Organization WEDGE is an investment advisory firm active in the management of client portfolios since 1984. We are independently owned by 12 general partners and are organized as a limited liability partnership under the laws of Delaware. Our ownership distribution is broad with no general partner owning 25% or more of the firm. Services WEDGE offers a variety of value-oriented equity and fixed income strategies. Value investing generally involves buying securities whose shares appear underpriced by some form(s) of fundamental analysis. Based on this belief, we follow a value oriented, bottom-up1 approach to the equity and fixed income markets. Our services include:
• Traditional and quantitative management2 of stocks across various market capitalization3 ranges.
• Fixed income management across various benchmarks.
• Balanced account management. WEDGE seeks to be engaged as a portfolio manager of client accounts on a fully discretionary basis (please see Item 16 – Investment Discretion). As a portfolio manager, WEDGE uses its best efforts to increase the value of a client's account but will not generally consider needs of the client other than the client's account. We utilize proprietary model portfolios but can tailor product offerings to client-specified guidelines and restrictions in many instances. We do this by both manual and systematic means, depending on the restriction. Generally, excess cash due to client-specified restrictions is invested in other securities within the appropriate model. Accounts with client-specified restrictions can, from time to time, have transactions executed separately and after accounts without restrictions to allow necessary time to process the restrictions and find more suitable investments. Accommodating these types of restrictions can result in differences in account compositions and in the timing of transactions, which can lead to disparity in performance between accounts with restrictions

and those without. 1 Bottom-up security selection involves analyzing a security based on the individual attributes of the underlying entity. 2 Quantitative management uses a systematic, factor-driven, computing model to analyze a universe of stocks. 3 Market capitalization is a way of measuring the size of a company and is calculated by multiplying the current stock price by the number of outstanding shares. It is possible that WEDGE will be unable to provide advisory services due to certain restrictions on the selection of securities or the selection of broker-dealers. Restrictions will be evaluated on a case by case basis to determine whether WEDGE can effectively provide its advisory services. WEDGE does not intend to act as a fiduciary or make investment recommendations to prospective clients prior to an agreement being signed. Materials presented to prospective clients are for informational or educational purposes only and should not be interpreted as investment advice. In providing these materials, WEDGE is not acting as a fiduciary as defined by any applicable laws or regulations. Wrap Fee Programs WEDGE provides non-discretionary advisory services to a Unified Managed Accounts (“UMA”) Program sponsored by a brokerage firm. In a UMA Program, the client executes a contract with the UMA Program sponsor and the sponsor recommends or directs which sub-advisers will be used in the client's investment program. WEDGE provides the sponsor with a model portfolio which has been chosen by the UMA program sponsor. An updated model portfolio is provided to the sponsor whenever a change is made in the model portfolio (e.g., adding an investment position, deleting an investment position or increasing/decreasing a position). WEDGE does not enter trades, does not receive trade reports, does not perform or have access to recordkeeping, performance data or reporting or any client reporting. WEDGE does not interface with the sponsors’ clients. Assets Under Management As of December 31, 2023, WEDGE managed $7,583,000,000 of client assets on a fully discretionary basis. WEDGE does not have any non-discretionary assets under management.