Northern Trace

What Northern Trace does

Northern Trace Capital LLC is a Columbus, Ohio-based commodities asset management firm founded in 2017 by CIO Trevor Woods to provide institutional investors with diversified exposure to commodity futures markets. The firm operates as a Commodity Pool Operator and Commodity Trading Advisor registered with the CFTC and a member of the NFA, restricting its clientele to Qualified Eligible Persons under CFTC Regulation 4.7. It offers three core strategies — a Master long/short futures strategy, a Co-Investments Strategy, and a Long Only Strategy — covering more than 15 commodities across energy, metals, agricultural and softs, emissions, and bulks, delivered through commingled funds and customized solutions.

The firm's investment process combines deep fundamental analysis and discretionary insight with a proprietary data science and machine learning layer designed to separate signal from noise and identify predictive data inputs. The leadership team includes senior operators with prior tenures at Morgan Stanley, JP Morgan, Credit Suisse, Enron, FrontPoint Partners, and Tremblant Capital, supporting the firm's positioning as an institutional-grade boutique. The team is intentionally small (1–10 employees), consistent with a focused, high-conviction operating model.

Northern Trace generates revenue through asset management fees on institutional capital deployed across its strategies. Pricing and fee schedules are not publicly disclosed. The firm's go-to-market is direct institutional relationship-driven distribution supplemented by thought leadership content, media coverage in outlets such as Bloomberg and the Wall Street Journal, and podcast appearances. The firm claims a global footprint despite operating from a single U.S. headquarters.

Name

Northern Trace

Legal name

Northern Trace Capital LLC

Website

https://northerntrace.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

1–10 employees

Short description

Northern Trace Capital is a CFTC-registered commodities asset management firm founded in 2017 that offers institutional investors long/short, long-only, and co-investment strategies across 15+ commodity futures, using a proprietary machine learning and fundamental analysis process.

Ownership category

akta.pro rank

Product category

Commodities Asset Management

NAICS

Other Investment Pools and Funds (5259), Commodity Contracts Intermediation (523160)

SIC

Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

Managed Futures / CTA (Trend, Carry, Global Futures) (FSAHAEAB)

akta.pro secondary industries

Hedge Funds — Commodity Systematic/CTA (Managed Futures) (FSAHAHAC), Hedge Funds — Commodity Discretionary (Directional) (FSAHAHAA)

Keywords

• Commodity futures investing
• Institutional asset management
• Commodity trading advisor
• Managed futures strategies
• Commodity pool operator

Headquarters

HQ city

Columbus

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Revenue model

1. Commodities Asset Management Fees: Northern Trace generates revenue through asset management fees from institutional investors in their commingled funds and customized solutions. The firm offers Master Strategy, Co-Investments Strategy, and Long Only Strategy.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Northern Trace Capital manages commodity futures investment strategies for institutional investors. It offers three distinct commingled fund vehicles — Master Strategy (diversified long/short futures), Co-Investments Strategy (high-conviction discretionary opportunities), and Long Only Strategy (diversified long futures) — along with customized solutions, all built on the same proprietary process combining fundamental analysis, discretionary insights, and data science/machine learning.

Product overview

Northern Trace is a commodities asset management firm offering three distinct investment strategies: Master Strategy (diversified long/short futures exposure), Co-Investments Strategy (high conviction discretionary opportunities), and Long Only Strategy (diversified long futures exposure). All strategies are based on the same transparent investment process combining fundamental analysis, discretionary insights, and proprietary data science/machine learning capabilities. The firm provides commingled funds and customized solutions for institutional investors seeking commodities market exposure.

Differentiator

Problem solved

Functional benefit

Products and services

• Master Strategy

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature1 record

Recent moves6 records

Expansion highlights2 records

Direct peers

• Aspect Capital: Aspect Capital is a medium-sized systematic CTA running diversified futures programs across commodities. Comparable to Northern Trace as a research-driven systematic CTA offering diversified multi-commodity futures exposure to institutional clients.
• BlueMountain Capital Management: BlueMountain Capital is a multi-strategy alternatives manager with a strong commodities and structured credit franchise. Comparable to Northern Trace on commodities-focused institutional asset management with research-intensive investment processes.
• Graham Capital Management: Graham Capital Management is a well-established global macro and discretionary systematic CTA with multi-decade track record across commodity futures and FX. Comparable to Northern Trace as a multi-strategy commodities CTA combining discretionary and systematic approaches to managed futures.
• Winton Group: Winton Group is a large systematic CTA managing diversified futures strategies across commodities and financial markets. Comparable to Northern Trace on multi-commodity systematic managed futures exposure, but at materially larger scale and with a longer audited track record.
• Transtrend: Transtrend is a Netherlands-based systematic CTA managing diversified futures programs for institutional clients globally. Comparable to Northern Trace as a research-led multi-commodity CTA with a focus on systematic / quantitative process and global institutional distribution.
• Campbell & Company: Campbell & Company is a long-standing managed futures adviser offering systematic and discretionary commodity and financial futures programs. Comparable to Northern Trace on institutional CTA distribution, diversified futures exposure, and multi-strategy product offerings.
• Capstone Investment Advisors: Capstone Investment Advisors is a global alternative investment manager offering multi-strategy and managed futures programs, including commodity-focused strategies. Comparable to Northern Trace on institutional CTA distribution and multi-strategy alternatives approach.

Broad incumbents

• Man Group: Man Group is a publicly-traded, large-cap alternatives manager whose AHL division is one of the world's largest managed futures / systematic CTA franchises. Comparable to Northern Trace as a multi-commodity managed futures provider, but with vastly larger AUM scale, longer track record, and broader product ecosystem.

Market position

Strengths5 records

Weaknesses3 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Northern Trace