SUMMARIZED FINANCIAL INFORMATION
The following three financial statements (i.e. the Statement of Financial
Condition of Capital Appreciation Plus L.P. I (the "Partnership") at March
31, 1996 and at December 31, 1995, and the Statement of Operations for
the three months ended March 31, 1996 and 1995, and the Statement of
Changes in Partners'Capital for the three months ended March 31, 1996
and 1995, in the opinion of management, include all adjustments
(consisting of normal recurring accruals) necessary for a fair
presentation of the financial position and the results of operations for
the periods indicated. Information as of March 31, 1996 and 1995 is
unaudited. It is recommended that these financial statements are read
in conjunction with the audited financial statements and notes thereto
included in the Partnership's annual report on Form 10-K for the year
ended December 31, 1995 (the "1995 Form 10-K"). These results are not
necessarily indicative of results for a full year.
CAPITAL APPRECIATION PLUS L.P. I
STATEMENT OF FINANCIAL CONDITION
(Unaudited) (Audited)
March 31, December 31,
1996 1995
ASSETS:
Equity in commodities futures
trading account: $ 86,979 $ 62,067
Cash 6,798 6,964
Interest receivable 686 133
Fee rebates receivable 5,704 0
TOTAL ASSETS $ 100,167 $ 69,164
LIABILITIES AND PARTNERS' CAPITAL
LIABILITIES:
Accrued custodian/service fees 500 1,500
Accrued fixed rate fee 437 2,459
Administration fee payable 2,035 14,397
Redemptions payable 0 1,022
TOTAL LIABILITIES $ 2,972 $ 19,378
PARTNERS' CAPITAL
General Partner 19,983 10,406
(500 Units outstanding)
Limited Partners 77,212 39,380
(1932 and 1945 Units
outstanding at 3/31/96 and
12/31/95 respectively)
TOTAL PARTNERS' CAPITAL 97,195 49,786
TOTAL LIABILITIES AND $ 100,167 $ 69,164
PARTNERS' CAPITAL
NET ASSET VALUE PER UNIT $ 39.97 $ 20.45
CAPITAL APPRECIATION PLUS L.P. I
STATEMENT OF OPERATIONS
(UNAUDITED)
Three Months Ended
March 31, March 31,
1996 1995
REVENUES:
Gains (losses) on trading futures contracts
and options on futures:
Realized gains (losses) on closed positions $ 26,716 $ 14,779
Net change in unrealized gains (losses) 20,606 (29,899)
Net realized and unrealized gains (losses) $ 47,322 $ (15,120)
Interest Income 807 1,305
Total Revenue $ 48,129 $ (13,815)
EXPENSES
Miscellaneous fees (2,119) 1,737
Custodial and Administrative Fees 3,500 4,500
Execution Fees 437 1,060
Management Fees (1,475) 1,590
Total Expenses $ 343 $ 8,887
Net Income (loss) $ 47,786 $ (22,702)
Net Income (loss) per weighted average unit
of partnership interest $ 19.59 $ (7.99)
CAPITAL APPRECIATION PLUS L.P. I
STATEMENT OF CHANGES IN PARTNERS' CAPITAL
FOR THE PERIOD FROM JANUARY 1, 1996 TO MARCH 31, 1996
AND FOR THE PERIOD FROM JANUARY 1, 1995 TO MARCH 31, 1995
Units of (Unaudited)
Partnership Limited General Total
Interest Partners Partner
Partners' Capital 2,445 $39,380 $10,406 $49,786
January 1, 1996
Net Income $37,991 $ 9,795 $47,786
Redemptions (13) $ (377) $ (377)
Partners' Capital 2,432 $76,994 $20,201 $97,195
March 31, 1996
Partners' Capital
January 1, 1995 2,853 $187,209 $39,816 $227,025
Net Income $(18,656) $(4,046) $(22,702)
Redemptions (49) $( 3,498) $( 3,498)
Partners' Capital
March 31, 1995 2,804 $165,055 $35,770 $200,825
MANAGEMENT'S DISCUSSION AND ANALYSIS OF
RESULTS OF OPERATIONS AND FINANCIAL CONDITION
RESULTS OF OPERATIONS
Total assets of the Partnership at March 31, 1996 were approximately
$100,167, an increase from the December 31, 1995 level due to trading
profits exceeding the payment of accrued expenses. Partnership capital
likewise increased proportionately.
Operating results during the Partnership's first quarter of 1996 were
favorable with net profits of $47,786. The operating results reflect
a net trading profit of approximately $47,322 and interest income of
approximately $807. As a result, the Net Asset Value of a Unit of
Limited Partnership Interest increased $19.52 per Unit from operations
during the three month period ended March 31, 1996, achieving a Net
Asset Value of $39.97 per Unit as of March 31, 1996.
Part II
OTHER INFORMATION
Item 1 Legal Proceeding
none
Item 2 Changes in Securities
not applicable
Item 3 Defaults upon senior securities
not applicable
Item 4 Submission of matters to a vote of security holders
not applicable
Item 5 Other information
none
Item 6 Exhibits and reports on Form 8-K
(a) Exhibits: none
(b) Reports on Form 8-K: none
SIGNATURES
Pursuant to the requirements 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.
Registrant
By: Lamborn Commodity Pool
Management, Inc.
The General Partner
Date: May 15, 1996 BY: George D. F. Lamborn
President
The General Partner, which signed above, is the only party authorized
to act for the registrant. The registrant has no principal financial
officer or chief accounting officer.
