CTA Profiles

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Home » Manager List » County Cork LLC »

County Cork LLC - County Cork Diversified Commodity Long Short (P)

Principal(s): Robert J. O'Brien Jr. and Thomas Senft
Strategy: Futures Strategies / Long Short
Request Additional Information
Investment Restrictions: 4.7 Exempt - QEPs Only
Statistical Reports are Subscription Based

Statistics & Program Information

Sep 2025 Return 1.76%	Worst Drawdown ⁽²⁾ -13.94%	Minimum Investment $2,000,000
YTD Return: -0.54%	Losing Streak ⁽³⁾: -11.07%	AUM ⁽⁵⁾: $4,000,000
Annualized CROR⁽¹⁾ 2.3%	Sharpe Ratio 4% RF ROR⁽⁴⁾: -0.18	Calmar Ratio ⁽⁶⁾: N/A
2) Annualized ACROR is based on compounding. Please see Footnotes for more information.

Trading Methodology 100% Systematic	Style Sub-Categories Long Short	Trading Style
Market Sector 15% Metals 30% Energies 30% Agriculturals 25% Meats	Holding Period 5% Long Term 15% Medium Term 80% Short Term	Geographic Sector US Contracts: Warning: Undefined array key 0 in /srv/app/code/includes_new/cta_profile_apex_v2_narrow.php on line 781

Start Date Oct-2018	Currency US Dollar	Management Fee 1.00%
Accepting New Accounts Yes	Min Investment $2,000,000	Incentive Fee 20.00%
NFA Member Yes	Fund Minimum $0	Other Fees 0
NFA Number 0318270	Margin ⁽⁷⁾ 2-9% / Avg 4.24%	Avg Comm ⁽⁸⁾ $5.00 RT
Notional Funds Yes	Round Turns Per Million ⁽¹⁰⁾ 664	Max Comm ⁽⁹⁾

Starting Date: Oct-2018	Currency: US Dollar
Open to New Investors: Yes	Current Assets: $4,000,000
Open to US Investors: Yes	Annualized CROR: 1.94%
Minimum Fund Investment: $0
Minimum Managed Account: $2,000,000	Current Losing Streak: -11.07 %
Domocile:	Calmar: N/A
Subscriptions: N/A	Sharpe Ratio: 4% RF ROR -0.18
Redemptions: N/A	US Attorney: Not Listed
Lock Up: N/A	Offshore Attorney: Not Listed
Hurdle Rate: N/A	Administrator: Not Listed
Administraton Fee: 0.00%	Prime Broker: Not Listed
Management Fee: 1.00%	Auditor: Not Listed
Incentive Fee: 20.00%	NFA Member: Yes
Selling Fee: 0.00%	FINRA Member: No
Other Fees: 0	Other Memberships: None

Type of Fund:	Domicile:	Strategy:

Track Record Prepared By: Michael Liccar

Correlations:

Growth of $1,000 VAMI and Monthly Returns

Trading Description, Risk Strategy & Background

Trading Description

The general philosophy of the Diversified Commodity L/S Program is the pricing of grain, livestock, precious metals and energy futures are typically tied to what happens in the cash market. And that the price action in the derivative futures markets can sometimes be distorted by speculative trading. The program operates under the theory that the price action of the cash market more accurately reflects the reality of supply and demand factors that ultimately determine derivative pricing. With this in mind, the Diversified Commodity L/S Program monitors and analyzes cash price vs futures price movements in order to generate trading signals.

The Diversified Commodity LS Program is a culmination of over 10 years of work and extensive research. It began with Robert J. O'Brien Jr.'s theory, derived from years of experience working in Agricultural research and sales, that significant change in the basis between the cash and the futures price of a specific commodity should be indicative of future price movement. This theory has been tested and evaluated by in house researchers as well as paid consultants. Our conclusions are that the theory bears out, and basis change can be predictive of price movement of the futures product.

Risk Strategy

County Cork focuses on risk and money management. We concluded that regardless of how it is done, all trading strategies must have a stop loss point. Forcing an entry signal to always act as an exit signal, as in the original program, can cause significant distortion when evaluating parameters. Forcing any trade to exit if it loses a set amount from entry is the key element of risk management in the new models. County Cork's trade management rules have also been applied. A breakeven "plus" stop. A time in trade stop.

Volatility management dovetails with risk management but has distinctive differences as well. Diversification works best when the allocation to an instrument is adjusted for volatility. Without this, the two or three most volatile instruments will swing the portfolio and minimize the contributions of the other instruments. We also theorized that having a methodology that can dynamically allocate risk based on performance of any given market/model pair is essential not only to minimizing drawdowns but also as a guard against overfitting the portfolio allocation. In allocating to all the model/market combinations, long term correlations of the components are evaluated to detect obvious over allocations of risk and adjusted accordingly.

Background

Robert J. O'Brien Jr. - Chief Executive Officer Mr. O'Brien heads the executive management committee at County Cork. Prior to founding County Cork, Mr. O'Brien served as Vice Chairman and as President of R.J. O'Brien & Associates in Chicago, the largest independent Futures Clearing Merchant in the United States. Mr. O'Brien is currently a member of the Board of Directors of R.J. O'Brien. Mr. O'Brien holds a B.A. in Economics from the University of Notre Dame, and a J.D. from Loyola University Chicago.

Thomas W. Senft - President / Chief Operating Officer Mr. Senft is a member of the executive management committee and is responsible for the CTAâ€™s operations and risk management. Mr. Senft brings nearly 35 years of futures industry experience, having served in top executive management positions with various brokerages and FCMs. Mr. Senft holds a B.S. in Finance from Indiana University.

Performance

Monthly Performance Since Oct 2018 (A Portion of this Performance is based on Proprietary Trading)

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	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	ROR	Max DD
2025	2.42%	-1.36%	3.82%	5.04%	-2.69%	-1.70%	-5.10%	-2.73%	1.76%				-1.01%	-11.70%
2024	-0.49%	-0.47%	-2.39%	-1.12%	2.72%	-0.84%	-2.90%	-2.39%	3.57%	3.13%	-3.72%	1.50%	-3.67%	-7.72%
2023	0.33%	2.77%	2.48%	1.45%	-0.80%	-2.33%	3.72%	0.44%	-2.54%	1.80%	-0.02%	-3.88%	3.16%	-4.65%
2022	-1.51%	3.69%	0.39%	2.26%	-0.28%	-0.99%	-2.25%	-2.12%	-0.38%	-1.53%	-3.01%	0.58%	-5.23%	-10.12%
2021	-2.51%	3.85%	0.60%	2.09%	-2.46%	-0.13%	-2.15%	-0.12%	3.42%	-1.87%	3.06%	-0.99%	2.51%	-4.80%
2020	8.31%	0.67%	5.53%	-1.36%	0.02%	-4.03%	5.87%	-0.32%	1.56%	0.82%	0.86%	3.32%	22.66%	-5.32%
2019	0.36%	-2.09%	-0.63%	-2.59%	1.52%	0.60%	-2.37%	-1.25%	-0.87%	-2.17%	-1.29%	1.04%	-9.41%	-10.67%
2018										3.47%	3.60%	0.50%	7.73%	0.00%

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

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Footnotes

1. The Annualized Compounded ROR ("Rate of Return") is the average return of an investment over a number of years. It smoothes out returns by assuming constant growth. 2. Peak to Valley Drawdown ("Maximum Drawdown") is the worst drawdown % the time-period. 3. Sharpe Ratio uses a 4% Risk Free ROR (Rate of Return) 4. Calmar Ratio Uses last 36 months of Data 5. The hypothetical growth of $1,000

RISK DISCLOSURE

THIS MATTER IS INTENDED AS A SOLICITATION FOR MANAGED FUTURES. THE RISK OF TRADING COMMODITY FUTURES, OPTIONS, FOREIGN EXCHANGE ('FOREX') AND/OR CRYPTOCURRENCIES 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.