REDBUD ADVISORS

Form ADV Part 2A Brochure MARCH 23, 2026 Redbud Advisors, LLC d/b/a: Redbud Advisors 706 Guadalupe Street Austin, TX 78701 512- 222 - 6968 redbudadvisorsatx.com This brochure provides information about the qualifications and business practices of Redbud Ad vis o rs . If yo u ha ve a ny q ue s tio ns a b o ut the c o nte nts o f this b ro c hure , c o nta c t us a t 512 - 2 2 2- 6 9 6 8 . The info rma tio n in this b ro c hure ha s no t b e e n a p p ro ve d o r ve rifie d b y the Unite d Sta te s Se c uritie s a nd Exc ha ng e Co mmis s io n o r b y a ny s ta te s e c uritie s a utho rity. Ad d itio na l info rma tio n a b o ut Re d b ud Ad vis o rs is a va ila b le o n the SEC' s we b s ite a t www.a d vis e rinfo .s e c .g o v. The firm' s s e a rc ha b le CRD/IARD numb e r is 3 0 0 4 77. Re d b ud Ad vis o rs is a re g is te re d inve s tme nt a d vis e r. Re g is tra tio n with the Unite d Sta te s Se c uritie s a nd Exc ha ng e Co mmis s io n o r a ny s ta te s e c uritie s a utho rity d o e s no t imp ly a c e rta in le ve l o f s kill o r tra ining .  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 2: Summary of Material Changes Fo rm ADV Pa rt 2 re q uire s re g is te re d inve s tm e nt a d vis e rs to a me nd the ir b ro c hure whe n info rma tio n b e c o me s ma te ria lly ina c c ura te . If the re a re a ny ma te ria l c ha ng e s to a n a d vis e r' s d is c lo s ure b ro c hure , the a d vis e r is re q uire d to no tify you a nd p ro vid e yo u with a d e s c rip tio n o f the ma te ria l c ha ng e s . The ma te ria l c ha ng e s in this b ro c hure fro m the la s t a nnua l up d a ting a me nd me nt o f Re d b ud Ad vis o rs o n 0 1/2 4 /2 5 a re d e s c rib e d b e lo w. M a te ria l c ha ng e s re la te to Re d b ud Ad vis o rs ’ p o lic ie s , p ra c tic e s , o r c o nflic ts o f inte re s ts . ● Up d a te d Co nflic t o f Inte re s t Dis c lo s ure (Ite m 10 – Othe r Fina nc ia l Ind us try Ac tivitie s a nd Affilia tio ns ): We ha ve e nha nc e d o ur d is c lo s ure re g a rd ing o ur a d vis o ry re la tio ns hip s with the o wne rs a nd /o r p rinc ip a ls o f una ffilia te d inve s tme nt firms tha t o ffe r p o o le d inve s tme nt ve hic le s . The up d a te d d is c lo s ure c la rifie s tha t a c o nflic t o f inte re s t e xis ts b e c a us e the s e re la tio ns hip s ma y c re a te a n inc e ntive fo r us to re c omme nd s uc h inve s tme nts . While we d o no t re c e ive c o mp e ns a tio n fro m the s e firms o r the ir p rinc ip a ls fo r c lie nt inve s tme nts , we ha ve e xp a nd e d o ur d is c us s io n o f this p o te ntia l c o nflic t a nd the s te p s we ta ke to a d d re s s it, inc lud ing a d he re nc e to o ur fid uc ia ry d uty, c o nd uc ting d ue d ilig e nc e , a nd ma king re c o mme nd a tio ns o nly whe n we b e lie ve the y a re in the c lie nt’s b e s t inte re s t. Clie nts re ma in und e r no o b lig a tio n to inve s t in a ny p riva te fund . No o the r ma te ria l c ha ng e s ha ve b e e n ma d e to this b ro c hure s inc e o ur la s t a nnua l up d a te . 2  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 3: Table of Contents Ite m 1: Co ve r Pa g e ………………………………………………………………………………………………………….. 1 Ite m 2 : Summa ry o f Ma te ria l Cha ng e s ................................................................................................. 2 Ite m 3 : Ta b le o f Co nte nts ..................................................................................................................... 3 Ite m 4 : Ad vis o ry Bus ine s s .................................................................................................................... 4 Ite m 5: Fe e s a nd Co mp e ns a tio n ........................................................................................................... 7 Ite m 6 : Pe rfo rma nc e - Ba s e d Fe e s a nd Sid e - By- Sid e Ma na g e me nt ................................................... 11 Ite m 7: Typ e s o f Clie nts ...................................................................................................................... 12 Ite m 8 : Me tho d s o f Ana lys is , Inve s tme nt Stra te g ie s a nd Ris k o f Lo s s .............................................. 13 Ite m 9 : Dis c ip lina ry Info rma tio n .......................................................................................................... 18 Ite m 10 : Othe r Fina nc ia l Ind us try Ac tivitie s a nd Affilia tio ns ............................................................... 19 Ite m 11: Co d e o f Ethic s , Pa rtic ip a tio n o r Inte re s t in Clie nt Tra ns a c tio ns a nd Pe rs o na l Tra d ing ....... 2 1 Ite m 12 : Bro ke ra g e Pra c tic e s .............................................................................................................. 2 3 Ite m 13 : Re vie w o f Ac c o unts .............................................................................................................. 2 5 Ite m 14 : Clie nt Re fe rra ls a nd Othe r Co mp e ns a tio n ............................................................................ 2 6 Ite m 15: Cus to d y ................................................................................................................................. 2 8 Ite m 16 : Inve s tme nt Dis c re tio n ........................................................................................................... 2 9 Ite m 17: Vo ting Clie nt Se c uritie s ........................................................................................................ 3 0 Ite m 18 : Fina nc ia l Info rma tio n ............................................................................................................. 3 1 3  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 4: Advisory Business Description of Firm Re d b ud Ad vis o rs LLC d /b /a Re d b ud Ad vis o rs is a re g is te re d inve s tme nt a d vis e r b a s e d in Aus tin, Te xa s . We a re o rg a niz e d a s a limite d lia b ility c o mp a ny ("LLC") und e r the la ws of the Sta te o f Te xa s . We ha ve b e e n p ro vid ing inve s tme nt a d vis o ry s e rvic e s s inc e Ma rc h 2 0 19 . We a re owne d b y Ad a m Bo yd Re inking a nd Rya n Chris to p he r Wa lke r. The fo llo wing p a ra g ra p hs d e s c rib e o ur s e rvic e s a nd fe e s . Re fe r to the d e s c rip tio n o f e a c h inve s tme nt a d vis o ry s e rvic e lis te d b e lo w fo r info rma tio n o n ho w we ta ilo r o ur a d vis o ry s e rvic e s to yo ur ind ivid ua l ne e d s . As us e d in this b ro c hure , the wo rd s "we ," "o ur," a nd "us " re fe r to Re d b ud Ad vis o rs a nd the wo rd s "yo u," "yo ur," a nd "c lie nt" re fe r to yo u a s e ithe r a c lie nt or p ro s p e c tive c lie nt o f our firm. Investment Management Services Clie nts ma y e ng a g e Re d b ud Ad vis o rs to e ffe c t tra ns a c tio ns within the ir inve s tm e nt p o rtfo lio s o n a d is c re tio na ry o r no n- d is c re tio na ry b a s is , o n a s ta nd a lo ne b a s is , o r a s p a rt o f a we a lth a d vis o ry o ve rs ig ht o ffe ring via a we a lth ma na g e me nt a g re e me nt. The Firm will typ ic a lly a s s is t c lie nts in d e te rmining the ir inve s tme nt o b je c tive s , ris k to le ra nc e , a nd c a s h flo w ne e d s , whic h a re d o c ume nte d in a n Inve s tme nt Po lic y Sta te me nt a nd re vie we d p e rio d ic a lly. All p o rtfo lio s a re c us to miz e d fo r e a c h inve s to r; a lb e it fo c us e d o n p la nning firs t a nd p a s s ive (ind e x) inve s ting to a ffe c t the p la n. The d e te rmina tio n o f a n a p p ro p ria te p o rtfo lio fo r e a c h c lie nt is a func tio n o f c urre nt a nd future c a s h flo w ne e d s , ris k to le ra nc e , time ho riz o n, te rmina l va lue (we a lth tra ns fe r) g o a ls , a nd mo d e le d re turns . Re d b ud Ad vis o rs ’ ta rg e t c lie nte le a re ta xa b le inve s to rs , the re b y ma king ta x e ffic ie nc y a c ritic a l c o mp o ne nt o f the p o rtfo lio c o ns truc tio n p ro c e s s . The Firm e mp lo ys a p ro a c tive us e o f a s s e t lo c a tio n – s e e king to p la c e a s s e ts in the o p tim a l lo c a tio n to minimiz e inc o me ta x imp lic a tio ns a nd /o r ma ximiz e e s ta te ta x e ffe c tive ne s s . Re d b ud Ad vis o rs p rim a rily a llo c a te s c lie nt a s s e ts a mo ng va rio us inve s tme nt s tra te g ie s , with a s tro ng b ia s fo r lo w- fe e , ta x a d va nta g e d inve s tme nts typ ic a lly e mb o d ie d thro ug h a p a s s ive a p p ro a c h to the ma rke ts . Ho we ve r, whe re c e rta in ine ffic ie nc ie s p re s e nt the ms e lve s o r the Firm b e lie ve s tha t a ma na g e r ha s a n unus ua l a d va nta g e in a ma rke tp la c e , Re d b ud Ad vis o rs m a y s ug g e s t a nd e mp lo y o the r s tra te g ie s . Whe re a p p ro p ria te , the s e s tra te g ie s inc lud e the us e o f ind e p e nd e nt inve s tme nt ma na g e rs (“Ind e p e nd e nt Ma na g e rs ”), mutua l fund s , e xc ha ng e - tra d e d fund s (“ETFs ”), o r o the r lis te d s e c uritie s , in a c c o rd a nc e with the inve s tme nt o b je c tive s o f its ind ivid ua l c lie nts . In a d d itio n, whe re a p p ro p ria te , Re d b ud Ad vis o rs a ls o re c o mme nd s tha t q ua lifying c lie nts inve s t in p riva te ly p la c e d s e c uritie s , whic h ma y inc lud e d e b t, e q uity, a nd /o r inte re s ts in unre g is te re d , p o o le d inve s tme nt ve hic le s (e .g ., he d g e fund s ). Whe re a p p ro p ria te , the Firm a ls o p ro vid e s a d vic e a b o ut c lie nt- s e le c te d s e c uritie s , le g a c y p o s itio ns , o r othe r inve s tme nts he ld in c lie nt p o rtfo lio s . Re d b ud Ad vis o rs ta ilo rs its a d vis ory s e rvic e s to me e t the ne e d s o f its ind ivid ua l c lie nts a nd 4  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE folios. Clients may impose reasonable restrictions continuously seeks to ensure that client portfolios are managed in a manner consistent with their specific investment profiles. Redbud Advisors consults with clients on an initial and ongoing basis to determine their specific risk tolerance, time horizon, liquidity constraints, and other qualitative factors relevant to the management of their portfolios. Clients are advised to promptly notify Redbud Advisors if there are changes in their financial situation or if they wish to place any limitations on the management of their port or mandates on the management of their accounts if Redbud Advisors determines, in its sole discretion, the conditions would not materially impact the performance of a management strategy or prove overly bu rdensome to the Firm’s management efforts. Selection of Other Advisers We ma y re c o mme nd tha t yo u us e the s e rvic e s o f a third - p a rty mo ne y ma na g e r ("TPMM") to ma na g e a ll, o r a p o rtion o f, yo ur inve s tme nt p o rtfo lio . Afte r g a the ring info rma tio n a b o ut yo ur fina nc ia l s itua tio n a nd o b je c tive s , we ma y re c o mme nd tha t yo u e ng a g e a s p e c ific TPMM o r inve s tme nt p ro g ra m. Fa c to rs tha t we ta ke into c o ns id e ra tio n whe n ma king o ur re c o mme nd a tio n(s ) inc lud e , b ut a re no t limite d to , the fo llo wing : the TPMM' s p e rfo rma nc e , me tho d s o f a na lys is , fe e s , yo ur fina nc ia l ne e d s , inve s tme nt g o a ls , ris k to le ra nc e , a nd inve s tme nt o b je c tive s . We will mo nito r the TPMM(s )' p e rfo rma nc e to e ns ure its ma na g e me nt a nd inve s tme nt s tyle re ma ins a lig ne d with yo ur inve s tme nt g o a ls a nd o b je c tive s . The TPMM(s ) will a c tive ly ma na g e yo ur p o rtfolio a nd will a s s ume d is c re tio na ry inve s tme nt a utho rity o ve r yo ur a c c o unt. We will a s s ume d is c re tio na ry a utho rity to hire a nd fire TPMM(s ) a nd /o r re a llo c a te yo ur a s s e ts to o the r TPMM(s ) whe re we d e e m s uc h a c tio n a p p ro p ria te . Wealth Advisory Oversight Services Re d b ud Ad vis o rs b e lie ve s e ffe c tive we a lth p la nning is jus t a s imp o rta nt a s a s s e t ma na g e m e nt. Ac c o rd ing ly, in a d d itio n to its inve s tme nt a d vis o ry o ffe ring , whe re a p p ro p ria te , Re d b ud Ad vis o rs a ls o p ro vid e s c lie nts with inte g ra te d we a lth a d vis o ry o ve rs ig ht s ervic e s , whic h c a n inc lud e g e ne ra l o ve rs ig ht a nd g uid a nc e o n a ny o r a ll o f the fo llo wing s e rvic e s , a mo ng o the rs : ● Ge ne ra l Fina nc ia l Ove rs ig ht ● Ins ura nc e Re vie w ● We a lth Tra ns fe r a nd Es ta te Pla nning ● Inve s tme nt Pla nning ● Trus t Ad vis o ry Se rvic e s ● Co nc e ntra te d We a lth Stra te g ie s ● Fa mily Go ve rna nc e ● Inve s tme nt Ma na g e me nt ● Phila nthro p y In p e rfo rming the s e s e rvic e s , Re d b ud Ad vis o rs is no t re q uire d to ve rify a ny info rma tio n re c e ive d fro m the c lie nt o r fro m the c lie nt’s o the r p ro fe s s io na ls (e .g ., a tto rne ys , a c c o unta nts , e tc .) a nd is e xp re s s ly a utho riz e d to re ly o n s uc h info rma tio n. Re d b ud Ad vis o rs re c omme nd s the s e rvic e s o f its e lf o r o the r p ro fe s s io na ls to imp le me nt its 5  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE implementation and are under no ts are advised that it remains their recommendations. Clients are advised that a conflict of interest exists if clients engage Redbud - based services (e.g. custom reporting, or special projects). Advisors to provide additional fee Clients retain absolute discretion over all decisions regarding obligation to act upon any of the recommendations made by Redbud Advisors under a wealth advisory oversight engagement or to engage the services of any such recommended professionals, including Redbud Advisors itself. Clien responsibility to promptly notify the Firm of any change in their financial situation or investment objectives for the purpose of reviewing, evaluating, or revising Redbud Advisors’ previous recommendations and/or services. Pooled Investment Vehicles The Princ ip a ls o f Re d b ud Ad vis o rs will o c c a s io na lly inve s t in re a l e s ta te p ro je c ts a nd ma y p o te ntia lly o ffe r inve s tme nt o p p o rtunitie s in the s e p ro je c ts to c lie nts a nd no n- c lie nts . Ea c h p ro je c t will b e o wne d b y a s ing le - p urp o s e e ntity. Our a d vis o ry s e rvic e s a re s e p a ra te a nd d is tinc t fro m the c omp e ns a tio n p a id to o ur a ffilia te fo r the ir s e rvic e s . Re d b ud Ad vis o rs d o e s no t p ro vid e a d vis o ry s e rvic e s to Aus tin De v- 1, LLC, J a c kie Ro b ins o n Ho me s , LLC, Ra b b a nd Sto b a ug h, LLC, Az ie Mo rto n Ho me s , LP a nd 3 3 0 8 Bo wma n, LLC (the "Fund s "), p riva te p o o le d inve s tme nt ve hic le s in whic h yo u ma y b e s o lic ite d to inve st. The Fund s a re o ffe re d to c e rta in s o p his tic a te d inve s to rs , who me e t c e rta in re q uire me nts und e r a p p lic a b le s ta te a nd /o r fe d e ra l s e c uritie s la ws . Inve s to rs to who m the Fund is o ffe re d will re c e ive a p riva te p la c e me nt me mo ra nd um a nd o the r o ffe ring d o c ume nts . Wrap Fee Programs We d o no t p a rtic ip a te in a ny wra p fe e p ro g ra m. Types of Investments We p rima rily o ffe r a d vic e o n e xc ha ng e tra d e d fund s ("ETFs ") a nd mutua l fund s . Re fe r to the Me tho d s o f Ana lys is , Inve s tme nt Stra te g ie s a nd Ris k o f Lo s s b e lo w fo r a d d itio na l d is c lo s ure s o n this to p ic . Ad d itio na lly, we ma y a d vis e yo u o n va rio us typ e s o f inve s tme nts b a s e d o n yo ur s ta te d g oa ls a nd o b je c tive s . We ma y a ls o p ro vid e a d vic e o n a ny typ e o f inve s tme nt he ld in yo ur p o rtfo lio a t the inc e p tio n o f o ur a d vis o ry re la tio ns hip . Assets Under Management As o f De c e mb e r 3 1, 2 0 2 5, we p ro vid e c o ntinuo us ma na g e me nt s e rvic e s fo r $ 3 6 7,79 0 ,4 0 1 in c lie nt a s s e ts ma na g e d o n a d is c re tio na ry b a s is o nly. 6  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 5: Fees and Compensation De p e nd ing o n the a rra ng e me nts ma d e a t the inc e p tio n o f the e ng a g e me nt, Re d b ud Ad vis o rs ma y c ha rg e e ithe r a fixe d fe e o r a fe e b a s e d o n a s s e ts und e r ma na g e me nt fo r we a lth ma na g e me nt s e rvic e s . Fe e s a re ne g o tia b le fo r fina nc ia l p la nning a nd e s ta te p la nning c lie nts . Fees Fo r s ta nd a lo ne inve s tme nt ma na g e me nt s e rvic e s , the Firm g e ne ra lly c ha rg e s nine ty- five (9 5) b a s is p o ints b a s e d o n the ma rke t va lue o f the a s s e ts b e ing ma na g e d b y the Firm, a ltho ug h tha t a mo unt ma y b e hig he r o r lo we r d e p e nd ing o n va rio us c irc ums ta nc e s . We a lth a d vis o ry o ve rs ig ht s e rvic e s a re g e ne ra lly p ro vid e d fo r a fixe d fe e , b a s e d o n the s c o p e a nd c o mp le xity o f the a g re e d up o n s e rvic e s . The s e fe e s a re a t the s o le d is c re tio n o f Firm ma na g e me nt. The a nnua l fe e fo r Re d b ud Ad vis o rs ’ s e rvic e s is p ro ra te d a nd c ha rg e d p ro s p e c tive ly o n a q ua rte rly b a s is . In the e ve nt the Ag re e me nt is te rmina te d , the fe e fo r the fina l b illing p e rio d is p ro ra te d thro ug h the e ffe c tive d a te o f the te rmina tio n a nd the o uts ta nd ing b a la nc e is c ha rg e d to the c lie nt, a s a p p ro p ria te , o r a ny p ro s p e c tive p a yme nt in e xc e s s of the p ro ra te d p o rtio n is c re d ite d to the c lie nt’s a c c o unt. Fee Discretion Re d b ud Ad vis o rs , in its s o le d is c re tio n, ma y ne g o tia te to c ha rg e a g re a te r o r le s s e r fe e b a s e d up o n c e rta in c rite ria , s uc h a s the c o mp le xity o f the c lie nt’s p o rtfo lio , the le ve l of e xp e rtis e re q uire d to s e rvic e the a c c o unt, the s ta ff time invo lve d in s e rvic ing the a c c o unt, p o te ntia l va lue a d d e d to the c lie nt fo r the s e rvic e s to b e p ro vid e d , p re- e xis ting c lie nt re la tio ns hip s , a ntic ip a te d future a d d itio na l a s s e ts , d o lla r a mo unt o f a s s e ts to b e ma na g e d , a c c ount re te ntio n a nd p ro b o no a c tivitie s a mo ng o the r fa c to rs . Re la te d c lie nt a c c o unts ma y b e a g g re g a te d fo r p urp o s e s o f c a lc ula ting fe e s . Re d b ud Ad vis o rs ma y wa ive its a d vis o ry fe e a t a ny time whe n it d e e ms it a p p ro p ria te a nd /o r ne c e s s a ry. In the e ve nt we c ha rg e a fixe d fe e fo r we a lth a d vis o ry o ve rs ig ht s e rvic e s , o ur a nnua l fe e (“We a lth Ad vis o ry Ove rs ig ht Fe e ”) will b e p ro ra te d a nd b ille d in a d va nc e o n a q ua rte rly b a s is . The a mo unt o f the We a lth Ad vis o ry Ove rs ig ht Fe e is a q ua rte rly fixe d fee , g e ne ra lly ra ng ing fro m $ 1 - $ 2 50 ,0 0 0 p e r ye a r, whic h will inc re a s e b y 3 % a nnua lly. Suc h fe e s c o uld p o te ntia lly b e in e xc e s s of the ind us try no rm. Simila r a d vis o ry s e rvic e s c a n b e ob ta ine d fo r le s s . A fixe d fe e is typ ic a lly utiliz e d und e r o ne o r mo re o f the fo llo wing s itua tio ns : ● Clie nt a s s e ts und e r ma na g e me nt e xc e e d $ 10 millio n fo r the ho us e ho ld . ● Clie nt d e s ire s we a lth a d vis o ry o ve rs ig ht s e rvic e s witho ut the a b ility to ha ve a s s e ts und e r ma na g e me nt (fo r e xa mp le , a c lie nt with the b ulk o f the ir ne t wo rth inve s te d in the ir 4 0 1(k), re s tric te d s to c k, p riva te b us ine s s , re a l e s ta te , a nd /o r o the r a s s e ts whic h a re una b le to b e 7  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE managed in a liquid portfolio). ● Clie nt ha s s e ve ra l e xte rna l a nd c o mp e ting inve s tme nt a d vis o rs a nd wis he s to le ve ra g e us to c o ns o lid a te re p o rting a nd c o o rd ina tio n o f e a c h inve s tme nt ma na g e rs ’ s tra te g y s o tha t c lie nt is we ll p o s itio ne d in a g g re g a te to a c c o mp lis h the ir g o a ls . We will no t ha ve AUM und e r this c irc ums ta nc e , ye t we a lth a d vis o ry o ve rs ig ht is s o ug ht o ut b y the c lie nt. A fe e b a s e d o n a s s e ts und e r ma na g e me nt (AUM) is typ ic a lly utiliz e d und e r o ne o r mo re of the fo llo wing s itua tio ns : ● Clie nt a s s e ts und e r ma na g e me nt a re le s s tha n $ 10 millio n fo r the ho us e ho ld . ● Clie nt ha s minima l a s s e ts o the r tha n the ir a s s e ts und e r ma na g e me nt a nd ho m e s te a d . Po te ntia l c lie nts tha t wo uld b e c ha rg e d a fixe d fe e to wa rd s the up p e r limit o f $ 2 50 ,0 0 0 a re typ ic a lly ultra - hig h ne t wo rth fa milie s with a ne t wo rth o f $ 50 m illio n - $ 3 0 0 m illio n. The na ture o f s e rvic e s a ntic ip a te d fo r a c lie nt p a ying $ 2 50 ,0 0 0 a nnua lly wo uld like ly inc lud e s o me o r a ll o f the fo llo wing s e rvic e s : ● Inve s tme nt ma na g e me nt o f ho us e ho ld AUM g re a te r tha n $ 10 millio n ● Pe rfo rma nc e re p o rting o n multip le e xte rna l illiq uid a lte rna tive inve s tme nts o r liq uid inve s tme nts a nd tra c king o f c a p ita l c a lls , liq uid ity, a nd o the r me tric s imp o rta nt to the c lie nt. ● We a lth Ad vis o ry Ove rs ig ht s e rvic e s to multip le nuc le a r fa milie s , e a c h re q uiring the ir o wn s tra te g ie s , me e ting s , a nd re p o rts . Fo r e xa mp le , a fa mily with 3 living g e ne ra tio ns , e a c h o f whic h a re ultra - hig h ne t wo rth a nd ha ve o wne rs hip in s ha re d a s s e ts . ● Sig nific a nt p la nning ne e d s , inc lud ing b ut no t limite d to : ○ Ge ne ra l Fina nc ia l Ove rs ig ht ○ Ins ura nc e Re vie w ○ We a lth Tra ns fe r a nd Es ta te Pla nning ○ Inve s tme nt Pla nning ○ Trus t Ad vis o ry Se rvic e s ○ Co nc e ntra te d We a lth Stra te g ie s ○ Fa mily Go ve rna nc e ○ Inve s tme nt Ma na g e me nt ○ Phila nthro p y We d o no t re q uire p re p a yme nt o f fe e s mo re tha n s ix mo nths in a d va nc e a nd in e xc e s s o f $ 50 0 . Clie nts ma y ma ke a d d itio ns to a nd withd ra wa ls fro m the ir a c c o unt a t a ny time , s ub je c t to Re d b ud Ad vis o rs ' rig ht to te rmina te a n a c c o unt. Ad d itio ns ma y b e in c a s h o r s e c uritie s p ro vid e d tha t the Firm re s e rve s the rig ht to liq uid a te a ny tra ns fe rre d s e c urities o r d e c line to a c c e p t p a rtic ula r s e c uritie s into a c lie nt’s a c c o unt. Clie nts ma y withd ra w a c c o unt a s s e ts o n no tic e to Re d b ud Ad vis o rs , s ub je c t to the us ua l a nd c us to ma ry s e c uritie s s e ttle me nt p ro c e d ure s . Ho we ve r, Re d b ud Ad vis o rs g e ne ra lly d e s ig ns its p o rtfo lio s a s lo ng - te rm inve s tme nts a nd the withd ra wa l o f a s s e ts ma y imp a ir the a c hie ve me nt o f a c lie nt’s inve s tme nt o b je c tive s . Re d b ud Ad vis o rs will c o ns ult with its c lie nts a b o ut the o p tio ns a nd imp lic a tio ns o f tra ns fe rring s e c uritie s 8  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE as necessary. Clients are advised that when transferred securities are liquidated, they may be subject to transaction fees, fees assessed at the mutual fund level (i.e., contingent deferred sales charge) and/or tax ramifications. nd statements to clients not less ectly from your account through the qualified custodian Clients generally provide Redbud Advisors and/or the Independent Managers with the authority to directly debit their accounts for payment of our advisory fees. The Financial Institutions that act as qualified custodian for client accounts have agreed to se than quarterly detailing all account transactions, including any amounts paid to Redbud Advisors. Alternatively, clients may elect to have Redbud Advisors send them an invoice for direct payment. We will deduct our fee dir holding your funds and securities. We will deduct our advisory fee only when the following requirements are met: ● Yo u p ro vid e o ur firm with writte n a utho riz a tio n p e rmitting the fe e s to b e p a id d ire c tly fro m yo ur a c c o unt he ld b y the q ua lifie d c us to d ia n. ● We s e nd yo u a n invo ic e s ho wing the a mo unt o f the fe e , the va lue o f the a s s e ts o n whic h the fe e is b a s e d , the time p e rio d c o ve re d b y the fe e , a nd the s p e c ific ma nne r in whic h the fe e wa s c a lc ula te d . ● The q ua lifie d c us to d ia n a g re e s to s e nd yo u a s ta te me nt, a t le a s t q ua rte rly, ind ic a ting a ll a mo unts d is b urs e d fro m yo ur a c c o unt inc lud ing the a mo unt o f the a d vis o ry fe e p a id d ire c tly to o ur firm. We e nc o ura g e yo u to re c o nc ile o ur invo ic e s with the s ta te me nt(s ) yo u re c e ive fro m the q ua lifie d c us to d ia n. If yo u find a ny inc o ns is te nt info rm a tio n b e twe e n o ur invo ic e a nd the s ta te me nt(s ) yo u re c e ive from the q ua lifie d c us to d ia n, c a ll o ur ma in o ffic e num b e r lo c a te d o n the c o ve r p a g e o f this b ro c hure . Whe re a p p ro p ria te , Re d b ud Ad vis o rs is a utho riz e d to us e ma rg in in the ma na g e me nt o f the c lie nt’s inve s tme nt p o rtfo lio . In the s e c a s e s , the fe e p a ya b le will b e a s s e s s e d g ro s s o f ma rg in s uc h tha t the ma rke t va lue o f the c lie nt’s a c c ount a nd c o rre s p o nd ing fe e p a ya b le b y the c lie nt to Re d b ud Ad vis o rs will b e inc re a s e d . In the e ve nt the we a lth ma na g e me nt a g re e me nt is te rmina te d , the fe e fo r the fina l b illing p e rio d is p ro ra te d thro ug h the e ffe c tive d a te o f the te rmina tio n a nd the o uts ta nd ing b a la nc e is c ha rg e d to the c lie nt, a s a p p ro p ria te , o r a ny p ro s p e c tive p a yme nt is exc e s s of the p ro ra te d p o rtio n is c re d ite d to the c lie nt' s a c c o unt. The c lie nt m a y te rmina te the we a lth ma na g e m e nt a g re e me nt up o n 3 0 d a ys writte n no tic e . Selection of Other Advisers Our re c o mme nd a tio ns to us e third p a rty mo ne y ma na g e rs a re inc lud e d in o ur we a lth ma na g e me nt fe e . We d o no t c ha rg e yo u a s e p a ra te fe e fo r the s e le c tio n o f o the r a d vis e rs no r will we s ha re in the a d vis o ry fe e you p a y d ire c tly to the TPMM. Ad vis o ry fe e s tha t yo u p a y to the TPMM a re e s ta b lis he d a nd p a ya b le in a c c o rd a nc e with the Fo rm ADV Pa rt 2 or o the r e q uiva le nt d is c lo s ure d o c ume nt p ro vid e d b y e a c h TPMM to who m yo u a re re fe rre d . The s e fe e s ma y o r ma y no t b e ne g o tia b le . Yo u s ho uld re vie w the re c o mme nd e d TPMM' s b ro c hure fo r info rma tio n o n its fe e s a nd s e rvic e s . Yo u ma y b e re q uire d to s ig n a n a g re e me nt d ire c tly with the re c o mme nd e d TPMM(s ). Yo u ma y 9  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE eive a refund, if terminate your advisory relationship with the TPMM according to the terms of your agreement with the TPMM. You should review each TPMM's brochure for specific information on how you may terminate your advisory relationship with the TPMM and how you may rec applicable. You should contact the TPMM directly for questions regarding your advisory agreement with the TPMM Additional Fees and Expenses In a d d itio n to the a d vis o ry fe e s p a id to Re d b ud Ad vis o rs , c lie nts b e a r c e rta in c ha rg e s tha t a re imp o s e d b y o the r third p a rtie s , s uc h a s b ro ke r- d e a le rs , c us to d ia ns , trus t c o mp a nie s , b a nks , a nd o the r fina nc ia l ins titutio ns (c o lle c tive ly “Fina nc ia l Ins titutio ns ”). The s e a d d itio na l c ha rg e s ma y inc lud e s e c uritie s b ro ke ra g e c o mmis s io ns , tra ns a c tio n fe e s , c us to d ia l fe e s , fe e s c ha rg e d b y the Ind e p e nd e nt Ma na g e rs , c ha rg e s imp o s e d d ire c tly b y a mutua l fund o r e xc ha ng e tra d e d fund s ("ETFs ") in a c lie nt’s a c c o unt, a s d is c lo s e d in the fund ’s p ro s p e c tus (e .g ., fund ma na g e me nt fe e s a nd o the r fund e xp e ns e s ), ma rg in c o s ts , re p o rting c ha rg e s , d e fe rre d s a le s c ha rg e s , od d - lo t d iffe re ntia ls , tra ns fe r ta xe s , wire tra ns fe r a nd e le c tro nic fund fe e s a nd o the r fe e s a nd ta xe s o n b ro ke ra g e a c c o unts a nd s e c uritie s tra ns a c tions . Fo r info rma tio n o n o ur b ro ke ra g e p ra c tic e s , re fe r to the Bro ke ra g e Pra c tic e s s e c tio n o f this b ro c hure . 10  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 6: Performance-Based Fees and Side-By-Side Management We d o no t a c c e p t p e rfo rma nc e - b a s e d fe e s or p a rtic ip a te in s id e- b y- s id e ma na g e me nt. Pe rfo rma nc e - b a s e d fe e s a re fe e s tha t a re b a s e d o n a s ha re o f a c a p ita l g a ins o r c a p ita l a p p re c ia tio n o f a c lie nt' s a c c o unt. Sid e - b y- s id e ma na g e m e nt re fe rs to the p ra c tic e o f ma na g ing a c c o unts tha t a re c ha rg e d p e rfo rma nc e - b a s e d fe e s while a t the s a me time ma na g ing a c c o unts tha t a re no t c ha rg e d p e rfo rma nc e - b a s e d fe e s . Our fe e s a re c a lc ula te d a s d e s c rib e d in the Fe e s a nd Co mp e ns a tio n s e c tio n a b o ve , a nd a re no t c ha rg e d o n the b a s is o f a s ha re o f c a p ita l g a ins up o n, o r c a p ita l a p p re c ia tio n o f, the fund s in yo ur a d vis o ry a c c o unt. 11  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 7: Types of Clients We o ffe r inve s tme nt a d vis o ry s e rvic e s to ind ivid ua ls (o the r tha n hig h ne t wo rth ind ivid ua ls ) a nd hig h ne t wo rth ind ivid ua ls . In g e ne ra l, we d o no t re q uire a minim um d o lla r a mo unt to o p e n a nd ma inta in a n a d vis o ry a c c o unt; ho we ve r, we ha ve the rig ht to te rmina te yo ur a c c o unt if it fa lls b e lo w a minimum s iz e whic h, in o ur s o le o p inio n, is to o s ma ll to ma na g e e ffe c tive ly. We ma y a ls o c o mb ine a c c o unt va lue s fo r yo u a nd yo ur mino r c hild re n, jo int a c c o unts with yo ur s p o us e , a nd o the r typ e s o f re la te d a c c o unts to me e t the s ta te d minimum. 12  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 8: Methods of Analysis, Investment Strategies and Risk of Loss We ma y us e o ne o r mo re o f the fo llo wing m e tho d s o f a na lys is o r inve s tme nt s tra te g ie s whe n p ro vid ing inve s tme nt a d vic e to you: ● Fund a me nta l Ana lys is - invo lve s a na lyz ing ind ivid ua l c o mp a nie s a nd the ir ind us try g ro up s , s uc h a s a c o mp a ny' s fina nc ia l s ta te me nts , d e ta ils re g a rd ing the c o mp a ny' s p ro d uc t line , the e xp e rie nc e a nd e xp e rtis e o f the c o mp a ny' s ma na g e me nt, a nd the o utlo o k fo r the c o mp a ny a nd its ind us try. The re s ulting d a ta is us e d to me a s ure the true va lue o f the c o mp a ny' s s to c k c o mp a re d to the c urre nt ma rke t va lue Ris k: The ris k o f fund a me nta l a na lys is is tha t info rma tio n o b ta ine d m a y b e inc o rre c t a nd the a na lys is ma y no t p ro vid e a n a c c ura te e s tima te o f e a rning s , whic h ma y b e the b a s is fo r a s toc k' s va lue . If s e c uritie s p ric e s a d jus t ra p id ly to ne w info rma tio n, utiliz ing fund a me nta l a na lys is ma y no t re s ult in fa vo ra b le p e rfo rma nc e . ● Mo d e rn Po rtfo lio The o ry - a the o ry o f inve s tme nt whic h a tte mp ts to ma ximiz e p o rtfo lio e xp e c te d re turn fo r a g ive n a mo unt o f p o rtfo lio ris k, o r e q uiva le ntly minim iz e ris k fo r a g ive n le ve l o f e xp e c te d re turn, b y c a re fully d ive rs ifying the p ro p o rtio ns o f va rio us a s s e ts . Ris k: Ma rke t ris k is tha t p a rt o f a s e c urity' s ris k tha t is c ommo n to a ll s e c uritie s o f the s a me g e ne ra l c la s s (s to c ks a nd b o nd s ) a nd thus c a nno t b e e limina te d b y d ive rs ific a tio n. ● Lo ng - Te rm Purc ha s e s - s e c uritie s p urc ha s e d with the e xp e c ta tio n tha t the va lue o f tho s e s e c uritie s will g ro w o ve r a re la tive ly lo ng p e rio d o f time , g e ne ra lly g re a te r tha n o ne ye a r. Ris k: Us ing a lo ng - te rm p urc ha s e s tra te g y g e ne ra lly a s s ume s the fina nc ia l ma rke ts will g o up in the lo ng - te rm , whic h ma y no t b e the c a s e . The re is a ls o the ris k tha t the s e g me nt o f the ma rke t tha t yo u a re inve s te d in o r p e rha p s jus t yo ur p a rtic ula r inve s tme nt will g o d o wn o ve r time e ve n if the o ve ra ll fina nc ia l m a rke ts a d va nc e . Purc ha s ing inve s tme nts lo ng - te rm ma y c re a te a n o p p o rtunity c o s t - "lo c king - up " a s s e ts tha t ma y b e b e tte r utiliz e d in the s ho rt- te rm in o the r inve s tme nts . ● Ma rg in Tra ns a c tio ns - a s e c uritie s tra ns a c tio n in whic h a n inve s to r b o rro ws mo ne y to p urc ha s e a s e c urity, in whic h c a s e the s e c urity s e rve s a s c o lla te ra l o n the lo a n. Ris k: If the va lue o f the s ha re s d rop s s uffic ie ntly, the inve s to r will b e re q uire d to e ithe r d e p o s it mo re c a s h into the a c c o unt o r s e ll a p o rtio n o f the s to c k in ord e r to ma inta in the ma rg in re q uire me nts o f the a c c o unt. This is kno wn a s a "ma rg in c a ll." An inve s to r' s o ve ra ll ris k inc lud e s the a mo unt o f mo ne y inve s te d p lus the a mo unt tha t wa s loa ne d to the m. Our inve s tme nt s tra te g ie s a nd a d vic e ma y va ry d e p e nd ing up o n e a c h c lie nt' s s p e c ific fina nc ia l s itua tio n. As s uc h, we d e te rmine inve s tme nts a nd a llo c a tio ns b a s e d up o n yo ur p re d e fine d o b je c tive s , ris k to le ra nc e , time ho riz o n, fina nc ia l info rma tio n, liq uid ity ne e d s , a nd o the r va rio us s uita b ility fa c to rs . Yo ur re s tric tio ns a nd g uid e line s ma y a ffe c t the c omp o s itio n o f yo ur p o rtfo lio . It is imp o rta nt tha t yo u no tify us im me d ia te ly with re s p e c t to a ny ma te ria l c ha ng e s to yo ur fina nc ia l c irc ums ta nc e s , inc lud ing fo r e xa mp le , a c ha ng e in yo ur c urre nt o r e xp e c te d inc o me le ve l, ta x c irc ums ta nc e s , o r e mp lo yme nt s ta tus . 13  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE - party s and strategies developed by We will not perform quantitative or qualitative analysis of individual securities. Instead, we will advise you on how to allocate your assets among various classes of securities or third money managers. We primarily rely on investment model portfolio the third - party money managers and their portfolio managers. We may replace/recommend replacing a third - party money manager if there is a significant deviation in characteristics or performance from the stated strategy and/or benchmark. Tax Considerations Our s tra te g ie s a nd inve s tme nts ma y ha ve uniq ue a nd s ig nific a nt ta x imp lic a tio ns . Ho we ve r, unle s s we s p e c ific a lly a g re e o the rwis e , a nd in writing , ta x e ffic ie nc y is no t o ur p rima ry c o ns id e ra tio n in the ma na g e me nt o f yo ur a s s e ts . Re g a rd le s s o f yo ur a c c o unt siz e o r a ny othe r fa c to rs , we s tro ng ly re c o mme nd tha t yo u c o ns ult with a ta x p ro fe s s io na l re g a rd ing the inve s ting o f yo ur a s s e ts . Cus to d ia ns a nd b ro ke r- d e a le rs mus t re p o rt the c o s t b a s is o f e q uitie s a c q uire d in c lie nt a c c o unts . Yo ur c us to d ia n will d e fa ult to the Firs t- In Firs t- Out ("FIFO") a c c o unting m e tho d fo r c a lc ula ting the c o s t b a s is o f your inve s tme nts . Yo u a re re s p o ns ib le fo r c o nta c ting yo ur ta x a d vis o r to d e te rmine if this a c c o unting me tho d is the rig ht c ho ic e fo r yo u. If yo ur ta x a d vis o r b e lie ve s a no the r a c c ounting me tho d is mo re a d va nta g e o us , p ro vid e writte n no tic e to o ur firm im me d ia te ly a nd we will a le rt yo ur a c c o unt c us to d ia n o f yo ur ind ivid ua lly s e le c te d a c c o unting me tho d . De c is io ns a b o ut c o s t b a s is a c c o unting me tho d s will ne e d to b e ma d e b e fo re tra d e s s e ttle , a s the c o s t b a s is me tho d c a nno t b e c ha ng e d a fte r s e ttle me nt. Risk of Loss Inve s ting in s e c uritie s invo lve s ris k o f lo s s tha t yo u s ho uld b e p re p a re d to b e a r. We d o no t re p re s e nt or g ua ra nte e tha t o ur s e rvic e s o r me tho d s o f a na lys is c a n o r will p re d ic t future re s ults , s uc c e s s fully id e ntify m a rke t to p s o r b o tto ms , o r ins ula te c lie nts fro m lo s s e s d ue to ma rke t c o rre c tio ns o r d e c line s . We c a nno t o ffe r a ny g ua ra nte e s o r p ro mis e s tha t yo ur fina nc ia l g o a ls a nd o b je c tive s will b e me t. Pa s t p e rfo rma nc e is in no wa y a n ind ic a tio n o f future p e rfo rma nc e . Other Risk Considerations Whe n e va lua ting ris k, fina nc ia l lo s s ma y b e vie we d d iffe re ntly b y e a c h c lie nt a nd ma y d e p e nd o n ma ny d iffe re nt ris ks , e a c h o f whic h ma y a ffe c t the p ro b a b ility a nd ma g nitud e o f a ny p o te ntia l lo s e s . The fo llo wing ris ks ma y no t b e a ll- inc lus ive , b ut s ho uld b e c o ns id e re d c a re fully b y a p ro s p e c tive c lie nt b e fo re re ta ining o ur s e rvic e s . ● Liquidity Risk : The ris k o f b e ing una b le to s e ll yo ur inve s tme nt a t a fa ir p ric e a t a g ive n time d ue to hig h vo la tility o r la c k o f a c tive liq uid ma rke ts . Yo u ma y re c e ive a lo we r p ric e o r it ma y no t b e p o s s ib le to s e ll the inve s tme nt a t a ll. ● Credit Risk : Cre d it ris k typ ic a lly a p p lie s to d e b t inve s tme nts s uc h a s c o rp o ra te , munic ip a l, a nd s o ve re ig n fixe d inc o me o r b o nd s . A b o nd is s uing e ntity c a n e xp e rie nc e a c re d it e ve nt tha t c o uld imp a ir o r e ra s e the va lue o f a n is s ue r’s s e c uritie s he ld b y a c lie nt. : Se c urity p ric e s a nd p o rtfo lio re turns will like ly va ry in ● Inflation and Interest Rate Risk 14  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE rates, which may response to changes in inflation and interest rates. Inflation causes the value of future dollars to be worth less and may reduce the purchasing power of a client’s future interest payments and principal. Inflation also generally leads to higher interest cause the value of many types of fixed income investments to decline. : The ris k tha t yo ur inve s tme nt ho riz o n is s ho rte ne d b e c a us e ● Horizon and Longevity Risk o f a n unfo re s e e n e ve nt, fo r e xa mp le , the lo s s o f yo ur job . This ma y fo rc e yo u to s e ll inve s tme nts tha t yo u we re e xp e c ting to ho ld fo r the lo ng te rm. If yo u mus t s e ll a t a time tha t the ma rke ts a re d o wn, yo u ma y lo s e mo ne y. Lo ng e vity Ris k is the ris k o f o utliving yo ur s a ving s . This ris k is p a rtic ula rly re le va nt fo r p e o p le who a re re tire d , o r a re ne a ring re tire me nt. Recommendation of Particular Types of Securities We p rima rily re c o mme nd ETFs , a nd mutua l fund s . Ho we ve r, we ma y a d vis e o n o the r typ e s o f inve s tme nts a s a p p ro p ria te fo r you s inc e e a c h c lie nt ha s d iffe re nt ne e d s a nd d iffe re nt to le ra nc e fo r ris k. Ea c h typ e o f s e c urity ha s its o wn uniq ue s e t o f ris ks a s s oc ia te d with it a nd it wo uld no t b e p o s s ib le to lis t he re a ll o f the s p e c ific ris ks o f e ve ry typ e o f inve s tme nt. Eve n within the s a me typ e o f inve s tme nt, ris ks c a n va ry wid e ly. Ho we ve r, in ve ry g e ne ra l te rms , the hig he r the a ntic ip a te d re turn o f a n inve s tme nt, the hig he r the ris k o f lo s s a s s o c ia te d with the inve s tme nt. Money Market Funds : A mo ne y m a rke t fund is te c hnic a lly a s e c urity. The fund ma na g e rs a tte mp t to ke e p the s ha re p ric e c o ns ta nt a t $ 1/s ha re . Ho we ve r, the re is no g ua ra nte e tha t the s ha re p ric e will s ta y a t $ 1/s ha re . If the s ha re p ric e g o e s d o wn, yo u c a n lo s e s ome o r a ll o f yo ur p rinc ip a l. The U.S. Se c uritie s a nd Exc ha ng e Co mmis s io n ("SEC") no te s tha t "While inve s to r lo s s e s in mo ne y ma rke t fund s ha ve b e e n ra re , the y a re p o s s ib le ." In re turn fo r this ris k, yo u s ho uld e a rn a g re a te r re turn o n yo ur c a s h tha n yo u wo uld e xp e c t fro m a Fe d e ra l De p o s it Ins ura nc e Co rp o ra tio n ("FDIC") ins ure d s a ving s a c c o unt (mo ne y ma rke t fund s a re no t FDIC ins ure d ). Ne xt, mo ne y ma rke t fund ra te s a re va ria b le . In o the r wo rd s , yo u d o no t kno w ho w muc h yo u will e a rn o n yo ur inve s tme nt ne xt mo nth. The ra te c o uld g o up o r g o d o wn. If it g o e s up , tha t ma y re s ult in a p o s itive o utc o me . Ho we ve r, if it g o e s d o wn a nd yo u e a rn le s s tha n yo u e xp e c te d to e a rn, yo u ma y e nd up ne e d ing mo re c a s h. A fina l ris k yo u a re ta king with mo ne y ma rke t fund s ha s to d o with infla tio n. Be c a us e mo ne y ma rke t fund s a re c o ns id e re d to b e s a fe r tha n o the r inve s tme nts like s to c ks , lo ng - te rm a ve ra g e re turns o n mo ne y ma rke t fund s te nd s to b e le s s tha n lo ng te rm a ve ra g e re turns o n ris kie r inve s tme nts . Ove r lo ng p e rio d s o f time, infla tio n c a n e a t a wa y a t yo ur re turns . : Ce rtific a te s o f d e p o s it (“CD”) a re g e ne ra lly a s a fe typ e o f inve s tme nt Certificates of Deposit s inc e the y a re ins ure d b y the Fe d e ra l De p o s it Ins ura nc e Co mp a ny (“FDIC”) up to a c e rta in a mo unt. Ho we ve r, b e c a us e the re turns a re g e ne ra lly lo w, the re is ris k tha t infla tio n o utp a c e s the re turn o f the CD. Ce rta in CDs a re tra d e d in the ma rke tp la c e a nd no t p urc ha s e d d ire c tly fro m a b a nking ins titutio n. In a d d itio n to tra d ing ris k, whe n CDs a re p urc ha s e d a t a p re mium, the p re mium is no t c o ve re d b y the FDIC. Stocks : The re a re nume ro us wa ys o f me a s uring the ris k o f e q uity s e c uritie s (a ls o kno wn s imp ly a s "e q uitie s " o r "s to c k"). In ve ry b ro a d te rms , the va lue o f a s toc k d e p e nd s o n the fina nc ia l he a lth o f the c o mp a ny is s uing it. Ho we ve r, s toc k p ric e s c a n b e a ffe c te d b y ma ny o the r fa c to rs inc lud ing , b ut no t limite d to the c la s s o f s to c k (fo r e xa mp le , p re fe rre d o r c o mmo n); the he a lth o f 15  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE - up elf, an indicator of the the market sector of the issuing company; and the overall health of the economy. In general, larger, better - established companies ("large cap") tend to be safer than smaller start companies ("small cap") are but the mere size of an issuer is not, by its safety of the investment. : Mutual funds and exchange traded funds ("ETF") antly increased if the fund is concentrated s can be "closed end" or "open end". So - Mutual Funds and Exchange Traded Funds are professionally managed collective investment systems that pool money from many investors and invest in stocks, bonds, short - term money market instruments, other mutual funds, other securities, or any com bination thereof. The fund will have a manager that trades the fund's investments in accordance with the fund's investment objective. While mutual funds and ETFs generally provide diversification, risks can be signific in a particular sector of the market, primarily invests in small cap or speculative companies, uses leverage (i.e., borrows money) to a significant degree, or concentrates in a particular type of security (i.e., equities) rather than balancing the fund with different types of securities. ETFs differ from mutual funds since they can be bought and sold throughout the day like stock and their price can fluctuate throughout the day. The returns on mutual funds and ETF reduced by the costs to manage the funds. Also, while some mutual funds are "no load" and charge no fee to buy into, or sell out of, the fund, other types of mutual funds do charge such fees which can also reduce returns. Mutual funds can also be called "open end" mutual funds continue to allow in new investors indefinitely whereas "closed end" funds have a fixed number of shares to sell which can limit their availability to new investors. ed and inverse ETFs that exposure to all of the securities the Underlying Index, but which are expected to yield similar ETFs may have tracking error risks. For example, the ETF investment adviser may not be able to cause the ETF’s performance to match that of its Underlying Index or other benchmark, which may negatively affect the ETF's performance. In addition, for leverag seek to track the performance of their Underlying Indices or benchmarks on a daily basis, mathematical compounding may prevent the ETF from correlating with performance of its benchmark. In addition, an ETF may not have investment included in its Underlying Index, or its weighting of investment exposure to such securities may vary from that of the Underlying Index. Some ETFs may invest in securities or financial instruments that are not included in performance. - term core strategy due to - term variability of on to employment and demographic changes, real estate ncentrated in one Real Estate : Real estate is increasingly being used as part of a long increased market efficiency and increasing concerns about the future long e as a portfolio stock and bond returns. In fact, real estate is known for its ability to serv diversifier and inflation hedge. However, the asset class still bears a considerable amount of market risk. Real estate has shown itself to be very cyclical, somewhat mirroring the ups and downs of the overall economy. In additi is also influenced by changes in interest rates and the credit markets, which affect the demand and supply of capital and thus real estate values. Along with changes in market fundamentals, investors wi shing to add real estate as part of their core investment portfolios need to look for property concentrations by area or by property type. Because property returns are directly affected by local market basics, real estate portfolios that are too heavily co area or property type can lose their risk mitigation attributes and bear additional risk by being too influenced by local or sector market changes. 16  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE : A limited partnership is a financial affiliation that includes at least one r has liability is limited to the amount of their capital es. You should Limited Partnerships general partner and a number of limited partners. The partnership invests in a venture, such as real estate development or oil exploration, for financial gain. The general partne management authority and unlimited liability. The general partner runs the business and, in the event of bankruptcy, is responsible for all debts not paid or discharged. The limited partners have no management authority and their commitment. Profits are divided between general and limited partners according to an arrangement formed at the creation of the partnership. The range of risks are dependent on the nature of the partnershi p and disclosed in the offering documents if privately placed. Publicly traded limited partnership have similar risk attributes to equities. However, like privately placed limited partnerships their tax treatment is under a different tax regime from equiti speak to your tax adviser in regard to their tax treatment. : A structured product, also known as a market - linked product, is generally s, and to a . The note provides for periodic interest payments to the Structured Products a pre - packaged investment strategy based on derivatives, such as a single security, a basket of securities, options, indices, commodities, debt issuances, and/or foreign currencie lesser extent, swaps. Structured products are usually issued by investment banks or affiliates thereof. They have a fixed maturity, and have two components: a note and a derivative. The derivative component is often an option investor at a predetermined rate, and the derivative component provides for the payment at maturity. Some products use the derivative component as a put option written by the investor that gives the buyer of the put option the right to sell to the investor the security or securities at a predetermined price. Other products use the derivative component to provide for a call option written by the investor that gives the buyer of the call option the rig ht to buy the security or securities from the investor at a predetermined price. A feature of some structured products is a "principal guarantee" function, which offers protection of principal if held to maturity. However, these products are not always Fed eral Deposit Insurance Corporation insured; they may only be insured by the issuer, and thus have the potential for loss of principal in the case of a liquidity crisis, or other solvency problems with the issuing company. Investing in structured products involves a number of risks including but not limited to: fluctuations in the price, level or yield of underlying instruments, interest rates, currency values, and credit quality; substantial loss of principal; limits on participation in any appreciation of the underlying instrument; limited liquidity; credit risk of the issuer; conflicts of interest; and other events that are difficult to predict. Private Placements : A private placement (non - public offering) is an illiquid security sold to qualified investors and are not publicly traded nor registered with the Securities and Exchange Commission. The range of risks are dependent Risk: Private placements generally carry a higher degree of risk due to illiquidity. Most securities that are acquired in a private placement will be restricted securities and must be held for an extended amount of time and therefore cannot be sold easily. on the nature of the partnership and are disclosed in the offering documents. 17  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 9: Disciplinary Information We a re re q uire d to d is c lo s e the fa c ts o f a ny le g a l o r d is c ip lina ry e ve nts tha t a re ma te ria l to a c lie nt' s e va lua tio n o f o ur a d vis o ry b us ine s s o r the inte g rity o f o ur ma na g e me nt. We d o no t ha ve a ny re q uire d d is c lo s ure s und e r this ite m. 18  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 10: Other Financial Industry Activities and Affiliations As s o c ia te d p e rs o ns a nd /o r e xe c utive o ffic e rs o f o ur firm will ma na g e p a rtne rs hip s tha t inve s t in re a l e s ta te . We will re c o mme nd inve s tme nts in this p riva te fund to tho s e c lie nts fo r whic h inve s tme nt in the fund is s uita b le . This p re s e nts a c o nflic t o f inte re s t in tha t we o r o ur re la te d p e rs o ns ma y re c e ive mo re c o mp e ns a tio n fro m inve s tme nt in the fund tha n fro m o the r inve s tme nts . Ne ve rthe le s s , we a c t in the b e s t inte re s t o f the c lie nt c o ns is te nt with its fid uc ia ry d utie s a nd c lie nts a re no t re q uire d inve s t in the p riva te fund if the y d o no t wis h to d o s o . Recommendation of Other Advisers We ma y re c o mme nd tha t yo u us e a third - p a rty mo ne y ma na g e r ("TPMM") b a s e d o n yo ur ne e d s a nd s uita b ility. We will no t re c e ive s e p a ra te c o mp e ns a tio n, d ire c tly o r ind ire c tly, fro m the TPMM fo r re c o mme nd ing tha t yo u us e the ir s e rvic e s . Mo re o ve r, we d o no t ha ve a ny o the r b us ine s s re la tio ns hip s with the re c o mme nd e d TPMM(s ). Re fe r to the Ad vis o ry Bus ine s s s e c tio n a b o ve fo r a d d itio na l d is c lo s ure s o n this to p ic . Real Estate Agents Ad a m Re inking a nd Rya n Wa lke r a re a ls o e ng a g e d in b us ine s s a s re a l e s ta te a g e nts . Mr. Re inking a nd Mr. Wa lke r a re a ffilia te d with the re a l e s ta te b ro ke r All City Re a l Es ta te , Ltd . Co . In the ir c a p a c ity a s re a l e s ta te a g e nts , the y ma y re c o mme nd tha t yo u us e the re a l e s ta te b roke ra g e s e rvic e s o f All City Re a l Es ta te , Ltd . Co . if a p p ro p ria te a nd s uita b le fo r yo ur ne e d s . This p re s e nts a c o nflic t of inte re s t b e c a us e Mr. Re inking a nd Mr. Wa lke r ha ve a fina nc ia l inc e ntive to re c o mme nd the s e rvic e s o f All City Re a l Es ta te , Ltd . Co . Yo u a re no t o b lig a te d , c o ntra c tua lly o r o the rwis e , to us e the s e rvic e s o f Mr. Re inking , Mr. Wa lke r, o r All City Re a l Es ta te , Ltd . Co . The a d vis o ry s e rvic e s o ffe re d b y Re d b ud Ad vis o rs a re s e p a ra te a nd d is tinc t fro m the c o mp e ns a tio n p a id to Mr. Re inking a nd Mr. Wa lke r in the ir s e p a ra te c a p a c ity a s re a l e s ta te a g e nts . Private Investments Re d b ud s trive s to b e tra ns p a re nt with its c lie nts . We a c t a s a n inve s tme nt a d vis e r to the owne rs a nd /o r p rinc ip a ls o f s e ve ra l una ffilia te d inve s tme nt firms tha t o ffe r p o o le d inve s tme nt ve hic le s . Fro m time to time , we ma y s ug g e s t tha t c lie nts c o ns id e r inve s ting in the s e p o o le d inve s tm e nt ve hic le s a fte r e va lua ting the c lie nt’s s uita b ility, a s d e s c rib e d in Ite m 8 . We a c t in the b e s t inte re s t o f o ur c lie nts c o ns is te nt with o ur fid uc ia ry d utie s , a nd c lie nts a re und e r no o b lig a tio n to inve s t in a ny p riva te fund . Be c a us e Re d b ud p ro vid e s a d vis o ry s e rvic e s to the o wne rs a nd /o r p rinc ip a ls o f the s e una ffilia te d inve s tme nt firms , a c o nflic t o f inte re s t e xis ts . Sp e c ific a lly, we ha ve a n inc e ntive to re c o mme nd the s e p o o le d inve s tme nt ve hic le s d ue to o ur e xis ting a d vis o ry re la tio ns hip s with the ir o wne rs o r p rinc ip a ls , whic h c o uld c re a te the a p p e a ra nc e tha t o ur re c o mme nd a tio ns a re influe nc e d b y the s e re la tio ns hip s ra the r tha n s o le ly b y a c lie nt’s b e s t inte re s t. While we d o no t re c e ive c o mp e ns a tio n fro m the s e una ffilia te d inve s tm e nt firms o r the ir p rinc ip a ls fo r c lie nt inve s tme nts , a nd d o no t s ha re in fund - le ve l fe e s , this re la tio ns hip ma y s till p re s e nt a p o te ntia l c o nflic t. 19  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE rivate fund and may choose other Redbud addresses this conflict by adhering to its fiduciary duty, conducting suitability and due diligence reviews, and making recommendations only when we believe the investment is in the client’s best interest. Clients are not required to invest in any p investments. Introducing clients to investment firms is done at the client’s request. Redbud does not receive compensation when clients invest in private investments and does not share in the fees or profits of such investments. 20  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 11: Code of Ethics, Participation or Interest in Client Transactions and Personal Trading Description of Our Code of Ethics We s trive to c o mp ly with a p p lic a b le la ws a nd re g ula tio ns g o ve rning o ur p ra c tic e s . The re fore , o ur Co d e o f Ethic s inc lud e s g uid e line s fo r p ro fe s s io na l s ta nd a rd s o f c ond uc t fo r p e rs o ns a s s o c ia te d with o ur firm. Our g o a l is to p ro te c t yo ur inte re s ts a t a ll time s a nd to d e mo ns tra te o ur c o mmitme nt to o ur fid uc ia ry d utie s o f ho ne s ty, g o o d fa ith, a nd fa ir d e a ling with yo u. All p e rs o ns a s s o c ia te d with o ur firm a re e xp e c te d to a d he re s tric tly to the s e g uid e line s . Pe rs o ns a s s oc ia te d with o ur firm a re a ls o re q uire d to re p o rt a ny vio la tio ns o f o ur Co d e of Ethic s . Ad d itio na lly, we ma inta in a nd e nfo rc e writte n p o lic ie s re a s o na b ly d e s ig ne d to p re ve nt the mis us e o r d is s e mina tio n o f ma te ria l, no n- p ub lic info rma tio n a b o ut yo u o r yo ur a c c o unt ho ld ing s b y p e rs o ns a s s o c ia te d with o ur firm. Clie nts o r p ro s p e c tive c lie nts ma y o b ta in a c op y o f o ur Co d e o f Ethic s b y c o nta c ting us a t the te le p ho ne num b e r o n the c o ve r p a g e o f this b ro c hure . Participation or Interest in Client Transactions We s e rve a s the g e ne ra l p a rtne r o r a re a ffilia te d with o ne o r mo re p riva te fund s (p riva te p o o le d inve s tme nt ve hic le s ) in whic h yo u ma y b e s o lic ite d to inve s t. Our Comp a ny, c e rta in me m b e rs o f its ma na g e me nt, a nd o the r kno wle d g e a b le e mp lo ye e s ma y a c q uire , d ire c tly or ind ire c tly, inve s tme nt inte re s ts in o ur fund o r ha ve o the r fina nc ia l inte re s ts (e .g . Ge ne ra l Pa rtne r, Offic e rs , Bo a rd Me m b e rs , e tc .) in the fund s . This p re s e nts a c o nflic t o f inte re s t b e c a us e we ha ve inve s tme nts a nd /o r a re c o mp e ns a te d b y the p riva te fund s . Co nflic ts tha t a ris e a re mitig a te d thro ug h o ur Co mp a ny’s fid uc ia ry o b lig a tio n to a c t in the b e s t inte re s t o f o ur c lie nts , c o ntra c tua l lim ita tio ns tha t g o ve rn o ur a c tivitie s a s a d vis e r o r g e ne ra l p a rtne r, a s a p p lic a b le , a nd the re q uire me nt o f o ur Comp a ny no t to p la c e its inte re s ts b e fo re its c lie nts ’ inte re s ts whe n ma na g ing the fund s . If yo u a re a n inve s to r in a p riva te fund , re fe r to the p riva te fund ’s o ffe ring d o c ume nts fo r d e ta ile d d is c lo s ure s re g a rd ing the p riva te fund s . Personal Trading Practices Our firm o r p e rs o ns a s s o c ia te d with o ur firm ma y b uy o r s e ll the s a me s e c uritie s tha t we re c o mme nd to yo u o r s e c uritie s in whic h yo u a re a lre a d y inve s te d . A c o nflic t o f inte re s t e xis ts in s uc h c a s e s b e c a us e we ha ve the a b ility to tra d e a he a d o f yo u a nd p o te ntia lly re c e ive mo re fa vo ra b le p ric e s tha n yo u will re c e ive . To mitig a te this c o nflic t o f inte re s t, it is our p o lic y tha t ne ithe r o ur firm no r p e rs o ns a s s oc ia te d with o ur firm s ha ll ha ve p rio rity o ve r yo ur a c c o unt in the p urc ha s e o r s a le o f s e c uritie s . Block Trading Our firm o r p e rs o ns a s s o c ia te d with o ur firm ma y b uy o r s e ll s e c uritie s fo r yo u a t the s a me time we o r p e rs o ns a s s o c ia te d with o ur firm b uy o r s e ll s uc h s e c uritie s fo r o ur o wn a c c o unt. We ma y a ls o c o mb ine o ur o rd e rs to p urc ha s e s e c uritie s with yo ur o rd e rs to p urc ha s e s e c uritie s ("b lo c k 21  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE trading"). Refer to the Brokerage Practices section in this brochure for information on our block trading practices. sociated with our firm shall have A conflict of interest exists in such cases because we have the ability to trade ahead of you and potentially receive more favorable prices than you will receive. To eliminate this conflict of interest, it is our policy that neither our firm nor persons as priority over your account in the purchase or sale of securities. 22  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 12: Brokerage Practices We re c o mme nd the b ro ke ra g e a nd c us to d ia l s e rvic e s of Cha rle s Sc hwa b & Co ., Inc . Ad vis o r Se rvic e s (whe the r o ne o r mo re "Cus to d ia n"). Yo ur a s s e ts mus t b e ma inta ine d in a n a c c o unt a t a “q ua lifie d c us to d ia n,” g e ne ra lly a b ro ke r- d e a le r o r b a nk. In re c o g nitio n o f the va lue o f the s e rvic e s the Cus to d ia n p ro vid e s , yo u ma y p a y hig he r c o mm is s io ns a nd /o r tra d ing c o s ts tha n tho s e tha t ma y b e a va ila b le e ls e w he re . We s e e k to re c o mme nd a c us to d ia n/b ro ke r tha t will ho ld yo ur a s s e ts a nd e xe c ute tra ns a c tio ns o n te rms tha t a re , o ve ra ll, the mo s t fa vo ra b le c o mp a re d to o the r a va ila b le p ro vid e rs a nd the ir s e rvic e s . We c o ns id e r va rio us fa c to rs , inc lud ing : ● Ca p a b ility to b uy a nd s e ll s e c uritie s fo r yo ur a c c o unt its e lf o r to fa c ilita te s uc h s e rvic e s . ● The like liho o d tha t yo ur tra d e s will b e e xe c ute d . ● Ava ila b ility o f inve s tme nt re s e a rc h a nd to o ls . ● Ove ra ll q ua lity o f s e rvic e s . ● Co mp e titive ne s s o f p ric e . ● Re p uta tio n, fina nc ia l s tre ng th, a nd s ta b ility. ● Exis ting re la tio ns hip w ith o ur firm a nd o ur o the r c lie nts . Research and Other Soft Dollar Benefits We d o no t re c e ive p ro d uc ts o r s e rvic e s o the r tha n e xe c utio n (“s o ft d o lla r b e ne fits ”) fro m a b ro ke r- d e a le r o r third - p a rty fo r g e ne ra ting c o mm is s io ns , b ut d o re c e ive a d d itio na l e c o no mic b e ne fits d e s c rib e d b e lo w a nd in Ite m 14 . Economic Benefits As a re g is te re d inve s tme nt a d vis e r, we ha ve a c c e s s to the ins titutio na l p la tfo rm o f yo ur a c c o unt c us to d ia n. As s uc h, we will a ls o ha ve a c c e s s to re s e a rc h p ro d uc ts a nd s e rvic e s fro m yo ur a c c o unt c us to d ia n a nd /o r o the r b ro ke ra g e firm. The s e p ro d uc ts ma y inc lud e fina nc ia l p ub lic a tio ns , info rma tio n a b o ut p a rtic ula r c o mp a nie s a nd ind us trie s , re s e a rc h s o ftwa re , a nd o the r p ro d uc ts o r s e rvic e s tha t p ro vid e la wful a nd a p p ro p ria te a s s is ta nc e to o ur firm in the p e rfo rma nc e o f o ur inve s tme nt d e c is io n- ma king re s p o ns ib ilitie s . Suc h re s e a rc h p ro d uc ts a nd s e rvic e s a re p ro vid e d to a ll inve s tme nt a d vis e rs tha t utiliz e the ins titutio na l s e rvic e s p la tfo rms o f the s e firms , a nd a re not c o ns id e re d to b e p a id fo r with s o ft d o lla rs . Ho we ve r, yo u s ho uld b e a wa re tha t the c o mmis s io ns c ha rg e d b y a p a rtic ula r b ro ke r fo r a p a rtic ula r tra ns a c tio n o r s e t o f tra ns a c tio ns ma y b e g re a te r tha n the a mo unts a no the r b ro ke r who d id no t p ro vid e re s e a rc h s e rvic e s o r p ro d uc ts mig ht c ha rg e . Brokerage for Client Referrals We d o no t re c e ive c lie nt re fe rra ls fro m b ro ke r- d e a le rs in e xc ha ng e fo r c a s h o r o the r c o mp e ns a tio n, s uc h a s b ro ke ra g e s e rvic e s o r re s e a rc h. 23  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Directed Brokerage We ro utine ly re q uire tha t yo u d ire c t o ur firm to e xe c ute tra ns a c tio ns thro ug h Cha rle s Sc hwa b & Co ., Inc . Ad vis o r Se rvic e s As s uc h, we ma y b e una b le to a c hie ve the mo s t fa vo ra b le e xe c utio n o f yo ur tra ns a c tio ns a nd yo u ma y p a y hig he r b ro ke ra g e c o mmis s io ns tha n yo u mig ht o the rwis e p a y thro ug h a no the r b ro ke r- d e a le r tha t o ffe rs the s a me typ e s o f s e rvic e s . No t a ll a d vis e rs re q uire the ir c lie nts to d ire c t b ro ke ra g e . Block Trades We c o mb ine multip le o rd e rs fo r s ha re s o f the s a me s e c uritie s p urc ha s e d fo r d is c re tio na ry a d vis o ry a c c o unts we ma na g e (this p ra c tic e is c o mmo nly re fe rre d to a s "b lo c k tra d ing "). We will the n d is trib ute a p o rtio n o f the s ha re s to p a rtic ip a ting a c c o unts in a fa ir a nd e q uita b le ma nne r. Ge ne ra lly, p a rtic ip a ting a c c o unts will p a y a fixe d tra ns a c tio n c o s t re g a rd le s s o f the numb e r o f s ha re s tra ns a c te d . In c e rta in c a s e s , e a c h p a rtic ip a ting a c c o unt p a ys a n a ve ra g e p ric e p e r s ha re fo r a ll tra ns a c tio ns a nd p a ys a p rop o rtio na te s ha re o f a ll tra ns a c tio n c o s ts o n a ny g ive n d a y. In the e ve nt a n o rd e r is only p a rtia lly fille d , the s ha re s will b e a llo c a te d to p a rtic ip a ting a c c o unts in a fa ir a nd e q uita b le ma nne r, typ ic a lly in p ro p o rtio n to the s iz e o f e a c h c lie nt’s o rd e r. Ac c ounts o wne d b y o ur firm o r p e rs o ns a s s o c ia te d with o ur firm ma y p a rtic ip a te in b lo c k tra d ing with yo ur a c c o unts ; ho we ve r, the y will no t b e g ive n p re fe re ntia l tre a tme nt. We d o no t b lo c k tra d e fo r no n- d is c re tio na ry a c c o unts . Ac c o rd ing ly, no n- d is c re tio na ry a c c o unts ma y p a y d iffe re nt c o s ts tha n d is c re tio na ry a c c o unts p a y. If yo u e nte r into no n- d is c re tio na ry a rra ng e me nts with o ur firm, we ma y no t b e a b le to b uy a nd s e ll the s a me q ua ntitie s o f s e c uritie s fo r yo u a nd yo u ma y p a y hig he r c o mm is s io ns , fe e s , a nd /o r tra ns a c tio n c o s ts tha n c lie nts who e nte r into d is c re tio na ry a rra ng e me nts with o ur firm. Mutual Fund Share Classes Mutua l fund s a re s o ld with d iffe re nt s ha re c la s s e s , whic h c a rry d iffe re nt c o s t s truc ture s . Ea c h a va ila b le s ha re c la s s is d e s c rib e d in the mutua l fund ' s p ro s p e c tus . Whe n we p urc ha s e , o r re c o mme nd the p urc ha s e o f mutua l fund s fo r a c lie nt, we s e le c t the s ha re c la s s tha t is d e e me d to b e in the c lie nt’s b e s t inte re s t, ta king into c o ns id e ra tio n c o s t, ta x imp lic a tio ns , a nd o the r fa c to rs . Whe n the fund is a va ila b le fo r p urc ha s e a t ne t a s s e t va lue , we will p urc ha s e , o r re c o mme nd the p urc ha s e o f, the fund a t ne t a s s e t va lue . We a ls o re vie w the mutua l fund s he ld in a c c o unts tha t c o me und e r o ur ma na g e me nt to d e te rmine whe the r a mo re b e ne fic ia l s ha re c la s s is a va ila b le , c o ns id e ring c o s t, ta x imp lic a tio ns , a nd the imp a c t o f c o nting e nt d e fe rre d s a le s c ha rg e s . 24  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 13: Review of Accounts Ad a m Re inking , Chie f Co mp lia nc e Offic e r, will mo nito r yo ur a c c o unts o n a n o ng o ing b a s is a nd will c o nd uc t a c c o unt re vie ws a t le a s t a nnua lly, to e ns ure the a d vis o ry s e rvic e s p ro vid e d to yo u a re c o ns is te nt with yo ur inve s tme nt ne e d s a nd o b je c tive s . Ad d itio na l re vie ws ma y b e c o nd uc te d b a s e d o n va rio us c irc ums ta nc e s , inc lud ing , b ut no t limite d to : ● c o ntrib utio ns a nd withd ra wa ls , ● ye a r- e nd ta x p la nning , ● ma rke t mo ving e ve nts , ● s e c urity s p e c ific e ve nts , a nd /o r, ● c ha ng e s in yo ur ris k/re turn o b je c tive s . The ind ivid ua ls c o nd uc ting re vie ws ma y va ry fro m time to time , a s p e rs o nne l jo in o r le a ve o ur firm. We will no t p ro vid e yo u with re g ula r writte n re p o rts . Yo u will re c e ive tra d e c o nfirma tio ns a nd mo nthly o r q ua rte rly s ta te me nts fro m yo ur a c c o unt c us to d ia n(s ). Ad a m Re inking , Chie f Co mp lia nc e Offic e r, will re vie w fina nc ia l p la ns a s ne e d e d , d e p e nd ing o n the a rra ng e me nts ma d e with yo u a t the inc e p tio n o f yo ur a d vis o ry re la tio ns hip to e ns ure tha t the a d vic e p ro vid e d is c o ns is te nt with yo ur inve s tme nt ne e d s a nd o b je c tive s . Ge ne ra lly, we will c o nta c t you p e rio d ic a lly to d e te rmine whe the r a ny up d a te s ma y b e ne e d e d b a s e d o n c ha ng e s in yo ur c irc ums ta nc e s . Cha ng e d c irc ums ta nc e s ma y inc lud e , b ut a re no t lim ite d to ma rria g e , d ivo rc e , b irth, d e a th, inhe rita nc e , la ws uit, re tire me nt, jo b lo s s , a nd /o r d is a b ility, a mo ng o the rs . We re c o mme nd me e ting with yo u a t le a s t a nnua lly to re vie w a nd up d a te yo ur p la n if ne e d e d . Ad d itio na l re vie ws will b e c o nd uc te d up o n yo ur re q ue s t. Suc h re vie ws a nd up d a te s ma y b e s ub je c t to our the n c urre nt fixe d fe e ra te . We will no t p ro vid e re g ula r writte n re p o rts fo r fina nc ia l p la nning a nd c o ns ulting s e rvic e s . If yo u imp le me nt fina nc ia l p la nning a d vic e , yo u will re c e ive tra d e c o nfirma tio ns a nd mo nthly o r q ua rte rly s ta te me nts fro m re le va nt c us to d ia ns . 25  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 14: Client Referrals and Other Compensation We ma y re c e ive a d d itio na l c o mp e ns a tio n o r b e ne fits , o fte n re fe rre d to a s s o ft d o lla r kic kb a c ks , fro m third - p a rty s e rvic e p ro vid e rs . This c re a te s a p o te ntia l c o nflic t o f inte re s t, a s it c o uld influe nc e o ur firm' s re c o mme nd a tio ns o r the us e o f the s e s e rvic e s. Ho we ve r, we a re d e d ic a te d to e ns uring tha t o ur c lie nts ' b e s t inte re s ts re ma in o ur to p p rio rity in a ll re c o mm e nd a tio ns a nd b us ine s s p ra c tic e s . While we ma y re c o mme nd o r us e third - p a rty s e rvic e s fro m whic h we re c e ive a d d itio na l c o mp e ns a tio n o r b e ne fits , the s e d e c is io ns a re b a s e d o n the q ua lity, me rit, a nd s uita b ility o f the s e rvic e s in re la tio n to o ur c lie nts ' s p e c ific ne e d s . To a d d re s s a nd mitig a te a ny c o nflic ts , we re q uire a ll ins ta nc e s o f re c e iving s uc h c o mp e ns a tio n o r b e ne fits to b e fully d o c ume nte d a nd re p o rte d to the Chie f Co mp lia nc e Offic e r. Re fe r to the Bro ke ra g e Pra c tic e s s e c tio n a b o ve fo r d is c los ure s o n re s e a rc h a nd o the r b e ne fits we ma y re c e ive re s ulting fro m o ur re la tio ns hip with yo ur a c c o unt c us to d ia n. Cha rle s Sc hwa b & Co ., Inc . Ad vis o r Se rvic e s p ro vid e s us with a c c e s s to Cha rle s Sc hwa b & Co ., Inc . Ad vis o r Se rvic e s ’ ins titutio na l tra d ing a nd c us to d y s e rvic e s , whic h a re typ ic a lly no t a va ila b le to Cha rle s Sc hwa b & Co ., Inc . Ad vis o r Se rvic e s re ta il inve s to rs . The s e s e rvic e s g e ne ra lly a re a va ila b le to ind e p e nd e nt inve s tme nt a d vis e rs o n a n uns o lic ite d b a s is , a t no c ha rg e to the m s o lo ng a s a tota l o f a t le a s t $ 10 m illio n o f the a d vis e r’s c lie nts ’ a s s e ts a re ma inta ine d in a c c o unts a t Cha rle s Sc hwa b & Co ., Inc . Ad vis o r Se rvic e s . Cha rle s Sc hwa b & Co ., Inc . Ad vis o r Se rvic e s inc lud e s b ro ke ra g e s e rvic e s tha t a re re la te d to the e xe c utio n o f s e c uritie s tra ns a c tio ns , c us to d y, re s e a rc h, inc lud ing tha t in the fo rm o f a d vic e , a na lys e s a nd re p o rts , a nd a c c e s s to mutua l fund s a nd o the r inve s tme nts tha t a re o the rwis e g e ne ra lly a va ila b le o nly to ins titutio na l inve s to rs o r wo uld re q uire a s ig nific a ntly hig he r minimum initia l inve s tme nt. Fo r o ur c lie nt a c c o unts ma inta ine d in its c us to d y, Cha rle s Sc hwa b & Co ., Inc . Ad vis o r Se rvic e s g e ne ra lly d o e s no t c ha rg e s e p a ra te ly fo r c us to d y s e rvic e s b ut is c o mp e ns a te d b y a c c ount ho ld e rs thro ug h c o mmis s io ns o r o the r tra ns a c tio n- re la te d o r a s s e t- b a s e d fe e s fo r s e c uritie s tra d e s tha t a re e xe c ute d thro ug h Cha rle s Sc hwa b & Co ., Inc . Ad vis o r Se rvic e s o r tha t s e ttle into Cha rle s Sc hwa b & Co ., Inc . Ad vis o r Se rvic e s a c c o unts . Cha rle s Sc hwa b & Co ., Inc . Ad vis o r Se rvic e s a ls o ma ke s a va ila b le to us o the r p ro d uc ts a nd s e rvic e s tha t b e ne fit us b ut ma y no t b e ne fit its c lie nts ’ a c c o unts . The s e b e ne fits ma y inc lud e na tio na l, re g io na l o r o ur s p e c ific e d uc a tio na l e ve nts o rg a niz e d a nd /o r s p o ns o re d b y Cha rle s Sc hwa b & Co ., Inc . Ad vis o r Se rvic e s . Othe r p o te ntia l b e ne fits ma y inc lud e o c c a s io na l b us ine s s e nte rta inm e nt o f p e rs o nne l b y Cha rle s Sc hwa b & Co ., Inc . Ad vis o r Se rvic e s p e rs o nne l, inc lud ing me a ls , invita tio ns to s p o rting e ve nts , inc lud ing g o lf to urna me nts , a nd o the r fo rms o f e nte rta inm e nt, s o me of whic h ma y a c c o mp a ny e d uc a tio na l o p p o rtunitie s . Othe r o f the s e p ro d uc ts a nd s e rvic e s a s s is t us in ma na g ing a nd a d minis te ring c lie nts ’ a c c o unts . The s e inc lud e s o ftwa re a nd o the r te c hno lo g y (a nd re la te d te c hno lo g ic a l tra ining ) tha t p ro vid e a c c e s s to c lie nt a c c ount d a ta (s uc h a s tra d e c o nfirma tio ns a nd a c c o unt s ta te me nts ), fa c ilita te tra d e e xe c utio n (a nd a llo c a tio n o f a g g re g a te d tra d e o rd e rs fo r multip le c lie nt a c c ounts , if a p p lic a b le ), p ro vid e re s e a rc h, p ric ing info rma tio n a nd o the r ma rke t d a ta , fa c ilita te p a yme nt o f o ur fe e s fro m its c lie nts ’ a c c o unts (if a p p lic a b le ), a nd a s s is t 26  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE to us other services siness succession, regulatory compliance, insurance, and marketing. In addition, ve fees it would otherwise charge for some of these - party providing these services to us. We are with back - office training and support functions, recordkeeping and client reporting. Many of these services generally may be used to service all or some substantial number of firm’s accounts. Charles Schwab & Co., Inc. Advisor Services also makes available intended to help us manage and further develop its business enterprise. These services may include professional compliance, legal and business consulting, publications and conferences on practice management, information technology, bu employee benefits providers, human capital consultants, Charles Schwab & Co., Inc. Advisor Services may make available, arrange and/or pay vendors for these types of services rendered to us by independent third parties. Charles Schwab & Co., Inc. Advisor Services may discount or wai services or pay all or a part of the fees of a third independently owned and operated and not affiliated with Charles Schwab & Co., Inc. Advisor Services. 27  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 15: Custody As p a ying a g e nt fo r o ur firm, yo ur ind e p e nd e nt c us to d ia n will d ire c tly d e b it yo ur a c c o unt(s ) fo r the p a yme nt o f o ur a d vis o ry fe e s . This a b ility to d e d uc t our a d vis o ry fe e s fro m yo ur a c c o unts c a us e s o ur firm to e xe rc is e limite d c us to d y o ve r yo ur fund s o r s e c uritie s . We d o no t ha ve p hys ic a l c us to d y o f a ny o f yo ur fund s a nd /o r s e c uritie s , e xc e p t a s p ro vid e d b e lo w. Yo ur fund s a nd s e c uritie s will b e he ld with a b a nk, b ro ke r- d e a le r, o r o the r q ua lifie d c us to d ia n. Yo u will re c e ive a c c o unt s ta te me nts fro m the q ua lifie d c us to d ia n(s ) ho ld ing yo ur fund s a nd s e c uritie s a t le a s t q ua rte rly. The a c c o unt s ta te me nts fro m yo ur c us tod ia n(s ) will ind ic a te the a mo unt o f o ur a d vis o ry fe e s d e d uc te d fro m yo ur a c c o unt(s ) e a c h b illing p e rio d . Yo u s ho uld c a re fully re vie w a c c o unt s ta te me nts fo r a c c ura c y. We will a ls o p ro vid e s ta te me nts to yo u re fle c ting the a mo unt o f the a d vis o ry fe e d e d uc te d fro m yo ur a c c o unt. Yo u s ho uld c o mp a re o ur s ta te me nts with the s ta te me nts fro m yo ur a c c o unt c us to d ia n(s ) to re c o nc ile the info rma tio n re fle c te d o n e a c h s ta te me nt. If yo u ha ve a q ue s tio n re g a rd ing yo ur a c c o unt s ta te me nt, o r if yo u d id no t re c e ive a s ta te me nt fro m yo ur c us to d ia n, c o nta c t us imme d ia te ly a t the te le p ho ne num b e r o n the c o ve r p a g e o f this b ro c hure . Cus to d y is a ls o d is c lo s e d in Fo rm ADV b e c a us e we ha ve a utho rity to tra ns fe r mo ne y fro m c lie nt a c c o unt(s ), whic h c o ns titute s a s ta nd ing le tte r o f a utho riz a tio n (SLOA). Ac c o rd ing ly, we will fo llo w the s a fe g ua rd s s p e c ifie d b y the SEC ra the r tha n und e rg o a n a nnua l a ud it. Private Investment Companies In lig ht o f o ur re la te d p e rs o ns c a p a c ity a s Ge ne ra l Pa rtne r a nd /o r Ma na g ing Me mb e r to the re s p e c tive Fund s , Re d b ud Ad vis o rs is c o ns id e re d to ha ve a c c e s s to the Fund ' s c a s h a nd s e c uritie s , a nd the re fo re ha s c us to d y o ve r s uc h fund s a nd s e c uritie s . We p ro vid e e a c h inve s to r in the Fund (s ) with a ud ite d a nnua l fina nc ia l s ta te me nts . If yo u a re a Fund inve s to r a nd ha ve q ue s tio ns re g a rd ing the fina nc ia l s ta te me nts o r if yo u d id no t re c e ive a c o p y, c o nta c t us d ire c tly a t the te le p ho ne num b e r o n the c o ve r p a g e o f this b ro c hure . 28  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 16: Investment Discretion Be fo re we c a n b uy o r s e ll s e c uritie s o n yo ur b e ha lf, yo u mus t firs t s ig n o ur d is c re tio na ry ma na g e me nt a g re e me nt a nd the a p p ro p ria te tra d ing a utho riz a tio n fo rms . Yo u ma y g ra nt o ur firm d is c re tio n o ve r the s e le c tio n a nd numb e r o f s e c uritie s to b e p urc ha s e d o r s o ld fo r yo ur a c c o unt(s ) witho ut o b ta ining yo ur c o ns e nt o r a p p ro va l p rio r to e a c h tra ns a c tio n. Yo u ma y s p e c ify inve s tme nt o b je c tive s , g uid e line s , a nd /o r imp o s e c e rta in c ond itio ns o r inve s tme nt p a ra me te rs fo r yo ur a c c o unt(s ). Fo r e xa mp le , yo u ma y s p e c ify tha t the inve s tm e nt in a ny p a rtic ula r s to c k o r ind us try s ho uld no t e xc e e d s p e c ifie d p e rc e nta g e s o f the va lue o f the p o rtfo lio a nd /o r re s tric tio ns o r p ro hib itio ns o f tra ns a c tio ns in the s e c uritie s o f a s p e c ific ind us try o r s e c urity. Re fe r to the Ad vis o ry Bus ine s s s e c tio n in this b ro c hure fo r mo re info rma tio n o n o ur d is c re tio na ry ma na g e me nt s e rvic e s . 29  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 17: Voting Client Securities We will no t vo te p ro xie s o n b e ha lf o f yo ur a d vis o ry a c c o unts . At yo ur re q ue s t, we ma y o ffe r yo u a d vic e re g a rd ing c o rp o ra te a c tio ns a nd the e xe rc is e o f your p ro xy vo ting rig hts . If yo u o wn s ha re s o f a p p lic a b le s e c uritie s , yo u a re re s p o ns ib le fo r e xe rc is ing yo ur rig ht to vo te a s a s ha re ho ld e r. In mo s t c a s e s , yo u will re c e ive p ro xy ma te ria ls d ire c tly fro m the a c c o unt c us to d ia n. Ho we ve r, in the e ve nt we we re to re c e ive a ny writte n o r e le c tro nic p ro xy ma te ria ls , we wo uld fo rwa rd the m d ire c tly to yo u b y ma il, unle s s yo u ha ve a utho riz e d o ur firm to c o nta c t yo u b y e le c tro nic ma il, in whic h c a s e , we wo uld fo rwa rd a ny e le c tro nic s o lic ita tio ns to vo te p ro xie s . 30  REDBUD ADVISORS, LLC FORM ADV PART 2 A | BROCHURE Item 18: Financial Information Our firm d o e s no t ha ve a ny fina nc ia l c o nd itio n o r imp a irm e nt tha t wo uld p re ve nt us fro m me e ting o ur c o ntra c tua l c o mm itme nts to you. We d o no t re q uire the p re p a yme nt o f mo re tha n $ 12 0 0 in fe e s s ix o r mo re mo nths in a d va nc e . The re fore , we a re no t re q uire d to inc lud e a fina nc ia l s ta te me nt with this b ro c hure . We ha ve no t file d a b a nkrup tc y p e titio n a t a ny time in the p a s t te n ye a rs . 31