9AT: VN CAPITAL MANAGEMENT, LLC

Adviser Profile

As of Date	03/09/2026
Registration	SEC, Approved, 05/03/2013
ADV Location	GREENSBORO, NC, United States
Contact Info	336 xxxxxxx

AUM^*	63,047,483 -37%
of that, discretionary	63,047,483 -37%
Number of Employees	1 -50%
of those in investment advisory functions	1 -50%
Private Fund GAV^*	63,047,483 -37%
Avg Account Size	63,047,483 27%
SMA’s	No
Private Funds	1 1

Adviser Type

- Mid-sized advisory firm

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

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

	Count	GAV
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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 HIGH HURDLE CAPITAL LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM96.6m	#Funds-
Adviser DUMONT GLOBAL LP	Hedge Fund25.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV25.0m	AUM111.0m	#Funds1
Adviser ARTHEDGE CAPITAL MANAGEMENT, LLC	Hedge Fund155.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV155.0m	AUM155.0m	#Funds1
Adviser ONCE CAPITAL MANAGEMENT, LLC	Hedge Fund422.1m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV422.1m	AUM422.1m	#Funds4
Adviser WINDWARD MANAGEMENT LP	Hedge Fund245.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV245.6m	AUM191.6m	#Funds4
Adviser SABER CAPITAL MANAGEMENT LLC	Hedge Fund61.0m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV61.0m	AUM129.3m	#Funds2
Adviser 9823 CAPITAL, LP	Hedge Fund224.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV224.8m	AUM677.1m	#Funds4
Adviser NEWPOINT REAL ESTATE INVESTMENT MANAGEMENT LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM690.1m	#Funds1
Adviser DIPSEA CAPITAL, LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM61.3m	#Funds-
Adviser SYSTEMATIC PORTFOLIOS LLC	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM102.3m	#Funds-

Brochure Summary

Overview

A. Advisory Business Description James T. Vanasek and P. Donnell Noone founded VN Capital Management, LLC (“VN Capital” or the “Firm”) in March 2002 and each owns a 50% stake. VN Capital serves as the investment manager and a general partner of the VN Capital Fund I, L.P. (the “Fund I”) which was established in April 2002. Since September 2014, VN Capital has served as the investment manager for VN Capital Fund C, LP, a Delaware limited partnership (“Fund C” and together with Fund I, the “Fund”) which holds a 54% interest in Ceres Global Ag Corp, a publicly traded Canadian company. VN Capital Management was founded on the belief that long-term wealth accumulation is derived from exhaustive bottom-up proprietary research coupled with a conservative, value equity investing philosophy exhibiting low portfolio turnover, minimal expenses, and selective hedging. Across both Funds, we manage a concentrated portfolio of six to twelve US- and Canadian-listed small and micro-cap stocks from easily understood industries that are either overlooked by the broad investment community or that are unfairly tainted

by adverse news affecting their respective economic areas. James T. Vanasek and P. Donnell Noone are the founders and Principals of VN Capital. B. Type of Advisory Services VN Capital is the investment manager and a general partner of the Fund I, a limited partnership which specializes in investing in 6-12 small- and micro-cap stocks publicly traded in either the United States, Canada, the United Kingdom, or Denmark. VN Capital serves as investment manager for Fund C and invests the funds of the partnership in shares and warrants of Ceres Global Ag. Corp. C. Tailoring Advisory Services VN Capital does not tailor its advisory services for investors in a Fund but manages the assets of a Fund in accordance with the Fund’s investment policies and guidelines. D. Wrap Fee Programs VN Capital does not participate in any wrap fee programs. Item 4 5 E. Client Assets As of December 31, 2020, VN Capital manages all $99,578,000 of assets under management on a discretionary basis. That includes the $73,330,000 in Fund I and $26,248,000 in Fund C. 6

VN CAPITAL MANAGEMENT, LLC

VN CAPITAL MANAGEMENT, LLC

Adviser Profile

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Brochure Summary

Overview

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VN CAPITAL MANAGEMENT, LLC VN CAPITAL MANAGEMENT, LLC

Adviser Profile

Adviser Type

Client Types

Advisory Activities

Compensation Arrangments

Reported AUM

Private Funds

Employees

Private Funds Structure

Similar advisers

Brochure Summary

Overview

VN CAPITAL MANAGEMENT, LLC

VN CAPITAL MANAGEMENT, LLC