9AT: CHANGE FINANCE

Adviser Profile

As of Date	04/12/2025
Registration status	Terminated
ADV Location	ALEXANDRIA, VA, United States
Contact Info	978 xxxxxxx
Websites

AUM^*	131,060,529 -1%
of that, discretionary	131,060,529 -1%
Number of Employees	2 -60%
of those in investment advisory functions	-100%
Private Fund GAV^*	0
Avg Account Size	131,060,529 -1%
SMA’s	No
Private Funds	0

Adviser Type

- An investment adviser (or subadviser) to an investment company

Client Types

- Investment companies

Advisory Activities

- Portfolio management for investment companies

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 PRIMARK ADVISORS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM371.6m	#Funds-
Adviser LEATHERBACK ASSET MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM35.0m	#Funds-
Adviser WAVELENGTH CAPITAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM104.0m	#Funds-
Adviser COMMUNITY DEVELOPMENT FUND ADVISORS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM326.4m	#Funds-
Adviser BISHOP STREET CAPITAL MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM166.5m	#Funds-
Adviser BYW	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM113.2m	#Funds-
Adviser WILDERMUTH ADVISORY, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM121.5m	#Funds-
Adviser OAKLINE ADVISORS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM104.3m	#Funds-
Adviser IRONHORSE CAPITAL LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM120.5m	#Funds-
Adviser NORTH COUNTRY INVESTMENT ADVISERS, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM124.9m	#Funds-

Brochure Summary

Overview

Change Finance, P.B.C (“Change Finance”) was founded in 2016. Change Finance is a Public Benefit Corporation (“PBC”) and is principally owned by Andrew Rodriguez, Dorrit Lowsen, and Donna Morton. Types of Advisory Services Change Finance serves as model provider to other investment advisers (the “Managers” or “Manager”). Separately managed account (“SMA”) clients who obtain Change Finance’s services through model provider arrangements contract with their Manager who, in turn, enters into an agreement with Change Finance to obtain the relevant sub-advisory services. Generally, Managers are responsible for providing the SMA clients with both the Manager’s Brochure as well as the Brochure for each sub-adviser, such as Change Finance, used by the SMA client. Change Finance’s models currently include the Change Finance Diversified Impact U.S.

Large Cap Fossil Fuel Free Index and the Change Finance International Fossil Free Index (each an “Index,” and together the “Indices”). Investments are selected in accordance with the stated investment policies, objectives, restrictions and guidelines, consistent with the applicable model (e.g., the Index). Strategies and restrictions are not tailored to the individualized needs of any particular client. Change Finance also serves as a sub-adviser to the AXS Change Finance ESG ETF, which is a registered investment company operating as an exchange-traded fund (the “ETF” or “Fund”). The Fund is managed consistent with the applicable Index. Client Assets as of December 31, 2023: Assets Under Management: Discretionary: $ 132,098,398; 1 account Non-Discretionary: None Assets Under Advisement: $ 826,984; 4 accounts

CHANGE FINANCE

CHANGE FINANCE

CHANGE FINANCE, P.B.C.

CHANGE FINANCE, INC.

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Similar advisers

Brochure Summary

Overview

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CHANGE FINANCE CHANGE FINANCE CHANGE FINANCE, P.B.C. CHANGE FINANCE, INC.

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Similar advisers

Brochure Summary

Overview

CHANGE FINANCE

CHANGE FINANCE

CHANGE FINANCE, P.B.C.

CHANGE FINANCE, INC.