| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ACCOUNTING FEES | 5,807 | 2,903 | 0 | 2,904 |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| INVESTMENT-SUN VALLEY GOLD | AT COST | 3,161,717 | 1,010,432 |
| INVESTMENT-PRIVATE ADVISORS EQUITY | AT COST | 1,837,366 | 2,486,093 |
| INVESTMENT-KINYAN CAPITAL | AT COST | 1,728,991 | 2,004,016 |
| INVESTMENT-CHEYNE EXPLORER EQUITY FUND INC | AT COST | 0 | 0 |
| INVESTMENT-FOXHAVEN CAPITAL | AT COST | 960,621 | 1,000,810 |
| INVESTMENT-INTERRITUS LTD | AT COST | 2,000,000 | 2,000,000 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| OTHER PROFESSIONAL FEES | 4,296 | 0 | 0 | 4,296 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| ADMINISTRATIVE EXPENSE | 884 | 0 | 0 | 884 |
| INCENTIVE FEE | 2,790 | 2,790 | 0 | 0 |
| DEDUCTIONS RELATED TO PORTFOLIO INCOME | 5,515 | 5,515 | 0 | 0 |
| MANAGEMENT FEES | 25,305 | 25,305 | 0 | 0 |
| OTHER EXPENSES | 28,933 | 0 | 0 | 28,933 |
| FILING FEE | 503 | 503 | 0 | 0 |
| LOSS IN KINYAN CAPITAL | 822 | 822 | 0 | 0 |
| LOSS IN SUN VALLEY GOLD | 33,928 | 33,928 | 0 | 0 |
| Description | Revenue And Expenses Per Books | Net Investment Income | Adjusted Net Income |
|---|---|---|---|
| CHEYNE EXPLORER EQ FD | 2,954 | 2,954 | 2,954 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAXES | 115 | 115 | 0 | 0 |