Investments

http://www.approachresources.com
Ticker: AREX

Founded in 2002, Approach Resources is an independent energy company engaged in the exploration, development, production and acquisition of unconventional natural gas and oil properties. The company seeks natural gas reserves in known tight gas sands and shale areas. It currently has working interests in 445 producing oil and gas wells with over 210 billion cubic feet of proven reserves in Texas, New Mexico, Kentucky and British Columbia.

http://www.cogdellspencer.com
Ticker: CSA

Founded in 1972, Cogdell Spencer is a publically traded Real Estate Investment Trust (REIT) specializing in the ownership, development, acquisition, management, and leasing of medical office buildings and healthcare related facilities. In 2008, Cogdell Spencer acquired Marshall Erdman & Associates (MEA), a Lubar holding headquartered in Madison, Wisconsin that is engaged in the architectural design, engineering and construction of healthcare facilities. During its fifty-plus year history, Erdman has built over 4,000 healthcare facilities that are located throughout the U.S. The combination of the two companies created the country's most integrated provider of real estate services to the healthcare industry.

http://www.crosstexenergy.com
Ticker: XTEX and XTXI

Founded in 1996, Crosstex Energy is engaged in the gathering, treating, processing, transmission and marketing of natural gas. The company operates over 5,000 miles of pipeline, 12 gas processing plants and carries over 3.1 billion cubic feet of gas per day throughout Texas and the Gulf Coast states. During the period of our investment, revenues have grown from $387 million to over $4.3 billion. Crosstex Energy, Inc. is the general partner of Crosstex Energy, LP.

http://www.darbyoverseas.com

Darby Overseas Investments was founded in 1994 by Nicholas F. Brady, former Secretary of the Treasury. It is today the private equity arm of Franklin Templeton Investments. The firm focuses its investment activity on three emerging market regions: Latin America, Asia and Central/Eastern Europe.

http://www.elloraenergy.com/

Founded in 2002, Ellora Energy is an independent oil and gas exploration and development company that owns properties in east Texas, western Louisiana and in the Hugoton field in southwest Kansas. The company operates 290 producing wells with over 293 billion cubic feet of proven reserves.

http://www.nov.com
Ticker: NOV

Grant Prideco is the world's largest manufacturer and supplier of oil field drill pipe and other drill stem products and the leading North American provider of high-performance premium connections and tubular products. During the period of our ownership, revenues grew from $6 million to over $1.8 billion. In 2008, Grant Prideco was acquired by National Oilwell Varco (NOV).

http://www.gwdrilling.com/
http://www.precisiondrilling.com
Ticker: PDS

Grey Wolf is a leading provider of turnkey and contract oil and gas land drilling services in the United States. The company serves major and independent oil and gas companies with a premium fleet of rigs operating primarily in south Texas, the Gulf Coast, Ark-La-Tex, Mississippi/Alabama, Mid Continent and Rocky Mountain areas. During the years of our investment, the company grew from $10 million in revenues and 6 rigs to over $900 million in revenues and more than 120 rigs. Grey Wolf was acquired by Precision Drilling Trust based in Calgary, Canada in December 2008.

http://www.sunrisecoal.com
Ticker: HPCO

Hallador, through its subsidiary Sunrise Coal LLC, is engaged in the production of coal from an underground mine located in Carlisle, Indiana. Annual production is approximately 3 million tons using the room and pillar method. The company also has oil and gas reserves in the San Juan Basin located in the northwest corner of New Mexico and owns a 32% equity interest in Savoy Energy, LLC, an oil and gas company with operations in Michigan.

http://www.lake-express.com

Founded in 2003, Lake Express is the first high speed ferry in the U.S. Traveling at speeds up to 40 mph, it carries passengers and vehicles across Lake Michigan between Milwaukee and Muskegon, Michigan in just two and one-half hours, saving passengers a lengthy drive through heavily congested Chicago. It is a fun, fast, and easy means of travel.

http://www.brewers.com

The Milwaukee Brewers are one of thirty professional baseball teams in Major League Baseball.

http://www.optiquecapital.com/home/

Optique Capital Management, Inc. is an SEC registered investment advisor specializing in value-related products. Its current fund offerings include domestic large cap, international large cap, international ADR equity and global dividend value products.

http://www.rocklandflooring.com
http://www.qualityonewoodwork.com

Rockland Industrial Products, LLC is a leading manufacturer of laminated wood flooring for the trailer and container markets in North America. The flooring is sold to original equipment manufacturers worldwide, including manufacturers of truck trailers, truck bodies, specialty units and both intermodal and domestic containers. The company also provides apitong wood products for the trailer and truck body industry as well as unfinished cabinets to major home improvement retailers through its Quality One Woodwork, LLC subsidiary.

http://www.sharedimaging.com

Shared Imaging, LLC is a leading, independent provider of CT, MRI and PET/CT imaging systems to hospitals and healthcare providers. The company has over 200 diagnostic imaging systems in 42 states, including one of the most advanced MRI technology portfolios in the industry and is the largest independent provider of CT systems in the US.

http://www.totallogistic.com

Total Logistics was a public company providing integrated logistics and facility management services through its wholly-owned subsidiary, Total Logistic Control. The company operated refrigerated and dry warehouses and provided distribution, transportation, manufacturing, procurement and packaging services to its customers. During the period of our ownership, revenues grew from $30 million to approximately $300 million. The company was purchased by SuperValu in 2005.

http://www.weatherford.com
Ticker: WFT

Weatherford International is a diversified international energy service and manufacturing company that provides a variety of drilling, completion and production services to the exploration, production and transmission sectors of the oil and gas industry. The company operates in virtually every oil and gas exploration and production region throughout the world, approximately 103 countries in total. The company divides its business into two separate segments: Drilling Services and Production Systems. During the period of our investment, revenues have grown from $250 million to nearly $10 billion.

http://www.wrightwoodcapital.com

Wrightwood Capital is a specialty real estate finance and investment company which provides capital to real estate developers and operators seeking creative financial solutions to meet their equity and debt financing needs. Wrightwood originates loans throughout the U.S. from its headquarters in Chicago and five branch offices. The company has a proven track record of more than 500 transactions closed and approximately $5 billion of capital invested.

http://www.zero-zone.com

Zero Zone, Inc. manufactures high quality refrigerated display case equipment for the supermarket, convenience store and drug store markets as well as refrigeration and electrical distribution systems used in supermarkets, ice arenas and cold storage industrial applications.