HedgeSynergy.com - Quarterly Performance

2012 Q1 — Quarterly Hedge Fund Performance

At the beginning of the first quarter, the long portfolio was 100% of equity and the short portfolio was 60% of equity for a net exposure of 40% and a gross exposure of 160%.

2011 Q4 — Quarterly Hedge Fund Performance

On October 1st, the beginning of the fourth quarter, the long portfolio was 100% of equity and the short portfolio was 60% of equity for a net exposure of 40% and a gross exposure of 160%. On October 21st (white vertical line) the long/short portfolio ratio was changed to 2.2 to 1 with the long portfolio at 110% of equity and the short portfolio at 50% of equity for a net exposure of 60% and a gross exposure of 160%.

2011 Q3 — Quarterly Hedge Fund Performance

On July 1st, the beginning of the third quarter, the long portfolio was 80% of equity and the short portfolio was 80% of equity for a net exposure of 0% and a gross exposure of 160%.

2011 Q2 — Quarterly Hedge Fund Performance

On April 1st, the beginning of the second quarter, the long portfolio was 80% of equity and the short portfolio was 45% of equity for a net exposure of 35% and a gross exposure of 125%.

2011 Q1 — Quarterly Hedge Fund Performance

On January 1st, the beginning of the first quarter, the long portfolio was 80% of equity and the short portfolio was 45% of equity for a net exposure of 35% and a gross exposure of 125%.

2010 Q4 — Quarterly Hedge Fund Performance

On October 1st, the beginning of the quarter, the long portfolio was 100% of equity and the short portfolio was 50% of equity for a net exposure of 50% and a gross exposure of 150%. On October 22nd (white vertical line) the long/short portfolio ratio was changed to 1 to 1 with the long portfolio at 80% of equity and the short portfolio at 80% of equity for a net exposure of 0% and a gross exposure of 160%.

2010 Q3 — Quarterly Hedge Fund Performance

On July 1st , the beginning of the quarter, the long and short portfolios were both 80% of equity for a net exposue of 0% and and a gross exposure of 160%. On July 23rd (the white vertical line) the long/short portfolio ratio was changed to 2 to 1 with the long portfolio at 100% of equity and the short portfolio at 50% of equity. On October 1st,

2010 Q2 — Quarterly Hedge Fund Performance

On March 31st, the beginning of the quarter, the long and short portfolios were both 80% of equity for a net exposue of 0% and and a gross exposure of 160%.

2010 Q1 — Quarterly Hedge Fund Performance

The quarter started with the long portfolio 75% of equity and the short portfolio 25% of equity for a long/short portfolio ratio of 3 to 1. On January 29th (the white vertical line) the long/short portfolio ratio was changed to 2 to 1 with the long portfolio at 80% of equity and the short portfolio at 40% of equity.

2009 Q4 — Quarterly Hedge Fund Performance

The begining of the quarter started with the long portfolio 75% of equity and the short portfolio 25% of equity for a long/short portfolio ratio of 3 to 1 and the long portolio was switched from the long stock portfolio to the Vanguard 500 index fund.

2009 Q3 — Quarterly Hedge Fund Performance

The quarter started with the long portfolio 75% of equity and the short portfolio 25% of equity for a long/short portfolio ratio of 3 to 1. On September 11 (the blue vertical line) the long portfolio was switched from the Vanguard 500 index fund to a long stock portfolio.

2009 Q2 — Quarterly Hedge Fund Performance (May 29 to June 30)

On May 29, 2009 the virtual Hedge Synergy Fund net exposure was adjusted from 80% net exposure to 50% net exposure, the gross exposure was adjusted from 200% gross exposure to 100% gross exposure. This made the long portfolio 75% of equity and the short portfolio 25% of equity for a long/short portfolio ratio of 3 to 1.

2009 Q2 — Quarterly Hedge Fund Performance (March 31 to May 29)

On May 29, 2009 the virtual Hedge Synergy Fund net exposure was adjusted from 80% net exposure to 60% net exposure, the gross exposure was adjusted from 200% gross exposure to 100% gross exposure.

2009 Q1 — Quarterly Hedge Fund Performance

On March 13, 2009 (the white line) the virtual Hedge Synergy Fund net exposure was adjusted from 40% net exposure to 80% net exposure.

2008 Q4 — Quarterly Hedge Fund Performance

On October 10, 2008 (the white line) the net exposure was adjusted from 0% net exposure to 40% net exposure, the gross exposure was adjusted from 180% gross exposure to 200% gross exposure and the Long Portfolio consisting of the Vanguard 500 index fund was replaced with a long stock portfolio of 50 stocks. On October 14, 2008 I reverted back to using the Vanguard 500 index fund for the long portfolio.

2008 Q3 — Quarterly Hedge Fund Performance

On July 18, 2008 (white line) the long stock portfolio was replaced by the Vanguard 500 index fund.

The NAV drawdown during the 3rd quarter was due to the energy/commodity long stocks crashing and the financial short stocks rallying. The strong recovery by the NAV at the end of the quarter was due to the financial short stocks crashing for a second time.

2008 Q2 — Quarterly Hedge Fund Performance

On May 16, 2008 I changed my portfolio management strategy from using a series of 8 two-year portfolios to using a single long portfolio and a single short portfolio.

The strong performance of the NAV at the end of the quarter was due to the financial short stocks crashing while the energy/commodity long stocks showed a positive gain.

2008 Q1 — Quarterly Hedge Fund Performance

On January 22, 2008 I switched from being long growth stocks and short value stocks to being long value stocks and short growth stocks.

2007 Q4 — Quarterly Hedge Fund Performance

On November 12, 2007 I switched from the longs being 144% of equity and the shorts being 36% of equity to the longs being 90% of equity and the shorts being 90% of equity.