EFTA00590500Set 9
70p29,073w
SUBSCRIPTION BOOKLET
ADW CAPITAL PARTNERS, L.P.
Limited Partnership Interests
November 2015
CONFIDENTIAL
EFTA00590500
ADW CAPITAL PARTNERS, L.P.
SUBSCRIPTION PROCEDURES
This Subscription Booklet (this "Booklet") is being provided to prospective investors ... connection with an offering (the "Offering") of limited partnership interests ("Interests") by ADW
Capital Partners, L.P., a Delaware limited partnership (the "Fund"). Prior to subscribing for Interests in
the Fund ... forms are available via the U.S. Internal Revenue Service's website at
www.irs.gov.
ADW CAPITAL PARTNERS. L.P. t CONFIDENTIAL
EFTA00590501
5. Please complete the Anti-Money Laundering Compliance Supplement
https://www.justice.gov/epstein/files/DataSet%209/EFTA00590500.pdf
EFTA00314773Set 9
70p29,088w
SUBSCRIPTION BOOKLET
ADW CAPITAL PARTNERS, L.P.
Limited Partnership Interests
November 2015
CONFIDENTIAL
EFTA00314773
ADW CAPITAL PARTNERS, L.P.
SUBSCRIPTION PROCEDURES
This Subscription Booklet (this "Booklet") is being provided to prospective investors ... connection with an offering (the "Offering") of limited partnership interests ("Interests") by ADW
Capital Partners, L.P., a Delaware limited partnership (the "Fund"). Prior to subscribing for Interests in
the Fund ... forms are available via the U.S. Internal Revenue Service's website at
www.irs.gov.
ADW CAPITAL PARTNERS. L.P. t CONFIDENTIAL
EFTA00314774
5. Please complete the Anti-Money Laundering Compliance Supplement
https://www.justice.gov/epstein/files/DataSet%209/EFTA00314773.pdf
EFTA00605855Set 9
2015-08-084p1,601w
ADW Capital Partners, L.P. 8/8/2015
2nd Quarter and 2015 YTD Performance Report 411(2) 2015 2015 Inception Average
02 YTD To Date Annual Return
ADW Ca Ital Pa
Gloss ... informational
purposes only. See Important Notes on page 4.
CONFIDENTIAL 1
EFTA00605855
ADW Capital Partners, L.P. 8/8/2015
Dear Partners,
It is our pleasure to report results for the 2nd quarter ... broken record, we want to reiterate a critical point discussed in all
quarterly letters. ADW Capital Partners, L.P. (the "Fund") operates a concentrated, tax-sensitive
and long-term strategy designed
https://www.justice.gov/epstein/files/DataSet%209/EFTA00605855.pdf
EFTA00605968Set 9
6p2,419w
ADW Capital Partners, L.P. 14/26/2014
1st Quarter 2014 and YTD Performance Report M2) 2014 Inception
Q1 2014 To Date
Gross Return -1.24% -1.24% 207.67%
Dow Jones -0.11% -0.11% 52.94%
NASDAQ ... informational purposes
only. See Important Notes on page 6.
CONFIDENTIAL 1
EFTA00605968
ADW Capital Partners, L.P. 4/26/2014
Dear Partners,
It is my pleasure to report results for the first quarter ... broken record, I want to reiterate a critical point discussed in all
quarterly letters. ADW Capital Partners, L.P. (the "Fund') operates a concentrated, tax-
sensitive, and long-term strategy designed
https://www.justice.gov/epstein/files/DataSet%209/EFTA00605968.pdf
EFTA00287273Set 9
2015-04-206p2,716w
ADW Capital Partners, L.P. 4/20/2015
1st Quarter and 2015 YTD Performance Report " 2) 2015 Inception Average
01 To Date Annual Return
Gross Return 17.54%
Dow Jones 0.31%
NASDAQ ... informational
purposes only. See Important Notes on page 6.
CONFIDENTIAL 1
EFTA00287273
ADW Capital Partners, 4/20/2015
Dear Partners,
It is our pleasure to report results for the 1st quarter ... broken rec= we want to reiterate a critical point discussed in all
quarterly letters. ADW Capital Partners, M. (the "Fund") operates a concentrated, tax-sensitive
and long-term strategy designed
https://www.justice.gov/epstein/files/DataSet%209/EFTA00287273.pdf
EFTA00287292Set 9
6p2,419w
ADW Capital Partners, L.P. 14/26/2014
1st Quarter 2014 and YTD Performance Report M2) 2014 Inception
O1 2014 To Date
Gross Return -1.24% -1.24% 207.67%
Dow Jones -0.11% -0.11% 52.94%
NASDAQ ... informational purposes
only. See Important Notes on page 6.
CONFIDENTIAL 1
EFTA00287292
ADW Capital Partners, L.P. 4/26/2014
Dear Partners,
It is my pleasure to report results for the first quarter ... broken record, I want to reiterate a critical point discussed in all
quarterly letters. ADW Capital Partners, L.P. (the "Fund') operates a concentrated, tax-
sensitive, and long-term strategy designed
https://www.justice.gov/epstein/files/DataSet%209/EFTA00287292.pdf
EFTA00287279Set 9
2015-08-084p1,595w
ADW Capital Partners, L.P. 8/8/2015
2nd Quarter and 2015 YTD Performance Report "n' 2015 2015 Inception Average
O2 YTD To Date Annual Return
Ital Pa
Gross ... informational
purposes only. See Important Notes on page 4.
CONFIDENTIAL 1
EFTA00287279
ADW Capital Partners, 8/8/2015
Dear Partners,
It is our pleasure to report results for the 2nd quarter ... want to reiterate a critical point discussed in all
quarterly letters. ADW Capital Partners, . (the "Fund") operates a concentrated, tax-sensitive
and long-term strategy designed to minimize correlation
https://www.justice.gov/epstein/files/DataSet%209/EFTA00287279.pdf
EFTA00605924Set 9
2015-04-206p2,721w
ADW Capital Partners, L.P. 4/20/2015
1st Quarter and 2015 YTD Performance Report " 2) 2015 Inception Average
01 To Date Annual Return
Gross Return 17.54%
Dow Jones 0.31%
NASDAQ ... informational
purposes only. See Important Notes on page 6.
CONFIDENTIAL 1
EFTA00605924
ADW Capital Partners, L.P. 4/20/2015
Dear Partners,
It is our pleasure to report results for the 1st quarter ... broken record, we want to reiterate a critical point discussed in all
quarterly letters. ADW Capital Partners, L.P. (the "Fund") operates a concentrated, tax-sensitive
and long-term strategy designed
https://www.justice.gov/epstein/files/DataSet%209/EFTA00605924.pdf
EFTA00287298Set 9
5p2,696w
ADW Capital Partners, L.P. 17/18/2014
2nd Quarter 2014 and YTD Performance Report " 2) 2014 Inception
Q2 2014 To Date
Gross Return 20.40% 18.91% 258.97%
Dow Jones 2.80% 2.68% 57.22%
NASDAQ ... broken record, I want to reiterate a critical point discussed in all
quarterly letters. ADW Capital Partners, L.P. (the "Fund') operates a concentrated, tax-
sensitive, and long-term strategy designed ... broad-based
gains across the portfolio in the second quarter.
CONFIDENTIAL 1
EFTA00287298
ADW Capital Partners, L.P. 17/18/2014
While at times we are quite tight lipped about the portfolio
https://www.justice.gov/epstein/files/DataSet%209/EFTA00287298.pdf
EFTA00605975Set 9
2016-02-175p2,372w
ADW Capital Partners, L.P. 2/17/2016
4th Quarter and 2015 Performance Report " 2) 2015 2015 Inception Average
O4 To Date Annual Return
ADW Capital Partners, L.P.
Gross Return ... informational
purposes only. See Important Notes on page 5.
CONFIDENTIAL 1
EFTA00605975
ADW Capital Partners, L.P. 12/17/2016
Dear Partners,
It is our pleasure to report results for the 4th quarter ... broken record, we want to reiterate a critical point discussed in all
quarterly letters. ADW Capital Partners, L.P. (the "Fund") operates a concentrated, tax-sensitive
and long-term strategy designed
https://www.justice.gov/epstein/files/DataSet%209/EFTA00605975.pdf
EFTA00287303Set 9
2014-11-044p1,492w
ADW Capital Partners, L.P. 11/4/2014
3rd Quarter 2014 and YTD Performance Report ("2) 2014 Inception
Q3 2014 To Date
Gross Return -3.99% 14.17% 246.90%
Dow Jones 1.88% 4.61% 60.18%
NASDAQ ... informational
purposes only. See Important Notes on page 4.
CONFIDENTIAL 1
EFTA00287303
ADW Capital Partners, L.P. 11/4/2014
Dear Partners,
It is our pleasure to report results for the third quarter ... broken record, we want to reiterate a critical point discussed in all
quarterly letters. ADW Capital Partners, L.P. (the "Fund") operates a concentrated, tax-sensitive
and long-term strategy designed
https://www.justice.gov/epstein/files/DataSet%209/EFTA00287303.pdf
EFTA00287283Set 9
2015-11-044p1,573w
ADW Capital Partners, L.P. 111/4/2015
3rd Quarter and 2015 YTD Performance Report ("} 2015 2015 Inception Average
Q3 YTD To Date Annual Return
Gross Return 0.01% 13.40% 331.10% 36.02%
Dow Jones ... informational
purposes only. See Important Notes on page 4.
CONFIDENTIAL 1
EFTA00287283
ADW Capital Partners, L.P. 11/4/2015
Dear Partners,
It is our pleasure to report results for the 3rd quarter ... broken record, we want to reiterate a critical point discussed in all
quarterly letters. ADW Capital Partners, L.P. (the "Fund") operates a concentrated, tax-sensitive
and long-term strategy designed
https://www.justice.gov/epstein/files/DataSet%209/EFTA00287283.pdf
EFTA00593688Set 9
2015-11-044p1,573w
ADW Capital Partners, L.P. 111/4/2015
3rd Quarter and 2015 YTD Performance Report ("} 2015 2015 Inception Average
Q3 YTD To Date Annual Return
Gross Return 0.01% 13.40% 331.10% 36.02%
Dow Jones ... informational
purposes only. See Important Notes on page 4.
CONFIDENTIAL 1
EFTA00593688
ADW Capital Partners, L.P. 11/4/2015
Dear Partners,
It is our pleasure to report results for the 3rd quarter ... broken record, we want to reiterate a critical point discussed in all
quarterly letters. ADW Capital Partners, L.P. (the "Fund") operates a concentrated, tax-sensitive
and long-term strategy designed
https://www.justice.gov/epstein/files/DataSet%209/EFTA00593688.pdf
EFTA00287287Set 9
2016-12-175p2,365w
ADW Capital Partners, L.P. 12/17/2016
4th Quarter and 2015 Performance Report t1M2) 2015 2015 Inception Average
Q4 To Date Annual Return
Gross Return -3.31% 9.65% 319.79% I 33.23%
Dow Jones ... Infomunlonal
purposes only. See Important Notes on page 5.
CONFIDENTIAL 1
EFTA00287287
ADW Capital Partners, L.P. 12/17/2016
Dear Partners,
It is our pleasure to report results for the 4th quarter ... broken record, we want to reiterate a critical point discussed in all
quarterly letters. ADW Capital Partners, L.P. (the "Fund") operates a concentrated, tax-sensitive
and long-term strategy designed
https://www.justice.gov/epstein/files/DataSet%209/EFTA00287287.pdf
EFTA00620144Set 9
2015-02-084p1,641w
ADW Capital Partners, L.P. 2/8/2015
4th Quarter and 2014 Performance Report"
Gross Return 14.44% 30.66% 288.88%
Dow Jones 5.17% 10.03% 68.46%
NASDAQ 5.40% 13.40% 76.64%
(1) The table above reflects ... informational
purposes only. See Important Notes on page 4.
CONFIDENTIAL 1
EFTA00620144
ADW Capital Partners, L.P. 2/8/2015
Dear Partners,
It is our pleasure to report results for the fourth quarter ... broken record, we want to reiterate a critical point discussed in all
quarterly letters. ADW Capital Partners, L.P. (the "Fund") operates a concentrated, tax-sensitive
and long-term strategy designed
https://www.justice.gov/epstein/files/DataSet%209/EFTA00620144.pdf
EFTA00287307Set 9
2015-02-084p1,641w
ADW Capital Partners, L.P. 2/8/2015
4th Quarter and 2014 Performance Report"
Gross Return 14.44% 30.66% 288.88%
Dow Jones 5.17% 10.03% 68.46%
NASDAQ 5.40% 13.40% 76.64%
(1) The table above reflects ... informational
purposes only. See Important Notes on page 4.
CONFIDENTIAL 1
EFTA00287307
ADW Capital Partners, L.P. 2/8/2015
Dear Partners,
It is our pleasure to report results for the fourth quarter ... broken record, we want to reiterate a critical point discussed in all
quarterly letters. ADW Capital Partners, L.P. (the "Fund") operates a concentrated, tax-sensitive
and long-term strategy designed
https://www.justice.gov/epstein/files/DataSet%209/EFTA00287307.pdf
EFTA00620140Set 9
2015-12-084p1,449w
EFTA00620140
ADW Capital Partners, L.P. 12/8/2015
Dear Partners,
It is our pleasure to report results for the fourth quarter of 2014, the le quarter since inception
and our fourth anniversary ... broken record, we want to reiterate a critical point discussed in all
quarterly letters. ADW Capital Partners, L.P. (the "Fund") operates a concentrated, tax-sensitive
and long-term strategy designed ... these types of
companies in the world of zero interest rates.
CONFIDENTIAL 2
EFTA00620141
ADW Capital Partners, L.P. 12/8/2015
A third and perhaps unrelated observation is that while many investors
https://www.justice.gov/epstein/files/DataSet%209/EFTA00620140.pdf
EFTA02703510Set 11
2016-04-271p183w
April 27, 2016 7:59 PM
To: Jefffrey Epstein
Subject: Fwd: Adam Wyden
Attachments: ADW Capital Management LLC_ Q1 2015 Investor Letter.pdf; Untitled attachment
00004.htm; ADW Capital Management ... Investor Letter.pdt Untitled
attachment 00007.htm; ADW Capital Management LLC_ Q3 2015 Investor Letter.pdt
Untitled attachment 00010.htm; ADW Capital Management LLC_ Q4 2015 Investor
Letter.pdf; Untitled attachment 00013.htm; ADW Capital Management ... Investor Letter.pdf; Untitled attachment 00016.htm; ADW Capital Management, LLC_
Q2 2014 Investor Letter.pdf; Untitled attachment 00019.htm; ADW Capital
Management, LLC_ Q3 2014 Investor Letter.pdf; Untitled attachment 00022.htm; ADW
Capital Management
https://www.justice.gov/epstein/files/DataSet%2011/EFTA02703510.pdf