Bushido Capital Long/Short Fund

Class Inv (BCLSX)

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 20.62 9.11 11.5
Stocks 67.85 3.13 64.72
Bonds 12.09 0.0 12.09
Other 5.33 2.79 2.55
Foreign Bonds 3.69 0.0 3.69
Foreign Stocks 5.99 0.53 5.46
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 YTD Return % % Net Assets
CH Robinson Worldwide, Inc. CHRW -11.31 2.93
ProShares UltraShort 20+ Year Treasury --- --- 2.72
Allied World Assurance Company Holdings AG AWH -12.05 2.61
Toll Bros Fin 5.875% --- --- 2.47
Fairfax Finl Hldgs 144A 5.8% --- --- 2.41
HSN, Inc. HSNI -8.33 2.37
Oracle Corporation ORCL 0.97 2.35
Flowserve Corporation FLS 0.72 2.33
Dun & Bradstreet Corporation DNB -19.26 2.32
Kinder Morgan, Inc. KMI -10.97 2.3