9AT: MEREWETHER INVESTMENT MANAGEMENT, LP

other names

MEREWETHER INVESTMENT MANAGEMENT, LP

Adviser Profile

As of Date	03/31/2025
ADV Location	DALLAS, TX, United States
Adviser Type - Large advisory firm
Number of Employees	18 64%
of those in investment advisory functions	12 50%
Registration	SEC, Approved, 07/16/2021
Other registrations (2)	Texas, ERA - Withdrawn, 06/17/2021 SEC, ERA - Withdrawn, 05/16/2018

AUM^*	4,276,316,598 86%
of that, discretionary	4,276,316,598 173%
Private Fund GAV^*	3,482,752,414
Avg Account Size	285,087,773 137%
SMA’s	No
Private Funds	11
Contact Info	214 xxxxxxx
Websites

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	Count11	GAV$3,482,752,414

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 METACAPITAL MANAGEMENT, L.P.	Hedge Fund1.4b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.4b	AUM1.4b	#Funds4
Adviser VERDE SERVICOS INTERNACIONAIS S.A.	Hedge Fund1.3b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.3b	AUM1.3b	#Funds8
Adviser CAT ROCK CAPITAL MANAGEMENT LP	Hedge Fund1.2b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.2b	AUM1.2b	#Funds5
Adviser CLOUGH CAPITAL PARTNERS, LP	Hedge Fund207.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV207.2m	AUM1.3b	#Funds7
Adviser CQS (US), LLC	Hedge Fund1.5b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.5b	AUM3.0b	#Funds6
Adviser GREENHOUSE FUNDS LLLP	Hedge Fund2.2b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.2b	AUM2.7b	#Funds8
Adviser BRAHMAN CAPITAL CORP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM1.5b	#Funds-
Adviser DME CAPITAL MANAGEMENT, LP	Hedge Fund5.5b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV5.5b	AUM3.7b	#Funds7
Adviser SUMMIT GLOBAL INVESTMENTS, LLC	Hedge Fund2.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.0m	AUM1.9b	#Funds1
Adviser PARADIGM CAPITAL MANAGEMENT, INC.	Hedge Fund824.3m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV824.3m	AUM2.2b	#Funds3

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker29364G103	Stock NameENTERGY CORP NEW	$ Position$166,087,467	% Position4.00%	$ Change-17.00%	# Change-16.00%
Stck Ticker98389B100	Stock NameXCEL ENERGY INC	$ Position$160,107,061	% Position4.00%	$ Change13.00%	# Change23.00%
Stck Ticker969457100	Stock NameWILLIAMS COS INC	$ Position$140,717,510	% Position3.00%	$ Change	# Change
Stck Ticker576323109	Stock NameMASTEC INC	$ Position$123,713,962	% Position3.00%	$ Change-33.00%	# Change-34.00%
Stck Ticker629377508	Stock NameNRG ENERGY INC	$ Position$121,918,284	% Position3.00%	$ Change42.00%	# Change44.00%
Stck TickerG6700G107	Stock NameNVENT ELECTRIC PLC	$ Position$136,188,481	% Position3.00%	$ Change-19.00%	# Change-21.00%
Stck Ticker69047Q102	Stock NameOVINTIV INC	$ Position$141,581,595	% Position3.00%	$ Change101.00%	# Change107.00%
Stck Ticker816851109	Stock NameSEMPRA	$ Position$136,596,284	% Position3.00%	$ Change-22.00%	# Change-21.00%
Stck Ticker867224107	Stock NameSUNCOR ENERGY INC NEW	$ Position$145,481,106	% Position3.00%	$ Change-6.00%	# Change-11.00%
Stck Ticker87612G101	Stock NameTARGA RES CORP	$ Position$138,296,957	% Position3.00%	$ Change3.00%	# Change-6.00%

Brochure Summary

Overview

A. Merewether, a Texas limited partnership, was formed in July 2017 and has its principal place of business in Dallas, Texas. Merewether Management GenPar, LLC, a Texas limited liability company, is the general partner of Merewether. Rod Saddington is the principal owner and managing member of Merewether Management GenPar, LLC. Merewether acts as the investment manager to three sponsored master-feeder investment structures (each a “Fund” and collectively referred to herein as the “Funds”) for sophisticated, qualified investors (“Investors”); and (ii) sub-advised accounts (the “Managed Accounts”, which, collectively with the Funds, are referred to as the “Clients”))1. B. Merewether pursues its investment strategy through managing its Clients. Merewether has discretion with respect to investment decisions made for the Clients. The Adviser provides investment advisory services to the Funds based on the investment objectives and strategies described in each Fund’s confidential offering memorandum and governing documents. Merewether provides its services to the Managed Accounts in accordance with an investment management agreement between Merewether and the respective Managed Account. C. Advisory services are tailored to achieve the investment objectives described in the applicable Client’s confidential offering memorandum and governing documents, including but not limited to an investment

management agreement (referred to collectively as “Offering Documents”). Generally, Merewether has the authority to select which and how many securities and other instruments to buy or sell without consultation with the Clients or Fund Investors. Merewether does not tailor its advisory services to the individual needs of Fund Investors and does not accept Fund Investor imposed investment restrictions. The Adviser may tailor its advisory services with respect to the individual needs of its Managed Account Clients. Each advisory agreement with Managed Account Clients was separately negotiated and designed to suit the needs of the respective Client and its respective investment guidelines which may include restrictions on investing in certain securities or types of securities. D. The Adviser will not participate in wrap fee programs. E. As of December 31, 2023, the Adviser managed approximately $2,295,972,250 in regulatory assets under management on a discretionary basis. Merewether does not manage any advisory client assets on a non-discretionary basis. 1 As a registered investment adviser, the Adviser owes a fiduciary duty to all of its clients. In 2006, the decision by the Court of Appeals for the D.C. Circuit in Goldstein v. SEC, 451 F.3d 873 (D.C. Cir. June 23, 2006), with respect to private funds, clarified that the “client” of an investment adviser to a private fund is the Fund itself and not an Investor in the Fund.

MEREWETHER INVESTMENT MANAGEMENT, LP

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