9AT: STEAMBOAT CAPITAL PARTNERS, LLC

other names

STEAMBOAT CAPITAL PARTNERS, LLC

Adviser Profile

As of Date	03/31/2026
Adviser Type - Large advisory firm
Number of Employees	4 33%
of those in investment advisory functions	3
Registration	SEC, Approved, 07/06/2016
Other registrations (1)	SEC, ERA - Withdrawn, 06/28/2016

AUM^*	515,639,073 39%
of that, discretionary	515,639,073 39%
Private Fund GAV^*	432,159,136 49%
Avg Account Size	85,939,846 62%
SMA’s	No
Private Funds	4
Contact Info	212 xxxxxxx
Websites

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

Fund Type	Count	GAV
Fund TypeHedge Fund	Count4	GAV$432,159,136

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 PROSPECT CAPITAL ADVISORS, LLC	Hedge Fund302.4m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV302.4m	AUM309.4m	#Funds2
Adviser THIRD NORTH CAPITAL LP	Hedge Fund184.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV184.2m	AUM432.2m	#Funds2
Adviser BLACK SWIFT GROUP, LLC	Hedge Fund77.3m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV77.3m	AUM694.1m	#Funds4
Adviser COWBIRD CAPITAL LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM355.5m	#Funds-
Adviser SELDON CAPITAL LP	Hedge Fund401.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV401.8m	AUM517.8m	#Funds3
Adviser SAGE ROCK CAPITAL MANAGEMENT LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM86.5m	#Funds-
Adviser RHINO INVESTMENT PARTNERS, INC.	Hedge Fund254.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV254.5m	AUM566.2m	#Funds4
Adviser KENT LAKE PR LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM470.8m	#Funds-
Adviser TOWER BAY ASSET MANAGEMENT LP	Hedge Fund213.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV213.7m	AUM513.6m	#Funds4
Adviser CARL MARKS MANAGEMENT COMPANY, LLC	Hedge Fund296.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV296.5m	AUM374.5m	#Funds4

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker00108J109	Stock NameACM RESEARCH INC	$ Position$19,889,151	% Position5.00%	$ Change-3.00%	# Change-4.00%
Stck Ticker02079K107	Stock NameALPHABET INC	$ Position$17,805,640	% Position5.00%	$ Change31.00%	# Change1.00%
Stck Ticker156431108	Stock NameCENTURY ALUMINUM COMPANY	$ Position$16,604,797	% Position5.00%	$ Change20.00%	# Change-10.00%
Stck TickerN00985106	Stock NameAERCAP HOLDINGS NV	$ Position$14,385,919	% Position4.00%	$ Change7.00%	# Change-10.00%
Stck Ticker05964H105	Stock NameBANCO SANTANDER SA	$ Position$10,603,052	% Position3.00%	$ Change-27.00%	# Change-34.00%
Stck Ticker11135F101	Stock NameBROADCOM INC	$ Position$12,345,387	% Position3.00%	$ Change-11.00%	# Change-15.00%
Stck Ticker20464U100	Stock NameCOMPASS INC	$ Position$10,372,806	% Position3.00%	$ Change54.00%	# Change17.00%
Stck Ticker37940X102	Stock NameGLOBAL PAYMENTS INC	$ Position$10,537,236	% Position3.00%	$ Change-7.00%	# Change0.00%
Stck Ticker402635502	Stock NameGULFPORT ENERGY CORP	$ Position$9,474,568	% Position3.00%	$ Change15.00%	# Change0.00%
Stck Ticker40637H109	Stock NameHALOZYME THERAPEUTICS INC	$ Position$9,707,352	% Position3.00%	$ Change-7.00%	# Change1.00%

Brochure Summary

Overview

Steamboat Capital Partners, LLC (which we sometimes refer to as “Steamboat”) is a Delaware limited liability company formed in 2012. Our principal owner is Steamboat Capital Partners Trust, a trust formed for estate planning purposes by Parsa Kiai, our managing member and portfolio manager. In this document, the words “we” and “our” refer to Steamboat. We employ a fundamental, value-oriented investment strategy with a principal focus on listed equity and debt securities we believe are mispriced relative to their intrinsic values. We invest opportunistically across sectors and market capitalizations. The investment objective is to achieve superior, long-term compounded annual returns on capital while minimizing the risk of permanent loss. We believe concentrating on our best ideas leads to the best outcomes and therefore may take relatively concentrated positions. Selling securities short is a significant part of our investment strategy. We provide investment advice to (i) Steamboat Capital Partners Master Fund, LP (the “Master Fund”); (ii) Steamboat Capital Partners Fund, LP and Steamboat Capital Partners Offshore Fund, Ltd. (which invest through the Master Fund); (iii) Steamboat Capital Partners II, LP (a fund for certain non- qualified purchasers, which to the extent

legally possible generally invests pari passu with the Master Fund); and (iv) three separately managed accounts for pooled investment vehicles using strategies similar to that of the Master Fund. We also provide investment advice to another investment adviser (the “IA Client”) for whom we do not have any regulatory assets under management and for which we do not manage any investments. We refer to Steamboat Capital Partners Fund, LP and Steamboat Capital Partners Offshore Fund, Ltd. as the “Feeder Funds” and Steamboat Capital Partners Master Fund, LP as the “Master Fund”. We refer to Steamboat Capital Partners II, LP as the 3(c)(1) Fund. The Feeder Funds, the 3(c)(1) Fund and the Master Fund are referred to collectively as the “Funds”. The other accounts we manage are referred to as the “SMA”. We generally do not tailor our advisory services to the individual needs of clients, but certain of the SMA have negotiated restrictions on investing in certain securities or types of securites or other restrictions on positions or the overall portfolio. As of February 28, 2024, our assets under management (calculated in accord with the method for computing regulatory assets under management) were approximately $371.3 million on a discretionary basis on behalf of 7 clients.

STEAMBOAT CAPITAL PARTNERS, LLC

Adviser Profile

Details

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Top Holdings

Brochure Summary

Overview