Elessar Small Cap Value Fund

Fund Holdings

Asset Allocation

% Long % Net
Cash 5.92 5.92
Stocks 92.44 92.44
Bonds 0.0 0.0
Other 0.0 0.0
Foreign Bonds 0.0 0.0
Foreign Stocks 1.64 1.64
Convertible 0.0 0.0
Preferred 0.0 0.0

Updated 12.31.2013

Top 10 Holdings

Performance as of 02.28.2014

Portfolio as of 12.31.2013

Ticker YTD Return % % Net Assets
American Equity Investment Life Holding Company AEL -17.29 3.18
Argo Group International Holdings Ltd. AGII -6.13 3.11
Basic Energy Services, Inc. BAS 49.11 2.78
Digital Generation Inc DGIT -5.26 2.67
Petroquest Energy, Inc. PQ 10.65 2.64
Orbital Sciences Corporation ORB 21.5 2.6
Wabash National Corporation WNC 8.83 2.51
Iberiabank Corp IBKC 3.77 2.5
Ramco-Gershenson Properties Trust RPT 5.21 2.47
EnerSys, Inc. ENS -0.4 2.46