-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ClzhuDKI06NeqA68B+BDMAX7Z+o0QE0CPoQbaSAUVzVaoO4NNT82hWOCLJBYhIpU HmvhGM/7QLHmNPpeFitvsw== 0000945227-99-000049.txt : 19991115 0000945227-99-000049.hdr.sgml : 19991115 ACCESSION NUMBER: 0000945227-99-000049 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990930 FILED AS OF DATE: 19991112 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PROFUTURES LONG/SHORT GROWTH FUND LP CENTRAL INDEX KEY: 0001045702 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 742849862 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 000-25585 FILM NUMBER: 99747799 BUSINESS ADDRESS: STREET 1: 1310 HIGHWAY 620 SOUTH STREET 2: SUITE 200 CITY: AUSTIN STATE: TX ZIP: 78734 BUSINESS PHONE: 5122633800 MAIL ADDRESS: STREET 1: 1310 HIGHWAY 620 SOUTH STREET 2: SUITE 200 CITY: AUSTIN STATE: TX ZIP: 78734 FORMER COMPANY: FORMER CONFORMED NAME: PROFUTURES BULL & BEAR FUND L P DATE OF NAME CHANGE: 19980827 10-Q 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q X Quarterly Report Under Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarter Ended September 30, 1999 ------------------ Commission File Number 0-25585 ------- PROFUTURES LONG/SHORT GROWTH FUND, L.P. - --------------------------------------- (Exact name of registrant) Delaware 74-2849862 - ----------------------- ----------------------------------- (State of Organization) (I.R.S.Employer Identification No.) ProFutures, Inc. 11612 Bee Cave Road Suite 100 Austin, Texas 78733 - ---------------------------------------- (Address of principal executive offices) Registrant's telephone number (800) 348-3601 - -------------- Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes X No PART I - FINANCIAL INFORMATION Item 1. Financial Statements. PROFUTURES LONG/SHORT GROWTH FUND, L.P. STATEMENTS OF FINANCIAL CONDITION September 30, 1999 (Unaudited) and December 31, 1998 (Audited) ------------- September 30, December 31, 1999 1998 ---- ---- ASSETS Equity in broker trading account Cash $37,843,355 $15,444,073 United States government securities 0 3,406,808 Unrealized gain on open contracts 5,045,525 1,163,250 ------------ ----------- Deposits with broker 42,888,880 20,014,131 Cash 677,394 10,415 ----------- ----------- Total assets $43,566,274 $20,024,546 =========== =========== LIABILITIES Accounts payable $ 21,223 $ 12,215 Commissions and other trading fees on open contracts 2,675 771 General Partner management fee 107,207 46,529 Advisor incentive fee 0 1,400,060 Redemptions payable 226,220 10,000 ----------- ----------- Total liabilities 357,325 1,469,575 ----------- ----------- PARTNERS' CAPITAL (Net Asset Value) General Partner - 61.4461 units outstanding at September 30, 1999 and December 31, 1998 117,322 116,671 Limited Partners - 22,576.1052 and 9,710.7200 units outstanding at September 30, 1999 and December 31, 1998 43,091,627 18,438,300 ----------- ----------- Total partners' capital (Net Asset Value) 43,208,949 18,554,971 ----------- ----------- $43,566,274 $20,024,546 =========== =========== See accompanying notes. PROFUTURES LONG/SHORT GROWTH FUND, L.P. STATEMENTS OF OPERATIONS For the Nine Months Ended September 30, 1999 and 1998 (Unaudited) ------------- Nine months ended September 30, 1999 1998 ---- ---- INCOME Trading gains (losses) Realized $(3,447,975) $ 1,588,994 Change in unrealized 3,882,275 (978,675) ----------- ----------- Gain from trading 434,300 610,319 Interest income 1,076,564 254,997 ----------- ----------- Total income 1,510,864 865,316 ----------- ----------- EXPENSES Brokerage commissions 23,021 6,138 General Partner management fee 682,789 140,053 Advisor incentive fee 293,116 171,310 Operating expenses 77,830 42,262 ----------- ----------- Total expenses 1,076,756 359,763 ----------- ----------- NET INCOME $ 434,108 $ 505,553 =========== =========== NET INCOME PER GENERAL AND LIMITED PARTNER UNIT (based on weighted average number of units outstanding during the period of 16,164.1648 and 4,959.2859, respectively) $ 26.86 $ 101.94 =========== =========== INCREASE IN NET ASSET VALUE PER GENERAL AND LIMITED PARTNER UNIT $ 9.97 $ 331.10 =========== =========== See accompanying notes. PROFUTURES LONG/SHORT GROWTH FUND, L.P. STATEMENTS OF OPERATIONS For the Three Months Ended September 30, 1999 and 1998 (Unaudited) ------------- Three months ended September 30, 1999 1998 ---- ---- INCOME Trading gains (losses) Realized $(6,084,944) $ 613,205 Change in unrealized 5,045,525 (976,500) ----------- ----------- (Loss) from trading (1,039,419) (363,295) Interest income 459,472 139,649 ----------- ----------- Total (loss) (579,947) (223,646) ----------- ----------- EXPENSES Brokerage commissions 14,883 3,805 General Partner management fee 294,366 76,246 Advisor incentive fee 0 0 Operating expenses 29,279 14,589 ----------- ----------- Total expenses 338,528 94,640 ----------- ----------- NET (LOSS) $ (918,475) $ (318,286) =========== =========== NET (LOSS) PER GENERAL AND LIMITED PARTNER UNIT (based on weighted average number of units outstanding during the period of 21,508.5963 and 7,576.8507, respectively) $ (42.70) $ (42.01) =========== =========== INCREASE (DECREASE) IN NET ASSET VALUE PER GENERAL AND LIMITED PARTNER UNIT $ (60.30) $ 74.84 =========== =========== See accompanying notes. PROFUTURES LONG/SHORT GROWTH FUND, L.P. STATEMENTS OF CHANGES IN PARTNERS' CAPITAL (NET ASSET VALUE) For the Nine Months Ended September 30, 1999 and 1998 (Unaudited) -------------
Total Partners' Capital Number of ---------------------------------- Units General Limited Total ---------- -------- ----------- ----------- Balances at December 31, 1998 9,772.1661 $116,671 $18,438,300 $18,554,971 Net income for the nine months ended September 30, 1999 651 433,457 434,108 Additions 13,533.8056 0 25,476,715 25,476,715 Redemptions (668.4204) 0 (1,256,845) (1,256,845) ----------- -------- ----------- ----------- Balances at September 30, 1999 22,637.5513 $117,322 $43,091,627 $43,208,949 =========== ======== =========== =========== Balances at December 31, 1997 3,044.2642 $ 29,313 $ 2,885,423 $ 2,914,736 Net income for the nine months ended September 30, 1998 12,932 492,621 505,553 Additions 6,959.8881 36,931 9,422,159 9,459,090 Redemptions (79.1017) 0 (90,494) (90,494) ----------- -------- ----------- ----------- Balances at September 30, 1998 9,925.0506 $ 79,176 $12,709,709 $12,788,885 =========== ======== =========== =========== Net asset value per unit at December 31, 1997 $ 957.45 =========== September 30, 1998 $ 1,288.55 =========== December 31, 1998 $ 1,898.76 =========== September 30, 1999 $ 1,908.73 ===========
See accompanying notes. PROFUTURES LONG/SHORT GROWTH FUND, L.P. NOTES TO FINANCIAL STATEMENTS (Unaudited) ----------- Note 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ----------------------------------------------------------- A. General Description of the Partnership ProFutures Long/Short Growth Fund, L.P. (the Partnership) is a Delaware limited partnership which operates as a commodity investment pool. The Partnership engages in the speculative trading of stock index futures contracts. It is subject to the regulations of the Commodity Futures Trading Commission, an agency of the United States (U.S.) government which regulates most aspects of the commodity futures industry; rules of the National Futures Association, an industry self-regulatory organization; and the requirements of commodity exchanges and Futures Commission Merchants (brokers) through which the Partnership trades. The Partnership was organized on August 21, 1997 under the name ProFutures Bull & Bear Fund, L.P. and commenced trading on November 20, 1997. On December 8, 1998, the Partnership changed its name from ProFutures Bull & Bear Fund, L.P. to ProFutures Long/Short Growth Fund, L.P. B. Interim Financial Statements In the opinion of management, the unaudited interim financial statements reflect all adjustments, which were of a normal and recurring nature, necessary for a fair presentation of financial position as of September 30, 1999, and the results of operations for the nine and three months ended September 30, 1999 and 1998. C. Method of Reporting The Partnership's financial statements are presented in accordance with generally accepted accounting principles, which require the use of certain estimates made by the Partnership's management. Transactions are accounted for on the trade date. Gains or losses are realized when contracts are liquidated. Unrealized gains or losses on open contracts (the difference between contract purchase price and market price) are reported in the statement of financial condition as a net gain or loss, as there exists a right of offset of unrealized gains or losses in accordance with Financial Accounting Standards Board Interpretation No. 39 - "Offsetting of Amounts Related to Certain Contracts." Any change in net unrealized gain or loss from the preceding period is reported in the statement of operations. United States government securities are stated at cost plus accrued interest, which approximates market value. For purposes of both financial reporting and calculation of redemption value, Net Asset Value Per Unit is calculated by dividing Net Asset Value by the total number of units outstanding. PROFUTURES LONG/SHORT GROWTH FUND, L.P. NOTES TO FINANCIAL STATEMENTS (CONTINUED) (Unaudited) ----------- Note 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) ----------- D. Brokerage Commissions Brokerage commissions include other trading fees and are charged to expense when contracts are opened. E. Income Taxes The Partnership prepares calendar year U.S. and state information tax returns and reports to the partners their allocable shares of the Partnership's income, expenses and trading gains or losses. F. Organizational Charge The General Partner pays all organizational and offering costs of the Partnership. As reimbursement for such costs, the General Partner (or the Distributor, ProFutures Financial Group, Inc., a broker/dealer affiliate of the General Partner) receives an organizational charge of 1% of the subscription amount of each subscriber to the Partnership. Additions are reflected in the statement of changes in partners' capital (net asset value) net of such organizational charge totaling $254,766 for the nine months ended September 30, 1999 and $94,591 for the nine months ended September 30, 1998. G. Statements of Cash Flows The Partnership has elected not to provide statements of cash flows as permitted by Statement of Financial Accounting Standards No. 102 - "Statement of Cash Flows - Exemption of Certain Enterprises and Classification of Cash Flows from Certain Securities Acquired for Resale." Note 2. GENERAL PARTNER --------------- The General Partner of the Partnership is ProFutures, Inc., which conducts and manages the business of the Partnership. Prior to June 1, 1998, the Limited Partnership Agreement required the General Partner to maintain a capital account equal to at least 1% of the total capital of the Partnership. Effective June 1, 1998, the Limited Partnership Agreement was amended and now requires the General Partner and/or its principals and affiliates to maintain capital accounts equal to at least 1% of the total capital of the Partnership. At September 30, 1999 and December 31, 1998, the capital accounts of the General Partner and/or its principals and affiliates totaled $712,947 and $506,005, respectively. The Limited Partnership Agreement was further amended effective February 16, 1999 and generally requires that the General Partner maintain a net worth of at least $1,000,000. ProFutures, Inc. has callable subscription agreements with Internationale Nederlanden (U.S.) Securities, Futures & Options, Inc. (ING), the Partnership's primary broker, whereby ING has subscribed to purchase (up to $14,000,017) the number of shares of common stock of ProFutures, Inc. necessary to maintain the General Partner net worth requirements. The General Partner is paid a monthly management fee equal to 1/4 of 1% (3% annually) of month-end Net Assets (as defined in the Limited Partnership Agreement). PROFUTURES LONG/SHORT GROWTH FUND, L.P. NOTES TO FINANCIAL STATEMENTS (CONTINUED) (Unaudited) ----------- Note 3. COMMODITY TRADING ADVISOR ------------------------- The Partnership has an advisory contract with Hampton Investors, Inc. (Hampton), pursuant to which the Partnership pays a quarterly incentive fee equal to 20% of New Trading Profits (as defined in the advisory contract). Note 4. DEPOSITS WITH BROKER -------------------- The Partnership deposits funds with ING to act as broker subject to Commodity Futures Trading Commission regulations and various exchange and broker requirements. The Partnership earns interest income on its assets deposited with the broker. At September 30, 1999, the initial margin requirement of $7,664,063 is satisfied by the deposit of cash with such broker. At December 31, 1998, the initial margin requirement of $1,586,250 is satisfied by the deposit of cash and U.S. government securities with such broker. Note 5. SUBSCRIPTIONS, DISTRIBUTIONS AND REDEMPTIONS -------------------------------------------- Investments in the Partnership are made by subscription agreement, subject to acceptance by the General Partner. The Partnership is not required to make distributions, but may do so at the sole discretion of the General Partner. A Limited Partner may require the Partnership to redeem any or all of such Limited Partner's units at Net Asset Value as of the close of business on the last day of any month upon advance written notice to the General Partner. The Limited Partnership Agreement contains a complete description of the Partnership's redemption policies and procedures. Note 6. TRADING ACTIVITIES AND RELATED RISKS ------------------------------------ The Partnership engages in the speculative trading of stock index futures contracts ("derivatives") on U.S. exchanges. The Partnership is exposed to both market risk, the risk arising from changes in the market value of the contracts, and credit risk, the risk of failure by another party to perform according to the terms of a contract. Purchase and sale of futures contracts requires margin deposits with the broker. Additional deposits may be necessary for any loss on contract value. The Commodity Exchange Act requires a broker to segregate all customer transactions and assets from such broker's proprietary activities. A customer's cash and other property (for example, U.S. Treasury bills) deposited with a broker are considered commingled with all other customer funds subject to the broker's segregation requirements. In the event of a broker's insolvency, recovery may be limited to a pro rata share of segregated funds available. It is possible that the recovered amount could be less than total cash and other property deposited. PROFUTURES LONG/SHORT GROWTH FUND, L.P. NOTES TO FINANCIAL STATEMENTS (CONTINUED) (Unaudited) ----------- Note 6. TRADING ACTIVITIES AND RELATED RISKS (CONTINUED) ------------------------------------------------ The Partnership has assets on deposit with financial institutions in connection with its cash management activities. In the event of a financial institution's insolvency, recovery of Partnership assets on deposit may be limited to account insurance or other protection afforded such deposits. In the normal course of business, the Partnership does not require collateral from such financial institutions. For derivatives, risks arise from changes in the market value of the contracts. Theoretically, the Partnership is exposed to a market risk equal to the value of futures contracts purchased and unlimited liability on such contracts sold short. The fair value of derivatives represents unrealized gains and losses on open futures contracts. The average fair value of derivatives during the nine months ended September 30, 1999 and 1998 was approximately $38,000 and $340,000, respectively, and the related fair values at September 30, 1999 and December 31, 1998 are approximately $5,046,000 and $1,163,000, respectively. Net trading results from derivatives for the nine and three months ended September 30, 1999 and 1998, are reflected in the statement of operations and equal gain (loss) from trading less brokerage commissions. Such trading results reflect the net gain (loss) arising from the Partnership's speculative trading of futures contracts. Open contracts generally mature within three months, however, the Partnership intends to close all contracts prior to maturity. At September 30, 1999, the maturity date for all open contracts is December 1999, and at December 31, 1998, the maturity date for all open contracts is March 1999. At September 30, 1999, the notional amount of open contracts to sell totaled approximately $111,200,000, and there were no open contracts to purchase. At December 31, 1998, the notional amount of open contracts to purchase totaled approximately $28,100,000, and there were no open contracts to sell. These amounts do not represent the Partnership's risk of loss due to market and credit risk, but rather represent the Partnership's extent of involvement in derivatives at the date of the statement of financial condition. The General Partner has established procedures to actively monitor market risk and minimize credit risk, although there can be no assurance that it will, in fact, succeed in doing so. The General Partner's basic market risk control procedures consist of continuously monitoring Hampton's trading activity with the actual market risk controls being applied by Hampton itself. The General Partner seeks to minimize credit risk primarily by depositing and maintaining the Partnership's assets at financial institutions and brokers which the General Partner believes to be creditworthy. The Limited Partners bear the risk of loss only to the extent of the market value of their respective investments and, in certain specific circumstances, distributions and redemptions received. Note 7. Registration of Additional Limited Partnership Units ---------------------------------------------------- In October 1999, the General Partner registered $40,000,000 of additional Limited Partnership Units with the Securities and Exchange Commission under the Securities Act of 1933. This registration carried forward $35,218,153 of unsold units from the previous registration; therefore, available unsold Limited Partnership Units as of the effective date of the registration will total $75,218,153. Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. A. LIQUIDITY: Substantially all of the Partnership's assets are highly liquid, such as cash or cash equivalents, open futures contracts and other financial instruments. It is possible that extreme market conditions or daily price fluctuation limits at exchanges could adversely affect the liquidity of open futures contracts. B. CAPITAL RESOURCES: Since the Partnership's business is purchase and sale of futures contracts, it will make few, if any, capital expenditures. In October 1999, the General Partner registered $40,000,000 of additional Limited Partnership Units with the Securities and Exchange Commission under the Securities Act of 1933. This registration carried forward $35,218,153 of unsold units from the previous registration; therefore, available unsold Limited Partnership Units as of the effective date of the registration will total $75,218,153. As of September 30, 1999, 22,637.5513 Units are outstanding, including 61.4461 General Partner Units, with an aggregate Net Asset Value of $43,208,949 ($1,908.73 per Unit). This represents an increase in Net Asset Value of $24,653,978 compared with December 31, 1998. The increase primarily relates to sales of limited partnership interests. C. RESULTS OF OPERATIONS: For the three months ended September 30, 1999, the Partnership had a net loss of $918,475, as compared to a net loss of $318,286 for the three months ended September 30, 1998. For the nine months ended September 30, 1999, the Partnership had net income of $434,108, as compared to net income of $505,553 for the nine months ended September 30, 1998. The Partnership engages in the speculative trading of stock index futures contracts on U.S. exchanges; therefore, operating results will fluctuate from period to period. The General Partner has established procedures to actively monitor market risk and minimize credit risk, although there can be no assurance that it will, in fact, succeed in doing so. The General Partner's basic market risk control procedures consist of continuously monitoring the Advisor's trading activity with the actual market risk controls being applied by the Advisor itself. The General Partner seeks to minimize credit risk primarily by depositing and maintaining the Partnership's assets at financial institutions and brokers which the General Partner believes to be creditworthy. D. POSSIBLE CHANGES: The General Partner reserves the right to terminate certain and/or engage additional trading advisors or change any of the Partnership's clearing arrangements. E. The Year 2000 Problem --------------------- Many existing computer systems use only two digits to refer to a year. This technique can cause the systems to treat the year 2000 as 1900, an effect commonly known as the "Year 2000 Problem." The Partnership, like other financial and business organizations, depends on the smooth functioning of computer systems and could be adversely affected if the computer systems on which it relies do not properly process and calculate date-related information concerning dates on or after January 1, 2000. The General Partner administers the business of the Partnership through various systems and processes maintained by the General Partner. The General Partner's modifications for Year 2000 systems compliance were substantially complete as of September 30, 1999. Additional testing is scheduled to take place during the remainder of 1999. Costs of this testing were included in previously approved budgets of the General Partner and future Year 2000 expenses are expected to be negligible. These expenditures are not expected to have a material adverse impact on the General Partner's financial position, results of operations or cash flows in future periods. The General Partner has and will continue to devote the necessary resources to address any remaining Year 2000 issues in a timely manner. The Partnership itself has no systems or information technology applications relevant to its operations and, thus has no expenses related to addressing the Year 2000 Problem In addition to the General Partner, the Partnership is dependent on the capability of the Advisor, the Chicago Mercantile Exchange, the Futures Broker and other third parties with whom the Partnership has material relationships to prepare adequately for the Year 2000 Problem and its impact on their systems and processes. The General Partner will monitor the Partnership's direct service providers, and may, where deemed appropriate, seek assurances from such service providers that they are taking all necessary steps to ensure that their computer systems will accurately reflect the Year 2000. No assurance can be given that the service providers have anticipated every step necessary to avoid any adverse effect attributable to the Year 2000 Problem, and there can be no assurance that the General Partner has anticipated every step necessary to avoid any adverse effect on the Partnership attributable to the Year 2000 issue. The failure of the Partnership's futures exchanges, clearing organizations, venders or regulators to resolve their own processing issues in a timely manner could result in a material financial risk. The Advisor has taken action to identify any of its computer systems that are Year 2000 vulnerable and has, to date, found none. The Advisor will notify the General Partner in a timely manner if it should discover a Year 2000 vulnerable system it is unable to correct by January 1, 2000. The Chicago Mercantile Exchange has successfully completed four industry-wide tests in conjunction with the Futures Industry Association. These tests revealed no problems related to the Year 2000 Problem for the Chicago Mercantile Exchange. The Futures Broker is addressing its Year 2000 issues and has participated in Year 2000 testing with various exchanges. The Futures Broker participated in the Futures Industry Association Y2K industry-wide test for Year 2000 compliance during the first and second quarters of 1999. The General Partner is monitoring the progress of the Futures Broker and the Chicago Mercantile Exchange in addressing their Year 2000 issues. The most likely and most significant risk to the Partnership associated with the lack of Year 2000 readiness is the failure of third parties, including the Advisor, the Futures Broker, the Chicago Mercantile Exchange and various regulators to resolve their Year 2000 issues in a timely manner. This risk could involve the temporary inability to transfer funds electronically or to determine the Net Asset Value of the Partnership, in which case sales could be suspended and/or redemption payments delayed until the Partnership's assets could be valued and/or funds could be transferred. If the General Partner believes, prior to December 31, 1999, that any of the Advisor, the Futures Broker or the Chicago Mercantile Exchange has failed to resolve a Year 2000 issue likely to have a material adverse impact on the Partnership, the General Partner will direct the Advisor to attempt to close any Partnership positions and to remain out of the market until such issue is resolved. PART II - OTHER INFORMATION Item 1. Legal Proceedings. None. Item 2. Changes in Securities. The General Partner registered $60,000,000 of additional Limited Partnership Units with the Securities and Exchange Commission under the Securities Act of 1933. The Registration Statement on Form S-1 became effective February 16, 1999. The offering commenced immediately following the effective date of the Registration Statement. The proceeds from the sale of 13,534 Limited Partnership Units totaled $25,476,715 through September 30, 1999 and are available to support the Partnership trading activity. The offering of Limited Partnership Units is continuing. The General Partner pays all offering costs and receives 1% of the subscription price of each unit as reimbursement. Such reimbursement of offering costs totaled $254,766 through September 30, 1999. In October 1999, the General Partner registered $40,000,000 of additional Limited Partnership Units with the Securities and Exchange Commission under the Securities Act of 1933. This registration carried forward $35,218,153 of unsold units from the previous registration; therefore, available unsold Limited Partnership Units as of the effective date of the registration will total $75,218,153. Item 3. Defaults Upon Senior Securities. Not Applicable. Item 4. Submission of Matters to a Vote of Security Holders. None. Item 5. Other Information. None. Item 6. Exhibits and Reports on Form 8-K. There were no reports filed on Form 8-K. Exhibits filed herewith: None. SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Partnership has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. PROFUTURES LONG/SHORTH GROWTH FUND, L.P. (Partnership) By /s/ Gary D. Halbert --------------------------------- Gary D. Halbert, President ProFutures, Inc., General Partner EX-27 2 ARTICLE 5 FDS FOR 3RD QUARTER 1999
5 1 9-MOS DEC-31-1999 SEP-30-1999 38,520,749 0 0 0 0 43,566,274 0 0 43,566,274 357,325 0 0 0 0 43,208,949 43,566,274 0 1,510,864 0 0 1,076,756 0 0 434,108 0 434,108 0 0 0 434,108 26.86 26.86
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