Investment adviser · CRD 161552

LL FUNDS

Investment adviser filing (IA)

LL FUNDS, LLC

PHILADELPHIA, PA, United States · Form ADV filed Mar 31, 2026

Regulatory AUM: $2.61B
Client accounts: 25
Employees: 28
Advisory professionals: 16

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
Pooled investment vehicles	24	$2,512,604,901	96.4%
Other clients	1	$92,609,277	3.6%

Filing source

Form ADV 2041380 · Mar 31, 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

42 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.

LL MORTGAGE FUND, L.P.Other Private Fund · Last reported Mar 31, 2026$1.01BGross asset value

Form D fundraising filings

LL Mortgage Fund, L.P.

Fund administrator SEI GLOBAL SERVICES, INC. OAKS, Pennsylvania, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor GRANT THORNTON LLP PHILADELPHIA, Pennsylvania, United States

Custodian THE BANK OF NEW YORK MELLON NEW YORK, New York, United States Related to adviser: No

Marketer SEXTANT SECURITIES, LLC NEW YORK, New York, United States Related to adviser: No

Marketer YOSEMITE EXECUTION PARTNERS INC. LAFAYETTE, California, United States Related to adviser: No

Provider details

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

GRANT THORNTON LLP
PCAOB 248

SEXTANT SECURITIES, LLC
CRD 283937 · SEC 8-69772

YOSEMITE EXECUTION PARTNERS INC.
CRD 165587 · SEC 8-69173

Fund details & source

Fund ID: 805-9078079356
Reported beneficial owners: 210
Minimum commitment: $5M
Form D file number: 021-199262

Form ADV 2041380 · Mar 31, 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.

LL STRATEGIC OPPORTUNITIES FUND, L.P. LL OPPORTUNISTIC ABS 2022 SERIESPrivate Equity Fund · Last reported Mar 31, 2026$283MGross asset value

Fund administrator SEI GLOBAL SERVICES, INC. OAKS, Pennsylvania, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor GRANT THORNTON LLP PHILADELPHIA, Pennsylvania, United States

Custodian THE BANK OF NEW YORK MELLON 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

GRANT THORNTON LLP
PCAOB 248

Fund details & source

Fund ID: 805-5239190042
Reported beneficial owners: 84
Minimum commitment: $1M
Form D file number: 021-470292

Form ADV 2041380 · Mar 31, 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.

ULTRA CAPITAL ENERGY TRANSITION FUND III, L.P.Private Equity Fund · Last reported Mar 31, 2026$271MGross asset value

Form D fundraising filings

Ultra Capital Energy Transition Fund III, L.P.

Feeder funds

ULTRA CAPITAL ENERGY TRANSITION FEEDER FUND III, LP

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

Auditor GRANT THORNTON PHILADELPHIA, Pennsylvania, United States

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

Marketer INVICTA CAPITAL LLC OAKMONT, Pennsylvania, United States Related to adviser: No

Marketer JAMES MNOOKIN CHESTNUT HILL, Massachusetts, United States Related to adviser: No

Marketer SEXTANT SECURITIES, LLC 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: Yes

GRANT THORNTON
PCAOB 248

INVICTA CAPITAL LLC
CRD 288101 · SEC 8-69923

SEXTANT SECURITIES, LLC
CRD 283937 · SEC 8-69772

Fund details & source

Fund ID: 805-5026523913
Reported beneficial owners: 62
Minimum commitment: $5M
Form D file number: 021-480342

Form ADV 2041380 · Mar 31, 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.

LL CAPITAL PARTNERS II, L.P.Private Equity Fund · Last reported Mar 31, 2026$163MGross asset value

Form D fundraising filings

LL Capital Partners II, L.P.

Fund administrator SEI GLOBAL SERVICES, INC. OAKS, Pennsylvania, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor GRANT THORNTON LLP PHILADELPHIA, Pennsylvania, United States

Custodian THE BANK OF NEW YORK MELLON 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

GRANT THORNTON LLP
PCAOB 248

Fund details & source

Fund ID: 805-4708612073
Reported beneficial owners: 47
Minimum commitment: $5M
Form D file number: 021-307020

Form ADV 2041380 · Mar 31, 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.

LL PRIVATE LENDING FUND II, L.P.Other Private Fund · Last reported Mar 31, 2026$159MGross asset value

Form D fundraising filings

LL Private Lending Fund II, L.P.

Fund administrator SEI GLOBAL SERVICES, INC. OAKS, Pennsylvania, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor GRANT THORNTON LLP PHILADELPHIA, Pennsylvania, United States

Custodian THE BANK OF NEW YORK MELLON NEW YORK, New York, United States Related to adviser: No

Marketer SEXTANT SECURITIES, LLC 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: Yes

GRANT THORNTON LLP
PCAOB 248

Fund details & source

Fund ID: 805-3889854441
Reported beneficial owners: 98
Minimum commitment: $5M
Form D file number: 021-307021

Form ADV 2041380 · Mar 31, 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.

ULTRA CAPITAL SUSTAINABLE INFRASTRUSTURE FUND II, L.P.Private Equity Fund · Last reported Mar 31, 2026$145MGross asset value

Feeder funds

ULTRA CAPITAL SUSTAINABLE INFRASTRUCTURE TE FEEDER FUND II, LP
ULTRA CAPITAL SUSTAINABLE INFRASTRUCTURE TE INTERMEDIATE FUND, L.P.

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

Auditor GRANT THORNTON PHILADELPHIA, Pennsylvania, United States

Custodian JPMORGAN CHASE BANK, N.A. NEW, 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

GRANT THORNTON
PCAOB 248

Fund details & source

Fund ID: 805-9843718307
Reported beneficial owners: 36
Minimum commitment: $5M
Form D file number: 021-338537

Form ADV 2041380 · Mar 31, 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.

LL CAPITAL PARTNERS III, L.P.Private Equity Fund · Last reported Mar 31, 2026$138MGross asset value

Form D fundraising filings

LL Capital Partners III, L.P.

Fund administrator SEI GLOBAL SERVICES, INC. OAKS, Pennsylvania, United States Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor GRANT THORNTON LLP PHILADELPHIA, Pennsylvania, United States

Custodian THE BANK OF NEW YORK MELLON 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

GRANT THORNTON LLP
PCAOB 248

Fund details & source

Fund ID: 805-3829125419
Reported beneficial owners: 83
Minimum commitment: $5M
Form D file number: 021-410586

Form ADV 2041380 · Mar 31, 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.

Services & filing details

Most recent filing: Mar 31, 2026. View historical filings

Reported services

Pooled investment vehicle management · Business portfolio management

Compensation

Percentage of assets · Performance-based

Principal office

2400 MARKET STREET, SUITE 302
PHILADELPHIA, PA, 19103, United States

CRD 161552

Filing source

Form ADV 2041380 · Mar 31, 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.