A. Description of the Advisory Firm
Hilbert 8, LLC (hereinafter “H8”) is a Limited Liability Company organized on May 8th, 2013, in the
State of Delaware. The principal owners are Ibrahim Diane, Konstantinos Argyropoulos, and
Marina Spyridaki.
B. Types of Advisory Services
Portfolio Management Overview
H8 offers our clients personalized investment advice by:
• Working with you to identify your investment goals
• Developing strategies to reach those goals
• Selecting investment products to meet your specific objectives
• Implementing our advice for you
• Managing and monitoring your portfolio
We provide these personalized portfolio management services in separately managed accounts
(SMAs), and also provide ongoing portfolio management to a private fund, Hilbert 8 Multi-Strategy
I, LP, which is only for qualified investors.
For separately managed accounts, H8’s portfolio management services are based on each
client’s individual financial goals, investment objectives, time horizon, and risk tolerance. H8 takes
into consideration the personal investment experience and financial requirements for each client,
outlines the client’s current situation including any known future financial events (stock option
vesting, sale of a business or property, kids’ college expenses, etc.) and then constructs a plan
to aid in the selection of a portfolio that matches each client's specific situation. Portfolio
management services include, but are not limited to, determining investment strategy, advising
on personal investment policy, risk tolerance questionnaire and analysis, asset allocation
recommendation, asset selection, and regular portfolio monitoring
H8 evaluates the current investments of each client with respect to their risk tolerance levels and
time horizon. H8 requests (but does not require) discretionary authority for SMA accounts in order
to select securities and execute transactions without permission from the client prior to each
transaction. Risk tolerance levels are documented in the Investment Advisory Contract’s
Investment Risk Tolerance Questionnaire, which is completed and signed with each client.
For Hilbert 8 Multi-Strategy I, LP, H8 manages the pooled investment in the best interests of
the fund as its client. Information discussed below in this firm brochure is broadly applicable to
the private fund but investors (and potential investors) in Hilbert 8 Multi-Strategy I, LP should
consult the fund’s private placement memorandum and other fund documents for greater detail
and legal disclosures. H8 manages the fund’s assets on a discretionary basis. H8 will recommend
investment in this private fund only to those SMA clients who are qualified investors and for which
investment in the fund is suitable.
© 2024 All Rights Reserved. 420 Lexington Avenue, Suite 1713, New York, NY 10170 6
Portfolio Management Approach
H8 primarily utilizes a modern value investing strategy for our clients. We generally limit our
investment advice to fixed income securities, equities, ETFs (including
ETFs in the gold and
precious metal sectors and leveraged ETFs), options (primarily on US listed ETFs, volatility, and
equity derivatives), mutual funds, real estate funds (including REITs), treasury inflation
protected/inflation linked bonds, non-US securities, and private placements (including investment
in Hilbert 8 Multi-Strategy I, LP), but may use other securities as well to help diversify a portfolio
when applicable or if requested by the client.
By law, we must follow the highest legal standard of conduct, called a fiduciary standard, and our
own internal policies and procedures require the highest ethical and professional standards from
all our advisors and employees. We seek to provide investment decisions that are made in
accordance with the fiduciary duties owed to our clients and without consideration of H8’s
economic, investment, or other financial interests. To meet our fiduciary obligations, H8 attempts
to avoid, among other things, investment or trading practices that systematically advantage or
disadvantage certain client portfolios, and accordingly, H8’s policy is to seek fair and equitable
allocation of investment opportunities and transactions it identifies as being appropriate and
prudent among its clients to avoid favoring one client over another over time.
C. Client Tailored Services and Client Imposed Restrictions
H8 will tailor a program for each individual SMA client (leaving aside management of the fund,
which necessarily differs to an extent from separately managed accounts). The approach for
SMAs will include an interview session to get to know the client’s specific needs and requirements
as well as a plan that will be executed by H8 on behalf of the client. H8 goes beyond the standard
risk-tolerance appraisal by having an in-depth knowledge of clients' financial positions as well as
their business ventures in order to best advise them on their personal savings and family
investment strategies. H8 will meet with clients at least annually to ensure client goals are being
addressed and, if necessary, that the investment approach is adjusted.
Clients may impose restrictions on H8 investing in certain securities or types of securities in
accordance with their preferences, values, and beliefs as specified in the Investment Advisory
Contract. However, if the restrictions prevent H8 from properly servicing the client account, or if
the restrictions would require H8 to deviate from its standard suite of services, H8 reserves the
right to accept those IAC restrictions.
D. Wrap Fee Programs
H8 does not participate in any wrap fee programs. For your information, a wrap fee program is a
fee agreement whereby the investor pays one stated fee that includes the RIA management fees,
transaction costs, fund expenses, custody fees, and other administrative fees.
© 2024 All Rights Reserved. 420 Lexington Avenue, Suite 1713, New York, NY 10170 7
E. Assets Under Management
H8 has the following assets under management:
Discretionary Amounts: Non-Discretionary Amounts: Date Calculated:
$9,463,408.72 $33,232,639.16 March 1st, 2024