____Mohican Financial Management, LLC_______

Mohican Financial Management as of Sept. 30, 2013

Portfolio Holdings for Mohican Financial Management

Mohican Financial Management holds 55 positions in its portfolio as reported in the September 2013 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
United Rentals Inc note 4.000%11/1 7.0 $31M 5.9M 5.23
Viropharma Inc note 2.000% 3/1 5.0 $22M 10M 2.14
Priceline Com Inc note 1.250% 3/1 3.9 $17M 5.2M 3.32
Enersys note 3.375% 6/0 3.5 $16M 10M 1.55
Equinix Inc note 3.000%10/1 3.4 $15M 9.0M 1.67
Akorn Inc note 3.500% 6/0 3.0 $13M 5.8M 2.30
Airtran Hldgs Inc note 5.250%11/0 3.0 $13M 8.9M 1.49
Molina Healthcare Inc note 3.750%10/0 2.8 $12M 10M 1.22
Mentor Graphics 4% 2031 conv 2.7 $12M 9.0M 1.31
CUBIST PHARM CONVERTIBLE security 2.6 $11M 5.0M 2.25
Gt Advanced Technologies Inc conv 2.5 $11M 8.6M 1.30
Altra Holdings, Inc note 2.750% 3/0 2.4 $11M 9.0M 1.19
Photronics Inc note 2.4 $11M 9.7M 1.10
Accuray Inc Del note 3.750% 8/0 2.1 $9.2M 8.8M 1.05
Caci Intl Inc note 2.125% 5/0 2.1 $9.2M 7.2M 1.27
Comtech Telecommunications Cor conv 2.1 $9.2M 9.0M 1.02
Horsehead Hldg Corp note 3.800% 7/0 2.1 $9.1M 8.4M 1.08
Regis Corp Minn note 5.000% 7/1 2.0 $8.8M 8.0M 1.10
Teleflex Inc note 3.875% 8/0 1.9 $8.5M 6.0M 1.41
Rti Intl Metals Inc note 1.625%10/1 1.9 $8.3M 8.0M 1.04
Covanta Holding Conv conv bnd 1.9 $8.3M 6.0M 1.38
Cadence Design Sys Cvt 2.625 6 convert 1.9 $8.1M 4.5M 1.82
Forestar Group Inc note 1.9 $8.1M 7.0M 1.16
Navistar Intl Corp New note 3.000%10/1 1.8 $8.1M 8.0M 1.01
Endo Pharmaceuticals Hldgs I note 1.750% 4/1 1.8 $7.9M 5.0M 1.58
Standard Pacific Corp cnv 1.7 $7.4M 6.0M 1.23
Encore Capital Group note 3.000%11/2 1.6 $7.0M 4.5M 1.55
Array Biopharma Inc note 3.000% 6/0 1.6 $6.9M 6.0M 1.15
Take-two Interactive Softwar note 1.000% 7/0 1.5 $6.6M 6.0M 1.10
Chemed Corp New note 1.875% 5/1 1.4 $6.3M 6.0M 1.05
M/i Homes Inc note 3.250% 9/1 1.4 $6.3M 5.5M 1.15
Webmd Health Corp note 1.4 $6.1M 6.2M 0.98
Titan Machy Inc note 3.750% 5/0 1.4 $6.0M 6.7M 0.89
ProShares UltraShort 7-10 Year Trea (PST) 1.3 $5.8M 20M 0.29
Green Plains Renewable E note 1.3 $5.8M 4.5M 1.29
Photronics Inc note 5.500%10/0 1.3 $5.6M 3.5M 1.63
Volcano Corporation note 1.750%12/0 1.2 $5.2M 5.0M 1.03
Trak 1 1/2 03/15/17 1.2 $5.2M 4.0M 1.29
Steel Dynamics Inc note 5.125% 6/1 1.1 $4.9M 4.5M 1.09
Home Inns & Hotels Mgmt Inc note 2.000%12/1 1.1 $4.9M 5.2M 0.94
Aar Corp 2.25% conv 1.1 $4.8M 4.6M 1.03
Thrx 2 1/8 01/15/23 1.1 $4.7M 2.9M 1.63
Lkd Barclays Bk Plc Ipath S&p Etn etf 1.1 $4.7M 25M 0.19
Interdigital Inc 2.5% conv 1.1 $4.7M 4.5M 1.05
Web Com Group Inc note 1.000% 8/1 1.0 $4.6M 4.0M 1.14
Insulet Corporation Cvt 3.75 0 convert 1.0 $4.4M 3.0M 1.45
Cobalt Intl Energy Inc note 1.0 $4.2M 4.0M 1.06
Volcano Corporation note 2.875% 9/0 0.8 $3.6M 3.4M 1.08
Tesla Mtrs Inc note 1.500% 6/0 0.8 $3.4M 2.0M 1.68
Wabash National Corp 3.375 '18 conv 0.6 $2.6M 2.0M 1.31
Bristow Group Inc note 3.000% 6/1 0.5 $2.3M 1.9M 1.22
On Semiconductor Corp note 2.625%12/1 0.5 $2.2M 2.0M 1.08
Ascent Cap Group Inc note 4.000% 7/1 0.5 $2.1M 2.0M 1.05
Jakks Pac Inc note 4.500%11/0 0.5 $2.1M 2.2M 0.92
Genco Shipping & Trading Ltd note 5.000% 8/1 0.2 $920k 2.0M 0.46