York Capital Management

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 

If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
No Information Filed
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY AND SWISS FEDERAL DEPARTMENT OF FINANCE
2.
Principal Sanction:
Other
Other Sanctions: 
FINE
3.
Date Initiated (MM/DD/YYYY): 
12/23/2021
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Equity Listed (Common & Preferred Stock)
Other Product Types: 
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
ON DECEMBER 23, 2021, THE FIRM RECEIVED A LETTER FROM THE SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY ("FINMA"), NOTIFYING THE
FIRM THAT FINMA WAS REVIEWING WHETHER THE FIRM OR ITS CONTROLLING PERSONS FAILED TO TIMELY MEET DISCLOSURE OBLIGATIONS UNDER
THE FINANCIAL MARKET INFRASTRUCTURE ACT (THE "FMIA") WITH REGARD TO AN INVESTMENT MADE BY YORK DISTRESSED ASSET FUND IV ("YDAF IV")
IN ULTIMA CAPITAL AG ("ULTIMA"). THE FIRM HAD TIMELY NOTIFIED ULTIMA AND BX SWISS AG OF THE ACQUISITION OF AN AGGREGATE 7.27%
INTEREST IN ULTIMA AND THE ENTRY INTO A CALL AND PUT OPTION AGREEMENT WITH ULTIMA'S TWO CO-FOUNDERS PURSUANT TO WHICH SUCH CO-
FOUNDERS WERE ENTITLED TO PURCHASE VOTING SHARES. THE CALL AND PUT OPTION AGREEMENT WAS TERMINATED ON OCTOBER 15, 2020, AND
ULTIMA ISSUED A PRESS RELEASE NOTING THE TERMINATION OF THE AGREEMENT AND DISCLOSING THAT YORK MAINTAINED ITS 7.27% POSITION IN
ULTIMA. THE FIRM DID NOT MAKE ITS OWN DISCLOSURE NOTIFICATION UNDER THE FMIA ACT WITH REGARD TO THE TERMINATION OF THE CALL AND
PUT OPTION AGREEMENT AT THAT TIME. FINMA REFERRED THE MATTER TO THE SWISS FEDERAL DEPARTMENT OF FINANCE ("FDF") AS AN
ADMINISTRATIVE CRIMINAL MATTER TO DETERMINE WHETHER THE FIRM OR ITS CONTROLLING PERSONS FAILED TO TIMELY MEET DISCLOSURE
OBLIGATIONS UNDER THE FMIA. THE FDF ISSUED A FINAL DETERMINATION THAT THE FIRM FAILED TO TIMELY MEET ITS DISCLOSURE OBLIGATIONS
WITH REGARD TO THE TERMINATION OF THE CALL AND PUT OPTION AGREEMENT AND IMPOSED A FINE OF CHF 10,000, WHICH WAS AT THE LOWER
END OF THE APPLICABLE PENALTY RANGE, AND PROCEDURAL COSTS OF CHF 1,050. THE FDF DECISION WAS DATED FEBRUARY 2, 2023, AND BECAME
EFFECTIVE ON MARCH 8, 2023, UPON THE FIRM'S DETERMINATION TO NOT APPEAL THE FDF DECISION. TO AVOID THE DISTRACTION AND EXPENSE OF
LITIGATION, YORK ELECTED TO ACCEPT THE DETERMINATION INSTEAD OF SEEKING AN APPEAL OF THE DECISION.
8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:

If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Order
11. Resolution Date (MM/DD/YYYY):
03/08/2023
 Exact
 Explanation
If not exact, provide explanation:
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 11,050.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
WE ARE AWAITING AN INVOICE FOR THE FINE AND THE FIRM WILL PAY THE CHF 11,050 FINE PROMPTLY UPON RECEIPT. NO PORTION OF THE
FINE WILL BE ALLOCATED TO YDAF IV.
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
ON DECEMBER 23, 2021, THE FIRM RECEIVED A LETTER FROM THE SWISS FINANCIAL MARKET SUPERVISORY AUTHORITY ("FINMA"), NOTIFYING THE
FIRM THAT FINMA WAS REVIEWING WHETHER THE FIRM OR ITS CONTROLLING PERSONS FAILED TO TIMELY MEET DISCLOSURE OBLIGATIONS UNDER
THE FINANCIAL MARKET INFRASTRUCTURE ACT (THE "FMIA") WITH REGARD TO AN INVESTMENT MADE BY YORK DISTRESSED ASSET FUND IV ("YDAF IV")
IN ULTIMA CAPITAL AG ("ULTIMA"). THE FIRM HAD TIMELY NOTIFIED ULTIMA AND BX SWISS AG OF THE ACQUISITION OF AN AGGREGATE 7.27%
INTEREST IN ULTIMA AND THE ENTRY INTO A CALL AND PUT OPTION AGREEMENT WITH ULTIMA'S TWO CO-FOUNDERS PURSUANT TO WHICH SUCH CO-
FOUNDERS WERE ENTITLED TO PURCHASE VOTING SHARES. THE CALL AND PUT OPTION AGREEMENT WAS TERMINATED ON OCTOBER 15, 2020, AND
ULTIMA ISSUED A PRESS RELEASE NOTING THE TERMINATION OF THE AGREEMENT AND DISCLOSING THAT YORK MAINTAINED ITS 7.27% POSITION IN
ULTIMA. THE FIRM DID NOT MAKE ITS OWN DISCLOSURE NOTIFICATION UNDER THE FMIA ACT WITH REGARD TO THE TERMINATION OF THE CALL AND
PUT OPTION AGREEMENT AT THAT TIME. FINMA REFERRED THE MATTER TO THE SWISS FEDERAL DEPARTMENT OF FINANCE ("FDF") AS AN
ADMINISTRATIVE CRIMINAL MATTER TO DETERMINE WHETHER THE FIRM OR ITS CONTROLLING PERSONS FAILED TO TIMELY MEET DISCLOSURE
OBLIGATIONS UNDER THE FMIA. THE FDF ISSUED A FINAL DETERMINATION THAT THE FIRM FAILED TO TIMELY MEET ITS DISCLOSURE OBLIGATIONS
WITH REGARD TO THE TERMINATION OF THE CALL AND PUT OPTION AGREEMENT AND IMPOSED A FINE OF CHF 10,000, WHICH WAS AT THE LOWER
END OF THE APPLICABLE PENALTY RANGE, AND PROCEDURAL COSTS OF CHF 1,050. THE FDF DECISION WAS DATED FEBRUARY 2, 2023, AND BECAME
EFFECTIVE ON MARCH 8, 2023, UPON THE FIRM'S DETERMINATION TO NOT APPEAL THE FDF DECISION. TO AVOID THE DISTRACTION AND EXPENSE OF
LITIGATION, YORK ELECTED TO ACCEPT THE DETERMINATION INSTEAD OF SEEKING AN APPEAL OF THE DECISION.

Includes form instructions and options. Options shown in this text do not identify which boxes were selected.

GENERAL INSTRUCTIONS
This Disclosure Reporting Page (DRP ADV) is an 
INITIAL OR
AMENDED response used to report details for affirmative responses to Items 11.C., 11.D.,
11.E., 11.F. or 11.G. of Form ADV.
Regulatory Action
Check item(s) being responded to:
11.C(1)
11.C(2)
11.C(3)
11.C(4)
11.C(5)
11.D(1)
11.D(2)
11.D(3)
11.D(4)
11.D(5)
11.E(1)
11.E(2)
11.E(3)
11.E(4)
11.F.
11.G.
Use a separate DRP for each event or proceeding . The same event or proceeding may be reported for more than one person or entity using one DRP. File
with a completed Execution Page. 
One event may result in more than one affirmative answer to Items 11.C., 11.D., 11.E., 11.F. or 11.G. Use only one DRP to report details related to the
same event. If an event gives rise to actions by more than one regulator, provide details for each action on a separate DRP.
PART I
A.  The person(s) or entity(ies) for whom this DRP is being filed is (are):
You (the advisory firm)

(
y
)
You and one or more of your advisory affiliates
One or more of your advisory affiliates
If this DRP is being filed for an advisory affiliate, give the full name of the advisory affiliate below (for individuals, Last name, First name, Middle name). 
If the advisory affiliate has a CRD number, provide that number. If not, indicate "non-registered" by checking the appropriate box.
ADV DRP - ADVISORY AFFILIATE
No Information Filed
This DRP should be removed from the ADV record because the advisory affiliate(s) is no longer associated with the adviser.
This DRP should be removed from the ADV record because: (1) the event or proceeding occurred more than ten years ago or (2) the adviser is
registered or applying for registration with the SEC or reporting as an exempt reporting adviser with the SEC and the event was resolved in the
adviser's or advisory affiliate's favor.
If you are registered or registering with a state securities authority , you may remove a DRP for an event you reported only in response to Item
11.D(4), and only if that event occurred more than ten years ago. If you are registered or registering with the SEC, you may remove a DRP for any
event listed in Item 11 that occurred more than ten years ago.
This DRP should be removed from the ADV record because it was filed in error, such as due to a clerical or data-entry mistake. Explain the
circumstances: 
B.
If the advisory affiliate is registered through the IARD system or CRD system, has the advisory affiliate submitted a DRP (with Form ADV, BD or U-4) to
the IARD or CRD for the event? If the answer is "Yes," no other information on this DRP must be provided.
 Yes
 No
NOTE: The completion of this form does not relieve the advisory affiliate of its obligation to update its IARD or CRD records.
PART II
1.  Regulatory Action initiated by:
SEC   
Other Federal   
State   
SRO
Foreign
(Full name of regulator, foreign financial regulatory authority, federal, state, or SRO) 
FINANCIAL SUPERVISORY AUTHORITY OF NORWAY (FINANSTILSYNET)
2.
Principal Sanction:
Civil and Administrative Penalt(ies) /Fine(s)
Other Sanctions: 
3.
Date Initiated (MM/DD/YYYY): 
12/10/2025
 Exact
 Explanation
If not exact, provide explanation:
4.
Docket/Case Number:
5.
Advisory Affiliate Employing Firm when activity occurred which led to the regulatory action (if applicable):
6.
Principal Product Type:
Equity Listed (Common & Preferred Stock)
Other Product Types: 
7.
Describe the allegations related to this regulatory action (your response must fit within the space provided):
ON DECEMBER 10, 2025, THE FIRM RECEIVED A LETTER (THE "LETTER") FROM THE FINANCIAL AUTHORITY OF NORWAY (NW.: FINANSTILSYNET) (THE
"NFSA"), NOTIFYING THE FIRM THAT NFSA WAS CONSIDERING IMPOSING A VIOLATION PENALTY OF NOK 100,000 ON THE FIRM WITH REGARD TO A
TRADE MADE BY YORK TACTICAL ENERGY FUND, L.P. AND YORK TACTICAL ENERGY FUND AIV-AN, L.P. (COLLECTIVELY, THE "YTEF FUNDS") IN SHARES OF
BLUENORD ASA ("BLUENORD"). THE YTEF FUNDS PARTICIPATED IN A TENDER OFFER CONDUCTED BY BLUENORD AND ULTIMATELY SOLD 250,556
SHARES PURSUANT TO THE TENDER OFFER. THE FIRM WAS UNCERTAIN AS TO BOTH THE NUMBER OF SHARES THAT WOULD BE ACCEPTED BY BLUENORD
IN THE TENDER OFFER AND THE FINAL SETTLEMENT DATE. AS A RESULT OF THIS SALE, THE FIRM'S AGGREGATE HOLDINGS IN BLUENORD FELL BELOW
5% AND A NOTIFICATION FILING WAS REQUIRED PURSUANT TO THE NORWEGIAN SECURITIES ACT ("NSTA"). WHILE THE FIRM MADE ITS NOTIFICATION
FILING IMMEDIATELY UPON ITS COMPLIANCE TEAM BEING NOTIFIED THAT THE TRADE WAS ACCEPTED AND HAD SETTLED, NFSA INDICATED IN THE
LETTER THAT IT BELIEVED THE FIRM FAILED TO TIMELY MEET ITS DISCLOSURE OBLIGATIONS UNDER THE NSTA AND, ACCORDINGLY, WAS CONSIDERING
IMPOSING THE VIOLATION PENALTY. THE NFSA ISSUED A FINAL DETERMINATION THAT THE FIRM FAILED TO TIMELY MEET ITS DISCLOSURE
OBLIGATIONS WITH REGARD TO THE SHARES SOLD PURSUANT TO THE TENDER OFFER AND IMPOSED A FINE OF NOK 100,000, WHICH THE FIRM
UNDERSTANDS IS A STANDARD FINE ISSUED IN SIMILAR CIRCUMSTANCES. THE NFSA DECISION WAS PUBLISHED FEBRUARY 19, 2026. THE FIRM HAD
THREE WEEKS TO APPEAL THE DECISION, BUT, TO AVOID THE DISTRACTION AND EXPENSE OF LITIGATION, THE FIRM HAS ELECTED TO ACCEPT THE
DETERMINATION INSTEAD OF SEEKING AN APPEAL OF THE DECISION.

8.
Current Status?      
 Pending
 On Appeal
 Final
9.
If on appeal, regulatory action appealed to (SEC, SRO, Federal or State Court) and Date Appeal Filed:
If Final or On Appeal, complete all items below. For Pending Actions, complete Item 13 only.
10. How was matter resolved:
Decision
11. Resolution Date (MM/DD/YYYY):
03/04/2026
 Exact
 Explanation
If not exact, provide explanation:
THE NFSA DECISION WAS PUBLISHED FEBRUARY 19, 2026. THE FIRM HAD THREE WEEKS TO APPEAL THE DECISION, BUT, TO AVOID THE DISTRACTION
AND EXPENSE OF LITIGATION, THE FIRM HAS ELECTED TO ACCEPT THE DETERMINATION INSTEAD OF SEEKING AN APPEAL OF THE DECISION. YORK
PAID THE NOK 100,000 PROMPTLY UPON RECEIPT OF THE FINAL INVOICE FROM THE NFSA.
12. Resolution Detail:
A.  Were any of the following Sanctions Ordered (check all appropriate items)?
 Monetary/Fine Amount: $ 100,000.00
 Revocation/Expulsion/Denial
 Disgorgement/Restitution
 Censure
 Cease and Desist/Injunction
 Bar
 Suspension
B.
Other Sanctions Ordered:
THE FINE IS FOR NOK 100,000
Sanction detail: if suspended, enjoined or barred, provide duration including start date and capacities affected (General Securities Principal,
Financial Operations Principal, etc.). If requalification by exam/retraining was a condition of the sanction, provide length of time given to
requalify/retrain, type of exam required and whether condition has been satisfied. If disposition resulted in a fine, penalty, restitution,
disgorgement or monetary compensation, provide total amount, portion levied against you or an advisory affiliate, date paid and if any portion
of penalty was waived: 
THE FINE IS FOR NOK 100,000. YORK PAID THE NOK 100,000 PROMPTLY UPON RECEIPT OF THE FINAL INVOICE FROM THE NFSA.
13. Provide a brief summary of details related to the action status and (or) disposition and include relevant terms, conditions and dates (your response
must fit within the space provided).
ON DECEMBER 10, 2025, THE FIRM RECEIVED A LETTER (THE "LETTER") FROM THE FINANCIAL AUTHORITY OF NORWAY (NW.: FINANSTILSYNET) (THE
"NFSA"), NOTIFYING THE FIRM THAT NFSA WAS CONSIDERING IMPOSING A VIOLATION PENALTY OF NOK 100,000 ON THE FIRM WITH REGARD TO A
TRADE MADE BY YORK TACTICAL ENERGY FUND, L.P. AND YORK TACTICAL ENERGY FUND AIV-AN, L.P. (COLLECTIVELY, THE "YTEF FUNDS") IN SHARES OF
BLUENORD ASA ("BLUENORD"). THE YTEF FUNDS PARTICIPATED IN A TENDER OFFER CONDUCTED BY BLUENORD AND ULTIMATELY SOLD 250,556
SHARES PURSUANT TO THE TENDER OFFER. THE FIRM WAS UNCERTAIN AS TO BOTH THE NUMBER OF SHARES THAT WOULD BE ACCEPTED BY BLUENORD
IN THE TENDER OFFER AND THE FINAL SETTLEMENT DATE. AS A RESULT OF THIS SALE, THE FIRM'S AGGREGATE HOLDINGS IN BLUENORD FELL BELOW
5% AND A NOTIFICATION FILING WAS REQUIRED PURSUANT TO THE NORWEGIAN SECURITIES ACT ("NSTA"). WHILE THE FIRM MADE ITS NOTIFICATION
FILING IMMEDIATELY UPON ITS COMPLIANCE TEAM BEING NOTIFIED THAT THE TRADE WAS ACCEPTED AND HAD SETTLED, NFSA INDICATED IN THE
LETTER THAT IT BELIEVED THE FIRM FAILED TO TIMELY MEET ITS DISCLOSURE OBLIGATIONS UNDER THE NSTA AND, ACCORDINGLY, WAS CONSIDERING
IMPOSING THE VIOLATION PENALTY. THE NFSA ISSUED A FINAL DETERMINATION THAT THE FIRM FAILED TO TIMELY MEET ITS DISCLOSURE
OBLIGATIONS WITH REGARD TO THE SHARES SOLD PURSUANT TO THE TENDER OFFER AND IMPOSED A FINE OF NOK 100,000, WHICH THE FIRM
UNDERSTANDS IS A STANDARD FINE ISSUED IN SIMILAR CIRCUMSTANCES. THE NFSA DECISION WAS PUBLISHED FEBRUARY 19, 2026. THE FIRM HAD
THREE WEEKS TO APPEAL THE DECISION, BUT, TO AVOID THE DISTRACTION AND EXPENSE OF LITIGATION, THE FIRM HAS ELECTED TO ACCEPT THE
DETERMINATION INSTEAD OF SEEKING AN APPEAL OF THE DECISION.