COLTRANE ASSET MANAGEMENT, L.P.

Thesis

The firm employs a value-oriented investment strategy, focusing on security selection in equities and opportunistic credit investments. While historically focused on European securities, Coltrane also engages in global investing, with up to 15% of its net exposure potentially in emerging markets. The firm has demonstrated a contrarian approach, notably shifting from cheap European stocks to bearish options bets against overvalued big tech companies in late 2020, which proved highly profitable. Coltrane manages pooled investment vehicles and is not an active ESG investor. As of July 2022, the fund managed $1.92 billion in AUM and had generated over 223% in the first half of 2022. The fund also opposed a rescue deal for Interserve and blocked the takeover of Spotless. Top holdings in September 2021 included iShares Trust - iShares 20+ Year Treasury Bond ETF (TLT), Invesco QQQ Trust (QQQ), and Delta Air Lines (DAL). The firm is headquartered in New York, NY, operates as a limited partnership, and is registered with the SEC. Funds are offered exclusively to accredited investors, qualified purchasers, and qualified clients.

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• Series C+ investors based in New York, NY