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        PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.
Kim Avery July 31, 2025

Top Performaners October 2025

World Cup Advisors | Daniele Sambataro - Momentum Selection | +28.47%
  Visit Daniele's Profile Page
World Cup Advisors | John Bannan - Comhla Prophetick | +13.98%
  Visit John's Profile Page
QQFund.com LLC | Alpha Beta Program | +8.25%
  Visit QQFund's Profile Page
QCM | Nexus One DivX | +7.55% | QEPs Only
  Visit QCM's Profile Page
Wharton Capital Mgt | Ag Futures Program | +7.38% | QEPs Only
  Visit Wharton's Profile Page

Download October 2025 Ranking Report
Kim Avery September 3, 2025

Think Probabilities and Not Predictions
(Embracing Uncertainty with Probabilities)

By Aref Karim - Ershadul Haq - Raami Karim | August 2025

The Certainty Illusion
When people talk about markets, they often default to prediction. Will rates rise? Is a correction coming? Will the dollar top out? These questions reflect an underlying human need for certainty, the belief that someone, somewhere must know what happens next. It is a deeply ingrained instinct, rooted in our desire for control in an unpredictable world. But markets do not operate on certainties. They are complex, adaptive systems, shaped by flows of information, shifting sentiment, evolving policy, and positioning dynamics. They do not follow scripts. They react, recalibrate, and surprise.

Read the Full Report
Kim Avery August 25, 2025

Top Performaners July 2025

World Cup Advisors | Jurg Diemand - Volatility Patterns | +12.55%
  Visit Jurg's Profile Page
Armington Capital | Trading Program | +9.06%
  Visit Armingtons's Profile Page | QEPs Only
OpenSide Capital | Managed Program | +8.80%
  Visit OpenSide's Profile Page
Ditsch Trading, LLC | Discretionary Program | +5.16%
  Visit Ditsch's Profile Page
World Cup Advisors | Daniele Sambataro - Momentum Selection | +4.80%
  Visit Daniele's Profile Page

Download July 2025 Ranking Report
Kim Avery July 31, 2025

CTA Summit 2025

The CTA Summit 2025 will be taking place at the Union League Club of Chicago, Chicago, IL on Septemember 11, 2025. CTA Summit Details

Dennis Rivera, Founder & Managing Member of Advanced Alpha Advisors, LLC is a Featured Speaker. Dennis has a number of programs listed on Autumn Gold including:
Advanced Alpha's ART Short Term Systeamtic SP - Volatility Class, and Advanced Alpha's ART S-Term Defensive Program

Kim Avery July 31, 2025

Top Performaners June 2025

World Cup Advisors | Ivan Scherman - Emerge Funds | +14.88%
  Visit Ivan's Profile Page
World Cup Advisors | John Bannan - Comhla Prophetick | +14.32%
  Visit John's Profile Page
Veerpoint Capital LLC | ContraCOT Program (P) | +12.28%
  Visit Veerpoint's Profile Page
OpenSide Capital, LLC | Managed Program | +11.22% | QEPs Only
  Visit OpenSide's Profile Page
AIS Capital Mgt | MAAP (2X- 4X) | +9.31% | QEPs Only
  Visit AIS Capital's Profile Page

Download June 2025 Ranking Report
Kim Avery June 2, 2025

Early May Update

After a strong April, Veerpoint Capital's proprietary trading was +5.37% in May bringing the YTD number to +29.01%. Veerpoint opened their first client account on May 20, 2025. Visit Veerpoint's CTA Profile Page

HiProb Capital’s Neutral Plus Program showed a 0.62% return for May bringing the YTD number to +12.24%. Visit HiProb's CTA Profile Page

Kim Avery June 28, 2025

Top Performaners May 2025

Comhla LLC | Artemis 3X | +18.52% |
  Visit Comhla's Profile Page
Schindler Capital Mgt | Dairy Advantage Program | +7.62%
  Visit Schindler's Profile Page
Deep Field Capital AG | ST Absolute Return | +7.13% | QEPs Only
  Visit Deep Fields's Profile Page
FTC Capital GmbH | FTC Gideon 1 | +7.05% | Non US Investors Only
  Visit FTC's Profile Page
Advanced Alpha Advisors | ART Short Term Systematic SP | +6.96% | QEPs Only
  Visit Advanced Alpha's Profile Page

Download May 2025 Ranking Report
Kim Avery June 2, 2025

Early May Update

After a strong April, Veerpoint Capital's proprietary trading was +5.37% in May bringing the YTD number to +29.01%. Veerpoint opened their first client account on May 20, 2025. Visit Veerpoint's CTA Profile Page

HiProb Capital’s Neutral Plus Program showed a 0.62% return for May bringing the YTD number to +12.24%. Visit HiProb's CTA Profile Page

Kim Avery June 2, 2025

April 2025 CTA Highlights

One of our newest CTA listings, Veerpoint Capital returned +11.42% in April 2025 (proprietary trading). We’re pleased to introduce their manager and strategy. The ContraCOT program, managed by Adam Rude, is a systematic global macro futures strategy that combines technical analysis with insights from the CFTC’s Commitments of Traders (COT) reports. It seeks asymmetric risk-reward opportunities by analyzing market participation and identifying over-concentrated positioning. The program trades over 30 U.S. commodity and financial futures markets and is designed to remain uncorrelated to traditional asset classes and other CTA strategies. After two years of proprietary trading and rising allocator interest, Mr. Rude registered Veerpoint Capital as a CTA in January 2025 and began managing client assets in May.
Visit Veerpoint's CTA Profile Page

Several options traders reported strong April performance, led by HiProb Capital’s Neutral Plus Program with a +7.6% return. Below are highlights from HiProb’s commentary:

“Risk management was central to our success in April. We built a precisely hedged portfolio using carefully selected, highly correlated options, allowing us to minimize risk while capturing market movement within a high-probability range. As volatility evolved, we adjusted in real time, shifting our positioning to maintain the edge while avoiding unnecessary risk.”

HiProb’s Neutral strategies exclusively use near-expiration index option spreads to generate consistent absolute returns. Each spread is market-neutral and Vega-neutral, with offsetting long and short positions. Their patent-pending techniques identify mispriced spreads and execute only high-probability trades where reward meaningfully outweighs risk.
Visit HiProb's CTA Profile Page

Market Commentary – Courtesy of Buckingham Global Advisors
April was marked by early volatility as renewed U.S.–China tariff tensions triggered a sharp selloff. The S&P 500 fell over -11% before recovering to close down just -0.76%. The Dow dropped -3.17%, while the Nasdaq rose +0.85% on strong tech earnings. Buckingham Performance: Buckingham Global Advisors managed the turbulence well. The WEP strategy returned +0.11%, and SEP gained +0.72%, both outperforming major indices. Proactive risk management, including timely exposure reductions and defensive positioning, helped protect capital and capture modest gains in one of the year’s most volatile months.
Visit Buckingham's CTA Profile Page

Kim Avery June 2, 2025

Top Performers April 2025

Opus Futures | Macro Monitor | +15.51% |
  Visit Opus Futures' Profile Page
Chelton Wealth | Balanced Compounding | +13.45% | Non US Investors Only
  Visit Chelton Wealth's Profile Page
Veerpoint Capital | ContraCOT (Prop Trading) | +11.42% |
  Visit Veerpoint's Profile Page
FALGOM AG | TARO© Diversified | +11.06% | Non US Investors Only
  Visit FALGOM's Profile Page
Deep Field Capital | STAR | +10.21% | QEPs Only
  Visit Deep Field's Profile Page

Download April 2025 Ranking Report
Kim Avery May 1, 2025

Top Performers March 2025

Typhon Capital Mgt | Vulcan Metals Ultra | +16.94% | QEPs Only
  Visit Typhon's Profile Page
AIS Capital Mgt | MAAP (2X-4X) | +12.29% | QEPs Only
  Visit AIS' Profile Page
Blue Creek Capital Mgt | Metals Alpha | +9.44% | QEPs Only
  Visit Blue Creek's Profile Page
AG Capital Investments | Global Macro Program | +9.37% | QEPs Only
  Visit AG Capital's Profile Page
Deep Field Capital | Systematic Volatility Arbitrage | +7.46% | QEPs Only
  Visit Deep Field's Profile Page

Download March 2025 Ranking Report
Kim Avery April 1, 2025

Top Performers February 2025

Quanify GmbH - Chelton Wealth | Balanced Compounding | +14.68% | Non US Investors Only
  Visit Chelton Wealth's Profile Page
Opus Futures | Macro Monitor Program | +6.84%
  Visit Opus Futures' Macro Monitor Program Profile Page
Advanced Alpha Advisors | ART ST Systematic SP - Velocity | +6.44% | QEPs Only
  Visit Alpha Adviosrs's RT ST Systematic SP - Velocity Profile Page
Paraimbal, LLC | Paraimbal Program | +5.96%
  Visit Paraimbal's Profile Page

Download February 2025 Ranking Report
Kim Avery March 3, 2025

Top Performers January 2025

Mulvaney Capital Mgt | Managed Futures Program +12.45% | QEPs Only
  Visit Mulvaney's Profile Page
Blue Creek Capital Mgt | Global Opportunities Program | +10.46% | QEPs Only
  Visit Blue Creek's Global Opportunities Profile Page
Blue Creek Capital Mgt | Metals Program | +10.35% | QEPs Only
  Visit Blue Creek's Metals Program Profile Page
AIS Capital Mgt | MAAP (2X- 4X) | +9.45% | QEPs Only
  Visit AIS's Tactical Commodity Profile Page
QuantOn Solutions OCPAS | Managed Futures Index | +8.6% | QEPs Only
  Visit QuantOn Solutions's Profile Page

Download January 2024 Ranking Report
Kim Avery February 3, 2025

Top Performers December 2024

Advanced Alpha | ART ST Systematic | +14.21% | QEPs Only
  Visit Advanced Alpha's Profile Page
Mulvaney Capital | Managed Futures Program | +12.76% | QEPs Only
  Visit Mulvaney's Profile Page
EMC Capital Advisors | Classic Program | +8.65% | QEPs Only
  Visit EMC's Classic Program Profile Page
EMC Capital Advisors | Tactical Commodity | +8.56% | QEPs Only
  Visit EMC's Tactical Commodity Profile Page
Quantitative Investment Mgt | Global Program | +5.97% | QEPs Only
  Visit Quantitative's Profile Page

Download December 2024 Ranking Report
Kim Avery January 2, 2025

Top Performers November 2024

Katonah Eve LLC | Enigma CME | +28.03% | Prop Trading | QEPs Only
  Visit Katonah Eve's Profile Page
Purple Valley Capital | Diversified Trend 1 Program | +11.51% | Accredited or QEPs Only
  Visit Purple Valley's Profile Page
Melissinos Trading | Eupatrid | +9.87% | QEPs Only
  Visit Melissino's Profile Page
O'Brien Investment Group | Quantitative GM Futures | +7.47% | QEPs Only
  Visit O'Brien's Profile Page
Mulvaney Capital Mgt | Managed Futures Program | +6.99% | QEPs Only
  Visit Mulvaney's Profile Page

Download November 2024 Ranking Report
Kim Avery December 1, 2024

Top Performers October 2024

Alleman Capital Mgt | AC Crude Hedge | +8.51%
  Visit Alleman's Profile Page
Advanced Alpha | ST Systematicc - Velocity Program | +7.88% | QEPs Only
  Visit Advanced Alpha's Profile Page
QDRA Pty Ltd | Systematic Commodities | +7.77% | QEPs Only
  Visit QDRA's Profile Page
PGM Asset Mgt | Trident Program | +6.66% | QEPs Only
  Visit PGM's Profile Page
Quantitative Investment Mgt | Global Program | +5.13% | QEPs Only
  Visit Quantitative's Profile Page

Download October 2024 Ranking Report
Kim Avery October 30, 2024

Top Performers September 2024

AG Capital | Global Macro | +14.68% | QEPs Only
  Visit AG Capital's Profile Page
Astute Group | Pulse Program | +11.93%
  Visit Astute's Profile Page
Blue Creek Capital Mgt | Global Opportunities | +10.41% | QEPs Only
  Visit Blue Creek's Profile Page
Typhon Capital Mgt | Vulcan Metals Ultra | +9.63% | QEPs Only
  Visit Typhon's Profile Page
Blue Creek Capital Mgt | Metals Alpha | +8.81% | QEPs Only
  Visit Blue Creek's Profile Page

Download September 2024 Ranking Report
Kim Avery Oct 1, 2024

Top Performers August 2024

Schindler Capital Mgt | Dairy Advantage | +13.73%
  Visit Schindler's Profile Page
Moddco Capital | MCA Strategy | +12.48%
  Visit Moddco's Profile Page
Advanced Alpha Advisors | ART Short Term | +12.47% | QEPs Only
  Visit Alpha Advisor's Profile Page
Numberline Capital Partners | Macro Risk | +7.78%
  Visit Numberlines's Profile Page

Download August 2024 Ranking Report
Kim Avery June 11, 2024

Buckingham Q&A

I started as a software programmer in various industries before earning my MBA from the University of Chicago during the 2008 financial crisis. Despite challenging job prospects post-MBA, I witnessed significant market movements, inspiring my focus on trading index options. Utilizing the efficient market hypothesis, my strategy centers on exploiting inefficiencies in the S&P 500's derivatives market.

During my time at the University of Chicago, I developed an option-based quant replication model under Prof. Pastor Lubes. This model, refined over the years, has been the basis for managing client assets since March 2015, leading to me registering Buckingham Global Advisors, LLC as a CTA in July 2015.

Download Buckingham's Full Q&A
Kim Avery April 2, 2024

Top Performers April 2024

Moddco Capital Associates | MCA Strategy | +22.31%
  Visit Moddco's Profile Page
AG Capital Investments | Global Macro | +17.10% | QEPs Only |
  Visit AG Capital's Profile Page
Comhla LLC | Artemia | +14.25%
  Visit Comhla's Profile Page
QDRA Pty Ltd| QDRA Systematic Commodities | +10.30%
  Visit QDRA's Profile Page
EMC Capital Advisors | Tactical Commodity | +10.15% | QEPs Only
  Visit EMC's Profile Page

Download Apr 2024 Ranking Report
Kim Avery May 1, 2024

Top Performers March 2024

Mulvaney Capital Mgt | MF Program | +51.08% | QEPs Only
  Visit Mulvaney's Profile Page
Purple Valley Capital, Inc | Diversified Trend 1 | +24.03% |
  Visit Purple Valley's Profile Page
AG Capital Invetments | Global Macro | +21.20% | QEPs Only
  Visit Ag Capital's Profile Page
QDRA Pty Ltd | Systematic Commodities | +20.03% |
  Visit QDRA's Profile Page
Advanced Alpha Advisors | ART ST Systematic SP Volatility | +12.80% | QEPs Only |
  Visit Advanced Alpha's Profile Page

Download March 2024 Ranking Report

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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.

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