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The Great O'Neill - Discretionary Global Macro

Principal(s): John Kierans
Strategy: Discretionary / Fundamental / Softs & Energy
Request Disclosure Document
Investment Restrictions: Qualified Eligible Participants Only++

Statistics & Program Information

Nov Return   -3.83% Worst Drawdown (2)    -31.12% Minimum Investment   $500,000
YTD Return   -3.99% Losing Streak (3)    -25.49 % AUM (5)   $1,490,000
Annualized CROR (1)    0.15 Sharpe Ratio (4)   0.00 Calmar Ratio (6)    0.14
Trading Methodology
100% Discretionary
 Style Sub-Categories
Pattern Recognition
Option Writer
Option Spread
Other Option Strategy
Volatility
Mean Reversion

 Trading Style
10% Trend Following
30% Contrarian
10% Spread Trading
10% Option Trading
40% Other
Market Sector
2% Stock Indices
2% Currencies
6% Metals
44% Energies
46% Softs
 Holding Period
3% Long Term
14% Medium Term
74% Short Term
9% Intraday
 Sector

Contracts
Futures
Options
Start Date   Jan-2016 Currency   US Dollar Margin (7)   5-15%
New Money   Yes AUM (5)   $1,490,000 Management Fee    2.00%
Min Investment    $500,000 Annualized CROR (1)   0.15 Incentive Fee    20.00%
Fund Minimum    $500,000 Losing Streak (3)    -25.49 % Other Fees   None
Notional Funds    Yes Worst Drawdown (2)    -31.12 % Avg Comm (8)   $5
NFA Member    Yes Sharpe Ratio (4)    0.00 Max Comm (9)   
NFA Number    01517188 Calmar Ratio (6)    0.14 Round Turns (10)    811
Starting Date:  Jan-2016 Currency:  US Dollar
Open to New Investors:  Yes Current Assets:  $1,490,000
Open to US Investors:  Yes Annualized CROR:  0.15%
Minimum Fund Investment:  $500,000 Worst Monthly Drawdown:  -31.12
Minimum Managed Account:  $500,000 Current Losing Streak:  -25.49 %
Domocile:   Calmar:  0.14
Subscriptions:  N/A Sharpe Ratio:  0.00
Redemptions:  N/A US Attorney:  Not Listed
Lock Up:  N/A Offshore Attorney:  Not Listed
Hurdle Rate:  N/A Administrator:  Not Listed
Administraton Fee:  0.00% Prime Broker:  Not Listed
Management Fee:  2.00% Auditor:  Not Listed
Incentive Fee:  20.00% NFA Member:  Yes
Other Fees:  None FINRA Member:  No
Other Memberships:  None
Type of Fund:
 Domicile:
 Strategy:
Correlations: AG CTA Index: -0.008              AG Discretionary CTA Index: 0.026             

P - Proprietary Trading Results * C - Client Trading Result * P&C - Combines Client & Proprietary Trading Results (the accounting notes will identify the time frame for each.

1. Rates of Return: Rate of Returns are calculated from the start date of each program. Usually returns are calculated based on the Annual Compounded Rate of Return method. In some cases returns have been calculated on a Non-Compounded basis. This would occur when a Manager trades based on account unit rather than on account equity.

The Annualized Compounded Rate of Return ("Annualized CROR") represents the compounded rate of return or each year or portion thereof presented. It is computed by applying successively respective monthly rate of return for each month beginning with the first month of that period. The Annual Rate of Return ("Annual ROR") is the annualized Mean Return.

2. The Worst Peak-to-Valley Drawdown ("Worst Drawdown") is defined as the greatest cumulative percentage decline in net asset value due to losses sustained by the trading program during any period in which the initial net asset value is not equaled or exceeded by a subsequent asset value.

3. Start & End Dates: Indicates the Start and End Dates of the Worst Peak-to-Valley Drawdown.

4. The Current Losing Streak ("Losing Streak") represents the extent of the Advisor's current drawdown.

5. Annualzied Standard Deviation is one way to look at consistency of returns. It measures the degree by which the monthly returns vary from the average (mean) return.

6. Downside Deviation is a measure of downside volatility. It only considers those monthly performance results that are less than the monthly Minimum Acceptable Rate of Return.

7. The Sharpe Ratio is a risk-adjusted ratio that rewards consistency of returns. Traders are penalized for volatility regardless of whether it is on the up or downside. The Sharpe Ratios is calculated using a 1% risk-free rate of return.

8. The Sortino Ratio is a risk-adjusted ratio. The higher the number the better. Results are dependent upon the Minimum Acceptable Rate of Return (currently set at 5%.

9. The Sterling Ratio is a risk-adjusted return measurement calculated by dividing the Annualized Compound ROR by the Average Yearly Maximum Drawdown less an arbitrary 10%. The Sterling Ratio is normally calculated using the last 36 months of data.

10. The Calmar Ratio represents the historical amount gained for each dollar risked. A higher number is better. Unless otherwise denoted the Calmar Ratio is calculated by dividing the 36 month Annualized Compounded ROR by the 36 month Peak to Valley Drawdown. Traders with less than 36 months of data or a negative Calmar Ratio will be indicated by N/A.

11. The Omega Function accounts for the non-normal distributions of returns and takes into account the investor's preferences for loss and gain. Omega is computed directly from the returns distribution and measures the total impact of the moments instead of each one of them individually.

12. Minimum Investment represents the minimum account size.

13. Assets Under Management ("AUM") represents the current nominal assets traded by the Manager.

14. The Number of Winning Months represents the months with positive return.

15. The Number of Losing Months represents the months with negative return.

16. The Percentage of Winning Months represents the % of winning months.

17. Margin to Equity ("Margin") represents the average margin as a percent of a fully funded account.

18. Round Turns per Million ("Round Turns") represent the average number of round turns that would be generated in a $1,000,000 account.

19. Average Commission ("Avg Comm") represents the average commission rate of the composite track record. A higher or lower commission rate would increase or decrease the performance accordingly.

20. Maximum Commisions ("Max Comm") is the Maximum Round Turn Rate allowable by the Manager.

Trading Description:

The Great O'Neill Program employs a proprietary trading technique in which fundamental factors, such as market psychology, and technical indicators are combined in an attempt to forecast market direction. (www.thegreatoneill.com)

Risk Strategy:

Monitor overall book size. Monitor for excessive exposure to correlated markets. Use options to protect downside. (www.thegreatoneill.com)

Background:

John Kierans is head of trading. He has been trading his own money since 1996. John traded in the trading pits of the New York Board of Trade (NYBOT) / ICE exchange and the trading pit of the New York Mercantile Exchange (NYMEX) / CME Group. John served on the board of directors of the NYBOT FINEX division from 2002 to 2007. John holds a degree in Business Studies and Capital Markets from Dublin City University and various other professional qualifications. Colin Bracken directs our quantitative analysis and research. Colin assesses trade opportunities and risk for The Great O’Neill. Colin holds a degree in Applied Physics and a Masters of Business Studies from the University of Limerick. Colin worked as a trader with Custom House Capital before joining the firm in 2009. In 2015 we took the decision to evolve into a CTA and offer our services to the private high-net-worth market. Our first objective was to develop a product that offers genuine diversity to private clients, who are typically only long assets. Our second objective was durability. We aim to be around for a long time and so created a low leverage product. Our max leverage is one and a half times book. Our normal leverage is a fraction of that. Most banks operate at well over 20 times book! Finally our third and final objective was to create a positive performance. Using our own proprietary funds the Great O’Neill began trading in January 2016. We have and continue to meet all three of our objectives. • Diversity • Low Leverage Low Risk • Performance In 2018 the Great O’Neill registered with the NFA as a Commodity Trading Advisor (CTA). We launched our website (www.thegreatoneill.com) in 2019 and are now actively seeking clients.

Accounting Notes:

Monthly returns include a deduction for a 20% pro-forma incentive fee based upon net new profits. Monthly returns include a deduction for a 2% annual (1/6% per month) proforma management fee based upon ending net asset value. Pro-forma adjustments were made to demonstrate the rates of return that would have been achieved if the Advisor's maximum current fee structure was in effect.

Performance

Pro-Forma Returns adjusted for a 2% Management Fee and 20% Incentive Fee (A Portion of this Performance is based on Proprietary Trading)

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecROR Max DD
2024 -4.04% 0.76% 1.34% 0.24% 9.03% -1.61% -4.33% -2.32% -0.75% 2.15% -3.83%   -3.99% -10.35%
2023 -6.88% -3.66% -4.29% -0.56% 0.07% -3.57% 2.01% -1.22% 1.29% -2.74% -0.52% -2.70% -20.83% -20.83%
2022 10.71% 9.31% 4.70% -0.56% 14.56% 7.64% -5.99% -5.04% 7.67% -3.12% 0.40% 4.84% 52.28% -10.73%
2021 2.05% -5.60% -5.53% 1.10% 5.75% -5.40% -0.33% -1.52% -12.22% -5.20% -2.30% -4.33% -29.7% -31.12%
2020 -2.71% 0.75% 0.83% -2.80% -1.90% -3.01% 5.63% 6.20% 1.21% 2.20% -2.83% 7.31% 10.57% -8.61%
2019 -0.19% 0.66% 0.53% -1.20% 3.71% -3.59% 0.89% 2.65% -0.03% 0.55% -0.72% 0.71% 3.86% -3.59%


Annual Performance

Years201620172018201920202021
ROR3.60%1.78%2.81%3.86%10.57%-29.70%
Max DD-6.91%-3.11%-1.78%-3.59%-8.61%-31.12%

Years202220232024 YTD
ROR52.28%-20.83%-3.99%
Max DD-10.73%-20.83%-10.35%



PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. THERE IS A RISK OF LOSS IN FUTURES TRADING.

THERE IS UNLIMITED RISK OF LOSS ASSOCIATED WITH WRITING SHORT OPTION CONTRACTS.

VAMI, Assets under Management & Worst Drawdown

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Monthly Returns

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RISK DISCLOSURE

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.

THIS MATTER IS INTENDED AS A SOLICITATION FOR MANAGED FUTURES. THE RISK OF TRADING COMMODITY FUTURES, OPTIONS AND/OR FOREIGN EXCHANGE ('FOREX') IS SUBSTANTIAL. THE HIGH DEGREE OF LEVERAGE ASSOCIATED WITH COMMODITY FUTURES, OPTIONS AND FOREX CAN WORK AGAINST YOU AS WELL AS FOR YOU. THIS HIGH DEGREE OF LEVERAGE CAN RESULT IN SUBSTANTIAL LOSSES, AS WELL AS GAINS. YOU SHOULD THEREFORE CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. IF YOU ARE UNSURE YOU SHOULD SEEK PROFESSIONAL ADVICE. AN INVESTOR MUST READ AND UNDERSTAND THE CTA’S CURRENT DISCLOSURE DOCUMENT BEFORE INVESTING. THERE ARE NO GUARANTEES OF PROFIT NO MATTER WHO IS MANAGING YOUR MONEY.

PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. IN SOME CASES MANAGED ACCOUNTS ARE CHARGED SUBSTANTIAL COMMISSIONS AND ADVISORY FEES. THOSE ACCOUNTS SUBJECT TO THESE CHARGES, MAY NEED TO MAKE SUBSTANTIAL TRADING PROFITS JUST TO AVOID DEPLETION OF THEIR ASSETS. EACH COMMODITY TRADING ADVISOR ("CTA") IS REQUIRED BY THE COMMODITY FUTURES TRADING COMMISSION ("CFTC") TO ISSUE TO PROSPECTIVE CLIENTS A RISK DISCLOSURE DOCUMENT OUTLINING THESE FEES, CONFLICTS OF INTEREST AND OTHER ASSOCIATED RISKS. A HARD COPY OF THESE RISK DISCLOSURE DOCUMENTS ARE READILY AVAILABLE BY CLICKING ON EACH CTA'S "REQUEST DISCLOSURE DOCUMENT" BUTTON.

THE FULL RISK OF COMMODITY FUTURES, OPTIONS AND FOREX TRADING CAN NOT BE ADDRESSED IN THIS RISK DISCLOSURE STATEMENT. NO CONSIDERATION TO INVEST SHOULD BE MADE WITHOUT THOROUGHLY READING THE DISCLOSURE DOCUMENT OF EACH OF THE CTAS IN WHICH YOU MAY HAVE AN INTEREST. REQUESTING A DISCLOSURE DOCUMENT PLACES YOU UNDER NO OBLIGATION AND EACH DOCUMENT IS PROVIDED AT NO COST. THE CFTC HAS NOT PASSED UPON THE MERITS OF PARTICIPATING IN ANY OF THE FOLLOWING PROGRAMS NOR ON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE DOCUMENTS. OTHER DISCLOSURE STATEMENTS ARE REQUIRED TO BE PROVIDED TO YOU BEFORE AN ACCOUNT MAY BE OPENED FOR YOU.

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR DECISION ON INVESTING IN THIS TRADING PROGRAM SOLELY ON THE PAST PERFORMANCE PRESENTED. ADDITIONALLY, IN MAKING AN INVESTMENT DECISION, PROSPECTIVE CLIENTS MUST ALSO RELY ON THEIR OWN EXAMINATION OF THE PERSON OR ENTITY MAKING THE TRADING DECISIONS AND THE TERMS OF THE ADVISORY AGREEMENT INCLUDING THE MERITS AND RISKS INVOLVED.

AUTUMN GOLD CTA INDEXES ARE NON-INVESTABLE INDEXES COMPRISED OF THE CLIENT PERFORMANCE OF CTA PROGRAMS INCLUDED IN THE AUTUMN GOLD DATABASE AND DO NOT REPRESENT THE COMPLETE UNIVERSE OF CTAS. INVESTORS SHOULD NOTE THAT IT IS NOT POSSIBLE TO INVEST IN THESE INDEXES.

 
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