0001144204-11-036962.txt : 20110622 0001144204-11-036962.hdr.sgml : 20110622 20110622142005 ACCESSION NUMBER: 0001144204-11-036962 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20110622 DATE AS OF CHANGE: 20110622 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CAMPBELL ALTERNATIVE ASSET TRUST CENTRAL INDEX KEY: 0001114485 STANDARD INDUSTRIAL CLASSIFICATION: [6221] IRS NUMBER: 522238521 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 333-74014 FILM NUMBER: 11925411 BUSINESS ADDRESS: STREET 1: 2850 QUARRY LAKE DRIVE CITY: BALTIMORE, STATE: MD ZIP: 21209 BUSINESS PHONE: 410-413-2660 MAIL ADDRESS: STREET 1: 2850 QUARRY LAKE DRIVE CITY: BALTIMORE, STATE: MD ZIP: 21209 FORMER COMPANY: FORMER CONFORMED NAME: CAMPBELL ASSET ALLOCATION TRUST DATE OF NAME CHANGE: 20000511 424B3 1 v226666_424b3.txt CAMPBELL ALTERNATIVE ASSET TRUST MONTHLY REPORT - MAY 2011 ----------- STATEMENT OF CHANGES IN NET ASSET VALUE --------------------------------------- Net Asset Value (16,795.488 units) at April 30, 2011 $ 30,175,274 Additions of 34.786 units on May 31, 2011 60,433 Redemptions of (16,830.274) units on May 31, 2011 (29,238,603) Offering Costs 0 Net Income - May 2011 (997,104) ------------- Net Asset Value (0.000 units) at May 31, 2011 $ 0 ============= Net Asset Value per Unit at May 31, 2011 $ 1,737.26 ============= STATEMENT OF INCOME (LOSS) -------------------------- Income: Gains (losses) on futures contracts: Realized $ 126,580 Change in unrealized (815,158) Gains (losses) on forward and options on forward contracts: Realized (17,887) Change in unrealized (186,393) Net Investment Income (Loss) 478 ------------- (892,380) ------------- Expenses: Brokerage fee 78,921 Performance fee 0 Operating expenses 25,803 ------------- 104,724 ------------- Net Income (Loss) - May 2011 $ (997,104) ============= FUND STATISTICS --------------- Net Asset Value per Unit on May 31, 2011 $ 1,737.26 Net Asset Value per Unit on April 30, 2011 $ 1,796.63 Unit Value Monthly Gain (Loss) % (3.30)% Fund 2011 calendar YTD Gain (Loss) % (0.92)% To the best of my knowledge and belief, the information contained herein is accurate and complete. /s/ Theresa D. Becks ----------------------------------------- Theresa D. Becks, Chief Executive Officer Campbell & Company, Inc. Managing Owner Campbell Alternative Asset Trust Prepared without audit Dear Investor, Diversification Helps Limit Losses in a Dramatic Commodity Reversal... In many ways, the commodity markets took center stage in May as the Trust put another volatile month behind. The petroleum complex sold off substantially on May 5th, despite the lack of any oil-related fundamental data. In addition, precious metals saw a significant decline with the price of silver dropping 24%, giving back the entire April rally. While the Trust suffered losses in these sectors, our models significantly reduced long commodity exposure on the abrupt reversal in price action and spike in volatility throughout the month. Trading in global equities also generated losses on softer economic data, Wall Street lowering U.S. growth forecasts, and renewed European sovereign debt concerns mainly focused on Greece. While positions have been reduced in this sector, regional risk was rotated out of Europe and back to the U.S. Losses were also recorded in currency trading as the U.S. Dollar rallied against most major currencies. The Trust's long Euro position produced the biggest currency loss, as the European Central Bank disappointed expectations of rate hikes at its May policy meeting. Fixed income trading produced strong positive results, helping to mitigate losses in riskier assets as the flight-to-quality theme was dominant in May. Once again, a steady risk posture and a discipline centered on diversification helped the Trust navigate a very volatile month for our strategy space. Please do not hesitate to call me with questions. Sincerely, Terri Becks President & CEO Campbell & Company, Inc. Managing Owner Campbell Alternative Asset Trust