Davis Commodities, LLC
Macro Trading Program
Principal:
Stephen Davis
Fundamental / Macro / Currencies, Energies, Financials & Metals | Option Trading, Futures
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Month Performance
+1.16%
Aug 2026
YTD Return
+2.71%
Through Aug 2026
AUM
$2,831,413
Assets Under Management
Overview
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.
Program Details
| Inception Date | Jan 2019 |
| Trading Style | Option Trading, Futures |
| Holding Period | Long Term, Medium Term |
| Markets Traded | Currencies, Financials, Metals, Energy |
| Margin | Average 4.16% |
| Minimum Investment | $100,000 |
| Management Fee | 2.00% |
| Performance Fee | 20.00% |
This is a snapshot only. Investors should read Disclosure/Offering documents to determine suitability of investment.
GROWTH OF $1,000 VAMI
Program vs. Autumn Gold CTA Index
About the Autumn Gold CTA Index:
The Autumn Gold CTA Index is a non-investable index comprised of performance from CTA programs included in the Autumn Gold database and does not represent the complete universe of CTAs.
Hypothetical growth of $1,000 based on reported monthly returns.
PERFORMANCE SUMMARY
Annual Returns (Net)
| YEAR | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| RETURN | +14.84% | -10.51% | -10.27% | +15.46% |
Maximum Drawdown Since Inception
-22.14%
Past performance is not indicative of future results.
Performance / Program Note
Pro-Forma client results adjusted for a 2% management fee and a 20% incentive fee.
Investor Eligibility
What is a QEP?
A Qualified Eligible Person (QEP) is an investor or entity that meets the eligibility requirements described in CFTC Regulation 4.7. The applicable requirements vary by investor type and may include financial, portfolio, professional, or institutional qualifications.
This information is provided for general reference only. QEP status is
self-identified here and should be determined by reviewing the applicable
regulation and, when appropriate, with your professional advisers.
FUTURES, OPTIONS, CRYPTO, AND FOREX TRADING INVOLVES RISK AND MAY NOT BE SUITABLE FOR ALL INVESTORS. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.