ASA MANAGED ACCOUNT MANAGERS LLC

ASA MANAGED ACCOUNT MANAGERS LLC and ASA Tax Advantaged Advisors LLC and TF Managers LLC (Relying Advisers) March 28, 2025 FORM ADV BROCHURE SUPPLEMENT PART 2B Cover Page Item 1 Supervised Person: Investment Adviser: Address: Telephone Number: Robert D. Albright Jr. ASA Managed Account Managers LLC and Relying Advisers 600 Highway 169 South, Suite 1735 Minneapolis, MN 55426 952-847-2450 This brochure supplement provides information about Robert D. Albright Jr. that supplements the ASA Managed Account Managers LLC and Relying Advisers brochure. You should have received a copy of that brochure. Please contact Tim Stevens at (952) 847-2460 if you did not receive ASA Managed Account Managers LLC and Relying Advisers’ brochure or if you have any questions about the contents of this supplement. Educational Background and Business Experience Item 2 Name: Year of Birth: Education: Robert D. Albright Jr. 1967 1989 Dartmouth College, B.A. Engineering Services 2001 University of Minnesota, M.S. Computer Information Science 2001 Chartered Financial Analyst 2020 University of Minnesota, M.S. Mathematics Business Background: 1991 – 1998 2005 – 2012 2001 – 2019 2009 – 2018 2011 – 2016 2017 – 2022 2001 – Present 2007 – Present 2008 – Present 2012 – Present Senior Trader and Desk Manager, Cargill Financial Services Corp. Managing Member, ASA OF Advisors LLC Managing Member/Portfolio Manager, ASA Tax Advantaged Advisors LLC Managing Member/Portfolio Manager, Enhanced Municipal Managers LLC Managing Member/Portfolio Manager, ASA Convergence Partners LLC Managing Member/Portfolio Manager, Occom Opportunity Partners LLC Managing Member, Alternative Strategy Advisers LLC Managing Member/Portfolio Manager, Occum Partner LLC Managing Member/Portfolio Manager, ASA Managed Account Managers LLC Managing Member/Portfolio Manager, TF Managers LLC Disciplinary Information Item 3 Not applicable (Continued on page 2) 1  ASA MANAGED ACCOUNT MANAGERS LLC and ASA Tax Advantaged Advisors LLC and TF Managers LLC (Relying Advisers) March 28, 2025 FORM ADV BROCHURE SUPPLEMENT PART 2B Other Business Activities Item 4 A. Investment Related Activities Robert D. Albright Jr. is a Managing Member of Alternative Strategy Advisers LLC (“ALT”), a firm offering investment opportunities to individuals and institutions through multiple investment entities for which it provides administrative and support services. ALT is affiliated with and the following entities through direct ownership or common control: Occum Partners LLC - Business involved in real estate acquisition and financing. Mr. Albright is a Managing Member and Portfolio Manager for Occum Partners LLC. Mr. Albright may have conflicts of interest in allocating his time and activity among the entities and investments for his own account. Mr. Albright is compensated differently from each of the entities. Each supervised person is required to understand and comply with a comprehensive set of policies and procedures which include a code of ethics, personal and insider trading, and trade allocation. B. Other Business Activities Not applicable Additional Compensation Item 5 Not applicable Supervision Item 6 Tim Stevens, Chief Compliance Officer of ALT, is responsible for supervising Robert D. Albright Jr. Mr. Albright is required to comply with all of the compliance policies and procedures adopted by ASA Managed Account Managers LLC and Relying Advisers including its code of ethics, personal and insider trading policy, and trade allocation policy. Mr. Albright’s supervisor is available at (952) 847-2460. 2  ASA MANAGED ACCOUNT MANAGERS LLC and ASA Tax Advantaged Advisors LLC and TF Managers LLC (Relying Advisers) March 28, 2025 FORM ADV BROCHURE SUPPLEMENT PART 2B Cover Page Item 1 Supervised Person: Investment Adviser: Address: Telephone Number: Roland A. Jacobus ASA Managed Account Managers LLC and Relying Advisers 600 Highway 169 South, Suite 1735 Minneapolis, MN 55426 952-847-2450 This brochure supplement provides information about Roland A. Jacobus that supplements the ASA Managed Account Managers LLC and Relying Advisers brochure. You should have received a copy of that brochure. Please contact Tim Stevens at (952) 847-2460 if you did not receive ASA Managed Account Managers LLC and Relying Advisers’ brochure or if you have any questions about the contents of this supplement. Educational Background and Business Experience Item 2 Name: Year of Birth: Education: Roland A. Jacobus 1965 1987 Dartmouth College, B.A. Economics and Mathematics 1998 Chartered Financial Analyst 2017 University of Minnesota, M.S. Mathematics Business Background: 1987 – 1991 1991 – 1998 1998 – 2001 2005 – 2012 2001 – 2019 2009 – 2018 2011 – 2016 2017 – 2022 2001 – Present 2007 – Present 2008 – Present 2012 – Present Senior Trader, Cargill Financial Services Corp. Founder and Managing Partner, Eagle Capital Management Inc. Senior Portfolio Manager, Delphi Financial Group Managing Member, ASA OF Advisors LLC Managing Member/Portfolio Manager, ASA Tax Advantaged Advisors LLC Managing Member/Portfolio Manager, Enhanced Municipal Managers LLC Managing Member/Portfolio Manager, ASA Convergence Partners LLC Managing Member/Portfolio Manager, Occom Opportunity Partners LLC Managing Member, Alternative Strategy Advisers LLC Managing Member/Portfolio Manager, Occum Partner LLC Managing Member/Portfolio Manager, ASA Managed Account Managers LLC Managing Member/Portfolio Manager, TF Managers LLC Disciplinary Information Item 3 Not applicable (Continued on page 4) 3  ASA MANAGED ACCOUNT MANAGERS LLC and ASA Tax Advantaged Advisors LLC and TF Managers LLC (Relying Advisers) March 28, 2025 FORM ADV BROCHURE SUPPLEMENT PART 2B Other Business Activities Item 4 C. Investment Related Activities Roland A. Jacobus is a Managing Member of Alternative Strategy Advisers LLC (“ALT”), a firm offering investment opportunities to individuals and institutions through multiple investment entities for which it provides administrative and support services. ALT is affiliated with and the following entities through direct ownership or common control: Occum Partners LLC - Business involved in real estate acquisition and financing. Mr. Jacobus is a Managing Member and Portfolio Manager for Occum Partners LLC. Mr. Jacobus may have conflicts of interest in allocating his time and activity among the entities and investments for his own account. Mr. Jacobus is compensated differently from each of the entities. Each supervised person is required to understand and comply with a comprehensive set of policies and procedures which include a code of ethics, personal and insider trading, and trade allocation. D. Other Business Activities Not applicable Additional Compensation Item 5 Not applicable Supervision Item 6 Tim Stevens, Chief Compliance Officer of ALT, is responsible for supervising Roland A. Jacobus. Mr. Jacobus is required to comply with all of the compliance policies and procedures adopted by ASA Managed Account Managers LLC and Relying Advisers including its code of ethics, personal and insider trading policy, and trade allocation policy. Mr. Jacobus’ supervisor is available at (952) 847-2460. 4  ASA MANAGED ACCOUNT MANAGERS LLC and ASA Tax Advantaged Advisors LLC and TF Managers LLC (Relying Advisers) March 28, 2025 FORM ADV BROCHURE SUPPLEMENT PART 2B Cover Page Item 1 Supervised Person: Investment Adviser: Address: Telephone Number: Timothy W. Stevens ASA Managed Account Managers LLC and Relying Advisers 600 Highway 169 South, Suite 1735 Minneapolis, MN 55426 952-847-2450 This brochure supplement provides information about Timothy W. Stevens that supplements the ASA Managed Account Managers LLC and Relying Advisers brochure. You should have received a copy of that brochure. Please contact Robert D. Albright Jr. at (952) 847-2450 if you did not receive ASA Managed Account Managers LLC and Relying Advisers’ brochure or if you have any questions about the contents of this supplement. Educational Background and Business Experience Item 2 Name: Year of Birth: Education: Timothy W. Stevens 1966 1989 Princeton University, B.A. Economics 1993 New York University, M.B.A. Finance Business Background: 1989 – 1993 1993 – 1997 1997 – 2002 2003 – 2004 2013 – 2016 2013 – 2018 2017 – 2019 2005 – Present 2013 – Present 2013 – Present Senior Staff Auditor, Price Waterhouse Assistant Vice President – Product Control Manager, Lehman Brothers Director of Finance and Consultant, Jeffrey Slocum and Associates, Inc. Chief Financial Officer/Compliance Officer, Highbar Capital Management LLC Managing Member, ASA Convergence Partners LLC Managing Member, Enhanced Municipal Managers LLC Managing Member, ASA Tax Advantaged Advisors LLC Chief Financial Officer/Chief Compliance Officer/Managing Member, Alternative Strategy Adviser LLC Managing Member, ASA Managed Account Managers LLC Managing Member, TF Managers LLC Disciplinary Information Item 3 Not applicable (Continued on page 6) 5  ASA MANAGED ACCOUNT MANAGERS LLC and ASA Tax Advantaged Advisors LLC and TF Managers LLC (Relying Advisers) March 28, 2025 FORM ADV BROCHURE SUPPLEMENT PART 2B Other Business Activities Investment Related Activities Item 4 A. B. Timothy W. Stevens is the Chief Financial Officer, Chief Compliance Officer and Managing Member of Alternative Strategy Advisers LLC (“ALT”), a firm offering investment opportunities to individuals and institutions through multiple investment entities for which it provides administrative and support services. ALT is affiliated with and the following entities through direct ownership or common control: Occum Partners LLC - Business involved in real estate acquisition and financing. Mr. Stevens does not have ownership control in Occum Partners LLC and is not compensated by them in any way. Each supervised person is required to understand and comply with a comprehensive set of policies and procedures which include a code of ethics, personal and insider trading, and trade allocation. C. Other Business Activities Not applicable Additional Compensation Item 5 Not applicable Supervision Item 6 Robert D. Albright Jr., Managing Member and Secretary of ALT, is responsible for supervising Timothy W. Stevens. Mr. Stevens is required to comply with all of the compliance policies and procedures adopted by ASA Managed Account Managers LLC and Relying Advisers including its code of ethics, personal and insider trading policy, and trade allocation policy. Mr. Stevens’ supervisor is available at (952) 847-2450. 6  ASA MANAGED ACCOUNT MANAGERS LLC and ASA Tax Advantaged Advisors LLC and TF Managers LLC (Relying Advisers) March 28, 2025 FORM ADV BROCHURE SUPPLEMENT PART 2B Cover Page Item 1 Supervised Person: Investment Adviser: Address: Telephone Number: Susan P. Peters ASA Managed Account Managers LLC and Relying Advisers 600 Highway 169 South, Suite 1735 Minneapolis, MN 55426 952-847-2450 This brochure supplement provides information about Susan P. Peters that supplements the ASA Managed Account Managers LLC and Relying Advisers brochure. You should have received a copy of that brochure. Please contact Tim Stevens at (952) 847-2460 if you did not receive ASA Managed Account Managers LLC and Relying Advisers’ brochure or if you have any questions about the contents of this supplement. Educational Background and Business Experience Item 2 Name: Year of Birth: Education: Susan P. Peters 1983 2004 University of Minnesota, B.S. Computer Science 2014 University of Minnesota, M.S. Financial Mathematics Business Background: 2004 – 2014 2015 – 2016 2015 – 2018 2017 – 2019 2015 – Present 2015 – Present 2015 – Present Fixed Income Architect/Operations Analyst, Alternative Strategy Adviser LLC Managing Member, ASA Convergence Partners LLC Managing Member, Enhanced Municipal Managers LLC Managing Member, ASA Tax Advantaged Advisors LLC Chief Technology Officer/Managing Member, Alternative Strategy Adviser LLC Managing Member, ASA Managed Account Managers LLC Managing Member, TF Managers LLC Disciplinary Information Item 3 Not applicable (Continued on page 8) 7  ASA MANAGED ACCOUNT MANAGERS LLC and ASA Tax Advantaged Advisors LLC and TF Managers LLC (Relying Advisers) March 28, 2025 FORM ADV BROCHURE SUPPLEMENT PART 2B Other Business Activities Item 4 D. Investment Related Activities Susan P. Peters is a Managing Member of Alternative Strategy Advisers LLC (“ALT”), a firm offering investment opportunities to individuals and institutions through multiple investment entities for which it provides administrative and support services. ALT is affiliated with and the following entities through direct ownership or common control: Occum Partners LLC - Business involved in real estate acquisition and financing. Ms. Peters does not have ownership control in Occum Partners LLC and is not compensated by them in any way. Each supervised person is required to understand and comply with a comprehensive set of policies and procedures which include a code of ethics, personal and insider trading, and trade allocation. E. Other Business Activities Not applicable Additional Compensation Item 5 Not applicable Supervision Item 6 Tim Stevens, Chief Compliance Officer of ALT, is responsible for supervising Susan P. Peters. Ms. Peters is required to comply with all of the compliance policies and procedures adopted by ASA Managed Account Managers LLC and Relying Advisers including its code of ethics, personal and insider trading policy, and trade allocation policy. Ms. Peters’ supervisor is available at (952) 847-2460. 8