Sierra Global Management, LLC

Sierra Global Management, L.L.C. is an investment adviser registered with the SEC, based in New York City. Established in 1996, the firm provides discretionary investment advice to clients, managing approximately $145 million in assets as of December 31, 2022. Clients are typically charged a management fee ranging from 1.0% to 1.5% of total assets, paid quarterly in advance. Performance-based fees, ranging from 10% to 20%, may also apply. Sierra's investment strategies include global equity, short selling, option trading, and leverage. The firm employs fundamental research, cyclical analysis, and quantitative tools in its investment decisions. Clients have investment discretion, allowing Sierra to determine securities to be bought and sold, subject to client restrictions. Sierra's brokerage practices prioritize best execution and may involve soft-dollar arrangements for research and brokerage services. The firm reviews accounts daily, monthly, and quarterly to ensure compliance with investment guidelines. Sierra has no disciplinary history, financial impairments, or bankruptcy proceedings. Clients can contact the Chief Compliance Officer for further information on voting client securities or the firm's financial status.