9AT: ALDEBARAN CAPITAL, LLC

ALDEBARAN CAPITAL, LLC

ALDEBARAN CAPITAL, LLC

Adviser Profile

As of Date	03/31/2026
Registration	SEC, Approved, 06/02/2021
Other registrations (3)	Indiana, Terminated, 06/21/2021 Florida, Terminated, 06/18/2021 Texas, Terminated, 06/18/2021
ADV Location	CARMEL, IN, United States
Contact Info	317 xxxxxxx
Websites

AUM^*	166,904,220 12%
of that, discretionary	161,345,854 13%
Number of Employees	2
of those in investment advisory functions	2
Private Fund GAV^*	0
Avg Account Size	545,439 23%
% High Net Worth	26.58% 3%
SMA’s	No
Private Funds	0

Adviser Type

- Large advisory firm

Client Types

- Individuals (other than high net worth individuals)
- High net worth individuals
- Pension and profit sharing plans
- Charitable organizations
- Corporations or other businesses not listed above

Advisory Activities

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

Compensation Arrangments

- A percentage of assets under your management

Reported AUM

161M 138M 115M 92M 69M 46M 23M

2021 2022 2023 2024 2025 2026

Discretionary

Non-discretionary

Private Funds

No private funds

Employees

Brochure Summary

Overview

Aldebaran Capital, LLC (AC) was formed in January of 1999, in Indianapolis, Indiana, by Kenneth R. Skarbeck, CFA and Edward A. Skarbeck, who remain as the principal owners of the firm today. AC is a fee-only (see Item 5: Fees and Compensation) investment advisory firm that specializes in the management of stock portfolios for individual investors, businesses, and institutions, including not-for-profits. All accounts are managed as separate accounts, registered in each client's name, and held at a third-party Custodian. AC utilizes a fundamental / “value" approach when making investment decisions. Value investing seeks to identify discrepancies between stock market prices and the underlying values of businesses. Investments are made when companies (or shares of a company) can be purchased at a significant discount from their “intrinsic value.” When effectively implemented, value investing tends to reduce risk, as an identified gap between price and value creates a margin of safety. Our experience has shown that large discounts from intrinsic value are very likely to correct over time, thus leading to attractive long-term investment results. We practice value investing because it suits our temperament. Its principles contribute to the framework

for a rational and disciplined approach to investing. It allows us to think independently and to conduct a long-term investment operation that exploits the recurrent optimism and apprehension often present in the markets. Please refer to "Item 5: Fees and Compensation", and “Item 8: Methods of Analysis, Investment Strategies and Risk of Loss" for more detail. Our investment management services are tailored to each individual client to the extent that some clients will instruct AC as to certain types of investments, companies, or industries they do not wish to invest in. Most assets under management at AC are discretionary and do not require specific client consent. Any limitations on this authority, as to the amount or type of securities to be purchased or sold are determined during the initial consultation with the client. As a service to our clients, AC does maintain some accounts for clients on a non-discretionary basis. These accounts are separate from AC's managed accounts and are not charged management fees. AC does not participate in any "wrap fee programs." As of December 31, 2023, assets under management for AC clients were: Discretionary: 234 Accounts, $ 143,056,160 Non-discretionary: 103 Accounts, $ 6,420,294