Fees and Compensation — Form ADV Part 2A (3/30/2026)
[Brochure]
Item 5: Fees and Compensation
(A) Hawkeye is exempt from disclosing the information requested by this Item 5A, which
relates to how Hawkeye is compensated for its services, because its brochure is delivered only to
“qualified purchasers” as defined in Section 2(a)(51)(A) of the Investment Company Act of 1940,
as amended.
(B) Each quarter, Hawkeye’s accounting team, on behalf of the Fund, calculates the fees
that the Fund is required to pay Hawkeye for its advisory services for the following quarter. The
fee is then paid by the Fund to Hawkeye at the beginning of each quarter. The fees paid by the
Fund are “Investment Management Fees.”
(C) Clients are responsible for all costs and expenses incurred by Hawkeye (both as the
Clients’ investment manager and on behalf of the general partner of the Fund) in performing its
duties on behalf of each Client. However, Clients do not reimburse Hawkeye for its overhead
except to the extent permitted under the organizational documents of each Client. The general
partner of the Fund is (directly and indirectly) a wholly owned subsidiary of Hawkeye.
(D) As discussed in Part B of this Item 5, the Fund pays the Investment Management Fee
in advance each quarter. If the general partner of the Fund is removed by the investors in the Fund
(the “Limited Partners”), Hawkeye will no longer be entitled to the Investment Management Fee
payable by the applicable Client from the effective date of the removal. A Client will be liable for
all fees incurred prior to the removal and will be able to obtain a refund for a pro-rated portion of
the Investment Management Fee for the quarter in which the removal occurred.
(E) Neither Hawkeye nor any of its supervised persons accepts compensation for the sale
of securities owned by a Client. In other words, none of Hawkeye’s compensation (nor any of its
supervised persons’ compensation) is tied to commissions generated by the sale of securities
owned by a Client.
Account Minimums and Types of Clients — Form ADV Part 2A (3/30/2026)
[Brochure]
Item 7: Types of Clients
Hawkeye Partners, LP
Form ADV Part 2A
MARCH 2026 Page 4
Hawkeye provides investment advice to pooled investment vehicles sponsored by
Hawkeye. The Fund is currently Hawkeye’s only client.
The offer and sale of interests in the Fund have not been and will not be registered under
the Securities Act of 1933, as amended (the “Securities Act”), or any similar state law. The
offering and proposed sale of interests in the Clients are made privately to a limited number of
investors in reliance on (i) the “private placement” exemption from registration provided in Section
4(2) of the Securities Act or Rule 506 under Regulation D promulgated thereunder or, for investors
who are not U.S. persons, Regulation S promulgated under the Securities Act, and (ii) where
available, appropriate exemptions from state or foreign registration or qualification requirements.
To ensure compliance with the requirements for such exemptions, interests in the Clients are
offered and sold only to a limited number of investors who are “accredited investors” as defined
in Regulation D.