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Alleman Capital Management LLC - Alleman Capital Crude Hedge (P)

Principal(s): Heather Alleman
Strategy: Crude Oil Hedge Program
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Statistics & Program Information

Dec Return 3.10%	Worst Drawdown ⁽²⁾ -2.65%	Minimum Investment $100,000
YTD Return 93.88%	Losing Streak ⁽³⁾ 0.00 %	AUM⁽⁵⁾ $21,976
Annualized CROR ⁽¹⁾ 79.74	Sharpe Ratio ⁽⁴⁾ 4.71	Calmar Ratio ⁽⁶⁾ N/A

Trading Methodology 100% Discretionary	Style Sub-Categories Fundamental Option Writer Option Spread Trend Anticipatory Relative Value	Trading Style 25% Trend Following 25% Spread Trading 25% Option Trading 25% Fundamental Analysis
Market Sector 100% Energies	Holding Period 100% Short Term	Sector US Contracts Options

Start Date Dec-2023	Currency US Dollar	Margin ⁽⁷⁾ 30 - 50%
New Money Yes	AUM ⁽⁵⁾ $21,976	Management Fee 2.00%
Min Investment $100,000	Annualized CROR ⁽¹⁾ 79.74	Incentive Fee 20.00%
Fund Minimum $0	Losing Streak ⁽³⁾ 0.00 %	Other Fees None
Notional Funds No	Worst Drawdown ⁽²⁾ -2.65 %	Avg Comm ⁽⁸⁾ 3.45%
NFA Member Yes	Sharpe Ratio ⁽⁴⁾ 4.71	Max Comm ⁽⁹⁾ $4.74 Round Turn
NFA Number 0556492	Calmar Ratio ⁽⁶⁾ N/A	Round Turns ⁽¹⁰⁾ 8,000

Starting Date: Dec-2023	Currency: US Dollar
Open to New Investors: Yes	Current Assets: $21,976
Open to US Investors: Yes	Annualized CROR: 79.74%
Minimum Fund Investment: $0	Worst Monthly Drawdown: -2.65
Minimum Managed Account: $100,000	Current Losing Streak: 0.00 %
Domocile:	Calmar: N/A
Subscriptions: N/A	Sharpe Ratio: 4.71
Redemptions: N/A	US Attorney: Not Listed
Lock Up: N/A	Offshore Attorney: Not Listed
Hurdle Rate: N/A	Administrator: Not Listed
Administraton Fee: 0.00%	Prime Broker: Not Listed
Management Fee: 2.00%	Auditor: Not Listed
Incentive Fee: 20.00%	NFA Member: Yes
Other Fees: None	FINRA Member: No
	Other Memberships: None

Type of Fund:	Domicile:	Strategy:

Track Record Prepared By: NAV Consulting Inc.

Correlations: AG CTA Index: -0.394 AG Discretionary CTA Index: -0.371

P - Proprietary Trading Results * C - Client Trading Result * P&C - Combines Client & Proprietary Trading Results (the accounting notes will identify the time frame for each. 1. Rates of Return: Rate of Returns are calculated from the start date of each program. Usually returns are calculated based on the Annual Compounded Rate of Return method. In some cases returns have been calculated on a Non-Compounded basis. This would occur when a Manager trades based on account unit rather than on account equity. The Annualized Compounded Rate of Return ("Annualized CROR") represents the compounded rate of return or each year or portion thereof presented. It is computed by applying successively respective monthly rate of return for each month beginning with the first month of that period. The Annual Rate of Return ("Annual ROR") is the annualized Mean Return. 2. The Worst Peak-to-Valley Drawdown ("Worst Drawdown") is defined as the greatest cumulative percentage decline in net asset value due to losses sustained by the trading program during any period in which the initial net asset value is not equaled or exceeded by a subsequent asset value. 3. Start & End Dates: Indicates the Start and End Dates of the Worst Peak-to-Valley Drawdown. 4. The Current Losing Streak ("Losing Streak") represents the extent of the Advisor's current drawdown. 5. Annualzied Standard Deviation is one way to look at consistency of returns. It measures the degree by which the monthly returns vary from the average (mean) return. 6. Downside Deviation is a measure of downside volatility. It only considers those monthly performance results that are less than the monthly Minimum Acceptable Rate of Return. 7. The Sharpe Ratio is a risk-adjusted ratio that rewards consistency of returns. Traders are penalized for volatility regardless of whether it is on the up or downside. The Sharpe Ratios is calculated using a 1% risk-free rate of return. 8. The Sortino Ratio is a risk-adjusted ratio. The higher the number the better. Results are dependent upon the Minimum Acceptable Rate of Return (currently set at 5%. 9. The Sterling Ratio is a risk-adjusted return measurement calculated by dividing the Annualized Compound ROR by the Average Yearly Maximum Drawdown less an arbitrary 10%. The Sterling Ratio is normally calculated using the last 36 months of data. 10. The Calmar Ratio represents the historical amount gained for each dollar risked. A higher number is better. Unless otherwise denoted the Calmar Ratio is calculated by dividing the 36 month Annualized Compounded ROR by the 36 month Peak to Valley Drawdown. Traders with less than 36 months of data or a negative Calmar Ratio will be indicated by N/A. 11. The Omega Function accounts for the non-normal distributions of returns and takes into account the investor's preferences for loss and gain. Omega is computed directly from the returns distribution and measures the total impact of the moments instead of each one of them individually. 12. Minimum Investment represents the minimum account size. 13. Assets Under Management ("AUM") represents the current nominal assets traded by the Manager. 14. The Number of Winning Months represents the months with positive return. 15. The Number of Losing Months represents the months with negative return. 16. The Percentage of Winning Months represents the % of winning months. 17. Margin to Equity ("Margin") represents the average margin as a percent of a fully funded account. 18. Round Turns per Million ("Round Turns") represent the average number of round turns that would be generated in a $1,000,000 account. 19. Average Commission ("Avg Comm") represents the average commission rate of the composite track record. A higher or lower commission rate would increase or decrease the performance accordingly. 20. Maximum Commisions ("Max Comm") is the Maximum Round Turn Rate allowable by the Manager.

Trading Description:

To achieve the Program's objective, the Advisor uses a combination of net credit put and/or call spreads for options on monthly crude oil futures contracts to generate profits when the spot price of the underlying asset remains in a specific range determined at the time of contract entry. Probabilities, technical analysis, and trend lines will be most commonly used to determine portfolio positions. The Advisor intends to closely monitor current events that it believes may influence fundamentals such as supply and demand during its investment selection process. The Advisor expects to restrict its investment to only option contracts that it believes have an approximate 90% chance of expiring during the contract period, although there is no guarantee that the contracts that the Advisor purchases for clients will meet such threshold. For each contract period, the Advisor will set a target profit threshold for each contract entry. The Advisor intends each client to hold its option positions through the expiration date of the contract and only exit early if the options positions generate profits that meet such a pre-defined threshold or as part of a risk-management strategy. Each month, upon the expiration date, all open contracts are expected to expire with anticipation of full profit to be received. Afterward, the contract process begins for the next month with an expectation of 100% portfolio turnover each month. The Advisor will employ portfolio margin in its investing.

Risk Strategy:

Background:

Heather Alleman was born and raised in the New Orleans, LA area; the youngest in a middle-class family where entrepreneurship and financial independence seemed to be a constant family dream. Realizing she had a talent for breaking down complex subject matter for others to easily understand and a passion for the rewards of watching others learn, she earned a BS in Biology Education from the University of New Orleans in 1997. Eventually stumbling into the field of adult education, Heather found herself teaching Algebra, Calculus, and Physics to budding electronics students, where she particularly enjoyed focusing on students who had a "fear" of mathematics. Following that internal pull toward business and operations, she moved into administration and management within the same college system meanwhile earning an M.Ed. in Higher Education from the University of New Orleans in 2002.

From 2002 until 2022 Heather remained in management and leadership roles within the two organizations for which she worked. Each role came with progressively more responsibility, culminating in her role as Chief Operations Officer. She translated her passion for teaching students into training and developing employees, simultaneously analyzing key metrics to develop successful strategies for improvement. She attributes most of her success to patience and consistency; attributes that she is very well known for in her personal life and professional career.

Despite Heather's success in her chosen career path, she also had a gnawing feeling that she belonged somewhere in the finance industry. As a side hobby, she read everything she could find to learn more about the world of investing. Like many others, Heather felt that getting true unbiased information was an elusive task and eventually set a goal to become part of the industry. In 2018, Heather developed a passion for options, futures, and speculative trading and as she traded her own account for a few years, it became clear that this would ultimately be the segway for a mid-life career change. In August 2022 Heather became a full-time trader and realized quickly she should work toward qualifying as an Advisor to blend her new passion with her love of sharing and educating others. In May 2023, Heather founded Alleman Capital Management LLC, and for the remainder of the year, she continued to develop the trading strategy for the Alleman Capital Crude Hedge Program. In February 2024, Alleman Capital Management LLC registered with CFTC and became a member of NFA as a commodity trading advisor with Heather as its Principal.

Accounting Notes:

Proprietary ProForma adjusted for a 2% management and 20% incentive fee.

Performance

Proprietary ProForma adjusted for a 2% management and 20% incentive fee. (A Portion of this Performance is based on Proprietary Trading)

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	ROR	Max DD
2024	7.85%	4.13%	3.54%	12.22%	4.16%	2.16%	3.42%	7.62%	7.36%	8.51%	4.46%	3.10%	93.88%	0%
2023												-2.65%	-2.65%	-2.65%

Annual Performance

Years	2023	2024
ROR	-2.65%	93.88%
Max DD	-2.65%	0.00%

PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. THERE IS A RISK OF LOSS IN FUTURES TRADING.

THERE IS UNLIMITED RISK OF LOSS ASSOCIATED WITH WRITING SHORT OPTION CONTRACTS.

VAMI, Assets under Management & Worst Drawdown

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Monthly Returns

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RISK DISCLOSURE

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

THIS MATTER IS INTENDED AS A SOLICITATION FOR MANAGED FUTURES. THE RISK OF TRADING COMMODITY FUTURES, OPTIONS AND/OR FOREIGN EXCHANGE ('FOREX') IS SUBSTANTIAL. THE HIGH DEGREE OF LEVERAGE ASSOCIATED WITH COMMODITY FUTURES, OPTIONS AND FOREX CAN WORK AGAINST YOU AS WELL AS FOR YOU. THIS HIGH DEGREE OF LEVERAGE CAN RESULT IN SUBSTANTIAL LOSSES, AS WELL AS GAINS. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. IF YOU ARE UNSURE YOU SHOULD SEEK PROFESSIONAL ADVICE. AN INVESTOR MUST READ AND UNDERSTAND THE CTA’S CURRENT DISCLOSURE DOCUMENT BEFORE INVESTING. THERE ARE NO GUARANTEES OF PROFIT NO MATTER WHO IS MANAGING YOUR MONEY.

PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. IN SOME CASES MANAGED ACCOUNTS ARE CHARGED SUBSTANTIAL COMMISSIONS AND ADVISORY FEES. THOSE ACCOUNTS SUBJECT TO THESE CHARGES, MAY NEED TO MAKE SUBSTANTIAL TRADING PROFITS JUST TO AVOID DEPLETION OF THEIR ASSETS. EACH COMMODITY TRADING ADVISOR ("CTA") IS REQUIRED BY THE COMMODITY FUTURES TRADING COMMISSION ("CFTC") TO ISSUE TO PROSPECTIVE CLIENTS A RISK DISCLOSURE DOCUMENT OUTLINING THESE FEES, CONFLICTS OF INTEREST AND OTHER ASSOCIATED RISKS. A HARD COPY OF THESE RISK DISCLOSURE DOCUMENTS ARE READILY AVAILABLE BY CLICKING ON EACH CTA'S "REQUEST DISCLOSURE DOCUMENT" BUTTON.

THE FULL RISK OF COMMODITY FUTURES, OPTIONS AND FOREX TRADING CAN NOT BE ADDRESSED IN THIS RISK DISCLOSURE STATEMENT. NO CONSIDERATION TO INVEST SHOULD BE MADE WITHOUT THOROUGHLY READING THE DISCLOSURE DOCUMENT OF EACH OF THE CTAS IN WHICH YOU MAY HAVE AN INTEREST. REQUESTING A DISCLOSURE DOCUMENT PLACES YOU UNDER NO OBLIGATION AND EACH DOCUMENT IS PROVIDED AT NO COST. THE CFTC HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN ANY OF THE FOLLOWING PROGRAMS NOR ON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE DOCUMENTS. OTHER DISCLOSURE STATEMENTS ARE REQUIRED TO BE PROVIDED TO YOU BEFORE AN ACCOUNT MAY BE OPENED FOR YOU.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR DECISION ON INVESTING IN THIS TRADING PROGRAM SOLELY ON THE PAST PERFORMANCE PRESENTED. ADDITIONALLY, IN MAKING AN INVESTMENT DECISION, PROSPECTIVE CLIENTS MUST ALSO RELY ON THEIR OWN EXAMINATION OF THE PERSON OR ENTITY MAKING THE TRADING DECISIONS AND THE TERMS OF THE ADVISORY AGREEMENT INCLUDING THE MERITS AND RISKS INVOLVED.

AUTUMN GOLD CTA INDEXES ARE NON-INVESTABLE INDEXES COMPRISED OF THE CLIENT PERFORMANCE OF CTA PROGRAMS INCLUDED IN THE AUTUMN GOLD DATABASE AND DO NOT REPRESENT THE COMPLETE UNIVERSE OF CTAS. INVESTORS SHOULD NOTE THAT IT IS NOT POSSIBLE TO INVEST IN THESE INDEXES.