Item 1: Business

Item 3 2: LEGAL PROCEEDINGSPROPERTIES

Item 4 3: MINELEGAL SAFETY DISCLOSURESPROCEEDINGS

6Item 4: MINE SAFETY DISCLOSURES

Item 7 6: Management’sSelected Discussionfinancial and Analysis of Financial Condition and Results of Operationsdata

(a)Item Capital7: ResourcesManagement’s Discussion and Analysis of Financial Condition and Results of Operations

BecauseItem the8: Partnershipfinancial isstatements aand Smaller Reporting Company, as defined by Rule 229.10(f)(1), the supplementary financial information required by Item 302 of Regulation S-K is not required.data

Item 9A9: CONTROLSchanges ANDin PROCEDURESand disagreements with accountants on accounting and financial disclosure

(i) AsItem a10: limited partnershipDIRECTORS, the PartnershipEXECUTIVE itselfOFFICERS hasAND noCORPORATE officers, directors or employees. The Partnership’s affairs are managed by the General Partner. Trading decisions are made by the General Partner on behalf of the Partnership.GOVERNANCE

None.Item 11: executive compensation

AsItem of12: FebruarySecurity 28,Ownership 2013, the General Partner knows of theCertain followingBeneficial personsOwners whoand ownManagement beneficiallyand morerelated thanstockholder 5% of the Partnership’s Interests as follows:matters

PARTItem IV14: principal accounting fees and services

TheItem following15: documents (unlessEXHIBITS, otherwiseFINANCIAL indicated)STATEMENT are filed herewith and made part of this registration statement.SCHEDULES

Item 1: Business

Item 3 2: LEGAL PROCEEDINGSPROPERTIES

Item 4 3: MINELEGAL SAFETY DISCLOSURESPROCEEDINGS

6Item 4: MINE SAFETY DISCLOSURES

ThereItem is5: no trading market for theregistrant’s Interestscommon equity, andrelated nonestockholder ismatters likelyand toissuer develop.purchaseS Interestsof mayequity be redeemed or transferred subject to the conditions imposed by the Limited Partnership Agreement.securities

Item 7 6: Management’sSelected Discussionfinancial and Analysis of Financial Condition and Results of Operationsdata

(a)Item Capital7: ResourcesManagement’s Discussion and Analysis of Financial Condition and Results of Operations

BecauseItem the8: Partnershipfinancial isstatements aand Smaller Reporting Company, as defined by Rule 229.10(f)(1), the supplementary financial information required by Item 302 of Regulation S-K is not required.data

Item 9A9: CONTROLSchanges ANDin PROCEDURESand disagreements with accountants on accounting and financial disclosure

(i) AsItem a10: limited partnershipDIRECTORS, the PartnershipEXECUTIVE itselfOFFICERS hasAND noCORPORATE officers, directors or employees. The Partnership’s affairs are managed by the General Partner. Trading decisions are made by the General Partner on behalf of the Partnership.GOVERNANCE

None.Item 11: executive compensation

AsItem of12: FebruarySecurity 28,Ownership 2013, the General Partner knows of theCertain followingBeneficial personsOwners whoand ownManagement beneficiallyand morerelated thanstockholder 5% of the Partnership’s Interests as follows:matters

PARTItem IV14: principal accounting fees and services

TheItem following15: documents (unlessEXHIBITS, otherwiseFINANCIAL indicated)STATEMENT are filed herewith and made part of this registration statement.SCHEDULES

UNITED ~~STATES SECURITIES~~STATESSECURITIES AND EXCHANGE ~~COMMISSION Washington~~COMMISSIONWashington, D.C. 20549

FORM 10-K

(Mark One)

x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2013

For the fiscal year ended December 31, 2012

¨	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

_______________________

Commission file number: 000-52599

AIS FUTURES FUND IV L.P. ~~(Exact name of registrant as specified in its charter)~~

~~DELAWARE~~ (~~State~~Exact orname ~~other jurisdiction~~ of ~~incorporation~~registrant oras ~~organization)~~specified ~~13-3909977~~in ~~(I.R.S.~~its ~~Employer Identification No.~~charter)

c/o AIS FUTURES MANAGEMENT LLC 187 Danbury Road, Suite 201

DELAWARE		13-3909977
(State or other jurisdiction of		(I.R.S. Employer
incorporation or organization)		Identification No.)

~~Wilton, Connecticut~~ ~~06897 (Address~~c/o ofAIS ~~principal~~CAPITAL ~~executive~~MANAGEMENT, ~~offices)~~L.P.187 ~~(zip~~Danbury ~~code)~~Road, Suite 201

Wilton, Connecticut 06897
(Address of principal executive offices) (zip code)

(203)563-1180

Securities registered pursuant to Section 12(b) of the Act: None

Securities registered pursuant to Section 12(g) of the Act: Limited Partnership Interests

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes ¨ ~~Nox~~No x

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

Yes ¨ ~~Nox~~No x

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 ¨

Indicate by check mark whether the registrant has submitted electronically or posted on its corporate Website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

Yes x No ¨

Indicate by check mark if the disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of the registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.

x ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ¨	Accelerated filer ¨

Non-accelerated filer ¨	Smaller reporting company x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).

Yes ¨ ~~Nox~~ No x

State the aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant’s most recently completed second fiscal quarter.

Not Applicable.

DOCUMENTS INCORPORATED BY REFERENCE

None.

TABLE OF CONTENTS

Part I Item 1: Business 1 Item 1A: Risk Factors 6 Item 1B: Unresolved Staff Comments 6 Item 2: Properties 6 Item 3: Legal Proceedings 6 Item 4: Mine Safety Disclosures 6 Part II Item 5: Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 7 Item 6: Selected Financial Data 7 Item 7: Management’s Discussion and Analysis of Financial Condition and Results of Operations 7 Item 7A: Quantitative and Qualitative Disclosures About Market Risk 11 Item 8: Financial Statements and Supplementary Data 11 Item 9: Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 11 Item 9A: Controls and Procedures 11 Item 9B: Other Information 12 Part III Item 10: Directors, Executive Officers and Corporate Governance 13 Item 11: Executive Compensation 14 Item 12: Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 14 Item 13: Certain Relationships and Related Transactions, and Director Independence 15 Item 14: Principal Accounting Fees and Services 16 Part IV Item 15: Exhibits, Financial Statement Schedules 17

Part I

Item 1:	Business	1

Item 1A:	Risk Factors	6

Item 1B:	Unresolved Staff Comments	6

Item 2:	Properties	6

Item 3:	Legal Proceedings	6

Item 4:	Mine Safety Disclosures	6

Part II

Item 5:	Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	7

Item 6:	Selected Financial Data	7

Item 7:	Management’s Discussion and Analysis of Financial Condition and Results of Operations	8

Item 7A:	Quantitative and Qualitative Disclosures About Market Risk	11

Item 8:	Financial Statements and Supplementary Data	11

Item 9:	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	11

Item 9A:	Controls and Procedures	11

Item 9B:	Other Information	12

Part III

Item 10:	Directors, Executive Officers and Corporate Governance	13

Item 11:	Executive Compensation	15

Item 12:	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	15

Item 13:	Certain Relationships and Related Transactions, and Director Independence	16

Item 14:	Principal Accounting Fees and Services	16

Part IV

Item 15:	Exhibits, Financial Statement Schedules	17

PART I

(a) General Development of Business

~~AIS~~ AIS Futures Fund IV L.P. (the “Partnership”) is a Delaware limited partnership organized on August 28, 1996 under the Delaware Revised Uniform Limited Partnership Act. AIS ~~Futures~~Capital Management, ~~LLC~~L.P. (“AIS” or the “General Partner”), a Delaware limited liability company, is the general partner and trading advisor of the Partnership. The Partnership’s business is speculative trading of futures contracts, options on futures contracts and physical commodities and other commodity-related contracts traded primarily on domestic markets (collectively “Futures Contracts”) pursuant to the trading and investment methodology of AIS. The Partnership holds a substantial majority of its assets in United States Treasury bills as margin, or available for margin, to support its futures trading activity. The Partnership began its trading activities on February 2, 1997. Under its Limited Partnership Agreement, as amended through the date of this annual report (the “Limited Partnership Agreement”), the Partnership has delegated all aspects of the Partnership’s management to AIS. Accordingly, AIS controls and manages the business of the Partnership, and purchasers of limited partnership interests (“Interests”) in the Partnership, as the Partnership’s “Limited Partners,” have no right to participate in management or control of the Partnership.

~~AIS~~ isIn ~~the~~September ~~successor~~2013, pursuant to an internal reorganization of AIS Futures Management, ~~Inc.~~LLC, ~~has~~then ~~been~~the ~~continuously~~General ~~registered~~Partner ~~with~~of the ~~Commodity~~Partnership, ~~Futures~~and ~~Trading~~its ~~Commission (“CFTC”)~~affiliate, asAIS aCapital ~~Commodity~~Management ~~Pool~~LLC, ~~Operator~~AIS ~~(“CPO”)~~Futures ~~since~~Management ~~May~~LLC ~~14,~~merged ~~1990~~with and asinto aAIS ~~Commodity~~Capital ~~Trading~~Management, ~~Advisor~~L.P. (~~“CTA”~~a Delaware limited partnership created by the conversion of AIS Capital Management LLC into a limited partnership) ~~since~~. The ~~August~~general 20partner of AIS Capital Management, ~~1992~~L.P. is AIS General Partner, LLC, a Delaware limited liability company. By operation of law and ~~has~~pursuant ~~been~~to aSection ~~member~~10 of the ~~National~~Partnership’s ~~Futures~~Limited ~~Association~~Partnership ~~(“NFA”)~~Agreement, inAIS ~~such~~Capital ~~capacities~~Management, ~~since~~L.P. ~~such dates~~then became, and was admitted as, the General Partner of the Partnership.

As AIS, inclusive of ~~February~~ ~~28,~~its ~~2013~~predecessors, has been continuously registered with the ~~aggregate~~Commodity ~~net~~Futures ~~asset~~Trading ~~value~~Commission of(“CFTC”) ~~the~~as ~~Partnership~~a ~~was~~Commodity ~~$64~~Pool Operator (“CPO”) since May 14,~~357~~ 1990 and as a Commodity Trading Advisor (“CTA”) since August 20,~~385~~ 1992, and has been a member of the National Futures Association (“NFA”) since such dates.

~~The Partnership’s~~ ~~fiscal~~As ~~year~~of ~~ends~~February on28, ~~December~~2014, 31the aggregate net asset value of the Partnership was $41,665,433.38.

The Partnership ~~has~~’s nofiscal ~~subsidiaries~~year ends on December 31.

~~The~~ ~~Partnership~~The ~~will terminate when the first of the following occurs: (i) December 31, 2026; (ii) a decline in the Net Assets of the~~ Partnership as of the close of business in New York, New York to $50,000 or less; (iii) the withdrawal (including withdrawal after suspension of trading), dissolution, bankruptcy or removal of the General Partner (unless a new general partner has ~~been substituted~~no ~~and the Partnership is continued); or (iv) any event which shall make unlawful the continued existence of the Partnership or requiring termination of the Partnership~~subsidiaries. “Net Assets” of the Partnership means the sum of all cash and cash equivalents, plus U.S. Treasury bills at cost plus accrued interest, plus the liquidating value of all open commodity positions maintained by the Partnership, less all liabilities of the Partnership determined in accordance with generally accepted accounting principles.

~~The~~ The Partnership ~~has~~will ~~not,~~terminate towhen ~~date~~the first of the following occurs: (i) December 31, 2026; (1ii) ~~been~~a decline in the ~~subject~~Net Assets of ~~any~~the ~~bankruptcy~~Partnership as of the close of business in New York, ~~receivership~~New ~~or similar~~York ~~proceeding~~to $50,000 or less; (2iii) ~~undergone~~the ~~any~~withdrawal ~~material~~(including ~~reclassification~~withdrawal after suspension of trading), ~~merger~~dissolution, bankruptcy or ~~consolidation,~~removal of the General Partner (3unless a new general partner has been substituted and the Partnership is continued); ~~had~~or (iv) any ~~material~~event ~~amount~~which shall make unlawful the continued existence of ~~its~~the ~~assets acquired~~Partnership or ~~disposed~~requiring termination of ~~other~~the ~~than~~Partnership. “Net inAssets” of the ~~ordinary~~Partnership ~~course~~means the sum of ~~its~~all ~~business~~cash and cash equivalents, orplus ~~(4)~~U.S. ~~undergone~~Treasury ~~any~~bills ~~material~~at ~~changes~~cost inplus accrued interest, plus the ~~mode~~liquidating value of ~~conducting~~ ~~its~~all ~~business~~open commodity positions maintained by the Partnership, less all liabilities of the Partnership determined in accordance with generally accepted accounting principles.

The Partnership has not, to date, (b1) ~~Financial~~been ~~Information~~the ~~About~~subject ~~Segments~~of any bankruptcy, receivership or similar proceeding, (2) undergone any material reclassification, merger or consolidation, (3) had any material amount of its assets acquired or disposed of other than in the ordinary course of its business, or (4) undergone any material changes in the mode of conducting its business.

~~The~~ ~~Partnership’s business constitutes only one segment for financial reporting purposes – a speculative commodity pool. The Partnership does not engage in sales of goods or services.~~ (b) Financial ~~information~~Information ~~regarding the~~About ~~Partnership’s business is set forth in the Partnership’s financial statements, included herewith.~~Segments

~~(c)~~ The ~~Narrative~~Partnership’s ~~Description~~business constitutes only one segment for financial reporting purposes – a speculative commodity pool. The Partnership does not engage in sales of ~~Business~~goods or services. Financial information regarding the Partnership’s business is set forth in the Partnership’s financial statements, included herewith.

~~General~~1

~~The~~ ~~Partnership was organized to engage in speculative trading of Futures Contracts~~ (~~as defined above~~c). Narrative ~~AIS~~Description ~~has~~of authority over the Partnership’s assets to trade in the futures and forward markets. Newedge USA, LLC and ADM Investor Services, Inc. (together, the “Commodity Brokers”) currently serve as the Partnership’s commodity brokers. Business

1 General

~~The~~ The Partnership ~~trades~~was organized to engage in speculative trading of Futures Contracts ~~pursuant~~(as todefined aabove). AIS ~~multi-asset~~has ~~investment~~authority ~~program~~over ~~called~~ the ~~Multi~~Partnership’s ~~Asset~~assets ~~Allocation~~to ~~Portfolio~~trade ~~(“MAAP”). MAAP~~in ~~was~~the ~~developed~~futures byand ~~Mr. John~~forward Rmarkets. Newedge ~~Hummel~~USA, LLC and ~~Mr.~~ADM ~~Bradley~~Investor CServices, Inc. ~~Stern~~(together, ~~principals~~the ~~and~~“Commodity ~~members~~Brokers”) ofcurrently ~~AIS.~~serve as the Partnership’s commodity brokers.

~~The~~ The Partnership ~~generally~~trades ~~maintains positions, both long (contracts to buy) and short (contracts to sell), in~~ Futures Contracts ~~with a~~pursuant ~~notional value equal~~ to ~~between~~a ~~approximately~~multi-asset ~~two~~investment ~~and~~program ~~four~~called ~~times~~ the ~~Partnership’s~~Multi ~~aggregate~~Asset ~~net~~Allocation ~~asset~~Portfolio ~~value~~(“MAAP”). MAAP ~~Except~~was ~~for temporary~~developed ~~deviations~~by ~~from~~Mr. John ~~time~~R. toHummel ~~time,~~and ~~for~~Mr. ~~example,~~Bradley asC. ~~the value of the contracts purchased at the onset of a new position change or as prices in the market move up or down substantially~~Stern, ~~leverage~~principals inand ~~the~~partners ~~Partnership ranges from zero to a level not significantly greater than four times the total capital~~ of ~~the Partnership. Depending on MAAP trading signals and~~ AIS~~’ discretionary input, the leverage in the Partnership may be significantly less than four times total capital~~.

~~Description~~ The Partnership generally maintains positions, both long (contracts to buy) and short (contracts to sell), in Futures Contracts with a notional value equal to between approximately two and four times the Partnership’s aggregate net asset value. Except for temporary deviations from time to time, for example, as the value of ~~Trading~~the ~~Approach~~contracts purchased at the onset of a new position change or as prices in the market move up or down substantially, leverage in the Partnership ranges from zero to a level not significantly greater than four times the total capital of the Partnership. Depending on MAAP trading signals and AIS’ discretionary input, the leverage in the Partnership may be significantly less than four times total capital.

In ~~trading~~Description for the Partnership, AIS employs its MAAP strategy. MAAP is a discretionary, long-term oriented investment strategy. The MAAP investment process begins with a global macro-economic analysis and then uses a technical and systematic study of ~~current trends~~Trading and futures contract valuation to determine the direction and size of positions to be taken in MAAP. Once in a position, the MAAP investment process includes consideration of both trend-following strategies and the valuation levels of the underlying futures contracts in making adjustments to position size and direction. The principals of AIS have used the MAAP investment process for over 20 years. Approach

~~MAAP~~ ~~maintains~~In ~~long~~trading for the Partnership, ~~short~~AIS oremploys ~~neutral~~its MAAP strategy. MAAP is a discretionary, long-term oriented investment strategy. The MAAP investment process begins with a global macro-economic analysis and then uses a technical and systematic study of current trends and futures contract valuation to determine the direction and size of positions to be taken in ~~markets~~MAAP. Once ~~within~~in ~~each~~a ofposition, the MAAP investment process includes consideration of both trend-following ~~six~~strategies ~~asset~~and ~~classes~~the ~~using~~valuation ~~futures~~levels ~~contracts,~~of ~~options on~~the underlying futures contracts orin amaking ~~combination~~adjustments to position size and direction. The principals of ~~both:~~AIS ~~equities,~~have ~~fixed~~used ~~income,~~the ~~currency,~~MAAP ~~metals,~~investment ~~agricultural~~process ~~products~~for ~~and~~over ~~energy~~20 ~~products~~years.

~~AIS~~ ~~believes~~MAAP ~~that~~maintains ~~these six asset classes represent major economic/financial sectors of the global economy and that~~long, ~~historically, the~~short ~~performance~~or ofneutral ~~many~~positions ofin ~~these~~markets ~~asset~~within ~~classes has been non-correlated or negatively correlated to~~ each ~~other.~~of ~~AIS~~the ~~believes~~following ~~that a portfolio combining these~~ six asset classes ~~has~~using ~~the~~futures ~~potential~~contracts, ~~for~~options aon ~~higher~~futures ~~risk-adjusted~~contracts ~~return~~or ~~than~~a ~~would~~combination beof ~~achieved~~both: equities, byfixed aincome, ~~portfolio consisting~~currency, ofmetals, ~~any~~agricultural ~~one~~products ofand ~~these~~energy ~~classes managed individually~~products.

~~MAAP~~ ~~allocates~~AIS ~~approximately~~believes ~~1/6~~that ofthese ~~the portfolio’s potential total contract value (when fully invested) to each of the~~ six asset classes ~~described~~represent ~~above.~~major ~~Approximately 1~~economic/6financial ofsectors ~~the portfolio’s potential value is allocated to each~~ of the ~~following~~global ~~three financial~~economy ~~markets:~~and ~~equities~~that, ~~represented~~historically, bythe ~~positions~~performance inof ~~the~~many ~~S&P~~of ~~500~~these ~~futures~~asset ~~contract~~classes ~~and~~has ~~the~~been ~~Japanese~~non-correlated ~~Nikkei~~or ~~225;~~negatively ~~fixed~~correlated ~~income, represented~~to byeach Uother.S. AIS ~~Treasury~~believes ~~bond~~that ~~futures;~~a ~~and~~portfolio ~~currencies,~~combining ~~represented~~these bysix ~~Japanese~~asset ~~yen,~~classes ~~British~~has ~~pound,~~the ~~Swiss~~potential ~~franc,~~for ~~Canadian~~a ~~dollar, Australian~~higher ~~dollar,~~risk-adjusted ~~Mexican~~return ~~peso~~than ~~and~~would ~~euro~~be ~~currency~~achieved ~~futures.~~by ~~Other~~a ~~markets~~portfolio ~~may~~consisting beof ~~added~~any inone ~~the~~of ~~future~~these atclasses ~~AIS’~~managed ~~discretion~~individually.

~~Within~~ ~~each~~MAAP ofallocates ~~the~~approximately ~~three physical commodity asset classes, while still allocating~~ 1/6 toof ~~each~~the ~~asset~~portfolio’s ~~class,~~potential ~~AIS~~total ~~trades~~contract ~~several~~value ~~markets that~~(when atfully ~~times~~invested) ~~have~~to aeach ~~high~~of ~~degree~~the ofsix ~~correlation.~~asset ~~Within~~classes ~~the~~described above. Approximately 1/6 ~~“agricultural~~of ~~products” allocation, soybean futures generally represent~~ the ~~largest~~portfolio’s potential ~~position,~~value ~~but~~is ~~the~~allocated ~~portfolio~~to ~~also~~each ~~may~~of ~~include~~the ~~positions~~following inthree ~~corn,~~financial ~~wheat~~markets: equities, ~~soybean~~represented ~~oil~~by ~~and soybean~~positions ~~meal~~in ~~futures. Within~~ the ~~1/6~~S&P ~~“metals”~~500 ~~allocation, gold~~ futures ~~generally~~contract ~~represent~~and the ~~largest~~Japanese ~~potential~~Nikkei ~~position, but~~225; ~~the~~fixed ~~portfolio~~income, ~~also~~represented ~~may~~by ~~include~~U.S. ~~positions~~Treasury inbond ~~silver~~futures; and ~~copper~~currencies, ~~futures.~~represented ~~Within~~by ~~the~~Japanese ~~1/6~~yen, ~~“energy~~British ~~products” allocation~~pound, ~~crude~~ ~~oil~~Swiss ~~futures~~franc, ~~generally~~Canadian ~~represent the largest potential position~~dollar, ~~but~~Australian ~~the portfolio also may include positions in heating oil~~dollar, ~~unleaded~~ ~~gasoline~~Mexican peso and ~~natural~~euro ~~gas~~currency futures. Other ~~When~~markets ~~the~~may ~~portfolio~~be isadded ~~fully~~in ~~invested,~~ the ~~relative~~future ~~weight~~at ofAIS’ ~~each contract position within the asset class is influenced by the relative liquidity and perceived profit potential of each contract traded~~discretion.

~~The~~ ~~profitability~~Within each of ~~MAAP~~the ~~depends~~three ~~upon~~physical ~~the~~commodity ~~occurrence~~asset classes, while still allocating 1/6 to each asset class, AIS trades several markets that at times have a high degree of ~~major~~correlation. Within ~~price~~the ~~moves~~1/6 “agricultural products” allocation, orsoybean ~~trends~~futures generally represent the largest potential position, but the portfolio also may include positions in corn, wheat, soybean oil and soybean meal futures. Within the 1/6 “metals” allocation, gold futures ~~contracts~~generally ~~traded~~represent the largest potential position, but the portfolio also may include positions in silver and copper futures. Within ~~However~~the 1/6 “energy products” allocation, ~~there is~~crude nooil ~~guarantee~~futures ~~that~~generally ~~there~~represent ~~will~~the ~~actually~~largest bepotential ~~such~~position, ~~trends~~but the portfolio also may include positions in heating oil, unleaded gasoline and natural gas futures. When the ~~future~~portfolio oris ~~that~~fully ~~AIS~~invested, ~~will~~the berelative ~~able~~weight toof ~~identify~~each orcontract ~~properly~~position ~~capitalize on~~within ~~future~~the ~~price~~asset ~~trends~~class is influenced by the relative liquidity and perceived profit potential of each contract traded.

~~The~~ ~~MAAP~~The ~~investment~~profitability ~~process begins with an analysis~~ of ~~the~~MAAP ~~global~~depends ~~macro~~upon ~~economic conditions that could impact~~ the ~~environment~~occurrence ~~for~~of ~~the six~~major ~~sectors~~price ~~traded. AIS believes that global economic growth rates~~moves, ~~inflation~~or trends, ~~government policies, currency and interest rate trends, and demographic factors all interact to impact price trends~~ in the ~~various~~futures ~~markets~~contracts traded. ~~In addition to global macro trends~~ However, ~~analysis~~there ~~of specific supply and demand trends within each of the three commodity sectors~~ is ~~conducted~~no onguarantee anthat ~~ongoing~~there ~~basis. Finally,~~will ~~AIS~~actually ~~analyzes~~be ~~the~~such ~~potential of supply demand conditions and price~~ trends in ~~one sector to impact prices in other sectors. Using their analysis of fundamental conditions,~~ the ~~trading~~future ~~principals~~or ~~then~~that ~~look~~AIS towill ~~their~~be ~~quantitative~~able ~~research and utilize technical analysis~~ to ~~help~~identify ~~with the timing of trades and the determination of the size of new~~ or ~~adjusted~~properly ~~positions.~~capitalize ~~The~~on ~~trading~~future ~~principals believe~~price ~~that combining both fundamental and quantitative analysis creates a more in-depth understanding of market dynamics~~trends.

	2

~~AIS~~ ~~exercises~~The ~~discretion~~MAAP ~~with~~investment ~~respect~~process tobegins ~~the~~with ~~timing~~an analysis of ~~entering~~the ~~into~~global ~~new~~macro ~~positions~~economic ~~when~~conditions ~~additional~~that ~~funds~~could ~~are~~impact ~~added,~~the ~~and~~environment for the ~~timing of~~six ~~closing~~sectors ~~out~~traded. AIS ~~existing~~believes ~~positions~~that ~~when~~global ~~there~~economic ~~are~~growth ~~withdrawals~~rates, ~~but~~inflation ~~this~~trends, ~~usually~~government ~~occurs~~policies, oncurrency ~~the first~~ and ~~last~~interest ~~business~~rate ~~days~~trends, ofand ~~each month.~~demographic ~~When~~factors ~~MAAP’s~~all ~~position~~interact ~~weighting~~to ~~parameters~~impact ~~signal~~price ~~that~~trends in the ~~number~~various ofmarkets ~~positions~~traded. In inaddition ato ~~futures~~global ~~contract~~macro ~~should~~trends, beanalysis ~~increased or~~of ~~decreased~~specific ~~due~~supply toand ~~overall~~demand ~~portfolio~~trends ~~gains~~within oreach ~~due~~of tothe athree ~~need~~commodity tosectors ~~rebalance,~~is ~~AIS~~conducted ~~may~~on ~~wait~~an ~~for~~ongoing ~~corrections~~basis. Finally, orAIS ~~advances~~analyzes ~~prior to adjusting~~ the ~~number~~potential of ~~contracts~~supply ~~held~~demand inconditions aand ~~particular~~price ~~asset’s~~trends ~~position.~~in ~~During~~one ~~these~~sector ~~periods,~~to ~~the~~impact ~~Partnership’s~~prices ~~leverage~~in ~~may substantially~~other ~~exceed~~sectors. Using ortheir ~~fall~~analysis ~~short~~ of ~~what~~fundamental itconditions, ~~would~~the betrading ifprincipals athen ~~new~~look ~~position~~to ~~were~~their ~~initiated~~quantitative ~~immediately~~research ~~upon~~and ~~additions~~utilize technical analysis to orhelp ~~withdrawals from~~with the ~~Partnership.~~timing Ifof ~~AIS~~trades ~~believes~~and the ~~markets~~determination ~~are~~of ~~subject~~the tosize ~~unusual~~of ~~risk,~~new ~~possible~~or ~~government~~adjusted ~~intervention~~positions. The ortrading ~~temporary~~principals ~~illiquidity, it~~believe ~~may~~that ~~temporarily~~combining ~~reduce~~both ~~overall~~fundamental ~~portfolio~~and ~~leverage~~quantitative oranalysis ~~leverage~~creates a more in-depth aunderstanding ~~particular~~of market dynamics.

~~Although~~ AIS ~~generally~~exercises ~~takes~~discretion ~~positions~~with inrespect to the ~~most~~timing ~~liquid,~~of ~~front~~entering ~~month~~into ~~futures~~new ~~contract~~positions when additional funds are added, itand ~~also~~the ~~analyzes~~timing ~~spread~~of ~~relationships~~closing inout ~~order to~~existing ~~take~~positions ~~advantage~~when ofthere ~~opportunities~~are ~~between~~withdrawals, ~~front~~but ~~month~~this ~~futures~~usually ~~contracts~~occurs on the first and ~~forward~~last business days of each month. When ~~futures~~MAAP’s ~~contracts~~position ~~and~~weighting ~~may~~parameters atsignal ~~times~~that ~~utilize forward~~the ~~month~~number of positions in a futures. ~~AIS~~contract ~~believes~~should ~~this~~be ~~flexibility~~increased ~~periodically~~or ~~offers~~decreased ~~opportunities~~due to ~~reduce~~overall portfolio ~~risk~~gains or ~~increase~~due ~~portfolio return.~~to a need to rebalance, AIS may ~~also~~wait ~~buy~~for corrections or ~~sell~~advances ~~options~~prior onto ~~futures~~adjusting atthe ~~its~~number ~~discretion~~of contracts held in ana ~~effort~~particular toasset’s ~~reduce~~position. During ~~portfolio~~these ~~risk~~periods, the Partnership’s leverage may substantially exceed or tofall ~~allow~~short of what it would be if a ~~managed account~~new position were initiated immediately upon additions to ~~enter~~or withdrawals from the Partnership. If AIS believes the markets are subject to unusual risk, possible government intervention or ~~exit~~temporary ~~positions~~illiquidity, atit ~~certain~~may ~~prices~~temporarily ~~and~~reduce ~~times~~overall portfolio leverage or leverage in a particular market.

Although AIS ~~can~~ generally ~~apply MAAP~~takes ~~with~~positions ~~different~~in ~~degrees~~the ofmost ~~leverage~~liquid, ~~based~~front onmonth afutures ~~client’s~~contract, ~~risk/reward~~it ~~parameters,~~also ~~ranging~~analyzes ~~from~~spread norelationships ~~additional~~in ~~leverage~~order to ~~four~~ ~~times~~take ~~leverage.~~advantage ~~With~~of ~~respect~~opportunities tobetween ~~the~~front ~~Partnership,~~month ~~AIS~~futures ~~generally~~contracts ~~maintains,~~and ~~except~~forward ~~for~~month ~~temporary~~futures ~~deviations~~contracts ~~from~~and ~~time~~may toat ~~time (as~~times ~~described~~utilize ~~herein)~~forward ormonth iffutures. AIS ~~the~~believes ~~prices~~this offlexibility ~~the~~periodically ~~futures~~offers ~~contracts~~opportunities ~~entered~~to ~~into~~reduce atportfolio ~~the~~risk ~~onset~~or ofincrease aportfolio ~~new~~return. AIS ~~position~~may ~~change~~also ~~substantially, leverage~~buy ator asell ~~level~~options ~~not~~on ~~materially~~futures ~~greater~~at ~~than~~its ~~four~~discretion ~~times~~in ~~the~~an ~~Partnership’s~~effort ~~Net~~to ~~Assets.~~reduce ~~However,~~portfolio ~~depending~~risk onor ~~AIS’ discretionary~~to ~~assessment,~~allow ~~leverage~~a ~~may~~managed beaccount ~~significantly~~to ~~less~~enter ~~than~~or ~~four~~exit ~~times~~positions ~~the~~at ~~Partnership’s~~certain ~~Net~~prices ~~Assets~~and times.

~~AIS~~ ~~continues~~AIS ancan ~~active~~generally ~~research~~apply ~~program~~MAAP ~~designed~~with todifferent ~~improve~~degrees ~~investment~~of ~~returns~~leverage ~~and~~based ~~reduce~~on ~~portfolio~~a client’s risk./reward ~~Such~~parameters, ~~research~~ranging ~~may~~from ~~lead~~no additional leverage to four times leverage. With respect to the ~~introduction~~Partnership, ofAIS ~~trading~~generally ~~models~~maintains, inexcept ~~individual~~for ~~markets~~temporary ~~and~~deviations from time to ~~more~~time ~~extensive~~(as ~~use~~described ofherein) ~~options~~or onif the prices of the futures contracts. ~~AIS’ research~~entered ininto at the ~~use~~onset of ~~options~~a onnew ~~futures~~position ischange ~~primarily~~substantially, ~~but~~leverage at a level not ~~solely~~materially greater than four times the Partnership’s Net Assets. However, ~~intended~~depending toon ~~seek~~AIS’ ~~ways~~discretionary toassessment, ~~further~~leverage ~~reduce~~may ~~portfolio~~be ~~volatility~~significantly less than four times the Partnership’s Net Assets.

~~AIS’~~ ~~basic risk management decision-making is discretionary, using both fundamental and technical/quantitative information, however, beginning in mid-2009,~~ AIS ~~overlays~~continues ~~these~~an ~~decisions~~active ~~with~~research aprogram ~~systematic~~designed ~~process~~ to ~~determine~~improve ~~maximum~~investment ~~long~~returns ~~leverage~~and inreduce ~~the~~portfolio ~~commodity sectors~~risk. Such ~~The~~research ~~physical~~may ~~commodity~~lead ~~risk overlay assigns positive or negative points~~ to ~~each of~~ the ~~twelve~~introduction ~~commodity markets traded within the three physical commodity asset classes~~ of ~~MAAP.~~trading ~~These~~models ~~twelve~~in individual markets ~~include: gold, silver, copper, crude oil, RBOB (unleaded gasoline), heating oil, natural gas, corn, wheat, soybeans, soybean meal~~ and ~~soybean~~to ~~oil.~~more Aextensive ~~composite~~use ~~point~~of ~~level~~options ~~is then~~on ~~computed~~futures ~~for the twelve commodity markets~~contracts. AIS’ Ifresearch ~~the~~in ~~composite reading for~~ the ~~twelve~~use ~~markets~~of ~~drops~~options ~~below~~on ~~the~~futures ~~predetermined~~is ~~minimum level~~primarily, ~~leverage~~but ~~must~~not besolely, ~~reduced~~intended to aseek ~~maximum~~ways ofto 50further ~~percent~~reduce ~~of potential leverage on the long side for MAAP’s commodity positions. Leverage on commodity long positions can only be brought back above 50 percent of maximum when the~~ portfolio ~~point system rises to a predetermined positive level~~volatility.

~~The~~ ~~physical~~AIS’ ~~commodities~~basic risk ~~overlay~~management decision-making is ~~designed~~discretionary, tousing beboth ~~long-term~~fundamental and technical/quantitative information. However, AIS overlays these decisions with ~~infrequent~~a ~~signals.~~systematic process to determine maximum long leverage in the commodity sectors. The physical commodity risk overlay isassigns ~~not~~positive ~~without~~or ~~its~~negative ~~limitations and~~points isto ~~intended~~each toof ~~reduce~~the twelve commodity markets traded within the three physical commodity asset classes of MAAP. These twelve markets include: gold, ~~rather~~silver, ~~than~~copper, ~~eliminate~~crude oil, ~~discretion~~RBOB in(unleaded ~~making~~gasoline), ~~risk~~heating ~~management~~oil, ~~decisions.~~natural ~~However~~gas, corn, wheat, soybeans, soybean meal and soybean oil. A composite point level is then computed for the ~~long-term~~twelve ~~nature of~~commodity markets. If the ~~approach~~composite ~~may~~reading ~~avoid~~for the ~~problem~~twelve ofmarkets ~~frequent~~drops ~~whipsaws~~below the predetermined minimum level, leverage must be reduced to ~~which~~a ~~many~~maximum ~~systematic~~of ~~traders~~50 ~~are~~percent ~~subject,~~of ~~although~~potential ~~there~~leverage ~~can~~on ~~be no~~the ~~assurance~~long ~~that~~side ~~this~~for ~~approach~~MAAP’s ~~will~~commodity bepositions. Leverage ~~successful~~on incommodity ~~doing~~long sopositions orcan ~~not~~only ~~result~~be inbrought ~~reduced~~back ~~returns~~above ~~for~~50 percent of maximum when the ~~Partnership~~portfolio point system rises to a predetermined positive level.

~~Regulation~~ The physical commodities risk overlay is designed to be long-term, with infrequent signals. The risk overlay is not without its limitations and is intended to reduce, rather than eliminate, discretion in making risk management decisions. However, the long-term nature of the approach may avoid the problem of frequent whipsaws to which many systematic traders are subject, although there can be no assurance that this approach will be successful in doing so or not result in reduced returns for the Partnership.

Under the Commodity Exchange Act, as amended (the “CEA”), commodity exchanges and futures trading are subject to regulation by the CFTC. NFA, a “registered futures association” under the CEA, is the only non-exchange self-regulatory organization for futures industry professionals. The CFTC has delegated to NFA responsibility for the registration of “commodity trading advisors,” “commodity pool operators,” “futures commission merchants,” “introducing brokers” and their respective associated persons and “floor brokers” and “floor traders.” The CEA requires commodity pool operators and commodity trading advisors, such as the General Partner, and commodity brokers or futures commission merchants, such as the Commodity Brokers to be registered and to comply with various reporting and record keeping requirements. The CFTC may suspend a commodity pool operator’s or commodity trading advisor’s registration if it finds that its trading practices tend to disrupt orderly market conditions or in certain other situations. In the event that the registration of the General Partner as a commodity pool operator or a commodity trading advisor were terminated or suspended, the General Partner would be unable to continue to manage the business of the Partnership. Should the General Partner’s registration be suspended, termination of the Partnership might result.3

3 Regulation

In Under ~~addition~~the toCommodity ~~such registration~~Exchange ~~requirements~~Act, ~~the~~as ~~CFTC~~amended ~~and~~(the ~~certain~~“CEA”), commodity exchanges ~~have~~and ~~established~~futures ~~limits~~trading onare subject to regulation by the ~~maximum~~CFTC. NFA, ~~net~~a ~~long~~“registered orfutures ~~net~~association” ~~short position~~under ~~which~~the ~~any~~CEA, ~~person~~is ~~may~~the ~~hold~~only ornon-exchange ~~control~~self-regulatory inorganization ~~particular~~for ~~commodities~~futures industry professionals. ~~Most~~The ~~exchanges~~CFTC ~~also~~has ~~limit~~delegated ~~the~~to ~~changes~~NFA inresponsibility ~~futures contract~~for ~~prices~~the ~~that~~registration ~~may~~of ~~occur~~“commodity ~~during~~trading aadvisors,” ~~single~~“commodity ~~trading~~pool ~~day.~~operators,” In“futures ~~October~~commission ~~2011~~merchants,” ~~the~~“introducing ~~CFTC~~brokers” ~~adopted~~and atheir ~~separate~~respective ~~position~~associated ~~limits~~persons ~~regime for~~and 28“floor ~~so-called~~brokers” and “~~exempt”~~floor (itraders.~~e.,~~” The ~~metals~~CEA ~~and~~requires ~~energy)~~commodity pool operators and ~~agricultural~~commodity ~~futures~~trading ~~and~~advisors, ~~options~~such ~~contracts~~as ~~and~~the ~~their economically~~General ~~equivalent~~Partner, ~~swap~~and ~~contracts.~~commodity Onbrokers ~~September~~or ~~28,~~futures ~~2012~~commission merchants, such as the ~~United~~Commodity ~~States~~Brokers ~~District~~to ~~Court~~be ~~for~~registered ~~the~~and ~~District~~to ofcomply ~~Columbia~~with ~~vacated these~~various ~~rules.~~reporting and record keeping requirements. The CFTC ~~has~~may ~~appealed~~suspend a commodity pool operator’s or commodity trading advisor’s registration if it finds that ~~ruling,~~its ~~and~~trading ~~there~~practices istend ~~considerable~~to ~~uncertainty~~disrupt ~~about~~orderly market conditions or in certain other situations. In the ~~outcome~~event that the registration of ~~that~~the ~~appeal~~General ~~and~~Partner ~~whether~~ as a commodity pool operator or a commodity trading advisor were terminated or suspended, the ~~CFTC~~General ~~will~~Partner ~~publish~~would ~~future~~be ~~rulemakings~~unable ~~addressing~~to ~~“exempt”~~continue ~~futures~~to ~~and~~manage ~~options~~the ~~contracts~~business ~~and~~of ~~their~~the ~~economically~~Partnership. Should ~~equivalent swap~~the ~~contracts~~General Partner’s registration be suspended, termination of the Partnership might result.

~~Items~~ In ~~101~~addition to such registration requirements, the CFTC and certain commodity exchanges have established limits on the maximum net long or net short position which any person may hold or control in particular commodities. Most exchanges also limit the changes in futures contract prices that may occur during a single trading day. In October 2011, the CFTC adopted a separate position limits regime for 28 so-called “exempt” (~~c)(~~i.e., metals and energy) ~~through (xii)~~ and agricultural futures and options contracts and their economically equivalent swap contracts. On September 28, 2012, the United States District Court for the District of ~~Regulation~~Columbia ~~S-K~~vacated these rules. On November 5, 2013, the CFTC proposed a new set of speculative position rules which are not ~~applicable~~yet finalized (or effective).

~~The~~ Items ~~Partnership~~101(c)(i) through ~~has no~~(xii) ~~employees~~of Regulation S-K are not applicable.

~~(d)~~ The Partnership ~~Assets~~has ~~and~~no ~~Cash Management Income~~employees.

(id) Partnership Assets and ~~Custody~~Cash ~~of Assets~~Management Income

~~The Partnership’s~~ ~~assets are not used to “purchase” any futures positions, but rather as good faith deposits to secure the~~ (i) Partnership~~’s obligations~~ ~~under~~Assets ~~the positions which it holds. The Partnership’s margin commitments on its futures positions generally range between 10%~~ and ~~35%~~Custody of ~~net assets.~~Assets

~~Due to the high degree~~ ofThe ~~leverage~~Partnership’s ~~available~~assets inare ~~the~~not ~~futures~~used ~~markets (the margin deposits required~~ to ~~initiate~~“purchase” ~~individual~~any futures positions, ~~typically~~but ~~range from~~rather as ~~little~~good asfaith 2%deposits up to nosecure ~~more~~the ~~than~~Partnership’s ~~approximately~~obligations ~~25%~~under ofthe ~~contract~~positions ~~value,~~which ~~and~~it ~~maintenance~~holds. The ~~margins~~Partnership’s ~~tend~~margin tocommitments beon ~~significantly~~its ~~lower), the Partnership ordinarily holds~~ futures positions ~~with~~generally arange ~~gross value ranging~~ between ~~two~~10% ~~times~~ and ~~four~~35% ~~times~~of ~~its~~ net ~~asset value, but may hold positions with a gross value outside this range from time to time~~assets.

~~The~~ Due ~~Partnership~~to ~~does not~~the ~~and~~high ~~will~~degree ~~not:~~of ~~(1)~~leverage ~~invest~~available in ~~any~~the ~~equity~~futures ~~security,~~markets (2)the ~~make~~margin ~~loans~~deposits required to ~~any~~initiate ~~person~~individual orfutures ~~entity~~positions ~~(other~~typically ~~than~~range byfrom ~~the~~as ~~purchase~~little as 2% up to no more than approximately 25% of ~~U.S. Treasury~~contract ~~instruments)~~value, orand (3maintenance margins tend to be significantly lower), ~~commingle~~the Partnership ordinarily holds futures positions with a gross value ranging between two times and four times its ~~property~~net asset value, but may hold positions with ~~the~~a ~~property~~gross ofvalue ~~any~~outside ~~other~~this ~~person~~range orfrom ~~entity~~time to time.

The Partnership does not and will not: (ii1) ~~Interest~~ ~~Income~~invest in any equity security, (2) make loans to any person or entity (other than by the purchase of U.S. Treasury instruments) or (3) commingle its property with the property of any other person or entity.

~~Substantially all of~~ ~~the proceeds from the sale of Interests are deposited in the Partnership’s accounts with the Commodity Brokers and Wells Fargo Bank, N.A. in Greenwich, Connecticut~~ (~~“Wells Fargo”~~ii) Interest and are held in cash or in U.S. Treasury bills in accordance with CFTC regulations and are available to support the Partnership’s trading. Approximately 30% to 60% of the Partnership’s assets is expected to be held in the Partnership’s name at Wells Fargo, although the actual percentage may be greater than or less than the expected range at any time. The balance of the Partnership’s assets will be held in segregated or secured amount accounts at the Commodity Brokers. Notwithstanding the foregoing, the Partnership may, in the General Partner’s sole discretion, hold all or substantially all of its assets with the Commodity Brokers, although it does not currently expect to do so. All interest income earned on the Partnership’s assets, in accounts with both the Commodity Brokers and Wells Fargo, accrues to the benefit of the Partnership.Income

~~AIS~~ Substantially ~~may~~all ~~trade~~of ~~foreign futures~~the ~~contracts~~proceeds onfrom ~~behalf~~the sale of Interests are deposited in the Partnership.’s Inaccounts ~~connection~~ with ~~such~~the ~~trading~~Commodity Brokers and Wells Fargo Bank, ~~certain~~N.A. ~~Partnership~~in ~~funds~~Greenwich, ~~may~~Connecticut be(“Wells ~~kept~~Fargo”) onand ~~deposit in~~are ~~accounts~~held ~~inside~~in cash or ~~outside~~in ~~the~~U.S. ~~United~~Treasury ~~States~~bills in accordance with ~~entities~~CFTC ~~eligible~~regulations and are available to ~~act~~support asthe ~~depositories~~Partnership’s ~~under~~trading. Approximately 30% to 60% of the ~~CFTC~~Partnership’s ~~regulations~~assets ~~governing foreign~~is ~~futures~~expected ~~trading.~~to ~~The~~be ~~Commodity~~held ~~Brokers~~in ~~obtain~~the ~~from~~Partnership’s ~~each~~name ~~such~~at ~~depository~~Wells anFargo, ~~acknowledgment~~although ~~that~~the ~~such~~actual ~~funds~~percentage ~~are~~may ~~held~~be ongreater ~~behalf of~~than ~~foreign~~or ~~futures~~less ~~customers~~than ~~and~~the ~~are~~expected ~~being~~range at any time. The balance of the Partnership’s assets will be held in ~~accordance~~segregated ~~with~~or ~~applicable~~secured ~~CFTC~~amount ~~regulations~~accounts at the Commodity Brokers. Notwithstanding ~~The~~the ~~interest~~foregoing, ifthe ~~any~~Partnership may, ~~earned~~in by the ~~Partnership~~General onPartner’s ~~such~~sole ~~funds~~discretion, ~~varies~~hold ~~depending~~all ~~upon~~or substantially all of its assets with the ~~specific~~Commodity ~~foreign~~Brokers, ~~futures~~although ~~contracts~~it ~~traded~~does not currently expect to do so. All interest income earned on ~~behalf~~the Partnership’s assets, in accounts with both the Commodity Brokers and Wells Fargo, accrues to the benefit of the Partnership.

	4

~~(e)~~ AIS ~~Charges~~may trade foreign futures contracts on behalf of the Partnership. In connection with such trading, certain Partnership funds may be kept on deposit in accounts inside or outside the United States with entities eligible to act as depositories under the CFTC regulations governing foreign futures trading. The Commodity Brokers obtain from each such depository an acknowledgment that such funds are held on behalf of foreign futures customers and are being held in accordance with applicable CFTC regulations. The interest, if any, earned by the Partnership on such funds varies depending upon the specific foreign futures contracts traded on behalf of the Partnership.

Recipient	Nature of Payment	Amount of Payment
Various service providers	Administrative expenses	The Partnership pays its routine legal, accounting and filing fees, operating expenses and other administrative costs as incurred. These costs are currently estimated at between $200,000 and $250,000 per year, although they may exceed this level. The Partnership will pay any taxes or extraordinary expenses applicable to it, but these are not expected to be material.
General Partner	Profit Share	The General Partner receives an annual Profit Share equal to 20% of any New Trading Profit realized on Series A Interests payable at the end of each calendar year. New Trading Profit is calculated on a “high water mark” basis with respect to each Limited Partner so that a Limited Partner is charged a Profit Share only on the amount of trading profits allocated to such Limited Partner that exceed the previous high point in trading profit allocated to such Limited Partner since a Profit Share was last charged. Because Limited Partners purchase Interests at different times, they may recognize different amounts of New Trading Profit.
General Partner	Management Fee	Series A Interests pay the General Partner a monthly Management Fee equal to 1/12 of 2% of month-end Net Assets (a 2% annual rate).
The Commodity Brokers and other executing brokers	Brokerage Commissions	The Partnership pays to the Commodity Brokers brokerage commissions and certain other trading expenses incurred in connection with the Partnership’s futures trading. The Partnership pays to the Commodity Brokers up to $8 per “round turn” trade, which includes all exchange, clearing, give up and NFA fees. If the Partnership uses an executing broker other than the Commodity Brokers it pays up to $1.50 for trade execution. The Partnership is charged half of these round-turn rates on each purchase and sale of futures options. When an option is exercised and a futures position is acquired, the full round-turn rate is charged on that position. There is no charge when an option expires. The General Partner estimates that the annual brokerage commission expenses will, in the aggregate, range from 0.10% to 1.20% of the Partnership’s average month-end Net Assets, but such expenses may exceed this estimate under certain circumstances. If the Partnership engages in forward trading, the Partnership would typically be charged a bid/ask spread which is embedded in the price quoted by the forward contract counterparty and is thus unquantifiable.
Selling Agents	Selling Agent Administrative and Service Fee	Series A Interests purchased by Limited Partners that were solicited by selling agents (collectively, the “Selling Agents”) will pay to the respective Selling Agent a Selling Agent Administrative and Service Fee (the “Service Fee”) equal to 1/12 of 2.5% (a 2.5% annual rate) of the month-end Net Asset Value of the Series A Interests sold by them which remain outstanding as of each month-end. The Selling Agent may pass on a portion of such Service Fees to its investment executives. The General Partner may also pay a portion of its Management Fee to the Selling Agents as additional sales compensation in respect of the Interests sold by the Selling Agents.
Various Selling Agents	Upfront selling commissions	A selling commission of up to 2% of the subscription amount may be deducted from the subscription proceeds and paid to the applicable Selling Agent, if any.

(e) Charges

Recipient	Nature of Payment	Amount of Payment

Various service providers	Administrative expenses	The Partnership pays its routine legal, accounting and filing fees, operating expenses and other administrative costs as incurred. These costs are currently estimated at between $200,000 and $250,000 per year, although they may exceed this level. The Partnership will pay any taxes or extraordinary expenses applicable to it, but these are not expected to be material.
General Partner	Profit Share	The General Partner receives an annual Profit Share equal to 20% of any New Trading Profit realized on Series A and Series C Interests payable at the end of each calendar year. New Trading Profit is calculated on a “high water mark” basis with respect to each Limited Partner so that a Limited Partner is charged a Profit Share only on the amount of trading profits allocated to such Limited Partner that exceed the previous high point in trading profit allocated to such Limited Partner since a Profit Share was last charged. Because Limited Partners purchase Interests at different times, they may recognize different amounts of New Trading Profit.
General Partner	Management Fee	Series A Interests pay the General Partner a monthly Management Fee equal to 1/12 of 2% of month-end Net Assets (a 2% annual rate). Series C Interests pay the General Partner a monthly Management Fee equal to 1/12 of 2.7% of month-end Net Assets (a 2.7% annual rate).
The Commodity Brokers and other executing brokers	Brokerage Commissions	The Partnership pays to the Commodity Brokers brokerage commissions and certain other trading expenses incurred in connection with the Partnership’s futures trading. The Partnership pays to the Commodity Brokers up to $8 per “round turn” trade, which includes all exchange, clearing, give up and NFA fees. If the Partnership uses an executing broker other than the Commodity Brokers it pays up to $1.50 for trade execution. The Partnership is charged half of these round-turn rates on each purchase and sale of futures options. When an option is exercised and a futures position is acquired, the full round-turn rate is charged on that position. There is no charge when an option expires. The General Partner estimates that the annual brokerage commission expenses will, in the aggregate, range from 0.10% to 1.20% of the Partnership’s average month-end Net Assets, but such expenses may exceed this estimate under certain circumstances. If the Partnership engages in forward trading, the Partnership would typically be charged a bid/ask spread which is embedded in the price quoted by the forward contract counterparty and is thus unquantifiable.

Series B Interests, which are available only to the General Partner, its principals and employees, pay no Management Fee, Selling Agent Administrative and Service Fee or Profit Share, although they pay brokerage commissions and all other Partnership expenses and are otherwise identical to Series A Interests.5

Item 1A: RISK FACTORS

Recipient	Nature of Payment	Amount of Payment

Selling Agents	Selling Agent Administrative and Service Fee	Series A Interests purchased by Limited Partners that were solicited by selling agents (collectively, the “Selling Agents”) will pay to the respective Selling Agent a Selling Agent Administrative and Service Fee (the “Service Fee”) equal to 1/12 of 2.5% (a 2.5% annual rate) of the month-end Net Asset Value of the Series A Interests sold by them which remain outstanding as of each month-end. The Selling Agent may pass on a portion of such Service Fees to its investment executives. The General Partner may also pay a portion of its Management Fee to the Selling Agents as additional sales compensation in respect of the Interests sold by the Selling Agents. Series C Interests are not subject to the Service Fee.
Various Selling Agents	Upfront selling commissions	A selling commission of up to 2% of the subscription amount may be deducted from the subscription proceeds and paid to the applicable Selling Agent, if any.

~~The~~ Series B ~~Partnership~~Interests, ~~is a~~which ~~Smaller~~are ~~Reporting~~available ~~Company~~only to the General Partner, asits ~~defined~~principals byand ~~Rule~~employees, ~~229.10(f)(1)~~pay no Management Fee, Selling Agent Administrative and ~~therefore~~Service ~~this~~Fee ~~item~~or isProfit ~~not~~Share, ~~required~~although they pay brokerage commissions and all other Partnership expenses and are otherwise identical to Series A Interests.

Item 1B1A: ~~UNRESOLVED~~RISK ~~STAFF COMMENTS~~FACTORS

~~Not~~ The ~~applicable~~Partnership is a Smaller Reporting Company, as defined by Rule 229.10(f)(1) and therefore this item is not required.

~~Item~~ 2Item 1B: ~~PROPERTIES~~UNRESOLVED STAFF COMMENTS

~~The Partnership does~~ ~~not~~Not ~~own or use any physical properties in the conduct of its business~~applicable. ~~The General Partner performs all administrative services for the Partnership from the General Partner’s offices at 187 Danbury Road, Suite 201, Wilton, Connecticut 06897.~~

The Partnership is does not ~~aware~~own ofor use any ~~pending~~physical ~~legal~~properties ~~proceedings~~in tothe ~~which~~conduct ~~either~~of ~~the~~its ~~Partnership~~business. The isGeneral aPartner ~~party~~performs orall toadministrative ~~which~~services ~~any~~for ofthe ~~its~~Partnership ~~assets~~from ~~are~~the ~~subject. In~~General ~~addition~~Partner’s ~~there~~offices ~~are~~at no187 ~~pending~~Danbury ~~material~~Road, ~~legal~~Suite ~~proceedings~~201, ~~involving~~Wilton, ~~the~~Connecticut ~~General Partner~~06897.

~~Not~~ The ~~applicable~~Partnership is not aware of any pending legal proceedings to which either the Partnership is a party or to which any of its assets are subject. In addition there are no pending material legal proceedings involving the General Partner.

~~PART~~ Not IIapplicable.

~~Item 5: market for registrant’s common equity, related stockholder matters and issuer purchaseS of equity securities~~6

~~(a)~~ PART ~~Market information~~II

(ba) Market ~~Holders~~information

As There ofis ~~February~~no 28trading market for the Interests, ~~2013,~~ ~~there~~and ~~were~~none ~~686~~is ~~holders~~likely ofto develop. Interests may be redeemed or transferred subject to the conditions imposed by the Limited Partnership Agreement.

(cb) ~~Dividends~~ Holders

~~AIS has sole discretion~~ inAs ~~determining~~of ~~what~~February ~~distributions~~28, ~~if any~~2014, ~~the~~there ~~Partnership~~were ~~makes~~555 toholders ~~Limited~~of ~~Partners. To date no distributions or dividends have been paid on the~~ Interests~~, and the General Partner has no present intention to make any~~.

(dc) ~~Securities Authorized for Issuance under Equity Compensation Plans~~ Dividends

~~None~~ AIS has sole discretion in determining what distributions, if any, the Partnership makes to Limited Partners. To date no distributions or dividends have been paid on the Interests, and the General Partner has no present intention to make any.

(ed) ~~Recent Sales of Unregistered~~ Securities; ~~Use~~Authorized offor ~~Proceeds~~Issuance ~~from~~under ~~Registered~~Equity ~~Securities~~Compensation Plans

~~The Partnership did~~ ~~not sell any unregistered securities within the past three years which have not previously been included in the Partnership’s Quarterly Reports on Form 10-Q or in a Current Report on Form 8-K~~None.

(fe) Recent ~~Issuer~~Sales ~~Purchases~~of Unregistered Securities; Use of ~~Equity~~Proceeds from Registered Securities

~~Pursuant to the Limited~~ The Partnership ~~Agreement,~~did ~~Limited~~not ~~Partners~~sell ~~may~~any ~~redeem~~unregistered ~~their~~securities ~~Interests~~within in the ~~Partnership~~past asthree ofyears ~~the~~which ~~last~~have ~~business~~not ~~day~~previously ofbeen ~~each~~included ~~calendar month~~in ~~upon~~the ~~ten days~~Partnership’s ~~written~~Quarterly ~~notice~~Reports toon ~~AIS. The~~Form ~~redemption~~10-Q ofor ~~capital~~in ~~from~~a ~~capital~~Current ~~accounts~~Report ~~by Limited Partners has no impact~~ on ~~the~~Form ~~value of the capital accounts of other Limited Partners~~8-K.

~~The following table~~ ~~summarizes~~(f) Issuer ~~Limited~~Purchases ~~Partner redemptions during the fourth calendar quarter~~ of ~~2012:~~Equity Securities

Month Ended	Amount Redeemed
October 31, 2012	$	846,942
November 30, 2012		485,319
December 31, 2012		70,529
Total	$	1,402,790

Pursuant to the Limited Partnership Agreement, Limited Partners may redeem their Interests in the Partnership as of the last business day of each calendar month upon ten days’ written notice to AIS. The redemption of capital from capital accounts by Limited Partners has no impact on the value of the capital accounts of other Limited Partners.

~~Item~~ 6:The ~~Selected~~following ~~financial~~table ~~data~~summarizes Limited Partner redemptions during the fourth calendar quarter of 2013:

The Partnership is a Smaller Reporting Company, as defined by Rule 229.10(f)(1) and therefore this item is not required.

Month Ended	Amount Redeemed

October 31, 2013	$	492,435.80
November 30, 2013		927,387.51
December 31, 2013		3,818,060.45
Total	$	5,237,883.76

~~Reference is made to~~ ~~“Item~~The 8.Partnership ~~Financial~~is ~~Statements~~a ~~and~~Smaller ~~Supplementary~~Reporting ~~Data.”~~Company, ~~The~~as ~~information~~defined ~~contained~~by ~~therein~~Rule is229.10(f)(1) ~~essential to,~~ and ~~should be~~therefore ~~read~~this initem ~~conjunction~~is ~~with,~~not ~~the following analysis~~required.

~~The Partnership raises~~ ~~additional~~Reference ~~capital~~is ~~only~~made ~~through~~to ~~the~~“Item ~~sale~~8. ofFinancial ~~Interests~~Statements and ~~capital~~Supplementary isData.” The ~~increased~~information ~~through~~contained ~~trading~~therein ~~profits~~is ~~(if~~essential ~~any)~~to, and ~~interest~~should ~~income. The~~be ~~Partnership~~read ~~does~~in ~~not~~conjunction ~~engage~~with, inthe ~~borrowing~~following analysis.

~~The amount of capital~~ ~~raised for the Partnership should not have~~ (a significant impact on its operations, as the Partnership has no significant capital expenditure or working capital requirements other than for monies to pay trading losses, brokerage commissions and expenses.) Capital ~~Within broad ranges of capitalization, the General Partner’s trading positions should increase or decrease in approximate proportion to the size of the Partnership.~~Resources

The Partnership ~~trades futures~~raises ~~contracts~~additional ~~and~~capital ~~options~~only onthrough ~~futures contracts primarily on domestic markets. Risk arises from changes in~~ the ~~value~~sale of ~~these instruments~~Interests ~~(market risk)~~ and ~~the~~capital ~~potential~~is ~~inability~~increased ofthrough ~~counterparties~~trading orprofits ~~brokers to perform under the terms of their contracts~~ (~~credit~~if ~~risk~~any)~~. Market~~ ~~risk is generally to be measured by the face amount of the futures positions acquired~~ and ~~the~~interest ~~volatility of the markets traded~~income. The ~~credit~~Partnership ~~risk~~does ~~from~~not ~~counterparty~~engage non-performance associated with these instruments is the net unrealized gain, if any, on these positions plus the value of the margin or collateral held by the counterparty. The counterparty for futures and options on futures contracts traded in ~~the United States is the clearinghouse associated with the relevant exchange~~borrowing. Clearinghouse arrangements are generally perceived to reduce credit risk because, in general, clearinghouses are backed by the corporate members of the clearinghouses, which are required to share any financial burden resulting from the non-performance of any one of the members of the clearinghouse.

The ~~General~~amount ~~Partner attempts~~of tocapital ~~control~~raised ~~market~~for ~~risk~~the ~~through:~~Partnership ~~(1)~~should ~~real~~not ~~time~~have ~~monitoring~~a ofsignificant ~~open~~impact ~~positions;~~on ~~(2) diversifying~~its ~~positions~~operations, ~~among~~as ~~various markets;~~the ~~(3)~~Partnership ~~moderating~~has ~~position~~no ~~size~~significant incapital ~~each~~expenditure ~~market~~or ~~traded~~working oncapital ~~the~~requirements ~~basis~~other ofthan ~~the~~for ~~trading~~monies ~~signals~~to ~~indicated~~pay bytrading ~~MAAP (that is~~losses, ~~taking a~~brokerage ~~full,~~commissions ~~partial~~and orexpenses. Within nobroad ~~position);~~ranges ~~and~~of ~~(4) limiting~~capitalization, the ~~leverage~~General ~~in the Partnership~~Partner’s ~~portfolio~~trading topositions ~~not~~should ~~more~~increase ~~than~~or ~~approximately four~~decrease ~~times~~in ~~the~~approximate ~~net~~proportion ~~asset~~to ~~value~~the size of the Partnership. ~~The Partnership controls credit risk by dealing exclusively with large, well capitalized financial institutions and futures brokers.~~

The ~~financial~~Partnership trades futures contracts and options on futures contracts primarily on domestic markets. Risk arises from changes in the value of these instruments ~~traded~~ by(market risk) and the ~~Partnership~~potential ~~contain~~inability ~~varying~~of ~~degrees~~counterparties or brokers to perform under the terms of ~~off-balance~~their ~~sheet~~contracts (credit risk). Market ~~whereby~~risk ~~changes~~is ingenerally to be measured by the ~~market~~face ~~values~~amount of the futures ~~underlying~~ positions acquired and the ~~financial~~volatility of the markets traded. The credit risk from counterparty non-performance associated with these instruments oris the ~~Partnership’s~~net ~~satisfaction~~unrealized gain, if any, on these positions plus the value of the ~~obligations~~margin ~~may~~or ~~exceed~~collateral held by the ~~amount~~counterparty. The ~~recognized~~ counterparty for futures and options on futures contracts traded in the ~~statement~~United States is the clearinghouse associated with the relevant exchange. Clearinghouse arrangements are generally perceived to reduce credit risk because, in general, clearinghouses are backed by the corporate members of the clearinghouses, which are required to share any financial ~~condition~~burden resulting from the non-performance of any one of the ~~Partnership~~members of the clearinghouse.

~~Due~~ The General Partner attempts to control market risk through: (1) real time monitoring of open positions; (2) diversifying positions among various markets; (3) moderating position size in each market traded on the ~~nature~~basis of the trading signals indicated by MAAP (that is, taking a full, partial or no position); and (4) limiting the leverage in the Partnership’s ~~business,~~portfolio ~~substantially~~to ~~all~~not ~~its~~more ~~assets~~than ~~are~~approximately ~~represented~~four bytimes ~~cash~~the ~~and~~net ~~United~~asset ~~States~~value ~~government~~of ~~obligations, while~~ the Partnership. The ~~maintains~~Partnership controls ~~its~~credit ~~market~~risk ~~exposure~~by ~~through~~dealing ~~open~~exclusively ~~futures~~with ~~contract~~large, ~~positions~~well capitalized financial institutions and futures brokers.

The ~~Partnership’s futures~~financial ~~contracts~~instruments ~~are~~traded ~~settled~~ by ~~offset~~the ~~and~~Partnership ~~are~~contain ~~cleared~~varying bydegrees ~~the~~of ~~exchange~~off-balance ~~clearinghouse~~sheet ~~function. Open~~risk ~~futures~~whereby ~~positions~~changes ~~are marked~~in tothe market ~~each~~values ~~trading~~of ~~day and~~ the ~~Partnership’s trading accounts are debited or credited accordingly. Options on~~ futures ~~contracts~~underlying ~~are~~the ~~settled~~financial ~~either~~instruments ~~by offset~~ or bythe ~~exercise. If~~Partnership’s ansatisfaction ~~option~~of onthe aobligations ~~future~~may isexceed ~~exercised,~~ the ~~Partnership is~~amount ~~assigned~~recognized ~~a position~~ in the ~~underlying~~statement ~~future~~of ~~which~~financial iscondition ~~then~~of ~~settled~~the ~~by offset~~Partnership.

~~The value of the Partnership’s~~ ~~cash~~Due ~~and~~to ~~financial instruments is not materially affected by inflation. Changes in interest rates, which are often associated with inflation, could cause~~ the ~~value~~nature of ~~certain of~~ the Partnership’s ~~debt securities to decline~~business, ~~but~~substantially ~~only~~all toits aassets ~~limited~~are ~~extent. More~~represented ~~importantly,~~by ~~changes~~cash inand ~~interest~~United ~~rates~~States ~~could~~government ~~cause periods of strong up or down market price trends~~obligations, ~~during~~while ~~which~~ the Partnership~~’s profit~~ ~~potential~~maintains ~~generally~~its ~~increases. However,~~market ~~inflation~~exposure ~~can~~through ~~also~~open ~~give~~futures ~~rise~~contract ~~to markets which have numerous short price trends followed by rapid reversals, markets in which the Partnership is likely to suffer losses~~positions.

~~(b)~~ The ~~Liquidity~~Partnership’s futures contracts are settled by offset and are cleared by the exchange clearinghouse function. Open futures positions are marked to market each trading day and the Partnership’s trading accounts are debited or credited accordingly. Options on futures contracts are settled either by offset or by exercise. If an option on a future is exercised, the Partnership is assigned a position in the underlying future which is then settled by offset.

The value of the Partnership’s ~~assets~~ ~~are~~cash ~~generally~~and ~~held~~financial asinstruments ~~cash~~is ornot ~~cash~~materially ~~equivalents~~affected ~~which~~by ~~are~~inflation. Changes ~~used~~in tointerest ~~margin~~rates, ~~the~~which ~~Partnership’s~~are ~~futures~~often ~~positions~~associated ~~and~~with ~~are withdrawn~~inflation, ascould ~~necessary,~~cause tothe ~~pay~~value ~~redemptions~~of ~~and~~certain ~~expenses. Other~~of ~~than~~the ~~potential~~Partnership’s ~~market-imposed limitations~~debt onsecurities ~~liquidity~~to decline, ~~due,~~ ~~for~~but ~~example,~~only to a limited ~~open~~extent. More ~~interest~~importantly, changes in ~~certain~~interest ~~futures~~rates ~~markets~~could orcause toperiods ~~daily~~of ~~price~~strong ~~fluctuation~~up ~~limits,~~or ~~which~~down ~~are~~market ~~inherent in~~price ~~the~~trends, ~~Partnership’s~~during ~~futures~~which ~~trading,~~ the Partnership’s ~~assets~~profit ~~are~~potential ~~highly~~generally ~~liquid and are expected to remain so~~increases. ~~During~~ However, ~~its~~inflation ~~operations~~can ~~through~~also ~~December~~give ~~31,~~rise ~~2012,~~to ~~the~~markets ~~Partnership~~which ~~experienced~~have nonumerous ~~meaningful~~short ~~periods~~price oftrends ~~illiquidity~~followed inby ~~any~~rapid ofreversals, ~~the~~ markets ~~traded~~in bywhich the ~~General~~Partnership ~~Partner~~is onlikely ~~behalf~~to ofsuffer ~~the Partnership~~losses.

8 (b) Liquidity

~~(c)~~ The ~~Critical~~Partnership’s ~~Accounting~~assets ~~Policies~~are generally held as cash or cash equivalents which are used to margin the Partnership’s futures positions and are withdrawn, as necessary, to pay redemptions and expenses. Other than potential market-imposed limitations on liquidity, due, for example, to limited open interest in certain futures markets or to daily price fluctuation limits, which are inherent in the Partnership’s futures trading, the Partnership’s assets are highly liquid and are expected to remain so. During its operations through December 31, 2013, the Partnership experienced no meaningful periods of illiquidity in any of the markets traded by the General Partner on behalf of the Partnership.

The Partnership records its transactions in futures contracts, including related income and expenses, on a trade date basis. Open futures contracts traded on an exchange are valued at fair value, which is based on the closing settlement price on the exchange where the futures contract is traded by the Partnership on the day with respect to which Net Assets are being determined. 8

~~The Partnership accounts~~ ~~for certain assets and liabilities at fair value under the Financial Accounting Standards Board Accounting Standards Codification~~ (~~the “Codification”~~c) Critical ~~Topic~~Accounting No. 820, Fair Value Measurements (“ASC 820”). ASC 820 defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the quality of inputs used to measure fair value, and enhances disclosure requirements for fair value measurements. In accordance with ASC 820, the Partnership has categorized its financial instruments, based on the priority of inputs to the valuation technique, into a three-level fair value hierarchy. The fair value gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used to measure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement of the instrument. Policies

~~Financial assets and~~ ~~liabilities~~The ~~recorded~~Partnership onrecords ~~the~~its ~~statements~~transactions ofin ~~financial~~futures ~~condition~~contracts, atincluding ~~December~~related ~~31,~~income ~~2012~~ and ~~December 31~~expenses, ~~2011~~on ~~are~~a ~~categorized~~trade asdate ~~Level 1~~basis. Open ~~and~~futures ~~Level~~contracts 2traded ~~based~~ on ~~the~~an ~~inputs~~exchange toare ~~the~~valued ~~valuation~~at ~~techniques. Level 1 denotes~~ fair value, which is based on ~~unadjusted~~the ~~quoted~~closing ~~prices for~~settlement ~~identical~~price ~~assets~~on ~~or liabilities in an active market that~~ the ~~Partnership~~exchange ~~has~~where the ~~ability~~futures tocontract ~~access. Level~~is 2traded ~~denotes~~by ~~fair value~~the isPartnership ~~based~~ on ~~observable~~the ~~inputs~~day ~~other~~with ~~than~~respect ~~quoted~~to ~~market~~which ~~prices~~Net ~~that~~Assets ~~the~~are ~~Partnership~~being ~~has the ability to access~~determined.

A The Partnership accounts for certain assets and liabilities at fair value ~~measurement assumes~~under ~~that~~ the ~~transaction~~Financial toAccounting ~~sell~~Standards ~~the~~Board ~~asset~~Accounting orStandards ~~transfer~~Codification (the ~~liability~~“Codification”) ~~occurs~~Topic inNo. 820, Fair Value Measurements (“ASC 820”). ASC 820 defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the ~~principal~~quality ~~market~~of inputs used to measure fair value, and enhances disclosure requirements for fair value measurements. In accordance with ASC 820, the ~~asset~~Partnership orhas ~~liability or~~categorized its financial instruments, inbased on the ~~absence~~priority of ainputs ~~principal~~to ~~market~~the valuation technique, into a three-level fair value hierarchy. The fair value gives the ~~most~~highest ~~advantageous~~priority ~~market~~to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If Athe inputs used to measure the financial ~~instrument’s~~instruments ~~level~~fall within ~~the~~different ~~fair~~levels ~~value~~ of the hierarchy, the categorization is based on the lowest level ~~of any~~ input that is significant to the fair value measurement of the instrument.

~~The~~ Financial ~~fair~~assets ~~values~~and liabilities recorded on the statements of ~~futures~~ ~~contracts~~financial condition at December 31, 2013 and December 31, 2012 are ~~based~~categorized ~~upon~~as ~~exchange~~Level ~~settlement~~1 ~~prices.~~and ~~The~~Level ~~fair~~2 ~~value~~based ofon Uthe inputs to the valuation techniques.S. Level ~~Government~~1 ~~Securities~~denotes fair value is based on ~~cost~~unadjusted ~~plus accrued~~quoted ~~interest,~~prices ~~which~~for ~~approximates~~identical assets or liabilities in an active market that the Partnership has the ability to access. Level 2 denotes fair value, is based on observable inputs other than quoted market prices that the Partnership has the ability to access.

~~The~~ A ~~Partnership~~fair ~~accounts for~~value ~~subscriptions,~~measurement ~~allocations~~assumes ~~and~~that ~~redemptions~~the ontransaction ato ~~per~~sell ~~partner~~the ~~capital~~asset ~~account~~or ~~basis.~~transfer ~~Income~~the orliability ~~loss,~~occurs ~~prior~~in tothe principal market for the ~~Management Fee~~asset or liability or, ~~Selling~~in ~~Agent~~the ~~Administrative~~absence ~~and~~of ~~Service~~a ~~Fee~~principal ~~and~~market, the ~~General~~most ~~Partner~~advantageous ~~Profit~~market. A ~~Share~~financial ~~allocation,~~instrument’s islevel ~~allocated~~within ~~pro~~the ~~rata to~~fair value hierarchy is based on the ~~capital~~lowest ~~accounts~~level of ~~all~~any ~~partners~~input that is significant to the fair value measurement.

The ~~preparation~~fair ~~of financial~~values ~~statements in conformity with accounting principles generally accepted in the United States~~ of ~~America~~futures ~~requires~~contracts ~~management to~~are ~~make~~based ~~estimates~~upon ~~and~~exchange ~~assumptions,~~settlement ~~such~~prices. The asfair ~~accrual~~value of ~~expenses,~~U.S. ~~that~~Government ~~affect~~Securities ~~the~~is ~~amounts~~based ~~and disclosures reported in the financial statements. Based~~ on ~~the~~cost ~~nature~~plus ofaccrued ~~the business and operations of the Partnership~~interest, ~~the~~which ~~General~~approximates ~~Partner~~fair ~~believes that the estimates utilized in preparing the Partnership’s financial statements are appropriate and reasonable; however~~value, ~~actual~~based ~~results could~~on ~~differ~~quoted ~~from~~market ~~these estimates~~prices.

The ~~estimates~~Partnership ~~used do~~accounts ~~not~~for ~~provide~~subscriptions, aallocations ~~range~~and ofredemptions ~~possible~~on ~~results~~a ~~that~~per ~~would~~partner ~~require~~capital ~~the~~account ~~exercise of subjective judgment~~basis. ~~The~~Income ~~General~~or ~~Partner further believes that~~loss, ~~based~~prior onto the ~~nature~~Management ~~of the business and operations of the Partnership~~Fee, noSelling ~~other~~Agent ~~reasonable~~Administrative ~~assumptions~~and ~~relating to~~Service ~~the~~Fee ~~application~~and of the ~~Partnership’s~~General ~~critical~~Partner ~~accounting~~Profit ~~estimates~~Share ~~other~~allocation, ~~than~~is ~~those~~allocated ~~currently~~pro ~~used~~rata ~~would~~to ~~likely~~the ~~result in~~capital ~~materially~~accounts ~~different~~of ~~amounts~~all ~~from those reported~~partners.

~~(d)~~ The ~~Off-Balance~~preparation ~~Sheet~~of ~~Arrangements~~financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions, such as accrual of expenses, that affect the amounts and disclosures reported in the financial statements. Based on the nature of the business and operations of the Partnership, the General Partner believes that the estimates utilized in preparing the Partnership’s financial statements are appropriate and reasonable; however, actual results could differ from these estimates.

The ~~Partnership~~estimates ~~does~~ used do not ~~engage~~provide ina ~~off-balance~~range ~~sheet~~of ~~arrangements~~possible ~~with~~results that would require the exercise of subjective judgment. The General Partner further believes that, based on the nature of the business and operations of the Partnership, no other ~~entities~~reasonable assumptions relating to the application of the Partnership’s critical accounting estimates other than those currently used would likely result in materially different amounts from those reported.

(ed) Off-Balance ~~Contractual~~Sheet ~~Obligations~~Arrangements

The Partnership ~~is a~~does ~~Smaller~~not ~~Reporting~~engage ~~Company,~~in asoff-balance ~~defined~~sheet byarrangements ~~Rule~~with ~~229.10(f)(1)~~other ~~and therefore this item is not required~~entities.

9 (e) Contractual Obligations

The Partnership is a Smaller Reporting Company, as defined by Rule 229.10(f)(1) ~~Results~~and oftherefore ~~Operations~~this item is not required.

~~Performance Summary~~9

~~The profitability of~~ trend-following trading techniques such as MAAP depends upon the occurrence of major price moves in at least some of the futures contracts traded. The General Partner’s trading methods are confidential, so that the only information that can be furnished regarding the Partnership’s results of operations is its performance record. The Partnership engages in speculative trading and the Partnership may enter into long, short or neutral positions in the markets in which it trades. Because the Partnership’s trading strategies depend heavily on global price trends (~~both positive and negative~~f)~~, and these price trends may be affected by global economic conditions and may at times be seasonal, the Partnership will be affected by such conditions and trends. The past performance~~ Results of the Partnership is not necessarily indicative of future results. The General Partner believes, however, that there are certain market conditions — for example, markets with strong price trends — in which the Partnership has a better opportunity of being profitable than in others. Operations

~~2012~~ Performance Summary

~~During~~ The ~~2012,~~profitability of trend-following trading techniques such as MAAP depends upon the ~~Partnership achieved~~occurrence aof ~~net~~major ~~realized~~price ~~and~~moves ~~unrealized~~in ~~gain~~at least some of ~~$10,321,298~~the ~~from~~futures ~~its~~contracts traded. The General Partner’s trading ~~operations~~methods are confidential, ~~which~~so isthat ~~net~~the ofonly ~~brokerage~~information ~~commissions~~that can be furnished regarding the Partnership’s results of ~~$101,783~~ operations is its performance record. The Partnership ~~incurred~~engages ~~total~~in ~~expenses~~speculative oftrading ~~$3,315,990~~and ~~including~~the $1Partnership may enter into long,~~733,091~~ short or neutral positions in ~~Selling~~the ~~Agent~~markets ~~Administrative~~in which it trades. Because the Partnership’s trading strategies depend heavily on global price trends (both positive and ~~Service~~ ~~Fees~~negative), ~~$1,412,311~~and inthese ~~Management~~price ~~Fees~~trends ~~(paid~~may tobe ~~the~~affected ~~General~~by ~~Partner)~~global economic conditions and ~~$170~~may at times be seasonal,~~588~~ inthe ~~operating~~Partnership ~~expenses~~will be affected by such conditions and trends. The ~~Partnership earned~~past ~~$62,822~~performance inof ~~interest~~the ~~income~~Partnership ~~and~~is ~~allocated~~not anecessarily ~~Profit~~indicative ~~Share~~ of ~~$93,096~~future toresults. The ~~the~~ General Partner~~. An~~ ~~analysis~~believes, ofhowever, ~~trading gains~~that ~~and~~there ~~losses~~are ~~(not~~certain ~~adjusted~~market conditions — for ~~any~~example, ~~fees~~markets orwith ~~expenses)~~strong byprice ~~market~~trends ~~sector~~— isin aswhich ~~follows:~~the Partnership has a better opportunity of being profitable than in others.

Sector	% Gain (Loss)
Stock Index		(0.26	)%
Bonds		0.00	%
Currency		5.38	%
Energy		(2.43	)%
Metals		0.56	%
Grains		14.99	%

2013

~~The~~ During ~~Partnership~~2013, the Partnership experienced a ~~profitable~~net ~~year~~realized inand ~~2012,~~unrealized asloss ~~three~~ of ~~the~~$(15,508,994) ~~six~~from ~~asset~~its ~~classes~~trading ~~potentially~~operations, ~~traded~~which byis ~~the~~net ~~fund~~of ~~produced~~brokerage ~~gains.~~commissions of $83,981. The ~~largest~~Partnership ~~gain~~incurred ~~came from~~total ~~long~~expenses ~~positions~~of in$2,590,809 ~~grains~~including $1,328,963 ~~followed~~in bySelling ~~long~~Agent Administrative and ~~short~~Service ~~positions~~Fees, $1,100,133 in ~~currencies~~Management ~~and~~Fees ~~long~~(paid ~~positions~~to inthe ~~metals.~~General ~~Losses~~Partner) ~~occurred~~ and $161,713 in ~~long~~operating ~~positions~~expenses. The inPartnership ~~the~~earned ~~energy~~$43,953 ~~sector~~in interest income and ~~from~~allocated a ~~long~~Profit ~~put~~Share ~~position~~of in$1,192 to the ~~S&P~~General ~~500~~Partner. An analysis of trading gains and losses (not adjusted for any fees or expenses) by market sector is as follows:

2011

Sector	% Gain (Loss)
Stock Index	(7.24)	%
Bonds	0.79	%
Currency	(1.84)	%
Energy	5.55	%
Metals	(16.00)	%
Grains	(5.34)	%

~~During~~ The ~~2011, the~~ Partnership ~~achieved~~ experienced a ~~net~~loss ~~realized~~for ~~and~~the ~~unrealized~~year ~~loss~~in ~~of $1~~2013,~~623,344~~ ~~from~~as ~~its~~four ~~trading~~of ~~operations,~~the ~~which~~six isasset ~~net~~classes oftraded ~~brokerage~~by ~~commissions~~the ~~of $87,389~~Partnership had losses. The ~~Partnership~~largest ~~incurred~~loss ~~total~~came ~~expenses~~from oflong ~~$4,224,997~~positions ~~including~~in $2metals,~~235,282~~ infollowed ~~Selling~~by ~~Agent~~short ~~Administrative~~positions ~~and Service Fees, $1,796,627~~ in ~~Management Fees (paid to~~ the ~~General~~S&P ~~Partner)~~500, ~~and~~long ~~$193,088~~positions in ~~operating~~grains ~~expenses. The~~and ~~Partnership~~long ~~earned $118,806~~positions in ~~interest~~Australian ~~income~~ and ~~allocated~~Canadian ~~a Profit Share of $425,595 to the General Partner~~dollars. AnGains ~~analysis~~were ofachieved ~~trading~~from ~~gains and~~long ~~losses~~positions ~~(not~~in ~~adjusted~~the ~~for~~energy ~~any~~sector ~~fees~~and orfrom ~~expenses)~~a byshort ~~market~~position ~~sector~~in isthe asU.S. ~~follows:~~Treasury bonds.

Sector	% Gain (Loss)
Stock Index		5.30	%
Bonds		(4.41	)%
Currency		1.50	%
Energy		(0.78	)%
Metals		3.54	%
Grains		(4.59	)%

2012

~~The~~ During 2012, the Partnership ~~experienced~~ achieved a ~~moderate~~net ~~loss~~realized inand ~~2011~~unrealized asgain ~~three~~ of ~~the~~$10,321,298 ~~six~~from ~~asset~~its ~~classes~~trading ~~traded~~operations, ~~generated~~which ~~losses.~~is net of brokerage commissions of $101,783. The ~~largest~~Partnership ~~loss~~incurred ~~came~~total ~~from~~expenses ~~long~~of ~~positions~~$3,315,990 ~~in grains~~including $1,733,091 ~~followed~~in ~~closely~~Selling byAgent ~~short~~Administrative ~~positions~~and Service Fees, $1,412,311 in ~~Treasury~~Management ~~bonds~~Fees ~~and~~(paid to athe ~~lesser~~General ~~extent~~Partner) byand ~~long~~$170,588 ~~positions~~ in ~~energy~~operating expenses. The ~~Long~~Partnership ~~positions in~~earned ~~metals~~$62,822 ~~short~~in ~~positions~~interest inincome ~~stock~~and ~~index~~allocated ~~futures~~a ~~and~~Profit ~~long~~Share ~~positions~~of in$93,096 to the ~~Australian~~General ~~and~~Partner. An ~~Canadian~~analysis ~~dollars~~of ~~produced~~trading gains, ~~partially offsetting~~and losses in(not ~~the~~adjusted ~~other~~for ~~sectors.~~any fees or expenses) by market sector is as follows:

Sector	% Gain (Loss)
Stock Index	(0.26)	%
Bonds	0.00	%
Currency	5.38	%
Energy	(2.43)	%
Metals	0.56	%
Grains	14.99	%

~~Item~~ The 7APartnership experienced a profitable year in 2012, as three of the six asset classes potentially traded by the Partnership produced gains. The ~~QUANTITATIVE~~largest ~~AND~~gain ~~QUALITATIVE~~came ~~DISCLOSURES~~from ~~ABOUT~~long ~~MARKET~~positions ~~RISK~~in grains, followed by long and short positions in currencies and long positions in metals. Losses occurred in long positions in the energy sector and from a long put position in the S&P 500.

~~The Partnership is a Smaller Reporting Company, as defined by Rule 229.~~10~~(f)(1) and therefore this item is not required.~~

~~Item~~ 8:Item ~~financial~~7A. QUANTITATIVE ~~statements~~AND ~~and~~QUALITATIVE ~~supplementary~~DISCLOSURES ~~data~~ABOUT MARKET RISK

~~Financial statements~~ ~~required~~The byPartnership ~~this~~is ~~item~~a ~~are~~Smaller ~~included~~Reporting ~~herewith~~Company, ~~following~~as ~~the~~defined ~~Index~~by toRule ~~Financial~~229.10(f)(1) ~~Statements set forth following the signature page hereof~~ and ~~incorporated~~therefore bythis ~~reference~~item ~~into~~is ~~this~~not ~~Item 8~~required.

~~Item~~ 9:Financial ~~changes~~statements inrequired ~~and~~by ~~disagreements~~this ~~with~~item ~~accountants~~are onincluded ~~accounting~~herewith following the Index to Financial Statements set forth following the signature page hereof and ~~financial~~incorporated ~~disclosure~~by reference into this Item 8.

~~None~~ Because the Partnership is a Smaller Reporting Company, as defined by Rule 229.10(f)(1), the supplementary financial information required by Item 302 of Regulation S-K is not required.

~~(a) Disclosure Controls and Procedures~~ None.

~~AIS, the general partner~~ ~~and~~Item trading advisor of the Partnership, with the participation of AIS’ President and Vice President, has evaluated the effectiveness of the design and operation of its disclosure controls and procedures with respect to the Partnership as of the end of the period covered by this annual report, and, based on their evaluation, has concluded that these disclosure controls and procedures are effective.9A: ~~Additionally,~~CONTROLS ~~there~~AND were no significant changes in the Partnership’s internal controls or in other factors that could significantly affect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.PROCEDURES

(ba) Disclosure ~~Management’s~~Controls ~~Annual~~and ~~Report on Internal Control over Financial Reporting~~Procedures

AIS, the general partner and trading advisor of the Partnership, iswith ~~responsible~~the ~~for~~participation ~~establishing~~of ~~and~~Principals ~~maintaining~~of ~~adequate~~AIS, ~~controls~~including ~~over~~the ~~financial~~Managing ~~reporting for~~Principal, ~~the~~has ~~Partnership.~~evaluated ~~Internal~~the ~~control~~effectiveness ~~over~~of ~~financial~~the ~~reporting~~design isand ~~defined~~operation inof ~~Rules~~its ~~13a-15(f)~~disclosure controls and ~~15d-15(f)~~procedures ~~under~~with respect to the ~~Securities Exchange~~Partnership ~~Act~~as of ~~1934,~~the asend ~~amended,~~of asthe aperiod ~~process~~covered ~~designed~~ by this annual report, orand, ~~under~~based ~~the~~on ~~supervision~~their ofevaluation, ahas ~~company’s~~concluded ~~principal~~that ~~executive~~ these disclosure controls and ~~principal~~procedures ~~financial~~are ~~officers~~effective. Additionally, ~~and~~there ~~effected~~were byno asignificant ~~company~~changes in the Partnership’s ~~board~~internal ofcontrols ~~directors,~~or ~~management~~in ~~and~~ other ~~personnel,~~factors tothat ~~provide reasonable~~could ~~assurance~~significantly ~~regarding~~affect ~~the~~these ~~reliability~~controls ofsubsequent ~~financial~~to ~~reporting and~~ the ~~preparation~~date of ~~financial~~their ~~statements~~evaluation, ~~for~~including ~~external purposes~~any incorrective ~~accordance~~actions with ~~U.S.~~regard ~~generally~~to ~~accepted~~significant ~~accounting~~deficiencies ~~principles~~and ~~(“GAAP”)~~material weaknesses.

~~The General Partner’s~~ ~~internal control over financial reporting includes those policies and procedures that~~ (1b) relate to records maintained by the Partnership to accurately and fairly reflect Partnership transactions and disposition of Partnership assets; (2) provide reasonable assurances that Partnership transactions are recorded accurately to permit preparation of Partnership financial statements in accordance with GAAP and that Partnership receipts and expenditures are being made in accordance with the authorizations of AIS Management’s ~~management; and~~Annual ~~(3)~~Report ~~provide reasonable assurances regarding the prevention and detection of unauthorized acquisition, use or disposal of Partnership assets that would have a material effect~~ on ~~the~~Internal ~~Partnership’s~~Control ~~financial~~over ~~statements.~~Financial Reporting

~~Because~~ AIS, the general partner and trading advisor of ~~its~~the ~~inherent limitations~~Partnership, ~~internal~~is responsible for establishing and maintaining adequate controls over financial reporting for the Partnership. Internal control over financial reporting ~~may~~is ~~not~~defined ~~prevent~~in orRules ~~detect~~13a-15(f) ~~misstatements.~~and ~~Projections~~15d-15(f) ofunder ~~any~~the ~~evaluation~~Securities Exchange Act of ~~effectiveness~~ to1934, ~~future~~as ~~periods~~amended, ~~are~~as ~~subject~~a toprocess designed by, or under the ~~risk~~supervision ~~that~~of, ~~controls~~a ~~may~~company’s ~~become~~principal ~~inadequate~~executive ~~because~~and principal financial officers and effected by a company’s board of ~~changes~~directors, inmanagement ~~conditions~~and other personnel, ~~or that~~to provide reasonable assurance regarding the ~~degree~~reliability of ~~compliance~~financial ~~with~~reporting and the ~~policies~~preparation orof ~~procedures~~financial ~~may~~statements ~~deteriorate~~for external purposes in accordance with U.S. generally accepted accounting principles (“GAAP”).

~~AIS has assessed the~~ ~~effectiveness~~The ofGeneral ~~its~~Partner’s internal control over ~~the~~ financial reporting ~~with~~includes ~~respect~~those policies and procedures that (1) relate to records maintained by the Partnership asto ofaccurately ~~December~~and ~~31,~~fairly ~~2012.~~reflect ~~In making~~Partnership ~~this~~transactions ~~assessment,~~and ~~AIS~~disposition ~~used~~of ~~the~~Partnership ~~general~~assets; ~~framework~~(2) ~~set~~provide ~~out~~reasonable inassurances ~~the~~that ~~Internal~~Partnership ~~Control-Integrated~~transactions ~~Framework~~are ~~issued~~recorded byaccurately ~~the~~to ~~Committee~~ permit preparation of ~~Sponsoring~~Partnership ~~Organizations~~financial ~~(COSO)~~statements ofin ~~the~~accordance ~~Treadway~~with ~~Commission.~~GAAP ~~Based~~and onthat ~~its~~Partnership ~~assessment,~~receipts ~~management~~and expenditures are being made in accordance with the authorizations of AIS’ ~~has~~management; ~~concluded~~and ~~that,~~(3) as provide reasonable assurances regarding the prevention and detection of ~~December~~unauthorized 31acquisition, ~~2012,~~use ~~its~~or ~~internal~~disposal ~~control~~of ~~over~~Partnership ~~financial~~assets ~~reporting~~that ~~with~~would ~~respect~~have toa material effect on the Partnership’s isfinancial ~~effective~~statements.

11 Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

~~(c)~~ AIS ~~Changes~~has assessed the effectiveness of its internal control over the financial reporting with respect to the Partnership as of December 31, 2013. In making this assessment, AIS used the general framework set out in the Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations (COSO) of the Treadway Commission. Based on its assessment, management of AIS has concluded that, as of December 31, 2013, its internal control over ~~Financial~~financial ~~Reporting~~reporting with respect to the Partnership is effective.

There were no changes in the General Partner’s internal control over financial reporting during the period ended December 31, 2012 that have materially affected, or are reasonably likely to materially affect, its internal control over financial reporting.11

~~Item~~ (c) Changes ~~9B:~~in ~~OTHER~~Internal ~~INFORMATION~~Control over Financial Reporting

~~None~~ There were no changes in the General Partner’s internal control over financial reporting during the period ended December 31, 2013 that have materially affected, or are reasonably likely to materially affect, its internal control over financial reporting.

12 Item 9B: OTHER INFORMATION

~~PART III~~ None.

~~Item 10: DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE~~12

~~(a)~~ PART ~~Identification of Directors and Executive Officers.~~III

~~The~~ (a) Identification ~~trading principals~~ of ~~the~~Directors ~~General Partner~~ and ~~their~~Executive ~~business backgrounds are as follows~~Officers.

~~John Hummel,~~ age 67, has been the President, Treasurer and Director of AIS since its inception. Mr. Hummel has been a member, associated person and principal of AIS since May 1990. Mr. Hummel has been a research analyst and portfolio manager in the securities field since June 1967 and has traded commodities for his personal account since February 1981 and for customers since June 1983. Mr. Hummel has also been, since its inception in September 1993, the President and a Director, member, associated person and principal of AIS Capital Management LLC (~~“AIS Capital Management”~~i) As ~~and its predecessor, AIS Capital Management, Inc.,~~ a ~~registered commodity~~limited ~~pool operator and investment adviser. Mr. Hummel currently serves as the portfolio manager of AIS Balanced Fund L.P. (formerly Cowen Premier Balanced Fund L.P.)~~partnership, ~~AIS Capital Growth Fund, L.P., and AIS Gold Fund L.P.,~~ the ~~general~~Partnership ~~partner~~itself ofhas ~~each of~~no ~~which is AIS Capital Management. From May 1990 until March 31~~officers, ~~1993,~~directors ~~Mr.~~or ~~Hummel was affiliated with Cowen & Company, a broker-dealer and investment adviser formed in 1918 which is a member of the New York Stock Exchange and all other principal United States exchanges~~employees. At Cowen & Company, Mr. Hummel was directly responsible for managing individual and institutional stock and bond portfolios. From June 1987 until July 1990, Mr. Hummel was affiliated with Matuschka & Co. L.P. (formerly Matuschka Moser Partners L.P.), a United States affiliate of The ~~Matuschka~~Partnership’s ~~Group,~~affairs aare ~~privately-owned~~managed ~~investment~~by firm headquartered in Germany, where he was directly responsible for managing individual and institutional stock and bond portfolios. Also during such time, Mr. Hummel was affiliated with Matuschka Moser Futures Management Corporation from June 1987 until October 1990 where he acted as a portfolio manager with respect to futures trading. Prior to joining Matuschka & Co. L.P. in June 1987, Mr. Hummel was a Managing Director of Mitchell Hutchins Asset Management, Inc., an investment advisory firm which at the ~~time~~General ~~was a subsidiary of PaineWebber Inc~~Partner. ~~(which~~ Trading ~~was~~decisions ~~later~~are ~~acquired~~made by ~~UBS Global Asset Management US Inc.), where he had been responsible for individual and institutional investment portfolios since January 1977. Mr. Hummel directed~~ the ~~trading~~General ofPartner ~~Mitchell~~on ~~Hutchins~~behalf Futures Fund, Ltd. from its inception in December 1983 through June 1987. From April 1976 to December 1976, Mr. Hummel worked for Reynolds Securities, Inc., a brokerage firm in Milwaukee, Wisconsin, where he was an account executive, series 7 broker, specializing in pension consulting. From June 1969 to April 1976, Mr. Hummel served as President of ~~Asset~~the ~~Management Corporation, an investment advisory firm which he helped organize~~Partnership. From June 1967 to June 1969, Mr. Hummel worked as a research analyst for Robert W. Baird & Co., a brokerage firm in Milwaukee, Wisconsin. Mr. Hummel received a B.S. degree in investment management from Northwestern University in 1967.

~~Bradley C. Stern,~~ ~~age~~The ~~47,~~trading isprincipals ~~the Vice President~~ of AIS and of AIS Capital Management. Mr. Stern has been a member and associated person of AIS since March 1993, a member and associated person of AIS Capital Management since March 2004 and a principal of both AIS and AIS Capital Management since November 1993. Mr. Stern graduated from Emory University in with a B.B.A. degree and did post graduate work in finance at New York University in 1991 and 1992. From September 1988 to April 1989, he was an account executive with the ~~recruiting firm~~General ~~Winston~~Partner ~~Resources, where he was responsible for recruiting personnel for various professional positions. From April 1989 to September 1989, he worked as a liaison between retail brokers~~ and ~~insurance~~their ~~companies~~business ~~regarding~~backgrounds ~~such~~are ~~insurance products~~ as ~~annuities, term life and whole life insurance at Thomson McKinnon Securities Inc~~follows., a registered broker-dealer. From September 1989 through March 1993, Mr. Stern became an Assistant Portfolio Manager at Cowen & Company, a broker-dealer and investment adviser formed in 1918 which is a member of the New York Stock Exchange and all other principal United States exchanges, and his responsibilities increased during his time there to include acting as a Trading Analyst for Cowen & Company. In March 1993, Mr. Stern left Cowen & Company with Mr. Hummel to join AIS and has been with AIS since that time.

13 John Hummel, age 68, is Managing Principal of AIS. Mr. Hummel has been a partner, associated person and principal of AIS, inclusive of its predecessors, since May 1990. Mr. Hummel has been a research analyst and portfolio manager in the securities field since June 1967 and has traded commodities for his personal account since February 1981 and for customers since June 1983. Mr. Hummel currently serves as the portfolio manager of AIS Balanced Fund L.P. (formerly Cowen Premier Balanced Fund L.P.), AIS Capital Growth Fund, L.P., and AIS Gold Fund L.P., the general partner of each of which is AIS. From May 1990 until March 31, 1993, Mr. Hummel was affiliated with Cowen & Company, a broker-dealer and investment adviser formed in 1918 which is a member of the New York Stock Exchange and all other principal United States exchanges. At Cowen & Company, Mr. Hummel was directly responsible for managing individual and institutional stock and bond portfolios. From June 1987 until July 1990, Mr. Hummel was affiliated with Matuschka & Co. L.P. (formerly Matuschka Moser Partners L.P.), a United States affiliate of The Matuschka Group, a privately-owned investment firm headquartered in Germany, where he was directly responsible for managing individual and institutional stock and bond portfolios. Also during such time, Mr. Hummel was affiliated with Matuschka Moser Futures Management Corporation from June 1987 until October 1990 where he acted as a portfolio manager with respect to futures trading. Prior to joining Matuschka & Co. L.P. in June 1987, Mr. Hummel was a Managing Director of Mitchell Hutchins Asset Management, Inc., an investment advisory firm which at the time was a subsidiary of PaineWebber Inc. (which was later acquired by UBS Global Asset Management US Inc.), where he had been responsible for individual and institutional investment portfolios since January 1977. Mr. Hummel directed the trading of Mitchell Hutchins Futures Fund, Ltd. from its inception in December 1983 through June 1987. From April 1976 to December 1976, Mr. Hummel worked for Reynolds Securities, Inc., a brokerage firm in Milwaukee, Wisconsin, where he was an account executive, series 7 broker, specializing in pension consulting. From June 1969 to April 1976, Mr. Hummel served as President of Asset Management Corporation, an investment advisory firm which he helped organize. From June 1967 to June 1969, Mr. Hummel worked as a research analyst for Robert W. Baird & Co., a brokerage firm in Milwaukee, Wisconsin. Mr. Hummel received a B.S. degree in investment management from Northwestern University in 1967.

~~(ii) Identification~~ Bradley C. Stern, age 48, is a Principal of ~~Certain~~AIS. Mr. ~~Significant Employees~~Stern has been a partner and associated person of AIS, inclusive of its predecessors, since March 1993 and a principal of AIS, inclusive of its predecessors, since November 1993. Mr. Stern graduated from Emory University in with a B.B.A. degree and did post graduate work in finance at New York University in 1991 and 1992. From September 1988 to April 1989, he was an account executive with the recruiting firm Winston Resources, where he was responsible for recruiting personnel for various professional positions. From April 1989 to September 1989, he worked as a liaison between retail brokers and insurance companies regarding such insurance products as annuities, term life and whole life insurance at Thomson McKinnon Securities Inc., a registered broker-dealer. From September 1989 through March 1993, Mr. Stern became an Assistant Portfolio Manager at Cowen & Company, a broker-dealer and investment adviser formed in 1918 which is a member of the New York Stock Exchange and all other principal United States exchanges, and his responsibilities increased during his time there to include acting as a Trading Analyst for Cowen & Company. In March 1993, Mr. Stern left Cowen & Company with Mr. Hummel to join AIS Futures Management, Inc., a predecessor of AIS, and has been with AIS, inclusive of its predecessors, since that time.

~~None.~~13

Stephen Wayne Edwards, age 34, CFA, joined AIS as a Principal, in September 2013, after co-founding Frontera Management, LLC (~~iii~~“Frontera”) ~~Family~~, ~~Relationships~~a systematic global macro firm, in December 2008. Mr. Edwards registered with the NFA as an associated person of Frontera on June 19, 2009, and as an associated person of AIS Capital Management, L.P. on September 27, 2013. Within both firms, Mr. Edwards has served as a portfolio manager for systematic global macro strategies and guided research of fundamental indicators. Prior to Frontera, Mr. Edwards was a researcher and portfolio manager at Spruce Private Investors, a $3.5 billion investment management firm that acts as an outsourced chief investment officer for private and institutional clients and offers several multi-manager alternative investment partnerships, from February 2004 to December 2008. Mr. Edwards researched and designed Spruce’s systematic investment process and managed clients’ portfolios and a derivative-based, global macro overlay within the firm’s multi-manager funds. This investment process makes use of fundamentally based macro indicators in order to inform the outlook for global equity, credit, commodity, and currency markets. In January 2004, Mr. Edwards was transitioning between employers. At leading global macro firm Bridgewater Associates, LP, he served in the quantitative research and client analytics groups from October 2002 to December 2003 in support of the firm’s diversified, absolute-return global macro strategy and developed a trading system for global equities, nominal bonds, short rates, and currencies. From June 2002 to September 2002, Mr. Edwards co-founded IntotheBest.com, a college counseling service. From September 2001 to May 2002, Mr. Edwards served as a short-term missionary with Campus Crusade for Christ in Maracaibo, Venezuela. From June 2001 to August 2001, Mr. Edwards served as an intern with Restricted Stock Systems, Inc., a software provider that helps banks process restricted stock transactions. Mr. Edwards received an A.B. degree in history from Princeton University in 2001, earning magna cum laude and Phi Beta Kappa honors, and played on the school’s golf team. Mr. Edwards became a CFA charterholder in 2006.

~~None~~ Hui John Zhang, age 44, joined AIS as a Principal, in September 2013, after co-founding Frontera in December 2008. Mr. Zhang registered with the NFA as an associated person of Frontera Management, LLC on February 12, 2009, and as an associated person of AIS Capital Management, L.P. on September 27, 2013. Within both firms, Mr. Zhang has served as a portfolio manager for systematic global macro strategies. From September 2008 to November 2008, Mr. Zhang was planning his next business venture—the launch of Frontera. Prior to that, Mr. Zhang was a managing director and head of customized derivative solutions at U.S. Trust, a private bank and asset management firm, from May 2006 to August 2008. He spearheaded the creation of cross-asset capital-conserved investment management accounts. These portfolios have an absolute-return orientation and involve (i) derivative positions stemming from a fundamental, thematic discretionary global macro process and (ii) various fixed-income instruments to reduce volatility and preserve capital. Mr. Zhang served on the Investment Strategy Committee at U.S. Trust and was responsible for advising clients on customized derivative strategies to enhance investment return and manage asset-liability mismatches. Prior to joining U.S. Trust, Mr. Zhang had overall responsibility for developing the institutional asset management business of Union Bancaire Privée, a private bank and asset management firm, in Asia from April 2005 to April 2006. Mr. Zhang was a member of Citigroup Private Bank’s U.S. Capital Markets Team from April 2003 to March 2005 and was the head of trading and a senior bookrunner in distressed financing, equity derivatives, and convertible bond arbitrage at Crédit Agricole-Lazard Financial Products Bank, an investment bank, from January 2001 to April 2003; Bear, Stearns & Co., Inc., an investment bank, from June 1998 to October 1999; Credit Suisse Group AG, a bank, from September 1997 to May 1998; and UBS AG, a bank, from May 1994 to August 1997, each of which is a major financial institution. In October 1999, Mr. Zhang co-founded eBusiness Enterprise Solutions & Technology Inc., a start-up enterprise software company, and he worked there as co-founder until December 2000. Mr. Zhang graduated summa cum laude with B.A. degrees in mathematics, statistics and economics from the University of Rochester in 1992 and earned a Master’s degree in finance from the Wharton School of the University of Pennsylvania in 1994.

(ivii) ~~Business~~ ~~Experience~~Identification of Certain Significant Employees

~~See above~~ None.

(viii) ~~Involvement~~ inFamily ~~Certain Legal Proceedings.~~Relationships

None.

(viiv) ~~Promoters~~ ~~and~~Business ~~Control Persons~~Experience

~~Not~~ See ~~Applicable~~above.

(bv) ~~Section~~Involvement ~~16(a)~~in ~~Beneficial~~Certain ~~Ownership~~Legal ~~Reporting Compliance~~Proceedings.

~~AIS Futures Management~~ ~~LLC, John Hummel and Brad Stern each filed their initial reports on Form 3 after the Interests became registered under Section 12 of the Securities Exchange Act of 1934~~None. ~~No subsequent filings on Form 4 or Form 5 have been required.~~

(cvi) ~~Code~~Promoters ofand ~~Ethics~~Control Persons

~~The Partnership has~~ noNot ~~employees, officers or directors and is managed by AIS~~Applicable. AIS has adopted a Code of Ethics that applies to its principal executive officer and certain other officers and employees of AIS. A copy of this Code of Ethics may be obtained at no charge by written request to AIS Futures Management LLC, 187 Danbury Road, Suite 201, Wilton, CT 06897 or by calling AIS at (203) 563-1180.

~~Item~~ ~~11:~~(b) Section ~~executive~~16(a) ~~compensation~~Beneficial Ownership Reporting Compliance

The Partnership itself has no officers, directors or employees. None of the principals, officers or employees of AIS receive compensation from the Partnership. AIS makes all trading decisions for the Partnership. AIS receives a monthly Management Fee from the Partnership of 1/12 of 2% of month-end Net Assets attributable to Series A Interests and an annual Profit Share equal to 20% of New Trading Profit realized on Series A Interests, payable at the end of each calendar year on a “high water mark” basis. Because Limited Partners purchase Interests at different times, they may recognize different amounts of New Trading Profit. Each Limited Partner is charged a Profit Share only on the New Trading Profit allocable to such Limited Partner’s investment in the Partnership. There is no Management Fee or Profit Share with respect to Series B Interests, which are available only to AIS, its principals and employees.14

~~The~~ In ~~officers~~advance of the internal reorganization of AIS ~~are~~, ~~compensated~~reported byon Form 8-K filed September 30, 2013, the balance of AIS's general partner capital account was distributed to John Hummel and Bradley Stern, as of August 31, 2013, who each recontributed the amounts distributed to the Partnership in ~~their~~exchange ~~respective~~for ~~positions.~~limited partnership interests as of August 31, 2013. The ~~officers~~amount ~~receive~~of noMr. ~~other~~Hummel's ~~compensation~~contribution ~~from~~to the Partnership was $304,910.30 ~~There~~and ~~are no~~the ~~compensation~~amount ~~plans~~of orMr. ~~arrangements~~Stern's ~~relating~~contribution was $76,227.61. These amounts represented the total balance of each of Mr. Hummel's and Mr. Stern's respective capital account as limited partners in the Partnership as of such date. As of November 30, 2013, Mr. Stern withdrew the total balance of his capital account in the partnership, equal to $61,241.20, for a ~~change~~loss inof ~~control~~$14,986.41. The purchase of ~~either~~these limited partnership interests and Mr. Stern's withdrawal from the Partnership orwere ~~AIS~~not reported at the times of the transactions and thus the number of transactions not reported on a timely basis is three (3).

~~Item~~ ~~12:~~(c) Code ~~Security Ownership~~ of ~~Certain Beneficial Owners and Management and related stockholder matters~~Ethics

( The Partnership has no employees, officers or directors and is managed by AIS. AIS has adopted a) ~~Securities~~Code ~~authorized~~of ~~for~~Ethics ~~issuance~~that ~~under~~applies ~~equity~~to ~~compensation~~its ~~plans~~principal executive officer and certain other officers and employees of AIS. A copy of this Code of Ethics may be obtained at no charge by written request to AIS Capital Management, L.P., 187 Danbury Road, Suite 201, Wilton, CT 06897 or by calling AIS at (203) 563-1180.

14 The Partnership itself has no officers, directors or employees. None of the principals, officers or employees of AIS receive compensation from the Partnership. AIS makes all trading decisions for the Partnership. AIS receives a monthly Management Fee from the Partnership of 1/12 of 2% of month-end Net Assets attributable to Series A Interests and 1/12 of 2.7% of month-end Net Assets attributable to Series C Interests, and an annual Profit Share equal to 20% of New Trading Profit realized on Series A and Series C Interests, payable at the end of each calendar year on a “high water mark” basis. Because Limited Partners purchase Interests at different times, they may recognize different amounts of New Trading Profit. Each Limited Partner is charged a Profit Share only on the New Trading Profit allocable to such Limited Partner’s investment in the Partnership. There is no Management Fee or Profit Share with respect to Series B Interests, which are available only to AIS, its principals and employees.

~~(b)~~ The ~~Security~~officers ~~ownership~~of AIS are compensated by AIS in their respective positions. The officers receive no other compensation from the Partnership. There are no compensation plans or arrangements relating to a change in control of ~~certain~~either ~~beneficial~~the ~~owners~~Partnership or AIS.

Name and Address	Value of Interests held	Percentage Ownership
City of Meriden Police and Fire Fund H 142 East Main Street Meriden, CT 06108	$8,290,215	12.88 %
City of Meriden Employees Fund M 142 East Main Street Meriden, CT 06108	$10,015,861	15.56 %

(a) Securities authorized for issuance under equity compensation plans

~~All of the Partnership’s~~ ~~general partner interest is held by AIS Futures Management LLC~~None.

(cb) Security ~~Ownership~~ownership of ~~Management~~certain beneficial owners

~~The Partnership has~~ no officers or directors. Under the terms of the Limited Partnership Agreement, the Partnership’s affairs are managed by the General Partner, which has discretionary authority over the Partnership’s trading. As of February 28, ~~2013~~2014, the General Partner’s ~~interest~~knows inof the ~~Partnership~~following ~~was~~persons ~~valued~~who atown ~~$390,082,~~beneficially ~~which~~more ~~constituted~~than ~~0.61~~5% of the Partnership’s ~~total~~Interests ~~assets.~~as follows:

As of February 28, 2013, no director, executive officer or member of the General Partner beneficially owned Interests in the Partnership.

~~(d)~~ All ~~Changes~~of inthe ~~Control~~Partnership’s general partner interest is held by AIS Capital Management, L.P.

~~There have been no changes~~ in(c) Security ~~control~~Ownership of ~~the Partnership.~~Management

~~Item~~ ~~13:~~The ~~Certain~~Partnership ~~Relationships~~has ~~and~~no ~~Related~~officers ~~Transactions~~or directors. Under the terms of the Limited Partnership Agreement, ~~and~~the ~~Director~~Partnership’s ~~Independence~~affairs are managed by the General Partner, which has discretionary authority over the Partnership’s trading. As of February 28, 2014, the General Partner’s interest in the Partnership was valued at $0 which constituted 0% of the Partnership’s total assets.

See “Item 11: Executive Compensation” and “Item 12: Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.” The Partnership paid the General Partner $1,412,311 in Management Fees for the year ended December 31, 2012. The Partnership allocated to the General Partner $93,096 in Profit Share for the year ended December 31, 2012. The General Partner’s interest in the Partnership showed an allocation of profit of $49,680 for the year ended December 31, 2012. The Management Fees and Profit Share paid by the Partnership to AIS were not negotiated and are higher than they would have been had they been the result of arm’s-length bargaining.15

~~The Partnership has~~ ~~not~~As ~~and does not make any loans to the General Partner, its affiliates, their respective officers, directors or employees or the immediate family members~~ of ~~any~~February ~~of the foregoing~~28, ~~or to any entity~~2014, ~~trust or other estate in which any of~~ the ~~foregoing~~directors ~~has any interest, or to any other person (provided that the purchase of U.S. Treasury obligations~~ and ~~the~~executive ~~deposit~~officers of ~~Partnership assets with banks, futures brokers and foreign exchange counterparties in connection with~~ the ~~trading~~General ~~operations~~Partner ofowned ~~the~~beneficially ~~Partnership~~Interests ~~are not~~as ~~considered to be loans).~~follows:

None of the General Partner, its affiliates, their respective officers, directors and employees or the immediate family members of any of the foregoing, or any entity trust or other estate in which any of the foregoing has any interest has, to date, sold any asset, directly or indirectly, to the Partnership.

Name	Value of Interest				Percentage of Limited Partnership Interests
	Held Directly		Held Indirectly^*		% Directly		% Indirectly
John Hummel	$	0	$	269,077	0	%	0.65	%

~~The Partnership has~~ noNo ~~directors~~other director, ~~officers~~executive officer or ~~employees~~partner ~~and~~of ~~is managed by~~ the General Partner. ~~The~~beneficially ~~General~~owned ~~Partner~~Interests isin ~~managed by its principals, none of whom are independent of~~ the ~~General Partner~~Partnership.

15 (d) Changes in Control

~~Item~~ ~~14:~~There ~~principal~~have ~~accounting~~been ~~fees~~no ~~and~~changes ~~services~~ in control of the Partnership.

FEE CATEGORY	2012		2011
Audit Fees(1)	$	72,026	$	71,634
Audit-Related Fees		-		-
Tax Fees(2)	$	16,000	$	16,000
All Other Fees		-		-
TOTAL FEES	$	88,026	$	87,634

See “Item 11: Executive Compensation” and “Item 12: Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.” The Partnership paid the General Partner $1,100,133 in Management Fees for the year ended December 31, 2013. The Partnership allocated to the General Partner $1,192 in Profit Share for the year ended December 31, 2013. The General Partner’s interest in the Partnership showed an allocation of loss of $(29,735) for the year ended December 31, 2013. The Management Fees and Profit Share paid by the Partnership to AIS were not negotiated and are higher than they would have been had they been the result of arm’s-length bargaining.

~~(1)~~ At ~~Audit~~December ~~fees~~31, ~~consist~~2013, ofJohn ~~fees~~Hummel, ~~for professional services rendered for~~ the ~~audit~~Managing Principal of the ~~Partnership’s~~General ~~financial~~Partner, ~~statements~~held ~~and~~an ~~review~~interest ~~of financial statements included~~ in the Partnership’s ~~quarterly~~totaling ~~reports~~$249,046.

~~(2)~~ The ~~Tax~~Partnership ~~fees~~has ~~consist~~not and does not make any loans to the General Partner, its affiliates, their respective officers, directors or employees or the immediate family members of ~~fees~~any ~~for~~of the ~~preparation~~foregoing, or to any entity, trust or other estate in which any of the ~~Partnership’s~~foregoing has any interest, or to any other person (provided that the purchase of U.S. ~~federal~~Treasury obligations and ~~required~~the ~~state~~deposit ~~tax~~of ~~returns.~~Partnership ~~The~~assets ~~entire~~with ~~amount~~banks, offutures ~~such~~brokers ~~fees~~and ~~was~~foreign ~~pre-approved~~exchange bycounterparties in connection with the ~~principals~~trading operations of ~~AIS~~the Partnership are not considered to be loans).

~~Neither~~ ~~the~~None ~~Partnership~~of ~~nor~~the ~~AIS~~General ~~has~~Partner, anits ~~audit~~affiliates, ~~committee~~their torespective ~~pre-approve~~officers, ~~accountant~~directors and ~~auditor~~employees ~~fees~~or ~~and~~the ~~services. In~~immediate ~~lieu~~family members of anany ~~audit committee,~~of the ~~principals~~foregoing, ofor ~~AIS~~any ~~pre-approve~~entity ~~the~~trust ~~engagement~~or other estate in which any of the ~~auditor~~foregoing ~~and~~has ~~its~~any ~~fees~~interest ~~and~~has, ~~services~~to ~~prior~~date, sold any asset, directly or indirectly, to the ~~commencement of services~~Partnership.

16 The Partnership has no directors, officers or employees and is managed by the General Partner. The General Partner is managed by its principals, none of whom are independent of the General Partner.

~~Item~~ ~~15:~~The ~~EXHIBITS~~following table sets forth the fees billed to the Partnership for professional audit services and professional tax services provided by Arthur F. Bell, ~~FINANCIAL~~Jr. ~~STATEMENT~~& ~~SCHEDULES~~Associates, L.L.C., the Partnership’s independent registered public accountant for 2013 and 2012, for the audit of the Partnership’s annual financial statements and filing of the Partnership’s annual income tax returns for the years ended December 31, 2013 and 2012, respectively.

(a) Financial Statements

FEE CATEGORY	2013		2012

Audit Fees⁽¹⁾	$	73,936	$	72,026
Audit-Related Fees		-		-
Tax Fees⁽²⁾	$	16,000	$	16,000
All Other Fees		-		-

TOTAL FEES	$	89,936	$	88,026

~~The following financial~~ ~~statements are included herewith, beginning following the Index to Financial Statements appearing after the signature page hereof, and are incorporated into Item 8:~~____________

~~· Statements~~ * Interests held indirectly include Interests with respect to which a person holds voting or disposition power: (i) by virtue of ~~Financial~~serving ~~Condition~~as atone ~~December~~of 31two or fewer trustees, ~~2012~~custodian ~~and~~or ~~2011~~officer of the beneficial owner which is a charitable entity, benefit plan or custody account for the benefit of a minor; (ii) with respect to certain Interests owned by members of a person’s immediate family; or (iii) through a self directed benefit plan.

~~· Condensed Schedule~~(1) Audit fees consist of ~~Investments~~fees atfor ~~December~~professional ~~31,~~services ~~2012;~~ rendered for the audit of the Partnership’s financial statements and review of financial statements included in the Partnership’s quarterly reports.

~~· Condensed Schedule~~(2) Tax fees consist of ~~Investments~~fees atfor ~~December~~the ~~31,~~preparation ~~2011;~~ of the Partnership’s U.S. federal and required state tax returns. The entire amount of such fees was pre-approved by the principals of AIS.

~~· Statements~~ Neither the Partnership nor AIS has an audit committee to pre-approve accountant and auditor fees and services. In lieu of ~~Operations~~an ~~For~~audit committee, the ~~Years~~principals ~~Ended~~of ~~December~~AIS ~~31,~~pre-approve ~~2012~~the engagement of the auditor and ~~2011;~~its fees and services prior to the commencement of services.

~~· Statements of Changes in Partners’ Capital (Net Asset Value) For the Years Ended December 31, 2012 and 2011.~~16

~~(b)~~ PART ~~Exhibits~~IV

Exhibit Designation	Description
*3.1	Certificate of Formation of AIS Futures Fund IV L.P.
**4.2	Fourth Amended and Restated Limited Partnership Agreement of AIS Futures Fund IV L.P., dated as of March 1, 2008
31.01	Rule 13a-14(a)/15d-14(a) Certification
32.01	Section 1350 Certification

(a) Financial Statements

* The ~~This~~following ~~exhibit~~financial isstatements ~~incorporated~~are byincluded ~~reference to~~herewith, ~~the~~beginning ~~exhibit~~following of the ~~same~~Index ~~number~~to ~~and~~Financial ~~description~~Statements ~~filed~~appearing ~~with~~after the ~~Partnership’s~~signature ~~Registration~~page ~~Statement (File No. 000-52599) filed on April 30~~hereof, ~~2007~~and onare ~~Form~~incorporated 10into ~~under~~Item ~~the Securities Exchange Act of 1934.~~8:

**· ~~This~~Statements ~~exhibit is incorporated by reference to the exhibit~~ of ~~the~~Financial ~~same~~Condition ~~number~~at ~~and~~December ~~description filed with the Partnership’s Current Report (File No. 000-52599) filed on March 5~~31, ~~2008~~2013 onand ~~Form 8-K under the Securities Exchange Act of 1934.~~2012;

17· Condensed Schedule of Investments at December 31, 2013;

~~SIGNATURES~~· Condensed Schedule of Investments at December 31, 2012;

~~Pursuant~~· toStatements ~~the requirements~~ of ~~Section~~Operations 13For ~~or 15(d) of~~ the ~~Securities~~Years ~~Exchange~~Ended ~~Act~~December ~~of 1934 the registrant has duly caused this report to be signed on its behalf by the undersigned~~31, ~~thereunto~~2013 ~~duly~~and ~~authorized.~~2012; and

~~Dated:~~· ~~March~~Statements 22of Changes in Partners’ Capital (Net Asset Value) For the Years Ended December 31, 2013 and 2012.

~~AIS FUTURES FUND IV L.P. By: AIS FUTURES MANAGEMENT LLC By: /s/ John Hummel Name: John Hummel Title: President~~ (b) Exhibits

~~Pursuant to the requirements of the Securities~~ ~~Exchange~~The ~~Act of 1934, this report has been signed below by the~~ following ~~persons~~documents on(unless ~~behalf~~otherwise ofindicated) ~~the~~are ~~General~~filed ~~Partner~~herewith ~~of the registrant~~ and inmade ~~the~~part ~~capacities~~of ~~and~~this onregistration ~~the date indicated~~statement.

Dated: March 22, 2013

Exhibit Designation		Description

*3.1		Certificate of Formation of AIS Futures Fund IV L.P.

**4.2		Fourth Amended and Restated Limited Partnership Agreement of AIS Futures Fund IV L.P., dated as of March 1, 2008

31.01		Rule 13a-14(a)/15d-14(a) Certification

32.01		Section 1350 Certification

~~By: /s/ John Hummel Name: John Hummel Title: Executive Officer, Principal Financial Officer and majority of the board of directors, or equivalent thereof, of AIS Futures Management LLC~~ _________________________________

18 * This exhibit is incorporated by reference to the exhibit of the same number and description filed with the Partnership’s Registration Statement (File No. 000-52599) filed on April 30, 2007 on Form 10 under the Securities Exchange Act of 1934.

~~INDEX~~ ** TOThis ~~FINANCIAL~~exhibit ~~STATEMENTS~~is incorporated by reference to the exhibit of the same number and description filed with the Partnership’s Current Report (File No. 000-52599) filed on March 5, 2008 on Form 8-K under the Securities Exchange Act of 1934.

~~AIS Futures Fund IV L.P. Annual Report, December 31, 2012~~17

Report of Independent Registered Public Accounting Firm	F-2
Statements of Financial Condition at December 31, 2012 and 2011	F-3
Condensed Schedule of Investments at December 31, 2012	F-4
Condensed Schedule of Investments at December 31, 2011	F-5
Statements of Operations For the Years Ended December 31, 2012 and 2011	F-6
Statements of Changes in Partners’ Capital (Net Asset Value) For the Years Ended December 31, 2012 and 2011	F-7
Notes to Financial Statements	F-8 – F-16

SIGNATURES

~~F-1~~ Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934 the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

~~REPORT~~ Dated: OFMarch ~~INDEPENDENT~~31, ~~REGISTERED PUBLIC ACCOUNTING FIRM~~2014

ToAIS ~~the~~FUTURES ~~Partners~~FUND IV L.P. By: AIS CAPITAL MANAGEMENT, L.P. By: /s/ John Hummel Name: John Hummel Title: Managing Principal

~~AIS~~ Pursuant ~~Futures~~to ~~Fund~~the IVrequirements Lof the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the General Partner of the registrant and in the capacities and on the date indicated.P.

~~We have audited the accompanying statements~~ ofDated: ~~financial~~March ~~condition of AIS Futures Fund IV L.P., including the condensed schedules of investments, as of December~~ 31, 2012 and 2011, and the related statements of operations and changes in partners’ capital (net asset value) for the years then ended. These financial statements are the responsibility of the Partnership’s management. Our responsibility is to express an opinion on these financial statements based on our audits.2014

WeBy: ~~conducted~~/s/ ~~our~~John ~~audits~~Hummel inName: ~~accordance~~John ~~with the~~Hummel ~~standards~~Title: ofManaging ~~the~~Principal ~~Public Company Accounting Oversight Board~~ (~~United~~principal ~~States).~~executive ~~Those standards require that we plan~~ and ~~perform the~~principal ~~audit to obtain reasonable assurance about whether the~~ financial ~~statements~~officer) ~~are free~~ of ~~material~~AIS ~~misstatement.~~Capital ~~The Partnership is not required to have~~Management, ~~nor were we engaged to perform, an audit of its internal control over financial reporting~~L. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Partnership’s internal control over financial reportingP. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of AIS Futures Fund IV L.P. as of December 31, 2012 and 2011, and the results of its operations and the changes in its net asset values for the years then ended, in conformity with U.S. generally accepted accounting principles.18

~~/s/~~ INDEX ~~Arthur~~TO F.FINANCIAL ~~Bell, Jr. & Associates, L.L.C.~~STATEMENTS

~~Hunt~~ AIS ~~Valley~~Futures Fund IV L.P. Annual Report, ~~Maryland~~December 31, 2013

March 21, 2013

Report of Independent Registered Public Accounting Firm	F-2

Statements of Financial Condition at December 31, 2013 and 2012	F-3

Condensed Schedule of Investments at December 31, 2013	F-4

Condensed Schedule of Investments at December 31, 2012	F-5

Statements of Operations For the Years Ended December 31, 2013 and 2012	F-6

Statements of Changes in Partners’ Capital (Net Asset Value) For the Years Ended December 31, 2013 and 2012	F-7

Notes to Financial Statements	F-8 – F-18

F-21

~~AIS~~ REPORT ~~FUTURES~~OF ~~FUND~~INDEPENDENT IVREGISTERED ~~L.P.~~PUBLIC ACCOUNTING FIRM

~~STATEMENTS~~ To OFthe ~~FINANCIAL CONDITION~~Partners

~~December~~ AIS ~~31,~~Futures ~~2012~~Fund ~~and~~IV ~~2011~~L.P.

~~_________________~~ We have audited the accompanying statements of financial condition of AIS Futures Fund IV L.P., including the condensed schedules of investments, as of December 31, 2013 and 2012, and the related statements of operations and changes in partners’ capital (net asset value) for the years then ended. These financial statements are the responsibility of the Partnership’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

	2012			2011
ASSETS
Equity in futures broker trading accounts
Cash	$	7,717,348		$	1,392,243
United States government securities		11,998,456			13,997,799
Unrealized gain (loss) on open futures contracts, net		(3,196,249	)		1,422,920
Interest receivable		326			321
Deposits with futures brokers		16,519,881			16,813,283
Cash		4,555,241			10,526,453
United States government securities		48,986,396			55,493,813
Total assets	$	70,061,518		$	82,833,549
LIABILITIES
Cash deficit at securities broker	$	0		$	10,497,556
Accounts payable		105,042			115,772
Commissions and other trading fees on open contracts payable		13,278			8,862
Management fee payable		112,035			119,074
Selling agent administrative and service fee payable		159,464			167,386
Subscriptions received in advance		0			25,000
Redemptions payable		143,073			1,065,849
Total liabilities		532,892			11,999,499
PARTNERS’ CAPITAL (Net Asset Value)
General Partner - Series B		410,873			361,193
Limited Partners - Series A		69,117,753			70,472,857
Total partners’ capital (Net Asset Value)		69,528,626			70,834,050
	$	70,061,518		$	82,833,549

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Partnership is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Partnership’s internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

~~See~~ In ~~accompanying~~our ~~notes~~opinion, the financial statements referred to above present fairly, in all material respects, the financial position of AIS Futures Fund IV L.P. as of December 31, 2013 and 2012, and the results of its operations and the changes in its net asset values for the years then ended, in conformity with U.S. generally accepted accounting principles.

~~F-3~~ Hunt Valley, Maryland

~~AIS~~ March ~~FUTURES~~20, ~~FUND IV L.P.~~2014

~~CONDENSED SCHEDULE OF INVESTMENTS~~ F-2

AIS FUTURES FUND IV L.P. STATEMENTS OF FINANCIAL CONDITION December 31, 2013 and 2012 _____________________

_______________

	2013		2012
ASSETS
Equity in futures broker trading accounts
Cash	$	3,840,242	$	7,717,348
United States government securities		8,499,181		11,998,456
Unrealized (loss) on open futures contracts, net		(591,732)		(3,196,249)
Interest receivable		236		326

Deposits with futures brokers		11,747,927		16,519,881

Cash		86,602		4,555,241
United States government securities		31,994,040		48,986,396

Total assets	$	43,828,569	$	70,061,518

LIABILITIES
Accounts payable	$	87,728	$	105,042
Commissions and other trading fees on open contracts payable		7,974		13,278
Management fee payable		72,608		112,035
Selling agent administrative and service fee payable		100,423		159,464
Redemptions payable		3,818,060		143,073

Total liabilities		4,086,793		532,892

PARTNERS’ CAPITAL (Net Asset Value)
General Partner - Series B		0		410,873
Limited Partners - Series A		39,218,336		69,117,753
Limited Partners - Series B		249,046		0
Limited Partners - Series C		274,394		0

Total partners’ capital (Net Asset Value)		39,741,776		69,528,626

	$	43,828,569	$	70,061,518

~~UNITED~~ See ~~STATES~~accompanying GOVERNMENT SECURITIES*notes

Face Value		Maturity Date	Description	Fair Value		% of Net Asset Value
$	5,000,000	01/03/13	U.S. Treasury Bills	$	4,999,947		7.19	%
	2,500,000	01/10/13	U.S. Treasury Bills		2,499,916		3.60	%
	6,500,000	01/24/13	U.S. Treasury Bills		6,499,466		9.35	%
	3,500,000	02/07/13	U.S. Treasury Bills		3,499,510		5.03	%
	5,000,000	02/14/13	U.S. Treasury Bills		4,999,233		7.19	%
	4,000,000	02/21/13	U.S. Treasury Bills		3,999,400		5.75	%
	1,000,000	02/28/13	U.S. Treasury Bills		999,817		1.44	%
	4,500,000	03/14/13	U.S. Treasury Bills		4,499,079		6.47	%
	15,000,000	04/11/13	U.S. Treasury Bills		14,994,763		21.56	%
	14,000,000	06/13/13	U.S. Treasury Bills		13,993,721		20.13	%
			Total United States government securities
			(cost - $60,964,620)	$	60,984,852		87.71	%

	F-3

~~LONG~~AIS FUTURES CONTRACTS**FUND IV L.P. CONDENSED SCHEDULE OF INVESTMENTS December 31, 2013 ____________________

	Description	Fair Value			% of Net Asset Value
	Agricultural	$	(1,834,827	)		(2.64	)%
	Currencies		(298,925	)		(0.43	)%
	Energy		697,835			1.00	%
	Metals		(2,530,852	)		(3.64	)%
	Total long futures contracts	$	(3,966,769	)		(5.71	)%
SHORT FUTURES CONTRACTS**
	Description
	Currencies	$	770,520			1.11	%
	Total futures contracts	$	(3,196,249	)		(4.60	)%

UNITED STATES GOVERNMENT SECURITIES*

* Includes $12,000,000 face value with a fair value of $11,998,456 pledged as collateral for the trading of futures and options on futures contracts.

						% of Net
Face Value		Maturity Date	Description	Fair Value		Asset Value

$	9,500,000	01/09/14	U.S. Treasury Bills	$	9,499,888	23.91	%
	4,500,000	02/06/14	U.S. Treasury Bills		4,499,841	11.32	%
	2,500,000	02/27/14	U.S. Treasury Bills		2,499,819	6.29	%
	1,000,000	03/06/14	U.S. Treasury Bills		999,913	2.52	%
	1,500,000	04/03/14	U.S. Treasury Bills		1,499,899	3.77	%
	7,500,000	04/10/14	U.S. Treasury Bills		7,498,246	18.87	%
	1,500,000	05/15/14	U.S. Treasury Bills		1,499,521	3.77	%
	12,500,000	06/19/14	U.S. Treasury Bills		12,496,094	31.44	%

			Total United States government securities
			(cost - $40,488,057)	$	40,493,221	101.89	%

**LONG NoFUTURES ~~individual futures contract position constituted greater than 5 percent of Net Asset Value. Accordingly, the number of contracts and expiration dates are not presented.~~CONTRACTS**

See accompanying notes.

			% of Net
Description	Fair Value		Asset Value

Agricultural	$	(56,090)	(0.14)	%
Currencies		(331,125)	(0.83)	%
Energy		(99,519)	(0.25)	%
Metals		(595,609)	(1.50)	%

Total long futures contracts	$	(1,082,343)	(2.72)	%

~~F-4~~SHORT FUTURES CONTRACTS**

AIS FUTURES FUND IV L.P.

No. of Contracts	Description

208	Interest Rates (U.S. Treasury Bond, expires 3/2014)	$	490,611	1.23	%

	Total futures contracts	$	(591,732)	(1.49)	%

~~CONDENSED~~ * Includes ~~SCHEDULE~~$8,500,000 OFface ~~INVESTMENTS~~value with a fair value of $8,499,181 pledged as collateral for the trading of futures and options on futures contracts.

~~December~~ ** No 31individual futures contract position constituted greater than 5 percent of Net Asset Value. Accordingly, ~~2011~~except for the short interest rate futures contracts, the number of contracts and expiration dates are not presented.

~~_______________~~ See accompanying notes.

UNITED STATES GOVERNMENT SECURITIES* F-4

Face Value		Maturity Date	Description	Fair Value		% of Net Asset Value
$	1,000,000	01/12/12	U.S. Treasury Bills	$	999,989		1.41	%
	2,000,000	01/19/12	U.S. Treasury Bills		1,999,915		2.82	%
	8,000,000	01/26/12	U.S. Treasury Bills		7,999,278		11.29	%
	6,000,000	02/09/12	U.S. Treasury Bills		5,999,678		8.47	%
	4,000,000	02/23/12	U.S. Treasury Bills		3,999,880		5.65	%
	1,000,000	03/01/12	U.S. Treasury Bills		999,936		1.41	%
	8,000,000	04/05/12	U.S. Treasury Bills		7,999,573		11.29	%
	7,000,000	04/19/12	U.S. Treasury Bills		6,999,145		9.88	%
	10,500,000	05/31/12	U.S. Treasury Bills		10,498,227		14.82	%
	10,000,000	06/07/12	U.S. Treasury Bills		9,998,797		14.12	%
	12,000,000	06/28/12	U.S. Treasury Bills		11,997,194		16.94	%
			Total United States government securities
			(cost - $69,483,509)	$	69,491,612		98.10	%

AIS FUTURES FUND IV L.P.

CONDENSED SCHEDULE OF INVESTMENTS

DECEMBER 31, 2012

____________________

~~LONG~~ ~~FUTURES~~UNITED ~~CONTRACTS~~STATES GOVERNMENT SECURITIES**

			Description		Fair Value				% of Net Asset Value
Face Value		Maturity Date		Description	Fair Value			% of Net Asset Value
			Agricultural		$	1,732,665				2.45	%
$	5,000,000	01/03/13		U.S. Treasury Bills	$	4,999,947		7.19	%
			Currencies			735,374				1.04	%
	2,500,000	01/10/13		U.S. Treasury Bills		2,499,916		3.60	%
			Energy			807,114				1.14	%
	6,500,000	01/24/13		U.S. Treasury Bills		6,499,466		9.35	%
			Metals			(1,852,233	)			(2.62	)%
	3,500,000	02/07/13		U.S. Treasury Bills		3,499,510		5.03	%
			Total long futures contracts		$	1,422,920				2.01	%
	5,000,000	02/14/13		U.S. Treasury Bills		4,999,233		7.19	%
	4,000,000	02/21/13		U.S. Treasury Bills		3,999,400		5.75	%
	1,000,000	02/28/13		U.S. Treasury Bills		999,817		1.44	%
	4,500,000	03/14/13		U.S. Treasury Bills		4,499,079		6.47	%
	15,000,000	04/11/13		U.S. Treasury Bills		14,994,763		21.56	%
	14,000,000	06/13/13		U.S. Treasury Bills		13,993,721		20.13	%
				Total United States government securities
				(cost - $60,964,620)	$	60,984,852		87.71	%

*	Includes $14,000,000 face value with a fair value of $13,997,799 pledged as collateral for the trading of futures and options on futures contracts.
**	No individual futures contract position constituted greater than 5 percent of Net Asset Value. Accordingly, the number of contracts and expiration dates are not presented.

LONG FUTURES CONTRACTS**

See accompanying notes.

Description	Fair Value		% of Net Asset Value

Agricultural	$	(1,834,827)	(2.64)	%
Currencies		(298,925)	(0.43)	%
Energy		697,835	1.00	%
Metals		(2,530,852)	(3.64)	%

Total long futures contracts	$	(3,966,769)	(5.71)	%

~~F-5~~ SHORT FUTURES CONTRACTS**

AIS FUTURES FUND IV L.P.

Description
Currencies	$	770,520	1.11	%
Total futures contracts	$	(3,196,249)	(4.60)	%

STATEMENTS OF OPERATIONS

*		Includes $12,000,000 face value with a fair value of $11,998,456 pledged as collateral for the trading of futures and options on futures contracts.
**		No individual futures contract position constituted greater than 5 percent of Net Asset Value. Accordingly, the number of contracts and expiration dates are not presented.

~~For the Years Ended December 31, 2012~~ ~~and~~See ~~2011~~accompanying notes.

~~_______________~~F-5

	2012			2011
TRADING GAINS (LOSSES)
Realized	$	15,042,250		$	10,549,941
Change in unrealized		(4,619,169	)		(12,085,896	)
Brokerage commissions		(101,783	)		(87,389	)
Total trading gains (losses)		10,321,298			(1,623,344	)
NET INVESTMENT (LOSS)
Income
Interest income		62,822			118,806
Expenses
Selling agent administrative and service fee		1,733,091			2,235,282
Management fee		1,412,311			1,796,627
Operating expenses		170,588			193,088
Total expenses		3,315,990			4,224,997
Net investment (loss)		(3,253,168	)		(4,106,191	)
NET INCOME (LOSS)		7,068,130			(5,729,535	)
Less: General Partner Profit Share allocation		93,096			425,595
Net income (loss) for pro rata allocation to all partners	$	6,975,034		$	(6,155,130	)
Net income (loss) is comprised as follows:
Net income attributable to General Partner	$	142,776		$	394,433
Net income (loss) attributable to Limited Partners		6,925,354			(6,123,968	)
Total net income (loss)	$	7,068,130		$	(5,729,535	)

AIS FUTURES FUND IV L.P.

STATEMENTS OF OPERATIONS

For the Years Ended December 31, 2013 and 2012

____________________

See accompanying notes.

	2013		2012
TRADING GAINS (LOSSES)
Realized	$	(18,029,530)	$	15,042,250
Change in unrealized		2,604,517		(4,619,169)
Brokerage commissions		(83,981)		(101,783)

Total gain (loss) from trading		(15,508,994)		10,321,298

NET INVESTMENT (LOSS)
Income
Interest income		43,953		62,822

Expenses
Selling agent administrative and service fee		1,328,963		1,733,091
Management fee		1,100,133		1,412,311
Operating expenses		161,713		170,588

Total expenses		2,590,809		3,315,990

Net investment (loss)		(2,546,856)		(3,253,168)

NET INCOME (LOSS)		(18,055,850)		7,068,130

Less: General Partner Profit Share allocation		1,192		93,096

Net income (loss) for pro rata allocation to all partners	$	(18,057,042)	$	6,975,034

Net income (loss) is comprised as follows:

Net income attributable to General Partner	$	(28,543)	$	142,776

Net income (loss) attributable to Limited Partners		(18,027,307)		6,925,354

Total net income (loss)	$	(18,055,850)	$	7,068,130

~~F-6~~ See accompanying notes.

~~AIS FUTURES FUND IV L.P.~~F-6

AIS FUTURES FUND IV L.P. STATEMENTS OF CHANGES IN PARTNERS’ CAPITAL (NET ASSET VALUE) For the Years Ended December 31, 2013 and 2012 ____________________

For the Years Ended December 31, 2012 and 2011

	Partners’ Capital
	Series B			Series A		Series B			Series C
	General			Limited		Limited			Limited
	Partner			Partners		Partners			Partners		Total

Balances at December 31, 2011	$	361,193		$	70,472,857	$	0		$	0	$	70,834,050

Net income for the year ended December 31, 2012:		93,096			0		0			0		93,096
General Partner Profit Share allocation		49,680			6,925,354		0			0		6,975,034
Pro rata allocation to all partners
		0			2,596,000		0			0		2,596,000
Subscriptions
		(93,096)			(10,876,458)		0			0		(10,969,554)
Redemptions
	$	410,873		$	69,117,753	$	0		$	0	$	69,528,626
Balances at December 31, 2012
Transfers		0			(186,349)		0			186,349		0
Net income (loss) for the year ended December 31, 2013:
General Partner Profit Share allocation		1,192			0		0			0		1,192
Pro rata allocation to all partners		(29,735)			(17,916,753)		(70,851)			(39,703)		(18,057,042)

Subscriptions		0			313,000		381,138	⁽¹⁾		150,000		844,138

Redemptions		(382,330)	⁽¹⁾		(12,109,315)		(61,241)			(22,252)		(12,575,138)

Balances at December 31, 2013	$	0		$	39,218,336	$	249,046		$	274,394	$	39,741,776

~~_______________~~ (1) Effective August 31, 2013, the General Partner withdrew its entire capital account balance in the Partnership, totaling $381,138. Accordingly, the $381,138 is included in the redemptions by the General Partner during the year ended December 31, 2013. In lieu of distributing cash proceeds, capital subscriptions totaling $381,138 were made on behalf of the principals of the General Partner, effective August 31, 2013.

	Partners’ Capital
	Series B -			Series A -
	General			Limited
	Partner			Partners			Total
Balances at December 31, 2010	$	392,355		$	96,739,512		$	97,131,867
Net income (loss) for the year ended December 31, 2011:
General Partner Profit Share allocation		425,595			0			425,595
Pro rata allocation to all partners		(31,162	)		(6,123,968	)		(6,155,130	)
Subscriptions		0			2,374,609			2,374,609
Redemptions		(425,595	)		(22,517,296	)		(22,942,891	)
Balances at December 31, 2011		361,193			70,472,857			70,834,050
Net income for the year ended December 31, 2012:
General Partner Profit Share allocation		93,096			0			93,096
Pro rata allocation to all partners		49,680			6,925,354			6,975,034
Subscriptions		0			2,596,000			2,596,000
Redemptions		(93,096	)		(10,876,458	)		(10,969,554	)
Balances at December 31, 2012	$	410,873		$	69,117,753		$	69,528,626

See accompanying notes.

~~See accompanying notes.~~F-7

~~F-7~~AIS FUTURES FUND IV L.P. NOTES TO FINANCIAL STATEMENTS ____________________

~~AIS~~Note ~~FUTURES~~1. ~~FUND~~ORGANIZATION IVAND ~~L.P.~~SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

~~NOTES~~ A. General TODescription ~~FINANCIAL~~of ~~STATEMENTS~~the Partnership

~~_______________~~ AIS Futures Fund IV L.P. (the Partnership) is a Delaware limited partnership, which operates as a commodity investment pool. The Partnership engages in the speculative trading of futures contracts and options on futures contracts. The Partnership 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 is also subject to the applicable reporting requirements of the Securities Exchange Act of 1934.

~~Note~~ The 1.Fourth ~~ORGANIZATION~~Amended ~~AND~~and ~~SUMMARY~~Restated OFLimited ~~SIGNIFICANT~~Partnership ~~ACCOUNTING~~Agreement ~~POLICIES~~(the Limited Partnership Agreement) provides, among other things, that the Partnership shall dissolve no later than December 31, 2026.

A. General Description of the Partnership AIS Futures Fund IV L.P. (the Partnership) is a Delaware limited partnership, which operates as a commodity investment pool. The Partnership engages in the speculative trading of futures contracts and options on futures contracts. The Partnership 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 is also subject to the applicable reporting requirements of the Securities Exchange Act of 1934. The Fourth Amended and Restated Limited Partnership Agreement (the Limited Partnership Agreement) provides, among other things, that the Partnership shall dissolve no later than December 31, 2026. B. Method of Reporting and Use of Estimates The Partnership’s financial statements are presented in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Financial Accounting Standards Board (FASB) Accounting Standards Codification (the Codification), is the single source of U.S. GAAP. Pursuant to the Cash Flows Topic of the Codification, the Partnership qualifies for an exemption from the requirement to provide a statement of cash flows and has elected not to provide a statement of cash flows. C. Futures Contracts and Options on Futures Contracts Futures contracts and options on futures contracts transactions are recorded on the trade date and open contracts are reflected at fair value, based on the primary exchange’s closing price. Gains or losses are realized when contracts are liquidated. As each broker has the individual right of offset, the Partnership presents the aggregate net unrealized gains with such brokers as net unrealized gain and the aggregate net unrealized (losses) with such brokers as net unrealized (loss) (i.e., net unrealized gains from one broker are not off-set against net unrealized (losses) from another broker) in the statements of financial condition. The unrealized gains or losses on open futures contracts is the difference between contract trade price and quoted market price. Any change in net unrealized gain or loss from the preceding period is reported in the statements of operations. Brokerage commissions include other trading fees and are charged to expense when contracts are opened. D. United States Government Securities United States government securities are stated at cost plus accrued interest, which approximates fair value based on quoted market prices. Any change in value of these securities is reported as interest income in the statements of operations.

~~F-8~~ The Partnership’s financial statements are presented in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP) which require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Financial Accounting Standards Board (FASB) Accounting Standards Codification (the Codification), is the single source of U.S. GAAP.

~~AIS~~ Pursuant ~~FUTURES~~to ~~FUND~~the IVCash LFlows Topic of the Codification, the Partnership qualifies for an exemption from the requirement to provide a statement of cash flows and has elected not to provide a statement of cash flows.P.

~~NOTES~~ C. Futures TOContracts ~~FINANCIAL~~and ~~STATEMENTS~~Options ~~(CONTINUED)~~on Futures Contracts

~~_______________~~ Futures contracts and options on futures contracts transactions are recorded on the trade date and open contracts are reflected at fair value, based on the primary exchange’s closing price. Gains or losses are realized when contracts are liquidated. As each broker has the individual right of offset, the Partnership presents the aggregate net unrealized gains with such brokers as net unrealized gain and the aggregate net unrealized (losses) with such brokers as net unrealized (loss) (i.e., net unrealized gains from one broker are not off-set against net unrealized (losses) from another broker) in the statements of financial condition. The unrealized gains or losses on open futures contracts is the difference between contract trade price and quoted market price. Any change in net unrealized gain or loss from the preceding period is reported in the statements of operations. Brokerage commissions on futures contracts and options on futures contracts include other trading fees and are charged to expense when contracts are opened.

~~Note 1~~ D. United ~~ORGANIZATION~~States ~~AND~~Government ~~SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)~~Securities

E. United ~~Income~~States ~~Taxes~~government ~~The~~securities ~~Partnership~~are ~~prepares~~stated ~~and~~at ~~files~~cost ~~calendar~~plus ~~year~~accrued ~~U.S. and applicable state information tax returns and reports to the partners their allocable shares of the Partnership’s income~~interest, ~~expenses~~which ~~and~~approximates ~~trading~~fair ~~gains~~value ~~or losses. No provision for income taxes has been made in these financial statements as each partner is individually responsible for reporting income or loss~~ based on ~~its~~quoted ~~respective~~market ~~share of the Partnership’s income and expenses as reported for income tax purposes~~prices. ~~The~~Any ~~2009~~change through 2012 tax years generally remain subject to examination by U.S. federal and most state tax authorities. The Partnership applies the provisions of Codification Topic 740, Income Taxes, which prescribe the minimum recognition threshold a tax position must meet in ~~connection~~value with accounting for uncertainties in income tax positions taken or expected to be taken by an entity before being measured and recognized in the financial statements. This accounting standard requires the evaluation of ~~tax~~these ~~positions~~securities ~~taken~~is orreported expected to be taken in the course of preparing the Partnership’s financial statements to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions with respect to tax at the Partnership level not deemed to meet the “more-likely-than-not” threshold would be recorded as ~~a tax expense in the current year. The Partnership has elected an accounting policy to classify~~ interest ~~and penalties, if any, as interest expense. The General Partner has concluded there is no tax expense or interest expense related to uncertainties in~~ income ~~tax positions for the years ended December 31, 2012 and 2011. F. Foreign Currency Transactions The Partnership’s functional currency is the U.S. dollar; however, it transacts business~~ in ~~currencies other than~~ the ~~U.S. dollar. Assets and liabilities denominated in currencies other than the U.S. dollar are translated into U.S. dollars at the rates in effect at the date of the~~ statements of ~~financial condition~~operations. Income and expense items denominated in currencies other than the U.S. dollar are translated into U.S. dollars at the rates in effect during the period. Gains and losses resulting from the translation to U.S. dollars are reported in income currently. G. Capital Accounts The Partnership offers two Series of Interests. The Series A Interests are available to all qualified investors, subject to applicable conditions and restrictions. The Series B Interests are available for sale to the General Partner and its principals. The Partnership accounts for subscriptions, allocations and redemptions on a per partner capital account basis. Income or loss, prior to the Management Fee, Selling Agent Administrative and Service Fee and General Partner Profit Share allocation, is allocated pro rata to the capital accounts of all partners. Each Series A Limited Partner is then charged their applicable Management Fee and Selling Agent Administrative and Service Fee. The General Partner Profit Share allocation applicable to each Series A Limited Partner is then allocated to the General Partner’s capital account from the Series A Limited Partner’s capital account at the end of each calendar year or upon redemption by a Series A Limited Partner.

F-98

AIS FUTURES FUND IV L.P. NOTES TO FINANCIAL STATEMENTS (CONTINUED) ____________________

~~NOTES~~Note TO1. ~~FINANCIAL~~ORGANIZATION ~~STATEMENTS~~AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

~~_______________~~ E. Income Taxes

~~Note~~ The 1Partnership prepares and files calendar year U.S. ~~ORGANIZATION~~and ~~AND~~applicable ~~SUMMARY~~state OFinformation ~~SIGNIFICANT~~tax ~~ACCOUNTING~~returns ~~POLICIES~~and ~~(CONTINUED)~~reports to the partners their allocable shares of the Partnership’s income, expenses and trading gains or losses. No provision for income taxes has been made in these financial statements as each partner is individually responsible for reporting income or loss based on its respective share of the Partnership’s income and expenses as reported for income tax purposes. The 2010 through 2013 tax years generally remain subject to examination by U.S. federal and most state tax authorities.

H The Partnership applies the provisions of Codification Topic 740, Income Taxes, which prescribe the minimum recognition threshold a tax position must meet in connection with accounting for uncertainties in income tax positions taken or expected to be taken by an entity before being measured and recognized in the financial statements. ~~Redemptions~~This accounting standard requires the evaluation of tax positions taken or expected to be taken in the course of preparing the Partnership’s financial statements to determine whether the tax positions are “more-likely-than-not” of being sustained by the applicable tax authority. Tax positions with respect to tax at the Partnership level not deemed to meet the “more-likely-than-not” threshold would be recorded as a tax expense in the current year. The Partnership has elected an accounting policy to classify interest and penalties, if any, as interest expense. The General Partner has concluded there is no tax expense or interest expense related to uncertainties in income tax positions for the years ended December 31, 2013 and 2012.

~~Limited Partners may require the Partnership to redeem some or all of their capital upon ten days prior written notice~~ F. Foreign ~~The~~Currency ~~ten days prior written notice may be waived at the discretion of the General Partner. Partner redemptions are recorded on their effective date, which is generally the last day of the month.~~Transactions

I The Partnership’s functional currency is the U.S. ~~Recently~~dollar; ~~Issued~~however, ~~Accounting~~it ~~Pronouncements~~transacts business in currencies other than the U.S. dollar. Assets and liabilities denominated in currencies other than the U.S. dollar are translated into U.S. dollars at the rates in effect at the date of the statements of financial condition. Income and expense items denominated in currencies other than the U.S. dollar are translated into U.S. dollars at the rates in effect during the period. Gains and losses resulting from the translation to U.S. dollars are reported in income currently.

~~In May 2011, the FASB issued Accounting Standards Update No~~ G. Capital 2011-04 (ASU 2011-04) entitled Fair Value Measurement (Topic 820) – Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRSs. ASU 2011-04 was issued to converge fair value measurement and disclosure guidance in U.S. GAAP with the guidance in the International Accounting Standards Board’s currently issued International Financial Reporting Standards (IFRS) 13, Fair Value Measurement. The amendments in ASU 2011-04 generally represent clarification to the Fair Value Measurements and Disclosures Topic of the Codification, but also include some instances where a particular principle or requirement for measuring fair value or disclosing information about fair value measurements has changed. ASU 2011-04 is effective for interim and annual reporting periods beginning after December 15, 2011. The adoption of ASU 2011-04 did not have a material impact on the Partnership’s financial statements.Accounts

In The ~~December~~Partnership ~~2011,~~offers ~~the~~three ~~FASB~~Series ~~issued~~of ~~Accounting Standards Update No~~Interests. ~~2011-11~~The ~~(ASU~~Series ~~2011-11),~~A ~~entitled~~Interests ~~Balance~~are ~~Sheet~~available ~~(Topic~~to ~~210)~~all –qualified ~~Disclosures~~investors, ~~about~~subject ~~Offsetting~~to ~~Assets~~applicable conditions and ~~Liabilities~~restrictions. ~~ASU~~Series ~~2011-11~~A ~~enhances~~Interests ~~current~~pay ~~disclosures~~a ~~about~~management ~~financial~~fee ~~instruments~~ and ~~derivative~~Selling ~~instruments~~Agent ~~that~~Administrative ~~are~~and ~~either~~Service ~~offset~~Fee on(“Service ~~the~~Fee”) ~~statement~~and ofare ~~financial condition or~~ subject to anthe ~~enforceable~~General ~~master~~Partner ~~netting~~Profit ~~arrangement~~Share orallocation. ~~similar~~The ~~agreement,~~Series ~~irrespective~~B ofInterests ~~whether~~are ~~they~~available ~~are~~for ~~offset~~sale onto the ~~statement~~General ofPartner ~~financial~~and ~~condition~~its principals. ~~Entities~~Series B Interests are ~~required~~not tocharged ~~provide~~a ~~both~~management ~~net~~fee and ~~gross~~Service ~~information~~Fee ~~for~~and ~~these~~are ~~assets~~not ~~and~~subject ~~liabilities~~to inthe ~~order~~General toPartner ~~facilitate~~Profit ~~comparability~~Share ~~between~~allocation. ~~financial~~Effective ~~statements~~January ~~prepared~~14, on2013, the ~~basis~~Partnership ofbegan ~~U.S.~~offering ~~GAAP~~Series ~~and~~C ~~financial~~Interests ~~statements~~to ~~prepared~~eligible oninvestors ~~the~~that ~~basis~~are ofnot ~~IFRS.~~solicited ~~ASU~~by ~~2011-11~~Selling isAgents, ~~effective~~subject ~~for~~to ~~annual~~applicable ~~reporting~~conditions ~~periods~~and ~~beginning~~restrictions. onThe orSeries ~~after~~C ~~January~~Interests 1,have ~~2013,~~the ~~and~~same ~~interim~~rights ~~periods~~and ~~within~~obligations ~~those~~as ~~annual~~Series ~~periods.~~A ~~The~~Interests, ~~Partnership~~except isSeries ~~currently~~C ~~evaluating~~Interests ~~the~~are ~~impact~~not ~~that~~subject ~~ASU~~to ~~2011-11~~the ~~will~~Service ~~have,~~Fee ~~however,~~and noare ~~material~~charged ~~impact~~a onmonthly ~~the~~Management ~~Partnership’s~~Fee ~~financial~~as ~~statements~~described isin ~~anticipated~~Note 2.

~~Note 2. GENERAL PARTNER~~ F-9

~~The General Partner and commodity trading advisor of the Partnership is~~ AIS ~~Futures~~FUTURES ~~Management~~FUND ~~LLC,~~IV ~~which~~L.P. ~~conducts~~NOTES ~~and~~TO ~~manages~~FINANCIAL ~~the~~STATEMENTS ~~business~~(CONTINUED) ~~and trading activities of the Partnership.~~____________________

~~The~~Note ~~Limited Partnership Agreement provides for the General Partner to receive a monthly Management Fee equal to~~ 1~~/12 of 2% (2% annually) of each Series A Limited Partner’s month-end Net Assets, as defined~~. ~~The~~ORGANIZATION ~~General~~AND ~~Partner~~SUMMARY ~~also~~OF ~~receives~~SIGNIFICANT aACCOUNTING ~~Profit~~POLICIES ~~Share allocation equal to 20% of any New Trading Profit, as defined, attributable to each Series A Limited Partner’s Interest achieved as of each calendar year-end or upon redemption.~~(CONTINUED)

~~F-10~~ G. Capital Accounts (continued)

~~AIS~~ The ~~FUTURES~~Partnership ~~FUND~~accounts IVfor Lsubscriptions, allocations and redemptions on a per partner capital account basis.P Income or loss, prior to the Management Fee, Service Fee and General Partner Profit Share allocation, is allocated pro rata to the capital accounts of all partners. Each Limited Partner is then charged their applicable Management Fee and Service Fee. The General Partner Profit Share allocation applicable to each Limited Partner is then allocated to the General Partner’s capital account from the Limited Partner’s capital account at the end of each calendar year or upon redemption by a Limited Partner.

~~NOTES TO FINANCIAL STATEMENTS (CONTINUED)~~ H. Redemptions

~~_______________~~ Limited Partners may require the Partnership to redeem some or all of their capital upon ten days prior written notice. The ten days prior written notice may be waived at the discretion of the General Partner. Partner redemptions are recorded on their effective date, which is generally the last day of the month.

~~Note 2~~ I. Recently ~~GENERAL~~Issued ~~PARTNER~~Accounting ~~(CONTINUED)~~Pronouncements

~~During~~ In ~~2012~~December ~~and~~2011, the FASB issued Accounting Standards Update No. 2011-11 (ASU 2011-11), ~~certain~~entitled ~~Series~~Balance ASheet ~~Limited~~(Topic ~~Partners~~210) ~~were~~– ~~charged~~Disclosures ~~Management~~about ~~Fees~~Offsetting atAssets aand ~~rate~~Liabilities. ~~lower~~ASU ~~than~~2011-11 ~~described~~enhances ~~above,~~current todisclosures about financial instruments and derivative instruments that are either offset on the ~~effect~~statement of financial condition or subject to an enforceable master netting arrangement or similar agreement, irrespective of whether they are offset on the ~~additional~~statement 1of financial condition.5% ~~per~~Entities ~~annum~~are ~~Selling~~required ~~Agent~~to ~~Administrative~~provide both net and ~~Service~~gross ~~Fee~~information ~~described~~for these assets and liabilities in ~~Note~~order 3.to ~~Accordingly,~~facilitate ~~for~~comparability ~~the~~between ~~years~~financial ~~ended~~statements ~~December~~prepared ~~31,~~on ~~2012~~the basis of U.S. GAAP and ~~2011,~~financial ~~Management~~statements ~~Fees~~prepared ~~were~~on ~~reduced~~the bybasis ~~approximately~~of ~~$27,400~~International ~~and~~Financial ~~$37,820,~~Reporting ~~respectively~~Standards.

~~Note~~ In 3January 2013, the FASB issued Accounting Standards Update No. ~~SELLING~~2013-01 ~~AGENT~~(ASU ~~ADMINISTRATIVE~~2013-01), ~~AND~~entitled ~~SERVICE~~Clarifying ~~FEES~~the Scope of Disclosures about Offsetting Assets and Liabilities, which provided that ASU 2011-11 applies only to derivatives, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending transactions that are either offset in accordance with specific criteria contained in the Codification or that are subject to a master netting agreement or similar agreement. ASU 2011-11 and ASU 2013-01 are effective for annual reporting periods beginning on or after January 1, 2013, and interim periods within those annual periods, with required disclosures, presented retrospectively, for all comparative periods presented.

~~Certain~~ The ~~Series~~Partnership’s Aadoption ~~Limited Partners that were solicited by Selling Agents are charged a Selling Agent Administrative and Service Fee (the Service Fee) equal to 1/12~~ of ~~2.5%~~ASU ~~(2.5% annually) of each Series A Limited Partner’s month~~2011-~~end~~11 ~~Net~~and ~~Assets,~~ASU ~~as defined, sold by them which remain outstanding as of each month~~2013-~~end.~~01 ~~The~~had ~~Selling~~no ~~Agents~~material ~~may~~impact ~~pass~~ on ~~a portion of~~ the ~~Service~~Partnership’s ~~Fee~~financial ~~to its investment executives~~statements. InSee ~~the~~Note ~~event the Service Fee is no longer payable to a Selling Agent, the relevant Limited Partner who was solicited by such Selling Agent will no longer be charged the Service Fee~~8. ~~For the years ended December 31~~Derivatives, ~~2012~~for ~~and~~disclosures ~~2011,~~required ~~certain~~pursuant ~~Limited Partners were not subject~~ to the ~~Service~~Partnership’s ~~Fee.~~adoption ~~The~~of ~~Service~~ASU ~~Fee~~2011-11 ~~is accrued~~ and ~~expensed~~ASU ~~as incurred~~2013-01.

~~For~~ In ~~investment~~June ~~executives~~2013, ~~associated~~the ~~with~~FASB ~~the~~issued ~~sale~~Accounting ofStandards ~~Series~~Update ANo. ~~Limited~~2013-08 ~~Partnership~~(ASU ~~Interests~~2013-08), inentitled ~~excess~~Financial ofServices ~~$500~~– Investment Companies (Topic 946) – Amendments to the Scope,~~000~~ Measurement, and Disclosure Requirements. ASU 2013-08 changes the ~~investment~~approach ~~executive’s~~to ~~firm~~assessing ~~will~~whether ~~receive~~an entity is an ~~additional~~investment ~~1.5%~~company, ~~per~~clarifies ~~annum~~the ~~Service~~characteristics ~~Fee~~of ~~with~~an ~~respect~~investment tocompany ~~such~~and ~~Series~~provides Acomprehensive ~~Limited~~guidance ~~Partnership~~for ~~Interests~~assessing inwhether ~~excess~~an ofentity ~~$500~~is an investment company. In addition,~~000,~~ ~~for~~ASU ~~the~~2013-08 ~~first~~requires ~~twelve~~non-controlling ~~months~~ownership ~~following~~interests ~~the~~in ~~sale~~other ofinvestment ~~such~~companies ~~Series~~to Abe ~~Limited~~measured ~~Partnership~~at ~~Interests.~~fair ~~The~~value and requires additional ~~Service~~disclosures ~~Fee~~about isthe ~~paid~~investment bycompany’s ~~the~~status ~~Partnership,~~as ~~however,~~an ~~the~~investment ~~General~~company. ~~Partner~~ASU ~~reduces~~2013-08 ~~its~~is ~~Management~~effective ~~Fee~~for ~~(see~~interim ~~Note~~and ~~2.)~~annual ~~related~~reporting toperiods ~~the~~in ~~Series~~fiscal Ayears ~~Limited~~beginning ~~Partner’s~~after ~~Interest.~~December ~~Accordingly~~15, ~~this~~2013. ~~additional~~The ~~Service~~Partnership ~~Fee~~is ~~does~~currently ~~not~~evaluating ~~affect~~ the ~~total~~impact ~~fees~~ASU ~~charged~~2013-08 towill have; however, no material impact on the ~~Series~~Partnership’s Afinancial ~~Limited~~statements ~~Partner~~is anticipated.

~~Note 4. SUBSCRIPTIONS, DISTRIBUTIONS AND REDEMPTIONS~~F-10

~~Investments~~AIS inFUTURES ~~the~~FUND ~~Partnership~~IV ~~are made by subscription agreement, subject to acceptance by the General Partner~~L. ~~A selling commission of up to 2% of the subscription amount may be deducted from the subscription proceeds and paid to the applicable Selling Agent, if any~~P. ~~For~~NOTES ~~the~~TO ~~years~~FINANCIAL ~~ended~~STATEMENTS December 31, 2012 and 2011, selling commissions of $1,000 and $0 were charged to Series A Limited Partners, respectively. Series A Limited Partner subscriptions, as presented in the statements of changes in partners’ capital (~~net asset value~~CONTINUED), ~~are net of such selling commissions, if any.~~____________________

~~The~~Note ~~Partnership is not required to make distributions, but may do so at the sole discretion of the General Partner~~2. AGENERAL Limited Partner may request and receive partial or full redemption of their capital account as of the close of business on the last business day of any month, subject to restrictions in the Limited Partnership Agreement.PARTNER

~~Note~~ Effective 5September 2013, AIS Capital Management, L.P. ~~DEPOSITS~~became ~~WITH~~the ~~FUTURES~~General ~~BROKERS~~Partner and commodity trading advisor of the Partnership, which conducts and manages the business and trading activities of the Partnership. AIS Futures Management LLC, the former General Partner, merged with and into AIS Capital Management, L.P.

~~The~~ On ~~Partnership~~August ~~deposits~~31, ~~funds~~2013, ~~with~~AIS ~~Newedge~~Futures ~~USA,~~Management LLC ~~and~~withdrew ~~ADM~~its ~~Investor~~entire ~~Services,~~interest ~~Inc.~~in ~~subject~~the toPartnership. ~~Commodity~~In ~~Futures~~lieu ~~Trading~~of ~~Commission~~distributing ~~regulations~~cash ~~and~~proceeds, ~~various~~capital ~~exchange~~subscriptions ~~and~~were ~~futures~~made, ~~broker~~effective ~~requirements.~~August ~~Margin~~31, ~~requirements~~2013, ~~are~~to ~~satisfied by~~ the ~~deposit~~accounts of ~~U.S.~~certain ~~government~~Series ~~securities~~B ~~and~~limited ~~cash~~partners ~~with~~who ~~such~~are ~~futures~~principals ~~brokers.~~of ~~Accordingly,~~the ~~assets~~General ~~used~~Partner. toThis ~~meet~~full ~~margin~~withdrawal ~~and~~by ~~other~~AIS ~~futures~~Futures ~~broker~~Management orLLC ~~regulatory~~did ~~requirements~~not ~~are~~affect ~~partially~~its ~~restricted.~~role ~~The~~as ~~Partnership~~the ~~earns~~General ~~interest~~Partner ~~income~~of onthe ~~its~~Partnership, ~~assets~~as ~~deposited~~set ~~with~~forth in the ~~futures~~Limited ~~brokers~~Partnership Agreement.

F The Limited Partnership Agreement provides for the General Partner to receive a monthly Management Fee equal to 1/12 of 2% (2% annually) of each Series A Limited Partner’s month-11end Net Assets, as defined and 1/12 of 2.7% (2.7% annually) of each Series C Limited Partner’s month-end Net Assets, as defined. The General Partner also receives a Profit Share allocation equal to 20% of any New Trading Profit, as defined, attributable to each Series A and C Limited Partner’s Interest achieved as of each calendar year-end or upon redemption. During the year ended December 31, 2013, the Management Fees charged to Series A and Series C Limited Partners were $1,096,782 and $3,351, respectively. As there were no Series C Limited Partners during the year ended December 31, 2012, the entire amount of Management Fees charged during that year relate to Series A Limited Partners.

~~AIS~~ During ~~FUTURES~~2013 ~~FUND~~and IV2012, Lcertain Series A Limited Partners were charged Management Fees at a rate lower than described above, to offset the effect of the additional 1.P5% per annum Selling Agent Administrative and Service Fee described in Note 3. Accordingly, for the years ended December 31, 2013 and 2012, Management Fees were reduced by approximately $16,100 and $27,400, respectively.

~~NOTES~~Note TO3. ~~FINANCIAL~~SELLING ~~STATEMENTS~~AGENT ~~(CONTINUED)~~ADMINISTRATIVE AND SERVICE FEES

~~_______________~~ Certain Series A Limited Partners that were solicited by Selling Agents are charged a Service Fee equal to 1/12 of 2.5% (2.5% annually) of each Series A Limited Partner’s month-end Net Assets, as defined, sold by them which remain outstanding as of each month-end. The Selling Agents may pass on a portion of the Service Fee to its investment executives. The Service Fee is accrued and expensed as incurred.

~~Note 6. DEPOSITS WITH SECURITIES BROKER~~ F-11

~~The~~AIS ~~Partnership~~FUTURES ~~deposits~~FUND ~~cash~~IV ~~and U~~L.SP. ~~government~~NOTES ~~securities~~TO ~~with~~FINANCIAL ~~Wells~~STATEMENTS ~~Fargo~~(CONTINUED) Advisors, LLC, subject to Securities and Exchange Commission regulations and securities broker requirements. Margin requirements are satisfied by the deposit of cash and securities with such securities broker. Accordingly, assets used to meet margin and other securities broker or regulatory requirements are partially restricted. The Partnership earns interest income on its assets deposited with the securities broker. On December 30, 2011, the Partnership purchased U.S. Treasury Bills for $10,497,556. Such purchase created a cash deficit at securities broker of $10,497,556. Such deficit was paid by the Partnership on January 3, 2012 with cash held at an affiliate of the securities broker. The fair value of the Partnership’s U.S. Treasury Bills held at the securities broker totaled $48,986,396 and $55,493,813 at December 31, 2012 and 2011, respectively.____________________

Note 73. ~~FAIR~~SELLING ~~VALUE~~AGENT ADMINISTRATIVE AND SERVICE FEES (CONTINUED)

~~Fair~~ In ~~value, as defined in~~ the ~~Fair~~event ~~Value Measurements and Disclosures Topic of~~ the ~~Codification,~~Service Fee is ~~the~~no ~~price~~longer ~~that~~payable ~~would be received~~ to ~~sell an asset or paid to transfer~~ a ~~liability~~Selling inAgent, anthe ~~orderly~~relevant ~~transaction~~Series ~~between~~A Limited ~~market~~Partner ~~participants~~who atwas ~~the~~solicited ~~measurement~~by ~~date.~~such ~~The~~Selling ~~fair~~Agent ~~value~~will ~~hierarchy,~~no aslonger ~~set~~be ~~forth~~charged in the ~~Fair~~Service ~~Value~~Fee ~~Measurements~~ and ~~Disclosures~~such ~~Topic~~Series ofA ~~the~~Interests ~~Codification,~~may ~~prioritizes~~be ~~the~~transferred ~~inputs~~ to ~~valuation~~Series ~~techniques~~C ~~used~~Interests. toDuring ~~measure~~the ~~fair~~year ~~value~~ended ~~into~~December ~~three~~31, ~~broad~~2013, ~~levels:~~there ~~quoted~~were ~~market~~$186,349 ~~prices~~ in ~~active~~transfers ~~markets~~to ~~for~~Series ~~identical~~C ~~assets~~Interests orfrom ~~liabilities~~Series ~~(Level~~A ~~1);~~Interests ~~inputs~~which ~~other~~occurred ~~than~~in ~~quoted~~relation ~~market~~to ~~prices~~Series ~~that~~A ~~are~~Limited ~~observable~~Partners ~~for~~that ~~the~~were ~~asset~~no orlonger ~~liability,~~subject ~~either directly or indirectly (Level 2); and unobservable inputs for an asset or liability (Level 3). If the inputs used~~ to ~~measure~~ a ~~financial~~Service ~~instrument~~Fee. ~~fall~~For ~~within different levels of~~ the ~~fair~~years ~~value~~ended ~~hierarchy~~December 31, ~~the~~2013 ~~categorization~~and ~~is based on the lowest level input that is significant to the measurement of that financial instrument. The Partnership recognizes transfers between fair value hierarchy levels~~2012, ifcertain ~~any,~~Series atA ~~the~~Limited ~~beginning~~Partners ~~of the reporting period. There~~ were nonot ~~transfers~~subject ~~between~~to ~~levels during~~ the ~~years~~Service ~~ended December 31, 2012 and 2011~~Fee.

For ~~U.S.~~investment ~~government~~executives ~~securities,~~associated ~~which~~with ~~are~~the ~~categorized~~sale asof ~~Level~~Series 2A ~~fair~~Limited ~~value~~Partnership ~~measurements~~Interests atin ~~December~~excess 31of $500,000, ~~2012~~the ~~and~~investment ~~2011~~executive’s firm will receive an additional 1.5% per annum Service Fee with respect to such Series A Limited Partnership Interests in excess of $500,000, ~~fair~~for ~~value~~the first twelve months following the sale of such Series A Limited Partnership Interests. The additional Service Fee is ~~determined~~paid asby ~~cost~~the ~~plus~~Partnership, ~~accrued~~however, ~~interest~~the General Partner reduces its Management Fee (see Note 2.) related to the Series A Limited Partner’s Interest. Accordingly, ~~which~~this ~~represents~~additional anService ~~income~~Fee ~~approach~~does not affect the total fees charged to ~~fair~~the ~~value~~Series ~~measurement~~A Limited Partner.

~~The~~Note ~~following~~4. ~~tables summarize the Partnership’s assets and liabilities accounted for at fair value at December 31~~SUBSCRIPTIONS, ~~2012~~DISTRIBUTIONS ~~and~~AND ~~2011 using the fair value hierarchy. Fair value is presented on a gross basis even though certain assets and liabilities qualify for net presentation in the statement of financial condition.~~REDEMPTIONS

	December 31, 2012
Description	Level 1			Level 2		Level 3		Total
Assets
Futures contracts(1)	$	1,751,596		$	0	$	0	$	1,751,596
U.S. Treasury bills		0			60,984,852		0		60,984,852
Total assets	$	1,751,596		$	60,984,852	$	0	$	62,736,448
Liabilities
Futures contracts(1)	$	(4,947,845	)	$	0	$	0	$	(4,947,845	)

Investments in the Partnership are made by subscription agreement, subject to acceptance by the General Partner. A selling commission of up to 2% of the subscription amount may be deducted from the subscription proceeds and paid to the applicable Selling Agent, if any. For the years ended December 31, 2013 and 2012, selling commissions of $0 and $1,000 were charged to Series A Limited Partners, respectively. Series A Limited Partner subscriptions, as presented in the statements of changes in partners’ capital (net asset value), are net of such selling commissions, if any.

~~(1)~~ The ~~See~~Partnership ~~Note~~is 8.not ~~for~~required to make distributions, but may do so at the ~~fair~~sole ~~value~~discretion of ~~each~~the ~~type~~General Partner. A Limited Partner may request and receive partial or full redemption of ~~contract~~their ~~within~~capital ~~this~~account ~~category~~as of the close of business on the last business day of any month, subject to restrictions in the Limited Partnership Agreement.

~~F-12~~Note 5. DEPOSITS WITH FUTURES BROKERS

~~AIS~~ The ~~FUTURES~~Partnership ~~FUND~~deposits IVfunds Lwith Newedge USA, LLC and ADM Investor Services, Inc.P subject to Commodity Futures Trading Commission regulations and various exchange and futures broker requirements. Margin requirements are satisfied by the deposit of U.S. government securities and cash with such futures brokers. Accordingly, assets used to meet margin and other futures broker or regulatory requirements are partially restricted. The Partnership earns interest income on its assets deposited with the futures brokers.

~~NOTES TO FINANCIAL STATEMENTS (CONTINUED)~~F-12

~~_______________~~AIS FUTURES FUND IV L.P. NOTES TO FINANCIAL STATEMENTS (CONTINUED) ____________________

Note 76. ~~FAIR~~DEPOSITS ~~VALUE~~WITH ~~(CONTINUED)~~SECURITIES BROKER

	December 31, 2011
Description	Level 1			Level 2		Level 3		Total
Assets
Futures contracts(1)	$	3,301,639		$	0	$	0	$	3,301,639
U.S. Treasury bills		0			69,491,612		0		69,491,612
Total assets	$	3,301,639		$	69,491,612	$	0	$	72,793,251
Liabilities
Futures contracts(1)	$	(1,878,719	)	$	0	$	0	$	(1,878,719	)

The Partnership deposits cash and U.S. government securities with Wells Fargo Advisors, LLC, subject to Securities and Exchange Commission regulations and securities broker requirements. Margin requirements are satisfied by the deposit of cash and securities with such securities broker. Accordingly, assets used to meet margin and other securities broker or regulatory requirements are partially restricted. The Partnership earns interest income on its assets deposited with the securities broker. The fair value of the Partnership’s U.S. Treasury Bills held at the securities broker totaled $31,994,040 and $48,986,396 at December 31, 2013 and 2012, respectively.

Note 87. ~~DERIVATIVES~~FAIR VALUE

~~The~~ Fair ~~Partnership~~value, ~~engages~~as defined in the ~~speculative~~Fair ~~trading~~Value Measurement Topic of ~~futures~~the ~~contracts~~Codification, ~~and~~is ~~options~~the onprice ~~futures~~that ~~contracts~~would ~~(collectively,~~be ~~derivatives)~~received ~~for~~to ~~the~~sell ~~purpose~~an ofasset ~~achieving~~or ~~capital~~paid ~~appreciation.~~to ~~None~~transfer ofa ~~the~~liability ~~Partnership’s~~in ~~derivative~~an ~~instruments~~orderly ~~are~~transaction ~~designated~~between asmarket ~~hedging~~participants ~~instruments~~at the measurement date. The fair value hierarchy, as ~~defined~~set forth in the ~~Derivatives~~Fair ~~and~~Value ~~Hedging~~ Measurement Topic of the Codification, ~~nor~~prioritizes ~~are~~the ~~they~~inputs to valuation techniques used ~~for~~to ~~other~~measure ~~risk~~fair ~~management~~value ~~purposes.~~into ~~The~~three ~~General~~broad ~~Partner~~levels: ~~actively~~quoted ~~assesses,~~market ~~manages~~prices ~~and~~in ~~monitors~~active ~~risk~~markets ~~exposure~~for onidentical ~~derivatives~~assets onor aliabilities ~~contract~~(Level ~~basis,~~1); ainputs ~~sector~~other ~~basis~~than ~~(e.g.,~~quoted ~~agricultural,~~market ~~currencies,~~prices ~~metals~~that are observable for the asset or liability, ~~etc.~~either directly or indirectly (Level 2),; and onunobservable inputs for an ~~overall~~asset ~~basis~~or inliability ~~accordance~~(Level ~~with~~3). ~~established~~If ~~risk~~the ~~parameters.~~inputs ~~Due~~used to ~~the~~measure ~~speculative~~a ~~nature~~financial instrument fall within different levels of the ~~Partnership’s~~fair ~~derivative~~value ~~trading activity~~hierarchy, the ~~Partnership~~categorization is ~~subject~~based on the lowest level input that is significant to the ~~risk~~measurement of ~~substantial~~that ~~losses~~financial ~~from~~instrument. ~~derivatives~~The ~~trading~~Partnership recognizes transfers between fair value hierarchy levels, if any, at the beginning of the reporting period. There were no transfers between levels during the years ended December 31, 2013 and 2012.

~~The~~ For ~~following~~U.S. ~~tables~~government ~~present~~securities, ~~the~~which ~~fair~~are ~~value~~categorized ofas ~~derivative~~Level ~~contracts~~2 fair value measurements at December 31, ~~2012~~2013 and ~~2011.~~2012, ~~The~~ fair value ~~of futures contracts~~ is ~~presented~~determined as ancost ~~asset~~plus ifaccrued ininterest, awhich ~~gain~~represents ~~position~~an ~~and~~income aapproach ~~liability~~to iffair ~~in a loss position. Fair~~ value ~~is presented on a gross basis even though certain assets and liabilities qualify for net presentation in the statements of financial condition~~measurement.

	December 31, 2012
Futures Contracts	Assets		Liabilities			Net
Agricultural	$	75,410	$	(1,910,237	)	$	(1,834,827	)
Currencies		770,520		(298,925	)		471,595
Energy		720,459		(22,624	)		697,835
Metals		185,207		(2,716,059	)		(2,530,852	)
Total	$	1,751,596	$	(4,947,845	)	$	(3,196,249	)

	F-13

	December 31, 2011
Futures Contracts	Assets		Liabilities			Net
Agricultural	$	1,732,665	$	0		$	1,732,665
Currencies		735,374		0			735,374
Energy		833,600		(26,486	)		807,114
Metals		0		(1,852,233	)		(1,852,233	)
Total	$	3,301,639	$	(1,878,719	)	$	1,422,920

AIS FUTURES FUND IV L.P.

NOTES TO FINANCIAL STATEMENTS (CONTINUED)

____________________

~~Within~~Note ~~the~~7. ~~statements~~FAIR ofVALUE ~~financial condition, the fair value of futures contracts is reflected as unrealized gain~~ (~~loss~~CONTINUED) ~~on open futures contracts, net.~~

~~(1)~~ The ~~See~~following ~~Note~~tables 8.summarize the Partnership’s assets and liabilities accounted for at fair value at December 31, 2013 and 2012 using the fair value ofhierarchy. ~~each~~Fair ~~type~~value ofis ~~contract~~presented ~~within~~on ~~this~~a ~~category~~gross basis even though certain assets and liabilities qualify for net presentation in the statements of financial condition.

F-13

	December 31, 2013
Description	Level 1		Level 2		Level 3		Total

Assets
Futures contracts
Agricultural	$	150,603	$	0	$	0	$	150,603
Energy		63,435		0		0		63,435
Interest rates		490,611		0		0		490,611
Metals		212,254		0		0		212,254

Total futures contracts		916,903		0		0		916,903

U.S. Treasury bills		0		40,493,221		0		40,493,221

Total assets	$	916,903	$	40,493,221	$	0	$	41,410,124

Liabilities
Futures contracts
Agricultural	$	(206,693)	$	0	$	0	$	(206,693)
Currencies		(331,125)		0		0		(331,125)
Energy		(162,954)		0		0		(162,954)
Metals		(807,863)		0		0		(807,863)

Total liabilities	$	(1,508,635)	$	0	$	0	$	(1,508,635)

	December 31, 2012
Description	Level 1		Level 2		Level 3		Total

Assets
Futures contracts
Agricultural	$	75,410	$	0	$	0	$	75,410
Currencies		770,520		0		0		770,520
Energy		720,459		0		0		720,459
Metals		185,207		0		0		185,207

Total futures contracts		1,751,596		0		0		1,751,596

U.S. Treasury bills		0		60,984,852		0		60,984,852

Total assets	$	1,751,596	$	60,984,852	$	0	$	62,736,448

Liabilities
Futures contracts
Agricultural	$	(1,910,237)	$	0	$	0	$	(1,910,237)
Currencies		(298,925)		0		0		(298,925)
Energy		(22,624)		0		0		(22,624)
Metals		(2,716,059)		0		0		(2,716,059)

Total liabilities	$	(4,947,845)	$	0	$	0	$	(4,947,845)

~~AIS FUTURES FUND IV L.P.~~F-14

AIS FUTURES FUND IV L.P. NOTES TO FINANCIAL STATEMENTS (CONTINUED) ____________________

~~_______________~~Note 8. DERIVATIVES

~~Note~~ The 8Partnership engages in the speculative trading of futures contracts and options on futures contracts (collectively, derivatives) for the purpose of achieving capital appreciation. None ~~DERIVATIVES~~of the Partnership’s derivative instruments are designated as hedging instruments, as defined in the Derivatives and Hedging Topic of the Codification, nor are they used for other risk management purposes. The General Partner actively assesses, manages and monitors risk exposure on derivatives on a contract basis, a sector basis (~~CONTINUED~~e.g., agricultural, currencies, metals, etc.), and on an overall basis in accordance with established risk parameters. Due to the speculative nature of the Partnership’s derivative trading activity, the Partnership is subject to the risk of substantial losses from derivatives trading.

The ~~following presents the~~ Partnership’s ~~derivative~~derivatives ~~trading~~held ~~results~~at December 31, 2013 and ~~information~~2012 ~~related~~are subject to ~~the~~agreements ~~volume~~similar ofto master netting agreements with the Partnership’s ~~derivative~~futures ~~activity~~brokers ~~for~~which grant the ~~years~~futures ~~ended~~brokers ~~December~~the ~~31,~~right ~~2012~~to set off recognized assets and ~~2011~~liabilities if certain conditions exist. The ~~below~~following ~~captions~~tables ofpresent ~~“Realized”~~gross ~~and~~amounts ~~“Change~~of inassets ~~Unrealized”~~and ~~correspond~~liabilities towhich ~~the~~are ~~captions~~offset in the statements of ~~operations~~financial condition.

	Year Ended December 31, 2012										Year Ended December 31, 2011
	Offsetting of Derivative Assets and Liabilities
	Trading Gains (Losses)										Trading Gains (Losses)
	at December 31, 2013
					Change in				Number of					Change in			Number of
				Gross Amounts			Net Amounts
Futures Contracts	Realized				Unrealized				Contracts Closed		Realized			Unrealized			Contracts Closed
				Offset in the			Presented in the
Agricultural	$	12,495,489			$	(3,567,492	)			5,441	$	(48,893	)	$	(4,647,892	)		4,114
	Gross Amounts of			Statement of			Statement of
Currencies		3,530,956				(263,779	)			2,173		1,164,710			(749,626	)		2,478
Assets	Recognized Assets			Financial Condition			Financial Condition
Energy		(1,793,247	)			(109,279	)			5,355		(1,143,062	)		(465,558	)		6,462
Futures contracts(1)
Interest rates		0				0				0		(3,765,878	)		(677,415	)		1,333
Newedge USA, LLC	$	766,300		$	(766,300)		$	0
Metals		998,677				(678,619	)			1,561		9,458,652			(5,545,405	)		2,195
ADM Investor Services, Inc.		150,603			(150,603)			0
Stock index		0				0				0		4,884,412			0			768
Total assets	$	916,903		$	(916,903)		$	0
Total futures contracts		15,231,875				(4,619,169	)					10,549,941			(12,085,896	)
Options on Futures Contracts
Stock index		(189,625	)			0				715		0			0			0
Total	$	15,042,250			$	(4,619,169	)				$	10,549,941		$	(12,085,896	)

The number of contracts closed represents the number of contracts closed during the years ended December 31, 2012 and 2011 in the applicable category.

			Gross Amounts		Net Amounts
			Offset in the		Presented in the
	Gross Amounts of		Statement of		Statement of
Liabilities	Recognized Liabilities		Financial Condition		Financial Condition

Futures contracts⁽¹⁾
Newedge USA, LLC	$	(1,301,942)	$	766,300	$	(535,642)
ADM Investor Services, Inc.		(206,693)		150,603		(56,090)

Total liabilities	$	(1,508,635)	$	916,903	$	(591,732)

(1) See Note 97. ~~MARKET~~for ~~AND~~the ~~CREDIT~~fair ~~RISKS~~value of each type of contract within this category.

The Partnership engages in the speculative trading of futures contracts and options on futures contracts. The Partnership is exposed to both market risk, the risk arising from changes in the fair value of the contracts, and credit risk, the risk of failure by another party to perform according to the terms of a contract.F-15

~~Purchase~~AIS ~~and~~FUTURES ~~sale~~FUND ofIV ~~futures and options on futures contracts requires margin deposits with the futures brokers~~L. ~~Additional deposits may be necessary for any loss on contract fair value~~P. ~~The~~NOTES ~~Commodity~~TO ~~Exchange~~FINANCIAL ~~Act~~STATEMENTS ~~requires a futures 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~~CONTINUED) deposited with a futures broker are considered commingled with all other customer funds subject to the futures broker’s segregation requirements. In the event of a futures 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. The fair value of the Partnership’s assets deposited with Newedge USA, LLC and ADM Investor Services, Inc. is $11,998,348 and $4,521,533, respectively, at December 31, 2012, and $16,813,283 and $0, respectively, at December 31, 2011.____________________

~~F-14~~Note 8. DERIVATIVES (CONTINUED)

AIS FUTURES FUND IV L.P.

		Offsetting of Derivative Assets and Liabilities
		at December 31, 2012
			Gross Amounts		Net Amounts
			Offset in the		Presented in the
	Gross Amounts of		Statement of		Statement of
Assets	Recognized Assets		Financial Condition		Financial Condition

Futures contracts⁽¹⁾
Newedge USA, LLC	$	1,676,186	$	(1,676,186)	$	0
ADM Investor Services, Inc.		75,410		(75,410)		0

Total assets	$	1,751,596	$	(1,751,596)	$	0

NOTES TO FINANCIAL STATEMENTS (CONTINUED)

			Gross Amounts		Net Amounts
			Offset in the		Presented in the
	Gross Amounts of		Statement of		Statement of
Liabilities	Recognized Liabilities		Financial Condition		Financial Condition

Futures contracts⁽¹⁾
Newedge USA, LLC	$	(3,037,608)	$	1,676,186	$	(1,361,422)
ADM Investor Services, Inc.		(1,910,237)		75,410		(1,834,827)

Total liabilities	$	(4,947,845)	$	1,751,596	$	(3,196,249)

Within the statements of financial condition, the fair value of futures contracts is included in net unrealized (loss) on open futures contracts. The cash and other property (for example, U.S. Treasury bills) held by each counterparty at December 31, 2013 and 2012 exceeds the net derivatives liability at such counterparty.

The following presents the Partnership’s derivative trading results and information related to the volume of the Partnership’s derivative activity for the years ended December 31, 2013 and 2012. The below captions of “Realized” and “Change in Unrealized” correspond to the captions in the statements of operations.

_______________

	Year Ended December 31, 2013						Year Ended December 31, 2012
	Trading Gains (Losses)						Trading Gains (Losses)
			Change in		Number of				Change in		Number of
Futures Contracts	Realized		Unrealized		Contracts Closed		Realized		Unrealized		Contracts Closed

Agricultural	$	(5,233,458)	$	1,778,737		4,005	$	12,495,489	$	(3,567,492)	5,441
Currencies		248,118		(802,720)		1,795		3,530,956		(263,779)	2,173
Energy		3,398,159		(797,354)		4,312		(1,793,247)		(109,279)	5,355
Interest rates		(288,348)		490,611		581		0		0	0
Metals		(12,192,340)		1,935,243		1,633		998,677		(678,619)	1,561
Stock index		(3,862,661)		0		1,793		0		0	0
Total futures contracts		(17,930,530)		2,604,517				15,231,875		(4,619,169)

Options on Futures Contracts

Stock index		(99,000)		0		220		(189,625)		0	715
Total	$	(18,029,530)	$	2,604,517			$	15,042,250	$	(4,619,169)

~~Note~~ The 9.number ~~MARKET~~of ~~AND~~contracts ~~CREDIT~~closed ~~RISKS~~represents ~~(CONTINUED)~~the number of contracts closed during the years ended December 31, 2013 and 2012 in the applicable category.

~~For~~ (1) See ~~futures~~Note ~~contracts~~7. ~~and~~for ~~options on futures contracts, risks arise from changes in~~ the fair value of ~~the~~each ~~contracts.~~type ~~Theoretically, the Partnership is exposed to a market risk equal to the notional contract value~~ of futures contracts purchased and unlimited liability on such contracts sold short. As both a buyer and seller of options, the Partnership pays or receives a premium at the outset and then bears the risk of unfavorable changes in the price of the contract ~~underlying~~within ~~the~~this ~~option~~category. ~~Written options expose the Partnership to potentially unlimited liability, and purchased options expose the Partnership to a risk of loss limited to the premiums paid.~~

The Partnership has a substantial portion of its assets on deposit with the securities broker in connection with its trading of U.S. government securities and its cash management activities. In the event of the securities broker’s insolvency, recovery of Partnership assets on deposit may be limited to account insurance or other protection afforded such deposits. F-16

~~The~~AIS ~~Partnership~~FUTURES ~~maintains~~FUND ~~its~~IV ~~cash in bank deposit accounts at Wells Fargo Bank, N~~L.AP. ~~and~~NOTES ~~affiliates.~~TO ~~Such~~FINANCIAL ~~accounts~~STATEMENTS ~~may,~~(CONTINUED) at times, exceed federally insured limits. In the event of a financial institution’s insolvency, recovery of cash on deposit may be limited to account insurance or other protection afforded such deposits.____________________

~~The~~Note ~~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~~9. ~~The~~MARKET ~~Limited~~AND ~~Partners~~CREDIT ~~bear the risk of loss only to the extent of the fair value of their respective investments and, in certain specific circumstances, distributions and redemptions received.~~RISKS

~~Note~~ The 10Partnership engages in the speculative trading of futures contracts and options on futures contracts. ~~INDEMNIFICATIONS~~The Partnership is exposed to both market risk, the risk arising from changes in the fair value of the contracts, and credit risk, the risk of failure by another party to perform according to the terms of a contract.

In Purchase ~~the~~and ~~normal~~sale ~~course~~ of ~~business,~~futures ~~the~~and ~~Partnership~~options ~~enters~~on ~~into~~futures contracts ~~and~~requires ~~agreements~~margin ~~that~~deposits ~~contain~~with the futures brokers. Additional deposits may be necessary for any loss on contract fair value. The Commodity Exchange Act requires a ~~variety~~futures ofbroker ~~representations~~to segregate all customer transactions and ~~warranties~~assets from such broker’s proprietary activities. A customer’s cash and ~~which~~other ~~provide~~property ~~general~~(for ~~indemnifications~~example, U.S. ~~The~~Treasury ~~Partnership~~bills) deposited with a futures broker are considered commingled with all other customer funds subject to the futures broker’s ~~maximum~~segregation ~~exposure~~requirements. ~~under~~In ~~these~~the ~~arrangements~~event isof ~~unknown~~a futures broker’s insolvency, asrecovery ~~this~~may ~~would~~be ~~involve~~limited ~~future~~to ~~claims~~a pro rata share of segregated funds available. It is possible that ~~may~~the recovered amount could be ~~made~~less ~~against~~than total cash and other property deposited. The net fair value of the Partnership’s ~~that~~assets ~~have~~deposited ~~not~~with ~~yet~~Newedge ~~occurred~~USA, LLC and ADM Investor Services, Inc. ~~The~~is ~~Partnership~~$8,210,562 ~~expects~~and ~~the~~$3,537,365, ~~risk~~respectively, ofat ~~any~~December ~~future~~31, ~~obligation~~2013, and $11,998,348 ~~under~~and ~~these~~$4,521,533, ~~indemnifications~~respectively, toat beDecember ~~remote~~31, 2012.

~~Note~~ For 11futures contracts and options on futures contracts, risks arise from changes in the fair value of the contracts. ~~SUBSEQUENT~~Theoretically, ~~EVENTS~~the Partnership is exposed to a market risk equal to the notional contract value of futures contracts purchased and unlimited liability on such contracts sold short. As both a buyer and seller of options, the Partnership pays or receives a premium at the outset and then bears the risk of unfavorable changes in the price of the contract underlying the option. Written options expose the Partnership to potentially unlimited liability, and purchased options expose the Partnership to a risk of loss limited to the premiums paid.

~~Effective~~ The ~~January~~Partnership ~~14,~~has ~~2013,~~a ~~the~~substantial ~~Partnership~~portion ~~began~~of ~~offering~~its ~~Series~~assets Con ~~Interests~~deposit towith ~~eligible~~the ~~investors~~securities ~~that~~broker ~~are~~in ~~not~~connection ~~solicited~~with byits ~~Selling~~trading ~~Agents,~~of ~~subject~~U.S. togovernment ~~applicable~~securities ~~conditions~~ and ~~restrictions.~~its ~~The~~cash ~~Series~~management Cactivities. ~~Interests~~In ~~will have~~ the ~~same~~event ~~rights~~of ~~and~~the ~~obligations~~securities asbroker’s ~~Series A Interests~~insolvency, ~~except~~recovery ~~Series~~of CPartnership ~~Interests~~assets ~~will~~on ~~not~~deposit may be ~~subject~~limited to ~~the~~account ~~Service~~insurance ~~Fee~~or ~~and~~other ~~will~~protection beafforded ~~charged~~such ~~a monthly Management Fee of 1/12 of 2~~deposits.~~7% (2.7% annually) of month-end net assets, as defined.~~

~~F-15~~ The Partnership maintains its cash in bank deposit accounts at Wells Fargo Bank, N.A. and affiliates. Such accounts may, at times, exceed federally insured limits. In the event of a financial institution’s insolvency, recovery of cash on deposit may be limited to account insurance or other protection afforded such deposits.

~~AIS~~ The ~~FUTURES~~General ~~FUND~~Partner IVhas Lestablished 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.P The Limited Partners bear the risk of loss only to the extent of the fair value of their respective investments and, in certain specific circumstances, distributions and redemptions received.

~~NOTES~~Note TO10. ~~FINANCIAL STATEMENTS (CONTINUED)~~INDEMNIFICATIONS

~~_______________~~ In the normal course of business, the Partnership enters into contracts and agreements that contain a variety of representations and warranties and which provide general indemnifications. The Partnership’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Partnership that have not yet occurred. The Partnership expects the risk of any future obligation under these indemnifications to be remote.

~~Note 12. FINANCIAL HIGHLIGHTS~~ F-17

~~The~~AIS ~~following~~FUTURES ~~information~~FUND ~~presents~~IV ~~the financial highlights for Series A Limited Partners of the Partnership for the years ended December 31, 2012 and 2011~~L.P. ~~This~~NOTES ~~information~~TO ~~has~~FINANCIAL ~~been~~STATEMENTS ~~derived~~(CONTINUED) ~~from information presented in the financial statements.~~____________________

	2012			2011
Total return for Series A Limited Partners taken as a whole
Total return before General Partner Profit Share allocation		8.88	%		(11.91	)%
General Partner Profit Share allocation(1)		0.11	%		1.90	%
Total return after General Partner Profit Share allocation		8.99	%		(10.01	)%
Supplemental Data for Series A Limited Partners
Ratios to average net asset value:(2)
Expenses, excluding General Partner Profit Share allocation		4.66	%		4.60	%
General Partner Profit Share allocation		0.13	%		0.46	%
Total expenses		4.79	%		5.06	%
Net investment (loss)(3)		(4.57	)%		(4.47	)%

Note 11.

FINANCIAL HIGHLIGHTS

The ~~total~~following ~~returns~~information ~~and~~presents ~~ratios~~the ~~are~~financial ~~presented~~highlights for Series A and C Limited Partners ~~taken~~of asthe aPartnership ~~whole.~~for Anthe ~~individual~~years ~~Limited~~ended ~~Partner’s~~December ~~total~~31, ~~returns~~2013 and ~~ratios~~2012. ~~may~~This ~~vary~~information ~~from~~has ~~the~~been ~~above~~derived ~~total~~from ~~returns~~information ~~and~~presented ~~ratios~~in ~~based on~~ the ~~timing~~financial ~~of their subscriptions and redemptions and different fee arrangements for certain Series A Limited Partners~~statements.

The total returns and ratios exclude the effects of any 2% upfront selling commissions charged by Selling Agents.

	2013				2012
	Series A		Series C		Series A
Total return for Series A and C Limited Partners taken as a whole

Total return before General Partner Profit Share allocation	(27.47)	%	(26.25)	%	8.88	%
General Partner Profit Share allocation⁽¹⁾	0.08	%	0.09	%	0.11	%

Total return after General Partner Profit Share allocation	(27.39)	%	(26.16)	%	8.99	%

Supplemental Data for Series A and C Limited Partners

Ratios to average net asset value:⁽²⁾
Expenses, excluding General Partner Profit Share allocation	4.54	%	2.93	%	4.66	%
General Partner Profit Share allocation	0.00	%	0.00	%	0.13	%

Total expenses	4.54	%	2.93	%	4.79	%

Net investment (loss)⁽³⁾	(4.47)	%	(2.86)	%	(4.57)	%

~~(1)~~ The ~~positive~~total ~~effect~~returns onand ~~the~~ratios ~~2012~~are presented for Series A and ~~2011~~C ~~total~~Limited ~~return~~Partners bytaken ~~the~~as ~~General~~a whole. An individual Limited Partner’s ~~Profit~~total ~~Share~~returns ~~allocation~~and isratios ~~due~~may tovary afrom ~~significant~~the ~~reversal~~above oftotal returns and ratios based on the ~~allocation~~timing ~~during~~of ~~each~~their ~~year~~subscriptions and redemptions and different fee arrangements for certain Limited Partners.

~~(2)~~ The ~~ratios~~total ofreturns ~~expenses~~ and ~~net~~ratios ~~investment~~exclude ~~(loss)~~the toeffects ~~average~~of ~~net~~any ~~asset~~2% ~~value~~upfront doselling ~~not~~commissions ~~include~~charged ~~brokerage~~by ~~commissions~~Selling Agents.

~~(3) The net investment (loss) is comprised of interest income less total expenses, excluding brokerage commissions and the General Partner Profit Share allocation.~~ ______________________________________________________

F-16

⁽¹⁾	The positive effect on the 2013 and 2012 total return by the General Partner Profit Share allocation is due to a significant reversal of the allocation during each year.
⁽²⁾	The ratios of expenses and net investment (loss) to average net asset value do not include brokerage commissions.
⁽³⁾	The net investment (loss) is comprised of interest income less total expenses, excluding brokerage commissions and the General Partner Profit Share allocation.

	F-18

Name and Address

Value of Interests held

Percentage Ownership

City of Meriden Police and Fire Fund H

142 East Main Street

Meriden, CT 06108

$4,893,633

City of Meriden Employees Fund M

142 East Main Street

Meriden, CT 06108

$5,587,107

Filing Compare · AIS FUTURES FUND IV LP