X0202 5 2006-03-31 0 1 1 0001198144 MERCANTILE ALTERNATIVE STRATEGIES FUND LLC N/A 0000064908 MERCANTILE BANKSHARES CORP 2 HOPKINS PLAZA BALTIMORE MD 21201 0 0 1 0 Limited Liability Company Interest 3 1 D Limited Liability Company Interest 2004-03-31 4 S 0 L 1250000 1250000 D 1 D Limited Liability Company Interest 2004-12-31 4 S 0 L 1300000 1300000 D 1 D Limited Liability Company Interest 2005-06-30 4 S 0 L 4400000 4400000 D 1 D Limited Liability Company Interest 2005-12-31 4 S 0 L 1250000 1250000 D 1 D Mercantile Alternative Strategies Fund LLC (the ?Company?) is a limited liability company organized under the laws of the State of Delaware and registered under the Investment Company Act of 1940, as amended, as a closed-end, non-diversified management investment company. Each Interest is a percentage of ownership interest in the Company. The value of each Interest is the corresponding percentage of the net asset value of the Company (as more fully set forth in the Company documents available with the Securities and Exchange Commission (?SEC?)). The percentage interest in the Company held by Mercantile Bankshares Corporation (?MBC?) at a given time is related to the investments made by other investors have placed into the Company and is subject to change when they buy or sell Interest. Filer?s Interest has been held directly by MBC since December 30, 2002, which was the effective date of the registration statement filed by the Company with the SEC on December 30, 2002. Filer?s Interest was in exchange for the seed capital that MBC placed into the Company The Interest held by MBC represented 100% of the Interests outstanding at the conclusion of the transaction. This transaction is the last transaction for the fiscal year. The transaction was a tender offer. The Interest held by MBC represented 54% of the Interests outstanding at the conclusion of the transaction. This transaction is the last transaction for the fiscal year. The Interest held by MBC represented 53% of the Interests outstanding at the conclusion of the transaction. This transaction is the last transaction for the fiscal year. The Interest held by MBC represented 46% of the Interests outstanding at the conclusion of the transaction. The percentage interest for the fiscal year in which this transaction took place is listed by the last transaction that took place for the fiscal year. The Interest held by MBC represented 45% of the Interests outstanding at the conclusion of the transaction. This transaction is the last transaction for the fiscal year. Mercantile Bankshares Corporation By: /s/ John L. Unger, Secretary 2006-08-22