9AT: CIRCLE N ADVISORS, LLC

Adviser Profile

As of Date	03/16/2026
Registration	SEC, Approved, 06/26/2015
ADV Location	FISHKILL, NY, United States
Contact Info	845 xxxxxxx

AUM^*	94,202,372 -12%
of that, discretionary	94,202,372 -12%
Number of Employees	3
of those in investment advisory functions	2
Private Fund GAV^*	0
Avg Account Size	888,702 -2%
% High Net Worth	20.56% -14%
SMA’s	Yes
Private Funds	0

Adviser Type

- Large advisory firm

Client Types

- Individuals (other than high net worth individuals)
- High net worth individuals
- Pension and profit sharing plans

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser WEALTH ADVISORS OF IOWA, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM539.4m	#Funds-
Adviser WASHBURN CAPITAL MANAGEMENT INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM253.6m	#Funds-
Adviser BRM INVESTMENT MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM132.9m	#Funds-
Adviser MACKE FINANCIAL ADVISORY GROUP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM175.7m	#Funds-
Adviser VITALSTONE FINANCIAL, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM199.7m	#Funds-
Adviser FACTOR INVESTING GROUP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM348.8m	#Funds-
Adviser POST OAK PRIVATE WEALTH ADVISORS	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM390.9m	#Funds-
Adviser WILON WEALTH MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM264.1m	#Funds-
Adviser FAMILY INVESTMENT CENTER	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM689.3m	#Funds-
Adviser APPROACH RETIREMENT ADVISORS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM227.5m	#Funds-

Brochure Summary

Overview

Circle N Advisors, LLC (“Circle N”) is a Delaware Limited Liability Company formed in March 2015. Charles Frumberg is an indirect holder of 25% or more of Circle N. Circle N offers to its clients the Long-Weighted Investment Strategy, in which Circle N employees provide investment advisory services to client accounts on a discretionary basis (the “Long Weighted Strategy”). Circle N offers to its clients the Long-Weighted Investment Strategy (“Long Weighted Strategy”), which utilizes a long portfolio approach, without any options-based hedge or short positions. Circle N may structure Strategy accounts based upon individual clients’ circumstances and objectives, so the composition of each portfolio may be different, although the character of the equity portion of each account is similar. Each client can impose reasonable restrictions on the management of its account, including restricting particular securities or types of securities. If Circle N believes that the instructions are unreasonable or inappropriate for the client, Circle N may ask the client to modify the instruction, or it may terminate the account. Circle N manages the Strategy account individually and such management may involve different timing with respect to the purchase and/or sale of

particular securities, although Strategy accounts have similar foundational elements. Therefore, execution of purchases and sales of securities happen in different Strategy accounts at different times or in some Strategy accounts but not others. The liquidity of securities in the Strategy accounts, the availability of securities for purchase and different client needs and objectives affect the execution timing. Generally, all discretionary transactions in a particular security on any given day receive the same price. In the event that certain accounts are required to meet time constraints on money required for their account or for margin calls due, the related sales of securities may be exempt from the daily average price policy. In addition, Circle N may make exceptions to the daily average price policy in appropriate circumstances. Circle N may give advice and take action in the performance of its duties to a client that may differ from advice given to another client. The timing and nature of action taken with respect to Strategy accounts may differ among individual clients. Managed Assets As of December 31, 2023, Circle N Advisors LLC managed approximately $107,000,000 in assets for 118 accounts. Circle N manages all the assets on a discretionary basis.

CIRCLE N ADVISORS, LLC

CIRCLE N ADVISORS, LLC

Adviser Profile

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Similar advisers

Brochure Summary

Overview

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CIRCLE N ADVISORS, LLC CIRCLE N ADVISORS, LLC

Adviser Profile

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Similar advisers

Brochure Summary

Overview

CIRCLE N ADVISORS, LLC

CIRCLE N ADVISORS, LLC