Company Quick10K Filing
Quick10K
Global Macro Trust
10-Q 2019-06-30 Quarter: 2019-06-30
10-Q 2019-03-31 Quarter: 2019-03-31
S-1 2019-02-13 Public Filing
10-K 2018-12-31 Annual: 2018-12-31
10-Q 2018-09-30 Quarter: 2018-09-30
10-Q 2018-06-30 Quarter: 2018-06-30
10-Q 2018-03-31 Quarter: 2018-03-31
10-K 2017-12-31 Annual: 2017-12-31
10-Q 2017-09-30 Quarter: 2017-09-30
10-Q 2017-06-30 Quarter: 2017-06-30
10-Q 2017-03-31 Quarter: 2017-03-31
10-K 2016-12-31 Annual: 2016-12-31
10-Q 2016-09-30 Quarter: 2016-09-30
10-Q 2016-06-30 Quarter: 2016-06-30
10-Q 2016-03-31 Quarter: 2016-03-31
10-K 2015-12-31 Annual: 2015-12-31
10-Q 2015-09-30 Quarter: 2015-09-30
10-Q 2015-06-30 Quarter: 2015-06-30
10-Q 2015-03-31 Quarter: 2015-03-31
10-K 2014-12-31 Annual: 2014-12-31
10-Q 2014-09-30 Quarter: 2014-09-30
10-Q 2014-06-30 Quarter: 2014-06-30
10-Q 2014-03-31 Quarter: 2014-03-31
10-K 2013-12-31 Annual: 2013-12-31
SPB Spectrum Brands Holdings 2,661
INDU Industrea Acquisition 577
CORI Corium 295
ZNRG Znergy 23
IGEN Igen Networks 3
SECI Sector 10 0
MPMI MPM Holdings 0
CPFH Capital Financial Holdings 0
DIFU Diversified 2000 Futures Fund 0
LGF Lions Gate Entertainment 0
C765 2019-06-30
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and The Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-31.1 c765-20190630xex31_1.htm
EX-31.2 c765-20190630xex31_2.htm
EX-31.3 c765-20190630xex31_3.htm
EX-32.1 c765-20190630xex32_1.htm
EX-32.2 c765-20190630xex32_2.htm
EX-32.3 c765-20190630xex32_3.htm

Global Macro Trust Earnings 2019-06-30

C765 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

10-Q 1 c765-20190630x10q.htm 10-Q 20190630 10-Q Q2_Taxonomy2019

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

 



 

 



Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

For the Quarterly Period Ended:   June 30, 2019

or

 



 

 



Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934



Commission File Number: 000-50102

 



GLOBAL MACRO TRUST

(Exact name of registrant as specified in its charter)



 



 

 

Delaware

 

36-7362830

(State or other jurisdiction of

 

(I.R.S. Employer

incorporation or organization)

 

Identification No.)



 

c/o MILLBURN RIDGEFIELD CORPORATION

55 West 46th Street, 31st Floor



New York, NY 10036

(Address of principal executive offices) (Zip code)

 

Registrant's telephone number, including area code:  (212) 332-7300

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

 

Yes          No

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

 

Yes          No

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer,” “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 



 

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Yes          No

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

 

Yes          No 


 







 







 

 

 

 

 

 

PART 1. FINANCIAL INFORMATION

 

ITEM 1. FINANCIAL STATEMENTS

 



 

 

 

 

 

 

Global Macro Trust

 

Financial statements

 

For the three and six months ended June 30, 2019 and 2018 (unaudited)

 



 

 

 

 

 

 

Statements of Financial Condition (a)

 

 

Condensed Schedules of Investments (a)

 

 

Statements of Operations (b)

 

 

Statements of Changes in Trust Capital (c)

 

 

Statements of Financial Highlights (b)

 

 

10 

Notes to the Financial Statements

 

 

12 



 

 

 

 

 

 

(a) At June 30, 2019 (unaudited) and December 31, 2018

 

(b) For the three and six months ended June 30, 2019 and 2018 (unaudited)

 

(c) For the six months ended June 30, 2019 and 2018 (unaudited)

 

















 

 

 


 





 

 

 

 

 

Global Macro Trust

Statements of Financial Condition

 

 

 

 

 

 



 

 

 

 

 



 

June 30, 2019 (unaudited)

 

 

December 31, 2018

ASSETS

 

 

 

 

 

EQUITY IN TRADING ACCOUNTS:

 

 

 

 

 

Investments in U.S. Treasury notes – at fair value

 

 

 

 

 

(amortized cost $18,541,236 and $21,617,368)

$

18,582,941 

 

$

21,603,382 

Net unrealized appreciation on open futures and

 

 

 

 

 

forward currency contracts

 

1,037,396 

 

 

4,054,099 

Due from brokers, net

 

6,982,852 

 

 

6,504,331 

Cash denominated in foreign currencies (cost $7,269,263

 

 

 

 

 

and $6,909,914)

 

7,320,955 

 

 

6,897,526 

Total equity in trading accounts

 

33,924,144 

 

 

39,059,338 



 

 

 

 

 

INVESTMENTS IN U.S. TREASURY NOTES – at fair value

 

 

 

 

 

(amortized cost $121,646,029 and $127,102,393)

 

121,907,424 

 

 

127,073,001 

CASH AND CASH EQUIVALENTS

 

9,727,474 

 

 

11,323,714 

ACCRUED INTEREST RECEIVABLE

 

397,215 

 

 

300,240 

TOTAL

$

165,956,257 

 

$

177,756,293 



 

 

 

 

 

LIABILITIES AND TRUST CAPITAL

 

 

 

 

 

LIABILITIES:

 

 

 

 

 

Subscriptions by Unitholders received in advance

$

320,000 

 

$

75,000 

Net unrealized depreciation on open forward currency contracts

 

1,213,846 

 

 

318,490 

Due to Managing Owner

 

32,559 

 

 

 -

Due to brokers, net

 

539,570 

 

 

180,817 

Accrued brokerage and custodial fees

 

611,883 

 

 

713,459 

Accrued management fees

 

52,283 

 

 

48,716 

Redemptions payable to Unitholders

 

2,904,170 

 

 

1,542,051 

Redemption payable to Managing Owner

 

 -

 

 

68,133 

Accrued expenses

 

 -

 

 

95,879 

Cash denominated in foreign currencies (cost $0 and $162,735)

 

 -

 

 

165,502 

Accrued profit share

 

50,837 

 

 

 -

Total liabilities

 

5,725,148 

 

 

3,208,047 



 

 

 

 

 



 

 

 

 

 

TRUST CAPITAL:

 

 

 

 

 

Managing Owner interest (3,376.468 and 3,271.911 units outstanding)

 

3,990,648 

 

 

3,878,720 

Series 1 Unitholders (96,011.737 and 110,008.795 units outstanding)

 

113,475,825 

 

 

130,410,857 

Series 3 Unitholders (19,324.220 and 19,251.321 units outstanding)

 

32,528,787 

 

 

31,842,823 

Series 4 Unitholders (3,922.283 and 3,619.144 units outstanding)

 

8,342,266 

 

 

7,485,965 

Series 5 Unitholders (1,175.341 and 584.994 units outstanding)

 

1,893,583 

 

 

929,881 

Total trust capital

 

160,231,109 

 

 

174,548,246 



 

 

 

 

 

TOTAL

$

165,956,257 

 

$

177,756,293 



 

 

 

 

 

NET ASSET VALUE PER UNIT OUTSTANDING:

 

 

 

 

 

Series 1 Unitholders

$

1,181.90 

 

$

1,185.46 

Series 3 Unitholders

$

1,683.32 

 

$

1,654.06 

Series 4 Unitholders

$

2,126.89 

 

$

2,068.44 

Series 5 Unitholders

$

1,611.09 

 

$

1,589.56 



 

 

 

 

 

See notes to financial statements (unaudited)

 

 

 

 

 











1

 


 





 

 

 

 

Global Macro Trust

Condensed Schedule of Investments (UNAUDITED)

June 30, 2019



 

 

 

 

FUTURES AND FORWARD CURRENCY CONTRACTS

Net Unrealized
Appreciation/
(Depreciation)
as a % of
Trust Capital

 

 

Net Unrealized
Appreciation/
(Depreciation)

FUTURES CONTRACTS

 

 

 

 

Long futures contracts:

 

 

 

 

Energies

0.17 

%

$

260,978 

Grains

(0.01)

 

 

(18,400)

Interest rates

0.19 

 

 

308,651 

Metals

0.03 

 

 

55,538 

Stock indices

0.17 

 

 

274,133 



 

 

 

 

Total long futures contracts

0.55 

 

 

880,900 



 

 

 

 

Short futures contracts:

 

 

 

 

Energies

0.08 

 

 

145,396 

Grains

0.09 

 

 

140,934 

Interest rates

(0.39)

 

 

(624,306)

Livestock

0.01 

 

 

16,290 

Metals

0.04 

 

 

56,569 

Softs

(0.04)

 

 

(71,565)

Stock indices

(0.09)

 

 

(144,462)



 

 

 

 

Total short futures contracts

(0.30)

 

 

(481,144)



 

 

 

 

TOTAL INVESTMENTS IN FUTURES CONTRACTS-Net

0.25 

 

 

399,756 



 

 

 

 

FORWARD CURRENCY CONTRACTS

 

 

 

 

Total long forward currency contracts

1.98 

 

 

3,179,484 

Total short forward currency contracts

(2.34)

 

 

(3,755,690)



 

 

 

 

TOTAL INVESTMENTS IN FORWARD CURRENCY

 

 

 

 

CONTRACTS-Net

(0.36)

 

 

(576,206)

 

 

 

 

 

TOTAL

(0.11)

%

$

(176,450)



 

 

 

 



 

 

 

(Continued)

 

2

 


 



 



 

 

 

 

 

 

 

 

Global Macro Trust

Condensed Schedule of Investments (UNAUDITED)

June 30, 2019

U.S. TREASURY NOTES

 

 

 

 

 



 

 

 

 

 

 

 

 

Face Amount

 

Description

 

Fair Value
as a % of
Trust Capital

 

 

Fair Value



 

 

 

 

 

 

 

 

$

33,260,000 

 

U.S. Treasury notes, 0.750%,  08/15/2019

 

20.72 

%

$

33,204,781 



36,720,000 

 

U.S. Treasury notes, 1.000%,  11/15/2019

 

22.83 

 

 

36,572,259 



37,100,000 

 

U.S. Treasury notes, 1.375%,  02/15/2020

 

23.06 

 

 

36,946,383 



33,910,000 

 

U.S. Treasury notes, 1.500%,  05/15/2020

 

21.07 

 

 

33,766,942 



 

 

Total investments in U.S. Treasury notes

 

 

 

 

 



 

 

(amortized cost $140,187,265)

 

87.68 

%

$

140,490,365 



 

 

 

 

 

 

 

 

See notes to financial statements (unaudited)

 

 

 

(Concluded)



3

 


 







 

 

 

 

Global Macro Trust

Condensed Schedule of Investments

December 31, 2018



 

 

 

 

FUTURES AND FORWARD CURRENCY CONTRACTS

Net Unrealized
Appreciation/
(Depreciation)
as a % of
Trust Capital

 

 

Net Unrealized
Appreciation/
(Depreciation)

FUTURES CONTRACTS

 

 

 

 

Long futures contracts:

 

 

 

 

Energies

(0.04)

%

$

(63,140)

Grains

(0.01)

 

 

(19,770)

Interest rates:

 

 

 

 

30 Year U.S. Treasury Bond (27 contracts, settlement date March 2019)

0.01 

 

 

11,594 

Other

0.69 

 

 

1,206,179 



 

 

 

 

Total interest rates

0.70 

 

 

1,217,773 



 

 

 

 

Metals

(0.33)

 

 

(575,250)

Stock indices

(0.05)

 

 

(92,460)



 

 

 

 

Total long futures contracts

0.27 

 

 

467,153 



 

 

 

 

Short futures contracts:

 

 

 

 

Energies

2.04 

 

 

3,577,403 

Grains

0.15 

 

 

265,515 

Interest rates

(0.66)

 

 

(1,153,413)

Livestock

0.00 

 

 

70 

Metals

0.26 

 

 

449,212 

Softs

0.05 

 

 

79,694 

Stock indices

(0.14)

 

 

(247,491)



 

 

 

 

Total short futures contracts

1.70 

 

 

2,970,990 



 

 

 

 

TOTAL INVESTMENTS IN FUTURES CONTRACTS-Net

1.97 

 

 

3,438,143 



 

 

 

 

FORWARD CURRENCY CONTRACTS

 

 

 

 

Total long forward currency contracts

0.50 

 

 

868,265 

Total short forward currency contracts

(0.33)

 

 

(570,799)

TOTAL INVESTMENTS IN FORWARD CURRENCY

 

 

 

 

CONTRACTS-Net

0.17 

 

 

297,466 

 

 

 

 

 

TOTAL

2.14 

%

$

3,735,609 



 

 

 

 



 

 

 

(Continued)



4

 


 









 

 

 

 

 

 

 

Global Macro Trust

Condensed Schedule of Investments

December 31, 2018

U.S. TREASURY NOTES

 

 

 

 



 

 

 

 

 

 

 

Face Amount

 

Description

Fair Value
as a % of
Trust Capital

 

 

Fair Value



 

 

 

 

 

 

 

$

39,200,000 

 

U.S. Treasury notes, 0.750%,  02/15/2019

22.41 

%

$

39,118,844 



38,910,000 

 

U.S. Treasury notes, 0.875%,  05/15/2019

22.16 

 

 

38,685,812 



33,760,000 

 

U.S. Treasury notes, 0.750%,  08/15/2019

19.13 

 

 

33,384,156 



38,020,000 

 

U.S. Treasury notes, 1.000%,  11/15/2019

21.48 

 

 

37,487,571 



 

 

Total investments in U.S. Treasury notes

 

 

 

 



 

 

(amortized cost $148,719,761)

85.18 

%

$

148,676,383 



 

 

 

 

 

 

 

See notes to financial statements (unaudited)

 

 

 

(Concluded)















5

 


 









 

 

 

 

 

Global Macro Trust

Statements of Operations (UNAUDITED)



 

 

 

 

 



 

For the three months ended



 

June 30, 2019

 

 

June 30, 2018

INVESTMENT INCOME:

 

 

 

 

 

Interest income

$

994,982 

 

$

714,975 



 

 

 

 

 

EXPENSES:

 

 

 

 

 

Brokerage and custodial fees

 

2,072,432 

 

 

2,543,835 

Administrative expenses

 

261,766 

 

 

279,926 

Custody fees and other expenses

 

7,651 

 

 

8,964 

Management fees

 

154,844 

 

 

136,631 

Total expenses

 

2,496,693 

 

 

2,969,356 



 

 

 

 

 

Managing Owner commission rebate to Unitholders

 

(137,039)

 

 

(164,321)



 

 

 

 

 

Net expenses

 

2,359,654 

 

 

2,805,035 



 

 

 

 

 

NET INVESTMENT LOSS

 

(1,364,672)

 

 

(2,090,060)



 

 

 

 

 

NET REALIZED AND UNREALIZED GAINS (LOSSES):

 

 

 

 

 

Net realized gains (losses) on closed positions:

 

 

 

 

 

Futures and forward currency contracts

 

1,193,322 

 

 

3,974,445 

Foreign exchange translation

 

(70,173)

 

 

(42,191)

Net change in unrealized:

 

 

 

 

 

Futures and forward currency contracts

 

(676,704)

 

 

12,287 

Foreign exchange translation

 

124,850 

 

 

(228,844)

Net gains (losses) from U.S. Treasury notes:

 

 

 

 

 

Realized

 

(8,149)

 

 

10,657 

Net change in unrealized 

 

211,720 

 

 

111,066 

TOTAL NET REALIZED AND UNREALIZED GAINS

 

774,866 

 

 

3,837,420 

 

 

 

 

 

 



 

 

 

 

 

NET INCOME (LOSS)

$

(589,806)

 

$

1,747,360 

LESS PROFIT SHARE TO (FROM) MANAGING OWNER

 

(17,728)

 

 

532 

NET INCOME (LOSS) AFTER PROFIT SHARE TO (FROM) MANAGING OWNER

$

(572,078)

 

$

1,746,828 



 

 

 

 

 

NET INCOME (LOSS) PER UNIT OUTSTANDING

 

 

 

 

 

Series 1 Unitholders

$

(8.69)

 

$

6.86 

Series 3 Unitholders

$

6.83 

 

$

26.99 

Series 4 Unitholders

$

16.89 

 

$

41.69 

Series 5 Unitholders (1)

$

4.13 

 

$

19.94 



 

 

 

 

 

(1) Series 5 Units were first issued on April 1, 2018.

 

 

 

 

 



 

 

 

 

 

See notes to financial statements (unaudited)

 

 

 

 

 



6

 


 





 

 

 

 

 

Global Macro Trust

Statements of Operations (UNAUDITED)



 

 

 

 

 



 

 

 

 

 



 

For the six months ended



 

June 30, 2019

 

 

June 30, 2018

INVESTMENT INCOME:

 

 

 

 

 

Interest income

$

1,957,808 

 

$

1,335,090 



 

 

 

 

 

EXPENSES:

 

 

 

 

 

Brokerage and custodial fees

 

4,257,200 

 

 

5,253,564 

Administrative expenses

 

512,846 

 

 

568,361 

Custody fees and other expenses

 

15,606 

 

 

18,170 

Management fees

 

301,878 

 

 

275,173 

Total expenses

 

5,087,530 

 

 

6,115,268 



 

 

 

 

 

Managing Owner commission rebate to Unitholders

 

(272,095)

 

 

(341,510)



 

 

 

 

 

Net expenses

 

4,815,435 

 

 

5,773,758 



 

 

 

 

 

NET INVESTMENT LOSS

 

(2,857,627)

 

 

(4,438,668)



 

 

 

 

 

NET REALIZED AND UNREALIZED GAINS (LOSSES):

 

 

 

 

 

Net realized gains (losses) on closed positions:

 

 

 

 

 

Futures and forward currency contracts

 

7,241,278 

 

 

(15,731,248)

Foreign exchange translation

 

(108,467)

 

 

359,145 

Net change in unrealized:

 

 

 

 

 

Futures and forward currency contracts

 

(3,912,059)

 

 

8,111,858 

Foreign exchange translation

 

66,847 

 

 

(422,455)

Net gains (losses) from U.S. Treasury notes:

 

 

 

 

 

Realized

 

(611)

 

 

(449)

Net change in unrealized 

 

346,478 

 

 

103,941 

TOTAL NET REALIZED AND UNREALIZED GAINS (LOSSES)

 

3,633,466 

 

 

(7,579,208)

 

 

 

 

 

 



 

 

 

 

 

NET INCOME (LOSS)

$

775,839 

 

$

(12,017,876)

LESS PROFIT SHARE TO MANAGING OWNER

 

53,144 

 

 

532 

NET INCOME (LOSS) AFTER PROFIT SHARE TO MANAGING OWNER

$

722,695 

 

$

(12,018,408)



 

 

 

 

 

NET INCOME (LOSS) PER UNIT OUTSTANDING

 

 

 

 

 

Series 1 Unitholders

$

(3.56)

 

$

(75.35)

Series 3 Unitholders

$

29.26 

 

$

(65.51)

Series 4 Unitholders

$

58.45 

 

$

(63.50)

Series 5 Unitholders (1)

$

21.53 

 

$

19.94 



 

 

 

 

 

(1) Series 5 Units were first issued on April 1, 2018.

 

 

 

 

 



 

 

 

 

 

See notes to financial statements (unaudited)

 

 

 

 

(Concluded)





 

7

 


 















 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Macro Trust

Statements of Changes in Trust Capital (UNAUDITED)



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the six months ended June 30, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

New Profit 

 

 

 

 

 



 

Series 1 Unitholders

 

Series 3 Unitholders

 

Series 4 Unitholders

 

Series 5 Unitholders

 

Memo Account

 

Managing Owner

 

Total



 

Amount

Units

 

Amount

Units

 

Amount

Units

 

Amount

Units

 

Amount

Units

 

Amount

Units

 

Amount



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trust capital at

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

January 1, 2019

$

130,410,857  110,008.795 

$

31,842,823  19,251.321 

$

7,485,965  3,619.144 

$

929,881  584.994 

$

 -

 -

$

3,878,720  3,271.911 

$

174,548,246 

Subscriptions

 

 -

 -

 

1,622,500  974.327 

 

627,825  305.778 

 

939,150  590.347 

 

2,307  1.925 

 

 -

 -

 

3,191,782 

Redemptions

 

(16,713,977) (14,159.103)

 

(1,511,994) (901.428)

 

(5,643) (2.639)

 

 -

 -

 

 -

 -

 

 -

 -

 

(18,231,614)

Addt'l units allocated *

 

 -

162.045 

 

 -

 -

 

 -

 -

 

 -

 -

 

 -

0.026 

 

 -

102.606 

 

 -

Net income (loss)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

before profit share to Managing Owner

 

(221,055)

 -

 

626,731 

 -

 

234,119 

 -

 

26,423 

 -

 

 -

 

109,616 

 -

 

775,839 

Profit share to Managing Owner:

 

 -

 -

 

(51,273)

 -

 

 -

 -

 

(1,871)

 -

 

 -

 -

 

 -

 -

 

(53,144)

Trust capital at

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2019

$

113,475,825  96,011.737 

$

32,528,787  19,324.220 

$

8,342,266  3,922.283 

$

1,893,583  1,175.341 

$

2,312  1.951 

$

3,988,336  3,374.517 

$

160,231,109 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net asset value per unit outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

at June 30, 2019:

$

1,181.90 

 

$

1,683.32 

 

$

2,126.89 

 

$

1,611.09 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

* Additional units are issued to Series 1 Unitholders who are charged less than a 7% brokerage fee and the Managing Owner.

 

 

 

 

 

 

 

 

 

 

 

(Continued)







8

 


 





 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Macro Trust

 

 

 

Statements of Changes in Trust Capital (UNAUDITED)

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the six months ended June 30, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

New Profit 

 

 

 

 

 



 

Series 1 Unitholders

 

Series 3 Unitholders

 

Series 4 Unitholders

 

Series 5 Unitholders

 

Memo Account

 

Managing Owner

 

Total



 

Amount

Units

 

Amount

Units

 

Amount

Units

 

Amount

Units

 

Amount

Units

 

Amount

Units

 

Amount



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trust capital at

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

January 1, 2018

$

169,927,843  139,480.782 

$

31,616,309  19,430.096 

$

6,558,797  3,286.212 

$

 -

 -

$

 -

 -

$

3,742,615  3,072.023 

$

211,845,564 

Subscriptions

 

 -

 -

 

3,799,900  2,432.056 

 

565,840  286.717 

 

268,510  178.494 

 

 -

 -

 

 -

 -

 

4,634,250 

Redemptions

 

(15,768,077) (13,850.332)

 

(3,989,604) (2,585.763)

 

(35,681) (19.380)

 

 -

 -

 

 -

 -

 

 -

 -

 

(19,793,362)

Addt'l units allocated *

 

 -

188.214 

 

 -

 -

 

 -

 -

 

 -

 -

 

 -

 -

 

 -

98.337 

 

 -

Net income (loss)

 

(10,356,674)

 -

 

(1,323,178)

 -

 

(222,263)

 -

 

3,323 

 -

 

 -

 -

 

(119,084)

 -

 

(12,017,876)

before profit share to Managing Owner

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Profit share to Managing Owner:

 

 -

 -

 

 -

 -

 

 -

 -

 

(532)

 -

 

 -

 -

 

 -

 -

 

(532)

Trust capital at

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

June 30, 2018

$

143,803,092  125,818.664 

$

30,103,427  19,276.389 

$

6,866,693  3,553.549 

$

271,301  178.494 

$

 -

 -

$

3,623,531  3,170.360 

$

184,668,044 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net asset value per unit outstanding

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

at June 30, 2018:

$

1,142.94 

 

$

1,561.67 

 

$

1,932.35 

 

$

1,519.94 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

* Additional units are issued to Series 1 Unitholders who are charged less than a 7% brokerage fee and the Managing Owner.

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

See notes to financial statements (unaudited)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(Concluded)

 

 

 

















 

9

 


 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Global Macro Trust

 

 

 

Statements of Financial Highlights (UNAUDITED)

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For the three months ended June 30:

 

2019

2018

 



 

&n