SRH Total Return Fund, Inc. — Director's Dealing 2020

May 11, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BOULDER GROWTH & INCOME FUND (BIF)
CIK: 0000102426
Period of Report: 2020-05-05

Reporting Person: LBT 2019 Trust (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-05	COMMON STOCK	S	3571918	$9.26	Disposed	0	Direct

Footnotes

F1: On May 5, 2020, the Reporting Person (also referred to as the "2019 Trust") distributed the following shares (the "Shares") of Boulder Growth & Income Fund, Inc. (the "Company") to the following affiliated trusts: 791,887 Shares to the John X. Ciciora Trust; 926,677 Shares to the Jack S. Ciciora Trust; 926,677 to the Amanda N. Ciciora Trust; and 926,677 Shares to the Courtney M. Ciciora Trust (together, the "Recipient Trusts"). The Reporting Person distributed the Shares pursuant to a general power of appointment granted to John X. Ciciora, Jack S. Ciciora, Amanda N. Ciciora and Courtney M. Ciciora (each, a "Beneficiary") in its governing trust instrument. Under the terms of the 2019 Trust, each Beneficiary has the right to appoint their respectively allocated Shares in their discretion and each Beneficiary has directed the 2019 Trust's trustee to transfer their allocated Shares to the Recipient Trust associated with their name as set forth above.

F2: The trustee of the 2019 Trust is Peak Trust Company-AK, which may be deemed to control the 2019 Trust. As a result of being a beneficiary under the 2019 Trust and his advisory role with the 2019 Trust, Stewart R. Horejsi may be deemed to have indirect beneficial ownership of the Shares directly beneficially owned by the 2019 Trust. However, Mr. Horejsi disclaims such beneficial ownership of the shares directly beneficially held by the 2019 Trust.

F3: The 2019 Trust and trusts, persons and entities affiliated with the 2019 Trust, including Lola Brown Trust No. 1B, Ernest Horejsi Trust No. 1B, Mildred B. Horejsi Trust, Stewart R. Horejsi Trust No. 2, Stewart West Indies Trust, Susan L. Ciciora Trust, John S. Horejsi Trust, John X. Ciciora Trust, Jack S. Ciciora Trust, Amanda N. Ciciora Trust, Courtney M. Ciciora Trust and Susan L. Ciciora own an aggregate of 45,384,254 shares of the Company.