Crow Point Hedged Global Equity Income Fund

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 6.32 0.0 6.32
Stocks 33.2 0.0 33.2
Bonds 0.0 0.0 0.0
Other 1.8 0.66 1.14
Foreign Bonds 0.0 0.0 0.0
Foreign Stocks 43.48 0.0 43.48
Convertible 0.0 0.0 0.0
Preferred 15.86 0.0 15.86

Updated 11.30.2013

Top 10 Holdings

Performance as of 02.28.2014

Portfolio as of 11.30.2013

Ticker YTD Return % % Net Assets
Vanguard Nat Res Pfd --- --- 1.83
Lockheed Martin Corporation LMT 10.91 1.75
Ashford Hosptlty Tr Pfd --- --- 1.67
Newcastle Invt Corp New Pfd --- --- 1.56
Vodafone Group PLC ADR VOD -15.73 1.49
Bank Of China Ltd. H Shares BACHF -5.64 1.48
Deutsche Post AG DPW --- 1.47
Reynolds American Inc RAI 6.6 1.41
ConocoPhillips COP -5.17 1.39
Consolidated Communications, Inc. CNSL -1.24 1.37