Wildermuth Endowment Fund: management transactions · United States · SEC (Form 4)

About Wildermuth Endowment Fund

Wildermuth Endowment Fund (ticker: WESFX) is a U.S.-based investment fund operating in the public-market ecosystem followed by investors in the NYSE/NASDAQ universe in the broad sense, although it is fundamentally an asset-management vehicle rather than a traditional operating company. For French-speaking investors, it should be viewed as a listed-style fund product exposed to U.S. securities regulation and SEC reporting rather than as a manufacturer or service industrial. The fund is structured as a continuously offered closed-end management investment company, commonly referred to as an interval fund, under the Investment Company Act of 1940. Its stated objective is to seek total return through a combination of long-term capital appreciation and income generation. The fund’s investment philosophy is built around an “endowment-style” allocation framework, inspired by the asset mixes used by large university and institutional endowments in the United States. In practical terms, this means a blend of liquid traditional assets such as equities and fixed income, together with less liquid and alternative investments when the adviser believes they can improve risk-adjusted returns. This differentiates WESFX from plain-vanilla mutual funds and many ETFs, and places it in a more specialized segment of the U.S. fund market. Historically, the product was launched under the name Wildermuth Endowment Strategy Fund before adopting its current name, Wildermuth Endowment Fund. SEC filings show that the fund has been managed through Wildermuth Advisory, LLC, with a board of trustees and a quarterly repurchase structure typical of interval funds. That setup allows the fund to offer periodic liquidity while maintaining exposure to assets that may not trade daily. For investors, this is both a feature and a risk: it can support diversification and access to alternative strategies, but it also introduces valuation, liquidity, and governance complexity. Because WESFX is a fund rather than an operating business, its “business lines” are best understood as portfolio management, asset allocation, and investor access to a packaged strategy. The fund’s competitive positioning comes from its attempt to replicate institutional endowment behavior in a retail-accessible wrapper. Its competitors include other interval funds, actively managed multi-asset funds, liquid alternative strategies, and income-oriented allocations offered by larger U.S. asset managers. Geographically, the fund’s activity is centered in the United States, with U.S. SEC registration and U.S. investor distribution. A key recent development was the governance change disclosed in November 2023, when Wildermuth Advisory was terminated as investment adviser on an interim basis and BW Asset Management Ltd was appointed as interim adviser, following the resignation of Daniel and Carol Wildermuth from multiple fund roles. That event is important for investors because it underscores that management continuity is a material factor for this type of fund vehicle.