9AT: CARRIAGE SERVICES INVESTMENT ADVISORS, INC.

other names

CARRIAGE SERVICES INVESTMENT ADVISORS, INC.

Adviser Profile

As of Date	07/09/2025
ADV Location	HOUSTON, TX, United States
Adviser Type - Large advisory firm
Number of Employees	5
of those in investment advisory functions	4
Registration	SEC, Approved, 07/18/2012

AUM^*	280,250,826 13%
of that, discretionary	279,707,051 14%
Private Fund GAV^*	254,102,746 0%
Avg Account Size	2,091,424 11%
SMA’s	Yes
Private Funds	1
Contact Info	713 xxxxxxx

Client Types

- Pooled investment vehicles
- Other

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management

Fund Type	Count	GAV
Fund TypeOther Private Fund	Count1	GAV$254,102,746

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 BCS PRIVATE WEALTH MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund13.1m	Total Private Fund GAV13.1m	AUM405.9m	#Funds1
Adviser HUNTER LEWIS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund1.1m	Total Private Fund GAV1.1m	AUM226.0m	#Funds1
Adviser ILLUMEN CAPITAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund524.5m	Total Private Fund GAV524.5m	AUM274.5m	#Funds6
Adviser MEMPHIS CAPITAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund289.6m	Total Private Fund GAV289.6m	AUM289.6m	#Funds2
Adviser ARIS MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM1.3b	#Funds1
Adviser TAYLOR FRIGON CAPITAL MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund75.3m	Total Private Fund GAV75.3m	AUM299.1m	#Funds1
Adviser P10 ADVISORS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund296.5m	Total Private Fund GAV296.5m	AUM297.6m	#Funds3
Adviser AON ADVANTAGE FUNDS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM148.7m	#Funds-
Adviser FINANCE OF AMERICA 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-	AUM500.0k	#Funds-
Adviser WEIK CAPITAL MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund48.7m	Total Private Fund GAV48.7m	AUM305.2m	#Funds2

Brochure Summary

Overview

Carriage Services Investment Advisors, Inc. (Carriage Services Advisors) was formed in 2012 as a registered investment adviser (RIA). The firm is a wholly-owned subsidiary of Carriage Services, Inc., a publicly-held company headquartered in Houston, Texas, which is a leading provider of death care services and merchandise in the United States. Those services and merchandise are provided through entities that are directly or indirectly owned and/or controlled by Carriage Services, Inc. As used herein, “CSI” refers to Carriage Services, Inc. and its subsidiaries and affiliates. The business of Carriage Services Advisors is to provide investment advisory and other services to a private fund, Styx Private Fund LLP, a Florida limited liability partnership (the ”Fund”) and to deathcare trusts of CSI. The Fund is organized for the purpose of pooling funds from certain affiliated deathcare trusts created by CSI and making collective investments of such pooled funds. The Fund and deathcare trusts contract with Carriage Services Advisors to provide investment advisory services, fund accounting services, fund oversight and investment performance monitoring and other

ancillary functions covering investment assets. The composition of the investments is dependent upon the investment guidelines of the Fund, and in certain circumstances state law mandating investment of the deathcare trusts, and may be comprised of one or more of the following security types: Equity Securities (exchange listed and OTC, including preferred securities) Certificates of Deposit/Money Market Instruments Municipal Securities Partnerships Corporate Debt Publicly Traded Master Limited Partnerships United States Government Securities Commercial Paper Mutual Funds/Exchange Traded Funds Closed-End Funds As of December 31, 2023, the Fund and deathcare trust assets managed by Carriage Services Advisors on a discretionary basis were equal to approximately $271 million and $1 million on a non-discretionary basis. Carriage Services Advisors follows investment guidelines established by Carriage Services, Inc. and the officer of the Fund, Megan Bartels, which set forth investment objectives, permitted investments, target asset allocations, diversification guidelines, asset quality and other investment standards for the investment of the Fund and deathcare trust assets.

CARRIAGE SERVICES INVESTMENT ADVISORS, INC.

Adviser Profile

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

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Brochure Summary

Overview