9AT: TROLUCE CAPITAL ADVISORS LLC

other names

TROLUCE CAPITAL ADVISORS LLC

Adviser Profile

As of Date	08/28/2025
ADV Location	DORADO, PR, United States
Adviser Type - Large advisory firm
Number of Employees	5
of those in investment advisory functions	3
Registration	SEC, Approved, 04/07/2023
Other registrations (3)	SEC, 120-Day Approval, 04/07/2023 SEC, Terminated, 02/28/2023 SEC, Approved, 04/02/2021
Former registrations	TROLUCE CAPITAL ADVISORS LLC

AUM^*	1,482,034,650 230%
of that, discretionary	1,482,034,650 230%
Private Fund GAV^*	1,333,625,060 1%
Avg Account Size	185,254,331 189%
% High Net Worth	12.50% -50%
SMA’s	No
Private Funds	7 3
Contact Info	646 xxxxxxx
Websites

Client Types

- High net worth individuals
- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Fund Type	Count	GAV
Fund TypeHedge Fund	Count7	GAV$1,333,625,060

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 ODIN CAPITAL MANAGEMENT	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM249.9m	#Funds-
Adviser SCION ASSET MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM154.9m	#Funds-
Adviser BLUE SQUARE ASSET MANAGEMENT, LLC	Hedge Fund24.4m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV24.4m	AUM357.7m	#Funds1
Adviser SHADOWFALL CAPITAL & RESEARCH LLP	Hedge Fund79.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV79.8m	AUM250.2m	#Funds1
Adviser ESTUARY CAPITAL MANAGEMENT LP	Hedge Fund865.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV865.5m	AUM865.5m	#Funds3
Adviser MONTROSE ADVISORS INC	Hedge Fund25.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV25.0m	AUM647.5m	#Funds1
Adviser YOST CAPITAL MANAGEMENT, LP	Hedge Fund214.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV214.9m	AUM214.9m	#Funds2
Adviser A.R.T. ADVISORS, LLC	Hedge Fund273.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV273.8m	AUM273.8m	#Funds2
Adviser LOKKEN INVESTMENT GROUP, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM366.5m	#Funds-
Adviser GAME CREEK CAPITAL, LP	Hedge Fund172.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV172.2m	AUM240.5m	#Funds2

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker78462F103	Stock NameSPDR S&P 500 ETF TR (PUT)	$ Position$99,927,000	% Position14.00%	$ Change224.00%	# Change200.00%
Stck Ticker49177J102	Stock NameKENVUE INC (CALL)	$ Position$73,035,000	% Position10.00%	$ Change3389.00%	# Change4400.00%
Stck Ticker343412102	Stock NameFLUOR CORP NEW (CALL)	$ Position$59,949,750	% Position8.00%	$ Change	# Change
Stck Ticker343412102	Stock NameFLUOR CORP NEW	$ Position$42,070,000	% Position6.00%	$ Change-37.00%	# Change-23.00%
Stck Ticker14040H105	Stock NameCAPITAL ONE FINL CORP	$ Position$40,602,780	% Position6.00%	$ Change13.00%	# Change13.00%
Stck Ticker438516106	Stock NameHONEYWELL INTL INC (CALL)	$ Position$42,100,000	% Position6.00%	$ Change	# Change
Stck Ticker02156V109	Stock NameOKLO INC (PUT)	$ Position$30,698,250	% Position4.00%	$ Change	# Change
Stck Ticker278768106	Stock NameECHOSTAR CORP (PUT)	$ Position$28,718,996	% Position4.00%	$ Change	# Change
Stck Ticker30063P105	Stock NameEXACT SCIENCES CORP (CALL)	$ Position$27,355,000	% Position4.00%	$ Change	# Change
Stck TickerG9456A100	Stock NameGOLAR LNG LTD (CALL)	$ Position$30,307,500	% Position4.00%	$ Change-2.00%	# Change0.00%

Brochure Summary

Overview

Troluce Capital Advisors, LLC (the “Firm”) is a Puerto Rico (USA) limited liability company that was formed in January 2021. The Firm is principally owned and controlled by Jared Dubin, the Firm’s Chief Investment Officer (the “Principal”). The Firm provides discretionary investment advice to the following private funds (together, the “Private Funds”): (i) Troluce Master Fund, LP (the “Master Fund”), (ii) Troluce Offshore Fund, LTD (the “Offshore Fund”), and (iii) Troluce Onshore Fund, LP (the “Onshore Fund”). The Firm also provides discretionary investment advice to Troluce Special Opportunities I, LP (the “Special Opportunity Fund” and collectively with the Private Funds, the “Funds”). The Firm also provides sub-advisory services r to private funds (the “Sub-Advised Funds”) and separately managed accounts for institutional, non-retail investors (the “SMAs”) which pursue strategies similar to the Funds. References throughout this document to “clients” refer to the Funds, SMAs, the Sub-Advised Funds, and any other private funds and SMAs

that the Firm may advise in the future. Client accounts are managed in accordance with their own investment and trading objectives, as described in their respective offering documents, investment advisory agreements and governing agreements (collectively, the “Governing Documents”). The Firm generally will not permit investors in the Funds to impose limitations on the investment activities described in the Funds’ Governing Documents. Under certain circumstances, the Firm may contract with a client to adhere to limited risk and/or operating guidelines imposed by that client. The Firm would negotiate such arrangements on a case-by- case basis. (See Item 16 - Investment Discretion.) Troluce Funds GP, LLC, one of the Firm’s related persons (the “Troluce GP”) serves as the general partner to certain Funds. The Firm does not participate in wrap fee programs. As of December 31, 2023, the Firm managed $449,380,753 of regulatory assets on a discretionary basis. The Firm does not manage any assets on a non-discretionary basis.

TROLUCE CAPITAL ADVISORS LLC

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