Sandalwood Opportunity Fund

Fund Holdings

Asset Allocation

% Long % Net
Cash 7.76 7.76
Stocks 0.0 0.0
Bonds 82.72 82.72
Other 0.0 0.0
Foreign Bonds 8.21 8.21
Foreign Stocks 0.0 0.0
Convertible 1.31 1.31
Preferred 0.0 0.0

Updated 09.30.2013

Top 10 Holdings

Performance as of 02.28.2014

Portfolio as of 09.30.2013

% Net Assets
First Franklin Mtg 2005-Ffh4 FRN 3.16
Bayview Finl Tr 2006-D FRN 2.29
Meritage Mtg Ln Tr 2005-2 FRN 2.17
Kellwood 12.875% 2.02
Ace Secs Heq 2006-Nc1 FRN 2.02
Long Beach Mtg Ln Tr 2003-4 FRN 2.02
Csfb Coml Mtg Ptc 2006-C3 CMO 1.88
Equifirst Mtg Ln Tr 2005-1 FRN 1.86
Valeant Pharmaceuticals Intl 144A 6.5% 1.85
Icahn Enterprises Lp/Corp 7.75% 1.84