Altegris Clearing Solutions Claughton Capital, LLC ARP Institutional Program *QEP*
Monthly Performance (%)
Date Range: 09/05 - 11/17
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2017 -5.41 0.26 5.55 -0.87 5.59 2.25 1.19 -8.59 -2.63 -0.94 -0.93 -5.31
2016 8.44 2.54 -0.08 1.19 -1.02 -1.40 1.78 -3.31 -13.16 0.92 5.36 3.89 3.58
2015 2.43 -4.53 -3.02 -2.04 -3.69 -8.76 0.00 10.94 -6.34 3.80 4.91 -11.95 -18.67
2014 5.13 4.15 -1.60 -4.33 -2.13 2.10 1.60 1.53 8.96 5.04 1.80 -1.46 21.98
2013 1.76 -1.15 -2.99 1.64 2.25 3.99 -3.98 -0.96 -0.49 -0.92 -2.01 6.73 3.41
2012 2.27 0.28 2.82 0.41 14.00 -5.01 0.56 -0.50 0.44 -1.84 -0.14 0.92 13.99
2011 -4.58 1.42 3.02 6.49 -14.00 1.95 0.75 5.56 2.74 -1.16 0.00 -2.12 -1.60
2010 1.91 -5.32 -0.37 -2.30 4.00 -3.64 -1.92 8.28 -0.86 3.05 -5.72 1.08 -2.68
2009 -3.77 2.44 -3.43 2.59 8.48 -1.58 0.49 -1.92 -1.19 -5.77 -2.72 -0.01 -6.92
2008 19.01 -7.19 -3.55 1.95 -4.99 7.43 0.19 0.32 -2.01 9.17 -2.37 -2.87 13.03
2007 1.64 4.13 -1.08 4.72 6.46 0.46 -0.21 -5.19 4.38 -4.40 12.12 -7.87 14.35
2006 4.04 0.28 1.60 8.33 2.14 -1.25 -3.87 4.66 -1.16 3.34 -0.48 1.50 20.23
2005 -2.06 4.33 0.18 2.36
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

The ARP strategy trades actively in an attempt to mitigate the cost of reversing positions established during trending market conditions. ARP uses a strategy of trading within a consolidation range that is determined each trading day. The consolidation range dynamically Claughton Capital, LLC shifts, expands and contracts depending upon market conditions. When a market is trading within the consolidation range, the ARP strategy trades that market using a pattern recognition methodology. When a market is trending, the ARP strategy will follow the trend in an attempt to capture profit from sustained price movements. The ARP strategy trades actively resulting in a higher brokerage commission cost than many other managed futures programs. The ARP strategy has historically traded an average annual number of contracts per given account size of between 50% and 100% more than the average of other managed futures programs. The Trading Advisor does not receive any portion of such commissions.

Performance Statistics
Date Range: 09/05 - 11/17
  Program SP500 TR Altegris 40
Total Return 62.64% 181.14% 42.39%
Annualized Return 4.08% 8.80% 2.93%
Annualized Std. Deviation 16.40% 13.96% 8.95%
Correlation -0.17 0.23
Sharpe Ratio (rf=2.5%) 0.10 0.45 0.05
Worst Month -14.00% -16.79% -5.20%
Date of Worst Month 05/2011 10/2008 06/2015
Worst Drawdown -25.54% -50.95% -15.74%
Date of Worst Drawdown 1/15 - 9/16 10/07 - 2/09 4/11 - 9/13
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 09/05 - 11/17
Year or YTD Program SP500 TR Altegris 40
2017 -5.31 20.51 0.15
2016 3.58 11.98 -3.13
2015 -18.67 1.41 0.09
2014 21.98 13.69 15.75
2013 3.41 32.41 -2.45
2012 13.99 15.98 -4.75
2011 -1.60 2.12 -3.23
2010 -2.68 15.06 11.33
2009 -6.92 26.45 -7.98
2008 13.03 -36.99 15.47
2007 14.35 5.50 7.18
2006 20.23 15.79 6.70
2005 2.36 2.08 2.57
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 09/05 - 11/17
Date: 11/30/2017
Perf: $1,402.33 Date: 10/31/2017
Perf: $1,400.51 Date: 9/30/2017
Perf: $1,344.19 Date: 8/31/2017
Perf: $1,373.17 Date: 7/31/2017
Perf: $1,350.74 Date: 6/30/2017
Perf: $1,345.50 Date: 5/31/2017
Perf: $1,385.97 Date: 4/30/2017
Perf: $1,383.34 Date: 3/31/2017
Perf: $1,391.69 Date: 2/28/2017
Perf: $1,412.31 Date: 1/31/2017
Perf: $1,382.18 Date: 12/31/2016
Perf: $1,400.24 Date: 11/30/2016
Perf: $1,389.68 Date: 10/31/2016
Perf: $1,405.13 Date: 9/30/2016
Perf: $1,442.35 Date: 8/31/2016
Perf: $1,461.20 Date: 7/31/2016
Perf: $1,501.59 Date: 6/30/2016
Perf: $1,486.43 Date: 5/31/2016
Perf: $1,425.83 Date: 4/30/2016
Perf: $1,451.23 Date: 3/31/2016
Perf: $1,488.59 Date: 2/29/2016
Perf: $1,532.57 Date: 1/31/2016
Perf: $1,495.78 Date: 12/31/2015
Perf: $1,445.48 Date: 11/30/2015
Perf: $1,479.50 Date: 10/31/2015
Perf: $1,430.72 Date: 9/30/2015
Perf: $1,456.05 Date: 8/31/2015
Perf: $1,425.13 Date: 7/31/2015
Perf: $1,450.22 Date: 6/30/2015
Perf: $1,395.65 Date: 5/31/2015
Perf: $1,472.20 Date: 4/30/2015
Perf: $1,482.88 Date: 3/31/2015
Perf: $1,542.41 Date: 2/28/2015
Perf: $1,509.06 Date: 1/31/2015
Perf: $1,511.48 Date: 12/31/2014
Perf: $1,444.18 Date: 11/30/2014
Perf: $1,419.21 Date: 10/31/2014
Perf: $1,339.50 Date: 9/30/2014
Perf: $1,320.10 Date: 8/31/2014
Perf: $1,300.72 Date: 7/31/2014
Perf: $1,247.93 Date: 6/30/2014
Perf: $1,258.00 Date: 5/31/2014
Perf: $1,247.27 Date: 4/30/2014
Perf: $1,216.14 Date: 3/31/2014
Perf: $1,206.96 Date: 2/28/2014
Perf: $1,225.09 Date: 1/31/2014
Perf: $1,215.13 Date: 12/31/2013
Perf: $1,247.69 Date: 11/30/2013
Perf: $1,249.44 Date: 10/31/2013
Perf: $1,227.23 Date: 9/30/2013
Perf: $1,199.76 Date: 8/31/2013
Perf: $1,207.00 Date: 7/31/2013
Perf: $1,230.63 Date: 6/30/2013
Perf: $1,241.43 Date: 5/31/2013
Perf: $1,290.33 Date: 4/30/2013
Perf: $1,348.31 Date: 3/31/2013
Perf: $1,314.40 Date: 2/28/2013
Perf: $1,295.74 Date: 1/31/2013
Perf: $1,303.30 Date: 12/31/2012
Perf: $1,279.00 Date: 11/30/2012
Perf: $1,272.76 Date: 10/31/2012
Perf: $1,269.21 Date: 9/30/2012
Perf: $1,316.88 Date: 8/31/2012
Perf: $1,338.97 Date: 7/31/2012
Perf: $1,357.43 Date: 6/30/2012
Perf: $1,304.09 Date: 5/31/2012
Perf: $1,355.04 Date: 4/30/2012
Perf: $1,329.78 Date: 3/31/2012
Perf: $1,321.85 Date: 2/29/2012
Perf: $1,352.55 Date: 1/31/2012
Perf: $1,347.03 Date: 12/31/2011
Perf: $1,342.73 Date: 11/30/2011
Perf: $1,329.96 Date: 10/31/2011
Perf: $1,325.98 Date: 9/30/2011
Perf: $1,380.66 Date: 8/31/2011
Perf: $1,381.49 Date: 7/31/2011
Perf: $1,384.26 Date: 6/30/2011
Perf: $1,336.28 Date: 5/31/2011
Perf: $1,371.95 Date: 4/30/2011
Perf: $1,423.93 Date: 3/31/2011
Perf: $1,370.48 Date: 2/28/2011
Perf: $1,391.77 Date: 1/31/2011
Perf: $1,368.51 Date: 12/31/2010
Perf: $1,387.52 Date: 11/30/2010
Perf: $1,330.44 Date: 10/31/2010
Perf: $1,379.27 Date: 9/30/2010
Perf: $1,327.75 Date: 8/31/2010
Perf: $1,304.02 Date: 7/31/2010
Perf: $1,252.18 Date: 6/30/2010
Perf: $1,268.54 Date: 5/31/2010
Perf: $1,263.74 Date: 4/30/2010
Perf: $1,295.08 Date: 3/31/2010
Perf: $1,275.44 Date: 2/28/2010
Perf: $1,226.74 Date: 1/31/2010
Perf: $1,215.31 Date: 12/31/2009
Perf: $1,246.35 Date: 11/30/2009
Perf: $1,298.28 Date: 10/31/2009
Perf: $1,247.98 Date: 9/30/2009
Perf: $1,280.77 Date: 8/31/2009
Perf: $1,251.00 Date: 7/31/2009
Perf: $1,246.88 Date: 6/30/2009
Perf: $1,248.26 Date: 5/31/2009
Perf: $1,282.37 Date: 4/30/2009
Perf: $1,264.91 Date: 3/31/2009
Perf: $1,307.67 Date: 2/28/2009
Perf: $1,344.93 Date: 1/31/2009
Perf: $1,345.60 Date: 12/31/2008
Perf: $1,354.40 Date: 11/30/2008
Perf: $1,320.47 Date: 10/31/2008
Perf: $1,273.72 Date: 9/30/2008
Perf: $1,211.34 Date: 8/31/2008
Perf: $1,208.80 Date: 7/31/2008
Perf: $1,241.96 Date: 6/30/2008
Perf: $1,301.71 Date: 5/31/2008
Perf: $1,267.86 Date: 4/30/2008
Perf: $1,242.27 Date: 3/31/2008
Perf: $1,256.72 Date: 2/29/2008
Perf: $1,262.27 Date: 1/31/2008
Perf: $1,194.32 Date: 12/31/2007
Perf: $1,172.97 Date: 11/30/2007
Perf: $1,175.67 Date: 10/31/2007
Perf: $1,183.36 Date: 9/30/2007
Perf: $1,134.47 Date: 8/31/2007
Perf: $1,083.85 Date: 7/31/2007
Perf: $1,125.85 Date: 6/30/2007
Perf: $1,161.74 Date: 5/31/2007
Perf: $1,129.11 Date: 4/30/2007
Perf: $1,090.19 Date: 3/31/2007
Perf: $1,046.25 Date: 2/28/2007
Perf: $1,071.32 Date: 1/31/2007
Perf: $1,113.06 Date: 12/31/2006
Perf: $1,094.35 Date: 11/30/2006
Perf: $1,058.57 Date: 10/31/2006
Perf: $1,033.25 Date: 9/30/2006
Perf: $1,022.01 Date: 8/31/2006
Perf: $1,032.96 Date: 7/31/2006
Perf: $1,021.52 Date: 6/30/2006
Perf: $1,036.86 Date: 5/31/2006
Perf: $1,051.27 Date: 4/30/2006
Perf: $1,079.88 Date: 3/31/2006
Perf: $1,054.16 Date: 2/28/2006
Perf: $1,026.65 Date: 1/31/2006
Perf: $1,045.25 Date: 12/31/2005
Perf: $1,025.66 Date: 11/30/2005
Perf: $1,044.57 Date: 10/31/2005
Perf: $1,001.60 Date: 9/30/2005
Perf: $1,000.00 Date: 11/30/2017
Perf: $2,788.85 Date: 10/31/2017
Perf: $2,705.78 Date: 9/30/2017
Perf: $2,644.17 Date: 8/31/2017
Perf: $2,590.80 Date: 7/31/2017
Perf: $2,582.80 Date: 6/30/2017
Perf: $2,530.66 Date: 5/31/2017
Perf: $2,515.07 Date: 4/30/2017
Perf: $2,480.10 Date: 3/31/2017
Perf: $2,454.82 Date: 2/28/2017
Perf: $2,451.87 Date: 1/31/2017
Perf: $2,358.25 Date: 12/31/2016
Perf: $2,314.28 Date: 11/30/2016
Perf: $2,269.35 Date: 10/31/2016
Perf: $2,188.38 Date: 9/30/2016
Perf: $2,228.94 Date: 8/31/2016
Perf: $2,228.50 Date: 7/31/2016
Perf: $2,225.38 Date: 6/30/2016
Perf: $2,146.19 Date: 5/31/2016
Perf: $2,140.62 Date: 4/30/2016
Perf: $2,102.77 Date: 3/31/2016
Perf: $2,094.60 Date: 2/29/2016
Perf: $1,961.61 Date: 1/31/2016
Perf: $1,964.16 Date: 12/31/2015
Perf: $2,066.67 Date: 11/30/2015
Perf: $2,099.84 Date: 10/31/2015
Perf: $2,093.56 Date: 9/30/2015
Perf: $1,930.62 Date: 8/31/2015
Perf: $1,979.51 Date: 7/31/2015
Perf: $2,106.54 Date: 6/30/2015
Perf: $2,063.21 Date: 5/31/2015
Perf: $2,104.03 Date: 4/30/2015
Perf: $2,077.23 Date: 3/31/2015
Perf: $2,057.48 Date: 2/28/2015
Perf: $2,090.51 Date: 1/31/2015
Perf: $1,976.84 Date: 12/31/2014
Perf: $2,037.98 Date: 11/30/2014
Perf: $2,043.09 Date: 10/31/2014
Perf: $1,989.57 Date: 9/30/2014
Perf: $1,942.18 Date: 8/31/2014
Perf: $1,969.76 Date: 7/31/2014
Perf: $1,894.00 Date: 6/30/2014
Perf: $1,920.50 Date: 5/31/2014
Perf: $1,881.55 Date: 4/30/2014
Perf: $1,838.35 Date: 3/31/2014
Perf: $1,824.85 Date: 2/28/2014
Perf: $1,809.65 Date: 1/31/2014
Perf: $1,730.56 Date: 12/31/2013
Perf: $1,792.58 Date: 11/30/2013
Perf: $1,748.35 Date: 10/31/2013
Perf: $1,696.60 Date: 9/30/2013
Perf: $1,621.99 Date: 8/31/2013
Perf: $1,572.61 Date: 7/31/2013
Perf: $1,619.58 Date: 6/30/2013
Perf: $1,541.14 Date: 5/31/2013
Perf: $1,562.07 Date: 4/30/2013
Perf: $1,526.35 Date: 3/31/2013
Perf: $1,497.45 Date: 2/28/2013
Perf: $1,443.33 Date: 1/31/2013
Perf: $1,423.96 Date: 12/31/2012
Perf: $1,353.83 Date: 11/30/2012
Perf: $1,341.62 Date: 10/31/2012
Perf: $1,333.89 Date: 9/30/2012
Perf: $1,359.03 Date: 8/31/2012
Perf: $1,324.85 Date: 7/31/2012
Perf: $1,295.69 Date: 6/30/2012
Perf: $1,277.93 Date: 5/31/2012
Perf: $1,227.36 Date: 4/30/2012
Perf: $1,305.84 Date: 3/31/2012
Perf: $1,314.12 Date: 2/29/2012
Perf: $1,272.27 Date: 1/31/2012
Perf: $1,219.58 Date: 12/31/2011
Perf: $1,167.29 Date: 11/30/2011
Perf: $1,155.50 Date: 10/31/2011
Perf: $1,158.05 Date: 9/30/2011
Perf: $1,043.94 Date: 8/31/2011
Perf: $1,122.88 Date: 7/31/2011
Perf: $1,187.36 Date: 6/30/2011
Perf: $1,211.96 Date: 5/31/2011
Perf: $1,232.54 Date: 4/30/2011
Perf: $1,246.63 Date: 3/31/2011
Perf: $1,210.79 Date: 2/28/2011
Perf: $1,210.31 Date: 1/31/2011
Perf: $1,170.17 Date: 12/31/2010
Perf: $1,143.08 Date: 11/30/2010
Perf: $1,071.50 Date: 10/31/2010
Perf: $1,071.39 Date: 9/30/2010
Perf: $1,032.07 Date: 8/31/2010
Perf: $947.55 Date: 7/31/2010
Perf: $992.30 Date: 6/30/2010
Perf: $927.30 Date: 5/31/2010
Perf: $978.47 Date: 4/30/2010
Perf: $1,063.44 Date: 3/31/2010
Perf: $1,046.90 Date: 2/28/2010
Perf: $987.36 Date: 1/31/2010
Perf: $957.68 Date: 12/31/2009
Perf: $993.44 Date: 11/30/2009
Perf: $974.63 Date: 10/31/2009
Perf: $919.46 Date: 9/30/2009
Perf: $936.89 Date: 8/31/2009
Perf: $903.20 Date: 7/31/2009
Perf: $871.73 Date: 6/30/2009
Perf: $810.46 Date: 5/31/2009
Perf: $808.84 Date: 4/30/2009
Perf: $766.02 Date: 3/31/2009
Perf: $699.12 Date: 2/28/2009
Perf: $642.81 Date: 1/31/2009
Perf: $719.42 Date: 12/31/2008
Perf: $785.65 Date: 11/30/2008
Perf: $777.41 Date: 10/31/2008
Perf: $837.55 Date: 9/30/2008
Perf: $1,006.55 Date: 8/31/2008
Perf: $1,105.01 Date: 7/31/2008
Perf: $1,089.21 Date: 6/30/2008
Perf: $1,098.44 Date: 5/31/2008
Perf: $1,199.56 Date: 4/30/2008
Perf: $1,184.17 Date: 3/31/2008
Perf: $1,129.18 Date: 2/29/2008
Perf: $1,134.05 Date: 1/31/2008
Perf: $1,172.15 Date: 12/31/2007
Perf: $1,246.97 Date: 11/30/2007
Perf: $1,255.63 Date: 10/31/2007
Perf: $1,310.41 Date: 9/30/2007
Perf: $1,289.90 Date: 8/31/2007
Perf: $1,243.39 Date: 7/31/2007
Perf: $1,225.02 Date: 6/30/2007
Perf: $1,264.21 Date: 5/31/2007
Perf: $1,285.55 Date: 4/30/2007
Perf: $1,242.20 Date: 3/31/2007
Perf: $1,189.50 Date: 2/28/2007
Perf: $1,176.33 Date: 1/31/2007
Perf: $1,199.84 Date: 12/31/2006
Perf: $1,181.99 Date: 11/30/2006
Perf: $1,165.68 Date: 10/31/2006
Perf: $1,143.94 Date: 9/30/2006
Perf: $1,107.83 Date: 8/31/2006
Perf: $1,079.96 Date: 7/31/2006
Perf: $1,054.86 Date: 6/30/2006
Perf: $1,048.36 Date: 5/31/2006
Perf: $1,046.89 Date: 4/30/2006
Perf: $1,077.94 Date: 3/31/2006
Perf: $1,063.68 Date: 2/28/2006
Perf: $1,050.65 Date: 1/31/2006
Perf: $1,047.83 Date: 12/31/2005
Perf: $1,020.77 Date: 11/30/2005
Perf: $1,020.47 Date: 10/31/2005
Perf: $983.30 Date: 9/30/2005
Perf: $1,000.00 Date: 11/30/2017
Perf: $1,626.41 Date: 10/31/2017
Perf: $1,641.68 Date: 9/30/2017
Perf: $1,657.26 Date: 8/31/2017
Perf: $1,702.02 Date: 7/31/2017
Perf: $1,861.96 Date: 6/30/2017
Perf: $1,840.07 Date: 5/31/2017
Perf: $1,799.58 Date: 4/30/2017
Perf: $1,704.31 Date: 3/31/2017
Perf: $1,719.26 Date: 2/28/2017
Perf: $1,628.86 Date: 1/31/2017
Perf: $1,624.64 Date: 12/31/2016
Perf: $1,717.56 Date: 11/30/2016
Perf: $1,653.25 Date: 10/31/2016
Perf: $1,569.14 Date: 9/30/2016
Perf: $1,554.84 Date: 8/31/2016
Perf: $1,790.46 Date: 7/31/2016
Perf: $1,851.75 Date: 6/30/2016
Perf: $1,819.37 Date: 5/31/2016
Perf: $1,845.20 Date: 4/30/2016
Perf: $1,864.22 Date: 3/31/2016
Perf: $1,842.29 Date: 2/29/2016
Perf: $1,843.77 Date: 1/31/2016
Perf: $1,798.10 Date: 12/31/2015
Perf: $1,658.15 Date: 11/30/2015
Perf: $1,883.19 Date: 10/31/2015
Perf: $1,795.05 Date: 9/30/2015
Perf: $1,729.34 Date: 8/31/2015
Perf: $1,846.40 Date: 7/31/2015
Perf: $1,664.32 Date: 6/30/2015
Perf: $1,664.32 Date: 5/31/2015
Perf: $1,824.12 Date: 4/30/2015
Perf: $1,894.01 Date: 3/31/2015
Perf: $1,933.45 Date: 2/28/2015
Perf: $1,993.66 Date: 1/31/2015
Perf: $2,088.25 Date: 12/31/2014
Perf: $2,038.71 Date: 11/30/2014
Perf: $2,068.92 Date: 10/31/2014
Perf: $2,032.34 Date: 9/30/2014
Perf: $1,934.82 Date: 8/31/2014
Perf: $1,775.72 Date: 7/31/2014
Perf: $1,748.96 Date: 6/30/2014
Perf: $1,721.42 Date: 5/31/2014
Perf: $1,686.01 Date: 4/30/2014
Perf: $1,722.70 Date: 3/31/2014
Perf: $1,800.67 Date: 2/28/2014
Perf: $1,829.95 Date: 1/31/2014
Perf: $1,757.03 Date: 12/31/2013
Perf: $1,671.30 Date: 11/30/2013
Perf: $1,565.91 Date: 10/31/2013
Perf: $1,598.03 Date: 9/30/2013
Perf: $1,612.87 Date: 8/31/2013
Perf: $1,620.81 Date: 7/31/2013
Perf: $1,636.52 Date: 6/30/2013
Perf: $1,704.36 Date: 5/31/2013
Perf: $1,638.96 Date: 4/30/2013
Perf: $1,602.90 Date: 3/31/2013
Perf: $1,577.03 Date: 2/28/2013
Perf: $1,625.64 Date: 1/31/2013
Perf: $1,644.55 Date: 12/31/2012
Perf: $1,616.11 Date: 11/30/2012
Perf: $1,601.38 Date: 10/31/2012
Perf: $1,603.62 Date: 9/30/2012
Perf: $1,633.68 Date: 8/31/2012
Perf: $1,626.52 Date: 7/31/2012
Perf: $1,634.70 Date: 6/30/2012
Perf: $1,625.59 Date: 5/31/2012
Perf: $1,711.33 Date: 4/30/2012
Perf: $1,501.17 Date: 3/31/2012
Perf: $1,495.04 Date: 2/29/2012
Perf: $1,454.04 Date: 1/31/2012
Perf: $1,449.98 Date: 12/31/2011
Perf: $1,417.79 Date: 11/30/2011
Perf: $1,448.50 Date: 10/31/2011
Perf: $1,448.50 Date: 9/30/2011
Perf: $1,465.50 Date: 8/31/2011
Perf: $1,426.42 Date: 7/31/2011
Perf: $1,351.28 Date: 6/30/2011
Perf: $1,341.22 Date: 5/31/2011
Perf: $1,315.57 Date: 4/30/2011
Perf: $1,529.73 Date: 3/31/2011
Perf: $1,436.50 Date: 2/28/2011
Perf: $1,394.39 Date: 1/31/2011
Perf: $1,374.87 Date: 12/31/2010
Perf: $1,440.86 Date: 11/30/2010
Perf: $1,425.47 Date: 10/31/2010
Perf: $1,511.95 Date: 9/30/2010
Perf: $1,467.20 Date: 8/31/2010
Perf: $1,479.93 Date: 7/31/2010
Perf: $1,366.76 Date: 6/30/2010
Perf: $1,393.52 Date: 5/31/2010
Perf: $1,446.16 Date: 4/30/2010
Perf: $1,390.54 Date: 3/31/2010
Perf: $1,423.27 Date: 2/28/2010
Perf: $1,428.56 Date: 1/31/2010
Perf: $1,508.83 Date: 12/31/2009
Perf: $1,480.55 Date: 11/30/2009
Perf: $1,480.70 Date: 10/31/2009
Perf: $1,522.10 Date: 9/30/2009
Perf: $1,615.30 Date: 8/31/2009
Perf: $1,634.75 Date: 7/31/2009
Perf: $1,666.75 Date: 6/30/2009
Perf: $1,658.63 Date: 5/31/2009
Perf: $1,685.25 Date: 4/30/2009
Perf: $1,553.52 Date: 3/31/2009
Perf: $1,514.30 Date: 2/28/2009
Perf: $1,568.08 Date: 1/31/2009
Perf: $1,530.73 Date: 12/31/2008
Perf: $1,590.70 Date: 11/30/2008
Perf: $1,637.70 Date: 10/31/2008
Perf: $1,677.46 Date: 9/30/2008
Perf: $1,536.56 Date: 8/31/2008
Perf: $1,568.07 Date: 7/31/2008
Perf: $1,563.07 Date: 6/30/2008
Perf: $1,560.11 Date: 5/31/2008
Perf: $1,452.21 Date: 4/30/2008
Perf: $1,528.48 Date: 3/31/2008
Perf: $1,499.24 Date: 2/29/2008
Perf: $1,554.43 Date: 1/31/2008
Perf: $1,674.85 Date: 12/31/2007
Perf: $1,407.32 Date: 11/30/2007
Perf: $1,527.53 Date: 10/31/2007
Perf: $1,362.41 Date: 9/30/2007
Perf: $1,425.12 Date: 8/31/2007
Perf: $1,365.31 Date: 7/31/2007
Perf: $1,440.05 Date: 6/30/2007
Perf: $1,443.08 Date: 5/31/2007
Perf: $1,436.48 Date: 4/30/2007
Perf: $1,349.31 Date: 3/31/2007
Perf: $1,288.49 Date: 2/28/2007
Perf: $1,302.56 Date: 1/31/2007
Perf: $1,250.90 Date: 12/31/2006
Perf: $1,230.72 Date: 11/30/2006
Perf: $1,212.53 Date: 10/31/2006
Perf: $1,218.38 Date: 9/30/2006
Perf: $1,179.00 Date: 8/31/2006
Perf: $1,192.83 Date: 7/31/2006
Perf: $1,139.72 Date: 6/30/2006
Perf: $1,185.61 Date: 5/31/2006
Perf: $1,200.61 Date: 4/30/2006
Perf: $1,175.46 Date: 3/31/2006
Perf: $1,085.07 Date: 2/28/2006
Perf: $1,067.98 Date: 1/31/2006
Perf: $1,065.00 Date: 12/31/2005
Perf: $1,023.65 Date: 11/30/2005
Perf: $1,021.81 Date: 10/31/2005
Perf: $979.40 Date: 9/30/2005
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 09/05 - 11/17
Date: 11/30/2017
Return: -0.93 % Date: 10/31/2017
Return: -0.94 % Date: 9/30/2017
Return: -2.63 % Date: 8/31/2017
Return: -8.59 % Date: 7/31/2017
Return: 1.19 % Date: 6/30/2017
Return: 2.25 % Date: 5/31/2017
Return: 5.59 % Date: 4/30/2017
Return: -0.87 % Date: 3/31/2017
Return: 5.55 % Date: 2/28/2017
Return: 0.26 % Date: 1/31/2017
Return: -5.41 % Date: 12/31/2016
Return: 3.89 % Date: 11/30/2016
Return: 5.36 % Date: 10/31/2016
Return: 0.92 % Date: 9/30/2016
Return: -13.16 % Date: 8/31/2016
Return: -3.31 % Date: 7/31/2016
Return: 1.78 % Date: 6/30/2016
Return: -1.40 % Date: 5/31/2016
Return: -1.02 % Date: 4/30/2016
Return: 1.19 % Date: 3/31/2016
Return: -0.08 % Date: 2/29/2016
Return: 2.54 % Date: 1/31/2016
Return: 8.44 % Date: 12/31/2015
Return: -11.95 % Date: 11/30/2015
Return: 4.91 % Date: 10/31/2015
Return: 3.80 % Date: 9/30/2015
Return: -6.34 % Date: 8/31/2015
Return: 10.94 % Date: 7/31/2015
Return: 0.00 % Date: 6/30/2015
Return: -8.76 % Date: 5/31/2015
Return: -3.69 % Date: 4/30/2015
Return: -2.04 % Date: 3/31/2015
Return: -3.02 % Date: 2/28/2015
Return: -4.53 % Date: 1/31/2015
Return: 2.43 % Date: 12/31/2014
Return: -1.46 % Date: 11/30/2014
Return: 1.80 % Date: 10/31/2014
Return: 5.04 % Date: 9/30/2014
Return: 8.96 % Date: 8/31/2014
Return: 1.53 % Date: 7/31/2014
Return: 1.60 % Date: 6/30/2014
Return: 2.10 % Date: 5/31/2014
Return: -2.13 % Date: 4/30/2014
Return: -4.33 % Date: 3/31/2014
Return: -1.60 % Date: 2/28/2014
Return: 4.15 % Date: 1/31/2014
Return: 5.13 % Date: 12/31/2013
Return: 6.73 % Date: 11/30/2013
Return: -2.01 % Date: 10/31/2013
Return: -0.92 % Date: 9/30/2013
Return: -0.49 % Date: 8/31/2013
Return: -0.96 % Date: 7/31/2013
Return: -3.98 % Date: 6/30/2013
Return: 3.99 % Date: 5/31/2013
Return: 2.25 % Date: 4/30/2013
Return: 1.64 % Date: 3/31/2013
Return: -2.99 % Date: 2/28/2013
Return: -1.15 % Date: 1/31/2013
Return: 1.76 % Date: 12/31/2012
Return: 0.92 % Date: 11/30/2012
Return: -0.14 % Date: 10/31/2012
Return: -1.84 % Date: 9/30/2012
Return: 0.44 % Date: 8/31/2012
Return: -0.50 % Date: 7/31/2012
Return: 0.56 % Date: 6/30/2012
Return: -5.01 % Date: 5/31/2012
Return: 14.00 % Date: 4/30/2012
Return: 0.41 % Date: 3/31/2012
Return: 2.82 % Date: 2/29/2012
Return: 0.28 % Date: 1/31/2012
Return: 2.27 % Date: 12/31/2011
Return: -2.12 % Date: 11/30/2011
Return: 0.00 % Date: 10/31/2011
Return: -1.16 % Date: 9/30/2011
Return: 2.74 % Date: 8/31/2011
Return: 5.56 % Date: 7/31/2011
Return: 0.75 % Date: 6/30/2011
Return: 1.95 % Date: 5/31/2011
Return: -14.00 % Date: 4/30/2011
Return: 6.49 % Date: 3/31/2011
Return: 3.02 % Date: 2/28/2011
Return: 1.42 % Date: 1/31/2011
Return: -4.58 % Date: 12/31/2010
Return: 1.08 % Date: 11/30/2010
Return: -5.72 % Date: 10/31/2010
Return: 3.05 % Date: 9/30/2010
Return: -0.86 % Date: 8/31/2010
Return: 8.28 % Date: 7/31/2010
Return: -1.92 % Date: 6/30/2010
Return: -3.64 % Date: 5/31/2010
Return: 4.00 % Date: 4/30/2010
Return: -2.30 % Date: 3/31/2010
Return: -0.37 % Date: 2/28/2010
Return: -5.32 % Date: 1/31/2010
Return: 1.91 % Date: 12/31/2009
Return: -0.01 % Date: 11/30/2009
Return: -2.72 % Date: 10/31/2009
Return: -5.77 % Date: 9/30/2009
Return: -1.19 % Date: 8/31/2009
Return: -1.92 % Date: 7/31/2009
Return: 0.49 % Date: 6/30/2009
Return: -1.58 % Date: 5/31/2009
Return: 8.48 % Date: 4/30/2009
Return: 2.59 % Date: 3/31/2009
Return: -3.43 % Date: 2/28/2009
Return: 2.44 % Date: 1/31/2009
Return: -3.77 % Date: 12/31/2008
Return: -2.87 % Date: 11/30/2008
Return: -2.37 % Date: 10/31/2008
Return: 9.17 % Date: 9/30/2008
Return: -2.01 % Date: 8/31/2008
Return: 0.32 % Date: 7/31/2008
Return: 0.19 % Date: 6/30/2008
Return: 7.43 % Date: 5/31/2008
Return: -4.99 % Date: 4/30/2008
Return: 1.95 % Date: 3/31/2008
Return: -3.55 % Date: 2/29/2008
Return: -7.19 % Date: 1/31/2008
Return: 19.01 % Date: 12/31/2007
Return: -7.87 % Date: 11/30/2007
Return: 12.12 % Date: 10/31/2007
Return: -4.40 % Date: 9/30/2007
Return: 4.38 % Date: 8/31/2007
Return: -5.19 % Date: 7/31/2007
Return: -0.21 % Date: 6/30/2007
Return: 0.46 % Date: 5/31/2007
Return: 6.46 % Date: 4/30/2007
Return: 4.72 % Date: 3/31/2007
Return: -1.08 % Date: 2/28/2007
Return: 4.13 % Date: 1/31/2007
Return: 1.64 % Date: 12/31/2006
Return: 1.50 % Date: 11/30/2006
Return: -0.48 % Date: 10/31/2006
Return: 3.34 % Date: 9/30/2006
Return: -1.16 % Date: 8/31/2006
Return: 4.66 % Date: 7/31/2006
Return: -3.87 % Date: 6/30/2006
Return: -1.25 % Date: 5/31/2006
Return: 2.14 % Date: 4/30/2006
Return: 8.33 % Date: 3/31/2006
Return: 1.60 % Date: 2/28/2006
Return: 0.28 % Date: 1/31/2006
Return: 4.04 % Date: 12/31/2005
Return: 0.18 % Date: 11/30/2005
Return: 4.33 % Date: 10/31/2005
Return: -2.06 % Date: 9/30/2005
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 09/05 - 11/17
Return: -13.00 %
Count: 1 Return: -12.00 %
Count: 1 Return: 11.00 %
Count: 1 Return: -9.00 %
Count: 2 Return: 14.00 %
Count: 1 Return: -14.00 %
Count: 1 Return: 1.00 %
Count: 8 Return: -6.00 %
Count: 3 Return: -3.00 %
Count: 7 Return: 9.00 %
Count: 2 Return: 7.00 %
Count: 2 Return: -7.00 %
Count: 1 Return: 19.00 %
Count: 1 Return: -8.00 %
Count: 1 Return: 12.00 %
Count: 1 Return: -5.00 %
Count: 7 Return: 6.00 %
Count: 5 Return: 3.00 %
Count: 7 Return: 5.00 %
Count: 6 Return: -4.00 %
Count: 8 Return: -1.00 %
Count: 16 Return: 8.00 %
Count: 4 Return: 2.00 %
Count: 19 Return: 4.00 %
Count: 9 Return: -2.00 %
Count: 13 Return: 0.00 %
Count: 20
Note: All performance data is since program inception.

Underwater Curve
Date Range: 09/05 - 11/17
Date: 11/30/2017
Drawdown: -22.12 % Date: 10/31/2017
Drawdown: -21.39 % Date: 9/30/2017
Drawdown: -20.64 % Date: 8/31/2017
Drawdown: -18.50 % Date: 7/31/2017
Drawdown: -10.84 % Date: 6/30/2017
Drawdown: -11.88 % Date: 5/31/2017
Drawdown: -13.82 % Date: 4/30/2017
Drawdown: -18.39 % Date: 3/31/2017
Drawdown: -17.67 % Date: 2/28/2017
Drawdown: -22.00 % Date: 1/31/2017
Drawdown: -22.20 % Date: 12/31/2016
Drawdown: -17.75 % Date: 11/30/2016
Drawdown: -20.83 % Date: 10/31/2016
Drawdown: -24.86 % Date: 9/30/2016
Drawdown: -25.54 % Date: 8/31/2016
Drawdown: -14.26 % Date: 7/31/2016
Drawdown: -11.33 % Date: 6/30/2016
Drawdown: -12.88 % Date: 5/31/2016
Drawdown: -11.64 % Date: 4/30/2016
Drawdown: -10.73 % Date: 3/31/2016
Drawdown: -11.78 % Date: 2/29/2016
Drawdown: -11.71 % Date: 1/31/2016
Drawdown: -13.89 % Date: 12/31/2015
Drawdown: -20.60 % Date: 11/30/2015
Drawdown: -9.82 % Date: 10/31/2015
Drawdown: -14.04 % Date: 9/30/2015
Drawdown: -17.19 % Date: 8/31/2015
Drawdown: -11.58 % Date: 7/31/2015
Drawdown: -20.30 % Date: 6/30/2015
Drawdown: -20.30 % Date: 5/31/2015
Drawdown: -12.65 % Date: 4/30/2015
Drawdown: -9.30 % Date: 3/31/2015
Drawdown: -7.41 % Date: 2/28/2015
Drawdown: -4.53 % Date: 1/31/2015
Drawdown: 0.00 % Date: 12/31/2014
Drawdown: -1.46 % Date: 11/30/2014
Drawdown: 0.00 % Date: 10/31/2014
Drawdown: 0.00 % Date: 9/30/2014
Drawdown: 0.00 % Date: 8/31/2014
Drawdown: -2.96 % Date: 7/31/2014
Drawdown: -4.43 % Date: 6/30/2014
Drawdown: -5.93 % Date: 5/31/2014
Drawdown: -7.87 % Date: 4/30/2014
Drawdown: -5.86 % Date: 3/31/2014
Drawdown: -1.60 % Date: 2/28/2014
Drawdown: 0.00 % Date: 1/31/2014
Drawdown: 0.00 % Date: 12/31/2013
Drawdown: -2.34 % Date: 11/30/2013
Drawdown: -8.50 % Date: 10/31/2013
Drawdown: -6.62 % Date: 9/30/2013
Drawdown: -5.75 % Date: 8/31/2013
Drawdown: -5.29 % Date: 7/31/2013
Drawdown: -4.37 % Date: 6/30/2013
Drawdown: -0.41 % Date: 5/31/2013
Drawdown: -4.23 % Date: 4/30/2013
Drawdown: -6.34 % Date: 3/31/2013
Drawdown: -7.85 % Date: 2/28/2013
Drawdown: -5.01 % Date: 1/31/2013
Drawdown: -3.90 % Date: 12/31/2012
Drawdown: -5.56 % Date: 11/30/2012
Drawdown: -6.43 % Date: 10/31/2012
Drawdown: -6.29 % Date: 9/30/2012
Drawdown: -4.54 % Date: 8/31/2012
Drawdown: -4.96 % Date: 7/31/2012
Drawdown: -4.48 % Date: 6/30/2012
Drawdown: -5.01 % Date: 5/31/2012
Drawdown: 0.00 % Date: 4/30/2012
Drawdown: -10.92 % Date: 3/31/2012
Drawdown: -11.29 % Date: 2/29/2012
Drawdown: -13.72 % Date: 1/31/2012
Drawdown: -13.96 % Date: 12/31/2011
Drawdown: -15.87 % Date: 11/30/2011
Drawdown: -14.05 % Date: 10/31/2011
Drawdown: -14.05 % Date: 9/30/2011
Drawdown: -13.04 % Date: 8/31/2011
Drawdown: -15.36 % Date: 7/31/2011
Drawdown: -19.82 % Date: 6/30/2011
Drawdown: -20.41 % Date: 5/31/2011
Drawdown: -21.94 % Date: 4/30/2011
Drawdown: -9.23 % Date: 3/31/2011
Drawdown: -14.76 % Date: 2/28/2011
Drawdown: -17.26 % Date: 1/31/2011
Drawdown: -18.42 % Date: 12/31/2010
Drawdown: -14.50 % Date: 11/30/2010
Drawdown: -15.42 % Date: 10/31/2010
Drawdown: -10.28 % Date: 9/30/2010
Drawdown: -12.94 % Date: 8/31/2010
Drawdown: -12.18 % Date: 7/31/2010
Drawdown: -18.90 % Date: 6/30/2010
Drawdown: -17.31 % Date: 5/31/2010
Drawdown: -14.19 % Date: 4/30/2010
Drawdown: -17.49 % Date: 3/31/2010
Drawdown: -15.55 % Date: 2/28/2010
Drawdown: -15.23 % Date: 1/31/2010
Drawdown: -10.47 % Date: 12/31/2009
Drawdown: -12.15 % Date: 11/30/2009
Drawdown: -12.14 % Date: 10/31/2009
Drawdown: -9.68 % Date: 9/30/2009
Drawdown: -4.15 % Date: 8/31/2009
Drawdown: -3.00 % Date: 7/31/2009
Drawdown: -1.10 % Date: 6/30/2009
Drawdown: -1.58 % Date: 5/31/2009
Drawdown: 0.00 % Date: 4/30/2009
Drawdown: -7.39 % Date: 3/31/2009
Drawdown: -9.73 % Date: 2/28/2009
Drawdown: -6.52 % Date: 1/31/2009
Drawdown: -8.75 % Date: 12/31/2008
Drawdown: -5.17 % Date: 11/30/2008
Drawdown: -2.37 % Date: 10/31/2008
Drawdown: 0.00 % Date: 9/30/2008
Drawdown: -8.26 % Date: 8/31/2008
Drawdown: -6.38 % Date: 7/31/2008
Drawdown: -6.67 % Date: 6/30/2008
Drawdown: -6.85 % Date: 5/31/2008
Drawdown: -13.29 % Date: 4/30/2008
Drawdown: -8.74 % Date: 3/31/2008
Drawdown: -10.48 % Date: 2/29/2008
Drawdown: -7.19 % Date: 1/31/2008
Drawdown: 0.00 % Date: 12/31/2007
Drawdown: -7.87 % Date: 11/30/2007
Drawdown: 0.00 % Date: 10/31/2007
Drawdown: -5.59 % Date: 9/30/2007
Drawdown: -1.25 % Date: 8/31/2007
Drawdown: -5.39 % Date: 7/31/2007
Drawdown: -0.21 % Date: 6/30/2007
Drawdown: 0.00 % Date: 5/31/2007
Drawdown: 0.00 % Date: 4/30/2007
Drawdown: 0.00 % Date: 3/31/2007
Drawdown: -1.08 % Date: 2/28/2007
Drawdown: 0.00 % Date: 1/31/2007
Drawdown: 0.00 % Date: 12/31/2006
Drawdown: 0.00 % Date: 11/30/2006
Drawdown: -0.48 % Date: 10/31/2006
Drawdown: 0.00 % Date: 9/30/2006
Drawdown: -1.80 % Date: 8/31/2006
Drawdown: -0.65 % Date: 7/31/2006
Drawdown: -5.07 % Date: 6/30/2006
Drawdown: -1.25 % Date: 5/31/2006
Drawdown: 0.00 % Date: 4/30/2006
Drawdown: 0.00 % Date: 3/31/2006
Drawdown: 0.00 % Date: 2/28/2006
Drawdown: 0.00 % Date: 1/31/2006
Drawdown: 0.00 % Date: 12/31/2005
Drawdown: 0.00 % Date: 11/30/2005
Drawdown: 0.00 % Date: 10/31/2005
Drawdown: -2.06 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  Claughton Capital, LLC
Address: 14 NE First Avenue, Suite 907
City: Miami
State: FL
Zip: 33131
Country: USA
Key People
Name:  Keith M. Ganzer, CFA
Position:  Principal
Biography: 

Mr. Ganzer was first registered with the National Futures Association as an Associate Member on December 29, 1988 and as an Associated Person on February 3, 1989. Mr. Ganzer became registered as a Principal and as an Associated Person with Claughton Capital, LLC on August 11, 2003 and as a branch manager on September 2, 2008. During the past five years, Mr. Ganzer has been a Trading Principal and the Chief Investment Officer of Claughton Capital, LLC. In addition, Mr. Ganzer was an Actuarial Associate at AXA Financial Inc., a financial planning, life, annuity, and property/casualty insurance company, from June 2003 to May 2005. Since November 2005 to Present, Mr. Ganzer serves as the Chief Financial Officer of Triumph Securities Corporation, a FINRA member broker/dealer where he devotes approximately 24 hours annually. Mr. Ganzer has an M.A. in Chemical Engineering from Princeton University and B.S. in Chemistry with Highest Honors from Case Western Reserve University. He is a Chartered Financial Analyst member of the CFA Institute and a PRMIA Certified Risk Manager.


Name:  Eric Schreiber
Position:  Principal
Biography: 

Mr. Schreiber was first registered with the National Futures Association as a Principal with Claughton Capital, LLC on July 28, 2003. Mr. Schreiber became registered as an Associated Person with Claughton Capital, LLC on August 11, 2003 and as an Associate Member on September 15, 2003. During the past five years, Mr. Schreiber has been a Trading Principal and the President of Claughton Capital, LLC. Mr. Schreiber received the Arthur D. Little Scholarship to attend the University of Chicago where he received an M.B.A. degree and received the Halsey S. Garlund Scholarship to attend Emory University where he received a B.S. degree in Mathematics and Computer Science.


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.