9AT: HIGH TRAIL CAPITAL

HIGH TRAIL CAPITAL

Related Companies

HIGH TRAIL CAPITAL LP
HIGH TRAIL CAPITAL LP ERA

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other names

HIGH TRAIL CAPITAL
HIGH TRAIL CAPITAL LP

Adviser Profile

As of Date	03/30/2026
Registration	SEC, Approved, 08/07/2020
Other registrations (1)	SEC, ERA - Withdrawn, 06/24/2020
Former registrations	HIGH TRAIL CAPITAL LP
ADV Location	HOBOKEN, NJ, United States
Contact Info	917 xxxxxxx
Websites

AUM^*	296,893,000 45%
of that, discretionary	0
Private Fund GAV^*	0
Avg Account Size	49,482,167 45%
SMA’s	No
Private Funds	0

Adviser Type

- Large advisory firm

Number of Employees 3

of those in investment advisory functions 2 -33%

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- Fixed fees (other than subscription fees)
- Performance-based fees

Reported AUM

497M 426M 355M 284M 213M 142M 71M

2020 2021 2022 2023 2024 2025 2026

Discretionary

Non-discretionary

Private Funds

GAV Count

Employees

Brochure Summary

Overview

The Adviser is an investment adviser with its principal place of business in Hoboken, New Jersey. The Adviser commenced operations as an investment adviser on August 1, 2019. High Trail Capital GP LLC is the general partner of the Adviser. Eric Helenek is the managing member of High Trail Capital GP LLC and the principal owner of the Adviser. The Adviser serves as a sub-adviser to Hudson Bay Capital Management LP (the “Primary Advisor”) and: 1. HT Investments MA LLC, 2. High Trail Investments ON LLC, 3. High Trail Investment SA LLC, 4. High Trail Special Situations LLC, and 5. High Trail Special Situations BL I LLC. All of which are special purpose vehicles (“SPVs”) advised by the Primary Advisor under a private fund master-feeder structure intended for sophisticated investors and institutional investors, pursuant to the terms of a non-discretionary sub-advisory agreement entered into among the Adviser,

the Primary Advisor, and the SPVs (the “Sub-Advisory Agreement”). The Adviser provides advice to client accounts based on specific investment objectives and strategies as set forth in the Sub-Advisory Agreement. Under certain circumstances, the Adviser will agree to tailor advisory services to the individual needs of clients. Pursuant to the terms of the Sub-Advisory Agreement, the Primary Advisor may elect to allocate investment opportunities recommended by the Adviser for investment by the SPVs to other investment vehicles managed under the same master-feeder structure. Clients may impose restrictions on investing in certain securities or certain types of securities. The Adviser does not provide investment advisory services in connection with any wrap fee programs. As of December 31, 2023, the Adviser managed approximately $496,776,012 client assets under management on a non-discretionary basis.