9AT: COOK & BYNUM CAPITAL MANAGEMENT, LLC

other names

COOK & BYNUM CAPITAL MANAGEMENT, LLC
COOK & BYNUM

Adviser Profile

As of Date	03/21/2025
ADV Location	BIRMINGHAM, AL, United States
Adviser Type - Large advisory firm - An investment adviser (or subadviser) to an investment company
Number of Employees	7 -13%
of those in investment advisory functions	4
Registration	SEC, Approved, 02/05/2009

AUM^*	322,218,542 9%
of that, discretionary	322,218,542 9%
Private Fund GAV^*	256,912,696 -7%
Avg Account Size	64,443,708 97%
% High Net Worth	20.00% 80%
SMA’s	Yes
Private Funds	3
Contact Info	205 xxxxxxx
Websites

Client Types

- High net worth individuals
- Investment companies
- Pooled investment vehicles

Advisory Activities

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

Compensation Arrangments

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

Fund Type	Count	GAV
Fund TypeHedge Fund	Count3	GAV$256,912,696

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 O'NEIL GLOBAL ADVISORS, INC.	Hedge Fund31.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV31.8m	AUM367.7m	#Funds2
Adviser TAYLOR HOFFMAN WEALTH MANAGEMENT, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM304.3m	#Funds-
Adviser ENHANCING CAPITAL LLC	Hedge Fund18.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV18.7m	AUM342.0m	#Funds1
Adviser VALUEWORKS, LLC	Hedge Fund293.3m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV293.3m	AUM429.4m	#Funds3
Adviser FOREST HILL CAPITAL, LLC	Hedge Fund66.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV66.5m	AUM146.7m	#Funds1
Adviser BREAKOUT CAPITAL PARTNERS	Hedge Fund930.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV930.6m	AUM610.8m	#Funds3
Adviser SIENA CAPITAL PARTNERS GP, LLC	Hedge Fund368.2m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV368.2m	AUM368.2m	#Funds1
Adviser LIZARD INVESTORS LLC	Hedge Fund20.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV20.6m	AUM223.1m	#Funds2
Adviser RESOLUTE GLOBAL PARTNERS, LTD.	Hedge Fund315.4m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV315.4m	AUM315.4m	#Funds1
Adviser EMPIRICAL ASSET MANAGEMENT, LLC	Hedge Fund524.0k	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV524.0k	AUM467.0m	#Funds1

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker084670702	Stock NameBerkshire Hathaway Inc.	$ Position$57,504,909	% Position46.00%	$ Change3.00%	# Change0.00%
Stck Ticker03524A108	Stock NameAnheuser Busch Inbev	$ Position$24,077,314	% Position19.00%	$ Change-13.00%	# Change0.00%
Stck Ticker344419106	Stock NameFomento Economico Mexicano S.A.B. de C.V. ADR	$ Position$23,024,680	% Position18.00%	$ Change-3.00%	# Change0.00%
Stck TickerG9001E128	Stock NameLiberty Latin America LTD - CL C	$ Position$14,670,265	% Position12.00%	$ Change0.00%	# Change-26.00%
Stck TickerG9001E102	Stock NameLiberty Latin America LTD - CL A	$ Position$2,887,946	% Position2.00%	$ Change36.00%	# Change0.00%
Stck Ticker02319V103	Stock NameAmbev SA	$ Position$3,019,440	% Position2.00%	$ Change16.00%	# Change26.00%

Brochure Summary

Overview

Cook & Bynum Capital Management, LLC (“CBCM”) is an SEC registered investment adviser that was founded in August 2001 by Richard P. Cook and J. Dowe Bynum. CBCM has been registered as an investment adviser under the Advisers Act with the SEC since February 2009. CBCM is responsible for the management of Cook & Bynum Capital, LLC, Cook & Bynum Capital QP, LLC, and Cook & Bynum Emerging Markets Ex China, LP (individually, each an “Unregistered Fund” and collectively, the “Unregistered Funds”). For the Unregistered Funds, membership and partnership interests are sold to investors, each of which becomes a member or partner in the relevant Unregistered Fund. CBCM is the managing member or general partner of the Unregistered Funds, with broad authority to manage the affairs of such funds. CBCM also serves as the investment adviser for each of the series (individually, each a “Registered Fund”, and together with the Unregistered Funds, the “CBCM Funds” or individually, each a “CBCM Fund”) of Cook & Bynum Funds Trust, a Delaware statutory trust (the “Trust”). Currently, The Cook & Bynum Fund (the “CB Fund”) is the sole series of Cook & Bynum Funds

Trust and therefore is CBCM’s only Registered Fund. In addition, CBCM may provide advisory services under “Investment Management Accounts” pursuant to which CBCM enters into an agreement with the owner of an account that gives CBCM the authority to manage the investments of the account (each, a “Separate Account”). For purposes of this Form ADV Part 2A, the term “Clients” will refer to the accounts of any individual or entity that CBCM has agreed to manage for investment purposes. CBCM’s “Clients” currently consist of Cook & Bynum Capital, LLC, Cook & Bynum Capital QP, LLC, Cook & Bynum Emerging Markets Ex China, LP, Cook & Bynum Funds Trust, and one or more Separate Accounts. Each of the investors in any of an Unregistered Fund or a Registered Fund is referred to as an “Investor.” The term “Clients” does not include “Investors.” Although the Advisers Act uses the term “client” in multiple contexts, this Form ADV Part 2A distinguishes between CBCM’s Clients (the CBCM Funds and any Separate Account) and Investors in any of the Unregistered Funds or the Registered Fund. As of December 31, 2023, CBCM managed approximately $353 million on behalf of its Clients, all on a discretionary basis.

COOK & BYNUM CAPITAL MANAGEMENT, LLC

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