Manager List    »   Protec Energy Partners LLC   »   

Recent Statistics
  • Apr Return: 0.06%
  • YTD Return: 0.55%
  • Annual CROR:1 16.37 %
  • Worst DD:2 -23.82%
  • Losing Streak:3 -6.77 %
  • Sharpe Ratio:4 1.00
  • Min Investment: $500,000
  • AUM:5 $6,230,000
  • Calmar Ratio:6 0.14
Protec Energy Partners, LLC is a Florida based Commodity Trading Advisory Firm with an emphasis on oil derivatives trading. The Program is characterized by relatively short term (one to six months), low turn-over, reversion-to-mean option strategies. The Protec team has extensive trading experience in both the physical energy and financial derivatives markets.


Protec Energy Partners ET1 program depends on both technical and fundamental considerations. Technical analysis involves the study of price charts, volume and momentum to determine the future course of prices. Other analysis will be performed on the prices of various options, both in absolute terms in relation to their historic price level, and in relative terms comparing the prices of puts to the prices of similar calls. Implied and historical volatility of both the option and its underlying commodity are also studied. Fundamental considerations, utilized on a commodity by commodity basis, include supply and demand, seasonal movements as well as business and economic factors, governmental policies, weather, and other worldwide events, which can influence the energy commodity markets. In the ET1 program, the focus is to implement medium-term strategies including option spread structures, strangles and straddles. In addition, the Advisor may purchase or sell futures to offset an open option position.Our ongoing re-balancing process is designed to keep an account’s degree of leverage relatively constant, even in volatile markets. PEP’s principals years of experience in the physical petroleum and natural gas markets enables them to better understand the external forces that affect the trading markets. Along with a strong understanding of market fundamentals, technical analysis is used to help more precisely time entry and exit strategies. PEP trades energy commodities including but not limited to crude oil, gasoline, heating oil and natural gas with trade allocations between the commodities based on potential risk vs. reward.

Our ongoing re-balancing process is designed to keep an account’s degree of leverage relatively constant, even in volatile markets. PEP’s principals years of experience in the physical petroleum and natural gas markets enables them to better understand the external forces that affect the trading markets. Along with a strong understanding of market fundamentals, technical analysis is used to help more precisely time entry and exit strategies. PEP trades energy commodities including but not limited to crude oil, gasoline, heating oil and natural gas with trade allocations between the commodities based on potential risk vs. reward.

The firm employs strict proprietary risk control procedures in an effort to preserve capital and protect against material forecasting errors. Particular attention is given to the adequate sizing of positions prior to execution, and the need to assess the current and anticipated liquidity of the segment of the market. We calculate a predetermined level of acceptable loss per position based on volatility and risk-reward dynamics. If this predetermined acceptable loss is exceeded, the position is closed.

Todd Garner is Co-Founder of Protec Fuel Management and Protec Energy Partners. In addition to overall management responsibilities, Mr. Garner oversees the day to day operations and heads the marketing and procurement operations for all energy commodities. He also co-heads the risk management, trading and program development. Mr Garner has over 25 years of experience in the physical and risk management aspect of the energy industry. Prior to forming Protec Fuel Management in 1999, Mr. Garner held the positions of Director of Trading for Natural Gas, Director of Trading for Refined Products/NGL?s and Vice President of Risk Management with The Williams Companies in Tulsa, Oklahoma. While at Williams, Mr. Garner oversaw the development and implementation of structured risk management and procurement programs for wholesalers, retailers, and pipeline shippers of refined products and natural gas.

Andrew Greenberg is Co-Founder of Protec Fuel Management and Protect Energy Partners. He heads the risk management, trading and program development for all energy commodities. In addition to administrative oversight, Mr. Greenberg?s responsibilities also include trading crude oil, refined products, natural gas and ethanol derivatives. Mr Greenberg has over 30 years in the energy industry. Prior to forming Protec Fuel Management in 1999, Mr. Greenberg was Director of Trading and Marketing for Exco-Intercaptial and Berisford Capital Markets Group, where he directed the physical and financial trading of crude oil, refined fuels and natural gas. Mr. Greenberg began his career as a grain and precious metals trader and was a NYMEX floor trader/manager of crude oil and refined products for ConAgra?s Geldermann.

Accounting Notes: The rates of return shown in the above Performance Capsule may vary materially among managed accounts due to multiple factors inherent in the ET1 program. This variance, however, is primarily due to longer-term trend-following option positions that existing clients hold in which new clients will not participate. It may take new clients several months to have comparable trading positions.

Year-to-date rate of return for 2010 is calculated as the sum of the monthly rates of return pursuant to guidance from the Commodity Futures Trading Commission. Year-to-date return from 2011 onwards is calculated using a compounded annual rate of return.

Performance results reflected for periods prior to the first trading results tabulated from and after December 8, 2011 are pro forma, and such results reflect the imposition of the management fee and incentive fee attributable to the client funds under advisement. Trading prior to December 8, 2011 was performed in a manner exempt from registration under Section 4m(1) of the Commodity Exchange Act.


  • Trading Methodology
    100% Discretionary
  • Style Sub-Categories
    Fundamental
    Option Writer
    Option Spread
    Other Option Strategy
    Mean Reversion
  • Trading Style
    100% Option Trading
  • Market Allocation

  • Holding Period
    50% Medium Term
    50% Short Term
  • Sector
    US
    Contracts
    Futures
    Options

Performance Since April 2010

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecROR Max DD
2017 1.12% -1.52% 0.91% 0.06%   0.55% -1.52%
2016 -3.84% -1.81% 3.67% 2.98% 1.18% 1.70% 3.44% -2.81% 0.81% 2.61% -0.78% 0.89% 8.01% -5.57%
2015 -2.39% 0.61% -4.47% -0.49% -3.00% -4.41% 6.70% 0.04% 2.41% -1.73% 4.30% 0.57% -2.48% -13.45%
2014 -7.69% -0.75% 0.08% 0.91% 2.11% -1.29% -3.65% -8.75% 2.87% 1.72% 1.36% 6.69% -7.22% -18.01%
2013 9.47% 3.72% -2.29% 3.87% -2.28% 0.66% 1.80% 1.63% -4.53% -1.63% -0.46% 1.50% 11.21% -6.53%
2012 10.40% 4.99% 5.90% -0.22% -3.78% -1.85% -1.97% -2.30% -5.22% 6.49% -1.53% 1.39% 11.63% -14.46%

Years201020112012201320142015
ROR47.11%63.03%11.63%11.21%-7.22%-2.48%
Max DD-2.75%-3.76%-14.46%-6.53%-18.01%-13.45%

Years20162017 YTD
ROR8.01%0.55%
Max DD-5.57%-1.52%


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.

Program Information
  • Start Date: Apr-2010
  • New Money: Yes
  • Min Investment: $500,000
  • Fund Minimum: $0
  • Notional Funds: Yes
  • NFA Member: Yes
  • NFA Number: 0414405
  • Currency: US Dollar
  • AUM:5 $6,230,000
  • Annual CROR:1 : 16.37%
  • Worst Drawdown:2 -23.82 %
  • Losing Streak:3 -6.77 %
  • Sharpe Ratio:4 1.00
  • Calmar Ratio:6 0.14
  • Margin:7: 20%
  • Mgt Fee: 2.00%
  • Incentive Fee: 20.00%
  • Other Fees: None
  • Avg Comm:8 $10.00
  • Max Comm:9:
  • Round Turns:10 4,000
Additional Information
  • Other Memberships: None
  • Correlations: AG CTA Index: 0.195 | AG Discretionary CTA Index: 0.080 | Option Writer Asset Weighted Index: 0.044 |
  • Track Record Prepared By: Flemming Financial Services

    Accounting Notes: The rates of return shown in the above Performance Capsule may vary materially among managed accounts due to multiple factors inherent in the ET1 program. This variance, however, is primarily due to longer-term trend-following option positions that existing clients hold in which new clients will not participate. It may take new clients several months to have comparable trading positions.

    Year-to-date rate of return for 2010 is calculated as the sum of the monthly rates of return pursuant to guidance from the Commodity Futures Trading Commission. Year-to-date return from 2011 onwards is calculated using a compounded annual rate of return.

    Performance results reflected for periods prior to the first trading results tabulated from and after December 8, 2011 are pro forma, and such results reflect the imposition of the management fee and incentive fee attributable to the client funds under advisement. Trading prior to December 8, 2011 was performed in a manner exempt from registration under Section 4m(1) of the Commodity Exchange Act.

  • Chart
    Chart
  • * By selecting to be contacted by a Representatives Autumn Gold may refer you to a third party broker or directly to the Manager.

    (P) - Proprietary Trading Results (C) - Client Trading Results

    1. 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 an Non-Compounded basis. This would occur when a Manager trades based on account unit rather than on account equity.

         The Annual Compound Rate of Return ("Annual 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.

         Annual Rate of Return ("Annual ROR") is calculated adding each month's 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. The Current Losing Streak ("Losing Streak") represents the extent of the Adviso'rs current drawdown.

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

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

    6. 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 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.

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

    8. The 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.

    9. Maximum Commission ("Max Comm") is the Maximum Round Turn Rate allowable by the Manager.

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

  • ++Qualified Eligible Investors Only. A Qualified Eligible Person must meet the following two requirements: 1) the investor must first be an accredited investor. The most common ways for this are to either have a net worth of $1,000,000 or more OR an annual income of $200,000 or more for the last two years OR, combined with a spouse, $300,000 per year for two years, 2) the investor must meet an additional portfolio requirement, which is having $2,000,000 in securities holdings OR $200,000 in margin on deposit with a Futures Commission Merchant OR a combination of the two (for example, $1,000,000 in securities and $100,000 in margin).

    Exemptions: PURSUANT TO AN EXEMPTION FROM THE COMMODITY FUTURES TRADING COMMISSION IN CONNECTION WITH THE ACCOUNTS OF QUALIFIED ELIBIBLE PERSONS, THIS BROCHURE OR ACCOUNT DOCUMENT IS NOT REQUIRED TO BE, AND HAS NOT BEEN, FILED WITH THE COMMISSION. THE COMMODITY FUTURES TRADING COMMISSION DOES NOT PASS UPON THE MERITS OF PARTICIPATING IN A TRADING PROGRAM OR UPON THE ADEQUANCY OR ACCURACY OF THE COMMODITY TRADING ADVISOR DISCLOSURE. CONSEQUENTLY, THE COMMODITY FUTURES TRADING COMMISSION HAS NOT REVIEWED OR APPROVED THIS TRADING PROGRAM OR THIS BROCHURE OR ACCOUNT DOCUMENT.

    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.