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Adviser Profile

As of Date 03/21/2024
Adviser Type - Large advisory firm
Number of Employees 22
of those in investment advisory functions 13
Registration SEC, Approved, 2/22/2002
AUM* 7,085,675,359 11.59%
of that, discretionary 7,085,675,359 11.59%
Private Fund GAV* 425,596,546 -3.45%
Avg Account Size 3,945,254 -4.32%
% High Net Worth 68.93% 5.21%
SMA’s Yes
Private Funds 2
Contact Info 212 xxxxxxx
Websites

Client Types

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

Advisory Activities

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

Compensation Arrangments

- A percentage of assets under your management

Recent News

Reported AUM

Discretionary
Non-discretionary
6B 5B 5B 4B 3B 2B 907M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypeOther Private Fund Count2 GAV$425,596,546

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Brochure Summary

Overview

Hamlin registered with the SEC in 2002 and is primarily owned by Lucy and Mark Stitzer. As of December 31, 2023, Hamlin managed $7,086 million on a discretionary basis on behalf of separately managed accounts, two pooled investment vehicles (the “Private Funds”), and the Hamlin High Dividend Equity Fund (the “Mutual Fund”), an open-end management investment company registered under the Investment Company Act of 1940. The Private Funds and Mutual Fund are collectively referred to herein as the “Funds.” Hamlin draws some of its investment history from its predecessor firm, RRH Capital Management, Inc. (“RRH”), founded in 1984. Hamlin and RRH merged in 2004. Hamlin offers equity and debt security investment advice for a fee through separately managed accounts and the Funds. Fees are described in Item 5 Fees and Compensation below. Hamlin manages its clients’ assets based on the individual needs of each client. At the onset of a client relationship, Hamlin identifies client-specific investment objectives and/or restrictions, mutually agreed upon asset allocation between equities, debt securities, and cash or cash equivalents, and the types of investments that will be held by the client. Clients may impose restrictions on their account based on specific securities, security type, bond term, or industry type, among others. Hamlin’s approach to asset management emphasizes current income. High-yield equities and high-yield municipal and taxable bonds constitute a majority of a client’s Hamlin portfolio. The high-yield municipal bond strategy (the “Bond Strategy”) is also available with long term, short term, ultra-short term, and taxable bond mandates. The balance of a client’s portfolio generally will be invested in government instruments, money market funds, and cash or cash instruments. Hamlin’s investment supervisory services include transactions in certificates of participation, which are fixed-income investments that have a very similar structure to the municipal bonds managed by Hamlin. The primary difference between certificates of participation and municipal bond investments is that the typical certificate of participation gives the lender a lien on a lease while the typical municipal bond structure gives the lender a lien on property. With respect to the Private Funds and the Mutual Fund, this Brochure is qualified in its entirety by the respective product’s offering memorandum, operating or limited partnership agreement, prospectus, statement of additional information, or similar disclosure
and governing documents. Hamlin serves as a portfolio manager and sub-advisor for several clients who have been introduced to Hamlin by unaffiliated third-party advisers. Hamlin has entered into a sub-advisory agreement with many of the advisers and does not maintain separate investment management agreements with sub-advisory clients. Accordingly, Hamlin is relying on the advisers’ assessment to determine whether Hamlin’s investment strategy is suitable and appropriate for such clients. In some instances, the sub-advisory relationship specifies that Hamlin only provide a model portfolio to the adviser that sponsors the program and the sponsor, in addition to suitability, will also be responsible for all trading and anti-money laundering requirements (“Model Delivery Sub- Advisory”). For all Model Delivery Sub-Advisory relationships, the sponsor will retain investment discretion and be responsible for the timing and magnitude of purchase/sale decisions within the portfolio to implement Hamlin’s recommendations. As a result, Hamlin does not include Model Delivery Sub-Advisory clients in calculations of assets under management. Please see Item 12 Brokerage Practices below for more information. In addition, Hamlin participates in wrap fee programs sponsored by Stifel, Nicolaus & Company, Inc., Summit Trail Advisors, LLC, Morgan Stanley, New Edge Wealth, and UBS Financial Services, Inc. by providing portfolio management services. As part of the wrap fee programs, Hamlin manages the debt security allocation of certain clients’ accounts and receives a portion of the wrap fee for its advisory services which is paid by the client to the sponsor of the wrap fee program. Hamlin generally trades away the sponsor for fixed income clients in wrap fee programs. Hamlin has certain clients that have retained Hamlin’s services to liquidate accounts where a third party selected the initial purchase of securities (the “Third Party Mandate”). Hamlin engages in reduced due diligence for these third party securities and does not recommend the purchase of new securities into these accounts. Hamlin does not make recommendations to clients regarding the types of accounts they should open and/or maintain, such as recommendations that involve the roll over or transfer of assets from one type of account to another. Clients should consult with other financial professionals regarding account recommendations. Finally, please see the discussion in Item 5 below regarding Hamlin’s services as Bondholder Representative.