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  • Manager: Third Street Ag Investments, LLC
    Program: 3rd St Fundamental AG


    Principal(s): Chad R Burlet & Robert E Otter
    Strategy: Discretionary / Fundamental / Grains
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    Investment Restrictions: 4.7 Exempt - QEPs Only++
Recent Statistics
  • Feb Return: -0.01%
  • YTD Return: -0.01%
  • Annual CROR:1 3.34 %
  • Worst DD:2 -8.98%
  • Losing Streak:3 -3.59 %
  • Sharpe Ratio:4 0.40
  • Min Investment: $500,000
  • AUM:5 $46,902,000
  • Calmar Ratio:6 0.29
The foundation of fundamental agricultural trading lies in understanding the worldwide economics of grain production, transportation, processing and consumption. We believe that with this knowledge we can and will be able to develop a clear understanding of the trade flows and market aberrations which should naturally occur over time. From our market experience it is our opinion that temporary price dislocations will be created when any one group of market participant (hedgers, investors, speculators etc.) enters the market in an unbalanced fashion. Furthermore we believe that those market dislocations will always become unsustainable over time. 3rd St Fundamental Discretionary Ag focuses as a strategy on our ability to identify those dislocations and our ability to determine reasonable time frames for their correction. This knowledge should give us the opportunity to capitalize on anticipated price movements on a relatively consistent basis. Our trading will be purely discretionary and based nearly entirely on fundamental market factors. We will utilize a limited amount of technical analysis to enter and exit positions; this however will not be a primary trading ideal within the strategy.

Bob Otter, the firm�s C.O.O., monitors risk for the firm. A member of the Chicago Board of Trade since 1975, and until 2012, an active soy and grain trader, he is intimately aware of the proper risk management techniques of a successful trading operation.

Various industry standard and proprietary metrics are used by Otter to monitor and control risk. We believe that simple common sense risk management tools are the best. Monitoring the bottom line every day comes first. We rely on proprietary, quantitative risk rules which are deigned to keep losses small. We live by the motto of "Control the risk and profits will take care of themselves".

Third Street Ag Investments, LLC was formed in December, 2012 by Chad Burlet and Bob Otter. Burlet and Otter are both veterans of the grain and soy markets and their trading program will concentrate exclusively on these markets. Burlet is the Chief Trading Officer of the firm. He spent the first nine years of his career with Cargill, ultimately rising to head the firm's Commodity Marketing Division Oilseeds Trading Department. In 1989, Goldman Sachs hired Burlet to trade grain and soy for a new trading operation of the firm's J. Aron division in New York. There Burlet traded US and world soybean futures, options and cash for the firm. In 1996 Mr. Burlet became an independent trader headquartered in Chicago. He continued to utilize his extensive network of contacts and experience to successfully trade grain and soy throughout the 90�s and up to the present. Beginning in 2008, he also began trading on behalf of other investors. In 2012, when the firm was founded, Burlet brought the $10,000,000 under his management into Third Street Ag. Otter has been a member of the Chicago Board of Trade since 1975. He traded soybeans and grain from the CBOT exchange floor until 2012 when Third Street Ag was founded. Otter heads up risk management, compliance and operations in his role as the firm's C.O.O.


  • Trading Methodology
    100% Discretionary
  • Style Sub-Categories
    Fundamental
    Trend Anticipatory
    Mean Reversion
  • Trading Style
    10% Trend Following
    30% Contrarian
    40% Spread Trading
    20% Option Trading
  • Market Allocation

  • Holding Period
    5% Long Term
    20% Medium Term
    70% Short Term
    5% Intraday
  • Sector
    US
    Contracts
    Futures
    Options

Performance Since August 2012

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecROR Max DD
2017 0.00% -0.01%   -0.01% -0.01%
2016 0.63% 0.46% 0.40% -0.67% 0.07% -0.44% 1.39% -0.22% -0.16% -1.03% -0.77% 0.64% 0.27% -2.16%
2015 2.16% -1.07% 0.48% -0.55% 0.09% -0.53% 1.25% 0.90% -0.09% -0.08% 0.95% 0.11% 3.64% -1.58%
2014 -0.37% -1.59% -0.03% -1.66% -1.68% 2.15% 3.69% 2.33% 5.30% -4.91% -0.95% -1.49% 0.36% -7.22%
2013 0.29% -0.23% 0.12% -0.25% -0.58% 0.58% 0.66% -0.08% 1.32% -0.22% -2.21% -1.57% -2.19% -3.96%
2012  6.09% 2.59% 3.38% 2.73% -1.41% 13.97% -1.41%

Years201220132014201520162017 YTD
ROR13.97%-2.19%0.36%3.64%0.27%-0.01%
Max DD-1.41%-3.96%-7.22%-1.58%-2.16%-0.01%


PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. THERE IS A RISK OF LOSS IN FUTURES TRADING.

Program Information
  • Start Date: Dec-2012
  • New Money: Yes
  • Min Investment: $500,000
  • Fund Minimum: $0
  • Notional Funds: Yes
  • NFA Member: Yes
  • NFA Number: 0452910
  • Currency: US Dollar
  • AUM:5 $46,902,000
  • Annual CROR:1 : 3.34%
  • Worst Drawdown:2 -8.98 %
  • Losing Streak:3 -3.59 %
  • Sharpe Ratio:4 0.40
  • Calmar Ratio:6 0.29
  • Margin:7: 1% to 12% (2015 avg is 3%)
  • Mgt Fee: 2.00%
  • Incentive Fee: 20.00%
  • Other Fees: No
  • Avg Comm:8 $2
  • Max Comm:9:
  • Round Turns:10 1,200
Additional Information
  • Other Memberships: Robert Otter is a Member of the CBOT
  • Correlations: AG CTA Index: 0.171 | AG Discretionary CTA Index: 0.352 |
  • Track Record Prepared By: Turnkey Trading Partners

  • Chart
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  • * 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.