9AT: PALESTRA CAPITAL MANAGEMENT LLC

other names

PALESTRA CAPITAL MANAGEMENT LLC

Adviser Profile

As of Date	09/10/2025
ADV Location	NEW YORK, NY, United States
Adviser Type - Large advisory firm
Number of Employees	23 10%
of those in investment advisory functions	11 22%
Registration	SEC, Approved, 03/30/2012

AUM^*	5,538,939,464 44%
of that, discretionary	5,538,939,464 44%
Private Fund GAV^*	5,538,939,464 20%
Avg Account Size	923,156,577 -4%
SMA’s	No
Private Funds	7 5
Contact Info	212 xxxxxxx

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

Fund Type	Count	GAV
Fund TypeHedge Fund	Count7	GAV$5,538,939,464

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 LMCG INVESTMENTS, LLC	Hedge Fund2.2b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.2b	AUM6.5b	#Funds6
Adviser CALEDONIA US, LP	Hedge Fund4.5b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV4.5b	AUM4.5b	#Funds11
Adviser COPELAND CAPITAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM4.9b	#Funds-
Adviser NAYA CAPITAL MANAGEMENT UK LIMITED	Hedge Fund5.2b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV5.2b	AUM5.6b	#Funds7
Adviser GOTHAM ASSET MANAGEMENT, LLC	Hedge Fund4.1b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV4.1b	AUM12.1b	#Funds27
Adviser RUBRIC CAPITAL MANAGEMENT LP	Hedge Fund6.2b	Liquidity Fund-	Private Equity Fund20.1m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV6.3b	AUM7.1b	#Funds8
Adviser PALISADE CAPITAL MANAGEMENT, LP	Hedge Fund99.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV99.5m	AUM4.2b	#Funds6
Adviser ENCOMPASS CAPITAL ADVISORS LLC	Hedge Fund3.9b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV3.9b	AUM4.8b	#Funds7
Adviser SENVEST MANAGEMENT, LLC	Hedge Fund4.4b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV4.4b	AUM4.4b	#Funds7
Adviser SOMERSET CAPITAL MANAGEMENT LLP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM4.2b	#Funds-

Brochure Summary

Overview

ADVISOR BUSINESS Palestra, a Delaware limited liability company, was founded in September 2011 by Jeremy Schiffman and Andrew Immerman. Mr. Schiffman and Mr. Immerman are equal owners of Palestra and serve as the Company’s portfolio managers. Mr. Schiffman and Mr. Immerman’s ownership of Palestra is held through Palestra Management LP, a Delaware limited partnership. Palestra provides investment advisory services on a discretionary basis to its clients, which currently consist of the following pooled investment vehicles (referred to herein as the “private funds”) intended for high-net-worth, financially sophisticated individual investors and institutional investors: - Palestra Capital Master Fund, L.P. (the “Hedge Fund”), including its affiliated onshore and offshore feeder funds, which has an investment mandate to generate superior long-term risk-adjusted returns over a market cycle primarily through long and short investments in equity securities of U.S. and non-U.S. issuers; and - PCM Long Master Fund, L.P. (the “Long Fund”), including its affiliated onshore and offshore feeder funds, which has a long-only investment mandate and generally trades with significant overlap with the long positions of the Hedge Fund. References in this document to Palestra’s “accounts” refer specifically the trading accounts of the Hedge Fund and the Long Fund. All information about Palestra and the private funds contained in the Brochure is qualified

in its entirety by the information in the private funds’ confidential offering and/or private placement memoranda, individual limited partnership agreements and other governing documents applicable to each private fund (the “Offering Documents”). Palestra is permitted to establish additional client or proprietary accounts, including special purpose vehicles, co-investment funds, separately managed accounts and similar investment vehicles, in the future that follow similar or different strategies to its current accounts. Palestra manages the private funds using fundamental, research-intensive analytic processes. The Company primarily makes long and short investments in equities and will also selectively invest in credit and derivative opportunities. Investments are tailored to reflect the stated investment objectives and restrictions of the private funds, but will generally not be tailored to reflect the needs or restrictions of individual investors. The investment strategies that Palestra employs in managing the private funds are discussed in more detail in Item 8 “Methods of Analysis, Investment Strategies and Risk of Loss” herein. Due to the use of leverage and short selling, the Company’s “regulatory assets under management,” as defined by the SEC, generally exceeds the private funds’ net capital. As of December 31, 2023, Palestra’s regulatory assets under management were $3,850,639,432, all of which are managed on a discretionary basis.

PALESTRA CAPITAL MANAGEMENT LLC

Adviser Profile

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

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Brochure Summary

Overview