Three Rock Capital Management

Three Rock Capital Management Global Macro Program *QEP*

Monthly Performance (%)

Date Range: 12/08 - 09/19
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec  YTD 
2019 -0.80 -0.67 1.01 -1.34 0.36 1.15 -0.06 2.66 1.47   3.78 
2018 4.22 -2.16 -1.42 0.47 2.48 0.80 0.56 0.12 -0.04 -0.61 -3.28 2.03  2.98 
2017 -3.57 -1.46 -0.90 -1.84 0.46 -2.41 1.10 -0.72 2.82 -0.43 -2.38 -1.18  -10.17 
2016 2.63 2.08 -1.05 -0.18 0.20 0.76 0.98 -0.25 -2.90 3.32 4.57 -0.73  9.59 
2015 5.05 2.36 4.15 1.17 2.75 -3.98 -0.17 0.14 -2.08 2.93 0.09 1.12  14.00 
2014 -1.43 -1.69 -1.42 -1.43 -1.02 -0.34 -0.46 0.88 5.68 3.67 5.47 0.30  8.10 
2013 2.85 0.14 -1.16 0.55 0.45 1.84 -0.80 1.41 -0.69 -1.36 2.19 0.68  6.17 
2012 1.36 2.07 1.99 -1.12 1.91 -0.61 1.98 0.98 0.30 -1.92 1.82 0.02  9.03 
2011 -4.33 -1.06 2.20 4.25 -3.75 -3.22 1.18 0.43 -0.78 2.79 0.01 2.96  0.25 
2010 -0.76 3.97 4.79 2.51 1.81 -3.01 0.27 2.33 6.30 2.73 2.52 2.96  29.44 
2009 -4.32 4.36 3.68 -3.14 8.00 -7.19 -1.53 -7.42 -0.20 3.34 1.14 -2.54  -6.85 

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

Three Rock Capital Management is a discretionary global macro manager based in Dublin, Ireland. The firm’s principals are Conor O’Mara, Chief Investment Officer; Ciaran Kane, Chief Executive Officer; and Fergal Cox, Chief Operating Officer. Our investment objective is to achieve absolute returns that are uncorrelated with equity markets and other alternative asset classes. Our primary focus is on foreign exchange, which historically accounts for half of our risk exposure. We also trade equity indices, interest rates and precious metals using liquid exchange traded futures. We seek to identify macroeconomic and market trends and to select trades that will profit from those trends. While we will do best in a trending environment, our correlation to trend following CTAs is low. Our investment approach seeks to strike a sensible balance between conviction and money management.

Performance Statistics

Date Range: 12/08 - 09/19
  Program S&P 500 Coquest 40 
Total Return 81.41% 318.12% 12.59% 
Annualized Return 5.70% 14.12% 1.10% 
Annualized Std. Deviation 8.72% 13.57% 8.62% 
Correlation 0.11 0.33 
Sharpe Ratio (rf=2.5%) 0.37 0.86 -0.16 
Worst Month -7.42% -10.65% -6.10% 
Date of Worst Month 08/2009 02/2009 02/2018 
Worst Drawdown -15.56% -18.18% -15.74% 
Date of Worst Drawdown 5/09 - 9/09 12/08 - 2/09 4/11 - 9/13 

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: 12/08 - 09/19
Year or YTD Program S&P 500 Coquest 40 
2019 3.78 20.56 9.57 
2018 2.98 -4.38 -4.29 
2017 -10.17 21.84 1.24 
2016 9.59 11.98 -3.13 
2015 14.00 1.41 0.09 
2014 8.10 13.69 15.75 
2013 6.17 32.41 -2.45 
2012 9.03 15.98 -4.75 
2011 0.25 2.12 -3.23 
2010 29.44 15.06 11.33 
2009 -6.85 26.45 -7.98 

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: 12/08 - 09/19
Date: 9/30/2019 Perf: $1,097.68 Date: 8/31/2019 Perf: $1,128.95 Date: 7/31/2019 Perf: $1,089.51 Date: 6/30/2019 Perf: $1,053.59 Date: 5/31/2019 Perf: $1,032.93 Date: 4/30/2019 Perf: $1,053.58 Date: 3/31/2019 Perf: $1,025.38 Date: 2/28/2019 Perf: $989.84 Date: 1/31/2019 Perf: $983.55 Date: 12/31/2018 Perf: $1,001.78 Date: 11/30/2018 Perf: $997.59 Date: 10/31/2018 Perf: $1,009.71 Date: 9/30/2018 Perf: $1,035.28 Date: 8/31/2018 Perf: $1,039.96 Date: 7/31/2018 Perf: $1,014.10 Date: 6/30/2018 Perf: $1,021.76 Date: 5/31/2018 Perf: $1,013.25 Date: 4/30/2018 Perf: $1,026.49 Date: 3/31/2018 Perf: $1,015.53 Date: 2/28/2018 Perf: $1,016.44 Date: 1/31/2018 Perf: $1,082.47 Date: 12/31/2017 Perf: $1,046.67 Date: 11/30/2017 Perf: $1,035.39 Date: 10/31/2017 Perf: $1,034.04 Date: 9/30/2017 Perf: $992.46 Date: 8/31/2017 Perf: $1,013.85 Date: 7/31/2017 Perf: $997.30 Date: 6/30/2017 Perf: $993.42 Date: 5/31/2017 Perf: $1,023.30 Date: 4/30/2017 Perf: $1,021.36 Date: 3/31/2017 Perf: $1,027.53 Date: 2/28/2017 Perf: $1,042.75 Date: 1/31/2017 Perf: $1,020.51 Date: 12/31/2016 Perf: $1,033.84 Date: 11/30/2016 Perf: $1,026.04 Date: 10/31/2016 Perf: $1,037.46 Date: 9/30/2016 Perf: $1,064.93 Date: 8/31/2016 Perf: $1,078.85 Date: 7/31/2016 Perf: $1,108.67 Date: 6/30/2016 Perf: $1,097.48 Date: 5/31/2016 Perf: $1,052.74 Date: 4/30/2016 Perf: $1,071.49 Date: 3/31/2016 Perf: $1,099.07 Date: 2/29/2016 Perf: $1,131.55 Date: 1/31/2016 Perf: $1,104.38 Date: 12/31/2015 Perf: $1,067.24 Date: 11/30/2015 Perf: $1,092.37 Date: 10/31/2015 Perf: $1,056.34 Date: 9/30/2015 Perf: $1,075.05 Date: 8/31/2015 Perf: $1,052.22 Date: 7/31/2015 Perf: $1,070.74 Date: 6/30/2015 Perf: $1,030.45 Date: 5/31/2015 Perf: $1,086.97 Date: 4/30/2015 Perf: $1,094.86 Date: 3/31/2015 Perf: $1,138.81 Date: 2/28/2015 Perf: $1,114.19 Date: 1/31/2015 Perf: $1,115.98 Date: 12/31/2014 Perf: $1,066.29 Date: 11/30/2014 Perf: $1,047.85 Date: 10/31/2014 Perf: $989.00 Date: 9/30/2014 Perf: $974.67 Date: 8/31/2014 Perf: $960.36 Date: 7/31/2014 Perf: $921.39 Date: 6/30/2014 Perf: $928.82 Date: 5/31/2014 Perf: $920.90 Date: 4/30/2014 Perf: $897.91 Date: 3/31/2014 Perf: $891.14 Date: 2/28/2014 Perf: $904.53 Date: 1/31/2014 Perf: $897.17 Date: 12/31/2013 Perf: $921.21 Date: 11/30/2013 Perf: $922.51 Date: 10/31/2013 Perf: $906.10 Date: 9/30/2013 Perf: $885.82 Date: 8/31/2013 Perf: $891.17 Date: 7/31/2013 Perf: $908.61 Date: 6/30/2013 Perf: $916.59 Date: 5/31/2013 Perf: $952.69 Date: 4/30/2013 Perf: $995.50 Date: 3/31/2013 Perf: $970.46 Date: 2/28/2013 Perf: $956.69 Date: 1/31/2013 Perf: $962.27 Date: 12/31/2012 Perf: $944.32 Date: 11/30/2012 Perf: $939.72 Date: 10/31/2012 Perf: $937.10 Date: 9/30/2012 Perf: $972.29 Date: 8/31/2012 Perf: $988.60 Date: 7/31/2012 Perf: $1,002.24 Date: 6/30/2012 Perf: $962.85 Date: 5/31/2012 Perf: $1,000.47 Date: 4/30/2012 Perf: $981.82 Date: 3/31/2012 Perf: $975.96 Date: 2/29/2012 Perf: $998.63 Date: 1/31/2012 Perf: $994.55 Date: 12/31/2011 Perf: $991.38 Date: 11/30/2011 Perf: $981.95 Date: 10/31/2011 Perf: $979.02 Date: 9/30/2011 Perf: $1,019.38 Date: 8/31/2011 Perf: $1,020.00 Date: 7/31/2011 Perf: $1,022.04 Date: 6/30/2011 Perf: $986.62 Date: 5/31/2011 Perf: $1,012.96 Date: 4/30/2011 Perf: $1,051.33 Date: 3/31/2011 Perf: $1,011.87 Date: 2/28/2011 Perf: $1,027.59 Date: 1/31/2011 Perf: $1,010.41 Date: 12/31/2010 Perf: $1,024.45 Date: 11/30/2010 Perf: $982.31 Date: 10/31/2010 Perf: $1,018.36 Date: 9/30/2010 Perf: $980.32 Date: 8/31/2010 Perf: $962.80 Date: 7/31/2010 Perf: $924.52 Date: 6/30/2010 Perf: $936.61 Date: 5/31/2010 Perf: $933.06 Date: 4/30/2010 Perf: $956.20 Date: 3/31/2010 Perf: $941.70 Date: 2/28/2010 Perf: $905.74 Date: 1/31/2010 Perf: $897.30 Date: 12/31/2009 Perf: $920.22 Date: 11/30/2009 Perf: $958.56 Date: 10/31/2009 Perf: $921.43 Date: 9/30/2009 Perf: $945.64 Date: 8/31/2009 Perf: $923.65 Date: 7/31/2009 Perf: $920.61 Date: 6/30/2009 Perf: $921.63 Date: 5/31/2009 Perf: $946.81 Date: 4/30/2009 Perf: $933.93 Date: 3/31/2009 Perf: $965.50 Date: 2/28/2009 Perf: $993.00 Date: 1/31/2009 Perf: $993.50 Date: 12/31/2008 Perf: $1,000.00 Date: 9/30/2019 Perf: $4,137.37 Date: 8/31/2019 Perf: $4,061.42 Date: 7/31/2019 Perf: $4,126.62 Date: 6/30/2019 Perf: $4,068.04 Date: 5/31/2019 Perf: $3,800.13 Date: 4/30/2019 Perf: $4,057.80 Date: 3/31/2019 Perf: $3,899.86 Date: 2/28/2019 Perf: $3,825.64 Date: 1/31/2019 Perf: $3,706.66 Date: 12/31/2018 Perf: $3,431.77 Date: 11/30/2018 Perf: $3,772.42 Date: 10/31/2018 Perf: $3,697.00 Date: 9/30/2018 Perf: $3,968.45 Date: 8/31/2018 Perf: $3,945.95 Date: 7/31/2018 Perf: $3,821.38 Date: 6/30/2018 Perf: $3,684.32 Date: 5/31/2018 Perf: $3,661.62 Date: 4/30/2018 Perf: $3,575.45 Date: 3/31/2018 Perf: $3,561.91 Date: 2/28/2018 Perf: $3,654.74 Date: 1/31/2018 Perf: $3,794.77 Date: 12/31/2017 Perf: $3,589.12 Date: 11/30/2017 Perf: $3,549.71 Date: 10/31/2017 Perf: $3,443.98 Date: 9/30/2017 Perf: $3,365.57 Date: 8/31/2017 Perf: $3,297.63 Date: 7/31/2017 Perf: $3,287.44 Date: 6/30/2017 Perf: $3,221.09 Date: 5/31/2017 Perf: $3,201.24 Date: 4/30/2017 Perf: $3,156.73 Date: 3/31/2017 Perf: $3,124.55 Date: 2/28/2017 Perf: $3,120.80 Date: 1/31/2017 Perf: $3,001.64 Date: 12/31/2016 Perf: $2,945.67 Date: 11/30/2016 Perf: $2,888.48 Date: 10/31/2016 Perf: $2,785.42 Date: 9/30/2016 Perf: $2,837.05 Date: 8/31/2016 Perf: $2,836.49 Date: 7/31/2016 Perf: $2,832.52 Date: 6/30/2016 Perf: $2,731.72 Date: 5/31/2016 Perf: $2,724.64 Date: 4/30/2016 Perf: $2,676.46 Date: 3/31/2016 Perf: $2,666.06 Date: 2/29/2016 Perf: $2,496.78 Date: 1/31/2016 Perf: $2,500.03 Date: 12/31/2015 Perf: $2,630.50 Date: 11/30/2015 Perf: $2,672.73 Date: 10/31/2015 Perf: $2,664.74 Date: 9/30/2015 Perf: $2,457.34 Date: 8/31/2015 Perf: $2,519.57 Date: 7/31/2015 Perf: $2,681.25 Date: 6/30/2015 Perf: $2,626.10 Date: 5/31/2015 Perf: $2,678.06 Date: 4/30/2015 Perf: $2,643.95 Date: 3/31/2015 Perf: $2,618.81 Date: 2/28/2015 Perf: $2,660.85 Date: 1/31/2015 Perf: $2,516.17 Date: 12/31/2014 Perf: $2,593.99 Date: 11/30/2014 Perf: $2,600.49 Date: 10/31/2014 Perf: $2,532.37 Date: 9/30/2014 Perf: $2,472.05 Date: 8/31/2014 Perf: $2,507.15 Date: 7/31/2014 Perf: $2,410.72 Date: 6/30/2014 Perf: $2,444.46 Date: 5/31/2014 Perf: $2,394.88 Date: 4/30/2014 Perf: $2,339.90 Date: 3/31/2014 Perf: $2,322.71 Date: 2/28/2014 Perf: $2,303.36 Date: 1/31/2014 Perf: $2,202.70 Date: 12/31/2013 Perf: $2,281.64 Date: 11/30/2013 Perf: $2,225.34 Date: 10/31/2013 Perf: $2,159.48 Date: 9/30/2013 Perf: $2,064.51 Date: 8/31/2013 Perf: $2,001.66 Date: 7/31/2013 Perf: $2,061.44 Date: 6/30/2013 Perf: $1,961.59 Date: 5/31/2013 Perf: $1,988.24 Date: 4/30/2013 Perf: $1,942.78 Date: 3/31/2013 Perf: $1,905.99 Date: 2/28/2013 Perf: $1,837.10 Date: 1/31/2013 Perf: $1,812.45 Date: 12/31/2012 Perf: $1,723.19 Date: 11/30/2012 Perf: $1,707.65 Date: 10/31/2012 Perf: $1,697.80 Date: 9/30/2012 Perf: $1,729.80 Date: 8/31/2012 Perf: $1,686.30 Date: 7/31/2012 Perf: $1,649.19 Date: 6/30/2012 Perf: $1,626.58 Date: 5/31/2012 Perf: $1,562.22 Date: 4/30/2012 Perf: $1,662.11 Date: 3/31/2012 Perf: $1,672.65 Date: 2/29/2012 Perf: $1,619.37 Date: 1/31/2012 Perf: $1,552.31 Date: 12/31/2011 Perf: $1,485.75 Date: 11/30/2011 Perf: $1,470.75 Date: 10/31/2011 Perf: $1,473.99 Date: 9/30/2011 Perf: $1,328.76 Date: 8/31/2011 Perf: $1,429.23 Date: 7/31/2011 Perf: $1,511.29 Date: 6/30/2011 Perf: $1,542.61 Date: 5/31/2011 Perf: $1,568.81 Date: 4/30/2011 Perf: $1,586.74 Date: 3/31/2011 Perf: $1,541.12 Date: 2/28/2011 Perf: $1,540.51 Date: 1/31/2011 Perf: $1,489.42 Date: 12/31/2010 Perf: $1,454.94 Date: 11/30/2010 Perf: $1,363.83 Date: 10/31/2010 Perf: $1,363.70 Date: 9/30/2010 Perf: $1,313.65 Date: 8/31/2010 Perf: $1,206.07 Date: 7/31/2010 Perf: $1,263.03 Date: 6/30/2010 Perf: $1,180.29 Date: 5/31/2010 Perf: $1,245.43 Date: 4/30/2010 Perf: $1,353.58 Date: 3/31/2010 Perf: $1,332.52 Date: 2/28/2010 Perf: $1,256.74 Date: 1/31/2010 Perf: $1,218.95 Date: 12/31/2009 Perf: $1,264.47 Date: 11/30/2009 Perf: $1,240.53 Date: 10/31/2009 Perf: $1,170.31 Date: 9/30/2009 Perf: $1,192.49 Date: 8/31/2009 Perf: $1,149.61 Date: 7/31/2009 Perf: $1,109.56 Date: 6/30/2009 Perf: $1,031.57 Date: 5/31/2009 Perf: $1,029.51 Date: 4/30/2009 Perf: $975.01 Date: 3/31/2009 Perf: $889.85 Date: 2/28/2009 Perf: $818.18 Date: 1/31/2009 Perf: $915.70 Date: 12/31/2008 Perf: $1,000.00 Date: 9/30/2019 Perf: $1,814.07 Date: 8/31/2019 Perf: $1,787.79 Date: 7/31/2019 Perf: $1,741.47 Date: 6/30/2019 Perf: $1,742.51 Date: 5/31/2019 Perf: $1,722.70 Date: 4/30/2019 Perf: $1,716.52 Date: 3/31/2019 Perf: $1,739.83 Date: 2/28/2019 Perf: $1,722.44 Date: 1/31/2019 Perf: $1,734.06 Date: 12/31/2018 Perf: $1,748.04 Date: 11/30/2018 Perf: $1,713.26 Date: 10/31/2018 Perf: $1,771.36 Date: 9/30/2018 Perf: $1,782.23 Date: 8/31/2018 Perf: $1,782.95 Date: 7/31/2018 Perf: $1,780.81 Date: 6/30/2018 Perf: $1,770.89 Date: 5/31/2018 Perf: $1,756.84 Date: 4/30/2018 Perf: $1,714.32 Date: 3/31/2018 Perf: $1,706.30 Date: 2/28/2018 Perf: $1,730.88 Date: 1/31/2018 Perf: $1,769.09 Date: 12/31/2017 Perf: $1,697.46 Date: 11/30/2017 Perf: $1,717.73 Date: 10/31/2017 Perf: $1,759.61 Date: 9/30/2017 Perf: $1,767.21 Date: 8/31/2017 Perf: $1,718.74 Date: 7/31/2017 Perf: $1,731.20 Date: 6/30/2017 Perf: $1,712.37 Date: 5/31/2017 Perf: $1,754.66 Date: 4/30/2017 Perf: $1,746.62 Date: 3/31/2017 Perf: $1,779.36 Date: 2/28/2017 Perf: $1,795.52 Date: 1/31/2017 Perf: $1,822.12 Date: 12/31/2016 Perf: $1,889.58 Date: 11/30/2016 Perf: $1,903.48 Date: 10/31/2016 Perf: $1,820.29 Date: 9/30/2016 Perf: $1,761.80 Date: 8/31/2016 Perf: $1,814.42 Date: 7/31/2016 Perf: $1,818.96 Date: 6/30/2016 Perf: $1,801.31 Date: 5/31/2016 Perf: $1,787.72 Date: 4/30/2016 Perf: $1,784.16 Date: 3/31/2016 Perf: $1,787.37 Date: 2/29/2016 Perf: $1,806.34 Date: 1/31/2016 Perf: $1,769.53 Date: 12/31/2015 Perf: $1,724.19 Date: 11/30/2015 Perf: $1,705.09 Date: 10/31/2015 Perf: $1,703.56 Date: 9/30/2015 Perf: $1,655.06 Date: 8/31/2015 Perf: $1,690.22 Date: 7/31/2015 Perf: $1,687.86 Date: 6/30/2015 Perf: $1,690.73 Date: 5/31/2015 Perf: $1,760.81 Date: 4/30/2015 Perf: $1,713.69 Date: 3/31/2015 Perf: $1,693.87 Date: 2/28/2015 Perf: $1,626.37 Date: 1/31/2015 Perf: $1,588.88 Date: 12/31/2014 Perf: $1,512.49 Date: 11/30/2014 Perf: $1,507.97 Date: 10/31/2014 Perf: $1,429.76 Date: 9/30/2014 Perf: $1,379.15 Date: 8/31/2014 Perf: $1,305.02 Date: 7/31/2014 Perf: $1,293.64 Date: 6/30/2014 Perf: $1,299.62 Date: 5/31/2014 Perf: $1,304.05 Date: 4/30/2014 Perf: $1,317.49 Date: 3/31/2014 Perf: $1,336.60 Date: 2/28/2014 Perf: $1,355.86 Date: 1/31/2014 Perf: $1,379.16 Date: 12/31/2013 Perf: $1,399.17 Date: 11/30/2013 Perf: $1,389.72 Date: 10/31/2013 Perf: $1,359.94 Date: 9/30/2013 Perf: $1,378.69 Date: 8/31/2013 Perf: $1,388.27 Date: 7/31/2013 Perf: $1,368.97 Date: 6/30/2013 Perf: $1,380.01 Date: 5/31/2013 Perf: $1,355.07 Date: 4/30/2013 Perf: $1,349.00 Date: 3/31/2013 Perf: $1,341.62 Date: 2/28/2013 Perf: $1,357.37 Date: 1/31/2013 Perf: $1,355.47 Date: 12/31/2012 Perf: $1,317.91 Date: 11/30/2012 Perf: $1,317.65 Date: 10/31/2012 Perf: $1,294.09 Date: 9/30/2012 Perf: $1,319.43 Date: 8/31/2012 Perf: $1,315.48 Date: 7/31/2012 Perf: $1,302.71 Date: 6/30/2012 Perf: $1,277.42 Date: 5/31/2012 Perf: $1,285.26 Date: 4/30/2012 Perf: $1,261.17 Date: 3/31/2012 Perf: $1,275.46 Date: 2/29/2012 Perf: $1,250.57 Date: 1/31/2012 Perf: $1,225.21 Date: 12/31/2011 Perf: $1,208.77 Date: 11/30/2011 Perf: $1,174.02 Date: 10/31/2011 Perf: $1,173.90 Date: 9/30/2011 Perf: $1,142.04 Date: 8/31/2011 Perf: $1,151.02 Date: 7/31/2011 Perf: $1,146.09 Date: 6/30/2011 Perf: $1,132.72 Date: 5/31/2011 Perf: $1,170.41 Date: 4/30/2011 Perf: $1,216.01 Date: 3/31/2011 Perf: $1,166.44 Date: 2/28/2011 Perf: $1,141.33 Date: 1/31/2011 Perf: $1,153.56 Date: 12/31/2010 Perf: $1,205.76 Date: 11/30/2010 Perf: $1,171.10 Date: 10/31/2010 Perf: $1,142.31 Date: 9/30/2010 Perf: $1,111.96 Date: 8/31/2010 Perf: $1,046.06 Date: 7/31/2010 Perf: $1,022.24 Date: 6/30/2010 Perf: $1,019.49 Date: 5/31/2010 Perf: $1,051.12 Date: 4/30/2010 Perf: $1,032.44 Date: 3/31/2010 Perf: $1,007.16 Date: 2/28/2010 Perf: $961.12 Date: 1/31/2010 Perf: $924.42 Date: 12/31/2009 Perf: $931.50 Date: 11/30/2009 Perf: $955.78 Date: 10/31/2009 Perf: $945.00 Date: 9/30/2009 Perf: $914.46 Date: 8/31/2009 Perf: $916.29 Date: 7/31/2009 Perf: $989.73 Date: 6/30/2009 Perf: $1,005.11 Date: 5/31/2009 Perf: $1,082.98 Date: 4/30/2009 Perf: $1,002.75 Date: 3/31/2009 Perf: $1,035.26 Date: 2/28/2009 Perf: $998.52 Date: 1/31/2009 Perf: $956.80 Date: 12/31/2008 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: 12/08 - 09/19
Date: 9/30/2019 Return: 1.47 % Date: 8/31/2019 Return: 2.66 % Date: 7/31/2019 Return: -0.06 % Date: 6/30/2019 Return: 1.15 % Date: 5/31/2019 Return: 0.36 % Date: 4/30/2019 Return: -1.34 % Date: 3/31/2019 Return: 1.01 % Date: 2/28/2019 Return: -0.67 % Date: 1/31/2019 Return: -0.80 % Date: 12/31/2018 Return: 2.03 % Date: 11/30/2018 Return: -3.28 % Date: 10/31/2018 Return: -0.61 % Date: 9/30/2018 Return: -0.04 % Date: 8/31/2018 Return: 0.12 % Date: 7/31/2018 Return: 0.56 % Date: 6/30/2018 Return: 0.80 % Date: 5/31/2018 Return: 2.48 % Date: 4/30/2018 Return: 0.47 % Date: 3/31/2018 Return: -1.42 % Date: 2/28/2018 Return: -2.16 % Date: 1/31/2018 Return: 4.22 % Date: 12/31/2017 Return: -1.18 % Date: 11/30/2017 Return: -2.38 % Date: 10/31/2017 Return: -0.43 % Date: 9/30/2017 Return: 2.82 % Date: 8/31/2017 Return: -0.72 % Date: 7/31/2017 Return: 1.10 % Date: 6/30/2017 Return: -2.41 % Date: 5/31/2017 Return: 0.46 % Date: 4/30/2017 Return: -1.84 % Date: 3/31/2017 Return: -0.90 % Date: 2/28/2017 Return: -1.46 % Date: 1/31/2017 Return: -3.57 % Date: 12/31/2016 Return: -0.73 % Date: 11/30/2016 Return: 4.57 % Date: 10/31/2016 Return: 3.32 % Date: 9/30/2016 Return: -2.90 % Date: 8/31/2016 Return: -0.25 % Date: 7/31/2016 Return: 0.98 % Date: 6/30/2016 Return: 0.76 % Date: 5/31/2016 Return: 0.20 % Date: 4/30/2016 Return: -0.18 % Date: 3/31/2016 Return: -1.05 % Date: 2/29/2016 Return: 2.08 % Date: 1/31/2016 Return: 2.63 % Date: 12/31/2015 Return: 1.12 % Date: 11/30/2015 Return: 0.09 % Date: 10/31/2015 Return: 2.93 % Date: 9/30/2015 Return: -2.08 % Date: 8/31/2015 Return: 0.14 % Date: 7/31/2015 Return: -0.17 % Date: 6/30/2015 Return: -3.98 % Date: 5/31/2015 Return: 2.75 % Date: 4/30/2015 Return: 1.17 % Date: 3/31/2015 Return: 4.15 % Date: 2/28/2015 Return: 2.36 % Date: 1/31/2015 Return: 5.05 % Date: 12/31/2014 Return: 0.30 % Date: 11/30/2014 Return: 5.47 % Date: 10/31/2014 Return: 3.67 % Date: 9/30/2014 Return: 5.68 % Date: 8/31/2014 Return: 0.88 % Date: 7/31/2014 Return: -0.46 % Date: 6/30/2014 Return: -0.34 % Date: 5/31/2014 Return: -1.02 % Date: 4/30/2014 Return: -1.43 % Date: 3/31/2014 Return: -1.42 % Date: 2/28/2014 Return: -1.69 % Date: 1/31/2014 Return: -1.43 % Date: 12/31/2013 Return: 0.68 % Date: 11/30/2013 Return: 2.19 % Date: 10/31/2013 Return: -1.36 % Date: 9/30/2013 Return: -0.69 % Date: 8/31/2013 Return: 1.41 % Date: 7/31/2013 Return: -0.80 % Date: 6/30/2013 Return: 1.84 % Date: 5/31/2013 Return: 0.45 % Date: 4/30/2013 Return: 0.55 % Date: 3/31/2013 Return: -1.16 % Date: 2/28/2013 Return: 0.14 % Date: 1/31/2013 Return: 2.85 % Date: 12/31/2012 Return: 0.02 % Date: 11/30/2012 Return: 1.82 % Date: 10/31/2012 Return: -1.92 % Date: 9/30/2012 Return: 0.30 % Date: 8/31/2012 Return: 0.98 % Date: 7/31/2012 Return: 1.98 % Date: 6/30/2012 Return: -0.61 % Date: 5/31/2012 Return: 1.91 % Date: 4/30/2012 Return: -1.12 % Date: 3/31/2012 Return: 1.99 % Date: 2/29/2012 Return: 2.07 % Date: 1/31/2012 Return: 1.36 % Date: 12/31/2011 Return: 2.96 % Date: 11/30/2011 Return: 0.01 % Date: 10/31/2011 Return: 2.79 % Date: 9/30/2011 Return: -0.78 % Date: 8/31/2011 Return: 0.43 % Date: 7/31/2011 Return: 1.18 % Date: 6/30/2011 Return: -3.22 % Date: 5/31/2011 Return: -3.75 % Date: 4/30/2011 Return: 4.25 % Date: 3/31/2011 Return: 2.20 % Date: 2/28/2011 Return: -1.06 % Date: 1/31/2011 Return: -4.33 % Date: 12/31/2010 Return: 2.96 % Date: 11/30/2010 Return: 2.52 % Date: 10/31/2010 Return: 2.73 % Date: 9/30/2010 Return: 6.30 % Date: 8/31/2010 Return: 2.33 % Date: 7/31/2010 Return: 0.27 % Date: 6/30/2010 Return: -3.01 % Date: 5/31/2010 Return: 1.81 % Date: 4/30/2010 Return: 2.51 % Date: 3/31/2010 Return: 4.79 % Date: 2/28/2010 Return: 3.97 % Date: 1/31/2010 Return: -0.76 % Date: 12/31/2009 Return: -2.54 % Date: 11/30/2009 Return: 1.14 % Date: 10/31/2009 Return: 3.34 % Date: 9/30/2009 Return: -0.20 % Date: 8/31/2009 Return: -7.42 % Date: 7/31/2009 Return: -1.53 % Date: 6/30/2009 Return: -7.19 % Date: 5/31/2009 Return: 8.00 % Date: 4/30/2009 Return: -3.14 % Date: 3/31/2009 Return: 3.68 % Date: 2/28/2009 Return: 4.36 % Date: 1/31/2009 Return: -4.32 % Date: 12/31/2008 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: 12/08 - 09/19
Return: 6.00 % Count: 2 Return: 2.00 % Count: 14 Return: 5.00 % Count: 4 Return: -1.00 % Count: 24 Return: 1.00 % Count: 18 Return: 3.00 % Count: 14 Return: -2.00 % Count: 8 Return: -7.00 % Count: 2 Return: 8.00 % Count: 1 Return: -3.00 % Count: 6 Return: 4.00 % Count: 7 Return: -4.00 % Count: 5 Return: 0.00 % Count: 25

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: 12/08 - 09/19
Date: 9/30/2019 Drawdown: -4.70 % Date: 8/31/2019 Drawdown: -6.08 % Date: 7/31/2019 Drawdown: -8.51 % Date: 6/30/2019 Drawdown: -8.46 % Date: 5/31/2019 Drawdown: -9.50 % Date: 4/30/2019 Drawdown: -9.82 % Date: 3/31/2019 Drawdown: -8.60 % Date: 2/28/2019 Drawdown: -9.51 % Date: 1/31/2019 Drawdown: -8.90 % Date: 12/31/2018 Drawdown: -8.17 % Date: 11/30/2018 Drawdown: -9.99 % Date: 10/31/2018 Drawdown: -6.94 % Date: 9/30/2018 Drawdown: -6.37 % Date: 8/31/2018 Drawdown: -6.33 % Date: 7/31/2018 Drawdown: -6.44 % Date: 6/30/2018 Drawdown: -6.97 % Date: 5/31/2018 Drawdown: -7.70 % Date: 4/30/2018 Drawdown: -9.94 % Date: 3/31/2018 Drawdown: -10.36 % Date: 2/28/2018 Drawdown: -9.07 % Date: 1/31/2018 Drawdown: -7.06 % Date: 12/31/2017 Drawdown: -10.82 % Date: 11/30/2017 Drawdown: -9.76 % Date: 10/31/2017 Drawdown: -7.56 % Date: 9/30/2017 Drawdown: -7.16 % Date: 8/31/2017 Drawdown: -9.71 % Date: 7/31/2017 Drawdown: -9.05 % Date: 6/30/2017 Drawdown: -10.04 % Date: 5/31/2017 Drawdown: -7.82 % Date: 4/30/2017 Drawdown: -8.24 % Date: 3/31/2017 Drawdown: -6.52 % Date: 2/28/2017 Drawdown: -5.67 % Date: 1/31/2017 Drawdown: -4.27 % Date: 12/31/2016 Drawdown: -0.73 % Date: 11/30/2016 Drawdown: 0.00 % Date: 10/31/2016 Drawdown: 0.00 % Date: 9/30/2016 Drawdown: -3.14 % Date: 8/31/2016 Drawdown: -0.25 % Date: 7/31/2016 Drawdown: 0.00 % Date: 6/30/2016 Drawdown: -0.28 % Date: 5/31/2016 Drawdown: -1.03 % Date: 4/30/2016 Drawdown: -1.23 % Date: 3/31/2016 Drawdown: -1.05 % Date: 2/29/2016 Drawdown: 0.00 % Date: 1/31/2016 Drawdown: 0.00 % Date: 12/31/2015 Drawdown: -2.08 % Date: 11/30/2015 Drawdown: -3.16 % Date: 10/31/2015 Drawdown: -3.25 % Date: 9/30/2015 Drawdown: -6.01 % Date: 8/31/2015 Drawdown: -4.01 % Date: 7/31/2015 Drawdown: -4.14 % Date: 6/30/2015 Drawdown: -3.98 % Date: 5/31/2015 Drawdown: 0.00 % Date: 4/30/2015 Drawdown: 0.00 % Date: 3/31/2015 Drawdown: 0.00 % Date: 2/28/2015 Drawdown: 0.00 % 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: 0.00 % Date: 9/30/2014 Drawdown: -1.43 % Date: 8/31/2014 Drawdown: -6.73 % Date: 7/31/2014 Drawdown: -7.54 % Date: 6/30/2014 Drawdown: -7.12 % Date: 5/31/2014 Drawdown: -6.80 % Date: 4/30/2014 Drawdown: -5.84 % Date: 3/31/2014 Drawdown: -4.47 % Date: 2/28/2014 Drawdown: -3.10 % Date: 1/31/2014 Drawdown: -1.43 % Date: 12/31/2013 Drawdown: 0.00 % Date: 11/30/2013 Drawdown: 0.00 % Date: 10/31/2013 Drawdown: -2.04 % Date: 9/30/2013 Drawdown: -0.69 % Date: 8/31/2013 Drawdown: 0.00 % Date: 7/31/2013 Drawdown: -0.80 % Date: 6/30/2013 Drawdown: 0.00 % Date: 5/31/2013 Drawdown: -0.17 % Date: 4/30/2013 Drawdown: -0.62 % Date: 3/31/2013 Drawdown: -1.16 % Date: 2/28/2013 Drawdown: 0.00 % Date: 1/31/2013 Drawdown: 0.00 % Date: 12/31/2012 Drawdown: -0.11 % Date: 11/30/2012 Drawdown: -0.13 % Date: 10/31/2012 Drawdown: -1.92 % Date: 9/30/2012 Drawdown: 0.00 % Date: 8/31/2012 Drawdown: 0.00 % Date: 7/31/2012 Drawdown: 0.00 % Date: 6/30/2012 Drawdown: -0.61 % Date: 5/31/2012 Drawdown: 0.00 % Date: 4/30/2012 Drawdown: -1.12 % Date: 3/31/2012 Drawdown: 0.00 % Date: 2/29/2012 Drawdown: 0.00 % Date: 1/31/2012 Drawdown: 0.00 % Date: 12/31/2011 Drawdown: -0.60 % Date: 11/30/2011 Drawdown: -3.45 % Date: 10/31/2011 Drawdown: -3.46 % Date: 9/30/2011 Drawdown: -6.08 % Date: 8/31/2011 Drawdown: -5.34 % Date: 7/31/2011 Drawdown: -5.75 % Date: 6/30/2011 Drawdown: -6.85 % Date: 5/31/2011 Drawdown: -3.75 % Date: 4/30/2011 Drawdown: 0.00 % Date: 3/31/2011 Drawdown: -3.26 % Date: 2/28/2011 Drawdown: -5.34 % Date: 1/31/2011 Drawdown: -4.33 % Date: 12/31/2010 Drawdown: 0.00 % Date: 11/30/2010 Drawdown: 0.00 % Date: 10/31/2010 Drawdown: 0.00 % Date: 9/30/2010 Drawdown: 0.00 % Date: 8/31/2010 Drawdown: -3.41 % Date: 7/31/2010 Drawdown: -5.61 % Date: 6/30/2010 Drawdown: -5.86 % Date: 5/31/2010 Drawdown: -2.94 % Date: 4/30/2010 Drawdown: -4.67 % Date: 3/31/2010 Drawdown: -7.00 % Date: 2/28/2010 Drawdown: -11.25 % Date: 1/31/2010 Drawdown: -14.64 % Date: 12/31/2009 Drawdown: -13.99 % Date: 11/30/2009 Drawdown: -11.75 % Date: 10/31/2009 Drawdown: -12.74 % Date: 9/30/2009 Drawdown: -15.56 % Date: 8/31/2009 Drawdown: -15.39 % Date: 7/31/2009 Drawdown: -8.61 % Date: 6/30/2009 Drawdown: -7.19 % Date: 5/31/2009 Drawdown: 0.00 % Date: 4/30/2009 Drawdown: -3.14 % Date: 3/31/2009 Drawdown: 0.00 % Date: 2/28/2009 Drawdown: -0.15 % Date: 1/31/2009 Drawdown: -4.32 %

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:  Three Rock Capital Management
Address: 149 Francis Street
City: Dublin 8
State:
Zip:
Country: Ireland

Key People

Name:  Ciaran Kane
Position:  Principal
Biography: 

Name:  Conor O'Mara
Position:  Principal
Biography: 

Name:  Fergal Cox
Position:  Principal
Biography: 

Additional Information

 Futures Sectors Traded
 Stock Indexes Yes 
 Interest Rates Yes 
 Metals Yes 
 Forex Yes 
 Investment Methodology
 Fundamental Analysis Yes 
 Technical Yes 
 Discretionary Yes 
 Other Yes 
 Instruments Traded
 Futures Yes 
 Geographical Focus
 Global Yes 
 Holding Period
 Medium Term Yes 
 Short Term Yes 
 Investment Terms & Information
 Managed Account Minimum: $1,000,000 
 Margin / Equity Ratio: 3% 
 Managed Account Availability: Open 
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