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| Manager Name |
Tanyard Creek Capital |
| Program Name |
Livestock Program |
| Minimum Investment |
100,000 USD |
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| Strategy |
Discretionary / Multi-Strategy |
| Markets |
Livestock |
| Restrictions |
None |
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Tanyard Creek Capital
performance report by email
includes free access to the alternative investment database
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The program trades Lean Hogs,
Live Cattle, Feeder Cattle,
and Pork Bellies. The
principle, Randall Cleland,
attempts to capture trends in
outright long/short futures
and futures spreads based on
a fundamental analysis of the
market. A small percentage
of the portfolio may also be
allocated to long-only options
or option spreads (never to
outright short options positions).
Tanyard Creek Capital, LLC (TCC)
is responsible for determining
and implementing the trading
strategy. The trading strategy
draws upon the judgment and
experience of the Mr. Cleland,
as well as on his knowledge
of fundamental technical factors
affecting various commodity
markets. The trading strategy
attempts to identify optimal
trading opportunities. The approach
is primarily guided by observation
of spreads within a particular
market. It is the assumption
of TCC that, by studying and
investing in the spreads between
contract months, commodities,
and various commodity classes,
an investor can earn substantial
profits with acceptable risks.
TCC believes that the spread
markets provide numerous trading
opportunities as speculators,
hedgers, and commercial interests
move commodity positions from
one contract month, commodity,
or commodity class to another.
TCC may refine or change its
trading approach (including
enhancements or changes to the
trading system or deletion of
commodity interests traded)
at any time without prior notice.
The Program’s portfolio is structured
to include various outright
positions and spread positions.
The Program’s return objectives
are 25-35% with potential annual
drawdowns contained under 15-20%.
The average margin-to-equity
ratio is approximately 10% -
30%.
Past results are not necessarily
indicative of future results.
The risk of loss in trading
futures, options and off-exchange
forex can be substantial.
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Markets and Trading
Activity |
This Program may trade futures
and option contracts in any
market traded on a U.S. Futures
exchange. To effectively capture
trends over all markets, the
Program requires no less than
$50,000 for each account and
anticipates approximately 2,500
round turns per $1,000,000.
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Management Information:
Randall Cleland |
The Principal of Tanyard Creek
Capital is Randall Cleland.
Randall Cleland is from Atlanta,
Georgia. He attended the University
of Georgia, from which he holds
both a BS (1993) and MS (1996)
in Agricultural and Applied
Economics. During his academic
career, he gained extensive
experience developing quantitative
models and forecasting economic
trends in agriculture, and his
work has been published in two
peer reviewed journals.
In December 1996, he joined
Sara Lee Corporation’s trading
division where he held the title
of Trading Manager and Staff
Economist until he left the
firm in December 2000. During
this time, Randall learned the
meat business from the ground
up, negotiating purchases of
pork, beef, and poultry for
national brands like Sara Lee,
Hillshire Farm, Jimmy Dean,
and Ball Park. In addition to
procuring fresh meat, Randall
managed the company’s freezer
program, presented commodity
programs to corporate clients,
and developed economic forecasts
to support the trading group’s
fundamental direction.
Randall became a registered
Associated Person with the Rosenthal
Collins Group LLC (“RCG”) in
Chicago, Illinois on January
16, 2001. During this period,
Mr. Cleland was also a registered
Floor Broker at the Chicago
Mercantile Exchange from May
9, 2001 through September 30,
2003.
After three years at the CME
and a brief hiatus, he returned
to Sara Lee in December 2003
where he held the title of Commodity
Risk Manager, Meats until his
departure in December 2006.
As Commodity Risk Manager, Randall
managed the company’s $750 million
annual commodity meat exposure,
running the hedge book for this
massive trading group. As before,
his focus was on the livestock-based
commodities and their inherent
volatility.
While still an Associated Person
with RCG, Randall became registered
as the Principal and Associated
Person of Tanyard Creek Capital
on September 18, 2007. His trading
strategy remains focused on
sound fundamental and technical
analysis to support the needs
of his corporate and private
clients. Over the years, he
has developed an in-depth knowledge
of the politics and people that
drive the livestock/meat business.
The descriptions above are from
the manager’s disclosure document.
THE RISK OF LOSS IN TRADING
FUTURES, OPTIONS AND OFF-EXCHANGE
FOREX CAN BE SUBSTANTIAL.
PAST RESULTS ARE NOT NECESSARILY
INDICATIVE OF FUTURE RESULTS.
PLEASE READ THE CTA'S RISK DISCLOSURE
DOCUMENT CAREFULLY BEFORE INVESTING
MONEY.
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FUTURES CTA DATABASE
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at
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or call 1-800-998-7870
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