Bensboro Advisors, LLC

Bensboro Seasonal Spread Trading Program QEP only

Investment Strategy

We invest in spreads that exhibit some seasonal tendencies, using futures contracts in eight major categories (Currencies, Energy, Grains, Interest Rates, Meats, Metals, Softs, and Soybeans). If a spread's current pattern is similar to its long-term and intermediate term seasonal patterns then we expect, generally, past patterns will repeat to a significant degree based on similar economic and fundamental conditions. This investment strategy uses time targets rather than price targets when determining optimal entry and exit points for trade execution.

Performance (VAMI)

Monthly Returns

Fund Manager

Charles W. Robinson III, CFA is a co-founder, principal, and manager of the Trading Advisor. He is responsible for the overall direction of the Trading Advisor, and shares responsibility for the management of the Trading Advisor and its trading decisions with T. Matthew Trump, CMT. In addition to his responsibilities with the Trading Advisor, Mr. Robinson is a co-founder, principal, and manager of The Bensboro Company, LLC, a commodity pool operator (“CPO”) that serves as General Partner to Bensboro Seasonal Futures Fund, L.P. Mr. Robinson also serves as a managing principal of Robinson Value Management, Ltd. ("RVM"), a registered investment advisory firm that he founded in 1997. As a managing principal at RVM, Mr. Robinson focuses his efforts on the discretionary management of client assets pursuant to defined investment strategies. Mr. Robinson began his financial services career as a runner and phone clerk for Rufenacht, Bromagen & Hertz ("RB&H") on the floor of the Chicago Mercantile Exchange, before serving as a commodities broker (Associated Person) at W.D. Gann Trading Company, an Introducing Broker in Chicago. Since then, he has worked for a variety of firms, both SEC- and CFTCregistered, where he gained the experience enabling him to organize and operate the Trading Advisor and other companies of which he is currently principal. Among these, he was a portfolio manager in the private client/trust division of NationsBank, Texas, an analyst and portfolio manager with Leavy Investment Management, Inc., and an analyst at Ventex, a venture capital firm. Mr. Robinson taught Portfolio Theory and Computer Applications in Finance at the University of Texas San Antonio, became a CFA Charterholder in 1993 and is past president of the CFA Society of San Antonio. He holds an MBA from the University of Texas at San Antonio (1991) and a BA in Economics from Davidson College (1984). Mr. Robinson is an elder at First Presbyterian Church in San Antonio, a member of Conopus, the Merry Knights of King William, and the Order of the Alamo. He lives in San Antonio with his wife Amy and their two children. T. Matthew Trump, CMT is a co-founder, principal, and manager of the Trading Advisor. He shares responsibility with Charles W. Robinson III, CFA for the management and trading decisions for the Trading Advisor. Along with Charles W. Robinson III, Mr. Trump is also a co-founder, principal, and manager of The Bensboro Company, LLC. The Bensboro Company, LLC is a registered CPO, which serves as General Partner to the Bensboro Seasonal Futures Fund, L.P. Mr. Trump has worked for a variety of SEC and/or FINRA registered financial services firms. He has served in the capacity as a registered representative at both Legg Mason Wood Walker, Inc.and Chapin Davis, Inc., a registered principal with Raymond James Financial Services, Inc., an investment advisor representative with Calvert Investment Counsel, and a regional vice president with ProFunds Distributors, Inc. He obtained his Chartered Market Technician (“CMT”) designation in 2008, founded and chaired the Market Technicians Association's Baltimore chapter, and is currently co-chair of their Dallas chapter. His experience in portfolio management includes equities, derivatives, and foreign exchange (“Forex”) markets. He is a graduate of the University of Alabama, where he was awarded a bachelor of science in Business Administration with a concentration in Finance in 1996. Mr. Trump is a United States military veteran who received 10 medals and ribbons for his honorable service as a United States Marine during the 1990-1991 Gulf War. Upon his return, he became the Nuclear Biological and Chemical Warfare NCOIC for the 4th Combat Engineer Battalion, 4th Marine Division, Engineer Support Company in Baltimore, Maryland. Later he held the same position for the 4th Battalion, 14 Marines, in Bessemer, Alabama. Currently Mr. Trump lives in the Dallas/Fort Worth area with his wife Elizabeth and their three young boys. There have been no administrative, civil, or criminal actions, either pending, on appeal, or concluded, against the Trading Advisor or its principals.

General Information

Inception DateJan 2015
Minimum Investment500,000 USD
Management Fee2.00%
Performance Fee20.00%
Highwater MarkYes
Phone210-881-0908
E-mail[email protected]
Websitewww.bensboro.com

Statistics

Total Return Cumulative 40.94%
Sharpe Ratio 0.41
Sortino Ratio 0.55
Winning Months (%) 60.53%
Correlation vs. S&P 500 TR -0.04

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 -0.49 1.14 -1.02 -2.69 -4.73 3.20 -4.69
2023 1.02 -0.30 2.65 -7.03 2.71 1.39 -1.80 1.75 5.91 0.92 0.95 0.23 8.16
2022 2.17 -0.66 -3.82 5.97 1.09 2.50 0.24 -5.04 -1.73 1.10 6.31 2.01 9.93
2021 2.09 -2.57 1.02 0.80 -1.77 -2.87 0.99 -2.74 0.35 -2.59 1.82 0.33 -5.22
2020 2.89 2.14 0.60 4.36 -1.47 -0.69 1.37 -1.89 -2.80 -1.88 -1.27 1.06 2.17
2019 1.93 3.34 5.68 -0.56 3.28 0.29 0.78 2.22 -2.11 0.29 1.98 1.27 19.76
2018 0.83 1.23 0.50 -0.15 2.84 0.32 1.29 3.05 0.72 4.52 1.16 0.37 17.90
2017 -0.63 -6.79 7.14 -1.32 -4.96 -4.82 -0.83 -4.05 -0.12 2.38 0.84 0.84 -12.35
2016 -6.27 -3.50 2.26 -3.40 7.53 -0.58 2.92 4.29 0.99 2.19 0.84 -2.33 4.21
2015 3.32 4.08 0.87 -3.10 -0.19 -1.07 -3.34 -1.17 -4.67 -2.57 3.31 4.67 -0.42
There is a substantial risk of loss in trading commodity futures, equities, options and off-exchange foreign currency products. Past performance is not indicative of future results.
No data filled

Monthly Returns

Performance (VAMI)

Distribution of Monthly Returns

12 Month Rolling ROR

Up Capture vs. S&P 500 TR

Down Capture vs. S&P 500 TR

AUM

Volatility (12 Months Rolling)

Risk/Return Comparison

Drawdown

Instruments

No data filled

Return Statistics

Last Month 3.20%
Year To Date -4.69%
3 Month ROR -4.33%
12 Months ROR 2.99%
36 Month ROR 11.15%
Total Return Cumulative 40.94%
Total Return Annualized 3.68%
Best Month 7.53%
Winning Months (%) 60.53%
Gain Deviation 1.76

Risk Statistics

Standard Deviation Annualized 9.94%
Max Drawdown (Monthly) -19.46%
Max Drawdown Length 46
Worst Month -7.03%
Losing Months (%) 39.47%
Average Losing Month -2.45%
Loss Deviation 1.80
Correlation vs S&P 500 -0.04
Correlation vs DJ/CS MF -0.11

Risk/Reward Statistics

Sharpe Ratio 0.41
Sortino Ratio 0.55
Omega Ratio 0.63
Skewness -0.14
Kurtosis 0.26

Drawdown Report

No. Depth (%) Length (Months) Recovery (Months) Start date End date
Fund Index Fund Index Fund Index Fund Index Fund Index
1 -19.46% 30 16 04/2015 01/2019
2 -14.31% 23 18 05/2020 09/2023
3 -8.24% 3 0 03/2024 -
4 -2.11% 1 2 09/2019 11/2019
5 -0.56% 1 1 04/2019 05/2019

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 7.53%-7.03%0.34%0.79%3.20%60.53%
3 Months 11.32%-10.73%0.95%1.33%-4.33%60.71%
6 Months 18.42%-15.16%2.05%2.46%-4.69%59.63%
1 Year 27.96%-16.24%4.80%4.22%2.99%64.08%
2 Years 52.09%-11.78%10.42%4.20%5.72%65.93%
3 Years 57.63%-13.99%16.88%13.64%11.15%83.54%
5 Years 51.49%11.40%34.79%36.45%14.63%100.00%

Time Window Analysis

1 Month3 Months6 Months1 Year2 Years3 Years
Annual Compounded Avg3.68%10.24%23.29%63.06%186.67%464.65%
% Positive60.53%60.71%59.63%64.08%65.93%83.54%
Avg. Pos. Period2.17%4.34%7.28%11.76%18.55%21.65%
Avg. Neg. Period-2.45%-4.30%-5.68%-7.62%-5.32%-7.34%
Sharpe Ratio0.410.640.931.442.103.24
Sortino Ratio0.550.871.422.688.6315.55
Standard Deviation2.87%5.11%7.65%11.56%17.19%18.02%
Downside Deviation1.91%3.23%4.30%5.38%3.68%3.46%
No data filled

Company Information

Minimum Investment500,000 USD (notional funding: 20.00%)
AUM3,752,313 USD
Management Fee2.00%
Performance Fee20.00%
Highwater MarkYes
RT per Million1625
Margin to Equity12.50%
Legal StructureManaged Account
Investment RestrictionOnly for Qualified Eligible Persons

Company Information

CompanyBensboro Advisors, LLC
PrincipalCharles W. Robinson III, CFA
Phone210-881-0908
E-mail[email protected]
License NumberNFA 490825
LocationSan Antonio, United States
Performance Compiled byNAV Consulting, Inc.

Monthly Performance

  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Year
2024 -0.49 1.14 -1.02 -2.69 -4.73 3.20 -4.69
2023 1.02 -0.30 2.65 -7.03 2.71 1.39 -1.80 1.75 5.91 0.92 0.95 0.23 8.16
2022 2.17 -0.66 -3.82 5.97 1.09 2.50 0.24 -5.04 -1.73 1.10 6.31 2.01 9.93
2021 2.09 -2.57 1.02 0.80 -1.77 -2.87 0.99 -2.74 0.35 -2.59 1.82 0.33 -5.22
2020 2.89 2.14 0.60 4.36 -1.47 -0.69 1.37 -1.89 -2.80 -1.88 -1.27 1.06 2.17
2019 1.93 3.34 5.68 -0.56 3.28 0.29 0.78 2.22 -2.11 0.29 1.98 1.27 19.76
2018 0.83 1.23 0.50 -0.15 2.84 0.32 1.29 3.05 0.72 4.52 1.16 0.37 17.90
2017 -0.63 -6.79 7.14 -1.32 -4.96 -4.82 -0.83 -4.05 -0.12 2.38 0.84 0.84 -12.35
2016 -6.27 -3.50 2.26 -3.40 7.53 -0.58 2.92 4.29 0.99 2.19 0.84 -2.33 4.21
2015 3.32 4.08 0.87 -3.10 -0.19 -1.07 -3.34 -1.17 -4.67 -2.57 3.31 4.67 -0.42
There is a substantial risk of loss in trading commodity futures, equities, options and off-exchange foreign currency products. Past performance is not indicative of future results.

Strategy Description

We invest in spreads that exhibit some seasonal tendencies, using futures contracts in eight major categories (Currencies, Energy, Grains, Interest Rates, Meats, Metals, Softs, and Soybeans). If a spread's current pattern is similar to its long-term and intermediate term seasonal patterns then we expect, generally, past patterns will repeat to a significant degree based on similar economic and fundamental conditions. This investment strategy uses time targets rather than price targets when determining optimal entry and exit points for trade execution.

Return Statistics

Last Month 3.20%
Year To Date -4.69%
3 Month ROR -4.33%
12 Months ROR 2.99%
36 Month ROR 11.15%
Total Return Cumulative 40.94%
Total Return Annualized 3.68%
Best Month 7.53%
Winning Months (%) 60.53%
Gain Deviation 1.76

Risk Statistics

Standard Deviation Annualized 9.94%
Max Drawdown (Monthly) -19.46%
Max Drawdown Length 46
Worst Month -7.03%
Losing Months (%) 39.47%
Average Losing Month -2.45%
Loss Deviation 1.80
Correlation vs S&P 500 -0.04
Correlation vs DJ/CS MF -0.11

Risk/Reward Statistics

Sharpe Ratio 0.41
Sortino Ratio 0.55
Omega Ratio 0.63
Skewness -0.14
Kurtosis 0.26

Monthly Returns

Performance (VAMI)

Fund Manager

Charles W. Robinson III, CFA is a co-founder, principal, and manager of the Trading Advisor. He is responsible for the overall direction of the Trading Advisor, and shares responsibility for the management of the Trading Advisor and its trading decisions with T. Matthew Trump, CMT. In addition to his responsibilities with the Trading Advisor, Mr. Robinson is a co-founder, principal, and manager of The Bensboro Company, LLC, a commodity pool operator (“CPO”) that serves as General Partner to Bensboro Seasonal Futures Fund, L.P. Mr. Robinson also serves as a managing principal of Robinson Value Management, Ltd. ("RVM"), a registered investment advisory firm that he founded in 1997. As a managing principal at RVM, Mr. Robinson focuses his efforts on the discretionary management of client assets pursuant to defined investment strategies. Mr. Robinson began his financial services career as a runner and phone clerk for Rufenacht, Bromagen & Hertz ("RB&H") on the floor of the Chicago Mercantile Exchange, before serving as a commodities broker (Associated Person) at W.D. Gann Trading Company, an Introducing Broker in Chicago. Since then, he has worked for a variety of firms, both SEC- and CFTCregistered, where he gained the experience enabling him to organize and operate the Trading Advisor and other companies of which he is currently principal. Among these, he was a portfolio manager in the private client/trust division of NationsBank, Texas, an analyst and portfolio manager with Leavy Investment Management, Inc., and an analyst at Ventex, a venture capital firm. Mr. Robinson taught Portfolio Theory and Computer Applications in Finance at the University of Texas San Antonio, became a CFA Charterholder in 1993 and is past president of the CFA Society of San Antonio. He holds an MBA from the University of Texas at San Antonio (1991) and a BA in Economics from Davidson College (1984). Mr. Robinson is an elder at First Presbyterian Church in San Antonio, a member of Conopus, the Merry Knights of King William, and the Order of the Alamo. He lives in San Antonio with his wife Amy and their two children. T. Matthew Trump, CMT is a co-founder, principal, and manager of the Trading Advisor. He shares responsibility with Charles W. Robinson III, CFA for the management and trading decisions for the Trading Advisor. Along with Charles W. Robinson III, Mr. Trump is also a co-founder, principal, and manager of The Bensboro Company, LLC. The Bensboro Company, LLC is a registered CPO, which serves as General Partner to the Bensboro Seasonal Futures Fund, L.P. Mr. Trump has worked for a variety of SEC and/or FINRA registered financial services firms. He has served in the capacity as a registered representative at both Legg Mason Wood Walker, Inc.and Chapin Davis, Inc., a registered principal with Raymond James Financial Services, Inc., an investment advisor representative with Calvert Investment Counsel, and a regional vice president with ProFunds Distributors, Inc. He obtained his Chartered Market Technician (“CMT”) designation in 2008, founded and chaired the Market Technicians Association's Baltimore chapter, and is currently co-chair of their Dallas chapter. His experience in portfolio management includes equities, derivatives, and foreign exchange (“Forex”) markets. He is a graduate of the University of Alabama, where he was awarded a bachelor of science in Business Administration with a concentration in Finance in 1996. Mr. Trump is a United States military veteran who received 10 medals and ribbons for his honorable service as a United States Marine during the 1990-1991 Gulf War. Upon his return, he became the Nuclear Biological and Chemical Warfare NCOIC for the 4th Combat Engineer Battalion, 4th Marine Division, Engineer Support Company in Baltimore, Maryland. Later he held the same position for the 4th Battalion, 14 Marines, in Bessemer, Alabama. Currently Mr. Trump lives in the Dallas/Fort Worth area with his wife Elizabeth and their three young boys. There have been no administrative, civil, or criminal actions, either pending, on appeal, or concluded, against the Trading Advisor or its principals.

Distribution of Monthly Returns

12 Month Rolling ROR

Drawdown Report

No. Depth (%) Length (Months) Recovery (Months) Start date End date
Fund Index Fund Index Fund Index Fund Index Fund Index
1 -19.46% 30 16 04/2015 01/2019
2 -14.31% 23 18 05/2020 09/2023
3 -8.24% 3 0 03/2024 -
4 -2.11% 1 2 09/2019 11/2019
5 -0.56% 1 1 04/2019 05/2019

Return Report

Period BestWorstAverageMedianLastWinning %
1 Month 7.53%-7.03%0.34%0.79%3.20%60.53%
3 Months 11.32%-10.73%0.95%1.33%-4.33%60.71%
6 Months 18.42%-15.16%2.05%2.46%-4.69%59.63%
1 Year 27.96%-16.24%4.80%4.22%2.99%64.08%
2 Years 52.09%-11.78%10.42%4.20%5.72%65.93%
3 Years 57.63%-13.99%16.88%13.64%11.15%83.54%
5 Years 51.49%11.40%34.79%36.45%14.63%100.00%

Time Window Analysis

1 Month3 Months6 Months1 Year2 Years3 Years
Annual Compounded Avg3.68%10.24%23.29%63.06%186.67%464.65%
% Positive60.53%60.71%59.63%64.08%65.93%83.54%
Avg. Pos. Period2.17%4.34%7.28%11.76%18.55%21.65%
Avg. Neg. Period-2.45%-4.30%-5.68%-7.62%-5.32%-7.34%
Sharpe Ratio0.410.640.931.442.103.24
Sortino Ratio0.550.871.422.688.6315.55
Standard Deviation2.87%5.11%7.65%11.56%17.19%18.02%
Downside Deviation1.91%3.23%4.30%5.38%3.68%3.46%

Up Capture vs. S&P 500 TR

Down Capture vs. S&P 500 TR

Drawdown

Volatility (12 Months Rolling)

Instruments

AUM

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