CTA Report

Report Start Date Report End Date

Sector Arc Advisors, LLC / Global Lean Hog Ag Program
Accepting New Investors: Yes Fundamental / Hogs

Performance Since January 2019

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2019	0.41%	-0.40%	0.22%	-1.98%	-3.92%	0.23%	-0.32%	-1.95%	-0.07%	0.20%	0.47%	-1.15%
2020	0.64%	0.00%	-0.66%	0.23%	0.50%	-0.46%	2.51%	-1.16%	1.26%	-1.06%	2.86%	-0.25%
2021	-0.73%	-0.73%	-0.79%	1.23%	2.00%	-3.20%	0.24%	1.83%	0.40%	-1.13%	1.17%	-0.44%
2022	0.40%	-1.60%	0.82%	-1.24%	0.66%	-1.15%	-2.94%	0.66%	-1.41%	2.98%	1.08%	0.28%
2023	-0.07%	-0.54%	-1.43%	-0.08%	0.52%	0.42%	-0.40%	0.89%	0.75%	-0.54%	-0.50%	0.26%
2024	0.46%	-0.40%	1.49%	0.55%	0.35%	-0.51%	0.38%	-0.84%	0.56%

	2019	2020	2021	2022	2023	2024 YTD
ROR	-8.05%	4.41%	-0.27%	-1.59%	-0.74%	2.04%
Max DD	-8.42%	-1.16%	-3.20%	-6.10%	-2.11%	-0.97%

The Notes Below Are An Integral Part of this Report | Track Record Compiled By: Turnkey Partners

Program Description: Sector Arc's inaugural program is specific in nature, but not exclusively held to the Lean Hogs. Necessary livestock contracts and inputs are available for trade and can be initiated at Advisor's discretion. The program uses fundamental analysis derived from well-connected industry relationships, proprietary research and seasonal trends. Short term futures trades are both of the long and short variety, while longer term, trend following trades are typically futures and options on futures spreads and long option strategies. Risk is managed on a trade by trade basis using technical studies to place stop loss parameters at trade initiation. The Advisor is committed to smoothing market movements and steadily growing portfolio returns.

Investment Information

Program Start Date	Oct-2015
Minimum Investment	250,000
Management Fee	2.00%
Incentive Fee	20.00%
Margin
Round Turns per Million	1,800
Currency	US Dollars
NFA No:	#048819

Trading Strategy

Market Segment

Loading chart...

Program Statistics
Peak-to-Valley Drawdown (1) (Jan 2019 - Sep 2022)	-10.10%
Worst Monthly Return (May 2019)	-3.92%
Current Losing Streak	-4.96%
Average Monthly Return	-0.06%

Annualized Statistics
Annualized Compounded ROR (2)	-0.81%
Standard Deviation	4.33%
Sharpe Ratio (4)	-0.40
36 Month Calmar Ratio (3)	-0.04

Ascent Capital Management
311 S. Wacker Drive - Suite 600 * Chicago, IL 60606
Office: 312-283-3350 Email: [email protected] | Web Address: http://www.ascentcm.com

Time Window Analysis

Length	Best	Average	Worst
1 mo	3%	-0.1%	-3.9%
3 mo	4.4%	-0.2%	-5.6%
6 mo	4.2%	-0.3%	-7.8%
12 mo	4.7%	-0.2%	-8.3%
18 mo	5.2%	-0.2%	-7.8%
24 mo	5.7%	-0.3%	-6.4%
36 mo	2.5%	-0.9%	-5.4%

Historical Drawdown and Recoveries***

Start	Depth	Length	Recovery	End
Feb-19	-10.10%	44 mo	24 mo	n/a

Comparisons	Program	AG CTA Index
Annualized Compound ROR	-0.81%	5.16%
Cumulative Return	-4.57%	33.53%
Cumulative VAMI (5)	954	1335
Largest Monthly Gain	2.98%	2.99%
Largest Monthly Loss	-3.92%	-1.42%
Correlation	—	0.087
Last 12 Months	1.24%	6.41%
Last 36 Months	-0.74%	14.08%

Loading chart...

Ascent Capital Management
311 S. Wacker Drive - Suite 600 * Chicago, IL 60606
Office: 312-283-3350 Email: [email protected] | Web Address: http://www.ascentcm.com

+ NOTES:

** The drawdown begins in the month listed as start. The length in months of the drawdown is listed under length. The recovery begins in the following month, and the length of the recovery period is listed under recovery. The date listed as end is the month that the program recovered from the drawdown.

Please note that the monthly performance numbers, ROR and Drawdowns are based on end of month values and are not reflective of intramonth volatility.

Statistical Notes

1. Peak to Valley Drawdown ("Maximum Drawdown") is the worst drawdown % loss over the period of 2019-01-31 to 2024-09-30

2. The Annualized Compounded ROR is the average return of an investment over a number of years. It smoothes out returns by assuming constant growth.

3. Calmar Ratio Uses last 36 months of Data

ROR = Rate of Return

AG CTA Index: The Autumn Gold CTA Index is a Non-Investable Index comprised of the client performance of all CTA programs included in the AG database and does not represent the complete universe of CTAs. CTA programs with proprietary performance are not included. Monthly numbers are updated until 45 days after the end of the month. Investors should note that it is not possible to invest in this index.

This report has been prepared from information provided by the Trader and is believed to be reliable. This report should be read in conjunction with the Trader's Disclosure Document.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. TRADING FUTURES AND OPTIONS INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS. THERE ARE NO GUARANTEES OF PROFIT NO MATTER WHO IS MANAGING YOUR MONEY. THERE IS AN UNLIMITED RISK OF LOSS IN SELLING OPTIONS. YOU SHOULD CAREFULLY CONSIDER WHETHER COMMODITY FUTURES AND OPTIONS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. AN INVESTOR MUST READ AND UNDERSTAND THE MANAGER'S CURRENT DISCLOSURE DOCUMENT BEFORE INVESTING.

Ascent Capital Management
311 S. Wacker Drive - Suite 600 * Chicago, IL 60606
Office: 312-283-3350 Email: [email protected] | Web Address: http://www.ascentcm.com