Real Stuff for Real Returns.
Real Asset Portfolios for Proactive, Strategic Investors
The investment landscape is shifting structurally. Commodities and hard assets are no longer an alternative allocation — they are becoming a necessity. SOP Advisors has been positioned for this moment since 1994.
Our Thesis
Stuff
Over
Paper.
"For the last several decades, financial assets — paper — have dominated. The secular shifts in interest rates and inflation will be a drag on future returns, particularly for bonds."
We are entering a period where hard assets and natural resources will significantly outperform. This will be driven by de-globalization, East vs. West realignment, and the rebuilding of global supply chains. SOP Advisors was specifically designed to give investors exposure to this generational shift.
What We Do
We Give Investors Intelligent, Strategic Natural Resource Exposure.
01
SOP Portfolio
Custom Portfolios, Actively Managed.
Most portfolios are underweight real assets. We give investors dynamic, value-driven exposure to the natural resource and commodity sectors — not with a fund, but with a directly managed, fully transparent account built around your specific situation, risk tolerance, and objectives.
Customized allocations across energy, metals, agriculture, and industrials
Publicly traded equities, ETFs, and ETNs
Held on Schwab and other major platforms — full transparency
Active management, not indexing
Built for family offices, RIAs, and high-net-worth investors
02
SOP Commercial
Custom Portfolios, Actively Managed.
Most portfolios are underweight real assets. We give investors dynamic, value-driven exposure to the natural resource and commodity sectors — not with a fund, but with a directly managed, fully transparent account built around your specific situation, risk tolerance, and objectives.
Commodity-specific risk isolation and analysis
Hedge structure design and execution
Integration with purchasing and procurement programs
Rising rate exposure strategies for leveraged operators
Ongoing hedge management and reporting
Experience Counts
Practitioners, not theorists
Steve Allen
Managing Member
Steve is the General Partner at Greenbriar Partners L.P., which he founded in 1994 as a strategic and opportunistic commodity investment fund. Under his leadership, Greenbriar’s extensive research and fundamental analysis focuses on investments in physical commodity markets as well as commodity-related investments in the public capital markets. His physical trading experience ranges from minor, precious, and exchange-traded metals to agriculture commodities. Steve holds an MBA from the University of Michigan and a B.A. in Economics from Albion College.
Derren Geiger
Strategic Advisor
Derren serves as a Portfolio Manager of Energy Funds, overseeing an award-winning, private U.S.-based oil and gas minerals and royalty strategy. He previously served as Sr. Portfolio Analyst at Preservation Capital Management, providing analysis and recommendations within the commodity and cyclical sectors, including energy, metals, agriculture, and chemicals. He served honorably in the U.S. Air Force and holds a B.S. in Finance from Arizona State University, where he graduated Summa Cum Laude with Honors.
Insights
Stuff Will Outperform Paper.
📄 Newsletter
Weekly commodity market analysis and investment perspective from our principals
📊 Newsletter
Real-time takes on commodity market developments and the real asset thesis as it plays out
▶ Video
YouTube
Webinars, market analysis, and real asset insights from our principals. Watch below.
Video Library
Watch Us In Real Terms
Webinar
What is Driving Gold, Copper, and Energy
Market Commentary
Fracture
Market Commentary
Gold Did Its Job in 2025 Turmoil
Featured Webinar
Stuff Over Paper
Our flagship investor webinar laying out the full SOP thesis — why hard assets will structurally outperform paper assets and how we are positioned for this generational shift
Webinar
Just Getting Started
Market Commentary
Foundations of Copper Market are Bullish
Energy
LNG Exports Compete with Domestic Demand
Market Commentary
Gold Surges on Debasement & De-dollarization
Market Commentary
Why Real Assets Are Now Dominating Markets
Market Commentary
Rock Beat Paper in 2025
FAQ
Common Questions
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SOP builds diversified portfolios through separately managed accounts on the Schwab platform. This structure gives clients: daily liquidity, full position-level transparency, direct ownership of the underlying securities, and advantages for tax management and customization.
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Real asset and commodity-related exposure will vary by investor, but in today's environment most diversified portfolios are meaningfully under-allocated. In our view, many investors should target roughly 10–20% of their total portfolio in real assets and commodity-linked exposure.
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No. SOP intentionally simplifies exposure by focusing on publicly traded equities and exchange-traded funds of companies whose revenues are directly linked to underlying commodities — rather than using options, futures, or other derivatives.
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No. SOP employs an active, risk-aware portfolio management approach rather than a purely passive, set-and-forget allocation. By adjusting position sizes, sector weights, and overall exposure as economic and commodity cycles evolve, active management seeks to reduce the risk of being overexposed near cycle peaks and underexposed at troughs.
Get Started
Is your portfolio positioned for what comes next?
A 15-minute conversation with our principals costs nothing and may change how you think about your allocation. No pitch. No obligation. Just a direct conversation with people who have been doing this for 30 years
EMAIL: info@sopadvisors.com PHONE: 858-914-3189 LOCATION: Rancho Santa Fe, CA