Kerrisdale Advisers, LLC

Kerrisdale Advisers, LLC is a New York limited liability company specializing in investment management services. Established in April 2009, the firm manages private pooled investment vehicles, including the Flagship Funds and the Long Only Fund, with approximately $450 million in net assets under management as of January 1, 2023. Kerrisdale charges management fees of up to 0.5% quarterly and performance allocations of up to 20% annually. The firm's investment strategy focuses on fundamental and valuation analyses, investing in equity and debt securities, options, and other asset classes. Kerrisdale's investment philosophy emphasizes in-depth research for long-term value recognition. The firm may engage in short selling, leverage, and derivatives trading. Kerrisdale's investment process involves generating ideas from undervalued securities, industries, or businesses undergoing change. The firm's external communications on investments aim to explain rationales to the public. Kerrisdale's brokerage practices include aggregation and allocation of client transactions, seeking best execution, and utilizing soft dollars for research services. The firm has a Code of Ethics for personal trading and client transactions, and it maintains proxy voting authority for client securities. Kerrisdale's financial condition is stable, ensuring its ability to meet client obligations. For more detailed information, investors can request specific policies and agreements from Kerrisdale directly.