1. The investment adviser or investment adviser representative in question may only transact business in this state if first licensed, excluded, or exempted from the District investment adviser or investment adviser representative licensing requirements; and
   
   
2. Follow-up, individualized responses to persons in this state by the investment adviser or investment adviser representative that involve either effecting or attempting to effect transactions in securities, or rendering of personalized investment advice for compensation, will not be made without compliance with the District investment adviser or investment adviser representative licensing requirements, or an applicable exemption or exclusion;

Cabildo Capital LLC is a Limited Liability Company organized in the District of Columbia.  Cabildo Capital was formed in January 2012.  Its principal owner and control person is Raul A. Sonza Jr.  The Organization CRD # is 297330.  Cabildo Capital became registered as an Investment Advisor in Washington, D.C. on June 2018. Cabildo Capital and its investment advisor representatives are registered in Washington, D.C., Virginia, Maryland, Louisiana, Texas, California, and Florida.

Certain statements contained herein are statements of future expectations and other forward-looking statements that are based on management current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (1) general economic conditions; (2) performance of financial markets; (3) interest rate levels; and (4) increasing levels of loan defaults.

This report does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. The securities discussed in this report may not be suitable for all investors. We recommend that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. The appropriateness of a particular investment or strategy will depend on an investor's individual circumstances and objectives. The securities, instruments, or strategies discussed in this report may not be suitable for all investors, and certain investors may not be eligible to purchase or participate in some or all of them. The views expressed reflect those of the portfolio manager as of the date noted. The portfolio manager’s views are subject to change at any time based on market and other various conditions.

This report is not an offer to buy or sell or the solicitation of an offer to buy or sell any security or to participate in any particular trading strategy. We make every effort to use reliable, comprehensive information, but we make no representation that it is accurate or complete. We have no obligation to tell you when opinions or information in this report change apart from when we intend to discontinue analysis of a subject company or investment. Facts and views presented in this report have not been reviewed by, and may not reflect information known to, professionals in other business areas.