Heydorn|Stone Capital Management LLC is an independent Registered Investment Adviser (RIA) established in June 2001. The owner is Alana M. Stone. Heydorn|Stone Capital Management LLC (“Heydorn|Stone Capital Management”, “HSCM”, “we”, “us” or ‘our”) primarily offers discretionary investment management services to individuals for their individual investment portfolios, for trust accounts on which they are a named trustee, their various retirement plans such as IRAs, Roth IRAs, SEP IRAs or their pension or profit sharing plans, as well as for endowments, foundations and corporations. In addition, HSCM may provide financial planning and consulting services to its clients. Depending on a client’s needs these services could include comprehensive financial planning, retirement planning, planning for college funding, and client 401(k) plan option selection. Investment Management Services HSCM takes a client-centered approach to developing an investment strategy for each individual client with a focus on determining an appropriate asset allocation to help achieve the client’s financial goals. Individually tailored portfolios are structured based on the investment objectives, time horizon, cash flow needs, restrictions, and risk profile of the client as well as the value of assets under management. Based on the financial information provided by the client, HSCM assists the client in defining their investment goals. Upon review of this information, HSCM may recommend investment strategies and investment vehicles for the client. HSCM receives investment discretion to implement transactions in the client’s account in line with the objectives and strategy agreed upon. It is understood that HSCM provides investment advice to clients with varying objectives and that advice may vary in the timing or nature between clients. Investments in individual portfolios may include any combination of the following vehicles as appropriate for the client:
• Transaction fee or non-transaction fee mutual funds. Most HSCM clients hold non-transaction fee funds. Although, HSCM does buy transaction fee funds when beneficial to the client. These include: a. stock funds comprised of small, medium and large sized companies, both domestic and international, including developed and emerging economies, with varying investment strategies. b. bond funds comprised of US corporate, government, or municipal bonds of varying durations as well as international bond funds of both developed and emerging markets.

c. specialty mutual funds which focus on a particular area or sector of the market such as natural resources, commodities, etc.
• Individual US corporate, governments, municipal bonds, and traded bank certificates of deposits (CDs).
• Exchange Traded Funds (ETF) covering all of the above categories. ETFs are market traded baskets of stocks or bonds focusing on a specific index or sector of the market. These instruments are used to further diversify holdings in a portfolio. HSCM generally does not recommend individual stocks. However, if a client wishes to have a portfolio of individual stocks, HSCM is able to recommend an independent separate account manager from a broad array of styles and firms participating in Charles Schwab & Co., Inc. (Schwab) Separate Account Manager Program. A comprehensive review is performed of investment managers selected for this program. These firms are not affiliated with HSCM and are selected by HSCM based on their suitability in client accounts. Client accounts are managed by HSCM and manager changes are recommended by HSCM as appropriate. Individual stocks may also be transferred into a client's account at HSCM. It is the policy of HSCM to liquidate them as soon as practical to transition the account in accordance with the client’s strategy. If there are particular stocks that a client wishes to retain, we may accommodate them in an unmanaged account. Clients may impose reasonable restrictions on HSCM’s services which may include restrictions on investing in certain securities or types of securities. Discretionary assets under management as of December 31, 2023, were approximately $107,065,000 and non-discretionary assets under management were approximately $4,381,000. Financial Planning Services: Clients with at least $500,000 of assets under management may request a complimentary financial plan. The client provides HSCM with information regarding their current position in terms of investments, insurance, tax, retirement and estate planning. Upon completion of an analysis of the information provided, HSCM may recommend suitable financial planning and investment strategies. These recommendations may focus on one or more of the following areas:
• Comprehensive Financial Planning
• Investment Planning
• Retirement Planning
• College Planning HSCM provides the client with a written report of all the analysis and recommendations based on the extent of the plan required. Implementation of the recommendations is at the discretion of the client.