Item 5 – Fees and Compensation
The fees applicable to each Fund are set forth in detail in each Fund’s offering documents. A brief
summary of such fees is provided below.
For certain Funds, the Adviser charges an investment management fee at an annual rate of from
1.75% to 2.00%, calculated and paid each calendar quarter in advance (the “Management Fee”).
The Management Fee is adjusted for contributions or subscriptions and withdrawals or
redemptions made during each quarter. In the event of a withdrawal or redemption from a Weld
Fund other than the end of a quarter, any Management Fees will be pro-rated and the excess
returned to the withdrawing or redeeming Investor.
The Adviser may also receive a performance-based fee or allocation for the management of certain
of the Funds which is based on a share of capital gains or appreciation of the assets of the Fund.
Performance-based compensation ranges from 17.5% to 20%, subject to a loss carry-forward
provision. Performance-based compensation is generally taken at the end of each calendar year.
Weld, or its affiliates, in their sole discretion, may elect to reduce or waive the performance-based
allocation or fee, or the Management Fee with respect to any Investor, including, without
limitation, an Investor that is a partner, member or employee of the Adviser, the General Partner,
or such person’s family members and trusts, or other entities established for the benefit of such
person or his or her family members.
Management Fees and performance-based fees or allocations are described in greater detail in the
offering documents of the Funds.
The Adviser is responsible to pay all overhead expenses of an ordinary and recurring nature such
as rent, supplies, secretarial expenses, stationery, charges for furniture and fixtures, employee
insurance, payroll taxes and compensation of employees.
All other expenses are borne by the Funds and are allocated generally, in a pro-rata fashion, based
on asset size of each fund, to the extent an expense is incurred by multiple Funds. Such expenses
may include: (i) legal, accounting (including third-party accounting services), administration,
audit, and other professional fees and expenses, (ii) organizational expenses, (iii) research and data
expenses, (iv) technology infrastructure expenses, (v) trading-related technology software costs
deemed by the Adviser deemed to benefit the Funds such as portfolio, order and risk management
systems, (vi) compliance expenses of the Adviser, and the Funds (including expenses related to
various filings (or portions thereof) the Adviser is required to make as a result of managing the
Funds’ portfolio, such as Form ADV, Form PF and expenses related to registration, filing, and/or
reporting requirements in any jurisdiction in which the interests are offered or sold), (vii) director’s
and officer’s insurance and errors and omissions insurance related to the Adviser, and Funds, as
applicable (expenses (i) through (vii), collectively, “Capped Expenses”), the Management Fee,
expenses incurred in connection with the Fund’s indemnification obligation, out-sourced trading
expenses, investment expenses such as commissions and trading and support services (including
payments to assisting brokers), borrowing charges, custodial fees, bank service fees and other
FORM ADV
Part 2A Weld Capital Management LLC March 26, 2021 Page 6 of 30
expenses related to the purchase, sale, preservation or transmittal of Client assets. Notwithstanding
the foregoing, Capped Expenses in excess of 0.50% per annum of the aggregate calculated monthly
on an annualized basis, are be borne by the Adviser.
Weld may, in its sole discretion, bear any of the Funds’ expenses described above; provided that,
if Weld does pay any such expenses, it will not be required to continue to pay such expenses and
may thereafter cause the Funds to pay such expenses.
The allocation of expenses by the Adviser between it and any Fund and among Clients represents
a conflict of interest for the Adviser. Weld has adopted an expense allocation policy that is
designed to address this conflict. The Adviser allocates expenses to each Client in accordance
with the Client's arrangements with the Adviser. Weld seeks to allocate shared expenses for
products and services benefitting the Adviser and a Fund, and not covered in the Client's
arrangements in a fair and reasonable manner. The Adviser generally allocates common Fund
expenses among multiple Funds or Clients pro rata based on assets under management.
More detailed information regarding the fees and expenses paid by the Funds may be found in the
offering documents of the Funds.
Neither the Adviser nor its employees accept compensation, including sales charges or service
fees, from any person for the sale of securities or other investment products.
FORM ADV
Part 2A Weld Capital Management LLC March 26, 2021 Page 7 of 30