New Holland Capital, LLC (“NHC”) is a Delaware limited liability company that was formed on
January 19, 2006. NHC began providing both discretionary and non-discretionary investment
advisory services in 2020, including services provided to certain pooled investment vehicles,
customized funds, and institutional investors (collectively, the “NHC Clients”) as more fully
described below. NHC generally does not provide investment advice about specific securities but
allocates NHC Clients’ assets to pooled investment vehicles or separate accounts managed by
unaffiliated fund managers or trading advisors implementing various strategies as discussed in
Item 8.
Non-Discretionary Services
NHC provides certain limited non-discretionary advisory services to other registered investment
advisers, family offices and high net worth investors, and a US University Endowment (the
“Non-Discretionary Clients”). Services provided to the Non-Discretionary Clients are in
accordance with the investment advisory agreement among NHC and the respective Non-
Discretionary Clients (the “Non-Discretionary Advisory Agreements”).
Discretionary Services
NHC provides discretionary services to the following pooled investment vehicles (collectively
the “Pooled Vehicles”) that are privately placed and not registered under the Investment
Company Act of 1940, as amended. The Pooled Vehicles include:
• New Holland Tactical Alpha Fund LP, a Cayman Islands exempted limited partnership
(together with its feeder funds and affiliated trading entities, “TAF”) seeks to maintain a
leveraged investment portfolio that is intended to produce attractive risk-adjusted returns
with low beta to traditional asset classes.
• New Holland Special Opportunities Fund LP, a Delaware limited partnership (together
with its feeder fund, “SOF”), has an investment strategy focused on constructing an
investment portfolio consisting of less liquid, credit-like opportunities, with medium duration.
NHC Clients also includes two customized private funds (collectively, the “Customized Funds”),
one created at the request of a single European investment adviser (the “Client Adviser”) and the
other, created at the request of a Canadian Pension, to pursue customized
investment strategies
which NHC manages on a discretionary basis. The terms of the Discretionary Services are set
forth in the governing documents of each respective Customized Fund (the “Governing
Documents”). The Customized Funds are currently invested in one or more of the Pooled
Vehicles. Additionally, in furtherance of the investment objectives of one of the Customized
Funds, we also advise certain subsidiary special purpose vehicles (“SPVs”), of such Customized
Fund through which such Customized Fund invests. The SPVs may include vehicles that will
directly engage third party trading advisors to invest all or a portion of such vehicle’s assets
(such fund, a “Managed Account Platform Fund”). NHC serves as the investment manager of
these SPVs and Managed Account Platform Funds and is responsible for the selection of each
investment made by an SPV and trading advisor engaged by each Managed Account Platform
Fund. TAF is also a Managed Account Platform Fund.
Additionally, NHC provides discretionary investment advisory services to a large United States-
based public pension fund (the “Pension Client”) via a separately managed account arrangement
(the “SMA”).
Additional Activities and Services
Either in connection with its services to its clients or for their own accounts, NHC principals and
other personnel serve on advisory boards or committees to Underlying Managers (as defined
below).
NHC was formed by a team that was performing the same function as employees of a subsidiary
of the Client Adviser.
NHC is the wholly owned subsidiary of NHC Intermediate Partners, LLC a subsidiary of NHC
Partners, LLC.
Certain NHC affiliates, principals and employees (collectively, “NHC Persons”) are directly
invested in TAF and an affiliate of NHC invests in the Customized Fund created for the
Canadian Pension. See Item 5 for additional information on fees and compensation as they relate
to these investments.
As of February 28, 2024, NHC advised approximately $10,854,500,000 in assets on a
discretionary. Assets of approximately $609,640,000 for our Non-discretionary Clients do not
meet the SEC’s definition of “regulatory assets under management” and therefor are not included
in the figures above.