| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 4,500 | 4,500 | 0 |
| Name of Stock | End of Year Book Value | End of Year Fair Market Value |
|---|---|---|
| AES CORP - RESTD | 61,578 | 35,888 |
| POPEYS LA KITCHEN | 31,515 | 45,923 |
| AMERICAN INTL GROUP | 21,005 | 59,491 |
| AMERICAN TOWER CORPORATION - CL A | 16,931 | 55,746 |
| AUTOZONE INC | 7,853 | 11,129 |
| BANK OF AMERICA CORP | 34,318 | 33,323 |
| CARMAX INC | 0 | 0 |
| CINCINNATI BELL INC | 34,897 | 34,110 |
| CROWN HLDGS INC | 10,552 | 35,490 |
| DENNYS CORP | 13,574 | 23,346 |
| DOLLAR TREE INC | 36,946 | 54,054 |
| EQUINIX INC | 27,196 | 39,010 |
| GOLDCORP INC COM | 8,350 | 14,577 |
| INTERNAP NETWORK SERVICES CORP | 11,697 | 11,520 |
| KINDER MORGAN INC | 55,834 | 53,041 |
| KIRKLAND LAKE GOLD INC | 32,651 | 28,345 |
| MARKEL CORP | 18,577 | 48,584 |
| MICROSOFT CORP | 24,496 | 41,055 |
| MIDWAY GOLD CORP | 17,209 | 6 |
| NEWMOUNT MINING CORP | 39,964 | 12,863 |
| PIONEER NATURAL RESOURCES CO | 45,074 | 31,345 |
| PROBE MINES LTD | 244 | 673 |
| REDDY ICE HLDGS INC 7% SER A CON PFD RIGHTS | 4,768 | 1,503 |
| RIO NOVO GOLD INC WTS | 3,747 | 311 |
| ROSS STORES INC | 0 | 0 |
| SPDR GOLD TR GOLD SHS | 197,729 | 186,179 |
| TEEKAY SHIPPING CORP | 0 | 0 |
| TEEKAY OFFSHORE PARTNERS LP | 3,213 | 5,054 |
| UNIVERSAL DISPLAY CORP | 8,901 | 33,752 |
| ZAYO GROUP HLDGS INC | 56,486 | 58,896 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| ACACIA INSTITUTIONAL PARTNERS, LP | AT COST | 4,623,524 | 5,934,946 |
| MYRMIKAN GOLD FUND LLC | AT COST | 61,293 | 61,293 |
| COBIS | AT COST | 26 | 26 |
| SCRAM | AT COST | 7,282 | 7,282 |
| THE FEDERALIST LLC | AT COST | 2,164 | 2,164 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LEGAL FEE | 9,722 | 9,722 | 0 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| DIVIDEND RECEIVABLE | 0 | 327 | 327 |
| DUE FROM TRUSTEES FOR ACCOUNTING FEE PAID | 0 | 1,380 | 1,380 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| MEALS AND ENTERTAINMENTS FROM FEDERALIST K-1 | 108 | 0 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| FROM K-1 ACACIA INSTITUTIONAL PARTNERS, LP | 648,968 | 648,968 | 648,968 |
| FROM K-1 MYRMIKAN GOLD FUND LLC | -12,243 | -12,243 | -12,243 |
| FROM K-1 THE FEDERALIST LLC | -79,093 | -79,093 | -79,093 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| DUE TO TRUSTEES | 50,000 | 25,000 |
| PROFESSIONAL FEES PAYABLE | 8,500 | 8,500 |
| ACCRUED FEDERAL EXCISE TAX | 0 | 1,285 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT FEES | 9,181 | 9,181 | 0 | |
| BANK CHARGES | 658 | 658 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAX PAID | 95 | 95 | 0 | |
| FEDERAL EXCISE TAX | 21,131 | 0 | 0 |