Altegris Clearing Solutions Gamma Q, LLC Commodity Program Managed Account *QEP*
Monthly Performance (%)
Date Range: 03/11 - 11/17
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2017 0.17 -0.21 1.63 -0.35 1.45 5.31 1.55 -1.22 -0.44 -0.66 2.01 9.46
2016 -0.84 1.35 0.61 -3.54 0.27 1.90 0.28 2.27 0.81 -0.98 -1.24 0.02 0.77
2015 1.24 -5.33 1.16 2.71 4.80 -3.87 1.95 0.90 0.34 -0.54 1.92 1.00 6.02
2014 3.77 -3.22 0.24 -2.91 -3.16 11.61 12.60 1.26 9.31 -7.07 -1.66 -3.85 15.69
2013 0.64 1.14 1.03 1.32 -5.50 3.35 3.69 0.10 -1.77 0.98 1.89 0.83 7.63
2012 2.14 5.60 4.59 0.04 -1.10 -0.22 -0.53 2.18 -4.48 -1.15 -0.01 -0.98 5.82
2011 0.69 -0.99 -7.45 -2.35 4.65 -1.80 0.79 0.30 -0.92 -7.26
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

Gamma-Q is a fundamental discretionary Agriculture and Livestock focused asset manager. We rely on fundamental research to formulate core views and generate optimal trades. The principals of the firm have strong physical commodity trading backgrounds, which provide critical insight into supply and demand of individual markets. The strategy consists of both directional trades as well as relative value trades, depending on which one best expresses fundamental view. In addition, we participate in physical fertilizer, grain and cattle markets. We maintain a presence across the corn belt and cattle country through farmers, grain seed dealers, feed lots and ranchers. This network provides us an edge interpreting the fundamental research into profitable trades.

Performance Statistics
Date Range: 03/11 - 11/17
  Program SP500 TR Altegris 40
Total Return 42.92% 130.43% 0.76%
Annualized Return 5.50% 13.16% 0.11%
Annualized Std. Deviation 11.43% 10.76% 8.52%
Correlation -0.04 0.02
Sharpe Ratio (rf=2.5%) 0.26 0.99 -0.28
Worst Month -7.45% -7.03% -5.20%
Date of Worst Month 06/2011 09/2011 06/2015
Worst Drawdown -15.78% -16.26% -15.74%
Date of Worst Drawdown 9/14 - 2/15 4/11 - 9/11 4/11 - 9/13
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 03/11 - 11/17
Year or YTD Program SP500 TR Altegris 40
2017 9.46 20.51 0.15
2016 0.77 11.98 -3.13
2015 6.02 1.41 0.09
2014 15.69 13.69 15.75
2013 7.63 32.41 -2.45
2012 5.82 15.98 -4.75
2011 -7.26 -3.59 -2.02
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 03/11 - 11/17
Date: 11/30/2017
Perf: $1,023.24 Date: 10/31/2017
Perf: $1,021.92 Date: 9/30/2017
Perf: $980.82 Date: 8/31/2017
Perf: $1,001.96 Date: 7/31/2017
Perf: $985.60 Date: 6/30/2017
Perf: $981.77 Date: 5/31/2017
Perf: $1,011.30 Date: 4/30/2017
Perf: $1,009.38 Date: 3/31/2017
Perf: $1,015.48 Date: 2/28/2017
Perf: $1,030.52 Date: 1/31/2017
Perf: $1,008.54 Date: 12/31/2016
Perf: $1,021.72 Date: 11/30/2016
Perf: $1,014.01 Date: 10/31/2016
Perf: $1,025.29 Date: 9/30/2016
Perf: $1,052.44 Date: 8/31/2016
Perf: $1,066.19 Date: 7/31/2016
Perf: $1,095.67 Date: 6/30/2016
Perf: $1,084.60 Date: 5/31/2016
Perf: $1,040.39 Date: 4/30/2016
Perf: $1,058.92 Date: 3/31/2016
Perf: $1,086.18 Date: 2/29/2016
Perf: $1,118.28 Date: 1/31/2016
Perf: $1,091.43 Date: 12/31/2015
Perf: $1,054.72 Date: 11/30/2015
Perf: $1,079.55 Date: 10/31/2015
Perf: $1,043.95 Date: 9/30/2015
Perf: $1,062.44 Date: 8/31/2015
Perf: $1,039.88 Date: 7/31/2015
Perf: $1,058.18 Date: 6/30/2015
Perf: $1,018.36 Date: 5/31/2015
Perf: $1,074.22 Date: 4/30/2015
Perf: $1,082.01 Date: 3/31/2015
Perf: $1,125.46 Date: 2/28/2015
Perf: $1,101.12 Date: 1/31/2015
Perf: $1,102.89 Date: 12/31/2014
Perf: $1,053.78 Date: 11/30/2014
Perf: $1,035.55 Date: 10/31/2014
Perf: $977.40 Date: 9/30/2014
Perf: $963.24 Date: 8/31/2014
Perf: $949.10 Date: 7/31/2014
Perf: $910.58 Date: 6/30/2014
Perf: $917.92 Date: 5/31/2014
Perf: $910.10 Date: 4/30/2014
Perf: $887.38 Date: 3/31/2014
Perf: $880.69 Date: 2/28/2014
Perf: $893.92 Date: 1/31/2014
Perf: $886.65 Date: 12/31/2013
Perf: $910.41 Date: 11/30/2013
Perf: $911.68 Date: 10/31/2013
Perf: $895.48 Date: 9/30/2013
Perf: $875.43 Date: 8/31/2013
Perf: $880.71 Date: 7/31/2013
Perf: $897.95 Date: 6/30/2013
Perf: $905.84 Date: 5/31/2013
Perf: $941.52 Date: 4/30/2013
Perf: $983.82 Date: 3/31/2013
Perf: $959.08 Date: 2/28/2013
Perf: $945.46 Date: 1/31/2013
Perf: $950.98 Date: 12/31/2012
Perf: $933.25 Date: 11/30/2012
Perf: $928.70 Date: 10/31/2012
Perf: $926.10 Date: 9/30/2012
Perf: $960.89 Date: 8/31/2012
Perf: $977.01 Date: 7/31/2012
Perf: $990.48 Date: 6/30/2012
Perf: $951.56 Date: 5/31/2012
Perf: $988.74 Date: 4/30/2012
Perf: $970.30 Date: 3/31/2012
Perf: $964.51 Date: 2/29/2012
Perf: $986.92 Date: 1/31/2012
Perf: $982.89 Date: 12/31/2011
Perf: $979.75 Date: 11/30/2011
Perf: $970.44 Date: 10/31/2011
Perf: $967.53 Date: 9/30/2011
Perf: $1,007.43 Date: 8/31/2011
Perf: $1,008.03 Date: 7/31/2011
Perf: $1,010.05 Date: 6/30/2011
Perf: $975.05 Date: 5/31/2011
Perf: $1,001.08 Date: 4/30/2011
Perf: $1,039.00 Date: 3/31/2011
Perf: $1,000.00 Date: 11/30/2017
Perf: $2,303.33 Date: 10/31/2017
Perf: $2,234.73 Date: 9/30/2017
Perf: $2,183.84 Date: 8/31/2017
Perf: $2,139.76 Date: 7/31/2017
Perf: $2,133.15 Date: 6/30/2017
Perf: $2,090.09 Date: 5/31/2017
Perf: $2,077.21 Date: 4/30/2017
Perf: $2,048.33 Date: 3/31/2017
Perf: $2,027.45 Date: 2/28/2017
Perf: $2,025.02 Date: 1/31/2017
Perf: $1,947.70 Date: 12/31/2016
Perf: $1,911.38 Date: 11/30/2016
Perf: $1,874.27 Date: 10/31/2016
Perf: $1,807.40 Date: 9/30/2016
Perf: $1,840.90 Date: 8/31/2016
Perf: $1,840.53 Date: 7/31/2016
Perf: $1,837.96 Date: 6/30/2016
Perf: $1,772.55 Date: 5/31/2016
Perf: $1,767.96 Date: 4/30/2016
Perf: $1,736.70 Date: 3/31/2016
Perf: $1,729.95 Date: 2/29/2016
Perf: $1,620.11 Date: 1/31/2016
Perf: $1,622.21 Date: 12/31/2015
Perf: $1,706.88 Date: 11/30/2015
Perf: $1,734.28 Date: 10/31/2015
Perf: $1,729.09 Date: 9/30/2015
Perf: $1,594.51 Date: 8/31/2015
Perf: $1,634.89 Date: 7/31/2015
Perf: $1,739.80 Date: 6/30/2015
Perf: $1,704.02 Date: 5/31/2015
Perf: $1,737.73 Date: 4/30/2015
Perf: $1,715.60 Date: 3/31/2015
Perf: $1,699.29 Date: 2/28/2015
Perf: $1,726.57 Date: 1/31/2015
Perf: $1,632.69 Date: 12/31/2014
Perf: $1,683.18 Date: 11/30/2014
Perf: $1,687.40 Date: 10/31/2014
Perf: $1,643.20 Date: 9/30/2014
Perf: $1,604.06 Date: 8/31/2014
Perf: $1,626.84 Date: 7/31/2014
Perf: $1,564.27 Date: 6/30/2014
Perf: $1,586.16 Date: 5/31/2014
Perf: $1,553.99 Date: 4/30/2014
Perf: $1,518.31 Date: 3/31/2014
Perf: $1,507.15 Date: 2/28/2014
Perf: $1,494.60 Date: 1/31/2014
Perf: $1,429.28 Date: 12/31/2013
Perf: $1,480.51 Date: 11/30/2013
Perf: $1,443.97 Date: 10/31/2013
Perf: $1,401.24 Date: 9/30/2013
Perf: $1,339.61 Date: 8/31/2013
Perf: $1,298.83 Date: 7/31/2013
Perf: $1,337.62 Date: 6/30/2013
Perf: $1,272.84 Date: 5/31/2013
Perf: $1,290.12 Date: 4/30/2013
Perf: $1,260.62 Date: 3/31/2013
Perf: $1,236.75 Date: 2/28/2013
Perf: $1,192.05 Date: 1/31/2013
Perf: $1,176.06 Date: 12/31/2012
Perf: $1,118.14 Date: 11/30/2012
Perf: $1,108.06 Date: 10/31/2012
Perf: $1,101.67 Date: 9/30/2012
Perf: $1,122.43 Date: 8/31/2012
Perf: $1,094.20 Date: 7/31/2012
Perf: $1,070.12 Date: 6/30/2012
Perf: $1,055.45 Date: 5/31/2012
Perf: $1,013.69 Date: 4/30/2012
Perf: $1,078.51 Date: 3/31/2012
Perf: $1,085.34 Date: 2/29/2012
Perf: $1,050.77 Date: 1/31/2012
Perf: $1,007.26 Date: 12/31/2011
Perf: $964.07 Date: 11/30/2011
Perf: $954.34 Date: 10/31/2011
Perf: $956.44 Date: 9/30/2011
Perf: $862.20 Date: 8/31/2011
Perf: $927.40 Date: 7/31/2011
Perf: $980.65 Date: 6/30/2011
Perf: $1,000.97 Date: 5/31/2011
Perf: $1,017.97 Date: 4/30/2011
Perf: $1,029.60 Date: 3/31/2011
Perf: $1,000.00 Date: 11/30/2017
Perf: $1,429.16 Date: 10/31/2017
Perf: $1,401.00 Date: 9/30/2017
Perf: $1,410.31 Date: 8/31/2017
Perf: $1,416.54 Date: 7/31/2017
Perf: $1,434.04 Date: 6/30/2017
Perf: $1,412.15 Date: 5/31/2017
Perf: $1,340.95 Date: 4/30/2017
Perf: $1,321.78 Date: 3/31/2017
Perf: $1,326.42 Date: 2/28/2017
Perf: $1,305.15 Date: 1/31/2017
Perf: $1,307.90 Date: 12/31/2016
Perf: $1,305.68 Date: 11/30/2016
Perf: $1,305.42 Date: 10/31/2016
Perf: $1,321.81 Date: 9/30/2016
Perf: $1,334.89 Date: 8/31/2016
Perf: $1,324.16 Date: 7/31/2016
Perf: $1,294.77 Date: 6/30/2016
Perf: $1,291.16 Date: 5/31/2016
Perf: $1,267.08 Date: 4/30/2016
Perf: $1,263.67 Date: 3/31/2016
Perf: $1,310.05 Date: 2/29/2016
Perf: $1,302.10 Date: 1/31/2016
Perf: $1,284.76 Date: 12/31/2015
Perf: $1,295.64 Date: 11/30/2015
Perf: $1,282.81 Date: 10/31/2015
Perf: $1,258.65 Date: 9/30/2015
Perf: $1,265.48 Date: 8/31/2015
Perf: $1,261.19 Date: 7/31/2015
Perf: $1,249.94 Date: 6/30/2015
Perf: $1,226.04 Date: 5/31/2015
Perf: $1,275.39 Date: 4/30/2015
Perf: $1,216.98 Date: 3/31/2015
Perf: $1,184.87 Date: 2/28/2015
Perf: $1,171.28 Date: 1/31/2015
Perf: $1,237.23 Date: 12/31/2014
Perf: $1,222.07 Date: 11/30/2014
Perf: $1,271.01 Date: 10/31/2014
Perf: $1,292.46 Date: 9/30/2014
Perf: $1,390.79 Date: 8/31/2014
Perf: $1,272.34 Date: 7/31/2014
Perf: $1,256.50 Date: 6/30/2014
Perf: $1,115.90 Date: 5/31/2014
Perf: $999.82 Date: 4/30/2014
Perf: $1,032.45 Date: 3/31/2014
Perf: $1,063.39 Date: 2/28/2014
Perf: $1,060.84 Date: 1/31/2014
Perf: $1,096.14 Date: 12/31/2013
Perf: $1,056.32 Date: 11/30/2013
Perf: $1,047.62 Date: 10/31/2013
Perf: $1,028.19 Date: 9/30/2013
Perf: $1,018.21 Date: 8/31/2013
Perf: $1,036.56 Date: 7/31/2013
Perf: $1,035.52 Date: 6/30/2013
Perf: $998.67 Date: 5/31/2013
Perf: $966.30 Date: 4/30/2013
Perf: $1,022.54 Date: 3/31/2013
Perf: $1,009.22 Date: 2/28/2013
Perf: $998.93 Date: 1/31/2013
Perf: $987.67 Date: 12/31/2012
Perf: $981.39 Date: 11/30/2012
Perf: $991.10 Date: 10/31/2012
Perf: $991.20 Date: 9/30/2012
Perf: $1,002.73 Date: 8/31/2012
Perf: $1,049.76 Date: 7/31/2012
Perf: $1,027.36 Date: 6/30/2012
Perf: $1,032.84 Date: 5/31/2012
Perf: $1,035.12 Date: 4/30/2012
Perf: $1,046.63 Date: 3/31/2012
Perf: $1,046.21 Date: 2/29/2012
Perf: $1,000.30 Date: 1/31/2012
Perf: $947.25 Date: 12/31/2011
Perf: $927.40 Date: 11/30/2011
Perf: $936.02 Date: 10/31/2011
Perf: $933.22 Date: 9/30/2011
Perf: $925.90 Date: 8/31/2011
Perf: $942.87 Date: 7/31/2011
Perf: $900.98 Date: 6/30/2011
Perf: $922.66 Date: 5/31/2011
Perf: $996.93 Date: 4/30/2011
Perf: $1,006.90 Date: 3/31/2011
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 03/11 - 11/17
Date: 11/30/2017
Return: 2.01 % Date: 10/31/2017
Return: -0.66 % Date: 9/30/2017
Return: -0.44 % Date: 8/31/2017
Return: -1.22 % Date: 7/31/2017
Return: 1.55 % Date: 6/30/2017
Return: 5.31 % Date: 5/31/2017
Return: 1.45 % Date: 4/30/2017
Return: -0.35 % Date: 3/31/2017
Return: 1.63 % Date: 2/28/2017
Return: -0.21 % Date: 1/31/2017
Return: 0.17 % Date: 12/31/2016
Return: 0.02 % Date: 11/30/2016
Return: -1.24 % Date: 10/31/2016
Return: -0.98 % Date: 9/30/2016
Return: 0.81 % Date: 8/31/2016
Return: 2.27 % Date: 7/31/2016
Return: 0.28 % Date: 6/30/2016
Return: 1.90 % Date: 5/31/2016
Return: 0.27 % Date: 4/30/2016
Return: -3.54 % Date: 3/31/2016
Return: 0.61 % Date: 2/29/2016
Return: 1.35 % Date: 1/31/2016
Return: -0.84 % Date: 12/31/2015
Return: 1.00 % Date: 11/30/2015
Return: 1.92 % Date: 10/31/2015
Return: -0.54 % Date: 9/30/2015
Return: 0.34 % Date: 8/31/2015
Return: 0.90 % Date: 7/31/2015
Return: 1.95 % Date: 6/30/2015
Return: -3.87 % Date: 5/31/2015
Return: 4.80 % Date: 4/30/2015
Return: 2.71 % Date: 3/31/2015
Return: 1.16 % Date: 2/28/2015
Return: -5.33 % Date: 1/31/2015
Return: 1.24 % Date: 12/31/2014
Return: -3.85 % Date: 11/30/2014
Return: -1.66 % Date: 10/31/2014
Return: -7.07 % Date: 9/30/2014
Return: 9.31 % Date: 8/31/2014
Return: 1.26 % Date: 7/31/2014
Return: 12.60 % Date: 6/30/2014
Return: 11.61 % Date: 5/31/2014
Return: -3.16 % Date: 4/30/2014
Return: -2.91 % Date: 3/31/2014
Return: 0.24 % Date: 2/28/2014
Return: -3.22 % Date: 1/31/2014
Return: 3.77 % Date: 12/31/2013
Return: 0.83 % Date: 11/30/2013
Return: 1.89 % Date: 10/31/2013
Return: 0.98 % Date: 9/30/2013
Return: -1.77 % Date: 8/31/2013
Return: 0.10 % Date: 7/31/2013
Return: 3.69 % Date: 6/30/2013
Return: 3.35 % Date: 5/31/2013
Return: -5.50 % Date: 4/30/2013
Return: 1.32 % Date: 3/31/2013
Return: 1.03 % Date: 2/28/2013
Return: 1.14 % Date: 1/31/2013
Return: 0.64 % Date: 12/31/2012
Return: -0.98 % Date: 11/30/2012
Return: -0.01 % Date: 10/31/2012
Return: -1.15 % Date: 9/30/2012
Return: -4.48 % Date: 8/31/2012
Return: 2.18 % Date: 7/31/2012
Return: -0.53 % Date: 6/30/2012
Return: -0.22 % Date: 5/31/2012
Return: -1.10 % Date: 4/30/2012
Return: 0.04 % Date: 3/31/2012
Return: 4.59 % Date: 2/29/2012
Return: 5.60 % Date: 1/31/2012
Return: 2.14 % Date: 12/31/2011
Return: -0.92 % Date: 11/30/2011
Return: 0.30 % Date: 10/31/2011
Return: 0.79 % Date: 9/30/2011
Return: -1.80 % Date: 8/31/2011
Return: 4.65 % Date: 7/31/2011
Return: -2.35 % Date: 6/30/2011
Return: -7.45 % Date: 5/31/2011
Return: -0.99 % Date: 4/30/2011
Return: 0.69 % Date: 3/31/2011
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 03/11 - 11/17
Return: -5.00 %
Count: 1 Return: 9.00 %
Count: 1 Return: 13.00 %
Count: 1 Return: 12.00 %
Count: 1 Return: -3.00 %
Count: 3 Return: 4.00 %
Count: 2 Return: 3.00 %
Count: 2 Return: -6.00 %
Count: 1 Return: -4.00 %
Count: 4 Return: 6.00 %
Count: 1 Return: 2.00 %
Count: 10 Return: 5.00 %
Count: 4 Return: -2.00 %
Count: 4 Return: -7.00 %
Count: 2 Return: -1.00 %
Count: 12 Return: 1.00 %
Count: 17 Return: 0.00 %
Count: 15
Note: All performance data is since program inception.

Underwater Curve
Date Range: 03/11 - 11/17
Date: 11/30/2017
Drawdown: -0.34 % Date: 10/31/2017
Drawdown: -2.30 % Date: 9/30/2017
Drawdown: -1.65 % Date: 8/31/2017
Drawdown: -1.22 % Date: 7/31/2017
Drawdown: 0.00 % Date: 6/30/2017
Drawdown: 0.00 % Date: 5/31/2017
Drawdown: -3.58 % Date: 4/30/2017
Drawdown: -4.96 % Date: 3/31/2017
Drawdown: -4.63 % Date: 2/28/2017
Drawdown: -6.16 % Date: 1/31/2017
Drawdown: -5.96 % Date: 12/31/2016
Drawdown: -6.12 % Date: 11/30/2016
Drawdown: -6.14 % Date: 10/31/2016
Drawdown: -4.96 % Date: 9/30/2016
Drawdown: -4.02 % Date: 8/31/2016
Drawdown: -4.79 % Date: 7/31/2016
Drawdown: -6.90 % Date: 6/30/2016
Drawdown: -7.16 % Date: 5/31/2016
Drawdown: -8.89 % Date: 4/30/2016
Drawdown: -9.14 % Date: 3/31/2016
Drawdown: -5.81 % Date: 2/29/2016
Drawdown: -6.38 % Date: 1/31/2016
Drawdown: -7.62 % Date: 12/31/2015
Drawdown: -6.84 % Date: 11/30/2015
Drawdown: -7.76 % Date: 10/31/2015
Drawdown: -9.50 % Date: 9/30/2015
Drawdown: -9.01 % Date: 8/31/2015
Drawdown: -9.32 % Date: 7/31/2015
Drawdown: -10.13 % Date: 6/30/2015
Drawdown: -11.85 % Date: 5/31/2015
Drawdown: -8.30 % Date: 4/30/2015
Drawdown: -12.50 % Date: 3/31/2015
Drawdown: -14.81 % Date: 2/28/2015
Drawdown: -15.78 % Date: 1/31/2015
Drawdown: -11.04 % Date: 12/31/2014
Drawdown: -12.13 % Date: 11/30/2014
Drawdown: -8.61 % Date: 10/31/2014
Drawdown: -7.07 % Date: 9/30/2014
Drawdown: 0.00 % Date: 8/31/2014
Drawdown: 0.00 % Date: 7/31/2014
Drawdown: 0.00 % Date: 6/30/2014
Drawdown: 0.00 % Date: 5/31/2014
Drawdown: -8.79 % Date: 4/30/2014
Drawdown: -5.81 % Date: 3/31/2014
Drawdown: -2.99 % Date: 2/28/2014
Drawdown: -3.22 % Date: 1/31/2014
Drawdown: 0.00 % Date: 12/31/2013
Drawdown: 0.00 % Date: 11/30/2013
Drawdown: -0.20 % Date: 10/31/2013
Drawdown: -2.05 % Date: 9/30/2013
Drawdown: -3.01 % Date: 8/31/2013
Drawdown: -1.26 % Date: 7/31/2013
Drawdown: -1.36 % Date: 6/30/2013
Drawdown: -4.87 % Date: 5/31/2013
Drawdown: -7.95 % Date: 4/30/2013
Drawdown: -2.59 % Date: 3/31/2013
Drawdown: -3.86 % Date: 2/28/2013
Drawdown: -4.84 % Date: 1/31/2013
Drawdown: -5.91 % Date: 12/31/2012
Drawdown: -6.51 % Date: 11/30/2012
Drawdown: -5.59 % Date: 10/31/2012
Drawdown: -5.58 % Date: 9/30/2012
Drawdown: -4.48 % Date: 8/31/2012
Drawdown: 0.00 % Date: 7/31/2012
Drawdown: -1.84 % Date: 6/30/2012
Drawdown: -1.32 % Date: 5/31/2012
Drawdown: -1.10 % Date: 4/30/2012
Drawdown: 0.00 % Date: 3/31/2012
Drawdown: 0.00 % Date: 2/29/2012
Drawdown: -0.66 % Date: 1/31/2012
Drawdown: -5.92 % Date: 12/31/2011
Drawdown: -7.90 % Date: 11/30/2011
Drawdown: -7.04 % Date: 10/31/2011
Drawdown: -7.32 % Date: 9/30/2011
Drawdown: -8.04 % Date: 8/31/2011
Drawdown: -6.36 % Date: 7/31/2011
Drawdown: -10.52 % Date: 6/30/2011
Drawdown: -8.37 % Date: 5/31/2011
Drawdown: -0.99 % Date: 4/30/2011
Drawdown: 0.00 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  Gamma Q, LLC
Address: 1500 Lakeshore Suite 450
City: Columbus
State: OH
Zip: 43204
Country: United States
Key People
Name:  Todd Delay
Position:  Principal
Biography: 

Prior to his manager role for the Gamma Fund, Mr. Delay has had several positions in the futures industry. He was a registered associated person with UBS Financial Services, Inc., a futures commission merchant, from August 1988 to September 1990 as a grains and oilseed broker. From September 1990 to October 1997, Todd was a registered associated person and VP Investments with Prudential Equity Group, LLC, a futures commission merchant, continuing as a broker for grains and oilseeds. Todd then returned and served as Senior Vice President, Grains and Oilseed Analyst and was a registered associated person from October 1997 to March 2002 at UBS Financial Services Inc., a future commission merchant. He was also the Managing Director and a registered associated person from March 2002 to September 2005 and branch office manager from April 2003 to September 2005 with Rosenthal Collins Group, LLC, a broker dealer/futures commission merchant. He was a registered associated person from September 2005 to August 2006 and a branch office manager from March 2006 to August 2006 of New World Holdings LLC, an introducing broker and commodity trading advisor. Since March 2006 he has been a registered associated person and principal of DL Global Futures, LLC which functions as an introducing broker in the commodity and futures industry and acts in such capacity for Gamma Fund. He is CEO of DL Global Futures, LLC. Mr. Delay is also co-owner and operator of a 8,000 acre farming operation in Nebraska, and is President of Lloyd Neil & Sons, Inc., a Nebraska corporation which grows corn, soybeans, and raises cow/calf. It is the combination of Mr. Delay’s experience in both the trading of futures, spreads, and options markets as well as his understanding of the physical underlying commodity that enable the trading program to develop its agricultural trading tactics and strategy. He became a principal and associated person of Gamma Q in May 2007.


Name:  Zachariah Yurch
Position:  Principal
Biography: 


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.