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      <managementInvestmentQuestion>
        <mgmtInvFundName>Ave Maria Rising Dividend Fund</mgmtInvFundName>
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        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
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            <investmentAdviserName>Schwartz Investment Counsel, Inc.</investmentAdviserName>
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            <transferAgentName>Ultimus Fund Solutions, LLC</transferAgentName>
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          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
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            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>Schwartz Value Focused Fund</mgmtInvFundName>
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        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
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        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>Y</isExpenseWaivedRecoupable>
        <investmentAdvisers>
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            <investmentAdviserName>Schwartz Investment Counsel, Inc.</investmentAdviserName>
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            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
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        <transferAgents>
          <transferAgent>
            <transferAgentName>Ultimus Fund Solutions, LLC</transferAgentName>
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            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-OH" transferAgentCountry="US"/>
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            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
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        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
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          <pricingService>
            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
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            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
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        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>US Bank National Association</custodianName>
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            <isCustodianAffiliated>N</isCustodianAffiliated>
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            <custodyType>Foreign custodian - rule 17f-5 (17 CFR 270.17f-5)</custodyType>
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        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>Ultimus Fund Solutions, LLC</shareholderServiceAgentName>
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            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
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        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Ultimus Fund Solutions, LLC</adminName>
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        <brokers>
          <broker>
            <brokerName>MORGAN STANLEY &amp; CO. LLC</brokerName>
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          <broker>
            <brokerName>CJS SECURITIES, INC.</brokerName>
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          <broker>
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            <brokerName>JONES TRADING INSTITUTIONAL SERVICES LLC</brokerName>
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            <brokerName>J.P. MORGAN SECURITIES LLC</brokerName>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>Ave Maria Value Fund</mgmtInvFundName>
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            <investmentAdviserName>Schwartz Investment Counsel, Inc.</investmentAdviserName>
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          <transferAgent>
            <transferAgentName>Ultimus Fund Solutions, LLC</transferAgentName>
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            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
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            <brokerName>STIFEL NICOLAUS  and  COMPANY INC</brokerName>
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            <brokerName>LOOP CAPITAL MARKETS LLC</brokerName>
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      <managementInvestmentQuestion>
        <mgmtInvFundName>Ave Maria Growth Fund</mgmtInvFundName>
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        <transferAgents>
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            <pricingServiceName>ICE Data Services, Inc.</pricingServiceName>
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            <grossCommission>1525</grossCommission>
          </broker>
          <broker>
            <brokerName>LOOP CAPITAL MARKETS LLC</brokerName>
            <brokerFileNo>008-50140</brokerFileNo>
            <brokerCrdNo>000043098</brokerCrdNo>
            <brokerLei>254900FPPM2WN90D4786</brokerLei>
            <brokerStateCountry brokerState="US-IL" brokerCountry="US"/>
            <grossCommission>37000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>387766.61</aggregateCommission>
        <principalAggregatePurchase>0</principalAggregatePurchase>
        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>863862282.8</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <attachmentsTab>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
    </attachmentsTab>
    <signature registrantSignedName="Schwartz Investment Trust" signedDate="2023-02-28" signature="Cathy Stoner" title="Chief Compliance Officer"/>
  </formData>
</edgarSubmission>
