2,378 21-Feb-13 KOPS 20,000 Michael Kors Holdings Ltd USD Consumer, Cyclical 0.00% (51,230,000) $1,201,181 21-Feb-13 6130 60.06 (128,819) 21-Feb-13 KMP 3,000 Kinder Morgan Energy Prtnrs USD Energy 5.88% (5259,050) 5259,377 21-Feb-13 86.35 86.46 5327 27-Feb-13 AGNC 15,003 American Capital Agency Corp USD Financial 15.02% (5474,450) $473,839 27-Feb-13 31.63 31.59 41611) 27-Feb-13 MPW 1,210 Medical Properties Trust Inc USD Financial 4.97% 1517.813) 117087 27-Feb-13 14.25 14.31 S75 28-Feb-13 DO 3,500 Oyncorp International Inc-A USD onsurner, Non-cyclic 0.00% (1142.205) 1143,357 1-Mar-13 40.63 40.96 $1,152 5-Mar-13 WP2 2,750 Williams Partners Lp USD Energy 6.20% (1135.135) 5134,362 5-Mar-13 49.14 48.86 41773) 6-Mar-13 ARI 4,000 Apollo Commercial Real Estat USD Financial 9.02% 1568.200) 548,238 6-Mar-13 17 OS 17.06 $38 6-Mar-13 MHO 500 MA Homes Inc USD Consumer, Cyclical 0.00% 1511.750) 112,210 6-Mar-13 23.50 24.42 5460 6-Mar-13 0 2,000 Realty Income Corp USD Financial 4.27% 1591,030) 191,078 6-Mar-13 45.90 45.54 41722) 7-Mar-13 DISCK 1,500 Discovery Communication{ USD Communications 0.00% (597.121) 5100,438 7-Mar-13 64.75 66.96 $3,313 7-Mar-13 KM 1,500 Kar Auction Services Inc USD Hamner, Non-cyclic 3.40% 1528,875) 129,234 7-Mar-13 1925 19.49 5359 7-Mar-13 BKU 500 Bankunited Inc USD Financial 3.31% (512.621) 112,755 8-Mar-13 2525 25.51 5130 8-Mar-13 PCYC 2300 Pharmacyclics Inc USD Hamner. Non-cyclic 0.00% (5235.000) 5235,330 8-Mar-13 94.00 44.13 5330 12-Mar-13 LXP 2,000 Lexington Realty Trust USD Financial 4.68% 1523,400) 123,339 12-Mar-13 11.70 11.67 (161) 13-Mar-13 BNNY 1250 Annie'S Inc USD Hamner. Non-cyclic 0.00% (550.000) 149,949 IlMar-13 40.00 39.96 (151) 13-Mar-13 HTVVR 600 Heartware International Inc USD Hamner. Non-cyclic 0.00% (551.870) 152.055 13 Mar-13 86.45 86.76 5185 14-Mar-13 VIPS 1,000 Vipshop Headings Ltd Ms USD Communications 0.00% (524.000) 124,609 14-Mar-13 24.00 24.61 5609 15-Mar-13 TRU 1,000 Trulia Inc USD Communications 0.00% 1529.750) 131,009 15-Mar-13 29.75 31.01 51,299 3-Apr-13 ARCC 3300 Ares Capital Corp USD Financial 8.37% 1561,635) 161,344 3.4.p.-13 17.61 17.53 ($291) 9 Apr-13 0)2 4,000 Cousins Properties Inc USD financial 1.65% 1$41.800) $42,359 9-Ape-13 10.45 10.59 5559 10-Apr-13 TMHC 1300 Taylor Morrison Home Corp-A USD Consumer, Cyclical 0.00% 1$33.1:00) 134,754 10-Apr-13 22.00 23.17 51,754 11-Apr-13 RLGY 9,000 Realogy Holdings Corp USD Financial 0.00% (1396.000) 5401,119 11-Apr-13 44.00 44.57 $5,119 11-Apr-13 INFI 7,500 Infinity Pharmaceuticals Inc USD Hawser, Non-cyclic 0.00% (5300.000) 5308,768 11-Apr-13 40.00 41.17 Sit.768 12-Apr-13 EVfC 4,000 Evertec Inc USD snsunwr, Non-cyclic 0.00% 1$80.1:00) 185,430 12-Apr-13 20.00 21.36 55,493 12-Apr-13 CIE 1,500 C.sesarstone Sdot-Yam Ltd USD Industrial 0.00% ($34,875) 135,639 12-Apr-13 2325 23.76 5764 18-Apr-13 API. 21,000 Atlas Pipeline Partners Lp USD Energy 6.50% (5714.000) 5723,644 18-Apr-13 34.00 34.06 $9,644 18-Apr-13 2,000 Intelsat Sa USD Communications 0.00% 1$36.1:00) 133,919 18-Apr-13 18.00 16.96 (52,081) 18-Apr-13 0.05E 1,000 Rosetta Resources Inc USD Energy 0.00% 1$42.500) $42459 18-Apr-13 42.50 42.46 4541) 18-Apr-13 TAM 1,000 Taminco Corp USD Basic Materials 0.00% 15151001 114,080 18-Apr-13 15.00 14.08 (5920) 11.0ct-11 TEF (1300) Telefonica Sa-Spon Mr USD Communications 0.00% 130,080 ($20.700) 113-Apr-13 20.05 13.93 $9,390 15.lun-12 TEF 139) Telefonica Sa-Spon Adr USD Communications 0.00% 5488 3 S313) 113-Apr-13 12.52 13.93 (150) 19-Apr-13 SEAS 2,000 Seaworld Entertainment Inc USD Consumer, Cyclical 0.00% 1$54,000) 541,419 19-Apr-13 27.00 30.71 $7,419 25-Apr-13 PLD 15,000 Prologb Inc USD Financial 2.67% (1624.000) 5624,136 25-Apr-13 41.60 41.61 5136 26-Apr-13 RESI 4,000 Altisource Residential Corp USD Financial 0.00% 1575.0001 178.238 26-Apr-13 18.75 19.56 $3,238 EFTA01121578 I 0 CaroO•1 investment Onnoreursiria Global Investment Opportunities Group Account Position and MTM Summary (2013 Closed Positions) Prepared for Southern Financial LLC as of April 30, 2013 J.P. Morgan Securities LLC. 26.Apr-13 SPNC 600 Spectranetics Corp USD 'retailer, Non-cyclic 0.00% ($10.800) $11,220 26.4pr-13 la co 'S 70 $420 Equity M. Equity Syndicate M. 5211.558 5191.016 U.S. Fixed Income Trade Date Maturity Faye Amount issuer S&P Rating Newt Call Cate Coupon Principal Cost Market Value Total Int. Accrued Closing Date Entry Price Closing Price PIE 24.0ct-11 15-Feb-2016 13.Mar-11 01-Mar-2017 17-Apr-13 Perpetual 1.500,000 2.500,000 3.000,000 Hca Inc American Aide 8 Mfg Inc 1prnorgan Chase 8 Co 8 888 WA WA 5/1/2023 6.500% 7.875% 5.150% ($1,530,000) ($2,615,625) ($3,000,000) $1450,000 $2,575,000 $3,015,000 1122.417 $289,844 $289,844 24lan.13 1.Mar-13 17-Apr-13 $102.00 $104.63 $100.00 5110.00 5103.00 5103.50 $242,417 $249,219 $304,844 Irrtemationel Fixed Income Trade Date Maturity Face Amount Issue S&P Rating Currency Coupon Principal Cost (S) Market Value (5) Total Int. Accrued (S) Closing Date Entry Price (Local) Closing Price (Local) -tan-13 12. .000 America McnnISab De Cy M)0,1 6.450% ($1,004,417) $1,041,054 $15,705 19.Apr.13 105.75 106.325 552,343 EFTA01121579 GI 0 Mo e and A B eked Global Investment Opportunities Group Account Position and MTM Summary (2013 Closed Positions) Prepared for Southern Financial LLC as of April 30. 2013 Trade Date Maturity Original race Issue 58,P Rating 1-Sep-12 25.May.2035 8,126.960 Mortgage and Asset Backed P/L Listed Prefemeds Trade Date Maturity Shares 9-Jan-13 1/15/2073 15,200 14-Jan -13 1/15/2073 10,803 22-Jan-13 1/29/2053 32.503 29-Jan -13 Perpetual 47,212 19.Mar-13 Perpetual 25,003 29-Jan -13 Perpetual 12.788 7-Feb.13 Perpetual 8.570 6-Feb.13 Perpetual 7,000 7-Feb.13 Perpetual 11,930 23-Jan-13 Perpetual 20,000 5-Mar-13 Perpetual 15,000 8-Apr-13 Perpetual 32,003 Listed Preferred, PA Listed Preferred, Syndicate Pi. Forward Contract Trade Date Value Date Bought Notional Sold Notional Fix Date Contract Spot Contract Forward Closing Date Closing Rate Pet 4-Dec-12 8-Jan-13 Jpy 822,800,000 CAD 10.000.000 8-Jan-13 82.416 82.28 Rlan-13 89.17 0783.5781 18-0e4-12 22-Jan-13 MXN 12,900,000 USD 1,011,828 22-lan-13 12.7324 12.7492 17-lan13 12.58 513,869 17-Jan -13 22-Feb-13 MXN 12,900,000 USD 1,022.438 22-Feb-13 12.5829 12.6169 234an.13 12.68 (54,911) 2-Nov-12 64eb-13 CHF 6,025,500 FUR 5,000,000 4-Feb.13 1207 12051 304an13 1.23760 (5179,044) 2-Nov-12 6-feb-13 CHF 6,025,500 FUR 5,000,000 4-Feb.13 1207 12051 1.Feb-13 1.23910 (1187,307) 9-lan-13 8-Feb-13 WY 890,400,000 CAD 10,000,000 1-Feb.13 89.17 89.09 7-Feb-13 93.5012 (5978.045) 7-Feb.13 12-Mar-13 WY 933,849,000 CAD 10,000,000 5-Mar-13 93.49 933849 6-Mar-13 91.0278 $250,580 6-Mar-13 8-Apr-13 WY 909,300,000 CAD 10,000,000 1-Apr-13 91.038 90.93 28-Mar-13 92.61220 (5178.777) 28-Mar-13 1-May-13 JPY 925,220,000 CAD 10,000,000 24-Apr-13 92.63 92.522 23-Apr-13 96.85000 (5435,719) Mkt 2005-2 11.11 BB Company ISS.0 Rating Duke Energy Corp Duke Energy Corp General Elec Cap Corp 1pmergan Chase 8 Co Interstate Power 8 Light Ipmergan Chase 8 Co Armour Residential Reit Gent Growth Properties Armour Residential Reit See Trust li Public Storage Mfa Financial Inc 08(1• 08(1• AA• BBB [repeated 3 times] NIA Bu NIA 86B• BBB. N/A LP. Morgan Securities LLC. Next Call Date Coupon Principal Cost (5) Market Value (5) Total Int. Accrued (5) Closing Date Entry Price Closing Price (Local) (Local) 9/25/2015 0.690% (51.456.139) 51,565,282 $109,747 2./20/2013 70.00 79.00 1213,895 5213.893 Par Amount Coupon Principal Cost (S) Market Value (5) Dividends Closing Date Entry Price Closing Price P/L Received (5) (Local) (Local) S2S00 5.13% (5380,000) 5383,192 $0 11-Jan-13 25 00 25.21 $3,192 S2S00 5.13% (5270,000) 5279,282 $0 22-Jan-13 25 00 2586 $9,282 S2S00 4.88% (5812,500) 5811,832 SO 29-Jan-13 25 00 2498 ($668) 52500 SAS% (S1,180,300) $1,173,664 SO 15Mar13 25 00 2486 (56,636) 52500 SAD% (1625,000) 5624,486 SO 15Mar13 25 00 2498 ($514) 52500 SAS% (1319,700) 5118,237 SO 22.Mar-13 25 00 2489 (51,463) 52500 728% (5214,250) 5313,553 SO 22.Mar-13 25 00 2492 (5697) 52500 6.38% (5175,000) 5173.456 SO 22.Mar-13 25 00 2478 (51,544) S2S00 728% (5285,750) 5284,862 SO 25Mar13 25 00 2492 ($888) S2S00 5.10% (1500,000) 5498,571 SO 3-Apc-13 25 00 2493 (51,429) S2S00 520% (1375,000) 5375,142 SO 5-Apc-13 25 00 2501 5192 S2S00 730% (5800.000) 5801.902 SO 17-Apr- I) 25 00 2506 $1,902 5679 5679 Commodi Trade Date Expiration Direction Commodity Type Notional (os) Striae Currency Notices/0 Type Closing Date Original Premium (5) Closing Premium (SI Pd. 10-Jul-12 08-Feb-13 Sold COH3 Put 100.000 79 7,900.000 Call 08-Feb-13 $327,000 SO $327,000.00 10-Jul-12 08-Feb-13 Bought CON) Call 100.000 118.5 11,850,000 Put 08-Feb-13 (1327,000) SO (5327,000.00) Total Return Sw s Trade Date Effective Date Maturity Date Underlying Shares Rate Spread (bps) Notional Accrued Interest Paid Entry Price Closing Date Dividends Earned Closing Price (Local) P/L 31-Jan-12 3-Feb-12 5-Feb-13 Apple Inc 8.860 3mL 1-00% $9,044,412.130 ($45,959) 5456.48 31-Jan.13 546,958 455.31 (59.367) 31-Jan-13 3-Feb-13 5.Feb-14 Apple Inc 0.430 3mL 1.00% $2,017,02330 (56,134) 5455.31 12.Feb-13 SO 469.58 557.103 (Q20131M4orgao ante 8Co. EFTA01121580 CIO croonematem Global Investment Opportunities Group Account Position and MTM Summary (2012 Closed Positions) Prei:navoel for Southern Tri...anaal LUC as of April 30. 2013 LP. Morgan Socuritios LLC Trad. Date Symbol Share, Company 15-Non 2 ARS 35.0D0 Al Ster Holding Corp 15.Mar-12 Ata 5003 Alleson Trommosion Holding 15.R0.12 ALIff 4,050 AhamPturmaceuticalt inc 26.0d.12 ACC 7,002 Monica,. Campus Gemauwd. 1140-12 ACC 5.003 %merken (erom Comnurege I0-10.12 AGNC 9,000 Amerigan Capnal Aam) Lort 7.11m-I2 AGNC 153C0 Amerigan Capnal Agency Corp 114)4c-12 MG 20250 Amencon intenmional Group 11.5ep42 AIG 21.0:0 Amencon intemecional Grom 3.Aug.12 AIG 6,300 Amorican international Group 7.May.12 AIG 5,000 ~man Mtemational Group 15.Mar-12 APV 2302 Amerign Pannen-Lp 2~4(.12 Maft 500 MnWS mc 3.0ct.12 MI 4,500 Ann Commwmal Real kut 17.4pr-12 AMTG 2250 Apaolteacknbal Mortgege 20.5ep.12 MEK 14.0:0 Approach Resource, Inc 17.Aug.12 MCC 3,000 Mes CaNtal Cap 25-Apr.12 ACRE 3,150 Am Commercial Real EIMM 0-Nov.12 AVO 3302 Aurebong World bekoom 94~42 AMY 11,0:0 Array &opiums Ine 4.0“.12 An 3,502 Mat fipolnoPannen LP 2040..42 ARP 3.003 Mie Itacmce Partners Lp 1940n12 AVB 1250 Avalonla °ammonia, Inc 2.Fols.12 AVG In Mg Technobgies I .Fob.12 Ce 1,350 BancoSomtla 34.5pons Adr 7.4v2.12 WAN IA» Bloomn. Brands Inc 4.0ct.12 LOMP 2302 Boanhvolk anima Pinnen 2.Aug.12 2,502 BoarcAvalk Pipeline Pannen an-12 Ena 1250 Pipeline Pannen 15.Non12 810 IØ Brookfread Reydentrol Prop< 22 Ma<I2 CETE 6,750 Camarstono SdocYam Ltd FaMay.12 CUMT 4000 Calumec Mackay ~uni 3404.7.12 CG 5.000 CarMeGrouprtice 28 Sop 12 CV/ST 8000 casdia Wastn Systans Inc.A 8 NO.12 CPAC 27,0:0 :anno' Pacasmaso Sea. Ad 4Apr.12 CLVS 2.471 Cloris Ormica Inc 20406.12 C« 3.600 Coba International (neg/ 19.0c t.12 VNO 20,0:0 Copano Energy UOUNH 13401.12 CPNO 2,002 Copano Energy 114.Units 11.0012 OK 2.000 Corporale :Nite koperde, 2.Mar.I2 ONA 1.00) Dep midstmen Pannors Lp 5.5'0.12 DCT 9,000 Ost indurtrial Teat Inc 27.1un.12 DIA 1.250 Oignal ReNly Trust Inc 6-1un.12 DG 4.950 Dollar General Corp 2~3(42 DG 4500 Dollar General Corp 30 Mar.I2 ONICH 7202 DUIM.' Brandt Groupmc 94My.12 DVAX 110:0 Dynonn Technologen Corp 114.042 lM 2.000 (i Faso Prime Partners LP 2.Aug.12 FLOQ 2,000 Eboua Inc 20.1un.12 ETP 4.500 Energy Transfer Pennen Lp 25.5m12 fPD 3.000 Cmerpme Roden, Partners 27.1un.12 EQM 2,000 Dat Midwem Partners Lp 2840v.12 FOR 2,000 &Amy Retidential 10.feb.12 IA» (v (nergy Ponnen LP 12.5w.12 (T 2.0» trecturget Inc Currerny industry Dividend yiem Colt eas.i. (5) ~ot vak. (5) Ctomica Date intrap Price Nood) <lening Prior Noren P.'L gefit Maerieb 000% 05440001 .605 15-Now12 00 3.63 1550.3551 Consumer. Melkel 2.10% 0124.2001 1122.510 15.14«.12 2300 22.70 (51):40) ensa, Nowcyclie 000% 0433310 144,352 15400.12 10.75 10.55 $810 302% 03042501 130440 26.0d.12 43.75 44.07 $2.219 financial 302% 0221.250 5221.095 11.10.12 4425 4422 ($155) Rnancial 15.02% 03049001 $.307,710 184042 34.10 34.19 $810 Rnancial 15.02% 060,0551 1445,499 5-Mar .12 SA35 29.15 $440 finaixial 400% 06583251 5.07,795 114)tc-12 3250 34.46 $39470 financial 000% (1691.500) 5691009 1.4e9-12 32.50 32.91 $8.589 Rnancial 0.00% 0192,1501 1154609 Gaug.12 3450 31.68 $7.459 Rnancial 0.00% 0152,5001 1152,645 7.May.12 3450 30.53 1145 Consumer. (Wal 7.41% 01033251 5101,378 1644«.12 41.25 40.55 (51.748) incuma ancyclie 0.00% 09.5001 115,656 28.1.4ar.12 19.00 31.31 16,156 Fnancial 9.02% 0744101 $75.699 3.00.12 16.58 161(2 (5711) fevaltia 1258% ($41.0631 544365 174a -12 1525 '7.94 ($650 frkrgy 000% (1305,0601 1292,440 20-Sep-12 3050 29.24 1$12540/ Ekurdlal 637% 0544301 150400 17,1002 16.81 1600 030 ~Wal 3.95% 0542751 154543 26 Apr.12 1830 17.95 (51.733) hdustrial 000% 01745001 1178910 8.Nov-12 51.00 51.12 $410 mama Nan.cycler 000% (1441501 534522 94lov42 365 3.50 (51.428) Energy 630% 01045001 1107,937 5.0«.12 31.00 30,84 0564) Coca, 800% 069.0301 164007 21.Nov.12 23.01 22.67 (51023) financial 323% (1162.5001 1146.153 29-Nov-12 130.00 132.92 53.463 Tortnology 000% 0248301 $23958 2.feb.12 1600 13.31 04,242) ~aal 2.43% 081,000 $81,707 1 Jobal 60.00 60.52 $707 Consumer. (Nimf 000% 019,0001 5.21.375 8-Aug-I2 11.00 1105 51.575 Energy 705% 047.472 164975 4-0t1.12 2699 26.79 050:0 Energy 7.05% ($645001 soamo 2,Aug.12 27.80 2721 (51383) Energy 7.05% 034.4383 $33,899 201.142 27.55 27.12 (5539) Consumer. CycikAl 000% (12428e 524206 15-Nov.12 14.49 1442 50 Industrial 0.00% 074.250) $74,378 22.1.40, 12 11.00 11.02 $125 Entrgy 7.20% 051.0001 14413 134.1an12 25.50 2425 02302) fenancial *47% (11140001 1104905 34343, 12 22.00 21.98 095) Industrial 0.00% (32,000) 133,504 28.3c0.12 400 424 51904 Industrial 1.21% (5310.500) $295,)31 ob.12 11.50 10.95 1514.760 mimer. Non.cydir 000% ($49.500) 549.978 44or.12 2000 20.19 5478 Energy 000% ($10.800) 1107.600 244M-12 2600 2949 56.800 Energy 5.72% ($64Z603) $635,560 19-0d.12 32.13 31.78 ($,010) Energy 5.72% 0640601 $67,668 13.1a12 34.03 3363 03921 financial 379% 049.500) 151.190 1143d-12 2475 25.60 $1.690 Energy 5.71% 047,4201 44899 2.1.4a12 47.42 46.50 0521) fnancial 3.58% (55,8001 154700 54op.12 610 6.30 1500 finamitel 4.42% 0943131 590350 27.1un-12 7225 72.68 $538 Consumer. (nik*. 000% 0231.413) 5.235.303 64a-12 4475 47.54 53.891 Consumer, Mala' 0.00% 0203,6251 $203,823 22.4.44n12 45.25 45.29 $158 Consumer, Mala' 1.96% ($212.400) 1211,788 304.44r.12 29.50 290.2 (412) Non.cyclir 400% 0744(101 571.910 94day.12 425 40) 0090) fnergY 539% 044.6801 WAM M.012 3434 3424 0202) Toendegy 0.00% 023.000) $25,576 SAug.12 11.50 1209 $076 Energy 7.18% (146.855) 564995 td.Am-12 4437 43.33 (51440) Energy 4.42% (1159.2101 5161.097 255e012 53.07 53.70 $12137 Energy 3.20% ($42.000) $45,784 27.Am•12 21.00 22.89 $3,784 F410031 2.76% 0109,5001 $111,258 29.Nov.12 5435 55.43 Slag Coca, 610% (1111.3l0) 5122.783 104M-12 67.95 6821 1473 Comniunkateres 000% 0450001 546406 12-549'12 22.50 23.22 51.446 §§55§§§§§55§§§§§55§§§§§55§55§§§§§§§§ááááááááá᧧§á§§§§§ EFTA01121581 e I o_ Global Investment Opportunities Group Account Position and MTM Summary (2012 Closed Positions) Prepared for Southern Financial LIC as of April 30. 2013 22.1.p.12 IT 750 axe«target he 29.F44.12 MLP 2,250 Enerran Panners Lp 17.1.4ay.12 EB 17,500 Facebook Inca 11.5w12 15C 7.000 Fifth Street linance Corp 29-Feb.12 MC 3.375 lint Reoub4c llankl(' 12.44(.12 FET 14013 Forum Energy Technologes in I/Apr.12 FRAN 1.500 Francesco!. Holdings Corp 27-144-12 FRAN 3.150 Francesco!. Holdings Corp 30Mar.12 CLOG 5400 Gaslog Ltd 14546.12 GYM 2,000 Genesee &Watching im.0 A 21-441.12 GNIAK 9.000 Gasmerk Diagnose» Inc Ilalon12 GNC 6.000 Gnc Holding 14(.0 A 14Mar.12 GNC 5,403 Gnc Headings InoCI A 14Dm.12 GPK 14000 GrapNe Packaging Holding cc 2-Feb.12 GWAY 1,100 veenway Medical Technolor 24546.12 851.4.11 4,000 Gnepo Fin Santanckeadr B 19.44(.12 GWRE 1,500 Guidowire Software Inc 25-144-12 GWRE 1,125 Guidewire Software Inc 19-5ep.12 Hol 5400 Mealeb Care Rek he 7.4,412 1.101 2,750 Health Caro Role inc 22.F40.12 1.104 4,950 H4W1‘ Caro Role Inc 25.5e4-12 HR 4,00) Healthcare Realty DIM Inc 11.Dm.12 HT2 1000 Hero Global Holdings Inc Sotpr.12 NOV 24250 Wilinarbiila Enterprises-A 2.Aug.12 CM 15.750 Werra Pharma<eutkab Inc 13-De<-12 INF i 1,000 infiratyPharmacculacels Inc 9.409.12 INFi 2,250 infinity Fturrnaceubcals Inc 10.640.12 IRWD 1,900 Ironwood Pharmaceuticals Inc 4Dec-12 KAR 1,500 Ks Auction Fen/KOInc 8.Aug.12 KOK 2.000 Kilroy Realty <ow 8.Aug.12 KMR 2303 Inder Morgan Management 4 11.0‘412 KYTH 1.20) Kythera Biophanneceutkab i 12-04-12 VI 2,475 Laredo Petroleum. Holdings in ~.12 LXRX 240:0 Loncon Pharmaceuticals vit 12072.12 LNCO 1,203 Linn Co U4 12-lan-12 LINE 4.000 Linn Energy lk-Unks 1.14ay.12 LPLA 3,600 Lpl Fnancial Holdngs Inc 14.14n12 URIC 1,025 Luft Inekstries Inc 6-544-12 Me® 4000 MA Homebic 10.4.4242 MAW 2.925 Manchester United Pk-0 A 2344042 MKT( 2,250 Marknapass Mid:no hric 1440.12 MPH 23.500 Medal Properties Trust bx 29-Mar.12 MAO( 3.000 Merrimack Pharmaceutkeds in 234.1«.12 KCR5 9,003 Michael Klan Headings Ltd 25072.12 MR( 2,500 1.40 LP 74Aar-12 WM 2.000 Nabonsem Mortgage Wilding! "May-12 NMM 3.000 Nano, Maritime Perlman to 24041.12 NAY 2,000 Marktar intornat‘onal Corp 204.1m.12 NMI 7,650 Nielson Holdings Nr 26-11-12 an 5,50) Northern Et Ovid Le 2440.12 NG 11,250 1.3490/0 Resoiscas Inc 4546.12 45 4,000 Huger Energy Lp 11.444, 12 OME 1,000 Oaktree Capital Group Lk 2044,12 ORS 1,350 peuk Portnen Loa Imay.12 ROVT 45,0» Pacific Coin Oil Trust 2454012 MM 3,000 Pannantimak innnemone Corp 5-Mar-12 *OM 4,950 how Holdings Inc 440242 14141 1,000 Peregrine Sonkorductor Con 15.May.12 PEED 1,000 Pdc Energy Inc 6-Mar.12 MA 1,000 Plains All Amer Pipeline Lp 9-144n12 OVR 5.000 Pin Partners Lp 7.044.12 ORE 2,50) ge Energy Lp 11.44(.12 ORE 2,700 68 Energy Le 8.Mar-12 IVY 1250 OuskyOntriatnion lix 20-5,442 QC' S LOW Oust» Inc 17.1.4ay.12 RPT 2303 Ratwo-GershonsonProponlos 15.R0.12 LIJF 3,150 Rapnond lames Financial vit 11-Cet.12 REGY 7.20 ~gar Holdings Corp 144.1m12 RF 240:0 Regies Financial Corp SApc.12 RPM 7,650 Rota ~panics Of Arno . A 55§55§§5§§á§§§§ááágááááá᧧§§ááág5§5§§§5§§55§§§§g§5§§55§55§§55§§5§§55§ Commenketens 000% 0142501 $17.276 Energy 731% 054.1131 $53.168 Ccoununkatkos 0.00% 0665.0001 $349,405 fin:axial *41% 0755301 $74.753 financial 126% 0101.2501 $101.675 Energy 0.00% 0242601 522.220 Consume. Cycli<e4 G00% 041.4001 $42,105 Consume. Cycli<e4 000% 072.4501 $72,765 Industrial 3.44% 0751040 $68872 Industrial 0.00% 0129.5001 $132,1112 WOW., Non-neg. 0.00% 037.0001 $37,899 Consume. Cycli<e4 132% 0211.2001 $2211,204 Consumer, cyclical 132% 01429001 $180,517 Industrial 0.00% ($6.1010 $6,100 Technology 0.00% 0140001 $11.672 FinanCial 0.00% 047407 $54440 Technology 0.00% 0423757 544.075 Teehndogr 0.00% 014,622 $18344 finaixial 404% 02840001 5246350 FinanCial 4.08% 0161,5631 $162,269 Financial COB% 02641251 $264,701 fin:axial 4.00% 091.4001 $91.852 noon«, Ncn.cyclii 0.00% 094.8001 $93,708 Consumer, Cyclical 0.00% 040.5040 $39,994 reamer. Noncydii 0.00% 01240001 $115465 reamer. Noncyclii 0.00% 0243301 $27.932 resume, Non.cyclie 0.00% 032.6251 $33,525 numb% Non.cyclie 0.00% 0246711 129,767 reamer. Noncyclii 3.40% 0242501 $21510 finarkiel 2.48% 092.2001 $91.740 Energy 000% ($nessso) $197,702 owner. 4 y I - 000% 019.2001 523.383 Energy 000% 0541191 $nol morn«, Non.cyclie 000% 045001 $44.000 Energy 6.79% 0431001 $45.299 Energy 7.51% 0143,8071 $143,228 FinanCial 136% 01242001 $124,700 Energy 037% (81,231) $82304 Consume. Cyclical 000% 0745201 $73,116 Consume. Cyclical 000% 0449501 544803 Financial 1.23% 0646251 $71,657 Financial 4-97% 0219.3757 $220,275 wean, . Noncytlii 000% 021,0001 $18.600 Consumer, Cyclical 0.00% 0 1231001 $422,991 Energy 2.85% 0540001 $64,988 I:monied 0.00% 0210001 527.043 Industrial 11.70% 047,0401 $441593 Consumer, Cyclical 0.00% 0325007 $36.903 Communkatmen 185% 0Z11.4137 1233476 Energy 19.26% 077,0001 1711.177 Bask Materials 0.00% 01046751 1105.188 Energy 1.75% 01953601 1194.832 fin:axial 409% 043.0001 $41.329 Energy 532% ($440151 $79.549 Fruncial 9.75% 09:40001 $896,290 Fruncial 937% (32.4640 332,193 Utilides 478% 0952081 $96130 Tethnologl 000% 014,0001 $14.534 Energy 000% 026.504 $26,450 Energy 401% 0430301 $79,091 Energy 880% 01155501 $113,415 Energy 10.68% 0446001 $39,650 Energy 10.68% 051,7867 $951,624 Industrial 000% 0142501 $14650 Technology 0.00% 012.0001 $11.950 FinanCial 385% 0342501 $29,750 FinanCial 1.35% 0107,1001 $109,529 financial 000% ($194.400) $238,103 FinanCial 1.41% ($147,503) $149,800 FinanCial 4.33% (161,200) $64180 l.P. Morgan Securities LLC 22.M.4.12 19.00 23.01 53.026 2940.13 2405 23.63 (5945) 3-Aug-12 38.00 19.97 0315.5951 1 I.Sep.12 1079 10.68 07772 2940.12 3000 30.13 5426 12-Apr.12 20.00 21.94 $1.960 ».4471-12 27.60 20.12 5786 27,lan.12 23.00 23.10 $315 301Áv.12 1400 12.75 (56.721) 14546.12 64.75 66.09 52182 21./un.12 420 421 $99 filllow-12 3520 3521 584 14-1.444, 12 33.50 3343 ($383) 13.CHK.12 6.10 6.10 $o 2407-12 *00 12.04 53172 26.5».12 12.19 12.61 $1,700 19.4.44.12 28.25 29.15 $1,700 25.1».12 1300 16.64 $4.119 19444-12 5400 5727 54350 7,Aug.12 5175 59.01 $707 22,00.12 53.50 5348 ($124) 15.Sep.12 11.85 2321 $1.452 11-Dec-12 1510 15.62 ($1.092) 54.4t.12 2.00 I.94 ($506) 2-Aug-12 400 7.97 (5534) 134)e<-12 2433 27.93 $1.602 9.Aug.12 1450 14.90 *CO 10440.12 15.09 15.67 $1.096 6.0®12 17.50 17.72 5330 8.4u4-12 4410 46.37 $510 Saug.12 73.50 7322 07124 11-04-12 1100 19.49 $4.143 12-04-12 2025 21.18 52302 1104412 2.25 2.20 al0:7) 1204412 36.50 37.75 $1.499 13-1441.12 3595 3541 (5572) 2.May.12 3450 34.64 $500 1.1.4m.12 79.25 80.10 1872 64e6-12 17.63 10.28 52596 104 01212 1400 13.* 047) 2340.12 3050 31.86 nos: 24.412 935 9.79 $900 29444n12 7.00 6.20 02.400/ 21/44n12 47.00 47.03 (19) 26434412 22.00 26.03 59.968 13-Mer-12 1400 13.52 (5954) 34Aey.12 1518 15.53 (545(0 25434.12 18.75 18.45 06003 21./.44n12 3025 30.57 52.463 26-41-12 1400 1421 $1.177 244412 950 9.35 ($1,688) 5944.12 45.94 48.71 0924 12.Apr-12 43.00 42.33 0671) 28-a eb.12 59.27 50.93 OS) 3.May.12 MOO 1916 ($1,710) 25.544.12 »82 10.73 0270) 6-Mar-12 19.25 1940 5743 8.Aug-12 1400 14.53 $534 1641402 26.50 2645 0503 64,44, 12 60.03 7949 (5939) lallov-12 23.11 22.03 (52.135) 74:04.12 16.24 15.86 0950) 12.40.12 19.18 19.12 ($162) 8-1.4e-12 13,00 13.32 $400 2145ep-12 12.00 11.9$ 0540 17.May.12 12.10 1110 05C0) 1544412 3400 34.77 52,429 11.04-12 27.00 33.(4 $43.783 14/.44n12 5,90 5.99 52300 5.4pol2 880 8.65 54980 EFTA01121582 CIO aware enimoorne canoonnwar. Global Investment Opportunities Group Account Position and MTM Summary (2012 Closed Positions) Prepared for Southern Financial LK a: of April 30. 2013 .P. Morgan Securities U.C. 3.0d.12 NW. 2,0» Rigel Pluommeuckeb Inc 13~42 RNOY 22,9» RoundyS Inc galar.12 SBAC 1,500 Raa ComnumcatIons Corp-CI 14-0.4.12 StlY 2,500 Silur on Realty Trost Corp 44Atir-12 SIG 2.250 Simon Property Group tR 114)84.12 SE 4.0» Spectra Energy Corp 19-64-12 SOU( 2.000 Solunk Inc 113.44r.12 SOU( 500 Solunk Inc tAtag-12 SPH 2,000 Suburban Propane Partners Lp 15.Nov.12 NGLS 4,000 Targa Reeourcec Partners Lp 1/1-lan-12 NGLS 1.250 Taiga Reacitsnea Pennen Lp 5.5ep.12 TGP 2.0» Tens, Lng Partner, Lp 20.54p-12 TRLA ODD Truha Mc 94aciv.12 TuIdl 1,500 Tuml Wilding; Inc 19.49..12 TVIII 700 Tumi Holdings Inc 1311412 TWO 11250 Two Nathan Inonement Corp 22.Fe13.12 TWO 9,000 Two Nathan Inomment Cap 11.1tin-12 TV/0 13.725 Two Herber, Invenmem Corp 10.149.12 ULTA 2,702 Vita Solon cosmetics II hew 144Iov.12 MWE 3,000 Markwon Energy Partners Lp 14~12 MWE 1,100 Markwon Envoy Penman Lp 12.544/2 VIIR 2.50). Vanguard Nature' Re5oome) 7.0e4.12 MTV 5,000 Vanta inc CIA 3.4,412 MTV 2,500 Vanta Inc. CIA 22-Mar.12 VNTV 4,502 Vent./ Mc -CIA 14Acir.12 VVUS 72» Viw,anc 7.54,42 1KRA 2.750 Woo" Cornmunkationstr4 284dar.12 1KRA 750 Vocra Communications94 11.1.4ey-12 WWWW 3.000 Web.Com Group Inc 2044412 WIC 3.502 Western Ane1Mongne Cavil 10.May.12 WIC 2,250 Western Awn Mortgage Cann 3Clec-12 WIN 5.173 Wbitehone aim/me Inc 26-Oct-12 WWAV 2.503 Whitey/me food, Co. A 2344ar.12 W142 2,250 Whiting Um Trust II 134)84.12 WIB 1000 Wilton% Cos anc toAug.12 W02 IA» Welan Pensen Lp A.Ape.12 WPZ 1000 Wilk"( Pannen lp 234aN12 WPZ 3,000 Wilk"( Pannen lp 1201412 WOAY 900 Workday InoCLas, A 20.1an-12 2100 6,750 bopharrn Ontology aR 28.Mar.12 ZNGA 4600 Zynga Inc. 0 A 22.641.12 CNCOIT 7,500 Cemented Sa.Sponstred Ade owner. Non.cyclii 000% ($19.000) $18.936 3-00-12 950 9,47 064) Consumer, Cyclical 6.70% 0191,2501 1196,598 IfFeb.12 650 8.75 55.648 Communknons 0.00% ($71,250) $71,957 8-1.4ar.12 47.50 47.97 1707 finaixitil 0.21% ($27.750) 54205 14.0ee-12 11150 18.71 1315 financial 258% (111».2501 13/249 23 9.1.44, 12 137.00 13690 (5227) Energy 327% 0107,0031 $103,756 12 Dm.12 2475 27.19 51,756 Communications 000% ($54500) 557,542 204.4.12 2625 26.77 51.042 Communications 000% (165001 116650 i 94.01-12 17.00 31.30 57.150 Energy 7.04% 075,2201 $73654 9-Aug..12 37.61 36.93 (51366) Energy 6.15% 0144,0031 $141,116 IS-Nov.12 36.00 3529 (54234) Energy 615% 047.8751 $41011 10.14n-12 3630 3641 5136 Industrial 648% 076.8601 $75.798 5.Sep-12 3643 37.90 (11.062) Communkations 0.00% 0156001 $18,981 20.546.12 17.00 23.73 54381 mono" Non cyan. 0.00% 031,6501 $31,596 9.Nov.12 21.10 21.06 054) inure,. Non.cydei 000% ($12.600) 117.991 194.0/-12 1600 25.70 55391 Financial MU% ($117,450) $119,025 164442 10.44 10.58 11575 Fmancial 10.68% ($89100) $86460 224(4412 990 9.54 1360 financial 1068% 01256511 1125,721 11.14n-12 9.17 9.16 0137) Consumer. Cmlicail 000% ($226800) 1231,725 10401.12 8400 6542 54.925 Energy 525% ($139,500) 1142,131 1.Nov.12 46.50 4729 54631 Energy 525% 0567921 155.629 14.Aug.12 50.72 50.57 (5163) Energy *62% 066775) 561498 12-Sep-12 27.51 2740 027» inset's, Non cyche 000% 09:45001 1104,360 7.0,x.12 2010 20.87 13.860 nenna, Non cyche 000% 054,7501 155,033 3.Aug.12 21.90 22.01 1233 irounow. Noneydei 000% ($76.5001 936127 22.1.4e-12 17.00 16.92 $1627 inane.. Noneydei 000% (1162,0001 1164,707 1.1Aer-12 22.50 2218 Q707 Toffinology 0.00% 0740631 $86938 7.sep.12 2675 2943 11,876 Technology 0.00% 012,0001 117,382 28.1.46, 12 16.00 23.18 15,382 faneri 000% ($45.7501 146204 114,Aciy.12 15,25 15.07 05463 Partiel 1696% ($77.7001 $76012 2f4Sep-12 22» 2229 1312 rmancial 16.96% 045.0001 $41,765 10.May.12 2000 1836 (f3236) financial 896% ($77.625) $71,736 5-Cle1.12 15,00 1381 ($5.1399) Browner. Noneydii 000% 042.5001 $43,170 26.00-12 17.00 1727 1670 Energy 1638% (46000) $49,518 23.1.46.12 2000 22.01 14.5113 Energy 335% ($31000) $31,349 13044.12 31.00 31.35 $349 Energy 620% 051.4301 154769 Savo-12 51.43 50.77 ($611) Energy 620% (W560) $54,149 ~.12 54.56 54.15 ($411) Energy 620% ($186430) 1187,581 254.1.12 62.81 62.53 0649) Teahnolog/ 000% 0232001 $41.766 12-0e1-12 2600 46.41 116.566 nevne. Non.cyclii 000% <135.1001 134.452 20-len-12 3.20 5.10 <$6160 Communications 000% (43.2001 $44,784 29.1.1ar.12 12.00 12.44 11.5134 internee, Non cyan. 000% <5117.096) $116,768 22.lun.12 1561 15.57 <5328) lawny (5172.079) U.S.Faxed Income Trade Date Maturity Lace Amount Issuer S&P Rating Neµt Call Date Coupon PT IlWipa I Con Market Value total Int. Accrued Closing Pate Emil, Price Clotinfii Price 744ov.11 314)«.2013 1,004CM AM0f.C.M Capital Ltd NR WA 7560% (M.017.00(9 $1.00.00 $63,017 22,409.12 $101.10 0).CO 52.017 12.1an-12 31.0m-2013 In American Capital Ltd Nfi WA 7960% <$1.010.000) 11.0:4000 $48.644 22.Aug-12 110202 1102.0) 128.644 23-44..10 CQ4Atiy.2016 1.123.093 Cx Group Inc 118. WA 7000% 01.641.9591 11123.606 1181766 17-hp-12 19430 510260 5295565 Øp..10 02Alay.2016 2186,675 Cn Group Inc BB WA 7.000% ($2.727.90B) $2.886,675 $478.226 5.5ep.12 $94.50 510240 $636,993 23-Apr.10 CQ-May.2016 904717 Crl Group Inc BB. WA MO% (19332631 1969.717 1)61.26* 21.44402 19430 510260 5215.703 17.Mar.10 CO-May.2017 959.777 Cr1Groop Inc BB. WA MO% 0865.3941 1959.777 1165.722 5.Sep-12 19225 510260 1240.104 17.Mar.10 02Alay.2017 1,236,549 Cn Group Inc BB WA IWO% 01,144717) $1.236,549 $191,871 Sfun.12 $9225 510).CO 1287204 17.Mar.10 02Alay.2017 303,674 Crt Group Inc BB WA IWO% 02841391 1303,674 145,231 3 Iday.12 $9225 510).CO $4.4765 15-1uI-11 07.4taw2012 In Oevlache Bank Ag London WA WA 0600% (11.0».000) 1617.6» 10 7,Aug-I2 110002 161.78 113821701 25.1un.10 01-041.2014 1547.333 Felt*, Lodemg LP B• WA 10000% 01.62656$1 11.734.947 $251599 224002 116525 1112.13 1362.979 21164).10 0100.2014 773,667 leka Lodong a B. WA 10.000% 0814,2841 $867,474 1127,655 22-f ob.12 $105.25 SI 12.13 114441345 15.54p-10 15.Apr.20 IS 1,203,C00 Ford Mow Groot Co LI< BB. WA 7.000% 01278.0003 11301000 $129,967 2 Apr-12 1106.50 510.00 1156967 20.kn.12 09.1u1-2013 3.000.0:0 Goldman Sch, Group Inc WA WA 0030% (1),1X0.0001 15162.000 10 244ep-12 11006 1101.40 1162.000 26 Ott.11 09.Nø.2012 1000~ INK Ute te hvA. WA 0000% OIX:09001 $1.097.500 $0 9 Nov.12 110040 110975 $97.500 14F413.12 17Alay.2013 6000P:0 Max 1313 Mc WA WA 0000% 05PCOAM 14315,000 $0 24-sep.12 110040 110630 $316000 21401-10 22411.2013 2.500.000 /prnorgain Chose & Co WA WA 0.000% (12512.500) 14.469.250 10 26.1un.12 1100.50 111877 5/956750 9.flec-10 16Am-2012 3.000.0:0 Morgan Stinky WA WA 0.000% (1).0».000) 14.095970 SO Ifolun-12 11006 1)3510 51.058.970 13.Ian.11 26442012 4000P:0 Morgan Stanley WA WA 0000% 02.0:0,000) $1.019.780 $0 26401.12 110040 15039 153862201 14.16ay.12 15-4u42013 600,0:0 PeudentlaIFInaroial Inc 868, 611512023 5.625% 0599,964) $601,500 $2.063 6.04442 110225 13599 7.Feb.12 Ofolan.2015 In Royal 8k koalnd Grp He WA 3050% (1966.03.0) 11.030.000 $36.051 24-00-12 196.60 f1030 1102.051 3.,019. 11 07.».2013 4000P:0 59 Structured Product WA WA 0000% 02.0:0.0001 12.211,600 $0 23.Aug.12 110040 111038 1211.600 I641ar.1 204un2012 6000P:0 Sg Structured Products WA WA 0000% 05ft:OAM 15.277,500 $0 1448612 110040 $105,55 1277,500 30-len-12 Pelmet/el 2.04M0 Southern Cal [Oman 211/2022 6150% (114833201 $2.035.000 110.069 29.4e6-12 199.17 1101.75 161.749 1 flen-12 aerial 325000 Southern CS EcRson 2.1/2022 6250% (1324.604) 1326625 $451 10/441.12 59918 51009 $2.473 EFTA01121583 G I 0 ~Da O1.Ofetial•MI4+ J.P. Morgan Securities LLC Global Investment Opportunities Group Account Position and MTM Summary (2012 Closed Positions) Prepared for Southern Financial 1.1.0 as of April 30. 2013 nternationel Fixed Income Trade Oat* Maturity Fate Amount Issue SBP Rating Currency Coupon Prinopal Cost (5) Market Value (5) Total int. Accrued 19 Closing Crate entry Price (loal) Closing Price Goes!) PA. 9.f eb.12 Perpetual 300.09 Brskem finance Ltd $88, 1150 7375% (5)01.1251 $301.140 5).626 10.4pr-I2 11:038 90)8 5c.6A1 International Fixed Income PAL 53.641 Bonds Non Taxable Trade Dale Maturity Face Amount Issue SAP Rating Hest Call Date Coupon P rin4.pal Cost (5) Market Value (5) Total Int. Closing Date intro Price Closing Price P1L Accrued (S) MusD (local) 20.1un-12 15-Am.2034 LOODCM) Nye MunWtr(Sver.ff AA. 6/1Y2022 1150% (S983.1701 5984.503 W Dikin•12 98.82 9845 (53.670) 8-Mar-12 9-1.4e-12 1.00360) B88. DD2022 5125% (59849031 $9B) 500 98 25 9865 %COO 16 Fati.12 8-Mae.12 1,003,0:0 Pr Atmoduct.4 St Lim 68. 5750% ($974740) VD2 ing SD 16 1171: 1/ 97 4/ 9827 $7,960 Mon and Asset Backed Total let' Ent En ry Price Closing Price Trade Date Maturity Original Face awe S&P Rating Next Call Date Coupon Print.p41Csnt IS) Market Value (S) Accrued (5) Closing Date (Local) Rosa!) 11540.12 2506C-2034 3275.00 Mao:42004 Eo BI CCC 025/2016 2750% ($1.491829 51.629,095 $21003 29-Nov-12 72.75 BOLO $164168 12.40(.12 20.84.2036 40010:4) Bale 2006-6 245 CCC 740209 0.479% (51.647559) $1,734477 5161,166 29-Nov-I2 65.19 7103 $250.0414 18.1orr12 25.1m-937 1.081.519 Bono 2007-1 2412 CCC 12/214017 MO% (51.166,006) 51,199,332 581.684 4-00.12 57.00 &am 5114010 15-402-12 25.HooZ034 moos.= Dubs 2C04.4c6 MI CCC WA 0870% (51.051.316) 51,175,59) 584.429 &Nov-I2 47.00 5650 $205.707 3I.May.12 25-Feb.2035 3,3640:0 Cram 20)51 B2 I1/254014 5.417% (51,718986) $1.678,1198 $201,537 Bliov.12 83.00 9750 $160449 11Aug.12 25-AM2033 3,412):0) Malt 20)84 93 CCC 10/254014 5844% ($1.033A74) $1,153,365 $115,797 Blior.12 61.00 720) $235,688 2.4pr-12 20-Apr-2033 6000006 Sent 2003-1 SI 8- 9202013 1.519% (51.076.153) 51.201,376 $58.183 13.4a102 60.00 6900 $186.405 Listed Prirferreds 'trade Oats Maturity Shares Company S&P Rating Pat Amount Principal Coca IS) matket value (S) Dividencls C *sing Date ' Coupon Vary Price Closing Mice Received CS) (local) DODD) /am 2/154042 240:0 Atgon Nr 888 25 00 800% ($502000) $499.003 20 eb- 2 25.03 2495 (S 1,V00) IlMar-12 Perpetual 37903 Alexandria Real Estate 68 $25.00 6.45% ($925,0007 5902.060 $0 29.Mar-12 25.00 24.38 1$22.9101 29 Mar.12 Perpetual 28.0:0 Anlentlin Capital Agency WA 525.00 800% ($7020001 $701,288 $0 16.4m.12 25.00 25.05 $1.288 Slum 12 6/17/2042 1140:0 American Financial Croup Met 52500 638% ($2506031 5250.880 SO 19.Pun-12 25.00 25.09 65mI2 Perpetual 27.0:0 Ann* Capital Mgmt WA 52500 750% ($67$.000) 5671.733 SO 18-5e0-12 25.00 (SPA)) 6.540.12 Perpetual 2460) Anna,/ Capital Montt WA $25.00 750% 0625,0001 $621,225 $0 asepn 25.00 ass ((3.775) 9-May.12 Parma/al 11.291 Ann* Capital Mgmt WA $25.00 7.63% ($232,279 5279,170 $2,690 14-Am.12 25.00 (019 9.May•12 Perpetual 46.712 Anna./ Capital Mgmt WA $25.00 763% ($1.167.800) 51.153.8% $11.131 13.Am-12 25.00 24.70 (52.790) 9 May.12 Perpetual 34997 Mealy Capital Montt WA $26.00 7.63% ($874929 5863.376 $8.139 12-AM-12 25.00 24.67 ($3210) 9 Mot12 Perpetual 35,890 Anal/ Capital Mgmt WA $25.00 7.63% 0897,2501 $886,591 $8.552 11-AM-12 25.00 a70 ($2.107) 9.Mry-12 Perpetual 41.110 Annaly Capital Mgmt WA $2500 763% (51,647.750 51.016.609 59.796 2.1m.12 25.00 an ($1,345) 134.942 Perpetual 15.09 Apollo Residential Mtge WA $2500 600% ($375,000) 5375.570 SO 254ep-12 25.00 25.04 $570 13.5602 Perpetual 140:0 Apollo Rallontlal Mtge WA $25.00 9.00% 02540001 $250,390 $0 25-Sop.12 25.00 25.04 $390 12440.12 Perpetual 51,60) Bank 04 New York Mellon BBB 525.00 5.20% ($1,275.000) $1.260,1173 $0 25-Sep.12 25.00 an 2471 ($14.127) 13.1an-11 Perpetual 34250 Ueda» Bent Pic 688 s2500 8.13% (51.022.569 51.013.749 5139.521 19.00-12 25.54 25.83 $154701 134(9.12 Perpetual 440:0 Capital One Financial Co BBa 525.00 6.00% (SIP:0.00(9 $996,720 $0 14-Sop.12 25.00 24.89 (AM) 2,540.12 Perpetual 1860) ml B Amax*, Prop WA 525.00 6.63% 0375.0001 5376.635 $0 8-00.12 25.110 25.11 $1.635 EFTA01121584 CIO . lAorgan Socuritios LLC Global Investment Opportunities Group Account Position and MTM Summary (2012 Closed Positions) Prepared for Southom Ewermal LLC as of April 30. 2013 1010-12 Perpetual 36203 Cfreawske Lod0j49 7,014 ISA 525.00 1.i5% ($920.825) soesin so 27-)41-12 25.00 2512 54346 101.4-12 Papacual 6.140 Chotapoake Leeno Trust N/A 525.00 7.75% ($153.500) 3154.765 50 26-101.12 25.00 2531 51.265 101.4-12 Papacual 12,027 Chotapoake Leeno Trust N/A 525.00 7.75% ($300,679 5300699 50 24-101.12 25.00 250 324 30-507.10 103012040 30.0:0 Otegroup (400.41 Ad % 525.0 188% ($750.0001 1852.300 5107.441 190412 25.0 2841 $209.761 5444..-12 Peptewl 20.000 (Ity Notions' Corp I% 525.00 550% ($9:40001 $487300 50 12-044-12 25.00 2431 i$12.7001 1•04-12 Porpacual 100:0 Cobank Atla 5100.00 625% ($1.030.000) 51.039.600 50 230412 108.03 10336 539.600 18-10-11 Pepeweg 40.0:0 Cklr Co, p 13* 525.0 650% ($1.020.005) $938.360 50 4Aug-12 25.0 2411 IsItem 94'02 Pergetvel 25000 Diicove ineaval Ses 6* 525.0 650% ($6260001 $630.100 50 26-0412 25.0 25 20 56100 6-1)44-12 12/1/2052 25,0:0 Entoroy Arkante Im 525.00 4_90% ($625.000) 1421.603 50 20 Dec.12 25.00 2436 (13400) 26-luo-12 7/1/2052 26.00) Eourgy Lo-eisanaLk 525.00 525% ($625.000) 3649.025 50 16-101.12 25.00 2596 52A025 17-16n-12 Peipeevol 30.5C0 firn Reoutdclank/5f 888 525.0 6>0% ($762.5001 $763.1)1 50 31-lan-12 25.0 2501 $671 2.0tt.12 10/15/1052 0.179 Genenof 6 In Cep CorP PA., 525.0 488% ($204.475) 1203.657 50 26-0412 25.0 24% (SM 2-04-12 10/152052 21221 Grearal El« Cap Corp PA. 525.00 4_88% (5546525) 5543,561 50 25-04.12 25.00 2491 (51364) 2.46<-12 44193042 37,0:0 Hartford Fiel Wes Grp 884 525.00 738% (5925.000) 5973838 50 2434, 12 25.00 2637 554838 20-6W-12 Pepetwa eaco kirrergar, (Nee *Co 686 525.0 550% ($1.0:0.0:0) $996.800 50 7.5er 12 25.0 2491 (53200) 20Aug-12 Partial 46.0:0 !amorgan <hm 8, Co 888 525.00 5.30% (51.125.000) 51.121.850 50 6446-12 25.00 2493 (53.150) 94dar-12 Partial 54003 Kyrx4 Realty Corp EM. 525.00 6_00% (51.250000 51.228.1% 50 29-1.04, 12 25.00 2456 (5213001 16-1.4-12 Peretvel 6.5)4 kenco Rede Corp 80*. 525.0 550% ($164.350) $161.083 $0 hitu2-12 25.0 24% (5320) 16-1.4-12 Peretvel 6.426 kenco Rede Corp 80*. 525.0 550% ($1646501 5153,829 50 6-Aug-12 25.0 24 56 (52.8.21) 3-40, 12 44193042 9.905 /Ab Finawal In< N/A 525.00 300% (5247.6251 5246.139 50 27-Ap1.12 25.00 2435 (51.486) 3-44x-12 44193042 11,095 blfa Finawal In< N/A 525.00 300% (5277375) 5275.699 50 264.pi-12 25.00 2437 (51.476) 204.14.-12 3/1/20)2 18.(co Nette, Inergy Ceortel 608 525.0 530% ($8$5.0001 $473.283 50 i6.Aca-12 25.0 2544 samo Iii-Scol2 Perpacual 400:0 Pnc finaneal Scerke4 888 525.00 138% (51.000.000) 5996.483 50 4-0412 25.00 2491 (13.520) 19-A0-12 Popmal 27,0:0 Pnc finaneal Scerket 888 525.00 6.13% ($675,000) 5678,159 50 94da)`12 25.00 25_12 53.159 29.Feb.12 3/15/2042 170.0:0 Remond Mine, einanowl 608 525.0 690% (54,250.0):0 56301.0% 50 1-1.44c-12 25.0 2530 551.00 31-14n-11 Perelvel 20.000 fiesky Inearne COM 60. 525.0 663% ($9:40001 1499.603 50 8446-12 25.0 24% <1400 14-Aug-12 Popmal 260:0 ReencyCmtars Cowp 884 525.00 6_00% ($625,000) 5624,003 50 28-Aug-12 25.00 2496 <51.000) 25 04-12 Perpacual 260:0 Rogionsfinanwl Corp 88 525.00 638% ($625,000) 5617.475 50 11 Dec.12 25.00 24_70 (57.525) 7-4W-12 Pepelvel 30.0:0 SiGreenReeher<orp 8. 525.0 650% ($750.0001 $)43.010 50 16-A4942 25.0 24 77 (56.990) 8-14ey-12 5/15/2015 4.000 Ihomplonetek Weh Co N/A 525.0 650% ($1C40001 134.524 50 29-4.14y-12 25.0 21.13 315.4761 111.4-12 Porpacual 100:0 Vornado Roatty Trun 8138. 525.00 5..70% (5250000) 5247.250 50 24401-12 25.00 24_73 (52.750) 9-4W-12 Perelvel nee Well, Fege 6 ComP449 668. 5X.0 520% ($2540001 1249.790 50 13,6401 25.0 24% 6210) 6-4W-12 Perelvel 31.7co Kdroy Re00Corp N/A 5001 638% ernsem snto)o $0 28.Au2-12 25.0 24 51 15164701 6 Aug-12 Porp4<ual 300 Kiltoy Rute Corp N/A 5401 638% 07.5001 57,295 50 17-Aug-12 25.00 2432 (5205) EFTA01121585 GI 0 n4.1.1 Oneortustelle. Morgan Securtties LLC Global Investment Opportunities Group Account Position and MTM Summary (2012 Closed Positions) Propared for Southem Ftnoval 1.1C as of Apr0 30. 2013 florveard Coneracts li nd.. Date Wauenat. Itouglet Honanal Sold Noteneil tim Date Contrakt Spot 12.0“.11 68.2912 Sm 2249350 USD 2500.000 6F012 13005 2,11oel 1 640912 SGO 1182000 USD 2.900.000 6 Feb 12 12734 98.9.12 6.1.4.9.12 560 3.115000 VS0 L500.000 6.11er.12 12460 21.1u1.10 25101.13 ONO' Comt.F3 251:0000 16.8.18 19Jun.12 13201.12 MIN 12902000 USD 939004 2330112 136898 19-10-12 23.Aug-12 1A)01 12.900.00 USD 972.213 23-At»12 132362 12/19912 2149 12 1.4811 12.900.00 USD 976356 214ep-12 13 1816 2058p 12 2402.12 MyN 12902000 uSD 994,768 240r1.12 1292895 31 Aug 12 5.Nov.12 CHF 11.992000 EUR 14000.000 541».12 1201 23.0cl.12 26.11.»12 1.001 12 900.000 V50 9144.089 26-14.»12 124122 21 Nov12 19 Otc-I2 1.001 12.9)3000 e 7,677 19.1)“.12 13 0382 Contract Jotward ( Date Pa 25.1».12 137 552472 2.Feb.12 IX $53.755 94eb-12 (57202/ 28.1un.12 12034 $1,956.738 19401.12 1334 134.659 17.Aug-I2 13.18 54424 »Sep-12 12.93 521.405 2.9.13n.12 1234 11,972 121 1584.8121 21./lov.I2 1304 (SAM 18 Oec 12 12 73 $25.686 12997 12732 1246 117248 132682 132124 1196785 1.199 129767 17!"."IV‘h forward Contracte PA FX Option. Trad. Date (Kprealien Derectron Typ' CunenCy 2 Notional laritte cureency 2 25-len-12 24.9•913 kurt Put 195.0:0430 42.50 pre 20.Apn12 22480912 Beugt" JPY Pul %.0:4000 83.00 20.Apn12 16.61er-12 22480912 19.1on-12 Soll tought JPY ROM 011 (all 20:4000 I.0»003 81.00 12.57 Uuso usw 16.61a012 19Jun.12 Soll 61101 Put 1,004000 12.93 uso 1 Aug II 13.Aug.12 Beught .19( Put 1040:0000 8325 CAD Ca 12.'941 13.Aug-12 Sold JPY (all 00.0:0.000 7602 CAD Put 52.041.10/ Closing Dato Original (boing Proton proffism (5.3 15/ PAL 21 413•12 5125.734 SO $125.734 (57,7.30D1 SO 15245001 526.500 10 $26.500 19.1un-12 (517.2031 So 1517.201 194un.12 $17200 l$58,»A) 341394/ SAug.12 ($13.613) SO 19113.613/ taug-12 5413913 10 $413.613 5673-.0 Oeiginal (le•ing Premium Cto,no Date Premium IS) 12-Nov-12 S1.017.500 So $1,117.50000 12.Nov.12 075.0031 50 1175.0»001 12.Nov.12 5184200 Se0 $I114.0:000 12.Nov.12 C184.0091 SO (SICK« 001 12.Nov.12 5136250 151.012.5001 (%76250.001 12.Nov.12 S136.250 SO 913625000 12.Nov.12 (5200.003) SO (5206000 .001 12.Nov.12 $233.00 SO 5233000.00 12.Nov.12 ($233.003) SO (5233000.001 FX Option, AR Ornmodity Optiert Tralla Date Expira von Divertion Coenmedit) Type National (er) Strike Cutrency 7lettenal 27-Jun-I2 12.11ov-12 Sold USD Pot 125003 96.5 12.062.500 27-Jon-12 12.Nov.12 Botet USD (all 123003 126.5 1813129» 10.1u1.12 12.Nov.12 Sold Soll USD Put 104000 eo 8003,000 194912 19110912 Beugte USD Pell 100000 1195 11.9520» 1.M•912 13.Aug-12 Sold USD Put 2%000 100 250040/70 1.Ma912 13.Aug.12 Soll USD Put 292000 100 290024:03 imay•12 13.Aug.12 Beught USD 011 292000 140 380020:0 10-98-12 11-Dec-12 Sold USD Put 102000 79.5 7.950.000 10-4912 11.0ec-12 flauet USD an 102000 119 11.904000 TYP. ZiniZ2Ze Correnectlity Options Pk 577.500 Total 2012 Pil. 59 106 514 roX13PMOpnQa,e6c EFTA01121586 GIO isleirma Seremrame Carnioninsise. Global Investment Opportunities Group Account Position and P/L Summary (Disclaimer) Prepared for Southern Financial LLC as of April 30, 2013 J.P. Morgan Securities LLC. IMPORTANT INFORMATION adore. Accordingly. ny discussion of U.S. tax matters contained herein (including any attachment) is not int nded or written to be used. and cannot be used. in connection with the promotion. mateting or recommendation by anmne unaffiliated with 1PAlorgan Chase a Co. of any of the matters addressed heroin or for the purpose of molding U.E. tax-related penalties. 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Pease rotor to yes monthly accost statamoM for thedistal record al al ot your account adirilieS FM quintet.. Peen PM year J P. Morgan fferesertetwe. The Waning is being provided kw inlonnadcrol purposesmet an:Pat In response to your reepeastInlonnacen contained tilt master ard Yg accemprwrg ctcumentabon. Mdudrp but not Mined to any research. market vas-Mons. statements. ecestrrnuarp. caeulatord or estimates. Is believed to be ratable. but Ivodorot warrant Is completeness or accuracy. Cpntris and maimates commute ourµdgment and are sigoci to change anon notice. Past portormanoe is net indicative of futureresifts. LTI5 maNnal 4 not intended as an aloe or soaola0on ter MO purchase or sales any nriancial Arnim/M. IToloteatt.dealcus ander died agnates ardarpoycos may hada poslicei or ad as matt maker n the f ramie, instruments d any ewer discussed Won or act as unSornrctt. elmemett agva, a0nsor lender to such eltruer. Vaivatens breaded reelect once °Menefee On 11*c:refe(s) specified SIMKO formalisms n those documents has been Ctraced from sources belionad to be fallible. JPINOtgall Chase a Co. and its alediatos do rot parent.° es accuracy or competonoss and accept ro Melly for any dyed or consecrates, losses ansmg trom ts use. Tits infonnaban is la the sob use of the penal to whom n is adiressod. and may be pnologod and ocerldentlaL My usu.Orsini:coon. or 04:4Icallon by anyone other than law addressee is proilblied. II you I MOW° this in error. Meese natty the sender immediately and return it by med. (0 2013 !Morgan Chase & Co. EFTA01121587