Formation and Ownership GuruFocus Investments, LLC, a Delaware limited liability company formed in July 2021, provides investment advisory services. GFI Holdings (2021), LLC is the principal owner of GuruFocus Investments, LLC, which in turn is principally owned by Cechan (Charlie) Tian. GuruFocus.com, LLC, a Texas limited liability company formed in 2004, provides financial news, data, and analytical tools to individual and institutional investors and is 100% owned by Mr. Tian. Integrated Filing This Form ADV is an integrated filing for GuruFocus Investments, LLC and GuruFocus.com, LLC pursuant to staff guidance set forth in the Richard Ellis No-Action Letter (August 18, 1991), as part of the firm’s status as a registered investment adviser with the SEC. Both entities are controlled by Mr. Tian, share the same offices, have a single compliance program and management, and thus are treated as a single “registered entity” for all purposes in this Form ADV. Where appropriate, throughout this Brochure, GuruFocus Investments, LLC and GuruFocus.com, LLC are together referred to as “GuruFocus,” “We”, “Us”, or the “Firm”. Services – GuruFocus.com, LLC GuruFocus.com, LLC is engaged in the research business, providing financial news, research, and data and analytical tools through its website GuruFocus.com (together with GuruFocus.cn and all company-sponsored social media sites, hereafter referred to as “GuruFocus.com”).1 GuruFocus.com is a value investing research platform with various value screeners and research tools. Information covers a range of security types, as well as economic and general market topics across multiple regions of the world, including the U.S., Asia, Europe, Canada, the U.K., Oceania, Latin America, Africa, and India. Basic access to GuruFocus.com is available for free and provides limited access to website visitors who may use the stock scanner, view “Guru” holdings, and access the news articles and forum. “Gurus” are prominent long-term investors whose investment portfolios are tracked by the platform. Most of the site’s data, including information about Gurus and insider trades and advanced stock scanner features, requires a membership to access. Premium content is only available through an annual subscription which includes additional data tools, periodic newsletters and email updates based on user preference. There are three subscription levels available: GuruFocus Premium Membership, GuruFocus PremiumPlus Membership, and Professional

Membership. Important Note: Membership features are listed below for informational purposes but are subject to change over time; please see GuruFocus.com for the most current features available for each Membership level. 1 For a complete listing of all GuruFocus sponsored sites, see Form ADV Part 1A, Schedule D. Premium Membership ♦ 30-year financial data ♦ All-in-one screener ♦ Graham, Buffett, and Lynch value screens ♦ Interactive charts ♦ Warning signs ♦ Real time Guru picks and Portfolios ♦ Excel Add-In, API (2000 queries/month) PremiumPlus Membership ♦ Premium Membership features plus o Back testing o 13F, 13D/13G of all institutional investors o Manual of Stocks o Excel Add-In unlimited queries o API (20,000 queries/month) Professional Membership ♦ PremiumPlus Membership features plus o Up to 50,000/Month/Region API queries o Access to delisted companies GuruFocus.com provides “impersonal advisory services” to its subscribers. Under Rule 206(4)- 3(d)(3), impersonal advisory services are defined to be services that do not purport to meet the objectives or needs of specific clients, and statistical information containing no expression of opinions as to the investment merits of particular securities. GuruFocus.com, LLC does not provide personalized investment advice; all content, opinions and recommendations are impersonal and are not tailored to meet individual subscribers’ investment needs. Services – GuruFocus Investments, LLC GuruFocus Investments, LLC has been named the non-discretionary sub-adviser (“Sub-Adviser”) to a 1940 Investment Company Act product (“Guru Favorite Stocks ETF”, whose symbol is “GFGF”) providing sub-advisory services for an annual fee based on the percentage of the value of the assets that are sub-advised (“Sub-Advisory Fee”). As Sub-Adviser to GFGF, GuruFocus’ advice will be limited to equity securities. GuruFocus Investments, LLC provides non-discretionary advice to the adviser to GFGF and will not be authorized to initiate any orders to purchase or sell any securities on behalf of GFGF. GuruFocus Investments, LLC will not provide personalized advice to individual shareholders of GFGF. Terms of service are outlined in the Sub-Advisory agreement, while terms of investment are detailed in the prospectus. Wrap Programs GuruFocus does not participate in wrap fee programs. Assets under Management GuruFocus had $28.37 million in non-discretionary regulatory assets under management as of March 28, 2023.