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Investment Adviser Public Disclosure

Last updated 11/30/2022

Karmel Capital Management LLC (“Karmel”) is an SEC Registered Investment Adviser. However, such registration does not imply a certain level of skill or training, and no inference to the contrary should be made. This website is provided solely for informational purposes and is not intended as, and should not be considered, investment or financial advice or a recommendation to buy or sell any securities. No investment and/or financial planning decision should be made based on the information contained in this website. The opinions and information referenced on this site are as of the date of publication and are subject to change without notice. Investing in securities or managed funds involves risk, including the possibility of loss of principal capital. Different types of investments involve varying degrees of risk.Karmel offers advisory services ONLY to (i) managed funds and not to individuals, fund investors, or other entities and (ii) only where Karmel Capital Management LLC and its representatives are properly licensed or exempt from licensure.A copy of Karmel’s current written disclosure documents discussing our services, fees, and other important information is available upon request or at adviserinfo.sec.gov.

2022 ADV, Part 2A