A. Description of Firm Ohana Advisors Management, LLC, a California limited liability company doing business as Ohana Advisors (“Ohana” or “the firm”), is a boutique firm providing comprehensive family office and financial services to an ultra-high net worth clientele. The multi-family office services are individually tailored to emphasize personal service, and the firm functions as each client’s private family office. Ohana currently is registered with the SEC as an investment adviser. The states it conducts business in are reflected in Part 1 of Form ADV, a copy of which can be found on www.adviserinfo.sec.gov. B. Principal Owners Founded in 1993, Ohana operated as a sole proprietorship until its conversion to a California LLC in May 2010. The firm is owned by Joshua M. Richter, Edward John Schneider IV, and David L. Schrader. C. Types of Advisory Services Offered Ohana prides itself in offering a full range of family office services, including investment advisory services. The firm also offers wealth management strategies with financial planning services. These services are designed to assist family clients with their unique needs, priorities, and objectives. Through Ohana, clients have access to an extensive range of investments on an open architecture basis. Ohana does not believe in a “one size fits all” model. Instead, the firm believes that each family is different with its own diverse goals and needs. Consequently, Ohana strives to create and implement an optimal, risk-managed, and diversified strategy tailored for each client. The firm also provides coordination and support between its clients and their other financial, tax, and legal advisors. Each family and decision maker can choose to be as active in or as insulated from the operational processes as they like. Ohana seeks to have, and has been successful in having, long term relationships with its family clients. A majority of its families have been clients for over ten years. Similarly, it has low turnover of its senior professional team who has on average been providing Ohana services for ten years. Further, that senior team averages over 20 years of experience in financial services. Ohana believes this depth of history and experience helps to provide superior client service. The firm is always available for its clients either to meet in person, by phone, or by email. Ohana believes that excellent communication, access, and a personal, responsive organization are essential. Each family’s assets are separately owned. Each family typically utilizes one or more family limited partnerships or LLCs to facilitate co-investing across family entities for efficiency, wider access, and implementation of estate planning strategies. Ohana manages one pooled investment vehicle (the “Fund”) for the purpose of providing increased investment opportunities to its clients. The only investors in the Fund are current Ohana clients and Ohana does not market the Fund’s services to prospective or outside investors. Ohana’s family office services include, among other things, the following: Investment Advisory and Financial Planning Services
• Asset allocations and investment recommendations for family portfolio(s)
• Manager/fund recommendations, access, and oversight
• Comprehensive tracking and reporting of all investments
• Cash management for all entities
• Tax planning support
• Estate and gift planning implementation and services
• Next generation wealth planning, education, and support Family Support Services
• Philanthropic support
• General financial support
• Bill payment services Ohana takes an integrated approach to wealth management. The firm believes achieving financial objectives requires optimal decision-making integrating estate planning tools, investment return analysis, and income tax optimization. At the first level, Ohana helps to originate and coordinate strategies incorporating efficient estate asset transfer techniques as defined by the family’s estate planning attorney. It also takes into consideration potential opportunistic investments and consequential significant potential valuation changes, including the expected timing of those changes. At the second level, Ohana works with clients to construct customized investment portfolios that encompass broad diversification, utilizing third party investment advisers (“TPAs”) and various private fund investments. At the third level, Ohana evaluates, recommends, and implements strategies to meet other financial needs, including life insurance and the establishment of charitable entities. While the firm typically works with the family’s wealth creators, over time it incorporates (dependent on client needs) education and coordination with next generation beneficiaries and/or third-party trustees. Ohana provides investment recommendations on both publicly traded and privately held investments. Publicly traded investments trade on stock exchanges and can be purchased and sold anytime during exchange trading hours. Privately held investments include, for example, private investment funds (such as hedge or private equity funds) with required holding periods and restrictions on re-sale. Clients are provided with private fund memorandums and other offering and subscription documentation for each private fund. The asset classes and types of investments Ohana recommends and manages include, but are not limited to the following: Asset Classes
• Cash and cash equivalents, including money market mutual funds and certificates of deposits
• Fixed income, including US municipal bonds, corporate notes and bonds, mortgage bonds, high yield bonds, and foreign bonds (both developed and emerging markets)
• Equities, including common stock in

US, foreign developed, and emerging markets, and certain venture capital securities
• Absolute Return
• Alternatives
• Real Assets
• Private Equity, including Venture Capital and Buyout Types of Investments
• Exchange traded funds (ETFs), including but not limited to index ETFs and actively managed ETFs
• Registered mutual funds, including, but not limited to both equity and fixed income funds
• Hedge Funds, including fund of funds, long/short, credit or distressed event- oriented funds, various forms of arbitrage funds, natural resources, and other funds
• Alternative investment funds, including royalties, illiquid distressed debt, commodities, leveraged debt, energy infrastructure Master Limited Partnerships (MLPs) and debt funds
• Real Estate Investment Trusts and Limited Partnerships, including publicly traded Real Estate Investment Trust (REIT) securities, and private partnerships in retail, multi-family residential, commercial office and industrial properties, incorporating US, European, Japan and emerging markets
• Private equity funds, including venture capital funds, large cap and middle market buyout funds, distressed debt funds, and sector specific funds including bio-pharma and technology, incorporating developed and emerging markets For detailed information on the investment allocation strategies and the risks involved in the type of investments listed above, please refer to Item 8, below. An important part of the services offered by Ohana is the extensive dialogue with the principals of the family clients. Through this dialogue Ohana strives to clarify, define, confirm, and document each family’s investment and planning objectives. The goal is always to help the family achieve its financial objectives; however, clients should understand that Ohana cannot offer any guarantees or promises that the client’s financial goals and objectives will be met. In addition, clients should notify us promptly if their financial situation, goals, objectives, or needs change at any time and/or if there is any change to the financial information provided to Ohana by the client. In the event that a client notifies Ohana of changes, it will review such changes and may recommend revisions to the client’s investment portfolio. Lastly, Ohana will not assume any responsibility for the accuracy of the financial and investment objective information provided by the client and Ohana is not obligated to verify any such information received from the clients or from their other professionals (e.g., attorney, accountant, etc.). In most instances, each client’s asset allocation and investment portfolio represent their preferences. Ohana offers its services on a discretionary and a non-discretionary basis. When Ohana acts as a non-discretionary manager, clients retain total control over investment selection. This means that Ohana discusses investment recommendations with its family clients, and such clients are under no obligation to implement any of the recommendations. It also means that the family clients retain the authority to open or close all investment and custodian accounts, execute all wire transfers, and sign all investment partnership subscription documents and limited partnership agreements. In these instances, Ohana would not have discretionary authorization to select investments on behalf of its family clients. In instances where Ohana acts as a discretionary manager, Ohana will have discretionary authority to select investments on behalf of its family clients – see Item 16 for details. For administrative convenience for non-discretionary accounts, Ohana generally obtains a Limited Power of Attorney to facilitate trading in clients’ brokerage accounts. This enables the firm, once it has received instructions and approval from the authorized family member or trustee, to implement their investment decisions thereby minimizing the family member/trustee’s administrative processing needs. For instances where Ohana has discretionary authority, such authority will be granted by way of a combination of documents including a Limited Power of Attorney, a Power of Attorney, an Investment Policy Statement, and an Appointment of Agent and Delegation of Authority agreement with the trust or other entity that is granting the authority. Ohana also has an arrangement with an outside aviation company whereby Ohana receives a monthly fee for performing the administrative duties related to managing the expenses of the aircraft. The outside aviation company is responsible for managing the aircraft and has two partners, one of which is Ohana’s client. This business line is completely separate from Ohana’s investment advisory business and has no impact on Ohana’s clients. D. Wrap-Fee Programs Ohana does not provide portfolio management services to any wrap fee programs. E. Advisory Agreements Prior to providing investment advisory services, each client is required to enter into one or more written agreements with Ohana, which sets forth the fees to be charged and the terms and conditions under which Ohana will render services. Ohana will provide a Brochure (Form ADV Part 2A) and one or more Brochure Supplements (Form ADV Part 2B) to each client or prospective client prior to or contemporaneously with the execution of Ohana’s advisory agreement. The advisory relationship will continue until terminated by the client or Ohana in accordance with the provisions stated within the written agreement. F. Amount of Client Assets Managed As of December 31, 2022, the following represents the amount of client assets under management by Ohana on a discretionary and non-discretionary basis: Type of Account Assets Under Management ("AUM") Discretionary $1,182,572,613 Non-Discretionary $453,237,934 Total: $1,635,810,547