9AT: CONTEXT CAPITAL MANAGEMENT LLC

other names

CONTEXT CAPITAL MANAGEMENT LLC
CONTEXT / TQA ADVISERS

Adviser Profile

As of Date	03/30/2026
Registration	SEC, Approved, 08/26/2005
ADV Location	LA JOLLA, CA, United States
Contact Info	858 xxxxxxx
Websites

AUM^*	8,008,157,694 210%
of that, discretionary	8,008,157,694 210%
Private Fund GAV^*	4,011,840,340 49%
Avg Account Size	2,669,385,898 210%
SMA’s	Yes
Private Funds	3

Adviser Type

- Large advisory firm

Number of Employees 19 58%

of those in investment advisory functions 8 33%

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

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

SEC Fund Type	Count	GAV
Fund TypeHedge Fund	Count3	GAV$4,011,840,340

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 FCO ADVISORS LP	Hedge Fund268.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV268.2m	AUM1.3b	#Funds3
Adviser PATIENT CAPITAL MANAGEMENT, LLC	Hedge Fund207.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV207.2m	AUM2.5b	#Funds1
Adviser CLEAR SKY ADVISERS, LLC	Hedge Fund466.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV466.6m	AUM466.6m	#Funds10
Adviser AQUATIC CAPITAL MANAGEMENT LLC	Hedge Fund7.2b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV7.2b	AUM5.4b	#Funds4
Adviser DARK FOREST CAPITAL MANAGEMENT LP	Hedge Fund2.4b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV2.4b	AUM2.4b	#Funds3
Adviser POLITAN CAPITAL MANAGEMENT	Hedge Fund855.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV855.7m	AUM855.7m	#Funds3
Adviser PUNCH & ASSOCIATES INVESTMENT MANAGEMENT, INC.	Hedge Fund386.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV386.5m	AUM2.0b	#Funds2
Adviser CHILTON INVESTMENT COMPANY, INC.	Hedge Fund275.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV275.5m	AUM1.3b	#Funds5
Adviser GABELLI & COMPANY INVESTMENT ADVISERS, INC.	Hedge Fund770.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV770.5m	AUM1.5b	#Funds10
Adviser NORTHWEST INVESTMENT MANAGEMENT (HONG KONG) LIMITED	Hedge Fund1.4b	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV1.4b	AUM1.5b	#Funds3

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker594972AS0	Stock NameSTRATEGY INC	$ Position$187,546,898	% Position5.00%	$ Change	# Change
Stck Ticker278768AB2	Stock NameECHOSTAR CORP	$ Position$159,905,925	% Position4.00%	$ Change-38.00%	# Change-54.00%
Stck Ticker207410AH4	Stock NameCONMED CORP	$ Position$114,651,840	% Position3.00%	$ Change10.00%	# Change109619.00%
Stck Ticker87918AAF2	Stock NameTELADOC HEALTH INC	$ Position$111,844,825	% Position3.00%	$ Change-6.00%	# Change92033.00%
Stck Ticker70614WAD2	Stock NamePELOTON INTERACTIVE INC	$ Position$134,960,780	% Position3.00%	$ Change-22.00%	# Change104428.00%
Stck Ticker565788AH9	Stock NameMARA HOLDINGS INC	$ Position$120,528,000	% Position3.00%	$ Change	# Change
Stck Ticker695127AJ9	Stock NamePACIRA BIOSCIENCES INC	$ Position$69,365,049	% Position2.00%	$ Change-10.00%	# Change90876.00%
Stck Ticker45258DAB1	Stock NameIMMUNOCORE HLDGS PLC	$ Position$65,012,884	% Position2.00%	$ Change2.00%	# Change102042.00%
Stck Ticker399473AK3	Stock NameGROUPON INC	$ Position$61,665,570	% Position2.00%	$ Change-9.00%	# Change94790.00%
Stck Ticker70932AAH6	Stock NamePENNYMAC CORP	$ Position$78,552,511	% Position2.00%	$ Change378.00%	# Change464603.00%

Brochure Summary

Overview

Context Capital Management, LLC (“CCM” or the “Firm”) serves as the Investment Advisor and CCM GP LLC (“CCM GP”) serves as the General Partner to Context Partners Master Fund, L.P. and its two feeder funds Context Partners Fund, L.P and Context Partners Oﬀshore Ltd. (collec-vely “The Funds” or the “Partnership”). The investment objec-ves are detailed in the Conﬁden-al Oﬀering Circular of Context Partners Fund L.P. and the Private Oﬀering Memorandum of Context Partners Oﬀshore Ltd. (collec-vely “Fund documents”). At present, Context Capital Management, LLC does not oﬀer advisory services to separately managed accounts but may choose to do so in the future. CCM was formed as a Delaware limited liability company in 2001 and has been registered as an investment adviser with the SEC since 2005. CCM GP was formed as a Delaware limited liability company in 2023. CCM specializes in ﬁxed income and rela-ve-value strategies including conver-ble arbitrage, fundamental credit and event-driven situa-ons. CCM invests in securi-es consis-ng principally of conver-ble debt instruments, conver-ble preferred stock, equi-es and other equity-linked securi-es. The instruments that CCM invests in include senior and subordinated debt, notes,

op-ons, warrants, rights, bank debt, private claims, futures and other commodity interests, other deriva-ves, special purpose acquisi-on corpora-ons (SPACs) and other equity or ﬁxed-income securi-es sold in U.S. and non-U.S. public markets and private placements. CCM is authorized, however, to enter into any type of investment transac-on that it deems appropriate under the terms of the Fund documents. As of February 29, 2024, CCM managed approximately $ 1,326,331,895.40 in assets, all on a discre-onary basis. Michael S. Rosen is CCM’s Co-Founder and Chief Execu-ve Oﬃcer, William D. Fer-g is CCM’s Co- Founder and CRO, and Charles E. Carnegie is CCM’s CIO and PM. Mr. Rosen, Mr. Fer-g and Mr. Carnegie are the Managing Members of CCM and compromise the Investment and Risk CommiDee. They and various trusts of their immediate family members are the owners of CCM. CCM selects all Fund investments and strategies. CCM typically does not tailor its services to the needs of individual investors, but instead manages the Funds in accordance with CCM’s discre-onary authority. In these cases, however, it is limited as described in Item 16. CCM does not sponsor or manage any wrap fee programs or oﬀer any other advisory services.

CONTEXT CAPITAL MANAGEMENT LLC

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