Financial Highlights (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Financial Highlights reflecting changes in net asset value per Redeemable Unit and relevant ratios

	Three			Three			Six			Six
	Months Ended			Months Ended			Months Ended			Months Ended
	June 30,			June 30,			June 30,			June 30,
	2020			2019			2020			2019
Per share operating performance: (a)
Members’ capital per Redeemable Unit, beginning of period	$	970.42		$	1,122.14		$	1,100.03		$	1,126.62
Income/(loss) from investment operations:
Net investment (loss) including incentive fee		(11.00)			(9.69)			(22.50)			(19.05)
Net realized and unrealized gain/(loss) from investment activities		(111.29)			(19.94)			(229.40)			(15.06)
Total from investment operations		(122.29)			(29.63)			(251.90)			(34.11)
Members’ capital per Redeemable Unit, end of period	$	848.13		$	1,092.51		$	848.13		$	1,092.51

Ratio/Supplemental Data: (b)
Ratio of net investment loss to average Members’ capital		(4.93)	%		(3.58)	%		(4.67)	%		(3.53)	%
Ratio of total expenses to average Members’ capital		6.29	%		6.16	%		6.19	%		6.09	%
Ratio of incentive fee to average Members’ capital		—	%		—	%		—	%		—	%
Ratio of total expenses and incentive fee to average Members’ capital		6.29	%		6.16	%		6.19	%		6.09	%

Total return before incentive fee (c)		(12.60)	%		(2.64)	%		(22.90)	%		(3.03)	%
Incentive fee		—	%		—	%		—	%		—	%
Total return after incentive fee		(12.60)	%		(2.64)	%		(22.90)	%		(3.03)	%

Members’ capital at end of period	$	58,726,893		$	110,094,987		$	58,726,893		$	110,094,987

Total return and the ratios to average Member’s capital are calculated for investor’s capital taken as a whole. An individual investor’s capital may vary from these ratios and total return based on the timing of capital transactions.

(a)

Per share operating performance is calculated on a monthly basis by dividing each line item by the outstanding units at month-end prior to the reduction of redeemed units.

(b)

The ratios to average Members’ capital are annualized. The average Members’ capital used in the above ratios is an average of each month-end Members’ capital during the period. Ratios include the Fund's share of income and expense allocated from the Master Fund.

(c)

Total return assumes a purchase of an interest in the Fund at the beginning of the period and a sale of the interest on the last day of the period noted. Total return is reflected after all investment-related and operating expenses, including the Advisory and Administrative fees. Total return is not annualized.

Sydling WNT Master Fund LLC

Financial Highlights of the Fund

Schedule of Financial Highlights reflecting changes in net asset value per Redeemable Unit and relevant ratios

	Three			Three			Six			Six
	Months Ended			Months Ended			Months Ended			Months Ended
	June 30,			June 30,			June 30,			June 30,
	2020			2019			2020			2019
Ratio/Supplemental Data: (a)
Ratio of net investment loss to average member’s capital		(2.46)	%		(1.26)	%		(2.27)	%		(1.23)	%
Ratio of total expenses to average member’s capital		3.82	%		3.84	%		3.79	%		3.80	%
Total return (b)		(12.07)	%		(2.09)	%		(21.97)	%		(1.94)	%
Member’s capital at end of period	$	58,726,893		$	110,094,987		$	58,726,893		$	110,094,987

(a)

The ratios to average Member’s capital are annualized. The average Member’s capital used in the above ratios is an average of each month-end member's capital during the period.

(b)

Total return is calculated based on a time-weighted rate of return methodology. Monthly rates of return are compounded to derive the total return reflected above. Total return is reflected after all investment-related and operating expenses. Total return is not annualized.

Cavendish Futures Fund LLC 10-Q