BlackRock Global Horizons I L.P. | 2013 | FY | 3


3.              CONDENSED CONSOLIDATED SCHEDULES OF INVESTMENTS

 

The Partnership trades futures, forwards and options contracts.  The level of trading is affected by conditions in those markets.  During the year ended December 31, 2013, 224,642 contracts were closed. The fair value of options held as of December 31, 2013 includes premiums paid of $380,693 and received of $957,228. The fair value of the Partnership’s futures, forwards and options contracts by type that are presented as Net unrealized profit (loss) / market value on open contracts / options in the Consolidated Statements of Financial Condition as of December 31, 2013 are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long Positions

 

Long Positions
Unrealized

 

 

 

Short Positions

 

Short Positions
Unrealized

 

 

 

Net Unrealized Profit (Loss)

 

 

 

 

 

Commodity 

 

Number

 

Gross Unrealized

 

Profit (Loss)/

 

Percent of

 

Number

 

Gross Unrealized

 

Profit (Loss)/

 

Percent of

 

Market Value on Open

 

Percent of

 

 

 

Industry Sector

 

of Contracts

 

Gains

 

Losses

 

Market Value

 

Net Assets

 

of Contracts

 

Gains

 

Losses

 

Market Value

 

Net Assets

 

Contracts/Options

 

Net Assets

 

Maturity Dates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Futures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture

 

133

 

$

15,035

 

$

(97,886

)

$

(82,851

)

-0.06

%

(150

)

$

153,565

 

$

(22,043

)

$

131,522

 

0.10

%

$

48,671

 

0.04

%

January 14 - December 14

 

Currencies

 

214

 

97,977

 

(40,224

)

57,753

 

0.04

%

(95

)

158,091

 

(4,433

)

153,658

 

0.12

%

211,411

 

0.16

%

March 14

 

Energy

 

56

 

40,183

 

(26,367

)

13,816

 

0.01

%

(5

)

 

(9,488

)

(9,488

)

-0.01

%

4,328

 

0.00

%

January 14 - April 14

 

Interest rates

 

1,284

 

47,047

 

(223,537

)

(176,490

)

-0.13

%

(362

)

45,288

 

(15,569

)

29,719

 

0.02

%

(146,771

)

-0.11

%

January 14 - September 16

 

Metals

 

346

 

800,800

 

(211,988

)

588,812

 

0.45

%

(331

)

227,723

 

(737,914

)

(510,191

)

-0.39

%

78,621

 

0.06

%

January 14 - April 14

 

Stock indices

 

495

 

970,818

 

(1,787

)

969,031

 

0.73

%

(96

)

200

 

(11,777

)

(11,577

)

-0.01

%

957,454

 

0.72

%

January 14 - March 14

 

Subtotal

 

2,528

 

1,971,860

 

(601,789

)

1,370,071

 

1.04

%

(1,039

)

584,867

 

(801,224

)

(216,357

)

-0.17

%

1,153,714

 

0.87

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forwards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Currencies

 

 

 

156,904

 

(116,121

)

40,783

 

0.03

%

 

 

179,807

 

(303,256

)

(123,449

)

-0.09

%

(82,666

)

-0.06

%

January 14 - May 14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Currencies

 

 

172,223

 

 

172,223

 

0.13

%

 

 

(122,974

)

(122,974

)

-0.09

%

49,249

 

0.04

%

January 14

 

Energy

 

15

 

11,100

 

 

11,100

 

0.01

%

(75

)

 

(37,650

)

(37,650

)

-0.03

%

(26,550

)

-0.02

%

January 14

 

Interest rates

 

465

 

406,734

 

 

406,734

 

0.31

%

(1,935

)

 

(733,359

)

(733,359

)

-0.56

%

(326,625

)

-0.25

%

January 14

 

Stock indices

 

 

 

 

 

0.00

%

(333

)

 

(262,470

)

(262,470

)

-0.20

%

(262,470

)

-0.20

%

January 14 - March 14

 

Subtotal

 

480

 

590,057

 

 

590,057

 

0.45

%

(2,343

)

 

(1,156,453

)

(1,156,453

)

-0.88

%

(566,396

)

-0.43

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

3,008

 

$

2,718,821

 

$

(717,910

)

$

2,000,911

 

1.52

%

(3,382

)

$

764,674

 

$

(2,260,933

)

$

(1,496,259

)

-1.14

%

$

504,652

 

0.38

%

 

 

 

No individual contract’s unrealized profit or loss comprised greater than 5% of the Partnership’s capital as of December 31, 2013.

 

During the year ended December 31, 2012, 181,630 contracts were closed. The fair value of options held as of December 31, 2012 includes premiums paid of $431,164 and received of $265,272. The fair value of the Partnership’s futures, forwards and options contracts by type that are presented as Net unrealized profit (loss) / market value on open contracts / options in the Consolidated Statements of Financial Condition as of December 31, 2012 are as follows:

 

 

 

 

 

 

 

 

 

Long Positions

 

 

 

 

 

 

 

 

 

Short Positions

 

 

 

 

 

 

 

 

 

 

 

Long Positions

 

Unrealized

 

 

 

Short Positions

 

Unrealized

 

 

 

Net Unrealized Profit (Loss)

 

 

 

 

 

Commodity 

 

Number

 

Gross Unrealized

 

Profit (Loss)/

 

Percent of

 

Number

 

Gross Unrealized

 

Profit (Loss)/

 

Percent of

 

Market Value on Open

 

Percent of

 

 

 

Industry Sector

 

of Contracts

 

Gains

 

Losses

 

Market Value

 

Net Assets

 

of Contracts

 

Gains

 

Losses

 

Market Value

 

Net Assets

 

Contracts/Options

 

Net Assets

 

Maturity Dates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Futures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture

 

227

 

$

30,992

 

$

(210,917

)

$

(179,925

)

-0.07

%

(191

)

$

137,576

 

$

(47,215

)

$

90,361

 

0.04

%

$

(89,564

)

-0.03

%

January 13 - December 13

 

Currencies

 

671

 

166,846

 

(485,889

)

(319,043

)

-0.12

%

(146

)

552,029

 

(8,725

)

543,304

 

0.21

%

224,261

 

0.09

%

January 13 - March 13

 

Energy

 

513

 

364,585

 

(120,408

)

244,177

 

0.09

%

(413

)

209,763

 

(292,975

)

(83,212

)

-0.03

%

160,965

 

0.06

%

January 13 - December 13

 

Interest rates

 

3,850

 

553,893

 

(218,013

)

335,880

 

0.13

%

(209

)

8,275

 

(74,463

)

(66,188

)

-0.03

%

269,692

 

0.10

%

January 13 - March 16

 

Metals

 

1,042

 

2,081,342

 

(671,087

)

1,410,255

 

0.54

%

(949

)

321,773

 

(2,229,051

)

(1,907,278

)

-0.73

%

(497,023

)

-0.19

%

January 13 - March 14

 

Stock indices

 

1,219

 

655,637

 

(328,838

)

326,799

 

0.12

%

(90

)

21,870

 

(195

)

21,675

 

0.01

%

348,474

 

0.13

%

January 13 - December 13

 

Subtotal

 

7,522

 

3,853,295

 

(2,035,152

)

1,818,143

 

0.69

%

(1,998

)

1,251,286

 

(2,652,624

)

(1,401,338

)

-0.53

%

416,805

 

0.16

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forwards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Currencies

 

 

 

355,855

 

(287,104

)

68,751

 

0.03

%

 

 

604,032

 

(2,745,213

)

(2,141,181

)

-0.82

%

(2,072,430

)

-0.79

%

January 13 - September 13

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Currencies

 

 

2,200

 

 

2,200

 

0.00

%

 

 

(203,826

)

(203,826

)

-0.08

%

(201,626

)

-0.08

%

January 13

 

Energy

 

33

 

4,840

 

 

4,840

 

0.00

%

(33

)

 

(32,670

)

(32,670

)

-0.01

%

(27,830

)

-0.01

%

January 13 - February 13

 

Interest rates

 

110

 

47,438

 

 

47,438

 

0.02

%

(407

)

 

(108,625

)

(108,625

)

-0.04

%

(61,187

)

-0.02

%

January 13 - February 13

 

Metals

 

79

 

254,000

 

 

254,000

 

0.10

%

 

 

 

 

0.00

%

254,000

 

0.10

%

January 13 - November 13

 

Stock indices

 

44

 

75,350

 

 

75,350

 

0.03

%

(88

)

 

(68,200

)

(68,200

)

-0.03

%

7,150

 

0.00

%

January 13

 

Subtotal

 

266

 

383,828

 

 

383,828

 

0.15

%

(528

)

 

(413,321

)

(413,321

)

-0.16

%

(29,493

)

-0.01

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

7,788

 

$

4,592,978

 

$

(2,322,256

)

$

2,270,722

 

0.87

%

(2,526

)

$

1,855,318

 

$

(5,811,158

)

$

(3,955,840

)

-1.51

%

$

(1,685,118

)

-0.64

%

 

 

 

No individual contract’s unrealized profit or loss comprised greater than 5% of the Partnership’s capital as of December 31, 2012.

 

The following table represents the Partnership’s investment in each Non-Consolidated LLC as well as the financial statements, condensed schedules of investments, and relevant financial information of the Non-Consolidated LLCs as of December 31, 2013 and 2012:

 

2013

 

 

 

Partnership’s

 

Partnership’s

 

Partnership’s investment %

 

 

 

 

 

 

 

Non-Consolidated LLC

 

Fair Value

 

Cost

 

of Non-Consolidated LLC

 

Management Fee

 

Profit Share

 

Redemptions Permitted

 

Alamo Global Horizons, LLC

 

$

8,199,499

 

$

9,469,624

 

77.02

%

2

%

20

%

Monthly

 

Breakout Global Horizons, LLC

 

9,010,495

 

9,579,951

 

70.62

%

1

%

15

%

Monthly

 

Cambridge Global Horizons, LLC

 

7,773,556

 

11,256,744

 

60.99

%

1.35

%

10

%

Monthly

 

Quaker Global Horizons, LLC

 

14,195,907

 

13,349,897

 

64.37

%

1

%

20

%(1)

Monthly

 

Quantum Global Horizons, LLC

 

10,085,057

 

11,757,274

 

45.15

%

0

%

30

%

Monthly

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

49,264,514

 

$

55,413,490

 

 

 

 

 

 

 

 

 

 

(1) If net contribution amount is more than $50 million, the percentage shall equal 17.5%

 

2012

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Partnership’s

 

Partnership’s

 

Partnership’s investment %

 

 

 

 

 

 

 

Non-Consolidated LLC

 

Fair Value

 

Cost

 

of Non-Consolidated LLC

 

Management Fee

 

Profit Share

 

Redemptions Permitted

 

Alamo Global Horizons, LLC

 

$

17,559,155

 

$

20,116,405

 

76.18

%

2

%

20

%

Monthly

 

Breakout Global Horizons, LLC

 

18,966,146

 

23,560,266

 

48.24

%

1

%

15

%

Monthly

 

Cambridge Global Horizons, LLC

 

24,462,897

 

21,260,160

 

59.84

%

2

%

20

%

Monthly

 

Nets Global Horizons, LLC

 

17,110,071

 

22,837,847

 

57.54

%

2

%

17

%

Monthly

 

Quantum Global Horizons, LLC

 

21,164,490

 

20,640,437

 

47.64

%

0

%

30

%

Monthly

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$

99,262,759

 

$

108,415,115

 

 

 

 

 

 

 

 

 

 

STATEMENTS OF FINANCIAL CONDITION

DECEMBER 31, 2013

 

 

 

Alamo

 

Breakout

 

Cambridge

 

Quaker

 

Quantum

 

 

 

Global Horizons, LLC

 

Global Horizons, LLC

 

Global Horizons, LLC

 

Global Horizons, LLC

 

Global Horizons, LLC

 

 

 

 

 

 

 

 

 

 

 

 

 

ASSETS:

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

8,183,611

 

$

10,497,462

 

$

8,337,799

 

$

11,978,889

 

$

19,551,925

 

Equity in commodity futures trading accounts: Cash (1)

 

2,966,409

 

3,178,709

 

5,069,438

 

10,681,449

 

4,535,527

 

Net unrealized profit on open contracts

 

99,554

 

539,757

 

238,479

 

840,087

 

381,076

 

Accrued interest and other assets

 

520

 

 

 

 

272

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL ASSETS

 

$

11,250,094

 

$

14,215,928

 

$

13,645,716

 

$

23,500,425

 

$

24,468,800

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND MEMBERS’ CAPITAL

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Due to Partnership

 

$

559,480

 

$

614,421

 

$

527,516

 

$

1,242,900

 

$

687,414

 

Redemptions payable

 

 

573,985

 

308,875

 

 

853,745

 

Subscription received in advance

 

 

200,000

 

 

 

450,000

 

Profit Shares payable

 

 

 

 

173,061

 

68,481

 

Trading Advisors’ management fees payable

 

4,083

 

3,605

 

5,937

 

6,698

 

 

Administrator fees payable

 

10,806

 

26,605

 

22,632

 

3,288

 

31,646

 

Professional fees payable

 

33,261

 

36,433

 

32,016

 

20,001

 

38,933

 

Other fees payable

 

(2,864

)

2,365

 

2,935

 

382

 

1,767

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 

604,766

 

1,457,414

 

899,911

 

1,446,330

 

2,131,986

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL MEMBERS’ CAPITAL

 

10,645,328

 

12,758,514

 

12,745,805

 

22,054,095

 

22,336,814

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL LIABILITIES AND MEMBERS’ CAPITAL

 

$

11,250,094

 

$

14,215,928

 

$

13,645,716

 

$

23,500,425

 

$

24,468,800

 

 

(1) Includes restricted cash of $1,318,821, $2,529,118, $669,616, $5,369,821 and $1,123,068, respectively.

 

STATEMENTS OF FINANCIAL CONDITION

DECEMBER 31, 2012

 

 

 

Alamo

 

Breakout

 

Cambridge

 

Nets

 

Quantum

 

 

 

Global Horizons, LLC

 

Global Horizons, LLC

 

Global Horizons, LLC

 

Global Horizons, LLC

 

Global Horizons, LLC

 

 

 

 

 

 

 

 

 

 

 

 

 

ASSETS:

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

20,377,477

 

$

21,595,885

 

$

4,757,862

 

$

26,712,321

 

$

24,812,881

 

Equity in commodity futures trading accounts: Cash (1)

 

3,478,994

 

18,089,465

 

38,461,055

 

5,138,261

 

21,435,349

 

Net unrealized profit on open contracts

 

262,603

 

1,042,090

 

 

 

 

Accrued interest and other assets

 

2,712

 

3,325

 

2,720

 

1,319

 

4,094

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL ASSETS

 

$

24,121,786

 

$

40,730,765

 

$

43,221,637

 

$

31,851,901

 

$

46,252,324

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND MEMBERS’ CAPITAL

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net unrealized loss on open contracts

 

$

 

$

 

$

175,044

 

$

91,517

 

$

521,711

 

Due to Partnership

 

1,026,163

 

1,108,537

 

1,680,015

 

997,556

 

1,237,006

 

Redemptions payable

 

 

230,000

 

 

950,000

 

 

Profit Shares payable

 

 

 

407,841

 

 

 

Trading Advisors’ management fees payable

 

9,166

 

17,164

 

28,093

 

22,700

 

 

Administrator fees payable

 

8,224

 

19,706

 

15,569

 

17,468

 

22,826

 

Professional fees payable

 

27,361

 

30,833

 

26,116

 

31,250

 

33,333

 

Other fees payable

 

1,368

 

9,307

 

6,247

 

5,667

 

8,148

 

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities

 

1,072,282

 

1,415,547

 

2,338,925

 

2,116,158

 

1,823,024

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL MEMBERS’ CAPITAL

 

23,049,504

 

39,315,218

 

40,882,712

 

29,735,743

 

44,429,300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

TOTAL LIABILITIES AND MEMBERS’ CAPITAL

 

$

24,121,786

 

$

40,730,765

 

$

43,221,637

 

$

31,851,901

 

$

46,252,324

 

 

(1) Includes restricted cash of $1,359,877, $7,597,881, $14,557,619, $2,095,713 and $7,392,494, respectively.

 

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2013

 

 

 

Alamo

 

Breakout

 

Cambridge

 

Quaker

 

Quantum

 

 

 

Global Horizons, LLC

 

Global Horizons, LLC

 

Global Horizons, LLC

 

Global Horizons, LLC

 

Global Horizons, LLC

 

TRADING PROFITS (LOSSES):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Realized

 

$

(178,588

)

$

1,028,777

 

$

(4,507,557

)

$

1,908,485

 

$

(3,054,963

)

Change in unrealized

 

(178,881

)

(489,618

)

180,645

 

839,434

 

922,140

 

Brokerage commissions and clearing costs

 

(43,377

)

(67,359

)

(192,350

)

(117,010

)

(129,629

)

 

 

 

 

 

 

 

 

 

 

 

 

Total trading profits (losses)

 

(400,846

)

471,800

 

(4,519,262

)

2,630,909

 

(2,262,452

)

 

 

 

 

 

 

 

 

 

 

 

 

INVESTMENT INCOME:

 

 

 

 

 

 

 

 

 

 

 

Interest

 

9,324

 

11,148

 

 

 

14,689

 

 

 

 

 

 

 

 

 

 

 

 

 

EXPENSES:

 

 

 

 

 

 

 

 

 

 

 

Trading Advisors’ management fees

 

314,380

 

259,378

 

428,609

 

154,892

 

 

Profit Shares

 

 

 

479

 

471,623

 

68,481

 

Administrator fees

 

46,078

 

50,483

 

55,783

 

32,980

 

51,158

 

Professional fees

 

70,968

 

74,841

 

79,833

 

48,591

 

74,621

 

Other fees

 

578,782

 

636,905

 

792,930

 

483,195

 

634,624

 

Total expenses

 

1,010,208

 

1,021,607

 

1,357,634

 

1,191,281

 

828,884

 

 

 

 

 

 

 

 

 

 

 

 

 

NET INVESTMENT LOSS

 

(1,000,884

)

(1,010,459

)

(1,357,634

)

(1,191,281

)

(814,195

)

 

 

 

 

 

 

 

 

 

 

 

 

NET INCOME / (LOSS)

 

$

(1,401,730

)

$

(538,659

)

$

(5,876,896

)

$

1,439,628

 

$

(3,076,647

)

 

STATEMENTS OF OPERATIONS

FOR THE YEAR ENDED DECEMBER 31, 2012

 

 

 

Alamo

 

Breakout

 

Cambridge

 

Nets

 

Quantum

 

 

 

Global Horizons, LLC

 

Global Horizons, LLC

 

Global Horizons, LLC

 

Global Horizons, LLC

 

Global Horizons, LLC

 

TRADING PROFITS (LOSSES):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Realized

 

$

(695,043

)

$

(6,295,144

)

$

9,438,281

 

$

(6,661,564

)

$

5,853,021

 

Change in unrealized

 

(239,088

)

687,004

 

380,791

 

128,008

 

309,294

 

Brokerage commissions and clearing costs

 

(155,012

)

(151,374

)

(624,299

)

(73,267

)

(269,264

)

 

 

 

 

 

 

 

 

 

 

 

 

Total trading profits (losses)

 

(1,089,143

)

(5,759,514

)

9,194,773

 

(6,606,823

)

5,893,051

 

 

 

 

 

 

 

 

 

 

 

 

 

INVESTMENT INCOME:

 

 

 

 

 

 

 

 

 

 

 

Interest

 

43,077

 

52,475

 

 

47,328

 

53,066

 

 

 

 

 

 

 

 

 

 

 

 

 

EXPENSES:

 

 

 

 

 

 

 

 

 

 

 

Trading Advisors’ management fees

 

614,518

 

488,959

 

953,699

 

851,236

 

 

Profit Shares

 

 

 

1,173,623

 

 

2,756,131

 

Administrator fees

 

88,694

 

95,739

 

113,056

 

94,334

 

91,946

 

Professional fees

 

152,733

 

160,459

 

185,622

 

158,204

 

155,086

 

Other fees

 

1,058,674

 

1,132,442

 

1,435,287

 

1,110,434

 

1,115,510

 

Total expenses

 

1,914,619

 

1,877,599

 

3,861,287

 

2,214,208

 

4,118,673

 

 

 

 

 

 

 

 

 

 

 

 

 

NET INVESTMENT LOSS

 

(1,871,542

)

(1,825,124

)

(3,861,287

)

(2,166,880

)

(4,065,607

)

 

 

 

 

 

 

 

 

 

 

 

 

NET INCOME / (LOSS)

 

$

(2,960,685

)

$

(7,584,638

)

$

5,333,486

 

$

(8,773,703

)

$

1,827,444

 

 

The Non-Consolidated LLCs trade futures and forwards contracts. The fair value of the Non-Consolidated LLCs’ futures and forwards contracts by type that are presented as Net unrealized profit (loss) on open contracts in their respective Statements of Financial Condition as of December 31, 2013 are as follows:

 

Alamo Global Horizons, LLC

 

 

 

Long Positions

 

Long Positions

 

 

 

Short Positions

 

Short Positions

 

 

 

Net Unrealized

 

 

 

 

 

Commodity 

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Profit (Loss) on

 

Percent of

 

 

 

Industry Sector

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

Open Contracts

 

Members’ Capital

 

Maturity Dates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Futures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture

 

134

 

$

20,100

 

$

(90,318

)

$

(70,218

)

-0.66

%

(443

)

$

267,788

 

$

(65,870

)

$

201,918

 

1.90

%

$

131,700

 

1.24

%

February 14 - March 14

 

Currencies

 

113

 

108,074

 

(16,612

)

91,462

 

0.86

%

(88

)

75,461

 

(5,051

)

70,410

 

0.66

%

161,872

 

1.52

%

March 14

 

Interest rates

 

69

 

 

(34,882

)

(34,882

)

-0.32

%

(41

)

 

(45,469

)

(45,469

)

-0.43

%

(80,351

)

-0.75

%

March 14 - June 14

 

Metals

 

12

 

4,108

 

(30,693

)

(26,585

)

-0.25

%

(61

)

 

(87,082

)

(87,082

)

-0.82

%

(113,667

)

-1.07

%

January 14 - April 14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

328

 

$

132,282

 

$

(172,505

)

$

(40,223

)

-0.37

%

(633

)

$

343,249

 

$

(203,472

)

$

139,777

 

1.31

%

$

99,554

 

0.94

%

 

 

 

Breakout Global Horizons, LLC

 

 

 

Long Positions

 

Long Positions

 

 

 

Short Positions

 

Short Positions

 

 

 

Net Unrealized

 

 

 

 

 

Commodity 

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Profit (Loss) on

 

Percent of

 

 

 

Industry Sector

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

Open Contracts

 

Members’ Capital

 

Maturity Dates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Futures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture

 

80

 

$

76,560

 

$

(8,688

)

$

67,872

 

0.53

%

(80

)

$

108,725

 

$

 

$

108,725

 

0.85

%

$

176,597

 

1.38

%

February 14 - March 14

 

Currencies

 

139

 

132,914

 

(21,575

)

111,339

 

0.87

%

(151

)

96,275

 

(27,890

)

68,385

 

0.54

%

179,724

 

1.41

%

March 14

 

Energy

 

32

 

59,320

 

(7,526

)

51,794

 

0.41

%

(9

)

 

(8,130

)

(8,130

)

-0.07

%

43,664

 

0.34

%

January 14 - March 14

 

Interest rates

 

55

 

1,443

 

(67,135

)

(65,692

)

-0.51

%

(173

)

17,274

 

(58,186

)

(40,912

)

-0.33

%

(106,604

)

-0.84

%

March 14 - June 14

 

Metals

 

103

 

46,081

 

(133,491

)

(87,410

)

-0.69

%

(118

)

85,961

 

(107,526

)

(21,565

)

-0.16

%

(108,975

)

-0.85

%

January 14 - March 14

 

Stock indices

 

196

 

355,451

 

(100

)

355,351

 

2.79

%

 

 

 

 

0.00

%

355,351

 

2.79

%

January 14 - March 14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

605

 

$

671,769

 

$

(238,515

)

$

433,254

 

3.40

%

(531

)

$

308,235

 

$

(201,732

)

$

106,503

 

0.83

%

$

539,757

 

4.23

%

 

 

 

Cambridge Global Horizons, LLC

 

 

 

Long Positions

 

Long Positions

 

 

 

Short Positions

 

Short Positions

 

 

 

Net Unrealized

 

 

 

 

 

Commodity

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Profit (Loss) on

 

Percent of

 

 

 

Industry Sector

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

Open Contracts

 

Members’ Capital

 

Maturity Dates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Futures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture

 

5

 

$

 

$

(5,123

)

$

(5,123

)

-0.04

%

(29

)

$

18,939

 

$

(5,044

)

$

13,895

 

0.11

$

8,772

 

0.07

January 14 - March 14

 

Currencies

 

10

 

4,738

 

(1,310

)

3,428

 

0.03

%

(14

)

16,174

 

(148

)

16,026

 

0.13

%

19,454

 

0.16

%

March 14

 

Energy

 

10

 

4,432

 

(4,530

)

(98

)

0.00

%

 

 

 

 

0.00

%

(98

)

0.00

%

January 14 - February 14

 

Interest rates

 

123

 

634

 

(43,996

)

(43,362

)

-0.34

%

(36

)

18,532

 

(54

)

18,478

 

0.14

%

(24,884

)

-0.20

%

January 14 - June 17

 

Metals

 

122

 

176,112

 

(63,429

)

112,683

 

0.88

%

(130

)

80,170

 

(240,552

)

(160,382

)

-1.26

%

(47,699

)

-0.38

%

January 14 - April 14

 

Stock indices

 

66

 

187,099

 

 

187,099

 

1.47

%

(1

)

550

 

 

550

 

0.00

%

187,649

 

1.47

%

January 14 - March 14

 

Subtotal

 

336

 

373,015

 

(118,388

)

254,627

 

2.00

%

(210

)

134,365

 

(245,798

)

(111,433

)

-0.88

%

143,194

 

1.12

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forwards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Currencies

 

 

 

244,177

 

(132,514

)

111,663

 

0.87

%

 

 

168,866

 

(185,244

)

(16,378

)

-0.12

%

95,285

 

0.75

%

March 14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

336

 

$

617,192

 

$

(250,902

)

$

366,290

 

2.87

%

(210

)

$

303,231

 

$

(431,042

)

$

(127,811

)

-1.00

%

$

238,479

 

1.87

%

 

 

 

Quaker Global Horizons, LLC

 

 

 

Long Positions

 

Long Positions

 

 

 

Short Positions

 

Short Positions

 

 

 

Net Unrealized

 

 

 

 

 

Commodity

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Profit (Loss) on

 

Percent of

 

 

 

Industry Sector

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

Open Contracts

 

Members’ Capital

 

Maturity Dates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Futures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture

 

117

 

$

87,920

 

$

(66,517

)

$

21,403

 

0.10

%

(225

)

$

320,545

 

$

(15,173

)

$

305,372

 

1.38

$

326,775

 

1.48

February 14 - March 14

 

Energy

 

76

 

59,337

 

(41,925

)

17,412

 

0.08

%

(10

)

7,370

 

(9,496

)

(2,126

)

-0.01

%

15,286

 

0.07

%

January 14 - February 14

 

Interest rates

 

846

 

1,726

 

(911,303

)

(909,577

)

-4.12

%

(674

)

473,078

 

(122,305

)

350,773

 

1.59

%

(558,804

)

-2.53

%

January 14 - December 14

 

Metals

 

 

 

 

 

0.00

%

(31

)

49,220

 

(7,760

)

41,460

 

0.19

%

41,460

 

0.19

%

February 14 - April 14

 

Stock indices

 

240

 

696,785

 

 

696,785

 

3.16

%

(76

)

 

(175,963

)

(175,963

)

-0.80

%

520,822

 

2.36

%

January 14 - March 14

 

Subtotal

 

1,279

 

845,768

 

(1,019,745

)

(173,977

)

-0.78

%

(1,016

)

850,213

 

(330,697

)

519,516

 

2.35

%

345,539

 

1.57

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forwards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Currencies

 

 

 

281,937

 

(154,705

)

127,232

 

0.57

%

 

 

560,587

 

(193,271

)

367,316

 

1.67

%

494,548

 

2.24

%

January 14 - March 14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

1,279

 

$

1,127,705

 

$

(1,174,450

)

$

(46,745

)

-0.21

%

(1,016

)

$

1,410,800

 

$

(523,968

)

$

886,832

 

4.02

%

$

840,087

 

3.81

%

 

 

 

Quantum Global Horizons, LLC

 

 

 

Long Positions

 

Long Positions

 

 

 

Short Positions

 

Short Positions

 

 

 

Net Unrealized

 

 

 

 

 

Commodity 

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Profit (Loss) on

 

Percent of

 

 

 

Industry Sector

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

Open Contracts

 

Members’ Capital

 

Maturity Dates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Futures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture

 

 

$

 

$

 

$

 

0.00

%

(22

)

$

7,337

 

$

 

$

7,337

 

0.03

%

$

7,337

 

0.03

%

March 14

 

Currencies

 

17

 

23,935

 

 

23,935

 

0.11

%

(17

)

29,046

 

(9

)

29,037

 

0.13

%

52,972

 

0.24

%

March 14

 

Energy

 

28

 

350

 

(37,338

)

(36,988

)

-0.17

%

(11

)

2,202

 

(3,111

)

(909

)

0.00

%

(37,897

)

-0.17

%

January 14 - February 14

 

Interest rates

 

 

 

 

 

0.00

%

(241

)

144,533

 

(426

)

144,107

 

0.65

%

144,107

 

0.65

%

March 14

 

Metals

 

3

 

5,408

 

 

5,408

 

0.02

%

(6

)

7,895

 

(1,700

)

6,195

 

0.03

%

11,603

 

0.05

%

February 14 - March 14

 

Stock indices

 

143

 

202,096

 

(292

)

201,804

 

0.90

%

(8

)

2,100

 

(950

)

1,150

 

0.01

%

202,954

 

0.91

%

January 14 - March 14

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

191

 

$

231,789

 

$

(37,630

)

$

194,159

 

0.86

%

(305

)

$

193,113

 

$

(6,196

)

$

186,917

 

0.85

%

$

381,076

 

1.71

%

 

 

 

The level of trading is affected by conditions in those markets. The fair value of the Non-Consolidated LLCs’ futures and forwards contracts by type that are presented as Net unrealized profit (loss) on open contracts in their respective Statements of Financial Condition as of December 31, 2012 are as follows:

 

Alamo Global Horizons, LLC

 

 

 

Long Positions

 

Long Positions

 

 

 

Short Positions

 

Short Positions

 

 

 

Net Unrealized

 

 

 

 

 

Commodity 

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Profit (Loss) on

 

Percent of

 

 

 

Industry Sector

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

Open Contracts

 

Members’ Capital

 

Maturity Dates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Futures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture

 

53

 

$

41,903

 

$

 

$

41,903

 

0.18

%

(247

)

$

192,660

 

$

(95,359

)

$

97,301

 

0.42

%

$

139,204

 

0.60

%

March 13

 

Currencies

 

215

 

76,513

 

(174,782

)

(98,269

)

-0.43

%

(56

)

259,056

 

 

259,056

 

1.13

%

160,787

 

0.70

%

March 13

 

Energy

 

9

 

13,066

 

(12,524

)

542

 

0.00

%

 

 

 

 

0.00

%

542

 

0.00

%

February 13

 

Interest rates

 

275

 

1,880

 

(39,810

)

(37,930

)

-0.16

%

 

 

 

 

0.00

%

(37,930

)

-0.16

%

March 13 - June 13

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

552

 

$

133,362

 

$

(227,116

)

$

(93,754

)

-0.41

%

(303

)

$

451,716

 

$

(95,359

)

$

356,357

 

1.55

%

$

262,603

 

1.14

%

 

 

 

Breakout Global Horizons, LLC

 

 

 

Long Positions

 

Long Positions

 

 

 

Short Positions

 

Short Positions

 

 

 

Net Unrealized

 

 

 

 

 

Commodity 

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Profit (Loss) on

 

Percent of

 

 

 

Industry Sector

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

Open Contracts

 

Members’ Capital

 

Maturity Dates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Futures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture

 

 

$

 

$

 

$

 

0.00

%

(264

)

$

337,925

 

$

 

$

337,925

 

0.86

%

$

337,925

 

0.86

%

March 13

 

Currencies

 

968

 

729,065

 

(307,440

)

421,625

 

1.07

%

(183

)

365,402

 

 

365,402

 

0.93

%

787,027

 

2.00

%

March 13

 

Energy

 

15

 

 

(9,341

)

(9,341

)

-0.02

%

(80

)

53,800

 

(225,120

)

(171,320

)

-0.44

%

(180,661

)

-0.46

%

January 13 - March 13

 

Interest rates

 

553

 

206,994

 

(238,994

)

(32,000

)

-0.08

%

 

 

 

 

0.00

%

(32,000

)

-0.08

%

March 13 - June 13

 

Metals

 

158

 

 

(266,278

)

(266,278

)

-0.68

%

(103

)

 

(335,677

)

(335,677

)

-0.85

%

(601,955

)

-1.53

%

February 13 - March 13

 

Stock indices

 

444

 

756,597

 

(24,843

)

731,754

 

1.86

%

 

 

 

 

0.00

%

731,754

 

1.86

%

January 13 - March 13

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

2,138

 

$

1,692,656

 

$

(846,896

)

$

845,760

 

2.15

%

(630

)

$

757,127

 

$

(560,797

)

$

196,330

 

0.50

%

$

1,042,090

 

2.65

%

 

 

 

Cambridge Global Horizons, LLC

 

 

 

Long Positions

 

Long Positions

 

 

 

Short Positions

 

Short Positions

 

 

 

Net Unrealized

 

 

 

 

 

Commodity 

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Profit (Loss) on

 

Percent of

 

 

 

Industry Sector

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

Open Contracts

 

Members’ Capital

 

Maturity Dates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Futures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture

 

95

 

$

1,398

 

$

(159,683

)

$

(158,285

)

-0.38

%

(211

)

$

159,461

 

$

(49,206

)

$

110,255

 

0.27

%

$

(48,030

)

-0.11

%

February 13 - May 13

 

Currencies

 

251

 

21,950

 

(195,816

)

(173,866

)

-0.43

%

(60

)

115,239

 

(12,222

)

103,017

 

0.25

%

(70,849

)

-0.18

%

March 13

 

Energy

 

333

 

988,215

 

(17,519

)

970,696

 

2.37

%

(275

)

23,595

 

(668,170

)

(644,575

)

-1.58

%

326,121

 

0.79

%

January 13 - March 13

 

Interest rates

 

4,585

 

272,084

 

(392,660

)

(120,576

)

-0.29

%

(309

)

13,922

 

(8,114

)

5,808

 

0.01

%

(114,768

)

-0.28

%

January 13 - December 14

 

Metals

 

179

 

130,109

 

(110,636

)

19,473

 

0.05

%

(238

)

120,327

 

(521,274

)

(400,947

)

-0.98

%

(381,474

)

-0.93

%

January 13 - April 13

 

Stock indices

 

926

 

253,558

 

(396,736

)

(143,178

)

-0.35

%

(16

)

2,200

 

(11,350

)

(9,150

)

-0.02

%

(152,328

)

-0.37

%

January 13 - March 13

 

Subtotal

 

6,369

 

1,667,314

 

(1,273,050

)

394,264

 

0.97

%

(1,109

)

434,744

 

(1,270,336

)

(835,592

)

-2.05

%

(441,328

)

-1.08

%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Forwards

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Currencies

 

 

 

1,626,302

 

(815,193

)

811,109

 

1.98

%

 

 

1,137,882

 

(1,682,707

)

(544,825

)

-1.33

%

266,284

 

0.65

%

March 13

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

6,369

 

$

3,293,616

 

$

(2,088,243

)

$

1,205,373

 

2.95

%

(1,109

)

$

1,572,626

 

$

(2,953,043

)

$

(1,380,417

)

-3.38

%

$

(175,044

)

-0.43

%

 

 

 

Nets Global Horizons, LLC

 

 

 

Long Positions

 

Long Positions

 

 

 

Short Positions

 

Short Positions

 

 

 

Net Unrealized

 

 

 

 

 

Commodity 

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Profit (Loss) on

 

Percent of

 

 

 

Industry Sector

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

Open Contracts

 

Members’ Capital

 

Maturity Dates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Futures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture

 

50

 

$

 

$

(128,932

)

$

(128,932

)

-0.43

%

(176

)

$

141,311

 

$

(25,300

)

$

116,011

 

0.39

%

$

(12,921

)

-0.04

%

February 13 - March 13

 

Currencies

 

102

 

21,032

 

(71,651

)

(50,619

)

-0.17

%

(20

)

120,000

 

 

120,000

 

0.40

%

69,381

 

0.23

%

March 13

 

Energy

 

10

 

4,989

 

(6,964

)

(1,975

)

-0.01

%

(34

)

33,953

 

(31,918

)

2,035

 

0.01

%

60

 

0.00

%

January 13 - February 13

 

Interest rates

 

72

 

16,661

 

(9,829

)

6,832

 

0.02

%

(18

)

12,104

 

(3,084

)

9,020

 

0.03

%

15,852

 

0.05

%

March 13 - June 13

 

Metals

 

31

 

48,405

 

(35,391

)

13,014

 

0.05

%

(52

)

26,378

 

(79,691

)

(53,313

)

-0.18

%

(40,299

)

-0.13

%

January 13 - March 13

 

Stock indices

 

10

 

3,246

 

(6,325

)

(3,079

)

-0.01

%

(127

)

67,767

 

(188,278

)

(120,511

)

-0.41

%

(123,590

)

-0.42

%

January 13 - March 13

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

275

 

$

94,333

 

$

(259,092

)

$

(164,759

)

-0.55

%

(427

)

$

401,513

 

$

(328,271

)

$

73,242

 

0.24

%

$

(91,517

)

-0.31

%

 

 

 

Quantum Global Horizons, LLC

 

 

 

Long Positions

 

Long Positions

 

 

 

Short Positions

 

Short Positions

 

 

 

Net Unrealized

 

 

 

 

 

Commodity 

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Number

 

Gross Unrealized

 

Unrealized

 

Percent of

 

Profit (Loss) on

 

Percent of

 

 

 

Industry Sector

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

of Contracts

 

Gains

 

Losses

 

Profit (Loss)

 

Members’ Capital

 

Open Contracts

 

Members’ Capital

 

Maturity Dates

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Futures

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Agriculture

 

35

 

$

2,559

 

$

(11,257

)

$

(8,698

)

-0.02

%

(17

)

$

5,557

 

$

(1,671

)

$

3,886

 

0.01

%

$

(4,812

)

-0.01

%

February 13 - March 13

 

Currencies

 

247

 

17,613

 

(141,677

)

(124,064

)

-0.28

%

(94

)

10,408

 

(14,539

)

(4,131

)

-0.01

%

(128,195

)

-0.29

%

March 13

 

Energy

 

13

 

8,471

 

 

8,471

 

0.02

%

(18

)

22,753

 

(835

)

21,918

 

0.05

%

30,389

 

0.07

%

January 13 - February 13

 

Interest rates

 

436

 

675,970

 

(2,705

)

673,265

 

1.52

%

(970

)

73,045

 

(357,958

)

(284,913

)

-0.64

%

388,352

 

0.88

%

March 13

 

Metals

 

23

 

36,135

 

 

36,135

 

0.08

%

(23

)

303

 

(1,184

)

(881

)

0.00

%

35,254

 

0.08

%

February 13 - April 13

 

Stock indices

 

75

 

4,031

 

(64,252

)

(60,221

)

-0.14

%

(1,296

)

106,146

 

(888,624

)

(782,478

)

-1.76

%

(842,699

)

-1.90

%

January 13 - March 13

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

829

 

$

744,779

 

$

(219,891

)

$

524,888

 

1.18

%

(2,418

)

$

218,212

 

$

(1,264,811

)

$

(1,046,599

)

-2.35

%

$

(521,711

)

-1.17

%

 

 

 

The trading profits (losses) of the Partnership’s derivatives by instrument type, as well as the location of those gains and losses on the Consolidated Statements of Operations for the years ended December 31, 2013, 2012 and 2011 are as follows:

 

2013

 

 

 

 

 

Change in Net

 

 

 

Commodity 

 

Realized Profits

 

Unrealized

 

Net Trading

 

Industry Sector

 

(Losses)

 

Profits (Losses)

 

Profits (Losses)

 

 

 

 

 

 

 

 

 

Futures

 

 

 

 

 

 

 

Agriculture

 

$

302,931

 

$

138,234

 

$

441,165

 

Currencies

 

(2,658,672

)

(83,717

)

(2,742,389

)

Energy

 

(2,636,353

)

(156,637

)

(2,792,990

)

Interest rates

 

(7,711,437

)

(416,464

)

(8,127,901

)

Metals

 

(88,677

)

575,645

 

486,968

 

Stock indices

 

2,719,677

 

608,980

 

3,328,657

 

Subtotal

 

(10,072,531

)

666,041

 

(9,406,490

)

 

 

 

 

 

 

 

 

Forwards

 

 

 

 

 

 

 

Currencies

 

(5,939,318

)

1,989,762

 

(3,949,556

)

 

 

 

 

 

 

 

 

Options

 

 

 

 

 

 

 

Agriculture

 

(432,986

)

 

(432,986

)

Currencies

 

2,673,941

 

240,288

 

2,914,229

 

Energy

 

1,022,878

 

(11,183

)

1,011,695

 

Interest rates

 

6,011,454

 

(55,100

)

5,956,354

 

Metals

 

(436,295

)

56,144

 

(380,151

)

Stock indices

 

1,735,886

 

(24,623

)

1,711,263

 

Subtotal

 

10,574,878

 

205,526

 

10,780,404

 

 

 

 

 

 

 

 

 

Total

 

$

(5,436,971

)

$

2,861,329

 

$

(2,575,642

)

 

2012

 

 

 

 

 

Change in Net

 

 

 

Commodity 

 

Realized Profits

 

Unrealized

 

Net Trading

 

Industry Sector

 

(Losses)

 

Profits (Losses)

 

Profits (Losses)

 

 

 

 

 

 

 

 

 

Futures

 

 

 

 

 

 

 

Agriculture

 

$

(2,820,296

)

$

(199,915

)

$

(3,020,211

)

Currencies

 

(3,263,268

)

(232,086

)

(3,495,354

)

Energy

 

465,650

 

(37,269

)

428,381

 

Interest rates

 

2,717,223

 

(1,279,367

)

1,437,856

 

Metals

 

(2,136,315

)

(325,359

)

(2,461,674

)

Stock indices

 

(403,550

)

313,805

 

(89,745

)

Subtotal

 

(5,440,556

)

(1,760,191

)

(7,200,747

)

 

 

 

 

 

 

 

 

Forwards

 

 

 

 

 

 

 

Currencies

 

(5,225,167

)

(2,190,759

)

(7,415,926

)

 

 

 

 

 

 

 

 

Options

 

 

 

 

 

 

 

Agriculture

 

(25,197

)

 

(25,197

)

Currencies

 

1,030,112

 

(185,404

)

844,708

 

Energy

 

1,006,201

 

21,872

 

1,028,073

 

Interest rates

 

4,555,729

 

(45,727

)

4,510,002

 

Metals

 

62,913

 

(56,144

)

6,769

 

Stock indices

 

1,354,178

 

(16,165

)

1,338,013

 

Subtotal

 

7,983,936

 

(281,568

)

7,702,368

 

 

 

 

 

 

 

 

 

Total

 

$

(2,681,787

)

$

(4,232,518

)

$

(6,914,305

)

 

2011

 

 

 

 

 

Change in Net

 

 

 

Commodity 

 

Realized Profits

 

Unrealized

 

Net Trading

 

Industry Sector

 

(Losses)

 

Profits (Losses)

 

Profits (Losses)

 

 

 

 

 

 

 

 

 

Futures

 

 

 

 

 

 

 

Agriculture

 

$

(5,774,791

)

$

(1,538,257

)

$

(7,313,048

)

Currencies

 

(992,911

)

(1,267,577

)

(2,260,488

)

Energy

 

(4,011,563

)

(536,058

)

(4,547,621

)

Interest rates

 

20,886,245

 

553,178

 

21,439,423

 

Metals

 

3,345,246

 

(1,501,750

)

1,843,496

 

Stock indices

 

(7,339,014

)

(446,410

)

(7,785,424

)

Subtotal

 

6,113,212

 

(4,736,874

)

1,376,338

 

 

 

 

 

 

 

 

 

Forwards

 

 

 

 

 

 

 

Currencies

 

564,076

 

(2,901,353

)

(2,337,277

)

 

 

 

 

 

 

 

 

Options

 

 

 

 

 

 

 

Currencies

 

3,351,068

 

8,090

 

3,359,158

 

Energy

 

586,225

 

 

586,225

 

Interest rates

 

3,962,742

 

58,130

 

4,020,872

 

Metals

 

108,137

 

 

108,137

 

Stock indices

 

1,133,607

 

21,863

 

1,155,470

 

Subtotal

 

9,141,779

 

88,083

 

9,229,862

 

 

 

 

 

 

 

 

 

Total

 

$

15,819,067

 

$

(7,550,144

)

$

8,268,923

 

 


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