F O R E M O S T C A P I TA LM A N A G E M E N T

March 2020 Performance - CTAs Ranked by Monthly RetumPerformance Results reported or amended subsequent to Monday April 13, 2020 are not reflected In this Report

Click on column headings to sort | Note that Annual Compound ROR and Worst Drawdown are from Inception

R a n k

1

2

3

4

5

6

7

8

9

1 0

1 1

1 2

1 3

1 4

1 5

1 6

1 7

1 8

1 9

2 0

2 1

2 2

2 3

2 4

2 5

2 6

2 7

2 8

2 9

3 0

3 1

3 2

3 3

3 4

3 5

3 6

3 7

3 8

3 9

4 0

4 1

4 2

4 3

Manager

Purple Valley - Div. Trend 1

Tomas Capital - GCAF | USD

Covenant Capital Mgt - Total Volatility Program

Mulvaney Capital - MF Prg

Sandpiper - Global Macro

AG Capital - Glotjal Macro

SinoPacAM - SInoPacAM-SQMF

W a v e P r o n t - G l o b a l I n v e s t m e n t

GT Capital CTA - Systematic Day Trading

D r e i s s R e s e a r c h - D i v e r s i fi e d

Covenant Capital Mgt - Tactical Growth

Claughton Capital - Institutional

GT Capital CTA - Dynamic Trading

Cayler Capital LLC - Systematic Energy Diversified

EMC Capital Advisors - Classic

Anderson Creek Trading - Standard Diversified

Red Rock Cap. - Commodity L/S

Orion Capital Advisors, Inc. - Beta Opportunity

(Client)

Quality Capital Management Ltd - GDP

Dem^er Cap. - Livestock & Grain

Auspice Capital Advisors - Diversified

laguar Inv. - Aegir Strategy

Aids Prts (Jersey) Ltd - PureTrend Portfolio

Quest Partners LLC - AQO

Carbide Capital Inc - Hedge Prg

Revolution Capitai Mgt - Alpha Prg

DUNN Capital - WMA

Breakout Funds Managed Program • ManagedProgram

Auspice Capitai Advisors - MF Index

Pearl Capital Advisors - Peari Hedged VIX

Deep Reld Capital AG - Systematic Volatility Arb

SpreadEdge Capital, LLC - Diversified SeasonalSpread

Spring Valley Asset Mgt - SVAM Tactical Trend

Dynamica Global Inv - Energy

Adalpha Asset Mgt - Div. S-Term

Global Sigma Group - Equity Advantage II

Red Rock Cap. - Sys. Global Macro

DUNN Capital - WMA Institutional

John Locke - C. Systematic UCITS

Plus EV Capital - Raise Alpha

Pak Capital LLC - Currency Prg

O'Brien Investment Group - Quantitative GMF u t u r e s

SpreadEdge Capital, LLC - Ag Seasonal Spread

I n v e s t m e n t Monthly YTo Return1 2

R e s t r i c t i o n s R e t u m R e t u m

5 6 . 3 5 % 8 2 . 1 8 % 9 0 . 9 2 %

QEPs Only 3 7 . 7 8 % 6 5 . 3 3 % 3 9 , 3 2 %

3 2 . 1 2 % 2 7 . 7 0 % 3 7 . 5 5 %

QEPs Only 3 1 . 1 6 % 1 5 . 1 9 % 5 . 2 3 %

QEPs Only 2 3 . 2 1 % 9 . 2 6 % - 1 3 . 6 2 %

2 2 . 6 5 % 3 2 . 6 7 % 3 7 . 1 5 %

QEPs Only 2 2 . 5 2 % 3 0 . 5 5 % 3 0 , 1 5 %

QEPs Only 2 0 . 7 8 % 2 7 . 4 0 % 2 3 . 9 9 %

1 9 . 9 8 % 2 1 . 3 9 % 2 8 . 5 7 %

QEPs Only 1 8 . 0 9 % 4 . 7 3 % 4 1 . 4 7 %

1 7 . 4 7 % 1 6 . 4 6 % 1 8 . 8 8 %

QEPs Only 1 6 . 8 4 % 3 3 . 1 4 % 4 9 . 5 0 %

1 5 . 0 5 % 1 1 . 1 0 % 1 2 . 0 0 %

QEPs Only 1 4 . 9 4 % 1 8 . 7 2 % 2 9 . 6 3 %

QEPs Only 1 4 . 6 3 % 1 6 . 9 0 % 3 1 . 3 9 %

1 4 . 4 3 % 2 1 . 5 5 % 7 . 2 3 %

1 3 . 1 6 % 2 5 . 1 5 % 3 0 . 7 3 %

1 1 . 2 9 % 3 7 . 2 0 % 2 . 3 3 %

QEPs Only 1 0 . 8 0 % 2 5 . 5 0 % 3 5 . 3 7 %

QEPs Only 1 0 . 5 7 % 1 0 . 8 0 % - 3 . 4 6 %

QEPs Only 9 . 7 2 % 7 . 2 6 % 5 . 5 2 %

QEPs Only 9 . 1 3 % 1 0 . 7 9 % 1 8 . 1 1 %

QEPs Only 9 . 0 7 % 1 3 . 0 2 % 1 0 . 2 1 %

QEPs Only 8 . 8 1 % 1 7 . 5 2 % 3 4 . 1 1 %

8 . 6 9 % 9 . 1 5 % 7 . 2 6 %

QEPs Only 8 . 5 9 % 2 3 . 6 4 % 4 0 , 9 7 %

QEPs Only 7 . 7 9 % 1 . 7 5 % 9 , 3 7 %

QEPs Only 7 . 6 7 % 1 2 . 9 5 % 2 2 , 3 6 %

QEPs Only 7 . 4 4 % 3 . 7 1 % - 2 . 7 7 %

QEPs Only 7 . 3 4 % 3 . 6 4 % 0 . 9 3 %

QEPs Only 7 . 0 9 % 1 1 . 6 5 % 1 6 . 6 3 %

7 . 0 2 % 1 4 . 1 0 % 1 2 , 3 8 %

QEPs Only 5 . 9 4 % 4 . 6 0 % 1 0 . 7 6 %

QEPs Only 5 . 3 3 % 2 . 2 3 % 3 . 1 6 %

QEPs Only 4 . 9 2 % 7 . 5 3 % 1 7 , 4 5 %

QEPs Only 4 . 8 9 % 1 . 1 5 % 2 . 0 2 %

4 . 1 5 % • 6 . 5 5 % 7 . 9 1 %

QEPs Only 3 . 8 2 % 1 . 2 0 % 5 , 1 1 %

QEPs Only 3 . 5 1 % 9 . 1 0 % 2 5 , 6 3 %

3 . 4 6 % 8 . 1 1 % - 5 . 4 8 %

QEPs Only 2 . 2 5 % 2 . 1 1 % 3 . 4 6 %

QEPs Only 1 . 4 9 % 1 . 7 2 % 5 . 9 9 %

1 . 2 8 % 5 . 6 6 % 4 . 7 3 %

C u r r e n t

- 3 8 . 5 5 %

- 3 8 . 3 9 %

- 2 7 . 9 6 %

- 2 0 . 1 5 %

- 2 5 . 2 5 %

- 9 . 1 0 %

- 3 3 . 7 1 %

- 6 . 3 6 %

- 2 6 . 7 0 %

- 7 . 6 2 %

- 7 . 0 2 %

A s s ^ s

(Mil l ions)

$2 ,800

$0,781

$8,203

M i n i m u mI n v e s t m e n t

$1,000,000

$1,500,000

$100,000

$120,000 $10 ,000 ,000

$ 1 2 , 0 0 0 $ 1 , 0 0 0 , 0 0 0

$500,000

$5,000,000

$2,000,000

$30,000

$750,000

$100,000

$1,000,000

$150,000

$29,700

$38,970

$ 9 , 1 5 8

$1 ,081

$0,959

$1,500

$10,400

$0,157

$1,500

$23,150

$0,445

$ 5 , 4 4 1

$125,000

$5,000,000

$250,000

$500,000

A n n u a lCompound

R O R

9 . 6 3 %

2 , 5 8 %

2 8 . 5 9 %

1 0 . 9 5 %

3 . 8 0 %

2 5 . 3 9 %

9 . 8 1 %

4 . 9 5 %

4 . 3 0 %

1 4 . 9 3 %

1 3 . 6 6 %

6 . 7 4 %

- 0 . 3 1 %

2 1 . 0 7 %

1 7 . 1 4 %

- 2 . 9 7 %

9 . 5 4 %

$ 0 , 6 7 4 $ 1 0 0 , 0 0 0

- 2 1 . 8 8 % $ 1 7 , 0 0 0 $ 5 0 0 , 0 0 0

- 4 . 5 2 % $ 9 , 3 5 0 $ 5 0 , 0 0 0

- 1 6 . 8 2 % $ 1 0 , 3 5 5 $ 2 , 0 0 0 , 0 0 0

$ 11 , 1 9 0 $ 1 , 0 0 0 , 0 0 0

- 2 . 9 1 % $ 0 , 2 6 9 $ 2 0 , 0 0 0 , 0 0 0

-1 .14% $1 ,523 ,000 $20 ,000 ,000

$ 0 , 3 0 0 $ 1 , 0 0 0 , 0 0 0

$ 2 3 4 , 0 0 0 $ 5 , 0 0 0 , 0 0 0

- 1 4 . 0 2 % $ 5 11 , 0 0 0 $ 1 0 , 0 0 0 , 0 0 0

$ 5 6 , 1 4 1 $ 1 , 0 0 0 , 0 0 0

- 1 5 . 2 2 %

- 1 0 . 1 3 %

C$2,589 C$1,000,000

$ 1 5 , 3 0 0 $ 5 0 0 , 0 0 0

$500,000$23,000

$1,959

- 1 4 . 8 8 %

- 6 . 1 5 %

- 5 . 4 8 %

- 1 . 0 2 %

- 0 . 8 9 %

$1,000,000

$500,000

$1,000,000

$1,000,000

$500,000

$412,000 $25 ,000 ,000

C 3 0 . 0 0 0 C 8 , 0 0 0 , 0 0 0

$100,000

$200,000

$15,300

$25,055

$21,755

$12,651

$4,437

$2,529

$2,406

W o r s tD r a w d o w n

- 6 9 , 7 4 %

- 6 5 . 8 2 %

- 1 3 , 8 4 %

- 4 5 . 0 8 %

- 3 5 . 1 9 %

- 2 5 . 2 6 %

- 1 4 . 6 8 %

- 4 2 . 6 8 %

- 2 4 . 1 3 %

- 5 1 . 4 4 %

- 1 1 . 5 1 %

- 2 5 . 5 5 %

- 4 4 . 3 3 %

- 7 . 5 9 %

- 4 5 . 1 3 %

- 4 0 . 6 6 %

- 3 0 . 0 9 %

1 . 3 5 % - 3 2 . 2 3 %

8 . 4 4 %

8 . 2 7 %

1 . 0 9 %

1 3 . 3 3 %

1 . 9 5 %

9 . 3 9 %

0 . 5 6 %

7 . 9 2 %

1 2 . 8 6 %

- 5 3 . 5 5 %

- 2 0 . 9 2 %

- 2 6 . 0 5 %

- 6 . 3 2 %

- 1 7 . 0 1 %

- 2 9 . 4 0 %

- 6 . 5 3 %

- 2 0 . 9 2 %

- 6 0 . 2 6 %

1 3 . 6 0 % - 5 . 0 7 %

1 . 0 5 %

7 . 2 7 %

1 4 . 1 0 %

- 2 3 . 3 3 %

- 1 6 . 4 6 %

• 1 2 . 2 7 %

$ 1 0 0 , 0 0 0 1 8 . 8 0 % - 4 4 . 0 2 %

$17,800

$ 0 , 2 1 4

$3,000,000

$100,000

2 . 9 0 %

8 . 3 4 %

9 . 2 4 %

4 . 4 2 %

6 . 9 6 %

4 . 3 9 %

7 . 1 4 %

4 7 . 3 2 %

0 . 8 7 %

1 , 8 3 %

2 7 , 2 9 %

- 1 7 , 5 7 %

- 1 1 . 6 1 %

- 1 3 . 4 2 %

- 4 , 2 3 %

- 2 4 , 6 3 %

- 1 5 , 1 7 %

- 2 0 , 7 6 %

- 1 8 , 8 8 %

- 4 , 7 1 %

- 9 . 8 4 %

- 2 0 . 6 9 %

R a n k M a n a g e r

44 Eckhardt Trading Co - Evolut ion

Deep i=ie!d Capital AG - IntradajDeep i=ie!d Capital AG - Intraday ConvexityCapture

4 6 H P X R n a n d a l - O l d S c h o o l

47 Davis Commodit ies - Ag Program

48 Blue Bar Trading - Commodity Diversified

49 Bocken Trading LLC - Discretionary

50 Bensboro Advisos LLC - Seasonal Spread

51 EMC Capital Advisors - Alpha

52 Blue Bar Trading - Blue Bar Ag

53 Ditsch Trading LLC - Discretionary

54 Deep Reld Capital AG - Intraday Crisis Alpha

55 QDRA Pty Ltd - Dynamic Macro

56 Trigon Invst Advisors - Disc. Macro

57 HiPnob Capital Mgt - HiProb-III

58 Eckhardt Trading Co - Evolution 1.2X

59 Pinst r ipe Trading - Standard

60 Wamngton Asset Mgt - Tact ical

61 2Pixels Capital Mgt - Index Option

62 Wharton Capital Mgt - Ag Futures63 Kinkopf Capital Mgt, LLC - S&P SELECT

64 Mobius Asset Mgt - X-Ceed

65 Evergreen Commodity - Disc. Energy

66 Double Helix Cap. - Double Helix

67 Soaring Pelican - Diversified S8iP

6 8 T h i r d S t r e e t A G - F u n d a m e n t a l A G

69 EMC Capital Advisors - Alpha Pius

70 Northem Capital Partners - Spread Program

71 Praus Capital Mgt - Quantiative Strategies I

72 M&R Capital LLC - Uvestock

73 Opus Futures, LLC - Advanced Ag

74 Gregory P. Asset Mgt - SSSiO

75 Caerus Group, LLC - Oil Futures Tracfing Prg

76 RTM Capital Advisors - RTM Core Indices Plus

7 7 F o r t L P - G l o b a l T r e n d

78 Auspice Capital Advisors - Cmdy Index

79 Diamond Capital - Enhanced S8iP

1512 SG Capital Mgt AG - St.Galien I Counter-T r e n d

81 Schindier Capital Mgt - Dairy Adv.

8 2 S o u t h w e s t M a n . I n v . - G l o b a l D i v .

83 Sigma Advanced Capital Mgt - GAFS

84 Fort LP - Contrarian Program

85 Camkay Capital - Crisis Alpha Intraday

86 Carbide Capital Inc - Absolute R^um

87 Turk Capital LLC - US Market Hedge Strategy

88 Lyons Trading Group - LATS (C)

89 Crescent Bay - Conservative Growth Index

90 EMC Capital Advisors - Balance Prg

91 Quant i tat ive Invest Mgt - Global

92 Aids Pits (Jersey) Ltd - Global Futures

9 3 F o r t L P - G l o b a l D i v e r s i fi e d

9 4 F o r t L P - G l o b a l F u t u r e s

95 Goldman Mgt - Stock Index

96 Turk Capital LLC - U.S. Equity Long Short

I n v e s t m e n tR e s t r i c t i o n s

QEPs Only

QEPs Only

QEPs Only

QEPs Only

QEPs Only

QEPs Only

QEPs Only

QEPs Only

QEPs Only

^ MonthlyR e t u r n

QEPs Only

QEPs Only

QEPs Only

QEPs Only

Y T D R e t u r n M o n t hR e t u m

9 . 5 3 % 4 . 0 2 %

2 . 4 4 % 6 . 6 3 %

3 . 1 3 % 4 . 1 1 %

4 . 9 9 % 1 2 . 4 7 %

1 . 9 2 % 2 . 2 8 %

- 0 . 0 5 % - 2 . 5 5 %

5 . 6 9 % 1 4 . 2 0 %

0 . 8 9 % 8 . 8 8 %

1 . 5 0 % 2 . 2 6 %

- 0 . 9 0 % - 9 . 7 9 %

9 . 3 0 % 3 . 5 6 %

1 8 . 2 0 % 1 1 . 7 5 %

- 1 . 1 7 % - 2 . 6 1 %

5 . 7 9 % 1 2 . 3 8 %

8 . 4 8 % 1 . 6 4 %

- 6 . 1 3 % - 4 . 7 8 %

- 0 . 0 0 % 3 . 2 1 %

- 3 2 . 6 0 % - 4 2 . 3 9 %

2 . 6 7 % 8 . 1 9 %

4 . 9 7 % 1 0 . 3 2 %

- 1 . 4 0 % - 7 . 8 1 %

- 9 . 6 3 % - 5 . 9 9 %

- 9 . 5 6 % - 6 . 2 1 %

- 2 . 4 1 % 1 . 8 4 %

C u r r e n tD r a w d o w n

A s s e t sUnder Mgt(Mill ions)

M i n i m u mI n v e s t m e n t

- 1 1 . 1 0 % - 1 1 . 2 7 %

4 . 1 7 % - 1 1 . 7 3 %

- 1 . 9 8 % - 2 . 6 0 %

- 1 8 . 0 6 % - 1 7 . 9 3 %

- 6 . 2 1 % - 6 . 5 1 %

3 . 8 5 % 6 . 4 6 %

- 1 0 . 8 7 % - 1 3 . 3 7 %

- 7 . 4 3 % - 8 . 3 6 %

$104,000 $20,000,000

$ 2 6 , 0 0 0 $ 5 0 0 , 0 0 0

- 1 . 2 6 %

- 0 . 1 6 %

- 4 8 . 1 5 %

- 8 . 1 7 %

- 1 6 . 8 9 %

- 6 . 7 2 %

- 1 6 . 8 1 %

- 0 . 0 0 %

- 6 8 . 4 0 %

- 5 . 0 9 %

- 6 . 2 8 %

- 3 0 . 1 3 %

- 1 1 . 8 6 %

- 9 . 5 6 %

- 7 . 3 1 %

- 2 . 2 4 %

- 4 . 1 9 %

- 1 . 4 5 %

- 1 . 9 7 %

- 1 4 . 3 5 %

- 2 2 . 5 1 %

- 1 2 . 1 7 %

- 2 1 . 8 3 %

- 8 . 4 2 %

- 6 . 0 5 %

- 4 2 . 9 9 %

- 1 2 . 4 1 %

$ 9 , 1 5 3 $ 2 0 0 , 0 0 0

$ 2 5 , 7 5 5 $ 2 5 0 , 0 0 0

$ 4 , 5 8 6 $ 1 0 0 , 0 0 0

$ 1 , 5 3 8 $ 1 0 0 , 0 0 0

$ 3 , 9 5 2 $ 5 0 0 , 0 0 0

$ 2 1 7 , 9 1 0 $ 5 , 0 0 0 , 0 0 0

$ 1 1 , 0 2 4 $ 1 0 0 , 0 0 0

$ 1 , 5 1 6 $ 1 0 0 , 0 0 0

$ 3 8 , 0 0 0 $ 5 0 0 , 0 0 0

$ 5 1 , 5 9 7 $ 5 , 0 0 0 , 0 0 0

$ 2 5 3 , 3 9 0 $ 5 , 0 0 0 , 0 0 0

$ 1 3 , 2 5 0 $ 1 , 0 0 0 , 0 0 0

$1,300 $20,000,000

$ 6 , 3 0 0 $ 1 2 5 , 0 0 0

$21,800

$0,025

$7,026

$0,054

$1,500

$16,878

$9,656

$16,200

$80,553

$7,670

$1,000

0 . 6 1 2

$52,446

$24,277

$2,214

$0,400

$2,830

$500,000

$25,000

$100,000

$25,000

$150,000

$100,000

$50,000

$100,000

$500,000

$5,000,000

$250,000

200,000

$100,000

$100,000

$50,000

$200,000

$500,000

$23,090 $10,000,000

C$53,322 C$1,000,000

$ 1 0 , 0 1 7 $ 1 0 0 , 0 0 0

A n n u a l . . .

Drawdow

1 1 . 7 1 % - 2 7 , 1 1 %

8 . 9 4 % - 1 , 2 8 %

3 9 . 4 1 % - 1 9 , 8 9 %

6 . 2 0 % - 2 9 , 7 2 %

2 4 . 0 5 % - 1 1 , 2 4 %

2 . 5 7 % - 3 2 , 4 6 %

5 . 7 2 % - 1 9 , 3 2 %

5 . 5 8 % - 1 0 , 6 9 %

3 7 . 7 1 % - 4 2 , 2 6 %

2 . 6 4 % - 4 9 , 3 4 %

1 0 . 0 3 % - 5 , 9 5 %

7 . 8 2 % - 3 6 , 8 9 %

0 . 8 1 % - 1 6 , 9 8 %

1 5 . 1 0 % - 2 , 1 7 %

1 5 . 3 3 % - 4 0 , 3 9 %

5 . 0 0 % - 1 7 , 3 9 %

7 . 2 6 % - 4 , 1 2 %

- 2 0 . 4 5 % - 6 8 , 4 0 %

8 . 3 6 % - 1 2 , 0 0 %

- 0 . 9 4 % - 2 1 , 8 7 %

- 4 . 6 4 % - 3 0 , 1 3 %

1 1 . 5 8 % - 1 1 , 8 6 %

4 . 4 9 % - 1 3 . 4 8 %

6 . 2 7 % - 1 0 , 9 7 %

2 . 2 1 % - 8 , 9 8 %

7 . 5 5 % - 1 5 , 5 6 %

9 . 2 5 % - 2 . 1 7 %

6 . 9 9 % - 7 , 7 6 %

1 7 . 7 6 % - 2 3 , 3 8 %

5 . 1 7 % - 5 0 , 6 2 %

9 . 9 1 % - 2 5 . 3 5 %

- 1 1 . 9 2 % - 2 1 , 8 3 %

4 . 5 9 % - 9 , 3 1 %

9 . 7 0 % - 1 6 , 4 0 %

- 2 . 6 9 % - 4 2 . 9 9 %

1 0 . 3 6 % - 1 2 . 6 5 %

QEPs Only - 3 , 4 6 % - 3 . 1 0 % - 2 . 9 9 % - 1 6 , 7 8 % $6,000 $500,000 9 . 9 2 % - 2 4 , 9 2 %

- 3 . 6 5 % - 4 , 0 4 % 1 4 , 6 6 % - 4 , 8 0 % $2,933 $200,000 2 9 . 1 6 % - 4 1 , 4 9 %

- 4 , 1 0 % - 9 , 5 5 % - 1 0 . 5 1 % - 2 4 . 0 4 % $7,412 $200,000 4 . 4 9 % - 3 2 , 7 9 %

QEPs Only - 4 , 2 4 % - 0 , 3 5 % 9 . 2 0 % - 4 , 2 4 % $4,457 $200,000 1 2 . 1 6 % - 1 5 , 9 6 %

QEPs Only - 4 . 2 6 % - 3 . 4 2 % 1 . 7 4 % - 6 , 3 8 % $2,706,886 $5,000,000 9 . 3 1 % - 1 7 , 4 2 %

- 4 . 3 9 % - 2 . 3 5 % - 1 . 3 6 % - 4 . 7 4 % $0,196 $100,000 - 2 . 3 1 % - 4 , 7 4 %

- 5 . 9 1 % - 1 4 . 2 1 % - 9 . 1 5 % - 4 0 . 9 7 % $2,409 $200,000 - 2 . 6 5 % - 4 0 , 9 7 %

QEPs Only - 6 . 0 2 % - 1 0 . 2 0 % - 6 . 0 2 % - 1 0 . 2 0 % $2,638 $250,000 - 0 . 4 8 % - 1 0 , 2 0 %

- 6 . 5 1 % - 1 0 . 5 8 % - 7 . 7 5 % - 2 8 . 7 4 % $0,929 $100,000 - 1 4 . 3 8 % - 3 0 , 7 7 %

- 6 . 7 0 % - 1 5 . 1 3 % - 7 . 1 8 % - 1 5 . 1 3 % $1,147 $10,000 2 . 5 3 % - 1 5 , 1 3 %

QEPs Only - 7 . 2 2 % - 9 . 0 7 % - 1 . 5 9 % - 9 . 4 5 % $5,970 $3,000,000 - 2 . 2 1 % - 9 , 4 5 %

QEPs Only - 8 . 6 0 % - 1 . 7 0 % 3 . 3 2 % - 1 0 . 3 2 % $1,383,000 $20,000,000 7 . 6 4 % - 1 6 , 9 1 %

QEPs Only - 9 , 3 4 % - 2 0 . 3 0 % - 2 . 9 6 % - 3 0 . 0 8 % $11,900 $200,000 7 . 3 5 % - 4 9 , 8 8 %

QEPs Only - 1 1 , 1 3 % - 9 . 6 3 % - 4 . 6 6 % - 1 4 . 5 0 % $683,103 $10,000,000 1 3 . 4 0 % - 2 6 , 5 6 %

QEPs Only - 1 1 , 1 6 % - 7 . 2 2 % - 0 . 8 2 % - 1 4 . 2 7 % $2,016,476 $10,000,000 1 3 . 3 2 % - 2 6 , 5 6 %

QEPs Only - 1 1 , 2 5 % - 1 8 . 6 1 % - 1 1 . 1 0 % - 1 8 . 6 1 % $160,000 $350,000 6 . 1 8 % - 1 8 . 6 1 %

QEPs Only - 1 2 . 7 2 % - 2 0 . 4 6 % - 1 2 . 5 0 % - 2 0 . 4 6 % $19,193 $100,000 2 , 4 3 % - 2 0 . 4 7 %

This Report May be sorted by Monthly Return, YTD Return, Current Drawdown, 12 Month Return, Assets Under Management & Minimum Account Size.

Please note that the monthly performance numbers, ROR and Drawdowns are based on end of month values and are not reflective of intrarrronth volatility.

(C) = Client Trading Results | (P) = Proprietary Trading Results | (P&C) = A Combination of Proprietary 8» Client Results.

Monthly Return - Indicates the Monthly Retum for the Date indicated in the Title of ttiis Report.

YTD Retum - Indicates the Year-to-Date Return as of the Date indicated in the title of this report..

12 Month Retum - Indicates the last 12 Month Retum as of the Date indicated in the Title of this Report.

Current Drawdown - Represents the extent of the Advisor's current drawdown.

Assets under Management - Tlie Assets under Managmeent of the Advisor's Program or the Total Assets of the Advisor.

Minimum Investment - The minimum participation for an individual managed account.

Annual Com|X>und Rate of Return from Inception - Represents the average return of the CTA over a number of years. It smoothes out returns by assuming constantg row th

Worst Drawdown from Inception - The Worst Drawdown is defined as the greatest cumulative percentage decline In net asset value due to losses sustained by thetrading program during any period In which the initial net asset value Is not equaled or exceeded by a subsequent asset value.

R I S K D I S C L O S U R E - P A S T P E R F O R M A N C E I S N O T N E C E S S A R I L Y I N D I C A T I V E O F F U T U R E R E S U L T S .

THIS MATTER MAY BE INTENDED AS A SOLICITATION FOR MANAGED FUTURES. THE RISK OF TRADING COMMODITY FUTURES, OPTIONS AND FOREIGNEXCHANGE ("FOREX") IS SUBSTANTIAL. THE HIGH DEGREE OF LEVERAGE ASSOCIATED WITH COMMODITY FUTURES, OPTIONS AND FOREX CAN WORKAGAINST YOU AS WELL AS FOR YOU. THIS HIGH DEGREE OF LEVERAGE CAN RESULT IN SUBSTANTIAL LOSSES, AS WELL AS GAINS. YOU SHOULDT H E R E F O R E C A R E F U L L Y C O N S I D E R W H E T H E R S U C H T R A D I N G I S S U I T A B L E F O R Y O U I N L I G H T O F Y O U R F I N A N C I A L C O N D I T I O N . I F Y O U A R E U N S U R E

Y O U S H O U L D S E E K P R O F E S S I O N A L A D V I C E . A N I N V E S T O R M U S T R E A D A N D U N D E R S T A N D T H E C T A ' S C U R R E N T D I S C L O S U R E D O C U M E N T B E F O R E

I N V E S T I N G . T H E R E A R E N O G U A R A N T E E S O F P R O F I T N O M A T T E R W H O I S M A N A G I N G Y O U R M O N E Y.

P A S T P E R F O R M A N C E D O E S N O T G U A R A N T E E F U T U R E S U C C E S S . I N S O M E C A S E S M A N A G E D A C C O U N T S A R E C H A R G E D S U B S T A N T I A L C O M M I S S I O N S A N D

ADVISORY FEES. THOSE ACCOUNTS SUBJECT TO THESE CHARGES, MAY NEED TO MAKE SUBSTANTIAL TRADING PROFITS JUST TO AVOID DEPLETION OFTHEIR ASSETS. EACH COMMODITY TRADING ADVISOR ("CTA") IS REQUIRED BY THE COMMODITY FUTURES TRADING COMMISSION ("CFTC") TO ISSUETO PROSPECTIVE CLIENTS A RISK DISCLOSURE DOCUMENT OUTLINING THESE FEES, CONFLICTS OF INTEREST AND OTHER ASSOCIATED RISKS. A HARDCOPY OF THESE RISK DISCLOSURE DOCUMENTS ARE READILY AVAILABLE BY CLICKING ON EACH CTA'S "REQUEST DISCLOSURE DOCUMENr* BUTTON.

THE FULL RISK OF COMMODITY FUTURES, OPTIONS AND FOREX TRADING CAN NOT BE ADDRESSED IN THIS RISK DISCLOSURE STATEMENT. NOC O N S I D E R A T I O N T O I N V E S T S H O U L D B E M A D E W I T H O U T T H O R O U G H L Y R E A D I N G T H E D I S C L O S U R E D O C U M E N T O F E A C H O F T H E C T A S I N W H I C H Y O U

MAY HAVE AN INTEREST. REQUESTING A DISCLOSURE DOCUMENT PLACES YOU UNDER NO OBLIGATION AND EACH DOCUMENT IS PROVIDED AT NOCOST. THE CFTC HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN ANY OF THE FOLLOWING PROGRAMS NOR ON THE ADEQUACY ORACCURACY OF THE DISCLOSURE DOCUMENTS. OTHER DISCLOSURE STATEMENTS ARE REQUIRED TO BE PROVIDED TO YOU BEFORE AN ACCOUNT MAY BEO P E N E D F O R Y O U .

P A S T P E R F O R M A N C E I S N O T N E C E S S A R I L Y I N D I C A T I V E O F F U T U R E R E S U L T S . P R O S P E C T I V E C L I E N T S S H O U L D N O T B A S E T H E I R D E C I S I O N O N

INVESTING IN THIS TRADING PROGRAM SOLELY ON THE PAST PERFORMANCE PRESENTED. ADDITIONALLY, IN MAKING AN INVESTMENT DECISION,P R O S P E C T I V E C L I E N T S M U S T A L S O R E L Y O N T H E I R O W N E X A M I N A T I O N O F T H E P E R S O N O R E N T I T Y M A K I N G T H E T R A D I N G D E C I S I O N S A N D T H E T E R M S

O F T H E A D V I S O R Y A G R E E M E N T I N C L U D I N G T H E M E R I T S A N D R I S K S I N V O L V E D .

L I M I T A T I O N S O F R A N K I N G S A R E T H A T O N L Y T H O S E A D V I S O R S O R P O O L O P E R A T O R S T H A T S U B M I T T E D T H E I R P E R F O R M A N C E D A T A T O A U T U M N G O L D

W E R E R A T E D . T H E E N T I R E C T A U N I V E R S E I S N O T I N C L U D E D I N T H E R A N K I N G S . T H E P E R F O R M A N C E I N F O R M A T I O N P R O V I D E D W H E R E I N H A S N O T B E E N

V E R I F I E D B Y A U T U M N G O L D . T H E P A S T P E R F O R M A N C E I S N O T N E C E S S A R I L Y I N D I C A T I V E O F F U T U R E R E S U L T S .

A U T U M N G O L D C T A I N D E X E S A R E N O N - I N V E S T A B L E I N D E X E S C O M P R I S E D O F T H E C L I E N T P E R F O R M A N C E O F C T A P R O G R A M S I N C L U D E D I N T H E A U T U M N

G O L D D A T A B A S E A N D D O N O T R E P R E S E N T T H E C O M P L E T E U N I V E R S E O F C T A S . I N V E S T O R S S H O U L D N O T E T H A T I T I S N O T P O S S I B L E T O I N V E S T I NT H E S E I N D E X E S .

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