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        <OrgDoesNotFollowSFAS117Ind>X</OrgDoesNotFollowSFAS117Ind>
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        <EsPenaltyAmt>23</EsPenaltyAmt>
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        <AppliedToESTaxAmt>172</AppliedToESTaxAmt>
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        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
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        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
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        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
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        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
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        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
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        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
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          <PersonNm>DAWN L PILOT</PersonNm>
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        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>NIKKI M PILOT</PersonNm>
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        <Description1Txt>N/A</Description1Txt>
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          <FormAndInfoAndMaterialsTxt>NONE</FormAndInfoAndMaterialsTxt>
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          <RestrictionsOnAwardsTxt>NONE</RestrictionsOnAwardsTxt>
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        <GrantOrContributionPdDurYrGrp>
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          <RecipientUSAddress>
            <AddressLine1Txt>8525 HOMESTEAD LANE</AddressLine1Txt>
            <CityNm>ETNA</CityNm>
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            <ZIPCd>96027</ZIPCd>
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        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <IRS990ScheduleB documentId="RetDoc1">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1Txt>COTTAGE LANDING PROPERTIES LLC</BusinessNameLine1Txt>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1Txt>5690 WATERNELON RD STE 400</AddressLine1Txt>
          <CityNm>NORTHPORT</CityNm>
          <StateAbbreviationCd>AL</StateAbbreviationCd>
          <ZIPCd>35473</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>8418</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
      <ContributorInformationGrp>
        <ContributorNum>2</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1Txt>THE HAMPTONS STATESBORO LLC</BusinessNameLine1Txt>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1Txt>5690 WATERMELON RD STE 400</AddressLine1Txt>
          <CityNm>NORTHPORT</CityNm>
          <StateAbbreviationCd>AL</StateAbbreviationCd>
          <ZIPCd>35473</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>27362</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <DepreciationSchedule documentId="RetDoc4">
      <DepreciationPropertyGrp>
        <PropertyDesc>LAND</PropertyDesc>
        <AcquiredDt>2010-11-18</AcquiredDt>
        <CostOrOtherBasisAmt>212753</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>LAND</PropertyDesc>
        <AcquiredDt>2011-04-07</AcquiredDt>
        <CostOrOtherBasisAmt>821578</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>LAND</PropertyDesc>
        <AcquiredDt>2011-12-09</AcquiredDt>
        <CostOrOtherBasisAmt>420887</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HOUSE - CALIFORNIA</PropertyDesc>
        <AcquiredDt>2011-11-17</AcquiredDt>
        <CostOrOtherBasisAmt>324861</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HOUSE - BIRMINGHAM</PropertyDesc>
        <AcquiredDt>2011-05-02</AcquiredDt>
        <CostOrOtherBasisAmt>552025</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HOUSE IMPROVEMENTS - CALIFORNIA</PropertyDesc>
        <AcquiredDt>2012-06-22</AcquiredDt>
        <CostOrOtherBasisAmt>56400</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HOUSE IMPROVEMENTS - BIRMINGHAM</PropertyDesc>
        <AcquiredDt>2012-06-08</AcquiredDt>
        <CostOrOtherBasisAmt>200000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>FURNITURE/FIXTURES - CALIFORNIA</PropertyDesc>
        <AcquiredDt>2012-06-28</AcquiredDt>
        <CostOrOtherBasisAmt>74217</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>FURNITURE/FIXTURES - BIRMINGHAM</PropertyDesc>
        <AcquiredDt>2012-12-20</AcquiredDt>
        <CostOrOtherBasisAmt>114009</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HOUSE - CA 9102 HOMESTEAD</PropertyDesc>
        <AcquiredDt>2013-01-25</AcquiredDt>
        <CostOrOtherBasisAmt>182008</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HOUSE IMPROVEMENTS - BIRMINGHAM</PropertyDesc>
        <AcquiredDt>2013-03-11</AcquiredDt>
        <CostOrOtherBasisAmt>68624</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HOUSE IMPROVEMENTS - BIRMINGHAM</PropertyDesc>
        <AcquiredDt>2013-11-06</AcquiredDt>
        <CostOrOtherBasisAmt>7957</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HOUSE IMPROVEMENTS - BIRMINGHAM</PropertyDesc>
        <AcquiredDt>2013-12-11</AcquiredDt>
        <CostOrOtherBasisAmt>2079</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HOUSE IMPROVEMENTS - BIRMINGHAM</PropertyDesc>
        <AcquiredDt>2013-12-18</AcquiredDt>
        <CostOrOtherBasisAmt>50000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>FURNITURE/FIXTURES - BIRMINGHAM</PropertyDesc>
        <AcquiredDt>2013-03-11</AcquiredDt>
        <CostOrOtherBasisAmt>22676</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>FURNITURE/FIXTURES - CA 9102 HOMESTEAD</PropertyDesc>
        <AcquiredDt>2013-04-25</AcquiredDt>
        <CostOrOtherBasisAmt>9500</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HOUSE IMPROVEMENTS - CALIFORNIA AC UNIT</PropertyDesc>
        <AcquiredDt>2013-07-25</AcquiredDt>
        <CostOrOtherBasisAmt>5200</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HOUSE IMPROVEMENTS - BIRMINGHAM</PropertyDesc>
        <AcquiredDt>2014-08-22</AcquiredDt>
        <CostOrOtherBasisAmt>170000</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HOUSE IMPROVEMENTS - BIRMINGHAM</PropertyDesc>
        <AcquiredDt>2014-04-08</AcquiredDt>
        <CostOrOtherBasisAmt>35275</CostOrOtherBasisAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>HOUSE IMPROVEMENTS - BIRMINGHAM</PropertyDesc>
        <AcquiredDt>2015-09-30</AcquiredDt>
        <CostOrOtherBasisAmt>200012</CostOrOtherBasisAmt>
        <LifeRt>27.5000</LifeRt>
      </DepreciationPropertyGrp>
    </DepreciationSchedule>
    <GainLossSaleOtherAssetsSch documentId="RetDoc5">
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>STIFEL</AssetDesc>
        <AcquiredDt>2016-01</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2016-12</SoldDt>
        <GrossSalesPriceAmt>377896</GrossSalesPriceAmt>
        <BasisAmt>327682</BasisAmt>
        <TotalNetAmt>50214</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>STIFEL</AssetDesc>
        <AcquiredDt>2016-01</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2016-12</SoldDt>
        <GrossSalesPriceAmt>245713</GrossSalesPriceAmt>
        <BasisAmt>244059</BasisAmt>
        <TotalNetAmt>1654</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>MORGAN STANLEY</AssetDesc>
        <AcquiredDt>2016-01</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2016-12</SoldDt>
        <GrossSalesPriceAmt>658216</GrossSalesPriceAmt>
        <BasisAmt>639956</BasisAmt>
        <TotalNetAmt>18260</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>MORGAN STANLEY</AssetDesc>
        <AcquiredDt>2016-01</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2016-12</SoldDt>
        <GrossSalesPriceAmt>277737</GrossSalesPriceAmt>
        <BasisAmt>275225</BasisAmt>
        <TotalNetAmt>2512</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>NATIONAL FINANCIAL SVC</AssetDesc>
        <AcquiredDt>2016-01</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2016-12</SoldDt>
        <GrossSalesPriceAmt>24033</GrossSalesPriceAmt>
        <BasisAmt>24299</BasisAmt>
        <TotalNetAmt>-266</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
    </GainLossSaleOtherAssetsSch>
    <InvestmentsCorpStockSchedule documentId="RetDoc6">
      <InvestmentsCorporateStockGrp>
        <StockNm>STIFEL NICOLAUS INVESTMENT ACCT</StockNm>
        <EOYBookValueAmt>2104097</EOYBookValueAmt>
        <EOYFMVAmt>2080887</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>MORGAN STANLEY INVESTMENT ACCT</StockNm>
        <EOYBookValueAmt>1273039</EOYBookValueAmt>
        <EOYFMVAmt>1310205</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>FIDELITY</StockNm>
        <EOYBookValueAmt>501486</EOYBookValueAmt>
        <EOYFMVAmt>514666</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc7">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>BIENVILLE BRAZIL OPP FD</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>517813</BookValueAmt>
        <EOYFMVAmt>517813</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>CORTLAND PARTNERS FD III, LLC</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>310219</BookValueAmt>
        <EOYFMVAmt>310219</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>QUINTESSENTIAL BIOSCIENCES, LLC</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>750000</BookValueAmt>
        <EOYFMVAmt>750000</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LandEtcSchedule2 documentId="RetDoc8">
      <LandEtcGrp>
        <CategoryOrItemTxt>BUILDINGS</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>2065713</CostOrOtherBasisAmt>
        <BookValueAmt>2065713</BookValueAmt>
        <EOYFMVAmt>2065713</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>FURNITURE/FIXTURES</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>220402</CostOrOtherBasisAmt>
        <BookValueAmt>220402</BookValueAmt>
        <EOYFMVAmt>220402</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CostOrOtherBasisAmt>1451745</CostOrOtherBasisAmt>
        <BookValueAmt>1451745</BookValueAmt>
        <EOYFMVAmt>1451745</EOYFMVAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <OtherExpensesSchedule documentId="RetDoc9">
      <OtherExpensesScheduleGrp>
        <Desc>RESIDENTIAL</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PEST CONTROL</Desc>
        <RevenueAndExpensesPerBooksAmt>350</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>350</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>5237</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>5237</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE - GENERAL</Desc>
        <RevenueAndExpensesPerBooksAmt>15717</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PAYROLL SERVICE</Desc>
        <RevenueAndExpensesPerBooksAmt>624</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MISCELLANEOUS</Desc>
        <RevenueAndExpensesPerBooksAmt>590</RevenueAndExpensesPerBooksAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE - LIFE</Desc>
        <RevenueAndExpensesPerBooksAmt>70524</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>70524</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT MANAGEMENT FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>13033</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>13033</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>K-1 LOSSES</Desc>
        <RevenueAndExpensesPerBooksAmt>5301</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>5301</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc10">
      <OtherIncomeDetail>
        <Desc>PARTNERSHIP DISTRIBUTIONS</Desc>
        <RevenueAndExpensesPerBooksAmt>1856</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1856</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherNotesLoansRcvblShortSch2 documentId="RetDoc11">
      <OtherNotesLoansRcvblShortGrp>
        <Organization501c3Name>
          <BusinessNameLine1Txt>JH RANCH</BusinessNameLine1Txt>
        </Organization501c3Name>
        <BalanceDueAmt>811335</BalanceDueAmt>
      </OtherNotesLoansRcvblShortGrp>
      <OtherNotesLoansRcvblShortGrp>
        <Organization501c3Name>
          <BusinessNameLine1Txt>EXECUTIVE AVIATION GROUP</BusinessNameLine1Txt>
        </Organization501c3Name>
        <BalanceDueAmt>240976</BalanceDueAmt>
      </OtherNotesLoansRcvblShortGrp>
    </OtherNotesLoansRcvblShortSch2>
    <TaxesSchedule documentId="RetDoc12">
      <TaxesDetail>
        <CategoryTxt>EXCISE TAX</CategoryTxt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>PROPERTY TAXES</CategoryTxt>
        <Amt>8600</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES ON DIVIDEND INCOME</CategoryTxt>
        <Amt>2520</Amt>
        <NetInvestmentIncomeAmt>2520</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>