Methodology:	Discretionary
Strategy:	Macro / Fundamental
Sub-Strategy:	N/A
Market Focus:	Commodities

This program trades primarily in futures spreads or in futures and options spreads. The program seeks to capture profits based on the Advisor’s assessment of the relative value of two related agricultural futures or options contracts. The trading method is proprietary, and uses supply and demand analysis and seasonal trend analysis, among other strategies. The firm employs a fundamental discretionary trading style, drawing upon such considerations as supply/demand analysis, seasonal patterns, weather forecasts, and historical price/use ratios. FSCC attempts to control risk by utilizing spread trades, a low margin-to-equity ratio, option volatility calculations and other proprietary techniques. Trade duration may vary from a few days to several months, although most trades tend to be relatively long-term.

Management Fee:	0.00%
Incentive Fee:	20.00%
Strategy AUM:	$22,466,547
Firm AUM:	$22,500,000

Typical Trade Duration:
Round Turns per Million:	1,200
Typical Margin-to-Equity:	10
Managed Account Minimum:	$500,000

Date Range:	03/05 – 02/21
Annualized ROR:	6.96%
Standard Deviation:	7.51%

Maximum Drawdown:	-12.48%
Sharpe Ratio (0% RFR):	0.93
Correlation to S&P 500:	0.14

Date Range: 02/05 – 12/20

Note: Estimated returns are used for the most recent reported monthly ROR or appear in italics. All performance data is since program inception.

Visit the following links to learn more about this manager and strategies through Coquest:

• Coquest Strategy Summary
• Manager Profile
• CTA Database listing