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Former SEC-registered adviser

2•• C•••••• L•

Former SEC-registered adviserDallas, TexasCRD 308148SEC 801-118633IAPD

Latest filing Mar 31, 2025

First filing on the tape Mar 31, 2020 · 18 filings

SEC status approved since Apr 30, 2020

RAUM

$142M

reported, Item 5.F

Discretionary

100%

of RAUM

Private clients

0.0%

$0 individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

n/a

derived; firm RAUM over IAPD count

Employees

3 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

18 filings and snapshots on the tape

RAUM$142M as of Mar 31, 2025

Mar 29, 2021$106M then

HNW client RAUM: no history

State-registered IARs (5.B.3)1 as of Mar 31, 2025

Mar 29, 20210 then

Employees (5.A)4 as of Mar 31, 2025

Mar 29, 20213 then

Private funds1 as of Mar 31, 2025

Mar 29, 20211 then

RAUM -67% over the last fiscal year-29% a year over threeIARs 0 to 1

Practice profile

derived from the filing of Mar 31, 2025; every figure names its basis

RAUM per advisor: $142MderivedRAUM 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: $23.6MderivedRAUM over accounts (5.F.2.f)
Discretionary: 100%derivedof RAUM
Institutional: 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 4.0derivedItem 5.A over advisors
Advisors per office: 1.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year: -67%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, performance-basedreportedItem 5.E
Advisory activities: portfolio management for pooled vehiclesreportedItem 5.G
Custody: $72.5M, 3 clientsreportedItem 9.A
Ownership: no PE, bank or public-company owner found on Schedule Aderived
Advisor book size: not public; not estimatedreported

Where the RAUM sits

Form ADV Item 5.D, latest filing

Pooled investment vehicles$130M100%

Individual clients: n/areported
HNW clients: n/areported
Pension plan clients: n/areported
Charitable clients: n/areported
Accounts: 6reported
Financial planning clients: n/areported
Wrap fee programs: noreported
Custody of client assets: $72.5M for 3 clientsreported
Compensation: % of AUM, performancereported
Class basis: absent from the latest SEC rosterderived

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 departure Every arrival

Private funds

1 reported on Schedule D 7.B.(1)

Fund	Type	Gross assets	Owners	First reported
2•• C•••••• M••••• F••• L•••	Hedge Fund	$229M	5	Mar 31, 2020

Owners and control persons

Schedule A and B, latest filing

C••••••• W•••••• C••• · President, Portfolio Manager And Chief Compliance Officercontrol
since 04/2021 · owns 10% to 25%
C••••••• W•••••• C••• · Managing Membercontrol
since 02/2024 · owns F of 2•• C•••••• H••••••• L••
K••••••••• E•••• G••••• · Chief Operating Officer
since 05/2021 · owns less than 5%

Entity owners

2•• C•••••• H••••••• L•• · Managing Member
direct · owns 75% or more

Related persons

Schedule D 7.A

2•• A••••••• L••
pooled vehicle sponsorn

Advisers that list 2•• C•••••• L• as a related person

2543 n

Offices

Schedule D 1.F, the 25 largest

No branch office listed.

What changed

consecutive filings, newest first

Accounts · 7 to 6
Sep 3, 2024 to Mar 31, 2025
Advisory employees · 6 to 3
Sep 3, 2024 to Mar 31, 2025
Pooled vehicle clients · 6 to 5
Sep 3, 2024 to Mar 31, 2025
Assets in custody · $210M to $72.5M
Sep 3, 2024 to Mar 31, 2025
Employees · 7 to 4
Sep 3, 2024 to Mar 31, 2025
Insurance-licensed employees · 1 to 0
Sep 3, 2024 to Mar 31, 2025
State-registered IARs · 0 to 1
Sep 3, 2024 to Mar 31, 2025
Organization form · Limited Liability Company to Limited Partnership
Sep 3, 2024 to Mar 31, 2025
Discretionary RAUM · $429M to $142M
Sep 3, 2024 to Mar 31, 2025
Pooled vehicle RAUM · $413M to $130M
Sep 3, 2024 to Mar 31, 2025
RAUM · $429M to $142M
Sep 3, 2024 to Mar 31, 2025
Business name · 2•• C•••••• L•• to 2•• C•••••• L•
Mar 28, 2024 to Sep 3, 2024
Legal name · 2•• C•••••• L•• to 2•• C•••••• L•
Mar 28, 2024 to Sep 3, 2024
Insurance-licensed employees · 0 to 1
Feb 20, 2024 to Mar 28, 2024
Discretionary RAUM · $531M to $429M
Feb 20, 2024 to Mar 28, 2024
Pooled vehicle RAUM · $531M to $413M
Feb 20, 2024 to Mar 28, 2024
RAUM · $531M to $429M
Feb 20, 2024 to Mar 28, 2024
Related adviser · true to false
Feb 20, 2024 to Mar 28, 2024
Related bank · true to false
Mar 31, 2023 to Feb 20, 2024
Related broker-dealer · true to false
Mar 31, 2023 to Feb 20, 2024
Business name · B• R•••• A•••• M••••••••• L•• to 2•• C•••••• L••
Feb 20, 2024 to Feb 20, 2024
Legal name · B• R•••• A•••• M••••••••• L•• to 2•• C•••••• L••
Feb 20, 2024 to Feb 20, 2024
Advisory employees · 8 to 6
Feb 20, 2024 to Feb 20, 2024
Employees · 9 to 7
Feb 20, 2024 to Feb 20, 2024
Accounts · 4 to 7
Oct 19, 2022 to Mar 31, 2023
Advisory employees · 6 to 8
Oct 19, 2022 to Mar 31, 2023
Pooled vehicle clients · 4 to 6
Oct 19, 2022 to Mar 31, 2023
Assets in custody · $401M to $210M
Oct 19, 2022 to Mar 31, 2023
Employees · 7 to 9
Oct 19, 2022 to Mar 31, 2023
Discretionary RAUM · $401M to $531M
Oct 19, 2022 to Mar 31, 2023
Pooled vehicle RAUM · $401M to $531M
Oct 19, 2022 to Mar 31, 2023
RAUM · $401M to $531M
Oct 19, 2022 to Mar 31, 2023
Advisory employees · 5 to 6
Mar 31, 2022 to May 17, 2022
Organization form · Limited Partnership to Limited Liability Company
Mar 31, 2022 to May 17, 2022
Accounts · 3 to 4
Mar 2, 2022 to Mar 31, 2022
Advisory employees · 6 to 5
Mar 2, 2022 to Mar 31, 2022
Pooled vehicle clients · 3 to 4
Mar 2, 2022 to Mar 31, 2022
Assets in custody · $106M to $401M
Mar 2, 2022 to Mar 31, 2022
Discretionary RAUM · $106M to $401M
Mar 2, 2022 to Mar 31, 2022
Pooled vehicle RAUM · $106M to $401M
Mar 2, 2022 to Mar 31, 2022

Signals

10 dated events

2•• C•••••• L• no longer on the SEC adviser roster (last listed 2025-06-02, RAUM $141.9M)
Jul 1, 2025 · Left the SEC roster · derived
2•• C•••••• L• reported RAUM $141.9M, down 67% from $429.4M (2024-09-03 to 2025-03-31)
Mar 31, 2025 · RAUM change · derived
Gene Douglas Shippee (Chief Compliance Officer) no longer on Schedule A of 2•• C•••••• L• (listed 2024-03-28, absent 2024-09-03)
Sep 3, 2024 · Control person left · inference
2•• C•••••• L• reported RAUM $530.8M, up 32% from $401.4M (2022-10-19 to 2023-03-31)
Mar 31, 2023 · RAUM change · derived
Gene Douglas Shippee (Chief Compliance Officer) appeared on Schedule A of 2•• C•••••• L•
Oct 19, 2022 · Control person joined · fact
Alan Jeffrey Engelsman (Chief Compliance Officer) no longer on Schedule A of 2•• C•••••• L• (listed 2022-05-17, absent 2022-10-19)
Oct 19, 2022 · Control person left · inference
2•• C•••••• L• reported RAUM $401.4M, up 277% from $106.4M (2022-03-02 to 2022-03-31)
Mar 31, 2022 · RAUM change · derived
2•• C••••••• L• reported succeeding to the business of Another Adviser (Form ADV Item 4)
Oct 29, 2021 · Succession (Item 4) · fact
Alan Jeffrey Engelsman (Chief Compliance Officer) appeared on Schedule A of 2•• C•••••• L•
Oct 29, 2021 · Control person joined · fact
2•• C••••••• L• filed its initial SEC registration (Form ADV)
Mar 31, 2020 · First SEC registration · fact

Across DFX

shared identifiers only, never a name match

B• R•••• A•••• M••••••••• L•• · Private Equity
shared crd · intermediary

How to reach

public business contact points only, each with its source

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: Former SEC-registered adviserderiveda 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