DMS Baltic Index Fund

Class Inst (DBIAX)

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 55.09 0.89 54.2
Stocks 0.0 0.0 0.0
Bonds 0.0 0.0 0.0
Other 0.41 0.0 0.41
Foreign Bonds 0.0 0.0 0.0
Foreign Stocks 45.38 0.0 45.38
Convertible 0.0 0.0 0.0
Preferred 0.0 0.0 0.0

Updated 12.31.2013

Top 10 Holdings

Performance as of 02.28.2014

Portfolio as of 12.31.2013

Ticker % Net Assets
Tallink Grupp TAL1T 10.51
Tallinna Department Store --- 6.29
Olympic Entertainment Group OEG1T 3.03
Pieno Zvaigzdes AB PZV1L 2.67
Silvano Fashion Grp As --- 2.39
Tallinna Vesi TVSIF 2.04
Teo Lt Ab TEO1L 1.88
Pro Kapital Grupp, AS PKG1T 1.87
Apranga APG1L 1.43
Linas Argo Group --- 1.35