Item 5 – Additional Compensation ............................................................................................................................... 21 Item 6 - Supervision ............................................................................................................................................................... 22 Part 2B of Form ADV: Brochure Supplement – Carlos D. I. Butcher .......................... 23 Item 1 – Cover Page ................................................................................................................................................................ 23 Item 2 – Educational Background and Business Experience .................................................................... 24 Item 3 – Disciplinary Information .................................................................................................................................. 24 Item 5 – Additional Compensation .............................................................................................................................. 25 Item 3 – Table of Contents Item 6 - Supervision ............................................................................................................................................................... 25 INTRODUCTION Birch Capital Management, LLC is a federal (SEC) Registered Investment Advisory firm registered since February 26th, 2018. We are registered in our home state of Texas and the state of Missouri which means we are registered to do business in these states. We may conduct business in other states by claiming an exemption from registration. Our registration as an Investment Adviser does not imply any level of skill or training. The oral and written communications we provide you, including this brochure, is information you can use to evaluate us and other advisers, which are factors in your decision to hire us or to continue to maintain a mutually beneficial relationship. This Brochure provides information about our qualifications and business practices. OWNERSHIP Barclay D. Nelson, Managing Member and Chief Compliance Officer, is the sole member and owner of Birch Capital Management, LLC. ADVISORY SERVICES OFFERED Birch Capital Management, LLC is an investment advisory firm providing:
• investment management on a discretionary and non-discretionary basis, and
• wealth management (financial planning and investment management) Our services are tailored to clients through customized investment management that addresses specific goals, objectives, risk tolerance and preferences. Specific investments recommended will depend on these factors. Our service constitutes an ongoing process by which: a) Your investment objectives, constraints and preferences are identified, monitored, and updated. b) Client specific strategies are developed and implemented utilizing a combination of financial assets and techniques. c) Capital market conditions and your circumstances are monitored. d) Portfolio adjustments are made as appropriate to reflect significant changes to any or all of the above relevant variables. Portfolios can consist of individual stocks and bonds, options, mutual funds, ETF’s, limited partnerships, and/or hedge funds. We also may provide advice on interests in partnerships or other alternative investments. INVESTMENT MANAGEMENT: We provide investment management services on a discretionary basis. Our investment management program is designed to provide individuals, trusts, foundations, and corporations with the appropriate asset allocation, diversification, and risk characteristics consistent with prudent portfolio management. 6 On a discretionary

basis, we design, manage, monitor, and update a custom portfolio for clients. The investments are determined based upon client investment objectives, risk tolerance, net worth, net income, age, investment time horizon, tax situation and other suitability factors. On a non-discretionary basis, we perform due diligence on and recommend private real estate managers that we may find to be appropriate for certain clients. Custody of client accounts for both securities and funds are generally maintained at Charles Schwab & Co, but some exceptions apply. WEALTH MANAGEMENT: Where appropriate and in addition to investment management, our firm provides advice in the form of a financial plan. This service provides a tailored analysis of your current situation and recommendations to achieve your objectives. Our financial plan service addresses any or all of the following areas of concern:
• objectives and preferences: a clear distillation of client objectives and financial preferences,
• current financial situation: statements of income and balance sheet and other graphical representations of spending where appropriate,
• cash flow and expense review,
• debt review,
• emergency fund review,
• risk management review,
• retirement plan,
• education and large purchase plans,
• investment review and recommendations,
• tax review, and
• estate plan review. Our Firm gathers required information through in-depth personal interviews. Information gathered includes a current financial status, and future goals and attitudes towards risk. Related documents supplied by you and a completed questionnaire are carefully reviewed and recommendations are provided to you. We assist clients in determining final courses of action with clients’ existing professional service providers or our own internal resources or recommendations. We may recommend alternative investments that may be suitable for stated investment goals, risk tolerance, and preferences. Alternative investments can range from short-term to long term investment vehicles that have various investment objectives including revenue from the production of natural gas and/oil associated with those oil & gas royalty interests acquired for the fund, real estate interests, structured notes, hedge funds, and private equity funds, etc. Our Firm has no affiliation with the issuers. Additional information for suggested alternative investment including a discussion of certain significant risks of investing will be disclosed in the related Private Placement Memorandum. Qualified persons should read the memorandum carefully before investing. Fiduciary Statement We are fiduciaries under the Investment Advisers Act of 1940 and when we provide investment advice to you regarding your retirement plan account or individual retirement account, we are also fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act, (“ERISA”) and/or the Internal Revenue Code, (“IRC”), as applicable, which are laws governing retirement accounts. We have to act in your best interest and not put our interest ahead of yours. At the same time, the way we make money creates some conflicts with your interests. We must take into consideration each client’s objectives and act in the best interests of the client. We are prohibited from engaging in any activity that is in conflict with the interests of the client. We have the following responsibilities when working with a client:
• To render impartial advice;
• To make appropriate recommendations based on the client’s needs, financial circumstances, and investment objectives;
• To exercise a high degree of care and diligence to ensure that information is presented in an accurate manner and not in a way to mislead;
• To have a reasonable basis, information, and understanding of the facts in order to provide appropriate recommendations and representations;
• Disclose any material conflict of interest in writing; and
• Treat clients fairly and equitably. Regulations prohibit us from:
• Employing any device, scheme, or artifice to defraud a client;
• Making any untrue statement of a material fact to a client or omitting to state a material fact when communicating with a client;
• Engaging in any act, practice, or course of business which operates or would operate as fraud or deceit upon a client; or
• Engaging in any manipulative act or practice with a client. We will act with competence, dignity, integrity, and in an ethical manner, when working with clients. We will use reasonable care and exercise independent professional judgement when conducting investment analysis, making investment recommendations, trading, promoting our services, and engaging in other professional activities. ASSETS UNDER MANAGEMENT As of December 31, 2022, Birch Capital Management, LLC had approximately $199,603,587 of discretionary assets under management and $3,550,000 in non-discretionary assets under management for a total of approximately $203,153,587 in total assets. Our fees are negotiated and are levied on a percentage of assets under management basis, or on an hourly fee basis. The fees are negotiated on a case-by-case basis and will vary. Fees are charged by account. Compensation is payable quarterly in arrears based on average daily market values (when available) after services have been provided and are not refundable.