Merk Hard Currency Fund

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 92.73 13.22 79.51
Stocks 0.0 0.0 0.0
Bonds 0.0 0.0 0.0
Other 14.71 0.0 14.71
Foreign Bonds 5.78 0.0 5.78
Foreign Stocks 0.0 0.0 0.0
Convertible 0.0 0.0 0.0
Preferred 0.0 0.0 0.0

Updated 01.31.2014

Top 10 Holdings

Performance as of 02.28.2014

Portfolio as of 01.31.2014

% Net Assets
SPDR Gold Shares 14.71
New Zealand(Govt) 6% 5.78
Gold 100 Oz Futr Apr14 0.0