Merk Currency Enhanced U.S. Equity Fund

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 695.51 687.06 8.45
Stocks 89.97 0.0 89.97
Bonds 0.0 0.0 0.0
Other 0.27 0.0 0.27
Foreign Bonds 0.0 0.0 0.0
Foreign Stocks 1.51 0.19 1.31
Convertible 0.0 0.0 0.0
Preferred 0.0 0.0 0.0

Updated 05.31.2014

Top 10 Holdings

Performance as of 06.30.2014

Portfolio as of 05.31.2014

% Net Assets
SPDR S&P 500 91.74
S&P500 Emini Fut Jun14 0.19