Sandalwood Opportunity Fund

Fund Holdings

Asset Allocation

% Long % Net
Cash 10.18 10.18
Stocks 0.0 0.0
Bonds 74.84 74.84
Other 3.03 3.03
Foreign Bonds 11.94 11.94
Foreign Stocks 0.0 0.0
Convertible 0.0 0.0
Preferred 0.0 0.0

Updated 03.31.2014

Top 10 Holdings

Performance as of 06.30.2014

Portfolio as of 03.31.2014

% Net Assets
Structured Asset Inv 2005-10 FRN 2.15
Algeco Scotsman Global Fin 144A 10.75% 2.13
First Franklin Mtg 2005-Ffh3 FRN 2.09
Bayview Finl Tr 2006-D FRN 1.92
Mariposa Borrower Inc/Merger S 144A 8% 1.76
Intelsat Jackson Hldgs 7.5% 1.76
Blueline Rent Fin 144A 7% 1.69
Hca 8.5% 1.64
Ml Mtg Investors 2003 Opt1 FRN 1.58
Siderwinder Drilling 144A 9.75% 1.55