The beginning balance of Short Portfolio 38N is the ending balance of Short Portfolio 38M as of December 27, 2013.

The beginning balance of Short Portfolio 38M is the ending balance of Short Portfolio 38L as of December 20, 2013.

The beginning balance of Short Portfolio 38L is the ending balance of Short Portfolio 38K as of December 13, 2013.

The beginning balance of Short Portfolio 38K is the ending balance of Short Portfolio 38J as of December 6, 2013.

The beginning balance of Short Portfolio 38J is the ending balance of Short Portfolio 38I as of November 29, 2013.

The beginning balance of Short Portfolio 38I is the ending balance of Short Portfolio 38H as of November 22, 2013.

The beginning balance of Short Portfolio 38H is the ending balance of Short Portfolio 38G as of November 15, 2013.

The beginning balance of Short Portfolio 38G is the ending balance of Short Portfolio 38F as of November 8, 2013.

The beginning balance of Short Portfolio 38F is the ending balance of Short Portfolio 38E as of November 1, 2013.

The beginning balance of Short Portfolio 38E is the ending balance of Short Portfolio 38D as of October 25, 2013.

The beginning balance of Short Portfolio 38D is the ending balance of Short Portfolio 38C as of October 18, 2013.

The beginning balance of Short Portfolio 38C is the ending balance of Short Portfolio 38B as of October 11, 2013.

The beginning balance of Short Portfolio 38B is the ending balance of Short Portfolio 38A as of October 4, 2013.

The beginning balance of Short Portfolio 38A is 80% of fund equity as of September 30, 2013.