Overview
Candlestick Capital Management LP, a Delaware limited partnership (“Candlestick”), was
founded in January 2019. Candlestick began operations as an investment adviser on October 1,
2019, and serves as the discretionary investment manager to its private fund Clients, as defined
below. Candlestick was founded by John “Jack” Woodruff, who serves as its Chief Investment
Officer. Mr. Woodruff (directly and through entities he controls) controls and is the majority
owner of Candlestick and its affiliated management and general partner entities.
Candlestick’s private fund Clients are Candlestick Master Fund LP, a Cayman Islands exempted
limited partnership (the “Master Fund”), Candlestick Cayman Feeder Ltd, a Cayman Islands
exempted company (the “Offshore Feeder”), Candlestick US Feeder LP, a Delaware limited
partnership (the “US Feeder,” together with the Offshore Feeder, the “Feeder Funds”) and
Candlestick US F&F Fund LP, a Delaware limited partnership (the “F&F Fund,” and together
with the Master Fund, the “Trading Funds”; the Trading Funds and Feeder Funds together are
the “Funds” or “Clients”). The Offshore Feeder and the US Feeder each invest substantially all
of their assets in the Master Fund. In addition, one investor (the “Strategic Investor”) invested
directly into a separate share
class of the Master Fund. The F&F Fund has the same investment
objective as, and is managed generally pari passu with, the Master Fund. Candlestick Funds GP
LLC (the “Candlestick GP”), an affiliate of Candlestick, acts as the general partner of the Master
Fund, the US Feeder and the F&F Fund.
Candlestick generally has broad investment authority with respect to its management of the
Trading Funds’ assets, although the Funds invest primarily in equity securities and related
financial instruments of U.S. and international companies.
Candlestick does not tailor its advisory services to the individual needs of investors in the Funds
(“Fund Investors”) and generally does not accept Fund Investor-imposed investment restrictions.
However, Candlestick may advise separately managed accounts for particular clients, in which
event such accounts will be subject to investment objectives, guidelines and restrictions, fee
arrangements and other terms individually negotiated with each such separate account holder.
Candlestick does not participate in wrap fee programs.
As of December 31, 2023, Candlestick’s regulatory assets under management were
approximately $6,086,161,000, all of which are managed on a discretionary basis. Candlestick does
not manage assets on a non-discretionary basis.