A. Description of the Advisory Firm Seldon Capital LP (“Seldon” or the “Firm”), a Delaware limited partnership, is an investment adviser that was formed on January 31, 2019. Matthew Fong is the principal owner and Managing Member of Seldon. B. Types of Advisory Services Beginning in 2021, Seldon serves as the investment adviser, with discretionary trading authority over private pooled investment vehicles (each, a “Fund,” and together the “Funds”) that are exempt from registration under the Investment Company Act of 1940, as amended (the “1940 Act”), and whose securities are not registered under the Securities Act of 1933, as amended (the “Securities Act”), including: Seldon Capital GP LLC (the “General Partner”) is the general partner of each of the Funds. Seldon provides investment advice and portfolio management services to separate accounts (each, a “Separately Managed Account”), including individuals, small businesses, and business and institutional clients. Each investor in a Separately Managed Account is referred to as an “SMA Client.” SMA Client relationships are governed by a written Investment Management Agreement (the “Advisory Agreement”) executed by both Seldon and the SMA Client. The investors in the Funds and Separately Managed Accounts are hereafter collectively referred to as the “Investors”, and individually, each an “Investor”, where appropriate. The Funds and Separately Managed Accounts, including co-investment accounts are referred to as “Clients” throughout this Brochure. Clients of Seldon currently

follow investment programs that result in significant overlap in investments, although they may not at all times or in the future. Seldon will, at the direction of the SMA Client, provide investment advice and portfolio management services with the objective of compounding capital over the long-term seeking high risk-adjusted returns. Seldon may also, at the direction of the SMA Client, engage in financial planning services which incorporates the SMA Client’s other assets, including balance sheet, cash flow, tax and insurance analysis. Seldon may advise on SMA Client’s assets not managed by the Firm, as well as potential investment situations presented by the Client for the Firm’s review. Seldon may also make available to SMA Clients or introduce SMA Clients to other investment firms that provide services beyond Seldon’s capabilities and expertise. Seldon may decide in the future to provide services to additional types of clients. C. Client Tailored Services and Client Imposed Restrictions Seldon provides investment advisory services in accordance with the investment objectives of the Client, and does not tailor its investing to the objectives of underlying Investors in the Funds. Generally, Seldon has the authority to select which and how many securities and other instruments to buy or sell without consultation with the Clients. D. Wrap Fee Programs Seldon does not participate in wrap fee programs. E. Amounts Under Management Discretionary Amounts: Non-Discretionary Amounts: Date Calculated: $411,615,866 $0 12/31/2023