Joel Walter Looney

Boulder Total Return Fund, Inc. is a diversified, closed-end management investment company. It seeks to invest in portfolio of equity and debt securities. The company was founded on February 19, 1993 and is headquartered in Boulder, CO.

Boulder Investment Advisers LLC is a mutual fund manager and registered investment advisor located in Boulder, Colorado.

The Denali Fund, Inc. is a non-diversified, closed-end management investment company. It produces both income and long-term capital appreciation by investing in a portfolio of equity and fixed income securities. The fund principal investment objective is total return consistent with dependable, but not assured, cash flow. It invests in a portfolio of reasonably priced companies with sound fundamentals and long-term growth expectations. Denali Fund was founded on September 11, 2002 and is headquartered in Boulder, CO.

Fund Administrative Services LLC provides investment advisory services. The company is headquartered in Boulder, CO.

Rocky Mountain Advisers LLC (RMA) is an independent, SEC-registered investment advisor headquartered in Salina, Kansas. The firm was founded by Stewart R. Horejsi in 2008. RMA provides advisory or sub-advisory services to individuals, high net-worth individuals, investment companies (including mutual funds), pension and profit-sharing plans (other than plan participants), pooled investment vehicles, charitable organizations, and corporations or other businesses.

First Opportunity Fund, Inc. is a closed-end management investment company. The Fund is non-diversified and its primary investment objective is total return. Its assets are invested primarily in equity securities issued by financial services companies. The company was founded on March 3, 1986 and is headquartered in Boulder, CO.