Red Rock Capital, LLC

Commodity Long-Short Program

Monthly Performance (%)

Date Range: 08/13 - 04/23
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec  YTD 
2023 -3.13 2.62 4.71 8.63   13.07 
2022 9.08 1.23 7.44 5.57 -2.22 -2.80 1.81 1.28 -7.51 1.24 -6.11 0.75  8.72 
2021 2.10 11.67 -1.92 13.18 2.22 -3.25 -0.30 4.43 7.09 3.76 -2.14 -0.83  40.53 
2020 2.23 8.18 13.16 -2.97 -0.99 -1.59 -1.65 -4.58 -0.25 -0.16 -1.76 3.49  12.42 
2019 -8.76 4.29 -3.07 1.40 8.12 -2.44 -1.15 4.38 -6.29 -3.17 -0.88 5.24  -3.65 
2018 1.13 -2.08 3.18 -2.05 -8.39 4.25 1.45 4.65 4.28 -4.30 -2.71 -2.30  -3.74 
2017 -0.61 -5.78 -1.84 -1.23 -1.56 4.65 -7.67 7.32 -6.14 1.31 -7.88 5.62  -14.25 
2016 -3.01 -0.46 -6.72 -3.67 -1.83 5.87 3.38 -0.09 0.64 0.99 0.68 -1.45  -6.09 
2015 2.97 -2.09 2.76 -5.03 2.63 3.79 8.20 4.29 0.63 -2.50 14.50 -1.17  31.30 
2014 0.94 5.27 8.14 -6.08 0.44 1.92 5.37 -3.06 17.07 -1.66 4.79 4.12  41.75 
2013 0.18 0.42 3.33 0.77  4.75 

Note: Estimated returns are used for the most recent reported monthly ROR or appear in italics. All performance data is since program inception.

Strategy Description

Tangible / physical commodity futures markets are predictably inefficient. Supply & demand shocks are common and they regularly exhibit various degrees of disequilibrium as producers, consumers, and speculators attempt to maximize their gains and limit their risks. Our Commodity Long-Short strategy is designed to identify patterns of market behavior that signal an opportune time to initiate positions with the aim of capturing profitable, directional volatility in these markets as they try to find their true price. The patterns are not visible to the naked eye and can be counter-trend or with the trend. The average holding period of a trade is 9 days and the returns of the strategy exhibit very low correlation to stocks, bonds, HFs, or trend-following CTAs. Minimum account size is $500,000 and fees are 2% & 20%.

Performance Statistics

Date Range: 08/13 - 04/23
  Program S&P 500 Coquest 40 
Total Return 182.80% 198.31% 45.43% 
Annualized Return 11.35% 11.86% 3.92% 
Annualized Std. Deviation 16.94% 14.89% 8.40% 
Correlation -0.23 0.29 
Sharpe Ratio (rf=2.5%) 0.52 0.63 0.17 
Worst Month -8.76% -12.35% -6.10% 
Date of Worst Month 01/2019 03/2020 02/2018 
Worst Drawdown -30.11% -23.86% -13.63% 
Date of Worst Drawdown 11/15 - 1/19 12/21 - 9/22 3/15 - 1/19 

Note: Estimated returns are used for the most recent reported monthly ROR or appear in italics. All performance data is since program inception.

Annual Performance (%)

Date Range: 08/13 - 04/23
Year or YTD Program S&P 500 Coquest 40 
2023 13.07 9.17 -2.82 
2022 8.72 -18.10 17.65 
2021 40.53 28.72 6.26 
2020 12.42 18.40 0.97 
2019 -3.65 31.50 7.53 
2018 -3.74 -4.38 -4.29 
2017 -14.25 21.84 1.24 
2016 -6.09 11.98 -3.13 
2015 31.30 1.41 0.09 
2014 41.75 13.69 15.75 
2013 4.75 13.99 3.37 

Note: Estimated returns are used for the most recent reported monthly ROR or appear in italics. All performance data is since program inception.

Performance Comparison

Date Range: 08/13 - 04/23
Date: 4/30/2023 Perf: $1,482.77 Date: 3/31/2023 Perf: $1,458.55 Date: 2/28/2023 Perf: $1,546.22 Date: 1/31/2023 Perf: $1,510.72 Date: 12/31/2022 Perf: $1,525.83 Date: 11/30/2022 Perf: $1,535.66 Date: 10/31/2022 Perf: $1,621.09 Date: 9/30/2022 Perf: $1,609.66 Date: 8/31/2022 Perf: $1,543.89 Date: 7/31/2022 Perf: $1,501.55 Date: 6/30/2022 Perf: $1,536.89 Date: 5/31/2022 Perf: $1,517.77 Date: 4/30/2022 Perf: $1,524.94 Date: 3/31/2022 Perf: $1,446.12 Date: 2/28/2022 Perf: $1,350.38 Date: 1/31/2022 Perf: $1,321.18 Date: 12/31/2021 Perf: $1,296.93 Date: 11/30/2021 Perf: $1,295.64 Date: 10/31/2021 Perf: $1,328.58 Date: 9/30/2021 Perf: $1,302.66 Date: 8/31/2021 Perf: $1,296.18 Date: 7/31/2021 Perf: $1,295.92 Date: 6/30/2021 Perf: $1,290.24 Date: 5/31/2021 Perf: $1,295.17 Date: 4/30/2021 Perf: $1,276.53 Date: 3/31/2021 Perf: $1,254.45 Date: 2/28/2021 Perf: $1,237.86 Date: 1/31/2021 Perf: $1,209.44 Date: 12/31/2020 Perf: $1,220.55 Date: 11/30/2020 Perf: $1,176.20 Date: 10/31/2020 Perf: $1,165.94 Date: 9/30/2020 Perf: $1,169.69 Date: 8/31/2020 Perf: $1,187.02 Date: 7/31/2020 Perf: $1,200.58 Date: 6/30/2020 Perf: $1,178.08 Date: 5/31/2020 Perf: $1,193.36 Date: 4/30/2020 Perf: $1,207.49 Date: 3/31/2020 Perf: $1,203.51 Date: 2/29/2020 Perf: $1,202.79 Date: 1/31/2020 Perf: $1,220.99 Date: 12/31/2019 Perf: $1,208.78 Date: 11/30/2019 Perf: $1,216.32 Date: 10/31/2019 Perf: $1,204.51 Date: 9/30/2019 Perf: $1,231.73 Date: 8/31/2019 Perf: $1,266.83 Date: 7/31/2019 Perf: $1,222.57 Date: 6/30/2019 Perf: $1,182.25 Date: 5/31/2019 Perf: $1,159.07 Date: 4/30/2019 Perf: $1,182.24 Date: 3/31/2019 Perf: $1,150.60 Date: 2/28/2019 Perf: $1,110.73 Date: 1/31/2019 Perf: $1,103.66 Date: 12/31/2018 Perf: $1,124.12 Date: 11/30/2018 Perf: $1,119.42 Date: 10/31/2018 Perf: $1,133.02 Date: 9/30/2018 Perf: $1,161.71 Date: 8/31/2018 Perf: $1,166.96 Date: 7/31/2018 Perf: $1,137.95 Date: 6/30/2018 Perf: $1,146.55 Date: 5/31/2018 Perf: $1,136.99 Date: 4/30/2018 Perf: $1,151.85 Date: 3/31/2018 Perf: $1,139.55 Date: 2/28/2018 Perf: $1,140.57 Date: 1/31/2018 Perf: $1,214.67 Date: 12/31/2017 Perf: $1,174.50 Date: 11/30/2017 Perf: $1,161.84 Date: 10/31/2017 Perf: $1,160.33 Date: 9/30/2017 Perf: $1,113.66 Date: 8/31/2017 Perf: $1,137.67 Date: 7/31/2017 Perf: $1,119.09 Date: 6/30/2017 Perf: $1,114.75 Date: 5/31/2017 Perf: $1,148.27 Date: 4/30/2017 Perf: $1,146.10 Date: 3/31/2017 Perf: $1,153.02 Date: 2/28/2017 Perf: $1,170.10 Date: 1/31/2017 Perf: $1,145.13 Date: 12/31/2016 Perf: $1,160.10 Date: 11/30/2016 Perf: $1,151.35 Date: 10/31/2016 Perf: $1,164.16 Date: 9/30/2016 Perf: $1,194.99 Date: 8/31/2016 Perf: $1,210.60 Date: 7/31/2016 Perf: $1,244.07 Date: 6/30/2016 Perf: $1,231.51 Date: 5/31/2016 Perf: $1,181.30 Date: 4/30/2016 Perf: $1,202.34 Date: 3/31/2016 Perf: $1,233.30 Date: 2/29/2016 Perf: $1,269.74 Date: 1/31/2016 Perf: $1,239.25 Date: 12/31/2015 Perf: $1,197.58 Date: 11/30/2015 Perf: $1,225.77 Date: 10/31/2015 Perf: $1,185.35 Date: 9/30/2015 Perf: $1,206.34 Date: 8/31/2015 Perf: $1,180.72 Date: 7/31/2015 Perf: $1,201.51 Date: 6/30/2015 Perf: $1,156.29 Date: 5/31/2015 Perf: $1,219.72 Date: 4/30/2015 Perf: $1,228.57 Date: 3/31/2015 Perf: $1,277.89 Date: 2/28/2015 Perf: $1,250.26 Date: 1/31/2015 Perf: $1,252.27 Date: 12/31/2014 Perf: $1,196.51 Date: 11/30/2014 Perf: $1,175.81 Date: 10/31/2014 Perf: $1,109.78 Date: 9/30/2014 Perf: $1,093.70 Date: 8/31/2014 Perf: $1,077.65 Date: 7/31/2014 Perf: $1,033.91 Date: 6/30/2014 Perf: $1,042.25 Date: 5/31/2014 Perf: $1,033.36 Date: 4/30/2014 Perf: $1,007.57 Date: 3/31/2014 Perf: $999.97 Date: 2/28/2014 Perf: $1,014.99 Date: 1/31/2014 Perf: $1,006.74 Date: 12/31/2013 Perf: $1,033.72 Date: 11/30/2013 Perf: $1,035.17 Date: 10/31/2013 Perf: $1,016.76 Date: 9/30/2013 Perf: $994.00 Date: 8/31/2013 Perf: $1,000.00 Date: 4/30/2023 Perf: $3,072.22 Date: 3/31/2023 Perf: $3,025.03 Date: 2/28/2023 Perf: $2,917.94 Date: 1/31/2023 Perf: $2,990.92 Date: 12/31/2022 Perf: $2,814.19 Date: 11/30/2022 Perf: $2,986.20 Date: 10/31/2022 Perf: $2,828.11 Date: 9/30/2022 Perf: $2,616.19 Date: 8/31/2022 Perf: $2,881.59 Date: 7/31/2022 Perf: $3,004.16 Date: 6/30/2022 Perf: $2,750.56 Date: 5/31/2022 Perf: $2,997.88 Date: 4/30/2022 Perf: $2,992.49 Date: 3/31/2022 Perf: $3,278.37 Date: 2/28/2022 Perf: $3,161.09 Date: 1/31/2022 Perf: $3,258.52 Date: 12/31/2021 Perf: $3,436.17 Date: 11/30/2021 Perf: $3,288.83 Date: 10/31/2021 Perf: $3,311.68 Date: 9/30/2021 Perf: $3,094.74 Date: 8/31/2021 Perf: $3,245.66 Date: 7/31/2021 Perf: $3,149.91 Date: 6/30/2021 Perf: $3,076.68 Date: 5/31/2021 Perf: $3,006.63 Date: 4/30/2021 Perf: $2,985.73 Date: 3/31/2021 Perf: $2,834.37 Date: 2/28/2021 Perf: $2,715.44 Date: 1/31/2021 Perf: $2,642.50 Date: 12/31/2020 Perf: $2,669.46 Date: 11/30/2020 Perf: $2,570.75 Date: 10/31/2020 Perf: $2,317.03 Date: 9/30/2020 Perf: $2,380.35 Date: 8/31/2020 Perf: $2,474.38 Date: 7/31/2020 Perf: $2,308.40 Date: 6/30/2020 Perf: $2,185.16 Date: 5/31/2020 Perf: $2,142.52 Date: 4/30/2020 Perf: $2,045.17 Date: 3/31/2020 Perf: $1,812.78 Date: 2/29/2020 Perf: $2,068.20 Date: 1/31/2020 Perf: $2,253.68 Date: 12/31/2019 Perf: $2,254.58 Date: 11/30/2019 Perf: $2,188.48 Date: 10/31/2019 Perf: $2,111.83 Date: 9/30/2019 Perf: $2,066.97 Date: 8/31/2019 Perf: $2,029.03 Date: 7/31/2019 Perf: $2,061.60 Date: 6/30/2019 Perf: $2,032.34 Date: 5/31/2019 Perf: $1,898.49 Date: 4/30/2019 Perf: $2,027.22 Date: 3/31/2019 Perf: $1,948.32 Date: 2/28/2019 Perf: $1,911.24 Date: 1/31/2019 Perf: $1,851.79 Date: 12/31/2018 Perf: $1,714.47 Date: 11/30/2018 Perf: $1,884.65 Date: 10/31/2018 Perf: $1,846.97 Date: 9/30/2018 Perf: $1,982.58 Date: 8/31/2018 Perf: $1,971.34 Date: 7/31/2018 Perf: $1,909.11 Date: 6/30/2018 Perf: $1,840.63 Date: 5/31/2018 Perf: $1,829.29 Date: 4/30/2018 Perf: $1,786.24 Date: 3/31/2018 Perf: $1,779.48 Date: 2/28/2018 Perf: $1,825.86 Date: 1/31/2018 Perf: $1,895.82 Date: 12/31/2017 Perf: $1,793.07 Date: 11/30/2017 Perf: $1,773.39 Date: 10/31/2017 Perf: $1,720.57 Date: 9/30/2017 Perf: $1,681.39 Date: 8/31/2017 Perf: $1,647.45 Date: 7/31/2017 Perf: $1,642.36 Date: 6/30/2017 Perf: $1,609.21 Date: 5/31/2017 Perf: $1,599.30 Date: 4/30/2017 Perf: $1,577.06 Date: 3/31/2017 Perf: $1,560.98 Date: 2/28/2017 Perf: $1,559.11 Date: 1/31/2017 Perf: $1,499.58 Date: 12/31/2016 Perf: $1,471.62 Date: 11/30/2016 Perf: $1,443.04 Date: 10/31/2016 Perf: $1,391.56 Date: 9/30/2016 Perf: $1,417.35 Date: 8/31/2016 Perf: $1,417.07 Date: 7/31/2016 Perf: $1,415.09 Date: 6/30/2016 Perf: $1,364.73 Date: 5/31/2016 Perf: $1,361.19 Date: 4/30/2016 Perf: $1,337.12 Date: 3/31/2016 Perf: $1,331.93 Date: 2/29/2016 Perf: $1,247.36 Date: 1/31/2016 Perf: $1,248.98 Date: 12/31/2015 Perf: $1,314.16 Date: 11/30/2015 Perf: $1,335.26 Date: 10/31/2015 Perf: $1,331.27 Date: 9/30/2015 Perf: $1,227.65 Date: 8/31/2015 Perf: $1,258.74 Date: 7/31/2015 Perf: $1,339.52 Date: 6/30/2015 Perf: $1,311.96 Date: 5/31/2015 Perf: $1,337.92 Date: 4/30/2015 Perf: $1,320.88 Date: 3/31/2015 Perf: $1,308.32 Date: 2/28/2015 Perf: $1,329.32 Date: 1/31/2015 Perf: $1,257.04 Date: 12/31/2014 Perf: $1,295.92 Date: 11/30/2014 Perf: $1,299.17 Date: 10/31/2014 Perf: $1,265.14 Date: 9/30/2014 Perf: $1,235.00 Date: 8/31/2014 Perf: $1,252.54 Date: 7/31/2014 Perf: $1,204.36 Date: 6/30/2014 Perf: $1,221.22 Date: 5/31/2014 Perf: $1,196.45 Date: 4/30/2014 Perf: $1,168.98 Date: 3/31/2014 Perf: $1,160.39 Date: 2/28/2014 Perf: $1,150.73 Date: 1/31/2014 Perf: $1,100.44 Date: 12/31/2013 Perf: $1,139.88 Date: 11/30/2013 Perf: $1,111.75 Date: 10/31/2013 Perf: $1,078.84 Date: 9/30/2013 Perf: $1,031.40 Date: 8/31/2013 Perf: $1,000.00 Date: 4/30/2023 Perf: $2,827.96 Date: 3/31/2023 Perf: $2,603.29 Date: 2/28/2023 Perf: $2,486.19 Date: 1/31/2023 Perf: $2,422.72 Date: 12/31/2022 Perf: $2,501.00 Date: 11/30/2022 Perf: $2,482.38 Date: 10/31/2022 Perf: $2,643.93 Date: 9/30/2022 Perf: $2,611.54 Date: 8/31/2022 Perf: $2,823.59 Date: 7/31/2022 Perf: $2,787.91 Date: 6/30/2022 Perf: $2,738.35 Date: 5/31/2022 Perf: $2,817.23 Date: 4/30/2022 Perf: $2,881.19 Date: 3/31/2022 Perf: $2,729.18 Date: 2/28/2022 Perf: $2,540.19 Date: 1/31/2022 Perf: $2,509.32 Date: 12/31/2021 Perf: $2,300.44 Date: 11/30/2021 Perf: $2,319.69 Date: 10/31/2021 Perf: $2,370.42 Date: 9/30/2021 Perf: $2,284.52 Date: 8/31/2021 Perf: $2,133.27 Date: 7/31/2021 Perf: $2,042.78 Date: 6/30/2021 Perf: $2,048.93 Date: 5/31/2021 Perf: $2,117.75 Date: 4/30/2021 Perf: $2,071.76 Date: 3/31/2021 Perf: $1,830.50 Date: 2/28/2021 Perf: $1,866.33 Date: 1/31/2021 Perf: $1,671.29 Date: 12/31/2020 Perf: $1,636.92 Date: 11/30/2020 Perf: $1,581.72 Date: 10/31/2020 Perf: $1,610.05 Date: 9/30/2020 Perf: $1,612.63 Date: 8/31/2020 Perf: $1,616.67 Date: 7/31/2020 Perf: $1,694.27 Date: 6/30/2020 Perf: $1,722.70 Date: 5/31/2020 Perf: $1,750.53 Date: 4/30/2020 Perf: $1,768.03 Date: 3/31/2020 Perf: $1,822.15 Date: 2/29/2020 Perf: $1,610.24 Date: 1/31/2020 Perf: $1,488.49 Date: 12/31/2019 Perf: $1,456.02 Date: 11/30/2019 Perf: $1,383.52 Date: 10/31/2019 Perf: $1,395.80 Date: 9/30/2019 Perf: $1,441.50 Date: 8/31/2019 Perf: $1,538.26 Date: 7/31/2019 Perf: $1,473.71 Date: 6/30/2019 Perf: $1,490.85 Date: 5/31/2019 Perf: $1,528.14 Date: 4/30/2019 Perf: $1,413.37 Date: 3/31/2019 Perf: $1,393.86 Date: 2/28/2019 Perf: $1,438.00 Date: 1/31/2019 Perf: $1,378.85 Date: 12/31/2018 Perf: $1,511.24 Date: 11/30/2018 Perf: $1,546.81 Date: 10/31/2018 Perf: $1,589.90 Date: 9/30/2018 Perf: $1,661.34 Date: 8/31/2018 Perf: $1,593.15 Date: 7/31/2018 Perf: $1,522.36 Date: 6/30/2018 Perf: $1,500.60 Date: 5/31/2018 Perf: $1,439.43 Date: 4/30/2018 Perf: $1,571.25 Date: 3/31/2018 Perf: $1,604.14 Date: 2/28/2018 Perf: $1,554.70 Date: 1/31/2018 Perf: $1,587.72 Date: 12/31/2017 Perf: $1,569.98 Date: 11/30/2017 Perf: $1,486.45 Date: 10/31/2017 Perf: $1,613.60 Date: 9/30/2017 Perf: $1,592.73 Date: 8/31/2017 Perf: $1,696.92 Date: 7/31/2017 Perf: $1,581.18 Date: 6/30/2017 Perf: $1,712.53 Date: 5/31/2017 Perf: $1,636.44 Date: 4/30/2017 Perf: $1,662.37 Date: 3/31/2017 Perf: $1,683.07 Date: 2/28/2017 Perf: $1,714.62 Date: 1/31/2017 Perf: $1,819.81 Date: 12/31/2016 Perf: $1,830.97 Date: 11/30/2016 Perf: $1,857.91 Date: 10/31/2016 Perf: $1,845.37 Date: 9/30/2016 Perf: $1,827.28 Date: 8/31/2016 Perf: $1,815.66 Date: 7/31/2016 Perf: $1,817.29 Date: 6/30/2016 Perf: $1,757.88 Date: 5/31/2016 Perf: $1,660.41 Date: 4/30/2016 Perf: $1,691.36 Date: 3/31/2016 Perf: $1,755.80 Date: 2/29/2016 Perf: $1,882.29 Date: 1/31/2016 Perf: $1,890.99 Date: 12/31/2015 Perf: $1,949.67 Date: 11/30/2015 Perf: $1,972.75 Date: 10/31/2015 Perf: $1,722.93 Date: 9/30/2015 Perf: $1,767.11 Date: 8/31/2015 Perf: $1,756.04 Date: 7/31/2015 Perf: $1,683.81 Date: 6/30/2015 Perf: $1,556.20 Date: 5/31/2015 Perf: $1,499.37 Date: 4/30/2015 Perf: $1,460.95 Date: 3/31/2015 Perf: $1,538.33 Date: 2/28/2015 Perf: $1,497.01 Date: 1/31/2015 Perf: $1,528.97 Date: 12/31/2014 Perf: $1,484.87 Date: 11/30/2014 Perf: $1,426.11 Date: 10/31/2014 Perf: $1,360.92 Date: 9/30/2014 Perf: $1,383.89 Date: 8/31/2014 Perf: $1,182.11 Date: 7/31/2014 Perf: $1,219.42 Date: 6/30/2014 Perf: $1,157.28 Date: 5/31/2014 Perf: $1,135.48 Date: 4/30/2014 Perf: $1,130.50 Date: 3/31/2014 Perf: $1,203.69 Date: 2/28/2014 Perf: $1,113.08 Date: 1/31/2014 Perf: $1,057.36 Date: 12/31/2013 Perf: $1,047.51 Date: 11/30/2013 Perf: $1,039.51 Date: 10/31/2013 Perf: $1,006.01 Date: 9/30/2013 Perf: $1,001.80 Date: 8/31/2013 Perf: $1,000.00

Note: Estimated returns are used for the most recent reported monthly ROR or appear in italics. All performance data is since program inception.

Monthly Returns

Date Range: 08/13 - 04/23
Date: 4/30/2023 Return: 8.63 % Date: 3/31/2023 Return: 4.71 % Date: 2/28/2023 Return: 2.62 % Date: 1/31/2023 Return: -3.13 % Date: 12/31/2022 Return: 0.75 % Date: 11/30/2022 Return: -6.11 % Date: 10/31/2022 Return: 1.24 % Date: 9/30/2022 Return: -7.51 % Date: 8/31/2022 Return: 1.28 % Date: 7/31/2022 Return: 1.81 % Date: 6/30/2022 Return: -2.80 % Date: 5/31/2022 Return: -2.22 % Date: 4/30/2022 Return: 5.57 % Date: 3/31/2022 Return: 7.44 % Date: 2/28/2022 Return: 1.23 % Date: 1/31/2022 Return: 9.08 % Date: 12/31/2021 Return: -0.83 % Date: 11/30/2021 Return: -2.14 % Date: 10/31/2021 Return: 3.76 % Date: 9/30/2021 Return: 7.09 % Date: 8/31/2021 Return: 4.43 % Date: 7/31/2021 Return: -0.30 % Date: 6/30/2021 Return: -3.25 % Date: 5/31/2021 Return: 2.22 % Date: 4/30/2021 Return: 13.18 % Date: 3/31/2021 Return: -1.92 % Date: 2/28/2021 Return: 11.67 % Date: 1/31/2021 Return: 2.10 % Date: 12/31/2020 Return: 3.49 % Date: 11/30/2020 Return: -1.76 % Date: 10/31/2020 Return: -0.16 % Date: 9/30/2020 Return: -0.25 % Date: 8/31/2020 Return: -4.58 % Date: 7/31/2020 Return: -1.65 % Date: 6/30/2020 Return: -1.59 % Date: 5/31/2020 Return: -0.99 % Date: 4/30/2020 Return: -2.97 % Date: 3/31/2020 Return: 13.16 % Date: 2/29/2020 Return: 8.18 % Date: 1/31/2020 Return: 2.23 % Date: 12/31/2019 Return: 5.24 % Date: 11/30/2019 Return: -0.88 % Date: 10/31/2019 Return: -3.17 % Date: 9/30/2019 Return: -6.29 % Date: 8/31/2019 Return: 4.38 % Date: 7/31/2019 Return: -1.15 % Date: 6/30/2019 Return: -2.44 % Date: 5/31/2019 Return: 8.12 % Date: 4/30/2019 Return: 1.40 % Date: 3/31/2019 Return: -3.07 % Date: 2/28/2019 Return: 4.29 % Date: 1/31/2019 Return: -8.76 % Date: 12/31/2018 Return: -2.30 % Date: 11/30/2018 Return: -2.71 % Date: 10/31/2018 Return: -4.30 % Date: 9/30/2018 Return: 4.28 % Date: 8/31/2018 Return: 4.65 % Date: 7/31/2018 Return: 1.45 % Date: 6/30/2018 Return: 4.25 % Date: 5/31/2018 Return: -8.39 % Date: 4/30/2018 Return: -2.05 % Date: 3/31/2018 Return: 3.18 % Date: 2/28/2018 Return: -2.08 % Date: 1/31/2018 Return: 1.13 % Date: 12/31/2017 Return: 5.62 % Date: 11/30/2017 Return: -7.88 % Date: 10/31/2017 Return: 1.31 % Date: 9/30/2017 Return: -6.14 % Date: 8/31/2017 Return: 7.32 % Date: 7/31/2017 Return: -7.67 % Date: 6/30/2017 Return: 4.65 % Date: 5/31/2017 Return: -1.56 % Date: 4/30/2017 Return: -1.23 % Date: 3/31/2017 Return: -1.84 % Date: 2/28/2017 Return: -5.78 % Date: 1/31/2017 Return: -0.61 % Date: 12/31/2016 Return: -1.45 % Date: 11/30/2016 Return: 0.68 % Date: 10/31/2016 Return: 0.99 % Date: 9/30/2016 Return: 0.64 % Date: 8/31/2016 Return: -0.09 % Date: 7/31/2016 Return: 3.38 % Date: 6/30/2016 Return: 5.87 % Date: 5/31/2016 Return: -1.83 % Date: 4/30/2016 Return: -3.67 % Date: 3/31/2016 Return: -6.72 % Date: 2/29/2016 Return: -0.46 % Date: 1/31/2016 Return: -3.01 % Date: 12/31/2015 Return: -1.17 % Date: 11/30/2015 Return: 14.50 % Date: 10/31/2015 Return: -2.50 % Date: 9/30/2015 Return: 0.63 % Date: 8/31/2015 Return: 4.29 % Date: 7/31/2015 Return: 8.20 % Date: 6/30/2015 Return: 3.79 % Date: 5/31/2015 Return: 2.63 % Date: 4/30/2015 Return: -5.03 % Date: 3/31/2015 Return: 2.76 % Date: 2/28/2015 Return: -2.09 % Date: 1/31/2015 Return: 2.97 % Date: 12/31/2014 Return: 4.12 % Date: 11/30/2014 Return: 4.79 % Date: 10/31/2014 Return: -1.66 % Date: 9/30/2014 Return: 17.07 % Date: 8/31/2014 Return: -3.06 % Date: 7/31/2014 Return: 5.37 % Date: 6/30/2014 Return: 1.92 % Date: 5/31/2014 Return: 0.44 % Date: 4/30/2014 Return: -6.08 % Date: 3/31/2014 Return: 8.14 % Date: 2/28/2014 Return: 5.27 % Date: 1/31/2014 Return: 0.94 % Date: 12/31/2013 Return: 0.77 % Date: 11/30/2013 Return: 3.33 % Date: 10/31/2013 Return: 0.42 % Date: 9/30/2013 Return: 0.18 % Date: 8/31/2013 Return: 0.00 %

Note: Estimated returns are used for the most recent reported monthly ROR or appear in italics. All performance data is since program inception.

Distribution of Monthly Returns

Date Range: 08/13 - 04/23
Return: 9.00 % Count: 2 Return: 12.00 % Count: 1 Return: 13.00 % Count: 2 Return: -9.00 % Count: 1 Return: 7.00 % Count: 3 Return: -8.00 % Count: 4 Return: 6.00 % Count: 3 Return: -4.00 % Count: 2 Return: -7.00 % Count: 1 Return: -1.00 % Count: 8 Return: 14.00 % Count: 1 Return: -5.00 % Count: 2 Return: 4.00 % Count: 9 Return: -2.00 % Count: 16 Return: 17.00 % Count: 1 Return: -3.00 % Count: 9 Return: 2.00 % Count: 5 Return: -6.00 % Count: 5 Return: 8.00 % Count: 4 Return: 5.00 % Count: 7 Return: 1.00 % Count: 14 Return: 3.00 % Count: 8 Return: 0.00 % Count: 9

Note: Estimated returns are used for the most recent reported monthly ROR or appear in italics. All performance data is since program inception.

Underwater Curve

Date Range: 08/13 - 04/23
Date: 4/30/2023 Drawdown: -1.85 % Date: 3/31/2023 Drawdown: -9.65 % Date: 2/28/2023 Drawdown: -13.71 % Date: 1/31/2023 Drawdown: -15.91 % Date: 12/31/2022 Drawdown: -13.20 % Date: 11/30/2022 Drawdown: -13.84 % Date: 10/31/2022 Drawdown: -8.23 % Date: 9/30/2022 Drawdown: -9.36 % Date: 8/31/2022 Drawdown: -2.00 % Date: 7/31/2022 Drawdown: -3.24 % Date: 6/30/2022 Drawdown: -4.96 % Date: 5/31/2022 Drawdown: -2.22 % Date: 4/30/2022 Drawdown: 0.00 % Date: 3/31/2022 Drawdown: 0.00 % Date: 2/28/2022 Drawdown: 0.00 % Date: 1/31/2022 Drawdown: 0.00 % Date: 12/31/2021 Drawdown: -2.95 % Date: 11/30/2021 Drawdown: -2.14 % Date: 10/31/2021 Drawdown: 0.00 % Date: 9/30/2021 Drawdown: 0.00 % Date: 8/31/2021 Drawdown: 0.00 % Date: 7/31/2021 Drawdown: -3.54 % Date: 6/30/2021 Drawdown: -3.25 % Date: 5/31/2021 Drawdown: 0.00 % Date: 4/30/2021 Drawdown: 0.00 % Date: 3/31/2021 Drawdown: -7.21 % Date: 2/28/2021 Drawdown: -5.39 % Date: 1/31/2021 Drawdown: -15.28 % Date: 12/31/2020 Drawdown: -17.02 % Date: 11/30/2020 Drawdown: -19.82 % Date: 10/31/2020 Drawdown: -18.39 % Date: 9/30/2020 Drawdown: -18.25 % Date: 8/31/2020 Drawdown: -18.05 % Date: 7/31/2020 Drawdown: -14.12 % Date: 6/30/2020 Drawdown: -12.68 % Date: 5/31/2020 Drawdown: -11.26 % Date: 4/30/2020 Drawdown: -10.38 % Date: 3/31/2020 Drawdown: -7.63 % Date: 2/29/2020 Drawdown: -18.38 % Date: 1/31/2020 Drawdown: -24.55 % Date: 12/31/2019 Drawdown: -26.19 % Date: 11/30/2019 Drawdown: -29.87 % Date: 10/31/2019 Drawdown: -29.25 % Date: 9/30/2019 Drawdown: -26.93 % Date: 8/31/2019 Drawdown: -22.02 % Date: 7/31/2019 Drawdown: -25.30 % Date: 6/30/2019 Drawdown: -24.43 % Date: 5/31/2019 Drawdown: -22.54 % Date: 4/30/2019 Drawdown: -28.36 % Date: 3/31/2019 Drawdown: -29.34 % Date: 2/28/2019 Drawdown: -27.11 % Date: 1/31/2019 Drawdown: -30.11 % Date: 12/31/2018 Drawdown: -23.39 % Date: 11/30/2018 Drawdown: -21.59 % Date: 10/31/2018 Drawdown: -19.41 % Date: 9/30/2018 Drawdown: -15.79 % Date: 8/31/2018 Drawdown: -19.24 % Date: 7/31/2018 Drawdown: -22.83 % Date: 6/30/2018 Drawdown: -23.93 % Date: 5/31/2018 Drawdown: -27.03 % Date: 4/30/2018 Drawdown: -20.35 % Date: 3/31/2018 Drawdown: -18.69 % Date: 2/28/2018 Drawdown: -21.19 % Date: 1/31/2018 Drawdown: -19.52 % Date: 12/31/2017 Drawdown: -20.42 % Date: 11/30/2017 Drawdown: -24.65 % Date: 10/31/2017 Drawdown: -18.21 % Date: 9/30/2017 Drawdown: -19.26 % Date: 8/31/2017 Drawdown: -13.98 % Date: 7/31/2017 Drawdown: -19.85 % Date: 6/30/2017 Drawdown: -13.19 % Date: 5/31/2017 Drawdown: -17.05 % Date: 4/30/2017 Drawdown: -15.73 % Date: 3/31/2017 Drawdown: -14.68 % Date: 2/28/2017 Drawdown: -13.08 % Date: 1/31/2017 Drawdown: -7.75 % Date: 12/31/2016 Drawdown: -7.19 % Date: 11/30/2016 Drawdown: -5.82 % Date: 10/31/2016 Drawdown: -6.46 % Date: 9/30/2016 Drawdown: -7.37 % Date: 8/31/2016 Drawdown: -7.96 % Date: 7/31/2016 Drawdown: -7.88 % Date: 6/30/2016 Drawdown: -10.89 % Date: 5/31/2016 Drawdown: -15.83 % Date: 4/30/2016 Drawdown: -14.26 % Date: 3/31/2016 Drawdown: -11.00 % Date: 2/29/2016 Drawdown: -4.59 % Date: 1/31/2016 Drawdown: -4.14 % Date: 12/31/2015 Drawdown: -1.17 % Date: 11/30/2015 Drawdown: 0.00 % Date: 10/31/2015 Drawdown: -2.50 % Date: 9/30/2015 Drawdown: 0.00 % Date: 8/31/2015 Drawdown: 0.00 % Date: 7/31/2015 Drawdown: 0.00 % Date: 6/30/2015 Drawdown: 0.00 % Date: 5/31/2015 Drawdown: -2.53 % Date: 4/30/2015 Drawdown: -5.03 % Date: 3/31/2015 Drawdown: 0.00 % Date: 2/28/2015 Drawdown: -2.09 % Date: 1/31/2015 Drawdown: 0.00 % Date: 12/31/2014 Drawdown: 0.00 % Date: 11/30/2014 Drawdown: 0.00 % Date: 10/31/2014 Drawdown: -1.66 % Date: 9/30/2014 Drawdown: 0.00 % Date: 8/31/2014 Drawdown: -3.06 % Date: 7/31/2014 Drawdown: 0.00 % Date: 6/30/2014 Drawdown: -3.86 % Date: 5/31/2014 Drawdown: -5.67 % Date: 4/30/2014 Drawdown: -6.08 % Date: 3/31/2014 Drawdown: 0.00 % Date: 2/28/2014 Drawdown: 0.00 % Date: 1/31/2014 Drawdown: 0.00 % Date: 12/31/2013 Drawdown: 0.00 % Date: 11/30/2013 Drawdown: 0.00 % Date: 10/31/2013 Drawdown: 0.00 % Date: 9/30/2013 Drawdown: 0.00 %

Note: Estimated returns are used for the most recent reported monthly ROR or appear in italics. All performance data is since program inception.

Manager Information

Manager Name:  Red Rock Capital, LLC
Address: 5000 Birch Street, Suite 3000
City: Newport Beach
State: CA
Zip: 92660
Country: USA

Key People

Name:  Thomas N. Rollinger
Position:  Chief Investment Officer
Biography: 

Mr. Rollinger graduated with a Bachelor of Science degree in Finance with an Economics minor from Western Michigan University in 1993.Effective March 27, 2013, Mr. Rollinger is registered with the CFTC as an Associated Person and a listed principal of the firm. Effective April 25, 2013 Mr. Rollinger is an Associated Member of the NFA.

Name:  Scott Hoffman
Position:  Principal
Biography: 

Mr. Hoffman graduated Cum Laude with a Bachelor of Science degree in Electrical Engineering from Brigham Young University in April 1987. Effective March 18, 2013, Mr. Hoffman is a listed principal of the firm. Effective March 27, 2013, Mr. Hoffman is registered with the CFTC as an Associated Person. Effective April 25, 2013, Mr. Hoffman is an Associated Member of the NFA.

Additional Information

 Futures Sectors Traded
 Metals Yes 
 Energies Yes 
 Softs Yes 
 Grains Yes 
 Meats Yes 
 Investment Methodology
 Technical Yes 
 Trend Following Yes 
 Systematic Yes 
 Counter-trend Yes 
 Pattern Recognition Yes 
 Quantitative Analysis Yes 
 Instruments Traded
 Futures Yes 
 Geographical Focus
 United States Yes 
 Holding Period
 Short Term Yes 
 Investment Terms & Information
 Managed Account Minimum: $500,000 
 Margin / Equity Ratio: 10% 
 Managed Account Availability: Closed 
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