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              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="U.S. BANK"/>
              </lineOfCreditInstitutions>
              <soleCreditType creditType="Sole"/>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="4178792.000000000000" daysCreditUsed="135"/>
            </lineOfCreditDetail>
            <lineOfCreditDetail>
              <isCreditLineCommitted>Committed</isCreditLineCommitted>
              <lineOfCreditSize>250000000.000000000000</lineOfCreditSize>
              <lineOfCreditInstitutions>
                <lineOfCreditInstitution creditInstitutionName="Bank of Nova Scotia"/>
              </lineOfCreditInstitutions>
              <soleCreditType creditType="Sole"/>
              <creditLineUsed isCreditLineUsed="Y" averageCreditLineUsed="193000000.000000000000" daysCreditUsed="365"/>
            </lineOfCreditDetail>
          </lineOfCreditDetails>
        </lineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>1919 Financial Services Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000046891</mgmtInvSeriesId>
        <mgmtInvLei>549300O5Y9GY1227P528</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000146530" sharesOutstandingTickerSymbol="SBFAX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000146531" sharesOutstandingTickerSymbol="SFSLX"/>
          <sharesOutstanding sharesOutstandingClassName="Class I" sharesOutstandingClassId="C000146534" sharesOutstandingTickerSymbol="LMRIX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>1919 Investment Counsel, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-63656</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000133370</investmentAdviserCrdNo>
            <investmentAdviserLei>25490074P0AZ35Z01A02</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-MD" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>U.S. Bancorp Fund Services, LLC</transferAgentName>
            <transferAgentFileNo>85-11357</transferAgentFileNo>
            <transferAgentLei>N1GZ7BBF3NP8GI976H15</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-WI" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank National Association</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>U.S. Bancorp Fund Services, LLC</adminName>
            <adminLei>N1GZ7BBF3NP8GI976H15</adminLei>
            <adminStateCountry adminState="US-WI" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Stifel, Nicolaus &amp; Company</brokerDealerName>
            <brokerDealerFileNo>8-01447</brokerDealerFileNo>
            <brokerDealerCrdNo>000000793</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-MO" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Keefe, Bruyette &amp; Woods, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-10888</brokerDealerFileNo>
            <brokerDealerCrdNo>000000481</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Miller Buckfire &amp; Co., LLC</brokerDealerName>
            <brokerDealerFileNo>8-52631</brokerDealerFileNo>
            <brokerDealerCrdNo>000104156</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Century Securities Associates, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-43514</brokerDealerFileNo>
            <brokerDealerCrdNo>000028218</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-MO" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Vining Sparks, IBG, LLC</brokerDealerName>
            <brokerDealerFileNo>8-43150</brokerDealerFileNo>
            <brokerDealerCrdNo>000027502</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-TN" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>RAYMOND JAMES &amp; ASSOCIATES INC.</brokerName>
            <brokerFileNo>8-10999</brokerFileNo>
            <brokerCrdNo>000000705</brokerCrdNo>
            <brokerLei>U4ONQX15J3RO8XCKE979</brokerLei>
            <brokerStateCountry brokerState="US-FL" brokerCountry="US"/>
            <grossCommission>8605.520000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>PIPER</brokerName>
            <brokerFileNo>8-68637</brokerFileNo>
            <brokerCrdNo>000145876</brokerCrdNo>
            <brokerLei>N/A</brokerLei>
            <brokerStateCountry brokerState="US-MN" brokerCountry="US"/>
            <grossCommission>5053.640000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>J.P.  Morgan Chase</brokerName>
            <brokerFileNo>8-35008</brokerFileNo>
            <brokerCrdNo>000000079</brokerCrdNo>
            <brokerLei>ZBUT11V806EZRVTWT807</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1952.000000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>MORGAN STANLEY &amp; CO. LLC</brokerName>
            <brokerFileNo>8-15869</brokerFileNo>
            <brokerCrdNo>000008209</brokerCrdNo>
            <brokerLei>9R7GPTSO7KV3UQJZQ078</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1832.000000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>MERRILL LYNCH INC.</brokerName>
            <brokerFileNo>8-7221</brokerFileNo>
            <brokerCrdNo>000007691</brokerCrdNo>
            <brokerLei>8NAV47T0Y26Q87Y0QP81</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1684.000000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>BARCLAY INVESTMENTS LLC</brokerName>
            <brokerFileNo>8-16935</brokerFileNo>
            <brokerCrdNo>000006159</brokerCrdNo>
            <brokerLei>254900YRC13GGERHVR90</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1510.000000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>UBS Financial Services Inc</brokerName>
            <brokerFileNo>8-16267</brokerFileNo>
            <brokerCrdNo>000008174</brokerCrdNo>
            <brokerLei>ETYRV6ORNFJB5NONI676</brokerLei>
            <brokerStateCountry brokerState="US-NJ" brokerCountry="US"/>
            <grossCommission>1359.520000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO</brokerName>
            <brokerFileNo>8-129</brokerFileNo>
            <brokerCrdNo>000000361</brokerCrdNo>
            <brokerLei>FOR8UP27PHTHYVLBNG30</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>1072.480000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>D.A. DAVIDSON &amp; CO.</brokerName>
            <brokerFileNo>8-2399</brokerFileNo>
            <brokerCrdNo>000000199</brokerCrdNo>
            <brokerLei>549300094RQ5A7DYLF51</brokerLei>
            <brokerStateCountry brokerState="US-MT" brokerCountry="US"/>
            <grossCommission>1000.000000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>WACHOVIA BANK N.A.</brokerName>
            <brokerFileNo>8-65876</brokerFileNo>
            <brokerCrdNo>000126292</brokerCrdNo>
            <brokerLei>VYVVCKR63DVZZN70PB21</brokerLei>
            <brokerStateCountry brokerState="US-NC" brokerCountry="US"/>
            <grossCommission>853.120000000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>25282.280000000000</aggregateCommission>
        <principalAggregatePurchase>0.000000000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>190455901.476000000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>1919 Maryland Tax-Free Income Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000046893</mgmtInvSeriesId>
        <mgmtInvLei>549300YNVDMAQJ6NVB42</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>3</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000146541" sharesOutstandingTickerSymbol="LMMDX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000146542" sharesOutstandingTickerSymbol="LMMCX"/>
          <sharesOutstanding sharesOutstandingClassName="Class I" sharesOutstandingClassId="C000146544" sharesOutstandingTickerSymbol="LMMIX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>Y</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>1919 Investment Counsel, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-63656</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000133370</investmentAdviserCrdNo>
            <investmentAdviserLei>25490074P0AZ35Z01A02</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-MD" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>U.S. Bancorp Fund Services, LLC</transferAgentName>
            <transferAgentFileNo>85-11357</transferAgentFileNo>
            <transferAgentLei>N1GZ7BBF3NP8GI976H15</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-WI" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank National Association</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>U.S. Bancorp Fund Services, LLC</adminName>
            <adminLei>N1GZ7BBF3NP8GI976H15</adminLei>
            <adminStateCountry adminState="US-WI" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Miller Buckfire &amp; Co., LLC</brokerDealerName>
            <brokerDealerFileNo>8-52631</brokerDealerFileNo>
            <brokerDealerCrdNo>000104156</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Century Securities Associates, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-43514</brokerDealerFileNo>
            <brokerDealerCrdNo>000028218</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-MO" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Keefe, Bruyette &amp; Woods, Inc.</brokerDealerName>
            <brokerDealerFileNo>8-10888</brokerDealerFileNo>
            <brokerDealerCrdNo>000000481</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Stifel, Nicolaus &amp; Company</brokerDealerName>
            <brokerDealerFileNo>8-01447</brokerDealerFileNo>
            <brokerDealerCrdNo>000000793</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-MO" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Vining Sparks, IBG, LLC</brokerDealerName>
            <brokerDealerFileNo>8-43150</brokerDealerFileNo>
            <brokerDealerCrdNo>000027502</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-TN" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.000000000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
            <principalLei>ZBUT11V806EZRVTWT807</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>20764550.000000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>TD SECURITIES INC.</principalName>
            <principalFileNo>8-36747</principalFileNo>
            <principalCrdNo>000018476</principalCrdNo>
            <principalLei>SUVUFHICNZMP2WKHG940</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>9965000.000000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>GOLDMAN SACHS &amp; CO</principalName>
            <principalFileNo>8-129</principalFileNo>
            <principalCrdNo>000000361</principalCrdNo>
            <principalLei>FOR8UP27PHTHYVLBNG30</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>8295000.000000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BARCLAY INVESTMENTS LLC</principalName>
            <principalFileNo>8-16935</principalFileNo>
            <principalCrdNo>000006159</principalCrdNo>
            <principalLei>254900YRC13GGERHVR90</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>4650000.000000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>CITIGROUP GLOBAL MARKETS INC.</principalName>
            <principalFileNo>8-8177</principalFileNo>
            <principalCrdNo>000007059</principalCrdNo>
            <principalLei>MBNUM2BPBDO7JBLYG310</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>3600000.000000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>R.B.C. DOMINION SECURITIES INC.</principalName>
            <principalFileNo>8-48314</principalFileNo>
            <principalCrdNo>000038035</principalCrdNo>
            <principalLei>549300QJJX6CVVUXLE15</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>2831774.500000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>WACHOVIA BANK N.A.</principalName>
            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
            <principalLei>VYVVCKR63DVZZN70PB21</principalLei>
            <principalStateCountry principalState="US-NC" principalCountry="US"/>
            <principalTotalPurchaseSale>2661459.700000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>FOLGER NOLAN FLEMING DOUGLAS INCORPORATED</principalName>
            <principalFileNo>8-3335</principalFileNo>
            <principalCrdNo>000000319</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-DC" principalCountry="US"/>
            <principalTotalPurchaseSale>1662094.200000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JANNEY MONTGOMERY SCOTT LLC</principalName>
            <principalFileNo>8-462</principalFileNo>
            <principalCrdNo>000000463</principalCrdNo>
            <principalLei>549300QQRY1JCFQHYS08</principalLei>
            <principalStateCountry principalState="US-PA" principalCountry="US"/>
            <principalTotalPurchaseSale>1553915.000000000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>DEUTSCHE BANK SECURITIES INC.</principalName>
            <principalFileNo>8-17822</principalFileNo>
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            <principalLei>9J6MBOOO7BECTDTUZW19</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
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        </principalTransactions>
        <principalAggregatePurchase>61121572.800000000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>77788314.767000000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>1919 Socially Responsive Balanced Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000046892</mgmtInvSeriesId>
        <mgmtInvLei>549300KVFT0GG6M9Z114</mgmtInvLei>
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        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class A" sharesOutstandingClassId="C000146537" sharesOutstandingTickerSymbol="SSIAX"/>
          <sharesOutstanding sharesOutstandingClassName="Class C" sharesOutstandingClassId="C000146539" sharesOutstandingTickerSymbol="SESLX"/>
          <sharesOutstanding sharesOutstandingClassName="Class I" sharesOutstandingClassId="C000146536" sharesOutstandingTickerSymbol="LMRNX"/>
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        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 22d-1 (17 CFR 270.22d-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>1919 Investment Counsel, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-63656</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000133370</investmentAdviserCrdNo>
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            <investmentAdviserStateCountry investmentAdviserState="US-MD" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>U.S. Bancorp Fund Services, LLC</transferAgentName>
            <transferAgentFileNo>85-11357</transferAgentFileNo>
            <transferAgentLei>N1GZ7BBF3NP8GI976H15</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-WI" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Thomson Reuters Pricing Service</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank National Association</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>U.S. Bancorp Fund Services, LLC</adminName>
            <adminLei>N1GZ7BBF3NP8GI976H15</adminLei>
            <adminStateCountry adminState="US-WI" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Miller Buckfire &amp; Co., LLC</brokerDealerName>
            <brokerDealerFileNo>8-52631</brokerDealerFileNo>
            <brokerDealerCrdNo>000104156</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Century Securities Associates, Inc.</brokerDealerName>
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            <brokerDealerCrdNo>000028218</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-MO" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Keefe, Bruyette &amp; Woods, Inc.</brokerDealerName>
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            <brokerDealerCrdNo>000000481</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Stifel, Nicolaus &amp; Company</brokerDealerName>
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            <brokerDealerCrdNo>000000793</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-MO" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Vining Sparks, IBG, LLC</brokerDealerName>
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            <brokerDealerCrdNo>000027502</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-TN" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>UBS FINANCIAL SERVICES INC.</brokerName>
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            <brokerCrdNo>000008174</brokerCrdNo>
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            <grossCommission>15824.120000000000</grossCommission>
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          <broker>
            <brokerName>MORGAN STANLEY &amp; CO. LLC</brokerName>
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            <brokerCrdNo>000008209</brokerCrdNo>
            <brokerLei>9R7GPTSO7KV3UQJZQ078</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>8294.260000000000</grossCommission>
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          <broker>
            <brokerName>J.P.  Morgan Chase</brokerName>
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            <brokerCrdNo>000000079</brokerCrdNo>
            <brokerLei>ZBUT11V806EZRVTWT807</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>5719.920000000000</grossCommission>
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          <broker>
            <brokerName>CFT SECURITIES, LLC</brokerName>
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            <brokerCrdNo>000046226</brokerCrdNo>
            <brokerLei>N/A</brokerLei>
            <brokerStateCountry brokerState="US-NJ" brokerCountry="US"/>
            <grossCommission>5582.670000000000</grossCommission>
          </broker>
          <broker>
            <brokerName>STRATEGAS SECURITIES LLC</brokerName>
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            <brokerCrdNo>000149326</brokerCrdNo>
            <brokerLei>254900D5NQ2O9DJLKH96</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>4480.280000000000</grossCommission>
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          <broker>
            <brokerName>CABRERA CAPITAL MARKETS, LLC</brokerName>
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            <brokerLei>254900BIRJU76JRBK985</brokerLei>
            <brokerStateCountry brokerState="US-IL" brokerCountry="US"/>
            <grossCommission>3472.860000000000</grossCommission>
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          <broker>
            <brokerName>GOLDMAN SACHS &amp; CO</brokerName>
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            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>3395.360000000000</grossCommission>
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          <broker>
            <brokerName>THE WILLIAMS CAPITAL GROUP, L.P.</brokerName>
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            <brokerCrdNo>000035149</brokerCrdNo>
            <brokerLei>254900QGK3PNRGR9BD85</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>3124.800000000000</grossCommission>
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          <broker>
            <brokerName>COWEN EXECUTION SERVICES LLC</brokerName>
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            <brokerCrdNo>000035693</brokerCrdNo>
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            <grossCommission>3114.160000000000</grossCommission>
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          <broker>
            <brokerName>LOOP CAPITAL MARKETS LLC</brokerName>
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            <brokerCrdNo>000043098</brokerCrdNo>
            <brokerLei>254900FPPM2WN90D4786</brokerLei>
            <brokerStateCountry brokerState="US-IL" brokerCountry="US"/>
            <grossCommission>2971.200000000000</grossCommission>
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        <aggregateCommission>63044.390000000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>J.P. MORGAN SECURITIES LLC</principalName>
            <principalFileNo>8-35008</principalFileNo>
            <principalCrdNo>000000079</principalCrdNo>
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          <principalTransaction>
            <principalName>BANC/AMERICA SECUR.LLC MONTGOMEY DIV</principalName>
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            <principalFileNo>8-65876</principalFileNo>
            <principalCrdNo>000126292</principalCrdNo>
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          <principalTransaction>
            <principalName>CITIGROUP GLOBAL MARKETS INC.</principalName>
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          <principalTransaction>
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          <principalTransaction>
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          <principalTransaction>
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            <principalTotalPurchaseSale>2348897.000000000000</principalTotalPurchaseSale>
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          <principalTransaction>
            <principalName>MORGAN STANLEY &amp; CO.  INC.</principalName>
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          <principalTransaction>
            <principalName>R.B.C. DOMINION SECURITIES INC.</principalName>
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            <principalCrdNo>000038035</principalCrdNo>
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            <principalTotalPurchaseSale>1038398.440000000000</principalTotalPurchaseSale>
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        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>768853589.253000000000</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>1919 Variable Socially Responsive Balanced Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000046894</mgmtInvSeriesId>
        <mgmtInvLei>549300L8GY8JIGE37F18</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>1</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
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        <fundTypes>
          <fundType>Underlying fund</fundType>
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        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>N/A</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>N/A</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>1919 Investment Counsel, LLC</investmentAdviserName>
            <investmentAdviserFileNo>801-63656</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000133370</investmentAdviserCrdNo>
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            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
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        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>U.S. Bancorp Fund Services, LLC</transferAgentName>
            <transferAgentFileNo>85-11357</transferAgentFileNo>
            <transferAgentLei>N1GZ7BBF3NP8GI976H15</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-WI" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Thomson Reuters Pricing Service</pricingServiceName>
            <pricingServiceLei>N/A</pricingServiceLei>
            <pricingServiceCountry>CA</pricingServiceCountry>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
          <pricingService>
            <pricingServiceName>ICE Data Pricing &amp; Reference Data, LLC</pricingServiceName>
            <pricingServiceLei>5493000NQ9LYLDBCTL34</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-DE" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
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            <custodianName>U.S. Bank National Association</custodianName>
            <custodianLei>6BYL5QZYBDK8S7L73M02</custodianLei>
            <custodianStateCountry custodianState="US-OH" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
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          <admin>
            <adminName>U.S. Bancorp Fund Services, LLC</adminName>
            <adminLei>N1GZ7BBF3NP8GI976H15</adminLei>
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            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Stifel, Nicolaus &amp; Company</brokerDealerName>
            <brokerDealerFileNo>8-01447</brokerDealerFileNo>
            <brokerDealerCrdNo>000000793</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-MO" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
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          <brokerDealer>
            <brokerDealerName>Keefe, Bruyette &amp; Woods, Inc.</brokerDealerName>
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            <brokerDealerCrdNo>000000481</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-NY" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
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          <brokerDealer>
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            <brokerDealerCrdNo>000028218</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-MO" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.000000000000</brokerDealerCommission>
          </brokerDealer>
          <brokerDealer>
            <brokerDealerName>Miller Buckfire &amp; Co., LLC</brokerDealerName>
            <brokerDealerFileNo>8-52631</brokerDealerFileNo>
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