Whitmore Capital LP

Year-to-Date

-8.65%

May	-0.24%

Minimum Investment	$250k
Management Fee	0.99%
Performance Fee	10.00%

Annualized Volatility	26.63%
Sharpe (RFR=1%)	0.03
CAROR	-1.81%

AUM	$5.5M
Worst Drawdown	-49.49
S&P Correlation	-0.19

Growth of $1,000 — VAMI

Monthly Performance

Export Data

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	YTD	DD
2021	1.33	-3.65	1.66	-7.74	-0.24								-8.65	-9.85
2020	2.18	9.43	11.96	6.96	-3.78	-5.71	-14.09	-2.86	-0.08	-2.93	-10.69	1.40	-10.95	-34.41
2019	-9.41	2.80	12.44	2.34	5.88	-1.52	2.81	-0.05	0.64	-10.50	2.83	-4.19	1.89	-11.82
2018	-9.27	8.26	-4.10	-4.03	7.93	4.09	-7.80	-4.98	-5.46	6.50	7.89	0.45	-2.91	-17.17
2017	-9.50	5.90	14.28	3.49	2.91	-8.78	-9.40	7.91	-4.93	15.33	0.97	-1.43	13.52	-17.35
2016	0.70	4.97	-7.35	0.82	2.94	-5.00	2.16	-3.30	6.56	7.85	-16.07	6.78	-1.75	-16.07
2015	5.10	10.50	13.27	11.42	6.36	-10.30	-2.55	-12.09	0.23	-7.30	-3.67	-7.05	-0.34	-36.07
2014	-2.81	-5.01	0.60	-6.07	5.32	-8.67	1.05	12.02	9.23	-5.54	-8.55	-34.02	-40.87	-43.00
2013	14.22	-2.95	-4.94	3.76	1.67	1.12	4.06	1.58	-8.64	6.25	-6.85	7.32	15.30	-9.58
2012						3.91	-2.21	3.06	9.15	4.50	5.62	10.25	39.09	-2.21

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange (“forex”) is substantial.

Period Returns

Program / Index	May	Qtr	YTD	1yr	3yr	5yr	10yr	Since 5/2012
Whitmore Capital LP	-0.24	—	-8.65	-19.70	-4.33	-11.70	—	-15.17
S&P 500	0.55	-2.17	15.56	29.07	48.94	98.15	—	223.61
+/- S&P 500	-0.79	2.17	-24.21	-48.76	-53.28	-109.85	—	-238.77

Strategy

Fundamental	100.00%

Composition

Currency FX	50.00%
Currency Futures	50.00%

Account & Fees

Type	Fund
Minimum Investment	$250k
Management Fee	0.99%
Performance Fee	10.00%
Available to US Investors	Yes
Investor Requirements	Accredited Investors
High Water Mark	yes
Subscription Frequency	15-30 Days
Redemption Frequency	15-30 Days

Decision-Making

Systematic	0.00%
Discretionary	100.00%

Trading

Trading Frequency	0 RT/YR/$M
Avg. Margin-Equity Ratio
Targeted Worst DD	0.00%
Worst Peak-to-Trough	18.57%
Sector Focus	Currency Traders

Holding Periods

Over 12 Months	0.00%
4-12 Months	0.00%
1-3 Months	0.00%
1-30 Days	0.00%
Intraday	0.00%

Summary

The Partnership’s investment objective is to achieve long-term returns superior to the Dow Jones Credit Suisse Hedge Fund Index. The Partnership seeks to achieve this objective through the application of a proprietary foreign exchange investing program developed by the General Partner. The Partnership exclusively invests in currency markets, employing a proprietary calculus that identifies intrinsic value ranges for currencies, seeking to identify when large valuation discrepancies arise, and investing the Partnership’s assets accordingly.

Investment Strategy

The Partnership offers investors access to a proprietary foreign exchange investing program developed by the General Partner. This program focuses on cash currencies but may also include currency options and forwards.

All investment research is predicated on a top-down analysis of the global economy. Having established which sectors and countries have the greatest prospects for asset price appreciation (in the case of long opportunities) or depreciation (in the case of short opportunities), quantitative and qualitative analyses are used to identify specific investments.

At the very core of the investing program is a mathematical model developed by the General Partner. This proprietary calculus for determining the “fair value” of cross-currency rates has consistently identified long-term opportunities to profit from temporary currency market mispricing. The outcome of these quantitative analyses are supplemented by qualitative analyses of the circumstances surrounding each currency class to determine the configuration of the portfolio itself. Finally, sentiment indicators are reviewed as an additional analytical overlay. Currency pairs traded for the Partnership’s account include, but are not limited to, the following: EUR/USD, USD/JPY, GBP/USD, USD/CHF, EUR/CHF, AUD/USD, USD/CAD, NZD/USD, EUR/GBP, EUR/JPY, GBP/JPY, CHF/JPY, GBP/CHF, EUR/AUD, EUR/CAD, AUD/CAD, AUD/JPY, CAD/JPY, NZD/JPY, GBP/CAD, GBP/NZD, GBP/AUD, AUD/NZD, USD/SEK, USD/DKK, EUR/SEK, EUR/NOK, USD/NOK, USD/MXN, AUD/CHF, EUR/NZD, EUR/PLN, USD/PLN, EUR/CZK, USD/ZAR, USD/SGD, USD/HKD, EUR/DKK, GBP/SEK, NOK/JPY, SEK/JPY, SGD/JPY, HKD/JPY, ZAR/JPY, USD/TRY, EUR/TRY, NZD/CHF, CAD/CHF, NZD/CAD, CHF/SEK, CHF/NOK, USD/RUB, EUR/HUF, USD/HUF, TRY/JPY, USD/ILS.

AUM & Cumulative Returns

Distribution

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange (“forex”) is substantial.

Reward	Whitmore Capital Management LLC Whitmore Capital LP
Average RoR	0.16%
Max Gain	15.33%
Gain Frequency	55.56%
Average Gain	5.58%
Gain Deviation	4.08%
Risk
Standard Deviation	7.69%
Worst Loss	-34.02%
Loss Frequency	44.44%
Average Loss	-6.63%
Loss Deviation	5.39%
Reward/Risk
Sharpe (RFR=1%)	0.01
Skewness	-0.74
Kurtosis	2.42

Reward	Whitmore Capital Management LLC Whitmore Capital LP
Compound RoR	-1.81%
Average RoR	0.48%
Max Gain	39.09%
Gain Frequency	39.81%
Average Gain	19.48%
Gain Deviation	14.13%
Risk
Standard Deviation	26.63%
Worst Loss	-40.87%
Loss Frequency	60.19%
Average Loss	-12.09%
Loss Deviation	18.68%
Reward/Risk
Sharpe (RFR=1%)	0.03
Skewness	-0.08
Kurtosis	-1.78

Compare To

or

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange (“forex”) is substantial.
Note: Figures shown in the Monthly column are the greatest figures (or worst for losses/drawdowns) for any particular month. The Annual figures are the greatest for any calendar year.

Drawdown Report

Depth	Length (Months)	Recovery (Months)	Peak	Valley
-49.49	28	—	9/2014	1/2017
-18.57	10	3	8/2013	6/2014
-7.74	2	4	1/2013	3/2013
-2.21	1	1	6/2012	7/2012

Consecutive Gains

Run-up	Length (Months)	Start	End
56.35	6	8/2012	1/2013
55.89	5	1/2015	5/2015
33.90	4	1/2020	4/2020
28.89	4	2/2017	5/2017
25.25	4	2/2019	5/2019
23.64	3	7/2014	9/2014
16.45	2	10/2017	11/2017
15.42	3	10/2018	12/2018
14.92	2	9/2016	10/2016
12.76	5	4/2013	8/2013
12.34	2	5/2018	6/2018
8.26	1	2/2018	2/2018
7.91	1	8/2017	8/2017
7.32	1	12/2013	12/2013
6.78	1	12/2016	12/2016
6.25	1	10/2013	10/2013
5.70	2	1/2016	2/2016
5.32	1	5/2014	5/2014
3.91	1	6/2012	6/2012
3.78	2	4/2016	5/2016
2.83	1	11/2019	11/2019
2.81	1	7/2019	7/2019
2.75	2	12/2020	1/2021
2.16	1	7/2016	7/2016
1.66	1	3/2021	3/2021
0.64	1	9/2019	9/2019
0.60	1	3/2014	3/2014
0.23	1	9/2015	9/2015

Consecutive Losses

Run-up	Length (Months)	Start	End
-43.00	3	10/2014	12/2014
-34.41	7	5/2020	11/2020
-23.16	3	6/2015	8/2015
-17.35	2	6/2017	7/2017
-17.17	3	7/2018	9/2018
-17.00	3	10/2015	12/2015
-16.07	1	11/2016	11/2016
-10.57	2	12/2017	1/2018
-10.50	1	10/2019	10/2019
-9.50	1	1/2017	1/2017
-9.41	1	1/2019	1/2019
-8.67	1	6/2014	6/2014
-8.64	1	9/2013	9/2013
-7.96	2	3/2018	4/2018
-7.96	2	4/2021	5/2021
-7.74	2	2/2013	3/2013
-7.68	2	1/2014	2/2014
-7.35	1	3/2016	3/2016
-6.85	1	11/2013	11/2013
-6.07	1	4/2014	4/2014
-5.00	1	6/2016	6/2016
-4.93	1	9/2017	9/2017
-4.19	1	12/2019	12/2019
-3.65	1	2/2021	2/2021
-3.30	1	8/2016	8/2016
-2.21	1	7/2012	7/2012
-1.52	1	6/2019	6/2019
-0.05	1	8/2019	8/2019

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange (“forex”) is substantial.

Top Performer Badges

Index	Award Type	Rank	Performance	Period
Discretionary Trader Index	Month	5	7.18	4/2020
Discretionary Trader Index	Month	5	12.24	3/2020
Discretionary Trader Index	Month	2	9.62	2/2020
IASG CTA Index	Month	10	9.62	2/2020
Discretionary Trader Index	Month	3	2.83	11/2019
Discretionary Trader Index	Month	4	2.92	7/2019
Discretionary Trader Index	Month	3	6.06	5/2019
IASG CTA Index	Month	10	6.06	5/2019
Discretionary Trader Index	Month	8	2.35	4/2019
Discretionary Trader Index	Month	2	12.45	3/2019
IASG CTA Index	Month	7	12.45	3/2019
Discretionary Trader Index	Month	4	2.80	2/2019
Discretionary Trader Index	Month	2	7.89	11/2018
IASG CTA Index	Month	3	7.89	11/2018
Discretionary Trader Index	Month	3	6.50	10/2018
IASG CTA Index	Month	7	6.50	10/2018
Discretionary Trader Index	Month	4	4.09	6/2018
Discretionary Trader Index	Month	1	7.93	5/2018
IASG CTA Index	Month	2	7.93	5/2018
Discretionary Trader Index	Month	1	8.26	2/2018
IASG CTA Index	Month	3	8.26	2/2018
Discretionary Trader Index	Month	1	15.33	10/2017
IASG CTA Index	Month	3	15.33	10/2017
Discretionary Trader Index	Month	4	7.91	8/2017
IASG CTA Index	Month	7	7.91	8/2017
Discretionary Trader Index	Month	10	2.91	5/2017
Discretionary Trader Index	Month	5	3.49	4/2017
IASG CTA Index	Month	10	3.49	4/2017
IASG CTA Index	Month	1	14.28	3/2017
Discretionary Trader Index	Month	1	14.28	3/2017
Discretionary Trader Index	Month	1	5.90	2/2017
IASG CTA Index	Month	5	5.90	2/2017
IASG CTA Index	Month	2	6.78	12/2016
Discretionary Trader Index	Month	2	6.78	12/2016
IASG CTA Index	Month	2	7.85	10/2016
Discretionary Trader Index	Month	3	7.85	10/2016
Discretionary Trader Index	Month	4	6.56	9/2016
IASG CTA Index	Month	6	6.56	9/2016
Discretionary Trader Index	Month	7	2.94	5/2016
Discretionary Trader Index	Month	4	4.97	2/2016
Discretionary Trader Index	Month	3	6.36	5/2015
IASG CTA Index	Month	5	6.36	5/2015
IASG CTA Index	Month	1	11.42	4/2015
Discretionary Trader Index	Month	1	11.42	4/2015
IASG CTA Index	Month	1	13.27	3/2015
Discretionary Trader Index	Month	1	13.27	3/2015
Discretionary Trader Index	Month	1	10.50	2/2015
IASG CTA Index	Month	5	10.50	2/2015

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange (“forex”) is substantial.

Get the Full Picture

Whitmore Capital Management LLC

Whitmore Capital LP

Year-to-Date

Annualized Vol

Sharpe (RFR=1%)

CAROR

Worst DD

S&P Correlation

Growth of $1,000 — VAMI

Monthly Performance

Period Returns

Strategy

Composition

Account & Fees

Decision-Making

Trading

Holding Periods