Davis Commodities, LLC
Macro Trading Program
Principal(s): Stephen Davis
Strategy: Fundamental / Macro / Currencies, Energies, Financials & Metals
Statistical Reports are Subscription Based
Trading Description, Risk Strategy & Background
The focus of the trading program is a broad scope including: interest rates, currencies, metals, and energy, but does occasionally trade other mar- kets. Mr. Davis develops trading strategies that may include long or short futures positions as well as intra and inter-market spread positions. Options are frequently used to manage risk exposure or generate additional opportunities. Technical or chart analysis is generally used only to help determine entrance and exit points as Mr. Davis believes that fundamentals ultimately determine price movement.
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Stephen Davis is the owner and trading principal of Davis Commodities, LLC. Stephen started his career on the floor of the Chicago Board of Trade as a runner for Refco, Inc during a summer internship. After graduation in 1994 from the University of Tennessee, he returned to Memphis to work for Refco. The affiliation of the Memphis office with Sparks Companies' research offered him the opportunity to learn the complex fundamental structure of the grain, oilseed, and livestock markets. In 2006, after eleven years in brokerage, Stephen went to work for Dicken Commodities, Inc. to gain experience in fund trading and asset management.
During his time at Dicken, Stephen learned the art of managing a large commodity portfolio. Work at Dicken Commodities gave him plenty of opportunity to hone his trading skills all while helping to administer the day to day activities of a large asset manager. While at Dicken his responsibilities included: research, trade execution, trade idea development, and risk management. In 2006, Stephen began trading his own account and added other discretionary accounts over the years. Starting in 2017, he worked to launch Davis Commodities, LLC as a full-time CTA.
Performance
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ROR | Max DD | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.48% | -1.12% | 2.97% | 1.38% | -0.35% | -4.70% | 1.07% | – | – | – | – | – | 1.53% | -5.03% |
| 2025 | -0.76% | 0.07% | 4.44% | 0.64% | -0.58% | 0.28% | -2.57% | 2.37% | 5.62% | 2.58% | -0.50% | 2.63% | 14.84% | -2.86% |
| 2024 | -1.22% | -3.87% | -4.10% | 0.52% | -1.58% | -2.87% | 0.72% | 0.88% | 1.04% | 3.06% | -3.55% | 0.22% | -10.51% | -12.49% |
| 2023 | -0.66% | -1.53% | 1.23% | -3.40% | -2.78% | -2.42% | -1.79% | -0.66% | 0.40% | 1.30% | -1.72% | 1.40% | -10.27% | -11.50% |
| 2022 | 3.49% | 3.88% | 0.79% | 2.00% | -0.17% | 3.31% | 1.25% | 0.90% | -1.46% | -0.13% | 0.25% | 0.50% | 15.46% | -1.59% |
| 2021 | 1.64% | 3.76% | 0.26% | -1.09% | 1.55% | 0.52% | 2.33% | -0.70% | 4.92% | 2.27% | -2.22% | 0.96% | 14.91% | -2.22% |
| 2020 | -2.50% | -2.27% | -1.56% | -0.44% | -0.09% | 0.65% | 8.37% | 2.60% | -6.43% | -0.17% | 4.16% | 2.45% | 4.08% | -6.70% |
| 2019 | 3.17% | 1.34% | -2.35% | -0.91% | 0.05% | -1.14% | -1.37% | 0.88% | -2.86% | 0.47% | 0.05% | 2.05% | -0.79% | -7.50% |
Track Record Compiled By: N/A
Accounting Notes: Pro-Forma client results adjusted for a 2% management fee and a 20% incentive fee.
PAST PERFORMANCE DOES NOT GUARANTEE FUTURE SUCCESS. THERE IS A RISK OF LOSS IN FUTURES TRADING.