NARROWS/LDB FINE ART

NARROWS/LDB FINE ART UNREALIZED LO TO HI JULY 2014 SOTHEBY'S Artist Item Description Total Paid (in USD) Sotheby's Appraised Value (July 2014) Fair Value (% Ownership) or Cost (if not on Appraisal) Fair Value Less Total Paid CUMULATIVE VALUE CUMULATIVE UNREALIZED P&L MANET. EDOUARD Portrait de Berthe Morisot 25,226.302 15,000.000 15,000.000 (10,226.302) 15.000.000 (10,226.302) SMITH. DAVID Cubi II 25,770.000 22,000.000 22,000.000 (3,770.000) 37.000.000 (13.996.302) PICASSO. PABLO Tete d'homme 9,103.500 7,000.000 7,000.000 (2,103.500) 44.000.000 (16,099.802) ROTHKO, MARK Black. White, Blue 5.429.315 3,500.000 3,500.000 (1,929.315) 47.500.000 (18,029.117) DAVID. JACQUES-LOUT: Les amours de Paris et Helene 4,928.028 3,500.000 3,500.000 (1,428,028) 51,000.000 (19,457.145) STRAET, JAN VEN DER, Disegni Rappresentanti it Purgatorio Di Dante Alighi 1,525.000 175.000 175.000 (1,350,000) 51,175.000 (20,807.145) PICASSO. PABLO Tete moustachue 8.165.625 7.000.000 7.000.000 (1.165,625) 58.175.000 (21.972,770) DE GOYA. FRANCISCO Bull Held by a Cord 13,146.222 12,000.000 12,000.000 (1,146.222) 70,175.000 (23,118,992) REMBRANDT VAN RIJN Christ Crucified Between Two Thieves (The Three C 2.384.250 1.400.000 1.400.000 (984.250) 71.575.000 (24.103.242) KELLY. ELLSWORTH Diagonal with Curve XVI 1,665.788 700.000 700.000 (965.788) 72.275.000 (25,069,029) NOGUCHI. ISAMU Personnage III (Ningen 3) 2,147.500 1,200.000 1,200.000 (947.500) 73.475.000 (26,016.529) DE TOULOUSE-LAUTRE Au bal de l'opera 10,968.634 10,125.000 10,125.000 (843.634) 83.600.000 (26,860.163) KIEFER. ANSELM Isis on the Way 1,625.625 800.000 800.000 (825.625) 84.400.000 (27,685.788) INGRES. JEAN-AUGUST Baronne Charles-Atharase Walckenear. nee Marie-. 1.296.630 500.000 500.000 (796.630) 84.900.000 (28.482.418) DE GOYA. FRANCISCO La culpa es tuya (C'est de la faute) (It's all your fault 2,778.085 2,000.000 2,000.000 (778.085) 86.900.000 (29,260.503) MATISSE. HENRI Femme assise en blouse Roumaine motifs de broth 3.266.250 2.500.000 2.500.000 (766.250) 89.400.000 (30.026,753) REMBRANDT VAN RIJN Group of six prints including the Six Portrait. 100 Gu 9,254.375 8,500.000 8,500.000 (754.375) 97.900.000 (30,781.128) MANET. EDOUARD La posada (The tavern or Before the Corrida) 2.994.063 2,250.000 2,250.000 (744.063) 100.150.000 (31,525.190) KLEE. PAUL Untitled 4,725.220 4,000.000 4,000.000 (725.220) 104.150.000 (32,250.410) miFte, JOAN Oiseau Lunaire 4,191.688 3,500.000 3,500.000 (691.688) 107.650.000 (32,942,098) GONZALEZ. JULIO Homme gothique 3,100.324 2,500.000 2,500.000 (600.324) 110.150.000 (33,542,422) COROT, JEAN-BAPTISTI Portrait of Mlle. Jeanne Farochon 1,082.500 500.000 500.000 (582.500) 110.650.000 (34,124.922) SCHIELE. EGON Seated Nude Violet Stockings 3.375.125 2.800.000 2.800.000 (575.125) 113.450.000 (34.700.047) GAUGUIN. PAUL Self-Portrait 5,062.688 4,500.000 4,500.000 (562,688) 117.950.000 (35,262.734) ZHANG HUAN Airplanes 758.625 200.000 200.000 (558,625) 118.150.000 (35.821.359) MANET. EDOUARD Huitres 6,502.500 6,000.000 6,000.000 (502.500) 124.150.000 (36,323.859) CEZANNE. PAUL Le jardin des Lauves: Vue sur Aix et le Cathedrale c 5,960.625 5,500.000 5,500.000 (460,625) 129.650.000 (36,784.484) KIRCHNER. ERNST LUD Wettertannen (D. H 392) 1,439.992 1,000.000 1,000.000 (439,992) 130.650.000 (37,224.476) MATISSE. HENRI Rendering of the Barnes Mural in Progress 2,177.500 1,750.000 1,750.000 (427.500) 132.400.000 (37,651.976) SEVERINI, GINO L'autobus 1,418.229 1,000.000 1,000.000 (418.229) 133.400.000 (38,070.205) CARRACCI. LUDOVICO St. John The Evangelist 877.489 460.165 460.165 (417.324) 133.860.165 (38,487.529) MILLET. JEAN-FRANGOI La ravaudeuse (Madame Millet) 570.833 175.000 175.000 (395.833) 134.035.165 (38.883.363) VAN DYCK, SIR ANTHOt Two Studies of a Bearded Man 7,893.482 7,500.000 7,500.000 (393,482) 141.535.165 (39,276.844) SCHONGAUER Group of Prints. Including the large Crucifixion 4.355.000 4.000.000 4.000.000 (355,000) 145.535.165 (39.631.844) TINTORETTO, JACOPO Study of male nude lying on the ground 854.233 500.000 500.000 (354.233) 146.035.165 (39,986,078) GIACOMETTI, DIEGO Chandelier 1,449.563 1,100.000 1,100.000 (349.563) 147.135.165 (40,335.640) REDON. ODILON La Tentation de Saint-Antoine 1,573.244 1,250.000 1,250.000 (323.244) 148.385.165 (40,658.884) BALDUNG. HANS Head of a Man, in Three-Quarter-Profile to the Left 4,022.880 3,700.000 3,700.000 (322.880) 152.085.165 (40,981.764) CEZANNE. PAUL Sous-bois and Chapeau et fleurs dans une bouteille 3.320.367 3.000.000 3.000.000 (320.367) 155.085.165 (41.302,131) DAUMIER, HONORE Galerie de tableaux (Les Amateurs de tableaux) 3,810.625 3,500.000 3,500.000 (310.625) 158.585.165 (41,612,756) DUVET. JEAN Group of Prints including the Apocalypse 3.810.625 3.500.000 3.500.000 (310.625) 162.085.165 (41.923.381) KLEE. PAUL Exotische Flusslandschaft 1,306.054 1,000.000 1,000.000 (306.054) 163.085.165 (42,229.435) INGRES. JEAN-AUGUST Portrait de Mlle. Jeannette Hayard 1.100.000 800.000 800.000 (300,000) 163.885.165 (42.529.435) REDON. ODILON Bouquet de fleurs 2,800.000 2,500.000 2,500.000 (300,000) 166.385.165 (42,829.435) Page 1 of 7 EXCLUDES WORKS PARTIALLY OWNED AND PLEDGED TO CHARITY EFTA01199570 NARROWS/LDB FINE ART UNREALIZED LO TO HI JULY 2014 SOTHEBY'S Artist Item Description Total Paid (in USD) Sotheby's Appraised Value (July 2014) Fair Value (% Ownership) or Cost (if not on Appraisal) Fair Value Less Total Paid CUMULATIVE VALUE CUMULATIVE UNREALIZED P&L REDON. ODILON Les Fleurs du Mal 1,769.219 1,500.000 1,500.000 (269.219) 167.885.165 (43,098,654) INGRES. JEAN-AUGUST Portrait presume de Gioacchino Rossini 768.065 500.000 500.000 (268.065) 168.385.165 (43,366.719) MASTER E. S. Group of 15th Century Prints. Including the initial "hr 3,266.250 3,000.000 3,000.000 (266.250) 171.385.165 (43,632.969) HALS. FRANS Portrait of a Man Holding a Book 5,263.016 5,000.000 5,000.000 (263.016) 176.385.165 (43,895.985) ZUCCARO. TADDEO A Bacchic procession with drunken Silenus 341.246 80.000 80.000 (261.246) 176.465.165 (44,157.231) miFte, JOAN Pastorale 1,056.656 800.000 800.000 (256.656) 177.265.165 (44,413.887) GELLEE. CLAUDE CALL View of Civitavecchia with a Draughtsman and Figui 2.255.330 2.000.000 2.000.000 (255.330) 179.265.165 (44.669.217) DELACROIX, EUGENE Portrait de Schmareck, tanneur a Tanger 800.095 550.000 550.000 (250.095) 179.815.165 (44,919.312) KUBIN. ALFRED The Swarm 287.197 70.000 70.000 (217.197) 179.885.165 (45.136.509) DE GOYA. FRANCISCO Bulls of Bordeaux: a group of four (El Americano, Bt 714.450 500.000 500.000 (214.450) 180.385.165 (45,350.959) KLEE. PAUL WI (In Memoriam) 2,613.000 2,400.000 2,400.000 (213.000) 182.785.165 (45,563.959) PRUD'HON. PIERRE-PAI Portrait de Madame Pearl de Saint-Gilles 453.688 250.000 250.000 (203.688) 183.035.165 (45,767.647) ZHANG WAN Ash Skull No. 14 346.800 150.000 150.000 (196.800) 183.185.165 (45,964.447) VAN MECKENEM. ISRAF Group of Prints 2.177.500 2.000.000 2.000.000 (177.500) 185.185.165 (46.141.947) DURER. ALBRECHT Group of Prints: Woodcuts and Engravings Including 2,177.500 2,000.000 2,000.000 (177.500) 187.185.165 (46,319.447) KANDINSKY. VASSILY Above and Left 6,177.375 6.000.000 6.000.000 (177.375) 193.185.165 (46.496.822) KLEE. PAUL Frauenportrait in Rot (Bertha) 1,375.000 1,200.000 1,200.000 (175.000) 194.385.165 (46,671.822) GIACOMETTI, DIEGO Pair of Andirons 299.898 125.000 125.000 (174.898) 194.510.165 (46,846.720) REDON. ODILON Beatrice 868.125 700.000 700.000 (168.125) 195.210.165 (47,014.845) REDON. ODILON Dans le rave (Mellerio 27-36) 205.675 40.000 40.000 (165.675) 195.250.165 (47,180.520) RICKEY. GEORGE Two Lines Up Excentric - Twelve Feet 762.125 600.000 600.000 (162.125) 195.850.165 (47,342.645) MILLET. JEAN-FRANcOl Cooper Tightening Staves on a Barrel 286.863 125.000 125.000 (161.863) 195.975.165 (47,504.507) CARPACCIO. VITTORE Study of a Lion 1.850.875 1.700.000 1.700.000 (150.875) 197.675.165 (47.655.382) GIACOMETTI, DIEGO Pedestal a l'oiseau 324.750 175.000 175.000 (149.750) 197.850.165 (47,805.132) KLEE. PAUL Weib und Tier (Kornfeld. no. 3) 249.458 100.000 100.000 (149.458) 197.950.165 (47.954.590) CONSTABLE. JOHN Cloud Study 598.813 450.000 450.000 (148.813) 198.400.165 (48,103.403) KLEE. PAUL Tief-Ebene (Lowlands) 1,897.564 1,750.000 1,750.000 (147.564) 200.150.165 (48,250.967) LELY. SIR PETER A standing figure of a gentleman from the Processic 1,794.461 1,648.165 1,648.165 (146.296) 201.798.330 (48,397.263) VALDES. MANOLO Ariadna I 695.050 550.000 550.000 (145.050) 202.348.330 (48,542.313) NOLDE. EMIL Junges Paar (S. L52) 228.969 90.000 90.000 (138.969) 202.438.330 (48,681.282) GIACOMETTI, ALBERTO Jean-Paul Sartre 385.988 250.000 250.000 (135.988) 202.688.330 (48,817.269) WESSELMANN. TOM Nude with Floral All (Large Black) 385.000 250.000 250.000 (135.000) 202.938.330 (48.952.269) ENSOR. JAMES Alimentation doctrinaire - Doctrinal Nourishment (T.: 248.235 114.000 114.000 (134.235) 203.052.330 (49,086.504) BECKMANN. MAX Bei der Toilette (At the Toilette) (H. 261 B: GI. 232: i 150.000 20.000 20.000 (130.000) 203.072.330 (49.216.504) CASTELLANI. ENRICO Superficie bianca 402.315 275.000 275.000 (127.315) 203.347.330 (49,343.819) CHASSERIAU. THEODO Recto: Portrait of a Little Couloughi 249.022 125.000 125.000 (124.022) 203.472.330 (49,467.841) KLEE. PAUL Weib und Tier - Inv. 1 (Kornfeld. no.13) 273.102 150.000 150.000 (123.102) 203.622.330 (49,590.943) KLIMT, GUSTAV Reclining Woman to the Right 570.692 450.000 450.000 (120.692) 204.072.330 (49,711.635) REMBRANDT VAN RIJN Christ Crucified Between Two Thieves (The Three C 1.517.250 1.400.000 1.400.000 (117.250) 205.472.330 (49.828.885) DELACROIX, EUGENE Mariee juive a Tanger 1,115.000 1,000.000 1,000.000 (115.000) 206.472.330 (49,943.885) WRIGHT OF DERBY. JO A Grotto in the Gulf of Salerno. Morning and A Griot( 1.408.875 1.300.000 1.300.000 (108.875) 207.772.330 (50.052.760) FRA BARTOLOMMEO (B Studies of Heads: a double-sided drawing 2,107.894 2,000.000 2,000.000 (107.894) 209.772.330 (50,160.654) GROSZ. GEORGE L'uomo nuovo 1.431.161 1.325.000 1.325.000 (106.161) 211.097.330 (50,266.815) KLEE. PAUL Die Schlange 1,103.888 1.000.000 1,000,000 (103.888) 212.097.330 (50,370.703) Page 2 of 7 EXCLUDES WORKS PARTIALLY OWNED AND PLEDGED TO CHARITY EFTA01199571 NARROWS/LDB FINE ART UNREALIZED LO TO HI JULY 2014 SOTHEBY'S Artist Item Description Total Paid (in USD) Sotheby's Appraised Value (July 2014) Fair Value (% Ownership) or Cost (if not on Appraisal) Fair Value Less Total Paid CUMULATIVE VALUE CUMULATIVE UNREALIZED P&L BAROCCI. FEDERICO Redo: Studies of Angels and Children's Heads 503.107 400.000 400.000 (103.107) 212.497.330 (50,473.810) KLEE. PAUL Chinesisch II 1,300.500 1,200.000 1,200.000 (100.500) 213.697.330 (50,574.310) MATISSE. HENRI Autoportrait 270.625 175.000 175.000 (95.625) 213.872.330 (50,669.935) KLIMT, GUSTAV Reclining Woman with Bent Arms 345.419 250.000 250.000 (95.419) 214.122.330 (50,765.354) TURNER. R.A.. JOSEPH Kilgarren Castle, Pembrokeshire 693.875 600.000 600.000 (93.875) 214.722.330 (50,859.229) SERRA. RICHARD Transparency #3.2012 193.569 100.000 100.000 (93.569) 214.822.330 (50,952.798) DORER. ALBRECHT Adam and Eve (Bartsch 1: Meder state Ila of Illd) 1.192.125 1.100.000 1.100.000 (92.125) 215.922.330 (51.044.923) SERRA. RICHARD Transparency #2.2012 191.529 100.000 100.000 (91.529) 216.022.330 (51,136.452) PICASSO. PABLO Etude de personnages 1,291.000 1.200.000 1.200.000 (91.000) 217.222.330 (51.227.452) ENSOR. JAMES Self Portrait 489.938 400.000 400.000 (89.938) 217.622.330 (51,317.389) GERICAULT. THEODORE Untitled (Leda and the Swan) 1,088.750 1,000.000 1,000.000 (88.750) 218.622.330 (51,406.139) DORER. ALBRECHT Saint Anthony Reading 420.802 336.500 336.500 (84.302) 218.958.830 (51,490.441) REDON. ODILON After Edgar A. Poe (Mellerio 37-43) 162.375 80.000 80.000 (82.375) 219.038.830 (51,572.816) BOUCHER. FRANQOIS Sheet of Studies of a Turbanned Head. a Foot, and 847.857 770.000 770.000 (77.857) 219.808.830 (51.650.673) INGRES. JEAN-AUGUST Mere et enfant (Esquisse de le Martyre de Saint Syr 200.263 125.000 125.000 (75.263) 219.933.830 (51,725.936) SEURAT. GEORGES Cavalier sur une route 1,575.214 1.500.000 1.500.000 (75.214) 221.433.830 (51,801.150) LONG. RICHARD Sun Line 325.125 250.000 250.000 (75.125) 221.683.830 (51,876.275) LONG. RICHARD Cornish Slate Cross 325.125 250.000 250.000 (75.125) 221.933.830 (51,951.400) DENIS. MAURICE Jeunes lilies cueillant des fleurs devant la mer 572.400 500.000 500.000 (72.400) 222.433.830 (52,023.800) FOSSE. CHARLES DE b A mounted soldier. seen from behind 429.829 360.000 360.000 (69.829) 222.793.830 (52,093.629) KELLY. ELLSWORTH Brushstrokes Cut into Thirty-five Squares and Arran 293.962 225.000 225.000 (68.962) 223.018.830 (52,162.591) PIRANESI, GIOVANNI An Architectural Fantasy with a Colossal Obelisk 867.000 800.000 800.000 (67.000) 223.818.830 (52,229.591) DAUMIER. HONORE L'amateur d'estampes 315.498 250.000 250.000 (65.498) 224.068.830 (52.295.089) BELLOWS. GEORGE WE Dempsey and Firpo (M. 181) 127.735 65.000 65.000 (62.735) 224.133.830 (52,357.824) KHNOPFF. FERNAND De animalite 121.781 60.000 60.000 (61.781) 224.193.830 (52.419.605) KIRCHNER. ERNST LUD Kopf Ludwig Schames (O.H 330) 100.000 40.000 40.000 (60.000) 224.233.830 (52,479.605) NOLDE. EMIL Junges Pear (S.L52) 150.000 90.000 90.000 (60.000) 224.323.830 (52,539.605) LENNON. JOHN Autograph manuscript of John Lennon's lyrics for the 1,309.222 1,250.000 1,250.000 (59.222) 225.573.830 (52,598.827) NOLDE. EMIL Junges Paar (S.L52) 233.658 175.000 175.000 (58.658) 225.748.830 (52,657.486) MULTIPLE ARTISTS A Selection of Early German Prints 707.688 650.000 650.000 (57.688) 226.398.830 (52,715.173) DAVID. JACQUES-LOUIE Portrait of a Revolutionary in Profile Facing Left 255.000 200.000 200.000 (55.000) 226.598.830 (52,770.173) FRAGONARD. JEAN-HO Landscape with a Double Flight of Steps and Eight I 654.913 600.000 600.000 (54.913) 227.198.830 (52.825.086) REMBRANDT VAN RIJN The Three Trees (Bartsch 212: White/Boon. only st 704.438 650.000 650.000 (54.438) 227.848.830 (52,879.523) VASARI. GIORGIO Christ Giving Saint Peter the Keys (Le Christ donna 588.621 535.000 535.000 (53.621) 228.383.830 (52.933.145) FRIEDRICH. CASPAR Or Das grosse gehege 1,302.828 1,250.000 1,250.000 (52.828) 229.633.830 (52,985.972) REMBRANDT VAN RIJN A Vagrant Couple with a Dog 672.792 620.000 620.000 (52.792) 230.253.830 (53,038.764) BRUEGEL THE ELDER. I The Rabbit Hunt 677.344 625.000 625.000 (52.344) 230.878.830 (53,091.108) BEARDSLEY. AUBREY % The Achieving of the Sangreal 175.000 125.000 125.000 (50.000) 231.003.830 (53,141.108) COROT. JEAN-BAPTISTI Rome. La Vasque de la Villa Medici 550.000 500.000 500.000 (50.000) 231.503.830 (53,191.108) GIACOMETTI, DIEGO Pair of Lamps Decorated with Owl and Cup 165.622 120.000 120.000 (45.622) 231.623.830 (53,236.730) BECKMANN. MAX Selbstbildnis mit Steifem Hut (H.180: GL.157: G.15'E 120.000 75.000 75.000 (45.000) 231.698.830 (53.281.730) REMBRANDT VAN RIJN Landscape with Three Gabled Cottages Beside a Ri 544,375 500.000 500.000 (44.375) 232.198.830 (53,326.105) WATTEAU. JEAN-ANTOI Untitled (Cottage) (Landscape after Campagnola) 544,375 500.000 500.000 (44,375) 232.698.830 (53.370.480) DUTCH AND FLEMISH. 1 Group of prints including examples by Lucas van Le 544,375 500.000 500.000 (44,375) 233.198.830 (53,414.855) Page 3 of 7 EXCLUDES WORKS PARTIALLY OWNED AND PLEDGED TO CHARITY EFTA01199572 NARROWS/LDB FINE ART UNREALIZED LO TO HI JULY 2014 SOTHEBY'S Artist Item Description Total Paid (in USD) Sotheby's Appraised Value (July 2014) Fair Value (% Ownership) or Cost (if not on Appraisal) Fair Value Less Total Paid CUMULATIVE VALUE CUMULATIVE UNREALIZED P&L EARLY ITALIAN AND SP Group of prints including The Campagnola 544.375 500.000 500.000 (44.375) 233.698.830 (53,459.230) BURNE-JONES. EDWAR Sir Galahad 243.563 200.000 200.000 (43.563) 233.898.830 (53.502.793) NOLDE. EMIL Segelboat (S.H.37) 58.500 15.000 15.000 (43.500) 233.913.830 (53,546.293) KLEE. PAUL Charme (Weiblich Anmut) Invention no. 5 (K.12) (Fe 103.431 60.000 60.000 (43.431) 233.973.830 (53,589.724) ENSOR. JAMES La Vengeance de Hop Frog (Hop Frog's Revenge 113.310 70.000 70.000 (43.310) 234.043.830 (53,633.034) CARRACCI. ANNIBALE Return of the Prodigal Son 342.073 300.000 300.000 (42.073) 234.343.830 (53,675.107) GREUZE. JEAN-BAPTIS" Portrait of a Young Gentleman 456.152 415.000 415.000 (41.152) 234.758.830 (53.716.259) DAVID. JACQUES-LOUIE The Ghost of Septimus Severus Appearing to Carac 520.200 480.000 480.000 (40.200) 235.238.830 (53,756.459) BOURDELLE. EMILE AN Penelope 60.000 20.000 20.000 (40.000) 235.258.830 (53.796.459) KIRCHNER. ERNST LUD Billiardspieler (D. L290) 110.000 70.000 70.000 (40.000) 235.328.830 (53,836.459) GAINSBOROUGH, THOh Wooded Landscape with Figures Outside a Cottage 189.438 150.000 150.000 (39.438) 235.478.830 (53,875.897) SERRA. RICHARD Conrad 538.931 500.000 500.000 (38.931) 235.978.830 (53,914.828) SERRA. RICHARD Olson 538.931 500.000 500.000 (38.931) 236.478.830 (53,953.759) KLEE. PAUL Invention 8 - Perseus (Der Witz hat uber das Leid g, 88.733 50.000 50.000 (38.733) 236.528.830 (53.992.492) ALTDORFER, ALBRECH A Landscape with Two Pine Trees in the Center (B. 588.621 550.000 550.000 (38.621) 237.078.830 (54,031.114) GORKY. ARSHILE Nighttime. Enigma and Nostalgia 163.375 125.000 125.000 (38.375) 237.203.830 (54.069.489) BELLOWS. GEORGE WE A Stag at Sharkey's (M.46) 133.688 100.000 100.000 (33.688) 237,303.830 (54,103.177) DERAIN. ANDRE Figures in a Landscape 433.000 400.000 400.000 (33.000) 237.703.830 (54,136.177) DUBUFFET. JEAN Table au couvert dresse 92.012 60.000 60.000 (32.012) 237.763.830 (54,168.189) GIACOMETTI, ALBERTO Lampadaire a la tote de femme 131.662 100.000 100.000 (31.662) 237.863.830 (54,199.851) MASTER L. CZ. Untitled 381.063 350.000 (31.063) 238.213.830 (54,230.913) BURNE-JONES. EDWAR The Wise and Foolish Virgins 805.600 775.000 775.000 (30.600) 238.988.830 (54,261.513) MODIGLIANI. AMEDEO Caryatid, Frontal View. with Background. Hands Bel 380.188 350.000 350.000 (30.188) 239.338.830 (54.291.701) DORER. ALBRECHT Coat of Arms with a Skull 368.542 338.500 338.500 (30.042) 239.677.330 (54,321.743) MARIN. JOHN From Crotch Isle. Maine 60.000 30.000 30.000 (30.000) 239.707.330 (54.351.743) KIRCHNER. ERNST LUD Artistenkind-Marcella (Dube L. 136, I of II) 80.000 50.000 50.000 (30.000) 239.757.330 (54,381.743) HUGO. VICTOR A Figure Passing in the Horizon, a Gothic Chapel in 154.319 125.000 125.000 (29.319) 239.882.330 (54,411.062) DONGEN. KEES VAN Femme & sa toilette 54.000 25.000 25.000 (29.000) 239.907.330 (54,440.062) POUSSIN. NICOLAS Phedre with Cupid and Pegasus 728.515 700.000 700.000 (28.515) 240.607.330 (54,468.577) GIMHONGSOK Canine Construction 127.500 100.000 100.000 (27.500) 240.707.330 (54,496.077) DEGAS. EDGAR Danseuse mettant son bas 277.500 250.000 250.000 (27.500) 240.957.330 (54,523.577) REDON. ODILON Caliban 325.125 300.000 300.000 (25.125) 241.257.330 (54.548.702) TVVACHTMAN, JOHN HE Irises 55.000 30.000 30.000 (25.000) 241.287.330 (54,573.702) MOREAU. GUSTAVE Le jeune homme et la mort (Hommage o Chasseriai 275.000 250.000 250.000 (25.000) 241.537.330 (54.598.702) NOLDE. EMIL Calla and Sommerblumen 196.474 175.000 175.000 (21.474) 241.712.330 (54,620.176) PIAZZETTA. GIAMBATTI Standing Male Nude (recto). Seated Male Nude (vei 261.300 240.000 240.000 (21.300) 241.952.330 (54,641.476) BRESDIN. RODOLPHE A Battle Scene 100.131 80.000 80.000 (20.131) 242.032.330 (54,661.607) BRESDIN. RODOLPHE A Lion Hunt 100.131 80.000 80.000 (20.131) 242.112.330 (54,681.738) SERRA. RICHARD Solid No. 3 218.971 200.000 200.000 (18.971) 242.312.330 (54.700.710) SERRA. RICHARD Solid No. 11 218.971 200.000 200.000 (18.971) 242.512.330 (54,719.681) DIX. O11'O Mary 108.875 90.000 90.000 (18.875) 242.602.330 (54.738.556) SERRA. RICHARD Solid No. 13 218.189 200.000 200.000 (18.189) 242.802.330 (54,756.745) ENSOR. JAMES Mon atelier 34.100 16.000 16,000 (18.100) 242.818.330 (54.774.845) CHIRINO. MARTIN Cabenza 25.000 7.000 7,000 (18.000) 242.825.330 (54,792.845) Page 4 of 7 EXCLUDES WORKS PARTIALLY OWNED AND PLEDGED TO CHARITY EFTA01199573 NARROWS/LDB FINE ART UNREALIZED LO TO HI JULY 2014 SOTHEBY'S Artist Item Description Total Paid (in USD) Sotheby's Appraised Value (July 2014) Fair Value (% Ownership) or Cost (if not on Appraisal) Fair Value Less Total Paid CUMULATIVE VALUE CUMULATIVE UNREALIZED P&L JORDAENS. JACOB Study of a Man Seen from Behind 316.282 300.000 300.000 (16.282) 243.125.330 (54,809.127) MUNCH. EDVARD Vampyre (S.34: W.41) 265.776 250.000 250.000 (15.776) 243.375.330 (54,824,902) KLEE. PAUL Der Held mit dem Flu:lye! - Invention 2 (K.16) 115.584 100.000 100.000 (15.584) 243.475.330 (54,840.486) GILLOT. CLAUDE Celebration en l'honneur du dieu Pan (Celebration ii 215.390 200.000 200.000 (15.390) 243.675.330 (54,855.876) ZHANG HUAN Handicraftsman (from the Memory Door series) 195.075 180.000 180.000 (15.075) 243.855.330 (54,870.951) ZHANG HUAN Broomcorn Field (from the Memory Door series) 195.075 180.000 180.000 (15.075) 244.035.330 (54,886.026) ZHANG HUAN Stairs (from the Memory Door series) 195.075 180.000 180.000 (15.075) 244.215.330 (54.901.101) COROT, JEAN-BAPTISTI Vue de Volterra 85.000 70.000 70.000 (15.000) 244.285.330 (54,916.101) BECKMANN. MAX Taubstumme 84.435 70.000 70.000 (14.435) 244.355.330 (54.930.536) LONGHI, PIETRO Two Standing Women 174.200 160.000 160.000 (14.200) 244.515.330 (54,944.736) KIRCHNER. ERNST LUD Tanzerin mit gehobenem Rock (Dube W 141) 103.797 90.000 90.000 (13.797) 244.605.330 (54,958.533) DIDRER. ALBRECHT The Four Horsemen (Bartsch 64: Meder 167b) 373.642 360.000 360.000 (13.642) 244.965.330 (54,972.176) DE SAINT-AUBIN. GABR Victory of Tarquin over the Sabines and Etruscans 27.156 15.000 15.000 (12.156) 244.980.330 (54,984.332) KLEE. PAUL Greiser Phoenix - Inv. 9 (Kornfeld. 17) 131.493 120.000 120.000 (11.493) 245.100.330 (54.995.826) INGRES. JEAN-AUGUST Gabriel Cortois de Pressigny (Delteil 1 kith) 16.898 6.000 6.000 (10.898) 245.106.330 (55,006.723) BECKMANN. MAX Kasbek (H. 281: G. 245) 28.145 17.500 17.500 (10.645) 245.123.830 (55.017.368) ENSOR. JAMES La Belgique au XIXe siecle -- Belgium in the XIXth C 124.117 114.000 114.000 (10.117) 245.237.830 (55,027.485) SEURAT. GEORGES Arbres et bateaux 1,760.000 1,750.000 1,750.000 (10.000) 246.987.830 (55,037.485) VUILLARD. EDOUARD Le Mannequin 59.538 50.000 50.000 (9.538) 247.037.830 (55,047.023) ENSOR. JAMES Le Combat des pouilleux Desir et Rissole - the Figh 124.117 115.000 115.000 (9.117) 247.152.830 (55,056.140) ENSOR. JAMES Les Bains d'Ostende - The Baths at Ostend (T.115) 124.117 115.000 115.000 (9.117) 247.267.830 (55,065.257) BRESDIN. RODOLPHE Le Bon Samaritain (Neuman 49: Van Gelder 100) 88.568 80.000 80.000 (8.568) 247.347.830 (55,073.825) MILLET. JEAN-FRANQOI Sleeping Nude 283.075 275.000 275.000 (8.075) 247.622.830 (55.081.900) VON MENZEL. ADOLPH Christmas Eve 108.000 100.000 100.000 (8.000) 247.722.830 (55,089.900) MUNCH. EDVARD Eifursucht (grosse Fassung) (S. 58: W.69) 47.500 40.000 40.000 (7.500) 247.762.830 (55.097.400) BALDUNG. HANS Group of Seven Horses (Bartsch 56: Hollstein 238: 186.821 180.000 180.000 (6.821) 247.942.830 (55,104.221) ROSSETTI. DANTE GAB Studies for the Head of the Farmer in found' 31.427 25.000 25.000 (6.427) 247.967.830 (55,110.648) RANSON. PAUL ELIE Jeune femme a sa toilette 18.000 12.500 12.500 (5.500) 247.980.330 (55,116.148) BARYE. ANTOINE-LOUIE Cheval Turc 30.000 25.000 25.000 (5.000) 248.005.330 (55,121.148) BONNARD. PIERRE Nu a la baignoire 55.000 50.000 50.000 (5.000) 248.055.330 (55,126.148) BRESDIN. RODOLPHE Paysan au pied d'un arbre 64.950 60.000 60.000 (4.950) 248.115.330 (55,131.098) GORKY. ARSHILE Study for 'Blue Figure in Chair (Study after Picasso: 64.950 60.000 60.000 (4.950) 248.175.330 (55.136.048) GORKY, ARSHILE Study for 'Blue Figure in Chair (Study after Picasso: 64.950 60.000 60.000 (4.950) 248.235.330 (55,140.998) FRAGONARD. JEAN-HO The Reading (La Lecture) 654.913 650.000 650.000 (4.913) 248.885.330 (55.145.911) ERNST. AFTER MAX The Ocean (S./L. A3) 5.400 500 500 (4.900) 248.885.830 (55,150.811) BAKST. LEON Costume Design For A Young Hindu Prince In Le Di 33.983 30.000 30.000 (3.983) 248.915.830 (55,154.793) BAKST. LEON Costume Design For The Priest Soma From Le Diet 33.983 30.000 30.000 (3.983) 248.945.830 (55,158.776) KURTEN, STEFAN Northern Sky (Everybody's Happy Nowadays) 15.938 12.000 12.000 (3.938) 248.957.830 (55,162.714) CAVALLON. GIORGIO Untitled 7.794 4,000 4,000 (3.794) 248.961.830 (55.166.508) CAVALLON, GIORGIO Untitled 7.794 4,000 4,000 (3.794) 248.965.830 (55,170.302) CAVALLON. GIORGIO Untitled 7.794 4,000 4,000 (3.794) 248.969.830 (55,174.096) BERNINI. GIAN LORENZ Portrait of Ottaviano Castelli 253.679 250.000 250.000 (3.679) 249.219.830 (55,177.774) ROMANO. GUILO (GUIL( Satyr Crowned with Vine Leaves 252.514 250.000 250.000 (2.514) 249.469.830 (55.180.288) AVERY. MILTON Seven Palms 7.000 5.000 5.000 (2.000) 249.474.830 (55,182.288) Page 5 of 7 EXCLUDES WORKS PARTIALLY OWNED AND PLEDGED TO CHARITY EFTA01199574 NARROWS/LDB FINE ART UNREALIZED LO TO HI JULY 2014 SOTHEBY'S Artist Item Description Total Paid (in USD) Sotheby's Appraised Value (July 2014) Fair Value (% Ownership) or Cost (if not on Appraisal) Fair Value Less Total Paid CUMULATIVE VALUE CUMULATIVE UNREALIZED P&L AVERY. MILTON Birds and Sea (L. 60) 4.330 2.500 2.500 (1.830) 249.477.330 (55,184.118) MARSH. REGINALD Does Your Nose Clog Up Al 5.000 4.000 4.000 (1.000) 249.481.330 (55,185.118) REDON. ODILON Poemes 2.722 2.000 2.000 (722) 249.483.330 (55,185.840) DERAIN. ANDRE Profit de femme (Profile of a Woman) 5.500 5.000 5.000 (500) 249.488.330 (55,186.340) CHIRINO. MARTIN Espiral 7.307 7.000 7.000 (307) 249.495.330 (55,186.647) BECKMANN. MAX Fastnacht (H. 231: GI. 205: G. 201) 5.000 5.000 5.000 249.500.330 (55,186.647) DELACROIX. EUGENE Rencontre de cavaliers Maures (D.23) 5.000 5.000 5.000 249.505.330 (55.186.647) VUILLARD. EDOUARD Le masseur 30.000 30.000 30.000 249.535.330 (55,186.647) KLEE. PAUL Abenteuerlicher Fisch (Kornfeld. 1) 30.000 30.000 30.000 249.565.330 (55.186.647) RIVERA. DIEGO Cabeza de una Tehuana (Retrato de Juchiteca) 35.000 35.000 35.000 249.600.330 (55,186.647) FUSELI. HENRY A Threatening Head 35.000 35.000 35.000 249.635.330 (55,186.647) KIRCHNER. ERNST LUD Liegende akt auf dem Sofa 70.000 70.000 70.000 249.705.330 (55,186.647) TISSOT, JAMES La soeur ainee 125.000 125.000 125.000 249.830.330 (55,186.647) REDON. ODILON Le Cerf Volant 200.000 200.000 200.000 250.030.330 (55.186.647) ROBERT. HUBERT Escalier dans les jardins de la villa Famese a Capra 353.943 353.943 353.943 250.384.273 (55,186.647) VOUET. SIMON Portrait of a Woman with a Veil 400.000 400.000 400.000 250.784.273 (55.186.647) DEGAS. EDGAR Femme au bain 2,000.000 2,000.000 2,000.000 252.784.273 (55,186.647) VUILLARD. EDOUARD La mannequin 55.000 55.000 252.839.273 (55,186.647) IVORY COAST Baoule Mask Masque-heaume tgoli glin' 1,573.244 1,573.244 254.412.517 (55,186.647) RAUSCHENBERG, ROB I Spring Clearnace 462.719 462.719 254.875.235 (55,186.647) CAMBODIA (OR KORAT Standing Figure of Shiva 7,000.000 7,000.000 261.875.235 (55,186.647) AVERY. MILTON Mottled Hills 29.227 29.227 261.904.462 (55,186.647) BRANDT. WARREN Treasure Chest 16.667 16.667 261.921.129 (55.186.647) BRANDT, WARREN Pink Roses 10.667 10.667 261.931.796 (55,186.647) BRANDT. WARREN Western Union 2.667 2.667 261.934.462 (55.186.647) CRAWFORD. ELIZABET I The Great Game 920 920 261.935.383 (55,186.647) CORNELL. JOSEPH Hotel de l'Etoile (Suzy's Room) 435.500 435.500 262.370.883 (55,186.647) CORNELL. JOSEPH Untitled (Bird Box) 435.500 435.500 262.806.383 (55,186.647) DERAKSHANI. REZA Dark Soil I (from Sand Painting series) 10.875 10.875 262.817.258 (55,186.647) DERAKSHANI. REZA Dark Soil II (from Sand Painting series) 10.875 10.875 262.828.133 (55,186.647) DERAKSHANI. REZA Dark Soil III (from Sand Painting series) 10.875 10.875 262.839.008 (55,186.647) DERAKSHANI. REZA Dark Soil IV (from Sand Painting series) 10.875 10.875 262.849.883 (55.186.647) DERAKSHANI. REZA Dark Soil V (from Sand Painting series) 10.875 10.875 262.860.758 (55,186.647) ENSOR. JAMES Mon Pere mod - My dead father 97.988 97.988 262.958.745 (55.186.647) ERNST. JIMMY Untitled 8.100 8.100 262.966.845 (55,186.647) ENSOR. JAMES Isectes singuliers (Strange insects) 12.003 12.003 262.978.848 (55,186.647) ENSOR. JAMES Diables rosant Anges e Archanges (Devils thrashin( 155.212 155.212 263.134.061 (55,186.647) ENSOR. JAMES Le Christ Aux Enters (Christ in Embers) 65.987 65.987 263.200.048 (55,186.647) KAHN. WOLF Late Fall in CT. 19.017 19.017 263.219.065 (55.186.647) KAHN. WOLF Toward Blue Woods 4.384 4.384 263.223.449 (55,186.647) LEE. JENNY Half-Note No. 8 3.410 3.410 263.226.859 (55.186.647) LEIGHTON, FREDERIC L Studies of male figures in medieval dress for "The A 7.400 7.400 263.234.259 (55,186.647) LIN. MAYA Wire Landscape 27.156 27.156 263.261.415 (55.186.647) MASTER E. S. The Virgin with the Rosary on the Crescent 190.531 190.531 263.451.946 (55,186.647) Page 6 of 7 EXCLUDES WORKS PARTIALLY OWNED AND PLEDGED TO CHARITY EFTA01199575 NARROWS/LDB FINE ART UNREALIZED LO TO HI JULY 2014 SOTHEBY'S Artist Item Description Total Paid (in USD) Sotheby's Appraised Value (July 2014) Fair Value (% Ownership) or Cost (if not on Appraisal) Fair Value Less Total Paid CUMULATIVE VALUE CUMULATIVE UNREALIZED P&L MATISSE. HENRI Etude d'odahsgue 54.125 54.125 263.506.071 (55,186.647) MILLER. HENRY Love and Other Crimes 21.400 21.400 263.527.471 (55,186.647) OPPER. JOHN Untitled 12.990 12.990 263.540.461 (55,186.647) OAKES. TREVOR & RYA Have No Narrow Perspectives: The Bean 182.366 182.366 263.722.827 (55,186.647) PARDO. JORGE Untitled 117.585 117.585 263.840.412 (55,186.647) PICASSO. PABLO Femme assise dans un fauteuil 721.875 721.875 264.562.287 (55,186.647) PETERDI. GABOR Big Blue Eclipse 3.458 3.458 264.565.745 (55.186.647) RIBOT. THEODULE AUG Les eplucheuses de pommes de terre 65.175 65.175 264.630.920 (55,186.647) SIGNAC. PAUL La Rochelle 42.900 42.900 264.673.820 (55.186.647) SCHIELE. EGON Self-Portrait 20.000 20.000 264.693.820 (55,186.647) SCHWARTZ. ADAM Drive Shaft 7.000 7.000 264.700.820 (55,186.647) SCHWARTZ. ADAM Bomb Mill 6.500 6.500 264.707.320 (55,186.647) SAUNDERS. DAVID The Afterlife of Things 5.400 5.400 264,712.720 (55,186.647) SZTYBEL. PAMELA Housatonic II 15.173 15.173 264.727.892 (55.186.647) SZTYBEL, PAMELA A few clouds and a dark pond (near Manchester, Ve 27.156 27.156 264.755.048 (55,186.647) SZTYBEL. PAMELA Two Ponds (Bridgewater. CT) 13.035 13.035 264.768.083 (55.186.647) SZTYBEL, PAMELA Untitled 10.331 10.331 264.778.415 (55,186.647) SZTYBEL. PAMELA Tree in a Field 7.069 7.069 264.785.483 (55,186.647) SZTYBEL, PAMELA Rue de Courcelles (Mereville) 4.005 4.005 264.789.489 (55,186.647) SZTYBEL, PAMELA Little River in France 3.464 3.464 264.792.953 (55,186.647) THOMAS. GWENN Yellow and Black Colonnade: Ellis Island Series 2.632 2.632 264.795.585 (55,186.647) VIGEE LE BRUN. ELIZAE Autoportrait au chapeau a plume (Self portrait with h 523.106 523.106 265.318.692 (55,186.647) WELZ. REBECCA Threshold 4.896 4.896 265.323.587 (55.186.647) ZIMMERMAN. ELYN Stalled Cairn 80.063 80.063 265.403.650 (55,186.647) MASTER MZ (PROBABL' A Tournament 300.000 300.000 265.703.650 (55.186.647) POLIDORO DA CARAVA Vierge encre et lavis 273.462 273.462 265.977.112 (55,186.647) REMBRANDT VAN RIJN Diana at the Bath 200.000 200.000 266.177.112 (55,186.647) STIMMER. TOBIAS Saul threatening David with a Spear 2,041.406 2,041.406 268.218.518 (55,186.647) REMBRANDT VAN RIJN Jan Lutma 800.000 800.000 269.018.518 (55,186.647) REMBRANDT VAN RIJN Jan Uijtenbogaert, Preacher of the Remonstrants 400.000 400.000 269.418.518 (55,186.647) VAN DYKE. ANTHONY Group of 14 etchings 1,200.000 1,200.000 270.618.518 (55,186.647) JOHNS. JASPER Untitled 734.906 734.906 271.353.425 (55.186.647) JOHNS. JASPER Untitled 734.906 734.906 272.088.331 (55,186.647) JOHNS. JASPER Untitled 734.906 734.906 272.823.237 (55.186.647) 328,009.884 252,434.273 272,823.237 (55,186.647) Page 7 of 7 EXCLUDES WORKS PARTIALLY OWNED AND PLEDGED TO CHARITY EFTA01199576