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SEC-registered adviser

H•• I••••••••• L••

Asset manager (funds and pooled vehicles)Chicago, IllinoisCRD 307372SEC 801-118142websiteIAPD
Latest filing Feb 11, 2026
First filing on the tape Jan 30, 2020 · 8 filings
SEC status approved since Feb 28, 2020
RAUM
$326M
reported, Item 5.F
Discretionary
100%
of RAUM
Private clients
0.0%
$0 individuals and HNW
Advisors
0
registered through the firm on IAPD
RAUM per advisor
n/a
derived; firm RAUM over IAPD count
Employees
2
1 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
2
reported on Schedule D
History
8 filings and snapshots on the tape
RAUM$326M as of Feb 11, 2026
Mar 16, 2021$138M then
HNW client RAUM: no history
State-registered IARs (5.B.3)0 as of Feb 11, 2026
Mar 16, 20210 then
Employees (5.A)2 as of Feb 11, 2026
Mar 16, 20213 then
Private funds2 as of Feb 11, 2026
Mar 16, 20217 then
RAUM -94% over the last fiscal year-49% a year over threeIARs 0 to 0
Practice profile
derived from the filing of Feb 11, 2026; every figure names its basis
RAUM per advisor
unknownderivedRAUM over IAPD advisors; not a book size
Clients per advisor
unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client
unknownderivedHNW RAUM over HNW clients
Average account
$163MderivedRAUM over accounts (5.F.2.f)
Discretionary
100%derivedof RAUM
Institutional
0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor
unknownderivedItem 5.A over advisors
Advisors per office
unknownderived1 offices incl. principal (1.F.5)
RAUM growth, one year
-94%derivedbetween the last two annual amendments
Advisor growth, one year
unknownderivedItem 5.B.3 between annual amendments
Client growth, one year
unknownderived
Compensation
percentage of assets, fixed fees, performance-based, otherreportedItem 5.E
Advisory activities
portfolio management for businesses and institutions, portfolio management for pooled vehicles, selection of other advisers, otherreportedItem 5.G
Ownership
no PE, bank or public-company owner found on Schedule Aderived
Advisor book size
not public; not estimatedreported
Also answered yes on Form ADV
  • has discretionary authority over which securities are bought or sold (8.C.1)
  • receives research or other products from a broker-dealer, soft dollars (8.E)
Where the RAUM sits
Form ADV Item 5.D, latest filing
  • Pooled investment vehicles$326M100%
Individual clients
n/areported
HNW clients
n/areported
Pension plan clients
n/areported
Charitable clients
n/areported
Accounts
2reported
Financial planning clients
0reported
Wrap fee programs
noreported
Custody of client assets
noreported
Compensation
% of AUM, fixed, performancereported
Class basis
private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=false related_bank=true bd_reps=0.0derived
Advisors registered through the firm
0 on IAPD today, longest tenure first
No representative is registered through this CRD on IAPD.
Advisor movement
Left, latest
none on the tape
    Joined, latest
    none on the tape
      Every departureEvery arrival
      Private funds
      5 reported on Schedule D 7.B.(1)
      FundTypeGross assetsOwnersFirst reported
      H•••• P••••••• F•••Hedge Fund$2.5B4Nov 14, 2018
      H•••• U• E••••• E• F•••••••• B••• F•••Hedge Fund$475M1Nov 27, 2015
      H•••• E••• E••••• E• F•••••••• B••• F•••Hedge Fund$198M1Nov 27, 2015
      H•••• U• E••••• E• F•••••••• B••• F•••Hedge Fund$6.5M1Nov 27, 2015
      H•••• E••• E••••• E• F•••••••• B••• F•••Hedge Fund$6.1M1Nov 27, 2015
      Owners and control persons
      Schedule A and B, latest filing
      • A•••••••• M•••••• · President And Chief Compliance Officercontrol
        since 11/2019 · owns 50% to 75%
      • N•••••••• J•••••• G••••• · Membercontrol
        since 01/2001 · owns 25% to 50% of H•• G••••• L••
      Entity owners
      • E•••••• L•• · Managing Member
        direct · owns 50% to 75%
      • H•• A•••• M••••••••• L•••• · Member
        direct · owns 25% to 50%
      • A•••••••• M•••••• · Member
        indirect · owns 50% to 75% of E•••••• L••
      • H•• G••••• L•• · Member
        indirect · owns 25% to 50% of H•• A•••• M••••••••• L••••
      Related persons
      Schedule D 7.A
      Advisers that list H•• I••••••••• L•• as a related person
      Offices
      Schedule D 1.F, the 25 largest
      No branch office listed.
      ADV anomalies
      1 against comparable advisers; where to look, not conclusions
      • RAUM down 50 %Change between filings · filing Feb 11, 2026
        RAUM (Item 5.F) moved from $5,117,079,131 to $326,180,124 (-94.0%) between the annual amendments of 2025-03-31 and 2026-02-11; the peer median change was +4.0% (1145 comparable advisers, 0.0th percentile of changes)
        peers: asset managers, $100M to $500M (1,145) · 0.2% percentile
      How anomalies are measured
      What changed
      consecutive filings, newest first
      • Accounts · 3 to 2
        Mar 31, 2025 to Feb 11, 2026
      • Pooled vehicle clients · 3 to 2
        Mar 31, 2025 to Feb 11, 2026
      • Employees · 3 to 2
        Mar 31, 2025 to Feb 11, 2026
      • Private funds · 3 to 2
        Mar 31, 2025 to Feb 11, 2026
      • Discretionary RAUM · $5.1B to $326M
        Mar 31, 2025 to Feb 11, 2026
      • Pooled vehicle RAUM · $5.1B to $326M
        Mar 31, 2025 to Feb 11, 2026
      • RAUM · $5.1B to $326M
        Mar 31, 2025 to Feb 11, 2026
      • Accounts · 5 to 3
        Mar 28, 2024 to Mar 31, 2025
      • Pooled vehicle clients · 5 to 3
        Mar 28, 2024 to Mar 31, 2025
      • Financial planning clients · 0 to 0
        Mar 28, 2024 to Mar 31, 2025
      • Private funds · 5 to 3
        Mar 28, 2024 to Mar 31, 2025
      • Discretionary RAUM · $0 to $5.1B
        Mar 28, 2024 to Mar 31, 2025
      • Non-discretionary RAUM · $3.2B to $0
        Mar 28, 2024 to Mar 31, 2025
      • Pooled vehicle RAUM · $3.2B to $5.1B
        Mar 28, 2024 to Mar 31, 2025
      • RAUM · $3.2B to $5.1B
        Mar 28, 2024 to Mar 31, 2025
      • Non-discretionary RAUM · $2.5B to $3.2B
        Mar 31, 2023 to Mar 28, 2024
      • Pooled vehicle RAUM · $2.5B to $3.2B
        Mar 31, 2023 to Mar 28, 2024
      • RAUM · $2.5B to $3.2B
        Mar 31, 2023 to Mar 28, 2024
      • Advisory employees · 2 to 1
        Sep 13, 2022 to Mar 31, 2023
      • Discretionary RAUM · $8.5B to $0
        Sep 13, 2022 to Mar 31, 2023
      • Non-discretionary RAUM · $0 to $2.5B
        Sep 13, 2022 to Mar 31, 2023
      • Pooled vehicle RAUM · $8.5B to $2.5B
        Sep 13, 2022 to Mar 31, 2023
      • RAUM · $8.5B to $2.5B
        Sep 13, 2022 to Mar 31, 2023
      • Employees · 4 to 3
        Mar 31, 2022 to Sep 13, 2022
      • Accounts · 7 to 5
        Mar 16, 2021 to Mar 31, 2022
      • Pooled vehicle clients · 7 to 5
        Mar 16, 2021 to Mar 31, 2022
      • Employees · 3 to 4
        Mar 16, 2021 to Mar 31, 2022
      • Private funds · 7 to 5
        Mar 16, 2021 to Mar 31, 2022
      • Discretionary RAUM · $138M to $8.5B
        Mar 16, 2021 to Mar 31, 2022
      • Pooled vehicle RAUM · $138M to $8.5B
        Mar 16, 2021 to Mar 31, 2022
      • RAUM · $138M to $8.5B
        Mar 16, 2021 to Mar 31, 2022
      • Accounts · 14 to 7
        Jan 30, 2020 to Mar 16, 2021
      • Advisory activities · 5 to 4
        Jan 30, 2020 to Mar 16, 2021
      • Pooled vehicle clients · 14 to 7
        Jan 30, 2020 to Mar 16, 2021
      • Private funds · 14 to 7
        Jan 30, 2020 to Mar 16, 2021
      • Discretionary RAUM · $203M to $138M
        Jan 30, 2020 to Mar 16, 2021
      • Pooled vehicle RAUM · $203M to $138M
        Jan 30, 2020 to Mar 16, 2021
      • RAUM · $203M to $138M
        Jan 30, 2020 to Mar 16, 2021
      Signals
      6 dated events
      • H•• I••••••••• L•• reported RAUM $326.2M, down 94% from $5.1B (2025-03-31 to 2026-02-11)
        Feb 11, 2026 · RAUM change · derived
      • H•• I••••••••• L•• reported RAUM $5.1B, up 60% from $3.2B (2024-03-28 to 2025-03-31)
        Mar 31, 2025 · RAUM change · derived
      • H•• I••••••••• L•• reported RAUM $3.2B, up 27% from $2.5B (2023-03-31 to 2024-03-28)
        Mar 28, 2024 · RAUM change · derived
      • H•• I••••••••• L•• reported RAUM $2.5B, down 70% from $8.5B (2022-09-13 to 2023-03-31)
        Mar 31, 2023 · RAUM change · derived
      • H•• I••••••••• L•• reported RAUM $8.5B, up 6069% from $137.7M (2021-03-16 to 2022-03-31)
        Mar 31, 2022 · RAUM change · derived
      • H•• I••••••••• L•• filed its initial SEC registration (Form ADV)
        Jan 30, 2020 · First SEC registration · fact
      Across DFX
      shared identifiers only, never a name match
      No identifier-backed link to the venture, private equity, family office or sponsor graphs.
      How to reach
      public business contact points only, each with its source
      Website
      h•••••••••.comreportedpublic record, Form ADV, Sep 21, 2026
      Principal office phone
      312-327-0430reportedpublic record, Form ADV, Feb 11, 2026
      Provenance
      Form ADV
      SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
      Advisors
      IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
      Class
      Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
      RAUM per advisor
      n/aderivedfirm RAUM over the IAPD count; not a book size
      Loaded
      Sep 14, 2026