Skylands Special Investment LLC
Skylands Special Investment LLC is a hedge fund based in Milwaukee, Wisconsin. According to its most recent Form D, filed Dec 8, 2025, the fund has sold $380,606,175 of interests to 63 investors since its first sale in Oct 1992. The filing does not set a minimum investment. It relies on the Section 3(c)(1) exclusion, which limits it to 100 beneficial owners, typically accredited investors. The offering uses Rule 506(b), which does not permit general solicitation. Related persons named in the filing include Steve Pulito; Virginia Shaffar; Charles Paquelet.
Performance
No verified returns have been reported for this fund. As a rough guide, Skylands Capital, LLC, which manages it, disclosed U.S. stock holdings that returned an estimated +11.7% 2026 YTD through Jun 30 (S&P 500: +9.5%), based only on its public 13F filings. Over a longer period, Q3 2024 to Q2 2026, the estimate is +38.0% (S&P 500: +37.2%).
This estimate covers the firm's whole disclosed long U.S. stock portfolio. It is not this fund's return and excludes dividends, fees, shorts, derivatives, bonds, cash and trading within each quarter.
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- Total raised
- $380,606,175Cumulative sales reported on Form D
- Investors
- 63
- First sale
- Oct 1, 1992
- Minimum investment
- None set
- Who can invest
- Accredited investorsSection 3(c)(1): up to 100 beneficial owners
- Offering exemption
- Rule 506(b)No general advertising
- Key people and entities
- Steve Pulito; Virginia Shaffar; Charles Paquelet
- Latest Form D
- Dec 8, 2025
From SEC filings, not verified. This page republishes the fund's Form D as filed. It is not an offer, solicitation or recommendation, and AltMountain has not reviewed the fund. “Raised” is cumulative sales, not current assets or performance. Private funds are speculative, illiquid and generally limited to accredited investors or qualified purchasers. Full disclosures · Request a correction
Questions about Skylands Special Investment LLC
What is the minimum investment for Skylands Special Investment LLC?
Skylands Special Investment LLC's latest Form D, filed Dec 8, 2025, does not set a minimum investment. Managers can still require one in the offering documents.
Who can invest in Skylands Special Investment LLC?
Skylands Special Investment LLC is generally open only to accredited investors, and it may have no more than 100 beneficial owners because it relies on Section 3(c)(1). It uses Rule 506(b), which does not allow general advertising.
How much has Skylands Special Investment LLC raised?
Skylands Special Investment LLC reports $380,606,175 sold from 63 investors on its Form D filed Dec 8, 2025. This is cumulative sales since the offering began, not current assets or performance.
Where is Skylands Special Investment LLC based?
Skylands Special Investment LLC is based in Milwaukee, Wisconsin and is managed by Skylands Capital, LLC.
When did Skylands Special Investment LLC launch?
Skylands Special Investment LLC reports its first sale in Oct 1992.
Size compared with every hedge fund
Raised more than 90% of the 30 hedge funds based in Wisconsin, and more than 79% of all 10,307 that report sales.