SCHWARTZ & CO.

ADV Part 2A: Firm Brochure Schwartz & Co. 3707 West Maple Road Bloomfield Hills, MI 48301 (248) 644-2701 www.GJSCO.com March 15, 2026 This brochure provides information about the qualifications and business practices of Schwartz & Co (“Adviser”, the “Firm”, “we”). If you have any questions about the contents of this brochure, please contact us at (248) 644-2701. The information in this brochure has not been approved or verified by the United States Securities and Exchange Commission (“SEC”) or by any state securities authority. Additional information about Schwartz & Co. (CRD# 7294) is also available on the SEC’s website at www.adviserinfo.sec.gov Schwartz & Co. is registered as an investment adviser with the SEC. Registration does not imply a certain level of skill or training.  ITEM 2: MATERIAL CHANGES The following is a summary of material changes that have been made to our ADV Part 2A Firm Brochure since our last annual updating amendment, dated March 15, 2025: • Item 4: Advisory Business – This section has been updated to include language about the RBC Unified Portfolio (“RBC UP”) program. • Item 4: Advisory Business – This section has been updated to remove The Stag Group from the discretionary assets as the pooled investment fund has been closed. • Item 5: Fees and Compensation – This section has been updated to include language about the RBC Unified Portfolio (“RBC UP”) program fees. ADV Part 2A Firm Brochure 2 March 15, 2026  ITEM 3: TABLE OF CONTENTS Item 1: Cover Page .................................................................................................................................................... 1 Item 2: Material Changes .......................................................................................................................................... 2 Item 3: Table of Contents .......................................................................................................................................... 3 Item 4: Advisory Business ......................................................................................................................................... 4 Item 5: Fees and Compensation ................................................................................................................................ 8 Item 6: Performance-Based Fee and Side-by-Side Management ............................................................................ 10 Item 7: Types of Clients .......................................................................................................................................... 11 Item 8: Methods of Analysis, Investment Strategies and Risk of Loss ................................................................... 11 Item 9: Disciplinary Information ............................................................................................................................. 12 Item 10: Other Financial Industry Activities and Affiliations ................................................................................. 13 Item 11: Code of Ethics, Participation or Interest in Client Transactions and Personal Trading ............................ 14 Item 12: Brokerage Practices ................................................................................................................................... 15 Item 13: Review of Accounts .................................................................................................................................. 16 Item 14: Client Referrals and Other Compensation ................................................................................................ 16 Item 15: Custody ..................................................................................................................................................... 16 Item 16: Investment Discretion ............................................................................................................................... 16 Item 17: Voting Client Securities ............................................................................................................................ 17 Item 18: Financial Information ................................................................................................................................ 17 ADV Part 2A Firm Brochure 3 March 15, 2026  ITEM 4: ADVISORY BUSINESS Description of Advisory Firm Schwartz & Co., founded in 1976 by Gregory J. Schwartz, Sr., is an SEC registered investment adviser and licensed broker-dealer. Schwartz Holdings, LLC is the 100% owner of Schwartz & Co. Gregory J. Schwartz, Sr. serves as Chairman of the Board and his five sons, Gregory J. Schwartz, Jr., Walter G. Schwartz, Joseph E. Schwartz, Edward A. Schwartz, and Peter F. Schwartz serve as officers and principals. Types of Advisory Services Schwartz & Co. offers advisory and consulting services to individuals, high net worth individuals, institutional retirement plans, trusts, estates, charitable organizations, corporations, and other business entities. Wealth Management Services Schwartz & Co. provides ongoing advisory services to wealth management clients. Services may be provided on a discretionary or non-discretionary basis. Individualized client services are determined during initial conversations and updated over the course of the relationship as needed or requested by the client. Schwartz & Co. works closely with each client to determine the client’s needs, goals, objectives, time horizons, risk tolerance and any other relevant information. This information is used in developing an effective investment strategy suitable for the client. Prior to engaging Schwartz & Co. to provide advisory services, each client is required to enter into a written agreement with the Adviser that defines the terms, conditions, scope of services, discretionary/non-discretionary authority, advisory fees, and other important disclosures. Clients may impose reasonable restrictions on investing in certain securities, types of securities, or industry sectors. Based upon information provided by the client, and with the client’s input, we provide the following services: • Investment Objectives – Adviser will assist the client in determining investment goals and objectives along with the broad strategy or strategies to be employed. • Asset Allocation – Adviser will develop a strategic asset allocation that is targeted to meet the investment objectives, time horizon, financial situation, and tolerance for risk for each client. Adviser will provide ongoing monitoring of asset allocation to assess appropriateness of current holding mix. • Portfolio Construction – Adviser will develop a portfolio of investments for the client that is intended to meet the stated goals and objectives of the client. Based on the client’s situation and needs, Adviser may also provide initial or ongoing financial planning services to assist the client in meeting financial goals. Financial planning may address specific client needs such as retirement planning, tax planning, charitable planning, succession planning, risk management, education funding, major purchases, business planning and estate planning. These services are individually negotiated with the client and confirmed in the agreement. Adviser will monitor the client’s account on an ongoing basis and conduct periodic portfolio reviews with the client. Adviser will attempt to meet with clients at least annually to discuss the client’s investment needs, goals and objectives. Adviser will also review the client’s account performance and the continued suitability of investments. Clients must notify Schwartz & Co. promptly of any material change in financial circumstances or investment objectives which might affect the manner in which accounts should be invested. Certain types of investments involve additional degrees of risk and will only be recommended when consistent with the client's stated investment objectives, risk tolerance, and liquidity needs. ADV Part 2A Firm Brochure 4 March 15, 2026  Institutional Investment Advisory Services Schwartz & Co. provides ongoing advisory services to foundations and endowments. Our investment approach is designed to meet the client’s legal responsibilities and fiduciary standards of care. An initial data gathering process is completed in an effort to determine the client’s needs, goals, objectives, time horizons, risk tolerance and any other relevant information. Based upon information provided by the client, and with the client’s input, we will provide one or more of the following services: assist in the preparation of an investment policy statement investment selection and performance fiduciary compliance • • portfolio design • • With the client’s approval, the recommended investment policy statement will be implemented and monitored to help achieve the client’s investment objectives and goals. The services to be offered will be determined by the client and will be specifically outlined in the advisory agreement. Retirement Plan Advisory and Consulting Services Schwartz & Co. provides ongoing advisory and consulting services to retirement plans pursuant to The Employee Retirement Income Security Act of 1974 (“ERISA”). Services include both fiduciary and non-fiduciary services to the Plan Sponsor and the participants of the Plan. Services may be provided on a non-discretionary basis (ERISA 3(21) Fiduciary) or on a discretionary basis (ERISA 3(38) Fiduciary). Advisory services are negotiated based on the needs of the Plan and are included in the terms of the advisory agreement. Schwartz & Co.’s retirement plan services may include, but are not limited to, the following services: a. Fiduciary Advisory Services When providing advisory services to retirement plans covered under ERISA, we acknowledge our status as a fiduciary under Section 3(21) and we will act solely in the interests of plan participants and beneficiaries with the degree of diligence, care, and skill that a prudent person rendering similar services would exercise under similar circumstances. Schwartz & Co. provides the following fiduciary advisory services: • • • Investment Policy Statement. Adviser will assist in the preparation or review of an investment policy statement (“IPS”) for the Plan based upon consultation with the client. Investment Recommendations. Adviser will recommend, for consideration and selection by the client, specific investments to be held by the Plan or, in the case of a participant-directed defined contribution plan, to be made available as investment options under the Plan. Adviser may also recommend investment replacements if an existing investment is determined to no longer be a suitable option. Investment Monitoring. Adviser will perform ongoing monitoring of investment options in relation to the criteria provided by the client. • • Performance Reporting. Adviser will prepare periodic reports reviewing the performance of all Plan Investment options, as well as comparing the performance thereof to benchmarks with the client. The information used to generate the reports will be derived from information such as statements provided by the client, investment providers and/or third parties. Investment Education. Adviser will provide education for plan sponsor and plan participants regarding asset classes and types of investments available to the plan. • Participant Education. Adviser will provide participant education services tailored to the specific needs of the organization. Adviser will assist plan participants in the enrollment process and answer questions during group meetings and one-on-one consultations. • Discretionary Advisory Services (ERISA 3(38) Fiduciary) ADV Part 2A Firm Brochure 5 March 15, 2026  b. Non-Fiduciary Consulting Services In addition to the fiduciary services described above, Schwartz & Co. offers the following non-fiduciary services solely in a capacity that is not considered a fiduciary under ERISA or any other applicable law. Retirement plan clients may select one or more of the following services: • Benchmarking. Adviser will benchmark investment performance of plan assets vs. similar investment alternatives. • Plan Due Diligence. Adviser will assist plan sponsors in evaluating plan service providers and third-party administrators, including reviewing fees and plan expenses. We may also consult with the plan sponsor in the areas of plan design, administration, and provider due diligence, request for proposals, fee negotiations, enrollment packages, and fiduciary responsibilities. The services to be offered will be determined by the client and will be specifically outlined in the advisory agreement. Retirement Accounts – Fiduciary Acknowledgement and Rollover Considerations When we provide investment advice to you regarding your retirement plan account or individual retirement account, we are fiduciaries within the meaning of Title I of the Employee Retirement Income Security Act and/or the Internal Revenue Code, as applicable, which are laws governing retirement accounts. Regarding any potential for conflicts of interest, we operate under a special rule that requires us to act in your best interest and not put our interests ahead of yours. Under this special rule’s provisions, we must: • Meet a professional standard of care when making investment recommendations (give prudent advice); • Never put our financial interests ahead of yours when making recommendations (give loyal advice); • Avoid misleading statements about conflicts of interest, fees, and investments; • Follow policies and procedures designed to ensure that we give advice that is in your best interest; • Charge no more than is reasonable for our services; and • Give you basic information about conflicts of interest. A recommendation to roll over your assets from a retirement plan to an account managed by Schwartz & Co. creates a conflict of interest, as we will earn advisory fees as a result of the rollover. There is no obligation for you to roll over your retirement account to an account managed by Schwartz & Co. Financial Planning & Consulting Services Schwartz & Co. provides a variety of financial planning and consulting services to clients on a one-time or ongoing basis. Financial planning services will typically involve preparing a financial plan or providing a general financial consultation based upon an analysis of the client’s current financial situation, goals, and objectives. Depending on the client needs, planning or consulting services may include: identification of financial problems, cash flow and budget analysis, tax planning, social security planning, risk exposure review, education funding, retirement planning, charitable planning, special needs planning, business management, buy-out negotiations, review of client’s benefits package, and life insurance and disability insurance planning. These services may also include other areas that are specific to the client. Schwartz & Co. reserves the right to decline to provide advice about issues and topics outside its area of expertise. At the client's request, we may provide recommendations as to other sources of professional advice to address such matters. All services to be provided will be clearly defined in the Financial Planning or Consulting Agreement. Financial plans provided to clients usually include general recommendations for a course of action to be taken by the client. Financial planning recommendations can pose a conflict between the interests of the Adviser and the interests of the client. Clients are not obligated to implement any recommendations made by the Adviser. ADV Part 2A Firm Brochure 6 March 15, 2026  RBC Unified Portfolio (“RBC UP”) – third-party discretion RBC UP is a unified managed account (“UMA”) program through which accounts are managed by RBC Capital Markets (“RBC”) as overlay manager or an unaffiliated third-party overlay manager, Envestnet Asset Management, Inc. (“Envestnet”). The overlay manager manages the account on a discretionary basis through investments in mutual funds, ETPs, and/or in accordance with one or more model portfolios, provided by Model Providers or RBC, all in a single account, according to the client’s investment strategy. Schwartz & Co. will work with the client to determine the client’s goals, objectives, risk profile, and any other relevant information. The Adviser will recommend an appropriate investment strategy based on the information provided. The investment strategy may be invested in a Model Portfolio or an investment allocation that assigns a percentage of the account's overall value to cash, Mutual funds, ETFs and/or Model Portfolios. The investment allocation may be modified by notifying Schwartz & Co. of the changes. By selecting the RBC UP program and signing the Advisory Master Services Agreement, the overlay manager will have discretion to determine the securities to be bought or sold within the client’s account. Client accounts are reviewed regularly by the overlay manager and rebalanced on a discretionary basis to ensure the client’s account does not deviate from the selected investment strategy. The Adviser will monitor the client’s account on an ongoing basis and conduct periodic reviews with the client. The Adviser will attempt to meet with the client at least annually to discuss the client’s investment needs, goals and objectives. The Adviser will also review the performance of the account to ensure continued suitability of the investment strategy. Clients must notify Schwartz & Co. promptly of any material changes in financial circumstances or investment objectives which might affect the manner in which the account should be invested. In determining whether to participate in RBC UP, clients should be aware that RBC UP is a wrap fee program sponsored by RBC, where custody and brokerage fees are included in the total advisory fee charged to the client. The overall cost to the client may be higher or lower than what the client might incur by separately purchasing the types of securities available in the program. For additional information about the RBC UP Program, please review the ADV Part 2A Wrap Fee Program Brochure and the Advisory Master Services Agreement provided by RBC. Specific Types of Investments Schwartz & Co. generally provides investment advice on the following types of investments: equity securities, corporate debt securities, municipal securities, United States government securities, exchange traded funds (ETFs), certificates of deposits, interests in real estate partnerships and investment company securities such as mutual fund shares, variable annuities, and variable life insurance. We have access to a full array of investment vehicles and our investment recommendations are not limited to any specific product or service. Tailored Advisory Services & Restrictions Advisory services are tailored to the individual needs of the client. Client goals and objectives are clarified in meetings and via correspondence and are used to determine the course of action for each individual client. The goals and objectives for each client are documented in client files, either in hard copy or in electronic files. Clients may impose restrictions on investing in certain securities or types of securities. This must be done in writing and signed by the client and the investment adviser representative working with the client. Each client is advised that it remains his/her responsibility to promptly notify Schwartz & Co. when there is any change in his/her financial situation and/or financial objectives for the purpose of reviewing, evaluating, or revising previous recommendations and/or services. ADV Part 2A Firm Brochure 7 March 15, 2026  Wrap Fee Programs Schwartz & Co. does not participate in any wrap fee programs. Assets Under Management As of December 31, 2025, Schwartz & Co. had $10,489,459,567 in assets under management, of which $180,596,727 was managed on a discretionary basis and $10,308,862,840 was managed on a non-discretionary basis. ITEM 5: FEES AND COMPENSATION Fees for Advisory Services Schwartz & Co. offers advisory services under various fee arrangements. The extent of advisory services offered, fee schedules, and billing arrangements have been modified over the years. As such, some existing clients have contracts in place with older fee arrangements and differing billing arrangements. Under certain circumstances Schwartz & Co. may approve a billing methodology that differs from those described below, such as when third- party managed accounts are used, when third-party administrators are used for retirement plans, or upon request from the client. The specific manner in which fees are charged by the Adviser is established in a client’s written agreement with the Adviser. Wealth Management & Institutional Advisory Fees Fees for wealth management and institutional advisory services are based on an annual percentage of assets under management. Fees are negotiable and may vary on a client-by-client basis depending on the amount of assets under management, the nature and complexity of the client’s situation, the extent of services to be provided, and the complexity of the portfolio and investment strategy. The maximum annual fee for such services is 1.5% or 150 basis points. Schwartz & Co. reserves the right to negotiate fees and may charge a lower fee than the maximum fee described herein. The client’s specific fee will be included in the Agreement between Schwartz & Co. and the client. Fees are calculated based on the market value of the assets under management and billed quarterly or monthly, in arrears, in accordance with the terms of the Agreement. The initial advisory fee will be prorated from the date of engagement through the end of the quarter or month. Clients may elect to be billed directly for fees or to authorize the Adviser to directly debit fees from their account. Generally, clients elect to have fees deducted directly from their account, pursuant to the client’s written authorization. If the client elects to be billed directly, Schwartz & Co. will send a billing invoice to the client and the client agrees to remit payment to Schwartz & Co. within 30 days of receipt of the invoice. Retirement Plan Services Fees for the fiduciary and non-fiduciary services provided to the plan are based on an annual percentage of assets under management. Flat dollar compensation arrangements are utilized in selected instances. Fees are negotiable and vary based on the nature and scope of services provided, the level of fiduciary responsibility assumed, the complexity and size of the plan, and other unique characteristics of the engagement. The maximum annual fee for such services is 1.0% or 100 basis points. Fees are determined at the time of engagement and are specifically outlined in the client’s service agreement. Fees are calculated based on the total fair market value of plan assets under management and billed quarterly or monthly, in arrears, in accordance with the terms of the service Agreement. Fees for the initial quarter or month will be prorated based on the number of days services are provided to the plan. Schwartz & Co. believes its fees ADV Part 2A Firm Brochure 8 March 15, 2026  are fair and reasonable based on the services provided to plan sponsor. Fees charged by other advisers may be higher or lower than those charged by Schwartz & Co. for similar services. The plan may be subject to other fees and charges imposed by account custodians, third party administrators, and recordkeepers. These fees are separate and distinct from advisory fees charged by Schwartz & Co. The plan custodian or third- party administrator should send account statements to the plan sponsor at least quarterly, which show all fees charged to plan accounts. Clients may elect to be billed directly for fees or to authorize the Adviser to directly debit fees from plan assets. Generally, clients elect to have fees deducted directly from the plan, pursuant to the client’s written authorization. If the client elects to be billed directly, Schwartz & Co. will send a billing invoice to the plan sponsor and the plan sponsor agrees to remit payment to Schwartz & Co. within 30 days of receipt of the invoice. Financial Planning & Consulting Services Fees for financial planning and consulting services may be charged at an hourly or at a fixed fee rate. Fees are determined at the time of engagement and are specifically outlined in the client’s Agreement. RBC Unified Portfolio (“RBC UP”) The RBC UP Program Fee is comprised of the following fee components: 1) fee for services provided by Schwartz & Co., 2) Program Sponsor fee payable to RBC, 3) fee for Model Providers, and 4) fee for overlay manager. The Program fee structure may vary depending on the Program and services selected. The Program Fee is calculated as a percentage of assets under management, including securities, cash, money market funds, RBC Insured Deposits balances, and the full value of any assets purchased on margin. Program Fees are calculated on a quarterly basis, in advance, based on the market value of the billable assets as of the last business day of the preceding calendar quarter. Program Fees will be prorated for any partial billing period based on the number of days services were provided. The quarterly Program fee will be deducted directly from the account by RBC, the custodian, unless the client elects to be billed directly or have the fees deducted from another account held by RBC, provided the account is not a retirement account. RBC will retain its fees (which will include advisory fees, program sponsor fees and/or custodial fees), the overlay manager’s fee, and the Model Provider’s fee, and the remaining portion will be paid to Schwartz & Co. The client must authorize RBC to deduct the Program fees from the client’s account. For additional information about the RBC UP Program fees, please review the ADV Part 2A Wrap Fee Program Brochure and the Advisory Master Services Agreement provided by RBC. Other Types of Fees & Expenses Clients may incur certain fees and expenses charged by the custodian such as custodial fees, transfer taxes, wire transfer fees, or electronic fund fees. Please refer to Item 12 – Brokerage Practices for additional information. All fees paid to Schwartz & Co. for investment advisory services are separate and distinct from the fees and expenses charged by mutual funds to their shareholders. These fees and expenses are described in each fund’s prospectus. These fees will generally include management fees, other fund expenses, and possibly a distribution fee. Clients should review the fees charged by the mutual funds and the fees charged by Schwartz & Co. for investment advisory services to fully understand the total fees to be paid by the client. Exchange-Traded Funds (ETFs) incur a separate management fee, typically referred to as the “expense ratio.” The expense ratio is an annual percentage of the fund’s assets which is assessed by the fund directly. This ADV Part 2A Firm Brochure 9 March 15, 2026  management fee is in addition to the ongoing advisory fee assessed by Schwartz & Co. Details regarding these fees can be found in the ETF’s prospectus. Prepaid Fees, Refunds, Termination Clients may terminate their contract by providing written notice as outlined in the Agreement. Upon termination of any account, any prepaid, unearned fees will be promptly refunded, and any earned, unpaid fees will be due and payable. Adviser will prorate the fee to the effective date of termination and debit any earned portion from the client’s account or bill the client, depending on the terms of the Agreement. The effective date of termination will be set according to the terms of the advisory agreement and/or any special instructions from the client. Other Compensation Several investment adviser representatives (IAR) are also registered representatives of Schwartz & Co., an SEC registered broker-dealer and member of FINRA. In their separate capacity as a registered representative, the IAR will receive commission-based compensation in connection with the purchase and sale of securities, including 12b-1 fees for the sale of investment company products. Commissions generated by such securities transactions do not offset regular advisory fees. This practice presents a conflict of interest because the IAR has an incentive to recommend securities transactions for the purpose of generating commissions rather than based solely on the Client’s needs. IARs will only recommend securities transactions that they believe are suitable and in the best interest of the client. Clients are under no obligation to implement any recommendation provided by the IAR and may seek similar services elsewhere. Neither the Adviser nor the IAR will earn ongoing investment advisory fees in connection with any products or services implemented in the IAR’s separate capacity as a registered representative. Schwartz & Co. is affiliated with Schwartz Benefit Services, LLC, an insurance agency under common ownership that provides life and health insurance products and fixed annuities to clients. Certain IARs of Schwartz & Co. are licensed as insurance agents with Schwartz Benefit Services, LLC. These IARs may also be licensed with Schwartz & Co. broker-dealer to offer variable insurance products. In their separate capacity as an insurance agent, the IAR will receive commissions from the various insurance companies whose products are sold. Commissions generated by insurance sales do not offset regular advisory fees. This presents a conflict of interest because there is an incentive to recommend insurance products for the purpose of generating commissions, rather than the client's needs. IARs will only recommend insurance products that they believe are suitable and in the best interest of the client. Clients are not obligated to purchase any insurance products or implement any recommendation provided by the IAR and may seek similar services elsewhere. Neither the Adviser nor the IAR will earn ongoing investment advisory fees in connection with any products or services implemented in the IAR’s separate capacity as an insurance agent. In limited situations, Schwartz & Co. may be hired as the broker of record for a variable annuity that was purchased by a client through a different registered representative at a different broker-dealer. This advisory service is separate and distinct from the initial transaction to purchase the annuity. Schwartz & Co. may charge an advisory fee for this service. Schwartz & Co. addresses this conflict through disclosure and does not charge advisory fees on assets that the IAR, acting in their capacity as a registered representative, receives ongoing brokerage compensation. Clients are under no obligation to implement any recommendation provided by the Adviser or the IAR. Please see Item 10 – Other Financial Industry Activities and Affiliations for more information. ITEM 6: PERFORMANCE-BASED FEE AND SIDE-BY-SIDE MANAGEMENT Performance-based fees are fees calculated based on a share of capital gains or capital appreciation of the assets of a client. Schwartz & Co. does not charge performance-based fees with respect to any advisory services offered. ADV Part 2A Firm Brochure 10 March 15, 2026  ITEM 7: TYPES OF CLIENTS Schwartz & Co. generally provides advisory and consulting services to individuals, high net worth individuals, institutional retirement plans, trusts, estates, charitable organizations, corporations, and other business entities. We do not stipulate any minimum requirements to become a client of Schwartz & Co. ITEM 8: METHODS OF ANALYSIS, INVESTMENT STRATEGIES AND RISK OF LOSS Methods of Analysis and Investment Strategies Schwartz & Co. employs analytical tools and investment strategies to assist in formulating our investment advice to clients. The methods of analysis utilized by Schwartz & Co. include: 1) Fundamental Analysis – which measures the intrinsic value of an investment as determined by economic, financial and other quantitative and qualitative factors, and 2) Cyclical Analysis – which involves finding cycles and patterns in the market. The primary sources for these analytics include: Financial publications, Morningstar, research materials prepared by third-parties, annual reports, prospectuses, presentations, newsletters, and commentary from investment managers at fund companies, and filings with the Securities and Exchange Commission We utilize the above analytics and apply our firm’s investment strategies of diversity, long-term and short-term purchasing, and consider investor criteria of time horizon, need for short-term liquidity, and risk tolerance to determine what investments are best suited to the individual investor. These strategies come with risk: Long-term purchases: Long-term purchases are made with the intent of holding on to the security for a minimum of 12 months. Such purchases may be made when securities are believed to be undervalued and anticipated to appreciate over time. The inherent risk involved with long-term purchases is the possibility of our projection being incorrect and experiencing a decrease in the value of the security before deciding to sell. Another risk is the possibility of missing out on short-term gains. Short-term purchases: Short-term purchases are made with the intent of selling the security within the next 12 months. The idea is to take advantage of projected increases in a security’s value that will ultimately result in a profit. An obvious risk of short-term purchases is the potential for loss should the projected increase in value not materialize. Another risk or disadvantage of short-term purchases is increased transaction related expenses due to increased trading. Diversification: Diversification is a means to minimize investment risk by allocating assets into various areas of the market, such as large cap, mid cap, or small cap. If applied incorrectly, investors could find they are invested in differently titled mutual funds, for example, but those mutual funds could hold similar holdings, hence not providing them true diversification in the market. It is Schwartz & Co.’s philosophy to be long-term invested. While changes in funds can and will occur, our investment strategy is primarily focused on a long-term approach. Tax considerations may or may not factor into changes in a portfolio (i.e. harvesting losses). Our overall strategy includes focusing on good performing investment vehicles that are cost effective compared to the benchmark for that given asset class. We focus on an overall diversified approach, to minimize client risk by allocating assets and not overlapping the various areas of the market. Risk of Loss Our advisers exercise great care to make sure that the client is aware of the specific risk of each distinctive investment strategy that will be used. Investing in securities involves risk of loss which the client should be ADV Part 2A Firm Brochure 11 March 15, 2026  prepared to bear. While Schwartz & Co. uses investment strategies that are designed to reduce risk through diversification, some investments have significantly greater risks than others. Obtaining higher rates of return on investments entails accepting a higher level of risk. Our investment strategies seek to balance risk and reward to achieve a client’s investment objectives. Schwartz & Co. does not represent, guarantee, or imply that its services or methods of analysis can or will predict future results, successfully identify market tops or bottoms, or shield clients from losses due to market corrections or declines. Past performance is in no way an indication of future performance. While our investment approach always keeps the risk of loss in mind, clients should understand that they may face the following investment risks: • Interest Rate Risk – The chance that bond prices overall will decline because of rising interest rates. Fluctuations in interest rates can cause investment prices to fluctuate. For example, when interest rates rise, yields on existing bonds become less attractive, causing their market values to decline. • Market Risk – Stock and bond markets can decline in reaction to tangible or intangible events and • conditions. This type of risk is caused by external factors independent of a security’s particular underlying circumstances. Inflation Risk – When any type of inflation is present, a dollar will be worth more today than a dollar next year, because purchasing power is eroding at the rate of inflation. • Currency Risk – Overseas investments are subject to fluctuations in the value of the dollar against the currency of the investment’s originating country. This is also referred to as exchange rate risk. • Reinvestment Risk – This is the risk that future proceeds from investments may have to be reinvested at a potentially lower rate of return (i.e., interest rate). This primarily relates to fixed income securities. • Manager Risk – The investment strategies, research, analysis and the determination of a portfolio’s securities by Schwartz & Co. or the third-party asset manager will not always be successful. The risk of loss due to allocations in the various assets can cause the client’s account to underperform relative to benchmarks or other accounts with a similar investment objective. • Business Risk – This risk is associated with a particular industry or company within an industry. • Liquidity Risk – Liquidity is the ability to readily convert an investment into cash. Generally, assets are more liquid if many traders are interested in a standardized product. For example, Treasury Bills are highly liquid, while real estate properties are not. • Concentration Risk – Client accounts will be diversified to varying degrees based on the strategy or model portfolio selected for their portfolio. To the extent a client invests a significant portion of their assets in a single underlying fund or asset class, it will be particularly sensitive to the risk associated with concentration. • Cybersecurity Risk – Failures or breaches of the electronic systems of Schwartz & Co., our services providers, securities market participants, or the issuers of securities can cause significant losses for investors. Unintentional cyber events, such as the inadvertent release of confidential information, could also adversely impact investor accounts. Any cyber event could result in the loss or theft of investor data or cause investors financial loss and expense. ITEM 9: DISCIPLINARY INFORMATION As a registered investment adviser, we have no legal or disciplinary events to disclose. There are no convictions of theft, fraud, bribery, perjury, forgery, counterfeiting, extortion, or violations of law. As an adviser we will disclose any legal or disciplinary events that are material to a client’s evaluation of our advisers or management personnel, as well as any inabilities to meet contractual commitments to clients. ADV Part 2A Firm Brochure 12 March 15, 2026  ITEM 10: OTHER FINANCIAL INDUSTRY ACTIVITIES AND AFFILIATIONS Other Financial Industry Activities Broker-Dealer/Registered Representatives In addition to being a registered investment adviser with the SEC, Schwartz & Co. is also a registered broker- dealer and member of FINRA. Most IARs are also registered representatives of Schwartz & Co. In their separate capacity as a registered representative, the IAR will receive commission-based compensation in connection with the purchase and sale of securities, including 12b-1 fees for the sale of investment company products. Commissions generated by such securities transactions do not offset regular advisory fees. This practice presents a conflict of interest because the IAR has an incentive to recommend securities transactions for the purpose of generating commissions rather than based solely on the Client’s needs. Schwartz & Co. addresses this conflict through disclosure and does not charge advisory fees on any assets where the IAR, acting in their capacity as a registered representative, receives commission-based compensation. IARs will only recommend securities transactions that they believe are suitable and in the best interest of the client. Clients are under no obligation to implement any recommendation provided by the IAR and may seek similar services elsewhere. Neither the Adviser nor the IAR will earn ongoing investment advisory fees in connection with any products or services implemented in the IAR’s separate capacity as a registered representative. Other Financial Industry Affiliations Insurance Agency/Insurance Agents Schwartz & Co. is affiliated with Schwartz Benefit Services, LLC, an insurance agency under common ownership that provides life and health insurance products and fixed annuities to clients. Certain IARs of Schwartz & Co. are licensed as insurance agents with Schwartz Benefit Services, LLC. These IARs may also be insurance licensed with Schwartz & Co. broker-dealer to offer variable insurance products. In their separate capacity as an insurance agent, the IAR will receive commissions from the various insurance companies whose products are sold. Commissions generated by insurance sales do not offset regular advisory fees. This presents a conflict of interest because there is an incentive to recommend insurance products for the purpose of generating commissions, rather than the client's needs. IARs will only recommend insurance products that they believe are suitable and in the best interest of the client. Clients are not obligated to purchase any insurance products or implement any recommendation provided by the IAR and may seek similar services elsewhere. Neither the Adviser nor the IAR will earn ongoing investment advisory fees in connection with any products or services implemented in the IAR’s separate capacity as an insurance agent. Mi BANK (MiCommunity Bancorp, Inc.) Mi BANK is a full-service community bank located within the same office building as Schwartz & Co. MiCommunity Bancorp, Inc. is a holding company for Mi BANK. Certain principals and IARs of Schwartz & Co. have investment interests in MiCommunity Bancorp, Inc. Two of these individuals are organizers and founding members and currently serve on the Board of Directors for MiCommunity Bancorp, Inc. and Mi BANK. Several owners/principals of Schwartz & Co. also have investment interests in the following limited liability companies, which own interests in senior housing rental facilities: Baldwin House Holdings, LLC (Baldwin SFG Investors, LLC), SFG Spring Lake, LLC (AH Spring Lake/Southgate Investors, LLC), SFG Southgate, LLC (AH Spring Lake / Southgate Investors, LLC), and SFG Grand Rapids, LLC (AH Grand Rapids Investors, LLC). Clients should be aware that the ability to receive additional compensation by our Firm and its management persons or employees creates conflicts of interest that impair the objectivity of the Firm and these individuals when making advisory recommendations. Our Firm endeavors at all times to put the interest of its clients first as part of our fiduciary duty as a registered investment adviser; we take the following steps, among others, to address this conflict: ADV Part 2A Firm Brochure 13 March 15, 2026  • we disclose to clients the existence of all material conflicts of interest, including the potential for the Firm and our employees to earn compensation from advisory clients in addition to the Firm’s advisory fees; • we disclose to clients that they have the right to decide whether to purchase recommended investment products from our employees; • we collect, maintain and document accurate, complete and relevant client background information, • including the client’s financial goals, objectives, and risk tolerance; the Firm conducts regular reviews of each client advisory account to verify that all recommendations made to a client are in the best interest of the client’s needs and circumstances; • we require that our employees seek prior approval of any outside employment activity so that we may ensure that any conflicts of interests in such activities are properly addressed; • we periodically monitor these outside employment activities to verify that any conflicts of interest continue to be properly addressed by the Firm; and • we educate our employees regarding the responsibilities of a fiduciary, including the need for having a reasonable basis for the investment advice provided to clients. Investment Adviser Recommendations Our firm does not recommend or select other investment advisers for our clients; thus, we do not receive compensation from other advisers. ITEM 11: CODE OF ETHICS, PARTICIPATION OR INTEREST IN CLIENT TRANSACTIONS AND PERSONAL TRADING Code of Ethics Schwartz & Co. has adopted a code of ethics pursuant to rule 204A-1 under the Investment Advisers Act of 1940 as amended (The “Adviser Act”) pursuant to Section 406 of the Sarbanes-Oxley Act of 2002. The “Code of Ethics” states: 1. The officers and owners of the company will 1) foster a corporate culture of ethical conduct and high integrity, 2) promote that full, accurate, and timely documentation be provided to investors, 3) not knowingly misrepresent facts about the company to auditors or regulators of the industry. 2. All personnel at Schwartz & Co. will 1) have the highest degree of honesty, integrity and professionalism, 2) adhere to the code of ethics, 3) always hold client interests as first priority, 4) not knowingly misrepresent facts, 5) provide fair and accurate disclosures, 6) comply with the rules of the industry, 7) strive to improve their competence, 8) safeguard personal client information, 9) not accept extravagant gifts or entertainment, 10) avoid conflicts of interest. A copy of the code of ethics will be provided to any client or prospective client upon request. Client Transactions and Personal Trading Registered representatives of our firm do affect securities transactions for clients, for commissions. This occurs in instances where we are not serving in an advisory role. Such transactions are conducted in adherence with the applicable prospectuses which are given to investors. As a firm, we recommend investment products such as: (1) publicly registered mutual funds; and (2) private placement investment units, which invest in senior housing, where principals of Schwartz & Co. have an ownership interest in the LLC’s that offer the private placement investment units. We recommend these investments to broker-dealer clients and individual advisory clients. We do not recommend these investments to institutional/retirement plan broker-dealer clients or institutional/retirement plan advisory clients. Should an advisory client wish to invest in these products, such transactions will be conducted in adherence with the ADV Part 2A Firm Brochure 14 March 15, 2026  applicable offering memorandum. Owners and employees of the firm do have a financial interest in the investment products listed above. Our investment professionals occasionally buy and sell the same securities that they recommend to clients, which most commonly are mutual fund shares. Such transactions take place in adherence with the applicable prospectuses and under the trading rules and guidelines as set forth by the regulatory agencies. ITEM 12: BROKERAGE PRACTICES Schwartz & Co., as a dual registered investment adviser and broker-dealer, has the ability to offer brokerage services to our investment advisory clients. We do not require our clients to utilize our brokerage services. We disclose our affiliation in advance of the client agreement and give clients the option to utilize another broker- dealer to execute transactions. As a normal course of business, retail advisory clients choose to utilize the brokerage of the firm, however, retirement clients mainly utilize outside brokerage. We have a fiduciary duty to execute securities transactions in such a manner that the client’s total cost or proceeds in each transaction is the most favorable under the circumstances. Our firm, under the broker-dealer, has partnered with RBC Capital Markets, LLC, for trade execution. We acquire from RBC Capital Markets, LLC regular and rigorous reviews of their trading execution platforms to monitor that they execute transactions as favorably for our clients as possible. Favorable determination of a trade does not necessarily mean the lowest possible commission cost, but whether the transaction represents the best qualitative execution (i.e. the best price, fulfillment of the order, and speed in executing the trade). If a client wishes for us to select or refer a broker-dealer that is not our own, we have a fiduciary duty to select a broker-dealer to execute a particular trade which will provide “best execution” for the client. By directing brokerage away from our firm, we may be unable to achieve the most favorable execution of client transactions and that this practice may cost clients more money. Should a client insist we utilize a specific broker-dealer for their purpose, we work with the requested broker- dealer and perform due diligence on the transactions executed. In client directed brokerage accounts the client may pay higher brokerage commissions because we may not be able to aggregate orders to reduce transaction costs, or the client may receive less favorable pricing. Brokerage for Client Referrals Schwartz & Co. does not select or recommend clients to other broker-dealers to receive referrals. Research and Other Soft Dollar Benefits Schwartz & Co. does not participate in the practice of obtaining brokerage and research services through client commissions, called “Soft Dollar Arrangements.” We follow good faith practices and charge commissions based solely on the costs and circumstances surrounding the effected trades. All direct brokerage and research costs of the company are paid by the broker-dealer. Our firm will periodically attend a product provider educational conference or event, (which includes hospitality), or receive sponsorship for a marketing event. This can cause a conflict in the capacity to influence advice to our clients due to incentives. To mitigate this possibility, our firm keeps these activities to a minimum and requires all events and sponsorships to be approved and monitored by principals of the firm. ADV Part 2A Firm Brochure 15 March 15, 2026  ITEM 13: REVIEW OF ACCOUNTS Our firm reviews client accounts on a regular basis. Client account reviews can be on a monthly, quarterly, semi- annual, or annual basis as determined to be most appropriate to the client’s situation. Reviews of accounts are conducted by one of the five principals, with an annual review performed by the compliance department. Principal level reviews concentrate on determining if the investment adviser representative has applied, accurately, the correct analytics and strategies to the account to come up with the best investment recommendation for that particular client. Compliance reviews focus on verifying that all investment adviser representatives are following regulation as required by the industry and company policy. Occasionally a triggering factor will prompt a review. This includes customer requests, impromptu meetings, customer complaints, unusual client situations, or when a principal deems it necessary. Clients receive a written report pertaining to their individual investment portfolio from the Adviser. These reports list all assets of the client, their current values, comparable asset values and any current recommendations. The reports are received by clients on the review cycle determined most appropriate for their situation. These reports are discussed with the client either in person or by telephone. The purpose of the report is to ensure the client understands the position of their accounts, the strategies employed, the transactions executed and to see the investment performance of the plan. It also allows us to maintain communication with our clients and provides a platform for clients to ask questions and fully understand what is happening with their funds. Clients also receive a brokerage statement, listing assets with their current values, held in custody by RBC Capital Markets, LLC or other individual investment companies. We strongly encourage clients to carefully review and compare all statements that they receive regarding their accounts. ITEM 14: CLIENT REFERRALS AND OTHER COMPENSATION We pay referral fees to independent solicitors for the referral of their clients to our Firm in accordance with Rule 206 (4)-3 under the Advisers Act (“Rule 206 (4)-3”). Such referral fee represents a share of our investment advisory fee charged to referred clients. This arrangement will not result in higher costs to you, the referred client. In this regard, we maintain Solicitors Agreements in compliance with Rule 206 (4)-3 and applicable state and federal laws. Applicable clients referred by solicitors with which we have Solicitor Agreements will be given written disclosure describing the terms and fee arrangements between our Firm and Solicitor(s). The solicitor is not authorized to, and has agreed not to, provide clients any investment advice on behalf of Schwartz & Co. ITEM 15: CUSTODY Schwartz & Co. does not have physical custody of client funds or securities. These funds are held by qualified custodians. Clients will receive account statements from our correspondent, RBC Capital Markets, LLC or directly from the investment companies at least quarterly, or monthly if there is activity on the account. We strongly encourage clients to carefully review and compare all statements that they receive. Exceptions to the above include four private placement investments. As such we follow the provisions of the custody rule and have the financial statements audited by a PCAOB registered auditor. Unaudited financial statements are provided to the fund’s investors on a quarterly basis with the audited statements sent out annually. ITEM 16: INVESTMENT DISCRETION Schwartz & Co. currently accepts discretionary authority to manage securities accounts on behalf of clients. The number of discretionary accounts our firm holds is minimal and is only put in place upon request from the client. ADV Part 2A Firm Brochure 16 March 15, 2026  If a client wishes to give us discretionary authority on their account, we require that such authority be established in writing through the advisory agreement and a signed document granting discretionary power to the Adviser. Clients can place limitations on this discretion, and it must be done so in writing or included with the agreement. Limitations customarily requested are monetary limits per trade, discretion on certain investments in the portfolio, or limits on the actions an investment adviser representative can perform. Should the client wish to modify or remove discretionary authority the agreement may be updated at any time. Although we may have discretionary authority on an account, our office procedures require personnel to contact the client prior to the execution of any trade(s). ITEM 17: VOTING CLIENT SECURITIES Our Firm does not vote proxies on behalf of clients. Proxies should be received by clients directly from the qualified custodians who hold the related security. Should the Firm choose to exercise voting authority in the future, policies and procedures with respect to Rule 206(4)-6 under the Advisers Act will be implemented. Clients can contact the Firm should any questions arise relating to the proxies. ITEM 18: FINANCIAL INFORMATION The balance sheet of Schwartz & Co. has been prepared in accordance with the Generally Accepted Accounting Principles and audited by a PCAOB registered auditor on an annual basis. Our financial statements are prepared on the calendar year ending 12/31. A copy of the audited balance sheet is available upon written or verbal request. A copy of the balance sheet is not required with this filing as our Firm does not solicit prepaid fees. As of this filing there are no financial conditions that exist that are reasonably likely to impair the Adviser’s ability to meet contractual obligations to clients. The Firm has not been the subject of a bankruptcy petition at any time in the past 10 years. ADV Part 2A Firm Brochure 17 March 15, 2026