Portfolio management to client accounts

Shadowridge Value LLC provides portfolio management services by exercising discretionary trading authority over its clients’ separately managed accounts (SMAs). SMAs are accounts held in the client’s name at an independent, third-party custodian who holds the underlying funds and securities that are managed by Shadowridge Value. SMAs provide a low-cost, flexible, and transparent way to manage capital. While we anticipate plenty of overlap among client positions at any given time, investment allocations will be different based on the valuations and opportunities present in the market at the time of client onboarding. Clients are charged an annual management fee (deducted monthly) and if eligible, may opt to be charged annual performance fees. Shadowridge Value accepts individual, joint, and Individual Retirement Accounts (IRAs). The minimum investment consideration is $100,000.

Shadowridge Value uses Interactive Brokers, LLC for both brokerage and custodial services. Interactive brokers has historically provided best execution at low commission rates relative to the brokerage industry. Furthermore, its access to numerous international stock exchanges enables global investing aligning with our go-anywhere approach. Interactive Brokers also has one of the highest credit ratings within the financial services industry.

All accounts managed by Shadowridge Value and held at Interactive Brokers, LLC are protected by the Securities Investor Protection Corporation ("SIPC") for a maximum coverage of $500,000 (with a cash sublimit of $250,000) and under Interactive Brokers LLC's excess SIPC policy with certain underwriters at Lloyd's of London for up to an additional $30 million (with a cash sublimit of $900,000) subject to an aggregate limit of $150 million.