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Adviser Profile

As of Date 10/09/2024
Adviser Type - Large advisory firm
- An investment adviser (or subadviser) to an investment company
Number of Employees 7 -12.50%
of those in investment advisory functions 4
Registration Washington, Terminated, 4/18/2014
Other registrations (1)
AUM* 902,208,628 10.27%
of that, discretionary 902,208,628 10.27%
Private Fund GAV* 5,468,596 11.06%
Avg Account Size 100,245,403 10.27%
SMA’s Yes
Private Funds 2
Contact Info 206 xxxxxxx
Websites

Client Types

- Investment companies
- Pooled investment vehicles
- Pension and profit sharing plans
- State or municipal government entities
- Other

Advisory Activities

- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses
- Selection of other advisers

Compensation Arrangments

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

Recent News

Reported AUM

Discretionary
Non-discretionary
1B 891M 743M 594M 446M 297M 149M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypeHedge Fund Count1 GAV$1,369,788
Fund TypeOther Private Fund Count1 GAV$4,098,808

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Adviser DGV SOLUTIONS LP Hedge Fund- Liquidity Fund- Private Equity Fund- Real Estate Fund- Securitized Asset Fund- Venture Capital Fund- Other Fund519.4m Total Private Fund GAV519.4m AUM781.9m #Funds1
Adviser AVESTAR CAPITAL, LLC Hedge Fund3.3m Liquidity Fund- Private Equity Fund- Real Estate Fund- Securitized Asset Fund- Venture Capital Fund- Other Fund16.3m Total Private Fund GAV19.6m AUM1.1b #Funds3
Adviser ROSE PARK ADVISORS, LLC Hedge Fund419.6m Liquidity Fund- Private Equity Fund- Real Estate Fund- Securitized Asset Fund- Venture Capital Fund178.2m Other Fund13.4m Total Private Fund GAV789.3m AUM632.2m #Funds5
Adviser INHERENT GROUP, LP Hedge Fund- Liquidity Fund- Private Equity Fund- Real Estate Fund- Securitized Asset Fund- Venture Capital Fund- Other Fund- Total Private Fund GAV- AUM186.8m #Funds-
Adviser POPLAR FOREST CAPITAL LLC Hedge Fund- Liquidity Fund- Private Equity Fund- Real Estate Fund- Securitized Asset Fund- Venture Capital Fund- Other Fund96.6m Total Private Fund GAV96.6m AUM1.2b #Funds1
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Adviser PRIVET FUND MANAGEMENT LLC Hedge Fund81.5m Liquidity Fund- Private Equity Fund- Real Estate Fund- Securitized Asset Fund- Venture Capital Fund- Other Fund270.6m Total Private Fund GAV352.1m AUM352.1m #Funds4
Adviser BENNBRIDGE US LLC Hedge Fund- Liquidity Fund- Private Equity Fund- Real Estate Fund- Securitized Asset Fund- Venture Capital Fund- Other Fund- Total Private Fund GAV- AUM371.6m #Funds-
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Top Holdings

Stock Ticker Stock Name $ Position % Position $ Change # Change
Stck Ticker79546E104 Stock NameSALLY BEAUTY HLDGS INC $ Position$6,459,809 % Position3.00% $ Change206.00% # Change142.00%
Stck Ticker83418M103 Stock NameSOLARIS ENERGY INFRAS INC $ Position$4,896,931 % Position2.00% $ Change86.00% # Change25.00%
Stck Ticker53220K504 Stock NameLIGAND PHARMACEUTICALS INC $ Position$4,029,723 % Position2.00% $ Change-13.00% # Change-26.00%
Stck Ticker29446Y502 Stock NameEQUINOX GOLD CORP $ Position$4,259,029 % Position2.00% $ Change56.00% # Change34.00%
Stck Ticker29772L108 Stock NameETON PHARMACEUTICALS INC $ Position$3,479,760 % Position2.00% $ Change82.00% # Change0.00%
Stck Ticker320557101 Stock NameFIRST INTERNET BANCORP $ Position$4,057,103 % Position2.00% $ Change27.00% # Change0.00%
Stck Ticker390607109 Stock NameGREAT LAKES DREDGE & DOCK CO $ Position$4,313,973 % Position2.00% $ Change59.00% # Change33.00%
Stck Ticker03823U102 Stock NameAPPLIED OPTOELECTRONICS INC $ Position$5,212,990 % Position2.00% $ Change90.00% # Change10.00%
Stck Ticker42330P107 Stock NameHELIX ENERGY SOLUTIONS GRP I $ Position$4,777,462 % Position2.00% $ Change127.00% # Change144.00%
Stck Ticker43785V102 Stock NameHOMESTREET INC $ Position$5,243,179 % Position2.00% $ Change38.00% # Change0.00%

Brochure Summary

Overview

Acuitas Investments, LLC (“Acuitas” or the “Adviser”) is primarily owned and controlled by Christopher D. Tessin and Dennis W. Jensen. Less than 20% of the firm is owned by non-operating external partners. The company was formed in January 2011. Acuitas is an investment adviser specializing in global small cap and microcap investing. Our primary business is managing multi-manager strategies that are invested in global microcap and small cap securities. Acuitas is the investment adviser of the Acuitas U.S. Microcap Fund, (“the Mutual Fund”) an open-end mutual fund managed under the Forum Funds II Series Trust, a Series Trust registered under the Investment Company Act. Acuitas is the investment adviser of Acuitas Long/Short Fund, LP and Acuitas Emerging Markets Small Cap Fund, LP (collectively “the Funds”), each a private investment limited partnership formed in Delaware. Acuitas also provides discretionary investment advice to other separately managed accounts for which we employ similar strategies as those employed for the Funds and Mutual Fund. Currently, for the Funds, Mutual Fund and separately managed accounts, Acuitas selects and monitors other independent investment advisers (“subadvisers") who purchase and sell securities for each client’s account. The subadvisers are generally retained through a contractual sub-advisory relationship with us. Additional detail on the Funds’ investment strategies, and the terms and conditions on which we privately offer ownership interests to eligible
investors are described in a current Private Placement Memorandum ("PPM") for each Fund, which is provided to all prospective investors of the Funds. Information in this brochure summarizes certain disclosures in the PPMs. A prospective Fund investor is urged to rely on the fuller descriptions in the Funds’ PPMs, and to contact Acuitas with any questions about the disclosures in the Funds’ PPMs or this brochure. The Mutual Fund is managed in accordance with its investment objectives. Information about the Mutual Fund is provided in the prospectus and statement of additional information, which are available on the SEC’s website at www.sec.gov or on Acuitas’ website at www.acuitasfunds.com. In servicing our clients, Acuitas takes into account the investment objectives, restrictions and guidelines of each client. However, for the Funds and Mutual Fund, advisory services for each client are not tailored to the individual needs of the investors. Investors in these products may not impose restrictions on Acuitas with respect to the investments we make on behalf of our clients. The investment strategy is defined in the PPMs for the Funds and prospectus for the Mutual Fund. See also the section entitled "Methods of Analysis, Investment Strategies and Risk of Loss" in this brochure. As of December 31, 2023, Acuitas managed $902,208,628 in discretionary assets. Page 5