# BIDS TRADING L.P. X-17A-5 (2025-02-26) — Broker-dealer annual report - Company: BIDS TRADING L.P. - Form: X-17A-5 - Filed: 2025-02-26 - Period: 2024-12-31 - Accession: 0001368727-25-000001 - CIK: 1368727 - File #: 8-67376 - Type: Broker-dealer - Material weakness: No - Auditor: KPMG LLP - Auditor location: Kansas City, MO - Contact: Fred Teufel - Phone: 610-308-9911 - Email: fred@vigilantllc.com - Website: vigilantllc.com - Signed by: Stephen Berte (President) Original filing: https://www.sec.gov/Archives/edgar/data/1368727/000136872725000001/BIDS_Public_SEC_2024.pdf --- {0}------------------------------------------------ ### **UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549** OMB APPROVAL OMB Number: ϯϮϯϱͲϬϭϮϯ Expires: EŽǀ͘ϯϬ͕ϮϬϮϲ Estimated average burden hours per response: > SEC FILE NUMBER 8-67376 # **ANNUAL REPORTS FORM X-17A-5 PART III** **FACING PAGE** | Information Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 under the Securities Exchange Act of 1934 | | |-----------------------------------------------------------------------------------------------------------|--| |-----------------------------------------------------------------------------------------------------------|--| | FILING FOR THE PERIOD BEGINNING _____________________ AND ENDING ______________________ | 01/01/24 | 12/31/2024 | |-----------------------------------------------------------------------------------------|----------|------------| | | MM/DD/YY | MM/DD/YY | # **A. REGISTRANT IDENTIFICATION** ### NAME OF FIRM: \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ BIDS Trading L.P. TYPE OF REGISTRANT (check all applicable boxes): ܆ Broker-dealer ܆ Security-based swap dealer ܆ Major security-based swap participant ܆ Check here if respondent is also an OTC derivatives dealer ■ ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) ## \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ (No. and Street) \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ (City) (State) (Zip Code) PERSON TO CONTACT WITH REGARD TO THIS FILING \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ (Name) (Area Code – Telephone Number) (Email Address) **B. ACCOUNTANT IDENTIFICATION** INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing\* \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ (Name – if individual, state last, first, and middle name) \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ (Address) (City) (State) (Zip Code) \_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_ (Date of Registration with PCAOB)(if applicable) (PCAOB Registration Number, if applicable) **FOR OFFICIAL USE ONLY** One Liberty Plaza, 165 Broadway, 23rd Floor New York NY 10006 Fred Teufel (610) 308-9911 fred@vigilantllc.com KPMG LLP 1000 Walnut, Suite 1100 Kansas City MO 64106 10/20/2003 185 \* Claims for exemption from the requirement that the annual reports be covered by the reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(ii), if applicable. **Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.** {1}------------------------------------------------ ### OATH OR AFFIRMATION | Stephen Berte | | swear (or affirm) that, to the best of my knowledge and belief, the | |------------------------------------------------------|--------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------| | | financial report pertaining to the firm of BIDS Trading L.P. | , as of | | 12/31 | | 2 024 __ is true and correct. I further swear (or affirm) that neither the company nor any | | | | partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely | | as that of a customer. | | | | | ZOE NORINSKY | | | | NOTARY PUBLIC-STATE OF NEW YORK | Signature: | | | No. 01NO6172830 | | | | Qualified in New York County | Title: | | | My Commission Expires 08-20-2027 President | | | Notary Public | | | | This filing** contains (check all applicable boxes): | | | | (a) Statement of financial condition. | | | | | (b) Notes to consolidated statement of financial condition. | | | | | [] (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of | - comprehensive income (as defined in § 210.1-02 of Regulation S-X). - [ (d) Statement of cash flows. - [ (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - [ (f) Statement of changes in liabilities subordinated to claims of creditors. - [ (g) Notes to consolidated financial statements. - O (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - [ (i) Computation of tangible net worth under 17 CFR 240.18a-2. - [] Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - | (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - [1) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - [ (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - [ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - [] (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - [ {p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - [ (r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - LJ (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - = {t} Independent public accountant's report based on an examination of the statement of financial condition. - □ (u) Independent public accountant's report based on an examination of the financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - □ (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - | {w} }ndependent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - [] (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17a-12, as applicable. - □ {y} Report describing any material inadequacies found to exist or found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). - (z) Other: - \*\* To request confidential treatment of certain portions of this filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable. {2}------------------------------------------------ # BIDS Trading L.P. Financial Statement (With Report of Independent Registered Public Accounting Firm Thereon) As of December 31, 2024 {3}------------------------------------------------ ![](_page_3_Picture_0.jpeg) KPMG LLP Suite 1100 1000 Walnut Street Kansas City, MO 64106-2162 ### **Report of Independent Registered Public Accounting Firm** To the ATS Oversight Committee of Cboe Global Markets, Inc. and to the Partners of BIDS Trading L.P.: ### *Opinion on the Financial Statement* We have audited the accompanying statement of financial condition of BIDS Trading L.P. (the Company) as of December 31, 2024, and the related notes (collectively, the financial statement). In our opinion, the financial statement presents fairly, in all material respects, the financial position of the Company as of December 31, 2024, in conformity with U.S. generally accepted accounting principles. ### *Basis for Opinion* This financial statement is the responsibility of the Company's management. Our responsibility is to express an opinion on this financial statement based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statement is free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statement, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statement. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statement. We believe that our audit provides a reasonable basis for our opinion. ![](_page_3_Picture_9.jpeg) We have served as the Company's auditor since 2021. Kansas City, Missouri February 26, 2025 {4}------------------------------------------------ ## BIDS Trading L.P. # Statement of Financial Condition December 31, 2024 | Assets | | | | | |-------------------------------------------------------------------|------|------------|--|--| | Cash | ಕ್ಕಾ | 10,386,483 | | | | Receivables: | | | | | | Accounts receivable, net of \$108,209 allowance for credit losses | | 5,278,635 | | | | Receivables from non-subscribers | | 723,031 | | | | Receivables from affiliates | | 71,450 | | | | Total receivables | | 6,073,116 | | | | | | | | | | Other assets | | 189,314 | | | | Total assets | ക്ക | 16,648,913 | | | | | | | | | | Liabilities and Partners' Capital | | | | | | Liabilities: | | | | | | Accounts payable and accrued expenses | ക | 861,764 | | | | Payables to affiliates | | 2,173,533 | | | | Total liabilities | | 3,035,297 | | | | Commitments and contingencies (note 8) | | | | | | Partners' Capital: | | | | | | General Partner | | 1 | | | | Limited Partner | | 13,613,615 | | | | Total partners' capital | | 13,613,616 | | | | Total liabilities and partners' capital | ಕಾ | 16,648,913 | | | | | | | | | See accompanying notes to financial statement. {5}------------------------------------------------ ### BIDS Trading L.P. Notes to Financial Statement As of December 31, 2024 ### (1) Nature of Business BIDS Trading L.P. ("the Company") was formed as a Delaware Limited Partnership on June 14, 2006. The Company is an agency broker-dealer registered with the Securities and Exchange Commission ("SEC") and a member of the Financial Industry Regulatory Authority, Inc. ("FINRA"). The Company is an indirect, wholly-owned subsidiary of Cboe Global Markets, Inc ("the Parent"). The Company operates a proprietary alternative trading system ("the ATS"), which is used by the Company to facilitate the execution of equity securities trades. The ATS facilitates trading among buy-side and sell-side entities seeking to complete large block orders and generates brokerage transaction fees for the Company for facilitating such transactions. The Parent is listed on the Cboe BZX Exchange. The Company does not claim an exemption from SEC Rule 15c3-3, in reliance on footnote 74 to SEC Release 34-70073 in that the Company limits its business activities exclusively to effecting securities transactions in Regulation National Market System ("NMS") stocks on its ATS on behalf of its broker-dealer subscribers. The Company does not directly receive, hold, or otherwise owe funds or securities for or to subscribers, did not carry accounts of or for subscribers, and did not carry proprietary accounts of broker-dealers ("PAB accounts") throughout the most recent fiscal year. ### (2) Summary of Significant Accounting Policies ### (a) Principles of Accounting The financial statement is presented in conformity with generally accepted accounting principles in the United States ("GAAP") as established by the Financial Accounting Standards Board ("FASB"). References to GAAP in these footnotes are to the FASB Accounting Standards Codification ("ASC" or "Codification"). #### Use of Estimates (b) The preparation of the financial statement in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities as well as disclosure of the amounts of contingent assets and liabilities at the date of the financial statement. Actual results could differ significantly from those estimates. #### (c) Cash The Company maintains its cash at various financial institutions and brokerage firms that, at times, may be in excess of the federal insurance limits. #### (d) Restricted Cash The Company maintains a cash balance deposited with its clearing broker, BofA Securities, Inc. ("BofA"), in accordance with the Clearing Agreement between the Company and BofA. {6}------------------------------------------------ ### **/!\$(+'** \$>C4BC>8=0=280;(C0C4<4=C B>5424<14A #### *-* %=0?4A8>38210B8B<0=064<4=C4E0;D0C4BC74>A3B 0= 0;;>F0=24 5>A 4G?42C43 2A438C ;>BB4B 8= 022>A30=24 F8C7 ( *-* D4C>C74B7>AC C4A<=0CDA4>5C74022>D=CBA4248E01;4270=64B 8=5DCDA442>=><822>=38C8>=B0A4=>C4G?42C43C>70E40B86=85820=C8=C744G?42C43 2A438C;>BB4B 22>D=CB A4248E01;4 0A4 ?A4B4=C43 =4C >5 0;;>F0=24 5>A 2A438C ;>BB4B >= C74 BC0C4<4=C >5 58=0=280;2>=38C8>= 22>D=CBA4248E01;4?A8<0A8;H2>=B8BCB>5CA0=B02C8>=544BA4248E01;4 (44 \$>C4-22>D=CB'4248E01;4-5>A<>A48=5>A<0C8>= '4248E01;4B5A><=>= BD1B2A814AB?A8<0A8;H2>=B8BCB>5C74A4BCA82C4320B710;0=2434?>B8C43 F8C78CB2;40A8=61A>:4A>5 #### *-* %C74A0BB4CB8=2;D34?A4?0834G?4=B4B #### *-* )74>=B>;830C435434A0;8=2><4C0GA4CDA=58;431HC74&0A4=C B C74 >C BD1942C C> C0G C74A4 8B => 0;;>20C8>= >5 C74 &0A4=CJB8=2><4C0G4B8=C74>D;314A4248E43C>B4;;0=0BB4C>A?083C>CA0=B54A0;8018;8CH 8=0=>A34A;HCA0=B02C8>=14CF44=<0A:4C?0AC828?0=CB0CC74<40BDA4<4=C30C40=3B4CB>DC0508A E0;D4784A0A27H )74508AE0;D4784A0A27H68E4BC7478674BC?A8>A8CHC>@D>C43?A824B8=02C8E4<0A:4CB 5>A834=C820;0BB4CB>A;8018;8C84B "4E4; 0=3C74;>F4BC?A8>A8CHC>D=>1B4AE01;48=?DCB "4E4; =?DCB 0A4 1A>03;H 3458=43 0B 0BBD=B <0A:4C ?0AC828?0=CB F>D;3 DB4 8= ?A828=6 0= 0BB4C >A ;8018;8CH )74C7A44;4E4;B>5C74508AE0;D4784A0A27H0A434B2A814314;>F "4E4; \*=039DBC43@D>C43?A824B8=02C8E4<0A:4CB5>A834=C820;0BB4CB>A;8018;8C84BC70CC74 A4?>AC8=64=C8CH70BC74018;8CHC>0224BB0CC74<40BDA4<4=C30C4 "4E4;=?DCB>C74AC70=@D>C43?A824BF8C78="4E4; C70C0A4>1B4AE01;45>AC740BB4C>A ;8018;8CH 48C74A 38A42C;H >A 8=38A42C;H508A E0;D4 8B 34C4A<8=43C7A>D67C74 DB4 >5<>34;B >A >C74AE0;D0C8>=<4C7>3>;>684B B86=85820=C039DBC<4=CC>0"4E4;8=?DC2>D;3A4BD;C8=C74 "4E4;<40BDA4<4=C142><8=60"4E4;<40BDA4<4=C "4E4;=?DCB0A4D=>1B4AE01;45>AC740BB4C>A;8018;8CH0=38=2;D34B8CD0C8>=BF74A4C74A4 8B;8CC;4850=H<0A:4C02C8E8CH5>AC740BB4C>A;8018;8CH )748=?DCB8=C>C7434C4A<8=0C8>=>5 508A E0;D4 0A4 10B43 D?>= C74 14BC 8=5>A<0C8>= 8= C74 28A2DA4BC8<0C8>= )74 508A E0;D4 >5 C74 >D=CB A4248E01;4 A4248E01;4B5A><=>= BD1B2A814AB0=3022>D=CB?0H01;40=3022AD434G?4=B4B0??A>G8<0C4BC74 20AAH8=6E0;D43D4C>C748AB7>AC C4A<=0CDA4 {7}------------------------------------------------ ### **/!\$(+'** \$>C4BC>8=0=280;(C0C4<4=C B>5424<14A ### **##,2+10%#%(3!")%** )74022>D=CBA4248E01;410;0=240C424<14A F0B )78B?A8<0A8;H2>=B8BCB>5 CA0=B02C8>=544BA4248E01;4 )74 4G?42C43 2A438C ;>BB4B >5 022>D=CB A4248E01;4 10;0=24B 0A4A46D;0A;H 4E0;D0C43 10B43 >= 0 2><18=0C8>= >5 502C>AB BD27 0B BD1B2A814A 2A438CF>AC78=4BB ?0BC CA0=B02C8>= 78BC>AH F8C7 C74 BD1B2A814A 0=3 2DAA4=C 42>=><82 CA4=3B )74 0;;>F0=24 5>A 022>D=CB A4248E01;4 2A438C ;>BB4B 8B 20;2D;0C43DB8=60=068=6B2743D;4 #### **%1!-(1!)%.2(/%\*%+10** )74>C74(\*=85>A<\$4C0?8C0;'D;4 ('D;4 2 F7827 A4@D8A4B C74<08=C4=0=24>5<8=8?A>E834BC70C4@D8CH20?8C0; <0H=>C14F8C73A0F=>A20B738E834=3B?0838524AC08=<8=8C <4C )74>3?A>E83435>A8= ( 'D;4 2 ( 'D;4 2 F7827 0B >5 424<14A A4@D8A4B C74 > <08=C08==4C20?8C0;4@D0;C>C746A40C4A>5 >5066A460C48=341C43=4BB8C4A C 424<14A C74 >5 F7827 F0B 8=4G24BB>58CBA4@D8A43=4C20?8C0;>5 )74A0C8>>5066A460C48=341C43=4BBC> =4C20?8C0;F0B C> ### **%)!1%\$!/14/!+0!#1(,+0** )74>3<8=8BCA0C8E4(4AE824B 0=3(D??>AC6A44<4=CBF8C7 0558;80C4B >5 C74&0A4=C &DABD0=CC>C74B406A44<4=CB24AC08=0558;80C4B>5C74&0A4=C?A>E834B70A43B4AE824BC> C74 >D=C8=6 0=3 ?0HA>;; )74 ?0H01;4 C> 0558;80C4B 5>A C78B 06A44<4=C F0B 0B >5 424<14A )74 >C74A 0558;80C4B C7A>D67C74&0A4=C0==D0;;H>A0B=44343 ### **%'\*%+1%-,/1(+'** )74>?4A0C4B0B0B8=6;4A4?>AC01;4B46<4=C0B8CBB>;45D=2C8>=8BC>>?4A0C4C74)( )74 >?4A0C8=6 3428B8>= <0:4A -%#- 8B C74 &A4B834=C >5 C74 >A34A C> <0:4 >?4A0C8>=0; 3428B8>=B 10B43 >= 4G24BB =4C 20?8C0; (44\$>C4-\$4C0?8C0;'4@D8A4<4=CB-5>A<>A48=5>A<0C8>= ### **,\*\*(1\*%+10!+\$,+1(+'%+#(%0** )74>A4E84FB0=38=B?42C8>=B1HC74(0=3\$' 338C8>=0;;H5A>C8<4C74>8=E>;E438=E0A8>DB;460;?A>24438=6B0A8B8=68=C74>A38=0AH2>DAB4>5 1DB8=4BB )74>4B=>C14;84E4C70CC74>DC2><4>50=H>5C74B4A4E84FB8=B?42C8>=B>A >C74A;460;?A>24438=6BF8;;70E40<0C4A80;8=C7458=0=280;BC0C4<4=C7>F4E4A;8C860C8>=8B BD1942CC><0=HD=24AC08=C84B0=3<0=064<4=C3>4B=>C4G?42CC74A4B>;DC8>=>5BD27<0CC4ABC> 70E40<0C4A80;8=C74>B8C8>= )74>B43C>2>D=C4A?0ACH2A438CA8B:8=C7420B4>5508;DA4C>?4A5>A<>=C74?0AC>5 C742;40A8=658A;E438=?A>24BB8=64@D8C84BCA0=B02C8>=B>=C74>5 C> 2;40A CA0=B02C8>=B >5 6D0A0=C44B C74 CA034 D=C8; C74 CA034 70B 144= BD1<8CC43C> 0=3 E0;830C43 1HC74 \$0C8>=0;(42DA8C84B ;40A8=6>A?>A0C8>= -\$(- 05C4A F7827 C8<4\$(?A>E834B06D0A0=C44D=C8;C74CA034B4CC;4B )7DBC74>C4=C80;;H4G?>B43 C>2A438C A8B:C>C742>D=C4A?0ACHC>0=4@D8CHCA034 A>DC43C>0=>C74A<0A:4C24=C4AD=C8;C74CA034 70B 144= ?A>24BB43 0=3 E0;830C43 1H C74 \$( >= C74 CA034 30C4 = C74 20B4 >5 0 508;DA4 C> {8}------------------------------------------------ ## **/!\$(+'** \$>C4BC>8=0=280;(C0C4<4=C B>5424<14A ?4A5>A<>=C74?0AC>5>5C74>1;860C8>=BC>C742>D=C4A?0AC84BC>B0C8B5HC74CA034B )74>C4=C80; A4@D8A4<4=C5>AC74><0:4?0H<4=CBD=34A C74B4>1;860C8>=B8BA4<>C40=3022>A38=6;H70B=>CA42>A3430=H;8018;8CH8=C7458=0=280;BC0C4<4=C 5>AC74B4>1;860C8>=B ### **2"0%.2%+13%+10** )74>A<430=4E0;D0C8>=>54E4=CBC70C70E4>22DAA43BD1B4@D4=CC>424<14A C7A>D67 41AD0AH F7827 8B C74 30C4 C74 58=0=280; BC0C4<4=C F0B 0E08;01;4 C> 14 8BBD43 )74A470E4144==>BD1B4@D4=C4E4=CBC70C70E4>22DAA433DA8=6BD27?4A8>3C70CF>D;3 A4@D8A438B2;>BDA48=C7458=0=280;BC0C4<4=C>AF>D;314A4@D8A43C>14A42>6=8I438=C7458=0=280; BC0C4<4=C0B>5424<14A Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.