Richard R. Clifton

First Hawaiian Bank savings — Interest

First Hawaiian Bank checking — Interest

Hawai Central Credit Union — Interest

Univ of Hawaii FCU — Interest

Goodyear common — None

Hawaiian Electric Industries common — Int/Div

Brokerage acct #177 7%

Echostar common — None

Dish Network Cl A common — None

IBM common — Int/Div

Real Networks common — None

Morgan Stanley Bank — Interest

NATIXIS Cash Mgtmt Trust — None

Fidelity Growth & Income (IRA) — Int/Div

Fidelity Magellan Fund (IRA) — Int/Div

Oppenchiner Growth Fund A (IRA) — Int/Div

Brokerage acct #2(77777]

Ballard Power Systems common — None

Cienacommon — None

Intel common — Int/Div

Charles Schwab Money Market Fund — Int/Div

Hawaii state bonds — None — Matured

IRAacct HE

Intel common — Int/Div

Microsoft common — Int/Div

Templeton Growth Fund class A — Int/Div

Charles Schwab Money Market Fund — Int/Div

CREF Stock Fund — None

CREF Global Equities — None

JP Morgan Group Equity Index Fund AER — Int/Div

JP Morgan Group Equity Index Fund Af} — Int/Div

Brokerage acct #6] 7]

Berkshire Hathaway Class A — None

Charles Schwab Money Market Fund — Int/Div

HR-10 and 401K accts (former law firm) — None

American Funds AMCAP Fund

Oppenheimer Main Street Small Cap Fund

American Funds Investment Co of America(HR-10)

American Funds Wash Mutual Invs (HR-10)

PIMCO Total Return - A (HR-10)

Prudential Retirement Guaranteed Income Fund

Northwestn Mutual whole life — None

Northwestn Mutual extra ordinary life — None

Midland National whole life — None

Trust #175 — Int/Div

JP Morgan Tax Free Mmkt Prem Sweep

Cullen HighDivid Eq Fd Cl — Sold

FMI Large Cap Fd — Sold

Hartford Mut Cap Appreciation Fd — Sold

Ishares Tr Russell 1000 Value Index — Sold

Ishares Tr S&P 500 Index Fund — Sold

lvy Large Cap Growth Fd CI 1 — Sold

JPMorgan Intrepid America Fd — Sold

Ishares Tr Cohen & Steers Rity Major — Sold

Ishares Tr Russell Midcap Index Fund — Sold

JPMorgan Mkt Expansion Index Fd — Sold

JPMorgan Multi-cap Mkt Neutral Fd — Sold

JPMorgan Small Cap Equity Fund — Sold

JPMorgan Tr Highbridge Stat Mkt Neut Fd — Sold

Dodge & Cox Fds Intl Stk Fd — Sold

Ishares MSCI All Cntry Asia Ex Jap Fd — Sold

JPMorgan Asia Equity Fd — Sold

JPMorgan Intrepid Intl Fd Select — Sold

JPMorgan International Equity Index — Sold

T Rowe Price Intl Fds New AsiaFd — Sold

Ishares Tr Barclays Tips Bd Fd — Sold

Goldman Sachs Tr High YId Fd Instl — Sold

JPMorgan Strat Incm Oppys Fd Sel — Sold

JPMorgan High Yield Bond Fund Select — Sold

JPMorgan Short Duration Bond Fd — Sold

Vanguard Fx Inc Sec Tm Invt Grd — Sold

Trust#2{ 57 — Int/Div

JP Morgan Tax Free Mmkt Prem Sweep

Dodge & Cox Fds Intl Stk Fd — Sold

Eaton Vance Invt Tr Lg Cap Val Fd I — Sold

FMI Large Cap Fd — Sold

Hartford Mut Cap Appreciation Fd — Sold

Ishares MSCI All Cntry Asia Ex Jp Fd — Sold

Ishares Russell Midcap Index Fd — Sold

shares Tr S&P 500 Index Fd — Sold

lvyLarge Cap Growth FdCl1 — Sold

JPMorgan Asia Equity Fd — Sold

JPMorgan Highbridge Stat Mkt Neut Fd — Sold

JPMorgan Intml Equity Index — Sold

JPMorgan Intrepid America Fd — Sold

JPMorgan Intrepid Intl Fd Select — Sold

JPMorgan US Large Cap Core Plus Sel — Sold

JPMorgan US Real Estate Fund — Sold

T Rowe Price Int Fds New Asia Fd — Sold

Ishares Tr Barclay Tips Bd Fd — Sold

Goldman Sachs Tr High Yield Fd Instl — Sold

JPMorgan High Yield Bond Fund — Sold

Ishares Tr US Treas Intl Prot Fd — Sold

JPMorgan Short Duration Bond Fd — Sold

JPMorgan I Strat Incm Oppys Fd Sel — Sold

Vanguard Fx Inc Sec Int Rm Invt Grd — Sold

Trust #30307 IRA) — Int/Div

JPMorgan Deposit Sweep Inst

Aston Fds Tamro Small Cap Fd Cl — Sold

FMI Large Cap Fd — Sold

Ishares Russell Midcap Growth Index Fd — Sold

Ishares Russell Midcap Index Fd — Sold

Ishares Russell 1000 Growth Index — Sold

Ishares Russell 1000 Value Index — Sold

JPMorgan Asia Equity Fd — Sold

JPMorgan Diversitied Mid Cap Growth Fd — Sold

JPMorgan Growth Advantage Fd Select — Sold

JPMorgan Highbridge State Mkt Neut Fd — Sold

JPMorgan International Value Fd — Sold

JPMorgan Intrepid America Fund — Sold

JPMorgan Intrepid Intl Fd Select — Sold

JPMorgan US Large Cap Core Plus Select — Sold

JPMorgan US Real Estate Fund — Sold

JPMorgan High Yield Bond Fund Select Class — Sold

JPMorgan Short Duration Bond Fund Select Class — Sold

JPMorgan Strat Incm Oppys Fd Sel — Sold

Manning & Napier New World Oppys A — Sold

SPDR Tr Unit Ser — Sold

Goldman Sachs Tr High Yld IFd Inst] — Sold

Ishares Barclays Tips Bd Fd — Sold

Vanguard Fx Inc Sec Int Tm Invt Grd — Sold

Trust HAT IRA rollover) — Int/Div

Cash

Trust #55

Trust #677777] HPEL

145. Trust#3 7

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

Spouse's income — 2010 — Self-employed, dietitian consultant

I. Positions & VII. Investments and Trusts

gm

Sted away in 2010

+ had passed away in 2006. As previously reported, 1 have been and remain a co-trustee (without compensation),

together:

and a bank (JPMorgan Chase, which is compensated and which actually manages the accounts), of trust accounts, identified as Trusts

#1-3. Payme

t were made for trust expenses and as directed by the current benefi iciary,

fd

| whilef] was still living, and for payment of?

obligations and final expenses.

passing triggered liquidation of assets held in those acc accounts, converting the assets to cash, and also distribution of

some of the assets to heirs, beneficiaries, pat legatees. It also made me responsible, as co-trustee, for additional accounts, identified in this report as Trusts #4-7.

One of those accounts, identified as Trust #4, already existed and held assets when I assumed responsibility. Three of the accounts, identified as Trusts #5-7, were

created in late 2010 but were not actually funded until 2011. I have listed them here in both Part 1 and Part VII, but they had no assets as of December 31,2010 to

report