FORT, L.P. (“FORT”), a Delaware limited partnership, is an investment adviser based in Chevy
Chase, Maryland. FORT was established in 1999 and is the successor to FORT Inc., which was
co-founded in 1993 by Dr. Yves Balcer and Dr. Sanjiv Kumar. FORT’s general partner is FORT
Management Inc. FORT’s principal owners include Dr. Balcer and Dr. Kumar, both individually
and through their respective subsidiaries.
FORT develops and implements proprietary investment strategies for (i) separately managed
accounts (collectively, the “Managed Accounts” and each a “Managed Account”); and (ii)
privately offered commingled investment vehicles (collectively, the “Private Funds” and each a
“Private Fund”) The Sub-Advised Account, Managed Accounts and the Funds are sometimes
collectively referred to herein as “Clients” or, each, a “Client.”
FORT makes available to Clients three proprietary trading programs developed by FORT: (i)
Global Contrarian, a trend-anticipating trading program; (ii) Global Diversified, a combination of
futures strategies and an equity market neutral strategy; (iii) and Global Trend, a systematic trend-
following trading strategy. Global Diversified’s managed futures strategy is comprised of a mix of
separate components, which currently include: a trend-anticipating strategy, a trend-following
strategy and a mean reversion and relative value strategy. Global Diversified’s’s equity strategy is
based upon a variety of fundamental and technical signals derived from public information in SEC
filings and otherwise. The investment objective of the Global Contrarian and Global Trend
programs is to achieve attractive absolute rates of return and reduced volatility of returns that are
generally uncorrelated with global equity indices. The investment objective of the Global
Diversified program is to achieve attractive absolute rates of return that are generally uncorrelated
with global equity indices; in addition, these programs seek opportunities that are partially
uncorrelated with each other. For more information on
the investment strategies and
corresponding risks that FORT may use when implementing such strategies, see Item 8, “Methods
of Analysis, Investment Strategies and Risk of Loss.”
When FORT advises a Sub-Advised Account or Managed Account, the underlying investor of the
applicable Client indicates whether FORT should utilize one or more of the Global Contrarian,
Global Trend, and/or Global Diversified programs. These strategies are predominantly systematic
and, therefore, FORT does not generally offer deviation from pari passu treatment with the
strategy selected. However, on occasion, a Managed Account may have specific restrictions on its
investments, which are detailed in the applicable advisory agreement.
When FORT advises a Fund, FORT provides investment advice in accordance with either the
Global Contrarian, Global Diversified, or Global Trend, as set forth in the confidential private
placement memorandum or prospectus and organizational documents of such Fund (collectively,
the “Offering Documents”).
The investment objective and guidelines of the Funds are not specifically tailored to the individual
needs of investors. However, with respect to a Private Fund, FORT or the general partner of such
Private Fund has entered into, and may enter into in the future, side letter agreements with certain
investors, establishing rights under, or supplementing or altering the terms of, the Offering
Documents relating to such Private Fund with respect to such investors. These agreements may
impose restrictions on investing in certain securities or types of securities pursuant to negotiated
side letter agreements as negotiated by FORT or the general partner of such Private Fund.
As of December 31, 2023, the amount of regulatory assets under management that FORT managed
on a discretionary basis was approximately $358,861,756. As of such date, FORT’s aggregate
assets under management, including Managed Accounts that FORT managed on a discretionary
basis, was approximately $358,861,756. FORT does not intend to manage Client accounts on a
non-discretionary basis.