Demo Long Short Fund LP · DEMO LONG SHORT FUND LP BALANCE SHEET AS OF FEBRUARY 28, 2017 Confirmed...

Demo Long Short Fund LP

Please find enclosed the Net Asset Value reporting package for the above fund as at February-28-2017

Profit Alloc UnevenAllocations

AllocationBase

Confirmed

30 Nov 2016

Gross AssetsBrought Fwd

Net AssetsBrought Fwd

Status:

Previous valuation date:Gross Assets

CADLocal currency:

Profit allocation basis:

ManagementFee

System CalcPerf. Fee

SharesOutstanding

ClosingNet Capital

CapitalMovements

Test Fund - Multi Series

31 Dec 2016

VALUATION DETAIL

NAV% Change

GAV% Change

Profit allocation calculations are in local currency

EQ SharesEQ Amount

Perf. FeeCrystalised

Class A 2,783.94 2,519.57

139,888,194.17 155,671,525.16 0.00154,671,525.16 1,000,000.00 -5,153.58 0.00 773.04 140,883,813.63 55,915.7513 -0.0711% -0.0031%0.00

Total for Company

154,671,525.16 1,000,000.00 0.00 155,671,525.16 -5,153.58 0.00139,888,194.17 0.00 773.04 140,883,813.63 55,915.7513

Page 1 of 110/15/2017 16:10:31 PFS-PAXUS

As of: 2/28/2017

Equity attribution Current NAV % Return

ITDYTD

DateDateDate % Return% Return NAVNAVNAV


CUMULATIVE NAV

MTD

1/31/2017 12/31/2016 10/31/2013 36.5435%-1.9717%-1.5299%Class A, Series 2013-11 (Initial Series) 1,000.0000001,392.8997001,386.6497001,365.435400

12/31/2015 12/31/2015 1/31/20140.0000%0.0000%Class A, Series 2014-02 1,000.000000

1/31/2016 1/31/2016 1/31/20150.0000%0.0000%Class A, Series 2015-02 1,000.000000

1/31/2016 1/31/2016 2/28/20150.0000%0.0000%Class A, Series 2015-03 1,000.000000

1/31/2017 12/31/2016 5/31/20150.0000%Class A, Series 2015-06 1,000.0000001,050.942100

1/31/2017 12/31/2016 6/30/20150.0000%Class A, Series 2015-07 1,000.0000001,026.955500

1/31/2017 12/31/2016 7/31/20150.0000%Class A, Series 2015-08 1,000.0000001,035.380700

1/31/2017 12/31/2016 1/31/20160.0000%Class A, Series 2016-02 1,000.0000001,071.146600

1/31/2017 12/31/2016 2/29/20160.0000%Class A, Series 2016-03 1,000.0000001,058.510400

1/31/2017 1/31/2017 1/31/2017 -1.5299%-1.5299%-1.5299%Class A, Series 2017-02 1,000.0000001,000.0000001,000.000000984.701000

2/28/2017 2/28/2017 0.0000%0.0000%0.0000%Class A, Series 2017-03 1,000.0000001,000.0000001,000.000000

1/31/2017 12/31/2016 7/31/2012 133.1927%-1.7867%-1.4370%Class F, Series 2012-08 (Initial Series) 1,000.0000002,374.3490002,365.9255002,331.927100

12/31/2015 12/31/2015 1/31/20140.0000%0.0000%Class F, Series 2014-02 1,000.000000

12/31/2015 12/31/2015 2/28/20140.0000%0.0000%Class F, Series 2014-03 1,000.000000

1/31/2016 1/31/2016 1/31/20150.0000%0.0000%Class F, Series 2015-02 1,000.000000

1/31/2016 1/31/2016 2/28/20150.0000%0.0000%Class F, Series 2015-03 1,000.000000

1/31/2017 12/31/2016 6/30/20150.0000%Class F, Series 2015-07 1,000.0000001,046.251000

1/31/2017 12/31/2016 7/31/20150.0000%Class F, Series 2015-08 1,000.0000001,054.990700

1/31/2017 12/31/2016 1/31/20160.0000%Class F, Series 2016-02 1,000.0000001,090.259000

1/31/2017 12/31/2016 2/29/20160.0000%Class F, Series 2016-03 1,000.0000001,074.974600

1/31/2017 1/31/2017 1/31/2017 -1.4370%-1.4370%-1.4370%Class F, Series 2017-02 1,000.0000001,000.0000001,000.000000985.630000

2/28/2017 2/28/2017 0.0000%0.0000%0.0000%Class F, Series 2017-03 1,000.0000001,000.0000001,000.000000

1/31/2017 12/31/2016 5/31/2014 18.6705%-1.9953%-1.5379%Class Trust - A, Series 2014-06 (Initial Series) 1,000.0000001,210.8661001,205.2402001,186.705200

1/31/2016 1/31/2016 5/31/20140.0000%0.0000%Class Trust - A, Series 2015-02 1,000.000000

1/31/2017 12/31/2016 5/31/20140.0000%Class Trust - A, Series 2015-06 1,000.0000001,047.863100





1/31/2017 1/31/2017 1/31/2017 -1.5379%-1.5379%-1.5379%Class Trust - A, Series 2017-02 1,000.0000001,000.0000001,000.000000984.621200

2/28/2017 2/28/2017 0.0000%0.0000%0.0000%Class Trust - A, Series 2017-03 1,000.0000001,000.0000001,000.000000

1/31/2017 12/31/2016 5/31/2014 21.7579%-1.8103%-1.4450%Class Trust - F, Series 2014-06 (Initial Series) 1,000.0000001,240.0273001,235.4304001,217.578700

1/31/2016 1/31/2016 5/31/20140.0000%0.0000%Class Trust - F, Series 2015-02 1,000.000000

1/31/2017 12/31/2016 5/31/20140.0000%Class Trust - F, Series 2015-07 1,000.0000001,038.406200




1/31/2017 1/31/2017 1/31/2017 -1.4450%-1.4450%-1.4450%Class Trust - F, Series 2017-02 1,000.0000001,000.0000001,000.000000985.550200

2/28/2017 2/28/2017 0.0000%0.0000%0.0000%Class Trust - F, Series 2017-03 1,000.0000001,000.0000001,000.000000

4/20/2017 12:58:25 Page 1 of 1PFS-PAXUS

DEMO LONG SHORT FUND LP

ConfirmedBALANCE SHEET AS OF FEBRUARY 28, 2017

ASSETS CAD

Bank accounts 9,088,167.46

Cost of investment - bonds 26,482,011.28

Cost of investment - equities 64,149,993.36

Option purchased 268,941.29

App/depr bonds (224,638.95)

App/depr equities 4,124,907.80

App/depr options (117,661.82)

Dividends receivable 84,037.52

Interest receivable - bonds 61,791.84

Interest receivable - cash 1,388.42

Due from broker 4,391,074.92

ASSETS 108,310,013.12

LIABILITIES CAD

Short sale at cost - equities 25,256,502.76

Short sale at cost - exchange traded funds 1,452,995.48

Short sale at cost - options 47,598.19

Short- Appr/Dep equities - settled 1,060,578.06

Short- Appr/Dep ETFs - settled 13,154.54

Short- Appr/Dep Options - settled (44,251.36)

Dividends payable- Short 45,804.72

Incentive fee accrued (0.02)

Management fee payable 86,892.47

Accrued Government Fees 4,012.16

Administration fees payable 8,367.58

Audit fee payable 49,551.70

Financial statement fees payable 941.67

Miscellaneous fees payable 10,777.54

Tax fees payable 1,224.23

Advance subscriptions 212,500.00

Due to broker 3,184,716.93

Due to General Partner 100.00

Provision for rounding (0.04)

LIABILITIES 31,391,466.61

NET ASSET VALUE 76,918,546.51

UNITHOLDER CAPITAL CAD

Class A, Series 2013-11 (Initial Series) 6,436,905.98

Class A, Series 2017-02 635,132.14

Class F, Series 2012-08 (Initial Series) 22,221,094.00

Class F, Series 2017-02 4,928.15

Class Trust - A, Series 2014-06 (Initial Series) 8,071,478.49

Class Trust - A, Series 2017-02 97,477.50

Class Trust - F, Series 2014-06 (Initial Series) 37,763,137.09

Class Trust - F, Series 2017-02 1,688,393.15

UNITHOLDER CAPITAL TOTAL 76,918,546.50

12:58:264/20/2017 Page 1 of 1PFS-PAXUS

DEMO LONG SHORT FUND LP

PROFIT & LOSS STATEMENT FOR THE PERIOD FEBRUARY 1, 2017 TO FEBRUARY 28, 2017

YTD CADPERIOD CAD(112,786.97)Realised gain/loss Commission & other charges (57,209.47)

(32,106.72)Realised FX gain/loss securities (28,056.54)

26,920.38 Realised gain/loss bonds 18,560.00

1,536,231.24 Realised gain/loss equities 625,682.48

(235.19)Realised gain/loss ETFs 1,979.30

(68.67)Realised gain/loss fx spot (68.67)

1,730.03 Realised gain/loss options (87,771.50)

1,419,684.10 473,115.60

(34,837.00)Unrealised gain/loss Unrealised FX gain/loss - balance sheet 78,712.64

(25,250.92)Unrealised FX gain/loss on securities 115,376.57

21,095.05 Unrealised p/l settled bonds (11,475.88)

(2,585,004.20)Unrealised p/l settled equities (1,681,258.28)

(12,370.02)Unrealised p/l settled ETFs (2,416.67)

(160,460.40)Unrealised p/l settled options (65,811.35)

(2,796,827.49)(1,566,872.97)

(.02)Other gain/loss Rounding G/L .00

(.02).00

45,277.97 Interest income Interest earned - bonds 20,772.08

(191.56)Interest earned - bonds (manual entry) (215.75)

3,458.10 Interest income - cash balances 1,439.97

48,544.51 21,996.30

163,606.42 Dividend income Long- Dividends income 68,522.71

47,036.54 Long dividends income - equity (foreign) 45,034.90

6.28 Long- Dividends income (manual entry) .00

(78,893.83)Short- Dividends Expense (60,671.21)

(144.00)Short- Dividends Expense (manual entry) .00

131,611.41 52,886.40

(16,560.39)Other expenses Administration fees (8,368.52)

(9,274.82)Audit fees (4,637.41)

(77.41)Bank charges (34.69)

(941.59)Financial statement fees (470.76)

(2,854.96)Government Fees (666.66)

(305.48)Miscellaneous expenses (305.48)

(22,585.98)Stock Loan Fees (10,777.24)

640.33 Tax fees 1,252.41

(51,960.30)(24,008.35)

(172,580.21)Investment management fee expense Management fee (86,892.47)

(172,580.21)(86,892.47)

(10,697.47)Taxation expense Withholding tax expense (10,160.86)

(10,697.47)(10,160.86)

TOTAL (1,432,225.47)(1,139,936.35)

12:58:26 Page 1 of 14/20/2017 PFS-PAXUS

Investor

INVESTOR HOLDINGS

Investor No. Number Held NAV Price CCY NAV Value

As of: 12/31/2016

Total WF%ST

Test Fund - Multi Series - CAD

Class A

Alex Corp TEST CAD2,519.57396.8803 999,968.91 999,968.91 N0.71%C

123456789David J. Smith CAD2,519.571,011.0149 2,547,325.74 2,547,325.74 1.81%C

David Thomson (Investor) CAD2,519.570.0010 2.52 2.52 0.00%C

Givens Farms Ltd CAD2,519.57507.8541 1,279,575.48 1,279,575.48 N0.91%C

Katherine Tam CAD2,519.570.0010 2.52 2.52 0.00%C

Test - Company CAD2,519.571,000.0000 2,519,572.93 2,519,572.93 Y1.79%C

Test - Foundation CAD2,519.571,000.0000 2,519,572.93 2,519,572.93 Y1.79%C

Test - Trust CAD2,519.571,000.0000 2,519,572.93 2,519,572.93 Y1.79%C

Test Investor CAD2,519.5750,000.0000 125,978,646.73 125,978,646.73 89.42%C

Test Partnership CAD2,519.571,000.0000 2,519,572.93 2,519,572.93 Y1.79%C

140,883,813.6255,915.7513 140,883,813.62Series total

Company / Currency total 140,883,813.62140,883,813.6255,915.7513

10/15/2017 16:10:32 Page 1 of 1PFS-PAXUS

TEST FUND - MULTI SERIES - All Investors

Rounding Adjst.FP

TradeType

OffsetDeal LK WF

InvestorEquity Series

Deal Ref.

Settl.DateEx. Ref. Fee 2FPFee 1Equalisation EQBook ValueNumber Price Spread Value NAV

NetSettlement

INVESTOR TRANSACTIONS FROM 12/1/2016 TO 12/31/2016

Alex Corp TEST

Class A0.00I A N12/1/2016 0.000.000.001,000,000.00396.8803 2,519.65 0.00R98670 C1,000,000.00

396.8803 0.000.000.000.001,000,000.00 1,000,000.00 Total for Series for Investor - CAD

0.00396.8803 0.000.000.001,000,000.00 1,000,000.00 Total for Investor - CAD

396.8803 1,000,000.00 0.00 0.00 0.00 0.00 1,000,000.00 Total for Company - CAD

10/15/2017 16:10:33 Page 1 of 1PFS-PAXUS

PORTFOLIO OVERVIEW as of 2/28/2017


Percent ofInvestment

Percent ofNAV

FX Gain LCYUnrealised FCYLCY

Market Value FCYLCY

Market PriceCost LCYHistorical

Total Cost FCYLCY

Cost per ShareFCY

Total PositionSecurity

EA Group: <ALL>

Counterpart: Bank of Montreal Prime Brokerage

Position: LongSecurity type: Bond

Currency: CAD

0.2471%93.63000078.723478 203,000.00005N PLUS INC Jun 19 5.75% 0.28%190,068.90 30,260.24159,808.66 159,808.66

159,808.66 190,068.90 30,260.24

0.00

9.7475%99.96850099.867000 7,500,000.0000BMO BANK LOAN - 03/14/17 11.21%7,497,637.50 7,612.507,490,025.00 7,490,025.00

7,490,025.00 7,497,637.50 7,612.50

0.00

6.8233%99.96967099.937000 5,250,000.0000BMO BANK LOAN - 03/15/17 7.85%5,248,407.68 1,715.185,246,692.50 5,246,692.50

5,246,692.50 5,248,407.68 1,715.18

0.00

12.9919%99.93200099.932000 10,000,000.0000BMO BANK LOAN - 03/31/17 14.94%9,993,200.00 0.009,993,200.00 9,993,200.00

9,993,200.00 9,993,200.00 0.00

0.00

2.1598%100.50000082.956253 1,653,000.0000CENTRIC HEALTH CORP Oct 17 6.75% 2.48%1,661,265.00 289,998.141,371,266.87 1,371,266.87

1,371,266.87 1,661,265.00 289,998.14

0.00

0.6043%103.295000100.000000 450,000.0000CHEMTRADE LOGISTICS INC 5% 08/31/2023 0.69%464,827.50 14,827.50450,000.00 450,000.00

450,000.00 464,827.50 14,827.50

0.00

0.2063%103.060000103.649351 154,000.0000CHEMTRADE LOGISTICS INC Dec 18 5.75% 0.24%158,712.40 -907.60159,620.00 159,620.00

159,620.00 158,712.40 -907.60

0.00

0.00%0.000000100.000000 375,000.0000LOYALIST CONV DEBT 7.5% DUE 11/30/18 0.00%0.00 -375,000.00375,000.00 375,000.00

375,000.00 0.00 -375,000.00

0.00

0.616%87.75000087.995690 540,000.0000NYX GAMING GROUP LTD Dec 19 10% 0.71%473,850.00 -1,326.73475,176.73 475,176.73

475,176.73 473,850.00 -1,326.73

0.00

0.4344%64.13500098.082767 521,000.0000PATIENT HOME MONITORING Dec 19 7.5% 0.50%334,143.35 -176,867.87511,011.22 511,011.22

511,011.22 334,143.35 -176,867.87

0.00

0.1557%99.80000098.000000 120,000.0000TRANSGLOBE ENERGY CORP Mar 17 6% 0.18%119,760.00 2,160.00117,600.00 117,600.00

117,600.00 119,760.00 2,160.00

0.00

0.1502%96.250000110.508600 120,000.0000Yellow Pages Digital & M 8% 11/30/2022 0.17%115,500.00 -17,110.32132,610.32 132,610.32

132,610.32 115,500.00 -17,110.32

0.00

Total for Long - Bond - CAD

LCY

34.1366% 39.25%26,257,372.33 -224,638.9626,482,011.30

26,482,011.30

26,482,011.30

26,257,372.33 -224,638.96

0.00

Total for Long - Bond - LCY 34.1366% 39.25%26,482,011.30 26,482,011.30 26,257,372.33 -224,638.96 0.00

Security type: Equity

Currency: CAD

0.3457%11.4600008.938036 23,200.0000AGELLAN COMMERCIAL REAL ESTATE 0.40%265,872.00 58,509.58207,362.42 207,362.42

207,362.42 265,872.00 58,509.58

0.00

0.6001%13.38000014.009930 34,500.0000AIR CANADA 0.69%461,610.00 -21,732.60483,342.60 483,342.60

483,342.60 461,610.00 -21,732.60

0.00

0.4914%59.06000061.472600 6,400.0000ALIMENTATION COUCHE-TARD INC 0.57%377,984.00 -15,440.64393,424.64 393,424.64

393,424.64 377,984.00 -15,440.64

0.00

0.5704%1.6700001.779193 262,700.0000ATHABASCA OIL CORP 0.66%438,709.00 -28,684.98467,393.98 467,393.98

467,393.98 438,709.00 -28,684.98

0.00

0.5037%26.00000025.000000 14,900.0000BANK OF MONTREAL 0.58%387,400.00 14,900.00372,500.00 372,500.00

372,500.00 387,400.00 14,900.00

0.00

0.9233%0.2750000.200000 2,582,500.0000BNK PETROLEUM INC 1.06%710,187.50 193,687.50516,500.00 516,500.00

516,500.00 710,187.50 193,687.50

0.00

1.3122%86.27000077.051155 11,700.0000BOYD GROUP INCOME FUND 1.51%1,009,359.00 107,860.49901,498.51 901,498.51

901,498.51 1,009,359.00 107,860.49

0.00

4/20/2017 12:58:30 Page 1 of 11PFS-PAXUS




Percent ofNAV


Market Value FCYLCY


Total Cost FCYLCY

Cost per ShareFCY


EA Group: <ALL>


Position: LongSecurity type: Option

Currency: USD

0.006%0.5000000.870000 70.0000SPY US 03 Mar 17 P235 0.01%3,500.00 -2,590.006,090.00 7,986.43

8,088.13 4,648.35 -3,439.78

101.70

0.0097%0.2000002.832500 280.0000SPY US 17 Mar 17 P220 0.01%5,600.00 -73,710.0079,310.00 104,792.74

105,331.61 7,437.36 -97,894.25

538.87

0.009%0.1600000.200000 325.0000XLF US 03 Mar 17 P24.5 0.01%5,200.00 -1,300.006,500.00 8,524.10

8,632.65 6,906.12 -1,726.53

108.55

Total for Long - Option - USD

LCY

0.0614% 0.07%35,547.27 -99,952.73135,500.00

179,957.56

178,788.68

47,210.33 -132,747.23

1,168.88

Total for Long - Option - LCY 0.1967% 0.23%268,941.30 267,772.42 151,279.47 -117,661.83 1,168.88

Total for Long - LCY 123.0959% 141.54%90,900,946.03 90,841,863.67 94,683,553.13 3,782,607.02 59,082.43

Position: ShortSecurity type: Exchange traded fund

Currency: USD

-0.3451%71.38000073.350000 -2,800.0000ENERGY SELECT SECTOR SPDR -0.40%-199,864.00 5,516.00-205,380.00 -268,534.35

-272,765.18 -265,439.38 7,325.80

-4,230.83

-1.561%37.20500036.570400 -24,300.0000SPDR Bloomberg Barclays High Y: -1.79%-904,081.50 -15,420.78-888,660.72 -1,202,802.28

-1,180,230.30 -1,200,710.64 -20,480.34

22,571.98

Total for Short - Exchange traded fund - USD

LCY

-1.9061% -2.19%-1,103,945.50 -9,904.78-1,094,040.72

-1,452,995.48

-1,471,336.63

-1,466,150.02 -13,154.54

18,341.15

Total for Short - Exchange traded fund - LCY -1.9061% -2.19%-1,452,995.48 -1,471,336.63 -1,466,150.02 -13,154.54 18,341.15


Currency: CAD

-0.3266%39.88000034.975800 -6,300.0000A&W REVENUE ROYALTIES IN-UTS -0.38%-251,244.00 -30,896.46-220,347.54 -220,347.54

-220,347.54 -251,244.00 -30,896.46

0.00

-0.4483%8.0000009.333587 -43,100.0000ADVANTAGE OIL & GAS LTD -0.52%-344,800.00 57,477.62-402,277.62 -402,277.62

-402,277.62 -344,800.00 57,477.62

0.00

-0.3403%32.72000034.054400 -8,000.0000AGT FOOD & INGREDIENTS INC -0.39%-261,760.00 10,675.20-272,435.20 -272,435.20

-272,435.20 -261,760.00 10,675.20

0.00

-0.4371%35.02000034.695979 -9,600.0000ALLIED PROPERTIES REAL ESTAT -0.50%-336,192.00 -3,110.61-333,081.39 -333,081.39

-333,081.39 -336,192.00 -3,110.61

0.00

-0.7434%45.38000042.250158 -12,600.0000ATCO LTD/CANADA -0.85%-571,788.00 -39,436.01-532,351.99 -532,351.99

-532,351.99 -571,788.00 -39,436.01

0.00

-0.2905%77.04000070.195250 -2,900.0000BANK OF NOVA SCOTIA/THE -0.33%-223,416.00 -19,849.77-203,566.23 -203,566.23

-203,566.23 -223,416.00 -19,849.77

0.00

-0.8512%57.94000057.754497 -11,300.0000BCE INC -0.98%-654,722.00 -2,096.18-652,625.82 -652,625.82

-652,625.82 -654,722.00 -2,096.18

0.00

-0.9482%44.47000046.054251 -16,400.0000BOARDWALK REAL ESTATE INVESTME -1.09%-729,308.00 25,981.71-755,289.71 -755,289.71

-755,289.71 -729,308.00 25,981.71

0.00

-0.3049%22.99000021.500900 -10,200.0000BOSTON PIZZA ROYALTIES-UNITS -0.35%-234,498.00 -15,188.82-219,309.18 -219,309.18

-219,309.18 -234,498.00 -15,188.82

0.00

-0.9096%116.610000106.956139 -6,000.0000CANADIAN IMPERIAL BANK OF COMM -1.05%-699,660.00 -57,923.17-641,736.83 -641,736.83

-641,736.83 -699,660.00 -57,923.17

0.00

4/20/2017 12:58:30 Page 8 of 11PFS-PAXUS




Percent ofNAV


Market Value FCYLCY


Total Cost FCYLCY

Cost per ShareFCY


EA Group: <ALL>


Position: ShortSecurity type: Equity

Currency: USD

-0.5032%91.07000082.973226 -3,200.0000PROCTER & GAMBLE CO/THE -0.58%-291,424.00 -25,909.68-265,514.32 -355,272.30

-352,629.57 -387,040.21 -34,410.64

2,642.72

-0.4418%21.87000022.987149 -11,700.0000SALLY BEAUTY HOLDINGS INC -0.51%-255,879.00 13,070.64-268,949.64 -351,836.13

-357,192.02 -339,832.90 17,359.12

-5,355.89

-1.9393%207.995000185.043550 -5,400.0000SPDR DOW JONES INDUSTRIAL AVER -2.23%-1,123,173.00 -123,937.83-999,235.17 -1,337,348.82

-1,327,084.23 -1,491,686.06 -164,601.83

10,264.60

-3.6751%236.500000225.696000 -9,000.0000SPDR S&P 500 ETF TRUST -4.23%-2,128,500.00 -97,236.00-2,031,264.00 -2,735,016.12

-2,697,721.72 -2,826,860.85 -129,139.13

37,294.40

-0.1972%42.30000047.254189 -2,700.0000TEXAS ROADHOUSE INC -0.23%-114,210.00 13,376.31-127,586.31 -168,289.34

-169,447.38 -151,682.30 17,765.08

-1,158.04

-0.3309%33.04000034.083000 -5,800.0000TRUSTMARK CORP -0.38%-191,632.00 6,049.40-197,681.40 -261,473.19

-262,540.67 -254,506.46 8,034.21

-1,067.48

-0.2541%38.72000037.630425 -3,800.0000UNITED STATES STEEL CORP (US) -0.29%-147,136.00 -4,140.38-142,995.62 -187,200.61

-189,912.48 -195,411.32 -5,498.84

-2,711.86

-0.8597%57.89500055.664338 -8,600.0000WELLS FARGO & CO -0.99%-497,897.00 -19,183.69-478,713.31 -645,812.15

-635,779.15 -661,257.01 -25,477.86

10,033.00

Total for Short - Equity - USD

LCY

-21.1466% -24.31%-12,247,319.00 -602,242.81-11,645,076.19

-15,465,825.70

-15,567,174.72

-16,265,664.35 -799,838.67

101,349.04

Total for Short - Equity - LCY -34.2142% -39.34%-25,256,502.80 -25,357,851.82 -26,317,080.85 -1,060,578.07 101,349.04

Security type: Option

Currency: USD

-0.0044%0.0900001.279975 -280.0000SPY US 17 Mar 17 P210 -0.01%-2,520.00 33,319.30-35,839.30 -47,360.27

-47,598.17 -3,346.81 44,251.36

-237.90

Total for Short - Option - USD

LCY

-0.0044% -0.01%-2,520.00 33,319.30-35,839.30

-47,598.17

-47,360.27

-3,346.81 44,251.36

-237.90

Total for Short - Option - LCY -0.0044% -0.01%-47,598.17 -47,360.27 -3,346.81 44,251.36 -237.90

Total for Short - LCY -36.1247% -41.54%-26,757,096.45 -26,876,548.72 -27,786,577.68 -1,029,481.25 119,452.29

Total for Bank of Montreal Prime Brokerage - LCY 86.9712% 100.00%64,143,849.58 63,965,314.95 66,896,975.45 2,753,125.77 178,534.72

Total for <ALL> 64,143,849.58 63,965,314.95 66,896,975.45 2,753,125.77 178,534.72 86.9712% 100.00%

Grand Total - LCY 100.00%86.9712%63,965,314.9564,143,849.58 66,896,975.45 2,753,125.77 178,534.72

4/20/2017 12:58:30 Page 11 of 11PFS-PAXUS

Market ValueFCY

UnrealisedGain FCY

UnrealisedGain LCY

FX GainLCY


as of 1/31/2017SECURITIES COST

Cost LCYat current

FX rate

Cost per ShareFCY

Total CostFCY

Cost LCYHistorical

Market PriceFCY

PLSecurity Total Position

Bank of Montreal Prime BrokerageCounterpart:

LongPosition:

Equity - CADSecurity type:BANK OF MONTREAL (CN) 100.000000 10,000.00 98.430000 1100.0000 10,000.00 10,000.00 -157.00 -157.00 0.00 9,843.00

10,000.00Total for Long - Equity - CAD 10,000.00 10,000.00 -157.00 -157.00 0.00 9,843.00

-157.00 0.0010,000.00 10,000.00Total for Long - Equity

-157.00 0.0010,000.0010,000.00Total for Long

0.0010,000.00 10,000.00Total for Bank of Montreal Prime Brokerage -157.00

Canadian Imperial Bank of CommerceCounterpart:

ShortPosition:

Equity - CADSecurity type:BANK OF MONTREAL (CN) 100.000000 -10,000.00 98.430000 1-100.0000 -10,000.00 -10,000.00 157.00 157.00 0.00 -9,843.00

-10,000.00Total for Short - Equity - CAD -10,000.00 -10,000.00 157.00 157.00 0.00 -9,843.00

157.00 0.00-10,000.00 -10,000.00Total for Short - Equity

157.00 0.00-10,000.00-10,000.00Total for Short

0.00-10,000.00 -10,000.00Total for Canadian Imperial Bank of Commerce 157.00

TD Prime BrokerageCounterpart:

LongPosition:

Equity - CADSecurity type:CAMECO CORP 5.000000 100,000.00 16.570000 120,000.0000 100,000.00 100,000.00 231,400.00 231,400.00 0.00 331,400.00

100,000.00Total for Long - Equity - CAD 100,000.00 100,000.00 231,400.00 231,400.00 0.00 331,400.00

231,400.00 0.00100,000.00 100,000.00Total for Long - Equity

Future - USDSecurity type:NGU7 NYM Sep 17 3.300000 6,600,000.00 3.283000 1200.0000 8,739,720.00 8,587,920.00 -34,000.00 -44,240.80 0.00 6,566,000.00

6,600,000.00Total for Long - Future - USD 8,739,720.00 8,587,920.00 -34,000.00 -44,240.80 0.00 6,566,000.00

-44,240.80 0.008,739,720.00 8,587,920.00Total for Long - Future

187,159.20 0.008,687,920.008,839,720.00Total for Long

ShortPosition:

Future - USDSecurity type:NGJ7 NYM Apr 17 3.200000 -4,800,000.00 3.165000 1-150.0000 -6,329,760.00 -6,245,760.00 52,500.00 68,313.00 0.00 -4,747,500.00

-4,800,000.00Total for Short - Future - USD -6,329,760.00 -6,245,760.00 52,500.00 68,313.00 0.00 -4,747,500.00

68,313.00 0.00-6,329,760.00 -6,245,760.00Total for Short - Future

68,313.00 0.00-6,245,760.00-6,329,760.00Total for Short

0.002,509,960.00 2,442,160.00Total for TD Prime Brokerage 255,472.20

0.00255,472.20Grand Total 2,509,960.00 2,442,160.00

10/16/2017 10:41:36 Page 1 of 1PFS-PAXUS

SECURITIES UNSETTLED DEALS As of 2/28/2017


Buy transactions

Deal No Security SettlementDate

CCY Number CostPrice Market Price UnrealisedGain / Loss

Comm. &Oth. Chgs

MarketValue

SettlementInterest

Demo Long Short Fund LPCompany:



S77767 3/2/2017BANK OF NOVA SCOTIA/THE CAD 5,200. 415,462.3279.8966 77.04 78.00400,608.00-14,854.32 0.00

S77769 3/2/2017BANK OF NOVA SCOTIA/THE CAD 1,000. 80,415.0080.415 77.04 15.0077,040.00-3,375.00 0.00

S77933 3/3/2017CARGOJET INC CAD 1,700. 82,408.3548.4755 49. 25.5083,300.00891.65 0.00

S77662 3/15/2017INTERRENT REAL ESTATE INVEST CAD 46,000. 353,280.007.68 7.71 0.00354,660.001,380.00 0.00

S77664 3/15/2017INTERRENT REAL ESTATE INVEST CAD 36,600. 281,088.007.68 7.71 0.00282,186.001,098.00 0.00

S77666 3/15/2017INTERRENT REAL ESTATE INVEST CAD 18,000. 138,240.007.68 7.71 0.00138,780.00540.00 0.00

S77670 3/1/2017ISHARES S&P/TSX 60 INDEX ETF CAD 13,300. 304,969.0022.93 22.775 199.50302,907.50-2,061.50 0.00

S77781 3/2/2017ISHARES S&P/TSX 60 INDEX ETF CAD 16,700. 382,096.0022.88 22.775 250.50380,342.50-1,753.50 0.00

S77529 3/13/2017KILLAM APARTMENT REAL ESTATE CAD 13,200. 166,980.0012.65 12.68 0.00167,376.00396.00 0.00

S77672 3/1/2017MEDICURE INC CAD 2,000. 17,800.008.9 9. 26.7018,000.00200.00 0.00

S77787 3/2/2017MEDICURE INC CAD 3,300. 29,607.608.972 9. 44.4129,700.0092.40 0.00

S77940 3/3/2017MEDICURE INC CAD 100. 885.008.85 9. 1.33900.0015.00 0.00

S77674 3/1/2017METHANEX CORP CAD 3,500. 238,584.5068.167 67.69 52.50236,915.00-1,669.50 0.00

S77789 3/2/2017METHANEX CORP CAD 1,300. 90,451.1469.5778 67.69 19.5087,997.00-2,454.14 0.00

S77676 3/1/2017MTY FOOD GROUP INC CAD 700. 36,393.0051.99 52.09 10.5036,463.0070.00 0.00

S77948 3/3/2017THERATECHNOLOGIES INC CAD 33,400. 148,222.524.4378 4.54 222.33151,636.003,413.48 0.00

2,766,882.43 945.772,748,811.00-18,071.43 0.00Total for Counterpart - CAD - Equity

2,766,882.43 945.772,748,811.00-18,071.43 0.00Total for Counterpart - CAD


S77938 3/3/2017LOWE'S COS INC USD 1,200. 89,567.2874.6394 74.37 18.0089,244.00-323.28 0.00

S77791 3/2/2017NEWELL BRANDS INC USD 3,300. 165,418.7750.1269 49.03 49.50161,799.00-3,619.77 0.00

S77952 3/3/2017UNITED STATES STEEL CORP (US) USD 1,300. 51,998.0539.9985 38.72 19.5050,336.00-1,662.05 0.00

306,984.10 87.00301,379.00-5,605.10 0.00Total for Counterpart - USD - Equity

Security type: Option

S77929 3/1/2017BBRY US 03 Mar 17 P7 USD 400. 3,604.00.0901 .1 600.004,000.00396.00 0.00

S77935 3/1/2017CWST US 17 Mar 17 C12.5 USD 159. 2,385.00.15 .15 238.502,385.000.00 0.00

5,989.00 838.506,385.00396.00 0.00Total for Counterpart - USD - Option

312,973.10 925.50307,764.00-5,209.10 0.00Total for Counterpart - USD

Sell transactions



Comm. &Oth. Chgs

MarketValue

SettlementInterest




S77925 3/3/2017BANK OF MONTREAL CAD -3,300. -85,474.6225.9014 26. 49.50-85,800.00-325.38 0.00

S77927 3/3/2017BANK OF MONTREAL CAD -5,100. -132,126.2125.9071 26. 204.00-132,600.00-473.79 0.00

S77660 3/1/2017HUDSON'S BAY CO CAD -10,000. -122,158.0012.2158 12.34 300.00-123,400.00-1,242.00 0.00

S77779 3/2/2017INTERFOR CORP CAD -7,000. -124,950.0017.85 17.79 140.00-124,530.00420.00 0.00

4/20/2017 12:58:32 Page 1 of 2PFS-PAXUS

SECURITIES UNSETTLED DEALS As of 2/28/2017


Sell transactions



Comm. &Oth. Chgs

MarketValue

SettlementInterest




S77668 3/1/2017INTERRENT REAL ESTATE INVEST CAD -16,700. -128,256.007.68 7.71 250.50-128,757.00-501.00 0.00

S77785 3/2/2017LAURENTIAN BANK OF CANADA CAD -3,200. -188,803.2059.001 57.4 48.00-183,680.005,123.20 0.00

S77678 3/1/2017RAGING RIVER EXPLORATION INC CAD -33,800. -304,463.649.0078 8.99 676.00-303,862.00601.64 0.00

S77944 3/3/2017ROYAL BANK OF CANADA (TORONTO) CAD -10,000. -268,208.0026.8208 26.97 400.00-269,700.00-1,492.00 0.00

S77946 3/3/2017SEVENTH GENERATIONS ENERGY - A CAD -14,000. -339,605.0024.2575 24.61 210.00-344,540.00-4,935.00 0.00

S77950 3/3/2017TORONTO-DOMINION BANK PREF (TORONTO) CAD -18,800. -487,922.0425.9533 26. 752.00-488,800.00-877.96 0.00

S77680 3/1/2017TOURMALINE OIL CORP CAD -3,000. -90,150.0030.05 29.4 90.00-88,200.001,950.00 0.00

S77793 3/2/2017TRICON CAPITAL GROUP INC CAD -7,500. -78,375.0010.45 10.9 225.00-81,750.00-3,375.00 0.00

S77682 3/1/2017WEST FRASER TIMBER CO LTD CAD -4,000. -216,786.0054.1965 37.77 60.00-151,080.0065,706.00 0.00

-2,567,277.71 3,405.00-2,506,699.0060,578.71 0.00Total for Counterpart - CAD - Equity

-2,567,277.71 3,405.00-2,506,699.0060,578.71 0.00Total for Counterpart - CAD


S77655 3/1/2017ALPHABET INC CL C USD -475. -392,302.50825.9 823.07 15.68-390,958.251,344.25 0.00

S77921 3/3/2017ASBURY AUTOMOTIVE GROUP USD -1,400. -91,042.0065.03 65.075 22.98-91,105.00-63.00 0.00

S77923 3/3/2017BANCORPSOUTH INC USD -2,000. -61,900.0030.95 31. 31.35-62,000.00-100.00 0.00

S77771 3/2/2017BARRICK GOLD CORP (US) USD -3,900. -75,700.1719.4103 18.58 60.15-72,462.003,238.17 0.00

S77773 3/2/2017CABLE ONE INC USD -300. -192,912.00643.04 625.42 8.71-187,626.005,286.00 0.00

S77931 3/3/2017CABLE ONE INC USD -200. -125,610.00628.05 625.42 5.74-125,084.00526.00 0.00

S77777 3/2/2017HILLTOP HOLDINGS INC USD -3,000. -84,000.0028. 28.38 46.83-85,140.00-1,140.00 0.00

S77783 3/2/2017KRATON PERFORMANCE POLYMERS USD -4,174. -115,692.8527.7175 27.23 65.13-113,658.022,034.83 0.00

S77942 3/3/2017PEOPLE'S UNITED FINANCIAL USD -2,100. -40,194.0019.14 19.2 32.38-40,320.00-126.00 0.00

S77683 3/1/2017WEYERHAEUSER CO USD -5,900. -196,977.4033.386 33.72 240.29-198,948.00-1,970.60 0.00

-1,376,330.92 529.24-1,367,301.279,029.65 0.00Total for Counterpart - USD - Equity

-1,376,330.92 529.24-1,367,301.279,029.65 0.00Total for Counterpart - USD

4/20/2017 12:58:32 Page 2 of 2PFS-PAXUS

SECURITIES DIVIDEND OUTSTANDING AS OF 2/28/2017


Trans.Ref

Security PaymentMethod

ReinvestmentPrice

ReinvestmentPreference

Ex Date AccrualDate

PayableDate

CCY Gross Amountor Shares

Issuance Fee Net Amount Net Amount LcyEquivalent

Long Dividends - <ALL>

Bank of Montreal Prime Brokerage

Equity

V4579 MICROSOFT CORP (US) Cash Reinvest if price 2/14/2017 2/14/2017 3/9/2017 USD 4,173 0.00 3,547.05 4,710.84

V4822 TRANSALTA CORP Cash Reinvest if price 2/27/2017 2/27/2017 4/1/2017 CAD 10,010.24 0.00 10,010.24 10,010.24

V4839 TRANSALTA CORP (TORONTO) Cash Reinvest if price 2/27/2017 2/27/2017 3/31/2017 CAD 5,158.90 0.00 5,158.90 5,158.90

V4941 ENBRIDGE INC PFD CONVERTIBLE T Cash Reinvest if price 2/13/2017 2/13/2017 3/1/2017 CAD 2,925 0.00 2,925 2,925.00

V5256 WALGREENS BOOTS ALLIANCE INC Cash Reinvest if price 2/13/2017 2/13/2017 3/10/2017 USD 2,100 0.00 1,785 2,370.66

V5401 NORBORD INC Cash Reinvest if price 2/27/2017 2/27/2017 3/21/2017 CAD 830 0.00 830 830.00

V5426 CABLE ONE INC Cash Reinvest if price 2/16/2017 2/16/2017 3/10/2017 USD 1,800 0.00 1,530 2,031.99

V5466 SUPERIOR PLUS CORP Cash Reinvest if price 2/24/2017 2/24/2017 3/15/2017 CAD 3,138 0.00 3,138 3,138.00

V5468 ENTERCOM COMMUNICATIONSCORP

Cash Reinvest if price 2/24/2017 2/24/2017 3/15/2017 USD 5,190.23 0.00 4,411.70 5,859.18

V5491 NORTHLAND POWER INC Cash Reinvest if price 2/24/2017 2/24/2017 3/15/2017 CAD 9,369 0.00 9,369 9,369.00

V5493 PARKLAND FUEL CORP Cash Reinvest if price 2/21/2017 2/21/2017 3/15/2017 CAD 2,409.75 0.00 2,409.75 2,409.75

V5524 CHORUS AVIATION INC Cash Reinvest if price 2/24/2017 2/24/2017 3/16/2017 CAD 6,588 0.00 6,588 6,588.00

V5528 EXTENDICARE INC Cash Reinvest if price 2/24/2017 2/24/2017 3/15/2017 CAD 1,752 0.00 1,752 1,752.00

V5536 BARRICK GOLD CORP (US) Cash Reinvest if price 2/24/2017 2/24/2017 3/15/2017 USD 558 0.00 474.30 629.92

V5537 MILESTONE APARTMENTS REALESTA

Cash Cash 2/24/2017 2/24/2017 3/15/2017 USD 2,197.88 0.00 2,197.88 2,919.00

V5554 CATCHMARK TIMBER TRUST INC-A Cash Reinvest if price 2/24/2017 2/24/2017 3/16/2017 USD 4,846.50 0.00 4,119.52 5,471.13

V5556 PURE MULTI-FAMILY REIT LP Cash Cash 2/24/2017 2/24/2017 3/15/2017 USD 1,568.75 0.00 1,568.75 2,083.46

V5557 GRANITE REAL ESTATE INVESTMENT Cash Reinvest if price 2/24/2017 2/24/2017 3/15/2017 CAD 7,139.30 0.00 7,139.30 7,139.30

V5564 DREAM INDUSTRIAL REAL ESTATE Cash Reinvest if price 2/24/2017 2/24/2017 3/15/2017 CAD 2,391.53 0.00 2,391.53 2,391.53

V5566 KILLAM APARTMENT REAL ESTATE Cash Reinvest if price 2/24/2017 2/24/2017 3/15/2017 CAD 3,300 0.00 3,300 3,300.00

V5580 BOYD GROUP INCOME FUND Cash Reinvest if price 2/24/2017 2/24/2017 3/29/2017 CAD 503.10 0.00 503.10 503.10

V5591 AGELLAN COMMERCIAL REALESTATE

Cash Cash 2/24/2017 2/24/2017 3/15/2017 CAD 1,498.26 0.00 1,498.26 1,498.26

V5650 ALLERGAN INC Cash Reinvest if price 2/24/2017 2/24/2017 3/28/2017 USD 840 0.00 714 948.26

84,037.52Equity Total

Counterpart Total 84,037.52

Long Dividends Total 84,037.52

Short Dividends - <ALL>


Equity

V4638 FORTIS INC/CANADA Cash Reinvest if price 2/14/2017 2/14/2017 3/1/2017 CAD -2,640 0.00 -2,640 -2,640.00

V5209 INTEL CORP Cash Reinvest if price 2/3/2017 2/3/2017 3/1/2017 USD -3,510 0.00 -3,510 -4,661.63

V5222 TRUSTMARK CORP Cash Reinvest if price 2/27/2017 2/27/2017 3/15/2017 USD -1,334 0.00 -1,334 -1,771.69

V5228 WELLS FARGO & CO Cash Reinvest if price 2/1/2017 2/1/2017 3/1/2017 USD -3,268 0.00 -3,268 -4,340.23

V5253 POLARIS INDUSTRIES INC Cash Reinvest if price 2/27/2017 2/27/2017 3/15/2017 USD -754 0.00 -754 -1,001.39

V5449 THOMSON REUTERS CORP Cash Cash 2/21/2017 2/21/2017 3/15/2017 USD -1,104 0.00 -1,104 -1,466.22

V5471 HONEYWELL INTERNATIONAL INC Cash Reinvest if price 2/22/2017 2/22/2017 3/10/2017 USD -1,995 0.00 -1,995 -2,649.56

V5480 GENERAL ELECTRIC CO Cash Reinvest if price 2/23/2017 2/23/2017 4/25/2017 USD -3,720 0.00 -3,720 -4,940.53

V5484 NEWELL BRANDS INC Cash Reinvest if price 2/24/2017 2/24/2017 3/15/2017 USD -627 0.00 -627 -832.72

12:58:324/20/2017 Page 1 of 2PFS-PAXUS

SECURITIES DIVIDEND OUTSTANDING AS OF 2/28/2017


Trans.Ref

Security PaymentMethod

ReinvestmentPrice

ReinvestmentPreference

Ex Date AccrualDate

PayableDate

CCY Gross Amountor Shares

Issuance Fee Net Amount Net Amount LcyEquivalent

Short Dividends - <ALL>


Equity

V5494 ENBRIDGE INC Cash Reinvest if price 2/13/2017 2/13/2017 3/1/2017 CAD -3,964.40 0.00 -3,964.40 -3,964.40

V5504 CUMMINS INC Cash Reinvest if price 2/22/2017 2/22/2017 3/6/2017 USD -2,357.50 0.00 -2,357.50 -3,131.00

V5561 DREAM OFFICE REAL ESTATE INVES Cash Reinvest if price 2/24/2017 2/24/2017 3/15/2017 CAD -1,250 0.00 -1,250 -1,250.00

V5569 SPDR DOW JONES INDUSTRIALAVER

Cash Reinvest if price 2/17/2017 2/17/2017 3/13/2017 USD -3,026.86 0.00 -3,026.86 -4,019.97

V5585 ALLIED PROPERTIES REAL ESTAT Cash Reinvest if price 2/24/2017 2/24/2017 3/15/2017 CAD -1,224 0.00 -1,224 -1,224.00

V5588 BOARDWALK REAL ESTATEINVESTME

Cash Reinvest if price 2/24/2017 2/24/2017 3/15/2017 CAD -3,075 0.00 -3,075 -3,075.00

V5656 INTERRENT REAL ESTATE INVEST Cash Reinvest if price 2/24/2017 2/24/2017 3/15/2017 CAD -931.50 0.00 -931.50 -931.50

V5657 PEYTO EXPLORATION &DEVELOPMEN

Cash Reinvest if price 2/24/2017 2/24/2017 3/15/2017 CAD -1,155 0.00 -1,155 -1,155.00

V5666 TRANSALTA RENEWABLES INC Cash Reinvest if price 2/27/2017 2/27/2017 3/31/2017 CAD -2,749.88 0.00 -2,749.88 -2,749.88

-45,804.72Equity Total

Counterpart Total -45,804.72

Short Dividends Total -45,804.72

Company Total 38,232.80

12:58:324/20/2017 Page 2 of 2PFS-PAXUS

RecordDate

Quantity OfShares

Gross DividendAmount

CCY Local CurrencyAmount

WithholdTax exp.

WithholdTax rec.

Net Amount Net Amount Lcy Type


EX DATES IN THE PERIOD 31 JAN 2017 TO 28 FEB 2017

SECURITY DIVIDENDS REPORT

CommentsAmountPer Share

Issuance FeePer Share

Trans.Ref

PayableDate

Ex Date AccrualDate

Cash dividends


Long positions

AGELLAN COMMERCIAL REAL ESTATE - <ALL>

2/28/2017 23,200.000000V5591 1,498.26 CAD 1,498.26 0.00 0.00 1,498.26 1,498.260.064580 0.0000 RE (regular cash);(Gross Dividend)

3/15/2017 2/24/2017 2/24/2017

BOYD GROUP INCOME FUND - <ALL>

2/28/2017 11,700.000000V5580 503.10 CAD 503.10 0.00 0.00 503.10 503.100.043000 0.0000 RE (regular cash);(Gross Dividend)

3/29/2017 2/24/2017 2/24/2017

CHORUS AVIATION INC - <ALL>


3/16/2017 2/24/2017 2/24/2017

DIVERSIFIED ROYALTY CORP - <ALL>


2/28/2017 2/9/2017 2/9/2017

DREAM INDUSTRIAL REAL ESTATE - <ALL>


3/15/2017 2/24/2017 2/24/2017

ENBRIDGE INC PFD CONVERTIBLE T - <ALL>


3/1/2017 2/13/2017 2/13/2017

EXTENDICARE INC - <ALL>


3/15/2017 2/24/2017 2/24/2017

GRANITE REAL ESTATE INVESTMENT - <ALL>


3/15/2017 2/24/2017 2/24/2017

KILLAM APARTMENT REAL ESTATE - <ALL>


3/15/2017 2/24/2017 2/24/2017

2/28/2017 66,000.000000V6039 -3,300.00 CAD -3,300.00 -3,300.00 -3,300.00-0.050000 0.0000 RE (regular cash);(Gross Dividend)

3/15/2017 2/24/2017 3/15/2017

2/28/2017 66,000.000000V6041 2,640.00 CAD 2,640.00 0.00 0.00 2,640.00 2,640.000.040000 0.0000 SP dividend is .05 butdue to new issue,the actual share thatis eglible for dividendis 52,800. Thereforeadjusting dividendamount per share tomatch dividendreceived.

3/15/2017 2/24/2017 3/15/2017

NORBORD INC - <ALL>

3/1/2017 8,300.000000V5401 830.00 CAD 830.00 0.00 0.00 830.00 830.000.100000 0.0000 RE (regular cash);(Gross Dividend)

3/21/2017 2/27/2017 2/27/2017

NORTHLAND POWER INC - <ALL>


3/15/2017 2/24/2017 2/24/2017

PARKLAND FUEL CORP - <ALL>


3/15/2017 2/21/2017 2/21/2017

SUPERIOR PLUS CORP - <ALL>


3/15/2017 2/24/2017 2/24/2017

4/20/2017 12:58:32 Page 1 of 5PFS-PAXUS

RecordDate

Quantity OfShares

Gross DividendAmount

CCY Local CurrencyAmount

WithholdTax exp.

WithholdTax rec.

Net Amount Net Amount Lcy Type


EX DATES IN THE PERIOD 31 JAN 2017 TO 28 FEB 2017

SECURITY DIVIDENDS REPORT

CommentsAmountPer Share

Issuance FeePer Share

Trans.Ref

PayableDate

Ex Date AccrualDate

Cash dividends


Long positions

TRANSALTA CORP - <ALL>


4/1/2017 2/27/2017 2/27/2017

TRANSALTA CORP (TORONTO) - <ALL>


3/31/2017 2/27/2017 2/27/2017

Counterpart CAD Total 58,390.63 0.00 0.00 58,390.63 58,390.6358,390.63

ALLERGAN INC - <ALL>

2/28/2017 1,200.000000V5650 840.00 USD 1,101.16 126.00 0.00 714.00 935.980.700000 0.0000 RE (regular cash);(Gross Dividend)

3/28/2017 2/24/2017 2/24/2017

3/28/2017 1,200.000000V6031 -840.00 USD -1,124.17 -126.00 0.00 -714.00 -955.55-0.700000 0.0000 RE (regular cash);(Gross Dividend)

3/28/2017 2/24/2017 3/28/2017

3/28/2017 1,200.000000V6032 840.00 USD 1,124.17 168.00 0.00 672.00 899.340.700000 0.0000 SP (regular cash);(Gross Dividend)

3/28/2017 2/24/2017 3/28/2017

BARRICK GOLD CORP (US) - <ALL>

2/28/2017 18,600.000000V5536 558.00 USD 731.48 83.70 0.00 474.30 621.760.030000 0.0000 RE (regular cash);(Gross Dividend)

3/15/2017 2/24/2017 2/24/2017

3/15/2017 18,600.000000V6029 -558.00 USD -742.53 -83.70 0.00 -474.30 -631.15-0.030000 0.0000 RE (regular cash);(Gross Dividend)

3/15/2017 2/24/2017 3/15/2017

3/15/2017 18,600.000000V6030 558.00 USD 742.53 0.00 0.00 558.00 742.530.030000 0.0000 SP (regular cash);(Gross Dividend)

3/15/2017 2/24/2017 3/15/2017

CABLE ONE INC - <ALL>

2/21/2017 1,200.000000V5426 1,800.00 USD 2,354.40 270.00 0.00 1,530.00 2,001.241.500000 0.0000 RE (regular cash);(Gross Dividend)

3/10/2017 2/16/2017 2/16/2017

CATCHMARK TIMBER TRUST INC-A - <ALL>


3/16/2017 2/24/2017 2/24/2017

COSTCO WHOLESALE CORP - <ALL>

2/10/2017 1,900.000000V5286 855.00 USD 1,124.75 128.25 0.00 726.75 956.040.450000 0.0000 RE (regular cash);(Gross Dividend)

2/24/2017 2/8/2017 2/8/2017

ENTERCOM COMMUNICATIONS CORP - <ALL>


3/15/2017 2/24/2017 2/24/2017

ENVIVA PARTNERS LP - <ALL>

2/15/2017 19,791.000000V5391 10,588.19 USD 13,844.06 4,192.92 0.00 6,395.27 8,361.820.535000 0.0000 RE (partnership dst);(Gross Dividend)

2/28/2017 2/13/2017 2/13/2017

MICROSOFT CORP (US) - <ALL>


3/9/2017 2/14/2017 2/14/2017

MILESTONE APARTMENTS REAL ESTA - <ALL>

2/28/2017 43,600.000000V5537 2,197.88 USD 2,881.20 0.00 0.00 2,197.88 2,881.200.050410 0.0000 RE (regular cash);Foreign currencyDividend amount =0.05 USD; (GrossDividend)

3/15/2017 2/24/2017 2/24/2017

POLARIS INFRASTRUCTURE INC (CA) - <ALL>

2/17/2017 28,900.000000V5430 3,468.00 USD 4,534.41 0.00 0.00 3,468.00 4,534.410.120000 0.0000 RE (regular cash);Foreign currencyDividend amount =0.12 USD; (GrossDividend)

2/22/2017 2/15/2017 2/15/2017

4/20/2017 12:58:32 Page 2 of 5PFS-PAXUS


BOND ACCRUALS AS OF 2/28/2017

Long positions

CCY Type Security Day CountMethod

Number Next CouponDate

Accrued Interest Accrued InterestLCY (CAD)

Withholding TaxFCY

Prev. CouponDate

CouponRate


CAD Bond 5N PLUS INC Jun 19 5.75% ACT/ACT 203,000 12/31/2016 6/30/2017 0.001,934.671,934.675.7500%

CAD Bond BMO BANK LOAN - 03/14/17 30/360 7,500,000 1/1/2017 3/14/2017 0.000.000.000.0000%



CAD Bond CENTRIC HEALTH CORP Oct 17 6.75% act/act 1,653,000 10/31/2016 4/30/2017 0.0037,295.2437,295.246.7500%

CAD Bond CHEMTRADE LOGISTICS INC 5% 08/31/2023 act/act 450,000 2/28/2017 8/31/2017 0.0061.1461.145.0000%

CAD Bond CHEMTRADE LOGISTICS INC Dec 18 5.75% ACT/ACT 154,000 12/31/2016 6/30/2017 0.001,467.681,467.685.7500%

CAD Bond LOYALIST CONV DEBT 7.5% DUE 11/30/18 30/360 375,000 10/31/2016 4/30/2017 0.000.000.000.0000%

CAD Bond NYX GAMING GROUP LTD Dec 19 10% 30/360 540,000 12/31/2016 6/30/2017 0.009,150.009,150.0010.0000%

CAD Bond PATIENT HOME MONITORING Dec 19 7.5% ACT/ACT 521,000 12/31/2016 6/30/2017 0.006,476.526,476.527.5000%

CAD Bond TRANSGLOBE ENERGY CORP Mar 17 6% act/act 120,000 9/30/2016 3/31/2017 0.003,006.593,006.596.0000%

CAD Bond Yellow Pages Digital & M 8% 11/30/2022 act/act 120,000 11/30/2016 5/31/2017 0.002,400.002,400.008.0000%

Bond 0.0061,791.84Total 61,791.84

CAD 0.00Total 61,791.84 61,791.84

Bank of Montreal Prime Brokerage 61,791.84Total

Grand Total for Long: 61,791.84

Grand Total for Short: 0.00

12:58:324/20/2017 Page 1 of 1PFS-PAXUS

Currency CADBOND INCOME REPORT BETWEEN FEBRUARY 01, 2017 AND FEBRUARY 28, 2017


Security Type Start Accrual End Accrual Movement Interest Income Income Local CcyWithholding Tax

FCYCcy

Bank of Montreal Prime BrokerageBond 1,031.82 1,934.67 0.00 902.85902.85 0.00CAD5N PLUS INC Jun 19 5.75%

Bond 28,664.94 37,295.24 0.00 8,630.308,630.30 0.00CADCENTRIC HEALTH CORP Oct 17 6.75%

Bond 9,571.82 61.14 -11,250.00 1,739.321,739.32 0.00CADCHEMTRADE LOGISTICS INC 5% 08/31/2023

Bond 782.76 1,467.68 0.00 684.92684.92 0.00CADCHEMTRADE LOGISTICS INC Dec 18 5.75%

Bond 4,650.00 9,150.00 0.00 4,500.004,500.00 0.00CADNYX GAMING GROUP LTD Dec 19 10%

Bond 3,454.14 6,476.52 0.00 3,022.383,022.38 0.00CADPATIENT HOME MONITORING Dec 19 7.5%

Bond 2,452.75 3,006.59 0.00 553.85553.85 0.00CADTRANSGLOBE ENERGY CORP Mar 17 6%

Bond 1,661.54 2,400.00 0.00 738.46738.46 0.00CADYellow Pages Digital & M 8% 11/30/2022

61,791.8452,269.78 -11,250.00 20,772.07 20,772.07 0.00Total for Bond - CAD

20,772.07Total for Bond

20,772.07Total for Bank of Montreal Prime Brokerage

20,772.07Grand total

4/20/2017 12:58:33 Page 1 of 1PFS-PAXUS


As of 2/28/2017MANAGEMENT FEES

Series Investment manager CCY Calculated assetbase

Fee percentFee applicationTotal fee amountfor period

BasePE Catch-upamount

Class Trust - A, Series 2017-02 Demo Asset Management Inc. CAD 0.18833333Valuation periodEnd183.9397,661.43

Class F, Series 2017-02 Demo Asset Management Inc. CAD 0.09416667Valuation periodEnd4.654,932.80

Class A, Series 2017-02 Demo Asset Management Inc. CAD 0.18833333Valuation periodEnd1,198.42636,330.56

Class Trust - F, Series 2014-06 (InitialSeries)

Demo Asset Management Inc. CAD 0.09416667Valuation periodEnd35,593.8037,798,730.88

Class Trust - A, Series 2014-06 (InitialSeries)

Demo Asset Management Inc. CAD 0.18833333Valuation periodEnd15,229.978,086,708.46

Class A, Series 2013-11 (Initial Series) Demo Asset Management Inc. CAD 0.18833333Valuation periodEnd12,145.716,449,051.68

Class F, Series 2012-08 (Initial Series) Demo Asset Management Inc. CAD 0.09416667Valuation periodEnd20,944.5922,242,038.61

Class Trust - F, Series 2017-02 Demo Asset Management Inc. CAD 0.09416667Valuation periodEnd1,591.401,689,984.55

Totals 86,892.470.0077,005,438.97

4/20/2017 12:58:33 Page 1 of 1PFS-PAXUS

For period ending 2/28/2017ADMINISTRATION FEESDemo Long Short Fund LP

Company Fee in Fund CCYCalculated Asset Base Fee in Payment CCY

Demo Long Short Fund LP CAD CAD CAD4,616.92 4,616.9278,058,482.86

78,058,482.86 CAD 4,616.92 CAD

Terms used to calculate the above fee amounts

CAD

Opening + capital movements

Minimum charge per period:

Previous valuation date:

Fee terms valid from:

CADAssets - Assets - CAD

Asset Tiers

TierTier Fee %Fee %

0.00659166550,000,000 61

0.0047083333 72

83

94

105

1,695.00

31 January, 2017

01 January, 2016

Pinnacle Fund ServicesAdministrator:

Base:

Payment frequency:

Period calculation:

Tier method:

Monthly

Fractional

Bracket

4/20/2017 Page 1 of 112:58:33 PFS-PAXUS

PERFORMANCE FEES CALCULATION AS OF 2/28/2017 (% OF PROFITS FORMAT) CADLocal Currency:


HWMSet

HurdleAmount

ProfitAllocation

Hurdle Rate Start VSHWM

PerformanceProfits

End VSHWM

Total FeeAccrued

Series FeeAccrued

Fee%

-129,471.290.000.000.00-29,462.920.00-100,008.37Class A, Series 2013-11 (Initial Series) No20.00%

-9,867.860.000.000.000.000.00-9,867.86Class A, Series 2017-02 No20.00%

Class A, Series 2017-03 Yes20.00%

-404,241.300.000.000.00-80,268.490.00-323,972.82Class F, Series 2012-08 (Initial Series) No10.00%

-71.850.000.000.000.000.00-71.85Class F, Series 2017-02 No10.00%

Class F, Series 2017-03 Yes10.00%

-164,332.500.000.000.00-38,264.580.00-126,067.93Class Trust - A, Series 2014-06 (Initial Series) No20.00%

-1,522.500.000.000.000.000.00-1,522.50Class Trust - A, Series 2017-02 No20.00%

Class Trust - A, Series 2017-03 Yes20.00%

-696,241.620.000.000.00-142,571.260.00-553,670.37Class Trust - F, Series 2014-06 (Initial Series) No20.00%

-24,754.650.000.000.000.000.00-24,754.65Class Trust - F, Series 2017-02 No20.00%

Class Trust - F, Series 2017-03 Yes20.00%

CAD Totals 0.00 -290,567.25 0.00 0.00 0.00 -1,430,503.57-1,139,936.35

12:58:334/20/2017 Page 1 of 1PFS-PAXUS


Local currency :CAD

SECURITIES PROFIT AND LOSS COMBINED FOR THE PERIOD January 31, 2017 to February 28, 2017

DividendExpense

DividendIncome

BondIncome

UnrealisedFX Gain

UnrealisedRealisedFX Gain

RealisedSecurity Total

EA Group: <ALL>

Counterpart: BMO PB

Security Type: Bond

2,181.750.000.00902.850.001,278.900.000.005N PLUS INC Jun 19 5.75%

921.290.000.000.000.00-3,838.710.004,760.00BMO BANK LOAN - 02/13/17

6,210.000.000.000.000.00-7,590.000.0013,800.00BMO BANK LOAN - 02/28/17

4,812.490.000.000.000.004,812.490.000.00BMO BANK LOAN - 03/14/17

1,715.180.000.000.000.001,715.180.000.00BMO BANK LOAN - 03/15/17

0.000.000.000.000.000.000.000.00BMO BANK LOAN - 03/31/17

8,630.300.000.008,630.300.000.000.000.00CENTRIC HEALTH CORP Oct 17 6.75%

5,361.820.000.001,739.320.003,622.500.000.00CHEMTRADE LOGISTICS INC 5% 08/31/2023

777.320.000.00684.920.0092.400.000.00CHEMTRADE LOGISTICS INC Dec 18 5.75%

0.000.000.000.000.000.000.000.00LOYALIST CONV DEBT 7.5% DUE 11/30/18

2,448.010.000.004,500.000.00-2,051.990.000.00NYX GAMING GROUP LTD Dec 19 10%

14,145.730.000.003,022.380.0011,123.350.000.00PATIENT HOME MONITORING Dec 19 7.5%

913.850.000.00553.850.00360.000.000.00TRANSGLOBE ENERGY CORP Mar 17 6%

-20,261.540.000.00738.460.00-21,000.000.000.00Yellow Pages Digital & M 8% 11/30/2022

20,772.070.00-11,475.880.0018,560.00Total for Bond : 0.00 0.00 27,856.19

Security Type: Equity

-8,064.00-837.900.000.000.00-8,064.000.000.00A&W REVENUE ROYALTIES IN-UTS

16,599.010.000.000.000.0016,599.010.000.00ADVANTAGE OIL & GAS LTD

-486.410.000.000.000.00-34,035.010.0033,548.60AECON GROUP INC

4,746.230.001,498.260.000.003,247.970.000.00AGELLAN COMMERCIAL REAL ESTATE

10,675.200.000.000.000.0010,675.200.000.00AGT FOOD & INGREDIENTS INC

345.000.000.000.000.00345.000.000.00AIR CANADA

-15,440.640.000.000.000.00-15,440.640.000.00ALIMENTATION COUCHE-TARD INC

60,738.120.00935.980.009,300.5236,442.51-2,294.3616,353.46ALLERGAN INC

-8,189.16-1,224.000.000.000.00-3,110.600.00-5,078.56ALLIED PROPERTIES REAL ESTAT

21,797.360.000.000.005,942.6612,811.81-2,175.955,218.84ALPHABET INC CL C

63,211.280.000.000.0023,545.1939,666.090.000.00AMAZON.COM INC (US)

-22,457.080.000.000.006,805.36-29,262.430.000.00ARRIS INTERNATIONAL PLC

-12,575.930.000.000.00-2,578.84-5,034.16-354.48-4,608.45ASBURY AUTOMOTIVE GROUP

5,544.010.000.000.000.005,544.010.000.00ATCO LTD/CANADA

-9,328.140.000.000.000.00-9,328.140.000.00ATHABASCA OIL CORP

43,727.410.000.000.00-7,016.2050,743.610.000.00AUTONATION INC

-2,945.870.000.000.000.009,570.980.00-12,516.85AVIGILON CORP

-21,346.670.000.000.00-6,954.06-14,392.610.000.00BANCORPSOUTH INC

4,559.830.000.000.000.00-3,041.000.007,600.83BANK OF MONTREAL

-11,677.310.000.000.000.0048,989.460.00-60,666.77BANK OF NOVA SCOTIA/THE

11,018.710.000.000.0013,253.05-2,234.340.000.00BANK OF THE OZARKS

12:58:444/20/2017 Page 1 of 8PFS-PAXUS

Period: to 2/28/20172/1/2017SECURITIES REALISED PROFIT AND LOSS

Include profit adjustment: Yes

DealRef

FX GainLCY

RealisedLCY

RealisedFCY

Gross AmountLCY

Gross AmountFCY

Closing PriceShares Cost Price Total GainLCY


Security (Identifier)Settle.Date

TradeDate

<ALL>Equity attribution group:


CAD BondSecurity type:

S76078 4,760.004,760.003,500,000.003,500,000.003,500,000.000000 99.86 100.000000 4,760.00BMO BANK LOAN - 02/13/17 (T:BMO02/13/17)

2/13/20172/13/2017

S76077 13,800.0013,800.0010,000,000.0010,000,000.0010,000,000.000000 99.86 100.000000 13,800.00BMO BANK LOAN - 02/28/17 (T:BMO02/28/17)

2/28/20172/28/2017

Total for CAD Bond 0.0018,560.0018,560.0013,500,000.0013,500,000.00 18,560.00

Total for Bond 0.0018,560.0013,500,000.00 18,560.00

CAD EquitySecurity type:

S76149 31,798.6031,798.60405,638.59405,638.5925,100.000000 14.89 16.160900 31,798.60AECON GROUP INC (T:ARE CN)2/14/20172/9/2017

S77286 1,750.001,750.00588,000.00588,000.0035,000.000000 16.75 16.800000 1,750.00AECON GROUP INC (T:ARE CN)2/24/20172/21/2017

S77506 -5,078.56-5,078.56-223,663.23-223,663.23-6,300.000000 34.70 35.502100 -5,078.56ALLIED PROPERTIES REAL ESTAT(T:AP-U)

2/28/20172/23/2017

S76153 -12,516.85-12,516.85-88,023.87-88,023.87-5,900.000000 12.80 14.919300 -12,516.85AVIGILON CORP (T:AVO)2/14/20172/9/2017

S77927 4,626.214,626.21132,126.21132,126.215,100.000000 25.00 25.907100 4,626.21BANK OF MONTREAL (T:BMO 4.85)3/3/20172/28/2017

S77925 2,974.622,974.6285,474.6285,474.623,300.000000 25.00 25.901400 2,974.62BANK OF MONTREAL (T:BMO 4.85)3/3/20172/28/2017

S77769 -10,219.75-10,219.75-80,415.00-80,415.00-1,000.000000 70.20 80.415000 -10,219.75BANK OF NOVA SCOTIA/THE (T:BNSCN)

3/2/20172/27/2017

S77767 -50,447.02-50,447.02-415,462.32-415,462.32-5,200.000000 70.20 79.896600 -50,447.02BANK OF NOVA SCOTIA/THE (T:BNSCN)

3/2/20172/27/2017

S75936 -33,309.25-33,309.25138,465.00138,465.0018,100.000000 9.49 7.650000 -33,309.25BIRCHCLIFF ENERGY LTD (T:BIR CN)2/9/20172/6/2017

S77510 -2,196.77-2,196.77157,600.00157,600.00800.000000 199.75 197.000000 -2,196.77CANADIAN PACIFIC RAILWAY LTD(T:CP CN)

2/28/20172/23/2017

S75975 -150.73-150.73-30,096.60-30,096.60-2,000.000000 14.97 15.048300 -150.73CANFOR CORP (T:CFP CN)2/10/20172/7/2017

S76162 -7.49-7.49-82.35-82.35-5.000000 14.97 16.469800 -7.49CANFOR CORP (T:CFP CN)2/14/20172/9/2017

S76159 -17,690.20-17,690.20-270,657.90-270,657.90-16,895.000000 14.97 16.020000 -17,690.20CANFOR CORP (T:CFP CN)2/14/20172/9/2017

S76762 21,957.5921,957.59189,744.48189,744.4813,800.000000 12.16 13.749600 21,957.59CASCADES INC (T:CAS CA)2/21/20172/15/2017



S76764 15,901.6415,901.64-236,086.00-236,086.00-400.000000 629.97 590.215000 15,901.64CONSTELLATION SOFTWARE INC(T:CSU)

2/21/20172/15/2017

S77034 2,123.642,123.64-76,622.50-76,622.50-125.000000 629.97 612.980000 2,123.64CONSTELLATION SOFTWARE INC(T:CSU)

2/22/20172/16/2017

S76415 54,012.9254,012.92388,602.00388,602.0020,000.000000 16.73 19.430100 54,012.92DETOUR GOLD CORP (T:DGC CN)2/16/20172/13/2017

S77036 -5,607.01-5,607.01-158,574.00-158,574.00-2,600.000000 58.83 60.990000 -5,607.01EQUITABLE GROUP INC (T:EQB)2/22/20172/16/2017

S77080 -6,452.54-6,452.54-71,169.34-71,169.34-1,100.000000 58.83 64.699400 -6,452.54EQUITABLE GROUP INC (T:EQB)2/23/20172/17/2017

S76772 -13,205.76-13,205.76-320,733.49-320,733.49-12,100.000000 25.42 26.506900 -13,205.76FINNING INTERNATIONAL INC (T:FTT)2/21/20172/15/2017

S75917 12,091.6712,091.67104,000.00104,000.0010,000.000000 9.19 10.400000 12,091.67HUDSON'S BAY CO (T:HBC)2/8/20172/3/2017




S76172 -589.94-589.94-24,050.00-24,050.00-1,000.000000 23.46 24.050000 -589.94HYDRO ONE LTD (T:H)2/14/20172/9/2017

S76279 -7,047.43-7,047.43-149,988.01-149,988.01-3,700.000000 38.63 40.537300 -7,047.43IGM FINANCIAL INC (T:IGM CN)2/15/20172/10/2017

S77042 33,510.2533,510.25187,512.00187,512.0010,400.000000 14.81 18.030000 33,510.25INTERFOR CORP (T:IFP CN)2/22/20172/16/2017



S75788 2,947.072,947.0774,186.0074,186.009,800.000000 7.27 7.570000 2,947.07INTERRENT REAL ESTATE INVEST(T:IIP-U)

2/6/20172/1/2017

4/20/2017 12:58:46 Page 1 of 6PFS-PAXUS


Security/Category End MV % Period Perf. Sector

PERFORMANCE ATTRIBUTION FROM 2/1/2017 TO 2/28/2017

Long Positions0.001DGC CN 03 Feb 17 C16 .00 -.02 Basic Materials

2,680.001XIU CN 03 Mar 17 C23 .00 -.01 Funds

190,068.905N PLUS INC Jun 19 5.75% .25 .00 Basic Materials

0.00AECON GROUP INC .00 -.00 Industrial

265,872.00AGELLAN COMMERCIAL REAL ESTATE .35 .01 Financial

461,610.00AIR CANADA .60 .00 Consumer, Cyclical

377,984.00ALIMENTATION COUCHE-TARD INC .49 -.02 Consumer, Cyclical

390,134.69ALLERGAN INC .51 .07 Consumer, Non-cyclical

0.00ALPHABET INC CL C .00 .02 Technology

1,318,699.71AMAZON.COM INC (US) 1.71 .05 Communications

675.00AP CN 17 Mar 17 P34 .00 -.00 Financial

322,278.07ARRIS INTERNATIONAL PLC .42 -.04 Communications

0.00ATD CN 17 Feb 17 C62 .00 -.00 Consumer, Cyclical

438,709.00ATHABASCA OIL CORP .57 -.01 Energy

387,400.00BANK OF MONTREAL .50 .01 Financial

690,525.67BANK OF THE OZARKS .90 -.00 Financial

362,738.64BARRICK GOLD CORP (US) .47 .02 Basic Materials

5,312.40BBRY US 03 Mar 17 P7 .01 -.00 Technology

0.00BBRY US 17 Feb 17 C7.5 .00 -.00 Technology

0.00BCB CN 17 Feb 17 C15 .00 -.00 Consumer, Non-cyclical

2,714.00BCB CN 17 Mar 17 C15 .00 -.01 Consumer, Non-cyclical

495.00BCB CN 17 Mar 17 C16 .00 -.00 Consumer, Non-cyclical

0.00BIRCHCLIFF ENERGY LTD .00 -.01 Energy

1,971,654.76BLACKBERRY LTD (US) 2.56 -.04 Technology

0.00BMO BANK LOAN - 02/13/17 .00 .00

0.00BMO BANK LOAN - 02/28/17 .00 .01

7,497,637.50BMO BANK LOAN - 03/14/17 9.75 .01

5,248,407.68BMO BANK LOAN - 03/15/17 6.82 .00

9,993,200.00BMO BANK LOAN - 03/31/17 12.99 .00

710,187.50BNK PETROLEUM INC .92 -.05 Energy

1,009,359.00BOYD GROUP INCOME FUND 1.31 .03 Consumer, Non-cyclical

221,255.00BRP INC/CA- SUB VOTING .29 -.00 Consumer, Cyclical

581,434.21CABLE ONE INC .76 .00 Communications

762,177.00CANADIAN PACIFIC RAILWAY LTD .99 -.01 Industrial

209,280.00CANAM GROUP INC .27 -.01 Basic Materials

243,530.00CANFOR CORP .32 .01 Basic Materials

345,024.00CANWEL BUILDING MATERIALS GROU .45 .01 Consumer, Cyclical

2,141,300.00CARGOJET INC 2.78 .08 Industrial

0.00CASCADES INC .00 .06 Basic Materials

1,526,633.95CASELLA WASTE SYSTEMS INC-A 1.98 .02 Industrial

514,930.93CATCHMARK TIMBER TRUST INC-A .67 .01 Financial

1,661,265.00CENTRIC HEALTH CORP Oct 17 6.75% 2.16 .01 Consumer, Non-cyclical

26,000.00CFP CN 17 Mar 17 C16 .03 .02 Basic Materials

464,827.50CHEMTRADE LOGISTICS INC 5% 08/31/2023 .60 .01

158,712.40CHEMTRADE LOGISTICS INC Dec 18 5.75% .21 .00 Industrial

1,177,605.00CHORUS AVIATION INC 1.53 .04 Consumer, Cyclical

328,832.25CIENA CORP .43 .03 Communications

406,953.75COMERICA INC .53 .03 Financial

447,094.24COSTCO WHOLESALE CORP .58 .04 Consumer, Cyclical

368.00CPG CN 17 Mar 17 C16 .00 -.00 Energy

3,167.52CWST US 17 Mar 17 C12.5 .00 -.00 Industrial

9,450.00D CN 17 Mar 17 P20 .01 .01 Financial

0.00DAL US 03 Feb 17 C48 .00 -.01 Consumer, Cyclical

0.00DETOUR GOLD CORP .00 .07 Basic Materials

282,443.00DIVERSIFIED ROYALTY CORP .37 -.00 Industrial

535,671.00DOMINION DIAMOND CORP .70 -.11 Basic Materials

348,090.00DREAM INDUSTRIAL REAL ESTATE .45 -.00 Financial

224,523.00ENBRIDGE INC PFD CONVERTIBLE T .29 .00 Energy

Report shows the contribution, in percentage terms, of each line item to the total performance of the fund.I.E. Contribution = [line item profits / fund starting capital in the period] * 100.

4/20/2017 12:58:52 Page 1 of 6PFS-PAXUS


Security/Category End MV % Period Perf. Sector

PERFORMANCE ATTRIBUTION FROM 2/1/2017 TO 2/28/2017

Short Positions-312,910.99JB HUNT TRANSPORT SERVICES INC -.41 .00 Industrial

0.00LOUISIANA-PACIFIC CORP (US) .00 -.01 Industrial

-266,681.15LOWE'S COS INC -.35 -.01 Consumer, Cyclical

0.00METRO INC .00 -.01 Consumer, Non-cyclical

-333,376.00MTY FOOD GROUP INC -.43 -.04 Consumer, Cyclical

-278,032.42MURPHY OIL CORP -.36 -.00 Energy

0.00NAK US 17 Feb 17 C1 .00 .06 Basic Materials

0.00NEWELL BRANDS INC .00 -.02 Consumer, Cyclical

0.00NPI CN 17 Feb 17 P22 .00 .00 Utilities

0.00OASIS PETROLEUM INC .00 .00 Energy

-293,244.48PEOPLE'S UNITED FINANCIAL -.38 -.01 Financial

-285,390.00PEYTO EXPLORATION & DEVELOPMEN -.37 .01 Energy

-147,117.62POLARIS INDUSTRIES INC -.19 -.00 Consumer, Cyclical

-1,571,202.73POWERSHARES QQQ TRUST SERIES 1 -2.04 -.09 Funds

-387,040.21PROCTER & GAMBLE CO/THE -.50 -.03 Consumer, Non-cyclical

0.00RJF US 17 Feb 17 C77.5 .00 .01 Financial

-279,792.00ROYAL BANK OF CANADA -.36 -.01 Financial

-339,832.90SALLY BEAUTY HOLDINGS INC -.44 .02 Consumer, Cyclical

-1,200,710.64SPDR Bloomberg Barclays High Y: -1.56 -.02

-1,491,686.06SPDR DOW JONES INDUSTRIAL AVER -1.94 -.10 Funds

-2,826,860.85SPDR S&P 500 ETF TRUST -3.68 -.14 Funds

0.00SPY US 17 Feb 17 P204 .00 .00 Funds

-3,346.81SPY US 17 Mar 17 P210 -.00 .02 Funds

-405,230.00SUNCOR ENERGY INC -.53 -.01 Energy

-224,744.00TELUS CORP -.29 .00 Communications

-151,682.30TEXAS ROADHOUSE INC -.20 .02 Consumer, Cyclical

-493,488.00TFI INTERNATIONAL INC (CT) -.64 .04 Industrial

-179,712.00THOMSON REUTERS CORP -.23 .01 Communications

-268,714.00TOROMONT INDUSTRIES LTD -.35 -.03 Industrial

-556,125.00TRANSALTA RENEWABLES INC -.72 -.00 Energy

-254,506.46TRUSTMARK CORP -.33 .00 Financial

-195,411.32UNITED STATES STEEL CORP (US) -.25 -.01 Basic Materials

0.00URTHECAST CORP .00 .01 Communications

-661,257.01WELLS FARGO & CO -.86 -.03 Financial

0.00WEST FRASER TIMBER CO LTD .00 .04 Basic Materials

0.00WY US 17 Feb 17 C32 .00 .02 Financial

0.00XLF US 17 Feb 17 C24 .00 .00 Funds

-.60Short positions total -27,786,577.70 -36.12

-1.53Securities total 66,896,975.41 86.97

Other ItemsN/AAdministration fees -.01 N/A

N/AAudit fees -.01 N/A

N/ABank charges -.00 N/A

N/AFinancial statement fees -.00 N/A

N/AGovernment Fees -.00 N/A

N/AInterest earned - bonds (manual entry) -.00 N/A

N/AInterest income - cash balances .00 N/A

N/AManagement fee -.11 N/A

N/AMiscellaneous expenses -.00 N/A

N/ARealised gain/loss fx spot -.00 N/A

N/AStock Loan Fees -.01 N/A

N/ATax fees .00 N/A

N/AUnrealised FX gain/loss - balance sheet .10 N/A

N/AUnrealised FX gain/loss on securities .11 N/A

Report shows the contribution, in percentage terms, of each line item to the total performance of the fund.I.E. Contribution = [line item profits / fund starting capital in the period] * 100.

4/20/2017 12:58:52 Page 5 of 6PFS-PAXUS

SECURITIES PRICE MOVEMENT

%Movement

Current priceCcy Currentdate

Previous periodprice

Security Identifier Type Previousperioddate

As of: 12/31/2016


Only show if tolerance exceeded:

Trade price:

Previous value date:

Price type:

11/30/2016

Accounting Prices

No

No


Equity 70.29CAD 2/10/2016 2/10/2016(F,U,B) (F,U,B)70.29 0.0000%BANK OF MONTREAL (CN) BBG000BXSQ97

Equity 14.87CAD 2/10/2016 2/10/2016(F,U,B) (F,U,B)14.87 0.0000%CAMECO CORP BBG000BXYMJ8

Weather Derivative Swap -137,000.00USD 1/31/2016 1/31/2016(F,C,M) (F,C,M)-137,000.00 0.0000%Test - Weather Derivative Swap

10/15/2017 16:10:39 Page 1 of 1PFS-PAXUS

Counterpart

2/1/2017 2/28/2017

2/1/2017 2/28/2017Demo Long Short Fund LP

DealNumber

SettlementDate

TradeDate

RealisedProfit

FX TRANSACTIONS

RealisedProfit LCY

Real.CCY

RealisedRate

DealRate

SellAmount

BuyAmount

SellCCY

BuyCCY

S/F

-Trade date range

Settlement date range -

2/15/20172/15/2017F405 -20.44CAD -20.441.30750000001.29820099372,197.88USD2,853.29CADBMO PB S



Grand total -68.67

4/20/2017 Page 1 of 112:58:52 PFS-PAXUS


Currency: CAD

Current rate company Previousperiod date

Previousperiod rate

Current dateCurrent rateCurrency % Movement

FOREIGN EXCHANGE RATE MOVEMENTS AS OF 2/28/2017

2.0673%1/31/20171.30122/28/20171.3281USDAll Counterparts

0.0000%1/31/20171.002/28/20171.00CADDemo Long Short Fund LP

Page 1 of 14/20/2017 12:58:53 PFS-PAXUS

Demo Long Short Fund LP · DEMO LONG SHORT FUND LP BALANCE SHEET AS OF FEBRUARY 28, 2017 Confirmed...

Documents

Transcript of Demo Long Short Fund LP · DEMO LONG SHORT FUND LP BALANCE SHEET AS OF FEBRUARY 28, 2017 Confirmed...