| Ratios to Average Partners' Capital and Other Information |
The following represents the ratios to average limited partners’ capital and other information for the three and nine month periods ended September 30, 2026 and 2025:
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For the three months ended
September 30, 2026 |
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For the three months ended
September 30, 2025 |
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Class A |
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Class A |
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Class B |
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Class A |
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Class A |
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Class B |
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Series 1 |
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Series 2 |
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Series 1 |
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Series 1 |
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Series 2 |
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Series 1 |
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Per unit operating performance: |
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Beginning net asset value |
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$ |
5,742.95 |
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$ |
7,129.45 |
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$ |
5,742.69 |
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$ |
4,161.92 |
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$ |
5,102.36 |
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$ |
4,161.75 |
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Income/(loss) from investment operations: |
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. |
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Net investment income/(loss) |
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(37.37 |
) |
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(23.37 |
) |
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(37.38 |
) |
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(26.80 |
) |
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(17.09 |
) |
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(27.26 |
) |
Net realized gains/(losses) and change in
unrealized appreciation/(depreciation)
on trading activities |
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457.58 |
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569.05 |
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457.58 |
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514.91 |
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633.36 |
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|
515.33 |
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Total income/(loss) from investment
operations |
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420.21 |
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545.68 |
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420.20 |
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488.11 |
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616.27 |
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488.07 |
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Ending net asset value |
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$ |
6,163.16 |
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$ |
7,675.13 |
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$ |
6,162.89 |
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$ |
4,650.03 |
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$ |
5,718.63 |
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$ |
4,649.82 |
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Ratios to average limited partners' capital 1: |
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Total expenses excluding incentive fees |
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6.13 |
% |
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4.87 |
% |
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6.13 |
% |
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6.21 |
% |
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5.12 |
% |
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6.31 |
% |
Incentive fees |
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- |
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- |
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- |
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- |
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- |
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- |
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Total expenses including incentive fees |
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6.13 |
% |
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4.87 |
% |
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6.13 |
% |
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6.21 |
% |
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5.12 |
% |
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6.31 |
% |
Net investment income/(loss) |
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(2.54 |
)% |
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(1.28 |
)% |
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(2.54 |
)% |
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(2.50 |
)% |
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(1.30 |
)% |
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(2.55 |
)% |
Total return2: |
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Total return before incentive fees |
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7.32 |
% |
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7.65 |
% |
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7.32 |
% |
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11.73 |
% |
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12.08 |
% |
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11.73 |
% |
Incentive fees |
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- |
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- |
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- |
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- |
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- |
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- |
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Total return after incentive fees |
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7.32 |
% |
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7.65 |
% |
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7.32 |
% |
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11.73 |
% |
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12.08 |
% |
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11.73 |
% |
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For the nine months ended September 30, 2026 |
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For the nine months ended September 30, 2025 |
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Class A |
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Class A |
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Class B |
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Class A |
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Class A |
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Class B |
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Series 1 |
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Series 2 |
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Series 1 |
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Series 1 |
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Series 2 |
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Series 1 |
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Per unit operating performance: |
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Beginning net asset value |
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$ |
5,134.05 |
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$ |
6,333.74 |
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$ |
5,133.83 |
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$ |
4,868.88 |
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$ |
5,931.78 |
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$ |
4,868.67 |
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Income/(loss) from investment operations: |
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Net investment income/(loss) |
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(98.38 |
) |
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(54.12 |
) |
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(98.32 |
) |
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(60.01 |
) |
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(25.40 |
) |
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(60.93 |
) |
Net realized gains/(losses) and change in
unrealized appreciation/(depreciation)
on trading activities |
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1,127.49 |
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1,395.51 |
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1,127.38 |
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(158.84 |
) |
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(187.75 |
) |
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(157.92 |
) |
Total income/(loss) from investment
operations |
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1,029.11 |
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1,341.39 |
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1,029.06 |
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(218.85 |
) |
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(213.15 |
) |
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(218.85 |
) |
Ending net asset value |
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$ |
6,163.16 |
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$ |
7,675.13 |
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$ |
6,162.89 |
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$ |
4,650.03 |
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$ |
5,718.63 |
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$ |
4,649.82 |
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Ratios to average limited partners' capital1: |
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Total expenses excluding incentive fees |
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5.88 |
% |
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4.56 |
% |
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5.87 |
% |
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5.70 |
% |
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4.56 |
% |
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5.78 |
% |
Incentive fees |
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- |
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- |
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- |
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- |
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- |
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- |
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Total expenses including incentive fees |
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5.88 |
% |
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4.56 |
% |
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5.87 |
% |
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5.70 |
% |
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4.56 |
% |
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5.78 |
% |
Net investment income/(loss) |
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(2.30 |
)% |
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(1.02 |
)% |
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(2.30 |
)% |
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(1.82 |
)% |
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(0.63 |
)% |
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(1.85 |
)% |
Total return2: |
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Total return before incentive fees |
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20.04 |
% |
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21.18 |
% |
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20.04 |
% |
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(4.49 |
)% |
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(3.59 |
)% |
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(4.50 |
)% |
Incentive fees |
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- |
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- |
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- |
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- |
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- |
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- |
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Total return after incentive fees |
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20.04 |
% |
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21.18 |
% |
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20.04 |
% |
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(4.49 |
)% |
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(3.59 |
)% |
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(4.50 |
)% |
1 Includes amounts allocated from the Trading Company. Ratios have been annualized. 2 Total return is for the period indicated and has not been annualized.
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| Ratios to Average Partners' Capital and Other Information |
The following represents the ratios to average partners’ capital and other information for the three and nine month periods ended September 30, 2026 and 2025:
|
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For the three months ended September 30, |
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For the nine months ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Per unit operating performance: |
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Beginning net asset value |
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$ |
36,495.89 |
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$ |
25,123.99 |
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$ |
31,843.46 |
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$ |
28,670.91 |
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Income/(loss) from investment operations: |
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Net investment income/(loss) |
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271.15 |
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|
233.24 |
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|
779.05 |
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|
651.13 |
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Net realized gains/(losses) and change in unrealized
appreciation/(depreciation) on trading activities and translation
of foreign currency |
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2,916.12 |
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3,118.60 |
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7,060.65 |
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(846.21 |
) |
Total income/(loss) from investment operations |
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3,187.27 |
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3,351.84 |
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7,839.70 |
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(195.08 |
) |
Ending net asset value |
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$ |
39,683.16 |
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$ |
28,475.83 |
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$ |
39,683.16 |
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$ |
28,475.83 |
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Ratios to average partners' capital: (1) |
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Expenses |
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0.70 |
% |
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0.17 |
% |
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0.68 |
% |
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|
0.61 |
% |
Net investment income/(loss) |
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2.89 |
% |
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3.59 |
% |
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2.88 |
% |
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3.30 |
% |
Total return (2) |
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8.73 |
% |
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13.34 |
% |
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|
24.62 |
% |
|
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(0.68 |
)% |
(1) Ratios have been annualized. (2) Total return is for the period indicated and has not been annualized.
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