ng, Inc. News Trust CRUTs Hedge Funds -Direct AIP Custom HF Solutions - 11,786,794 11,786,794 American Steadfast, L.P. 53311,998 5,911,998 AP Investments Europe Limited 7,619 7.649 Ascot Fund Limited 0 0 Blackstone Offshore Fund II - 2,298,697 2,298,697 Castle Advisors, L.P. 14,422 106,365 120,787 CA Ab

ities $5,438,298 Goldman Sachs MLP $5,438,298 Global Bonds $3,496,917 Templeton Global Bond Fund $3,496,917 Hedge Funds -Direct $13,476,911 AP Investments Europe Limited $7,649 CCA Absolute Return Muni Strategy, LP. $5,260,317 Paulson Advantage Plus, LP. $8,120,352 Taconic Opportunity Fund $88,593 Private Capi

N CRUT News Trust Total Hedge Funds-Direct AIP Custom HF Solutions • 5,815,971 5,815,971 American Steadfast L.P. 5,578,572 - - 5,578,572 AP Investments Europe Limited 59,676 - 59,676 Ascot Fund Limited • 0 0 Blackstone Offshore Fund II • 1,838,896 1,838,896 CCA Absolute Return Muni Strategy, L.P. 5,130

Corporate Bonds $23,804,221 Sei‘ $23,804,221 Global Bonds $2,142,551 Templeton Global Bond Fund $2,142,551 Hedge Funds -Direct $25,728,586 AP Investments Europe Limited $59,676 CCA Absolute Return Muni Strategy, L.P. $5,130,604 Paulson Advantage L.P. $11,031,689 Paulson Advantage Plus, L.P. $9,388,107 Taconic