9AT: UAS ASSET MANAGEMENT

other names

UAS ASSET MANAGEMENT
MORA SECURIITES, INC.
UNITED AMERICAN SECURITIES, INC.

Adviser Profile

As of Date	11/19/2025
Registration	SEC, Approved, 04/22/1988
ADV Location	NEW YORK, NY, United States
Contact Info	212 xxxxxxx
Websites

AUM^*	449,916,954 9%
of that, discretionary	443,807,279 8%
Private Fund GAV^*	72,773,972
Avg Account Size	1,260,272 5%
% High Net Worth	43.33% -5%
SMA’s	Yes
Private Funds	1

Adviser Type

- Large advisory firm

Number of Employees 6 20%

of those in investment advisory functions 5 67%

Client Types

- Individuals (other than high net worth individuals)
- High net worth individuals
- Pooled investment vehicles
- Pension and profit sharing plans
- Charitable organizations
- State or municipal government entities
- Corporations or other businesses not listed above
- Other

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

SEC Fund Type	Count	GAV
Fund TypeHedge Fund	Count1	GAV$72,773,972

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 L2 ASSET MANAGEMENT, LLC	Hedge Fund110.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV110.5m	AUM819.6m	#Funds2
Adviser POTRERO CAPITAL RESEARCH, LLC	Hedge Fund360.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV360.9m	AUM381.9m	#Funds3
Adviser NW1 PARTNERS	Hedge Fund686.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV686.0m	AUM686.0m	#Funds3
Adviser JOHKIM CAPITAL PARTNERS MANAGEMENT LLC	Hedge Fund340.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV340.2m	AUM340.2m	#Funds3
Adviser LIQUID CAPITAL MANAGEMENT LLC	Hedge Fund578.4m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV578.4m	AUM333.7m	#Funds5
Adviser VETAMER CAPITAL MANAGEMENT, L.P.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM327.5m	#Funds-
Adviser HERITAGE WEALTH MANAGEMENT, INC.	Hedge Fund62.8m	Liquidity Fund-	Private Equity Fund34.4m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund32.8m	Total Private Fund GAV129.9m	AUM491.2m	#Funds8
Adviser CADEN CAPITAL PARTNERS, LP	Hedge Fund343.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund10.0m	Total Private Fund GAV353.2m	AUM486.4m	#Funds5
Adviser RDST CAPITAL LLC	Hedge Fund826.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund28.1m	Total Private Fund GAV854.7m	AUM1.0b	#Funds2
Adviser SEVEN GRAND MANAGERS LLC	Hedge Fund4.3m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV4.3m	AUM399.3m	#Funds1

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker084670702	Stock NameBERKSHIRE HATHAWAY INC DEL	$ Position$158,569,223	% Position34.00%	$ Change2.00%	# Change-1.00%
Stck Ticker023135106	Stock NameAMAZON COM INC	$ Position$68,211,397	% Position14.00%	$ Change-27.00%	# Change-27.00%
Stck Ticker594918104	Stock NameMICROSOFT CORP	$ Position$62,976,505	% Position13.00%	$ Change2.00%	# Change-2.00%
Stck Ticker22160K105	Stock NameCOSTCO WHOLESALE CORP NEW	$ Position$35,546,969	% Position8.00%	$ Change-12.00%	# Change-6.00%
Stck Ticker02079K305	Stock NameALPHABET INC	$ Position$38,559,063	% Position8.00%	$ Change199.00%	# Change117.00%
Stck Ticker30303M102	Stock NameMETA PLATFORMS INC	$ Position$33,976,091	% Position7.00%	$ Change3.00%	# Change4.00%
Stck Ticker90353T100	Stock NameUBER TECHNOLOGIES INC	$ Position$24,168,415	% Position5.00%	$ Change-26.00%	# Change-29.00%
Stck Ticker037833100	Stock NameAPPLE INC	$ Position$15,578,518	% Position3.00%	$ Change24.00%	# Change0.00%
Stck Ticker67066G104	Stock NameNVIDIA CORP	$ Position$16,367,730	% Position3.00%	$ Change591.00%	# Change485.00%
Stck Ticker874039100	Stock NameTAIWAN SEMICONDUCTOR MFG LTD	$ Position$8,578,113	% Position2.00%	$ Change	# Change

Brochure Summary

Overview

Company United American Securities, Inc. is an independent, privately-held New York corporation founded in 1987 by Shahin and Bahman Mossavar-Rahmani. United American Securities, Inc. conducts its investment advisory business under the name “UAS Asset Management”. UAS Asset Management has been providing investment advisory services as an SEC-registered investment adviser since 1988. Throughout this brochure, UAS Asset Management is referred to as either “UAS” or the “firm”. Principal Owner The principal owner of UAS is Bahman Mossavar-Rahmani. Services UAS provides investment management services through separately managed accounts and, currently, to Kitty Hawk Investment Partners, LP (“Kitty Hawk”), a private investment partnership organized as a pooled investment vehicle (the “Fund”). Separately Managed Accounts Prior to commencing an advisory relationship with a prospective client, UAS will execute a written investment advisory agreement with the client covering important topics, including but not limited to the investment objective of the account, any risk guidelines applicable to the account to the extent such are communicated by the client,

the scope of investment discretion granted to UAS and the compensation payable to UAS and the manner of payment. UAS may invest its clients’ assets in stocks, bonds, mutual funds, Exchange-Traded Funds (“ETF”s), and other investment vehicles as UAS determines is appropriate based on a client’s investment objective. UAS primarily manages accounts on a discretionary basis, though it also provides advice to certain clients on a non-discretionary basis. A client may place reasonable restrictions on the types of investments that UAS may make on the client's behalf. The Fund At present, UAS is the managing member of Kitty Hawk Management, L.L.C., the general partner (the “UAS Affiliated Entity”) of the Fund. UAS also serves as investment manager to the Fund. Because of the “pooled” nature of the Fund, investors in the Fund may not impose restrictions on the Fund’s investments in certain securities or types of securities. Assets Under Management As of December 31, 2023 , the total regulatory assets under management of UAS is approximately $413,944,149, $409,878,079 of which is managed on a discretionary basis, and $4,066,070 of which is managed on a non-discretionary basis.

UAS ASSET MANAGEMENT

Adviser Profile

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Adviser Type

Client Types

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Compensation Arrangments

Reported AUM

Private Funds

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