Altegris Clearing Solutions M&R Capital, LLC Discretionary Futures Trading Program
Monthly Performance (%)
Date Range: 04/14 - 10/17
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2017 4.22 3.13 0.78 1.04 -10.92 2.63 1.49 -0.56 5.42 4.08 10.80
2016 -12.40 3.82 1.74 -3.99 14.10 -3.43 2.46 -5.85 -3.15 1.10 11.47 0.80 3.89
2015 28.26 -6.43 4.96 9.06 -5.74 2.53 -1.55 7.37 -10.30 8.25 -13.88 4.60 22.76
2014 1.53 -0.73 9.59 8.67 17.38 9.13 -3.27 15.20 71.33
Note: Estimates appear in italics. All performance data is since program inception.
Strategy Description

M&R Capital, LLC (M&R), a registered Commodity Trading Advisor, primarily trades regulated livestock related futures and options. M&R has been registered since January 2015. Trading Ideas and execution are initiated by Scott Shepard, the trading principal. Scott started his career on the Chicago Mercantile Exchange trading floor over 20 years ago. He began as a livestock analyst, ending as a full CME member, floor manager, and senior livestock analyst at the largest private commercial entity in the industry. In 2005, another large commercial livestock interest recruited Scott to direct hedging and risk manangement. Controlling a dynamic portfolio of futures and options. Scott was responsible for all livestock positions for the firm. He gained considerable knowledge using options as a means to mitigate risks. Scott fundamental trader. His experience in the cash markets, on the floor, with meat packers and industry institutions helps to mold his perspective. The unique knowledge base enables Scotts to forecast US and international meat and livestock supply and demand. Scott's fundamental analysis also includes constant monitoring of commodity consumption, global weather, currency trends, political issues, and other market factors. Scott applies all of these elements into his trading in which positiions include long or short futures, options, and spreads. M&R and Scott Shepard are registered with the Commodity Futures Trading Commision (CFTC) and are members of the National Futures Association (NFA).

Performance Statistics
Date Range: 04/14 - 10/17
  Program SP500 TR Altegris 40
Total Return 142.10% 48.27% 16.04%
Annualized Return 28.74% 11.62% 4.24%
Annualized Std. Deviation 28.10% 9.47% 8.99%
Correlation -0.01 -0.04
Sharpe Ratio (rf=2.5%) 0.93 0.96 0.19
Worst Month -13.88% -6.03% -5.20%
Date of Worst Month 11/2015 08/2015 06/2015
Worst Drawdown -23.38% -8.35% -12.85%
Date of Worst Drawdown 8/15 - 1/16 7/15 - 9/15 3/15 - 9/17
Note: Estimates appear in italics. All performance data is since program inception.
Annual Performance (%)
Date Range: 04/14 - 10/17
Year or YTD Program SP500 TR Altegris 40
2017 10.80 16.92 0.02
2016 3.89 11.98 -3.13
2015 22.76 1.41 0.09
2014 71.33 10.86 18.75
Note: Estimates appear in italics. All performance data is since program inception.
Performance Comparison
Date Range: 04/14 - 10/17
Date: 10/31/2017
Perf: $1,151.61 Date: 9/30/2017
Perf: $1,105.30 Date: 8/31/2017
Perf: $1,129.12 Date: 7/31/2017
Perf: $1,110.68 Date: 6/30/2017
Perf: $1,106.37 Date: 5/31/2017
Perf: $1,139.65 Date: 4/30/2017
Perf: $1,137.49 Date: 3/31/2017
Perf: $1,144.35 Date: 2/28/2017
Perf: $1,161.31 Date: 1/31/2017
Perf: $1,136.53 Date: 12/31/2016
Perf: $1,151.38 Date: 11/30/2016
Perf: $1,142.70 Date: 10/31/2016
Perf: $1,155.41 Date: 9/30/2016
Perf: $1,186.01 Date: 8/31/2016
Perf: $1,201.51 Date: 7/31/2016
Perf: $1,234.72 Date: 6/30/2016
Perf: $1,222.25 Date: 5/31/2016
Perf: $1,172.43 Date: 4/30/2016
Perf: $1,193.31 Date: 3/31/2016
Perf: $1,224.03 Date: 2/29/2016
Perf: $1,260.20 Date: 1/31/2016
Perf: $1,229.94 Date: 12/31/2015
Perf: $1,188.58 Date: 11/30/2015
Perf: $1,216.56 Date: 10/31/2015
Perf: $1,176.45 Date: 9/30/2015
Perf: $1,197.28 Date: 8/31/2015
Perf: $1,171.85 Date: 7/31/2015
Perf: $1,192.48 Date: 6/30/2015
Perf: $1,147.61 Date: 5/31/2015
Perf: $1,210.56 Date: 4/30/2015
Perf: $1,219.34 Date: 3/31/2015
Perf: $1,268.29 Date: 2/28/2015
Perf: $1,240.87 Date: 1/31/2015
Perf: $1,242.86 Date: 12/31/2014
Perf: $1,187.52 Date: 11/30/2014
Perf: $1,166.98 Date: 10/31/2014
Perf: $1,101.44 Date: 9/30/2014
Perf: $1,085.49 Date: 8/31/2014
Perf: $1,069.55 Date: 7/31/2014
Perf: $1,026.14 Date: 6/30/2014
Perf: $1,034.42 Date: 5/31/2014
Perf: $1,025.60 Date: 4/30/2014
Perf: $1,000.00 Date: 10/31/2017
Perf: $1,471.85 Date: 9/30/2017
Perf: $1,438.34 Date: 8/31/2017
Perf: $1,409.31 Date: 7/31/2017
Perf: $1,404.95 Date: 6/30/2017
Perf: $1,376.59 Date: 5/31/2017
Perf: $1,368.11 Date: 4/30/2017
Perf: $1,349.09 Date: 3/31/2017
Perf: $1,335.34 Date: 2/28/2017
Perf: $1,333.74 Date: 1/31/2017
Perf: $1,282.81 Date: 12/31/2016
Perf: $1,258.89 Date: 11/30/2016
Perf: $1,234.45 Date: 10/31/2016
Perf: $1,190.40 Date: 9/30/2016
Perf: $1,212.47 Date: 8/31/2016
Perf: $1,212.23 Date: 7/31/2016
Perf: $1,210.53 Date: 6/30/2016
Perf: $1,167.45 Date: 5/31/2016
Perf: $1,164.43 Date: 4/30/2016
Perf: $1,143.84 Date: 3/31/2016
Perf: $1,139.39 Date: 2/29/2016
Perf: $1,067.05 Date: 1/31/2016
Perf: $1,068.44 Date: 12/31/2015
Perf: $1,124.20 Date: 11/30/2015
Perf: $1,142.24 Date: 10/31/2015
Perf: $1,138.83 Date: 9/30/2015
Perf: $1,050.19 Date: 8/31/2015
Perf: $1,076.79 Date: 7/31/2015
Perf: $1,145.88 Date: 6/30/2015
Perf: $1,122.32 Date: 5/31/2015
Perf: $1,144.52 Date: 4/30/2015
Perf: $1,129.94 Date: 3/31/2015
Perf: $1,119.20 Date: 2/28/2015
Perf: $1,137.17 Date: 1/31/2015
Perf: $1,075.33 Date: 12/31/2014
Perf: $1,108.59 Date: 11/30/2014
Perf: $1,111.37 Date: 10/31/2014
Perf: $1,082.26 Date: 9/30/2014
Perf: $1,056.48 Date: 8/31/2014
Perf: $1,071.48 Date: 7/31/2014
Perf: $1,030.27 Date: 6/30/2014
Perf: $1,044.69 Date: 5/31/2014
Perf: $1,023.50 Date: 4/30/2014
Perf: $1,000.00 Date: 10/31/2017
Perf: $2,420.99 Date: 9/30/2017
Perf: $2,326.09 Date: 8/31/2017
Perf: $2,206.50 Date: 7/31/2017
Perf: $2,218.92 Date: 6/30/2017
Perf: $2,186.35 Date: 5/31/2017
Perf: $2,130.32 Date: 4/30/2017
Perf: $2,391.47 Date: 3/31/2017
Perf: $2,366.85 Date: 2/28/2017
Perf: $2,348.53 Date: 1/31/2017
Perf: $2,277.25 Date: 12/31/2016
Perf: $2,185.05 Date: 11/30/2016
Perf: $2,167.70 Date: 10/31/2016
Perf: $1,944.65 Date: 9/30/2016
Perf: $1,923.49 Date: 8/31/2016
Perf: $1,986.05 Date: 7/31/2016
Perf: $2,109.46 Date: 6/30/2016
Perf: $2,058.81 Date: 5/31/2016
Perf: $2,131.94 Date: 4/30/2016
Perf: $1,868.48 Date: 3/31/2016
Perf: $1,946.13 Date: 2/29/2016
Perf: $1,912.85 Date: 1/31/2016
Perf: $1,842.47 Date: 12/31/2015
Perf: $2,103.27 Date: 11/30/2015
Perf: $2,010.78 Date: 10/31/2015
Perf: $2,334.85 Date: 9/30/2015
Perf: $2,156.91 Date: 8/31/2015
Perf: $2,404.58 Date: 7/31/2015
Perf: $2,239.53 Date: 6/30/2015
Perf: $2,274.79 Date: 5/31/2015
Perf: $2,218.65 Date: 4/30/2015
Perf: $2,353.76 Date: 3/31/2015
Perf: $2,158.22 Date: 2/28/2015
Perf: $2,056.24 Date: 1/31/2015
Perf: $2,197.54 Date: 12/31/2014
Perf: $1,713.35 Date: 11/30/2014
Perf: $1,487.28 Date: 10/31/2014
Perf: $1,537.56 Date: 9/30/2014
Perf: $1,408.92 Date: 8/31/2014
Perf: $1,200.31 Date: 7/31/2014
Perf: $1,104.54 Date: 6/30/2014
Perf: $1,007.89 Date: 5/31/2014
Perf: $1,015.30 Date: 4/30/2014
Perf: $1,000.00
Note: All performance data is since program inception.

Monthly Returns
Date Range: 04/14 - 10/17
Date: 10/31/2017
Return: 4.08 % Date: 9/30/2017
Return: 5.42 % Date: 8/31/2017
Return: -0.56 % Date: 7/31/2017
Return: 1.49 % Date: 6/30/2017
Return: 2.63 % Date: 5/31/2017
Return: -10.92 % Date: 4/30/2017
Return: 1.04 % Date: 3/31/2017
Return: 0.78 % Date: 2/28/2017
Return: 3.13 % Date: 1/31/2017
Return: 4.22 % Date: 12/31/2016
Return: 0.80 % Date: 11/30/2016
Return: 11.47 % Date: 10/31/2016
Return: 1.10 % Date: 9/30/2016
Return: -3.15 % Date: 8/31/2016
Return: -5.85 % Date: 7/31/2016
Return: 2.46 % Date: 6/30/2016
Return: -3.43 % Date: 5/31/2016
Return: 14.10 % Date: 4/30/2016
Return: -3.99 % Date: 3/31/2016
Return: 1.74 % Date: 2/29/2016
Return: 3.82 % Date: 1/31/2016
Return: -12.40 % Date: 12/31/2015
Return: 4.60 % Date: 11/30/2015
Return: -13.88 % Date: 10/31/2015
Return: 8.25 % Date: 9/30/2015
Return: -10.30 % Date: 8/31/2015
Return: 7.37 % Date: 7/31/2015
Return: -1.55 % Date: 6/30/2015
Return: 2.53 % Date: 5/31/2015
Return: -5.74 % Date: 4/30/2015
Return: 9.06 % Date: 3/31/2015
Return: 4.96 % Date: 2/28/2015
Return: -6.43 % Date: 1/31/2015
Return: 28.26 % Date: 12/31/2014
Return: 15.20 % Date: 11/30/2014
Return: -3.27 % Date: 10/31/2014
Return: 9.13 % Date: 9/30/2014
Return: 17.38 % Date: 8/31/2014
Return: 8.67 % Date: 7/31/2014
Return: 9.59 % Date: 6/30/2014
Return: -0.73 % Date: 5/31/2014
Return: 1.53 % Date: 4/30/2014
Return: 0.00 %
Note: All performance data is since program inception.

Distribution of Monthly Returns
Date Range: 04/14 - 10/17
Return: -11.00 %
Count: 1 Return: 11.00 %
Count: 1 Return: 1.00 %
Count: 5 Return: 14.00 %
Count: 1 Return: -4.00 %
Count: 1 Return: 4.00 %
Count: 3 Return: -12.00 %
Count: 1 Return: -14.00 %
Count: 1 Return: 8.00 %
Count: 1 Return: -10.00 %
Count: 1 Return: 7.00 %
Count: 1 Return: -2.00 %
Count: 1 Return: 3.00 %
Count: 3 Return: 5.00 %
Count: 3 Return: -6.00 %
Count: 3 Return: 28.00 %
Count: 1 Return: 15.00 %
Count: 1 Return: -3.00 %
Count: 3 Return: 17.00 %
Count: 1 Return: 9.00 %
Count: 3 Return: 10.00 %
Count: 1 Return: -1.00 %
Count: 2 Return: 2.00 %
Count: 3 Return: 0.00 %
Count: 1
Note: All performance data is since program inception.

Underwater Curve
Date Range: 04/14 - 10/17
Date: 10/31/2017
Drawdown: 0.00 % Date: 9/30/2017
Drawdown: -3.26 % Date: 8/31/2017
Drawdown: -8.24 % Date: 7/31/2017
Drawdown: -7.72 % Date: 6/30/2017
Drawdown: -9.08 % Date: 5/31/2017
Drawdown: -11.41 % Date: 4/30/2017
Drawdown: -0.55 % Date: 3/31/2017
Drawdown: -1.57 % Date: 2/28/2017
Drawdown: -2.33 % Date: 1/31/2017
Drawdown: -5.30 % Date: 12/31/2016
Drawdown: -9.13 % Date: 11/30/2016
Drawdown: -9.85 % Date: 10/31/2016
Drawdown: -19.13 % Date: 9/30/2016
Drawdown: -20.01 % Date: 8/31/2016
Drawdown: -17.41 % Date: 7/31/2016
Drawdown: -12.27 % Date: 6/30/2016
Drawdown: -14.38 % Date: 5/31/2016
Drawdown: -11.34 % Date: 4/30/2016
Drawdown: -22.29 % Date: 3/31/2016
Drawdown: -19.07 % Date: 2/29/2016
Drawdown: -20.45 % Date: 1/31/2016
Drawdown: -23.38 % Date: 12/31/2015
Drawdown: -12.53 % Date: 11/30/2015
Drawdown: -16.38 % Date: 10/31/2015
Drawdown: -2.90 % Date: 9/30/2015
Drawdown: -10.30 % Date: 8/31/2015
Drawdown: 0.00 % Date: 7/31/2015
Drawdown: -4.85 % Date: 6/30/2015
Drawdown: -3.36 % Date: 5/31/2015
Drawdown: -5.74 % Date: 4/30/2015
Drawdown: 0.00 % Date: 3/31/2015
Drawdown: -1.79 % Date: 2/28/2015
Drawdown: -6.43 % Date: 1/31/2015
Drawdown: 0.00 % Date: 12/31/2014
Drawdown: 0.00 % Date: 11/30/2014
Drawdown: -3.27 % Date: 10/31/2014
Drawdown: 0.00 % Date: 9/30/2014
Drawdown: 0.00 % Date: 8/31/2014
Drawdown: 0.00 % Date: 7/31/2014
Drawdown: 0.00 % Date: 6/30/2014
Drawdown: -0.73 % Date: 5/31/2014
Drawdown: 0.00 %
Note: All performance data is since program inception.
Notes to Performance

Manager Information
Manager Name:  M&R Capital, LLC
Address: 90147 Poplar Ave, Cuite 101
City: Germantown
State: TN
Zip: 38138
Country: United States
Key People

Employee information is not available.
Additional Information

The Program Performance information presented in this and other areas of the www.managedfutures.com website was prepared by Altegris Clearing Solutions, LLC, an affiliate within the Altegris Group of Companies, based upon information provided by each respective manager of commodity futures and foreign currency trading programs tracked by Altegris Clearing Solutions and its affiliates. The Program Performance information does not contain opinion or analysis of Altegris Clearing Solutions or any of its affiliates, and the completeness and accuracy of performance information reported to Altegris Clearing Solutions cannot in all cases be independently verified. See “Additional Information” at the end of this page for further details regarding the presentation of performance. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.