9AT: RYAN HERITAGE, LLP

Adviser Profile

As of Date	03/27/2026
Registration	SEC, Approved, 11/08/2021
ADV Location	SADDLE BROOK, NJ, United States
Contact Info	201 xxxxxxx

AUM^*	18,806,198 13%
of that, discretionary	18,806,198 13%
Number of Employees	7
of those in investment advisory functions	3
Private Fund GAV^*	0
Avg Account Size	3,134,366 -81%
SMA’s	No
Private Funds	0

Adviser Type

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

Client Types

- Individuals (other than high net worth individuals)
- Investment companies
- Other

Advisory Activities

- Portfolio management for individuals and/or small businesses
- 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 ALTERNATIVE ACCESS FUNDS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM42.5m	#Funds-
Adviser WRONA 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-	AUM34.1m	#Funds-
Adviser EMERALD RESEARCH CORP.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM9.4m	#Funds-
Adviser GUIDANCE POINT RETIREMENT SERVICES, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM88.2m	#Funds-
Adviser AS TRIGON ASSET MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM75.9m	#Funds-
Adviser R CUBED GLOBAL CAPITAL INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM25.2m	#Funds-
Adviser CHANGEBRIDGE CAPITAL, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM11.3m	#Funds-
Adviser TEMA GLOBAL LIMITED	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM116.0m	#Funds-
Adviser RISE VEST INVESTMENTS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM10.0m	#Funds-
Adviser VEGTECH LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM6.2m	#Funds-

Brochure Summary

Overview

Ryan Heritage, LLP is owned by Phillip Goldstein and Andrew Dakos. The Company is a Delaware limited liability partnership, formed in 2019. It has been engaged in the investment advisory business since 2022. Messrs. Goldstein and Dakos are also the principal owners of Bulldog Investors, LLP (an SEC-registered investment adviser), and the sole owners of Bulldog Holdings, LLC, which is the sole owner of Kimball & Winthrop, LLC (a special purpose vehicle). Ryan Heritage serves as the investment sub-adviser to Horizon Kinetics SPAC Active ETF (“SPAQ”), a series of Listed Funds Trust structured as an exchange-traded fund (“ETF”); and separately-managed accounts (“SMAs”). Ryan Heritage advises SPAQ, including placing discretionary

trades pursuant to SPAQ’s investment policies and restrictions. Ryan Heritage may tailor its advisory services to the specific needs and specifications of its SMA clients. SMA clients may impose reasonable restrictions on investing in certain securities or types of securities, including the designation of particular securities or types of securities that should not be purchased for the account, as well as the designation of certain “legacy” securities that should not be sold for the account. As of December 31, 2023, Ryan Heritage managed approximately $16.67 million on a discretionary basis. Other than with respect to such “legacy” securities, the Company does not manage client assets on a non-discretionary basis.

RYAN HERITAGE, LLP

RYAN HERITAGE, LLP

BULLDOG INVESTORS, LLP

RYAN HERITAGE, 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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RYAN HERITAGE, LLP RYAN HERITAGE, LLP BULLDOG INVESTORS, LLP RYAN HERITAGE, LLC

Adviser Profile

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Similar advisers

Brochure Summary

Overview

RYAN HERITAGE, LLP

RYAN HERITAGE, LLP

BULLDOG INVESTORS, LLP

RYAN HERITAGE, LLC