Financial Highlights (Tables)

12 Months Ended

Dec. 31, 2024

The following information presents per unit operating performance data and other ratios for the years ended December 31, 2024, 2023 and 2022, assuming the unit was outstanding throughout the entire year:


	2024
	Class A			Class A2			Class B			Class I			Class R
Per Unit Operating Performance

Net asset value per unit, beginning of year	$	4,052.52		$	1,106.83		$	6,816.97		$	1,178.69		$	1,142.67

Net realized and change in unrealized gain (loss) on investments ⁽¹⁾		48.34			12.54			71.45			11.07			11.83
Net investment income (loss) ⁽¹⁾		(90.60	)		(8.76	)		(20.98	)		8.89			(1.09	)
Total income (loss) from operations		(42.26	)		3.78			50.47			19.96			10.74

Net asset value per unit, end of year	$	4,010.26		$	1,110.61		$	6,867.44		$	1,198.65		$	1,153.41

Total return		(1.04	)%		0.34	%		0.74	%		1.69	%		0.94	%

Other Financial Ratios
Ratios to average net asset value
Expenses prior to General Partner 1% allocation ⁽²⁾		6.42	%		5.38	%		4.58	%		3.57	%		4.37	%
General Partner 1% allocation		0.00	%		0.02	%		0.01	%		0.02	%		0.02	%
Net total expenses		6.42	%		5.40	%		4.59	%		3.59	%		4.39	%

Net investment income (loss) ^{(2) (3)}		(2.11	)%		(0.70	)%		(0.27	)%		0.72	%		(0.07	)%


	2023
	Class A			Class A2			Class B			Class I			Class R
Per Unit Operating Performance

Net asset value per unit, beginning of year	$	4,372.11		$	1,177.64		$	7,224.40		$	1,237.43		$	1,208.56

Net realized and change in unrealized gain (loss) on investments ⁽¹⁾		(229.78	)		(60.79	)		(387.10	)		(67.28	)		(65.26	)
Net investment income (loss) ⁽¹⁾		(89.81	)		(10.02	)		(20.33	)		8.54			(0.63	)
Total income (loss) from operations		(319.59	)		(70.81	)		(407.43	)		(58.74	)		(65.89	)

Net asset value per unit, end of year	$	4,052.52		$	1,106.83		$	6,816.97		$	1,178.69		$	1,142.67

Total return		(7.31	)%		(6.01	)%		(5.64	)%		(4.75	)%		(5.45	)%

Other Financial Ratios
Ratios to average net asset value
Expenses prior to General Partner 1% allocation ⁽²⁾		5.71	%		4.34	%		3.90	%		2.89	%		3.65	%
General Partner 1% allocation		(0.07	)%		(0.07	)%		(0.05	)%		(0.05	)%		(0.05	)%
Net total expenses		5.64	%		4.27	%		3.85	%		2.84	%		3.60	%

Net investment income (loss) ^{(2) (3)}		(2.17	)%		(0.94	)%		(0.34	)%		0.65	%		(0.11	)%

								†								†
	2022
	Class A			Class A2			Class A3†			Class B			Class I			Class R†
Per Unit Operating Performance

Net asset value per unit, beginning of year	$	4,046.32		$	1,074.85		$	1,041.81		$	6,567.70		$	1,114.41		$	1,096.53

Net realized and change in unrealized gain (loss) on investments ⁽¹⁾		637.69			170.40			221.97			1,031.19			173.43			171.00
Net investment income (loss) ⁽¹⁾		(311.90	)		(67.61	)		(46.47	)		(374.49	)		(50.41	)		(58.97	)
Total income (loss) from operations		325.79			102.79			175.50			656.70			123.02			112.03

Redemption value per share		—			—			(1,217.31	)		—			—			—

Net asset value per unit, end of year	$	4,372.11		$	1,177.64		$	—		$	7,224.40		$	1,237.43		$	1,208.56

Total return		8.05	%		9.56	%		16.85	%		10.00	%		11.04	%		10.22	%

Other Financial Ratios
Ratios to average net asset value
Expenses prior to General Partner 1% allocation ⁽²⁾		8.25	%		6.90	%		4.27	%		6.38	%		5.32	%		6.10	%
General Partner 1% allocation		0.08	%		0.09	%		0.16	%		0.10	%		0.10	%		0.09	%
Net total expenses ⁽³⁾		8.33	%		6.99	%		4.43	%		6.48	%		5.42	%		6.19	%

Net investment income (loss) ^{(2) (4)}		(6.87	)%		(5.55	)%		(4.04	)%		(5.00	)%		(3.92	)%		(4.70	)%

†

Class A3 units were fully redeemed on July 1, 2022. The total return for 2022 is for the period from January 1, 2022 to June 30, 2022 and is not annualized.

Total returns are calculated based on the change in value of a Class A, Class A2, Class A3, Class B, Class I or Class R Unit during the year. An individual partner’s total returns and ratios may vary from the above total returns and ratios based on the timing of subscriptions and redemptions.

⁽¹⁾		The net investment income (loss) per unit is calculated by dividing the net investment income (loss) by the average number of Class A, A2, A3, B, I or R Units outstanding during the period. Net realized and change in unrealized gain (loss) on investments is a balancing amount necessary to reconcile the change in net asset value per unit with the other per unit information. Such balancing amount may differ from the calculation of net realized and change in unrealized gain (loss) on investment per unit due to the timing of investment gains and losses during the period relative to the number of units outstanding.
⁽²⁾		The net investment income (loss) includes interest income and excludes net realized and net change in unrealized gain (loss) from investment activities as shown in the statements of operations. The total amount is then reduced by all expenses, excluding brokerage commissions, which are included in net investment gain (loss) in the statements of operations. The resulting amount is divided by the average net asset value for the period.
⁽³⁾		Ratio excludes expenses from investment in private investment company.
⁽⁴⁾		Ratio excludes General Partner 1% allocation.

LOCORR FUTURES PORTFOLIO FUND L.P. 10-K