Overview
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A. Cunning Capital, LLC (“Adviser” or “Cunning”) is a North Carolina limited liability company formed
in January 2013, with its principal place of business in Raleigh, NC. Adviser is equally owned by
David Russell Cunningham and Elizabeth Leigh Foreman, CPA. Adviser is registered with the
SEC as an investment adviser pursuant to the federal Investment Advisers Act of 1940, as
amended (the “Advisers Act”).
B. Adviser is an investment firm that provides discretionary investment management services, solely
to private investment funds sponsored by Adviser. The firm currently provides portfolio
management services to Cunning Capital Partners, LP, a Delaware limited partnership (the
“Partnership”). Adviser also serves as General Partner of the Partnership.
C. Adviser has been retained by the Partnership to act as its discretionary investment adviser. The
specific terms and conditions applicable to the Partnership, as well as the Partnership’s
investment focus, investment guidelines, and investment restrictions, if any, are described in the
Partnership’s confidential private placement memorandum (the “Memorandum”). Generally, the
Partnership’s investment objective is to achieve long-term capital appreciation on its investments.
The Partnership seeks to achieve this
objective through the application of the Adviser’s
disciplined, long-term approach, focused on buying and selling common stocks.
D. This Brochure is neither an offer to sell nor a solicitation of an offer to buy interests in the
Partnership. Such an investment may be made only after receipt and review of the
Memorandum. Upon request to Adviser, a copy of the Memorandum is available to persons
meeting applicable investor eligibility criteria. The Memorandum contains important information
concerning risk factors and other material aspects of the Partnership and must be read carefully
before any decision whether to invest is made. The information in this document is qualified in its
entirety by, and should be read in conjunction with, the information contained in the
Memorandum.
E. Adviser provides investment advisory services to the Partnership based on the investment
objective of the Partnership. Adviser does not provide tailored investment advice to the
Limited Partners of the Partnership .
F. Adviser does not participate in and is not a sponsor of any wrap fee programs.
G. As of December 31, 2023, Adviser manages $171,255,234.39 in regulatory assets under
management on a discretionary basis, all of which belonging to the Partnership. Adviser
does not manage non-discretionary assets.