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	03/30/2026
Registration	SEC, Approved, 03/15/2012
ADV Location	NEW YORK, NY, United States
Contact Info	212 xxxxxxx
Websites

AUM^*	43,427,362,512 -42%
of that, discretionary	43,427,362,512 -42%
Private Fund GAV^*	46,375,740,533 8%
Avg Account Size	8,685,472,502 -65%
SMA’s	No
Private Funds	5 2

Adviser Type

- Large advisory firm

Number of Employees 64 -3%

of those in investment advisory functions 30

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$46,375,740,533

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 Fund296.5b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV296.5b	AUM225.3b	#Funds42
Adviser EXODUSPOINT CAPITAL MANAGEMENT, LP	Hedge Fund181.8b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV181.8b	AUM159.4b	#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-	AUM59.2b	#Funds-
Adviser RBC ROCHDALE, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM73.0b	#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-	AUM59.9b	#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-	AUM155.4b	#Funds-
Adviser GW&K INVESTMENT MANAGEMENT, LLC	Hedge Fund171.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV171.0m	AUM52.8b	#Funds3
Adviser LIGHTHOUSE INVESTMENT PARTNERS, LLC	Hedge Fund53.6b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV53.6b	AUM87.4b	#Funds144
Adviser SANDERS CAPITAL, LLC	Hedge Fund2.1b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.1b	AUM122.2b	#Funds3
Adviser TWO SIGMA ADVISERS, LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM74.3b	#Funds-

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker78462F103	Stock NameSTATE STR SPDR S&P 500 ETF T (PUT)	$ Position$487,755,000	% Position46.00%	$ Change	# Change
Stck Ticker872590104	Stock NameT-MOBILE US INC	$ Position$56,884,525	% Position5.00%	$ Change	# Change
Stck Ticker30303M102	Stock NameMETA PLATFORMS INC (CALL)	$ Position$57,213,000	% Position5.00%	$ Change	# Change
Stck Ticker74743L100	Stock NameQNITY ELECTRONICS INC (CALL)	$ Position$57,690,000	% Position5.00%	$ Change1302.00%	# Change892.00%
Stck Ticker64110L106	Stock NameNETFLIX INC. (CALL)	$ Position$44,950,125	% Position4.00%	$ Change	# Change
Stck Ticker595112103	Stock NameMICRON TECHNOLOGY INC (CALL)	$ Position$33,784,000	% Position3.00%	$ Change	# Change
Stck TickerM98068105	Stock NameWIX COM LTD	$ Position$29,934,855	% Position3.00%	$ Change	# Change
Stck Ticker79466L302	Stock NameSALESFORCE INC (CALL)	$ Position$18,667,000	% Position2.00%	$ Change	# Change
Stck Ticker30303M102	Stock NameMETA PLATFORMS INC	$ Position$22,885,200	% Position2.00%	$ Change790.00%	# Change927.00%
Stck Ticker75513E101	Stock NameRTX CORPORATION (CALL)	$ Position$16,010,700	% 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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Compensation Arrangments

Reported AUM

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