Monthly closes (newest first · click a month to expand)
March 20262 funds · 6 open material · 0 cleared
Multi-Strat BTC+ Class
Review needed
Period03/31/2026 · BTC
Admin NAV24.776809
Holdings5 matched · 4 break(s)
LP layer total26.952772
LP vs NAV2.175963
Multi-Strat Market Neutral (USD)
Review needed
Period03/31/2026 · USD
Admin NAV1,154,833.12
Holdings4 matched · 3 break(s)
LP layer total1,122,464.86
LP vs NAV-32,368.25
Break register (6 open material · 0 cleared · 7 flagged)
| Fund | Section | Item | Admin | Independent | Difference | Cause | Commentary | Resolution |
|---|---|---|---|---|---|---|---|---|
| Multi-Strat BTC+ Class | Investment MV | CORVINA CAPITAL Management Fund | 0.000000 | 3.199523 | 3.199523 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
| Multi-Strat BTC+ Class | Investment MV | Dialogic Caltrava | 0.000000 | 2.130711 | 2.130711 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
| Multi-Strat BTC+ Class | Investment MV | Anchor DeFi Offshore Fund, Ltd. - BTC | 3.626770 | 1.834688 | -1.792082 | Valuation | Valuation differs by 49.4%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat Market Neutral (USD) | Investment MV | Dialogic Chronograph SP Series 0525 | 0.00 | 30,711.61 | 30,711.61 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
| Multi-Strat Market Neutral (USD) | Investment MV | Cutwater DeFi Offshore Fund Ltd | 180,189.14 | 505,189.14 | 325,000.00 | Valuation | Valuation differs by 64.3%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat Market Neutral (USD) | Investment MV | Wrenfield Arbitrage Fund class B shares | 173,533.43 | 413,533.43 | 240,000.00 | Valuation | Valuation differs by 58.0%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | [IT:Ashford] | 0.460842 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open |
February 20263 funds · 4 open material · 1 cleared
BTC+ Fund (XL Class)
Review needed
Period02/28/2026 · BTC
Admin NAV126.705045
Holdings9 matched · 1 break(s)
LP layer total126.713907
LP vs NAV0.008862
Multi-Strat BTC+ Class
Review needed
Period02/28/2026 · BTC
Admin NAV24.811546
Holdings6 matched · 3 break(s)
LP layer total27.000697
LP vs NAV2.189151
Multi-Strat Market Neutral (USD)
Review needed
Period02/28/2026 · USD
Admin NAV2,487,225.14
Holdings6 matched · 3 break(s)
LP layer total2,463,309.65
LP vs NAV-23,915.49
Break register (4 open material · 1 cleared · 7 flagged)
| Fund | Section | Item | Admin | Independent | Difference | Cause | Commentary | Resolution |
|---|---|---|---|---|---|---|---|---|
| BTC+ Fund (XL Class) | Investment MV | C.C.M. Fund (BTC) | 0.000000 | 18.620000 | 18.620000 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
| Multi-Strat BTC+ Class | Investment MV | CORVINA CAPITAL Management Fund | 0.000000 | 3.191562 | 3.191562 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
| Multi-Strat BTC+ Class | Investment MV | Anchor DeFi Offshore Fund, Ltd. - BTC | 3.648585 | 1.834505 | -1.814081 | Valuation | Valuation differs by 49.7%. Compare pricing source and as-of date with the administrator. | resolved Cutwater held in two lots; admin nets to one line. Confirmed with manager 7/9. — JP 2026-07-09 |
| Multi-Strat Market Neutral (USD) | Investment MV | Dialogic Chronograph SP Series 0525 | 0.00 | 30,711.61 | 30,711.61 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
| Multi-Strat Market Neutral (USD) | Investment MV | MA Tranche, LLC_2 | 0.00 | 127,235.58 | 127,235.58 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
| Multi-Strat BTC+ Class | Investment MV | [IT:Ashford] | 0.460842 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Ashford] | 22,242.59 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open |
January 20263 funds · 5 open material · 0 cleared
BTC+ Fund (XL Class)
Review needed
Period01/31/2026 · BTC
Admin NAV126.901099
Holdings8 matched · 1 break(s)
LP layer total126.907992
LP vs NAV0.006893
Multi-Strat BTC+ Class
Review needed
Period01/31/2026 · BTC
Admin NAV24.898161
Holdings6 matched · 3 break(s)
LP layer total26.972978
LP vs NAV2.074817
Multi-Strat Market Neutral (USD)
Review needed
Period01/31/2026 · USD
Admin NAV2,504,470.67
Holdings7 matched · 2 break(s)
LP layer total3,469,715.77
LP vs NAV965,245.10
Break register (5 open material · 0 cleared · 6 flagged)
| Fund | Section | Item | Admin | Independent | Difference | Cause | Commentary | Resolution |
|---|---|---|---|---|---|---|---|---|
| BTC+ Fund (XL Class) | Investment MV | C.C.M. Fund (BTC) | 0.000000 | 18.588565 | 18.588565 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
| Multi-Strat BTC+ Class | Investment MV | CORVINA CAPITAL Management Fund | 0.000000 | 3.186480 | 3.186480 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
| Multi-Strat BTC+ Class | Investment MV | Anchor DeFi Offshore Fund, Ltd. - BTC | 3.473892 | 1.834138 | -1.639754 | Valuation | Valuation differs by 47.2%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Ashford Offshore Ltd (BTC) | 0.000000 | 0.460842 | 0.460842 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
| Multi-Strat Market Neutral (USD) | Investment MV | Dialogic Chronograph SP Series 0525 | 0.00 | 307,116.08 | 307,116.08 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Ashford] | 22,242.59 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open |
December 20253 funds · 5 open material · 0 cleared
BTC+ Fund (XL Class)
Holdings tie; LP layer ties
Period12/31/2025 · BTC
Admin NAV126.972017
Holdings9 matched · 0 break(s)
LP layer total126.980878
LP vs NAV0.008861
Multi-Strat BTC+ Class
Review needed
Period12/31/2025 · BTC
Admin NAV25.142265
Holdings7 matched · 2 break(s)
LP layer total27.027300
LP vs NAV1.885035
Multi-Strat Market Neutral (USD)
Review needed
Period12/31/2025 · USD
Admin NAV3,445,201.82
Holdings6 matched · 3 break(s)
LP layer total3,442,255.16
LP vs NAV-2,946.66
Break register (5 open material · 0 cleared · 5 flagged)
| Fund | Section | Item | Admin | Independent | Difference | Cause | Commentary | Resolution |
|---|---|---|---|---|---|---|---|---|
| Multi-Strat BTC+ Class | Investment MV | Anchor DeFi Offshore Fund, Ltd. - BTC | 3.366196 | 1.829747 | -1.536450 | Valuation | Valuation differs by 45.6%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Ashford Offshore Ltd (BTC) | 0.000000 | 0.460842 | 0.460842 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
| Multi-Strat Market Neutral (USD) | Investment MV | Cutwater DeFi Offshore Fund Ltd | 502,408.81 | 602,408.81 | 100,000.00 | Valuation | Valuation differs by 16.6%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat Market Neutral (USD) | Investment MV | ASHFORD OFFSHORE LTD. | 0.00 | 22,242.59 | 22,242.59 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
| Multi-Strat Market Neutral (USD) | Investment MV | Wrenfield Arbitrage Fund class B shares | 408,074.15 | 508,074.15 | 100,000.00 | Valuation | Valuation differs by 19.7%. Compare pricing source and as-of date with the administrator. | open |
November 20253 funds · 3 open material · 0 cleared
BTC+ Fund (XL Class)
Holdings tie; LP layer ties
Period11/30/2025 · BTC
Admin NAV126.899327
Holdings9 matched · 0 break(s)
LP layer total126.904207
LP vs NAV0.004880
Multi-Strat BTC+ Class
Review needed
Period11/30/2025 · BTC
Admin NAV25.134866
Holdings7 matched · 2 break(s)
LP layer total27.013212
LP vs NAV1.878346
Multi-Strat Market Neutral (USD)
Review needed
Period11/30/2025 · USD
Admin NAV3,483,198.74
Holdings8 matched · 1 break(s)
LP layer total3,476,766.56
LP vs NAV-6,432.18
Break register (3 open material · 0 cleared · 3 flagged)
| Fund | Section | Item | Admin | Independent | Difference | Cause | Commentary | Resolution |
|---|---|---|---|---|---|---|---|---|
| Multi-Strat BTC+ Class | Investment MV | Anchor DeFi Offshore Fund, Ltd. - BTC | 3.332895 | 1.773010 | -1.559884 | Valuation | Valuation differs by 46.8%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Ashford Offshore Ltd (BTC) | 0.000000 | 0.460842 | 0.460842 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
| Multi-Strat Market Neutral (USD) | Investment MV | ASHFORD OFFSHORE LTD. | 0.00 | 22,242.59 | 22,242.59 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
October 20253 funds · 3 open material · 0 cleared
BTC+ Fund (XL Class)
Holdings tie; LP layer differs
Period10/31/2025 · BTC
Admin NAV127.588401
Holdings9 matched · 0 break(s)
LP layer total127.516483
LP vs NAV-0.071918
Multi-Strat BTC+ Class
Review needed
Period10/31/2025 · BTC
Admin NAV15.596204
Holdings5 matched · 2 break(s)
LP layer total27.052909
LP vs NAV11.456705
Multi-Strat Market Neutral (USD)
Review needed
Period10/31/2025 · USD
Admin NAV3,457,499.46
Holdings8 matched · 1 break(s)
LP layer total3,454,079.72
LP vs NAV-3,419.74
Break register (3 open material · 0 cleared · 3 flagged)
| Fund | Section | Item | Admin | Independent | Difference | Cause | Commentary | Resolution |
|---|---|---|---|---|---|---|---|---|
| Multi-Strat BTC+ Class | Investment MV | Anchor DeFi Offshore Fund, Ltd. - BTC | 3.161915 | 1.741901 | -1.420014 | Valuation | Valuation differs by 44.9%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Ashford Offshore Ltd (BTC) | 0.000000 | 0.460842 | 0.460842 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
| Multi-Strat Market Neutral (USD) | Investment MV | ASHFORD OFFSHORE LTD. | 0.00 | 436,702.95 | 436,702.95 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
September 20253 funds · 5 open material · 0 cleared
BTC+ Fund (XL Class)
Holdings tie; LP layer differs
Period09/30/2025 · BTC
Admin NAV63.792027
Holdings9 matched · 0 break(s)
LP layer total63.723664
LP vs NAV-0.068363
Multi-Strat BTC+ Class
Review needed
Period09/30/2025 · BTC
Admin NAV12.980638
Holdings3 matched · 5 break(s)
LP layer total19.559412
LP vs NAV6.578774
Multi-Strat Market Neutral (USD)
Holdings tie; LP layer differs
Period09/30/2025 · USD
Admin NAV3,447,561.59
Holdings8 matched · 0 break(s)
LP layer total3,445,477.01
LP vs NAV-2,084.58
Break register (5 open material · 0 cleared · 5 flagged)
| Fund | Section | Item | Admin | Independent | Difference | Cause | Commentary | Resolution |
|---|---|---|---|---|---|---|---|---|
| Multi-Strat BTC+ Class | Investment MV | Dialogic Caltrava | 2.162700 | 4.162625 | 1.999925 | Valuation | Valuation differs by 48.0%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Anchor DeFi Offshore Fund, Ltd. - BTC | 3.162436 | 4.953282 | 1.790846 | Valuation | Valuation differs by 36.2%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | BRIGHTWATER INVESTMENTS FEEDER FUND | 2.276000 | 4.376000 | 2.100000 | Valuation | Valuation differs by 48.0%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Fernhollow Technologies Digital Alpha Master Fund | 2.284889 | 4.528337 | 2.243448 | Valuation | Valuation differs by 49.5%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Ashford Offshore Ltd (BTC) | 0.000000 | 0.460842 | 0.460842 | Redemption | Administrator carries this holding at zero while the investment team still values it. Likely a redemption or write-down the admin has booked and the sheet has not. Confirm status with the manager. | open |
August 20252 funds · 1 open material · 0 cleared
Multi-Strat BTC+ Class
Review needed
Period08/31/2025 · BTC
Admin NAV34.784682
Holdings6 matched · 2 break(s)
LP layer total40.476812
LP vs NAV5.692130
Multi-Strat Market Neutral (USD)
Holdings tie; LP layer differs
Period08/31/2025 · USD
Admin NAV3,503,693.71
Holdings8 matched · 0 break(s)
LP layer total3,496,513.47
LP vs NAV-7,180.24
Break register (1 open material · 0 cleared · 2 flagged)
| Fund | Section | Item | Admin | Independent | Difference | Cause | Commentary | Resolution |
|---|---|---|---|---|---|---|---|---|
| Multi-Strat BTC+ Class | Investment MV | Anchor DeFi Offshore Fund, Ltd. - BTC | 6.162530 | 4.926167 | -1.236363 | Valuation | Valuation differs by 20.1%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Ashford Offshore Ltd (BTC) | 0.460842 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open |
July 20252 funds · 1 open material · 0 cleared
Multi-Strat BTC+ Class
Review needed
Period07/31/2025 · BTC
Admin NAV34.325222
Holdings6 matched · 3 break(s)
LP layer total40.341764
LP vs NAV6.016542
Multi-Strat Market Neutral (USD)
Review needed
Period07/31/2025 · USD
Admin NAV3,502,422.52
Holdings8 matched · 1 break(s)
LP layer total3,495,457.42
LP vs NAV-6,965.10
Break register (1 open material · 0 cleared · 4 flagged)
| Fund | Section | Item | Admin | Independent | Difference | Cause | Commentary | Resolution |
|---|---|---|---|---|---|---|---|---|
| Multi-Strat BTC+ Class | Investment MV | Anchor DeFi Offshore Fund, Ltd. - BTC | 6.172867 | 4.888097 | -1.284770 | Valuation | Valuation differs by 20.8%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Ashford Offshore Ltd (BTC) | 0.460842 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat BTC+ Class | Investment MV | [IT:Ridgemont Trading] | 5.123845 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Ridgemont Trading] | 533,493.59 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open |
June 20252 funds · 1 open material · 0 cleared
Multi-Strat BTC+ Class
Review needed
Period06/30/2025 · BTC
Admin NAV38.857721
Holdings6 matched · 3 break(s)
LP layer total39.856170
LP vs NAV0.998449
Multi-Strat Market Neutral (USD)
Review needed
Period06/30/2025 · USD
Admin NAV3,455,079.77
Holdings8 matched · 1 break(s)
LP layer total3,452,856.80
LP vs NAV-2,222.97
Break register (1 open material · 0 cleared · 4 flagged)
| Fund | Section | Item | Admin | Independent | Difference | Cause | Commentary | Resolution |
|---|---|---|---|---|---|---|---|---|
| Multi-Strat BTC+ Class | Investment MV | Anchor DeFi Offshore Fund, Ltd. - BTC | 5.858674 | 4.781015 | -1.077658 | Valuation | Valuation differs by 18.4%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Ashford Offshore Ltd (BTC) | 0.460842 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat BTC+ Class | Investment MV | [IT:Ridgemont Trading] | 4.840096 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Ridgemont Trading] | 520,544.59 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open |
May 20252 funds · 1 open material · 0 cleared
Multi-Strat BTC+ Class
Review needed
Period05/31/2025 · BTC
Admin NAV38.739429
Holdings6 matched · 3 break(s)
LP layer total39.786570
LP vs NAV1.047141
Multi-Strat Market Neutral (USD)
Review needed
Period05/31/2025 · USD
Admin NAV3,360,847.92
Holdings8 matched · 1 break(s)
LP layer total3,358,308.65
LP vs NAV-2,539.28
Break register (1 open material · 0 cleared · 4 flagged)
| Fund | Section | Item | Admin | Independent | Difference | Cause | Commentary | Resolution |
|---|---|---|---|---|---|---|---|---|
| Multi-Strat BTC+ Class | Investment MV | Anchor DeFi Offshore Fund, Ltd. - BTC | 5.881698 | 4.739108 | -1.142590 | Valuation | Valuation differs by 19.4%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Ashford Offshore Ltd (BTC) | 0.460842 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat BTC+ Class | Investment MV | [IT:Ridgemont Trading] | 4.913248 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Ridgemont Trading] | 527,690.68 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open |
April 20252 funds · 5 open material · 0 cleared
Multi-Strat BTC+ Class
Review needed
Period04/30/2025 · BTC
Admin NAV39.882763
Holdings2 matched · 8 break(s)
LP layer total39.714504
LP vs NAV-0.168259
Multi-Strat Market Neutral (USD)
Review needed
Period04/30/2025 · USD
Admin NAV3,213,131.55
Holdings0 matched · 8 break(s)
LP layer total3,210,473.87
LP vs NAV-2,657.69
Break register (5 open material · 0 cleared · 16 flagged)
| Fund | Section | Item | Admin | Independent | Difference | Cause | Commentary | Resolution |
|---|---|---|---|---|---|---|---|---|
| Multi-Strat BTC+ Class | Investment MV | CORVINA CAPITAL Management Fund | 6.631939 | 37.631939 | 31.000000 | Valuation | Valuation differs by 82.4%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Dialogic Caltrava | 4.107200 | 11.107200 | 7.000000 | Valuation | Valuation differs by 63.0%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Anchor DeFi Offshore Fund, Ltd. - BTC | 6.124977 | 34.124977 | 28.000000 | Valuation | Valuation differs by 82.1%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | BRIGHTWATER INVESTMENTS FEEDER FUND | 4.247720 | 24.247720 | 20.000000 | Valuation | Valuation differs by 82.5%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Fernhollow Technologies Digital Alpha Master Fund | 4.417304 | 10.417304 | 6.000000 | Valuation | Valuation differs by 57.6%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Ashford Offshore Ltd (BTC) | 9.216842 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat BTC+ Class | Investment MV | [IT:Ridgemont Trading] | 29.889154 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat BTC+ Class | Investment MV | [IT:LibertyRoad] | 10.212812 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Ridgemont Trading] | 539,489.22 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Cutwater] | 568,385.23 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Thistledown] | 336,248.69 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Ashford] | 489,421.73 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Tranche 1] | 40,750.82 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Tranche 2 - Corvina] | 129,997.14 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Wrenfield] | 515,506.66 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Winslow] | 505,732.17 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open |
March 20252 funds · 6 open material · 0 cleared
Multi-Strat BTC+ Class
Review needed
Period03/31/2025 · BTC
Admin NAV214.288262
Holdings2 matched · 8 break(s)
LP layer total214.296778
LP vs NAV0.008516
Multi-Strat Market Neutral (USD)
Review needed
Period03/31/2025 · USD
Admin NAV3,237,968.35
Holdings0 matched · 6 break(s)
LP layer total3,231,025.43
LP vs NAV-6,942.92
Break register (6 open material · 0 cleared · 17 flagged)
| Fund | Section | Item | Admin | Independent | Difference | Cause | Commentary | Resolution |
|---|---|---|---|---|---|---|---|---|
| Multi-Strat BTC+ Class | Investment MV | CORVINA CAPITAL Management Fund | 37.520978 | 45.520978 | 8.000000 | Valuation | Valuation differs by 17.6%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Dialogic Caltrava | 11.115600 | 15.115600 | 4.000000 | Valuation | Valuation differs by 26.5%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Anchor DeFi Offshore Fund, Ltd. - BTC | 34.178680 | 42.178680 | 8.000000 | Valuation | Valuation differs by 19.0%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | BRIGHTWATER INVESTMENTS FEEDER FUND | 24.084100 | 31.084100 | 7.000000 | Valuation | Valuation differs by 22.5%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Fernhollow Technologies Digital Alpha Master Fund | 10.501217 | 14.501217 | 4.000000 | Valuation | Valuation differs by 27.6%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Ashford Offshore Ltd (BTC) | 9.284062 | 10.284062 | 1.000000 | Valuation | Valuation differs by 9.7%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Fund | NAV | 214.288262 | 279.908292 | 65.620030 | Difference | Outside tolerance; investigate. | open |
| Multi-Strat BTC+ Class | Investment MV | [IT:Ridgemont Trading] | 39.188797 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat BTC+ Class | Investment MV | [IT:LibertyRoad] | 12.343731 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat BTC+ Class | LP NAV/share | Investor 1005: units x NAV/share vs ending balance (admin) | 1.072521 | 1.071905 | -0.000616 | Timing | NAV per share differs; usually estimated-versus-final or a fee accrual. Confirm on the final pack. | open |
| Multi-Strat Market Neutral (USD) | Fund | NAV | 3,237,968.35 | 3,851,025.23 | 613,056.88 | Difference | Outside tolerance; investigate. | open |
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Ridgemont Trading] | 533,764.68 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Cutwater] | 564,606.59 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Thistledown] | 370,061.88 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Ashford] | 490,777.25 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Tranche 1] | 42,709.14 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Wrenfield] | 512,355.02 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open |
February 20252 funds · 2 open material · 0 cleared
Multi-Strat BTC+ Class
Review needed
Period02/28/2025 · BTC
Admin NAV281.311857
Holdings6 matched · 4 break(s)
LP layer total281.320500
LP vs NAV0.008643
Multi-Strat Market Neutral (USD)
Review needed
Period02/28/2025 · USD
Admin NAV3,831,059.50
Holdings0 matched · 6 break(s)
LP layer total3,826,652.11
LP vs NAV-4,407.39
Break register (2 open material · 0 cleared · 12 flagged)
| Fund | Section | Item | Admin | Independent | Difference | Cause | Commentary | Resolution |
|---|---|---|---|---|---|---|---|---|
| Multi-Strat BTC+ Class | Investment MV | CORVINA CAPITAL Management Fund | 45.349017 | 57.349017 | 12.000000 | Valuation | Valuation differs by 20.9%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Investment MV | Anchor DeFi Offshore Fund, Ltd. - BTC | 42.081328 | 62.081328 | 20.000000 | Valuation | Valuation differs by 32.2%. Compare pricing source and as-of date with the administrator. | open |
| Multi-Strat BTC+ Class | Fund | NAV | 281.311857 | 312.125767 | 30.813910 | Difference | Outside tolerance; investigate. | open |
| Multi-Strat BTC+ Class | Investment MV | [IT:Ridgemont Trading] | 39.670000 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat BTC+ Class | Investment MV | [IT:LibertyRoad] | 13.490078 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Fund | NAV | 3,831,059.50 | 3,876,624.94 | 45,565.44 | Difference | Outside tolerance; investigate. | open |
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Ridgemont Trading] | 1,205,500.69 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Cutwater] | 1,067,133.81 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Thistledown] | 461,627.10 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Ashford] | 489,436.21 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Tranche 1] | 47,331.65 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Wrenfield] | 640,552.80 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open |
January 20252 funds · 0 open material · 0 cleared
Multi-Strat BTC+ Class
Review needed
Period01/31/2025 · BTC
Admin NAV311.134305
Holdings8 matched · 2 break(s)
LP layer total311.298863
LP vs NAV0.164558
Multi-Strat Market Neutral (USD)
Review needed
Period01/31/2025 · USD
Admin NAV3,869,030.26
Holdings0 matched · 6 break(s)
LP layer total3,865,740.62
LP vs NAV-3,289.64
Break register (0 open material · 0 cleared · 9 flagged)
| Fund | Section | Item | Admin | Independent | Difference | Cause | Commentary | Resolution |
|---|---|---|---|---|---|---|---|---|
| Multi-Strat BTC+ Class | Investment MV | [IT:Ridgemont Trading] | 39.880000 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat BTC+ Class | Investment MV | [IT:LibertyRoad] | 8.793652 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Fund | NAV | 3,869,030.26 | 3,865,740.62 | -3,289.64 | Difference | Outside tolerance; investigate. | open |
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Ridgemont Trading] | 1,212,832.03 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Cutwater] | 1,058,811.16 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Thistledown] | 417,156.02 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Ashford] | 488,192.41 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Tranche 1] | 80,000.00 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open | ||
| Multi-Strat Market Neutral (USD) | Investment MV | [IT:Wrenfield] | 636,670.37 | New position | Held in the investment team book but not in the administrator's holdings. Confirm whether the admin has recognized the position or if it settled after the cut-off. | open |
Governing terms & documents
Multi-Strat BTC+ Class
terms effective 2023-01-01
| Term | Value | Status | Source document |
|---|---|---|---|
| Management fee (%/yr) | 1.0 | confirmed | MultiStrategy Supplemental OM (BTC+/MN) (0.0833%/mo, 1% p.a.) |
| Performance allocation (%) | 10 | confirmed | MultiStrategy Supplemental OM (Performance Allocation 10%) |
| Hurdle (%) | 0 | confirmed | MultiStrategy Supplemental OM (no hurdle) |
| High-water mark | True | confirmed | MultiStrategy Supplemental OM (high water mark) |
| Crystallization | Annual (calendar year); series roll-up into Lead Series; pro-rated on redemption | confirmed | MultiStrategy Supplemental OM |
| Expense cap (%/yr) | 1.0 | confirmed | MultiStrategy Supplemental OM (Expense Cap 1.0% of NAV/yr; Manager absorbs excess) |
| Series method | Series-of-shares with series roll-up (compulsory redemption/reissue into the lead series after fee accrual, at prevailing NAV) | confirmed | M&AA Acme Capital Master SPC, Art. 36 + MultiStrategy Supplemental OM |
Fee side letters: none · Liquidity side letters: none
Multi-Strat Market Neutral (USD)
terms effective 2023-01-01
| Term | Value | Status | Source document |
|---|---|---|---|
| Management fee (%/yr) | 1.0 | confirmed | MultiStrategy Supplemental OM (BTC+/MN) (0.0833%/mo, 1% p.a.); MN Class denominated in USD |
| Performance allocation (%) | 10 | confirmed | MultiStrategy Supplemental OM (Performance Allocation 10%) |
| Hurdle (%) | 0 | confirmed | MultiStrategy Supplemental OM (no hurdle) |
| High-water mark | True | confirmed | MultiStrategy Supplemental OM (high water mark) |
| Crystallization | Annual (calendar year); series roll-up into Lead Series; pro-rated on redemption | confirmed | MultiStrategy Supplemental OM |
| Expense cap (%/yr) | 1.0 | confirmed | MultiStrategy Supplemental OM (Expense Cap 1.0% of NAV/yr; Manager absorbs excess) |
| Series method | Series-of-shares with series roll-up (compulsory redemption/reissue into the lead series after fee accrual, at prevailing NAV) | confirmed | M&AA Acme Capital Master SPC, Art. 36 + MultiStrategy Supplemental OM |
Fee side letters: Ashcombe 2012 Family Trust · Liquidity side letters: Brackenridge Insurance Company, Fenwick Advisors Limited, Thornbury
Document register
| Document | Type | Governs | Terms sourced | File |
|---|---|---|---|---|
| Supp OM Acme Capital BTC+ | Offering supplement | BTC+ Fund (XL Class) | management fee 1%; performance allocation 10%; high-water mark; no hurdle; expense cap 1%; crystallization / series roll-up | open |
| MultiStrategy Supplemental OM (BTC+ / MN) | Offering supplement | Multi-Strat BTC+ Class, Multi-Strat Market Neutral (USD) | management fee 1%; performance allocation 10%; high-water mark; no hurdle; expense cap 1%; two classes differ solely in denomination | open |
| Master PPM Acme Capital Series LLC (January '24) | Master PPM (onshore) | Multi-Strat BTC+ Class, Multi-Strat Market Neutral (USD), BTC+ Fund (XL Class) | onshore master fee framework; performance allocation at master sub-fund level; side-pocket mechanics | open |
| 2nd AR Sub-Fund OA Acme Capital BTC+ Series (XL Class) | Operating agreement (onshore) | BTC+ Fund (XL Class) | onshore XL class governance; profit/loss allocation | open |
| IMA Acme Capital (Cayman Feeder and Master) (5.22.23) | Investment Management Agreement | BTC+ Fund (XL Class), Multi-Strat BTC+ Class, Multi-Strat Market Neutral (USD) | management fee framework (rate per Supp OM); fee charged at master, borne pro-rata at strategy level; side-letter fee reduction/waiver authorization (§6(c)) | open |
| Torreon Amended & Restated Master Loan Agreement (Execution Version) | Credit agreement | BTC+ Fund (XL Class) | preferred return 4.5% p.a.; profit split 42% debt / 58% equity; 80/20 debt/equity first-loss structure | open |
| Ashcombe Trust side letter | Side letter (fee) | Multi-Strat Market Neutral (USD) | tiered fee: below $25M 0.50% mgmt / 5% perf; at/above $25M 1% / 10% | open |
| Fenwick Advisors side letter (executed) | Side letter (liquidity) | Multi-Strat Market Neutral (USD) | monthly redemption; no 12-month soft lock-up / early-redemption penalty | open |
| Brackenridge Insurance side letter (Thornbury MFN) | Side letter (liquidity) | Multi-Strat Market Neutral (USD) | extra Nov 30 withdrawal; no early-withdrawal penalty; MFN for Thornbury affiliates | open |
| M&AA Acme Capital Master SPC (Amended & Restated) | Constitutional (M&AA) | BTC+ Fund (XL Class), Multi-Strat BTC+ Class, Multi-Strat Market Neutral (USD) | series-of-shares roll-up (Art. 36); segregated portfolio structure; management fee defers to IMA | path TBD |
Links open when the dashboard is served from a location that can reach these folders (as your COO dashboard is). Opened straight off disk, some browsers block cross-folder links.
Sign-off & COO Dashboard feed
After review, a signed-off close writes
signoff_feed.json for the COO Dashboard
NAV Month End module (per share class: as-of, admin NAV, reconciliation status, material break count).
The feed schema is documented in shadow_nav/README.md; the exact field mapping will be finalized
once the module's expected format is confirmed.
Notes
Lines the investment team sheet does not carry (fund NAV, venue cash, feeder-level investor rows) are shown as
"Not supplied" by the commentary engine and are excluded from the break register; they populate once the BPS and
exchange feeds are wired. Prelim packages are reconciled the same way as finals and should be re-confirmed on the
final pack. Investor data stays in the folder and is not written to persistent memory.