9AT: UNION SQUARE PARK CAPITAL MANAGEMENT, LLC

other names

UNION SQUARE PARK CAPITAL MANAGEMENT, LLC

Adviser Profile

As of Date	03/24/2025
Adviser Type - Large advisory firm
Number of Employees	4 33%
of those in investment advisory functions	2
Registration	SEC, Approved, 07/29/2021
Other registrations (1)	SEC, ERA - Withdrawn, 06/29/2021
Former registrations	UNION SQUARE PARK CAPITAL MANAGEMENT, LLC

AUM^*	158,734,446 -16%
of that, discretionary	158,734,446 -16%
Private Fund GAV^*	158,734,446 0%
Avg Account Size	158,734,446 -16%
SMA’s	No
Private Funds	2 1
Contact Info	(34 xxxxxxx
Websites

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

Fund Type	Count	GAV
Fund TypeHedge Fund	Count2	GAV$158,734,446

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 UNIO CAPITAL LLC	Hedge Fund20.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV20.8m	AUM315.4m	#Funds2
Adviser CAMBRIAN ASSET MANAGEMENT, INC.	Hedge Fund188.5m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV188.5m	AUM171.4m	#Funds3
Adviser ELCO MANAGEMENT COMPANY, LLC	Hedge Fund29.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV29.6m	AUM252.2m	#Funds1
Adviser MACELLUM ADVISORS, LP	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM189.1m	#Funds-
Adviser DELPHIA	Hedge Fund-	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV-	AUM187.1m	#Funds-
Adviser TWIN SECURITIES, INC.	Hedge Fund235.7m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV235.7m	AUM271.4m	#Funds4
Adviser NEO IVY CAPITAL MANAGEMENT, LLC	Hedge Fund26.6m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV26.6m	AUM1.0b	#Funds3
Adviser AVALON GLOBAL ASSET MANAGEMENT LLC	Hedge Fund443.8m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV443.8m	AUM443.8m	#Funds4
Adviser HUTNER CAPITAL MANAGEMENT INC.	Hedge Fund73.9m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV73.9m	AUM270.7m	#Funds3
Adviser SONIC GP LLC	Hedge Fund121.1m	Liquidity Fund-	Private Equity Fund-	Real Estate Fund-	Securitized Asset Fund-	Venture Capital Fund-	Other Fund-	Total Private Fund GAV121.1m	AUM121.1m	#Funds1

Stock Ticker	Stock Name	$ Position	% Position	$ Change	# Change
Stck Ticker78462F103	Stock NameSPDR S&P 500 ETF TR (PUT)	$ Position$61,954,740	% Position22.00%	$ Change36.00%	# Change27.00%
Stck Ticker464287655	Stock NameISHARES TR (PUT)	$ Position$27,825,400	% Position10.00%	$ Change-26.00%	# Change-34.00%
Stck Ticker46090E103	Stock NameINVESCO QQQ TR (PUT)	$ Position$15,009,250	% Position5.00%	$ Change	# Change
Stck Ticker74967X103	Stock NameRH	$ Position$10,158,000	% Position4.00%	$ Change7.00%	# Change0.00%
Stck Ticker781386305	Stock NameRIDENOW GROUP INC	$ Position$7,615,335	% Position3.00%	$ Change94.00%	# Change2.00%
Stck Ticker70614W100	Stock NamePELOTON INTERACTIVE INC (CALL)	$ Position$7,200,000	% Position3.00%	$ Change43.00%	# Change10.00%
Stck Ticker55087P104	Stock NameLYFT INC (CALL)	$ Position$8,804,000	% Position3.00%	$ Change	# Change
Stck TickerG31249108	Stock NameESTABLISHMENT LABS HLDGS INC	$ Position$7,173,250	% Position3.00%	$ Change-1.00%	# Change3.00%
Stck Ticker12769G100	Stock NameCAESARS ENTERTAINMENT INC NE	$ Position$9,188,500	% Position3.00%	$ Change4.00%	# Change10.00%
Stck Ticker20464U100	Stock NameCOMPASS INC	$ Position$9,229,682	% Position3.00%	$ Change180.00%	# Change119.00%

Brochure Summary

Overview

Union Square Park Capital Management, LLC (“we,” “us,” or “our”) is a Delaware limited liability company that was formed in November 2011 and began operations in April 2015. We are principally owned and controlled by Leon M. Zaltzman, who is our Founder and Managing Member (the “Managing Member”). We provide discretionary investment advice to a private fund, Union Square Park Partners, LP (the “Fund”). We expect to provide investment advice to separately managed accounts (“SMAs”) and additional private funds in the future. References throughout this document to “clients” refer to the Fund and any other private funds and SMAs that we may advise in the future. Client accounts are managed in accordance with their own investment and trading objectives, as described in their respective offering documents,

governing agreements or advisory agreements (collectively, the “Governing Documents”). We do not permit investors in the Fund to impose limitations on the investment activities described in the Fund’s Governing Documents. Under certain circumstances, we may contract with SMA clients to adhere to limited risk and/or operating guidelines imposed by such clients. We would negotiate such arrangements on a case-by-case basis. (See Item 16 - Investment Discretion.) Union Square Park GP, LLC (the “Union Square Park GP”) serves as the general partner to the Fund. We do not participate in wrap fee programs. As of December 31, 2023, we managed $158,616,879 of regulatory assets under management on a discretionary basis. We do not manage any assets on a non-discretionary basis.

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UNION SQUARE PARK CAPITAL MANAGEMENT, LLC

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