Salient Risk Parity Fund

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 99.35 267.2 -167.85
Stocks 0.0 0.0 0.0
Bonds 0.0 0.0 0.0
Other 48.62 0.0 48.62
Foreign Bonds 140.46 0.0 140.46
Foreign Stocks 78.77 0.0 78.77
Convertible 0.0 0.0 0.0
Preferred 0.0 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
Jpn 10y Bond Fut Dec13 58.37
Euro-Bund Fut Dec13 26.79
Us 10yr Note Fut Dec13 17.61
Can 10yr Bond Fut Dec13 16.81
Long Gilt Fut Dec13 12.14
Cotton No.2 Fut Dec13 9.98
Lean Hogs Fut Dec13 9.83
Lme Lead Fut Nov13 9.34
Wti Crude Fut Nov13 9.16
Aust 10y Bond Fut Dec13 8.73