9AT: PABRAI WAGONS ADVISORS

Adviser Profile

As of Date	08/27/2026
Registration	SEC, Approved, 09/28/2022
Other registrations (3)	SEC, ERA - Withdrawn, 08/26/2022 Texas, ERA - Withdrawn, 08/26/2022 California, ERA - Withdrawn, 09/13/2021
Former registrations	DHANDHO FUNDS LLC
ADV Location	WEST LAKE HILLS, TX, United States
Contact Info	512 xxxxxxx
Websites

AUM^*	104,034,265 -11%
of that, discretionary	104,034,265 -11%
Number of Employees	5 25%
of those in investment advisory functions	3
Private Fund GAV^*	0
Avg Account Size	104,034,265 437%
SMA’s	No
Private Funds	0 4

Adviser Type

- Large advisory firm
- An investment adviser (or subadviser) to an investment company
- Related adviser

Client Types

- Investment companies

Advisory Activities

- Portfolio management for investment companies

Compensation Arrangments

- A percentage of assets under your management

Adviser	Hedge Fund	Liquidity Fund	Private Equity Fund	Real Estate Fund	Securitized Asset Fund	Venture Capital Fund	Other Fund	Total Private Fund GAV	AUM	#Funds
Adviser GREENWOOD INVESTORS LLC	Hedge Fund257.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV257.6m	AUM179.8m	#Funds11
Adviser ARMADA CAPITAL LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM89.9m	#Funds-
Adviser MARKIN ASSET MANAGEMENT, LP	Hedge Fund39.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV39.6m	AUM152.5m	#Funds2
Adviser IN-DEPTH PARTNERS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM176.8m	#Funds-
Adviser PREVATT CAPITAL LTD	Hedge Fund571.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV571.5m	AUM571.5m	#Funds3
Adviser ASTRA ASSET MANAGEMENT UK LIMITED	Hedge Fund264.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV264.0m	AUM425.8m	#Funds1
Adviser ONCE CAPITAL MANAGEMENT, LLC	Hedge Fund422.1m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV422.1m	AUM422.1m	#Funds4
Adviser BLUE DOOR ASSET MANAGEMENT, LLC	Hedge Fund278.1m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV278.1m	AUM187.0m	#Funds4
Adviser TFJ MANAGEMENT, LLC	Hedge Fund171.1m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV171.1m	AUM198.4m	#Funds2
Adviser WINDWARD MANAGEMENT LP	Hedge Fund245.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV245.6m	AUM191.6m	#Funds4

Brochure Summary

Overview

A. General Description of Advisory Firm Dhandho Funds LLC is a limited liability company (the “Adviser”) that was formed on January 4, 2016 in Puerto Rico. Effective December 27, 2016, the Adviser converted to a Delaware limited liability company. There was no practical change in control or management of the Adviser as a result of the conversion. The principal owners of the Adviser are Dhandho Holdings, L.P. and Dhandho Holdings Qualified Purchaser, L.P. (together “Dhandho Holdings”), of which Mohnish Pabrai is the ultimate controlling person. The Adviser serves as general partner to or manager of four private funds: Dhandho Junoon LP, Dhandho Junoon Offshore Ltd., Dhandho India Zero Fee Fund, L.P. and Dhandho India Zero Fee Fund Offshore Ltd. The four private funds are being liquidated and all capital will be returned to investors in 2024 after a final audit as of June 30, 2024. B. Description of Advisory Services The Adviser provides investment management services to limited partnerships or companies (“Private Fund” or “Private Funds”) organized under the laws of the United States or the British Virgin Islands; separately managed accounts (“SMAs”); and a mutual fund (“Mutual Fund”), the Pabrai Wagons Fund (Retail Share: WAGNX, Institutional Share: WGNIX), collectively referred to as “Clients.” The Adviser serves as general

partner to or manager of each Private Fund. Please refer to Item 8 for a more detailed description of the Adviser’s management strategies as well as the securities and other instruments purchased by the Adviser on behalf of the Clients. C. Availability of Customized Services for Individual Clients The Advisor tailors its advisory services as described in the relevant Private Fund’s private placement memorandum and/or organizational documents, the Investment Policy Statement for the SMA accounts and the Mutual Fund’s Summary and Statutory Prospectus and Statement of Additional Information. Advisory services for each Private Fund are not tailored to the individual needs of investors. Investors may not impose restrictions on the Adviser with respect to the investments it makes on behalf of the Clients. SMA clients may impose reasonable restrictions, in writing, on investing in certain securities or types of securities held in their portfolio. The Mutual Fund has adopted written investment restrictions and is also subject to regulatory requirements. D. Wrap Fee Programs The Adviser does not participate in wrap fee programs. E. Assets Under Management The Adviser’s collective Client regulatory assets under management as of December 31, 2023, were $116,270,544, all of which are managed on a discretionary basis.

PABRAI WAGONS ADVISORS

PABRAI WAGONS ADVISORS

DHANDHO FUNDS LLC

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Client Types

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Reported AUM

Private Funds

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Overview

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PABRAI WAGONS ADVISORS PABRAI WAGONS ADVISORS DHANDHO FUNDS LLC

Related Companies

Adviser Profile

Details

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Similar advisers

Brochure Summary

Overview

PABRAI WAGONS ADVISORS

PABRAI WAGONS ADVISORS

DHANDHO FUNDS LLC