Typhon Capital Management, LLC : Leonidas Energy Program

Year-to-Date
14.79%
Apr Performance
0.24%
Min Investment
$ 100k
Mgmt. Fee
2.00%
Perf. Fee
20.00%
Annualized Vol
8.63%
Sharpe (RFR=0%)
0.56
CAROR
5.66%
Assets
$ 1.0M
Worst DD
-4.77
S&P Correlation
-0.53

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 Apr Qtr YTD 1yr 3yr 5yr 10yr Since
4/2017
Leonidas Energy Program 0.24 14.00 14.79 16.01 18.99 - - 18.51
S&P 500 12.68 -9.71 -9.85 -1.14 20.91 - - 26.39
+/- S&P 500 -12.44 23.71 24.64 17.15 -1.92 - - -7.87

Strategy Description

Investment Strategy

The Leonidas Energy Strategy is a pure discretionary macro trading strategy managed by George Michalopolous, who was an energy portfolio manager for Citadel Investment Group for six years. Mr. Michalopolous has a unique understanding of global supply and demand dynamics... Read More

Account & Fees

Type Managed Account
Minimum Investment $ 100k
Trading Level Incremental Increase $ 0k
CTA Max Funding Factor
Management Fee 2.00%
Performance Fee 20.00%
Average Commission $0
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 0 RT/YR/$M
Avg. Margin-to-Equity 10%
Targeted Worst DD
Worst Peak-to-Trough
Sector Focus Energy Traders

Holding Periods

Over 12 Months 0%
4-12 Months 0%
1-3 Months 0%
1-30 Days 25.00%
Intraday 75.00%

Decision-Making

Discretionary 100.00%
Systematic 0%

Strategy

Fundamental
100.00%
Strategy Pie Chart

Composition

Energy
100.00%
Composition Pie Chart

Investment Strategy

The Leonidas Energy Strategy is a pure discretionary macro trading strategy managed by George Michalopolous, who was an energy portfolio manager for Citadel Investment Group for six years. Mr. Michalopolous has a unique understanding of global supply and demand dynamics as they relate to WTI, Brent, and Henry Hub natural gas. Because these are physically-delivered contracts, there arises a unique trading advantage for those understanding the fundamental dynamics. Often without taking the risk profile of outright positioning (long/short) in the underlying commodity. This can be expressed in grade differentials, like WTI-BRT, WTI spreads, BRT spreads, and even WTI vs BRT spreads.

   

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
Average RoR:
Max Gain:
Gain Frequency:
Average Gain:
Gain Deviation:
Risk
Standard Deviation:
Worst Loss:
Loss Frequency:
Average Loss:
Loss Deviation:
Reward/Risk
Sharpe Ratio: (RF=1%)
Skewness:
Kurtosis:
Reward
Compound RoR:
Average RoR:
Max Gain:
Gain Frequency:
Average Gain:
Gain Deviation:
Risk
Standard Deviation:
Worst Loss:
Loss Frequency:
Average Loss:
Loss Deviation:
Reward/Risk
Sharpe Ratio: (RF=1%)
Skewness:
Kurtosis:

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
-4.77 16 3 4/1/2017 8/1/2018
-2.30 3 5 12/1/2018 3/1/2019
-1.28 2 2 11/1/2019 1/1/2020
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Consecutive Gains

Run-up Length (Mos.) Start End
14.84 3 2/1/2020 4/1/2020
7.02 4 9/1/2018 12/1/2018
3.42 4 8/1/2019 11/1/2019
2.28 2 4/1/2019 5/1/2019
1.68 1 2/1/2018 2/1/2018
1.26 1 4/1/2018 4/1/2018
0.31 1 2/1/2019 2/1/2019
0.30 1 4/1/2017 4/1/2017
0.25 1 7/1/2018 7/1/2018
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Consecutive Losses

Run-up Length (Mos.) Start End
-3.23 9 5/1/2017 1/1/2018
-2.63 1 3/1/2018 3/1/2018
-1.99 1 1/1/2019 1/1/2019
-1.28 2 12/1/2019 1/1/2020
-1.09 2 5/1/2018 6/1/2018
-1.05 2 6/1/2019 7/1/2019
-1.01 1 8/1/2018 8/1/2018
-0.62 1 3/1/2019 3/1/2019
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Time Windows Analysis

 1 Month3 Month6 Month12 Month18 Month2 Year
Number of Periods37.0035.0032.0026.0020.0014.00
Percent Profitable48.6554.2962.5073.0890.0092.86
Average Period Return0.491.151.693.125.486.39
Average Gain1.723.013.675.306.256.90
Average Loss-0.68-1.06-1.62-2.80-1.44-0.12
Best Period13.7314.8414.7918.3820.3223.03
Worst Period-2.63-2.30-3.22-3.90-1.73-0.12
Standard Deviation2.493.824.115.455.777.08
Gain Standard Deviation3.084.394.014.725.567.10
Loss Standard Deviation0.700.600.841.110.41
Sharpe Ratio (1%)0.160.240.290.390.690.62
Average Gain / Average Loss2.532.832.261.894.3355.65
Profit / Loss Ratio2.403.363.775.1338.94723.45
Downside Deviation (10%)0.921.652.654.384.566.34
Downside Deviation (5%)0.730.971.392.040.950.67
Downside Deviation (0%)0.690.821.111.550.470.03
Sortino Ratio (10%)0.09-0.05-0.29-0.43-0.46-0.61
Sortino Ratio (5%)0.550.930.851.044.186.58
Sortino Ratio (0%)0.711.401.522.0111.77193.08

Top Performer Badges

Index Award Type Rank Performance Period
Discretionary Trader Index Month 4 13.73 3/2020
Discretionary Trader Index Month 10 1.43 8/2019

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