ASG Global Alternatives Fund
Investments as of January 31, 2015 (Unaudited)
Principal Amount
Security Description
Certificates of Deposit
25,000,000 Agricultural Bank of China
50,000,000 Banco Del Estado de Chile
21,100,000 Banco Del Estado de Chile
49,900,000 Banco Del Estado de Chile
70,000,000 Bank of Montreal (IL)
25,000,000 Bank of Montreal (IL)
30,000,000 Bank of Montreal (IL)
75,000,000 Bank of Nova Scotia (TX)
130,000,000 Bank of Tokyo-Mitsubishi UFJ (NY)
130,000,000 BNP Paribas
21,750,000 Canadian Imperial Bank of Commerce
25,000,000 China Construction Bank Corp. (NY)
130,000,000 Credit Agricole
130,000,000 Credit Industriel et Commercial
75,200,000 Deutsche Zentral-Genossenschaftsbank
120,000,000 Dexia Credit Local
4,750,000 DZ Bank AG
24,300,000 Industrial & Commercial Bank of China
40,000,000 Landesbank Hessen Thueringen Girozentrale
40,000,000 Mizuho Corporate Bank
50,000,000 Mizuho Corporate Bank
35,000,000 Mizuho Corporate Bank
130,000,000 National Bank of Kuwait
10,000,000 Norinchukin Bank
75,000,000 Norinchukin Bank
50,000,000 Rabobank Nederland
50,000,000 Rabobank Nederland
49,700,000 Royal Bank of Canada
125,000,000 Skandinaviska Enskilda Banken AB
66,200,000 Societe Generale S.A.
50,000,000 Standard Chartered Bank (NY)
39,100,000 State Street Bank and Trust Company
50,000,000 State Street Bank and Trust Company
70,000,000 Sumitomo Mitsui Bank (NY)
60,400,000 Sumitomo Mitsui Bank (NY)
125,000,000 Svenska Handelsbanken (NY)
30,000,000 Toronto Dominion Bank
100,000,000 Toronto Dominion Bank
25,000,000 U.S. Bank NA
75,000,000 Wells Fargo
40,000,000 Westpac Banking Corp. (NY)
30,000,000 Westpac Banking Corp. (NY)
Interest
Rate
0.210
0.200
0.200
0.246
0.238
0.248
0.248
0.200
0.130
0.080
0.040
0.418
0.130
0.200
0.310
0.305
0.400
0.180
0.140
0.200
0.230
0.240
0.270
0.200
0.320
0.220
0.291
0.267
0.260
0.299
0.278
0.229
0.247
0.250
0.298
0.190
0.260
0.310
0.160
0.268
0.238
0.298
Maturity
Date
2/27/2015
2/18/2015
4/23/2015
5/11/2015
8/7/2015
6/16/2015
7/16/2015
5/12/2015
2/3/2015
2/2/2015
2/2/2015
7/20/2015
2/4/2015
2/19/2015
2/25/2015
7/1/2015
5/19/2015
2/26/2015
2/3/2015
2/17/2015
4/2/2015
4/16/2015
3/4/2015
2/13/2015
7/8/2015
4/1/2015
6/15/2015
1/13/2016
5/4/2015
2/2/2015
5/6/2015
5/21/2015
6/15/2015
4/24/2015
7/6/2015
2/6/2015
8/11/2015
8/10/2015
4/27/2015
11/6/2015
7/17/2015
2/8/2016
Total
Financial Company Commercial Paper
30,000,000 General Electric Capital Corp.
25,000,000 JPMorgan Securities LLC
20,000,000 JPMorgan Securities LLC
74,150,000 Oversea-Chinese Banking Corp. Ltd.
40,000,000 Swedbank
30,700,000 Swedbank
33,750,000
Cofco Capital Corp., (Credit Support: Bank of China)
Shagang South-Asia (Hong Kong) Trading Co. Ltd.,
(Credit Support: Bank of China)
Vermont Economic Development Authority, (Credit
Support: JPMorgan Chase)
0.200(†)
0.250(†)
0.250(†)
0.220(†)
0.160(†)
0.160(†)
5/20/2015
4/29/2015
5/5/2015
4/28/2015
2/17/2015
2/23/2015
JPMorgan Chase Bank NA, Series 1
Wells Fargo
Total
24,996,500
50,000,550
21,099,029
49,897,156
69,992,790
24,999,000
29,997,210
75,008,475
129,999,220
130,000,000
21,750,000
25,000,000
129,999,870
130,001,430
75,207,069
119,985,600
4,751,720
24,299,635
39,999,920
39,999,800
49,998,250
34,999,265
130,006,500
10,000,080
74,990,025
50,000,850
49,996,000
49,695,179
125,013,000
66,200,000
49,996,700
39,097,302
49,997,950
69,999,993
60,397,463
125,000,625
30,000,000
100,021,200
25,000,600
74,988,600
39,996,240
29,996,940
______________
0.79%
1.58%
0.67%
1.57%
2.21%
0.79%
0.95%
2.37%
4.10%
4.10%
0.69%
0.79%
4.10%
4.10%
2.37%
3.79%
0.15%
0.77%
1.26%
1.26%
1.58%
1.10%
4.10%
0.32%
2.37%
1.58%
1.58%
1.57%
3.95%
2.09%
1.58%
1.23%
1.58%
2.21%
1.91%
3.95%
0.95%
3.16%
0.79%
2.37%
1.26%
0.95%
_________
29,983,170
24,987,650
19,989,340
74,110,404
39,998,120
30,697,891
______________
80.59%
0.95%
0.79%
0.63%
2.34%
1.26%
0.97%
_________
219,766,575
6.94%
0.420(†)
2/12/2015
42,447,623
1.34%
0.450(†)
2/2/2015
49,999,450
1.58%
0.200
5/7/2015
Total
Other Notes
20,000,000
50,000,000
% of Fund
2,552,377,736
Total
Commercial Paper
42,450,000
50,000,000
Market Value ($)
33,751,012
______________
126,198,085
0.355
0.367
2/5/2016
2/19/2016
20,001,020
50,004,200
______________
70,005,220
1.06%
_________
3.98%
0.63%
1.58%
_________
2.21%
ASG Global Alternatives Fund
Investments as of January 31, 2015 (Unaudited)
Total Investments
Other assets less liabilities
Net Assets
2,968,347,616
198,767,457
3,167,115,073
93.72%
6.28%
100.00%
Forward Foreign Currency Contracts
Contract to Buy/Sell
Sell
Buy
Sell
Buy
Sell
Buy
Sell
Sell
Buy
Buy
Sell
Sell
Buy
Sell
Delivery Date
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
Currency
Australian Dollar
British Pound
British Pound
Canadian Dollar
Canadian Dollar
Euro
Euro
Euro
Japanese Yen
Japanese Yen
Japanese Yen
Swedish Krona
Swiss Franc
Swiss Franc
Units of
Currency
65,300,000
66,125,000
15,062,500
152,600,000
381,800,000
294,500,000
542,500,000
58,500,000
24,362,500,000
11,350,000,000
75,400,000,000
222,000,000
63,125,000
144,500,000
Unrealized
Appreciation
Notional Value ($)
(Depreciation) ($)
50,695,481
3,383,432
99,568,825
(3,104,997)
22,680,611
339,648
120,019,292
(10,057,914)
300,284,179
30,170,969
332,910,272
(13,867,259)
613,255,765
43,866,246
66,129,884
(100,466)
207,567,676
1,604,027
96,701,616
(607,662)
642,405,449
(13,023,288)
26,840,746
2,600,085
68,900,431
(3,491,238)
157,720,591 ________________
(11,860,131)
Total
Financial Futures
25,851,452
Expiration Date
Contracts
Notional Value ($)
03/20/2015
03/20/2015
06/15/2015
03/20/2015
03/06/2015
02/26/2015
03/12/2015
03/27/2015
1,065
7,034
42,865
3,150
1,437
281
2,063
354
321,772,354
699,320,280
10,677,671,500
318,168,399
258,819,003
44,466,384
248,498,127
66,046,885
03/11/2015
03/20/2015
374
5,033
471,775,696
658,693,875
Unrealized
Appreciation
(Depreciation) ($)
Long
DAX
E-mini S&P 500®
Eurodollar
FTSE 100 Index
German Euro Bund
Hang Seng Index®
TOPIX
UK Long Gilt
10 Year Japan Government
Bond
10 Year U.S. Treasury Note
Total
Commodity Futures
16,430,520
(11,702,805)
3,930,025
7,067,976
1,873,720
(599,893)
4,724,662
3,584,518
2,043,771
18,617,281
________________
45,969,775
Expiration Date
Contracts
03/18/2015
02/12/2015
03/18/2015
03/12/2015
02/25/2015
02/27/2015
03/18/2015
02/20/2015
03/18/2015
481
1,435
243
460
724
312
284
226
480
Notional Value ($)
Unrealized
Appreciation
(Depreciation) ($)
Long
Aluminum LME
Brent Crude Oil
Copper LME
Low Sulfur Gas Oil
Natural Gas
New York Harbor ULSD
Nickel LME
WTI Crude Oil
Zinc LME
22,339,444
76,040,650
33,546,150
21,942,000
19,482,840
22,287,283
25,795,152
10,902,240
25,467,000
Sub Total
(662,289)
4,031,990
(1,256,695)
103,500
(1,065,320)
842,587
(951,963)
(162,720)
(170,892)
________________
708,198
Short
Copper LME
Gold
Nickel LME
03/18/2015
04/28/2015
03/18/2015
133
96
70
Sub Total
Total
(†)
18,360,650
12,280,320
6,357,960
3,185,350
124,050
(158,340)
________________
3,151,060
________________
3,859,258
Interest rate represents discount rate at time of purchase; not a coupon rate.
The Fund invests in commodity-related derivatives through its investment in the ASG Global Alternatives Cayman Fund Ltd., a wholly owned subsidiary
(the "Subsidiary"). Investments of the Subsidiary have been consolidated with those of the Fund for reporting purposes.
The portfolio is actively managed and holdings are subject to change. There is no guarantee the Fund continues to invest in the securities referenced.
ASG Global Alternatives Fund
Investments as of December 31, 2014 (Unaudited)
Principal Amount
Security Description
Certificates of Deposit
20,000,000 Agricultural Bank of China
50,000,000 Banco Del Estado de Chile
49,900,000 Banco Del Estado de Chile
5,100,000 Banco Del Estado de Chile
70,000,000 Bank of Montreal (IL)
25,000,000 Bank of Montreal (IL)
30,000,000 Bank of Montreal (IL)
75,000,000 Bank of Nova Scotia (TX)
20,000,000 Bank of Nova Scotia (TX)
130,000,000 Bank of Tokyo-Mitsubishi UFJ (NY)
120,350,000 Canadian Imperial Bank of Commerce
25,000,000 China Construction Bank Corp. (NY)
135,000,000 Credit Agricole
130,000,000 Credit Industriel et Commercial
75,200,000 Deutsche Zentral-Genossenschaftsbank
120,000,000 Dexia Credit Local
50,000,000 DNB Bank ASA
4,750,000 DZ Bank AG
2,200,000 Industrial & Commercial Bank of China
30,100,000 Landesbank Hessen Thueringen Girozentrale
40,000,000 Mizuho Corporate Bank
40,000,000 Mizuho Corporate Bank
50,000,000 Mizuho Corporate Bank
130,000,000 National Bank of Kuwait
10,000,000 Norinchukin Bank
70,000,000 Norinchukin Bank
50,000,000 Rabobank Nederland
50,000,000 Rabobank Nederland
125,000,000 Skandinaviska Enskilda Banken AB
50,000,000 Societe Generale S.A.
50,000,000 Standard Chartered Bank (NY)
50,000,000 Standard Chartered Bank (NY)
39,100,000 State Street Bank and Trust Company
50,000,000 State Street Bank and Trust Company
25,000,000 Sumitomo Mitsui Bank (NY)
70,000,000 Sumitomo Mitsui Trust (NY)
125,000,000 Svenska Handelsbanken (NY)
25,000,000 Toronto Dominion Bank
100,000,000 Toronto Dominion Bank
75,000,000 Wells Fargo
40,000,000 Westpac Banking Corp. (NY)
Interest
Rate
0.200
0.200
0.239
0.240
0.227
0.241
0.241
0.200
0.250
0.120
0.040
0.412
0.040
0.200
0.310
0.285
0.180
0.400
0.390
0.140
0.200
0.230
0.230
0.265
0.200
0.260
0.220
0.291
0.260
0.299
0.080
0.280
0.225
0.244
0.230
0.160
0.185
0.210
0.310
0.257
0.232
Maturity
Date
1/2/2015
2/18/2015
5/11/2015
1/23/2015
8/7/2015
6/16/2015
7/16/2015
5/12/2015
2/17/2015
1/5/2015
1/2/2015
7/20/2015
1/6/2015
2/19/2015
2/25/2015
7/1/2015
1/5/2015
5/19/2015
1/5/2015
1/5/2015
2/17/2015
1/16/2015
4/2/2015
3/4/2015
2/13/2015
1/8/2015
4/1/2015
6/15/2015
5/4/2015
2/2/2015
1/6/2015
5/6/2015
5/21/2015
6/15/2015
1/5/2015
1/9/2015
2/6/2015
1/16/2015
8/10/2015
11/6/2015
7/17/2015
Total
Financial Company Commercial Paper
30,000,000 General Electric Capital Corp.
25,000,000 JPMorgan Securities LLC
20,000,000 JPMorgan Securities LLC
74,150,000 Oversea-Chinese Banking Corp. Ltd.
40,000,000 Swedbank
30,700,000 Swedbank
33,750,000
Cofco Capital Corp., (Credit Support: Bank of China)
Shagang South-Asia (Hong Kong) Trading Co. Ltd.,
(Credit Support: Bank of China)
Vermont Economic Development Authority, (Credit
Support: JPMorgan Chase)
0.200(†)
0.250(†)
0.250(†)
0.220(†)
0.160(†)
0.160(†)
5/20/2015
4/29/2015
5/5/2015
4/28/2015
2/17/2015
2/23/2015
JPMorgan Chase Bank NA, Series 1
Wells Fargo
Total
19,999,788
50,000,000
49,896,357
5,100,194
69,991,670
24,998,825
29,996,730
74,994,525
20,003,460
129,998,960
120,350,000
25,000,000
134,999,055
129,998,180
75,211,656
119,988,240
50,000,300
4,751,458
2,200,057
30,099,910
39,998,920
40,000,888
49,994,900
130,003,380
9,999,880
70,001,120
49,998,700
49,994,150
125,017,125
49,998,950
49,999,400
49,996,000
39,096,716
49,997,600
25,000,150
69,999,510
124,999,375
25,001,000
100,030,700
74,987,400
39,995,600
______________
0.66%
1.65%
1.65%
0.17%
2.31%
0.83%
0.99%
2.48%
0.66%
4.30%
3.98%
0.83%
4.46%
4.30%
2.49%
3.97%
1.65%
0.16%
0.07%
1.00%
1.32%
1.32%
1.65%
4.30%
0.33%
2.32%
1.65%
1.65%
4.13%
1.65%
1.65%
1.65%
1.29%
1.65%
0.83%
2.32%
4.13%
0.83%
3.31%
2.48%
1.32%
_________
29,977,830
24,982,650
19,985,300
74,089,790
39,991,680
30,692,264
______________
80.39%
0.99%
0.83%
0.66%
2.45%
1.32%
1.01%
_________
219,719,514
7.26%
0.420(†)
1/15/2015
42,446,986
1.40%
0.450(†)
1/2/2015
49,999,640
1.65%
0.200
2/11/2015
Total
Other Notes
20,000,000
25,000,000
% of Fund
2,431,690,829
Total
Commercial Paper
42,450,000
50,000,000
Market Value ($)
33,751,012
______________
126,197,638
0.355
0.367
1/7/2016
1/20/2016
20,000,520
25,003,375
______________
45,003,895
1.12%
_________
4.17%
0.66%
0.83%
_________
1.49%
ASG Global Alternatives Fund
Investments as of December 31, 2014 (Unaudited)
Total Investments
Other assets less liabilities
Net Assets
2,822,611,876
202,302,224
3,024,914,100
93.31%
6.69%
100.00%
Forward Foreign Currency Contracts
Contract to Buy/Sell
Sell
Buy
Buy
Buy
Sell
Sell
Buy
Sell
Sell
Sell
Sell
Delivery Date
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
03/18/2015
Currency
Australian Dollar
British Pound
Canadian Dollar
Canadian Dollar
Canadian Dollar
Euro
Japanese Yen
Japanese Yen
Japanese Yen
Swedish Krona
Swiss Franc
Units of
Currency
65,300,000
51,562,500
52,900,000
50,100,000
304,000,000
281,000,000
11,350,000,000
8,587,500,000
42,912,500,000
222,000,000
90,750,000
Unrealized
Appreciation
Notional Value ($)
(Depreciation) ($)
53,033,293
1,045,620
80,318,991
(218,025)
45,456,965
66,273
43,050,925
(454,515)
261,227,169
4,347,149
340,248,898
5,854,306
94,817,741
(2,491,537)
71,739,855
200,107
358,490,424
(3,770,719)
28,485,305
955,526
91,401,004 ________________
1,629,738
Total
Financial Futures
7,163,923
Expiration Date
Contracts
Notional Value ($)
03/20/2015
03/20/2015
06/15/2015
03/20/2015
03/06/2015
01/29/2015
03/12/2015
03/27/2015
825
7,879
44,643
2,506
2,947
1,058
1,759
1,018
245,667,037
808,542,980
11,112,200,738
254,759,344
555,835,213
161,326,701
206,694,983
189,652,977
03/11/2015
03/20/2015
489
7,677
603,350,392
973,419,609
Unrealized
Appreciation
(Depreciation) ($)
Long
DAX
E-mini S&P 500®
Eurodollar
FTSE 100 Index
German Euro Bund
Hang Seng Index®
TOPIX
UK Long Gilt
10 Year Japan Government
Bond
10 Year U.S. Treasury Note
Total
Commodity Futures
1,662,684
12,980,652
(4,077,725)
2,714,569
9,604,810
1,564,771
(4,831,449)
4,367,636
2,898,564
3,167,478
________________
30,051,990
Expiration Date
Contracts
03/16/2015
01/15/2015
01/12/2015
01/28/2015
01/30/2015
03/16/2015
01/20/2015
03/16/2015
297
683
233
375
162
122
99
283
Notional Value ($)
Unrealized
Appreciation
(Depreciation) ($)
Long
Aluminum LME
Brent Crude Oil
Gas Oil
Natural Gas
New York Harbor ULSD
Nickel LME
WTI Crude Oil
Zinc LME
13,726,969
39,156,390
11,935,425
10,833,750
12,475,814
11,081,748
5,273,730
15,398,738
Sub Total
(1,052,494)
(5,316,030)
(3,433,550)
(2,283,750)
(474,239)
(1,362,252)
(453,980)
(223,587)
________________
(14,599,882)
Short
Copper LME
Gold
03/16/2015
02/25/2015
133
19
Sub Total
Total
(†)
20,974,100
2,249,790
571,900
31,340
________________
603,240
________________
(13,996,642)
Interest rate represents discount rate at time of purchase; not a coupon rate.
The Fund invests in commodity-related derivatives through its investment in the ASG Global Alternatives Cayman Fund Ltd., a wholly owned subsidiary
(the "Subsidiary"). Investments of the Subsidiary have been consolidated with those of the Fund for reporting purposes.
The portfolio is actively managed and holdings are subject to change. There is no guarantee the Fund continues to invest in the securities referenced.
ASG Global Alternatives Fund
Investments as of November 30, 2014 (Unaudited)
Principal Amount
Interest
Rate
Security Description
Certificates of Deposit
50,000,000 Banco Del Estado de Chile
49,900,000 Banco Del Estado de Chile
5,100,000 Banco Del Estado de Chile
25,000,000 Bank of Montreal (IL)
70,000,000 Bank of Montreal (IL)
30,000,000 Bank of Montreal (IL)
75,000,000 Bank of Nova Scotia (TX)
20,000,000 Bank of Nova Scotia (TX)
130,000,000 Bank of Tokyo-Mitsubishi UFJ (NY)
130,000,000 BNP Paribas
127,850,000 Canadian Imperial Bank of Commerce
25,000,000 China Construction Bank Corp. (NY)
130,000,000 Credit Agricole
130,000,000 Credit Industriel et Commercial
75,200,000 Deutsche Zentral-Genossenschaftsbank
120,000,000 Dexia Credit Local
50,000,000 DNB Bank ASA
4,750,000 DZ Bank AG
2,200,000 Industrial & Commercial Bank of China
75,000,000 KBC Bank NV (NY)
30,100,000 Landesbank Hessen Thueringen Girozentrale
40,000,000 Mizuho Corporate Bank
40,000,000 Mizuho Corporate Bank
50,000,000 Mizuho Corporate Bank
130,000,000 National Bank of Kuwait
70,000,000 Norinchukin Bank
50,000,000 Rabobank Nederland
50,000,000 Rabobank Nederland
125,000,000 Skandinaviska Enskilda Banken AB
50,000,000 Societe Generale S.A.
50,000,000 Standard Chartered Bank (NY)
39,100,000 State Street Bank and Trust Company
25,000,000 Sumitomo Mitsui Bank (NY)
70,000,000 Sumitomo Mitsui Bank (NY)
125,000,000 Svenska Handelsbanken (NY)
25,000,000 Toronto Dominion Bank
100,000,000 Toronto Dominion Bank
75,000,000 Wells Fargo
40,000,000 Westpac Banking Corp. (NY)
0.200
0.236
0.240
0.180
0.226
0.235
0.200
0.250
0.110
0.060
0.060
0.403
0.100
0.200
0.310
0.285
0.180
0.400
0.390
0.120
0.140
0.200
0.230
0.230
0.170
0.260
0.220
0.284
0.260
0.286
0.266
0.215
0.230
0.360
0.185
0.210
0.310
0.256
0.225
Maturity
Date
2/18/2015
5/11/2015
1/23/2015
1/8/2015
8/7/2015
7/16/2015
5/12/2015
2/17/2015
12/1/2014
12/1/2014
12/1/2014
7/20/2015
12/1/2014
2/19/2015
2/25/2015
7/1/2015
1/5/2015
5/19/2015
1/5/2015
12/3/2014
1/5/2015
2/17/2015
1/16/2015
4/2/2015
12/4/2014
1/8/2015
4/1/2015
6/15/2015
5/4/2015
2/2/2015
5/6/2015
5/21/2015
1/5/2015
12/5/2014
2/6/2015
1/16/2015
8/10/2015
11/6/2015
7/17/2015
Total
0.180(†) 12/11/2014
0.220(†)
4/28/2015
0.160(†)
2/23/2015
Total
33,750,000
Cofco Capital Corp., (Credit Support: Bank of China)
Shagang South-Asia (Hong Kong) Trading Co. Ltd.,
(Credit Support: Bank of China)
Vermont Economic Development Authority, (Credit
Support: JPMorgan Chase)
50,000,000
49,895,559
5,100,474
25,002,275
69,990,480
29,996,340
74,989,725
20,006,740
129,999,350
130,000,000
127,850,000
25,000,000
129,999,740
129,991,030
75,214,815
119,985,720
50,001,600
4,751,577
2,200,068
74,999,580
30,099,338
39,998,200
40,001,628
49,996,500
130,000,221
70,007,140
49,998,250
49,994,150
124,994,500
49,998,550
49,995,750
39,096,246
25,001,325
70,002,590
124,998,750
25,002,375
100,049,400
74,986,125
39,995,120
______________
1.63%
1.63%
0.17%
0.82%
2.29%
0.98%
2.45%
0.65%
4.25%
4.25%
4.18%
0.82%
4.25%
4.25%
2.46%
3.92%
1.63%
0.16%
0.07%
2.45%
0.98%
1.31%
1.31%
1.63%
4.25%
2.29%
1.63%
1.63%
4.09%
1.63%
1.63%
1.28%
0.82%
2.29%
4.09%
0.82%
3.27%
2.45%
1.31%
_________
49,999,100
74,075,331
30,689,762
______________
1.64%
2.42%
1.00%
_________
154,764,193
5.06%
12/4/2014
42,449,066
1.39%
0.400(†)
12/3/2014
49,999,400
1.63%
0.200
2/11/2015
33,751,350
______________
126,199,816
JPMorgan Chase Bank NA, Series 1
Wells Fargo
82.02%
0.430(†)
Total
Other Notes
20,000,000
25,000,000
% of Fund
2,509,191,231
Financial Company Commercial Paper
50,000,000 General Electric Capital Corp.
74,150,000 Oversea-Chinese Banking Corp. Ltd.
30,700,000 Swedbank
Commercial Paper
42,450,000
50,000,000
Market Value ($)
0.353
0.353
12/7/2015
12/18/2015
Total
Total Investments
Other assets less liabilities
Net Assets
19,999,760
25,001,000
______________
1.10%
_________
4.12%
0.65%
0.82%
_________
45,000,760
1.47%
2,835,156,000
224,252,480
3,059,408,480
92.67%
7.33%
100.00%
Forward Foreign Currency Contracts
Contract to Buy/Sell
Sell
Buy
Sell
Delivery Date
12/17/2014
12/17/2014
12/17/2014
Currency
Australian Dollar
British Pound
British Pound
Units of
Currency
65,300,000
25,875,000
12,125,000
Notional Value ($)
55,531,688
40,465,256
18,961,980
Unrealized
Appreciation
(Depreciation) ($)
1,523,387
(1,320,773)
660,368
ASG Global Alternatives Fund
Investments as of November 30, 2014 (Unaudited)
Buy
Sell
Buy
Sell
Buy
Sell
Buy
Sell
Sell
12/17/2014
12/17/2014
12/17/2014
12/17/2014
12/17/2014
12/17/2014
12/17/2014
12/17/2014
12/17/2014
Canadian Dollar
Canadian Dollar
Euro
Euro
Japanese Yen
Japanese Yen
Swedish Krona
Swedish Krona
Swiss Franc
119,600,000
423,600,000
127,000,000
408,000,000
19,637,500,000
42,787,500,000
672,000,000
672,000,000
90,750,000
Total
Financial Futures
104,516,219
370,176,174
158,038,332
507,713,698
165,524,209
360,655,230
90,140,611
90,140,611
93,986,880
(517,805)
12,479,733
(501,273)
16,076,074
(13,527,908)
27,344,452
(4,450,814)
2,376,939
2,241,599
________________
42,383,979
Notional Value ($)
Unrealized
Appreciation
(Depreciation) ($)
Expiration Date
Contracts
12/19/2014
12/19/2014
06/15/2015
12/19/2014
12/08/2014
12/30/2014
12/11/2014
03/27/2015
1,316
9,719
43,362
2,122
4,277
1,845
1,858
956
408,330,648
1,004,118,485
10,801,474,200
223,389,033
813,447,705
285,258,997
220,840,061
175,743,979
20,457,016
41,773,375
2,975,538
4,434,934
11,352,392
1,058,718
8,888,851
1,435,377
12/11/2014
03/20/2015
434
5,849
537,279,346
743,097,172
5,529,136
________________
Long
DAX
®
E-mini S&P 500
Eurodollar
FTSE 100 Index
German Euro Bund
Hang Seng Index®
TOPIX
UK Long Gilt
10 Year Japan Government
Bond
10 Year U.S. Treasury Note
Total
Commodity Futures
3,014,578
100,919,915
Expiration Date
Contracts
12/17/2014
12/16/2014
12/17/2014
01/12/2015
02/25/2015
12/29/2014
12/31/2014
12/15/2014
12/15/2014
147
167
1,026
89
119
197
63
122
129
Notional Value ($)
Unrealized
Appreciation
(Depreciation) ($)
Long
Aluminum LME
Brent Crude Oil
Copper LME
Gas Oil
Gold
Natural Gas
New York Harbor ULSD
Nickel LME
Zinc LME
7,384,913
11,715,050
164,390,850
5,822,825
13,988,450
8,053,360
5,718,535
11,882,556
7,131,281
Sub Total
(380,914)
(2,307,940)
(16,197,975)
(333,750)
(249,900)
(701,320)
(592,439)
(1,138,992)
(657,094)
________________
(22,560,324)
Short
Copper LME
WTI Crude Oil
12/17/2014
12/19/2014
866
789
Sub Total
Total
(†)
138,754,850
52,192,350
4,445,793
8,283,800
________________
12,729,593
________________
(9,830,731)
Interest rate represents discount rate at time of purchase; not a coupon rate.
The Fund invests in commodity-related derivatives through its investment in the ASG Global Alternatives Cayman Fund Ltd., a wholly owned subsidiary
(the "Subsidiary"). Investments of the Subsidiary have been consolidated with those of the Fund for reporting purposes.
The portfolio is actively managed and holdings are subject to change. There is no guarantee the Fund continues to invest in the securities referenced.