McGinn Penninger Investment Mgmt. is a SEC-registered investment adviser with its principal place of business located in VA. McGinn Penninger Investment Mgmt. began conducting business in 1992. Listed below are the firm's principal shareholders (i.e., those individuals and/or entities controlling 25% or more of this company).
• Bernard Francis McGinn, CIO McGinn Penninger Investment Mgmt. offers the following advisory services to our clients: INDIVIDUAL PORTFOLIO MANAGEMENT Our firm primarily provides investment advisory services, also known as asset management services. For the majority of client accounts, McGinn employs a large cap value equity investment strategy. On a case by case basis, we may build fixed income portfolios for clients at their request. On a very limited basis, we provide asset allocation guidance and execution to clients who have requested those services. We manage all accounts on a discretionary basis. Clients may impose reasonable restriction on investing in certain securities, types of securities, or industry sectors. We manage these advisory accounts on a discretionary basis. Clients may impose reasonable restrictions on investing in certain securities, types of securities, or industry sectors. Once the client's portfolio has been established, we review the portfolio quarterly, and if necessary, rebalance the portfolio on an annual basis, based on the client's individual needs. Our investment recommendations are not limited to any specific product or service offered by a broker-dealer or insurance company and will generally include advice regarding the following securities:
• Exchange-listed securities
• Securities traded over-the-counter
• Foreign issuers
• Warrants
• Commercial paper
• Municipal securities
• Mutual fund shares
• United States governmental securities
• Options contracts on securities Because some types of investments involve certain additional degrees of risk, they will only be implemented when consistent with the client's stated

investment objectives, tolerance for risk, liquidity and suitability. MUTUAL FUND PORTFOLIO MANAGEMENT Sub-Adviser McGinn Investment Management is a sub-advisor to the Union Street Partners Value Fund. McGinn Investment Management (MIM) employs a long-term, large-cap value equity focused investment strategy. Purchases are often contrarian in nature, resulting in a portfolio of companies we believe trade significantly below intrinsic value. Investment decisions are based on a thorough analysis of a company’s core story and how that story will impact the company’s future earnings, cash flow and other pertinent financial ratios. Companies purchased traditionally have low price-to-earnings, price-to-book value, and price-to-cash flow ratios. Portfolio companies have a proven track record of success and what we believe to be sustainable competitive advantages. It is MIM’s belief that these companies will improve their financial ratios over a reasonable time frame based upon their historical ability to overcome adversity. MIM maintains a focused strategy, investing in only our best ideas. The Union Street Partners Value Fund follows the same investment strategy as outlined above. Exceptions to the primary investment strategy are rare but do exist. Interested investors should refer to the Mutual Fund's prospectus and Statement of Additional Information ("SAI") for important information regarding objectives, investments, time-horizon, risks, fees, and additional disclosures. These documents are available on-line at www.unionstreetvaluefund.com Prior to making any investment in the Mutual Fund, investors and prospective investors should carefully review these documents for a comprehensive understanding of the terms and conditions applicable for investment in the Mutual Fund. AMOUNT OF MANAGED ASSETS As of 12/31/2023, we were actively managing $162,621,483 of clients' assets on a discretionary basis.