Firm Description Moody Aldrich Partners, LLC (MAP) is a privately held multi-boutique investment firm with businesses specializing in investment strategies for institutions and individual investors. Formed in 1988, MAP is an SEC registered investment advisor that has provided investment strategies to sophisticated clients for 30 years. The firm offers US and international equity strategies through investment divisions managed by teams of experienced, successful investors. Over time, the firm has evolved from a traditional asset manager to a multi-boutique company with shared non-investment business services. Identifying and cultivating investment talent and developing strategic partnerships and business ventures is a hallmark of the firm’s heritage. Owners of MAP provide a permanent source of capital that has been used for working capital and seed capital to numerous investment strategies. The structure of the firm’s entrepreneurial activities has taken various forms, such as lift-outs, acquisitions, joint ventures and seeding/acceleration deals. While each opportunity has its own unique attributes, every endeavor pursued creates shared incentives and alignment of interests behind a common vision of building a premier investment organization. The firm’s entrepreneurial culture emphasizes teamwork and flexibility and a strong commitment to the highest ethical standards. Today, MAP has interests in the following affiliated boutiques:
• Eastern Shore Capital Management (“ESCM”): Established in 2012 as a division of MAP, ESCM is an investment boutique specializing in managing long-only US small and smid-cap strategies on behalf of institutions and individual investors.
• Global Value Advisors (“GVA”): Established in 2018 as a division of MAP, GVA is an investment boutique specializing in managing long-only global and international value strategies on behalf of institutions and individual investors.
• Harvest Funds Management, LLC (“HFM”) is a subsidiary of MAP and serves as the General Partner to private funds which have made strategic investments in independent alternative investment boutiques. Principal Owners MAP is 52.5% owned by active members, William Moody (23.75), Eli Kent (23.75%), Richard Bonzagni (5%) and 47.5% by passive member, Eyk Van Otterloo. MAP is 100% controlled by its Board of Directors, Eli Kent and William Moody. Additionally, MAP has established Class B and C ownership shares to provide certain members economic interests without governance rights. The Eastern Shore division is 74% owned by active partners including, Robert Barringer, James O’Brien, Sarah Westwood, William Moody, Eli Kent and Rich Bonzagni. The remaining 26% is held by Eyk Van Otterloo, a passive owner of MAP. The Global Value Advisors division is 71% owned by active partners, including Philippe Rolland, Matthew Marotta, Todd Bassion, William Moody, and Eli Kent. The remaining 29% is held by Eyk Van Otterloo, a passive owner of MAP. Types of Advisory Services MAP directly and through its ESCM and GVA divisions, provides discretionary and non- discretionary investment advisory services to high-net-worth individuals and institutional investors through separately managed accounts. MAP, through its ESCM division, is also the investment adviser to a collective investment trust (“CIT”), the Eastern Shore U.S. Small Cap CIT (the “ESCM CIT”). The ESCM CIT is invested according to the Eastern Shore Capital Management Small Cap Equity strategy offered by MAP. MAP, through its ESCM division, also offers investment advisory services as a sub-adviser to a mutual fund. Institutional Account Management MAP also offers investment advisory services in the form of discretionary portfolio management to institutional investors through advisory arrangements (“Institutional Account Management”) directly and through its GVA and ESCM divisions. Frequently, institutional investors are advised by investment consultants. Each institutional investor has the opportunity to select, typically in consultation with its investment consultant, one or more of MAP’s investment strategies. Separately Managed Accounts (SMA) SMA Advisory and SMA Sub-Advisory MAP provides investment advisory services in the form of discretionary portfolio management to certain clients, either directly (“SMA Advisory” clients) or through sub-advisory arrangements on behalf of clients (“SMA Sub-Advisory” clients). Each SMA Advisory or SMA Sub-Advisory client has the opportunity to select, typically in consultation with his/her/its investment consultant or financial adviser, one or more of MAP’s investment strategies or products. For separately managed accounts, MAP offers small cap, small/mid cap, international, emerging markets, global and various sector focused strategies through its Portfolio Services Group (“PSG”). SMA Advisory and SMA Sub-Advisory accounts are managed in accordance with each strategy’s investment guidelines. SMA Advisory and SMA Sub-Advisory clients may also impose reasonable restrictions on the management of their accounts. Sub-Advisory Relationship MAP has a sub-advisory agreement established with an unaffiliated registered investment advisor to provide portfolio management services for certain PSG equity strategies. MAP collects a management fee from the SMA Advisory clients invested in the sub-advised strategies and pays the sub-advisor a portion of the fee in consideration for providing services. Wrap Programs MAP provides investment sub-advisory services in the form of discretionary portfolio management to separately managed account programs sponsored by various broker-dealers or registered investment advisers (each, the “Sponsor”) in “single contract” wrap fee programs under which an all-inclusive (or “wrap”) fee is paid by the client to the Sponsor and the Sponsor in turn pays MAP a portion of the fee collected from the wrap fee client (“Wrap Programs”). Under MAP’s Wrap Program services, clients are provided access to MAP’s strategies and MAP will generally execute trades on the client’s behalf through the Sponsor. There are instances, however, where executing trades away from the Sponsor are more advantageous to the Wrap Program client. In these instances, the Wrap Program

client will pay commissions and other charges for trade execution purposes. See Item 12 – Brokerage Practices for additional details. Custody, tax reporting, client reporting, trading commissions, performance monitoring and other services are typically provided by each Sponsor. MAP may also contract directly with a Sponsor’s client in a “dual contract” program and with the Sponsor in a single contract program. In both the dual contract and single contract Wrap Programs in which MAP participates, the Sponsor typically:
• assists the client in defining the client’s investment objectives based on information provided by the client and provides the client with the opportunity to impose reasonable restrictions on management of the account;
• determines whether the fee arrangement is suitable for the client;
• aids in the selection of an investment adviser to manage the account (or a portion of its assets);
• periodically contacts the client to ascertain whether there have been any changes in the client’s financial circumstances or objectives that warrant a change in the arrangement or the manner in which the client’s assets are managed, whether the client wishes to impose reasonable restrictions (or additional reasonable restrictions) on the management of the account or reasonably modify existing restrictions; and
• ensures that personnel who are knowledgeable about the account are reasonably available to the client for consultation. Wrap Program clients generally receive all MAP disclosure documents (including Form ADV Parts 2A and 3), as well as any required prospectuses, from their respective Sponsor. Unified Management Accounts (UMAs) MAP, through its ESCM division, provides recommendations, typically in the form of a “model portfolio” to a number of unified managed account (“UMA”) program sponsors (the “UMA Program Sponsors”). For these accounts, MAP does not have discretion and does not include the performance of these MAP UMA relationships in its various investment composites. Trades recommended by MAP may or may not be executed by each UMA Program Sponsor, and MAP’s recommendations may or may not be implemented by each UMA Program Sponsor in all of the sponsor’s client portfolios. MAP is not responsible for either trade execution or reconciliation of these accounts. Private Funds / Limited Partnership Management Moody Aldrich Partners, LLC, a Delaware limited liability company (the “General Partner”), through its Global Value Advisors division, is the general partner of the Global Value Advisors Fund LP (“Limited Partnership”), a Delaware series limited partnership, and is responsible for its overall management. The General Partner is responsible for the management of each Series’ portfolio. For more details see the Fees and Compensation, Methods of Analysis, Investment Strategies and Risk of Loss and Other Financial Industry Activities and Affiliations sections. MAP, through its GVA division, also serves as the investment adviser to the Limited Partnerships which are commingled funds. These funds are described below and collectively referred to within this Brochure as “the GVA Private Funds”: (“Global Value Advisors Fund LP – Emerging Markets Equity Series; Global Value Advisors Fund LP – Global Equity Series; Global Value Advisors Fund LP – International Small Cap Series). MAP may advise other registered investment companies or private funds in the future (the “Partnerships”). MAP, through its GVA division, continuously manages the assets of the Limited Partnerships based on the investment goals and objectives as outlined in the Partnerships’ private placement memorandums, respectively. The individual needs of the investors in the Limited Partnerships are not the basis of investment decisions made by the investment advisor. Investment advice is provided directly to the Limited Partnerships and not to the individual investors holding shares of the funds. ANY REFERENCE TO THE PARTNERSHIPS WITHIN THIS BROCHURE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE SOLICITATION OF AN OFFER TO BUY INTERESTS IN THE PRIVATE FUNDS. Please see the Type of Clients section of this brochure for more information on the types of clients serviced. MAP provides investment advisory services primarily through the purchase and sale of equity securities. Tailored Relationships MAP strategies will, at the firm’s discretion, accommodate client directed restrictions that could cause the client’s portfolio to deviate from a model portfolio. Such portfolio restrictions may include:
• specific stock restrictions;
• tax generation restrictions (such as no Real Estate Investment Trusts);
• sector restrictions; or,
• country specific restrictions. All restrictions must be submitted in writing and are subject to approval by MAP, ESCM and/or GVA. Institutional clients may additionally provide more comprehensive investment policy statements and portfolio structure guidelines. These guidelines may include cash and position minimum or maximum weights, portfolio concentration, reporting or meeting requirements and proxy voting instructions. Privacy and Security For privacy safeguards and security purposes, MAP has established a Privacy Notice, which is sent to all new clients at the time of account opening. Any material changes to MAP’s Privacy Notice will be distributed to existing clients promptly and is available upon request by contacting us any time as described in Item 1. When applicable, a separate supplemental Privacy Notice is distributed to Clients residing in certain states that have enacted additional privacy disclosure obligations. In addition, the Firm has in place a Business Continuity Plan to protect the firm and its clients in the event of a significant business disruption. To cover all aspects of the firm’s use of technology, a Written Information Security Plan is in place which includes a detailed cybersecurity plan. Client Assets As of December 31, 2022, the firm managed or advised $832.6 million for clients, with $683.1 million in discretionary assets under management, and $149.5 million in advisory-only Unified Managed Account (“UMA”) business. Advisory-only UMA assets are those for which MAP provides a model portfolio to the program sponsor.