SCM serves as discretionary investment manager to private investment funds that are
currently offered only to financially sophisticated institutional and high net worth
investors. Steadfast Financial LP (“SF”), an affiliate of SCM, also provides services to the
Funds (as defined below) in accordance with a service agreement with SCM. SCM and SF
are collectively referred to as “Steadfast.”
Steadfast Capital Management LP Form ADV: Part 2A Page 3
As of December 31, 2023, Steadfast manages American Steadfast, L.P., Steadfast
International Ltd., and Steadfast International Master Fund Ltd. (collectively, the
“Funds”).
In 1997, Steadfast was launched as an investment vehicle for Robert S. Pitts, Jr. In 1998,
Steadfast began accepting outside investors into its hedge fund strategy. SCM previously
operated under the name Steadfast Capital Management LLC, as a Delaware limited
liability company, and in 2008 was converted into a Delaware limited partnership.
Robert S. Pitts, Jr. is the President, Chief Investment Officer and controlling principal of
Steadfast, and has overall investment management responsibility for the Funds. Mr. Pitts,
other principals of Steadfast or senior members of Steadfast’s investment team may
manage a portion of the Funds’ portfolio(s) (in each case, subject to the supervision of Mr.
Pitts). Mr. Pitts is responsible for risk management of the Funds’ overall portfolio(s).
Steadfast provides discretionary investment advice to the Funds. Steadfast has broad and
flexible investment authority over the Funds.
Steadfast seeks to generate attractive rates of return over the long term by investing
primarily in publicly traded securities, both long and short. Although Steadfast seeks to
make competitive returns on investment for its clients, Steadfast emphasizes the
preservation of capital and the avoidance of large draw downs, especially in declining
markets. Steadfast believes that a disciplined approach based on intensive research, a focus
on the direction of underlying company fundamentals, and portfolio diversification can
provide attractive returns on capital without undue risk to principal. Asset valuation and
bottom-up research drive our investment decision making process.
The Funds’ investments are not confined to any particular approach or industry and may at
any time include, without limitation (unless otherwise specified in the Confidential Private
Placement Memorandum of a Fund): long or short positions in publicly-traded or privately
issued or negotiated common stocks, preferred stocks, stock warrants and rights, corporate
and government debt, corporate and government bonds, notes or other debentures or debt
participations, interests in real estate, convertible securities, distressed securities,
currencies, digital assets, options (purchased or written) on any type of security,
commodity or derivative, commodities (including physical commodities), futures
contracts, forward contracts (including, without limitation, currency forward contracts),
other derivative investments (which may be used for investment purposes and/or as a hedge
against fat tail risk), swaps (including, without limitation, credit default swaps), partnership
interests, opportunities in private equities, venture capital investments, and real estate,
opportunities in short selling, risk arbitrage and spin-offs, contract rights, cash and other
securities or other financial instruments, including those of investment companies, and
other asset classes, such as precious metals and other hard assets.
Clients generally may not impose any restrictions on the Funds’ investments beyond the
limitations described in the offering documents for the Funds. (See Item 16 below).
As of December 31, 2023, Steadfast managed approximately $7,215,624,352 of regulatory
assets under management on a discretionary basis.
Steadfast does not manage any assets on a non-discretionary basis.
Steadfast Capital Management LP Form ADV: Part 2A Page 4