SRH Total Return Fund, Inc. — Director's Dealing 2015

Mar 31, 2015

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: BOULDER GROWTH & INCOME FUND (BIF)
CIK: 0000102426
Period of Report: 2015-03-20

Reporting Person: Stewart R. Horejsi Trust No. 2 (10% Owner)
Reporting Person: HOREJSI STEWART R (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2411987	Direct

Footnotes

F1: Received in exchange for 2,169,602 shares of First Opportunity Fund, Inc. (FOFI) common stock pursuant to an Agreement and Plan of Reorganization between the Issuer, FOFI and affiliated funds (the Merger). On March 20, 2015, the effective date of the Merger, Shares of FOFI were exchanged for shares of Issuer at a conversion rate of 1.111719 Shares of Issuers common stock (net asset value $10.73 per share) for each share of FOFIs common stock (net asset value $11.93 per share).

F2: The trustees of the Stewart R. Horejsi Trust No. 2 (the "Stewart Trust") are Alaska Trust Company ("Alaska Trust"), Laura Tatooles and Brian Sippy. Such trustees may be deemed to control the Stewart Trust and may be deemed to possess indirect beneficial ownership of the Shares held by the Stewart Trust. However, none of the trustees, acting alone, can vote or exercise dispositive authority over Shares held by the Stewart Trust. Accordingly, Alaska Trust, Ms. Tatooles and Mr. Sippy disclaim beneficial ownership of the Shares beneficially owned, directly or indirectly, by the Stewart Trust. As a result of his advisory role with the Stewart Trust, Stewart R. Horejsi may be deemed to have indirect beneficial ownership of the Shares directly beneficially owned by the Stewart Trust. However, Mr. Horejsi disclaims such beneficial ownership of the Shares directly beneficially held by the Stewart Trust.

F3: Trusts, persons and entities affiliated with the reporting person(s), including Evergreen Atlantic, LLC, Lola Brown Trust No. 1B, Ernest Horejsi Trust No. 1B, Mildred B. Horejsi Trust, Stewart West Indies Trust, Stewart R. Horejsi Trust No. 2 and the Susan L. Ciciora Trust, will own an aggregate of 45,444,843 Shares of the Issuer after the reorganization of the Issuer on March 20, 2015.