9AT: CANNELL & SPEARS LLC

other names

CANNELL & SPEARS LLC
SPEARS ABACUS ADVISORS LLC
WG SPEARS LLC

Adviser Profile

As of Date	03/30/2026
ADV Location	NEW YORK, NY, United States
Adviser Type - Large advisory firm
Number of Employees	40 -2%
of those in investment advisory functions	17 -11%
Registration	SEC, Approved, 01/03/2007

AUM^*	6,992,200,000 19%
of that, discretionary	6,801,800,000 17%
Private Fund GAV^*	12,200,000 19%
Avg Account Size	2,713,310 8%
% High Net Worth	75.99% 7%
SMA’s	Yes
Private Funds	2
Contact Info	212 xxxxxxx
Websites

Client Types

- Individuals (other than high net worth individuals)
- High net worth individuals
- Investment companies
- Pooled investment vehicles
- Pension and profit sharing plans
- Charitable organizations
- Corporations or other businesses not listed above

Advisory Activities

- Financial planning services
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses
- Selection of other advisers

Compensation Arrangments

- A percentage of assets under your management
- Fixed fees (other than subscription fees)
- Performance-based fees

Accounting Firm Name	Filing Date	Form ADV-E
Accounting Firm Name TRACHTENBERG & PAUKER, LLP	Filing Date01/27/2026	Form ADV-E View Report
Accounting Firm Name TRACHTENBERG & PAUKER, LLP	Filing Date08/11/2025	Form ADV-E View Report
Accounting Firm Name TRACHTENBERG & PAUKER, LLP	Filing Date03/13/2025	Form ADV-E View Report
Accounting Firm Name TRACHTENBERG & PAUKER, LLP	Filing Date05/23/2023	Form ADV-E View Report

Fund Type	Count	GAV
Fund TypeOther Private Fund	Count2	GAV$12,200,000

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 M CAPITAL ADVISORS	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM870.5m	#Funds-
Adviser ARGYLE CAPITAL MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM355.7m	#Funds-
Adviser ALAN B. LANCZ & ASSOCIATES, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund4.7m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV4.7m	AUM175.4m	#Funds2
Adviser TAGSTONE CAPITAL, INC.	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM368.9m	#Funds-
Adviser LIDO	Hedge Fund418.2m	Liquidity Fund-	Private Equity Fund109.9m	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund12.1m	Other Fund143.7m	Total Private Fund GAV696.1m	AUM42.5b	#Funds30
Adviser JAY A. FISHMAN, LTD	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM1.3b	#Funds-
Adviser CHILDRESS CAPITAL ADVISORS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM1.2b	#Funds1
Adviser ANTARES WEALTH	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM201.5m	#Funds-
Adviser COHEN CAPITAL MANAGEMENT INC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM1.0b	#Funds-
Adviser PEREGRINE INVESTMENT ADVISORS, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM368.4m	#Funds-

Brochure Summary

Overview

Firm Description Cannell & Spears is a combination of two longstanding registered investment advisors, Cannell & Co. and Spears Abacus Advisors LLC. The combination went into effect on January 1, 2024. Cannell & Co. commenced operations in 1973, and Spears Abacus Advisors LLC commenced operations in 2007. Cannell & Spears was organized as a limited liability company under the laws of the State of Delaware in 2006 and has offices in New York, New York and Jupiter, Florida. Cannell & Spears is registered as an investment advisor with the United States Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Cannell & Spears is not a broker-dealer, nor does it engage in investment banking. Cannell & Spears is a value investor that takes a long-term perspective to purchasing and selling equity and fixed-income securities. Instead of market timing, Cannell & Spears relies primarily on its own research and on careful investment selection. Ownership of Cannell & Spears Cannell & Spears is principally owned by its managers and principals, none of whom individually owns twenty-five percent or more of Cannell & Spears. Types of Advisory Services Cannell & Spears services include the management of equity and fixed-income portfolios, as well as other specialty investment

portfolios. Cannell & Spears also manages The BeeHive Fund, which is a separate series of Forum Funds, an open-ended investment company registered under the Investment Company Act of 1940. Cannell & Spears generally manages the assets of its clients on a fully discretionary basis and sometimes reviews asset allocation for clients for whom it does not provide portfolio management. In addition, Cannell & Spears offers financial-planning services and advice about retirement-plan rollovers. Tailored Relationships Cannell & Spears tailors its investment advice to the particular needs, investment objectives, and investment guidelines of each client. Cannell & Spears meets with each client or his financial advisor to gain an in-depth understanding of the financial circumstances and objectives of the client. Selection of securities, asset allocations, purchase guidelines, and tax sensitivity are driven by this deep understanding. Clients may impose restrictions on investing in particular securities or types of securities. Assets Under Management As of January 1, 2024, Cannell & Spears managed approximately $5,802,100,000 of client assets on a discretionary basis and approximately $54,400,000 of client assets on a non-discretionary basis. Its total assets under management as of that date was approximately $5,856,500,000.

CANNELL & SPEARS LLC

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