Tracking CTAs since 1994
CTA Profiles
Tracking CTAs since 1994
Principal(s): Stephen Davis
Strategy: Fundamental / Macro / Currencies, Energies, Financials & Metals
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The focus of the trading program is a broad scope including: interest rates, currencies, metals, and energy, but does occasionally trade other mar- kets. Mr. Davis develops trading strategies that may include long or short futures positions as well as intra and inter-market spread positions. Options are frequently used to manage risk exposure or generate additional opportunities. Technical or chart analysis is generally used only to help determine entrance and exit points as Mr. Davis believes that fundamentals ultimately determine price movement.
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Stephen Davis is the owner and trading principal of Davis Commodities, LLC. Stephen started his career on the floor of the Chicago Board of Trade as a runner for Refco, Inc during a summer internship. After graduation in 1994 from the University of Tennessee, he returned to Memphis to work for Refco. The affiliation of the Memphis office with Sparks Companies' research offered him the opportunity to learn the complex fundamental structure of the grain, oilseed, and livestock markets. In 2006, after eleven years in brokerage, Stephen went to work for Dicken Commodities, Inc. to gain experience in fund trading and asset management.
During his time at Dicken, Stephen learned the art of managing a large commodity portfolio. Work at Dicken Commodities gave him plenty of opportunity to hone his trading skills all while helping to administer the day to day activities of a large asset manager. While at Dicken his responsibilities included: research, trade execution, trade idea development, and risk management. In 2006, Stephen began trading his own account and added other discretionary accounts over the years. Starting in 2017, he worked to launch Davis Commodities, LLC as a full-time CTA.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ROR | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | -0.76% | 0.07% | 4.44% | 3.72% | -0.76% | |||||||||
| 2024 | -1.22% | -3.87% | -4.10% | 0.52% | -1.58% | -2.87% | 0.72% | 0.88% | 1.04% | 3.06% | -3.55% | 0.22% | -10.51% | -12.49% |
| 2023 | -0.66% | -1.53% | 1.23% | -3.40% | -2.78% | -2.42% | -1.79% | -0.66% | 0.40% | 1.30% | -1.72% | 1.40% | -10.27% | -11.5% |
| 2022 | 3.49% | 3.88% | 0.79% | 2.00% | -0.17% | 3.31% | 1.25% | 0.90% | -1.46% | -0.13% | 0.25% | 0.50% | 15.46% | -1.59% |
| 2021 | 1.64% | 3.76% | 0.26% | -1.09% | 1.55% | 0.52% | 2.33% | -0.70% | 4.92% | 2.27% | -2.22% | 0.96% | 14.91% | -2.22% |
| 2020 | -2.50% | -2.27% | -1.56% | -0.44% | -0.09% | 0.65% | 8.37% | 2.60% | -6.43% | -0.17% | 4.16% | 2.45% | 4.08% | -6.7% |
| 2019 | 3.17% | 1.34% | -2.35% | -0.91% | 0.05% | -1.14% | -1.37% | 0.88% | -2.86% | 0.47% | 0.05% | 2.05% | -0.79% | -7.5% |
| Years | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| ROR | -0.79% | 4.08% | 14.91% | 15.46% | -10.27% | -10.51% |
| Max DD | -7.50% | -6.70% | -2.22% | -1.59% | -11.50% | -12.49% |
| Years | 2025 YTD |
|---|---|
| ROR | 3.72% |
| Max DD | -0.76% |
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.
