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
ADV Location	NEW YORK, NY, United States
Adviser Type - Large advisory firm
Number of Employees	64 -3%
of those in investment advisory functions	30
Registration	SEC, Approved, 03/15/2012

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
Contact Info	212 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	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 Ticker14040H105	Stock NameCAPITAL ONE FINL CORP	$ Position$21,058,660	% Position10.00%	$ Change196.00%	# Change160.00%
Stck Ticker74743L100	Stock NameQNITY ELECTRONICS INC	$ Position$16,746,578	% Position8.00%	$ Change	# Change
Stck Ticker501044101	Stock NameKROGER CO	$ Position$12,569,227	% Position6.00%	$ Change210.00%	# Change234.00%
Stck Ticker45073V108	Stock NameITT INC	$ Position$8,425,299	% Position4.00%	$ Change	# Change
Stck Ticker12572Q105	Stock NameCME GROUP INC	$ Position$9,204,434	% Position4.00%	$ Change14.00%	# Change12.00%
Stck Ticker40412C101	Stock NameHCA HEALTHCARE INC	$ Position$9,069,689	% Position4.00%	$ Change78.00%	# Change63.00%
Stck Ticker601137102	Stock NameMILLROSE PPTYS INC	$ Position$8,490,816	% Position4.00%	$ Change	# Change
Stck Ticker26614N102	Stock NameDUPONT DE NEMOURS INC	$ Position$8,871,135	% Position4.00%	$ Change	# Change
Stck Ticker83443Q103	Stock NameSOLSTICE ADVANCED MATLS INC	$ Position$9,037,435	% Position4.00%	$ Change	# Change
Stck Ticker934423104	Stock NameWARNER BROS DISCOVERY INC (CALL)	$ Position$5,764,000	% Position3.00%	$ 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

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