Commodity L/S Program

CountyCork_AgL-S_Program

The COMMODITY L/S Program, or the Commodity Long and Short Managed Futures Program, is a systematic trading system that uses detailed, algorithmic analyses in order initiate and hold long or short futures positions in U.S. grain, livestock, precious metals and energy futures markets. Robert J. O’Brien Jr., utilizing his long experience in the futures industry, developed algorithms that take into consideration cash and futures price movements in order to develop the Commodity L/S Program.

Investment Strategy

The general philosophy of the COMMODITY L/S Program is that the pricing of grain, livestock, precious metals and energy futures are typically tied to what happens in the cash market and that the price action in the derivative futures markets can sometimes be distorted by speculative trading. The program operates under the theory that the price action of the cash market more accurately reflects the reality of supply and demand factors that ultimately determine derivative pricing. With this in mind, the COMMODITY L/S Program monitors and analyzes cash price vs futures price movements in order to generate trading signals.

Risk Management

The COMMODITY L/S Program focuses on futures contracts with substantial open interest and is intended to employ very limited leverage, which should tend to reduce risk and provide significant liquidity during stressful market periods.

Commodity L/S Program at a Glance

  • Program Type: Systematic
  • Minimum Initial Investment: $500K
  • Fee Structure: 1% Management fee, 20% Incentive fee

HYPOTHETICAL PERFORMANCE DATA IS AVAILABLE UPON REQUEST.

YearJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecemberYTD
2019 -4.03% -4.03%
20182.71%-0.90%0.09%0.35%0.23%-1.38%-2.86%-1.77%1.75%-5.27%2.13%8.41%2.91%
2017-3.73%1.19%3.05%0.16%-0.09%-0.37%-0.53%0.53%1.12%1.20%

Note: past performance is not indicative of future results

THE PERFORMANCE SET FORTH ABOVE IS FOR A PROPRIETARY ACCOUNT MAINTAINED BY A PRINCIPAL OF COUNTY CORK TRADED PURSUANT TO THE COMMODITY LONG AND SHORT MANAGED FUTURES PROGRAM, OR THE COMMODITY L/S PROGRAM. THE PERFORMANCE HAS BEEN PRO FORMA ADJUSTED FOR A 1% (ANNUALIZED) MONTHLY MANAGEMENT FEE AND A 20% QUARTERLY INCENTIVE FEE THAT WOULD HAVE BEEN CHARGED TO A CUSTOMER ACCOUNT PARTICIPATING IN THE COMMODITY L/S PROGRAM. THE PERFORMANCE IS NET OF ACTUAL BROKERAGE COMMISSIONS AND TRANSACTION FEES CHARGED TO THE ACCOUNT, WITH PROFITS REINVESTED. PLEASE NOTE THAT ACTUAL CUSTOMER ACCOUNTS HAVE BEEN TRADED PURSUANT TO THE PROGRAM. COUNTY CORK HAS CHOSEN TO USE PERFORMANCE OF A PROPRIETARY ACCOUNT IN THIS PRESENTATION AS IT HAS CONTINUOUSLY OPERATED SINCE INCEPTION. PERFORMANCE INFORMATION FOR CLIENT ACCOUNT PERFORMANCE IS AVAILABLE UPON REQUEST.
Contact County Cork


Robert J. O’Brien, Jr., Manager

The Commodity L/S Portfolio Manager, as well as County Cork’s Chairman and CEO, Mr. O’Brien is one of the County Cork’s trading principals and is also primarily responsible for all trading-related decisions made by the Ag Long/Short Program, including the development of all trading models, money management, and portfolio selection. From May, 2000, to July, 2007, Mr. O’Brien was an associated person and Vice Chairman of R.J. O’Brien & Associates, LLC (“RJO”), a registered futures commission merchant (“FCM”), with which he had been associated since 1970, and which he currently serves as a member of the Board of Directors.  Mr. O’Brien holds a B.A. degree in Economics from the University of Notre Dame, and a J.D. degree from Loyola University Chicago.