Alpine Securities USVI

Alpine Securities USVI as of Dec. 31, 2009

Portfolio Holdings for Alpine Securities USVI

Alpine Securities USVI holds 0 positions in its portfolio as reported in the December 2009 quarterly 13F filing

                VALUE              SH/  PUT/INVESTMENT  OTHER   VOTING AUTHORITY
        NAME OF ISSUER          TITLE OF CLASS  CUSIP/SEDOL ($000's)   AMOUNT   PRN  CALLDISCRETION  MANAGER  SOLE SHARED NONE
----------------------------------------------------------  --------  --------------------------------------------------------
             {S}                      {C}           {C}        {C}      {C}     {C}  {C}     {C}       {C}    {C}    {C}   {C}

AEGON N V                       NY REGISTRY SH   007924103     96      15000    SH          SOLE             15000
DRYSHIPS INC                          SHS        Y2109Q101    2037     350000   SH          SOLE             350000
GERON CORP                            COM        374163103     694     125000   SH          SOLE             125000
ING GROEP N V                    SPONSORED ADR   456837103     438     44237    SH          SOLE             44237