Richard R. Clifton

Highbridge Dynamic Comm Strg Fd Select — Buy

lIshares MSCI EAFE Index Fund — Buy

Prudential Retirement Guaranteed Income Fund

Northwestn Mutual whole hfe — None

Northwestn Mutual extra ordinary life — None

Midland National whole life — None

Trust#l

Trust#2

Trust#3¥ "777 "7 IRA)

JPMorgan Deposit Sweep Inst — Int/Div

Trust#4” "IRA rollover)

Trust#s — Int/Div

Eaton Vance Mut Fds Tr — Buy

Ishares S&P Midcap 400 Index Fund — Buy

Ishares Russell 1000 Value Index Fund — Buy

Ishares Russell 1000 Growth Index Fund — Buy

SPDR S&P 500 ETF Trust — Buy

Vanguard Emerging Market ETF — Buy

Trust#7 (7 — Int/Div

Eaton Vance Mut Fds Tr — Buy

JPMorgan Str Inc Opp Fd — Buy

JPMorgan High Yield Fd Select — Buy

JPMorgan Short Duration Bond Fd Select — Buy

Highbridge Dynamic Comm Strg Fd Select — Buy

Ishares MSCI EAFE Index Fund — Buy

Ishares S&P Midcap 400 Index Fund — Buy

Ishares Russell 1000 Value Index Fund — Buy

Ishares Russell 1000 Growth Index Fund — Buy

SPDR S&P 500 ETF Trust — Buy

Vanguard Emerging Market ETF — Buy

Director, American Judicature Society, Hawaii Chapter

Director, Hawaii Public Radio

Director, Hawaii Women's Legal Foundation

Director, Ninth Judicial Circuit Historical Society

Co-trustee, Trusts #1 - #7

Agreement — 1.01/01/95 — Cades Schutte Fleming & Wright Partnership Resolutions (including retirement terms, no control)

Reimbursement — Federal Judges Assn — 4/12-15/2011 — Washington, DC — Attend annual board meeting — Transportation, lodging, food

Income — 1.201) — University of Hawaii School of Law, teaching — $3.117.00

Spouse's income — 1.201) — Self-employed, dietitian consultant

1. Positions & VII. Investments and Trusts

As previously reported,”

assed away in recent years. Virtually all of the assets held by trusts created by them for their benefit were distributed

: and a bank (JPMorgan Chase)

in 2011.1 have been a co-trustee (without compensation) of those trust accounts, identified as Trusts #1-4, together with!

which is primarily responsible for investment decisions. It is my understanding that no assets remain in Trusts # 1, 2, and 4, so I do not expect to list those trusts

in future years. Only a small amount remains in Trust #3 and I assume it will be liquidated shortly. Some of the distributions were made to trusts identified as

Trusts #5-7. Those trusts were created previously and were reported last year, but they contained no assets until the distributions made in 2011. I am a co-trustee

of those trusts as well.