| Fund ID | 805-4446601570 |
| Fund type | Hedge Fund |
| 3(c)(1) exclusion | No |
| 3(c)(7) exclusion | Yes |
| Master fund | Yes |
| Feeder fund | No |
| Fund of funds | Yes |
| Relies on exemption from registration | Yes |
| Annual audit | Yes |
| Prepared per GAAP | Yes |
| Sub-advised | No |
| % of assets independently valued | 100% |
| Owned by the adviser or related persons | 12% |
| Owned by funds of funds | 0% |
| Owned by non-U.S. persons | 13% |
| Fund | Type | Gross assets |
|---|---|---|
| Point Bonita Capital Master Fund a LLC | Other Private | $1.8B |
| Topwater Mayfly Fund LLC | Hedge | $801.3M |
| Topwater Stonefly Fund LLC | Hedge | $523.3M |
Topwater Master Fund Ltd. reports $1.3 billion in gross assets, among the top 5% of private funds by size.
The stated minimum investment is $1 million.
Topwater Master Fund Ltd. is managed by Leucadia Asset Management LLC.
No. Private funds are not required to publicly disclose performance. Form ADV reports assets, structure, and service providers.