9AT: SANDIA INVESTMENT MANAGMENT LP

SANDIA INVESTMENT MANAGMENT LP

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SANDIA INVESTMENT MANAGMENT LP
SANDIA INVESTMENT MANAGEMENT LLC

Adviser Profile

As of Date	03/31/2025
ADV Location	BOSTON, MA, United States
Adviser Type - Large advisory firm
Number of Employees	6 50%
of those in investment advisory functions	5 67%
Registration	SEC, Approved, 04/21/2021
Other registrations (1)	SEC, ERA - Withdrawn, 03/19/2021
Former registrations	SANDIA INVESTMENT MANAGEMENT LLC

AUM^*	581,711,901 -30%
of that, discretionary	562,700,000 -28%
Private Fund GAV^*	0 -100%
Avg Account Size	58,171,190 -58%
SMA’s	Yes
Private Funds	0 1
Contact Info	(51 xxxxxxx
Websites

Client Types

- Pooled investment vehicles
- Corporations or other businesses not listed above

Advisory Activities

- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments

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

Reported AUM

790M 677M 564M 451M 339M 226M 113M

2021 2022 2023

Discretionary

Non-discretionary

Private Funds

GAV Count

Employees

Top Holdings

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck TickerG4375F108	Stock NameHAYMAKER ACQUISITION CORP IV	$ Position$2,268,000	% Position7.00%	$ Change-36.00%	# Change-38.00%
Stck TickerG2003N105	Stock NameBOLD EAGLE ACQUISITION CORP	$ Position$1,881,048	% Position6.00%	$ Change-1.00%	# Change0.00%
Stck TickerG32901103	Stock NameFACT II ACQUISITION CORP	$ Position$1,291,045	% Position4.00%	$ Change0.00%	# Change0.00%
Stck TickerG1169T104	Stock NameBLEICHROEDER ACQUISITION COR	$ Position$910,000	% Position3.00%	$ Change	# Change
Stck TickerG5509P102	Stock NameLIVE OAK ACQUISITION CORP V	$ Position$1,020,000	% Position3.00%	$ Change-5.00%	# Change0.00%
Stck Ticker758932206	Stock NameREGIS CORPORATION	$ Position$960,084	% Position3.00%	$ Change31.00%	# Change0.00%
Stck TickerG9572D103	Stock NameWEBULL CORP	$ Position$953,911	% Position3.00%	$ Change24.00%	# Change0.00%
Stck Ticker940923105	Stock NameWATERBRIDGE INFRASTRUCTURE L	$ Position$630,500	% Position2.00%	$ Change	# Change
Stck Ticker946784105	Stock NameWAYSTAR HLDG CORP	$ Position$568,800	% Position2.00%	$ Change-44.00%	# Change-40.00%
Stck Ticker92556W104	Stock NameVIA TRANSN INC	$ Position$817,360	% Position2.00%	$ Change	# Change

Brochure Summary

Overview

Sandia Investment Management LP (“Sandia,” the “Adviser,” “we,” or “our”) is a Delaware limited partnership formed in 2020 by its owner, Timothy J. Sichler. Through our liquidation audit date, Sandia serves as the investment adviser, with discretionary trading authority, to a private pooled investment vehicle, the securities of which are offered through a private placement memorandum to accredited investors, as defined under the Securities Act of 1933, as amended, and qualified purchasers, as defined under the Investment Company Act of 1940, as amended. We do not tailor our advisory services to the individual needs of any particular investor. Sandia provides management services to qualified investors through its private fund (which is not actively investing at this time) and separately managed institutional accounts (“SMAs”). At this time, we serve as the investment manager for the following private fund: Sandia Crest LP, a Delaware Limited Partnership (the “Fund”) where we expect a full liquidation in April 2024. Sandia also provides discretionary investment advisory services as a sub-advisor to private investment funds managed by other investment advisors (the “Sub-Advised Funds”). The Fund and SMAs and the Sub-Advised Funds and future funds

herein referred to as the “Client”, and collectively referred to as the “Clients”. The future fund’s “Limited Partners” hereinafter referred to as the “Investors” where appropriate. Sandia Funds GP LLC serves as the “General Partner” for the Fund. Our investment decisions and advice with respect to the SMAs and the Sub-Advised Funds are subject to each such Client’s investment objectives and guidelines, as set forth in the SMAs’ “Investment Management Agreements,” and the Sub-Advised Funds’ “Sub-Advisory Agreements” (collectively, the “Offering Documents”). Our investment decisions and advice with respect to the Fund and SMAs are subject to the Fund’s investment objectives and guidelines, as set forth in its respective “Offering Documents” and each Separately Managed Account’s objectives and guidelines, as set forth in its respective Investment Management Agreement, Portfolio Manager Agreement, or Investment Sub-Advisory Agreement (collectively “Investment Management Agreements”). Sandia does not sponsor or participate in wrap fee programs. As of December 31, 2023, Sandia had approximately $599,600,000 in discretionary Regulatory Assets Under Management (“RAUM”) and $35,389,869 in non-discretionary Regulatory Assets Under Management.