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The Bensboro Company, LLC - Bensboro Seasonal Futures Fund, LP

Principal(s): Charles W Robinson III and T. Matthew Trump
Strategy: Seasonal Futures Spreads
Download Document. (2021-12-31)
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Investment Restrictions: Accredited Investors Only++
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120 East Basse Road, #102
San Antonio, TX 78209 USA
(210) 881-0908

Main E-Mail: [email protected]
Marketing E-Mail: [email protected]
Administrative E-Mail: [email protected]

Statistics & Program Information

Mar Return -0.73%	Worst Drawdown ⁽²⁾ -19.32%	Minimum Investment $100,000
YTD Return 0.45%	Losing Streak ⁽³⁾ -0.73 %	AUM⁽⁵⁾ $3,962,623
Annual CROR:¹ 3.88%	Sharpe Ratio ⁽⁴⁾ 0.33	Calmar Ratio ⁽⁶⁾ N/A

Trading Methodology	Style Sub-Categories	Trading Style
Market Sector	Holding Period	Geographic Sector Contracts:

Start Date Jan-2015	Currency US Dollar	Margin ⁽⁷⁾ 5-15%
New Money Yes	AUM ⁽⁵⁾ $3,962,623	Management Fee 2.00%
Min Investment $0	Annual CROR ¹ 3.88%	Incentive Fee 20.00%
Fund Minimum $100,000	Losing Streak ⁽³⁾ -0.73 %	Other Fees 0
Notional Funds No	Worst Drawdown ⁽²⁾ -19.32 %	Avg Comm ⁽⁸⁾ $0.00
NFA Member Yes	Sharpe Ratio ⁽⁴⁾ 0.33	Max Comm ⁽⁹⁾
NFA Number 0481286	Calmar Ratio ⁽⁶⁾ N/A	Round Turns ⁽¹⁰⁾ 1,300

Starting Date: Jan-2015	Currency: US Dollar
Open to New Investors: Yes	Current Assets: $3,962,623
Open to US Investors: Yes	Annual CROR: 3.88%
Minimum Fund Investment: $100,000	Worst Monthly Drawdown: -19.32
Minimum Managed Account: $N/A	Current Losing Streak: -0.73 %
Domocile: US	Calmar: N/A
Subscriptions: N/A	Sharpe Ratio: 0.33
Redemptions: 95% within 10 days, 30 day advance notice	US Attorney: Howard and Howard Attorneys PLLC
Lock Up: 90 day	Offshore Attorney: Not Listed
Hurdle Rate: N/A	Administrator: NAV Consulting, Inc.
Administraton Fee: 0.00%	Prime Broker: Not Listed
Management Fee: 2.00%	Auditor: Summit LLC
Incentive Fee: 20.00%	NFA Member: Yes
Selling Fee: 0.00%	FINRA Member: No
Other Fees: 0	Other Memberships: NFA# P104683

Type of Fund: Futures Fund	Domicile: US	Strategy: Futures Strategies

Track Record Prepared By: N/A

Correlations:

Trading Description, Risk Strategy & Background

Trading Description

OBJECTIVE: To produce low-correlation returns using a seasonal approach to futures spread trading.

PHILOSOPHY: We believe futures generally provide low correlation compared to other asset classes. Spreads generally provide even lower correlation to other asset classes - even when compared to most managed futures strategies which are typically trend-following. Seasonality can significantly shape sentiment and short-term flows, thus influencing the market over the short-term. Diversification across many categories and instruments generally results in risk mitigation.

STRATEGY: The trading strategy is to trade futures contracts using seasonal spreads, in a diversified manner. No equity index futures, crypto-currency futures, options on futures, or individual security futures will be used.

Risk Strategy

PROCESS: We target total margin commitments generally between 5-20% of assets, with a target of 12.5%. We typically employ loss limit targets on individual spread positions and maximum allocations for each category. We use spreads across a wide variety of instruments and categories with varying time horizons and sides (bull, bear, and inter-commodity spreads) in an attempt to aid in risk mitigation through diversification.

Background

Charles W Robinson III, CFA and Thomas M Trump, CMT are Managing Members of The Bensboro Company, LLC and Bensboro Advisors, LLC. The Bensboro Company, LLC, a Commodity Pool Operator ("CPO"), and Bensboro Advisors, LLC, a Commodity Trading Advisor ("CTA") are registered with the Commodity Futures Trading Commission ("CFTC") and are members of the National Futures Association ("NFA").

Performance

Monthly Performance Since January 2015

	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec	ROR	Max DD
2024	-0.20%	1.39%	-0.73%										0.45%	-0.73%
2023	1.20%	-0.13%	2.85%	-6.84%	2.93%	1.60%	-1.58%	1.97%	6.12%	1.09%	1.19%	0.54%	10.92%	-6.84%
2022	1.88%	-0.86%	-3.99%	6.00%	0.96%	2.63%	0.04%	-4.82%	-1.75%	1.35%	6.45%	2.20%	9.86%	-6.49%
2021	2.08%	-2.58%	0.92%	0.76%	-1.94%	-3.06%	0.77%	-2.83%	0.32%	-2.68%	-1.76%	0.15%	-9.58%	-11.56%
2020	2.86%	2.11%	0.53%	4.31%	-1.52%	-0.73%	1.33%	-1.96%	-2.90%	-2.01%	-1.28%	0.92%	1.4%	-8.78%
2019	1.98%	3.39%	5.69%	-0.51%	3.33%	0.34%	0.82%	2.28%	-2.03%	0.36%	2.00%	1.29%	20.41%	-2.03%
2018	0.75%	1.16%	0.42%	-0.25%	2.75%	0.22%	1.20%	2.97%	0.74%	4.57%	1.18%	0.41%	17.25%	-0.25%
2017	2.82%	-0.68%	-6.84%	7.08%	-1.45%	-5.03%	-4.87%	-0.90%	-4.12%	-0.18%	2.31%	0.78%	-11.3%	-16.33%
2016	-6.34%	-3.56%	2.18%	-3.43%	7.06%	-0.82%	2.87%	4.24%	0.91%	2.15%	0.80%	-2.45%	2.86%	-10.87%
2015	3.08%	3.90%	0.76%	-3.17%	-0.27%	-1.16%	-3.44%	-1.23%	-4.74%	-2.65%	3.24%	4.61%	-1.61%	-15.58%

Annual Performance

Years	2015	2016	2017	2018	2019	2020
ROR	-1.61%	2.86%	-11.30%	17.25%	20.41%	1.40%
Max DD	-15.58%	-10.87%	-16.33%	-0.25%	-2.03%	-8.78%

Years	2021	2022	2023	2024 YTD
ROR	-9.58%	9.86%	10.92%	0.45%
Max DD	-11.56%	-6.49%	-6.84%	-0.73%

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

VAMI, Assets under Management & Worst Drawdown

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Monthly Returns

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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, 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.

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