Altegris Futures Evolution Strategy Fund

Fund Holdings

Asset Allocation

% Long % Net
Cash 2.91 2.91
Stocks 0.0 0.0
Bonds 56.43 56.43
Other 0.87 0.87
Foreign Bonds 15.38 15.38
Foreign Stocks 24.4 24.4
Convertible 0.0 0.0
Preferred 0.0 0.0

Updated 09.30.2013

Top 10 Holdings

Performance as of 02.28.2014

Portfolio as of 09.30.2013

% Net Assets
Afes Fund Limited Cfc 24.4
FNMA 3% 2.77
FNMA 3.5% 1.96
US Treasury Note 1.625% 1.5
FNMA 3% 1.47
FNMA 3.5% 1.46
US Treasury Note 1.875% 1.34
US Treasury Note 1.5% 1.25
Gsr Mtg Tr 2006-Ar1 CMO 0.88
US Treasury Bond 3.75% 0.84