System 2 Master Fund Limited

System 2 Master Fund Limited is reported as a hedge fund in Form ADV private-fund disclosures. The adviser is System 2 Capital Llp, based in London, United Kingdom.

General hedge fund $500M to $1B $1M to $5M minimum

$762.3Mgross assets

$1.0Mminimum

50owners

3(c)(7)exemption

Disclosure fields

Fund facts

SEC private fund ID805-6132844623

Reference ID308920

JurisdictionCayman Islands

Fund of fundsNo

Master fundYes

Feeder fundNo

Non-US ownership90%

Assets valued100%

Annual auditYes

GAAPNo

Source periodMarch 2026

Date submitted03/03/2026

Adviser

System 2 Capital Llp

TypeExempt reporting adviser

SEC number802-125700

CRD321192

Regulatory AUM$0

Compliance signals

Exempt from registration Sales limitation not marked Prime brokers reported Custodians reported

Service providers

Reported counterparties

General partners

Glenn KennedyCary MarrMax Veneziani

Auditors

KPMG LLP

Prime brokers

MORGAN STANLEY & CO. INTERNATIONAL PLCGOLDMAN SACHS INTERNATIONALBNP PARIBAS

Custodians

GOLDMAN SACHS INTERNATIONALBNP PARIBAS25 CABOT SQUARE

Administrators

SS&C FINANCIAL SERVICES LLC