Investment adviser · CRD 133040

ACORN ADVISORY CAPITAL, L.P.

Investment adviser filing (IA)

NEW YORK, NY, United States · Form ADV filed Mar 19, 2026

Regulatory AUM: $2.96B
Client accounts: 7
Employees: 22
Advisory professionals: 11

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client type	Clients	Regulatory assets	Share of AUM
Insurance companies	Fewer than 5	$2,026,250,061	68.4%
Pooled investment vehicles	4	$930,452,324	31.4%
High-net-worth individuals	Fewer than 5	$5,474,863	0.2%

Filing source

Form ADV 2055672 · Mar 19, 2026 · Item 5.D

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Private funds & service providers

14 Private funds

The count excludes feeder funds. Funds in the latest filing appear first, ordered by reported gross assets. Earlier funds retain their last reported values.

BUILD MASTER FUND, LTD.Hedge Fund · Last reported Mar 19, 2026$674MGross asset value

Feeder funds

BUILD CAPITAL PARTNERS, L.P.

Fund administrator CLEARWATER ANALYTICS LLC BOISE, Idaho, United States Investor statements: No (provided to no investors) Related to adviser: No

Auditor COHN REZNICK (CAYMAN) GRAND CAYMAN, Cayman Islands

Custodian GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States Related to adviser: No

Custodian JP MORGAN CHASE BANK NA NEW YORK, New York, United States Related to adviser: No

Custodian NORTHERN TRUST INTERNATIONAL BANKING CORPORATION NEW YORK, New York, United States Related to adviser: No

Prime broker GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

COHN REZNICK (CAYMAN)
PCAOB 596

GOLDMAN SACHS & CO. LLC
SEC 8-129

GOLDMAN SACHS & CO. LLC
CRD 361 · SEC 8-129

Fund details & source

Fund ID: 805-2990602351
Reported beneficial owners: 20
Minimum commitment: $5M
Form D file number: 021-279023
Form D file number: 021-279025

Form ADV 2055672 · Mar 19, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

ACORN EUR ALTERNATIVE INCOME FUND LLCOther Private Fund · Last reported Mar 19, 2026$182MGross asset value

Auditor PRICE WATERHOUSE COOPERS LLP NEW YORK, New York, United States

Custodian THE BANK OF NEW YORK MELLON PITTSBURGH, Pennsylvania, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: No
External marketing: No

PRICE WATERHOUSE COOPERS LLP
PCAOB 238

THE BANK OF NEW YORK MELLON
LEI HPFHU0OQ28E4N0NFVK49

Fund details & source

Fund ID: 805-8182731356
Reported beneficial owners: 3
Minimum commitment: $1M

Form ADV 2055672 · Mar 19, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

BUILD PRIVATE CREDIT, L.P.Other Private Fund · Last reported Mar 19, 2026$56.2MGross asset value

Fund administrator CLEARWATER ANALYTICS LLC BOISE, Idaho, United States Investor statements: No (provided to no investors) Related to adviser: No

Auditor COHN REZNICK LLP PARSIPPANY, New Jersey, United States

Custodian BNY MELLON PITTSBURGH, Pennsylvania, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

COHN REZNICK LLP
PCAOB 596

Fund details & source

Fund ID: 805-6713493346
Reported beneficial owners: 5
Minimum commitment: $1M

Form ADV 2055672 · Mar 19, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

BUILD MUNICIPAL STRATEGIES MASTER FUND LTD.Hedge Fund · Last reported Mar 19, 2019$224MGross asset value

Feeder funds

BUILD MUNICIPAL STRATEGIES, L.P.
BUILD MUNICIPAL STRATEGIES OFFSHORE FUND, LTD

Fund administrator SS&C FUND SERVICES (CAYMAN) LTD. GRAND CAYMAN, Cayman Islands Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor COHN REZNICK (CAYMAN) GRAND CAYMAN, Cayman Islands

Custodian BNY MELLON PITTSBURGH, Pennsylvania, United States Related to adviser: No

Custodian NORTHERN TRUST NEW YORK, New York, United States Related to adviser: No

Custodian PERSHING PRIME SERVICES JERSEY CITY, New Jersey, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

COHN REZNICK (CAYMAN)
PCAOB 596

Fund details & source

Fund ID: 805-6099379780
Reported beneficial owners: 3
Minimum commitment: $1M
Form D file number: 021-314484

Form ADV 1284734 · Mar 19, 2019 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

BUILD CAPITAL MASTER FUND SPC LTD SEGREGATED PORTFOLIO MACROHedge Fund · Last reported Jan 14, 2021$69.6MGross asset value

Feeder funds

BUILD CAPITAL SERIES FUND LP SEGREGATED PORTFOLIO MACRO
BUILD CAPITAL FUND SPC LTD SEGREGATED PORTFOLIO MACRO

Fund administrator SS&C FINANCIAL SERVICES LLC HARRISON, New York, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Fund administrator SS&C FUND SERVICES (CAYMAN) LTD. GRAND CAYMAN, Cayman Islands Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor COHN REZNICK (CAYMAN) GRAND CAYMAN, Cayman Islands

Auditor COHN REZNICK LLP ROSELAND, New Jersey, United States

Custodian NORTHERN TRUST INTERNATIONAL BANKING CORPORATION NEW YORK, New York, United States Related to adviser: No

Prime broker MORGAN STANLEY NEW YORK, New York, United States

Prime broker NATWEST MARKETS PLC STAMFORD, Connecticut, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

COHN REZNICK (CAYMAN)
PCAOB 596

COHN REZNICK LLP
PCAOB 596

MORGAN STANLEY
CRD 149777 · SEC 8-68191

Fund details & source

Fund ID: 805-8378522700
Reported beneficial owners: 6
Minimum commitment: $5M
Form D file number: 021-342091

Form ADV 1481680 · Jan 14, 2021 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

ACORN TACTICAL TRADING , L.P.Hedge Fund · Last reported Mar 26, 2013$14MGross asset value

Form D fundraising filings

Acorn Tactical Trading, L.P.

Fund administrator GLOBEOP FINANCIAL SERVICES LLC NEW YORK, New York, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor ERNST & YOUNG LLC NEW YORK, New York, United States

Custodian JP MORGAN CHASE BANK N.A, NEW YORK, New York, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

Fund details & source

Fund ID: 805-9340906791
Reported beneficial owners: 6
Minimum commitment: $2M
Form D file number: 021-156544

Form ADV 714234 · Mar 26, 2013 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

BUILD CAPITAL MASTER FUND SPC LTD SEGREGATED PORTFOLIO MUNIHedge Fund · Last reported Mar 22, 2023$10.1MGross asset value

Feeder funds

BUILD CAPITAL SERIES FUND LP SEGREGATED PORTFOLIO MUNI

Fund administrator SS&C FUND SERVICES (CAYMAN) LTD. GRAND CAYMAN, Cayman Islands Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor COHN REZNICK (CAYMAN) GRAND CAYMAN, Cayman Islands

Custodian NORTHERN TRUST INTERNATIONAL BANKING CORPORATION NEW YORK, New York, United States Related to adviser: No

Custodian THE BANK OF NEW YORK MELLON PITTSBURGH, Pennsylvania, United States Related to adviser: No

Prime broker PERSHING LLC JERSEY CITY, New Jersey, United States

Provider details

Annual audit: Yes
Prime brokers: Yes
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

COHN REZNICK (CAYMAN)
PCAOB 596

THE BANK OF NEW YORK MELLON
LEI HPFHU0OQ28E4N0NFVK49

PERSHING LLC
CRD 7560 · SEC 8-17574

Fund details & source

Fund ID: 805-5431498079
Reported beneficial owners: 3
Minimum commitment: $5M
Form D file number: 021-339558

Form ADV 1723707 · Mar 22, 2023 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Services & filing details

Most recent filing: Mar 19, 2026. View historical filings

Reported services

Individual portfolio management · Pooled investment vehicle management · Business portfolio management

Compensation

Percentage of assets · Performance-based

Principal office

590 MADISON AVENUE, 30TH FLOOR
NEW YORK, NY, 10022, United States

CRD 133040

Filing source

Form ADV 2055672 · Mar 19, 2026 · Items 1 & 5

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.