Overview
A. General Description of Advisory Firm.
Truffle Hound Capital, LLC (“THC” or the “Firm”), a Delaware limited liability company, is an SEC
registered investment adviser with its principal office located in Bethesda, MD. We were formed in
March 2002. Stephen R. Bauer is the Chief Executive Officer, Chief Investment Officer, managing
member of the Firm, and has primary responsibility for managing the Firm and its investment activities.
He has devoted substantially all of his business time since July 2002 to managing the investment program
of the Firm’s only client, Truffle Hound Global Value, LLC (the “Fund”), which is a global long-short
hedge fund.
Paul E. Froehlich is Chief Compliance Officer (“CCO”) and Co-Chief Operating Officer and has primary
responsibility for the Firm’s compliance and human resources. In the event of the death, disability,
incompetency, or bankruptcy of Mr. Bauer, Mr. Froehlich will wind up the Firm’s affairs.
Christopher H. Weber is Co-Chief Operating Officer and has primary responsibility for trading, investor
relations, and business development. Mr. Weber will depart from THC on July 1, 2024.
Timothy J. Stewart will assume the roles of Chief Financial Officer and Co-Chief Operating Officer on
May 1, 2024. He will have
primary responsibility for accounting, finance, and business development.
In the event of the death, disability, incompetency, or bankruptcy of Mr. Bauer, Mr. Stewart will assist
Mr. Froehlich in winding up the Firm’s affairs.
We have no subsidiaries.
B. Description of Advisory Services (including any specializations)
Truffle Hound Capital, LLC employs a value philosophy to invest in publicly traded securities that offer
substantial upside with a wide margin of safety, while reducing volatility with hedges on broad-based
stock indices. THC’s primary advantages are the ability to migrate to undervalued asset classes and the
ability to exploit relatively small investment opportunities in small companies or niche industries. The
Firm manages the investment activities of the Fund, which is its only client.
C. Availability of Tailored Services for Individual Clients
This is not applicable as THC does not tailor services for individual clients other than the Fund.
D. Wrap Fee Programs.
This is not applicable as we do not offer any wrap fee programs.
E. Client Assets Under Management.
As of December 31, 2023, the gross asset value of the Fund, our sole client, was $551,221,794 all of
which is managed on a discretionary basis.