Established in 1984, Wisconsin Capital Management, LLC (“WisCap” or the “firm”) primarily provides investment management services on a discretionary basis for the portfolios of individual and high net-worth individual clients, as well as to the Plumb Balanced Fund and the Plumb Equity Fund (collectively, the “Plumb Funds” or the “Funds”), each an investment company registered under the Investment Company Act of 1940, as amended. WisCap also provides portfolio recommendations to model accounts maintained at other financial institutions and on a limited basis provides business consulting services to other companies. WisCap is principally owned by TGP, Inc., which is wholly and directly owned by Thomas G. Plumb. Thomas G. Plumb is President of and Portfolio Manager for WisCap. See Item 8 for further risk factor information and Item 10 for further ownership and business affiliates information. Investment Management Services At the time of engagement, WisCap reviews each client’s financial assets, investment needs, tolerance for risk, and investment objectives. From this initial overview, WisCap and the client develop specific objectives and guidelines for WisCap to follow while managing the client’s portfolio. Upon request, clients may impose reasonable restrictions on certain assets or certain types of assets. WisCap thereafter exercises its discretion to determine what securities, when, and in what amounts to buy or sell for its client. Investment portfolios are diversified across various styles and strategies, and can consist of any combination of securities, including mutual funds, exchange-traded funds (“ETFs”), individual equity and fixed income securities, and/or other investments. Clients receive information about their accounts from WisCap no less than quarterly, unless otherwise directed. Upon request, WisCap will provide a new client with a complementary written initial financial plan that incorporates the client’s stated financial goals and objectives. In general, such written plans address the following areas: the client’s personal cash flow, taxes, education and/or retirement funding, and other investments. “Wrap” Account Advisory Services WisCap provides advisory services to clients in wrap fee programs that are sponsored by an unaffiliated bank or a broker-dealer (“wrap fee sponsor”). WisCap offers the same investment management strategies to clients in wrap fee programs as it does to any other client. In a wrap fee program, the client pays a bundled fee for an array of investment services, such as brokerage, advisory, research, custody, and management services. The client pays this bundled fee directly to the program sponsor, and WisCap receives a portion of it in payment for its services. As the client is a direct client of the program sponsor and the program sponsor recommends WisCap to the client,

WisCap is incented to not encourage the client to migrate accounts to non-wrap advised accounts. WisCap does not recommend its clients to enter into wrap fee programs; rather, it manages assets on behalf of select clients who have separately elected to participate in wrap fee programs. Model Portfolio Services WisCap offers models of portfolios following the investment process and holdings of select investment strategies to investment advisers, broker-dealers, or other financial institutions (collectively “Financial Institutions”) for a fee. WisCap offers to provide each Financial Institution with updated portfolio information at or near the same time it purchases or sells securities for WisCap clients. WisCap is not responsible for managing the Financial Institution’s client accounts; rather, each Financial Institution maintains investment discretion over its client accounts and is responsible for deciding whether to act upon these WisCap communications. The Financial Institution is eligible to purchase or sell securities at the same time, prior to or after WisCap purchases and sells those same securities for WisCap client accounts. While the resulting activity could have a positive or negative impact on WisCap’s ability to execute trades for WisCap’s clients, the securities in which WisCap invests on behalf of its clients are generally considered liquid in nature. As such, WisCap believes the impact (positive or negative) on client portfolios should be nominal under normal market conditions. Mutual Fund Services WisCap is the investment advisor to the Plumb Funds. WisCap will at times invest some or all of its clients’ accounts in the Funds. The Plumb Funds has granted WisCap the authority to affect securities transactions on the Funds’ behalf. WisCap uses its discretion to affect transactions that it believes will achieve the capital appreciation objective of the Plumb Balanced Fund, and the long-term capital appreciation objective of the Plumb Equity Fund. WisCap has managed the Funds since its inception, subject to the oversight of the Funds’ Board of Directors/Trustees. The Plumb Funds’ Prospectus contains additional information about each Fund and can be obtained by calling 1-866-987-7888. See Item 10 for additional information on WisCap’s business affiliates and its role in managing the Funds. Business Consulting Services WisCap (and specifically, Thomas G. Plumb) provides ongoing management consulting services to other businesses. The entities targeted for this service are not the type of companies WisCap considers for client investment purposes. The time spent on this service is de minimis (less than 5% of Mr. Plumb’s time). Assets Under Management As of 8/01/2023 WisCap Discretionary $222,062,463.88 WisCap Non-Discretionary $0