0001305631-12-000015.txt : 20120614 0001305631-12-000015.hdr.sgml : 20120614 20120614150122 ACCESSION NUMBER: 0001305631-12-000015 CONFORMED SUBMISSION TYPE: 10-Q/A PUBLIC DOCUMENT COUNT: 8 CONFORMED PERIOD OF REPORT: 20110930 FILED AS OF DATE: 20120614 DATE AS OF CHANGE: 20120614 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TriView Global Fund, LLC CENTRAL INDEX KEY: 0001305631 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 201689686 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-119655 FILM NUMBER: 12907384 BUSINESS ADDRESS: STREET 1: 505 BROOKFIELD DRIVE CITY: DOVER STATE: DE ZIP: 46737 BUSINESS PHONE: (202) 833-1306 MAIL ADDRESS: STREET 1: 505 BROOKFIELD DRIVE CITY: DOVER STATE: DE ZIP: 46737 10-Q/A 1 triview10qa911.txt FORM 10-Q/A SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) [X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2011 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 333-119655 TriView Global Fund, LLC (Exact name of registrant as specified in its charter) Delaware 20-1689686 (State or other jurisdiction of incorporation (I.R.S. Employer or organization) Identification No.) 505 Brookfield Drive, Dover, DE 19901 (Address of principal executive offices, including zip code) (800) 331-1532 (Registrant's telephone number, including area code) (Former name, former address and former fiscal year, if changed since last report) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes [X] No [ ] Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (Sec 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes [ ] No [ ] Not Applicable Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See definition of large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer [ ] Accelerated filer [ ] Non-accelerated filer [X] Smaller Reporting Company [ ] Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes [ ] No [X] APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY PROCEEDINGS DURING THE PRECEDING FIVE YEARS: Indicate by check mark whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) f the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court. Yes [ ] No [ ] Not applicable. APPLICABLE ONLY TO CORPORATE ISSUERS: Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date. Not Applicable EXPLANATORY NOTE This Amendment to the Quarterly Report on Form 10-Q/A (the "Amendment") amends the Quarterly Report on Form 10-Q of TriView Global Fund, LLC (the "Fund") for the quarter ended September 30, 2011 (the "Original Filing"), that was originally filed with the U.S. Securities and Exchange Commission on November 14, 2011. The Amendment is being filed to submit Exhibit 101. Except as described above, the Amendment does not modify or update the disclosures presented in, or exhibits to, the Original Filing in any way. Those sections of the Original Filing that are unaffected by the Amendment are not included herein. The Amendment continues to speak as of the date of the Original Filing. Furthermore, the Amendment does not reflect events occurring after the filing of the Original Filing. Accordingly, the Amendment should be read in conjunction with the Original Filing, as well as the Company's other filings made with the SEC pursuant to Section 13(a) or 15(d) of the Exchange Act subsequent to the filing of the Original Filing. Item 6. Exhibits 31.1 Certification of Principal Executive Officer and Principal Financial Officer Pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934 32.1 Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 101 XBRL formatted financial statements. SIGNATURES Pursuant to the requirements of Section 13 or 15 (d) of the Securities Exchange Act of 1934, the Registrant has duly caused this Form 10-Q for the period ended September 30, 2011, to be signed on its behalf by the undersigned, thereunto duly authorized. Registrant: TriView Global Fund, LLC By TriView Capital Management, Inc. Its Managing Member By: /s/ Michael Pacult Mr. Michael Pacult Sole Director, Sole Shareholder, President, and Treasurer of the Managing Member Date: June 14, 2012 EX-101.INS 2 tgf-20110930.xml 0001305631 2011-01-01 2011-09-30 0001305631 2011-09-30 0001305631 2010-12-31 0001305631 2011-07-01 2011-09-30 0001305631 2010-07-01 2010-09-30 0001305631 2010-01-01 2010-09-30 0001305631 2009-12-31 0001305631 2010-09-30 iso4217:USD xbrli:shares 10-Q false 2011-09-30 2011 Q3 TriView Global Fund, LLC 0001305631 --12-31 Non-accelerated Filer 0 0 No No Yes 1211735 0 1211735 0 81670 405 17883 4481 1311288 4886 10146 0 915 0 1062 920 1986 0 65577 262272 79686 263192 1231602 -258306 1231602 -129153 0 -129153 1231602 -258306 1591.250 1.000 0 1.000 1591.250 2.000 5 0 5 0 0 20000 0 20000 5 20000 5 20000 19162 0 19162 0 8556 0 8556 0 18750 5385 38105 34958 2651 8610 14142 22858 49119 13995 79965 57816 -49114 6005 -79960 -37816 -4658 0 -4658 0 -3702 0 -3702 0 -8360 0 -8360 0 0 0 0 0 -8360 0 -8360 0 -57474 6005 -88320 -37816 -14.48 3002.50 -15437.80 -18908.00 0 3002.50 0 -18908.00 -88320 -37816 -13402 -4702 10146 0 915 0 142 -3817 -90519 -46335 -196695 46500 1580214 0 1383519 46500 1293000 165 405 363 1293405 528 1211735 0 81670 528 1293405 528 <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">Note 1.&#160;&#160;&#160; Nature of the Business&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; TriView Global Fund, LLC (the &quot;Fund&quot;) was formed on October 1, 2004 under the laws of the State of Delaware.&#160; The Fund is engaged in high risk, speculative and hedge trading of futures and forward contracts, options on futures and forward contracts, and other instruments selected by registered commodity trading advisors (&quot;CTA&#8217;s&quot;).&#160; On July 7, 2011, the Fund commenced business after admission of 26 members, with total subscriptions of $1,374,333 at a price of $1,000 per Unit.&#160; Through September 30, 2011 additional capital contributions from members of $205,881 were received. The maximum offering is $20,000,000.&#160; TriView Capital Management, Inc. (the &quot;Corporate Managing Member&quot;) and Michael Pacult (the &quot;Individual Managing Member&quot; and collectively the &quot;Managing Member&quot;) are the managing members and commodity pool operators (&quot;CPO&#8217;s&quot;) of the Fund.&#160; The CTA is GT Capital CTA (&quot;GT Capital&quot;), which has the authority to trade as much of the Fund&#8217;s equity as is allocated to it by the Managing Member. The selling agent and introducing broker is Futures Investment Company (&quot;FIC&quot;), which is owned and operated by Michael Pacult and his wife.&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Regulation - The Fund is a registrant with the Securities and Exchange Commission (&quot;SEC&quot;) pursuant to the Securities Act of 1933.&#160; The Fund is subject to the regulations of the SEC and the reporting requirements of the Securities and Exchange Act of 1934, and of the rules and regulations of the Financial Industry Regulation Authority (&quot;FINRA&quot;).&#160; The Fund is also be subject to the regulations of the Commodities Futures Trading Commission (&quot;CFTC&quot;), an agency of the U.S. government, which regulates most aspects of the commodity futures industry, the rules of the National Futures Association and the requirements of various commodity exchanges where the Fund executes transactions. Additionally, the Fund is subject to the requirements of futures commission merchants (&quot;FCM&#8217;s&quot;) and interbank market makers through which the Fund trades.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">Note 2.&#160;&#160;&#160; Significant Accounting Policies&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Offering Expenses and Organizational Costs -&#160; For financial reporting purposes in conformity with accounting principles generally accepted in the United States of America (&quot;GAAP&quot;), on the Fund&#8217;s initial effective date, November 3, 2005, the Fund deducted from members&#8217; capital the total initial offering costs of $43,468, as of that date, and began expensing all subsequent offering costs.&#160; Organizational and operating costs are expensed as incurred for GAAP purposes. For all other purposes, including determining the Net Asset Value per Unit for subscription and redemption purposes, the Fund capitalized all offering, organizational and operating costs until commencement of business, July 7, 2011, which totaled $291,153. These costs are expensed and amortized on a straight line basis for 60 months or sooner at the discretion of the Managing Member.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; As of September 30, 2011 and December 31, 2010, the Net Asset Value and Net Asset Value per Unit for financial reporting purposes and for all other purposes are as follows:</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:5.4pt;width:0px;"> <tr style="height:15.0pt;"> <td valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="3" nowrap="nowrap" valign="bottom" width="33%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 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style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">September 30,</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">December 31,</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">September 30,</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;</font></p> </td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">December 31,</font></p> </td> </tr> <tr style="height:15.0pt;"> <td valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" 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nowrap="nowrap" valign="bottom" width="15%" style="height:30.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (258,306)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:30.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:30.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 773.98 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:30.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:30.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p 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style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:21.75pt;"> <td valign="bottom" width="23%" 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style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Interest income will be recognized when it is earned.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other Income - Other income consists of $20,000 of offering and organizational costs which were previously incurred, but were subsequently absorbed in accordance with the S-1, which was approved by the SEC on August 10, 2010.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Foreign Currency - The accounting records of the Fund are denominated in U.S. dollars. Assets and liabilities denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates in effect on the valuation date.&#160; Commodity futures contracts transactions are translated into U.S. dollars at the exchange rates on the dates of such transactions. On the accompanying financial statements, effects of changes in exchange rates from all transactions denominated in currencies other than U.S. dollars are disclosed separately. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Use of Accounting Estimates - The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period.&#160; Actual results could differ from these estimates.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Income Taxes - The Fund is not required to provide a provision for income taxes.&#160; Income tax attributes that arise from its operations are passed directly to the individual members.&#160; The Fund may be subject to state and local taxes in jurisdictions in which it operates.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Management has continued to evaluate the application of Financial Accounting Standards Board (&quot;FASB&quot;) Accounting Standards Codification (&quot;ASC&quot;) 740, &quot;Income Taxes&quot; to the Fund and has determined that ASC 740 does not have a material impact on the Fund&#8217;s financial statements. The Fund files federal and state tax returns. The 2007 through 2010 tax years generally remain subject to examination for the U.S. federal and most state tax authorities.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Statement of Cash Flows - Net cash used in operating activities includes no cash payments for interest or income taxes for the nine months ended September 30, 2011 and 2010.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Reclassifications - Certain prior year amounts were reclassified to conform to current year presentation.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Fair Value Measurement and Disclosures - ASC 820 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels.&#160; The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access at the measurement date.&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Level 3 inputs are unobservable inputs for an asset or liability, including the Fund&#8217;s own assumptions used in determining the fair value of investments.&#160; Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.&#160; As of and for the nine months ended September 30, 2011 and the year ended December 31, 2010, the Fund did not have any Level 3 assets or liabilities.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; As of September 30, 2011, the Fund had no level 1 or level 2 inputs.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">Note 3.&#160;&#160;&#160; Managing Member Duties&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The responsibilities of the Managing Member, in addition to directing the trading and investment activity of the Fund, including suspending all trading, includes executing and filing all necessary legal documents, statements and certificates of the Fund, retaining independent public accountants to audit the Fund, employing attorneys to represent the Fund, reviewing the brokerage commission rates to determine reasonableness, maintaining the tax status of the Fund, maintaining a current list of the names, addresses and numbers of units owned by each Member and taking such other actions as deemed necessary to manage the business of the Fund.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; If the net unit value of the Fund falls to less than 50% of the greater of the original $1,000 selling price, less commissions and other charges or such higher value earned through trading, then the Managing Member will immediately suspend all trading, provide all members with notice of the reduction in net unit value and give all members the opportunity, for fifteen days after such notice, to redeem Units.&#160; No trading shall commence until after the lapse of such fifteen day period.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">Note 4.&#160;&#160;&#160; The Limited Liability Company (&quot;LLC&quot;) Agreement&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The LLC Operating Agreement provides, among other things, that- </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Capital Account - A capital account shall be established for each member.&#160; The initial balance of each member&#8217;s capital account shall be the amount of the initial contributions to the Fund.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Monthly Allocations - Any increase or decrease in the Fund&#8217;s net asset value as of the end of a month shall be credited or charged to the capital account of each Member in the ratio that the balance of each account bears to the total balance of all accounts.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Any distribution from profits or members&#8217; capital will be made solely at the discretion of the Managing Member.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Federal Income Tax Allocations - As of the end of each fiscal year, the Fund&#8217;s realized capital gain or loss and ordinary income or loss shall be allocated among the Members, after having given effect to the fees and expenses of the Fund.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Subscriptions - Investors must submit subscription agreements and funds at least five business days prior to month end.&#160; Subscriptions must be accepted or rejected by the Managing Member within five business days.&#160; The investor also has five business days to withdraw his subscription.&#160; Funds are deposited into an interest bearing subscription account and will be transferred to the Fund&#8217;s account after the minimum to commence business has been raised and, thereafter, on the first business day of the month after the subscription is accepted.&#160; Interest earned on the subscription funds will accrue to the account of the investor.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Redemptions - A member may request any or all of his investment be redeemed at the net asset value as of the end of a month. Unless this requirement is waived, the written request must be received by the managing member no less than ten business days prior to a month end. Redemptions will generally be paid within twenty days of the effective month end. However, in various circumstances due to liquidity, etc. the Managing Member may be unable to comply with the request on a timely basis. There will be no redemption fee; however there will be a twelve month lock-in commencing from the date of admission of an investment.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">Note 5.&#160;&#160;&#160; Fees&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Fund was initially charged the following fees after the commencement of trading.&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A monthly management fee of 2.5% (annual rate) paid to the Corporate Managing Member, calculated on the Fund&#8217;s prior month-end net assets.&#160; Brokerage commissions to the Fund&#8217;s affiliated introducing broker, FIC, of $15 per round turn.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; As of September 1, 2011, the Fund no longer paid FIC round turn brokerage&#160; commissions and no longer paid the Corporate Managing Member a management fee.&#160; Instead, the Fund is charged 10% (annual rate) fixed brokerage commissions, paid monthly, calculated on the prior month-end net assets, with 7.5% paid to FIC and 2.5% to the Corporate Managing Member.&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 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</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Managing Member has reserved the right to implement a management fee and change the incentive fee at its sole discretion.&#160; The total incentive fees may be increased to 27% if the management fee is zero.&#160; The Fund may also increase the total management fees paid to the CTA&#8217;s and Corporate Managing Member to 6% of total net assets if the total incentive fees are decreased to 15%. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">Note 6.&#160;&#160;&#160; Related Party Transactions&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The sole shareholder of the Corporate Managing Member made an initial member capital contribution in the Fund of $1,000.&#160; He is also the sole shareholder of TriView Capital Management, Inc., which along with the shareholder and other affiliates, has temporarily funded the syndication costs incurred by the Fund to date.&#160; A variable interest entity relationship existed between the Corporate Managing Member and the Fund until July 7, 2011 when the Fund commenced business.&#160; The Corporate Managing Member redeemed its interest July 31, 2011. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In the normal course of business, the Fund has provided general indemnifications to the Managing Member, its CTA&#8217;s and others when they act, in good faith, in the best interests of the Fund. The Fund is unable to develop an estimate for future payments resulting from hypothetical claims, but expects the risk of having to make any payments under these indemnifications to be remote. </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Due to related parties at September 30, 2011 and December 31, 2010 consisted of amounts due to the Corporate Managing Member, TriView Capital Management, Inc., FIC, and Michael Pacult, President of FIC, the Corporate Managing Member and TriView Capital Management, Inc.&#160; The balances result from offering, organizational and operating costs paid by the related parties on behalf of the Fund and cash advances.&#160; These amounts bear no interest or due dates and are unsecured.&#160; The following balances were outstanding as of September 30, 2011 and December 31, 2010:</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:5.4pt;width:0px;"> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="18%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="18%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">September 30,</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">December 31,</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="18%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="18%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="23%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">2011</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">2010</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="18%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="18%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="18%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">FIC</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="18%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 65,576 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 194,108 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td colspan="4" nowrap="nowrap" valign="bottom" width="44%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Ashley Capital Management, Inc.</font></p> </td> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 26,475 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td colspan="3" nowrap="nowrap" valign="bottom" width="40%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Corporate Managing Member</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,958 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:17.25pt;"> <td nowrap="nowrap" valign="bottom" width="18%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Michael Pacult</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="18%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="23%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><u><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></u></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><u><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 39,731 </font></u></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:6.0pt;"> <td nowrap="nowrap" valign="bottom" width="18%" style="height:6.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:6.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="18%" style="height:6.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:6.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="23%" style="height:6.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:6.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" style="height:6.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:6.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:17.25pt;"> <td colspan="3" nowrap="nowrap" valign="bottom" width="40%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Balance due to related parties</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="23%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><u><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 65,577 </font></u></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><u><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 262,272 </font></u></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Fund pays commissions to the Corporate Managing Member and Futures Investment Company, the introducing broker.&#160; These related parties are 100% and 50%, respectively, owned by Michael Pacult.&#160; Related party commissions and management fees were as follows:</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:5.4pt;width:0px;"> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Commissions included in expenses:</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="3" nowrap="nowrap" valign="bottom" width="43%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">For The Nine Months Ended September 30,</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">2011</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">2010</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Corporate Managing Member</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 2,750 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Futures Investment Company</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 13,344 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Total related party expenses</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="border-bottom:double windowtext 2.25pt;border-top:solid windowtext 1.0pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 16,094 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="border-bottom:double windowtext 2.25pt;border-top:solid windowtext 1.0pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Management fees included in expenses:</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="3" nowrap="nowrap" valign="bottom" width="43%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">For The Nine Months Ended September 30,</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">2011</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">2010</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Corporate Managing Member</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 5,706 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Total related party expenses</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="border-bottom:double windowtext 2.25pt;border-top:solid windowtext 1.0pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 5,706 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="border-bottom:double windowtext 2.25pt;border-top:solid windowtext 1.0pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="28%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Commissions included in accrued expenses:</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">September 30,</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">December 31,</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">2011</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">2010</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Corporate Managing Member</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 2,750 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Futures Investment Company</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 7,396 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.75pt;"> <td colspan="4" nowrap="nowrap" valign="bottom" width="47%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Total accrued commissions payable to related parties</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="border-bottom:double windowtext 2.25pt;border-top:solid windowtext 1.0pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 10,146 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="border-bottom:double windowtext 2.25pt;border-top:solid windowtext 1.0pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="28%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Redemptions payable due to related parties:</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">September 30,</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">December 31,</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">2011</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">2010</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Corporate Managing Member</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 993 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="23%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Michael Pacult</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 993 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.75pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="28%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Total redemptions payable due to related parties</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="border-bottom:double windowtext 2.25pt;border-top:solid windowtext 1.0pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,986 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="20%" style="border-bottom:double windowtext 2.25pt;border-top:solid windowtext 1.0pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In the normal course of business, the Fund has provided general indemnifications to the Managing Member, its CTA and others when they act, in good faith, in the best interests of the Fund. The Fund is unable to develop an estimate for future payments resulting from hypothetical claims, but expects the risk of having to make any payments under these indemnifications to be remote.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">Note 7.&#160;&#160;&#160; Concentrations&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Fund will maintain all of its initial subscription deposits with a commercial financial institution.&#160; In the event of the financial institution&#8217;s insolvency, recovery of Fund deposits may be limited to account insurance or other protection afforded deposits by the institution.</font></p> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">Note 8.&#160;&#160;&#160; Trading Activities and Related Risks&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The Fund is engaged in speculative trading of U.S. and foreign futures contracts.&#160; The Fund is exposed to both market risk, the risk arising from changes in market value of the contracts, and credit risk, the risk of failure by another party to perform according to the terms of a contract.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A certain portion of cash in trading accounts are pledged as collateral for futures trading on margin.&#160; Additional deposits may be necessary for any loss on contract value.&#160; The Commodity Exchange Act requires a broker to segregate all customer transactions and assets from such broker&#8217;s proprietary activities.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Each U.S. commodity exchange with the approval of the CFTC establishes minimum margin requirements for each traded contract.&#160; The FCM may increase the margin requirements above these minimums for any or all contracts.&#160; The Fund maintains cash to satisfy these margin requirements. Cash at September 30, 2011 and December 31, 2010 was $1,293,405 and $405, respectively. Based upon the types and amounts of contracts traded and the amount of liquid assets of the Fund, the Managing Member believes there is minimal risk of not being able to meet its margin requirement.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Trading in futures contracts involves entering into contractual commitments to purchase or sell a particular futures contracts at a specified date and price. The gross or face amount of the contract, which is typically many times that of the Fund&#8217;s net assets being traded, significantly exceeds the Fund&#8217;s future cash requirements since the Fund intends to close out its open positions prior to settlement. As a result, the Fund is generally subject only to the risk of loss arising from the change in the value of the contracts. The market risk i limited to the gross or face amount of the face amount of the contracts held on long positions, of which there were none at September 30, 2011 and December 31, 2010. However, when the Fund enters into a contractual commitment to sell commodities, it must make delivery of the underlying commodity at the contract price and then repurchase the contract at prevailing market prices or settle in cash. Since the repurchase price to which a commodity can rise is unlimited, entering into commitments to sell commodities exposes the Fund to unlimited potential risk.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Market risk is influenced by a wide variety of factors including government programs and policies, political and economic events, the level and volatility of interest rates, foreign currency exchange rates, the diversification effects among the derivative instruments the Fund holds and the liquidity and inherent volatility of the markets in which the Fund trades.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; There we no open futures contracts at September 30, 2011 or December 31, 2010.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The following tables disclose the fair values of derivative and hedging activities in the Statements of Assets and Liabilities and the Statements of Operations.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:5.4pt;width:0px;"> <tr style="height:15.75pt;"> <td colspan="10" valign="bottom" width="96%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Derivative Instruments&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b></p> </td> <td width="4%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p></td> </tr><tr style="height:15.75pt;"> <td colspan="10" valign="bottom" width="96%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Statement of Operations</font></b></p> </td> <td width="4%" style="padding:0in 0in 0in 0in;"><p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p></td> </tr><tr style="height:8.25pt;"> <td valign="top" width="21%" style="height:8.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="15%" style="height:8.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="14%" style="height:8.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="6%" style="height:8.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="12%" style="height:8.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="2%" style="height:8.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="14%" style="height:8.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="6%" style="height:8.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="4%" style="height:8.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="2" valign="top" width="6%" style="height:8.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:14.25pt;"> <td nowrap="nowrap" valign="bottom" width="21%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="6%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">For the three</font></p> </td> <td nowrap="nowrap" valign="bottom" width="2%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">For the nine</font></p> </td> <td valign="top" width="6%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="4%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="2" valign="top" width="6%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="21%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td rowspan="2" valign="bottom" width="14%" style="border-bottom:solid black 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Line Item in the Statement of Operations</font></p> </td> <td valign="bottom" width="6%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">months ended</font></p> </td> <td valign="bottom" width="2%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">months ended</font></p> </td> <td valign="top" width="6%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="2" valign="top" width="6%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="21%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="6%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="12%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">September 30, 2011</font></p> </td> <td nowrap="nowrap" valign="bottom" width="2%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="14%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font 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valign="top" width="2%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="14%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="6%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="4%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="2" valign="top" width="6%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:46.5pt;"> <td valign="top" width="21%" style="height:46.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Derivatives not designated as hedge instruments under ASC 815</font></p> </td> <td valign="top" width="15%" style="height:46.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Options on futures contracts</font></p> </td> <td valign="top" width="14%" style="height:46.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Net realized (loss) from investments and foreign currency transactions</font></p> </td> <td valign="top" width="6%" style="height:46.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="12%" style="height:46.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 3,940 </font></p> </td> <td nowrap="nowrap" valign="top" width="2%" style="height:46.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="14%" style="height:46.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font 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style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Credit risk is the possibility that a loss may occur due to the failure of a counter party to perform according to the terms of a contract.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 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The basic market risk control procedures consist of continuously monitoring open positions, diversification of the portfolio and maintenance of a desirable margin-to-equity ratio. 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</font></p> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">Note 9.&#160;&#160;&#160; Derivative Financial Instruments and Fair Value of Financial Instruments&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A derivative financial instrument is a financial agreement whose value is linked to, or derived from, the performance of an underlying asset.&#160; The underlying asset can be currencies, commodities, interest rates, stocks, or any combination.&#160; Changes in the underlying asset indirectly affect the value of the derivative.&#160; As the instruments are recognized at fair value, those changes directly affect reported income.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 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Interest income arising from trading instruments is included in the statement of operations as part of interest income.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Notional amounts are equivalent to the aggregate face value of the derivative financial instruments.&#160; Notional amounts do not represent the amounts exchanged by the parties to derivatives and do not measure the Fund&#8217;s exposure to credit or market risks.&#160; The amounts exchanged are based on the notional amounts and other terms of the derivatives.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">Note 10.&#160; Financial Instruments with Off-Balance Sheet Credit and Market Risk&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; All financial instruments are subject to market risk, the risk that future changes in market conditions may make an instrument less valuable or more onerous.&#160; As the instruments are recognized at fair value, those changes directly affect reported income.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Included in the definition of financial instruments are securities, restricted securities and derivative financial instruments.&#160; Theoretically, the investments owned by the Fund directly are exposed to a market risk (loss) equal to the notional value of the financial instruments purchased and substantial liability on certain financial instruments purchased short.&#160; Generally, financial instruments can be closed.&#160; However, if the market is not liquid, it could prevent the timely close-out of any unfavorable positions or require the Fund to hold those positions to maturity, regardless of the changes in their value or the trading advisor&#8217;s investment strategies.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Credit risk represents the accounting loss that would be recognized at the reporting date if counterparties failed to perform as contracted.&#160; Concentrations of credit risk (whether on or off balance sheet) that arise from financial instruments exist for groups of counterparties when they have similar economic characteristics that would cause their ability to meet contractual obligations to be similarly affected by changes in economic or other conditions.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">Note 11.&#160; Indemnifications&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In the normal course of business, the Fund enters into contracts and agreements that contain a variety of representations and warranties and which provide general indemnifications. The Fund&#8217;s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Fund that have not yet occurred. The Fund expects the risk of any future obligation under these indemnifications to be remote.</font></p> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">Note 12.&#160; Financial Highlights&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p><div align="left"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:5.4pt;width:0px;"> <tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="3" nowrap="nowrap" valign="bottom" width="31%" style="border-bottom:solid windowtext 1.0pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Three Months Ended September 30,</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="3" nowrap="nowrap" valign="bottom" width="31%" style="border-bottom:solid windowtext 1.0pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Nine Months Ended September 30,</font></p> </td> </tr> <tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="border-bottom:solid windowtext 1.0pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">2011</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="border-bottom:solid windowtext 1.0pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">2010</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="border-bottom:solid windowtext 1.0pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">2011</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="border-bottom:solid windowtext 1.0pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">2010</font></p> </td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Performance per unit (1)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:5.1pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:5.1pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:5.1pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:5.1pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:5.1pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:5.1pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:5.1pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:5.1pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:5.1pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.25in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Net unit value, beginning of the period</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160; (144,576.34)</font></p> </td> <td nowrap="nowrap" 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5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160; (98,218.00)</font></p> </td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.25in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Other income</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 10,000.00 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 10,000.00 </font></p> </td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.25in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Expenses</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (6,997.50)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; (15,423.32)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; (28,908.00)</font></p> </td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Net increase (decrease) prior to commencement</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160; of operations (July 7, 2011)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 3,002.50 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; (15,423.32)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; (18,908.00)</font></p> </td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.25in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Reallocation of initial offering costs (see footnote 2)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; 145,576.34 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; 145,576.34 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.25in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Net unit value, initial subscription</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,000.00 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,000.00 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.25in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Absorption of initial offering costs (see footnote 2)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (211.54)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (211.54)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.25in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Net unit value, commencement of operations (July 7, 2011)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 788.46 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 788.46 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.25in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Net realized and unrealized gain (loss) from</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:27.0pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">investments and foreign currency</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 19.35 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 19.35 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.25in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Expenses</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (33.83)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (33.83)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Net increase (decrease) after commencement</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:17.1pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:17.1pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160; of operations</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" 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valign="bottom" width="5%" style="height:17.1pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:17.1pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:6.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:6.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:6.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:6.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:6.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:6.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:6.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:6.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:6.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:45.0pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Net unit value at the end of the period</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="border-bottom:double windowtext 2.25pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 773.98 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="border-bottom:double windowtext 2.25pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160; (117,126.00)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="border-bottom:double windowtext 2.25pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 773.98 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="border-bottom:double windowtext 2.25pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160; (117,126.00)</font></p> </td> </tr> <tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Net assets at the end of the period ($000)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,232 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (234)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,232 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (234)</font></p> </td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Total return (2)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(22.60)%</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(3)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">0.00 %</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(22.60)%</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(3)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">0.00 %</font></p> </td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Number of units outstanding at the end of the period</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,591.250 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 2.000 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,591.250 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 2.000 </font></p> </td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Supplemental Data</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Ratio to average net assets (4)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160; Net investment (loss)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(18.17)%</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(3)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(15.16)%</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(18.17)%</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(3)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(25.92)%</font></p> </td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="34%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160; Expenses</font></p> </td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(18.17)%</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(3)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(23.59)%</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(18.17)%</font></p> </td> <td nowrap="nowrap" valign="bottom" width="5%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(3)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="13%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(35.00)%</font></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Total return was calculated based on the change in value of a unit during the period.&#160; Net realized and unrealized gain (loss) from investments and foreign currency is a balancing amount necessary to reconcile the change in net unit value.&#160; An individual member&#8217;s total returns and ratios may vary from the above total returns and ratios based on the timing of additions and redemptions.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (1) Investment income and expenses and net realized and unrealized gains and losses on future transactions are calculated based on a single unit outstanding during the period.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (2) Not annualized&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (3) Total return and ratios were calculated for the trading period of July 7, 2011 through September 30, 2011.</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (4) Annualized&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <!--DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd" --><p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">Note 13.&#160; Statement of Changes in Net Assets&#160;&#160;&#160;&#160; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:5.4pt;width:0px;"> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="16%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="6%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="7" nowrap="nowrap" valign="bottom" width="56%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Nine Months Ended September 30,</font></p> </td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="16%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="6%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="3" nowrap="nowrap" valign="bottom" width="25%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">2011</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="3" nowrap="nowrap" valign="bottom" width="28%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">2010</font></p> </td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="16%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="6%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="10%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Units</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Net Assets</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Units</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Net Assets</font></p> </td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="16%" 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nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="3" nowrap="nowrap" valign="bottom" width="41%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">(Decrease) in net assets from operations</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="10%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="3" nowrap="nowrap" valign="bottom" width="41%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:27.0pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Net investment (loss)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="10%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p 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5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="3" nowrap="nowrap" valign="bottom" width="41%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:27.0pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Capital contributions from members</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="10%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160; 1,591.250 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font 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style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="2" nowrap="nowrap" valign="bottom" width="25%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Total increase (decrease) in net assets</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="10%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160; 1,589.250 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160; 1,489,908 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -&#160;&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (37,816)</font></p> </td> </tr> <tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="16%" 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nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="3" nowrap="nowrap" valign="bottom" width="41%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:27.0pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">Net assets at the beginning of the period</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="10%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 2.000 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; (258,306)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; 2.000 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="12%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Calibri,sans-serif;font-size:9.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; (196,436)</font></p> </td> </tr> <tr style="height:15.0pt;"> <td colspan="3" 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Amendment Flag Current Fiscal Year End Date Document Fiscal Period Focus Document Fiscal Year Focus Document Period End Date Document Type Entity Central Index Key Entity Common Stock, Shares Outstanding Entity Current Reporting Status Entity Filer Category Entity Public Float Entity Registrant Name Entity Voluntary Filers Entity Well-known Seasoned Issuer Accrued commissions payables (Liabilities) Accrued commissions payables tgf_AccruedCommissionsPayables Accrued management fees (Liabilities) Accrued management fees tgf_AccruedManagementFees Adjustments to reconcile net (decrease) in net assets from (Statement Of Cash Flows) Adjustments to reconcile net (decrease) in net assets from tgf_AdjustmentsToReconcileNetDecreaseInNetAssetsFromAbstract Analysis of net assets (Balance Sheet) Analysis of net assets tgf_AnalysisOfNetAssetsAbstract Cash at broker (Assets: Equity in broker trading accounts) Cash at broker tgf_CashAtBroker Cash, end of period (Statement Of Cash Flows) Cash, end of 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in accrued commissions payable (Adjustments to reconcile net (decrease) in net assets from: operations to net cash (used in) operating activities) Increase in accrued commissions payable tgf_IncreaseInAccruedCommissionsPayable Increase in accrued management fees (Adjustments to reconcile net (decrease) in net assets from: operations to net cash (used in) operating activities) Increase in accrued management fees tgf_IncreaseInAccruedManagementFees Indemnifications (Disclosure) Indemnifications tgf_IndemnificationsTextBlock Management fees (Expenses) Management fees tgf_ManagementFees Managing Member Duties (Disclosure) Managing Member Duties tgf_ManagingMemberDutiesTextBlock Managing member unit (Net increase (decrease) per unit (for a single unit outstanding during the entire period)) Managing member unit tgf_ManagingMemberUnit Managing members (Analysis of net assets) Managing members tgf_ManagingMembers Membership units outstanding (Balance Sheet) Membership units outstanding tgf_MembershipUnitsOutstandingAbstract Nature of the Business (Disclosure) Nature of the Business tgf_NatureOfTheBusinessTextBlock Net assets (Balance Sheet) Net assets tgf_NetAssets Net assets (equivalent to $773.98 and $(129,153.02) per unit) (Balance Sheet) Net assets (equivalent to $773.98 and $(129,153.02) per unit) tgf_NetAssetsEquivalentToAndPerUnit Net (decrease) in net assets resulting from operations (Statement Of Cash Flows) Net (decrease) in net assets resulting from operations tgf_NetDecreaseInNetAssetsResultingFromOperations Net increase (decrease) in net assets resulting from operations (Income Statement) Net increase (decrease) in net assets resulting from operations tgf_NetIncreaseDecreaseInNetAssetsResultingFromOperations Net increase (decrease) per unit (for a single unit outstanding during the entire period) (Income Statement) Net increase (decrease) per unit (for a single unit outstanding during the entire period) tgf_NetIncreaseDecreasePerUnitForSingleUnitOutstandingDuringTheEntirePeriodAbstract Net realized and unrealized (loss) from investments and foreign currency transactions (Income Statement) Net realized and unrealized (loss) from investments and foreign currency transactions tgf_NetRealizedAndUnrealizedLossFromInvestmentsAndForeignCurrencyTransactions Net realized (loss) from (Realized and unrealized (loss) from investments and foreign currency) : Net realized (loss) from: tgf_NetRealizedLossFromAbstract Net realized (loss) from investments and foreign currency transactions (Realized and unrealized (loss) from investments and foreign currency: Net realized (loss) from) Net realized (loss) from investments and foreign currency transactions tgf_NetRealizedLossFromInvestmentsAndForeignCurrencyTransactions Net unrealized appreciation (depreciation) on investments (Realized and unrealized (loss) from investments and foreign currency) Net unrealized appreciation (depreciation) on investments tgf_NetUnrealizedAppreciationDepreciationOnInvestments Non-managing member unit (Net increase (decrease) per unit (for a single unit outstanding during the entire period)) Non-managing member unit tgf_NonmanagingMemberUnit Non-managing members (Analysis of net assets) Non-managing members tgf_NonmanagingMembers operations to net cash (used in) operating activities (Adjustments to reconcile net (decrease) in net assets from) : operations to net cash (used in) operating activities: tgf_OperationsToNetCashUsedInOperatingActivitiesAbstract Redemptions payable (Liabilities) Redemptions payable tgf_RedemptionsPayable Statement of Changes in Net Assets (Disclosure) Statement of Changes in Net Assets tgf_StatementOfChangesInNetAssetsTextBlock The Limited Liability Company ("LLC") Agreement (Disclosure) The Limited Liability Company ("LLC") Agreement tgf_TheLimitedLiabilityCompanyLlcAgreementTextBlock Total cash (Statement Of Cash Flows) Total cash tgf_TotalCash Total equity in broker trading accounts (Assets: Equity in broker trading accounts) Total equity in broker trading accounts tgf_TotalEquityInBrokerTradingAccounts Total membership units outstanding (Balance Sheet) Total membership units outstanding tgf_TotalMembershipUnitsOutstanding Trading Activities and Related Risks (Disclosure) Trading Activities and Related Risks tgf_TradingActivitiesAndRelatedRisksTextBlock Assets Total assets Assets [Abstract] Assets Cash Cash Cash and Cash Equivalents, at Carrying Value Cash Cash and Cash Equivalents, at Carrying Value [Abstract] End of period cash consists of: Cash and Cash Equivalents, Period Increase (Decrease) Increase (decrease) in due to related parties Cash, Cash Equivalents, and Short-term Investments Cash, beginning of period Cash, Period Increase (Decrease) Net increase in cash Concentration Risk Disclosure [Text Block] Concentrations Costs and Expenses Total expenses Effect of Exchange Rate on Cash and Cash Equivalents, Continuing Operations Cash at broker Employee-related Liabilities, Current Due to related parties Gain (Loss) on Investments Net investment gain (loss) General Partners’ Capital Account, Units Outstanding Managing members units outstanding Income Statement [Abstract] Increase (Decrease) in Accrued Liabilities Increase (decrease) in other accrued liabilities Increase (Decrease) in Prepaid Expense (Increase) in prepaid expenses Investment Income, Interest Interest income Investment Income, Net Total investment income Liabilities Total liabilities Liabilities [Abstract] Liabilities Limited Partners’ Capital Account, Units Outstanding Non-managing member units outstanding Net Cash Provided by (Used in) Financing Activities Net cash provided by financing activities Net Cash Provided by (Used in) Financing Activities [Abstract] Cash Flows from Financing Activities Net Cash Provided by (Used in) Operating Activities Net cash (used in) operating activities Operating Cash Flows, Direct Method [Abstract] Cash Flows from Operating Activities Operating Expenses [Abstract] Expenses Other Cost and Expense, Operating Other operating expenses Other Liabilities, Current Other accrued liabilities Other Nonoperating Income (Expense) Other income Prepaid Expense, Current Prepaid expenses Proceeds from Sale of Productive Assets Proceeds from sale of units Professional Fees Professional fees Realized Investment Gains (Losses) Investments Realized Investment Gains (Losses) [Abstract] Realized and unrealized (loss) from investments and foreign currency Related Party Transactions Disclosure [Text Block] Related Party Transactions Significant Accounting Policies [Text Block] Significant Accounting Policies Statement [Line Items] Statement of Cash Flows [Abstract] Statement of Financial Position [Abstract] Statement of Income and Comprehensive Income [Abstract] Investment income Statement [Table] EX-101.PRE 6 tgf-20110930_pre.xml EX-31 7 triview10qa911ex31.txt Exhibit 31.01 CERTIFICATION I, Michael Pacult, hereby certify that: 1. I have reviewed this quarterly report on Form 10-Q of TriView Global Fund, LLC; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the Registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonable likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. By: /s/ Michael Pacult Michael Pacult President of TriView Capital Management, Inc. Managing Member of the Registrant Date: June 14, 2012 EX-32 8 triview10qa911ex32.txt EXHIBIT 32.01 CERTIFICATION BY CHIEF EXECUTIVE OFFICER & CHIEF FINANCIAL OFFICER I, Michael Pacult, the Chief Executive Officer and Chief Financial Officer of TriView Capital Management, Inc. as managing member of TriView Global Fund, LLC, certify that (i) the Form 10-Q for the period ended September 30, 2011 of TriView Global Fund, LLC fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and (ii) the information contained in the Form 10-Q for the period ended September 30, 2011 fairly presents, in all material respects, the financial condition and results of operations of TriView Global Fund, LLC. 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Fees
9 Months Ended
Sep. 30, 2011
Fees

Note 5.    Fees                                                                                                                                       

                                                                                                                                                               

                The Fund was initially charged the following fees after the commencement of trading. 

                                                                                                                                                               

                A monthly management fee of 2.5% (annual rate) paid to the Corporate Managing Member, calculated on the Fund’s prior month-end net assets.  Brokerage commissions to the Fund’s affiliated introducing broker, FIC, of $15 per round turn.

                                                                                                                                                               

                As of September 1, 2011, the Fund no longer paid FIC round turn brokerage  commissions and no longer paid the Corporate Managing Member a management fee.  Instead, the Fund is charged 10% (annual rate) fixed brokerage commissions, paid monthly, calculated on the prior month-end net assets, with 7.5% paid to FIC and 2.5% to the Corporate Managing Member. 

                                                                                                                                                               

                A monthly management fee of 1% (annual rate) paid to GT Capital calculated on the prior month-end equity allocated to it to trade. 

                                                                                                                                                               

                A quarterly incentive fee of 20% of new net profits paid to GT Capital.  In October 2011, the Managing Member allocated approximately 50% of Fund trading equity to a separate program offered by GT Capital maintained in a separate account at the FCM, held in the name of the Fund.  For purposes of calculating the quarterly incentive fee, the net performance of both programs is combined.

                                                                                                                                                               

                The Managing Member has reserved the right to implement a management fee and change the incentive fee at its sole discretion.  The total incentive fees may be increased to 27% if the management fee is zero.  The Fund may also increase the total management fees paid to the CTA’s and Corporate Managing Member to 6% of total net assets if the total incentive fees are decreased to 15%.

                                                                                                                                                               

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The Limited Liability Company ("LLC") Agreement
9 Months Ended
Sep. 30, 2011
The Limited Liability Company ("LLC") Agreement

Note 4.    The Limited Liability Company ("LLC") Agreement                                                                                                                              

                                                                                                                                                               

                The LLC Operating Agreement provides, among other things, that-

                                                                                                                                                               

                Capital Account - A capital account shall be established for each member.  The initial balance of each member’s capital account shall be the amount of the initial contributions to the Fund.

                                                                                                                                                               

                Monthly Allocations - Any increase or decrease in the Fund’s net asset value as of the end of a month shall be credited or charged to the capital account of each Member in the ratio that the balance of each account bears to the total balance of all accounts.

                                                                                                                                                               

                Any distribution from profits or members’ capital will be made solely at the discretion of the Managing Member.

                                                                                                                                                               

                Federal Income Tax Allocations - As of the end of each fiscal year, the Fund’s realized capital gain or loss and ordinary income or loss shall be allocated among the Members, after having given effect to the fees and expenses of the Fund.

                                                                                                                                                               

                Subscriptions - Investors must submit subscription agreements and funds at least five business days prior to month end.  Subscriptions must be accepted or rejected by the Managing Member within five business days.  The investor also has five business days to withdraw his subscription.  Funds are deposited into an interest bearing subscription account and will be transferred to the Fund’s account after the minimum to commence business has been raised and, thereafter, on the first business day of the month after the subscription is accepted.  Interest earned on the subscription funds will accrue to the account of the investor.

                                                                                                                                                               

                Redemptions - A member may request any or all of his investment be redeemed at the net asset value as of the end of a month. Unless this requirement is waived, the written request must be received by the managing member no less than ten business days prior to a month end. Redemptions will generally be paid within twenty days of the effective month end. However, in various circumstances due to liquidity, etc. the Managing Member may be unable to comply with the request on a timely basis. There will be no redemption fee; however there will be a twelve month lock-in commencing from the date of admission of an investment.

                                                                                                                                                               

                                                                                                                                                               

XML 14 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Balance Sheet (USD $)
Sep. 30, 2011
Dec. 31, 2010
Equity in broker trading accounts    
Cash at broker $ 1,211,735 $ 0
Total equity in broker trading accounts 1,211,735 0
Cash 81,670 405
Prepaid expenses 17,883 4,481
Total assets 1,311,288 4,886
Liabilities    
Accrued commissions payables 10,146 0
Accrued management fees 915 0
Other accrued liabilities 1,062 920
Redemptions payable 1,986 0
Due to related parties 65,577 262,272
Total liabilities 79,686 263,192
Net assets 1,231,602 (258,306)
Analysis of net assets    
Non-managing members 1,231,602 (129,153)
Managing members 0 (129,153)
Net assets (equivalent to $773.98 and $(129,153.02) per unit) 1,231,602 (258,306)
Membership units outstanding    
Non-managing member units outstanding 1,591.250 1.000
Managing members units outstanding 0 1.000
Total membership units outstanding $ 1,591.250 $ 2.000
XML 15 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Significant Accounting Policies
9 Months Ended
Sep. 30, 2011
Significant Accounting Policies

Note 2.    Significant Accounting Policies                                                                                                                                             

                                                                                                                                                               

                Offering Expenses and Organizational Costs -  For financial reporting purposes in conformity with accounting principles generally accepted in the United States of America ("GAAP"), on the Fund’s initial effective date, November 3, 2005, the Fund deducted from members’ capital the total initial offering costs of $43,468, as of that date, and began expensing all subsequent offering costs.  Organizational and operating costs are expensed as incurred for GAAP purposes. For all other purposes, including determining the Net Asset Value per Unit for subscription and redemption purposes, the Fund capitalized all offering, organizational and operating costs until commencement of business, July 7, 2011, which totaled $291,153. These costs are expensed and amortized on a straight line basis for 60 months or sooner at the discretion of the Managing Member.

                                                                                                                                                               

                As of September 30, 2011 and December 31, 2010, the Net Asset Value and Net Asset Value per Unit for financial reporting purposes and for all other purposes are as follows:

Balance

Per Unit Calculation

September 30,

December 31,

September 30,

 

December 31,

2011

2010

2011

2010

Net Asset Value for financial reporting purposes

 $   1,231,602

 $              (258,306)

 $                  773.98

 $       (129,153.02)

Adjustment for initial offering costs

            43,468

                     43,468

                       27.32

              21,734.00

Adjustment for other offering, organizational and operating expenses

          233,127

                   216,838

                     146.51

            108,419.02

Net Asset Value for all other purposes

 $   1,508,197

 $                    2,000

 $                  947.81

 $             1,000.00

Number of Units

                  1,591.25

                        2.00

 

                                                                                                               

                                                                                                                                               

                Registration Costs - Costs incurred for the initial filings with SEC, FINRA and the states where the offering is expected to be made are included in the offering expenses and, accordingly, are accounted for as described above under "Offering Expenses and Organizational Costs". 

                                                                                                                                                               

                Revenue Recognition - Forward contracts, futures and other investments are recorded on the trade date and will be reflected in the statement of operations at the difference between the original contract amount and the fair value on the last business day of the reporting period.

                                                                                                                                                               

                Fair value of forward contracts, futures and other investments is based upon exchange or other applicable closing quotations related to the specific positions.

                                                                                                                                                               

                Interest income will be recognized when it is earned.

                                                                                                                                                               

                Other Income - Other income consists of $20,000 of offering and organizational costs which were previously incurred, but were subsequently absorbed in accordance with the S-1, which was approved by the SEC on August 10, 2010.

                                                                                                                                                               

                Foreign Currency - The accounting records of the Fund are denominated in U.S. dollars. Assets and liabilities denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates in effect on the valuation date.  Commodity futures contracts transactions are translated into U.S. dollars at the exchange rates on the dates of such transactions. On the accompanying financial statements, effects of changes in exchange rates from all transactions denominated in currencies other than U.S. dollars are disclosed separately.

                                                                                                                                                               

                Use of Accounting Estimates - The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period.  Actual results could differ from these estimates.

                                                                                                                                                               

                Income Taxes - The Fund is not required to provide a provision for income taxes.  Income tax attributes that arise from its operations are passed directly to the individual members.  The Fund may be subject to state and local taxes in jurisdictions in which it operates.

                                                                                                                                                               

                Management has continued to evaluate the application of Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 740, "Income Taxes" to the Fund and has determined that ASC 740 does not have a material impact on the Fund’s financial statements. The Fund files federal and state tax returns. The 2007 through 2010 tax years generally remain subject to examination for the U.S. federal and most state tax authorities.

               

                                                                                                                                                               

                Statement of Cash Flows - Net cash used in operating activities includes no cash payments for interest or income taxes for the nine months ended September 30, 2011 and 2010.

                                                                                                                                                               

                Reclassifications - Certain prior year amounts were reclassified to conform to current year presentation.                     

                                                                                                                                                               

                Fair Value Measurement and Disclosures - ASC 820 establishes a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels.  The fair value hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).

                Level 1 inputs are unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access at the measurement date. 

                Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly.

                Level 3 inputs are unobservable inputs for an asset or liability, including the Fund’s own assumptions used in determining the fair value of investments.  Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.  As of and for the nine months ended September 30, 2011 and the year ended December 31, 2010, the Fund did not have any Level 3 assets or liabilities.

                                                                                                                                                               

                As of September 30, 2011, the Fund had no level 1 or level 2 inputs.

                                                                                                                                                               

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XML 17 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Managing Member Duties
9 Months Ended
Sep. 30, 2011
Managing Member Duties

Note 3.    Managing Member Duties                                                                                                                                    

                                                                                                                                                               

                The responsibilities of the Managing Member, in addition to directing the trading and investment activity of the Fund, including suspending all trading, includes executing and filing all necessary legal documents, statements and certificates of the Fund, retaining independent public accountants to audit the Fund, employing attorneys to represent the Fund, reviewing the brokerage commission rates to determine reasonableness, maintaining the tax status of the Fund, maintaining a current list of the names, addresses and numbers of units owned by each Member and taking such other actions as deemed necessary to manage the business of the Fund.

                                                                                                                                                               

                If the net unit value of the Fund falls to less than 50% of the greater of the original $1,000 selling price, less commissions and other charges or such higher value earned through trading, then the Managing Member will immediately suspend all trading, provide all members with notice of the reduction in net unit value and give all members the opportunity, for fifteen days after such notice, to redeem Units.  No trading shall commence until after the lapse of such fifteen day period.

                                                                                                                                                               

XML 18 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statements of Operations (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Investment income        
Interest income $ 5 $ 0 $ 5 $ 0
Other income 0 20,000 0 20,000
Total investment income 5 20,000 5 20,000
Expenses        
Commission expense 19,162 0 19,162 0
Management fees 8,556 0 8,556 0
Professional fees 18,750 5,385 38,105 34,958
Other operating expenses 2,651 8,610 14,142 22,858
Total expenses 49,119 13,995 79,965 57,816
Net investment gain (loss) (49,114) 6,005 (79,960) (37,816)
Net realized (loss) from:        
Investments (4,658) 0 (4,658) 0
Foreign currency translation (3,702) 0 (3,702) 0
Net realized (loss) from investments and foreign currency transactions (8,360) 0 (8,360) 0
Net unrealized appreciation (depreciation) on investments 0 0 0 0
Net realized and unrealized (loss) from investments and foreign currency transactions (8,360) 0 (8,360) 0
Net increase (decrease) in net assets resulting from operations (57,474) 6,005 (88,320) (37,816)
Net increase (decrease) per unit (for a single unit outstanding during the entire period)        
Non-managing member unit (14.48) 3,002.50 (15,437.80) (18,908.00)
Managing member unit $ 0 $ 3,002.50 $ 0 $ (18,908.00)
XML 19 R17.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statement of Changes in Net Assets
9 Months Ended
Sep. 30, 2011
Statement of Changes in Net Assets

Note 13.  Statement of Changes in Net Assets    

                                                                                                                               

Nine Months Ended September 30,

2011

2010

Units

Net Assets

Units

Net Assets

(Decrease) in net assets from operations

Net investment (loss)

 $      (79,960)

 $      (37,816)

Net realized (loss) from investments and foreign currency transactions

           (8,360)

                    -  

Net (decrease) in net assets resulting from operations

         (88,320)

         (37,816)

Capital contributions from members

  1,591.250

     1,580,214

                    -  

Redemptions by members

        (2.000)

           (1,986)

              -  

                    -  

Total increase (decrease) in net assets

  1,589.250

     1,489,908

              -  

         (37,816)

Net assets at the beginning of the period

         2.000

       (258,306)

        2.000

       (196,436)

Net assets at the end of the period

  1,591.250

 $  1,231,602

        2.000

 $    (234,252)

 

XML 20 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
Document and Entity Information (USD $)
9 Months Ended
Sep. 30, 2011
Document and Entity Information [Abstract]  
Document Type 10-Q
Amendment Flag false
Document Period End Date Sep. 30, 2011
Document Fiscal Year Focus 2011
Document Fiscal Period Focus Q3
Entity Registrant Name TriView Global Fund, LLC
Entity Central Index Key 0001305631
Current Fiscal Year End Date --12-31
Entity Filer Category Non-accelerated Filer
Entity Public Float $ 0
Entity Common Stock, Shares Outstanding 0
Entity Well-known Seasoned Issuer No
Entity Voluntary Filers No
Entity Current Reporting Status Yes
XML 21 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statements of Cash Flows (USD $)
9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Cash Flows from Operating Activities    
Net (decrease) in net assets resulting from operations $ (88,320) $ (37,816)
operations to net cash (used in) operating activities:    
(Increase) in prepaid expenses (13,402) (4,702)
Increase in accrued commissions payable 10,146 0
Increase in accrued management fees 915 0
Increase (decrease) in other accrued liabilities 142 (3,817)
Net cash (used in) operating activities (90,519) (46,335)
Cash Flows from Financing Activities    
Increase (decrease) in due to related parties (196,695) 46,500
Proceeds from sale of units 1,580,214 0
Net cash provided by financing activities 1,383,519 46,500
Net increase in cash 1,293,000 165
Cash, beginning of period 405 363
Cash, end of period 1,293,405 528
End of period cash consists of:    
Cash at broker 1,211,735 0
Cash 81,670 528
Total cash $ 1,293,405 $ 528
XML 22 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
Trading Activities and Related Risks
9 Months Ended
Sep. 30, 2011
Trading Activities and Related Risks

Note 8.    Trading Activities and Related Risks                                                                                                                     

                                                                                                                                                               

                The Fund is engaged in speculative trading of U.S. and foreign futures contracts.  The Fund is exposed to both market risk, the risk arising from changes in market value of the contracts, and credit risk, the risk of failure by another party to perform according to the terms of a contract.

                                                                                                                                                               

                A certain portion of cash in trading accounts are pledged as collateral for futures trading on margin.  Additional deposits may be necessary for any loss on contract value.  The Commodity Exchange Act requires a broker to segregate all customer transactions and assets from such broker’s proprietary activities.

                                                                                                                                                               

                Each U.S. commodity exchange with the approval of the CFTC establishes minimum margin requirements for each traded contract.  The FCM may increase the margin requirements above these minimums for any or all contracts.  The Fund maintains cash to satisfy these margin requirements. Cash at September 30, 2011 and December 31, 2010 was $1,293,405 and $405, respectively. Based upon the types and amounts of contracts traded and the amount of liquid assets of the Fund, the Managing Member believes there is minimal risk of not being able to meet its margin requirement.

                                                                                                                                                               

                Trading in futures contracts involves entering into contractual commitments to purchase or sell a particular futures contracts at a specified date and price. The gross or face amount of the contract, which is typically many times that of the Fund’s net assets being traded, significantly exceeds the Fund’s future cash requirements since the Fund intends to close out its open positions prior to settlement. As a result, the Fund is generally subject only to the risk of loss arising from the change in the value of the contracts. The market risk i limited to the gross or face amount of the face amount of the contracts held on long positions, of which there were none at September 30, 2011 and December 31, 2010. However, when the Fund enters into a contractual commitment to sell commodities, it must make delivery of the underlying commodity at the contract price and then repurchase the contract at prevailing market prices or settle in cash. Since the repurchase price to which a commodity can rise is unlimited, entering into commitments to sell commodities exposes the Fund to unlimited potential risk.

                                                                                                                                                               

                Market risk is influenced by a wide variety of factors including government programs and policies, political and economic events, the level and volatility of interest rates, foreign currency exchange rates, the diversification effects among the derivative instruments the Fund holds and the liquidity and inherent volatility of the markets in which the Fund trades.

                                                                                                                                                               

                There we no open futures contracts at September 30, 2011 or December 31, 2010.

                                                                                                                                                               

                The following tables disclose the fair values of derivative and hedging activities in the Statements of Assets and Liabilities and the Statements of Operations.

                                                                                                                                                               

Derivative Instruments       

 

Statement of Operations

 

For the three

For the nine

Line Item in the Statement of Operations

months ended

months ended

September 30, 2011

September 30, 2011

Derivatives not designated as hedge instruments under ASC 815

  Futures contracts

Net realized (loss) from investments and foreign currency transactions

 $                   (12,300)

 $                   (12,300)

Derivatives not designated as hedge instruments under ASC 815

Options on futures contracts

Net realized (loss) from investments and foreign currency transactions

 $                       3,940

 $                       3,940

                                                                                                                                                                                                                                                                                               

                                                                                                                                                               

                Credit risk is the possibility that a loss may occur due to the failure of a counter party to perform according to the terms of a contract.

                                                                                                                                                               

                The Fund has a substantial portion of its assets on deposit with financial institutions. In the event of a financial institution’s insolvency, recovery of Fund deposits may be limited to account insurance or other protection afforded deposits.

                                                                                                                                                               

                The Fund has established procedures to actively monitor market risk and minimize credit risk although there can be no assurance that it will succeed. The basic market risk control procedures consist of continuously monitoring open positions, diversification of the portfolio and maintenance of a desirable margin-to-equity ratio. The Fund seeks to minimize credit risk primarily by depositing and maintaining its assets at financial institutions and brokers which it believes to be creditworthy.

                                                                                                                                                               

XML 23 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
Concentrations
9 Months Ended
Sep. 30, 2011
Concentrations

Note 7.    Concentrations                                                                                                                                       

                                                                                                                                                               

                The Fund will maintain all of its initial subscription deposits with a commercial financial institution.  In the event of the financial institution’s insolvency, recovery of Fund deposits may be limited to account insurance or other protection afforded deposits by the institution.

XML 24 R15.htm IDEA: XBRL DOCUMENT v2.4.0.6
Indemnifications
9 Months Ended
Sep. 30, 2011
Indemnifications

Note 11.  Indemnifications                                                                                                                                    

                                                                                                                                                               

                In the normal course of business, the Fund enters into contracts and agreements that contain a variety of representations and warranties and which provide general indemnifications. The Fund’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Fund that have not yet occurred. The Fund expects the risk of any future obligation under these indemnifications to be remote.

XML 25 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
Derivative Financial Instruments and Fair Value of Financial Instruments
9 Months Ended
Sep. 30, 2011
Derivative Financial Instruments and Fair Value of Financial Instruments

Note 9.    Derivative Financial Instruments and Fair Value of Financial Instruments                                                                         

                                                                                                                                                               

                A derivative financial instrument is a financial agreement whose value is linked to, or derived from, the performance of an underlying asset.  The underlying asset can be currencies, commodities, interest rates, stocks, or any combination.  Changes in the underlying asset indirectly affect the value of the derivative.  As the instruments are recognized at fair value, those changes directly affect reported income.

                                                                                                                                                               

                All investment holdings are recorded in the statement of assets and liabilities at their net asset value (fair value) at the reporting date.  Financial instruments (including derivatives) used for trading purposes are recorded in the statement of assets and liabilities at fair value at the reporting date.  Realized and unrealized changes in fair values are recognized in net investment gain (loss) in the period in which the changes occur.  Interest income arising from trading instruments is included in the statement of operations as part of interest income.

                                                                                                                                                               

                Notional amounts are equivalent to the aggregate face value of the derivative financial instruments.  Notional amounts do not represent the amounts exchanged by the parties to derivatives and do not measure the Fund’s exposure to credit or market risks.  The amounts exchanged are based on the notional amounts and other terms of the derivatives.

                                                                                                                                                               

XML 26 R14.htm IDEA: XBRL DOCUMENT v2.4.0.6
Financial Instruments with Off-Balance Sheet Credit and Market Risk
9 Months Ended
Sep. 30, 2011
Financial Instruments with Off-Balance Sheet Credit and Market Risk

Note 10.  Financial Instruments with Off-Balance Sheet Credit and Market Risk                                                                                              

                                                                                                                                                               

                All financial instruments are subject to market risk, the risk that future changes in market conditions may make an instrument less valuable or more onerous.  As the instruments are recognized at fair value, those changes directly affect reported income.

                                                                                                                                                               

                Included in the definition of financial instruments are securities, restricted securities and derivative financial instruments.  Theoretically, the investments owned by the Fund directly are exposed to a market risk (loss) equal to the notional value of the financial instruments purchased and substantial liability on certain financial instruments purchased short.  Generally, financial instruments can be closed.  However, if the market is not liquid, it could prevent the timely close-out of any unfavorable positions or require the Fund to hold those positions to maturity, regardless of the changes in their value or the trading advisor’s investment strategies.

                Credit risk represents the accounting loss that would be recognized at the reporting date if counterparties failed to perform as contracted.  Concentrations of credit risk (whether on or off balance sheet) that arise from financial instruments exist for groups of counterparties when they have similar economic characteristics that would cause their ability to meet contractual obligations to be similarly affected by changes in economic or other conditions.

                                                                                                                                                               

XML 27 R16.htm IDEA: XBRL DOCUMENT v2.4.0.6
Financial Highlights
9 Months Ended
Sep. 30, 2011
Financial Highlights

Note 12.  Financial Highlights                                                                                                               

Three Months Ended September 30,

Nine Months Ended September 30,

2011

2010

2011

2010

Performance per unit (1)

Net unit value, beginning of the period

 $  (144,576.34)

 $  (120,128.50)

 $  (129,153.02)

 $    (98,218.00)

Other income

 $                    -  

         10,000.00

         10,000.00

Expenses

                        -  

          (6,997.50)

        (15,423.32)

        (28,908.00)

Net increase (decrease) prior to commencement

    of operations (July 7, 2011)

                        -  

           3,002.50

        (15,423.32)

        (18,908.00)

Reallocation of initial offering costs (see footnote 2)

       145,576.34

       145,576.34

Net unit value, initial subscription

           1,000.00

           1,000.00

Absorption of initial offering costs (see footnote 2)

             (211.54)

             (211.54)

Net unit value, commencement of operations (July 7, 2011)

               788.46

               788.46

Net realized and unrealized gain (loss) from

investments and foreign currency

                 19.35

                 19.35

Expenses

               (33.83)

               (33.83)

Net increase (decrease) after commencement

    of operations

               (14.48)

               (14.48)

Net unit value at the end of the period

 $           773.98

 $  (117,126.00)

 $           773.98

 $  (117,126.00)

Net assets at the end of the period ($000)

 $              1,232

 $               (234)

 $              1,232

 $               (234)

Total return (2)

(22.60)%

(3)

0.00 %

(22.60)%

(3)

0.00 %

Number of units outstanding at the end of the period

         1,591.250

                 2.000

         1,591.250

                 2.000

Supplemental Data

Ratio to average net assets (4)

  Net investment (loss)

(18.17)%

(3)

(15.16)%

(18.17)%

(3)

(25.92)%

  Expenses

(18.17)%

(3)

(23.59)%

(18.17)%

(3)

(35.00)%

                                                                                                                               

                Total return was calculated based on the change in value of a unit during the period.  Net realized and unrealized gain (loss) from investments and foreign currency is a balancing amount necessary to reconcile the change in net unit value.  An individual member’s total returns and ratios may vary from the above total returns and ratios based on the timing of additions and redemptions.

                                                                                                                               

                (1) Investment income and expenses and net realized and unrealized gains and losses on future transactions are calculated based on a single unit outstanding during the period.

                                                                                                                               

                (2) Not annualized                                                                                                 

                                                                                                                               

                (3) Total return and ratios were calculated for the trading period of July 7, 2011 through September 30, 2011.

                                                                                                                               

                (4) Annualized                                                                                                       

                                                                                                                               

XML 28 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Nature of the Business
9 Months Ended
Sep. 30, 2011
Nature of the Business

Note 1.    Nature of the Business                                                                                                                                          

                                                                                                                                                               

                TriView Global Fund, LLC (the "Fund") was formed on October 1, 2004 under the laws of the State of Delaware.  The Fund is engaged in high risk, speculative and hedge trading of futures and forward contracts, options on futures and forward contracts, and other instruments selected by registered commodity trading advisors ("CTA’s").  On July 7, 2011, the Fund commenced business after admission of 26 members, with total subscriptions of $1,374,333 at a price of $1,000 per Unit.  Through September 30, 2011 additional capital contributions from members of $205,881 were received. The maximum offering is $20,000,000.  TriView Capital Management, Inc. (the "Corporate Managing Member") and Michael Pacult (the "Individual Managing Member" and collectively the "Managing Member") are the managing members and commodity pool operators ("CPO’s") of the Fund.  The CTA is GT Capital CTA ("GT Capital"), which has the authority to trade as much of the Fund’s equity as is allocated to it by the Managing Member. The selling agent and introducing broker is Futures Investment Company ("FIC"), which is owned and operated by Michael Pacult and his wife. 

                                                                                                                                                               

                Regulation - The Fund is a registrant with the Securities and Exchange Commission ("SEC") pursuant to the Securities Act of 1933.  The Fund is subject to the regulations of the SEC and the reporting requirements of the Securities and Exchange Act of 1934, and of the rules and regulations of the Financial Industry Regulation Authority ("FINRA").  The Fund is also be subject to the regulations of the Commodities Futures Trading Commission ("CFTC"), an agency of the U.S. government, which regulates most aspects of the commodity futures industry, the rules of the National Futures Association and the requirements of various commodity exchanges where the Fund executes transactions. Additionally, the Fund is subject to the requirements of futures commission merchants ("FCM’s") and interbank market makers through which the Fund trades.

                                                                                                                                                               

XML 29 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
Related Party Transactions
9 Months Ended
Sep. 30, 2011
Related Party Transactions

Note 6.    Related Party Transactions                                                                                                                                   

                                                                                                                                                               

                The sole shareholder of the Corporate Managing Member made an initial member capital contribution in the Fund of $1,000.  He is also the sole shareholder of TriView Capital Management, Inc., which along with the shareholder and other affiliates, has temporarily funded the syndication costs incurred by the Fund to date.  A variable interest entity relationship existed between the Corporate Managing Member and the Fund until July 7, 2011 when the Fund commenced business.  The Corporate Managing Member redeemed its interest July 31, 2011.

                                                                                                                                                               

                In the normal course of business, the Fund has provided general indemnifications to the Managing Member, its CTA’s and others when they act, in good faith, in the best interests of the Fund. The Fund is unable to develop an estimate for future payments resulting from hypothetical claims, but expects the risk of having to make any payments under these indemnifications to be remote.

                                                                                                                                                               

                Due to related parties at September 30, 2011 and December 31, 2010 consisted of amounts due to the Corporate Managing Member, TriView Capital Management, Inc., FIC, and Michael Pacult, President of FIC, the Corporate Managing Member and TriView Capital Management, Inc.  The balances result from offering, organizational and operating costs paid by the related parties on behalf of the Fund and cash advances.  These amounts bear no interest or due dates and are unsecured.  The following balances were outstanding as of September 30, 2011 and December 31, 2010:

 

September 30,

December 31,

2011

2010

FIC

 $                  65,576

 $                194,108

Ashley Capital Management, Inc.

                              -  

                     26,475

Corporate Managing Member

                               1

                       1,958

Michael Pacult

                              -  

                     39,731

Balance due to related parties

 $                  65,577

 $                262,272

                                                                                                                                                               

                                                                                                                                               

                The Fund pays commissions to the Corporate Managing Member and Futures Investment Company, the introducing broker.  These related parties are 100% and 50%, respectively, owned by Michael Pacult.  Related party commissions and management fees were as follows:

               

Commissions included in expenses:

For The Nine Months Ended September 30,

2011

2010

Corporate Managing Member

 $                    2,750

 $                           -  

Futures Investment Company

                     13,344

                              -  

Total related party expenses

 $                  16,094

 $                           -  

Management fees included in expenses:

For The Nine Months Ended September 30,

2011

2010

Corporate Managing Member

 $                    5,706

 $                           -  

Total related party expenses

 $                    5,706

 $                           -  

Commissions included in accrued expenses:

September 30,

December 31,

2011

2010

Corporate Managing Member

 $                    2,750

 $                           -  

Futures Investment Company

                       7,396

                              -  

Total accrued commissions payable to related parties

 $                  10,146

 $                           -  

Redemptions payable due to related parties:

September 30,

December 31,

2011

2010

Corporate Managing Member

 $                       993

 $                           -  

Michael Pacult

                          993

                              -  

Total redemptions payable due to related parties

 $                    1,986

 $                           -  

                                                                                                                                               

                                                                                                                                               

                In the normal course of business, the Fund has provided general indemnifications to the Managing Member, its CTA and others when they act, in good faith, in the best interests of the Fund. The Fund is unable to develop an estimate for future payments resulting from hypothetical claims, but expects the risk of having to make any payments under these indemnifications to be remote.

                                                                                                                                                               

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