Third Street Ag Investments, LLC : Fundamental Discretionary Ag

Year-to-Date
1.68%
Aug Performance
-0.19%
Min Investment
$ 500k
Mgmt. Fee
0.75%
Perf. Fee
20.00%
Annualized Vol
5.08%
Sharpe (RFR=1%)
0.30
CAROR
2.41%
Assets
$ 58.4M
Worst DD
-8.98
S&P Correlation
-0.11

Growth of 1,000 - VAMI

Monthly Performance

Export Data
Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD DD

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial.

Period Returns

Program / Index Aug Qtr YTD 1yr 3yr 5yr 10yr Since
8/2012
Fundamental Discretionary Ag -0.19 0.03 1.68 1.60 0.30 3.01 - 18.34
S&P 500 -1.81 6.34 16.73 0.85 33.43 44.59 - 105.94
+/- S&P 500 1.62 -6.31 -15.05 0.75 -33.13 -41.58 - -87.60

Strategy Description

Summary

Third Street AG Investments, LLC is a fundamental, discretionary trader of exchange listed grain and soy futures and options. The Chief Trading Officer, Chad Burlet, has been an active and successful trader of the grain markets for over 30 years, including nine with Cargill and seven... Read More

Account & Fees

Type
Managed Account
Minimum Investment
$ 500k
Trading Level Incremental Increase
$ 500k
CTA Max Funding Factor
5.00
Management Fee
0.75%
Performance Fee
20.00%
Average Commission
$4.00
Available to US Investors
Yes

Subscriptions

High Water Mark
Yes
Subscription Frequency
Daily
Redemption Frequency
Daily
Investor Requirements
QEP
Lock-up Period
0

Trading

Trading Frequency
1000 RT/YR/$M
Avg. Margin-to-Equity
3%
Targeted Worst DD
-3.00%
Worst Peak-to-Trough
8.97%
Sector Focus
Agricultural Traders

Holding Periods

Over 12 Months
0%
4-12 Months
5.00%
1-3 Months
25.00%
1-30 Days
65.00%
Intraday
5.00%

Decision-Making

Discretionary
100.00%
Systematic
0%

Strategy

Fundamental
100.00%
Strategy Pie Chart

Composition

Grains
100.00%
Composition Pie Chart

Summary

Third Street AG Investments, LLC is a fundamental, discretionary trader of exchange listed grain and soy futures and options. The Chief Trading Officer, Chad Burlet, has been an active and successful trader of the grain markets for over 30 years, including nine with Cargill and seven with Goldman Sachs. His experience, knowledge of worldwide soy and grain economics, and his extensive network of contacts all contribute to his analysis of the markets, and ultimately to his trading decisions. Spreads, both intra and inter, commodity make up a large part of the firm’s positions.

Investment Strategy

The foundation of fundamental agricultural trading lies in understanding the worldwide economics of grain production, transportation, processing and consumption. We believe that with this knowledge we can and will be able to develop a clear understanding of the trade flows and market aberrations which should naturally occur over time. From our market experience it is our opinion that temporary price dislocations will be created when any one group of market participant (hedgers, investors, speculators etc.) enters the market in an unbalanced fashion. Furthermore we believe that those market dislocations will always become unsustainable over time. Fundamental Discretionary Ag focuses as a strategy on our ability to identify those dislocations and our ability to determine reasonable time frames for their correction. This knowledge should give us the opportunity to capitalize on anticipated price movements on a relatively consistent basis. Our trading is purely discretionary and based nearly entirely on fundamental market factors. We utilize a limited amount of technical analysis to enter and exit positions; this however will not be a primary trading ideal within the strategy.

Risk Management

Bob Otter, the firm’s C.O.O., manages risk for the firm. As a member of the Chicago Board of Trade since 1975, and until 2012 an active soy and grain trader, he is very aware of the proper risk management techniques of a successful trading operation. Various industry standard metrics are used by Otter to monitor and control risk. We believe that simple common sense risk management tools are the best. Monitoring margin to equity and the bottom line every day come first. We also use risk rules call the “One-Two-Three Rules”. A loss of 1% in any given day will trigger a discussion about what caused the loss, and possible action. A 2% one day loss requires that we take action to either reduce or eliminate the losing position(s). A loss of 3% over any five day period will cause us to liquidate all positions. We will then take a multi day pause to question our understanding of the current market economics, or of our timing of position placement, or both.

   

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial.

Reward
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Sharpe Ratio: (RF=1%)
Skewness:
Kurtosis:
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Compound RoR:
Average RoR:
Max Gain:
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Average Gain:
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Risk
Standard Deviation:
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Sharpe Ratio: (RF=1%)
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Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial.

Note: Figures shown in the Monthly column are the greatest figures (or worst for losses/drawdowns) for any particular month. The Annual figures are the greatest for any calendar year.

Drawdown Report

Depth Length (Mos.) Recovery (Mos.) Peak Valley
-8.98 8 4 9/1/2013 5/1/2014
-7.19 3 - 9/1/2014 12/1/2014
-1.64 6 4 11/1/2012 5/1/2013
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Consecutive Gains

Run-up Length (Mos.) Start End
15.59 4 8/1/2012 11/1/2012
14.13 4 6/1/2014 9/1/2014
2.17 2 7/1/2015 8/1/2015
2.16 1 1/1/2015 1/1/2015
2.15 4 3/1/2017 6/1/2017
2.01 3 4/1/2019 6/1/2019
1.50 3 1/1/2016 3/1/2016
1.39 1 7/1/2016 7/1/2016
1.38 3 12/1/2017 2/1/2018
1.31 1 9/1/2013 9/1/2013
1.17 2 6/1/2013 7/1/2013
0.95 1 11/1/2015 11/1/2015
0.74 2 7/1/2018 8/1/2018
0.61 1 12/1/2016 12/1/2016
0.48 1 3/1/2015 3/1/2015
0.38 1 1/1/2013 1/1/2013
0.33 1 10/1/2018 10/1/2018
0.21 1 3/1/2013 3/1/2013
0.18 2 12/1/2018 1/1/2019
0.09 1 5/1/2015 5/1/2015
0.07 1 5/1/2016 5/1/2016
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Consecutive Losses

Run-up Length (Mos.) Start End
-8.98 8 10/1/2013 5/1/2014
-7.19 3 10/1/2014 12/1/2014
-2.65 5 7/1/2017 11/1/2017
-2.15 4 8/1/2016 11/1/2016
-1.47 4 3/1/2018 6/1/2018
-1.41 1 12/1/2012 12/1/2012
-1.07 1 2/1/2015 2/1/2015
-0.67 1 4/1/2016 4/1/2016
-0.67 2 4/1/2013 5/1/2013
-0.55 1 4/1/2015 4/1/2015
-0.53 1 6/1/2015 6/1/2015
-0.44 1 6/1/2016 6/1/2016
-0.35 1 9/1/2018 9/1/2018
-0.25 2 2/1/2019 3/1/2019
-0.23 2 7/1/2019 8/1/2019
-0.18 2 9/1/2015 10/1/2015
-0.15 1 2/1/2013 2/1/2013
-0.11 1 12/1/2015 12/1/2015
-0.08 1 11/1/2018 11/1/2018
-0.07 1 8/1/2013 8/1/2013
-0.01 2 1/1/2017 2/1/2017
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Time Windows Analysis

 1 Month3 Month6 Month12 Month18 Month2 Year3 Year4 Year5 Year
Number of Periods85.0083.0080.0074.0068.0062.0050.0038.0026.00
Percent Profitable47.0657.8356.2559.4660.2953.2392.0097.3796.15
Average Period Return0.210.480.610.811.011.802.883.954.63
Average Gain1.191.872.422.612.784.033.244.174.83
Average Loss-0.68-1.43-1.70-1.83-1.68-0.72-1.25-4.06-0.33
Best Period6.0912.5214.3915.0311.4312.2714.3118.2418.73
Worst Period-4.88-7.19-7.22-6.77-8.30-2.63-2.63-4.06-0.33
Standard Deviation1.472.853.243.273.143.453.283.704.44
Gain Standard Deviation1.402.802.852.752.523.383.173.504.41
Loss Standard Deviation0.861.512.011.891.770.621.02
Sharpe Ratio (1%)0.090.080.04-0.06-0.16-0.06-0.05-0.03-0.10
Average Gain / Average Loss1.761.311.421.431.655.582.591.0314.50
Profit / Loss Ratio1.601.801.822.102.516.3529.7538.03362.51
Downside Deviation (10%)1.002.023.195.147.269.1113.2917.9723.40
Downside Deviation (5%)0.821.461.962.172.331.991.832.062.70
Downside Deviation (0%)0.781.341.731.661.520.650.430.660.07
Sortino Ratio (10%)-0.20-0.37-0.58-0.81-0.91-0.93-0.97-0.98-0.98
Sortino Ratio (5%)0.150.160.06-0.09-0.21-0.10-0.08-0.05-0.17
Sortino Ratio (0%)0.270.360.350.490.662.796.646.0170.90

Top Performer Badges

Index Award Type Rank Performance Period
Agricultural Trader Index Month 7 0.26 6/2019
Agricultural Trader Index Month 8 0.79 4/2019
Agricultural Trader Index Month 8 0.79 4/2019
Agricultural Trader Index Month 10 -0.12 2/2019
Agricultural Trader Index Month 10 -0.12 2/2019
Agricultural Trader Index Month 10 -0.12 2/2019
Agricultural Trader Index Month 7 0.15 1/2019
Agricultural Trader Index Month 7 0.03 12/2018
Agricultural Trader Index Month 10 -0.08 11/2018
Agricultural Trader Index Month 9 0.14 4/2017
Agricultural Trader Index Month 7 0.95 3/2017
Agricultural Trader Index Month 10 0.64 12/2016
Agricultural Trader Index Month 8 1.39 7/2016
Agricultural Trader Index Month 9 0.45 3/2016
Agricultural Trader Index Month 7 0.63 1/2016
Agricultural Trader Index Month 7 0.95 11/2015
Agricultural Trader Index Month 7 0.90 8/2015
Agricultural Trader Index Month 7 2.16 1/2015
Agricultural Trader Index Month 7 5.30 9/2014
Agricultural Trader Index Month 7 2.33 8/2014
Agricultural Trader Index Month 9 1.32 9/2013
Agricultural Trader Index Month 8 0.12 3/2013
Discretionary Trader Index Month 9 2.73 11/2012
Agricultural Trader Index Month 2 2.73 11/2012
Agricultural Trader Index Month 3 3.38 10/2012
Agricultural Trader Index Month 3 2.59 9/2012
Agricultural Trader Index Month 4 6.09 8/2012
Discretionary Trader Index Month 10 6.09 8/2012
Agricultural Trader Index Month 10 0.58 5/2012
Discretionary Trader Index Month 10 4.81 4/2012
Agricultural Trader Index Month 4 4.81 4/2012
Agricultural Trader Index Month 4 2.97 2/2012
Agricultural Trader Index Month 2 8.78 1/2012
Discretionary Trader Index Month 6 8.78 1/2012
Agricultural Trader Index Month 8 2.33 11/2011
Agricultural Trader Index Month 10 2.05 10/2011
Agricultural Trader Index Month 6 0.78 9/2011
Agricultural Trader Index Month 4 11.44 7/2011
Discretionary Trader Index Month 8 11.44 7/2011
Discretionary Trader Index Month 10 3.45 5/2011
Agricultural Trader Index Month 2 3.45 5/2011
Agricultural Trader Index Month 5 5.08 4/2011
Agricultural Trader Index Month 6 5.22 3/2011
Agricultural Trader Index Month 10 3.58 2/2011
IASG CTA Index Month 5 11.16 1/2011
Agricultural Trader Index Month 2 11.16 1/2011
Discretionary Trader Index Month 4 11.16 1/2011
Agricultural Trader Index Month 4 17.57 12/2010
Discretionary Trader Index Month 7 17.57 12/2010
Discretionary Trader Index Month 7 10.90 9/2010
Agricultural Trader Index Month 4 10.90 9/2010
Agricultural Trader Index Month 9 1.46 6/2010
Discretionary Trader Index Month 4 7.41 5/2010
Agricultural Trader Index Month 2 7.41 5/2010
Agricultural Trader Index Month 1 6.06 3/2010
Discretionary Trader Index Month 5 6.06 3/2010
Agricultural Trader Index Month 5 5.14 1/2010
Discretionary Trader Index Month 7 5.14 1/2010
Agricultural Trader Index Month 4 2.30 12/2009
Agricultural Trader Index Month 2 8.50 9/2009
Discretionary Trader Index Month 5 8.50 9/2009
Agricultural Trader Index Month 3 7.89 8/2009
Discretionary Trader Index Month 8 7.89 8/2009
Discretionary Trader Index Month 9 5.92 6/2009
Agricultural Trader Index Month 5 5.92 6/2009
Agricultural Trader Index Month 5 1.39 3/2009
Agricultural Trader Index Month 7 1.84 2/2009
Discretionary Trader Index Month 7 3.83 1/2009
Agricultural Trader Index Month 2 3.83 1/2009

Past performance is not necessarily indicative of future results. The risk of loss in trading commodity futures, options, and foreign exchange ("forex") is substantial.