Altegris Clearing Solutions Clarke Capital Management, Inc. FXF-Plus Program
Monthly Performance (%)
Date Range: 04/04 - 11/17
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2017 -3.76 1.53 -4.57 0.75 3.40 3.18 5.50 -0.96 -4.34 10.73 -0.84 10.00
2016 4.57 15.59 -5.90 -0.32 -2.85 9.00 -0.25 -1.43 -3.21 -1.95 -6.06 0.88 6.17
2015 4.48 -0.81 1.85 5.08 -0.11 -2.68 -2.56 -3.52 3.42 -6.59 -0.83 -2.59 -5.41
2014 -8.80 1.40 -5.03 2.24 2.66 0.18 2.39 2.33 1.84 -4.35 7.65 1.11 2.59
2013 12.69 -2.25 4.87 -1.06 -5.13 -3.58 -5.08 -0.46 -0.60 3.02 2.51 1.05 4.78
2012 -1.40 3.63 -2.91 -3.42 12.50 -8.04 2.41 -4.17 -2.01 -0.41 1.14 8.32 4.00
2011 -1.95 1.52 -6.77 6.00 -2.12 -4.95 5.67 1.88 4.05 -7.82 0.00 0.39 -5.13
2010 -5.56 1.76 3.31 -0.33 4.37 12.15 1.64 14.73 -3.59 0.43 -7.61 4.23 25.94
2009 -8.03 6.50 -18.96 -8.77 14.46 -5.63 2.32 0.01 5.03 -3.93 7.27 -12.20 -23.93
2008 12.65 2.00 13.38 -19.15 -4.46 3.72 -13.64 9.49 -0.02 26.30 13.24 13.34 59.95
2007 5.96 -7.00 -2.68 7.89 6.76 0.13 -9.69 -0.71 11.27 8.67 -5.33 -8.11 4.33
2006 -2.08 -2.13 3.78 6.72 -1.55 -6.47 -6.74 4.24 -0.62 3.64 5.71 -7.34 -4.15
2005 -12.35 2.57 -2.10 4.08 10.18 12.80 -1.60 -5.14 15.98 -8.76 7.40 6.23 28.30
2004 -10.32 -5.44 -15.98 3.91 -0.48 3.99 33.10 1.56 3.57
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

The FXF-plus program currently trades 27 domestic & international commodity interests, 13 of which are either long or short interest rate contracts reflecting interest rates in the US, EMU, the UK, Japan and Australia. Also followed are the major currency markets, and eight equity index markets from Europe & Asia. The program uses 23 models. CCM reserves the right to use these models in any of its programs or pools that it manages or will manage in the future. Ten of the models are intermediate time-frame focus with similar characteristics to those in the Global Basic and Global Magnum programs. Ten are long-term and 7 are ultralong term. It should be noted that the FXF-plus program is less diversified than most of CCM’s other programs as only Currency, Interest Rate and Equity Index products are followed. There will be times when there is significant correlation among these products possibly in an adverse direction to positions held in a client's account. Clients of the FXF-plus program should be aware that this factor alone, although there are others, will lead to periods of extreme volatility and possibly very large drawdowns in a client's equity.

Performance Statistics
Date Range: 04/04 - 11/17
  Program SP500 TR Altegris 40
Total Return 138.57% 212.43% 38.78%
Annualized Return 6.61% 8.69% 2.43%
Annualized Std. Deviation 25.27% 13.45% 9.07%
Correlation -0.16 0.61
Sharpe Ratio (rf=2.5%) 0.16 0.46 -0.01
Worst Month -19.15% -16.79% -6.22%
Date of Worst Month 04/2008 10/2008 04/2004
Worst Drawdown -30.81% -50.95% -15.74%
Date of Worst Drawdown 3/08 - 7/08 10/07 - 2/09 4/11 - 9/13
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 04/04 - 11/17
Year or YTD Program SP500 TR Altegris 40
2017 10.00 20.51 0.15
2016 6.17 11.98 -3.13
2015 -5.41 1.41 0.09
2014 2.59 13.69 15.75
2013 4.78 32.41 -2.45
2012 4.00 15.98 -4.75
2011 -5.13 2.12 -3.23
2010 25.94 15.06 11.33
2009 -23.93 26.45 -7.98
2008 59.95 -36.99 15.47
2007 4.33 5.50 7.18
2006 -4.15 15.79 6.70
2005 28.30 4.89 4.51
2004 3.57 10.76 3.57
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 04/04 - 11/17
Date: 11/30/2017
Perf: $1,479.88 Date: 10/31/2017
Perf: $1,477.96 Date: 9/30/2017
Perf: $1,418.53 Date: 8/31/2017
Perf: $1,449.10 Date: 7/31/2017
Perf: $1,425.44 Date: 6/30/2017
Perf: $1,419.90 Date: 5/31/2017
Perf: $1,462.61 Date: 4/30/2017
Perf: $1,459.84 Date: 3/31/2017
Perf: $1,468.65 Date: 2/28/2017
Perf: $1,490.41 Date: 1/31/2017
Perf: $1,458.61 Date: 12/31/2016
Perf: $1,477.67 Date: 11/30/2016
Perf: $1,466.53 Date: 10/31/2016
Perf: $1,482.84 Date: 9/30/2016
Perf: $1,522.11 Date: 8/31/2016
Perf: $1,542.00 Date: 7/31/2016
Perf: $1,584.63 Date: 6/30/2016
Perf: $1,568.63 Date: 5/31/2016
Perf: $1,504.68 Date: 4/30/2016
Perf: $1,531.48 Date: 3/31/2016
Perf: $1,570.91 Date: 2/29/2016
Perf: $1,617.33 Date: 1/31/2016
Perf: $1,578.50 Date: 12/31/2015
Perf: $1,525.41 Date: 11/30/2015
Perf: $1,561.32 Date: 10/31/2015
Perf: $1,509.84 Date: 9/30/2015
Perf: $1,536.57 Date: 8/31/2015
Perf: $1,503.94 Date: 7/31/2015
Perf: $1,530.41 Date: 6/30/2015
Perf: $1,472.83 Date: 5/31/2015
Perf: $1,553.61 Date: 4/30/2015
Perf: $1,564.88 Date: 3/31/2015
Perf: $1,627.71 Date: 2/28/2015
Perf: $1,592.52 Date: 1/31/2015
Perf: $1,595.07 Date: 12/31/2014
Perf: $1,524.05 Date: 11/30/2014
Perf: $1,497.69 Date: 10/31/2014
Perf: $1,413.58 Date: 9/30/2014
Perf: $1,393.10 Date: 8/31/2014
Perf: $1,372.65 Date: 7/31/2014
Perf: $1,316.94 Date: 6/30/2014
Perf: $1,327.56 Date: 5/31/2014
Perf: $1,316.24 Date: 4/30/2014
Perf: $1,283.39 Date: 3/31/2014
Perf: $1,273.71 Date: 2/28/2014
Perf: $1,292.84 Date: 1/31/2014
Perf: $1,282.33 Date: 12/31/2013
Perf: $1,316.69 Date: 11/30/2013
Perf: $1,318.54 Date: 10/31/2013
Perf: $1,295.10 Date: 9/30/2013
Perf: $1,266.10 Date: 8/31/2013
Perf: $1,273.75 Date: 7/31/2013
Perf: $1,298.68 Date: 6/30/2013
Perf: $1,310.08 Date: 5/31/2013
Perf: $1,361.69 Date: 4/30/2013
Perf: $1,422.87 Date: 3/31/2013
Perf: $1,387.08 Date: 2/28/2013
Perf: $1,367.39 Date: 1/31/2013
Perf: $1,375.37 Date: 12/31/2012
Perf: $1,349.72 Date: 11/30/2012
Perf: $1,343.14 Date: 10/31/2012
Perf: $1,339.39 Date: 9/30/2012
Perf: $1,389.70 Date: 8/31/2012
Perf: $1,413.02 Date: 7/31/2012
Perf: $1,432.50 Date: 6/30/2012
Perf: $1,376.21 Date: 5/31/2012
Perf: $1,429.98 Date: 4/30/2012
Perf: $1,403.31 Date: 3/31/2012
Perf: $1,394.94 Date: 2/29/2012
Perf: $1,427.35 Date: 1/31/2012
Perf: $1,421.52 Date: 12/31/2011
Perf: $1,416.98 Date: 11/30/2011
Perf: $1,403.51 Date: 10/31/2011
Perf: $1,399.31 Date: 9/30/2011
Perf: $1,457.01 Date: 8/31/2011
Perf: $1,457.88 Date: 7/31/2011
Perf: $1,460.81 Date: 6/30/2011
Perf: $1,410.18 Date: 5/31/2011
Perf: $1,447.82 Date: 4/30/2011
Perf: $1,502.67 Date: 3/31/2011
Perf: $1,446.27 Date: 2/28/2011
Perf: $1,468.74 Date: 1/31/2011
Perf: $1,444.19 Date: 12/31/2010
Perf: $1,464.25 Date: 11/30/2010
Perf: $1,404.01 Date: 10/31/2010
Perf: $1,455.54 Date: 9/30/2010
Perf: $1,401.18 Date: 8/31/2010
Perf: $1,376.13 Date: 7/31/2010
Perf: $1,321.42 Date: 6/30/2010
Perf: $1,338.69 Date: 5/31/2010
Perf: $1,333.62 Date: 4/30/2010
Perf: $1,366.70 Date: 3/31/2010
Perf: $1,345.97 Date: 2/28/2010
Perf: $1,294.58 Date: 1/31/2010
Perf: $1,282.52 Date: 12/31/2009
Perf: $1,315.27 Date: 11/30/2009
Perf: $1,370.07 Date: 10/31/2009
Perf: $1,317.00 Date: 9/30/2009
Perf: $1,351.60 Date: 8/31/2009
Perf: $1,320.18 Date: 7/31/2009
Perf: $1,315.84 Date: 6/30/2009
Perf: $1,317.29 Date: 5/31/2009
Perf: $1,353.28 Date: 4/30/2009
Perf: $1,334.86 Date: 3/31/2009
Perf: $1,379.99 Date: 2/28/2009
Perf: $1,419.30 Date: 1/31/2009
Perf: $1,420.01 Date: 12/31/2008
Perf: $1,429.30 Date: 11/30/2008
Perf: $1,393.49 Date: 10/31/2008
Perf: $1,344.16 Date: 9/30/2008
Perf: $1,278.33 Date: 8/31/2008
Perf: $1,275.65 Date: 7/31/2008
Perf: $1,310.64 Date: 6/30/2008
Perf: $1,373.69 Date: 5/31/2008
Perf: $1,337.97 Date: 4/30/2008
Perf: $1,310.96 Date: 3/31/2008
Perf: $1,326.21 Date: 2/29/2008
Perf: $1,332.08 Date: 1/31/2008
Perf: $1,260.36 Date: 12/31/2007
Perf: $1,237.83 Date: 11/30/2007
Perf: $1,240.69 Date: 10/31/2007
Perf: $1,248.80 Date: 9/30/2007
Perf: $1,197.20 Date: 8/31/2007
Perf: $1,143.79 Date: 7/31/2007
Perf: $1,188.11 Date: 6/30/2007
Perf: $1,225.99 Date: 5/31/2007
Perf: $1,191.55 Date: 4/30/2007
Perf: $1,150.48 Date: 3/31/2007
Perf: $1,104.11 Date: 2/28/2007
Perf: $1,130.56 Date: 1/31/2007
Perf: $1,174.61 Date: 12/31/2006
Perf: $1,154.86 Date: 11/30/2006
Perf: $1,117.10 Date: 10/31/2006
Perf: $1,090.39 Date: 9/30/2006
Perf: $1,078.53 Date: 8/31/2006
Perf: $1,090.08 Date: 7/31/2006
Perf: $1,078.01 Date: 6/30/2006
Perf: $1,094.20 Date: 5/31/2006
Perf: $1,109.40 Date: 4/30/2006
Perf: $1,139.60 Date: 3/31/2006
Perf: $1,112.46 Date: 2/28/2006
Perf: $1,083.42 Date: 1/31/2006
Perf: $1,103.05 Date: 12/31/2005
Perf: $1,082.38 Date: 11/30/2005
Perf: $1,102.33 Date: 10/31/2005
Perf: $1,056.99 Date: 9/30/2005
Perf: $1,055.30 Date: 8/31/2005
Perf: $1,039.30 Date: 7/31/2005
Perf: $1,033.71 Date: 6/30/2005
Perf: $1,033.09 Date: 5/31/2005
Perf: $999.03 Date: 4/30/2005
Perf: $969.08 Date: 3/31/2005
Perf: $993.42 Date: 2/28/2005
Perf: $999.02 Date: 1/31/2005
Perf: $992.17 Date: 12/31/2004
Perf: $1,035.67 Date: 11/30/2004
Perf: $1,032.26 Date: 10/31/2004
Perf: $979.28 Date: 9/30/2004
Perf: $946.90 Date: 8/31/2004
Perf: $934.28 Date: 7/31/2004
Perf: $940.78 Date: 6/30/2004
Perf: $951.62 Date: 5/31/2004
Perf: $984.10 Date: 4/30/2004
Perf: $1,000.00 Date: 11/30/2017
Perf: $3,174.14 Date: 10/31/2017
Perf: $3,079.60 Date: 9/30/2017
Perf: $3,009.48 Date: 8/31/2017
Perf: $2,948.73 Date: 7/31/2017
Perf: $2,939.62 Date: 6/30/2017
Perf: $2,880.29 Date: 5/31/2017
Perf: $2,862.54 Date: 4/30/2017
Perf: $2,822.74 Date: 3/31/2017
Perf: $2,793.96 Date: 2/28/2017
Perf: $2,790.61 Date: 1/31/2017
Perf: $2,684.06 Date: 12/31/2016
Perf: $2,634.01 Date: 11/30/2016
Perf: $2,582.87 Date: 10/31/2016
Perf: $2,490.71 Date: 9/30/2016
Perf: $2,536.88 Date: 8/31/2016
Perf: $2,536.38 Date: 7/31/2016
Perf: $2,532.83 Date: 6/30/2016
Perf: $2,442.69 Date: 5/31/2016
Perf: $2,436.36 Date: 4/30/2016
Perf: $2,393.28 Date: 3/31/2016
Perf: $2,383.98 Date: 2/29/2016
Perf: $2,232.61 Date: 1/31/2016
Perf: $2,235.52 Date: 12/31/2015
Perf: $2,352.19 Date: 11/30/2015
Perf: $2,389.95 Date: 10/31/2015
Perf: $2,382.80 Date: 9/30/2015
Perf: $2,197.34 Date: 8/31/2015
Perf: $2,252.99 Date: 7/31/2015
Perf: $2,397.57 Date: 6/30/2015
Perf: $2,348.25 Date: 5/31/2015
Perf: $2,394.71 Date: 4/30/2015
Perf: $2,364.21 Date: 3/31/2015
Perf: $2,341.73 Date: 2/28/2015
Perf: $2,379.32 Date: 1/31/2015
Perf: $2,249.95 Date: 12/31/2014
Perf: $2,319.54 Date: 11/30/2014
Perf: $2,325.35 Date: 10/31/2014
Perf: $2,264.44 Date: 9/30/2014
Perf: $2,210.50 Date: 8/31/2014
Perf: $2,241.89 Date: 7/31/2014
Perf: $2,155.66 Date: 6/30/2014
Perf: $2,185.83 Date: 5/31/2014
Perf: $2,141.50 Date: 4/30/2014
Perf: $2,092.33 Date: 3/31/2014
Perf: $2,076.96 Date: 2/28/2014
Perf: $2,059.66 Date: 1/31/2014
Perf: $1,969.64 Date: 12/31/2013
Perf: $2,040.24 Date: 11/30/2013
Perf: $1,989.89 Date: 10/31/2013
Perf: $1,931.00 Date: 9/30/2013
Perf: $1,846.08 Date: 8/31/2013
Perf: $1,789.88 Date: 7/31/2013
Perf: $1,843.33 Date: 6/30/2013
Perf: $1,754.05 Date: 5/31/2013
Perf: $1,777.87 Date: 4/30/2013
Perf: $1,737.22 Date: 3/31/2013
Perf: $1,704.33 Date: 2/28/2013
Perf: $1,642.73 Date: 1/31/2013
Perf: $1,620.69 Date: 12/31/2012
Perf: $1,540.87 Date: 11/30/2012
Perf: $1,526.97 Date: 10/31/2012
Perf: $1,518.17 Date: 9/30/2012
Perf: $1,546.78 Date: 8/31/2012
Perf: $1,507.88 Date: 7/31/2012
Perf: $1,474.70 Date: 6/30/2012
Perf: $1,454.48 Date: 5/31/2012
Perf: $1,396.93 Date: 4/30/2012
Perf: $1,486.25 Date: 3/31/2012
Perf: $1,495.68 Date: 2/29/2012
Perf: $1,448.04 Date: 1/31/2012
Perf: $1,388.07 Date: 12/31/2011
Perf: $1,328.55 Date: 11/30/2011
Perf: $1,315.14 Date: 10/31/2011
Perf: $1,318.04 Date: 9/30/2011
Perf: $1,188.17 Date: 8/31/2011
Perf: $1,278.01 Date: 7/31/2011
Perf: $1,351.39 Date: 6/30/2011
Perf: $1,379.40 Date: 5/31/2011
Perf: $1,402.82 Date: 4/30/2011
Perf: $1,418.86 Date: 3/31/2011
Perf: $1,378.07 Date: 2/28/2011
Perf: $1,377.52 Date: 1/31/2011
Perf: $1,331.83 Date: 12/31/2010
Perf: $1,301.00 Date: 11/30/2010
Perf: $1,219.53 Date: 10/31/2010
Perf: $1,219.41 Date: 9/30/2010
Perf: $1,174.66 Date: 8/31/2010
Perf: $1,078.46 Date: 7/31/2010
Perf: $1,129.40 Date: 6/30/2010
Perf: $1,055.41 Date: 5/31/2010
Perf: $1,113.66 Date: 4/30/2010
Perf: $1,210.36 Date: 3/31/2010
Perf: $1,191.54 Date: 2/28/2010
Perf: $1,123.77 Date: 1/31/2010
Perf: $1,089.98 Date: 12/31/2009
Perf: $1,130.69 Date: 11/30/2009
Perf: $1,109.28 Date: 10/31/2009
Perf: $1,046.49 Date: 9/30/2009
Perf: $1,066.32 Date: 8/31/2009
Perf: $1,027.98 Date: 7/31/2009
Perf: $992.16 Date: 6/30/2009
Perf: $922.43 Date: 5/31/2009
Perf: $920.59 Date: 4/30/2009
Perf: $871.85 Date: 3/31/2009
Perf: $795.70 Date: 2/28/2009
Perf: $731.61 Date: 1/31/2009
Perf: $818.82 Date: 12/31/2008
Perf: $894.20 Date: 11/30/2008
Perf: $884.82 Date: 10/31/2008
Perf: $953.26 Date: 9/30/2008
Perf: $1,145.61 Date: 8/31/2008
Perf: $1,257.67 Date: 7/31/2008
Perf: $1,239.69 Date: 6/30/2008
Perf: $1,250.19 Date: 5/31/2008
Perf: $1,365.29 Date: 4/30/2008
Perf: $1,347.77 Date: 3/31/2008
Perf: $1,285.18 Date: 2/29/2008
Perf: $1,290.73 Date: 1/31/2008
Perf: $1,334.09 Date: 12/31/2007
Perf: $1,419.24 Date: 11/30/2007
Perf: $1,429.10 Date: 10/31/2007
Perf: $1,491.44 Date: 9/30/2007
Perf: $1,468.10 Date: 8/31/2007
Perf: $1,415.17 Date: 7/31/2007
Perf: $1,394.26 Date: 6/30/2007
Perf: $1,438.86 Date: 5/31/2007
Perf: $1,463.15 Date: 4/30/2007
Perf: $1,413.81 Date: 3/31/2007
Perf: $1,353.84 Date: 2/28/2007
Perf: $1,338.84 Date: 1/31/2007
Perf: $1,365.61 Date: 12/31/2006
Perf: $1,345.29 Date: 11/30/2006
Perf: $1,326.72 Date: 10/31/2006
Perf: $1,301.98 Date: 9/30/2006
Perf: $1,260.88 Date: 8/31/2006
Perf: $1,229.16 Date: 7/31/2006
Perf: $1,200.59 Date: 6/30/2006
Perf: $1,193.19 Date: 5/31/2006
Perf: $1,191.52 Date: 4/30/2006
Perf: $1,226.86 Date: 3/31/2006
Perf: $1,210.64 Date: 2/28/2006
Perf: $1,195.81 Date: 1/31/2006
Perf: $1,192.59 Date: 12/31/2005
Perf: $1,161.80 Date: 11/30/2005
Perf: $1,161.45 Date: 10/31/2005
Perf: $1,119.15 Date: 9/30/2005
Perf: $1,138.15 Date: 8/31/2005
Perf: $1,129.01 Date: 7/31/2005
Perf: $1,139.38 Date: 6/30/2005
Perf: $1,098.51 Date: 5/31/2005
Perf: $1,096.98 Date: 4/30/2005
Perf: $1,063.17 Date: 3/31/2005
Perf: $1,083.76 Date: 2/28/2005
Perf: $1,103.29 Date: 1/31/2005
Perf: $1,080.60 Date: 12/31/2004
Perf: $1,107.62 Date: 11/30/2004
Perf: $1,071.20 Date: 10/31/2004
Perf: $1,029.51 Date: 9/30/2004
Perf: $1,013.99 Date: 8/31/2004
Perf: $1,003.16 Date: 7/31/2004
Perf: $999.16 Date: 6/30/2004
Perf: $1,033.37 Date: 5/31/2004
Perf: $1,013.70 Date: 4/30/2004
Perf: $1,000.00 Date: 11/30/2017
Perf: $2,385.65 Date: 10/31/2017
Perf: $2,405.86 Date: 9/30/2017
Perf: $2,172.73 Date: 8/31/2017
Perf: $2,271.30 Date: 7/31/2017
Perf: $2,293.32 Date: 6/30/2017
Perf: $2,173.76 Date: 5/31/2017
Perf: $2,106.77 Date: 4/30/2017
Perf: $2,037.49 Date: 3/31/2017
Perf: $2,022.33 Date: 2/28/2017
Perf: $2,119.17 Date: 1/31/2017
Perf: $2,087.24 Date: 12/31/2016
Perf: $2,168.78 Date: 11/30/2016
Perf: $2,149.86 Date: 10/31/2016
Perf: $2,288.55 Date: 9/30/2016
Perf: $2,334.06 Date: 8/31/2016
Perf: $2,411.47 Date: 7/31/2016
Perf: $2,446.46 Date: 6/30/2016
Perf: $2,452.59 Date: 5/31/2016
Perf: $2,250.08 Date: 4/30/2016
Perf: $2,316.09 Date: 3/31/2016
Perf: $2,323.52 Date: 2/29/2016
Perf: $2,469.21 Date: 1/31/2016
Perf: $2,136.18 Date: 12/31/2015
Perf: $2,042.82 Date: 11/30/2015
Perf: $2,097.14 Date: 10/31/2015
Perf: $2,114.69 Date: 9/30/2015
Perf: $2,263.88 Date: 8/31/2015
Perf: $2,189.01 Date: 7/31/2015
Perf: $2,268.88 Date: 6/30/2015
Perf: $2,328.49 Date: 5/31/2015
Perf: $2,392.61 Date: 4/30/2015
Perf: $2,395.24 Date: 3/31/2015
Perf: $2,279.45 Date: 2/28/2015
Perf: $2,238.04 Date: 1/31/2015
Perf: $2,256.32 Date: 12/31/2014
Perf: $2,159.57 Date: 11/30/2014
Perf: $2,135.86 Date: 10/31/2014
Perf: $1,984.08 Date: 9/30/2014
Perf: $2,074.31 Date: 8/31/2014
Perf: $2,036.84 Date: 7/31/2014
Perf: $1,990.46 Date: 6/30/2014
Perf: $1,944.00 Date: 5/31/2014
Perf: $1,940.50 Date: 4/30/2014
Perf: $1,890.22 Date: 3/31/2014
Perf: $1,848.81 Date: 2/28/2014
Perf: $1,946.73 Date: 1/31/2014
Perf: $1,919.85 Date: 12/31/2013
Perf: $2,105.10 Date: 11/30/2013
Perf: $2,083.23 Date: 10/31/2013
Perf: $2,032.22 Date: 9/30/2013
Perf: $1,972.65 Date: 8/31/2013
Perf: $1,984.55 Date: 7/31/2013
Perf: $1,993.72 Date: 6/30/2013
Perf: $2,100.43 Date: 5/31/2013
Perf: $2,178.41 Date: 4/30/2013
Perf: $2,296.21 Date: 3/31/2013
Perf: $2,320.81 Date: 2/28/2013
Perf: $2,213.04 Date: 1/31/2013
Perf: $2,263.97 Date: 12/31/2012
Perf: $2,009.03 Date: 11/30/2012
Perf: $1,854.72 Date: 10/31/2012
Perf: $1,833.81 Date: 9/30/2012
Perf: $1,841.36 Date: 8/31/2012
Perf: $1,879.13 Date: 7/31/2012
Perf: $1,960.90 Date: 6/30/2012
Perf: $1,914.76 Date: 5/31/2012
Perf: $2,082.16 Date: 4/30/2012
Perf: $1,850.81 Date: 3/31/2012
Perf: $1,916.35 Date: 2/29/2012
Perf: $1,973.79 Date: 1/31/2012
Perf: $1,904.65 Date: 12/31/2011
Perf: $1,931.69 Date: 11/30/2011
Perf: $1,924.19 Date: 10/31/2011
Perf: $1,924.19 Date: 9/30/2011
Perf: $2,087.42 Date: 8/31/2011
Perf: $2,006.17 Date: 7/31/2011
Perf: $1,969.15 Date: 6/30/2011
Perf: $1,863.49 Date: 5/31/2011
Perf: $1,960.54 Date: 4/30/2011
Perf: $2,003.00 Date: 3/31/2011
Perf: $1,889.63 Date: 2/28/2011
Perf: $2,026.84 Date: 1/31/2011
Perf: $1,996.50 Date: 12/31/2010
Perf: $2,036.20 Date: 11/30/2010
Perf: $1,953.57 Date: 10/31/2010
Perf: $2,114.48 Date: 9/30/2010
Perf: $2,105.42 Date: 8/31/2010
Perf: $2,183.82 Date: 7/31/2010
Perf: $1,903.45 Date: 6/30/2010
Perf: $1,872.73 Date: 5/31/2010
Perf: $1,669.85 Date: 4/30/2010
Perf: $1,599.93 Date: 3/31/2010
Perf: $1,605.23 Date: 2/28/2010
Perf: $1,553.80 Date: 1/31/2010
Perf: $1,526.92 Date: 12/31/2009
Perf: $1,616.82 Date: 11/30/2009
Perf: $1,841.48 Date: 10/31/2009
Perf: $1,716.68 Date: 9/30/2009
Perf: $1,786.90 Date: 8/31/2009
Perf: $1,701.32 Date: 7/31/2009
Perf: $1,701.15 Date: 6/30/2009
Perf: $1,662.58 Date: 5/31/2009
Perf: $1,761.77 Date: 4/30/2009
Perf: $1,539.20 Date: 3/31/2009
Perf: $1,687.17 Date: 2/28/2009
Perf: $2,081.89 Date: 1/31/2009
Perf: $1,954.83 Date: 12/31/2008
Perf: $2,125.51 Date: 11/30/2008
Perf: $1,875.34 Date: 10/31/2008
Perf: $1,656.07 Date: 9/30/2008
Perf: $1,311.22 Date: 8/31/2008
Perf: $1,311.48 Date: 7/31/2008
Perf: $1,197.81 Date: 6/30/2008
Perf: $1,387.00 Date: 5/31/2008
Perf: $1,337.25 Date: 4/30/2008
Perf: $1,399.68 Date: 3/31/2008
Perf: $1,731.20 Date: 2/29/2008
Perf: $1,526.90 Date: 1/31/2008
Perf: $1,496.96 Date: 12/31/2007
Perf: $1,328.86 Date: 11/30/2007
Perf: $1,446.15 Date: 10/31/2007
Perf: $1,527.57 Date: 9/30/2007
Perf: $1,405.69 Date: 8/31/2007
Perf: $1,263.32 Date: 7/31/2007
Perf: $1,272.35 Date: 6/30/2007
Perf: $1,408.87 Date: 5/31/2007
Perf: $1,407.04 Date: 4/30/2007
Perf: $1,317.95 Date: 3/31/2007
Perf: $1,221.57 Date: 2/28/2007
Perf: $1,255.20 Date: 1/31/2007
Perf: $1,349.68 Date: 12/31/2006
Perf: $1,273.77 Date: 11/30/2006
Perf: $1,374.67 Date: 10/31/2006
Perf: $1,300.41 Date: 9/30/2006
Perf: $1,254.74 Date: 8/31/2006
Perf: $1,262.57 Date: 7/31/2006
Perf: $1,211.21 Date: 6/30/2006
Perf: $1,298.75 Date: 5/31/2006
Perf: $1,388.59 Date: 4/30/2006
Perf: $1,410.45 Date: 3/31/2006
Perf: $1,321.64 Date: 2/28/2006
Perf: $1,273.50 Date: 1/31/2006
Perf: $1,301.22 Date: 12/31/2005
Perf: $1,328.86 Date: 11/30/2005
Perf: $1,250.92 Date: 10/31/2005
Perf: $1,164.73 Date: 9/30/2005
Perf: $1,276.56 Date: 8/31/2005
Perf: $1,100.67 Date: 7/31/2005
Perf: $1,160.31 Date: 6/30/2005
Perf: $1,179.18 Date: 5/31/2005
Perf: $1,045.37 Date: 4/30/2005
Perf: $948.79 Date: 3/31/2005
Perf: $911.59 Date: 2/28/2005
Perf: $931.15 Date: 1/31/2005
Perf: $907.82 Date: 12/31/2004
Perf: $1,035.73 Date: 11/30/2004
Perf: $1,019.82 Date: 10/31/2004
Perf: $766.21 Date: 9/30/2004
Perf: $736.81 Date: 8/31/2004
Perf: $740.36 Date: 7/31/2004
Perf: $712.50 Date: 6/30/2004
Perf: $848.01 Date: 5/31/2004
Perf: $896.80 Date: 4/30/2004
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 04/04 - 11/17
Date: 11/30/2017
Return: -0.84 % Date: 10/31/2017
Return: 10.73 % Date: 9/30/2017
Return: -4.34 % Date: 8/31/2017
Return: -0.96 % Date: 7/31/2017
Return: 5.50 % Date: 6/30/2017
Return: 3.18 % Date: 5/31/2017
Return: 3.40 % Date: 4/30/2017
Return: 0.75 % Date: 3/31/2017
Return: -4.57 % Date: 2/28/2017
Return: 1.53 % Date: 1/31/2017
Return: -3.76 % Date: 12/31/2016
Return: 0.88 % Date: 11/30/2016
Return: -6.06 % Date: 10/31/2016
Return: -1.95 % Date: 9/30/2016
Return: -3.21 % Date: 8/31/2016
Return: -1.43 % Date: 7/31/2016
Return: -0.25 % Date: 6/30/2016
Return: 9.00 % Date: 5/31/2016
Return: -2.85 % Date: 4/30/2016
Return: -0.32 % Date: 3/31/2016
Return: -5.90 % Date: 2/29/2016
Return: 15.59 % Date: 1/31/2016
Return: 4.57 % Date: 12/31/2015
Return: -2.59 % Date: 11/30/2015
Return: -0.83 % Date: 10/31/2015
Return: -6.59 % Date: 9/30/2015
Return: 3.42 % Date: 8/31/2015
Return: -3.52 % Date: 7/31/2015
Return: -2.56 % Date: 6/30/2015
Return: -2.68 % Date: 5/31/2015
Return: -0.11 % Date: 4/30/2015
Return: 5.08 % Date: 3/31/2015
Return: 1.85 % Date: 2/28/2015
Return: -0.81 % Date: 1/31/2015
Return: 4.48 % Date: 12/31/2014
Return: 1.11 % Date: 11/30/2014
Return: 7.65 % Date: 10/31/2014
Return: -4.35 % Date: 9/30/2014
Return: 1.84 % Date: 8/31/2014
Return: 2.33 % Date: 7/31/2014
Return: 2.39 % Date: 6/30/2014
Return: 0.18 % Date: 5/31/2014
Return: 2.66 % Date: 4/30/2014
Return: 2.24 % Date: 3/31/2014
Return: -5.03 % Date: 2/28/2014
Return: 1.40 % Date: 1/31/2014
Return: -8.80 % Date: 12/31/2013
Return: 1.05 % Date: 11/30/2013
Return: 2.51 % Date: 10/31/2013
Return: 3.02 % Date: 9/30/2013
Return: -0.60 % Date: 8/31/2013
Return: -0.46 % Date: 7/31/2013
Return: -5.08 % Date: 6/30/2013
Return: -3.58 % Date: 5/31/2013
Return: -5.13 % Date: 4/30/2013
Return: -1.06 % Date: 3/31/2013
Return: 4.87 % Date: 2/28/2013
Return: -2.25 % Date: 1/31/2013
Return: 12.69 % Date: 12/31/2012
Return: 8.32 % Date: 11/30/2012
Return: 1.14 % Date: 10/31/2012
Return: -0.41 % Date: 9/30/2012
Return: -2.01 % Date: 8/31/2012
Return: -4.17 % Date: 7/31/2012
Return: 2.41 % Date: 6/30/2012
Return: -8.04 % Date: 5/31/2012
Return: 12.50 % Date: 4/30/2012
Return: -3.42 % Date: 3/31/2012
Return: -2.91 % Date: 2/29/2012
Return: 3.63 % Date: 1/31/2012
Return: -1.40 % Date: 12/31/2011
Return: 0.39 % Date: 11/30/2011
Return: 0.00 % Date: 10/31/2011
Return: -7.82 % Date: 9/30/2011
Return: 4.05 % Date: 8/31/2011
Return: 1.88 % Date: 7/31/2011
Return: 5.67 % Date: 6/30/2011
Return: -4.95 % Date: 5/31/2011
Return: -2.12 % Date: 4/30/2011
Return: 6.00 % Date: 3/31/2011
Return: -6.77 % Date: 2/28/2011
Return: 1.52 % Date: 1/31/2011
Return: -1.95 % Date: 12/31/2010
Return: 4.23 % Date: 11/30/2010
Return: -7.61 % Date: 10/31/2010
Return: 0.43 % Date: 9/30/2010
Return: -3.59 % Date: 8/31/2010
Return: 14.73 % Date: 7/31/2010
Return: 1.64 % Date: 6/30/2010
Return: 12.15 % Date: 5/31/2010
Return: 4.37 % Date: 4/30/2010
Return: -0.33 % Date: 3/31/2010
Return: 3.31 % Date: 2/28/2010
Return: 1.76 % Date: 1/31/2010
Return: -5.56 % Date: 12/31/2009
Return: -12.20 % Date: 11/30/2009
Return: 7.27 % Date: 10/31/2009
Return: -3.93 % Date: 9/30/2009
Return: 5.03 % Date: 8/31/2009
Return: 0.01 % Date: 7/31/2009
Return: 2.32 % Date: 6/30/2009
Return: -5.63 % Date: 5/31/2009
Return: 14.46 % Date: 4/30/2009
Return: -8.77 % Date: 3/31/2009
Return: -18.96 % Date: 2/28/2009
Return: 6.50 % Date: 1/31/2009
Return: -8.03 % Date: 12/31/2008
Return: 13.34 % Date: 11/30/2008
Return: 13.24 % Date: 10/31/2008
Return: 26.30 % Date: 9/30/2008
Return: -0.02 % Date: 8/31/2008
Return: 9.49 % Date: 7/31/2008
Return: -13.64 % Date: 6/30/2008
Return: 3.72 % Date: 5/31/2008
Return: -4.46 % Date: 4/30/2008
Return: -19.15 % Date: 3/31/2008
Return: 13.38 % Date: 2/29/2008
Return: 2.00 % Date: 1/31/2008
Return: 12.65 % Date: 12/31/2007
Return: -8.11 % Date: 11/30/2007
Return: -5.33 % Date: 10/31/2007
Return: 8.67 % Date: 9/30/2007
Return: 11.27 % Date: 8/31/2007
Return: -0.71 % Date: 7/31/2007
Return: -9.69 % Date: 6/30/2007
Return: 0.13 % Date: 5/31/2007
Return: 6.76 % Date: 4/30/2007
Return: 7.89 % Date: 3/31/2007
Return: -2.68 % Date: 2/28/2007
Return: -7.00 % Date: 1/31/2007
Return: 5.96 % Date: 12/31/2006
Return: -7.34 % Date: 11/30/2006
Return: 5.71 % Date: 10/31/2006
Return: 3.64 % Date: 9/30/2006
Return: -0.62 % Date: 8/31/2006
Return: 4.24 % Date: 7/31/2006
Return: -6.74 % Date: 6/30/2006
Return: -6.47 % Date: 5/31/2006
Return: -1.55 % Date: 4/30/2006
Return: 6.72 % Date: 3/31/2006
Return: 3.78 % Date: 2/28/2006
Return: -2.13 % Date: 1/31/2006
Return: -2.08 % Date: 12/31/2005
Return: 6.23 % Date: 11/30/2005
Return: 7.40 % Date: 10/31/2005
Return: -8.76 % Date: 9/30/2005
Return: 15.98 % Date: 8/31/2005
Return: -5.14 % Date: 7/31/2005
Return: -1.60 % Date: 6/30/2005
Return: 12.80 % Date: 5/31/2005
Return: 10.18 % Date: 4/30/2005
Return: 4.08 % Date: 3/31/2005
Return: -2.10 % Date: 2/28/2005
Return: 2.57 % Date: 1/31/2005
Return: -12.35 % Date: 12/31/2004
Return: 1.56 % Date: 11/30/2004
Return: 33.10 % Date: 10/31/2004
Return: 3.99 % Date: 9/30/2004
Return: -0.48 % Date: 8/31/2004
Return: 3.91 % Date: 7/31/2004
Return: -15.98 % Date: 6/30/2004
Return: -5.44 % Date: 5/31/2004
Return: -10.32 % Date: 4/30/2004
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 04/04 - 11/17
Return: 1.00 %
Count: 6 Return: 15.00 %
Count: 1 Return: 12.00 %
Count: 1 Return: 5.00 %
Count: 5 Return: 14.00 %
Count: 1 Return: 26.00 %
Count: 1 Return: -14.00 %
Count: 1 Return: -4.00 %
Count: 9 Return: -19.00 %
Count: 2 Return: -8.00 %
Count: 5 Return: 9.00 %
Count: 3 Return: 11.00 %
Count: 2 Return: 8.00 %
Count: 3 Return: -3.00 %
Count: 8 Return: -1.00 %
Count: 10 Return: -7.00 %
Count: 5 Return: -6.00 %
Count: 5 Return: 6.00 %
Count: 5 Return: 7.00 %
Count: 5 Return: -9.00 %
Count: 3 Return: 16.00 %
Count: 2 Return: 13.00 %
Count: 7 Return: 10.00 %
Count: 1 Return: -2.00 %
Count: 10 Return: 3.00 %
Count: 8 Return: -12.00 %
Count: 2 Return: 2.00 %
Count: 14 Return: 33.00 %
Count: 1 Return: 4.00 %
Count: 12 Return: -16.00 %
Count: 1 Return: -5.00 %
Count: 8 Return: -10.00 %
Count: 2 Return: 0.00 %
Count: 15
Note: All performance data is since program inception.

Underwater Curve
Date Range: 04/04 - 11/17
Date: 11/30/2017
Drawdown: -3.38 % Date: 10/31/2017
Drawdown: -2.57 % Date: 9/30/2017
Drawdown: -12.01 % Date: 8/31/2017
Drawdown: -8.01 % Date: 7/31/2017
Drawdown: -7.12 % Date: 6/30/2017
Drawdown: -11.97 % Date: 5/31/2017
Drawdown: -14.68 % Date: 4/30/2017
Drawdown: -17.48 % Date: 3/31/2017
Drawdown: -18.10 % Date: 2/28/2017
Drawdown: -14.18 % Date: 1/31/2017
Drawdown: -15.47 % Date: 12/31/2016
Drawdown: -12.17 % Date: 11/30/2016
Drawdown: -12.93 % Date: 10/31/2016
Drawdown: -7.32 % Date: 9/30/2016
Drawdown: -5.47 % Date: 8/31/2016
Drawdown: -2.34 % Date: 7/31/2016
Drawdown: -0.92 % Date: 6/30/2016
Drawdown: -0.67 % Date: 5/31/2016
Drawdown: -8.87 % Date: 4/30/2016
Drawdown: -6.20 % Date: 3/31/2016
Drawdown: -5.90 % Date: 2/29/2016
Drawdown: 0.00 % Date: 1/31/2016
Drawdown: -10.82 % Date: 12/31/2015
Drawdown: -14.71 % Date: 11/30/2015
Drawdown: -12.45 % Date: 10/31/2015
Drawdown: -11.71 % Date: 9/30/2015
Drawdown: -5.48 % Date: 8/31/2015
Drawdown: -8.61 % Date: 7/31/2015
Drawdown: -5.28 % Date: 6/30/2015
Drawdown: -2.79 % Date: 5/31/2015
Drawdown: -0.11 % Date: 4/30/2015
Drawdown: 0.00 % Date: 3/31/2015
Drawdown: -1.78 % Date: 2/28/2015
Drawdown: -3.57 % Date: 1/31/2015
Drawdown: -2.78 % Date: 12/31/2014
Drawdown: -6.95 % Date: 11/30/2014
Drawdown: -7.97 % Date: 10/31/2014
Drawdown: -14.51 % Date: 9/30/2014
Drawdown: -10.62 % Date: 8/31/2014
Drawdown: -12.24 % Date: 7/31/2014
Drawdown: -14.23 % Date: 6/30/2014
Drawdown: -16.24 % Date: 5/31/2014
Drawdown: -16.39 % Date: 4/30/2014
Drawdown: -18.55 % Date: 3/31/2014
Drawdown: -20.34 % Date: 2/28/2014
Drawdown: -16.12 % Date: 1/31/2014
Drawdown: -17.28 % Date: 12/31/2013
Drawdown: -9.29 % Date: 11/30/2013
Drawdown: -10.24 % Date: 10/31/2013
Drawdown: -12.43 % Date: 9/30/2013
Drawdown: -15.00 % Date: 8/31/2013
Drawdown: -14.49 % Date: 7/31/2013
Drawdown: -14.09 % Date: 6/30/2013
Drawdown: -9.50 % Date: 5/31/2013
Drawdown: -6.14 % Date: 4/30/2013
Drawdown: -1.06 % Date: 3/31/2013
Drawdown: 0.00 % Date: 2/28/2013
Drawdown: -2.25 % Date: 1/31/2013
Drawdown: 0.00 % Date: 12/31/2012
Drawdown: -8.00 % Date: 11/30/2012
Drawdown: -15.07 % Date: 10/31/2012
Drawdown: -16.03 % Date: 9/30/2012
Drawdown: -15.68 % Date: 8/31/2012
Drawdown: -13.95 % Date: 7/31/2012
Drawdown: -10.21 % Date: 6/30/2012
Drawdown: -12.32 % Date: 5/31/2012
Drawdown: -4.66 % Date: 4/30/2012
Drawdown: -15.25 % Date: 3/31/2012
Drawdown: -12.25 % Date: 2/29/2012
Drawdown: -9.62 % Date: 1/31/2012
Drawdown: -12.78 % Date: 12/31/2011
Drawdown: -11.55 % Date: 11/30/2011
Drawdown: -11.89 % Date: 10/31/2011
Drawdown: -11.89 % Date: 9/30/2011
Drawdown: -4.41 % Date: 8/31/2011
Drawdown: -8.13 % Date: 7/31/2011
Drawdown: -9.83 % Date: 6/30/2011
Drawdown: -14.67 % Date: 5/31/2011
Drawdown: -10.22 % Date: 4/30/2011
Drawdown: -8.28 % Date: 3/31/2011
Drawdown: -13.47 % Date: 2/28/2011
Drawdown: -7.19 % Date: 1/31/2011
Drawdown: -8.58 % Date: 12/31/2010
Drawdown: -6.76 % Date: 11/30/2010
Drawdown: -10.54 % Date: 10/31/2010
Drawdown: -3.18 % Date: 9/30/2010
Drawdown: -3.59 % Date: 8/31/2010
Drawdown: 0.00 % Date: 7/31/2010
Drawdown: -10.45 % Date: 6/30/2010
Drawdown: -11.89 % Date: 5/31/2010
Drawdown: -21.44 % Date: 4/30/2010
Drawdown: -24.73 % Date: 3/31/2010
Drawdown: -24.48 % Date: 2/28/2010
Drawdown: -26.90 % Date: 1/31/2010
Drawdown: -28.16 % Date: 12/31/2009
Drawdown: -23.93 % Date: 11/30/2009
Drawdown: -13.36 % Date: 10/31/2009
Drawdown: -19.23 % Date: 9/30/2009
Drawdown: -15.93 % Date: 8/31/2009
Drawdown: -19.96 % Date: 7/31/2009
Drawdown: -19.96 % Date: 6/30/2009
Drawdown: -21.78 % Date: 5/31/2009
Drawdown: -17.11 % Date: 4/30/2009
Drawdown: -27.58 % Date: 3/31/2009
Drawdown: -20.62 % Date: 2/28/2009
Drawdown: -2.05 % Date: 1/31/2009
Drawdown: -8.03 % Date: 12/31/2008
Drawdown: 0.00 % Date: 11/30/2008
Drawdown: 0.00 % Date: 10/31/2008
Drawdown: -4.34 % Date: 9/30/2008
Drawdown: -24.26 % Date: 8/31/2008
Drawdown: -24.24 % Date: 7/31/2008
Drawdown: -30.81 % Date: 6/30/2008
Drawdown: -19.88 % Date: 5/31/2008
Drawdown: -22.76 % Date: 4/30/2008
Drawdown: -19.15 % Date: 3/31/2008
Drawdown: 0.00 % Date: 2/29/2008
Drawdown: -0.04 % Date: 1/31/2008
Drawdown: -2.00 % Date: 12/31/2007
Drawdown: -13.01 % Date: 11/30/2007
Drawdown: -5.33 % Date: 10/31/2007
Drawdown: 0.00 % Date: 9/30/2007
Drawdown: -0.34 % Date: 8/31/2007
Drawdown: -10.43 % Date: 7/31/2007
Drawdown: -9.79 % Date: 6/30/2007
Drawdown: -0.11 % Date: 5/31/2007
Drawdown: -0.24 % Date: 4/30/2007
Drawdown: -6.56 % Date: 3/31/2007
Drawdown: -13.39 % Date: 2/28/2007
Drawdown: -11.01 % Date: 1/31/2007
Drawdown: -4.31 % Date: 12/31/2006
Drawdown: -9.69 % Date: 11/30/2006
Drawdown: -2.54 % Date: 10/31/2006
Drawdown: -7.80 % Date: 9/30/2006
Drawdown: -11.04 % Date: 8/31/2006
Drawdown: -10.48 % Date: 7/31/2006
Drawdown: -14.13 % Date: 6/30/2006
Drawdown: -7.92 % Date: 5/31/2006
Drawdown: -1.55 % Date: 4/30/2006
Drawdown: 0.00 % Date: 3/31/2006
Drawdown: -0.54 % Date: 2/28/2006
Drawdown: -4.17 % Date: 1/31/2006
Drawdown: -2.08 % Date: 12/31/2005
Drawdown: 0.00 % Date: 11/30/2005
Drawdown: -2.01 % Date: 10/31/2005
Drawdown: -8.76 % Date: 9/30/2005
Drawdown: 0.00 % Date: 8/31/2005
Drawdown: -6.66 % Date: 7/31/2005
Drawdown: -1.60 % Date: 6/30/2005
Drawdown: 0.00 % Date: 5/31/2005
Drawdown: 0.00 % Date: 4/30/2005
Drawdown: -8.39 % Date: 3/31/2005
Drawdown: -11.99 % Date: 2/28/2005
Drawdown: -10.10 % Date: 1/31/2005
Drawdown: -12.35 % Date: 12/31/2004
Drawdown: 0.00 % Date: 11/30/2004
Drawdown: 0.00 % Date: 10/31/2004
Drawdown: -23.38 % Date: 9/30/2004
Drawdown: -26.32 % Date: 8/31/2004
Drawdown: -25.96 % Date: 7/31/2004
Drawdown: -28.75 % Date: 6/30/2004
Drawdown: -15.20 % Date: 5/31/2004
Drawdown: -10.32 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  Clarke Capital Management, Inc.
Address: 191 N. Wacker Drive, Suite #1025
City: Chicago
State: IL
Zip: 60606
Country: USA
Key People
Name:  David Wesolowicz
Position:  Principal
Biography: 

David G. Wesolowicz has served as Chief Financial Officer and Chief Compliance Officer for Clarke Capital Management since August, 2004. He graduated cum laude from Michigan State University in August, 1976 with a bachelor’s degree in Accounting and became a Certified Public Accountant in November, 1976. He was employed as a CPA from September, 1976 to April, 1981 for Coopers & Lybrand (n/k/a PriceWaterhouseCoopers) and Beatrice Foods. From April, 1981 to January, 1990, he traded both options and futures for his own account as a member of the Chicago Board Options Exchange and the Chicago Board of Trade and was a member of several exchange committees. From January, 1990 to May, 1990, Mr. Wesolowicz was involved in self-directed research of financial markets. From May, 1990 to August, 2004, Mr. Wesolowicz was president of Essex Trading Group, Ltd. and its affiliate, Essex Trading Company, Ltd., a leader in the research and development of trading systems and techniques. Essex Trading Group, Ltd. was registered as an Introducing Broker and both Essex Trading Group, Ltd. and Essex Trading Company, Ltd. were registered as Commodity Trading Advisors with the NFA. On September 3, 2004, Mr. Wesolowicz was registered as an Associated Person and on January 24, 2007, Mr. Wesolowicz was registered as a principal of Clarke Capital Management, Inc.


Name:  Michael Clarke
Position:  Director
Biography: 

Michael Clarke is the Chairman of the Board of Clarke Capital Management, Inc. Mr. Clarke's employment history is the following: The period 2/83 through 2/85 was spent as an independent contractor trading equities and options for Rice, Naegele & Associates of Chicago, a firm involved in private speculation. From 2/85 through 3/89, Mr. Clarke as an independent contractor traded equities and options in a firm account of Shatkin Investment Corp., then a clearing member of the Chicago Board Options Exchange. From 3/89 to 11/89, Mr. Clarke as an independent contractor traded equities and options in a firm account of French-American Securities, a private investment company based in Chicago. From 11/89 to December 9, 1993, Mr. Clarke was self-employed; developing methods to trade futures and other commodity interests and trading various personal accounts. From January, 2010 to May, 2012, Mr. Clarke served as the Chief Executive Officer of Clarke Capital Management, Inc. As of October 25, 1993, Mr. Clarke has been employed as an Associated Person and principal of Clarke Capital Management, Inc., a registered Commodity Trading Advisor. As of April 8th, 2011, Mr. Clarke has been employed as a branch office manager of Clarke Capital Management, Inc.


Name:  John O'Brien Jr.
Position:  Chief Executive Officer
Biography: 

John O'Brien Jr. is the Chief Executive Officer of Clarke Capital Management, Inc. Mr. O’Brien graduated from DePaul University in March, 2008 with a bachelor's degree in economics. Mr. O’Brien was employed as a floor broker and trader with R.J. O’Brien & Associates from June, 2003 to March, 2008. Mr. O’Brien was an Investment Analyst at O’Brien International, LLC (the parent company of Clarke Capital Management, Inc.), monitoring global macro-economic themes, performing due diligence on hedge funds and CTAs and investing the firm’s capital from March, 2008 until May, 2012. In May, 2012, Mr. O’Brien joined Clarke Capital Management, Inc. as Chief Executive Officer. Mr. O’Brien also serves as managing partner in Wag Holdings, LLC, a real estate investment group. On June 25, 2012, Mr. O'Brien was approved as a trading principal of Clarke Capital Management, Inc.


Name:  Andrew F. Owens
Position:  Director
Biography: 

Andrew F. Owens is the Information Technology Director for Clarke Capital Management. He graduated summa cum laude from Grove City College in May 1988 with a Bachelor of Science degree in Mathematics and Computer Science. From September 1988 to February 1990, Mr. Owens was a staff consultant for Andersen Consulting (n/k/a Accenture), an information systems consulting firm. From March 1990 to June 1991, Mr. Owens worked for Dominion Financial Group, Ltd., a commodity trading and research firm, as a systems programmer. He was employed by Roadway Package System (n/k/a FedEx Ground) as an applications developer from June 1991 to February 1992. From February 1992 to November 1994, Mr. Owens was the Manager of Information Systems at A.O. Management, a registered CTA, where he developed order generation, trade management, and research software. From November 1994 to August 1995, he was the Systems Manager for Federated Investors, specializing in the mutual fund firm’s 401(k) record-keeping and reporting software. From August 1995 to November 1996, Mr. Owens was Vice President at Grant Street Advisors, consultants to municipalities issuing and refunding municipal bonds, where he structured municipal bond refundings. In November 1996, he joined Dominion Capital Management, a registered CTA, where he was listed as Principal from December 2001, until his departure in July 2004. At Dominion, he served as Senior Vice President for Information Systems, developing short-term trading system software and automating back office operations. From July 2004 to October 2007, Mr. Owens was a Project Manager at Grant Street Group, a software development firm for government entities and financial institutions, designing and managing the installation of tax collection and billing systems for Florida county tax collectors. He was employed from October 2007 to December 2009 as the Information Systems Director for O’Brien International, LLC, a family wealth management office. From January 2010 to April 2011, Mr. Owens returned to Grant Street Group as an independent consultant, assisting with the management of Grant Street’s foreclosure auction website used by Florida county clerks of court. He has been employed at Clarke Capital Management as the Information Technology Director since April, 2011, and was registered as an Associated Person on March 16, 2012 and registered as a principal of Clarke Capital Management on November 6, 2013.


Additional Information

The Program Performance information presented in this and other areas of the www.managedfutures.com website was prepared by Altegris Clearing Solutions, LLC, an affiliate within the Altegris Group of Companies, based upon information provided by each respective manager of commodity futures and foreign currency trading programs tracked by Altegris Clearing Solutions and its affiliates. The Program Performance information does not contain opinion or analysis of Altegris Clearing Solutions or any of its affiliates, and the completeness and accuracy of performance information reported to Altegris Clearing Solutions cannot in all cases be independently verified. See “Additional Information” at the end of this page for further details regarding the presentation of performance. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.