SQUAREPOINT OPS LLC

The advisory business is described in Item 4 of the document, which has been updated to reflect changes in office locations and total regulatory assets under management. The document also mentions that clients may make investments in entities with independent management who receive asset-based fees, performance-based fees, profit participation, and/or equity for their services. These compensation arrangements can be substantial and are not offset against any fees, performance charges, or expenses imposed by the Adviser or its affiliates. The document also mentions illiquid and restricted securities and PIPE transactions.

The Funds aim to provide investors with consistent risk-adjusted returns through capital appreciation by investing in financial instruments. Squarepoint Group employs both quantitative and systematic trading methods, as well as discretionary trading approaches. Their strategies include identifying portfolio companies with potential for equity price improvement through corporate or strategic action, acquiring sufficient shares at attractive prices, and engaging with portfolio company management and other shareholders to influence corporate governance decisions. Squarepoint Group also utilizes non-systematic discretionary trading strategies, relying on the individual judgment and discretion of their personnel. These decisions are based on fundamental and technical analysis. While the allocation between systematic and discretionary approaches can vary, the majority of investments are made on a systematic or semi-systematic basis.