CTA Report

Report Start Date Report End Date

Numberline Capital Partners LLC / Numberline Macro Risk Program (P)
Accepting New Investors: Yes Macro / Indices, Energy, FX Futures, Metals, Financials

Proprietary Pro-Forma Performance adjusted for a 2% Management Fee and 20% Incentive Fee - Performance is Based on Proprietary Trading

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2020 -0.78% -1.20% -7.27% 0.18% 10.92% 4.93% 0.19% 1.36% 0.41% 3.71% -3.79%

2021 0.96% 10.08% 5.32% 2.94% -1.92% 3.32% 2.56% 0.66% -0.57% -0.26% -3.81% 1.75%

2022 -7.61% 2.76% 7.28% -8.36% 1.05% -1.53% 9.20% -18.41% -24.70% -1.82% 24.05% -0.10%

2023 11.23% -0.39% 11.21% 0.44% -0.47% -0.97% 1.75% -0.88% -5.10% 6.07% 3.09% -4.71%

2024 4.92% 0.00% 4.15% -1.43% 2.63% 0.30% -0.27% 6.80% 1.60% 3.18%

2020 2021 2022 2023 2024 YTD
ROR 7.84% 22.35% -24.19% 21.65% 23.80%
Max DD -9.10% -4.61% -39.94% -5.94% -1.43%

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

Program Description: The Numberline Macro Risk Program is a market neutral strategy that trades Equity Indices, Energy, Rates, FX and metals using a quantitative approach to select assets and manage risk.

Investment Information

Program Start Date Feb-2020

Minimum Investment 100,000

Management Fee 2.00%

Incentive Fee 20.00%

Margin 15%

Round Turns per Million 960

Currency US Dollar

NFA No: #0523156

Trading Strategy Market Segment

Loading chart...

Program Statistics
Peak-to-Valley Drawdown (1) (Aug 2021 - Oct 2022) -40.62%

Worst Monthly Return (Sep 2022) -24.70%

Current Losing Streak 0.00%

Average Monthly Return 0.96%

Annualized Statistics

Annualized Compounded ROR (2) 9.01%

Standard Deviation 23.71%

Sharpe Ratio (4) 0.44

36 Month Calmar Ratio (3) 0.09

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. PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR DECISION TO INVEST SOLELY ON THE PAST PERFORMANCE PRESENTED HEREIN.

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

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2020		-0.78%	-1.20%	-7.27%	0.18%	10.92%	4.93%	0.19%	1.36%	0.41%	3.71%	-3.79%
2021	0.96%	10.08%	5.32%	2.94%	-1.92%	3.32%	2.56%	0.66%	-0.57%	-0.26%	-3.81%	1.75%
2022	-7.61%	2.76%	7.28%	-8.36%	1.05%	-1.53%	9.20%	-18.41%	-24.70%	-1.82%	24.05%	-0.10%
2023	11.23%	-0.39%	11.21%	0.44%	-0.47%	-0.97%	1.75%	-0.88%	-5.10%	6.07%	3.09%	-4.71%
2024	4.92%	0.00%	4.15%	-1.43%	2.63%	0.30%	-0.27%	6.80%	1.60%	3.18%

	2020	2021	2022	2023	2024 YTD
ROR	7.84%	22.35%	-24.19%	21.65%	23.80%
Max DD	-9.10%	-4.61%	-39.94%	-5.94%	-1.43%

Time Window Analysis

Length	Best	Average	Worst
1 mo	24.1%	1%	-24.7%
3 mo	37.8%	2.9%	-39.7%
6 mo	53.4%	5.7%	-38.8%
12 mo	53.5%	9.4%	-40.1%
18 mo	62.4%	11.1%	-37.9%
24 mo	86.6%	8.7%	-25.3%
36 mo	36.2%	13%	-0.4%

Historical Drawdown and Recoveries***

Start	Depth	Length	Recovery	End
Sep-21	-40.62%	14 mo	22 mo	Aug-24
Feb-20	-9.10%	3 mo	2 mo	Jun-20
Dec-20	-3.79%	1 mo	2 mo	Feb-21
May-21	-1.92%	1 mo	1 mo	Jun-21

Comparisons	Program	AG CTA Index
Annualized Compound ROR	9.01%	5.26%
Cumulative Return	50.64%	27.58%
Cumulative VAMI (5)	1506	1276
Largest Monthly Gain	24.05%	2.99%
Largest Monthly Loss	-24.70%	-1.27%
Correlation	—	-0.117
Last 12 Months	21.62%	5.38%
Last 36 Months	11.75%	11.46%

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: Proprietary Pro-Forma Performance adjusted for a 2% Management Fee and 20% Incentive Fee

** 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 2020-02-29 to 2024-10-31

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