Summary

• For Q1 2026, the total return on the Ave Maria Growth Fund was -3.03%, compared to -4.33% for the S&P 500® Index and 0.67% for the S&P 500® Equal Weight Index.
• In the first quarter, top contributors to return included Tower Semiconductor Ltd., Silicon Motion Technology Corporation, Entegris, Inc., APi Group Corporation and Texas Instruments, Inc.
• Top detractors from return included HEICO Corporation, Accenture PLC, Roper Technologies, Inc., S&P Global, Inc. and Mastercard, Inc.

For the three months ended March 31, 2026, the total return on the Ave Maria Growth Fund (AVEGX) was -3.03%, compared to -4.33% for the S&P 500® Index and 0.67% for the S&P 500® Equal Weight Index. The returns for the