0001305631-12-000016.txt : 20120614 0001305631-12-000016.hdr.sgml : 20120614 20120614150834 ACCESSION NUMBER: 0001305631-12-000016 CONFORMED SUBMISSION TYPE: 10-K/A PUBLIC DOCUMENT COUNT: 8 CONFORMED PERIOD OF REPORT: 20111231 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-K/A SEC ACT: 1934 Act SEC FILE NUMBER: 333-119655 FILM NUMBER: 12907413 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-K/A 1 triview10ka2011.txt FORM 10-K/A SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT OF 1934 For the year ended 12-31-2011 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 (I.R.S. Employer incorporation or organization Identification No.) 505 Brookfield Drive, Dover, DE 19901 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (800) 331-1532 Securities registered pursuant to Section 12(b) of the Act: Title of each class Name of each exchange on which registered None None Securities registered pursuant to Section 12(g) of the Act: Units of Membership Interest (Title of class) Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes [ ] No [X] Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes [ ] No [X] 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 (S 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 [ ] N/A Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (S 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K. [ ] 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 definitions 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] (Do not check if a smaller reporting company) 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] State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter.: Not applicable. There is no market for the Units of Membership Interests and none is expected to develop. This is a commodity pool. The Units are registered to permit the initial sale of Units at month end net asset value. EXPLANATORY NOTE This Amendment to the Annual Report on Form 10-K/A (the "Amendment") amends the Annual Report on Form 10-K of TriView Global Fund, LLC (the "Fund") for the year ended December 31, 2012 (the "Original Filing"), that was originally filed with the U.S. Securities and Exchange Commission on March 30, 2012. 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. 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-K for the period ended December 31, 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 Date: June 14, 2012 By: /s/ Michael Pacult Mr. Michael P. Pacult Sole Director, Sole Shareholder President and Treasurer EX-101.INS 2 tgf-20111231.xml 0001305631 2011-01-01 2011-12-31 0001305631 2011-12-31 0001305631 2010-12-31 0001305631 2010-01-01 2010-12-31 0001305631 2009-01-01 2009-12-31 0001305631 2009-12-31 iso4217:USD xbrli:shares 10-K false 2011-12-31 2011 FY TRIVIEW GLOBAL FUND, LLC 0001305631 --12-31 Non-accelerated Filer 0 0 No No Yes 1255856 0 -7430 0 1248426 0 296104 405 12314 4481 1556844 4886 16902 920 0 262272 16902 263192 1539942 -258306 1539942 -129153 0 -129153 1539942 -258306 1948.597 1.000 0 1.000 1948.597 2.000 6 0 0 0 20000 0 6 20000 0 60295 0 0 12103 0 0 2438 0 0 64855 45006 29866 13127 36864 6738 152818 81870 36604 -152812 -61870 -36604 46297 0 0 -3567 0 0 42730 0 0 -7430 0 0 35300 0 0 -117512 -61870 -36604 1.82 -30935.02 -18302.00 -7833 2309 -6790 7430 0 0 15982 -2897 3573 -101933 -62458 -39821 -262272 62500 39750 2155371 0 0 -239611 0 0 1653488 62500 39750 1551555 42 -71 405 363 434 1551960 405 363 1255856 0 0 363 1551960 405 363 <!--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:11.0pt;">Note 1. 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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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:11.0pt;">&#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 December 31, 2011 additional capital contributions from members of $781,038 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; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#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 and regulated by commodity exchanges and by exchange markets that may be traded by the advisor.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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> <!--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:11.0pt;">Note 2. 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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; As of December 31, 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:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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> <div align="left"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:4.65pt;width:0px;"> <tr style="height:15.0pt;"> <td valign="bottom" width="30%" 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="31%" 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:Arial,sans-serif;font-size:12.0pt;">Balance</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="33%" 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:Arial,sans-serif;font-size:12.0pt;">Per Unit Calculation</font></p> </td> </tr> <tr style="height:15.0pt;"> <td valign="bottom" width="30%" 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="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:Arial,sans-serif;font-size:12.0pt;">December 31,</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="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:Arial,sans-serif;font-size:12.0pt;">December 31,</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:Arial,sans-serif;font-size:12.0pt;">December 31,</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" 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:Arial,sans-serif;font-size:12.0pt;">&#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:Arial,sans-serif;font-size:12.0pt;">December 31,</font></p> </td> </tr> <tr style="height:15.0pt;"> <td valign="bottom" width="30%" 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="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 style="font-family:Arial,sans-serif;font-size:12.0pt;">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="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 style="font-family:Arial,sans-serif;font-size:12.0pt;">2010</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="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p 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nowrap="nowrap" valign="bottom" width="3%" style="height:33.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:33.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160; (129,153.02)</font></p> </td> </tr> <tr style="height:6.95pt;"> <td valign="bottom" width="30%" style="height:6.95pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:6.95pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:6.95pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:6.95pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:6.95pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:6.95pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:6.95pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:6.95pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:6.95pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:15.0pt;"> <td valign="bottom" width="30%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:12.0pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Adjustment for initial offering costs</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="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 43,468 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style="height:6.95pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:6.95pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr> <tr style="height:19.5pt;"> <td width="30%" style="height:19.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:12.0pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Net Asset Value for all other purposes</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:19.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" style="height:19.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><u><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160; 1,796,875 </font></u></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:19.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="14%" 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style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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:11.0pt;">&#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:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 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 &quot;Offering Expenses and Organizational Costs&quot;.&#160; 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style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Fair value of forward contracts, futures and other investments is based upon exchange or other applicable closing quotations related to the specific positions.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Interest income will be recognized when it is earned.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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). &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#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; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#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 year ended December 31, 2011 and 2010, the Fund did not have any Level 3 assets or liabilities.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The following table sets forth by level within the fair value hierarchy the Fund&#8217;s investments accounted for at fair value on a recurring basis as of December 31, 2011.&#160; There were no investments as of December 31, 2010.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:4.65pt;width:0px;"> <tr style="height:15.75pt;"> <td colspan="9" valign="bottom" width="100%" 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;"><b><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Fair Value at December 31, 2011</font></b></p> </td> </tr> <tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="31%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><u><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Description</font></u></b><b><font style="font-family:Arial,sans-serif;font-size:12.0pt;"> </font></b></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="13%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><u><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Level 1</font></u></b></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><u><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;</font></u></b></p> </td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><u><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Level 2</font></u></b></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><u><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;</font></u></b></p> </td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><u><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Level 3</font></u></b></p> </td> <td nowrap="nowrap" valign="bottom" width="2%" 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;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><b><u><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Total</font></u></b></p> </td> </tr> <tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="31%" 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="13%" 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="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="15%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="2%" 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> </tr> <tr style="height:15.0pt;"> <td colspan="2" 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:Arial,sans-serif;font-size:12.0pt;">Exchange Traded - Futures Contracts</font></p> </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:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160; (7,430)</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="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:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; - </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;$&#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="2%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160; (7,430)</font></p> </td> </tr> <tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="31%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Total&#160; </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="13%" style="border-bottom:double windowtext 2.25pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160; (7,430)</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="15%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; - </font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="border-bottom:double windowtext 2.25pt;height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;$&#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="2%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160; (7,430)</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:11.0pt;">&#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:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Income Taxes - The Fund prepares calendar year U.S. Federal and applicable state information tax returns and reports to the partners their allocable shares of the Fund&#8217;s income, expenses and trading gains or losses. No provision for income taxes has been made in the accompanying financial statements as each partner is individually responsible for reporting income or loss based on such partner&#8217;s respective share of the Fund&#8217;s income and expenses as reported for income tax purposes.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#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 2008 through 2011 tax years generally remain subject to examination for the U.S. federal and most state tax authorities.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Statement of Cash Flows - For the purposes of the Statement of Cash Flows, the Fund considers all short-term investments with an original maturity of three months or less to be cash equivalents.&#160; Net cash used in operating activities includes no cash payments for interest or income taxes for the years ended December 31, 2011, 2010 or 2009.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#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. &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Reclassifications - Prior year investment and other income ratios to average net assets were reclassified to investment income (loss) to average net assets 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;&#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:11.0pt;">&#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:11.0pt;">Note 3. 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;&#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:11.0pt;">&#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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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; </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:11.0pt;">Note 4. 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;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The LLC Operating Agreement provides, among other things, that- &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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; </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:11.0pt;">Note 5. 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;&#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:11.0pt;">&#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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A monthly management fee of 1% (annual rate) paid to GT Capital calculated on the prior month-end equity allocated to it to trade. &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; A quarterly incentive fee of 20% of new net profits paid to GT Capital.&#160; 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.&#160; For purposes of calculating the quarterly incentive fee, the net performance of both programs is combined.&#160; The incentive fee for the year ended December 31, 2011 was $2,438.&#160; There were no incentive fees for the years ended December 31, 2010 and 2009.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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%. &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">Note 6. 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; </font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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:11.0pt;">&#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. &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#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. &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Due to related parties at 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 cash advances were all repaid in 2011. The following balances were outstanding as of December 31, 2010.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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> <div align="left"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:4.65pt;width:0px;"> <tr style="height:15.0pt;"> <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="17%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="17%" 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="27%" 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:Arial,sans-serif;font-size:12.0pt;">December 31,</font></p> </td> </tr> <tr style="height:15.0pt;"> <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="17%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="17%" 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="27%" 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:Arial,sans-serif;font-size:12.0pt;">2010</font></p> </td> </tr> <tr style="height:9.75pt;"> <td nowrap="nowrap" valign="bottom" width="20%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="17%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="17%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="27%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="37%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Futures Investment Company</font></p> </td> <td nowrap="nowrap" valign="bottom" width="17%" 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="27%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 194,108 </font></p> </td> </tr><tr style="height:15.0pt;"> <td colspan="3" nowrap="nowrap" valign="bottom" width="54%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Ashley Capital Management, Inc.</font></p> </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="27%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 26,475 </font></p> </td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="37%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Corporate Managing Member</font></p> </td> <td nowrap="nowrap" valign="bottom" width="17%" 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="27%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,958 </font></p> </td> </tr><tr style="height:17.25pt;"> <td nowrap="nowrap" valign="bottom" width="20%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Michael Pacult</font></p> </td> <td nowrap="nowrap" valign="bottom" width="17%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="17%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="27%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><u><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 39,731 </font></u></p> </td> </tr> <tr style="height:6.95pt;"> <td nowrap="nowrap" valign="bottom" width="20%" style="height:6.95pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="17%" style="height:6.95pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="17%" style="height:6.95pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:6.95pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="27%" style="height:6.95pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:17.25pt;"> <td colspan="3" nowrap="nowrap" valign="bottom" width="54%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:48.0pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Balance due to related parties</font></p> </td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="27%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><u><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 262,272 </font></u></p> </td> </tr> </table></div> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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:11.0pt;">&#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:&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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> <div align="left"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:4.65pt;width:0px;"> <tr style="height:15.0pt;"> <td colspan="3" nowrap="nowrap" valign="bottom" width="57%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Commissions included in expenses:</font></p> </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="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:Arial,sans-serif;font-size:12.0pt;">&#160;For The Year Ended </font></p> </td> </tr><tr style="height:15.0pt;"> <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="19%" 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="19%" 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:Arial,sans-serif;font-size:12.0pt;">December 31,</font></p> </td> </tr> <tr style="height:15.0pt;"> <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="19%" 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="19%" 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:Arial,sans-serif;font-size:12.0pt;">2011</font></p> </td> </tr> <tr style="height:8.25pt;"> <td nowrap="nowrap" valign="bottom" width="19%" style="height:8.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:8.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:8.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:8.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" style="height:8.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="38%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Corporate Managing Member</font></p> </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="19%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 12,474 </font></p> </td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="38%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Futures Investment Company</font></p> </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="19%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 40,958 </font></p> </td> </tr><tr style="height:15.75pt;"> <td colspan="3" nowrap="nowrap" valign="bottom" width="57%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:48.0pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Total related party expenses</font></p> </td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 53,432 </font></p> </td> </tr><tr style="height:12.75pt;"> <td nowrap="nowrap" valign="bottom" width="19%" style="height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" style="height:12.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="3" nowrap="nowrap" valign="bottom" width="57%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Management fees included in expenses:</font></p> </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="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:Arial,sans-serif;font-size:12.0pt;">&#160;For The Year Ended </font></p> </td> </tr><tr style="height:15.0pt;"> <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="19%" 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="19%" 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:Arial,sans-serif;font-size:12.0pt;">December 31,</font></p> </td> </tr> <tr style="height:15.0pt;"> <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="19%" 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="19%" 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:Arial,sans-serif;font-size:12.0pt;">2011</font></p> </td> </tr> <tr style="height:9.0pt;"> <td nowrap="nowrap" valign="bottom" width="19%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="38%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Corporate Managing Member</font></p> </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="19%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 5,706 </font></p> </td> </tr><tr style="height:15.75pt;"> <td colspan="3" nowrap="nowrap" valign="bottom" width="57%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:48.0pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Total related party expenses</font></p> </td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 5,706 </font></p> </td> </tr><tr style="height:10.5pt;"> <td nowrap="nowrap" valign="bottom" width="19%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="3" nowrap="nowrap" valign="bottom" width="57%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Commissions included in accrued expenses:</font></p> </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="24%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <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="19%" 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="19%" 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:Arial,sans-serif;font-size:12.0pt;">December 31,</font></p> </td> </tr> <tr style="height:15.0pt;"> <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="19%" 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="19%" 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:Arial,sans-serif;font-size:12.0pt;">2011</font></p> </td> </tr> <tr style="height:7.5pt;"> <td nowrap="nowrap" valign="bottom" width="19%" style="height:7.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:7.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:7.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="19%" style="height:7.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="24%" style="height:7.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="38%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Corporate Managing Member</font></p> </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="19%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 3,270 </font></p> </td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="38%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Futures Investment Company</font></p> </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="19%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 3,347 </font></p> </td> </tr><tr style="height:16.5pt;"> <td colspan="4" nowrap="nowrap" valign="bottom" width="76%" style="height:16.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:48.0pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Total accrued commissions payable to related parties</font></p> </td> <td nowrap="nowrap" valign="bottom" width="24%" style="border-bottom:double windowtext 2.25pt;border-top:solid windowtext 1.0pt;height:16.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 6,617 </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:11.0pt;">&#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:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Other operating expense includes $3,721 paid to Futures Investment Corporation for postage and office supplies.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">Note 7. 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;&#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:11.0pt;">&#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:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#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 and cash equivalents to satisfy these margin requirements. Cash and cash equivalents at December 31, 2011 was $1,551,960. 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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#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 is limited to the gross or face amount of the contracts held on long positions, of which there were approximately $26,901 at December 31, 2011 and none at 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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; The net unrealized loss on open futures contracts at December 31, 2011 was $7,430.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Open contracts generally mature within three months of December 31, 2011.&#160; The latest maturity for open futures contracts is February 2012.&#160; However, the Fund intends to close all contracts prior to maturity.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; There we no open futures contracts at December 31, 2010.&#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:11.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:4.65pt;width:0px;"> <tr style="height:28.5pt;"> <td nowrap="nowrap" valign="bottom" width="6%" style="height:28.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="11" valign="bottom" width="94%" style="height:28.5pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">The following tables discloses the fair values of derivative and hedging activities in the Statements of Assets and Liabilities and the Statements of Operations.</font></p> </td> </tr><tr style="height:20.25pt;"> <td nowrap="nowrap" valign="bottom" width="6%" style="height:20.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="16%" style="height:20.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="3%" style="height:20.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="9%" style="height:20.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="3%" style="height:20.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="17%" style="height:20.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="3%" style="height:20.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="14%" style="height:20.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="3%" style="height:20.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="15%" style="height:20.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="2%" style="height:20.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="9%" style="height:20.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="6%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="11" valign="bottom" width="94%" 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:Arial,sans-serif;font-size:12.0pt;">Derivative Instruments&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b></p> </td> </tr> <tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="6%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="11" valign="bottom" width="94%" 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:Arial,sans-serif;font-size:12.0pt;">Statement of Assets and Liabilities</font></b></p> </td> </tr> <tr style="height:9.0pt;"> <td nowrap="nowrap" valign="top" width="6%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="16%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="3%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="9%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="3%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="17%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="3%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="14%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="3%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="15%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="2%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="9%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:14.25pt;"> <td nowrap="nowrap" valign="top" width="6%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="16%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="9%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="17%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" 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:Arial,sans-serif;font-size:12.0pt;">Asset Derivatives at</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" 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;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Liability Derivatives at</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="9%" style="height:14.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:.25in;"> <td nowrap="nowrap" valign="top" width="6%" style="height:.25in;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="16%" style="height:.25in;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:.25in;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="9%" style="height:.25in;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:.25in;padding:0in 5.4pt 0in 5.4pt;"></td> <td rowspan="2" valign="bottom" width="17%" style="border-bottom:solid black 1.0pt;height:.25in;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Statement of Assets and Liabilities Location</font></p> </td> <td valign="bottom" width="3%" style="height:.25in;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="14%" style="height:.25in;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">December, 31 2011</font></p> </td> <td valign="bottom" width="3%" style="height:.25in;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="15%" style="height:.25in;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">December, 31 2011</font></p> </td> <td valign="bottom" width="2%" style="height:.25in;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="9%" style="height:.25in;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="top" width="6%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <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="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="9%" 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 valign="bottom" width="3%" 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 style="font-family:Arial,sans-serif;font-size:12.0pt;">Fair Value</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="top" width="15%" 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:Arial,sans-serif;font-size:12.0pt;">Fair Value</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="9%" 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:Arial,sans-serif;font-size:12.0pt;">Net</font></p> </td> </tr> <tr style="height:60.0pt;"> <td nowrap="nowrap" valign="top" width="6%" style="height:60.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="16%" style="height:60.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Derivatives not designated as hedge instruments under ASC 815</font></p> </td> <td valign="top" width="3%" style="height:60.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="9%" style="height:60.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Futures contracts</font></p> </td> <td valign="top" width="3%" style="height:60.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="17%" style="height:60.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Net unrealized (loss) on open futures contracts</font></p> </td> <td valign="top" width="3%" style="height:60.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="14%" style="height:60.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#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; - </font></p> </td> <td nowrap="nowrap" valign="top" width="3%" style="height:60.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="15%" style="height:60.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (7,430)</font></p> </td> <td nowrap="nowrap" valign="top" width="2%" style="height:60.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="9%" style="height:60.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160; (7,430)</font></p> </td> </tr><tr style="height:10.5pt;"> <td nowrap="nowrap" valign="top" width="6%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="16%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="3%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="9%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="3%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="17%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="3%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="14%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="3%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="15%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="2%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="9%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:10.5pt;"> <td nowrap="nowrap" valign="top" width="6%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="16%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="3%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="9%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="3%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="17%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="3%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="14%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="3%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="15%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="2%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="9%" style="height:10.5pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="6%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="11" valign="bottom" width="94%" 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:Arial,sans-serif;font-size:12.0pt;">Derivative Instruments&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></b></p> </td> </tr> <tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="6%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="11" valign="bottom" width="94%" 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:Arial,sans-serif;font-size:12.0pt;">Statement of Operations</font></b></p> </td> </tr> <tr style="height:9.0pt;"> <td nowrap="nowrap" valign="bottom" width="6%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="16%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="3%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="9%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="3%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="17%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="3%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="14%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="3%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="15%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="2%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="9%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="top" width="6%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="16%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="17%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="14%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">For The Year Ended</font></p> </td> <td valign="top" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="2%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="top" width="6%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <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="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="9%" 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 rowspan="2" valign="bottom" width="17%" 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:Arial,sans-serif;font-size:12.0pt;">Line Item in the Statement of Operations</font></p> </td> <td valign="bottom" width="3%" 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:Arial,sans-serif;font-size:12.0pt;">December 31,</font></p> </td> <td valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="2%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="top" width="6%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <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="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="9%" 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 valign="bottom" width="3%" 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 style="font-family:Arial,sans-serif;font-size:12.0pt;">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="15%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="2%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:45.0pt;"> <td nowrap="nowrap" valign="top" width="6%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="16%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Derivatives not designated as hedge instruments under ASC 815</font></p> </td> <td valign="top" width="3%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="9%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Futures contracts</font></p> </td> <td valign="top" width="3%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="17%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Net realized gain from investments and foreign currency transactions</font></p> </td> <td valign="top" width="3%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="14%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 32,557 </font></p> </td> <td nowrap="nowrap" valign="top" width="3%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="2%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="9%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:9.75pt;"> <td nowrap="nowrap" valign="top" width="6%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="16%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="3%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="9%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="3%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="17%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="3%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="14%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="3%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="2%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="9%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:45.0pt;"> <td nowrap="nowrap" valign="top" width="6%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="16%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Derivatives not designated as hedge instruments under ASC 815</font></p> </td> <td valign="top" width="3%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="9%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p 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valign="top" width="3%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="14%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="3%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="2%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="9%" style="height:9.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:45.0pt;"> <td nowrap="nowrap" valign="top" width="6%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="16%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Derivatives not designated as hedge instruments under ASC 815</font></p> </td> <td valign="top" width="3%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="9%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Futures contracts</font></p> </td> <td valign="top" width="3%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="top" width="17%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Net unrealized (depreciation) on investments</font></p> </td> <td valign="top" width="3%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="top" width="14%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (7,430)</font></p> </td> <td nowrap="nowrap" valign="top" width="3%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="15%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="2%" style="height:45.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="9%" style="height:45.0pt;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:11.0pt;">&#160;</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">Credit risk is the possibility that a loss may occur due to the failure of a counter party to perform 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style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#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:11.0pt;">The Fund has a substantial portion of its assets on deposit with financial institutions. 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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. 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.&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#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:11.0pt;">&#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:11.0pt;">Note 8.&#160; Condensed Schedule of Investments</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:4.65pt;width:0px;"> <tr style="height:15.75pt;"> <td colspan="7" nowrap="nowrap" valign="bottom" width="100%" 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:Arial,sans-serif;font-size:12.0pt;">TriView Global Fund, LLC</font></b></p> </td> </tr> <tr style="height:15.0pt;"> <td colspan="7" nowrap="nowrap" valign="bottom" width="100%" 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:Arial,sans-serif;font-size:12.0pt;">(A Delaware Limited Liability Company)</font></p> </td> </tr><tr style="height:15.0pt;"> <td colspan="7" nowrap="nowrap" valign="bottom" width="100%" 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:Arial,sans-serif;font-size:12.0pt;">Condensed Schedule of Investments</font></p> </td> </tr><tr style="height:15.0pt;"> <td colspan="7" nowrap="nowrap" valign="bottom" width="100%" 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:Arial,sans-serif;font-size:12.0pt;">December 31, 2011</font></p> </td> </tr> <tr style="height:15.0pt;"> <td colspan="7" nowrap="nowrap" valign="bottom" width="100%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="7" nowrap="nowrap" valign="bottom" width="100%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;</font></p> </td> </tr> <tr style="height:15.0pt;"> <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="48%" 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="22%" 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="18%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <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="48%" 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="22%" 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="18%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:30.0pt;"> <td nowrap="nowrap" valign="bottom" width="3%" style="height:30.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:30.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="48%" style="height:30.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:30.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="22%" style="border-bottom:solid windowtext 1.0pt;height:30.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Fair Value</font></p> </td> <td nowrap="nowrap" valign="bottom" width="3%" style="height:30.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td valign="bottom" width="18%" style="border-bottom:solid windowtext 1.0pt;height:30.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Percent of Net Assets</font></p> </td> </tr><tr style="height:15.0pt;"> <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="48%" 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="22%" 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="18%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.75pt;"> <td colspan="3" nowrap="nowrap" valign="bottom" width="54%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><b><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Futures contracts</font></b></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="22%" 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="18%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.75pt;"> <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="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="48%" 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="22%" 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="18%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="2" nowrap="nowrap" valign="bottom" width="51%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Futures contracts held long</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="22%" 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="18%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <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="48%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Energy</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="22%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (6,150)</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="18%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; (0.40%)</font></p> </td> </tr><tr style="height:15.0pt;"> <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="48%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Currency</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="22%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (1,280)</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="18%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; (0.08%)</font></p> </td> </tr><tr style="height:15.0pt;"> <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="48%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:24.0pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Total futures contracts held long</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="22%" style="border-bottom:solid windowtext 1.0pt;border-top: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:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (7,430)</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="18%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; (0.48%)</font></p> </td> </tr><tr style="height:15.0pt;"> <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="48%" 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="22%" 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="18%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.75pt;"> <td nowrap="nowrap" valign="bottom" width="3%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="3" nowrap="nowrap" valign="bottom" width="54%" style="height:15.75pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:60.0pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Net unrealized (loss) on open futures contracts</font></p> </td> <td nowrap="nowrap" valign="bottom" width="22%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (7,430)</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="18%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; (0.48%)</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:11.0pt;">&#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:11.0pt;">Note 9.&#160; Statement of Changes in Net Assets</font></p> <p style="margin:0in;margin-bottom:.0001pt;"><font lang="EN-US" style="font-family:Calibri,sans-serif;font-size:11.0pt;">&#160;</font></p> <div align="left"><table border="0" cellpadding="0" cellspacing="0" style="border-collapse:collapse;margin-left:4.65pt;width:0px;"> <tr style="height:15.75pt;"> <td colspan="14" nowrap="nowrap" valign="bottom" width="100%" 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:Arial,sans-serif;font-size:12.0pt;">TriView Global Fund, LLC</font></b></p> </td> </tr> <tr style="height:15.0pt;"> <td colspan="14" nowrap="nowrap" valign="bottom" width="100%" 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:Arial,sans-serif;font-size:12.0pt;">(A Delaware Limited Liability Company)</font></p> </td> </tr><tr style="height:15.0pt;"> <td colspan="14" nowrap="nowrap" valign="bottom" width="100%" 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:Arial,sans-serif;font-size:12.0pt;">Statements of Changes in Net Assets</font></p> </td> </tr> <tr style="height:15.0pt;"> <td colspan="14" nowrap="nowrap" valign="bottom" width="100%" 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:Arial,sans-serif;font-size:12.0pt;">For the Years Ended December 31, 2011, 2010 and 2009</font></p> </td> </tr> <tr style="height:15.0pt;"> <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="2%" 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="7%" 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="9%" 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="8%" 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="9%" 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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <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="2%" 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="7%" 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="9%" 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="8%" 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="9%" 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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <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="2%" 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 colspan="11" nowrap="nowrap" valign="bottom" width="70%" 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:Arial,sans-serif;font-size:12.0pt;">Member&#8217;s Equity</font></p> </td> </tr> <tr style="height:15.0pt;"> <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="2%" 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 colspan="3" 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:Arial,sans-serif;font-size:12.0pt;">Managing</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="3" nowrap="nowrap" valign="bottom" width="21%" 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:Arial,sans-serif;font-size:12.0pt;">Non-Managing</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td colspan="3" nowrap="nowrap" valign="bottom" width="21%" 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:Arial,sans-serif;font-size:12.0pt;">Total</font></p> </td> </tr> <tr style="height:15.0pt;"> <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="2%" 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="7%" 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="9%" 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="8%" 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="9%" 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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <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="2%" 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="7%" 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:Arial,sans-serif;font-size:12.0pt;">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="9%" 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:Arial,sans-serif;font-size:12.0pt;">Net Assets</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="8%" 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:Arial,sans-serif;font-size:12.0pt;">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="9%" 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:Arial,sans-serif;font-size:12.0pt;">Net Assets</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="8%" 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:Arial,sans-serif;font-size:12.0pt;">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="9%" 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:Arial,sans-serif;font-size:12.0pt;">Net Assets</font></p> </td> </tr> <tr style="height:9.0pt;"> <td nowrap="nowrap" valign="bottom" width="24%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="2%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="7%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="9%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="8%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="9%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="8%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="9%" style="height:9.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="26%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Net assets at December 31, 2008</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="7%" 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:Arial,sans-serif;font-size:12.0pt;">1.000 </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="9%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160; (79,916)</font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="8%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">1.0000 </font></p> </td> <td nowrap="nowrap" valign="bottom" width="4%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="9%" style="border-bottom:solid windowtext 1.0pt;height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="center" style="margin:0in;margin-bottom:.0001pt;text-align:center;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160;&#160;&#160; (79,916)</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="8%" 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:Arial,sans-serif;font-size:12.0pt;">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="9%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160;&#160;&#160; (159,832)</font></p> </td> </tr> <tr style="height:15.0pt;"> <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="2%" 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="7%" 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="9%" 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="8%" 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="9%" 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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="26%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:12.0pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">(Decrease) in net assets from operations:</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="7%" 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="9%" 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="8%" 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="9%" 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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:17.25pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="26%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:.5in;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Net investment (loss)</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="7%" 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="9%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (18,302)</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="8%" 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="9%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (18,302)</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="8%" 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="9%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (36,604)</font></p> </td> </tr><tr style="height:17.25pt;"> <td nowrap="nowrap" valign="bottom" width="24%" style="height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="2%" 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="7%" 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="9%" style="border-bottom:solid windowtext 1.0pt;height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;</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="8%" 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="9%" style="border-bottom:solid windowtext 1.0pt;height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;</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="8%" 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="9%" style="border-bottom:solid windowtext 1.0pt;height:17.25pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;</font></p> </td> </tr> <tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="26%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:12.0pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Net (decrease) in net assets resulting from operations</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="7%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (18,302)</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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (18,302)</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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (36,604)</font></p> </td> </tr><tr style="height:15.0pt;"> <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="2%" 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="7%" 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="9%" 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="8%" 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="9%" 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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="26%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Net assets at December 31, 2009</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="7%" 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:Arial,sans-serif;font-size:12.0pt;">1.000 </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="9%" style="border-bottom:solid windowtext 1.0pt;border-top: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:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (98,218)</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="8%" 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:Arial,sans-serif;font-size:12.0pt;">1.000 </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="9%" style="border-bottom:solid windowtext 1.0pt;border-top: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:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (98,218)</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="8%" 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:Arial,sans-serif;font-size:12.0pt;">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="9%" style="border-bottom:solid windowtext 1.0pt;border-top: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:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; (196,436)</font></p> </td> </tr><tr style="height:15.0pt;"> <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="2%" 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="7%" 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="9%" 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="8%" 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="9%" 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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="26%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:12.0pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">(Decrease) in net assets from operations:</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="7%" 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="9%" 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="8%" 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="9%" 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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="26%" 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:Arial,sans-serif;font-size:12.0pt;">Net investment (loss)</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="7%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (30,935)</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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (30,935)</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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (61,870)</font></p> </td> </tr><tr style="height:15.0pt;"> <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="2%" 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="7%" 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="9%" 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:Arial,sans-serif;font-size:12.0pt;">&#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="8%" 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="9%" 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:Arial,sans-serif;font-size:12.0pt;">&#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="8%" 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="9%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;</font></p> </td> </tr> <tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="26%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:12.0pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Net (decrease) in net assets resulting from operations</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="7%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (30,935)</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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (30,935)</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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (61,870)</font></p> </td> </tr><tr style="height:15.0pt;"> <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="2%" 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="7%" 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="9%" 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="8%" 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="9%" 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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="26%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Net assets at December 31, 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="7%" 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:Arial,sans-serif;font-size:12.0pt;">1.000 </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="9%" style="border-bottom:solid windowtext 1.0pt;border-top: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:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; (129,153)</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="8%" 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:Arial,sans-serif;font-size:12.0pt;">1.000 </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="9%" style="border-bottom:solid windowtext 1.0pt;border-top: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:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; (129,153)</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="8%" 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:Arial,sans-serif;font-size:12.0pt;">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="9%" style="border-bottom:solid windowtext 1.0pt;border-top: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:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; (258,306)</font></p> </td> </tr><tr style="height:15.0pt;"> <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="2%" 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="7%" 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="9%" 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="8%" 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="9%" 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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="26%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:12.0pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">(Decrease) in net assets from operations:</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="7%" 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="9%" 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="8%" 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="9%" 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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="26%" 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:Arial,sans-serif;font-size:12.0pt;">Net investment (loss)</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="7%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (15,430)</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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; (137,382)</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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; (152,812)</font></p> </td> </tr><tr style="height:15.0pt;"> <td colspan="4" nowrap="nowrap" valign="bottom" width="37%" 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:Arial,sans-serif;font-size:12.0pt;">Net realized gain (loss) from investments and foreign currency transactions</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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 42,730 </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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 42,730 </font></p> </td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="26%" 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:Arial,sans-serif;font-size:12.0pt;">Net unrealized (depreciation) on investments</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="7%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (7,430)</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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (7,430)</font></p> </td> </tr><tr style="height:15.0pt;"> <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="2%" 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="7%" 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="9%" 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:Arial,sans-serif;font-size:12.0pt;">&#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="8%" 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="9%" 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:Arial,sans-serif;font-size:12.0pt;">&#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="8%" 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="9%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;</font></p> </td> </tr> <tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="26%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:12.0pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Net (decrease) in net assets resulting from operations</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="7%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (15,430)</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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; (102,082)</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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160; (117,512)</font></p> </td> </tr><tr style="height:15.0pt;"> <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="2%" 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="7%" 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="9%" 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="8%" 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="9%" 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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="26%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;text-indent:12.0pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Capital contributions </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="7%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#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="8%" 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:Arial,sans-serif;font-size:12.0pt;">2,203.674 </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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160; 2,155,371 </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="8%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" 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5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="7%" 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:Arial,sans-serif;font-size:12.0pt;">(1.000)</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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (993)</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="8%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p align="right" style="margin:0in;margin-bottom:.0001pt;text-align:right;"><font 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style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> <td nowrap="nowrap" valign="bottom" width="8%" 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:Arial,sans-serif;font-size:12.0pt;">&#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="9%" 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:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; - </font></p> </td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="26%" 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:Arial,sans-serif;font-size:12.0pt;">Total increase in net assets</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="7%" style="border-top:solid windowtext 1.0pt;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:Arial,sans-serif;font-size:12.0pt;">(1.000)</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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160; 144,583 </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="8%" 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:Arial,sans-serif;font-size:12.0pt;">1,947.597 </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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160;&#160;&#160; 1,771,177 </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="8%" 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:Arial,sans-serif;font-size:12.0pt;">1,946.597 </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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">&#160;&#160; &#160;&#160;1,915,760 </font></p> </td> </tr> <tr style="height:15.0pt;"> <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="2%" 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="7%" 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="9%" 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="8%" 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="9%" 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="8%" 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="9%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"></td> </tr><tr style="height:15.0pt;"> <td colspan="2" nowrap="nowrap" valign="bottom" width="26%" style="height:15.0pt;padding:0in 5.4pt 0in 5.4pt;"> <p style="margin:0in;margin-bottom:.0001pt;"><font style="font-family:Arial,sans-serif;font-size:12.0pt;">Net assets at December 31, 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="7%" style="border-bottom:double windowtext 2.25pt;border-top: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:Arial,sans-serif;font-size:12.0pt;">&#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="9%" style="border-bottom:double windowtext 2.25pt;border-top: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:Arial,sans-serif;font-size:12.0pt;">&#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="8%" style="border-bottom:double windowtext 2.25pt;border-top: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:Arial,sans-serif;font-size:12.0pt;">1,948.597 </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="9%" style="border-bottom:double windowtext 2.25pt;border-top: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:Arial,sans-serif;font-size:12.0pt;">&#160;$&#160; 1,539,942 </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="8%" style="border-bottom:double windowtext 2.25pt;border-top: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:Arial,sans-serif;font-size:12.0pt;">1,948.597 </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="9%" style="border-bottom:double windowtext 2.25pt;border-top: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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Other Related Parties Increase (decrease) in due to related parties Increase (Decrease) in Accounts Payable Increase (decrease) in accounts payable and accrued liabilities Increase (Decrease) in Operating Assets [Abstract] Changes in operating assets and liabilities: Increase (Decrease) in Prepaid Expense (Increase) decrease in prepaid expenses Interest Income, Operating Interest income Investment Income, Net Total investment income Liabilities Total liabilities Liabilities, Noncurrent [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 Net Income (Loss) Attributable to Parent Net investment (loss) Nonoperating Income (Expense) [Abstract] Investment income Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax Foreign currency translation Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax Net unrealized (depreciation) on investments Other Cost and Expense, Operating Other operating expenses Other Nonoperating Income Other income Prepaid Expense, Current Prepaid expenses Professional Fees Professional fees Provision for Loss on Contracts Net unrealized (loss) on open futures contracts Realized Investment Gains (Losses) Net realized and unrealized gain from investments and foreign currency Realized Investment Gains (Losses) [Abstract] Realized and unrealized gain (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 [Table] EX-101.PRE 6 tgf-20111231_pre.xml EX-31 7 triview10ka2011ex31.txt Exhibit 31.01 CERTIFICATION I, Michael Pacult, do hereby certify that: 1. I have reviewed this annual report on Form 10-K 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. General Partner of the Registrant Date: June 14, 2012 EX-32 8 triview10ka2011ex32.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-K for the year ended December 31, 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-K for the year ended December 31, 2011 fairly presents, in all material respects, the financial condition and results of operations of TriView Global Fund, LLC. TRIVIEW GLOBAL FUND, LLC By: TriView Capital Management, Inc., Managing Member By: /s/ Michael Pacult Michael Pacult Chief Executive Officer & Chief Financial Officer Date: June 14, 2012 XML 9 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; word-wrap: break-word; } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 10 R9.htm IDEA: XBRL DOCUMENT v2.4.0.6
Fees
12 Months Ended
Dec. 31, 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 incentive fee for the year ended December 31, 2011 was $2,438.  There were no incentive fees for the years ended December 31, 2010 and 2009.                                                                                                                                                           

                                                                                                                                                                               

                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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M7V$Y-S=?,#!F,C!D.3&UL#0I# M;VYT96YT+51R86YS9F5R+45N8V]D:6YG.B!Q=6]T960M<')I;G1A8FQE#0I# M;VYT96YT+51Y<&4Z('1E>'0O:'1M;#L@8VAA&UL;G,Z;STS1")U&UL/@T*+2TM+2TM/5].97AT4&%R=%\W8SDY,SDV,5]E938U7S0Y 8,#!?83DW-U\P,&8R,&0Y-S-F9C8M+0T* ` end XML 12 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
The Limited Liability Company ("LLC") Agreement
12 Months Ended
Dec. 31, 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 13 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Balance Sheet (USD $)
Dec. 31, 2011
Dec. 31, 2010
Equity in broker trading accounts    
Cash at broker $ 1,255,856 $ 0
Net unrealized (loss) on open futures contracts (7,430) 0
Total equity in broker trading accounts 1,248,426 0
Cash and cash equivalents 296,104 405
Prepaid expenses 12,314 4,481
Total assets 1,556,844 4,886
Liabilities    
Accounts payable and accrued liabilities 16,902 920
Due to related parties 0 262,272
Total liabilities 16,902 263,192
Net assets 1,539,942 (258,306)
Analysis of net assets    
Non-managing members 1,539,942 (129,153)
Managing members 0 (129,153)
Net assets (equivalent to $790.28 and $(129,153.02) per unit) 1,539,942 (258,306)
Membership units outstanding    
Non-managing member units outstanding 1,948.597 1.000
Managing members units outstanding 0 1.000
Total membership units outstanding $ 1,948.597 $ 2.000
XML 14 R6.htm IDEA: XBRL DOCUMENT v2.4.0.6
Significant Accounting Policies
12 Months Ended
Dec. 31, 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 December 31, 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

December 31,

December 31,

December 31,

 

December 31,

2011

2010

2011

2010

Net Asset Value for financial reporting purposes

 $     1,539,942

 $      (258,306)

 $          790.28

 $  (129,153.02)

Adjustment for initial offering costs

             43,468

             43,468

                22.31

         21,734.00

Adjustment for other offering, organizational and operating expenses

           213,465

           216,838

             109.55

       108,419.02

Net Asset Value for all other purposes

 $     1,796,875

 $            2,000

 $          922.14

 $        1,000.00

Number of Units

        1,948.597

                 2.000

                                                                                                                                               

                                                                                                                                               

                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.                                                                                                                               

                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 year ended December 31, 2011 and 2010, the Fund did not have any Level 3 assets or liabilities.                                                                                                                                       

                                                                                                                                                               

                The following table sets forth by level within the fair value hierarchy the Fund’s investments accounted for at fair value on a recurring basis as of December 31, 2011.  There were no investments as of December 31, 2010.                                                                                                                                          

                                                                                                                                                               

Fair Value at December 31, 2011

Description

Level 1

 

Level 2

 

Level 3

Total

Exchange Traded - Futures Contracts

 $   (7,430)

 $                -

 $                 -

 $       (7,430)

Total 

 $   (7,430)

 $                -

 $                 -

 $       (7,430)

                                                                                                                                                               

                Income Taxes - The Fund prepares calendar year U.S. Federal and applicable state information tax returns and reports to the partners their allocable shares of the Fund’s income, expenses and trading gains or losses. No provision for income taxes has been made in the accompanying financial statements as each partner is individually responsible for reporting income or loss based on such partner’s respective share of the Fund’s income and expenses as reported for income tax purposes.                                                                                                                                   

                                                                                                                                                               

                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 2008 through 2011 tax years generally remain subject to examination for the U.S. federal and most state tax authorities.                                                                                                                                         

                                                                                                                                                               

                Statement of Cash Flows - For the purposes of the Statement of Cash Flows, the Fund considers all short-term investments with an original maturity of three months or less to be cash equivalents.  Net cash used in operating activities includes no cash payments for interest or income taxes for the years ended December 31, 2011, 2010 or 2009.                                                                                                                                  

                                                                                                                                                               

                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.                                                                                                                                   

                                                                                                                                                               

                Reclassifications - Prior year investment and other income ratios to average net assets were reclassified to investment income (loss) to average net assets to conform to current year presentation.                            

 

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    Managing Member Duties
    12 Months Ended
    Dec. 31, 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 $)
    12 Months Ended
    Dec. 31, 2011
    Dec. 31, 2010
    Dec. 31, 2009
    Investment income      
    Interest income $ 6 $ 0 $ 0
    Other income 0 20,000 0
    Total investment income 6 20,000 0
    Expenses      
    Commission expense 60,295 0 0
    Management fees 12,103 0 0
    Incentive fees 2,438 0 0
    Professional fees 64,855 45,006 29,866
    Other operating expenses 13,127 36,864 6,738
    Total expenses 152,818 81,870 36,604
    Net investment (loss) (152,812) (61,870) (36,604)
    Net realized gain (loss) from:      
    Investments 46,297 0 0
    Foreign currency translation (3,567) 0 0
    Net realized gain from investments and foreign currency transactions 42,730 0 0
    Net unrealized (depreciation) on investments (7,430) 0 0
    Net realized and unrealized gain from investments and foreign currency 35,300 0 0
    Net (decrease) in net assets resulting from operations (117,512) (61,870) (36,604)
    Net increase (decrease) per unit      
    Managing and non-managing member unit $ 1.82 $ (30,935.02) $ (18,302.00)
    XML 19 R1.htm IDEA: XBRL DOCUMENT v2.4.0.6
    Document and Entity Information (USD $)
    12 Months Ended
    Dec. 31, 2011
    Document and Entity Information [Abstract]  
    Document Type 10-K
    Amendment Flag false
    Document Period End Date Dec. 31, 2011
    Document Fiscal Year Focus 2011
    Document Fiscal Period Focus FY
    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 20 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
    Statements of Cash Flows (USD $)
    12 Months Ended
    Dec. 31, 2011
    Dec. 31, 2010
    Dec. 31, 2009
    Cash Flows from Operating Activities      
    Net (decrease) in net assets resulting from operations $ (117,512) $ (61,870) $ (36,604)
    Changes in operating assets and liabilities:      
    (Increase) decrease in prepaid expenses (7,833) 2,309 (6,790)
    Unrealized depreciation on investments 7,430 0 0
    Increase (decrease) in accounts payable and accrued liabilities 15,982 (2,897) 3,573
    Net cash (used in) operating activities (101,933) (62,458) (39,821)
    Cash Flows from Financing Activities      
    Increase (decrease) in due to related parties (262,272) 62,500 39,750
    Proceeds from sale of units 2,155,371 0 0
    Redemptions paid (239,611) 0 0
    Net cash provided by financing activities 1,653,488 62,500 39,750
    Net increase (decrease) in cash and cash equivalents 1,551,555 42 (71)
    Cash and cash equivalents, beginning of year 405 363 434
    Cash and cash equivalents, end of year 1,551,960 405 363
    End of year cash and cash equivalents consists of:      
    Cash at broker 1,255,856 0 0
    Cash and cash equivalents 296,104 405 363
    Total cash and cash equivalents $ 1,551,960 $ 405 $ 363
    XML 21 R12.htm IDEA: XBRL DOCUMENT v2.4.0.6
    Condensed Schedule of Investments
    12 Months Ended
    Dec. 31, 2011
    Condensed Schedule of Investments

    Note 8.  Condensed Schedule of Investments

     

    TriView Global Fund, LLC

    (A Delaware Limited Liability Company)

    Condensed Schedule of Investments

    December 31, 2011

     

    Fair Value

    Percent of Net Assets

    Futures contracts

    Futures contracts held long

    Energy

     $           (6,150)

           (0.40%)

    Currency

                  (1,280)

           (0.08%)

    Total futures contracts held long

                  (7,430)

           (0.48%)

    Net unrealized (loss) on open futures contracts

     $           (7,430)

           (0.48%)

     

    XML 22 R11.htm IDEA: XBRL DOCUMENT v2.4.0.6
    Trading Activities and Related Risks
    12 Months Ended
    Dec. 31, 2011
    Trading Activities and Related Risks

    Note 7. 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 and cash equivalents to satisfy these margin requirements. Cash and cash equivalents at December 31, 2011 was $1,551,960. 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 is limited to the gross or face amount of the contracts held on long positions, of which there were approximately $26,901 at December 31, 2011 and none at 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.                                                                                                                                 

                                                                                                                                                                   

                    The net unrealized loss on open futures contracts at December 31, 2011 was $7,430.                                                                                                                                      

                                                                                                                                                                   

                    Open contracts generally mature within three months of December 31, 2011.  The latest maturity for open futures contracts is February 2012.  However, the Fund intends to close all contracts prior to maturity.                                                                                                                                  

                                                                                                                                                                   

                    There we no open futures contracts at December 31, 2010.        

     

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

    Derivative Instruments       

    Statement of Assets and Liabilities

    Asset Derivatives at

    Liability Derivatives at

    Statement of Assets and Liabilities Location

    December, 31 2011

    December, 31 2011

    Fair Value

    Fair Value

    Net

    Derivatives not designated as hedge instruments under ASC 815

    Futures contracts

    Net unrealized (loss) on open futures contracts

     $                              -

     $                     (7,430)

     $     (7,430)

    Derivative Instruments       

    Statement of Operations

    For The Year Ended

    Line Item in the Statement of Operations

    December 31,

    2011

    Derivatives not designated as hedge instruments under ASC 815

    Futures contracts

    Net realized gain from investments and foreign currency transactions

     $                   32,557

    Derivatives not designated as hedge instruments under ASC 815

    Options on Futures

    Net realized gain from investments and foreign currency transactions

     $                   10,173

    Derivatives not designated as hedge instruments under ASC 815

    Futures contracts

    Net unrealized (depreciation) on investments

     $                    (7,430)

     

    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 R13.htm IDEA: XBRL DOCUMENT v2.4.0.6
    Statement of Changes in Net Assets
    12 Months Ended
    Dec. 31, 2011
    Statement of Changes in Net Assets

    Note 9.  Statement of Changes in Net Assets

     

    TriView Global Fund, LLC

    (A Delaware Limited Liability Company)

    Statements of Changes in Net Assets

    For the Years Ended December 31, 2011, 2010 and 2009

    Member’s Equity

    Managing

    Non-Managing

    Total

    Units

    Net Assets

    Units

    Net Assets

    Units

    Net Assets

    Net assets at December 31, 2008

    1.000

     $      (79,916)

    1.0000

     $      (79,916)

    2.000

     $    (159,832)

    (Decrease) in net assets from operations:

    Net investment (loss)

             (18,302)

             (18,302)

             (36,604)

     

     

     

    Net (decrease) in net assets resulting from operations

             (18,302)

             (18,302)

             (36,604)

    Net assets at December 31, 2009

    1.000

             (98,218)

    1.000

             (98,218)

    2.000

           (196,436)

    (Decrease) in net assets from operations:

    Net investment (loss)

             (30,935)

             (30,935)

             (61,870)

     

     

     

    Net (decrease) in net assets resulting from operations

             (30,935)

             (30,935)

             (61,870)

    Net assets at December 31, 2010

    1.000

           (129,153)

    1.000

           (129,153)

    2.000

           (258,306)

    (Decrease) in net assets from operations:

    Net investment (loss)

             (15,430)

           (137,382)

           (152,812)

    Net realized gain (loss) from investments and foreign currency transactions

                          -

               42,730

               42,730

    Net unrealized (depreciation) on investments

                          -

                (7,430)

                (7,430)

     

     

     

    Net (decrease) in net assets resulting from operations

             (15,430)

           (102,082)

           (117,512)

    Capital contributions

                      -

                          -

    2,203.674

         2,155,371

    2,203.674

         2,155,371

    Redemptions

    (1.000)

                   (993)

    (256.077)

           (238,618)

    (257.077)

           (239,611)

    Reallocation of initial offering costs

            145,576

     

           (145,576)

     

                          -

    Total increase in net assets

    (1.000)

            144,583

    1,947.597

         1,771,177

    1,946.597

         1,915,760

    Net assets at December 31, 2011

                      -

     $                -  

    1,948.597

     $  1,539,942

    1,948.597

     $  1,539,942

     

    XML 24 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
    Nature of the Business
    12 Months Ended
    Dec. 31, 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 December 31, 2011 additional capital contributions from members of $781,038 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 and regulated by commodity exchanges and by exchange markets that may be traded by the advisor.                                                                                                                               

                                                                                                                                                   

    XML 25 R10.htm IDEA: XBRL DOCUMENT v2.4.0.6
    Related Party Transactions
    12 Months Ended
    Dec. 31, 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 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 cash advances were all repaid in 2011. The following balances were outstanding as of December 31, 2010.                                                                                                                     

                                                                                                                                                   

    December 31,

    2010

    Futures Investment Company

     $             194,108

    Ashley Capital Management, Inc.

                      26,475

    Corporate Managing Member

                        1,958

    Michael Pacult

                      39,731

    Balance due to related parties

     $             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 Year Ended

    December 31,

    2011

    Corporate Managing Member

     $               12,474

    Futures Investment Company

                      40,958

    Total related party expenses

     $               53,432

    Management fees included in expenses:

     For The Year Ended

    December 31,

    2011

    Corporate Managing Member

     $                 5,706

    Total related party expenses

     $                 5,706

    Commissions included in accrued expenses:

    December 31,

    2011

    Corporate Managing Member

     $                 3,270

    Futures Investment Company

                        3,347

    Total accrued commissions payable to related parties

     $                 6,617

                                                                                                                                                   

                    Other operating expense includes $3,721 paid to Futures Investment Corporation for postage and office supplies.                                                                                                                               

                                                                                                                                                   

                    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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