Company Portfolio

Equus Energy
Equus Energy, LLC is a wholly-owned subsidiary of the Fund created to make investments in companies in the energy sector, with particular emphasis on income-producing oil & gas properties. In December 2011, we contributed $250,000 to the capital of Equus Energy. On December 27, 2012 we invested an additional $6.8 million in Equus Energy for the purpose of additional working capital and to fund the purchase of $6.6 million in working interests in 150 producing and non-producing oil and gas wells, including associated development rights of approximately 23,000 acres situated on 15 separate properties in Texas and Oklahoma. The working interests range from a de minimus amount to 50% of the leasehold production of these wells. The wells are operated by a number of experienced operators, including a major multi-national oil and gas conglomerate which has operating responsibility for approximately half of the producing well interests.

Equus Media Development Company, LLC
Equus Media Development Company, LLC (“EMDC”), a wholly-owned subsidiary of the Fund,
was formed by the Fund in January 2007.For the purpse of purchasing creative material to be used for commercial exploitation
in a variety of media platforms, including, but not limited to the production of motion pictures.

Infinia Corporation
Infinia Corporation (“Infinia”), based in Ogden, UT, is a developer of Stirling power system
operating on concentrated solar thermal energy for commercial power generation.

Orco Property Group
Orco Property Group S.A. (“OPG”) is a commercial and multi-family residential real estate holding company based in Paris. We originally invested in the bonds of Orco Germany S.A., a controlled subsidiary of OPG, in 2011.  During 2012, the Bonds were converted into 1,573,666 ordinary shares of OPG and €1,200,790 in newly-issued 6-year OPG notes. We subsequently sold 1,500,000 of our OPG shares in October 2012.

PalletOne, Inc.
PalletOne, Inc. (“PalletOne”) is considered the largest wooden pallet manufacturer in the United States,
operating 16 facilities in eleven states. PalletOne also owns and operates a major Florida-based wood
treating plant. PalletOne has a diverse customer base and competes with numerous other manufacturers
on a regional basis. homebuilding industry.

Spectrum Management, LLC
Spectrum Management, LLC (“Spectrum”) uses proprietary electronic tracking equipment and software,
and a full suite of custom services to help client organizations, mainly financial institutions, protect or
recover high-value merchandise and cash. This equipment and software also benefits law enforcement
agencies by reducing the occurrence of robberies and by assisting in the apprehension of perpetrators.

Trulite, Inc.
Trulite, Inc. (“Trulite”) is a developer of safe, clean, affordable, portable hybrid power generation
products that are also user friendly.

Click here to visit www.sec.gov to view a current list of Equus holdings.

The  list of Equus portfolio securities is not a solicitation, offer or recommendation to acquire or dispose of a particular security, and there is no assurance, as of the date of publication, that the securities purchased remain in the Fund’s portfolio or that securities sold have not been repurchased.