Overview
Season is an SEC-registered investment adviser with its principal place of business located in Colorado. Season began
conducting business in 2011 and is owned by David Houle and Elliott Orsillo through their holding company, DE Partners,
LLC.
We offer the following services to our clients:
PORTFOLIO MANAGEMENT
We provide portfolio management services pursuant to the objectives and constraints of each client. Investment
strategy is determined and implemented on a client-by-client basis, and each portfolio is governed by an Investment
Policy Statement. Accounts are generally managed on a discretionary basis, although discretionary authority may be
limited by a client’s Investment Policy Statement.
Our investment recommendations are not limited to any specific product or service and may include advice
regarding the following types of investments:
• Open and closed-end mutual funds
• Interval funds
• Exchange-traded funds (ETFs)
• Exchange-traded notes (ETNs)
• Common and preferred stocks
• Real estate investment trusts (REITs)
• Master limited partnerships (MLPs)
• Options and warrants
• Structured notes
• Sovereign, municipal or corporate debt
• Certificates of deposit
• Promissory notes
• Marketplace Lending investments
• Non-traded REITs
• Private placements
• Private equity, debt and real estate
• Hedge funds or funds of fund
• Other alternative investments
Every investment will be considered within the context of the client’s overall portfolio to determine suitability and
consistency with the client’s stated investment objectives and constraints. Please see Item 8 of this document for
further discussion regarding our methods of analysis and specific strategies.
FINANCIAL PLANNING
We offer financial planning services in order to help our clients define their financial objectives and develop
strategies for reaching those objectives. These services may include identifying and rectifying financial problems,
cash flow and budget management, balance sheet optimization, asset management, retirement planning, tax
planning, risk analysis, insurance planning, education funding, and planned charitable giving. Financial planning
may not be offered to or desired by all of our clients, and such services will be customized to each client’s specific
needs and requests.
INVESTMENT & WEALTH CONSULTING
We provide investment and wealth consulting to select individuals and/or institutions that wish to engage us for
services other than financial planning and portfolio management. Such services may include assisting with
investment policy development, asset
allocation strategy, manager selection and oversight, risk management,
performance reporting, ongoing oversight of alternative, illiquid or complex investments or overall wealth
management strategies. Consulting services are provided on a non-discretionary basis and are tailored to the
unique objectives of each individual consulting client.
The services described above are tailored to each individual client’s needs. Portfolio management services are customized
by assessing investment objectives and risk tolerance, and by capturing those client-specific considerations in an Investment
Policy Statement that governs and guides the ongoing management of the portfolio. Financial planning services are tailored
by describing the nature and scope of the services to the client and assessing, through holistic conversations, whether or not
they need or wish to engage Season to provide those services. Finally, our consulting services, which are the most open-
ended, are tailored by virtue of the fact that they are entirely based on the unique and specific needs of the consulting client.
Season Investments Alternative Credit & Equity Fund, LP
In addition to the advisory services described above, Season provides portfolio management services for the Season
Investments Alternative Credit & Equity Fund, LP, a Delaware limited partnership (the “Fund”). The primary investment
objective of the Fund is to preserve and grow capital by investing in a mix of non-cyclical, recession resilient investments with
the objective of earning superior risk adjusted returns over full economic cycles. The Fund’s returns are expected to exhibit
low correlation to public markets (both bonds and equities) and the overall economy. Returns are expected to come from a
combination of capital appreciation and current income sourced through opportunities in alternative equity and credit
investments. The Fund seeks to achieve this objective by allocating its assets for investment among a select group of
managers, strategies and individual investment opportunities employing a variety of specialized strategies. The combination
of these investments is expected to produce more consistent returns and limit the Fund’s overall exposure to downside
volatility in equity, debt and other markets. An investment in the Fund is generally limited to “accredited investors” as
defined in Rule 501(a) of Regulation D and “qualified clients” as defined in Rule 205-3 of the Investment Advisers Act of
1940. There can be no assurance that the Fund will be able to achieve its investment objectives.
AMOUNT OF MANAGED ASSETS
As of December 31, 2023, Season managed $138,990,670 in discretionary assets and $0 in non-discretionary assets.