3/18 Date: Thu, 20 Mar 2014 16:47:16 +0000 Attachments: Atorus_BacktestNAV_031714.pdf; Atorus_BacktestNAV_031814.pdf Lesley, Please see attached Daily Portfolio Reports for 3/17 & 3/18. Daily Commentary In order to provide deeper understanding of our methodology we wanted to point out an interesting market developm

2/10 Date: Wed, 12 Feb 2014 00:54:25 +0000 Attachments: Atorus_BacktestNAV_021014.pdf; Atorus_BacktestNAV_020714.pdf Lesley, Please see attached Daily Portfolio Reports for 2/7 & 2/10. Daily Commentary: "The Shape Factor and Median of the CDF of Vol Day Returns in the Opportunity Set" The main driver of returns of

y 11, 2014, 7:54:25 PM EST To: Lesley Groff < <mailto■ Subject: ATours - Daily Portfolio Report 2/7 & 2/10 > > > > Lesley, Please see attached Daily Portfolio Reports for 2/7 & 2/10. Daily Commentary: "The Shape Factor and Median of the CDF of Vol Day Returns in the Opportunity Set" The main driver of returns of

=r> Over the past few months, we've seen minimal true thematic cha=ges in portfolio exposures (ex- biotech/healthcare monetization), and as suc= our Daily Portfolio Reports may appear somewhat anti climatic. We wa=ted to provide some context versus previous time. Attached is the large MTM=gains and exposures by position