9AT: BALLAST ASSET MANAGEMENT

BALLAST ASSET MANAGEMENT

BALLAST ASSET MANAGEMENT

BALLAST ASSET MANAGEMENT, LP

Adviser Profile

As of Date	07/09/2026
Registration	SEC, Approved, 11/09/2020
ADV Location	DALLAS, TX, United States
Contact Info	469 xxxxxxx
Websites

AUM^*	220,658,717 31%
of that, discretionary	220,658,717 31%
Number of Employees	5
of those in investment advisory functions	3
Private Fund GAV^*	0
Avg Account Size	110,329,359 31%
SMA’s	Yes
Private Funds	0

Adviser Type

- An investment adviser (or subadviser) to an investment company

Client Types

- Investment companies
- Pension and profit sharing plans

Advisory Activities

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

Compensation Arrangments

- A percentage of assets under your management

Reported AUM

221M 189M 158M 126M 95M 63M 32M

2020 2021 2022 2023 2024 2025 2026

Discretionary

Non-discretionary

Private Funds

No private funds

Employees

Brochure Summary

Overview

Ballast Asset Management, LP (“BAM” or “Firm”) is a limited partnership organized in the State of Texas. Founded in 2015, BAM is an investment advisory services firm with a focus on small & mid-capitalization equity securities. Our clients include a registered exchange-traded fund (“ETF”) and separately managed accounts. The principal owner of BAM is Ragen Stienke. Our general partner is Inverdale Capital Management, LLC. BAM serves as the investment adviser to an ETF traded on the NYSE under the ticker MGMT, named the Ballast Small / Mid Cap ETF (hereinafter “ETF Fund”). We also serve as the investment adviser to separately managed accounts, including pension plans (hereinafter “SMA”). ETF Fund and SMAs, collectively, will be referred to as “Clients.” In providing our advisory services, we seek to achieve superior risk-adjusted returns on capital by adhering to consistent

investment processes and an unwavering commitment to the highest ethical standards. For more information on the investment strategy of our clients, please see Item 8: Method of Analysis, Investment Strategy and Risk of Loss. Our Firm tailors our advisory services in accordance with our SMA clients’ needs and investment strategy as disclosed in the separately managed account agreements, which allow for investing in a broad array of securities with the goal of achieving our SMA clients’ investment objectives. With regard to the ETF Fund, we tailor our investment strategy and decisions as disclosed in the ETF Fund’s Prospectus and Statement of Additional Information. Currently, BAM employs the same strategy for its ETF Fund and SMAs. We do not participate in any wrap fee programs. As of December 31, 2023, BAM managed $168,469,249 in client assets on a discretionary basis.

BALLAST ASSET MANAGEMENT

BALLAST ASSET MANAGEMENT

BALLAST ASSET MANAGEMENT, LP

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Brochure Summary

Overview

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BALLAST ASSET MANAGEMENT BALLAST ASSET MANAGEMENT BALLAST ASSET MANAGEMENT, LP

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Brochure Summary

Overview

BALLAST ASSET MANAGEMENT

BALLAST ASSET MANAGEMENT

BALLAST ASSET MANAGEMENT, LP