General Description: Peter Rup is the Managing Member, Chief Executive Officer, Chief Investment Officer and majority owner of Artemis Wealth Advisors, LLC (formed in 2009) (“Artemis”), Mr. Rup (65%), Mr. J. David Duebendorfer (25%) and The Estate of Michael George Farmar (10%) are the owners of Artemis. Mr. Duebendorfer serves as the President, Chief Operating Officer and Chief Compliance Officer for Artemis and the Farmar estate is a passive owner only. Mr. Rup (75%) and Mr. Duebendorfer (25%) are the owners and officers of Orion Capital Management II LLC (formed in 2016) (“Orion”) and Sirius II GP LLC (“Sirius”). Orion is a relying adviser to Artemis. Moreover, Artemis FP LLC (“Artemis FP”) (formed in 2020) is a relying adviser to Artemis and is owned by Ronald Zdrojeski (49%) and Epsilon Alpha Partners, LLC (51%) (“Epsilon”). Mr. Rup and Mr. Duebendorfer are the equal owners of Epsilon. Mr. Zdrojeski is also a full-time employee of Artemis. Collectively the above entities were formed under the laws of Delaware and will be referred to herein as the “Firm”). Artemis is a registered investment adviser offering discretionary and non-discretionary advisory services to managed accounts utilizing a variety of securities such as exchange-traded funds (ETF’s) and individual equity securities, that may also include the use of third-party portfolio managers that invest in both traditional and alternative assets (“Underlying Manager”). Artemis is a wealth management firm providing investment management services to high net worth and ultra- high net worth families, foundations, pooled investment vehicles, and other clients. Artemis provides a variety of services to its clients including asset allocation, manager selection and monitoring and performance reporting. The services of Artemis FP involve primarily discretionary management services to separate accounts that are Qualified Clients, as defined under SEC Rule 205-3 under the Investment Advisers Act of 1940, as amended (the “Advisers Act”). Orion provides advisory services to Orion Constellation Partners II LP (the “Fund” or the “Partnership”). All of the investors in the Fund shall also be Qualified Clients, as defined under Rule 205-3 of the Advisers Act. Description of Advisory Services Artemis combines its asset allocation and manager selection process with sophisticated macro- economic analysis, which allows Artemis to tailor its portfolio construction based upon such economic analysis. We focus on providing our clients with comprehensive financial management of their accounts. Artemis utilizes long term investment strategies that are tailored to address a client's individual circumstances and goals to include their:
• Risk Tolerances
• Capital Appreciation Objectives
• Income and Liquidity Requirements
• Tax Implications
• Transfer of Wealth Considerations
• Philanthropic Goals
• Investment Horizon
• Separately Managed Accounts
• Alternative Investments Artemis uses several different types of investment products to help our clients achieve their goals. We meet with each client individually to discuss what types of investment products are best for them, which may include:
• Equity securities such as exchange listed, foreign issues, over-the counter, Closed End Funds and ETF's
• Investment company securities such as mutual fund shares
• US Government securities
• Corporate debt securities
•

Municipal securities Artemis's investment policy process is centered on the client. We work with our clients to understand their financial circumstances and goals. Clients may stipulate if they would like to restrict us from purchasing certain products or securities in their account. The overall investment objectives and process are then presented to the client in the investment advisory agreement. Third-Party Managers (Underlying Managers) When utilizing a third-party manager, Artemis arranges for the investment of client assets with one or more Underlying Managers that in turn make direct investments across a range of strategies, including diversified and sector-specific long only equity and fixed income strategies as well as strategies such as long/short equity strategies focused on G8 countries, event driven arbitrage strategies, distressed debt strategies and global macro-economic trend investments. In general, client arrangements with Underlying Managers are structured as separately managed accounts or limited partnership interests. Artemis can assist clients in establishing relationships with law firms and other service providers in order to structure family partnerships, trust and similar vehicles through which the underlying investments are made. Once Artemis elects to invest all or a portion of a client’s assets with an Underlying Manager, the relevant client must then execute advisory, custody and other agreements (collectively, the “Underlying Agreements”) directly with such Underlying Manager pursuant to which the Underlying Manager will manage that portion of the client’s assets. Artemis is not a party to the Underlying Agreements. Clients are permitted to choose, the custodian to be utilized in connection with the underlying investments. Please note Fund Managers may have established a custodian and the client may not have the option to choose a custodian. The services offered to the clients of Artemis FP will be similar to the services offered by Artemis, but the clients shall generally have assets under management ranging from approximately $2 million to $10 million. Moreover, the portfolio management services will likely involve an allocation of Exchange Trade Funds (“ETFs”), in addition, to individual bonds and equities, as discussed with each client prior to implementing the relevant investment strategy. Assets under Management As of 12/31/2023, The Firm had approximately $1.593 billion in assets under management ($1.018 billion of which represents discretionary assets, the remaining $574 million of which represents non-discretionary assets). Investment management services to clients are provided in accordance with the investment objectives, guidelines and restrictions that are developed in consultation with the client or in accordance with a particular mandate selected by the client at the outset of Artemis’s relationship with the client. At the outset of the relationship, Artemis prepares an asset allocation plan for each client, based on the foregoing. As part of its services to a client, Artemis can assist, if requested by the client, in the liquidation of some or all of an existing portfolio in order for the client to invest in opportunities presented to it by Artemis (the “Legacy Positions”). Artemis typically determines, in consultation with the client, the assets in the existing portfolio that will be liquidated or retained. Wrap Fee Programs The Firm currently does not participate in wrap fee programs.