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THS Capital Management, LLC
Diversified Trend Following
Report Start Date: Feb-2022 - Report End Date: Aug-2024
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Report Start Date Report End Date



Trading Strategy: Systematic with Discretionary Overlay / Diversified


Program Description:
The THS Diversified Trend Following program is a Trend-Following program that is primarily systematic, using a proprietary blend of technical indicators, with a discretionary overlay, that generates specific Buy, Sell or No Entry signals in a basket of domestic futures markets. The Diversified Trend Following Program ($250,000) takes each of the 30 individual derivative markets that are traded. For example, in the energy sector the program could have on crude oil, heating oil, and unleaded gas. There are also multiple markets traded in the grain sector and in the metals sector. Note that during periods of extreme volatility, the system may temporarily reduce position exposure. From time to time the advisor may also utilize long options and option spreads. Once a trade is initiated, strict rules for risk management are implemented which includes, but are not limited to, trailing stop-losses on all positions. The average holding period is between 1 and 15 calendar days and the recommended account minimum is $250,000 with notional funding available. Position sizing is based on volatility and risk. The program has been shown to have a low correlation to traditional asset classes such as stocks and bonds. The Advisor maintains ongoing research into the characteristics of the markets traded.

Thomas Silman was born in Great Neck, New York, and attended Cornell University. He received a B.S. degree in Biological Sciences from Virginia Tech and did post-graduate work at Case Western Reserve University. Prior to entering the financial industry, Mr. Silman served in the U.S. Army as a Cryptographer where he held a Top Secret Cryptologic Clearance. His duties included analysis of code-breaking techniques, as well as encryption and decryption of very sensitive communications. In 1972, Mr. Silman began his financial career with Reynolds Securities (aka Dean Witter Reynolds) as a dually listed Stock and Commodity futures broker and has been actively trading ever since; initially in NY and later in CA. In 2004 he established THS Capital Management Corp as a Commodity Trading Advisor (CTA) and in 2008, Mr. Silman went private, whereby he traded mostly for himself and "Friends and Family" accounts. In 2018 he began trading under his sole proprietorship THS Capital Management. As of July 2022 all accounts traded under Mr. Silman's sole proprietorship will now be traded under THS Capital Management, LLC using the same strategy that Mr. Silman has applied to his sole proprietorship.

Investment Information
Program Start Date Jul-2022
Percent Discretionary 10%
Percent Systematic 90%
Minimum Investment 250,000
Management Fee 2.00%
Incentive Fee 20.00%
Margin 10-15%
Round Turns per Million 2,000
Currency US$
NFA No: #0548429

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The Annual Rates of Return ("ROR") have been calculated by Adding Monthly Performance
Performance from February 2022 through May 2022 represents the trading of Thomas Silman's sole proprietorship d.b.a. THS Capital Management.
See Accounting Notes

Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2022  -0.47% -0.09% 0.34% -1.18% -2.72% 4.75% -4.50% 0.88% -3.09% 0.50% 2.41%
2023 -5.19% 2.35% -0.93% 0.47% -0.94% -1.31% -4.64% -2.81% -0.25% -3.80% -0.07% 7.17%
2024 -4.24% 2.56% -5.82% 1.77% 0.74% -0.34% -1.34% -0.81%  

 202220232024
ROR-3.17%-9.95%-7.48%



PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. TRADING FUTURES AND OPTIONS INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS. THERE ARE NO GUARANTEES OF PROFIT. PROSPECTIVE CLIENTS SHOULD NOT BASE THEIR DECISION TO INVEST SOLELY ON THE PAST PERFORMANCE PRESENTED HEREIN.

Park Avenue Asset Management | Manhattan ~ New York City
Toll Free: (877) 611-PAAM | Local: (212) 600-2883 Email: [email protected] | Web Address: http://www.parkavenueassetmgt.com
© 1997 - 2025 AutumnGold.com LLC


THS Capital Management, LLC
Diversified Trend Following
Report Start Date: Feb-2022 - Report End Date: Aug-2024
Print to PDF Here




Program Statistics
Peak-to-Valley Drawdown (1) (Jul 2022 - Aug 2024) -20.07%
Worst Monthly Return (Mar 2024) -5.82%
Average Monthly Return -0.66%
Monthly Std. Deviation 2.89%
Gain Deviation (11 months gain) 2.12%
Loss Deviation (20 months loss) 1.90%
Gain to Loss Ratio 0.98
Annualized Statistics
Annualized Mean Return -7.64%
Standard Deviation 10.02%
Downside Deviation (3) 8.96%
Sharpe Ratio (4) -0.90
Gain Deviation 7.33%
Loss Deviation 6.57%
Profit Loss Ratio 0.54

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Accounting Notes: Performance from February 2022 through May 2022 represents the trading of Thomas Silman's sole proprietorship d.b.a. THS Capital Management. As of July 2022, THS Capital Management, LLC will replace Mr. Silman's sole proprietorship using the same strategy that Mr. Silman has applied to his sole proprietorship.

Statistical Notes
1. Peak to Valley Drawdown ("Maximum Drawdown") is the worst drawdown % loss over the period of 2022-02-28 to 2024-08-31. If the Start Date of this Report Predates the Inception of the Program (Jul 2022), the Maximum Drawdown from Inception may be larger than indicated in this report, 2. The Annualized Mean Return is calculated by annualizing the average monthly return, 3. Downside Deviation uses a 5% Minimum Acceptable ROR, 4. Sharpe Ratio uses a 1% Risk Free ROR

PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. TRADING FUTURES AND OPTIONS INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS. THERE ARE NO GUARANTEES OF PROFIT NO MATTER WHO IS MANAGING YOUR MONEY. THERE IS AN UNLIMITED RISK OF LOSS IN SELLING OPTIONS. YOU SHOULD CAREFULLY CONSIDER WHETHER COMMODITY FUTURES AND OPTIONS IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL CONDITION. AN INVESTOR MUST READ AND UNDERSTAND THE MANAGER'S CURRENT DISCLOSURE DOCUMENT BEFORE INVESTING.


Park Avenue Asset Management | Manhattan ~ New York City
Toll Free: (877) 611-PAAM | Local: (212) 600-2883 Email: [email protected] | Web Address: http://www.parkavenueassetmgt.com
© 1997 - 2025 AutumnGold.com LLC