EFTA Document EFTA01384592

HUBUS133 Alpha Group Capital HUDSON BAY CAPITAL Portfolio Level Risk Mitigation Maintaining Portfolio Diversification is a Critical Component of Risk Management • Industry standard measures of diversification like correlation and covariance have not kept pace with the increasing complexity and dynamism of today's financial instruments Risk Management Hudson Bay Approach • Proprietary RMon system` monitors diversification using cluster analysis • Seek to identify concentration risk in the portfolio • Focus on economically significant relationships; filters out noise Philosophy: Rion - Gerber Statistic Practice: R.Mon - Deal Code (luster Analysis 4 $6aux S&P 600 20tos $I3(.(ik i t: -ttiP,• •-• ..• :•-.!•• : ;;II• Pa 44 41 - • O. T • M. 4 3, .4 . UM OM T. • 4•1 • ..... • St I/ JIMMIES& T, 4 i tee. • g - ea 0 Mee. re . .7-. empe )Nit aemit ,..• • ..". 4 IN # 44.4 1 42% 4 4.--to 14. •1 Mit 4,4 7 a if Lev, , .t.Wifillir -AT. , 43 C IC, t finilL •311.: 14, 4 .41 4V1. An 4 4.4 mop :...,, . en. % I% .ne. 6 In- :..... COME. Mena .1.41 XL. 1 5 to 5 Nell '.! 71 3 11 €41jn.4 T. 4 . 1 t 11 .1 449 • 241 • ft. • Y. s ..... 4 •ell. e 04. BM Le• • er. 4, ) Xi t 3/ I/ t X/ 3/ 3 Se. MEV 37. I in . ;.. a an. ) r. • O. .0. • 0. 20. 'I 2T: 0 MI 1.. $ in . 41 S I 44 4 1. I 34 e CI" WA on • I et Sift: X , 414 T PIN T 11.11 • .1.4 Jee 44 11 0 .140 1144 3.43 57.• 347 ▪ .3 MOP :•7 oft w a Y. let A r s W' O tin • 2.•% ccaNIPME, $ a, • .0. . .ix 4 :Oa T. 4, 334 III • T. $11 .•••4 4.1 4 IR Hell LK - falre "" :raging, ni eve :Tut 4 CM I Ten, .1, SRN TM. • X.44 re $4.4 34% 4 T. 11 an 4 V- I in :.r • - ate,. 11 71 t AN. Mir 1, 4/. TN. 5 MAI 4 .14. 5 .4.4 t 4 T3 33.. MI K •3•1 ".. ••" S 3.3% 3' 3 3 ' 31' 3 •fl •-•3 33' `C. .3 • 3333 .tec 0, • c• 1 )74 :VI aft I/ 3 473 T.44 4 ITU • .24 • I lb/ a et • Arn Y. .2114 tWe 5 .1 .4 1 IN 4 te1 11% IN •••Th . 41 ) N. • el 4 112...1 3N I .11111 Id/ II MS I 44415 'flaws 4 7. A, lets •9••••••k 2 IN% :ILIA: 445 ) IN 4.4, • :4 sit. •Whl An. I >et c•A or. in, • • w ..4.3 .3 tie% • t • Please refer to the Appendix for more details information on our Risk Monitoring and Mitigation Systems • US Patent No. 8.577.775 and additional patents pending CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0084911 PROT1 PROT0