9AT: ELEMENT CAPITAL MANAGEMENT LLC

other names

ELEMENT CAPITAL MANAGEMENT LLC
ELEMENT CAPITAL HOLDINGS LLC (RELYING ADVISER)
ELEMENT CAPITAL PARTNERS LLP (RELYING ADVISER)

Adviser Profile

As of Date	03/31/2025
Registration	SEC, Approved, 03/15/2012
ADV Location	NEW YORK, NY, United States
Contact Info	212 xxxxxxx
Websites

AUM^*	40,030,453,382 -46%
of that, discretionary	40,030,453,382 -42%
Private Fund GAV^*	43,029,557,611
Avg Account Size	8,006,090,676 -65%
SMA’s	No
Private Funds	5 2

Adviser Type

- Large advisory firm

Number of Employees 58 -8%

of those in investment advisory functions 27

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

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

SEC Fund Type	Count	GAV
Fund TypeHedge Fund	Count5	GAV$43,029,557,611

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 SCHONFELD STRATEGIC ADVISORS LLC	Hedge Fund194.1b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV194.1b	AUM146.3b	#Funds41
Adviser EXODUSPOINT CAPITAL MANAGEMENT, LP	Hedge Fund139.8b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV139.8b	AUM119.7b	#Funds6
Adviser NEWTON INVESTMENT MANAGEMENT NORTH AMERICA	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM47.4b	#Funds-
Adviser CITY NATIONAL ROCHDALE	Hedge Fund49.1k	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV49.1k	AUM68.2b	#Funds1
Adviser AMERICAN BEACON ADVISORS, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM58.8b	#Funds-
Adviser ONEDIGITAL	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM142.6b	#Funds-
Adviser GW&K INVESTMENT MANAGEMENT, LLC	Hedge Fund151.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV151.7m	AUM52.9b	#Funds3
Adviser LIGHTHOUSE INVESTMENT PARTNERS, LLC	Hedge Fund53.5b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV53.5b	AUM87.4b	#Funds143
Adviser SANDERS CAPITAL, LLC	Hedge Fund1.6b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.6b	AUM100.2b	#Funds3
Adviser TWO SIGMA ADVISERS, LP	Hedge Fund107.8b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV107.8b	AUM74.3b	#Funds39

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker12572Q105	Stock NameCME GROUP INC	$ Position$8,105,700	% Position11.00%	$ Change-2.00%	# Change0.00%
Stck Ticker14040H105	Stock NameCAPITAL ONE FINL CORP	$ Position$7,115,903	% Position10.00%	$ Change	# Change
Stck Ticker871607107	Stock NameSYNOPSYS INC	$ Position$6,068,204	% Position9.00%	$ Change	# Change
Stck Ticker907818108	Stock NameUNION PAC CORP	$ Position$6,030,035	% Position9.00%	$ Change	# Change
Stck Ticker78464A888	Stock NameSPDR SERIES TRUST	$ Position$5,540,000	% Position8.00%	$ Change12.00%	# Change0.00%
Stck Ticker91324P102	Stock NameUNITEDHEALTH GROUP INC	$ Position$5,017,900	% Position7.00%	$ Change	# Change
Stck Ticker40412C101	Stock NameHCA HEALTHCARE INC	$ Position$5,086,271	% Position7.00%	$ Change	# Change
Stck Ticker501044101	Stock NameKROGER CO	$ Position$4,057,812	% Position6.00%	$ Change	# Change
Stck Ticker60471A101	Stock NameMIRION TECHNOLOGIES INC	$ Position$2,688,344	% Position4.00%	$ Change	# Change
Stck Ticker51817R205	Stock NameLATAM AIRLINES GROUP SA	$ Position$1,287,634	% Position2.00%	$ Change	# Change

Brochure Summary

Overview

Element Capital Management LLC (“Element”) is an investment adviser with its principal place of business in New York, New York. Element, a Delaware limited liability company, was formed in February 2007 and commenced operations as an investment adviser in June 2007. Jeffrey M. Talpins is the principal owner of Element, and Element Capital Partners LLP (the “Relying Adviser”). Mr. Talpins launched the Element Capital Master Fund Limited in April 2005 and has continuously headed its investment activities since that time, previously for Proxima Alfa (USA) LLC and since June 2007, for Element. Element employs a Modern Macro style of global macro investing. Modern Macro is a multi-process investment approach that integrates macro fundamental, systematic and relative value analysis, generally combining these processes within a given investment strategy. Element expresses its macro views using primarily fixed income, foreign exchange and equity instruments. Element’s investment team utilizes its proprietary base of technology, disciplined risk management, innovative trade structuring and advanced

portfolio construction techniques to implement its strategies. Mr. Talpins, the Chief Executive Officer and Chief Investment Officer of Element, provides strategic direction for Element. Element, together with the Relying Adviser, provides investment advisory services to pooled investment vehicles intended for sophisticated and institutional investors (the “Element Funds”). Element provides advice to the Element Funds tailored to the investment objectives and strategies set forth in each Element Fund’s offering memorandum. The Element Funds do not impose restrictions on investing in certain securities or certain types of securities. In the future, Element may also provide investment advisory services to sophisticated and institutional investors through separate accounts or other pooled investment vehicles (such separate accounts and/or pooled investment vehicles together with the Element Funds, the “Clients”). As of December 31, 2023, Element had $74,801,493,375 of regulatory assets under management, all of which are managed on a discretionary basis on behalf of the Element Funds.

ELEMENT CAPITAL MANAGEMENT LLC

Adviser Profile

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