Tracking CTAs since 1994
Bald Eagle Capital Strategies, LLC
Osprey Program - Under Construction
Principal(s): William Reavis
Strategy: Trend Following
Investment Restrictions: 4.7 Exempt
Statistical Reports are Subscription Based
Trading Description, Risk Strategy & Background
The Osprey program currently trades a diversified portfolio of approximately 20 futures contracts. The Osprey program is a long to medium term trend following system. Osprey employs 85% systematic and 15% discretionary trading approach. Money management is an important part of the Osprey system and stops are entered with the entry of all positions. It tends to do best in high volatility or outlier market environments, which makes it a great addition to the standard 60/40 stock and bond portfolio. It has a zero to slightly negative correlation to the S&P 500. It has also had a low correlation to the NewEdge CTA Index. Osprey trades in all major sectors of the economy. The program trades futures contracts on US exchanges.
Reavis is a military veteran (Navy) with advanced technical training. He served in the armed forces from September of 1998 to September of 2004. While in the military, Mr. Reavis received many awards including the Navy/ Marine Corp. Achievement Medal for his service in Operation Iraqi Freedom, as well as numerous Letters of Commendation from his Commanding Officer. His technical military training has helped him throughout his career within the financial industry. Prior to launching BECS, Mr. Reavis worked for Worldwide Futures Systems (“WWFS”) which operated as an Independent Introducing Broker (“IIB”). He joined WWFS as head of system-based trading operations during March of 2004 and remained with the company until December of 2011. In this role Reavis was responsible for system based trading as well as the regulatory compliance and operational matters connected to those activities. Mr. Reavis transitioned from WWFS and joined Postrock Brokerage, LLC (“PRB”) in January of 2012 when WWFS became a division of PRB. Mr. Reavis’ responsibilities shifted slightly after joining PRB yet he still worked as head of system based trading operations. More specifically Bill became responsible for ensuring that clients trading under the WWFS DBA always maintained efficient execution with low latency within the systems they were executing through PRB. Mr. Reavis was also responsible for ensuring customer accounts were properly serviced and was liaison for 3rd party brokers utilizing the firm’s designed systems. During this time period Mr. Reavis was the letter of direction based execution trader over many different systematic trading programs offered through PRB. While with PRB, Mr. Reavis was also involved with the development of a Commodity Trading Advisor (“CTA”) business called Worldwide Capital Strategies (“WCS”). WCS was put together in order to develop a discretionary trading business that was complimentary to the existing systems related trading being done via PRB. Bill was the head trader at WCS and was responsible for all trading decisions related to the strategies implemented by the CTA. He remained with WCS until November of 2015 when he left to head Argo Futures division in Chicago, a role in which he was tasked with developing the managed futures division at the firm. Bill graduated with honors from Western Illinois University in Business Management and Economics. Mr. Reavis also has served as President of the Veterans Club and also sat on the academic review board.
Performance
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ROR* | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 1.85% | 9.81% | 5.89% | -3.56% | 0.32% | 2.19% | 15.49% | -1.69% | 3.30% | 1.61% | -11.91% | 11.64% | 34.94% | -11.91% |
Track Record Compiled By: N/A
Accounting Notes: Pro-Forma rates of return have been calculated using actual client trading performance, 50% of actual brokerage commissions, a 1% monthly management fee, and a 10% performance fee. Rates of return are based on an initial trading level of $150,000 - which is the minimum for new investors in this trading program. The trading level was increased to $225,000 in October 2020 and increased again to $300,000 in June 2023. Trading level is fixed using Constant Nominal Account Size
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. THERE IS A RISK OF LOSS IN FUTURES TRADING.>
Risk Disclosure
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.