9AT: TERAMO ADVISORS, LLC

TERAMO ADVISORS, LLC

TERAMO ADVISORS, LLC

EQUABLE SHARES

Adviser Profile

As of Date	03/31/2026
Registration	SEC, Approved, 12/29/2017
ADV Location	NAPLES, FL, United States
Contact Info	239 xxxxxxx
Websites

AUM^*	344,674,711 80%
of that, discretionary	344,674,711 80%
Number of Employees	5
of those in investment advisory functions	2
Private Fund GAV^*	0
Avg Account Size	172,337,356 441%
% High Net Worth	50.00% -40%
SMA’s	No
Private Funds	0

Adviser Type

- Large advisory firm
- An investment adviser (or subadviser) to an investment company

Client Types

- High net worth individuals
- Investment companies

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies

Compensation Arrangments

- A percentage of assets under your management

Reported AUM

345M 295M 246M 197M 148M 98M 49M

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Discretionary

Non-discretionary

Private Funds

No private funds

Employees

Brochure Summary

Overview

Teramo Advisors, LLC (“Teramo” or “Firm” or “Adviser”) is a Delaware limited liability company based in Naples, FL that has provided investment advisory services since 2018. Teramo is principally owned by RDJ Associates, LLC, which is controlled by Ronald A. Santella, Teramo’s Chief Executive Officer. Teramo offers investment advisory services to one open-end registered investment company (mutual fund) and to individual and institutional investors through separately managed accounts. Mutual Fund: Teramo serves as investment advisor to the Equable Shares Hedged Equity Fund (“Fund”), a series of the Series Portfolios Trust, an open-end registered investment company registered under the Investment Company Act of 1940, as amended. With respect

to the Fund, Teramo employs an options-based strategy that seeks income, risk mitigation and long-term capital appreciation. Separately Managed Accounts (“SMAs”): Teramo offers its investment advisory services to institutional investors and high net worth individuals (“SMA Clients”) who select a tailored investment strategy after consultation with Teramo. SMA clients generally engage Teramo to provide customized options-based hedging strategies against certain exposures held by the SMA client. SMA Clients may impose restrictions on investing in certain securities or types of securities. As of December 31, 2023, Teramo managed approximately $213.5 million of assets under management, all of which was managed on a discretionary basis.

TERAMO ADVISORS, LLC

TERAMO ADVISORS, LLC

EQUABLE SHARES

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Brochure Summary

Overview

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TERAMO ADVISORS, LLC TERAMO ADVISORS, LLC EQUABLE SHARES

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Brochure Summary

Overview

TERAMO ADVISORS, LLC

TERAMO ADVISORS, LLC

EQUABLE SHARES