| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| MUTUAL FUNDS | AT COST | 12,617,069 | 15,999,883 |
| BRIDGEWATER PRIVATE INVESTORS OFFSHO | AT COST | 1,000,000 | 1,150,139 |
| ORBIMED PARTNERS LTD | AT COST | 600,000 | 939,506 |
| GAVEA FUND LTD CL B | AT COST | 30,000 | 34,249 |
| WINTON FUTURES FUND | AT COST | ||
| JPM ACCESS MULTI-STRATEGY FD II | AT COST |