Hunter Associates Investment Management, LLC (DBA: "Hunter Associates") is a SEC registered investment adviser with its principal place of business located in Pennsylvania and incorporated in the state of Delaware. Hunter Associates began conducting business in 1992. Listed below are the firm's principal owners (i.e., those individuals and/or entities controlling 25% or more of this company).
• Hunter Associates Holdings, LLC Hunter Associates offers the following advisory services to our clients: PORTFOLIO MANAGEMENT PROCESS Our firm provides continuous advice to a client regarding the investment of client funds based on the individual needs of the client. Through personal discussions in which goals and objectives based on a client's particular circumstances are established, we develop a written investment policy statement. We implement a portfolio based on that investment policy statement. During our data gathering process, we determine the client’s individual objectives, time horizons, risk tolerance, and liquidity needs. As appropriate, we also review and discuss a client's prior investment history, as well as family composition and background. We manage these advisory accounts on a discretionary and non-discretionary basis. Account supervision is guided by the client's stated objectives (i.e., long term growth, income, growth and income or short-term growth), risk profile, as well as tax considerations. Clients may impose reasonable restrictions on investing in certain securities, types of securities, or industry sectors. Our investment recommendations are not limited to any specific product or service offered by a broker dealer or insurance company and will generally include advice regarding the following investment types:
• Exchange listed securities
• Securities traded over the counter
• Corporate debt securities (other than commercial paper)
• Certificates of deposit
• Municipal securities
• Variable life insurance
• Variable/Fixed annuities
• Mutual fund shares
• United States governmental securities
• Options contracts on securities Because some types of investments involve certain additional degrees of risk, they will only be implemented/recommended when consistent with the client's stated investment objectives, tolerance for risk, liquidity, and suitability. INDIVIDUAL PORTFOLIO MANAGEMENT We offer a customizable solution to manage client portfolios. The “Individual Portfolio Management” solution provides the client with the broadest selection of investment solutions provided at the discretion of the Adviser. Fees for this solution are non-wrapped, separately charging the client for advisory services, brokerage services, and administrative services. WRAP FEE PROGRAM We sponsor "Hunter Portfolio Series" a wrap fee program. A wrap fee program is a means of consolidating and managing an investor’s portfolio. The wrap fee services are offered for a comprehensive charge by an investment advisor to a client for providing a bundle of services. Such services include investment advice, investment research and brokerage services. This fee covers all of the administrative and management expenses for the account. The wrap fee program is offered and described in the Part 2A of Form ADV Appendix 1 ("Wrap Account Brochure"). As of January 1, 2023, we are not offering the wrap program to any new investors but will continue to offer the program to investors that were participants in the program as of that date. You may obtain a copy of our firm brochure by contacting us at 412-471-4191 or by email to [email protected]. If a client has chosen to participate in this program, they will receive separate disclosures. MANAGER OF MANAGERS PROGRAM Hunter Associates offers discretionary advisory management services to clients through our Manager of Managers Program. Our objective when selecting an outside manager is to provide additional investment exposure to supplement our investment management services. Hunter Associates performs management searches of various registered investment advisers. Based on the client's individual circumstances and needs (as exhibited in the client's investment policy statement), we determine which selected registered investment adviser's ("selected asset

manager") portfolio management style is appropriate for that client. Factors considered in making this determination include account size, risk tolerance, the opinion of each client and the investment philosophy of the selected asset manager. Clients should refer to the selected asset manager's Form ADV Part 2A or equivalent disclosure document for a full description of the services offered by the selected asset manager. Client meetings are available on a regular basis, or as determined by the client, to review the account. Once we identify and select an appropriate asset manager, our firm negotiates the manager fee for the advisory management services and provides the selected asset manager a portion of the client's portfolio based on that investment policy statement. Clients may have more than one selected asset manager. On an ongoing basis, we monitor the performance of the selected asset manager(s). If we determine that a particular selected asset manager is not providing sufficient management services to the client or is not managing the client's portfolio in a manner consistent with that client's investment policy statement, then we may move the client’s portfolio to a different selected asset manager. Under this scenario, our firm retains the discretion to hire and fire the selected asset manager and/or move the client’s portfolio to a different selected asset manager. At least annually, we meet with the client to review and update, as necessary, the client's investment policy statement. However, should there be any material change in the client's personal and/or financial situation, we should be notified immediately to determine whether any review and/or revision of the client's Investment Policy Statement is warranted. FINANCIAL PLANNING We generally provide some level of financial planning advice as a value-added service to the individual portfolio advisory client. Financial planning is a comprehensive evaluation of a client’s current and future financial state by using currently known variables to predict future cash flows, asset values and withdrawal plans. Through the financial planning process, all questions, information, and analysis are considered as they impact and are impacted by the entire financial and life situation of the client. Clients utilizing this service receive a written report which provides the client with a detailed financial plan designed to assist the client achieve his or her financial goals and objectives. The report is a point-in-time financial plan. Hunter Associates is not responsible for implementing, monitoring, and updating the Financial Planning recommendation(s) unless specifically included in the scope of engagement. We gather required information through in depth personal interviews. Information gathered includes the client's current financial status, tax status, investments, insurance, future goals, objectives, and attitudes towards risk. We may also assist the client by requesting information to assess and develop long term strategies, including as appropriate, trusts, wills, estate tax, powers of attorney, asset protection plans, nursing homes and elder care. We carefully review the information supplied by the client and prepare a written report. Should the client choose to implement the recommendations contained in the plan, we suggest the client work closely with his/her attorney, accountant, insurance agent, and other pertinent professionals. Implementation of financial plan recommendations is entirely at the client's discretion. CONSULTING SERVICES Clients can also receive investment advice on a more focused basis. This may include advice on only an isolated area(s) of concern such as estate planning, retirement planning, or any other specific topic. We also provide specific consultation and administrative services regarding investment and financial concerns of the client. PRIVATE FUND Hunter Associates Investment Management, LLC is the sponsor of Hunter Private Capital, LLC, the manager of the private fund. The offering documents of the private fund discloses the terms and conditions of the private fund, including the associated fund fees and expenses. AMOUNT OF MANAGED ASSETS As of 12/31/2023, we were actively managing $1,008,764,379 of client’s assets on a discretionary basis plus $3,778,333 of client’s assets on a non-discretionary basis.