A. Description of Advisory Firm Athos Private Wealth, LLC (“Athos”), a Delaware Limited Liability Company, is a fee-only investment advisory firm headquartered in Holladay, Utah. Athos has been operating since July 2020 and is principally owned by Robert Shattuck. This Brochure provides information regarding the qualifications, business practices, and advisory services provided by Athos. Please note that all services listed herein are included in the asset-based wealth management fee. None of the aforementioned services, nor the detail provided below for each service will be charged as a stand-alone service. B. Description of Advisory Services Offered Athos provides investment advisory services to high-net worth individuals, families, trusts, estates, charitable organizations, and businesses (our “Clients”). Athos serves as a fiduciary to Clients, as defined under applicable laws and regulations. As a fiduciary, Athos upholds a duty of loyalty, fairness, and good faith towards each Client and seeks to mitigate potential conflicts of interest. Athos fiduciary commitment is further described in the Code of Ethics. For more information regarding the Code of Ethics, please see Item 11 – Code of Ethics, Participation or Interest in Client Transactions and Personal Trading. Athos provides investment advisory services, strategic planning and consulting services, family office consulting and/or services, and Private Fund Advisor Services to its Clients. Investment Advisory Services Athos provides custom investment advisory services for its Clients. Athos will ascertain each Client’s objectives and maintain continuous personal contact while providing and implementing investment management, planning and related advisory services. Athos typically offers these as a bundled advisory engagement, but may, in certain circumstances, offer them as individual services. Included in investment advisory services is Investment Management.
• Investment Policy. We may assist Clients in the preparation, review and evaluation of the policies, parameters, restrictions, and objectives of the accounts that we manage for them or advise upon. We may also assist Clients with the preparation of more broadly applicable investment policies.
• Asset Allocation. We assist Clients in the review and establishment of asset allocation goals for their Athos accounts. We may make discretionary changes or recommendations to change (as we deem appropriate based upon a Client’s investment policy, market conditions and/or other factors) their allocations or to bring their account holdings back into conformity with the desired allocation levels.
• Performance Evaluation. We provide Clients with a periodic evaluation report of their accounts which may include each portion manage by Athos, any sub-advisers (where applicable), and any external funds not managed by Athos. We receive our information from account custodians, broker-dealers, portfolio managers, and/or other parties. While such information is believed to be accurate and reliable, we cannot guarantee it. To the extent that erroneous information is provided to Athos by account custodians, broker-dealers, portfolio managers or other parties, we are not responsible for any inaccuracies which are contained in our evaluation reports.
• Types of Investments. We manage all types of investments on a discretionary basis and may assist Clients in selecting investments not managed by Athos. A non-exhaustive list of security and investment types includes: o Public Investments: public equities, fixed income, real estate o Private Investments: private equity, venture capital, private credit, real estate, o Alternative Investments & Strategies: trading & hedging strategies using derivatives and over-the-counter instruments, cryptocurrencies (“crypto” or “cryptocurrencies” or “digital assets”), and all other public and private alternative strategies not listed.
• Identification and Selection of Investment Opportunities. We assist Clients with identifying and selecting private external funds and other direct investment opportunities that are deemed appropriate and consistent with Clients stated objectives and current investment policies. For any investment sourced by a Client, we will review the investment merits, strategy, risk profile, and stated objectives relative to the Client’s investment policy and investment objectives. We make no representations or guarantees regarding the investments, asset allocations, and/or performance of any Portfolio Manager exclusively chosen by a Client.
• Asset Management. For many of our Clients, we directly manage the Clients’ brokerage and other investment accounts on a discretionary basis. In such circumstances, we oversee accounts that can contain, and on a discretionary basis execute transactions in, single-name equities, options, and other listed derivatives, exchange traded funds, index and other mutual funds, private funds and other alternative investments, digital assets, and other securities and assets.
• Holistic Balance Sheet Reporting. As part of the investment management process, we gather information on a Client’s complete balance sheet. This information is included in our investment management reporting, providing a complete picture of a Client’s financial life. Use of Independent Managers Athos selects certain Independent Managers to actively manage all or a portion of its Clients’ assets (Note per Item 4.E below, this will not be part of a wrap fee program). The specific terms and conditions under which a Client engages an Independent Manager may be set forth in a separate written agreement with the designated Independent Manager. In addition to this brochure, Clients may also receive the written disclosure documents of the respective Independent Managers engaged to manage their assets. The Independent Managers’ fees are paid directly by the Client and not from the management fees Athos charges its Clients. Athos Private Wealth evaluates a variety of information about Independent Managers, which includes the Independent Managers’ public disclosure documents, materials supplied by the Independent Managers themselves and other third-party analyses it believes are reputable. To the extent possible, Athos seeks to assess the Independent Managers’ investment strategies, past performance, and risk results in relation to its Clients’ individual portfolio allocations

and risk exposure. Athos also takes into consideration each Independent Manager’s management style, returns, reputation, financial strength, reporting, pricing, and research capabilities, among other factors. Athos continues to provide services relative to the discretionary or non-discretionary selection of the Independent Managers. On an ongoing basis, the Athos monitors the performance of those accounts being managed by Independent Managers. Athos seeks to ensure the Independent Managers’ strategies and target allocations remain aligned with its Clients’ investment objectives and overall best interests. No guarantees can be made that a Client’s financial goals or objectives will be achieved. Further, no guarantees of performance can be offered. Athos utilizes Parametric Portfolio Associates as one of its primary independent managers. Parametric is a leading global asset management firm providing various portfolio management services and investment strategies. Strategies include but are not limited to systematic equity portfolios, tax-managed core equity portfolios for taxable investors, and fixed-income strategies. Strategic Planning and Consulting Services Athos may also provide fundamental and complex strategic planning and/or consulting services. Athos understands that financial success requires not only managing the investments and supporting pieces of a balance sheet, but it also requires a well thought out plan. Each individual, family, and entity can face complexities that require detailed planning to meet specific objectives. We leverage our expertise and resources to provide planning that meets each objective and targets long-term financial success. We leverage our previously described process to implement a financial plan. At times, Athos may also refer Clients to an accountant, attorney, or other specialist as appropriate for their unique situation. Please note that the investment adviser, nor any affiliated person of the investment adviser, will receive commissions from the sale of insurance, real estate, or investment products recommended in the financial plan. Each Client is under no obligation to act on the investment adviser’s or associated person’s recommendation. If the Client elects to act on any of the recommendations, the Client is under no obligation to effect the transaction(s) through the investment adviser or associated person. Start-up Advising Athos was established to work with technology founders, executives, and professionals. As part of our services, we leverage our unique experience working with influential technology founders to provide guidance to start-up founders during all stages of the start-up lifecycle. We provide guidance on the initiatives and key financial decisions founders must face from a personal and business point of view, including secondary transactions, liquidity planning, cash management, term sheet review and negotiation, share governance, fundraising and wealth transfer. These services are offered to all Clients, where relevant. These advisory services can, at times, be offered in exchange for equity in the respective companies and founders being advised. Family Office Consulting and Services As wealth increases, often the complexity of managing it does as well. Individuals and families are faced with ever-growing decisions and work involved to maintain an orderly estate which can include household staff, multiple properties, charitable entities, expansive travel, and entertaining, to name a few. Athos leverages its experience managing family office relationships for public and private company founders and executives to provide family office consulting and services. These services are custom to each Client and are available as a standalone service or as an additional service for a current Client. While not exhaustive, sample family office consulting and services include: BillPay management utilizing third-party providers; household staffing structuring, efficiency, human resource management, and privacy protection; personal home and private security management; cash flow management and forecasting; small business management; real estate transaction management; construction and renovation management; private aviation analysis and coordination; travel concierge management; and, coordination with vendors. Private Fund Advisor Services Athos serves as the investment manager to private pooled investment vehicles (each a “Fund” and collectively the “Funds”). These services are detailed in the offering documents for each Fund, which include as applicable, operating agreements, private placement memorandum and/or term sheets, subscription agreements, separate disclosure documents, and all amendments thereto (“Offering Documents”). Athos manages each Fund based on the investment objectives, policies and guidelines as set forth in the respective Offering Documents and not in accordance with the individual needs or objectives of any particular investor therein. Each prospective investor interested in investing in a Fund is required to complete a subscription agreement in which the prospective investor attests as to whether or not such prospective investor meets the qualifications to invest in the Fund and further acknowledges and accepts the various risk factors associated with such an investment. The Funds involve a broad range of investments including venture capital, private equity, and digital asset focused, among other areas. In general, investors in the Funds are not permitted to impose restrictions or limitations. However, Athos may enter into side letter agreements with one or more investors that may alter, modify, or change the terms of interest held by investors. Certain types of side letters create a conflict of interest between the Advisor and the investors in the Fund, and/or between investors themselves. For more detailed information on investment objectives, policies and guidelines, please refer to the respective Fund’s Offering Documents. C. Tailoring of Advisory Services and Client Imposed Restrictions Athos seeks to tailor and offer individualized advice to our Clients as described above. Each Client may, at any time, impose reasonable restrictions, in writing, on Athos services. D. Regulatory Assets Under Management As of January 31, 2024, Athos had $139,071,254 in discretionary assets under management and $44,615 in nondiscretionary assets under management. E. Wrap Fee Programs Athos does not participate in any wrap fee programs.