Siguler Guff Advisers, LLC

Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.

Reported portfolio value by quarter (11 quarters reported)

$269M $56.1M

Q1 23 Q4 23 Q3 24 Q2 25 Q3 25

$256M in Q1 2023 → $56.1M now. Hover for any quarter.

Holdings

As reported for the quarter ended September 30, 2025. Activity is the change in share count since the prior quarter's filing.

Holding	% of portfolio	Activity	Shares	Value
SH Semrush Hldgs Inc	91.7%	Unchanged	7,272,579	$51.5M
SP Service Pptys Tr	8.3%	Unchanged	1,708,737	$4.63M

What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.

quarter ended September 30, 2025 · filed October 15, 2025

No position changes this quarter.

quarter ended June 30, 2025 · filed July 29, 2025

No position changes this quarter.

quarter ended March 31, 2025 · filed April 29, 2025

Company	Action	Shares changed	Value of change	% of portfolio
Royalty Pharma PLC	Exited	−2,369,170	−$60.4M	—
FC Frontier Communications Pare	Exited	−1,428,729	−$49.6M	—

quarter ended December 31, 2024 · filed January 23, 2025

Company	Action	Shares changed	Value of change	% of portfolio
Royalty Pharma PLC	Trimmed	−1,022,584	−$26.1M	30.1%
PN Patriot Natl Bancorp Inc	Exited	−75,929	−$144K	—

quarter ended September 30, 2024 · filed October 28, 2024

Company	Action	Shares changed	Value of change	% of portfolio
PN Patriot Natl Bancorp Inc	Trimmed	−174,076	−$331K	0.1%

quarter ended June 30, 2024 · filed July 25, 2024

Company	Action	Shares changed	Value of change	% of portfolio
FD Fathom Digital Mfg Corp	Exited	−831,728	−$3.83M	—
PN Patriot Natl Bancorp Inc	Trimmed	−49,706	−$93K	0.2%

quarter ended March 31, 2024 · filed April 26, 2024

No position changes this quarter.

quarter ended December 31, 2023 · filed January 29, 2024

Company	Action	Shares changed	Value of change	% of portfolio
FD Fathom Digital Mfg Corp	Exited	−831,728	−$4.78M	—
FD Fathom Digital Mfg Corp	New	+831,728	+$3.71M	1.5%

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