9AT: BROADMARK ASSET MANAGEMENT LLC

BROADMARK ASSET MANAGEMENT LLC

BROADMARK ASSET MANAGEMENT LLC

Adviser Profile

As of Date	03/31/2026
Registration	SEC, Approved, 09/07/2000
ADV Location	DALLAS, TX, United States
Contact Info	214 xxxxxxx
Websites

AUM^*	238,352,315 -23%
of that, discretionary	238,352,315 -23%
Number of Employees	3 -40%
of those in investment advisory functions	3 -25%
Private Fund GAV^*	0
Avg Account Size	59,588,079 -43%
SMA’s	Yes
Private Funds	0

Adviser Type

- An investment adviser (or subadviser) to an investment company

Client Types

- Investment companies
- Corporations or other businesses not listed above

Advisory Activities

- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies
- Portfolio management for businesses

Compensation Arrangments

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

Reported AUM

956M 820M 683M 546M 410M 273M 137M

2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

Discretionary

Non-discretionary

Private Funds

No private funds

Employees

Top Holdings

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker46137V357	Stock NameINVESCO EXCHANGE TRADED FD T	$ Position$80,439,181	% Position100.00%	$ Change33.00%	# Change20.00%

Brochure Summary

Overview

ADVISORY BUSINESS Broadmark Asset Management LLC (“Broadmark” or the “Firm”) is an investment adviser with its principal place of business in San Francisco, California. Broadmark commenced operations as an investment adviser on July 30, 1999 and has been registered with the SEC since September 7, 2000. Broadmark’s majority owner is Westwood Holdings Group, Inc, a Delaware corporation. Broadmark provides advisory services on a discretionary basis to clients, which include individuals and institutions with separately managed accounts, registered investment companies, and other investment advisers. Broadmark’s top-down, directional investment strategy seeks to address stock market risk and to capitalize on persistent, recurring market inefficiency, in part by managing the ongoing net exposure to the broad equity market at a substantially reduced level of volatility. Broadmark provides advice to clients based on specific investment objectives and strategies. Under certain circumstances, Broadmark may agree to tailor advisory services to the individual needs of clients. An example of tailored advisory services Broadmark is currently providing include a customized long/short strategy to sophisticated

investors and institutional investors. Under certain circumstances, clients may impose restrictions on investing in certain securities or certain types of securities. Broadmark also provides investment advisory services as a sub-adviser on a non-discretionary basis in connection with a number of Separately Managed Account (“SMA”)/Unified Managed Account (“UMA”) platforms sponsored by broker-dealers and other financial institutions (“SMA/UMA Sponsors”) not affiliated with Broadmark. There are several differences between how Broadmark manages SMA/UMA platform accounts and other client accounts. For example, as sub-adviser Broadmark provides investment direction to its affiliate, Westwood Management Corp. (“Westwood”). Westwood acts as adviser to SMA/UMA accounts and Westwood, not Broadmark, is responsible for the trade execution and for account administration of these SMA/UMA accounts. As of December 31, 2023, Broadmark had approximately $311,052,815 of client assets under management. As of that date, Broadmark managed approximately $311,052,815 on a discretionary basis. As of December 31, 2023, Broadmark had approximately $624,405,944 of client assets under advisement.