EFTA Document EFTA01546770

SOUTHERN FINANCIAL, LLC 6100 RED HOOK QUARTER B3 ST THOMAS 00802 VIRGIN ISLANDS (U.S.) EFTA01546770 EFTA01546771 For the Period 7/1/13 to 7/31/13 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 69,666,847.06 0.00 23,070,855.53 33.49 $92,737,736.08 Ending Net Market Value 71,112,935.51 0.00 23,968,372.41 33.49 $95,081,341.41 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 EFTA01546772 In Value 1,446,088.45 0.00 897,516.88 0.00 $2,343,605.33 Start on Page 4 37 38 48 Client News The following information supersedes that which you received as part of your June statement insert, "J.P. Morgan Securities LLC, Important information and disclosures." SEC Regulation NMS Rule 607 - Payment for Order Flow JPMS LLC may pay from time to time for certain order flow in the form of discounts, rebates, reductions of fees or credits. As a result of sending orders to certain trading centers, JPMS LLC receives payment for order flow in the form of discounts, rebates, reductions of fees or credits. Under some circumstances, the amount of such remuneration may exceed the amount that JPMS LLC is charged by such trading centers. This does not alter JPMS LLC's policy to route customer orders to the trading center where it believes clients will receive the best execution, taking into account price, reliability, market depth, quality of service, speed and efficiency. 0000010010.15.0.15.00001.SOUTHAH.20130802 Consolidated Statement Page 1 EFTA01546773 THIS PAGE INTENTIONALLY LEFT BLANK EFTA01546774 For the Period 7/1/13 to 7/31/13 Consolidated Summary INVESTMENT ACCOUNTS Asset Allocation Equity Alternative Assets Cash & Fixed Income Market Value Accruals Market Value with Accruals Beginning Market Value 37,064,522.54 4,401.97 55,047,132.25 $92,116,056.76 621,679.32 $92,737,736.08 Ending Market Value 41,956,289.07 1,987,600.00 50,227,442.79 $94,171,331.86 910,009.55 $95,081,341.41 Change In Value 4,891,766.53 1,983,198.03 (4,819,689.46) $2,055,275.10 288,330.23 $2,343,605.33 Equity Current Portfolio Activity Beginning Market Value Net Contributions/Withdrawals Income & Distributions Change in Investment Value Ending Market Value Accruals Market Value with Accruals Period Value 92,116,056.76 12,193.36 80,889.62 1,962,192.12 $94,171,331.86 910,009.55 EFTA01546775 $95,081,341.41 Year-to-Date Value 0.00 90,292,978.99 610,622.34 3,267,730.53 $94,171,331.86 910,009.55 $95,081,341.41 Estimated 2,195,710.08 Current Annual Income Allocation 45% 2% 2,008,883.99 $4,204,594.07 53% 100% Alternative Assets Cash & Fixed Income Asset Allocation 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 EFTA01546776 For the Period 7/1/13 to 7/31/13 Consolidated Summary INVESTMENT ACCOUNT(S) YEAR-TO-DATE Portfolio Activity SOUTHERN FINANCIAL, LLC SOUTHERN FINANCIAL, LLC SOUTHERN FINANCIAL, LLC Total Value Account Number • Beginning Market Value 0.00 0.00 0.00 $0.00 Income Summary SOUTHERN FINANCIAL, LLC SOUTHERN FINANCIAL, LLC Total Value Account Number Net Contributions/ Withdrawals 68,068,729.31 22,224,216.19 33.49 $90,292,978.99 Income 440,454.94 20,167.91 $460,622.85 'Unrealized Gain/Loss represents data from the time of account inception to the current statement period. Income Other Income & Receipts 149,999.49 $149,999.49 Income & Distributions 440,454.94 170,167.40 $610,622.34 Change in Investment Value EFTA01546777 1,693,864.96 1,573,865.57 $3,267,730.53 Realized Gain/Loss Short-term 315,130.38 1,902.00 $317,032.38 $148,500.00 Long-term 148,500.00 Ending Market Value with Accruals 71,112,935.51 23,968,372.41 33.49 $95,081,341.41 Unrealized Gain/Loss, 2,414,834.88 2,031,571.98 $4,446,406.86 CONTINUED Consolidated Statement Page 3 EFTA01546778 JPMorgan Chase Bank, N.A. 270 Park Avenue, New York, NY 10017-2014 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Asset Account J.P. Morgan Team Justin Nelson Paul Barrett Janet Young Gina Magliocco Jason Grosse Online access 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). 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 10 12 21 Account Page 1 of 33 Consolidated Statement Page 4 EFTA01546779 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Account Summary Asset Allocation Equity Alternative Assets Cash & Fixed Income Market Value Accruals Market Value with Accruals Beginning Market Value 28,255,148.39 4,401.97 40,786,097.54 $69,045,647.90 621,199.16 $69,666,847.06 Ending Market Value 32,270,100.98 1,987,600.00 35,945,348.23 $70,203,049.21 909,886.30 $71,112,935.51 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 $0.00 72,023.13 1,085,378.18 $70,203,049.21 909,886.30 $71,112,935.51 Period Value 69,045,647.90 Change In Value 4,014,952.59 1,983,198.03 EFTA01546780 (4,840,749.31) $1,157,401.31 288,687.14 $1,446,088.45 Year-to-Date Value 0.00 15,362,706.02 (430,430.11) 53,240,793.69 (104,340.29) $68,068,729.31 440,454.94 1,693,864.96 $70,203,049.21 909,886.30 $71,112,935.51 Equity Estimated 1,565,870.70 Current Annual Income Allocation 45% 3% 2,007,475.69 $3,573,346.39 52% 100% Alternative Assets Cash & Fixed Income Asset Allocation Account Page 2 of 33 Consolidated Statement Page 5 EFTA01546781 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Account Summary Income Summary Domestic Dividends/Distributions Foreign Dividends Currency Gain/Loss Interest Income Accrued Interest Current Year Income CONTINUED Current Period Value 5,120.00 18,590.03 49,120.86 (807.76) $72,023.13 Year-to-Date Value 464,532.50 54,375.00 (548,944.51) 592,435.08 (121,943.13) $440,454.94 Unrealized Gain/Loss ST Realized Gain/Loss LT Realized Gain/Loss Realized Gain/Loss Current Period Value 47,976.64 $47,976.64 Year-to-Date Value 315,130.38 148,500.00 $463,630.38 To-Date Value $2,414,834.88 Cost Summary Equity Cash & Fixed Income Total 34,811,452.47 Cost 30,728,543.76 $65,539,996.23 Account Page 3 of 33 Consolidated Statement Page 6 EFTA01546782 EFTA01546783 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Equity Summary Asset Categories US Large Cap Equity US Small/Mid Cap Equity Non-US Equity European Large Cap Equity Emerging Market Equity Preferred Stocks Concentrated & Other Equity Total Value Market Value/Cost Market Value Cost Unrealized Gain/Loss Estimated Annual Income Accrued Dividends Yield Beginning Market Value 1,708,811.15 836,500.00 2,875,200.00 1,905,600.00 876,732.66 5,357,876.00 14,694,428.58 $28,255,148.39 Ending Market Value 4,011,215.61 909,500.00 3,851,991.91 1,992,600.00 878,712.86 5,599,378.28 15,026,702.32 $32,270,100.98 Current Period Value 32,270,100.98 30,728,543.76 1,373,414.90 1,565,870.70 222,238.25 4.83% Equity as a percentage of your portfolio - 45 % Change In Value 2,302,404.46 EFTA01546784 73,000.00 976,791.91 87,000.00 1,980.20 241,502.28 332,273.74 $4,014,952 59 Current Allocation 6% 1% 5% 3% 1% 8% 21% 45% European Large Cap Equity US Small/Mid Cap Equity Emerging Market Equity Non-US Equity Concentrated & Other Equity Asset Categories US Large Cap Equity Preferred Stocks Account Page 4 of 33 Consolidated Statement Page 7 EFTA01546785 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Note: P * * indicates position adjusted for Pending Trade Activity. Unrealized Gain/Loss is shown as "N/A" in cases where we do not have appropriate cost information for all tax lots comprising the position. Please contact your J.P. Morgan team for additional information. Equity Detail Price US Large Cap Equity ARIAD PHARMACEUTICALS INC BIOGEN IDEC INC FACEBOOK INC-A GENERAL ELECTRIC CO 04033A-10-0 ARIA 218.13 09062X-10-3 BIIB 36.80 30303M-10-2 FB 24.37 369604-10-3 GE JPM VALUE ADVANTAGE FD - INSTL FUND 1400 4812A2-58-7 JVAI X Total US Large Cap Equity $4,011,215.61 $3,702,561.43 $308,654.18 $37,472.12 0.93% 25.95 78,709.170 2,042,502.96 2,000,000.00 42,502.96 19,992.12 0.98% 23,000.000 560,510.00 496,109.08 64,400.92 17,480.00 3.12% 17,500.000 644,000.00 665,000.00 (21,000.00) 2,095.000 EFTA01546786 456,982.35 250,454.95 206,527.40 18.58 16,535.000 307,220.30 290,997.40 16,222.90 Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. Accrued Div. Yield US Small/Mid Cap Equity DEUTSCHE BK AG LDN BRH 8.44 DBL LONG ETN38 25154H-55-8 DAG P JONES ENERGY INC - A 48019R-10-8 JONE 14.06 0.00 Account Page 5 of 33 Consolidated Statement Page 8 50,000.000 422,000.00 352,529.00 69,471.00 EFTA01546787 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Price US Small/Mid Cap Equity SANGAMO BIOSCIENCES INC Total US Small/Mid Cap Equity 800677-10-6 SGMO $909,500.00 $774,743.00 $134,757.00 $0.00 0.00% 9.75 50,000.000 487,500.00 422,214.00 65,286.00 Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. Accrued Div. Yield P P P P P P P Non-US Equity ACCOR SA 37.66 ISIN FR0000120404 SEDOL 5852842 F00189-90-6 UR AUTOGRILL SA ISIN IT000113734 SEDOL 5256206 T8347V-91-5 UR BNP PARIBAS ISIN FR0000131104 SEDOL 7309681 F07875-90-3 UR CARREFOUR SUPERMARCHE ISIN FR0000120172 SEDOL 5641567 F13923-90-3 UR COMPAGNIE DE SAINT-GOBAIN ISIN FR0000125007 SEDOL 7380482 F80343-95-1 UR 3C DECAUX INTERNATIONAL EFTA01546788 ISIN FR0000077919 SEDOL 7136663 F5333N-91-0 UR RENAULT SA ISIN FR0000131906/SEDOL 4712798 759994-90-8 UR Account Page 6 of 33 Consolidated Statement Page 9 78.57 2,000.000 157,137.77 157,763.32 (625.55) 32.03 5,000.000 160,138.71 160,785.93 (647.22) 46.28 3,500.000 161,964.50 162,307.25 (342.75) 30.63 5,500.000 168,484.24 170,089.99 (1,605.75) 64.58 2,500.000 161,449.96 161,893.57 (443.61) 15.24 10,900.000 166,156.52 166,999.72 (843.20) 4,500.000 169,460.21 170,037.29 (577.08) EFTA01546789 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Price Non-US Equity ROYAL BANK SCOTLAND GROUP PLC ADR NON-CUMULATIVE 780097-71-3 RBS PT NA /P-2 Total Non-US Equity $3,851,991.91 $4,074,277.07 ($222,285.16) $217,560.00 5.65% 22.56 120,000.000 2,707,200.00 2,924,400.00 (217,200.00) 217,560.00 8.04% Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. Accrued Div. Yield European Large Cap Equity HSBC CONT BUFF EQ SX5E 08/29/14 99.63 80% EKO BARRIER- 4%CPN 17% CAP INITIAL LEVEL-05/24/13 SX5E:2764.29 40432X-FP-1 Emerging Market Equity P GRANA Y MONTERO SA - ADR 3PM LATIN AMERICA FD - SEL 38500P-20-8 GRAM 17.75 FUND 3815 4812A3-47-8 JLTS X Total Emerging Market Equity $878,712.86 $1,000,000.00 ($121,287.14) $841.58 0.10% 49,504.950 EFTA01546790 878,712.86 1,000,000.00 (121,287.14) 841.58 0.10% 20.90 0.00 2,000,000.000 1,992,600.00 2,000,000.00 (7,400.00) Account Page 7 of 33 Consolidated Statement Page 10 EFTA01546791 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Price Preferred Stocks ALLY FINANCIAL INC 8 1/2% PFD 02005N-30-8 ALLYPB NA /CAA GMAC CAPITAL TRUST I PFD STK 8 1/8% 361860-20-8 ALLYPA P VOLKSWAGEN AG PFD ISIN DE0007664039 SEDOL 5497168 928662-92-3 UR Total Preferred Stocks $5,599,378.28 $4,832,034.69 $767,343.59 $430,872.00 $67,256.25 Concentrated & Other Equity BANK OF AMERICA CORP 8 1/8% PFD STK DEC 29 2049 DTD 04/30/2008 060505-DT-8 BB+ /B1 CLIFFS NATURAL RESOURCES CV PFD 7% 18683K-40-8 CLV GENERAL ELEC CAP CORP 7.125% DEC 15 2049 DTD 06/12/2012 369622-SN-6 AA- /BAA GENERAL MOTORS CO CV PFD B 37045V-20-9 GM PB 49.94 71,000.000 3,545,740.00 3,585,969.22 (40,229.22) 168,625.00 4.76% 112.81 2,000,000.000 2,256,120.00 2,122,916.67 133,203.33 142,500.00 18,208.00 6.23% 18.90 6,000.000 EFTA01546792 113,400.00 150,000.00 (36,600.00) 10,500.00 2,625.00 9.26% 7.70% 237.22 700.000 166,054.28 167,018.58 (964.30) 26.55 80,000.000 2,124,000.00 1,882,773.60 241,226.40 Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. Accrued Div. Yield 26.14 126,600.000 3,309,324.00 2,782,242.51 527,081.49 268,392.00 67,256.25 162,480.00 8.11% 7.65% 112.78 2,000,000.000 2,255,500.00 2,081,180.56 174,319.44 162,500.00 34,304.00 7.14% Account Page 8 of 33 Consolidated Statement Page 11 EFTA01546793 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Price Concentrated & Other Equity JPMORGAN CHASE & CO 7.9% PFD STK APR 30 2049 DTD 04/23/2008 46625H-HA-1 BBB /BA1 LONG TOTAL RETURN SWAP 1,999,999.368942 USD NOTIONAL KOSPTREQ INDEX MAT MAR 20 2014 DEAL 30140386 N/O Client SWPBDR-UH-6 MS MARKET PLUS MRK 08/20/14 80% EKO BARRIER- 3.55%CPN ,UNCAPPED INITIAL LEVEL-02/14/13 MRK:41.19 61761J-DA-4 Total Concentrated & Other Equity $15,026,702.32 $14,344,927.57 $513,632.43 $879,125.00 $154,982.00 5.81% 113.42 1,000,000.000 1,134,150.00 1,000,000.00 134,150.00 1.00 888,972.000 168,142.32 N/A ** N/A Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. Accrued Div. Yield 111.07 5,000,000.000 5,553,650.00 5,404,861.12 148,788.88 395,000.00 EFTA01546794 99,845.00 7.05% Account Page 9 of 33 Consolidated Statement Page 12 EFTA01546795 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Alternative Assets Summary Beginning Asset Categories Hard Assets Note: Estimated Value 4,401.97 P indicates position adjusted for Pending Trade Activity. Alternative Assets Detail Quantity/Original Commitment Amount Real Estate & Infrastructure P COUSINS PROPERTIES INC 222795-10-6 CUZ Amounts shown above under "Estimated Value" for private equity funds are estimates based on the latest fund values received from each underlying fund, which value may be as of a date (underlying fund value date) prior to the period covered by this statement. The values provided by the underlying fund have been adjusted for any cash flows between your account and such fund that have occurred subsequent to the underlying fund value date to derive the "Estimated Value". Therefore, such "Estimated Value" may not reflect the value of your interest shown on any fund's actual books and records as of the date of this statement. For additional information, please contact your J.P. Morgan representative. For private equity funds, Estimated Values are based on estimates provided by the underlying funds that are generally presented on a US GAAP basis, which records investments at fair value, or "marked-to-market". Most of these underlying funds also present their audited financial statements on a US GAAP basis (i.e., "marked-to- market"). However, some of these underlying funds present their audited financial statements using the Income Tax Basis of Accounting, which records investments "at cost" based on the accrual basis of accounting for Federal income taxes. Where the underlying fund provides periodic estimates on a "marked-to-market" basis but reflects investments "at cost" in its audited financial statements, the marked-to-market Estimated Value shown herein for a private equity fund may be materially different from the value reflected on such fund's audited financial statements (which are also based on the audited financial statements of the underlying fund). Cost/Net Capital Called Since Inception Net Distributions Since Inception Estimated Value Est. Annual Inc. EFTA01546796 Accrued Div. Yield Ending Estimated Value 1,987,600.00 Change In Value 1,983,198.03 Current Allocation 3% 0.80 1.76% Account Page 10 of 33 Consolidated Statement Page 13 EFTA01546797 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 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 99.38 2,000,000.000 1,987,600.00 2,000,000.00 Quantity Estimated Value Cost Account Page 11 of 33 Consolidated Statement Page 14 EFTA01546798 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Cash & Fixed Income Summary Beginning Asset Categories Cash Non-USD Cash US Fixed Income Non-US Fixed Income Complementary Structured Strategies Foreign Exchange Contracts Total Value Market Value/Cost Market Value Cost Unrealized Gain/Loss Estimated Annual Income Accrued Interest Yield Market Value 10,053,797.14 1,088,478.72 22,597,857.06 2,898,781.00 3,986,490.79 160,692.83 $40,786,097.54 Ending Market Value 4,452,801.94 (204,969.06) 24,368,521.90 3,089,156.20 4,159,761.47 80,075.78 $35,945,348.23 Current Period Value 35,945,348.23 34,811,452.47 1,053,819.98 2,007,475.69 687,648.05 6.01% Complementary Structured Strategies Change In Value (5,600,995.20) (1,293,447.78) 1,770,664.84 EFTA01546799 190,375.20 173,270.68 (80,617.05) ($4,840,749.31 ) Current Allocation 6% 35% 4% 6% 1% 52% Cash Asset Categories Non-US Fixed Income Foreign Exchange Contracts US Fixed Income Cash & Fixed Income as a percentage of your portfolio 52 % Account Page 12 of 33 Consolidated Statement Page 15 EFTA01546800 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 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 6,814,144.35 3,904,450.00 8,669,260.00 16,477,418.10 $35,865,272.45 % of Bond Portfolio 18% 10% 23% 49% 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. Cash & Fixed Income Cash NON USD Cash Corporate Bonds International Bonds Mortgage and Asset Backed Bonds Complementary Structure Total Value Market Value 4,452,801.94 (204,969.06) 11,881,510.00 8,258,366.20 7,317,801.90 4,159,761.47 $35,865,272.45 % of Bond Portfolio 12% 35% 22% EFTA01546801 20% 11% 100% Account Page 13 of 33 Consolidated Statement Page 16 EFTA01546802 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Cash & Fixed Income Summary NET FX CONTRACTS EXPOSURE SUMMARY Value in Currency CANADIAN DOLLAR SWISS FRANC EURO CURRENCY JAPANESE YEN (5,000,000.00) 0.01 (95,681.36) 498,300,000.00 Note: P indicates position adjusted for Pending Trade Activity. Cash & Fixed Income Detail Price Cash US DOLLAR COST OF PENDING PURCHASES PROCEEDS FROM PENDING SALES Total Cash 1.00 1.00 1.00 4,347,187.84 (247,910.00) 353,524.10 4,347,187.84 (247,910.00) 353,524.10 $4,452,801.94 4,347,187.84 (247,910.00) 353,524.10 $4,452,801.94 $0.00 $434.71 $65.73 0.01% 434.71 65.73 0.01% 1 Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss EFTA01546803 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. Account Page 14 of 33 Consolidated Statement Page 17 EFTA01546804 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Price Non-USD Cash CANADIAN DOLLAR P EURO PRINCIPAL CURRENCY Total Non-USD Cash Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield 0.97 1.33 0.01 0.01 (154,361.73) (204,969.07) ($204,969.06) 0.01 (204,969.23) ($204,969.22) 0.16 $0.16 $0.00 0.00% US Fixed Income HEADWATERS INC 106.00 7.625 04/01/2019 DTD 03/11/2011 42210P-AQ-5 B+ /B2 EARTHLINK INC 8 7/8% MAY 15 2019 DTD 05/17/2011 270321-AC-6 CCC /B3 KINDRED HEALTHCARE INC 8 1/4% JUN 01 2019 DTD 06/01/2011 494580-AB-9 NR /B3 SERVICEMASTER COMPANY 8% FEB 15 2020 DTD 02/13/2012 81760N-AN-9 B- /CAA LLOYDS TSB BANK PLC MTN 9 7/8% DEC 16 2021 DTD 12/16/2011 EFTA01546805 HELD BY EUROCLEAR ISIN XS0717735822 SEDOL B7FQXT1 G4715J-9D-3 BBB /BA1 117.50 1,500,000.00 1,762,485.00 1,627,500.00 134,985.00 148,125.00 92,577.00 7.03% 97.75 2,500,000.00 2,443,750.00 2,665,625.00 (221,875.00) 200,000.00 92,220.00 8.45% 105.25 2,000,000.00 2,105,000.00 1,966,250.00 138,750.00 165,000.00 27,500.00 7.13% 98.91 1,000,000.00 989,130.00 1,033,500.00 (44,370.00) 1,000,000.00 1,060,000.00 1,035,000.00 25,000.00 76,250.00 25,416.00 88,750.00 18,736.00 6.35% 9.12% Account Page 15 of 33 Consolidated Statement Page 18 EFTA01546806 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Price US Fixed Income BARCLAYS BANK PLC 7.750% 04/10/2023 DTD 04/10/2013 06739F-HK-0 BB+ /NR HOMEBANC MORTGAGE TRUST 2004-1 CL 1M1 VAR RT 08/25/2029 DTD 07/30/2004 43739E-AC-1 CCC /CA SEQUOIA MORTGAGE TRUST 11 CL B1 VAR RT 12/20/2032 DTD 10/30/2002 81744A-AB-4 CCC /CAA COUNTRYWIDE HOME LOANS 2003-1 CL B1 5.750% 03/25/2033 DTD 01/01/2003 12669D-YS-1 STRUCTURED ASSET SECURITIES CO 2003-10 CL B2 6.000% 04/25/2033 DTD 03/28/2003 86359A-QW-6 CCC / COUNTRYWIDE HOME LOANS 2003-26 CL B1 5.33684% 08/25/2033 DTD 06/01/2003 12669E-RR-9 IMPAC CMB TRUST 2005-2 CL 1M2 VAR RT 04/25/2035 DTD 03/03/2005 45254N-NC-7 CC /CA CHASE MORTGAGE FINANCE CORPORATION REMIC 2007-A1 CL 2A4 2.99199% 02/25/2037 DTD 02/01/2007 161630-AK-4 CCC /CA Account Page 16 of 33 Consolidated Statement Page 19 95.07 1,937,113.84 1,841,536.64 1,714,345.75 127,190.89 57,958.25 4,829.22 3.21% 60.40 71.86 1,377,374.58 1,552,704.83 831,892.92 1,115,835.80 1,060,578.42 EFTA01546807 1,083,011.62 (228,685.50) 32,824.18 7,352.81 611.55 14,409.10 43.47 6.48% 7.14% 94.12 961,788.93 905,197.27 961,788.93 (56,591.66) 57,707.33 4,808.94 7.63% 94.52 1,334,646.92 1,261,561.65 1,274,587.81 (13,026.16) 76,742.19 6,394.29 6.01% 74.98 1,032,091.29 773,862.05 761,167.33 12,694.72 17,062.53 93.92 5.57% 60.50 971,761.27 587,915.57 546,615.72 41,299.85 Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield 102.97 300,000.00 308,895.00 300,000.00 EFTA01546808 8,895.00 23,250.00 7,168.50 10,725.32 17.49 7.32% 4.19% EFTA01546809 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Price US Fixed Income JPMORGAN CHASE & CO VAR RT 07/24/2013 DTD 07/29/2013 48126H-AA-8 NR /NR 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 GENERAL ELEC CAP CORP 5.250% 12/31/2049 DTD 05/29/2013 369622-ST-3 AA- /BAA SOUTHERN CAL EDISON 6 1/4% DEC 31 2049 DTD 01/17/2012 842400-FU-2 BBB /BAA Total US Fixed Income 107.28 3,000,000.00 3,218,430.00 3,016,649.17 201,780.83 95.09 1,400,000.00 1,331,190.00 1,400,000.00 (68,810.00) 73,500.00 11,841.20 187,500.00 94,269.00 $24,368,521.90 $24,444,119.75 ($75,597.85) $1,489,332.53 $439,692.58 Non-US Fixed Income PETROLEOS DE VENEZUELA S 8 1/2% NOV 02 2017 DTD 10/29/2010 HELD BY EUROCLEAR ISIN USP7807HAK16 SEDOL BSSCOL3 716550-9A-8 B /NA 5.57% 5.77% 103.26 3,000,000.00 3,097,830.00 EFTA01546810 3,247,500.00 (149,670.00) Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield 97.87 750,000.00 734,010.00 750,000.00 (15,990.00) 45,000.00 22,500.00 240,000.00 30,666.00 6.15% 7.73% 6.61% 92.44 2,500,000.00 2,311,000.00 2,262,750.00 48,250.00 212,500.00 52,532.50 10.75% Account Page 17 of 33 Consolidated Statement Page 20 EFTA01546811 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Price Non-US Fixed Income REPUBLIC OF ARGENTINA -ARS NOTES DEC 15 2035 DTD 11/01/2005 HELD BY EUROCLEAR ISIN ARARGEO3E147 SEDOL BOS5SP7 042993-9R-8 RS REPUBLIC OF ARGENTINA NOTES DEC 15 2035 DTD 11/01/2005 HELD BY EUROCLEAR ISIN US040114GM64 SEDOL B2PDMW3 042993-9S-6 Total Non-US Fixed Income $3,089,156.20 $3,619,500.00 ($530,343.80) $517,708.45 $244,015.24 Complementary Structured Strategies JPY CALL CAD PUT FX EUROPEAN STYLE OPTION OCT 08, 2013 @ 76.9 AT EXP KI @ 69.65 XJPYCA-TZ-Z AD JPY CALL USD PUT FX EUROPEAN STYLE OPTION SEP 10, 2013 @ 97.25 AT EXP KI @94.75 XJPYCA-UI-Z 0.01 (486,250,000.00 ) (47,357.48) (85,000.00) 37,642.52 17.84% 8.08 7,500,000.00 605,625.00 1,038,750.00 (433,125.00) 237,652.50 149,100.00 38.92% Quantity Value Adjusted Cost Original Cost EFTA01546812 Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield 1.73 10,000,000.00 172,531.20 318,000.00 (145,468.80) 67,555.95 42,382.74 38.80% (769,000,000.00 ) (37.80) (336,952.82) 336,915.02 Account Page 18 of 33 Consolidated Statement Page 21 EFTA01546813 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Price Complementary Structured Strategies JPY PUT CAD CALL FX EUROPEAN STYLE OPTION OCT 08, 2013 @ 80.9 XJPYPB-EX-Z AD JPY PUT USD CALL FX EUROPEAN STYLE OPTION SEP 10, 2013 @ 100. XJPYPB-FJ-Z JPY PUT USD CALL FX EUROPEAN STYLE OPTION SEP 10, 2013 @ 105. XJPYPB-FK-Z GS MXN STEP UP NOTE 11/22/13 LNKD TO MXN VS USD 85%BARRIER- 5% ATM CPN-22.9%MXRTRN 11/08/12, INITIAL STRIKE: 13.11925 38141G-HY-3 3PM 3YR NC CLN TO MTOR 04/16/15 INITIAL RATE 6.20% CPN DD 04/16/12 4662A0-4Q-1 Total Complementary Structured Strategies $4,159,761.47 $2,500,000.00 $1,659,761.47 $0.00 $3,874.50 0.00% 106.23 1,500,000.00 1,593,450.00 1,500,000.00 93,450.00 3,874.50 108.19 1,000,000.00 1,081,920.00 1,000,000.00 81,920.00 (500,000,000.00 ) (4,424.35) (36,500.00) 32,075.65 0.01 500,000,000.00 45,477.66 121,500.00 EFTA01546814 (76,022.34) Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield 0.18 809,000,000.00 1,490,733.44 336,952.82 1,153,780.62 Account Page 19 of 33 Consolidated Statement Page 22 EFTA01546815 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Market Value Receivable Trade Date Foreign Exchange Contracts CANADIAN DOLLAR CANADIAN DOLLAR SWISS FRANC SWISS FRANC JAPANESE YEN JAPANESE YEN EURO CURRENCY EURO CURRENCY Total Foreign Exchange Contracts Jun. 10 13 Aug. 28 13 May. 23 13 Aug. 28 13 May. 6 13 Aug. 8 13 May. 23 13 Aug. 8 13 CAD JPY CAD JPY CHF EUR CHF EUR 2,500,000.00 (242,025,000.00 ) (7,500,000.00) 740,325,000.00 6,138,000.00 (5,000,000.00) (6,137,999.99) 4,904,318.64 96.810000 98.710000 1.227600 1.251550 95.586170 95.586170 1.233722 1.233722 2,429,990.42 2,461,102.60 7,528,213.15 7,289,971.26 EFTA01546816 6,606,483.37 6,639,429.91 6,512,375.97 6,606,483.36 $23,077,062.91 $22,996,987.13 (31,112.18) 238,241.89 (32,946.54) (94,107.39) $80,075.78 Currency Settlement Date Counter Currency Amount Counter Amount Contract Rate Current Market Forward Rate Market Value Payable Unrealized Gain/Loss Account Page 20 of 33 Consolidated Statement Page 23 EFTA01546817 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 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 2,947,938.08 (8,495,330.70) ($5,547,392.62) $4,347,187.84 * 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 28,746,296.05 (39,669,973.92) ($10,923,677.87) -$0.00 $53,433.10 Period Value 9,841,147.36 53,433.10 Year-To-Date Value* -964,951.34 14,227,338.26 6,117,215.66 $21,309,505.26 (430,430.11) (5,608,209.44) ($6,038,639.55) Current Cost Adjustments Cost Adjustments Total Cost Adjustments EFTA01546818 Period Value 16,666.67 $16,666.67 Year-To-Date Value* 6,036,596.14 $6,036,596.14 Current Securities Transferred In/Out Securities Transferred In Securities Transferred Out Period Value Year-To-Date Value* 52,196,971.85 (104,340.29) Account Page 21 of 33 Consolidated Statement Page 24 EFTA01546819 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Portfolio Activity Detail - U S Dollar INFLOWS & OUTFLOWS Type Settle Date Selection Method Income 7/1 7/15 7/15 Interest Income Div Domest Accrued Int Paid Description DEPOSIT SWEEP INTEREST FOR 06/01/13 - 06/30/13 @ .01% RATE ON AVG COLLECTED BALANCE OF $9,233,537.26 AS OF 07/01/13 THERMO FISHER SCIENTIFIC INC @ 0.15 PER SHARE (ID: 883556-10-2) IMPAC CMB TRUST 2005-2 CL 1M2 VAR RT 04/25/2035 DTD 03/03/2005 @ 69.75 JP MORGAN SECURITIES LLC (BIDL) TRADE DATE 07/10/13 FACE VALUE 10,000,000.00 (ID: 45254N-NC-7) 7/16 7/22 7/25 7/25 7/25 7/25 Corporate Interest Corporate Interest Corporate Interest Corporate Interest Corporate Interest Corporate Interest JPM 3YR NC CLN TO MTOR 04/16/15 INITIAL RATE 6.20% CPN DD 04/16/12 (ID: 4662A0-4Q-1) SEQUOIA MORTGAGE TRUST 11 CL 81 VAR RT 12/20/2032 DTD 10/30/2002 (ID: 81744A-AB-4) COUNTRYWIDE HOME LOANS 2003-1 CL 81 5.750% 03/25/2033 DTD 01/01/2003 (ID: 12669D-YS-1) COUNTRYWIDE HOME LOANS 2003-26 CL B1 5.33684% 08/25/2033 DTD 06/01/2003 (ID: 12669E-RR-9) CHASE MORTGAGE FINANCE CORPORATION REMIC 2007-A1 CL 2A4 2.99199% 02/25/2037 DTD 02/01/2007 (ID: 161630-AK-4) HOMEBANC MORTGAGE TRUST 2004-1 CL 1M1 VAR RT 08/25/2029 DTD 07/30/2004 (ID: 43739E-AC-1) 973,410.924 0.001 886.62 EFTA01546820 1,500,000.000 1,036,814.057 1,372,306.980 1,407,472.207 1,976,894.960 0.015 0.001 0.005 0.004 0.002 23,186.30 1,422.68 6,619.85 6,271.48 4,479.26 5,000.000 1,566,775.200 0.00 0.15 0.001 750.00 (807.76) Quantity Cost Per Unit Amount Amount 74.84 Account Page 22 of 33 Consolidated Statement Page 25 EFTA01546821 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Type Settle Date Selection Method Income 7/25 7/25 7/25 Corporate Interest Div Domest Corporate Interest Total Income TRADE ACTIVITY Note: Trade Date Settle Date 6/26 7/1 6/27 7/2 6/27 7/2 6/26 7/3 Description STRUCTURED ASSET SECURITIES CO 2003-10 CL B2 6.000% 04/25/2033 DTD 03/28/2003 (ID: 86359A-QW-6) GENERAL ELECTRIC CO @ 0.19 PER SHARE (ID: 369604-10-3) IMPAC CMB TRUST 2005-2 CL 1M2 VAR RT 04/25/2035 DTD 03/03/2005 (ID: 45254N-NC-7) 23,000.000 1,566,775.200 0.19 0.001 4,370.00 1,211.64 $53,433.10 Quantity Cost 993,637.820 Per Unit Amount 0.005 Amount 4,968.19 S indicates Short Term Realized Gain/Loss * Settled transaction was initiated in prior statement period and settled in current statement period Type EFTA01546822 Selection Method Description Settled Sales/Maturities/Redemptions Sale High Cost Sale High Cost Sale High Cost Sale High Cost LUXOFT HOLDING INC @ 18.55 9,275.00 BROKERAGE 20.00 TAX &/OR SEC .17 J.P. MORGAN SECURITIES LLC (ID: G57279-10-4) CDW CORP/DE @ 17.64 52,920.00 BROKERAGE 120.00 TAX &/OR SEC .93 J.P. MORGAN SECURITIES LLC (ID: 12514G-10-8) THERMO FISHER SCIENTIFIC INC @ 85.60 214,000.00 BROKERAGE 100.00 TAX &/OR SEC 3.73 J.P. MORGAN SECURITIES LLC (ID: 883556-10-2) NANOSTRING TECHNOLOGIES INC @ 9.500833 57,005.00 BROKERAGE 240.00 TAX &/OR SEC 1.00 J.P. MORGAN SECURITIES LLC (ID: 63009R-10-9) Account Page 23 of 33 Consolidated Statement Page 26 (6,000.000) 9.461 56,764.00 (60,000.00) (3,236.00) S* (2,500.000) 85.559 213,896.27 (213,750.00) 146.27 S* (3,000.000) 17.60 52,799.07 (51,000.00) 1,799.07 S* Quantity (500.000) Per Unit Amount 18.51 Proceeds 9,254.83 Cost (8,500.00) Realized Gain/Loss 754.83 S* EFTA01546823 EFTA01546824 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Trade Date Settle Date 6/27 7/3 7/9 7/12 7/9 7/15 7/10 7/15 7/15 7/15 7/15 7/15 7/12 7/17 7/16 7/19 7/16 7/19 Type Selection Method Description Settled Sales/Maturities/Redemptions Sale High Cost Sale High Cost Sale High Cost Sale High Cost Expired Option High Cost Expired Option High Cost Sale High Cost Sale High Cost Sale High Cost HD SUPPLY HOLDINGS INC @ 18.00 252,000.00 BROKERAGE 560.00 TAX &/OR SEC 4.39 J.P. MORGAN SECURITIES LLC (ID: 40416M-10-5) HOME PROPERTIES INC @ 63.50 63,500.00 BROKERAGE 40.00 TAX &/OR SEC 1.11 J.P. MORGAN SECURITIES LLC (ID: 437306-10-3) AMERIGAS PARTNERS L P UNIT LIMITED PARTNERSHIP INT @ 46.90 58,625.00 BROKERAGE 50.00 TAX &/OR EFTA01546825 SEC 1.03 J.P. MORGAN SECURITIES LLC (ID: 030975-10-6) AMERIGAS PARTNERS L P UNIT LIMITED PARTNERSHIP INT @ 46.90 117,250.00 BROKERAGE 100.00 TAX &/OR SEC 2.05 J.P. MORGAN SECURITIES LLC (ID: 030975-10-6) WTI CALL OPTION USD PUT OPTION STRIKE 111.00 EXPIRING 07/11/2013 100,000 BARRELS EXPIRATION OF PURCHASED OTC CALL (ID: OTCBDC-PA-H) WTI PUT OPTION USD CALL OPTION STRIKE 87.50 EXPIRING 07/11/2013 100,000 BARRELS EXPIRATION OF WRITTEN OTC PUT (ID: OTCBDP-JZ-Y) MERRIMACK PHARMACEUTICALS INC @ 5.01 10,020.00 BROKERAGE 80.00 TAX &/OR SEC .18 J.P. MORGAN SECURITIES LLC (ID: 590328-10-0) HEALTHCARE REALTY TRUST @ 26.75 53,500.00 BROKERAGE 80.00 TAX &/OR SEC .94 J.P. MORGAN SECURITIES LLC (ID: 421946-10-4) PENNANTPARK FLOATING RATE CA COM @ 14.00 56,000.00 BROKERAGE 160.00 TAX &/OR SEC .98 J.P. MORGAN SECURITIES LLC (ID: 70806A-10-6) Account Page 24 of 33 Consolidated Statement Page 27 (4,000.000) 13.96 55,839.02 (56,800.00) (960.98) S (2,000.000) 26.71 53,419.06 (52,800.00) 619.06 S (2,000.000) 4.97 9,939.82 (10,000.00) (60.18) S 100.000 86,000.00 86,000.00 S (100.000) (86,000.00) (86,000.00) S (2,500.000) 46.859 117,147.95 (119,000.00) (1,852.05) S (1,250.000) 46.859 EFTA01546826 58,573.97 (59,500.00) (926.03) S (1,000.000) 63.459 63,458.89 (63,000.00) 458.89 S Quantity (14,000.000) Per Unit Amount 17.96 Proceeds 251,435.61 Cost (252,000.00) Realized Gain/Loss (564.39) S* EFTA01546827 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Trade Date Settle Date Type Selection Method Description Settled Sales/Maturities/Redemptions 7/22 7/22 7/16 7/22 7/17 7/22 7/17 7/22 7/19 7/24 7/19 7/24 7/25 7/25 7/25 7/25 7/25 7/25 Sale High Cost Sale High Cost Sale High Cost Sale High Cost Sale High Cost Principal Payment SEQUOIA MORTGAGE TRUST 11 CL 81 VAR RT Pro Rata Quantity (4,722.770) 12/20/2032 DTD 10/30/2002 PAYMENT A/C PRINCIPAL (ID: 81744A-AB-4) WELLS FARGO & COMPANY PFD 5.85% @ 25.01 875,350.00 BROKERAGE 1,400.00 TAX &/OR SEC 15.24 J.P. MORGAN SECURITIES LLC (ID: 949746-55-6) EQT MIDSTREAM PARTNERS LP @ 44.50 44,500.00 BROKERAGE 40.00 TAX &/OR SEC .78 J.P. MORGAN SECURITIES LLC (ID: 268858-10-0) REALOGY HOLDINGS CORP @ 51.16 51,160.00 BROKERAGE 40.00 TAX &/OR SEC .90 J.P. MORGAN SECURITIES LLC (ID: 75605Y-10-6) EFTA01546828 DIAMOND RESORTS INTERNATIONA @ 14.77111 13,294.00 BROKERAGE 36.00 TAX &/OR SEC .24 J.P. MORGAN SECURITIES LLC (ID: 25272T-10-4) SYNOVUS FINANCIAL CORP @ 3.24 87,480.00 BROKERAGE 1,080.00 TAX &/OR SEC 1.53 J.P. MORGAN SECURITIES LLC (ID: 87161C-10-5) Principal Payment COUNTRYWIDE HOME LOANS 2003-1 CL B1 5.750% Pro Rata (37,660.060) 03/25/2033 DTD 01/01/2003 PAYMENT A/C PRINCIPAL (ID: 12669D-YS-1) Principal Payment COUNTRYWIDE HOME LOANS 2003-26 CL B1 5.33684% Pro Rata 08/25/2033 DTD 06/01/2003 PAYMENT A/C PRINCIPAL (ID: 12669E-RR-9) Principal Payment CHASE MORTGAGE FINANCE CORPORATION REMIC Pro Rata 2007-A1 CL 2A4 2.99199% 02/25/2037 DTD 02/01/2007 PAYMENT A/C PRINCIPAL (ID: 161630-AK-4) Account Page 25 of 33 Consolidated Statement Page 28 (39,781.120) 100.00 39,781.12 (35,206.29) 4,574.83 S (30,097.630) 100.00 30,097.63 (23,175.17) 6,922.46 S 100.00 37,660.06 (35,965.36) 1,694.70 S (27,000.000) 3.20 86,398.47 (83,430.00) 2,968.47 S (900.000) 14.731 13,257.76 (12,600.00) 657.76 S (1,000.000) 51.119 51,119.10 (48,500.00) 2,619.10 S EFTA01546829 (1,000.000) 44.459 44,459.22 (43,500.00) 959.22 S (35,000.000) 24.97 873,934.76 (875,000.00) (1,065.24) S Per Unit Amount 100.00 Proceeds 4,722.77 Cost (3,483.04) Realized Gain/Loss 1,239.73 S EFTA01546830 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Trade Date Settle Date Type Selection Method Description Settled Sales/Maturities/Redemptions 7/25 7/25 7/25 7/25 7/25 7/25 7/18 7/25 7/23 7/26 7/23 7/26 7/24 7/29 7/25 7/30 7/25 7/31 Principal Payment HOMEBANC MORTGAGE TRUST 2004-1 CL 1M1 VAR RT Pro Rata 08/25/2029 DTD 07/30/2004 PAYMENT A/C PRINCIPAL (ID: 43739E-AC-1) Principal Payment STRUCTURED ASSET SECURITIES CO 2003-10 CL B2 Pro Rata 6.000% 04/25/2033 DTD 03/28/2003 PAYMENT A/C PRINCIPAL (ID: 86359A-QW-6) 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) Sale High Cost Sale High Cost Sale High Cost Sale High Cost Sale High Cost Sale High Cost WHITEWAVE FOODS CO - A @ 18.62625 111,757.50 BROKERAGE 240.00 TAX &/OR SEC 1.95 J.P. MORGAN EFTA01546831 SECURITIES LLC (ID: 966244-10-5) PHILLIPS 66 PARTNERS LP @ 28.98 14,490.00 BROKERAGE 20.00 TAX &/OR SEC .26 J.P. MORGAN SECURITIES LLC (ID: 718549-20-7) SYNOVUS FINANCIAL CORP PFD 7.875% @ 25.47 509,400.00 BROKERAGE 800.00 J.P. MORGAN SECURITIES LLC (ID: 87161C-40-2) AGIOS PHARMACEUTICALS INC @ 29.00 29,000.00 BROKERAGE 40.00 TAX &/OR SEC .51 J.P. MORGAN SECURITIES LLC (ID: 00847X-10-4) WCI COMMUNITIES INC @ 15.122 15,122.00 BROKERAGE 40.00 TAX &/OR SEC .27 J.P. MORGAN SECURITIES LLC (ID: 92923C-80-7) BOISE CASCADE COMPANY @ 26.90 53,800.00 BROKERAGE 80.00 TAX &/OR SEC .94 J.P. MORGAN SECURITIES LLC (ID: 09739D-10-0) (2,000.000) 26.86 53,719.06 (54,000.00) (280.94) S (1,000.000) 15.082 15,081.73 (15,000.00) 81.73 S (1,000.000) 28.959 28,959.49 (18,000.00) 10,959.49 S (20,000.000) 25.43 508,600.00 (500,000.00) 8,600.00 S (500.000) 28.939 14,469.74 (11,500.00) 2,969.74 S (6,000.000) 18.586 111,515.55 (106,500.00) 5,015.55 S (14,070.370) 100.00 14,070.37 (9,814.08) 4,256.29 S EFTA01546832 (31,848.890) 100.00 31,848.89 (31,848.89) Quantity (1,649.650) Per Unit Amount 100.00 Proceeds 1,649.65 Cost (927.93) Realized Gain/Loss 721.72 S Account Page 26 of 33 Consolidated Statement Page 29 EFTA01546833 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Trade Date Settle Date 7/25 7/31 7/25 7/31 Type Selection Method Description Settled Sales/Maturities/Redemptions Sale High Cost Sale High Cost CELLULAR DYNAMICS INTERNATIO @ 10.50 13,125.00 BROKERAGE 50.00 TAX &/OR SEC .23 J.P. MORGAN SECURITIES LLC (ID: 15117V-10-9) TOWER INTERNATIONAL INC @ 20.70 31,050.00 BROKERAGE 60.00 TAX &/OR SEC .55 J.P. MORGAN SECURITIES LLC (ID: 891826-10-9) Total Settled Sales/Maturities/Redemptions $2,947,938.08 ($2,901,675.76) $46,262.32 S (1,500.000) 20.66 30,989.45 (31,875.00) (885.55) S Quantity (1,250.000) Per Unit Amount 10.46 Proceeds 13,074.77 Cost (15,000.00) Realized Gain/Loss (1,925.23) S Trade Date Settle Date Type Description Settled Securities Purchased 6/26 Purchase 7/1 6/26 EFTA01546834 7/2 6/27 7/2 6/26 7/2 7/9 7/10 7/9 7/12 Purchase Purchase Purchase Purchase Purchase LUXOFT HOLDING INC @ 17.00 J.P. MORGAN SECURITIES LLC (ID: G57279-10-4) NANOSTRING TECHNOLOGIES INC @ 10.00 J.P. MORGAN SECURITIES LLC (ID: 63009R-10-9) CDW CORP/DE @ 17.00 J.P. MORGAN SECURITIES LLC (ID: 12514G-10-8) HD SUPPLY HOLDINGS INC @ 18.00 J.P. MORGAN SECURITIES LLC (ID: 40416M-10-5) JPM VALUE ADVANTAGE FD - INSTL FUND 1400 J.P.MORGAN SECURITIES LLC AS AGENT @ 25.41 (ID: 4812A2-58-7) HOME PROPERTIES INC @ 63.00 J.P. MORGAN SECURITIES LLC (ID: 437306-10-3) 1,000.000 63.00 (63,000.00) Quantity 500.000 6,000.000 3,000.000 14,000.000 78,709.170 Per Unit Amount 17.00 10.00 17.00 18.00 25.41 Market Cost (8,500.00) (60,000.00) (51,000.00) (252,000.00) (2,000,000.00) * * EFTA01546835 * Account Page 27 of 33 Consolidated Statement Page 30 EFTA01546836 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Trade Date Settle Date Type Settled Securities Purchased 7/9 Purchase 7/12 7/9 7/12 7/10 7/15 7/12 7/17 7/16 7/19 7/16 7/19 7/16 7/19 7/15 7/22 7/17 7/22 7/19 7/24 7/19 7/24 7/17 7/25 Purchase Purchase Description AMERIGAS PARTNERS L P UNIT LIMITED PARTNERSHIP INT @ 47.60 J.P. MORGAN SECURITIES LLC (ID: 030975-10-6) AMERIGAS PARTNERS L P UNIT LIMITED PARTNERSHIP INT @ 47.60 J.P. MORGAN SECURITIES LLC (ID: 030975-10-6) IMPAC CMB TRUST 2005-2 CL 1M2 VAR RT 04/25/2035 DTD 03/03/2005 @ 69.75 JP MORGAN SECURITIES LLC (BIDL) FACE VALUE 10,000,000.00 (ID: 45254N-NC-7) Purchase Purchase Purchase Purchase Purchase Purchase Purchase EFTA01546837 Purchase Purchase MERRIMACK PHARMACEUTICALS INC @ 5.00 J.P. MORGAN SECURITIES LLC (ID: 590328-10-0) HEALTHCARE REALTY TRUST @ 26.40 J.P. MORGAN SECURITIES LLC (ID: 421946-10-4) PENNANTPARK FLOATING RATE CA COM @ 14.20 J.P. MORGAN SECURITIES LLC (ID: 70806A-10-6) REALOGY HOLDINGS CORP @ 48.50 J.P. MORGAN SECURITIES LLC (ID: 75605Y-10-6) WELLS FARGO & COMPANY PFD 5.85% @ 25.00 J.P. MORGAN SECURITIES LLC (ID: 949746-55-6) EQT MIDSTREAM PARTNERS LP @ 43.50 J.P. MORGAN SECURITIES LLC (ID: 268856-10-0) DIAMOND RESORTS INTERNATIONA @ 14.00 J.P. MORGAN SECURITIES LLC (ID: 25272T-10-4) SYNOVUS FINANCIAL CORP @ 3.09 J.P. MORGAN SECURITIES LLC (ID: 87161C-10-5) WHITEWAVE FOODS CO - A @ 17.75 J.P. MORGAN SECURITIES LLC (ID: 966244-10-5) 2,000.000 2,000.000 4,000.000 1,000.000 35,000.000 1,000.000 900.000 27,000.000 6,000.000 5.00 26.40 14.20 48.50 25.00 43.50 14.00 3.09 17.75 Account Page 28 of 33 (10,000.00) (52,800.00) (56,800.00) (48,500.00) (875,000.00) (43,500.00) (12,600.00) (83,430.00) (106,500.00) Consolidated Statement Page 31 1,566,775.200 69.75 EFTA01546838 (1,092,825.70) 1,250.000 47.60 (59,500.00) Quantity 2,500.000 Per Unit Amount 47.60 Market Cost (119,000.00) EFTA01546839 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Trade Date Settle Date Type Settled Securities Purchased 7/22 Purchase 7/25 7/23 7/26 7/24 7/29 7/22 7/29 7/24 7/30 7/25 7/30 7/25 7/30 7/25 7/30 7/25 7/30 7/24 7/31 Purchase Purchase Purchase Purchase Purchase Purchase Purchase Purchase Description SYNOVUS FINANCIAL CORP PFD 7.875% @ 25.00 J.P. MORGAN SECURITIES LLC (ID: 87161C-40-2) PHILLIPS 66 PARTNERS LP @ 23.00 J.P. MORGAN SECURITIES LLC (ID: 718549-20-7) AGIOS PHARMACEUTICALS INC @ 18.00 J.P. MORGAN SECURITIES LLC (ID: 00847X-10-4) JPMORGAN CHASE & CO VAR RT 07/24/2013 DTD 07/29/2013 @ 100.00 JP MORGAN SECURITIES LLC (BIDL) (ID: 48126H-AA-8) BOISE CASCADE COMPANY @ 27.00 J.P. MORGAN SECURITIES LLC (ID: 09739D-10-0) CELLULAR DYNAMICS INTERNATIO @ 12.00 J.P. MORGAN SECURITIES LLC (ID: 15117V-10-9) TOWER INTERNATIONAL INC @ 21.25 J.P. MORGAN SECURITIES LLC (ID: 891826-10-9) EFTA01546840 WCI COMMUNITIES INC @ 15.00 J.P. MORGAN SECURITIES LLC (ID: 92923C-80-7) 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 @ 100.00 JP MORGAN SECURITIES LLC (BIDL) (ID: 78423E-HS-6) Purchase Total Settled Securities Purchased JONES ENERGY INC - A @ 15.00 J.P. MORGAN SECURITIES LLC (ID: 48019R-10-8) 7,000.000 15.00 (105,000.00) ($8,495,330.70) 2,000.000 1,250.000 1,500.000 1,000.000 2,000,000.000 27.00 12.00 21.25 15.00 100.00 (54,000.00) (15,000.00) (31,875.00) (15,000.00) (2,000,000.00) Quantity 20,000.000 500.000 1,000.000 750,000.000 Per Unit Amount 25.00 23.00 18.00 100.00 Market Cost (500,000.00) (11,500.00) (18,000.00) (750,000.00) Account Page 29 of 33 Consolidated Statement Page 32 EFTA01546841 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Trade Date Type Est. Settle Date Selection Method Description Pending Sales, Maturities, Redemptions Sale 7/24 7/29 7/24 7/29 7/31 8/5 Total Pending Sales, Maturities, Redemptions $353,524.10 ($352,910.00) $614.10 S Sale Sale GRANA Y MONTERO SA - ADR (ID: 38500P-20-8) JONES ENERGY INC - A (ID: 48019R-10-8) COUSINS PROPERTIES INC (ID: 222795-10-6) Quantity (7,000.000) (7,000.000) (10,000.000) Per Unit Amount 21.542 14.263 10.385 Proceeds 150,512.37 99,560.86 103,450.87 Cost (147,910.00) (105,000.00) (100,000.00) Realized Gain/Loss 2,602.37 S (5,439.14) S 3,450.87 S Trade Date Est. Settle Date Type Pending Securities Purchased 7/24 Purchase 7/29 7/31 EFTA01546842 8/5 Total Pending Securities Purchased ($247,910.00) Purchase Description GRANA Y MONTERO SA - ADR (ID: 38500P-20-8) COUSINS PROPERTIES INC (ID: 222795-10-6) Quantity 7,000.000 10,000.000 Per Unit Amount 21.13 10.00 Market Cost (147,910.00) (100,000.00) Account Page 30 of 33 Consolidated Statement Page 33 EFTA01546843 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 COST ADJUSTMENTS Settle Date Type Cost Adjustments 7/26 Cost Basis Adj Description SOUTHERN CAL EDISON 6 1/4% DEC 31 2049 DTD 01/17/2012 GENERAL MAINTENANCE (ID: 842400-FU-2) Quantity 3,000,000.000 Cost Basis Adjustments 16,666.67 Account Page 31 of 33 Consolidated Statement Page 34 EFTA01546844 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Portfolio Activity Summary - Euro Beginning Cash Balance Current Transactions INFLOWS Contributions Foreign Exchange - Inflows Total Inflows OUTFLOWS ** Total Outflows Foreign Exchange - Outflows $0.00 Ending Cash Balance -$0.00 1,135,367.75 6,528,249.92 $7,663,617.67 (6,233,410.41) ($6,233,410.41) -0.00 837,388.58 5,000,000.00 5,837,388.58 0.00 837,388.58 * 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 (5,000,000.00) (5,000,000.00) -Period Value -US Dollar Value Local Value Year-To-Date Value* -Current Period Value 837,388.58 Year-To-Date Value* -Account Page 32 of 33 Consolidated Statement Page 35 EFTA01546845 EFTA01546846 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Portfolio Activity Detail - Euro TRADE ACTIVITY - Euro Note: F indicates Foreign Exchange Gain/Loss Per Unit Trade Date Est. Settle Date Type Pending Securities Purchased 7/31 Purchase 8/2 7/31 8/5 7/31 8/5 7/31 8/5 7/31 8/5 7/31 8/5 7/31 8/5 7/31 8/5 Purchase Purchase Purchase Purchase Purchase Purchase Purchase Description VOLKSWAGEN AG PFD ISIN DE0007664039 SEDOL 5497168 (ID: 928662-92-3) 3C DECAUX INTERNATIONAL ISIN FR0000077919 SEDOL 7136663 (ID: F5333N-91-0) AUTOGRILL SA ISIN IT000113734 SEDOL 5256206 (ID: T8347V-91-5) CARREFOUR SUPERMARCHE ISIN FR0000120172 SEDOL 5641567 (ID: F13923-90-3) ACCOR SA ISIN FR0000120404 SEDOL 5852842 (ID: F00189-90-6) RENAULT SA ISIN FR0000131906/SEDOL 4712798 (ID: 759994-90-8) COMPAGNIE DE SAINT-GOBAIN ISIN FR0000125007 SEDOL 7380482 (ID: F80343-95-1) BNP PARIBAS ISIN FR0000131104 SEDOL 7309681 (ID: F07875-90-3) EFTA01546847 Total Pending Securities Purchased (USD) Quantity 700.000 5,000.000 10,900.000 5,500.000 4,500.000 2,000.000 3,500.000 2,500.000 Amount USD Local Value 237.884 179.15 31.997 24.097 15.256 11.49 30.771 23.174 37.598 28.315 78.489 59.11 46.142 34.75 64.435 48.526 Market Cost USD Local Value (167,018.58) (125,781.21) (160,785.93) (121,087.42) (166,999.72) (125,767.01) (170,089.99) (128,094.28) (170,037.29) (128,054.59) (157,763.32) (118,811.10) (162,307.25) (122,233.12) (161,893.57) (121,921.58) ($1,316,895.65) $0.00 Currency Gain/Loss USD EFTA01546848 2,792.34 2,688.14 2,792.03 2,843.70 2,842.81 2,637.61 1,993.40 Account Page 33 of 33 Consolidated Statement Page 36 EFTA01546849 THIS PAGE INTENTIONALLY LEFT BLANK EFTA01546850 JPMorgan Chase Bank, N.A. 270 Park Avenue, New York, NY 10017-2014 SOUTHERN FINANCIAL LLC ACCT. For the Period 7/1/13 to 7/31/13 Derivatives Account J.P. Morgan Team Justin Nelson Janet Young Gina Magliocco Jason Grosse Online access 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). 203/629-3124 800/634-1318 Account Page 1 of 1 Consolidated Statement Page 37 EFTA01546851 THIS PAGE INTENTIONALLY LEFT BLANK EFTA01546852 JPMorgan Chase Bank, N.A. 270 Park Avenue, New York, NY 10017-2014 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Asset Account J.P. Morgan Team Justin Nelson Paul Barrett Janet Young Gina Magliocco Jason Grosse Online access 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). 203/629-3124 212/622-2770 800/634-1318 Table of Contents Account Summary Holdings Equity Cash & Fixed Income Portfolio Activity Page 2 4 6 8 Account Page 1 of 10 Consolidated Statement Page 38 EFTA01546853 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Account Summary Asset Allocation Equity Cash & Fixed Income Market Value Accruals Market Value with Accruals Beginning Market Value 8,809,374.15 14,261,001.22 $23,070,375.37 480.16 $23,070,855.53 Ending Market Value 9,686,188.09 14,282,061.07 $23,968,249.16 123.25 $23,968,372.41 Current Portfolio Activity Beginning Market Value Contributions Withdrawals & Fees Securities Transferred In Net Contributions/Withdrawals Income & Distributions Change In Investment Value Ending Market Value Accruals Market Value with Accruals $12,193.36 8,866.49 876,813.94 $23,968,249.16 123.25 $23,968,372.41 Period Value 23,070,375.37 12,313.55 (120.19) Change In Value 876,813.94 21,059.85 $897,873.79 (356.91) EFTA01546854 $897,516.88 Year-to-Date Value 0.00 13,930,603.55 (19,648.44) 8,313,261.08 $22,224,216.19 170,167.40 1,573,865.57 $23,968,249.16 123.25 $23,968,372.41 Equity Estimated 629,839.38 1,408.30 Current Annual Income Allocation 41% 59% $631,247.68 100% Cash & Fixed Income Asset Allocation Account Page 2 of 10 Consolidated Statement Page 39 EFTA01546855 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Account Summary Income Summary Domestic Dividends/Distributions Foreign Dividends Currency Gain/Loss Interest Income Income Partnership/Alt Asset Distributions Other Income & Receipts Cost Summary Equity Cash & Fixed Income Total CONTINUED Current Period Value 8,271.84 480.74 113.91 $8,866.49 Year-to-Date Value 14,813.01 480.74 4,528.25 345.91 $20,167.91 149,999.49 $149,999.49 14,282,061.13 Cost 4,999,983.00 $19,282,044.13 Unrealized Gain/Loss To-Date Value $2,031,571.98 ST Realized Gain/Loss Realized Gain/Loss Current Period Value Year-to-Date Value 1,902.00 $1,902.00 Account Page 3 of 10 Consolidated Statement Page 40 EFTA01546856 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Equity Summary Asset Categories US Large Cap Equity US Small Cap Equity Non-US Equity Total Value Market Value/Cost Market Value Cost Unrealized Gain/Loss Estimated Annual Income Yield Beginning Market Value 2,378,565.87 6,342,083.70 88,724.58 $8,809,374.15 Ending Market Value 2,558,139.69 7,031,555.04 96,493.36 $9,686,188.09 Current Period Value 9,686,188.09 4,999,983.00 2,031,572.04 629,839.38 6.50% Equity as a percentage of your portfolio - 41 % US Large Cap Equity Change In Value 179,573.82 689,471.34 7,768.78 $876,813.94 Current Allocation 11% 29% 1% 41% Non-US Equity US Small Cap Equity Asset Cate ories Account Page 4 of 10 EFTA01546857 Consolidated Statement Page 41 EFTA01546858 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Note: Unrealized Gain/Loss is shown as "N/A" in cases where we do not have appropriate cost information for all tax lots comprising the position. Please contact your J.P. Morgan team for additional information. ** Equity Detail Price US Large Cap Equity ASCENA RETAIL GROUP INC COM 04351G-10-1 ASNA JP MORGAN CHASE & CO Total US Large Cap Equity 46625H-10-0 JPM $2,558,139.69 $0.00 $0.00 $33,064.56 1.29% 55.73 21,753.000 1,212,294.69 N/A ** N/A 33,064.56 2.73% Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Inc. Accrued Div. Yield 19.09 70,500.000 1,345,845.00 N/A ** N/A US Small Cap Equity APOLLO GLOBAL MANAGEMENT LLC 037612-30-6 APO Non-US Equity BOMBARDIER INC CL B 097751-20-0 BBD B 26.72 EFTA01546859 263,157.000 7,031,555.04 4,999,983.00 2,031,572.04 594,734.82 8.46% 4.82 20,000.000 96,493.36 N/A ** N/A 2,040.00 2.11% Account Page 5 of 10 Consolidated Statement Page 42 EFTA01546860 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Cash & Fixed Income Summary Beginning Asset Categories Cash Non-USD Cash Total Value Market Value/Cost Market Value Cost Unrealized Gain/Loss Estimated Annual Income Accrued Interest Yield SUMMARY BY MATURITY 1 Cash & Fixed Income 0-6 months 1 Market Value 14,261,001.01 0.21 $14,261,001.22 Ending Market Value 14,282,060.86 0.21 $14,282,061.07 Current Period Value 14,282,061.07 14,282,061.13 (0.06) 1,408.30 123.25 Cash & Fixed Income as a percentage of your portfolio - 59 % SUMMARY BY TYPE Market Value 14,282,061.07 % of Bond Portfolio 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. Cash & Fixed Income Cash NON USD Cash Total Value EFTA01546861 Market Value 14,282,060.86 0.21 $14,282,061.07 % of Bond Portfolio 99% 1% 100% Cash Change In Value 21,059.85 0.00 $21,059.85 Current Allocation 58% 1% 59% Non-USD Cash Asset Cate ories Account Page 6 of 10 Consolidated Statement Page 43 EFTA01546862 SOUTHERN FINANCIAL, LLC ACCT. • For the Period 7/1/13 to 7/31/13 Note: 1 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 Detail Price Cash US DOLLAR 3PM PRIME MM FD - INSTL FUND 829 7-Day Annualized Yield: .03% Total Cash 1.00 1.00 14,083,024.24 199,036.62 14,083,024.24 199,036.62 $14,282,060.86 14,083,024.24 199,036.62 5.45 $14,282,060.86 $0.00 $1,408.30 $123.25 Non-USD Cash POUND STERLING 0.01% 1,408.30 117.80 0.01% Quantity Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield 1.52 0.14 0.21 0.27 (0.06) Account Page 7 of 10 EFTA01546863 Consolidated Statement Page 44 EFTA01546864 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 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 $14,083,024.24 * 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 801,902.00 (800,000.00) $1,902.00 -(120.19) ($120.19) Period Value 14,061,964 39 8,866.49 12,313.55 $21,180.04 Year-To-Date Value* -165,639.15 13,930,603.28 4,528.25 $14,100,770.68 (19,528.25) (120.19) ($19,648.44) Current Securities Transferred In/Out Securities Transferred In Period Value EFTA01546865 Year-To-Date Value* 8,313,261.08 Account Page 8 of 10 Consolidated Statement Page 45 EFTA01546866 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Portfolio Activity Detail - U S Dollar INFLOWS & OUTFLOWS Type Settle Date Selection Method Income 7/1 7/1 7/2 7/31 Div Domest Interest Income Foreign Dividend Div Domest Total Income Type Settle Date Selection Method Contributions 7/8 Misc Credit Description FEDWIRE CREDIT VIA: THE BANK OF NEW YORK MELLON/021000018 B/0: 126859 NEW YORK, NY 10286 REF: CHASE NYC/CTR/BBK=SOUTHERN FINANCIAL LLC ST THOMAS VI 00802-/AC-000000032920 BNF=SOUTHERN FINANCIAL, LLC/AC-ACCTCHASUS33 RFB=1067231 OBIMAD: 0708B1Q8151C002940 TRN: 2290009189FF Quantity Cost Description JPM PRIME MM FD - INSTL FUND 829 FOR JUN @ VARIOUS RATES FROM 0.0000828% TO 0.0001136% (ID: 4812A2-60-3) DEPOSIT SWEEP INTEREST FOR 06/01/13 - 06/30/13 @ .01% RATE ON AVG COLLECTED BALANCE OF $14,058,562.97 AS OF 07/01/13 BOMBARDIER INC CL B @ 0.024037 PER SHARE (ID: 097751-20-0) JP MORGAN CHASE & CO @ 0.38 PER SHARE (ID: 46625H-10-0) 20,000.000 21,753.000 0.024 0.38 480.74 8,266.14 $8,866.49 113.91 Quantity EFTA01546867 Cost 199,036.620 Per Unit Amount Amount 5.70 Amount 12,313.55 Account Page 9 of 10 Consolidated Statement Page 46 EFTA01546868 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Type Settle Date Selection Method Tax Payments 7/2 FGN Tax Withheld Description BOMBARDIER INC CL B TAX WITHHELD CANADA 25.00% (ID: 097751-20-0) Quantity Cost Amount (120.19) Account Page 10 of 10 Consolidated Statement Page 47 EFTA01546869 J.P. Morgan Securities LLC SOUTHERN FINANCIAL, LLC 383 Madison Avenue, New York, NY 10179 ACCT. For the Period 7/1/13 to 7/31/13 Margin Account J.P. Morgan Team Justin Nelson Paul Barrett Janet Young Gina Magliocco Jason Grosse Online access 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). 203/629-3124 212/622-2770 800/634-1318 Table of Contents Account Summary Holdings Cash & Fixed Income Portfolio Activity 3 5 Page 2 Account Page 1 of 5 Consolidated Statement Page 48 EFTA01546870 SOUTHERN FINANCIAL, LLC Account Summary MARGIN Cash Asset Allocation Cash & Fixed Income Market Value Market Value 33.49 $33.49 Margin Market Value 0.00 $0.00 Current Portfolio Activity Beginning Market Value Contributions Withdrawals & Fees Net Contributions/Withdrawals Ending Market Value Cost Summary Cash & Fixed Income Total $0.00 $33.49 Period Value 33.49 Short Market Value 0.00 $0.00 Year-to-Date Value 0.00 30,033.49 (30,000.00) $33.49 $33.49 33.49 Cost $33.49 Investment Objectives Speculation Permitted Income Generation Total 33.49 $33.49 Estimated $0.00 Current EFTA01546871 Market Value Annual Income Allocation 100% 100% ACCT. For the Period 7/1/13 to 7/31/13 Yes Yes Account Page 2 of 5 Consolidated Statement Page 49 EFTA01546872 SOUTHERN FINANCIAL, LLC Cash & Fixed Income Summary Beginning Asset Categories Cash Market Value 33.49 ACCT. For the Period 7/1/13 to 7/31/13 Ending Market Value 33.49 Change In Value 0.00 Current Allocation 100% Current Market Value/Cost Market Value Cost SUMMARY BY MATURITY 1 Cash & Fixed Income 0-6 months 1 Period Value 33.49 33.49 SUMMARY BY TYPE Market Value 33.49 % of Bond Portfolio 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. Cash & Fixed Income Cash Market Value 33.49 % of Bond Portfolio 100% Account Page 3 of 5 Consolidated Statement Page 50 EFTA01546873 EFTA01546874 SOUTHERN FINANCIAL, LLC Cash & Fixed Income Detail Quantity Price Cash US DOLLAR 1.00 33.49 Cash 33.49 33.49 Account Value Adjusted Cost Original Cost Unrealized Gain/Loss Est. Annual Income Accrued Interest Yield ACCT. For the Period 7/1/13 to 7/31/13 Account Page 4 of 5 Consolidated Statement Page 51 EFTA01546875 SOUTHERN FINANCIAL, LLC ACCT. For the Period 7/1/13 to 7/31/13 Portfolio Activity Summary Current Transactions Beginning Cash Balance INFLOWS Total Inflows Contributions $0.00 OUTFLOWS ** Total Outflows Withdrawals $0.00 Ending Cash Balance $33.49 * 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 Portfolio Activity Detail No Activity This Period Period Value 33.49 Year-To-Date Value* -30,033.49 $30,033.49 (30,000.00) ($30,000.00) -Account Page 5 of 5 Consolidated Statement Page 52 EFTA01546876 THIS PAGE INTENTIONALLY LEFT BLANK EFTA01546877 For the Period 7/1/13 to 7/31/13 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 EFTA01546878 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 5 EFTA01546879 For the Period 7/1/13 to 7/31/13 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, EFTA01546880 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 5 EFTA01546881 For the Period 7/1/13 to 7/31/13 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. EFTA01546882 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 5 EFTA01546883 For the Period 7/1/13 to 7/31/13 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 EFTA01546884 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. PRODUCT RELATED DISCLOSURE: THE JPMORGAN FUNDS OR THIRD PARTIES Shares of the funds referenced above are not bank deposits and are not guaranteed by any bank, government entity, or the FDIC. Return and share price will fluctuate and redemption value may be more or less than original cost. While the money market funds seek to maintain a stable net asset value of $1.00 per share, there is no assurance that they will continue to do so. The estimated annual income and dividend yield figures for mutual funds represent the funds' most recent income dividend annualized. Disclosures Page 4 of 5 EFTA01546885 For the Period 7/1/13 to 7/31/13 Prospectuses and other fund information for JPMorgan funds may be obtained by calling your J.P. Morgan team or JPMorgan Distribution Services, Inc. at (800) 480-4111. You also may view and order materials online for JPMorgan funds at www.jpmorganfunds.com. J.P. Morgan affiliates may receive compensation from the JPMorgan funds for providing investment advisory services to the funds. J.P. Morgan affiliates may also provide administrative, custodial, sales, distribution, shareholder or other services to the JPMorgan Funds or funds established, sponsored, advised, or managed by third parties, and J.P. Morgan affiliates may be compensated for such services as allowed by applicable law. The distributor of the JPMorgan Funds is JPMorgan Distribution Services, Inc., which is an affiliate of 3PMCB. Assets may be reflected herein even though they may be held by a third party unaffiliated with J.P. Morgan. In such cases, unless J.P. Morgan otherwise agrees, J.P. Morgan has no responsibility for the verification, valuation, safekeeping or management of those assets. Disclosures Page 5 of 5 EFTA01546886 EFTA01546887