Pawberry LLC – Commodity Trading Advisor

Commodity Trading Advisor (CTA)

About Pawberry LLC

Pawberry LLC, founded by Stephen Beers in July 2014, is a Commodity Trading Advisor (CTA) that is registered with the Commodity Futures Trading Commission ("CFTC") and is a member of the National Futures Association ("NFA"). The Pawberry MultiStrat Program is only offered to Qualified Eligible Persons, as defined in CFTC Reg. 4.7.

Manager Profile

Stephen Beers

Steve is a Trading Principal of Pawberry LLC and became registered as an associated person of Pawberry LLC on September 2, 2015. He has been an independent, proprietary trader in equities and derivatives for over seventeen years. After graduating from Duke University with a Bachelor of Science in Civil and Environmental Engineering in 1997, Steve joined Susquehanna International Group (“SIG”), a global investment, trading, and technology firm. Steve initially worked as an options assistant on the AMEX and later traded as a market maker on SIG’s Nasdaq desk. After leaving SIG in 2004, he went on to develop his own trading models, trained other traders, and launched his own proprietary equity trading firm in 2006. Steve has traded futures on a proprietary basis since 2012. After developing different trading programs and successfully trading them, he launched Pawberry LLC.

MultiStrat Program Strategy Profile

The MultiStrat Program (“MultiStrat”) is a diversified portfolio of automated strategies that are designed to perform well across a broad spectrum of market conditions. Pawberry provides strategies with high edge, low correlation and properties that should exhibit conditional negative correlation. The MultiStrat allows clients to participate in all strategies developed by Pawberry. It currently trades two fully automated groups of strategies. The first group is based on trend following in the S&P 500 E-Mini. The second group focuses on the premium relationship between spot Vix and the front month Vix Future (Vx). Manual hedging strategies are employed on both groups when trend reversal points are identified on the NQ, S&P and Russell futures markets. Each group of strategies performs best in different market environments. As strategies are added in, the portfolio will be rebalanced to adjust for risk. Occasionally, options and index futures spreads are traded to lower overall portfolio risk.

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MultiStrat Program Client Performance

The risk of loss in commodities can be substantial. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. You should therefore carefully consider whether such trading is suitable for you in light of your financial condition.

Notes: Monthly performance is net of a 1% per annum monthly management fee and a 20% quarterly incentive fee.

CTA Index Source: https://cib.societegenerale.com/en/sg-prime-services-indices/ The SG CTA Index is a non-investable index that tracks the largest (by AUM) twenty CTA’s. It does not reflect the performance of the managed futures space as a whole, nor the performance of a particular trading advisor.