Dale Bath 1 coconut, 01 'monied P.oducl Cole Source *Mom PBS tontine HO Fcculsel Thal A6.,huraw inventive adolsor Awe Neese Art. Phone Merkel Value ULAN Vdvt $220,in 66 Banc Ac or y}2016 Loan Facility L0111 Facilky Puffiest, Cc 1x Lean Knotty Die *nova lltp• Even* Cod* no Na nvn Reven

CUSP:037833190 Market Value Unrealized Estimaled Estimated Gain Loss Annual Income Yield TOTAL PORTFOLIO HOLDINGS Cad Beds 517.054.451 20 Merkel Value 115.847.035.20 Unrealized Gain Lou 41.207.416.00 Accrued Interest 50.00 5292.229.53 Estimated Annual Income Generally. securities acquired

als 623,301,756.31 623,642,998.36 5241,242.05 Asset Allocation EQ,:fr Current Year-to-Date Portfolio Activity Period Value Value Beginning Merkel Value 23,066,607.08 22,408,661.03 Securities Transferred In (70,342.44) 1,817.95 Securities Transferred Out (96,567.63) Net Contributions/Withdrawa

nrealized Gain/Loss .00 U S Dollar - 35,178.09 Foreign Exchange Contracts Tata Date Settlement Counter Counter Current Market Market Value Merkel Value Unrealized Cute Cwrency Antoci,* Currency Amount Connate Rale Poniard Rare Receivables USD Payables USO Gant oss USO TRADE RELATED JAPAN

0.00 10% BAA 8,513,750.00 35% BA/ Lower 13,088,593.75 53% Not Rated 475,870.63 2% Tntal 24 497 R34 38 inn% 0 20 40 80 80 100 !WNW Merkel Value MatH Value Percent of Axed Income October t 2017 - October 31, 2017 SOUTHERN FINANCIAL LLC Bond Maturity Schedule Bond Maturity lotto 5 years

Total 19,128,158.30 100% 0 %of Bond Market Value Market Value Prang of Axed Income 20 40 80 80 100 Sof Bond Bond Maturity Market Value Merkel Value 6 to 10 years 309,000.00 2% Over 10 years 18,819,156.30 98% Total 19,128,156.30 100% Percentages of bond market values are rounded tot e

00% 0 20 40 60 80 100 Bond Maturity Schedule Bond Maturity IMI 1 tO 5 years n6 to 10 years • Over 10 years Total Market Value %al Bond Merkel Value 358,897.50 2% 316,125.00 2% 18,522,539.06 96% 19,197,561.56 100% Percentages of bond market values are rounded to the nearest whole percenta

00.000 26.0000 MIA,' RCM Drålly,e Ram Ponl. ~So. Ma.ramt Mr.ets COMIC< 4,04P Statement Period: 04101/2016 - 04/30/2016 Cast Bans Market Price Merkel Value Unrealized Gain/ loss Estimated Estimated Annual Income Yield 215,006.00 42.9100 211,550 00 .456 00 11,580.91 5.39% SiOlrIty Identifier:

,618.48 3136,726.08 Mated Value $0.00 86,855.64 Accrued Ett keeled Interest Annual Income TOTAL U.S. DOLLARS $136,726.08 $0.00 $6,855.54 Merkel Value Mined Strand Interne Annus Income TOTAL POFtTFOUO HOLDINGS - U.S. $3,584,810.33 $82,877.26 $192.948.04 DOLLARS Holdings Summary by Currency