Sandalwood Opportunity Fund

Fund Holdings

Asset Allocation

% Long % Net
Cash 24.89 24.89
Stocks 0.0 0.0
Bonds 70.91 70.91
Other 0.0 0.0
Foreign Bonds 4.2 4.2
Foreign Stocks 0.0 0.0
Convertible 0.0 0.0
Preferred 0.0 0.0

Updated 12.31.2012

Top 10 Holdings

Performance as of 04.30.2013

Portfolio as of 12.31.2012

% Net Assets
Option One Mtg Ln Tr 2005-5 FRN 6.73
Delta Fdg Hm Eq Ln Tr 1998-1 FRN 5.76
Cricket Comms 7.75% 4.53
Ms Heq Ln Tr 2007-2 FRN 3.92
Morgan Stanley Abs 2006-He3 FRN 3.69
Structured Asset Secs 2005-Wf1 FRN 3.58
Fremont Hm Ln Tr 2005-C FRN 3.15
Metropcs Wireless 7.875% 3.09
Citycenter Hldgs 7.625% 3.04
Ingles Mkts 8.875% 3.03
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