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

Mar 24, 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 WEST INDIES TRUST (10% Owner)
Reporting Person: HOREJSI STEWART R (10% Owner)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	544847	Direct

Footnotes

F1: Received in exchange for 130,325 shares of Boulder Total Return Fund, Inc. (BTF) common stock and 56,608 shares of The Denali Fund Inc. (DNY) common stock pursuant to an Agreement and Plan of Reorganization between the Issuer the foregoing funds and an affiliated fund (the Merger). On March 20, 2015, the effective date of the Merger, shares of Issuer were exchanged for Shares of:

a. BTF at a conversion rate of 3.121182 Shares of Issuers common stock (net asset value $10.73 per share) for each share of BTFs common stock (net asset value $33.50 per share).

b. DNY at a conversion rate of 2.439214 Shares of Issuers common stock (net asset value $10.73 per share) for each share of DNYs common stock (net asset value $26.18 per share).

F2: The trustee of the Stewart West Indies Trust (the Trust) is Alaska Trust Company, which may be deemed to control the Trust. As a result of his advisory role with the Trust, Stewart R. Horejsi may be deemed to have indirect beneficial ownership of the Shares directly beneficially owned by the Trust. However, Mr. Horejsi disclaims such beneficial ownership of the Shares directly beneficially held by the 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 45,444,848 Shares of the Issuer after the reorganization of the Issuer on March 20, 2015.