Stone Forest Capital, LLC

Stone Forest Capital, LLC is an investment adviser based in New York, established on September 5, 2014. The firm specializes in providing investment advisory services on a discretionary basis to pooled investment vehicles for sophisticated and institutional investors. Stone Forest Capital manages regulatory assets under management of $123,093,936 as of December 31, 2022. The firm charges asset-based management fees to its clients, which are detailed in each fund's offering memorandum. Additionally, Stone Forest Capital may receive performance-based compensation from the funds. The firm's investment strategies include equity, fundamental value, hedging, growth, relative value, leverage, and option trading. Stone Forest Capital emphasizes risk management and discloses material risks associated with its investment strategies, such as equity securities, undervalued/overvalued securities, issuer-specific changes, hedging, international investing, interest rate risks, leverage, and inflation risk. The firm has adopted a Code of Ethics to ensure fair and honest dealings with clients and has established proxy voting policies to vote in the best interests of clients. Stone Forest Capital has custody of the funds' assets and complies with Rule 206(4)-2 under the Advisers Act. The firm may compensate third-party solicitors for client referrals and has established policies for order aggregation and cross transactions to benefit clients. Stone Forest Capital's practices are designed to manage conflicts of interest and ensure fair treatment of clients.