Our firm is a SEC-registered investment adviser with its principal place of business located in New York. The firm began conducting business in 2009. Our senior management team, Rebecca Westervelt, Robert C Hobaica and Nicholas Norvell serve as the firm’s financial advisors. Our firm offers various investment advisory services to you. As used in this brochure, the words “we,” “our” and “us” refer to HNP Capital LLC and the words “you”, “your” and “client” refer to you as either a client or prospective client of our firm. We offer individualized investment advice to clients utilizing our firm’s asset management service. Additionally, we offer general investment advice to clients utilizing our firm’s financial planning and consulting services. Asset Management Services We emphasize continuous and regular account supervision. As part of our asset management service, we generally create a portfolio, consisting of individual stocks or bonds, exchange traded funds (“ETFs”), options, mutual funds, and other public and private securities or investments. The client’s individual investment strategy is tailored to their specific needs and may include some or all of the previously mentioned securities. Each portfolio will be designed to meet a particular investment goal, which we determine to be suitable to the client’s circumstances. Once the appropriate portfolio has been determined, we review the portfolio on an ongoing basis. We will rebalance the portfolio based upon the asset allocation of the portfolio, our analytical approach, and the stated goals and objectives. We generally do not allow clients to impose restrictions on investing in specific securities or types of securities due to the level of difficulty this would entail in managing their account. We may also recommend that clients utilize the investment management services of sub- advisers for particular types of instruments or markets. HNP has conducted due diligence on each sub- advisor. HNP will also continue to monitor our sub-advisor relationships. HNP uses a core and explore asset allocation strategy utilizing ETFs, funds, stocks, and bonds with a target weighting of equities and fixed income based on the clients’ risk tolerance and time horizon.
• We diversify your portfolio across a broad range of asset classes and styles of investments. 5 {4949255:2 }
• HNP may utilize a combination of ETFs, funds, and/or individual stocks of US, international, and emerging market stocks. HNP may also use alternative asset classes such as private real estate for accredited investors to add additional diversification to the portfolio.
• HNP may also overweight or underweight asset classes, asset styles or sectors within the portfolio. HNP utilizes a top down and bottom up analytical approach. HNP considers this the “explore” component of the portfolio
• HNP will work with the client to determine an appropriate risk tolerance, time horizon, and the circumstances of the client to assist with the appropriate portfolio.
• Each portfolio will have a target allocation of equities and/or fixed income based upon the investment objectives. These target allocations are central tendencies, and the asset allocation may shift to overweight equities or fixed income based on relative value. Otherwise, the central tendencies may change as the investor circumstances change. HNP encourages ongoing communications with clients to identify these investor changes.
• HNP’s fixed income portfolio management is custom-tailored service to meet the individualized needs and investment objectives of the client. Investments in fixed

income may be utilized to provide income, inflation protection, or to balance portfolio risk.
• Investments across the fixed income markets may include US Treasury, Agency, Corporate, Agency and Non-Agency Mortgage Backed Securities, Asset Backed Securities, Municipal, High Yield and International. Financial Planning and Consulting We provide a variety of financial planning and consulting services to individuals, families and other clients regarding the management of their financial resources based upon an analysis of client’s current situation, goals, and objectives. Generally, such financial planning services will involve preparing a financial plan or rendering a financial consultation for clients based on the client’s financial goals and objectives. This planning or consulting may encompass one or more of the following areas: Investment Planning, Retirement Planning, Estate Planning, Charitable Planning, Education Planning, Corporate and Personal Tax Planning, Cost Segregation Study, Corporate Structure, Real Estate Analysis, Mortgage/Debt Analysis, Insurance Analysis, Lines of Credit Evaluation, Business and Personal Financial Planning. Our written financial plans or financial consultations rendered to clients usually include general recommendations for a course of activity or specific actions to be taken by the clients. For example, recommendations may be made that the clients begin or revise investment programs, create or revise wills or trusts, obtain or revise insurance coverage, commence or alter retirement savings, or establish education or charitable giving programs. It should also be noted that we refer clients to an accountant, attorney or other specialist, as necessary for non- advisory related services. For written financial planning engagements, we provide our clients with a written summary of their financial situation, observations, and recommendations. For financial consulting engagements, we usually do not provide our clients with a written summary of our observations and recommendations as the process is less formal than our planning service. Plans or consultations are typically completed within six (6) months of the client signing a contract with us, assuming that the information and documents we request from the client are provided to us promptly. Implementation of the recommendations will be at the discretion of the client. We have also launched a new service called, “HNP 360.” This is intended for clients that would like ongoing financial planning in addition to the asset management services we provide. The 6 {4949255:2 } client will provide us with information as pertains to income, investments, taxes, insurance, estate plan and other pertinent information. We will discuss with the client its investment objectives, needs and goals. We will also work with the client’s attorney, accountant or other professionals to create a comprehensive plan that will include ongoing cash flow analysis, estate planning, risk management and investment management. We may recommend that our clients participate in wrap fee programs. In making such recommendation, we use similar considerations and review when we recommend our clients utilize the investment management services of sub-advisers. We may receive a management fee in addition to the wrap fee paid by the client. Amount of Managed Assets As of 12/31/2022, our firm actively manages approximately $648,650,147.33 on a discretionary basis and $100,371,233.60 on a non-discretionary basis.