The No-Load Fund Advisor Master XAU Long Trades

As of 12/2006

Symbol	Action	EntryDate	EntryPrice	ExitDate	ExitPrice	%Gain
xau	long	11/24/2006	141.6	12/11/2006	144.96	2.4
xau	long	10/10/2006	124.82	11/16/2006	132.94	6.5
xau	long	10/2/2006	129.18	10/3/2006	120.62	-6.6
xau	long	9/1/2006	147.5	9/8/2006	140.82	-4.5
xau	long	8/22/2006	148.26	8/29/2006	144	-2.9
xau	long	8/1/2006	145.38	8/14/2006	139.72	-3.9
xau	long	6/21/2006	132.44	7/18/2006	138.5	4.6
xau	long	3/27/2006	137.26	5/12/2006	159.42	16.1
xau	long	1/26/2006	146	2/7/2006	141.06	-3.4
xau	long	12/28/2005	127.44	1/20/2006	140.14	10
xau	long	12/6/2005	119.7	12/15/2005	120.84	1
xau	long	11/11/2005	111.3	12/5/2005	116.44	4.6
xau	long	9/8/2005	100.04	10/4/2005	110.22	10.2
xau	long	8/3/2005	95.94	8/19/2005	96.22	0.3
xau	long	5/23/2005	81.96	7/6/2005	91.77	12
xau	long	5/9/2005	85.96	5/12/2005	80.33	-6.5
xau	long	2/10/2005	93.15	3/21/2005	97.79	5
xau	long	2/2/2005	92.34	2/7/2005	88.59	-4.1
xau	long	11/5/2004	106.86	11/24/2004	107.21	0.3
xau	long	10/25/2004	105.98	11/1/2004	101.95	-3.8
xau	long	9/23/2004	96.07	10/13/2004	97.77	1.8
xau	long	8/13/2004	87.84	9/7/2004	92.15	4.9
xau	long	8/3/2004	87.45	8/5/2004	84.25	-3.7
xau	long	6/18/2004	85.99	7/20/2004	87.78	2.1
xau	long	5/14/2004	81.21	6/10/2004	83.83	3.2
xau	long	3/18/2004	101.09	4/8/2004	101.62	0.5
xau	long	3/9/2004	100.98	3/12/2004	98.53	-2.4
xau	long	2/27/2004	99.8	3/3/2004	97.8	-2
xau	long	2/6/2004	100.9	2/23/2004	96.58	-4.3
xau	long	1/2/2004	109.48	1/12/2004	108.71	-0.7
xau	long	11/12/2003	101.86	12/9/2003	107.83	5.9
xau	long	10/21/2003	96.65	11/5/2003	96.8	0.2
xau	long	10/16/2003	94.03	10/20/2003	92.12	-2
xau	long	9/22/2003	96.63	9/26/2003	89.66	-7.2
xau	long	8/29/2003	91.38	9/15/2003	91.95	0.6
xau	long	7/23/2003	81.46	8/25/2003	85.83	5.4
xau	long	6/4/2003	75.1	6/24/2003	76.39	1.7
xau	long	5/5/2003	68.92	5/30/2003	73.46	6.6
xau	long	3/28/2003	66.74	4/29/2003	64.36	-3.6
xau	long	1/24/2003	82.2	1/29/2003	77.5	-5.7
xau	long	12/4/2002	68.03	1/7/2003	75.42	10.9
xau	long	10/24/2002	62.2	11/20/2002	65.2	4.8
xau	long	8/6/2002	62.13	9/25/2002	72.35	16.4
xau	long	7/10/2002	78.27	7/16/2002	71.88	-8.2
xau	long	5/20/2002	83.18	5/31/2002	84.24	1.3
xau	long	4/17/2002	72.32	5/15/2002	75.74	4.7
xau	long	3/20/2002	65.67	4/8/2002	67.84	3.3
xau	long	1/29/2002	60.35	2/19/2002	63.95	6
xau	long	1/3/2002	55.71	1/23/2002	57.59	3.4
xau	long	11/30/2001	52.57	12/28/2001	53.56	1.9
xau	long	10/30/2001	54.52	11/14/2001	52.93	-2.9
xau	long	10/1/2001	58.75	10/4/2001	56.51	-3.8
xau	long	9/19/2001	57.73	9/25/2001	55.67	-3.6
xau	long	8/9/2001	55.93	8/31/2001	56.56	1.1
xau	long	7/12/2001	54.36	7/31/2001	53.06	-2.4
xau	long	4/6/2001	50.41	5/24/2001	59.33	17.7
xau	long	2/22/2001	48.41	3/15/2001	50.51	4.3
xau	long	10/30/2000	44.67	1/2/2001	51.78	15.9
xau	long	8/10/2000	50.67	9/15/2000	51.21	1.1
xau	long	8/2/2000	52.04	8/3/2000	49.59	-4.7
xau	long	6/2/2000	59.27	6/19/2000	58.38	-1.5
xau	long	4/14/2000	57.75	5/18/2000	56.57	-2
xau	long	4/5/2000	58.84	4/10/2000	56.52	-3.9
xau	long	3/23/2000	59.69	3/28/2000	58.32	-2.3
xau	long	2/4/2000	68.25	2/24/2000	61.93	-9.3
xau	long	12/16/1999	66.23	1/7/2000	65.43	-1.2
xau	long	11/24/1999	72.55	12/1/1999	66.2	-8.8
xau	long	11/10/1999	73.21	11/18/1999	68.37	-6.6
xau	long	9/22/1999	69.34	10/11/1999	80.17	15.6
xau	long	7/27/1999	61.36	8/20/1999	67.51	10
xau	long	6/25/1999	63.2	7/9/1999	62.66	-0.9
xau	long	4/12/1999	61.3	5/10/1999	67.34	9.9
xau	long	3/4/1999	62.42	3/26/1999	60.76	-2.7
xau	long	2/4/1999	67.74	2/10/1999	63.75	-5.9
xau	long	12/31/1998	64.97	1/25/1999	65.91	1.4
xau	long	11/5/1998	83.06	11/16/1998	75.28	-9.4
xau	long	9/4/1998	64.69	10/13/1998	73.59	13.8
xau	long	8/19/1998	61.81	8/26/1998	57.68	-6.7
xau	long	6/30/1998	71.72	7/27/1998	65.08	-9.3
xau	long	4/22/1998	92.88	4/28/1998	88.34	-4.9
xau	long	3/26/1998	80.94	4/16/1998	85.48	5.6
xau	long	3/4/1998	73.99	3/17/1998	72.8	-1.6
xau	long	1/15/1998	69.69	2/17/1998	73.39	5.3
xau	long	12/10/1997	67.63	1/8/1998	65.79	-2.7
xau	long	9/24/1997	98.1	10/15/1997	104.68	6.7
xau	long	7/18/1997	97.08	8/27/1997	99.13	2.1
xau	long	6/11/1997	103.88	6/18/1997	99.32	-4.4
xau	long	5/1/1997	95.67	6/3/1997	100.02	4.5
xau	long	2/12/1997	112.21	3/6/1997	115.74	3.1
xau	long	1/29/1997	113.92	2/6/1997	108.13	-5.1
xau	long	12/10/1996	123.91	12/12/1996	119.36	-3.7
xau	long	11/11/1996	120.91	11/25/1996	117.88	-2.5
xau	long	10/23/1996	119.25	11/6/1996	113.44	-4.9
xau	long	10/10/1996	119.38	10/18/1996	114	-4.5
xau	long	7/31/1996	124.35	9/5/1996	125.41	0.9
xau	long	7/3/1996	125.42	7/16/1996	119.05	-5.1
xau	long	5/7/1996	148.78	5/20/1996	142.4	-4.3
xau	long	3/25/1996	142.62	4/16/1996	141.84	-0.5
xau	long	1/3/1996	129.55	2/9/1996	143.07	10.4
xau	long	11/6/1995	114.34	12/14/1995	120.14	5.1
xau	long	9/7/1995	126.38	9/19/1995	124.1	-1.8
xau	long	8/15/1995	126.32	8/30/1995	121.55	-3.8
xau	long	7/11/1995	129.01	7/20/1995	123.33	-4.4
xau	long	5/23/1995	116.51	6/27/1995	123.77	6.2
xau	long	3/7/1995	112.54	4/11/1995	119.35	6.1
xau	long	2/9/1995	101.85	3/3/1995	100.41	-1.4
xau	long	1/11/1995	107.86	1/25/1995	102.65	-4.8
xau	long	12/7/1994	105.02	1/5/1995	101.25	-3.6