Ascent Capital Management CTA Report
Report Start Date: Jan-2020 - Report End Date: Apr-2025
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Revolution Capital Management LLC / Mosaic Institutional Program
Accepting New Investors: Yes
Short Term Systematic / Diversified
4.7 Exempt - Qualified Eligible Participants Only



Performance Since January 2020

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
20202.62% 8.26% 5.46% -0.92% 0.22% -2.24% 3.40% 0.61% -4.43% -2.31% 2.48% 1.80%
2021 -0.72% 2.60% 3.39% 1.75% -4.73% -2.60% -3.81% -2.76% 0.16% 3.29% -1.36% -1.13%
2022 1.72% -2.81% -0.15% 6.39% -0.31% 0.64% 2.14% -0.18% 4.16% -1.64% 1.04% -0.04%
2023 1.14% -2.16% -5.83% 0.35% -2.93% -2.57% -1.14% 0.01% -0.94% 1.06% -0.56% -1.07%
2024 1.27% -1.79% -1.24% 4.35% -0.19% -2.20% 0.89% 4.52% 1.08% -1.83% -3.94% 0.41%
2025 2.54% -1.02% 2.16% 4.43%  

 202020212022202320242025 YTD
ROR15.22%-6.16%11.17%-13.87%0.98%8.27%
Max DD-6.65%-13.21%-2.96%-14.85%-5.70%-1.02%

The Notes Below Are An Integral Part of this Report
| Track Record Compiled By: In-House

Program Description: Mosaic Institutional is an ensemble of 100% systematic, quantitative, short-term trading models that evaluate and modify positions daily. Mosaic Institutional utilizes a pattern-recognition methodology. The program targets a zero correlation to trend-following and exhibits low correlation with equities and other asset classes. Mosaic Institutional trades 52 global markets, and goes long or short with no bias. The program targets a 12% annualized standard deviation of returns.


Investment Information
Program Start Date Sep-2009
Minimum Investment 25,000,000
Management Fee 0.00%
Incentive Fee 25.00%
Margin 8%
Round Turns per Million 4,200
Currency US Dollar
NFA No: #0348297
Trading Strategy       Market Segment      

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 VAMI, AUM & Worst Drawdown (since Jan 2020)$900$100 $980$1,060$1,140$1,220$1,300$120 $140 $160 $180 $200 2021 2022 2023 2024 2025 $1,000 $1,236 $1,017 VAMIAssets in Millions Assets Under ManagementVAMI (Red Line Indicates Max Drawdown)

Program Statistics
Peak-to-Valley Drawdown (1) (Apr 2021 - Mar 2024) -17.65%
Worst Monthly Return (Mar 2023) -5.83%
Current Losing Streak -8.34%
Average Monthly Return 0.23%
Annualized Statistics
Annualized Compounded ROR (2) 2.35%
Standard Deviation 9.58%
Sharpe Ratio (4) 0.19
36 Month Calmar Ratio (3) -0.01

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. TRADING FUTURES AND OPTIONS INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS. THERE ARE NO GUARANTEES OF PROFIT. PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR DECISION TO INVEST SOLELY ON THE PAST PERFORMANCE PRESENTED HEREIN.

Ascent Capital Management
311 S. Wacker Drive - Suite 600 * Chicago, IL 60606
Office: 312-283-3350 Email: info@ascentcm.com | Web Address: http://www.ascentcm.com


Ascent Capital Management CTA Report
Report Start Date: Jan-2020 - Report End Date: Apr-2025
Please wait for your Report to Fully Load Print to PDF




Time Window Analysis
Length Best Average Worst
1 mo 8.3% 0.2% -5.8%
3 mo 17.2% 0.3% -10.7%
6 mo 14.6% -0.1% -13.6%
12 mo 15.2% -0.8% -14%
18 mo 14.6% -2.6% -16%
24 mo 8.1% -3.6% -13.4%
36 mo 20.2% -3.8% -16.2%
Historical Drawdown and Recoveries***
Start Depth Length Recovery End
May-21 -17.66% 35 mo 13 mo n/a
Sep-20 -6.64% 2 mo 5 mo Mar-21
Apr-20 -2.93% 3 mo 1 mo Jul-20


Comparisons                                        ProgramAG CTA Index SP 500 TR
Annualized Compound ROR 2.35%4.75%12.49%
Cumulative Return 13.18%28.09%87.35%
Cumulative VAMI (5) 113212811874
Largest Monthly Gain 8.26%2.99%12.82%
Largest Monthly Loss -5.83%-1.27%-12.35%
Correlation 0.223-0.267
Last 12 Months 6.67%-1.45%12.11%
Last 36 Months -0.33%5.88%41.17%

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Growth of $1,000 VAMI - Program vs. Benchmarks (since Jan 2020)$0$600$1,200$1,800$2,400$3,000 2021 2022 2023 2024 2025 $1,000 VAMI ProgramAG CTA IndexSP 500 TR

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Monthly Returns (since Jan 2020)-8%-4%4%8%12%2020 2021 2022 2023 2024 2025 0% Month/Year
< -10-10 to -8-8 to -6-6 to -4-4 to -2-2 to 00 to 22 to 44 to 66 to 88 to 10> 10Distribution of Returns (since Jan 2020)0 Mos.4 Mos.8 Mos.12 Mos.16 Mos.20 Mos. Percent Return

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. TRADING FUTURES AND OPTIONS INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS. THERE ARE NO GUARANTEES OF PROFIT. PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR DECISION TO INVEST SOLELY ON THE PAST PERFORMANCE PRESENTED HEREIN.

Ascent Capital Management
311 S. Wacker Drive - Suite 600 * Chicago, IL 60606
Office: 312-283-3350 Email: info@ascentcm.com | Web Address: http://www.ascentcm.com


Ascent Capital Management CTA Report
Report Start Date: Jan-2020 - Report End Date: Apr-2025
Please wait for your Report to Fully Load Print to PDF




+ NOTES: The performance shown is the hypothetical investment return based on a reduced volatility version of the Mosaic program. The returns were calculated by taking the actual daily returns achieved by the Mosaic program and reducing them by 58%, which calibrates the risk profile to the targeted 1% probability of an account experiencing a loss of 8% or greater in a one month period (or 21 trading days). There can be no assurance that had Revolution Capital Management, LLC offered this program during the period shown above, an investor's investment returns would have been as shown. Hypothetical investment returns have the benefit of hindsight inthat the returns are being presented after the fact when the results of investment decisions are already known. Hypothetical results have certain inherent limitations, the most important of which is that past results give no assurance of future profits.

A Qualified Eligible Person must meet the following two requirements: 1) the investor must first be an accredited investor. The most common ways for this are to either have a net worth of $1,000,000 or more OR an annual income of $200,000 or more for the last two years OR, combined with a spouse, $300,000 per year for two years, 2) the investor must meet an additional portfolio requirement, which is having $4,000,000 in securities holdings OR the person must have on deposit with a Futures Commission Merchant at least $400,000 in exchange-specified initial margin and option premiums, and required minimum security deposit for retail forex transactions.

PURSUANT TO AN EXEMPTION FROM THE COMMODITY FUTURES TRADING COMMISSION IN CONNECTION WITH ACCOUNTS OF QUALIFIED ELIGIBLE PERSONS, THIS BROCHURE OR ACCOUNT DOCUMENT IS NOT REQUIRED TO BE, AND HAS NOT BEEN, FILED WITH THE COMMISSION. THE COMMODITY FUTURES TRADING COMMISSION DOES NOT PASS UPON THE MERITS OF PARTICIPATING IN A TRADING PROGRAM OR UPON THE ADEQUACY OR ACCURACY OF COMMODITY TRADING ADVISOR DISCLOSURE. CONSEQUENTLY, THE COMMODITY FUTURES TRADING COMMISSION HAS NOT REVIEWED OR APPROVED THIS TRADING PROGRAM OR THIS BROCHURE OR ACCOUNT DOCUMENT.

** The drawdown begins in the month listed as start. The length in months of the drawdown is listed under length. The recovery begins in the following month, and the length of the recovery period is listed under recovery. The date listed as end is the month that the program recovered from the drawdown.

Please note that the monthly performance numbers, ROR and Drawdowns are based on end of month values and are not reflective of intramonth volatility.

Statistical Notes

1. Peak to Valley Drawdown ("Maximum Drawdown") is the worst drawdown % loss over the period of 2020-01-31 to 2025-04-30

2. The Annualized Compounded ROR is the average return of an investment over a number of years. It smoothes out returns by assuming constant growth.

3. Calmar Ratio Uses last 36 months of Data

ROR = Rate of Return

AG CTA Index: The Autumn Gold CTA Index is a Non-Investable Index comprised of the client performance of all CTA programs included in the AG database and does not represent the complete universe of CTAs. CTA programs with proprietary performance are not included. Monthly numbers are updated until 45 days after the end of the month. Investors should note that it is not possible to invest in this index.

SP 500 TR: The S&P 500 indices are designed to reflect all sectors of the U.S. equity markets. The S&P 500 includes 500 blue chip, large cap stocks, which together represent about 75% of the total U.S. equities market. Companies eligible for addition to the S&P 500 have market capitalization of at least US$3.5 billion. The TR Index accounts for the reinvestment of dividends.

This report has been prepared from information provided by the Trader and is believed to be reliable. This report should be read in conjunction with the Trader's Disclosure Document.


PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. TRADING FUTURES AND OPTIONS INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS. THERE ARE NO GUARANTEES OF PROFIT NO MATTER WHO IS MANAGING YOUR MONEY. THERE IS AN UNLIMITED RISK OF LOSS IN SELLING OPTIONS. YOU SHOULD CAREFULLY CONSIDER WHETHER COMMODITY FUTURES AND OPTIONS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. AN INVESTOR MUST READ AND UNDERSTAND THE MANAGER'S CURRENT DISCLOSURE DOCUMENT BEFORE INVESTING.


Ascent Capital Management
311 S. Wacker Drive - Suite 600 * Chicago, IL 60606
Office: 312-283-3350 Email: info@ascentcm.com | Web Address: http://www.ascentcm.com