Frontier Long/Short Commodity Fund 424B3 Prospectus supplement

Filed Pursuant to Rule 424(b)(3)
Registration No. 333-185695

equinoxfunds.com   c/o Phoenix American Financial Services, Inc.   2401 Kerner Boulevard San Rafael, CA 94901 P 1.877.837.0600 Opt #2 F 415.485.4553

May 2016 Performance Update

Equinox Frontier Funds Supplement Dated May 31, 2016 to Prospectus Dated April 29, 2016.

Equinox Frontier Funds Class 2

EQUINOX FRONTIER FUNDS’ GOAL : To provide you – the investor – with a managed futures product that, over the long term, provides attractive returns, reduces volatility, and improves the overall performance of your investment portfolio.

May performance for the Equinox Frontier Funds is detailed below:*

Equinox Frontier Funds Class 2	May 31, 2016 MTD			May 31, 2016 YTD			NAV / Unit
Equinox Frontier Diversified Fund-2		0.44	%		0.03	%	$	129.63
Equinox Frontier Long/Short Commodity Fund-2a		-1.18	%		0.78	%	$	107.01
Equinox Frontier Masters Fund-2		-3.23	%		-2.52	%	$	123.41

Additional information, including monthly rates of return, concerning the aforementioned Funds and the Trading Advisor(s) is contained in the Prospectus and the respective Fund’s Appendix to the Prospectus.

* The above table sets forth the actual performance of the Fund and Class as of May 31, 2016. Actual gross trading performance (gross realized and unrealized gain/loss before deduction for trading commissions and fees, management fees, any other expense, and before addition of interest income) is adjusted for the trading expenses, management fees, initial service fees, on-going service fees, and interest income of the applicable Fund.

THIS INSERT MUST BE ACCOMPANIED OR PRECEDED BY THE CURRENT PROSPECTUS OF EQUINOX FRONTIER FUNDS

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS

EQUINOX FRONTIER DIVERSIFIED FUND - Class 2

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

May 31, 2016

(Unaudited)

	Current Period
INCOME
Realized trading gain (loss)	$	(94,903.74	)
Unrealized trading gain (loss)		469,099.80
Less: Commissions		(31,812.67	)
Less: Trading Fee paid to Managing Owner		(74,046.00	)
Interest income		25,874.49
Total Income		294,211.88
EXPENSES
Broker service fees		7,809.39
Incentive fees		81,399.50
Management fees		46,159.94
Total Expenses		135,368.83
Net Income (Loss)	$	158,843.05

Statement of Changes in Net Asset Value

	Units			Dollars			$’s per unit
Net asset value, beginning of month		275,568.48166		$	35,565,679.33		$	129.06
Current month additions		1,742.11381			225,826.57
Current month redemptions		(2,672.81169	)		(349,168.67	)
Net income (loss) for current month					158,843.05			0.57
Net asset value, end of current month		274,637.78378		$	35,601,180.28		$	129.63
Monthly rate of return								0.44	%

To the best of my knowledge and belief, the information

contained in this statement is accurate and complete

/s/ Vance Sanders

Vance Sanders, Chief Financial Officer of the Managing Owner

Equinox Fund Management LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

EQUINOX FRONTIER DIVERSIFIED FUND - Class 2

EQUINOX FRONTIER LONG/SHORT COMMODITY FUND - Class 2a

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

May 31, 2016

(Unaudited)

	Current Period
INCOME
Realized trading gain (loss)	$	(6,088.91	)
Unrealized trading gain (loss)		(4,028.84	)
Less: Commissions		(111.02	)
Less: Trading Fee paid to Managing Owner		(2,427.53	)
Interest income		548.55
Total Income		(12,107.75	)
EXPENSES
Broker service fees		256.04
Incentive fees		0.00
Management fees		1,018.54
Total Expenses		1,274.58
Net Income (Loss)	$	(13,382.33	)

Statement of Changes in Net Asset Value

	Units			Dollars			$’s per unit
Net asset value, beginning of month		10,920.21875		$	1,182,567.14		$	108.29
Current month additions		0.00000			0.00
Current month redemptions		(292.78952	)		(31,932.69	)
Net income (loss) for current month					(13,382.33	)		(1.28	)
Net asset value, end of current month		10,627.42923		$	1,137,252.12		$	107.01
Monthly rate of return								-1.18	%

To the best of my knowledge and belief, the information

contained in this statement is accurate and complete

/s/ Vance Sanders

Vance Sanders, Chief Financial Officer of the Managing Owner

Equinox Fund Management LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

EQUINOX FRONTIER LONG/SHORT COMMODITY FUND - Class 2a

EQUINOX FRONTIER MASTERS FUND - Class 2

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

May 31, 2016

(Unaudited)

	Current Period
INCOME
Realized trading gain (loss)	$	(137,093.52	)
Unrealized trading gain (loss)		(34,482.23	)
Less: Commissions		(2,360.68	)
Less: Trading Fee paid to Managing Owner		(12,581.81	)
Interest income		3,400.10
Total Income		(183,118.14	)
EXPENSES
Broker service fees		1,327.01
Incentive fees		0.00
Management fees		13,659.06
Total Expenses		14,986.07
Net Income (Loss)	$	(198,104.21	)

Statement of Changes in Net Asset Value

	Units			Dollars			$’s per unit
Net asset value, beginning of month		48,448.79148		$	6,178,421.49		$	127.52
Current month additions		202.21037			25,000.00
Current month redemptions		(491.23663	)		(61,885.96	)
Net income (loss) for current month					(198,104.21	)		(4.11	)
Net asset value, end of current month		48,159.76522		$	5,943,431.31		$	123.41
Monthly rate of return								-3.23	%

To the best of my knowledge and belief, the information

contained in this statement is accurate and complete

/s/ Vance Sanders

Vance Sanders, Chief Financial Officer of the Managing Owner

Equinox Fund Management LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

EQUINOX FRONTIER MASTERS FUND - Class 2

EQUINOX FRONTIER DIVERSIFIED FUND

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

May 31, 2016

(Unaudited)

	Current Period
INCOME
Realized trading gain (loss)	$	(148,779.18	)
Unrealized trading gain (loss)		735,802.47
Less: Commissions		(50,099.46	)
Less: Trading Fee paid to Managing Owner		(116,579.10	)
Interest income		40,736.33
Total Income		461,081.06
EXPENSES
Trading fees		0.00
Broker service fees		21,777.11
Incentive fees		128,043.38
Management fees		72,675.13
Total Expenses		222,495.62
Net Income (Loss)	$	238,585.44

Statement of Changes in Net Asset Value

	Units			Dollars			Aggregate Net Asset Value per unit*
Net asset value, beginning of month		450,279.30984		$	56,070,182.62		$	124.52
Current month additions		7,626.59833			934,298.08
Current month redemptions		(10,841.67221	)		(1,299,400.03	)
Net income (loss) for current month					238,585.44			0.62
Net asset value, end of current month		447,064.23596		$	55,943,666.10		$	125.14
Monthly rate of return								0.49	%

* Please see your specific Class Statement of Income (Loss) for your specific unit value.

To the best of my knowledge and belief, the information

contained in this statement is accurate and complete

/s/ Vance Sanders

Vance Sanders, Chief Financial Officer of the Managing Owner

Equinox Fund Management LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

On Behalf of the Frontier Fund - EQUINOX FRONTIER DIVERSIFIED FUND

EQUINOX FRONTIER LONG/SHORT COMMODITY FUND

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

May 31, 2016

(Unaudited)

	Current Period
INCOME
Realized trading gain (loss)	$	(51,496.71	)
Unrealized trading gain (loss)		(53,376.41	)
Less: Commissions		(937.96	)
Less: Trading Fee paid to Managing Owner		(15,555.51	)
Interest income		4,640.35
Total Income		(116,726.24	)
EXPENSES
Trading fees		0.00
Broker service fees		6,460.36
Incentive fees		0.00
Management fees		10,926.87
Total Expenses		17,387.23
Net Income (Loss)	$	(134,113.47	)

Statement of Changes in Net Asset Value

	Units			Dollars			Aggregate Net Asset Value per unit*
Net asset value, beginning of month		103,985.86791		$	11,966,670.95		$	115.08
Current month additions		0.00000			0.00
Current month redemptions		(2,748.20160	)		(294,547.22	)
Net income (loss) for current month					(134,113.46	)		(1.11	)
Net asset value, end of current month		101,237.66631		$	11,538,010.27		$	113.97
Monthly rate of return								-0.96	%

* Please see your specific Class Statement of Income (Loss) for your specific unit value.

To the best of my knowledge and belief, the information

contained in this statement is accurate and complete

/s/ Vance Sanders

Vance Sanders, Chief Financial Officer of the Managing Owner

Equinox Fund Management LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

On Behalf of the Frontier Fund - EQUINOX FRONTIER LONG/SHORT COMMODITY FUND

EQUINOX FRONTIER MASTERS FUND

STATEMENT OF INCOME (LOSS)

FOR THE MONTH ENDED

May 31, 2016

(Unaudited)

	Current Period
INCOME
Realized trading gain (loss)	$	(435,669.90	)
Unrealized trading gain (loss)		(107,923.67	)
Less: Commissions		(7,461.29	)
Less: Trading Fee paid to Managing Owner		(39,768.42	)
Interest income		10,751.98
Total Income		(580,071.30	)
EXPENSES
Trading fees		0.00
Broker service fees		12,635.95
Incentive fees		0.00
Management fees		43,173.36
Total Expenses		55,809.31
Net Income (Loss)	$	(635,880.61	)

Statement of Changes in Net Asset Value

	Units			Dollars			Aggregate Net Asset Value per unit*
Net asset value, beginning of month		164,162.81237		$	19,568,399.97		$	119.20
Current month additions		1,892.29534			223,916.74
Current month redemptions		(3,943.70259	)		(451,701.05	)
Net income (loss) for current month					(635,880.61	)		(3.82	)
Net asset value, end of current month		162,111.40512		$	18,704,735.05		$	115.38
Monthly rate of return								-3.20	%

* Please see your specific Class Statement of Income (Loss) for your specific unit value.

To the best of my knowledge and belief, the information

contained in this statement is accurate and complete

/s/ Vance Sanders

Vance Sanders, Chief Financial Officer of the Managing Owner Equinox Fund Management LLC

1775 Sherman Street, Suite 2500

Denver, Colorado 80203

On Behalf of the Frontier Fund - EQUINOX FRONTIER MASTERS FUND