9AT: BLS CAPITAL FONDSMAEGLERSELSKAB A/S

other names

BLS CAPITAL FONDSMAEGLERSELSKAB A/S

Adviser Profile

As of Date	09/19/2025
ADV Location	KLAMPENBORG, Denmark
Adviser Type - Large advisory firm - Outside the United States
Number of Employees	26 -7%
of those in investment advisory functions	11 38%
Registration	SEC, Approved, 05/14/2014

AUM^*	7,767,270,928 -9%
of that, discretionary	7,767,270,928 -9%
Private Fund GAV^*	2,212,511,698
Avg Account Size	431,515,052 -14%
SMA’s	Yes
Private Funds	1
Contact Info	004 xxxxxxx
Websites

Client Types

- Pooled investment vehicles
- Pension and profit sharing plans
- Charitable organizations
- State or municipal government entities
- Other investment advisers
- Other

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count1	GAV$2,212,511,698

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 GENESIS INVESTMENT MANAGEMENT, LLP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM-	#Funds3
Adviser PRIMA CAPITAL ADVISORS	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM9.5b	#Funds-
Adviser TEMPLETON INVESTMENT COUNSEL, LLC	Hedge Fund24.3m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund110.4m	Total Private Fund GAV134.7m	AUM4.6b	#Funds4
Adviser VULCAN VALUE PARTNERS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund18.1m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund117.9m	Total Private Fund GAV136.1m	AUM6.9b	#Funds5
Adviser LOOP CAPITAL ASSET MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund359.3m	Total Private Fund GAV359.3m	AUM9.9b	#Funds5
Adviser HARDMAN JOHNSTON GLOBAL ADVISORS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund3.4b	Total Private Fund GAV3.4b	AUM6.7b	#Funds8
Adviser ALTRINSIC GLOBAL ADVISORS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund729.1m	Total Private Fund GAV729.1m	AUM8.4b	#Funds3
Adviser SLR CAPITAL PARTNERS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund4.2b	Total Private Fund GAV4.2b	AUM9.2b	#Funds11
Adviser KENNEDY LEWIS MANAGEMENT LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund3.5b	Real Estate Fund698.2m	Securitized Asset Fund-	Venture Capital Fund-	Other Fund7.8b	Total Private Fund GAV11.9b	AUM10.8b	#Funds47
Adviser DSM CAPITAL PARTNERS	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund487.1m	Total Private Fund GAV487.1m	AUM7.1b	#Funds4

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker98850P109	Stock NameYUM CHINA HLDGS INC	$ Position$590,376,280	% Position20.00%	$ Change4.00%	# Change-6.00%
Stck Ticker68902V107	Stock NameOTIS WORLDWIDE CORP	$ Position$408,670,294	% Position14.00%	$ Change0.00%	# Change5.00%
Stck Ticker053015103	Stock NameAUTOMATIC DATA PROCESSING IN	$ Position$285,501,378	% Position10.00%	$ Change-13.00%	# Change0.00%
Stck Ticker43300A203	Stock NameHILTON WORLDWIDE HLDGS INC	$ Position$293,340,562	% Position10.00%	$ Change2.00%	# Change-8.00%
Stck Ticker57636Q104	Stock NameMASTERCARD INCORPORATED	$ Position$238,224,799	% Position8.00%	$ Change-7.00%	# Change-8.00%
Stck Ticker053332102	Stock NameAUTOZONE INC	$ Position$248,864,879	% Position8.00%	$ Change2.00%	# Change28.00%
Stck Ticker98978V103	Stock NameZOETIS INC	$ Position$248,697,825	% Position8.00%	$ Change16.00%	# Change35.00%
Stck Ticker78409V104	Stock NameS&P GLOBAL INC	$ Position$174,636,513	% Position6.00%	$ Change9.00%	# Change1.00%
Stck Ticker79466L302	Stock NameSALESFORCE INC	$ Position$142,603,702	% Position5.00%	$ Change	# Change
Stck Ticker92826C839	Stock NameVISA INC	$ Position$160,901,890	% Position5.00%	$ Change15.00%	# Change12.00%

Brochure Summary

Overview

BLS Capital Fondsmaeglerselskab A/S (“BLS Capital” or “we”) is an asset management company and an investment adviser registered with the Danish Financial Supervisory Authority (“Finanstilsynet” or “Danish FSA”). Our principal place of business is Klampenborg, Denmark. We are authorized under the Danish FSA to provide investment advisory services. BLS Capital is organized as an “aktieselskab (A/S)” under the laws of Denmark. BLS Capital commenced business on January 29, 2008 and was founded by Anders Lund, Partner and Portfolio Manager, and Peter Bundgaard Rørdam, Partner, and Portfolio Manager. Peter Bundgaard Rørdam and Anders Lund are the principal owners of BLS Capital, and hold their interests in BLS Capital indirectly through entities listed on the firm’s Schedule B in our ADV Part 1A. We are the investment adviser to a Danish-domiciled investment fund Kapitalforeningen BLS Invest (“BLS Invest” or “Danish Fund”) that employs two distinct investment strategies: one focusing on Danish equity securities and the other on global equity securities. BLS Invest is an investment fund regulated by the FSA and is listed on the Copenhagen stock exchange for investment funds (Nasdaq Copenhagen). BLS Invest

is marketed exclusively within Denmark and will not accept investments from any U.S. domiciled persons. We are the investment adviser to BLS Global Equities LLC, a Delaware limited liability company (the “U.S. Fund”). The U.S. Fund is marketed exclusively to qualified U.S. investors and is exempt from registration as an investment company pursuant to Section 3(c)(7) of the Investment Company Act of 1940, as amended. We also manage segregated accounts on behalf of U.S. institutions (“Segregated Accounts”). The term “U.S. Clients” is used in this brochure to refer collectively to the U.S. Fund and the Segregated Accounts, and individually to each such client, as the context requires. We employ a global equity investment strategy for U.S. Clients. As described in the U.S. Fund’s offering documents or as set forth in our agreement with a Segregated Account client, when agreed upon with the client, we will tailor our advisory services based on the client’s investment restrictions and objectives. As of December 31st, 2022, we managed $7,647,299,315 in client assets on a discretionary basis, where $2,052,411,410 was held by the Danish Fund and $5,594,887,905 was held by U.S. Clients.

BLS CAPITAL FONDSMAEGLERSELSKAB A/S

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