9AT: KERRISDALE CAPITAL MANAGEMENT, LLC

other names

KERRISDALE CAPITAL MANAGEMENT, LLC
KERRISDALE ADVISERS, LLC

Adviser Profile

As of Date	03/31/2026
Registration	SEC, Approved, 03/27/2012
ADV Location	MIAMI BEACH, FL, United States
Contact Info	212 xxxxxxx
Websites

AUM^*	447,769,865 -17%
of that, discretionary	447,769,865 -17%
Private Fund GAV^*	429,553,772 -3%
Avg Account Size	74,628,311 -44%
SMA’s	No
Private Funds	4

Adviser Type

- Large advisory firm

Number of Employees 4 -20%

of those in investment advisory functions 1

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

SEC Fund Type	Count	GAV
Fund TypeHedge Fund	Count4	GAV$429,553,772

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 MILL HILL CAPITAL LLC	Hedge Fund757.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV757.2m	AUM757.2m	#Funds7
Adviser COVISION ADVISORS LLC	Hedge Fund679.3m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV679.3m	AUM708.4m	#Funds3
Adviser BERYL CAPITAL MANAGEMENT, LLC	Hedge Fund855.3m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV855.3m	AUM1.0b	#Funds4
Adviser FREEDOM FINANCIAL ASSET MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM758.0m	#Funds-
Adviser RAYS CAPITAL PARTNERS LIMITED	Hedge Fund514.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV514.6m	AUM547.2m	#Funds7
Adviser WYNKOOP LLC	Hedge Fund208.9m	Liquidity Fund-	Private Equity Fund10.4m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV219.3m	AUM1.2b	#Funds6
Adviser BLUE SWELL ASSET MANAGEMENT PRIVATE LIMITED	Hedge Fund541.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV541.5m	AUM2.1b	#Funds2
Adviser HARSPRING CAPITAL MANAGEMENT, LLC	Hedge Fund361.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV361.6m	AUM459.1m	#Funds4
Adviser BOLDHAVEN MANAGEMENT	Hedge Fund884.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV884.8m	AUM1.4b	#Funds3
Adviser PINNBROOK CAPITAL MANAGEMENT LP	Hedge Fund1.1b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.1b	AUM1.1b	#Funds4

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker879433829	Stock NameTELEPHONE & DATA SYS INC	$ Position$20,748,747	% Position10.00%	$ Change	# Change
Stck Ticker58733R102	Stock NameMERCADOLIBRE INC	$ Position$17,250,123	% Position8.00%	$ Change45.00%	# Change69.00%
Stck Ticker92826C839	Stock NameVISA INC	$ Position$13,843,225	% Position7.00%	$ Change2.00%	# Change0.00%
Stck Ticker871829107	Stock NameSYSCO CORP	$ Position$15,565,465	% Position7.00%	$ Change86.00%	# Change108.00%
Stck Ticker83601L102	Stock NameSOTERA HEALTH CO	$ Position$9,822,905	% Position5.00%	$ Change-21.00%	# Change-30.00%
Stck Ticker00108J109	Stock NameACM RESH INC	$ Position$10,394,365	% Position5.00%	$ Change50.00%	# Change49.00%
Stck Ticker02079K305	Stock NameALPHABET INC	$ Position$9,198,131	% Position4.00%	$ Change12.00%	# Change-13.00%
Stck Ticker023135106	Stock NameAMAZON COM INC	$ Position$9,549,254	% Position4.00%	$ Change9.00%	# Change4.00%
Stck Ticker40090E106	Stock NameGRUPO CIBEST SA	$ Position$5,795,507	% Position3.00%	$ Change12.00%	# Change-9.00%
Stck Ticker49177J102	Stock NameKENVUE INC	$ Position$5,931,188	% Position3.00%	$ Change123.00%	# Change109.00%

Brochure Summary

Overview

Kerrisdale Advisers, LLC is a New York limited liability company and an investment adviser with its principal place of business in Miami, FL. Kerrisdale commenced operations in April 2009. Sahm Adrangi is the principal owner of Kerrisdale. As of January 1, 2024, the Firm provides investment management services to the following private pooled investment vehicles (collectively, the “Flagship Funds”):
• Kerrisdale Partners, L.P. (“Domestic Feeder Fund”)
• Kerrisdale Partners Offshore, Ltd. (“Offshore Feeder Fund”)
• Kerrisdale Partners Master Fund, Ltd. (“Master Fund”) The Firm also provides investment management services to the following private pooled investment vehicle:
• Kerrisdale Long Only Fund, L.P. (“Long Only Fund”) The foregoing vehicles referenced above are collectively referred to as the “Funds” and “Client Accounts” and, each, a Fund and Client Account. The Firm provides advice to the Funds based on specific investment objectives and strategies. However, Kerrisdale does not tailor advisory services to the individual needs of investors (the “Investors”) in the Funds. The Investors may not impose restrictions on investing in certain securities or types of securities. Each Fund is governed by a limited partnership agreement or memorandum and articles of association,

as applicable, and a description of the relevant Fund’s activities and investment program is set forth in such Fund’s offering documents (if any) or other disclosure documents and its respective investment advisory agreements (such governing documents, offering documents and agreements, are referred to as the Fund’s “Constituent Documents”). In many instances a more detailed discussion of the topics discussed in this Brochure is available in a Fund’s Constituent Documents. Certain investors may have entered into separate agreements with Kerrisdale and/or its affiliates, amending one or more terms set forth in applicable Constituent Documents with respect to such investor. The Funds are managed in accordance with the investment objectives, guidelines and restrictions set forth in their respective Constituent Documents, and are described in Item 8, “Methods of Analysis, Investment Strategies and Risk of Loss,” below. Kerrisdale Capital Management, LLC (the “General Partner”) is the general partner of the Flagship Funds. Kerrisdale Long Only Fund GP, LLC (the “Long Only General Partner”) is the general partner of the Long Only Fund. As of January 1, 2024, the Firm managed net assets of approximately $360 million of the Client Accounts, all of which are managed on a discretionary basis.

KERRISDALE CAPITAL MANAGEMENT, LLC

Adviser Profile

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